Evening Star Newspaper, June 9, 1932, Page 14

A_14 wE¥ FINANCIAL. THE EVENING STAR, WASHINGTON, D. C, THURSDAY, JUNE 9, 1932. HOSKINSON NAMED | AS BUSINESS AID Riggs Bank Official Is Secre- | tary of New Fifth Dis- trict Unit. Hilleary G. of the Riggs made secreta being formed gerve district, posed of and business men, 10 assist in hasten- ing the busiiess Tecovery, it was learned in the financial district today. At the meeting held in Richmond Tucsday _afternoon at which Gov. George J. y Hoskinson. vice president National B: y ¢f the or serve Baak pr ed. th were fect an org in the fifth district such has been started in the Ne Milleary G. Hoskinsory York Federal Re- serve district and in the Chicago dis- trict and will be launched at once in all the other Federal Reserve districts. Mr. Hoskinson was appointed secre- tary at that meeting. At the tim> Robert anded and complete its orcan; a short Huebner Addresses Underwriters. Dr. Solomon S. Huebner, dean of the Wharten Echool of Commerce, Univer- -gity of Pennsylvania, in addressing the District of Columbia Life Und > Association at luncheon y the Washington Hotel, decl: never before had property values s small or life values locmed as at this time. Hedging of life values, he said, would guarantee the time neces- gary to rebuild prove mal levels. The spe underwriter could I to prosperity 1f o render Huebnt fcan C lined t work e of Life Und owth of thc pregram of gens the Jife underw professional Under he said, t part in ance men needs and problems of today. twated the life underwriters ton on the work they ere n the National Capital on ren- g professional insurance scrvice lified the nev Regional Conference. Dr. Huebner, educational adviser of | the Massachusetts Mutual Life held his 1al conference to of that ¢ uilding. In 2 of the iocal 2 there w o) tatives from the Richmond, and Charleston, W. Va. offi He discussed Steps That Count Sclling and Maintaix Life In ance.” Forty Years' Service. William M. Hoffman, president of the Firemen's Insurance Co. of Wash- | ington and Georg: will complete | he employ | of the organization of w the head on June 12, During Mr. company has prosp: , substantial dividends to Business Defaults Fewer. | The smallest number of business de- | saults, as reported to Bradstree early December of last year. sstered during the week ending June The number fell sharply from 596 to 489, a decrease of 18 per cent, which | was accompanied by a decline of 65.4 per cent in liabilities involved. A drop | of 10.8 per cent is normally expected | at this time, due to the business we being shortened by the holiday. but the greater actual dec b Bradstreet’s adjusted index of wee failures (1928-30 100) do the lowest it has beer uary. This since mit comy h 1436 the preceding week. 1479 two we ago and 1149 for the same wee 1931 he past week compares with 425 failures week last yea All trade groups shared in the de- cline in number, except the ban group, which remained the same, street’s finds. The decrease was large: in the retail group. which dropped from | 406 to 343. Liabilities involved fell off in all groups except the manufacturing, the increase in this group being due to the failure of a sizeable. Pennsylvania publishing company and a large south- ern on mill. Liabiiities declined most heavily in the commercial service and banking groups The South Atlantic and South Cen- tral were the o sions to show increases in number of | failures, while the Middle Atlantic and Central showed the most marked de- creases. As to liabilities involved, how ever, the districts were evenly divided, the New England and Mountain sec- tions gaining, as well as the South At- lantic and South Central. The drop in the Central region alone equalled the decline in total liabilities. The increase in liabilities was greatest in the New England section. In the South Atlantic section failures increased from 36 for the week ended May 26 to 46 for the week ended June 2, as compared to 41 for the week of May 19 a vear ago. i A committee of the board of directors | of the District National Bank will at- tend the funeral tomorrow of William P. Lipscomb, vice president of the bank, at the residence in the Ontario Apar ments at 2:30. He had been a vice | bresident of the bank many years. of | 489 the same SILVER QUOTATIONS. NEW YORK, June 9 (#) tures dull, sales none: July, Sepiember, 2840 bid; Octol gfg December 28.85 bid; Janua; 28.55 ¥, 29.00 S U. S. TREASURY BALANCE. sury receipis for June 7 were $4, 249.267.33; expenditures, $21,637.421.69; balance, $270,658,150.69. Customs cu- ties for seven days of June were $3,- 820,445.7. NEW YORK BANK STOCKS NEW YORK, June 9 (#).—Over-the- counter market. BANKS. Chase (2) ... Commercial " (8) 4 First National (106) . Manhattan (2) . National City (2) Public Bid. Asked. R 24741 TRUST COMPANIES, Bankers (3) Brooklyn Trust (16) Central Honover (¢ Chemical (1.80) Continental €orn Exchan Empire 5 Unranty (20) e CLeay . Manufactizers 1 New York Truse (5) 00070 58 61 Tigg Gueranty & Trust (4.80);4 31% 34% ludes extra. | Daylight Saving Time Is Used in All Market Editions. ~Prev. 1932~ Hizh. Low. 5t 13 313 169 6215 16% b 871y 119 13% 181 15% 59% 101 261 1% 40 -y Dividend Rate. 1% Adams E3press. .... 67 Addressograph (1).. 11 Adv Rumley. 4'4 Affiliated prod 1. Air Reduction(t4%) Alaska Juneau (50c) Alleghany Corp..... Allied Chemical (§).. Allled Chem pf (7)., Allis-Chalmers(50¢) Am Bank Note. Am Br Shoe (1.60) Am Brake Sh pf(7).. Am Can Co (15). . Am Can Co pf (7)... Am Car & Foundry Am Car & Fdy pf (7 Am Chicle (13)...... Am Com Aleohol new Am Encaustic Tiling Am & Foren Pwr Am&Forgn Fw(6)pf. Am&Forgn Pwi(7)pf. Am & For Pwr 2d nf. Am Haw St'ship (1), Am Home Prod 4.20.. AmIce (2).....c00 Am Ice pf (6) Am Internatio! . Am Locomotive. Am Locomet pf(7) Am Mch & Fdy 140, Am Mach & Metals. . Am News (3)..... 3 AmPwr &Lt (1) 4 AmP&Ltpf A (5 Am Pwr & Lt pf (6 Am Radiator.... . Am Radiator pf (7).. Am Rolling Milla. ... Am Safey Rax (3)... Am Smelt & Ref. Am Stores (123%), Am Sugar (2)....... Am Tel & Telez (9).. : Am Tobaceo (16).. Am Tobacco R (16).. A Water WKs (2).. m Wat W 1st pf(6) Woolen vic new. Am Woolen Co pf. Am Zinc & Lead. Anaconda Copper. Archer-Danfels (1).. Armour of Del pt(7). Armour of Il (A)... Armour of Il (B)... Armour of Il pf.. Artloom pf. .. Associated Apparel.. Atchison (4)........ Atch To&S Fe nf(5). Atlantic Coast Line. Atlantic Refining (1) Atlas Powder pf (6). Auburn Auto (f4)... Aviation Corp (Del) Laldwin Locomoyve Baldwin Loco pf. Paltimore & Ohfo. ... Bamberzer of (6%). Leather pf... dall Corp Cream(2) Hemingway viation. . Best & Co..... 3 Bethlehem seee Bethlehem Sti pf (7) Bohn Alumn & Brass Borden Co (3) Borg Warner. . Briges Mfg (1) s&Stratton(1). Man Tran (4) <lyn-Man Tr pf (6) tklyn Union Gas(s). Brown Shoe (3)..... truns Term & Rwys. Bueyru: ecvpf.. : Budd (5 G) Mfg.. Eudd Wheel. Burroughs Add(80c) Bush Term deb (7). Bush Terminal pf(7) Dyers (A M) lumet & Hecla. nada Dry (1.20)... nadian Pactfic 1%.. nnon Mills Co (1), « Case (J 1) Co. . Case (J 1) of (7). 4% Caterpillar Trac 50c. Tt Cent Azuirre (1%).. 70 Century Rib M pf(7). Cerro de Pasco Cop.. Checker Cab Mfzr. .. Ches & Ohio (2%4). .. Chesapeake Corp (2) Chi M1l StP & Pac. Chi Mil StP & Pac pf. Chi & Northwestern. Chi Prieu Tool. . Chi Pneu Tool pf. Chi R 1& Pac 6% pf. Chrysler Corp (1). City Ice&Fuel (3.60) City Stores. .. £6 Coca Cola (18). 44 Coca-Cola (A) (3)... 12% Colgate-Pal-P (214) . “olz-Palm P pf (6).. 5 s & Aik pf (7). 4% Columbia Gas (b1).. '3 Columbfap Carb (3). mm Credit (30c) Coml Credit A (3). 40 Comel Cred 1st(6%). 12 Comel¥red pf (1%). 16% Comelnv Trust (2). Comel Inv Tr pf 6% 15 Comm 1pv ev pf(e6). Comm Solv (60c).... 1% Comwlth & Sou(30c) mwith&Sou pf (6) Nairn (1).. 13 Consol Film. . “Consol Fiim pf (2) 3 Consol Gas N Y (4).. g as NY pf(5) Consol Laundries(1) Consol Oil Corp. . Consol Oil Cp pf(8).. 14 Consol Textile. ... 27« Contl Baking (A) 73 Contl Baking (B) 247 Contl Baking pf (8).. 19% Contl Cah (23])... 3 Cbot Diamond Fibr €% Cont Insur (2.40) *y Contl-Motors. “« Contl Oil (Del). 14 Contl Shares. % Corn Products (3). 99'3 Corn Prod pf (7). 115 Coty Inc. ... 1 Crown Zellerback. .. 15% Crucible Steel pf. ... 13 Cuba Co. A 20 Cudahy Pack (2%) ss Wright. mans pf (8 Delaware & Hud (9). Delaware Lack & W. Detroit Edison (8).. Diamond Match (1) . Diamond Mtch pf 1% Dome Mines (11.20). Dominion Storest1% Drug Corp (4)... Dupor:t de Nem (3).. Dupont deX db pf(6) Eastman Kodak (5).. 2 Elec Auto Lite (4).. Elec&Musical Instru ~ Elec Pwr & Lt (1). 2 Elec Pwr & Lt pf(6 Elec Pwr & Lt pf(7). ~ Elec Storage Bat (2) Squit Office Bldg 13 79 1e R R 1st pf. . Zureka Vac (a2) Fed Lt & Trae pf (6) Fed Water Service A 6 Fid Ph Fire In(2.60). 103 Firestone T & R (1). 45'; Firestone T&R pf(6) 37 First Natl Strs (2%) 78 Florsheims pf (6)... 1% Fox Film (A) 5 10 Freeport-Texas 53 Gamewell Co. . % Gen Am Investors. 41 Gen Am Inv pf (6). 10 Gen Am Tank Car(1) 5 Gen Asphalt (1). 14 Gen Cable. . 20 Gen Cigar (4) 84y 8l 108 19% 14 C 4n 181 28 Gen Food Corp (3).. *n Gas & Elec (A). Gen evpf A(p6) Gen Ital Edis (2 Gen Mills (3)... Gen Mills pf (6). Gen Motors (1) . Gen Motors pf (5)... Gen Outdoor Adv Gen Printing Ink Stock and sales— Add 00. High. - - ElamaxioanFan 10: RoaKE HRKRBG® ) - @ a5 e S § -5 an 103 2% 2 2 10% 10 10% 1% 5 35% Th kd 48% 105 5 615 7 43 35% 1024 31y 21% 221 13 15 2 6 6 3% 3% 2714 10% 40 Low. Close. Chie % N High. 14% 24% 7 54 6% 19% 5% 17 18% 61 14% 4% 134 30% 25 13% 80 8 24 17 10 8 815 83 83 443, 121 18 35 25'% 84 233, 9% 9 2 11% 10% 13 19 37 1874 467y 120 14% 31% 2415 Stock and Low. Dividcnd Rate. 2% Gen Refractories.... 10% Gillette Stf Ras(1).. 314 Glidden Co 35 Gl'dden Co pr pf (7). 2% Gobel (Adolf). 8% Gold Dust (1.60 2% Goodrich (BF). 7 Goodrich (BF) pf 5% Goodyear Tire&Rub. 15% Goodyear 1st pf (7).. T% Gotham Silk Hoslery 1 Graham-Paige . 6% Granite City Steel(1) 14% Grant (W T) (1).... 514 Great Northern pf(2) 514 Great North Ore(2). 48 Great Wn Sug pf(7). 214 Gulf States Steel % Hahn Dept Stores. .. % Hartman Corp (B).. 33 Hawailan Pineapp 50 Helme (GW) (17) 4% Hercules Motor. . 46 Hershey Choc (6). ... Hershey Choc pf 15.. Holland Furnace (1). Houdaille Hershey.. Houston Ol. 5 Houston Ofl (new).. Hudson & Man (334). Hudson Man pf (5) Hudson Motor Car. s Hupn Motors 4% Ilhinois Central. ... 10% Industrial Rayon (2) Ingersoll Rand (3).. 11 In.and Stee Inspiration Coppe: Ins'sharesDel a6; Ins'shares Md(a7c). Interboro Rap Trans Int Bus Machine(né) Int Carfers Ltd (40c) Int Cement......... Int Combustion. ... Int Harvester (1.30). Int Hydro E1 A (e2). Irt Nickel of Can. .. Int Paper & Pwr (A) Int Paper & Pwr (C). Int Paper & Pwr pf. Int Sait (134).. Int Shoe (3)..... Int Tele & Teleg 104 Island Cr'k Coal (3). 15's Jewel Tea (T4%3) - 10 Johns-Manv!1l - 36 Jones & Laugch pf(4) 813 Kan City Sou pf (4).. 3 KaufmnnDS (80c).. 6% Kayser (J) & Co... 'z Kelly-Spring Tire 10 Kelly-SpT 8% pte 23, Kelvinator Corp. .. 5 Kennecott Copper. 814 Kresge (SS) Co (1) 19 Kress (SH) Co (j1). 10 Kroger Grocery (1). Tambert Co (15).... Leh Port Cmt pf (7). Lehixh Valley Coal. Lehigh Valley R R. . Lehman Corp (2.40) Lenn & Fink Prod(2 Libbey Owens Glass. Liggett & Myers(t5) Lizgg & Myers B (16) Lima Locomotive. .. Link Belt (1.20) Liguid Carbonic Loew's Tnc (14).. Loew’s Inc pf (63) Loose-Wiles (13).. Lorillard (P) (1.20). Lorillard (P) pf (1). Lou Gas. Louisviile & N: Ludlum Steel. ; Ludlum Steel McAnd & For ( MeCall Corpn (2)... Melntyre Pore M (1) McKeesport TP (4). McKesson & Robbins Mack Trucks (1). Macy (R H) (n2).. Madison Sq Garden. . 2 Magma Copper(i0c). Manhat Elev mod gtd Ma: Midld(80c). . Mathieson Alk (134) May Dept Stores 1.80 N Mid Continent Petm. Midland Steel Prod.. Mo Kan & Texas Missourt Pacific Missouri Pacific pf.. Mohawk Carpet. ... Montgomery Ward.. Motor Meter G & EI Motor Products (2) Motor Wheel Muilins Mf; 3 Murray Corp X Nash Motors (2). at Acme Co. ... at Biscuit (2.80) at Biscuit pt (7). at Cash Reg (A) at Dairy (2.60). 26 101 6% Nat Lead pf A (1) Nat Lead pf B (6) Nat Pwr & Lt (1). atl Steel (1). at Supply Co. Nevada Con Co N Y Central. ... Y Chicaro & St L. Y & Harlem (5)... Y Investors...... Y N H & Hartford. Y NH&Hpt(T) Y Ont & Western. N Y Steam 1st pf(7). Noranda Min (a50c). Norf & Westn (112). North Am Aviation. Nor Amer(b10%stk) North Araer pf (3).. Jorthern Pacific 5 Ohio Oll ( 115 Omnibus Corp. 9 Otis Elevator (3 35 Outlet Co (4).. 98% Outlet Co pf (7). Owens 11 Glass (2). Pacific Gas & El (2). Pacific Lighting (3). Pacific Mills. . Pacific Tel&Teleg(7) Packard Motor Car.. Paramount Publix Park Utah Geee Parmelee Transport. Pathe Exchange. ... Peerless Motor Car.. Penick & Ford (1)... Penney (J C) (2.40). Penna Railroad. Peoples Gas. Chi Pere Marquette. ... Petrol Corp of Am. Phelps Dodge Co Phila Co 6% pf3).. Phila & Read C&I.. Plillips Petroleum. . Plerce Ofl. .. Plerce Oil pf. 2 Pierce Petroleum. Pillsbury Flour (2). Pitts Coal pf..... Pitts United pf.. Port Ric Am Tob(A) Pressed Steel Car. .. Proct & Gamb (2.40) Public Sve NJ (2.40) Public Sve NJ pf (6) Puliman Corp (3)... Pure Oil = Purity Bakeries (1) 213 Radio Corp. . Radio Corp pf A 3% . 3% Radio Corp pf B. Radio-Keith-Orph. .. RRSecllIC (3%).. Reading Rwy (1). 4 Real Silk Hoslery... Remington-Rand. 4 Republic Steel. . Reynolds Tob B (3) ., Richfield Ofl. . Rio Grande O11. . Ritter Dent Mfg. Royal Dteh (a8lc) Sateway Stores (5). 60 Safeway Strs pf (6).. 69 Safeway Strspf (7). 5% St Joseph Lead. 1 StL-San Fran pf. 3 St Louis Southwn. .. 6% Seaboard Oil Del 40c Sears Roebuck (2%) Servel Inc.... - Shattuck (F G) (1). Shell Trad&Tr (ab5c) Shell Union Oil. .... Simmons Co........ Simms Petroleum... Skelly Ofl.......... Sccony-Vacuum $0e. Solv Am pf ww(53%) 4% South Port Rico Sug. 15% Southn Cal Ed (2).,. 6% Southern PacifiGe. b Bales— Add 00. High. 1 30 2 8 S o I R =TT TP TINT CY TY IS T AR o NINpeT e JO sanERe 3% 13% 3% 141+ +4+4+] L+ PV + —1t e g 6% 37 37 5 5% —% 18 19% 41 L L B 4% 212 Southern Railway... 4% Southern Railway pf 5 Splegel-May-Stern. . 8% Stand Brands (1.20). 7% Stand Gas&E) (314). 9% Stand Gas&El pf (4). 28 Stand Gas&El pf (7). 15% Stand Oll Calif (2).. 81'3 Stand Oil Exp pf (5) x 7 Stand Oll of Kansa. 19% Stand Ol N J (12), 17y Stewart Warner. .... 51, Stone&Webster(50c) 2!5 Studebaker Corp. . un Ol (1).... ‘minzton (A). 62 Texas Co (1), Tex Gul Sulph Tex Pacific Land Tr. Thatcher Mg pf 3.60 Thermotd Co Tide Water Asso Ofl. Tide Wat Ofl pf (5)., Timken Roll B 114 ‘Transamerica Corp. . 1'4 Tri-Contl Corp. .. 42 Tri-Contl Corp pf(6) 19% Trico Products(23%). '3 Ulen & Co. . 87 Underwood-El-F (1) 52 Unfon Bag & Paper. . Un Carbide & C 1.20. Un Oil of Calif(1.40) Un Pacific (6). . Un Tank Car (1.40). . Unit Afreraft. ... Unit Aircraft pf (3). 4 Unit Biscuit (2). Un't Carbon Unit Cigar Stores Unit Cerp (40c) .. Unit Corp pt i3)..... Unit Fruit (2)..... Unit Gas&Im(1.20)., &7 Unit Gas&Im pf(5).. 2 Unit Pice Dye W(1). 1 Unit Pieca DWpf 613 40s Distributing 4 ributing pf. . 10% 200 G 1 1 8 21, USFreight. 2 100 g 104 vpsum pf 13' US Indus Alcohol. 104 Sl ;UTO REPLACEMENiT DEMAND IS AWAITED Sales Executives Point to Steady Depreciation of Cars Now in Use. DAVID J. WILK or the As DETROIT. June 9.—Although “stored- up buying power” so far has proved more of a mirage than an ty to the automobile industry, s xecutives have not yet discarded all their hopes of its potentialities “Stored-up buying power” first was heard of at the end of 1930, when production and distrib tions failed of realization the public withholds its buying orders the greater will be the ultimate volume of business when the jam is broken,” was a commonplace remark among dealers and sales direcor: The hope continued through 1931 and still the expected release of orders tailed to erialize. Then came the philosophy that a new order mus prevail in the motor car industry; the theory that 4.000.000 cars constituted a normal year's busi both in pro- duction and in retail distribution— went into the disc In its place came the general thought in the in- dustry that the future business of the motor car manufacturers must depend almost solely upon replacement, with comparatively little first-owner pat- ronage. The industry’s leaders did not intend | to imply their market had become satu- rated; they insisted it could not be- come overfed so long as cars must wear out. It mght be necessary, they said, to readjust their conceptions of a normal ye usiness, but. the pointed out.regardiess cf how much the motorist tried to get out of his auto- mobile, ultimately the car must give up and be replaced. W. D. Edenbu head of the De- troit Auto Dealers' Association. is one of the executives who believe the trade sooner or later must feel the effects of delayed buying. “So far.” he said today, “there has been practically no replacement buying this year. By re- placement buying I mean replacement of cars definitely ready for the scrap heap. The replacement of worn-out cars must come regardless of what is said about the extension of the average life of the average car.” BY s at a Glance NEW YORK, June 9 (#)—Stocks heavy; rallies encounter fr tion. Bonds irregular: United Governments firm. Curb irregular; utilities sag_in late trading. Foreign exchanges irregular: gold currencies sag. Cotton lower; weak stock market. hy commission house selling. Sugar higher: steady spot market. Cotfee quiet; trade selling. CHICAGO. June 9 () —Wheat barely steady: uncertainty Government reports today. Corn steady; rumors export business, good cash demand. Cattle slow and mostly steady. Hogs steady to higher. MONEY MARKET. NEW YORK, June 9 (#).—The money market eased notably today, with out- side call money offered at 1 per cent for the first time in weeks. It has re- cently been around 1!, per cent, while the official rate at the loan desk re- mains at 2! per cent. The easiness of the money market and further strength in United States Government securities, suggested re- newed open market activity by the Fed- eral Reserve. Federal funds were commercial paper remained at 23, to 3 per cent, and bankers’ accepfances were unchanged. R Bank of England Statement. LONDON, June 9 (#).—The weekly statement of the Bank of England shows the following changes in pounds: Total reserve increased 1,295.000, circu. lation increased 1,824,000, bullion in- creased 3.120,000, other securities in- creased 631,000, public deposits in- creased 7,024,000, other ~deposits de- creased 4,788,000, notes recerve increas. ed 1,279,000 and government securities increased 345,000. The proportion of the bank’s reserve to liability is 34.66 per cent, compared with 34.29 last week. Rate of discount, 212 per cent. TRANSACTIONS ON THE NEW YORK STOCK ~Prev.1932—~ Net. . Low. Close. Chge. 4 4% 1% 81 118 284 16% 81 T4 L T - % %o+ 4n — nl i 130 + %l 20 + W 5% -3y ~Zrev. 1032~ High. EXCHANGE Stock aad Liw. Dividéad Rate. 1% U S Leather.... . % U S Plpe & Fdry (2). 12 U S Pipe&Fy 1st 1.20 1% U S Rubber. . . 3% U S Rubber 1st pf... 10 U SSmtg & Ref (1).. 32% U S Smtg&Ref pf 3% 26% U S Steel. ... . 65% U 8 Steel pf (7). 27 Unit Stores pf(33) 12 Univ Leaf Tob (3) 23 Univ Fic 1st pf (8).. 1% Util Pwr & Lt (A)... T, % Vadsco Sales Corp 18% 5% Vanadium Corp..... 887 61 Va Elec&Pw pf (6).. T s Wavash R K. 6 1 Wanash pf (A) 19 7% Waldorf Sys (1%).., ' Warn Bros Pictures. 4 Warner Bros Pic pf. 1% Warren Bro: 9% Wesson Ol 46 Wesson O&Sn pf(4) 25 West PaElec A (7). 20 West Pa Elpf (6)... 85 West Pa Pwr pf (7 5 Western Dairy (A 114 Western Maryland. . 1 Western Pacific. ..., % Western Pacifie pf. . 1513 Western Unfon (4).. 914 Westing’se Air B(1). 1815 Westinghouse (1). .. 5215 Westinghse 1st (314) 67« White Motor. 274 White Rock (4). 2% Wilcox Oil & Gas. & Willys-Overland % Wilson & Co. .. Woolworth (2.40) . 23% 5 Worthington Pump 10% 7 Yale & Towne (1). 5 1% Yellow Truck. .. . 9% 3 Yohg Spring&W(1) 744 _Youncstown Sh&Tu. Y 4% Zonite Products(evc) 1 5 Sales— Add 00. High. 1%, 8% 11% 2 315 15% 154 5% 11 19% 39 52% 113 3w 11% 3315 26% 671% 10% 22 FINANCIAL. Net. Low. Close. Chge. 1% 8% 11% quoted at !5 to 15 of 1 per cent. Prime | 10:20 A M. rate. b Payable in s in_ stock stock. K Plus 3% 1o n Plus 5% in stock, Sales of Stocks on New York iixeh:nn h Plus 2% 200,000 500000 above tab erly or hal ock. a Paid e Payable tn casn or sio s in stock. JPlus $1 in special prefer: stock m Paid last year—no Iegu.ar ri €0),000 £00.000 b Plus 2%3% in stock. CORPORATION | SOVIET WILL RESUME | REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. | NEW YORK. June 9.—The following {is a summary of important corporation news prepared Standard Statistics Co., Inc, New Yerk, for the Associated Press The Companies. Alton Railroad May deficit after charges $180.773 vs. deficit after charges $208.197; five months' deficit after charges $689.078 vs. deficit after charges $1.692,416. Pacific Finance Corporation declared 5 cents quarterly dividend; previously paid 22 cents quarterly. Pratt & Lambert, Inc.. declared 25 cents quarterly common dividend; paid 50 cents April 1 Rike-Kumler Co. omitted quarterly common dividend; paid 371, cents April 1, 19 International Hydro-Electric System deferred action on quarterly dividend on class “A” stock: paid 50 cents in cash ;,r 2 per cent in class “A" stock April Cream of Wheat Corporation and July quarterl™ dividends co earnings in first five months Industrial finance deficit. year ended January 31, 1932, $267.204 vs. deficit 594 * MgInts come, by tion r 373.748 s 34,37 Green Mountain Power 1931 common are earnings, $7.49 vs. $13.31 Genera merfcan Investors. Inc passed quarterly dividend on preferred stock: paid $150 April 1, 1932 nited States industrial alcolol—June quarter showing expected to wipe out deficit incurred in first three months through carryover of low-priced con- tracts Warner April cred by @ Porc re ine Mines net in- depreciation and_depl rch 31, 1932, §2 Bros. pictures ded February 27, deficit, 1932, 26 Electric Power Associates declared 15 cents dividends on both class A and common stocks: paid 25 cents on each class May 2, 1932. American Stores sales, 4 weeks end- ed May 28. off 8.9 per cent; 5 months, off 149 per Cent. Washington Produce Butter—One-pound prints, . 20; standards, 17. 20 92 score. 19: standards, 1 93 score, Tub, 93 s— Hennery, ceipts, 11. Poultry, alive—Turkeys, young hens, 15: young toms, 12; old toms, 10; crovked breasts, 10; Spring broilers, colored, 1'> to 2 pounds, 20; Plymouth Rocks, 2 to 215 pounds, 22; Plymouth | | Rocks, 3 pounds and over, 23; Leghorn | broilers, 1'> to 2 pounds, 16; Leghorn broilers, 2 pounds and over, 18; hens, | medium and large, 15; roosters, 8. | Poultry, dressed — Turkeys, young hens, 18a20; young toms, 18; old toms, 12: creoked breasts, 12; Spring broilers, | colored, 1'» to 2 pounds, 23; Plymouth Rocks, 2 to 2!g peunds, 25; Plymouth Rocks, 3 pounds and over, 26; Leghorn | broilers, 1 to 1! pounds, 19; Leghorn | broilers, 2 pounds and over, 21; hens, medium and large, 18; roosters, 11; Lone Island ducks, 16. Meats—Beef, 12al13; veal, 10 all; lamb, 15a16; pork loins, 11al2; fresh hams, 12; smoked hams, 14al5; strip bacon, 15216; lard, 6; compound. 5. Live stock—Hogs, light and medium, 3.25a3.65; heavy, 2.50a3.25; pigs, 3.25a | 3.65; roughs, 1.50a2.50; calves, 3.00a | 5.50; lambs, 4.00a7.00. ! Fruits—Watermelons, 65a1.25; canta- | loupss, 2.50a3.50; apples, bushel baskets, 00; fancy box stock, 1.5032.00; straw- rries, 2.0024.00; blackberries, 3.00a | 3.50; huckleberries, 8.00a9.00; pineapples, | : oranges, California, 3.75; | Florida, 4.00a4.50; grapefruit, 4.00a4.25; | honeydews, 3.7524.00; lemons, 5.50a6.50; | bananas, 1.80a2.00; alligator pears, 3.50; ‘rhuh:&rb. per dozen bunches, 40a50; cherries, 2.00a2.25. Vegeiables—Potatoes, new, per bar- | rel, 2.00a3.00; old, 100-pound sacks, | | 1.15a120; sweets, 80; tomatoes, lugs.| | 2.50a2.75; flats, 1.10a1.25; string beans, 11.00a1.25; limas, 4.00; squash, 1.50a200: ggplant, 2.50a3.00; carrots, per 100 | bunches, 4.00a5.00; beets, per 100| | bunches, 4.0025.00;" spinach, 75; kale, | | 50a60; 'cabbage, 75a1.00; asparagus, | | 1.00a125; corn, 3.75; mushrooms, 75 | 1.00; caulifiower, 3.25a3.50; okra, 4.00; cucumbers, bushel baskets, 2.00. 12a13; current re- As a Measure of Relief tember 16th, both days noon on Saturdays, an other week days, with t and the last day of the month, when it will remain open until 5 o'c UNION TRUST COMPANY will close during the period June 16th to Sep- f to Our Employes, the inclusive, at 12 o’clock d at 3 o'clock P.M. on he exception of the 15th lock P.M. DISCUSSIONS ON OIL Threatened Ban on Exports Forces Russians to Reconsider Curtail- ment of Production. BY BRADLEY W. TRENT. 2l Dispatch to The Star. NEW YORK, June 9.—Facing a ban on its exports from its rivals, the Soviet oil industry has sgreed to resume the world oil parley negotiations, broken off here about a week ago, on June 29 in Paris. This b>came definitely known in the oil trade here today following the sailing of Philip Rabinovich and the Russian de'egation and the an- nouncement of the American spokes- man, Charles E. Arnott, precident of the Socony-Vacuum Corporation, that early next week he would sail for Paris. Paris cables indicated that Rumanian interests, not represented at the con- ference here, would meet with the Rus- sian, English, Dutch and Indian inter- ests in an endeavor to bring world sta- bility to oil prices and production As soon as the Leviathan zrrives at Cherbourg next week the Russian dele- gation will fly to Moscow, present the results of the New York meetin - ceive advice on the course to take at the coming European gathering and then hurry back to Paris Meanwhile the various Europein oil representatives will be reporting to their headquarters on the New York discus- sions and will receive instructions for the meeting in Paris, where Mr. Ar- Harold F. Sheets of Soccny- ra and James A. Moffett, vice nt of the Standard Oil Co. of Jersey,.are expected to represent American interes!s. «Copyr: nt. 1932.) Bank of France Statement. PARIS. June 9 (#.—The weekly statement of the Bank of France shows the following changes in Francs: Gold increased 700.000,000: sight balances abroad increased 940.000.000: bills dis- counted at home decreased 780,000,000 bills bought abroad decreased 542,000, 000: advances increased 99,000.000: cir- culation increased 988.000.000: current accounts decreased 841,000.000. Rate of discount 2!, per cent. POTATO MARKET. CHICAGO. June 9 (#).—(United States Department of Agriculture).— Potatoes—Receipts, 103 cars; on track 185 new, 91 old: total United States shipments 1,004: old stock dull, supplies moderate, trading slow: Wisconsin round whites, 90a95: Idaho russets, 902 110: new stock about steady; supplies moderate, trading slow; Southern Bliss Triumphs, 1.25a1.40. STOCKS RREGULAR ON HEAVY SELLING A.T. & T. and U. S. Steel Are Targets'in Late Barrage of Offerings. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, June 9.—Heavy selling in the last hour of United States Steel and of American Telephone & Tele- graph unsettled today's stock market and turned earlier strength into ir- market had staged & pro- nourced recovery in the first part of the session and in midafternoon was down only slightly from its best. Then toward the close large offerings of United States Steel common and pre- ferred appeared and prices for both » | touched new bear market lows, Amer- '1| ican Telephone was also in supply and 'a| yielding. Eastman Kodak and one or two other industrials sold off sharply, but the general list made effective re- selling did not look like liquidat It had more the appear- 3| ance of professional operations for the x| decline. ~ However, it did check the rally. Opening prices were lower and a nur ber of new records on the downside were ' | established, although ger cnly by fractions. Celephone & Tele- graph, United 2| ternation ' | Stores wer to new low 1 tion L trials, utili which h rebound comme and preferred ad over 5 points befc was no official was veering to the ferred dividend at least would be pai The merchandising issues rallied, in cluding R. H. Macy and Woolworth Two nore points w added by such as Air Reduction, Allied Che Coca Cola. Smaller by American Can, k and many others. In Consolidated Gas. Peo- fic Gas & Electric and New Jersey were were_represented by 3 points; Atchi- idson in the first NAS a new low for the The preferred came down a_fraction above its old were slower on the v than the other industrials and continued t the preferred which, however, is not to be Ob- much will depend on the busi- iess outlook at that time, although it believed that the steel directors would hesitate a lon; before making any recuction in disbursment on the senior issue. R Connecticut Bank Closed. N. Conn.. June 9 (P.— ank. one of the city’s istitutions. with de- posits 0,000, failed to open to- day on order of the State bank com- mission The order was issued as withdrav n a result of the Plant Schedule Increased. YORK. Jure 9 (# —Reports in tobacco trad y that the Con- t in Rich« ng five and one-halt 2 d with five davs the Winter and Spring. The is controlied by Philip Morris OREIGN - EXCHANGE. A complete model of an automobile. & raily engine and track. a nearby hous rounding fields and fences were used ring a manslaughter trial in a Tyrone, Ireland, court recently. NATIONAL METROPOLITAN 1814—BANK—1932 ¢ Mindful of the Heritage —handed down by our hardy for- bears, real Americans find in the trials of present readjustment, just cause for greater personal en- deavor and renewed faith in the soundness of our institutions. fOur facilities are available to all customers interested in legitimate business reconstruction. PROPERTY Apartment House MANAGEMENT Fifteenth Street Opposite U. S. Treasury MANAGEMENT N'T trust to luck in the management of apartment house property, but place it in our hands, where there is ex- perience and also the facilities to meet every arising condition successfully. It’s a service we render for a very nominal fee. B. F. SAUL CO. 925 15th St. N.W. MORTGAGE Nat’l 2100 LOANS