Evening Star Newspaper, March 19, 1933, Page 49

FINANCIAL. JOOS EEGLAR " INPROFIT-TAKING == Bpecialties Show Largest | s “Losses—U. S. Government [ lssues Are Strong. BY VICTOR EUBANK, Associated Press Financial Writer, NEW YORK, March 18.— Further profit taking in the bond market was fairly well absorbed today and, with the exception of various specialties, prices were inclined to follow & rather narrow range. Both traders and investors were im- pressed by the continued strength dis- played by United States Government securities. Most of these listed issues, despite their striking advances since the reopening of the market, were again in demand at fractionally higher prlces ‘The majority of the purchasing tributed to institutions which are riedly rebuilding their portfolios fol- lowing the virtual return of banking normaley. ‘There was a moderately easier ten- dency displayed by the recently buoyant railroad group. Followers of this cate- gory were watching closely plans for a number of carrier reorganizations. A Missouri Pacific readjustment proposal is expected to be announced soon which will involve the system’s $34,500,- 000 Iron Mountain maturity of May 1. Great Northern and Chicago & North- ,western refunding plans for special ' maturities are also being worked out with bondholders. While moderately lower prices were recorded by issues of Santa Fe, Balti- | more & Ohio, Canadian Pacific, Chicago [ & Northwestern, Delaware & Hudson, Southern and Unifon Pacific, improve- | ment was shown by liens of Chesapeake | & Ohio, Erie, Missouri Pacific, New | York Central and Pennsylvania. Highest grade utilities and industrials : generally were steady. Some of the American Telephones moved up a bit, | and bonds of Gulf States Steel, Good- % year, Texas Corporation and Postal } Telegraph firmed. Chile Copper 5¢ were heavy, as were National Dairy . 61,5, Detroit Edison 4!2s and Inter- national Telephone 41s. German obligations steadied some- what after their recent slump and loans of Great Britain, Belgium and Italy improved. Some French issues were under pressure. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, March 18—Following Is today's summary of corporation news prepared by Standard Statistics Co., dnc., New York, for the Assoclated 'SS.. Advertising, Printing and Publishing. American Colortype Co. 1932 deficit $1,013,960, vs. deficit $409,222. Conde Nast Publications, Inc., 1932 Meficit $63,907, vs. net income $370,460. Automobiles and Trucks. Graham-Paige Motors Corporation fncreasing working force by 1,400 next week. Automobile Parts and Tires. ohn Aluminum & Brass Corporation 4932 deficit $720,567, vs. net income $295,333. Goodrich (B. F.) Co. has restored walaries of employes to basis in effect prior to March 6, 1933. Leather and Shoes. Diamond Shoe Corporation 1932 com- #non share earnings 40 cents, vs. $1.78. Machinery, Babcock & Wilcox Co. declared a terly dividend of 25 cents; on Jan- uary 2 quarterly distribution of 50 cents was made. Bucyrus-Erie Co. 1932 deficit $1,840,- 716, vs. net income $823977. ’fleuls (Non-Ferrus). Dodge Corporation 1932 tenis F$4,902.325, vs. deficlt. $5,057,378. Miscellaneous. Beneficial Industrial Loan Corpora- ‘tion 1932 common share earnings $1.65, ¥s. $2.03. Bush Terminal Co—H. B. Lake, Frank Bailey and F. J. Lisman resigned ag directors; latter recommends that snnual meeting scheduled for April 3 be postponed for 30 days and that stockholders committee be appointed to investigate company's affairs. Harbinson-Walker Refractories Co.—. Kittanning plant is resuming after & ene-year shut-down. Owens-Illinois Glass Co. received an order for 14,000,000 beer bottles from General Storage & Products Co. of Toledo and an order for 4,320,000 bot- tles from Buckeye Products Co. of ‘Toledo. United States Playing Card Co. 1932 common share earnings 27 cents, vs. $1.56. Office and Business Equipment. National Cash Register Co—Reposses- sion of cash registers in this country in 1932 reached total of $5,147,558. ol Indiana Pipe Line Co. declared s dividend of 15 cents; last previous pay- ment was 15 cents on 1932. Railroad and Railroad Equipment. Revenue freight car loadings in week ended March 11 totaled 437,813 cars, a decrease of 40,014 cars under previous week and‘137,668, or 23.9 per cent under like 1932 week, decrease from preceding week was due to banking holiday; in week ended March 11 decrease from | 1932 week Was 23.9 per cent. Chicago & North Western Railway— ‘Holders of over 24 per cent of 5 per cent debentures have assented to partial cash | &5 refunding plan for May 1 maturity. Erie Railroad 1932 deficit was 33- & 142,997 vs. deficit $901,093. Great Northern Railway—Over 40 per- cent of first and refunding mortgage ; bondholders have agreed to allow ex- tension of St. Paul, Minneapolis & Man- itoba mortgage. Southern Pacific Co. asks Interstate Commerce Commision for a three-year | loan of $22,000,000 from Reconstruction | Finance Corporation; proceeds would ; be used to pay equipment trust obliga- tions, maturing bonds and for other| corporate purposes. Retail Trade, Sears, Roebuck & Co—Retail busi- mess in large cities is reported to be showing improvement, but mail order sales continue to lag. Steel and Iron. Spang, Chalfant & Co. 1932 deficit $900,969, vs. deficit $236,025. ‘Tobacco. Bayuk Cigars Inc., declared regular quarterly dividend of $1.75 on first pre- ferred stock. Utilities. American Water Works & Electric Co. February electric output of sub- sidiaries was off 14 per cent; two months off 9.5 per cent. Citles _Service Co—Kansas Public Service Commission ordered 12 gas dis- | Gen tributing companies to fix domestic rates on a basis of a 15-cent city gate rate for 1,000 cubic feet against present charge of 40 cents; also directed com- panies to discontinue including on books payment management fees until com- misison approves such cl es. i _'Empire District Electric Co. 1932 pre- L @ured share earnings $1.23, vs. $2. ovember 15, | g, SUSTAINED RECOVERY IN BUSINESS SEEN Speclal Dispatch to The Star. lancing and the of the United States dollar in forcign xchmn ere definite symptoms that test crisis in American financial hmory has been puled says the United Business Service of Boston. This state- ment is amplified by the prediction that the fundamental adjustments which are now taking place justify the psycholozy of con.fldence 1t is this thal possible the start of a uusu!.ned recov- ery in business, the servlce ld SCHACHT'S BANKING ABILITY IS LAUDED New Head of Reich Finances Well Known in Wall Street. By the Assoclated Press. NEW YORK, March 18.—The news of the election” of Hjalmar Schacht as president of the Reichsbank was re- ceived with the keenest interest in in- ternational benking quarters in Wall | Street. Known personally to many of Wall Street’s leaders, Schacht is regarded as one well groundad in central banking technique. No inflationary policies will be permitted by the new Reichsbank head, according to informed persons, who believe, however, that he may see | fit to ndflp'. a more liberal attitude to- ward the granting of credit, Led Fight for Mark. It was Schdtht who led the painful fight which led to the stabilization of the mark following Germany's chaotic experience during the post war era of inflation. The memory of this chapter has been indelibly engraved on the | mind of every Gemn and no recur- | rence will ever be permitted, bankers here say. Questioned today, following his re- cent return from Germany, F. Abbot Goodhue, president, Bank of the Man- hattan Company, and chairman of the subcommittee which represented the American banks in negotiating the new standstill debt agreement with Ger- many, said: 78 Schacms election should be reassur- ing from the standpoint of the foreigner as well as the German citizen. His essential conservatism, coupled with his banking experience augur well for the prevention of inflation and the preser- vation of the mark =t parity.” In a general discussion of the finan- clal and political cutlook of Germany— as understood from the standpoint of the American business man—no fear was expressed here regarding the threat of monarchistic influence. International banking quarters doubt that Chancellor Hitler’s regime will .ever lead to a re- turn of monarchy in Germany. Even if this should happen, it is not believed that there would be any change in the announced German policy of recogniz- ing the sanctity of private obligations. Agrarian Program. Concern was expresed, however, as t0 the ultimate effect of Germany’s vig- orous agrarian program. This would preclude all exports—in so far as pos- sible—for the express purpose of de- veloping the agricultural position of the country. A sharp dislocation of trade relations is inevitable, it was said. In this connection it was pointed out that in 1931, England was Germany's best customer, with Russia third or fourth in the list. In 1932 England was fifth and Russia first. But business with Russia is described as of a_highly speculative nature. Thus far the Reichs- bank has followed the policy of guar- anteeing credits extended by German industrialists to Russia. POTATO mxm. CHICAGO, March 18 (#).—(United States Department of Agriculture)— Potatoes, 66, on track 239, total United States shipments 1,048; aught!y ‘weak- er, demand and tndmg slow; supplies liberal; Wisconsin round whites 70-75; Idaho Tussets 1.12%-1.17%, mostly 115! Michigan russet rurals 70-75; New stock, steady; demand and trading slow; supplies light; Florida Bliss triumphs, bushel crates, mostly 1.75. Grocery Sales Improve: NEW YORK, March 18 (#).—Sales of grocery products this month are slightly ahead of 1932, manufacturers assert. Demand for food stuffs in- creased during the bank holiday and wholesalers placed orders for future delivery. EARNINGS REPORTED. NEW YORK, March 18 (#)—Per share earnings of corporations in the past week with comparisons with the previous year included the following: Year Ended January 31. American Tobacco . Allied Chemical & De Americen Gypami d e General American Westinghouse Alr Brake. Island Creek Co: Lebn & Fink Products. New England_Po Union ank Car. - Standard Oil’ of Kentucky. S. Playing Card Quarter Ended December 31. Hershey Chocolate ... o B0 SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co.) Allis-Chalmers Co 5s 19: American Chain Co. 65 10337 American T, 1843 108 War, Wi, &m‘%’ 3 103% Blane Hemln way 85 x-’nu Bethlehem Steel Co 5s 1 { Delaware & Hudson Den. & Rio Grande 4135 1936 Baison, Blec. dihuig. 45 3030, Gen. Petroleum Corp bs 1940 | Gen. Public Service 52s 1939 . { Grand Trunk Canada 6s 1936 9 { Great Northern Ry. 75 1936. Keystone Telephone_bs 1935. | Laclede Gas Light bs 1934 | Eauisviite & Nashyille bs 19 New York Cent, & H TS L 4 i North'est Penna. | Bortland " Gen, “Biec, B8 | Bepub, Tron & Sieel 55 Sinclair Gans. Oll Co M R &G. T IMSR., uthern Bacifc. os Union El Lt. & Union Ol Co. Calif. s Virginia Ry. & Pow. ; 19! Wabeah Wwy. Ou. 88 "5s $o30 NEW YORK B BANK ANK STOCKS NEW YORK, March 18 (#).—Over- the-counter market: Banks. Bk Maphattan (2 Chase Natl (2) Natl City (1) Public (2) . Bankers' (3 B st (45 ‘Hanover_(7°) Chemical (1.80) Continental (1.20) Exch (4) (8 '!ncludes extra. 10012 9 b{ 114 93816 95 16 96 31 98 97 14 98 14 99 31 103 14 ~—1933— High. 16% 37 .70 Low. 12% Abitibl P & P bi 251 Alleghany Ct 19% Alleghany 6s'49. 814 Alleghany bs ‘50 26% Am Beet Sugar ¢ 43 Am Chaindeb6s’33...... 27 Am & For Pow 58 2030 AmIGChem5%s‘49. 78 Am Sm & Ref 5847, 4 102% Am Sugar Ref 6s°'37 4 100% Am Tel & Teleg 4 88% 104 107% 60 Am Tel & Tel 686 Am Tel & Tel 5%8°4; Am WIW & E col tr 5534, Am Writ Pap 6s'47..0000: Argentine 5s 45 Argentine 5%s '6: Argentine 6s A '57.... Argentine 6s ‘59 Jun Armour & Co 4%s Armour of Del 5%s Atch T & S Fe adj 48°95 Atch T & SF gen 4895, Atcu T& S Fe 43848 Atlantic CL 1st 4s Atl Coast Line 4% Atlantic Ref deb 6837, Australia 4%45"56. Australia 5s'55. Australia 585’ Austrian 7s 43 Austrian 7857 B&O 1stés'48. B&O4%s'33. Balto & Ohlo 4% B&O1st58'48. B&Oref58A'95. B & O ref 55 D 2000. Bangor & Aroos s '51 Batavia Petroleum 4%8°4 Belgium €s°65... Belgium 634 Belglum 75’55 Belgium 78 '56. Bell Tell (Pa) Bell Tell of Pa 5s C'60. 4 Berlin City Elec 6%s 51 Berlin City Elec 6%s '59 Berlin mun ext 6%s ‘50 Beth Steel p m 55 '36 Beth Steel rf 53 '42... Bolivia 75’69, Bolivia 8547, 4 Bordeaux 6s’34. Boston & Maine 5s'67. % Brazil 675 1926-! Brazil Cent Ry 78 '52. Brazil §5 '41.. Bremen State 78 '3; Bklyn Edison 55 A "49..... Brooklyn Man Tr 6s A'68 Brooklyn Un Gas 58°50... Budapest 68 '62. .. Buenos Aires prov 6s Calif Packing 5840 Canada 4s’60. Canada 5s '52. Canada Natl 4% Canada Natl 4%s°57 Canada Natl 4%s ‘68 Canada Natl 5369 J Canada Natl 5s'69 Oct Canad North deb 643 "46. Canad Northn deb 7s '40 Canadian Pacific deb 4; Canadian Pacific 4%s Canadian Pacific 58 ‘54 Cent of Ga Ry con 5s '4 Cent Il Bl & Gas 58 °'51... Cent Pacific 1st rf 4849 i Central Pactfic 5s '60 Certain-teed deb 5% 4 Chesapeake Corp 5847, 4 Ches & Ohio gn 414592, 2 Ches & Ohio 4345 A '93 Ches & Ohlo 4%s B '95 Ches & Ohio con 5s°39 Chi B&Q I11 div 48°49. Chi Bur & Q gen 43’58 ChiB&Q4%8B TT.uc0 Chi B & Qref 63 °71. Chi & Eastn 11158 '51. Chi Great West 48°59. ... ChiMStP&PGS'T5.ueee Chi M St P & P ad] 5s. Chi & No Wn 435 2037 Chi & No Wn 4%s C 2037 Chi & Nwn 4%s'49. Chi & Nwn 613536, Chi Railways 1st 6s '27. ChiR1& Pacref 43’3, ChiR14%s'52 4 Chi Rock Isl 43 Chicago Un Sta §86; Chi Un Station 6%s Chi & West Ind con 4s'52. Chi & West Ind 5%s '62. Childs Co deb 5s'43. Chile 6s"60. Chile 6s '61 Chile 6s Jan '61. 6 Chile s Sept "61 4 Chile Copper deb 58 "47. Chile Mtg Bk 63°61... Chile Mtg Bank 63%5 57 Chile Mtg Bank 6%5°56 4 Cin Un Term bs 2020 CCC&StLrt4%sE'T7. CCC&StLGEsD... Cleveland Term 5s B '73 Cleveland Terminal 6%s. Colombin 65 *61, OCt. ... Colo & Sou ref 434835 Columb G & E 58’52 May. Columbia G & E 58'61.... Comm Invest 5138 °49. Con Coal (Md) ref 5s 50 Cons Gas N Y 4%s'51 Y% Consol Ga '57. Cons Gas N Y db 5%: Copenhagen 58°52. . Cuba 5128 '45. Cuba RR 1st 58'52... Cuba North 5% s 42 Czechoslovakia 8s *51. Del & Hud ref 4s'43.. 14 Denmark 4%s°62.... Denmark 5%8 '55. Denmark 6s 4 Den & Rio Grande cn 4s. Den & RG West 5s'55...... Den & R G West ref 6578, Det Edison ref 5s'52... Det Edison ref 55 '55... Dodge cv deb 63 '40. Dugquesne 1st 4%s '67. . Dutch East Indies 65°47.. Dutch East Indies 65'62. . % East Cuba Sug 7%8s'37. Erfe con 45 '96. Erle gen 45'96... Er.eref 5s'67.. Erieref 5 '75. 9315 Flat 7s'46 war. 60% Finland 7s '50 31 Flor East Coast 58'T4 117 French 7s ™ 1221 French 7%s'41.... 61% Gelsenkirchen 6s ‘34. 36 General Cable 5%s 47 1% Gen Theater Eq 6s ‘40 58% German Bank 6s°38.. 43% Ger Cnt Ag Bk 6s July l0 ;3% Ger Cnt Ag Bk 6s Oct 5% 21% German Gen El 6848, 48Y% German Gen El 7s 48% German Gov 5%s"$ 71 German Rep 78 '49. 49% Good Hope S&IW 34% Goodrich 6s '45. 65 Goodrich (BF) 68 Goodyear Rubber 941 Grand Trunk 6s’3 96% Grand Trunk 7s *40. 37 Great North 4338 D 39 Great Nor gen 5%s B '52.. 47 Great Nor gen 78 '36 . 1614 Greek 6s'68.. 28 Hudson Coal 53 °62. . 39% Hudson & Man adj s '57.. 76% Hudson & Man rf 5557 100% Humble Oil deb 58 '37. 101% I11 Bell Tel 1st rf 58 A '56. 104 46 Illinois Cent rf 4s 55 30 Illinois Cent ¢%s 70 Inland Steel 438 A *7! 47 Inter Rap Tran ref 58 12 Inter Rapid Tran 6s'32 51% Inter Rap Trancv 7s 'll.. 54 Inter Cement 68 "4 . 3 Inter Gt Nor adj 6s'53.... 27 Int Hydro Elec 65 30 Inter Mer Marine 39 Inter Paper 5s A "47 Low. Close. Chge. 10116+1.10 . 99 B 3%s194 -duhrlolu 9924 %s51941-43 Jun.1021 100 10129 9916 70 92 92 99% 100% 101% 103% 100% 103% 1031 105 103% 107 52 52 51 40 81 101 24+1.14 102 +1.14 97 gl+3.“ +3.08 10112+8.02 10124+3.24 10112+3.12 103 +4.10 104 30+2.30 109 +5.08 Net 39 45 +1 0% — % . 93% +1% 94 +5 +1% +4% +3% +1% +3% +2 524 +2% 421 +6% 83 -4 51’6410“1 23 ' Int Tel & Teleg ¢: 19% Int Tel & Tel 438 21 IntTel & Tel 63 '5| 76% Irish Free State 95 Italy 7s°6l.... 84% Italy P U Credit 7i 35% Japan 5%s'65. 45% Japanese 50 Kan City South u'so 47 Kan City South 58 '50. . 83 KanCity Term 1st 45°60.. 85 Kendall5%s"48 ww. 76 Lack Stl 18t 55°50. 59% Laclede 5148 P 60, 27 Lehigh Valcn ¢s 21 102 Liggett & Mye: 63'/. Loew’s 65 194; 1, Louisiana & A Louisville G& BEaA Louis & Nash Lyons 6 McKesson & Rob 5%s°50. Man Ry N Y cn 4s'90. Market St Ry 7s A 40, Marseilles 65 '34. Mexico 4s asst 19 Midvale St & O 58 "3 Milan 6%s '52 Mo Pacific 5s F**7' Mo Pazific 55 G Mo Pacific 5s H '80 Mo Pacific 58 I '81 Mo Pacific5%s A Nassau Elec cn gtd 48’51 Nat Dairy Prod 55 ‘48 New England T 1st 5s '52. New Jer P&L 43%s '60 New South Wales 5s '57 New South Wales 5s '58 N Y Cent deb 45 '34. N Y Cntrf 4%s 2013 Edison 55 B ‘44 Edison rf 6%s NH&Hart 448" NH&HdtGl‘AD‘... NH&H 6848, Rys Inc 65'65. .. ¥ ol gen 434839 NY W & Bosgen 4 Niag Share Md 5% '50 Nord Railways 635 "5 & N'folk & W 1st con 48 9 Norf & W div 4544 North Am 65 '61 North Am Ed 58 North Am Ed 55 C'69 North Ger Lloyd 6s '4 Nor Ohto Trac & Lt North Pacific 3s 2047. North Pacific 45 °97. North Pacific 5 D 2047. North Pacific 63 2047. North St Pwr 1st bs A '41. Nor St Pwr 18t 65 B 1941. Norway 538" Ore WashRR& N 4s°'61.. Orient Dev 5%s ‘68 Orfent 6s°53... 4 Pacific Gas & F15s'42.... Pacific Tel&Tel rf 5852, . Para-Fam-Lasky 68 °47... Paramount Pub 5%s'50. ., Paris Orleans 515 '68 4 Penna cn 415 '60. Penna gen 4%s°65. Penna RR 43%s D '70. Penna 4% '63...... Penna 5s64..... Penna gen 65 ‘68 Penna 6%s'36 Penn Pwr & Lt 4%s'81 Peru 6s'60. Peru 636 Philadelphf Phila El Co 4s Phil& Read C& I Philips Petrolm 6% 5 Poland 6s *40 Poland 7 Poland 8s°50. Port Genl Elec Postal Tel & Cab 68 '53. Prussia 6s'52.... Prussia 63851 PubSve E& G 45’7 Pub Serv Gi Pub Serv Gas 414370 Queensland 7s'41.... Reading 445 A’97....... Rem-Rand 5%s A "47T ww., Rhinelbe Union 7s '46 Rhine Ruhr 6s'53. . Rhine Westphalia 6s '52 Rhine West E1 P 6s 53, Rhine West El 63’55 ww.. Richfleld O11 Calif 6s '44.. 4 Rio De Janeiro 63s 53, Rio de Janeira 8s°46. 4 Rio Grande Do Sul 65 RIArk&L 1st4%s'34 % Rome 83s'52 Royal Dutch 4 SLIM&SR&G 4 StIf& SF 45 A '50. 22222222 Sao Paulo State 7s "40 Sao Paulo State % Sao Paulo £ 60 Saxon Pub Wks G%l'il.. Saxon 7s'45....... . Seaboard A L ref 4s'59... Seaboard A L adj §s ‘49 Seaboard A L 6s°45.. Serbs Croats Slov 7s '62 Serbs Croats Slov 8s '62. .. % Shell Union Ofl 5s'47.... 4 Shell Union Of] 5549 ww. Sinclair Of1 6%4s B '38.... Sinclair Oi1 7s A 37 Sinclair Pipe Line 53 "42 Skelly O1] 514839, Southern Bell T&T Sou'west Bell Tel 55 A "54 106 South Pacific col 45 '49. 48% South Pacific ref 4s '5. Southern Ry gen Southern Ry 58 *9. Southern Ry gen South Ry 6% '56. Stand Oil N J 58 4 Stand OIIN Y 4%s Studebaker Corp 65°42. Sweden 5% 854, Switzerland 5%s Tenn El Pwr 6s A *47. Texas Corp cv 53 '44. Texas Pacific 58 B '77., Toho Elec Pwr Tokio 5%s 61 Tokyo Elec L Union E1L & P 6833 UnEIL&P 58’57, Union Pacific 1t 45 *47 Union Pacific 4s'68. . Unton Pac 15t £ 45 2008« United Drug 68 '53 U S Rubber Unit Stl Wks 6%s Unit Stl Wks 6%s A ‘61 Uruguay 6s°60. Uruguay 6s '64. Utah Power&Lig] Util Pow b8 ‘49 ww. Utilittes P& L 5%s Vanadium cv 65"41.. Vienna 63’52 Va Ry & Power 58 '34 Virginia Ry 1st 55 A 3., . Wabash 4%s'78. ‘Wabash 1st 5s 39 ‘Wabash 24 5s 39 Wabash 6s B '76. Wabash 5s D '80. Wabash 5%s'75. Walworth €s A '45. Warner Brs Pic ¢ Warren Bros cv 68°41. Warsaw 7s ‘58. West Shore 1st ¢s gt 2361 ‘Western Elec deb 5s *44.. ‘West Maryland 1st 4s'62. West Maryland 5%s'77.. West Pacific 55 A "46. Western Union cl tr 68 £l Western Union 5s °51, ‘West Union bs 85% Yokohama EA e $. 9114+12% 1001 +2% (Continued Prom Page 3.) Divigend Rate. { Weston Elec Instru,. 2 i% 10% Weston El Inst A. 1 tvaco Chlorine. 8 11~ Wheel & Lake E pf.. qu 12% White Rock M8 (2).x 18 3% White Sewing Mach. [3 1% White Sew Mch pf... 1 2 Wilcox O11 & Gas. 9 16 Wilcox Rich A (2% ). 3 Willys-Overland. ... % Wilson & Co. . 4 Wilson & Co (A). 19 Wilson & Co pf. 26% Woolworth (2.40) ll 8 Worthington Pump. . Bales— A“Mm FINANCIAL. Hy £ 6% 13% Stock and . __ Dividend Rate. 14 Worth Pump (A).... 8 9 81 Wright Aeronautical 100, 39% 34% Wrigley (Wm) (3).. 4 7% Youngstown Sh&Tn. 6% 3% Zonite Products..... Bales— Add 00. High. Low. 17 95 608 1 56 3 5% 10 1% +2% W %-% Dividend rates as given in the above table are the annual cash payments based on the latest quarterly or half-yearly declarations. 5 Unit of trading less than 100 shares. in stock. a Paid ¢ Payable in cash or stocl stock. 1 n speclal 5 nrex Ted stock m Pald last year—no resular f 3 Plus yable in 1 Ps ihis"Sear-no regllar iy o8 ’u"m K. (s 8 5 stock. 2P o i W U. 8. TREASURY CERTIFICATES (Reported by Chas. D. Barney & Co.) Bate—Maturity, 24 H May 2, June 18, 4 Sevi. 15, 1 1 B 3&-! Aul % 45 18, 1 e BeE 15 135 l 19: June 18, 1935 7 1 3 1 0; t. 15, 1937.. 10116-32 1 Feb' 1."1938.. 9024-32 100 26-32 10120-32 101 24-32 BALTIMORE STOCKS. Special Dispatch to The Star. BALTIMORE, m.l'ch 18— Bales. 58 Arundel, unrfi:umm & P el 138 New Amsterdam Cas Co. 870 U 8 Fidelity & Guaranty. BONDS. 3000 United Rwy & Elec 0s 1049... —— FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs ‘London, P“ud.".bne?' Berlin, mark . & g0ld Selling checks pound ... $4.8665 $3.46% 5’_. ul%c 3.94%¢c 3.9 i4.01c 8¢ 7 Rome,lira Z Athens; urich, drachmi Madrid, peseta Vienna, schillin, Budapest, pengo. Prague, crown (n.j. Warsaw. _zloty Copenh: agen, cre Oslo, crown . M olm, crows ontreal dtscount, 16 il INVESTMENT SUGGFS’I'IONS UPON REQUEST ‘w Ferris, Woodroof & Lewis, Inc. | Investment Securities Washington Building NAt. 5925-6 FOR SALE 6% FIRST TRUST NOTES Well secured dences apprai firm. For sale at 87} interest. Address Box 500-K, Star Office modern resi- d by reputable with accrued U. 8. GOV'T. ALL BONDS Bousht, Seld, Quoted Robert C. Joul & Co. BEST STOCKS 15 to buy now ‘When the stock market opened after the holiday in 1914, it ad- vanced almost steadily for one year—the dverages increasing over 80%. If inflation comes, prices can- not fail to rise. Whether or not we have inflation, the situation h23 changed dramatically in the last fortnight as to the type of stocks which show the most promise. _ Selected Issues Will Advance With controlled inflation or normal improvement, common stocks of special types provide an ideal medium to preserve or increase capital. e busincas. and_ security snalysts Bave just completed the selection of 15 _outstanding companies ~ which il sehd this list b fo The Fi umf“isz Vabie) tor $1: Pin 81 to this advertisement and mfll wum your address today. Magazine of Wall Street road St.. Dept. WS-87, 00 B Yok K. X. OF THE CONDITION STATEMENT OF THE Provident Mutual Life Insurance Company of Philadelphia OF PHILADELPHIA, PA. On the 3ist day of December, 1932 a3 r Section Gode siu‘flr:dh‘r‘rn the District o Cotumbia, INCOME. $3,927.200.78 RemeRal Bremiuiis 30:818.636.00 Total premium tncome. 33,745,845 78 Other Yeems 2,911,350.40 e $48,145,246.00 or $12,345,528.69 “pol- o 2298082340 Al other dhbllrume Total disbursements. . u4.127.us4:w $0,753,675.59 80,826,004.34 55,739,171.65 oz.on,ogs.lm 2.824/325.30 5,200,445.78 577808808 6.42 ,!281.620.448.65 . 132.518.96 09856183 IB.BMJ’IZ .47 m:.um .. 19,4424 (Fiate . nox.asvm'mo A n’:n%l fi‘ - $95.475,517.00 FOR SALE llll at 07% Ith ueml ll Address BOX 500-K, Star omu. 20 Outstanding Securities for Income and Profit You cannot afford to miss The Financial World's analysis with the above heading. This group | of 20 securities is made up of | the five most attractive securi- ties in each of these groups: (a) bonds, (b) preferred stocks, (c) | sound dividend common stocks, | (d) speculative common stocks. 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