Evening Star Newspaper, April 26, 1932, Page 14

- ~ “A—14 ¥¥¥ FINANCIAL. LOCAL EXCHANGE ting on daylight saving time.| ~Prev.1992 _ Stockand Bales— Net. | —Prev.193a~ Stockand Bales— Mew | ~Prev.1933+ Is UPENED EAR'_IER T Ay Sne Re persiitg e daylgks o High. Low. Dividend Rate. _Add 00. High. Low. Close. Chge. | High. Low. Dividend Rate. Add 00.High. Low. Close. Chue. | High. Low. High. Low. Dividend Rate. Add 00. High. Low. Close. Chge | 25 10 Great Northern pf(1) 1% 11% 116 + %) a1 30 TideWatOllpt(B).. -1 33 32 82 i1 3 1 Abitlbl Pwr & Paper. Xy 134 7% Great North Ore(2).. 12 Ta T 2% Timken-Detroit Axle 1 3 +% ; 9% 47 Abitibl Pwr & Pa pf. 4% 4% — 1! 6% 3% Great Western Sug.. 43 45 4 13% Timken Roller B(2).. +1 5% 2% Adams Bxphess, 3 3 80 63% Great Wn Sug pt(7). 6315 6315 6315 ~1% 2i4 Transamerica Corp. % 2" Tri-Contl Corp. . Summer Schedule Put Into| sow oiis Adems Miie e 21% — %| 1% % Grigsby Grunow, bod 42 Tri-Contl Corp pf(6): 13 10% Addressograph (1) 11 8 4% Gulf States Stee f - 20/ Hed Broduots (] 914 Wesson O1&Sn (1) — i 16'%5 6% Affiliated prod 1.60. . 25 Hacken Wat pf A 1% Effect REta" sales 62); 36% Air Reduction(t4%). 27 1 1 Hahn Dept Stores. . .. Ulen & Co. a 50 47 Wesson O&Sn pf(4) = . Und-Ell-Fisher (2). 50 West PaRlpf (1)... 2 1 Alrway Elec Appl. .. 6 Hall(WF)Ptg(a30c). Report Made. 16% 10% Alaska Juneau (50¢) 62 Hershey Choc (8)... Un Carb & Carb (1). 98 Waest Pa Pwr pf (1) 3% 1 Alleghany Corp..... 2 Houdalille Hershey. . Un Oil of Calif(1.40). 2 Western Dairy (B).« - 8‘;:‘- SE‘ fill}fgdccph“ 5‘20":-;) 1 45'% Househd Fin pf 4 Union Pacific (10) 25% Western Unfon (§) .e V. e 4 559 ed Chemical (6). 1215 Houston Ofl. Unit Alreraft, 9% Westing'se Atr B(1)« BY EDWARD C. STONE. 13% 715 Allis-Chalmers(50c) 25 Houston Ofl ¥ Unit Alrcraft pf 19% Westinghouse (13 e ‘The Washington Stock Exchange went [ 1 12 Amerada Corp (2). 4% Hudson Motor Car. . Unit Biscuit (2) Unit Carbon. h 44 Am Agri Chem(DeD). 1 2 Hupp Motors. ...... O (e Ru e eHAMle oy, T 32 Am Bank Note pf (3) o | e Unit Cigar Store - s X Unit Corp (40c). opened the daily trading session at 8 Am Br Shoe (1.60). . 10:15 o'clock instead of 11:15 o'clock, 41% Am Can Co (15) ey b Unit Fruit (3). . Unit Gas&Im(1.20). following the iead of the New York 4 Am Car & Foundry.. 1 _o% . 1E I atenth Stock Exchange, which adopted daylight A syt 2 Inspiration Copper. A 2% Wrisley (Wm) (6. saving time yesterday. 251, Am Chicle (13). 5% Interboro Rap Tran U'S Leather (A)s o 5. D% Xellow Truck....... Trading was light and confified al-| 6 4" Am Colortype.. . 6% (nt Bus Machine(ns) US Pipe & Fdry (2) i+ K ;’—i\"w_ . 65 Am Comel Alcohol. ., 7 = U S Realty & Imp... 2 Zonite Prod Corp (1) Fost mhally %o b,ondlsl'l Th,'r DD;";:" 2% Am European Secur. e U S Rubber... 4 it transaction was a smal ransfer of '0- a2 In arves! X . U S Smtg & Ref (1). 24 Am & Forgn Pwr.... tomac Electric Power 51 per cent pre-| 33 7 Am&Forgn Pw(8)pf. i i e S U S Smtg&Ref pf 3% ‘ S U S Steel (2).. ferred stock at 102. Two $1,000 sales in 8 Am&Forgn Pw(T)pf. s Int Mate ; 4 Am & For Pwr 2d pf. 3% Inf Niokel of Can, US Steel pt (1) Wiskinglon Railwey A Fiectris 4 wase 361 Am Home Prod 4.20.. T ENecav). United Stores (A) Univ Leaf Tob (3) b Payable in stock. ble in cash or stock. fPlus 8% in stock. n Plus 27 JPlus $1 in special preferred ed, b made at 80! then recorded, both made at 80's. 29 T ATH TEOCE) vsosene 5 : ' Int Paper & P . Unlv Pic 1st pf (8) r— D . stock. K Plus 3% in m Paid last Year—no regular rate. Washington Gas Light fl;gsr‘rxcs A, fig- 50 Am Tcepf (6) 1,000 sale at 99%;. . Int Paper & Pwr pf.. 3 ured in a § o 45 Am International 4 I{:[ R:‘I:Q:f('ev:An‘\‘ ot Util Pwr & Lt (A)... T PINs 8% in stock. "p Houe 2%4% in stock. The exchange bulletin board contains . an announcement of the recent de 4 12, :: ffififi,’:fi:'ér'm s Int Shoe (3).. ration by the American Fire Insuran B0 A Lowonoy as 40 IntSilver pf (4) Co. of an exira dividend of 3 per cent, i e 4% Int Tele & Telog payable May 1 to stock of record Aprii| 1f Fer et 2% Interatate Dopt ot 26. This local stock is listed cn the “61 Am Pwra& Lt (8 3% Intertype Corp. .. exchange and is now quoted ex dividend. AT . b 101 Tsland Cr'k Conl (3), During the session _one of the ex- g e A 5 : 25 Jewel Tea (1472) - lflmi‘l!*‘lm‘;‘m‘a’f’ig?’dr;‘;m‘gd°§°lg e 4% Am Radiator (40¢).. 10% Johns-Manv*1l C e ocal stoc ues 4 2 York broker and had been called upon Al 905 KC P&L I8t pE B (6). 100 to pay the New York State stamp tax vt 2 9% 5% Kayrer (1) & Co.. on it The matter mvolved several 2 1" Kelly-Spring Tire highly technical points of more than 5t Kelvinator Corp usual interest. ;"a ,léflnnfcol; ;‘)npr:) % Kresge (SS) ( D. C. Sales Top Other Cities. e A Washington made the best record in 18% 11% Kroger Grocery (1), retail sales in March of any of the 56% 5% Lambert Co (8). ... leading cities in the fifth Federal Re- 63 A Pobacdoi(ts 46% 34 Lehman Corp (2.40). serve district, according to the monthly 6615 Am Tobacco B (16 Libbey Owens Glass., detailed sales analysis made public this | (5 6™ 47 Tobaceo pf ¢ Lizg & Myers B (15) noon by the Federal Reserve Bank of 1815 Am Water Wks (3).. Lima Locomotive. ... Richmond _Sales were off only 144 per 18 Am Wat Wkscfs(3). Loew's Inc (+4)... .. cent in this city, while Richmond Ze- 274 Am Woolen vte new Loew's Inc pf (6% ) ported a drop of 149 per cent, Baltl- 15'3 Am Woolen Co pf Loft Ine. & more was down 19 per cent. the average 4'5 Anaconda Coppe Lorillard 0) Jor the whole district was off 17 per tdenzla 11% Anchor Cap (2.4 Lorillard (P) pf (1) and a group of smaller cities lacke T4 Archer-Dantels (1) . La Oll pf (6%)... = of doing as much business &s 32 Armour of Del pf(T). 12 Lou GastEI & ) year. i 1 Armour of Ill (A)... ' Loulsv! sh(4) For tiie first auerter Tetell spics, [ 1% Arnold Constable. T the Capital also stood up DBeter tios 39% Atchison (4)... 15 MoCall Corp (2% they did in other fifth district . 14 Atl Coast Line (4) 2 14% MeTntyre Pore M (1) The shump was 13 per cent, Today 8% Atlantic Refining (1) 2% 371% McKesaport TP (1) Bank of Richmond report adds: i : i SOKBT4 MeEewrpmtmE (1), “Department, store sales the, £0 AnbumAsto (£6) . ; 124 Mack Trucks (1) Teserve dif;'ichmmi‘“fi;‘;e‘;;fng“ e 215 Aviation Corp (Del). ‘ 30" Macy (RH) (n3),.. pointing, the W % v omotive R Magma Copper(50¢) . r, partly on account of unusually 3% Baldwin Loc: Manhat Elev mod gtd SHONEAN OR LT DENAD — 11% Waldorf Sys (1%%) 1% Warn Bros Plc(‘:r-.: % Warner Quinlan. ... FFEE Sxe % White Sewing Mach.. % Willys-Overland..... 18 Wilson & Co pt. 35% Woolworth (2.40). . 7% Worthington Pump e 18% Worth Pump (A). . Bpecial Dispatch to The Stan, NEW YORK, April 26—On the eve of the quarterly meeting of the United States Steel directors for dividend ac. and the giving out of the three. 4kt 1 ++10 4ttt FFERS 10:30 AM. X 1:30 P.M. . 600,000 2:10 P.M. « 600,000 Dividend rates as given in the above table are the annual cash payments based on the latest quarterly or half-yearly declarations. fPartly extra. iPlus 4% in stock. aPaid this year—no reguiar pport ders, but of which emflxmxtlu; ':?y ot}allublg i o Alost direct ter t) orders had bee: T STRONGER BUSINESS STUCTURE PREVAILS Weak Firms Were Weeded Out During Lull of Last Few Years. CORPORATION REPORTS TRENDS AND PROSPECTS OF 10. LEADING ORG. Washington Produce Butter—One-pound prints, 23; tub, 22. Eggs—Hennery, 11; current receipts, Poultry, alive—Old toms, 12; young toms 15; hens, 20, crooked breasts, 12; Spring broilers, 1'; to 3! unds NEW YORK, April 26.—The follow- | 23a25; Leghorn broilers, Mnfil?owm ing is & summary of important corpora- | ter chickens, 18a20; stags, 12: hens, = d | 1arge, 14a16; medium, 14a16; Leghorn Hon nsw icparad by the S'l'“"l‘; hens, 13 capons, large, 30a32; small, | B the Associated Press. Statistics Co., Inc., New York, for the | 50423; slips, 18: roosters, 10; keats, NEW YORK, April 26—It's sn Il Assoclated Press young, 45a50’ old, 25a30, h ‘ s Poitry, dressed—Turkeys, old toms, | 1w (st blows 1o one good, and the Ne rend. 15; young toms. 18; hens, 26229 crooked t of commercial failures that has Automobile production showed an in- | breasts, 20 Spring broflers, 1% to | taken the lives of about 65,000 firms |Moderate amount of buying to advany, crease in the weck ended April 23. Ac- | 3': pounds. 26a28: Leghorn broilers, | since the first of 1930 has perhaps| TePrich, . cording to Cram's Automotive Reports | 23a24; Winter chickens, 12::‘2} 1588 | slightly smoothed the way for the re-|of American Telephann: oy output totaled 37.273 cars and trucks, | pens. mediim, 17a19. Leghorn hens, | MAININg 2,000,000 business enterprises, | vorite targets for 3 which compares with 35,778 units in the | 16; capons, large, 33a35; small, 23a26; | Economists mostly agree that what- previous week and 78,498 units in the | $lips, 21 roosters, 13; keats, young, | ever should be done to prevent further corresponding week of last year. The |SQ8i0 0140040, © g, | failures, or whatever will be the results gain over the preceding week Was|veal top, 13; good, 12; lamb, top, 17: | °f the Reconstruction Pinance Corpo- caused by increased output of the Ply- | good, 16; pork lvins, 16; fresh hams, |ration's activities, generally speaking mouth, De Soto and Chrysler divisions ;:;dsrl.l;)'k-edcor;:o,in:; 7slrip bacon, 16; | the bank and business which fails is of Chrysler and a slight step-up in | “Live stock—Hogs, lights and mediums, | ECDCTally the least eficlent, and that Chevrolet. production. 380410 heavies. 325375 pigs, 3508 | corqinany sk Of Ghe meflctent s ac- The Companies. 4.00: roughs, 2.00a2.75; calves, 3.00a g e American Radio & Standard Sani- | .0048.00. 41+ - s o T ) . T e =5 remaining institutions. There is a secondary implication from VL4401 +4 6.00; lambs, 4.0027.50; Spring lambs, er during most of the month. e qulh’.’fl Slflrt‘g averaged 17.3 per sales in March, 1951‘ combined sales in the first quarter :?d'.hls year fell 16.2 per cent behind sales in the same stores in the first f 1931. qu‘.‘g{:ckus on the shelves of the re- porting department stores Trose an average of 5.1 per cent during March, a seasonal increase, but on March 381 average stocks at retail prices were 11.7 per cent below stocks on hand on March 31, 1931. Stocks were turned .319 times in'March this year, and during the first quarter of 1932 stocks were turned 827 times, a lower figure than .872 times stocks were turned in the first quarter of 1931, “Collections in March, 1932, in 31 of the 33 stores averaged 26.1 per cent of receivables outstanding on March 1. a poorer record than that of March, 1931, ‘When 28.9 per cent of outstanding re- ceivables as of March 1 were collected during the month.” C. & P. Votes $67,865 Outlay. Expenditures necessary for _the pm;ep: maintenance of the telephone system in the District of Columbia and for replacements amounting to $67,865 have just been authorized by the board of directors of the Chesapeake & Poto- mae Telephone Co. at its regular ‘monthly meeting held here today. This appropriation brings the total amount anthorized to date for expenditures this year to $3,362.198. 3 Included in these projects are the ex- tension of underground conduit along Benning road from Seventeenth street to Kingman Lake northeast in the Lin- coln-Atlantic central office area, and the installation of additional central of- Sice equipment in various local offices. Expenditures necessary for the propét maintenance of the telephone system throughout Maryland and for replace- ments amounting to $47.140 have just been authorized by the board of direc- tors of the Chesapeake & Potomac “Pelephone Co. of Baltimore City. Meeker Defends Short Selling. J. Edward Meeker, economist of the New York Stock Exchange, is the au- thor of a book recently brought out by Harper & Bros. entitied “Short Sell- 21% 415 84 Baltimore & Ohlo. 5 Balto & Ohlo pf...... Bang & Aroos pf (7) Barker Bros. Barnsdall Corp. Beutrice Cream ( Belding-Hemingway . Bendix Ava (60¢). ... Best & Co (2). . Bethlehem Steel..... Bethlehem St pf (7) Blaw Knox (50¢).... Bloomingdale pf (7). Borden Co (3).. . 4 Borg Warner (1).... 3% 6% 813 28 6313 % T 5% 2 10 2% 40 6 Botany Con Min (A) Briggs MIg (1)..... Brockway Mot Tr pf. Bklyn-Man Tran (4). Bklyn Union Gas(5). Budd Whee! Bullard Co. Burroughs Add(30e). Bush Terminal(2%). Bush Term deb (7). . Bush Terminal pf(7) Butte & Superior.... Byers (AM).. California Packing.. Calumet & Hecla. ... Canadian Pacific 1%. Capital Admin (A) Case (JI) pf (T)..... Caterplllar Trac (1). 21; Celanese Corp 9% 54 12% 6% 5 1% 1% 4 4% 9% 9 2% 84 15 56% 93% 224 4% 9 a 6% 45 221 15% Cent Aguirre (1%).. Cerro de Pasco Cop.. Ches & Ohio (2%)... Chesapeake Corp(3). Chi Great West pf... Chi M1l StP & Pac. Chi Mil StP & Pac Chi & Northwestern. Chi Rock I & Pacific. Chi R1& Pac 7% pf. Chi Yellow Cab (2).. Childs Company Chrysler Corp (1)... City Ice&Fuel (3.60). Clev CC&StL pf (5). Coca Cola (18) . Colgate-Pal-P Collins & Alkman. Colonial Beacon. Colo Fuel & Iron Columbia Gas (b1).. Columbia Pic ctfs. .. Columbian Carb (3).. Comel Cred pf (1%). LI ++1 140+ FEFEREEFIEL Manhat Shirt (60¢) .. Marine Midld (80c). . Market St Ry pr pf.. Marshall Field & Co. athieson Alkili (2) May Dept Stores 1.89 Maytag pf ww Miami Copper . Mid Continent Petm.. Midland Steel Prod. . Mo Kan & Texas Missouri Pacific Missouri Pacific pf. ., Montgomery Ward. . Motor Wheel 41 Mullins Mfg 41s Murray Corp... 10% Nash Motors (2 10 Nash Chat & St L., 29% Nat Biscuit (2.80) 7% Nat Cash Reg (A) Nat Dairy (2.60). Nat Dist Prod (2) Nat Lead (5).. Nat Lead pf A (7) Nat Lead pf B (6) Nat Pwr & Lt (1). Natl Steel (1). Natl Surety. Neisner Broth Nevada Con Coppe N Y Central. ... N Y Chicago & St L. N Y & Harlem pf(5 N Y Investors. N Y N H & Hartfor N Y Shipbuflding. N Y Steam pf (6). N Y Steam 1st pf(7). Noranda M(m50c). .. Norf & Westn (112). North Am Aviation. . Nor Amer (b10 % stk) North Amer pf (3).. North Am Ed pf (6). Northern Pacific 5 Ohio Ol 3 3 Oliv Farm Eq prpf.. 114 Omnibus Corp...... 11 Otis Elevator (3 2 Otis Steel 31 Otls Steel 7 19% Owens Ili Glass % Pacific Gas & Bl (2). 28% Pacific Lighting (3). 6 Pacific Mills...\.... 4 Pacific Tel&Teleg(7) Pacific T & T pf (6).. Packard Motor Car. . 4 1+ + & + B +1 rEE FF 7 tery Corporation subsidiary, Standard Sanitary Manufacturing Co. steps up output 20 per cent at pottery plants. Borg-Warner Corporation common share earnings, quarter ended March 31, 1932, 9 cents, vs. 21 cents. Dominguez Oil Fields Co. 1931 com- mon share earnings 47 cents, vs. $2.16. Fuller (George A.) Co. net income, before guaranteed subsidiaries’ divi- dends, quarter ended March 31, 1932, $54,817, vs. $164,706. Link Belt Co.—Sizable improvement indicated for June quarter. Thompson Products, Inc., $7 preferred share earnings, quarter ended March 31, 1932, $1.38, vs. $9.08. Illinois Central R. R. March net operating income $1,470,713, vs. $583 510; three months, $3,309,570, vs. §1,- 096,853. Reading Co. March net operating in- come up 53 per cent; three months up 15.2 per cent. Standard Oil Co. (Indiana)—Cash distribution among shareholders may result from sale of pan-American for- eign properties, Canadian Car & Foundry Co. Ltd., declares 15 cents common dividend; paid 25 cents previously. United Public Service Co. receivers seek to have three subsidiaries declared insolvent. Anchor Cap common share earnings quarter ended March 31, 1932, 16 cents, vs. 62 cents. Corno Mills common share earnings quarter ended March 31, 1932, 42 cents, vs. $1.23. Erie R. R. March net operating in- come off 30.3 per cent; three months off 38.9 per cent. Great Northern Ry. March net oper- ating deficit $48,974, vs. operating in- come $574,261; three months, operating deficit $1,324,932, vs. operdting income $836,736. Lily Tulip Cup common share earn- i‘l;gssa 12 months ended March 31, 1932, Chain Belt Co. declares 20 cents com- mon quarterly dividend; paid 25 cents previously. Hancock Oil Co. of California com- mon share earnings nine months ended March 31, 1932, 63 cents. e Motor Products Corporation _deficit Fruits—Strawberries, North Carolina, quarts, 35; apples, bushel baskets, 1.00a1.40; fancy box stock, 1.50a2.50; |oranges, 3.50a4.50. lemons, 4.00a4.50; | grapefruit, 2.25a3.00; honeydews, Chile, 250; pears, 3.50a4.50; alligator pear: pineapples, 4.25; ba- nanas, 1.00a2.00; limes. per 100, 2.00; rhubarb, hothouse, 75a85; plums, 1.50a 2.00; nectarines, 2.50; cranberries, 4.50. Vegetables—Potatoes, Maine, 100~ pound sacks, 1.25a1.40; New York, 1.15; Idaho bakers, 2.25a2.50; new, bushel, 2.75a3.00; seed. 150-pound sacks, 1.75a 2.25; sweets, 75a1.00; string beans. 5.00 a5.50; limas, 6.00; spinach, home grown, 50a75; Norfolk, 85; kale, 40a60; | cabbage, 2.00a2.10; celery, 2.50a3.50; | eggplant, 3.00a3.50; peppers, 3.50a4.00; | cucumbers, Florida, baskets, 4.00a5.00; turnips, crates, 3.00a3.50; beets, 2.75a 3.00; carrots, 3.5024.00; home-grown, bushel, 2.00; tomatoes, 6 pans, originals, 2.50a3.00; repacks, 3 pans, 2.25a2.50; mushrooms, 85a1.00; peas, California, crates, 5.00a5.50; Florida, baskets, 3.00 83.50: squash, 3.50; lettuce, Iceberg, bunches, 3.50a5.00. 0il Stock Reported Pegged. | NEW YORK, April 26 (#).—Wall | Street heard today that buying orders }(nr an unlimited amount of Standard Oil of New Jersey stock at $21 a share ;hld been placed with brokers who act for large Standard Ol interests, | Beports that the Rockefellers them- selves were participating in the trans- | action lacked confirmation, but the gos- |sip recalled the order for 1,000,000 | shares of the stock at $50, which they were popularly supposed to have given 1929. Standard Oil of New Jersey was quoted just above $21 on the New York Stock Exchange today. CHICAGO LIVE STOCK MARKET | CHICAGO, April 26 () (United States Department of Agriculture). — | #lcgs—Receipts, 23,000 head, including 2.25a2.50; asparagus, California, dozen soon after the first market crash in" failures in that the power of the big Sticemn u;;orezi:iauy increases in a de- ion. Most of the large c tions g.ve been, in a sense, mep-fln(m!:' bad business for a long time. They have built up huge reserves which now are helping them through difficulties. When business revival does come they will be mfi;fl whsr? edur:nd with only moder- iminf Ten, ch"l,lpefltéo‘:, gth and with less ery firms seldom they not only retain thdrlmmfi : bad times, but the losses of others ac- crue as benefits to them, to some ex- tent at least. Gardiner S. Means of Columbia University has estimated that the 200 largest corporations in the United States controlled about 45 per cent of the assets of all non-financial corporations, received over 40 per cent of all corporate income, controlled over 35 per cent of all business wealth and between 15 and 25 per cent of national ::;l':h u{: u':‘;l.t These corporations had of about $67, oo, . $67,000,000,000 at the | . Almost every industry in the Na is capable of overproducing at mumuoz overproducing in the sense that it can produce more goods than it can sell for a profit. Many economists agree there | will be little change in the productive | capacity of industry for some years, that it is, in fact, likely to decline. So {,g: l‘?:es g; sx;sno.r“ m;mtgeumrs will enable | e of “{’:‘?W- e present surplus s said that small firms off along better during a di resuo;erlthfi big ones, since they are able to fill small orders more efficiently than large con- 32‘3?';:.5'}‘1 mlv.he sum total of business lant corporation tains the bulk of business. * Y T | MONEY MARKET. NEW YORK, April 26 (#).—Call money. steady: 2': per cent all day; Ume loans, easy: 60-90 days, 2; 4-6 mercial paper, 31,-31%; bankers' ac- ceptances uncmmfed 2 o Tin Plate Mills Active. NEW YORK. April 26 (#).—It is| ha¢ operating income of against $583,510 in March, n’:li?m"l"’g other active asues fess SILVER PARLEY PLANS FAIL TO GAIN SUPPOR1 By the Associated Press. Det over the last wee have not been fa - vorable to silver. ing a conference at this time. Silas H. Strawn, president of th Chamber of Commerce of the Uniter States, said President Hoover and th international chamber had endeavoret Appliances Sales Increase. NEW YORK, April 26 (#).—Manu facturers and dealers report a consider. ably larger demand for smali electriea household appliances. They look ft volume this month 10 to 15 per ahead of March and equaling the ing in February. Summer Merchandise Orders. NEW YORK, April 26 (#).—The cur rent week started off in a fairly en- couraging way as regards orders fo Summer merchandise placed in thi Thopehs, 2 per cent offered; prime com- | market, An increase in the mall volum was taken to reflect the better move ment of retail stocks last week becausr of mild weather. ing.” On account of his connection 25% Should be Investes | in BONDS Every organized investment program should be founded on good bonds. They provide a regular income in & time when dividends and other earn- ings have been curtailed. 8% Eight Year Gold Bonds These bonds of the Associated Gas and Electric Corporation are avail- able in denominations ranging from $10 to $1,000. Initial interest 8% %, participating conditionally to 10%. 444110 TS +4 4+ GEE p quarter ended March 31, 1932, $179,526, 5 Teported In steel trade circles that tin | With the exchange the writer has an| 27 15% Comel Inv Trust (2). Pan-Amer Pet (1.60) 5. . Income $92,687, equal (o 47 cents | {5 higner; 140-510 poands, 3808400; | BA*ic, ML are operating at 50 per cent unusual amount of information to pre- 5% Comm Soly (60c).... 2 2 Pan-Am Pet B(1.60). a common share, top. 4.00; 220-250 pounds' 3.6523.90° capacity, the highest rate of any | sent from data on file, he has written 214 Comwith & Sou(30c). Paramount Publix. .., Colorado Fuel & Iron Co. deficit.| 960 309 pounds, 3.40a3.70; pigs, 3.25a department of the steel industry. ! one of the most exhaustive books on 46 Comwlth&Sou pf (§) Pathe Exchange (A quarter ended March 31, 1932, $399,278 |5 g0 > -fi;‘: e évén:poo-' u'“h: seco e R Sl fhe subject yet published. He is nat-| €8s 483 ConsolGasN Y (4).. Patino Mines. ... - vs. deficit $247,214. [iigns, ood et oholce; T46-160 poutcts SILVER QUOTATT! urally sirongly in favor of short selling,| 95 811 Consol Gas NY pf(5) Penney (J C) (2.40). Kreuger & Toll Co—Further exten-| g%2h &00d and choce, oo 00 POUDCS. ONS. but at the same time presents the argu- s 6 Consol Laundries(1) Penney (JC) pf A (6) sion of moratorium reported likely; |5 ;;n 4.00. ig] e‘;" 8! e SiRe ggo 250 | . NEW YORK, April 26 (#)—Bar sil- ments against it. 4% Consol Oil Corp. ... 2 Penna Railroad (2). 3 3 France reported considering modifica- | > ’d‘;) 3 Logrbare “‘8‘ ht, 250.350 | V°F Steady and unchanged at 28 Mr. Meeker has already written sEcv- % Comlal';lell;‘CDrpB'B). % Peoples Gas, Chi (3). 6 717 ;}Im: ,?f match contract with SW“‘S*‘;EZK?,& 3635;;3 0 ;::{;v;‘g it 2t .m:o S mnchindnd st 36 eral books on the work of the Stock Ex- 13 Contl Baking (B). Petrol Corp of Am... E P 2 atch. ), 3 15;, P , = change and is always clear and inform- 283 Gondl Baking pt (8) Phelps Dodge Co. . ; Philacelphia Dairy Products Co. 1931 |4ium and good, 275-500 pounds, 265a | U. 8. TREASURY BALANCE. | ative,. Whether one views short selling 24% Contl Can (23%). Phila Co 6% pf (3). $6.50 prior preferred share earnings Sy Pigs, g0od and choice, 100-130| m. yniteq states Treasury balance | as useful or destructive, the author 11 Cont Insur (2.40). Phila & Read C & I $48.67 vs. $50.64. pounds, 3.2583.75. 1 announced todhy as of cloce of bustheey makes the timely subject most inter- 1 Contl Motors Phillips-Jones pt ... Pioneer Gold Mines of British Co- |, Cattle—Receipts, 7.000 head; calves, | ;) 53" oo ehg1 1 s esting. 7" 4% Contl Oil (De Phillips Petroleum. . lumbia, Ltd., produced $93,000 bullion | 4300 head; fed steers and YeArlings | roeoinis” for the. mosit i g tomS ) i . s Contl Shares Plerce Arrow pf from 3,387 tons of ore treated in March, |$10%. but liliing quality - considered. | 1624771414, Total ordinary. cxpaci: Seek Changes in Glass Bill. 2% Corn Products (3) pirelli (A) (a2.58) new monthly record. . '|fully steady; strictly good and choice | it ves “vere $14385 10500 PR The elimination of the interstate fea- 2" Coty Inc. ... Pitts United pt... ... Scoft, Paper Co. common share earn- | Kinds scarce, bulk comprising common ,389,102.72, ture of the branch banking provisions 1 Curtiss Wright. Postal Tel&Cable pt. ings, quarter ended March 31, $1.32 vs, | 20d medium grades; early top around * o of the Glass banking bill is being 1% Curtis Wright (A).. Prairfe Pipe Line. ... $1.62 | 7.25, but several loads held around 8.00; NEW YORK BAN sought by New Jersey bankers through 6 Cutler Hammer. ..., Proct & Gamb (2.40) Seaboard Air Line Railway March Other classes steady; slaughter cattle K STOCKS their Senators. The bill as it now o A T Proc & Gamb pt (5). net operating income off 60.9 per cent; | Ad vealers, steers, good and choice. - stands permits banks 50 miles over other 1 Délhwire Lask & W 4 Public Sve NJ (3.40) 3 months off 72.8 per cent. |600-800 pounds, 6.7588.00: 900-1,000 | ey | Btate lines. Such a proposal would per- | 28% 11 Delaware Lack & ¥. Public Sve NJ pf (8). Ford Motor Co of Canads, Ltd.—Pre- | POunds. 6.75a8.00; 1,100-1,300 pounds, | ;.2 YORK, April 26 (#).—Over- mit New York banks to establish T% Do hiines (11.30), Pullman Corp (3). pared to start turning out new 8-cylin- | 6.188.00; 1.300-1,500 pounds, 6.75a8.00; | ‘e-counter market. branches in important centers in New 13 Dominion Storest13 PureOil.... der models; minimum output for May, | Common and medium, 600-1,300 pounds, BANKS, Bid. Asked Jersey 104 Dresser Mfg A (3%) Pure O1l pf () 5,000 cars and trucks; Canadian dealers (4798675 L L 331, have 2,000 advance orders for new cars. | ~Heifers good and choice, 550-850 EGTFSICHL (" g, Norfolk & Western Railway March | RoURds; 550a6.75; common and me- | Manhatian (2) New York bankers are expressing op- £z ggat procser s A ; 6% Purity Bal Pl 10/ the provis St Shees Ty Dupfn?lod: New (). 3 4% Radlo Corp. only three years in which to divorce 894 Dupont de N ot (8) 20 Radio Corp pf themselves of security affiliates. ey Durham Hoslery p 7% Radio Corp pf B. would have the provision extended to 2% Radio-Keith-Orpl five years. % b5 Faavusn Rotak (B} 2% Real Silk Hosfery. Bus Passenger Service Sold. gl i i 10 Real Silk Hoslery pf. | 61 Broadway Remington-Rand, ... o - . | “Tidewater Lines, Inc, has sold its bus 513 Elec Pwr& Lt (1)... 0od and choice, 4.5086.00; Continental *(1.20) pessenger service to the Peninsula 16% Blec Storage Bat (3) Republic Steel. ..., Marck 31, 1932, $360,949 vs. net income | & ; _medium, | Sonting: - . | £00a4.50; cull and common, 2 508400 | SR, Exchanse (4) | | Please send me Circular D-333 Transit Corporation and will devote all 251 Endicott.Johnson(3) ERuie Biatlute s 8219067, equal to ‘$1.18 & preferred | siocker and feeder cattle, steers, good | Gubrants 20y "1 vk ¢ PR : its energies d‘” increase its freight ‘busbl- 100%; Endicott-John pt (T) e s 5 i T o, ged anty (3 o B l ness, according to announcement by 3% Erfe R R A4 6.00; common and medium, 4.00a5.25. Maurice Otterback, vice president of | 7y 3 Eureka Vac (a2) 12% Royal Dutch of NY 85.25. {7 A J s . FOREIGN EXCHAN Sheep—Receipts, 12,000 head; mar- | Title Guaranty & Trust (4.80) the company and president of the Ana- 9% Exchange Buf (25¢). 39 Safeway Stores (5).. GE. ket very slow, steady to shade lower;| °‘Includes extra. costia Bank The company operates 72 Safeway Strs pf (6). (Quotations furnished by W. B. Hibbs & Co.) biddin g about 25 lower on between Washington and Southern ; 6% Safeway Strs pt (1) Nominai eéid seting ehecka | PITH0E or mostly 6008625, ctpen, Maryland points and also has a line Fi T&R 1% St L-San Francisco.. ;andon, pound 8665 5.00a5.75; best held considerably above from South ryland to Baltimore b s 2% St L-San Fran pf. 3 3 3 . 4 16000 6.00; fat ewes, 2.00a2.50; bs, 90 | over the Crain Highway. The line p""f(finfl’?n ‘(‘a“) ¥ 4 2% Savage Arm... 2 2 3 n, b 5 pounds, down, good and choice, 6.00a | which has acquired the passenger serv- by il ;“ 3 ‘ 10 Schulte Ret Stor p 7.00; medium, 5.25a6.00; 91-100 pounds, % has been in successful operation | Piak Bk ke ixt ot " 6% Seaboard O1l. ... medium to_choice, 5.0086.90; all weights, since 1919, | P! ', # ":," Uik 19% Sears Roebuc! common, 3.75a5.25; ewes, 90-150 pounds, ‘oundation Co o 215 Servel Inc...... medium to choice, 1.7523.25; all weights | ll;ourlh Nat Inv 110. 3 Sharon Steel Hoop. .. 4 o cull and common, 50a2.25; feeding reeport-Texas (3). 1814 Sharp & Do pt (333) . oty 119 ¢ lambs. 50-75 pounds, good and choice, | 16% Gen Am Tank Car(4) 8 Shell Trading & Tran Copenhagen, 0 " | 5.00a5.65. hengrpe g 214 Shell Union Oil. . ook o - Gen Baking f () 19 Shell Union Ofl pf... ] o 18% Gon Elas () 8 Socony-Vacuum (1). e 10% Gen Elec 8pes 4% Boty An nt ww(kie) SHORT-TERM SECURITIES. Ly Tt Rico Sug. 30% Gen Food Corp (3). . Fribsia kS AL (Reported by Chas. D. Barney & Co.) 114 Southern Paeific 4 | 5 Southern Railway... e 8 STEchN. 635 Southern Railway pf 8 n Tel Indus 1% Sparks-Withington. . T Tt g e Today is 1 Sasr &.C Erevious da. 45. 9 Spencer Kellog(§0c). AR 5 Splcer Mfg....... faan s 9% Stand Brands (1.20). 2 h ForeSous am i 14%s Stand Gas&E) (3%). 5| Cleve. Lor. i 90 o2 | | Hign 1033 oo 'as] 20 Stand Gas&El pf (4). 2 Fele) Cosa ds, St 138 | ] Lo 13 38 Stand Gas&El pf (6). . o W B 16% Stand Ofl Calif (2) 7 Stand Oil of Kansas 1 19% Stand Ol N J (12) Genefal Public Service 5% 4 Sterling Secur (A) Grand Trunk of Canads. g 1988 2% Stewart Warner. ... Eusm B2 s 15% , 7% Stone&Webster (50c) 13% 5% Studebaker Co(1.20) 13% 9% Telautograph ( 13% 10 TexasCo (1).... 26% 16 Tex Gul Sulphur (3). 2% 1% Tex Pacific Coal&Oil 6% 3% Tex Pacific Land Tr. 16%° 8% Thompson (J R) (1). 1% 1 Thompson Starrett.. 3% 2 Tide Water Asso Oil. 28% 20 Tide Water Aspf(s). Circular D-338 to which reference is hereby made, contains full details. *| General Utility Securities INCORPORATED l New York City | ium, 4.0085.50; cows, good and National s net operating income off 206 per cent: | S 071" corman ang et L | Fubie . (2 Sommon, share earnings. quarier ended | 375" low cutter and cutier, 1304215, TRUST COMPANIES. Texas & Pacific Rallway March | PUlls (vearlings excluded), good and |Bankers (3) deficit after charges $89,496 vs. net in- | ChOIce (Deel), 3.00a4.25; cutter to me- 55‘:’-‘353";11;‘"'.‘25\-‘;{ 1y come of $245,825; deficit, quarter ended dium, 2.50a3. vealers (milk fed),| Chemical (1.80) | 2 i £2 & BEE B X E R EEe * Fl4+ +0 1+ L i e e e e e e e e e e PROPERTY MANAGEMENT *E Athens, drachma. Madrid. peseta. Vierna, schilling Bug Br Apartment House MANAGEMENT Heard in Financial District. Wi C. Stettinius, who has just | been elected a vice president of the Baltimore Trust Co. is well known in Washington. He has been a director in the bank for several years, is & di- rector of the Worthington Pump & Ma-~ chinery Co. and formerly a general partner of W. W. Lanham & Co. The American Bankers' Association has assigned to George Washington University a loan scholarship for the year 1932-33. Joshua Evans, jr., presi- dent of the District National Bank, will serve with the faculty committee in awarding the scholarship, | It is announced that bids are to be opened May 10 for $1,000,000 enlarge- | ments to the Richmond Post Office. | Other construction is planned in the | Virginia capital, which is considered ly encouraging for this fifth re-| serve district city. COAL OUTPUT GAINS. B the Assoclated Press. jon of bituminous coal rose ing the week ended April 444+ ® FEey EEEEEL INSTEAD of hiving to worry yourself over the innumer- able details of apartment house management just give the prop- erty into our hands—to be looked after by our experienced Property Management Depart- ment. Market Averages. By the Assoc! 1%+ Gen G&E A (b6 % stk) . e 814 Gen Gas&E cv pf(6). 25% Gen Gas&El pf A(8), 19% Gen ltal Edis (2.06). 28% Gen Mills (3). . 10% Gen Motors (2). . 62% Gen Motors pf (5. .. Tia Gen Printing Ink(1). 1% Gen Public Service. . Gen Rwy Signal (3) n Realty & Util... % Gen Theater Equip. . 10% Gillette Stf Ras(1).. 50 = Gillette Saf R pf(5). 1% Gimbel Bros. .. ..... 38% Gitdden Co pr pf (1). 3% Gobel (Adolf)....... 11% Gold Dust (1.60) 86 Gold Dust pf (6).... 2% Goodrich (B F). ... 9% Goodyear Tire&Rub. 33 Goodyear 1st pf (1). T4 Gotham Silk Hosiery 1% Graham-Paige. ..., % Grand Silver Stores. o B 4645.000 tons 23% G BE (3. ©ees 6326000 tons 20% Grant (WT) (1).. e 1|4+‘|+‘ ssfs 2 s 8 wZnaTEen: o D200 @08 e 20 Sabbbbnmanseal ® 4 1 Mot. Accep. Corp. 6s ai Betroletin Corp, s 5L 200900 1 10 50 1t T 10 00 o Ot R e e with the advantages which will result. =8 g 13 & 28 o 339, it B. F. SAUL CO. 925 15th St. N.W. - Nat’l 2100 22883228338 it g zEsSanes MORTGAGE LOANS g § H 2 f H 4