Evening Star Newspaper, August 10, 1935, Page 12

A—12 ¥ ' DEPOSITS MOUNT INNEWEST BRANCH Cohmerce & Savings Unit Reports Total Already Above $300,000. ‘The newest branch bank in the city, established by the Bank of Commerce & Savings at North Capitol and H streets last November was reported by officers today to be making ‘steady progress,” with deposits now well above $300,000, and a new personal or small‘ loan department established. { Before the close of the year its offi- cers predict the branch will have de- | posits of more than $500,000. In addition to the usual depart- ments found in a commercial and sav- ings bank, this branc hhas installed its personal or small-loan department. ‘The plan for making these loans fol- lows closely that of the National City Bank of New York. Loans are made in multiples of $50 up to $300 either to individuals or firms, and payments of the loans are made in monthly install- ments. The bank deducts 5 per cent | from the face of the note as its charge. The other requirements are that the borrower be permanently employed, have a good reputation for paying his debts and have two equally reliable tomakers join with him in executing the note. Francis E. Robey, assistant cashier | of the bank, is in charge as branch | manager and the Advisory Board con- | sists of A. E. Giegengack, public printer | of the United States, chairman; Wil- | liam M. Mooney, postmaster, vice | chairman; Leo A. Rover, former| United States district attorney for the District of Columbia, and Thomas J. Groom, vice president and cashier of the bank. M. D. Rosenberg is presi- dent. Critical Problems Seen. The Chamber of Commerce of the United States in its current “Washing- | ton Review” declares that ‘“public | finance has never given rise to more | sweeping and critical problems than | exist today. The national debt,” it explains, “now exceeds $29,000.000.000. Appropriations have already been made for more than $8,000,006,000 of | Federal expenditures in the current 12 | months, The very magnitude of these | figures should certainly bring home to all of us a realization of the gravity of the problems of public finance in | the United States so long as they are not deliberately and methodically dealt ‘with. “The new tax bill highlights these FINANCIAL By private wire direct to The Star. Prev. 1936 Stock and Bigh. Low. Dividend Rate. 47% 32 Abr & Strauss (11). 62"1 51 Acme Steel (12)... 7' 4% Adams Express 33% 28 Adams Millis (2) 13% 8 Addressog’h(alfe). 12% 45 Advance Rumley __ 1% % Air-Way Elec Appl. 20' 15'% Alaska'Jun (160c) _ 813 114 Albany Wrap Paper 1% % Alleg Corp (d) § 2% Alleg pf w830w (d). 615 2 Alleg pf w$40w (d). 12% 6% Alleg pr pf (d) 303 21 Allegheny Stl (1) 162 125 Allied Chem (6)_ 7% 3'x Allied Stores 6814 Allied Stores pt (5). 27 Allis Chalmers Alpha Port Cmt (1). Amal Leather 48 2 Amerada Corp (2)_. 41% Am Ag Ch Del (2).. 13'; Am Bank Note 42 Am Bk Note pf (3)_ 21 Am Brk Shoe (1) ... 110 Am Can (14) 10 Am Car & Foundry_ 254 Am Car & Fdry pf_. 8 Am Chain 2% Am Colortype______ 22'; Am Comcl Alcohol... 63 Am Crystal Sugar _ 72 AmCrys S 1stpf 6. 2% Am European See 2 Am & Foreign Pwr 12 Am& For Pw $6 pf. 14 Am & For Pw $7 pf_ 3’ Am & For Pw 2d pf_ 2% Am Hide & Leather. 17 Am Hide & L pf 29'x Am Home Pr (2.40). 2% Am Tee 4'3 Am International 9 Am Locomotive 1819 Am Mch & Fy (80¢) 4'¢ Am Mch & Metals _ Am Mch & Met vte.. Iu Am Power & Light_ '« Am Pw & Lt $5 pf__ Am Radiator m Rolling Mills __ Am Safety Raz (5). q Am Seating vte 26 20 Am Shipbldg (2)___ 47'< 21% Am Smelt & Ref 1174 103 AmS&R 6% nf 21314 76 63 Am Snuff (+3) 19°% 12 Am Steel Foundry _. 106 8% Am Stl Fdry pf (2). 43 331, Am Stores (12)_ 704 511 Am Sugar (2) Am Sum Tob (1)___ Am Tel & Tel (9)_ Am Tobacco (5)__ 1008, 74% Am Tobacco B (5) 1405 129'« Am Tobacco pf (6)_ 6% 23 Am Type Fdrs (d)_. 147« Ti« Am Water Works 9% 4% Am Woolen 5113 2513 Am Wonlen pf 62 21 Am Writ Pap nf (d) 5% Am Zine & Lead 1810 Anaconda Copper 17% 12z Anchor Cap (60c) 7% 31« Andes Copper 52 36 Archer Dan M l'” 1035 97 Armour Del pf ( 6x 31 Armour of Tllina! 552 Armour(Tl1)pr pf 6 3 8 Sales— Add 00. High. 47 6 408 4 281% 15 1602 L 681 271 167 an 67 4914 30 63% 371 9 144% 10 24% 1 54% 18 17 40s 1 17 10 35 23 Low. 4% 60 7% 304 13% 12% 1 15% 2% 1% 4% 28% 159 634 37% 143 24v 543, 14 3% 24% 14 74 8% 678 35 THE EVENING TRANSACTIONS ON THE NEW YO Net. Close. Chge, 4% 60 — % 8+ 4 304 13% + 124% 1 16+ 20 + 1t + "+ % + 1+ 285 + 159 7 W w W 68 + 2% + 167 ER PE FRERE I % 3T 424 105% 3 10% 12% 30% 5t 1101 131 8 164 23% 29 ‘9"1 17% 132 STOCK AVERAGES Net change.. +.2 Today's close*65.4 Previous day 65.2 Month ago. Year ago. 1935 high. 1935 1934 1934 1932 1929 1927 Compiled by the Assoclated Press *New 1935 high. 22% Deere & Co : 19 - Deere&Co pf (375¢). 2315 Delaware & Hudson Del Lack & West 34% Diam Mat pf ( 11 3 2 3% Eastern Roll Mills tman Kod pf (6) ton Mfg (1) 19% Electric Auto Lite._. Elec Auto L pf (7). 374 Electric Boat ec & Mus Ind l'- Elec Pw & Lt 2 Elec Pw & Lt $6 pf.- Elec Pw & Lt $7 pf_ Elec Stor Bat (2 " Elk Horn C pf (d) __ 125% Endlicott-Joh pf(7). 1'x Engineers Pub Sve. 14 Eng Pub Sve $5 pf_. 145 Eng P S $5.50 of ww 413 Equip Office Bldg 141 E 16% E 107 5% El 6% Erie R R 2d pf 103 Eureka Vac C (80c). Evans Prod (al)- 15 4 1 Stock and Dividend 312 Crown Zelleb'k vte. 14 Crucible Steel 5 CubaRRpf 51 Cuban-Am S 40'; Cuban-Am Sug pf.. 40 Cudahy Pkg (2%)-. 15 Curtis Publishing.. 8913 Curtis Pub pf (7) 2 Curtiss Wright__ 6% Curtiss Wright (A) 26% 16 Cutler Hammer Dome Mines (12) 6% Dominion Store 71y Douglas Alrcraft Dunhil Internatl £6°% Du Pont de N(2.60). 1267 Du Pont deb (6) . Fairbanks Co pf ... Fairbanks Morse banks M pf 3% 5% Fed Lt & Tr s 3% Fed Motor T (allc). 74 Fed Water Sve (A) - 16's Fed'd D Strs (160c). 28'; Fid Ph F In (11.20). 13's Firestone (40c) 8415 Firestone pf A () _ 45% First Nat Strs (233) STAR, WASHINGTON, 30 15 Indust. Rails. +.2 25.7 25.5 243 239 276 18.5 43.0 228 8.7 153.9 95.3 15 60 Util. Stocks. +9 44 *378 *486 36.9 482 32.7 45.4 279 37.0 318 486 216 348 406 51.4 242 349 239 16.9 1843 1577 618 61.8 62.3 48.0 65.4 Sales— Add 00. 15 6 Net. Low. Close. Cnge. 4% 25% 26 19 35 8 2678 37 16% 39 37 Rk 29% 3 110% Ty 127 1%5) + 4+14 4411+ D. C., SATURDAY, AUGUST 10, 1935. RK STO Low. Close. C.I. 394 39% + % 44w 1% 2% 130 121% Loose- Wil 24% 144% 124 Lorillard P pf (7).. 1% 20'% AT Divigend Rate. 46 00, High. 31% Loew’s Inc (2) - 26 39% 1 Loftlne . _ 3 1% 1% Long Bell Luln (A) 1 1% 808 125 10 24% 308 144 184 Lorillard P ('l IO)- % La Oll Ref (d) .____ 10% Louisv GREpfA 1%. 34 Lou(!&anh:l!‘/‘). 23} 12% Ludlum St 92"4 Ludlum Stl pf (6 35 13 12% 8613 45% 11% 13% 82 28 McCall Corp (2) . T% McCrory Stores (d). 612 McCrory Strs B (d). 57% McCrory pf (d)..._ 36% Mcintyre Porcu (2) 90'; McKeesport T P (4) 57 McKesson & Rob 3 McKesson & Rob pf McLellan Stores 2 McLellan Stores pf. Mack Truck (1) . Macy (R H)& Co(2) Mad'n Sq Gar ale.. Manati Sugar (d) .. Manati Sug pf (d).. Mandel Bros ... Man Elev gtd (d) _ Man El md gtd (4) .. Manhat Shirt (60c). Maracaibo Oil Exp Marine Midld (40c). Market St Ry pr pf_ Marlin-Rockwell(2) Marshall Field & Co Mathieson Alk(1%) May Dept Str (1.60) 4 Mavtag Co Melville Shoe (Z‘A) Mengel Co . - Mengel Co pf » Mesta Mach (1%)_. 2 Miami Copper - Mid-Cont Pet (a15c) Midland Steel Prod Midl'd St] 1st pf(8) Minn Hon R (13)__. 1 103% Minn Moline Pw._. 2 M Mission Corp O Mo Kans & Texas _. 10 3% Mo Kans & Tex pf_. 54 Mo Pacific pf (4) __. Mohawk C M (a25e) Monsanto Chem (+1) Montgomery Ward_ Morrel & Co (3.60) _ Motor Products (3). Motor Wheel (60c)- Mullins Mfg 36% Mullins Mfg pf. 4% Murray Corp 40s 1142 at Cash Re AHOC) at Dalry Pr (1.20). 46 at Dept Stores (4) 31 at Dept Strs pf(d) 130s at Distillers (2).. 40 at En & Stpg (2) . atomas Co (80c)_. 21'¢ Neisner Bros (t1) _ l’l 12 Newberry J J(1. 60) ewport Industries Y Central R R 1% 1% 24% 144 % 20% 41% 21% 17 9 314 10% 29% 51 14% 58y s 33 31% Ay 101, 1814 114 103% 4% 12% 3y I High. 33% 4 20 FElEEEE I +++ I+ +11 2% 6915 501, Stock and Bales— Dividend Rate. Add 00 High. 22 Schenley Distillers. 32 1% Schulte Retail Str: 8 Schulte Re Strs pf.. % Seaboard Air L (d). 20% Seab’d O Del (160¢). 314 Seagrave Corp__ 31 Sears Roeb'k(a76c) 114 Second Nat'l Invest. 40 Sec Nat Inv pf $2%. 7% Servel Ine 9 Sharon 8 - 31 Sharp & Dohme 7% Shattuck(F G) (25¢) 5l Shell Union Ofl ... 634 Shell Union Oil pf__ 8% Silver King C(40c). 6 Simmons Co —— 5 Simms Pet (a50c).. 615 Skelly Ol __ 13 Sloss-Sheffleld 15% Snider Packing 11 Socony-Vac (30¢) 20 Sou Porto R Sug(2) 1 2% un- 10 5 S | 35 2 408 25 15 2 3 41 39 T Sesthes Rwypf__. 57 42 Spalding(AG)lstpt 50sg 3'a Sparks-Withington. L) 3% Spear & Co________ 560s 32 Spencer Kell (1.60). Tl Sperry vic (aZbe) . 813 Spicer Mfg__ 437 Spiegel-May-Stern. 6 Spieg-May-S rts 13% Stand Brands (1) _ 2'2 Stand Com Tobacco. Stand G & E $7 pf__ 7% Stand Oil of Cal (1) Stand Oil of Ind (1) Stand Oil N J UU Sterling Secor (A)- ewart-Warner___ Superheater (50c)._. 1% Superior Oil Superior Steel ____ wift & Co (150e) - 6% Telautograph (60c). 4 Tennessee Corp.. 163 Texas Corp (1) 28% Texas Gulf Sul (2). 34 Tex Pac Coal & Oil_ 813 Tex Pac Land Trust 14 Texas&PacRR __ 13'» Thatcher M (a50c).. 5% The Fair_____ 2 Third Avenue ___ 13% Thompson Produ. 1% Thompson Starrett. 7% Tide Wat Asso Oil . 84 Tide Wat A O pf(6). 4% Timken-Detroit 28% Timken R B (11) 4°s Transamerica(30e). T4 Trans & Westn Afr_ 5's Transue&Williams. 1% Tri-Contl Corp. .. 69 Tri-Contl Cor pf(6) 3'3 Truscon Steel __ 18 Twin City R T pf. 1ix Ulen & Co 51 (‘. Und-Ell-Fisher (2) Union Bag&Pap (2) CK EXCHANGE Prev. 1935 Low. Low. Close. cnu‘ 32% + 2% — 16% + 913 + 24 1'% 25y 7 1% “ 2T + 47 18% < 66 - 1% 180+ FESE FFES FINANCIAL, STOCKS ARE FIRM AT WEEK'S CLOSE {Many New Highs Reached as Volume Climbs to About 1,390,000. BY VICTOR EUBANK, Associated Press Financial Writer. t:g NEW YORK, August 10—Numer- 1 | OUS new highs for the year or longer 1, | Were registered in today's brief stock market session despite the usual week end profit taking. While gains generally ranged from fractions to a point of so, the trading »| volume was around the largest for a | Saturday in a number of months. The close was firm. Transfers ap- | proximated 1,390,000 shares. | The news, from the market's stand- % | point, was a little mixed, but the ap- %2 petite of most traders and investors for leading equities still seemed unap- | peased and overnight buying orders % | piled up in the commission houses, Y% The “blue chip” tavorites continued | to attract followings, although a num- 2| ber of low-priced stocks eame to life. " | Brokers said public interest was in- creasing with the South and South- west contributing substantially to the demand A jump in wheat prices at Chicago, following the Government's crop esti- mate, brightened the picture. Cotton improved moderately. Rail bonds 's | gave another lift to the loans depart- ment. Foreign exchanges were quiet. Among the new 1935 top records were American Telephone, Western « Union, Consolidated Gas, U. S. Steel, 2 General Motors, Chrysler, North | American and New York Central. 0 her active gainers included Bethle- | hem, Youngstown Sheet & Tube. Au- burn, Public Service of New Jersey, a, | Standard Gas, U. S. Industrial Al- cohol, American Commercial Alcohol, Delaware & Hudson, New Haven pre- ferred and Phillips Petroleum. Most of the oils were only slightly better and the metals merely marked time. Some brokerage quarters found en- couragement in Washington reports that the Senate Finance Committee, in its first executive session yvesters day, had rejected the administration’s recommendation for a steeply gradu- ated tax on corporation incomes, turned down the House inheritance rates and altered the excess profit tax The controversy between the Gov- ernment and striking relief workers was being watched closely. It was re- alized that if the trouble spreads & setback in business revival could re- 14 B 70% 3 1612 Armstrong Cork 50¢ 4 Arnold Constable 715 Asso Drv Goods 19 6515 2018 11 Flortheim (1) A Follansbee Bros(d). Food Machine (1)__ Foster- Wheeler 60% Foster-Wheeler pf 19% Four Nat Iww al.10 8% Fox Film (A) Freeport-Texas (1) Y Chicago & St L. Y Chi&StLopf _ Y Investors (d) Y N H & Hartford NY N H & Hartf of N Y Ontario & West 'x NY Railways pf __ 6's N Y Shipbuilding . 79 N Y Steam 1st (7)_ 30% Noranda Mines (2) 2 North Am Aviation 9 North Am Co (1) Un Carb & C (1.60)_ Un Oil of Cal (1)__ Un Pacific (6) Un Pacific pt (4) __ Un Tank Car (1.20) United Alrcraft United Air Line vte United Bisc (1.60) United Carbon 2.40._ United Corp United Corp pf (3)_ « United Drug_._ United Dyewood. ._ United Dyew pf (7) United Eiec Coal___ s United Fruit (3)___ United Gas Imp (1) U S Distributing . U S & For'n Secur USFreizht (1)..__ 5 . M Prices un- U S Gypsum (1) __ s 64 n s e e US Ind Alcohol (2) 2 Sheluding. eracing US Leather vic = SxEA M. TS Eanthar A .. mediums, 31; U. 8. USPipe & F (50c) P&F 1st pf 1 Realty & Imp__ S Rubber Rubber 1st pf Smelt & R (a6) S Steel -~ U S Steel pf (2) ___ U € Tobacco (15 United Stores (A) . Cniv Leaf Tob (12)’ 4« Univ Leaf T pf (§)_ Univ Pipe & Rad . _ Univ Pipe & Rad pf Util Pw & Lt (A) problems. In its content and in the method and circumstances of prepara- tion it demonstrates the hazards | 353 Atch To&S Fe (a2) which all business enterprises, regard- | 19'; Atlantic Coast Line less of size, will run so long as public| 7 3 At Gulf&W Ind __ 615 finances are not brought into an '-_:1'~ [-’\"v’fl"'ri" n::frlz‘»' 2 3: . ordered condition. Whatever the other J28 AtlnaBowder (3) = f effects of the bill and however in- gt s B i equitable they may be. the repercus- 15 Aunis Avis ( sions on businesses of every size,| 14 %13 Austin Nichols through drawing away capital where| 63 2 Austin capital is mos. needed and in causing | 4 NEW YORK BAR SILVER. NEW YORK, August 10 () —Bar silver, steady; unchanged at 67%. 24 H o P 24 405 1131, 11 3 10 131 608 100 374 4% Gamewell Co __ 513 Gen Am Investo; - 32% Gen Am Trans(1%) 11% Gen Asphalt Th Gen Baking (60¢). 5% Gen Bronze._ 2 Gen Cable 4 Gen Cable (A) 50 Gen Cigar (14)____. 201; Gen Electric (60¢)-. 3214 Gen Foods (1.80) __. ' Gen Gas & El (A) " Gen Mills (3) Gen Motors (12) Gen Motors nf (5) __ Gen Print Ink(1.60) 93'; Gen Print Ink pf(6) 1's Gen Public Service. 15% Gen Ry Signal (1)_. 2 Gen Realty & Util__ 14% Gen Real & U pf ww 12 16% Gen Refractories 14 Gen Stl Casting p 10815 10812 12 Gillett Saf Raz (7) 12 1% 3~ 702 Gillett Saf R pf (5). 464 21x Gimbel Bros 18 Gimbel Bros pf- s Glidden Co (11) _ 1047 Glidden Co pr pf (1) 1'x Gobel (Adolf) (d)__ 14% Gold Dust (1.20)_ 7'z Goodrich (B F) 40 Goodrich (B F) pf. 15% Goodyear T&R ___. 70 Goodyear $7 pf (4). 215 Gotham Silk Hose Graham-Palge Granby Consol 21 Grand Union : 14° Grand Un pf (1%)_. 18'x Granite City Stl (1) 26 Grant (W T) (11) .- 9%, Grt Northernpf __ 91, Grt North Ore (50¢) 26% Grt West Sug (2.40) ‘s Greyhound Corp Gulf States Steel __ 48 Gulf States Stl 1st_ 29% | 2% Aviation Corp(Del) disruptions upon the death of any of | ————————————e the principal owners, would increase | l:; Baldwin Loco (d) the forces of disorganization. - 2:‘]?!‘::&%%:{0”) ““The opposition to such legislation, o Baltimore & Oh pf_. which, of course, is contrary to the | % 3' Barker Brothers __ principles to which the Chamber has | 57 Barnsdall Corp long been committed by its member- 14'< Reatrice Cre (affe) ship, has been expressed to committees 72 Beech-Nut P (+3) of Congress, through appearance by 11'¢ Beldine-Hem (a50c) members of the Chamber’s Committee r’:::%‘u:lflra:'?:r 5 on Federal Finance, and the nature Rest & Co (2) "7_- of the legislation has been placed be- Rethlehem Steel fore the entire membership. There Reth Steel pf(al%) will be no relaxation of the efforts Rizelow-San Corp to keep forward the principles for Rlaw-Knox which the Chamber stands and at Bloominzdale (40c) each stage the membership will be informed of developments.” | MEATS —Beet 14« 9% Ohio O1} (a15¢) 16a18. e 181 Oliv Farm Eq(new) 31; Omnibus Corp « Oppenheim Collins_ 11:x Otis Elevator (60c) 4'% Otis Steel s 22% Otis Steel prpf ___. 80 Owens-I1l Glass(4) smoked 7, lard, A3y s Bureau of I+ 1 16 | white “eggs eting costs) 2 134 PacificG& E (1%). 19 19 Pacific Ltz (2.40) _ 17 12 Pacific Mills 1 70 Pacific Tel & Tel (6) 6% Pac Wn Oil (b40e) 31; Packard Motors 615 Panhandle P&R pf Par-Public cod (d)_ Park Utah Pathe Exchang Pathe Exch (A).oee Patino Mines PennevJ C (3) ... Penn Coal & Coke _. 5 Penn Dixie Cement. 3% 3 1 Penn R R (1) = Peoples Gas Chi Petrol Corp_ Phelps Dndge(l 5c) Phila Co 6% pf (3)_ Phila & Read C&1 « Philip Morris (1) __. Phillips-J C pf (7). « Phillips Petrol (1)._. Pierce Oilpf ____ Pierce Petroleum _ Pillsbury F1 (1.60) . Pitts Coal ___ Pitts Coal pf _ 5 Pitts Screw & Bolt_. 11 Pitts Steel pf 20s Pitts United Corp__ 3 Pitts United C pf. Pitts & W V. Pittston Co Plymouth Oi Poor&Co (B) . _. Porto R Am Tob(B) Postal Tel&C pf (d) Pressed Stl Car (d)_ 61; Pressed Stl C pf (d) 42% Proc & Gambl (134) 20% Pub Sve N J (2.40)_. 34 Puliman Inc (3) 57 Pure Oil __ 49% Pure Oil 8% pf_ 8% Purity Bakeries (1) Market steady. Prices 16a1% 20% 19% Rloominzdale nf(7) Boeine Airplane «~ Bohn A'lnm &Br (3) Rorden Co (1.60) Borg Warner (115)_ Roston & Maine 2 Bridgep’t Brass 40¢ 2 RBrisgs Mfe (2) 23'x Priggs & Strat (3) __ 30% Bristol-Myers (+2). 3613 Rklyn-Man Tr (3) _ Bklvn-Man T pf(6). Bklyn & Q pf (2) RBklyn Union Gas(5) 2% Brunswick-Ralke 4% Bucyrus Erfe 2 /1% Ruevrus Erie cv pf._. Budd(E G)Mfg Budd(E G)Mfg pf : Budd Wheel __ Bullard Co Burns Bro nf (4) Rurr Add Mch (60c) Rush Terminal (4) 19 Rush Term B pf cod 40! 11% Ryers (A M) ___ 32 Byers (A M) ot I+ ++4++4+444 Ayres Paper in Demand. Leonard P. Ayres, vice president of the Cleveland Trust Co., well-known economic analyst, finds great demand for his monograph, “The Chief Causes of This and Other Depressions,” which already has been distributed to about 20,000 persons. In a brief summary of this mono- graph carried in the current issue of the Cleveland Trust Magazine, Col. Ayres declares that the country now is in what he calls the “secondary post-war depression, which involves almost all nations all over the world.” “This i1s the sixth year of this de- pression,” he says, “but it is in the 22nd year of the causes of the depres- sion, for this most serious of modern periods of hard times had its roots in the World War and so its true origins reach back into 1914.” Cycles Linked to Wars. “Great wars,” he says, “appear to produee regular sequences of economic results which we may identify as (1) commodity price inflation, (2) farm prosperity and farm land speculation, (3) price deflatiom and short primary post-war depression, (4) a period of | city prosperity and widespread specu- lation, (5) secondary price deflation and a long secondary post-war depres- sion. “Economic developments have fol- lowed this specialized pattern of move- ment and sequence during and after other great wars, and they have done 80 during and since the World War. “Stability of business activity de- pends on the stability of the funda- mental conditions under which busi- ness operates. This cannot be created by any simple legislative formula. It involves persistent adherence to at least seven national policies; peace, #ound money, balanced budgets, sound banking, the restriction of credit to loans justified by earning power, the restriction of speculation, govern- mental regulation of business to pre- vent abuses, dishonest competition, and exploitation, but not to control ‘wage and price competition or to favor special groups.” Financial District l\oles. Albert H. Gatley, vice prmdent of | Lincoln National Bank, has returned from vacation at Ocean City, N. J. Lanier P. McLachlen, president of McLachlen Banking Corp., is on vaca- tion in New England. Charles H. Doing, president of the Bankers' Association, presided at the regular Friday luncheon of the or- ganization at the Willard Hotel, for the first time since his return from vacation. Mr. Doing recently was pro- moted to be first vice president of the ‘Washington Loan & Trust Co. Y. E. Booker is on vacation, visiting George Hewitt Hyers at Watch Hill, R. L R034; expenditures balance. 31,49 44 ceipts for the month, K. Receipts for 114 Vanadium Corp __ 11'% Van Raalte (a25e)_. 34 Vick Chem (12) 2's Va-Car Chemical Va-Car Chem 6% pf Va El & Pw pf (6) 1 lflfl 2 951 R R4 67y 6%, +11 | 4 4+ W ah:sh [C 3. bash pf A (d) __ Waldorf Sys {b20c) Walgreen Co (1.49). Walworth Co... Ward Baking (B)__ Warner Bros Pic._ _ 2 Warner Bros Pic pf Warner-Quinlan___ Warren Bros Warren Fdy&P (2)_ Wesson O&S (150¢) West Pa Elec (T)A West Pa Elec pf (6) West Pa Elec pf (1) 2 West Pa Pwr pf (7) Western Maryland_ Western Md 2d pf. 1314 2614 = 5% 22w 1 241y 67 i 4 * NEW YORK B‘ANK STOCKS NEW YORK. August 10 ~New York Sec Ass 13% 30s 59% + % 4 Hall W F Printing_ 101 Hanna (M A)pf(7)_ 16 Harbison Walk (1). 513 Hat Corp of Amer. 1% Hayes Body : 3 3 3 4 11 Hercules Mot (60c). 734 Hershey Choc (3) 5% Holland Furnace __ 6% Holland & Son (50c) 307 Houd-Hersh (215) A 615 Houdaille-Hersh B_ 9'x Houston Ol ____. 12 Houston Oil (new) .. 43 Howe Sound (3) _ 2% Hudson & Manhat__ 615 Hudson & Man pf__ 61 Hudson Motor Car_ % Hupp Motors & T | 108 245 12 374 25' 813 14'5 11 6y 6'x % 304 California Pkg(1%) 1, Callahan Zine 2 Calumet & Hecla 713 Campbell-Wy a40e _ 84 Can Dry G A (40c)._. 9% Canadian Pacific 20 Cannon Mills (2) _ 3215 Cap Adm pf A (3) 45% Case (J 1) Co 3615 Caterpillar Tr (1) 19'; Celanese Corp 1% Celotex Co (d) 2214 Cent Aguire (115) . 34 Central RRof NJ_ 1 61 Century Rib Mills _ 3 28% Cerro de Pasco (4) 23 ertain-teed Prpf_. 37'% Ches & Ohlo (2 80) 36 Chesapeake Corp(3) % Chi & Grt West (d) . 15% Chi Mail Order (+1) % Chi Mil SIP&P (d)_ % Chi M StP&P ot (d) 1% Chi & N W (4) 3% Chi & N W pf (d) 4% Chi Pneumatic Tool 20 Chi Pneu Tool pf 1% Chi R 1&P 69 pf(d) 1% Chi R I&P 7% pf(d) 2515 Chickasha C O (2) 315 ChildsCo .. 31 Chrysler Corp (t1). 16 City Ice & Fuel (2)._ 87 City Ice&F pf(6%) 31 City Stores 275 Clev Graph Br (11). 41617 Coca-Cola (8) 53% Coca-Cola A (3) ___ 36 +1% I+ 1 ++ 4441 512 Ty | Birst Boston Cor | First National Guaranty Tr Trust Vestern Pacific pf. Western Union __ West'gh'se A B 50c_ Westinghse El as0c West'h'se 1st pf 313 Weston Elec Inst__ Westvaco Chi "40c) Wheeling Steel _ _ Wheeling Stl pf(31) White Motor White Rk M S(1.40) White Sew Mch pf Wilson & Co (azic) Wilson & Co pf (6). Woolworth (2.40) __ Worthington Pump. Worth Pump pf B__ 537 35': Wright Aero 42 18% 1% 3% 56 51 I1+1+1 4+ 14% 4 Radio Corporation 50 RadioC'ppfA (3%) 35 RadioCorppf B _ 1'4 Radio-Keith-Or (d) 16'; Raybestos-Man (1). « Reading (2) 3'x Real Silk Hosiery_. 20'« Real Silk Hose pf__ 7 Remington-Rand 71% Remington-R 1st pf 70 Remington-R 2d pf. 214 Reo Motor Car. - 9 Republic Steel . _ 28% Republic Steel pf. 28 Republic Stl pf cod. 75 RevereCé&B pfe___ 17's Reynolds Metals (1, 101 Reynolds M pf (514 12'4 Reynolds Sp (t40c) 43's Reynolds Tob B (3) 91: Royal D al.70 1-10c, 6% 6215 641, o +++ 1 Money Available At 5v4% and 6% —for First Mortgage Loans on residence or small oroper- ties Building loans ¢ sidered. Charges rnsonlbm m. T. Ballard 1221 Eye St. N.W. 17% 23% 913 I1linots Central _ 15 Illinois Central pf__ 2315 Indus Rayon (1.68). 6015 Ingersoll-Rand (2).- 46% Inland Steel (2) __ 215 Inspiration Copper.. 8% Interboro R T (d) 1% Intercontl Rubber... 4% Interlake Iron 5 2% Int Agricultural ... 2u 42% 26 Int Agricul pr p! 2% + U | 1847 149% Int Bus Mach (16) . 26% — % | 6% 3% Int Car'rs Ltd (20c) 4% + %| 33 22% Int Cement (1) 62 4+ %| 53K 344 Intl Harvester(80c) 19 4 %| 4 1% Int Hydro Elec (A). 88 —1| 29% 22y Int Nick(Can)(60¢c). 4% + % 1% 4 Int Paper & Pw (B). 33% — 13| 12% 415 Int Paper & Pw pf_. 22814 + % | 2814 21'2 Int Print Ink (1) __ 57 +1%| 106% 98!; Int Print Ink pf (6). 15% Coleate-P-P (50¢)_. 15 17'¢ 17% 174+ % | 1815 9% Int Ry C A pf._. 9 Collins & Afkman _ 12 26% 25'% 2515 — %[ 3614 29 IntSalt(134)_____. 69% Collins & Aik pf (7) 140s 100 100 100 48 42'% Int Shoe (2) cceaeu-. % Colo Fuel & Ir «d) .. 1 28 28 16 Int Silver 5 ColoF & lpf ) 208 flv, 131 11% 5% Int Tel & Tel 10%¢ 3% Col Gas & Elee 232 11 108 15 8% Intersttae Dep 81 34% Colum Plcvte (41)_ 2 77 T6k 847% 70 Int Dept Strs pf (7). 94 67 ColumCarbon (4).. 2 92 92 15‘, 6% Intertype (az0e) - 534 39% Comel Credit (2) _. 10 53% b53% 36 25 Island Creek C (2).. 116% 112 Comel Cred pf(5%) 2 119% 119% 65% 3815 Johns-Manv (a50c). 11 73% 50 Jones&Laugh?%pf 450s 8% 3% KansCity Southn._ 1 71 Kaufmann D S(80c) 13 15% Kayser(J)&Co(50c) 8 56Y% Comcl Inv Tr (t2) . 98% Com I T cv pf(4%)_. 175% Comel Solv (t60e) . % Kelly-Spring T (d). 62 6 Kelly-ST6% pf(d). 18 6 Kelsey-Hayes (A).. % Comw & Southern 2914 Comw & Sou pf (3 3% Kelsey-Hayes (B).. 12 Kelvinator (150¢) 27 Congoleum-N(1.60) 13% Kennecott C (60¢) ... 9 Congress Cigar 23% Conn Ry&Lt (4%5) . 23 Kinney (G R) Copf 130s 2 Kresge Dept Strs 2 3% Consol Film - 14% Cons Film pf( 31“) 15% Consol Gas N Y (1) 42 Kresge Dept Strs pf 50- 19% Kresge (S 8) (1) 113 103 Kresge (S S)pf(7).. 72:5 Consol Gas of (5) 4 Consol Laundries 81% 224 Kroger G&B (1, 26 6'& Consol Of1 112 108 Consol Oil pf (8)_. 1% 13 Consol Textile 13% &% Container Corp (A) 281 12% 173 124 ++ o+ 4+ 9% + % 24% 17% Yale & Towne (60c) 434 +1 4% 2% Yellow Truck .. .. 32% 18 Young Sp& W (t1). 26% 13 YoungstownS & T- 4% 2% Zenith Radio._ 4 4 4% 1% Zonite Products. 2 3u 3 Approximate Sales of Stocks on the N. ¥. Stock Exchange. 11:00 A.M.. . 590,000 12:v0 Noon. « 1,200,000 | 39% +1% 2 ividend rates as given in the above tabi re the annual “é" e e T D e varierly o balt yearty 20— Y%/ declarations s Annun rae 24 4 34 26% 24+ | 4%+ | 35 +1% 26% +1% | 4 %—-% 35 26% We Will Make First Trust Construction Losns on Residential Properties. Action on Avn)lullo- 14 55 3 44 5'/2% Real Estate Mortgage and Guaranty Corporation Safeway Stores (3) 16 39% 387% 114'3 110 Safeway Strspf (7) 110s 112% 112 21% 10% St Joseph Ld (40¢). 8 20y 20 2 % StL-SanFran(d).. 3 1% 1% 213 1 StL-SanFrpf (d). 1 1% 1% 11'x 6 Savage Arms__ 2 10% 10% INSURANCE STOCKS s NEW YSQR% AulA\ll‘ 11"“IM .—New York ecurily Dealérs Assoclal N, Bid. Asked. 93 Y98 Aetna Caus (2'% Aetna PFire (180 Aetna Life (60) Asricultural ) 3% 3 2281 228% 557 b5 1% + Unit of trading less than 100 shares. Toe ¥ Bl iy Sba ¥ ATAIS aied dividende. s Paid this 7 : st Sear o' Gompanies reporied tn” receivership or being 10% Teorsanized x Ex dividend. FEDERAL LAND BANKS LaNFY, YORK Ausust 10 (P.—Federal i Bid. Asked. 101%a 103 7 = 1610 K St N.W. _ Phone Nat. 1108 1011 51y 2819 ing bulk native lambs. £.75a0.00, with moderate_to light sorts: week's Westerns mostly 8.75 down: | above: | gwes ciosin ljeht-weight eel leck choice, 77-pound Washington Xeedm( on closing day. ogs. ' 2.590. _including market lajgely nominal; ene load zood, uumned —OFFICES— SAUL BUILDING 925 15th ST. N.W. Ideal location, opposite McPher- Square: elevator building, we under constant supe: native _throwouts, yearhin 0 ker: took | mones idover. 500. — BALTIMORE STOCKS Special Dispatch to The Star. BALTIMORE. August 10.— STOCKS. Hi Sale: igh. Lo 500 Krundel” Corp g0 T, e 452 B S e (R 2 e Sty SeiEnt 368 New Amster {5078 Rae & & y Altomentie (1) = Balt Amer (.208) - Boston (18) Carolina (1.20a) City of N Y (1)_ Somn’Gen Lt (507- Fld & Dep (2). Firemen's Ins Frank Fire (1.15a 923 15th ST. N.W. ELEVATOR SERVICE 614 SQUARE FEET. $50.00 1621 CONN. AVE. N.W. 3 rooms. suitable for prof purposes; elevator _service. RENT—$65.00 —STORES— 1621 CONN. AVE. N.W. Ground floor _storeroom. heat furnished; approximately 800 square feet Rent—$80.00 CHICAGO LIVE STOCK. GmCattle. 900: CHIUAGO. Aumust 1:: e SOt v e eariings 2 cents hig e :5‘.«’. Ysad0 cents up. mid- Gie grades yearlings and light ‘Sieers gain- ing most; runs acutely small. the nmn stimulat clopn- un Erassers, 8 ' 100% 100\§ % 4 8% 8% 4 109% 109 2 L) 10% 8 STEEL ORDERS PENDING. NEW YORK, August 10 (#).—Steel circles estimate that there are between 18,000 and 20,000 tons of steel under inquiry at present in connection with dam work in Iowa, Illinois, Oregon, California and other States. e s e HEADS RADIOMARINE CORP. NEW YORK, August 10 (#).—Charles J. Panuill was elected president of the Radiomarine Corp. at the regular meeting of directors. 1y 1% ll‘ s TOBACCC FUTURES. NEW YORK. Aurust 10 (P.—Tobacco fulires cloced steady e, 1760 184 Tes. 10| 9 4% Contl Baking (A)__ 1% % Contl Raking (B) 914 62% Contl Can (2.40) 11% 7 Contl Dia F (a30e)_ 113 41% 28% Contl Insur (+1.20) 414 1% % Contl Motors 1 23 15% Contl O Del(a37%¢) 21% 5914 * 41% Corn Ex BK&Tr (3) 585 78% 62 Corn Prod Ref (3) 07 6% 4% Coty Inc % 44 39% 357 Cream of Wh (12)_. 38 16% s Croaley Ba Bad (ako). 36 231 Crown C&S 47% 43% Crown C&S n!(l.") e rlings. 10.75; lots to 11.25: all sl ock unevenly 25a50 cents up.” meny lmle grassy and rmed-up earling tvpe neifers showing more upturn; cutter cows closed af 4.50; cows. 5 oou 00: to 8.5¢ bul vnlen fin 5 r.en".la higher at 6.35 975 down, rum for :5& ended "m.l 000 180 iracter compared Friday iast week. | NEW YORK, August 10 (P—A fat lambs and vyearlings fully 25 cents rather good buying movement has Tiree: week's Jamb 1op. 'u"“"' been getting under way in the heavy Callfornias; - butwutlm slso_ fof 1imite ¥ S M 1 86% 12 LacledeGasStL._. 108 11.95; 22% LambertCo (3) __ 12 813 Lee Rub&Tire (50¢) 10% Leh Port Cement_ . 5% Lehigh Val Coal pf_ 5 Lehigh Valley RR. - 67'% Lehman C (12.40) __ 10% Lehn & Fink (1%) . 21% Lib-O-Ford G1(1.20) 21 Life Saver (1.60) 93% Ligg & Myers (14)B 243 Liquid Carb (1) v Close. 17.80b 18.300 September 1616 K ST. N.W. Bright: b—Bid. Ground floor. heat furnished; approximately 1,100 sauare feet, RENT—$90 17.90 = 1840 No A552 2R mi Fich et B. F. SAUL CO. National 2100 925 15th Bt. NwW.