Evening Star Newspaper, July 15, 1932, Page 14

FINANCIAL. (SOOSHRALY tinghouse Elec. . 18% White Rock M S (2). 12 Wilcox Oil & Gas. ... 3 wil Wilson & Co (A) . Woolworth (2.40). Worthington Pump. . 4 Worth Pump (A).... Worth Pump (B).... 2 17 A_I4 #E% FINANCIAL. INCREASE IN BANK CLEARINGS NOTED Reports for Leading Cities| Outside New York Reveal ~Prev.1932 figh. Low. 1% 9% 357 155 281 5% 3 4 45% 7% Vulcan Detinning. ... } o i 301 Sales— Net. | —Prev.1932— Stock and Add 00. Chge. | High. 'Low. Divicend Rate. 4% Ilinois Central...... 30 7 w| 8 United Stores (A). .. 15'% Illinois Cent 11 (4).., 10s 48% 27 Unit Stores pf (314). 14% Ingersoll Rand (3)... 15 ; 20 12 Univ Leaf Tob (2) % Inspiration Copper 1 " 10% 1% UtilPwr &Lt (A). 16% Alaska Juneau (50c). 17 9% 9% 9% + % 3% Ins'sharesDel a62ic. 3 18% 5% Vanadiom Corp. .. 31 Alleghany Corp...... 14 8 % % 1 Insprshares (Md)... 2 89% 60" VaileohPo e ()., 358 8715 4215 Allied Chem & D (6). 49% 46% 48% 1% 2% Interboro Rap Trans. .1 7 214 Va Iron Coal & Coke. 1608 119 Allied Chem pf (7)... 6 106% 105 105% + % 5215 Int Bus Machine(n6). 29% 13% Allis-Chalmers M{g. 5% 5% 5% + % 10% Int Harvester (1.80). - PR —Prev.1932— Stock and Daylight Saving Time Is Used in All Market Editions. R e —Prev.1932— Stock. ana Bales— Net. High. Low. Dividend Rate, ‘Add 00. High. Low. Close. Chge. 5% 1% Adams Express. 4 2% 24 24-% 163 Affiliated Prod 1. 5 6% 64 6% + 4 6215 Alr Reduction(t412). “38 36 34% 36 +1% .+ Steady Advance During Day Brings Increase in Slight Upturn. BY EDWARD C. STONE. Bank clearings for the week ended July 13 showed a slight gain in the Jeading cities outside of New York City, compared with the previous week. Clearings in this city, however, slightly lower. Checks passing through the Wash- ington Clearing House totaled $19, 000, against $19.944,000 in the previous - weck. Balimore reported a total of $57,204.000, compared with the much lower figure of $47,345,000 in the pre- vious weck. Richmond reported clearings totaling 8000 in the ending July 6. in_ of $1,600.000 hington and all these > below the totals a year figure other citie for the like weeks 9.8 per s Teports 1 a reported the best compa Life Insurance Sales Off. Total new paid-for life insurance written during the first six months of 1932 was 13.9 per cent less than the amount for the corresponding period of 1931. The volume of new life in- surance last 1 was 22.6 per cent below June of according to As- ciation of L nce Presidents the first half of vear, the | reserve was 38,630.000 a e of 13.09 per cent. | isurance amounted to ainst $3.950.437.000, a 3 per cent. Industrial amounted to $1,362.331,000, 391.763.000, a decrease of 2.1 Group insurance amounted against $496,430,000, insurance against S1.; per cent to $357.220.000, off 28 per cent. For June, the total new business of all ¢ n by the 44 companies wa 080,000, against $1.005145.000 in June, 1931, a decrease of 22.6 per cent ordinary insurance amounted to $514,176.000, against § 236 per cent. Industrial insurance amounted to $213.208.000. against $250.- e of 149 per cent. £50.606.000 000, a decline of 38 per Corby Host to Ticker Club. <arl W. Corby of W. B. Hibbs & Co. k:‘(‘!!n\x} v<nm-' to the Ticker Club at | i i ntgomery County on Wednesday afternoon and evening. The afterncon was devoted to swim- base ball and other out-of-dcor Those present included Chester W. Lockwood and Thomas J. Mangan. jr. | Hemphiil es & Co.; J. T. Hendrick, W. B. Hibbs & Co.: John D. Moth- ershed. Fenner. Beane & Ungerleider; | Bernard A. Smyth and A. McCook Dun- were | Jop. Goodbody & Co.: Ralph M. Wolfe, MacKubin, Goodrich & Co.: A. Chester Flather and C. Carroll Morgan. G. M. P. | Murphy & Co.; A. H. Reeside, West heimer & Co.. and Thomas W. Brahany E. A. Pierce & Co. Capital Traction Stronger Today. Capital Traction stock was a bit stronger on the Washington Stock change today on account of the revived on in Congress regarding the r of the street car com- | ngton Railway & Two small lots changed | Thands at 7 The stock closed for the day with 7 bid and 8 asked, the bid price having advanced from 5%. It! Was a good day for Traction even if | sales were light. The remaining trad- ing for the scssion was confined to Washington Railway & Electric ds, which moved to the extent of two $1,000 transfers at 97'.. The weekly | checking of quotations on the unlisted | issues took piace, no changes being noted. A. & P. Sales Are Reported. Sales of the Great Atlantic & Pacific Tea Co. for the five weeks ended July 2 were $86,062,734, compared with $99,- 342,006 in the like 1931 period, a de- crease of 13.3 per ce For the 18 weeks ended July 2 dollar sales were off 13.6 per cent from last year. Ton- nage sales for the five-week period de- creased 4 per cent and for the 18-week period decreased 4.7 per cent. Thousands of holders of American Telephcne & Telegraph stock in this| city received the regular quarterly divi- dend in the first mail today, $2.25 a share, at the rate of $9 a year. The report for the sccond quarter was also Teceived and read with great interest. The July 15 regular quarterly cash dividend of 25 cents per share wen! out to over 17.650 stockholders of In- corporated Investors located throughout the Incorporated Investors has paid a cash dividend regularly, be- ginning in June, 1926, and at the prcs- ent rate 1929. Sales sn June amounted to over 25,000 shares This le largest number of shares month of 1932, thel ce reports, Heard in Financial District. issue of 000,000 of 91-day bills is being offered by the They will run from July 20. Bids will close Monday afternoon. Whoiesale commodity — prices con- tinued their increase in the week ended July 9, showing a gain of 0.6 per cent, i according to the Bureau of Labor Sta- tistic c Co. An ‘Treasury Government. Virginia_Gas Distribution Cor- poration nbia Gas & Electric Corpo chased the St Waynesbore, Va, propertics of the Consul ility Co. and will substitute natural gas for the present artificial supply Boston reports that the New England Trust Co. has declared an extra divi- dend of $5 and the regular semi-annual dividend of $10. both payable August 1 to stock of record July 1. A similar extra dividend was paid six months ago. Richard A. Norris of the Lincoln Na- tional Bank, president of Washington Chapter. American Institute of Bank- ing. is preparing to name committee chairmen for the coming year, and as soon as this 1 done preliminary organi- zation for the opening of the Fall semester will get under way. F00D INDEX HIGHER. NEW YORK, July 15 (#).—Reflect- ing the increase in certain commodity prices, notably hogs end hog products, Bradstreets food index ros> 3.6 per cent this week. The index turned up- ward on June 7 after three months f steady declines, and with the cxce) of one siight dip has since been rising. On July 12 it stood at $174, against $1.63 on May 24. POTATO MARKET. CHICAGO, July 15 () (United States Department of Agriculture).— Potatoes, receipts, 161 cars; on track, 411: total U. S. shipments, 755; weak; supplies heavy, trading slow; Cobblers, Missouri, 70a80; few fine quality, 85; decayed, 60a65; Kansas, 65a70; few, 75 decayed, 60a65; Oklahoma Triumphs, few sales, 90a1.00. ! e Loew's Cuts Salaries. NEW YORK, July 15 (#).—Artists, directors and other employes of the Metro-Goldwyn-Mayer and Loew Mo- tion Picture interests earning $1,500 or more a week will have their pay checks cut by 35 per ccnt under a gen- eral salary reduction order effective next Monday ment of the ash Nizholas &che’y °f both compantes. 16% 79 8 417 11 26% 21% 20% 10% 4 €8!3 113 683, 95 10% 14% 24% 68! 54 6% 195 183 61 181 45 35% 30% 25 13% 64 1% 2% 19 70 105 131% 4 24% 5l 161 20% 1% £ « Am Can Co (15) .. Amerada Corp (2) Am Beet Suga 2 Am Can Co pf (7).... 5 3% 6 3% 29% 2% 4 T 16% 20 3% 3 Chi Am Car & Foundry . Am Car & Fay pf (7). ‘Am Comcl Alcohol. .. Am Encaustic Tiling, Am & Foreign Pwr. .. Am&Forgn Pw pf(6). Am&Forgn Pw pf(7). Am & For Pwr 2d pf AmIce (2)...c.... Am International. Am Locomotive. Am Mach&Fdy (80c). Am Metal C Am Metal pf.. Am Pwr & Lt ( AmP & Ltpf A (5). Am Safety Raz (3). Smelt & Ref. Am Tel & Am Tobacco (16) . AmTobacco B (16). Am Water Wks (2). Anaconda Copper Anchor Cap pf (61 Armour of Del pf(7). Armour of 111 (A).. Armour of 111 (B)... Armourof 11i pf. Arnold Constable. Associated Apparel. Asso Dry Good teh Topeka & S Fe.. Atchison pt (5). Atlantic Coast Line. Atlantic Refining (1), Auburn Auto (f4). Autosales pf. Aviation Corp (Del) . Baldwin Loco pf. . Baltimore & Ohio. Baltimore & Ohio pf Barnsdall Corp Beech-Nut Pkg (3).. Belding-Hemingway Bendix Aviation. Bethlehem Steel. Bethlehem Stl pf (7)., Borden Co (2). Bueyr Budd ( dian Pacific 1% . e (J 1) Co ase (J 1) pf (T ‘aterpillar Trac 50c. Cent Aguirre (1%).. Cent RROfNJ. Century Rib Mills Ches & Ohio (213). Chesapeake Corp (2 Chi asternIll. . ... Chi Great Western. Chi t Westpf... Chi Mil StP & Pac. Chi Mil StP & Pac pf. Chi & Northwestern., Chi Chi Rock I & Pacific Chi R1& Pac 6% pf.. Chi R1& Pac 7% rf.. Chi Yellow Cab (2) .., Childs Company . Chrysler Corp (1). .. City Ice&Fuel (3.60). Coca Cola (18)... Coca Cola (A) (3). Colgate-Pal-Pete (1) Colg-Palm-P pf (6) Collins & A Columbia Gas (b1). . 31 pf A 16).; Columb Carbon (2). Comel Credit (50¢) .. Comel Credit A (3). 3l onult red pf (1 .}. cl Cred pf B (2). olv (60¢). ... Comwlth & Sou(30c). Comwlth&Sou pf (6). Consol Film pf.. Consol Laundries(1). Consol Oil Corp. Cons RR of Cuba pf ontainer C Contl Can (2 Contl Motor: 1‘rmll Oil (Del) Corn Products . Corn Proa pf Crucible Sieel pt Cuba C; Cuba R R pf (6).. Cuban-Am Sugar. m Sugar p Cudany Pack (213). Curtiss Wright » Curtis Wright (A) 1 6% 32 6 10% 45 85 3 1 10 91y 43, 10% Bl 105 19% 193 ™% 1 22 14% 5'a 5 3% 15 S T 33 3 110 1 8% 1% Cutler Hammer . Davison Chemical. Deere & Co pf (40¢) . Delaware & Hud (9) Del Lack & Western. Devoc&Raynolds(A), Diamond Mateh (1).. Diamond Mtch pf 113 Dome Mines (11.20) Drug Corp (4). Dupont de Nem (3). Dupont deN db pf(6). Dugques Lt 1st pf ( man Kodak ( ¢ Auto-L (1.20). ec& Musical Instru, lee Pwr & Lt....... lec Pwr & Lt pf(6) ec Pwr & Lt pf (7) ndicott-John pf (7 ng Pub Sve pf (6) .. Fidelity-Phoen 1.20., Firestone T& R (1).. Firestone T&R pf(6). First Natl Strs (214). Fisk Rubber. .. Fisk Rub 1st pf cv oster-Wheeler. . Fox Film (A). : Freeport-Texas (2).. Gen Am Tank Car(1). Gen Asphalt (1). Gen Baking (2).... Gen Electric (40c) Gen Elec spec (60c).. Gen Foods (2) Gen Gas & Elec (A) .. Gen G&E cv pf A(p6) Gen Gas & ElecA(7)., Gen Gas&El pf A(8). Gen Mills (3) . Gen Mills pf (6) Gen Motors (1) Gen Motors pf (5).. Gen Outdoor Adv.... ien Public Service., Gen Rwy Signal (1) Gen Refractories. Gillette Saf Raz (1) Gillette Saf R pf ( Glidden Co pr pf (7). Gobel (Adolf). . Gold Dust (1.60).... Goodyear Tire&Rub.. Goodyear 1st pf (7). Gotham Silk Hosiery Graham-Paige. . Grand Union pf (3). Grant (WT) (1). Great Northern pf Great Northern Ore Great Western Sug. . Grigsby Grunow. .. . Hahn Dept Store: Hahn Dept Stores pf. Hanna pt (7). . Hollander Sons . Homestake Min (9) Houdaille Hershey . Houston Oil. Houston 0il (new) Howe Sound (40c). Hudson & Man (315). Hudson Motor C: Hupp Motors 17 1% 350 101 5 20 14 1% o e R OEN KB AR~ XN—E B s b8 (9 8 S S2xauFarmrr: L - S 16 1 334 1008 % 1974 131 1% 3 7 ™ 5 10t 31y 5% 8% 17 1% 347 101 5 20 14 1% 3 7 813 Bly 10% 4 5% 9% 2% 9 5% 16% 4 16% +1'% +1 +1 + % +1 L+t | + T L+ + 65 12% 25% 84 13% 9 9% A% 10% 13 19 110 187% 7 33 13% 26% 2415 36% 13% 94y 19% 16% 50 2% Int Hydro-Elec (A).. 1 315 Int Nickelof Can.... 58 2 Int Paper & Pwr pf 1 13 Int Rys Cent Am ctfs 150; 9% Int Salt (13%). 26 Int Silver pf (4) 208 2% Int Tele & Teleg k 10 Johns-Manville. 23 30 Jones & Laugh pf(4). 60s 2%, Kansas City Southn., 1 3 Kaufman DS (80c). 3 47 Kayser (J) & Co 1 1 Kelsey-Hayes Wheel, 12 23, Kelvinator Corp 5 47x Kennecott Copper 16 6% Kresge (SS) Co (1).. 18 88 Kresge (SS) pf (7)... 20s 10 Kroger Grocery (1) 9 25 Lambert Co (15) 35 Leh Port Com 5 Lehigh Valley R R. 305 Lehman Corp (2.40) 34 I.h: & Myers B (15). 14 Lily Tulip Cup (1% 9 Liquid Carbonie 131 Loew Inc (14). 16% Loose-Wiles Bis (: 9 Lorillard (P) (1. 14 Louisiana Oil. 8's Lou Gas. nisville & Mclntyre McKeesport T P (4) McKesson & Robbins McKesson & Robs pf. Mack Trucks (1). ey (HR) (n2). o ran e nreten Manhat mod gtd Manhattan Shirt. ... Marine Midid (80¢) Marshall Field & Co Mathieson Alk (173 May Dept Stores 1.8 Mid Continent Petm Minn-H'well Reg ). Minn Moline P pf. M StP & S S Marie. . Mo Kan & Texas Mo Kan & Texas pf. Missouri Pacific. . Missouri Pacific pf. . Mohawk Carpet. . Monsanto Chem 115 Montgomery Ward. Morrell & Co (2 Motor Wheel 2's Murray Corp Nash Motors (1) at Biscuit (2.80) at Cash Reg (A) at Dairy (2.60) at Dist Prod ‘at Lead pf A (7) tPwr & Lt (). Y Central \ Y Chi & St \ H & Hartford. H & Hart pf. . Ont & Western.. . am pt (6). eam 15t pr(7). oranda Min (a3le). orfolk & West (8).., orth Am Aviation. . 3 or Amer(b10% stk). 515 Northern Pacific. . 5 Ohio Oil (a20c). 9 Otis Elevator (1 12 Owens 1l Glass (2). » Pacific Gas & El (2).. 20% Pacific Lighting (3).. 3 58 Pacific Tel&Teleg(7) 10s 851, Pacific T& T pf (6).. 10s Packard Motor Car. e Transport, 2 Penick & Ford (1)... 3 Penney (J C) (2.40). 20 Foniim Ratlvoads == <0 Peoples Gas Chi (5). _ 36 Dere Marquette pr pE 1008 Petro) Corp of Am Phelps Dod Phila & Read C& 1. Phillips Petroleum. Pierce Oil Pierce Oil pf..... Pierce Petroleum. . Pitts Coal pt FPoore & Co (B) . Port Ric Am Tob( l(h Postal Tel&Cable pf. Prairie Pipe Line. Proctor & Gamble () 10', Pullman Corp u) ' Pure Oll. 11 Radio- 15 Reading 1st pf (2). 21 Real Silk Hosiery . 5 Rem Rand 2d pf Reo Motor Ca Republic Mexlnl Reynolds Met (1 : Reynolds Tob B Richfleld Oil. . 4 Rossia Ins of Ame Safeway Strs pt (7).. 1508 t Joseph Lead. St L-San Francisco. St L-San Fran pf.... Seaboard Air Line pt seaboard Oil Del 40c. ears Roebuck. hattuck (FII) 50¢. hell Union Oil. hell Union Oil pt immons Co.. « Simms Petroleum Skelly Oil. . Skelly 01l pf ww Socony-Vac (80c). South Port Rico So Port Ric § 15% Southern Cal 6lg 21a B% Stand Brands (1.20).. 1 Stand Com Tobacco. . 7% Stand Gas & Elec (2). 28 Stand Gas&El pf (7). 15% Stand Oil Calif (2)... 81 Stand Oil Exp pf (5). 7 Stand Oil Kansas. 19% Stand Oil N J (12) 1 Sterling Secur (A).. 3, Sterling Secur pf.... 434 Stone&Webster(50¢) 214 Studebaker Corp 24% Sun Oil (1).. 68 SunOil pf (6).. uperior Oil 9% Texas Corp (1). 12 Tex Gulf Sulph (2). 21 Tex Pacific Land Tr 40 The Fair pf (7)... 2% Thompson Products. 12 Thompson-Staret pf. 2 Tide Water Asso Oil.. 20 Tide Water As pf (6) 2 Timken-Detroit Axle. 7% Timken Roll B1%... 2t Transamerica Corp. 1% Tri-Contl Corp. . 42 Tri-Contl Corp pf(6). 2 Truscon Steel....... 1% Twin City RapTran. Twin City Rap Tr pf. 15% Un Carbide & C(1.20) 8 Un Oil of Calif (1). 27% Union Pacific (6). 11% Un Tank Car (1.40) 6% Unit Aircraft. 30% Unit Aircraft pf (. 6% Unit Carbon. . % Unit Cigar Store: 315* Init Corp (40¢) . 20 Unit Corp pf (3) 10% Unit Fruit (2) 9% Unit Gas&Im(1.20). 26 US&FornSecpf.... 10% U S Gypsum (1.60)... 13% U S Indus Alcohol T% U S Pipe & Fdry (2) 1% U S Rubber 3% U S Rubber 1st pf.. 10 USSmtg & Ref (1) 31 USSmtz&Ref pf 3% | L+ +1 4| R PHI+ A+ttt +iE+ 100 13 4 Warn Bros Pictures 1 Warner Quinlan. b Warren Bro: 17% Warren Bros cv pf 70 West Pa Elec A (7).. 40s 70 West Pa Elec pf ns). 10s % Western Dairy (B). 5 ™% Western Maryland. 14 4 3 6% 50 12% 40s Western Union 28 57 25% Wrigiey (Wm) (3).. 30 30 Sales of Stocks on New York Exchange. 10:30 A M 1:20 P.M Dividend ra s as 100,000 12 400,000 eive: 0 Noon. . 200,000 10 P.M...... 500,000 in the above tables are the annua | cash p.yments based on'the latest quarterly or half-yearly Gecla- rations, in stock. ) Plus $1 in tPartly extra. $Pius b Pavable in or stock € Plus - ecial preferred stcck m Paid la:t_year—no regular rate. in serip. Ex-dividend. DEPARTMENTAL BANK CLOSED BY DIRECTORS tionary Measure—Controller Takes Charge of Institution. ‘The Departmental Bank, 1726 Penn- sylvania avenue, today was in the hands of the controller of the currency, the directors having decided late yes terday to suspend operations as a pre- cautionary measure. W. N. Taylor, national bank examiner is in charge. In announcing the action, the fol- lowing statement was issued by the bank: “At a special meeting of the board of directors of the held late this ¢ decided to su'pend operations and turn the aflairs of the bank over to the controller of the currency. “This action was wholly voluntar: on the part of the bank and was taken purely as a precautionary measure in view of the recent closing of sei local banking concerns.” J. T. Exnicios is president of the bank. The controller's call on June 30, showed deposits of $1,181,886.32. John R Hawkins, president of the Prudential Bank, 717 Florida avenue, told The Star today thzt groundles fears had been expressed by some of the patrons of his institution. and re- quested that publicity be given to the statement that the bank is in excel- lent condition. lWashington Produce Butter—One-pound prints, 93 score. 22; 92 score, 21; standards, 20: tub, 93 score 21; 92 score, 20; stzndards, 19. Eggs — Hennery, 15al16; current re- ceipts, 13a14; Western, fresh, 14al5. Poultry, alive—Turkey 12; toms 10: crooked breasts, 10: Spring broil- ers, Plymouth Rock: : pounds 2 over, 19a21; 2!, pounds and under, 16a 18; Rhode Island R 15a17; mixed colors, 14a16: Leghorns, 14al6: hen: colored, 13al5; Leghorns. 12; roosters, 8. Poultry, dressed—Tus . hens, 15; toms, 13; crooked breasts, 13; Spring broilers. Plymouth Rocks, 2': pounds ver. , pounds and under, nd Reds, 18a20; mixed rolcrs. 17a19; Leghoins, 17al9: Leg- horns, 15; roosters, 11; Long Island ducks, 14al5; hen: ) Meats—Becf, 15: 19: pork loins, 2 smoked hems, 16 7, compound, 6'.. Live s!mlflhg medium. Digs, 4.50a5.00; Foughs, 2.0743.00; 3.0025.50: lambs, 6.00 Fruits—Watermelons, 25a60; loupes, California, _crate Nort | 1.50; 100, 1 berries, 4.00; bananas, Ties, 2. 4.00; rod, 8.00: 1.00a2 ; alligator pea Ibox’ “stock, 1.75a2.00; | bushel,” 50a1.00; | grapes, Thomp: 150a1.75; peache aga. 1.25. Vegetables — Pot d’{‘r(<. old. 10 buslz‘(l celery. 1.75; string beans. 1.50a2.50; peas, California 1.75a2.00; asparagus bskets, 1.00: 150; e, Iceberg. 3.5023 York, dozen, beets. per 100 bur 2.00; onions. 50-pound ks, 1.00a1.25; cabbage, 50a75: spinach, 1.00a1.10; kale 50a60; ushel, 2.€0: 2.00; mushrooms, 2-peck new, barrel, Columbia Permanent Building Association PAYS 5% compounded semi-annu- ally under U. S. Gov't Supervision. Organized Jan. 1, 1903 733 12th St. N.W. Melvin C. Hazen, Pres. Wm. P. Richards, Vice Pres. Floyd E. Davis, Treasurer Fred A. Smith, Secretary ENTERPRISE SERIAL BUILDING ASSOCIATION 7th and Indiana Ave. N.W. LOANS On Improved District of Co- lumbia Real - Estate Security 68th Series of stock now open for subscription James E. Connelly, James F. Shea, President Secretary W 6% With Safety in Guaranty First Mortgage Securities ‘These high-type investments se- cured by direct first mortgages on _income-producing proper- ties here in the Nation’s Capital. nnnnmlnullanl From $100 Be Purch: lllll on nihly Favments % Send for Baaklzt,y “The Success Plan’ REALESTATE Suspension Is Ordered as Precau-| CORPORATION REPORTS DS AND PROSPECTS OF LEADING ORGANIZATIONS, NEW YORK, July 15—The following is today's summary of important cor- poration news, prepared by Standard Statistics Co., Inc, New York, for the Associated Press. Advertising, Printing and Publishing. Hall (F. W. Printing Co. passed semi-annual dividend on common stock; paid 30 cents February 2. Automobile Parts and Tires. Murray Corporation of America de cit, four months ended April 30, 1932, $1,071,907. Electrical Equipment and Radio. Western Electric Co., Inc.. had a loss of $3,381,000 in first four months and operations at 20 per cent of capacity. Food Products. Coca-Cola Co—Supreme Court has dismissed damage suits filed against company by Pepsi-Cola and three candy store chains, including Loft, Inc.: court refused to dismiss libel suits against company. Metals (Non-Ferrous). Mohawk Mining Co. declared an ex- tra dividend of $2 and a dividend of cents on capital stock; cn May 31 made extra distrinution of $5. Miscellaneous. International Corpora- tion profits for first quarter indicated 2t 13 cents per Class “A” share ‘Saiety Razor common share Crow (A) & Son, Inc.. def ended June 30, $62,413 $431,562 6 monih net income, 6 nths ended , estimated at $8.75 vs. $11.76. York Dock Co.—Directors not to give consideratiop to subject of divi- dends on preferred stock prior to clo. of current year ause of uncertainty ns; last payment on dividend on 6 ock; paid $1.627: on Missouri-Kansas Pipe Line—Court refuses to dismiss foreclosure suit filed inst_company by Peoples-Pittsburgh Trust Co. Railroad and Railroad Equipment, Southern Pacific Co. salaries of over $10,000 reduced 10 per cent further. Retail Trade. & Pacific Tea Co. ks ended Jul off weeks, off 13.6 ales for the 5 weeks off 4.1 per cent off 4.7 per cent. Loblaw Groceterias Co.,, Ltd, net profit, 4 weeks ended June 25, $69,051 Vs, $70.856. Great nt: tennage Textiles. Hat Corporation of America an- nounced no action has been taken or will be taken in regard to declaring a dividend. payable August 1. 1932. to holders of 61 per cent cumulative pre- ferred stock. EARN 10 WITH SAFETY ited offering Gold Debenture Notes of $100 Up, redeemable on 60 davs” notice. Pasing 21 Quarterly, PATUAL pavment plan i desired. See Guil Barber National 6125 1103 Vermont Money on Hand to Loan on First Deed of Trust 6% Interest Reasonable Commission and Prompt Replies to Applications JAMES F. SHEA 643 Indiana Ave. N.W. Owing to Present Economic Conditions $5,000.00 Can buy major interest in exclusive Washington fran- chise. For sale timely financial plan . . . within two years earnings should be $30,000.00 per annum with normal crease thereafter . . . opportunity for person of means those interested communicate through attor- ney with Box 64-V, Star Office. on most The National Permanent Building Association is an Institution devoted to the two-fold purpose of aid- ing Washington families to accumulate savings . . and to purchase their own homes. Perfect satisfaction to both savers and borrow- ers marks our 43rd year of service! U2 Pfimfinsfit BUILDING ASSOCIATION 4, IH9-97 ST. N, 4 ‘o SUtpvision v per | ‘BROKER lOAN TOTAL IS $12,000,000 HIGHER Total Borrowings of Exchange Members Now $345,000,000, Re- serve Bank Reports. Special Dispatch to The Star. NEW YORK, July 15—The weekly statement of the Federal Reserve on brokers’ loans showed an increase of $12,000,000 during the week ended July 13 to a total of $345000,000. This compares with the all-time record low of $333,000,000, made last week, and with $1,430,000,000 on July 15, 1931. Lozns for own account” amounted to £317,000,000, compared with $305,000,- 000 a week ago. Loans for out-of-town banks were $20,000,000, against $19.- 000,000 and loans for account of otkters ounted to $8.000,000, against $9,000, 000. Demand loans constituted $248.- 900.000 of the total, compared with $235,000,000 last week, and time loans were $97,000,000, against $98,000,000 The New York Federal Reserve dis- trict rediscount rate remains unchanged at 21 per cent. NEW YORK BANK STOCKS '\'E‘\"V ?’;SRL:K[ July 15 (#).—Over-the- BANKS General [nsurance g Fire. A Wind al ursla —— ith. Burslary. Workmen's "Compensatiohs Forgery Thos. E. Jarrell Co. 721 10th St. N.W. NAtional 0765 Adam A. Weschler & Som, Auctioneers Trustee's Sale of Valuable Downtown Office Building No. 821 Fifteenth St. N.W. By Public Auction FRIDAY, JULY 22, 1932 At 5 O'Clock POI. By virtue n' deed of trust recorded in Liber No. G628, folio 91. et seq.. one of the land rl-rordt of the District of Columbia. and at the request of the party secured thereby. the undersigned trustee will offer for sale in front of premices, lot 34, in square improved as above. Terms of sale: One-fifth of the pur- chase mones to be paid in cash. balance in one. (wo. three and four vears. 5000 deosit required of purchaser at salc For ‘further particulars see advertise: ment auction column, Evening NATIONAL METROPOLITAN BANK OF ~ WASHINGTON Trustee. By R. P. Hollingswarth Assistant “Trust Ofcer. Organized 1879 Buying Orders. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, July 15.—Railway shares were the leaders in a last-hour rally that put today's stock market substantially higher all around. Prices had been steady all day, with scattered advances, but it was not until late in the afternoon that #he buying | gathered any volume. Atchison and Union Pacific made new highs on the recovery, while in lower priced stocks New York Central seemed to be under accumulation. More or less ever, all the rails were strong. Another group that was prominent on the advance was the pe- troleum _stocks. American Telephone shook off the influence of the poor half statement and closed higher on the day. while numercus industrials bere- fited by short covering Approaching adjournment of Con- gress was one reason for the rally. An- other was the excellent way in which the new hond financing was absorbed. But most important of all was tre steadying of the grain markets, which so weak yesterday and the ad- e in cotton, which was up over $1 a bale Publication of the American Tele- phone & Telegraph semi-annual state- ment was an adverse influence. It showed earnings for the stock of $4.02 a share, against $4.89 a stare in the ths a vear ago; but if were taken of the payment to arent company by the subsidiaries the showirg Also the pro- telephones in use would have been wors: declice m was discouraging. Telephone opened fractionally lower, reacted, then hardened, and at the end of two hours trading in the stock was unimportantly changed. The immedi- ate question that interests the Street, | of course, is what will be done at the dividend meeting on August 17. It would be natural to expect a reduction in the rate, but there is a considerable body of opinion to the effect that there will be no change at this time. How- X be, the price of the stock has already mswumcd some reduction. 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