Evening Star Newspaper, March 29, 1933, Page 11

FINANCIAD. BV R TICKER CLUB HEAD Partner in Hibbs Company Succeeds Lockwood—Bra- }+ hany Vice President. BY EDWARD C. STONE. Karl W. Corby, partner in W. B. Hibbs & Co., members of the New York Btock Exchange, was elected president of the Washington Ticker Club at the annual meeting held late yesterday. He succeeds Ches- ter W. Lockwood, one of the man- agers of the local office of Hemphill, Noyes & Co. ‘Thomas W. Bra- hany, resident manager of the New York Stock Exchange firm of E. A. Pierce & Co,, was elected vice president, and Ralph M. Wolfe, manager of the Washington office of Mackubin, Good- rich & Co., was Plsgrored by election as secretary-treas- Mr. Lockwood. the retiring president, and Charles Carroll Morgan, one of the local managers of the office of G. M. P. Murphy & Co. were elected to ths board of governors to serve during the year with the above-named officers. President Lockwood reported a very successful year. The Ticker Club in- creased its indi- vidual membership as well as the num- ber of New York Stock Exchange firms represented, 14 of their local offices being con- nected with the or- ganization. ‘The club mem- bers voted to hold regular meetings on the third Thursday of each month The Washington Ticker Club was organized three vears ago for the mutual protection cpester W. Lockwood. of the members. Matters of direct interest and impor- tance to brokers are discussed at the meetings. In addition to the business sessions during the past year, a dinner was held at the Chevy Chase Club, which was addressed by a member of the New York Stock Exchange who came here especially for the occasion. Bank Status Here Unchanged. Up to noon today the new ruling is- sued yesterday by Secretary Woodin giving conservators more powers had made no change in the situation in the | Washington banks which are now | closed. The new regulation, under certain re- | strictions, would permit the payment to | depositors of 10 or 15 per cent of their funds, provided such payments are con- sidered wise by the officials. Conservators said today that they had not had sufficient time to study the new ruling to discuss it intelligently. ‘Whatever payments that might be made would have to be approved by the con- troller of the currency, they said. Ob- taining such approval would require time. ‘The majority of closed Washington banks want to reopen 100 per cent. Some are now taking deposits under the bailee plan and accepting payments on notes, but they are an: s to get away from all restrictions, They feel that they cannot compete with other banks unless allowed to perform all banking functions. Unless they are allowed to take in deposits, the payments mentioned in the new Treasury ruling would prove a steady drain on their present resources, it was sald today. Some bankers con- sidered that the new ruling was in- tended to apply to “dire distress” and give them the opportunity to act in such Telief cases. The hope was expressed that the Treasury will at once make a complete explanation of the aims of the new order. It may relate only to banks gxfndt are planning to liquidate, it was South Reports Marked Gains. Just now the South is reporting the most favorable trade news of any of the 12 Federal Reserve districts. The | Atlanta district reports the highest re- tail sales in two years. Many small industries have expanded activities. Bank clearings are the heaviest in months. Businoss leaders are more enthusiastic over the outlook. In the local fifth Reserve district | business is better than it was two| weeks ago, the Richmond Bank says. New York says trade is holding steady. Philadelphia notes slight advances in many lines of industry. New England reports definite, al- though moderate improvement. Chi- cago notes retail sale improvement as Easter approaches, imncluding an unex- pected demand for automobiles. Steel output is better in the Cleve- land district. Out in St. Louis there has been a pick-up in the shoe indus- try. Minneapolis finds retail sales sat- isfactory and Kansas City makes simi- lar_reports. Bank clearings in Dallas, Tex., indi- cate business revival. San Prancisco is awaiting business improvement, sales being slow but prices steady. Potomac Bank Depositors Meet. Depositors and others interested in the future of the Potomac Savings Bank held a meeting last night at the Ashton Heights Woman's Club House, in Arlington County, Va. Much en- thusiasm was shown in the campaign to sell stock enough fo raise $500,000 in new capital and make the institu- tion a national bank. The drive was being pushed again today, officials re- porting enocuraging progress. _awrence M. Proctor, manager of the ‘Washington office of Alexander Brown & Sons, foreign and domestic bankers, announced today that the local offices, located at 737 Fifteenth street, for many years, would be moved tomorrow to 734 Fifteenth street, directly across the street. The new premises have been remodeled for an up-to-date in- vestment banking office. ‘Washington Railway & Electric pre- ferred stock sold at 85 on the Washing- ton Stock Exchange today. Potomac Electric Power 5'; per cent preferred moved at 105'.. In the unlisted de- partment $1,000 Metropolitan Club 4}2s changed hands at 91. Woodward & Lothrop preferred and common stocks are now being quoted ex-dividend in preparation for the coming dividends. Thomas B. Paton Expires. ‘Thomas B. Paton, for about 25 years general counsel of the American Bank- ers’ Association, died yesterday at his home in Forest Hills, N. Y., according to information received here by E. E. Mountjoy, Washington representative of of the A. B. A. Judge Paton died of heatt trouble. He had been in r health for several months, but had been at the associa- tion's New York office quite regularly and his close friends did not realize his He was about Karl W. Corby. condition was serious. 70 years of age. He was personally known to many Washington bankers, his work bringing him here frequently to a r before congressional committees. - His interpre- tations of banking law have been studied almost like textbooks by bankers all over the United States. Brilliant in legal brain power, Judge Paton stood at the top in the estima- tion of the members of the A. B. A. His place will be hard to fill. His last ad- dress in Washington was some two years 8go, when he discussed legal matters before the Fiduclaries Section of the Y Bistrict Bankers' Association. ~Prev, 1933~ High. 12% 15% 263 4% 13% 5013 651 iy 13% 167 36 14% 264 9% 54 31 5 20% 28 % 20'% T4 14% 10% 21 2% 23% 26% 4% 55 100 Gen Cigar pt ( TRANSACTIONS ON Yesterday's Sales Add 00, High. 1 4% g FEEE FFE FE FE%RS Stock and Dividend Rate. Adi 1% Adv Rumley, 47% Air Reduction (3)..w 114 Alaska Juneali(60c). 148 1 Alleghany Corp..... [3 1% Alleg Corp pt laowv)v. Lot 8 Am Bank Note. 1 Am Beet Sugar. 2% Am Beet Sugar pf 94 Am Brake Sh&F 60c., 60 Am Brake Sh pf (7).. 3! 493 AmCan (4)...... 8 614 Am Car & Foundry. Am Chicle ($3).. Am Comc'l Aleohol. Am European Secur.. # Am & Foreign Pwr. .- Amé&Forgn Pw pf(§) ‘Am & For Pw pt (1) Am & For Pw 2d pt. Am Home Prod (3 ++1 1 (+ 2% Am News (1%) ‘Am Power & Lig 4 Am P&L $5 pf (1) Am P&L 36 pf (1%4).. Am Radiator. Am Sm & Ref 6% pf.. Am Sm & Ref 7% pf.. Am Stores (12%) Am Sugar (2).... Am Sugar pt (7). i Am Tel & Tel (9). Am Tobacco (5).. Am Tobaceo (B) (5). Am Water Works(1 Anaconda Copper. ... Armour of Del pf(7). 4 Armour of 111 (A) Armour of 11l (B) Armour of 111 pf. 4 Artloom Corp. Artloom pf. Asso Dry G 2d pf. Atchison... Atchison pf Atlantic Coast Line., 8 12% Atlantic Refining(1). 10 61 Atlas Powder pf (6). 2108 31% Auburn Auto (2). 7 51 Aviation Corp (Del) 37 Baldwin Locomot 81 Baltimore & Ohio. 9% Baltimore & Ohlo pf. 20 Bang & Aroost (2) 3 Barnsdall Corp. 3% Bayuk Cigars. 27 Bayuk Cig 1st pf( 63 Belg N Ry pt pf 4.09 581y 16% SESEFERE F OFEFE | a1V 25Y% Bethlehem Steel 93 Bohn Alumn & Br: 18 Borden Co (1.60) 515 Borg Warner. 24 Briggs Mfg Co 21% Bklyn Manhat 64 Bkivn Man Tr pf ( 4 Bkiyn & Queens 1% Brunswick-Balke. 15 Bruns Term & Rwys. 2% Bucyrus-Erie cv pf.. 27 Bucvrus-Friepf (2). 64% Burr Add Mach(40e¢). 1 Butte & Superior.... 815 Byers (A M) % California Packin % Callahan Zine & L Calumet & Hecla. Campbell-Wyant 3 Canada Dry G A (1) Canadian Pacific. .. Cannon Mills (1). 3 Case (JT) Co... Case (J1) pf (4).... Caterplllar Tractor. . Celanese Corp....... Cent Aguirre (1%).. 4 Century Rib Mills. .. Cerro de Pasco.....s Checker Cab Mfg.... Thes & Ohio (23%)... Chesapeake Corp (2), Chi & Eastern Il pf.. Chi Great Western. ., Chi Great Westn pf.. Chi Mil StP & Pac pt. Chi & Northwestern.. Chi Pneumatic Tool., Chi Rock 1& Pac.... ChiRI& Pac 6% pf.. ChiRI&Pac 7% pf. Chi Yellow Cab (1).. Chickasha Cotton Ol Childs Company Chrysler Corp'n City Ice & Fuel (2 City Ice&Fuel pf 6% Coca-Cola Co (7). Colgate-Pajm-P ( Colz-Palm-P pf (6 Collins & Akma: Colo Fuel & Iron.. Columbia Gas (b1).. Columb Carbon (2).. Commercial Credit. .. Comc’] Credit (A). ... 70 Comcl Cred 1st(6%). 18 Comel Inv Trust (2). 9 Comcl Solv (60c).... 114 Comwlth & Southn. . 22 Comwlth & Sou pf(8) T4 Congol-Nairn (60¢).. 5% ~onsol Film pf...... 42% Consol GasN Y (4).. 90 Consol Gas NY pf(5). 5 Consol Oll Corp.....: % Consol Textile. z % Container Corp (B).. 15 Contl Baking (B).... 36 Contl Baking pf (4).. Contl Can (2)........ Contl Insur (1.20) Contl Motors. 4% Contl Oll (Del). 45% Corn Products (3) 2% Coty Inc....... 23 Cream of Wht 12%.. 21 Crosley Radlo. . 14% Crown Cork & Seal. 2413 Crown C&S pf (2.70 1t Crown Zellerbach 16 e 4% 64 $: SruarunB~meSE nmon EEF BE FRXES s - J9PN 2 % i 4T% 8% T 5815 3% 43 10% 23% Y - 3 Srrolfvaunasn LISl | 400 o meaAAa | 13 FPF EF EE>r EEFE EiEP o ++01 Crucible Steel pf. 2% Curtiss-Wright 37% Delaware & Hudson.. 17% Del Lack & Westn. .. 2 Denver& RG W pf.. 51% Detroit Edison (4) 17% Diamond Mateh (1) 12 Dome Mines (+1.30).. 10% Doug Alrcraft (75¢). 31 Druglne (3)........ 324 Dupont de Nem (2).. 50% Eastman Kodak (3).. Eitington-Schild 1st. 11% Elec Auto-Lite...... 80 Elec Auto Lite pt(7). 3% Elec Pwr& Lt.... % Elec Pwr&Lt §7 pt. 21 Elec Storage Bat (2). 4 Engineers Pub Sve. . 615 Equitable Of Bla(1).. 4 ErieRR..... 5 ErieRR1stpf. 3 Erie R R 2d pf 2% Fair -Mors 41 FedL&Trpf (6 % Federal Screw W 1% Fed Water Servic 10% Fidelity-Phoen 1.20. 5 _Fifth Ave Bus (64c). 915 Firestone T&R(40¢c)« 4'4 Foster-Whesler,.... 138% Fourth Nat Inv 1.10.. 1% Fox Film (A)...uu.e 12 Frankin Simon pf(7). 16% Freeport-Texas (2).. 2% Gen Am Investors... 42 Gen Am Invpf ww 6. 13% Gen Am TankCar(1) 4% Gen Asphait. . 13 Gen Baking (2 29 Gen Cigar (4). R Do - wnSTona N PR SR N AU 2u AmBan 10'% Gen Electrie (40c 11% Gen Elec spec (§0c). 21 Gen Foods (2).. 3 Gen Gas & Eleo ( 3513 Gen Mills (3). 10 Gen Motors (1). 65 Gen Moters pf « 2% Gen Outdoor Adv... 2% Gen Public Servie 693 Gen Ry Signal pf (8). % Gen Realty & Ufllxn sesrPrs e *l++4 3 & - 7 5% 20% 12% % 62 6% 12 3 9% 2% 1% 6% 5% ;4 % 20% 15 57% 45 80 72% 170 145 16% 8% 3% 1% 10 5% 1% 11% 5% 3 3% 1% 15% 10% 16 12 3% 2 4% 2% 2% 1% T 4% 156 i% M T5% 9% 6 % % 6 Sy 25% 13% 6% 3 2 1% 9y 6% 44 24 5 313 188 13% 18 9% 40 24y 85 54 1 16 11 ) 34 ™ 5% 11% 10 6% 10% 5y 100 90 19% 14% 34 224w 1% 1 14% AT% 374 18% 14 Ty A% 63% 49y 16 13%, 15 10 9 8 183 10% 81y 1% 19% 10% 15 21% 13 8 —Prev, 1033~ EHigh. Low. Stock and Dividend Rate. Gen Realty & Util pf. Gillette Sat Ras (1).; GlIK SatRpt (5). Co.. Gold Dust (1. Goodrich (B F) . Goodyear Tire&Rub., Goody'r T&R 1st (2). Graham-Paige. Great Northern p! Great Northern Or. Great West Sugar. Grigsby Grunow . % Guantanamo Sugar. . e ——— et 14% 9% Hahn Dept Stores pf. Hercules Powder 1% Hershey Choc (5). Hershey Choc pt (41 Homestake Min (9). Houston O1l... Houston 01l (n Howe Sound (40c)... Hudson & Man (2%). Hudson Motor Car Hupp Motors. Illinois Centra! Inland Steel. Inspiration Copper Insuranshrs Del 15¢.. Insuranshares (Md). Interboro Rap Trans. Int Agriculture...... Int Bus Mach (6).... Int Cement. . Int Combustion. Int Combustion pi Int Harvester (60e Int Hydro-Elec (A Int Merchant Marine Int Nickel of Ci Int Paper & Pwr Int Printing Ink Int Salt (1%) Int Silver.. Int Silver pf. Int Tele & Teleg. Interstate Dept St. Island Creek Coal(2) —— 23% 12% Johns-Manville..... —_— 8% . 6% Kayser (J) & Co..... Kelly Spring Tire. Kelvinator Corp. Kennecott Copper. Kimberly-Clark. Kresge (S S).. Kresge (SS) pt (1) Kroger Grocery (1. Lambert Co (4)..... Lehman Corp (2.40).. Lehn & Fink (2). Libbey Owens Gl Lizg & Myers B (+ Taly Tulip Cup (1%) Lima Locomotive.. Link Belt (80c) Liquid Carbon Loew's Inc (1) Loft Inc Loose-Wi s (2 Lorillard (P) (1.20).. Lou Gas&El A (1%). Touisville & McCall Corpn (2)..., Mclntyre P M(11%). 4 McKeesport TP (4). 8% B 17% 503 6 104% 1% % 14 3 104 % 2% 3114 10% 454 2 2 31% 43% = 4 % 6% 19% 9% 35% 864 18 2% 3 8 5% 5 4 2% 1% % 4 33% 2 42% 28 96 80% 1% 6% 1% 14 LI 20% 15 121 1% % 1% [ . % 3 6 15% 18 1% 4% 5% 8 13% % 124 19% 13% 22% 3 2% 55 1% 12 89 % % 2 4 Pet Milk.... McKesson & Robbins Mack Trucks (1).. Macy (RH) & Co (2). Magma Copper Manatl Sugar pf..... Manhat Elev mod gtd Marine Midld (80c).. Marmon Motor Car Marshall Field & Ce Mengel Co. s Mid Continent Petm.. Minn Moline Pow Mo Kan & Texas. Missour Pacific... Missour{ Pacific pf... Montgomery Ward Mother Lode. ... Motor Meter G & El.. Motor Products. ... Mullins Mfg pf Nat Cash Reg (A). Nat Dairy Prod 1.20 t Steel (50¢c).. Supply ph. Surety.... NY & Harlem (5).... N YN & Hartford. NYNHG& Hartpf... N Y Ont & Western N Y Shipb’ldg (10¢)... Noranda Min (a1.10). Norfolk & West (8).. Norf & Westn pf (4). North Am Aviatfon. . North Am (b8 %stk) . North Am Ed pf (6) . North German Lloyd. Northern Pacific...... Norwalk Tire & Rub. Ohlo Ofl....... Oliver Farm Equip. Oliver FEq prpf A Otis Elevator(60c) Otis Steel. . Otis Steel pr Owens 111 G Pacific Coast Pacific Coast 2d pf. PacificGas & El (2).. Pacific Lighting (3). Pacific Tel & Tel (6). Packard Motor Car, Panhandle Pro&Re! Penick & Ford (1) Penney (J C) (1.2 i Penna RR (h50c) Peoples Gas Chi (5). Pere Marquette pr pf Petrol Corpof Am... Phelps Dodge. .. Phila&Read C&1I... Philip Morris&Co(1) Phillips Petroleum. ., Plerce Ofl. ..coecvnnns Plymouth Ofl (1).... Proctor & Gam(1%). Proc & Gamb pf (5).. Pub Sve NJ (2.80)... Public Sve NJ pf (6). Pullman Corp (3).... PureOfl........ Radio COrp........ Radio Corp pf (B). RR Sec 111 Cent Stk. . Raybestos-Man (60¢) Reading Rwy (1).... Remington-Rand.... Reo Motor Car. Republic Steel. Reynolds Tob B (3).. Safeway Stores (3).. Safeway Strs pt (7 St Joseph Lead St L-San Fran pi Seaboard Atr Lin Seaboard Oil (150 Sears Roebuck. Second Nat Inv Seneca Copper. Servel Inc. .. Shattuck(FG) (24¢). Shell Union Oil . Stmmons Co. Skelly Oil. . Socony Vacuum 40c. 8o Port Ric Sug 1.60. Southern Cal Ed(2).. Southern Pacific. Southern Railway... Southern Rallway pf So Ry M & O ctfs(4). Standard Brands (1). Stand Gas & Elec Stand Gas&El pf (4). Stand O11 Calif (2). Stand Oil Kansas. Stand OII N J (1) Sterling Secur (A). Jiewart Warner. Stone & Webster. Studebaker Corp. Studebaker pf. Sun Ofl pf (6)..... Superheater (50c. Superior Oil. THE NEW YORK Received by Private Wire Direct to The Star Ofice. Yesterday's Bales Add 00. High. 1 6 70 70 172% 172% 1 11 2% 2% 8% 13 3% 1% 13% 13 124 12% 21 2% 2% 2% 151 155 16% 15% 8 8 1% 1% 30% 29% 141 144 191 50 214 31 31 6 6w 1 1 10% 10 7 6% % 1181 118 9% 795 +01 + 14+ FEEEE $w s Re | - ¥ THE EVENING STAR, WASHINGTON, D. C, WEDNESDAY, MARCH 29, 1933. Yesterday's 1833~ Stock and Low. Dividend Rate. 10% Texas Corp (1)..eeat 15% Tex Gulf Sulph 1% Tex Pacific C 1l. 4 Tex Pacific Lamd Tr.. 1 Thermoid C* .o . 1. ~Prev. Sales High. 5 3% Tide Water @ sso 26% Tide Water Assoe pf. 1% Timken-Detroit Axle 13% Timken Roller Bg(1) 2% Transamerica Corp.. 2% Tri-Contl Corp...... 2 Truscon Steel. ., 9% Und-Ell-Fisher(60c). 19% Union Carb & C (1)., 81 Un Ol of Calif (1) 64% Union Pacific (§). 63 Union Pacific ptf (4) 10% Un Tank Car (1.40). 16% Unit Alrcraft, 10% Unit Carbon - - Ba2onBnl0 moubinuSunre 14% Unit Gas&Im ( 3% U S & Forn Secul 7 USFreight.... 18 USGypsum (1) 101% U S Gypsum pf ( 13'% U S Ind Alcohol 2% U S Leathe 4% U S Leathe 6% U S Pipe&Fdy (5 2% U S Realty & Imp. 2% U S Rubber... 54 U S Rubber 1st pf. ! 13% U S Smtg & Ref (1).. 391 U S Smtg&Ref pf3% 23% U S Steel..... . 53 U S Steel pf (2)..... 9914 Univ Leaf Tob pf(8). 2% Util Pwr & Lt (A)... - 2 - JOTSTOIOTOTSIOTG - - 10 39 108 6 Add 00. High, 1% Wabash RR . 6% Waldort 8y: 80% Walgreen pt (6%). 2% Warren Bros. . 34 . West Pa Elec A (7) 35 West Py Elec pf (6).. 96 West Pa 1 W 34Y% Wrizley 13% 5% [ b el 1 2 10:30 AM., P.M.... l+1+101 FEFRFEER FFPFFFEE 4% 1n stock. stock. e Ps 2% in stock. o Payable in_scrip. | = 4§ Plus ‘estern Dairy pf B. 19 Wilson & Co pf 25% Woolworth (2.40) 14 Worth'n Pump pf A 14 Worth'n Pump pt B 4% 2% Yeliow Truck'....... 7} Youngstown Sh&Tn. 3% Zonite Products..... Sales of Stocks on New York Exchange. Dividend rates as given in the above table are the annual cash payments based on the latest quarterly or haif-yearly declarations. 5Unit of trading less than 100 shares. aPaid this year—no resulsr rate. b Payable stocl el b,.:hll" pe 1 ferred K. o special pref stoc m Pald_Iast year—no resular iate D PIus 5% A srock FINANCIAL. Pwrpt (T).. 19 - e SR~ (Wm) (3) 36% 2% 10% “~ 104 % 100,000 390,000 12:00 Noon. + 290,000 2:10 P.M.. . 450,000 1 Partly extra. _ Plus tock. fPlus 8% in stock. h k. k Plus 3 CHICAGO LIVE STOCK MARKET CHICAGO, March 29 (#) (United States Department of Agriculture).— Hogs, 17,000 including 5,000 direct; general market mostly steady with yes- terday; packing sows firm; bulk, 170- 300 pounds, 3.80a4.00; top, 4.05; light lights, 3.60a3.90; pigs, 3.50 downward; most packing sows, 3.40a3.50; light light, good and choice, 140-160 pounds, 3.60a3. light weight, 160-200 pounds, 3.7584.0 medium weight, 200-250 pounds, 3.85a4.00; heavy weight, 250-350 pounds, 3.65a3.90; packing sows, medi- um and good, 275-550 pounds, 3.25a 3.60; pigs, good and choice, 100-130 pounds, 3.25a3.60. Cattle—Receipts, 7,000 head; calves, 1.500; fed steers d yearlings slow, but mostly steady, with strictly good and choice offerings scarce and strong; other killing classes generally steady; largely steer and yearling run; senti- ment weak on in-between grades, but all interests in market on early rounds; best yearlings early, 6.25; weighty bul- locks, 5.25; largely 4.25a5.75 market; talking 25-50 lower on vealers. Slaugh- ter cattle and vealers: Steers, good and choice, 550-900 pounds, 5.50a7.25; CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, March 29.—Following is today's summary of corporation news prepared by Standard Statistics Co., Inc, New York, for the Associated Press; Automobiles and Trucks. Studebaker Cor poration—Working force now totals about 2.000, or around one-third number employed prior to the bank holiday. In seven days ended March 26 company received orders for 600 automobiles. Automobile Parts and Tires. Briggs Manufacturing Co.—Dagenham, England, plant of Briggs Body, Ltd. subsidiary, has been forced to suspend clon:w adjacent factory of Ford Motor 900-1.100 pounds, 5.25a7.25; 1,100-1,300 | Co. pounds, 4.75a7.00; 1,300-1,500 pounds, 4.2526.25. common and medium, 550- 1,300 pounds, 3.75a5.25; heifers, good and choice, 550-750 pounds, 4.75a6.00; common and medium, 3.50a4.75; cows, good, 3.00a3.50; common and medium, 2.5023.00; low cutter and cutter, 1.75a 2:50; bulls (yearlings excluded), good (beef), 2.70a3.25: cutter, common and medium, 2.60a3.25; vealers, good and choice, 4.00a5.50;" medium. 3.50a4.00: cull and common, 3.00a3.50. Stocker and feeder cattle: Steers, good and choice, 500-1,050 pounds, 4.50a6.00; common and medium, 2.75a4.50. Sheep, 15,000; very little done; few sales steady to weak; spots, 10a15 lower; * | good to choice native lambs scaling 70- % 90 pounds, 5.25a5.75; holding best fed Westerns above 5.85: lambs, 90 pounds down, good and choice, 5.25a5.85; com- mon and medium, 4. pounds, good and choice, 5.00a5.75; 98- 110 pounds, good and choice, 4.7525.40; ewes, 90-150 pounds, good and choice, 2.00a3.00: all welghts, common and me- dium, 1.25a2.50. By the Associated Press. NEW YORK, March 20.—A heavy flow of mail orders to wholesale mar- kets has helped to enliven merchandise trading, according to dealers. It is said that interest centers in ready-to-wear, — | with prompt deliveries sought in most 11+ +1+ + EIEEFEFEEE F RN FRELEIF & FES FEFEES Jf__ instances. ‘The retail shoe trade has taken on more life since the start of the month, says Ward Melville, president of the Melville Shoe Co. Official quotations on 1933 lines of blankets, announced by the Pepperell Manufacturing Co. and the Nashua Manufacturing Co., range from un- % changed to slightly lower. Demand for gloves for Spring wear has picked up considerably in the past week, dealers report. It is said that .| stores are sending in requests for a . | wide variety of shades in kid merchan- dise. Indusiries which use wool are closely following the course of the mar- ket in view of estimates that the do- mestic supply will drop about 20,000,000 pounds behind last year's total. It is said that some all-wool blanket mills are inclined to move cautiously on nam- f ing prices. May Remove Stocks From. List. NEW YORK, March 29 () .—A rec- ommendation will be made to the gov- | erning committee of the New York Stock Exchange to strike from the trading list the common and 7 per cent preferred stocks of Willys-Overland Co. and the common shares of Paramount- Publix Corporation, it was announced today. Both companies are in receiv- ership. NEW YORK BANK STOCKS NEW YORK, March 29 (#).—Over- the-counter market: (Quotations as of 2 o'clock.) Banks. Bid. kel Bank of Manhattan (2) jonal (2) . National 'City Public (2) Bankers' (3) . Brooklyn Trust Central Hanover ( Chemical (180) . n Empire (1 Guaranty N s Title G & T (. United States (60) *Includes extra. INVESTMENT TRUSTS NEW YORK, March 29 UP).—Over- the-counter market: Quotations as of 12 o'clock. D Tr s Corporate Trust_Accu Gorp, Tr, Accum Ser Mod. Dividend Shrs Fund Tr Sh M st Tr. . Nation Wide Sec vic N Y Bk Tr Shrs Nor Am Tr Bha, or Am Tr Firestone Tire & Rubber Co. to meet tire price reductions made by cther con- cerns. Company does not plan to dis- continue any lines. Houdaille-Hershey Corporation—1932 deficit $640,523 vs. net income $116,091. Kelrey-Hayes Wheel Corporation— Plant at Dagenham, England, has sus- pended operations because of strike which closed the adjacent factory of Ford Motor Co., Ltd. Building, Real Estate and Related Lines. Yale & Towne Manufacturing 1932 deficit, $780,222, vs. deficit $726,250. Food Products. Hershey Chocolate Corporation de- clared quarterly dividend of 75 cents on common stock; previously $1.25 was paid quarterly on this issue. Penick & Ford, Ltd., president states | earnings of company for first quarter of 1933 would be’ fully equal to those of the like 1932 period; in quarter ended March 31, 1932, company earned 44 cents on 400,000 common shares out- standing, before Federal taxes. Household Products. American Ice Co. stockholders ap- proved reduction jn suthorized pre- ferred stock from 150,000 to 140,000 shares, in common stock from 600,000 to 560,000, and in stated value of com- mon stock from $25 to $5 a share; credit to surplus; pay rolls of company | this vear will be reduced $1,000,000, as | compared with 1932, | Kelvinator Corporation—Company is | marketing beer-cooling equipment. Leather and Shoes. American Hide & Leather Co. net in- come excluding Federal tax adustment for prior years in 36 weeks ended March 4, was $313,709 vs. deficit of $245,654 in corresponding period. Machinery. ‘Waukesha Motor Co. has received orders for 800 engines; plant capacity has been stepped up from 18 per cent to 25 per cent. Metals (Non-ferrous). Aluminum Co. of America—March tonnage of company largest since Oc- r, 1932, Miscellaneous. American Can Co. declared regular quarterly dividend $1 on common stock. | _Asbestos Corporation, Ltd., 1932 deficit | $711,397 vs. deficit $879,580, oil Atlantic Refining Co. advanced tank wagon and service station prices of gasoline ; cent to 1 cent a gallon in Philadelphia, Pittsburgh and Wilming- ton; also met mark-up of Standard Oil | Co.'of New York in New England States. Pan-American Petroleum & Transport Co. stockholders approved reorganiza- tion plan providing for consolidation of Southern subsidiaries, changing com- mon and common stock into common stock of a single class of $5 par value; distribution to present common or com- mon B stockholders of stock of new subsidiary on basis of one share for each share held; acquisition by company | operations as result of strike which | Railroad later step will result in a $11,200,000 | . of remaining 50 per cent interest in American Ofl Co.; the 250,000 shares of Pan-American preferred, none of which is outstanding, will be eliminated your ally OF THE DISTRICT #OF COLUMBIA Under United States Government: Supervision take is not always convenient, however, to call person- and 68,000 class B common shares held in treasury will be cancelled. Socony-Vacuum Corporation subsid- | lary, Standard Oil Co. of New York, in- creased service station and tank wagon gasoline prices 1 cent a gallon through- out Rhode Island, Massachusetts and some parts of Connecticut. Raliroad and Railroad Equipment. Ath.n';{: Coast Line Railroad, Feb- ruary net operating income up 0.5 cent; 2 months 34 per cenpm pe Denver & Rio Grande Western Rail- road, February deficit after charges, $470,102 vs. deficit of $431,787; 2 months’ deficit, $811,238 vs. deficit of | $778,603. International, Great Northern Rail- road, February net opera income, $49,768 vs. net operating deficit, $55.- | 783 in February, 1932; 2 months’ net operating income, $111,513 vs. net de- ficit, $119,383. | Norfolk Southern Railroad, February net operating deficit, $82,664 vs. de-| ficit, $70.494; 2 months’ deficit, $181,- 574 vs. deficit, $145510. New York, New Haven & Hartford | seeks permission of I. C. C.| to guarantee $2,000,000 first mortgage | 4% per cept bonds of New York, West- | chester & Boston Railway now held in its treasury. FOREIGN BUSINESS TONE IS UNSETTLED. Commerce Department Receives TUnfavorable Reports From World Centers of Trade. By the Associated Press. Foreign trade dispatches to the Com- merce Department reflect, generally, | unsatisfactory business conditions in | important world centers. United Kingdom exports and imports in February showed a further decline, partly owing to the shorter month; the import reduction as compared with the same month last year was much greater than the fall in exports. In Austgia a banking reform program, involving government financial aid, has been initiated by the government and has produced a favorable local reaction. Argentine exports continue to move in smaller volume, with cereal prices lower. Conditions in Brazil continue to improve slowly, with manufacturing | normal and the domestic outlook en- couraging. Market Averages By the Associated Press. S 4 £ Yesterday .. STOCK EXCHANGE ||STOCKS FLUCTUATE IN NARROW RANGE 3 Rally at Close of Yesterday's Market Fails to Carry Through, - .BY"GEORGE T. HUGHES, Special Dispatch to The Star. NEW YORK, March 29.—Stocks fluctuated through a narrow range to- day, closing with moderate losses Volume of trading was small all day and once again no trend was indicated. The feature of the market today, as far as it had any. was its failure to rally when commodities did. Ordinarily the markets for staples and for se- curities react on each other, but there was no correspondence today. Stocks may have been influenced by the weakness in German dollar bonds, but there was no way of establishing that connection. ‘Wheat closed off 4 to up %, but earlier in the day it had displayed considerable strength, and the same was true of corn. Sugar was higher in the future market. Cotton was heavily bought, Except sterling, the foreign exchanges were lower. The declines were slight, however, and not significant. Electric power output for the week ended March 25 was down 6.9 per cent from the same week a year ago. Last ‘Wednesday the decline was 10.6 per cent, 50 that was an improvement. The Iron Age reported steel production up to 15 er cent of capacity from 14 per cent last week, but added that the change was due to special circumstances and not indicative of general improvement. From Washington came conflicting re- ports as to progress or the lack of it toward control of the oil industry. The railway program was still to be heard from. Meanwhile, attention was di- verted more and more to the deflation= ary aspects of the administration's action on other subjects. ‘The market opened fractfonally lower, but then heardened, and by noon was about where it left off last night. Amer- ican Telephone reacted within a fraction of its extreme low before rallying and the market as a whole took its cue from the action of this stock. It was conceded that downward revision of the dividend was indicated. The only doubt was as to the extent of the cut and as to how far it had been discounted in the price. A feature was the break in Hershey Chocolate following the announcement that the dividend had been reduced to 75 cents querterly against $1.25 previ- ously paid. The first sale of the stock today was down nine points. Subse- quently it recovered a part of this loss. CARLOADING FIGURES SHOW FURTHER GAINS By the Associated Press. NEW YORK. March 29.—Further improvement in freight traffic last week was reflected in loading reports made public today by leading railroads. New York Central's volume totaled 72,976 cars, against 70,694 in the pre- vious week. Chicago, Rock Island & Pacific handled 17,597 cars, agains :;5},‘?170 él;nflthe v‘éekuended l:lrch 18, e cago, Burlington Quine 1‘?0652‘6 17135 cars, gc':mpnred '13 Other figures were: St. Louis Termi- nal, 26273, against 24,194: Missouri Pacific, 17,192, against 15.620: Interna- tional-Great Northern, 5061, against 4,239, Gulf Coast lines, 2,079, against 2,167; Missouri-Kansas-Texas, 6.008, against 5414; St. Louis-San Francisco, 10,858, against 10,223. « Nearly 5,000 houses were built in Ed- inburgh, Scotland, last year. FOR SALE $5.000 First Trust Notes, or any part thereof. yielding 6%, secured by detached N.W. modern brick 'house. Client must make sacril be with acerued parchased st dhconat Wik Soov SOTERIOS NICHOLSON ATTORNEY 1424 K N.W. Dist. 1981 s have continued to pay dividends throughout the depression. Previous da; Week TS Toansss! St PP > 15 b eaa B3t 225501223, DI MRS DDA aBwaao hhin btab BOBDWWNIRDE WD 2RISR wuoobw 2 =% ] d £3 [y - acmIna5S anaaa! 8552 223020030220 BoBERIRIFSIZS iR FIEST22 25azaxoSanay SE33a533333a Boiomisamis D 20013950 g 8372233232333 e statata e a: bt (Copyright, 1933, Stand. Statistics ANNUITY PROVIDES NCREASED _. ‘b UPREME NCOME ™" JECURITY BOOKLET MAILED ON REQUEST LEROY GOFF 1036 Woodward Sponsored by ADMINISTRATIVE AND RESEARCH CORPORATION Distributed by a national grous of investment houses and banks. os f ou en between 25 and 35... have been having a tough time these last few years. Some newly married, many with young children, haven't been able to buy life insurance you KNOW you need. For you this new step-up policy is . Com- plete protection for $10.65 a thousand at 25, $12.34 at 35, for the first ye: Presented by: Raymond L. Bland George C. Campbell James A. DeForce To Pay bills promptly. It Albert E. Peart, Jr. Frank D. Roach Dwight T, Scott John H. Snyder Lewis E. 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