Evening star. [volume], August 02, 1930, Page B-4, Image 16

About Evening star. [volume] (Washington, D.C.) 1854-1972

Image provided by: Library of Congress, Washington, DC

                
B-4
DROP IN D.C. BANK
CLEARINGS SHOWN
Decrease of 17 Per Cent
From 1929 Figures Reveal
ed in Weekly Report.
BY EDWARD C. STONE.
Bank clearings in Washington for
the week ended July 31 totaled $30,-
983,000, against $33,148,000 last week
and a decrease of 17 per cent from the
1
C. J. Gockeler.
corresponding week
In 1929.
Baltimore re
ported bank clear
ings of $04,265,000,
against $84,394,000
in the previous
week and a de
crease ol 16.8 per
cent over the same
week a year ago.
Richmond also re
ported a falling off
in weekly clearings,
the total for tne
week ending July
31 being $38,543,-
000, against $39,-
062,000 for the pre
vious week but a
decrease of only
3.7 per cent from the same week last
year.
Atlanta reported weekly clearings
amounting to $34,882,000, against $38,-
476,000 in the previous week and a de
cline of 30 per cent compared with the
same weekly period a year ago. For j
the larger cities of the country Brad- j
street's reports that clearings showed an
increase of 19 per cent over the pre
vious week, but a loss of 27.8 per cent
from the like week in 1929. Thus, the
average for the country is 10 per cent
larger than the figure for Washington
When compared with a year ago.
Chapter Chairmen Appointed.
The complete list of 1930-1931 com
mittee chairmen of Washington Chap
ter, American Institute of Banking,
have been appointed by the president,
Frank M. Perley, as follows:
Archives. Miss Winifred Burwell, Na
tional Metropolitan Bank: banquet. I.
J. Roberts, Riggs National Bank; audit
ing. John M. De Marco, Seventh Street
Savings Bank; athletics, J. Earl Mc-
Gearv, W. B. Hibbs & Co.; educational.
Aubrev O. Dooley. Federal-American
National Bank, with Richard A. Norris,
Lincoln National Bank, vice chairman;
Dollars and Sense, H. T. Bisselle, Riggs
National Bank, editor: Robret E. Lee,
Lincoln National Bank, business man
ager.
Forum. A. E. Henze. W. B. Hibbs &
Co.; entertainment, Willard Barker,
Morris Plan Bank; finance, James A.
Boper, Lincoln National Bank; house,
Richard A. Morris. Lincoln National;
membership, J. Fred English, Com
mercial National Bank; public affairs
and education, T. Hunton Leith. Se
curity Savings and Commercial Bank;
publicity, Henry F. Kimball, American
Security St Trust Co . and women’s
committee, Mildred C. Woodcock, Amer
ican Security St Trust Co.
Hulbert T. Bisselle will have as asso
ciate editors of Dollars and Sense Miss
Mabel V. Royce, Washington Loan St
Trust Co.; Miss Bernice Thomas, Fed
eral-American National Bank: William
G. Winstead, National Metropolitan
Rank, and J. Everett White, American
Security & Trust Co. Robert E. Lee
of Lincoln National Bank will be busi
ness manager and Willard G. Barker,
Morris Plan Bank, and J. Earl McGeary,
W. B. Hibbs & Co., associate business
managers.
. John M. De Marco will have with him
as members. John Franzoni. Federal-
American, National Bank, and Eugene
Marks, Merchants’ Bank St Trust Co.
The Ways and Means Committee,
headed last year by Harold W. Bum
side, Riggs National Bank, will In the
future be known as the finance com
mittee.
Insurance Gain Reported.
Richard G. Petty, Washington agent
es the Jefferson Standard Life Insur
ance Co., has received word from the
semi-annual meeting of the directors,
recently held in the home office at
Greensboro, N. C., which shows that
business is excellent. President Julian
reported a gain of $2,067,000 in assets
in the six-month period, for a new total
of $50,813,000 and new business of $28,-
653,700 for upward of $370,000,000 In
surance in force In 25 States In which
the company operates.
A semi-annual dividend of 5 per cent
on the $1,000,000 capital was declared.
Angus W. McLean, former Governor of
North Carolina, member of the board
of directors, joined the officers in fore
casting improved business in the im
mediate future.
Savings Banks Refuse Deposits.
Mutual savings banks of the State
of New York have rejected an offer
of deposits of the city funds of Buffalo
on the grounds that they do not con
stitute thrift or savings deposits, ac
cording to the secretary of the Savings
Bank Association of New York.
Frank C. Perkins, president of the
Common Council of Buffalo, has been
complaining for some time over the
rates paid by commercial banks and
has been agitating for an amendment
to the State banking laws to allow
mutual savings banks to accept large
deposits of city money. Meantime he
wrote to savings banks in the north
ern part of the State asking them if
they would accept the deposit of the
City of Buffalo funds up to $7,500, the
present legal limit on individual ac
counts, at a rate of AV2 per cent.
The offer was declined necessarily,
the Bankers’ Magazine says, since the
law does not let any mutual savings
bank guarantee its rate of interest or
dividend, but the banks outside Buffalo
also declared that they would not be
justified in accepting deposits from a
neighboring city and savings banks in
the various group divisions have also
gone on record as being opposed to the
acceptance of such deposits, even if the
question of interest rate and jurisdic
tion were left out, on the grounds that
such funds do not represent savings or
thrift money and aie therefore outside
the character of deposits contemplated
by mutual savings banks.
Gockeler Off for Vacation.
C. J. Gockeler, vice president of the
District National Bank, left Washing
ton today for a month's vacation at
Ventnor City, near Atlantic City, N. J.
Mr. Gockeler was accompanied by his
mother. Last year he passed his vaca
tion at Margate City, another resort
near Atlantic City, but the demand for
cottages this year was unprecedented,
none being available for August. The
bank official has for years been secre
tary of the Washington Stock Exchange
and rarely misses a session.
John Ft. Devereux, Jr., has become
associated with the Washington office
of G. L. Ohrstrom St Co.
Mongomery Ward July sales, $18,668,-
623, a decrease of 5.7 per cent from
July, 1929; for seven months, $148,-
853,726, an increase of 4.3 per cent.
I. A. Fleming left here Thursday
afternoon for a three-week visit at At
lantic City.
•
WARNER BROS. PICTURES.
NEW YORK, August 3 (Special).—
Whether Warner Pictures directors will
reduce, pass or pay the regular divi
dend at their meeting pext week is still
undetermined. The directors have not
come together to discuss the prelim
inary phases of the situation. They
know that earnings have been, and are,
poor. What they cannot decide is the
length of the reaction in earnings. It
is understood that the dividend policy
mav be considerably Influenced by the
desire to sustain the position of the
. bonds, as new financing is likely in the
future.
FINANCIAL.
I NEW YORK STOCK EXCHANGE I
Received by Private Wire Direct to The Star Office.
Note—All stock* are sold In one hundred-share lots
I excepting thoee designated by the letter s (655) (2655)
which ehowe thoee stocks to be sold in odd lots only.
Slock and Sale*— Pm.
Risk. Low. Dividend Rate. Add od. HUk. Low. CIOIO. Cloie
’ 42% 22 Abltlbi Pwr* Paper. 1 26 26 26 26
1 17 b, 21T4 Adame Exp (1.60)... 11 26*4 26*4 26V. 27(4
84*4 29*4 Addressograph (1(4) 2 31 81 31 81
156*4 108(4 Air Reduction <5).... S 116% 115*4 116 115(4
2 % 1 Ajax Rubber * 2 lb lb lb 1%
9(4 4(4 Alaska Juneau 1 6*4 6*4 5*4 5(4
15(4 8 Albany Wrap Paper.. 1 8 8 8 8%
35'4 18 Allegheny Corp 17 21*4 21b 21(4 21(4
107(4 87 AllegCp w S3O w 6(4 2 96 95*4 96 95
343 232 Allied Ch A OyelnS). 8 265 263(4 265 264
126(4 121 Allied Ch AD pf (7)- 1 125*4 125*4 125*4 125(4
68 48(4 Allls-Chalmers <*).. 2 56(4 56V* 56(4 66*.
21*4 B*4 Am Brown Bov Elec. 8 17 16*. 17 16b
156(4 108(4 Am Can 14) 88 130 128(4 129*4 128(4
69(4 39 Am Chain (3) 2 58 58 58 50
61(4 36*4 Am Chicle (tS) , 2 44>4 44'4 44(4 44
S 3 9(4 Am Comm Alcohol... 1 11(4 11(4 11(4 12
69*4 33(4 Am European Secur.. 2 38 37 37 38>4
101*4 56(4 Am A Porn Power... 60 73(4 71(4 72*4 72%
33% 14 Am Hawaiian (tlO).. 1 14(4 14% 14(4 14(4
41*4 31 Am lc« (t 4) 1 34*4 34(4 34(4 35
65** 28*4 Am Internatl <*).... 6 34% 34(4 34*4 34(4
105 43*4 Am Locomotive (4).. 8 45(4 44(4 44*4 44(4
284*4 180 Am Mach A Fdy (7). 1 190 190 190 191
42(4 86(4 Am Mach AFy n w.l. 8 88% 38 38 38*4
61(4 80(4 Am Metal Co (1(4).. 1 31V4 31(4 31*4 31(4
119*4 72% Am Pwr ALt !«)... 2 84b 84% 84b 83b
107 99 Am Pwr ALt pf <s)„ 2 102(4 102% 102% 101%
39*4 23% Am RaAStd San IH. 13 26(4 26% 26% 26
100% 48 Am Rolling MIIKnZ) 2 55 55 55 54%
79% 53 Am Sm A Ref («).... 8 67 66% 66*4 66%
52*4 35*4 Am Steel Fdy («>... 2 40 40 40 40
69% 47 Am Sugar Ref 46)... 4 54 53% 64 63(4
26b 9% Am Sumatra T0b.... 1 12 12 12 12%
274 1 4 200'* Am Tel A Teleg <9>.. 91 211 209% 210 209*4
121% 120 Am Tobacco (new).. 3 121% 121% 121% 121%
269% 197 Am Tobacco B (tl2). 4 252 252 252 262
124 118 Am Tobacco B(new) 9 128(4 123% 123% 123
124% 78% Am Water Wka (nl) 1 92 92 92 90%
17(4 6*4 AmZinc Ld A Sm 1 9(4 9% 9% 9*4
81*4 44*4 Anaconda Cop (3%). 19 51 60% 61 60%
8% 4b Armour of 111 (A).... 1 5 5 5 5%
4% 2b Armour of 111 (B)..» 2 3 3 3 3
51 32% Asso 011 (2) 10a 40 40 40 40
108 102 b Atch To ASFpf <6). 2 105 105 105 105%
61% .”0% Atl Refining (12).... 2 37% 37% 37% 37%
87 25% Atlas Stores (n1).... 2 30% 80 30% 30%
263% 91 Auburn Auto (J 4)... 20 123% 119 122 118
81% 37 Auto-Strop Saf R(3) 5 77 76% 77 77%
9% 4% Aviation Corp of Dal 18 6(4 6 6% 6(4
38 19% Baldwin Loco (1%). H 28 27% 27% 27%
110% 107 Bamberger pf (6%). 10* 108% 108*4 108% 108
67% 27b Bendlx Aviation (2). 2 31% 81% 31% 31%
66% 31% Best ACo (2) 1 45% 45% 45*4 45%
110% 75% Bethlehem Steel (6). 21 81% 81% 81% 81%
134 122% Bethlehem Stl pf (7) 5 128 128 128 126%
69 28% Bohn AIA Brass ($). 3 34 33% 33% 34(4
90% 60*4 Borden Co (k*) 6 78% 78 78% 78(4
25% 13% Briggs Mfg Co 18 23 22% 22% 22%
22% 12(4 Brockway Motor Trk 8 16% 16 16% 16
78% 68% Bklyn-Manhat (0.. 1 65 65 66 64%
178% 115 Bklyn Union Gas (5) 2 126 124 125 124
33% 5% Bruns Ter ARy 8... 2 9% 9% 9% 9(4
43 83% Bucyruscv pf (2(4). 1 86 86 36 87
16% 7% Budd (EG) (1)..... 1 9 9 9 8%
43 26*4 Bulova Watch ($)... 4 28% 27% 28% 27%
61(4 29*4 Burr Add Mch (1)... 1 32% 82% 32% S 3
29% 13% Butterlck Co 2 17% 17% 17% 17
112% 66% Byers (A M) 6 70% 69% 69% 71
62% 45% Can Padflc(new)w.l. 2 46% 46% 46% 46%
362% 156% Case (J I) («> 136 196 192 195% 193%
79% 54 Caterpillar Tract 3 (4 7 61% 61% 61% 62
60 9 Celotex Co 20 12% 11*4 11(4 12%
82% 51% Ches A Ohio Corp ($) 1 64% 64% 64% 63
10 4% Chi A Alton 27 7% 6(4 7(4 7%
10*4 4% Chi A Alton pf 41 7 6(4 7 6(4
17% 8% Chi Groat Western.. 3 11 11 11 10%
26% 12% Chi MllStP APac... 2 15 14% 14(4 14*4
110% 105 ChlßlAPacpf (7). 1 106% 106% 106% 107
43 24 Chrvaler Corp (»). .. 8 29% 29(4 29% 29
98% 83 City IceAFuel pf 6(4 60s 84% 84% 84% 84%
52 48% Coca-Cola A (*) 2 50b 50b 50% 60*4
35% 14*4 Colllna A Aikman.... 1 24(4 24(4 24(4 24%
77 36% Col Fuel A Iron <S).. 1 51 51 61 50%
87 58% Col Gao AEI (2) 20 63*4 62(4 63*4 62%
110 104% Col Gas AEI pf A(s> 1 107 107 107 107
87*4 15% Colum Graph (a26c). 9 17% 17% 17% 17%
40% 23% Comm Credit (2).... 4 26% 26(4 26% 26%
94 77% Comm C Ist xw(6(4) 10s 85 85 85 85
65 28% Comm Inv Tr«gl.«o> 1 34% 34% 34% 34%
38 20% Comm Solvonto ($1) 12 26% 25*. 26*4
20*4 12% Comwltb A Sou (60c) 18 14*4 13*4 14% 1$
19% 10% Congoleum-Naim... 2 13 12% 12% 13%
69% 36 Consol Cigars (6)... 1 39 39 39 41%
80 67 Consol Cgr pr pf 6(4 . 10s 70 70 70 70
136(4 96*4 Consol Gas N T 44).. 30 107 104*4 107 104%
103(4 99% Consol Gas NY pf(l) 3 102% 102% 102% 102%
8% 3% Container 18)....... 3 4% 4% 4% 4(4
62% 18% Conti Baiting (A).... 2 23% 23(4 23(4 23%
73% Conti Baking (8).... 8 3b 3% 3% 3%
94*4 66% Conti Baking pf ($)„ 7 73% 71*4 73% 73
71% 50% Conti Can (2%)..... 8 59*4 59*4 59(4 60
30% 18*4 Conti Oil of De1..... 86 20b 20 20b 21
40(4 20 Conti Shares (l).. n t 19 24b 24% 24% 24%
83 15% Coty. Inc 3 21% 21% 21% 21%
22 10% Crosley Radio 8 12(4 12*4 12*4 13
69*4 88 Crown Cork A Seal.. 1 49 49 49 49%
117 104 Crucible Steel pf (7) 20s 110 110 111 111
19% 9 Cuba Co ’ 3 13 13 18 13
65% 42(4 Cuban-Amer Sug pf. 10a 42% 42% 42% 42%
14(4 6% Curtisa Wright Corp 10 7% 7% 7% 7%
19*4 8% Curt Wright Corp A. 1 10 10 10 9%
90% 55 Cutlor-Hammer(2(4) 1 61% 61(4 61% 61
23*4 28*4 Deßeers Min (a1.44). 20s 14 14 14 23b
237 139 Diamond Match (8). 20 226*4 225 226 b 224%
87*4 67 Drug Corporatn (4)- 19 77% 76 77b 76%
145% 95% Du PontdoN (t 4.70) 62 116% 114 116% 114%
255% 175 b Eastman Kodak (ts) 5 210 209 210 209
37% 19(4 Eaton Axle AS (*).. 3 23*4 23*4 23(4 24
114*4 55(4 Eleo Auto Lite (•)... 1 77% 77% 77% 76%
9*4 3% Electric 800 t........ 5 3*4 3% 3(4 Sb
101% 49% El Pwr ALt (1)....« 86 70% 68% 70 69
63b 35(4 Erießß 1 41% 41% 41% 41(4
48*4 10*4 Eureka Vac Cleaner. 1 12% 12% 12% 12
26b 22 Exchange Bus (11$). 50s 23 23 23 23%
89b 7 Fairbanks Co pf 20s 13 12(4 13 12%
43 30 Fed Wat S. A (e2.40) 1 35% 35% 35% 34%
98 92 Filine’s pf (6(4).... 10s 97 97 97 98
5% 1% Flak Rubber 48 2 lb 2 lb'
21 6% Flak Rubber Ist pf.. 100 s 77 76%
104% 60% Foster Wheeler «2).. 3 82% 82(4 82% 83%
67*4 16% Fox Film (A) (4)... 18 45b 45% 45% 45%
65% 37 Freeport. Tax (t 6).. 3 44 44 44 44
111(4 TB(4 Gen Am Tnk Car(s4) 13 86*4 86% 86*4 86(4
71(4 88% Gen Asphalt (4)..... 1 46% 45(4 45% 44b
84% 13% Gen Cable } 1 14% 14% 14*4 14
61 40b Gen Cigar (4) 2 46 44(4 44% 44%
95b 60% Gen Electrlo (1.60).. 64 70(4 69% 70% 69b
11(4 11% Gen Eleo speo (60c)- 1 11% 11% 11% 11%
61(4 46% Gep Food Corp (>)..• 6 64% 64% 64% 64%
18% 8 Gen GasAEl, A(etO). 19% 9% 9% 9%
69% 40(4 Gen Mills (t) 1 45 45 46 46%
64% 37% Gen Motors (t1.t0).. 420 46% 45% 46% 45%
106% 75% Gen RySlgnel ($)... 2 80% 79 80% 79%
19% 11% Gen Realty A Util... 12 12 12 12 12%
90 65V* Gen Refractor(t4(i) 10 77b 76% 77% 76%
106% 58 Gillette Saf Rax(n6). 32 83% 82 83% 82%
38 15(4 GllddenCo (2) 7 16% 16 16% 15%
19 8% Gobel (Adolf) 2 9% 9% 9(4 9%
47% 34% Gold Dust (2%) 7 40% 40(4 40% 40
68% 22% Goodrich (B F) (4).. 15 25% 25 25% 26%
96% 54% Goodyear Tire (6)... 2 64 63 63 62b
13% 6% Graham-Pa Ige 2 6% 6*4 6% 6%
62 30 Grand Silvers (ml). 1 39 39 39 38%
20% 10 Grand Union 23 16b 16b 16% 15%
43% 34b Grand Union pf (I).. 6 43*4 42% 43% 42b
43 29 Grant (WT) <1)...» 1 32% 32% 32% 32%
102 71b GrtNorth pf (6).... 2 82 81% 81% 82%
25% 18 Gr NorctfsOr# (a% 2 21% 21 21 21
120 110% Grt West Sug pf (7). 10s 116 lift 116 115%
28 12% Grigsby Grunow.... 15 14 13*4 18(4 14% !
38 26 Hackensack W (1(4) 60/, 36% 35% .15% 36%
23% 12% Hahn Dept Storee... 4 16#* 16% 16% 16%
20 10% Hartman (B) (1.10). 4 12% 12% 12% 12%
109 70 Herahey Choc (6)..► 1 94 94 94 95
116*4 62V* Houston Oil (bl 0%). 13 84(4 83% £3*4 85
26% 13 Hupp Motor Car (1). 10 13% 13% 13% 13%
32 19% Independ Oil A G(3). 2 21% 21% 21% 21%
17 4% Ind Motor Cycle..... 16% 5b 6% 5%
239 154% Ingersol 1-Rand (ts). 3 198 194 198 194%
9« 68 Inland Steel (4) 1 80 80 80 77
30(4 12% Inspiration Cop (2).. 4 15% 15*4 16% 16
13% 9% Insur ctfs(Md)(6oc) 1 12% 12(4 12% 18
39% 20% Interboro Rap Tran. 7 27(4 26 27% 26%
8% 4% Inti Agricultural.... 2 6 6 6 5*4
197% 152% Inti Bus Mach (ns).. 4 175% 175 175% 175
19% 11 Inti Carriers. Ltd (4. 4 12% 12% 12% 12%
14% 6 Inti Combustion.... 10 6(4 6% 6(4 6%
78 30 Inti Comb Eng pf.... 3 68% 67 68% 66
75% 50% Int Combust pf ctfe. 1 67 67 67 65
115 b 76 Inti Harvester (3(4). 4 82*4 81% 82*4 82
64 31% Inti Hydro El A (es) 3 38% 38 38% 37%
92 66% Inti Match pf (4) 2 79 78% 79 78
33 19 Inti Mer Marine (2).. 4 22 21% 22 20b
44% 21 Inti Nlckl of Can( 1). 133 23% 22*4 23% 23%
86 70 Inti Paper pf (7).... 60s 80 78(4 80 78
68b 36b Inti Printing Ink (!) 1 37 37 37 38%
45b 36 Inti Salt (new) 6 39% 38(4 39% 38%
77% 40% Inti Tel A Teleg (1). 6 46% 45% 46% 45%
40 18 Inter Dept Stre ($).. 13 24b 24 24% 24
29 14 Investors Equity (2). 2 15b 15% 15% 16%
148 b 70 Johns-Manvllle (8).. 15 85% 84 85 84b
123% 118% Jones A Laugh pf (7) 100 s 121% 121% 121% 121
41% 24 Kayser Julius (2(4). 1 24 24 24 24
38% 22% Kelsey Hayes ($)... 9 31 31 31 30b
LUMBER PRODUCTION.
[ By the Associated Press.
Further curtailment of lumber pro
l ductlon during the week ended July 26
; is indicated by reports from 893 leading
’ hardwood and softwood mills to the Na
r tlonal Lumber Manufacturers’ Associa
tion. Total production of these mills
• was given as 275,825,000 feet. New busl
t ness for the week at these mills was 89
r per cent of production.
» The relation of demand to produc
i tion represented an Improvement over
* ratios established In recent months, In
which production has been steadily de
THE EVENING STAR, WASHINGTON. D. C„ SATURDAY, AUGUST 2, 1930.
Stock end Sales— rrev.
Hirh. Lew. Dividend Rate. Add SO. Bleb. Low. Close. Close.
26% 7% Kelvins tor Corp.... 13 17% 17% 17% 17%
62% 37% Kennecott Cop (8)... 26 39% 38% 39% 39
8% 1% Roister Radio 36 3 3 3 3
35% 23% Kreuger A Toll 1.60.. 6 27b 27% 27*4 27%
48% 21 KrogGr&Bak (nl). 6 25% 25% 25% 25%
29% 21% Lago Oil & Trane.... 1 28% 28% 28% 29
113 76% Lambert Co (8) 1 92 92 92 91(4
108% 106 Leh Port Cm pf (7)..100a 105 105 105 105
37% 22(4 Leh Val Coal pf (J).. 3 27 26 27 25%
97% 66(4 Lehman Corp (8).... 4 74 73*4 74 74
36 22% LehnAFlnk (8)...., 1 29(4 29% 29% 29%
114% 85 Llgg AMyersß(tS). 10 94% 94% 94% 94*4
81% 52b Liquid Carbonio (4).. 6 68 68 68 68%
95b 42% Loew’a. Ino (I) 2 71% 71 71 Vi 70b
28% 16% Lorlllard (P) Co 21 23% 23% 23% 23%
61% 33 LouO&EKA) (I*4)- 7 38 37 37% 37%
138% 120 Louis A Nash (?)..«. 4 120 119 119 120%
44% 22 Ludlum Steel (2)..., 2 26*4 26% 26% 26%
44 30% McGraw-Hill (2).... 1 34% 34% 34% 35
89% 61 McKeesptTPl (f 5).. 6 82% 81% 82% 82b
37% 18% McKesson A Hob (3). 8 20% 20% 20% 21
169V* 109 Macy (RH) ACo(ntl) 6 119 118 119 120
62% 28b Magma Copper (4).. 1 33 33 33 33
40% 24 Man Kiev mod g (d 6) 10 30% 29% 30 30%
68% 46% ManhatElev gtd (7) 70s 60 50 50 60
32(a 31b Marine Mid (1.20)... 1 32 32 32 32
48% 35% Marshall Field (2%) 1 37% 37% 37% 37%
61% 32% Mathieson Alklll (2). 2 38% 38% 38% 38
40% 21% Maytag Co pf (3).... 1 24(4 24% 24% 25
37 16% Mexican Seaboard... 11 22% 22% 22*4 22V*
38% 15 Miami Copper (1%).. 3 16*« 16b 16b 16%
33 22% Mid-Cont Fetm (2).. 15 24 24 24 24(4
2% % Middle States Oil ct., 2 1111
53 21% Midland Steel (5).... 4 31% 31 31% 31%
110 84 Midland Steel pf (8). 2 93b 93% 93b 93%
145% 115% Missouri Pac pf (6).. 5 124!* 124% 124% 124
49% 31 Montgom Ward (8).. 21 36 35% 36 36(4
72 61b Morrell &Co (4.40).. 1 63% 53% 63% 63%
2 1% Mother Lode (20c).., 71% 1% 1% 1(4
11% 3% Motor Meter G & El.. 1 4 4 4 3%
25% 12% Murray (b2%stk>... 1 17% 17% 17% 16%
68% 30% Nash Motors (4).... 6 35 35 35 35%
26% 10% Nat Acme (1(4) 2 13% 13% 13%' 13%
20 8% Natl Bella He 55...... 19% 9% 9% 8b
93 71 Natl Biscuit. n(2.80), 5 85 85 85 84
83% 42% Natl Cash Reg,A(T4) 6 46% 46 46 46
62 45% Natl Dairy ($2) 8 53 62b 52b 53
189(4 126 Natl Lead *18) 1 130 130 130 130
143 188% Natl Head pf(A) (7). 40s 141 141 141 141
68b 32 NatlPwr ALt «X>... 31 46% 45% 46 45%
1% b NatlßysMex 2d pf.. 11% 1% 1% 2b
124 b 100 b Natl Supply (5) 4 106% 105 106% 106%
32% 15% Nevada Copper (1(4) 2 lbb 16b 16b 16%
47 37% N X Airbrake (3.60). 2 38% 38 38 38%
128% 97% N XNHAHart(6). 1 104% 104% 104% 104%
116% 110 N X Steam Ist pf (7). 10s 112% 112% 112V* 112
15% 7% North Am Aviation.. 5 9% 9% 9% 9
132% 87% North Amtblo%stk) 25 99b 97% 99b 101
24% 9% OH Well Supply 3 22 22 22 22
107% 86 011 Well Sup pf (7),.450s 104 101 101 . 102
8H 2b Omnibus Corp 2 5% 5% 6% 4%
80b 65 Otis Elev, m 2 %).... 1 64** 64% 64 b 64b
110 102 Outlet Co pf (7) 10s 105 105 105 105
60% 45% Owens 111 Class (3).. 2 48 48 48 49b
107% 72 Paclflo Lighting (8). 5 77% 76 77% 76b
23% 12% Packard Motor U).. 7 14% 14*4 14b 14%
67% 60% Pan-Ain Petm (8)... 2 08% 68% 68% 68b
77% 48% Param’ni Pubilx (4). 16 59 69 69 69
4% 1% Park Utah 3 2 2 2 2%
26% 9 Parmelee Trans 1%., 19% 9% 9% 9%
9 2% Paths Exchange..... 2 4 b 4>* 4b 4%
14 4% Peerless Motor Car.. 2 6% 6% 6% 5%
86% 69% Penna BK (4) 14 75 74b 75 74%
27% 18b Pstrol Corp (1%)... 2 20% 20% 20% 20%
27% 19 Phllllps-Jones Corp., 1 20 20 20 21
76 70 Phillips-Jones pf (7). 10s 66% 66% 66% 70
44b 29% Phillips Petrra tn 2)„ 11 33 32% 33 33
2% 1 Pieros Oil 3 1% 1% 1% l
7% 2% Pierce Petroleum.... 6 5% 5% 6% 6%
60% 39% Pirelli. Italy ia3.14). 2 41V* 41% 41% 42
110 85 Pittsburgh Coal p1... 1 84 84 84 92
27% 9 P Rican Am To (B).. 1 11% 11% u% n%
64 36% Prairie Oil A GasU) 2 37 37 37 37
60 44% Prairie Pipe L (T 6).. 3 45 45 45 45
78% 62% Proctor & Gambia.4o 4 73% 73 73% 73%
123 b 81% Pub Serv,N J t 5.10)., 10 91V* 90% 91% 90%
98% 91b Pub Serv NJ pf (6).. 3 94*» 94b 94b 94%
89% 62 Pullman Corp (4)... 6 69% 69 69 69%
27% 19% Pure OU (1(4) 2 21% 21% 21% 21b
88% 62 Purity Bakeries (4). 1 62 62 62 62
69b 32% Radio Corp 271 ‘42% 41% 42b 42
50 19 Radlo-Kelth-Orph A. 75 31% 30% 31% 31%
46% 28 Rem Rand (1.60).... 3 28 27% 28 27%
100% 92 Rem-Kand Ist pf(7). 1 95% 95% 95% 94V,
14% 8% Reo Motor Car ilOc), 19% 9% 9% 9%
79% 37% Republic Steel (4)... 6 46 45% 46 45b
58b 45V* Reynolds Tob B (8). 4 50b 60% 50b 50b
28% 14b Richfield Oil (2)...•) 1 17% 17% 17% 17%
122% 68% Safeway (el) 6 63 62 62 62%
21b Savage Arms 12).... 2 20 20 20 20
12% 6 Seaboard Air Line... 2 6V« 6% 6% 6Vi
106% 69% Sears RoebuckU2 (4) a 65% 65% 65% 67
2$ 7 Second Natl 1nv..... 1 10 10 10 10
13% 6% Servel. Ino 3 76% 77
26% 18 Shell Union (1.40)... 3 19% 19% 19% 19%
106% 95 Shell Un Oil pf (6(4) 3 100 100 100 100
94% 21 Simmons Co 9 25 24% 24% 25
37 18 Simms Petrm (1.60)« 6 21b 21 21 21%
32 20 Sinclair Con 011 12).. 21 24V* 23b 24% 23b
112% 108 Sinclair Oil pf (8)..„ 1109 b 109 b 109 b 111 b
42 28% Shelly 011 (2) 3 29>„ 29% 29% 30%
72 62% Southern Cal Ed (I). 4 66% 56% 56% 56b
136 b 85% Southern Rwy (1)... 786 b 86% 86b 87%
37b 19% Speng-Chaltant 8 32 32 32 32
30% 13% Sparks Withngtn(l). 10 23% 22% 22% 23
36Vs 14b Spicer Mfg 1 16% 16% 16% 17%
62 10% Spiegel-May-Stern.. 1 17% 17b 17b 16%
29b 17 Stand Brands (1(4).. 12 20% 20% 20% 20%
7% 3b Stand Comm T0b.... 14% 4% 4% 4%
129V* 84b Stand GAE (8(4)... 12 96b 94% 95b 94%
76 66% Stand Oof Cal (2(4). 162 b 62b 62b 62
49 29 StandOllof Kan (2). 2 31V* 31V* 31% 32%
84% 58 Stand Oil of N J(t2). 67 72% 71% 72% 72
40% 30 Stand Oil N X (1.60). 6 32% 32 32% 32
118% 70% Stone A Webster (4). 10 82% 82 82% 81%
47% 25V* Studebaker Corp (3). 6 31 30b 31 31
106 b 102% Sun Oil pf (I) 20a 108 108 108 105
45% 38 Superheater (t3(4).. 2 43 43 43 43
9b 2 Superior OU. 9 2b 2% 2b 2b
26b 15% Telautog’h C (t 1.35). 1 18% 18% 18% 18b
17 10% Tenn Cop ACh (1).. 2 11% 11% 11** 12
60% 50% Texas Corp (3) 2 62% 52b 62% 52%
67% 48% Tex Gulf SulphurU) 158 b 68b 68b 58%
82% 13% Texas Pao Land Tr.. 4 21% 21b 21b 22
36% 17% Thatcher Mfg (1.60). 17 24% 23b 24% 22b
29% 11 Thermoid Co 6 12% 11% 12% 11%
17b 10b Tide Water As (soc). 3 14 13% 13% 13b
89b 65b Timken Roller (1)... 17 67b 66V* 67H 65b
25% 21b Traneamer ($1.60).. 29 22 21b 22 22%
24 16b Traneoontl Oil (SOo). 12 18b 18Vs 18% 18b
28H 11% Transue A W (1).,... 1 16 15 15 15
20b 9% Trl-Contl Corp....— 6 13 12% 12% 12b
106 H SO% Union Carbide (1.10) 16 73b 72b 73b 72b
242 b 200 Union Paclflo (10)... 2 220 220 220 215(6
86b 82b Union Paclflo pf (4). 2 85% 86% 85% 86
99 43% Utd Aircraft........ 61 69% 58% 69% 6914
84 40% Utd Carbon (2)...... 4 49% 49 49% 50%
8% 6% Utd Cigar Stores.... 1 6b 6(4 6b 6b
62 28% United Corp (60c)... 213 32% 31% 32% 32%
63b 46% United Corp pf (3).. 6 50V* 50 50 60b
105 83 Utd Fruit (4) 2 87% 87% 87% 87b
49% 31b Utd Gas A lmp(1.20) 36 35b 34% 35% 34%
14% 4% Utd Stores (A) 4 11% 11V* 11% 11%
50% 15% Utd Stores pf 2 43 48 48 48
20% 9b U S Distributing...„ 2 10 10 10 10
32% 16 USAFor Secur 1 17% 17b 17b 17 b
139% 62 U S Alcohol (t7).... 1 65V* 65b 65>/« 67%
26 15 US Leather (A) 2 18 18 18 18b
94 77b U S Leather pr pf (7). 1 90 90 90 90
38b 18% U S Pipe A F ($)...., 4 33 32b 33 82*4
35 20 US Rubber 2 21 20% 21 21
198 b 161% US Steel (7) 90 166% 165 166'* 165%
I 115 99 Unlv Leaf Tob pf(8) 10s 99% 99% 99% 99%
9 2b Unlv Pipe A Rad.... 6 4 4 4 4%
45b 30 Util PwrALt A te2)_ 3 33% 33% 33% 33b
7b 2% Vadasco Sales Corp.. 3 2% 2% 2% 2%
143V* 49% Vanadium Stl «t« >.. 11 98% 97% 98% 97%
103 101 Va El A Pwr pf («).. 60s 102% 102% 102% 102%
156 60 Vulcan Det (4) 80s 82 78 82 81
81b 24b Waldorf Systm(l(4) 2 25% 25% 25% 25b
64 21% Ward Baking (A)... 210 s 25V* 25 25 25b
77% 58 Ward Baking pf (7).. 2 59 69 59 69
80b 35% Warner Bros Plo (4). 211 37 35 36% 36*4
27 12% Warner-Qulnlan (1). 1 13% 13% 13% 13%
104 97b West Penn El pf (6). 10s 101 b 101% 101% 101 b
111 b 106 b West Penn El flf (7). 80s 110V* 110V* 110'/* 111%
24% 11 Weetern Dairy (B).. 2 11% 11% 11% 11%
52 86*4 Westlnghse A B (I). 6 39 38% 39 38%
201% 124 b Westlnghse EAM (6) 83 145% 148% 145% 144%
21 7 Wextark Radio Strs., 1 10 10 10 10%
43 27% White Motors (1)... 2 32b 32% 32% 32%
64% 36% White Rck MS(t4%) 2 47 47 47 47
7% 8% Wilson ACo 1 3b 3b 3% 4%
72% 51% Woolworth (2.40).... 2 69% 59V4 59% 59%
169 67b Worth Pump 3 126% 125 126% 126%
81 67% Wrlgley (Wm) (4).. 2 78 77b 78 76
77 40% YaleATbwne Mfg(4) 3 40% 40 40% 40%
32b 12b Xellow Truck 9 26b 25 26 25
Sale* of Stocks on New York Exchange
10:$$ A.M 104.900 12:00 Noon 251,800
Dividend rates as elven in the above table are the annual rash
payment! based on the lateit quarterly or half yearly declaration*.
a Unit of trading less than 100 share*. tPartly extra. iPlu* 4 ; #
In Stock. (Payable In scrip. tPlus #% in stock, a Paid last year
no regular rate b Payable in stock, d Payable when earned, e Pay
able incash or stock I Plus 10% In stock, g Plus 6% in suck,
h Plus 3% in stock. 1 Plus 8% In stock, k Plus 3% in stock, n Plus
5% in stock. _
clining to meet the market. Indication
of the extent of tills decline Is shown
in reports from 491 Identical softwood
mills, showing a cut for the week ended
July 26 of 258,649,000 feet, as against
351,188,000 feet for the equivalent week
last year. For hardwoods, 215 Identical
mills report a cut approximately 20 per
cent under the week's production a year
ago.
Smoking room, dance hail, badminton
and lawn tennis courts and a swimming
pool are provided in a new marses’ home
In London.
WRITES $3,000,000 NEW
POLICIES EACH YEAR
A special prize for the largest vol
ume of business written during the
past year by any member of a Nation
wide insurance organization, was
awarded to Dr. C. E. Albright of Mil
waukee, who closed life insurance ap
plications totaling more than $3,000,000.
Since Dr. Albright started in the in
surance business in 1905 he has writ
ten more than $52,000,000 of protection
and his average for the past 10 years
has been close to $3,000,000 annually.
'REVIEWS OF TRADE
SHOW SLIGHT GAIN
Better Wholesale Inquiries
and Vacation Purchasing
Reported in Week.
Special Dispatch to The Star.
NEW YORK. August 2 —There has
been little change in the last week in
business conditions, according to the
weekly reviews. While hot weatliar has
stimulated some lines, especially light
clothing and vacation needs, other de
partments of trade report the heat as
having discouraged buying. Industrial
operations continue at a slow pace, but
inquiries show some improvement, al
though where sales have increased it
has been due more to aggressive selling
methods than to a better demand, it is
stated. »
Dun’s Review says, in part:
“Much of the further recession that
has appeared in business is clearly due
to the usual Midsummer curtailment.
Readjustments have made some addi
tional progress, and generally in the di
rection of partial recovery. There has
been an appreciable gain in retail dis
tribution. partly the result of the ex
ceptionally hot weather, also for vaca
tion needs and as a result of the ag
gressive sales campaign by merchan
disers.
"In industrial lines operations are at
a slow pace. The fact is emphasized
that production has been limited so
rigidly to immediate requirements that
any turn for the better will be reflected
at once in Increased manufacturing ac
tivity.
“The tenor of reports this week indi
cates additional inquiry in some of the
wholesale markets. In the primary dry
goods trade, while some moderate gains
in the volume of business are noted, it
is by no means very widespread. Im
provement is also noted in the inquiry
for raw silk. Production in the woolen
goods industry is still limited, but has
shown some increase of late. The hides
and leather markets continue disturbed
by unsteadiness in prices and the usual
seasonal condition in shoe production is
more accentuated than heretofore. The
situation in the steel industry remains
dull. v.’ith the demand still sharply re
stricted.
Statistics Encouraging.
“Such indicators of trade movements
as building contract, freight car load
ings, automobile output, steel and elec
trical production, bank clearings and
commodity price levels have failed to
show any improvement as yet. Many of
the statistical records, however, relate
to condiitons several months back. The
heavy lass in railroad earnings reflects
in large measure the movement of mer
chandise perhaps purchased as far back
as in May or earlier. The loaded car
movement, which is more nearly up to
date, covering the same period, does not
indicate anything like the same decline
in traffic, while for the latest week a
slight Improvement appears.”
Bradstreet says in part:
“The outstanding feature of the week
has been the wide distribution of and
the increase in damage reported done
to leading crops by the continued hot,
dry weather. While there is a dispo
sition to give some credit for larger dis
tribution of light Summer wear to high
temperatures, there are fully as many
complaints that the intense heat has
discouraged buying, added to which are
the increased volume of reports that
serious damage has been done to the
corn crop in most areas, with lesser
complaints of injury to cotton, late
planted Spring wheat, potatoes and
Western tobacco.
“Against these reports, however, it
was to be noted that while coni prices
have reached and passed wheat, the
latter with cotton sagged off in price
to new lows, in the first instance since
July, 1914, and in the latter to the
lowest level since once In 1928 and
back of that since 1921. From these low
levels both of these commodities and
the stock market which had also de
clined sharply, rallied on the last day of
July, while corn continued its rise to
new high ground in prices.
Effect of Shutdowns.
“Both wholesale and retail trade and
industry seemed quieter, but the indus
trial aspect differed from the commer
cial in that while some lines slowed
further, others, as for instance some
banches of the steel trade and automo
bile manufacturing, showed more re
silience, while shoe manufacturers made
progress in getting their factories started
on Fall styles, and there were enough
similar variations in some other lines
to rob the reports, as a whole, of some
of their depressing character. It seems
likely, however, that owing partly to
vacation shutdowns, July will show a
lower ebb in industry as a wl»le than
did June.
“In the lumber trade a slightly more
cheerful report came as to orders, but
against this it was noted that a wide
spread shutdown of productive forces
was still in evidence. From the North
Pacific Coast comes the report that the
Alaska salmon pack promises to be
1,000,000 cases short, but that, despite
heavy carry-over, higher prices are ex
pected. From Western Montana are
reports of forest fires, while from Ala
bama And Kentucky are reports of crop
conditions being less than half normal.
Rather conflicting reports come from
North and South Texas as to good and
the reverse conditions of the cotton
crop in the respective areas.
“From the large producing corn belt
States comes an unofficial estimate of
a possible reduction of 300,000,000
bushels in that crop, due to heat and
drought at a critical time. The minia
ture golf course as a possible source
of considerable employment is stressed
in reports from Los Angeles, which city
reports immense activity and big out
lays of money to fit up hundreds of
these for playing purposes.”
FOREIGN CARMAKERS
STUDY U.S. AUTO CUT
American Sales May Be Put on
Limited Quota Basis With Gov
ernment Sanction.
By the Associated Press.
NEW YORK, August 2.—A Paris
dispatch to the New York Times says
that representatives of all automobile
manufacturing countries of Europe met
secretly in the French capital Thurs
day afternoon to discuss a plan for
placing American automobile sales to
the continent on a limited quota basis.
The Times added that adoption of
the scheme would cause the American
automobile industry to lose millions’ of
dollars, seriously curtailing its export
trade.
Several years ago, says the dispatch,
a similar plan was abandoned because
of the lack of governmental support.
Since the passage of the new American
tariff measure the attitude of the gov
ernments is said to have changed.
MYSTERIOUS EPIDEMIC
. CLAIMS LIVES OF MANY
Leech Bores Under Skin, Causing
Fatal Blood Poisoning in Labor
ers of Czech Area.
By the Associated Press.
BRATISLAVA. Czechoslovakia. Au
gust 2. —Many persons have died and
100 are reported ill following a myste
rious epidemic which has broken out
among farm laborers living in the vi
cinity of the Polish frontiers.
The disease results from blood poison
ing caused by a leech which bores under
the skin.
Deposit of $5,000
Jumps to $50,000
In 99 Years’ Time
A bank deposit of $5,000, which has
been overlooked in a savings account
for 99 years and which is now believed
to amount to approximately $50,000, is
at stake in a Probate Court suit which
will be begun immediately. The ac
count, says the Bankers’ Magazine, in
volves the property of Mrs. Lucy Loud,
which was recently advertised by the
New Haven Savings Bank, New Haven,
Conn. Although former advertisements
had attracted no attention, the last
one brought forward a dozen heirs of
Mrs. Loud, who died in 1831. They
have announced their intentions of
suing for their shares in the estate.
pricecutting¥alts
BUSINESS REVIVAL
Manufacturers Show Sell Nothing
Under Production Costs, Steel
Head Says.
Special Dispatch to The Star.
CLEVELAND. August 2.—Failure of
American manufacturers to study their
costs of production and base their prices
thereon is a major factor in the slow
return of normal business this year,
according to E. J. Kulas, president of
the Otis Steel Co.
Industry is in the throes of a price
cutting war which has carried prices in
many lines under production costs,
Kulas declares. He believes that some
measure of stability or recovery may
shortly be expected.
“In the steel industry, and a good
many others, buyers are hunting for
bargains, and sellers are cutting into
or below the profit line to produce
them,” says the manufacturer in the
current issue of Printers’ Ink. “The
special price and the private deal—
which Is public property a few hours
after it is made —are being substituted
for published daily quotations and busi
ness in the open.
“Stability and confidence naturally
give way to fluctuations and distrust,
and the orderly flow of commerce that
looks always to expansion is halted by
a hit-or-miss system in which restric
tion becomes inevitable.
“Undoubtedly the desire of the buyer
to get low prices is the first link in the
chain of events that leads to unprofita
ble business, but there should be a line
below which the seller will not go. In
order to establish such a line, however,
I the vendor must know his costs instead
of guessing at them.”
INVESTMENT TRUSTS
NEW YORK. August 2 (/Pj.—Over
the-counter market:
Bid. Asked.
Nation Wide Secur X-M 81!•» 9
U 8 Elec Lt &PrSh A X-N.... 36Va 38>»
U S Elec Lt & Pr Sh B X-Q 10 10'/ s
Others unchanged.
NEW YORK BANK STOCKS
NEW YORK. August 2 (/P).—Over
the-counter market:
National Banks.
Bid. Asked.
America 95 98
Bk of U S Units 40Vi 42',4
Broadway Natl 93 103
Chase 138 141
Chat Plienlx : 105 108
City 128 131
Fifth Ave 2750 3050
First NRtl N Y 4825 5025
Harriman 1510 1610
Manliat Co 109'i 112'a
Peoples Natl 400 500
Trust Companies.
Banker*' 138 141
Cent Hanover 342 347
Chelsea Bk & Tr 34 37
Chem Bk & Tr 65 67
Corn Exchange 159 163
County 235 245
Guaranty 60S 613
Irving 49'4 St's
Manufacturers’ 93*« 95^,
New York 241 246
United States 3900 4100
Westchester Tile A Tr 130 170
24-Hour Parking
Basement of Investment Bkdg.
15th A K Sts. Met. 7601
Hour, Day ar Month.
First Mortgage Loans
In Arlington County and
Alexandria, Virginia
Commonwealth Investment
Co., Inc.
806 15th at. N.W. Phone National Z 623
Mortgage Loan Correspondent for
The Prudential Insurance Co.
of America
Ben Hundley
<-hoop^>
TIRES
Liberal Allowance an lour Old Tires
3436 14th St. N.W. Adam. 8106
Road Service—Charga Acconnts Invited
Money to Loan
Secured by first deed of trust on real estata.
Prevailing Interest and commission.
Joseph 1. Weller %gtfrjgjjjag
FOR SALE
High-Class
Business Property
Paying
Net
Price, $295,000
Trust, $150,000, at 5H%
Long-Term Lease to One Tenant
Fireproof Building
Wm. H. Saunders Co., Inc.
1519 K St. N.W. Pitt. 1015
First Mortgage Loans
Lowest Rates of Interest and Commission
Thomas J. Fisher & Company, Inc.
fwSSBaSSSBSSBKS=SSS3SB3SESBSi ST
FIRST MORTGAGE REAL
ESTATE BONDS
Firm Bids Obtained
S. W. Strauss A Co.
Puritan Mtg. Co.
Prudence Co.
Empire Bund A Mtg. Po.
Guaranteed Bonds
American Bond A Mtg. Co.
Commonwealth Bond Corp.
G. 1.. Miller Co.
Geo. M. Forman A Co.
F. H. Smith Co.
Adair Realty A Trust
Columbia Mtg. Corp.
Greenebaum Sons A Co.
INTERNATIONAL BANK
Investment Securities
Tel. District A864
SJ*i r i c f 2255 16 Jackson Place
District 0866
410 11th St. N.E.
4 Rooms, Kitchen,
Bath and Porch, S4O
STOCKS IRREGULAR
AT SHORT SESSION
Price Changes Mixed—Sell
ing in Utilities Fails to
Depress List.
BY GEORGE T. HUGHES.
Special Dispatch to The Star.
NEW YORK, August 2. —In trading, i
which was the smallest In volume since
the Stock Exchange began the present
system of keeping records, stocks fluc
tuated within a narrow range today.
There were a few cases of weakness, j
but the majority of the active Issues
ranged higher. Taking the market as
a whole, however, neither side was able
to gain any real advantage.
The market paid little or no atten- !
tion to the news. Announcement of I
the proposed reductions in rates by :
Consolidated Gas found no reflection
in the price of the stock. Consolidated
Gas has been depressed more or less all j
week by selling for short account, but
there was no liquidation today. War
ner Bros, sold down to its previous low
on professed doubts as to the safety of
the dividend. The directors are sched
uled to meet on Tuesday and it is per
fectly possible that they may give the
professional operators for the decline
a disagreeable surprise.
An element in the Street has been
advertising In bearish attitude of the
utilities as a class and the short inter
est in this group is large, but selling
made no progress today. American
Telephone & Telegraph gained ground
and the others were practically sta
tionary. J. I. Case went through its
usual wide swing. Friends of the stock
emphasized reports that the company
had booked a large export order for
Russian account.
Standard stocks gave a good account
of themselves considering the extreme
dullness. Most of the time United
States Steel, General Electric and Gen
First Mortgage Loans
On improved Real Estate in the District of Columbia
and nearby Maryland and Virfinia for 3 t 5 or 10
year terms on your ,
Homo Oy/% Office Building
Apartment /£4 I Business Property
Apply
Randall 11. Hagnkr & Company
Nortoaoe Loan Corrkspoxdkkt
NEW YORK LIFE INSURANCE COMPANY
1321 Connecticut Ave. Decatur 3600
SAFE FIRST MORTGAGES
®IF YOU DO NOT
WANT THE WORRY
of anxiously watching the fluc
tuations of the money market,
but do want to place your sur
plus funds where they will be
absolutely safe, buy our
Over a Third
x 6% FIRST MORTGAGES
of a
Century They have appealed to thou
sands of successful investors,
lt tnut a who know from experience that
Loss there is no risk of loss—a record
we have maintained for over a
third of a century.
May be purchased in amounts
from $250 up.
B. F. SAUL CO.
National 2100 925 15th St. N-W.
THERE IS NO SUBSTITUTE FOR SAFETY
The ‘Get-Rich-Quick * Trap
The “easy money” lure attracts many
small investors—and large ones, too—
to buy and buy risky, speculative securi
ties which hold out the mirage of large
and quick returns. But, although it some
times brings profit to some, it has been
a great misfortune to countless others—
bitterness of regret succeeds the fasci
nation of reckless investing. Today
American investors are demanding more
and more FACTS about securities—
actual proof over a period of years that
their investment will yield them an un
failing return.
That is why so many w r ise investors
have chosen the 6 per cent First Mort
gage Notes sold through the Swartzell,
Rheem & Hensey Company. The owner
of these Notes receives the attractive
annual income of 6 per cent, assured
during the bad years as well as the
good—with complete safety of principal.
The sound, constant value of these Notes
is a matter of record; during more than
61 years of widely varying conditions,
these Notes have never fluctuated a
penny in value and the interest is sent
the investor so that he will receive it on
the day It is due. We shall be pleased
to send you a booklet explaining in detail
why these Notes today are such a safe
investment.
Swartzeil,
Rheem & Hensey Co
MORTGAGE GAHKEBS
\ 7X7 l» STRUT *.W. /
£ \ WA9HINCTOM D.c« / O*
FINANCI AE.
eral Motors ranged around or Just abort
the preceding close.
The oil stocks were steady, as they
have been all week. More Interest was
taken in Continental Oil. The last
balance sheet showed an impregnsbly
strong position. Earnings for the June
quarter were down from thote of the
same period in 1929, but for the half
' year they were higher and Interests
| back of the company are optimistic.
The only feature in the rails was the
new low in Louisville Si Nashville,
which told under 120 for the first time
this year. In the past three years
Louisville & Nashville has never sold
under sllO a share. Present estimates
are that the road will earn between
$9 and $9.50 a share in 1930 and there
has been no suggestion that the divi
dend is in danger, but market attitude
| toward the stock has been influenced
by the weakness in the shares of other
I railroads serving the South.
WALL STREET’S OPINION
OF INVESTMENT TRUSTS
Wall Street is inclined to feel that, so
far at least as Assistant Attorney Gen
eral Watson Washburn's analysis and
investigation of investment trusts are
concerned, this type of financial enter
prise has received a fairly clean bill of
health, says the New York Times. Only
three companies, and these small ones,
have been enjoined from doing business.
Only 10 companies have admitted mak
ing transactions on the short side of the
market. Less than one-third of them
reported that they had borrowed money,
and these loans were reduced materially
in the first quarter of the year. Several
bankers said yesterday that they consid-
I ered the report a fairly conclusive vin
dication of the management of the
trusts.
. ■ ■
POTATO MARKET.
CHICAGO, August 2 (/P) (United
States Department of Agriculture).—*
Potatoes—Receipts, 99 cars; on track,
220 cars; total United States shipments,
466 cars; sacks, weak, trading slow;
! Kansas and Missouri sacked Irish cob
blers, 1.40a1.55; decayed stock, 1.20a
i 1.35; barrels, practically no demand,
weak.