Evening Star Newspaper, March 31, 1933, Page 14

SCOMPANY DECLINES - “Drop of $17,602 Is Reported in Income for Month of February. ‘BY EDWARD C. STONE. . ‘Total net operating income of the Fotesapeake & Potomac Telephone Co., %4n February, amounted to $163,580, | against $181,182 in the corresponding month last- year, a decrease of $17,602, according to the monthly financial state- Jment filed today with the Public Utili- . ties Conimission. 3 Operating revenues totaled $739.609 lggainst $790863 in February, 1932. -":)gpenung expenses called for $517,609 compared with $549,657 a year ago ‘which was a substantial cut in operat- costs, leaving net operating reve- ues of $222,000 against $241,296. “ Taxes were slightly lower on account the lower income and there was also falling off in non-operating income. terest deductions required $25,792 gainst $19,475 a year ago, leaving a lance before dividends of $138.526 in jomparison Wwith $165940 in the like onth in 1932. During the month 2,645 mlephon& were connected and 3.119 disconnected, a loss of 474 phones. In February, 1932, there was a gain of 845 phones during the month. Telephone calls during the month totaled 17,939,000 against 19,- 234,000 in the same month last yea The number of telephones in service at the end of the month was 178,254 hich is & reduction of 2,798 prones. Two Months Report Also Made. ; Chesapeake & Potomac Tele- p 'g:: Co. Siso sammarized the financial for the first two months’of the year. This showed operating of $1,510,906 against $1,599,641 year. ! Operating ‘expenses in the two onths mul;ed u,ova.ml callgm ith $1,108,042 a year ago, lea :inz revenues of $434,425 against 1,599, Taxes called for $115,000 compared with $120,000 in the like period a year , leaving a net operating income of 9,109 in éomparison $371,153. Non- yerating income fell off. Interest deductions totaled 852,484 pared with $36,944, leaving a bal- “ince before dividends of $268,553 against $342,255 in the like 1932 period. 4. Telephones in service at the end of “the two-month period numbered 178,- 264 compared with 181,062 at the same time last year, . March Bank Clearings Reported. w. Bank clearings in Washington and all over the United States in March showed & sharp falling off from other smonths this year and last yeer, accord- iing to the reports available today. i ‘Thousands of checks on banks in all “parts of the country have been held up “'due to the banking situation. Even be- dore the Naticn-wide bank holiday was declared by the President, many banks were_on ted withdrawal operating sschedules which caused a tremendous check tie-up. Then all the banks in #the ‘United States were closed entirely “for & week which put the check busi- iness at a complete standstill. In addition to those two handicaps wmust be added the fact that a good {many bauks did not reopen after the _holiday when all such institutions were g to obtain Covernment licenses. ¥ these reasons check transactions “4were forced down to a low ebb every- .where, although during the lest week of the month the number of canceled jehecks has been much nearer normal + Washington bank clearings in March ttotaled $32,644,947.37, ISIM $72,567,- 298 in January and $61, 12.2!;293{211 Feb- ,807,544.54. first three months of the the bank holiday a good many checks were cashed by Government ,.'wkmml't-h thie hul:lxl'!', S0 me ’lxlmgt ~figured e Jocal clearings. - zHe also continues to draw fewer checks these days on account of the 2-cent +Government tax on cach check drawn. Paying bills with cash has become pepular. Invesiment House in New Home. o Alexander Brown & Sons, investment b new y at firm, moved into quarters toda: 734 Fifteenth street northwest, across Zthe street from where the concern has been located for many years. ‘The firm of Alex Brown & Sons has the distinction of being the oldest bank- =iny house in the United States. It dates back to the year 1800, when it was es- Stablished in Baltimore by Alexander “Brown. For seven generations since “his descendants have successfully guided Zthis historic old house through every Sfinancial storm _and business crisis hich has beset this Nation. Its lead- Sership now is in the hands of Mr. =B. Howell Griswold, jr, who is the Exenior partner. Other partners include “Alexander Brown Griswold, Thomas SHildt, Walter N, Stromenger and Harry =F. Swope. = The Washington office was established Sin 1921 as a branch of the investment gzpartment. under the management of wrence M. Proctor. Its personnel to- Zday includes Mr. Proctor and Robert | 2T. Norman, John W. Haines and Peter | Hamilton. | Comment in Financial District. Z In light trading on the Washington #$Btock Exchange today, Washington Railway & Electric stock sold at 843 23nd Potomac Electric Power 52 per nt preferred at 106. George Bowie Chipman, resident part- per of Harriman & Co., has been con- fined to his home for a few days with fliness. He will be back at his desk ortly | The Virginia Electric & Power Co.'s ! atement for the 12 months ended | February 28 compares as follows with {the like period in 1932 i 1933, 1932, l(iro.ss $15,140,553 $16,306,017 Net after taxes.. 7,261,198 7,746,576 ‘Net income 3,554,408 3,884,513 *After taxes, charges and depreciation Announcement is made of the ap fpointment of Harry J. Kamerow as a | Pnember of the agency staff of the| gAcacia Mutuel Life Insurance Co. of | Prior to entering the insur- | fence ficld Mr. Kamerow enjoyed wide ercantile experience and for 10 years as on the executive stail of the Hecht | 0. . | American Ice Retires Stock. { Reduction in capital stock by retire- henl of 10,000 shares of preferred stock jand 40,000 shares of no-par common Swas approved by American Ice Co. tockholders in their annual meeting, | Reduction in the cepital represented | ¥ 500,000 common shares to $5 a share | rom $25 a -share, 00,000 credit to surplus, and reduction the authorized preferred stock to 40,000 shares and in the common stock 560,000 hares, and the stated capi- 1 to $16,800.000, also were approved. C. C. Small, president, said he was ry hopeful about the prospect of busi- jess resulting from the return of beer. rolls this year will be reduced $1,- ‘iooo compared with last year, he . suding in $11,- PARIS BOURSE PRICES. PARIS, March 31 (#).—Three per t rentes 70 francs 40 centimes; 412 — cent, yentes_86.25. Exchange on London 87.31. Pz was quoted at 25.44%, T4 The dol- Adams Express. . 42 Adams Express pf... 10 Adams Millis (2). 6 Addressograph. 7% Affiliated Prod 1.20. .. | 47% Air Reduction (3)...x % Airway Elec Appl...; 11% Alaska Juneau(6§0c).. 1 . 1% . 70% Allied Chem & D (6). 6 Allis-Chalmers Mfg. 84 Amerada Corp (2) 7% Am Ag Chem (Del 1 2% 91 Am Brake Sh&F 60 AmCan (4)........0 Am Car & Foundry. . Am Chain...... Am Comc’l Alcoh Am & Foreign Pwr. .- 6% Am&Forgn Pw pf(6) 8% Am & For Pw pf () .. 5% Am & For Pw 2d pf. 29% Am Home Prod*(3)... 3% 4% 5% Am Locomotive. 8% Am Mach&Fdy (. . 4 Am Power & Light... 9% Am P&L $5 pf (1%).¢ 11% Am P&L $6 pf (1%).. 4% Am Radiator. .. 5% Am Rolling Mills. 10% Am Sm & Ref....... 20% Am Sm & Ref 6% p. 31 Am Sm & Ref 7% pf. 102% Am Snuff pt (6). . 4% Am Steel Foundry 30 Am Stores (12%). 21% Am Sugar (2).. 89% Am Tel & Tel (9). 49 Am Tobacco (5)..... 50% Am Tobacco (B) (5). 5 Am Type Founders. . 11% Am Water Works(1) 10% Am Wat Wks ctfs(¥) 3% Am Woolen. . 22% Am Woolen pf 5 Anaconda Copper. 8% Anchor Cap (60c). 95 Archer-Dan-pf (7) 1% Armour of Tl (A). % Armour of Il (B). 7 Armour of Il pt. 3% Asso Dry Goods 15 Asso Dry G 2d pf. 12% Atlantic Refining(1), 61 Atlas Powder pf (6) 81% Auburn Auto (2) 5% Aviation Corp ( 3% Baldwin Locomot. ,.i 8% Baltimore & Ohio.... 9% Baltimore & Ohio pf. 20 Bang & Aroost (2)... Barnsdall Corp...... Bayuk Cigars. . 408 .3 SofnSunemman BeBora s > Ba¥ oo Boa 2 S H Bayuk Cig 1st pf(7). x40s 1 Beatrice Creamery. . Bendix Aviation Bethlehem Steel Bethlehem Steel pf. . Bohn Alumn & Brass Borden Co (1.60).... Borg Warner. Briggs Mfg Co % Bklyn Manhat Tra Bklyn Man Tr p? (6) .x Bklyn Union Gas (5). % Brunswick-Balke.... Bucyrus-Erie pf (2) Bush Terminal. % Butte Copper & Zi 8% By AM).. 7% California Packing. . 2 Calumet & Hecla.... 7% Canada Dry'G A (1).x 14 Cent Aguirre (1%) 48 CentRRofNJ. .- 5% Cerro de Pasgo. 8 Checker Cab Mfg. 24% "hes & Ohlo (2%)... 14% Chesapeake Corp (2). 1% Chi Mil StP & Pac pf. 3 Chi & Northwestern.. 2% Chi Pneumatic Tool.. 4 ChiR1&Pac6% pf.. 4% ChiR 1 & Pac 7% pf. 18 - nroBuwBonk 10: o OO0 MG Do 6% Chi Yellow Cab (1).. 150s 5 Chickasha Cotton Ofl 7% Chrysler Corp'n.. ... 7 Colgate-Palm-P (1)., 51 Colg-Palm-P pf (6).. 41 Colo Fuel & Iron. ... 10% Coiumbia Gas (b1).. 59 ' Columb Gas pf A(6). 6% Columbia Pict vtc. .., 23% Columb Carbon (2).. 4 Commercial Credit. . 18% Comel Cred pf (1%). 70 Comecl Cred 1st(63%).. 18% Comel Cred pf B (2). 18 Comcl Inv Trust (2). 9 Comel Solv (60c).... 1% Comwlth & Southn. . 22 “Comwlth & Sou pf{6) 7% Congol-Nairn (60¢).. 4 Consol Clgar. .. 5% Zonsol Film pf. 42% Consol GasN Y (4). 214 Consol Lauridries 5 Consol Ofl Corp..... Cons RR of Cuba pf.. Contl Baking (A).... Contl Can (2)....... Contl Diamond Fibre Contl Insur (1.20) Contl Motors. .. Contl Ofl (Del). .. Corn Products (3) Coty Inc. Cream of Wht 12% ., Crosley Radio. . Crown Cork & Sea Crown C&S pf (2.70). Crucible Steel pf. Cuha Co. Cuba R R Cuban-Am Sugar. “uban-Am Sugar p Curtis Publishing p: 1% Curtiss- Wright 37% Delaware & Hudson.. 17% Del Lack & Westn... 17% Diamond Match (1). 12 Dome Mines ($1.30). x 10% Doug Afreraft (75¢) 29% Drug Ine (3). 12 Duplan Siik (1 32% Dupont de Nem 99% Dupont deN db pf(6 50 Eastman Kodak (3).. 3% Eaton Mfg Co.. 11% Elec Auto-Lite. . 1 Elec & Musical Instr, 3% Elec Pwr&Lt....... 8% Elec Pwr&Lt $7 pf... 21 Elec Storage Bat (2). Engineers Pub Svc. . Fashion Park Asso. Fed Mines & Smit Fed Water Servic Fidelity-Phoen 1.2 Fifth Ave Bus (64c). Firestone T&R pf(6) First Nat Strs (2%) Foster-Wheeler. . Fourth Nat Inv 1. Fox Film (A) Freeport-Texi Fuller Co pr pf. 2% Gen Am Investors 13% Gen Am Tank Car 13 Gen Baking (2) 2% Gen Bronz 13 Gen Cable 2% Gen Cable (A). 6% Gen Cable pf. .. 10% Gen Electric (40¢). 11% Gen Elec spec (60c) 21 GenFoods (2)... % Gen Gas & Elec (A 35% Gen Mills (3).. 10 Gen Motors (1) 65% Gen Motors pf ( 2% Gen Public Service. 13% Cen Ry Signal (1), % Gen Realty & Util... 5% Gen Kealty & Util pf. 215 Gen Refractorfes. ... 12% Gllette Saf Raz (1). 62 Gillette Saf R pf (5).x 3% Glidden Co. . 3 Gobel (Adolf). 12 Gold Dust (1 20 3 Goodrich (B F) 9% Goodyear Tirek] 27% Goody'r T&R 1st (2). 3 1 40 2 1 4 1 1 1 2 3 90s 408 8 316 46 28 1 15 T - FS=TYSIEE T - I 0 [N B 22y 2Fxsss® sPTES REtEs kb O TR PEFRRFREL FRFEEE ¥ HEEF EEF B F L ¥ ul'+ll EEE [N FEF FRREEF £ I+1++1 11+ 1+ FEEFEFEEFFRES it TS & 2% 9% 20% 174 15% 3% 10 15% 5% 16% 21% 38% 2% —_— 28% 23% 110 16 5% 1% 1% 10% 18Y% 23% 31% 46 17% 2% s 4% 45% 31% 10 6 11% 3% % 32% 28 4% % 15 T21% Pacific Gas & BI (2). x 20 8% Gotham Silk Hoslery 1% Graham-Paige. 8% Granby Consol. 3% Grand Unfon. 15% Grant (W T) (1). 6% Great Northern pf. 5% Great Northern Ore 7 Great West Sugar % Grigsby Grunow. 3% Guantanamo Sugar.. 2% Gulf Mobile&Nor pf. 2 Gulf Mobile & North. 1 16% Gulf States Stl 1st pf 308 1% Hahn Dept Stores. .. 61 Harbison & Walker. . 15 Hercules Powder 134 145 Homestake Min (9).. 8% Houston Oil..... 1% Houston Oil (new). 5% Howe Sound (40¢)...x 11% Budson & Man (2%). 3 Hudson Motor Car... 10% Illinois Central..... 17 Illinois Central pf. 31 Illinois Cent11(4). % Indian Motor Cycle. . 19% Ingersoll-Rand(1%). 2 Inspiration Copper. . 2% Insuranshrs Del 15c. 4% Interboro Rap Trans. % Int Agriculture..... 75% Int Bus Mach (6) 2% Int Carriers Ltd 20c 6% IntCement...... 13% Int Harvester (60c) 3 Int Hydro-Elec (A) 6% Int Nickel of Can.... 2 Int Rys Cent Am ctfs 13% Int Salt (1%) 24% Int Silver pf. 5% Int Tele & Tel 1% Interstate Dept St. +1100 e a¥x B TaE INESEERBE 54 | 23 Jewel Tea Co (3).... 124 Johns-Manville.. ... 106% K C P&Lt 1st pfB(6) 12% Kan City Sou pf (2).x 314 Kelvinator Corp. 7% Kennecott Copper. 1% Kinney (G R) Co 5% Kresge (S S). 90 Kresge (SS) pi 27 Kress (S H) (f1).. 14% Kroger Grocery (1) 2214 Lambert Co (4).. 3% Lee Rubber & Tire. 1 Lehigh Valley Coal 8% Lehigh Valley R R. 8714 Lehman Corp (2.40) 4% Libbey Owens Glas: 49 Liggett & Myers(15). 49% Ligg & Myers B (15). 10 Lima Locomotive 10% Liquid Carbonie. 81% Loew’s Inc (1). 1% Loft Inc. 10% Lorillard (P) (1.20).. 15 Lou Gas&El A (1%). 21% Louisville & Nash. ... 13 MeCall Corpn (2). . Mclntyre P M(11%). McKeesport T P (4). McKesson & Robbins McKesson & Rob pf.. McLellan Stores..... Mack Trucks (1). Macy (RH) & Co (2). Manati Sugar pf..... Manhat Elev mod gtd Marine Midld (80c) .. Marmon Motor Car. . Mathieson Alk (1%). Mathieson Alk pf(7). May Dept Stores (1). Maytag Co 1st pf. Mengel Co..... Miami Copper. Mid Continent Petm. Midland Steel Prod (] 20s +1111 1 Missouri Pacific pf Monsanto Chem 1% .. Montgomery Ward 1% M urray Corp. . 11% Nash Motors (1). 313 Nat Biscuit (2.80). 5% Nat Cash Res (A). 10% Nat Dairy Prod 1.20.. 16% Nat Distillers 24 NatDistprpf (2%). 434 Nat Lead (5).... 7% Nat Pwr & Lt (1) 15 Nat Steel (50¢) 5 Nat Supply Co. 214 Nat Surety. LELIA+Ll+b) ++ 17% North Am (b8 % stk) . 82 North Amer pf (3). 10% Northern Pacific. 1% Norwalk Tire & Rub, 4% Ohio Ofl......... 1% Oliver Farm Equip 3% Oliver FEqprpf A 10% Otis Elevator(60c). % Otis Steel....... 311 Owens I11 Glass (2) 25% Pacific Lighting (3). 65 Pacific Tel & Tei (6). 1% Packard Motor Car % Park Utah... % Patha Exchange. 5% Patino Mines. . 49 Peoples Gas Chi (5). 4Y; Pere Marquette pf. 4% Petrol Corp of Am. 4% Phelps Dodge. . 21% Phila& Read C&I... 8 Philip Morris&Co(1) 4% Phillips Petroleum. .. 40 Phoenix Hos pf(3%). 3% Pierce Oil pf.... 5 Plerce Petroleum. ... 9% Pillsbury Flour (60c) 6% Plymouth Oil (1).... 19% Proctor & Gam(1%). 85% Pub Sve N J (2.80)... 18 Pullman Corp (3).... 2% Pure Oil...... . 30 Pure Oil pf (2). 5% Purity Bakerfes (1). 3 Radlo Corp. . 6% Radio Corp pf (B). 1% Radio-Keith-Orph. .. 5 Raybestos-Man (60c) 24 Reading Rwy (1).... 25 ‘“Reading 2d pf (2) 2% Remington-Rand 4 Republic Steel. .. 9 Republic Steel pt. 26% Reynolds Tob B (3).. 17% Royal Dutch. 28 Bafeway Stores (3).. 73% Safeway Strs pf (6).. 80% Safeway Strs pf (7). 6% St Joseph Lead. . % St L-San Francisco. 1% St L-San Fran pf.... 15 Seaboard Ol (50c). 12% Sears Roebuck. 1% Servel Inc. 214 Sharp & Do 6% Shattuck(FG) (24c. 4 Shell Union Ofl 28% Shell Union Oil pf. Stmmons Co.......« Simms Petrolm (25¢) Skelly Oil..... . Skelly Ofl pf ww. Snider Packing. ..... Socony Vacuum 40c. 51 So Port Ric Sug 1.60. 43 23% So Port Ric S pf (8).. 10s 119% Southern Cal Ed(2) 6 18% Southern Pacific. 33 15% Southern Railway. ., 6% Southern Rallway pf % Sparks-Withington.: Standard Brands (1). 6% Stand Gas & Elec... . Stand Gas&El pt (4). Stand Gas&El pf (7) x Stand Invest Corp. .. Stand Ol Calif (2) Stand Oil Exp pf (5)., Stand OIIN J (1).. Sterling Secur (A) Siewart Wi & Wi Studebaker Corp. Superheater (50¢). 2 Superior Steel. % Symington (A) ey THll+Li+1M 1 S EFPRF O FFEEFS 1 108 208 [ o 1+ £ 2 1% 14170817% 52 1% | F — % Market Breaks Sharply on LY 5 | intensive advertising campaigns met 1933~ Stock and Low. Dividend Rate. 8% Telautograph (1)... 13 Tennessee Corp 10% Texas Corp (1)...... 15% Tex Gulf Sulphur(1) 1% Tex Pacific Coal&Oil. 4 Tex Pacific Land Tr. 5 Thatcher Mfg Co 2% 33 1 4% Third Avenue. 3% Tide Water Asso Oil. 1% Timken-Detroit Axle 13% Timken Roller Bg(1) 2% Transamerica Corp. . 2% Tri-Contl Corp. . 20% Trico Products(23). 7 Tw:n City Rap Tr pf. 9% Und-Ell-Fisher (50c) 19% Union Carb & C (1).. 8% Un Oil of Calif (1) 641 Union Pacific (6).... 62% Union Pacific pt (4). 5114 Unit Alreraft pf (3). 13% Unit Biscuit (2)..... 10% Unit Carbon... 5% Unit Corp (40¢). 2715 Unit Corp pf (3) 2 Unit Electric Coal. 1 23% Unit Fruit (2).. 9 14 Unit Gas&Im (1.20).. 7 3% U S & Forn Secur. 2 18 USGypsum (1). 1 1% U S Hoftman. . 9 13% U S Ind Alcohol. a1 1 5 3 3 0 3 SarvwaiBungh - M 2 a8 Pnbe axtosoBom 4% U S Leather (A). 614 U S Pipe&Fdy (50¢).x 2% U S Rubber..... 5% U S Rubber 1st pf. 13% U S Smtg & Ref (1).. 43% 39% U S Smtg&Ref pf3l 1% % Vi 1 2% Warren 1 7 Wesson LI 410+ 39% 13% 10:30 AM. 1:30 P.M I+1 11 ~Prev 1933~ Stock and Low. Dividend 33% 25% USsSteel....... 67% 53 US Steel pf (2). 59 % United Stores (A)... L 22 Univ Leaf Tob (2)... 2 22 22 99% Univ Leaf Tob pf(8). 4% 2 UHIPwr&Lt(A)... 14% T Vanadium Corp. ‘ar Chemical. 85% 69% Va Elec&Pw pf (6 ' BALT Yesterday's Sales Ret. Add 00. High. Low. Close, Che. 74 29 26% 27T% -1 59% — % 1 Rate. 100 100 2 2 408 15 k) 2 11 1 108 W 1% Wabash pf (A)...... Warn Bros Pictures. 48 Bros..... Webster Eisenlohr. . O & Sn (50¢) 35 ° West Pa Elec pf (6). 38% West Pa Elec pf (7). 3% Western Dairy pf A.. 1 Western Dairy pf B. . Western Maryland. . ‘Western Pacific..... Western Union. . Westing’se Air B(1).x 11 Westinghouse Elec.. 19 Wilson & Co. . . 2 25% Woolworth (2.40)... 43 34% Wrizley (Wm) (3).. 9% 7 Yale & Towne (60c) 4% 2% Yeliow Truck. 7% Youngstown S| 5% 3% Zonite Products, 2 104 ve table are the annu: or half-yearly declar: res. 1 Partly extr: he a iatest quarter] tios rading less than 100 sha: . Paid this year—no rfiuhr rl?. b Payabl sh cr stock. fPlus 8% io stock. h Plus Flus S1 i special preferred stock in year—no regular rate. k Plus 3% nPlus 5% In stock. STOCKS ARE WEAK IN FINAL TRADING Missouri Pacific Plea for, Reorganization. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, March 31.—Stocks broke sharply in the last hour of to- day’s session, following earlier firmness. Activity increased on the decline and closing prices were around the low of | the session. For the slump the only explanation was the application of the Missouri Pa- cific to the courts for per- mission to effect reorganization under the new banKruptcy law. Some such development had been anticipated for a long time, but it was the signal for an outburst of liquidation.. The chief sufferers were the rails, as was natural, and the Public Utilities, but industrials also gave way. The market ignored the German sit- uation. German dollar\ bonds were acutely weak up till late in the day, when, on an unconfirmed report that the boycott of Jews had been called off, they rallied. But stocks were weakest just when German bonds were staging their recovery. No attention was paid either to the strength in grain, which was pro- nounced most of the day.. Wheat at one time was up 1% cents a bushel. Sugar futures were firm and cotton was not much changed. Foreign exchanges moved against the dollar, except sterling, but that was natural after their recent strength. Trading in stocks was so heavy in the laft half hour that the tape fell a minute behind. Losses of 2 morning, ran into new low ground for the year. Activity in sugar shasss featured the first half of the session. Reports from Cuba were to the effect that the segre- gation plan would be adopted and from Washington came the story that there was & possibility of a change in the Cuban preferential duties from 20 to 40 per cent. Meanwhile sugar futures were quoted around .the highs of the movement. Interest in the stocks took in the shares of the beet sugar raisers, domestic refiners and the hhnm ducers, both in Cuba and in Rico, although if the tariff change sug- gected is made the Puerto Rican com- panies would not benefit. A Dbrief spurt in the rail shares was founded on renewed expectations of “favorable news from Washington.” Practional advances were made by Chesapeake & Ohio, Delaware & Hud- son and Union Pacific. The movement did mot carry through, ‘however, and the gains were not held.- Weakness in Drug, e, which went into new low ground for the year, was explained by the announcement that the L. K. Liggett Co, had filed a petition of voluntary bankruptcy. Another soft spot was Western Union, as it had been the day before. On the other hand American Telephone was firm as in- vestment holders of the stock refused to liquidate. i SR SECy Gold Stook Increases. NEW YORK, March 31 (#).—VYester- day’'s gold statement of the New York Federal Reserve Bank showed an in- crease of $56,300, representing an impor- tation from China. There were no other changes. BANK REOPENINGS HELP SPRING TRADE REVIVAL By the Assoclated Press. ST. LOUIS, March 31.—Commerce and industry in the eighth Federal Re- serve district during February contin- ued the. recessionary trends noted in January and the closing months of 1932, the St. Louis Federal Reserve Bank reported in its monthly review. ‘The disturbed banking status caused merchants and the public to conserve cash and in virtually all of the whole- saling and jobbing lines the bank re- ported it found that sales fell below the same period a year ago. Retail trade, the report said, failed to show the usual pick-up from Jan- uary to February and special sales and with only indifferent success. CORPORATION REPORTS TRENDS AND nésncu OF LEADING ORGANIZATIONS. NEW YORK, March 31.—The follow- ing is today’s summary- of important corporation news prepared by Standard Statistics Co., Inc, New York, for the Associated Press: Investment Trusts. National Securities Investment Co. liquidating value on December 31, 1932, $57.47, a preferred share vs. $7098 on November 30, 1931. Machinery. American Machine & Foundry Co. 12:3'24commn share earnings $1.12 vs. i Miscellaneous. Acrpe Wire Co. 1932 deficit $167,082 vs. deficit $198,797. Crown Cork & Seal Co. 1932 deficit $50,099 vs. net income $698,707. Gorham, , Inc., deficit, year ended -;:l‘:ull'! 31, $751,269 vs. deficit $516,- Plymouth Cordage Co. declared a quarterly dividend of $1.12 on com- mon stock; previously $1.25 was dis- tributed 3 reduced quarter! distribution on employes’ to 11} cents a share from 12, cents. Oil. Standard Ofl Co. of Ohio 1932 deficit, $1,206,361, vs. net income, $2,359,173. Railroad and Railroad Equipment. Chesapeake & Ohio Railway—Inter- a‘;’fiuu earnings’ recapture teport f $37 ut:;‘m in yunmenfllu o , seven with 1926 and the Hocking Valley Rail- :l‘t{: 1‘3&“""' in seven years ending Great Western Railroad February net railway operating deficit, $174,717, vs. net railway (zrl come of u'k(:fl; two mont way operal defict was vS. net railway w‘zgmm Gulf, & N Rallroad net. railway operating deficit, $26,528, vs. net railway operating deficit - of two man $37,317; months net railway operating defict was $34,051, vs. net railway operating deficit of $76,156. w:;" York, On::rlo & wm_,mn- February net income, 987, vs. $61,628; two months totals were $1 592, vs. $53,634. BROKER LOAN TOTAL DROPS DURING WEEK Decrease of $27,000,000 Reported in Statement of New York Reserve Bank. Special Dispatch to The Star. statement of the New York Federal AS AID TO UNEMPLOYED By the Associated Press. fl‘dfl‘g& SL—ln::‘ud traf- cont plated as a rusul a between Sarnia, om::.km Mich., would take care of also i i g | 5 3 E i 0 z g ] ] i ] : | i Sfephpdyiesal il i i g ?gég i NEW YORK BANK STOCK P NEW YORK, March 31 (#).—Over- the-counter market similar distribution was made on com- i mon_stock. Schulte Retail = Stores Gugnunn 1932 deficit $2,039,120 vs. deficit $314,659. Steel and Iron. Pittsburgh Forgings Cb. 1932 deficit $159,694 vs. deficit $184,457, Utilities. Associated Gas & Electric Co. sub- | Sr, sidiary, Staten Island Edison refused permission 1o | N ¥ Hie, &} tion, has been issue $5,761,000 refunding and improve- ment 30-year mortgage bonds by Public | Unises Service Commission. A!:mhmnm Co. net income, 12 months ent bruary 28, . vs. $4,309,340. p—— Bell Telephone Co. of Pennsylvania February operating revenues off 17.5 per cent, net operating income off 14.8 per cent; 2 months operating revenue was off 15.8 per cent, net operating income off 11.1 per cent. Florida Power & Light Co. passed A dividend on preferred stock, last pay- ment $1.75 a share on January 3, 1933. G:;x‘:[h mbco' M;! income, 12 ‘mon! ent h e 4 e . declared dividend of 35 cents on emu‘mnmdl:’ previously 50 cents was paid quarterly on_this issue. Tennessee Electric Power Co. net in- come, 12 months ended February 28, - for $2,202,503 vs. $3,237,163. et S LOANS ON LIFE POLICIES STOPPED IN MARYLAND Special Dispatch to The Star. BALTIMORE, March 31.—The mak- ing of loans and the payment of cash surrender values by life insurance com- panies in Mlzhnd have bealezm den until further notice State In- surance Commissioner illam C. Walsh. out that there Mr. Walsh pointed would be no interruption in the pay- Touching on the March business sit- | P! uation, the report said business was at a standstill the first two weeks, but re- opening of the banks started an up- ward surge that promised well for the latter part of the month. \ SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co.) Allis-Chalmers Co. 5s 1037. .. ‘American Chain Co. 6s 1 Amer. Tel. & Tel. 5as 194 Am. Wat Wks. & El 55 Beldine Hemingway 6s 1! Chicago Rock Island 4: leve. Lor. & Whesl. 53 Colorado & So. Ry. 4%s 10 Commercial Credit blas Delaware & Hudson b n Ry. 5 toneTelephone 85 1035 Laciede Gas Ligh b fiie & Nashvile e 1 Foruiand Gen. Sec, s 1086 e G inclair Cans. Oil Co. 75 1037 Public (2) Bankers (3) . Belyn Trust (4) Cen Hanover. 3% * Com Exch ( Empire (1) Guaranty (2 ng (1) SRGE = .. B n 853538 FIEFR INVESTMENT TRUSTS NEW YORK, March 31 (#).—Over- the-counter market: Quotations as of 12 o'clock. Bid. 1% 2.43 o Db L34+ o2z RS, A g & RRARRL, 11313 g2 E¥gazbubi U. S. TREASURY CERTIFICATES (Reported by Chas. D. Barney & Co.) Bate—Maturity, s May 2. s June 18, = Ty B ALEX. BROWN & SONS BALTIMORE Announce the removal of their Washington Office to 734 FIFTEENTH STREET N.W. directly opposite their former location Effective April -1, 1933 The telephone number NAtional 1053 teh 15 The Sicr. ORE, M4, March 31 | potatoes, per 100 pounds, 3581.00; new | Potatoes, bushel, 1.25; sweet potatoes, | Dushel, 40a90; iz, bavel, 1.5001.75; bans, bushel, 1.00s175; asparagus, dozen bunches, 1.5024.00; beets, per half crate, 75a1.10; cabbage, ton, 17.00a18.00; carrots, bushel, 50a60; cauliflower, crate, 1.25a1.40; celory, crate, 1.20a2.50; } cucumbers, bushel, 3.00a4.00; eggplan crate, 1.50a2.75; lettuce, crate, 2.'Il: 3.50; onions, por 100 pounds, 1.00a1.25; 00 turnips, ‘basket, 25040; | 301.50: “Stravberrics, “pint 10A18: &rapefruit, box, 1.75a2.50; oranges, box, |2.0023.25; tangirines, half box, 1.00a1.50} & Dairy Markets. Live poultry—Turkeys, hens, pound, fl. lzsobblers. ln:’:l.d”hens. 20; old toms, caj 15 3 chickens, 19321: broers, 20824 3d hens, 13a14: Leghorns, 9a12; old roosters, 9a10; ducks, 12a13; guinea fowls, each, 25a 45; pigeons, piltr, ;i;'-‘o. Receipts, a ceipts, 11%.a113; duc?”.ml,ml"‘-él.n. Butter—Good to fancy creamery, pound, 17a20; ladles, 14a15; store pack- {ed, 12a13; process butter, 16, Live Stock Market, Cattle—Receipts, 125 head: . Steers—Good to_choice, 4.-75'25.00% dium to good, 4.50a4.75; fair to medium, 4.0024.50; plain to fair, 3.50a4.00; com~ mon Wloofhln 3. . to 3.00a3.25; , 2.5083.00; plain to fair, 2.2522.50; com~ mon to plain, 2.00a2.25. Cows—Medium to good, 2.2583.00; fair to medium, 2.25a 2.75; plain to fair, 1.75a2.25; common to plain, 1.25a1.75." 'Heifers —Good to choice, 4.25a4.50; medium to good, 4.0004.25; fair to medium, 25024.00; gl.;iol::wwhlr, 3.0023.50; common to plain, 2. . Fresh cow: d Springers, :ogbg-bo.oo, % Aty eep and lambs—Receipts, 150 head; :;‘ea‘dy- ;!;m 50a2.50; )l?z?bl. good to B.DOI.SH .'IS.W‘ o B e 0gs—] ts, 1,200 head; 3 lights, 420a4.55; medium to good, 4.20a 4.65; heavies, 3.70a4.55; roughs,’ 2.30a 2, light pigs, 3.10a3.60; 4 NEW YORK, March 31 —The weekly Wheat—No. 2, red Winter, T 0. 2, , spot, d 43a44; cob corn (new), 2.00a2.25 per barrel. Oats—No. 2, white, domestic, as to ‘weight, 29%,a31; No, 3, Toans g-h N'A ”:53”%129. REAL ESTATE « INVESTMENT in 1st Mortgage Notes or you desire managed Consult Floyd E. Davis Co. 733 12th Street N.W. NATL. 0353 IESTABLISHED OVER 40 YEA| Now You Can Patch up the Future L BENEFIT . LIFE INSURANCE CO. H. Lawrence Choate, Gen'l Agt. 925 15th St. NW.