Evening Star Newspaper, March 23, 1933, Page 14

FINANCIA 'HE_NEW._ g{pogm' STOCK EXCHANGE | |STOCKS GO HIGHER IN-LIGHT TRADING | Closes Steady After Losing | Some of Gains During Day. — id ' Yesterdar's \ Yesterda, Stock and ghuev- 100~ stocks Dividend Bate, Add 00. High, *Ra High. Low. Rate, Thatcher Mfg Co... . B 2% Va hron Ceal& Coke. 20% 12% Vulcan Detinning 1% Wabash pf (A) 1 Walworth Co 2% Ward Baking 1 Warn Bros Pictu 4% Warner Bros Pic Adams Express 10 Adams Millis (2) 7% Affiliated Prod 1.20. 47% Afr Reduction (3).... 11% Alaska Juneau(60c). 1 Alleghany Corp. 1% Alleg Corp pt ‘lb". 70% Allied Chem & D (6).. l!l'A ll:fli Allled Chem pf (7). fncrease of $46,412 Re- rted for February ¥ ©ver Year Ago. 5% Thompson Products.. 27 Tide Water Assoc pf, 1% Timken-Detroit Axle. 18% Timken Roller Bg(1) 2% Transamerica Corp.. 2% Tri-Contl Corp. 20% Trieo Products(2% BY EDWARD C. STONE. 19% Union Carb & C (1 otal net income of the Potomac ectric Power Co. in February showed gain of $46,412.41 over the corre- BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, March 23.—Rallying ; 49% Am Can (4)... 6% Am Car & Foundry. nding month a year ago, according the ancial statement led today with the Public Utilitles Commission. The Dompmys net in- ‘tome amounted to 38,522.03, com- pared with $392,- -§09.62 in the like 932 period. % Operating reve- ues totaled $951,- 81.65, ¢ om pared vith $925,366.09 a 18 Am Comc’l Alcohol. o 3% Am & Foreign Pwr. 6% Am&Forgn Pw pf(6). L 9 Am & For Pw pf (7). 5% Am & For Pw 2d pf. 4% Am Haw Stship (1) 29% Am Home Prod 4.20.. 3% Am Ice Co. 4% Am Inter: 5% Am Logomot1 8% Am Mlchll'dy(lflc) . 4 Am Power & Light. 11 Am P&L $5 pf (1% 12% Am P&L $6 pf (1% owoantanmnueRanlifnspa Y (19 FRFERFELESRFES - 10% Illinois Central. % Indian Motor Cycl % 27% Industrial Rayon (1) 19% Ingersoll-Rand(1%). 2 Inspiration Copper. . 2% Insuranshrs Del 15c.. 4% Interboro Rap Trans. % Int Agriculture. . 76% Int Bus Mach (6). 2% Int Carriers Ltd 20c. 6% Int Cement..... 3% Int Combustion pf. 13% Int Harvester (60c) 3 Int Hydro-Elec (A). 6% Int Nickel of Can. 21 Int Paper pf.... BnuavuBupna~S wn Gy QuwamaBam 23% 13% U S Smtg & Ref (1 43 39% USSmig&Ref pf3% - HeppssgeSrre 2 poxs 11% Westing’se Air B 19% Westinghouse Elec. . 60% Westinghse 1st (334) 12% White Rock M S (2) 2 Wilcox Oil & Gas. % Willys-Overland % Wilson & Co. 34% Wrigley (Wm) (3) 4% 2% Yeltow Truck... 7% Youngstown Sh&Tn. 5% 3% Zonite Product: Sales of Stocks on New York Exchange. vigorously, stocks opened sharply higher today on active trading, turned quiet, canceling a good part of their ns, and closed moderamy ‘higher. o Commocities went through a similar series of fluctuations, but they held their gains better than stocks. The % | net result was decidedly encouraging. Rails were leaders in the stock mar- ket and the utilities were laggers. Farm stocks were strong most of the time. %| Wheat closed over a cent a bushel S higher. The only exception to the trend in staples was another reduction in the price of lead. -4 8 88w ear ago, an in- rease of $25,915.56. Operating revenue ‘deductions required $452,937.30 in COM- Charles W. Clayton. parison with $469,- 015.95, a reduction in expenses of $16,- p78.65, leaving net kgxtoerdég%sfi:nu‘e: f $498,344.35 agal ?ncr‘ense of $41,994.21. Miscellaneous 109% 94 Am Tel& Tel (9) income during the montk: showed an| 63% 49 Am Tobacco (5). increase of $3.80322, while gross re-| 65% 50% Am Tobacco (B) (5). vealed a gain of over $45,000. 117 102% Am Tobacco pf (6)..: For the first two months of the pres- 5 Am Type Founders. t year operating revenues brought in 11% Am Water Works(1). 7,976,072.63, compared with $1,996,- 10% Am Wat Wks ctfs(1) 07.82, & drop of $19,935.19. Revenue 3% Am Woolen, ductions took $936,396.90, against 22‘* :m“m;lfl(\:vf. 972,203.77 & year ago, a reduction of naconda Ol;ze\' more than $35000 in operating ex- 111% Anchor C;rh(] ; x) enses. ‘This left net operating reve- % Armour o ). 10:30 A.M. -« 260,000 12:00 Noon...... 580,000 Alaska Juneau declared the regular 1:30 P.M X g . 760,000 | divizend on the capital stock. D‘Tfi" Tates as stven In the rt:xbl'i" ufll.‘ are ;lh, ual cash | mBuymz orders l;‘:)cded lme market at Ppaymen! sed on tl qua; or half-yearly rations. | the opening, with resulting advances 'SRt of sroding jess than 100 barcs. 1oy PATUY extza S PIUS | in the active stocks of 1 to 3 points. ] 4 in stock.” aPald this = 1% £ % fea™ & zl’anblep}n can o e s Jate. bEATable,S | For a brief time the tape was unable 5% + 74 | 2% in stock. 3 1 in special preferred stock. k Plus 3% in | to keep up with business on the floor. 7 S Eeania, ot Tt DT R R e | A number, of large blocks came out Among the more important advances vs':::' tl];g:% i? :lmem:an ‘Telephone, corroratio| \IRGNA TOBACLD fErEmE REPORTS i i e s e NEW YORK, March 23.—Increased | from 1 to 2 points. 1C ed IN REASE :?&ng in wholes;lye mm . rxl!_\l:-\;; imx:i,soo ihm?eas11 at 48, up ;Ee %x:u presaged {In the railway list Union Pacific, New TRENDS AND PROSPECTS OF of a substantial number of buyers, ac- | York Central and Lackawanna were LEADING ORGANIZATIONS. cording to trade observers. Resident | sharply higher and Norfolk & Western, buyer offices report a pick-up in mail | opening later than the rest, was up 2% Int Paper & Pwr Df, . 15% Int Salt (1%). 9% Int Silver... 24% Int Stlver pf.. 5% Int Tele & Tel 23% 12% Johns-Manville. 62 50 Johns-Manville vl. .. 408 50 85 Jones& Laughpf(l) 10s 11 6% Kansas City Southn., sE werrrssred 59 U S Tobacco (4.40). % % Univ Pipe & Rad..... 4% 2% UtilPwr& Lt (A)... —_— ) % Vadsco Sales Corp, .. 14% % Vanadium Corp.... 5% 3% Va-Car Chem 6% pf. 85% 75 Va Elec&Pw pf (6). Pttt |4+ L bbbttt b4+ 4 ey Am Sm & Ref 1% b 32% Am Snuff (13%). 4% Am Steel Foundry. 2 =§..,§a. 2 se5e 2"Fryss oo N s R A 3 » @ - ik ® - * * 11% T% Kennecott Cop] 10% 5% Kresge (SS).. 19% 14% Kroger Grocer 341w 221 Lambert Co (4). 6% 3% Lee Rubber & Tire 2 45 84 LenPortCmtpf3l%. 100s 14% 8% Lehigh Valley RR.. - - S FEEEE - P4+t - ‘nues of $1,039,675.73, compared with $1,- 23,804.05, an increase of $15,871.68. A gain of $6,016.41 was reported in iscellanequs income, while gross was p $21,888.09. Other usual deductions re $2,232.79 more than a year ago, ving a total net income for the two onths of $918,255.43, against $841,- 34.56, or an increase of $24,120.87. Clayton Re-elected Credit Head. Charles W. Clayton, secretary of the . P. May Hardware Co. of this city, nd one of the outstanding figures in Washington credit circles, was re- elected to his eighth successive term as president of the adjustment bureau of e Washington Credit Men's Asoscia- un, Inc, at a special trustees’ meet- Lism T. Watts, credit executive of the Standard Oil Co. of New Jersey, and g former director of the National Asso- ciation of Credit Men, was re-elected @s vice president. Waldo J. Tastet, official and director of Fries, Beall & Sharp Co., was reappointed treasurer of the bureau, and A. L. Birch was named_secretary-manager. Mr. Birch, formerly a Washingtonian, has been in the New York headquarters of the Na- tional Asosciation of Credit Men for the past four years. The Adjustment Bureau's trustees in- ‘tlude E. A. Brown, Charles W. Glayton, A. R. Glass, R. M. Harper, Louis M. Hewlett, George W. Huguely, G. H. Markward, C. H. Pope, John A. Reilly, Waldo J. Tastet, Lister T. Watts and F. W. White. Railway and Electric Net Up. According to the monthly financial statement of the Washington Railway & Electric Co., filed today with the Public Utilitles Commission, operating revenues in February totaled $323,480.46 against $385,213.38; operating expenses and taxes required $303,005.59 in com- ;ar\son with $338,960.49 in February, 932, leaving a net operating income of $20,474.87 against $46,252.89. Non-operating income totaled $473, %09.96 compared with $443,520.78 a year ago. Gross less taxes and operating expenses reached the sum of $494,- 184.83 compared with $489,773.67. De- ductions took $54,216.15 against $54,- 025.71 a year ago, leaving a total net income in February of $439,968.68 com- pared with $435,747.96 in February, 1932, an increase of $4,220.72. The railway company also filed its report for the first two months of the present year, showing operating reve- RQues of $679,790.07 against $788,656.98 a year ago. Operating expenses and taxes amounted to $631,939.62 compared with $693,966.64, leaving an operating income of $46,850.45 1!) . comparison Wwith $94,690.34 a year ago. Non-operating income amounted to $406,773.10 against the mmuch lower fig- ure of $467,282.20. Gross, less expenses end taxes, totaled $549,623.55 compared with $561,972.54, while the usual de- ductions called for $108,448.96 against :108 ,052.87 in the first two months of Following these deductions, the com- pany reported a net income of $435,- 17459 in comparison with $453,919.67 last year. Local Dividends Are Declared. Directors of the American Security & Trust Co. have declared a qunmrly dividend of 2 per cent, payable on April 10 to shareholders of record on March 31. The Carpel Corporation, a local food distributing concern, has declared a dividend of 25 cents per share, payable April 1 to stockholders of record March 25. 6% 3% Baldwin Locomot...1 % Armour of 111 (B) 7 Armourof Ill pf. 1'% Arnold Constable ETT IS TP NSUPPPQ-J 1oy P93P PP aerern Bty 12% Atlantic Refining(1). 81% Auburn Auto (2)..... 5% Aviation Corp (Del » 8% 15% 9% Baldwin Locomot pf. 12% Baltimore & Ohio. 15% Baltimore & Ohio pf. Bamberger pf (6%) Bang & Aroos pf (7 ‘Barker Bros pf. Bendix Aviation Best & Co Bethlehem Borden Co (1.60) Borg Warner. Briggs Mfg Co.... Bklyn Manhat Tran.: Bkliyn Man Tr pf (6). Bklyn Union Gas (5). Brunswick-Balke. ... Bucyrus-Erie. . . 4 Bucyrus-Erie pt (2).. Budd (EG) Mfg..... Budd Wheel. Bullard Co. Bulova Watch. 614 Burr Add Mach (40c). 1 Butte & Superior 815 Byers (AM).... 7% California Packing. 2 Calumet & Hecla. 2 Campbell-Wyant Fy. 7% Canada Dry G A (1). 7% Canadian Pacific. 30% Case (JI) Co.... 40'% Case (JI) pf (4). 51 Caterpillar Tractor 414 Celanese Corp. 14 Cent Aguirre (1%).. 5% Cerro de Pasco. 24% Ches & Ohlo (2%). 147 Chesapeake Corp (2)., % Chi & Eastern I11 pf.. 1% Chi Great Western. 3% Chi Great Westn pt 1% Chi Mil St P & Pac. 1% Chi Mil StP & Pac pf. 3 Chi & Northwestern.., 5% Chi & Northwest pf. 2% Chi Pneumatic Tool., 5% Chi Pneu Tool pf. 4% ChiR I & Pac 7% D! 6% Chi Yellow Cab (1) 7% Chrysler Corp'n T4 City Ice & Fuel 73% Coca-Cola Co (7). T3 Colgate-Palm-P ( 3% Collins & Alkman. 4% Colo Fuel & Iron. 10% Columbia Gas (b1 59 Columb Gas pf A(6 6% Columbia Pict vtc. 23% Columb Carbon (2) 4 Commercial Credit. .. 18% Comcl Cred pf B (2). 18 Comel Inv Trust (2). 84 ComclInvevpf(es), 9 Comcl Solv (60c).. 1% Comwlth & Southn. .- 23% Comwlth & Sou pf(8) % Congol-Nairn (60¢).. 5% “onsol Film pf. 42% Consol GasN Y (4) 90 Consol Gas NY pf(5), 2% Consol Laundries. 5 Consol 01l Corp. 1% Cons RR of Cuba pf. 3 Contl Baking (A) 36 Contl Baking pf (4).. 35% ContlCan (2)....... 3% Contl Diamond Fibre 12% Contl Insur (1.20). 1% Contl Motor: =R saze e sReFrers prs¥es? N T e 47% 387% Lehman Corp (2.40).. 1 3 14 Lehn & Fink (2) 4% Libbey Owens Gl .. Liggett & Myers(15). 9% Ligg & Myers B (15). 10% Liquid Carbonie. 8% Loew’s Inc (1).. 10% Lorillard (P) (1. 21% Louisville & Nash 213 McCrory Stores pf. .. 18 MclIntyre P M(11%). 443% McKeesport T P (4). 1% McKesson & Robbins 3"; McKesson & Rob pf. 14 McLellan Stores 131 Mack Trucks (1). 24% Macy (RH) & Co (2). 7% Mallison & CO....... 6 Manhat Elev mod gtd T% Marine M1d1d (80c). . 4% Marshall Field & Co.. 2 Mengel Co 8% Mid Continent Petm.. 26 Mid Stl Prd 1st pf(4).7 1 % Minn Moline Pow. 5% Mo Kan & Texas 11% Mo Kan & Texas p! 21 Missouri Pacific. 315 Migsourl Pacific 7 Mohawk Carpet. 25 Monsanto Chem 8% Montgomery Ward 14 Mother Lode 7% Motor Produ 1% Mullins Mfg. . 5 Mullins Mfg pf. 1% M-rray Corp. . 11% Nash Motors (1) 4 Nat Acme Co. Nat Biscuit (2.80)... Nat Cash Reg (A)... Nat Dairy Prod 1.20 Nat Distillers. - ERIEFE F2 FRFE Lt b L db Lt bttt ++ S Ee 4 Nat Pwr & Lt Nat Steel (50¢). Lt bbbt +h b bbb S RTEFEER BPEE FEESES ——e l++++++ 14+ +4++1+11 FEFEPEEE F OFFEFEEF e EE Spes - 31, N CChi & StLpf. N Y & Harlem (5) NY Investors. . N Y N H & Hartford. NYNHG&Hart pf... N Y Ont & Western.. N Y Railways pf.... % N Y Shipb’ldg (1Qc).. N Y Shipbldg pf (7).: 20 17% Noranda Min (al1.10). 11 130 111'% Norfolk & West (8 83% 78'% Norf & Westn pf (4). 4 North Am Aviation.. 81% 17% North Am (b8%stk). 17% 10% Northern Pacific 4% Ohio O11. 1% Oliver F: 1% Omnibus Corp. 10% Otis Elevator(60c). .. 2% Otis Steel prpf...... 31% Owens Il Glass 31% 21% Pacific Gas & El (2).. 6 Pacific Mills..... 1% Packard Motor Car. 3% Paramount Publix. 3 Park Utah.... 3% Pathe Exchange . 19% Penney (J C) (1. fl).. % Penn Dixie Cement.. 13% Penna RR (h50c) . 49% Peoples Gas Chi lE) o 4% Pere Marquette pf... 6 Pere Marquette pr pf 4% Petrol Corp of Am... 4% Phelps Dodge....... 2% Phila& Read C&1 4% Phillips Petroleum. FA4 SReE NEW YORK, March 23.—Following is today's summary of corporation news prepared by Standard Statistics gro&.!nc., New York, for the Associated © Automobiles and Trucks. Studebaker Corporation — Independ- ent Protective Committee formed for holders .of common stock, with M. D. Robinson as chairman. Automobile Parts and Tires. Goodyear Tire & Rubber Co. cut tire | ices in line with prices established | competitors and will discontinue third and fourth lines. United States Rubber Co. reduced the number of its tire lines to three, includ- ing two high-grade passenger car tires and one quality truck tire. Building, Real Estate and Related Lines. Arundel Corporation chairman states | earnings in first quarter did not cover regular quarterly divideng for period. Food Products. General Foods Corporation 1932 com- mon _share earnings $1.97, vs. $3.44; reports that satisfactory earnings would be shown for first quarter if March held to levels of preceding, two months. Miscellaneous. Atlas Plywood Corporation deficit, six months ended December 31, $99,- 949, vs. deficit $129,774. Household Finance Corporation— President states that condition in each uarter will govern action on dividend e year; earnings in first quarter of 1933 are believed to have been sufficient | to cover dividends on A and B common stocks at rate of 90 cents a share quar- terly; company since first of year has| reduced bank loans about $1,000,000 to $12,250,000. oil. Associated Oll Co. 1932 net income | $3,434,727, vs. deficit $981,764. ichfield Oil of California—Receiver filed suit in Federal Court, Los Angeles, on behalf of stockholders of Pan-Amer- ican Petroleum Co. of California, a sub- sidiary, against E. L. Doheny, seeking damages of $12,600,000; Pan-American | Petroleum Co. recently was ordered to pay Government over $9,000,000 as a result of alleged Doheny-Fall con- spiracy. Seaboard Oil Co. of Delaware 1932 common share earnings 71 cents, vs. 10 cents. Railroads and Railroad Equipment. Chicago, Rock Island & Pacific Rail- way reported seeking Government loan to meet interest due April 1. St. Louis-San Francisco Railway to * | take steps toward erecunz readjustmem ped plan to $3,000,000 . loan, the I C. C. having refused au- thorization unless receivers assumed lia- % | bility for loans previously extended to company. Retail Trade. Interstate Department Stores Febru- ary sales off 20.9 per cent. McCrory Stores Corporation—Referee authorized trustee in bankruptcy to dis- affirm 55 of the 243 leases held by com- pany at time of bankruptcy. Steel and Iron. Cleveland-Cliffs Iron Co. took no ac- tion on preferred dividend ordinarily plyable March 15, 1933; last payment eferred was 5 cents a share, on Deeemher 15, 1932 Steel Co. of Canada, Ltd., declared iForeign Sales of Fire-Cured Product Mount 277,000 Pounds. By the Associated Press. RICHMOND, Va, March 23.—Al- though “total tobacco exports declined 11 per cent from December to January, exports of Virginia fire-cured tobacco | mounted from 515,000 pounds in De- cember to 792,000 pounds in January, Department of Agriculture figures showed here today. Total exports in January were only 28,400,000 pounds, 11 per cent below the usually small exports of December | and 44 per cent below the five-year | January average. As in December, the principal part of this reduced volume of exports was flue cured, which in recent years has repre- sented more than 70 per cent of the total Midwinter movement. Exports of flue cured for January were 21,300,000 pounds, compared with 22.- 500,000 for December. Kentucky-Ten- nessee fire cured also showed a decrease, 2,900,000 pounds in January, as com- pared with 3,200,000 pounds in Decem- ber. Maryland and Eastern Ohio fire cured exports dropped from 1,052,000 pounds in December to 469,000 pounds | in January. The movement in minor export types }showed little change from the level of | other recent months. orders. | almost 6 points. ‘The Credit Bum'.a‘ of Greater Eew York, Inc., reports that average collec- tions on retail charge accounts during Pebruary declined slightly in compar- | ison with the same month last year. In spite of limited buytn:. deale: Oriental rugs are maintaining the high- er prices on Sarouk rugs put into effect 10 days ago. . Price uncertainty and lack of in- formation regarding the future plans of the smaller producers are unsettling | factors in the evaporated milk industry, trade authorities report. Buyers are taking only limited amounts pending a clearer outlook. ‘The expected fise in broad silks has thus far failed to materialize because of continued ease in prices for raw silk. It is reported that mills are watching the stock goods situation carefully and ACTIVE IN FEBRUARY By the Associated Press. ‘The cotton-spinning industry was re- ported today by the Census Bureau to have operated during February at 95 per cent capacity on a single-shift | basis, compared with 95.1 per cent dur- ing January this year and 92.5 per cent during February last year. Spinning spindles in place February 28 totaled 31,088,382, of which 23,659.- Various reasons were offered for this | sudden change of attitude toward the | market. The signing of the beer bill, |the passage in the House of the farm relief bill and the proposal to refinance farm and small city mortgages by Gov- in | ernment aid, suggesting inflation on | a broad scale, were among the explana- tions given. More probably the mar- ket was oversold and the rally based on technical considerations. However, | the fact that commodities recovered as robustly as stocks gave some support to the inflation idea. After the first response, realizing made itself felt and a good part of the gain was canceled. The rails held their ground as a group better than indus- |trials. Among the features here, be- sides those already mentioned, were Delaware & Hudson and Pennsylvania, the former up 3 to 4 points. The Street was still of the opinion that the ad. ministration plan for railroad consoli- lm holding ecurrent production in | dation would be bullish on the stocks. | check. 'COTTON SPINNERS Beer Law Aids Timber Trade. FAYETTEVILLE, Ark., March 23 /) —Stave manufacturers said the re- turn of beer has caused a gain in the timber business in the Ozark region. | The staves are being used for beer kegs. | el i SILVER QUOTATIONS. NEW YORK, March 23 (P)—Bar | silver firmer, 33 higher at 277 | At Present Prices We Advise DIVIDEND SHARES | Prices for Virginia fire-cured tobacco | 100 were active at some time during the | at auction floor markets during Febru- | month, with the average, on a single- || F Information Upon Request |ary averaged 76 cents, compared with |shift_basis, being 20541551, compared || Ferris, Woodroof & Lewu, Inc.| .8.9 cents for Jnnulry with 31,254,598; 23,677,968 and 29,707,532 esment Secu |CHANGE IN ANTI-TRUST | | £racial Dispatch to The Star. BALTIMORE, March 23.—Modifica- tion of the anti-trust laws to the ex- tent that individual business might co- operate activities and do away with ruthless competition was one of six recommend>d to the Baltimore Asso- ciation of Commerce yesterday by Henry Harriman of Boston, presigént of United States. | six-point program, which has the ap- is the head, were a sound banking system, shorter hours for labor, restora- national, State and municipal budgets and the removal of unjust tariffs. need of ballnclng the national budget, year. The former, he said, was $1,5Q0,- tional income. The latter, he figured, was more than $14,000,000,000, or the equivalent of 30 per cent of our ‘national income. No nation, he added emphati- cally, could hope for an internal pros- perity when 30 per cent of its entire income was being consumed by Gov- ernment. BALTIMORE SHIPPING : LAWS IS ADVOCATED | points on the way to trdde recovery | 3 Am Badk Stock the Chamber of Commerce of the | 000,000 or about 6 per cent of our na- & 25,189,748 and 29, 312 ,083 for February In B for January this year, and 32. 232310 ||| wasbinston Building - 'un 5925 last year. Active spindle hours for February totaled 6,286,441,996, or an average of 202 hours per spindle in place, com- pared with 6,787,576,855 and 217 for Januery this year and 6,566,805,913 and 204 for February last ye: INVESTMENT TRUSTS NEW YORK, March 23 (#).—Over- the-counter market: Quotations as of 12 o'clock. Bid. Asked. 110 T130 The other items of Mr. Harriman’s = proval of the organization of which he | Gorp tion of agriculture, the balancing of B Mr. Harriman, in referring to the | N Nor Am compared the budgets of 190 and last Spe St. George’s Hospital, London, will celebrate its 200th anniversary this year. ANNUlTlES Profitable—Safe All Forms—All Ages WYNDHAM R. WlLLS Years' Experience ematty Bay | 5 | ‘WHETHER IT'S A First Trust Loan on improved Real Estate INSURANCE of any kind REAL ESTATE you wish to sell or purchase INVESTMENT in 1st Mortgage Notes or Rental Property you desive managed Consult Floyd E. Davis Co. 733 12th Street N.W. EFREES On the Washington Stock Exchange today there was one transaction in Potomac Electric Power 51, per cent preferred stock at 106. Washington Gas Light 5s, 1960, figured in a $500 turn- 4% Contl Oil (Del). 45% Corn Products (3). 23 Cream of Wht t23% 14% Crown Cork & Seal quarterly dividend of 30 cents on com- mon n.ock' previously 43% cents was distributed quarterly on this issue. Textiles. 1% Phoenix Hoslery. 1 Plerce Oil. 9% Pillsbury - SERVICE IS INCREASED over at 103. Hobson & Co., local investment house, ennounces that directors of Incorpor- ated Investors have declared a semi- annual dividend of 2, per cent, payable in stock on April 20 to stockholders of record March 28. B Financial District. Comment. 1% Cuban-Am Sugar. 10 “uban-Am Sugar 2% 1% Curtiss-Wright. 3% 2% Curtiss-Wright 1 Davison Chemical. .. 61 Deere & Co pf (20c).. FEFEF + b lEEE b 15% 143 140 Pitts F W&C pf (7) 24 15% Pitts United pf... 19% Proctor & Gam(1%) 37 Pub Sve NJ (2.80) Pacific Mills realized a small profit in first two months; for first 10 weeks of 1933 unfilled orders have run ahead of like 1932 period. ‘Tobacce. Porto Rican American Tobacco Co. 1932 deficit $102,787, vs. net income Special Dispatch to The Star. BALTIMORE, March 23.—An in- crease in shipping activity was noted in Baltimore during the last few days when two coast-wise freighters returned to service and the Potomac River Line announced acquisition of a second power 7 % 8% 37% Delaware & Hudson.. 2 3 3 Has s 17% Del Lack & Westn. .. 2 51% Detroit Edison (4). Det & Mackinac pf... George A. Harris, president of the Potomac Joint Stock Land Bank, is back at his desk after three months passed in Florida. He is greatly improved in 17% Dlamond Match (1).. health,. having practically _recovered 12 Dome Mines (11.30).. from his recent illness. 13% 10% Doug Alrcraft (76¢)« Secretary of the Treasury Woodin an- | 38% nounces an offering of $100,000,000 of | 43 E‘ day Treasury bills to be dated Maf¢h | 106 boat. The two muhun the Morgan A e CHICAGO DAIRY MARKET. |Line steamship EI Capitan and the Munson liner Mun Orleans. Inaugura- CHICAGO, March 23 (#).—Butter, | tion of weekly uxlgru betwem Balti- xocm easy; prices unchanged. Eggs, | more and Southern ports to replace Hl!: extra firsts, 123; fresh | semi-monthly vo; restora- mded. current 'receipts, | tion ‘;f.l gze Wmmm con- cern ‘The motor freighter Andrew J. uw added to the Potomac Ri has been Steel Tonnage Improves. line service which previously operated CHICAGO, March 23 (#).—Iron Age | the power boat Gladys L. from Balti- reports steel nbockked!ar the m&:retol’mmmmmnfilm&ltg; nate days. the acquisition o . n:w ml:flth company now offers a BALTIMORE magazine said, daily service, not_yet recovered from effects the bank and fects of Donc hd market holiday. but it Ylodked | DOLLAR GAINS AT PARIS. or mext.” PARIS, March 23 (#).—The Alur ican dollar closed on the U.\S. TREASURY BALANCE, today at 2345 trance, up 3% By the Associated Press. 8 Radio Corp. 6% Radio Corp pf (B)... 6 RR Sec Il Cent Stk. . 5 Raybestos-Man (60c) 5% Real Silk Hoslery... 2% Remington-Rand. 1% Reo Motor Car. & Republic Steel 9, 1933. Bids will be received at the] 102 easury up to 2 p.m. Monday, March 27. The issue is designated to provide for a maturing issue of $100,039,000. m:dmu(ncturers tglnunze g of Bllt.}; re declared e regul quarter] dividend of 433, cents on the 7 per cent 3% Elec Pwr & Lt. 21% 17% Royal Dutch preferred stock, payable March 31 to 10 Elec Pwr&Lt $7pf. .. 42% 28 Safeway Stores (3 stock of record March 24. 21 Elec Storage Bat (2); 88 173% Safeway Strs pg (6) Richman Bros. Co. has declared the 23 EngPSptww 5%). 22% 11% 6% St Joseph Lead. fegularly quarterly dividend of 75 cents, 4_ErieRR... 1% % St L-Sap Franci: yable April 1 to stock of record March 1% _ % Schulte Retail Stores % % EalEpankss MONe: 20% 15 Seaboard Ofl (150c).. Of, 388 Federal Reserve member 18% Eifelity-Ehioen 1. 2214 12% Sears Roebuck...... % banks in Fifth Federal Reserve District 9% Firestons T& R (1. 2 14 Bervel Ino. change 274 have been licensed to reopen, 42 Firestone T&R pf(6) 13 Sharon Steel Hoop. centirues. The market was quiet. {Federal Reserve Bank of Richmond re- 48 Wirst Nac Btus(134) . 234 Sharp & Dohme. for March 21 were ’l'ruaurg receipts ports, 4% Foster-Wheeler. % 11% Shell Transport & T¢ 1008 $14.616,055.51; expenditures, $20,074.- SHORT-TERM SECURITIES. James R. Leavell, president of the Cus- 2 Foundation Co. 693.1 W 448,084,327.56., (Reported ‘Barney e eaTell e 13% Fourth Nat Inv 1.10.. o peal AR Soms duties Tor 21 dase 6f March were il Al has been elected a Class A director of 1% Fox Film (A) . 8% . 4% Simmans Co.... $10,760,048.49. the Federal Reserve Bank of Chicago to 16% Freeport-Texas (2).. 6% 4% Simms Petrolm(25¢). £l the unespired term of George M.| “20% 13% Gen Am Tank Car(1) NEW YORK BANK STOCKS 9 7 Sloss Sheffield Steel., 4% Gen Asphalt. 5% 5% + 7% 6% Socony Vacuum 40c.. 0 NEW YORK, March 23 m—-ovs the-counter market: 23% 15% So Port Ric Sug 1.60, (Quotations as of 10 o'clock.) BANKS. 719 Fifteenth Street MEtropolitan 3116 S;:a;gu4§¥ et 50% Eastman Kodak (I) . 3% Eaton Mfg Co. 11% Elec Auto-Lit 1 Elec & Musical lnflr. §e.2 WASHINGTON WILKES-BARRE - ® B eedR PR 1+ +htd o+ =l FE Clubilishod 1904 RANDALL H. HAGNER & GOMPANY INCORPORATED REAL ESTATE NP 138/ Connecticut Soonae N W J!%&AZfi,uénsz%Q%? — @ + FoFR FES Hes F13 22" 141 L t 3 - = 3 328233238 W 18% Southern Cal M(l) . FOOD COMPANY HEAD SEES,BETTER BUSINESS By the Associated Press. NEW YORK, March 23.—The 6en~ eral Foods Corporation and subsidiaries, in a pmphlet statement issued yester- /report net earnings for 1932 of sm ua 882, equivalent to $1.97 a share the common stock, comn-red wil 3% Glidden Co. 26 ;mm in the previous year of $18,- 49% Glidden Co prpf (7). 908 PGTAL Ghester, president of the 4 12 GoldDust a0 W | president of corpo K n'.lan. in uudl:cnlmn‘ the report :#“ g 5.'_‘:.“311 (n.!‘..“ ml.ho] lared tha “ve b;lie\e . e e e e { :lmnu'meo" == “wn : B 27 Goodyr TR lnt @ 33 83 % % 18% TewGule Buivns in = % ly'r . . " - [+ i = P 3 "k Govnam sitk A 4" Téx Pacifio Land Tr. Ssaess * # / e R T e 3) 92% Gon Mills pf (6). 10 Gen Motors (1) 2% Gen Public Service. 13% Gen Ry Signal (1). % Gen Realty & Util. 12% Gillette Saf Raz (1).. Competent Management of Rental Properties in All Sections of the City o i 2¥Katnga5Ele L] & * s AL = N tone & Webster. ... 2% Studebaker Corp..... § SEpzed +++ ++1 i s 3. a8z ..§=...=..=. 335 BEpppBIRERag gy FRR FER *## 33