Evening Star Newspaper, March 20, 1933, Page 15

FINANCIAL. BONDS ARE LOWER - IN QUIET MARKET United States Government lesues Easier, but Losses Are Small. BY CHARLES F. SPEARE. Special Dispatch to The Star. BOND UNITED STATES. (Sales are in $1.000.) High. Low. Close. 10118 1018 10112 10130 10122 10124 1021 10126 10126 9730 9720 9720 997 9830 9830 . 10119 1018 1018 . 10125 1014 1018 1018 101 101 1032 10227 1032 104 31 104 20 10421 10820 1088 1088 Lib 338 32-47... Lib 1st414s 32-47. Lib 4th 435 33-38 U S 3s51-55. Sales, High. Low. Close. 61 321 32 NEW YORK, March 20.—The bond 5 * S % market settled down today to a more 34 normal condition. snce the reopening of the Exchange there was a decline in United Stat>s Government issues. The amount of this was small. in comparison with the average advance of nearly 43, points that had occurred since last Wednes- day. and there was no pressure to sell. The developments over the week end In connection with the political situa- Hon abroad having been favorable. this was made the basis for an advance in wveral groups of foreign dollar loans. As speculative interest in German ob- tions is greater than elsewhere, they received most benefit from the prospects | of a peaceful outcome of the threaten- Ing conditions that were developing on continent. Another favorable influence was the announcement that interest was being Teceived for April 1 coupons on several iasues of German municipal loans, pay- able in dollars. The two German gov- @mment loans showed advances of 2 to 3 points. In other members of the Ger- man group there were gains that aver- 15 points. United Kingdom 515s. Dominion 415s, Australian 4%s and Italian government 7s were all nally higher. The main trend of the domestic list Was generally lower. This was evi- in the different classes of bonds the speculative rails there were small lines and not much volume. In'the same type of public utilities the losses ‘Were fractional except in Western Union 88, which lost 117 points. Both first- ralls and public utilities were . ‘The extreme loss registered was of 3 points in the Studebaker Cor- 6s, which were affected by the ivership for the company, just an- . These bonds had previously 3 points in . National Products 5!4s advanced a point, can International Chemical 5!5s ed the German dollar group with Fee of 1'2 points. Columbia Gas & 5s gained a point as a result of showing of greatly reduced bank last year. Brokers’ Comment “NEW YORK, March 20.—Citing re- ot reactions in the stock market as e mminal technical correction, some today looked for an early re- lon of the rally, poesibly under “leadership. For the first time .20 5 O N STOCK EXCHAN Received by Private Wire Direct to The Star Office. THE EVENING STAR, WASHINGTON, EDITORS HOPEFUL OF BUSINESS TURN % Recent Rise in Prices of Raw Materials Inspires Confidence. NEW YO Sales. High. Int&G Naj6és'52. 2 Int Hydro El 65'44. Int Pa) 5 Int Ry C A 6145°4 IntT&T 4%s"39 IntT&TY 434552, Int T & T 5555 Irish Free St Italy 7s°51. Italy Pub 7s'52 Japanese 513s Japanese 645 ‘54 Kan C F S&M 4536 Kan C P&L 475 °61 Kan City Sou 38’50, Kan City Sou 5s'50. Kan City Ter 45'60. Kan G&E 41;2°80. . Karstadt 65 43 lLaclede Gas 5= Laclede 5148 C Laclede 5155 D60, Lake Shore 315 Lautaro Nit 6s '54 By the Associated Press. NEW YORK, March 20.— A survey of opinion among a score of editors of business and trade publications indi- cates a widespread belief that the Trecent rise in prices of basic materials reflects undoubted awakening of busi- ness confidence. However, editors polnt out that s temE‘onry money shortage during the banking holiday played a part in the Am T&T deb Am T&T deb AmT&T 5 Am Wat Wks 5 Am Wr Pap 654 rgent 6361 May. | Argentine 6s'59 Ju Argentine 6s 59 Oc Argentine 6s A 57, Atchison gn 4 | A1 C L 1st 4s | At C Leol4s At Gulf& W | Atl Ref db 58 | Australia 41 Australi | Augiralia 5 | Austrian 7s B &O 18t 45’48 B&O 41833, B& O 41,560 B&O 1st B & O ret 559 B&OTf6sC | B& O P&WV B&OSwa | Belgium 6s ‘55, | Belgium 615249 | Belgium 7 Belgium 7s'56. Bell Tel Pa 5s B'48. Bell Tel Pa 55 C'60. Benef Loan 68 46. . Berlin Cy El 6s°55. Berlin 634x°50... ., Berlin CEl 634861, Berlin C El 81 8%9. Beth Stl pm 5s | Beth Stl rf 58" | Bolivia 7s | Bordeaux 63 '34. . Bos & Me 55 67 Brazil 615 '26- Brazil 6155 27 Brazil C R 7a '52 Brazil 85°41. Budapest 6s '62 Buenos A R 6s | BR&Pittsq1; Bush Ter con 58’55 Bush T Bldg 5s'60. Calif Packing 55’40 Canada 4s°60 . Clark, Childs & Keech—We think“ Ganada 414+ " that a continuation of better perform- 08 in ralls would, on further general jon of a point or so, warrant trying last week's rally. Bornblower & Weeks—Thus far there | & nothing to indicate that the reaction- trend of the past two trading dsys ts anything more than a normal the sharp and substantial ices which occurred earlier in the “Jackson Bros., Boesel & Co—The correction from the first flush of buy* ig may have to run somewhat further, but we anticipate that, following such tachnic~] readjustment of the markets, prices of choloe equities will rise sub- mni.allél‘ above the highest levels of lar) week. . Shields & Co—It will be a fortnight or more before there is any indication how the changing sentiment is-af- fecting business, and until that is forth- ceming only a cautious trading policy should be followed. | Canada 58 '52 . Can Nat Ry 4%48'51 Can Nat Ry 435’ 'an Ni Can Nat 55 89 Oct . Can Nordb 815246, Can Nor deb 7s '40. Can Pac deb 4s Can Pac d 384 Can Pac 41, Can Pac 3s b4 Cent Ga cn 58 | Cent Pac 1st 45 Cent Pac 58°60. ... . Cen Ry NJ gn 5887 Cert-tddb5%s 43, | Ches Gorp 65 *47. .. | C&Ogem 4158792 |C&04Y%sA | C& O 4%s B*95. | C &0 con CB&Qgn CB&Qrfss 71, | CB&Q 111 4549 Chi Grt West 48'59. Chi M & StP 4135 C Chi M&StP Leh Val cn 48 2003.° Leh Ven 4145 2003, Lig & Myers b: Toew's 65 °41. Long Tsl db 5. Long Isl of Lyons 6s'34. McKes & R 5153850, Manhat Ry cn 45'90 Market St 78 A *40. Marseille 63 '34 Milan 6148 " Mil E Ry&L 5861 Mil E Rv&L 58 '71. MSP&SSM cn 4538 MSP&SSM 5% 7 MK & T 1st 4s 9| MK&TS5sA MK&Tadjh Mo Pac gn 4s'7 Mo Pac rf Mo Pa, Mo Pac Mor&Co 1st 4145°39 Nassau Elec 43 '51. Nat Dairy 5% s'48. . 56 Nw S Wales 5s'57. . Nw S Wales 68'58 ., . NYCent3ys N Y Centdb 4’34, NYCrf41;52013. NYCrf41s2013n NYCrf5s2013 N Y Cent db 6= NYC&SUL 41,578, NYC&StL5 158474 N Y Edison 5s B'44 N Y EL H&P 4549, NY EL H&P 5= '48. NY NH&H 65 '48 NY O&W gn 4s NY O&W rf 4592, N Y Steam 5s56. .. NY S&W gn 5540 N Y Tel gen 415539 50 Nor & Wn di Nor & Wn cn 458 °96. North Am Co 5x'61. Nor Am Ed 58 A'57. Nor Am E 514563 Nor Ger 1.td 65 "4 NorOT & T, 65 °47. Nor Pac gn 3 2047, Nor Pac 459 Nor Pac 55 D Nor Pac r 1632047, Nor St Pw 55 A "41. Nor St Pw 6s B'41. Norway 5s e Norway 515 '65. Norway 65 43. Norway 6552, Ohlo P S T1s"46. .. Oreg-Wash 45 '61.. Orfent Dev 6s Owens 111 Gl 55 Pac GKE 5542 Pac T&T 1= Pac T&T rf Paramount Penn 4% s D'81. Penncn 413860, Penn gn 4156 Penn 415D '70. = RPN T TS =t P T S PTISr SR P e ye) B0 B o upward movement. Most thought the upward trend would continue for & number of weeks, but hesitated to forecast a long continuance of the rise, at least until the volume of public buying has had time to register. mment from a number of editors, as reported to the Associated Business Papers, Inc, follows: Iron and Steel. Earl L. Shaner, Steel—In general, | the prospect for recovery in the steel industry is brighter than at any time !in several years, i John H. Van Deventer, The Iron Age — While avoiding the definite prediction of a general price rise at this time, because of insufficlent evi- dence, I do believe that we may at least assume that with or without in- { flation, we are on a price bottom from which the one possible movement is upward, Metals. H. H. Wanders. Engineering Mining Journal of business by sound banks and a better understanding of the administration’s program of rehabilitation, there was less talk about inflation by operators in the non-ferrous metals; but this was ' replaced by an unmistakable return of {::;nkt‘idence in the general business out- Cement. Nathan C. Rockwood, Rock Prod- ucts—I am anticipating’ no sudden changes in prices in our industries ir- respective of inflation (if indeed there is going to be inflation), because the price level is very largely estab- lished by lon, time contracts, and it requires time for readjustment. | orman N. Stineman, Concrete— A moderate advance in prices of ce- ment in the next few weeks would | have a stimulating effect in two ways. First, it would encourage placing of orders for cement for future delivery. Second, it would stimulate the con- struction of some projects that have been held back in the hope of still lower construction prices. Chemicals. H. M. Batters, “Chemical and Metal- lurgican Engineering—Deflation of prices, wages, and salaries in the | chemical industry is practically com- plete. Further bank liquidations will not likely affect seriously the purchas- 1 ing power for producers’ goods, and in | any event would be largely overbal- anced by the seasonal rise that is con- fidently expected during the balance of March and April. Machinery. Kenneth Condit, American Machin- its—How the improvement will extend to machinery business is anybody's guess, but there are many pending orders, and the change in public psy- chology seems sure to lead to the re- lease of some of them. Builders and distributors are more hopeful than they have been for some time. Meat Products. Paul 1. Aldrich, National Provi- sioner — Meat prices will probably rise somewhat during coming weeks, along with prices in other commodity markets, particularly as supplies of ' meat and livestock are not excessive. | Flour. Kent Ferguson, National and Amer- |ing to millers. Flour prices will follow and | With the resumption | | D. .C, MONDAY, MARCH 20, 1933. N. Y. CURB MARKET Received by Private Wire Direct to The Star Office. Stock and Acme Wirevtc.... 2 Aluminum of Amer760s Aluminum Ltd.... Am Beverage. Am City P&L B 15e Am Cyamamid B.. Am Founde Am Gas & El (11). Am Lt & Trac (2). Am Maracaibo Am Superpower... Am Superpower pf. Am Super 1st pt 6. Arkansas Nat Gas. Arkansas NtGs A.. Ass0 Gas&Elec (A) Auto Voting Mach. Babeock & Wil(1). Blue Ridge........ Blue Ridge ¢ pf a3, Bridgeport Mach. . Brillo Mfg (60c) Buft N&E pf (1.60). Canadlan Marconi. Carrier Corp. ... Celanese Cp pf (7) Cent HudG&E(80c) 1 Cent StatesElec... 7T Cities Service..... 101 Citles Service pf... 2 Cities Sv P&L $6 p 50s Clavde Neon Inc... 4 Clev EI Illu pf (6). 408 Col G & E cv pf(5).3508 Comwlth Edis (5).. 8 Comwlth & Sou wr Comstock Tunnel. . Consol Copper. . Con Gas Utility (A} Consol Retail Strs. Copeland Prod Inc. Copper Range. ... Cord Corp (10¢)... Corroon & Reynold Corroon & Rey pf A Cosden Oil........ Cosden & Cocod. Cresson Consol(4¢) Crown Cork Intl A, Cusi Mexicana Min. Deere &.Co. . - Driver Harri: S East States Power. East Utll Assocv.. Sisler Elec Corp... E1 Bd & Share b6% . 18: E1 Bd & Share pf 6. lec P & L op war. BmpireG&F 1% Employ Rein 1.6 Europ El Ltd A 30c Federated Capital. 1 Florida P & L pf(7) 25s Ford Motor Can A. Ford Motor Ltd.... General Aviation. . Goldman Sachs Gorham Inc pf Hartford El (2 Hazeltine Corp. Hecla Mining..... Hollinger G1d 180¢ Hudson Bay Min. ., Humble Ofl (2). Imp Ol Can rg 50c. InsCoN Am (2)... Intercont Pete. ... Int Petrol (1)..... Int Safety Raz (B) TR Interatate Equities Italian Superpw A .. Ital Superpw db rts Kleinert Lake Shore M (2).. Louisiana L & Ex. . Memphis Nat Gas. Merch & Min Tr 11 258 Met Edison pf (6). 25s Stock and Sale— Dividend Rate. Add 00. High. Low. Nat Fuel Gas (1) 1 Nat Investors. 1 Nat Pw&Lt pf (6).. 508 NatSugarNJ(2). 2 New Eng Pw pf (§)120s 5% | New Jersey Zinc 2. 13 1 | Newmont Mining. 21 | N Y Ship (10e).. 14%% | Niag Hudson P ( Niag Hud Pw C wr. 26% | North Sta P A (6).. 60 | Pac GEE pr1.3715. 1% | Pac G&E 1st pf 1% 15| Pan Am Airways. . 1% | Parker Rust P 23 . 50 % | Penroad Corp. . 7% Potrero Sugar-.. ... 2% | Pilot Radio Tube A 2 [Pitney BowesP. ... 29 | Premier Gold (12¢) 314 | Prudential Inv. ... 261 | Pub Util Hid war. . 4| Pub Ut Hid x w . Close. FINANCIAR, New York Cotton Special Dispatch to The 8tar. NEW YORK, March 20.—Cotton prices today opened off 1 to 3 points following publication of the ginning re- port, which showed a run of 12,703,281 bales from the crop of 1932, against 16,628,874 from 1931 output and 13,- 755,518 from 1930 production, Liver- pool prices were easier, Initial quotations were: March, 6.37, off 3; May, 6.46, off 1; July, 6.58, off 3; October, 6.80, off 2; December, 6.95, off 3; Janusry, 7.04, off 3. TOURIST INCOME LOWER. By the Assoclated Press. Canada’s income from United States motorists was depleted $43,000,000 last year, in calculations by the Com- merce Department, which estimated to- tal expenditures were $145,000,000 as ' | compared with $188,000,000 in 1931, and with' $215,000,000 in 1929. This estimate, based upon the re- turns of postcard questionnaires handed 82 | by Canadian border officials to owners 4s; | or drivers of about 6,700 returning mo- o Roan Antelope. 81 | tor cars, shows that last year's expen- o %| St Regis Paper.... 22 214 | ditures were about 23 per cent less than 113 | Salt Creek Prod (1) 4, | for the previous year. | Segal Lock & Hrd. ‘The drop, it was said, was due almost Shenandoah Corp. . entirely to a decline of nearly 437,000 Singer Mfg Co (6) .. 10, in the number of automobiles crossing ou Cal Ed pt B 1% the border on 60-day permits. This SouCalEdpf C 1% class of tourists cars regularly accounts Southland Roy 20c. for about 75 per cent of all such expen- Southwn G&E pf 7. 1 47 | ditures in Canada, Stand Oil Ind (1).. 187 | . Conversely, Canadian tourists in the 11 | United States spent about $39.000,000 151, | during the year, or 32 per cent less than in the previous 12 months. PR A 24,700 Workers Own Stock. NEW YORK, March 20 (#).—Approxi- mately 24,700 employes of the General Electric_Co. are holders of G. E. Em- ployes Security Corporation bonds with 3 a face value of $34,000,000. The cor- i~ Doration’s assets, it Wwas announced, were in_excess of $70,000,000 on De- 2 | cember 31 last, while the total value of 1'4 its own bonds outstanding and current 1% liabilities was less than $41,000,000. The 3% corporation is the largest owner of Gen- 5 81y 9Ty 21% 19% 4 Stutz Motor Car... 2 Swift&Co........ 19 Swift Internati(2). 3 Swiss AmerElpf.. 1 Taggart Corp. 1 Tampa Elec 2.24... 1 Tech Hughes (60e) 3 Technicolor. .. 1 1 6 9 8 4 1 3 1 Trans Lux DLP S, | "td Corp war. United Founders United Gas. . Unit Lt&Pwr (A). Unit Lt & Pwr pf. U S Finishing. US&Intl 1stpt. ., 2 US Play Card (1). 1258 Unit Verde Ext 40c. 1 1'z | shares, 20 124 | Unit Verde 2| CHICAGO DAIRY MARKET. Ut Equities pe s34 300 30" | CHICAGO, March 20 (P).—Butter— e . | Receipts, 8204 tubs, firm: creamery Camnhle( e X |specials (93 score), 1815819%;: extras p Pak pf.. % | (92), 18%; extra firsts (90-91), 17%; Walgreen Co (1) 18% firsts (88-89), 17!>; standards (90 alker (Hiram)., .. 51, | Centralized carlots), 18';. Eggs—Re- 81, | Ceipts. 30,814 cases, steady; extra firsts, yne Pump. 2 s, 13: fresh graded firsts, 12%; current | Wenden Copper- ., & recelpts, 11%. Woolworth (F W) | Ltd (p24 2-5c). .. 13% 134 | Dividend rates in dollars based on last | nuarterly or semi-annusl payment. °*Ex dividend. fPartly extra. iPlus 4% in stock. 11,1 8 Pavable in cash or stock. b Payable in e Adjustment dividend. fPlus 8% in stock. gPlus 6% in stock. hPlus 1% in stoek. 1Plus 2% in stock. Kk Plus 10 % in stock. n Plus 8e o re —_— . Trade Pick-up Noted. CHICAGO, March 20 (£ —The Chi- c2go Association of Commerce reports that the past week in this area was characterized by a steady pick-up in | wholesale and retail trade, expectations of improvement in the steel industry and a slight rise in operating capacity for local mills. w3 A—15° CURB SHARES FIRM IN SMALL TRADING Market Unaffected by Sag- ging Tendency in Some of Leaders. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, March 20.—Firm from the start, today’s Curb Exchange ses- sion steadily moved forward, though volume of trading was the smallest ;ince the market reopened last Wednes- ay. The stres of the list was all the more r because public utilit) nng petroh:-h es, which rank fi and secon point of volume, were inclined to eoftness. Then, too, the curb, unlke the big board, has few carrier shares. Electric Bond & Share around mid- day was unchanged after being frac- tionally higher at times. Citles Serv- ice was also virtually without change, as was Standard Oil of Indiana. ls)g];:‘d‘m Ol of Ohlo was down a half Columbia Gas & Electric convertible preference quickly erased its opening decline as the Street read the detailed annual report of the company, which was better than expected. Driver- Harris yielded more than a point. Celanese Corporation preferred, mirror- ing the slackened pace of rayon output, dipped to a new low for the year. Declaration of the regular common quarterly by United Verde Extension 13 | eral Electric Co. stock, holding 495,192 | P8 Mining had been discounted a session |8go. Trans-Lux Daylight Picture Screen | Corporation pald little attention to the | announcement that plans had been { completed for the reorganization of that firm and for a merger with News | Projection Corporation which will termi- “nlbe‘ litigation between the two com- nies Production of polished plate glass in February was reported as 4955293 square feet, against 6,188,263 in Janu- ary, which had been discounted several sessions ago by Pittsburgh Plate Glass. CONSTRUCTION AWARDS. NEW YORK, March 20 (#). — Post= ponement of many awards because of the banking holiday held the volume of engineering constructicn contracts awarded in the week endeu “farch 13 to $8,339,000, against $18,078.000 in the previous week, says Engineering News Record. PARIS BOURSE PRICES. PARIS, March 20 (#).—Three per cent rentes, 73 francs 45 centimes; 4'3 | per_cent rentes, 88.15 | Exchange on London, lar quoted at 60. The dole STATEMENT OF THE CONDITH OF THE o NEW YORK UNDERWRITERS' INSURANCE CO. OF 100 WILLIAM ST, NEW YORK, N. Y. On the 31st day of December. 193! irea 7 ot ST Law for"the Disirict of Ootumbia. 0% TYLER & RUTHERFORD, Inc. INCOME. Net premiums E 5 Total interest and rents Other income . = Total income 13 of Law for the Dist Midl West Utllities ESTABLISHED 1872 STATEMENT OF THE CONDITION OF THE CALIFORNIA IN ANCE COMPANY OF SAN FRANCISCO, CALIFORNIA 0d ict of Columbia. INCOME. Net premiums Total income Nat Bellas Hess... 49 = Dividend Meetings. : NEW YORK, March 20 (%) —Divi-| dend meetings are scheduled for this! week by directors of Alaska Juneau,| Corn Products Refining, Howe Sound. | Reading Railroad, Pacific Lighting and |, United States Smelting. Refining & | Mining Co.'s among others. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) 1 | DISBURSEMENTS. Net amount paid policy- holders for losses .. ... All other disbursements. .. Total disbursemen stocks 1 company's s in bapks . . ot balances e est and rents due or accrued . SR AL other assets.. office. Gross assets G $7.6 Deduct assets not ‘admitied 17 Total admitted assets. REAL ESTATE INSURANCE LOANS DIS > Net amount Dpaid Dol holders for losses ... $918.960 ALl other disbursements. .. B G ARd Total disbursemer 53, ASSETS. Bon, d stocks 3 Cash_in company's’ office.. Deposits in Danks ....... Asents’ palances .. Interest and rents due or accrue All other assets Gross assets Dedyct assets not ‘admi Total admitted assets..S$5.006,013.43 LIABILITIES, U. 8. TREASURY CERTIFICATES " | wheat and at least a moderate advance (Reported by Chss. D. Barney & Co.) oy 3 Chi & NW 43,849, Chi RT&P gn 45 '88. Chi RI&P rf 434, o ChiRT&P4 SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co.) Offer. Allis-Chalmers Co. 53 19: 70 Ameri Co. 8 54 it 86% 95 a4 98 8% 95 754 aR1L er, & Rio Grande 4135 1 e 0 rande 412 4 3 ec. Tlum. 45 1939 5 2 s |Con P Jap 6%s s Childs deb 55 '43 Chile 6560 Chile 6261, .. Chile 6561 Sept. .. Chile Cop db 5s @ Chile Mtg Bk 6361 Chi Mtg Bk 6145 57 | €in Un Trm s 2020 | Clev Ter 53 = Cologne 6128 50. ., | Colemb 6561 Jan. . | Colomb 68°61 Oct.. . | Colo & Sou 4355 '35. Colo & Sou 41480 Col G&E 58 '52 May Col Gas&E § Com Inves 514549, Con G NY 41851, Con G Con G NY 518 | Con Pow Jap - Copenhag 4% s '53. Beo TR -P) Penn 4%s63. .. Penn gen 5568 Penn 6% s Penn P&T. 413581, Peop Gasref 5547, Peru 6s°60. . - Peru 6s°61. Phila Co 556 Phila Elec 4<71. .. Phila & Read 6549 Phillip Pet 5145’39 Poland 6s°40. ... Poland 7847 Poland 8= '50 o Port Gn El 114='80 Pos Tel & C 58'53. . Pub Sv G 4158 Pub §v G 4165°70. . Pure Oil 514540 Queensland 6s47. . Queensland 7s'41.. Read 4158 A "97.... Rem Arms 63 A "37, Rhinelbe T Rhine West 7 '50. Rich Oil Cal 644 RioDeJan ext 854§ R Gr do Sul 65'68.. Rio Gr W clt 45'4! RIAT& L 4%s 34, Rome f158°52. ..., Royal Dutch 4s'45. 101 101% 67 527 53 60 22% 7014 1214 35 2% 84y is assured. Textiles. Douglas G. Woolf, Textile World— ‘The outlook, so far as can be judged at present, is for maintenance and 4% | strengthening of existent levels. There 2.2 |1s, of course, fear of too great a speculative influence which would be | followed by sharp reaction. But, if the ground, there is logical basis for the expectation that the remarkable renewal of public confidence will re- | sult in greater buying activity and consequently firmer price levels. David Clark, Southern Textile Bul- | letin—The cotton textile industry now |has the smallest stocks of cotton goods in 10 years, and should a buying movement result from an improvement {in farming conditions, a very active period of operations would exist. Department Stores. i C. K. Macdermut, jr, Dry Goods | Bconomist—First steps toward cor- rection of fundamental evils have been taken but they are c I’ first steps, and are not quickly .r. ~latable into | terms of business improvei: nt. Gains 'will be made while enthusicsm lasts, and then there will be somc recession. i _ Julien Elenbein, Haire Business Pub- lications.—Everybody in our fleld thinks that it is too soon to notice a definite trend but raw material mar- | kets seem to be fairly firm and the rices will rise sellers and buyers keep their feet on | Nominal gold Selling checks value. 10 Sales in Egges :gn:uc-,v. 2 29938893 EEN 'DOMESTIC BONDS. ay. $344% p Capital paid up Surplus over all liabi Tokal' oo portation .. Tornado, wind- storm’ and cy- clone Hair . Sprinkier ‘leakage e plcsion High. Low. Noon. e 68 68 68 Al other—Flood. T. D. RICHARDSON, R. L. TANNER. Secret. Notary_Public. No. 1053. 105: Reg’ No. 1 pires March 3( OF THE DURING District of 64. Vice President. ary. Subscribed and sworn to before me this_23rd day of February, 1933. (Seal.) CHARLES R. EN( IGLAND, RELIANCE INSURANCE COMPANY OF PHILADELPHIA Kings Co. No. 143: Reg. Cert. filed in N. Y. Co.. No. E-52. Commission ex- STATEMENT OF THE CONDITION CHARLES G. WARDEN, President Net unpaid claims 2 Total unearned premiums. Other liabiities e apital paid up. Surplus over all 066,815 43 ITTEN DURING THE YEAR. R. BRUCE WARDEN, Vice President District of ColumbL: W. C. H. HAGERMANN, Secretary 13.421.00 WALTER M. HEBB, 8843919 Asst. Treasurer Sprinkler ‘leak- age 2 2.659.58 Riot. civil com: motion and explosion_.. . All other—Filood C. F. RUPPRECHT. Asst. Secretary. Subscribed and sworn to before me this 21st day of February, 1933 (Seal.) THOMAS F. HEALY. Notary Public. Queens Co. No. 7R0. Ce: flled in N.' Y. Co. No. 690, Reg. N 4H401. Commission expires March 50, 1520 K St. N.W. NAtional 0475 STATEMENT OF THE CONDITION OF THE LLOYD'S INSURANCE COMPANY OF AMERICA OF NEW YORK On the 31st day of Dec as required under Section 647 of the Code STATEMENT OF THE OONDITION OF THE UNITED STATES BRANCH OF THE NORTHERN ASSURANCE COMPANY, LIMITED, OF ENGLAND ber, 19: 86%° prediction _is _that 48y ' slightly. Everybody certain that 10% they will not go any lower. On the 31st day of December. 1932 required under Section 647 of the Code of Law for the District of Columbia. of Law for the District of Columbia. INCOME. Net premiums StL IM R&G 4533 Cuba R R 1st 58 '52 48’ StL&SF 4%8'78. ] On the 31st day of December. 1 ) 8 : 032, Fequired ‘under Section 843 of the Cods 29999 3 G . & Power 55 1 St R Cor B 1930 Washington S;ock Exchange SALES. Electric 5% % pld.—2 at 105. Lagston Monotype—10 at 40, 10 at 40, 10 at 40, 10 at 40, 6 at 40. AFTER CALL. Washington Gas 5s '60—$500 at 103. Potomac Electric Cons. 5s—$1,000 at 103, $1,000 at 103. Washington Rwy. & Electric 45—8$1,000 at 88. Admitted for trading tomorrow—Mer- genthaler Linotype, Woodward & Lo- throp com. and Woodward & Lothrop ptd. Bid and Asked Prices. BONDS. PUBLIC UTILITY. er. Tel. & Tel. 4'as Tel. & Tel. cil. tr. ncosuin & Pot. KR City & Suburban 85 Georgetown Gas 15t Bs. Potomac Cons. 5% Potomac 1953 Wash. G . Ga: jash. Ga: Wash. Gas Wash, Rwy. series A. 6s, series B! & Elec. 4s. MISCELLANEOUS. .. B34S, . g er. Bromo-Selz. 3 nston Monotype (6) ...'. 40 Peoples Dru Stores pfd. (6'a) 63 dividend. ks closed. o Cuba Nor 51, Del & Hud ev | Denmark 5135 " Denmark 6s 42.... Denver Gas 5s'51.. D& RGrcends'3 Det Ed 4%sD'61.. Det Edison rf 55'49 Det Edison 5855 . Dodge Bros 65°40.. Duquesne4 s sA'67. | Duquesnes 14 s! | Dutch East I 6s : Fast C Sug 7 Frie gen 4s Erie ref 5 | Erierets Fiat deb 7s "4 Finland 548 Finiand 6135 | Fla E Coast 5s . | Fram Ind 748 "42. French Gv 7s 49 French Gv 715841, Ger Cen Bk 63 60 0 Ger Cen Bk 75 '50. . Ger Gov 515 '65 German Rep 7s°49. Goodrich s " Goodrich 6158 "47. . Goodyr Rub 55'57. . Grand Trunk 6s'36. Grand Trunk 75'40. Gt Brit&Ir 5135 '37 Grt Nor 4145 E'77. Grt Nor gn 78'3 Haitl 625 . Hudson Coal 5s'62. Hungary 7338 ’41.. 11 Bell Tell 63 11l Cent cl tr 4s°63. 111 Cent 438 66. . . 111 CCStL&N 4145, 111 CCStL&:! “A.. 111 Steel db 412540, Inland St 4125 A'78 Int Rap Trr Int Rap Tr 6s .e Int Rap Tr7s'33.. Int & Gt Nor 6s'63,. N b BarwlRomno cannan Baw and- i Taiwan E P 5128'71 StL SF 4148'78ct at StP&KCSL 415541 Sao Paulo 75 '40... Sao Paulo 8s°36 Saxon P W 6% Saxon 78°45. . Seab AL4s st ct'50. Seab A L 68 A 45 Serbs-Cr-S178'62.. Shell U Ol1 65'47... Shell U O 58’49ww. Silesia Prov 78 '58. Sinc Oil T8 A '37. Skelly Oil 5158°39. Solvay Am 5¢'4 Sou Bell T&T 5s'41 Sou Pac 415868 .. SouP 412869 ww. . Sou Pac 41 '81. o = 1S9 » EeNanSecomane Somasan Sou Ry bs '04 Sou Ry gn 65 '56. Sou Ry 614s'56 Sou Ry M&O 4x'38. SW Bell T 5 A '54. St Oil N J b= '46 St Oil N Y 435851, Studebaker 6s'42. . Sweden 5158 '54. Swiss 514846, SoamBan 2352 Tenn Cop 6s B'44... Tenn EI P 65 A "47. Tex & Ark 51535'50. Tex Corp cv 55 '44. Tex&P 1st 53 2000, Tex & Pac 53 B'77. Third Av rf 4'60.. i 5960, 6%8 2022 Tokio 5552 . Tokio El Lt Union El L&P 58’57 Un Pac 18t 48°67.. Un Pac 4368 Un Pac rf 48 2008.. Un Pac 43%s'67 Unit Drug 58°'53. U S Rubber 58 °47. . TUnStW 6lss A'47. Un St Welas A'51. Tn St W 612% C'51, Uruguay 6s'60 Uruguay 6s'64.... Util Pw s .. 81 ‘Vanadium 8t 6s'41.. 26 =% arnmBanawn~ 351 554 20 54y 5815 5% 70 70% 43% 961 63 92 103% 45 43% 43 63 23 62% 25 27% 25 K 106% 103% | Shoes and Leather. A. H. Lockwood, Shoe o&x&d le;:‘her Reporter—Higher commodity ces. lrepol‘;ltevlublg Even moderate infla- .tion of the currency forces price e pcrsan, berin. upen he st 1 has 1m g - were too drastic to ent. Any changes from the existi average will | be up, and not down. Automobiles. Julian Ohase, Chilton Co.—There seems to be no disposition among passenger car manufacturers to change prices that were fixed, as usual, in , January. The desire of the industry 'is to maintain the price structure ap- | proximately as it is, with the hope of Jifting prices eventually to more profit- able levels. ” Quarterly Dividend. Chemical Bank & Trust Co. of New York has declared the regular quar- terly dividend of 45 cents, payable April 1 to stock of record March 25. J I Bank Reopenings. CHICAGO, March 20 (#).—The Iili- 28| nois Chamber of Commerce has an- 97 8% Yokobama 63°¢1.., unced that bank reopenings in nearly xllt‘)’l'l cities in the State during the past week served as “an immediate for a turn for the better in business.” Sales. High. Low Close. Va EI&Pwr5%s'42 1 1013 101% 101% | va Ry & Pw 5s'34. 16 100% 100 100 VaSWistcnsss8. 4 46 46 46 W 7 ‘Wabash 5%8°75. 7 ‘Walworth 65 A "45. 12 *39. 1 ‘West Sh West E1 db 55 '44 ‘West Md 1st 4: West Md 5% West Union 555 West Un 614536 Westphalia 65’ Wil & Co 1st 6541, @ ow sl aieanunnaacn Ygstn S&T 58 A'78. 13BN 1B b e BT fiiEg a. 33 2SR o> tis o % % 9 0 109 1923 89, o " g = Fol 3. < 2 e Ta 4 o iy q, znaaw;a—-w—t:nn—nm z222zzagE Fugtid 2] 5 ¥ogs 255N <t 82 e 5, BB I A Db D o Pac Penn DW P&L blas E 55 D '55 1001 100 6s ‘40 cod 4% 34z 3 4 08 08 i 106, 105% % 69Ye 68%2 77 77 o i 33 ot euascess 3 o o1l & RO cic ERERE ottt et g2 pizi e OO0 b {3egpac INCOME. Net premiums .. : Total interest and Other income . : Total income . DISBURSEMENTS. Net amount paid policy- holders for Josses "r.+.. ALl other disbursements. Total disbursements ABSETS. Real estate Mortgage loans on real’ ate . Bonds and 'stock: Agents' balancy : Interest and rents’ due’ or accrued .. 3 A other aisets Gross assets . eoces Deduct assets not admitt ‘Total admitted assets. . §: LIABILITIES. Net unpaid_claims Total unearned premiums her liabilities . ... pital peid up .. rplus over lal NET PREMIUMS WERITTEN DURING mre . $150.8: Motor " vehicles 1161 jual z Forhads, pini 28 other—Alrcraft. Colfers coveeen 8,524.50 207.65 $233,302.73 $110.687.58 174.410.20 $285,097.78 Total interest and rents. Other income Total income cee S ISBURSEMENTS. Net a s holders for” losses. .. .. Al other disbursements. Total disbursements Real estate T . llull age loans on real es- anh I| and st S S gl $23,142.25 9.875.00 6.660.75 Distric of Total Columbla 26 $1.67 4 14.86 485.72 3.78 12331 $171,901.33 $96.08 O. E. LANE, President. A. 1. VOB, Secretary. Subscribed and this 23rd day of February, 1 (Seal) EDWARD G. GRI 1037, sworn_ to_before me FFITH. Notary Public: My commission expires February 17, 1045 ‘Total admitted u’nu LIAB uhpaid claims. . Total unearned pre Other liabilities B Cupital paid uj < Surplus over all ilabilites Other liabilities Capital 5 Surplus’ over all Lablities District of Columbia. 00 t wiass’ . 8035558 R 12.01 ] 380.576.23 19.538.18 3,079.70 842/696.24 799,813.16 $20,456.48 R. K. MENEELY, Vice President. ©. H. MAHAN, Asst. Secretary. Subscribed and sworn to before me this 24th day of Pebruary, 1933, (Seal.) R. F. BAXTER, Notary Public, Queens Co.. No. R, Reg. No. 4150 Cert. filed in N. Y. Co.. No. 1492. Reg No. 4-B-941. Commission expires March 30. 1934, Net Tota Other income . Net amount paid & holders for Tosees o< g0 All other disburseme: Agents’ balances . Interest and rents’ e accrued ... Al other assets Net unpaid claims Fire Ocean " mar} Motor vehicles. Earthquake . Inland navi on .. Tornado, Sprinkier BRIk ctvil” éome Al Gier this 24th day of February, 19: Notary Public. Kings County. Clerk's No of Law for the District of Columbia. INCOME. remiums . .. ... 8 interest ‘and Total income $4,258,598.50 DISBURSEMENTS, Total admitted assets. LIABILITIES, otal unearned paid u statutory deposit. Total . NET PREMIUMS WRITTEN DI s URING District of Total Columbia. oo ...$6,027.493.95 $13,278.26 WI17IT 184300 4073679 Lo, gas tion and transpor ta- 836,395.13 415.01 wind- storm and eyclone 277,493.10 0,746.53 *98.02 312 motion and | 070 43832 o250 595,221, v oCredit, 7, 03 $15.513.96 R. P. BARBOUR. U. 8. Manager. Subscribed and_sworn to before me (Seal.) VIOLA C. WHALEY, Certificate filed in New York County: Clerk’s No. 915. Commission expires’ March 30, 1933,