Evening Star Newspaper, December 2, 1929, Page 15

FINANCIAL. FINANCE MINISTER - URGES FREE TRADE New Canadian Official Has Record as Able Busi- ness Executive. BY JOHN F. SINCLAIR. EBpecial Dispatch to The Star. NEW YORK, December 2.—When Mackenzie King, Canadian prime min- ister, selected Cherles A. Dunning, the | Canadian minister of railways, to be minister of finance, he choss “a free trader from the west.” ‘The new finance minister was born in England 45 years ago. At 18 he work- ed on a farm at Beaverdale, Saskatche- wan. At 26 he organized the Sasket- chewan Co-operative Elevator Co. From that time on his expanding career has been part of the progressive farmer's movement in the western provinces. Mr. Dunning held several cabinet po- sitions before becoming premier of the great wheat province of Saskatchewan in 1922. Four years he was called to Ottawa as Canadian minister of rail- ways. ‘The Financial Post, Canada's out- standing business weekly, says of the new finance minister: “Mr. Dunning is a man of practical intellect. an able business executive and a student of finance. These con- siderations are far more important than the fact that he is a theoretical free trader.” But to Western Canada it is a great event, for it is the first time that a western man has been appointed to the important portfolio of finance in any Canadian government. Coffee Industry Aided. The coffee situation in Brazil, which has had several sinking spells lately, has been help:d by a loan of ‘approxi- mately $10,000,000 secured. last week in Europe. The price of coffee, which has long been sustained at high levels by the Brazilian valorization plan, rose from 13 cents a pound in 1922 to 22 cents a pound in 1925. It remained the latter figure until lately. The recent sharp break in the New York Coffee Market lii;ggped prices to the lowest levgl since And why? Ten years ago, the an- nual production in” Brazil was about 13,000,000 bags. Today it is about 16,- 000,000. The rest of the world 10 years ago, produced about 6,000,000 bags, today 10,000,000. But many of the trees planted in recent years, since the rise, are just now coming into bearing. The world consumes about 23,000,000 bags of coffee a year. Today world production exceeds “world consumption. More than 8,000,000 bags of coffee, un~ - der the control of the Sao Paulo Coffee Institute, were carried over into the be- ginning of the present crop year. It 1S now estimated that .approximately 15,000,000 bags of coffee are stored at present waiting for better prices. Brazil, in 1819, landed her first coffee in the United States at Salem, Mass.— 1,522 bags. Last year 10,500,000 bags ‘were imported into the United States, | of which 7,000,000 came from Brazil. Until a world control of coffee produc- tion is effected—and this is impossible at the present stage of society—stabiliz- ing the price of coffee is bound to have & bad time. The present one is a good example. : Reparations Bonds. | A small offering of German repara- | tion bonds, issued under the divisions of the new Young plan, will probably be offered to the American public and in other leading countries in February or March of next yeai It is understood ti the issue will not be a large one. It will be merely a “feeler” to familiarize the buying pub-; lic with this new type of security, which is sure to be with us for many years. It is expected that the first issue will bear & 7 per cent coupon, have a 1 per cent amortization charge, and be sold | at about par. Ultimately about - $2,000,000,000 of these bonds will be issued. No one need be surprised if France absorbs a large proportion. If the French government takes a large amount and agrees to exchange them for French government bonds now in the hands of its public, it will permit 53, 53915 108% 23 153% 847y 6074 314, 52 1% .72 €919 114 3314 684 98% 32 33% France to reduce her own national debt by the number of German bonds which she exchanges. If the French people are willing’ to trade their government bonds for German reparation bonds, the French financial situation will be helped. ‘K:Pl:g course of procedure is expected. Pension List Changing. As the ranks of the Civil War vet- erans and their widows grow thinner the places made vacant at the United States Government Pension Office are quickly taken by Spanish-American ‘War veterans and their widows. For the first time the amount of Government pension payments to the Spanish veterans exceeds those now made to the veterans of the Civil War. This information is furnished by the commissioner of pensions, who an- nounces that 447912 people received monthly checks, totaling almost $230.- 000,000, for the last Government fiscal ar. yeOf this amount $57,095,000 was pald to Civil War veterans and $86.474.00v to Civil War widows. But the Spanisn ‘War veterans themselves are given $6b,- 292,000, while their widows receivea $11,383,000. This gives a United States por capita pension of about $480, as against = per capita of $180 given by England. England has 1665470 pensioners, who in the last fiscal year were given $308,000,000 in war pensions. That's one trouble with this war business—a nation never gets througu paying for it. (Copyright, 1929. by North American o 'News- aper Alliance.) . CHICAGO LIVE STOCK MARKET CHICAGO, December 2 () (Unitea States Department of Agriculture).— Hercccp-lpLfi. 62,000 head, including 32000 direct; market mostly steady with Friday; top, 9.50 paid for 240-290 pounds weights; mostly a 9.35 to 9.40 market for good to choice hogs over 190 pounds; butchers, medium to choice, 250-300 pounds, 9.00 to 9.50; 200-250 pounds, 9.15 to 9.50: 160-200 pounds, 9700 to 9.45; 130-160 pounds, 8.50 to 935: packing sows, 8.00 to 8.60: pigs. medium to choice 90-130 pounds, 825 to 9.00. Cattle—Receipts, 13,000 head; calves, receipts, 3.000 head; general market steady to 25t higher; fairly active; early top yearlings, 16.25; lower grade steers sharing uptum. Slaughter classes, stegrs, good and choice, 1,300-1,500 pounds, 12.25 to_ 14.76; 1,100-1300 Ppounds, 12.25 to 15.50; 950-1,100 pounds, 1250 to 15.75; common and medium 850 pounds up .00 to 12.50; fed year- lings, goo” end_choice, 750-950 pounds, 13.00 tv :6.00; heifers, good and choice, 850 pounds down, 12.50 to 15.00; com- mon and medium, 7.25 to 12.50; cows. good and choice, 7.25 to 10.00; common and- medium, 575 to_7.50; low cutter d cutter, 4.25 to 5.75; bulls, good and choice (beef). 8.74 to.10.00; cutter to medium, 6.50 to 9.25; vealers (milk fed), good and choice, 12.50 to 15.75; medium, 11.00 to 12.50; cull and common, 7.00 0 11.00; stocker and feeder steers, good and choice, all weights, 10.25 to 1100; common and medium, 7.75 to 10.00. ceipts, 30,000 head: market opening k to 25c lower: fat lambs, 1250 to 12.85; a few choice, 13.00 to ; fat ewes steady, a few 525 to X feeding lambs, quotable, steady; lambs, good and choice, 92 pounds medium, 11.00 to to 11.00; ewes, medium to choice, 150 pounds down, 4.50 to 6.00; cull and common, 475; feeder lambs, good and 1175 to 12.75. Ehakespeare was known to his friends 25 “Gentle Willie,” 15 2 124 449% 103': 21% 18 50% 160 38% 35 21 .24 395 11 29 52% 41l 123 37T% 135 1% 1% 8T 56 62% 2 13% 29% 13 26 34% 467x 642 26% 11 17% 30% 42 1% 451y 324% 20 189 108% ev. 1920 4Ty Stock ana Low. Dividend Rate 7 Aeronautical Indust, 1% Aeronautic Ind wa: 5% Aero Sup Mfg. B 14% Aero Underwrite 15 Agfa ADSCO........ Ainsworth Mfg 312%. Air Investorsvte... Afr Inv, Inc cv pr. Afrstocks, Ine vte.. Alabama Gt Sou 37.. Allegheny Gas Corp. Alles & Fisher (2)... 3 Allled Aviation . 10% Allied Mills, Inc. 23 Allied Pow & Lt. 1 Allison Drug St A. 's Allison Drug St B. 146 Aluminum Co of Am. 103 Alu Co {Am of(6).. 81 Am Arch Co (3). Am Br B El fd 18 AmCom P A (130¢c). 22 Am Com P B (130c).. 4% Am Cmwith Po war.. s AmControlOfIF1d: 2 > El Q o » a H cl w 2 3 103 AmDIistT.NJ ev pf 7. Am Equities. 25% Am For Power war. Am Gas&Elec (11) Am Investors (war)., @ £ -3 P TOTCTOTES P P 2 1% EANREOaR 240; o o Treca i5s 8 21 20 4 1 190 Am Lt& Trac (10).. 124s % Am Maracaibo. 5% Am Natural Gas. Am Superpower. Am Super 1st pf (6). Am Superpow pf (6) 3% Am Thread pt (25¢). 25 Am Yvette 4 20% Amster Trad (1) Anchor PostF (2)... nvcod 35c. od 35c. 3% Arkansas Nat Gas. 6l Arkansas Nat Gas 4 Ark N Gem pf (60c) 3 Asso-Dyeing & Ptg.. 5% Asso-Elec Ind Ltd.. 5% Asso GEE A (12.40). 3'2 Asso GRE A deb rts 2 Asso Laundries 3% Asso Rayon, 30% Asso Rayon 25 Atl Coast Fish( % Atlantic Lobos. 1 Atlantic Lobos p 24% Atlas Plywood n. 16% Aut V Mev prpt (2). 2014 Aviation Corp of Am 12 Aviation Credit 1% Bahla Corp... 113 Bahia Corp pf 46% Bancomit Corp new. 75 Baumann (L) pf (7).1 18 Bickford, Inc. ° 30 Blaw-Knox Co 10 BitssCo (E W) (1) 3% Blue Ridge Corp. 23% Blue R Corp cv pf 13% Brazil Tr & Lt2). 10 Brill Corp A (I'5). 1% Brill Corp B..... 14 Brillo Mfg (1.20).... 4 BrCelanese Ltd rets 55 Buckeye Pipe L (15) 22 Buf N&E P pf (1.60) 1% Burco, Inc. . 31y Burco, Inc (war). 38 Burco, inc conv pf. 3% Burma rets (313%c¢) 14% Butler Bros (2) 4% Bwana M Kubw: 3 Cab&WireLtdA rets. 1% Cab&WireLtdB rcts. 3% Cab&WireLtdpf rcts s C A M Co ctf: 243 Can Marconi 1 Carlb Syndicate 25 Carman&Co A (2).. 30% Carnation Co. 5 Carnegie Metals. .. 20 Celanesé Corp. . 80 Celan Cor 1st pt (7). 12 Celluloid Corp, 82 Celluloid Corp 1st pf. 6% Cent Atlantic States. 20 Cent PSv A (21.75). 12 Cen States Ll ($40c) 4% Centrifug Pipe (60c) 11l Chain Stors Stk(b6) 874 Ches & Ohio (new) 97% Childs Co pf (7).a.. 1 20 Cities Service (330c) 84 Citles Serv pf (6)..., 10 Clev Tractor. 3% Club Alum Uten... 4 ColonOil..... % Columbia Syndicate. 2 Comwlth & Sou war. 210% Comwth Edison (8). 93% Comwith Pow pf (6) 124 CommuntiyWatServ. 4 Consolidated Copper 12% Con Dairy Prod (32). 71 Con Gas Balt (3).... 20% Con Gas Ut A (2.20). 214 Cons Instrument. 10 Cons Laundries. . .05 Con Nevada-Utah 11 Con Retail Strs 2% Consol Royal (60c) 10 Continental Ofl..... 30 Cuoper Bess pfA(2) 12% Corroon & Reynolds Cor & Rey pf A (6). 17% Crocker Wheeler(n). 39 Cr&Bpt(3%)ww. 30 Crowley Milner (2).. % Crown Cent Petrol. . 3% Curtiss Alrports vic. 6 Curtiss Flying Serv. 21 Curtiss Wright war. 65 Darby Pet (1).. 17 4% Dayton Air & Eng. 310 Deere & Co (6). 5% De Forest Radio. 2 Derby Oil & Refin... 5% Detroit Atreraft Cor. 9 Dix Gas & Utllitie: 14% Doehler Die Casting. # Dolores Esperanza.. 16% Douglas Alrcraft. . 50 Dow Chemical (2)... 4 Dubeller Cond&Rad. 120 Duke Powder (5) 3% Durant Motor: 3 Duz Co., Inc,, sast Gas & F Asso. st States Power B 100 14 El Pow Assoclates A 15 Pow Assoclates. . 94% ElP & L2d prA (7). 10% El P & L opt war. 3% El Sharehold 131). 45% El Sharehold pf ( G&F cum pf (8). % Empire Pwr Corp(2) 147 Em.p Pub S.A(1.80) % iEngineers Gold Eureka Pipe Line(4) Evans Wallow Lead. 4 3 Fairchild Aviation 61 Fajardo Sugar, .10 Faicon Lead. % Fandango Corp..... 9 Fedders M{g A (2) 214 Flat Stk deb rts, 194 Flat Stk deb ris rets. 47 Finan Inv N Y (b8) 30 Firestone T&R ne: 8 Fokker Aatreraft 15 Ford Motor Can 3 Ford Mot of Fran 10'4 Ford Motor Ltd, 20 Fourth Nat Inv 10 Fox TheatCl A 4% Gen'al Alloys (80c). 87 Gen Am Invest new. 42 7% Gen E Ltd rete (60¢) 29% Gen Fireproof (2)... 10 Gen Indus Alcohol 10% Gen Laundry Mach. 10% Gen Rity & Utilities. 60 R & Utll of (6). 24 Gen Theat Equip vte 80 Glen Alden Coal (10) 124 Globe Underwriters. ' Gold Coin. .. 2 Gold Seal Eln. 21 Golden Center. 16 Goldfield Consol 3214 Goldm Sach TC (b6) 42 Gorham Mfg \mux') 00 1 34 22% 6 121 3 50 00s 106 844 z9% 3 89w 3 b 202 3 10s 249 4 100 2 14w AR DR AN R ANN HANS DO 12 372 7% 10,102% §2tiop 18 5 1 3 42 THE Sales— Add 00. Open. High. Low Close 9% 2 124 17 M 1% 1% 1 240 240 107 107 344 34w 11 11 100 ,100 38 38 16% ~ 17% 234 231 35% 38% 4 4w bl W 275% 110 16% 504 110 10 1 274 110 16% 53% 110 154 15% 291 294 221 86 2% 234 95 95 804% ,90% 31, 125 3% 2% 48 80 17% 3 3% 2% 48% 80 17% EVENING STAR, WASHINGTO Received by Private Wire Direst to The Star Offies ~Prev. 1920~ Stock and ’ Hizh. Low Dividend Rate. 19% 1% Goth Knitbac Mach 23 162 48 50 Gt LakesSteel pt pf. 10 Groc Stors Prod vte. 18 Ground Gripr(t1%). 24% Guenther Law...... 115 Gulf Ollof Pa (1%). 16% Hall Printing(t1%). 2 H'd Page p pf (19¢) 1% Happiness Candy 277 Haygart Corp. 14% Hazeltine Cor: 3% Helena Rubenstet 1% Homaokla Of). . 6 Housion Gulf Gas. Hudson Bay M & S.. 744 Humble Oil (12). 27 Hvdro El Serv (12) 10 Hygrade Food Prod. 260 Ilinols P L (20). 22 ImpO1l Can n (50¢). 26 Ind Pipe Line (new). 17 Ind Finefts (b10%). Indian Terr Illum Insull Utll. Inv... InsCoN A (12%)... Insurance Sec (1.40) Intercoast Trad Co. . % Intercontinent Pet n 6% Intern Perfume (1).. 15 Int Petroleum 37%e. 5 Internat Products. 11 *IntSaf RB (12%).. 25'% Int Superpower (31). 28% Internatl Ut A(3%). 3 Internatl UtB... 12% Interstate Equities. . 40% Interst. Eq. cv-pf.(3) 1 Iron CapCopper..... 14% IrvAIrC (2) (1.50). 6% Italian Superpow A.. 2% Jonas & Naumburg 15% Jon & N cum pf (3) # Kerr Lake. ... 241 Klelnert Co (214). .. 1% Kolster-Br (Am Sh). 30 Lackawanna Sec(4). 815 Lakey F & M (12.40) 81 Lane Bryan tine (2). 19 LazarusF & R Co... 1714 Lazar F & R Co cod., 23 Lefcour Real nf (3) 63 Lehman (The) Cor 7% Loews Inc deb rts 2 Leonard Oil.. Lerner Stores Ley (FT) & Co (3) 11% Libby McNeil & L 3 Loulsiana Lan & Ex. 20% Mac Marr Stores. ... % Magdalena Syndicat. 7 Marconi Int M 5234¢. 10 Marion Steam Shov. 1 Mavis Hottlin 46% Mayflower Assn 40 Mead John (13%) 9% Memph Nat Gas C 1% Mesabi Iron. 5 Met & Min Ine (1.20. 215 Mexjco-Ohio Ofl. ... 18 Mid West Util (b8 %) 92 Mid W Utll ev pf(6). 15 Mid Royaity ev pf 2. 46 Midld Stl Prod 1592, 8 Mo-Kan P L (t5%). 994 Moh Hud P 2d pf(7). 114 Montecatini deb rts. 38 Moody’s pt pf 13.75. 354 Morrison Elec (1) % Moun & Gulf (.08). 7 Mount Prod (I.60). 5% Municipal Service. 8 Nat Amer Co (2) 64 Nat Aviation 7215 Nat Biscuit 5 NatFa 10% Nat inv ew, 99% Nat Pow & Lt pf (7) 20 NatPubSvaA (160). 15 Nat Rub Mach (2)... Nat Screen Serv 1.60 7 34 223 6 125 50 50 106 106 106 2% 28% 29% 897 EO% BO% 19% 19% 19% 4% A 4% 6% 6l 6% k % 4. 3% 3 249 249 249 101% 100 101% 145 14% 14 5% 5% 19 19 93 oy 234 5 10 11w 41 15 1 4 8% Thle 1027 102% 3 22 24% 99 4% 114 15 4o at Transit (1138). at Unlon Radlo. ... 214 New Brad Ofl (50¢). 18% New Hav Clock t1%. ew Jer Zinc n(t4).. ewmont Min (34).. Newport Co (new).. 7% N Y Auction (13%) 20 N Y Invest (120) 2 N Y Invest (war)... 11% N Y Pet Royalty (1). 111 N Y Telpf (6%).. 12 Niagara Hud P(40 2% Niag Hud Pw A 2 Nlag Hud Pw B war. 12 Niagara Shars b1-40, 21% Niles Bement Pond.. 1 Nipissing (30c, . 8 Noma EI Cor (1.60). Noranda Mines . 5 North Am Aviatfon.. 6% North Cen Tex (60c) 35 NEPower (t1%)... 115% North St Pow A (8). 100 North St Pow pf (7). 17% N W Engineer (2)... 20 Novadel Agene (2).. 15 Ohio Coppes . 6414 Ohio Oil (1234 i 814 Oflstocks Ltd A t50e 10% Outbd Mot A (1.80).. 24% Pac G&El1stpf1%. 12 Pac Western Ol 2% Pantepec Oil. . 6 Parsm C Mfg (2.40). 20 Penn Mex Fuel (2).. 14% Pennroad Corp 861 Penn Ohlo Ed p 98 Penn O Ed prpf(7) 106 Penn Pr&Lt pf (6).. 45 Peop Drug Strs (1).. 25 PeoL&P A (a2.40). % Phillp Morris Ine. .. 10 Pick(A)B&Co pf 1%, 20 Ple Bak of Am A(2). 61 Pilot RT A (1.20)... 814 Pltney B P n(20c) Pittsbgh Plate G 13. 12% Polymet Mfg (31)... 35 Portland Elec Pow. . 14% Power Securities pf. ‘1% Premier Gold (24c). 6% Prince & Whitely. Prince&Whitely pf 3 5% Prudential Inv, . 16% Pub Ut{l Hold war .. 98 Pug S P& Ltpf (6). 55 Rwy & Lt Sec (t4).. 7' Rainbow Lum ProdA 4% Rainbow Lum ProdB 14 Relter-Foster (10c). 14% Rellable Stoes b1%.. 12 Reliance Mana; 4 Reynolds Bros Inc... 18% Reynolds Met (new) 9 Rich R cum pf (3%) 30 Rike Kumler........ 22% Roan Antelope Min.. 10 Rochester Cent Pow. 45 Ruberold Co (4) 30% Rudd Mfg Co. 25 Ryerson (JT) s 14% St Regis Paper...... 95 9 Salt Creek Prod 12). 25 Schiff (The) Co ( 10% Schulte Real Esta 4 Schulte Un 6c-$1 St. 10 Seiberling Rub (1).. 4 Selected Industrie: 50% Sel Ind allot ofs 5. 49 Select Ind pr (6%).. 31, Sentry Safety Cont. 48 Sheaffer Pen (13)... 3 Shattuck Den Min... 67 Shndoah Corp(b6%) 14% Shenan Corp pf (3) So Cal Ed pf A ( 20 SoCal Ed pf B(2%4), 21% SoCal Ed pf C (1%). ' So Am Gold & Plat.. 4 South Penn Oil (2).. 100 SEP&Lpf(7). . 5% Southern Corp...... 4 Solce& Utilities B 11'x Southland Roy (1 9% € W Dalry Product, 44 S W Gas Utll. % Standard Motors. ... 45 Stand Oil of Ind 12% 29 Stand of Ky (12)... 16 Stein(A)& Co(1.60). 31 Starrett Corp pf(6).. 2 9 4 Superheater (111). 4 Sunray Of 25'% Swift Inth ¢ 21% Swift & Co (8). 89 Swiss-Am El pf (6). 10 Syrac Wash M B (1) 404 Tampa Electrio (32) fl Teck Hughes (60c). . . 475 9 EOnxEea mRee R [T =T JEPRP NSRRIV | - =) Sl ke Samae - Svann Fnuns-Zan @ EeBeann -~ ‘o Strs (1.60). - 2 .150s 1 8 2 28 1 5 155% 1102 1 3 370 17 6 4 5 2 2 4 12 2 12 108 1 504 1 1 32\ 1 St Regls Paper pt(7) 528 100 1 10 M 7 274 Close. ¥ 59% 1% 19% 27% MONDAY, DECEMBER 192 215 35'% 230 52 69% 1% 22% 274 133% 132's 133% [N El 267% 108'% 1 20 62 16% 101% 1 1% 40 36 1 104 10% 06 24% 21% 181 6 225, 25 21'% 18% 23% ™ 3% 18% 693 125 1 29 3 151 113% 1 14% 3% 131% 7 24% 30% 6% - Tin 384 155% 1 102 1 20% 22 38% 1% 714 100 13% 26 15 3% 137 22% 15% 94 104% 1 4 107% 1 52 29 35 50 35 321 9% 19% 100 12 30 10% 1 415 3 4% 18% 164 [ 1% 53% 36% 19 3% % 16 30 4 15% 398 407 9 3204 24% 2 1% 5% 20 6% 3% 10% 10 8T 35 13% 11% 3% 20% 243 9% 2%, 25% 084 19 62 16% oL 1% 40 36 7% 9% 9% % 8l 3% 16 17% 6 2215 S 3% 18 694 16% 29 13% 13% 16% 338 6% T 38% 53 02 20% 22 1% 0% 10% 12% 25% 14% 3% 13% 207 14% 94 044 07% 53 18% 00 11% 30 104 4% 41% 105 6 4 13 16 1% 4 15% 398, 401 81y 821, 13874 1381, 92 10 50 Bl 50 5% 92 10 50 3 25 2 1% 35% 21 5% 116 107 TexasP& L pt(7).. 30s 104 '101 104 104 . ADVERTISING PLAS T0 BE MANTANED Reports Indicate Original Programs for 1930 May Be Increased. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, December 2.—“The busi- i ness is here and we are going to get it.” That represents the general attitude of producers, manufacturers, distributors, wholesale and retail merchants through the country as shown by a careful sur- !vey in various sections. This survey points out with unmistakable plainness that the business factors involved de- pend on advertising to accomplish their purpose and to prevent any slackening of buying. The big national advertisers in scores of instances intend to increase their newspaper advertising appropriations for 1930. «department stores and local advertis in various sections are fol- lowing 3 No Cancellations Reported. Two large advertising agencles here report that they have had no cancella- tions of 1930 schedules so far as na- tional advertising 18 conceraed. and that there has been no lessening of volume. On the other hand, they say there has been temporary tightening up of some of the department store accounts. One of the most eminent judges of distribution policy in the United States said_today: “The only critical factor in the ad- vertising situation is consumer support. The promotional effort must be redou- bled, and if this is done I cannot find that there is any likelihood or reason for a letdown in business. In most cases advertising schedules are made out on the year in advance, based on the busi- have not modified their schedules. I should say that advestising is standing up well, and there is no sign of a bad tions.” Other advertising agencies with de- partment store accounts reported that there had been no curtailment among their customers here. ! Sectional Reports. Dispatches from New Orleans report that newspapers and advertising agen- cies find that local, sectional and na- tional advertising is running at about the same volume as last year, with no indication of any reduction in advertis- ing appropriations, but some hesitancy still existing among retailers. On the other hand, some of the large oil com- panies who cover the South expect to increase their appropriations. San Francisco reports that the ad- vertising managers of the four leading department stores are unanimous in saying that December advertising bud- gets would be adhered to, and there is no reason to expect a let-down. Lead- ing Pacific Coast advertising agency ex- ecutives say indications are that na- tional advertising appropriations will continue as they are or be increased slightly on the coast. The advertising managers of leading papers in the district say that November and Decem- ber advertising shows increases for nearly all papers and that the outlook is for a further steady increase. In the Philadelphia district advertis- ing authorities assert that any uneasi- ness agents may have had is disappear- ing and that the trend of appropriations in that section is upward. Local de- partment stores have tested buying power in Sunday issues and were well repaid. One radio manufacturer in the dis- trict doubled his appropriation for 1929 and expects to maintain this increase next year. Hesitancy Disappearing. Advertising has shown some slowness | in the last few weeks in the Chicago | section, but the tendency toward hesi- tancy is disappearing and a pick-up is in prospect. Only one national schedule has been canceled in the Atlanta sec- tion, :ccording to reports received here, and this was only for the purpose of re. vision. The leading Atlanta papers e: pect 1929 to establish an all-time high record for advertising volume. . From the Cleveland district come statements that national automobile and financial advertising has been somewhat reduced, but that local finan- cial advertising is holding up well. Ad- vertising mediums there expect that the national financial advertising will come in its usual volume as soon as stock n}xairkat conditions become further sta- ized. Advertising specialists in New York have issued warnings to their custom- ers declaring that a curtailment of their advertising programs.might not only render the advertising campaigns ineffective, but might bring upon the advertisers the very slump they age de- sirous of avoiding. HUNT GIVEN UP FOR MAN WHO LEAPED FROM SHIP By the Associated Press. NEW YOREK, December 2.—The | Radio Marine Corporation of America last night reported its station at Chatham, Mass., had received messages from the liner President Roosevelt say- ing a third-class passenger had jumped overboard and that search for him had been abandoned. Two messages, it was said, were sent from the President Roosevelt, which left here Saturday, to the steamer Mil- waukee, The first, sent at 7:40 pm. said: “Have lost a man overboard and are searching for him now. ‘The second, transmitted an hour later, thanked the Milwaukee for aiding the search, and said; “Have given up search for third-class passenger who jumped over- board.” Neither message gave the identity ot man. TREASURY CERTIFICATES. (Reported by J. & W. Seligman & Co.) Rate-Matdrity: Bid Offer. tas Dec. 15, 1001-32 100233 1100232 1003 3: © 100 17-32 100 1 3tas Mo ness done during the preceding year. 1| find that on this basis large advertisers | "o RYE letdown as & result of recent condi- March 3125 Sept. 3138 Dee. NEW YORK COTTON. NEW YORK, December 2 (#).—Cot- ton opened steady at a decline of 1 to 4 points today in response to relatively easy Liverpool cables, but steadied up after the call on some trade buying and local covering. Reports of continued unfavorable weather for saving late cotton in the South may have been a factor, while there was also buying or covering in preparation for the private crop reports which are expected before the publica- tion of the Government report next Monday. Owing to unfavorable weather during November, some traders expect a reduc- tion in crop estimates, and this idea may have been behind part of the early buying. January was selling around 17.32_and March 17.62 at the end of the first half hour, or about 2 to 3 points net higher. Private cables reported continental liquidation in Liverpool absorbed by trade covering at the decline. They said that cloth buyers were operating cautiously and that manufacturers were losing ground. GRAIN MARKET. CHICAGO, December 2 (P).—Blg‘ deliveries in Chicago today on Decem- ber wheat contracts led to much in- creased pressure to sell, and caused matérial setbacks in prices at times. The total December wheat deliveries here announced during trading hours were 9,081,000 bushels, an aggregate seldom equaled, and apparently in- dicating that a great many speculators | were backing away from actual owner- ship. There was disappointment, too, that the United States wheat visible cupply decrease today, 2,388,000 bushels, was smaller than numerous traders had expected. Wheat closed unsettled, g to 1 cent per_bushel below Saturday's finish. Corn closed 1 to 13;al7y advanced, oats unchanged to % up, and provisions showing 2 to 20 cents gain. WHEAT— December March . 835 233 233 333 B35 e 832 55 r January Mey Wall Street Briefs By the Associated Press. 4 New high records were established by the Associated Gas & Electric sys- tems, which, in a consolidated state- ment of earnings of properties since dates of acquisition. shows a 92 per cent increase in gross carnings for the 12 months ending October 31, a jump of 111 per cent in net earnings, and a balance for dividends and surplus more than double the amount. reported for the previous 12-month period. e . American National Co., Inc., and C. F. Childs & Co., Inc., are offering $500,- 000 Territory of Hawaii 41, per cent gold bonds, due 1952 to 1958, inclusive, at prices to yield 4.30 per cent. An offering of an issue of $4,000,000 City of Detroit, Mich, 5 per cent bonds, maturing from August 1, 1930, to November 15, 1933, was made today. Orders for lumber booked by 834 lead- ing hardwood and softwood mills dur- ing the week ending November 23, as reported to the National Lumber Manu- facturers’ Asociation, were only 77 per cent of production, compared with 82 per cent a week ago. The 834 mills gave total production as 376,690,000 feet, while 838 mills the week before gave production as 362‘50.');000 feet. BONDS ON THE CURB aminum Aluminum . E 55 '28... m P & L 65 2016 ppalach Pow 55 ‘38 rk_Pow & Lt ‘33 As Tel Ut 5%as '44 C t & Me 6s m '33 ss R Fl 6s ' 10 Nat F Prod 6s 9 Neisner Bros 6 1 P &L Sales in FOREIGN BONDS. thousands. s NC'# ussian 5ias '31.... 2 Stinnes 75 “36 xw... as—Actual sales rights, Under rule. When issued. New' With warrants. | publication,is regarded as authoritative, {old hay is about over. | requirements. | No. 1, per ton, 9.00a10.00. | FINANCIAL PAY ROLLS SHOW GAIN | IN SOME INDUSTRIES | By the Associated Press. Industries engaged in making ma- chine tools show the largest relative increase in pay roll totals since 1926. Department of Commerce compila- tions for Octobey record an increase of 46.5 per cent for this group, using 1926 ; as a base. Manufacturers of electrical equipment follow, ,with a rise of 30.6 per cent. Other industries showing a substan- tial increase are woman’s clothing, hosiery and knit goods, printing and newspapers, flour, confectionery, struc- tural iron, agricultural implements, pa- per boxes and furniture. Industries showing the largest de- creases are those producing pianos and organs, cast iron pipes, bricks, tile lndI terra cotta. In general, pay rolls were 2.3 per cent higher than in 1926 and 6.4 per cent above October of last year. o DENIES BANKS TRIED T0 HALT STOCK DROP Spectal Dispatch to The Star. [EW YORK, December 2.—That the bankers’ pool formed in the office of J. P. Morgan & Co. on the second day of the recent market slump had no intention of attempting to stop the decline of prices is disclosed in the monthly review of the National City Bank, whicn will be mailed %0 stock- holders and depositors todsy. Its pur- pose,*according to the publication, was to make the decline an orderly one, and to insure that a buyer at some price would be ready for every offer of sale in the pivotal issues. The operations of the pool are described as a ‘“rear guard actlon necessary to protect the Tetreat.” ' ‘The description of the formation and objectives of the pool, as told" in the because Charles E. Mitchell, chairman of the bank, was active in the forma- tion and guidance of it. While the pool has not yet been liquidated, the publication says, its losses, if any, will be small, and at no time was it found necessary to employ half of the fund which had been subscribed to “allay the excitement of the moment, re- store normal conditions in the market, stop the needless sacrifice of values and prevent the injury to all business which usually results from a major crisis.” Baltimore Markets Epecial Dispatch to The Star. BALTIMORE, Md., December 2.— Poultry, alive—Turkeys, pound, 33a35; old and crooked breasts, 25; young chickens, 24a28; Leghorns, 22; old hens, 22a27; Leghorns, 18a19; poor and thin fowls, 17a18; old roosters, 18a20; ducks, 16a25; gesse, 16a22; guinea fowls, each, 40250; pigeons, pair, 25. Eggs—Receipts, 1,208 cases; native and nearby hennery, dozen, 53a54; firsts, 50; pullets, 40a45; current re- ceipts, 43a45; culls and dirty, 25a30. Butter—Creamery, good to choice, pound, 41a46; ladles, 35a36; rolls, 31a32; store packed, 21; process butter, 40a42. Vegetable Prices. Potatoes, white, barrel, 1.50a4.00; 100-pound sacks, 1.75a2.50;' sweet potatoes, barrel, 1.50a2.25; bushel, 75a 1.25; yams, barrel, 1.50a2.25; be: bushel, 2.50a4.0( e. basket, 40a60; carrots, 100, 2.00a4.00 caulifiower, crate, 2.25a3.00; celery, crate, 2.00a3.00; cucumbers, hamper, 5.00a6.00; eggplants, crate, 1.25a3.00; lettuce, crate, 4.00a5.50; onions, 100 pounds, 1.50a1.75; parsnips, basket, 40a 50; peppers, crate, 6.50a7.00; pumpkins, 100, 3.00a10.00; ‘spinach, basket, 30a60; squash, crate, 2.00a3.00; tomatoes, crate, 2.5023.50; turnips, hamper, 25a35; apples, bushel, 75a2.75; cranberries, bo 3.00a4.25; grapefruit, box, 3.2 00; grzisngazfisbux. 3.0024.50; tangerines, box, Live Stock Market. Cattle—Receipts, 500 head; fair sup- ply; market active and stronger. Steers—Choice to prime, none; good to choice, 12.00 to 12.35; medium tc good, 11.00 {o 12.00; fair to medium, 10.00 to 11.00; plain to fair, 9.00 to 10.00; common to plain, 8.00 to 9.00. Bulls—Choice to prime, none; good to choice, none; medium to good, 7.50 to 8.50; fair to medium, 7.00 to 7.50; plain to fair, 6.00 to 7.00; common to plain, 5.00 to 6.00. Cows-—Choice to prime, ncne; good to #¥% 15 CURB ISSUES EASE IN MIXED MARKET Oils, Pipe Lines and Few Others Stand Out Against Trend. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, December 2.—Opening with a mixed trend, after the longest trading suspension since the World War, curb stocks, on active trading, eased off in today's session. The olls, pipe lines, natural gas stocks and a few specific issues like the Ford gréup, Roan Antelope and Crocker Wheeler stood out against the general trend. Responding to the opening of the American Petroleum Institute meeting at Chicago today and reports of with- drawals from Seminole storage tanks, olls were higher early in the session, Continued uncertainty about red metal price trends created irregularity in mining shares. Specific mine develop- ments enabled Roan Antelope to move against the trend. A block of 18,100 shares of Anglo- American Oll, ly 1 block to appear in early trading, came out at 17, unchanged. London merger rumors and reports of passing of control creat- ed a short-lived bulge in General Elec- trie, Ltd. Pipe lines continued the upward trend of the previous session. Part of the present buying in this group is based on the advice of a national statistical service, which finds the problem of transporting ofl more important just now than petroleum production. Pos- sibilities that some of the abandoned ol lines will be used to transport nat- ".‘l“l zf! nndbzn‘cent cdlplhl distribu- lons also are used to bid up pi line shares. 2 P Natural gas stocks, likewise ing to the advice of statistical met a brisk early demand. The early upswing of Ford Motor shares was brought about by further details of the new model. One of the features of the was the introduction of Pennsylvania Railroad rights to the Curb. ‘They opened in a block of 15,000 at 3! and moved within a rngtlonll range. im- road Corporation, hs well as Pennsyl- vania shares on the big board, were gf‘k;uy lower as a result of the rights Fox TLRuters A was one of the weak- est spots in the industrial list, selling off in sympathy with Fox Film on the big board. FILES TAX SUIT. BALTIMORE, December 2 (Special). —The Western Maryland Railway Co. has filed suit in Federal Court for the refund of $315,000 in Federal taxes paid between *1920 and 1924. The late Joshua W. Miles, collector of internal revenue in 1920, is named defendant in a claim for $15,000, whilef the other claims are directed against Galen L. Tait, collector since then. , The sum asked includes accumulated interest on the alleged overcharges, which attorneys for the railroad point out in their petition grew out of refusal to allow deductions on the discount values of mortgage bonds. Claims for ;‘eefyusnl:x‘l;mve dbe&l;l refused, the attor- , an e court now wil asked to pass on them. 3 respond- services, CHICAGO DAIRY MARKET, CHICAGO, December 2 (#).—Bi —Firm; receipts, 8,206 mh"::mm“:':yr extras, §2; standards, 40; extra firsts, :g :A_)‘:l, firsts, 37 to 381%; seconds, 35 515, Eggs—Firm; receipts, 1,545 cases; prices unchanged; extra firsts, 51 to 53; graded firsts, 48 to 49; current l"‘or;"fk cnww Gs:u’ordlg:r{ofl;l.l. 37 to 39, erator extras, ‘a erator firsts, 371, iy FOREIGN EXCHANGE. (Quotations furnished by W. B. Hil 3 ‘Nominal soiq. Seliin checks value ('fl‘f ). a: Rome, lira . Zurich, iranc.. Vien) hillin choice, 7.50 to 8.00; medium to good, 8.50 to 7.50; fair to medium, 5.50 to 6.50: Ce plain to fair, 4.50 to 5.50; common to plain, 3.75 to 4.50. Heifers—Choice to prime, none; good to choice, none; medium to good, 9.00 to 10.00; fair to medium, 8.00 to 9.00; plain to fair, 7.00 to 8.00; common to plain, 6.00 to 7.00. : Fresh cows and springers, 60.00 to 150.00. Sheep and lambs—Receipts, 2,200 head; mcderate supply; market higher. Sheep, 2.00 to 6.00; lambs, 6.50 to 14.00. Hogs—Receipts, 4,600 head; fair sup- ply; market stronger. Lights, 9.90 to 10.15; heavies, 10.00 to 10.30; medium, X 4 roughs, 7.40 to 9.00; light pigs, 9.50 to 9.80; pigs, 9.75 to 10.00. Calves—Receipts, 450 head; moder- ate supply; market higher. Calves, 7.00 to 17.00 Hay and Grain Prices. ‘Wheat—No. 2 red Winter, spot, 1.32; No. 2 red Winter, garlicky, spot, 1.28%4; December, 1.28Y4; January, 1.30%%; No. 3, garlicky, 1.24 Corn—No. 2 domestic, yellow, 1.08a 1.09; cob corn, new, 4.50. Oats—No. 2 white domestic, spot, 56a Sg‘z; No. 3 white domestic, spot, 55a 55%a. Hay—Recepits,. Season for A little new crop is arriving, but hardly enough upon which to establish quotations by grades. Where in good order new hay sells at from 14.00 to 17.00 per ton, ac- cording to its quality and condition, receipts by truck taking care of most none. Straw—Little demand for straw. Re- ceipts generally ample. Wheat straw, No. 1, per ton, 9.00a10.00; oat straw, Theater Construction. NEW YORK, December 2 (#).—Con- struction of 24 theaters on the Pacific Coast at a cost of $15,000,000 is planned by Fox Theaters as part of its 1930 ex- Xw—Without warrants. pansion program. ~Prev. 1920~ Low Dividend Rate. Texon Oil & Land Thermold Co (2) Thomp Prod A (12 Tish Realty & Con. . Todd Shipyard (4).. 'ransamer n (11.60) n Con Air Tran.. Afr Trans cfs. . S.(A) % Tri-Cont Allfed..... Tri-Continental Cor. Tri-Cont Corp pf (6) Triplez Safety Glass Tri Utilities...... . Trunz Pork Stores. . Tung-Sol Lamp (2). Ulen & Co Unton Am: Union Tobaeco. United Corp wa United Ch pt pf (3), United Dry Docks. .. United Elec Ser.. ... . Unit El Ser pur war. United Gas Co.... UnitedMilk Prod.. " United Molasses Ltd Un N G Can (11.60), 4 Unit Prof Sh (1.20)., it Reproducers B, USDalry B... U § Fininshing (12), USFoll B (... B 4% n. High. Low 9 —Prev 1029~ Close. 9% 224 25% 9% 9% 21% 2654 San Utab Ap Uil Pow Vacuum 4 Vick Fin 4 Worth, 1 % annual paymen *Ex-dividend. tPa Stock ana U S Radiator (2) U S Shares Fin. United Wall Paper. Unity Gold. vove Unit Verde Ext (4), ver&Lt($1).. UtP &L B ctfs (1), Utllity & Ind....... Util & Ind pf (1%)., Utllity Equities..... Van Camp Packing. . Van Camp Ppf(1%). Venezuela Pet (29¢). Walgreen Co. 4 Walker Mining. Watson (J W) Co. Willlams R C (1 Zonite Prod (1.60). ., RIGHTS. % Trans Corp,.. Dividend rates in dolla; Sales—. Add 0) Open. High. Low. 45 5 14 70% 43 8% 17 ex (60c) . o1l (1434).. Corp 51 11% ne A. 235 19% rtly extra. tPlus exti cash or stock. bPasable 1o stock. d Payable in preferred stock. it T JAMES Y, PENNEBAKER Nat.5291 1520 K St. N.W. Oldest National Bank in the District of Columbia This Bank ‘Takes Care’ of| Its Customers —not only in times of “easy money,” but also in times of de- pression, g This policy has been steadfartly maintained d\roud}n- out the 115 years of - The Metropolitan's existence. 3% on Savings National Metropolitan 115 Bank 115 Years Years old ol 15th St. opp. U. S. Treasury