Evening Star Newspaper, December 7, 1929, Page 22

22 % POTONA SHVINGS PLANSSTOK SPLT Directors Recommend Issue | of Seven Shares for One. Vote December 10. BY EDWARD C. STONE. ‘The board of directors of the Potomac Savings Bank, in Georgetown, has recommended the declaration of a 40 per cent stock dividend, to be voted upon by the stockholders at the annual meeting on December 10 in Alexandria. ‘The board also proposes changing the par value of the.stock from $100 per share to $20 per share. Potomac Sav- ings Bank stock is now selling on the Washington Stock Exchange around $350 share. Mfigml the par value to $20 per share and issuing the 30 per cent stock dividend will give each stockholder five shares of the new capital stock in exchange for each one of the old, and in addition, the stock dividend of two shares of the new capital stock, making a total of seven shares of the new stock lxfi!ocyklnce of each one share of the old ve the savings stock. ‘The proj 1 will bank a uprtous.smck of $140,000, surplus of $100,000 and undivided profits of be- tween 340,000 and $50,000, all earned. Steady growth in the bank's business has made the proposed stock dividend advisable at this time, according to the officials. Past earnings and future prospects are held to more than war- rant this action. Another_reason for the move, Vice Prezident B. Agee Bowles sald today, is to bring the stock within reach of more people in Georgetown and surrounding counties in Virginia and Maryland. At present it requires about $3,500 for the purchase of ten shares. The price pre- vents many people from buying any ‘worthwhile amount. The directors feel that the reduction in the price will | bflni the stock within the means of small business men and individuals who have not previously held it. H The directors have declared the reg- ular semi-annual dividend of 5 per cent. The annual meeting takes place in Alexandria because the bank operates under a Virginia charter. The stock- holders meet Tuesday and the election of officers takes place the next day. :!.e:{y W. Offutt is president of the First Christmas Bonus Voted. ‘The board of directors of the Com- mercial National Bank at its regular meeting yesterday declared tht regular uarterly dividend of 2 per cent on capital stock of the bank, pavabie January 1, 1930; also an extra Christ- mas dividend of 1 per cent payable December 18, 1929, and in addition voted a bonus of 6 per cent on their annual salary to all officers and em- oyes. So far as reported, this is the first Christmas bonus voted by any of the local banking institutions. Last year were many. While business is quiet right now, yet it has been a splendid year and no doubt many other Wasl n banks will take similar action in the near future. Employes in the local broker offices :-.“:d“‘ hoping to land on a similar wagon. At the regular meeting of the boara of directors of the Bank of Commerce & Sa yesterday the regular sem- annual dividend of 5 per cent was de- clared, payable January 2, 1930, w stockholders of record December 20. Peoples Drug Sales Jump. Somebody evidently had advanced in- formation on the November report of Peorlu Drug Stores, Incorporated, yes- ay, when the stock jumped more than 5 points on the local exchange. The report, out today, shows that to- Ne 8. crease of $401,675, or 40.1 per cent. Sales for the first 11 months total $13,825,231, against ?9.2!2.1“ liin . correspon period last year. Here & gain in sales of $3833,164, or 383 per cent. With one month more to go, and that a holiday trade month, Peo- ples Drug is hanging up a record highly Ppleasing to the stockholders. Gleaned in Financial District. ‘Thomas H. B. McKnight, for 53 years treasurer of the Pennsylvania Railroad, has recently retired and is making his home in Wi n. He is a director in the Monongahela National Bank and the Pittsburgh People's Trust Co., both of Pittsl Before he left Pittsburgh the Pennsylvania Railroad placed a full- length picture of him in the railroad station there and with the high points in his long career. b G. K. Sams, long engaged in the wholesale and retail drug business throughout the South, has joined the North American Dye Corporation, Mount Vernon, N. Y., and will make his future home in Washington. The annual card party and dance of the R Bank Club will be held in the Hotel this evening when over 200 members of the club and their friends will be present. The bank’s officers will be guests. Arrangements in charge of & committee com- of Constance Fogle and Donald rmack. Information has been received from ‘Winston-Salem, N. C., to the effect that the R. J. Reynolds Tobacco Co. had declared a quarterly dividend of 75 cents on common and common B stocks, placing both issues on a $3 basis, as compared with the previous one of $2.40. ‘The Federal Reserve Board announces that the San Prancisco bank has re- duced the rediscount rate from 5 to 42 per cent. 1. J. Roberts, assistant cashier of the Riggs National Bank, addressed the lo- cal chapter of the American Institute of Themists ate the Cosmos Club last night on “The Relation of Chemistry to Banking. Judge Joseph Thompson addressed the cl in commercial law at.the American Institute of Banking one eve- ni this week. He is the author of several books. By the Associated Press. Sales last month of the Schulte- TUnited 5 Cents to §1.00 Stores, Inc., to- taled $2,786,833, increase of 25 per cent g;’erg tg:e previous month's sales of $2,- 7,973. Construction of a $2,000,000 theater in Cincinnati is reported planned by the Balaban & Katz Corporation, theatrical organization which heretofore has con- fined its activities to cities around Chi- cago and farther West. The common stock of the Allis-Chal- mers Manufacturing Co. of Milwaukee was placed on a $3 annual dividend basis today with the declaration of a uarterly payment of 75 cents a share. %revlnusly the stock paid $2 annually. The increased dividend is payable Feb- ruary 15 to stock of record January 4 Last September the old common stock, which paid $7 annually, was split four shares for one. ‘The November production of steel ingots by United States producers, as estimated by the American Iron & Steel Institute, totaled 3,513,025 tons, the lowest figure for any month so far this year. o Roads Avoiding Cities Urged. OKLAHOMA CITY (). — Arterial highways of the future, says A. R. Losh, Oklahoma State engineer, should be built for through trafic only and FINANCIAL, TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE —1929 High. Low. 36% ADItibi Power & Pap 69 ADItIBI P& P pf(8). Advance Rumley pt 77 Alr Reductn (14%).. 20% Alr Wal E1 Ap(2%). 2 Ajax Rul 4% Alaska 17 _ Alleghany Corp. 80 ~ Alleg Corp pt (6%).. 197 Allied Ch & Dye (c6) 35% Allis-Chalmers (3).. 18 Am Agricul Ch pt. 65 Am Bank Note(f13), 27 Am Bosch Magneto. . 40% Am Brake Snoe 2.40. 4% Am Brown Bov Elec. 86 AmerCan (15). 1334 Am Canpt (7). 75 Am Car & ¥dy (8) Am Chicle (12%).... 20 Am Com Alco(c1.60) 18% Am Encaust Til (3).. 23 Am European Sec. 50 Am & For Power.... 101% Am&Forn Pwr pf(7) 19% Am Hawailan S S (2) 23% Am Hide & Lea pt. 29 American Ice (3). 86 Am Ice pf (6) 29% Am Internat (3: 72% Am P&L pf A st (5).. 28 Am Ra&Std San1% 12% Am Republics.... 60 Am Roll Mill (¢2) 44 Am Safety Razor (. Am Sm & Ref (4) Am Snuff Co (13% 35% Am Steel Fdy (3) 40 Am Stores (12%) 56 Am Sugar Rfg (5. 60 18 Am Sumatra (3. 310% 193% Am Tel & Tel 23215 160 Am Tobacco ( 236 acco B (11 199 Am Water Wks (¢l). 58% 15% Am Woolen pf.. B 298% 195% Atch T&SFe (10).. 209% 161 Atl Coast Line (110). 86% 824 AtlG& W Indles. 77% 30 Atl Refining (13). 140 67 Atlas Powder (15)... 514 120 Auburn Auto (36)... 42% 18 Austin Nichols pf. 35 7% AULOSAIES.....ceeee 50 34 Auto-Strop Ras (3).. 6€6% 15 Baldwin Loco (1.75). 1454 105 Baitimore & Ohio (1) 80% 75 Balto& OBlo pf (4).. Bang & Aroos (33%).. Beechnut Pkg (c3).. 31 73% Beatrice Cream (¢).. 106% 100 B'trice Cream pf (7). 17% 5% Belding-Heminway.. 104% 25 Bendix Aviation (2). 60% 25 Best& Company.. 128 116% Bethlehem St pf (7). 18 87 Bohn Alumn&B (16). 89% 70 Bon Ami, A (16) 11% 3% Booth Fisheries.. 100% 53 Borden & Co (3) 26 Borg Warner (4). Briggs&Stratton(2). 8% Briggs MIg........o 1% British Empire Steel 3% British Em Stl 2d pt. 14 Brockway M T (3)... 40 Bklyn-Manhat 7 Brooklyn & Qu 99 Bklyn Union Gas (5) 16% Bruns-Balk-Col(3).. 4% BrunsTer & Ry 8. 14 Bucyrus Erie (1).... 26% Bucyrusev pf (3%).. 63 31% Bush Term (g32).... 2 Butte Cop &2 (50c). 19% Butterick Co. 4T 84% 4 136% 633% Calif Packing (6)... 1 Callaban Zine & L... 78% Calumet & Aris (10). 61% 25 Calumet& Hec (4%) 48% 20 Campbell Wyant (3). 98% 45 CanadaDryGaA 5). 2657 189% Canadian Pac110).. 4B8% 28% Cannon Mills (3.80).. 65% 17 Capital Adm (A). 467 130 Case (JI) (8) 122% 113 Case Th Mch pt (7). 60 56 Caterpillar Trac (3). 8% Cavanagh-Dobbs.... 21 CentAguirreAsil. 27% Cent Alloy Steel (2), Pasco (6 42% Chesapeake Corp (3) Chi & Alton. Chi Great Wi D, 17% Chi Great Weatn pt. 16 Chi Mil St PAPac... 15 Chicago & N W (5).. 21% Chl Pneu Tool.....en 61% 47 ChiPoeuTpf(3%). 143% 101 ChiR1& Pse (7).. 103% 94% ChiR1& Pacpf (8). 109 100 ChiRI1& Pacpt (7). 75% 44% Ch11ds Co (2.40)..... 135 26 Chrysler Corp (3)... 27 7% City Stores (1) 72% 854 Cluett Peabody 86% Colo & South (3). Col &El Q). 99% ColGas& El pf A 424 Col Gas&E rcta pt) 16% Columb Graph (87¢. 16% Consol Film pt 8014 Consol Gas. NY (4 92 Consol Gas pf (§ 1 Consol Textil 25% Contl Baking 4% Contl Baking B. 794 Contl Baking pf (8). 38 Contl Bank (1.20). 40% ContiCan «2%)..... 20% Contl Dia Fiber (2% 464 Conul Insurance (3). 6% Contl Motors (80¢).. 18 Contl Ofi of Del. 70 Corn Prod Refin (14) 204 Coty 100 (£2)....... 24 Cream of Wheat (2). 17 Crossley Radio (31). 374 Crown Cork & Seal. . 17 Crown Zellerbach (1) Crucible Steel (5)... % Cuba Cane Sugar. Cuba Co. .o 100 Curtis Publish (17).. 112% Curtis Publish pf(7) 7% Curtiss Wright Corp 14 Curt Wright Corp A. 63 Cuyamel Fruit. . 21% Davison Chem 28% Debenhams (a2.31).. 141% Delaware & Hud (9). 120% Del Lack & W (17).. should avoid all cities. A monument to commemorate the death of Bolivar, the national hero, is to be erected by the Venezuelan gov- cpment on the hettlefield at Carabobo. 151 Detroit Ediscn (8).. 24 Devne & Ray A (13). 6 Dome Mines (1).... 544 12 Dominion Stra(1.30) 126% 69 92 25 28% 10 A 28% Chi M1l 8t P&Pac pf. 1 1 1 3 Sales— Prev, Dividend Rate. Add 00. High. l::n'. Closs. Close. 40 80 80 641 644 138 264 25% 24 6% 28Y% 27% 98% 98% 285 279 59% 574 21% 21% 8 T 334 83 108t 107 35% 34% 49 48% 12% 12 124% 122% 141% 141% 9 1014 97% 1 107% 107% 22% 224 44 434 109% 109% 117 ¢ 11y 229 229% 49% 48y 2 2 92 88y 101% 101% 81 81 1 24 24 233% 281% 10 w 35, 14 1 20 5% Aviation Corp. Del.. 242 47 19 1 18 1 3 26 2 18 62 .o 14 140% 784 Bethlehem Steel (§). 349 23 16 20 1 214 208 214% 208 106% 104% 23 31% 30% 1184 117% € 80, 3% 27% 27 114 THE. EVENING STAR, WASHINGTON, D. C, SATURDAY, DECEMBER 7, 1%29. 40 40 20 80 64% 64y S1% 29 26 2% % 284 98% 283% 5% 21% ™ 33 108 35% 48% 12% 124% 141% 68% 199% 199% 2% 3l 23% 29 219 218 1234 120 60% 9 15 116% 116% Bl 8 18% 18% 107 107 32% 33% 24% 175 147 206 24% 176 147% 209% 38% T% 26% 88 36% » ~Prev. 1920~ High. 1 119% 391 264% 6% 39% 81% 112 891 91% 126% 98 154% 2554 110 24 3% 44 Stock and Bales— Low. Dividend Rate. . 80 Dupont de N (15.20). 174 122% 107% Dupont d N deb (8) 1 116! 19 Estn Roll Mill(ht2) 150 Eastman Kodak(18. 18 Eaton Axle&S8 (3 10% Eitingon-Sch (2%) 65% Eitingon pf (6% ). 2% Em 31 Eng Pub Serv ( RR. 55% ErtfeRR of (4) 31% Equitable Bldr(3%). 15 Evans Auto L(32%). 3% Fairbanks Co, 25% Fash Pk Al 5 Fed Motor Tr (80c 28 Fed Watr Ser A 3. 47% Fid Phen F Ins ¢ 35% Firestone T & R. 87 Firestone T&R pf 4414 First Nat Strs (2%). 314 Fisk Rubber.... 24 Gen Bronze (3) 23 GenCable..... 65% Gen Cable A (4 168% Gen Electric (16) 11 Gen Elec spec (60 35 Gen'l Food Corpn (3) 59% Gen Gas&El A (te2). 50 Gen Mills (13%).... 331 Gen Motors (13.60).. 112 Gen Motors pf (7)... 20 Gen Public Serv(b§) 70 Gen Ry Signal (6)... 50 Gen Refrac (t4%). 80 Glllette Saf Raz(c5). 10% Gimbel Brothers 71 Gimbel Bros of (1) 26 Glidden Co (h2). 9% Gobel (Adolf). 81% Gold Dust (23%). 42 Goodrich BF (4) 98% Goodrich pf (T)...e0 60 Goodyear Tire (5)... 87 Goodyear 1st pf (7).. 14 Gotham Silk H (2%) 7% Graham-Paig 7 Graham-Paige ct 46% Granby Copper (8) 39 Grand Silver Stores.. 39 Grand Stores (e1). 9% Grand Union.... 30 Grand Union pf (3).. 82 Granite City Stl (4). Grant (W T) (el). o e ol wnoRennSaaRmmnn Grt West Sug (2.80). 14% Grigsby Grunow (2). 1 Guantanamo Sugar.. 18 Gulf Mo & North 42 Gulf Sta Steel (4). 12 Haha Dept Stores... 74% Hahn Dept § pf(8%) 21% HartmanA(2)...... 18 Hartman B (1.30). 5% Hayes Body b8% stk 15 Hoe (R) &Co....... 18 Houdaille Her B(2).. 26 Houston Ofl......... 34% Howe Sound (t434). 34% Hud&Man Ry (3.50). 38 Hudson Motor (5). 18 Hupp Motor (f3) 116 Illinols Central (7).. 120 Illinois Cent pf (6).. 17% Independ O1l & G (3) 315 I[ndian Motor Cycle. 184 Indian Refining. 11% Indian Refining et. 72% Inland Steel (3%). 120 Ingersoll-Rand 17%. 22 Inspiration (4)...... 14 Insuranshares.... 15 Interboro Rap Tran. 2 Intercontinental Rub 109 Intl Bus Mch (6) 4 Intl Agricultural 40 Intl Agri pr of (7). 80 Inti Cmb Eng pf (7).. 65 1ntl Harvester (3%). 137 Intl Harvpf (7). 23 Int Hydro E1A 47 Intl Mateh pf (3.20). 18% Int Mer Marine etfs.. 26 Int Nickel of Can(1). Intl Nick Can pf (7). Intl Pap & P A(2.40) Intl Paper pf (7) Intl Pap & Pwr C. Intl Pap & Pwr pf(7) - - Dep 12% Investors Equity(3). 39 Island Creek Coal(4) 89 Jewel Tea (4)... 90 Johns-Manville (3).. 1% Jordan Motor Car..e 60 Kan City Sou (6).... 63 Kan City Sou pf (4)e 18 Kaufmann DB (1%) 30 Kavser Jullus (4), 3% Kelly-Spring Tir: 18% Kelsey Hayes (2). 5 Kelvinator Corp. 49% Kennecott (5). 28 Kresge(S8)Co(1.60) 22% Kreuger& Toll(1.34). 88% Kroger Gr&Bak(el). 80% Lambert Co (3). Liggett & My B ( Liggett & My pf (7)., Lima Locomotive. ... Lig Carbonic (t4%4). Loew's, Ino (13%) 14% Lorillard (P) Co. 7 Loufsiana Ofl... - 28 LouG&ElA (1%).. 110 Louts & Nash (T).... 76 Ludium 8t) of (63). 39% McCall Corp (4) . 92% McCrory pt (6 124 McIntype Pore M(1) 54 McKeesp? TP t4%.. 214 McKesson & Rob (3) 21 McLellan Strs A 2.20 55% Mack Trucks (8).... Macy (RH)&Co(e18) 11% Madison 8a G (1%).. 85 Magma Copper (§) zg Mallinson & Co. Man Elev mod (d5). 7% Maracaiho O1] Exp 30 Marlin Rock (13%).. 19 Marmon Motor (4).. 24 Martin-Parry....... 29 Mathieson Alk (e3).. 46 May Dept Stors(e2) Michigan Si 2244 M1d-Contin Midland St pf(113). 3'4 Miller Rubber...... Minne&Hon Reg(t4) Minn Moline Pwi an & Texas.... 93% Mo Kan & Tex pf(7). 46 Missour Pacific..... 105 Missourt Pac pf (5). 85 Mohawk C Mills (3). 47 MonsantoCh (g1%). 1 49% Montgomry Ward(3) 1024 1% Mother Lode (40c).. 4 34 Motor M GaB 36 Motor Products t1 Motor Wheel ¢ Munsingwear ) 14% Murraay Corp (k3).. 30 Myer(FE)& Bre (3). 40 Nash Motors (§).... 2 Natl Radiator. 1 Natl Rys Mex 24 98% Natl Supply (17). Prev. Ad3 00. High. Low Close Close. Stock sna Eales— Dividend Rate. Add NYNH&HDf (7 Norfolk South (2%). North Am(b10% stk) North Am pf (3) Northern Pac (5). North Pacet (5)....: Norwalk Tire & Rb.. Of1 Well Supply. Otis Elevator (18) Otis Steel (23). Owens I11 Bottle(c4) Pacific Gas & E (3).. L Park & Tilford (33 Park Utah Parmelee Pathe Exc! Pathe Excl Patino Mines ( Penick & Ford ( Penney (J C). Penn Dixie C Pennsylvai Phila & Read C Philip Morris (1). 4 Phillips Petrlm (c2). 28 Plerce-Arrow A..... 2 Plerce Ofl.......c00 Plerce Petroleum. ... « Pillsbury F1 (13%). Pirelli Co A (2.88) Pittsburgh Coal pt. Poor & Co (B) (2)... P Rican Am To (A)? P Rican Am To (B).. Prairie 0&G (12%).. Prairfe Pipe L (15).. Pressed Steel Car. .., Preased St1 C pf (7). Proc & Gamble (2)... 27 4 oo nmaon - Pullman Corp (4).... Punta Alegre Sugar. Pure O1] (1%) Purity Baker! Radlo Corp. Radio pf A (3%). Rad1iopf B (6)...0.0 8 Radio-Kelth-Orph A. 270 Rallway & Exp (2).. 2L Raybestos-Man(2%) 21 Real Siik (8).....00. B Rem Rand (50c).... Reming-Rnd 1st (7). Reo Motor (11.40)... Repub Ir & Steel(4).. Rep Ir & Stl of (7)..: Reynolds Tob B (3). Richfleld O1l (2)....0 Rio Grande Ofl (k2). Rosata Ins (330).... Royal Duteb (a3.20). Safeway Stores (5).. St Josepb Lead (11). St L-San Fran (3)... St L-San Fran pf (§) 8t L Southwestern. . Savage Arms (2).... Schulte Retail Stra.. Seaboard Air Line Seaboard Air Line pf Seagrave (e1.20).... Sears Roebck (33%). Second Natl Inv ctfs. Servel Ino. . Sharon Steel H (3).. Sharp & Dohme. - Sharp & Do pf (3%). Shattuck (F3) (1).. Shell Union (1.40) Stmmons Co (g3)... Stmms Pet (1.60). Sinclair Con Oll (2) Stnclair Ofl pf (8)... Skelly Oi1 (2). Sloss Sheffield steel., Solvay Am In pf 63 8o Porto R Sug 13%. Southern Cal E4 (2). Southern Dairies A.. Southern Dairies B Southern Pacific (6). Southern Rwy (8) Southern Ry pf(5' SouRyM&Oct (4). Spalding (AG) (3)... Spang-Chalfant, . Sparks Withngtn(1). Spencer Kelg(1.80).. Splcer Mfg. - Splegel-May-St (3).. 1 Stand Brands (1%). 1064 Stand Com Tob (1).. 3 LY ST T TSI - TSP - Stand OIIN Y ( Sterling Seo A) BY CLINTON COFFIN, Assoclated Press Financial Writer. Movements intended to bring the rapidly growing interstate bus passen- ger traffic on highways under a system of public control similar to that now affecting most other meaps of trans- port are likely to culminate in the pres- ent session "of Congress. Chairman Parker of the House interstate com- merce committee is bringing forward the first definite bill bea: on the subject and has reason to feel that ac- tion upon it is likely to be fairly early and favorable. “It is a fact that the interstate bus business, important though it is, now is conducted without any other regulation than that which is presented by the highway and street traffic police super- 00. High. 22 85 Stock and w Dividend R: 81 Sterling Sec p! 81 Sterling Sec cv pf(3) 30 Stewart Warn(J3%). 64 Stone & Webster (2). 16% Thatcher Mfg (40c). 35 Thatcher pf (3.60).. 6% Third Avenue .. 10 Tide Water Asso.... 98 11% Timkn Det Axle t80c 13 1 Tobacco Products 218 1% Tobacco Prod ctfs. 11 6% Tobacco Froducts A. 10 3 TobProddvetfsB.. 1 304 Truscon Stl (f1.20).. 2 27 TwinCityRpT(4).. 1 82 Und Elliod Fishr (§) 7 Union Bag & Paj 59 Union Carbide( Utd Afrcraft&Trans, 44% Utd Alreraft&T pf 3. 33% Utd Biscuit (1.60. 40% Utd Carbon (2 4% Utd Cigar Sto! 1 Utd Cgar Stor 4 27% United Cigar Strs pf. 1 19 Utd Corporation.... 811 42% Utd Corppf (3)..0es 21 10% United Elec Coal. 2 99 Utd Fruit (ed). 28 22 UtdGas&Imp (1).. 368 90% Utd Gas & Im pt(§).. 17% U S & Foreign Secur. 37 864 USFreight (3)...... 54 184 U S Hoffman (2).... 4 U 8 Ind Alco (6). 5 US Leather... 16 US Leather A (4) 156 U S Pipe 1st pf (1.20) 48 USS 187 U S Steel pi 25% Univ Leaf Tob (3)... 3 Univ Pipe & Rad..... 3 Vadsco Sales. - 37% Vanadium (14 . Vick Chemical(2% ). 3% Virginia-Car Chem.. 15 Virginia-Car 6% pt. 40 Wabash.. 77% Wabash pf B. 20 Waldort Sy ) 100 Walgreen pt (6%).. 22 Walworth Co (2) 1% Ward Baking B. 60 Ward Baking ! 3 30 Warner Bros Pic (4). 280 25% Warn Br P p£(3.20).. 3 = - RO ® mooaN 116 Warren Bros (19)... 11 15% Warren Fy&Pipe(2). Swjes— Add 00. 0. 7 X 30 ThompsonJ R (3.60 6 744 Tide Wat Assopf(8) & 531 Timken Roller (3)... 114 5% Transcontinental Oil 54 2 12 UBSPIipe & Fdry (2). 18 2 24% Ul Pwr& Lt A (e2) 15 16 Warner-Quinian (3). 7 High. 2% PINANCIAL. STOCKS GO HIGHER IN ACTIVE MARKE! Steel and Utility Issues Con. tinue Gains—Motor Is- sues Are Active. BY GEORGE T. HUGHES. Spectal Dispatch to The Star. NEW YORK, December 7.—In th{ first Saturday session in six weeks, tha stock market forged ahead in buoyant fashion, making new highs on the re- covery under increased volume. United States Steel was the leader today, just as General Electric had set the pace on Friday. It was argued that if the latter could split its stock, Steel could do the same and that such a move was highly probable. In any case earnings warranted a higher price, or at least that was the view of the market today. Steel opened 2 points higher and galned steadily as the day went on until above 179 it was up almost 8 points net. This display of confidence stimulated the entire list, and gains were recorded all along the line. The utilities were not so gmmmem. as they had been earlier in the week, but they did add to their gains and International Telephone & Telegraph soared some 7 points. Western Union joined in a little later on and, gaining a point and more be- tween sales, ran up rapidly 15 points and more. The old story about a split- up in this stock was revived, either that or an extra dividend, but the chances are that it was the market which re- vived the story and not the story that affected the market. In m’;fmm list United States In- dustrial Alcohol was a strong specialty, Radio extended its advance, Air Reduc- tion, American Can, Allied Chemical and J. I. Case moved up and there was buy* ing of lower-priced issues such a: Standard Brands, Radio-Keith and Commercial Solvents. A new development was the display of interest in the motors. There were no large gains, but the stocks acted in a way to create increasing uneasines: among the large short interest known to exist in this group. Another unfortunate situation for the shorts developed in Fox Films on the news of the trusteeship of the Wil- liam Fox interest in his various amuse- ment enterprises. Fox Film has been sold heavily in the week, and it rallied sharply today as operators for the de- cline took their profits. Some of the copflen were moderately higher, and the oils were steady. Rail- road stocks were not very active, the lower issues winning the greater sup- port. There was no important business news nor cid the market seem to be re- flecting trade developments. Rather it was a regaining of confidence based on the absence of liquidation. At the same time competent observers were of the opinion that the pace of the recov- ery had been rapid enough to under- mine, partially at least, the technical position. 274 White 12% Wilcox 624 Woolworth (.49) 43 Worthington Pump. 656 Wrigley Wm (4)... 7% Yellow 1 33% Young Spring (3)... 91 *Young Sheet& T (5) 10% Zenith Radio (2).... RIGHTS EXPIRE & Allis-Chal, n.Dec. 31 % Am Rolig M..Feb 15 9 10% Det Edison. .. Dec. 28 13 6% N Y Central..Jan31 98 Penna R R...Jan— 107 % Reynolds Spr.Jan24 1 - % Utd Gas Im..Dec 311029 Dividend rates as ents bases It o train ook, $Pluy tra do organization in the interests of postal personnel. “It's been & good many years since we undertook to improve postal service by more contentment for its workers,” said, “but the movement still seems to be on. Just before coming to Wash! n I got two let- ters in one day tmen why thought there was some I might get done about their service arrange- ments.” in’the departmint makes him mopefos in e dej makes 10] that it will never cease to be p“e“d by Congress and administration as au instrumentality to encourage new de- partures in methods of transport, such as l!u' service and increased ocean mail service. “The postal serviee ought to remain ;a%ubuc utility, somewhat regardless of cit,” he said, “and not too exclusively to profit and loss stan vision,” Chairman Parker sald of the|ards. situation which he is approaching. +That is manifestly not likely to be tolerated long, and my communication | V! now with bus operators, bus users and with manufacturers of equipment gives me the opinion that measures of public control designed to insure effective serv- ice at reasonable rates will be rather generally favored. “The general proposal we have in mind is to require persons lntendmlhm undertake or maintain interstate bus céperntlom to lprly to the Interstate ‘ommerce Commission for a-certificate that the service contemplated would be convenient and necessary to the public. On receiving this lp&!cll!ofl. it would become the duty of the commission to assemble representatives of the State regulating commissions of each com- monwealth through which the intended line would g_nhss and to conduct a joint hearing. ereafter the certificate would be awarded by a vote of the State representatives, subject to the right uw eal to the Federal commis- | t; t] sion. out such a certificate, if the bill passes, no interstate bus line could lawfully operate. “By this ?medure, intermittent and over-competitive operation on interstate routes could be prevented, and regular and effective service requirements en- forced. My personal opinion is that bus transport will more and more become an adjunct to steam rail service as the managements of railroads work out methods of substituting it for the un- rofitable short-haul trains they now ave to operate in many territories. However, this system of co-operative State and Federal regulation of the business would apply regardless of where ownership and responsibility for the increasing highway passenger traffic may rest, and I think the country is ready for it.” Will H. Hays, who ault being Post- master General several years Iffl to become dictator of the moving picture world, - finds that his former official status isn't forgotten by the rank and ' " file of the Government workers in that confesses to some pleasure | &to branch, and vel?faed in the United States by the mall service its practical business aa- itage has been proven to compen- for the cost. ‘e think s0 in the moving picture fleld, certainly, and 1t is & fact that part of the time moving picture fllms and correspondence now is furnishing half the b of the coast- to-coast airmail.” ‘Though membership of the Interstate Commerce Commission is keeping very silent on the subject, gossip in railroad circles insistently connects itself with alleged precise details of how that body intends to shape plans for rafiroad con- solidation. Some almost startling re- arrangements of railroad alliances and reconstruction of existing trafic routes are sketched in the discussions. 1t is sald now that some members of the commission favor rather extensive end-to-end linkage of railroads across what have been territorial dividing lines since rail operation began in this coun- Ty. an instance, the stories are that the commission plan will recom- mend that the Chicago & Northwestern system, now based n ward from Chicago, be attached to the Chicago & Eastern Illinois, and linked also with the Mobile & Ohio, the lat- ter a part of the Southern system. An- other mating suggested is that of the Seaboard Air Line with the Norfolk & Western, which system is affiliated now with the Pennsylvania, and the attach- mu'\: of the two to an Eastern trunk route. These two stories—neither of which have any confirmation—both tend to Mt' :ha :omtmluien with ’1.::'3%0. princinle of setting up comple = vation in American 2 ap nization. rail mo?ud indaries of railroad dllfi‘\‘zl{l ‘would be quite com- f.lmlfl set aside. Likewise several e: bl ownerships would have transter, and it is the uent com- ment of informed people that rather little consolidation would result. How- ever, & commission the rail facilities of the United States 4 Webster-kisenlobr. . 20 Wess Oll & Snow(3). Wextark Radio (o3). White Eagle O1l (2).. White Bewing Mach. Wilcox Rich(A)2% .. 12% Wilcox Rich B (c3).. 64 Willys-Over (c1.20). 142 lan for putting all | com) otors (2)..e O1l & Gas. 8 Truck & C. in the above table are the e Iatest quarterly or nalf-yeariy less than 100 shares. 33 1n oreferred siock, ] bie in rmed, | e Payable in ‘:aiueeli"'n‘m;? WGk o Bius 3% 16 ekoed. P required by law, and the commissioners are known to be intent on making such A _plan whether anything comes of it afterward or not. By the test of American bathtub ex- E‘rm the Chinese are seeking to become e cleanest personally of all foreign les. More than one-quarter of the bathtubs shipped out of the United States last month, or 461, went directly to China, and they were reasonably ex- nsive affairs at that. Since the cus- ms valuation was about $30 apiece on the shipments. Mexico, with 241 tubs credited to it tomer, while 171 more went to the Ar- gentine, and 168 to Canada. Great Britain, in spite of alleged popularity of bathing among its upper classes, took only 35 American tubs in the month. It was noticeable, though, that the tubs shipped to England had an average value of $80 each, or more than twice the valuation put on the averags Ameri- can tub exported during the period. DUN'S REVIEW. NEW YORK, December 7 (#).—Dun's Review says: It is significant, as the year draws| nearer its closing, that tangible reasons | for added encouragement and for a fur- ther strengthening of confidence have appeared. Less than a month after the culmination of the stock market col- lapse sentiment has undergone a dis- tinct improvement, which could scarce- ly have come so quickly without the impressive demonstration of the under- lying solidity of the commercial struc- ture. The adjustments to new condi- tions, the recession from an unusually high scale of activity are present now in varied form, but the supporting ele- ments continue to have a nfnbmm in- fluence supplementing the inherent soundness of trade, which has been evi- denced by the absence of disorder. Other factors, including definite action on Federal income tax reduction, have con- tributed to the constructive and reas- suring forces. The weather, moreover, has been helpful recently, low tempera- tures over a wide area 1lv1n; impetus to demand for seasonable goods, and Christmas purchases have been gaining momentum. Responding to the larger retall movement, mercantile opinion for the month, was the next best cus- | Markets at a Glance NEW YORK, December T (#).— U. S. Steel rises nearly 12 points. Bond: mixed; International Telephone & T:l- egraph convertible 4158 advance ¢ points. Curb strong; Aluminum Co soars 11 points. Forsign exchange: steady; Spanish peseta weak. Cotton lower; Southern selling. Sugar steady; trmxe1 support. Coffee easy; Brazilian &el 8. I Business Notes NEW YORK, December 7.—The Ohic Oll Co. will furnish natural ga. as fusl for operation of the American Smelt- ing & Refining Co.’s smelter at Mur- ray, Utah. The Central Rallroad of New Jerser and the Reading Co. on Monday wil! jointly inaugurate a bus service from New York City and New Jersey pointe to various Eastern Pennsylvania cities. Bradstreet's reports that retait trade seems to be somewhat better than a year | ago, whereas wholesale and jobbing dis- ution and industry seems to be cor- % respondingly below last year's level. The total sugar melt of 15 United States refineries from January 1 to No- vember 30 totaled 4,555,000 long tons, compared with 4,320,000 in the same period last year, James D. Mooney, president of Gen eral Motors Export Co., safling for Europe, says that the outlook for auto- motive export business for 1930 con- tains continued signs of good health, BUILDING ACTIVITY. By the Associated Press. Building activity took a marked spurt in Eastern territory during the guc week of November. Census Bureau figures for the week and comparable periods, which represent the average rate at which new contracts were let in the area east of the Rocky Moun- tains, are as follows: Week ending November 30, $21,466,000. Preceding week, $12,717,000. Same week last year, $27,495,000. o NEW FORD PLANT. NEW YORK, December 7 (#).—The Ford Motor Car Co. has awarded a con- tract to the Turner Construction Co. for the erection of an assembly plant for export business at Edgewater, N. J., to cost about $3,000,000. The plant is to replace one at Kearney, which has been sold to the Western Electrie Co. Alimony 45 Years in Arrears. CORTLAND, N. Y., December 7 (#).— Eppy Hazard, who is 45 years in arrears in alimony, is appealing from an order of SBupreme Court Justice Rhodes that he _pay his divorced wife $2,400. Eppy is 75 years old. FEDERAL LAND BANK BONDS, Spectal Dispateh to The Btar. NEW YORK, December 7.~ Land Bank 4% Land Bank 4s Land ank 4s d Bank 43 an D! EARG Banic 8°Nay Todiopht Land gnn{ il May 1941ops1 . TREASURY CERTIFICATES. 1:lu r:i;d‘ ‘-gl v & "V""‘Ta'.' & cs) 4 Be 1% ‘.én has turned for the better, while some industrial trends have had a similar ef- fect. Thus the decline in steel outp apparently is being checked at a well below the exceptional rate of the Summer and the bel efm u"held now that 8 recovery may begin in January. Wuklyr{lnk clearings, 012.9051-.?!10.000. a decrease of 16.5 per cent from a year g0. e UTILITIES EARNINGS. NEW YORK, December 7 (4).—Net earnings of 95 public utility companies, exclusive of telephone and telegraph nies, for October, lf $83,000,000, an increase of $: 18 or 20 great aystems is clearly over the corresponding month o000 52 last year. FER FOREIGN EXCHANGE. (Quotations urnighed by W, B Hin o i value (c‘r":‘?. 193 i ondon, aris, fr erown (rom oty.... ...\l