Evening Star Newspaper, June 23, 1933, Page 14

—14 *x¥x® SUPPORT IS URGED FOR U. 5. BANK ACT Virginia Bankers Hear Plea From Chief at Annual Convention. | 3 BY EDWARD C. STONE. President Samuel W. Keys of the Virginia Bankers’ Association made a stirring plea for full support of the Glass-Steagall bank act, declared pop- ular demand brough! Tertst scored denunciation ” the measure in the keynote address before Old Domin- ion bankers at Hot Springs yesterday, ‘where the associa- tion is holding its fortieth annual convention. He described the pas- sage of the bill in the closing hours of Congress as “the greatest rev- :‘l‘mw in "‘flnfl% Francis H. Sisson. ince e o the R:!ersl Reserve act and perhaps in the history of bank legislatios “It is the answer,” he said, “to the popular clamor and public demand for a ‘mew deal’ in banking. Eighty per cent of the suggestions and problems, controversial and otherwise, which | have engaged our time and thought | for these last years are definitely dis- | posed of in this measure, thus present- | ing us with conditions to be met rather | than theories to debate.” The provision for insurance of bank deposits he described as the “next log- ical step” following the action of the new afiministration in declaring a bank holiday, which resulted in the Federal Government assuming responsibility for reopening only on a sound basis, thus creating & strong moral obligation to protect deposits in banks thus licensed. Points to Duty. “The hysterical denunciation of the measure by bankers generally,” he added, “has not tended to_increase our prestige with the public. It is now the statute law, and the patriotic duty of every banker is to lend whole-hearted support in its administration. It is not with any great mental effort that we may recall a day last March when we | scarcely would have inquired the price if ‘offered such protection.” Aside from its main purpose of re. | storing confidence on the part of !hel depositor, Mr. Keys said, the measure solves two problems “which have given the banking profession great concern, namely, the preference of security re- quired for deposits of public funds, ho longer practical or necessary under the insurance deposit plan, and the unfair and disastrous competition of the pos- tal savings system with other banks.” “Further,” he said, “it practically assures a unified banking system in the United States, a fact we must rec- ognize whether or not we agree with the principle.” Reviewing the important develop- ments in banking during the past few years with particular reference to Vir- ginia, President Keys said Virginia banking legislation has kept pace with a changing situation during the past few years. “The 1932 session of the legislature enacted a number of stat- utes which seemed peculiarly adapted to | meet the banking emergency which followed, and which have contributed in no small degree to the fine record made during the crisis,” he said. Sisson Attacks Guarantee Plan. Francis H. Sisson, president of the American Bankers’ Association, ad- dressing the same convention, -assailed the guarantee provision of the Glass- Steagall bill as dangerous and un- necessary. “The guaranty of deposits has been undertaken on a Nation-wide scale,” he said, “on the theory that it wil restore confidence in banks and re- duce the number of failures. Experience shows that it will not reduce the number of failures and that any confi- dence it inspires will amount to noth- ing more than a feeling of false security that will run a heavy risk of eventual disillusionment, with disastrous conse- quences. “The only kind of confidence worth having is a confidence that is warranted by the soundness of the banks, and soundness is gained not by deposit guarantees, but by competent manage- ment and supervision. The scheme will be successful only to the extent that genuinely better banking makes it un- n » Regarding the remainder of the ad- ministration’s recovery program, Mr. Sisson said, “Any attempt to pass judg- ment at present would be premature.” Price Recovery Highly Encouraging. “It is beyond a doubt,” he said, “that the vigorous price recovery which has occurred in recent weeks, besides be- ing highly encouraging in itself, has been accompanied by a pronounced ex- pansion in various branches of trade and industry. To what extent this im- provement represents a natural rebound after three years of depression and re- adjustment, and to what extent it re- flects a speculative demand for goods resulting from fear as to the future value of the dollar, must remain a mat- ter of conjecture for some time to| come. | “Whether or not the improvement is | as substantial and as firmly grounded | as we hope, there is no doubt that it | has brought about certain changes in | the immediate situation that are, to| say the least, impressive. If the vast| powers that have been placed at the disposal of the Government are admin- | istered with wisdom and moderation, | and particularly if unsound inflation- | ary methods are avoided, there is| ground for genuine optimism regarding the outlook for economic recovery.” Auditors Elect New Officers. The auditors section of the District Bankers' Association held their annual meeting at Olney Inn last night and| elected A. E. Yeatman of the Columbia National Bank, chairman for_the com- | ing year; R. Earle Haycock, Riggs Na- tional, vice chairman, and James T. Barrett, American Security & Trust Co., | secretary-treasurer. The retiring chair- man, William M. Harris, Lincoln Na- tional Bank, was presented a special | token of regard for his fine work for | the section during the past vear.| Charles H. Doing, second vice presi- dent of the Bankers' Association, was | a guest of honor and made a brief | talk. Miss G. M. Keer, assistant secre- tary of the association, was also a guest. Capital Traction's Net Improves. Net income of the Capital Traction Co. for May showed an increase of $2,789.75 over May, 1932, according to reports filed with the Public Utiities Commission. Operating revenues were much lower than a year ago but ex- penses were cut enough to more than | offset the revenue drop. Revenue pas- | sengers in May numbered 3,103,548, a | decrease of 391,356. For the first five | nonths of 1933 operating revenues to- taled $1,241,024, a decrease of over| $210,000, while operating amounted to $982, Jow the same iod & year ago. After | all the usual deductions, Capital Trac- tion reported a net income for the five months of $16,631.77, a decrease of | $52,088.83 over the like period a year | ago. There has been a falling off in| Tevenue passengers numbering more | than 2,000,000. Trading Light on Exchange. Thirty-one shares of Potomac Electric Power 51, per cent preferred stock sold at 108 on the Washington Stock Ex- | change today. In the bond division | $500 Capital Traction 5s moved at 4514 | and two $1,000 sales in Anacostia & :‘ot:’mu Raflroad 5s were recorded & 17 107 ~Prev. 1933« Stock and High. Low. Dividend Rate. 12% 3 Adams Express...... 49 11 8 Adams Millis 10 18 534 Addressograpl 1% Adv Rumley. 78 Afliliated Prod (8 39 47% Air Reduction (3). 3 15 Airway Elec Appl. 25 N3 114 Alaska Juneau 60c).. 89 20% 7 Alleghany Corp 60 4 5 Allegheny Steel 208 18% 70% Allied Chem & D (6), 6 Allis-Chalmers Mfg.. 53 20 5% Alpha Port Cement 3 5 Amal Leatherpf..... 1 181 Amerada Corp . 28 7% Am Ag Chem (Del).. 9 8 Am Bank Note.. 8¢ Am Bank Note pf (3 1 Am Beet Sugar. . 2% Am Beet Sugar pf. 914 Am Brake Sh&F 60c.x 491 Am Can (4) 614 Am Car & Foundr: 16 Am Car & Found pf.. 1% Am Chain. . 2 34 Am Chicle (3)...... 21 Am Coal of Alleg (1) 13 Am Comc’l Alcohol 1 Am Encaustic Tili 7 Am European Sec 3% Am & Foreign Pw T4 Am & For Pw pf (7). 4% Am & For Pw 2d pf.. 4% Am Haw Stship (1)., 214 Am Hide & Leather. . 131 Am Hide & Leath pf., 29% Am Home Prod (3) 3% Am Ice Co 25 Am Ice Co p: S 4% Am International. 3 408 F 1% Am La Fr & Fom pf.. 5% Am Locomotive 8% Am Mach&Fdy (80c) 1 Am Mach & Metals 3% Am Metal Co. 5 17 Am News (1%) 4 Am Power cht. 9 AmP&L$5 pf (1%). 9% Am P&L $6 pf (1%2). 4% Am Radiator 5% Am Rolling Mills. ... 20% Am Safety Razor (3) % Am Seating. % Am Ship & Com - 114 Am Shipbuilding (2). 10% Am Sm & Ref. 4215 Am Snuff (13%). 37% Am Steel Fdy 30 Am Stores (12 21% Am Sugar (2) 6 Am Sumatra Tob 8614 Am Tel & Tel (9) 49 Am Tobacco (3). 50% Am Tobacco (B) (5). ‘Am Tobacco pf (6 19% 4% Am Type Founders. 3415 10 Am Type Fdrs pf. 41 10% Am Wat Works (1 3 9% Am Wat WKks ctfs(1) 13% 315 Am Woolen. . 5215 22% A 9% 20 Am Zine & Lead pf. 5 Anaconda Copper 814 Anchor Cap (60c). 9% Archer-Daniels (1) 41 Armour of Del pf (7) 144 Armour of Tl (A)... 3% Armour of 111 (B). 7 Armour of Il pf. 1% Arnold Constable 2 Artloom Corp. . 315 Art Metal Construct. 100s 3, Associated Appa 315 Asso Dry Goods 34% Atchison. B0 Atchison p 161 Atlantic Coast Line .. 12% Atlantic Refining (1) 9 Atlas Powder 114 Atlas Tack. 31% Auburn Auto (2). % Austin Nichols. . 13 Austin hols A (1) rp (Del Baldwin Locomot Baldwin Locomot pf. Baltimore & Ohio. ... Baltimore & Ohio pf. Barker Bros Barnsdall Corp. Bayuk Cigars Beatrice Creamer: Beech-Nut Pkg (3) Belding-Hemingway. + Bendix Aviation. Best & Co. Bothlehem Blumenthal pf. 4 Bohn Aluminum (1). Borden Co (1.60). Borg Warner. . Briges Mfg Co. Bklyn Manhat Tran. Bklyn Man Tr pf (6). 4 BKlyn & Queens Bklyn Union Gas (5) Brown Shoe (3) Brunswick-Balke Bruns Term & Rw Bucyrus-Erie 3) Mfgpf.. Budd Wheel. Bullard Co. Bulova Watch. 4 Burr Add Mach (40c) Bush Terminal. .. .. 2 Bush Term deb stk 1, Butte Copper & Zin 28% 81 Bvers (AM). % Callahan Zinc & Ld. . Calumet & Hecla mpbell-Wyant Fy. 7% Canada Dry G A (1). 714 Canadian Pacifi nnon Mills (1) pital Admin (A) 10% 6 8474 (82 3 19% 18% 93 115% 1125 181 85% §79% 3 76 24 actor. 221 40% 4% 13 Celotex Co 10% 1% Celotex pf 30% 14 Cent Aguirre (133).. 9% 2 itury Rib Mills. 27% rro de Pasco. . 6'% n-teed Prod. 417 24% Ches & Ohio (2 40 147 Chesapea 3% 51 13% 2% Chi Great W 6% 1 ChiMiStP 1% 1% ChiMi 10% 1% Chi& 6% 2 Chi& 10% 2y Chi Pneumatic Tool. 9y 2 Chi Rock1& Pac.... 115 2% ChiR1& 134% 3% ChiRI& 24% 5 Chick Cot Oil (h50¢). &% 2 Childs Company. . 19 estn & T4 City Jce & F 69 46 City Ice&Fue 24 % City 1% City 4 1% City 4% 5 Clar 29% 10 9 & 3 Collin 315 Colo & Aikman. uel & Iron “uel & Iron pf.. G&E(bROC) .. 1 Credit (A) Comel Inv Trust (2). 13 Invcvpfie). i 23% Comel Solv (60c). ... 454 6% 1% Comwlth & Southn.. 260 60% 21 Comwith & Sou pf(6) 4 18% 7% Congol-Nairn (60c).. 22 17 19% 31 Consol Cigar. . 2 16% 31 Consol Cgrprpf6%. 305 59 62 38% Con Cerprpfxw 6% 508 554 14% 5% Consol Film 124 64% 40 Consol GasNY(3.40) 142 b9 99 83 Consol GasNY pf(5) 1 93% 5% 2% Consol Laundries 2 3% 5 Consol Oil Corp. .... 10% 1% Cons RR of Cuba pf. 20 1% Consol Textile...... 4% % Container Col 171 21 ontl Baking 62'; 36 Contl Baking 641 35% Contl Can (2). 10% 3% Cbntl Diamond Fibre 29% 10% Contl Insur (1.20) 16 4% Contl Oil (Del). 78% 45% Corn Products (3)..s ~uT% 2% Coty INCicesecoenass 11 196 15% 50 76 6% 76 931y 207k 4% 11% 56% 934 3% 14% T3% 6% THE EVE TRANSACTIONS ON THE NEW YORK Sal Net Add 00. High. Low. Close. Chge. 10% + % % % o FREAFSESES L4+ 1) | ++++++ T N R [ [ e e G STAR, WASHINGTON, D. C., Received by Private Wire Direet to The Star Office. 1033~ Stock and High. Low. Dividend Rate. 37% 23 Creamof Whtt2%.. x 13 21 Crosley Radio. .. 1 14% Crown Cork & Seal Crown C&S pf (2 4 Crown Zellerbach. Crucible Steel Crucible Steel pf. Cuba Co. .. Cuba R R pf Cuban-Am S: Cudahy Packing 2 Curtis Publishing. Curtis Publi Curti Curti Deere & Co pf (2 Delaware & Hud Del Lack & Westn. Denver & RG W pf.. Dome Mines (1.5 Dominion Stores Doug Aircraft (75¢). Dresser Mfg (B). Drug Inc (3). Dunhilf Interna Dupont de Nem ( c Auto Lite....... 87 c Auto Lite pf(7). x108 Electric Boat.... 38 Elec & Musical Instr, 15 314 Elec Pwr & Lt. .. 615 Elec Pwr&Lt $6 pf. c Pwr&Lt §7 pf. lec Storage Bat (2) 1k Horn Coal. Horn Co: licott Joh nzinecrs Pub Sve. . quitable Of Bld (1). A Va Cleaner. . shion Park Asso. .- 3 Fashion Park As pf.. Federal Lt&Traction Federal Mot Truck. Federal Screw Wks Fed Water Service A, Fidelity-Phoen 1.20., Firestone T&R(40c). First Nat Strs (2%) . Foster-Wheeler Foundation Co 4 Fourth Nat In Fox Film (A) Freeport-Te Gen Am Investors. Gen Am Trans (1). Gen Asphalt. . Gen Baking (2) Gen Bronze. . jen Gable. . n Cable ectric (40c). en Elec spec (60c). en Foods (1.60) . Gen Gas & Elec (A) . Gen Gas&E18% pf A Gen Mills (3).. Gen Mills pf (6). Gen Motors (1). 5 Gen Motors pf (5). Gen Printing Ink. Gen Public S ien Realty & Util pf. 2 Gen Refractories. Gen Refract vic Gillette Saf Raz (1). Gimbel Bros. Gimbel Bros pf. Glidden Co. 5 Glidden Co pr pf (7). Gobel (Adolf) Gold Dust (1.20). Goodrich (B F) Goodrich (BF) pf. Goodyear Tire&Rub. Goodyr T&R 1st (2). Gotham Silk Hose. Graham-Paige. Granby Consol. Grand Union ctfs Grand Union pf (3) Grant (W T) (1). Great Northern pf. Great Northern Ore... Great West Sugar. .. Great Wn Sug pf(7). 508 Grigsby Grunow.... 33 Guantanamo Sugar 1 KW (1%5) Hack Wat pf A 1%. Hahn Dept Stores Hahn Dept Stores pf. Hall W F Printing. Harbison & Walker Hartman Corp (A).. Hartman Corp (B). Hat Corp (A).. % Hayes Body... Hercules Powder 1 % Hershey Choc (3) 5 Holland Furnace. Hollander Sons. ... Homestake M (110). Houdaille-Hersh (A) Houdaille-Hersh (B) Househd Fin pf 4.20. Houston Oil. . Houston Oil (new) Howe Sound (40c). .. : Hudson Manhattan Hudson Man pf Hudson Motor Car. .. Hupp_Motors Tilinois Central Indian Motor Cycle % Ind Motor Cycle pf.. 10s Industrial Rayon (3) 142 Ingersoll-Rand (1%) 40 Inland Steel. . 7 ation Copper 13 Insuranshrs Del 1ic. Interboro Rap Tran.. Interlake Iron. 5 Int Agriculture Int Bu Int Carrie: Int Cement Int Hary Int Hydro Int Merchant Marine Int Nickel ofCan. ... Int Paper pf...... ; Int Paper & Pwr (A). Int Paper & Pwr (B) Int Tel & Te Interstate Dept § Intertype Corp. Jewel Tea Co 54% . 81% ugh pf(1) 21 6% JKans City Southern. <an City Sou pf (2). <aufman Dept § ser (J) & Co. 30s s &h Val Coal pf.. Lehigh Valley R R.. Lehman Corp (2 Lehn & Fink (2). Libbey Owens Gl Lige & Myers (15) Ligg & Myers B (15). Lily Tulip Cup (1%). Lima Locomotive. ... Link Belt (40c) % Liquid Carboni Loew's Inc (1). Loft Inc..... Long Be 19% 13% 10% Lorillard (P) ( 87% Lorillard (P) pf (7). % Louisiana Ofl....... 13% Louis G & E1A (1%) 21% Louisville s 4 Ludlum Steel 554 14% Ludlum Steel pf. 25 9% McAnd & Forb (1.60) 86% 174 McAnd Forbes pf (6) 108 27% 13 McCallCorp (2)eeses 4 Net. . Low. Close. Chge. 5! 34 3514 10% [10% ~1 51 +2% 354 + W 5+ % 22% 434 2% 113 + 1 228 +10 1% — % 6+ % 4915~ 324 2% 6 -+ % 20 + % 14% —13% 40 1% 64 29% 11z 18 4% 681 43y 66% +24 39% % 3% Bl 9ty 3y 133% 6% 33 391 9% 40 +1% + % +2% -1 +3% + % 3 —-1% o 22% + % 2 1041 — 1g 2% — % 21% + % 53 16 5415 +1% 22% — % 85 &6 'S ~Prev. 1933~ Low. Stock and Dividend Rate. S McKesson & Robbins 14 McLellan Stores. 9 llan Stores pf.. 50s Trucks (1) 86 'y (RH) & Co (2 son Sq Garden. . Mallison & Co Manati rpf Manhat Elev mod hirt. ... ibo Oil Exp. Marine Midl'd (40c) . Mathieson Alk (1 Mathieson Alk pf aytag Co. avtag pf ww E Melville Shoe (1.20). Mengel Co. . Mengel Co pf Minn Moline Pow Minne & St Loui Mo Kan & Texas Mo Kan & Texas pf Missouri Pacific. Missouri Pacific pf & Mother Lode Motor Met Motor Produ & Motor Wheel. Mullins ) Mullins M Munsingwear Ine Neisner Broth Newport Industri 30 61608 11% . 14908 22 146 3 2 5) TRY H & Hartford. Y N H & Hart pf.. Y Ont & Western shipbldg (40¢) 15 Norfolk § Norfol North Am (b8 % stk) . North Amer pf (3)... North Am Ed pf (6). Northern Pacific. ... Norwalk Tire & Rub. Ohio Oi . Oliver Farm Equip 4 Oliver F Eq pr pf A Omnibus Corp. . Oppenheim Collin Otis Elevator (60c). « 4 Otis Otis Steel pr pf.. Outlet Co (2) 4 Owens 111 ¢ Pacific Coa Pacific Gas & El ( Pacific Lighting ( Pacific Mills - Pacific Tel & 4 Packard Motor Car. . Panhandle Pro&Ref . Par-Publix c Park & Tilford. Park Utah. .. Parmelee Tra Pathe Exchange.... Pathe Exchange (A) Patino Mine: Peerless Motor Car.. 4 Penney (J C) (1.20). Penn Coal & Coke. .. Penn Dixie Cement Penn Dixie Cmt pf. Penna R R (50c). Peop Drug Peoples ( Pere ) Pere Marquette pr p 4 Petrol Corp of Am. Phelps Dodge Phila Co 6% pf (3). Phila & Read C&1.. Philip Morris&Co (1) Phillips-Jones C: Tierce O Pierce Oil pf . e Petroleum -y Flour (1) Screw & Bolt. . Terminal Coal United Corp United pf. Pittston Co. Plymouth Oil. Poor & Co ¢B)s...... Port Ric Am Tob(A). Postal Tel&Cable pf. ed Steel Car. ... ed Steel Car pf. Proctor & C Proc & Gamb pf Producers & Refin Pullman Corp (3) Pure Oil. . Pure OfI pf......... 5% Purit eries (1) Tadio Corp. Radio Corp p 2 Radio Corp 4 Reis (Robert) & C 8 Reis (R) & Co 1st pf. 22005 Remington-Rand.... 40 Rem Rand 2d pf Reo Motor Republic Republic J ceee Revere Cop & Br pf.. Reynolds Metals(1). Reynolds Spring. ... Reynolds Tob B (3). Richfield Oil 2 Rossia Ins of Amer Royal Dutch (80%c). Rutland R R pf. . Safeway Stores (3).. 5713 28 53% FRIDAY, JUNE 23, 1933. STOCK EXCHANGE | |STOCK PRICES UP- i e ropP FEFFE * FE E 8 + 5 29% + % 13 +1 531 +2% FINANC Today's Bales Add 00. High. Low. Close. Chee. 60s 101% 100 100 30 224 21 22 .1933.~ Stock and Low. Dividend Rate. 80% Safeway Strs pf (7) 6 St Joseph Lead. s St L-San Francisco. 1 StL-San Franpf 5% St. Louis Southwn Savage Arms. ... Schulte Retail Stores Scott Paper (1.40) aboard Air Line aboard Air Line pt aboard 01l Del 60c. Seagrave Corp Sears Roebuck Seneca Copper Servel Inc. . - Sharon Steel Hoop. Sharp & Dohme. ..., Sharp & Dohme pf(2 Shattuck (FG) (24¢). Shell Trosp't (53¢) . Shell Union O11. Shell Union Oil pt Simmons Co mms Petro! o4 1+ Iv Am pf ww (512). Port Ric Sup 1.60. 5 South Cal Edison(2). Spang Chalf pf. Sparks-Withington Spear & Co...... Spencer Kellogg (60c. Sperry Corp = Spiegel-May Stern. Standard Brands (1). Stand Com Tobacco 4 Stand Gas & Elec Stand Gas & Elec pf. Stand Gas& El pf (1) Stand Invest Corp. Stand Oil of Cal(1). . Stand Oil Exp pf (3). and OII N J (1). Starrett (L S) . % Sterling Secur (A)... Sterling Secur pf. 4 Stewart Warner. Stone & Webster..... Studebaker Corp. Studebaker Corp p! Sun O11 pB(8) Superior Ol Superior Steel Sweets Co of Am. Symington. .. Symington (A). 814 Telautograph (1) 1% Tennessee Corp 10% Texas Corp (1).. 15% Tex Gulf Sulphur(1) Tex Pacific Coal&Oil. Tex Pacific Land Tr. Thatcher Mfg Co. Thatcher Mfg pf The Fair. . Thermoid Ci Third Avenue o Thompson (J R) (1).x Thompson Products.. Thompson Starrett 4 Tide Water Asso Oil. Tide Water Asso pf.. Tide Wat Oil pf (5). . Timken-Detroit Axle 4« Timken Bearing 60c. Transamerica Corp. . Transue & Williams. 4 Tri-Contl Corp Trico Products(23). Truax Traer Coal.... Truscon Steel Ulen & Co. Union Bag & Paper Union Carb & C (1) 4 Un Ol of Calif (1)... Union Pacific (6). ... Union Pacific pf (4). Union Tank Car 1.20. Unit Alreraft. United Biscuit (1. United Carbon (1). Unit Corp (40c) Unit Corp pf (3). Unit Dyewood....... Unit Dyewood pf(7). Unit Electric Coal. .. Unit Fruit (2) .x 22 Unit Gas&Im (1. Unit Plece Dye Wks.. U S Express.... % U S & Forn Secur U'S & Forn Sec pf. USFreight. ... U SGypsum (1)... U S Gypsum pt (7). U S Hoffman. .. U S Ind Alcohol U S Deather. US Leather (A)..... U S Pipe&Fdy (50c). U S P(F 1st pf 1.20. U S Realty & Imp U S Rubber.... U S Rubber 1st pf. U S Smtg & Ret (1) 4 US Steel... U S Steel pf (2) U S Tobacco (4. United Stores (A) Univ Leaf Tob pf(8). Unlv Pictures 1st pf. Unlv Pipe & Rad..... 1% Util Pwr & Lt (A). 38 2% % Vadsco Sales Corp. 8 2% 7% Vanadium Corp 6% 1% Van Raalte. .. 3% % Va-Car Chemical. 67%_12% Vulcan Detinning. 4% 1% WabashRR... 6 1 Wabash pf (A). 10 5% Waldorf System. % Walworth Co...... % Ward Baking (B) 11% Ward Baking pf (1). 1 Warn Bros Pictures Warner Quinlan 21 Warren Bros. ‘Warren Bros cv pf. Warren Found & ‘Webster Eisenlohr. . Wells Fargo 25 Wesson O & Sn (50c) West Pa Elec A (7).. West Pa Elec pf (6). West Pa Elec pt (7). West Pa Pwr pf (6).. Western Dairy pf B.. Western Maryland. . Western Md 2d pf. Western Union. ..., Westing'se Air B(1). Westinghouse Elec. . Westinghse 1st (3%) Weston Elec Instru. . ‘Westvaco Chl (40c) Wheeling Steel...... White Rock M 8 (2).. 4 White Sewing Mach. 2 Wilcox Ol & Gas. ... 15 Wilcox Rich A (2%). % Wilson & Co. 4 Wilson & Co 19 Wilson & Co pf 25% Woolworth (2.40).., 8 Worthington Pump. 341 Wrigley (Wm) (3).. 2% Yellow Truck. . 3% Young Spr & Wi 7% Youngstown Sh & 3% Zonite Product: Rights. 3 2 AmComAl..July 6§ 65 % % Motor Meter..July 10 57 % Sales of Stocks on New York Exc! 11:00 AM... 870,000 o 11+ ++t++ 1 tele 1f FES i % SESF # SeFrseFes rey e R LI4d & 4dbd + 2bdldbid *F Psy x58 wxes ® 1 20s 15 ++ 1 4|+ 0 Pesd 2™ = l+++++1+11 o ¥ OEFFEFEFEE 2 & - Soemtor 17% 32% % Bn8 LBlaE8. - Dividend rates as given in the above table are the annual cash payments based cn the latest quarterly or half-vearly declarations. s Unit of trading less than 100 thares. tPartly extra. 3Plus 4% in stock. @ Pald last year—no regular rate. b Payable in stock. e Payable in cash or stock. d Plus 8% in stock. f Plus $1 in special preferred stock. g Payable in scrip. h Paid this year. Markets at a Glance By the Associated Press. NEW YORK, June 23.—Stocks firm; late rally strengthens list. Bonds irregu- lar; United States Governments ease. Curb frregular; some speclalties ad- vance, Foreign exchanges irregular; dollar steadies. Cotton higher; firm stock and wheat markets; general buy- ing. Sugar quiet; steady spot market. Coffee lower; trade selling. CHICAGO, June 23 () —Wheat buoyant; big crop damage. Corn higher; sympathy with wheat. Cattle generally steady; best steers, $6.50. Hogs steady; op, $4.80, farmers to with favorable Danville tobacco DANVILLE TOBACCO LEADER IS HOPEFUL Board of Trade President Expects Bumper Receipts and Better Quality Than in 1932, By the Associated Press. DANVILLE, Va, prospects for the 1933-34 tobacco seasorn on the Danville market are seen by John S. Meade, president of the Dan- ville Tobacco Board of Trade. “With ample facilities to serve the e best advantage, togeher crop market bright for next season,” he said. “Al- gradually rising the outlook is distinctly favorable. “Danville’s % 50,000,000 pounds next season. ’t indications June 23.—Bright e U. 8. TREASURY BALANCE. By the Associated Press. IAL IN FINAL TRADING Gains of 1 to 3 Points Mark Only Positive Trend of Dull Session. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, June 23 —The most a¢- tive period in today’s stock market was in the iast hour, which produced the only positive trend of the day, as prices advanced quite sharply. Gains of 1 to over 3 points were registered in issues that had been heavy a few hours earlier, bringing the aver- age to a net gain at the closing. late demonstration of the vitality of the market and the reserve buying power under it justified the expecta- tions of those who had regarded Thurs- day’s decline as temporary and an 0¢- casion for the accumulation of stocks. The upturn in the market was not gmmoud by any change in the fot- ign situation, as the exchanges were all comparatively quiet and ster] was mainly quoted curing the day under the high level of Thursday. The rise appeared to be due to the manner in which the market had resisted the efforts to depress it. It was accom- { panied by another advance in wheat, which sold in Chicago at new high | prices. Has Broad Scope. | The rally was not confined to any | one group of stocks, but included most | of the active issues. Chrysler advanced 3 points to a new high price on heavy transactions. Southern Pacific was | also freely taken at an advance of 1% points to a new high and Chesapeake & Ohio duplicated its former maximum price of the year. Bethlehem 8 sold within a fraction of its | American Telephone, Johns- du Pont, American Can and Allied Chemical were up between 2 and $ points. Some Shares Rebought. Some rebuying of stocks sold yester~ day was responsible for a recovery at the opening today that amounted to from 13 to 115 roinu in active shares. The strongest features were the oils, tobaccos, the iron and steel group and |a limited number of the rails. The familiar indications of an expanding volume of business were emphasized in all of the day’s market literature. This, for a time, offset the effect of the latest developments at the London confer- ence. The early improvement did not hold, though only a few prominent stocks in the subsequent reaction went below the buying stocks, with Chrysler a feature of this group, and rails held well. is & sequel of the new law which forbids banks to pay interest on such deposits. The one effect of this will be to drive a considerable amount of these to the mutual savings banks, w] paying 4 (Copyright, 1933.) SILVER QUOTATIONS. NEW YORK, June 23 (#).—Bar silver easy, % lower at 347%. NEW YORK BANK STOCKS. NEW YORK, June 23 (#).—Over-the- counter market: (Quotations as of 2 o’clock.) BANKS. Q) .uii v Fil Pirst Nat'l ex. National City ( Public (1.50) . Bankers' (3) . Brooklyn_Trust, Hanovér D). Empire, ex. Guaranty (21 Irving (1) .. Manufacturers’ . N Y Title & Morty: [ Y. Tr.. ex.div. (5. tle G & United St Includ First Mortgages on New Homes : 6% v sar 1505 H St. NW. NA. 2345 7th St. & Indiana Ave. N.W. LOANS On Improved District of Columbia Real Estate Security 70th series of stock now open for subscription. Come To The NATIONAL PERMANENT :hmiy&x -;elnneeflo(--h e} y for your savings... orplc':ll financial aid in <t , PERMANENT Treasury receipts for June 21 were $106,342,381.41; expenditures, $114,257,- 882.08; hl.ln;a, g}.m.’l’l;fl.'fl. Cus- toms dutles for 31 days of June were $15,656,019.52, conditions, the Pprospects are BUILDING ASSOCIATION 949-974 ST. N H *4,,: <o Eavision 3