Evening Star Newspaper, November 17, 1932, Page 14

BY MERGENTHALER Llnotype Statement Made at Annual Meeting in Brooklyn. BY EDWARD C. STONE. According to the annual report of the Mergenthaler Linotype Co. for the year ended September 30, 1932, made at the annual meeting held at the main plant of the company in Brooklyn, a net loss of $993,526 is shown after taxes and : ’aqmcmnon This compares with & net “= profit of $936,161, equal to $3.65 a share, ‘on 256,000 no par shares of capital stock ing with $30,182,388 on Septem: o 1931, and surplus of $10, 'lu 381, ‘Current assets on "$15430875 and cur- cash, amounted w cur- @ yent liabilities were $20,f 904, comparing * with cash of $1,208,451, current assets % of $16,178,320 and current liabilitles of ** $154,288 on September 30, 1931. Capital % stock amounts to 256,000 no par shares. The statement for the year ended Beptember 30, 1932, compares as fol- lows with the prevlmu qu yelrs 932 0. 5% 5361 131800410 Elvidendl ~n&3§3 S'g'a?noo« 1,664,000 Degeit $1761,620 ~8500,830 As nowd in yuurdnya Star, the ++ Mergenthaler Co. directors have de- .. clared a_dividend of 40 cents a share, psynbu Dembu 31 to stockholders of ncord *$145,410 gl.xred dividends of 40 cents and 35 nts per share, payable June 30 and ptember 30, respectively. Mergenthaler Linotype stock has been ., %ery widely held in Washington for y years. The stock is listed on the gm Exchange and during active tndsng years is always one of the lead- 3 The local stockholders are ably rep- gesented on the board by two wuhln(- ' dirnmn Attorney Frederic F. Mc- d George Hewitt Myers, the mrelerwd\nml\he lace left va- cant by the death of Edward J. Mc- Quade about a year ago. Banking District More Cheerful. ‘Washington bankers are much more ce the elecf.lnn has gone into history. Many financiers who were gloomy over uu idea of a pos- sible change have already become recon- » ciled. Bankers, merchants and all other business men can now focus their at- tention much more strongly on business and recovery. In fact, many believe the magnitude of the change will prove beneficial. Along this same line, Stand- ard Statistics Co. looks churtully ‘upon the nnlnchl outlook after March 4, saying. “Myths, traditions and - inferences grow up u-wnd candidates and es hich often are not warranted the facts. Gov. Roosevelt has stated cl B ptuide us an inch nearer to & dellbenu soft money policy. s “A period of hesitation and ld.'\lfl Fhly accompanied by sha: cmuom e indicated Reliet the struggle to ea | & der Nnuhlmhlhoa. New York dispatches received here mfoday state that new life insurance pro- duction in October was 18 per cent less . than in October, 1931. Total new life 4“4 21% 151% 28% Auburn Motor (f4).. 49 T 12 3T% 21% 2 5% 24% 9% !6 55% es— Low. igh. Low. Close. Bl Low. Divicend Rate, 68 Abram Strauss pf (7) w- 8 5 Gmt Northern Ore. 1% Adams Express 3% Great West Sug. 22 Adams Exp pf (5) 2% % Grixsby Grunow. 12 Adams Millis (2).... 2114 2% Gulf States Steel 9% Addresseqraph. 3% Hershey Choc (8). 83 57 Hershey Choc pf(15) 159 110 Homestake Min(110) 574 42% Househd Fin pf 4.30.. 28% 8% Houston Oil... . 5% 1% Houston Oil (new) 11% 2% Hudson Motor Car... 5% 11 Hupp Motors 4% Illinois Central 15% Ihinois Cent 11 Indian Refining. Industrial Rayo Ingersoll-Rand (2) 3, Inspiration Copper Interboro Rap Tran: Interlake Iron. Int Bus Machin Int Carriers Ltd 20c. Int Cement Int Combustio Int Comb pf ctfs. 10% Int Harvester (1.20). 68% Int Harvester pf (7). 2% Int Hydro-Elec (A).. % Int Merchant Marine :u. Int Nickel of Can 1 Int Paper & Pwr (A). & IntPaper& Pwr (B). Int Printing Ink. 2 16 7% Alaska Juneau (50c). 11 % Alleghany Corp..... 17 % Alleg Corp pf $30ww % Allez Cp pf 340 ww. 5% Allegheny Steel 4235 Allled Chem & D (6). % Amal Leather. . 3% Am Ag Chem (Del) . 5 Am Bank Note. 20% Am Can (4) 11 Am Come’l Aicohol. . 2 Am & Foreign Pwr.. 2% Am & For Pwr 2d pf. 25 Am Home Prod 4.20 61% Am Ice (1)... oo 2% Am International 19 Am Locomot pf 7% Am Mach&Fdy (30c). 115 Am Metal Co. 6% Am Metal pf. 8 Am Power & Light.. 10 AmP&LtpLA (5). 15% Am Pwr & Lt pf (6) 3% Am Radiator. 3 Am Rolling Mill 18% Am Safety Ragor (3). \lding (2). 908 A et ARt e 254 Tnt Tele & Telex 22 Am Smelt &33** pf.. 33% 10 Johns-Manville ittt 2% % Kelly Spring Tire. 18- Am Sugar (2) K 13& :: ::ln:c’f:ltu A% % Kelsey-Hayes'Wheel <€ Am TobicsoB (16 i0% 2% Kelvinator Corp. ..., 95% Am Tobacco pf (6 19% 4% Kennecott Copper. 11 Am Water Wks (2). 19% 8 Kinney (G R) Copf.. 11 Am Wat Wks cts(2) 19 6% Kresge (S§) Co (1) 1% Am Woolen 110 88 Kresge (SS) pt (1) 2 37 18 Kress (SH) Co (§1).. R e A 18% 10 Kroger Grocery (1) 7% 47 Leh Port Cmt pf (7 3 Anaconda Copper. 5% Anchor Cap (1.20) 4% 1 Lehigh Valley Coal 24 Armour of Del pf(7). 11% 1% Lehigh Val Coal pf. 8 Armour of Ill (A) 29% 5 Lehigh Valley RR % Armour of Iil (B). .. 517% 80% Lehman Corp (2.40). 5 Associated App-rel . 24% 6 Lehn&Fink(2)..... 17% Atchison. 324 Liggett & Myers(t5) 35 Atehison p( (5). 34% Ligg & Myers B (15). 9% Atlantic Coast Line. 14 Lily Tulip Cup (133). 8% Atlantic Refining(1). 19 9 Liquid Carbanic..... 18% Loew’s Inc (14). 1% LoftIne... % Long Bell Lumb(A). 9 Lorillard (P) (1.20), 734 Lorillard (P) pt (7). 714 Louisville & Nash. 1% Ludlum Steel 31 10 McCall Corpn (2).... (3% McGraw Hill Pub. MecIntyr Por M(11%) MeKeesport T P (4). Mack Trucks (1) Macy (RH) & C Manhat Elev mod gtd May Dept Stores (1). Minn Moline P pf. Minne & St Louis MStP&SSM lld(‘) 141410 - LI+ +1 3 = 11+l ° - + L ] LT UYL PV JUVOTRYS i -JBPRRISE- -~ TSI ST e e FEF FFE F FERFF F PEEF FE FSFERER - Lo+l g (ST +FELLL+l+0 0+ F EFEFLEFRESET 1% Avation Corp (Del).. 73 2 Baldwin Locomot. .. 9 8 Baldwin Locomot pf. 30s 3% Baltimore & Ohio. 6 6 Baltimore & Ohio sex"wrssds 25 Belding-Hemingway. 4% Bendix Aviation 7% Bethlehem Steel. . 16% Bethlehem Steel pf. . 3% Blaw Knox... 4% Bonn Alumn & Brass 20 BordenCo (2).... 3% Borg Warner. 2% Brigzs Mfg Co 11% Bkyn Manhat Tran. . 46 Bklyn Union Gas(5). 2% Bueyrus-Eriecvpf.. % Budd (EG) Mfg T+i+101+1 1+ @ Sod3onaliicanan® 1% Missouri Pacific. 21 Missouri Pacific pf 13% Monsanto Chem 1%.. 3% Montgomery Ward.. ™% Motor Products (2).. 2 Mullins Mfg. .. % Burns Bros (A) vte. 6% Burroughs AM(40c). 1234 Bush Terminal pf(7) 3 Butte Copper & Zinc. 1% Butterick Co. 7 _Byers (A M) 4% California Packing. 1% Calumet & Hecla 21 Campbell-Wyant Fy 6 Canada Dry (1.20) 7% Canadian Pacific 16% Case (J I) Co. 30 Ca: ?.w.m.... I+ FFE FEFRREEE FIE FEFE 615 Nat Cash Reg (A). 14% Nat Dairy Prod (2) 13 Nat Distillers. 6% Nat Pwr & Lt ( o Beo 1% Newport Industrie 8% N Y Central. 5 1% N'Y Chicago & St L 2 NYChi&StLpt 82% N'Y & Harlem (5). ¢ NYNH&Hartford. 12 NYN H& Hart pf 3% N Y Ont & Western. . 20 N Y Shipbldg pt (7). 10% Noranda Min (a50c). 57 Norfolk & West (8).. 1% North Am Aylation 13% Nor Amer(b10 %stk). 5% Northern Pacific. ..., B L S et S 11 b5_ Ohio Ol (as0c) 4 4 3 Oliver Farm Equip. .. 22%. 9 Otis Elevator (1) % Celotex Co.... 33 Cerro de Pasco 9% Ches & Ohio (234)... 4% Chesapeake Corp (2) 1% Chi Great Western.. 2% Chi Great Westn pf. % Chi Mil StP & Pac... 1% Chi Mil StP & Pac pf. 2 Chi & Northwestern. -5 - Chi & Northwest pf. 1 Chi Pneumatic Tool. 2% Ghi Pneu Tool pf.... 2 ChiRI&Pac6% pf. 4% Chi RI& Pac 7% pf. 1% Chiids Company. J+ #1011+ L - 1 ¥ T #yed 2 grast V4 1+ + LBl FEFES F FEREE FREE PEF ++ [REE 2! 1+ e T 0 D S ~Prev. ll'fl!\ Stock High. Dividend Rate. 22 !% Unit Gas&Im (1.20). 11% _ 3% Unit Plece Dye Wks. 6% 2 1% U S & Forn Secu 64 26 U S&Forn Sec pf. 31 U S Freight. 22 - 27 SrBaweBebz] 2 USRealty & Imp. 1% U S Rubber. 34 U S Rubber 1st pf... 52% 21% U S Steel. . . 113 B1% U S Steel pf (7)..... - P IT Y, 48% 27 Unit Stores pf (3%) 2 W % Univ Pipe & Rad. 28% M. Vanadium Corp. 65 Va-Car Chem 7% 347 'w. Vulcan Detinning " Wabash R R T4 Waldorf Sys (1%) Warn Bros Pictures. % Warner Quinian 1% Warren Bros 2 Warren Bros cv pt % Wells Fargo. . 25 West Pa Elec A (7). 22 West Pa Elpf (1 80 West Pa Pwr pf (1 1 Western Dairy pl i g2 26% Wrigley rations. —_— Y L 7% 1% Yellow Truck. 3% 40% 12 Yellow Truck —_— % - 4% Zonite Products(60c) ™ OTh TH Sales of Stocks on New York Exchange. FINANCIAL are not g et en -...'!?""“....‘K i S St From sesierasys et Prev. 1033~ Sales— Dividend Rate. lVa Western Maryland., . & & % — % 13 Western Pacific..... % Western Pacific pf. 12% Western Union.. 1 9% Westing’se Air B(1). = F1 15% Westinghouse Elec. . 52% Westinghse 1st (3%) 50s 3 Westvaco Chlorin 5 Wheeling Steel. 2% Wilcox Oll & Ga 5% Willys-Overland. 1% Wilson & Co (A). 11" Wilson & Co pf. 22 Woolworth (2.40) 5 Worthington Pump 4400 High. Low. Close. Onge. EFESFEFEE (Wm) (3). 36% |+ 4+l +1+ ++1+01001+ & EFFER © 2% 25% 100,000 600,000 a3 given in the sbove tables cash payments based on the lstest quarteriy or half-yearly decla- Svan of trading less than 100 shares. tPartly extrs. iPlus stock. & Pald this year—no regular rate. nnflbh Jp cosh or stock f Plus 8% b l’lnbh Ry in stock. b Pl 0 special prefarred stock k Plus 3% i ot stock. b Parabie 0 reguiar rate. o Plus 5 lend, UNGERTAIN TREN[] SHOWN BY STOCKS Market Closes Day Without Significant Change. Range Is Small. BY GEORGE T. HUGHES. Special Dispatch to The Star WALL STREET, NEW YORK, No- vember 17.—Today's stock market went through another cycle of indecisive price movements. It was heavy all morning, weak at mid-day, rallied in the afternoon dnd left off with no significant change. Prom start to finish the range was small and volume of trading was light. The hesitation in evidence from the start was easily explainable by the un- certainties of the international outlook, particularly the deadlock over war debts. No one had any solution to offer and, pending some new light on the situa- tion, operations for the rise in stocks were halted. There was some short selling, but it was mostly for floor ac- count. Rail Report Awaited. Expectation of another decrease in the car loadings statement to be given out Saturday was another reason for discouragement, although any falling off would be in part seasonal and in part due to the election day holiday. Union Pacific reacted to the lowest of the week and Atchison sold off. New York Cen- tral was in supply, as were the other active rails. to increased offerings in the indus- American Telephone by noon was down 5 points from the high made just before the regular dividend was declared. The utilities as a rule were not. active, but nearly all lower. Stocks recently giving evidence of pool t were as reactionary as the rest of the list, meludln: Preeport-Texas and United Afrcraft. ‘The only real resistance was made by the gold mining stocks, which as & rule move contrary to the general market. Homestake Mining was bid again for a gain of nearly 6 e olls, too, were relatively steady, but thn'unboutnufiobe-ldonun constructive side. Shorts Believed Increased. ‘The probabilities are that today’s tions increased the short interest, { Which has of late been almost negli- Advér_lisefi Plan % Expenditures Past $300,000,000 Mark ATLANTIC CITY, N. J. No- vember 17 (#)—Lee H. Bristol, New York, president of the As- sociation of National Advertisers, said yesterday that more than $300,000,000 is expected to be spent in advertising next -year. He said the outlay would be ap- proximately 33 cent over fig- ures for this year. More than half the companies of the asso- ciation, he said, have reported increases. in . total sales volumes during the last three months. GAININ CLOTHING ORDERS REVEALED |Buyers of Boys’ and Men’s| Apparel Spending More Than Last Year. BY BRADLEY ‘W. TRENT. Special Dispatch to The Star. NEW YORK, November 17.—Buyers | of men’s and boys' clothing, from r-ma!therln\km are here today to mr next Spring’s lines: The ushering in of the new buying | 'mauh n mmom'.\’l:zh m:g‘nu of some of le more nt. Ing groups, like the Associated Merchandising Corpora- tion, wmchphudmdthflrudfln for light-weight materials today. Buying probably will be freer on this occasion than at this-time last year, for there are more buyers in attendance, markets are'rising, and retail sales are higher, while inventories are much reduced. Face New Situsatjon. - “It may have been logical for mer- chandisers to restrict buying on a de- clining: ‘market,” Abraham' ‘- Landau, treasurer of Julius Schwartz & Sons, told a meeting of the -Boys" Amul Buyers' Association, “in order to save 2 markdown, but we face ‘a different sltunion now. t has been apparent that skeleton Atocnhav-notmlyh‘tmy-hl ;or cu:he ucmpo“but tfol\:.dm upon manu- acturers a policy o cost-cutt which has- had mcfleczon hba’t& stores’ customers. Wholesale prices are B | tor should DEALERS PREPARED IN AUTO INDUSTRY Drastically Low Stocks to Aid in Placing New Models on Market. BY DAVID J. WILKIE. By the Associated Press. DETROIT, November 17.— Probably one of the most gratifying accomplish- ments of the automobile industry in a year that has been anything factory is the reduction .of dealers’ tocks to a t where every distribu- ready to take on new models without being forced to sell re- maining 1932 models at used car prices. While there has been some dealer mortality during the current year, there has been also a drive on the of s tribution organizations, with the result | that the dealer division of the indus- try is considered in splendid position to carry on the campaign to release demand for the impending new cars. Estimates of the number of dealers at present in the field vary, although they exceed 40,000. Their stocks of current models, according to figures compiled from the record of ou!.put end new car registration, probably do nct exceed an average of three cars from all | 2Piece. Many New Models Due. December will see the introduction of many of the new models. The pro- duction of these cars before the end jof the year will add considerably Io the otherwise poor output showing of the industry thus far in 1932. A few optimistic developments have made their appearance along with the an(x;evgn:leu:dlclgys that have u;‘hlrlc- r the industry’s progress year. Chevrolet, which has announced & new series of its six-cylinder type, to be ready for presentation next month, will distribute, probably before the end of the year, at least $20,000,000 worth of the new models to dnlen. Graham - Paige announces it has E orders - for dcllver! mberloxtlmooowormo{m- terials during the following two months. With definite announcement of the new Chevrolet and lines are bef anticipated in the low-price field. m Ford Co. has made no announcement of plans for new models, although it always has said frequently that experimental work con- stantly under way in its laboratories, but satis- Dall es executives to build up their dh-, LARGE GAINS MADE INBANK CLEARINGS I Totals Given Preceding Week, Were for Only Five Days, However. By the Associated Press. NEW YORK, November 17.~Bank clearings are considerably above those of last week, but continue less in amount than a year ago, although the decline for the first half of November is mod- erately smaller than that for any month in over a year. The total this week at all leading cities in the United States, as reported to Dun's Review was $4.- 062,664,000, a reduction of 324 per cent as compared with a year ago, New York City clearings amounted to $2.- 700,021,000, & loss of 27.1 per cent, while the' total for leading centers outside of New York of $1,362,643,000 was 37.2 P Consideration” sidera must be given to th fact that bank clearings f‘of last 'ee: were for five days. Losses from a year ago are still heavy at a number of the larger cities, among them Boston and most of the leading Western centers. The return from Philadelphia is again slightly kmgeoved and while the decline at a number of Southern centers is higher ;than it has been for the last two or three months, it is still a little be;;:{w the ‘nvernge gures for leading cities, as compil z ?flr‘r}nune‘én &msa showing dgcr&m‘ed red with same ago follow: e c e Week Nov, 16, 1932, troit Cleveland Gincianats ", x.mn G Banges % Minneapolis” Richmond S5SNI LSEIR 23 U 1305 BREEERSRRRR 3SR IS Qs We BID VRO, Beattle Tetal . New York s 53 ia | & 8 - e G332 [N ond auarter Pt Quarber " Furniture Orders Down. T:gw u!{okfi( }::vember 17 (#)— e circles hear that wholesale or for furniture declined this week tod!h": lowest volume in the last two months, reflecting the usual seasonal lull. It is expected the demand for both case goods and upholstered furniture will be limited for the balance of the year. Re- :n::n :?’medhloum and higher priced lesk sets for holiday prmouom -~ tinue in good volume. to S :nr:mt'lsnuphflsmnldmbo well. 6% " tions as Low as Monthly Payments 11 Destred ™ REAL ESTATE MORTGAGE AND 1610 X _Street © Nab 1408 YOU DON'T HAVE TO PUNCH A CLOCK if you bave the punch. For information address Box 40-R. Star SECOND TRUST NOTES FIRST MORTGAGE We will buy monthly gible. Al of that works to strengthen | being stabilized. ‘ y monthly payment, Fhe iechnical position and to 18y the | " +f"feel that évery manufacturer who | frequently suggests alterations that can |l Gercr™ o, burchase money second foundation Tor & rally. . Short sellnE | buys weorns ety B uiarrrer ¥10 | be made without requiring & “new ||| LUt Dotes. seoured on owner- cannot. put prices down permanently | they wil be worih 100 cents on the |model” designation. pied D. C. residences. without the Belp of outside liquidation | doliar when colthing s ready Ford Output Restricted. NION F INANCE CO. at. 7936 5% 1% Packard Motor Car Spring 5 appeared. for shipment. ~This T4 Pan-Am Pet (30¢). of the weed s 4he basic thought | porq output continues under sharply toda 916 Wud-n:d Bldg. 3% Panhandle Pro&Ref. % prodt v “Discussin, restricted schedules, with dealers gen- 1% Faramount Publie..: the “war--qebt tangle erally understood to have stocks. on 134 Phtho Exckange (A). down to $3.20 early today, off 1% ee;nu‘ band sufficlent to meet retail require- MERGENTHALER LINOTYPE OO 3% Patino Mine: }gg;m-ul fun:: wz_g !:‘-l discoun! ?« showed the largest | Ments for lwmflmflely eight weeh Brooklyn, N. Y. November 15. lin. - DS, 08 B Pens. o of men's clothing of any month |PaITINg an ui A [A divider IDEND NO. 14 16 Penick & Ford (1). 13 * Penney (J C) 1. currencies were lrregular, is year—L110717 mens suits 1181.- the. 355,000 sh oo e AL The market steadied in the after- | (s YeAr=h 1 0 11T mens suits, 1181 | tics, mechanically and other- | oo or r;z"p;fi;fla‘{fl,l’(emz &':‘:i‘r"fl-'a’b-' 9% 1% o 42% 12 Owens Il P At AL 37 16% Pacific Gas & El (2).. 47% 20% Pacific Lighting (3)., -mmloru:enmmmonmfl:u 1% r was 15.7 per cent below theamount | 120 74% Coca-Cola Co (7). ... the same period a yelr l‘o accord- 11 Colgate-Palm-P (1). to the Association of Life Insur- 2% Collins & Alkman. S ance its. Presiden 2% Colo Fuel & Iron. ... «__For October, the total new business 2% Columbia Gas (b1).. 40 classes written by the 44 com- 40 Columb Gas pf A (6). 126s was $670,420,000, against $817,- 18% Columb Carbon (2).. 32 000 during October, 1931, a decrease 3% Commercial Credit.. 12 Z'of 18 per cent. New ordinary insur- 11% Comel Credit A (3).. 1 smnce amounted to $433,499,000, against 40 Comcl Cred 1st(6%). 10s -.mmooo a decrease of 23.1 per 10% Comel Inv Trust (2). 4 dustrial insurance amounted to 5 Chrysler Corp (1) FREFF FF OF FE Li+l# % [UTOT 1 TOTOTOTOTL PR, | FEFESFES L | L 1 ."4Ifl++ * ¥ I++1+1+ = - ¥ ¥ - /gent. 8% Comel Solv (60c).... 36 - $198, 053 ,000, .nmn l!l!.’ll 000, & fle- 1% Comwlth & Southn.. 20 “erease of T4 I insur- - .'ll $38,1 m A‘llnlt “OMM.- w For the first In mmfiu the ml W hunm- in these companies wi ,691,263,000, against $9,121 IWMM , & decrease of 15.7 per cent. New .gmlry insurance amounted to $5, 1.080,673,000, against $6,149,787,000, & d¢ «#rease of 18.2 per cent. Industrial in- “surance amounted to $2,137,521,000, against $2,305,048,000, & decrease of 7.3 cent. ' Group insurance smounted $523,069,000, mlnl'- $666,364,000, a rease of 31.5 per cent. % Protective Committee to Meet. = The Protective Committee which is g after the interests of holders of National Press Building first mort- bonds is expected to hold a meet- - #ng soon in New York. The commit- “%ee recently sent notices to the bond- lders them to deposit their nds vlv.h the Chase National Bank, . Sollowing the corporation’s failure to the interest due October 15. Ord ton, president of the vnwn Trust is & member of the commit! The Iate Elle Sheetz hld bten s &- rector ‘of the Bank of Commerce & Savings ever since the bank was or- ganized 25 years ago. His death was especially regretted by President M. D. Rosenberg and Vice President John M. Riordon, who have been connected with the bank ever since it was founded. The Pennsylvania Raflroad reports; for 9 months ended September 30, 1932, ' !.'let lneome of $6,273,815 after taxes and equal to 47 cents a share (par ‘50) on 13 162,810 shares of stock. This 9 122 19% 26 12% 18% 12% 57 59% compares with $15,265,828, or $1.16 a, 106% share on 13,160,257 shares in first 9| months of 1931, Ghuu in Financigl District. ‘The largest sale on the Washington Btock Exchange today was $1,000 Cap- ital Traction 5s, at 48. Potomac Elec- tric Power 6 per-cent preferred moved g“}w ::dgm;id while Washington way ectric_preferred changed bands at 873 and apr ‘The Treasury is offering $60,000,000 92-day Treasury bills, to be-sold to the highest bidder on a discount basis. The | bids will be dated November 23 and tenders. will be received u 2 November 31 “The offering will “be | to pay off maturing bills totaling used .GZ:W}SQWOOO Wilson, president of the Pirst National Bank, Milton, Pa., and former head of the national bank division of the American Bankers' Association, was | & guest of honor at the District Bankers" Association mid-week luncheon yester- day. He praised the work done for the e B. A.m:flnxthgllltywb'ykobtfl. ‘The 10,000 holders in this city of ‘American t’ghonc & Telegraph stock | 87% 2% N 3 . Petrol Corp of Am. 3% Phelps Dodge. . 2 Phila&Read C&I... 2 Phillips Petroleum 1% Plefce Petroleum 8% Plymouth Oil (1) 1% Poore & Co (B) 6% Congol-Nairn (60c).. 1 17 * Consol Ca pr pf 63 308 2% Consol Fm pf...... 31% Consol GasN Y (4).. © 4% Consol Laundries(1). 4 Consol Ofl Corp: .'2% Cons RR of Cuba % Consol Textile 1% Contl Baking ( 24% Contl Baking pf 17% Contl Can (2). 6% Contl Insur (1. % Cont Motors. 3% Contl Oil (Del). 24% Corn Products (3) 1% Coty, Inc. 1334 Cream of Whi(f3%). 2% Crosley Radlo.. 7% Crown Cork & Seal. . 17% Crown Cork pf(2.70). 21 Crown WP Istpf(4) 40s 15 Crucible Steel pf.... 2608 3% Cuba Co. 6 % Cuhan-Am Sugar. 3% Cuban-Am Sugar pf. 20 Crdahy Pack (%4).. ++ o I+ +1+++) L FEEEFE EF - | 28 Public Sve N J(3.20). 10% Pullman Corp (3) =8 . 1 - RPN 3% Radlo Corp pf B. 1% Radlo-Keith-Orph. 4 RRSec 11l Cent Stk. 2% Real Silk Hoslery. 1 Remington-Rand 1% Reo Motor Car. 1% Republic Steel. 5 Republic Steel pf 10 Revere Cop & Br pf. 66 - Reynolds Tob A (3) 26% Réynolds Tob B (3) K Richfield Oil. 23% ll % R Du 145 3 Rutland R R pf B9% 80% Safeway Stores (5).. 99 69 Safeway Strs v: (Ma 1% Denver & RG 1 & 6% % St L-San Francisco 54 Detroit Edison rs) % }“ gt L-s-af';:.n L. 12 Diamond Match (1) BT A e 20% Diamond Mach pf 134 % Schu jitates 7% Dome Mines (11.30).. 5 Sohuite Ret Stor b 5 Doug Alrcraft (75c). 18 Scott Paper (1.40). 1 Seaboard Air Line. 6% Seaboard Oil Del 40¢. 1 Seagraye Corp. 9% Sears Roebuck. 34 Seneca Copper. 1% Servel Inc. ... 1% Sharp & Dohme 5. Shattuck(FG) (50:). 2% Shell Union Oil 2% Simmons Co. 12 Skelly O/l pf ww..... 5% Socony Vacuum 40c.. 415 So Porto Ric S(ad0c) 8615 So Port Ric S pf(8) 15% Southern Cal Ed(2).. 6% Southern Pacific..... .2% Southern Railway. 3 Southern Railway pf. 1 sp-rk.-wimnnon 5 Spicer Mfg 8% Stand Bran 7% Stand Gas'& Blee (1) 10% Fourth Nat Inv 1.20. 9% Stand Gas&ELDL (4)+ 1 FoxFilm (A).... 3 1% Stand Invest Corp. 16 Franklin Smnpf(7). 2008 i ‘ 31% 15% Stand Ol Calif (2 10 Freepor! 26% 99 81 Stand D:} gx}n Df,{‘ 75 Gen Am Investo 37% 19% Stand Of @ 17% 4% Stone & Wel 9% Gen Am Tank Car 10% Gen Baking (2) 13% 2% Studebaker Corp. P ] 3% Gen Cable pf. wonasnl L4+1+11 FREZEER It - ¥ F - ). 80% Dupont deN db pf(6) 35% Eastman Kodak (3). 8% Elec Auto-L (1.20).. 3% Electric Boat. 74 Elec & Musical Instr, 2% Elec Pwr & Lt 98 Endicott-John pf (7) 18 EngPSpfww (5%). 12 Equl Office Bldg 1%. 2 Eureka Vac (a2). 5 Bldauy-Prem i Firestone T&R pf(6) as First Natl Stores 3%. % Fisk Rubber. . pA % Fsk Rubber 15t pf. .. 4% Florsheim Shoe (A) 63 Florsheim pf (), 3 Foster-Wheeler. . o EX-TT ST Y PAOPTIRGY - Oy §,=~ s PROPR- JUPVPR - 100 18% 9% Texas Corp (1) 2 Thatcher Mfg Co.... % Thermoid Co. . 19% Gen Foods (2) & 3% Third Avenue % Gen G {JEL I 5% 1Y T o FEEE FEFFE F FIEF IR FELE FF ¥ EREEE FF FEF + 11+ noon and, -although ranging under the preceding close, gave a somewhat bet- ter” account of itself. United States Steel common met support around 35, Union Pacific around 69 .and Atchison just below 42. Volume, however, was as low as ever and the market action indecisive. National Lead declared the 'regular dividend on its common ‘and preferred stocks. Engineers Public Service de- clared the usual preferred dividend. Phillips-Jones Corporation declared a $1.75 payment on the preferred stock, the last previous payment on which was made February 1 last. (Copyriant. 1933 VIRGINIA TOBACCO WAREHOUSES OPEN By the Associated Press. LYNCHBURG, Va., November 17— The Virginia Dark Fired Tobacco Growers' Association, claiming control of 75 per cent of the crop, opened five warehouses in Virginia yesterday. Sales were light at most points, how- ever, with offerings mostly of poor and medium quality. Independent markets opened Tues- Further South the Bright Tobacco Ascociation has been in operation about 2 month, and yesterday’s opening of activities by the Dark Association llced warehouses in operation at mcrm Blackstone, Farmville, Drakes and Bedford. Although prices were well above last year’s figures, they were not as high as growers had expected marked curtailment of the season’s crop as u result of drought. ces id for graded pri pa wobwco on the bright markets of Dan- gél:um Kenbrldn Pet.enbuu. somh Orange M(—ML. ‘l! 80; NF, tll 3 L, $14.50. Orange lugs—X3F, $14; X4F, $90.70; X5F, $5. Average prices paid for graded tobacco on the dark fired markets of Bedford, Biackstone, Farmville and Lyncmmr? $Heavy leaf, B3P-44, $12.70; thin e-r C3F-44, $10.50; C4F-44, 9.50. $1.40. These grades average nbout 32 per cent higher prices than in the 1931 crop. INVESTMENT TRUSTS NEW YORK, November 17 (A).— Over-the-counter market: (Quotations as of 1% o'clock). in view of the! coats from the 703 uublhhnmm Te- porting. The first figure was the larg- est since Aunm 1931; m second and third it hrm since October, ing output was not te 0 .ood relatively, but likewise owed marked increases, Men’s Styles Fancier. ‘The buyers in lining up new wares insist that men are more style con- sclous now than they have been in several years and that therefore will witness a return to fancier Iumnu There are reasons for this change. In the past a man wore a plain fabric suit—it may have cost $50, yet at nm lllnee it ed no better than ?m.- will predominate in '.he Dnnx men’s styles. There will ty of color and self-weave ptfgmn om present indications grays and blues will be most preminent, with less em on brown. Neat checks, WHOLESAI.E PRICES INCREASE SLIGHTLY Upward Trend Tabulated by Com- merce Department From Com- posite Average Based on 1926. By the Assoclated Press. ‘Wholesale selling prices scored a slight rise during the week ended November 12 as’ the change was tabulated from a list selected by the Commerce Depart- ment. In the table that follows the index of all selling prices is given, on Tepresenting 1926 averages as 100. In addition, the selling price of a ton 01 composite steel preducts is given for like periods: -wue- Seel, Wetk ended November 12. Previous week Bam NEW YORK BANK STOCKS NEW YORK, November 17 (#).—Over- the-counter market: m-mu-- as of 2 o'clock.) BANKS. held, what information is tted to trickle out from the plants where new models are in preparation indi- cates that not a few of the manufac- turers will in for less conservative body types their 1933 t; . This upechlly true of some of ‘middle- clumm's new model is understood to contemplate a longer wheelbase. ‘The new Plymouth also is presenting a marked change in appearance, with a slop! radiator and fenders con- structed conceal the chassis. ‘While this much is known specifi- cally of the two cars named, departures from their current types. FINANCIAL OUTLOOK IS HELD ENCOURAGING American Bankers’ President Sees Satisfactory Betterment Within Few Months. By the Assoclated Press, NEW YORK, November 17.—Belief that the country’s financial outlook is “unmistakably encouraging” was ex- pressed by Francis H. Sisson, president of the American Bankers' Association, last night. Sisson, speaking the bankers’ forum dinner, said '.he current situation shows a “very satisfactory” improve- ment over conditions of a few months ago, “and it is now apparent that the Federal Reserve Banks have successfully withstood the most severe test since their creation in 1913.” The closing of approximately 4,000 banks during the last few years, Sisson said, “has made the country’s structure stronger than any of the sweeping plans for legislative reforms | could have done.” ‘The mfi:fll funds for the 30,- 800 banks e g in 1921, he said, was $6,360,000,000, whereas today the 19,- 500 banks in tion have $8,500,- 000,000 in uwfl “‘Of - course,” Sisson conunued “the nnlncm readjustment process is far from completed, and in some sections of the country the situation is not quite s0_favorable, ly in rural and wuzuluu. ‘wise of the new models are being with- | type Com: iber 31, as 1032 %0 the stocknoiders of recor on Decem| appeir at the close of busine TP1052" "The Transter. Books w closed. We Recommend SUPER CORPORATION OF | AMERICA TRUST SHARES ‘ Ferris, Woodroof & Lewis, Inc. estment Securil Washington Buliding Nt 50258 Auchincloss Parker & Redpath MEMBERS: New York Stock Ezchange Washington Stock Ezchange New York Curb Ezchange (Associate) 719 Fifteenth Street TELEPHONE: MEt. 3118 21 Utility Mortgage Bonds- Analyzed Ananalysisof21 well-| knawnmm bonds of 17 public utility opera companies shows that the chg State Electric & Gas Corpomon bonds are selli banks in New York A detailed analy: of these 21 based on tests mmlu to those !nl(nr—h’ were greatly that the directors iy declmfl quarterly dividend | e - H 76 Gen Mills pf 3 94 17 10 Third NatlIny (1)... avable Jan- % Gen Motora (1 5% 2 Tide Water Asso Oil. war 16 tb stock of record Devember 30, | 2 CaniOutaooe Al g 3 | 60 20 Tide Water Aspt (§) S L A 4 Gen Outdoor Adv 23 7% Timken Roller Bg(1) T% 2% Transamerica Corp F Gold Stocks Increase. Py s g oo : B4 1 Tek-Cond Corp-... NEW YORK, November 17 (P).—A 10% Gillette Saf RAS (1), BusGan Binel gin o $1608300 in American 8 Gimbel Bros bl BT TwiaCity BapTrpf: iocks was shown tedsy 84 Glidden Co. 3% % Ulen& Co. E Reserve Bank's daily 2% Gobel (Adolf; 5 15% Un Carbide & C(1.20) 84 Gold Dust ( 27% Unon Padific (5) 2 Goodrich (BF) 6% Unit Atrcraft 5% Goodyear Tire&Ru 6% Unit Carbon. T Gotham Silk Hoslery 3 Unit Cigar Stores. 1 Graham-Paig . 3% UnitCorp (40c). 143% Grant (WT) (1)..... : 20 Unit Corp pf (3). 54 Great Northern pf. A% Unit Fruit (3). 4 Y B ERRE. E EERE xplana than inability or disinclination of our system, as a whole, to finance : sound expansion of industry- and | by banks and insurance companies, vynll be forwarded on request. » FLl++1+1 » (s o EE] bt FHETED Markets to Be Studied. NEW YORK. November 17 (P).—The and Un- General Utility Sncurlfi» Incorporated 61 Broadway New York ey Kindly forward analysis L—68 b E..::-..._....u..sz TT] [t R Y +14 FaRE FEE ¥ £ Wi .. BFRrE SIBEFF % i Fregasans 8 +11 e ae i, Ero BE8Ps pp-5Et-gpugis v B2, 53 of $611,000 gold at San Fran There were no exports, 1+ FE o