Evening Star Newspaper, January 5, 1933, Page 14

FINANCIAL, D. C. THURSDAY, JANUARY 5, 1933. FINANCIAL. STODKLIST ESY INFAALDEALINS " A—14 - wxx LD BANK LAGKS - EATENSON MONEY THE EVENING STAR, WASHINGTON, this_edition. yesterday’s paper. Net Add 00. High. Low. Close. Chge. 5% 5 5t + e NOTE—Today's individ: 3 Sales of each stock in this edition are from yesterday's —1932— Stock and - Sales— Net. High. Low. _ Dividend Rate. Aad 00. mfin‘n‘, !‘5“' Close. Chge. v 1 sales are mot given in this edition. per. NOTE—Teday’s individual sales Sales of each stock in this edilion are from yesterdas's paper. 1982— Stock and Sales— Net igh. . Low. Dividend Rate. Add 00. High. Low. Close. Chge. 812 2% Tex PacificLand Tr.. 9 5 4% 5 4 siven in this edition. Sales of each stock —1032 High. Lo Dividend Rate. 11% 37 Phelps Dodge........ 36 ay K in Stock and Dividend Rate. 5% + % 214 Fed Water Service A. 1 Add 00. High. 31y +% b3 0% 14~ 1614 6315 31y 16% 4 % 8 BY EDWARD C. STONE. 8 Of special interest to the farming fi; interests of Maryland, Virginia and| 5 ° West Virginia is an announcement made today in Baliimore by Charl £. Jackson, president of the Federal Land Bank of that city, stating that the bank has pr exhausted the Federal funds allotted to it for the purpose of granting exiensions on in- stallments on overdue first farm mortgages. “The funds Land Bank of 000,000 earm: used by the tentions on installme $1.454,245.”. said: Mr. proximately this fuil amount has been used in the granting of extensions both in the States covered by the bank, Virginia, Pennsylvana, West Virginia. | Maryland and Delawere, and in Puerto Rico. All of our extensions are granted | only after careful inquiry has been made concerning the borrowers' ability | to pay, provided there is a reasonable | advance in the prices.of agricultural| commodities. We also take into con-| sideration the pasi record of the ber- | rowers in paying installments during| times ands o sting_indebt- | edness. We require. of course, that the co-operation be not all one-sided. “It is the policy of the Federal Land Bank of Baltimore to consult with and be guided by, to a very large extent the recommendations of the national farm loan associations through which the loans were made by the bank. This is only fair to the associations ‘ for they guarantee the loans to the Federal Land Bank ) +In_addition to_the extensions which have been granted, the bank is carrying ' a large number of borrowers who have . not signed formal applications for ex- tensions. All told, 10,839 loans are be- ing carried, the principal of which smounts 1o $29.284937. Loans in| process of foreclosure, as compared | with this number of delinquents, amounted to only 4.2 per cent,” Mr.| Jackson said. Sees Insurance Gains in 1933. | Karl S. Hoffman, general agent of the National Life Insurance Co. of Ver- | mont, believes economic_conditions are | going to be better in 1933 in Wash-| 795 ington. While entertaining members of | 15a the local agency at the Hamilton | Hotel, he said that December business | in his agency had been the best for| several years. He looks for even better results hext- year. surpassed 1931. | Mr. Hoffman reported that Vernon | E. Brown, jr., was the largest Decem- ber producer and Joseph F. P. New- hall largest for the whole year. The local agency men are now working hard | to qualify for the annual convention in | Chicago in September. | As guests of Mr. and Mrs. Hoffman &t the luncheon were W. John Base- hore, Phillips Blake, Robert Brown, Vernon E. Brown, Edna M. Clyburn, Clifford T. Day, Carl S. Engel, Arthur W. Greer, William Harmon, J. Leo Kolb, jr: Eva V. Lunsford, Wiliam H. P. McKinley, Joseph F. P. Newhall, Georgia K. Walker and Elnora V. Zim- merman. Stonier to Address D. C. Bankers. ‘The midyear meeting of the Educa- tional Committee, Board of Consuls, members of the faculty, committee chairmen, officers and governors of Washington Chapter, American Insti- tute of Banking ,will take place next Wednesday evening, January 11, at 8 o'clock, in the American Security & Trust Building. Dr. Harold Stonier, national educa- tional director of the banking institute, will be the principal speaker. As usual, | reports will be submitted by the various | 914 committee chairmen. A buffet supper | 65% will be served. 5 Leslie L. Vivian, manager of the in- | 15 vestment department of Fenner, Beane | 12% & Ungerleider, which he established in | 7' June, 1931, has been admitted as a| 20% general partner in the firm. Mr, Vivian | 15% started his Wall Street career in 1909 | 3114 with Kissel, Kinnicutt & Co.. and was | 20% later a member of the New York Stock | 5% Exchange firms of Floyd-Jones, Vivian | 151 & Co. and of Bauer, Pogue, Pond & Vivian. He was secretary of the Bond Club.of New York in 1921 and also served as a governor of the club. Ayres Foresees Business Turn. "We shall look back on the year 1933 as the great year of debate,” Col. Leon- ard P. Ayres of the Cleveland Trust Co,, says. “There will be serious debates about inflation, on debt readjustments. on.the Federal budget and, in short, on everything that has assumed impor- tance as the depression wears on. But probably at the end of the year we will be doing business with the same dollar| 50 ang in the same old way and we prob- | 31% ably will find that 1933 will be the| 95 tutning point in business, just as.we| 107% probably can s has marked the turning point in fi 2 “We will have to do one of two things in 1933. We will either the price structure to meet or we will have to make whatever read- justments pecessary to enable us to carry on business profitably at or near present levels.” Funds for Rene‘;val of Notes I on Overdue Payments Exhausted. alotted to the Fed alt.more from the $2 ed by Congress to be banks in granting ex- | s amounted to Jackson. “Ap- 87k 2 3714 21% Business in 1932 i 16% 120 our debts Today’s Trading on Exchange. Washington Gas Light 6s, series A opened trading on the Washington Stock Exchange today with three $1,000 sales, all made at 100, Washington Gas 6s also active, $1,00 $1.000 more a! Capital Tract 10 shares selling at 10 ‘more moving at closed with 117; b series B, opened d closed wit The market 121, asked. on 5s 2lso appeared on two $1,000 sales being the same price as the and the bhoard t recorded last previc Two ares of Potomac Electric Power 51~ per cent preferred changed hands at 107. Graymur Approval Sought. Tri-Continental Ccrporation quire the assets of Gravmur Corpc agement investm v G. special 4. If the holders of h share of Graymur _stc < principal amount. of ntconvertible . debentures 1 and one | 497 share of Tri-Continental common stock, | New York dispatches state Upon eompletion in accordance Tuese i of Tri-Contir 060,000 of the tures and $5.126, Co., Inc.. 5 pe were assum 140 funded debt ill_consist of $2,- convertible deben- Equity which | ntinental last | 5% 181, 183 7 593, | 1051 101% as formed in D outstanding shares of capital stock of no par value MONEY RATES STRONGER. By the d Press. Time money averages strengthened | slightly during the week ended De-| 32% cember 31 on the basis of calculations| 100' by the Commerce Departanent, but call 21 funds remained unchanged. In the| 4 table that follows the average rate for| 16 both classes of money is given for com-| 56' parable weeks, as reported by the de-| 64 partment: | 38 Time. Call.! 57 Week ended December 31.. 055 1.00| 11% Previous week. ..." . 050 100 5% came-week Jast year + 340 | 3307 1% 1 87% 974 ¥'s 1% Adams Express. o Adams Exp pf (5) ‘Adams Millis (2).. AddressogTaph. AMiliated Prod 1.60 Alr Reduction (3) : Aiway Elec Appl. .. Alaska Juneau(60c). Albeny Wrap Paper Alleghany Corp. Alleg Corp pf $3 Alleg Cp pf $40 ww. Alleg Co pf $30 xw. Aliled Chem & D (6). 4 Allied Chem pf (1). ., Allis-Chalmers Mfg Amerada Corp (2) Am Ag Chem (Del). Am Bank Note. Am Beet Sugar. ... Am Beet Sugar pf Am Can (4) Am Car & Foundry. . Am Car&Foundry pf. Am Chain Am Como'l Alcohol. . Am Encaustic Tiling. Am & Forelgn Pwr. . Am & For Pwr pf(7). Am & For Pwr 24 pf. ‘Am Haw Stship (1). Am Home Prod 4.20 Am Ice Co % : Am International.. Am La France&Fom. Am La Fr & Fom pf. Am Locomotlive. .... Am Mach&Fdy (80c). Am Metal Co. : Am Metal pf. Am News (133). Am Fower & Lig! AmP&Ltpf A (234). Am Pwr & Lt pf (3). Am Radiator. . ‘Am Rolling Mills. Am Ship & Com. Am Sm & Ref Am Sm & Ref 6% Am Sm & Ref 77 Am Steel Foundry Am Stores (12%). Am Sugar (2).... Am Tel & Tel (9). 3 Am Tobacco (16). Am Tobacco B (16... Am Tobacco pt (6).. Am Type Fdrspf.... Am Water Works(1). Am Wat Wks ctfs(1) Am Woolen. . - Am Woolen pf. Anaconda Gopper. Anchor Cap pf (6%). Armour of Del pf(7). Armour of 111 (A)... Armour of 111 (B). Armour of Il p: Assc Dry Good: Atchison. ... 35 Atchison pf (5). 9% Atlantic Coast Lin; 8 Atlantic Refining(1). 45'; Atlas Powder pt (6). 28% Auburn Auto (d4) 115 Avation Corp (Del). e 2 Baldwin Locomot.. . 8 Baldwin Loconiot pf. 3% Baltimore & Ohlo.... 6 Baltimore & Ohio pf. Bangor & Arostk(2). Bang & Aroos pf (7). Barker Bros. Barnsdall Corp 5 Beatrice Creamery.. Beech-Nut Pkg (3).. Belding-Hemingway. Belg N Ry pt pf 4.09. Bendix Aviation 37 Best & Co..... 2 T Bethlehem Steel..... 26 Bethlehem Steel pf.. 14 Bloomingdale Bros.. 620s Bonn Alumn & Br: 6 Borden Co (2).. 29 Borg Warner Briges Mfg Co Briggs & Strat (1). Bkyn Manhat Tran. . Bkiyn&Queens pf(6). Bklyn Union Gas(5). Budd (EG) Mfg Budd Wheel..... Burroughs AM(40¢). Bush Terminal Bush Term’l deb stk. 100s Bush Terminal pf(7) Bvers (A M).. 4% California Packing. 1'3 Calumet & Hecla, 1% Canadian Pacific. 214 Capital Admin (A). 16% Case (J 1) Co... 30 Case (J1) Copt () 4% Caterplllar Trac 50c. 1% Celanese Corp. 11 Celotex pf. g T8 Cent Aguirre (1%). Cerro de Pasco Ches & Ohlo (2%) Chesapeake Corp (2) Chi Great Western. . Chi Great Westn pt Chi Mi] StP & Pac Chi Mil'StP & Pac pf. Chi & Northwestern. Chi & Northwest pf. Chi Pneumatic Tool Chi Pneu Tool pt.... s Chi Rock 1& Pac.... Chi R I & Pac 6% f.. “hi R1& Pac 7% pf.. Chi Yellow Cab (1).. Chrysler Corp (1).... Ice & Fuel (2 City Ice&Fuel pt 6 City Stores. ... Coca-Cola Co (7). Coca Cola (A) (3) Colgate-Palm-P (1 Colg-Palm-P pf (6) Collins & Alkman. . Colo Fuel & Iron. ... Columbia Gas (b1).. C « C of. »f. “olumb Gas pf A (6) “olumbia Pic ctfs. . “olumb Carbon (2).. Commercial Gredit. Comel CreditA (3)... 2 Comcl Cred 15t(635). 108 Comecl Inv Trust (2). 1 Comel Inv Tr pf 6%. Comel Inv Tr pf (7). Comel Solv (60¢). Comwlth & Southn. . Comwlth & Sou Df(6) Congol-Nairn (§0e).. 1 Congress Cigar (1).. 12 Consol Cer prof 6%.. 87s Con Cgr prof xwbla. 10s C ol Cigars pf(7 Consol Film. Congol Film p Consol Gas Consol Gas NY Consol Laund Consol Ofl Corp. Consol Ol pf (8) Consol Textile Cont! Baking (A). Contl Baking (B).. Contl Baking pf (4) % Contl Can (2)....... Contl Diamond Fibre Contl Insur (1.20) Cont Motors. ... Contl Oil (Del). Corn Products (3) Corn Prod pf (1) Coty. Inc " Creum of Wht(121() Crown Cork & Seal. . Crown C&S pf (2.0 Crucible Steel. . Crucible Steel pf . Crdahy Pack (2%). urtis Publishing. Curtiss-Wright. . : Curtiss-Wright (A) Davison Chemical Del & Hudson (6) . Del Lack & Westn Detroit Edison (6). Diamond Match (1) Dome Mines (i1.10) Dominion Stores 1.2 Doug Aireraft (T5e). Dresser Mfg (A). Drug Qorp (4) 22 Dupont de Nem 149 0% DupontdeNdbpf(6) 3 87 Duques Lt 1st pf (5). 508 35% Eastman Kodak (3). 20 3 Baton MfgCo....... 1 ec Auto-L (1.20).. 61 Eiec Auto Lite pf(7). 10s Electric Boat. 1 Elec & Musical . 5 Elec Pwr & Lt....,. 26 ElecPwr&Lt(2)... 2 Elec Pwr&Lt pf 2.33. 2 Elec Storage Bat (2), 36 EpsPSpfww (5%). 1 N e | 2% Eris R R 1st pf. .. 2 9% Exchange Buf (23¢). 30s 100s 1 50 50 15 50 +1 ++ FEtE Lkt 338 993, 6'4 Federal DeptS(60c) 6 Fidelity-Phoen 1.20. 104 Firestone T & R (1). 46 Firestone T&R pf(6) 36 First Natl Stores 2%, 1 Foundation Co c 10% Fourth Nat Inv 1.10. 1 YoxFilm (A). . 10 Freeport-Texas (2).. '3 Gen Am Investors. .. 9% Gen Am Tank Car(1) 4% Gen Asphalt. .o 3% Gen Cable pf. . Gen Baking (2). Gen Baking pf (8 Gen Bronze Gen Electric Gen Elec spee (60¢).. Gen Foods (2)... Gen Gas & Elec (A Gen Mills pt (6). Gen Motors (1) ¢ Gen Printing Ink Gen Prig Ink pf (6). (3en Public Service. . Gen Rwy Signal (1)., Gillette Saf Raz (1). Gimbel Bros. o Gimbel Bros pf Glidden Co. Gobel (Adolf). i0ld Dust (1.20) oodrich (B F) Goodrich (BF) pf... Goodyear Tire&Rub. 1k Hosiery alge. ... nion pt (3).. 4 Grant (W T) (1)..... Great Northern pf... v Grunow Mobile Hackensack W (1) Halin Dept Stores. Hanna pf (7) Hartman Corp (A).. Hartmari Corp (B) Hayes Body..... Hercules Powder 114 Hershey Choe (5).. Hershey Choe pf (15) Holland Furnace Houdaille-T{ersh Househd Fin pf 4 Houston O1l. ... 74 Howe Sound (40c) 27, Hudson Motor Car 113 Hupp Motors 4%, Illinois Central 714 Industrial Ray. 14% Ingersoll-Rand (2). 10 Inland Steel. ... Inspiration Copper. . Insuranshares (Del) Insuranshares (Md). Interboro Rap Trans. Int Bus Mach (6) Int Carriers Ltd Int Cement..... Int Combustion. Int Combustion pf Int Harvester (1.20). Int Harvester pf (7). Int Hydro-Elec (A). Int Nickel of Can. » Int Paper & Pwr (A). Int Paper & Pwr pf.. Int Printing Ink Int Salt (1% Irt Shoe ( Irt Silver. Int Silver pf (4). Int Tele & Teleg. Jowa Central R T Isiand Creck Coal(2) % Jewel Tea Co (3).. 10 Johns-Manville. 45, Johns-Manv pf (7)., n City Sou pf er (3) & Co ly Spring Tir Kelsey-Haves W] Kelvinator Corp. Kennecott Copper. .. Kinney (G R) Copf.. ) Co (1).. Lambert Co (4) Lee Rubber & Tire. Lehman Lehn & Fink Liggett & Myers(15) Ligg & Myers B (15). Liquid Carbanic. Loew’s, Inc (3). LoftInc..... . Loose-Wiles Bis (2). Lorillard (P) (1.20). ; Louisiana Oil. . hou Gas&EI A (1%). Louisville & Nash. .. Ludlum Steel. McCall Corpn (2). McCrory Stores B. .. MeCrory Strs pf (6). McIntyre Pore Mii). McKeesport T P (4). McKesson & Robbins McKesson & Robs pf. McLellan Store c McLellan Stores pf.. Mack Trucks (1).... Maey (RH) & Co (2) Marine Midid (80c). . Marmon Motor Car. . Marshall Field & Co. Mathieson Alk (1%). May Dept Stores (1) Menzel Co. s Miami Copper. Mid Continent Petm. Midland Steel Prod. . Minn Moline Pow. . . MStP&S S MIsd(4) Mo Kan & Texas. .... Mo Kan & Texas pf.. Missouri Pacific. = Missourl Pacific pf. . Monsanto Chem 1% .. Montgomery Ward. . Mother Lode. Motor Meter Motor Prod ( Motor Wheel Mullins Mfg %« Murray Corp sh Chat & t Acme Co Strs 1st pf. at Distillers. t Distillers pf(t3) NatPwr &Lt (1)... Nat Ry Mex 2d pf. 2 Nat Steel (50c) Nat Supply Co. . 2 Nat Supply pf. ¥ Central ¢ Chicago 1& St Lpf. 1& Hart pf t& Western. . Shipbullding Y Steam pf (6). 90 N Y Steam 1stpf(7). 10% Noranda Min (a1.10) 14 Norfolk & Southe Norfolk & West (8). Norf & Westn pf (4). orth Am Aviation 13% Nor Amer(b10%st| 513 Northern Pacific Y Y ¥ Y ¥ Y X X b Ohio Ol (a50c). .. .. '3 Oliver Farm Equip. . 215 Oliver F Eq prpf A. 113 Omnibus Corp. .. 9 Otis Elevator (1). 11 Otis Steel 314 Otis Steel prpf... 26 Outlet Co (4) s 111 Gla. Pacific Gas & El (2).. Pacific Lighting (3). Pacific Mills Pacific T & T pf (6).. Packard Motor Car Paramount Publix Parmelee Transport. Pathe Exchange (A). Penick & Ford (1).., Penney (J C) (1.80). Penny (J C) pt (6).. Penna Railroad . Pere Marquette pf... 313 Pere Marguette pr pf 3 Petrol Corpof Am... 9ty 1% 135 6114 54y 2% 194 41 18 PhilaCo6% (3)..... 7% 2 Phila& ReadC&I... 84 2 Philiips Petroleum Pierce Oil . Pillsbury Flour(60c) Pitts United pt.. Port Ric Am Tob( Steel Car. .. cel Car pf. Proctor & Gamble(2) 17 Proc & Gamb pf (5), 60s 9%, Prod & Refiners pf. .. 1408 60 Public Sve N J(3.20). 58 9074 62 Public Sve NJ pf (5). 1021 710 lic Sve NJ pf (6). 130% 100 Public Sve NJ pf (8). 28 103 Pullman Corp (3) Purity Bakeries (1 Radio Corp pf B..... dic-Kelth-Orph. Reo Motor Car. Republic Steel. Republic < vere Cop & Br pf. . nolds Tob A (3).. Revnolds Tob B (3).. Richfield Ofl. ... Rossia Ins of Amer. . 1 Dutch § Stores (3).. St Joseph Lead an Fran pf.... Schulte Retail Stores ott Paper (1.40)... board Air Line. . . aboard Oll Del 40¢. ars Roebuck. . neca Copper rvel Inc. .. Sharp & Dohme Sharp &Dohme pf(2) hattuck (FG) (50¢). 11 Unfon Ofl.. 11 Unfon Oil pt. Solv Am pt wiw So Port Ric Sug 1.60. Southern Cal Ba(2).. Southern Pacific. . Southern Railway. .. Southern Railway pf 5 So Ry M & O ctfs(4). palding (A G)...... Sparks-Withington. . Standard Brands (1). Stand Brands pf (7 Stand Com Toba 3 nd Gas&F an 31% 100% Stand Oil Calif (2).. Stand Oil Exp pf (5). 165 Stand O1l Kansas. ... 37% 19% Stand OIIN J (12). 2 Sterling Secur (A) Stewart Warner one & Webste; udebaker Cor| Studebaker pf (7). .. Superheater Co(50¢c). Superior Ofl iperior Steel . mington (A) . 17 13% 10474 14 4N 18% 9% Texas Corp (1)...... 26% 12 Tex Gult Sulph (2).. 30 e T 7 Thermol 4 4% — | 175 10 Third N 5% 5 5% % 6% 104 3 30 4 % Timken 113 Tri-Con Tide Water Asso Oil. Timken-Detroit Axle OO 5 oihis 1% 1% atInv (900).. 2 15 5 15 3% 3 + % —115 Roller Bg(1) 2!4 Transamerica Corp tl Corp. 19% Tr.co Products( Und-Ell Un Carbide & C(1.20) Union Pacific (6).... -Fisher (50c) 104 140 Un Tank Car (1.40) Unit Afrcraft. . Unit Aircraft pf (3). Unit Carbon. .. Unit Cigar Stores, Unit Corp (40¢) Unit Corp of (3). Unit Fruit (2).. Unit Gas&Im (1 . 2 Unit Gas&Im pf (5).. 99! ;'S & Forn S & Forn Sec pf... 50 SGyp R S Indv 7S Lea Lea: Rea Pipe & Fdry (2).. Rubber. .. 10 Smt 21% A 12 Univ Le [EE el 69% 20 + 4 4% s Wabash Wabash + B teel. . 5115 U S Steel pt (7) 3 United Stores (A). Univ Pipe & Rad. Univ Pipe & Rad p! 115 Util Pwr & Lt (A). 5% Vanadium Corp 2 Van Raalte. . | Va-Car Chem 7% pt. 343 T Vulcan Detinning + % - % ' -4 4% - % 1% um (160) " 2 + Gypsum pf (7) Hoffman. ... 1s Alcohol. ther . ther (A)..... Ity & Imp g & Ref (1).. e e dNatcanand af Tob (2). RR P ( % Ward Baking (B). Warn Bros Pictures. Warren Wesson Wesson Bros otl O&S West Pa Elec pf (6).. 280s West Pa Bl pf (7)... 408 4 West Pa Pwr pf (6). x60s est Pa Pwr pf (7). X208 312 Western Dairy pt A. 1 1'4 Western Maryland. . 3 12% Western Union...... 60 9% Westing’se Air B(1). 9 15% Westinghouse Elec. . 52!3 Westinghse 1st (313) 28 Wileox Oil & Gas 127 408 % Willys-Overland. . A % Wilson & Co.. 1% Wilson & Co (A). 11 Wilson & Co pf.. 22 Woolwos T el T 27T 4 10:30 AM 1:30 P.M 3 Dividend rates as given in the above table a 1, | Payments based on the latest quarterly or haif- | +Unit of trading |42 1o stock stock. e Pa: | in stock. a Paid le_in 1 Plus ck. m Pald last year—no regular rate. % | p Pavable in scrip. Worthington Pump. . 57 25% Wriglev (Wm) (3).. 1% Yellow Truck. Youngstown Sh&Tu. Zenith Radio Sales of Stocks on New York Exchange. Tth (2.40) 1415 374 3% 124 + % N+ % 290.000 12:00 Noon. 840,000 590,000 2:10 P.M. 980,000 he annual cash a1ly declarations. tPartly extra. tPius this year—no regular rate. b Payable in cash or stock. {Plus 87% in stock. h Plus $1 1n special preferred stock. k Plus 3% in D Plus 5% in stoek. less than 100 shares. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, January 5.—Following is today’s summary of corporation news prepared by Standard Statistics Co., Inc, New York, for the Associated Press. Electrical Equipment and Radio. Westinghouse Electric & Manufacturing Co.—Action on preferred dividend se: for January 11 Food Preducts. Wilson & Co. net income, year ended October 31, $51.336 vs. deficit $2,017,155. Wrigley (Wm) Jr. Co. reported estate of late William Wrigley will re- tain ownership of 456462 shares of capital stock. Household Products. Colgate-Palmolive-Peet Co. reduced substantjally its prices on principal soap brands. Metals (Non-Ferrous). Rean Antelope Copper Mines Ltd.— Ore treated by company's mill in December, 1932, totaled 136,300 tons, averaging 3.68 per cent copper. Miscelleneous. Glidden Co.—Preferred share earn- ings. year ended October 31, $7.85 vs. $2.50. oil British American Oil Co., Ltd.—Year’s dividend ~requirements reported well covered. Producers & Refiners Corporation— Net income before interest, in perjod from May 8 to November 30, 1932, was $248,042 Paper & Paper Products. West Virginia Pulp & Paper—Pre- ferred share earnings, year ended Oc- tober 31, 19 cents vs. $5.67. Railrcad & Railroad Equipment. St. Louis-San Francisco Raflway— Failed to pay $27,221 quarterly interest on $1,800,000 loan from Reconstruction Finance Corporation. Retail Trade. Florsheim Shoe Co.—Deficit year ended October 31, $40,529 vs. net in- come, $647,448. Great Atlantic & Pacific Tea Co— | Eastern division reduced price of pop- . STAKE ABROAD ROPS 8 BILLIONS Shrinkage | { ments Is Computed by Stock | Exchange Member. | | | | in American Invest- | By the Associated Press. NEW YORK, January 5.—American investments abroad, having a face value of $17,163,620,500 at the end of 1932, are worth in current values only about | nine billion dollars, it was estimated | today by Dr. Max Winkler of the New | York Stock Exchange firm of Bernard, | Winkler & Co. and head of the Amer- | ican Council | ers, Inc. This estimate of current value is | based on late quotations for that part | of foreign investments which is repre- | sented by securities, with an estimated | value of the Nation's so-called direct investments, namely, plants and prop- erties in foreign countries owned by American interests. Our foreign investments, measured by par on face values as distinguished from actual market values, fell more than $800,000,000 during the year from a total of $17.986,106,000 on January 1, of Foreign Bondhold-| 1932. "This, said Winkler, marks the | first time in the history of the United | States as a creditor Nation that our | investments have declined in amount from the preceding year. This decline, he said, was due to a large repatriation of foreign, particularly | European and Japanese, dollar bonds; the repayment of matured loans and to operations of sinking funds in re- spect to existing issues. NEW YORK BANK STOCKS | the-counter market: BANKS. (Quotations as of 2 o'clock.) Bid. Asked. 8Ya 160 1460 Chase National ( Commercial (%) . Fifth Avenue (3%} | Pirst National (100) National City (). feablGs Ty e | TRUST COMPANIES. Bankers (3) .... Brooklyn Trust (1 Central Hanover ( Chemical (1.80) Continental (1.20)" Corn Exchange Empire (1 | Guaranty | Trving (1.60) | Manufacturers s |NY Title and Mortgage | New York Trust (5) | Title G'& T | United States (60} “Includes extra. face NEW YORK, January 5 (). —Over- | |Trading Shrinks, However, as Offerings Become More Numerous, BY GEORGE T. HUGHES. Special Dispatch to The Star. ] NEW YORK, January 5.—The Btock Market left off today with fractional | changes. It was firm to the last | hour, when it weakened slightly, but on | decreased volume. The Street was greatly shocked at the news of the sudden death of former President Coolidge. The market started in about where {1t left off Wednesday. Trading, how- | ever, was not as active, and stocks | were _more freely offered than they had been in the last hour of the pre- ceding session, when the sharpest rise was recorded. The tendency was to reappraise the political outlook, discovering if possible what basis there was for a rally in stocks at this time. The most con- servative opinion was that, although | there may be much talk about “in- | flation” and decreasing the “purchas- ing power of the dollar,” there was no ltkelihood of action at this session of | Congress and perhaps out in the spe- | cial session, y The dollar was stronger in the inter- national market, but it was not clear Whether this was due to reconsideration | by the speculators who had been sell- ing it yesterday or to official contral of the market. Sterling cables were off | 3-16 and French francs 7-16 at the | opening on this side. Commodity mar- kets likewise were irregular, with cot- }l‘on substantially lower in the first our. | On the side of advance the leader of | the stock market this morning was | American Can, up nearly 2 points. | Columbian Carbon gained over a point. In the railway group, Union Pacific crossed 74 for the first time on this movement and Atchison was fractional- ‘ly higher, but all these gains were | shaded before noon. Meanwhile, there | was realizing in American Telephone, | Union " Carbide, Allied Chemical and \other stocks which had been so strong )‘esterdlf'. Electric output for the week ended December 31 was 1,414,710,000 kilowatt bours, against 1,523,652,000 in the same week of 1931, but the comparison was vitiated by the inclusion of the Christ- mas holiday in one week and not in the other. The same objection applied to any inferences from car loadings state- ments of the New York Central and the | Pennsylvania. The financial world | neecs calendar reform for statistical reasons, if no other. Will Attend Credit Parley. NEW YORK, January 5 (#).—F. Ab- bot Goodhue, president of the Bank of Manhattan Co will sail for Germany January 21, wich Albert H. Wiggin of the Chase National Bank, to represent American banks at the conferences on the 'Gefl'nln “standstill” credit agree- ment. - Aok Tickets to all public entertainments | in ‘Peru are to be taxed. | ANNUITY SPECIALIST And Complete lnnr:nee Protection LEROY GOFF 1036 Woodward Bldg. INVESTMENT SUGGESTIONS Upon Request i | Ferris, Woodroof & Lewis, Inc. | Investment Securities lding X Authorized Service United American Bosch Magneto Corp. (Robert Bosch & American Bosch) & Splitdorf-Magnetos MILLER-DUDLEY CO. 1716 14th St. N.W. North 1583-4 | Guaranty Trust Company | of New York | LONDON PARIS | | ular cigarettes to $1.19 from $1.25 a | carton; no change planned in price of packages of 20, now retailing at two for 25 cents. U. S. TREASURY BALANCE. By the Associated Press. Treasury receipts for January 3 were $156.902.063.62; expenditures, $179,614,- 676.06; balance, $532,039,382.31, Cus- toms duties for three days of January were $1,288,836.87. PA];IS BOURSE PR-I—CES. PARIS, January 5 (#).—Three per cent rentes, 77 francs 60 centimes; 415 per cent. rentes, 93.90. Exchange on London, 85.47. dollar was quoted at 25.5715. Inventories Low. NEW YORK, January 5 (#).—Retail stores specializing in dry goods ended 1932 with low inventories and are in a favorable position to benefit from general trade improvement, says R. G. Dun & Co. L MONEY IN SAFE 6% FIRST MORTGAGES We offer a list of well chosen, ingome- producing properties in_the Nation's Caoit “secured by direct First Mortgage and backed by our enormous resources: In Denominations as Low as $100 Monthly Payments If Desired REAL ESTATE MORTGAGE AND ARANTY CORP. 1610 K 8 —_— T INVEST YOUR XMAS Money on Hand to Loan on First Deed of Trust [ %o Interest Reasonable Commission and Prompt Replies to Applications JAMES F. SHEA 643 Indiana Ave. N.W, The | Public Securities Other Securities Bank Buildings | | Surplus Fund.... Accrued Interest, Stock of the Federal Reserve Bank...... Undivided Profits 140 Broadway BRUSSELS LIVERPOOL RESOURCES Cash on Hand, in Federal Reserve Bank, and due from Banks and Bankers U. S. Government Bonds and Certificates. . . Loans and Bills Purchased. .. ... .. Re Real Estate Bonds and Mortgages. . Items in Transit with Foreign Branches. Credits Granted on Acceptances Accrued Interest and Accounts Receivable. . $ HAVRE ANTWERP Condensed Statement, December 31, 1932 197,891,874.27 527,071,010.31 79,865,101.22 7,800,000.00 24,953,391.87 456,157,496.34 2,391,701.10 7,972,124.51 85,968,777.36 14,322,480.02 6,393,017.22 $1,410,786,974.22 —_—— L...ZILTTIES $° 90,000,000.00 170,000,000.00 11,233,494.33 $ Miscellaneous Accounts Payable, Reserve for Taxes, etc. Acceptances. . . .. Liability)as Endorser on Acceptances and Foreign Bills . . Agreements to Repurchase Securities Sald. . posits . $1,018,967,670.00 271,233,49}.33 6,512,828.82 85,968,777.36 139,165.00 8,154,491,17 19,810,547.54 1,038,778,217.54