Evening Star Newspaper, December 5, 1929, Page 11

FINANCIAL. STILL INCOMPLETE Commission’s - Report Indi- cates Lack of Agreement on Proposals. BY J. C. ROYLE. Plans for railroad consolidations of | the Interstate Commerce Commission are still far from cqnplete. This be- came evident today with the issuing of the commission’s annual report for the fiscal year ending October 31. The report declares frankly, in effect, that | the commission is not sure of its ground. The commission asks a thor- ough investigation and serious consid- eration by Congress of the so-called “holding corporations” as factors in the railroad consolidation scheme. ioners are still unagreed al provisions of the merger plan which it will submit to Congress, although many outside of the commis- sion have been insiswat upon fixing a date for its publication. The commis- sioners themselves do not know when it will be submitted or what all.its pro- visions may be. The latter may vary decidedly, according to action taken by the railroads themselves. There are & large numb-r of proposals now before the commission submitted by the raii- roads. The commissioners make it plain that the railroads can either with- draw these applications or leave them for consideration by the commission. If the latter course is followed the com. mission will investigate and judge them. If they are found meritorius the com- mission’s plan will be amended so as to permit their execution. Power Is Limited. The> commissioners realize they are totally without power to impose any plan of their own devising on the rail- roads It must be sufficiently inviting to attract the latter or they do not have to accept it. The commission in its report makes it quite evident that it anticipates long and complicated legal action in connection with some of the plans and regulations and proposals Which are before it. This is the case with regard to “holding corporations,” in connection with which the commission says: “The subjection of the unification of car- riers by railroads to the orderly proc- esses of a carefully planned scheme of public regulation is very lizely to be partially or wholly defeated by such *holding corporations,’ subject to the possibility that the Clayton anti-trust act may, by protracted litigation, enable the commission to maintain control over the situation. We call this mat- ter to the attention of Congress because we believe that it deserves thorough inyestigation and serious consideration.” ‘The report says difficult legal and perhaps constitutional questions are in- volved and to some extent the remedy must be fixed by the fact which thorough investigation may disclose. ‘The commission’s report singled out two corporations as illustrations of - the holding companies to which reference was made. These were the Pennroad Corporation and the Alleghany Cor- poration. Situations Not Parallel. Stockholders of the Alleghany Cor- poration, however, make it plain that the situations of the two corporations cited as illustrations are not parallel. ‘They point out that the stock of the Alleghany Corporation is not held by any one group and that the company has 11,000 shareholders throughout the country. They also point cut that the Alleghany Corporation does not con- trol any railroads or own any rail- roads; that it is an investment com- pany whose activities are not restricted in any sense to the railroad field. ‘The Pennroad Corporation in its turn makes it plain that it is not controlled by the Pennsylvania, although its stoc] holders originally were also stoci holders of the Pennsylvania Raliroa (Copyright, 1929.) GRIGSBY-GRUNOW CO. GAINS IN EARNINGS By the Associated Press. CHICAGO, December 5.—Directors of Grigsby-Grunow Co. have voted the regular quarterly dividend of 50 cents a share on the common stock, payable January 2 to holders of record Decem- ber 16. Acquisition of the General Motors plant here, which has been un- der lease, was announced also. It was announced that earnings for the first six months of the fiscal year, as of November 30, exceeded dividend requirements for the entire year. Sales in DOMESTIC BONDS. thousa; % Sales in FOREIGN BONDS. thousinds. 4 Buen Aires Prov 75 152 06 06%s G B i) Dini EL Ser 78 756 xw 8 u"'n W am 'n 41w 88" X n ~Prev. 1920— Hi Low. 85 Stock ana Dividend Ra Acme Steel (4) Alr Investorsvte, 12 AirInv, Inccv pr. 110 Alabama Gt Sou $7.. 109% Alabama Gt S pf 37.. 4% Allegheny Gas Corp. 2ta Alexander Indust. 2 Allied Aviation. 10% Allled Mills, Inc.... 23 Allied Pow & Lt..... 40% Allied Pwr&Lt pf(3) 71 AIP&LIstpfb... 146 Aluminum Co of Am 103 AluCoof Am pf(6).. Alumin Goods (1.20) Am Br B El {d shs. .. Am Chain.. . Am Cit PRL A (a3).. Am C P&L B (b10%) Am Com P A (330c). Am Com P B ($30c)., 4% Am Cmwlth Po wa: Am Equittes. Am For Powe! Am Gas&Elec (31) 5% Am Invest Inc B 3 Am Investors (war). % 69% Am Laundries (15).. 190 Am Lt & Trac (10) Am Manufactur Co.. % Am Maracaibo. . 51% Am Salamand (3%). 10% Am Solvents Chem 15 Am Superpower. Am Sup 19% Am Yvett 8 Anchor Post F (3)... 13% Anglo-Am v cod 8be. 11 Anglo-A n v cod 3bc.. .09 Ariz Globe Copper. .. 23% Arizona Power. 3% Arkansas Nat Gas. 61 Arkansas Nat Gas A. 4 ArkNGcmpf (60c). 55 Asso-Elec Ind Ltd. . 3514 Asso GEE A (32.40). 3% Asso G&E A debrts.. 315 ASSO Rayon.......es 30% Asso Rayon pf (6). .1 24 Atl Coast Fish(1.20. # AtlantFruit & Sug. 1 Atlantic Lobos pf. 15% AutV Mcv prpt (2). 20% Aviation Corp of Am 23% 12 Aviation Credit.. 139 117% Bab & Wilcox (T) 50% 46% Bancomit Corp new.. 190 144 Bell Tel of Can (8) 27 16% Bickford, Inc.. Bliss Co (E W) (1) 3% Blue Ridge Corp. ... 23% Blue R Corp cv pf 13, 29 Blumenthal (S). 26% Brit Am To regtl.; 4 Brown Fence&W(B). 55 Buckeye Pipe L (16) 22 Buf N&EP pf (1.60). 38 Burco, Inc conv pf... 3 Burmarcts (31%¢) 3 Cab&WireLtdA ret: 1% Cab&WireLtdB rcts. 3% Cab&WireLtdpf rets 3% C A M Co ctfs, 214 Can Marconl. 1 Carib Syndicate. 30% Carnation Co. 4% Centrifug Pipe (60¢) 6 Chain Stores Dev. . 11% Chain Stors Stk(b€). 37% Ches & Ohio (new) 84 Citles Serv pt (6) 10 Clev Tractor... 3% Club Alum Uten. 40 Colgate-Pal-P (2%). 4 ColonOil..veeess % Columbia Syndicat 12% 2 Comwlth & Sou war. “9% 210% Comwth Edison (8).. 93% Comwlth Pow pf (8) -12% Communtiy WatServ. 13% Consolidat Afrcraft.. 4 Consolidated Copper 12% Con Dairy Prod (12). 71 Con Gas, Balto(3.60) 20% Con Gas Ut A (2.20) 2% Cons Instrument, 10 Cons Laundrie: 11 101% 100% Cont G&EI 30 Cooper Be: 17% Crocker Wheeler(n). 30 Crowley Milner (2) % Crown Cent Petrol..: 40 Cumb'ind Pipe L(4). 2% Curtiss Wright war, 2% Cusi Mex Mining. 6% Darby Pet (1) 310 5% D. Forest Radio. 2 Derby Oil & Refin 5% Detroit Afrcraft Cor, 9 Dix Gas & Utilities, 50 Dow Chemical (2). 4 Dubelier Cond&Rad.. 3% Durant Motors. % Earl Radio Corp..... 21% East Gas & F Ass0. .« East States Power B Eastern Utll InvA. . sler El 25% Empire Pwr Corp(2) 14% Em.p Pub 8.A(1.80).. 5 Empire Steel Corp. .. 23 Employ Reinsur 1%. 1% Engineers Gold. 13% Eng P S opt war. 42 Eureka Pipe Line(4) 4 Evans Wallow Lead. 1% Fageol Motor. 3 Fairchild Aviation Fer Enam A (16% Fajardo Sugar. F Fed Screw n:%). 2 Fiat Stk deb ri 18% Fiat Stk deb rta reta. Firem Fund In (6).. Florida P&Lt pf (1) Fokker Aaireraft. .., Foltis Fiscfer Corp.. Ford Motor Can A... Ford Motor Can B... 3 Ford Mot of France.. 21 Franklin Mfg (3). 5 Galena Signal. h Gt Am Inv vtn ll). eral Baking. eral Bak pt (l) .o ’l% Gen E Ltd rets (50¢). 29 Gen Fireproof (2)... 13% Gen Gas & El (A). 10 Gen Indus Alcohol Bales— 508 © - PYSTSTCTE TRP oY S @ C Zoxloan 61% 44 1221 16% 68% 132 THE EVENING RAIL MERGER PLAN NEW YORK CURB MARKET 61% 122% )2 B 1% 123 ll% 12 6 6% 1000 1st pf (S). 56 lOD 70 "(» 226 46% 1% 56 15% 26 2 89% 89% 89% 8% 100 11% 50s 102 1 4 6% 18% 80 13% 82 pty 6% E 1 25% 32% %% 52% 2%, 2% 2 50s 1 7 12 14 6 8 2 12 508 21 10% Gen Laundry Mach., 10% Gen Rity & Utilities, 60 Gen R & Util pf (6).. 24 Gen Theat Equip vte. 80 Glen Alden Coal (10) 12% Globe Underwriters. 2256 Gr A &P Teapf (7). 20; llfl% Gt Lakes Steel cod.. Groc Stors Prod vtc.. Ground Gripr(t1%). Guardian Invest. Guenther Law. Guif Ofl of Pa (13)+ Hall Lamp (12). 4% 12 102 41 64 19% 807% 13% 82 14 7 * 25% 32% % 52% 2% 2% 10% 15% 'WA 101 100 % 34 n7 14% 4% 14% & & 5% 41 43 35% 354 386% 281 56 21% 4% % 20s 250% 250% 250% 100 11% 102 41 6% 184 80 13% 31% 23% 17% 85 36% 18 11% 25 1 18 54 4% oY% 3% 55%, 60% " 1 15 31% 3 194 101 - 100 19 10% 26% 34% Bl 11% 4% 32% 9%, 25 % 17 & 5% 2256 227 116% 116% 1156% 54% 56 28% 143% 140 143 16% 16% 16% 26% igh, 35% 8234 707 23% 9% T 5914 22% 114% 111 17% 30% 29% 156% 100% 6% 50 79 26 89 80 14% STAR, WASHINGTON, DO, THURSDAY, DECEMBER 5, 1929. Received by Private Wire Direst to The Star Offiee Stoctana saies Divide te. Add 00. ODHI 6% Hall brinting(11%). 13 27% Haygart Corp. 14 14Y% Hazeltine Corp 10 Hecla Mining (1 31 Hollinger Gold (60c) 1% Homaokla Oll. . 15% Houd-Her cv pfA2% 6 Hot n Gulf Gas... Hudson Bay M & S.. Humble Oil (2)..... Hydro El Serv (12).. Hygrade Food Prod. Ilinots P L (20)..., 450 320 1mp Ofl Can n (50¢). Imp Tob Can (30c) Ind Pipe Line n indian Terr [llum Ind Fin cfts (b10 Insull Uil Inv. Hish. Low. 38 274% 5 Intercontinent Pet n Int. Hold. & Inv. Co.. Intern Perfume (1), Intl Petrolm (62%c) Internat Products. . . Intl Superpower ($1) Internat Ut B 214 Internatl Util (war). Interstate Equities. Iron CapCopper. 4 IrvAIr C (2) (1.50).. Isot Fraschint (1.05) Itallan Superpow A.. Itallan Superp war.. Kolster-Br (Am Sh). Lackawanna Sec(4). % Lakey F & M (12.40). Lake Superior Corp.. Land Co of Florida. . Lang. Unt. Bak. B(3( Lazar F & R Co cod.. Leh Coal & Nav (4). Lehman (The) Corp. Leonard Ofl. Lerner Stores (2) Libby McNell & L Lily Tulip Cup Curp. London T Syn rets 2. Lone St Gas (80c). Long island Lt (40¢) Louisiana Lan & Ex. Mac Marr Stores Magdalena Synd Mangel Stores. Mangel Strs pf ( Marcont Int M 12550, MWT Ltd b'r'rsh62e. Mar, Midland Corp. .. Marlon Steam Shov, Mayflower ASSn..... Mavis Bottling. ... McCord Rad B (2)... Mead Johnson(13%) Mercantile Stors(5).. 4 Mer Chap & S (1.60). Met & Min Inc (1.20., Mexico-Ohlo Oil. ... Mid West Util (b8 %) Mid West Ut pf n(6) Mid Stl Prod (16.63). Min Corp of C (26¢) .. Mo-Kan P L (b6%). Modine Mfg Co (3). Moh H P 1st pt (1).. Mohawk Min (6). Morrison Elec (1) Mount Frod (1.60) Municipal Service. .. Nat Amer Co (2).... 4 Nat Aviation.. Nat Biscuit Co new. Nat Fam Strs (1.60). Nat¥d PrB (b4%).. Nat Fuel Gas (1).... 4 Nat Investors (new) Nat Mfrs & Stores Nat Pub Serv B 1.60. at Screen Serv 1.60. Nat Sugar NJ (2)... Natl Trade Journa Nat Transit (1% Nat Union Rldlo Nauheim P! RNeet Ine cv A(1.60 17% Nelsner Bros (new). 125; 135 Nelson(Herman)(2), i New Brad Oil (50c).. New Eng Fuel n..... New Jer Zinc n(t4). wmont Min (34).. Newport Co (new). . New Quincy M (10c). N Y Auction (1%) N Y lnvest (1.20). N Y Invest (war)... N Y Pet Royalty (1). NYTelpf (6%).. N Y Transitn (1.60). 1% Niagara Hud P(40¢c). 106 14 Niag Hud Pw A war. 34 Niag Hud Pw B war. 21 Niagara Sharsbl-40. 4 Nichols Beazly Airp. Niles Bement Pond Nipissing (30c). Normanda Mines( North Am Aviation.. % Northern P L (15) North St Pow A (8). Ohto Copper. . Ohlo Ol (2%, Oflstocks Ltd A 3500 Outbd Mot A (1.80).. Outboard Motor (B). Pac G&El 18t pf 1% . Pac Pub Serv (1.30). Western Ol1 Pandem Oil. Param C Mfg Patterson Sargent. Pennroad Corp, Penn Ohio Ed p: Penn O Ed pr pf(7). 10 n% 2 12 8 21% 1 10 Perfect Stov (17%4). Perryman Electric. . Pet Milk pt (7) Petrol Corp 18t pd Philip Morris Inc. Pilot RT A (1.20)... PItts& LB (6).....0 Pittsbgh Plate G 13.) Plymouth Ol (2).... Pratt&Lambert (15) Premier Gold (24c).. Prince & Whitely. Prince&Whitely pt 3. Prudential Inv...... Pub Util Hold war .. Pug S P& Lt pf (6). 1108 Rainbow Lum ProdA Rainbow Lum ProdB Relter-Foster (10¢) . Reliance Manag (4) « Reynolds Bros Inc. .» Richmond Radiator., Rike Kumler. Roan Antelope Min. Rochester Cent Pow. Rockland L& P..... Roosevelt Field,Inc.. 634 ( Schulte Un Gc-$1 St.. Sch U bc-$1 8 pt (7).« Seeman Bros (3).... Seg Lock & H (60¢) . Seiberling Rub (1).. Selected Industrie; Sel Ind allot cfs 6% Select Ind pr (6% ).+ Sentry Safety Cont. Shattuck Den Min, Sheaffer Pen (13). .. Shndoah Corp(b6%). Shenan Corp pt (3).. Silica GelCtur.ooernt Silver(Isaac pf (7). Sim B Pcv pf (3)..e 8isto Fin Corp 6% Smith (A 0) (1.20).- 1008 169 Snia-Viscosa. Solar Refining (2%) . Sonora Producta. e e DT PN 94 74 6 26’ » BoCllEdeB(Z%)— Southern Corp. So Ice & Utilitie: B Southland Roy (1 Stand Of of Ind fl%‘ Stand Oll, Kan 12%.. Stand of Ky (12).... St Oll of Ohto (2%). 60 {24‘/, 113% St Oil of Ohlo pf (7). Iu ' 121% Swift & Co (8). 37% 26% Swift Intl (3) 49% Stand Pow & Lt..... 93% St Pow & Lt pt (7).. 13 Starrett Corp.. 31 Starrett Corp pf(6). ZB% SteinA&Cocu pf 6% . 9% Sun Inv. 324 Sun Invpt (3 l Sunray Oil... 30% Superheater (1. Prd 36% % | 354 ADVANCE ON CURB Early Profit- Taking Absorbed and List Continues Up- ward Move. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, December 5.—Resuming | yesterday's advance, curb stocks opened higher today, overcame early profit- taking and continued their upward course. Trading companies, utilities and oils were leaders on the up-side, with mines, motors and amusements heading the other side of the market. Responding to the announcement of a plan for restoring asset value, Blue Ridge and Shenandoah moved sharply higher in early trading, but Goldman Sachs and Central States Electric, both of which are associated closely with the former two trading companies, inclined to_heaviness. Electric Bond & Share, in point of activity, led the utilities. Movements of this stock, however, were overshadowed in point_of fluctuations by American Foreign Power warrants and Standard Power & Light. The last named at onc time was up almost 10 peints Although Cities Service plled up the largest volume of dealings in oils, it was dwarfed by the moves made by its sub- sidiary, Indian Territory Illuminating Oil, and some of the Standards 'like Vacuum, Humble and Ohio Oil. lines resisted profit taking. Natural gas shares, however, were not able, at times, to overcome waves of selling. Pennroad Corporation provided the outstanding feature of the opening as 12,000 shares came out at 14 or un- changed. This stock has been ham- mered by prnl(\%in*k following pre- mature circulation en to the annual report of the Intersiate Commerce Commission. The report cites the activities of Pennroad & Alleghany Corporation as possible instruments that may be used to upset railroad con- solidation plans. Other rails, such as Pittsburgh & Lake Erie, Chesapeake & Ohio new and Pennsylvania rights, were comparative- ly strong. Some of the higher priced industrials like Deere & Co., Tubize and Great Atlantic & Pacific Tea enjoyed intervals of strength. Baking stocks attracted attention by their early upswings. Pool operations accounted for the gradual climb of sev- eral of the most active radios. The present levels of curb stocks are the approximate points reached by the market on its first wide break of the year last March 27. Averages of lead- ing isdues indicate a net recovery near- ing 36 per cent from the lows touched about November 13 last. This marked upswing, which represents short cover- ings and professional operations as well as public buying, naturally has created considerable bullish talk. B e Sy ‘When the Schneider Trophy sea- plane was recently exhibited at the Science Museum of London the attena- ance jumped 14,000 a day. Baltimore Markets Spectal Dispatch to The Star. BALTIMORE, Md., December 5— Potatoes—White, barrel, 1.50a3.00; 100~ pound sacks, 1.75a2.50; bushel, 75a1.35; yams, barrel, 1.50a2.25; beans, bushel, 250a3.50; beets, 100, 3.00a4.00; Brussel sprouts, quart, 20a30; cabbage, basket, 40a60; ' carrots, 100, 2.00a4.00; cauli- flower, crate, 2.25a3.50; celery, crat 2.002350; eggplants, crate, 1.5a3.00: lettuce, crate, 4.00a5.50; onions, 100 pounds, 1.50a1.75; parsnips, baskets, 40 a50; peppers, crate, 8.00a8.50; pump- kins, ‘100, 3.00a10.00; spinach, bushel, 1.00a1.50; squash, crate, 2.00a3.00; to- matoes, crate, 2.50a3.50; turnips, ham- per, 20a30; apples, bushel, 7582.75; cranberries, box, 3.00a4.25; grapefruit, | box, 3.25a4.75; oranges, box, 3.00a4.25; | tangerines, box, 2.00a3.00. Dairy Market. Poultry, alive—Turkeys, pound, 33a35; old and crooked breasts, 25a27; young chickens, 24a28; Leghorns, 22a23; poor and thin fowls, 17a18; old roosters, 18a 20; ducks, 16a25; geese, 16a22; guinea fowls, each, 40a50; pigeons, pair, 25. Eggs—receipts, 602 cases; native and nearby hennery, dozen, 53a54; firsts, 50; pullets, 40a45; current receipts, 43a45; | culls and dirty, 25a30. Butter—Creamery, good to choic®, pound, 41a46; ladles, 35a36; rolls, 31a3: store packed, 21; process butter, 38a3! Live Stock Market. Cattle—Receipts, ply; market steady. to ehoice, 12.00a12.35; medium to good, 11.00a12.00; fair to medium, 10.00a 11.00; plain to fair, 9.00a10.00; common to_plain, 8.00a9.00. choice, none; 8.50; fair to medium, 7.00a7.50; plain to (aif, 6.00a7.00; common to pllln 5.00 Cows—cholce to prime, none; good to cholce, 7.50a8.00; medium to good, 6.50a7.50; fair to medium, 5.50a6.50; plain ' to fair, 4.50a5.50; common to plain, 3.75a4.50. Heifers—Choice to prime, none; good to choice, none; medium to good, 9.00a 10.00; fair to medium, 8.00a9.00; plain to fair, 7.0028.00; common to plain, 6.00a7.00. Fresh cows and Springers, 60.00a 150.00. Sheep and lambs—Receipts 700 head; falr supply; market steady; sheep, 2.00a 6.00; lambs, 6.50a14.00. Hay and Grain Prices. ‘Wheat—No. 2 red Winter, spot, 1.31; No. 2 red Winter, garlicky, spot, 1.28%; December, 1.28%; January, no quota- tions; No. 3, garlicky, no quotations. Corn—No. 2 domestic, yellow, 1.10; cob corn, new, 4.50a4.60. Oats—No. 2 white domesuc spot, 57; No. 3 white domestic, spot, 56. Rye—Nearby, 90a1.00. ‘Hay—Receipts, none. Season for old hay is about over. A little new crop is "arriving, but hardly enough upon which to establish auotations by grades. Where in good order new hay sells at from 14.00 to 17.00 per ton, according to its quality and condition; receipts by trucks taking care of most require- ments, MARKET RESUMES, . FINANCIAL. e s ®¥a 11 GRAIN MARKET. CHICAGO, December 5 (#).—Sharp setbacks in Liverpool quotations, to- gether with a bearish forecast of the Argentine wheat exportable surplus, gave wheat prices here an early down- ward trend today. buying, however, breaks in values. Opening 1-2¢ to 1 %c off, Chicago wheat afterward showed considerable power to rally. Corn, oats and provisions were also easier, with corn starting }jad%c to %c¢ down, and subsequently holding near the initial range. Assertions Irom a British trade au- thority implying that the Argentine new crop exportable surplus of wheat would be about 50,000,000 bushels in excess of the average of recent unofficial esti- | mates did much today to handicap friends of higher prices. The British forecast put the Argentine surplus at 148,000,000 bushels. On the other hand, fresh dispatches today from Buenos Alres said the Argentine surplus ap- peared to be between 73,500,000 bushela and 110,200,000 bushels. NEW YORK COTTON. NEW YORK, December 5 (#).—Cot- ton opened sLendy today at a decline of 2 to 6 points. Relatively steady Liver- pool cables seemed to be without any effect at the start, and the market re- sponded to further liquidation, while a little Southern selling was also reported. ‘The offerings were not heavy, how- ever, and the market, after showing net losses of about 3 to 7 points, held fairly steady at the end of the first half hour. The decline brought in a little trade buying as well as covering. A private crop report was published, placing the indicated yield at 14,951,000 bales, and the ginnings prior to December 1 at 12,950,000 bales. Private cables reported that trade calling had absorbed scattered liquida- tion and hedging in Liverpool, but said that cloth sales were below production and that stocks were accumlating. Radio for Golf Winner. LOS ANGELES, December 5 (#).— Merely_decorative silverware seems to have gone out of date as for use as golf trophies. The winner of the cur- rent P. G. A. tourney is to receive a radio set. METAL MARKET. NEW YORK, December 5 (#).—Cop- per quiet; electrolytic, spot and future, 18. Iron steady; unchanged. Tin easy; spot and nearby, 38.50; future, 39.12. Lead steady; spot, New York, 6.25; East St. Louis, 6.10. Zinc easy; East St. Louils, spot and future, 5.90a6.00. An- timony, 8.50. SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & x‘:;n {00% frer. Allis-Chalmers Co. S5 1937 Aluminum Co. of Amer. Amer. Rolling Mills 55 Armour & Co. of Del Baltimore & Ohio 4 Batayian Fet, Cor Bell Tel, o Canada i et Coro. shas at. Rw: 510307 California Canadian Canadian Ne Ch ard Ol No.;er 5; 19 1830 sy 1 Fle 1881580 st L Sonlhvgenem Ry & 1032 91& 935, te: 671 G058 Viheciine Steel Corp. $1as 1048 100% SRR - TREASURY CERTIFICATES. (Reported by J. & W. Seligman & Co) 2 loag b 1929 93 193 1932. . 1932 3: 1932 9926-32 99 30-32 NEW YORK BANK STOCKS. NEW YORK, December 5— America . 500 head; fair sup- | Lepanch berty Steers—Choice to prime, none; good | Manha Bulls—Choice to prime, none; good to | Public medium to good, 7.50a |Seward Sterling Natio; Straus National il Weshington ehange Yorkville Yesterday’s New York Stock and Bond Averages. (From the 5:30 Edition.) By the Assoclated Press. BTOCKS- = Inds trll‘hlllll.l“lllkl 216.9 rl 7 Tweekly" av 35 7 1566 Largely increased | developed on me‘ |Rainy Weather Fails to Af-; MARINE PRODUCTS SUPPLY ADEQUATE fect Shipments Seriously, Dealers Say. Stormy weather this week affects the catch of fish and oysters in this and other vicinities, but the reduction was not great enough to prevent local deal- ers from obtaining supplies great enough to meet demands for the Fri- day and week end trade. There were plentiful supplies of frozen fish received from Boston pack- ers, which were offered at normal prices. Fresh fish from the Chesapeake Bay and tributaries were anything but plentiful, dealers reported, but receipts ‘were heavy enough to supply demands. “Consumers will be able to get all tne fish they need,” said a dealer, “al- though prices the next day or two may be a trifle higher.” Oyster Receipts. Oyster ‘supplies are not quite as heavy as usual, according to reports of dealers, but supplies this morning were great enough to insure the filling of demands over the week end. Warmer weather this morning en- abled commission merchants to make more ‘attractive displays of their com- moditles, receipts of fruits and vege- tables on the sidewalk not being af- fected by the cold. There were very few dealers on the farmers’ line this morning, however, growers still being unable to gather vegetables, Several shipments of cab- bage were received along the line and offered at 75 cents a bushel basket, and few dealers had small quantities of oth- er lV{Iegtt&l‘lles carried over from last week. Lima beans from Cuba claimed much attention of retailers this morning at $6.50 and $7 a basket, pineapples, also from Cuba, being quoted around $5.50 a crate. Dealers had plentiful supplies of oranges and grapefruit, and they also had plenty apples, grapes, pears and other fruits to offer at prices which have prevailed the past few days. , Florida growers furnished local deal- ers supplies of splendid quality cucum- bers that were supplied the retail trade at $5.50 and $6, green peppers selling at $8.50 and $9. String beans, more plentiful than the other vegetables, sold at $2.50 and $3, broccoli selling at $1.50 and $2 a bushel. Spinach, some from nearby and some shipped in, continued high, selling at $1.75 and $2, while kale and turnips were to be had at $1 a bushel. Business was not especially brisk this morning, dealers reported, and heavy trading is not anticipated until buying for the Christmas holiday season be- gins. Prices today were practically the same as prices quoted yesterday. Today's Wholesale Prices—Jobbers’ Prices Slightly Higher. Butter—One-pound prints, 44'2a45%; tub, 4315a441;; store-packed, 30a32. Eggs—Hennery, 58; fresh selected, 57a58; current receipts, 52a53. Poultry, alive—Turkeys, young hens, 32a33; old toms, 27a28; Spring chick- ens, large, 26a27; medium, 25a26; broil- ers, 30; Leghorns, 22a23; fowls, 25a26; roosters, 20; ducks, 15a20. Dressed— Turkeys, young hens, 38a36; old toms, 32a33; Spring chickens, large, 30a32; medium, 25a30; broilers, 35a36: Leg- horns, 28a30; fowls, 28a30; ducks, 28a 30; roosters, 22; capons, 40a45; Kkeats, 70a80. Meats—Beef, 20a22; veal, 24a26; ;_fresh fresh shoulders, '18a22; smoked hams, 25a26; smoked shoulders, 18a20; bacon, 25a26; lard, in bulk, 13; in_packages, 12. Live Stock—Calves, 15; lamb, 121¢a13. Fruit and Vegetable Review. The daily market report on fruits and vegetables (compiled by the Market News Service Bureau of Agricultural Economics) says: Apples—Supplies moderate; demand light, market steady. Barrels: Virginia, U. 8. No. 1, 2"1 inches up Yorks, 4.50a U. 8. No. 1, 2% inches up, Yorks, 4.50a Twigs, 5.5086. 00; Staymans, U. S. No. 1, 23 inches up, 6,50. Boxes: Washing- ton, extra fancy Delicious, medium to large size, 3.75; extra fancy Staymans, medium to large size, 3.00a3.25. Bushel baskets: Penn.sylvlnh U. 8. No. 1, 23 inches up, Northwestern Oreenlngs, 225; U. S. No. 2, 2% inches up, 1.50; Virginia, U. S. No. 1, 21 inches up, Yorks, 1.50a1.75; U. S. No. 1, 2% inches up, Staymans, fine qun]lty 'and condi- tion, 2.50a2.75; U. S. No. 1, 2% inches up, Yorks, 1.25a1.40. Cabbage—Su| plies moderate; demand moderate, market firm; New York, 100- pound sacks, ) South Carolina, barrel crates nppm 100 pounds net, pointed type, 2.75a3.0 Liz-bushel hampers, pointed ‘type, 1.5 Virginia, Norfolk section, bushel hampers, flat type, 1.25a1.40. Celery—Supplies moderate; demand moderate, market steady; California, crates, 6.00a6.50; New York, 25 crates, 3.25a3.50. Lettuce—Supplies moderate; demand light, market steady. Csl\(omln crates, Iceberg type, 4-5 dozen, 5.0085.50. Onions—Supplies moderate; demand light, market steady. New York and ©Ohio, 100-pound sacks, Yellows, U. S. No. 1, medium to large size, 2.00a2.25; Michigan, 50-pound sacks, Yellows, U. 8. No. 1, medium size, 1.10a1.15. Potatoes—Supplies moderate; demand light, market steady. Maine, 150-pound sacks, Green Mountains, U. 8. No. 1, 4.5024.65; 120-pound sacks, Green Mountains, U. 8. No. 1, 3.65a3.75. String beans—Supplies light; demand light, market steady. Florida, bushel hampers, green, 2.50a3.00. ‘Cucumbers—sSupplies light: demand light, market steady. Florida, bushel hampers, fancy, 5.00; poorer, 4.50. Squash—Supplies light; demand light, market steady. Florida, pepper crates, lll’x‘e size, 3.00a3.50. upplies very light; demand ]lght market steady; Texas, Western lettuce, crates, bunched, 3.25a3.50. ‘Tomatoes—Supplies light; demand light, market firm; California, boxes, ripes and turning, wrapped, best, 4.00a 4.50; ordinary condition, some decayed, low as 2.00. Because of the obligations of the na- tional treasury, Spain has extended the time of completion of its extensive con- struction program from 1936 to 1938. 1920~ Low. Dividend Rate. 9% Syrac Wash M B (1). Taggart Corp.... 'K‘I;‘Dl Electric (32). Teck Hughes (60c).. Texon O1l & Land. . Thermoid Co (2). Third Nat Inv (1)... Thomp Prod A t2.4 Thomp-Starrett. . Thomp Star pf (3%). Todd Shipyard (4). Trans Air Trans cfs. Tr-Lux D.L.P. S.(A). Tri-Cont All Tri-Continental Cos Tri-Cont Corp pf (6) Tri Utllitles. Triplez Safety Glass Trunz Pork Stores. , Tub Art Silk B (10). i Tung-: Sole! ). Ulen & : Un NGC-I!I (" ‘0).. 3% Union Tobacco... United Ch pt pf (l) Unit El Ser United Gas Co. Unit L&P A ( Utd Lt & Po pf (6. UnitedMilk Prod. 5015 617 124%, 21 —Prev. 1920~ 133% 50% 64 18 annual payment o Stock Dividend R Unit Prof Sh (1.20).. Bales— Add 00. Open. m'h l.av 2:85. 8 2% 8 Gypsum (1.60) &InSctf (2% Utility & Ind. Util & Ind pf Util Power&Lt(31)., Vacuum O11 (14%4) Veeder Root (2%)... Venezuela Pet (29¢). Vick Fin Corp. Walgreen Co. % Wenden G Copper. # Yukon Gold.. 13 Zonite Prod (1.60). RIGHTS. 4 1% Newport Co 3% 84 Penna R R. Dividend rates 'in dollars based on last quarterly or semi- Eapire. -dividend. 1Partly extra. tPlus extra in stock. & Payable o cash or stock. b Payable in stock. d Payable in preferred stock. IGREEN ADVISES AGAINST GAMBLING Tells Radlo Audlence “Safety and Sudden Wealth Do Not Go Together.” Strongly advising against speculation or gambling, Wiliam Green, president of the American Federation of Labor, in & radio address last night over the National Broadcasting Co.'s chain, in- formed his audience that there has beea a marked increase in the number of persons who have purchased se- curities. “Before you make an investment satisfy yourself that you are dealing with a strictly reliable firm, one that has established itself in business and one that has a high-cldss record ofor honesty and for the sale of high-grade in: ments,” Mr. Green urged. “I would advise against speculation or gambling. Think first of the safety of your investment. Be eonvinced and certain that you are reaily investing. In choosing a really safe investment take into_account its earnings and its safety. Safety and sudden wealth do not go together.” ‘The labor leader said that the figures for securities “indicate that not only have the workers crefited great wealth through labor and service, but in addi- tion they have supplied industry with a part of their earnings, and in that way the capital requirements of indus- try have been more adequately met.” Pointing out that most owners of in- dustry ha come to understand that “the progress and prosperity of Ameri- can business, to a very large extent, depends upon the payment of high wages to their employes and the enjoy- ment of increasing lelsure by working people,” Mr. Green asserted that “the great masses of the people must be able to use and enjoy as well as buy the things which industry produces.” A realization of “the very vital re- lationship of high wages and work se- curity to national prosperity and com- munity well being,” Mr, Green said, prompted President Hoover to summon all factors to his now famous con- ferences. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gold S(-lhn:ucnetn oday. 03071 1400 London, pound peseta Venna, schilling Washington’s Own GOOD ENVELOPES ARE JUST GOOD BUSINESS AND IT’S JUST GOOD BUSINESS TO LET THIS LOCAL FAC- TORY ASSIST YOU IN YOUR ENVELOPE PROB- LEMS. FOR QUALITY and SERVICE FACTOR' SALES QFFICE ROSSLYN, VA. 2146 Pa. Ave. N.W, PHONE WEST 0380 FOR QUOTATIONS Every Facility for Sound Investing Members: New York Stock Exchange New York Curb (Associate) Baltimore Stock Exchange Richmond Stock Exchange J-A-M.Tglehart & Co. Investment Banhers 719 15th St., N. W. Washington BALTIMORE WILKES-BARRE. CLARKSBURG RICHMOND Oldest National Bank in the District of Colum It’s Traditional —at The Metropolitan that the customer in good standing is always “taken care of,” be the times good or bad. {[There’s decided advan- tage in being associated with a bank of such reputation. Holiday Cash Transmitted by Cable Anywhere 3% on Savings National Metropolitan 115 Bank 115 Years Years o O1d +15th St. opp. U. S. Treasury