Evening Star Newspaper, April 19, 1933, Page 14

TA—14 wxx WILSON ADDRESSES D. . UNDERWRITERS New York Insurance Expert § Speaks on Methods of % Increasing Sales. — BY EDWARD C. STONE. In connection with “Pinancial Inde- pendence week,” the District of Co- Jumbla Life Underwriters' Association held its April luncheon at the Washing- ton Hotel this noon and listened to a stirring ad- dress by Eric J. ‘wilson, from the New York office of the Penn Mutual Life Insurance Co. Mr. Wilson is & young man but has met with un- usual success in the insurance field. In his address to- day he told the ‘Washington un- derwritess how to increase produc- tion even in times of economic stress. His subject was “There Are No Strangers.” John P. Lynch, president of the Jocal association, presided, the attend- ance being unusually large. An im- portant part of the meeting was the nomination of candidates for directors of the association for next year. ‘They will be elected at the May meeting. | President Lynch gave a most inter-| esting address over the radio last eve-| ning, explaining the aims of “Insur- ance week” and pointing out the value of insurance from both protective and investment standpoints. Partnership insurance has fulfilled a demand long in existence, he said. In the event of the death of one of the partners, the proceeds of the de- ceased partner’s policy would be turned over to his widow, with his interest in the business going to the surviving partner. By this procedure both par- ties are well taken care of. The sur- Ogden L. Mills, High. 5% 15% 104 2% 10% 1% 1% 34 21 81 10% 4l 22% 15 10 25% 40 22% viving partner has the business and the widow has her husband's share con- verted into immediate cash at a par| value. R | Salary and wage earning women are; great believers in life insurance. ‘Their | object is primarily a savings invest-4 ment to build a fund for ‘use in middle | age. They usually take endowment or retirement income policics. “Life insurance, as you have seen, he concluded, “really covers the whole ! range of financial-human activity. It | saves, invests, indemnifies, protects| from Joss or irreparable disaster. | Mills on Mergenthaler Board. | Ogden L. Mills, former Secretary of | the Treasury, was elected to the direc- | torate of the Mergenthaler Linotype Co. | at a meeting held in Brooklyn yester-| day. Mr. Mills was a valued member of | the board at the time of his appoint- | ment as Secretary of the Treasury. Tesigned from all his directorships at | that time. His return to the board will | be pleasing news to the large number | of Mergenthaler Linotype stcckholders in_this city. | Frederick D. McKenney and George ‘Hewett Myers, both of Washington, are members of the same board of directors, Mr. McKenney alsc being attorney for the company. | Would Keep Bond Departments. The propcsal now being so widely dis- cussed, which favors doing away with all bank affiliates, wes given its share of attention at the Executive Council meeting of the American Bankers' Association at Augusta, Ga., last week. In recent weeks this suggested move in banking has met with very general ap- provel and many prominent bankers have taken the ground that all affiliates should be divorced forever from the parent banks. At the Gecrgia meeting the council took no direct action in the matter. Since there was a_ division of opinion | at the last national American Bankers’ | Association convention. the members of | the council did not feel that they shculd | take any definite stand at this time. | The bankers did, however, express the opinion that if affiliates are eventually placed under the ban the banks should b> permitted to operate their bond de- partments for a considerable time so | that the new conditions may be met | gradually. The Washington banks do not have affiliates so the issue is not as im- portant here as in New York and Chi- cago to bankers but equally vital to investors. Most local bankers believe the banks should not be involved in the sale of new issues. Investors hold- ing certain foreign bonds express them- selves rauch more strongly on the sub- Ject. Takoma Bank Nearly Completed. Consiructicn of the new Citizens' Bank Building in Takema Park has advanced £o rapidly that it is now ex- | pected the structure will be ready for by the end of May. In ad- Lo space needed by the bank. the bulding will contain a good-sized hall and meny offices and four stores. | A bank veult is now being ccnstructed, | Wwhich will have 250 safe deposit boxes. | The present officers of the Citizens' Bank are L. S. Cannon, president; L. V. Lampson, vice president; S. E. McNeill, secretary; A. L. Votaw, cashier, and H. L. Carr, assistant cashier. C. & 0. Share Net 58 Cents. ‘The Chesapeake & Ohio Railway re- ports for quarter ended March 31, 1933, net income of $4487.470 after taxes. charges and sinking fund appropria- tions, equivalent, after allowing for div- jdend requirements on preferred stock, to 58 cents a share (par $25) on 7,652,- 813 shares of common stock. This com- pares with $4,750,346, or 62 cents a common share, in first quarter of 1932 March net income was $1,220,955 after taxes, charges, etc., against net income of $2,083,245 in March, 1932. At the annual meeting held in Rich- mond, all the directors were re-elected, J. W. Harahan, senior vice president, presiding. Treasury Meeting Stirs Interest. ‘The banking situation in Washington has remained unchanged so far this week. The meeting of the governors of the Federal Reserve Banks at the Treasury in an effort to stimulate business and free funds in closed | 17 9 1878 1915 16% ~Prev, 1933~ Low. 18% 13% Abrm & Straus 1.20. 897 70% Allied Chem & D (6). 121% 116' Allied Chem pf (7)... 18% 397 34 64 491 128% 112 1023 FINANCIAL, THE EVENING STAR, WASHINGTON, D. C. WEDNESDAY, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Yesterday's Stock and Bales Dividend Rate. 3 Adams Expres: 54% 39 Adams Expresspf.. 8 Adams Millis... 5'% Addressograph. 1% Adv Rumley. . - 7% Affillated Prod 1.20. 6413 47'5 Air Reduction (3) % Airway Elec Appl...; 156% 11 Alaska Juneau(§0c). % Alleghany Corp..... 1 Alleg Corp pf 33! 1% Alleg Cp pf $40 ww. 5 Alleghany Steel..... 190s 115 2 6 Allis-Chaimers Mfg. 5% Alpha Port Cement. . % Amal Leather. . 5 Amal Leather pt Amerada Corp (2) T% Am Ag Chem (Del). 8 Am Bank Note...... Am Bank Note pf (3) 1 Am Beet Sugar... 23% Am Beet Sugar pf. 9% Am Brake Sh&F 60c. Am Can (4)... Am Can pf (7) 614 Am Car & Foundry. . 15 Am Car&Foundry pf. 34 Am Chicle (13)...... 13 Am Come’l Alcohol. . 37% 37 6% ‘Am European Secur.. Am & Forelgn Pwr. . Amé&Forgn Pw pt(6) Am & For Pw pf (7)., Am & For Pw 2d pf.. Am Hide & Leather. Am Hide & Leath pt Am Home Prod (3).. AmIceCo....couus Am 1ce pf (6). Am International. . Am Locomotive. Am Locomotive pf Am Mach&Fdy (80¢c). Am Mach & Metals. . ‘Am Metal Co Am Metal pt Am News (1%). ‘Am Power & Light. ) AmP&L $5pf (1%).: 9% Am P&L $6 pf (1%) e 4% 5% 20% Am Safety Razor (3) Am Shipbuilding (2); 10% Am Sm & Ref. 20% Am Sm & Ref 6% pf.. 81 AmSm & Ref 7% pf.. 321% Am Snuff (13%).. 4% Am Steel Foundry. 37% Am Steel Fy pf (2).. 30 Am Stores (12%)...: 21'3 Am Sugar (2). 80 Am Sugar pf (7) 6 Am Sumatra Tob. 863 Am Tel & Tel (9). 49 Am Tobacco (5). 50% Am Tobaceo (B) (5). Am Tobacco pf (6).. 4% Am Type Founders. . 10 Am Type Fdrspf.... 107 Am Water Works(1) 91; Am Wat Wks ctfs(1) 3 Am Woolen. Am Woolen p! Am Zinc & Lead. Am Zinc & Lead pf. Anaconda Copper. Anchor Cap (60c). Andes Copper. ... Archer-Danlels (1). Armour of Del pf(7). Armour of T11 (A) Armour of 111 (B) Armour of 111 pf Arnold Constable. Artloom Corp. Asso Dry Goods. Asso Dry G 1st pt. Asso Dry G 2d pf. Atchison. . Atchison pf (5)..... Atlantic Coast Line. . Atlantic Refining(1). Atlas Powder. . Auburn Auto (2).... Austin Nichols A (1) Aviation Corp (Del) 11 2 2 e plan3ralithronumaaalnoawme 2 > 9 314 912 Baldwin Locomot pf. 8% Baltimore & Ohio.... 91; Baltimore & Ohio pf. 20 Bang & Aroost (2) i Barker Bros pf. 3 Barnsdall Corp. 3'4 Bayuk Cigars. 7 Beatrice Creamery.. 45 Beech-Nut Pkg (3).. 31; Belding-Hemingway 614 Bendix Aviation Best&Co..... Bethlehem Steel..... Bethlehem Steel pf.. Bigelow-Sanford. : Blaw Knox. .. Blumenthal pf ( 2 Bohn Alumn & Brass Bon Ami (A) (45) Borden Co (1.60). Borg Warner. ... Boston & Maine. % Briggs Mfg Co.... Briggs & Strat (1) %« Bklyn Manhat Tran.. Bklyn Man Tr pf (6). 4 Bklyn Unlon Gas (5). Bklyn & Queens Bklyn&Queens pf (6) Brown Shoe (3). 2 Bruns Term & Rwy Bucyrus-Erie. ... Bucyrus-Erfecv pf.. Bucyrus-Erie pf (2). Budd Wheel. ¢ Bullard Co. . Burr Add Mach(40¢). Bush Terminal. & Butte Copper & Zi Butterick Co.. » o 2 B oo et @ o oo oo Calumet & Hecla. 4 Canada Dry G A (1). Canadian Pacific.... Cannon Mills (1). Capital Admin (A). 30’4 Case (JI) Co... 40% Case (JI) pf (4). 51; Caterpillar Tractor, 415 Celanese Cor 14 Cent Aguirre ( 214 Century Rib Mills 5% Cerro de Pasco. .. 1 Certain-teed Prod...; 24% "hes & Ohlo (2%)... 14% Chesapeake Corp (2). 15 Chi & Eastern Ill...... 214 Chi Great Westn pf. 1 ChiMil St P & Pac. 1%. Chi Mil StP & Pac pf. 1% Chi & Northwestern., 2 Chi & Northwest pf.. 214 Chi Pneumatic Tool., 52 Chi Pneu Tool pf. 2 Chi Rock I & Pac. 2% Chi RI1& Pac 6% pf.. 3% Chi RI1& Pac 7% pf. 5 Chickasha Cot O(1).: 6 Chile Copper Tia City Ice & Fuel (2). 45 City Ice&Fuel pf 6% . 130: 20% 5% 4“ 10 6 2% 10% 60%; 1 15% 1 1% 1% Net. Low. Close. Chge, +2 + % +1% + + % ~Prev. 1933~ High. Low. 5% 1% 2% 61 Yesterday's Stock and Sales Dividend Rate. Add 00. High. Low. 3% Contl Diamond Fibre 5 4% 10% Contl Insur (1.20) 4 U 45% Corn Products (3) + %| 145% 117% Corn Prod pf (7) + W +4% - % +1% + % +1 +7 + % +1% + % +14 +1% +1% +3 + 5 +6% + % +1% +2 +2% +1 + % +3 +3% +4% +3% + % +3 +3% + % + % +1 +1% 4 + W + % + 3 +24 +3 + % s L e 4% 28% 3% 23% 16 24 1% 6% 41 29 815 97 b8y 27% — e fd M1 19% 15% 15% 13% 8 3%, 38% 43 106 102 3% 61% 207%% 2% 1% T 18% 20 27% 34 1084 91y 38 11 15 15'2 2% Coty Inc...... 23 Creamof Wht $2%.. 2% Crosley Radlo. . 14% Crown Cork & Seal..: 9 Crucible Steel. 16 Crucible Stecl pf 21 3 20% Cudahy Packing 2%. 614 Curtis Publishing. .. 30 Curtis Publishing pf. 1% Curtiss-Wright..... 2 Curtiss-Wright (A) 605 Cushmans pf (8).... 4% Cutler Hammer. . 6% Deere & Co pf (20c) 37% Delaware & Hudson 17% Del Lack & Westn. .. 48 Detroit Edison (4) 17'% Diamond Match (1) 12 Dome Mines ($1.30). 10% Dominion Stores 1.20 10% Doug Afrcraft (75¢c). 6% Dresser Mfg (A).... 2% Dresser(SR)Mfg(B) 29 Druglne(3)........ 32% Dupont de Nem (2).. 981 Dupont deN db pf(6) 95 Duquesne Lt 1st (5). 1% Eastern Roll Mills, .. 46 Eastman Kodak (3) 3% Eaton Mfg Co. 10 Elec Auto-Lite...... 1 Electric Boat. . 1 Elec & Musical Instr. 31 Elec Pwr & Lt. . 613 Elec Pwr&Lt $6 pf 713 Elec Pwr&Lt $7 pf 21 Elec Storage Bat (2). Elk Horn Coal...... 26 Endicott-Johnson(3) 107 Endicott-John pf (7) 4 Engineers Pub Sve. ., 26% Eng Pub Sve pf (6).. 6'3 Equitable Of Bld(1).. % Evans Auto Prod...s 213 Fairbanks-Morse. ... 15 Fed Mines & Smit. .o 18 Fed Mines & Sm pf. s, 3 Federal Mot Truck. . 3, Federal Screw Wks. . 1% Fed Water Service A. 7l Fed'd Dep Strs(60e) .. 10% Fidelity-Phoen 1.20., 914 Firestone T&R(40c) Firestone T&R pf(6) First Nat Strs (233). Florsheim Shoe (A). Florsheim pf (6).... Follansbee Bros. . Food Machinery 2 Foster-Wheeler. .... Foundation Co. B Fourth Nat Inv 1.10 Fox Film (A). Frankln Simon Freeport-Texas (2).. Freeport Tex 6% pf Fuller Co 2d pf. Gen Am Investors. Gen Am Trans (1) Gen Asphalt. . Gen Baking (2). Gen Baking pf (8) Gen Bronze. Gen Cable pf Gen Cigar (4). § Gen Electric (40c) Gen Elec spec (60c) Gen Foods (1.60). Gen Gas & Elec (A) Gen Mills (3). . Gen Motors (1). Gen Motors pf (5)... Gen Public Service. . Cen Ry Signal (1)... " Gen Realty & Util... Gen Realty & Util pf. Gen Refractorfes. ... Glllette Saf Raz (1). Gillette Saf R pf (5). Gimbel Bros Gimbel Bros pf. Glidden Co.... Glidden Co pr pf (7). Gobel (Adolf). Gold Dust (120) Goodrich (BF). Goodrich (B F) pf. Goodyear Tire&Rub. Goody'r T&R 1st (2). Gotham Silk Hoslery Graham-Paige ‘ Granby Consol Grand Unlon. . . Grand Union pf (3).. Granite City Steel(1) Grant (WT) (1).... Great Northern pt Great Northern Ore. Great West Sugar... Great Wn Sug pf(7). Greene Cananea. Grigsby Grunow. ... Guantanamo Sugar. . Guantanamo Sug pf. 63 Gulf States S Hackensack 1%) 114 Hahn Dept Stores. ... 9 Hahn Dept Stores pf. 614 Harbison & Walker. 3, Hayes Body 6915 Helme (GW) ( 116% Helme (GW) pf (7).. 15 Hercules Powder 13 3514 Hershey Choc (3). ... 64% Hershey Choc pf (15) 31, Holland Furnace. 145 Homestake M(110).. 41, Houdaille-Hersh(A). 1 Houdaille-Hersh(B). 441 Househd Fin pf 4.20. &1 Houston Ofl......... 17 Houston Oil (new).. 513 Howe Sound (40c)... 11%; Hudson & Man (214). 3 Hudson Motor Car. 1% H.pp Moto! 813 11linois Central..... 14 Indian Motor Cycle. 1'% Indian Refining.....: 24 Industrial Rayon (2) 19% Ingersoll-Rand(1%). 12 Inland Steel.. 2 Inspiration Cop; 1% Insuranshares (Md). 4% Interboro Rap Trans. 54 Intercontl Rubber... 2% Interlake Iron.. 7 Int Agriculture. 75% Int Bus Mach (6). 2% Int Carriers Ltd 20c 6% Int Cement.. % Int Combusti 1% Int Combustion pf 13% Int Harvester (80c 213 Int Hydro-Elec (A).. 1% Int Merchant Marine 6% Int Nickelof Can....! 3% Int Paper & Pwr (B). % Int Paper & Pwr (C). 2 IntPaper & Pwrpf.. 313 Int Printing Ink. 13% Int Salt (1%) 24% Int Shoe (2). 9% Int Silver. 243 Int Silver pf. 5% Int Tele & Teleg 134 Interstate Dept St Net. . Chee. 4% + % +1% -% +1 +4% e SEess b4t Lot o FEFEEE + ot & e Ere 44414440 ate 2O RFeery o w58z CANADA IMPROVES 175 TRADE POSITION Dominion Had Export Bal- ance of $67,693,483 as Fiscal Year Closed. By the Assoclated Press. OTTAWA, April 19.—Canada ended the last fiscal year with an export trade balance of $67,693,483. Domestic ex- ports for the 12 months ended March 31 last totaled $473,907,455, as against $406,213,972 imports. At the end of the preceding year the Dominion had an import balance of $2,148,580. The value of total importations then was $578,492,882 and of domestic exports $576,344,302. Statistics issued by the department of national revenue show that the total trade of Canada for the fiscal year just ended suffered a decline of $279,023,- 130 as compared with the previous fiscal year. For the 12-month period ended March 31 last, Canada’s total trade amounted to $887,035,269. For the pre- ceding 22 months it totaled $1,166,058,- 399. Re-exports of foreign goods dur- ing the 12 months just ended amounted to $6,913,842, as compared with $11,- Yesterday Stock and Sales Dividend Rate. Ludlum Steel an 915 McAndrew Forbes(1) 213 McCrory Stores pf... 18 McIntyre P M(11%). 4414 McKeesport TP (4). 1% McKesson & Robbins 3% McKesson & Rob pf. 1, McLellan Stores 1315 Mack Trucks (1).... 24% Macy (RH) & Co (2). 1% Madison Sq Garden.. 5% Magma Copper . 74 Mallison & Co. Net. Add 00. High. Low. Close. Che. 7 % +1 | APRIL 19, 1933. 221,215 In ended March 31, 1932. 1 Exports of wheat were much higher in the fiscal year which closed on March 31 last than during the g 12 months. Total exports wheat from Canada during the year ended March 31 last reached 230.3;':.155 bushels, valued the at $130,546,365. month tity exported period the quant was 191,316,933 bushels and the value $115,739,451. By the Associated Press. NEW YORK, April 19.—Post-Easter quotations in the women's apparel market are generally firm, according to merchants. ‘It is said that stores scheduling promotions of cut-price gar- ments for the near future are experi- encing some difficulty in covering their needs owing to a lack of goods of dis- tress or cut-price variety. There is said to be more interest in metal hollowware wholesale markets, reflecting increased purchases by retail stores for Spring requirements. Pro- ducers of sterling and plated ware are understood to have received a fair volume of orders for June sales. Selling agents featuring Fall sweat- ers report only a mild interest in their lines. Prices are about even with those quoted at the close of last season, it is said. The American Institute of Carpet Manufacturers, Inc., is considering a Tetailers throughout the country in T, ~Prev 1933— High. Low. ™ 15 +1 314 + 5 +1% +5 +1 <3 1 1% 21y +1% +4% +1% special “Rug week,” to be observed by | FINANCIAL. HIGHWAY CONSTRUCTION WILL COST $96,000,000 Special Dispatch to The Star. NEW YORK, April 19.—Present esti- mates for 1933 hway construction expenditures in 10 Far Western States indicate an increase of $21,000.000 over Bank of America, Pacific banking institution. The estimated ex- penditure of $96,000,000 for highway develcpment in the Far West this year is hailed as a forerunner of employment throughout the remainder of the year. California, already noted for its ex- cellent highways, has a two-year pro- gram of $61,700,000. Major work already recommended provides for imprevement on 151 projects, involving a total of 867 miles. The budget also provides for maintenance of a system of highways totaling approximately 7,349 miles throughout the State. Funds as reported from other States providing for 1933 construction ar ‘Washington, $22,500,000; Colorado, $6.: 014,000; New Mexico, $5,075,000; Utah, $4,200,000; Montana, $2,500,000; Idaho, $2,634,000; Nevada, $2,022,000; Oregon, $18,400,000, and Wyoming, $1,700,000. —_—————— MONEY MARKET. NEW YORK, April 19 (#).—Money rates were a trifle irregular today. Time funds were up to 1 per cent bid for all maturities with some offered for 90 days at 1 per cent. Previous rates were % per cent for 30 and 60 days and 1 per cent for others. Outside call money was unchanged at 3 per cent. Commercial paper rates eased, 2 to 2% per cent be- ing quoted for prime names against 2 | to 23 per cent previously. Bankers’ acceptances were unchanged. Stock and Dividend Rate. 24 Second NatInvpf... 4 Seneca Copper. Servel Inc. ... Sharon Steel Hoop. .. Sharp & Dohme. . 5% Shattuck(FG) (24¢). Shell Union Oil Shell Union Oil pf. SImmons Co..veeeosr Simms Petrolm (26c) Sloss-Sheff Steel pf.. Snider Packing...... Yesterday's Net. Sales Add 00. High. Low. Close. Cht 32 31% 32 <4 K + % + 21 % 2%, 3K 4 2% srese” - ™ 3ia 8% % Manati Sugar. % Manati Sugar pf. 12 Manhattan Elev gtd. 6 Manhat Elev mod gtd 5% Manhattan Shirt 5% Marine Midld (80 6 Marlin-Rock (1). 4% Marshall Field & Co. 14 Mathieson Alk (1%). 9% May Dept Stores (1). 2 Mengel Co........ - 7 Mesta Machine (60c). Mexican Petrim..... Miami Copper....... Mid Continent Petm. 3 Midland Steel Prod. 13 Min-H'well Reg (1). » Minn Moline Pow. 6 Minn Moline P pf. 5% Mo Kan & Texas. 11's Mo Kan & Texas pf.. 114 Mtssourd Pacific. ... 1% Missour! Pacific pf.. 7 Mohawk Carpet..... 25 Monsanto Chem 1% . 8% Montgomery Ward. . 25 Morrell (J) & Co (2). 15 Mother Lode. . 7% Motor Products. 1'; Motor Wheel.. 11; Mullins Mfg.. 5 Mullins Mg pf 5 Munsingwear In 1% N rray Corp. . Nat Cash Reg (A) Nat Dairy Prod 1.20 Nat Distillers. Nat Dist pr pf ( Nat Lead (5)... Nat Pwr & Lt (1 Nat Steel (50¢) Nat Supply Co. Nat Supply pt. Nat Surety . . Nat Tea (60¢). - Nevada Con Copper... Newton Steel N Y Central. N Y Chicago & St L.. NCChi&StLpf. N Y & Harlem (5). Y Investors. . N Y N H & Hartford. N Y N H & Hartpf.. N Y Ont & Western.. N Y Shipb'ldg (10¢). N Y Shipbldg pf (7). N Y Steam pf (6). Noranda Min (a1.10). Norfolk & West (8).. Norf & Westn pf (4). North Am Aviation. . North Am (b8 % stk). North Amer pf (3)... North Am Ed pt (6) Northern Pacific. ... Norwalk Tire & Rub. 4% OhioOll......... o 115 Oliver Farm Equip.. 314 Oliver F Eq prpf A.. 1% Omnibus Corp. . Oppenheim Collins. . 10« Otis Elevator(60c) 931, Otis Elev pf (6). 1, Otis Steel. .. 21, Otis Steel pr pf 27 Outlet Co (2)....... 3113 Owens I11 Glass (2).. T Dacific Coast 2d pf 20 Pacific Gas & El (2). 25% Pacific Lizhting (3). 6 Pacific Mills........ 65 Pacific Tel & Tei (6). 1% rackard Motor Car.., 5% Panhandle P & R pf. Park Utah.. . Patha Exchange Pathe Exchange Patino Mines. . Penick & Ford ( Penney (J C) (1.2 Penn Dixie Cement.. Penna RR (h50¢c) . Peop Drug Strs (1).. Peoples Gas Chi (5). Pere Marquette pf... Pere Marquette pr pf Petrol Corp of Am Phelps Dodge. . Phila Co 6% pf (3).. Phila & Read C&1I... Phillips Petroleum. Plerce Ofl..coce Pierce Oil pf. Plerce Petroleum. ... Pillsbury Flour(60c) Pittston Co Zar Pitts Coal. Pitts Steel Pitts Term Coal pf.. Pitts United pf. Pitts & West Va Plymouth Oil Poor & Co (B). ... Port Ric Am Tob(B). Postal Tel&Cable pf.. Socony Vacuum 40c.. Solv Am pt ww(5%). So Port Ric Sug 1.6 So Port Ric S pf (8).. South Cal Edison(2). Southern Pacific. ... Southern Railway. Southern Rallway pf Sparks-Withington. . Standard Brands (1). Stand Gas & Elec. ... Stand Gas&EI pf (4). Stand Gas&EI pf (6). Stand Gas&El pf (7) Stand Invest Corp. .. Stand Oil Calif (2)... Stand Oil Exp pf (5). Stand OIINJ (1).... Sterling Secur (A) terling Secur pf.... rling Secur cv pf. Stewart Warner. ... Stone & Webste Studebaker Corp. Studebaker Corp pf.. Superheater (50¢)... Superior Ofl. Superior Steel. Symington (A) Telautograph (1) Texas Corp (1) Tex Gulf Sulphur Tex Pacific Coal&Oil. Tex Pacific Land Tr. Thatcher Mfg Co.... Thatcher Mfg pf 3.60 The Fair. @ The Fair pf Third Avenue. ...... Thompson (J R) (1) Thompson Products. Thumpson Starrett. . Thompson-Staret pf. Tide Water Asso Oll. '3 Tide Water Assoc pf. Timken-Detroit Axle Timken Roller Bg(1) ‘Transamerica Corp.. Transue & Williams. Tri-Contl Corp. . Tri-Contl Corp . Trico Products(2%). Truscon Steel T 6% Twin City Rap Tr pf. 501 23% 61 3% Ulen & Co... Und-Ell-Fisher (50c) Union Bag & Paper Union Carb &C (1).. Un Ofl of Calif (1)... Union Pacific (6). ... Un Tank Car (1.40).. Unit Aircraft... Unit Afrcraft pf (3). Unit Biscuit (2)..... Unit Carbon. ... Unit Corp (40c). Unit Corp pf (3. Unit Dyewood. Unit Electric Coal... 4« Unit Fruit (2)...... Unit Gas&Im (1.20).. Unit Gas&Im pt (5). Unit Piece Dye Wks. Unit Pce D W pf 6%. U S & Forn Secur. U S & Forn Sec pf. U S Freight U S Gypsum (1). 2 U S Ind Alcohol. U S Leather. U 'S Leather (A US Leather pr : U S Pipe&Fdy (50c). u w U S P&F 1st pf 1.20.., Realty & Imp. Rubber. ........ Rubber 1st pf. Smtg & Ref (1).. Smtg&Ref pf 3% U S Steel.. U S Steel pf (2 U S Tobacco (4.40) 3 3% United Stores (A)... 1 21% Univ Leaf Tob (2).. x 99 ' Univ Leaf Tob pf(3). % Univ Pipe & Rad. 5 Univ Pipe & Rad pt.. 85 Utah Copper. 1% Util Pwr & Lt % Vadsco Sales Corp. 7% Vanadium Corp. % Va-Car Chemical.... 6 35% Va-Car Chem 7% pf. 12% Vulcan Detinning... 64( 57 Vulcan Detin pf (7). 1's Wabash pf (A).. . 5% Waldorf System (1). 7 Walworth Co 2% d Baking % Ward Baking (B). 11% Ward Baking pf (1 1 Warn Bros Pictures. 2% Warren Bros.... ’;k u wunnnnn u u u 1 708 2 20s Warren Bros cv pf ‘Warren Found & P. Webster Eisenlohr. .: Wesson O & Sn (50¢) 10 ‘Wesson O&Sn pf (4). 1 Fhb b LA b b L4 FeaEea"e Ed &3 ) @ +1% +2 + % g “1% - % +3 +1% + % +1% g e xRy @y o & + | dollar was quoted at 24.60. West Pa Elec A (7).. STOCK LIST SOARS INHEAVY TRADING ) eaders Are Pushed Steadily Higher, With Industrial Shares Featured. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, April 19.—A spectacular rise in the foreign exchanges at the ex- pense of the dollar, a buoyantly strong stock market from start to finish, and wide advances in all commodities fea- tured today's markets. Sterling exchange at one time was up almost 30 cents. The other European currencies rose in disorderly fashion. ‘There were rapid and nervous fluctua- tions all day, but the dollar was always acutely weak. Commodities were bought at steadily rising prices. Wheat in Chi- cago closed 13; to 2'; cents higher, with smaller gains in the cther grains. Cotton made a sharp gain. The minor staples were equally strong. The stock marget had no reaction to speak of at any time and the close was around the best. The largest gains were made by the industrial shares, but utilities and rails, which lagged behind early in the day, came into line before the end. All told, it was as wild a market as has been seen this year. The only point of weakness was in bonds and they were lower in propor- tion to their investment rating, the weakest being United States Govern- ment obligations. All these movements were founded upon the latest information with regard to the intentions of the Government at Washington as to inflation. Today's understanding was that no more gold exports would be allowed except for ear- marked lots and for balances arrived at in trade movements, and that the dol- lar was to be left to care for itself in the international markets. The design was said to be to raise the domestic price level by this means instead of by some expansion of currency. Whether this is abandonment of the gold stand- ard or not is an academic question. ‘The speculative community took it for granted that equities and staples will be worth more under this arrangement and the stock market rose buoyantly for practically all industrials, with special strength in stocks having a large com- modity interest. The rails were only moderately higher and the utilities were heavy, in some cases weak, in response to the latest campaign for lower rates. Commodities soared. In silver futures | the advance ran to the limit allowed by | the exchange of 300 points for some four deliveries. Sugar climbed 7 points on top of its gains earlier in the week. Rubber bounded upward 25 points. Coffee 9 to 10 points higher. Wheat |advanced 1': to 2 cents a bushel. not ilonly on the inflation prospect but on the poor outlook for the new crop. Cot- ton was up $1.25 - bale at one time during the morning. :$50,000 TRUCK ORDER IS PLACED BY BREWERY Special Dispatch to The Star. BALTIMORE, April 19.—The largest | single motor truck order placed by any . | brewery in the United States since the ileganmtlon of beer, according to the | White Motor Truck Co. of Cleveland, Ohio, has been placed by the Globe | Brewery of Baltimore. Twenty-five light and heavy duty trucks at a cost of $50,000 have been ordered, it is re- ported. The report also states that more or- ders for new trucks of all kinds have been received by the White Co. from Baltimore in the first three and a half months of 1933 than were received during the entire year of 1932 from this city. PARIS BOURSE PRICES. PARIS, April 19 () —Three per rent *|rentes, 68 francs 80 centimes; 4': per cent rentes, 87.70. Exchange on London, 8747. The NEW YORK BANK STOCKS NEW YORK. April 19 (#).—Over-the- counter market: Quotations s of BANKS. 2 o'clock. Bid. Asked. Bk Manhat ¢ Chase Natl ( Commercial (x) Fifth Ave (*44) First Natl (100) . Natl City (1) Putlic (2) : TRUST COMPANIES, Bankers . urers N'Y Title & Mte . N ¥ Trust 51 .. Title G & T (1.4 United States (60) *Includes extra. MONEY TO LOAN | On Owner-Occupied Homes || in District of Columbia | CURRENT RATES OF INTEREST FLOYD E. DAVIS CO. %33 12th St. N. National 0353 First Mortgages FOR SALE 6% Interest JAMES F. SHEA 643 Indiana Ave. N.W. — et 293, 23 Jewel Tea Co (3). !5’(‘)7- 23% 12%_ Johns-Manville. West Pa Elec pf (7) s 1 City Stores. .. o a2 ‘West Pa Pwr pf (6). banks, a ed . roused much interest today. 134 City Stores (A). % Proctor & Gam(1%). About $40,000,000 is tied up in the local banks which have not yet re- ceived any licenses to reopen. Releas- ing of any part of these funds would be of t assistance to hundreds of bank depositors. . Today's Trading on Exchange. On the Washington Stock Exchange today $1,000 Anacostia & Potomac River 5s changed hands at 87, Wash- ington Gas 5s, 1958, figured in a $1,000 turnover at 84%, Georgetown Gas 5s moved at 103 and Washingtop Gas 6s, Series B, recorded a $100 sale at 104. Mergenthaler Linotype stock sold at 231,, Potomac Electric Power 6 per cent_preferred at 107% and Washing- ton Rallway & Electric preferred at 82. Financial District Comment. Locel brokerage houses were crowded today when the New York stock market opened. The general advance in quota- tions caused wide satisfaction. Infla- tion has been the subject most discussed in the ticker rooms here during the past few days. The Union National Bank and Em- pire National Bank, both of Clarks- burg, W. Va, have reopened on a 100 per coat basis, according to Hugh Leach, manager of the Baltimore branch of the Federal Reserve Bank of Richmond. West Virginia Pulp & Paper Co. has declared the regular quarterly dividend ©of $1.50 on the preferred sf able May 15 to stock of record AR 5 % 7 Colgate-Palm-Peet. 3 Collins & Alkman 10 Colonial Beacon Oil.. 31 Colo Fuel & Iron. 16 Colo Fuel & Iron p! 12% Colo & South 1st pf.. 9 Columb G&EI(b80c). 59 Columb Gas pf A(6) 6% Columbia Pict vtc. 23% Columb Carbon (2) 4 Commercial Credit... 16 Comc’l Credit (A).... 70 Comcl Cred 1st(6%). 18% Comcl Cred pf B (2). 18 Comel Inv Trust (2). 84 Comcl Inv cv pf(e6). 9 Comcl Solv (60¢). 1% Comwlth & South: 21 Comwlth & Sou pf(6) 7% Congol-Nairn (80¢).. 31 Consol Cgrprpf 6%. 33 Consol Cigar ptf (7) 1% Consol Film.. 5% “onsol Film pf. 40 ConsolGasNY 2% Consol Laundrie 5 Consol Ofl Corp. . 95'% Consol Oil pf (8). 1% Cons RR of Cuba pf.. % Consol Textile. 1% Container Corp % Zontainer Corp (B) §, g Baking pf (4) g . 1Can (eeorarh . 5% B b B3 1 EsvComtm LR 42 Johns-Manvillepf... 35 Jones & Laugh pf(1) 6% Kansas City Southn., 12 Kan City Sou pf (2).. 2% Kaufmann Dept St.« 67 Kayser (J) & Co.. 7s Kelly Spring Tire... 6 Kelly-Sp Tire 6% pf. 3% Kelvinator Corp. . 7% Kepnecott Copper. 5% Kimberly-Clark. 515 Kresge (S S)... 88 Kresge (SS) pf 27 Kress (S H) (f1). 1415 Kroger Grocery (1) 22'% Lambert Co (4). 8% Lehigh Valley RR.., 37% Lehman Corp (2.40).. 14 Lehn & Fink (2)....3 4% Libbey Owens Glass.. 49 Liggett & Myers(15). 49% Ligg & Myers B (15). 13 Lily Tulip Cup (1% 10 Lima Locomotive...; 6% Link Belt (40c). 10% Liquid Carbonic 8% Loew's Ine (1). 35 Loews Incpf (6%). 1% Loft Ine. . 19% Loose-Wiles Bis (2). 10% Lorillard (P) (1.20).. % Louisiana Ofl. 8. 15% 16 1030 1 +1 %+ % Proc & Gamb pf (5) Pub Sve N J (2.80) Public Sve NJ pf (5). 80 Public Sve NJ pf (6). 917% Public Sve NJ pf (7). 27% 18 Pullman Corp (3). 3% 2! PureOil.... 62 80 PureOil pf (2) . 11% 5% Purity Bakeries (1).. 3 RadioCorp..... 13% Radio Corp pf (A) 6% Radio Corp pf (B) 1 Radio-Keith-Orph 5 Raybestos-Man (60c) g 28 PCT RPN 2% Remington-Rand. 3 1% Reo Motor Car. 7% 4 Republic Steel.. 17% 9 Republic Steel pf. 15 7 Revere Cop & Br pf. 9 6 Reynolds Metals(1).. 3% oo e S Swab - 26% Reynolds Tob B (3).. 235 3% Richfleld Oil 10 6% Ritter Dental. 5% 2 RossialInsof 21% 17% Royal Dutch.. 42% 28 Safeway Stores (3). 88 172 Safeway Strspf (6). 96 80% Safeway Strspf (7). 13% 6% St Joseph Lead...... 1% 7 St L-San Francisco. 1% 1 8StL-SanFranpf. 32 28 Scott Paper (1.40) 124% R15 Seaboard Ofl (150¢c) 40% 83 90 16% uh ak e R 4 B R +2% +3% +2% +3% 3| West Pa Pwr pf (7). 130s 39% 7% Western Dairy pf B.. 4 Western Maryland ‘Western Md 2d pf... Western Pacific. Western Union Westing’se Air Westinghouse Elec. . Westinghse 1at (3%) 1% 19% 60% 3% 5 We. tvaco Chlorine Whelinr Steel. . White Ruck M S (2) White Sew Mch pf. % 11% 1% 8 . Worthington Pump.. 14 Worth'nPumppfA.s 14 Worth’'n Pump pf B.y 84% Wrigley (Wm) (3).. 4% 2% Yellow Truck..... 3% Young Spr & Wire... 6% 14% 7% Youngstown Sh&Tn 5% 3% Zonite Products..... Sales of Stocks on New York Exchange. 10:30 AM. 7 1:30 P.M. ‘Weston Elec Instru.. % 4 4 1 66 9 64 80s =2 - < TSR T ooy - [SI<RETTS 3 < Dividend rates as given in the above table sre the annual cash ts based on the t of tra 1l latest quarter] half-yearly di tions. fern ‘i 00 sharcs. T Pacily exira. & Plus r rate. b Pal 9% in stock. h Plus Plus 6% NoOTES Secured by First Mortgages Safe—Conservative Wm. H. Saunders Co., Inc. REALTORS Dist. 1016 1519 K St. ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St. and Indiana Ave. N.W, 70th Series of stock now open for subscription Payments on shares $1.00 each, payable monthly James E. Con . Shes President -y ,.J-t?fl{lfl