Evening Star Newspaper, May 5, 1932, Page 14

5. FINANCIAL STOCKS IRREGULAR AFTER EARLY GAIN Selling Resumes but Volum¢ of Liquidation Is Small. D. C, THURSDAY, MAY 1932 TA—14 F¥¥ FINANCIAL TAR. WASHINGTON LANSTON EARNINGS TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE Sales— Add 00. High. Bl Y + 4 + 65 31 Net. ~—Prev Chee. | High S| 19% 167 2814 103 14 1% 104y 38% 309 21% " kY 5144 8 1932+ Stock and Sales— Low. Dividend Rate. Add 00. High. 12 Un Tank Car (1.40).. 1 12 9% Unit Aircraft. 16% Unit Biscuit (2). 90 Unit Biscuit pt (7) 714 Un't Carbon % Unit Cigar Store: 5 Unit Corp (40¢) 27 Unit Corp pf (3). 15% Unit Fruit (3)... Unit Gas&Im(1.20) Unit Gas&Im pf(5) U S & Forn Secur U S & Forn Sec pf. U S Freight. U S Gypsum (1.60) U S Indus Alcohol. U S Leather (A). U S Pipe & Fdry (2). U S Realty & Imp..., U S Rubber. ... U S Rubber 1st pt U S Smtg & Ref (1). ~Prev. 1932~ High Low. 65 3 15% 8 10 6 Stock ane Dividend Rate. Republic Steel. Republic Steel pf. Reynolds Met (1%). teynolds Spring evnolds Tob A ( evnoids Tob B (3 15 Richfield Oil. Rio Grande Ofl tossia Ins of Amer.. oyal Dutch of NY.. Sales— Net. Add 00 High. : 10% 9y Abitibi Pwr & Pa pt. a 44 % | BTK 62 ien Motors pf (5.2 % 68K -1y e 5% Adams E: . . 2% 2% Gen Outdgor \ T i st g Gen Outdoor Adz (A) 2 5 Gen Printing Ink(1). 208 Gen Public Service.. 10 Gen Refractories 4 Gen Theater Equip Gillette Stf Ras(1) Gillet af R pf(5). Giidden Co Gl'aden Co pr pf (1). Gobel (Adolf). . Gold Dust (1.60). Goodrich (B F). odrich (B F) p Goodyear Tire&Ru S + Gatham Silk Hosiery D) 3 k 3 . § Gotham S Hpf (T).. 308 [ - ‘ 46'% 5 + W 10% 4614 104 70 13 1614 621 Adams Exp pf Addressograph (1).. Affiliated prod 1.60.. % Afr Reduction(t4%) 3T Alrway Elec Appl. - 1 Alaska Juneau (50¢) 1% Alleghany Corp..... Alleg Cp pf $30 ww. Alleg Cp pf $30 xw. . Alliea Chemical ¢ Allied Chem pf (7). Allis-Chalmers(50e) Alpha Port Cemt (1) Amerada Corp (2) Am Bank Note. Am Pank Note pf (3 Am Br Shoe (1.60).. Am Brake Sh pf(7).. Am Can Co (15 Am Can Copf (1)... Am Car & Fdy pf (1) Am Chicle (3). Am Comel Aleohol. Am & Forgn Pwr. Am & For Pwr 24 nf, Am Hide & Leathe AmIce (2)..... Am International...: . R vin Am Locomotive..... 5 5 y el L Am Locomot pf(T)- . : " Hartman Corp (B). . Am Mch & Fdy 1.40. Hercules Pow pf (7). m Metar e Hershey Choe ( Am Nows (1) Hoe (R) & Co....... A Holland Furnace (1) Annual Report Shows the Company Has No Biils E 6% Outstanding. 1;;: ll;" 105 14 508 2 10s 11 13 Teway Stores (5).. eway Strs pf (7). Joseph Lead . St L-San Franc St L-San Fran pf.... Savage Arm. ...... ott Paper (£1.40) BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, May 5.—Net changes i L stock market were of little sig nificance, Prices were lower during th morning. came back partially in th afternoon and left off with small de ¢ from the preceding close. A more favorable view was taken o probable Washingto; developments and, in particular, the outlook for i sales tax. A substantial rally in th low-priced ilroad bonds contributeq to a better feeling in the share market The most disappointing feature of thi trading was the weakness in preferre issues. The market opened a shade higher | but almost immediately after the over | night orders had been executed the de. cline was resumed, irregularly dis ) tributed, but with many new loans Railway shares were the weakest group Since the Interstate Comme: Com BY EDWARD C. STONE. Net profits of the Lanston Monotype | Co. for the year ending February :9_; 1932, were reported at the annual meet- | lders today in Alex - 15% . 187 47 ham-Pa G 5 11y 197 52% 21 113 654 130 119% 3 i « Grand Unfon........ 6 i Grand Unfonpf (3).. 3 Grant (W T) (1). 19 Great Northernpfi2) 8 eat North Ore(2). 12 Great Western Sug. . Great Wn Sug pf(7). shv Grunow ckensack W (1 n Dept Stores pf. ears Roebuck ( ervel Inc Shattuck (F G) (1). hell Trading & Tran Shell Union Ol mmons Co. . Simms Petroleum. .. kelly Ofl...o.nnnne Socony-Vacuum 80c. South Port Rico Sug. outhn Cal E4 (2)... outhern Dairies(B) outhern Pacifl e Southern Railway... Spencer Kellog(60c). Spicer Mfg......... Stand Brands (1.20). Somaneem e P a 2 & per share on the outstanding _stock. Dividends paid dur- ing the to- talled $395, 2 Following the & nual steckholders meeting, the direc- tors declared the regular quarterly dividend of $1.50 per share, this rate having been in operation for some U S Tobacco pf (1) 1nited Stores (A). 20 16 Univ Leaf Tob (3)... 10% 2% Util Pwr & Lt (A)... 6% Vanadium Corp. . 75 Va Elec&Pw pf (6) 11' Vulcan Detinning Wabash R R. . Wabash RR (A). Walworth Co. Ward Baking ( Warn Bros Plctures. Warner Bros pf 3.85. 2 16 0 50s 508 215 + | 170s 20 Ha time. The disburse- ment is payab May 31, to share- holders of record May 21. J. Thilman Hendrick, chairman of | the board, presided at today's meeting | and President Harvey D. Bost pre- | sented his annual repc showed | the company to be in cial condition. The closed the fiscal year wit accounts payable and no liabilities other | than reserves for Federal taxes and the 3. Thilman Hendrick. 103 B% 6% AmP & Lt pf A (5 Am Radiator (40¢).. Am Rolling Mill Am Safey Raz (3) Am Smelt & Ref.. Am Sm & Rfg pf (T). Am Sm&R 2d pf (6). Am Snuff pf (6) Am Steel Foundry Am Stores (1233). .. Am Tel & Telez (3) Am Tobacco (16). ... Am Tobacco B (16).. Am Water Wks (3).. oo < Houston Oil (new). « Hudson & Man (3% Hollander Sons. . Homestake M 13.30 Houdallle Hershey Houston O11. Hudson Motor Car. . Fnpn Motors. .. filinais Central. . s She(Deba 13% Stand Gas&E! (3% ). Stand Gas&El pf (4). Stard O11 Stand Oil of Kansas. and O1l N J (12) Sterling Secur pf. & Webster (50¢) Studebaker Corp Studebaker pf (T)... an O11 (1). . un Ol pf (6). perior Ol 9ty Telaut: - . -2 t Pa Pwr pf (7 Western Dairy (A) Western Dairy (B) Western Maryland. 2 =% Western Pacific. .. Western Unfon (4) Westinghouse (1). 124 Westinghse Ist (3%4) T0s Weston Elec Instru.. 2 " White Motor. . iy mission imposed on the St. Louis-Fran cisco management the formulation of 1 reorganization plan scaling down fixe( charges as a condition to approving i loan, the Street has not been as con fident as it was that receiverships, o what amounts to receiverships for va rious weak roads, 11 be averted. It was stocks cf the strong roads however, that gave way the easies today. Atchison made a new low unde $35 & share and New York Centra sold under $14 a share, with othe record low prices for Southern Pacific White Rock (4). n Wilcox Oil & Ga | Rock Island, New Haven and Balt Willys-Overland % | more & Ohio. Wiison & Co. : : | While readjustment of the dividen Woolworth (2.40) 7 |on General Motors common had beer Worthington Pump B, 8 1, | expected, the stock sold off fractionall; Warih Bump CAYS: 175 173 s, |today. As a matter of fact a $1 basy Wrigley (Wm) (4). 3515 35% | means a 10 per cent return at th m 2 p;uenz ma:fet. d;‘l;he trouble is tha the corporation not earn, in the Sales of s“e:‘;) 5;-0 wanzo:%o:unug ey rst quarter, the dividend requirement SRR 200808 n at the reduced rate. The pric | dropped below §$10 a share and tht Dividend rates as given in the above table are the annual cash hksod: ‘e latest roich (ot | preferred, which is amply protecte payments based on the latest quarterly or balf-yearly declarations. | under any conceiva tPartly extra. :Plus 4% in stock. Paid this year—no reguiat i ble circumstances weakened. rate. bP.yflg: n ;mck. ehlnle n cash or stock. fPlus 8% | in <\-me:a(h?uul;81ml§gl:er.n‘l ano"!unw‘ in_stock. o Plus 2% in stock. ) Plus §1 i b . stock. K Plis 3'» in stock m Fald last year—no reguiar rae | The Weakest utility was again West n Plus 5% in stock. D Flus 2%% in stock. ern Union, for which there was no net i - ) DLl 0 S i RECEIVERS APPOINTED |SECOND GUT IN STEEL |ABANDONED FREIGHT | iF mifu s iaifi ol Hhr™s FOR APPALACHIAN GAS WAGES HELD llKELY SERVICES ARE REPLACED to within a fraction of its old low. Th for May 18 and is the next maja By the Associated Press BALTIMORE, May dividend situation for traders to worn WILMINGTON, Del, May 5—Three 5—With the about. Those best informed beliew that the regular rate will be maintained - = PEY A receivers were appointed in Chancery Omission of Common Dividend Is ©Pening of Eastern Shore freight serv- Court for the Appalachian Gas i ice May 14 by the Baltimore, Crisfield Bank of England Statement. Corporation, a haldlhnlg concern con- Believed Forerunner of Fur- | & Onancock line, three of the aban-| LONDON, May 5 (#)—The weeklfi trolling numerous public utilities. e | de " statement of the Bank of Engla; receivership bill was filed by Theodore ther Pay Roll Slash. | °mnl:d services of the Delaware & Vir- | i, "tne following changes in pounds: W. Hauer of Drexel Hiil, Pa., owner | ginla company will have been replaced. | Total reserve decreased 3,782,000; cir- of 500 shares of the corporation's com- | The new company, headed by J. C. | culation increased 3.766,000; bullion de mon smck.l | Garlick, has acquired the Lexington, a | creased 16.000: other securities in. The receivers named are Arthur B. i ne | Creased 2.460.000; public deposits de Koontz of Charleston, W. Va.; O. How- Diesel motor ship of 200 tons freight | cregsed 13,055.000; other deposits in. ard Simonds of Glen Ridge, J., and capacity. She will sail from Baltimore | creased 18,163.000: notes reserve de Elwyn Evans of Wilmington. Tuesdays, Thursdays and Saturdays. | Creased 3,765,000; government secur The business of the corporation con- The Victor Lynn Transportation Co, | Hes increased 6.455.000 sists of owning stock and other securi- | has taken over the Cambridge route of ties of other corporations. It owns 100 the Delaware & Virginia company, and steamers now are operating in the Rap- nahannock and Yeocomico routes. Am Woolen vtc new. Am Woolen Co pf. Am Zinc & Lead pt. .y Anaconda Copper. Anchor Cap (2.40) Archer-Danfels (1).. Armour of Del pf(7). Armour of Il (A)... 4 Armour of 111 (B). Armour of 111 pt. Assoclated Appar Asso Dry Good Atchison (4).......u ! Atch To&S Fe pt(5). At] Coast Line (4)... Atlantic Refining (1) Auburn Auto (f4)... 215 Aviation Corp (Del). Baldwin Locomotive Baltimore & Ohlo. Balto & Ohlo pf. Barnsdall Corp Beutrice Cream (4).. Beech-Nut Pkg (3).. Bendix Ava (60c). Best & Co (2) Bethlehem Steel. Bethlehem Stl pt (7) Blaw Knox Bohn Alumn & Brass Booth Fisheries. Borden Co (3).... Borg Warner (1) Briggs Mfg (1).. Bklyn-Man Tran (4). Brown Shoe (3). Bucyrus-Erie. Bucyrus-Erie cv pf.. Bullard Co.......... Burroughs Add(86c) Bush Terminal(2%). Butte Copper & Zinc. Brers (AM)........ Byers (A M) pf(7) California Packing.. Calumet & Hecla. ... Canada Dry (1.20). Canadian Pacific 1%. 4 Capital Admin (A) 4 Case (J 1) Co.. Caterpillar Trac 50c. Cavanaugh-Dobbs pf Cent Aguirre (134). . Century Rib M pf(7). 4 Cerro de Pasco Cop.. Checker Cab Mfgr... Ches & Ohio (2%4)... Chesapeake Corp(3). Chi Great West pf. Chi Mil StP & Pac... Chi Ml StP & Pac pf. Chi & Northwestern. Ch! Pneu Tool. Chi Pneu Tool pf.... Chi Rock 1 & Pacific. Chi R1& Pac7% of. Chi Yellow Cab (2).. Childs Company..... Chrysler Corp (1). City Ice&Fuel (3.60). City Ice&Fuel nf 6% . Clark Equipment. ... Coca Cola (18). Coca-Cola (A) (3)... Colgate-Pal-P (2%). Collins & Afkman. Colonial Beacon. Colo Fuel & Iron. Columbia Gas (b1) Columbia Plc ctfs. Columbian Carb (3). Com! Credit (1)..... Com] Credit A (3). Comel Cred pf (1%). Comel Cred 1st(6%). 1 Comel Inv Trust (2). Comel Inv T war sta. Comm Solv (60c).... Comwlth & Sou(30c) Comwlth&Sou pf (§) Congolm Nairn (1).. Consol Clzar (3). Consol Film. .. Consol Flim pf (2) Consol Gas N Y (4) Consol Gas NY pf( Consol Laundries(1) Consol 011 Corp. ... Consol Textile. Contl Baking (A).... Contl Baking pf (8).. Contl Can (2%)..... Cont Diamond Fibre. Cont Insur (2.40).... Contl MOtors. ..eueee Contl Oil (Del)...... Corn Products (3)... Corn Prod nf (7).... Md) » Interboro I « Intercontl Interiake Iron int Bus Machine(n6) | Int Carlers Ltd( Int Cement (2).. Int Combustion. Int Combustion pf. “ Int Harvester (1.80). 19 568 Int Harvester pf (7).x 3 85 3 T Iydro El A (e2) Int Match pfd. % Int Merchant Mar Irt Nickel of Can. Int Paper pf.... 13 Int Paper & Pwr pf. Int Rys Cent Am Int Shoe (3). Int Sflver. Int Tele & Telog » Dept § Pl XW(7) common stock. Lanston In Strong Position. The report stated that Lanston’s cur- rent assets include cash on hand and bills and accounts receivable of $3.276,- 153, or $57.73 per share. Investment and inventory amount to an additional $32.70 per share. Total reserves are shown in the Treasurer's statement as $1,942311, against an original cost of real estate and buildings, machinery and equipment, furniture and fixtures of $2,659,196. Reserves for patents were set up during the year at the approved rates. The company has total assets of over $10,000,000. President Best reported sales were below normal last year, as was the case in almost every other business. Ce: tral and South American business was limited by very unfavorable exchange conditions. The Barrett Adding Ma- chine division also suffered from pre- vailing conditions, but a new direct subtraction feature materially heiped to maintain distribution, Mr. Best said. Economies were effected rough es- tablishing short-time work in the fac- tory and by substantial reductiors in all salaries rather than by dismissals. President Best reported that the English Co. showed most gratifying maintenance of sales end profits. Sev- eral new inventions were perfected dur- ing the vear, as well as new type de- signs. The president concluded his statement with a reference to the death of the treasurer, Joel G. Clemmer, on November 14. Same Officers Are Re-elected. All the directors were re-elected, in- cluding Harvey D. Best. M. C. Branch, Karl W. Corby, John W. Drye, jr.: J. Thilman Hendrick, Adrian H. Larkin, Royal T. McKenna, W. Usher Parsons and George W. White The directors organized for the com- ing year by re-electing these officers: J. Thilman Hendrick, chairman of the board; Harvey D. Best, president: T. Frank Morgan, A. E. Pagola and Frank J. Broderick, vice presidents; John A. Ferguson, secretary; Allen R. Fretz, assistant secretary; Wilfred Bancroft, treasurer, and Harvey W. Monks, assis- tant treasurer. At the conclusion of the annual meeting Chairman Hendrick reported that the company's business in April of this yesr had shown distinct improve- ment over March. Exchange to Close Saturdays. The governors of the Washington Stock Exchange have voted to close the Exchange on Saturdays during the re- mainder of May, June, July, August and September. This is the usual ac- tion taken during the hot weather. Today's market was quiet. The first sale was 10 shares of Capital Traction stock at 12, Potomac Electric Power 6 per cent preferred came out at 1071:, the same strong price as in other recent sales. After call, Washington Gas Light 5s figyred in a $1,000 sale at 100%, while Washington Gas 6s, series B, recorded the transfer of two baby bonds at 102%. Building Association Elects. Stockholders of the V/ashington Pe manent Building As:o annual meeting vesterday 11 Tennessee Corp. 10 TexasCo (1).. 16 Tex Gul Sulphur (2). 114 Tex Pacific Coal&Oil 33 Tex Pacific Land Tr.. 2 Tide Water Asso Oll. nken Roll B1%.. 2's Transamerica Corp.. 2 Tri-Contl Corp...... 42 Tri-Contl Corp pf(6) 1% Twin City RapTran. 2313 11 Und-Ell-Fisher (2). 10% Union Bag & Paper. . 1613 Un Carb & Carb (2) 9y Un Oll of Calif(1.4 463 Union Pacific (10)... 51'3 Union Pacific pf (4). 13% 20% 2% 65 3y 23 6 P R aaniBe s L yser (J) & Co. 1ly Spring Tire Kelvinator Kennecot Kress (SH) Co (j1). 1% Krevzer & Tell...... 11% Kroger Grocery (1) 317 BY FRANK H. McCONNELL, Assoclated Press Financial Writer, NEW YORK, May 5.—A second down- ward readjustment of wages by the United States Steel Corporation is being widely discussed in the steel trade as an early probability. While officials of the corporation have declined to comment publiclv upon the matter, sources usually well informed | MONEY MARKET say the matter has been thoroughly | surveyed by the United States Steel| NEW YORK, May 5 (#).—Money executives in recent weeks. markets were unchanged today. Inac-, Omission of the common dividend a | tivity was rather pronounced in bankers’ i week ago, coincident with report of first | acceptances, dealers reporting a meager | Amer quarter operations showing the largest | supply and a selective demand. Interest rates for call and time funds held at | Beld) 565 Lambert Co (8). Leh Port Ce R Lehigh Valley R R. . Lehman Corp Lehn & Fink P Libbey Owens Gla Liggett & Myers(15) Ligg & Myers B (15) Ligg & Myers pf (7). Lima Locomotive Link Belt (1.20) Ligquid Carbonie (2). Loew's Inc (14) Loft Inc. Loose Wile 7). Lorillard (P) (1.20), Lorillard (P) pf (T). Lou Gas&El A (1%). Louisvilie & Nash(4) McAnd & For (1.40). McAn&Forbes pf(€). 140s Mclntyre Pore M (1) 4 McKeesport T P (4) 2 McKesson & Robbir Mcliesson & Rob's pf McLellan Stores. ... McLellan St pf A(6). Mack Trucks (1). Macy (R H) (n2).. Manhat Elev gtd (7). Manhat Elev mod gtd rine Midld (80¢). . Marlin-Rockwell(1). Marshall Field & Co. 8 Mathieson Alkili (2) 8 Mathieson Alkpf(7) 20s May Dept Stores 1.30 Maytag Co. . ;i Mesta Machine (2 Miami Copper. MSIP&S S Mo Kan & T Mo Kan & Texas pf Missouri Pacific. . . Missouri Pacific pf. Mohawk Carpet. Monsanto Chem Mo Morreil (J) & Co (3) Mother Lode Motor Whee Mullins Mf, | The proportion of the bank's reserv per cent of the common stock of Texas to liability is 32.68 per cent, compare¢ with 37.34 last week Gas Utilities Co., Monroe Consolidated Gas, Commonwealth Gas Corporation, Rate of discount, 3 per cent. Carbon Black Production Corporation - and Appalachian Management & En- SHORT-TERM SECURITIES. gineering Corporation. (Reported by Chas. D. Barney & Co.) The corporation also has large stock imers Co. 58 1037..... T OB interests in the West Virginia Gas Cor- Chain Co. 6 1933 i3 poration, Wayne United Gas Co., Ohio Wai Wis & EI 351954 15 Valley Gas Corporation, the Empire 10s 8 3 4 2 Balt'more & Ohio 4'ys 1933 42% Corporation, the Memphis Natural Gas | operating deficit in the company’s his- s et o’ = Corporation and the Allegheny Gas| tory, has been regarded in the steel | recent levels. Possibility of a rediscount | Cana Nor. Rwy. 4las 1935, 93 Corporation. | trade as paving the way for a further | rate cut received some discussion, al- | Chi western R. R Ss 1033 38 The bill of complaint states that the | wage readjustment. It is pointed out | though it was pointed out that change | Chicasq Rock Isiand 45 1038 corporation Wwill not have available | that a belated Spring revival of activity | might not be made while an outward | Colorado & So. Rwy. 4’25 1935.. funds to meet and discharge the semi- | in the industry might have stalled off ' gold movement was in progress. Commercial Credit Co. 5z gnnual interest pavment on its - de- | Such action, but that no revival of con- i | Behver & it Grands itos ntures, the principal amoun | sequence has occurred. e first quar- | Gen. Mot. Accep. Corp. 65 B e e Aot ot | i s Joee of 41 335000 be- | U. 5. TREASURY CERTIFICATES | S=. Mok, hecen, Core able, all falling due this month. | fore payment of preferred dividends. | (Reported by Chas. D. Barney & Co) Bate—Mawricy 4’ Qner- A 10 per cent reduction in wages was | 1933 9:32, | Humble Ol 5%5s 1932 2 | Laclede Gas Light Co. 55 1934 e | put into force by the corporation last | HOMESTAKE MINING. | October 1o i 3134? | Lacleas aas Lidh: © £ 5 Nashville 55 1937 NEW YORK, May 5 (#).—The Home- | 333 | few Jork Cent & H. 45 1934 stake Mining Co. has declared a month- | 32 2 ly dividend of 75 cents, nlacing the | R. R. C stock on a $9 annual basis, cumnared T | Rortiand e Rue: | with $7.80 previously. The dividena is | Sinciair Criide Oif Co. 345 1938 ° fic 5+ 1934 ayable May 25 to stock of record May 2 e | Southern Pa s ! ke FOREIGN EXCHANGE. | SETAS RY, R & G 45 1933 | Trion v & Pow (Quotations furnished by W. B. Hiibbs & Co.) | Union OIf Co of Catt 501350 Nominal gold Selling checks | Virginia Rwy. & Power 55 1034 . Wabash Rwy. Co_5s 1939 6% With Safety In Guaranty First Mort- tected Invesiments In denominations as low as $100 $50,000,000 SUIT. | | 3345 M DANVILLE, Va., May 5 (Special) — |28 Mar. | Julian Fretwell of this city has brought | | sult against the Gillette Safety Razor | Co. in the U. S. District Court at New- ark, N. J., for the recovery of $50.000,~ 000 damages. Mr. Fretwell alleges in- fringement of his patent on razor blades, claiming to have invented the | newly perfected slotted blade adopted | by the company without paying him for it. The figure in the suit is ar- | rived at by a computation of the sales by the company. which, he alleges, re- ported a sale of 3,000,000 blades every month. 55 1940 CHICAGO DAIRY MARKET. CHICAGO, May 5 (#)—Butter, 7.696: easy; creamery-specials (93 score), 174,a18%; extras (92), 1704 extra firsts (90-91), 16%al7: firsts (88-89), 16a1612: seconds (86-87), 14al15; stand- ards (90 centralized carlots), 171, | Eggs, 22,208; firm; extra firsts. 13 fresh graded firsts, 12'5; current re- ceipts, 11al2; storage packed firsts, 1415; extras, 15. et BUSINESS FAILURES. | NEW YORK, May 5 (#).—Business failures numbered 610 in the week | ended April 28 as compared with 603 in the previous week. according to g Bradstreet’s. The gain of 12 per cent Ralls. DL Tota contrasts with a normal expected drop 3 138 4 of 6.3 per cent. 5 4 5! SILVER QUOTATIONS. NEW YORK, May 5 (#)—Noon— Silver futures steady, sales 625,000 | ounces. May, 27.42T: July, 27.60B; Sep- tember, 27.90B; October, 28.12T: De- cember, 28.32B. U. S. TREASURY BALANCE. The United States Treasury balance announced_today as of close of busi- ness May 3 was $723,596,260.72. Cus- toms receipts for the month to date were $1,301360.17. Total expenditures were $22,375,717.44 NEW YORK BANK STOCKS NEW YORK, May 5 (#).—Over-the- counter market: BANKS. London, pound Paris, frane Brussels. beiga Berlin, K. Rome," lir Zurich, franc Athens, crachm: Madrid, peset: Vienna, schill; Budapest, pengo. . Prague, crown (nom.) Warsaw, zloty..... Copenhagen, crown. . Oslo, crown’.. Stockholm. ciown inations CONVENIENT DEFERRED PAYMENTS Real Estate Mortgage and Guaranty Corp. 1610 K St. Nat. 1403 nd re-elect- ng officers and di- president; John e president; C. J. Berg- 1 H. Bergmann, C. Ramm- es R. Ellis Walten, Jo- Miller, di- rectors: E. J. Henderson Nash Motors (2) Nash Chat & St L... Nat Biscuit (2.80). Nat Cash Reg (A) Nat Dairy (2.60).... Nat Dist Prod (2)... Nat Lead pf A Nat Pwr & Lt (1). Natl Steel (1)..... Natl Surety. Natl Tea (60c Nevada Con Copper Newton Steel....... Y Central. 193 Y & Harlem (5 10s \ Y Investors. ..... 4 Y N H & Hartford., 20 YNH&HPE(T).. Y Ont & Western. Y Shipbuilding. . Noranda Mines Norf & Westn North Am Av 7 Nor Amer(b10%stk) 97 h Am Ed pf (6). 1 rthern 30 Market Averages. By the Associated Press. NATIONAL IETROPOLITAN 1814—BANK—1932 . When Did You Write —Your Will.. .five years ago or per- haps longer? Even twelve months often bring about changed condi- tions that counsel alterations in your last testament. OUR TRUST DEPT. is ready to advise with you about your Will, or other fiduciary matters, without obligation to you. Fifteenth Street Opposite U. §. Treasury STOCKS. seph N. Saunders, Tectors. The association is ne and jts assets 95, the fi mcre than $7.000,000 Loans made since organization total more than $23000.000: stock paid in, more than $20,000000, and dividends and i paid, more than $5,000,000. Gleaned in Financial District. The Beltimore & Ohio has been granted the right by the Interstate Commerce Commission to issue $55.- 813,000 refunding and general mortgage | 6 per cent bonds in connection with| & proposed note issue Drug. Inc., has d quarterly _dividend payable” June 1 May 16 Dividend acti terest we 8 ; 51 years old from $38,624.- existence, to " Week ago Month ago ; Year azo | P [V 0 FITIIS T IO Three years ag: Five years ago.l High, 1932 ... . 19820 . 1931 v 1931 1930 1930. EBaka SN2 41 4 25k 1% o Gemo—ownoows ES22SIES5L 4T 12915 104 181 Cream of Wht 123 Crucible Steel. . . Crucible Steel pf (7). Cudahy Packing (4). Curtis Publishing(2) Curtis Publish pf(7) Curtiss Wright. .. % Curtis Wright (A) Cutler Hammer. . 579 58.4 e &3 13 649 65 - o 836 99.8 1007 r;? l‘})a:r rc‘fi_alraer 941 1062 99.1 stock of record Two years ago Three years ago Hign, 1932 Low.' 193: High. 1931 Low. 1931, High. 1930. Low 1930 * New 1932 low (Copyright, 1932. Standard Statistics Co.) of to 1579 584 204 105.7 10 94.9 1098 101 833 973 96. Ohio OM.. . Omnibus pt (A) (8). nheim Collins Orpheum Circuit pt Otls Elavator (3 Outlet Co pf (7) Owens 111 Glass (2) Pacific Gas & Bl (2). Pacific Lighting (3). Pacific Tel&Telez(7) 590s Pacific T & T pf (6):. 20a ard Motor Car. t Publix. Park Utah. . Pathe Exchange Patino Mines I'eerless Motor Car.. Penick & Ford (1) Penney (J C) (2.40). n of unusual local in-| 6 2 late yesterd when the commo ts per share. The reg idend of $1.25 a share v 8222228282322 BORI DB aB®— Davison Chemical. .. Deere & Co (40¢). ..« )4 Delaware & Hud (9). 11 Delaware Lack & W. 80 roit Edison (8).. 4% Devoe & Ray A(60c). Diamond Match (1). Dome Mines (11.20). A large delegation of W surance underwriters will attend the Fourteenth Annual Maryland and Di trict of Columbia Congress of Life Un derwriters, to be held at the Lord Bal- | Db oita timore Hotel, in the Monumental City, bl U ,, Pack Products Corporation,| %is 44% Rastman Kodak (5). X 8 1191 110 Eastman Kod pf (6). 10s qua: d rents on & 4% tonAxle& Spr 60c. 1 referred, | lec Auto Lite (4) 21 < of record | Electric Boa Elec&Musical Instru ington in- Bid. Asked 28 303, 8 12 1140 1280 201, Chase (3) . Commercial (8) Pirst National (100) . Manhattan (2) National City (3) .. Public () ...... TRUST COMPANIES. Authorized Service Delco, Remy, Klaxon, Northeast & Sparton Horns MILLER-DUDLEY CO. 1716 14th St. N.W. North 1583-4 PROPERTY MANAGEMENT the. Apartment House Continental (1 - Corn Exchange (4) . pire (2) - the 1 in an the Consolidated Gas of Baltimore. BALTIMORE, May 5 (Special) — Gross operating revenues of the Con- solidated Gas, Electric Light & Power Co. for the first quarter of 1932 was $7,604,451.64, a decrease of $188,891.66 from the corresponding quarter of last year, according to the statement filed with the Public Service Commission. Gross operating revenue from electric operations showed an increase of $33.- 313.37, while a decrease of $226,011.27, occurred in gross operating revenue from gas operctions. From steam oper- ations there was an increase of $3,- 806.24 Total net operating and non-cper- ating revenue for the quarter showed a slight decrease as compared with last year's period, the figures being $2,779,- 760.72, as against $2,927,327.56. After fixed charges (which showed a small decrease), surplus available for dividends was less by $131,888.90, than that for the first quarter of 1931. After dividends, surplus for the quarter was $716,184.50, a decrease of §139.603.46 from the first quarter of last year, Elec Pwr & Lt (1)... Elec Pwr & Lt pf(6). ec Pwr & Lt pf(T)e ec Storaze Bat (3) ndicott-Johnson(3) wdicott-John pf (1) Eng Pub Sve (1.40).. Equit Office Bldg 2% ErfeRR....c.00. Erle RR1stpf... ireka Vae ( 3l Falrbanks-Morse. ... 215 Fachion Park As pf.. 3% Fed Water Service A 11 Fid4 Ph Fire In(2.60). 48 Firestone T&R pf(6) 39' First Natl Strs (2%) 's Fisk Rubber. 4% Foster-Whealer. 2 Fox Film (A) i Fresport-Texas (2). Gamewell Co (1) Gen Am Investors. .. en Am Tank Car(4) cn Asphalt (1)..... Gen Baking (2). en Bronze. . Gen Cigar (4). Gen E| Gen Elec spec (60c).. Gen Food Corp (3) Gen G&E A (b6 % st 815 Gen Gas&E ov pf(6). 7 Gen Gas & ElecA(T). 285 Gen Mllls (3). 2 BHAF e e e 42 33 54 2% Radio-Keith-Orph & 15% Reading Rwy (1). 19 214 Real Silk Hostery 1% Remington-Rand. 67 Rem Rand 1st pf. 144 Reo Motor Car.. Penna Railroad Peoples Gas. Chi (8). Pere Marquette pr pf Petrol Corp of Am. .. Phelps Dodge Co Phila & Read C & G Ir Suaranty (20) ving Manufacturers New York Trust Title Guaranty & Trust (4.80). “Includes extra (1.60) (5) Phillips Petroleum. Pierce-Arrow pf. Plerce O1l. Pierce Petroleum. Pilisbury Flour (2 Pirelli (A) (a2.58).. Pitts United Corp. Poor & Co (B).. Postal Tel&Cable pf. Prairie Ofl & Gas. ... Proct & Gamb (2.40) Producers & Refin. .. Prod & Refiners pf. . Public Sve NJ (3.40) Pub Sve G&E pf (5). Pullman Corp (3) Pure 01l Purity Baker dio Corp. . dio Corp pf B R Sec [11C (3%).. Raybes-Manhat (1). 700 Reading 1st pf (2). First Mortgage Loan Glover & Flather Applications a on Residences Invited at 6% 1508 H St. N.W. National 1753 —to preserve, are e utilize our Storage facilities, in centrally- PROOF Building guarded day and night by watchme insuring maximum safety. fWhy use valuable space, in your office, when we furnish— Individual Rooms as low as $4 per month —equipped with racks to fa- cilitate examinal whenever desired? Merchants Transfer and Storage Co. JOHN L. NEWBOLD. JR., President 920-922 E St—Nat. Storing—Moving—Packing located n of records, Over 50 Years of Quality Service PRINTERS and PUBLISHERS —and OTHERS having Valuable Records invited to | FIRE- hmen, thus 6900 hipping of 925 15th St. N.W. MORTGAGE MANAGEMENT HAT should be done in this or that matter in con- nection with the management your apartment house property is just where our serv- ices are an important advantage. We take care of every contin- gency—in your best interests. Our fee is a very moderate one. B. F. SAUL CO. Nat’l 2100 LOANS