Evening star. [volume] (Washington, D.C.) 1854-1972, January 12, 1932, Image 13

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Evening star. [volume], January 12, 1932, Page A-13, Image 13
About Evening star. [volume] (Washington, D.C.) 1854-1972

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Evening star. [volume] (Washington, D.C.), 12 Jan. 1932. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn83045462/1932-01-12/ed-1/seq-13/>

Newspaper Page Text

OFFICERS ELECTED
BY TERMINAL CO.
VWilltam D. Hoover Joins
Board of Directors—Year’s
Business Satisfactory.
BY EDWARD C. STONE.
At the annual meeting of the stock
holder of the Terminal Refrigerating
& Warehousing Corporation, held yes
terday at the head offices at Four-and
a-Hait ana u
Btreets southwest,
William D. Hoover,
president of the
National Savings &
Trust Co., was
elected to the
Board of Directors.
Directors re-elected
at the meeting in
clude:
Clarence A. As
pinwall, Henry N.
Bravrner, jr.;
W r i s I e y Brown,
Charles A. Carry,
Appleton P. Clark,
jr.: G. W. Forsberg,
William M. Han
nay Ralph W. Lee, William D. Hoover.
Robert D. Mar
shall, Clarence F. Norment. Simeon T.
Price and William P. Reeves.
Col. Wrisley Brown, president of the
company, reported a highly satisfactory
year's business when general conditions
are taken Into consideration. At a re
cent meeting the directors declared the
regular semi-annual dividend of $1.50
per share and an extra dividend of 25
cents per share. That action In itself
shows how business has been moving
during the past 12 months.
The company is now 50 years old It
has cojd storage, ice manufacturing
and a general storage business, together
with car icing, truck delivery and a
Very close connection with the freight
yards of the Pennsylvania Railroad.
Business in recent years has shown a
very healthy advance.
Banks Elect New Directors.
Results of the annual meetings of
the stockholders of many Washington
banks, held today, appear elsewhere in
The Star. The Washington Loan &
Trust Co. added two members to the
board, the Commercial National two,
the Franklin National one and the
Union Trust Co. one. Other banks re
elected the same stockholders. The
Security Savings & Commercial Bank
and the National Bank of Washington
held their organization meetings right
after the stockholders’ meetings, the
same officers being re-elected. Some of
the others are organizing later today,
but most of them will elect officers for
the year later in the week.
Junior Bankers Arrange Dinner.
Richard W. Hill, national secretary of
the American Institute of Banking, will
be honor guest of the Washington
Chapter Thursday evening at a dinner
at the Ralegib Hotel. The dinner is for
the members of the faculty, committee
chairmen and the board of consuls and
is held at this time in connection with
the opening of the second semester.
The educational chairman this year is
Richard Norris. The chief address of
the evening will be made by Mr. Hill
and several Important announcements
regarding the banking courses for the
last half year will be included.
Treasury Issue Oversubscribed.
Secretary Mellon today announced
acceptance of bids totaling $50,175,000
on 91-day Treasury bills dated January
13 and maturing April 13, 1932.
Bids on the bills, offered on January
7, were opened at the Federal Reserve
banks.
The total applied for was $169,337,000,
The highest bid was 99.368, equivalent
to an annual interest rate of about 2^
per cent,,, and the lowest bid accepted
was 99 245. equivalent to an interest
rate of about 3 per cent.
Mortgage Officers Re-elected.
All officers and directors of the Mort
gage Investment Co. of Washington,
Inc., were re-elected yesterday at the
annual meeting. They are A. S. Gardi
ner, president; Harry R. Carroll, vice
president; Fred J. Neuland, secretary;
Ivan K. Strasburger, treasurer. Direc
tors, John N. Auth, Harry R. Carroll,
A. S. Gardiner, Fred J. Neuland, E.
W. Petherbrldge, Ivan K. Strasburger,
Charles Stanley White, Ernest G. Wal
ker and C. W, Witherow.
Women Seldom Lapse Insurance.
When a woman starts a life insur
ance savings account she does not drop
the plan as frequently as does the man
who starts such a plan. The exact fig
ures, according to a survey made by
one of the large old line companies, In
dicates that men change their minds
and their insurance savings plans one
third more often than do women.
The survey also indicates the fact
that when an immediate member of
the family Is named as the beneficiary
the insurance is maintain"' with great
er frequency than when a man's estate
or his business is the beneficiary.
Today’s Trading on Exchange.
Peoples Drug Stores preferred open
ed trading on the Washington Stock
Exchange today, two 5-share lots sell
ing a 80'-. These were the first sales
recorded on the local board since the
annual report came out a fewT days ago
showing a gain of over 4 per cent in
sales, compared with 1930; also that
December sales were more than 4 per
cent above the business done in De
cember. 1930.
Capital Traction stock was stronger
than It has been for some time, 10
shares changing hands at 20, following
the last previous sale at Capital
Traction 5s appeared on the board in
a $500 sale at 60.
Washington Gas 6s, series B, came
out in a $1,000 sale at 103‘,4, while
$2,500 Washington Gas 5s sold at lOO3,*.
AVERAGE CASH DIVIDEND
RATE DROPS TO $1.96'
Special Dispatch to The Star.
NEW YORK, January 12.—The
weighted average cash dividend rate
for «00 active stocks at the beginning
of January amounted to SI.96, com
pared to $2 04 on December 1 and
$3 05 at the peak registered in March,
1930. according to the monthly compu
tation issued today by Moody's Invest
ment Service. Average yield on the
295 active stocks listed on the New
York Stock Exchange increased from
10 44 per cent to 11 55 per cent during
the manth of December, the analysis
adds. The latter yield compares closely
with the peak of 12.04 per cent estab
lished at the low prices of October 5
of last year.
The December rise in average yield
occurred despite the fact that ' the
month was a particularly bad one from
the standpoint of dividend reductions,
Moody's comments. Adverse dividend
action was especially severe in the case
of machinery an railroad companies.
Rail dividends nov show a 54.8 per
cent drop from their peak level, as
contrasted with a 43 per cent decline
for industrials and a loss of only 6.9
per cent for utilities. For 21 bank
stocks the reduction from the peak
amounts to but 3.4 per cent.
"The announcement of so many im
portant reductions and omissions In
the recent past has undoubtedly been
an important contributory cause of
sharp declines in stock prices,” the sur
vey states. "Such a result is inevitable
with the creation of widespread doubts
as to the permanence of current divi
dend laUs. 1
“Annual dividend totals for the en
tire 600 stocks, as of January 2, were
at the rate of $1,804,820,000, as against
a rate of $2,465,710,000, one year
earlier and $2,608,050,000 on January
2, 1930.”
I NEW YORK STOCK EXCHANGE
WwirfTrtl hr Private Wire Direct te The Star OSm. I
Stock* sold la lto-ibsre M> except these declreetcd be •*•*** .T*:
- l»Ji . Stock end Sues—
Hl*h. Low. Dividend Rate. Add 00. Kith. Low. Clote. Cnte.
144 2 Abltlbi Pwr ft Paper 2 24 24 24
62 44 Abltlbi Pow ft Pa pf> 1 6 6 6
2*4 84 Adams Express...... 12 64 44 — 4
20 124 Affiliated Prod 1.60.. 2 144 144 144
1094 474 A!rReductlon(t«H). 4 614 61 61
204 7 Alaska Juneau (60e) 10 184 13 13 ~ j;
124 14 Allegany Corp. 60 24 24 2 4 4
694 2 AllegCppf 110 ww.. 3 64 54 64 + 4
59 14 Alleg Cppfw 140 w., 2 64 64 54 +14
464 10 Allegheny Steel 60c.> 60t 12 12 12
1824 64 Allied Chemical (6). 60 704 674 684 -14
424 104 Allls-Chalmers(50c). 17 12 12 12
23 114 Amerada Corp <!)... 1 134 134 134
624 124 Am Bank Note (2)... 1 164 164 ]64
1294 684 Am Can Co <tS). 140 624 604
384 44 Am Car ft Foundry.. S 74 74 74 14
86 204 Am Car ft Fdy pf (7) 110s 29 28 28 4
484 304 Am Chicle (tl). 1 334 , 334 334 + 4
14l% 5 Am Cornel Alcohol... 1 7V4 7V4 <*4 + *
3Sln 7H Am European Secur. 6 H
614 64 Am ft For Power 136 84 74 84 + 4
90 18 Am ft For Pwr pf (6). 1 284 284 284 + 4
100 20 Am ft For Pwr pf (7). 4 32 31 32 +2
794 10 Am ft For Pwr Jd pf, 10 164 144 15
64 87 Am Home Prod 4.2*.. 2 46 454 454 -1
*14 104 Am Ice (2).9 16 15 154-4
26 5 Am International.... 12 64 6 6 —4
14 4 Am La France&Fom. 12 4 4 4
15 14 Am La FrftFoarapf. 40s 24 24 24 + 4
804 6 Am Locomotlye..... 2 74 74 74 4
844 294 Am Lo'raotlTe pf (7) 1 86 85 35
434 16 Am Mch ft Fdy 1.41.. 8 *1 204 204 -4
7 14 Am Mach ft Metals.. 4 24 24 24 + 4
234 44 Am Metal Co , 2 64 64 64 -4
894 1 Am Natural Gaepf.. 180s 14 14 14
644 114 Am Pwr ft Lt (21)... 22 164 154 16 +4
214 5 Am Radiator (*0e).. IS 84 74 74-4
124 14 Am Republics. 3 24 2 24 + 4
874 74 Am Rolling Mills.... 10 94 84 84 -4
684 174 Am Smlt ft Rfg(50c). 17 174 164 164 + 4
1024 46 Am Sm&R 2dpf(t).. 1 474 474 474 + 4
1104 974 Am Snuff pf («). 10s 954 964 954 +64
44 4 Am Solv ft Chemical. 6 4 4 4
814 5 Am Steel Foundry... 8 74 7 7 —4
484 83 Am Stores (t2%)... 2 334 384 334
60 344 Am Sugar Ref (S)... 2 374 374 S74 + 4
1084 844 Am Sugar Ref pf (7) 1 87 87 87 + 4
2014 1124 Am Tel ft Teleg (I).. 250 1194 1164 117 -14
1284 604 Am Tobacco (5). 4 724 71 714 + 4
1*24 64 Am Tobacco B (5)... 24 73V, 724 724 -4
804 2*4 Am Water W'ks <*).. 14 304 294 294 -4
114 24 Am Woolen Co...... 2 4 1 *
40 154 Am Woolen Co pf... 4 204 19 19 • -1
4 4 Am Writ Paper ctfs.. 2 4 4 4 .
4*4 94 Anaconda Copper.... 71 114 114 114
*6 18 Anchor Cap (2,40)... 1 IS 15 16-4
18 8 Areher-Daniels (1).. 1 1° 22 22, ~ ™
72 20 Armour of Del pf (.11 6 874 87 874 + 4
44 4 Armour of 111 (A).... 8 14 14 14
24 4 Armour of 111 (B)... 6 4 4 „ r*
* 14 Arnold Constable.... 2 24 24 24 — 4
284 14 Associated Apparel., 1 24 24 24 + 4
294 64 Associated Dry Gds.- 3 64 64 64 - 4
*0*4 794 Atch To ft San Fe(6> 80 884 864 87 —14
1084 75 Atch To&SFepf (6). * 844 82 844 +44
120 25 Atl Coast Line (4)... 7 41 39 894 -4
214 84 Atlantio Reflning (1) 25 104 94 10 +4
184 24 Atlas Stores (1). 1 6 5 5 + 4
2964 844 Auburn Auto (f4)... 227 1424 1854 1874 -34
24 4 Austin Nichols.. 1 4 * 4 + 4
24 4 Autosales. 1 ^ T/*
64 2 Aviation Corp (Del). 4 3 3 3 —4
274 44 Baldwin Locomotlye 7 74 64 64 — 4
1044 15 Baldwin Loco pf... .■ 340s 244 23 2S — 4
874 14 Baltimore ft Ohio.... J44 194 184 184 — 4
66*. 18 Bang ft Aroos (34).. 3 214 21 21 —4
10 14 Barker Bros. 10s 2
144 4 Barnsdall Corp’n.... 88 6 4 5 54
90 60 Bayuk Clg 1st pf (7) , 150s 59 69 59
81 *7 Beatrice Cream (4).. 3 42 404 404 — 4
174 14 Am Beet Sugar pf... 10s 34 34 84 +4
804 544 BelgNRptpf t4.81. 3 614 61 61 —4
264 124 Bendlx Aviation (1). 28 174 174 174 — 4
46V, 194 Best ft Co (*). 12 284 224 224 - 4
704 174 Bethlehem Steel (8). 30 204 194 194 -4
29 6 BlawKnox (50«).... 14 74 74 74 — 4
43 164 3ohn Alumn (14)... 2 194 194 194 -14
66V, 49 Bon Ami <A) <f5>... 6 49 49 49 +1
7*4 864 Borden Co (J)....... 28 184 864 87 — 4
804 9 Borg Warner (1).... 4 11 104 104 — 4
224 74 Briggs Mfg (1)- 8 9 84 84 -4
694 814 Bklyn-Man Tran (4). 7 854 344 844 —1
1294 724 Bklyn Union Gaa (6) 3 804 80 804 + 4
94 14 Bruns Term ft Rwys. 8 14 14 14 — 4
204 84 Bucyrus-Erle.. 2 44 44 44 — 4
844 44 Bucyrus-Krie cy pf.. 3 7 64 7 + 4
54 14 Budd (EG) Mfg....i 2 24 24 24 + 4
18 24 Budd Wheel..j 2 34 84 84 -4
28 84 Bullard Co. 2 44 44 44
824 10 Burr Add Mch (1)... 3 124 12, 12
81 154 Bush Terminal(2 4) ■ * 17 16 1 17 +1
694 104 Byers <A Ml Co. 5 134 13 13+4
63 8 California Packing.. 4 9% 9% 9% + %
11% 3 Calumet A Hecla. 2 " 3% 3% 3% + %
45 10% Canada Dry (1201... 4 12 11% 11% + %
45% 10% Canadian Pacific 1%. 18 14 13% 13% — %
35 17 Cannon Mills (1.60). 1 18 18 18
16 4% Capital Admin (A).. 1 5% 5% 5% — %
131% 33% Case (JI) Co. 172 35% 34% 34% - %
116 53 Case (J 1) pf 47).... 40s 75 75 75 +5
53% 10% Caterpillar Trac (3). 5 13 12% 12% — %
26 6% Cavanaugh-Dobba pf 26s 7% 7% 7% — %
16 2% Celanese Corp.. 6 4 3% 8%
33% 9% Cerro de Pasco (1).., 12 14% 18% 13% — %
7% 2% Certaln-teed Prod... 1 2% 2% 3% - %
38% 8% Checker Cab Mrfg... 4 6% 6% 6%
46% 33% Ches&Ohlo (2%)... 140 30% 29% 29%-%
54% 13% Chesapeake Corp(3). 67 19% 18% 18% — %
7% 2% Chi Great Western.. 6 4% 4 4% — %
37% 7% Chi Great Westn pf.. 8 14 13% 13% + %
8% 1% Chi Mil 8tP A Pac... 6 2% 2% 2 %-%
15% 2% Chi Mil StP A Paopf. 39 6 4 4% — %
46% 6 Chic A Northwstn... 83 9% 8% 8% — %
116 13% Chi A Northwestn pf 3 21 21 21 +1%
16% 8% Ch! Pneu Tool.. 7 5% 4% 5% + %
65% 7% Chicago R IAPaclflc. 9 15 13% 13% - %
90 10% ChlRIAPac6% pf. 4 19 18 18 -%
101 12 Chi RIAPac7% pf. 5 22% 22% 22% -1
33% 5% Childs Company. 2 6% 6% 6% - %
38 11% Chile Copper. 10s 8 8 8 + %
25% 11% Chrysler Corp (1)... 197 14% 14% 14% — %
87% 25% City IceAFuel (3.60) 2 27% 27% 27%
4% % City Stores. 3 % % % — %
84% 15 Cluett Peabody (2).. 1 17 17 17
170 97% Cocoa-Cola (tl)-- 24 112 109 110%+%
68% 45% Coca-Cola (A) (3)... 1 46% 46% 46% + %
60% 24 Colgate-Pal-P (2%).x 8 28% 28% 28% + %
82% 6% Colo Fuel A Iron.... 4 9% 9 9 — %
48 7% Colorado A Southern, 1 12 12 12 +2%
46% 11% ColumbGAEl(bl%). 65 14% 13% 13%-%
109% 72% Col GasAEl pf A (6). 8 74 72% 74 +1%
111% 82 Columbia Carbon (3) 16 36% 35 85% — %
33vt 8 Comm Credit (1.60).. 23 10% 9 9% + %
85% 19% Cornel Credit A (I).. 1 22% 22% 22% -rl
92 62 Cornel Cred lst(6%). 20s 60 60 60 +1
84 15% Cornel Inv Trust (2). 28 20% 18% 19% +1%
90 60 Comm Inv cvpf(e6). 3 65% 64 65% +3%
31% 6% Cornel Solvents (1).. 14 8% 8% 8% + %
12 3 Comwlth A Sou(SOe) 80 4% 4% 4%
100% 46 ComwlthASou pf (6) 1 66% 66% 66% + %
14% 6% Congolm-Nalrn (1).. 1 8% 8% 8% — %
73 42 Consol Cgr pr pf 6%. 60s 69% 56 57 +1%
70 42% Con Cgr pr pf xw 6% 60s 58% 58% 58% +3%
80 61 Consol Cigars pf (7). 30» 68 66 66 —6%
15 3% Consol Film.. 15 5 5 — %
18% 7% Consol Film pf (3).. 2 10% 10 10 — %
109% 67% Consol Gas N T (4).. 84 42% 60% 60% — %
107 88 Consol Gas NT pf (5) 6 93 92% 92%
1% % Consol Textile. 2 % % %
8% % Container Corp (A).1 4 2 2 2
3 % Container Corp (B).. 1 % % % — %
80 4% Conti Baking (A).... 2 6% 6% 6%
3% % Conti Baking (B).... 7 1 % % — %
77% 40 Conti Baking pf (I).i 1 44% 44% 44% — %
62% 30% Conti Can (2%). 7 35% 35% 35% - %
16% 3% Cont Diamond Fibre. 14 4 4
61% 18% Cont Insur (2.40)...i 2 22 22 22 - %
4% 1 Conti Motors. 13 1% 1% 1% + %
12 4% Conti Oil (Del).. 61 6% 6% 6% + %
12 % Conti Shares.- 11 % % %
86% 86% Corn Products (I)... 10 44% 43% 43% — %
152% 118 Corn Prod pf (7).... 20s 129% 129 129%
18 276 Coty Inc. 2 4 4 4
34% 20 Cream of Wht(t2%). 4 22 21% 21% + %
38% 13% Crown Cork (2.40).. 2 14% 14% 14% + %
63 20 Crucible Steel. 1 21% 21% 21%
106 36% Crucible Steel pf (7) 10s 46 46 46 -1
2% % Cuba Cane Products 2 % % %
48% 29 Cudahy Packing (4). 8 31% 31 31%+ %
5% 1 Curtiss Wright 11 1% 1% 1%
8% 1% Curtis Wrleht (A).. 10 2% 2% 2% + %
107 68 Cushmans pf (3).... 10s 71 71 71 +1
23 3% Davison Chemical... 4 4% 4% 4%
22 13% Deere A Co pf (1.40). 2 13% 13% 13% + y4
157% 64 Delaware A Hud (9). 3 79% 79 79 +1
102 17% Delaware Ljck AW.. 22 27% 26 26% + %
45% 3% Denver A R'Q W pf.. 3 7% 6% 7% +1%
13% 6% Dome Mines (1).... 4 8% 8% 8% 4 %
24 11 Dominion Stores tl% 1 14% 14% 14% - y4
27 20% Dresser Mfg A (3 %) 3 21 20% 21 + %
78% 42% Drug Corn (4). 1° 53% 52 52 —1
14% 10 Duplan Silk (1)..... 1 10 10 10
107 50% Dupont de Nem (4).. 108 65 53% 53% —1
124% 94 Du Pont de N pf (6). 1 99% 99% 99% — %
185% 77 Eastman Kona* it*) a ni io'i <8% — ty4
1S5 103 Eastman Kod pf <S). 30* 116 116 116 +4
21% 6% Eaton Axle* Spr 60c. 2 6% 6% 6% — %
11% % Eltlngton-Schlld.... 3 % % %
69 7% Eltlngton-Schlld pf.. 6 10 8% 8% + %
74% 20 Elec Auto Llta (4)... 19 29% 28% 28% - %
9% 2% Elec&Mualcal Xnstru 144 4 3% 3% + %
60% 9 Elec Pwr A Lt (1)... 73 12% 11% 11% — %
98% 32 Elec Pwr A Rt pf (4). 2 49% 49'% 49% — %
66 23 Elec Storage Bat (4) 1 29% 29% 29% _i
45% 23% Endlcott-Johnson(I) 2 31 80% 31 +2
115 98% Endlcott-John pf (7) 1 102 102 102 +1%
87 42 EngPubSVcpf (6). 1 44% 44% 44% +2%
35% 18% Eqult Office Bldg 1% 2 18% 18% 18% _ %
39% 5 Erie HR. 9 9% 8% 8% _ y,
45% 6% Erie R R 1st pf. 4 11% 10% 10%-%
40% 5 Erie RR 2d pf. 1 9 9 9 - %
29% 8% Falrbanks-Morae... 4 6 4% 6 + %
15% 1% Federal Screw Wlui.. 2 1% 1% ]%
30 3 Fed Water Serrlce A. 8 4% 4% 4% — %
27% 10% Fed Dept Store* (1).i 2 14 14 14
68 41 First Natl 8tra (I%) 3 49% 48% 48%-%
. % % Flak Rubbqi.. 0 % % %
.-mi-. Stock and Bale*—
Hl«h- Low. Dividend lute. Add 00. Hlrh. Low. CHo»e Ohta.
6414 8 Foster-Whseler.3 10 9V, 9H - Mi
171* 214 Foundation Co. 1 314 314 814 - *4
8214 15*4 Fourth Nat Inv (1.10' 1 19 19 19 - H
88*4 214 Fox Film (A). 26 4*4 414 414
4814 1314 Freeport-Tax (1)_ 9 1814 18 18-14
714 214 Gen Am Investors... 2 8 8 8 — 14
7314 28 Gen Am Tank Car(4) 8 82 SU4 S1H + S
47 9*4 Gen Asphalt (8>. 9 14 1314 13V,
26*4 9*4 Gen Baking (1)_ 6 18*4 1SH 13H - *4
9% 1*4 Gen Bronsa.„. 1 2** 2** 2*4 + V*
IS m Gen Cable.v.~i 1 2*4 2*» 2*4 + 14
2514 214 Gen Cable (A)., fi 5H 1 6 + *
4814 25 Gen Cigar (4). 4 84 84 84 +1%
117 93 Gen Cigar pf (7).... BOilOO 100 100
64*4 2214 Gen Electric (1.10).. 116 24** 23N 24V* - 14
12'4 10*4 Gen Klee speo («0o).. 2 11M, 1114 1W
66 28V* GenFoodCorp fl).. 13 35*4 8414 S4'4
814 1*4 Gen G&EA(b6%stk) 8 214 2 2 - 14
92 80 Gen Gas&El pf A(S). 80* 30H 80S 80*4 + *4
60 29H Gen Mills (3)_.... 4 34 34 34
48 21V. Gen Motors (1). S75 23*4 22*4 22H - *4
103*4 79*. Gen Motors pf (*)... 1 831* 83'4 8314 + V4
1014 3v* Gen Outdoor Adv.... 13 4 3*4 4
31 10V4 Gen Printing Ink(2). 20* 12 12 12
23 2*4 Gen Public Service.. 2 4 4 4 -H
8414 21 Gen Ry Signal (5)... 8 26'4 24’4 24*4 -1
74>4 13*4 Gan Realty* Util pf. 1 13'4 1314 1S'4 — 14
15H H Gen Theatre Eaulp.. 14 114 1 1
88*4 9V* Gillette SafRasor... 80 13*4 12*4 12T4 - H
76T4 46 Gillette Saf R pf (6). 10 61M 6U4 61H + *4
16M. 414 Glidden Co.* 1 5** 5*4 5**
9*4 8*4 Gobel (Adolf).. 4 6V, 6 6 - 14
4214 14*4 Gold Dust (I*4*7 18*4 1814 181* + H
11714 85 Gold Dust pf (6).... 1 90 90 90 +4
2014 8*4 Goodrich (BE. 9 5V* 5 5-14
68 10 Goodrich (BF) pf... 1 16 16 16
62*4 18*4 Goodyear T&R (1).. 21 16H 151* 1514-14
91 85 Goodyear 1st pf (7).. 5 49** 49 49 +1
13*4 8*4 Gotham Silk Hosiery 2 9 9 9
6*4 114 Graham-Palga. 124 4*4 4*4 414 + 14
22*» 614 Granby Consol (60s); 2 7 7 7 — M
25H 1V4 Grand Silver Stores.* 1 2** 2*. 2*4 + 14
1814 7 Grand Union.- 2 7*4 7*4 9*. - 14
46 21 Grand Union pf (I).. 2 27*. 27 27*. + 14
42 2414 Grant IWT) (1)_ 2 28*4 2714 27H - *4
69*4 16*4 Great Northern pf (3) 8 24 23*4 28*4 + 14
1174 6% Great Western Bug., 16 6 6
6*4 1 Grigsby Grunow.... 38 1*4 1** lv»
1*4 14 Guantanamo Sugar.. 1 \ V* V4 V4 + *4
2714 3H Gulf Mob & Northn.. 3 71* 7 7M +4
3714 4 Gulf States Steel_ 2 614 6V, 614 - M
_ _ _ _ ... * van nn OO 1
ouyw nacaeasacR v> \ a / ■* *'> ***'
9% 1% Hahn Dept Store*... 4 IS 1% l*1*
19% 11 Hall (WF> (1.20).... 2 11% 11% 11%
42 8% Hawaiian Pineapple. 100* 10 9 % 9% - %
136 128% Helme (GW) pf (T)., *0* 124% 124% 124% -8%
8 1 Hayes Bod yCorp... 1 1% 1% !% + *
119% 95 Hercules Pow pf (7). t0« 96 95 9o +2 |
108% 68 Hershey Choc (6)... 1 79% 79% 79%-%
8% 1% Hoe (R) A Co. 1 1% 1H 1% + %
182% 81 HomestakeM (7.20). 4 125 121 122 -3%
9% 2% Houdallle Hershey. < 2 3% 3% 3%
68% 15% Houston Oil.* 18 22% 20 20 - %
14% 8 Houston Oil (new).. 81 4% 4% 4%
29% 11% Howe Sound (2).... 11 16% 14 16% + %
44% 26% Hudson A Man (2%) 1 29% 29% 29% -1
26 7% Hudson Motor (1)... 15 11% 10% 10%-%
1SH S% Hudd Motor*. 17 5Mi 5 5Vi — H
89 9% Illinois Central.' 72 16 14% 14% + %
78 25 Illinois Cent 11 (4).. 20s 30 30 30 i
86 21 Indust Rayon (4)... 5 27% 26% 26% +2%
182 25% Initersoll Rand (4).. 4 33 31% 22% +1
71 19% Inland Steel (2). 6 22 21 21 - %
11% 8 Inspiration Copper., 1 3% 3% 3%
12% 4% Ins Shares(Del) 50c. 860* 8 6% 7% +1%
9% 2% Insur Sh(Md)(23s). 1 3 3 3 +%
24 4% Intsrboro Rap Trans 4 7% 7% 7% — %
4% % Intsrcontl Rubber... 2 % % %
15 2% Interlak* Iron. 2 3% 3% 8%
179% 92 Int Bus Machlne(nl) 2 103% 102% 102% -3%
62% 16 Int Cement (I). 2 17% 17% 17% + %
4 % Int Combustion..... 24 .1% 1 1 + %
89% 8% Int Combustion pf..» 8 9% 7% 9% +2%
80% 1% Int Comb pf ctfs.,.. 2 6 4% 6 +3%
60% 22% Int Harvester (2%). 5 26 25 25 — %
81 9% Int Hydro El A (#2). 18 10% 10% 10% + %
78% 11 Int Match pf (4)- 19 21% 20 20 +%
20% 7 Int Nickel of Can 20# 88 8% 8% 8% - %
4% % Int Paper APwrC... 2 % % %
43% 6% Int Paper A Pwrpf.. 9 8% 8% 8% — %
16% 4% Int Printing Ink...1 4% 4% 4%
42 18 Int Salt (2). 5 20% 20 20 -1
54 37 Int Shoe (2). 1 39% 39% 39%
51 15% Int Sliver. 2 18% 17% 17% -1%
90% 60 Int Silver pf ((7)...i 10s 63 53 53 +1
38% 7% Int Tel A Telss-(«0c). 143 10% 9% 9% - %
21% 8 Int Dept Stores (2).. 4 10% 9'% 9% —1%
8OH 15% Johns-Manyllle (1).. '64 22% 21 21% -1
123% 68 Jones * Laugh pf (T) 10a 82 81H 82 + %
45 6% Kansas City Souths. 2 11% 11% 11% -1%
18 5% K’mann Dept StrsO' 3 6% 5% 5% — %
101% 10 Keith-Albee-Orph pf 1 20 20 20 — %
3% % Kelly-Soring Tire... 3 1% 1% 1% — %
29% 3 Kelsey-Hayes Whssl 2 4 3% 3% — %
15% 6 Kelvlnator Corp.... 24 8% 8% 8% — %
*1% 9% Kennecott Copper 60c 60 12% 11% 11% — %
41 12% Kimberly Clark 2%.. 3 19% 19 19% + %
70 5 Kinney (G R) Co pf.. 10s 12 12 12 +3
29% 15 Kresge (S 8) (1.60).. 3 17% 16% 17 +%
65 26% Kress (SH) Co (jl).. 1 35 35 35 -2
27% 4% Kreuger* Toll 1.11). 93 7 6% 6% + %
35% 12% Kroger Grocery (1). 15 14% 14% 14%
87% 40% Lambert Co <*}. 4 52% 61 51 -1
101% 72 Leh PortCmtpf (7). 10s 75 75 75 +2%
8% 1% Lehigh Valley Coal.. 1 2% 2% 2%
61 8 Lehigh Valley R R.., 6 18 16 16 - %
69% 25 Lehman Corp (2.40). 4 40% 38 38 —2%
84% 18% Lehn*Fink (*).... 1 20% 20% 20%-%
20% 6% Llbbey Owens Glass. 2 7 6% 7
91 89 Liggett * Myers(t6) 2 60 50 60 + %
91% 40 Ligg * Myere B (tl) 8 60% 48% 49% —1%
34% 12% Lima Locomotive. ... 2 16 16 16
66% 13% Liquid Carbonic (2). 2 16% 16 16 — %
68% 23% Loew's. Inc (t4).... 23 29% 28% 28% — %
98 66 Loew's Inc pf (6%).. 1 64 64 64 +2
6% 2% Loft Inc. 7 3% 3 8% + %
21% 10 Lorillard (P) (1.20). 6 13% 13% 13% - %
102% 74% Lorrillard (P) pf (7) 1 77 77 77 +1
36% 17% LouGas&El A (lit). 6 20% 20 20 -%
111 20% Louisville* Nash(4) 14 80% 28 28 -2
19 4 Ludlum Steel. 1 4 4 4
”S6 15% McCall Corp (2%)... 1 17% 17% 17% + %
93% 64 McCrory Strs pf (6). 10s 55 56 65 —4
26% 12 McIntyre Pore M (1). 6 15% 15% 15% — %
103% 88% McKeesport T P (4). 6 60% 47% 48 -2%
17 3% McKesson * Robbins 1 4% 4% 4%
10% 1% McLellan Stores. 6 3% 3% 8% + %
70 28% McLellan St pfA(6). 70s 82 80 80 -2
43% 12 Mack Trucks (1)- 12 16 15 15 — %
106% 50 Macy'(RH)* Co(nl). 2 58% 57 67% -2%
7% 2 Madison Sq Garden.. 6 2% 2% 2% + %
61 25 Manhat Elev gtd (7). 10s 30 30 SO —2%
39 6% ManhatElev mod gtd 6 10% 10 10 — %
3% % Maracaibo Oil Exp.. 1 % % % + %
24% 9% Marine Midld (1.20). 9 11% 10% 11% + %
10 1% Marmon Motor Car.. 2 2 1% 1% — %
31% 12 Mathieson Alkill (2) 2 15% 15 15
89 15% May Dept Strs (8%) 3 18 17% 18 + %
8% 2 Mengel Co. 1 2% 2% 2% + %
27 16 Met-Gold Pic pf 1.19. 1 20% 20% 20% + %
10% 2% Miami Copper. 6 4 8% 4 + %
16% 6 Mid Continent Petm. 8 6% 5% 6
81% 7 Midland Steel (8)... 2 8% 8% 8% — %
% % MInne & St Louis. ... 4 % % % — %
45 5% M StP & SSm lsd (4) 20s 11 11 11 +2
26% 3% Mo Kan & Texas 48 7% 6% 6% — %
85 10% Mo Kansft Texas pf. 32 18% 18% 18% — %
42% 6% Missouri Pacific..... 61 9% 8% 8% — %
107 12 Missouri Pacific pf. . 95 20% 18% 18% — %
21% 7% Mohawk Carpet. 19 9 9
29% 6% Montgomery Ward.. 127 9% 9 9% — %
% % Mother Lode. 2 % % %
47% 15 Motor Products (2). • 1 24% 22% 22% —1%
19% 5 Motor Wheel (50«).. 3 6 5% 6% + %
36% 8% Mullins Mfg. 33 12% 11% 12% +1%
72% 20 Mullins Mfg pf.150s 26 24% 25% +2%
31% 11 Munsingwear Inc(2). 1 11 11 11 — %
18% 5 Murray Corp. 3 6% 6% 6% — %
40% 15 Nash Motors (2)- 15 17% 17% 1 j% — %
80 12% Nash Chat * St L(3) 40s 27% 28% 25 +5
10% 2% Nat Acme Co. 2 2% 2% 214 + %
10 % Nat Bella Hess. 220 % % % + %
32 3% Nat Bella Hess pf..., 1 4 4 4 +%
88% 36% Nat Biscuit (2.80),.. 10 41% 41 41 — %
39% 7% Nat Cash Reg (A),.. 1 10 10 10
50% 20 Nat Da.ry (2 60).... 18 23 4 23 23 -%
36% 16 Nat Dlst Prod (2)... 4 20 19% 20 + %
120% 100 Nat Dead pf B (6)... 20s 108% 102 103% +3%
44% 10% NatPwr&Lt (1)..., 23 15% 14% 14% + %
58 18% Nat Steel (2). 6 21% 21% 21%-%
76% 10 Nat Surety (2). 8 14% 14% 14%-%
14% 4% Nev Con Cop (40c).. 18 6 6% o% - %
' 3% 1% Newport Industries.) 1 2 2 2
24 2% Newton Steel. 1 3% 3% 3% - %
132% 24% NT Central. 203 33% 31% 81% -1%
88 2% NT Chicago* St L.. 17 9% 9 8% + %
94 6 N YChi&StLpf.... 8 10% 9% 9% + %
12% 1V4 N Y Investors. .. 3 1% 1% 1% + 4
94% 17 N Y, N H & Hartford 45 26% 24% 25% — %
119% 62 NYNH&Hpf (7).. 6 78 75 78 +3
13% 5% N Y Ont & Western.. 10 8% 7% 7% - %
12% 2% NY Shipbuilding.... 3 4% 4% 4%
118 94 N Y Steam 1st pf(7). 30s 104 104 104
29% 10 Noranda Mines (2).. 8 14 134 184
217 105% Norf* Westn (tl2). 5 124% 124 12* .-1
93 65% Norf & Westn pf (4) 50s 72% 68 72% -2%
11 2% North Am Aviation. 8 4 3% 3% - %
90% 26 Nor Amer(bl0%stk) 78 84% 33 84 + %
57 40% North Amerpf (*)... 2 45% 45% 46% - %
107% 79 North Am Ed pf (6).• 2 83 81% 88 +2%
60% 14% Northern Pacific 2).. 29 22% 20% 21 %
47% 21 Northwest Tele (3).. 10s 25 25 26 -2
19% 6% Ohio Oil. 21 6% 6% 6% - %
6% % Oliver Farm Equip.. 1 1* 1% 1% *
26 2% OllvFarm Eq prpf.. 1 3% 3 4 34 -%
6% 1% Omnibus Corp. 84 2% 2% 2% + H
75 4% Orpheum Circuit pf.i 60s 12% 11% H - %
58% 16% Otis Elevator (2%).. 6 22 20% 20% —1%
16% 3% Otis Steel. 3 4% 4 4 -r%
69% 8 Otis Steel pr pf. 20s 10 10 10 %
39% 20 Owens 111 Olass (I). 1 21% 21% 21% — %
54% 29% Pacific Gas & El (I).. * 34% 84% 34% - %
69% 35 Paciflo Lighting <5). 1 39% 39% 89% + %
11% 8% Packard Motor (40c) 27 6% 6 5 - %
.(Continued on S^ge 14.). ._j
Profft Taking on Recent Ad
vance Checks Forward
Movement of List,
BY GEORGE T. HUGHES.
Special Dispatch to The Star.
NEW YORK, January 12.—There was
not so much snap to the stock market
today, as it showed signs of hesitation
and less support after enjoying a future
advance at the opening based on the
quick passage of the Reconstruction
Finance Corporation bill by the Senate.
The fact that since the low levels
were established a week ago the rails
had had an average advance of 7 points,
industrials an average over 9, and Pub
lic Utilities more than 3 points, led
to some profit taking and a smaller
volume of transactions. The rail group
held its leadership, with advances in
the first hour ranging from 1 to 2
points. The largest gains were in the
shares of Southern and Western lines.
Await Legislation.
The professional attitude toward the
market was that It had made a good
recovery since touching its low point
on January 5 and had to some extent
discounted the developments in Wash
ington and in Chicago that are ex
pected to come to a climax on Thurs
day. Consequently, there was a dispo
sition to await the conclusion of legis
lation to improve credit and the nego
tiations over railroad wages before in
creasing commitments on the long side
of the market.
Realizing sales in the rails were fol
lowed by a similar policy toward indus
trial and public utility leaders, includ
ing United States Steel, American
Telephone & Telegraph, Auburn Auto,
Consolidated Gas, American Can and
Allied Chemical. The copper shares
made a slight response to higher prices
for copper metal sold abroad.
Less attention was paid to the Ger
man situation and the resignation of
the French cabinet was an incident
without adverse effect on the markets
here or abroad. In fact, cables re
ported higher prices in both London
and Paris, and sterling exchange ad
vanced over 2 points.
Easier rates were quoted for money,
with outside day loans as low as 2%
per cent. It is anticipated that a re
turn to somewhat the same conditions
of abnormal money supplies as oc
curred a few months ago will be a de
velopment in the first quarter of this
year, and therefore there is no ex
pectation of a further increase of re
discount rates.
The main adverse influence today
was the continued decline in Govern
ment bonds and Treasury certificates.
This went on in contrast with rising
quotations for corporation loans, in
which the railroad junior obligations
again figured conspicuously. There was
also a recovery in numerous low-grade
industrial bonds that were quoted a
few weeks ago at receivership prices.
Opening Prices Higher.
The market opened higher.
A block of 1,500 shares of United
States Steel appeared at 43, up %.
American Can at 62 was up %. Amer
ican Telephone at 118% gained !4.
General Motors rose a fraction to 23%.
News developments were of diverse
character. The Senate passed the re
construction finance bill. Copper prices
were advanced. Negotiations for a
merger of Prairie Pipe. Prairie Oil &
Gas and Sinclair Oil were completed.
London securities firmed. Sterling here
opened at $3.41, up 2% cents. Crude
oil output increased.
Anaconda Copper advanced % point
to 11%, as did Nickel at 8% and Ken
necott at 12%. Cerro De Paso at 14%
was up %. Westinghouse Electric at
25% was up %• National Biscuit at
41% gained %. New York Central rose
% to 32%. New Haven at 26 was
up %. Southern Pacific at 34% ad
vanced 1. Southern Railway at 12%
was up % and Baltimore & Ohio at
19% was up %. J _ .
Consolidated Gas at 61^8 Inter
national Telephone at 10% each gained
% Standard Gas & Electric was
up % at 30%. North American was
up % at 34. Sinclair Oil at 6 was un
changed. American Tobacco B opened
up 1 at 73'% and the common was up
1% at 72%.
_•
CLEARING HOUSE FIGURES.
Washington Clearing House figures
for today: $4,086,699.16.
--•...
SILVER QUOTATIONS.
NEW YORK, January 12 UP).—Bar
sliver steadier and. ',gC higher at 30c.
U. S. TREASURY BALANCE.
The United States Treasury balance
announced today as of close of business
January 9 was $412,333,547.39. Cus
toms receipts for the month to date
were $9,886,648.51. Total ordinary ex
penditures were $11,488,816.03
NEW YORK BANK STOCKS
NEW YORK, January 12 (/P).—Over
the-counter market. , .
Bid. Asked.
Banks.
Chase . 344-, 3644
Chat Phenix . ,1944 3144
Commercial National . 140 iJB
First National N Y .1890 1990
National City . 4444 46 /.
Public . 2° 22
Trust Companies.
Bankers' . *4 88
Brooklyn . 1®3 205
Cent Hanover . 139 i”
Chem Bk & Tr . 284. 30,4
Cont Bk & .. 10 *2
Corn Exch. 5a
Guaranty . 279 284
Irving . I®,1 22, *
New York .. 78/2
LUMBER EXPORT DROP
TO NEW ZEALAND NOTED
Bt the Associated Press.
United States exports of lumber to
New Zealand dropped off 90 per cent
during the first 10 months of 1931 as
compared with the same period of the
previous year.
A report to the Commerce Depart
ment States the high exchange rate,
the practical cessation of building in
New Zealand, the decreased income of
the New Zealander and the depreci
ation of sterling all combined In cut
ting down purchases from 18,500,000
board feet in 1930 to less than 2,000,000
feet during the 1931 period.
Trade from this county was hit
harder than the general average, as
imports from all countries during the
period amounted to 16,835,000 feet in
1931 as compared with 60,969,000 feet
in 1930, a decline of 72 per cent.
Broker Suspended.
NEW YORK, January 12 UP).—The
board of governors of the New York
Curb Exchange has suspended for six
months the membership of Oeorge
Rosenfeld.
It was announced that the action was
taken under the sections of the consti
tution dealing with the ethics of trad
ing, but the exchange declined to dis
close any information regarding the spe
cific offense with which Rosenfeld was
charged.
Rosenfeld was "a private floor broker
and not a member of any firm.
PARIS BOURSE PRICES.
PARIS, January 12 (TP).—Three per
cent rentes, 79 Irancs 10 centimes. Five
per cent loan, 101 francs 75 centimes.
Exchange on London, 87 francs 12%
centimes. The dollar was quoted at 25
francs 52 centimes.
DIVIDENDSDECLARED
_ t
NEW YORK, January 12 (TP).—
Extra.
Pe- Pay- Hldrs. of
Company. Rate. rlod. able. record
Springfl Ry Pf (’28)..75c .. Jan. 2 Dec. 19
Omitted.
Company. Rate. Period. Due.
Am Com Po 1st pf .Jl 50 Q Jan. 1
Dempst Mill Mf Co . 50c Q Jan. 15
Hammond Clock.50c Q Jan. 15
Imper Sug Co 17 pf..75c Q Jan. 1
Do. 7% Pf.75c Q Jan. 1
Logan Square State Bk
(Ohl) .$6 A Jan. 2
Nat Lo Co 7% A pf.S1.75 Q Jan. 1
Produ Royal Cor 2%% Stk Oct. 15
Security Stor B pf.. S6 A Dec. 15
Terre Haute Nat Bk
& Tr.$5 8 Dec. 31
Western Po L & T A 50c Q Feb. 2
Regular.
Pe- Pay- Hldrs. of
Company. Rate. riod. able. record.
Ark Mo Po 7% pf.41.75 Q Peb. 1 Jan. 15
Atl Coast El S6 pf.41.50 Q Feb. 1 Jan. 9
Aeolian Co Mo 2d pf.$2 Q Jan. 2 .
Aloe (A S) Co Pf .41.75 Q Apr. 1 .
Do. pf.*1.75 Q July 1 .
Do. pf.*1.75 Q Oct, 1 .
Am St Bk (Bl'ming
ton) .*4 Q Dec. 31 ..
Bk of Calif N A. . 42.50 Q Jan. 15 Jan. 8
Calif Basic Ind.25c Q Jan. 2 .
Cham of Com (Ind)
pf . *1.37% Q Jan. 1 Dec. 20
Circle The Cor ... 41.75 Q Jan. 1 Dec. 20
Clev C C & St L.$5 S Jan. 30 Jan. 21
Do pf.*1.25 Q Jan. 30 Jan. 21
Calgary Po 6% pf.41.50 Q Peb. 1 Jan. 15
Colonial Ho 7% pf43.50 S Jan. 15 Dec. 3f
Cream of Am $3.50 ser
A conv pf.87%c Q Dec. 1 Nov. 5
Dist Co Ltd Am Dep
Rec For Ord....ls 6d .. Feb. 6 Jan. 11
Do. Ord (reg).-.ls 6d Feb, 1 Dec. 31
Eagle Lock Co... 62%c Q Jan. 1 Dec. 39
Flrem Ins (Newark) ,30c Q Jan. 25 Jan. 15
First Nat Bk (Medford.
Mass.) .$2 S Jan. 2 .
Fitchburg G & E L..68c Q Jan. 15 Jan. 6
Ft Collins Con Roy ,.lc Q Jan. 1 Dec. 15
Freeman Dairy pf.41.75 Q Jan. 1 .
Fulton Ind Secur (At
lanta) .12%c .. Feb. 1 Jan. 15
Do. $3 50 Pf.87 %c Q Feb. 1 Jan. 15
Heller (W E) & Co..10c Q Dec. 10 Dec. 27
Do. pf. ,4334C Q Dec. 31 Dec. 27
Hook Drugs (Ind).12%c Q Jen. 1 Dec. 20
Indust Tr (Prov).$4 Q Feb. 1 Jan. 20
Lyon Metal pr pf.41.50 Q Feb. 1 Jan. 20
Metro Ind 8% pf 50%
pd ctfs.75c Q Feb. 1 Jan. 20
Michigan Cen RR. $25 6 Jan, 30 Jan. 21
Nash Motors.50c .. Feb. 1 Jan. 20
Nat Carbon pf.42 Q Feb. 1 Jan. 20
Natl Coml Bk & Tr
(Albany) .*5 Q Jan. 15 Jan. 8
Nat Indus Loan. . ,32%c Q Feb. 15 Jan. 31
New Eng Inv & S pf.42 S Jan. 2 Dec. 19
Springfl Ry pf ('26) 42 S Jan. 2 Dec. 19
Union Old Lowell Nat
Bk (Loewell).*1 Q Jan. 15 Jan. 4
Sevannah Sug pf. 41.75 Q Feb. 1 Jan. 15
U S N Bk (San Diego>41 Q Jarw- 2 Dec. 31
Univ Winding pf.41.75 Q Feb. 1 Jan. 20
Van Dusen Har pf.tl.75 Q Jan. 1 Dec, SO
FOREIGN EXCHANGE.
(Quotations furnished by W. B. Hlbbs & Co.)
Nominal gold Selling checks
value. today.
London, pound.$4.8665 $3 41
Paris, franc. 3.91%c 3.92c
Brussels, belga.13.91c 13 89c
Berlin, mark. 23.82c 23.70c
Rome, lira. 5.26c 5.06c
Zurich, franc. 19.3c 19.4ic
Athens, drachma. 1.3c .
Madrid, peseta. 19.3c .
Vienna, schilling.14 07c ..
Budapest, pengo-- 17.49c ..
Prague, crown (nom.) 2.964c 2.96%c
Warsaw, zloty. 11.22c •••••.
Copenhagen, crown . 26.8c 18.75c
Oslo, crown. 26.8c
Stockholm, crown.... 26.8c 19.05c
----• - ..—
U. S. TREASURY CERTIFICATES
(Reported by Chas. D. Barney & Co.)
Rate—Maturity. Bid ,„„°3er
23,s June 15 1932. 99 30-32 100
2s Mar 15 1932 ... 99 28-32 99 31-32
1%, Sept. 15, 1932 . 98 12-32 98 18-32
3s Sept 15 1932...... 99 24-32 99 26-32
3%s d£. is. 1932.::..: 99 24-32 99 27-32
SHORT-TERM SECURITIES.
(Reported by Chas. D. Barney. & Cn)^
Allls-Chalmers Co. 5s 1937 ... 84 90
American Chain Oo. 6s 1933.. 88,a 86%
American Tel. & Tel. 5 As 1943 103
Am**r Wat. Wks. & El. 5s 1934 89 90
Baltimore it Ohio 4%s 1933.79% 81
Belding Hemingway Co. 6s 1936 83 . 90
Bethlehem Steel 5s 1636 25 25$
Canadian Nor. Rwy. 4%s 1935. 84 84^
Chi. Northwestern R. R. 5s 1933 65 79 a
Chicago Rock Island 4s 1934 60 .....
Cleve. Lor. & Wheeling 5s 1933 93 10O
Colorado & So Rwy. 4%s 1935 86 94,»
Commercial Credit Co. 5%s 1935 85 87
Delaware & Hudson Co 5s 1935 83 85
Denver & Rio Grande 4%s 1938 60 68
Gen. Mot. Accep. Corp. 6s 1937 99 99,«
General Petroleum Corp 5s 1940 98% 100
General Public Service 5%s 1939 76% 77
Grand Trunk of Canada 6s 1936 89 ,2 90
Houston E. & W. Texas 5s 1933 91 98
LaUcTedee Gas Light C3o: i»-i9i4: 93 * 94%
Igyulsville & Nashville 5s 1937. 90 97 A
New York Cent. &: H. 4s 1934_ 88 a 89
New York. Chi. & St. L. 6s 1932 29 32,2
Northwestern Telep. 4‘'3S :*934
Penna. R. R. Co. 6%s 1936.100 100%
Portland General Elec 5s 1935 97 98 4
Republic Iron & Steel 5s 1940. 67 10
Sinclair Crude Oil Co. 5%s 1938 93% 94 »
l?ULheirM SaR?C R5S& G 4s‘l93i '69% 71%
Union Elec. Lt. & Pow. 6s 1933 991. 100
Union Oil Co. of Calif. 5s 1935 92 92 /.
Virginia Rwy. & Power 5s 1934 97% 98
Wabash Rwy. Co. 5s 1939. 75 7(
_ . _ XteSClVC U.
Charter No, 4247. REPOrt OP CONDITION
OP THE
Lincoln National Bank
Of Washington, in the District of Columbia, at the close of business on December
311 1931 •
J f RESOURCES. .$3,659,674.76
1. Loans and discounts. 1 056 30
2. Overdrafts ...j. i qsn’niq 38
3. United States Government securities owned. i n«n ri r 88
4. Other bonds, stocks and securities owned. ci' ‘ " ’qfin’qoo 90
6. Banking house, $338,857.36; furniture and fixtures, $22,0*9.54.... 360,906.90
7. Real estate owned other than banking house.
8. Reserve with Federal Reserve Bank. cos’l l 3 80
9. Cash and due from banks. •uiaa'afi
10. Outside checks and other cash items-■ ■ • • • • --- • • • • •••••• ’
11. Redemption fund with U. S. Treasurer and due from U. S. Treas- ^ ^ ^
i4. ot^assets:::::::::::::::::::::::::::-^-^------------- i2^944
Total. $7,926,428.02
LIABILITIES.
15. Capital stock paid in. $innnno nn
18. Reserves for dividends, contingencies, etc. iis'tinnn
20. Circulating notes outstanding ............... ... •. 115,740.00
21. Due to banks, including certified and cashers’ checks outstanding ,.59,972.61
22. Demand deposits .
23. Time deposits . 3,7?2’2™
24. United States deposits ...
26. Bills payable and rediscounts ..
31. Other labilities .. 36,418.61
..•••••»••»•»»••* •••••••••••••••••• ,#•••••••••• $7,926,428.02
District of Columbia, ss.: , ,
I. JAS. A. SOPER, cashier of the above-named bank, do solemnly swear
that the above statement is true to the best of my knowledge and belief.
JAS. A. SOPER. Cashier.
Subscribed and sworn to before me this 8th day of January, 1932.
(Seal.) HELENA D. REED, Notary Public.
Correct—Attest: _
QEO. C. PUMPHREY,
HOWARD R. NORTON,
FLOYD E. DAVIS,
ALBERT 8. GATLEY,
CHANNING 8. WALKER.
Directors.
EXPANSION IN OIL
INDUSTRY PUNNED
Western States to Benefit by Use
of $340,000,000 for Improve
ment Program*
Special Dispatch to The Star.
NEW YORK, January 12 —Farmers
in the oil producing States are entering
1932 with the feeling that the worst is
over, according to T. S. Hose, consultant
of the Petroleum Exchange.
“They have analyzed the future,”
says Mr. Hose, “in a way that it would
be well for some of our business execu
tives in the manufacturing States to \
do it. They know, because they are
continually in touch with the repre
sentatives of the major oil companies,
that approximately 6,581 miles of wells
will have to be drilled without charge
to them on their lands next year.
"This approximately 35,750,000 feet
will mean a total amount of approxi
mately $340,000,000 will be spent in
their sections, or $9.51 for every foot
drilled. Of this amount they will di
rectly benefit by $122,400,000, which
will be paid in wages. There will be
$13,600,000 spent for 'trucking and
teaming and it is always policy to deal
with the local people. Approximately
$163,200,000 will be spent for materials
from companies who number their
stockholders by the thousands in the
oil-producing States. In addition to
this, out of approximately 13,000 wells
that will be drilled, 10,400, say the law
of averages, will produce an amount of
oil sufficient under proration so so that
their royalty, y8th, will add to the
general income about $15,000,000 for
the year.
"Another fact which these fanners
have taken into consideration is that
the country expands as its transporta
tion facilities expand, In these days of
automobiles it might be said that this
country will expand as its highways do,
and the expansion along these lines has
been tremendously rapid. The 3-tier
8nd 4-tier concrete road is rapidly re
placing the narrow macadam and this
enables either a truck or a pleasure car
to travel 100 miles in a much shorter
time than could be possible over four
roads. Strange as it may seem this has
had important bearing on the gen
eral tendency toward optimism prevail
ing in the oil district.
Bank Liquidation,
NEW YORK. January 12 (Special).—
The figures of loans on securities of
the Federal Reserve member banks show
a decrease of $90,000,000 for the week
ending January 6. After several weeks
in which the contraction In such loans
had been small.
SUPPORT FOR CARRIER
STOCKS AIDS MARKET
Special Dispatch to The Star.
NEW YORK, January 12.—The long
unpopular rails have turned against
their stock market enemies and are
leading the recovery. From the low
average level of December 17, a group
of 25 railroad stocks now shows a 25
per cent improvement. This is even
bettered by some of the lower priced
and non-dividend paying rails, which
have recovered from 30 to 35 per cent.
Traders and investors alike are now
kicking themselves that they did not
buy those rail stocks with a strong
financial structure when they were
quoted close to receivership prices &
month ago. A bkoker who came up
from the South at the end of last week
over the Atlantic Coast Line and was
most favorably Impressed by its physical
condition said today that he had shown
poor judgment tn not accumulating a
line of this stock when It was quoted
In the range between 30 and 35 last
month, and along with It Louisville <55
Nashville at about $20 a share. Both
of these stocks are paying dividend*
of $4 a share. Sentiment, has swung
around sharply in favor of a probable
slow but steady development this year,
in the credit position of the carriers
through the benefits from the Recon
struction Finance Corporation, the re
duction in wages and salaries, higher
freight rates and a very good chance
of a larger movement of traffic.
—— ' . |
FIRST
MORTGAGE
NOTES
Secured on conservatively
appraised residential proper
ties. Every mortgage pro
tected by fire insurance and
title guaranteed by responsi
ble title companies.
IN DENOMINATIONS OF
$250
and upwards
BOSS & PHELPS
Realtors
HIT K St. NAtlonal MOO
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We Give Property Management Personal Attention
vj^UR Property Management Department is in
charge of expert experience—and it i&4he benefit
of this service you have when you place your
properties in our care—Apartment House, Office Build
ing, Residential and Business Properties,
You’ll find us able to bring revenue and outgo into
the proper relation—and to your greater profit—re
lieving you of all concern with details.
PROMPT remittance is the
INVARIABLE rule of this office
Em1)ALL H.HAGOTR & COMPAJTT
Mortgage Lavx C okkb sjpondeti'
1321 Connecticut Ave. Decatur 3600
PROPERTY MANAGEMENT
t
Apartment House
MANAGEMENT
^LL those problems of rental
and of keeping the property
up and the overhead down
come under our service in con
nection with the management of
apartment house properties—
and for a very nominal fee.
Let gs go into specific details
with you concerning your
apartments.
B. F. SAUL CO.
925 15th St. N.W. Nat’I 2100
MORTGAGE LOANS
FINANCING
AT LOW COST
First Mortgage Funds
(three years or longer)
Loans on residences and business buildings,
in District of Columbia and nearby Maryland
suburbs . . . Ample funds, lower interest,
prompt approvals, valuable prepayment privi
leges— and the competent counsel of over
forty years’ experience in this field.
♦
H. L. Rust Company
»ESTABLISHED X8S9 - JL »
1001 15i Street National 8100
Loan Correspondent for “ The Prudential”

Evening star. [volume], January 12, 1932, Page A-13, Image 13
About Evening star. [volume] (Washington, D.C.) 1854-1972

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Evening star. [volume], January 12, 1932, Page A-13, Image 13
About Evening star. [volume] (Washington, D.C.) 1854-1972