Evening Star Newspaper, July 25, 1932, Page 10

Fia—10 wew FINANCIAL. THE EVENING STAR, WASHINGTON, D. C., MONDAY, JULY 25, 1932. FINANC D.C.RETAIL SALES || @ TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE ' OFF DURING JUNE Better Than in Other Fifth! District Cities, Says Rich- rmond Report. BY EDWARD C. STONE. Sales in Weashington department stores in June were reported today as 19 per cent lower in dollar volume than in June, 1931, but ahead of the aver- ege for the Fifth Federal Rescrve dis- trict, in which sales were down 22. per cent. Ths Federal Reserve Bank of Rich- mond reported that sales for the first half-year in the National Cepital were 149 per cent lower than in the first helf of 1931 and 18.4 per cent lower in the whole Fifth Rescrve district. Department store sales in June, in Richmond, were off 24.1 per cent, in Baltimore, 24.6 per_cent, and in a group of other cities 30 8 per cent. these figures leaving Washington in an en- viable pesition. For six months, how- ever, Ri-hmond made a better showing than Washington, sales being off but 14.1 per cent 5 For the half-year period sales in Baltimere were off 19.9 per cent, cm- pared with the corresponding months a year ago. For the district as a whole, rolail trode was 18 per cent lower and for a group of other cities, not already mentioned, sales were down 25 per cent, the Richmond Bank repo i Stocks on the shelves of lhe_xeuml; ing stcres on June 30, 193 totaled 11.2 per cent less, at retail selling value, than stocks on June 30, 1931, and alsd showed a decline of 3.1 per cent since May 31 this year. Stocks were turned 2n average of 299 times during the month of June and since January 1 5.02ks have been turned an average of " 744 times. a lower figure during the times ftocks were turned during the s of 1931, B e ous in 32 of the 33 report- ing stores averaged 25.6 per cent of re- cefvables cutstanding on June 1, & Jower percentage of receivables colle(‘t; ed during the month than 28.7 per ccnd collected in June, 1931, the Richmon Bank says. Loft Reports Sales Increase. t, Inc., increased its expenditure fc}‘:'liewspaper space during the first six months of 1932 by 35 per cent over the seme period of 1931, resulting in an in- erease in customers for the siz-month pericd of 1,347,636 5 for June, 1932, totaled $1,019. sa?..o‘f.s an increase of $47,755.71—4.91 per cent. 3 = first six months of 1932 e Lot TS 10551, an increase of 2,916.07—7.5 per cent. g “'sl'h 1932 increase in sales is & gain over & gain, For the first six months of 1931 Loft showed an increase in sales of 71.54 per cent over the same pericd of 1930. Local Beard Rooms More Active. t in the New York stock mar- kef,ng:suinneued very rapidly during the past few days. The atmosphere in tha local board rooms was much differ- ent today, as traders and investors watched the strong openmg‘and the rapidity with which the quoiations came along afterward. The advances over the week end caused much comment, but tomorrow's meeting of the directors of the United States Steel Corporation secemed to draw the most attention. Action on the preferred dividend, of course, i5 the b:g issue to be settled. The number of holders of United States Steel Corporation commcn as of the end of June, 1932, indicates a con- tinuation of invesim:nt buying in small quantities, says today’s Wall Street Journal. This trend has been unbroken for the past few years cespite the steady decline in the price of the stocx. The number of steckholders at the end of last month stcod at 190,024, a new high Tecord. There was a s'ight increase in the amount-of stock held in brokers’ hands during the pest guarter. No particular significance can be attached to this, since it has occurred before without having any appreciable effect upon the long-term price movements of the stock. Any decline in the number of share- holders would suggzst accumulation of large blocks in fewer hands, a develop- ment which in the past ascompanied zising prices, the journal corxments. Today’s Trading on Exchange. ‘Washington Gas Light 6s, scries A, opened the week's business on the ‘Washington Stock Exchange, $500 sell- ing at 981;. Later a baby bond sold at 98%. A small lot of Pctomac Elec- tric Powbr 512 per cent preferred stock appeared on the board at 102. The stock now being quoted ex-dividead on the Exchange are Capital Traction, Washington Loan & Trust and two insurance stocks. While trading was slow _on the local board, members of the Exchange manifested wide interest in the pick-up in New York. Should the present advance hold, the change would bz reflected on_the Washington Exchange in a short time. - New York City bank stocks, in which there is so much local interest, ad- vanced over 3 per cent in value dur- ing the past week, based upon the aver- ages compiled by Hoit, Rose & Troster. The aggregate value of 16 leading New York City bank stocks at July 22 clos- ing prices amounted to $1,170,427,000, against an aggregate value of $1,132,- 835,000 on July 15, and a total of $929,- 895,000. reported on May 31, which was the lowest toial recorded since the 1929 decline started ‘The average yield of the 16 stocks on July 22 was 9.89 per cent, which com- pared with an average yield of 10.21 per cent recorded at the close of the previous week and a record yield of 13.24 per cent on May 31. $650,000,000 Treasury Offering. The Treasury is offering for subscrip- tion $650,000,000 Treasury notes in two series, both running from August 1. One series of $325,000,000 is for two years with interest at 2! per cent and the other is also for $325,000,000 to ma- ture in four years with interest at 3!4 per cent “Outstandlig certificates of indebted- ness in the amount of $227,631,000 are due on August 1, 1932,” Secretary Mills said. “The new offering will provide funds for this maturity and also to meet current financial requirements, prin- cipally from the Reconstruction Finance Corporation.” Call for Installment Payment. Call for payment on August 22 of a 95-cent instaliment on each $5 principal amount of 10-year 6 per cent debentures of Radio-Keith-Orpneum Corperation has been made to holders of record as of August 6 instead of July 23, as pre- viously fixed. An interest payment from June 1 to August 22 of 1 cent for each $5 principal amount will be due at the same time. TU. S. TREASURY BALANCE. By the Associated Press. Treasury receipts for July 22 were $3,971,548.79; expenditures, 6,931, 059.95; balance, $178,655805.17; cus- toms duties for 22 days of July, $13,- 204,131.66. Bar Silver Quiet. LONDON, July 25 (#).—Bar silver quiet and one-sixteenth lower at 17d. T. 8. TREASURY CERTIFICATES (Reported by Chas. D. Barney & Co.) Rate—Maturity Bid. tas Aug 1032 19320 ENERRRCRRGR 1 v.1932— 1% 4 474 129% % 21 134 9% T 64 2 10% 27% 15% 591 63 Stock and Dividend Rate. Adams Express Addressograph . 4% Affiliated Prod 1.60 30% Air Reduction(t4%). _J& Airway Elec Appl. - B 5% Allegheny Steel. ... . 423 Allled Chem & D (6)., 9613 Allled Chem pf (7)... 4 Allis-Chalmers Mfg., Alpha Port Cement Amal Leather pf. Amerada Corp (2). Am Agri Chem(Del Am Bank Note. . ‘Am Bank Note pf Am Brake Sh&F (60c) Am Brake Sh pt (7). Am Can Co (15). Am Can Co pf (7) Am Car & Foundry. .. Am Car & Fdy pf (7). Am Chain. . 5 AmChicle (3). Am Comel Alcohol. Am & Foreign Pwr Am&Forgn Pw pf( Am & For Pwr 2d pf., Am Hide & Leather. Am Hide & Leath pf.., Am Home Prod 4.20. Am lce (2). Am International. Am Locomotive. Am Mach&Fdy (80¢) . Am Metal Co. . Am Pwr & Lt (1) Am P & Lt pf A (5) Am Pwr & Lt pf (6).; Am Radiator. . ‘Am Radiator pf ( Low. 1% 9% Am Ship & Com. Am Smelt & Ref. .. Am Smelt & R 2d pf. Am Snuft (13%). Am Steel Foundry Am Steel Fdry pt Am Sugar (2 Am Sugar pf (7). Am Sum: Tob Am Tel & Teleg (¥). Am Tobacco (16) AmTubacco B (16) Am Tobacco pf (6) Am Type Founders, Am Type Fdrs pf. Am Water Wks ( Am Wat W 1st pf(6). Am Wat Wks cfs(2) . Am Woolen. . Am Woolen pf. Am Zinc & Lead. Anaconda Copper=.. 4 Anchor Cap (1.20). Anchor Cap pf (632) . Archer-Daniels (1) Archer-Dan pf (7)... Armour of 11l (A). Armour of Il (B)..., Armourof 1l pf..... Artloom pf.. . Associated Apparel.. Asso Dry Goods. " Atch Topeka & 8 F Atchison pt (5).. Atlantic Coast Line, Atl Gulf&West Ind. . Atl Gulf&W Ind pf.. Atlantic Refining ( Atlas Powder (1) Atlas Tack. ... Auburn Auto (f4).... Austin-N! tion Corp (Del). Baldwin Locomotive. Baldwin Loco pf Baltimore & Oh Baltimore & Ohio pf., Bamberger pf (6%) .. 914 Bangor&Arostk (2).. 3% Barnsdall Corp...... 16% Beatrice Cream (2) 4) Bendix Aviation. 5% Best & Co 7% Bethichem Steel. . 5% Bethlehem Stl pt (7). Bohn Alumn & Brass, Borden Co (2). Borg Warner. Boston & Ma Brigks Mfg Co. BKlyn Manhat Tran., BKly Brown Shoe (3) Bucyrus-Erie Budd Wheel Bullard Co. Burns Bros (A) . 4 Burr'ghs A M (80c).. Bush Terminal e Bush Term deb Bush Terminal pr( Byers (A M) 4% California Packing 114 Calumet & Hecla. 6 Canada Dry (1.20)... Canadian Pacific 1% . Caterpillar Cent Aguirre (1%).. Century Rib Mills. Cerro de Pasco. Ches & Ohio (2%).. ., Chesapeake Corp (). Cni Chi Mil StP & Pac Chi Mil StP & Pac pf. Chi & Northwestern.. Chi & Nopthwest pf.. Chi Pneu Tool...... Chi Pneu Tool pf. Ch! Rock 1 & Pacific Chi R 1 & Pac 6% pi Chi R 1& Pac 7% pi Chrysier Corp (1) City Ice&Fuel (3.60). City Stores. . Cluett Peabdy pe(7).. a (18).... ate-Pal-Pete(1) . -Palm-P pt (6) .. Collins & Atkman. ... Colo Fuel & Iron. Columbia Gas (b1). Col Gas&EIpt A (6) ., Columbia Pic cifs. ... Columb Carbon (2) Comel Credit (50¢) Comel Inv Trust (2 Comel Inv Tr pf 6 “omel Solv (60c).. mwlth & Sou(30¢) . Comwlth&Sou pf (6). Congolm Nairn (1). . Consol Cigar.... Consol Cgr pr pf 6% . x60i Consol Laundries( Consol Oil Corp. . Consol Oil pf (8) Cons RR of Cuba pt.. Contl Baking (A).... Coatl Baking pt (6).. Contl Can (2) Cont Diamond Fibre., Cont Insurance(1.20) Contl Motors Contl 011 (Del) % Corn Products ( Corn Prod pf (7 Cream of Wht t Crown Ck & S ( Crucible Steel. Crucible Steel pf. Cuban-Am Sugar Cudany Pack (2%). Curtis Publishing. % Curtiss Wright 135 Curtis Wright (A T Davison Chemical. 6% Deere & Co pf (40c)., 32 Delaware & Hud (9),, 815 Del Lack & Western. 54 Detroit Edison (8)... 714 Domeo Mines (11.20). 5 Dresser Mfg A (3)... 28 Drug Corp (4). . 1 Dunhill Internatl. ..., 22 Dupontde Nem (3). .. 80% Dupont deN db pf(6), 87 _Duques Lt 1st pf (5). 35% Eastman Kodak (5)., 813 Elec Auto-L (1.20) 13 Electric Boat..... 7% Elec&Musical Instru, ec Pwr & Lt. . % Elec Pwr & Lt pf, 10% Elec Pwr & Lt pf (7). 12% Elec Storage Bat (3). 16 Eng Pub Sve pf (5).. 25 Eng Pub Sve pt (6).. 2% Erie RR 1st pf. . 2 ErleRR2dpt. . 17 Fashion Park As pf.. 30 Fed Lt & Trac pf (6). 15 Federal Screw Wks. 3 Fed Wat Service A 6 Fidelity-Phoen 1.20.. 10% Firestone T& R (1).. 45 Fi T&R pt(6). 35 First Natl Strs (23), Sales— Add 0o. High. ichols A (1) 100s 21 . & PECPETPU - —%- 5 e w® 10s 49 1 6 30s bt 3z Net. Low. Close. Chye. 2% 2% 4t +4++ 1+ Skttt 4 + % +1% +1% +% 2% +1 ~Prev. 1932~ Hish 211 5% 25% 993 84 82% Stock and Low. Dividend Rate. 14 Fisk Rubber. 3 Foster-Wheel 1 FoundationCo......; 10% Fourth Nat Inv 1.20., Fox Film (A). 13 Gen Am Investors... 26 Gen AmInvpfww... 914 Gen Am Tank Car(1), 4% Gen Asphalt (1). . 10 Gen Baking (2) 90 Gen Baking pf (8). 1% Gen Cable (A). 3% Gen Cable pf. ... 20 GenCigar (4). 8% Gen Electric (40c)... 10% Gen Elec spec (60¢).. 19% Gen Foods (2).. * Gen Gas & Elec (A).. 5% GenG& Epf A (p7 Gen G & E pf A (p8) Gen Mills (3) Gen Mills pf (6). Gen Motors (1) % Gen Motors pf (5). Gen Public Service Gen Rwy Signal (1). s Gen Realty & Util. Gen Refractories. ... Gillette Saf Raz (1). Gimbel Bros .. Gimbel Bros pf Glidden Co. . Gobel (Adolf) . Gold Dust (1.60 Goodrich (B F) Goodrich (B F) pf. Goodyear Tire&Rub. Goodyear 1st pf (7). Gotham Silk Hosiery. 2% 8l 2% 7 51 19% 314 Grand Union 6% Granite City § 14% Grant (WT) (1)..... 5'5 Great Northern pf 5 Great Northern Ore.., 3% Great Western Sug. . % Grigsby Grunow ' Guantanamo Sug: 215 Guif States Steel. ... 12 Guif States Stl 1st pf, 15 Hackensack W (17 19 Hacken Wat pfA 1 50 Helme (GW) (17)... 7014 Hercules Pow pf (7). 4315 Hershey Choc (6). 57 Hershey Choc pt 1 3 Hollander Sons 421 Househd Fin p 8% Houston Oil. 1% Houston Oil (new). ., 8 Hudson & Man (3%). 2% Hudson Motor Car... 11 Hupp Motors. . - 4% Illinois Central s Indian Motor Cycle. . T34 Industrial Rayon (2). 14% Ingersoll Rand (3) 10 Inland Steel... . Ins'sharesDel a ac. Insurshares (Md). .. Interboro Rap Trans. Intercontl Rubber-. .. Int Bus Machine(n6) 14 Int Carriers Ltd 20c. 3% Int Cement . 47 Int Combustion pf... 10% Int Harvester (1.80). 68% Int Harvester pf (7). 2% Int Hydro-Elec (A).. 7 Int Merchant Marine. 314 Int Nickel of Can. ... Int Rys Cent Am. ... 1 Int Rys Cent Am pf.. Int Salt (1%%). Int Shoe (3). 5 Int Silver int Tele & Johns-Manville. 45 Johns-Manv pf (7) 30 __Jones & Laugh pf(4) 90% KC P&L 15t pf B(6) 2% Kansas City Southn. 5 Kan City Sou pf (2). 2 KaufmanDS (80c).. 4% Kayser (J) &Co..... 7 Keith-Albee-Orph pf. % Kelly Spring Tire. 15 Kelly-Spring ctfs. 6% Kelly-Spr T 8% pf. 2% Kelvinator Corp. 17 Kendall Co pf (6). 4% Kennecott Copper..... 1 Kresge Dept Stores 6% Kresge (SS) Co (1). 10 _Kroger Grocery (1) . 25 Lambert Co (15) i Lee Rubber & Tire % Leh Port Cement. . Lehigh Valley Coal. . Lehigh Val Coal pf.. Lehigh Valley R R Lehman Corp (2.40) Lehn & Fink (2 4 Libbey Owens Glas Liggett & Myers(t, Ligg & Myers B (15), Link Belt (80c)...... Liquid Carbonie (1) 4 Loew's, Inc (14) Loft Inc.... Loose-Wiles Bis (2). Loose-Wiles 1st (7) Lorillard (P) (1.20) 14 Louisiana O1l. 714 Loutsville & Nash 1% Ludlum Steel. 615 Tudlum Steel pf. . 10 McCall Corpn (2).... McCrory Strs pf (6).. McIntyre Pore 13%4... McKeesport T P (4). McKesson & Robbins 4 McKesson & Robs pf. McLellan Stores. . Mack Trucks (1) Macy (HR) (n2).... Magma Copper (50¢) . Manhat Elev gtd (7). Manhat Elev mod gtd 3 Marine Midld (80c).. Market Street Ry pf., Marshall Field & Co.. Mathieson Alk (1%) . May Dept Stores 1.80. Met-Gold Pic pf 1.89.. 4 Miami Copper Mid Continent Petm.. Miiland Steel Prod. . Midland Stl 1st pf(8) Minn Moline Pow. ... Minn Moline P pf. ... 4 M StP &S S Marie. .. M StP &S S Mlsd (4) Mo Kan exas. Mo Kan & Texas Missouri Pacific. Missouri Pacific Monsanto Chem 1% . Montgomery Ward Morrell & Co (2) Motor Products (2).. Mullins Mfg pf irray Corp ash Motors (1) Nat Biscuit (2.80).... Nat Cash Reg (A)... 3% 1 2% % 5219 10 t Pwr & Lt (1). t Steel (1).. Nat Surety. . Nevada Con Copper. . Newton Steel N Y Air Braki N Y Central. N Y Chicago . NYChi&StLpf. N Y Investors. . . ¥ & Hartford. Y N H & Hart pf. Y Ont & Western. . Y Shipbuild pf(7) . orf & Westn pt (4) . North Am Aviation. , Nor Amer(b10%stk). 25'3 North Amer pt (3) orthern Pacifl 5 Ohio Oil (a20c) 114 Omnibus Corp. 3% Orpheum Circuit pf.. 9 Otis Elevator (1%).. 90 Otis Elev pf (6)..... 1% Otis Steel. 12 Owens I G 1_ Pacific Coast. . - 16% Pacific Gas & El (2). 20% Pacific Lighting (3). 58 Pacific Tel&Teleg(7) 851 Pacific T & T pf (6).. 11 Packard Motor Car. 7% Pan Am Pete B n(1) 815 Panhandle P & R pf. 1'% Paramount Publix 2 Park & Tilford 3% Patino Mind 16 Penick & Ford (1) Net. . High. Low. Close. Chge. 4 n [T RTINS ] xR arrrauwsEaedn - 1 ++ + Aok AR AR Stock and Dividend Rate. Penney (J C) (2.40). Penn Dixie Cemen Penna Railroad. Peoples Gas Chi (5). Pere Marquette. Pere Marquette prpf 60s Petrol Corp of Am o Phelps Dodge. Phila & Read C Philip Morris&Co(1). Phillips Petroleum. ,, Pierce Oil. Pierce Oil pf Pierce Petroleum. Pillsbury Flour (2).. Pitts United Corp. Poore & Co (B). Prairfe Oil & Gas. Prairie Pipe Lin Proctor & Gamble (%) Proct & Gamb pf (5). Public Sve N J(3.20) Public Sve NJ pf (5}, § Public Sve NJ pf (6). Puilman Corp (3).... PureOil..... 50 Pure Oil pf (8) . 4% Purity Bakeries (1).. Radlo Corp Radi Corp pf (A). Radio Corp pf B. Radio-Keith-Orph Reading Rwy (1). Reading 1st pf (2) Readinz Ry 2d pf(2). Real Silk Hosiery. .., Real Silk Hosiery pf. Remington-Rand. Sales— ‘Aad oo. 36 3 ~Prev.1932— Hish Low. 3416 1% Reo Motor Car. Republic Steel Republic Steel pf. Revere Cop & Br p )en Rio Grande Oil...... Rossia Ins of Amer. . R Dtch (a80%c) 30% Safeway Stores (5). 69 Safeway Strs pf (7) St Joseph Lead. .. St L-San Franclsco. . L-San Fran pf. Savage Arms. .. Schulte Retail Stores Schulte Ret Stor pf. . cott Paper (1.40) aboard Air Line. .. Seaboard Oil Del 40c. 9% Sears Roebuck - 1 Second Natl In 1% Servel Inc........ 1% Sharon Steel Hoop. Sharp & Dohme. ..., Shattuck (FH) 50c. .. Shell Union Oil. Shell Union Ol pf Simmons Co. . Skelly Oil. ... Skelly Oil pf ww Socony-Vac (80c) . Solv Am pf ww (534). South Port Rico Sug. So Port Ric S pf(8).. Southern Cal Ed(2 Southern Pacifie uthern Railw Southern Railway pf. Sparks-Withington. . Spencer Kellog (60c) . Spicer Mfg. . Spicer Mg Df (3)..., Spiegel-May-Stern. , Stand Brands (1.20). Stand Gas & Elec (2). Stand Gas&EI pf (4). Stand Gas&El of (7). % Stand Invest Corp 15% Stand Oil Calif (2) 7 Stand Oil Kansas. 19% Stand Ol N J (42)... 1314 Sterling Secur cv pf. 1% Stewart Warner. 43 Stone & Webster Studebaker Corp. Studehaker pf (7 Sun Ofl (1)..... 9% 28 2% 12% 31 281 6% 15% 18% 1047 32 ~Prev.1932— Low. Net. Low. Close. Chse ] Hish. - % + % 12 14 2% ™~ 2% 11 19% 1% 40 614 30% 11 55 12 1% 187% 1 3915 297 20 57 10% 5 25% 1714 1 9% .M. cash payments based rations. in atock. 37% in_stock. 304 in scrio. Stock and Dividend Rate. + 14 % % Superior Oil 6 Telautograpl 9% Texas Corp (1). Tex Gulf Sulph (2) Tex Pacific Coal&Ofl Tex Pacific Land Tr.. Thermold Co. Third Avenue. . Tide Water Asso Oil. Tide Water As pf (8) Timken-Detroit Axle Timken Roll B1%... Transamerica Corp. . Tri-Contl Corp. Trico Products 2 Truscon Steel. Twin City RapTran 3 Ulen & Co. 15'% Un Carbide & C(1.20) 8 Un Oil of Calif (1). 27% Union Pacific (6). Union Pacific pf (4). Unit Aircraft Unit Aireraft pf (3). Unit Biscuit (2) % Unit Cigar Stores. 7nit Corp (40¢). Unit Corp pf (3) Unit Electric Coal nit Fruit (2) Init Gas&Im( ). t Piece Dye Wks. S Gypsum (1.60 Indus Alcoho! Leather. . Leather (A) Pipe & Fdry (2) Pipe 1st (1.20).. Realty & Imp. Rubber. .. Rubber 1st pf. ou 51'3 U S Steel pf (7). 'S Tobacco (4.40). % United Stores (A) Univ Leaf Tob (2) Util Pwr & Lt (A) 5% Vanadium Corp. -... 14 Va-Car Chemieal. Va-Car Chem 7% 1t 7% Vulcan Detinning. . Wabash RR. . % Waldorf Sys (1%3). “ Warn Bros Pictures Warner Quinlan Warren Bros . Webster Eisenlohr. .. Wesson Oil & Sn (1). West Pa Elec A (7) West Pa El pf (1) West Pa Pwr pf (6).. West Pa Pwr pf (7). Western Maryland. ‘Western Md 2d pf Western Pacific pf ... Western Union. ..... 4 Westing'se Air B(1). Westinghouse Elec. . Westinghse 1st (33 ) White Motor. . i@ White Rock M S (2). % Wilcox Oil & Gas. Willys-Overland 5 Unit of trading less than 100 shares. a Pald e Payable i cash or i Plus $1 in special preferred stcck. k m Paid ia:t year—no regular rate. 2 Ex-dividend. Sales— Add 00. High. - . VR 4 6% 123 131, .o 47 1Th s 8 % 64 4 25 1 3 [N - % + % + W 115 i 5l » -5 RS OB e RO R R RORB AN A~ 1y “ - % +1% Woolworth (2.40)... Worthington Pump Wrigiey (Wm) (3).. 6% Yale & Towne (1).... 5 1% Yellow Truck.. 4 Younzstown Sh&Tu., 13 Zenith Radio. 4% Zonite Produc Sales of Stocks on New York Exchange. . 200,000 X 3 +1,000,000 Dividend rates as given in the above tables are Y c) 5% 600,000 + 1,200,000 on the latest quarterly or half-yearly decia- 1tPartly extrs Plus this year—-no regular rate. tock 3 b Payable in s Plus 3% .k Plus 3% in stock. uFlus 5% 1 stock. p Payable stock. { Plus 8% m Money Reaches Low Level. NEW YORK, July 25 (®)—A further easing in rates for time money to 1 to 1% per cent for all maturities was | the only feature of the money market today. According to money brokers, this is the lowest level for time money rates for about 40 years. The Stock Exchange rate for call money held over at 1 per cent. The bankers' acceptance market was quiet, with rates unchanged. CHICAGO DAIRY MARKET. CHICAGO, July 25 (#).—Butter, 11,616; steady; creamery specials (93 score), 18Y;a183; extras (92), 173%; extra firsts (90-91), 17al17!y; firsts (88-89), 15a16; seconds (86-87), 13al4; standards (90 centralized carlots), 18. Eggs, 10,760; firmer; extra firsts, 1415; fresh graded firsts, 14; current receipts, 11a1213, e e Railroad Earnings. NEW YORK, July 25 (#).—Railroad Teports of June net cperating income, made public today, included: 1932. $10,293* 16,180* 1931. Lehigh Valley. $437,132 Wabash ... 203,208 *Deficit. S AT e be O Grain Report. NEW YORK, July 25 (#)—The vis- ible supply of American grains shows the following changes in bushels: Wheat increased 3,797,000; corn de- creased 1,799,000; oats increased 698,- 000; rye decreased 198,000; barley de- creased 54,000. - - = Textile Credit Promising. There are signs of a healthy credit condition in the textile industry, despite | the fact that failures for the second | quarter set an all-time record, says the National Credit Office. Indebtedness of textile interests is generally at a low point and well within the safety zone, this agency reports. REAL ESTATE NOTES Yielding 6% Interest Tyler and Rutherford, Inc. First trust notes well secured on de. tached modern residences for sale at acerued interest. par_and 1520 “K” St. N\W. NA. 0475 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 JamesE. Connelly, James F. Shes, President Secretary LEARN TO SAVE 5%% Co nd Interest Guaranteed $1,000.00 Cash By saving only $3.75 per mo. You save $675; Interest, $325 Safety—approved collateral is as- signed to and deposited with the State Banking Commission to Guarantee every account. Our Plan Has 14 Appealing Features Is Used in 21 States Acknowledged a: Method of Ace — complete details and savings sched: for all amounts. Bankers Mortgage Co., 708 Dist. Nat. Bank Bldg. My name... Address . e | Belding Hemingway Co. SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co) Offer. Allis-Chamlers Co. 5s 1937.. 5 American Chain C 193 American Tel. & Tel, £ Amer. Wat. Wks. & EL 5s Baltimore & Ohio 4%2s 1933. ... 65 936 Bethlehem Steel Corp. 55 1936.. Canadian Nor. Rwy. 4!2s 1935 Chi. Northwestern R. R. 5: Chicago Rock Isiand 4s 1934 Cleve. Lor. & Wheeling 5s Colorado & ‘So. Rwy. 4'2s Commercial Credit Co. 5325 Delaware & Hudson Co. 55 Denver & Rio Grande 4lss Gen. Mot. Accep. Corp. s General Petroleum Corp. 55 1940 General Public Ser; : W. Texas 5: Keystone Telephone Co. 5s 1935 Laclede Gas Light Co. 55 1934. Louisyille & Nashville s 1937. New York Cent. & H. 4s 1934 New York. Chi. & St. L. 6s 1932 Northwestern Telep. 4145 1934 Penna. R. R. Co. 6'4s 1936. .. ortland General Elec. 5s 1935 Republic Tron & Steel 5s 1940 Sincleir Crude Oil Co. 5'zs 1928 Southern 'Pacific 55 1934....... St. L S. Ry. . 451933 5s. 1933 55 19 NEW YORK, July 25 (#).—Another Ppostponement of the auction of Insull | stocks held as collateral by New York banks was announced toczy. The new date is August 1. FIRST MORTGAGE 6% NOTES Secured on properties in pre- ferred residential and Dbusi- ness sections. Every wmort- gage protected by fire insur- ance and title guaranteed by responsible title companies. Conservative Appraisals Insur- ing Absolute Safety NOTES FOR 5{50 UPWARD + BOSS & PHELPS Loan Correspondent for John Hancock Mutual Life Insurance Co. Realtors MITK St. National 9308 For Investment— HOME INSURANCE The Largest Fire Insurance Com- pany in U. S. Continuous Divi- dend Record Since 1873. PRICE AT MARKET TO YIELD 109, CHASE NATIONAL BANK The World's Largest Bank. Con- tinuous Dividend Record Since 1879, PRICE AT MARKET TO YIELD 89/, Circular on Request WAGGAMAN BRAWNER & CO, INC. 1700 Eye St. ME. 3860 First | M NEW YORK BANK STOCKS s | Were wanted { W | of the_annua | IAL. OLS FORGE AHERD NSTEADY HARKE . Recent Recovery Held ar" Greater Variety of Issues Are Traded. BY GEORGE T. HUGHES, Special Dispatch to The Star. . WALL STREET, New York, July 25.— Deliberately but impressively, today's | stock market extended its advance tnto | new high territory on this recovery. Realizing was well absorbed and activ- | ity was always greater when the stocks were rising than when they were re- acting. The oils were leaders throughout the | day, but all grades cf stocks improved more or less. Just before the close +|Auburn Auto was in urgent demand, | following publication on_the bond tape of the announcement that 900 shares | “for cash.” In varicus | relatively inactive issues there was & thin market on the offering side throughout the session, No Help From Commodities. Today’s advance was achieved with- out much help from commodities. The | wheat market was lower on selling which Chicago professed to believe was | for Farm Board account, an illuminat- ing commentary on the operations of | that organization. Coffee was strong, up 17 to 23 points; hides advanced as did rubber. Sugar was up & point or | two, but cotton was reactionary. The oil shares took the lead at the start, stimulated by the success of the world conference to hold production in |line with consumption, affecting coun- | tries outside the United States. Oil stocks were higher in London before | the opening here and during the first ‘hnur they were actively bid up in this market. Atlantic Refining Feature. The feature was Atlantic Refining, which went to a new year's high on in- creased volume. In this case, however, there was good reason for the strength because of the recent highly favorable second quarter earnings statement. At- lantic earned its dividend for the full year in three months and even at to- day’s advanced quctation it yielded the purchaser at the present rate of dsi- bursement over 6 per cent. | Other oils in demand included Standards of New Jersey and of Cali- fornia, both at the best of the present rally, Socony-Vacuum and Texas Corp- oration. Phillips Petroleum reported earnings of 32 cents a share for the second quarter, showing a net profit of $1.324.430 after taxes, interest, de- preciation and depletion, against a net loss in . the preceding quarter of $2,136922. This was another evidence the improved outlook for the petroleum producers and distributors and was hailed as such by the market. Reading Advances. Rallroad chares were not es active as industrials, but all the important changes were on the side of advance. Reading ran up 3 to 4 points on the June earnings statement. This was the fifth consecutive month the ccmpany had reported an increase in net despite a falling off in gross. Delaware & Hudson, Norfolk & Western, Union Pacific and Atchison were all more or less higher. Short covering featured the higher priced issues of the grade of Coca Cola, Allied Chemical, Eastman Kodak and American Telephone. The Coco Cola dividend meeting will not be held until August 9, but the present expectation is that the regular rate will be declared. NEW YORK, July 25 (#).—Over-the- | counter market: Chase (2).. Commercial ‘(8) ' National (100) nhattan (2).. ional City '(2) Public (2)... Trust Companies. Bankers' (3)..... Brooklyn Trust '(i§ Gentral Hanover (*7) Organized 1879 JOHN JOY EDSON, President lesson Per Share SRR FER ‘ST OF Over a Third of a Century cause of t regularity v the protecti Without a Loss dtate gives May be from $250 B.F. SA National 2100 THERE 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. 0 52nd YEAR COMPLETED Equitable Co-Cperative Bldg. Ass’n WALTER S. PRATT, Jr,, Secretary $6,237,762.31 Subscriptions for the 103rd Issue of Stock Being Received FINANCIAL SUCCESS THROUGH SYSTEMATIC SAVING Those who have learned the of systematic saving are always prepared for every emer- Join the Equitable and save something each pay day. 915 F St. 0000 MORTGAGES GOOD INVESTMENT FCR OVER A THIRD A CENTURY One of the strongest recommenda- tions for investment in our 6149 FIRST MORTGAGES is the fact that for over a third of a century they have been recognized as a standard investment both with those of larg ge and small means—be- he interest earned; the wvith which it is paid and on which conservatively appraised improved Washington real the principal. purchased in amounts up. UL GO, 925 15th St. N.W. IS NO SUBSTITUTE FOR SAFETY