Evening Star Newspaper, March 5, 1933, Page 54

Ttk S Si‘f\l{. Was o auN, Do C, MARCH 5, 1952—PART SIX. FINANCIAL. 4 —1033— Stock and High. Low. Dividend Rate. Add 00. Stock and 16 8 Worthington Pump.. 33 Dividend Rate. 23 17 Worth Pump (A).... 1 Western Pacific pf. 18% 14 Worth Pump (B). 1 Western Unfon. ..... 2! 9 8% Wright Aeronautical z-:snrhu Mr"l_il(l). 13% 39 34% Wrigley (Wm) (3). estinghouse Elec. . Westinghse 1t (33%4) L tsaTowme @e).. 3% Weston Elec Instru. . 28% 18 Yellow Track p 12 Westvaco Chlorine. . 6% 4% Young Spring&W (1) Wheeling Steel pf. .. . i B asntaC, 13% T Youngstown Sh&Tn. ~—1033— Bales— [ Low. Close. Ches. .‘IOI 9930 10006 -.18| 40% 30 MEN'S WEAR SALES Retail Stores Are Stocking: [f . ‘.ES? 57:::__‘? Up for Next Season’s y 9% 98 (Continued From Page 3.) mm. Low. Close. C _— 10% — % -6 -1% Int Hydro Elec Inter Mer Marin Inter Paper 58 A “4 Int Tel & Teleg 4% Int Tel & Tel 4%s8 '53. Int Tel & Tel b8 '55 Italy 78 ‘51 Italy P U Credit 7862 Japan 5348 '6! 08 11 460s 52 2008 10 29 —1.14 9814 9822-131 2 .16 9704 97 Demands. 8pe tal Dispatch to The Star. WNEW YORK, March 4 —Liberal pur- chases of boys' and men's heavyweight | ribbed cotton underwear by chain stores | and mail orders were reported by the | trade today, following the former open- | ing of the Fall lines. | Although prices average 5 per cent below levels quoted a year ago for the | same quality of goods, wholesalers, job- ' bers and department stores hive de-| layed inspecting the new wares unm{ next week. Meanwhile the firming trends of raw | materials, such as cotton, and possibili- | ties of some sor. of farm legislat'on ‘being passed affecting commodities, | have caused both Northern and South- | ern undegwear mills to make present | prices subject to withdrawal March 31. | Comfort, fit, quality and styles are em| ized in the new lines, but the | bulk of purchases to date have been in the cheaper priced items, such as the 10-pound suit for $3.75, which is ular with the chain and maill order ers. The average quotations on the three grades, sub-standard, unbranded, ! and branded, are down about 25 cents from 1932. From many perts of the country comes the word that heavy-weight underwear sales this Winter were the best in several seasons. The Pacific Coast, which felt the effect of a cold December and January, reports present stocks low. Underwear makers generally are not carrying excessive inventories. In some quarters in the trade it is felt that the recent report of Munsingwear, Inc., is typical. It showed 1932 year- end inventories at $1306.109 against 42,005,862 at the 1931 year-end and $5,219.859, in 1928. Persistent pressure on prices through- out 1932 made the period virtually profitless for most mills. The trade now believes that the action of the “ribbed group” in curtailing produc- tion and withdrawing offerings from sale during certain periods made possi- ble any profits that may have been realized by the industry last year. Association Reorganized. ‘The leadership of this “ribbed group” was recently attested by the reorganization of the Asociated Knit Underwear Manufacturers of America. ‘The new organization was named the American Knitwear Manufacturers and headquarters were moved from the 25- yen-nld center at Utica, N. Y., to Bel- These changes were made to bring the industry close to its primary mar- kets, -which are in the South, and “underwear” was eliminated from the ‘association’s title beciuse many ribbed underwear producers catering to the ‘wholesale trade branched out into such strictly outerwear garments as sweaters and bathing suits. ‘The mills, however, show a disposi- tion to break away from hosiery asso- ciations. Thus the National Association of Hoslery and Underwear Manufac- facturers at its April meeting will vote to change its name, omitting all refer- once to “underwear.” In the meantime the dry goods district here reports nu- merous hosiery concerns taking on underwear as a side line, chiefly wom- en’s wear, however, and many hosiery specialty shops in various parts of the country adding a line of underwear. The production of all types of cut and sewn underwear for December, latest available statistics, showed a drop of 14 per cent from the previous month, but a gain of 30 per cent over the same 1931 month. New orders, however, were down 23 per cent from November and shipments declined, though unfilled orders gained. Twenty-five identical establishments reporting to the Depart- ment of Commerce showed 1932 produc- tlon of 2,060,081 dozen garments, against 2329.115 dozen in 1931. Shipments, however, dropgod from 1,364,428 dozen g-rmenu in 1931 to 1,203,610 dozen last The no-button suit for men, shorts for boys and a new type of garment for ‘women who insist on wearing trousered suits and other mannish wear, are among the features of present Fall lines. ‘What the underwear mills will earn this year is mere guesswork now, but it may be significant that most manu- facturers are reconditioning their chines in anticipation of increased d mand. Sales of all types of needles to the underwear industry are increasing. (Copyright, 1933.) Commodity Price Trends of Week BY H. N. McGILL, Editor McGill Commodity Service, Inc. AUBURNDALE, Mass., March 4—All commodities recorded a moderate down- ward trend during the past week. B8ix out of 14 groups were slightly lower, seven remained unchanged, and only one group successfully advanced. Al- though there were numerous price changes downward, the magnitude of the concession was extremely small and a5 a result the total decline was not radical, particularly in view of gen- eral conditions. The state of industry failed to improve, while financial con- ditions were badly demoralized as 21 States took definite action to meet the banking crisis. The moratorium and holiday movement spread from the Central States to the Pacific Coast. More emergency laws have been passed and drastic measures are contemplated. Ordinerily such a condition would force- fully affect commodity prices, but be- cause deflation is so complete, the ac- tual decline in the price level was only fractional—about the degree that would ordinarily be expected even though no critical financial crisis existed. Industrial Prices. TIndustrial prices held steady showing practically no change. The normal sea- sonal decline in industrial activity is subject to some extension because of the banking situation. In no instance has there been any sign Of 8 panic| and it is generally agreed that the financial system is sound and will with- out any difficulty bridge this crisis| without causing anv serious menace forcing_industrial activity to materially any unusual Agricultural prod\nu showed more | weakness than any ¢ group al- | though the decline was as sharp as | ‘was the case after the tun of the year. Agitation for farm relief has not les- | sened, but the clamoring for artificial ways and means has lost power. The decline in the agriculturzl price index | during the past week was due to the following items: Wheat, corn, oats,| wool, flaxseed and butter, Live stock prices represented another group that declined gune sharply dur- ing the past week reflecting a reaction in hog prices, following a sharp ad- vance, and lower quotations for cattle. Non-ferrous metals represent the only group to advance, due principally to two commodities—tin and zinc. The six commodity groups that were lower during the past week were industrial and ngr!cultural products, live stock, fuels, hides and leather and fine tex-; tiles. The index figure for building materials, chemicals, ferrous metals, z‘nt materials, coarse textiles, vege- ble ofls, paper and pulp remains un- changed. Important Price Changes. ‘Most important price changes in the | McGill weekly price indices 1926—100. | Latwk. Prevwk. ve L on-ferrous ‘metals’ 41 de ".'5;“::-».: 455 JAMES H. PERKINS, ‘Who has been elected chairman of the board of directors of the National City Bank following the prompt acceptance ot the resigration of Charles E. Mitchell He has been a prominent financier in New York for several years. ______—A. P. Photo. INVESTMENT BOND PRICES IN DECLINE Market Subjected to Heavy Selling Pressure During the Week. Special Dispatch to The Btar. NEW YORK, March 4—In a week of successive bank “holidays” and with- drawal restrictions in State after State, city after city, the investment market was under continuous pressure. Trading in bonds were heavy and. though heavy offerings were on hand at all times, the market did not lack for support. At the start of the week this support took the form of bids much be- low the market, and it was not until the conference between Willlam H Woodin, Secretary of the Treasury, and | President Roosevelt that the support became aggressive. Hoarding has shown a sharp upturn in recent weeks, but the markets are convinced that there is less individual hoarding than there was last year. This results not only from the widespread education as to the evils of hoarding that was carried on last year, but also from the fact that the individual has less to hoard. The increase in money in circulation can be directly traced to the demand from cities all over the country for cash with which to carry on trade. ‘This withdrawal of cash from the markets and from the New York banks reached such a point in midweek that time money, for which there has been nothing but a nominal demand for months, rose suddenly to 33, per cent, with none offered. Call money also jumped, though there were still sup- plies in the outside market Further evidence that the banks were feeling the pinch for cash wis to be found in heavy purchases of Treasury 3s, 3'%s and 3%s—the Treasury bonds made legal for currency collateral last year. It was estimated that of the $970,000,000 that could have been issued against these bonds, only $170,000.000 had been put out and that they con- stituted the means of raising $800,- 000,000 additional currency. Other United States Government bonds naturally were heavy most of the time, as banks sought to raise cash. Large offerings came in from out of town. The state of this market was shown by the transfer of some $10,000,- 000 of Treasury issue over the counter at a price more than a point below what the same bonds were selling at on the floor of the New York Stock Ex- change. It was possible to sell blocks of 10 or 20 bonds quite readily, but large blocks had to wait for bids. (Copyright, 1033.) Brokers’ Comment NEW YORK, March 4 —Toda; brokerage house comment on the stock market was mostly written before it was known that Gov. Lehman had declared & two-day bank holiday for New York State. Some of the expressions of opinion follow: Redmond & Co.—If the new admin- istration is able to adopt a policy which will revive public confidence. a sharp rise in securities prices during the next fortnight is likely. Clark, Childs & Keech.—The near term course of stocks from here will, of course, depend upon developments taken to restore confidence of the public in bank deposits. Frazier, Jelke & Co.—The atmosphere of apprehension seems to be in the process of being replaced by an attitude of confident anticipation. Shields & Co.—The possibility of something bullish from the inaugural address and measures to cure the bank- ing mess over the week end warrants trading purchases on sctbacks, but quick profits should be accepted. Hornblower & Weeks—It seems rea- sonable to expect that the news events the past several weeks which have ad- versely affected market sentiment are nearing a climax, in that a critical sit- uation invariably forces remedial action. i CHICAGO LIVE STOCK MARKET CHICAGO, March 4 (P (United States Department Agriculture).—Cat- tle, 200; compared week ago better grade yearlings and light steers also heifer mixed yearlings 25-40| higher: welght and welghty | 1200 to 1,400 pounds | rades; strong to 25 no reliable cutlei for long-fed st-ers scaling over 1,500 peu: beef cows about steady; cut- ters k to 15 lower; bLulls easy and vealers 50-1.00 lower; gencral market closed slow: exacme tep 7.30 on leng yearlings: bcst welghty steers. 6.15; bulk all ste:rs, 4.00a6.50; yearling heifers, 6.00. Sheep, 6,000; today's market nom- inal; for week endinz Friday 96 doubles from feeding stations, 12,300 direct; fat lambs mostly steady; regaining slight decline late; slaughter ewes | higher on strong, 10-15 higher in instances; bet-|Z ter grade lambs, 5.00a5.50; few, 5.60a 565 to outsiders; 98-pound we'ghts selling upwg]d to 5.25; week’s tcp fed Westerns, 5.70; wooled yearling wethers, 4.0024.60; native thrcwout lambs, 3.50a 4.50; fat ewes, 2.7022.75. Hogs, 8500, including 7,000 direct; strong to 10 higher than Friday; pack- ing sows steady; 180-240 pounds, 3.80a 4.00; top, 4.00; 250-290 pounds, 3.65a' 3.80: packing sowr, 3.0023.25; com- pared week ago 25-35 higher; shippers | took 700; heldovers, 1,000; light I.ght| good and choice, 140-160 pounds, 3.65a 3.90; light weight, 160-200 pounds, 3.80a4.00; medium weight, 200-250 pounds, 3.70a4.00; heavy weight, 250~ 350 pounds, 3.55a3.80; packing sows, medium and good, 275-550 pounds, 114 ]0«-‘1 5 5 104 107% 60 2.85a3.35; pigs, good and choice, 100~ 2’6 130 pvundl, 3.25a3.65. 99 31 103 14 AbItIDI P & P 58 °53.. Abram & Straus 5843 Alleghany Co 53 *44. Alleghany 6s '49. Alleg hany 53 ' Am Chain deb 6; « Am Reet Sugar cv 6s Am & For Pow 58 2030 Am G Chem 5%s 49 Am Internation 5%s ‘49. Am Sm & Ref 58 47. Am Sugar Ref 6337 . Am Tel & Teleg 4%s'39 Am Tel & Tel el tr 55°46.. Am Tel & Tel deb 5s 60.. Am Tel & Tel 5565 Am Tel & Tel 5%s " : Am WIW & E col tr 5s'34. Am Writ Pap 68’47 . Antiquia 78 A *45 Argentine 5s 45 Argentine 5%8'62. ... Argentine 6s A '57. Argentine 6s 59 Jun Armour & Co 4%5s'39. % Armour of Del B%u '43 Ateh T & S Fe Atlantic C L 18t 4 Atl Coast Line 4 Atlantic Ref 4 Australia 4 Australia & Australia Austrian 7s ‘4. Austrian 7s '57. B&O I8t 4s'48 B&O4%s'33. Balto & Ohlo 4%s 60 B&O 1st 5548 B&Orof 58 A'95. B&OS W Div 5s 50 Bangor & Aroos ¢a '51. Batavia Petroleum 4%8 "¢ Belgium €s°55. Belgium 6155 °49.... Belgium 7s '55.... Belgium 7s '56. Bell Tell (Pa) 53 B 4! Bell Tell of Pa 5s C 60 Berlin City Elec 6145’5 Rerlin City Elec 6138 '59. Berlin mun ext 6348 '60. . Beth Steel p m 55 '36 Beth Steel rf 58 '42 Bolivia 7s '69 Bolivia 8s 47 Bordeaux 6s ‘34 Boston & Maine 5367, Brazil 6%38 1926-57 3 Brazil Cent Ry 7552 Brazil 8541 Bremen Sta Bklyn Edison §s A Brooklyn Man Tr 6s A Brooklyn Un Gas 68 50. . Budapest 6s'62. . . Buenos Alres prov 6s king 58 °40. 0 Canada Natl 4155 68 Canada Natl 5369 July. . Canada Natl 5s ‘69 Oct. Canad North deb 6345 *46. Canad Northn deb 7s *40 Canadian Pacific deb 4s Canadian Pacific 4%3'60. Canadian Pacific 68 '54. .. Cent of Ga Ry con 58 '45 Cent 111 El & Gas 68 '51. Cent Pacific 15t rf 43°49 Central Pacific 5s ‘60 Certain-teed deb 534 48 Chesapeake Corp 58 °47. 2 Ches & Uhio gn 4%8 Ches & Ohlo 4128 A Ches & Ohlo 4% s B ‘9. Ches & Ohlo con Chi B&Q N1 div 4 3 Chi Bur & Q gen 4s'58. ChiR&Q4%aB'7T. ChiB & Qref6s Chi & Eastn 111 5s 51 Chi Great \West 43°59. Chi M St P & P5s'75 Chi M St P&Padjbs.... Chi & No Wn 435 2037... Chi R1& Pacref ¢ 4 ChiR14%s'52 Chi Rock 1s1 445 '60 Chi Union Station 41s'63 Chicago Un Sta 5863 Chi Un Station 6348 °63. . Chi & West Ind coh 48 '52. Chi & West InA 6%3°62.. Childs Co deb 5s43. 4 Chile 6360 Chile 6s'61. Chile 63 Jan Chile 6s Sept '8 Chile Copper deb 5s°4' Chile Mtg Bk 65 '61 - Chile Mtg Bank 614857 Chile Mtg Bank 6% s ‘66 Chinese Govt Ry s ‘61 4 Cin Un Term bs 2020 CCC&StLrf4%sE"TT. «CCC&StL6sD.. Cleveland Term 6s B '73 Cleveland Terminal 6%8. Cologne 6158 '50....... Colombia 6s 61 Jan. . Colombin §s '61. Oc Colo & Sou ref 4143 ‘35 Columb G & E 58 '62 May. Columbia G & E 55 '61. Comm Invest 513849, Con Coal (M) ref 55 50.. ConsGas N Y 4%s8'51.... Cons Gas N Y db 5%s 45, Copenhagen 58 522 Czochoslovakia 88 51, Del & Hud ref 4s°43. . De! & Hudson 538 ‘37 Denmark 418 '62. Denmark 5%s 55, Denmark 65 '42. . Den & Rio Grande cn 4s.. Den & R G West 58 ‘65 Den & RG West ret 55'78. Dodge cv deb 68 '40. Duquesne 1st 414867, Dutch Kast Indfes 6s ‘47 Dutch East Indies 65 '62.. East Cuba Sug 7%s'37... Erie con 4s " Erie gen ¢ Er.e ref s '67 Erieref 5'75. Fiut 78 *46 wa Finland 7s '50 Fisk Rubber &8 Flor East Coust 5- ETH Irench 7s *49. French 7%s 41 Gelsenkirchen 6s 24 ienernl Cable 5% 47 Gen Steel Cast 6%s 49 42 Gen Theater Eq 63 40. (jerman Bank 6s '38. Ger Cnt Ag Bk 68 July ‘60 Ger Cnt Ag Bk German Gen EI German Gen EI 7 German Gov 5% German Rep 7s '49 Good Hope S&IW T8 '45.. Goodrich 63'45.... Goodrich (BF) 6%s 47, Goodyear Rubber 5857, . Grand Trunk 6s'36 Grand Trunk 7s "40 Great North #%s D ‘76 Great Nor gen 5%s B Great Nor gen 78 ‘36 Greek 6s '68 Hudson Coal 5s ‘62 Hudson & Man ad} Humble Of] deb &s 37.. U1 Bell Tel 1st rf 58 A ‘56. f1linofs Cent rf ¢ [llinois Cent 4% 66. .. 4 Inland Steel 4% 8 Inter Rap Tran r Inter Rapid Tran 6 Inter Rap Tranev 7s'33.. Inter Cement 88°48. . . Inter Gt Nok &dj €s ‘52 b3 9931 102 108 14 103 20: 684 8 9 102% 102% 100% 100% % 100% 1017% 98% 99 98 984, 108% 104 80 82 2814 110% 103% 103% 63 63% 8613 67 28 30% 6l 64 64 6k 6 Tu T 3415 93 100% 100% 59 60 16% 17% 14 14 24 94 72 104% 61 99 1.30 37w + 951 + 984 95 3u 3% 69 69 401 42 21% 22 21 23 9313 9314 1% 17% 28 28y 39% 39% 7615 T6% 100% 100% 101% 102 46 46 28 3% 48 12% 54 54 £ 100 + % —4% —6% -2% -1% -4 2% I3 % 1% u % L] Japanese 6%;s '54. Kan City South 3s '50. Kan City South bs ‘50 Kendall 5%! ‘A8 wWw. Lack St1 1st 63 '50, Laclede 6345 D *60 Leh'gh Val cn 4s 21 Liggett & Myers 58 °51... # Loew’'s 65 1941. . Louisiana & Ar't 55 ' Loutsville G & F 55 A '52. Louls & Nash uni 48°40. .. Lyons 6s'34...... E McKesson & Rob 5%35'50. Man Ry N Y cn 4s°'90. . Market St Ry 78 A "40 Marseilles 63 '34 Midvale 5t & O b Milan 638 '52. Mil EI R&L 1st ref 55 '61. MM El R&L gn ref 53 °'71.. Mo Kan & Tex 1st 45 °90.. Mo Kan & Tex adj 6567, . Mo Kan & T 63 A '62 Mo Pacific gen 4s ‘75 4 Mo Pacific rf 5s A "65.. Mo Pagific 5s F 17 4 Mo Pasific 53 G 18 9 Mo Pacific 5s H'80....... Mo Pacific 58 1°81. Mo Pacific 5148 A 1949, Montara Power 55 '43 Nassau Flec cn gtd 4s°51. at Dairy Prod 5% s "48 ew England T 1st b= New South Wales 5s " New South Wales N Y Cent deb 4534 . Y Cntrf 4%s 2013 new. Y Cent rt 58 2013, N Y Cent deb 6s°35. NYChi&StL4%s'78. N Y Chi&StLrf 5%s A'74 . Y Edison 5s B ‘44. N Y Edisonrf 6 YN H & Hart NYNH&H 6 N Y Tel gen 43539 NY W &Bosgen 4%s "4 Niag Share Md 5%s '50. ord Railways 6%s 'S folk & W 1st con 48 "9 orf & W div 4s'd4. orth Am 5s "61. orth Am Ed 58 A 'B'I North Am Ed 58 C'69. orth Ger Lloyd 6s '47. Ohlo Trac & Lt 63 47 North St Pwr 15t 58 A "41. Nor St Pwr 18t 68 B 1941, Norway 54565 Ore WashRR & Orfent Dev 5% 8 Orlent 68°53. . Pacific Gas & Fl 5 '42 Pacific T & T 18t 53°37. Pacific Tel&Tel rf 58 '52. . Para-Fam-Lasky 68 '47 Paramount Pub 5% '50. . Paris Orleans & : 2 Penna cn 41 Penna gen 4 Penna RR 448 D 0. Penna 4% '63. Penna 55 °64. Penna gen Penna 6% Penn Pur&Ll w,s‘ll Peru 63 60 Peru 6s '61 Peru 78 ‘59 Philadelphia Phil & Read C& I 684 Philips Petrolm 5%s'39.. Poland 6s '40. Poland s "47. Poland 8s Port Genl Elec 4145 '60. Postal Tel & Cab 53 '53 Prussia 6 '52. Ve E& G 4s'T1. Pub Serv Gas 4148 '67 Pub Serv Gas 414870 Queensland §s'47. . '« Queensland 78 '41. - Re.dlnk 4145 A 9T, Rem-Rand 538 A 47 ww. Rhinelbe Unfon 78 '4§.... Rhine Ruhr 6s ‘53 Rhine tphalia 68 '52. Rhine West E1 P 65 53... Rhine West El 65 '55 ww. Richfield Ofl Calif 6s " Rio De Janeiro 6%s 53 Rio de Janeiro 85 '46. Rio Grande Do Sul 6s 512 Rio Grand West 4s col *49 RIArk&L 1st l%! 34. Rom 63%s'52. . Ru" ania 7s '59. SLIM&SR&G4e'33.. StL&SF4sA ‘50, . StL&SF 435378, . StL&SF5sB'50. 5 StPKCSL1st4%s 1., Sao Paulo State 7s '40 Sao Paulo State 8336 Sao Paulo £5'50 Saxon Pub Wks 6% Saxon 75 '45. . Seaboard A L 6s'45 Serbs Croats Slov Serbs Croats Slov Shell Unfon O11 55 '47... % Shell Unlon Oll 5349 ww. Sinclair O 6%s B'38.... Sinclair Oil 7s A '37 Sinclair Pipe Line 5 Skelly Of1 51839 Southern Bell T&T 5s'41. Sou'west Bell Tel 53 A '54 South Pacific col 4s '49. South Pacific ref 4s '55. South Pacific 4% 68 South Pacif 44%s WW.. South Pacific 43 s '81 South Pac Ore 43487’ Southern Ry gen 4s A '56. Southern Ry 5: Southern Ry gen 6 South Ry 6% s '56. Stand OfI N J 5s 46. 8tand Oil N Y 4%s'51 Sweden 515854, _Switzerland 5%s 46. Tenn El Pwr 63 A *47. Texas Corp cv 5 Texas Pacific 5s B'77 Texas Pacifie 58 C 79 Third Ave 1=t ref 4560 Third Ave adj inc 5860 Tob Prod N J 614s 2022 Toho Elec Pwr 75 '55. Tokio 5%5°61. .. Tokyo Elec Lt ¢ Union E1 L & P 68 '33. Union EIL & P 5%s ‘54 Unicn Pacific 1st 4s *47. Union Pacific 4s 6! Union Pac st rf 4 United Drug 6s'53 U S Rubber Unit St Wis 6% - Unit St Wks 6%s A ‘51 Urucuay 6s'60 Uruguay 6s '64. Utah Power&Light 5s *44 Utll Pow »s 49 ww., s Utilitles P& L 5%s "47... Vanadium cv §s'41. Vienna 6s '52. Va Ry & Power b Virginia Ry 1st Bl A'e2 Wabash 41,878 Wi % Wabash 5s D "80. Wabash 54875 Walwor TAS... Warner b ?lccv 6s°39. Warren Broscv 6s'41.... West Shore 1st 48 gt !lfl w W Westn Union Tel §%s Westphalia E1 P 68 '53... Wilson & Co 1st 68'41.... Yokohama 6s ° 01. Youngstwn S le( Youngstown IA'L' 58B°70. +1 +2 20% — 3 2015 +2 20% +1% 6% — 3 66 —10'3 52 79 1017 +1 3 White Sewing Mach. 1% White Sew Mch pf. 2 Wllcox Oil & Gax 15 Wilcox Rich A (2% % Willys-Overland. % Wilson & Co. . 4 Wiison & Co (A). 19 Wilson& Copf... 25% Woolworth (2.40)... | JOPAY o 8 PN Y T1 % Zenith Radio, 1 3 3% Zonite Product Dividend rates payments based on sUnit of trading 4% in stock. aPaid 2% in K. 19 — 25% 28% © Payatle i1 serip. e Payable in eash or stock 1Plus 31 In special preferred siock stock. mPaid last year—no regular rate. 24 given In the above table e latest quarterly or half-vearly decl: less than 100 shares. 1Partly extr this ¥ r—no regular rate. b Pay fPlus 8% in stock. h Plus k Plus 3% in nPlus 5% in stoc] CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, March 4 (#)—The fol- lowing is today’s summary of important Statistics Co., Inc, New York, for the Associated Press: Automobiles and Trucks. Willys-Overland Co.—Federal court has granted receivers of company per- mission to make a minimum of 4,400 | trucks for International Harvester Co.; i as result of action, working force will be | increased to around 3,000; court au-| thorized recelvers to lssue not over $600,000 receivers' certificates to finance truck manufacture. Automebile Parts and Tires. United States Rubber Co.—1932 defi- cit after inventory adjustment, $11,- 342,234 vs. deficit, $12,352,108. Building, Real Estate and Related Lines. Starrett (L. S.) Co. deficit. six months ended December 31, $111,608 vs. defictt 361,195, United States Gypsum Co.—Current tions of company 30 low 1932 level. Electrical Equipment and Radio. Hazletine Corporation 1932 deficit, $292,478 vs. deficit $176,261. Household Products. Maytag Co. 1932 first preferred share earnings, $1.70 vs. $17.96. Miscellaneous. Canadian Industries, Ltd.. 1932 earn- ings, $3.65 per share of combined A and B stocks vs. $4.61 Fatrbanks Co. 1932 deficit, $323,760 | vs. deficit $269,571. International Silver Co. 1932 deficit, $1,532,091 vs. deflcit $1,311,187. 0il. Richfield Oil Co. of California—Re- ceiver for company canceled substantial number of contracts for purchase of crude ofl and new agreements are being signed on a basis of a 25-cent reduction | in price. Railroads and Railroad Equipment. Alleghany Corporation—Missouri Pa- cific Railroad failed to pay a quarterly installment of $400.000 due March 1 =24 | to Terminal Shares, Inc., subsidiary. S + W - % i Z T Tin - Ity » -3 X * 1008 831 90 Missouri-Kansas-Texas Railroad—To E:m April 1, shops at three centers, .1v employment to 780 mechanics. New York Central Railroad asks 1.'C. C. to epprove a further loan of $7.000,000 from R. P. C. to be used to pay off like amount of Boston & Albany Railroad improvement bonds, due May 1, 1933, New York, Chicago & St. Lows Rail- road—I. C. C. authorized company to issue $3.041,000 of refunding 4!7 per cent bonds, series C, to reimburse treasury for capital expenditures. Retail Trade. Grant (W. T.) Co. February sales off ' 7.1 per cent; two months off 6 per cent. National Tea Co. sales, four weeks ended February 25, off 10 per cent; eight weeks off 12.2 per cent. Safeway Stores, Inc.—President states | .rexuhr quarterly dividend of 75 cents New premiums Other income Total income corporation news prepared by Standard | 427" | local banking difficulties merchants of per cent be- | dw.ll‘l be declared within the next few ys. Sears, Roebuck & Co. sales, four weeks ended February 26, off 19.4 per (John R.) Co. 1932 com- earnings 96 cents vs. $3.01. lllllf. Potrero Sugar Co. ear ended October 31, $133,549 'l. deflc It $424,367. Utilitles. Northern Indiana Public Service Co. 1932 net income $1,849,899 vs. $3,726,- Public Service Corporation of New Jersey 1932 common share earnings $3.46 vs. $3.82. Trade Trends By the Associated Press. Retail trade—While hampered by satisfactory credit standing are experi- encing no difficulty in obtaining ade- quate merchandise shipments from here and other shipping centers, according to credit men. Dyestuffs—Demand is holding up| fairly well as a result.of seasonal ex- pansion in some divisions of the tex- tile trade dealers report. Naval stores—Trade takings of rosin and turpentine are substantially be- Jow the normal of previous years, but are described as fair in the face of general conditions. Prices are firm. Canned foods—Some items recently | weak show a firmer undertone, accord- | ing to dealers. California peaches and other fruits have been benefited by | removal of distress goods. Hosiery—Some “manufacturers report | that f\lll fashioned hosiery made from | | rayon is drawing more inquiries from the trade than at any previous time. Steel—Trade interests feel some en- mfiemem over the initial steps taken to bolster the price structure. The ad- | vance in steel prices announced this | week is believed to reflect a willingness | 1o co-operate amoi the leading ducers. Scrap steel at Pmsburgh i= | reported slightly firmer in a range 0! $8 to $9 a ton. Linseed oll—Reports from dealers suggest irregular market conditions, though a fair number say that deliveries against contracts are running in a little heavier volume. ‘ Lead-Zinc—Producers have opened their books for April lead shipments, | but it is said that very little demand | for that position has materialized so far. Sales for February shipment are estimated at 13,200 tons, a decline of 2,000 from January. Good supplies of prime Western slab zinc are reported available at the established price of | 2.65 cents East St. Louis. | Gasoline—Despite continued unsettle- ment in markets tank car prices re- main unchanged at 4; cents a gallon for below 65 octane and 4% cents for ebove 65 octane at refineries. Rice—Active sales promotion by chain stores has brought some routine activity to markets. Retail stocks are | said to be light. Export business is in relatively small volume. pro- ||| FEDERAL RESERVE CREDIT ITEM GAINS Increase of $317,000,000 Is Re- ported for the Week End- ing March 1. By the Associated Press. The daily average volume of Federal | Reserve Bank credit outstanding during the week ending March 1 was reported by the Federal Reserve Banks as $2,- 585,000,000, an increase of $317,000,000 compared with the preceding week and | of $857,000,000 compared with the cor- responding week in 1932. On March 1 total Reserve Bank credit amounted to $2.935,000.000. an increase of $585,000,000 for the week. This rise is largely accounted for by an increase of $732,000,000 in money circulation and a decrease of $116,000.000 in monetary gold stock. offset in part by a decrease 0! $233,000,000 in the member bank re- serve balances and an increase of $37,- 000,000 in Treasury currency, adjusted. Holdings of discounted bills increased $217,000000 at the Federal Reserve Bank of New York, $71,000.000 at Phila- delphia, $34,000,000 at Cleveland and $385.000,000 at all Federal Reserve Banks. The system's holding of bills bought in the open market increased $204,000,000, while holdings of United States Treasury notes increased $5,= 000,000 and those of Treasury certifi- cates and bills declined $3.000,000. Receivers Appointed. WILMINGTON, Del., March 4 (&) — Harry C. Mahafly, jr. of Imington, and Ralph J. Ritchie of A-bury Park, N. J., yesterday were appointed receivers for United American Utilities Co. a& holding company for public utilities in the West. The appointment was made by Chan- cellor Josiah O. Wolcott on grounds of insolvency Henry Elsner of New York City. a stockholder. is plaintiff in the action. The defendant company in its answer admitted insolvency and agreed to the appointment of receivers. INVESTMENT SUGGESTIONS UPON REQUEST | Ferris, Woodroof & Lewis, Inc. Investment Securities J Washington ANNUITIES Profitable—Safe All Forme—All Ages WYNDHAM R. WILLS 22 Yea Insurance d A 954 Washingten Bld REFUND ANNUITIES GUARANTEE— Income for Life—Return of principal Backed by company with more annuitics larsest combined. Statement of the Condition of the National Life Insurance Co., Montpelier, Vermont (Founded in 1850 by Dr. Julius Y. Dewey, father of Admiral Dewey) On the 31st day of December, 1932, as required under Section 647 of the Code of Law for the District of Columbia. INCOME. Renewal premiums .. Total premium income . Total interest and rents .... DISBURSEMENTS. Net amount paid for losses and matured endowments Other payments to polic, holders All other disbursements Total disbursements Real estate . Mortgage loans on real estate . Collateral loans ... Policy loans and premium notes Bonds and_stocks Cash in office .... Deposits in banks Total interest and rents due and accrued. . Net amount of uncollected and delerred premmrm * All other assets .. Gross assets Deduct assets not admi Total admitted assets . Net reserve, required by law. Other policy reserves . Total policy claims . Other liabilities . Unassigned funds (surplus) ........... Total Amount of ordinary business outstanding December 31 . v\rmen dunng the year, Amount of ordinary business \\rlnen in the Dls!rlcl of Columbia dunng the year, outstanding December 31...... o FRED A. HOWLAND, President. OSMAN D. CLARK, Secretary. Subscribed and sworn to before me g"’ 23rd day of February, 1933. (Seal) : Karl S. Hoffman H. BOWMAN, Chartered Life Underwriter W. John Basehore Phillip W. Blake Robert E. Brown Vernon E. Brown, jr. Associates Clifford T. Day Carl S. Engel Arthur W. Greer William B. Harmon R. Lee Kennedy 917 15th Street, N.W. £3.582.403.31 17.046,954 67 $20,620,397.98 $125,34 %2.937.00 $579,600,992.00 5,818.300.00 Notary Public. General Agent .l Leo Kolb. jr. .’ P. McKinley h F. P. Newhall Ju willinm D: Vance fiA tional 0382