Evening star. [volume], June 29, 1932, Page A-14, Image 14

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

Image provided by: Library of Congress, Washington, DC

                
Increase of $92,403 Reported
for First Five Months
of Year.
BY EDWARD C. STONE.
For the first five months of 1932 the
Washington Gas Light Co. reports a
gain in net earnings of $92,403.30. com
pared with the Jike period in 1931, ac
cording to the financial statement Just
filed with the Public Utilities Commis
lion, covering May and the year to date.
Operating revenues for the first five
months of the present year totaled
$2,823,469.90 against $2,844,599.28 *
year ago; expenses, taxes, etc., called
for $1,775,559.51, compared with the
higher figure last year of $1,865,683.76,
leaving a total income from operations
of $1,047,910.38, in comparison with
$978,915.52 in the same period in 1931.
Gross corporate income reached the
sum of $1.078.8£2.29 against $970,
950.92 The amount required for bond
interest each year was the same. $302,
073.02, leaving a net Income, after all
deductions, amounting to $726,966.37 in
comparison with $634,563.07 a year ago,
or the above-mentioned increase of over
$92,000.
Earnings for the month of May also
Indicate that the gas company has very
successfully ignored the depression, or
better still, coped with it in a most vig
orous manner. Operating revenues in
May amounted to $522,638.31 against
$510,901.88 a year ago. Operating ex
pense.* and other deductions called for
$349,334.01. compared with $342,235.64
in May. 1931. leaving an operating in
come of $173,304.30, against $168,
666.23
After all other deductions, the Wash
ington Gas Light Co. had a net income
of $101,825.75 against the slightly high
er figure in May a year ago of $106,
138.01.
Pope Names Committee Chairmen.
President C. H. Pope of the District
of Columbia Bankers' Association, today
announced the chairmen of the asso
ciation's standing committees for the
coming year, as follows:
Advertising, Eliot H. Thompson, pub
licity manager Washington Loan &
Trust Co.; audit, Robert H. Lacey,
cashier Columhia National Bank: bud
get, George O. Vass, vice president and
cashier Kiggs National Bank: credit
bureau, Frederick P. H. Siddons, sec
retary American Security & Trust Co.;
Insurance. Frederick H. Cox, cashier
Commercial National Bank; law and
legislation, Francis G. Addison, jr.,
president Security Savings & Com
mercial Bank; public relations, W. W.
Spaid, partner in W. B. Hibbe & Co.;
protective, C. F. Jacobsen. cashier Na
tional Metropolitan Bank; standard
ized banking forms, Nelson B. O'Neal,
assistant vice president Riggs Na
tional Bank; taxation, Henry H. Mc
Kee, president National Capital Bank;
Treasury relations, Hilleary G. Hoskin
son. vice president Riggs National
Bank.
The list of names shows that Mr.
Pope has taken gieat care in selecting
bankers particularly well fitted to head
the various committees during the com
ing year. The problems facing the
banking business last year requffed the
attention of the most experienced
bankers. No doubt the present year
will demand this same astuteness.
Several of the chairmen of last year's
committees have accepted appointment
for another year. Mr. Thomson has
been head of the Advertising Com
mittee tor years. Mr. Addison has
served the Legislative Committee for
about the same length of time and
Mr McKee has done an unusual
amount of committee work. One new
committee has been added, a Commit
tee on Public Relations, in charge of
W. W. Spaid.
Latest Trade Reports Spotty.
Latest reports from the 12 Federal
Reserve Districts indicate spotty con
ditions. Cleveland reports a pick-up
in the steel business, St. Louis reports
a holding up in the dollar volume of
trade, while the Kansas City area an
nounces a better farm outlook.
Chicago trade has been helped by
convention visitors, but recent bank
failures have had their depressing ef
fect. San Francisco is experiencing
better shipping conditions and also
notes a gain in automobile sales. Tex
tile mills in the Philadelphia area are
more active although the market for
building materials still drags.
New England reports building con
tracts up to the average, a slight in
crease in retail sales and a better de
mand for leather and shoes. Growers
are selling their wheat in Dallas, Tex.,
and conditions are said to be better in
that region in spite of low prices.
General trade conditions in Atlanta
are displaying slight improvement, al
though pre-war prices are now pre
vailing in many lines. The relief prob
lem is still acute, but unemployment
shows, a little brighter tone. Auto sales
are better. The first Georgia peaches
are now on the market.
Georgetown Gas learnings l'p.
Earnings of the Georgetown Gas Co.
in May showed a small increase over
May, 1931, according to the report filed
■with the Publip Utilities Commission.
The company reported operating rev
enues of $101,498.28, against $102,590.58.
After the deduction of operating costs,
the operating income item stood at
$14,979.33, against $14,717.26 a year ago.
Other deductions left a total net in
come for the month of $11,901.85, com
pared with $11,631.56 a year ago.
For the first five months of 1932 the
Georgetown company reported operat
ing revenues amounting to $599,341.17,
this item last year standing at $583.
147.71. Following deductions for oper
ating expenses, bond interest and other
payments, the company had a net in
come of $81,495 86 against the lower
figure of $67,293.21 in the first five
months of 1931. or a ?ain so far this
year of $14,202.65.
Itinerant Bank Service Started.
A "traveling banker" to minister to
the needs of communities deprived of
banking facilities through closures has
been inaugurated by the Ionia National
Bank, in Michigan.
On Tuesdays and Fridays the "bank,"
an ormored car with machine guns as
protection, will spend one hour each
in the smaller towns of Belding, Or
leans. Muir, Lyons and Clarksville.
All the usual banking business from
deposits and cashing of checks to mak
ing loans will be conducted. Where
possible, the building and equipment
of closed local banks will be used.
Gleanrd in Financial District.
Trading on the Washington Stock
Exchange today was confined almost
wholly to the bond issues of the Wash
ington Gas Light Co., at recent levels.
The only stock sale was in Washington
Railway & Electric preferred, which
sold at 77 Vi
Notices in local broker offices an
nounce that the New York Stock Ex
change and the Curb Exchange will be
closed Saturday as well as Monday.
The Washington Exchange is closed
everv Saturday during the Summer, re
gardless of any holidays such as July 4.
The Advertising Club of Washington
will give a testimonial luncheon to
William F. Ham, president of the Wash
ington Railway & Electric Co. and Po
tomac Electric Power Co., tomorrow
noon at the Raleigh. The testimonial
is in connection with the project which
he has planned for Buzzards Point.
The Interstate Commerce Commis
sion has approved the extension of an
$8,000,000 Reconstruction Finance Cor
poration loan to the Chicago. Milwau
kee. St. Paul & Pacific Railroad for
a three-year period. Th<- funds will
be used to pay July 1 and July 15 equip
ment trust maturities and interest, to
gether with other minor financial items
Mi# from additions and betterments.
*
TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE
Daylight Sarin* Tine I» I'Kd In AU Market Edition».
,-Prer. 1932 — Stock and Sale»— Net.
High. Low. Dividend Rate. Add 00. Hith. Low. Clo»e. Ch»«.
24 10 Abrm & Straus 120.. 1 10 10 10 -2*.
6»i 1% Adams Express ι 2 2 2 2
164 44 Affiliated Trod 1.60. .. 1 44 44 44
624 344 Air Reduction(t44). 36 35', 344 35*.
164 74 Alaska Junea,u (50c). 22 84 74 8*»
64 Ήι Alleg Cp pf J40 w*.. 1 4 * 4
874 424 Allied Chem & D(6) 149 474 454 464
114 4 Allis-Chalmers(50c). 29 54 44 5
10 5 Alpha Port Cement.. 2 5 5 5
184 5 Am Bank Note · 16 6 6
90 404 Am Brake Sh pf <7) .. 70» 45 45 45
734 294 Am Can Co <+5> 297 334 314 324
129 934 Am Can Co pf (7) 1 96". 964 964
84 34 Am Car & Foundry. . 3 34 34 34
394 164 Am Car & Fdy pf (7). 10» 18 18 18
374 18 AmChlcle ( t3 ) 1 21 21 21
154 11 Am Com Alcohol new 2 13 124 124
104 24 Am European Seeur.. 3 3 3 3
94 2 Am & Foreign Pwr.1 24 24 24
614 25 Am Home Prod 4.20.. 10 27 264 254
214 9 Am Ice (2) 8 114 11 11
68 40 Am Ice pf (6) 1 444 444 444
84 24 Am International.... 2 34 3 34
94 4 Am Locomotive.... .< 7 34 34 34
444 234 Am Locomot pf (7).. 5 224 21 21
224 74 Am Mch & Fdy 1 40.. 1 74 74 74
64 14 Am Metal Co 1 14 IK 19»
164 3 AmPwriLtU) 29 44 4 4
494 13 Am Ρ Λ Lt pf A (5>.. 1 104 104
58 154 Am Pwr & Lt pf (6). 6 154 154
84 34 Am Radiator 16 84 *4 34
120 80 Am Radiator pf (7).. 20» 75 75 75 -5
13 3 Am Rolling Mills 2 44 44 44 + V
294 134 Am Safety Raz (3).. 5 144 14 144 + l
184 54 Am Smelt & Ref 14 64 64 64
85 22 Am Smeltg & Ref pf. 13 24 24 24 +1
103 90 Am Snuff pf (6) 80» 934 934 934
84 3 Am Steel Foundry... 1 34 34 34
80 354 Am Steel Fdry pf(7). 10» 36 36 36
394 13 Am Sugar (2) 2 16 16 16
6 24 Am Sumatra Tob.... 2 34 34 34
1374 754 Am Tel & Tele* (9).. 249 774 764 774
864 404 Am Tobacco (16).... 4 48 474 48
894 44 AmTobaccO Β ( 16)... 123 50% 484 50
344 11 Am Water Wks (2).. 21 124 114 124
75 26 Am Wat W 1st pf (6). 1 364 364 364
34 14 Am Zinc & Lead 1 14 14 14
124 S4 Anaconda Copper.... 67 3\< 34 34
174 54 Anchor Cap (1.20)... 2 74 74 74
44 14 Andes Copper 1 14 14 14
44 24 Armour of Del pf (7). 11 28 27 28
2 4 Armour of 111 ( A) ... 3 4 4 4
14 4 Armour of 111 (B).. .ι 5 4 4 4
24 4 Associated Apparel.. 2 4 4 4
84 3 Asso Dry Goods 3 3 3 S
94 174 Atch Topeka & S Fe., 175 194 184 194
86 424 Atchison pf (5) 4 43 424 43
414 94 Atlantic Coast Line.. 4 114 104 11
124 84 Atlantic Refining (1), 2 104 104 104
794 46 Atlas Powder pf (6).. 180» 484 454 484
1614 284 Auburn Auto (f4).... 12$ 48 45 47
4 4 Austin Nichols 2 4 4 4
34 14 Aviation Corp (Del). 6 2 .14 14
8 Baldwin Loco pf... .ι 10» 9 9 9
34 Baltimore & Ohio. ... 5 5 44 5
6 Baltimore & Ohio pf.. 4 64 64 64
94 Bangor'&Arostk (2) .. 1 12 12 12
34 Barnsdall Corp 2 44 44 44
164 Beatrice Cream (2).. 1 174 174 174
24 Belding-Hemingway. 9 4 4 4
574 Belgian Nat Rwys pf. 3 594 594 594
44 Bendlx Aviation 7 54 5 54
74 Bethlehem Steel 9 8 74 74
24 Bethlehem Stl pf (7). 1 214 214 214
204 Borden Co (2) 17 214 204 214
34 Borg Warner 4 34 34 34
24 Briggs Mfg Co 3 4 34 4
114 Bklvn Manhat Tran., 83 154 144 164
314 Bklyn-Man Tr pf (6). 17 444 42 484
234 Bklyn&Queens pf (6). 1 27 27 27
14 Brunsw-Balke 1 14 14 14
14 Bucyrus-Erie 1 2 2 2
24 Bullard Co 1 24 24 24
64 Burr'ghs A M (80c).. 6 7 64 7
24 Bush Terminal pf( 7). 30» 22 22 22
44 California Packing. . 6 5 5 5
74 Canadian Pacific 1% · 36 84 84 8K
104 Cannon Mills (1) 1 104 104 104
164 Case (J I) Co 130 234 214 224
30 Case (J I) pf (7) 50» 32 32 32
44 Caterpillar Trac 50c. 1 44 44 44
14 Celanese Corp 12 2 2
74 Cent Aguirre (14 ) · · 2 IS1» 13 13
24 Century Rib Mills... 1 44 44 44
34 Cerro de Pasco 1 44 44 44
14 Checker Cab Mfgr... 1 2 2 2 +
94 Ches & Ohio (24)··· 103 104 94 10 +
44 Chesapeake Corp (2). 5 54 54 54 —
24 Chi Great West pf. .. 2 44 4 4
4 Chi Mil StP & Pac.. .· 1 4 4 4 -
IV* Chi Mil StP & Fac pr. i IV, IV, IV,
2 Chi & Northwestern.. 10 2% 2% 2%
6% Chi & Northwest pf.. 16 5 6
2% Chi Pneu Tool pf 1 21* 2% 2%
Hi Chi Rock I & Pacific.. 6 2% 2V* 2%
2 Chi R 1 & Pac 6% pf.. 3 3% 3% 3%
8 Chi Yellow Cab (2).. 60· 8% 7V* 74
5 Chrysler Corp ( 1 ).. .· 66 6Vi 5% 5%
14% City Ice&Fuel (3.60). 2 15 15 15
% City Stores 18 % % %
3% Clark Equipment.. ..· 1 3V* 3V* 3%
80% Coca Cola ( + 8 ) 66 82% 80% 82»
12% Colgate-Pal-P (2%).. 10 12% 12 12 -
65 Colg-Palm-Ppf (6).. 1 73 78 73 -2
5 Colorado & Southern. 2 4% 4% 4% -
4% Columbia Gas (bl)... 10 6V* 5% 6
40 Col Gas&El pf A (6)., 1 43 43 43 -1
13% Columbian Carb (3).. 13 16** 16V4 16% +
3% Cornel Credit (50c)..· 6 4 3% 4
11% Cornel Cred pf (1%).. 20» 12V4 12% 12% +
10% ComclCred pf Β (2). 10» 11% ID* 11% +
10% Cornel Inv Trust (2). 6 12*» 12 12 -
3% Cornel Sol ν < 60c) 10 4% 4% 4% —
1% Comwlth & Sou(30c). 27 2% 2 2% +
27% Comwlth&Sou pf (6). 5 35 34% 35 —
6% Congolm Nairn (1).. 5 6% 6% 6% —
16 Con Cgr pr pf xw 6% . 10s 22% 22% 22% —
2% Consol Film pf 2 3% 3V« 314 +
31% Consol Gas Ν Y (4). . 174 36H 34% 36
72% Consol Gas NY pf ( 5 ). 3 80% 80 80
5 Consol Laundries(l). 1 δ% 6% 5%
4 Consol OH Corp 67 5 4% 6
79 Consol Oil pf (3) 2 »4 94 94
2% Contl Baking (A).... 2 3% 3% 3V4
17% Contl Can (2%) 19 19V4 18% 19
6% Cont Insurance(1.20) 4 9V4 9 9
3% ContlOil (Del) 21 4% 4 4%
% Contl Shares 17 % % %
25% Corn Products (3)... 31 28 26% 27%
1% Coty Inc * 4 1% lv* 1%
13% Cream of Wht t2% .. 1 13% 13% 13V*
2% Crosley Radio 4 2% 2% 2%
7% Crown Ck & S (120). 12 13·* 12% 12%
16'/« Crucible Steel pf 360» 15V, 15 15
H Cuban-Am Sugar.... 1 . % % %
9% Curtis Publishing. .. 15 8 7 7
47 Curtis Publish pf(7). 1 61% 61% 61%
% Curtiss Wright. .. . ..41 % %
6% Deere & Co pf (40c).. 2 6% 6Vi 6%-%
35 Delaware & Hud (9)., 3 36% 36 36V4 ■'•lit
8% Delaware Lack & W.. 11 9% 9 9—1
62 Detroit Edison (8)... 2 62% 62 62% + %
12 Diamond Match (1).. 13 14Vb 14 14
20% Diamond Mtch pf 1 % 2 22 22 22
7% Dome Mines (11 20).. 3 9% 9% 9%
5 Douglas Aircraft ( 1 ) 3 5% 5V4 5V4 — %
7% Dresser Mfg A (3). .. 1 8 8 8 - %
23 Drug Corp (4) 21 26% 25% 26% + %
24 Dupont de .Vera (3). . 258 24% 23% 24 - %
87 Duques Lt 1st pf (δ). 100* 88 88 88 -3
5'4 1 Eastern Roll Mills... 1 1% 1% 1%
87% 37% Eastman Kodak (5).. 18 40% 38% 40 4- %
32% 8V, Elec Auto-L (1.20).. 2 9% 9% 9%-%
4 1% Elec&Musical Instru. 3 1% l>/« 1%
16% 2% Elec Pwr & Lt 35 3 2% 2%
33% 12% Elec Storage Bat (3). 1 17% 17V* 17% + %
107V4 98 Endicott-John pf (< ). 1 100% 100% 100", - %
13% 2% Erie R R Istpf 4 3 3 3 - Vu
~64 30 Fed Lt & Trac pf <6). 10» 30 30 30 - %
10% 3 Fed Wat Service A.. 13 3 3
27% 6 Fidelity·Phoenl 20.. 4 9 8% 9 — %
69% 45% Firestone T&K pf(6). 8 47 46% 46% — %
63 37 First Natl Str* (2%). 4 41 40 41 -fl
10 4% Florshelm Shoe (A).. 2 5 5 5
12 3 Foster-Wheeler. .... 1 5V4 6% 5V4
21% 10V4 Fourth Nat Inv 120.. 3 12% 12 12V4 + %
5% 1% Fox Film (A) 1 1% 1% 1%
19% 10 Freeport-Texas (2).. 1 10V4 10V* 10%
17'4 5% Gamewell Co 150» 6'* 6V4 6% + %
3% % Gen Am Investors. .. 5 % % % + %
35% 9% Gen Am Tank Car(l). 20 10V* 9% 10
19S 10V* Gen Baking (2) 1 11V* 11% 11% r %
105% 90 Gen Baking pf ( 8)... 10» 95 95 95 45
101 75 Gen Cigar pf (7) 10» 80 80 80 - %
26'i 8V4 Gen Electric (40c)... 148 9% 9V4 9% + %
11V, 10% Gen Elec spec (60c).. 7 10% 10% 10%
40*, 19** Gen Foods 12) 41 20Vi 19% 19%-%
2% - % Gen Gas & Elec (A).. 1 % % %
24% 3 Gen G&E cv pf A(p6) 2 4% 4% 4% +1%
25 18% Gen liai Edis (2.06).. 2 19V* 19V* 19V* - Vi
37 28 Gen Mills (3) 2 29% 29% 29% + %
88 77 Gen Mills pf (6) 1 77 77 77
24H 8 Gen Motors (1) 225 8% 7% 7%-%
87V4 59V4 Gen Motors pf (5)... 4 61 60% 60% + %
4 3V4 Gen Outdoor Adv.... 3 3 2% 2% — %
28% 7% Gen Rwy Signal (1).. 1 8 8 8 +1
1% % Gen Realty & Util 8 V4 % %
14% 2 Gen Refractories.... 18 2 1% 2
24% 10% Gillette Saf A: (1). 9 12% 12 12%
68V* 45 Gillette Saf R pf (S). 3 47 46V4 47
7 3V4 Glidden Co 2 3% 3% 3%
6'» 2% Gobel (Adolf) 2 4% 4% 4%
19% 8V» Gold Dust (1.60) 18 10V4 10 10
6% 2V4 Goodrich (Β F) 8 2% 2% 2%
18% 5V* Goodyear Tire&Rub. 1 6V* 6% 6%
14V* 7% Gotham Silk Hosiery 6 14% 14V* 14V,
35% 22 Grand Γηίοη pf (3). . 3 22% 22V* 22V*
30V, 14% Grant (W Τ) (1) 2 15*4 15%
26 5% Great Northern pf » 17 67* 6H
6% 3% Great Western Sug. . 10 4% 4%
1% V* Grlgshy Grunow.... 18 % *
v. Ά Guantanamo Sugar. . A %« % %
28 19 Hacken Wat pf A 1% 10» 21% 21% 21%
28% 14% Hercules Powder (2) 2 15 15 15 - %
83 44, Hershey Choc (6).... S 46 44 , 44 -2
»
83 bt Hershey Choc pf t. 1 #0 60 60 - fc
<—Prer. 1932^ Stock and Sale»— J5et·
Hlch Low. Dividend Rate. Add 00. High. Low Close. Ch«e.
11% 8 Holland Furnace (1). 1 8% 8*4 8*4 — S
131*4 110 Homestake Mln (9).. 3 125 12* 125 — *
4 1 Houdallle Hershey. .< 4 1*4 1*4 1*4
57*4 42*4 Househd Fin pi 4.20.. 1 43% 43»» 48% +
24% 8% Houston Oil.· 1 10% 10% 10*4 +
5*4 144 Houston Oil (new)..ι 2 2*4 2*4 2% +
48 24% Hudson Man pf (5).. 3 29% 2»% 29%
11*4 2% Hudson Motor Car... 11 4% 4% +
544 1*4 Hupp Motors 1 1'4 1% »'*
18W 4% Illinois Central 11 6% 5H 6*4 +
26% 12 Illinois Central pf. .. 1 10 10 10 -2
36 15** Illinois Cent 1 1 (4)... 80a 20 18*4 18*4
38*4 7** Industrial Rayon (2) 19 8% 9 +
39*4 14% ingersoll Rand (3). . 3 16% 16 16%
8 3*4 Ins'sharesDel a62 %c. 2 3% 3*4 3*4
3*4 1 Insurshares (Md)... 1 1*4 1*4 I'** —
14*» 2V4 Interboro Rar> Trans. Χ 3% 3'» 3% +
4% 2 Interlake Iron 12 2 2
117 60*4 Int Bus Machlne<n6) 5 62 61 61*4 —
18*4 S% Int Cement. 5 4*4 4*4 **4
1*4 *4 int Combustion 3 *» *4 H
29% 11 Int Harvester (1.80). 3 12 11V4 12 +
11*4 2*» Int Hydro-Elec ( A).. 5 3 3 3 —
4 1*4 Int Merchant Marine. 15 1
9*4 3*4 Int Nickel of Can.... 9 4 3*4 3*4
14 *4 Int Paper A Put (C). 1 >4 *4 %
11 2 Int Paper & Fwr pf.. 1 2V« 2*4 2V4 —
8*« 4 Int Printing Ink 2 4 4 4
23*4 0% rht Salt (1%) 1 llW 11% 11*4 +
44*» 32'» Int Shoe <3 ) 26 34*» 33*4 «4 -
12*» 23» Int Tele & Teleg *6 3*4 3 3*4
3b 15*4 Jewel Tea (t4*4) 3 20 20 20 +1
25** 10 Johns-Manville 10 11V* 10% 11*4 +
99*4 52 Johns-Manv pf (7)... 10» 50 50 50 -f
84 35 J ones & Laugh pf ( 4 ). 60« 33% 33% 33*4 -
113 90% KC P&L 1st pf B(6).. 10s 93*4 93*4 93*4
9% 5 lvayser (J) & Co 50 5 5 5
4*4 1 Kelsev-Hayes Wheel. 4 1 1
10% 2*4 Kelvlnator Corp 5 3 2% 3 +
13 5 Kennecott Copper... 33 5*4 5 5*4
19*4 10*4 Kimberly-Clark (1).. 5 10'4 10*4 10%
19 8 Kresge (SS) Co (1).. 17 8% 8 8 -
18% 10 Kroger Grocery ( 1 ).. 15 10*4 10*4 10% —
56% 25 Lambert Co ( to) 9 28'4 28% 28% +
2% 1% Lee Rubber & Tire... 2 2*4 2% 2% -
75 47 Leh Port Cmt pf (7). 20s 48*4 48*4 48*4
18 5 Lehigh Vallev R R... 1 5% 5% 5%
46% 30*4 Lehman Corp (2 40).. 1 31% 31% 31% +
61% 34% Ligg& Myers Β (ta). 6 39% 39*4 39% 4]
16% 8% Lima Locomotive ... 4 10 10 10
22 9 Liquid Carbonic (2).. 2 10% 10% 10%
34 13% Loew's Inc ( t4 ) 7 15% 15% 15%
36% 16% Loose-Wiles Bls(t3). 10 17% 17 17
16% 9 Lorillard (P) (1.20).. 18 10% 10% 10%
32% 7% Louisville & Nash. ... 10 10% 9% 10%
21 10 McCall Corpn (2).... 1 12 12 12
62 20 McCrory Strs pf (6). . 160a 22% 21% 22% +
16% 13 Mclntyre Porc M (1). 10 15% 15 15% +
62*4 28 McKeesport Τ Ρ (4).. 7 33% 32*4 32%
6% 1% McKesson & Robbins 1 1% 1% 1% +
23 3% McKesson & Robs pf. 1 4 4 4 —
18% 10 Mack Trucks (1) 17 12 12 12
60% 17 Macy (H R) (n2) 2 18% 18% 18%
20% 4 Manhat Elev mod gtd 7 5% 5 5% +
7 3% Manhattan Shirt 2 4 4 4
12% 6% Marine Midld (80c).. 12 6% 6% 6% -
1S% 3% Marshall Field & Co.. 1 3% 3% 3% -
20% 9 Mathieson Alk (1%). 2 9% 9% 9% -
8% 3 Maytag pf ww 1 3% 3% 3% +
38 20 Mengel Co pf 10» 21% 21% 21% -
6% 3% Mid Continent Petm. 1 4% 4% 4%
21% 3% Mo Kan & Texas pf.. 3 4% 4% 4%
11 1% Missouri Pacific 12 2 2
26 2% Missouri Pacific pf... 6 3% 3% 3% +
11% 3% Montgomery Ward. .ι 17 4% 4% 4% +
27 5 Mullins Mfg pf 20» 8 8 8 -2
19% 8 Nash Motors (2) 12 9*4 9 9%
46% 24% Nat Biscuit (2.80)... 70 26Vt 24 24%-»
14% 6% Nat Cash Reg (A)... 4 6% 6% 6% - V
31% 14% Nat Dairy (2.60).... 45 14% 14% 14% + 4
24% 13 Nal Dist Prod (2)..., 13 19% 19 19
125 94 Nat Lead pf A (7)... 80a 92 92 92 -2
16% 6% Nat Pwr & Lt (1).... 20 8V4 8 8% - *
28% 14 Nat Steel ( 1 ) 9 14% 14 14
10 3% Nat Tea (60c) 3 5 5 5
2% 1% Newport Industries.. 1 1% 1% 1% + V
4% 2 Newton Steel 1 1% 1% 1% — »
36% 8% Ν Y Central 140 11% 10% 11% \
9% 1% Ν Y Chicago & St L.. 2 2*4 2 2% + V
15% 2 Ν Y Chi Λ St L pf 2 2 2 2
125 82% Ν Y & Harlem (5).... 80» 90 89 90 -1*
2 % Ν Y Investors 2 % % % + V
31% 6 Ν Υ Ν H & Hartford. 6 7 6% 6%
78% 13% Ν Υ Ν H & Hart pf... 1 12% 12% 12% -1
17% 10% Noranda Min (a50c). 1 11% 11% 11%
135 57 Norfolk & West (8) 1 57 57 57
40 13% Nor Amer(bl0%stk). 58 17% 16*4 17*4 ·! V
28*4 5% Northern Pacific 60 6% 6*4 6% + V
8% b Ohio Oil (a20c) 6 7 6% 7
4*4 1% Omnibus Corp 8 2 1% 1% -
22% 9 Otis Klevator (1%).. 1 11*4 u% 11*» +
105 90 Otis Elev pf (6) 60s 95 95 95
37 16% Pacific Gas & El (2).. 12 19% 19 19*4 + %
41% 20% Pacific Lighting (3). 2 26 25*4 26 + %
104% 58 Pacific Tel&Teleg(7) 110a 62 61% 62 +1
5% 1% Packard Motor Car. . 22 1% 1% 1% + %
11% 1% Paramount Publlx... 24 1% 1% 1%
4% 2 Park&Tilford 2 4% 4 4%
34% 13 Penney (J C) (2.40). 9 15% 15 15% + %
91 60 Penney ( JC) pf A (6) 1 66% 66% 66% -3%
23*4 6*4 Penna Railroad 42 7% 7% 7% — %
121 45V» Peoples Gas Chi (5). 15 4» 48 49 + ]
13 2 Pere Marquette 12 2 2
19 3% Pere Marquette pr pf 20» 4(4 4% 4%
4% 3 Petrol Corp of Am... 1 3% 3% 3%»
8% 3% Phelps Dodge 22 4(4 4 4 -
5% 2 I'hlla & Read C& I... 14 2 2 ?
6% 2 Phillips Petroleum. .. 6 3(4 3(4 3%
5% 3% Phoenix Hosiery 10s 4 4 4
H % Pierce Oil 1 (4 % %
22% 9% Pillsbury Flour (2).. 1 13 13 13 +
24 10 Pitts Steel pf 100» 9!4 9% 9(4-4
2*4 1 Pitts United Corp.... 11 1 1 —.
9*4 6% Prairie Pipe Line. ... 17 7 7
42% 24 Proct&Gamb (2.40). 115 23T4 21V» 21'4 -2
60 29% Public Svc Ν J(3.20). Il 32U 81(4 32V* +
100% 71V4 Public Svc NJpf (6). 3 74% 72 74% +
25 10V4 Pullman Corp (3), 12 14 13% 13%
5V4 2% Pure Oil 2 .3% 3(4 3(4
18% 4*4 Purity Bakeries (1 ).. 8 5% 5 5% +
10% 2V4 Radio Corp 15 3(4 3 3(4 +
18% 3% Radio Corp pf Β 10 4% 4H 4% —
7 1% Radio-Keith-Orph... 12 2 2 -
13(4 4 Rem Rand 1st pf..... 1 7 7 7 +
3% 1(4 Reo Motor Car 1 1% 1% 1%
6% 1% Republic Steel 1 2 2 2 -
15% 5 Republic Steel pf. ... 15 5 5
10 β Reynolds Met ( 1% )., 1 6(4 6% 6(4 +
5% 3 Reynolds Spring.... 3 3V» 3V* 3(4 —
71(4 65 Reynolds Tob A (3).. 60» 65 65 65
40% 26% Reynolds Tob Β (3).. 9 27 26*4 27 -
2(4 1% IUo Grande Oil 1 2(4 2(4 2(4
6% 1% Rossia Ins of Amer.. 1 1T4 1% 1%
23 12V» Royal Dtch (a81c). .. 6 16'» 15k 15*4 —
69(4 34% Safeway Stores (5).. 2 35(4 34% 34%
84 60 Safeway Strs pf (6). 10» 64 64 64
94 69 Safeway Strs pf (7).. 60» 75 74% 75
10% 5% St Joseph Lead 2 " 514 5% 5%
6% % St L-San Francisco.. 1 1(4 1(4 1(4
9% 1 St L-San Fran pf 2 1*4 1% 114
4 % Schulte Retail Stores 11 1 1
9% 6*4 Seaboard Oil Del 40c. 4 7% 7(4 7%
37*4 974 Sears Roebuck 1 18 10% 9% 10%
5*4 1(4 Servel Inc 2 1*4 l*t 1*4
12*4 5 Shattuck (FH) 50c... 14 5% 5 5(4
4(4 2(4 Shell Union Oil 2 3 3 3
31 18 Sfiell Union Oil pf... 1 20 20 20
10% 2*i Simmons Co 1 3*4 3** 3*4
6 3% Simms Petroleum.... 3 3*4 3% 3%
14 7(4 Sloss-Sheff Steel pf. . 60s 8 8 8
10*4 514 Socony-V'ac (80c).... 25 7 6% 6%
63 35 Solv Am pf ww(5 % ). 3 35% 35 35
8% 4% South Port Rico Sus. 22 8(4 7(4 8%
32*4 15% Southern Cal Ed (2).. 4 v18% 18% 18(4
37*4 6% Southern Pacific 15 7% 7% 7%
20% 4 Southern Railway pf. 14 4 4
14 8% Stand Brands (1.20)., 42 9% 9% 9*4
2 1 Stand Com Tobacco.. 11 1 1
34(4 7% Stand Gas & Rlec (2). 12 10% 9*4 10(4
414 9% Stand Gas&Kl pf (4). 2 14 13% 14
61% 24% Stand Gas&Kl pf (6). 2 30 29 30
75 28 Stand Gas&Kl pf (7). 3 36 35*4 36
27% 15% Stand Oil Calif (2). .. 22 18% 17% 18%
91% 81 Stand Oil Kxp pf (5). 1 85 85 85
12*4 7 Stand Oil Kansas.. .. 3 7 7 7
31% 19% Stand Oil Ν J <t2). .. 115 24(4 23*4 24
23% 13% Sterling Secur cv pf. 5 16% 16(4 16(4
16% 5% Stone&\Vebster(S0c) 25 5% 5 5%
13% 2% Studebaker Corp 1 3(4 3(4 3%
13% 9% Texas Corp ( 1 ).... 20 9*4 9(4 9%
26*4 12% Tex Gulf Sulph <2).. 27 12% 12% 12% -
6% 2(4 Tex Pacific Land Tr.. 3 2% 2% 2% —
1(4 Η Thompson Starrett.. 1 % % % —
30% 20 Tide Water As pf (β) 1 26(4 26% 26% —1
23 8% Timken Roll Β 1 %. .. 7 8% 8% 8% +
6 2% Transamerica Corp.. 6 2% 2% 2%
4(4 1% Tri-Contl Corp 6 2 2 2
3 % Clen & Co 2 % % %
101 84 Und-Ell-Fish pf (7). 10s 85% 85% 85% +3
10(4 6% Union Bag & Paper.. 2 6 5% 6 —
86% 15% Un Carbide & C( l.20) 36 16% 16% 16% +
13% 8% Un Oil of Calif (1.40). 6 9% 9l·* 9(4 +
94% 29% Union Pacific (6)... .8750» 31% 30'-, 31% +
68 40 Union Pacific pf (4). 6 40% 40 40% —
19V« 12 Un Tank Car (140).. 1 12 12 12
16% 6% Unit Aircraft 29 7% 7% 7%
46 30'* Unit Aircraft pf (J).. 4 41 40 41
28(4 IIV4 Unit Biscuit (2) 5 12% 12 12
1% % Unit Cigar Stores.... 1 s % h
10% 3% Unit Corp (40c) 24 4% 4 4
38% 20 Unit Corp pf (3) 6 23 22% 23
30(4 1QW Unit Fruit (2) 7 12% 12% 12%
21% 9(4 Unit Gas&Im(1.20).. 11 12% 11% 12%
94 70 Unit Gas&lm pf (δ).. 2 76(4 76(4 76%
31% 13(4 U S Indus Alcohol... 18 16% 15% 16%
65 48% U S Leather pr pf(7) 1 46% 46(4 46(4
16(4 7% U S Pipe & Fdry (2)., 2 8(4 8V4 8V»
5% 1* US Rubber 11· 2% 2 2
62% 21% U S Steel 172 22H 21% 22%
113 61% US Steel pf (7) 26 54(4 52% 63%
3 % United Stores (A)... 1 % τ,, 74
1 % Univ Pipe & Rad 1 % % %
10% 1(4 Util Pwr & Lt (A). .. 6 2% 2% 2%
% % Vadsco Sales Corp... ? % % %
18% 6% Vanadium Corp.. 6 7 6% 7
^Pre». 1932— Stock and Sales—
High. Low. Dividend Rate Add 00. High.
35 234 Van Raalte lut pf... 10s 194
1 H Va-Car Chemical..... 1 »,
64 34 Va-Car Chem 6% pf.. 1 51,
39V» 20 Va-Car Chem 7 % yf.. 4 35»,
1 1S
1 8
2 S
7 *
1 4
11 8S
12 44V»
100s 88
50 134
272 16\
10a 58
1 44
1 71,
22 4\
3 IV,
8 ».
6 1 Wabash pf (A)
19 74 Waldorf Sys (14)·..
3 4 Walworth Co
4H H Warn Bros Pictures..
2 H Webster Elsenlohr..(
15*4 84 Wesson Oil & Sn ( 1 ).
50 444 Wesson O&Sn pf (4).
110 80 West Pa Pwr pf (7).
50 12% Western Union
35'* 16'» Westinghse Elec
72% 52*4 WestinRhse 1st (3 4)
12*» 3 Westvaco Chlor (1)..
12 64 White Motor
5»* 2*» Wilcox Oil & Gas. ...
3 4 Willye-Overland
14 H Wilson & Co
Net. 1
Lew. Close. Chge
194
H
BH
194 -84
4
54 — H
35*4 35H + 4
14
8
4
4
4
84
44
86
124
14
8
4
5 — H
4
8H - 4
44 - H
86 -2
124 -t 4
154 17
58 58
4"*
74
44
1
4
-1
44 - V»
74
45 + 4
1
H
,-Ρτβν. 1913—»
High. Low.
Stock and
Dividend Rate.
44 14 Wilson A Co ( A)....
31 11 Wilson 4 Co pf
454 22 Woolworth (2.40)....
234 5 Worthington Pump..
57 254 Wrigley <Wm) (4)..
Sales—
Add 00 High.
104 64 Yale & Towne (1) .
5 14 Yellow Truck
25 12 Yellow Truck pf..
16
2
65
2
6
980·
3
60·
24
15
24 Η
•
30
ds
14
244
Low
2
15
234
9
28S
6».
14
23
Close.
24
1»
234
9
30
6%
14
244
Net. .
Chge
+ *
+ 2
4· 4
- Η
-24
44 44 4'*
94 4% Zonite Products(60c) 3
Sales of Stocks on New York Exchange.
10 30 AM 100.000 12:00 Xoon 200.000
1:30 P.M 400.000 2:10 P.M. 500.000
Dividend rates as given in the above tables are the annual
cash payments based on tb« latest quarterly or hall-yearly dec la
rations.
■Unit of trading less than 100 shares tPartiy extra. JPlus
4"i in stock a Paid this year—no regular rate b Payable in
stock e Payable in rash or stock, f Plus 8'· in stock, h Plus 3*4
in stock, J Plus il in special preferred stock, k Plus. 3% In stock,
m Paid last year—no regular rate, η Plus i% In stock. D Payable
in serin χ Ex-dlvldend.
Gains in Live Stock Prices
Tend to Offset Decline
in Wheat .
Sharp price gains in live stock in late
June were a strong offset, from the
farm income viewpoint, to the declines
in the wheat market, says the United
States Department of Agriculture. Bu
reau of Agricultural Economics, Market
News Service. Other price changes
were not at all extreme. Dairy and
poultry products continue unsettled with
slightly downward trend. Fruits and
vegetables mostly tend to sejl lower with
the progress of the season. Mlllfeeds
are irregular in recent price movement,
but general level is about that of a
month ago. Corn markets held much
better than the wheat market. Live
stock gains were mainly on hogs and
fed cattle.
Mont Vegetables Lower.
Eastern Shore of Virginia potatoes in
barrels brought $1.90 to $2 at shipping
points in late June. City prices were
lower on practically all arrivals except
those from Maine, which held fairly
steacty.
All States show decreased watermelon
production this season. The first offi
cial report from South Georgia showed
a fairly firm cash-track market there,
with 24-30 pound Tom Watsons bring
ing $100 to $225 per carload and Dixie
Belles $60 to $100. City prices on
peaches held well, with most sales of
six-basket crates ranging $2 to $3.75.
according to source and variety, as well
as quality and condition.
Seven intermediate onion States ex
pect a total of 2,908,000 bushels this
season, compared with 2,327,000 last
year Baltimore quoted ungraded yel
low onions from Virginia at 25 to 40
cents per bushel hamper. Lettuce mar
kets were considerably weaker.
Butter Markets Unsettled.
The butter market at all points was
weak and unsettled in late June. Oper
ators in general were conservative and
exhibited but a slight degree of confi
dence in the situation. Trading at most
markets was quite satisfactory. Butter
production, according to reports from
the various manufacturing group», con
tinues to show decreases from the pre
vious week. Trading in butter for fu
ture delivery was again confined largely
to the November storage contracts.
Operators in general were conservative,
with both buyers and sellers Indifferent.
The tone of the cheese markets at
distributing points continued steady
near the end of June on fresh cheese
and firm on cured and held goods.
Prices on fresh cheese worked \\ cent
higher at Chicago, but in other market
quotations held unchanged. There was
a tendency among dealers in all mar
kets, however, to hold more firmly to
asking prices, this despite the fact that
further declines on butter had a weak
ening effect. The storage demand con
tinued lighter than in other years, al
though some of the larger users of
cheese have bought fairly freely. New
York State markets are steady to firm.
*-ae *'*— ·»ν" "*■»»·
After the sharp drop in egg prices
during the third week of June the mar
ket on Middle Western mixed colors
stood at 13 to 13% cents per dozen for
rehandled receipts. This was practically
the same as opening quotations for the
month, and was a drop of 1 Vi cents per
dozen from the high quotation of the
month reached on June 20
Broiler supplies are showing the usual
seasonal increase, but as the demand is
holding up exceptionally well the mar
ket remains so far unchanged. Fowl
are in only moderate supply, but under
the Inactive demand the market con
tinues weak.
Hors and Cattle Higher.
A decided expansion in the price
range on slaughter cattle, with grassers
selling slow to unevenly lower and
grain-feds at a sharp advance, together
with a buoyant, sharply higher hog
market, were outstanding trade features
of the live stoek market the last part
of June. The price upturn lifted hog
prices to the highest point since the
forepart of April, and the extreme top
was $1.10 per 100 pounds above the low
top of the season, which was registered
as recently as May 26. Best grain-fed
steers not only reached but crossed the
: $8 line, choice yearlings touching $8.25
for a new high peak on the recent ad
vance. The two-way cattle market,
however, featured by declines on grassy
sorts, carried most grass slaughter
steers down to a $4 to $5.50 basts, mak
ing for a wider price spread between
the inferiority and high quality than
has been witnessed for many weeks.
Fat lamb values meanwhile sold within
a more narrow price range. The lower
and intermediate grades held steady.
Receipts at important market centers
showed a decrease of hogs, a slight gain j
in cattle and an increase of sheep and
lambs
CORPORATION
REPORTS
TRENDS AND PROSPECTS OP
LEADING ORGANIZATIONS.
NEW YORK, June 29 —The follow
ing is today's summary of Important
corporation news prepared by Stand
ard Statistics Co., Inc., New York, for
the Associated Press:
Advertising. Printing and Publishing.
Curtis Publishing cuts advertising
rates 10 per cent.
General Outdoor Advertising deficit,
quarter ended March 31, 1932, $816,089
vs. deficit $650,217.
Aircraft.
Douglas Aircraft common share earn
ings. six months ended May 31, 39 cents
vs. $1.20.
Automobile Parts and Tire·.
Raybestos-Manhattan Inc. sales In
current quarter about 9 per cent less
than in first three months.
Building, Real Estate and Related Lines.
Carey (Philip) Mfg.—Dollar volume
off 30 per cent in first five months,
while tonnage declined 15 per cent; ex
penses were cut 25 per cent.
Lefcourt Realty Corporation declared
a 20 cents dividend on common stock;
previously paid 40 cents quarterly.
Medusa Portland Cement Co. passed
quarterly dividend on preferred stock,
on which $1.50 was paid April 1.
Miscellaneous.
American Can sales volume In cur
rent year to June 18, shows a decrease
of about 16.5 per cent.
OIL
Socony-Vacuum Corporation — Tank
car gasoline price advanced 1 cent a
gallon at New York harbor and Provi
dence.
Railroad and Railroad Equipment.
Atchison, Topeka & Santa Fe Rail
way took no action on common divi
dend; paid $1 on June 1, 1932.
Canadian Pacific Railway—May net
earnings off 31.5 per cent; five months,
off ?4.8 per cent.
Gioat Northern Railway—Pull time
restored at car repair shops, resulting
in employment of 1,559 men.
Gulf. Mobile & Northern Railroad—
May net operating deficit $33,673 vs.
net operating Income, $6,079; five
months, net operating deficit. $85,985
vs. net operating income. $33,280.
Retail Trade.
Debenhams Securities. Ltd., passed
preference dividend ordinarily payable
June 30, 1932, as no dividends have
been received on its shareholdings dur
ing current year.
National Department Stores—Stock
holder filed an accounting suit against
company in Federal Court, New York;
alleges fraud, mismanagement and dis
sipation of its assets.
National Tea sales, 4 weeks to June
18, off 12.7 per cent; 24 weeks, off like
amount.
Steel and Iron.
Steel Co. of Canada. Ltd.—Plants
currently operating at 22 per cent of
-capacity.
Utilities.
Commonwealth Si Southern Corpora
tion—Gross earnings, 12 months ended
May 31, off 8.7 per cent; net income
off 27 per cent.
Eastern Utilities Investing Corpora
tion—Declared quarterly dividend on
prior preferred stock, payable at rate
of l'i shares of $7 cumulative pre
ferred stock per share held; on April
1 paid $1.25 in cash.
New York Railways—May net loss,
$293 vs. net Income $8,245; five
months, net loss, $85,215 vs. net loss
$69,242
Third Avenue Railway—May surplus
after charges of system, $65,869 vs.
$76,972; 11 months, sudplus, $430,137
vs. $211,680.
NEW YORK BANK STOCKS
NEW YORK, June 29 (Λ>).—Over-the
counter market:
Bank·.
Chase (2) 19· * 21'«
Commercial <8> 84 88
First National ( 100» 855 955
Manhattan (2) 153« 17*4
National City <2> 23Va 251'»
Public (2) 15*4 mi
Trust Companies.
Bankers' <3) *0 42
Brooklyn Trust Ίβι 103 1X8
Central Hanover (·7> 871 a 911 a
Chemical (1801 27V« 29'«
Continental <120 > 11H 13'»
Corn Exchange (4» 40'2 43'a
Empire (2) 13' < 15' 4
Guaranty <201 163 168
Irving (1.60) I3l4 14'«
Manufacturers' <2> 17 19
New York Trust (5) 54 57
Title Guaranty A Trust (4 601.. 25'a 28'.j
•Includes extra.
Baltimore Markets
Special Dispatch to The Star.
BALTIMORE, Md.. June 29 —White
potatoes, old, 100 pound?, 85a95; new,
barrel, 1.25a2 50; sweet potatoes, bushel,
36a60: yams, barrel, 1.00al.25; aspara
gus, dozen. 40al.50; beans, bushel, 35a
60; beets. 100, 1.00a2.00; cabbage, ham
per, 30a40; carrots, 100, 1.50a300;
cauliflower, crate, 1.50a 1.75; celery,
crate, 1.75a2.00; cucumbers, bushel, 40a
90; corn, crate. 50al.50; eggplant,
crate, 1.00a2.00; lettuce, bushel, 25a50;
onions, per 100, 65a75; pea?, bushel,
1.00al.75; peppers, crate, 1.00a3.00;
Spinach, bushel, 50a85; squash, bushel,
50al.00; tomatoes, crate, 50a 1.25; ap
ples, bushel, 75a2.00; grapefruit, box.
3.50a4.50; oranges, box. 3.00a4.75;
cantaloupes, crate, 1.00a3.25; black
berries, crate, 1.50a2.75.
Dairy Markets.
Chicken?—Young. 15a23; Leghorns,
12a 15; old hens, 13al6; Leghorns, old,
llal2; roosters, 8al0; ducks, 8al5;
pigeons, pair, 20a2à.
Eggs—Receipts, 2,052 cases; current
receipts, 13.
Butter—Good to fancy creamery,
16al8; ladles, 12al3; process, 14al5;
store packed, 10.
Live Stock Market.
Cattle—Receipts, 50 head; steady.
Steers—Good and choice, 6.50a7.25;
medium to good. 6 00a6.50; fair to me
dium, 5.50a6.00; plain to fair, 5.00a5.50;
common to plain, 4.00a5.00. Bulls—
Medium to good, 3.50a4.00; fair to me
dium, 3.00a4.50; plain to fair. 2.75a3 00;
common to plain. 2.50a2.75. Cows—
Good to choice. 3.5Oa4.Q0; medium to
good, 3.00a3.50; fair to medium, 2.50a
3.00; plain to fair, 2.00a2.50. Heifers—
Good to choice, 5.25a5.50; medium to
good. 5.00a5.25; fair to medium, 4.00a
5.00; plain to fair, 3.50a4.00; common
to plain. 1.25a2.00. Fresh cows and
Springers, 30.00a60.00.
Sheep and lambs—Receipts. 500 head;
lower. Sheep, 50a2.00. Spring lambs
Good to choice, 6.00a6.75; common to
medium, 3.50a5.50; buck lambs sold at
discount.
Hogs—Receipts. 400 head; higher.
Lights, 5.15a5.60; heavies, 4.65a5.30;
medium. 5.15a5.60; roughs, 3.00a4.30;
light pigs. 4.80a5.30; pigs. 5.15a5.60;
Western hogs, 10-20 higher.
Hay and Grain.
Wheat—No. 2 red Winter, garlicky,
spot, domestic, 53^; June, 534; July,
no quotations.
Corn—No. 2 yellow, spot, domestic,
40a41; cob corn, new, 1.75a2.00 per
barrel.
Oats—No. 2 white, domestic, 30'Aa
31 ; No. 3 white, domestic, 29%a30%.
Rye—Nearby, bag lots, 40a42.
Hay—Receipts, none. General hay
market is quiet. Receipts ample of
timothy, but good mixed hay scarce and
bringing a premium. Price range from
12.00 to 16.00 per ton. as to grade and
kind; latter figure for choice clover
mixed. The poorer grades of timothy
are irregular in price.
STOCKS ARE FIRM
IN FINAL DEALINGS
Market Maintains Steady
Trend as Short Covering
Operations Appear.
BY GEORGE T. HUGHES.
Sprcial Dispatch to The Star.
NEW YORK. June 29 —Although Κ
had a major dividend casualty to ap
praise. the stock market ression was a
generally steady affair today Omis
sion of the dividend on Westinghous*
Electric common brought a brief flurrf
of selling, but It toon subsided and
more stocks were fractionally higher
than lower at the close.
Trading, however, was entirely pro
fessional and the improvement. If It
may be called that, was due to the cov
ering In of contracts for the decline.
However, it did show that a point may
be reached at which even this market
becomes hardened to adversity.
A number of new weak spots were
uncovered during the early trading.
One of these was Procter & Gamble,
which dropped to a new low under
heavy offerings. The latest news affect
ing the company wss that there had
been large-sca'e ordering of Its products
just before the new tax law went into
effect, but that, of course, was a tem
parary affair. Directors are scheduled
to meet for dividend action July 12.
Other stocks which yielded to new
low levels Included National Biscuit
and National Dairy Products. Compet
itive conditions were suggested as a
reason for the selling in both cases,
but as far as Dairy Products was con
cerned there was some talk about the
effect on the milk distributors of the
possible return of beer. Du Pont made
a new low by a fraction, possibly re
flecting concern over the General Mo
tors dividend. The latter sold at its
old low during the first half of the
session.
There was little change in the rail
way list. Atchison sold only fraction
ally above the low point reached after
the dividend omission. It had been
expected that Delaware & Hudson
would act on the dividend today, but a
decision was postponed for a month
pending a clearing of the political sit
uation and the earning trend. It la
unusual for Delaware & Hudson direc
tors to hold any board meetings dur
ing the Summer. Of the low-priced
stocks New York Central acted the
best.
The steel shares had little chance of
improvement in the face of the weekly
trade summary. The iron age put
operations down to 15 per cent of
capacity, the lowest in this depression.
U. S. Steel common and preferred sold
around their minimum prices, but In
very light trading. A better showing
was made by those extremely specula
tive Issues, Auburn and J. I. Case, where
the short Interest Is most congested.
The probabilities are that contracts for
the decline have increased during the
last few weeks, and It Is this situation
that might bring about some sort of re
covery.
Fall Clothing Sales Gain.
NEW YORK, June 29 (A").—Sales of
men's worsted and woolen suitings for
Pall Improved substantially during the
last 10 days as clothing manufacturers
started to cover on Initial requirements.
It was reported in clothing trade cir
cles today.
Company to Absorb Tax.
NEW YORK, June 29 (JP).—'The East
man Kodak Co. announces that H will
absorb the 10 per cent tax on the sale
of cameras fixed by the new revenu·
law.
Oldeit Saving» Inttitution in the District of Columbia—66th Year
Assets $6,237,762.31
Subscriptions for the 103rd Issue of Stock Being Received
The Equitable's Plan Teaches You
How to Save Systematically
Thousands have won success in
saving through the Equitable's Sys
tematic plan. You too, can enjoy
financial independence by starting
an account here now and saving
regularly.
Come in and we'll explain.
915 F St.
Share
pillllllllllllllllllllllllllllllll
Organized 1879 52nd TEAR COMPLETED
( Equitable Co-Operative Bldg. Ass η
I JOHN JO! EDSON, President WALTER S. PRATT, Jr„ Secretary
—past diligence in creating a bank reserve is some
thing for which you can now give thanks. And
your sense of thrift will undoubtedly provide for
a continued savings program, even though lower
salary will necessitate some financial readjusting.
Checking as well as Savings accounts Earn In
terest at this sixty-sixth-year-old bank, and de
posits are invited in any amount.
Open Until 5:30 P.M., June 30 & July 1
For Pay-Day Depositors' Convenience
OFFICERS:
WILLIAM D. HOOVER President
WOODBl RY BLAIR Ut V. Pre·.
FRANK STETSON.
înd Vice Pres. and Trust Officii
CHAS. C. LAMBOBN Treasurer
E. PERCIVAL WILSON Secretary
FRANK B. ILLMER Asst. Treas.
BRICI BAIBD . Asst. Tr. Officer
DAVID BOBNET.. Asst. Tr. Officer
JOHN W. CALVERT . Asst. Treas.
W. HILFS PABDOE Asst. Treas.
ALEXANDEB J. FANT Asst. Secy.
JOHN M. BOTELEB Asst. Seer
At'DLEV A. P. SAVAGE . Auditor
DIRECTORS:
JAMES J. BECKER
WOODBl RY BLAIB
WALTER C. CLEPHANE
H. BOZIEB DILANT. JB.
FRANKLIN H. ELLIS
H. PBESCOTT GATLEY
WIILIAM D. HOOVER
^^D^s'fiflD^PE.
VICTOB KAIFFMANN
FRANK STETSON
WILLIAM H. WALKER
WILLIAM B. WILLARD
HARLEY P. WILSON
If You're Facing a
Cut in Your Pay
National
Savings
& Trust Co.
CAPITAL A SURPLUS
$3,500,000.00
Corner Fifteenth
and New York Ave.
SAFE FIRST MORTGAGES
m
0
RE-INVEST YOUR JULY
\ DIVIDENDS
f in our liberal interest-earning
6y2% FIRST MORTGAGES
So invested you know exactly
what the return will be—continu
ously to the maturity ot the mort
gage; and through all that time the
principal is secured by first trust on
conservatively appraised improved
Washington real estate.
May be purchased in amounts
from $250 up—and upon our con
venient Partial Payment Plan if you
so wish.
B. F. SAUL CO.
ver a Third
of a
Century
Without a
Loss
National 2100
925 15th St. N.W.
THERE IS NO SUBSTITUTE FOR SAFETY