Evening Star Newspaper, May 5, 1933, Page 12

A—12 wx% FINANCIAL : : A g FINANCIAL SISSON STRESSES || TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE | ADVANCEIN STOCK Received by Private Wire Direct to The Star Office. : : . 8% Congress Cigar (1).. 31% 9% IntSilver... 6 26% — %1 103% 89% PubSveGaR MARKH RESUMES fr 7 ¢ i cmur;:'::.‘ 9% 3% Consol Cigar. . 8 8 8 4| 50 24% IntSilver p: 808 43 36 18 nun::f:c«rp%)m 53 34! —_— gh. Low. _ Dividend Rate. 0% 31 Conso! Cgr pr pf 5% I =+ a0 7 T ‘ nt Tele & Tel 12% -+ % 2% Pure Oil..., g ¥ - ntersta Dept Stor p! Purity Bakerl : ead of Bankers’ Associa- 8 Adams Millis, ‘ 1% + ¥ 1% Consol Film, » 2% 1 lowaCentralRR.... 1 1% + | e T i N : i 1% Consol Pilm. .10 2 % 1 Iowacenminm w3 % s x| Trading Continues Heavy as New Tops Are Made §& tion Also Urges Sta- i 1o ¢ IR TS - 36% 23 Jewel Tea Co (3) by Leaders. 1+ 44+ 36 47% Air Reduction (3 e e D) 18 2% 29% 124 Johns-Manville. ... 29 28% % il Elec Appl. .. 66 35 Jones & Laugh pf(1) ilized Mone % Atrway .8% b5 Consol Ofl Corp. A | e O b Y 11% Alaska Juneau(60c). % i 95% Consol Oilpf (8).... 1 110 -100% K C P&Lt 1st pfB(6). 106 105% 6% 1% Cons RR of Cuba pf 6 13% 6% Kansas City Southn.. .9 13 13% [ BY EDWARD C. STONE. Lk e EopTaLl W 134 Gontainer Corp % 7 “x Kautmann Dept 6. o o ::2 7 1 .o 15 % Zontainer Corp (B! 12% 6% Kayser (J) & Co. " NRrancib i Stmon, Speesiient (ot Ehe 5 Alleghany Steel.. {3 Contl Baking (A)s 16% 6 Kelly-Sp Tire 6% 16% American Bankers' Association, urged 70% Allied Chem & D (6), % Contl Baking (B). 2% 2 Kelsey-Hayes (A) 3% 8 Government restoration of confidence, 6 Allls-Chalmers Mfg. 86 Contl Baking pt (4) 2 8% 3% Kelvinator Corp. sustaining of national credit, protection 5% Alpha Port Ceément 35% Contl Can (2)....... 18% 7% Kennecott Copper. of foreign trade, e NDE e e : 3% Contl Diamond Fibre 6 11% 6% Kimberly-Clark. stabilizing of ex- 18% Amerada Corp (2). 10% Contl Insur (1.20) 2 1 Kinney (GR)Co.... change and holding 7% Am Ag Chem (Del) 4% Kinney (G R) Copf.. to the good old law 8 Am Bank Note. of demand and 1174 Gorn Pro (1) amon 4 i &% ‘orn Prod p! :‘{fg‘ypr:’_ Eriad . Am Brake Sh&F 60c., 2% Coty Inc....... tasks now facing 7 Am Can (4).....eene A 23 Creamof Wht t2%.. Government lead- R B cmney Radlo Lee Rubber & Tir ers, in the luncheon i . ol s 14% Crown Cork & Seal. ., % Leh Port Cement adliess wilch he % Am Car&Foundry pt. 24% Crown C&S pf (2.70). sisye Am Chicle (13).. Lehigh Val Coal pf.. thade before the - - A'm"COm;llxlgohnl & 9 Crucible Steel. . s Lehigh Valley R R. . United States ‘ ‘A.n Encaustic Tiling Lehman Corp (2.40).. 19 Chamber of Com- p % Am European Secur., Lehn & Fink (2).....7 41 = = U Am&Forgn Pw pf(8) 20% Cudahy Packf: - New York baskers i Am & For Pw pf (1) s Gurtis Pubtishine. iEc & Wsavian). A v 2 Am & For Pw 2d pf. 30 Curtis Publishing pf. TiEa Nusepti. L Am Haw Stship (1) h b 1% Curtiss-Wright..... e L) that further refer- Francis H. Sisson. Am Hide & Leather. 2 Curtiss-Wright (A) Link Belt (40c) ence to it is timely. e Am Hide & Leath p 4% Cutler Hammer . . Regarding confidence, Mr. Sisson said: | g et . . “To restore confidence is perhaps the l R I Davess Stores (1) primary funetion cf the Federal Gov-! g Am loe pf (6) 4 - Ao Des caproie) ernment—confidence in our institutibns, A ‘Am International. .., b ff sy s wu 'son confidence in the efficiency of our Gov- | Am La Fr & Fom pf. é “ ')en":& . 0:;!“( ernment, confidence in the stability of 1 AT 28 St Ea e capitalistic_systems, confidence in our| 3 A T ocomuitive it 17% Dismond Metoh (0 own possibilities, confidence in the possi- ‘Am Mach& Fdy (806 . T pamiaMaEh ) bilities of recovery and of wise guidance % Avi MasHE Matot. > P toward recovery. That psychological ‘Am Metal Co. 7 4 10% Dominion Stores 1.20 element, In my mind, is perhaps the 513 Am Metal pf 7 10% Doug Alreraft (15¢) . basic mecessity of the whole situation. Am News (1%).....x 108 68 Drespsr Mg (A) .o Along with that, to do everything in Am Power & Light. .. 268 L R their power to sustain our national 9 4 20 Drug Inc (3) credit, to see to it that the cbligations % Am P&L $6 pf (1%) % Dunhill Interaatl... of our country are sufficiently protected Am Radiator. 3214 Dupont de Nem (2) that they will be honored and respected Am Rolling Mil 5 , 90 ' Dupont deN db pf(6)- not only here but abroad. To see to it ‘Am Safety Razor (3) . el that our budget at home is so balanced K AmSm& Ref...... 96 ~ : g kept = 5% 1% Eastern Roll Mills .““]‘ e Guyeunieptsioattie it AnEmA Rt - L 671; 46 Eastman Kodak (3 130 110 Eastman Kod pf (§) One of Paramount Tasks. e g 9% 3% Eaton Mg Co.. “Then, perhaps, in connection with Am Steel Fy pf (2)... "t. éi:‘:::g:fizm}g,"l our foreign situation, to ask of our 30 AmStores (23) 9 i 10 Elec Auto-Lite % 1 > 4 Am Sugar (2).. Government a more considerate pro- Electric Boat. Al Susarpra): Elec & Musical Instr. tection of American forelgn trade and A Alit Bitinyatrs Tob: . 4 . 314 Elec Pwr & Lt....... American igterests abrcad, with all the 9 Am Tel & Tel (9). 3 Elec Pwr&Lt $6 pf. Am Tob: B 9 ? ramifications that lead in the problem T (‘g)) o 9 Elec Pwr&Lt §7 pf. 1 of international peace and to the ‘Am Tobacco pf (6). . ;?{;cHSwflCn F-; @). = 11 restoration of economic order and the Am Type Founders g g8 sl g " it S z Marshall Field & Co. 29 equalizing and stabilization of exchange. | 350 0. 4™ Tvpe Firs ot 3 Engineers Pub Sve.. 10 : N o That, at this particular moment, is 91, Am Wat Wks ctfs(1) Hog Evb Brept(8). May Dept Stores (1). 12 perhaps one of the paramount tasks of | 5 5 Am Wat W 1st pf(6). - 5 BngPSpfww (54). ” Maytaz Co. . S0 the hour. 91 315 Am Woolen. ... Bng PubBve nL6) -~ Melville Shos (1.20). 10 “But to proceed from that in our own Am Woolen pf..... i O ;;qimfi!g- of Bla(1) o “ 2 Mengel Co.....0nn.n 115 country, it scems to me one of the pre- Am Writ Paper ctfs BUCRERS Mengel Co pf..... eminent tasks they face is to legislate| 3y Am Writ Paper pf. Rt 7 Mesta Machine(60c). for the United States as a whole, to '« Am Zinc & Lead Helalngt i s Met-Gold Pic pf 1.89. Wipe cut class and sectional and party ‘Anaconda Coppe: 5 13 e Clener Miami Copper. ...... distinctions just as far as possible, and | 15 Anchor Cap (60c) —l%_ % BracsputoBrod. e Mid Continent Petm. to not let the differences between the 4 2% Andes Copper.. 3 25 UL Mo " 3 Midland Steel Prod agricultural West and South and the 4 Archer-Dantels (1) E 4% Federal Lt&Traclon. 5 Mid Stl Prd 1st pf(4). industrial East and North reach the Archer-Dan-pf (7).., 40s 15 Fed Mines & Smit - Minne-H'well Reg. Point of economic disorder or of govern- 4 ‘Armour of Del pf(7). 4 Hederal Mot Eryuck . * o Minn Moline Pow. Etpesios Steal. T, mental prejudice or participation. : Armour of 111 (A) Federal Screw Wks. Minn Moline P pt —L___¥ Symington (A)...... MONEY MARKET. “There is no new era, as we discov- Armour of 111 (B) Fed Water Service A Minne & St Louis. % % % 81y Telautograph (1 : ered in 1929. Nor is there any new| 23 Armour of Il pf. 7 Fed'd Dep Stra(60e)... Minne StP&SSM11.. 108 1% Tert e NEW YORK, May 5 (#).—Time money Qeal, in the broad sense, today. The| ‘Atnold Constable ¢ T Fidelity-Phoen 1.20. . Mo Kan & Texas. ... % 10% Texas Corp (1), 7 rates for the shorter maturities ruled Id ‘order stands and the laws which Artloom Corp iy 7 Firestone T&R (40c) . . " e : . el T % 173 slightly firmer, but the market was :o\‘e:ned it, and which have governed| ¢ Art Metal Cons 5 . Firestone T&R pf(6) 68 A 4 m;xmfngrf' e on i ;exg"l{ns“clph';m . " otherwise unchanged. ~Call money on and guided humanity through thou-| 27 Assoclated Apparel. . 2 9% 43 First Nat Strs (233). i Missour! Pactfic pf. . 7 Tex Pacific Land Tr 39 the Stock Exchange ruled at 1 per cent. sands of years, still stand. The good 315 Asso Dry Goods. ’ ; % Florsheim Shoe (A) 2 Mohawk Carpet.. ... ¢ Thatcher Mfg Co. ... In the outside call market the rate old law of demand and supply is just Asso Dry G 1st pf. ... Follansbee Bros MoneantolChaanic, A The e CY continued at 3; of 1 per cent. Fed- as real today as it was 6,000 years ago Asso Dry G 2d pf. Food Machinery. 3 8% Montgomery Ward.. 655 “ Therhaotd Coo., eral funds were reported slightly easier in ancient Egypt, where we read first, Associated OIl. : 5 . e Wl . 49% Morris & Essex (3%) Third Avenue at }pa’% of 1 per cent. perhaps, cf its operation. Atchison. ... 7 BEON CN0« Mother Lode. ....... 7 . Third Nat Inv (30c). e Atchison pf (5) 9 - 8 ) 3 4 Fourth Nat Inv 1.10 > 3 : Praises Record of Banks, NGl S % Fox Film (A). £ X MotorMeter G 4 EL o G A R R U. S. TREASURY BALANCE. Turning to the present banking situ-| 13 Atl Gulf&West Ind. . E ;"“k'"ls,}m"" PI(T). 113 Motor Wheel s v i STt By the Associated Press. ation, President Sisson asked for a cer- Atlantic Refining (1), Frzenor'-_‘_exufu).‘ 1% Mullins Mfg. . 5 Tide Water Asso Oil. 5 ‘Treasury receipts for May 3 werg tain degree of charity in the “general 9 Atlas Powder..... et i 5 Mullins Mfz pf. 38 13 4 Tide Water Assoc pf. 7% 37 $74,922,49740; expenditures, $28,224,~ condemnation of bankers that is sweep- 5 _ Atlas Powder pf (6). e Tt 1% Mrray Corp 3 43 Timken-Detroit Axle 3 882,84 balance, $591,567,545.47. Cuse ing the country, because bankers are Auburn Auto (2). 9 e — et dpf. . 8 Myer (FE) & 13% Timken Roller Bg(1) toms dutics for three days of May were unable to foresee the unforseeable.” He % Austin Nichols @ : : 1 Gabriel Co (A). —_— 6 2% Transameriea Corp.. $2,330,919. continued: .13 Au 1(; .\'ié-huls;\)(l) 508 15 5 : 黑- fien :m :nvestmr 2 3 7% 11% Nash Motor 2 & 7% + 2% Transue & Willlam: “The sober fact is that over a pe- tion Corp (Del 418 2 Gen Am Inv pf ww 6. » 3 . 9 ' + 2% Tri-Contl Corp.. 5 £lod of 64 3ears in which fhe records | o mpm et Fre e - % - k4 S LR i eep i) s : PARIS BOURSE PRICES. ve been kept, the amount of money s 3 b : . G phal = = - . ‘rico Products(234). . K ) — - Reened to depositors from closed banks Baldwin Locamot pt. 520s 4 : 13 Gen Baking (2). Nat Biscult (2.80) ; 5 2 TrusconSteel....... TN 5 (R bt t Baltimore & Ohfo. ... 223 3y % 2 Gen Bronze.... 5 Nat Cash Reg (A)... 9 : 91/ 5% Twin City Rap Tr pt. Iules & faes ;4 is a little over 80 per cent. So that Baltimace & Ohlo... o2 ; : ST s S BancAtsrser et I 2 Gen Cable (A Den At e Ulen & Co. —13, .| Exchange on London, 84.85. The dollar money in banks has not been any more % Bang & Aroos pf (1 - Gen Cable pt. R : e ) 1 Evchange on Lonc severe than a good many of you men E - . . Union Bag & Paper. . 4 Rt TR yeifuteredtn yoax oy (nsicie i Bayuk Cigars. - 100 Gen ciear e 7. < 75 Nat Lead pe T (8 : e NEW YORK BANK STOCKS anty Trust in talking about the situa- 5 Beech-Nut Pkg (3). . 2 % Gen Elec spec (60c) " 7 ) Nat Ry Mex 2d pf... 4 Union Pacific (6).... % 5| NEW YORK. May 5 (#)—Over-the- tion and the loss of money, securities, 4 Belding-Hemingway 4 4 Gen Foods (1.60) Nat Steel (50¢). Union Pacific pf (4). counter market: ¥ business and commodities, said, ‘The Belg NRy ptpf4.09.. 1 75 ‘ 3 Gen Gas&E1 7% pt A. % 10% Union Tank Car 1.20. mistake I made was in not selling out Bendix Aviation. L. Gen Mills (3).. > 16'3 Unit Afrcraft all my stuff in 1929 and putting all my . Best & Co. . Gen Motors (1) 511 Unit Afrcraft z money in the Bank of United States. 6514 Gen Motors pf (5)... 17 b e Comme I'd have gotten 65 per cent back then. ! ¢ % 3% Gen Printing Ink g ‘ Neisner Brothers. 10% Unit Carbon, .. 5 st = on Fifth Ave (*44) P, 1205 “So we find in spite of this great ) Eisalow Saitoa Gt Public Barvice Nevada Con Copper. 4% Unit Corp (40c). | First Netl (100) el 1395 pewspaper publicity which has been ’ Blaw Knox...... y 5 2 o i shddn 24% Unit Corp pf (3). . 13% Cen Ry Signa e Newport Industries given the question, that there are still % 9 Bohn Alumn & Brass % L (1) ¥ ¢ q % Unit Dyewood s 69% Gen Ry Signal pf (6 7 Newton Steel. s yewoed. o 3 substantial number of banks serving | 31 Borden Co (1.60). et ; NY Air Brake. 28% Unit Dyewood pf(7). TRUST COMPANIES. the public today. There are today over 2% % Borg Warner. e Unit Electric Coal Benkers (3) 51 Gen Kealty & Ul : 8 N Y Central...... g c 3 3 Bookers O & 16,923 banks open and doing business. | 13 Boston & Matns e e T 5 N Y Chleagb & St L. 23% Unit Pruit ). 4 &5 Yanover (1) “Their total resources are something over % % Briggs Mfg Co. 9% Glllette Saf Raz (1), . .| 7 2% NCChi&StLpf. e o paneIm, (1] Ghemical (L80) ... $40,000,000,000. For the most part they 3 Briggs & Strat (1)... 47% Gillette Saf Rpf (5). 8 : N Y & Harlem (5) . 3% UnitDlecaDre 3 Sontinental (1 are serving the business community as 4 % Bklyn Manhat Tran., 3, Gimbel Bros. " " . 4 NY Investors. 8 7 Y Empire (1) .... effectively as possible. There is some- E Bkiyn Man Tr pf (6), 3 Y 4 5% Gimbel Bros pf. 3 N Y N H & Har! . 3 %l saw 18 Guaranty (20) . thing like perhaps $4,000,000,000 tied up | 5 3! Bklyn & Queens..... 5 3% Glidden Co... e e NYNH&Hartpf.. 7 % | 1075 101% < in banks that are not open, which the 2 3’ Bklyn Union Gas (5). 48 Glidden Co pr pf (7).. N Y Ont & Western.. 3 8 1% Government is proceeding to try to Brown Shoe (3). 3 Gobel (Adolf).. ‘ N Y Shipbldg (10¢). loosen up as far as possible. Those Brunswick-Balke. ... 17,000 banks are immensely better off, Bruns Term & Rwys. better prepared to serve the public to- Bucyrus-Erie day than they were before the banking Bucyrus-Erie cv pf.. crisis_came. One of the effects has| 5! Bucyrus-Erie nf (2). 1 Budd (E G) Mfg. been to greatly increase banking capital. Budd (EG) M!; = Politics in Banking Scored. 4 Budd Wheel “In 1929 the banks of this country : 2% Bullard Co.... + 1+ EFEFEEF FER S BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, May 5.—Stocks ad- vanced into new high ground today in g“ g:“',:;: ‘éz;";’,;r“gf-u another session of great speculative & ‘BaymoMaietatoe activity, They did not hold all thetr 1% Reynolds Spring. ... 5 5 gains and the close was not much above i ek the finals of the day before, with & 17% Royal Dutch. sprinkling of declines, but, on the other hand, there was no sign of a change feway Stores (3).. in attitude toward the market. 80% Safeway Strs pf (7). The dollar was acutely weak in Lon- €% St Joseph Lead...... don and in Paris. Sterling exchange touched the $4 1mAl'k "h‘:lly 1;1 the 'gly and reacted only 2 ts from that 2% Savage Arms. . top. In Paris the dontke dropped almost o Schulte Retall St to_21 francs before rallying. % Schulte Ret Stor pt Wheat and cotton made new highs and other staples were more or less L’ % Seaboard Air Line pf e closed up 75 to 1% = ; Seaboard Ofl (t50c).. Arrangements had been made, it was s bk ; announced, for the sale of a Stock EX- Second Nat Inv pf. . change seat at $150,000, up $13,000 from Seneca Copper. Bates il the last transaction. e Tt The stock market leaders at the close Sharon Steel Hoop. .. were United Aircraft, American Tele- Sharp& Dohme, . phone and Standard Ol of New Jersey. 14 Sharp & Dohme pf(2) The stock market opened higher under Shattuck(FG) (24¢). 9 “®, (& flood of buying orders, the execution Shell Transport & Tr of which not only sent prices to new Shell Union Oil i ‘ 2. | peaks, but caused a lag of 10 to 11 min- Sheil Unfon Ofl pf... 12 g utes on the tape and brought a turn- Stmmons Ca. ..... over in the first half hour of over & Simms Petrolm (35¢) million shares. The gains in points Skelly Oil. . 9 were not large and there was heavy real- Skelly O1l pf ww, 1 izing on the advance, as was natural at Sloss-Sheff Steel pf. . 6408 23 this stage of the movement, but the sell- Snider Packing. ing was well absorbed. Speculative ac- Socony Vacuum tivity shifted from group to group, also Solv Am pf ww(5%). a normal symptom in an excited bull So Port Ric Sug 1.60. $ 9 market. 8o Tort Ric S pf (8).. In many ways the market resembled South Cal Edison(2). the 1929 speculation. The difference Southern Pacifl was in the lower price level and in the Southern Railway... much smaller public participation. Out- Southern Railway pf side_interest, however, was incri : Sparks-Withington. . as the larger attendance in every - Spencer Kellogg (60c) er’s office demonstrated. Sperry Corp.... Among the new highs on the move- Spicer Mfg pt (3) ment were those in General Motors, Spiegel-M: 2 General Electric, American Telephone, Standara A 1 Pennsylvania Railroad, New York Cen- 5 Stand Com Tobacco. . 2 y tral, American Sugar Refining and 122 Stand Gas & Elec. . 3 . | stocks of that caliber. The character Marlin-Rock (1)..... 14 Stand Gas&El pf (4). 7 of thenleadrersthlp e &netofdt‘gz most Marmon Motor Car.. 85 Stand Gas&El pt (6). i 3 Teascuring features of the trading. F % Stand Gas&E1 bt (1) £ Aside from the continued depreciation Stand Invest Corp. of the dollar in terms of sterling and Stand Ofl of Cal (1) A the continued advances in agricultural Stand Oil Exp pf (5) staples, the market was influenced by Stand 01l Kansas 3 the constructive address of the Presi- Stand Ol N J (1) dent before the United States Cham| Sterling Secur pf. 1 — of Commerce in Washington and expec- Stewart Warner, 6 tation that Mr. Roosevelt's radio talk Stone & Webster. Sunday night would be equally inspiriny Studebaker Corp. " Doubt remained as to how far the Presi Studebaker Corp pf. B | dent would go in exercising the powers Sun Oil (1). % entrusted to him in the inflation amend- Sun O11 pf (6) ment to the farm relief bill, but it was Superheater (50¢). 2 hoped that he would give some hint of Superior O11 his intentions to the radio audience. 1% Reo Motor Car. 4 Republic Steel. 9 Republic Steel pf, 1% Revere Copper. Frssrssssssf s a2 Y o= 2 10% 33 30 141 Kroger Grocery (1 224 Lambert Co (4). + oAl AL HPFERREFRE R EFE SR F P+t 44ttt * s Trreky esne At At 3 o D U4+ ++ +44 + FERFER 2FS 813 Leew's Inc (1). - Loews Inc pf (634).. TOLEINO - sevsovioze 19% Loose-Wiles Bis (2). 10% Lorillard (P) (1.20).. % Louisiana Ofl.. 315 Louisiana Ol pf..... 13% Lou Gas&El A (1%). 21% Louisville & Nash... 4 Ludlum Steél.. A McAndrew Forbes(1) McCall Corpn (2).... Mclntyre P M(11%). % McKeesport T P (4). McKesson & Robbins McKesson & Rob pf.. McLellan Stores. .... % McLellan Stores pf.. Mack Trucks (1).... Macy (RH) & Co (2). Madison Sq Garden. . Magma Copper. . Mallison & Co. Mallfson & Co pf. Manati Sugar. Manati Sugar pi Mandel Bros. . Flt+ L+t E ]+ 143+ 1+ +1 Bl i FEFEEF F F4 m e ® +l4+4+1 4+ F X F FEFP FFE FIEFER FE FEFEIFRF FFEEF PEE Hlabtbdl+4 T Lot 3 PH4+41010 Fl+ 4+ t+++1 11+ FESEENEERL i 4+ s AR EFEES FRE ¥ +++1 sEFEe L AN I+l 1++1+1++ L4+ R o Lh++ | +44+ T RS 13 + 9 L3 12 Gold Dust (1.20). 3 N Y Shipbldg pf (7). ‘éfi 65 . 69 Gold Stock Tel (). 66 Noranda Min (a1.10) . : o 3 Goodrich (BF). 1% % Norfolk Southern. ‘1% = i 9 Goodrich (B F) pf. 143 111% Norfolk & West (8 : e 9% Goodyear Tire&Rub. %| 8 4 North Am Aviation.. Tl . 2 27% Goody'r T&R 1st (2). 31% 15% North Am (b8 %stk). 405 = 7% Gotham Silk Hoslery 46 32 North Amer pf (3) s 1 Graham-Paige. ; 4| 74% 48 North AmEd pf (6 . 2 3% Granby Consol. . 5 <] 20% 9% Northern Pacific had about a little over $6,000,000,000 of 6% Burr Add Mach(40c) x 68 3% Grand Union. 7 2% 1% Norwalk Tire & Ru banking capital. The banking capital| 9% 2 BushTermdebstk.. 6 5 2214 Grand Union pf (3) e today is over $8,500.000,000 and we have| 1% 14 Butte Copper & Zinc. y 1114 Granite City Steel(1) 9 10,000 less banks than we had then.| 2% 1i Butterick Co. o 15% Grant (W T) (1). % 29 3 18% 3% Oliver FEqprpfA. So, while we have decreased the num-| 20% 8'¢ Byers (A M). 4% Great Northern pf. 1% OmnfbuxCorD ber of banks, we have increased !l":e 48 30% Byers (A M) pf ( _51'4. Great h‘;;:r!hem Ore. s 3 Sit 3. Opvinkaiz Collines: measure of protection which the pub- 191 7% Callfornta Packing.. : 0 1, Grest WestSusar, P ey e e " % Callahan Zinc & Ld. , [+ . o ik e Wa S e 4 OHEBIGT hndum:t 50 nxmny banks, of sou;’se‘ ta 5 2 Calumet & Hecla. . ! ;- Gr :s! Yy runsow‘ 10% 2% Otis Steel pr pf. Jpotection might be 4 grod deal grester] 5. 2 iCampbell-WyantFy. 1% Gt Mobile & North i 58% 311 Owens Il Glass (2).. e various units offered, but the| 11y 71 Canada Dry G A (1), : e s o e point I want to make is when dealing| 145, 71, Canadian Pacific 24 ‘ % 16% Gulf States Stl 1st pf 81% 20 Pacific Gas&El (2).. with the Federal Government the fun-| 25" 14 Cannon Mills (1), ‘ o W aR) 43% 25% Pacific Lighting (3) damental difficulty in the banking busi-| 7., “41; Capital Admin (A). .- o ve 25 Hacken WatpfA1X 3?,; & ;:g:g: ;1:111;4*;‘. " ness has been political and not eco-; g1, 301 Case (J I) Co.. ) 1% Hahn Dept Stores. L T nomic nor business. 69% 41 Case (I 1) 110 101% t s ot (4) 314 Hall W F Printing. & It is because they permitted banks| 14z “£i; Caterpillar Tractor.. 2 = 2 St e 3y 1% Packard Motor Car.. 345 to be organized with such a small ‘ ; 1% % Panhandle Pro&Ref. amount of capital and in such great 45 Ceiaueme/goip.. % 12 T +13 45% Hanna pt (7)... = 14 Par-Publix cts . 14 Cent Aguirre (1%) 614 Hagbison & Walker. 4 2 3 numbers that it was not possible for S Contir R M ¢ y 2 k Park & Tilford. ..... those banks to live in a period of eco- 52 Gehtn BB MG : % EIyenBeTy Park Utah. = nomic depression and reaction. It was bk Ce e To 1.3 | Hercules Moton Parmelee Transport not & question of dishonesty or bad L gty b1 Bemoiies Domde % Paths Exchange. .... management in most cases, and while 1 Certain-teed Prod. i 2% 2% — ¥ fig‘ e 1;°"°“'”~ Pathe Exchange (A). there are flagrant instances, which we 4 Certain-teed pt.. 2 % Hershey Ch“ “t’“s" Patino Mines........ all greatly deplore, perhaps the average 24% “hes & Ohlo (2%)... ” 4% Hershey Choc pf(15) . 25% Penick & Ford (1)... was no higher than in other businesses, 147 Chesapeake Corp (2). Y Codml e 19% Penney (J C) (1.20).. but at any rate, the real cause of that % Chi & Eastern Il pt.. % i 4 DR e % 4% bl 90 Penny (JC) pf (6).. situation was _before thousands of 1% Chi Great Western. .y 206% 145 Homestake M(110) % Penn Dixle Cement banks were permitted to exist Which 2 Chi Great Westn pf.. 7 43 Houdallle-Hersh(A). 414 Penn Dixie Cmt pt never should have been permitted by 4 1 ChiMiiStP&Pac... 1 HoudsilleHerah(B). 3 13% Penna R R (50c). . Government, and the reasons they ex- 11 Chi MJl StP & Pac pf. 454 Fousshavis PCEY - 41% Peoples Gas Chi (5). isted were political and not economic,” 1% Chi & Northwestern. Sl tl % Peoria & Eastern. he asserted, % 2 Chi& Northwest pf., 1% Houston Oil (new). 4 3% Pere Marquette. In conclusion the A. B. A. president 2t Chi Pneumatic Tool., o C ol aiesy 415 Pere Marquetta pf... reviewed the 14 points for better bank- 1% Hadeon Manhattan. o % 6 Pere Marquette pr pf ing which were adopted at the recent 2 H““"’“ Motor Car. . % 6% Pet Milk......... 5%/ meeting of the association’s council at 2% Chi R1& Pac 6% pf. % Hupp Motor: 4% Petrol Corp of Am... Augusta, Ga., and expressed the hope| 1 32 ChiRI&Pac7%pf. 11 814 Illirois Central, that many of these suggestions will 6% Chli Yellow Cab (1).. 2208 Tlinois Central p ven full and careful consideration be- 5 Chickasha Cot O(1).; 12 % Indian Motor Cycle. . ore the Glass banking bill is finally 2 Childs Company. 16 1% Indian Refining. ... . 2% Phila & Read C&1... 24 Industrial Rayon (2) 8 Philip Morris&Co(1) 19% Ingersoll-Rand(1%). 4% Phillips Petroleum. .- Lanston Officers Are Re-elected. T4 City Ice & Fuel (2).. 12 Inland Steel......... 5 1% Phoenix Hosiery. ... %" All officers and directors of the Lan-| 5213 45 City Ice&Fuel pf6%. 40s § 2 Inspiration Copper % 1% Pierce-Arrow. ston Monotype Machine Co. were re- 114 City Stores (A)..... 40s 1% Insuranshrs Del 15c.. 4 'Pierce-Arrow pf named at yesterday's annual meeting 5 Clark Equipment.... 1 1% Insuranshares (Md Y% Pierce Oil. when the stockholders met in Alexafi- 10 Cluett-Peabody (1).. 2 4% Interboro Rap Trans. A 3% Pierce Oil dria. The officers include J. Thilman e 9 5% Intercontl Rubber. % Pierce Petrol . Hendrick, chairman of the board; Har- . 9% Pillsbury Flour (1). vey D. Best, president; T. Frank Mor- % 7 Colgate-Palm-Peet. . 3 1% 1% 1%+ 83% Pirelli Co A (h2.57). gan, A. E. Pagola and Frank J. Rode- 49 Colg-Palm-P pf (6).. 75% Int Bus Mach (6) 4 PittsCoal...cocnnee ZFick, vice presidents; John A. Ferguson, 3 Collins & Alkman. 2% Int Carriers Ltd 2 1 5% - B% 5% + 4 Pitts Term Coal pf.. secretary: Allen R. Fretz, assistant sec- 315 Colo Fuel & Iron.... 954 6% Int Cement... % Pitts United Corp... retary; Wilfred Bancroft, treasurer, and 12% Colo & South 1st pf.. % % Int Combustion % % 85 15% Pitts United pf. Harvey W. Monks, assistant treasurer. 10 Col & Southn 2d pf. 2 6 1% Int Combugtion pf.. 6% Pitts & West Va.. The board of directors, including the 9 Columb G&EIl(bS0c). 5 % Pittston Co. ‘Washington members, consists of Har- 59 Columb Gas pf A(6). Int Hydro-Elec (A).. 48 8% 5 6% Plymouth O vey D. Best, M. C. Branch, Carl W. 45 Colum G&E pf B(5).. Int Merchant Marin % 1% Poor & Co (B Corby, John W. Hyde, jr.; J. Thilman 6% Columbia Pict vte. .. Int Nickel of Can. . 1% Port Ric Am T Hendrick, Adrian H. Larkin, Royal T. 2314 Columb Carbon (2).. Int Nick Canpf (7).. 2 4 Postal Tel&Cable pf. W. Usher Parsons and 4 Commercial Credit. . % 1 5 Pressed Steel Car... George W. White. Comc'l Credit (A)... 3 + Int Paper & Pwr (A). -8 % 8 Pressed Steel Car pf. ‘The directors voted a dividend of $1 Comel Cred pt B (2). 20 20 2 Int Paper & Pwr pf. : 19% Proctor & Gam(1%). share which is payable May 31. 4 Comcl Inv Trust (2). 4 £ Int Printing Ink..... o5 % 97 Proc & Gamb pt (5).. mflm stock is still very widely held 9 Comcl Solv (60C)..es 6% Int Printg Ink pf (6); % % Producers & Refin in Washington. It is quoted on the 1% Comwlth & Southn.., 499 2 1% Int RysCent Am.... Y 5 8 Prod & Refiners pf. ‘Washington Exchange at 44 bid and 59 §0 .21 Comwith &Soupf(6) ,12 34 29% & 22% - 13% Int Salt (1%4) e 16 21 ?\( PubSve NJ (2.80)... 101 47% asked, o a—a. . $8 . T% Congol-Nairn (§0c)se 64 1 41, 84% Int Shoe (2) +sx £ 101% Public Sye NI pt (6), .1 #5% Leather. % T IRESh, Leather (A). Pipe&Fdy (5 P&F 1st pf1.20.. Realty & Imp. 8 S S : . Rabaer vt 3. . .|| First Mortgages s FEFFF Smtg & Ref (1).. g:::.;fik.l pr3% 9 % FOR SALE Steel pf (2). l++ +++++ FEEE gadaacadgada o 4 S Tobacco (4.40) 5 S Tobacco pf (7 % 2 United Stotes (A, 2’ ; 6 % llltel'flt 4 Ly 4 Univ Pj & Rad Y . JAMES F. SHEA 643 Indiana Ave. N.W, £+ bi+illlLle 7% Vanadium Corp... 1% Van Raalts ‘Van Raalte p % Va-Car Chemical. 3% Va-Car Chem 6% pf. ENTERPRISE SERIAL 35% Va-Car Chem 7% pf. 12% Vulcan Detinning... § L BUILDING ASSOCIATION 1% Wabash % Wabash pf (. 7th St. and Indiana Ave. N.W. e 70th Series of stock now e : open for subscription 117 Warn Bres Bictures. , Payments on shares $1.00 % Warner Quinlan..... each, payable monthly jes E. Connelly James F. Shea President cretary Member of Building Association Counell of District of Columbia. LESFESR ¥ ¥EF @ - | RFESEFREERERS *‘*i;##*i#i* ¥ SRERELREFER Sl A el L Ll L Sl L L 40 Wesson O&Sn pf (4). 30 WestPaElecA (7)., 92 West Pa Pwrpf (7). NAT'ONAL PERMANENT 214 Western Dairy pf A.. 7% Western Dairy pf B.. —has served Washing- ton years in accumulate and to purchase their homes and re-finance their propel Ask about our advantageous plan. Member Building and Loan Ass'n Council of D. C. L4+ 1+ 4+ + i+ttt bbdddst + 444+ ++ [ phosed. 6 Chile Copper . 208 7% Chrysler Corp'n..... 513 5 S 11% Westing’se Air B(1). 19% Westinghouse Elec. . 60% Westinghse 1st (3%) 3% Weston Elec Instru.. § Westvaco Chl (40c).. - - = FEF FFEESFELEELS + ¥ 15 Wilcox Rich A (2%). 9% 6 thington Pump.. 63 F‘|°~4 14 Worth'n Pump pf B.. 26 25 26 é @+ 34% Wrigley (Wm) (3).. 18% 7 Yale & Towne (60¢c).. - PE RMAN E fiT 5% 24 Yellow Truck 29 18 Yellow Truck pf..... 26 BUILDING ASSOCIATION 8% 3% Y Spr & Wire . - 20% 74 Younkstown ShaTa. Sro 4994 ST. Nt 3¢ - B T 1% Zenith Radio. . Uy, "W