Evening Star Newspaper, July 21, 1932, Page 14

A—14 »¥x SAG IN INSURANCE BUSINESS IS NOTE June Figures Reveal Decline in All States Except Nevada. BY EDWARD C. STONE. June was a rough month for insur- ance agents in every State in the Union except Nevada. The insurance experts of that State wrote 7 per cent more new life policies than in June, 1931. All the other States and the District of Colum- bia did less busi- ness than in the same month & year ago. New _insurance in the District of Columbia was 31 per cent lower than in June, 1931. The average _for the United States was 27 per cent off from last year. In the fifth Federal 3 Reserve district, South Carolina was down 28 per cent, Maryland, 33 per cent; West Virginia, 33 per cent, and Virginia, 40 per cent. South Dakota had the hardest luck of any State, business being down 51 per cent from June totals a year ago. Next to Nevada, New Mexico made the best showing, with Montana second and Texas and Utah third, with a loss of only 15 per cent. Oklahoma, Illinois and New Hampshire were next in order. The District of Columbia wrote $4 301,000 during the month, Maryland new insurance totaled $7,727,000, Vir- ginia wrote $5.050,000, and West Vir- ginia, $3450,000. North Carolina turned in $5.499,000 and South Caro- lina, $2,769,000.. Georgia did over $6,000,000 and Florida more than $4,000,000 new business. Summary for Six Months. Today's Teport from the Sales Re- gearch Bureau of Hartford sums up business for the first six months of 1932, showing that sales were well below the same period last year. The report adds, however, that the rapid growth of life insurance is evidenced by a comparison made with the first six menths of 1922. During the first half of 1932, although incomes of all classes were drastically Teduced, the new business sola was over 25 per cent larger than in the same period 10 years ago. The greatest in- crease was experienced by the Middle Atlantic_section, which has the largest Volume in_force of any section of the country. This section during the first six months of 1932 paid for a volume of | new business approximately ralf sgain ! as large as in the first half of 1922. | Trimble on Governor's Staff. James Trimble. vice president of the National Bank of Washington, has been appointed a member of the staff of the Governor of Kentucky, according to an announcement, and a_commission was sent to him today by Lieut. Gov. A. B. Chandler. He now becomes a “Ken- tucky Colonel,” this being the title given the bank official with the op- pointment. He has been a close friend ©of the Governor for many years. Mr. Trimble has been an official of the National Bank of Washington for several years. Prior to identification with that bank he was a national bank examiner, and was active in the Treas- ury Department in the days of John Skelton Wiliiams. Ever since coming to Washington Mr. Trimble has kept in close touch with affairs in his native State. Many congratulations were in order today because of the distinction Just accorded him. Cemmittee Meeting Postponed. The meeting set for today of the Banking and Industrial Committee of the fifth Federal Reserve district, was postponed a week because several mem- bers in other parts of the district could not be here. This is the committee organized to work out ways of speeding up business and industrial recovery in the fifth Reserve district. Edwin C. Graham of this city is chairman, and Robert V. Fleming rep- Tesents the local banking interests on the committee Hilleary G. Hoskinson, Rigegs National Bank, is secretary. The committee has already started surveys of building prospects in the Afth district and is making other studies with a view to definite suggestions for improving conditions. Stocks May Help Upswing. ‘The slow but persistent upward movement in stocks last week and the equally sustained advance in bonds are viewed in many quarters as the begin- ning of world-wide trade recovery, but expressions to this effect are restreined, Toports Dun’s Review. “Such condi- tions in the securities market have long been looked for by seasoned traders, as experience shows they are ordinarily the forerunners of long continued im- provement,” continues the Review. “Whether the present start will lead to the general upswing in quotations depends, of course, on whether it fore- shadows improvement in general busi- James Trimble. “There is also a tendency to con- eider improvement likely on the basis of an end to deflation. Cessation of securities liquidation is in itself en- couraging in this connection, and in meny circles it is believed that other forms of deflation also are approaching their inevitable end. Such views are reflected not only in the slow advance of securities, but also in the improve- ment in the price of Stock Exchange seats.” American Stores Dividend. The American Stores Co. has de- clared the regular quarterly dividend of 50 cents a share, payable October 1 to stock of record Sepiember 15. 'I:I:e ‘Washington Gas Light Co. has deciared the regular quarterly dividend of 90 cents per share. The Treasury is asking bids for another issue of 91-day Treasury bills in the amount of $80.000.000. Tenders close July 25 and the bills will run frem July 27 The issue is intended to meet $51,000,000 in maturing issues and provide about $29,000,000 for Treas- ury needs. It is reported from Richmond that more than 80 per cent of the James River Bridge Corporation bonds bave been deposited with the Protective Committee, P. W. Hides of the com- mittee making the statement. Financial District Notes. Figures just compiled by William 8. Quinter, secretary of the Building As- sociation Council of the District of Columbia, reveal local building asso- clations in a very strong position with | total assets of $84,962,737. This is a gain in assets for the month of Junz of $557,785 and for the six months a total gain of $3,133,737, Mr. Qu:nter says Plans and entertainment program have all been completed for the firsi! Jjoint annual outing of the offrce staff and the New York Life Agents Club of the local branch of that company, to be held at Seaside Park, Chesapeake Beach, Saturday afternoon. David Samakow is chairman of the committee ‘which includes Loren L. Cluster, George W. Rothkopf, Frank J. Sobotka, Ralph Cipriano and Sidney Simon. Directors of the New Amsterdam Casuzlty Company of Baltimore, have declared the usual quarterly dividend of 50 cents a share on the capital stock, payable August 1 to stockholders of record July 26. Tobacco Warshouses to Open. ATLANTA, Ga. July 21 (P).—The State Department of Agriculture has ennounced thet Georgia tobacco ware- houses will open August 18. | All New York Markets Opera ~Prev.1932—~ High. Low. 3 [ 16% 2% 6% 119 13 13% 10 17% 18% 90 3% 8% 39% 2% 3% 89% 28% 9 2 16% FINANCIAL, THE EVENING STAR, WASHINGTON, D. C, THURSDAY, JULY 21, 1932 FINANCIAL TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE Stock and Dividend Rat 54 Abitibi Pwr & per. 1% Adams Expre: 4% Affilfated Prod 1.60.. 80% Air Reduction(t414). 7% Alaska Juneau (50c). % Alleghany Corp, % Alleg Cp pf $30 Ww. . S Alleg Cp pf $40 ww. . 42% Allled Chem & D (6). 961 Allied Chem pf (7) 5 Am Bank Note.... 28 Am Bank Note pf (3) 40 Am Brake Shpf (7).. 29% Am Can Co (16)..... 3% Am Car & Foundry. . 16 Am Car & Fdy pf (7). 330 18 AmChicle (13). 11 Am Comel Alcohol... 1 Am Encaustic Tiling. 2 Am & Foreign Pwr 28 Am & For Pwr 2d pi 5 Amé&Forgn Pw pf(T) 4% Am Hide & Leath of.. 25 Am Home Prod 4.20.. 9 AmlIce (2). 214 Am International. 1 AmLa Fr & Fom pf.. 3% Am Locomotive..... 19 Am Locomot pf (7), . 7% Am Mach&Fdy (80c) Am Pwr & Lt pf (8). Am Radiator. . Am Radiator pf (7).. Am Rolling Mills. ... Am Smelt & Ref..... Am Smeltg & Ref pf. Am Smelt & R 2d pf.. Am Steel Foundr: 12%) 2) Am Sugar pf (7). . T0% Am Tel & Teleg (9).. 40% Am Tobacco (16).... 44 AmTobacco B (16) 10% Am Type Fdrs pf Am Water Wks (2).. at W 1st pf(6). 16% Am Woolen pf....... 3 Anaconda Copper. 5% Anchor Cap (1.20). 7 Archer-Danlels (1).. 24 Armour of Del pf(7). % Afrhour of Tl (A). % Armour of Ill (B 315 Armourof 111 pf. 1 Arnold Constable. 3 Asso Dry Good 17% Atch Topeka & 8 F 35 Atchison pf (5) 9% Atlantic Coast Line. . 8% Atlantic Refining (1) 713 Atlas Powder (1).... 45'5 Atlas Powder pf (6). 28% Auburn Auto (£4). 12 Austin-Nichols A (1) 115 A tion Corp (Del). Baldwin Locomotive. Baldwin Loco pf. Baltimore & Ohio. ... Baitimore & Ohio pf. Barnsdall Corp...... Beatrice Cream (2).. Beech-Nut Pkg (3).. Bendix Aviation. Bohn Alumn & Brass. Booth Fish 1st pf. Borden Co (2). Borg Warner. Briggs Mfg Co.. Bklyn Manhat Tran. Bklyn Budd (E G) Mfg Burr'ghs A A Byers (A M) lifornia Packing. . 214 Campbell-Wyant Fy. 6 Canada Dry (1.20)... T4 Canadian Pacific 1% . 214 Capital Admin (A) 16% Case (J 1) Co 30 Case (JI) pf (7) 4% Caterpillar Trac 50c. 7% Cent Aguirre (1%4).. 2% Century Rib Mills. .. 313 Cerro de Pasco z 1% Checker Cab Mfgr... 93, Ches & Ohlo (2%)... 4% Chesapeake Corp (2). 2% Chi Great West pf... % Chi Mil StP & Pac. ... 1% Chi Mil StP & Pac pf. Chi & Northwestern Chi & Northwest pf. Chi Pneu Tool. Chi Pneu Tool p: Chi Rock 1 & Pacific.. ChiR1& Pac6% pf.. Chicasha Cotton Oil.. 5 Chrysler Corp (1). 4 City Jce&Fuel (3.60). City Stores (A) Coca Cola (8).. Colgate-Pal-Pete(1). Colg-Palm-Ppf (6).. Collins & Alkman 4% Columbia Gas (b1 1314 Columb Carbon (2) 374 Comcl Credit (50c) 40 Comcl Cred 18t(6%). 10% Comel Iny Trust (2). 313 Comel Selv (60c). ... 1% Comwlth & Sou(30c). 27% Comwlith&Sou pf (6) Congolm Nairn (1) Consol Cigar. . Consol Cigars pf(7).. 2% Consol Film pf. 31% Consol GasN Y (4).. 721 Consol Gas NY pf(5). 5 Consol Laundries(1). Consol Oil Corp. ...... Consol Ol pf (8 Cons RR of Cuba p Contl Baking pf (6).. Contl Can (2)..... Cont Insurance (1.20) Contl Motors. Contl O1l (Del) Contl Shares. Corn Products (3). 4 Corn Prod pf (7). Cream of Wht t2% Crex Carpet 4 Crosley Radio. Crown Ck &S (1. Crucible Steel pf. 1 Cuba Co 3% Cuban-Am Sugar pf.. 20 Cudany Pack (2%) 7 Curtis Publishing. % Curtiss Wright 1% Curtis Wright (A). 32 Delaware & Hud (3 81% Del Lack & Western. 1% Denver & RG W pt 54 Detroit Edison (8).., 12 Diamond Match (1).. 7% Dome Mines (11 20).. 713 Dresser M{& A (3)... 238 Drug Corp (4). E 22 Dupont de Nem (3).. 80% Dupont deN db pf(6) 87 Duques Lt 1st pf (5). 351 Eastman Kodak (5).. 104% Eastman Kod pf (6). 812 Elec Auto-L (1.20)... % Electric Boat 7% Elec&Musical 2% Elec Pwr & Lt. 10% Elec Pwr & Lt p! g 12% Elec Storage Bat (3). 8% Elec Pwr & Lt pf(6). 16 Endicott-Johnson(3) 16 Eng Pub Sve pf (5) 2% Erie RR 1stpf. 9% Exchange Buf (25¢). 3 Fed Wat Service A 6 Fidelity-Phoen 1.20. ., 10% Firestone T& R (1).. 45 Firestone T&R pf(6). 35 First Natl Strs (213). 2 Follansbee Bros. .... 3 Foster-Wheeler..... 10% Fourth Nat Inv 1.20. 1 FoxFilm (A) 10 Freeport-Texas (2).. 9% Gen Am Tank Car(1). 4% Gen Asphait (1)..... 10% Gen Baking (2) 90 Gen Baking pf (8). % Gen Bronze...... 1% Gen Cable (A). 3% Gen Cable pf. 20 Gen Cigar (4) 815 Gen Electric (40c)... 10% Gen Elec spec (§0c).. 19% Gen Foods (2). . 3 Gen & Elec (A).. 5% Gen Gas & ElecA(7). 18% Gen Ital Edis (2.06).. 28 Gen Mills (3). % Gen Motors (1)...... 56% Gen Motors pf (5). 1 Gen Public Service 6% Gen Rwy Signal (1). 808 90s 277 10 . & s [TSY - FPTOT- OIS TS % on Daylight Sa Time.| ~Prev.1982 Stock and “::m— ot ving, Ne High. Lo Dividend Rate. 1% f Ra: ] af Rpt (5). % Gimbel Bros . + 4+ Frise ® giEE |4+t 9% 8% Grand Union. S 36% 22 Grand Union pf (3).. 25 5% Great Northern pf... 17 8% Great Western Sug. . 1% % Grigsby Grunow 2% % Hahn Dept Store: 88 43% Hershey Choc (6). 83 57 Hershey Choc pft 181% 110 Homestake Min (9). 4 1 Houd: e Hershey . 8% Houston Oil. 1% Houston Oil . 8 Hudson & Man (3%). 2% Hudson Motor Car 1% Hupp Motors...... 8% 4% Illinois Central. 26% 9% Illinois Central pf... 16% lllinois Cent 11 (4).. T4 Industrial Rayon (2) 14% Ingersoll Rand (3).. 2% Interboro Rap Trans 1% Interlake Iron. . 62% Int Bus Machine(né) 1% Int Carriers Ltd 20c. 3% Int Cement. % int Combustion . 10% Int Harvester (1 2% Int Hydro-Elec (A) % Int Merchant Marine. 84 Int Nickel of.Can. ... 2 Int Paper & Pwr pf.. 4 Int Printing Ink 20% Int Shoe (3) .. 26 IntStiver pf (4) 2% Int Tele & Teleg 1% Interstate Dept St 26%a 10 Johns-Manville. 99% 48 Johns-Manvpf(7).. { 84 30 Jones& Laugh pf(4) 18% 2% Kansas City Southn. 4% Kayser (J) & Co 34 Kelly Spring Tir, % Kelly-Spring ctf: 2% Kelvinator Corp. 18% Kendall Co pf (6). 4% Kennecott Copper... 3 Kinney (G R) Co pf 6% Kresge (S§) Co (1).. 110 88 Kresge (S8) pf (7).. 18% 10 Kroger Grocery (1).. 48 40 Laclede Gas pf (5).. 56% 25 LambertCo (15).... 6% 3% Leh Port Cement.... 1 Lehigh Valley Coal. 30% Lehman Corp (2.40) 6 Lehn& Fink (2)..... 32 Liggett & Myers(15). 34 Ligg & Myers B (15). 64 Link Belt (80c)..... 9 Liquid Carbonic (1). 18% Loew's, Inc (t4). .. 16% Loose-Wiles Bis (2). 9 Lorillard (P) (1.20).. % Louislana Oi . 715 Louisville & Nash 20 McCror; trs pf (6) 13 Mcintyre Pore 1% - 28 McKeesport T P (4). 1% McKesson & Robbins 3% McKesson & Robs pf. % McLellan Stores. ... 10 Mack Trucks (1). 17 Macy (HR) (n2). 24 Madison Sq Garde: Manhat Elev gtd ( Manhat Elev mod gtd Marine Midld (80c).. Market Street Ry . . Marshall Field & Co.. Mathieson Alk (134). May Dept Stores 1.80 Melville Shoe (1.20). Mengel Co Mid Continent Petm. Midland Steel Prod. . % Minn Moiine Pow Mo Kan & Texas 4 Mo Kan & Texas pf. Missour! Pacific. . Missouri Pacific pf. Mohawk Carpet. Monsanto Chem 1 Montgomery Ward. Motor Products (2) Muilins Mfg Murr: ¢ Nat Dist Prod (2).. Nat Lead pf A (7 NatPwr& Lt (1). Nat Steel (1). Nat Surety. . eisner Brother: vada Con Copper. Y Air Brake Y Central. . Y Chicago & St L. Y Chi& St L pf. Y N H & Hartfo! Y N H & Hart pf. Y Ont & Western. NY Steam pf (6).... N Y Steam 1st pf(7). Noranda Min (a50c) . 7 Norfolk & West (8).. North Am Aviation Nor Amer(b10 % stk). North Amer pf (3). orthern Pacific 5 Ohlo Ofl (a20c). 11 Omnibus Corp 3% Orpheum Circuit pf. 9 Otis Elevator (1%3).. 90 Otis Elev pf (6)..... 34 Otis Steel pr pf 16% Pacific Gas & El (2) 20% Pacific Lighting (3).. 1% Packard Motor Car. . 6 PanAm Peten (1)... 7% Pan Am Pete Bn(1) Paramount Publix Pathe Exchange. . Pathe Exchange (A). Penick & Ford (1)... Penney (J C) (2.40) . Penney (JC) pf A (6) 4 Penn Dixie Cement. .. Penn Dixie Cmt pt Penna Raflroad. ... .. Peoples Gas Chi (5). 3 Pere Marquette pf. .. FHAE L A FEREELEEFELEES +4++ FES ¥ s E s L4+ o seex"sFx sssd 4 AL+ P44+ 9 P & FE £ w2 FEEFTFTEE EFEL ¥ Petrol Corp of Am... Phelps Dodge. . .. ... Phila & Read C & I Philip Morris&Co(1). Phillips Petroleum. Plerce Oil, Pierce Oil p! Plerce Petrol. Pitts Coal pt Pitts Steel pf Pitts Terminal Coal. Pitts Term Coal pf. .. Postal Tel&Cable pf. Prairie Pipe Line. Pressed Steel Car. Proctor & Gamble(2) Proct & Gamb pf (5). Public Sve N J(3.20). Public Sve NJ pt (5). 71% Public Sve NJ pf (6). 924 Public Sve NJ pf (7) 10% Pullman Corp (3). 5% 2% PureOil. 16% 4% Purity Bakerles (1 10% Radio Corp. 32% Radi Corp pf (A). Radio Corp pf B. ... Radlo-Keith-Orph RR Sec I11 Cent St % Real Silk Hoslery.... Real Silk Hosfery pf. Remington-Rand. Gl e e 5 Republic Steel pf. 5% Reynolds Met (1%) 65 Reynolds Tob A (3). 261% Reynolds Tob B (3). % Richfield Oil. 60 Safeway Strs pf (6). 69 Safeway Strs pf (7). 4% St Joseph Lead. 5 % St L-San Francisco.. 1 StL-SanFranpf.... % Seaboard Air Line. .. 6% Seaboard Oil Del 40c. 9% Sears Roebuck. . 1'% Servel Inc... 1% Sharon Steel Hoop. . 1% Sharp & Dohme. .. 12% Sharp &Dohme pf(2) § Shattuck (FH) 50c... ITHel+41++ + $ BEEEFEFESE + 308 142 3 59 1808 6508 AneRaoNma S —a < 2eRa o » =3 MeRerunmBRode Pere Marquette pr pf 130s 26 7 D o S S Sy R L 14 + ¥ FFSEESEFEEES ExFe EEE Fii§ Tt > & & & ‘g oy Pttt b4+ AP e 41+ T T vl s8ee e P - W = i EFFEF FrFFsr & FFEFIEFF S *" grgs FEF £ FEIF IS Stock and Bales— ‘Add 00. High. 4% 4 s;v. 33% B 19% Skelly Ol pf ww. 4% Snider Packing pf. 6% Socony-Vac (80¢) 35 Solv Am pf ww(5%). 35% # 41 South Port Rico Sug. 20 11% 10% % 103% 31 861 So Port Ric S pf(8).. 15% Southern Cal Ed(2) 20% 64 Southern Pacific. .. Southern Rallway Southern Railway Stand Brands (1.20). Stand Gas & Elec (2) Stand Gas&El pf (4). Stand Gas&El pf (6). Stand Gas&El pf (7). Stand Oil Calif (2).. Stand Ol Kansas. . Stand Oil N J (12) Sterling Secur cv pf. Stewart Warner 4% Stone & Webster. Studebaker Corp. Studebaker pf (7) % Symington (A). Telautog raph (1) Tennessee Corp 4 Texas Corp (1). Tex Gulf Sulph (2). 4 Tex Pacific Coal&Oll. Tex Pacific Land Tr Third Avenue. Third Natl Inv (1) . Tide Water Asso Ofl. Tide Water As pf (6) Tide Wat Oil(a50¢). . Timken Roll B 1%. Transamerica Corp Tri-Contl Corp. Union Pacific pf (4) Unit Alrcraft. ... Unit Afreraft pf ( Unit Biscult (2 Unit Cigar Stores Unit Corp (40c) Unit Corp pf (3). Unit Electric Coal... Unit Fruit (2).. Unit Gas&Im (1.20) U S & Forn Sec pf U S Gypsum (1.60).. ~Prev. 1932~ , High. ' Low. 4% 37 31% T% U S Pipe il 18% 11% US Pipe 9% 2 1% Uil Pwr 39% 20 West Pa West Pa Western Western Western Western R A R I FEFFFHESFESSE ] Touns 1T 4 U S Realty & Imp 1% US Rubber. ... 3% U S Rubber 1st pf. .. U S Smtg&Ref pf 3% 21% USSteel........... 1% US Steel pf (7). 27 Unit Stores pt (3% ) Westinghouse Elec vestvaco Chlor (1) White Motor White Rock M S (2). White Sew Mch pf. Wilcox Ofl & Ga: Willys-Overland Wilson & Co (A 45 Woolworth (2.40)... 155\ Worthington Pump. . 57 25% Wrigiey (Wm) (3).. Youn:stown Sh&Tu. Stock. and Dividend Rate. 13% U S Indus Alcohol 1% US Leather 4 b% T4 3% US Leather 19% 15% & Fdry ( 1st (1.20).. I+ 4+ 444141 +4 FEFFIISEFEFT & Lt (A). % Vadsco Sales Corp.. 5% Vanadium Corp. 15%: Van Raalte 1st pf. .. 7 £ Va-Car C| 29% 7% Vulean Detinning... +8l —_— “a Wabash R R 1 Wabash pf (A). "% Wabash pf (B). % Ward Baking (B) ¥ Warn Bros Pictures %2 Warner Quinlan. Warren Bros. .. 1 Warren Bros cv pf. 5 Warren Found & P. . Wesson Oi) & Sn (1), Wesson O&Sn pf (4). % 44+ hem 7% 1. + % Pwr pf (6). Pwr pf (7). Maryland. . Md 2d pf... Pacific pf. Union. .. Loesmen TN B S S-Tor ey pring& W (1) 6w 9% 4% Zonite Products(60c) 3 5 10:30 AM. 1:30 P.M. Dividend Sales of Stocks on New York Exchange. 100.000 500,000 00 Noon. 300,000 600,000 ates as given in the above tables are the annuas o | cash Diyments based on the latest quarterly or half-yearly decia- | Fations ng % | Atock. ¢ Payable i ca 2 | n stock. | Plus §1 in in serip. : Ex-dividen: cas . speci i lets than 100 shares. Plus this year—no_reg: b Payable in h or ctock. f{Plus 8% in stock. b Plus 25 3% in stock. lus 6% 1n stock. D Payabie tPartly extra. ar rate. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, July 21.—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 & Publishing. Curtis Publiching common share earn- ings. six month ended June 30, $1.02 vs. $2.54 Building, Real Estate & Related Lines. Missouri Portland Cement Co. marked up price of cement 30 cents a barrel to $1.15. North American cement deficit. 12 mcnths ended June 30, 1932, $675,488. Stone & Webster Inc., passed guar- 12!, cents May 16 common share ('m’x‘lmgs, 6 months ended June 30, 35 cents. Chemicals and Fertilizers. Commercial Solvents Corporation common share earnings. 6 months ended June 30, 23 cents vs. 47 cents Consolidated Chemical Industries Class B share earnings, 6 months end- ed June 30. 4 cents vs. 84 cents Texas Guif Sulphur common share earnings, 6 months ended June 30, $1.22 vs. $1.73. Fcod Products. Beechnut Packing common share carnings, six months ended June 30, $2.19 vs. $2.63. Coca Cola International Corporation common share earnings, six months ended June 30. $8.04 vs. $8.02. International Salt Co. common share earnings, six months ended June 30, 73 cents vs. $1.47. Household Products. Congoleum-Nairn, Inc., common share earnings, six months ended June 30, 26 cents vs. 42 cents. Investment Trusts. Prudential Investors, Inc.. net asset value as of June 30, $1.45 per common share vs. $5.19 December 31, 1931, and $13.74 June 30, 1931. Machinery. American Meter Co. omitted quar- terly dividend on common stock; paid 25 cents April 30. Metals (Non-ferrous). Copper Exporters, Inc., cut price on special offerings to 4.7 cents a pound cif Europeen base poris: producers have made cofferings at 4.55 cents a pound. Miscellaneous. Dresser (S. R.) Mfg, Co, class A share earnings, six months ended June 30, 55 cents vs. $4.12. Pitney Bowes Postage Meter com- mon share earnings, six months cnded June 30, estimated at 15 cents vs. 12 cents. Southern Corporation declared a divi- | dend of 10 cents on common stock; paid 20 cents September 5, 1931. Railroad and Railroad Equipment. New York, Chicago & St. Louis Rail- road deficit, six months ended June 30, $2,501,930 vs. net income, $1,038.584. Union Pacific Railrcad—It is esti- mated saving from integration of four system units of company would amount to $600,000 yearly. Steel and Iron. Ohio Seamless Tube deficit, six months ended June 30, $101,962 vs. defi- cit, $61,694. Theaters, Etc. Loew’s Inc., common share earnings, 40 weeks ended June 3, $4.37 vs. $6.04 in 40 weeks ended June 5, 1931. Utilities. Brazilian Traction, Light & Power Co. Ltd., June gross of subsidiary companies PROPERTY Apartment House MANAGEMENT Japanese | MANAGEMENT off 164 per cent, net before deprecia- | ticn and amortization off 19 per cent; | six months gross off 17.6 per cent, net | off 21.2 per cent. | New Ycrk & Richmond Gas Co. pre- | ferred share earnings, 12 months ended | June 30, $20.84. | San Joaquin Light & Power net in- come, six months ended June 30, $194,- 692 vs. $961,222. Southern Colorado Power Co. omitted quarterly divicend on class A common steck; paid 25 cents May 25. | Building, Real Estate and Related Lines. United States R & Improvement | deficit before subsidiary preferred divi- | dends, six months ended June 30, 1932, | $361,486 vs. net income $637,882. Household Products. Congoleum-Nairn Inc.. spent $425.- 626 in acquisition of own securities in first six months. Investment Trusts. United Founders Corporation net as- set value May 31, 1932, 52 cents a com- mon share vs. $2.24 November 30, 1931 U lity & Industrial Corporation passed quarterly dividend on preference stock; paid 37!, cents May 20. Leather and Shox Amalgamated Leather C preferred share earnings, six montnhs ended June 30, 1932, 31 cents vs 76 cents. | 2gain quoted at 1 per cent. SHARP COMMODITY PRICE GAIN NOTED IN WEEK e Associated Press. holesale commodity prices scored a sharp rise during the week ended July 16, as the change was noted from a list selécted by the Commerce Depart- thent. In the table that follows the index is given for comparable periods, based on representing 1926 prices as 100. In oddition, the price for a ton oi compesi.e steel products is given for | like periods All Com- ‘modities. Week ended July 16... 60.2 Previous week. .. . 5956 Same week last year... 69.8 Steel. MONEY MARKET. NEW YORK, July 21 (#.—The money market ruled unchanged today. Call money on the stock exchange held over at the 2 per cent rate, and time money continued at 1!, per cent for all maturities. Outside call money was The bank- | ers’ acceptance market was quiet with Medicines. Lambert Co. common share earnings. | six months ended June 30, 1932, $343 | vs. $4.77. | Metals (Non-ferrous). | McIntyre Porcupine Mines, Ltd.. com- mon share earnings, quarter ended June 39, 1932, 70 cents vs. 51 cents. Miscellaneous. Kendall Co. preferred share earnings, 24 weeks ended June 11, 1932, 48 cents Vs. $6.39 in 24 weeks ended June 13, 1931. Retail Trade. American Stores June sales off 8.7 per cent; 6 months, off 13.9 per cent. First National Stores, Inc., buy Clo- | verdale chain, which cperates 277 stores and markets in four New England States. | Shipping and Shipbuilding. Atlantic, Gulf & West Indies Steam- ship Lines abandons Baltimore-Bermuda passenger service because of lack of business. Textiles. Interstate Hosiery Mills took no ac- tion on dividend ordinarily to be paid August 15; paid 40 cents February 15. | | Utilities, | Cities Service Co. June gross revenue | was up 4.1 per cent. met before re- serves increased by 36.2 per cent: 12| months gross was off 24.8 per cent, net before reserves declined by 41.8 per cent; common stockholders as of June 15, totaled 535,920; Kansas commission | orders payment of lower gas rates by | distributing companies; reduction | amounts to about 26 per cent and will | save consumers around $928,000 an- | nually. | | Sees Hopeful Prospect. | NEW YORK, July 21 (®—F. W.| | Sargent, president of Chicago and | Northwestern Railway, says the North- | west, by means of good crops, pulled | | the country out of two previous depres- | sions “and might bring about the turn toward prosperity this time.” Pointing | to the large crops in that territory this | | season, he believes that if the farmers | | can get satisfactory prices “the depres- | sion ‘is broken in the Northwest.” —_— California Oil Production. NEW YORK, July 21 (#)—Daily average crude oil production in Cali- fornia for June was 470,632 barrels, compared with 502,443 barrels in May, | according to the American Petroleum“ | Institute. | Coast markef I were 169,432058 barrels, a_decrease of Stocks held by all Pacific | g companies on June 30 2,316,903 barrels from the previous month. WE bring to the manage- ment of apartment house properties committed to our care the service of a thor- | Cepenhsgen | Chicago Rock Cle rates unchanged. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nomina! gold Seilin chock: today London. pound Paric, franc Biuseeir. peiga Berlin, mark peseta .. schilling 2:9613¢ i9.21¢ 17.35¢ 18:20¢ crown Oslo. crown Stockholm. erown Mentreal. 1337, ditcount. —_— U. S. TREASURY CERTIFICATES ported by Chas D Barney & Co) 3 100 15-32 . 101 30-32 100 31-32 SHORT-TERM SECURITIES. epor s. arney & Co (Reported by Chas. D. Barney & Cerer Allis-Chalmers Co_ 5s 1937 9L o8 American Chain Co "6s 1933 = 41 American Te.. & Tel $'is 1943 Amer. Wat. Wks. & EI. 5s 1934 Baltimore & Ohio 4'2s 1933 Belding Hemingway Co. 6s 1936 Bethiehem Steel Corp. 5s 1936 Canadian Nor. Rwy. 4is 1935 Chi. Northwestern R R. 85 1933 Island 45 1934 leve. Lor. ling 5s 1933 o & So. Rwy 41ss 18 | Denver & Rio Grande 4'as Gen Mot Accep. Corp. Gs General Petroleum Corp. 55 Generai Public Service 5'2s Grand Trunk of Canada fs Houston E. & W. Texas 55 Keystone Telephone Co. 5s 1935 Laclede Gas Lisht Co. 5s 1934 Louisville & Nashville Ss 1937. New York Cent & H. 4s 1934 New York. Chi._& St. L. 6s 1932 Northwestern Telep. 472s 1034. Penna R. R. Co 6las 1936...... Portland General Elec. §s 103 Republic Iron & Steel 5s 194 Sinclair Crude Oil Co. 5}3s 19 Southern Pacific_S5s 1934 St. L. LMS. Ry. R &G. 51 Union Elec. Lt. & Pow. 55 1933 101% Union Oil Co. of Calif. 5s 82'4 Virginia Rwy. & Power 35 s v1 Wabash Rwy. Co. 55 1939 591 ADVANCE I STOCK MARKET RESUNES Rail Shares Featured on Up- side, But Gains Are General. BY GEORGE T. HUGHES. Special Dispatch to The Star. | NEW YORK, July 21.—With the rail- 1 | T0ad shares as the leaders in the first part of the session and the oils taking | the same place in the second half, to- | day’s stock market forged slowly ahead lto a new high on the present recovery. Except in a few preferred stocks | there were no large gains, but the ac- | tion of prices on the tape was very | impressive. In the stocks showing ac- | tivity the advance was uniform end maintzained to the end, with the high prices made in the last hour. Among | the features were the buying in Union Pacific, said to be for foreign account, and the new high for the year in At- | lantic Refining. Tobacco stocks, food shares, mining | issues and various specialties were in demand at intervals. The utilities were neglected and standard industrials, while slightly higher, did not figure as prominently as usual. It was a market in which the advance depended upon new leaders. For the strength in the rails the commonly accepted explanation was the determination of the executives, as re- vealed in their published statements, to restrict competition among them- selves. There may have bcen other reasons. but they were not apparent. The buying was deliberate and origi- nated in the preferred issues, which | gave it the semblance of investment accumnlation. The two preferred stocks most promi- | nent were Atchison and Union Pacific. ‘The former was up over four points and | the latter more than three points during the first two hours. Both still gave | extraordinarily high ylelds, Atchison | more than 10 per cent and the Union Pacific more than 8 per cent, but they | gave much more than that at their Tecent lows. | "0t ‘the common stocks, Union Pacific | made a new high for the recovery, | while gains were recorded by Delaware & Hudson, Norfolk & Western and Louisville & Nashville, the last ordi- narily very inactive. Buying in Louis- ville & Nashville, the Street heard, was for financial institutions. ° Industrials were irregular through- out:the forenoon, but never weak. This was true of the standard issues such as Allied Chemical, American Can and United States Stcel. Speculation for the rise concerned itself with special- |ties. Vulcan Detinning was bid up. International Cement advanced on_the bigher prices for the commodity. Con- tinental Baking preferred was in de- mand a point or so higher. American Sugar preferred jumped over 3 points, again illustrating the search for high yielding investment issues. While the market acted well, it failed to ccnvince the large bear interest still with short contracts outstanding. They argued that there w:s no justification for higher prices in the trade outlook. They belittled the statement of the rail- way executives. They ‘viewed with alarm” the developments in Germany, a'thorgh the bend market seemed to have recovered from its frisht. They pointed to the ccntinued depressi'n in commodities, instancing whe-t and cot- The answer was that the market hese things into account led that the price level was inviting. CHICAGO STOCK MARKET CHICAGO, July 21 (#) —Following is th» compieie offictal st of iransac- ticns 1 siocks on the Chicago Stock Ex-hange today 50 Craze Co 350 Foote Bros x 600 Great Lakes Dredge 200 Houa: 3 00 H 50 130 Lynch Corp 30 Marshall_Field 100 McWill Dredge 100 Mid West Util 100 Na: El Pow A 150 N Pack Frocks T Stl Cast Bend sales today. $7.000. BALTIMORE STOCKS. Special Dispatch to The Star. BALTIMORE, July 21.— Sales STOCKS. 12 ArundelCorporation .. 18% C & P Telephone Balto pfd.... . 110%, onsolidated Gas com. ... 43' 10 Fidelity & Guar Pire Corp. 7 24 Fidelity & Deposit Co.. pid ryland Casualty Co 7 Northern Cent R R com.. 1Pa_Water & Power 52U S Fidelity & Guaranty. BONDS. Last sales. $1,000 Maryland Eiectric Rwy 6'2s, 15,000 United Rwy & Elec 1st 4s. NOTES S ® Certain ® Never a deviation oughly organized department, with personnel experienced in every feature and phase of the work — which insures satis- factory results. Your interested inquiry is invited. B. F. SAUL CO. 925 15th St. N.W. MORTGA NAtl. 2100 GE LOANS 1001 Fifteenth Street MORTGAGE @ Consistent earnings ® A liberal return with principal oundly secured income from the factors of safety that protect your investment Permit us to offer our facilities for the placing of your investment funds H. L. Rust Company National 8109 Established 1889 Member of the Washington Real Estate Board - =