Evening Star Newspaper, March 2, 1933, Page 15

FIN GOVERNMENT BOND « PRICES ARE LOWER ‘Advancing Money Rates and Banking Liquidation Af- fect Market. BY CHARLES F. SPEARE. Bpecial Dispatch to The Star. WEW YORK, March 2—The pres- sure of liquidation aricing out of the spreading banking troubles brought lower prices for United States Govern- ment issues and for high grade corpora- tion bonds today. There were also some sharp declines in other parts of the list and, in contrast with this. evidence of rebuying of securities that were rather hastily sold earlier in the week. Advances in rates for money affected the Government list primarily. Practi- cally all of the Treasury notes running from next September to February, 1938, are now on a discount basis in con- trast to the large premiums that pre- vailed on all of the one to five year Government paper as recently as the middle of last month. The Treasury 4s of 1944 dropped today to 101 com- pared with about 107', in January and the 33%s, which had sold at 1052, were under par. The 3%s were actively traded in below 97 against 100'g, the year's high, while the 3s were turned over in large amounts under 95, a de- cline of nearly 4 points from their best this year. ; In the high-grade corporation group the weakest members were the issues of the American Telephone & Telegraph Co. The decline in the debenture 5s of 1965 has now amounted to nearly 9 points. Atchison general 4s dropped 115 points, but did not get as low as last week. Cincinnati Union Terminal new 5s have gone from a premium of about 31; points to a discount of 1!2 points. Detroit Edison 5s made a new low price, as did Pensylvania Railroad consolidated 4s. Canadian Pacific issues reacted 1% to 2 points following Wednesday's ad- vance. Great Northern 7s were up & point while New Haven 4s declined 3 W\;{A and Northern Pacific 4s lost a In the industrial and public utility group there were declines of over a point in American & Foreign Power 5s, of 2 points in Philadelphia Co. 55 and a rise of 2 points in Sinclair Oil 7s. German government issues were steadier, as well as German corporation bonds. So were the various Japanese loans. Argentine 6s lost a point, Bel- gian 7s were fractionally down and there was an adrupt decline of about 112 Eolnu in United Kingdom 51¢s, which ad been conspicuous for their strength during the general liquidating movement of the last two weeks. Grain Market By the Assoclated Press. CHICAGO, March 2.—Downturns in graif prices early today accompanied setbacks of securities. Resistance to selling pressure, however, was soon ap- parent. Opening %-% off wheat later held near the initial range. Corn also started at 24-3% decline and subse- quently altered little. Just before the issuance of today’s private estimates of farm reserve stocks of grain, wheat advanced to a little above yesterday's closing prices, but when the estimates were known the gains were wiped out. An average of the estimates indicated 168,000,000 bushels of wheat at present in the hands of domestic growers, about 39,- 000,000 bushels less than at this time last year. Bullish effects of this show- ing appeared to have been generally discounted in advance. In some quarters it was asserted crop conditions shown in today's unofficial summaries were extremely bullish, but that there was no increased buying power as a result of bank tie-ups and other adverse financial developments. One of the crop summaries pointed out that the condition of Winter wheat was only 58.5 per cent of normal, com- pared with 81.5 a year ago and 82.5 for the five preceding years. Another of the summaries said the crop situa- tion warranted belief that the domestic Winter wheat yield this season would be the smallest in many years. Corn and oats were governed largely by wheat action. R Washington Stock Exchange SALES. ‘Wash. Railway & Electric 45—$1,000 at 614 Capital Traction Co—10 at 9. Potomac Electric Cons. 55—5 at 106%. After Call. Potomac Electric 6s 1953—$1,000 at 105 Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer_ Tel. & Tel. 415 " ‘Am. Tel. & Tel. Ctl. Tr. bs Anacostis & Pot. R. R. Anacostia & Pot. Guar. C. & P. Tel. of Va. 5s.. . Capital Traction R. R. 55. City & Suburban 55 Georgetown Gas 1st e, . B 10842 Washington Gas 4) s Wash. Gas 55 Washington Gas ‘Wash. Gas 6s, series A Wash. Gas 65, series B Wask. Rw. & Elec, 45 MISCELLANEOUS. STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. (9) Capital Traction C ash. Gas Lt * Blec. Power 6% pfd. Pot. Elec. Power 512% pid. | Wash. Rwy. & Elec. com. (7) 280 350 'Wash. Rwy. & Elec. pid. (5). ~83% ~ 86% The following figures are not bids, but merely represent minimum prices fixed by the Washinkton Stock Exchange. NATIONAL BANK. apital (8) .-Amer. Liberty (7 Lincoln (1 Metropolitan ' (10) R 12) Washington TRUST COMPANY. mer. Sec. & Tr. Co. (12) [Natl. ‘Sav. & Tr. rince Georges Bk. & Tr. (3). Union Trust (5s). Wash. Loan & Tr. (id). SAVINGS BA nk of Bethesda (6%). . & Savings (10) t Washington (8 Potomac (10) . a1 Bev United States (30 shington Mechanics FIRE INSURANCE. merican (12). Eorcoran (10 Firemen's (8) ational Union TITLE INSURANt olumbia (6h). . al Estate (6h) . . Mech. Mtge. com. (8 Wash. Med. Bldg. Crp. (7). dwd. & Lothrop com. (1.20f) Wawd. & Lothrop pfd. (7) Ex dividend. % b closef h25c extra. 30¢ extra. 1% extra. % extis. ANCIAL. Lib3%s32-47... 10016 1008 101 26 Ab&St5Hs” Alleghany bs Alleghany 55 °49. Allegnany 5s'50 ‘Allis-Chalm 65 '37. Am Chain b 6s°33. Am F P 55 2030 AmI1GCh5%s'9. Am Intl5%s" Am Metal 5% '34.. Am Sm&Ref 58 '47. Am T&T 4%8°39. . Am T&T c tr 55'48. 4 Am T&T deb 53 '60.157 Am T&T deb 55 °65.164 | Am T&T 5%s'43.. 8 Am Wat Wks 58'34. 1: Argoent 63’61 May. Argentine 65’59 Ju 17 Argentine 65 '59 Oc Argentine 6s A '57. Argentine 6s B'58 Arm & Co 4%48'39 Arm Del 5%s43. Atchis 4s 1905-65. . Atchison gn 48'95. Atchison 435 '48... L 1st 45 '52. | AtIC L cl 48"52. ... | At Gulf&W15s5'59. | Atl Refab§s'37. .. | Australta 4%s5 56 | Australia 5855 | ‘Australia 55 '57 | Austrian 75 "43.. | Austrian 7857, | B&O1st4s’48 |B&O4%s'33 B&O 4%s'60 B & O 1st 53 '48. B &Oref 53’95 B&OTL6sC’9 B & O Swdv bs Ban & Aroos 45’6 Belgium 6s ' Belgium 63%8°49. Belgium 78 '65. | Belgium 7s'56. ... | Bell Tel Pa 5s B'48, Bell Tel Pa 5s C'60. Benet Loan 65 '46. . Berlin C El 6%s'51. Berlin C El 6%5'59. Beth Stl pm 5s’36.. Beth Stlrf53'42... Bolivia 7s '58 | Bolivia 78'69 Bolivia 8547 Bordeaux 6s " Brazil CR 785 Brazil 85’4 Bremen 78 "35. Bklyn Ed bs A " Bklyn Elev 6% Bklyn Man 6s Bklyn UnGas5s'45. Bklyn U Gas 58°67. Budapest 6s'6: Buenos AR 6 . BR & Pitts 4%s'57 ‘Bush Ter con 5s'55. Bush T Bldg 65’60, Canada 4s 60 Canada 43%s°36 Canada 53 °52...... Can Nat Ry 4%s8'51 Can Nat Ry 4%4s'54 Can Nat Ry 434556 Can Nat 4% 68 Can Nat Ry 4% Can Nat 55 '69 July Can Nat 55 '69 Oct Can Nat 55°70 Can Nor db 6 Can Nor deb 7 Can Pac db 4 Can Pac 415 "46. Can Pac 4%5'60... Can Pac 55 '44 ctfs. Can Pac 55 '54..... Cent Pac 1st 4549, Cent Pac 55 '60. “Cert-td db 5% s Ches Corp 6s* C&Ogen4%s'92. C&O4%sA'3 C&O4%sB'95 C&Ocon5s'39... CB&Qgn 4s'58... CB&Q4%s'TT... CB&Q1113%s'49.. CB&Q I 45°49.... 1 Chi Grt West 45'59 C M StP&P 58°75 CM&StPadj Chi&NW gn 3% Chi&NW 43;8C'37. Chi & NW 4%35°49. Chi&NW rf 5s 2037 Chi Rwys 55°'27.... Chi RI&P rf 4s '34. Chi RI&P gn 4s 88 Chi RI& P 4%58'62 Chi Un Sta 4%s'63 Chi Un St 5544 Chi Un Sta 55 B'63. Chi Un Sta 6345'63. C & W Ind cn 4s'53. Childs deb 55 '43. Chile 65°60. Chile 6561, Chile 65 '61 Jan Chile 6s'63.... Chile Cop db 53 47 Chl Mtg Bk 6%s 57 Chin GVtRy 65’51, Cin Un Trm 55 2020 Clev Term 43%s 17 Clev Ter 5%8A"12. Colomb 65’61 Jan.. Colomb 65’61 Oct. . Col G&E 58 '52 May Col Gas & E 55 '61. Com Inveg 533 49 Con G NY 4%3'5 ConGasNY Cuba RR 1st Cuba Nor 5% Czecho 8s°'51. Del&Hud ref 4s "43. Denmark 43s'62.. 2! Denmark § Denmark 6s 42 Denver Gas s °5. | D& RGrcn 4s'36 D&RG W 58°55 D&RG W 687 Det Ed 4%s D 6. Det Edison rf 55’49 Det Edison fs '63.. Det Edison Dodge Bros Donner Stl 7s *4 Duquesne 4% A '67 DEI5%s'63 Mar, DEI5%s'53 Nov. Dutch East [ 65'47, Dutch East 16s°62 Erfe gen 4s Erie ref 5s'67 Fiatdeb 7 Finland 6s " French Gov 7s'49. French Gv 7%s 41 Gelsenk’hen 68 °S4. 3 5., ..224 German Rep 78°49. 62 Goodflopes&l"ll'll g Grand Trunk Gt Brit&lr 6% | Grt Nor 5145 B '52. Grt Nor gn 78 '36... Halt! 6s°'52 Hudson Coal Hud & M ad) 111 Bell Tell 63 '56.. 19 10: Il Centcltr4s’ss. 2 4 BOND Received by Private Wire Direct to The Star Office. UNITED STATES. (Sales Il’.!‘lfl' $1.000.) Low. 99 30 32-47 10028 10010 100 10 . 3-38 1015 100%} 100 25 6 99 10 1008 10416 1044 1044 ON NEW YO STOCK EXCHAN Tl Cent 4% I11 Cent 6%s 111 CCStL&N Ss A 11 Steel db 438" Int Rap Trrf 6s 66 9415 32, 2:55. 99 31 Int Pap 6s '55. Int Ry C A 58°72 Int Tel&T 4348°39. Int T&T4%s°62.. Int T& T 6s'66..,. 5 Italy 7s'51 Italy Pub 7 Japanese 5% . Japanese $% s '54.. Kan C F S&M 43’36 Kan C P&L 4 1 5 Kan City Sou Kan City Ter 4s'60. Kan G&E 4%1'80. Karstadt 6s Laclede Gas 55 '34. Laclede 5%8 C'53. Leéh Val cn 45 2003, Leh Val cn 55 2003. Lig & Myers 68 '51. Loew's s 41 Lorillard 6s ‘51 Lorillard 78 *44.... La & Ark 55 '69 Lou G & El 53 L &N uni 4s"40. L&N5sB2003. L &N rf 5%s 20 Lyons 6s'34. McKes & R 5%5'50. Manhat Ry cn 4890 Marsellle 63'34.... 3 Midvale Stl 55 '36.. Milan 6%s '52. 1 Mil E Ry&L 5s '61. MSP&SSM cn 45’38 MSP&SSM 5s gt'38 MSP&SSM 5%s " MK & T 1st 43’90, Mo Pac gn 45°75... Mo Pacrf 5s A "65 Mo Pac 5s F'77. Mo Pac 68 G '7: Mo Pac5s H'S8 Mo Pac 58 1'81 MoPac5%sA Mont Pow 5’43 Montevideo 63 Mor&Co 1st 4358 Nassau Elec 4s ‘51, Nat Dairy 6%’ Nat Steel 5s '5 . NEng T 1st §s'52. N J Power 46s°60.. NOT&MG6sB'54. Nw S Wales 55 '57. 99 20 10012 - NI £ 00 b SNt 80 e <R= 1 &StL 4%s 18, C&StL5%8A'T4. Edison 5s B'44 Edison 55 C'51. Edrf6%s 41, N Y EL H&P 4s'49 v e NY W&B 4%s"46.. Nord 6%s'50. Nor & Wn cn 4s°'96. 1 er Lloyd 6s 47 Nor Pac gn 35 2047. Nor Pac 45'97..... Nor Pac 5s D 2047.. Nor Pacr16s 2047, Nor St Pw 55 A "41. or St Pw 63 B *41. orway 58°63. . , | Norway 6s "43. Norway 6s'44..... Norway 68 '52. Ohto Pub 7% Ore Sh L 5s g Oreg-Wash 4 Orient Dev 6s ‘53 Pac G&E 5s'42 Pac T&T 1st b8’ { Pac T&T rf 5852, Pan Am Pet 6s°4u Param-Pub 5% Paris Or 5%s'68 Penn sta 45’48 Penn 4%s D '81. Penn 4%s D 70. Penn 4%8°63...... Penn 5s ‘64 Peop Gas ref Pere Marq 4 Pere M 1st 55 °'56 Peru 63 "60. Phila Co 5867 Phila Blec 4s°'71... Phila & Read 6549 Philippine R 4s'37. Phiilip Pet 6% 8°39 Pillsb F M 6s°43. .. PCC&StL 5sB'75.. P& WV 4%sC'60.. Poland 6s°40. Poland 7s '47 Poland 8s *50 Port Gn El 4 PorRAm T 6s Pos Tel & C 55 °53.. 1 Press 8t] Car §s°33 Prussia 68’52 3 Pure Ofl 5% s °40... Rem R 6% sA’¢Tww Rhine Ruhr 63°53.. Rhine West 65 °52. Rhine West 6s'53. Rhine West 68 '65. Rhine West 7s 5l Rich Oil Cal 65 "44. Rio de Jan 53 R Gr Do Sul RIAr&L4 Rome €%s Royal Duteh . StL IM R&G 48'33.. 41 St L&SF 43 A ‘50 16 StL&SF4%s'78. 16 StL SF 4}%s'78et st 39 StLSW l1st4s'89.. 2 St L SW 1st 58°52.. St P Un Dep bs '72.; Sao Pau 78’40, Saxon 7s'45... Seab A L 4 Serbs-Cr-S17s’62.. Serbs-Cr-S1 8s '62.. Shell U 011 58 ‘47 Shell U O 58 49w’ Shinyetsu 6%s ‘62 Silesia Prov 7s Sinc Ol 6%s B3 Sinc O11 7s A '37 Sine P L 53’43 84% 46 e poBaNo - Brpone 101% 61% 98 104% 8814 102 42% oBaBa Soissous 68 Solvay Am bs Sou Pac col 48 Sou Pac rf Sou Pac 4% - - ERawonRaaemaaSw~ [ < 14 10 30 29 104% StOIINY 4%s'51. Studebaker 6s'42.. Sweden 6%s'54... Swiss5%s'46..... Tatwan EP5%871 11 35% Tenn E1 P 6s A'47. 12 83% er As StL5s'44.. 5 99 Tex Corpcv 5844, 11 Tex&P 1st 652000, 1 Tex & Pac5sB'T7. 1 Tex & P58 C'T 2 Tex & Pac 55 D '80. | Third Av rf 43°60. . Third Av 60. 18 24 6 33% o PNJ 6%8 2023 43 2% 101% 101% Toho El Pw 78 6 44 46 Toklo 5s°63... 30 4% T1% 84% 45 101% 60 98 104% 884 100% 41% 61 40 104% 34% 80 99 FISH SALES GAIN [CURB SHARES SAG | IN LENTEN SEASON Consumption Has Recently Improved Due to Better Handling and Prices. Special Dispatch to The Star. NEW /YORK. March 2—With the start of Lent the fishing industry— which directly and indirectly employs 500,000 people and has an investment of more than $1,000,000,000 and an annual turnover of more than $300,000,000— enters its greatest consuming season, & period which will last until April 15. Locally the Lenten season speeds uj sales in the Fulton Fish Market, w! handles more than 400,000,000 pounds of fish and shellfish a year. mar- lfi. which is outranked in the world only by Billingsgate, in London, yearly handles more than 50 separate varieties of seafood. This contrasts with some 15 varieties usually handled at Boston, which, in poundage, is the second largest fish market in this country. Fish Eating Increases. Nationally the use of fish is said to be on the increase because of greater production, better handling and lower prices. Average quotations in this country today are 15 per cent below those a year ago. The non-fattening qualities of fish, the speed with which it is brought to the table or packing plant and marketing efforts of the in- dustry are making fish eaters out of the inlanders, though there are still some towns within 300 miles of this city that sell fish or shellfish only on holidays. ‘The volume of edible fish, according to Harold F. Turner, editor of Fishing, is about half the annual production of beef and about three times the yearly output of veal. About one person out of every 200 in the United States is direct- mmcerned with the prosperity of the ing industry. Part of the increased popularity of fish throughout the year, especially along the Atlantic Coast, and adjoining terirtory, is due to the fact that the New England fishing fleet has trans- ferred its Winter activities from those gmmdl to the waters off the Virginia ‘ape As a result, although the average housewife still believes she is getting frozen rather than fresh fish, numer- ous varieties are available in this mar- ket the year round—a development of the last three years. Truck Shipments. About 80 per cent of the fish handled in the Fulton Market, according to W. A. Winant, one of the veteran whole- salers there, is consumed in the Metro- politan area, including Newark and Westchester. The rest is sent to Penn- sylvania, Connecticut, Rhode Island, New Jersey, and upstate New York. Every week Florida trucks, whose lin- ings are dry-iced, bring seasonal fish from the Sunshine State’s coastal wa- ters. Daily trucks arrive here with Vir- ginia fish, the drivers relaying at Phil- adelphia. Truck shipments are rushed to such an extent that they are rapidly replacing arrivals by freight and ex- press. The Fulton Market Fish Asso- clation, some of the member firms of which are more than 100 years old, na- turally encourages vessels to dock here directly. ‘This trade has shown ne tendency to decrease. Fulton Market itself largely specializes in salt water and shell fish, while the nearby Peck Slip Market handles fresh water fish. The two markets, however, for sta- fifilel;-;!‘“msoh r]u are lcnnsidered together. rly emplo; than workers dtrectly. ) o o the 200-odd varieties of edible fish on this continent, only 8—cod, salmon of all varieties, pilchard, had- dock. herring, flounders and = soles, halibut and mackerel (Eastern va- vriety)—bulk large in total poundage. Along the Atlantic Coast th;onck and mackerel rank first and second in the commercial production of edible fishes. The former belongs to the cod family and originated in Scotland. The t of the head of a haddock and the bngg down to the lateral line are dark purplish gray, paling below the latter to a beautitul silvery gray with pink- ish reflections. Its black blotch on the shoulder, according to the French Canadian fishermen, is the “thumb- mark of St. Peter,” so the Bretons call them St. Peter’s fish. Haddock here are frequently sold whole or filleted, though for "inland trade they are frozen fresh as steaks or malted or cooked with live steam, during which process they are boned and flaked. The Ilatter product is finnan haddie,” originally called “Findon haddock” from the place where it was first prepared. The upper surface of the mackerel ranges from dark steelly to greenish blue or black near the head. Its body is barred with umber transverse bands, while its lower sides are white, with silvery, coppery or brassy reflections that possess unusual irridescence. Con siderable mackerel here is sold fresh, though it also is fileted salted and smoked. (Copyright, 1933.) —_— SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co.) Bid. Allis-Chalmers Co. 5s 1937.. 68 American Chain Co. 6s 1033, 47 Amer_ Tel. & Tel. 5%s 1943. 1043 Am. Wat_ Wks. & EL 5s 1034 “71%5 Belding Hemingway 6s 1936 Bethlehem Steel Co. 5s 1936 Canadian Nor, Ry. 4l3s 1935 ol Northwest, R. R. '8 1033 lorado & Bo. Ry. 4%as 19: Commercial Credit' 5%s Delaware & Hudson 55 Den. & Rio Grande 4%s 1036 Edison Elec. Nlium. 4s 1939, Gen. Petroléum Corp,. 5s 1040 1 Gen. Public Service 5%s 1939 Grand Trunk Canada 6s 1936 Great Northern Ry. 7s 1936. Keystone Telephone 5s 1935 La ight 55 1934 . Northwest. Telep. 4%s 1034. Shna, R o 03 1038, - Portland Gen. Elec. 5s 1035 Republic Iron & Steel ‘Tokio 5%s . ‘Tokio El Lt 6s '53. . Union El L&P 58’57 UE&P 1st 6% sA’ Un Pac 1st 45°47.. 54 3! Un P 1st rf 6 l:fll. Uruguay 6s “ee Utah P& L 5s'44.. Util Pw 5859 ww. Util Pow 6%8°47.. Vanadium St 5s°41. Vienna 6s°52. Va El&Pwr 5% VaRy1stbs A’ Wabash 4%4s°T8 Walworth 6s A “45. Warren Bros 6s°41. Warsaw 7s°58.... ‘West Sh 1st 48 236 West E1db 5s "44.. West Md 1st 43 '52. West MA5%s°77.. West Pac 58 A "46.. West Union 51 West Union West Un 6%s36. Westphalia 6s ‘53 Wh & L Ecn 454! ‘Wis Cent Tm 4s'36. ‘Yokohama Ygatn S&T 5s A’ Ygstn S&T s B'70 INACEIVE MARKET Leaders Show Only Frac- tional . Losses Despite - Moderate Pressure. BY JOHN A. CRONE. Special Dispatch t4 The Star. NEW YORK, March 2—The Curb Exchange continued moderately active today. Prices moved within a narrow range, though the main trend was downward. Among the standard issues Electric Bond & Share was off only fra A as were Cities Service, Standard Oil of Indiana, Standard Oil of Kentucky, American Gas & Electric and Niagara- Hudson Power. The market during the first two hours was remarkably steady. There were at all times feirly narrow margins between bids and cfferings. This may have been due to the small amount of nec- essitous selling or to the virtual al sence of short selling. About 75 per cent of all the curb volume is “cash” business. Therefore slight market de- clines that would impair margin ac- counts play a very minor role in trans- actions on this ex 3 This steadiness was due to lack of pressure rather than encouraging cor- porate news developments. H. C. Bohack Co. reported a decline of 14.6 | per cent in dollar sales and a drop | of 2}, per cent in tonnage during| February. Duke Power reduced its| common_quarterly . dividend from $1.25 | to $1. This followed a drop in annual earnings from $4.89 a share to $3.62 a | share last year. On the other hand American Cigar, typfying recent trends | in the cigar industry, earned $10.56 a share on the common in 1932 against a net loss of $1,110,405 in 1931, American Hardware showed a net loss of $1,348,480 in 1932 against a net loss of $1,063,124 in the year before. Nor- wich Pharmacal reported a 1932 net of $6.31 a share against $7.36 a share in 1931, Most of these earning statements were without immedirg> effect on the individual issues, but the list held firm despite such news. Virginia Bank Borrowings. By the Associated Press. Seven Virginia banks were listed to- day as having been authorized to bor- row $190.401 from the Reconstruction Finance Corporation during January. The banks and the amounts author- ized follow: Peoples Savings Bank of Bloxom, $1.000; Townsend Banking Co, Cape Charles, $16,500; Eastville Bank, Eastville, 12,500; Farmers’ Bank of Hague, $25.000; Citizens’ Ma- rine Jefferson Bank, Newport News, $32.401; Merchants & Farmers’ Bank, Portsmouth, $60,000; Farmers & Mer- chants’ National Bank, Winchester, $43,000, The corporation reported no part of the Townsend banking compeny’s loan had been disbursed to January 31. loan of $3,800 was authorized to the City Savings & Loan Corporation, Petersburg. The Citizens’» Mutual Building & Loan Association of Norfolk withdrew or canceled $186 of a loan in January. S A Gain in Bank Reopenings. CHI(;A%O. Mlm (I’J.Tnmnd Mc; Nally 0. Te] an increase of new and reopened banks, ascribed to banking laws enacted by several States in the 10 days. February shows 14 banks reopened and 2 new banks. Twenty-six banks suspended during the current “week, compared with 36 the previous week and 34 the same period in 1932. BONDS ON THE CURB MARKET. 5 oo R xw arolina P&L 5s '56. ‘ent Ariz L&P 53 /60 3 Cent Iil P8 4las F'67 Cent Pb Ser 5is '49. Cent Sta Elec Bs '48. nt St El Glas ‘54 smazon Q00| SE 10! : 3% 62. . )U"%: 100 04 9 184 1t 1 100% 100% 100% 893 8912 8Alg 80 i 343 34 b8% 7 57 215 3 o, (Yt; 8lz 25 74 Pw 65 '41: 6s B 4l 1Gatineau Pos B 141 A 4 &: 3 Gen Mot Al 101 Wk 58 .'l! Pw 05 Jers C P&L 4%as C "61 a8 '50 3 Nat. - .. g7 g O IR ERRS To8 A227ITgyy R -3>u 2 > 2220 S R R R R O fsasaadoayians Bak ’2.-"“ 2 ez endoz Vi ihm e 7 Rusle: o7 Site i) a s ctfs * & Rus 015 ett Ne 1 3Unit El Ser 56 Ww—With warrants. xw—Withou$ warrants. Wi—When issued, 72 78 Wire N. Y. C RB MARKET Stock snd Bale— Dividend Rate. Add 00. High." Jow. Close. Acme Wire vtc..... { z% eeereve 1 3% Aluminum of Amer300s 40 Alumn Ltd cum pf. 80s Am Capital pr pt... Am City P&L B 150 Am Cyanamid B... Am Dept Stores. .. Am & For Pw war., Am Founders...... Am Gas & El (11). Am Investors Inc. . Am Invest Inc war. Am Manufacturing Am Maracaibo..... Am Salamandra. .. Am Superpower. .. Arkansas Nat Gas. Arkansas NtGs A As El Ind Ltd k10c Asso Gas & Elec. Asso Gas&Elec (. Ass0 Gas & E war Asso Rayon. Atlas Utilitie: Atlas Util pf A (3). Axton Fish A 3.20., Benef Ind Loan 1% Blue Ridge.... Blue Ridge ¢ pf a: Brasil Trac & Lt. Brillo Mfg (60¢) Buft N&E pf (1.6 BurmaLtd rets pic. Canadian Marconi. 258 12 1 43 Chesebrough t6%. 50s Cities Service..... 102 Citles Service pt. 5 Clavde Neon Inc 1 Claude Neon pr(1). 1 Clev Elec Illu1.60. 1 Col G & E cv pf(5).100s Comwlth & Sou wr. Cord Corp (10c). .. Cosden & Co c.0.d.. Creole Petroleum. , Crocker Wheeler. . Crown Cork Intl A, Deere & Co........ De Forest Radio East States Pw B. El Bd & Share b6% . E! Bd & Share pf 6. E1 Pwr Assoc(40c). El Pwr As A (40¢). Elec Shareholding. Emp Dist Elec pf.. 50s EmpireG&F 8 508 Eureka Pipe L (4).100s EuropEILtd A30c 2 Federated Corp.... 5 Fiatrcts (p50c)... 4 Florida P & L pf(7) 50s Ford Motor Can A.. 10 Ford Motor Ltd. ... General Aviation. . GloBe Underw k3se Goldman Sachs.... Gold Seal El new. . Great A&PT pf (7) Gulf Oil of Pa Hudson Bay Min Humble Oil (2). Hygrade Food M P&LDEL (6).... Imp Ofl Ltd cou 50¢ InsCoN Am (2)... Int Petrol (1). Int Products. ... .. Lake Shore M (2). Lefcourt Realty... Lehigh Coal&N 40e Libby McNeill & L. Lone Star G béic. . Memphis Nat Gas. . Mercantile Strs (1) Mexico-Ohio Oil. .. Mont Ward (A) Mount & Gulf.. 2% 40% 9 Brhowws mea - .- e B @ - B G ) Nat Fuel Gas (1).. Nat Investors..... Nat Investors pf.. 175s Nat Rubber Mch.,; 1 Nat Transit (80c).. 2 New Bradford Oil. 3 New Eng Pw pf (6) 40s Newmont Mining.., 8 NY&HonRos (1), 1 N Y Ship (10¢)..... Market Averages By the Associated Press. Yesterday ... Previous day. 432 Week ago . Month ago Year ag Bt ap ks plugsokeagasad e | Ferris, Woodroof & Lewis, Inc. | | Investment Securities i" Washington Bullding _ NAt. 5025-8 —— = = RECENT SALES —prove to us an increasing demand for high-grade slightly used trans- portation rather than new cars. A letter or telephone call will our representative to your home or office. PACKARD 1700 Kalorama Rd. Adams 7437 Guaranteeing Satisfaction For Office Equipment That STOCKE’ EISKE ITA‘H&NII. LK ASHINGTON-D-C The Trade Mark 6 % Interest JAMES F. SHEA 643 Indiana Ave. N.W. % | Pan Am Al & | Puset 84 PALSS pf 508 % | Stand O1l Ky 1.20. 874 ‘; ! Texon Oil & Ld (1), +| Stockholm, | Montreal, \ FINANCIAL. Direct to The Star Office. 1 Stock and Sale— Dividend Rate. Add 00. High. Low. N Y Tel pf (63%)...1008 113% 112 Niag Hudson P (1) 8 9% Niag Hud (A) war. Niag Hud Pw B wr. Niag Hud Pw C wr. Niplssing.... North Sta P A (6) North Europ Oil. .. Novadel Agne (5).. Ohio Copper. PacG&E 1stpf114 19 Pacific Ltg pf (6). . 258 ays.. - 8 Parke Davis (1)... 15 Parker Rust P 2% . 600s Penroad Corp...... Penn Gas & Elec A. Penn Wat & P (3).. Phila Co (1.40). Phoenix Secur pf. Ploneer Gold 24c.. 4 Pitney Bow P bi%. Prudential Inv..... Close. 112 PubUtil Hidxw.. 1 40s 258 Puget Sd P&L$6 pt Railway & Lt Sec. . RepublicGas...... 2 Reynolds Investing 3 Ryan Consolidated. 3 Safety Car H& Lt. 758 5t Regls Paper.... 58 St Regis Paper pf. . 40s Salt Creek Prod (1) 1 Selected Industries 1 Shenandoah pf.... 2 Silica Gelet.....,. 1 Stager Mfg Co (8). 1408 Smith (A0)......200s SouCalEd pf B1% SouCalEdpfC1% Sowst Penn P&L 4. Stahl & Meyer Inc. Stand Oil Ind (1). . 10% | T | 13% | Stutz Motor Car Swift & Co. .. FIft Internatl(2)., Sylvanite G M(4c). # Tampa Elec 2.24. ., Technicolor. ...... % 2 Tech Hughes (60c) X 3% | ‘0b & Allied Stks. , 2" Trans Afr Trans. .. 3 Trans Lux DL P §. Tri-Cont Corp wr.., Un Gas of Canada.. Utd Corp war. . Unit Gas pf (1) ! Unit Lt&Pwr (A | 5% | 1 Util P& Lt. Util Equitie Walker (H) pt ())‘. West Cart pf (6 5 4 ‘| Wol'thLtd p42 2 Wright Earg t20c. Divid ividend. 1Part] a Pasable in"cash® or stoce " & 3 tock. . e Adjustment dividen ¥ nd. oc] Plus 67 in stock. i stock. lus 3% 'ald last y 1 13 | 16 ; 7 L n Plus to us 8o ‘—no0 regular rate. Special Dispatch to The Star, NEW YORK, March 2—Opening cotton prices here today declined 1 to 4 points, as it was announced that the New Orleans Cotton Exchange would be closed for the next three days, which have been declared legal holi- days in Louisiana. This development | offset the steady tone in the Liverpool | market. Initial prices were: March 5.95, off | 3; May 605, off 1; July 6.6, off 3; | October 6.34, off 4; December 6.48, off 2; January 6.55, off 3. Bl | ‘FOREIGN EXCHANGE. | (Quotations furnished by W. B. Hibbs & Co.) inal gold Selling checks | e. today. | | | | | w. “zloty. . Coenhagen, ~ crown. Oslo. crown.. ... . crown. | discount, 1 SAFE DEPOSIT We Serve in all Fiduciary Capacities The Oldest Savings First Mortgage Investments tive apprai Sound Security ‘Liberal Return to Any - Investor May be BANK MAKES PLEA FOR CONFIDENCE Urges an Early Solution of Political and Economic Difficulties. By the Assoclated Press. NEW YORK, March 2—Business | | conditions tn February, says the month=- | ly review of the National City Bank of New York, reflected the “emergence of widespread and critical banking diffi- culties in many sections of the country, | culminating in the limitation of bank payments throughout Michigan and Maryland and in & number of other important areas.” “The best program for overcoming the banking difficulties,” the review continues, “is a program to overcome the political and economic difficulties which are prolonging the depression, subjecting the people to a distress under which they give way to a dis- orderly alarm and delaying recovery in the value of the banking assets.” Under the circumstances, it is held, it was not surprising that trade lagged during the past month and ‘the se- curity markets gave a somewhat un- satisfactory performance. But in bank- ing, as well as the general business fleld, the review believes, more confidence, rather than money, is needed at the present time. “There is no lack of money in the country,” the survey points out, “or of banking reserves to support credit ex- pansion, but neither money nor credit is circulating normally and nothing will make it circulate except confidence that will revive investment and the restoration of balanced economic rela- tionships that will revive trade. “As long as it is not known how much more money the Federal Govern- ment will need, or when and on what terms the inevitable funding of the short-term Government debt into long- term obligations will begin, or to what extremes Federal appropriations will be carried, and as long as proposals to alter the monetary standard are agi- tated the revival of confidence that will set _credit to circulating again is likely to be deferred.” COTTON TRADING SUSPENDED. NEW ORLEANS, March 2 (. — Owing to the three-day bank holiday declared in Louisiana by Gov. O. K. Allen, the board of directors of the New Orleans Cotton Exchange today ordered suspension of trading in cotton futures and spot cotton for a similar period. Automobile —is an acknowledged con- venience and pleasure, but is an added responsibility for you. It may be stolen —it may burn—it may be badly damaged in a eol- lision—it may damage the property of others—and, worst of all, it may seri- ously injure someone. The freedom of motoring may be far greater if properly protected by automobile insurance. Our combina- tion Automobile Policy is comprehensive in its cov- erage and provides com- plete protection. INSURANCE DEPARTMENT H. L. Rust Company 1001 Fifteenth Street You Serve Your Own Interests —first, by BANKING instead of hoarding your cash. But such action also does public good— makes money available for gen- eral banking needs—helps to revive business. ® Your deposits will be wel- come at this strong, old bank, Interest Paid on Checking and Savings Accounts BOXES AT NOMINAL RENTALS NATIONAL SAVINGS and TRUST COMPANY Institution in the District of Columbis Corner 15th & New York Ave. M. O R T & A G . E YOU CAN RECKON INCOME From a fixed basis of interest on money invested in our 6% FIRST MORTGAGES The interest is generous enough to be attractive and the conserva- sement of the valuation of the improved Washington real estate upon which your loan will be made will be appreciated. purchased in amounts from $250 up. B. F. SAUL CO. National 2100 EROPERTY 925 15th St. N.\W. MANAGEMENT