Evening Star Newspaper, January 13, 1933, Page 14

FINANCIAL. STOCKS IN RALLY ASMARKET CLOSES C'ose Is Flrm, With Price EVENING STAR, WASHINGTON, D. C., FRIDAY, JANUARY 13, 1933; CAPTAL TRACTION NET OFF $308707 Competition of Taxucabs and NOTE—Today’s individual sales are not given in this edition. Sales of each stock in this edition are from yesterday's paper. Stock and Sales— Net. Svifecanaie SSNIOLRIG. Iow. Clons, Clish Spencer Kellogz(60c) 9 U S Indus Aleohol 261s 4 Standard Brands (1). 19 4 4 U S Leahter pr pf(7). Stand Brands pf 2 T 12 U S Pipe & Fdry (2). Stand Gas&El (1.20). Stand Gas&El pf (4). TE—Today's individual sales are not given in this edition. each stock in this edition are from yesterday's paper. Stock and Sales— Net. Dividend Rate. Add 00. High. Chge. 4 NOTE—Today's individual sales are mot given in this edition. Sales of each stock 1 are from yeslerday's paver. ~—1932— " gales— High. Low. Add 00. High. Low. Close. Chge. 2 3% T3 T3% — % 3% 1% 5% 561 4% 2y ‘Stock and Dividend Rate. Gillette Saf Rpf (5). 38 % Gimbel Bro: 23 314 Glidden Co. R 35 Glidden Co prpf (7). 208 2% Gobel (Adolf). - > Net. u- Close. Chge. Low. Close. s 14% 9 Stock Dividend Rate. Adams Express Adams Millis AddressosTaph. Afmiliated Prod e 00, mien. 11 5 14% 9 9% 14', 5 9 914 U S Rubber 1st pf { Private Cars Cuts Into F Revenues. L4 BY EDWARD C. STONE. !' According to the Capital Traction Co.'s annual financial statement, com- petition with taxicabs and private auto- mobiles caused a reduction of $616,- 4930, or 16.1 per cent in revenues ..zu ed during 1932. 1 revenues from transportation and buses during the year to $3,196,783.48, a decrease ©0i $600,795.93. Revenues from ODEra- tions other than transportation totaled 523,807.56, a falling off of $16.153.37, lcaving gross operating revenues of $3.220,501.04, a decrease of $616,949.30. Cperating expenses called for 80.2 per cent of the gross revenues and totaled £2,583,808.99, a decrease of $244,961.54, Jeaving a net operating revenue for the year 1932 of $636,787.05, a decrease of $371.987.76 Non-operating income showed a very | slight increase during the yvear. After th> deduction of taxes assignable to transportetion, the Capital Traction reported a = income for 1932 of onlv nings during the Heavy Cut in Expenses. The Capital Traction Co. made notable showing in cutting expense: curing the year. Officials reported that operating expenses were $244,961.54 less than in 1931, a reduction of 8.7 per cent. New track extensions and new buses #nd bus equipment required over $60,000 during the year, but the street car company benefited somewhat by the lower prices paid for materials. Other features of the annual report appear elsewhere in today's Star. Presi- dent John H. Hanna told the stock- holders that he believes much of the t traffic can be made up when business conditions get back some- where near to normal. The great majority of Capital Trac- tion's stockholders are Washington people and President Hanna asks the fullest possible co-operation from them | in helping to bring about better condi- tions in the company's financial affairs. Gas Bonds Lead Exchange. Trading on the Washington Stock Exchange was unusually interesting again today because of the heavy de- mand for Washington Gas Light 5s, 1958, now being sold on a when issued basis. The day's business recorded 10 dif- ferent transactions in this new bond issue, all sales being made at 94%;. The day's turnover totaled 821 000, the largest blocks being $3,000 and $4.000 transfers. Not since before the break in Wall Street in 1929 has trading been .as heavy in local bonds as it is at present. Today's local market opened with 10 shares of Capital Traction stock sell- ing at 101 After call $500 Capital Traction 5s came out at 55Y, practically the same price as recorded on the last previous zale. Local Bank Clearings Jump. Washington bank clearings showed a sharp gain during the weck ended January 11, according to figures kept by the Washington Clearing House As- sociation. Clearings for the week totaled $19,- 549,000 against only $15,705,000 in the week ending January 4, and 145 per c:m. under the corresponding week in 1931. Richmond clearings also showed a gain, being $28,037,000 compared with $27,740,000 in the previous week and only 2.5 per cent below the total in the same week in 1931. Baltimore also reports a_ gain in clearings, the figures being $53,238,000, in comparison with $51,791,000 a week ago and 19 per cent under a year ago. Norfolk, Va., and Atlanta, Ga. also | recorded gains among the Southern cities, although, of ccurse, under the 1931 figure. | Bank clearings at 47 leading cities of the United States, as reported to Brad- street’s Weekly, totaled $4,631,831,000 for the week ended January 11. This is a drop of 8.1 per cent from the pre- ceding week, for which New York City 15 mainly responsible. Outside the financial center, the de- crease was 2.1 per cent. From the corresponding week a year ago declines of 25 and 185 per cent, respectively, are shown. SANDY SPRING BANKS HOLD ANNUAL ELECTIONS Spccial Dispatch to The St SANDY SPRING, Md., January 13.— At the annual meeting of the stock- | holders of the First National Bank at Sandy Spring the following were elected directors: Jacob W. Bird, Frank J. Downey, M. E. Gilpin, Calvin Bready, Richard H. Lansdale, Josiah W, Jones, T. Lamar Jackson, Francis Miller, Frederick L. Thomas, Allan Farquhar and William E. Talbott. The directors elected the following officers: Josiah W. Jones, chairman of the board; Federick L. Thomas, presi- dent; F. J. Downey, vice president; Frnnms Miller, cashier, and Francis A. omas, teller, i | | | | t uf the bank, dated De- | total 2 resources of | 000 and cep- | and surplus, | c directors of the Savings Insti-| of Sandy Spring, Charles F.| Brooke Dr. George E. Cook, Josiah W. Jones, Newton Stabler, Willlam J. ‘Thomas, Tarlton Brooke, Frederick L. ‘Thomas, A. Douglas Farquhar, George ‘W. ‘Waters, William F. Prettyman, Francis Miller, Joseph E. Janney, P. Garland Ligon and Thomas Hyde, 4th, have re-elected the following officers: Charles F. Brooke, chairman of the board; Frederick L. Thomas, president; Francis Miller, treasurer; Francis A. ‘Thomas, secretary, and Joslah W. Jones, fleld officer. A statement of the Savings Institu-| tion of Decembe 1 WS total re- e building and th rces are $3,042,000, deposit 592,000, and surplus, $417,500. Drug Firm Sale Vetoed. LONDON, January 13 (4).—Neville Chamberlain, chancellor of the ex- chequer, today vetoed a proposal to sell American holdings in the Boots Pure Drug Co., largest British drug store chain, to British interests. There had been rumors that the city (financial district), embargo on forelgn issues would be lifted, but the treasury announcement indicated such action was not_contemplated now. The United Drug Co. of America, owners of the Boots Co., sought to sell the latter concern to a group of British interests. In official circles it was said the chancellor regarded the prospect of transfer of £8250,000, sierling as probably damaging to the sterling in Collar exchange. PARIS BOURSE PRICES. PARIS, January 13 (#)—Three pe: eent rentes, 77 francs 25 centimes; 4'/,[ per cent rentes, 93.80. um;, 85.66, The Air Reduction (3). .. Alaska Juneau(60c). Alleghany Corp. Alleg Corp pf $30ww Alifed Chem & D (6). Allis-Chalmers Mfg. Am Bank Note. Am Bank Note pf (3) Am Beet Sugar pf... Am Brake Sh&F (60c Am Brake Sh pt (7) Am Can (4). Am Car & Fo Am (‘ar&i‘oundry or. Am Chicle (13).. Am Colortype. Am European Secur. Am & Forelgn Pwr. . Am & For Pwr pf(7). Am & For Pwr 24 pf. Am Haw Stship (1).. Am Home Prod 4.20. x Am Ice Co 2 Am International Am Locomotive. . Am Mach&Fdy (80c). Am Metal Co......u Am Power & Light. . AmP&Ltpf A (2%4). Am Pwr & Lt pf (3). 31x Am Radiator. .. Am Rolling Mills Am Sm & Ref. . Am Sm & Ret 67 Am Sm & Ref 7% pf Am Snuff (13%). 165 3% 8le 881 15% 22 47 o [ o b EETCEICEITE- LS SOt SRRy e Am Tel & Tel (9).. 4 Am Tobacco (16). . Am Tobacco B (16... Am Tobacco pf (6).. Am Type Founders Am Type Fdrs pf. Am Water Works(1). Am Woolen, Am Woolen pf...... Am Writ Paper ctfs ‘Anaconda Copper. 37 Anchor Cappf (6%). 130l Armour of Del pf E Armour of 111 (A) Armour of 111 (B) Armour of Il pf. Assc Dry Goods Atlantic Coast Line " Atlantic Refining(1). Atlas Powder pf (6). 150! 28% Auburn Auto (d4). 11; Avation Corp (Del) Baldwin Locomot Baldwin Locomot Baltimore & Ohfo Baltimore & Ohio pf. Bamberger pf (615).. Bangor & Arostk(2). Barnsdall Corp. Beatrice Creamery. Beatrice Crm pf (7) ; Bendix Aviation Best & Co.... Bethlehem Ste Bethlichem Steel pf. Belding-Hemingwa; Boan Alumn & Brass Borden Co (2) % Borg Warner. Briges Mfg Co. 4 Bkyn Manhat Tran. Bklyn Man Tr pf (6). Bklyn Union Gas(5). Bucyrus-Erlecv pf.. Bucyrus Erie pf (4). 4 Budd (E G) Mfg Budd (E G) Mfg pf. Budd Whe Bullard Co. Burroughs AM(40¢ 4 Bush Terminal pf(7 % Butterick Co. 6 CanadaDry G A(1).. 7% Canadian Pacific. 16% Case (J I) Co... 30 Case (J1) Copf (7). 4% Caterpillar Trac 50c. 4 Celanese Corp.".. T84 Cent Aguirre (1%) 2% Century Rib Mills. 315 Cerro de Pasco. 161 Checker Cab Mfg 9% Ches & Ohlo (234). 474 Chesapeake Corp (2 1% Chi Great Western. . 214 Chi Great Westn pf. % Chi Mil StP & Pac. 1% Chi Mil StP.& Pac pf. 2 Chi& Northwestern. 4 4 Chi & Northwest pf. 11 Chi Rock 1 & Pac. Chi R | & Pac 6% pf. 4« Chi R1& Pac 7% pf. Chi Yellow Cab (1) Chrysler Corp (1) Cluett Peahody pf ( Coca-Cola Co (T). Coca Cola (A) (3) Collins & Aikman. Colo Fuel & Iron. Columbia Gas (bl Columb Gas pf A Columb Carbon (2) Commercial Credit., Comel Credit A (3). . Comecl Inv Trust (2). Comcl Solv (60c). Comwith & Southn. . Comwlth & Sou pf(6) Consol Cigar. Consol Film Consol Film pf. Consol Gas N Y (4) Consol Gas NY pf(5) Congol Laund 50c Consol 0l Corp. . Cons RR of Cuba p: Consol Textile. Contl Baking (B), = 2 SIS YORSPAT JUTOPNEI, 290 1 Conthln (2).00e Contl Insur (1.20). Cont MOtOTS. ..vvaev Contl Ofl (Del). Corn Product! 4 Coty. Inc. Crown W P 1st pf(4) “rucible Steel pf. urtis Publishing . “urtis Publish pf(7). 1; Cutler Hammer . 1 Davison Chemical. 614 Deere & Co pf (40¢) .. 32 Del & Hudson (6).... 815 Del Lack & Westn. 54 Detroit Edison (6)... Devoe&Raynolds(A). Diamond Match (1).. 7% Dome Mines (11.10). 11% Dominion Stores 1.2 18% 5 Doug Alrcraft ( §7 28 DrugCorp (4). . 59% 22 Dupontde Nem (2).. 80% Dupont deN db pt(6) Dugues Lt 1st pt (5). 35% Eastman Kodak (3). 3 Eaton Mfg Co 815 Elec Auto-L (1. 23, Elec Pwr & Lt. 8T% Zlec Pwr&Lt pf 2.3 Slec Storaze Bat Df ww (5%). zv. Fed Water Service A. 6 Fidelity-Phoen 1.20.. 101 Firestone T& R (1).. 45 Firestone T&R pf(6) 86 First Natl Stores 2%. 3 Foster-Wheeler. .. .. 10% Fourth Nat Inv 1.10.. 1 TFoxFilm (A)... . 15 Franklin Smn pf(7). 2%\ 10 __Freeport-Texas (2). T35% 9% Gen Am Tank Car() 15 4% Gen Asphalt.... 19% 101: Gen Baking (2)... 13 Gen Bronze. .. 3% Gen Cable pf.. 20 Gen Cigar (4). . 815 Gen Electric (40¢)... 10% Gen Elec spee (60¢). 19% Gen Foods (2). . 46 3 Gen Gas & Blec (A).. 6 5% Gen G&ELpf A (87). 408 28 Gen Mills (3) 6 Ml 50w 28 24 3 964 24% a'm w/. Gen Motors pf (5) 4 GenOutdoor Adv (A) 1 » Gen Printing Ink. ... uo- Signal (1) 28 28"- Gen Rwy 1090 Glllotlt m Ras (1), 4% 62% 12 104% 101% 62% 1% 13 2% 874 8 12% 397 B AL g F+ 11 T+t + eI ety FlL0+14 41 1+ 110 91% 187 424 31 47 104% 109 54 11% 2 5% 9l5 328, 3415 91 214 23% 814 Gold Dust (1.20 70 Gold Dust pf (6) 2% Goodrich (B F) 7 Goodrich (BF) 55 Goodyear Tire&Rub, 19% Goodyear 1st pf (7).. 7% Gotham Silk Hoslery 1 Graham-Paige. 14% Grant (W T) (1) 5% Great Northern pf... 314 Great West Sug. 48 GreatWn Suepf . % Hahn Dept Stor, s Haves Bod 57 Hershey Choc pf(15) 31 Holland Furnace 110 Homestake Min (9). 8% Houston Oil. ... 47 Howe Sound (40c) 27 Hudson Motor Ca 4% Iilinois Central...... Industrial Rayon (2) Ingersoll-Rand (2).. Inspiration Copper. Interboro Rap Trans Intercontl Rubber. .. Interlake Iron. Int Agriculture pf. Int Bus Mach (6).... Int Carriers Ltd 20c. Int Combustion pf. .. 10% Int Harvester (1.20). 314 Int Nickel of Can.... « Int Paper pf. Int Paper & Pwr pf Int Salt (115). Irt Soe (2) . Int Silver pf (4).. Int Tele & Telex. 151 Jewel Tea Co (3) 10 Johns-Manville. 20 Jones & Laugh pf(3) 4% Kayser (J) & C 16 Kelly-Spr 6% ctf: 14 Kelsey-Hayes Wh'el Kelvinator Corp. 4% Kennecott Copper... 6% Kresge (SS) Co (1).. 88 Kresge (SS) pf (7).. 132 Kreuger & Toll...... 10 Krozer Grocery (1).. 25 Lambert Co (4) 1% Lee Rubber & Tire 40 Leh Port Cmt pf 3%. 1 Lehigh Valley Coal.. 5 Lehigh Vallay RR.. 305 Lehman Corp (2.40). 321 Liggett & 341 Ligg & My 100 Ligg & Myers pf (7). 615 Link Belt (80c). 9 Liquid Carbanic. 13% Loew's, Inc (3). 39 Loew'sInc pf (6%). 1% Loft Inc. - 16's Loose-Wiles Bis (2). 96 Loose-Wiles 1st (7). 9 Lorillard (P) (1.20). 4 Louisiana Ofl. - Louisville & Nash... 1% Ludium Steel. 10 MeCall Corpn ("). Meinty McKeesport T P (4). 4« McKesson & Robbins McLeilan Stores McLellan Stores pf.. 10 Mack Trucks (1).... 17 Maey (RH) & Co (2) 214 Madison Sq Garden. . 1 Mallison & Co 4 Manhat Elev mod gtd 615 Marine Mid1d (30c).. 9 Mathieson Alk (1%). % May Dept Stores (1) Maytag pt ww. 4 Melville Shoe (1.2 14 Met-Gold Pl pf 1.89. 33 Mid Continent Petm. 34 Minn Moline Pow. .. 1% Mo Kan & Texas. ... 31 Mo Kan & Texas pf.. 113 Missourd Pacific. > Missouri Pactfic pf.. Monsanto Chem 1% . 315 Montzomery Ward. . 40 Morris & Essex (3%) ‘Nash Motors (1) 4 Nat Acme Co at Biscuit (2.80)... Nat Biscult pf (1) Nat Cash Reg (A) Nat Dairy Prod (2). Nat Distillers. . % Nat Pwr & Lt (1), Nat Steel e) . Nat Surety. .. wton Steel., Y Central. ¥ Chicago N \'(hl&\thf . N YN H & Hartford. N Y N H & Hart pf.. Y Ont & Western. . N Y Steam pt (6).... 4 Noranda Min (al.1 13% North Am Aviation.. 13% Nor Amer (b10%stk) 5% Northern Pacific...., 3 Norwalk Tire & Rub. 5 Ohio 01l (850c)...... 1% Oliver Farm Bquip. 135 Omnibus Corp. . 9 Otis Elevator (1). 1% Otis Steel..... 314 Otis Steel pr pf. 12 Owens 11l Glass (2). » Pacific Gas & El (2). Pacific Lizhting (3). Pacific Tel&Teleg(7) 515 Pacific T & T pt (6).. 4 Packard Motor Car.. Paramount Publix. Park Utah. o Pathe Exch . Patino Mines........ Penick & Ford (1)... Penney (J C) (1.30). Penny (J C) f (6).. Penn Dixie Cement. . Penna Rallro . Peoples Gas Chi (5). 4 Pere Marquette pf. Petrol Corp of Am Phelps Dodge. .. Phila & Reat C& 1 Phillips Petroleum Piercy 01, B J'mnumh on'.... Port Ric Am Tob(A). Pressed Steel Car. .. 28, Pressed Steel Car pf. 19% Proctor & Gamble(2) 81 Proc & Gamb pt (5 28 Public Sve N J(3.2 62 Public Sve NJ pt (5). 1% Public Sve NJ pf (6). 83 Pub Sve G&E pf (5).. 10% Pullman Corp (3). 2% Pure Oll. 4% Purity Bakerles (1 214 Radio Corp. . 3% Radio Corp pf B. 1 2io-Kelth-Orph. .. Dbestos-Man (60¢) ding Rwy (1). 2d pf 1 Remington-Rand. 1% Republic Steel. . 5 Republic Steel pf. 9 Revere Cop & Brpf.. 65 Reynolds Tob A (3) 2615 Reynolds Tob B (3 % Richfield O11 13 Rossia Ins of 80% Safeway Stores (3). 4% St Joseph Lead. % St L-San Francisco. . 1 StL-San Fran pf. 6% Seaboard Ol Del 4 9% Sears Roebuck 1's Servel Inc. . 1% Sharon Steel Hoop 1% Sharp & Dohme. Shattuck(FG) ( 4 Shell Union Ofl. Shell Unfon Ofl pf mms Petrolm (25¢) Skelly Oil pf ww 5'% Socony Vacuum 35 SolvAm pt ww(5%4). 4% Se Port Ric Sug 1.40.. 861 So Port Ric S pf(8).., 15% Southern Cal Bd(2) 6% Southern Pacific..... 2% Southern Rallway.., 8 Southern Railway wt 4% Spalding (AG). 1 !wkl-wlthlnxton. . 1505 146 1 14 65 6% b 5 138 13% 30% 30% 294 29% 3 3 4N 1% 3w 6 19 1198 134 12% 5. 251 24% 64 64 178 2% 2 10% 13815 137 8% 8 164% 17% 14% 6% g I3 iy 100% 100% 102 102 15% T+ 00+ +1 1 11++1 lHrl L+l #1010 I IBET AR SN | pre Stand Ofl Calif (2).. Stand Oil Exp pf (5). Stand Oil Kansas. 19% Stand OIINJ (12) 4% Stone & Webster. 215 Studebaker Corp. 80 Studebaker pf (7) 68 Sun Oll pf (6). % Superior Ofl. 2% Superior Steel, ington (A) ‘Telautograph (1). Tennessee Corp. Texas Corp (1). Tex Galt Sulph (2). Tex Pacific Coal&Oil. Tex Pacific Land Ty. Thermoid Co Thompson Products. Thompson Starrett. Tido Water Asso Ofl. Tide Water As pf (6) Timken-Detroit Axle 7% Timken Roller Bg(1) 4 Transamerica Corp.. 113 Tri-Contl Corp. % Ulen & Co. 515 Union Bag & Paper. 15‘4. Un Carbide & C(1.: ’D) Un Oil of Calif (1) Union Pacific (6). Union Pacific pf (4). Un Tank Car (1.40). Unit Aireraft, : Unit Carbon.. r Store ar Store pf. Init Corp (40c) . Init Corp pt (3) Tnit Electric Coal Unit Fruit (2)...... % Unit Gas&Im (1.20). Un't Piece Dye Wks. 1% U S & Forn Secur. 26 US & Forn Sec pf... 84% U S Gypsum pf (7).. 11% 36% 15% 9415 T1% 10: 49 37 1037% b5 27 62 60 13 Realty &Imp.... 6 4% 4 4 — %) :» Changes Smail—Trad- 1% U S Steel pf (1) 335 & 31 — % U'S Tobacco (4.40).. 2 i+ Unit Stores pt (3% )+ 10% Univ Pictures 1st pf. 13 Util Pwr & Lt (A). 5% Vanadium Corp '3 Va-Car Chemical 60 Va Elec&Pw pf (6) 7% Vulean Detinning Vulcan Detin pf ( 1 Wabash pf (A). Walgreen pf (6 Warn Bros Pict U S Smtg & Ref (1) ing Light. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, January 13— larly reactionary during the early tmd- ing, today's stock markst rallied in the last_hour and closeG firm at the rest s Warner Quinlan. 1's Warren Bros 81y 25 20 22 80 West Pa Elec A (7).. West Pa Elec pf West Pa BI pf (1) 5 3 | West Pa Pwrpf (7). & ‘Western Pacific. . Western Pacific pf... Western Unfon...... | (8). 507, 7, Al 1| I Westing’se Air B(1). 21 137 7h 137 ¥ Westinghouse Elec 6 Wileox Oll & Ga: Willys-Overland. Wilson & Co..... Woolworth (2.40)... Worthington Pump. . 25% Wrigley 27 4 9% 4 10:30 AM. 1:30 P.M.... | Dividend rates as payments (Wm) (3) 1% Yellow Truck Younzstown Zonite Products Saies of Stocks on New 17 4 York Exchan'e. 110.000 520,000 o the above tab uarterly or half- sed on th $Tnit of trading less than 100 shazes 4% 49 ek “avPatd 103% + | p Payable in scris aid ePlnhle m gash ot stock. 1 Plus $1 1n special preferred stock. 1d lw. Year—no regular rate. nPlus 5% in nut. Partly tiis year_po reguiar, rats.” b ra us 8% In s lPlul CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, January lS—FolloMng is today’s summary of corporation Zew: prepared by Standard Statistics Co., Inc, New York, for the Associated | Automobile Parts and Tires, Goodyear Tire & Rubber Co.—Do-| mestic output said to be 40,000 tires and tubes daily, with plants operating | able in United States funds; on Decem- ber 1 a similar extra was paid, ST INVESTMENT TRUSTS NEW YORK, January 13 (#).—Over- | the-counter market: (Quotations as of 12 o'clock.) B Am Bank Stock.. Bullock Fund | Bl e T b Corporate Tr . Corporate Trii Corp Tr A A m Corporate Trust Accum Ser Gorp, Tr Accum mod.. Dividend s Pund Tr Shrs A Pund Tr Shrs B. Mass Invest Tr. Natjon Wide Sec Y Bk Tr Shrs. foyr days a week, four G-hour shifts a | gip, day; effective January 1, all salaries were reduced 10 per cent and other| expenses were further cut; estimated | reductions will save company in excess of $5,000,000 in 1933. Raybestos-Mznhattan, Inc.—Net sales of company in 1932 are understood to hé‘;le declined about 33 per cent from 1931 United States Rubber Co.—Net sales | in 1932 off between 25 and 30 per cent from 1931. Building Real Estate and Related Lines. Otis Elevator Co. obtained contracts for Government work involving over $400,000. Electrical Equipment and Radio. Cutler-Hammer, Inc., net shipments | in 1932 totaled $3,000273 vs, $5,907, 800 in 1931, Radio Corporation of America pro- | poses to withdraw its continental point- to-point radio applications and to apply for ultra-high frequencies to create a domestic radio telegraph system in | competition with commercial wire tele- graph companies. Leather and Shoes. American Hide & Leather Co. net in- come, including $455,506 Federal tax | refund, was $281,834 in 24 weeks ended | December 10 vs. deficit of $99.444 in 24 weeks ended December 12, 1931, Machinery. American Machine & Foundry Co. de- clared regular quarterly common divi- dend of 20 cents. Metals (Non-Ferrous), Super Super Super Super Super Trust ¥ Tristed Am Bk “A Great Britain has more than 150 [21,039 of the 22,459 homes in Bourne- “haunted” houses. H Organized 1879 Equitable Co-Operative Bldg. Ass'n JOHN JOY EDSON, President Assets. cee today. McIntyre Porcupine Mines, Ltd., de- clared extra dividend of 12!, cents and a quarterly dividend of 25 cents, pay- A T | silver easier, %3 lower at 25%. i Subscriptions for the 104th Issue of Stock Being Received SYSTEMATIC SAVING Always yemember it is not what you earn, BUT WHAT YOU SAVE THAT COUNTS. The Equitable is helping hun- dreds to become financially recognized thru their Systematic saving plan. saver thru this plan? 915 F St. N.W. 0 NEW YORK BANK STOCKS NEW YORK, January 13 - the-counter market > . U Over (Quotations as of 10 o'clock.) 1540 pigd 30w | | ‘\ First National (100) . Manhattan (%) Continental (1,207 | Sorn, Exchange”(4) | Emo! b Sirranty Irving (1 60) o8 Title Guar. & “Frust (4.30). 33% *Includes extras. SILVER QUOTATIONS. NEW YORK, January 13 (P).—Bar Radio licenses have been issued to mouth, England. ‘53rd YEAR COMPLETED WALTER S. PRATT, Jr, Secretary .$6,251,006.24 Are you a If mot—then join S | of the day. There was o activity on the reac- tion and the losses were for the most part unimportant. The market showed such good resistance that the profes- sionals finally turned to the buying side and, while closing prices were only slightly higher, the list had & good un- dertone, Stocks made no response to the over- .nlgm news in the early trading. The most important item, of course, was the passage by the House of Represent- atives of the farm relief bill, but that | was left to the wheat market and the | other commodity trading centers to ap- \pmme ‘When, after an hour of busi~ ‘ne&! wheat in Chicago showed price \armiom in the active months of only i-cent, tte subject was dismissed. As a matter of fact the street does not believe that the bill will ever be enacted into law, The other matter of interest was the objections offered by the British treas- ury to the sale by a subsidiary of Drug, of its holdings of the British Boots Fure Drug Co. on the ground that it would adversely affect the pound. In this case only one stock was affected, Drug, Inc, which was lower but not as weak as the bonds. The British ruling has a wide scope, however. Declines outnumbered advances dur- ing the morning, but practically all of them were fractional. The best support was accorded to Chesapeake & Ohio among the rails and to_American Can, United Aircraft and du Pont among the industrials. Reports from the local mo- tor show were moderately optimistic, and General Motors held within a nar- row range, although there was not much of a turnover. Trading was brisk in the various issues of McCrory Stores, which were so weak yesterday, but without much change in price, It was agreed that the market was giving a good account of itself, every- | thing considered. There was no pres- sure and no real weakness outx‘J) of one or two issues. Last night's state- ment on brokers’ loans confirmed the belief that stocks were still in profes- sional hands and not likely to be hastily liquidated. —_— k of France Statement. PARIS, January 13 (#).—The weekly statement of the Bank of France shows the following changes in franes: Gold decreased 256,000,000; sight balances abroad increased 4,000,000; bills dis- counted at home decreased 863000000 bills bought abroad decreased 21,000, 000; advances increased 98,000,000; cir- culation decreased 621,000,000; current accounts decreased 473 00000 Rate of discount ANNUITY SPECIALIST BOOKLET MAILED ON REQUEST LEROY GOFF 1036 Woodward Bldg. NAt. 0340 Producing Oil Royal lties Déscriptive Booklet Upon Request Union Trust Money on Hand to Loan en First Deed of Trust 6% Interest Applications JAMES F. SHEA 643 Indiana Ave. N.W. New Offerings in 1932 and their Subsequent Market Action As specialists in Power and Light Securities, we were large distributors of the followmg offerings during Brooklyn Edison Co. Gen. “E” 5°s—Jan. 1, 1952. Brooklyn Union Gas 1st Lien & Ref. “B” 5°s—May 12 1957.... Pow. & Lt. Secured Cenv. 515 Commonwealth Edison 1st “G” 514’s—June 1, 1962 Connecticut River Power 1st S. F. “A” 5’s—OQect. 1, 1952.. Consolidated Gas Co. of N. Y. Deb. 5’s—July 15, 1957.......... Towa Elec. Lt. & Pow. 1st “C” T’s—Aug. 1, 1942 Columbus Ry. 1932: Name of Company R WS Tssue Price 97 98 94 93 94 94 100 *s—April 1, 1942 Kansas City Pow. & Lt. 1st 416’s—Feb. 1, 1961... Kentucky Utilities 1st Lien “J” 7’s=—Feb. 1, 1967.. New York Edison 1st Lien & Ref. “C” 5’s—Oect. 1, 1951.... New York Steam Corp. 1st 5’s—Nov. 1, 1956... 100’ 97 94 Peoples Gas Lt. & Coke 1st Ref. “C” 6’s—June 1, 1957_...__ Public Service of North Illinois 1st Lien & Ref. Conv. S. F. s—July 1, 1937 on Co. 1st Mige. 5’s—Nov 1, 1961. Union Electric Light & Power General 5’s—April 1, 1957,_ Virginia Elec. & Pow. Sec. Conv. 516’s—March 1, 1942 Municipals Baltimore City 4's—1961............ State of Maryland 414’s—1947 G/LLeT & Co. Investment Building Price Jan, 5, 1933 107 10634 10514 10614 9914 105 991% 104 90 1073 10214 10615 10734 9814 10414 1037% 101 10814