Evening Star Newspaper, February 2, 1933, Page 15

BONDS AR LOWER | AS SELLING GAINS German and Junior Rail Is-; sues Are Featured on Downswing, BOND UNITED STATES. (Sales are in_$1.000.) High. Low. 3:85. Lib3%s32-47... 10317 10314 108 14 Lib 1st 45 32-37.. 10216 10216 Lib 1st 4348 32-47 102 26 Lib tth 435 33-38 103 16 U S3s51-55 98 24 S314846-49... 100 S3%s M41-43. 102 24 US3%sJ 40-43.. 102 26 102 20 105 14 BY CHARLES F. SPEARE. Bpecial Dispatch to The Star. el NEW YORK, Feburary 2—Without '\, paps many exceptions, the bond market to- | Al & St 5148 day followed the markets for stocks into | Alleghany 5s'44... 66 Alleghany 5s°49... 20 & lower range of prices. Allegnany 5s°60. .. 45 There was & certain amount of spec- | Allis-Chalm 5s'37. 12 ulative selling by dealers who had | Am F P 55 2030 64 AmIGChb%s taken a bullish position on lower grade | A™ LG Ch £t rails and public utilities and in German ; Am Sug Ref ¢ dollar loans. At the same time the|Am T&T ¢%s developments of the week here and Am T&Tctr 3 abroad have been detrimental to main- | Am T&T deb 5860, : ; taining prices at recent averages. | Am T&T deb 63 °65. 34 German issues were 2 points lower | Am TAT 5%s'43.. 22 in London this morning. After start- | Am Wat Wks 58'3¢. ing here at fractional declines, the list | Am Wat Wks 6s ‘7§ softened and went 1 to 1'2 points be- { Am Wr Pap 65°47.. low Wednesday's closing. Canadian | Antioquia 75'45... loans were again heavy in spite of & | Argentine 5%s'62. better showing for Canadian exchange. | Argent 6s 61 May. The Dominion 4'2's touched & new low | Argentine 65°59 Ju price for the year, about 6 points under | Argentine 6s ‘69 O¢ the recent high. There was Suhsu“'IArgonllansA'E’l. tial improvement in some of the!Argentine 6sB'58. Chilean loans, following announcement | Arm & Co 4145 °39. that progress in the foreign debt situa- tion was being made. Nearly all of the junior rails were heavy. Baltimore & Ohlo jssues were down 1 to 2 points in spite of the an- nouncement that the consent of over 90 per cent of the holders of the 4!3s to | the new plan had been received. Mis- souri Pacific issues were also weak. All of the temporizing With the company's | finances fails to create a X}avornble ntiment among _eithcr speculators or 58 Savestors. New' York Central, Penn-| Austrian 7543 sylvania, Southern Pacific. Chicago & | Austrian 78’57 Northwestern, Rock Island and Alle-: g &0 1st ghany bonds were all depressed. There was even some shading in the prices of the high grade rails. The feature of the industrial market was a break of 2 points in United States Rubber 5s, which sold at a new low for the year. United Drug 5s were off a 114 111 Sales. High. 53, 6 14 3 lUs4user-sz. e Soklaluauwansn Atchis 45 150 Atchison gn 4s >~ AtICL un 4148’64, At] Gult&W15s'59. Atl Ref db5s'37... Australia 43385 Australia 53°55. Australia 6s '57. PR 40 108% 1 70 6% T4 93% L 03 69%, T4 T4% 931 60 85 9 R & Oref 5s°95. B&Orf 55D 2000.. B&OTf6sC"9l B&OP&WV 4 B & O Sw dv 5350, THE EVENING STAR, WASHINCGTON Fram Ind 7%s"42. French Gov 78 '49.. 76 121% 3 126% French Gv 7%s 41 Gelsenk'hen 63 °34. 40 Ger Cent Bk 6 Ger Cen B Ger Cen Bk Ger Cen Bk 78 '60.. Ger Gen Elec §s Ger Gen El 78 '45 Ger Gov 5%s ‘6l German Rep 78 GoodHopeS&I 7 Goodrich 6s ‘45 Grand Trunk 7s *40 Gt Brit&lIr 6%8s'37 Grt Nor 4138 D'76. Grt Nor 448 E*77. Grt Nor 5%s B '52. Grt Norgn7s'36.. Halt1 68'52. . Hudson Coal bs 62. Hud & M adj 58 '57. Hud & M rf Humble Ofl 53 °37... 111 Bell Tell Il Centcl tr 111 Cent rf 43 °55. .. 111 Cent 4% "66.... 111 Cent ref 55 '55.. 111 CCStL&N 4%s. 111 CCStLEN bs A.. 111 Steel db 4148'40. Inland St 4338 A'78 Inland St 43 B'81 Int Rap Trrf 5566 Int Rap Tr 7s Int Cement 58 Int & Gt N 53 B'56. Int & Gt Nor 6852, Int& G Naj 68°52. Int Hydro El 6s'44. Int Mer Mar 6s 4 Int Pap ref 58 A'47. Int Pap 63 ‘55 Int Tel&T 4% IntTAT 4% IntT&TSs Italy 7s°51. Kan C F S&M 4536 Kan C P&L ¢%s Kan City Sou 3s'50. Kan City Sou 5s'50. Kan City Ter 45'60. ON NEW YO STOCK EXCHANG Received by Private Wire Direct to The Star Office. 8 101 684 100% 121% 100% 121% 125% 125% 67% 67% 1004 53 62 5415 6% 33 63 88y 103% 107 46 b7% 1.S. GOLD STOCKS WELL MAITANED, I ACTIVE MARKET e iCollateral Requirement for Reserve Notes Is Covered Nearly Twice. BY CHAS. P. SHAEFFER, Associated Press Business Writer. ‘The Government held in its vaults 78 Federal reserve notes issued to reserve banks on December 31, 1932. ‘Ti:!s fact is revealed in the monthly statement of the Federal Reserve Board which showed gold collateral held by agents as security for notes issued |amounting to $2.351,675,000, securing’ $2,987,015,000 issued to the reserve banks. The gold requirements under the Fed- eral reserve act provide for a minimum on 40 per cent of gold, the balance to be made up of either eligible paper or bonds of the Government. The gold security back of the notes in actual circulation on the above date was 86 per cent, backing up the $2.- 738,608,000 of notes in actual circula- tion. In like manner the eligible paper amounting to $219,888,000 pledged as security and the $427,800,000 of Gov- ernment _securities similarly pl brought total note coverage to 100.41 per_cent at the end of the year. The Federal Reserve Bank of Chicago had the highest security back of its notes, its gold amounting to $699,870,000 providing a gold base of 97 per cent for its note liabilities of $733,788,000. The Federal Reserve Bank of New York was next highest with 90 per cent, having circulation of $671,069.000 and gold re- serves of $616,630,000. The Boston district also had a higher ratio than the average, its gold reserves of $181,- 027,000 providing an 84 per cent base for liabilities of $214,440.000. In the table that follows the note liabilities, gold security and percentage of coverage is given for the 12 regional institutions, as compiled from the Fed- eral Reserve Board's report: (000 omitted.) cents in gold to secure every dollar of | ged | (CURB SHARES DROP iCanadian Gold Stocks Move Against Trend—Declinés Are Small. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, February 2.—Pressure against public utility and petroleum shares and brisk bidding for some of the Canadian ‘gold stocks featured to- day’s active and lower session on the Curb Exchange. ‘The usual market leader. Electric Bond & Share, was outdistanced ia point-of volume during the forencon by the low-priced De Forest Radio, which came out in several big blocks. Elec- tric Bond & Share moved within a fractional range. Standard Oil of In- diana, likewise, was ‘only off slightly, but several times it came out with vol- ume offerings. Citles Service wes not much changed. The Roosevelt proposal to make a huge laboratory in reforestation, rec- involving the to aid unem- to the many . territory as Tepnessee watershed, Muscle Shoals project ployment, was intere: power companies in t: that have been bidding for the prop- erty. Commonwealth & BSouthern, for in- stance, would be right in_the heart of this project. American Cyanamid, for a time at least, was considered the most probable recipient of Muscle Shoals for industrial purposes. Neither of these shares moved much during the first severa] hours today. The’ announcement of a tire price cut by Firestone was not immediately mirrored in the rubber classification, which has been dull and heavy these last few weeks. Lake Shore Mines, which in 1930 and 1931 output ranked first as a gold producer on the North American conti- nent and fiith among the world's gold mines, was bid up elmost 2 points in as many hours today. Beyond the boom in gold shares in Johannesburg, London, Paris, Montreal and Toronto, lamation, power, and farming in the; well as some of the chemical concerns | D. C., THURSDAY, FEBRUARY 2, 1933. T FINANCIAL. N. Y. CURB MARKET ir Iny Inc vtc. AirInvev pt... Alabama Pw pf () 10s Aluminum of Amer85/ Alum Co Am p£(3).1508 Am Beverage. ‘Am Book Co (4)... 24 Am Cit P&L A (a3) Am City P&L B 15¢ Am Cyanamid B. .. Am Equites Am Founders...... Am Gas& El (11).. Am Lt & Trac (2).. Am Maize Prod(1). | Am Superpower | Am Super 1st pf | Am Thread pf Arkansas Nt Gs A 1 Asso Gas & Elec... 1 Asso Gas&Eleo (A) 25 As50 Gas & Elec pt 808 Atlas Utllities 16 Atlas Util war. 1 AtlasUtilpf A (3). 1 Axton Fish A 3.20. 1258 Benef Ind Loan 1% Bliss Co (EW). Blue Rid; Blue Ridge c pf a3. Brill A e Brillo Mfi (60c) . Buft N&E pf (1.60) Buff N&E 1st pf(5) Cable&Wire A rcts ble & Wire B reta Canadian Marconi . Carolina P&L pf(7) 251 Carrier Corp. Celanese Cp pf (7). 258 Celanese 15t pf. Cent HudG& | Cent States Elec... 22 | Cent & Swn Ut pr i 408 CenStEI6% pfxw 1 Cities Service..... 48 Citles Service pf. 1 Clev Elec Tllu1.60. 1 Clev EI Illu pt (6). 108 Col G & E cv pf(5) 8008 Comwith Edis (5).. Comwlth & Sou wr. Comstock Tunnel. . Cons Gas Balt 3.60, Consol Retail Strs. Copeland Prod Inc. Cord Corp. . o «<orroon & Rey pf A Creole Petroleum. . Cresson Consol k2¢ | Crocker Wheeler. | Deere & Co. 6% | 2 ] Niag Hud Pwr (1). 19 12% az Sha(Md)B20¢c, 1 5% orth Am Lt&Pwr.2508 5% North EuropOil... 2 & North Sta P A (6 4 34% North 8 Pw pt (7). 1508 7 Northw Yeast (12) 50s 121 Novadel Agne (5).. 2 44% Ohifo Copper....... 7 % PacG&E1stpf1% 2 24% ke Davis (1)... 2 Penroad Corp. g 1 1% Penn P& L pf (7). 508 Thoenix Secur pf. . Pilot Radio Tube A 3 Ploneer Gold 24c.. 29 Pittsbgh&LE(2%) 508 Pitts Piate Gls (1). 1 Prudential Inv.... 9 Pub Ut Hidxw.. 8 Pug Sd P&L $25 pf. 508 Railway & Lt Sec.. 258 Reliance Int A 10 Rellance Manage.. 1 Richfield Oil Cal pf 3 Rolls R(k26 9-10c). 1 St Regis Paper.... 4 St Regis Paper pf. . 108 Salt Creek Consol.. Security Allied Cp. Seeman Bros (2%) Selby Shoe (1.40).. Selected Industries Sel Ind all efs(5%) Select Ind pr(5%)n Shawin W&P (50¢c) Shenandoah Corp. . Shenandoah pf.... Fouth Penn Ofl (1) Sou Cal Ed pf A 1% Sou Cal Ed pf B 135 SouCalEdpfC1% 1 Southland Roy 20c. 1 3%, Spieg May Sternpf 1 28 Stand Ofl Ind (1).. 97 20% Stand Oil Ky 1.20.. 4 10% Stand Oil Ohio 1%. 1 19 Stein A& Copf 6% 208 Stutz Motor Car 5 12% 5% % % 4% & 34% 70 120 43% kL 24% 18% 1% 93% 10 1% 4 334 34y 70 120% 2 3 11 1% 1 4 2 3 1 1 42 43 8% 1 . 1 13% 1% 1 27 4 41, Tig 41 26 3 3% T 70 3w 1% 47 1% 2 4 3 1 Technicolor....... 6 Tech Hughes (60c) 70 Texon Ol & Ld (1), 4 Toledo Edison pf 6. 408 Trans Air Trans... 5 Trans Lux DLPS. 1 Unit Alr pfAxw(3) 1 United Founders... 18 United Gas..... 12 14%. | INQUIRY ON AUDITS y J » Directors Make Request for Information Affecting Se- " curities on Market. By the Associated Press. a NEW YORK, February 2.—The New York Stock Exchange has moved a step further in its campaign of tightenjng up listing requirements. t The Exchange addressed a questfon- | naire to all companies which' have | securities listed, requesting detailed in- formation as to the scope of: their audits. . | Only recently the Exchange..ruled that companies seeking new listings must have independent auditors.pre- | pare their statements, and Ricbard Whitney, president of the Exchange, | explained today that the questiomnaire now being sent was part of a study which may lead to more drastic regula- tions. : | . Exchange officials have for some time | been considering the desirability of re- | quiring independent audits, along cer- | tain approved lines, by all companies | whose securities enjoy trading 'privi- | leges in the Exchange. | The letter to companies said the | public response to the recent ruling on ew issues “indicates clearly that in- ependent audits are regarded -by in- vestors as a useful safeguard. | “If, nowever, such a safeguard s to | be really valuable and not illusory, it | is essential that audits should be ade- quate in and that responsibility assumed by the auditors should be de- fined. The Exchange is desirous of | securing from companies whose securi- | ties are listed. and which now employ | independent auditors, information which :w)l] enable it to judge to what extent these essentials are assured by such audits.” 7 The information is requested upon completion of the audits of the com- panies for 1932, and among’ questions asked are whether the scope of the | audits is as_extensive as that contem- | plated in a Federal Reserve bulletin en- 1% | titled “Verification of Financial State- 3% | ments”; whether subsidiaries were au- 17w dited, and if not, the relative impor- 1 | tance of the subsidiaries; whether the 5 | companies believe their statements are 22y, | such as fairly to present the results of 10% | operations and financial position; 14 | Whether the system of accounting con- 4w | forms to accepted practices, and 14 | whether it is in any respect inconsist- 7% | ent with the recent recommendations 20 | of the committee of the American In- 1% | stitute of Accounts on co-operation De Forest Radio. Detroit Alrcraft. .. Eastr G&F pt (6) El Bd & Share b6 % 2' Bd & Share pf 6. El Bd & Share pf 5. Pwr Assoc(40c) Pwr As A (40c). c P & L op war. c Shareholding. Sharehold pf (6) Kan G&E 4%45'80.. Karstadt 6s '« Kreage Found Kreug & Toll5s'69. Laclede Gas 5s ‘34, Laclede 5% C 53, Lautaro Nit$s'54. Leh Val cn 4s 2003, Leh Vcn 435 2003, Leh Val cn 55 2003. Lig & Myers 5851, Lig & Myers 7s *44. Loew's 63 '41. point and Texas Co. 5s, Tobacco Prod- ucts 6!2s, Philadelphia & Reading Coal Bs, National Dairy Products 5's and Bethlehem Steel 5s of 1936 were near or below previous minimum_guotations for 1933. Paramount-Publix 58, which have just gone into default, have recovered several points, after the fash- ion of many other bonds which seem to be worth more in the market when they suspend interest than when they are paying it. United States Government loans held there was nothing-to account for this 's | spurt. Teck-Hughes, which during the same two years ranked sixteenth in world gold mine output, was steady. So were Hollinger, Wright-Hargreaves and Pio- neer, which ranked seventh, thirty- eighth and eightieth, respectively, in world production. ——— \Petition in Bankruptcy. Ban & Aroos 4s'51 Belgium 5 Belgium 638 '49 Belgium 78’66 Belgium 7s "5l Unit Lt&PWr (A).. 9 UnitLt& Pwrpf.. 1 Utd Molasses Ltd. 1508 USElec Pwrww.. 1 US&Intlistpf... 1 U 8 Play Card (1). 1008 Universal Insur UHIP&LL... UtlP&LBetfs.. 1 UHIP&Lpf(7).. 508 Utllity Equities... 1 Util Equities pf Boston .. Louis Minneapolls Berlin Cy El 63 °56. Kensas City Berlin 6148 '50 Berlin CEl 6%s'51. Berlin CEl 6%s'S Beth Stl pm 5s '36. Nemoan » & 40 close to their recent high prices. The Treasury 41;s were above 111 and the Bolivia 7’68 Bolivia 75 '69. Bolivia 8347 Long Islrf 4s 4s over 107, with the 3'gs slightly above par. Bordeaux 6s'34. Bos & Me 55 '55... New York Cotton BrazilCR 7s°62 Brazil 854 Bremen 7s '35. Bocial Dispach to The Star. Bklyn Ed 6s A NEW YORK, February 2.—Cotton prices here today opened off 1 to 3 ints, despite the slight gains recorded fr? the Liverpool market. Opening quotations were: 8.76, off 3; May, 591, off 2; July. 6.03, off 2; October, 621, off 3; December, 6.35, off 2; January, 6.39, off 1. INVESTMENT TRUSTS NEW YORK. February 2 (#).—Over- & the-counter market. (Quotations as of 12 o'clock.) Bid. Asked. 107 Las Bklvn UnGasss'45. Bklyn Un Gas 55’50 Bklyn U Gas 5357, Budapest §s'62, Buenos A R 636 BR & Pitts 438’57 Bush Ter con 58'55. Bush T Bldg 6s'60. Canada 4s March, Can Nat Ry 4% Can Nat 4% 68 Can Nat Ry 4% Can Nat 5568 July Am Bank Stock Bullock Fund . Cumulative Tr Sh Corporate Trust . ast A Corp Tr A A mod. . Corporate Trust Aceum Ser. Corp_ Tr Accum ser mod.. Dividend Shrs Tr Shrs B’ sh Can Nor db 649’46, Can Nor deb 7s 40, Can Pac db 4s. . Can Pac 4%s '46. Can Pac 4%45°60... Can Pac 55 '44 ctfs. Can Pac 58°54...., Car Clin & O 55°38. Cent 111 E&G bs 51 Cent Pac 1st 4549, Cent Pac 55°60.... | Cen By NJ wn et 48, Ches Corp 58 '47... C&Ogen4%s'92. Nor Am Tr Sh_l¢ ncer Trask Fund of Am Tr A . of Am Tr A A of Am TG uber of Am Tr D . gll::rfls(fl Shrs . Frict Ring St Thusteed Am e o 28 92 92 1 105% 105% 7 92% 92 Washington Stock Exchange SALES. After Call. Wash. Gas 5s 1958—$9.000 at 944, Pot. Elec. 6s 1953—$1,000 at 108%. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Tel. 4l 3 Amer. Tel. & Tel.‘ctl. tr. 58 Anncostia & Pot. R. R. 5s Ana & Pot Guar C. & P. Tel. of Va. 3s Capital Traction R. R. City & Suburban 5s Grorgetown Gas 1st Potomac Elec. Cons Potomac Elec, 6 Washington Gas Washington Gas 55 Washington Gas 58 v s fs. series A 2 31 Chi Ind&L gn 6s'66 C M & StP gn 45'89. Chi M&StP 4%sC C M&StP 4%s'89.. C M StP&P 5 CM&StPad)s Chi&NW 4345 2037 ChI&NW 4155C'37 Chi & NW 4%s Chi RI&P rf 4534, 4 ChiRI&P 4%¥'62 ChiRT4%s'60. CTH&SE in 5s Chi Un Sta 4% Chi Un St 58 "44. Chi Un Sta 58 B'63, Chi Un Sta 634863, MISCELLANEOUS. SeWIngenixss er & Ross. Inc 50 nd 5% s Bhehy chase Ciub st ) Childs deb 5543 Columbia Country Club 5'as. ‘l"l; ] Chile 6360 D C. Paper Mfg. 8. ... i h. Mkt. Cold Storage 5s.. 91 Chile 6s'61 s “STC Chile 63 '61 Jan. STOCKS. Chile 6561 Sept. .. PUBLIC UTILITY. Chile 6562 Amer. Tl & Tel (0. Chile 6363 apital Traction Co.. Chile7aea L e Chile Cop d 3 T 14 Chl Mtg Bk 648 '57 Cin Un Trm §s 2020 CCC&St L 414 sE'T7 CCC & St L 53 D'63. Clev Term 53 B '73. Cley Ter 534 8A'12.. Cologne 6% '30. . Colomb 6361 Jan. Colomb 6361 Oct. . 36% Colo & Sou 4% °35 83% Colo & Sou 433’80 55% Col G&E 55 °52 May 13 83 CelGas & E 58" 83% 83% 103% 102 100% 1008 103% 108% Bid. Asked. 26 11% 114 11 102% 102% 3 45 51 66% 69% 46'% 36 The following figures are not bids. but merely represent minimum prices fixed by the Washington Stock Exchange. NATIONAL BANK, Capital (8). Columbia (i Commercial {: Blsirict (6) .-Amer. dverty (75). . ncoln (10)° etropolitan (10) ggs (12) cond (7). Washington TRUST COMPANY, mer. Sec. & Tr. Co, (12). atl. Sav. & Tr. (121) rince Georges Bk. & T nion Trust (Xs)... . Wash. Loan & Tr. (14) SAVINGS BANK. Bank of Bethesda (65) gom.\\‘!vz !R,VHI[“ \!:‘; S Washineton otomac Savings Bank (10} 5 . & Com. Bk, (10y) Sventh. Sireet United States (30) ‘Wash. Mechanies (2 FIRE INSURANCE. American (12) Con Pwr Jap 6% Con Pow Japan 7: Copenhag 415 ‘53 Copenhag s ‘52 Cuba 53345 Cuba R R 1st Cuba RRrf 73,536 Cuba Nor5%s'42.. Czecho 8s°51 Czecho 8s '52 Denmark 4%s’62.. Denmark 5%s '56... Denmark 6s 42 Denver Gi D&RGren4s'd (1 ational Union (181 2 % TITLE INSURANCE. olumbia (6h) . Real Estate (4h). . 'MISCELLANEOUS, Col. Medical Bidg. Corp. (6) ist. Natl. Sec. pfd . e Bl Sel Federal Storage pfd. Fed -Am. Co. com 5& -‘.\m ]\f" pid. b hsion Monotype (t Mer. Tr. & Stee ¢ - REARENACR~A ANA-ALARNAR Det Ed 4%s D Det Edison rf Det Edisen F: Det Edison 5 2 A0 15 80 58 89 74% '61.. 5s'49 25 (80¢) P 'S Duquesne 4% A '67 13" | Duquesne 4% B '57 DEI5%s’53Nov. & 8., | Dutch East 1 6547, 11 2%"' Erte Con 45 '96 - 5 u 1 ash. Me . & Lothrop o i Wdwd. & Lothrop pfd. (7). SEx dividend. Erieref 5s'67. Erleref5s'75. Fiat deb 7s '46, Tinland 5%s'58.... Finland 6%8 56u.a 58 162 §17. extra’ 1% extra, 6 63 Lorillard 7s '44 La & Ark 5569 Lou G & El 53 A"'52. L&Nuni4s'40.... L&N4%sC2003.. B 2003.... McKes & R 5%s'50. Man S 1st T1;8°42. . Manhat Ry cn 45'90 Market St 7s A 40. Marseille Midvale Stl 55 °36. . Milan 6%s '52. MI1 E Ry&L 53 °'61. Mil E Ry&L 58°71. MSP&SSM en 5s°38 MSP&SSM 5%s 78 MK & T 1st 43’90, Mo Pac gn 4575, MoPacrfbs A Mo Pac 6s F'77 Mo Pac5sG'78 Mo Pac 5s H'80 Mo Pac 6s1°81. Mo Pac5%sA™).. Mont Pow 53 *43. Mont Pwr 5s A " Mont Tram 55 '55 Mor&Co 1st 4 Nassau Elec 4s ‘51, Nat Dairy 635’48 Nat Steel 53°56 rf4%s2013, rf4%s82013n Crfbs2013. N Y Edison 55 B'44 N Y Edison 5s C'51. NYFArf6ls'41 NY NH&H 45 '5: NY NH&H 4s°57... NY NH&H 4 %367 NH&H clt 6240 NYNH&H 6s°48... NY O&W gn 43’55, NY O&W rf 48°92.. N Y Steam 53°5 NY Telgn 4 %s NY W&B 443 °46... Nia Sh Md 5% Nord 614s'50. Norf Sou rf 55 North Am Co 55’61 Nor Am Ed 55 A’57. Nor Am Ed 55 C'69. NorAmE5%s'63. ¥ Ger Lloyd 6s Nor OT &L 6s'47.. Nor Pac gn 3s 2047 Nor Pac 45°97. Nor Pacr 2 Nor 8t Pw 5s A Norway 5s'63 Norway 5%s '65. Norway 63'43... Norway 63’44 Norway 6s ‘52 Oreg-Wash ¢s Orient Dev 5348 '58 Orient Dev 65 '53. . Pac G&E 5542 52 Pan Am Pet 654 "1 Param-Pub 5% Paris Or 5%s 6! Penn P&L 43381, Peop Gasref 55’47, B0 Sor R r RN NN NS JOWIRO - NramuNSRuca~Sne Sam Pere Marq 4%s'80. 1 Pere M 1st 53°56 8¢ Phila Co 586 Phila Blec 4s - | PCC&StL 4148 C'1T PCC&StL 58 A '70.. PCC&StL 5s B'T5.. Pdland 65 *40. . Port Gn El 4%s 60 Porto Alegre 8s'61. Por RAm T 6s5'43.. Pub Sv G 4% s 70, Pure Ofl 53837, Pure Ol1 5%s°40. Queehsland Queensland Read 4%8 A 97 Read Jer Cn 4s°51. Rem R 5% sA’4Tww h 52% 56 43 L BANKERS’ JOURNAL SEES FISCAL REFORM AS NEED | By the Associatéd Press. = NEW YORK, February 2—The American Bankers' Assoclation Jour- nal says the condition of business dur- ing the month ended January 15 was better than the condition of business sentiment. f The publication attributes lack of confidence largely to absence of “def- | inite progress at*Washington on pro- grams of eccnomic helpfulness and fis- cal reform through adequate economies, more productive and equitable taxation and a balanced budget.” Baltimore Port Arrivals: BALTIMORE, February 2 (Special). —Two hundred and four vessels ar- rived in Baltimore during the month of January, according to the maritime exchange. The United States led in arrivals, with 163 vessels, and Great Britain was next, with 12. _Among the arrivals were 27 motor ships, 40 oil and molasses tankers and an Army transport. Rhine West Rhine West Rhine West ; Rich Ol1 Cal 65 '44. Rio de Jan 6148°53. R Gr Do Sul 6s'¢3. Royal Dutch 48 StL IM R&G 48'33. StL&SF4l4s'78. StL SF 41%s'78¢t at St L&SF 53 B '50. St L SW 1st 58'52, St P Un Dep 53 '72. S Seab AL 6sA Serbs-Cr-S1 8s Shell U Ofl 5347, Shell U O 53 *49ww. Shinyetsu 6138’52, Silesia Prov 7s '58. Sinc Ol 6%s B '38. Sinc Ol 7s A 37 3 9! 99 Sinc PL6s’42... 103% 103% Skelly Oll 535 °39. 65 65 ‘38 100% 100 v 9% 91% 106 106% % 5dr i;u Sou Bell T&T Sou Pac col 45 '49 Sou Pac rf 4s Sou Pac43s'68 Sou P 4%5'69 ww. Sou Pac 43s°31. .. Sou P&Or 4% 8A'77 Sou Ry gn 45 Sou Ry 53°94. Sou Ry gn 6s Sou Ry 6%8 5 29 29 106% 1064 s 104 104% 9% 99y 33 33 97 97 104% 104% 51, Studebaker 63 "43.. Sweden 5%s'54... Swiss 5%s 46 Tatwan E P 5% 71 Tenn Cop 65 B '44 Tenn E1P 6s A " Tex & Ark 5%5'50 Tex Corp cv 5844 Tex & Pac6sB'1T. Tex & P 55 C*19 Tex & Pac 53 D80, Third Av rf 45°60. . Third Av 1st 55'37 Third Av adj 55 °60. Tob P NJ 6345 2023 Tokio 58 5 Toklo 53 ‘61 Tokio El Lt 6353 Un EIPSL ref 55’33 Unton Bl L& Un Pac 1st 4 Un Pac 48 '68. Un Pacrf 4s 2008.. UnPac4%s'67.... UnPistrf 5!230!. - 9 ww Util Pow 6%s "47. Vienna 6s°52. Va E1&Pwr § Va Ry 1st 58 Va Ry & Pw & Va SW 1stcn bs Wabash 43478, — = EnnakSi8ioovnn walun aFon~ - Westphalia WEOGbY%s Wil & Co 1st 6s°41. ‘Wis Cent Tm 45°36. o Yentn SAT b5 A" Tgstn 84T bs B & g BALTIMORE, February 2 (Special). —A petition has been filed in the United States District Court by E. Samuel Culver, the Thomas Somerville Co. and the Westinghouse Electric Sup- located in Md, be ad- bricating_ Corporstion, Prince Georges County, Jjudicated a bankrupt. The petitioners claim that they are creditors of the defendant in sums ag- gregating $709.84 and allege that it is insolvent. Mill on Full Time. i MARTINS FERRY. Ohio, February 2 (#)—The Yorkville Tin Plant, which for several months has been working on a 75 per cent production basis, will operate at maximum capacity, company officers announced. BONDS ON THE CURB Sales in DOMESTIC BONDS. High. Low. Noon Tu” 65 39 10 Clev El Tilu 55 A '5%. 10 Com Ed 4.5 C 'l B Ed 1. D s 37 B8 * 5las L GEmp O & R Federal 2 Pisk Ri 10La P & L 55 3 3 Manitoba Pw 535 '5 5 Mags Gas 5s '55. . 21D e 0% a8 022222 22! 312 93%s 90 " 90" 41110% 110% 110% 2 1057 10575 1057 42 10513 1000 s 10213 102 107% 107% 74 86 843, 388883 RPPENIOIIIIITT 8" 8 n? AL ! 2 T6Y% 10430 104% 10434 2 1047 1047 104% 1043 1043 1043 e B3 KK 4 64 461, 48% 46Y, 46° 46 468 212 ORI 2 Dk 0 R U Mt 3113 T 5 SO, R B2 P LR [y F23 355555599 ¢ e23,23535u 22550 &F FeF - aee 3 A 8s '52 8 5%s B '58. , O 1010 SRS oy = ? 35 & oo o R3B»3: o B ACISI S R Eao = . ORI 01m BRI LS At 19 5 <1t 222858 TR s Www—With warrants. —Without warrants, D—New. ‘Wi—When iesued. ply Co. asking that the Quality Lu-| 8 & PO SO Ford Motor Can A. Ford Motor Ltd. ... | General Aviation Gen EIl Ltd 20 2-5c., cv pt | Georgia Pw pf (6).1758 Glen Alden Coal . | Globe Underw Goldman Sachs Gold Seal El new eit A&PT pf (7) 1 Gt A &P Teapt (7) 108 GulfOflof Pa..... 3 Hollinger G1d t80c. 12 | Hudson Bay Min... Humble Ofl (2). . TP&LDpt (6).. InsCoN Am (2). Int Petrol (1).... nt Ul A..... Int Util B. Inters Pwr(Del)pf. Italian Superpw A. Ital Superpw db rts Lake Shore M (2).. | Lakey Fdy & Mch. Lehigh Coal&XN 40c Lone Star G béic. . Long Isl Lt pf (7). Louisiana L & Ex. . Mavis Bottling A. . Mayflower Asso(2) Memphis Nat Gas.. Mesabi Iron 8 Met Edison pf (6). 258 Midl West Utilities 3 Mont Lt H&T 1%;.., 1 Mountain Prod 80c. 1 Mount St T&T (8). 10s Nat Aviation. . Nat Bellas Hess. Nat Fuel Gas (1).. Sab New Eng 1w pf (6) 50s New Jerse. Zinc2, 2 Newmont Mining.. 2 16% 16 16 N Y Telpf (623)... 258 116% 116% 116% Grain Market By the Associated Press. CHICAGO, February 2.—Indications of liberal new export business in Can- adian wheat, additional to yesterday’s big total, helped to steady grain values todas. Weakness of various securities at New York, however, eased the wheat market late. Winnipeg messages said today's over- seas buying of wheat totaled more than 500,000 bushels, and that the aggregas for 48 hours exceeded 3,000,000 bushels. Wheat closed easier, unchanged to Vs off, compared with yesterday’s finish; corn unchanged to sal, down, oats showing lsaly decline o i and provisions WHE, an July s September .| CHICAGO DAIRY MARKET. CHICAGO, February 2 (#).—Butter, 8815 tubs; ; creamery specials (93 score), 1713a18; extras (92) 17; ex- tra firsts (90-91), 161;; firsts (88-89), 16a16%,; seconds (86-87), 15%; stand- ards (90 centralized carlots), 17. Eggs—11,818 crates: steady; firsts, 12 fresh graded firsts, 12%; extra Vs % currents receipts, 11%. e \ . . Producing Oil Royalties Operated by the largest oil com- panles provide attractive monthly returns for large or small investors. Write for Descriptive Booklet Southern Bldg. Na. 6625 67 WITH SAFETY IN 0 “FIRST MORTGAGES m:l. choose Prodycing properties 1n the Nations Cavit ANDREW E. FODOR GUARANTY It you have money for invest ihese sate ’n{,‘n-mxlm First Mortease Bonds, swminaddens s Money on Hand to Loan on ' First Deed of Trust " 6% Interest l‘-—-bhel-fl:nl Applications - JAMES F. SHEA 643 Indiana Ave. N.W. 2 408 with Stock Exchanges, Walker (Hiram).. Watson (J W). 1 4 1 4 % % | POTATO Westvaco Ch pf(7) 258 584 Woodley Petrol.... 1 2N Wool Ltd k25 1-5e. 1 2% 124 Wright Harg t20c. 54 4 4 Dividend rates in dollars based on last quarterly or semi-annual payment. dividend. 1Partly extra. 3Plus 4 in stock a Pavable in cash or stock. bPayable in . e Adjustment dividend. fPius 5% - "&Plus 6's in stock. hPlus i%s JPius 2% in stock. K Plus 10% n stock. mPlus 3% in stock. n Plus 8% in stock. P Paid last year—no regular rate. Market Averages By the Assoclated Press. 20 (Copyright, 1932, Stand. Statistics Co.) “Ex | MARKET. | CHICAGO, February 2 (® (United | States Department of Agriculture).—, | Potatoes—Receipts, 51 cars; on track, {198; total United States shipttitnts, 568; demand very slow: supplies liberal, |including truck receipts; Wisconsin Round Whites, few sales 6774a70; Michigan Russet Rurals, 67';; Idaho | Russets mostly 1.10a1.17'2, few higher; | Colorado McClures, 1.20. r ey Bank of France Statement. PARIS, February 2 (#).—The weekly | statement of the Bank of France shows | the following changes. in francs: '‘Gold {decreased 139,000,000; sight balances |abroad increased 4,000,000; bills' dis- | counted at home increased 535.000,000; bills bought abroad unchanged: ad- | vances decreased 20,000,000; circulation |increased 288,000.000; current accounts increased 228,000,000. Bale ot discount i pen cent e We Will Sell p Subject r Hotel 1st Gs. .. Hotel 1st C Ds rdman Real Est. Prop. | coLoNY coMPANY | Met. 2721 Wash. Bldg. CAPITAL & SURPLUS, $3,500,000 Have You a " Safe-Deposit Box? Paid on Checking and Savings Accounts —in which to keep safe from fire, thieves and prying eyes, your small valuables, such as jewelry, bonds, stock certifi- cates, deeds, agreements, in- surance policies, your last Will and Testament? i ® We have Safe-Deposit Boxes of various sizes for rent, at very reasonable prices. ® The small cost is a mere trifle, as compared with the security af- forded . . . to say nothing of the Jreedom from worry, concerning their safety. NATIONAL SAVINGS & TRUST COMPANY The Oldest Savings Institution in the District of Columbis Corner 15th and New York Ave. f SAFE FIRST MORTGAGES™ CONSERVATIVE INVESTORS are adopting our 6% FIRST MORTGAGES Over Forty Years of Experience First Mortgage fr0m $250 Investments B. F. SAUL CO.: National 2100 May be purchased in amoun{q~‘ because the interest is not only at- i tractive but the fact that it is defi= i nitely fixed has its strong appeal.. . up. 925 15th St. N\W. THERE IS NO SUBSTITUTE FOR SAFETY