Evening Star Newspaper, September 20, 1932, Page 15

FINANCIAL. THE E NG STAR. " BONDS RREGULAR | [BONDS on N. . sTock ExcHANGE IN QUET MARKH' High-Grade List Advances,! but Speculative Rails Show Losscs. BY F. H. RICHARDSON. Bpecicl Dispatch to The Star. NEW YORK, September 20.—Bcnds Were frregular in quiet trading today. Speculative railroad and industrial is- sues were fractionally lower, while high- grade bonds remained firm or advanced slightly, United States Government UNITED Lib 338 32-47... Ltb 15t 48 32,37, Lib 1st 4 | U's3s51-55, . US3%s46-49 UB3%sM41-48, Us H.no 43, t 3 46 c. US 45 44-h4 UB 44%847-52 ADbItibl P&P 53 53, Ab&BLEYs"3. .. Alloghlnr(s!u 44 Allls-Chalm §s'37. Am Chain db 6s°33 AmF P5s2030,... igh | Am 1 G Ch 53549 ‘The market was steady at the open- ing. New tops for most cf the active Trezsury and Liberty issues were at- tributed to the belicf thet the New York Federal Reserve Bank's rediscount rate will shortly be reduced from 2', Der cent to a figure more nearly s Proximating the open market rates for money. Ccunter money was -v-u-hh at 1 per cent today, while time lo Were procureble at 1% to 114 per unt for 90 days. This trend toward still cheaper money 1s not peculiar to the American market. It is world-wide. The Reichsbank to- day secured permission from the Bank for lnhumuonnl Settlements to cut its t Tate from 5 (0 4 per centy Talk in London strongly favors an imme- diate lowering of the Bank of England rate. The Bank of France, with its huge conversion operation under way, is keap- ing money rates at a mipimum. The consequence here and abrcad is that Yields on short-term Covernment notes cached the van- point savings benks and other investing institutions have turned to the long-term Government market + for portfolio material. Eventually this movement will produce better conditions for new financing in this market. Already there is some im- provement. , it was learned to- day. will shortly do its first financing in the American market in more than t', years. The Canada 4s of 1932 to the ‘amount of $40,000,000 mature shortly. As long as the high-grade market here was weak and Canadian exchange hovering at worse than a 15 per cent discount. the refunding of this loan here was impossible. But Canadian exchange has improved to around 9 per cent and the high-grade market is bet- ter. Capadian 4s are currently quoted on s 250 per cent basis in American funds and it is estimated they can easily be refunded with a 5-year bond at ¢ per cent. Railroads and industrial concerns, however, have little hope of being able to finance satisfactorily in this market; henee all sorts of expedients are being! used. The railroads are rcquesting per- mission to issue mortgage bonds as col- lateral for short-term borrowings. Such an application was announced today on behalf of the Illinois Central, and the Southern Pacific received permission to borrow against $5,916,000 of San Fran- cisco Terminal first mortgage bonds. Conde Nast Publications. Incorporatsd, requested holders of $1,000.000 in 6 per cent three-year notes due Dccember 15 to uccept for each $1,000 not $1.000 in first mortgage 6 per cent gold bends maturing 1937 and $100 in cash. Speculative bonds such as McKesson & Robbins 5125, United States Rubber 5s. Youngstown Sheet and Tube 5s, ‘Western Union 6':s, International Tele- phone 5s, chlcago Great Western 4s, Missouri-Pacific 5s and All:ghany Cor- poration 5s were easy today. German issues moved _fractionally higher, following reports of better busi- ness end less unemplovment in Ger- many. Other Europeans were steady. BANKERS’ ACCEPTANCES SHOW SHARP DECLINE By the Assoclated Press. NEW YORK, Eeptembz 20.—Bank- ers’ acceptances outstanding at the end of August amounted to $681.465,807, a decrease of $22,180,785 from the amcunt outstanding on July 1, tae American Acceptance Council repanld today. At the close of August, 1931. they to- taled $1,090.399.849, or $408,934,042 more than at the end of last month. The decline during the month brought the volume of acceptances outsisanding to & new low since Cctober 31, 1926. Washington Stock Exchange SALES. ‘Washington Gas 6s “A"—8$1.000 at 9915, $1,000 at 991., $1,000 at 99':, $2.000 at 894, $3,000 at 99’2, $2,000 at 9972, Bid and Asked Prices. BONDS. PUBLIC UTILITY. 4128 '3, el S AR Bid. Asked. 106 . e Georlelovlg‘ Ou 1st b: Waeh Gas 66, ser . Gas Gs, W:_nv!h!'lemh MISCELLANEOUS. Wiasii. Mkr. Cold Slorae 85 STOCKS. PUBLIC UTILITY. & Tel. (9). , Canie D'l‘Luulun [ Gl yuhmne r; lec. com. | . s \wv.sh Rwy. & Elec. pfd. following figures are not bids. but h;&mfl( mmxmum prices fixed by gton St haage. HAT!ONAL mm{ &"-"’.. BILRBHBYSY Buz..08, 5% extra, Am Metal 512834 Am Bmé&Ref 53°47. Am Sug Ref 6337 Am T&T 41539 . Am T&T e tr 5546, Am T&T deb bs Am T&T 5%s'43. . Am Wat Wks 58’34 Am Wr Pap 6s°47. Antloquia 78 "45.. Argentine 514 Argent 686 Argentine 6359 Ju Argentine 6s ’69 Oe Argentine 6s A '57. Argentine 63 B 38 Arm & Co 4%s Arm Del 5%8 '" Atchison gn Atehison 4% s 4 AU CL 1st4s At1ICLun At Gulf&W Atl Ref db 5 Australia 4% Australia bs Australia Austrian 78 '¢ Austrian 7857, B&OIstds’dl 33 Batav Pet 4 Belgium 6s°55. .., Belgium 6%3°49.. Belgium 7 Belglum 78 *56. Bell Tel Pa 68 B Bell Tell Pa 5 Berlin Cy E1 6 Berlin C E1 634951 Berlin C F1 6%8'59, Beth Stl rf 5s'42., Bolivia Eolivia 75 '69. Bolivia 88 °47. Bordeaux 6s'34... Bos & Me 4% 5'61J. Bos & Me5s'67.... Brazil 6%s '26-'57. Brazil 618 '27-'57. Brazil 7sC R'52... Brazil 8341 Rremen 75 °3 Bklyn Ed 55 A "49 Bklyn Elev 635 Bklyn Man 65 A 68 Bklyn Un Gas 560 Bkivn U Gas 55 '57. Buff Gen El 4% 5'81 Bush Ter con 5&'55 Bush T Bldg 55'60. Cznada 4s "6 Canada 436236, .. Canada 55°52..... Can Nat Ry 414851 2 Can Nat Ry 4148’54 Can Nat Ry 41,856 Can Nat 4%s"68.. Can Nat 53 '69 July Can Nat 68 '69 Oct. Can Nor deb s '40. Can Pac 418 "46 Can Pac 4%s 60 Can Pac 5844 ctfs Can Pac 5s '54 Car Clin & O 6 Cent J11 E&G 58 ‘51 Cent Pac 1st 4549, Cent Pac 5860. ... Cert-td db §%s '48. Ches Corp 5s 47 C & O gen l‘&l‘!” C&O4% GR0 eontnrsy, CB&Qgn s’ CB&Q4%s"T7... CBEQT) av3iiads CB&Q I dv & h1 & Ent T 5951, Chi Grt West 45’50 C M & StP gn 4 CMStPar s C M & St P ad) 5 Chi&NW w,qc’:rl. Chi& NW 4% Chi&NW rf fifl 017 Chi RI&P rf 4s 'u ChiRI &P ChiR14%s CTH&SE 1st CTH&SE in 55'60. Chi Un Sta 41563 Chi Un St 55 "44. C& W Ind cn 45 C& W Ind igs 62, Childs deb 6343, Chile 656 Chile 68°6 Chile 6576 Chile 6361 Sept. Chile 6863, Chile Cop db 6s Chl Mtg Bk 6 Chl Mtz Bk 6% Cin Un Trm § Clev Term 5s B'73. Colomb 6561 Jan. Colomb 6261 Oct .. Colon Ol 68°38, ... Col GRE i3 52 May Col Gas&F 55 °61.. Com Inves 5%8 49, Con G NY 414s°51 Con G NY 5% 45 Con Pwr Jap 6%s Consum Pow bs A2 Copenhaz 41453 Cuba Nor fi‘és oz Czecho 8s°51. Del&Hud ref 4s'43. Del & Hud 5%s'37. Denmark 4%s '62.. Denmark 6s '42 Denver Gas 58 "51 D& R Gren 4 D& RG W §s'6b. . D& RG Wbs 78.. Det Ed 4%es D 61.. Det Edison rf 55'49 Deutsche Bk 68 12 Dodge Bros 6s "4 Duguesne Dutch East 16347 Erie con 4596, Erie gen 4s'96. Erleref 58 '67 Erle ref 5875 Finland 538 ‘58 Finland 6s "45 Finland 6% Fram Ind 7 French Gov. French Gv 73 Gen Baking 5%5'40 Gen Motors 6s 37 Gen 8t Cas 514s'49. Gen Th Ea 6s°40. . Ger Cent Bk 6838 Ger Cen Bk 6360 J Ger Cen Bk 6360 0 Grand Trunk Grt Nor 4138 D" | Greek 63 68.. Hudson Coal &s Hungary 7%s "4 111 Bell Tel) 6558, 111 Cent ct tr 4852, 111 Cent ct tr 48 '3, ! LAb 4th ¢ sn -38 mn IG STATES, (Sales are in $1.000) Hieh lol ll 101 14 101 24 102 10216 10218 103 18 103 16 9631 97 100 24 100 26 100 20 100 20 10217 10217 104 23 104 25 108 23 108 23 ! Sales. mien. 7 24% 87 24% 88 Am T&T deb s °60. 3 -n:mwe.-'w-am-o~.-,..—_-.w;u-x-.a-au;-a:a-v» ot 19 wam e ~alES Bol @ nonSaRnconnanBan~onn P » (ST St Ra S e Bl ontBmn pne T BEenS suw o NRTA A~ - Eea 1 T as.! )om 53% & i 4 50% Inland St 41¢s A'78 Inland St 4% s B Int Rap Tr rf 53 Int Rap T Int Rlu'l‘r s Int Pap ref 5s A47. Int Pap 65 55. 1 Int Tel&T 4%s 39, Int T&T4Ys'52,. Int T & T5s Italy 7s Italy Pub 78 '52 Japanese 538 °65. . Japanese 6% a 54, , Jugos] Bnk 78 '57.. Kan C F B&M 45'36 Kan C P&L 4%s '61 Kan City Sou Kan City Ter 45" Karstadt 6s 43. Kend 5148 '48 ww Kresge Found 6826 Kreug & Toll 55'59. Lack Stl 58 A '50. Laclede Gas 5 Laclede 5%s C'53 Laclede 543 D '60 Lautaro Nit 6s '54. Lig & Myera 5 '5 Lig & Myers 7s "¢ Loew's Lortilard Lorillara La & Ark 58 Lou G & Ll 6s L& N unf 45 '40 Eleliz 2 Btacoans ColelroanmelonEhelE Samre MSP&SSM cn 4s'38 MSP&SSM cn 58 '38 MSP&SSM bs gtd'! MSP&SSM 5358 '49 MSP&SSM 55 '78. MK & Tadj 5s'¢ MK&TisA'E Mo Pac gn 4s 7! Mo Pacrf5sA" Mo Pac bs F '77 o Mont Pwr 55 A '8 Montevideo fs ‘69 Montevideo s Mor&Co 1st 4 %s'39 at Dairy 5% w48 at Steel 58 G6. .., Nw S Wales 58 °57. Nw § Wales 5s NYC3%s9T. N Y Cent4s'4 N ¥ Cent 4598 YCrtals \ Y Crt 4%s 2013n 2 Y Crf 582013, N Y Cent db 63 NYC&BIL 4% T8, NYCAStLI13A'T4 NY O&W rf43°92.. NY Rys Inc 65 N Y Telgn Norf Sou ref 5s Nor & Wnen 4s” North Am Co 58 Nor Am Ed5s A5 Nor Am Ed 55 C'69. Nor Am E 512563, : N Ger Lloyd 63 '47. Nor St Pw 58 A *41. Nor St Pw 6s B'¢1. Norway 5863 Norway 5%s'65. Norway 6s 43. Norway 6t 4 . Norway 68 52, Ore S L $a ctd 46 Oreg-Wash 43 °61 Orlent Dev Orient Dev Pac G&E 5342 Pac T&T 1st 53°37. Paramount 65 ‘47 Param-Pub 6%s Paris Or 5%s '68 Penn sta 45 ‘48 Penn 4%s D '81 Penncn 4%s'80. Penn gn 4336 S Penn gen 5563 Penn 61536 Pean P&L 4138 B! . Peop Gas ref 55 '47. " v-.qz_nqn--.:—:. Phila Co 68 '67 Phila Elec 4s Phila & Read 63 Philippine R 45°37. Phillip Pet 5%s 39 Pillsb F M 6s '43 PCC&StL 5s A'7 P& WV 4165 C46! Poland 65 *40. Poland 78 '47 Poland 85 '50 Port Gn E14 Por R Am T 6s'42. Pos Tel & C 53’63 PITSTT - P Pure Oll %48 40... Queensland s “47.. Rem Arms 6s A ‘31, Rem R 5% sA4Tww Rhinelbe U Ts " Rhine Ruhr §: Rhine West 65 °52. Rhine West §s°53, Rhine W 6s 55 Rich Ol Cal 63 Rio de Jan 63%s ‘53, RGr Do Sul 6568, R Gr Do Sul 8# '46 Rio Gr W 1st Rome 6%8°62. Rumania 78 89 StL IM R&G 48'33. St L&SF 43 A '50 StL&SF4%s7T St L SW st 48'89. St L SW 1st 6852, Sao Pau T» " Sao Paulo 8: Saxon P W l'l.l‘l‘ Saxon 78 '45. Seab A L6s A - @ B amenemoRan - e - ERaR A A R a g Sinc CrO5%s” Sinc P L b8 ’42. Skelly Oll 53%s Sou Bell T&T 5! SW Bell T58 A ‘54 Sou Pac col 48°49.. Sou Pacrf 48°55. . Sou Pac 4%48768. .. Sou P 4%8 6 ww. Sou Pac 4%s Sou P&OF 4145 A'T1 Sou Ry gn 45 A’S6. Sou Ry 5s°04. . . Sou Ry £n 65 = w SeSomntaan e ~n Sou Ry M&O 48°28. StOfI N J 55°46. StOfIN Y 4%8°51. Sweden 53 '5¢. Swiss534n"46. 92% 92 9 104% 104% 50% TaiwanEPG4sTL 2 4% 44% 4% AFTER EARLY LOSS Utilities and Oils Featured on Upturn—Specialtics Advance. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, September 20.—Prices on the Curb Exchange firmed at mid- day today following the lower opening the forenocn. Electric Bond & Share rose about & point. Citles Service recovered after dipping in initial dealings. Standard 1 Oil of Indiana pointed higher and so {did International Petroleum and Creole Petroleum. Newmcnt Mining firmed. | In the active specialities, Aluminum Co. of America ccmmon moved upward quickly. Early strength in some of the leading commodities, scattered reports telling of increased retail trade gains this month and further expansion of bank credit stimulated activity at the noon hour, The expectation that the Eastern rail- roads would sign the four-party con- colidation plan on Friday was also gen- erally construed bullishly marketwise. Indiara Pipe Line ordered an extra dividend of 5 cents, but the stock omened lcwer. Southland Royalty paid the usval guarterly. Citles Service fiened early on the Kansas court | proceedings against some of its subsid- iaries in that State. Richman Brothers and American Maize Products paid their usual disbursements. Among the motors, Stutz, with a de- cline of more than 2 points, was the widest mover. A similar drop in A. O. Smith Corporation was the largest swing in the specialties. Talk of a speculative movement in wheat brought buying into Deere & Co. Cord Cor- poration, which takes its market cues from the aviation group as often as from the motors, today turned over quickly on the rumor, upon which no official would comment, that interests close to the company planned to go 89': ' into aviation in a big way, and there- 70 8214 s | Mickel Fd_Prd pf.87'sc 908, 100 64 44y 39% 51y f: 24, 9 X Baston, um; & Gr. fore were continuing purchases of Avia- tion Corporation and might bring Dquglas Aircraft into the reported com- bine. Alloy Steel shares ignored the report of the Engineering Foundation, which siressed the fact that future of the steel industry lies in that field. Lake | Shore mines responded fractionally to the annual eamning statement showing net profit of $7.797,011 l(l!nlt $4,505,- €00 in the pretedlng fis yclr DIVIDENDS AI‘JNOUNCED NEW YORK, Sepumhcr 20 (A— Pe- Pav- Hldrs. of Rate.riod. able. ~ record Reduced. Sound Po & Lt Company. Pucet $6 cum 51 Roblnson Gon Cone 3% @ Resumed. Wolverine Tube Co...5¢ Omitted. 5S¢ Oct. 15 Sep. 20 o e Oct. 1 Sep. 15 s & El. lh-crm—a Niles Crane T e Q Deferred. Jobnsen Iren Wke Dy & Bhipbl pf..52 Q Regular. Amer Maize Prod... 25¢ Do, p1. 3 3 Am Therm Bo_pf. 87%c Belt RR & 8t Yd Co 1o 88 -1 JOTOTORIUONER 6 JIouBeans SN B Cal We Sta Life Ins.75c Carnline Tel & Tel $2.50 Cinn Whole Gr pf §1.50 Conn Gen Life Ins. 30 Dallss B&T (Dalles) 60 Den: n Stk ¥ds..75¢ Pt Finance o of Iowa A 37 Do. R o Injand In\morx nvmldmnp.xc Pqurt’nl'l'lS {1~ OO OUENE: - OO OOt Jve: 3 Lane Cotron Milis, 35 Val Pu Se !' B £150 Pu:v\ Hamp Fire 135 40 ¥ & Rich Gas G Mies 13 Ogilvie Fir Mills Lid $2 Ohlu Wax Paper. .. 402 Pacific Fin Cor of, Cal el ot Pecine Fin Gor of- c.: (Del) BI C.. .. 1675 Pacific Fin Cor of Cul (Del) 17 Penn G % B £ pisl 7; »I. hrlnmeld City wn(er Sorinrheld iy Water pf. $1.75 Bp'miflrld CIKY Wl‘u‘l DOODOOD EOO: 00 © O HODOOO O O OOOLOMOOOO OO DOOOOOOOLOHOD DOOOO DOD LOOODEPOOLOOOOD Tenn E1 P68 A “47. Tex & Ark 5%5'50. Tex Corp ev s '4. Tex & Pac 58 B"77. Tex&P5ssC'79... Third Av adj 5s "0 . a N N 5%, cn Towio EVLt 675311 UE&P ll(n%lAN 9% | the week, while cash in vault Unit Drug 58 '53 Utd King §%s '37.. U S Rubber 5s°47.. Un St W 615 A'47. Un St W 6348 A'S1. U St W 63sC'51. Uruguay 6s°64.... Utah P& L 58 '¢4.. Utll Pw 58 59 w' Utll Pow 5%s “47.. Vanadium St 5s°41. Va EI&Pwr 6%8 43 Va Ry & Pw 58’34, Va Ry 1st 68 A ‘62. Wabash 4%8°78... Wabash 5a D30, - Walworth 68 A "45. Warsaw 78°58...... West Sh 1st 45 2361 West 1 db 68°44... West Mg 5%5"77.. West Pac 58 A46 West Un cl tr 5838 West Unon 5a'51. West Union bs '60. West Un 6%s 36 Westphalia 6= 20% 8bia 2 49y 49% 6Ty 61 6T Wis CentTm és u. Yokohama §s’61 Ygstn S&T 68 A'T8, and irregularity that prevailed dllfln'- United « | creasing $14.000.000. WASHINGTON, D. . TUESDAY. SEPTEVBER 20, ICURB PRICES FIRM 1932. N. Y. CURB MARKET Received by Private Wire Direct to The Star Office. m and Sale— Dividend Rate. Add 0. High. Lew. Cloge. Allled Mills. 4 Aluminum of Amer 190- 5! 58% Alum Ltd Cwar,.. 1 ‘Alumn Ltd cum pf. ‘Am Beverage. Am Capital pf. Am Capital prpf. .. AmCities P& L B. Am Cyanamid B. Am Equitfes. . Am & For Pw wai Am Founders, - AmGas & I (11).] Am Lt & Tr (2%).. Am Mfg pf (5) CaamanE e » ‘Am Superpowe { ‘Am Super 1st pt Am SBuperpower pf, Am Ut&Gncpf 1% Arkansas Nat Gas. Arkansas Nt Gs A. l Armstrong Cork. . Ass0 Gas & Electric 'ASSOG&EAbBG%. Asso Laundries. Atlantic Coast pm. Atlas Utilstie Atlas Utl] war {Atlas Util pf A (3) | Auto Voting Maeh . 5 8 ey ....2.......?..........1..- s CendSwn Ut pf (7). 90e Cent States Elec Claude Neon Ine. .. Colombia Synd. ... | Comstock Tunnel.. Comwlth Edis (5 Comwith & Sou war Ut A. .. Cons Gas Balt 3.60. C ‘ont Shares ev vf. . Crown Cork Intl A. Deere & Co. Detrolt Alrcr: East G & Fuel Al.o East Util Inv (A).. Fastn Sts Pwr (B). Educational Pic pf. 25, Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md. September 20— White potatoes, 100 pounds, 75al1.05 Maryland end Virginia Cobblers, bar 1.25a1.50; sweet potatoes, bushel, 30a80: | beans, bushel, €0a1.15; beets, 100, 1.508 | 200; "cabbage, bushel, 35240; carrots, 100. 1.50a2.00; caulifiower, crate, 2.00; celevy, crate, 75a1.25; cucumbers, bushel. 1.50a1.75; corn, dczen, 8a12; czlp.lnus hamper, 20a25; lettuce, cral bushel, 1.00a1. per 100 pounds, K 2.00a240; peppers, hamper, { squash, bushel 301“7 spinach, 11.0081.20; tomatoes, hamper, | canners’ "stock. bushel, 30a35: tushel, 5021.00; canta'oupes, hamper, 15a35; grapes, basket, 25a30; peaches, bushel, 75a2.00; pears, bushel, 1.00a1.25; watermelons, 100, 3.00a25.C0. Dairy Markets. Chickens—Yourg, 13a18; Leghorns, 12a15; old hens. 14a18; Leghorns, 112 12; roosters, 9a10; ducks, 11a14; plaeons pair, 10815 guinea fowls, 25a45 Eggs—Receipts, 917 cases: current re- ceipts, dozen, 17a18; hennery whites, 25 7. Western firsts, 19a20; nearby firsts, 19a20. Butter—Good to fancy, creamery, 18a 23; ladles, 13al4; precess, 15al6; store packed, 19all. Live Stock Market. Cattle—Receizts, 150 head; steady; others 25 to 50 lower; steers, good to cheice, 7.2588.25; medium to good, 6.253 7.25; fair to medium, 5.25a6.25; plain to fair, 4.7585.75; fair to med]um, 3.00a 3.50a4.50; common to plain, 3.00a3.50 fresh cows and Springers, 30a60: heif- ers, good to choice. 5.2525.75; medium to good. 4.7585.25; fair to medjum, 4.50a 4.75; plajn to fair, 2.50a4.50; common to plain, 3.00a3.50. Sheep and lambs—Receipts, 700 head; lower: sheep, 50a2.00: lambs, good to choice, 5.50a6.00; common to medium, 3.0024.50. Hogs—Receipts, 600 hcad; spotty; lights, 4951530 medlum 4.95a5. 30 .00: pigs, 4.8005.20; best ‘Western hogs, umo cents higher than quotations. Calves—Receipts. 75 head: steady: | calves. good to choice. 6.50a7.00; com- mon to medium, 3.50a5.50. Hay and Gnln. Wheat—Nc. 2 red Winter, garlicky, 3 September delivery, e. 6015 : October, 60°: cargoes on grade, No. 2 red Winter, garlicky, 60%; No. 3, 584, No. 0, 56%; No. 5, 4%, Oats—Nt 3 to weight, 21-:.'5 “Ho. 3, 26821, Rye—Nearby, bag lot, 45850, Hay—Receipts, none. The general hay market is quiet, with receipts ample of all grades for the prevailing demand at a range of §11 to $14 per ton as to grade and kinds. The poorer grades cf haey are hard to move at any price, e S LOANS ON SECURITIES INCREASE DURING WEEK By the Assoclated Press. No outstanding e} were evident in the statement of condition of re- porting member banks during the period ended September 14. There was a slight tendency on the part of bank credit to enter the securi- ties market, the statement showing an ¢ | increase of $28,000,000 in loans cn se- curities, which was eclipsed, however, by a falling off of $74,000.000 in ali other loans. Confidence of the banks in 4 | Industries continued during the period, # [ with investments in securities other than Governments in- The banks further strengthened thetr reserves with re 1 members, show- egional TS, ing an increase of $107,000,000 m $11,000,000. Both these factors indicate ample funds unluna attractive invest- ment opportunities. Market Averages By the Assoclated Press. =3Rg8gee ESgs, BeSe amebok: Bedg .. .... Caahinlamb ! 228308 amuta: £ 4 8 a5sa3En882Es 9 i g {3 S s8sSapaSsrens E “hh"fi—!ui-\hh'—- sSaguaeSagaas Zoaks E” su\_yuoqoaz: Bbs-ain Bim s ir e 215 3, pyirietsatnaty g 23 (Copyright, 1933, Standas " | 8alt Creek Prod (1) fair to medium, 4.5024.85; piain to fair, Stock snd Bale— Dividend Rate. A0S tma, Tow. Cless. Eisler Elec El Bd & Share bl% 819 5'/, El Bd & Share pf 8, 1 Elec P & L op war. EmpireG&F 7%. . 100- Ex-cello Alr & Tool 2 Fanny Farm Candy Plintkote (A)..... Ford Motor Can A Foremost Dairy pf. % | Foundation For Sh. Franklin Mfg. .. Franklin Mfg pf.. l|lP&LDf((!..,. 50' Ind Pipe Line k3be. 1 nsull Inv 3 Int Petrol (1)..... Int Products. Int Superpwr (s0e) Irving Air Ch(40c). Italian Superpw A. Jonas & Naumburg Kirby Petroleum. . Knott Corp........ Lake Shore M 1234 Long Isiand Lt 60c Long Isl Lt pf (7). Met Edison pf (6). Midl West Utilities 1 108 3508 ]3 Mo Kans Pipe . . Moh Hud P Ist pf 7 50- Mountain Prod 80c. Nat Dellas Hess. . . Nat Fuel Gas (1).. Nat Pw&Lt pf « Nat Sugar N J (2). Nat Transit (80¢) Neisner Bros pf 2 on Herman . w Eng Pw pt (6) 10s 45 wmont Mining.. 5 151 Y Tel pf (6%)... 258 1134 N Y Transit (t90c). 1 § Niag Hud Pwr 1.20. 5 15% Niag Hud (A) wars b Ohto Copper Pac GEE 1st pf 1% Parker Rust Proof. 50s Penroad Corp Phoenix Secur Corp Phoenix Secur pf. . Ptlot Radio Tube A Ploneer Gold (12¢) Pitney Bowes b4 % Plymouth Ol (1).. Pratt&Lambert (1) Premier Gold (12¢) Prudential Inv. ... Pub Utll Hldx w. . 1 Quaker Oats (17).. 10s Reliable Stores. Republic Gas. Reynolds Investing Root Refining cv pf 8t Regis Paper. ... Pmem E D s am e 2 Beaboard Utilitles Sec Allied Cp(k2ic) Segal Lock & Hrd. Selected Industries Sel Ind all cfs(5%) Sentry Saf Control. Shenandoah Corp. . whenandolh (24 Srramannnn ou Cal Ed pf B1% ithland Roy 20c. d Oil Ind (1).. Stand Of1 Ky 1.20. . Stand Oil Ohio pf 5 $tand Pub Sve A Stetson (J B). Stutz Motor Ca: Swift & Co Swift Int] Tampa Elec 2 24 Technicolor. Tech Hughes (60c) Texon O&Land t1% Tobacco Prod Del. Trans Air Trans. .. Trans Lux DL P'S. Tri-Cont Corp wr. . Tubize Chat Corp. . Un Gas of Canada. United Corp war-... United Founders. . United Gas. 5 United Gas war . United Gas pt u).. Unit Lt&Pwr (A). Unit Lt & Pwr pf.. U'S Elec Pwr ww. Utah P&Lt pf (7) UtIP&Lt. CHP&LE Ttility Equities Utility & Ind. Van Camp Pack Van Camp Pak p! Venezuela Pete. .. Vick Finane (30c). Walzreen Co. ..... Walker (H) pf (1). Wenden Copper... Willow Cafeterias Wil-low Cafe pf ( Woodley Petrol. . .. Dividerd rates in doll @ Sm e & e vaSnS e S =B ree o h 90~. 273 3 15% | FINANCIAL. Grain Market By the Associzted Press. CHICAGO, September 20.— ‘Wheat | prices tended upwerd today, and the difference between Chicago and Liver- pool mmuam became the widest wit- nessed in m Late in me day Greece was n havii rchased a cargo of o BB S imter heat at the Gult ot Mexteo paying 674 cents over Chi- cago December, uakmt 3% cents a week ago. Threshing of wheat tn Can mn wis reported 35 to 75 per cent wnm closed firm, l,’,-’ | terday’s finish, corn unchen 33 higher, cats a shade ta prov\mu unchanged to 1an. above yes- to Close. 2e% n-n‘/- New York Cotton Special Dispatch to The Star. NEW YORK, September 20.—Com- parat!velv quiet trading oceurred on the ton Exchange today and fluctuations held within a range of a little over 10 . ending 4 to 7 points higher than s weather brought a steadying irflurnce irto the market cezpite the d-ily in-re:sing movemen', of t*2 ncw e, 5 were advanced 5 paints to 6.95. | Cotten range: oc Da J Banffshire, Scotland. has its greatest 113% | boom in motor fishing boat construction | 5 | since the Werld War. 15% | 1 *E; k. 3 24 s based on last | payment. Capital and Surplus, $3,500,000.00 Keep Your Dollars Active —through judicious spend- ing, wise investment or by banking them in an inter- est-paying bank, like this, and you'll do your share in reviving business. fThis sixty-six-year-old bank paying interest to over 56,000 depositors. SAFE DEPOSIT BOXES AT NOMI NATIONAL SAVINGS & TRUST COMPANY The Oldest Savings Imstitution in the Diciri Corner 15th & New Yor: Ave. PROPERTY Apartment House A—15 LOANS ON INSURANCE SHOWJNG DECREASE + Company E;;tivk Sees Sign of Improved Conditions in Reduc- tion of Borrowings. ¥F¥ By the Associated Press. NEW YORK, September 20.—~One of the signs of improvement in general business is that fewer policyholders of the New York Life Insurance Co. are seeking loans on their policles, it was | said yesterday by Thomas A. Buckner, president of the company. There has been a decrease in the | number of applications for policy loans and a substantial decrease in the aggre- gate amounts of loans applied for, he | reported. Measured by the first six | monnu of 1933, the cash outgo for pf)l- |icy loans made by the compan; creased during July and August {1 cent; measured b)v the peak month aur- ing the first half of the year the cash loans mazde Juring July and August show a reduction of 30 per cent in vol- {ume, Buckner elso said there had been a “substantial increase” in the number of policy loans repaid in whole lor in “The company’s liquid cash position is strong—in fact stronger than ever before in all its 87 years of operstion.” said Buckner. ~“Assets have | steadily increased and the cash l.ncome has been sufficient at all times to meet all obligations, to make new invest- ments and to have large bank balances on hand. During the first seven months of 1932 the company’s new paid for business has averaged just under $2.- 000.000 for each working day. “The company has not borrowed from the Reconstruction Finance Corpor: tion nor have ve rold any securities for the purpose of reising funds.” Chemical Sales Steady. NEW YORK, September 20 (#).— | Most chemical products continue to ex- | hibit a steady tone, it is re in | trade circles. Basic producu are quiet, although alkali producers nave been re- ceiving an increased number of orders ' from the textile trade. Interest Paid on Checking and Savings Accounts NAL RENTALS 66th of Columbia Peuo MANAGEMENT MANAGEMENT WITH the placing of your apartment house prop- erties under our management you save yourself all the inci- dental worries—and you have in the invy addition the assurance that best possible return on your estment will result. Let us tell you just what this service includes—and how little it costs. B. F. SAUL CO. 925 15th St. N.W. MORTGAG MNO. 53 of a Series of Reasons why—uhen sclecting @ bank—the Columbia Nationat Merits YOUR Consideration, YOU ONE OF THE HUNDREDS Of Washington people who lost Thousands bles from Fire, Theft and Acci- dent last year? It has happened happen in 33 asora ing_ valui register upon the minds of W ington's people. L bitter regret the lesson f SAFEST place for valuables SAFE NAtl. 2100 E LOANS of Dollars in Valua- in 1932 .. Suffering, has written indelibly or hundreds that the DEPOSIT BO yours her: WE 3% ON SAVINGS CONVENIENT HOURS I Saturdays 4l 13 12 0'Clack lll 24, 15th, 16th the month