Evening Star Newspaper, March 27, 1933, Page 12

A—12 #xx ‘INFIFTH DISTRICT More Than $30,000,000 Has Been Turned in to Richmond Bank. BY EDWARD C. STONE. More than $30.000,000 in gold has; been received by the Federal Reserve Bank of Richmond since the anti- hoarding campaign got under vn)'i about three weeks ago, according to the | latest report from the Reserve Bank. This amount of gold had arrived up to | March 22 and much more has been placed in the vaults of the bank at Richmond since that date. The fifth Federal Reserve district has | turned in much more than $30,000,000 as-very large deposits of gola and gold certificates were made direct to the| Treasury here in Washington and also imr the local banks. The total returned by so-called hoarders to the Treasury and the Washington banks has not been reported, but is known to have been a very substantial amount. | The flow of ,old to the Treasury, to| the local banks‘and to the Federal Re- serve Bank at Richmond, was given a lively impetus after Gov. George J. Seay of the Richmond bank sent out a | Jetter asking for the names of bank de- | positors who were holding gold in safe | depcsit boxes. or elsewhere, and thereby keeping it out of circulation. Later, Gov. Seay sent out a second | letter extending the date for return of the gold practically to the end of the present month. The same information wa$ requested after that date as had been originally asked. These letters ‘were posted in all the banks where they could easily be seen by depositors and the substance of the communications printed in the financial sections of the! newspapers. | The grand rush started at once in the five States in the fifth district and | in the District of Columbia. Many de- positors said they were returning gold to’ the banks. not because they fear- ed any publicity, but because their con- fidence in the banking situation had | been fully restored Reports from the local banks today indicate that the movement of gold | from “hoarding” has now practically | stopped. Only comparatively small amounts are being kept out of circu- lation. The same is no doubt true throughout the fifth district. | New Bank Moves Suggested. “Two projects which would make the | Federal Reserve Board the controlling | agency over a system of unifled banking | in the United States are under seri- ous discussion here, says Willlam H. Grimes in the Wall Street Journal. One of the projects, for Federal in- | surance of bank deposits, is being con- | sidered by influential Senators. It is altogether possible that such machinery may be incorporated into banking legis- lation which the present session of Con- gress will enact before it adjourns. Such an enactment would greatly faciltate if it did not force all banks into a single system. The second project is to merge with the Federal Reserve Board the func- Hg of the controller of the cur- rency and to approve that section of the Glass banking bill to remove the SefYetary of the Treasury as ex-officio member of the board. This would separate the Reserve Board from the ‘Treasury, free the Treasury from all connection with banking control, and concentrate it in the board. It should be emphasized that these proposals are in the discussion stage only. There is no definite certaintv that either or both will be translated into _action 55 The bank deposit insurance or in- dejonification is an adaptation of the liguidating corporation feature of the GHiss bill. That measure seeks to,.set up.. such a corporation with capital, partly furnished by the Government anB partly by assessments against the . The Government contribution wold be on the theory that it has in tha past participated in Federal Re- serve earnings. Purpose of the corpora- tiah would be to advance funds to ac- complish quick realization on the assets of a closed bank, thus mitigating effects of a bank failure, the journal says. | | Today's Trading on Exchange. 2he week's trading on the Washing- | tom Stock Exchange opened today with | twgs $1.000 sales in Cjty & Suburban 5s | at+89. During the sestion Anacostia & | Polomac Railroad 5s figured in a $1,000 | tusnover at 43. | In the stock division, 20 ‘shares of Léhston Monotype changed hands at 40=and _two sales wefe recorded in P tofac Electric Power 51, per cent pre- fegred stock at 1053, the same price as-noted in other recent transactions. | Yocal bankers were quoting today from the monthly review of the, Guaranty Trust Co.: While the bank- ing crigis is of sufficient magnitude to | require the full co-operation of every cifizen, it is the type of national oc- | cusrence that easily lends itself to ex-| ration, according to the current isslle of the Guaranty Survey, published by- the Guaranty Trust Co. of New Y@k It says: Zwithin the space of six weeks, the comntry has passed through a nmajor financial crisis and achieved a measure | of recovery that seems to have created a tonsiderable degree of reassurance on the part of business men and the public gemerally. A large share of the credit fof” this truly notable record must go to| the Federal administration. | such an abrupt transition from panic to Tenewed hope probably has no paral- lel-in financial history.” = Financial District Comment. Fhe First National Bank at Leakes- | vilfe, N. C.. has been licensed to reopen, according to the Richmond Federal Re. sesve Bank. This brings the Fifth Dis. trigt toal of reopened member banks to 276 out of 388. 4 | Conservators resumed their work today in} Washington banks which are not rumning on full time. Several of these conservators report encouragement and prégress and expect to reopen soon. The final decision in every case rests with ‘Trasury officlals, no definite statements on.reopenings being available. €ol. Wade H. Cooper. president of the Cdmmercial National Bank, said today that Wade H. Ellis, chairman of the re- ceft mass meeting of depositors, would nae the members of the Depositors’ Committee in & day or two. It will be reealled that the mass meeting at the Madyflower Hotel voted in favor of the fommation of such a committee. oyd B. Wilson, president of the Chesapeake & Potomac Telephone Co., was recently elected a member of the bfl?rfl of directors of the Security Stor- age Co., according to announcement by Prgsident C. A. Aspinwall. IBank Stock Quotations Lower. New York City bank stock mar- ket reacted last week with the general market. As a result of the reaction thd aggregate value of the 16 leading issues, as compiled by Hoit, Rose & r, ended the week at $1212.-/ 864,000, against an aggregate value of | $1440,016,000 at the close of the pre- vigus week. The aggregate compares ‘with $929.895,000 reported on May 31 1932, the low point of the depression. e average yield of the 16 stocks | is now 6.90 per cent, despite the divi- debd ehanges, compared with 6.97 per cent, the average yield on March 17. —_—— Gas Industry Revenues. Association reports that Tevenues of the manufactured and nafural gas industry aggregated $69,- 997,600 for January, compared with $74.094.100 for January, 1932, a decline ©of 4.5 per cent. The loss for the manu- fagtured gas industry was 8.8 per cent, ! f t.'!:o natural gas industry cen TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE | 61a % ayu 11% 1 1% 13 5% 0% 6 % 8 9% 61% 494 61 13 4 3% 61 ) 54 21 1315 29 E i ~ 5'a R 154 4 1045 12% A% 5% 31 . 1933~ FINANCIAL. Stock and Dividend Rate. Addressograph. Affliated Prod 1.20. Alr Reduction (3) Alaska Juneau(§0c). Alleghany Corp. . Alleg Corp pf $30ww. Alleg Cp pf $30 xw. Alleghany Steel. . Allied Chem & D (8) . Allis-Chalmers M, Am Ag Chem (Del) Am Bank Note. .. Am Brake Sh&F 60c., Am Brake Sh pt (7).. Am Can (4) Am Car & Foundry.. Am Comc'l Alcohol. . ‘Am European Secur. Am & Forelgn Pwr Ama&Forgn Pw pf Am & For Pw pf (7). Am & For Pw 24 pf.. Am Hide & Leather. . Am Hide & Leath pf. Am Home Prod (3) Am Ice Co. Am International Am La France&Fom. Am Loeomotive. . Am Mach&Fdy (8 Am Metal pf. Am Power & Light. Am P&L$5pf (1%). Am P&L $6 pf (1% Am Radiator. ....... Am Rolling Mills.... Am Sm & Ref Am Sm & Ref Am Steel Foundry. Am Stores (1234) Am Sugar (2).. Am Sugar pf (7). An Sumatra Tob Am Tel & Tel (9) Am Tobacco (5)..... Am Tobacco (B) (5). Am Tobacco pf (6) Am Type Fdrs pf Am Water Works( Am Woolen. . Am Woolen pf. Am Zinc & Lead. Anaconda Copper Anchor Cap (60c) Armour of TIl (A)... Artloom Corp Artloom pf. . Asso Dry Goods Asso Dry G 1st p Asso Dry G 2d pt Atchison Atchison pf (5) Atlantic Coast Line.. Atlantic Refining(1). Auburn Auto (2).... 8 5% Aviation Corp (Del). 3% A1 9 681 68% 3 101 Rig % 2 2 71 Tin 303 Sly 41 14 5% 4 14 24% 147 & 1 Baldwin Locomot. . Baltimore & Ohio. ... Baltimore & Ohio pf. Bamberger pf (6%). Bang & Aroos pf (7). Barnsdall Corp...... Bayuk Cig 1st pf(7). Reatrice Creamery Bendix Aviation. Best & Co. Bethlehem Steel. Bethlehem Steel pf Bohn Alumn & Brass Borden Co (1.60). Briggs Mfg Co...... Bklyn Manhat Tran.. Bklyn Man Tr pf (6). Brunswick-Balke. ... Burns Bros pf . Bruns Term & Rwyi Budd (EG) Mfx. Budd (E G) Mfg pf. Budd Wheel. ... Bush Termi Byers (A M) California Packing. Calumet & Hecla. Campbell-Wyant Fy. Canada Dry G A (1). Canadian Pacific. ... Case (J1) Co.... Caterpillar Tractor. . Celanese Corp. ...... Cent Aguirre (13) Cerro de Pasco. . Certain-teed pf Checker Cab Mfg. hes & Ohlo (2%) . Chesapeake Corp (2). Chi & Eastern 111 pf.. Chi Great Western Chi Mil St P & Pac. .. Chi Mil StP & Pac pf. Chi & Northwestern. Chi & Northwest pf.. Chi Pneumatic Tool . Chi R1& Pac 6% pf. Chi Yellow Cab (1) Childs Company . Chrysler Corp’ City Ice & Fuel (2) Colgate-Palm-P (1). Colo Fuel & Iron. . Colo & South 1st pf. Coiumbia Gas (b1) Columbia Pict vte. Columb Carbon (2) Commercial Credit Comcl Cred 1xt(63% 4 Comcl Cred pf B (2 Comecl Inv Trust (2). Comci Inv cv pf(e6). Comel Solv (60c).... Comwlth & Southn. . Comwlth & Sou pf(8) 4 Congol-Nairn (60c).. “onsol Film Df...... Consol GasN Y (4)... Consol Gas NY pf(5) Consol Laundri . Consol Oil Corp. Consol Textile. Container Corp (A).. Contl Baking (B). ... 4 Contl Can (2).. Contl Diamond Fibre Centl Insur (1.20)... 4 Contl Motors. . 13 " 3% 17% 1% 17% 12 10% 31 32% 997 9915 50 11% 1 1 34 7 895 21 67 4Ly 1% 11% 9% 4% 2 1% 163 13% 13 29 103 1% 21 3 354 10 3 3 9% 2% 1% 3% 11% 15% 5w : “ 2% 1% % 3 Contl Ofl (Del . Corn Products (3)... Coty Ine... . Cream of Wht t23 Crown Cork & Seal Crucible Steel pf.... 100s Cuban-Am Sugar.... Curtis Publishing pf. Curtiss-Wright Davison Chemical. .. Delaware & Hudson. Del Lack & Westn. Detroit Edison (4)... Diamond Match (1).. Dome Mines (11.30). Doug Aircraft (75e). Drug Inc (3)........ Dupont de Nem (2).. Dupont deN &b pf(6) Dugquesne Lt 1st (5). Eastman Kodak (3). Elec Auto-Lite. . Electric Boat. . Elec & Musical Instr. ElecPwr&Lt....... Elec Pwr&Lt 36 pf. Slec Pwr&Lt $7 pf. Elec Storage Bat ( Equitable Of Bld(1).. Eureka Va Cleaner Federal Lt&Traclo Fed Water Service A Fidelity-Phoen 1.2 Firestone T&R(40¢). Food Machinery. Foster-Wheeler. Foundation Co. Fox Film (A) Freeport-Texas (2).. Gen Am Tank Car(1) 1 Gen Electric (40¢)... Gen Elec spec (80c). Gen Foods (2)....... Gen Gas & Elec (A).. Gen Mills (3) Gen Motors (1 Gen Printing Ink. ... Gillette Saf Ras (1). Gillette Saf R pf (5). Gimbel Bros. Gobel (Adolf). Gold Dust (1.20), Goodrich (BF) Goodyear Tire&! . Goody'r T&R 1st (2). Graham-Paig Granby Consol. Granite City Steel(1) Grant (WT) (1) Great Northern Ore. . Great West Sugar. .. Grigsby Grunow. Hal Ham 20 45 59 THE EVENING STAR, WASHINGTON. D. C. FrEFRSEES FEES L e el + i | R S (LD I , EX3 FEEFS rr & SEREETEF R ) P g sk ® sEEFRESE FEETF RS EEET FIFEFE FF FIEIEFF | b I 55 S 4iLIl! 1 B FEFERE FF FEEEFESEEE - % - % 1 n % | u “ - % - % - Received by Private Wire Direet to The Star Office. Summary 1033~ Stock and Low. Dividend Rate 1% Havana Elec Ry pf.. 691, Helme (GW) (17) 95% 87% 857% 45 Hershey Choe (5) 34 2% Hollander Sons. 169 145 Homestake Min (9) 2% 1 Houdaille-Hersh(B). 51% 47 Househd Fin pt 15% 8% HoustonOfl......... 3% 1% Houston Oil (new).. 10 5' Howe Sound (40c)... 15% 11% Hudson & Man (2%). 5% 3 Hudson Motor Car. 3% 1% Hupp Motors. coes T6% 10% Iilinols Central..... 204 38% 31 Illinois Cent11(4).. 208 38% 27% Industrial Rayon (2)x 50 31 Ingersoll-Rand(13%). 19 16 Inland Steel. ... 2 4% Insuranshrs 1 Interboro Rap Trani Int Bus Mach (6) Int Cement. . 20 Int Harvester (60e). 934 Int Hydro-Elec (A).. 40 Int Merchant Marine 2 Int Nickel of Can. Int Nick Can pf (7 Int Paper & Pwr (A). Int Paper & Pwr pf. 408 Banwulan B35 154% Int Salt (1%). 9%, Int Silver. 241 Int Silver pf. -5l Int Tele & Telex. 1% Interstate Dept St. 28% 12% Johns-Manville. . 50 35 Jones& Laughpf(1) 30s 11 6, Kansas City Southn. ¥ 8% 6% Jayser (J) & Co. 3 Kelsey-Hayes (B). 31 Kelvinator Corp. 80 Kendall Co pf (§) T4 Kennecott Copper. 512 Kresge (S8).... 928, Kresge (SS) pf (7) 1412 Kroger Grocery (1). 22'a Lambert Co (4).. Lee Rubber & Tire. .. Lehman Corp (2.40). Lehn & Fink (2)..... Libbey Owens Glass. Ligg & Myers B (15) . Lily Tulip Cup (1%). Liquid Carbonie. .. Loew's Inc (1)... Loews Inc pf (6%) 5% Loose-Wiles Bis (2). Lorillard (P) (1.20). Louisiana Oil. .. Louisville & Nash. McCall Corpn (2) McCrory Stores A . MecIntyre P M(11%). McKeesport TP (4). McKesson & Rob pf.. McLellan Stor Mack Trucks (1). Macy (RH) & Co (2). Magma Copper. ..... 1 Manhat Elev mod gtd 215 Marine Midid (80c).. 41 Marshall Field &Co. 22 May Dept Stores (1). Melville Shoe (1 Mengel Co pf. Mesta Machin Miami Copper. . Mid Continent Petm. Minn Moline Pow Mo Kan & Texa: Mo Kan & Texas pf Missouri Pacific. Missour{ Pacific pf.. Mullins Mfg. Mullins Mfg pf. M-irray Corp. ash Motors (1). at Biscuit (2.80). at Cash Rex (A). Nat Distillers Nat Dist prpt (1%). Nat Pwr & Lt (1) Nat Steel (30e). Nat Surety. Nat Tea (60¢) Nevada Con Copper Newport Industri N Y Central. ... & Harlem (§). 60s N H & Hartford. 265 7% N Y Ont& Western.. 48 1% N Y Shipb'ldg (10c). 160 31 N Y Shipbldg pf (7). 300s 80 N Y Steam pf (§) 308 N Y Steam 1st pf(7). 100 17% Noranda Min (21.10). 50 111'; Norfolk & West (8).. 9 781 Norf & Westn pt (4). 80s 4 North Am Aviation 73 17% North Am (b8 %stk). 303 32 NorthAmerpf(3)... 1 1013 Northern Pacific..... 210 1'x Norwalk Tire & Rub. 4% Ohio O11. 1% Oliver Farm Equip. 10% Otis Elevator(60c) . 14 Otis Steel. ... 107 2% Otis Steel pr pf. 105 105 Outlet Co pf (7). 454 31'% Owens 111 Glass (2).. 31% 21% Pacific Gas & El (2). 43% 28 Pacific Lighting (3). 97 Pacific Mills........ 9 81% Pacific Tel & Tei (6). 2% Packard Motor Car. 2% 13 Paramount Publix. 13 Park Utah. & % Patha Exchange. .... 2% Pathe Exchange (A). 27% Penney (JC) (1.20). 191 Penna RR (h50c).... 8 Peoples Gas Chi (5). 105% [ n Pere Marquette pf... Petrol Corp of Am... Phelps Dodge - Phila Co 67 p: Phila& Read C&1... 4% Phillips Petroleum. . 9% Pilisbury Flour(60c) 1% Pitts Screw & Bolt. .. 15% Pitts United pt S 6% Plymonth Oil (1).... 5 Port Ric Am Tob(B). 19% Proctor & Gam(134). 975 Proc & Gamb pf (5).. 37 PubSveNJ (2.80). ., 70 Public Sve NJ pt (5). 18 Puliman Corp (3).... 215 Pure Oil 30 Pure Oil pf (2). 8% Purity Bakeries (1). 3 Radio COrp........ 13% Radio Corp pf (A)... 63 Radio Corp pf (B)... 1% Radio-Keith-Orph... 5% RR Sec Ill Cent Stk. . 1% Reis (R) & Co 1st pf. 215 Remington-Rand 4 Republic Steel.. 6 Reynolds Met; 26% Reynolds Tob B (3).. % Richfield Oil. % Seaboard Air Line. .. 15 Seaboard Oil (150¢). 1214 Sears Roebuck. 14 Seneca Copper. 1% Servel Inc.. 1% Sharon Steel 2% Sharp & Dohme 6% Shattuck(FG) (: 4 Shell Union Oil. 4% Stmmons Co... 3 Skelly Oil. 32 Skelly Oil pf ww.. 6 Socony Vacuum 40c. 58 SolvAmpfww(s%). 15% So Port Ric Sug 1.60. 184 Southern Cal Ed(2).. 11'a Southern Pacific 4% Southern Rallway... 5% Southern Rallway pf 13% Standard Brands (1). 7% Stand Gas & Elec. . 13 Stand Gas&El of (4). 19% Stand Ol Calif (2).. 92% Stand Oil Exp pt (5). 14 Stand Oil Kansas 22% Stand O1INJ (1) 2% Stewart Warner. 5% U% 10% % % Symington (A) 14% 10% Texas Corp (1) - 25 1b% Tex Guilf Sulphur(1) 1% 1% Tex Pacific Coal®0Oil. 8% 6% Thompson (JR) (1). % % ipson Products. Bales Nat. | ~Prev. Aulo.mln. Low. Olose. Chee. | High. ~Low. 1% 1% 3 13 2 93 45 —2% +3 i - | s 2 Rese 2 2 w2 2 veEF - % + 11 + 1k -t —14 — % -2 W n " A b FRELE T FPEFE 3§ FFEEPEEEE FERE FF * 4|U. 5. TREASURY CERTIFICATES | FEFF RFEFFFE - FFEEEER 1033~ Dividend Rate. 44% 27 Tide Water Assoc pf. 17% 13% Timken Roller Bx(1) 6 2% Transamerica Corp.. 4% 2% Tri-Contl Corp. .2 Truscon Steel. % Ulen & Co... 9% Und-Ell-F' ks! Union Bag & PaBer Union Carb & C (1).. Un Oil of Calif (1) Union Pacific (8).... Union Pacific pt (4). Unit Alrcratt. Unit Carbon. ..... Unit Corp (40¢). Unit Corp pf (3) Unit Dyewood. Unit Fruit (2) Unit Gas&Im (1. U S & Forn Secur..... U S &Forn Sec pt... U S Freight. .. U S Gypsum (1). U S Ind Aleohol ..., U 8 Pipe&Fdy (50¢). U 8 Realty & Imp. U S Rubber. .. U S Rubber 1st pf. U S 8mtg & Ret U S Smtg&Ref pt 3% U 8 Steel.. . 1200 USSteelpf (2)..... 144 U § Tobaceo (4.40).. Univ Leat Tob (2) 5 2% Utll Pwr & Lt (A) K % % VadscoSalesCorp... 10 243 15} Vadsco Salespf..... 1 14% 7% VanadiumCorp..... 32 MONDAY, MARCH 27, 1933. Stock and . Dividend Rate. % Va-Car Chemical.... 24 Va Elec&Pw pf (6) 20% 12% Vulcan Detinning 1% Wabash pf 86% 75 34 8% 6% Waldorf 1 Walwort Ward Baking (B). % ‘Warn Bros Pictu; Warren Bro Webster FINANCIAL. OLD STOCK GAINS STOCKS ARE LOWER Add 00. High. 1l 408 4108 + W (A) . System (1). % h Co. ... | Eis Wesson O & Sn (50¢) West Pa West Pa Western Western Western Western ting’s Elec pt (7). Pwr pf (8). Marylend. . Pacific. ... Pacific pf... Union. ..... se Air B(1). Westinghouse Elec. . White Rock M S (2). Wilcox Oil & G: o 0 Willys-Overland Wilson & Co. ... Woolworth (2.40) . Wrigley e SR B S ing 1 a Paid stock. 2% in stock. 3§ Plus 2% Yeliow Truck. . 3% Zonite Product: e Payable in cash or stock. f P) $1 in special preferred Worth'n Pump pf A.. (Wm) (3).. 80,000 12:00 Noon 210,000 280,000 210 P.M 340,000 given in the above table are the annual cash | latest quarterly or half-yearly declarations. ess than 100 shares. 1 Partly extra. : Plus this year—no regular rate b Payable in at slock K Plus 3% i stock. m Paid last year—no regular rate. nPlus B% in stock. in scrip. —1% ' 2 Payable ! ALEXANDRIA EXPRESS OFFICE ON FULL TIME ; By a Staff Correspondent of The Star. ALEXANDRIA, Va., March 27.—With | the reinstatement this week of 50 men wl who had been furloughed some months ago because of lack of work, the PFruit Growers' Express Co, here, with 500 employes on its pay roll, is now working its peak number of men for the first time this year, according to an an- nouncement made yesterday by Edward |'A. Sweeley, mechanical superintendent. I The men, who have been reinstated because of an increased volume of busi- ness, are now working nine hours a day and getting additional pay for the extra hour's work, it was stated. No | men, other than former employes who had been furloughed, are being hired Inolk ‘The majority of the men em- ployed by the company are carpenters, | mechanics and laborers, Approxi- mately 30 men are emploved in the company's clerical department. Business Notes By the Associated Press NEW YORK. March 27 —Standard Statistics Co., in its wekly business re- view, says that volume in many lines continues restricted because of reduced purchasing power. due to frozen bank d ts and to the fact that a con- siderable number of banks remain closed. The Silk Association of America is circulating a petition among leading silk interests in this country urging immediate action by producers to en- courage increased use of silk by weavers in America. It recommends to the Cen- tral Raw 8ilk Assoclation of Japan and to the Japanese minister of agriculture the financing of & campaign to promote silk in the United States, with the co- operation of the American association. Brokers’ Comment NEW YORK. March 27 —Most brokers expect a quiet, narrow stock market for the present. Shields & Co.—Only a trading policy is possible and until business news turns better, or more courageous spon- sorship is evidenced, rallies are not like to carry through. Mornblower & Weeks—We do not be- lieve the present moment an opportune time to take the selling side and would rather assume a sideline position and wait for the market to prove itself. Clark, Childs & Keech—We expect some additional backing and filling until some important news develops which can carry stocks out of the pres- ent range. any sudden major advance in security prices is unlikely, we think that the trend on the part of the public toward the constructive side will permit of gradual improvement. Dividend Meetings. NEW YORK, March 27 (#).—Divi- dend meetings are scheduled for this ration, American Can Co. Colgate- Palmolive-Peet, General Mills and Her- shey Chocolate Co., among others. Di- rectors of American Ice . will meet for action on the preferred payment. POTATO MARKET. CHICAGO, March 27 (® (United States Department of Agriculture) — 339; total United States shipments Sat- urday, 1.134; Sunday, 151; russets slightly stronger, other stock firm; Wis- consin round whites, 75-85, mostly around 80; Idaho russets, 1.30-1.35: Colorado McClures, 1.45-150; South Dakota early Ohios mostly around 80. —— FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal rold Selling checks val today. London. pound... 42 Paris, franc R Bru own. . ..... kholm, ‘crown’’, Montreal, ' discount, (Reported by Chas. D. Barney & Co.) Rate—Maturity. 25, Mev 3103 1. 1934 18, 1936 1," 1936 s Aug. June Aus. 2333333328823 3 3’ Aug " 15, 1933 4%s Dec. 15, 1933 —_— SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co.) Bid. Offer Allis-Chalmers Oo. 70 5s 1937.. 69 American Chain Co. 6s 1933° .. ... Ame Tel. povons > week by Allied Chemieal & Dye Corpo- | Potatoes—Receipts, 240 cars; on track, | | 1932; CORPORATION | REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, March 27.—Following is today's summary of the corporation news prepared by Standard Statistics Co.. Inc, New York, for the Associated Automobile Parts and Tires. Firestone Tire & Rubber Co. declared a quarterly dividend of 10 cents; previ- ously paid 25 cents quarterly. Office and Business Equipment. General Fireproofing Co.—Operations of company are under 30 per cent of capacity. Raliroad and Railroad Equipment. | Chicago & Eastern Illinois Railroad February net operating deficit, $70.217 | vs. deficit of $115714 in February 2 months' deficit, $210,156 vs. deficit, 304,914 Chicago, St. Paul, Minneapolis & Omaha Railway February net operating deficit, $74.219 vs. net deficit, $11.694 in February, 1932; 2 months’ deficit, $188 837 vs._ deficit, $160.284. Illinois Central Railroad February net operating income of system, $473, 494 vs. $1.179.353; 2 months’ totals, $1,083,803 vs. $1.838.857. Louisville & Nashville Railroad Feb- ruary net operating income, $956.195 vs. $359.356; 2 months' totals were $1,806,- 689 vs. $439.194. Missouri-Kansas-Texas Railroad Feb- ruary net loss after adjustment bond interest, $554.498 vs. net loss of $194,- | 461 in February, 1932; 2 months’ net| loss, $1,044,142 vs. net loss of $382.330. | New York, New Haven & Hartford Railroad February deficit after charges, $796.112, vs. surplus of $296,598 in Feb- riary, 1932; two months' deficit after charges, $1489393, vs. surplus after charges of $354.349. Minneapolis. St. Paul & Sault Ste. Marie Railway February deficit after charges, $1,060.668, vs. deficit $1.015.- 1235; two months’ deficit, $2,125,065, vs | deficit of $2.104.771 Juckson Bros., Boesel & Co.—Although | | Hogs, 32,000, | goed, 27! | lower on medium to strictly good kinds: | | North American Car Corporation 1932 common share earnings, 51 cents, vs. $247. Seaboard Air Line Railway February net operating income off 31.6 per cent; two months was up 52.7 per cent. Southern Railway February net oper- | ating income, $663436, vs. $282,092 in February, 1932 two months’ totals, $1.465,385, vs. $306.316. ‘Wisconsin Central Railway net loss in February. $339.627. vs."loss of $334.- 183 in February, 1932: two months’ net loss, $726.123, vs. net loss $710,946. Steel and Iron. ‘Truscon Steel Co. operations below 20 per cent of capacity. Youngstown Sheet & Tube Co. oper- ations reduced to 8 per cent of capacity. Utilities. Mackey Co.'s 1932 preferred share earnings, $7.12, vs. $7.70. CHICAGO LIVE STOCK MARKET CHICAGO, March 27 () (United | States Department of Agriculture).— | including 15,000 direct; 10-20 lower than Friday's average; packing sows, 10 off; 180-250 pounds, | 3.90a4.00; top, 4.00; 260-350 pounds, 3.65a3.90; pigs, 3.50 downward; most | packing sows. 3.40a3.50; light light, good and choice. 140-160 pounds, 3.60a 3.90; light weight, 160-200 pounds, 3.75 | a4 medium weight, 200-250 pounds, 3.85a4.00; heavy weight, 250-350 pounds, 3.65a3.90; packing sows. medium and 550 pounds, 3.25a3.65: pigs, good and choice, 100-130 pounds, .2583.60. Cattle, 12,000; calves, 1000; very | little done on fed steers and long yearl- ings; most early bids being weak to 25 common offerings about steady; medium weight and weighty steers under pres- sure; light heifer and mixed yearlings steady to 25 lower; cows, slow, steady: | bulls strong to 10 higher; vealers, 25 | or more lower: most fat steers and yearlings, 4.50a5.75. | Slaughter cattle and vealers, steers, | and choice, 550-900 pounds, 5.50a 7.25; 900-1.100 pounds. 5.5087.25: 1,100- 1,300 pounds, 4.75a7.25; 1,300-1500 pounds. 4.2526.50; common and medium, 550-1,300 pounds, 4.00a5.50; heifers, | good and choice, 550-750 pounds. 6.00; common and medium, 3.50a4.75; cows, good, 3.00a3.50; common and me- dium, 2.40a3.00; low cutter and cutter, 1.75a2.40; bulls (yearlings excluded), and medium, 2. and choice, 4.7526.25; 4.75; cull and eommon, 3.0084.00; stock- | er and feeder cattie, steers, good and ' choice, 500-1,050 pounds, 4.50a6.00; common and medium, 2.75a4.50. Sheep. 17,000; practically nothing done; most interests bidding fully 25 lower. GOLD STOCKS GAIN. By the Assoclated Press. Monetary gold stocks of the United States showed a gain of $13,000,000 during the week ended March 22 as the | change was tabulated by the Federal Reserve Board. The table that follows the total stock is given for camparable weeks, as an- nounced by the board: Week ended March 22 Previous week. Same week last NEW YORK BANK STOCKS NEW YORK, March 27 (#).—Over- the-counter market: (Quotations Central Chemical Hanover (1.80) 20 {in copper and lead were NON-FERROUS METAL | MARKET IS WEAKER Recent Advances in Copper- nnd‘ Lead Lost During Week—Tin | Proves Exception. By the Associated Press NEW YORK, March 27 — Easiness developed in most nonferrous metals last week. An exception was in tin which became steadier as a result of shortage of metal for spot delivery. | A fair demand developed at the ad- vance, but dealers and importers were reluctant to sell owing to their poorly supplied position. As a result. spot metal was being quoted at a premium above April delivery, which is an un- usual development, according to the trade. On the other hand, recent advances lost, with prices again at the levels prevailing on March 3. With no improvement in de- mand for copper on the recent ad- vance of 3, cent per pound, smelters offered electrolvtic down from the peak price of 53 to 5's cents and a fur- ther concession of 'x cent developed in one quarter. The easier tone made consumers cautious. However. a fair European demand was reported at steadier prices in that market Successive reductions in lead dur- ing the week carried the price down $7 per ton. Smaller smelters who had been reluctant to book business on the recent advance were said to have sought orders at concessions. However, consumers had supplied their needs from larger producers and withdrew from the market. Zinc eased in sympathy clines in other metals. with de- GENERAL MOTORS PLANS TO READJUST ACCOUNTS By the Associated Press. NEW YORK, March 27.—A read- justment in the real estate, plagt and equipment account of the GeneMl Mo- tors Corporation to accord with present N QUIET MARKET Moderate Selling Pressure Results in Slight Losses for Leaders. BY GEORGE T. HUGHES. Special Dispatch 10 The Star NEW YORK. March drifted lower in light trading again today. Volume was a little larger in the last hour and the decline a little more pronounced, but it was a profes- 27.—8tocks | sional market from start to finish and seemed to be awaiting developments on the outsie rather than reflecting them. Weakness in American Telephone. | which was a feature throughout, was emphasized by the announcement that New England Telephone, one-third of the shares of which are owned by the parent company. had been put on a $6 annual basis against $8 previously paid. Homestake Mining sold at $170 a share | for the first time toward the end and | Marseille. conditions is disclosed in the pamphlet report for 1932. Surplus real estate, plant and equip- - ment previously carried at cost of $115.- 491,946, has been adjusted by the cor- poration to the estimated salvage value of $22779411, and the difference of $92.712.535 has been charged against depreciation reserve. B e — NEW YORK EGG PRICES | NEW YORK, March 28 (Special).— Quotations for eggs in the wholesale cash market today were Mixed colors, special 153, standards. 14-141, ; firsts, 13-131; firsts, 13! seconds. 1215; medium, 113,-12: dirties. 12; checks, 11-111; whites, nearby selected, 20-21: Western receipts. specals, 1715-15; | standards, 16-161;; undergrades, 14!5- 15; browns, nearby and Western spectal packs, 16-18; standards, 15-151. packs. 1415- storage packed U. S. TREASURY BALANCE. By the Associated Press. ‘Treasury receipts for March 24 were $7.088.146.75; expenditures. $30,024.190.- 22: balance, $518.021.798.24. Customs duties for 24 days of March were $12,- 630,221.22. CHICAGO DAIRY MARKET. CHICAGO. March 27 (#).—Butter— Receipts. 8.926 tubs: about steady: extras (92 score), 91 acore), 17'2: standards (90 score, | creamery special (93 score), 18!,-183,: | 734: extra firsts (90- | centralized. carlots), 18. | Eggs—Receipts, 32591 cases: about steady: extra firsts, 121, ; fresh graded | firsts, 12: current receipts, 11, © | | | Robbing a Horse of Its Tail. Horsehair fetches so high a price in some parts of Chile, that stealing horses’ tails is quite a'common crime. Even the mounts of the police do not | escape_the pilferers. ANNUITY PROVIDES NCREASED . n QUPREME NCOME ™' SECURITY BOOKLET MAILED ON REQUEST LEROY GOFF The Fidelity Building & Loan Association Main Office, 610 13th N.W. Under Supervision of the U. Treasury A Friendly Spirit | of Helpfulness —and co-operation will al- ways be found at “The Fi- delity.” o Those who desire to “get ahead” in the world. . .to ac- quire a home of their own ...or provide for any cher- ished gurpose. are invited to save through “The Fidelity.” To Your Savings We Add | 5% Interest Compounded Semi-Annually Come in and let us give you full details of our plans and methods. -4 furnished the only feature on the up- side., In commodities wheat was lower. but. corn was firm, reflecting proposals to require a proportion of alcohol made lus 8o ir stock. hPlus | {TOM grain to be mixed with all gasoline sold. The foreign exchanges moved in favor of the dollar. Sterling at $3.413, was off 13, francs at 3.927, cents, off 15. and other European gold currencies down correspondingly It was the persistent liquidation in American Telephone & Telegraph that weighed down upon the market during the early trading. Telephone made a new low by a fraction in the first hour. Directors are not scheduled to meet for dividend action until May 17, but Judging from the action of the stock, as well as the reductions in the pay- ments by subsidiaries. the prospect is for a cut in the disbursement on the shares of the parent company. Even that. however. should have been dis- counted in part ¢t least by the recent decline. Meanwhile the selling has an adverse effect on the rest of the list. Another stock which is in supply on every rally i« Du Pont. It sold today between 5 and 6 points under the best of last week. The General Motors pamphlet report made public over the week end, although revealing an un- impaired finencial position. did nothing to help that stock. which was fraction- ally lower. Allied Chemical recovered under short covering. but most of the market was inclined to sag. The agricultural stocks took their cue from the rest of the market during the early trading today rather than frcm &ny movement in commodities or from the Washington news with regard to farm relief. Insurance stocks were depressed by recent developments in that fleld, but there are very few of them listed on the excha ‘The best showing of the day, 2s 2imost alwars when the general market i: heavy. was made by the g-ld mining stocks, Home- stake, McIntyre and Dome PARIS BOURSE PRICES. PARIS. March 27 (#)—Three per cent rentes. 71 francs 50 centimes; 4!z per cent rentes. 87.00. Exchange on London. 87.00. The dol- lar was quoted at 25.441 French Aiilines Merge. Two of the three greatest commercial airlines in France have merged. They are the Air Union and the Farman Lines. The merger will mean the connection of the network of French 2ir services linking Paris with London. the Riviera. Geneva and eventually Corsica and North Africa, with those which unite Paris with Brussels, Amsterdam. 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