Evening Star Newspaper, March 2, 1935, Page 12

wwwflflb Aclz wxe FINancian, THE BN S, e D e e, e e BANKERSTOHEAR [TR ANS A CTIONS ON THE NEW YORK STOCK EXCHANG E/SIIGKS IREGILR SHVINGS EXERTS . ; AT WEEK'S LOSE 5"fi 43% U S Gypsum (1).... 36% U 8 Ind Aleohol (2). e 28% 6 U S & For'n Secur.., 8 Addressograph. ll% 11 Gen El spec 606 n HZ ll HZ ll A-az 20% 82% Gen Foods (1.80)... + 2= en .un mafl. High. Low. Dividend Raf Add 00. High. Low. Close. Chge. Low Dividend Rate. wofl-m 'fl' m. a- "“"“ B Close. Chgs. e m"' moo . 1125 110 Sateway Stra pe (). 408 1124 112% 1+ % 2 United Pce D W.... e Ad_fi:‘g“‘gg"‘: 40000 Meh. Loy, Choge. 3 %% Bw 2% 315 13% 308 20 200 20 ssu Well-Known Speakers List- ed for A. B. A. Sessions 17% 18 7 1 27 23% 28% 23% + % nited Fce L2 29% Adams Millis (2). 25% 20% Gen Electri 3 United Pce D W pt. in New Yor k. BY EDWARD C. STONE. Bankers from all over the East, ineluding the Distrizt of Columbia, Maryland and the Virginias, will gather in New York next Thursday and Friday for the annual Eastern Regional Savings Conference, spon- sored by the American Bankers Asso- clation. Bank investments, real estate mortgages and public utility secur- ities will be features on the program. Among the speakers will be Inter- state Commerce Commissioner Walter M. W. Splawn, Henry F. Long, Massa- chusetts commissioner of corporations; Philip A. Benson, president Dime Sav- ings Bank, Brooklyn; William W. Mil- ler, president New Jersey Savings Bank A.ssoclatmn Henry R. Kinsey, pres- ident Savings Bank Association of New York, and Noah Lucas, president Connecticut Savings Bank Association. Other speakers will include Robert 1. Hoguet, New York banker; James K. Steuart, Savings Bank of Balti- more, and Roderick Olzendam, social insurance research director of the Metropolitan Life. T. J. Caldwell, president of the Savings Division of the A. B. A, who was elected to the office at the convention here last Fall, will preside at most of the sessions, and will speak on “Management of Real Estate Acquired Through Fore- elosure by Banks” David Friday, Washington economist, is also on the program, as are several others from Philadelphia, New York and Massa- chusetts. The mutual mortgage insurance plan of the Federal Housing Administration provides the financial institutions of the country with an opportunity to improve the condition of their mort- gage assets, in the opinion of Federal Housing Administrator James A. Mof- tett. “Many financial institutions are gorged with mortgages which are past due or otherwise in effect frozen,” Mr. Moffett says. “They should get to- gether at once with their borrowers and rewrite the mortgages, where pos- sible, in a form eligible for insurance. Thus the present demoralization in the residential mortgage market can be cured, or at least greatly amelior- ated. Then new construction can start, on a scale large enough to meet the growing need for new housing. “Many financial institutions also are stuffed with money to lend. Let them embark on the insured mortgage program with perfect confidence, both as to the safety of their loans and as to the liquidity, in case of need of their mortgages.” The insured mortgage plan is the central feature of the long-range pro- gram of the Federal Housing Adminis- tration. It should not be confused with the modernization credit plan, in which more than 12,000 financial institutions already are co-operaitng. Roper Would Protect Bonds. ‘The Government’s action on the future of holding companies must in- clude protection of investments in bonds. Secretary of Commerce Roper declared in talking to the New York Bond Club. “In working out the future of hold- ing companies,” he said, “we must make every effort not to disturb bona fide investments in bonds represent- ing actual cash outlay. To put it an- other way, while we are banishing methods that have proved to be in- equitable, we must avoid creating other injustices equally undesirable Zfor the future.” In discussing the proposed holding company legislation before a House committee, Robert E. Healy, member of the Securities and Exchange Com- mission, said that it might be possible, through regulation, largely to elimi- nate evil features of holding com- panies without completely destroying the companies, as proposed in the Rayburn bill. He led the committee to believe, however, that he favors prohibiting holding companies by law. ‘The holding company situation re- mains one of the most important topics of conversation in brokerage houses here. Holders of some of the common stocks say they would like to hear something about protection for them, as well as for the bond- holders. Spangler & Berry, who recently opened advertising agency offices in the International Building, announce the affiliation of James J. McNally with the concern. He has been in advertising agency work locally since 1930, and for four years previous to that time wrote advertising for the Potomac Electric Power and Washing- ton Railway & Electric Cos. Ralph Spangler, one of the partners, was connected with various Southern newspapers for 15 years. Howard Berry, another partner, was advertis- ing director for Lansburgh and Bro. for four years and was also president of the Washington Advertising Club for two terms. ‘The new associate, Mr. McNally, also has been active in the same club, serving a three-year term on the Board of Directors. Capital Transit Net Lower. Net income of the Capital Transit Co. in January totaled $35323.95 in comparison with $106,924.26 in Jan- uary, 1934, according to the financial statement filed with the Public Utili- ties Commission today. Very much higher operating expenses were the chief reason for the marked differ- ence in net results. Traffic was better than a year ago, the company’s street cars and busses earrying a total of 16,609,170 pas- sengers in January this year, against 13,587,136 in January, 1934, an in- érease of 3,027,034. Riggs Named in Thom Will. ! The will of the late Alfred P. Thom, prominent Washington resi- dent, has just been filed, although not yet offered for probate. The docu- ment names his widow, his son, Alfred P. Thom, jr., and the Riggs National Bank as executors. The Riggs Na- tional is also appointed trustee. John W. Hanes, a member of C. D. Barney & Co., has been appointed to fill a vacancy on the Committee on Quotations and Commissions of the New York Stock Exchange. Mr. Hanes, who acquired his membership January 17, was recently elec to the Governing Committee of the exchange. The Federal Reserve Bank of Rich- mond has sent member banks notices of the offering of $100,000,000 Treas- ury bills, to be dated March 6, 1935, $50,000,000 maturing September 4 and $50,000,000 on December 4, both 1935. The annual meeting of stockholders of Adolf Gobel, Inc., has been post- poned until March 21. V. D. Skip- worth, president, declared in New York that plans for meeting the payment of $2,250,000 6% per cent gold notes due May 1 were still under consideration. He said that the plans now being considered provide for the sale of an unnamed subsidiary. A regular cash distribution of 10 115'/4 5% 40% 112 181, 43 7015 106% 84% 86% 137 14% 91 451 45 12% 40 1062 6% 70% 55% 8612 374 25% 29% 14 5% 6% 26% 15 1021 110 445, 110 19 —_— 447 4 3 4% 5% 293, 4213 214 113 -- 1 .9!. 57 18% 158 5 ™% 59% 43% 7% 4% 5 6% Affiliated Prod (60c) 109% Air Reduction (3).. 1% Air-Way Elec Apvl. 1% Alleg Corp (k). . 314 Alleg pf w$30w (! 132% Allied Chem (6).. 15% Allis-Chalmers. 16% Alpha Port Cmt (1). 4815 Amerada Corp (2).. 47%: Am Ag Chem Del(2) 13% Am Bank Note. 110 Am Can (t5) 8 Am Chain... 66 Am Chicle (13% ) .. 612 Am Crystal Sugar. . 57% Am Crystal Sug pf. 270: 2 " Am Ensaustic. 2% Am & Forelgn Pwr. 17 Am & For Pw pf (7) 30% Am Home Prod 2. 10 31 Am Ice Co. 5% Am International. 1173 Am Locomotive. 3713 Am Locomotive pf 20 Am Mch & Fy (80¢). 5 Am Mach & Metals 14 Am Metals. . 72 Am Metals pf. 2 Am Power & Light, 10 Am P&L $5 pf (1%) 12 Am P&L $6 pf (l’;;) 12% Am Radiator. 18% Am Rolling Milis. 67 Am Saf Raz (15%). 32% Am Smelt & Ref. . 103 Am S&R 6% pf (lfl)- 14'; Am Steel Foundry. . 37% Am Stores (1213). 60 Am Sug (2)...... 102% Am TFel & Tel (9). 77% Am Tobacco (5) 78% Am Tobacco B (5) 129% Am Tobacco pf (6).. 10 Am Water Wks (1). 5% Am Woolen. 9' Anaconda Conper. . 36 Archer-Dan M t1%. 997 Armour Del pf (7).. 4% Armour of Illinois. . 6416 Armour Ill pr pf (6) 3914 Atch To&S F (h2).. 7513 Atch To&S F pf (5). 24~ Atlantic Coast Line. 23 Atlantic Ref (1) 21% Auburn Auto. . 81 Austin Nichols. 31 Aviation Corp Del 113 Baldwin Loco.... 9 Baldwin Loco pf. 95, Baltimore & Ohio. 100% Bamberger pf (632) 108 Bang & Aroos pf(7) 6 Barnsdall Corp. 40 Bayuk Cigar (b4 107% Bayuk Cig 1st p£( 16 Beatrice Creamery 14 Bendix Aviation. . 15% Beneficial Loan 1%. 26 Bethlehem Steel. ... 641; Bethlehem Stl pf. 18 Bigelow-San Corp 10% Blaw-Knox. .. 7% Boeing Airplane 53 Bohn Alum&Br (3) . 90 Bon Ami (A)(15). 23'¢ Borden Co (1.60)... 28, Borg Warner (t1%) 3, Botany Mines A (k) 243 Briggs Mfg (2).... 231 Briggs & Strat (3).. 367 Bklyn-Man T(h13%) 2 Bklyn & Queens 20 BkIn&Queens pf(2 47 Bklyn Union Gas(5) 5 BucyrusErie...... 10 Bucyrus Erle cv pf.. 3% Budd (E G) Mfg.. 26 Budd (EG) Mfg Vf. 3 Budd Whe 11 Bullard Co 415 Burns Bros pf. .. 141 Burr Add M (60C) . e 14; Byers (AM).. 364 California Pkg(133) 15 Callahan Zinc...... 3 Calumet & Hecla. .. 9% Canada Dry G A (1) 11% Canadian Pacific. ... 33% Cannon Mills (2). 51% Case (J I) Co. 3614 Caterpillar Trac(1). 28% Celanese Corp. ..... 15% Celotex Co pf (K)... s 22% Cent Aguire (1%) 38% Cerro de Pasco (2).. 415 Certain-teed Prod. .. 40% Ches & Ohio (2.80). 38 Chesap Corp (3) 1% Chi Grt West pf. 2 ChiMilStP&P 2 ChiMilStP&Ppf. 315 Chi & Northwestrn. 26 Chickasha C O (2) 35% Chrysler Corp (1). 20 City Ice & Fuel (2) 7- City Stores (k)..... 15 City Stores ctfs (k) 13 ~ Clark Equip (80c).. 1617 Coca-Cola (17)..... 55! Coca-Cola (A) )(3). 1614 Colgate-P-P (50c). 117 Collins & Aikman. 45 ColG&Ean(G .. 341 Colum Pic vtc (m1). 67 Columb Carbon (4). 3913 Comel Credit (2)... 5212 Comcl Credit(A) (3) 29 Comcl Cred pf (1%) % 109% Comel C 1st pf (6% ) 2 10% 20% 814 20% 4315 4% 29% 3T% 40% 24% 9915 129 8 123% 20% 29 108% 107 Elec Auto Lite pf 1. 140 6% 8% —_— 29% Comcl Cred (B)(2). 56% Comel Inv Tr($2%) 19% Comecl Solv (185¢) 1 Comw & Southn. 29% Comw & Sou pf ( 301 Congoleum-N(1. 80) 23% Conn Ry & Lt (4%) 814 Consol Cigar....... 18% Consol Film pf (j2). 15% Consol GasN Y (1). 72% Consol Gas pf (65).. 734 Consol Oil (h42c! 8 Consol Textile. 10% Container Corp 4 Container Corp (B). % Contl Baking (B). .. 46% Contl Baking pf (4). 623 Contl Can (2.40) ... 7 Contl Dia F (a15c) 30 Contl Insur (11.35). % Contl Motors. 16% Contl O Del (h50c). 62 Corn Prod Ref (3).. 4 COty INC. . ..uuuvee 35’,. Cream of Wht 12%. 1214 Crosley Radio. . 23% Crown C& S (1) 4 Crown-Zellerbacl 184 Crucible Steel. . .. 5% Cuban-Am Sugar... 40% Cuban-Am Sugar pf 23 931 Curtis Pub pf (7)... 23 Curtiss Wright. 7% Curtiss Wright (A). 17% Cutler Hammer. 7% Davega Strs (al0c) . 19 Deere&Co pf (j20c). 29% Delaware & Hudson 1% Den&RG W pf.... 26'% Diamond M (1135).. 34% Diamond M pf (1%) 34% Dome Mines (13%). 20% Douglas Aircraft... 91% Du Pont de N (2.60) 126% Du Pont deb (6).... 5% Eastern Roll Mills.. 110% Eastman Kod (5). 16% Eaton Mfg (1).... 231 Electric Auto Lite 4% Electric Boat...... T3 Elec & Mus Ind.... 1% Elec Pwr & Light. 5 Elec Pwr&Lt $6 pf 6 Elec Pwr&Lt $7 pf. 45 Elec Stor Bat (2%). 14 Elk Horn Coal (k). . 52% Endicott-John (3).. 1% Engineers Pub Sve.. 14% Eng Pub Sve $5 pf.. 8% Erie R R 10% Eureka Vac C1(80c) 19 Evans Auto P (50¢) 5% Fed Lt & Trac, 15% Firestone (40c 917 Firestone pf A 47% First Nat Strs(2% 20% Food Mach 5¢) .. 13 Foster-Wheeler 68% Foster-Wheeler pf. 22% Fourth Nat In h85e. 35% Franklin Simon pf.. 20% Freeport-Texas (1). - ® 0010 T3 00 1 1o et i ek g b NI DD runBrnlonumamanenemEan P 'y ET L N =ror 3 1 2 10 10s 208 1 6 [ 13 S - o D SRR NO - RO B 1NN R 10 e D e O 903 N 03 O = - CO e RO CO et b b 3 PY-forTorerm M§ 2 1015 101 1023 110 93 128% 5% 122% 181 24 109 4% T% 1% 5 6% 46Y% 10% 10213 1023 110 110 +1 % % % kY 3% 5 17815 1% 56% — 18 + % 12% — % 3 -~ 4% — 50 +11 43% — 13 9% +3% 47 57 31 4+ 112 =% nu+ ¥ 5915 21 1 3513 — 8% 30 — % 24 814 19% + % 17% 8 +1 % W % % % % % ’4\ 8 19 + % - 20% + 29% — S 28 36% + 41% + S 928 93 <+ 128% 128% + 5% 5% + 122 122 + 18 18 24 24 108% 109 + 4% 4%+ 8% % 5 ERFEEFFIE FELIEEFEES 13% + % 65 ~5 24% + % 36 21% + % 3% Gen Gas & El (A) 29% Gen Motors (1).... 93% Gen Print Ink pf(6) 16% Gen Refre cctfs.... 13% Gillett Saf Raz (1)« 70% Gillett Saf R pf(5). 2% Gimbel Bros....... 23% Glidden Co (11.30). 31 Gobel (Adolf) 15% Gold Dust (1.20. 9 Goodrich (BF) 20% Goodyear T & R 79'% Goodyear $7 pf 3% Gotham Silk HO!G‘ . 40% Gotham S H pf (7). 2% Graham-Paige. 5% Granby Consol. 3 Grand Union. 17 Grand Union pf 13%. 30 Grant (WT)(f1%). 11% Great Northern pf. . 10 Great Nor Ore (50c) 26% Grt West Sug (2.40) 127‘6 119 Grt West Sug pf(7) 2% 6% 63% % 75 20 7 945 1 Guantanamo Sugar. 4% Hahn Dept Stores. . 55 Hahn Dpt Stores pf. 512 Hall W F Printing. . 63 Hamilton Watch pt. 16% Harb Walker (1)... 514 Hat Corp (A).. 85 Hazel Atlas G 107 104 Hershey Cpf (f: 9% 11 % Holland Furnace. . . 81 Holland & Son (50¢) 391% 338 Homestake M (136) 9 3 52'n 12% 3% 1% 33 55% 3% 3 {4 7% Houdallle-Hersh B. 2% Houston Oil (new)., 43 Howe Sound (3). 8% Hudson Motor Car. 2 Hupp Motors 9% Illinois Central 30% Indus Rayon (1.4 507% Inland Steel (1).... 23; Inspiration Copper. 2 Intercontl Rubber.. 5% Interlake Iron...... 151‘: 149% Int Bus Mach (p6) .. 33 437 41 Int-Carriers Ltd 200 264 Int Cement (1). 3714 Int Harvester (60c) 113 Int Hydro Elec (A). Int Merch Marine 5‘1 Int Paper & Pw pf. 21’ Int Print Ink (1)... 9813 Int Print Ink pf 16). 15 Int Rys Cent Am pf. 21 IntSilver 692 Int Silver pf (4). Tis Int Tel & Tel.. 10 Interstate Dept Strs . 31 Island Creck C (4).. —_— 57 57% 125 6913 28% 2% 12 111 17% 32% 1071 10913 22 367 1% 213 1414 53% Jewel Tea (J ). 4513 Johns-! 120 John: 9 Kans City South pf. 713 KaufmannDeptS40o 114 Kelly-Spring T (k). 314 Kelsey-Hayes (B).. 15% Kelvinator (170¢).. 90% Kendall Co pf (6)... 1514 Kennecott C (60c).. 20's Kresge (SS)(1)... 60 Kress (S H)(f1). 23% Kroger Gr&Bk 1. 1% Lehigh Valley Coal. 8 Lehigh Val Coal pf. 6% Lehigh Valley R R. 15% Lehn & Fink (132) . 263 Lib-O-Ford G1(1.20) 102 Ligg & Myers (15) 102 Ligg & Myers B(15) 17% Link Belt (60c) 31 Loew's Inc (2) 1% Loft Inc. 19 Lorillard P 75 Louisiana Oil pf... 12% Louisv G&E(A)l‘n . 143; Ludlum Steel 40 MacAndrews& F 13 281 McCall Corp (2).... 9 McCrory Strs A (k). 8 McCrory Strs B (k) 57% McCrory Strs pf (k) 36% McIntyre Porcu (2) 90% McKeesport T P (4) 7 McKesson & Rob... 37 McKesson & Rob pf 12 McLellan Stores (k) 231 Mack Truck (1).... 36% Macy (R H)& Co(2) 18% Magma Copper (2). 7 Manati Sugar (k).. 4 Manati Sugar pf (k) 175 Man Elevm g (k) .. 1 Maracaibo Oil Exp. 4% Marancha Corp.... 57 Marine Midld (40c). 22 Marlin-Rockwell (2 73 Marshall Fleld. . ... 257 Mathieson Alk(13) 393, May Dept Str (1.60) 52 Maytag Co. . . . 32's Maytag xw (3) . 841; Maytag 1st pf (6).. 24 Mesta Mach (1%).. 2% Miami Copper. . 10% Mid-Cont Pe!(th) 61 Mid Stl Pr 1st pf(4) 1074 105 Minn H Reg pf (6). 5% 13 6% 143 4 6015 3015 66 —_— 19% 8% 30% - %| 146 142 1% 4% 34% 29% T 112 109 21% 813 14% 164 35% 4 13% 42% 21% ———————————— 10% 5% 15% % ‘m 90% 837% Owens-Ill Gla: 14% 2% 8% 5% 1% 4% 3% 1% 1% 1% 74 26% 16% 28% 5 5% 45% 2% 10 11% 6% 3% 15% 49% 88! 24% 4% Minn Moline Pow. .. % Minn &St L (K).... 3 Mo Kan & Texas... 6% Mo Kan & Texas pf. 2 Mo Pacifis pf (k)... 55 Monsanto C (1).. 24% Montgomery Ward. 61 Morrell(J)&Co 3.60. 3% Mother Lode. 8% Motor Wheel. 9 Mullins Mfg. . 367 Mullins Mfg pf.. 5% Murray Corp. . 14% Nash Motors (1)... 6% Nat Aviation. . 26% Nat Biscuit .2) Nat Biscuit pf (7)... 15% Nat Dairy Prod 1.20 1% Nat Dept Store (k) . 213 Nat Dep St 1st pf(k) 24% Nat Distillers (50c) 5 Nat Pwr & Lt (80c) % Nat Ry Mex 2d pf.. 43% Nat Steel (11%) . 223 Neisner Bros(t1%). 4315 Newberry(J J) 1.60 Newberry (JJ)pf(7) 145 N Y Central RR... 2% N Y N H & Hartford 6 NYNH& Hart pf. 9% N Y Shipbldg (40c). 30% Noranda Mines (h2) 215 North Am Aviation. 10% North Am Co (1)... 375 North Am Co pf (3). 15 Northern Pacific. .. 9% Ohio Oil (h45c).... 6% Oppenheim Collins. 131 Otis Elevator (60c). 5 Otis Steel. ... = 13Y% Pacific G& E (1%). 70 Pacific Tel & Tel (6) 7 Pac W'n Oil (h40c). 4 Packard Motor..... 8, Panhandle Prod&R. 314 Par-Publix ctfs (k) 2% Park Utah......... % Parmelee Transport 3 Pathe Exchange . 13% Pathe Exchange 64% Penney (J C) (h1. 40) 19% PennRR (1)...... 13% Phelps Dodge(h75¢) 23 Phila Co $6 pf (3).. 5 Phila Rap Tr pf (k) 38 Philip Morris (1)... 14% Phillips Petrol (1). % Pierce-Arrow (k) % Plerce Oil..... 7 Plerce Petroleum 31% Pillsbury Flour 1.60 7 Plymouth Oil (1)... 7% Poor & Co (B)... 11% Postal Tel & Ca pl. . 42% Proc & Gamb (13%). 201 Pub Serv N J (2.80) 623 Pub Serv N J pf (5) 46% Pullman Inc (3).... 8% Rurity Bakeries (1) 4% Radio Corporation. 511 Radio Corp pf A 3% 35% Radio Corp pf (B).. 1% Radio-Keith-Or (k) 7 RR SecIll Cent. 8% Remington-Rand... 70 Reming-Rand 2d pf 2% Reo Motor Car..... 11% Republic Steel. 36% Republic Steel pf. 3% 82 Revere Cop & Br pf. 21% Reynolds Metalsl). M S N0 O I G e Y RO 1S o Suna 00151 e b lunun-amannan °hia o 2 AR B A ] o IS -TXTCT OISO IRT-TOP - FV5 - Tererore) 14% 7% 26% - # FU 4 i EFEFE FF & P +4+) % 2674 403 2 9% 14% T 8% 11 104% 18% 14% 25 12% 19% 16% 205 5% 9% 11% 21 Seab'd Oil(Del) ('l) 32 Sears Roebuck 1% Second Nat Inv 7% Servel InC.....cc00 9% Sharon Steel Hoop 6% Shell Union Oil. 68% Shell Union Ofl pf.. 8% Silver King C (40¢). 8 SimmonsCo....... 15 Simms Petrol (1). 127% Socony-Vac (60¢c). . 20 Sou Por RicoSug(2) 11% South Cal Ed 1%4).. 13% Southern Pacific 814 Southern Railway. 10% Southern Rwy pf. 3% Sparks-Withington. 8% Sperry Corp (25¢).. 9% Spicer Mfg.. ... 79% 671 Spiegel-May-Stern. 19% 16% Stand Brands (1)... 126% 123 Stand Brands pf (7) 4% 2% Stand Gas & Elec. 5% 3 Stand G & E $4pf. 32% 29% Stand Oil of Cal(1). 25% 23% Stand Oil of Ind (1) 43% 38 Stand Oil NJ(11%) 64's 58% Sterling Prod (3.80) 5 2% Stone & Webster. 681; 65 SunOil (31) 2% 1% Superior O 9% 6% Superior Steel 81 Telautograph (1)... 19 Texas Carp (1). 324 Texas Gulf Sul 12)" 31 Tex Pac Coal & Oil 15’/: Thatcher Mfg (a Thermoid Co 3% Third Avenu 1874 Third Nat Inv L5 51 Thomp'n(JR) (50c) . 14 Thompson Products 2 Thompson Starrett. 8% Tide Wat Asso Oil. . 84 Tide Wat A O pf(6) 32 TimkenRB (1).... 5 Transamerica (25¢) 27 Tri-Contl Corp. . . 75 Tri-Contl C pf (6) 4'% Truax-Tra Coal . 4'» Truscon Steel. . 18% Twin City RT pf... .57 Und-Ell-Fisher (2). 45 Un Bag & Paper (4). 44 UnCarb&C (1.60). 14% Un Oil of Cal (1). 9415 Un Pacific (6). . 8214 Un Pacific pf (4) . 11% United Alrcraft. 5'x United Air L vte 241 United Bisc (1.6 46 United Carbon 2.4 1% United Corp. . . 213 United Corp pf 10 Cnited Drug 5 Unit Dyewood 71 nited Fruit (3) 12% 9% United Gas Imp (1) /| Bar Gold Soars + SEEER pEs ¥ +i44+ 411 ae L+ 44 1+44+1 4 4+ 4+ | +49 +++1 14% T 26% ]42'« 142 142% l ] 241 2T% 2 lOOl 113% = 0 RHED AeSaSwres @ o i 8 5 - = ah parShunonHpABMNRESwhomaRiman - - e - o w oo Y - I3 - 16% 4% 813 10 35% 2% 11% 387 16% 9% 6% 167 1% 24% 26% 5% B 44% 2413 51 13 16 T 2‘% 27 5% 1 44% 24% + % 51 1134 +1% 15% — % 45— % 8‘, + % 35‘« +1 ll‘n + % 387 FFEE - SEE RS & FE OEEF 74 | demand on’ shipper account very To Another Peak InLondon Tradme By the Associated Press LONDON, March 2.—The price of bar gold continued its rise today, sell- ing at a new high of 146 shillings, 10%; pence ($35.39) a fine ounce, an | increase of one shilling, 9': pence | over yesterday's figure. A quantily of | gold valued at £362,000 ($1.743,482.50) was sold at today's record price. Dipping as low as 478 to the pound at one time, the United States dollar gained markedly in Saturday's half-day dealings, closing at 4.79%. a net improvement of 4 3-16 cents from yesterday's closing price of 4.83 15-16. Today’s opening was 4.813g. The French franc, from an im- | proved opening, strengthened to close | {f at 71.64 to the pound. Yesterday's close was 72.87 to the pound. The slump in sterling was attributed to lack of confidence in the continent. PARIS, March 2 (#).—Three per cent rentes, 81 francs 45 centimes; 415 per cent rentes, 91.85. Exchange on London. 71.77. The dollar was quoted at 15.00. FOREIGN MARKETS. By the Associated Press PARIS—The slump of the pound sterling halted the upward tendency of the Bourse today. However. with the exception of rentes losses were 'slight International issues were unsettled. The closing was heav! BERLIN der”the impression created by the return of the Saar to Germany the Boerse registered a cheerful tone today. despite the small business done. Prices at_the close were generally sustained. LONDON.—Closed —U; e CHICAGO LIVE STOCK. CHICAGO. March 2 (# (United States Depiritat of Atricutture) —Cattle. 500; calves. 200: compared Priday Choice steers ‘and searlings commonkinds. steady: in-be TOTE Jower. these Selling at 10.00a12 narrow at close: general killing quality much better: all she stock active and strong to unevenly higher. heifers and beef cows 25 or more up at mew highs for sea giltters steady: bulls strong; vealers 50-7 hisher: Siockers eeders strong to e her ohly this kinds xetting country outlet: kiilers refused to pay 14.00. get- ting choice to prlme 1.478-pound Nebraska steers at 13.90, this being 5 cents under {he seasons top: best lisht steers long_ vearlin : 13.25; bulk fl! mm flOf'll" gme all steers for week, X eavy hi‘{"g in load lots. 11.0f 0.7 000: for week ending Priday. 123000 dirget: Compared Friqay jast week buik_slaughter lambs 50 higher. extreme 1op 60 or more up; sheep strons: feeding lambs strong to 2. eek’s extreme 9.35. paid at close oice doubles to ' local packer: camnnnuvely little above 9.10; late bulk 8.7 ith bulk previous midweek -mmn 300085 lmits: clipped Iambs. eariy 7.50875. or approximately 1.00 under comparable woolskins: Jearlings sca medium to_choice native ewes mostly; week's top 5.50 for lllht Weiiht Westerns: feedt l5‘1{’1“.:.‘\:5 5260760, ac- cording to weigl eri Hogs, 5.000. including 4,500 direct: numlnlllr ‘steady: good to choice kinds ractically absent: quotable top 9.50: few lignt 1ishts sold at 510 down lnd mAled holgover 1 bty quonuons nom- in ast. week: N well as htlflr! FOREIGN EXCHANGES. NEW YORK. March 2 (# — Foreign exchange irregular; Great Bnmn in dol- ot} ain, de- * oooday bitis, "Pri emand. cables, ltaly. demand, §350; Ceables. 8.50: iand Bell 5 Oermtny‘ - 31 . rokio,’ 2510, Shanghar Honglam 489n Mexico City (silver eso). 27.85; Montreal in New York, 9.7%; New York in Montreal. 100.25. ‘n-Nominal. — INSURANCE STOCKS NEW YORK. March 2 () —New York Security Dealers’ Association Gas (2128 Fire Aetna Life Asricultural Am Ins NEI.rk (l’i) Am Reinsur (213) Hanover (1.60) Hartford Pire (2) . 17% U S Pipe & F' (50c).. 4% U S Realty & Imp! 13% U S Rubber. % 31% U S Rubber 94 59 2% 18 12 71 Vulean 3' Warren 72 43 6015 .| 102% 110% 95 241, 21 11 1814 I+++1 34 Wilcox 5'3 Wilson |+ 1+ 51 3% Yellow 1% 11:00 A.M cash paymen | declarations IIIl%illl&{# #9 1in stock \ stock stock | divigenas ganized | BSoce GEx'a videna New York Cotton By the Associated Press. NEW YORK, March 2.—Cotton fu- tures opened barely steady, 4 to 8 llowcr in response to disappointing Liverpool cabies and on nervousness | over the foreign exchange situation. March, 12.29; May,12.41; July, 12.49; October, 12.43; December, 12.49; Jan- 'uarv. 12,51 | “Business was fairly active at the start, but later there was some realiz- mg or liquidation by buyers of late| yesterday. There was also some Southern selling as well as foreign selling through houses with foreign connections. These offerings were ab- sorbed by the trade and commission houses. May sold up to 12.44 from 1241, with the active months 3 to 6 points net lower at the end of the first half hour. Futures closed steady. unchanged to 3 lower. Low. 120 Spot steady: middiing. 12 Cottonseed Oil. Bleachable cottonseed oil futures | closed steady. March, 11.55B: April, 11.60B: May, 11.80B: June. 11.80B; July, 11.92B; August, 11.93B; Sep- tember, 12.00B; sales 14 contracts. B—bid. Liverpool Quotations. LIVERPOOL. March (#).—Cotton, 6.000 “bales including 1,700 Americar Spot in fair demand: prices 5 points high- STATE AND MUNICIPAL FINANCING SCHEDULED | By the Associated Press. NEW YORK, March 2.—New State and municipal financing scheduled for the coming week totals $52,495,825, compared with $11,866,431 in the cur- rent week, according to the Daily Bond Buyer. Of this total New York State's offering of $45,025,000 bonds :1: Tuesday is the largest individual m. ‘ Washington Exchange SALES. AFTER CALL. Potomac Electric 5% % pfd—5 at 114. Capital mmlt Co.—10 at 253, 10 at 251, 10 at 25%. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Bid Amer. Tel. & Tel. 107 Am. Tel. & Tel, col. 109 Anacostia i Asked “1! .o .. 5s. City & Suburban 3s. Gmruvtown Gas_1st Poy Wlsh Gas 6s. series h. Rwy. & Elec. 4s. MlBCE-MNEOUS Barber & Ross. Inc, $ Chevy Chase Club 5s. ol Cogntry Ciub Blas. ?e 6s. W. S 'O storase 58 STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. (9).. cwlm Transit Co. (1) & W. Steamboat (6) Wash. Ry. & EL Weeh: By, £ B 506 NATIONAL BANK Capital Liberty (). Lincoin (5) Riggs (8). Riges pfd Washington (8) ‘TRUST COMPANY N " s&t‘&_r'l‘! Co. IB) . }:‘mfl"a v. g W‘lh ;&ln & Tr. (8). 182 SAVINGS BANK. Com. & Savings (6) 150 FIRE INSURANCE. American . - Corcoran Firemen's 2 Netione Union (.60) " TITLE INBU'RANCK Gnlul'nhll (.30) Real Estate (6) Lanston Monoty) Mergenthaler Peoples Drug St pr msm'ul Roml Bot M &6 20) o2 Security Siorage B 23 Corp. " (3). 4+ Westingh’se Elec Weston Elec Inst Westvaco Chl (40¢) 21% White Rock M S (2) 1% White Sewing Mch. 18% Young Spr Wire (1) 15% Youngstown S&T.. Zenith Radio. . . 4 Zonite Product 4 Sales of Stocks on the New York Exchange. .. 110,000 Dividena rates as given in the above table s n al are the annual sUnit of trading less than 100 shares. hPald miSompanies teported in receivership of 4. 124% 106% U S Smelt &R (h’). 40% 31% US Steel..,....... 79% U S Steel pf (2) 52 Univ Leaf Tob (2).. 138 120% Univ Leaf T pf (8). 1% Univ Pipe & Rad. .. Univ Pipe & Rad pf. 14 Util Pwr & Lt (A).. % Vadsco Sales Corp.. 16 Vanadium Corp 11% Van Raalte. . 34% Vick Chem (12. 313 Va-Car Chemical. ., 20% Va-Car Chem 6% pf. 85 Va-Car Chem 7% pf. 72% Va El & Pwr pf (6). Detin (a4).. 1% Wabash (k). 1% Wabash pf (A) (k). 27% Walgreen Co (m1). 1% Walworth Co 1% Ward Baking 3 Warner Bros Pic 7 Warner-Quinlan. .. Bros. » Webster Eisenlohr. .’H)ly Wesson O&S(11.25) Wesson O&S pf (4). West Pa Elec A (7). 41'; West Pa Elec pf (6) 47% West Pa Elec pf (7) West Pa Pw pf (6) . 104% West Pa Pwr pf (7) 6% Western Maryland. 2% Western Pacific Df. a‘em rn Union. (s ey Rich A(2%) & Coal2lc. 68 Wilson&Co pf(6) n. Woolworth (2.4 75 Wrigley (W, Truck 4 + 19% + % 167 + 19% 16% 1% 1% + ¥ 12:00 Noon 250,000 op the latest quarterly or bhalf-yearly TPartly extra IPlus iast year—no regular rate bPayable in stock_ fPlus $1 1n special preferred aPaid_ this vesr iAccumulated et M nPlus 3% North American Dividend Ordered, | Special Dispatch to The Star. | NEW YORK, March 2.—The North American Co. has declared dividends of 75 cents per share on the preferred | stock and 25 cents per share on the common stock for the quarter ending March 31, 1935, both dividends pay- | able April 1, 1935, to holders of record | |on March 11, 1935. The following statement was sent to the stockholders: “These dividends have been de- | clared with some hesitation because inherent in pending Federal legisla- tion, “The ‘public utility act of 1935’ if enacted, would destroy this company and compel a dispersion of its assets under conditions which would involve heavy loss to the stockholders. It would, in ultimate result, turn the public’ utility industry over to political bureaucracy. “We believe that sober thought and common sense will result in the de- feat of this unnecessary and destruc- tive measure. In that belief the di- rectors have declared the current div- idends. The pending bill will not. however, be defeated by lethargy. If | those most directly affected — the ; stockholders—appear to be indifferent, efforts of others on their behalf will | carry little weight.” NEW YORK BAR SILVER. NEW YORK. Ma .—] strons. 1 Digher ‘st 537, & Do sliver U. S. TREASURY POSITION. By the Associated Press. The position of the Treasury on Feb- ruary 2% was: _Receipts. & 7.240.01; expenditures, - $12.160.218.52: balance. 2.080.644.091.65: cusioms " Teceipts for t.he month, '$24.959.895.2 mmpu for, the snlscn ear (isinee July 1 of f”'s“x‘“s'“’ assets, 26,204 9: Receipts for February mrnble d-u last yeln exp!ndltur%s] S$121 ot smergency exnendhures\ $2.340.920.205.4 ‘28, 1934 cflh"l S742 ust ms” Feceints X onth, $23.2 R@,flivl! for the flsfll yeu $1.885,« 01.240.85¢%; gxvenditures. $4.937.77 uncmdln: $2.411.156.! xpenditus \nénment removed from Te- ceivts on this date. _ METAL MARKET. YORK. March 2 (7 —Tin barely . spot and ntlrby 47.60: future, 30" Zinc firmer: East St. Louls. spot and future. 3.90. Other metals nominally unchanged. STATEMENT OF THE. CONDITION London & h:rume Indemnity Company of America Of New York. on the 31st day of Decem- ber. 1934. as required under section 647 of ‘the Code of Law for the District of Columbia. Net premiums Total interest and rents. Other income Total income. . Ne ers for loss A other disbursements .$1.368,177.42 . 1.468.019.08 .+ .$2.836,196.50 Rt 374.408.28 873.255.47 52.362.31 201,147.97 .$5.007 058 20 Dedult assets not ‘sdmitted: > 383.076.54 Total admitted assets. ..$4,810,881.86 Cash in company's office. Deposits in bank up. 000 SaPhins Bver a 78.66 Total..... ...$4.810.881.86 NET PREMIUMS WRITTEN DURING THE YEAR. . District of ‘Total. colnm ia. $101.913.20 504 1.135,174.33 384.991.63 313.871.80 H 101 ”5 Accident Health Auto_liabilit Liability than a ‘Workmen's compensation Pidelity ...... & 106.049.09 135.365.81 327.523.60 21.610.34 8.653.03 .....000n -$2.720.733,15 $10 808.42 wu President. URMSON. Secretary, Jubscribed and l'orn to before me this than auto. Totals. . Bill Is Attacked | of the threat to the company’s future | .| Metals Advance at Slower Pace—Other Changes Are Small. BY VICTOR EUBANK, Assoclated Press Pinanclal Writer. NEW YORK, March 2.—The stock market was notably calm today in the face of another slump in sterling and a jump in London gold and silver prices. Even the metals lost their i buoyant tone of the previous session and were only moderately higher. Fluctuations elsewhere were generally narrow. The close was somewhat irregular. Transfers approximated 260,000 shares. The pound dropped some 3 cents to around $4.78, the lowest level since October, 1933. At the same time the British gold rate was lifted 9% pence to 146 shillings 10! pence an ounce (equivalent to $35.37), a new record peak. The English spot silver price also shot up to 27 pence an ounce, the highest since October, 1928. In New York silver hoisted 1 cent to 577 jcents an ounce, also a new top in nearly seven years. European gold currencies naturally exhibited strength against the pound and dollar. While some brokerage quarters in- terpreted the gyrations of the precious metals and foreign exchanges as an indication that further inflationary steps might have to be taken by the New Deal administration, conservative banking quarters and many stock traders were not so sure. -That lead- ing equities did not respond to the inflation implications, it was pointed out, was not surprising in view of disturbing possibilities connected with Prance and the gold bloc countries being forced off the standard. There were scattered share gainers of substantial amounts. Columbia | Carbon got up more than 3 and American Crystal Sugar preferred stepped up 2. Among others, frac- tionally to around a point better, were Home Stake, Cerro de Pasco, Ameri- can Smelting, Howe Sound, American Sugar Refining, Douglas Aircraft, Westinghouse and General Electric. Losers of as much included Lig- gett & Myers “B.” Coca-Cola, Union Pacific, Santa Fe, N. Y. Central, Chrysler, American Can, Bethlehem Steel, Consolidated Gas and Western Union. Such issues as U. S. Steel, American Telephone, General Motors | and National Distillers were virtually | unchanxed VICK CHEMICAL EARNS | $3.45 A SHARE IN YEAR | By the Associated Press. NEW YORK, March 2—Consoli- dated earnings of the Vick Chemical Co. in 1934 were $2,417,834, equal to 18345 a share on the capital stock, Icompared with £2,339,296, or $3.3¢ a share, in the previous year. Current assets of the company as 1of December 31 were $7,941,341, of | which $5922440 was in cash and marketable securities. Current liabili- | ties were $1,025,413. DIVIDENDS .ANNOUNCED NEW YORK. \hrch 2] tics Stk of Pa: record. able. 3! 2-%8 Rate. riod. Extra, ovest Corp Phil....25c . Marsiand Pund 011258 o Reumea Godchaux § $7 pf. .$1.75 Reduced. Nat Line Sve $7 of . $1.75 .. Rerul, -15 -15 Amliated P A Biclorsd Am Hard Rub 8¢ p Bankers Nat Life Ths 3 Beneficial Loan Soc British Columbla Chicaso B & Canal icao anal. 81 Be'ole o & Eve 000 O ORZ of . erylund FPun NEwYBeftord Tav T+ Rogemars 1ite Co Ruid’ Mfe, do Senior. Securities.’ 30c Q West Md Dairy i 8150 @ 3- STATEMENT OF THE CONDITION OF THE Fidelity-Phenix Fire Insur- ance Co. of New York On the 31st day of December, as required under Section 647 Code of for the District of Columbia. Income. o Net premiums ........$15 Bflfi 779.05 Total interest and rents Other income .. Total income Di ents. Net amount paid policy- holders for losses. All other disbursements. Total disbursements Asset 1,738,307.24 48,795,590.00 1,000.00 1,987.560.50 2,635.314.72 e . 169.732.71 Real estate ... Bonds and stocks. .. ... Cash in company’s office Deposits in banks Agents’ balances _ .. Interest and rents or accrued Gross assets . Deduct mitted . Total admitted assets $55.036. Liabilities. Net unpaid claims Total _unearned miums . ..... Other liabilifies $55.036,775.48 Net Prmln‘:ll Wrillel During 624.547.88 932.874.05 21.024.65 2.239.85 hicles . 5.235.88 Earthquake 8.00 Inland naviga- tion trans- portation 776.938.78 1.050.607.30 80.733.58 r leakage. . 36,974.54 Riot. _civii commo- tion and explosion Alreraft. . 93.708.84 885.28 5.687.75 260.27 $15.606.779.05 $63.550.58 C. W. PIERCE. J. 8 _KING. Vice President, Asst. Secretary Subscribed and sworn to before me this 6tk day of Februsry 195 A Noury Public. Queens County. Cl!r’k'l 1938, Resister's No. 5310, in New_ York cnuntm . 137 Register's No. Cammiaslon exvires March €KLEGE.JR. W.GOUNLOP G.A.GRYFIWN GRIFFIN& (0. Ixc. ~—h ’ rance ond § 3 & Las NATIONAL 1833 HIBBS BLDG. WASHINGTON,.D.C. 8 ~ %' 35 3 4+ % 61 2 14% 14% 14% 51% 124 124 124 -8 1 cents per share and an extra cash distribution of 5 cents per share have been declared by Maryland Fund, Inc., payable March 15, 1935, ' 5 i 914 8 Gamewell Co. 38% 34% Gen Am Trans! 187% 14% Gen Asphalt. 124 115 Gen Baking p! «4) Wdwe (1.20) 3’? 04 rvn;g ah 110% 193000 extra. lh com. B rop bid. (7). Thenaly™ TR m-r " SPENCER, Notary Publl My commission expires Feb. MO. 561 Reynolds Tob (3)... 46% Reynolds Tob B (3). 6 Ritter Dental.cccas