Evening Star Newspaper, November 16, 1935, Page 16

FINANCIAL. THE EVENING STAR, WASHINGTON, D. C, SATURDAY, NOVEMBER 16, 1925. FINANCIAL. LOSS OF SAVINGS ITRANSACTIONS ON THE NEW YORK STOCK EXCHANGE] ACCOUNTS FEARED A.B. A. Leader Sees Danger in Unattractively Low Interest Rates. BY EDWARD C. STONE. Fear that present low rates of in- terest paid savings depositers may end in driving these deposits into other forms of investment such as| building and loan associations, was expressed by T. J. Caldwell of Hous- ton, Tex. president of the savings division of the A. B. A, at the New Orleans conclave. He also added his opposition to the Postal Savings Sys- tem. His views made a great impres- sion on the savings bank men every- where who have been doing a lot of | serious thinking along this same line. | “Developments of the year have brought a feeling on the part of bank- ers interested in the savings business that savings will eventually be driven away from banks into other types of financial institutions by.lack of flex- ible interest regulations and through competition by other institutions offering higher rates of interest,” he said. “The present tendency in the regulation of interest rates is to dis- regard the type of assets held by the banks. He called attention to the vast amount of money held in the mutual savings banks in the Eastern part of the United States, how much can be fnvested in mortgages and to the fact that in many instances savings funds mre comingled with commercial bank funds. Naturally, the returns on this type of business are low. To protect the banks able to pay only a very low rate of interest, regulatory boards have set the maximum interest rate at a low figure. Higher Rates Essential. “In the long run” the added. “if banks having 50 to 70 per cent of their assets invested in good mortgages at rates from 4 to 5} and 6 per cent, are not permitted to pay a commensurate rate for savings, com- peting agencies will drain them of sav- ings deposits. Regulations may prove | effective in destroying among banks, but regulations will not serve to bring customers into banks, and after all, the money deposited by customers is the life-blood of the in- stitutions. “The subject is one of wide ramifi- cations, requiring thought and study. Its solution may well be the answer to many of our recent banking troubles, growing out of the hybrid character of our banking system—a system under which we have failed utterly to | distinguish the different kinds of de- posits and to permit such depcsits to perform the functions to which they are adapted. “Commercial deposits are credil growing out of the activities of busi- | ness, and should be used exclusively in furnishing the short-term bank credit necessary to the production and distribution of goods and services. exeess of income over expenditures on the part of the people. function is to meet the capital needs of the community. They can be safely invested in much longer term and slower assets than can commercial deposits, and they are entitled to a much higher return,” the banker as- serted. Postal Savings Attacked. Bankers have to stand for a good | deal of criticism for opposing postal | savings. Their opposition has been called grasping. Mr. Caldwell gave a particularly clear expose of the bank- ers’ viewpoint when he said: “A great menace both to banks and to the progress of communities exists in postal savings—that of syphoning money from areas where it is most needed both to msure the permanence of banks to the community and to form a backlog of funds for com- munity development. “The Federal Reserve Bulletin of | October, 1935, indicates that postal | savings as of the end of May, 1935, amounted to $1,237,000,000. Of that amount, according to the Bulletin, only $412,000,000 was redeposited in banks. The rest, over $800,000,000, had been taken out of the various communities and sent to Washington for investment. “In some States, from one-third to | one-half of the time and savings de- posits are in postal savings, with only a small percentage redeposited in the banks of that area. It seems waste- ful for the funds needed in the help- ful development of a State to be syphoned to Washington by one agency, later to be returned, and at considerable expense, by other Gov- ernment agencies. “At present, the rate established by the trustees of the Postal Savings System, the Posmaster General, the Becretary of the Treasury and the Attorney General, and charged banks on postal savings, equals or exceeds the miximum rates permitted by the Federal Reserve Board on savings de- posits in banks. The rates are also higher than are yielded by the short- time obligations of the Government itself.” Financial District Gossip. J. G. Hopkins, Washington repre- sentative of the Lincoln National Life Insurance Co., held fifth place in vol- ume of paid-for business in October, according to word received here from his home office in Fort Wayne. This achievement means national recoghi- tion for Mr. Hopkins’ ability as he won his place in competition with more than 1,500 other salesmen, the com- pany adds. Norman E. Towson, usistant treas- urer of the Washington Loan & Trust Co., and manager of the foreign de- partment, is spending much of his time these days at the court house as foreman of the grand jury. He declares it is easier to figure all kinds of foreign exchange :n American dol- lars than it is to get at the inside of many of the complicated cases pre- sented to the grand jury The next convention of the Ameri- can Bankers’ Association is unofficially scheduled to be held in San Francisco. ‘The decision probably will be an- nounced formally after a meeting of the Administration Committee this Winter. The Chesapeake & Potomac Tele- phone Co. is distributing a booklet on “The Early Corporate Development of the Telephone,” written by William Chauncey Langdon, hislorical libra- rian of the American Telephone & ‘Telegraph Co. According to a decision rendered by the Supreme Court of the United States, a corporation which has bought & stolen bond in good faith is not obliged to return it to its owner. 175 TONS OF LEAD SOLD. NEW YORK, November 16 (#).— The St. Joseph Lead Co. reports that 175 tons of pig lead from Southeast Missouri mines were yesterday at $4.35 per hundred pos St. Louis. speaker | competiton | On | the other hand, savings deposits are|} investment funds growing out of the | Their proper | | ~- 1935 — Stocl High. 50 4% 3015 173 168 2814 6234 96 By 'rlvnu wire Ilnd to The Star. K ana 1:- Dividend Rate. 51 Acme Steel (12)__.. 41 Adams Express 28 Adams Millis (2)___ 8 Addresso M (a30c).. 4'3 Advance Rumley .. 615 Affiliated Prod(60c) 1043 Air Reduction (13)_ % Air-Way Elec Appl. 13% Alaska Jun (160c).. 3 Alleg Corp (d) 2% Alleg pf w$30w (d). 1% Alleg pf xw (d) 6% Alleg pr pf (d) 21 Allegheny Stl (1) l"% Allied Chem (6) 3% Allied Stores - 49 Allied Stores pf (5). 12 Allis-Chalmers 14 Alpha Port Cmt (1). 214 Amal Leather 485 Amerada Corp (2) __ 41'%2 Am Az Ch(Del)(3)_ 13! Am Bank Note 21 Am Brk Shoe (1) __ 119 Am Brk Shoe pf (7). 110 Am Can (t4) < 151% Am Canpf (7). 10~ Am Car & Foundry_ 514 ar & Fdry pf__ 66 Am Chicle (13)._ 23, Am Colortype tal Sugar S 1st pf(6) i Am Encaustic (d) _ Am & Foreizn Pwr_ 2 Am& For Pw $6 pf_ 14 Am & For Pw §7 pf. 374 Am & For Pw 2d pf 3 Am Hide & L (new) 28 Am Hide & L pf (n). 29'C Am Home Pr (2.40). 4 Am lce 3 44 Am International 9 Am Locomotive __ 32 Am Locomotive pf_. 18‘ Am Mch & F (180c). 4 Am Mch & Metals__ 13 ;‘ Am Metal - 1'% Am Power & Ligh 8% Am P&L $5pf(al1%) 10's Am P&T, $6pf(allz) 10'; Am Radiator 15% Am Roll Mills a30c 66 Am Safety Raz (5)_ 4'3 Am Seating vte .. "l % Am Sm & Refininz__ Am Sm. &T‘P( of (7). Am Snuff ¢ 3 Am Steel F Am Sumat Tob (1) 7« Am Tel & Tel (9)-_. Am Tobacco (5) Am Tobacco(B) (5)_ 2 Am Type Fdrs (d).. Am Type F pf (d) - -7t Am Wat Works 475 Am Woolen < 35': Am Woolen pf __. %y Am Writ Pap (d) Am Zinc & Lead & Anaconda Copper. 164 Anaconda Wire Anchor Cap (60¢c) Archer-Dan-M(f1)_ Arch-Dan-M pf (7). Armour Del pf (7). Armour of Ilinois . Arm'r(I1)pr pe(6) - Armstr'g Cork (1) Arnold Constable Asso Dry Goods Asso D G 2d pf % Asso Oil 2 Atlantic Coast Line Atl Gulf & W Ind At] Gulf&W Ind pf. Atlantic Ref (1)_. Atlas Tack uburn Auto Austin Nichols____. 4« Aviation Corp(Del) : Baldwin Loco (d) Baldwin Loco pf (d) Baltimore & Ohio _ 91% Baltimore & Oh pf . \ Bang & Aroos (215) 201 “106' Bang & Aroos pf(7) 89%% 247 5% 26% 31 295 19% 41 31 Barker Brothers 1 Corp 160c 2 BayvukCigar (1) Beatrice Cre (a50c) 4 Beatrice Cr pf (7) - 111 "% Bendix & Beneficial Lo (1 34 Best & Co (2) 21% Bethlehem Steel i Beth Steel pf (:33%) S 6% Boeing Airplane % Bohn Alum & Br (3) 38% Bon Ami (B)(+2) 21 Borden Co (1.60) 2814 Borg-Warner (2) 812 Bridzep’t Brass 40c "4' 2 Briges \lf" (12) 814 3% Budd(EG)Mfs . Budd(E GyMfgpf_. 212 Budd Wheel .- 814 Bullard Co 3% Bulova Watch __ 1; Burns Bros (A)(d) - 3 Burns Bros pf (4) 13" Burr Ad Mch nfirnc) 1'» Butte Copper&Zzinc.. 4 Butterick Co (d) - 11% Byers (A M) 32 Byers (A M) pf_ 301 California Pkg(1%) 215 Calumet & Hecla _. 713 Campbell-Wy (1) 814 Can Dry Gin Ale 87 Canadian Pacific 30 Cannon Mills (2) .. 45% Case (J 1) Co 1: Case «J T) Co pf(4)- ‘aterpillar Tr (11)- 191 Celanese Corp 221, Cent Aguire (1%) 61 Century Rib Mills . 38% Cerro de Pasco (4) .. 3% Certain-teed Prod .. 23 Certain-teed Pr pf. 4% Checker Cab Mfg _. 371 Ches & Ohio (2.80) 36 Chesapeake Corp(3) 4 Chi & East I11 pf (d) 5 Chi & Grt West (d)_ 15 Chi & Grt W pf (d) - 15% Chi Mail Order (t1). 1 Chi Mil StP&P (d) . % Ch! M StP&P pf (d) % Chi & N W (d) 3% Chi & N W pt (d) . 45 Chi Pneumatic Tool % Chi R 1 & Pac (d) 1% Chi R I&P 7% pf(d) 25 ChickashaCO (2)-. 315 Childs Co 31 Chrysler Corp (3) __ 12 City Ice & Fuel @)> 314 City Stores 124 Clark Equip (80c) .. 20 Cluett Peabody (1)~ 1617 Coca-Cola (8) - Coca-Cola(new)w i_ 15% Colgate-P-P (150c). 9 Collins&Aik (a50c). 69% Collins & Aik of (7). 1 Colo Fuel & Ir (d) _ 5 Colo F & 1 pt () 7 Colo & South 1st pf_ 3% Col G & E (a20c) 35% Col G & E pf (A)(6) 67 Col Carbon new (t4) 391 Comel Credit (2%) les— Add 00. High. Low. Close. cnn Abr & Straus(11.20) 20- 50 119% 110 Comecl Cred pf (51) 72 56% Comel Inv Tr(+2.80) 115% 111 Comel 1 T cv pf (6). 977% Comel In T pf (4%) 161 Comel Solv (160c) % Comw & Southern _ 29% Comw & Sou pf (3). 57% Conde Nast Pub 27 Congoleum-N(1.60) 16 ConmR&L - 7 Consol Cigar. - 69 Con C pr pf ww 6% 3% Consol Film _ 14Y% Cons Film pf 1%) 15% Consol Gas N Y (1). 7214 Consol G N ¥ pf (5). 1% Consol Laundries. 6% Consol Oil (a25c) % Copsol Textile . 8% Container Corp (A). 27 Container Corp (B). 4% Contl Baking (A) . 5 Contl Baking (B)._. 46% Contl Baking pf (4). 62% Contl Can (3) = 7 Contl Dia 1.05 28% Conr.l uu 11.20, 50 4% T4% 9% 9% 34 34 19% 19% 18% 18 % % 11&‘):4 169% 19% + % 18 +% 7% 170% +11% 1% 15% 2 + 5 g 203 + 14 16475 +1% 4 1261% R+ % 3% 363 + % T4 —1% 51% — % 45% — % 80’. B l1 121 + +4 1+ N0 b S0E Bha23. w®d ‘a0 CANDASNBL WA DA 2290 200 290 +5‘- 73% 3% +_ % 18% 18 +'% 38% 381 80s 107% 23 4 21% 46% 110 62 61% 112 112 112 101 100'& 101 . ~—- 1935 — High. 2 27% 604, 78% 6% 39% 17% 15% - 114 1437 741 4{' ‘.(!' 23% 3 1% 5 103 122 104 Stock and Low. Dividend Rate. % Contl Motors 15% Contl O Del a62%c 41% Corn Ex BK&TTr (3) 60 Corn Prod Fef (3).. 4% Coty Inc __ 357 Cream of Wh (12)__ 11% Crosley Rad (a25c) - 231 CrownC & S (t1)__. 315 Crown Zelleb’k vte 14 Crucible Steel 47% Crucible Stl pf $50c. 1 Cuba Co 514 Cuban-Am Sugar 401 Cuban-Am Sug pf.-. 39% Cudahy Pkg (233) . 15 Curtis Publishing.. 891 Curtis Pub pf (7) Curtiss Wright % Curtiss Wright (A) 22% Deere & Co . 19 Deere&Co pf(11.10) 2315 Delaware & Hudson & West 11 Det Lack , 114 Den&RIoGWp f (d) 2 Det & Mackinac 35% Devoe & R (11)(A) 2615 Diamond Mtch t13 343 Dia Mtch pf (t1%)_ 3414 Dome Mines (+2) 6% Dominion Stores 17% Douglas Air (a75¢). i Dresser M A(b113)_ % Dresser Mfg B ___ i Duluth $ S & Atl___ 2 Dunhil Internatl _ Duplan Silk pf (8) Du Pont (3.60) 3% Eastern Roll Mills_. l‘urlflcP\\&L! - 215 Elec Pw & 1.t $6 pf_. 3 Elec Pw & Lt §7 L Mo caal e Horn C pf (d) 52% Endicott-John (3) __ 14 EnzPub rie R I 1st pf_ rie R R 2d pf ans Products (1) xchanze Ruffet rbank airbanks Co pf airbank Fed Motor T (a10c). ~Fed Water Sve (A)_ 6'x Fed'd D Strs (160c) Fid Phoe F 1(11.20) < Firestone (40c) _ Firestone pf(A) (6) First Nat Strs (232) Florsheim (1)(A) Follansbee Bros (d) Food Machine (1) __ Foster-Wheeler FourthN1wwall0 Frank Sim pf(51,) 171 Freeport-Texas (1) 15 Fuller Co pr pf 4% Fuller Co 2d pf-.. . Gabriel Co (A) cn Am Investors Gen Am Trans(1%) Gen Asphalt (a2ic) Gen Bakinz (60c) - « Gen Bronze n Cable n Cable (A)_. Gen Cable pf 84 45 l" 201, n Mills (3) Gen Motors (12) __ en Motors pf (5)_ " Gen Outdoor Adv Gen Outdoor Adv A p Print Ink(1.60) n Print Ink pf(6) % Gen Realty & Util % Gen Real&U pf ww efrac (a50c) asting pf imbel Bros imbel Bros pf__ % Glidden Co (1) 1047« Glidden Co pr pf (7) 1« Gobel (Adolf) (d)_ 14% Gold Dust (1.20) ___ 713 Goodrich (B F) 40 " Goodrich (B F) pf_. 15% Goodvear T&R 212 Gotham Silk Hose. 1% Graha 5% Granhy Consol 21, Grand Union __ 1814 Granite City Stl (1) 2 ranite City S rets 9% Grt Northern pf _ 9% Grt North Ore (50c) 26% Grt West Sug (2.40) 119 Grt West Sug pf(7) 201: Grevhound Corp 19 Guantanamo Sug pf 4 Gulf Motile & N 12 Gulf States Steel ___ 6'2 Hamilton Watch 63 Hamilton Watch pf. 16 Harbison Walk (1) 1% Haves Body 85 Hazel Atlas Gl (J) - 11 Hercules Motor (1) 71 Hercules Pwr (13) Hercules Pw pf (7). 73% Hershey Choc (3) . Hershey C pf (14)__ 5% Holland Furnace 6% Holland & Son (50¢) 38 Homestake (112) _ 6': Hond-Hersh B (1) 1': Houston Oil (new)_. 43 Howe Sound (13) 6't Hudson Motor Car. 2 Hupp Motors _ 913 [linois Central 15 Illinois Central pf 40 11l Cent Ise lines (4) 2% Indian Refining - 2315 Indus Rayon (1.68)- 60': Ingersoll-Rand (2)_ 46Y Inland Steel (12) 21 Inspiration Copper 4 Insur Sh Md cfs 15¢ 8% Interboro R T (d) _ 11; Intercont] Rubber._ Y% interlake Iron __ 254 Int Agricultural 187 149% Int Bus Mach (16).. 7% 367% 65% 152 4% 62 3814 135 35 Int Car'rs Ltd (20¢) 227 Int Cement (1) - 3414 Int Harvester (60c) Int Harvester pf(7) 1% Int Hydro Elec (A)- 17 Int Merch Marine _ 22 Int Nich Canta7sc). 1'% Int Paper & Pw (A). a4 Int Paper & Pw (B) 75 Int Paper & Pw (C). 415 Int Paper & Pw pf__ 2115 Int Print Ink (1.40). 9815 Int Print Ink pf (6). 251 Int Salt (1%) 16 Int Silver 60% Int Silver nf (4)- 5% Int Tel & Tel = 874 Interstate Dept S| 76% Int Dept Strs pf (7). 6% Intertype (a40c) __ 381 Johns-Manv (a50c) Sales— Add 00. High. 1% 28% 60% 73 5% 6014 3 5% ER=t<v PPN o J+ 141018114+ S PRI, 3. 34 l.a' Clone Ch" Zflh +1% +% e e o - ARARAT SRR NS RN e 3 18 50 Jones &Laugh7%pf 500s 4 6% Kans City South pf_ 7% Kaufmann D S(80¢) 15% KayserJ&Co(al.15). 6 Kelsey-Hayes (A).. 3% Kelsey-Hayes (B) 10% Kelvinator (+50c) 13% Kennecott C (60c) 2% Kinney (GR) Co._- 23 Kinney (G R) Co pf 19% Kresge (SS)(1) __. 113 103 Kresge (S S)pf(7)_ 80 36% 56% Kress (SH)(11) _.. 22% Kroger G&B (1.60) . 12 Laclede GasStL. 19Y% Laclede Gas pf 213% Lambert Co (2) _ 8% Lee Rub&Tire (50c) 10% Leh Port Cement__. 1% Lehigh Valley Coal 5% Lehigh Val Coal pf_ 5 Lehigh Valley R R_. 67% Lehman CA12.40) . 10% Lehn&Fink Prod (1) 6% Libby McNeill & L 213 Lib-O-Ford G1(1.20) 21 Life Saver (1.60) ._. 94% Ligg & Myers (14)- 15% Lily Tulip Cup(1%) 13% Lima Locomotive__. 17%4 Link Belt (80¢) .- & 24% Liquid Carb (11)ee o BB RANBRAR D 2 llfi% 115% T8 .30% “% lflx— EREEFFEE F & H‘# o~ 1935 — Stock and Low. Dividend Rate. 1% Loew’s Inc (2) 1 LoftInc . 1% Long Bell Lum (A)- 33 Loose-Wiles (2) _. 18% Lorillard P (+1.20)_ 2614 114M 124 Lorillard P pf (7)_- 2% 67 58% 3% CHICAGO LIV'E STOCK. stee hlm’efin llncl .hme, best light steers 13.45: arlings 17 all re unnuuu weights wer-gra markel very uneven, Seapbesion stee up and snan.- down to 7.00 a d “tat 2 % La Oit Ref (d) 10% Louisv G&EpfA 11 Ludlum Stl pf(6% 7 McAndrews&F(12) . nd & F pf (6) McCall Corp (2) McCrory Stores (d) feCrory Strs B (d) McCror' s f (d) McGraw Hill Pub Melntyre Porcu(2) TcKeesport T P (4) McKesson & Rob. . McKesson & Rob pf. TcLellan Stores Mack Truck (1)_ Macy(R H)& Co(2). Magma Copper (2)_ Manati Sugar (d) Man El md gtd (d)-. Manhat Shirt (60c) aibo Oil Exp i Marine Midld (40c) t Ry pr pf Martin Par Mathieson Al 13 Mathieson pf A Alil\ Dept Str (1. GD) & Co nf ww 1715 = 1st pf (6) - Mengzel Co - 1 Co pf Z Machine (2)_ liami Copper 1id Cont Pet (a40c) Midland Steel Prod - Midl'd Stl 1st pf(8) Minn Hon R (3)___ Minn Moline Pwr oline Pwr pf M St P&S Mission Co To Kans & Texas _. o Kans & Tex pf Mo Pacific (d) . ... : Mo Pacific pf (d) Mohawk Carp (1) fother Lode fotor Products Motor Wheel (60c) - Mullins Mfz t Dept Stores (d) trpf (d). .mm\-ro of. Tea (60¢) Natomas Co (80¢) Neisner Bros (1) Newberry J J(1.60) Newberry J : H f (d) ario & West Y Shipbuilding K& W (48) _ Am Aviation North .\m Co (1) North Am Co pf (3) North Am Ed nf (6) Ohio Ol Oliver Fa Ymnibus Corp vte Omnibus C pf (8) A Oppenheim Collins Otis Elevator (60c) Otis Steel Outlet Co ( Owens-11 Glass(4) Am Fish(azic) cific Coast 1st cific (‘m:r Pacific Mills : Packard Motors Paramount Pictures Param't Pic 1st pf_. Param’t Pic 2d pf . Park ATtah Panyelee Transp't_. Pathe Film Corn : Penick & Ford (3) - Penney J C (2) Penn Coal & Coke . Penn Dixie Cement Penn Dixie C pf(A). Penn R R (a50c) Peoples D Peoples D § : Peoples Gas Chi____ Pere Marquette _ Pere Marquette pf__ 73 Petr C of Am(a33c). 11 Pfeiffer Brew (+1). 12% Phelps Dodge a50c_. 1% Phila & Read C&I__. 5'% Philip Morris (1) ... hillips-Jones C 13% Phillips Petrol (11). 1, Pierce Oil - x 2% Pierce Oil pf = s, Pierce Petroleum _. 31 Pillsbury F1 (1.60)- 7 Pitts Coal 26!4 Pitts Coal pf < 515 Pitts Screw & Bolt § Pitts Steel pf 4 Pitts Term Coal nf_ 4 Pitts United C pf-_. 4 Pitts & W Va_ Plymouth Oil - 611 Poor & Co (B) 15 Porto R Am Tob(A) i Porto R Am Tob (B) 4% Postal Tel&Cpf (d) 6'2 Pressed Stl C pf (d) 423% Proc&Gambl (1113) 20% Pub Sve N J (2.40)_ 62% Pub Sve N J pf (5)_. 29% Pullman Inc (13%)-. 57 Pure Oil 17% 30 108% 17% 914 Sales— Add 00. High. Low. Close. Chge. 52% — % 2% 24 53 52% 6 2% 2% 26 3% 3 2 40Y; 40% 23 26% 26% 20s 1395 139% 1 % % 201 34% Pure Oi1 6% pf-——— 49% Pure Oil 8% pf. &% Purity Bakeries (1) 4 Radio Corporation 50 Radio Corp pf A 3% 35'% Radio Corp pf B 1% Radio-Keith-Or(d) . 1615 Raybestos-Man (1) 297 Reading (2) 3% Real Silk Hosiery. 7 Remington-Rand__. 21% Rem-Rand 5%pr pf. 21 Reo Motor Car_ 9 Republic Steel .. 28% Republic Steel pf_ 78% Republic Steel pf 5% Revere Copper . 13 Revere Copper (A). 17% Reynolds Met (1) __ 12% Reynolds Spring (1) 55% Reynolds Tob (3) 43'% Reynolds Tob B (3) 21% Roan Ant Ltd a76éc.. 3 40% 26% P14+ +Hl+++++41 +4 ¥ 4 Net | — 1035 — High Stock and Low. Dividend Ra 3 Rutland RRpf.___ 31% Sateway Stores (2) 10% St Joseph La (40c) . L-San Fran (d) .. 1 St L-San Frpf (d)_ 8 StL Southw'n.._ 6 Savage Arms henley Distillers hulte Retail Strs Schulte R Strs pf Seaboard Air L (d) Seaboard A L pf(d) ab'd O Del (160c) agrave Corp rs Roebuck (+2) cond Natl Invest Sec Nat Invpf 2 Servel Ine (al23c) aron Steel Hocp Sharp & Dohme attuck(F G)(25¢) ell Union Oil _ Shell Union Oil pf Silver King C (40¢) mmons Co Simms Petr (a50c) - Skelly Ol uthern Railway_. uthern Rv pf._ Spaldinz (A G) ang Chalf pf 133 arks-Withington Spear & Co Spencer Kell (1.60) Sperry vte (a25c¢) .. Spicer Mfg = Spicer Mfg pf (3)_ Spiegel-May-S (3 Stand Brands (80c) Stand Com Tobasco Stand Gas & El (d) Stand G&E $4 pf (4) Stand G&E $6 pf(d) Stand G&E $7 pf (d) Stand Oil of Cal (1) and Oil of Ind (1) and OIl N J (1) . arrett (L $) (1) rling Prod (3 80) erling Seeur pf ewart-Warn 50¢ : Stone & Wehster 21; Studebaker Corp._. 012 Sun 01l (+1) __ 14% Swift & Co (71) 6% Telautozraph(60c) - 4 Tennessee Corp____ 162 Texas Corp (1) Thermoid Co hird Avenue Third Nat In ( < Thompson Prod Thompson Thompson pf__ 7% Tide-Wat Asso Oil merica (30c) Transue&Williams Tri-Contl Corp ____ : Truscon Steel 20th Century Fox 20ih Centary Fox pf Twin City R T Twin Citv R Tof_. Union Carb&C(160) % Union Oil of Cal (1) Union Pacific (6) Union Pacific pf (4) & Un Tank Car (1.20) 97 United Aircraft 12 United Air Line vte 20% United Bisc (1.60) 14% United-Car Fast(1) 46 United Carbon 2.40 1% United Corp 20% United Corp pf (3) 8% United Drug 412 United Dvewood 31, T mled 601 l nmd Gas I pt S Distributing l' S Distributing of psum (+1) psum pr (7) Hoffman ind Alcohol (2) us l,fanv(r (A)vic Realty & Imp S Rubber 3 Rubber 1st pf _ Sm & Ref (a8) Ctil Pwr & Lt (A) 12 Vadsco Sales Corp 19% Vadseco Sales " pf._ 11% Vanadium Corp __ 11% Van Raalte (a30c) Va-Car Chemical 17!: Va-Car Chem 6% nf 72'5 Va E1 & Pwr pf (6) 1% Wabash pf (A)(d) 1 Wabash pf (B)(d) 41X Waldorf Sys (50c) . 261 Walgreen Co $1.30 . 1: Walworth Co (d) - 5 Ward Baking (A) 281 Ward Baking pf (2) A v\arr\.r Bros Pic rner Bros Pic pf % Warner-Quin (d)- > Warren Bros _____ s Warren Bros cv pf . « Warren Fdry&P(1) 30: Wesson 0&S( 34 West Pa Elec (1) 36 West Pa Elec pt(6) 95 West Pa Pwr pf(6) West Pa Pwr pf(7) Western Maryland Western Md 2d pf._ ern Pacific 20'\ Western Union = West'gh'se A B 50¢ 1 % Westingh'se El(al) 90 West'g'se 1st pf 315 10 Weston Elec Ins 16% Westvaco Chl (40¢c) 14% Wheeling Steel 4615 Wheel Stl pf ($1%) T« White Motor 12% White Rk M S(1.40) 1% White Sewing Mch. 6 White Sew Mch pf__ 1 Wilcox Oil & Gas ___ 3% Wilson & Co (50¢) . 58 Wilson & Co pf (6 51 Woolworth (2.40) _ 11% Worthington Pump 512 Worth Pump pf(A) 20 Worth Pump pf(B) 351 Wright Aero S 73% Wrigley W ir +3)" 17% Yale & Towne (60c) 2% Yellow Truck ... 3115 Yellow Truck pf 18 Young Spr& W (2). 13 Youngstown S&T. 1% Zenith Radio 2% Zonite Products. Rights Expire. Bales— Add 00. High. % 343, 234 1% 1% 10 Low. Clese. cnu 4 4 34 34% 224 — 5% + % 14 FEr+t+ + 414+l ++1 01+ % Budd Mfg. Apr.16 10 1% Approximate Sales of Stocks on the N. Y. Stock Exchange. 11:00 AM. ..., 700,000 12:00 Noon 1,640,000 Dividend rates as given in the above table are the ann payments based on the latest quarterly or nalf-yearly decl 5 Upit of trading iess .han 100 shares fAnnual T tAccumulated dividends. a Paid this year. bPaid last d Companies reported in receivership or being reorganized. + % | x Ex-dividend ST+ % fivess 31% 5% 31l n_ hisl g3 and extreme (0D, Welkiy Steers N e mostly 2 closing eithe than early in wee below; cl all o 25, lower: ors'S, ks compr fed oflerlnu ullln( ki 0ice { hl“!rl Mngs 8.25, bulk 6.00a7.25: practical top, | backs” on the shearing order at 0.75 late. selects 10.00, 1 Hogs 3,000, including 2.500 direct: & = week ending Priaay. | {2, S8les stroug to shade, higher than ty and weight con- 1000 girects. ared to Priday last Sldere two | loads and odd lots good and eek: Fat lambs Coround 30 bisher: yesr- 200 9.5089.70; _tol Tines, aged sheep and fee ambs 25- 9.70; good mediumweight sows. . Sued sheep 409, el i fatured prac pe op ot 10 w Dérs took 250; estimated noldover 12:50; | Heany® an Srancnes: iambe hlghm since August. 0 and feeding lambs ll 975 hl n. and on_slaughter ewes. ship- RUBBER FUTURES. NEW YORK, November 16 (#).—Crude rubber futures closed qulet, 4 to 14 lower: “"fie""fl standard, 177 De- ualicy lbernl late ;3?5““ siasintér S ekiings. s wee R0 Bt i T ntive. ewes. - 4. 5025001 211 50: V!‘llrl "5-50 a 25 lower, nui"fl:;- ward STOCKS ARE FIRN AT WEEK'S CLOSE Steels and Specialties Re- main Favorites—Realizing Curbs Some Groups. Stock Averages 0 15 15 Induz. Rails. Uul Net change. +~4 +.2 -+.3 Today, close *75.8 Prev. day... 754 Month ago. 71.0 Year ago_.. 53.2 1935 high__. 75.8 1935 495 1934 614 1934 453 228 242 349 1932 175 8.7 239 169 1929 146.9 1539 184.3 157.7 1927 516 953 618 61.8 (Comoiled by the Associated Press.) “New 1935 high a0 8tks. -3 5.3 55.2 512 393 55.3 3438 514 275433 27.3 43.0 244 384 259 25.0 276 433 185 216 430 406 BY VICTOR EUBANK, Assaciated Press Financial Writer. NEW YORK, November 16.—Steels and specialties were the bullish favor- ites in toda stock market, while pr taking stemmed the advance in !a few other sections of the list. | | | Many new four-year highs were es- tablished during the brief session and realizing sales failed to shake the ma- Jority of the Jeaders. The activity was the best for a Saturday since the Spring of 1934. The close was firm Transfers approximated 1,450,000 es. The ticker tape fell a bit behind floor transactions in the last few min- utes of trading. ill seemed to be under ce of administrative assur- that the “breathing spell” for business will not be disturbed. Commodities were rather a neutral factor so far as equities were con- cerned. Wheat and the other cereals moved a shade in either direction dur- ing most of the day and cotton was unable to do much. New York Cotton e Associated Press. NEW YORK, November 16—Cot- ton futures opened barely steady, 5 to 10 lower on disappointing Liverposl cables and under liquidation and hedge selling. December, 11.88; Janu- ary, 11.78: March, 11.67; May, 11.61: October, 11.3€ was fairly active at ‘he There were scme cvernight selling orders by the South as well as week end realizing or liquidation in response to lower Liverpool cables. At the end of the first hour De- cember was selling around 1188 and May, 1166, or about 5 to 7 points net lower, The early weather map showed cold weather in the West with kill- ing frost at Abilene and light rams in the East It is reported the Chinese crop for 1935-36 is officially estimated at 2,200.- 000 bales against 3,000.000 Jast season. 7all lower. Close. Cottonseed Oil. Bleachable cottonseed oil futures closed steady. December, 10.82a83; January, 10.80b; March, 10.79a80; May, 10.81. Sales, 55 switches. b—Bid. contracts, including 2 US.UNEMPLOYMENT TAX INFORMATION These ‘forms provide for in- formation required by this : ] law. Effective Jan. 1, 1936 An accurate record must be kept by concerns with _eighi Our representatives are application for business fl\ll.?’nemi in order to ize cost of keeping this record. Specialists for Business Records and Equipment Walcott-Taylor Co., lnc. Mills Blde. MEtro. —OFFICES— SAUL BUILDING 925 15th ST. N.W. Ideal location opposite McPher- son Square: elevator building. well kept and' under constant super- vision SINGLE_ROOM TWO-ROOM SU THREE-ROOM 00 1TE, 5 SUITE S 90:00 923 15th ST. N.W. ELEVATOR_SERVICE 614 SQUARE FEET 0.00 1621 CONN. AVE. 3 rooms. suitable for nmltssmnn purposes: elevator —STORES— 1616 K ST. N.W. Ground flo« B. F. SALL Co. National 2100 925 15th St. N.W. NOTICE ‘To_holders of Pirst Mortgage Gold Serial Bonds. Nos. 271 to 1161. in- clusive of total issue of $450.000. se- cured by de!d nl trust dated December 8. 1924, IVERSIDE APART- MENT CORFORATION to-Willam H. West. recorded Liber 5428, folio 103 ‘et sea of the Land Records of the District of Columbia. covering cer- tain property therein described, some- times known as the RIVERSIDE APARTMENTS 2145 C Street N.W. ‘Washington, D. C. The American Security & Trust Comrany, having been substituted as Trus.ee by decree entered by the Su- presie Court of the District 3.2 Cause" No. 5 funds 1n its. poss Dose, on and after December 1. an_ interest mauhmmj on_the above described, from June 1, 3 1935, December 1, 1036. The lawful holders of Colum- Equi unn lor such Dul- Bee of said bonds must present same to the undersigned substituted trustee. at its principal office, Pennsylvani 15th Street and ‘ashing- Avi Nw. n ‘order thn the unyment of 'said ~interest instalment may stamped thereon. AMERICAN SECURITY & TRUST CO.. Substituted Trustee By WM. L. BE Its Vice President. 15th St and Pennsvivania Ave. N.W.. ‘ashing D. ton.