Evening Star Newspaper, June 22, 1932, Page 14

TA—14 ¥ BUSINESS 1S QUIET FINANCIAL. High. Low. Dividend Rate. 1% Adams Express. 34% Alr Reduction(1414). 7% Alaska Juneau (50c). % Alleghany Corp. % Alleg Cp pf $30 ww. . % Alleg Cp pf $40 ww.. 47 Allled Chemical (6). 96% Allied Chem pf (7) 4 Allis-Chalmers(50c) . 12 Amerada Corp (2)... 8% Am Agri Chem (Del). 5 Am Bank Note 6% Am Brake Sh&F (60c) 40% Am Brake Sh pf (7). 34% Am Can Co (15) . 9314 Am Can Co pf (7). Richmond Reserve Bank Re- ports Slackening After Early June Rise. BY EDWARD C. STONE. Reports of business and agricultural conditions in the fifth Federal Reserve district vary widely. The Richmond bank states that rain has proved a great help to grow- ing crops. At the same time blue rot has damaged to- bacco Elunu 50 much that many have had to be re- set in Virginia, North and South T% Am Chainpf...... .. 2 Am & Foreign Pwr. .. 5 Amé&Forgn Pw pf(7). 4% Am Hide & Leath pf., 9 Amlce (2) 2% Am Internationa 29% Am Locomot pf (7). 3 AmPwr&Lt(1).... 16 Am Pwr & Ltpf (6 15 Am P& Lt pf A (5). Carolina. The boll ’;v: A'm“ nad!al:r.... weevil is also get- 3 ™, 3 Am Rolling Mills. ting active in_ the f H 11 Am Shipbuilding(3) cotton fields which 5% Am Smelt & Ref..... will mean smaller 22 Am Sm & Ref 7% pf. crops, although 21% Am Snuff (13%). . rices may be 3 Am Steel Foundry... gher. 20 Am Stores (12%).... General business 13 AmSugar (2)....... conditions, reflect- 79% Am Tel & Teleg (9).. ed by bank clearings and debits, show 40% Am Tobacco (16). a slackening of the early June rise and 9% 44 AmTobacco B (16) building for the first half of June was 95% Am Tobacco pf (6)... under seasonal levels. The Richmond 11 Am Water Wks (2).. Bank reports the re-opening of a large 26 Am Wat W 1st pf(6). ravon factory and one of the largest 16% Am Woolen pf.... important recent industrial develop- 10 Am Zinc & Lead pf importnat recent industrial develop- 3% Anaconda Copper. ments. 5% Anchor Cap (1.20) Latest reports from the other 8 Armour of 11 (A)... Federal Reserve districts are encourag- % Armour of 111 (B). ing. Business is displaying distinctly 31 Armourof 11 pt more confidence. In several districts 3 Asso Dry Goods. bank clearings are improving. Auto- 23% Atchison (4).. mobiles, furniture and store sales are 42% Atchison pf (5). improving in several parts of the coun- 9% Atlantic Coast Line., try. Dallas, Tex., notes a growing ten- 8% Atlantic Refining (1), dency among the banks to make loans 28% Auburn Auto (f4). for needed improvements and industrial tion Corp (Del) expansion. n Locomoti: Atlanta reports department sales im- 8% Baltimore & Ohlo. ... proving, due to price cuts, and substan- 71 Bamberger pf (6%).. tial gains in wholesale trade. Building Barnsdall Corp and construction work have also Belding-Hemingway picked up. . Bendix Aviation. . ' Bethlehem Steel. ... Bank President’s Third Year. Bethlehem Stl pf (174 John D. Howard has just started his %« Borden Co (2). third year as president of the Seventh Borg Warner. ... Street Savings Bank, to which position Boston & Maine. he was clected on June 19, 1930. In Briggs Mfg (1). the comparatively short time that he 4 Bklyn-Man Tran has been at the wheel, the bank has en- Bklyn-Man Tr pf (6). Joyed a high degree of prosperity. Bklyn Union Gas(5). Mr. Howard is a native of Washing- Burroughs Add(30c). ton. He was educated in the public 4 Bush Terminal(2%). schools here and graduated from the 9145 Bush Term deb (7).. 1 National Law School. In his younger 25% Bush Terminal pf(7). days he was in the real estate business % Butte & Superior. ... for a short time. being il:::ecbteei wltdh Byers (AM).. B. F. Saul & Co. Ban ckoned, e 2 the young man securing a position as e runner with the Home Savings Bank, Capital Admin (A) now the Central Branch of the Ameri- Case (J 1) Co. .. can Security & Trust Co. e e ‘The bank messenger next became con- Cent Aguirre (1%).. nected with the Traders’ National Bank Ches & Ohlo (214) . as bookkeeper. His ability soon brought Chesapeake Corp (2) him promotion and he was made man- Chi Mil StP & Pac. ,ager of the savings department. The Chi & Notthwestern Traders' National was absorbed by the e Rl Fock T & racine: Merchants’ & Mechanics'® Bank, which Chi R & Pac 6% pf afterward became the United States ChiRI& Pac 1 *Trust Co. The trust company opened a Chrysler Corp (1)... branch at 20th street and Pennsylvania « City Ice&Fuel pf 6% - avenue and John Howard was made Clark Equipment manager, remaining there until July 8, Coca Cola (18) 1912, when he was elected cashier cf Coca Cola (A) (3)- the Seventh street Savings Bank. He Colgate-Pal-P (2 was elected vice president in 1928 and 5 Colg-Palm-P pf (6) two years later took the presidency. ) 2% Collins & Aikman. New Bond Office Opened Here. 4% Columbia Gas (b1) Col Gas&EL pf A (6) ., A branch office has just been opened RSl the Southern Building by Ewart, 1814 Columbian Carb (3). ‘Adams & Bond, of 52 Wall street, New 3% Comel Credit (50c) York City, with Clarence Falk as local 11% Comel Cred pf ¢1% ). manager. The company specializes in public utility bond issues. The man- ager of the Washington office comes here from New York, where he has been in the financial district for the past 20 years. He expressed the opin- jon today that it is an excellent time to open new offices. He believes the long decline in bonds has brought about 7213 Consol Gas NY pf(5). bargains in sound securities that may 4 Consol Oil Corp. not be equaled or surpassed in many 79 Consol Ol pf (3) years. 7 2% Contl Baking (A). ... John P. Lynch, newly elected presi- 247 Contl Baking pf (6).., dent of the District of Columbia Life 19% Cont) Can (2%)..... Underwriters’ Association, has ap- 6% Cont Insurance(1.20) pointed Dan J. Harrison of the local 5 Contl Motors office of the Massachusetts Mutual 8% Contl Oil (Del Life Insurance Co. to membership on % Contl Shares. the board of trustees of the Better Busi- 25% Corn Products (3)... ness Bureau for the fiscal year begin- 994 Corn Prod pf (7) ning July 1. Mr. Harrison will rep- 77 Crown Ck & S (1.20) . resent the life underwriters' group on | 11t Curtis Rublishing (2) the directorate of the bureau 47 Curtis Publish pf(7). Paul Pearson, president of the Wash- | 7% Curtiss Wright. .. ington Wholesale Drug Co., was re- 1% Curtis Wright (A) elected to that office for the twenty- 64% Cushmans pf (7) third time at the annual meeting of 49' Cushmans pf (8) the company in Alexandria, Va. yes- 81 Cutler Hammer. terday. W. P. Herbst was chosen first 053 ($00) vice president and F. B. Tipton second vice president. A. V. Burdine was elected secretary and N. D. Parker, as- sistant secretary. R. N. Harper became ! treasurer. The board of directors is composed of R. A. Judd, F. T. Stone, L. F.Bardley and W. T. Kerfoot. Storage Firm Votes Dividend. At their monthly meeting the board of directors of the Security Storage Co. declared the regular quarterly divi- 3, Eaton Mfg Co (50¢). dend of $1.25 per share, payable July 81 Elec Auto-L (1.20).. x 11 to stockholders of record at the! s Electric Boat. close of business July 7. Books to be 1% Elec&Musical Instru, rclosed between those dates. 2% Elec Pwr& Lt (1). .. Washington Gas 6s, series A. sold at 124 Elec Pwr & Lt pf(7). 98'. on the Washington Stock Exchange 23 Endicott-Johnson (3), today. Potomac Electric Power 515 12% Equit Office Bldg 1%. per cent preferred figured in a turn- . over of 35 shares at 102, while 10 shares of Potomac Electric Power 6 per cent preferred moved at ma‘-},d s : e annual election an ner of 2 the auditors' section of the District L o ) Bankers' Assoclation will take place A at Olney Inn tomorrow evening. It M oo is expected that nearly 300 members s of the section and their wives will at- e tend. _Arthur J. Linn, chairman of the B e section, will preside. 10 Freeport-Texas (2).. The luncheon group of the District Bankers' Association held their weekly meeting this noon at the Willard. Mem- bers of the auditors' section of the 3% Gen Cable pf assoclation were asked to be present, 75 Gen Cigar pf prepared to answer any questions that 8% Gen Elactric (40c may have come up since the 2-cent 10% Gen Elec pec (60c). revenue tax on bank checks went into 19% Gen Food Cory, (3) effect. 14 Gen Gas & Elec (A)., 2 3% Geu GEE cv pf A(pf) Other Financial Notes. b SOl The number of failures reported to 28 Gen Mills (3) . Bradstreet'’s for the week ended June 78 Gen Mills pf (6). 16 increased very slightly, rising from 8% Gen Motors (1).. 555 to 564. The gain, however, was 6213 Gen Motors pf (5). less than is normally expected at this 1 Gen Public Service.. time, and Bradstreet's index of weekly % Gen Realty & Util. ... failures again declined to 128.9. This 6 Gen Realty & Util pf. compares with 129.8 in the preceding ey week, 1322 two weeks ago and 110.1 e = for the same week of 1931. The past % aaaC e week's total is considerably higher than o b the 482 failures reported for the same e LS (Neekiinal your. 9% Goodyear 1st pf (1) For_the five months ended May 31 e A the Chesapeake & Ohio Railway Co. T Gt Mo 4 shows gross revenues of $39,198,696, a! 14% Grant (W T) (1) decrease of $9,315,304. Operating ex- S Grset Nocthon penses were $23,510,160, a decrease of 5% Great Northern Ore. $8,389,124. Net raiiway operating in- % Grigsby Grunow. ... come was_$11,529.844, a decrease of 23 Gult Biaten Stee $832,778. Net lncon;; :lm-r all cxaxu i including sinking fund approp: on, acke! 1581150256, '» decrease Of $1 302,129 4 Hall(WF)Ptg(a30c). compared with same period in 1931. % Harn Dept Stores. For the ensuing al year begin- 1 Hartman Corp (A) ning on September 1, 1932, the board % Hartman Corp (B) of governors of the Investment Bank- 8% Houston Oil. ... ers' Association of America at a recent 1% Houston Oil (new).,, meeting reduced the annual dues from 5 Howe Sound ugc)... $250 to $150. 2% Hudson Motor Car. R 4 Tiiinois Central. . : i 10% Industrial Rayon (2) Receivership Plea Opposed. 14% Ingersoll Rand (3).. LMINGTON, Del, June 22 (P.—| 24 11 Inland Steel.... 'rhvenchlugo Mill & Lumber Co. of % Inspiration Copper. . Chicago denied in Chancery Court to- 2% Interboro Rap Trans. day that it is impossible for it to con- 4% 2 Interlake Iron.. .e tinue in business without the aid or in-1 117 65 Int Bus Machine(n6) x tervention of the court, in answer to & 5% 1% Int CarriersLtd(40c). vecefvership suit flled against it re- 18% 3% Int Cement cently by David Schrader of New York, 21% 4% Int Combustion pf 55% Comcl Inv cv pf(e6). 315 Comel Solv (60¢). ... 1% Comwlth & Sou(30¢). 27% Comwlith&Sou pf (6). 615 Congolm Nairn (1).. 2% Consol Film pf o Davega Stores (60c). Davison Chemical. .. Deere & Co pf (40c).. Delaware & Hud (9). Delaware Lack & W.. Diamond Match (1).. Diamond Mtch pf 114 Dominion Storest1ly Drug Corp (4). Dupont de Nem (3 37% Eastman Kodak (5).. 634 Federat DeptS(60c) % tien Am Investors. ., 10 Gen Am Tank Car(1). 10% Gen Baking (2). s i » 8 P PLA1% 40 22% Adams Express pf... 100s 40 28 2 1 L 121 17 pasy ] 0B nann 1813 Am Car & Fdy pf (7). 200s 704 » o ¥ 2o AR BB o o R N N DS 00 O N —o > & A= 3 waS2amnlalwan 1 608 108 1 108 10% Comcl Cred pf B (2). 1208 4 9 34 8 T 2 31y Consol Gas N Y (4).. 134 8 36 47 4 12 1 177 52 2 2 3 3 213 Fashion Park As pf.. 30s 1 1 1 1 5 3 2 1 1 16 8 3 3 1 1 4 0 1 1 s 2 1 1 3 2 3 2 1 5 1 4 1 2 3 1 1 1 3 1 THE EVENING STAR, 2 28 LU+ +4+++ 10 +1 4+ Nes. Close. Chge. +% % % % h - -4 -1% F§ EREFE E2 F FFEFFELESEFEF T FEESEFESETEF ¥ FUUIH4 144140+ +1 4 ik L++ 0+ +4 4+ 'Y 5L ! & 1+ 4+ ++14++110 & F& ¥ EFEESF "+| +.I“l F&OF ] FEEFS A Uie ) F F FEFEIFEFF FEFEFE & [REINEN) RN I ESIEER i U000 ++ ~Prev.1033~ Stock and High. Low. Dividend Rate. 29% 13 Int Harvester (1.30). 108 68% Int Harvester pf (7). 9% 3% Int Nickelof Can.... 1% % Int Paper & Pwr (B)a 11 2 Int Paper & Pwrpf 44% 32% IntShoe (3)......... 124 2% Int Tele & Teleg. 18 10% Island Creek pf (6) 35 15% Jewel Tea (1434). 26% 10 Johns-Manvill 3 Kaufman DS (80c).. 5% Kayser (J) & Co. %4 Kelly Spring Tire % Kelly-Spring ctfs 6% Kelly-Spr T 8% pf. 9 Kelly-Sp T 8% pt c 2% Kelvinator Corp. 5 Kennecott Copper. 10 Kroger Grocery (1 6% 25 Lambert Co (15). 2% 1% Lee Rubber & Tire. 18 B Lehigh Valley RR. 30% Lehman Corp (2.40). 6 Lehn & Fink (2). 34% Ligg & Myers B (15 14 Lily Tulip Cup (1%). 8% Lima Locomotive.... 614 Link Belt (1.20)..... 9 Liquid Carbonic (2).. 13% Loew's Inc (14).....: 45 Loew's Incpf (6%).. 1% Loft Inc 9 Lorillard (P) (1.20).. 734 Louisville & Nash. 1% Ludlum Steel ' 28 McKeesport T P (4).. 1% McKesson & Robbins 3% McKesson & Robs pf. 1 McLellan Stores. 10 Mack Trucks (1). 17 Macy (HR) (n2)... 2% Madison Sq Garden 415 Magma Copper (50c Mandell Brothers Manhat Elev gtd (7). Manhat Elev mod gtd Manhattan Shirt. ... Marine Midld (80c) Marlin-Rockwell(1). Marmon Motor Car. . Marshall Field & Co.. Miami Copper....... Mid Continent Petm. Midland Steel Prod 2% Missouri Pacific pf 6% Mohawk Carpet. ... 13% Monsanto Chem 1., 315 Montgomery Ward 9 Motor Products (2).« 6% > 15 Nat Dairy (2.60).. 13 Nat Dist Prod (2). Nat Lead pf A (7). t Pwr& Lt (1).. 1% Nat Ry Mex 1st pf. 8% Nat Supply Co. 1% Neisner Brothers 4% N Y Alr Brake. 8% N Y Central. . 1 N Y Investors 6 N YNH& Hartford. 144 N Y N H & Hart pf.. N Y Steam 1st pf(7). Noranda Min (a50c). Nor Amer(b10% stk) . North German Lloyd Northern Pacific. . 4% 1% Omnibus Corp. .. 144 3% Orpheum Circuit pf.. 281 9 Otis Elevator (113).. Tacific Gas & Bl (2) ., Pacific Lighting (3). Pacific Mills. ... . Pacific Tel&Teleg % Packard Motor Car Paramount Publix. Park & Tilford. Patino Mines. ..... Penney (J C) (2.40) Penna Railroad. .. ... Peoples Gas Chi (8).. Petrol Corp of Am. .. Phelps Dodge. . Phila Co 6% pf (3). Phila Co new (5)... Phillips Petroleum Plerce Petroleum Prairie Oll & Gas. ie Pipe Line Proct & Gamb (2. Public Sve NJ (3.40 Public Sve NJ pt (6). Pullman Corp (3).... Pure O1l pf (8)...... Purity Bakeries (1).. 2% Radlo Corp. 3% Radio Corp pf B. 114 Radio-Keith-Orp 4% Raybestos-Man (6| 913 Reading Rwy (1) 1% Reo Motos Car. 5% Republic Steel pf 26% Reynolds Tob B (3).. 1% Rio Grande Ol. . 12% Royal Dtch (a8lc)... Stores (5). . Strs pf (7). St Joseph Lead. . . St L-San Francisco St L-San Fran pf Scott Paper (1.40)... 6% Seaboard Oil Del 40c. 10% Sears Roebuck. .. 23y Second Nat Inv pf. 1% Servel Inc Shattuck ( Shell Trad&Tr (a35c) Shell Union Oil......, Shell Union Ol pf. Simms Petroleum. Socony-Vac (80c).... South Port Rico Sug. Southern Cal Ed(2).. Southern Paclfic. ... Southern Railway . outhern Railw: Sparks-Withington. . Spiegel-May-Stern Stand Brands (1.20) . Stand Gas & Elec (2). 9% Stand Gas&El pf (4). 24% Stand Gas&El pf (6), 28 Stand Gas&El pf (7). 15% Stand Ofl Calif (2)... 7 Stand Oil Kansas 19% Stand Oil N J (12). % Sterling Secur pt 13% Sterling Secur cv pf. 1% Stewart Warner...., 5% Stone&Webster(50c) 214 Studebaker Corp. ..., 6% Telautograph (1.40).. 9% Texas Co (1)......., 12% Tex Guif Sulph (2) 1% Tex Pacific Coal&Oil. 7 Thermotd Co........ 10 Third Natl Inv (1) 2 Tide Water Asso Oil.. 20 Tide Water As pf (6) 30 Tide Wat Oil pf (5) 9% Timken Roll B 1. 214 Transamerica Corp 134 Tri-Contl Corp. .. 42 Tri-Contl Corp pf(6). % Truax Traer Coal 6% 2 Truscon Steel 36% 15% Carbide & C(1. 8t Un Oil of Calif (1. Union Pacific (6).. Union Pacific pt (4). Unit Aircraft : Tnit Aircraft pf (3 Unit Biscuit (2). Unit Cigar Stores Unit Corp (40c) Unit Corp pf (3). it Fruit (2). Unit Gas&Im (1.2 Unit Gas&Im pf (5).. Unit Pice Dye W (1). US & Forn Sec pf..., U S Indus Alcohol. . .- US Leather......... U S Pipe & Fdry (2)., U S Pipe 1st (1.20). U S Realty & Imp. U S Rubber. uUs U S Smtg&Ref pf 3% 1 U S Steel pt (7) . Unit Stores pf (3%). Univ Leaf Tob (3 23 Univ Pic 1st pf (8 10% 1% Util Pwr & Lt (A). 18% bW Vi -Car Chem 7% 1. 8 Vulcan Detinning. ... 7w Waldorf Sys (13%)... % WalworthCo........ 40% 12 Ward Baking pf (4).. 4% % Warn Bros Pictures.. 7 1% Warren Bros. ... bty 7% Warren Found & P. .. 50 45% Wesson O&Sn pf(4). r 3 WASHINGTON, D. C., RN ANNEND NBA R —ea RN = » S . » Y)Y L CT O TS { PYPYRPO PRS- SRS 3 TOTTINT - AP To Tt s o ) wos S T L T L L T T STy N 8 » 3 [OYSE-JURISY T LTIt " @ Sodud nrrauamosrmato~ soaan @ - Srurlanbane R e ek e o 000 00 b et et 1 RSN IR R oL g2 8 SREEEEs & s sPFsagres T4+ 410 +4+ FEFE F§ FIF FEEEEF ++ o L4+ ++1 6+ 41+ &5 FEES &S & FEE F EFe 14+ +11 - [l T TN w5 “F ssss 8 w52 2 ¥ +4 FUI I+ o SRR e ] & R FE SFEREFSS Ssegseass WEDNESDAY, 1982~ Stock and Sales— Low. Dividend Rate. Add 00. 22 WestPaElecA (7)., 10s 25 WestPaElpf (7)....110s 1% Western Maryland 1 13% Western Union...... 14 18% Westinghse Elec (1), 88 52% Westinghse 1st (31%%) 20s % White Sew Mch pf... 1 2% Wilcox Oil & Gas.... 3 % Willys-Overland 1 22 Woolworth (2.40). 71 26% 5 Worthington Pump.. 11 I JUNE 22, 1932. ~Prev.1933— High. Stock and Low. Dividend Rate. 5 1% Yellow Truck. 2 1% % FINANCI TRANSACFIONS ON THE NEW YORK STOCK EXCHANGE INFIFTH DISTRICT e s Add 00. High. Low. 1 2 2 k. Bales— Net. Add 00. High. Low. Close. Chge 1% 400,000 2:10 P.M. as given in the abo: e cash payments based on' the latest QuaTierly or ha rations. noc}, 5 25% = % | 0 Pald 0% 10 — % |in scrip. *Unit of tradin = 4 1 UBiL of trading Jess than 100 shares. e Payable in cash or stock. { Pl tPartly extra. 1Plus rate. b Payable in tock. b Plus 3% year—no regular 8% 1n s JPlus §1 in special preferred stock. 3 st year—no regular rate. n Plus 5% l:':]t‘al,% n";’l"ulnb}o CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, June 22.—The following is & summary of important corporation news prepared by the Standard Sta- tistics Co, Inc. New York, “for the Associated Press. News Trend. FPuther evidence of the pre-tax buy- ing movement on commodities was witnessed in the large reduction of gasoline stored at refineries at the close of last week. These stocks rep- resented 95.1 per cent of the 2,649,- 000 from those reported for the pre- ceding Saturday. Similarly, while ad- ditional indication of the stimulated ended March 31, 1932, $3,035,733, vs. 1 $1,410,819. P nited Piecé Dye Works, Inc., de- ferred quarterly dividend on common stock in order to conserve cash re- sources; last payment was 25 cents May 1, 1932. United Railways & Electric Co. o(‘ -oss earnings in five months g:ét;l;ng;:y!;lv $5,160,607, vs. $6,177,667; net deficit forw%erlod was $580,465, vs. net deficit $9,168. West Virginia Pulp & Paper declared quarterly dividend of 15 cents on com- mon stock; previously paild 25 cents uarterly. ki Regnlyshoe Co. deferred action on quarterly dividend on preferred stock; last payment was $1.75, April 1, 1932, General Motors Corporation—Frig- idaire prices advanced $4 to $16 be- cause of new excise tax. Borden Co. declared 50 cents quar- terly dividend; formerly paid 75 cents quarterly. Consolidated Mining & Smelting Co. of Canada, Ltd., deferred action on divi- dend until results for full year are available; last distribution was $1.25 cash and 5 per cent in stock. movement into consuming _channels was revealed in a gain of 344,000 to 2,128,000 barrels of gasoline stocks in transit. The American Petroleum In- stitute also reported that motor fuel in storage throughout the country had declined to 64,031,000. Most significant changes in the coun- try's average daily crude output, which advanced 14,100 barrels last week to 2,197,550, was an increase of 19,200 barrels in the Oklahoma field and a drop of 6,100 in California. The latter figure is in line with recent efforts of that State to bring production down to a previously recommended daily rate of 456,700 barrels. Average for the week ended June 18 was put at 480,- 700. It was further reported that no crude or refined oils from California were received at Gulf or Atlantic ports during the week, whereas in the pre- | ceding seven-day period these receipts averaged 32,143 barrels a day. The Companies. Midwest Utilities deficit, quarter ended March 31, $47,486. Sinclair Consolidated Ol increased price of gasoline one-half cent a gallon at New York and 1 cent a gallon at Jacksonville and Tampa, Fla. Standard Oil Co. of New Jersey ad- vanced tank car gasoline price one-half cent & gallon in New York Harbor. Virginia Electric & Power Co. reduc- tion of rates to cut revenues about $500,000 annually; salaries being low- ered 10 per cent. Columbia Mills, Inc., declared quar- terly dividend of $1; formerly paid $1.25 Minnesota Miring & Manufacturing declared quarterly dividend of 1213 &er;ts; previously paid 15 cents quar- Tly. Remington-Rand, Inc., deficit, year Baltimore Markets 8pecial Dispatch to The Star. BALTIMORE, Md., June 22 —White potatoes, old, 100 pounds, 85a1.00; new, | barrel, 1.25a2.65; sweet potatoes, bushel, | 35a60; yams, barrel, 1.00a1.25; aspara- gus, dozen, 50a1.75; beans, bushel, 50a 1.00; , 100, 1.00a2.00; hamper, 12a40; carrots, 100, 3.00; cauli- flower, crate, 2.00: celery, crate, 1.75a 2.00; cucumbers, bushel, 50a1.00" com,{ crate, 1.00a1.50; eggplants, crate, 1.25a 2.25; lettuce, bushel, 25a75; onions, per 100, 60a75; peas. bushel, 1.25a2.25; pep- pers, crate, 1.25a4.00; spinach, bushel, 130a90; squash, bushel, 50a1.50; toma- | toes, crate, 75a1.60; apples, bushel, 75a 2.00; grapefruit, box, 3.50a4.50; oranges, | box, 3.00a4.75; cantaloupes, crate, 1.15a | 3.25; blackberries, crate,"1.00a2.00. | Dairy Market. Chickens—Young. 16a24: Leghorns, 13a16; old hens, 13al16; Leghorns, old, 11a12; rooste; 8al0; ducks, 8al5; | pigeons, pair, 20a25. H Eggs—Receipts, 1,527 cases; current receipts, 13. Butter—Good to fancy creamery, 16 | al18; ladles, 12a13; process, 14al5; store-packed, 10. Hay and Grain. ‘Wheat—No. 2 red Winter, garlicky, spot, domestic, 56; June, 56; July, no quotations. Corn—No 2 yellow, 42a43; cob corn, new, barrel. Oats—No. 2 white, domestic, 31a31'3; No. 3 white, domestic, 30a301.. Rye—Nearby, bag lots, 40a42. Hay—Receipts, none. General hay market is quiet. Receipts ample of | timothy, but good mixed hay scarce and | bringing a premium. Price range from | 12.00 to 16.00 per ton. as to grade and kind: latter figure for choice clover mixed. The poorer grades of timothy are irregular in price. Live Stock Market. Cattle—Receipts, 100; steady; steers, spot, domestic, 1.75a2.00 per common to plain, 3.00a4.00; bulls, me- dium to good, 3.5084.00; fair to me- dium, 3.00a4.50; plain to fair, 2.75a ' 3.00; common to plain, 2.5082.75; cows, | good to choice, 3.50a4.00; medium to| good, 3.00a3.50; fair to medium, 2.50a | 3.00; plain to fair, 2.00a2.50; heifers, good to choice, 5.25a5.50; medium to | good, 5.0085.25; fair to medium, 4.00a 5.00; plain to fair, 3.50a4.00; cnmmon‘ to plain, 125a2.00; fresh cows and springers, 30.00a60.00. Sheep and lambs—Receipts, 500; | steady; lower; sheep, 1.0023.50; Spring | lambs, good to choice, 7.00a7.50; com- | mon to medium, 4.00a6.00; buck lambs | Hogs—Receipts, 200: steady; lights, 4.25a4.70; heavies, 3.75a4.35; medium, 4.25a4.70; roughs, 2.50a3.35; light pigs, 3.90a4.40; pigs, 4.15a4.60; Western hogs, 10-20 higher. Calves—Receipts, 75; steady; calves, good to choice, 550a6.50; common to medium, 3.50a4.50. Desirable FOR RENT in the cabbage, | KO Du Pont (E. 1) De Nemours & Co. rayon subsidiary has further cut prices up to 5 cents a pound. Public Service Corporation of New Jersey directors voted to reduce divi- dend on common stock from $3.40 to $3.20 annually and also to cut salaries | and wages by 6 per cent, effective July 1. It is estimated net for 1932 will be ahout $2.500,060 below 1931 figure. May | gross off 9.6 per cent, surplus after charges off 6.5 per cent; 12 months' 7085 Off 4.4 per cent, surplus off 3.1 per cent. = e MONEY MARKET. NEW YORK, June 22 (#).—With no new influences operating in the credit situation, the money market continued featureless today, with rates showing no change. In the outside market call funds were available at 1 per cent against the continuing Stock Exchange rate of 2!; per cent. Time money quotations were also unchanged. SILVER QUOTATIONS. NEW YORK, June 22 (#).—Noon— Silver futures sales 100.000 ounces. July, 27. : Stptember, 27.80 bid: October, 27.95 bid: Decem- ber, 28.18 bid; January, 28.33 bid. SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co.) Allis-Chalmers Co. 55 1937 American Chain Co. 6s 1933 American Tel & Tel 55 1943 Amer Wat Wks. & EI. 5s 1934 Baltimore & Ohio 4'2s 1933 Beldine Hemingway Co. 65 1936 Bethichem, Steel Corp S 1936 Cricago Rock Isiand 4s 1934 Cieve. Lor. & Wheeling 5s & So. R Gen. Mot ~Accep. Corp. 6¢ General Petroleum Corp. 5s General Public Service 5'as Grand Trunk of Canada 6s Houston E_& W. Texas 5 Keystone Telephone Co 8s Laciede 45 1 ew . Chi. & Et. L. s Northwestern Telep '4i3s 1 Penna. R 0. 6las 1936 Portland General Elec. 55 1935 Republic Iron n Southern fic 5 St L IMS Ry R &G. 45 Union Elec Lt & Pow. 55 1 Union Ofl Co. of Calif. 55 Virginia Rwy. & Power 5s Wabash Rwy. Co. 5s 1939 NEW YORK BANK STOCKS | & ¢ 4 NEW YORK, June 22 (#).—Over-| the-counter market: BANKS, Bid. Asked. Chase (2) A 21ty 23 Commercial ' (8) : 90 98 Pirst National (100) . 1030 Manhattan(2) 170 19k tional City (2) 27 Public (2) ny 19 TRUST COMPANIES. Bankers' (3) s Brooklyn Trust '(16) Central Hanover (*7) i 80) ... 1 (130} . Exchange (4) Empire (2) ... Guaranty (20) Irving (160) . Manufacturers’ New Y « Title Guaranty & *Includes extra. 6%7With Safety In Guaranty First Mort- f£age Securities. Well se- lected Investments in denominations as low as S ‘Real Estate Mortgage aad Guaranty Corp. 1610 K St. Nat. 1403 The mmmerct'al National Bank 14th and G Streets Complete Banking Service Investment Dealers Communicate with us, if you are interested in selling the preferred stock of a growing Industrial Banking Corpo- ration. Liberal commi: Address Box 287-E, Star Office Offices Barr Building SINGLE OFFICES, $35 TO $45 3-ROOM SUITES You'd ne AsLow As $100 ever realize such desirable office space would be had for so little cost. The Barr comfort and convenience. Building offers every Central location, within walking distance of ‘Washington' 's business center, outside rooms; fastest elevator service in the city, rest rooms and water coolers on every floor. An inspection will convince you of the great values now available in entire suites or single offices. We i nvite your inspection. The BARR BUILDING Consult WM. F. ALBEE, Mgr. Phone Met. 2777 | | | | 821 o 7 91 ' | Elec Pr Cor Wash 25c | 331 | b 934. 8 91 * | Peop'8 Bk ‘Ind) . 8 |on the theory that DECREASE IN BROKERAGE AL. STOCKS DEPRESSED INDRAGGY MARKET | Unfavorable Dividend Actions Prove Blow to Speculative Sentiment. BY GEORGE T. HUGHES. Special Dispatch to The Star NEW YORK. June 22.—Stocks fin- | ished lower today, e CHARGES IS SUGGESTED | ittie need to s sagathe market paid By the Assoctated Press. NEW YORK, June 22—It is said| that a mild agitation has been started for a reduction in Stock Exchange com- mission rates and that some brokers are | among the proponents of the scheme | Under the present scale it costs $7.50 | proposal of President Hoover to reduce armaments Ly 333 per cent. Although professional traders ignored = presidential proposal, it was hailed in Wall Street as the most important world action since the Hoover mora- torivm of last July. Shortly before the close some of the leaders staged a recovery from thet t business may be | e ooithe fioce sl ¥ be| midafternoon felapse. United States Steel firmed up, American Telephone to buy or sell 100 shares of wock el | Materially reduced its earlier decline ing under $10, and it is argued and Allied Chemical retraced more some that this is a heavy charge on | than a point of its lost ground. the shares selling around $1 or $2,| which now are particularly numerous. GOLD STATEMENT. NEW YORK, June 22 () —For the second successive day the gold state- | ment of the New York Federal Reserve | Bank showed neither exports, imports nor change in earmarked stocks at the local bank yesterday. The bank announced that $21,700 hand been received from Mexico on Monday and that a shipment of $78,- 000 from San Salvador had arrived at San Prancisco. DIVIDENDS DECLARED NEW YORK, June 22 (#).— Extra. Company. Rate. riod. able. Bkin Boro Gas pf.6%c .. July Inereased. Midbrgh Tr (Mass).$3 8 Reduced. Bk Pt Jeflsn (NY) 34 Borden Co Cit Gas Indnap...31lsc Link Belt Minn Min & Mf i2izc Naumkeag Tr record une June 30 June 30 Aug. 15 June 20 Aug. 15 June 22 June 15 June 20 June 30 June 20 June 20 June 22 0000D LOOON Seaboa:d Nat Sec. 25c Tite Guar & Tr Omittec. 1350 8 87mc Q@ Regular. Acme Farmer Dairy Ltd pf . 13 [ n Valve July 31 June 25 June 30 June 25 June 20 Amalgam Tr & Say Bk (Chicago) ..51.50 Optical 1 pf§1 ale Co pf....31 A Baker 1st p! -.$L78 June 16 Bilyn Boro’ Gas. 3180 June 3 Calaveras’ Cement 5 Cameron Mach pf.. 32 Cen Equity Tr 8h.25c Can Lt & Pw “50c Cent Hud G & Elec.20c 3150 3 Columbus 'Auto arts conv pf....50c Denv Un Stk Yds. 75¢ Do. pf $175 July 15 June 30 June 15 June 20 June 30 June 18 May 23 June 20 Aug_ 20 June 20 June 18 1 000 0PI I OO DOO OOOOD @ Hartford Conn Co.20c ry & Ship- bldg pf June 25 June 25 Do pt ' 20¢ Nat Pire ‘Ins 50 Nat Rockld Bank. 80c Oakid Cot M pi. 3350 Opelta Knits Milly: 31 Phila_Nat Bank. .$125 Plainfield Un Wat $1325 Portland Tr_(Conn).33 Brovidence Nat Bk June 25 Skl June 20 July 15 So_Cal Gas pf. it Do. July 15 37 June 30 June 20 June 20 June 20 June 15 175 Do. 6% pf C. 315 Superior P Cm B.1212¢ Superior Water Lt & Power pf Union Stock Yds of Omal United Sec_ Lt 0c U S Cold Btor pf.§1.75 Web & Atlas N B §1.25 Westchester Title & (White Plains) 60c Westn T & St pf.$1.75 Whitney Nat Bk NG 93 Whitney Nat ‘Tr & v Bk (N 0).31.50 1 00D DOOOOOO OWOOOOONOOOOONOOOOD June 15 June 30 June 24 June 24 June 20 June 20 @ O DO ©OOD D June 27 We wish to announc 0 July 1 June2o | June 30 | June 27 | Eastman Kodak improved sufficiently to show a slight net advance. Amer- jcan Can had less rallying power than other leaders, but it, too, regained some of its earlier loss. National Dairy Prod- ucts turned very active near the end, moving slightly lower. It was quite a blow to investment | sentiment to see the dividend on | American Smelting & Refining pre- ferred stock passed Tuesday and to read today’s announcement that a cut had been made in the rate on such strongly entrenched shares as those of the Borden (Co. and Public Service | Corporation of New Jersey At the same time the 2-point de- cline in United States Steel preferred, which_carried it through $60 a share, and large transactions in American Telephone & Telegraph well below $80 a share were intimations of Wall Pe- Pay- Hldrs of | Street's forecast of what directors of the leading industrial and the largest public utility corporation in the coun- try may do when next they sit down | to_determine their dividend policy. | _The effect of these incidents was shown in other parts of the market, where heaviness occurred without any | great increase in volume. American | Can common was one of the new re- | cruits to the low price list. with a de- | cline at one time of 2 points. Another | was the widely distributed General | Motors 5 per cent preferred, which sold on better than an 8 per cent basis. | The food stocks were affected by the | Borden dividend cut. United States | Steel common hovered within a small fraction of its 1932 Jow price during the morning, and was conspicuous for its lack of recovery after an early de- cline of nearly a point. Aside from American Telephone & Telegraph the utilities held relatively firm, with Public Service of New Jer- sey at midday at the same price as at Tuesday's close. Railroad stocks were | heavy, especially Atchison and Union Pacific. U. S. TREASURY BALANCE. | By the Associated Press. Treasury receipts on June 20 were $15.994,157.13; expenditures were $52,- 743,696.16; the net balance was $640.- 394.967.42. Custom receipts for the 20 days of the month were $11,606,767.63. —_— For in regularity (and NOT necessarily amount) lies the secret of successful savings. Open your account with us today, and deposit a small part of your ngs each pay-day! At 5% interesit, your savings will accumu: late rapidly. Open Daily 9 to § Saturdays Until Noon SPTIONG, PERMANENT BUILDING ASSOCIATION %MQ'OM ST. N.V!;\\ o 35 Seervision s 1% Johnson Iron WKs | | “Dry Dk | Lane Co Inc.... .31 Do pf 31 June 35 | Lord & Taylor 2d pf 5 Nat Cit B (Evansvl) Nat Fin Co (Bal) A.20c Do. B . 20c 7 \ e the appointment of R. E. HEITMULLER, C. P. A. (New York) as the manager of our Washington office and the acquisition of the accounting business of The Audit Company of New York R. G. RANKIN & CO. 730 15th New York BIRST Chicago St. N.W. San Francisco MORTGAGES EMPLOY YOUR SURPLUS FUNDS in an investment where the return is distinctly known beforehand; and doesn’t vary during the entire term. Over a Third of a of our Century Without a Loss Security trust on That is one of the popular features 629 FIRST MORTGAGES They pay this generous interest from the day of investment to the maturity of the mortgage. is represented by first conservatively appraised, improved Washington real estate. May be purchased in amounts from $250 up. B. F. SAUL CO. National 2100 THERE IS NO SUBSTITUTE 925 15th St. N.W. FOR SAFETY