Evening Star Newspaper, March 17, 1933, Page 12

FIN SALES GAIN NOTED } INFIFTH DISTRICT Further Pick-up Is Expected as Spring Buying Appears. BY. EDWARD C. STONE. Bales in the fifth Federal Reserve district, which includes Washington, are reported as much improved during the past few days. It is expected that the Federal Reserve Bank of Richmond will report further gains as Spring ad- vances. Industrial activities in this territory slowed up but little even dur- ing the bank holidey. The February department store sales figures, which were announced by the Richmond Bank a few days ago, showed a drop of 24 per cent in dollar amount in comparison with February, 1932. This was a better showing than was reported in most of the other eleven Federal Reserve districts, Sales in Washington stores were down only 21 per cent For the first two months of the pres- ent year, department stores’ sales in the Richmond Reserve district were 21 per cent lower than in the same two months in 1932, the Dallas, Tex., area being the only section to better that figure, reporting 19 per cent fewer sales than a year ago. For the first two Jmonths of 1933 the stores in Washing- Yon reported a decrease of 19 per cent compared with the first two months of 1932. Only one other city in the fifth dis- trict made a better showing, Hunt ton, W. Va., where the slump was only 162 per cent. Richmond came next with 03 of 1 per cent of equalling Washington's figures. Figures Picture Stock Gains. % Local observers of the New York tock Exchange movements are still falking about the amazing advances on Zthe first day of resumed operations. The figures tell a most unusual story. The Jargest advance in dollars was in_ 10 oil stocks, which appreciated $211.475.- 000. The rails advanced $166.980.000, the motors, $165,224,000, and the utili- 160.633,000. uegns. percentage basis the mines led ithe Tecovery, Tising 37 per cent. The Jmoters advanced 28.1 per cent, the Puilding industry shares, 27.6 per cent; the steels, 22.9 per cent: the electrical Fquipments, 21.9 per cent; the foods, 17.7 per cent; the railroad equipments, 17.4 per cent: the rails, 16.8 per cent; $he chemicals, 15.2 per cent; the indus- grials, 15.8 per cent: the oils, 14.6 per ‘cent; the merchandising issues, . 14.4 per tent. and the utilities, 12 per cent. The increase in valuations from the %lose on March 3 to the close on March 15 was equal to about 76 per cent of the extensive decline in February. Clearing House Plan Grows. i Action toward organizing a larger humber of clearing houses among banks has been reported to the American ‘Bankers’ Association from many parts ©of the country following the distribu- tion of its plan several days ago pro- posing the transformation o( existing county and district bankers’ associa- ‘tions irto a_closer-knit organization to .aid in the further working out of the Governitent’s plans for restoring nor- mal banking. . i The association’s clearing house pro- osal was made through State bankers’ fassociations in every State with the aim jof enabling bankers to extend greater group ‘“‘co-operation with the Govern- ment along such lines as may prove de- isirable in dealing with the problems of #the period of banking reconstruction fthat is at hand.” It pointed out that for several years ts Bank Management Commission has tco-operated with State associations in “promoting organization of both city and regional clearing house associations and is prepared to furnish complete plans for initiating, organizing and operating them. New Life Insurance Reported. New life insurance production in February was 268 per cent less than 4in the like month of 1932, according to a statement of the Association of Life Insurance Presidents. The Teport ag- sgregates the new business records, ex- {clusive of revivals, increases and divi- $dend additions, of 44 companies which $have 81 per cent of the total volume of ha D ? life insurance outstanding in all United tates legal reserve companies. ¢ For February the total new business $of all classes written by the g4 com- anies was $609,725,000. against $833.- $324.000 in February, 1932. New ordi- ary insurance amounted to $424 483.- g‘oo‘ against $577,633.000. a decrease of 26.5 per cent. Industrial insurance gx-lmoun(ev:l to $168,400,000, against $220.- 568,000, a decrease of 23.7 per cent. {Group insurance was $16,842,000, Sagainst $35,123,000, & decrease of 520 sper cent. s Stock Purchase Is Approved. H holders of the American Stores o eir annual mecting in Phila- |delphia, re-elected all directors for the scoming year, a very large percentage lwof the outstanding stock being voted ¢ They approved purchase by the com- spany during 1932 of 96.630 shares of ‘stock in open market at an average iprice of $27.88 and approved the reduc- ‘tion in the authorized capital to 1,500,- 1000 shares from 1.800,000 shares. 2 } There are now in the company's ‘treasury 97,130 shares which will be re- ‘tired for the present. to be used for lexpansion or acquisition of stores if inecessary. +The pamphlet report of the Virginia {Iron, Coal & Coke Co. for year ended {December 31, 1922, shows net loss of 1532495 after interest, idle plant ex- Ipense, depreciation, depletion, etc. The lequity of the company in current earn- ‘ings of unconsolidated _subs)dlarlesvfor ithe year exceeded dividends received “from such subsidiaries by $17.293. For ‘year ended December 31, 1931, net profit fwas $103,948, equal to $5.32 a share on 119,908 shares of 5 per cent preferred ‘stock on which there aré accumulated ‘unpaid dividends. ! Heard in Fmancial District. * Trading on the Washington Stock MExchange was very quiet today, the only sales being in Washington Railway & ‘Electric preferred, at 80 and 80%. ‘American Telephone is now quoted ex- \dividend on the board. The unlisted bonds were called off, as is done on ‘every Friday, Several changes were ‘noted in the bid and asked prices. Loca! broker offices were exceedingly popular again today, as a great many icustomerswatched the board in per- ison. It has seemed like old times to ithre partners, managers, customers’ men ‘and order clerks during the past three idays. ! The total number of General Motors ‘common and preferred stock holders for ithe first quarter of 1933 was 372,284, ‘compared with 365,085 for the fourth iquarter of 1932 and with 345,194 for the irst quarter of 1932. Pullman, Inc., has declared the reg-| ular quarterly dividend of 75 cents, pay- \able May 15 to stock of record April 24. Chemical Bank & Trust Co, New York, has declared the regular quarterly dividend of 45 cents, payable April 1 to :stock of record March 25. SHARP WHEAT ADVANCE SCORED AT BALTIMORE Special Dispatch to The Star. , BALTIMORE, March 17.—An ad- ivance of 7 cents a bushel over the {price at which wheat closed on ry '24, the day preceding the bank mora- torfum, was recorded on the Grain Ex- .change here yesterday when No. 2 'red Winter garlicky spot domestic ‘closed at 65 cents a bushel. . Flour showed an advance of 25 cents a barrel on all grades of both wheat and ‘yye flours, ANCIAL TRANSACTIONS ON THE NEW YORK Received by Private Wire Direct to The Star Office. Yesterday's ~Prev. High. 5% 15% 10w 2% 1% Adv Rumley...... 10% 7% AfMliated Prod 1.20 6415 47% Air Reduction (3). 13% 11% Alaska Juneau(60c). 1% 1 Alleghany Corp..... 3% 1% Alleg Corp pf $30ww. 2% 2 Alleg Cp pf $30 xw 8% 5% Alleghany Steel. . 897 7T0% Allied Chem & D (6). 9% 6 Allis-Chalmers Mfg. 22% 18'5 Amerada Corp (2)... 7% Am Ag Chem (Del).. 8 Am Bank Note., 2% Am BeetSugar pf. 9'4 Am Brake Sh&F 60c., 62% Am Brake Sh pf (7)., 49% AmCan (4)......... 64 Am Car & Foundry 15 Am Car&Foundry pf. 2 AmChain....... . 13 Am Comc'l Alcohol. . 4 Am European Secur. 3% Am & Forelgn Pwr. . 6% Am&Forgn Pw pf (6) 9 Am & For Pw pf (7). 5% Am & For Pw 2d pf.. 4's Am Haw Stship (1).. 2% Am Hide & Leather. . 13% Am Hide & Leath pf. 29% Am Home Prod 4.20., 3% Am Ice Co... 4% Am International. 57 Am Locomotive. 17% Am Locomotive pf Am Mach&Fdy (80c) Am Metal Co. Am News (13 Am Power & Light AmP&LtpLA(2%), Am Pwr & Ltpf (3).. Am Radiator.. . Am Rolling Mills.... Am Shipbuilding (2). Am Sm & Ref. 1 Am Sm & Ref E Am Sm & Ref 7% pt. 4 Am Snuft (13%). . Am Steel Foundry... Am Stores (12%)... x Am Sugar (2). . Am Sumatra Tob. ... Am Tel & Tel (9).... Am Tobacco (5)..... Am Tobacco (B) (5). 5 Am Type Founders. . 2 Am Type Fdrspf. ... Am Water Works(1) Am Wat Wks ctfs(1) Am Woolen . Am Woolen pf. Anaconda Copper. .. Anchor Cap (60c). ... Andes Copper. .. Archer-Daniels (1).. Armour of Del pf(7). Armour of 111 (A). Armour of 111 (B). Armour of il pf. 24 Artloom Corp. . 313 Asso Dry Goods. 15 343 597 1615 Atlantic Coast Line. . 12% Atlantic Refining(1). 9 Atlas Powder. 61 Atlas Powder pf (6). 313 Auburn Aufo (2p.... 55 Aviation Corp (Del). 37% Baldwin Locomot. 9% Baldwin Locomot pf. 81, Baltimore & Ohfo. 9%, Baltimore & Ohio pf. 68% Bang & Aroos pf (7). 3 Barnsdall Corp Beatrice Cream: Beatrice Crm pf (7 Belding-Hemingway . Rendix Aviation. Best & Co. . Bethlehem Steel. . Bethlehem Steel pt Blaw Knox . Bohn Alumn & Brass Bon Ami (A) (15). Borden Co (1.60) Borg Warner Briggs Mfg Co. Briggs & Strat (1). .. Bklyn Manhat Tran.. Bkivn Man Tr pf (). Bklyn Union Gas (5). Brunswick-Balke. Bruns Term & Rwy: Bucyrus-Erie Bucvrus-Erie pf Budd (EG) Mfg. . 5 Budd (EG) Mfg pf.. 2y Budd Wheel e 8% 6i4 Burrough A M(10c). 15 815 Bvers (A M). . 7% California Packing. 2 Calumet & Hecla. . Campbell-Wyant Fy. 4 Canada Dry G A (1). Canadian Pacific. Cannon Mills (1) 4 Capital Admin (A Case (J 1) Co.. Case (T 1) pf (4). Caterpillar Tractor. . Celanese Corp. - Celotex Co... . Cent Aguirre (1%) Cerro de Pasco. . Certain-teed Prod Checker Cab Mfg. ... “hes & Ohio (2%4). .. Chesapeake Corp (2). Chi & Eastern 111 pf.. Chi Great Western. .. Chi Great Westn pt.. Chi Mil St P & Pac... Chi Myl StP & Pac pt. Chi & Northwestern. 4 Chi & Northwest pf.. Chi Pneumatic Tool. . Chi Rock I & Pac.... Chi RI& Pac6% pf. ChiRT&Pac 7% pf. Chi Yellow Cab (1)... Chickasha Cotton Oil Chrysler Corp'n. City Tce & Fuel (2) City Ice&Fuel pf 6% . City Stores. ... Clev & Pitts (315).. Coca-Cola Co (7) Coca-Cola (A) (3)... 4 Colgate-Palm-P (1). 4 Colg-Palm-P pf (6).. Colo Fuel & Iron. . Colo & South 1st pf.. Coiumbia Gas (b1).. Columbia Pict vic. Colugnb Carbon (2).. Commerclal Credit. .. Comc’]l Credit (A). ... Comel Cred 1st(6%). Comel Inv Trust (2). Comel Solv (60c).... Comwlth & Southn. . Comwlth & Sou pf(6) Consol Cgrprpf 6%. 5% b4 sFELLE 52 LKL 41T & FEEFE FES 6 4% 9% 58% 61y 6 20% Consol Film. B “onsol Film pf. Consol GasN Y (4).. Consol Gas NY pt(5). Consol Laundries. ... Consol 01 Corp Cons RR of Cul Consol Textile. Contl Baking (A Contl Baking (B).... Contl Baking of (4).. Contl Can (2).. Contl Insur (1.20)... 1% Contl Motors : 4% Contl Oif (Del) 45% Corn Products (3)... 31 Coty Inc . 23 Cream of Wht +23% 14% Crown Cork & Seal... 24% Crown C&S pf (2.70). 14 Crown Zellerbach. 9 Crucible Steel. 16 Crucible Steel pf. Y% Cuda Co... 215 Cuba RR pf. 1% Cuban-Am Sugar. ... 10 “uban-Am Sugar pf. 614 Curtis Publishing. .. 30 Curtis Publishing pf. M Curtiss-Wright..... 24 Curtiss-Wright (A) 13 Davega Stores (h3 1 Davison Chemical. 64 Deere & Co pf (20c).. 37% Delaware & Hudson. 17% Del Lack & Westn. ., 54 Detroit Edison (6). .. 10 Devve&Raynolds(A) 17% Diamond Match (1).. 12 Dome Mines l':;fsfl) e 99% Dupont deN ab pf| 1% Eastern Roll Mill: 50'% Eastman Kodak (: 3% Faton Mfg Co.. 11% Elec Auto-Lite. Bales Net. Ad;l 00. High. Low. uua.. Ohge. 3 Stock and Dividend Rate. 1 Electric Boat........ 1 - Elec & Musical Instr, 3% Blec Pwr & Lt. . 7 Elec Pwr&Lt §6 pf.,. 10 Eleo Pwr&Lt §7 pf. 21" Elec Storage Bat (2 26 Endicott-Johnson(3) : Engineers Pub Sve. ~Prev. 1933 High. Low. ErieRR 1st pf. 3 ErieRR2dpf % Evans Auto Prod. 10 Exchange Buf (25¢ e e 14 "10 Fairbanks-Morse pf. 4 8 Fashion Park As pf.. 1% % Federal Mot Truck. . 3% 1% Fed Water Service A 18% 12% Fidelity-Phoen 1.20. . 14% 9% Firestone T& R (1).. 63% 42 Firestone T&R pf(6) 56 48 First Nat Strs (2%). 4 2% Follansbee Bros. .... 10% 4% Foster-Wheeler 21 13% Fourth Nat Inv 1. 2% 1% Fox Film (A) aee 23% 12 Frankin Simon pf(7). 26% 164 Freeport-Texas (2) 7% 4 Fuller Co2d pf.. 4% 2% Gen Am Investors. 20% 13% Gen Am Tank Car(1 T 4% Gen Asphal 15% 13 Gen Baking (2) 3% 2% Gen Bronze. . 12 6% Gen Cable pf... 334 29 Gen Cigar (4) 16% 10% Gen Electric (40c). .. 12 11% Gen Elec spec (60c).. 28% 21 GenFoods (2)... 1% % Gen Gas & Elec (A) 9% 4% Gen G&E cv pfA g6 42 35% Gen Mills (3).... 10 ~ Gen Motors (1) 85% Gen Motors pf (5). 3% Gen Printing Ink. 2'4 Gen Public Service 13% Gen Ry Signal (1). % Gen Realty & Util 2% Gen Refractorie 127 Gtllette Saf Raz % Gimbel Bros. . 49'% Glidden Co prpf (7).x 3 Gobel (Adolf)..... 12 Gold Dust (120). 3 Goodrich (B F . 91 Goodyear Tire&Rub. 27% Goody'r T&R 1st (2). 9% Gotham Silk Hosiery 1 Graham-Paige. 3% Granby Consol. 22% Grand Union pf (3) 15% Grant (W T) (1). 6% Great Northern pf. 5% Great Northern Ore. . 7. Great West Sugar. 8% Greene Cananea. .. % Grigsby Grunow. % Guantanamo Suga 2% Gulf Mobile&Nor pt. Guif States Steel. ... Gulf States Stl 1st pf Hahn Dept Stores. .. Hahn Dept Stores pf. Harbison & Walker Helme (GW) (7). Hercules Powder 114 x Hercules Pow pf (7). Holland Furnace. . Homestake Min (9).. Houdaille-Hersh (B). Houston Oil B Houston Oil (new) Howe Sound (40c). Hudson & Man (2 Hudson Motor Car-. Hupp Motors. linois Central Indian Motor Cycle. . Industrial Rayon (2) Ingersoll-Rand (1%) Iuland Steel Inspiration Copper Insuranshrs Del 15c. Interboro Rap Trans. Interlake Iron. X Int Agriculture Int Bus Mach (6) Int Carriers Ltd. Int Cement. Int Combustion . . Int Harvester (60¢).. Int Hydro-Elec (A).. Int Merchant Marine Int N Int nt Paper & Pwr (C).. Int Shoe (2) Int Silver. . Int Silver pf Int Tele & Teleg. Interstate Dept St. Island Creek Coal(2) Island Creek pf (6) .. 287 28 Jewel Tea Co (3) 12% Johns-Manville. . 57 JTohns-Manvillepf... 11 35 ones & Lauzh pf(1) 10s 6" Kansas City Southn, 2 12% Kan City Sou pf (2)." 2% Kaufmann Dept St ' Kelly Sprjng Tire, 5% 3u Kelvinator Corp. 11'; 7% Kennecott Copper 51 Kresge (S S). .. 27 Kress (S H) (f1). 14% Kroger Grocery (1). Lambert Co (4) Leh Port Cement . Lehigh Valley Coal Lehigh Valley R R. Lehman Corp (2.40). Lehn & Fink (2). Libbey Owens Glass. Liggett & Myers(t5) Ligz & Myers B (15). Lily Tulip Cup (1%). Lima Locomotive Link Belt (80¢) Liquid Carbonic. Loew's Inc (1). Loft Inc Loose-Wiles Bis (2). Lorillard (P) (1.20) Louisville & Nash. Ludlum Ste McCrory Stores pf. .. McIntyre P M(t1%). McKeesport T P (4). McKesson & Robbins McKesson & Rob pf... McLellan Stores Mack Trucks (1)\...x Macy (RH) & Co (2). Magma Copper. Mallison & Co Manati Sugar Manati Sugar pf.... 100s Manhat Elev mod gtd 50 Marine Midld (80c).. 31 Marlin-Rock (1). 1 3 Marmon Motor Car. . Marshall Field & Co. Mathieson Alk (1%). i May Dept Stores (1). Maytag pf ww. Maytag Co 1st pf. % 58 110 21% 130 83% H 31% 4% 17% 30% Mengel Co. . Mengel Co pf. Miami Copper- Mid Continent Petm. Midland Steel Prod Minn Moline Pow Mo Kan & Texas Mo Kan & Texas pf Missourli Pacific 3% Missouri Pacific 7 Mohawk Carpet. . 25 Monsanto Chem 1% . 8% Montgomery Ward. . % Motor Meter G & El.. 7% Motor Products. 1% Motor Wheel, 3% Mullins Mfg. .. 7 Mullins Mfg pf. 1% Marray Corp. 114 Nash Motors (1). 31% Nat Biscuit (2.80). 8% Nat Pwr & Lt 15 Nat Steel (50c). 5 NatSurety...... 61% Nat Tea (60c).. 4 Nevada Con Copper. 2 Newton Steel. 14 NY Central.. 3% N CChi & St Lpf 1, 8% 5% 104 N Y & Harlem (5) 5051084 10814 % NYInvestors....... 2 % % 11% N Y N H & Hartford, 100 "16% - 14% 19 NYNH&Hartpf.. 7 26 26 % N Y Ont & Western.. 32 10% 1% N Y Shipb'ldg (10¢). 81 N Y Shipbldg pf (7). 2608 59 99 N Y Steam 1stpf(7). 90s 100% 17% Noranda Min (a1.10). 1 111% Norfolk & West (8).. 78% Norf & Westn pt (4). 100s 4 North Am Aviation 17% North Am (b8 %stk). 194 56 North Am Ed pf (6). 1 10% Northern Pacific 187 29% Northwest Tele 8% 015'4:": U N FEEFREFEST FERL1 4 nl > F ~Prev.1933— _ Stock and h. Low. Dividend Rate. 4% Oh1o Ofl...... 13 Oliver Farm Equip. 3% Ollver FEqQPrpfA.. 1% Omnibus Corp 64 Omnibus pf A (8). 10% Dtis Elevator (§0c). 1% Otis Steel..... 2Y% Otis Steel pr pf...... 900s 3¢ Outlet Co (4)... 1008 31% Owens I1l Glass (2).. 2214 Pacific Gas & EI (2).. 28% Pacific Lighting (3). 6 Pacific Mills........ 100s 66 Pacific Tel & Tei (6). 958 1% Packard Motor Car.., 110 12% Pan-Am Pet (80c)... 1 11% Pan-Am Pet B (80c). % Paramount Publix Park Utah.... Patha Exchange. . Patino Mines. Peerless Motor Penick & Ford (1) Penney (J C) (1.20) Penny (J C) pf (6).. Penna RR (h50c). Pere Marquette. ... Pere Marquette pr pt Pere Marquette pf... Petrol Corp of Am Phelps Dodge. .. Phila Co 6% (3) Phila& Read C& 1. Philip Morris&Co(1 Phillips Petroleum. . Plerce Petroleum. ... Pillsbury Flour(60c) Pitts Terminal Coal. Pitts Term Coal pf.. Pitts United pf. Poore & Co (B). Postal Tel&Cable pf. Proctor & Gam(135). Public Sve N J(3.20). Public Sve NJ pf (5). Puliman Corp (3)... PureOfl.... Pure Oil pf (2). Purity Bakerles (1) Radlo Corp. ; Radio Corp pf (A) 45 Radio Corp pf (B) Radio-Keith-Orph Raybestos-Man (60c) Reading Rwy (1) Real Silk Hosier Real Silk Hosiery p Remington-Rand. Reo Motor Car Republic Steel Republic Steel pf . Reynolds Spring. . .. Reynolds Tob A (3). x Revnolds Tob B (3). x Richfield Oil : Rossia Ins of Amer Royal Dutch. .. Safeway Stores (3)..x Safeway Strs pf (8). x Safeway Strs pf (7). x St Joseph Lead. St L-San Fran pf ... Schulte Retail Store Seaboard Air Line Seaboard Oil (150c)’. Sears Roebuck. Second Nat Inv. Servel Inc. ... . Sharon Steel Hoop. Sharp & Dohme. ... Shattuck(FG) (24¢) . Shell Union Oil. Sheil Union OIl pf. mmons Co._. . Simms Petrolni(2 Skeliy Oil. . .. Skelly Oil pf ww.. .. Snider Packing. ..... Secony Vacuum 40c. Iv Am pf ww (3%). Port Ric Sug 1.60. Southern Cal Ed(2).. Southern Pacific parks- Withington. . Spencer Kellogg (60c) andard Brands (1) 7'y Stand Gas & Elec. ... and Gas&EIl pf (4). Seand Gas&El pf (7) Stand O11 Calif (2).. Stand OII N J ¢1). erling Secur (A).. Sterling S 2 Studebaker Corp. "“I s 0 01 » FE FEFEFTEF FF ~Prev, 1033 High. Low. 4% 10% 1% A% 3% o % 4 1% 14% 8% 28% 11% 80%, 681y 12% 28% 59% 181 15 Y PINANCIAL Stock and . Dividend Rate. 19% Studebaker pf.... 7% Superheater (50c; % Superior Of1 2 Superior St 3 Sweets Coof Am 8% Telautograph (1 10% Texas Corp (1) 16% Tex Gulf Sulph: 1% Tex Pacific Coal&Oil. "4 Tex Pacific Land Tr. 5 Thatcher Mfg Co.... 2% The Fair. . 1 Thermoigd Co. 4% Third Avenue, : 6% Thompson (J R) (1). 3% Tide Water Asso Ofl. 32 Tide Water Assoc pf. 1% Timken-Detroit Axle 13% Timken Roller Bg(1) 2% Transamerica Corp.. 2% Tri-Contl Corp. . 2 Truscon Steel. % Ulen & Co. 9% Und-Ell-F! . 5% Union Bag & Paper. . 19% Union Carb & C (1).. 81 Un Of1 of Calif (1) 64% Union Pacific (6).... 63 Union Pacific pf (4).. 10% Un Tank Car (1.40).. 16% Unit Afreraft....... 51% Unit Atreraft pf (3). 13% Unit Biscuit (2). 10% Unit Carbon. % Unit Dyewood. 2 28% Unit Fruit (2). 15% Unit Gas&Im ( 3% Unit Piece Dye Wks. 314 U S & Forn Secur. 37% U S & Forn Sec pf... 7 U SFreight. 18 U S Gypsum ( 23 107% 101% U S Gypsum pf 2% 9 10%, 5ty Bt 103 4% 4% 1 4% 50% 85% 3 205 T 237 131 bla 10:30 AM.. 1313 U 8 Ind Alcohol. 4% US Leather (A). 64 U 8 Pipe&Fdy (50c). 213 U S Realty & Imp. 2% U 8 Rubber. .. 514 U7 S Rubber 1st pf. S Ty % United 22 Univ Leaf Tob (2) 101 Unlv Leaf Tob pf(8). 2% Util Pwr & Lt (A). "STOCK EXCHANGE | STOCK PRICES SAG AFTER RECENT GAIN Smali Setbaok Registered as . Traders Take Fheir Profits. BY GEORGE T, HUGHES. Special Dispatch to The Star. NEW YORK, March 17.—8tocks and commodities registered a mild reaction today after their recent spectacular performances on the side of advance. It was a day of realizing in all the markets, but the setback was never out of proportion to what is normal in similar circumstances. The stock market was most sensitive in the first hour and again in the last. Volume of trading was lower than at any time since business was resumed after the bank holiday. Money, which had renewed at 4 per cent, dropped to 3%z per cent at noon and tQ 3 per cent before the close. Wheat was higher most of the day, but weakened toward the epd and lefy off % to 7 lower. Cottor. was lower all day. Sugar held up better than any of the other staples. Prices ozened lower all around and, although the list hardened after an hour or so, it remained under the preceding close up to noon. The largest losses were a little over 2 points in American Telephone, American Tobacco B, J. L Case and Allied Chemical. Some disappointment was expressed in the showing of the Allied Chemical report of earnings equal to $3.62 a share, which did not, of course, cover the dividend on the common, but the stock was not down more than others in its group. That earnings had nothing | to do with the reaction was plain from the fact that American Tobacco sold off and that company made a much better report than had been anticipated. While the general list was weaken= ing. the gold stocks advanced. This is a phenomenon often observed in the past year or two. A reaction in the — 1, | market as a whole has many times been the signal for the bidding up of the — % | gold mining shares. McIntyre, Dome, - + %l —1% Va-Car Chem 7% pf. Va Elec&Pw pf (6).. 2'% Va Iron Coal & Coke. + W 12% Vulcan Detinning. = * Ward Baking (B). 1 Warn Bros Pictures. 21 Warren Bros. .. w 1 35 West Pa Elec A ( 35 West Pa Elee pf (6). 40 West Pa Elec pf (7). 88 West Pa Pwr pf (6). 1 Western Dairy (B).. 4 Western Maryland 1% Western Pacific. 17% Western Union. L 11% Westing’se Air B(1). 193, Westinghouse Elec. . Westinghse 1st (314) Wilcox Oil & Gas. ... Will. +2% -1 Wilson & Co pf Woolworth (2.40). Worthington Pump. . 3415 Wrizley (Wm) (3).. 2is Yellow Truck. . 18 Yellow Truck pf. 7'3 Youngstown Sh&Tn. 3% Zonite Products. Sales of Stocks on New York Exchange. 360.000 12:00 Noon 1,270,000 210 P.ML 31 —1% 14% — 5 390 + 1 Dividend rates as given in the above tabl payments based on the latest quarterly or 5 Unit of trading less than 100 shares. % in stock ock. » in stock § 2% — 'l p'Pavable in a Pald this e Payable in cash 1 Plus $1 i1 special preferred stock I Paid last year—no resular rate. nPlus 5% serip. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, March 17.—The follow- | 5° ing is today's summary of important corporation news prepared by Standard | Statistics Co., Inc, New York, for the Associated Press: Advertising, Printing and Publishing. General Printing Ink declared regu- | lar quarterly dividend of $1.50 on $6 | Stant preferred stock. Automobile Parts and Tires. Goodyear Tire & Rubber Co.—Akron | g;oc! operations increased to three days a week schedule from two days; Gadsden plant reopened on two-day week sched- ule. Building, Real Estate and Related Lines. Carey (Philip) Mig. Co. passed com- mon dividend and deferred action on preferred dividend. Chemicals and Fertilizers. Allied Chemical & Dye Corporation }23_’2‘ common share earnings $3.62 vs. Food Products. Compania Swift Internacional (S. A. C.) 1932 common share earnings $3.88 vs. $4.41 (in Argentina gold pesos). Leather and Shees. United States Leather 1932 deficit was $1,806,286 vs. deficit $1,109,076. Machinery. Reece Button Hele Machine Co. de- clared a dividend of 10 cents; previous disbursement 25 cents, April 1, 1932. Metals (Non-ferrous). Magmd Copper Co. passed quarterly dividend on capital stock; last pay- llz;e;;t 12}; cents a share, on January 16, United States' Preight Co. 1932 net income $127,524, vs. deficit $339,840. Office and Business Equipment. National Cash Register 1932 deficit before special charges of $1,100,000 for liquidation of inventories and for col- lection expenses was $3,399,265, vs. net income $824,339. Oil. Skelly Oil 1932 deficit $674,507, vs. deficit $2,117,110. Wilcox (H. F.) Oil & Gas Co. 1932 deficit $99,066, vs. deficit $1,069,783. Paper and Paper Products, Abitibl Power & Paper Co., Ltd., defl- cit in period January 1 to September 10, 1932, $1,572,147. . Railroad and Raliroad Equipment. Pennsylvania R. R. reduced -hrl? of officials an additional 10 per cent, effective March 1; unclassified forces to tak dditional days off eac teel Co. 1932 deficit/ was $1,655,115 = deficit before deprecia: 1855, V8. lore - tion of $616,631. Utllities. Hydro-Electric Co. net in- | Cumulative_Tr &h dollar was stro: INVESTMENT TRUSTS | NEW YORK. March 17 (#).—Over- | the-counter market. (Quotations as of 12 o'clock.) DOLLAR GAINS AT PARIS. PARIS, March 17 (#)—The American r on the exchange today with smali-lot buyers dominating | extremelv light trading at 2531 to| 25.33 francs per dollar. = 1 'y Producing _Rovalties major ANDREW E. all FODOR #13 Sguthern Bldg. 15th & B 8 E SILVER QUOTATIONS. NEW YORK, March 17 (#).—Bar sil- ver easier, 14 lower at 28. NEW YORK BANK STOCKS | NEW YORK, March 17 (#).—Over- the-counter market: (Quotations as of 10 o'clock.) BANKS, Bid. Asked Chase (B) ... o0l Commercial (%) ... Pirst National (100) | Manhattan (2) . National City (1) . Public AR LI ek | TRUST COMPANIES | Bankers (3) Hanover ( Chemical (1.80) Continental (1.20y Corn Exchange (4) Empire () ... Guaranty b Irving (1) ex-d iz Manufacturers New York Trust (5) ex-d. . Title Guaranty & Tr (4.80) . *Includes extfa. The dollar ||| Capital and Surplus, $3,500,000.00 New Residents in Washington —those who will be identified with the new administration, and others—are invited to avail themselves of the many services afforded by this strong, companies. BULIDING ASSOCIATION 7th and Indiana Ave. NW. old bank. ¢ We pay interest on checking and savings accounts...Rent Safe Deposiy Boxes...Manage sropeny and serve in all other duciary capacities. ’ Webster Eisenlohr.. 32 - Wesson O & Sn (5 3 14 <13 -5 in ‘stock. | Homestake and Alaska Juneau were ali strong at this stage. The sugar stocks made good resist- | ance from the start and resumed their advance before the others. American ™ | Sugar sold at a new high early in the 67 Waldorf System (1). +% | day. Sugar futures were strong, after | an irregular opening. in active trading. | As a rule the commodity stocks did bet- |ter than the average. Utilities were inclined to lag, as they have all through the recovery. Speculative opinion was mildly opti- mistic. It was held that the market had given a good account of itself but there were still too many uncertainties to allow of complete confidence and most traders were willing to stand aside awaiting events. Volume was much lower than in either of the last two days since business was resumed, but the interest in the customers’ rooms was just as great. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co ) Nominal gold Sellinz checks v today. London. Paris. Brussels. belga Berlin. mark lira h, franc diachma . peseta Vieana. schilling. Biidapest. penso. . | Prague. crown (n.) | Warsaw. " zloty Copenhagen. crown | Oslo. crown Stockholm. Montreal. pound. . franc crown discount., FOR SALE FIRST TRUST NOTES yieldi Well secured on modern residen sale at 97'c with accrued inters Address BOX 500-K, Star Office. PROVIDES ITY | JNCREASED ., CUPREME NCOME “ith YECURITY BOOKLET MAILED ON REQUEST LEROY GOFF 1036 Woodward Blds. NAt. 0310 Need Money Will Sell $21,000 for $8,000 Ist Trust Note: Shoreham Hotel. . Lots, Connecticat Courtland Avenues. .. Broadmoor Apartments. . Need the money in my busi- ness—My bank closed. Act at Once Jack Politz, Attorney 1010 Vermont Ave. National 2400 g E’fl‘!;;“’_:j; LOANS ~ mpreved District of Co- ia Real Estate Seeurity 69th Series of Stock Now Open for Subscription mes E. Connelly, James F. Shes, Jmep uident Secretary U. S. GOV'T. ALL BONDS Bought, Seld, Quoted Robert C. Jones & Co. Shoreham Bids. ME. 2922-23-24 A HIGH RETURN WITH SAFETY 6% FIRST MORTGAGE NOTES | Secured on_Conservatively Appraised Homes in the District ,of Columbia DENOMINATIONS $250 UPWARD BOSS & PHE 1417 K ST. 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