Evening Star Newspaper, January 10, 1933, Page 14

EWA——I‘ o FINANCIAL.S FINANCIAL. WASHINGTON BANK THE EVENING STAR, WASHINGTON, | STOCKS GO HIGHER y ! , ed TE—Today's ind les are mot given in this edition. OTE—Today's individual sales are not give individual sales are not given DEPUS"‘S IJSTEU’ B g R T B Bl SR A PR o — 4K muo'.‘.'..vle"fn- eerads's paver, " | sates ot cachstock n i edition 3re from yeaterday’s e, | % each stock In this edluion re from yesterd Sal N : 3 Pazy es— Add 00 High. Low. 17 5% 5 Auditor Savage Gives Official {. Report on All Local In- ¥ stitutions. o L4 BY EDWARD C. STONE. Audley A. P. Savage, auditor of the National Savings & Trust Co., com- pleted a tabulation today showing the total deposits in every bank in Wash- ington, as requested in the controller's call asking for the condition of all local banking_institutions on December 31, 1932. This compilation shows the fol- lowing deposits: National Banks. Banks. Bank of Washington Columbia Commercial . District Federal-American i Franklin g 24 Liberty oue | OB 7,075,718.17 3. 75.6 Lincoln 5,850,814.28 Metropolitan . 18,731,804.00 National Capitel . 1,647,004.79 Riggs . . 62.191,662.75 Second 5,853,921.16 Total $147,729,029.56 Banks. Anacostia ... cevee Chevy Chase . e Commerce and Savings.. East Washington . F Industrial . . McLachlen & N Morris Plan Bank . $1,243,840.86 889,983.40 1,506,535.47 702,838.83 621,384.04 1.990,763.75 1,564,125.27 Mount Vernon . Northeast . Park Potomac z Security Sav. and Com. Seventh Street . . United States . . Washington Mechanics. . Washington Savings .... ‘Wood.-Lang. & Com 2.416,425.46 41273260 40254632 vv. $20,499,145.06 Trust Companies. Security ..... $31480,002.64 i‘al\'nl;;‘ec;n e . 479963828 National Savings . . 16,151,390.05 Union Trust .. . 9,236,348.27 ‘Washington Loan 16,299,042.27 Total .. . $77,966,421.51 Recapitulation, National Banks . $147,729,029.56 Savings Banks 29,499,145.06 Trust Companies . 77,966,421.51 Total ........ vueiee.$255,194,596.13 Heavy Demand for Gas Bonds. There was a tremendous demand for the new Washington Gas Light 5s, 1958, on the Washington Stock Exchange to- day. A turnover of $102,000 was recorded during the session, in blocks varying from $500 to $24,000. It has been many a day since any such trading has been recorded on the local board. The gas bonds opened with two $10,- 000 blocks changing hands, followed by a $40,000 block being absorbed. All sales were made at 94(, the price at which the new issue is being offered and the same price as noted in the trading yesterday, when the bonds ap- peared on the Exchange for the first time. All trapsactions so far are on & “when issued” basis. The wide de- mand for the issue has caused great in- terest in the financial district. The remaindef of today's trading was also confined to bonds. Capital Trac- tion 5s sold to the extent of $500 at the recent price level of 525. ‘Washington Gas 6s, series A, figured in a $1,000 and $100 turnover at 1003;. ‘This issue matures during the present year and there is much switching into other investments now being noted. Riggs National Votes Dividend. At the regular meeting of the Board ©of Directors of the Riggs National Bank, held yesterday, a dividend of 3 per cent for the quarterly pericd ending Jan- uary 15, 1933, was declared, President Robert V. Fleming announced, payable on that date to stockholders of record December 31, 1932. This means that the bank will pay its dividends quar- terly, instead of semi-annually, in the future. As noted elsewhere in today’s Star, Robert D. Weaver, president of the Georgetown Gas Light Co., was elected to the Riggs National's board today. For many years he was vice president of the Farmers & Mechanics’ National Bank and since the consolidation has been chairman of the Advisory Board ©f that and the Priendship branches. The results of the annual meetings of other banks in the city also appear elsewhere in today's Star. Insittute Examinations Set. Final examinations for first semester classes Washington Chapter, A. I. B., began January 9 in law 2 class with 49 students eligible to take the test. Examinations in banking 1 and banking 3 will be held January 10 with 57 students eligible in the for- mer and 23 in the later subject. On January 12 examinations will be held in economics and credits 1 with 29 students eligible in the first mentioned subject, and 26 in the later. CHICAGO, January 10 () (United States Department of Agriculture) — Hogs, 28,000; including 9,000 direct; mostly 5a10 lower; packing sows steady; 180-220 pounds, 3.10a3.20; top, 3.20; 230-260 pounds, 290a3.10; 270-320 pounds. 2.7522.90° 140-170 pounds, 3.05a 3.15; pigs, 2.60a3.00; packing sows, 2.30a 2.50 mostly; light light, good and choice, 140-160 pounds, 3.05a3.15; light weight, 160-200 pouncs, 3.10a3.20; medium weight, 200-250 pounds, 2.90a3.20; heavyweight, 250-350 poun: 2.60a2.95; ; packing sows, medium and good, 275-550 | pounds, 2.30a2.65; pigs, good and choice, 2 60a3.00 ; calves, 1,500; yearlings | and light steers steady; light heifer earlings, strong to shade medium weight and weighty steers in liberal supply; few early sales steady, but undertone 25 lower; bulls strong; vealers, 25 lower; early top | yearlings, 7.2 very little done on steers; slaughter cattle and vealers; steers, good and choice, 550-590 pounds, 5.25a7.25: 900-1,100 pounds, 5.25a7.25: | 1.100-1.300 pounds, 4.50a6 1,300- 1500 pounds, 4.25a6.75; common and medium, 550-1,300 pounds, 3.25a4.50. Heifers, good and choice, 550-750 pounds, 4.75a6.25: common and medium, | 3.25a4 cow ocd, 2.7583.25; common and medium, 2.25a2.75; cutter and cutter, 1.50a2.25. (yearlings excluded)—Good 2.8523.75,; cutter, common medium, 250a3.30; vealers, good and choice, 4.00a6.00; medium, 3.5024.00; cull and common, 2.50a3.50. Stocker and feeder cattie—Steers, good and choice, 500-1,050 pounds. 4.00a5.50; common and medium, a4.00. Sheep, 17,000; practically nothing done; few sales weak to a shade lower: bidding mostly 15a25 lower on well closely sorted natives (beef), and 15.178,950.25 | 4, 58.25 Stock and. Dividend Rate. 1% Adams Expre: . 12 Adams Millis (2). 814 Addressograph 1% Adv Rumley. 414 Afiliated Prod 1.60. 30% Afr Reduction (3)... 7% Alaska Juneau(60c). % Alleghany Corp...... % Alleg Corp pf $30ww 515 Allegheny Steel..... 4215 Alifed Chem & D (6) 4 Allis-Chalmers Mf. 414 Alpha Port Cement. . 12 Amerada Corp (2) Am Ag Chem (Del).. Am Bank Note. Am Brake Sh&F(60c. Am Can (4) . 12 Am Can Co pf (7). 3's Am Car & Foundry. . 15 Am Car&Foundry pf. 1% Am Chain. 2 Am Color 11 Am Comc'l Alcohol. 3 Am Encaustic Tiling 2%, Am Buropean Secur 2 Am & Foreign Pwr. .. 5 Am & For Pwr pf(7). 2 Am & For Pwr 2d pf.. 25 Am Home Prod 4.20.. 3% Am Ice Co. 2i: Am International. 3% Am Locomotive. Am Locomotive pf. 712 Am Mach&Fdy (80¢). 1 Am Mach & Metet. .. 613 Am Metal pt. 14 Am News (1%)... 3 Am Fower & Light 10 AmP&LtptA (2%). 15% Am Pwr & Lt pf (3). 3% Am Radfator. . . 3 Am Rolling Mills.... 5% Am Sm & Ref. . 2 n & Ref 6% pf. Am Steel Fdry vf(7). 20 Am Stores (1234). 704 Am Tel & Tel (9) 40's Am Tobacco (16) 44 Am Tobacco B (16. 9514 Am Tobacco pt (6) 4 Am Type Founders. . 10% Am Type Fdrs pf 11 Am Water Works(1) . 11 Am Wat Wks etfs(1) 15'3 Am Woolen pf. 3 Anaconda Copper. 5% Anchor Cap (80¢).... 24 Armour of Del pf(7). % Armour of 111 (A). % Armour of 111 (B). 313 Armour of 111 pf. 17% Atchison. 35 Atchison p! 9% Atlantic Coast 8% Atlantic Refining (1 T's Atias Powder, 45)5 Atlas Powder pf (6). 28% Auburn Auto (d4). Avation Corp (Del) Baldwin Locomot. Baldwin Locomot pf. Baltimore & Ohfo.... Baltimore & Ohlo pf.. Bang & Aroos pf (7). Barker Bros pf. % Barnsdall Corp Beatrice Creamery Beatrice Crm pf (7).. Beech-Nut Pkg (3) Belding-Hemingway. Bendix Aviation..... 4« Bethlehem . Bethiehem Steel p: Bonn Alumn & Bras: Bon Amla (A) (15) Borden Co (2) 3% Borg Warner. . 4 Boston & Maine, 2% Briges Mfg Co...... 11% Bkyn Manhat Tran 31% Bklyn Man Tr pf (6 46 Bklyn Union Gas(5). 23 Brown Shoe (3) . 1% Bucyrus-Erle 2% Bucyrus-Erie cv pf. 15 Budd (E G) Mfg. 3% Budd (EG) Mfg pf.. % Budd Wheel..... 1 Burns Bros pf. . 6% Burroughs AM(40c). 7 Bush Term’l deb stk. 12% Bush Terminal pf(7) % Butte Copper & Zinc. 7 Byers (A M) . 4% Californla Packing. 3 Callahan Zinc & Ld 1% Calumet & Hecla. 6 Canada Dry G A( T% Canadian Pacific. 10% Cannon Mills (1) 16% Case (J I) Co. . 30 Case (J1) Copf (7).. 4% Caterpillar Trac 50c.. 1% Celanese Corp. % 7% Cent Aguirre (1%) 313 Cerro de Pasco. % Certain-teed Prod... 1614 Checker Cab Mfg.... 9% Ches & Ohlo (23)... Chesapeake Corp (2) Chi Great Western. Chi Great Westn pf. . Chi Mil StP & Pac.... Chi Mil StP & Pac pt. Chi & Northwes Chi & Northwest pf. . Chi Pneumatic Tool.. Chi Rock 1 & Pac Chi R 1 & Pac 6% pf. Chi R1& Pac 7% pf. Chi Yellow Cab (1) Chrysler Corp (1). y Ice&Fuel pf 6 : Coca-Cola Co (1) Coca Cola (A) (3). Colgate-Palm-P (1).. 5 Colg-Palm-P pf (6).. 4 Collins & Atkman. ... Colo Fuel & Iron. ... Colo & South 1st pf.. 4 Columbia Gas (b1) Columb Gas pf A (6). Columbla Pic ctfs. Columb Carbon (2) Creait ‘omcl Solv (60¢) Comwlth & Southn Comwith & Sou pf(6) “onsol Cigar. - ol Cgr pr pf 67 Consol Cigars pt(7). Consol Film : Consol Film pf. Consol Gas N Y (4) Consol Gas NY pf( Consol Laund §0c. Consol Ofl Corp. nsol Textile. ntainer Corp (A).. 4 Comtainer Corp (B).. ntl Baking (B).... Contl Baking pt (4).. Contl Can (2).. “ontl Diamond Fibre Contl Insur (1.20). Cont Motors. Contl Ofl (Del) Crewm of Wht($2 Crosley Radio. Crucible Steel pf Crdahy Pack (2%).. Curtis Publish pf(7). Curtiss-Wright. Curtiss-Wright (A). Cutler Hammer ' Davega Stores (60c). 1 Davison Chemical... 614 Deere & Co pf (40¢).. 32 Del & Hudson (6) . 15 Del Lack & Westn. .. 12 Diamond Mateh (1).. T4 Dome Mines (11.10). 11% Dominion Stores 1.20 5 Doug Aircraft (75¢). 23 Drug Corp (4). 22 Dupont de Nem (2).. 80% Dupont deN db pf(§) XA 1 - s P e e N 1 e 14% 14% % 9 2% 91 6013 +H141 +H L4+ R R | + AR —1932— . Low. 27% 6 121 19 Hacken Wat pf A 1% 180; 83 Hanna pf (7). 50 Helme (GW) (t 7015 H 57 Hershey Choe pf(15) 110 Stock and Lividend Rate. Fidelity-Phoen 1.20 Firestone T&R pf (6 8 First Natl Stores 2%. 18 Florsheim pf (6).... 2558 Follansbee Bros. 1 Foster-Wheeler. Foundation Co. 1 10% Fourth Nat Inv 1.10.. 1 FoxFilm (A). 10 Freeport-Te: % Gen Am Investo: 26 Gen Am Inv pf ww 6. 9% e Gen Am Tank Car(1) Gen Asphalt. Gen Baking (2 Gen Bakiug pf (8). 4 Gen Bronze. Gen Cigar (4) Gen Cigar pf (7). Gen Electric (40¢) . Gen Elec spec (60c) Gen Foods (2) Gen Gas & Ble Gen Mills (3). Gen Mills pf (6)... % Gen Motors (1). Gen Motors pf (5). 215 Gen Printing Ink. 1 Gen Public Service. Gen Rwy Signal (1) Gen Realty & Utll en Refractorie: Glilette Saf Raz (1). Gillette Sat R pt (5). Glidden Co Gobel (Adolf). .. Gold Dust (1.20). Goodrich (BF)..... Goodyear Tire&Rub. Goodyear 1st pf (7) Gotham Silk Hosiery Graham-Paige Grand Union pt (3) 4 Granite City Steel(1 Great West Sug. 13 Grigsby Grunow. 213 Gulf States Steel. . @ ananfemes % Hahn Dept Stores. .. 2 ® 2 FTerwin % Hartman Corp (E).. Hercules Powder 1% ules Pow pf (7). 5 31 Holland Furnace. Homestake Min (9). 1 Houdailie-Hersh (B) 8% Houston Oil. . 1% Houston Oil (new).. 4% Howe Sound (40e). 2% Hudson Motor Car. 11 Hupp Motors. ..... LTI T les— Add 00 High. 3 184 et. 4% Illinois Centra 154 Illinois Cent 1 &2 Industrial Rayon (2) Ingersoll-Rand (2 Inland Steel. . . Inspiration Copper. . Insuransh Insuranshares (Md Interboro Rap Tran: Int Bus Mach (6. @ Ses Del(15¢) . @ 2 o Rofromnned % Int Carriers Ltd 20c. Int Combustios Int Combu: stion pf. Int Harvester (1.20). Int Hydro- lec (A) Int Nickel of Can.. Int Paper pt. 4 Int Paper & Pwr (C). Int Paper & Pwr pf. Int Printing Ink Int Rys Ce nt Am. Int Salt (1%). It Shoe (2)..... Int Silver pf (4).. 15% 52% 35 15% Jewel Tea Int Tele & Teleg. .. Intst Dp St pf xw(7), Co (3). 33% 10 Johns-Manville. 84 30 Jones & Laugh pf(3) 905 K C P&Lt 1st pf B(6) 21 Kansas Cit y Southn, 4% Kayser (J) &C Kelly-Sp Tire (new). 13 Kelly-Spri 1% Kelsey-Ha; ng ctfs. yes Wheel 2% Kelvinator Corp 17 Kendall Co pf (6) 4% Kennecott Copper 6% Kresge (SS) Co (1) 10 Kroger Grocery (1).. 25 LambertCo (4).. 1% Lee Rubbe: 1% Lehigh Val Coal pf. 5 Lehigh Valley RR.. 30% Lehman Corp (2.40).. 6 Lehn & Fink (2) 3% Libbey Owens Glass. 3214 Liggett & Myers(15). 34% Ligg & My 9 Liquid Carbanic » Inc (3). 13% Loew’ » Loft In 16' Loose-W 9 Lorillard ( r & Tire. ers B (15). FE LAk | s (2 P) (1.20) 813 Lou G2s&ELA (1%). 715 Louisville 1% Ludlum St 10 Me McCrory § & Nash ee 11 Corpn trs pf (6) MelIntyre Pore M(1 McKeesport T P (4) . 4 McKesson & Robs pt, McLellan Stores, McLe Stores pt. Mack Trucks (1). Macy (RH) & Co (2) % Madison Sq Garden. . Manhat Elev mod gtd Marine Midid (80c) Market Stri et R: 3 Marmon Motor C: Marshall Field & Co. Mathieson Alk (1%). May Dept Stores (1). Melville Shoe (1.20). Mengel Co Mesta Machine (1). Miami Copper. ... Mid Continent Petm Min-II'wel 1 Reg (1) Minn Moline Pow Mo Kan & Texas. Mo Kan & Texas pf. Missouri Pacific Missour| Pacific pf. Monsanto Chem 1% Montgome! Mother Lo Motor Pro ry Ward. . de. d (a2). Motor Wheal. Mullins Mfg. . Mullins Mfg pf. Mu; ay Corp 8 Nash Motors (1). 715 Nash Chat at Biscul &St L. tpf (1) at Cash Reg (A) 64 N 14% Nat Dairy 13 Nat Distill Prod (2 ers. 87 NatLeadpf A (7) 6% Nat Pwr & 15Nat Ry Me: 1315 Nat Steel ( 313 Nat Tea (6 Lt (1). x 2d pf. 50c). 0c) 115Newport Industries. 8% N Y Central. 13 N Y Chicago & St L. 2 NYChi&StLpf. 824 N Y & Harlem (5) 6 NYNH& 12 NYNH& 3% NYOnt& Hartford. Hart pf. Wester: 10% Noranda Min (al.18). % Norfolk & 57 Norfolk & Southern.. West (8) 65 Norf & Westn pf (4). 1% North Am Aviation. 133 Nor Amer(b10%stk). 49 North Am Ed pf (6). 5% Northern Pacific. % Norwalk Tire & Rub. 5 Ohio O1l (ab0c). 15 Oliver Far: 'm Bquip. 213 Oliver F Eq prpf A Stock and Dividend Rate. 214 Pere Marquette pf... 30; 315 Pere Marquette pr pf 80s 3 . Petrol Corp of Am... 3% Phelps Dodge. 8 Phila Co6% (3). Phila & Read C& I Phillips Petroleum. ., Pierce Petroleum. ..., Pilisbury Flour(60c) PittsF W& C pf (7). ¢ Pitts Steel pf Postal Tel&Cable pt Prairie Pipe Line. ... Proctor & Gamble(2) Proc & Gamb pt (5). Public Sve N J(3.20). Public Sve NJ pf (5). Public Sve NJ pf (6). Public Sve NT pt (7). Pub Sve G&E pf (5) 4 Pullman Corp (3)... 7 Pure OIl. 50 Pure Oll pf (8) . 4% Purity Bakeries (1). 215 Radlo Corp. . Radio Corp pt B. Radio-Keith-Orp) Reading Rwy (1). Real Siik Hoslery. Remington-Rand. Republic Steel. Republic Steel pf, Revere Copper Reynolds Meta Sales— 1 915 2% Reynolds Tob A (3). Reynolds Tob B (3). Richfield Ofl. - Rossia Ins of Amer. . 12'x Royal Dutch. Safeway Stores (3).. St L-San Francisco, . o 66 Seaboard Of} Del 40e. 9% Sears Roebuck 14 S 20% 37% 3 36% 21 5% 1g 7 % 12% Servel Inc..... Sharp & Dohme. Shattuck(FG) (50¢). Shell Transport & Tr Shell Union Ol Shell Union Ofl pf. % Simmons Co. Socony Vacuum 40c. Solv Am pf ww(5%). Se Port Ric Sug 1. 4 So Port Ric S pf(8). Southern Cal Bd(2)., Southern Pacific Southern Railway... Southern Rallway pt. Sparks-Withington. . Spear & Co. Stand Com Tobacco. . Stand Gas&EI (1.20) . Stand Gas&El pf (4). Stand Gas&El pf (7). Stand O1l Calif (2) Stand Ofl Exp pt (5). Stand Oil Kansas. Stand OII N J (12)... Starrett (L S). . Sterling Secur cv pf. Stewart Warner..... Stone & Webster. ... Studebaker Corp udebaker pt (7). Sun Oil pf (6). . Superheater Co(50e). 9! Texas Corp (1).. . 12 Tex Gulf Sulph (2).. 214 Tex Pacific Land Tr.. 3 2 Thatcher MfgCo.... 6 % Thermoid Co 2 3% Third Avenue....... 1 17% 10 Third Nat Inv (90¢) 5 10 2% Thompson Products. 9 17% 12 Thompson-Staret pf. 1 Add 00. High. 8% 5i4 5% Stock and . Dividend Rate. 2 Tide Water Asso Ofl.. 20 Tide Water As pt (6) 80 Tide Wat Oil pf (3).. 7% Timken Roller Bg(1) 214 Transamerica Corp. . 13 Tri-Contl Corp. 42 Tri-Contl Corp pf(6). 19% Trico Products(2%). 2 Truscon Steel. .. 1% Twin City Rap Tran. 33 Ulen & Co. . . 7% Und-Ell-Fisher(50c). 151 Un Carbide & C(1.20) $ Un Ofl of Calif (1)... % Union Pacific (6).. Union Pacific pf (4). 4 Unit Alrcraft. . Unit Biscuit (2). Unit Carbon. . Unit Cigar Stores. Unit Corp (40c) Unit Corp pf (3). Unit Dyewood. Unit Electric Coal. Unit Fruit (2) . Unit Gas&Im (1.20).. Unit Gas&Im pf (5).: Un't Piece Dye Wks., U S & Forn Secur. ... U 8 & Forn Sec pf U S Gypsum (1.60) U S Gypsum pf (1) U S Indus Alcohol. US Leather..... % U S Leather (A)..... Pipe & Fdry (2)., Pipe 1st (1.20)... U S Realty & Imp.... U S Rubber. . U S Rubber 1st pf U S Smtg & Ref (1).. U S Smtg&Ref pt 3 i US Steel. U S Steel p: .. U S Tobacco (4.40) United Stores (A)... Unit Stores pf (3%).. Univ Leat Tob (2)... 1% Util Pwr & Lt (A)... 5% Vanadium Corp. . 4 Va-Car Chemical Clec&Pw pt (6) 7% Vulcan Detinning % Wabash R R. Wabash pf (A). % Wabash pf (B). Ti% Waldorf System (. % Walworth Co......., % Warn Bros Pictures. 1% Warren Bros.... Add 00. High. 6 M =8 O 300 T 0 10 e e A wauwan 2 Warren Broscv pf.., 60s 814 80 1'4 Western Maryland..; % Western Pacific pf. 123% Western Union. Wesson Ofl & Sn (1). 3 West Pa Pwr pf (7)., 2208 9% 254 Wrigley T 27% 9% 10:30 AM. . Dividend rates as in stock. a Paid m Paid ock. avable in Lo ~1% | o'P Sorip. Westing’: Westinghouse Elec Weston Elec Instru., Wheeling Steei pf. .. ‘White Rock M S (2). i White Sewing Mach.. Wilcox Oil & Ga Wilcox Rich A (234). Willys-Overland. .... Wilson & Co. . Wilson & Co (A). Wilson & Co pf. Woolworth (2.40) ‘Worthington Pum; 1% Yellow Truck....... 4 Youngstown Sh&Tu.. 4 Zonite Produets..... Sales of Stocks on New York Exchange. 'se Air (Wm) (3) 35 13% " 3% 13% R 90, 12:00 Noon 500,000 0 P.M.. siven in the above table are the annual cash payments based on the latest quarterly or half-yearly declarations. *Unit of trading less than 100 shares. tPartly extra. this year—no le;uhl rate. b 2ayable in . {Plus 8% in stock. hPlus 1 1n special preferred stock. k Plus 3% E in 1Plus jast year—no regular rate. nPlis 5% LIBERTY LOAN DRIVES | MAY BE TRIED AGAIN Proposals to Fund Part’ of Public" Debt Would Necessitate New Bond Issues. y the Associated Press. NEW YORK, January 10.—The Lib- erty loan drives of the World War period, comprising the most intensive money-raising campaign every under- taken in this country, may be revived in a modified form, and for a different purpose, if proposals in some financial and political quarters are adopted. These proposals, which contemplate the launching of a Government loan program to fund a good part of the $6,- 000,000,000 of the Federal Government's floating indebtedness, are receiving serioys study in prominent banking quarters, some authorities holding that it might go far toward liberating credit to its normal channels. Almost one-third of the total Gov- ernment debt of $16,800,000,000 is in securities which mature within the next two years, and until this huge volume | of short-term indebtedness is placed on a more permanent basis, bankers say it is extremely difficult to forecast prob- able developments in the money market, and it is consequently extremely diffi- cult to invest their depositors’ money. This very uncertainty has facilitated further additions to the Government's short-term debt, for banks have been glad to pour funds into Government issues maturing within a few months, at almost no interest, knowing that whatever the money market may do, they will get their principal out intact when the Government issues mature. A pinch in the money market, sending % | rates up, would naturally send long- term bonds down. The fact that the market for highest grade long-term bonds has been very strong of late has led bankers to won- der if a good time were not approaching for the Government funding. FOREIGN EXCHANGE. (Quotations furnisted by W. B. Hibbs & Co.» Nominal gold Selling checks value today, London, pound. Paris. franc Brussels, belga ATk c drac Madrid, peseta. . v schilling . u Warsew, zlot: Copenhagen. Oslo. crown £ Stockholm, crown. . Montreal, 'discount, That Feeling of Security —and Independence, which money in bank gives every one, is worth many times the small sacrifices entailed by thrift. Over 56,000 individuals A Town. | | CORPORATION | REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, January 10.—Following is today’s summary of corporation news prepared by Standard Statistics Co., Inc, New York, for the Associated | Press: Automobiles and Trucks. Automobile production in the United | States in 1932 estimated at 1,436,000 | | cars and trucks compared with 2,472.-| ‘359 in 1931 and the record total of 5,621,715 in 1929. General Motors Corporation—Chevro- let unit sales in 1932 exceeded 400,- 000 units. Nash Motors Co. declared regular quarterly dividend of 25 cents a share. Household Products. Servel, Inc., passed quarterly dividend on 7 per cent preferred stock; last payment was $1.75 a share on Novem- r 1. Metals (Non-Ferrous). United Verde Extension Mining Co.— Copper production in December totaled 2,908,322 pounds. Railroad and Railroad Equipment. Chicago, St. Paul, Minneapolis & Omaha Railway deficit, 11 months end- ed November 30, $2,791,396 vs. ceficit $2,416,288. New York, New Haven & Hartford Railroad estimated December deficit after fixed charges will be less than | $316,913 deficit for November and total | net deficit for 1932, before guarantees, may be around $500.000; guarantee in 1931 totaled $962,550. Northern Pacific Railway deficit, 11 months ended November 30, $6,860,632, vs. net_income $2,412,901. | _St. Louis-San Francisco Railway— Time for deposit of affected bonds | under readjustment plan of company | | has been extended to close of business | February 10; more than two-thirds of | all bonds affected have assented to| plan. Court_decided against I. C. C. in its| appeal seeking to enforce an order against company_directing compulsory | in Oregon. ‘WHEAT SUPPLY DECREASES. Union Pacific Railroad — Supreme | | construction of 185 miles of railroad || 0 Cotton Consumption Abroad. NEW YORK, January 10 (#).—The New York Cotton Exchange Service re- ports that English and continental mills continue to use the American staple at a higher rate than last season. Forward- ings to Lancashire totaled 33,000 bales last week, against 31,000 in the same week last year. Both English and continental mills have increased activi- ties in recent months, it is stated. INVESTMENT TRUSTS NEW YORK, January 10 (#).—Over- the-counter market: Quotations as of 12 o'clock. Am Bank Bid. Asked. 1 © 1% Bullock A Mod. Corporate Trust, Accum Ser.. dend Shrs. = Funy Wide ke Tr m T INVIGOROUS RALLY Market Hardens in Final Dealings, With New High Prices Scored. BY GEORGE T. HUGHES, Special Dispatch to The Star. N NEW YORK, January 10.—Stocks pushed ahead robustly in the last hour of today's session on the exchange, reg- istering new highs on the recovery. ‘The market had been dull and irregu- lar during the morning, but it hardened after the unfilled tonnage statement of the United States Steel Corporation came out at noon, and in the late deal- ings turned aggressively strong. Allied Chemical and Continental Can ‘were among the stocks setting new prices since January 1, 1932, A long list of others made new tops for the movement. Special strength was shown by Steel preferred, up 4 points; J. I Case, American Can Monsanto Chemical, The market was a waiting affair throughout the morning. Fractional re- cessions from the previous close were the rule, but no additional stock came out on the reaction and here and there an issue managed to make progress. One of these was Liggett & Myers B, which was outstandingly strong in ex- pectation of favorable dividend action at the meeting at the end of the month. Last year the company declared an ex- tra of $1 a share at this time. It has been suggested that a similar extra will be paid this year or, perhaps, the stock put on a $5 annual rate regularly. Nash motors was up fractionally on its good showing in the balance sheet, given out with the dividend action yes- terday. Additional short covering was in evidence in Allied Chemical, while in the railway list Lackawanna and Penn- sylvania were in good demand. At the same time the turnover in all of these ‘was moderate and there were many de- clines. Realizing came into Corn Prod= ucts after yesterday's achievement of making a new high for the past 12 months. American Telephone was heavy, as were U. S. Steel common and preferred before the unfilled tonnage statement came out. There was no change in the attitude of the Street toward the market, which continued hopeful. It was pointed out that there was no pressure from liqui- dation or from short selling. Strength in the bond market was taken as a favorable indication for stocks. From time to time this investment demand broadened out to take in preferred stocks. Norfolk & Western lerred, Procter & Gamble preferred and Du- % | quesne Light preferred all sold. around '.heu-1 bes&;;{u:els wgny. was un- usual activity in eneral ferred at unchanged pflw.m F8d FREIGHT LOADINGS DROP ALMOST 25 PER CENT By the Associated Press. “The volume of freight carried by American railroads in 1932 _droj peé nearly one-quarter below the total hauled in 1931, a year which already had shown great losses from previous high marks. The American Railway Association, refirt finally for the entire year, said freight for 1932 totaled 28,194,828 cars, against 37,151,249 the year before and 45,717,079 in 1930. ' The report showed 406,779 cars of revenue freight were hauled during the last week of 1932. This was 87,801 cars under the previous week, 95948 under the corresponding week in 1931 and 208,081 under 1930 . ‘The annual report showed a reduction . e drop ore providing the deepest cut—75.9 r cent—and less than carload freight, lowest with 17.1 per cent. GUARANTY 6% FIRST MORTGAGES If you have money for investment. choose thesesafe. high-yielding Pirst Mortgage Bonds, secured by direct First Mortgage on income | producing properties in the Nation's Capi 1 enominations as w_as $100 Monthly Payments If Desired REAL ESTATE MORTGAGE AND GUARANTY C . 1610 K Street Producing Oil Royalties Descriptive Booklet Upon Request Benilmn Union Trust Blde INVESTMENT SUGGESTIONS Upon Request | Ferris, Woodroof &Lewis, Inc. | Invest t Securiti _ Washinglon Bullging - Nat. s0zs-a | WITH SAFETY IN | New Issue We Own and Offer Washington Gas Light Company Refunding Mortgage 5s Due 1958 g Price 94% to Yield 5.43% he Company Agrees to Refund. Upon Application. the District of Columbis Intangible Tl:.'l 6; Aot P Descriptive Circular Furnished Upon Request Y. E. BOOKER & CO. e-half of Onme Per Cent. Investment Bankers American Security Building NEW YORK, January 10 (#).—The visible supply of American grain shows the following changes, in bushels: Wheat, decreased 1,888,000, corn in-| creased 144,000, oats decreased 114,000, | rye decreased 50,000, barley increased i 37,000. PROPERTY Apartment House MANAGEMENT MANAGMENT N CONSULT with us concern- ing the management of your apartment. house proper- of ties and let us make a survey conditions—giving you de- tailed report on ‘what benefits will accrue by placing them in the hands of our Propzrty Man- agement Department. We feel that we can assure youea satisfactory net return— and for a service fee that is very nominal. SAUL CO:. are being helped financially onward, by this strong 66- 4 ' . year-old bank. You're in- 26 oA o T ’ vited to open an account and 108 16% Pacific Gas & El (2) Dol S9N Patiin Lighting (2). SAFE DEPOSIT BOXES Capital & Surplus R - at Nominal Rentals $3,500,000.00 o Fmc s NATIONAL SAVINGS & TRUST COMPANY % Parmelee Transport, The Oldest Savings Institution in the Distriet of Columbia 1% Pathe Exchange (A). Corner 15th & New York Ave. R S ";"gg-;‘gflm’m“ foxn: eo0d 1% 87 Dugques Lt 1st pt (5). 1508 and ¢l ce, 6.00a6.50; common and me- dium, 4.2525.75; '90-98 pounds, good and 35% lu:un.nxl{od cg 5.75a6.35; 98a110 pounds, good 5 E“w:nm‘-f?i choice, 5.5086.00; "ewes, 90-150 | 32% 8l Kiec Au o , good and choice, 1.75a2.75; all | 100% Elec Auto Lite pf(7). common and medium, 12502.25. | 2% 10% Elec Pwr&Lt pf 2.33. 16 Endicott-Johnson(3) 4 Engineers PubSve, 16 Eng Pub Svepf (5).. 10% Mm::um‘l%. 1 5 s 1% 1% 2 5% 9% e o B ¥ ¢ 3414 2 91 113 9% uf (250), 6 Lit & Trac of (6). 2305 ServiceA, y 1 “Sugar Consumption. NEW YORK, January 10 (/P —Sugar consumption in the United States dur- ing Wr 376,220 tons, “with 395,163 tons in Novem- ‘said an estimate 64 3% 25 o Interest Paid “on Both Checking and 66th Year B. F. 925 15th St. N.W. 3% Patino Min % Peerless Motor Ca 16 Penick & Ford (1)... 13 Penney (J C) (1.30). 60 Penny (J C) pf (6).. 2. _ % Penn Dixie Cement. “28% " 615 Penna Railroa