Evening Star Newspaper, June 20, 1932, Page 14

—14 wxx FINANCIAL VIREINA BANKERS CONVEE THIRSDA Annual Convention Will Take Place at 0ld Point Comfort. BY EDWARD C. STONE. Bankers in nearby Virginia financial institutions are greatly interested in the ammual ccnvention of the Virginia Bankers' Association, which takes place at Old Peint Comfort, Thursday, Fri- day and Saturday of this week. It will be the thirty-ninth session, Speakers on the three-day program include George B. Elliott, president of the Atlantic Coast Line Raiiroad Co.; W. Moncure Gravall, president of the k of Crewe, Va.. Dr. Douglas S. nan of Richmc nd George sess ia members of American Bankers' Association will meet to hear the report of the vice pre:sident of that association for Vir- | ginia. At that mescting there will be elected a member of the executive council for a three-year term, a vice president for Virginia. and a member and an alternate member of the Gen- eral Nomi: g Committee at the next convention of the American Bankers' tion, and a vice president of on rep d in the Ameri- the of th W, > As- S. Irby, president of enburg, president: S r of the bank of Glade president; Miss Lillian e First and Merchants’ Bank. Richmond, assistant cott & String- easurer. and Kenbridge, attorney. Today's Trading on Exchange. On the Washington Stock Exchange today. $1000 Washington Railway & iectric 4s sold at 80'y. Two $1.000 s in Washington Gas Light 6s, were recorded at 99. In the stock division two small sales of Poto- mac Electric Power 5'; per cent pre- ferred were registered, one at 102 and the other at The list of Tec: tende selling without the dividends was ex- ddition of the ed oration, s and Woodward and preferred. ne. Capital Traction izor »nd Mergen- © already on the list ted ex dividend. <eat of Edward B. at auction tomor- n taken recently ‘The action t of dues and to the rules of s name was board for de- ts of dues. McLean, assoclates were At the last g board, it was on the auction highest bidder, five days notice. he never to daily t Geld Situation Much Better. uziness and {industrial at low ebb, the ending drain has relieved the position of a considerable <h h2s been evident for some to a Survey by Mfiody's! e out that several iding to put an_ end, dence abroad in t-m. while the adjourn- s will end any threats cy legislation. < substance of the situation.” the Survey contin: nsofar as it applies *to this ccur is that the excessive Tears that th itcd States would have to leave the gold standard, are disap- pear inly for the present.” | Bankers Home From Convention. ington to the eles have at work with up of T. s & Com- National; s & Co..and ngton Lo r¥'s economic problem: he banking profession akers [ Cincinnati retir- pankers to base t in shifting ot enough.” he ce as much " e defaulted in us and t things itz, e Na- said a more adequate both in banks and in 1 the public Senaters to Address Parley. ¥ leeders from the busi- s studving its week, the Credit! u and the nvention of th of Credit the call to orde 1.000 of the exccutives will be :ded among the sessions’ speak- tor Carter Glass of of the Fed- 1e Glass-Steagall n cf Iowa sted S m in the pro- other noted Seventh Street Sav- eclared the regular at this time. It is to sharcholders of 75 cents a share has been declared on the common stock of the Arundel Ccrporation, payable July 1 to stock of record June 23. The new 2-cent tax on checks and the 10 tax on safe deposit boxes goes inio effect tomorrow. Many Qfuthe checks made out today will be texed, as it is e of collection rather than the on the check, that cou CHICAGO DAIRY MARKET. 20 (A).—Butter— L creamery ecials (93 scorc), 161,al7; extras (92 score), 16; extra firsts (90-91 score), 515al5% ; firsts (88-89 score), 1434al5; seconds (86-87 score), 12a13%5; stand- ards (90 s centralized, carlots), 1 16,040 cases; firm; resh graded firsts, current receipts, 11}s; storage ked firsts. 13%; extras, 1415, THE EVENING STAR, WASHINGTON, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Daylight Saving Time Is Used in All Market Editions. ~Prev.1932— High. Low. Kl 1% 22% 9% 34% ™ - % i 5y 4 4 5 34y 3 18 11 1 2 5 4 Columbia Gas (b1).. Stock and Sales— Dividend Rate. Abitibi Pwr & Paper. 1 Adams Expres: 23 Adams Fxpress pf... 308 Addressograph Mult, 8 Alr Reduction(t4%). 35 Alaska Juneau (50c). 12 Alleghany Corp..... 2 Alleg Cppf$30xw..y 1 Alleg Cp pf $40 ww 5 Allegheny Steel 508 Allied Chemical (6).. 47 Allis-Chalmers(50¢). 1 Am Bank Note. Am Can Co (15) Am Car & Found Am Chicle (13)... Am Com Alcohol new Am Encaustic Tiling Am & Forgn Pwr.... Am&Forgn Pw(T)Df. Am Ho: Am Ice (2) Am Ice pf (6). Am International.. .y Am Locomotive. Am Locomot p£(7). Am Mch & Fdy 1.40 Am News (3). Am Pwr& Lt (1).. Am Pwr & Lt pf (8) . Am P& Ltpf A (5) Am Radiator Am Safey Ra: Am Seating.. ... Am Smelt & Ref. Am Tel & Teleg (3). x 137 Am Tobacco B (16) .. Am Water Wks (2) Am Woolen vte new Anaconda Conper. Anchor Cap (1.20), Armour of 111 (A) Armour of 111 (B) Armour of 111 nf Asso Dry Goods Atchison (4).. . Atlantic Refining (1) Auburn Auto (f4)... 107 Aviation Corp (Del). 3 Baltimore & Obfo... 1950s Balto & Ohfo pf. . Bamberger pf (634) Barnsdall Corp. Bendix Aviation Best & Co Bethlehem Bethlehem Stl pf Bohn Alumn & Brass Borden Co (3). Borg Warner Briggs Mfg ( Bklyn-Man Tran (4). Bklyn-Man Tr pf (§) 41 Bruns Term & Rwys. 250s Bucyrus-Erfe. 1 Burroughs Add( Bush Terminal p ] Y Oy e P K I P TR I L [y Y - Callahan Zinc & Ld. . Calumet & Hecla.... Canada Dry (1.20) Canadian Pacific 1% . Cannon Mills Co (1) Case (J I) Co . Case (J1) pf (T) Caterpillar Trac 5! Celanese Corp. . Cerro de Pasco Cop. Ches & Ohio (2%)... Chesapeake Corp (2) Chi Great Western. .1 Chi Great West pt Chi M1l StP & Pac... Ch! M{l StP & Pac pf. Chi & Northwestern.. Chi Rock 1 & Pacific. Chi R1& Pac 7% pfa Childs Company Chile Copper-. .. Chrysler Corp (1)... City Ice&Fuel (3.60), Coca Cola (18)...... Coca-Cola (A) (3) Colgate-Pal-P (2 Collins & Alkman. 9 = - - PR NND DG R NN s Columbian Carb (3) . Comm Credit (50¢) .. Coml Credit A (3)... Comel Cred pf (1%). Comel Cred 15t(63%). Comcl Cred pf B (2). Comm Iny cv pf(e6). Comm Solv (60c). ... Comwlith & Sou(30¢), Comwlth&Sou pt (6) Congolm Nairn (1).. Consol Film. Consol Gas » 2 5 Y., 2 Consol Gas NY pf(5) 11 Consol Laundries(1) Consol Ofl Corp..... Consol Textile Container Corp Contl Baking (B).. Contl Can (234). . Cont Insu Contl Motors Contl Oil (Del) Contl Shares. Corn Products (3) Coty Inc. Crown C'k & S (1.20) Crown Zellerhach Crucible Steel. Crucible Steel pf. Cuba Co... Cuban-Am Sugar. Cudahy Pack ( Curtiss Wright. Curtis Wright (A).. 6 37 Sy 63 12 11 23 i 4 87 Dave ores (6ic), Deere & Co pf (40 Delaware & Hud (4). Delaware Lack & W. Detroit Edison (8).. x Diamond Match (1). Dominion Storest1% Drug Corp (4)...... Donhill Internatl. .. Dupont de Nem (3).. Duques Lt 1st pf (5). 10s - 119'3 105 323 1% 551y 64 19 13'3 104 27% 53 21y 5ty 191, 114 95 131% 574 24% 5iy 161y 815 101y 12 12!, 3 6 37 10 1% 10 0 10 4% 2 3% 4 704 110 424 8% 1% 5 11 4% 154 103, 14z, 2% 65 3 Y% 13 2% 3 % 34 33 2% 10% Eastman Kodak (5). 40 Fastman Kod pf (6). 100s Auto-L (1.20).. Elec Pwr & Lt (1)... Elec Pwr & Lt pf(6). lec Pwr & Lt pf(7). Equit Office Bldg 1% Erie RR1Stpr... .. Fed Water Service A Fidelitr-Phoen 1.20. , First Natl Strs (2%) Fourth Nat Inv 1.20., Fox Film (A) Freeport-Texas Gen Am Investors Gen Am Tank Car(1) Gen Asphalt (1).. Gen Bronze Gen Cable p! Gen Cigar pt (1) ien Electric (40¢).. Gen Elec spec (60c) Gen Food Corp (3)... Gen Gas & Elec (A). Gen Gas & ElecA(7). Gen Mills (3). Gen Motors (1). Gen Motors pf (5) Gen Refractorfes. ... Gillette Saf Raz (1). Gimbel Bros. . . Glidden Co. Gobel (Adolf). Gold Dust (1.60) Goodrich (BF). Goodyear Tire&Rub. Goodyear 1st pf (7).. Gotham Silk Hoslery Graham-Paige. . Grand Union Grant (WT) (1).... Great Northern pf(32) Great North Ore(2). Great Western Sug. Grigsby Grunow. ... uantanamo Sugar. » From im0 08D D A (o Hahn Dept Stores. .. Hall(WF)Ptg(a30c) Hercules Pow pf (7) Homestake Min (3). x Househd Fin pf 4.20. Houston Ofl........ Houston Of] (new). Howe Sound (1) Hudson Motor Car. Hupp Motors. . 10: 1ilinois Central. .... Illinols Cent 11 (4).. Industrial Rayon (2) ingersoll Rand (3). Interboro Rap Trans int Bus Machine(né) Int Cement. . 5 Int Combustion. ... Int Harvester (1.80) x 16 Int Hydro-Elec (A). 2 Irt Nickel of C: . 61 Int Paper & Pwr (A) 2 Int Rys of CenAm pt 30s Int Shoe (3). G/ e Int Tele & Teleg.... 17 Island Creek Coal(2) 2 S ARl u—E A NORBNONO 1 1% 234 10 394 8 % % 14 5ig 51 6% 63 37 44 21 Add 00. High. Low. Close. 1 1'% 2314 10 3913 9t 3 % 1% 519 514 64 61y 3w 44 21 13 Net. AR AN + ~Prev. 1932~ Stock and High. Lew. Dividend Ri 25% 10 Johni J 113 901 KC P&L 1st pf B (6). 9% 3 KaufmnnDS (80c) 2% 14 Kelly-Spring Tire 10% 2% Kelvinator Corp 13 5 Kennecott Copper. 13% 5 Kinney (G R) Co pt 19 81 Kresge (SS) Co (1) 187 10 Kroger Grocery (1) 56% 25 LambertCo (15). 7 47 Leh PortCmt vt (7), 18 5 Lehigh Valley RR. . 61% 34ix Ligg & Myers B (15). 14 6% Link Belt (1.20)... 22 9 Liquid Carbonic (2) 34 13%4 Loew's Inc (t4) 163 Loose-Wiles (13 9 Lorillard (F) (1.20) 715 Loulsviile & Nash. 113 Ludlum Steel. Andrews Forb(1) Meclntyre Pore M (1) McKeesport T P (4). McKesson & Robbins McLellan St pf A(6). Mack Trucks (1). Macy (R H) (n2).... Mallison & Co.... Manhat Elev mod gtd Marine Midld(80c). . Market Street Ry... Marlin-Rockwel! Mathieson Alk (1% May Dept Stores 1 Maytas pf ww 4 Menzel Co.. Miami Copper Mid Continent Petm. Mid St Prist pf (8)., Minn Moline Pow. ... - Minne & St Louts, Missouri Pacific pf. Monsanto Chem 11 Mountgomery W Motor Product; 3 Murray Corp. . Nash Motors (2). Nat Biscuit (2.80) Nat Cash Reg (A) Nat Dairy (2.60). Nat Dist Prod (2) Nat Distill pf (2%4).. Nat Lead pf A (T)... 1 Nat Pwr & Lt (1). Nat Ry Mex 2d pf. Natl Surety . Natl Tea (60c). Nevada Con Copper. N Y Central, N Y Dock N Y Investor N Y N H & Hartford, N Y N H & Hart pt.. N Y Ont & Western Noranda Min (a50c) Nor Amer(b10% stk) North Amer pf (3).., North Am Ed pf (§) North German Lloyd Northern Pacific Ohio O Sales— Add 00. High. 7 13% 10s 96 Net. Low. Close. Chge. 12% 13 % 96 3w K] 3% 5% an 8y 11w 2874 484 519 41 7 12% 15% 20 1 2% 9% 14y 34 . FEEFES = +14% -4 - % FEESE 3 - S = RO e @ IS 1S = @ S5 08 ) e 1 e 1O % —re S (RIS O T -JOTUP PR PO VIE) - JOFSTUPE TSI . JUPSTOIRY S -SUPRE . - Py R R R S e & - e Pacific Lightin Pacific Tel&Tel Packard Motor Car. . Tanhandle Pro&Ref. Paramount Publix. Park & Tilford Penney (JC) (2.40). x Penney (JC) pf A (6) x Penn Dixie Cement. Penna Railroad. Peoples Gas. Chl (3 Petrol Corp of Am Phelps Dodge Co. Phila & Read C&I.. 1illips Petroleum. Phoenix Hosie Plerce Ofl...... Pierce Petroleum. .., Pillsbury Flour (2) Pitts United Corp Pressed Steel Car... Proct & Gamb (2.40) . 20 9t et Sve Iman Corp (3). 27y Pure Oil. 50 Pure Oil pt (3) 4% Purity Bakeries (1)., @0 S R e LR + Radio Corp : -t Radio Corp pt B © -3 Rio Grande Ofl. : Rossia Insof A Dtch ( t L-San Fran pf. chuite Retal! Stores aBemtd vea ears, Roet ervel Inc hattuck (FH) hell Union Oil. onther tand rand Gas & Flec (2) nd Gas& nd Gas& . tard Ol Calif (2)..: Stand Oil Exp pf (5). Stand Oil of Kansas. nd OIINJ (12) rling Secur (A).. terling Secur pf. terling Secur cv pf. Stewart \Warner..... Stone& Webster (50¢) 4 Studebaker Corp.... sup Ol (1) . un Uil pf (6 Tennessee Corp. i Texas Co (1)....... « Tex Gul Sulphur (2). 3 Tex Pacific Land Tr.. The Fair pf (7)..... Thompson-Staret pf. Tide Water Asso Oil. Tide Wat Oil pt (5).. Timken-Detroit Axle Timken Roll B1%.. ‘Iransamerica Corp. 115 Tri-Contl Corp. . 42 Tri-Contl Corp pf(6) T2 Ulen & Co. z 1512 Un Carbide & C(1.20) 81a Un Oil of Calif(1.40) 56% ank Car (1.40).. Unit Aircraft 301 Unit Alrcraft pf (3). 315 Unit Corp (40¢). . 20 Unit Corp pf (3)..... 215 Unit Electric Coal 10%¢ Unit Fruit (2).. . 9% Unit Gas&Im(1.20), 26 & Forn Sec pf... 1015 U'S Gypsum (1.60).. 13'% U S Indus Alcohol 1% U S Rubber 10 USSmtg& 24 USSteel.... 6215 US Steel pf (7)..... 130 115 S Tobacco pf (7). 50 23 Univ Pic 1st pf (8).. 1 13 Univ Pipe & Rad.... 1 10% 113 Util Pwr & Lt (A) 18% &' Vanadium Corp..... 1 '2 Va-Car Chemical. 64 3l Va-Car Chem 6% pf. 3913 20 VaCarChem 7% pf. 29% 8 Vulcan Detinnin; 3 s Walworth Co, . 4% 13 Warn Bros Pictures. 15% 9% Wesson Oil & Sn (1). 110 80 West Pa Pwrpf (7). 4% s Western Dairy (B).. 50 1314 Western Union Tel.. T4 9% Westing'se Alr B(1). 357 1815 Westinghse Elec (1) 5% 2% Wilcox Oil & Gas.... 3 % Willys-Ovefland 45% 22 Woolworth (2.40)... 23% 5 Worthington Pump. 41 14'; Worth Pump (A). 57 251 Wrigley (Wm) (4).. 5 1% Yellow Truck....... 24 12 Yellow Truck pf 1 32 Zenith Radio........ 9% 4% Zonite Products(60c) 7 0w " mwormRarafaRa2 113 + + %W Dividend rates as given in the above tables are the annual cash pavments based on the latest quarterly or half-yearly decla~ rations. *Unit of trading less than 100 shares. tPartly extra. $Plus '&lfl, in stock aPaid this year—no regular n'r:’ bh‘nb}e in % stock. ePayable in cash or stock, {Plus 8% in stock, b Plus 3% n .3 Plus al preferred stock. lus tock. I Paid iast YeAT—ho TegulaT Tate. B Flus 5% i sSOCL " p PAYABE FEFEER FF s | o 3| the Danubian countries D. C MONDAY, JUNE 20, 1932 ISTOCKS IRREGULAR AS MARKET CLOSES List Loses Most of Gains Scored in Early Trading. Volume Small. BY GEORGE T. HUGHES. Special Dizpatch to The Star. NEW YORK, June 20.—After advanc- {ing from 1 to 3 points in the morning, | stocks erased virtually all of these gains lin the final hour today, the market j generally closing irregularly lower. The session was the dullest in several | years, transactions approximately 400, 000 shares. ‘The market did not broaden in early trading and was nearly as dull as in Saturday’s session, but the action of a number of issues indicated that there was little stock pressing for sale and that it was comparatively easy to {bid up prices of leading issues. | Auburn_Auto rose 3 points, McKees- | port Tin Plate 3!, points, Union Pacific 2 points, Atchison over a point, while there were gains of a point or more in | Eastman_Kodak, Alr Reduction, J. I Case, Allied Chemical and New York Central. Anticipating & more favorable report In regard to the August maturity that had been circulated some time &go and continuation at this afternoon’s meeting of its dividend, Brooklyn-Manhattan | Transit preferred rose about 3 points, with the common stock a_point higher. American Telephone & Telegraph sold ex-dividend the quarterly rate of 2 per cent and showed a small net gain Consolidated Gas, Public Service of New Jersey and United Gas Improvement {were up about a_point to 1 points The more favorable report on electrie power production of last week was a continuing influence on this group to- y. trade reviews indicated no im- prg\!'qc:nent in the iron and steel indus- tries, with the rate of production still at 17 per cent of capacity and prices of raw materials still declining. Car loading figures this week are expected to be somewhat better, especially on roads handling the Winter wheat move- ment. The Atchison reported loading. last week about 14 per cent in efce of those of the week preceding. but 11 per cent below the corresponding week - interpre- | | Riy : | the move of freight | truck wor ve to be er to make this competition a s ous factor in the transportation of heavy bulk freight Continued strength in German bonds reflected the satisfaction in what has already been accomplished at La i Nearly all of the foreign exchanges | were “heavy, with sterling off over 2 points and French and Belgian ex- | change lower in sympathy. 'WHEAT IS UNSETTLED BY LIVERPOOL DROP Current Low Prices in British Market Prove Bearish Fac- tor at Chicago. the extent traffic While the movement of new Winter wheat is goi to be an important mar- ket factor for the next 30 days, it is the independent weakness at Liverpool which keeps domestic prices declining Except for a few weeks in the Fall of 1931 current English prices are be- lieved to be the lowest in more than 300 vears There is & pause in the derand for wheat J orb_the larg> su irchased. Con- al seem fairly well and England is able s of call more ¢ about the and are contracting for | Bugers are new harvest current needs he La proach of the im at Ottawa restrict uncertaintv over de Little help is anticipa cago price level a5 long as Europe re- mains so dilatory sent fine pros- pects for the Spr wheat crop of Canada and the United States will be against a rise unless more attention be given this country’s small crop of new export wheat iction in the North A unlikeli- | hood_of bumpx Russia and and the ex- pectation of a good demand frcm the Orient. The domestic market exhibits no buy- ing power and v ttle confidence price. — . ke PARIS BOURSE PRICES. PARIS. June 20 (» —Three per cent rentes, 73 francs 25 centimes. Five per cent loan, 97 francs 5 centimes Exchange _on London. 92 francs centimes. The dollar was quoted at 25 francs 48 centim SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co) ce and ap- omic parley because of <erve: crops in A 4125 1933 Chi. Northwestern R. R 5¢ 1033 Chicago Rock Island 4s 1934 Cleve. Lor. & Wheeling §s 1933 ‘orado & So. Rvy. 4l.s 1935 ial Credit Co_ 5 Accep | Petroleum Corp eneral Public Ser rand Trunk of Car on E_& 5 55 Telep. Co_5s 1 o Gas Lizht Co. 3s 193¢ Louisville & Nashviile 55 1037, New York Cen. & H. 45 1934 New York. Chi_ & St L. 65 1932 Northwestern Telep. 4125 1934. Penna. R_R Co. §'is 1936 Portland General Elec. 55 1935 Republic Tron & Steel 55 1 Sinclair Crude Oil Co. 515 1938 Southern Pacific 5s 1934 SOLITMS Ry R & G. 4571833 Union Elec. Lt & Pow Union Oil Co. of Calif. 5 Virginia Rwy. & Powe Wabash Rwy. Co. 35 10! [ Organized 1879 JOHN JOY EDSON, President Assets. ... I T TR $2.50 Per Share g a success, Equitable Co-Operative Bldg. Ass’n Subscriptions for the 103rd Issue of Stock Being Received Join the Equitable’s Plan of Systematic Savings Many who today enjoy prosperity adopted the systematic saving plan of the Equitable. If you would be CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, June 20.—The following is a summary of important corporation news prepared by he Standard Statis- tics Co., Inc, New York, for the Asso- ciated Press: Weekly News Review. Although definitely constructive influ- ences in current economic trends are still generally lacking, the long-term outlook has been notably strengthened by an apparent slackening in the ex- | port movement of gold. The consequent stabilization of the dollar in terms of the metal and its importance to utli- | mate business recovery was exhibited to | a large extent last week in the marked | firmness and occasional strong tone of security markets. As measured by the Standard Statistics index of 90 stocks, | the week’s activity constituted an ad- vance of 2.4 points from Monday's clos- ing level of 383 to 40.7 on Friday, the 16th, followed by a week end recession to 385. A firm tendency was also evi- dent in the domestic bond lists and, with the exception of industrials. which | | held to a fairly even level during the week, many issues scored noticeable gains. Other indices of curgent trends were marked by a continuation of curtailed activity in nearly all industries. Stecl operations, as represented by estimated | Ingot output, declinec to 18 per cent of capacity from 20 per cent Teported in the previous week. Loadings of revenue freight in the 7-day period ended June 4 were off 73,575 cars, according to the American Railway Association, and were 313,697 cars below the correspond- | ing period of 1931. In order to include Memorial day, which did not fall in the corresponding week a year ago, the two weeks ended June 4 provide a better basis for comparison. and in that period the number of freight cars loaded de- clined 34.2 per cent from the similar time last year. - The advance in daily crude oil pro duction amounted to only 2,200 barrels in the week ended June 11, as con- trasted with a gain of 11,850 barrels in the preceding period. Supplies of motor tuel on hand at refineries weré reduced by 381,000 barrels to 66,689,000. Prin- cipal part of the advance in automobile output during the week ended June 11 was attributable to further expansion in Ford production. Actual output of cars ana trucks tor the period has been re- ported at 52560 units, against 50443 in the preceding week and 66468 units a year ago. The Companies. Corporation common share five months ended May 31 Railway declaretl 25 dend: paid 50 cen of two preceding quar ntal Motors Corporation deficit quarter, $1,026,660, vs. king Co —Deferred pay- v dividend on pre- last payment was $1.75 193 <. Chicago & St. Lous Rail- deficit in May was $580.290 come of $156.067 a vea . net deficit was e cf $1.001.349 —Deficit, March vs. deficit ment ferred on Mar of stock road net vs. net previaus ~ago Railway—Surface lines' di- s receipts for May showed » deficit of $11.933 vs. profit of $34.696 tn Railway grose ng income off 622 per ¢ Utilities A ings, 2 1932, 85 cents v Leaf Tooacco quarterly common dividend cents: last payment was 75 cents May 1. 1932; company stated action was prompted more by conservatism than necessity. Central & Southwest Utilities Co— itted dividend on common stock 1 was 1% per cent in in April 15. 1932 ler Corporaticn—Retail sales of March 31 Universal De Sota and Plymouth cars by De Sota | dealers in week ended June 11 totaled 1,544 units. against 849 in 1931 week unfilled orders in dealers hands were 892, against 390 a year previous. Nash Motors Co.—Operations far in rent fiscal year have been on a profitable basis Nationa! Power & Light Co— Ope ating revenues 8] in 12 mont to April 50 declined 4.3 per cent; net revenues from operation up 1.2 per cent Studebaker Corp—Rockne shij ments in June expected to exceed May shipments of ebout 3.000 units. Texas Corp—Advanced _ gasoline prices “,-cents a gallon in New York nd Philadelphia and 1 cent a gallon at_its other deepsater terminals Gulf Oil Corp.—Subsidiary increased United States motor gasoline price - cents a gallon People’s Drug Stores May sales off 99 per cent; five months off 4 per cent. NEW YORK BANK STOCKS NEW YORK. June 20 (#.—Over-the- counter market Banks. Bid Asked 22 : ity (2) Trust Companies, Corn Exc Empire Guaranty Irving ¢160) Manufacture ENTERPRISE SERIAL BUILDING ASSOCIATION 7th and Indiana Ave. N.W. Shares of Stock $1.00 Each, Payable Monthly. 5% paid on stock withdrawn 68th Series of stock now open for subscription James K. Connelly. X President e tary iy 52nd YEAR COMPLETED g WALTER S. PRATT, Jr., Secretary $6,237,762.31 LT first learn to save. Come in and let’s talk it over. 915 F St. Ty thus | INANCIAL IWashington I’roducel M l Butter—One-pound prints, 93 score, 20; 92 score, 19; standards, 18. Tub, 93 score, 197 92 score, 18; standards, 17. Eggs—Hennery, 13al4; current re- ceipts, 12a13. Poultry, alive—Turkeys, hens, 13; toms, 10; Spring broilers, mixed colors, 15a17; Plymouth Rock broilers, 1% to 2 pounds, 18a20; 2> pounds and over, 22; Leghorn broilers, 1': pounds and over, 14al5; hens, large and medium, 13a15; Leghorn hens, 11a13; roosters, 9. Poultry, dressed—Turkeys, hens, 16; toms. 13; Spring broilers, mixed colors, 18a21; Plymouth Rock broilers, 11y to 2 pounds, 21a23; 2'; pounds and over, over. 17al18; hens, large and medium, 16a18; Leghorn hens, 14a16; roosters, 12; Long Island ducks, 16 Meats—Beef, 12a13; deal, 10a12; Winter lamb, 13; Spring lamb, 16; pork loins, 12a13; fresh hams, 13; hams, 14; strip bacon, 14; lard, 7; com- pound, 6 Fruits -Watermelons, 50a80: canta- loupes, jumbos, 3.25a3.50; standards, 2.75a3.00; ponys, 1.75a2.00; apples, bushel baskets, 150a1.75; box stock, 1.50a2.25; plums, 125a150; figs, 1.25a 1.50; apricots, 2.00; bananas, 1.50a2.25; oranges, Florida, 4.00a5.00; California, 2.50a4.00; alligator pears, 1.50al lemons, 5.00a6.00; honeydews, 3.00a3.75; grapefruit, 4.75a5.00; honey balls, 6.50; rhubarb, per 100 bunches, 3.00a5.00; cherries, California, 15-pound lugs, 2.00° ! peaches, 3.50. Vegetables—Potatoes, new, per barrel, 3.00s3.25; old, 100-pound sacks, 1.25 |sweets, 75, string beans, 1.00al25 limas, 3.00a350. kale, 50260; spinach, 1.00a1.25; lettuce, Iceberg, 3.50550; homegrown, bushel baskets, 5081.00; pea; 250 : cabbage. bushel baskets, 4 ash, white, 75a1.00; yellow, tomatoes, lugs, 1.75a2.00; corn, 2.00: asparagus. :.00al.25; carrots, | per 100 bunches, 4.00a5.00; turnips, per i]nn bunches, 400; cucumbers, bushel | baskets, 100a125;" caulifiower, home- | grown, 1.50; corn,’ 2.00; okra, 1.50a2.00. WALL STREET HOPES FOR MARKET 3EVIVAL Traders Believe Founc tion Is { Now Being Laid for K gher Security Prices. BY CHARLES W. STORM, € of Wall Street. atch to The Star. | NEW YORK, June 20.—The founda- | tion is being laid, Wall Street believes, a revival in confidence sufficient to lrad to a substantial rally in the gen- cral securities markets. T{;l‘ is indicated by the fact that in the last weck some important people have entered the market as buvers of stocks in the face of unfavorable news. The present encouragement in the financial district is based on the crea- tion of the pool which has been sup- of the gold export movement from the United States to Europe; defeat of the | bonus bill by the Senate and dissipa- [ tion of the possibility of the United States Government going off the gold regarded, aticn accoun's for the fact hat every time there is a better un- certone the higher level of quotations lized to complete selling hanging er the arket . Despite the belief that necessitous liquidation ras not been concluded. ac- cumulation of stocks is known to be underway. (Copsright. 1922 EARNINGS REPORTED. NEW YORK. June 20 VP, —Gatineau Power Co. and subsidiaries report March quarter net income of $617.369, compared with $310.594 in the same | period of 1931 Kansas City Southern Ra May net income of $94.606 aft, against $313.345 a yvear ago. v had T taxes, 0. S. TREASURY CERTIFICATES OLDEST NATIONAL BANK in the District of Columbia National etropolitan 25; Leghorn broilers, 1}, pounds and | smoked | porting the bond market; completion | neces- REDUCTION IN RAIL CHARGES IS URGED Movement for Cuts in Pas« senger and Freight Rates % s Started. BY GEORGE E. DOYING. A movement for a general reduction |in rallroad freight and passenger rates | may be initiated by the National Asso- clation of Rallroad and Utilities Com- ‘m]mlnntr.! at its annual eonvention next November, it was learned here today. A proposal for such action has come { to the Executive Committee of the na- tional organization from Nevada and it will be considered at a meeting of | the Exccutive Committee to be held in .cl-#w on June 25 e suggestion was made by P. Shaughnessy. chairman of Joz‘;:r-‘ Nevaca Public Service Commission. He indicated that present rail rates should | be recuced “so as to make them con- form to present conditions.” Many of the members of State | regulatory commissions, all of whom are members of the national associa- tion. are known to favor the idea of forcing reductions in public utility rates generally on the ground that costs of material, labor, efc.. have been on the downward trend for some time and prices of most other commodities have dropped. It would not be surpricing, therefore, to see 1 cse commissioners join in a similar mov.mer o nt against the On the other hand. there i< an ele- ment among the commissioners which contends that if the utilities have not been permitted to earn more than a fair return during prosperous times, instead of being free to fix rates witn- ut regulatory control, this fact must be en consideration in dealing with rates during periods of general business de- pression. During the hearings in the 15 per cent case last year strong representa- tions were made to the Interstate Com- merce Commission in opposition to the | general advance proposed by the rail cartiers. The protests were not ani- mated by the ordinary and natural antagonism to any rate increase. as the commission itself said. but very largely by a sincere conviction that harm rather than good would result from the | Increase, both to the country generally and to the carriers However. in view of the reports class 1 railronds in the Uniteq. Sator filed with the Bureau of Railway Eco- nomics, showing that during the first | four months of 1932 they had & rate of return of 127 per cent on their property investment, it is not eonsidered likey that any proposal for a general reduction in rates would meet much success. ey SILVER QUOTATIONS. , NEW YORK. June 20 (# —Silve futures dull. sales 25.000 ounces. Jul % 55231510 EFpBEe::anr, 27.85 bid: Oeto= -, T ember, 28.2 n January, 28.41 bid S and U. S. TREASURY BALANCE. BY the Associated Press Treasury receipts on June 17 were $32.057.403.95, expenditures were $32.- 048.684.42; the net balance was $672.- 019.314.71. Custom receipts for the 17 days were $10,261,103.47 FOREIGN EXCHANGE. REAL ESTATE NOTES Yielding 6% Interest Tyler and Rutherford, Inc. First trust notes well secured on de- tached modern' resigen Dar and accrved’ Iectect 1520 “K” St. N.W. NA. 0475 for sale at Help for Our Customers —in their task of business re- BANK construction is provided by the counsel of practical bank- ers every service which is associated with a strong, old bank, such as this, is ex- 1814 1932 tended. It will in no way obligate you to consult our officers about your financial problems. Travelers’ Checks for vacationists Fifteenth St., Opposite U. S, Treasury FIRST of interest Over a Third of a Century Regular paid—you Without a The pri trust on from $250 B National 2100 MORTGAGES THINK OF THE THRILL OF SATISFACTION which attends the periodical receipt from an investment in our 6Y2% FIRST MORTGAGES Iy on the due dates this interest, always the same, will be r money mrning money without effort or concern. ncipal is secured by first conservatively appraised improved Washington real estate. May be purchased in amounts up. . F. SAUL CO. 925 15th St. N\W.