Evening Star Newspaper, May 2, 1933, Page 14

TA—14 RETURNS OF GOLD 0 BANKS SUBSIDE Most Holders of Metal Have Complied With Law, Is Report BY EDWARD C. STONE. Local bankers reported today thatl. the flow of gold back to the banks and the Federal Reserve Bank of Richmond practically stopped some time ago, so that the final date for “hoarders” to turn their wealth into some other form of money did not_cause even the slightest flurry. The rush to re- turn ‘hoarded gold” came right after the Treasury issued instructions to the Pederal Re- serve Bank gover- nors to secure the names from mem- ber banks of all hoarders who had nr:n transferred their treasure to (el gucenure % L. C. Shonts. Government vaults. by May 1. At that time over $30,000,000 was brought out of hiding in the fifth reserve district and put back into circulation. It developed that a good many de- ! positers in Washington banks had gold in safe deposit boxes, the largest amount brought to light by any one individual totaling $500,000. In the past few days, however, bankers say very little gold has made its appear- ance in local banks or at the Treasury. Shonts Adding Machine Official. L. C. Shonts, formerly of this city. widely-known patent attorney, has been elected vice president of the Burroughs Adding Machine Co.. in Detroit. For some time. up to last March, Mr. Shonts had been a member of a! Chicago law firm. A native of Towa, the new vice presi- dent graduated from Iowa State College in 1908. He lived in Washington sev- eral years while an examiner in the United States Patent Office, leaving the Patent. Office to enter the practice of law for himself. When the World War broke out, he enlisted as a private and became an artillery captain in France. Later he served as patent counsel for a farm impliment company and had been a member of the board of directors of the Burroughs Co. since October, 1932, Nominees elected as delegates to the annual convention, American Institute of banking, at Chicago, June 12 to 186. by Washington Chapter are as follows: Paul J. Seltzer, Alfred W. Sherman, Frank M. Perley, William A. Cad: James C. Dulin, jr.; B. Bruce Frantz, Donald Mowbray and Henry F. Kimball, American Security & Trust Co.; Robert H. Lacey, Columbia National Bank; Walton L. Sanderson, Federal-American Naticnal Bank & Trust Co.; Mrs. Gel trude Wick, Liberty National Banl Anne P. Crawford. McLachlen Banking Corporation; S. Winifred Burwell, Na- tional Metropolitan Bank; William Russ, Munsey Trust Co.; Anne Sullivan, Mo ris Plan Bank; Raymond L. Weber, Na- tional Savings & Trust Co.; Constance D. Fogle, George Dagenias, 1. J. Roberts and Robert Poole, Riggs National Bank; Joseph R. Fitzpatrick and Stuart Ogil- vie, Second National Bank; T. Hunton Leith, Security Savings & Commercial Bank: G. Elmer Flather, Union Trust Co.; Rose Royce, Mabel Royce and Wil- liam Laughlin, Washington Loan & ‘Trust Co.; J. Earle McGeary, Robert E. Phelps and John M. Christy, W. B. Hibbs & Co.. E. W. Schreiner, Alice ‘Whitton and Robert Whitton, First Na- tional Bank, Alexandria; Valentine W. R. Smith, Citizens National Bank, Alex- andria; Mrs. Veda Richards and C. Wm. McCormack, office of the Controller of Currency, Reconstruction Finance Corp- oration. Accountants Hear National Officer. The quarterly meeting of the District of Columbia Institute of Certified Pub- lic Accountants, hcld at the Racquet Club on Saturday evening was address- ed by Ralph W. E. Cole of Los Angeles, president of the American Society of Certified Public Accountants. Mr. Cole pointed out the growing recognition of the work of the inde- pendent accountant and emphasized the importance of his duties, especially in the light of pending legislation on the issuance and control of securities offer- €d to the public. Representatives of the New York Life Insurance Co. from Washington, Balti- more, Philadelphia and New Jersey held a meeting at the Carlton Hotel here to- day at which the speakers were Fred S. Munsell, inspector of agencies from Philadelphia, also Agency Direclors Harry Kirks of Baltimore, R. A. Hein- sohn and Frank Nusbaum of Phila- delphia. About 70 insurance agents were present, half of whom were from ‘Washington. Another similar meeting will be held in Philadelphia later in the week. Delegates from Wash- ington to attend that meeting will be Earl P. Warfleld, Herbert Johnson, Louis Fenik, Sidney Simon and Agency Director E. D. Krewson. Carmi Thompson Made Chairman. Carmi Thompson of Cleveland, Treasurer of the United States under President Taft, has been elected chair- man of the board of the Fidelity In- vestment Association and the Fidel As- sociation, the Washington office an- nounced today. The election of Howard Sutherland to the presidency of the Fidelity Associations was made public; last Saturday. Arthur B. Koontz of Charleston, W. Va., will serve as senior vice president. State and municipal financing through the sale of bonds in April amounted to only slightly in excess of $10,000,000, excluding loans nego- tiated with the Reconstruction Finance Corporation. In March loans placed with the public aggregated $13,300,000. For the first four months of the year, FINANCIAES THE _EVENING STAR. WASHINGTON, D. C., TUESDAY, MAY 2. 1933. FINANCIADY TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. Note—All New York Steck Markels now operating on daylight-saving time. ‘5 15% 10% 3 11% 18% 2 15 3915 15% 2 12% a8 30 2115 2414 151 25 & 44 121 41 100 10 109% 8% 8313 w, Today's Stock and Dividend Rate. Abrm & Sumus | 1.20 i Adv Rumley. . Afliated Prod 1.20. Air Reduction (3) 4 Alaska Juneau(60c). Albany Wrap Paper.. 4 Alleghany Corp. ... Alleg Corp pf $30ww. 4 Alleg Cp pf $40 ww 4 Alleg Cp pf 330 xw... Aileghany Steel. . Allied Chem & D (6), Allied Chem pf (7)... Allis-Chalmers Mfg. Alpha Port Cement Amerada Corp (2). Am Ag Chem (Del) Am Bank Note Am Bank Note pf (3) Am Beet Sugar. .. 4« Am Beet Sugar pf Am Brake Sh&F 60c.. AmCan (H).... Am Car & Foundry . Am Car&Foundry pf. Am Chicle (+3).. Am Comc’l Aleohol A.n Encaustic Tiling Am & Foreizn Pw Am&Forgn Pw pf(6) Am & For Pw pf (7)., Am & For Pw 2d pf. Am Hide & Leather Am Home Prod (3). Am Ice Co. . Am International. ... AmYa Fr & Fom pf.. Am Locomotivi Am Locomotivi Am Mach&Fdv (306) . Am Mach & Metct. .. Am Metal Co...... 3 Am Metalpf., . Am News (1%) Am Power & Light. AmP&ELS5pf (1%).0 Am P&L 36 f (1%) Am Radiator. % Am Rolling Mills. Am Safety Razor (3) Am Sm & Ref . Am Sm & Ref 7% pf.. 5 Am Snuff (13%)..... Am Steel Foundry ... s Am Steel Fy pf (2). Am Stores (12%).. 3 Am Sugar (2).. Am Sugar pf (7) Am Sumatra Tol 5 Am Tel & Tel (9).... Am Tobacco (5) am Tobacco (B) (5). Am Tobacco of (6).. % Am Water Works(1) Am Wat Wks etfs(1) Am Wat W 1st pf(6). Am Woolen. ... Am Woolen pf. % Am Writ Paper pf % Am Zinc & Lead Anaconda Cooper. # Anaconda Wire & Anchor Cap (§0¢) Andes Copper. . Archer-Danlels (1} Armour of Del pf(7). 4 Armour of ' (A) Armour of 111 (B) Armour of Tl pf Arnold Constabl; Associated Apparel Asso Dry Goods AssoDry G2 pf.... Associated Oil. . . » Atchison.... Atchison pf (5). Atlantic Coast Lin: 13 Atl Gulf&West Ind. % Atlantic Refining(1). Atlas Powder. ... Atias Powder pf (6). 4 Auburn Auto (2). # Austin Nichcls. jon Corp (Del 313 Baldwin Locomot. 9% Baldwin Locomot pf. 8% Baltimore & Ohlo.... 915 Baltimore & Ohio of. 68'% Bamberger pf (62).. 20 Bang & Aroost (2)... 3 Barnsdall Corp. 3% Bayuk Cigars. 7 45 34 6a Reldmg-HPmln"ly. Bendix Aviation Best & Co... Bethlehem Steel. Bethlehern Steel pf Bigelow-Sanford.... Blaw Knox. .. . s Bohn Alumn & Brass Bon Aml (A) (15).... Borden Co (1.60) . Borg Warner. Boston & Maine Briggs Mfg Co. 4 Bklyn Manhat Tran., 5 Bklyn Union Gas (5). Brown Shoe (3) : Brunswick-Balke 3 Bruns Term & Rwy. Bucyrus-Erie. ..... Bucyrus-Erfecvpf.. 20'% Bucyrus-Erie nf (2). % Budd (EG) Mfg. 3 Budd (EG) Mfg p! 1 Budd Wheel 214 Bullard Co 64 Burr Add Mach(40c). 13 Butte Copper & Zinc. 1 Butte & Superior. 815 Byers A M) 3014 Byers (A M) p 7% California Packing.. 1% Callahan Zinc & Ld 2 Calumet& Hecla. 7% Canadu Dry G A (1). 7% Canadian Pacific. ... 14 Cannon Mills (1). 414 Capital Admin (A). . 501% Car Clin & O sta (5). 30%% Case (J1) Co.... 41 Case (JD)pf (4). 5% Caterpillar Tractos 413 Celanese Corp. % Celotex vtc 14 Cent Aguirre 38 CentRRoOfNJ 2 Century Rib Mills 5% Cerro de Pasco. . 1 Certain-teed Prod 4 Certain-teed pf. 24% Ches & Ohlo (2%) 14% Chesapeake Corp (2). 3% Chi & Eastern 111 pf. 1% Chi Great Western. 10% Sales Add 00. 2 108 115 4 10s 12 8208 103 45 108 12 2708 1 408 4 9708 1 1 89 High. 14l o & + rEF Fr & oEeEat FF OFEry Dividend Rate, % Zontainer Corp (B).. 3 Contl Baking (A). 14 Contl Baking (B). 35% Contl Can (2).... 5% 3% Contl Diamond Fibre 20% 10% Contl Insur (1.20)... 1 *Contl Motors 10 4% Contl Oil (Del) 74 45% Corn Products (3) NE'A 117' Corn Prod pf (7) 2% Coty Ine....... 23 Cream of Wht t2%.. 24% Crown C&S pt (2. 'ID). 1 Crown Zellerbach. 9 Crucible Steel. 16 Crucible Stec) pt % CuhaCo...... 1% Cuban-Am Sugar. 10 “uban-Am Sugar pf. m Cudahy Packing 2% . 2" Curtiss-Wright (A). Cushmans pf (1) a'm Delaware & Hudson 17% Del Lack & Weatn. .. 2 Denver&RG W pf. 48 Detroit Edison (4) 17% Diamond Match (1 26'% Diamond Mach pf 1% 12 Dome Mines (1.30). 10% Dominion Stores 1.20 10% Doug Aircraft (7ic) . 2% Dresser (SR)Mfg(B) 29 Drug ine (3)... % Duluth SS & Atl 321 Dupont de Nem (2). 97% Dupont a. b pl(6) 5% 1t Eastern Roll Mills 66 46 Eastman Kodak (3) 130 115 KEastman Kod pf (6) .. b- 3% Eaton Mfg Co. . % Eitington-Schild. 10 Elec Ato-Lite 1 Electric Boat. 1 Elec& Musical Instr 314 Elec Pwr & L. 613 Klec Pwr&Lt 36 p! 713 Elec Pwr&Lt 37 pt, Elec Storage Bat (2). Endicatt-Johnson(3) gineers Pub Sve. .. Eng PSpf ww (3%5). aitable Of Bld(1).. 2153 Erie R R 2d pf. 4% 3 Eureka VaCleaner. . 2, Fairbanks-Morse.... Fairbanks-Morse pf . i Federal T.1&Tracion. Federal Mot Truck. .. Fed Water Service A. Fed'd Dep Stra(60e) . Fidelity-Phoen 1.20., Fifth Ave Bus (64c). 4 Firestone T&R(40c). First NatStrs (233). Florsheim pf (6). Follansbee Bros Foster-Whesler. . Foundation Co Fourth Nat Inv 1.10 Fox Film (A). 16% Freeport-Texas (2).. 97 Kreeport-Tex pf (6) 1% 1 Gabriel Co (A) 9 6% Gamewell Co 7% 23 Gen Am Invest S 241, 13% Gen Am Transp't(1). 54 11% 4% Gen Asphalt. S 18% 13 Gen Baking (2). 17 4% 2% Gen Bronze 313 1% Gen Cable 6 2% GenCable (A). 6!3 Gen Cable pf. 29 GenCigar (4). 10% Gen Electric (40¢) 10% Gen Bigc spee (60c) 21 Gen Foods (1.60). % Gen Gas& Elec (A). 24 Gen ltalian Ed 35%2 Gen Mills (3) 10 Gen Motors (1). 65% Gen Motors pf (5)... 2 Gen Public Service. 13% Cen Ry Signal (1)... 22 69% Gen Ry Signal pf (6) 108 % Gen Realty & Util. 21 Gen Refractories. 9%, Gillette Saf Raz (1). 47% Gillette Saf R pf (5). % Gimbel Bros.. 5% Gimbel Bros pf. 3% GilddenCo..... 3 Gobel (Adolf).. 12 Gold Dust (120) 3 Goodrich (BF). 9 Goodrich (BF) pf 914 Goodyear Tire&Rub. 27% Goody'r T&R 1st (2). 7% Gotham Silk Hosiery. 1 Graham-Paiz 3% Granby Con<ol 3%, Grand Unfon 2213 Grand Union pf (3) .. 11% Granite City Steel(1) 15% Grant (W T) (1) 4% Great Northern pf 5'% Great Northern Ore 7 Great West Sugar. .. 721 Great Wn Sug pf(7). % Grigsby Grunow. ... % Guantanamo Sugar.. 4 1% Gulf Mobile & North. 2 Guif Mobile&xor pf.. 10 21 % Gulf States Steel.... 8 3214 _16% Gnit States Stl £ 60s 19% 15 Hackahsack way) 2 1% Hahn Dept Stores... 88 9 Hahn Dept Stores pf. 314 Hall W F Printicg. 451 Hanna pf (7) 612 Harbison & Walker. 34 Hartman Corp (B).. % Hayes Body. 69% Helme (GW 15 Hercules Powder 1% 85 Hercules Pow pt (7). 35% Hershey Choe (3)..... 64% Hershey Choe pf(15) 206% 145+ Homentako M(110)- 2% 1 Houdaille-Hersh(B). 51% 44% Househd Fin pf 4.20. 20% 8% Houston Oll... 4% 1% Houston Oil (new).. 19% 5% Howe Sound (40c) 16% 11% Hudson Manhattan. 38 27% Hudson Man pf (5).. 7% 3 Hudson Motor Car 3% 1% H.pn Motors. . 18% 8% Illirois Central. 21% 16 Jllinois Central p: 46% 24 Industrial Rayon (3) 19% Ingersoll-Rand(1%). 12 Inland Steel...... 2 Inspiration Copper. . 1% Insuranshrs Del 15¢. 1% Insuranshares (Md) 2 308 212 125 108 2 308 1 4% Libbey Owens Gla. 49 Liggett & Myers(t5) 49% Ligg & Myers B (15), 13 Lily Tulip Cup (1%3). 10 Lima Locomotive. 63 Link Belt (40c) 10% I.iquid Carbonie. 83 Leew's Inc (1)... 1% Loft Inc. . 19% Loose-Wiles Bis (2). 10% Lorillard (P) (1.20). 13% Lou Gas&El A (1%). 214 Loufsville & Nash. .. 4 Ludlum Steel 9». McAndrew Forbes(1) McAnd Forbes pf (6) McCrory Stores A. McCrory Stores pf. .. Mclntyre P M(11%). McKeesport T P (4). McKesson & Robbins McKesson & Rob pf.. 4 McLellan Store: McLellan Stor Mack Trucks (1) Macy (RH) &Co (2). % Madison Sq Garden. . Magma Copper. . 15% 80 pis. Manhat Elev 4 Manhattan Shirt. . Marine Midld (30c).. rlin-Rock (1). on Motor Car. . Marshall Field & Co. Mathieson Alk (1%). May Dept Stores (1). Melville Shoe (1.20) . 4 Met-Gold Pic pf 1.89. Mexican Petrim Miami Copper. 5 Mid Continent Petm . Midland Steel Prod. . Mid St] Prd 1st pf(4). Minne-H well Reg. Minn Moline Pow . M SiP & S S Marle. Mo Kan & Texas. .... Mo Kan & Texas pf. . Mussouri Pacific. Mis<ourt Pacific pf Mohawk Carpet. Monsanto Chem 1% . Monigomery Ward Motor Products. Mullins Mfx. Mullins Mfg pf Moarray Corp. .. Nash Chat & St L Nat Acme Co. N Y Ont & Western., N Y Shiab'Mg (10c). N Y Shipbldg pf (7). Noranda Min (a1.10). Norfolk Southern orfolk & West (8).. Norf & Westn pf (4). North Am Aviation North Am (b8 % stk) . North Amer pf (3). Northern Pacific. yiihiwest Tele (1) 4% Ohio Oil.. 11a Oliver Farm 314 Oliver FEq prpf A.. 1% Omnibus Corp. 213 Oppenheim Collins 101 Otis Elevator(60c). 9313 Otis Elev pf (6) 13 Otis Steel. . 214 Otis Steel pr pf. 22 Outlet Co (). 43115 Owens 1116 3% 20 Pacific Gas& El (2). 43% 251 Pacific Lighting (3). 15% 6 Pacific Mills 315 1% rackard Motor s % Par-Publix cts Park & Tilford.. Park Utah. . = Parmelee Transport. Paths Exchange. Pathe Exchange (A Patino Mines. | Penick & Ford (1 Penney (1 C) (1.2 Penny (1 C) pt (6) Penn Dixie Cement. Penna R R (50¢). .. .. Peoples Gas Chi (5). Peoria & Eastern Pere Marquette. ... Pers Marquetta pf. Pere Marquette pr pf 3 Pet Milk Petrol Corp of Am. Pheips Dodzge. . Phila Co pf (6) n. Phila & Read C&1... Philip Morris&Co(1) Phillips Petrolenm Phoenix Hosiery.. Pierce Oil. Pierce Petroleum. ... Pillsbury Flour(§0c) Pitts Coa Pitts Coal pf.... % Pitts Steel pf.. Pitts Term Coal pt % Pitts United pf. Pitts & West Va. Pittston Co. Plymouth Oil. Poor & Co (B).. Port Ric Am Tob(A)" Postal Tel&Cable pf. % Pressed Steel Car.. 195, I'roclor&Glm(ll/.). 554 331 Pub Sve NJ (2.80). 125 107 Public Sve NJ pf (8). 8815, 68 Public Sve NJ pf (5). 1031 93% Pub Sve GREDF (5).. 36 18 Pullman Corp (3) 25 & 1% % FREEFRE (] FEFESF £ 11 EEIRIEIRN PE EFEFEES o ¥ FEFFET rescdar 1034 128, 361n 104 i T R wxsd ~Prev. 1033.~ H Low. Stock and . Dividend Rat, % Richfleld Oil. .. t% 11* Kay-l Duteh n s.rnw-y Stores (3) 72 Safeway Strs pf (8) 80% Sa y Strs pf (7). ad. .. 6% St Joseph L 1 28 St L-San Fran pf. % Schulte Retail Stores Scott Paper (1.40)... % Seabosrd Air Line. 15 Seaboard O1l (150c) 12% Sears Roebuck. 1 1 ' Seneca Copper. % Servel Inc... % Sharon Steel Hoon... 2% Sharp & Dohme. 65« Shattuck (FG) (24c) . 4% Shell Unfon Oil.....: Stmmons Co. 4% Simms Petrolm (36¢) 3 Skelly Oil. 8 Sloss-Shefr Steel pf % Snider Packing. Socony Vacuum. 6 15% So Port Ric Sug 1.60. 17 1 1 10% 15% 15 Texas & Pacific 1 315 5% Twin Citv Rap Tr pf. 21 4 5% 1 1% 17 1 19 3 5 7 11% % South Cal Edison(2). 4% Southern Pacific Southern Railway. Southern Railway pf So Ry M & O ctfs(4). 4 Spang Chalf pf. .. Sparks-Withington Spencer Kellogg (60c) Spiegel-May-Stern. . Standard Brands (1), 90 Stand Brands pf (7). _ Stand Com Tobacco d Gas&El pf (4). 36 Stand Gas&EI pf (6). 6 Stand Invest Corp. 5 Stand Ol Calif (2)... 188 Stand Oil Exp pf (5). .1 Stand Oil Kansas. . 1 % Stand OfI N J (1) 193 Sterling Secur (A). Sterling Secur pf. . Sterling Secur cv pf. 4 Stewart Warner Stone & Webster. . 4 Studevaker Corp. . .. Studebaker Corp pr. Snn Oil (1) Superior Steel '» Telautograph (1) 10 * Tennessee Corp. Texas Corp (1). 18! Tex Gult Sulphur(1) 140 3 Tex Pacific Coal&Oil. 10 Tex Pacific Land Tr. 47 Thatcher Mfg Co.... 30 The Fair..... = The Fair pf . 508 Thermoid Co Third Avenu, Thompson (J RY (1). * Thompson Products Thompson Starrett. Tide Water Asso Oil. 3 Tide Water Assoc pf. s Timken-Detroit Axle 41 Timken Roller Bg(1) 108 Transamerica Corp.. 30 Transue & W' 4 Tri-Contl Corp...... 55 Tri-Contl Corp pf(6). 2 4 Trico Products(233). 6 Truscon Steel., « 1008 Ulen & Co = 3 Und-EIl-Fish pf ¢ 108 Union Carb & C (1).. 141 Un Oil of Calif (1). 23 Union Pacific (6) . Union Pacific pf (4). 4 Un Tank Car (1.40).. Unit Aireraft United Biscult (1.60) Unit Biscuit pf (7) Unit Carbon. . Unit Corp (40c) . Unit Corp pf (3) Unit Electric Unit Fruit (2) Unit Gas&Tm ( Unit Gas&lm pf (5) ., 4 Unit Piece Dye Wke. U S & Forn Secur. Freight. . Gypsum (1). Hoftman. . U S Ind Alcohol. ] S Leather. ... U S Leather (A) U S Pipe&Fdy (500) . SP&F 1stpf1.20.. Realty & Imp. . Yssnulnfub. Tobacco (4.40).. United Stores (A)... Unit Stores pf (3¢ ). iv Leaf Tob (2)... Univ Leaf Tob pf(8). Univ Pictures istpf. 10s Univ Pipe & Rad pf.. 208 I Par& Lt (A) 25 Corp 1 Vanadium Corp..... 44 Van Raalte 1st pf.... 10s Va-C ical. 4 1 108 2408 408 Va Elec&Pw pf ). Vuican Detinnin: Wabash R R Wabash pf (A). \dor System (1). Walworth Co. .. Ward Baking (A ). Ward Baking (B). 4 Ward Baking pt (1) Warn Bros Pictures. Warner Quinlan Warren Bros Warren Bros cv pf. Warren Found & P. . Wesson O & Sn (50¢) Wesson O&Sn pf (4). West PaElecA (7).. 90s i West Pa Elec pf (6). 1208 West Pa Elec pf (7). 2808 West Pa Pwr pf (6).. 108 West Pa Pwr pf (7). % Western Dairy pf A. % Western Dairy pf B. Western Marylend. . Western Md 24 pf. Western Pacific. 4 Wester Pacific pf %« Western Union. % Westing’se Air B(1). % Westinghouse Elec. . 13 Weston Elec Instr Westvaco Chl (40c). . % Wheeling Steel White Rock M S (2). »1»' = “- | | generally lower, —1t errmp were well absorbed and - % Iative excitement the past +1n | that it was surprising the setback did —1a = -1 ‘suyn Trust STOCKS IRREGULAR .| AS MARKET CLOSES 00. High. Low. aane O % Sy Raitroad Shares Take Lead- + % 2% ership as Recovery Fol- H lows Early Dip. BY GEORGE T. HUGHES. Bpecial Dispatch to The Star. %| NEW YORK, May 2.—An erratic and 4 nervous market for stocks, rapid fluc- % D tuations in commodities and recovery %! of the dollar in terms of foreign cur- | rencies were the day's developments in %! 15 | the markets. Stocks had periods of reaction, one % %|of them at the opening and one early in the afternoon, after it was learned that Socony-Vacuum Ofl had omitted { the dividend. All day there was switching from in- dustrials into the rails and st the close the carrier group Wwas stroi with some issues at new highs for among them Atchison and j}tlvmu Throughout the session the market was always more active on the rallies than on the reactions. ‘ Wheat closed up 1 to 13 cents = bushel after earlier declines. ~Cotton | was slightly lower in the late afternoon. ~ "I Silver sold off 35 to 95 points. = |, In all these movements there was nothing significant of any change of at- 12 |titude. It was simply the readjust- 2"‘menl. of the speculative position after “ a long advance. Prices for stocks at the opening were in some cases a point or more, and the market dragged alcng lior the first hour unable to make progress in either direction. During this time the volume fell off. The turnover in the first half hour vas 1, | 530,000 shares, against 1400.000 Mo |dly %! The selling was not followed U ol:- the market regained its early loss under the leadership of the railway shares. = ”- | The feeling seemed to be that a re- action was in order after all the specu- week and not go further than it did. All the foreign exchanges weakened, % {but that, too, was natural after yes- 9 |terday’s violent advance. an advance that depreciated the dollar in terms of the franc to the lowest in more than 50 years. Sterling was strong in Lon- | don and opened up & half cent on this ,s(de but thereafter sold off for a loss : of about as much. French francs were | down 6 to 10 points and all the Euro- pean gold currencies reacted. An unfavorable dividend announce- ment came out just before noon in the shape of omission of the dividend ion Socony-Vacuum Oil due at this time. Heretofore 10 cents a share had been paid quarterly. The company's statement said that no disbursement - 7| would be made because of the unset- — % tled conditions in the industry and that officers and employes receiving more than $1.500 to $1.800 a year { would have their compensation cut 10 +1% | per cent. 'BANK OF DAMASCUS | ON 100 PER CENT BASIS Special Dispaich to The Star. DAMASCUS, Md., May 2—The Bank of Damascus, which has been operating on & 2 per cent withdrawal basis since the Maryiand banking holiday was de- clared, resumed operations on a 100 * | per cent basis today. {1+ was announced by William R. ‘Del-.shmun president, that the direc- tors had taken care of the items to which the State bank examiner hac taken exception without calling ypon the stockholders and depositors to put up any additional funds. U. S. TREASURY BALANCE. By the Assoclated Press. Treasury receipis for April 29 were 1$2,878.47390; expenditures. $12,346.- |771.28: balance. $240.752.591.92. 'Cus- | toms duties for April were $17,400,022.59. NEW YURK BANK STOCKS i | NEW YORK. May 2 (#).—Over-the- | counter market: Quotations as of 2 BANKS. BE Manhattan 21 Nat] o'elock. 129 » 1235 PFirst Natl (100) 1340 i Natl City (1) Public ¢ TRUST COMPANIES Bankers (3) 58" | Ces 6 Continental 1 Corn Exch ( Empire (1) ... Guaranty (20 Irvine (1) { Manufacturers |N'Y Title & 13| Title G & T 1501 . United States (#0) .| “Includes extra. *'AIR MERGER PROPOSAL IS FORMALLY APPROVED By 1he Associated Press. NEW YORK, May 2.—Plans for _, | merging North American Aviation, Inc., s, | and General Aviation Corporation were . | formally approved yesterday by the stockholcers of both companies. As a result of the consolidation, the General Motors Corporation, as the controlling interest in General Aviation, now becomes the dominating factor in North American Aviation and its wholly owned subsidiaries, sald a statement by Alfred P. Sloan, jr., president of the au- tomobile company. The wholly owned subsidiaries are General Aviation Manufacturing Co., B. . | 3. Arcraft. Corporation and Eastern’Air s Transport, Inc. the total of new issues, including all R. F. C. advances, shows an abrupt drop in comparison with the corresponding period in 1932, Capital Traction stock improved on the Washington Stock Exchange today when 25 shares changed hancds at 63 a gain of 3, since the last previous sale. ‘The better showing in March than in February has been noted, while another factor now being considered 4% Interboro Rap Trans % Intercontl Rubber... ‘ 62 2% Interlake Iron. * 16 51 21 Pure Oil.. % % s Pure Oil pf (2)...... 9% 5% Purity Bakeries (1). _ 6 % Radio Corp. ... 7 63 k4 Radio Corp pf (A)... 1 4 19 Radio Corp pf (B). 26% Radio-Keith-Orph. 9 1 . X 8 Wright Aerenautical 4 RR Sec 111 Cent Stk. . 11 i sen Wrizley (Wm) (3).. /1 Raybestos-Man (60c) Reading Rwy (1) 13% 7 Yale& Towne (60c).. 1 4% 2% Yeliow Truck....... 6 White Sewing Mach. 1+ % Wilcox Ol & Gas. Wilson & Co. .. + W ‘Wi'son & Co (A) -1 Wilson & Co pf. 8 3013 ‘ — % Woolworth (2.40). ... x 41 Worthington Pump. The Dutch East Indies will adopt the metric system in January, 1934. Office Rooms 76% Int Bus Mach (6). 2% Int Carriers Ltd 20¢ 6% Int Cement. 34 Int Combustion. 1% Int Combustion pf... 13% Int Harvester (60c) 2% Int Hydro-Elec (A). 313 Ch R 1&PacT% of. Chi St Paul Minn & O Reading 1st pf (2). is the saving of over $100,000 during the coming year by the recent adjust- ment in wages. The stock closed -today with 6'; bid and 8 asked. Potomac Electric Power 5'; per cent preferred stock sold tocay in small lots at 106',. Washington Gas Light stock figured in_an 1l-share turnover at 59, up & point from the last previous sale, 6% Chi Yellow Cab (1).. 5 Chickasha Cot O(1). 2 Childs Company. 7% Chrysler Corp’n % City Ice & Fuel (. 45 City lce&Fuel pf 6%. 1 City Stores. .. 73% Coca-Cola Co (7). 44 Coca:Cola (A) (3)... 1% Int Merchant Marine 6% Int Nickel of Can. 72 Int Nick Can pf (7). 214 Int Paper pf.. %4 Int Paper & Pwr (A). % Int Paper & Pwr (C). 2 IntPaper & Pwrpf.. 1% Int RysCent Am . 90 4% Int Rys Cent Am pf.. 5 4 Reading 24 pf (2). Reai Silk Hosiery Remington-Rand Rem Rand 2d pf. Reo Motor Car. Republic Steel Revublic Steel pi Revere Copper. Jevere Cop & Br pf... 8Y% 213 6 31 7 10:30 A.M. 1:30 P.M. 2 ¥ Young Sor & Wire. .. 5 1 Youngstown Sh&Tr. 8§ * 3% Zonite Products..... 6 Sales of Stocks en New York :nnu. 630,000 12:00 Noom. ,470.000 2:10 P.M.. Reasonable Rentals Connecticut Ave. & L St. N.W. Linkins Co., Rental Agents 1733 De Sales N.W. -1,720,000 Dividend rati i o ividend rates as given in the above table are the annual ca: Payments based on the latest quarterly or half-yearly declaratio = 13% Int Salt (1%4). 24% Int Shoe (2). 9% Int Silve: 24% Int Silver yf, 5% Int Tele & Teleg. 1% Interstate Dept S Intersta Dept Stor pf. 60s while a single share of Norfolk & Wash- ington Steamboat Co. stock came out at 81. Heard in Financial District. General Motors Corporation has de- clared regular quarterly dividends of Reynolds Metals(1). 60 Reynolds Tob (3).. 26% Reynolds Tob B (3).. ,Dait of trading less than 100 shares.” Paii 4% o seck. uPald i A e SFayavie Payable ' cash or ek, "4 Bras % Tn siock, stock. Tn’apectal preferred stock. " s Fayible in seri b BLtgtini 'ylc"-'r.’l 7 Colgate-Palm-Peet. 49 Colg-Palm-P pf (6).. + 1108 224 60 — % 20 104 J] 39% — 3 ; l 6 %) . 2% _ % Int Agriculture. 2 1% i = H % 5 % : 45 * 1 1 = 1 . " . . 8 i . . i 42 Stocks With Unbroken Dividend Records 12% Colo & South 1st pf. lflfll 9 Columb G&EI(bSOc). 480 FOREIGN EXCHANGE. ket was reported fairly active with of- fefings small md demand in moderate 25 cents on common stock, payable June 12 to stock of record May 11, and regu- lar quarterly dividend of $1.25 on the 85 preferred stock, payable August 1 to stock of record July 10. North American Aviation Inc., fol- lowing the recent reorganization, has announced a complete list of the direc- tors. Among them 1is Eugene E. Thompson of this city, who now con- ducts an investment business in the Shoreham Building. ‘The First National Bank of West- ‘minster, Mgml;u Just txeo[wnm on m per cent recent reorganizal ha been (‘mplaud ‘The bank’s capital structure is now made up of $200,000 in pre(erred stock and $125,- 000 in common stock. Provident Mutual Life Insurance Co. directors voted yesterday to continue the present scale of policyholders divi- dends throughout the present year, the '1‘.912“: scale that has been in effect since by 59 Columb Gas pf A(6).. : ] 25 12 6% Columbia Pict vtc. 23% Columb Carbon (2) 4 Commercial Credit... 16 Comc’]l Credit (A) 18% Comel Cred pf (1%). 70 Comcl Cred 1st(832). 18 Comel Inv Trust (2). 84 Comcl Inv cv pf(e6). 9 Comcl Solv (60¢). 1% Comwlth & Southn. . 21 Comwlth & Sou pf(6) 7% Congol-Nairn (60c).. 6% Congress Cigar (1). 31 Consol Cigar.. 3814 Con Cgr pr pf xwé % . 33 Consol Clgar pf (7) 1% Consol Film. . 5% “onsol Film pf. 40 Consol Gas NY (3.40). 83 Consol Gas NY pf(5) % Consol Textile. .. 1% Container Corp (A) lM- 11 Island Creek Coal(2) 36% 323 Jewel Tea Co (3) 6% Kansas City Southn 12 Kan City Sou pf (2) 2% Kaufmann Dept St.. 6 Kelly-Sp Tire 6% DL. 3% Kelvinator Corp 30 Kendall Co pf (6). 7% Kennecott Copper... 5% Kresge (S8). 27 Kress (S H) (fl). _30__14% Kroser Groeery (1), 37% Laclede Gaspf (5).. 22% Lambert Co (4).....: 3% Lee Rubber & Tire. 5% Leh Port Cement. ... 1 Lehigh Valley Coal.. 2% Lehigh Val Coal pf.. 8% Lehigh Valley RR.. lfiu +2 Markets at a Glance NEW YORK, May 2 (#).—Stocks ir- regular; rails rally: industrials ragged. ‘Bonds mixed; rail liens follow shares higher. o eign_exchanges weak; cur- rencies subside. Cotton quiet; very steady: renewed strength stock market, trade buying. mucm el re:uum i Corn, higher; punuu delays. am 15-25" higher, active. Hogs, steady to 1op, $4.05. Germany’s navy treaty must not exe T the Ve ‘volume. ‘ersailles over in (Quotations furnished by W. B. Hibbs & Co.) Nomjnal gold Selling checks Madrid, peseta Vienna, schillin; Budapest, pengo e Groms wlf!l'. sloty . gl ereu: Montreal, aiscount, 1’{5‘% MONEY MARKET. NEW YORK, May 2 W—Wy today in rates continued featureless Exchange continued with the 3 of 1 money at 1 per cent, can rate he market for call 18,000 men. funds. The bankers’ acceptance mar- changed from yesterda: '1"7. J ‘lg m.'« s June a3, . 100 B3 1js Bent. 3 i gag (o (o of '.b: R SILVER QUOTATIONS. casy, ¥ lower at 35%%. N Rates for time money and prime wmmerclll paper were un- U. 8. TREASURY CERTIFICATES (R:nmd by Chas. D. llrn" & Co.) oSt s Ao 34z4" 833:38833233 NEW YORK, May 2 m,-—nu sliver Descriptive klet Covering These Stocks Free Upon Request George M. Ferris & Co., Inc. Washingten B Nat. 5925 6% NOTES Secured by First Mortgages Safe—Conservatiz Wm. H. Saunders Co,, Inc. REALTO! | Dist. 1016 "1519 K st