Evening Star Newspaper, December 24, 1929, Page 10

10 T E» FINANCIAL PINANCTAL. : , . HOUSTON PLANNING 1STOCKS GO HIGHER ADItIb Power & Pap 5 35 a5 35 (4304 6% Curtiss Wright Cerp. 1 16% 16% 16% Stand Invest Corp. Fiduciaries Section of D. C. Association to Carry on Active Program. BY EDWARD C. STONE. Chairman David N. Houston of the fiduciaries section of the District Bank- ers’ Association is arranging some im- tant sessions to take place after the first of the year. ‘This is one of the three new sections of the association formed last year which have made such marked prog- “ress in so short a time. The other officers are_ Vice Chairman B. L. Colton, trust offi- cer, District Na- tional Bank, and the secretary, Ken- neth F. Brooks, as- sistant _trust officer, Riggs National. Chairman Hous- ton, who is trust officer of the Amer- ican Security & Trust Co., recently ap- pointed complete commitiees to carry on the year's work. The executive con- mittee includes the above officers, to- gether with William H. Baden, trust officer, Washington Loan & Trust Co., and Erskine Gordon, trust officer Fed- eral-American National. The new com- mittees include: Standardization—Chairman, Willlam M. Baden: David Bornet, assistant trust officer, National Savings & Trust Co.; Barnum L. Colton: George M. McKe>, assistant trust officer, Riggs National: Irving Zirpel, secretafy and assistant | trust officer, Union Trust Co., and f§. Tliot Moran, assistant trust officer, | ‘American Security & Trust Co. | Trust law and legislation—Chairman, | A. A. Hoehling, vice president, trust officer and. general counsel, National Metropolitan Bank: Erskine Gordon, Federal American; Bruce Baird, assist- ant trust officer, National Savings & ‘Trust Co.; Edward J. McQuade, vice president, Liberty National, and Ralph D. Quinter, trust officer, Commercial National Bank. Insurance trusts—Chairman, T. Stan- ley Holland, assistant trust officer, American Security & Trust Co.; Leon- ard Marbury, assistant trust officer, Washington Loan & Trust Co.; Irving Zirpel, Union Trust Co.; Ralph P. Bar- nard, District National, and Kenneth F. Brooks, Riggs National. Standardized trust forms—Chairman, J. Eliot Moran, American Security & Trust Co.; Roger P. Hollingsworth, as- sistant trust officer, National Metropoli- tan; William S. Loyn, assistant secre- tary, Union Trust Co., and Charles D. Ratcliffe, vice president and assistant treasurer, Munsey Trust Co. Taxation—Chairman, Alexander Wolf, trust officer, Second National; Aubrey 0. Dooley, assistant trust officer, Fed- eral American National; Thomas P. Littlepage, Liberty National: Joseph A. Rafferty, trust officer, Merchants Bank & Trust Co.; Thomas T. Keller, as- sistant trust officer, Merchants Bank & Trust, and Ralph D. Quintner, Com- mercial National. Education and pulicity—Chairman, Victor B. Deyber, president, Second Na- tional Bank; Frederick P. H. Siddons, secretary, American Security & Trust Co.; Norman Fischer, trust officer, Con- tinental Trust, and James H. Baden, vice president, Commercial National. Security Storage Dividends. ‘The board of directors of the Security Btorage Co., at its meeting yesterday, declared the usual quartely dividend of $1.25 per share, payable January 10 to stockholders of record on January 7. ‘The board also declared an extra divi- dend of $1.50 per share, payable De- cember 30 to shareholders of record on December 27. The directors did not forget the employes and voted the usual extra compensation, according to an- nouncement by the vice president and treasurer, C. W. Pimper. The $1.50 extra shows that the company has en- Joyed an excellent year. Bankers' Bulletin Out Today. ‘The District Bankers’ Association monthly bulletin made its appearance today. The advertising committee, Eliot H. Thomson, chairman, reports a decided increase in the memberships } and the average amounts subscribed in the Christmas Savings Clubs. Last year the members subscribed an average of $85 per person. It is expected that the average this year will be higher. The committee is stressing the fact fact that Christmas Savings Club money can be used for every purpose and is of special value at the close of the year. Already the average savings of Washington club members are about 25 per cent above that for the rest cf the country. It is announced that the Munsey Trust Co. opened a club for the first time this year and is having a heavy enrollment. ‘The committee considers that the com- ing year presents unusually favorable opportunities for utilizing advertising, especially for the development of sav- ings and safe deposit depastments. Greater interest in sound investments and.-real estate may be expected and k credit and service can be success- fully exploited. Bank Holds Christmas Party. Members of the Federal-American Club were guests of the bank Saturday evening at a dinner and party at the Columbia Country Club, when a Christ- mas bonus of 6 per cent of the annual pay roll was distributed to_emnvloyes. John Poole, president of tne bank, pre- sided as toastmaster. The party marked the rounding out of & year’s service as president of the club by Mrs. Florence 5. Hoskinson, and she was succeeded in the presidency by W. .. Sandergon, paying teller of the bank. $330,000 Phone Outlay Voted. An appropriation of $333,010 for im- provements and new construction in the istrict of Columbia during the first quarter of 1930 was voted by the board | of directors of the Chesapeake & Poto- mac Telephone Co. at its meeting yes- | terday. Of this amount $278.500 is to be spent for improvements and the bal ance for underground cables and the installation of the new telephone type writers for the Metropolitan Police De- Fartment. . Among the directors present wi Walter 'S. Gifford, president of American Telephone & Telegraph Co. Financial District Notes. Chairman H. G. Hoskinson of the Di trict Bankers' Association Credit Bu- reau reports that the business of the bureau is running along very smoothly and that member banks are showingz eplendid co-operation. Suggested form David N. Houston. changes have been adopied by the | eouncil of administration. ‘The annual Christmas banquet and ! dance of officers and employes of the Liberty National Bank was held in the lobby ‘of the bank last night. The vaulted main banking room was deco- rated for the occasion. Many of the cirectors were present. The Acacia Mutual Life Assoclation will hold a big Christmas party for its employes this morning at 9:30 o'clock at® its ‘building, 101 Indiana avenu: northwest Exchange Closes Tomorrow. ‘The Washington Stock Exchange will b closed tomorow. Today's trading was light. National Bank of Washington sold at 280, Columbia Sand & Gravel preferrec_at 88, National Metropolitan at 371, Potomac Electric Power pre- ferred.at 105 and 104!, and Capital ‘Traction at 75. Bond sales in Washing- ton Gas and Railway & Electric is- sues brought recent prices. Lanston was quoted 110 bid and 125 asked. An American is credited witk: the frat ‘wmachinery for making nails. * c 88% ADItIBI P & P pf(8). 159% Abraham Straus . 34 Adams Express1.60) 119 Advance Rumley pf.. 4% % Ahumada Lead..... 223% 77 Alr Reductn (t4%4)., 48% 20 Alr Wal El Ap(2%). 114 1'% Ajax Rubber... 10% 4% Alaska Juneau. 25 5 Albany P W Pa 56'4 17 Alleghany Corp... 118% 90 Alleg Corp pf (5% ) 92 804 Alleg Cpf (5% )xw.. 854% 197 Allled Ch & Dye (c6) 78's 85% Allis-Chalmers (3) 20 Amal Leather pf. 17% Amerada Corp (2)... Bank Note(ft3). 5% Am Beet Sugar.. 27 Am Bosch Magneto. 40'4 Am Brake Shoe 2.40. 4% Am Brown Bov Elec. Am Chicle (+21%) Am Com Aleocl. Am European Sec. 1 A1 Am & For Power ... 588 2% 014 Am&Forn Pwr pf(7) 86! Am&For Po2d pf(7) 1 3% Am Hide & Leather.. 2 234 Am Hide & Lea pf. 1 40 Am Home Prod 4.20.. 3 29 American Ice (3). 3 29% Am Internat (32)... 21 215 Am La F & Foamites, 4 3 90 Am Locomotive (8).. 12 120 111% Am Loco pf (7). 4 81% 3115 Am Metal (3). 80 84% 72% Am P&L of A st (5), 65% 28 Am Ra&Std San1%. 64% 12% Am Republics 144% 60 Am Roll Mill (e2) 41% 19'¢ Am Seating (2). 120% 62 Am Sm & Ref (4). 138 123% Am Sm & Ref of (7). 49 38 Am Snuff Co (13%)., 79% 35% Am Steel Fdy (3)..., 85 40 Am Stores (123 94% 56 Am Sugar Rfg (5) 60 18 Am Sumatra (3) 310% 193% Am Tel & Tel (9). ... 235 160 Am Tobacco B (110) 121% 114% Am Tobacco pf (6).. 181 115 Am Type Fary (8) 199 50 Am Water Wks (¢ 27% 5% Am Woolen. 68% 15% Am Woolen p! Am Writ Paperetfs. 1 6 Am Writ Paprpf(3) 2 381 Am Zinc LA&Sm.... 3 8% Anaconda Copr (7)., 535 173 80 5 Anchor Cap (2.40)... 17 154'¢ 96 Anchor Cap pf (6%). 68% 30 Andes Copper (3)... 49'% 18% Archer-Dan-M (2) 95 75 Armour Del pf (7) 18% 5% ArmourIll (A), 2% Armour Il (B). 298% 195% Atch T & S Fe (10). 104% 99 Atch T&SF pf (5)... 209% 161 Atl Coast Line (110). 86% 32% At1G & W Indles. 77% 30 Atl Refining (13). 140 67 Atlas Powder (15) 17% 5 AtlasTacK....... L 514 120 Auburn Auto (j4)... 6 188% 11% 3% Austin Nichols, 1.% 65 49'% AustrianCred (4.49) 3 b56% 35% 7% Autosales. et ", 20 5 AviationCorp. Del.. 62 6% 66% 15 Baldwin Loco (1.76). 30 28% 145% 105 Baltimore & Ohlo (7) 64 115% 90% 55 Bang& Aroos (3%). 29% 2% Barnet Leather..... 4914 20 Barnsdall (124).... 113% 55 BayukCigars (3)... 32% 13% BeaconOil....... 131 69 Beatrice Cream (¢).. 17% 4% Belding-Heminwav.. 104% 25 Bendix Aviation (2). 60% 25 Best& Company.... 140% 78% Bethlehem Steel (§). 128 116% Bethlehem St of (7). 136% 37 Bohn Alumn&B (15) 63% 18 Booth Fish 1st pf. 100% 53 Borden Co (k3) 86% 26 Borg Warner (4). 15% 2% Botany Con M (A)... 631 8l Briggs Mfg........0 43% 17% Briggs&Stratton(2). 13% 3% British Em Stl2d pf. 73% 14 Brockway M T (3). 81% 40 Bklyn-Manhat (4) 92% 76% Bklyn-Man Tr pf (6) 15 7 Brooklyn & Queens. . 65 44 Bkiyn&Queens pf(4) 248% '99 Bklyn Union Gas (5) 51% 36 BrownShoeCo(3).." 1 56% 16% EBruns-Balk-Col(3). 42% 14 Bucyrus Erfe (1).... 50 26% Bucyrusevof (2}%). 12% 8 Budd Wheel (1).. 34 21% Bulova Watch (3) 127 88 Burns Bros A (8) 39 22% Burns Bros B. 96% 29 Burronghs AM 89% 31% Bush Term (g2) 9% 2 ButteCop&Z (i . 4% Butte & Superfor (2) Butterick Co... Byers (A M) 47% 20 By-Prod Coke (1) 847 63% Calif Packing (4) 4 1 CallahanZinc&L. 136% 73'% Calumet & Ariz (10). 61% 25 Calumet & Hec (4%) 98% ' 45 Canada Dry G A (6). 265% 185 Canadian Pac (10).., 48% 28% Cannon Mills (2.80) 65% 17 Capital Adm (A).... 1 39% 29 Capital Adm A Df(3) 467 130 Case (J 1) (6 e 1519 61 50% Caterpillar Trac (3). 2 42% 17 Cavanagh-Dobbi 48% 21 Cent AguirreAs1%. 3 59% 274 Cant Alloy Steel (2). 120 524 Cerro de Pasco (6). 32 114 Certain-teed Prod 80% 18 Checker Cab (4.20) 279% 160 Ches & Ohio (10).... 92 42% Chesapeake Corp (3) 19% 4 Chi& Altor 66% 37 Chi& Eastl 23% 7 ChiGreat We: 63% 17% ChiGreat W 1 78% 4% 82 33% 4 32 98 9% 3 123% 2 52 1 29% 19 75 Chlcago & N W (5) 21% 50 2i 75% 44% Childs Co (2.40). 26 Chrysler Corp (3)... 225 7% City Stores (1).. 8 72% 34% Cluett Peabody (6).. 11 36 1544 101 Coca-Cola (4)... 1129 10 Collins & Atkman... 3L 14% 65 Collins & Ak pf (T).. 17 70% 27% Colo Fuel & Iron. 16 36 52 Col Gas & El (2). 90 67% 99% ColGas& Elpf A 6). 1 1068 88% 16% Coldmb Graph(87c). 274 274 344 105 Columblan Carb(16). 23 164% 2% 18 Com Credit i2) 22% Comm Credit A 34 10% 51w 28 20% Comm Solvents (1) 10 Comm&So(bb%stk). 339 35 Conde Nast Pub (2). 2 Congoleum-N:; CongressCg Consol Cigar Film (2) i Film pf (2).. 804 Consol Gas. NY (4). 9215 Consol Gas,NY pf(5) 45 Consol RR Cub of(6) 1 Consol Textlle. 3% Contalner Corp B | 25% Contl Baking A 4% Contl Baking B. 79% Contl Baking of (8).. 40's Contl Can (2%). ... 46% Contl Insur (2.40). 6% Contl Motors (80¢).. 18 Conti Ofl of Del... 29% Contl Shares (1) 70 Corn Prod Refin 20% Coty Ino (g2) 24 Creamof Wh 17 Crossley Radlo (11), 71 Crucible Steel (k5).. 116% 103 Cruei 5% % Cuba Cane 1% % Cuba Can 18% 2 Cub 1% % Cuba Cane S pf ctfs. ., 24% 5 CubaCo... 17 6% Cuban-Amer Sugar.. 677% 26 Cudahv Parcking 4), 132 100 Curuis Publish (17). D= 1112 % 4 224 24 22% 22% % S 11 112% 20 20 1% 1% ™M % 8% 8% 234 23% 95% 95% 91 91 241 244% 49 20 184 6% 25 6% ¥ 39% 46 8% 8% 109% 110% © 141 141 77 ki 4 1181 113% 36 36 28 29 a1k 3% 79% 80% 107 94 112% 112% % T 72 72% 10114 1013 213% 214% 1913 195 216% 220 1043 104% 170 170 69% 71y 9 108% 143 7 115% 36% 374 - 3 8% 8% 6 6 183 185 4 4 B55% B5% 6 7 s 5 27% , 28% 114 115 61% % 4T% 4% 108 112 41% 83% 23 113 25% 581y 33% 10 35 129% 14 66 33% 64% 107 26% 160 23 31 37% 26% 12 47 88 + 48 57 6% 22% 30% 88Y 23% K 4% s 87% 13% Curt Wright Corp A. 1214 58 Cutler-Ham (3%) Davison Chem...... Debenhams (a2.31).. Delaware & Hud (). Del Lack & W (17).. Duplan Siik (1). Dupont de N (15. Dupont d N deb ¢ Eastman Kodak(18). Eaton Axle & 8 (3).. Eitingon-Sch (3%).. Eitingon of (63%)... Elec Auto Lite (6) Electrio Boat. ElPwr& Lt (1 El Pwr & Lt pf ( Elec Storage Bat ( Emmerson-Brat A, Endicott-John (8) Eng Pub Serv (11).. Erie R R, Erfe RR % 104% c .l Evans Auto L(33%). Fairbanks Co....... Fashion Park (m2%) Fash Pk Asso of (7). Federated Dept Strs Fed Watr Ser A 3. Fid Pho Fire 1(2.60). Firestone T&R(1.60) Firestone T&R pf(6) First Nat Strs (21%). Fisk Rubber........ Foster Wheeler (2). . Fox Film A (4)... Freeport, Texas (15) Gabriel Snub A Gardner Motor, . Gen Am Tnk Car($4) Gen Asphalt (4) “). Gen Cigar (4). . Gen Electric (173%). Gen Elec spec (60c). Gen') Food Corpn (3) Gen Gas&FEl A (te2). Gen Mills (t3%).... Gen Mills of (6 . % Gen Motors (13.60).., Gen Motors pf (7)... j*n Outd Adv A (4 fen Outd Ad vte (2). Gen Publlc Serv (b Gen Ry Signal (5 Gen Refrac (t4% Gillette Saf Raz(e§, Gimbel Brothers. . Gimbel Bros of (7)., Glidden Co (h2). Gobel (Adolf). Goodyear Tire (5)... Goodyear 1st pf (7).. Gotham Silk H (2%) Graham-Paige. . Granby Copper (8) Grand Silver Stores. Grand Union pf (3).. Grant (W T) (1) Grt North pf (5) Grt North of et (5).. GtNetfsO. P (a3%) Grt West Sug (2.80). Grigsby Grunow (3). Guantanamo Sugar. . Gulf Mo & North.... Guilf Mo & N pt (8).. Hahn Dept St . Hahn Dept 8 pf(63% ) Hartman Corp.B 1.20 Haves Body b %, stk Helme (Geo H) (17). Holland Fur . Houdaille Her B(2).. H'hold Fi pf 3.22% Houston O11. Howe Sound ( Household Pra Hud&Man Ry (3.50). Hudson Manh pf(5).. Hudson Motor (8 Hupp Motor (£2) Intl Agricultural Interboro Rap Tra: Intercontinental Rub intl Rarvester (3%). Int Hvdro B! A (e2). Intl Match pf (4).... Int Nickel of Can(1). Intl Pap &P A(3.40). Intl Pap & Pwr B. Intl Pap & Pwr C. Int! Pap & Pwr pf(7) Intl Printing Ink (3) Intl Silver (18)... Int Tel & Tel 2) Investors Equity(3). Johns-Manville (3). Jordan Motor Car. Jewel Tea (4). Kan Citv Sou (5). Karstadt (R) ( Kaufmann DS Kresge(SS)Co(1.60) Kress (SH)Co (n1). Kreugerd Toll(1.34) Kroger Gr&Bak(el). Laclede Gas (10) Lambert Co (8). Lee Rubber & Tir Lehigh Valley (14%) Liq Carbonlc (1434). Loew's. Ine (13%).. Loft Ine........ Long Bell Lumb Loose-Wiles (: 31% Lorillard (P) Co.... 9% Lorillard (P) pt (7). 18 Louisiana Ofl....... 72% LouG&ElA (1%). 108% Ludlum Steel (3). 46 McAndrews&F 12.85. 59 McKesson & Rob (2) 63 McKen & Rbof(3%). 59% McLellan § A (m20). 114% Mack Trucks (8).... 256% 110 Macy (RH)&Co(o13) 24 n.amnuouu,).. 113% 84% 11% 32% 88% Man Elev mod (d5).. Man Shigt (3).. Maracailfb Oil Exp. Marlin-Rockwell (16) Marmon Motor (4).. Martin-Parry....... Mathieson Alkill (2) IMay Dept Stors(e3). Maytag Co (12)...... Maytag Co 1t p£(6). Maytag Co pf (3).... Mengel Company (3) Metro Gold pf.(1.89). Mexican Seaboard. Miami Copper (4). . 122% Michigan Steel (13).. 39% Mid-Continent P (2), 6% % Middie States Ofl et.. 321 MidldStl Pr pf t13%. 28% Miller Rubber. . 43% Pwr 66% 274 n & 8. ... 107% 98% Mo Kan & Tex pf(1). Missourt Pacifle. ... Missouri Pac of (8)., Mohawk C Mills (3). 47 Monsanto Ch (81%). 156% / 42% Montgomry 81% 42 MorrellJ (3. 1% 3% Motor Meter G & 21 Motor Whe 10 Mullins Mfg 14% Murray Cor(b2® stk 100%, 6T 30 Jlyer(FE)& Bro (). 236 - rnan=i3 cuSanane t Acme (13%). 1 Air Tra '3 Natl Bella Hess(21). 108 Nat Biseult (17%)., Nat Biscuit (new)... Nat Cash Reg. A (14) 48 105 2 Natl Radlator pf. Nat Supply (17). Nat Tea Co (2). N N Y Raflways pf. Norfolk&Wstn(112). North Am(b10% stk) North Am pf (3. Northern Pae (5) North Pac ct (8). Nor Ger Lloyd(3.41). Ofl Well Supply. . Oliver Farm Equi Olivr Fr Ep ev pt(3), Ol'vr Fr Eq of A(6), Otis Elevator (18). Otis Steel (3%) Owens I11 Bottle(c4) Pacific Gas & K (3).. Pacific Lighting (3) Pacfic Ofl stubs. Packard Mot (11.: Pan-Am Pete B, Paramount-F-L (3. Park & Tilford (33). Park Ut . Parmelee Tra Pathe Exchan Pathe Exchange A... Peerless Motor Car Penick & Ford (1). Penney (JC)..uuu.e Penn Dixle Cement. . Penn Dixie Cemt pt. Pennsvivania RR(4. Pet Milk (1%). % P Phila& Read C& 1. Phillp Morris (1) Phillips Pet (13). oi1, Deo Postal Tel & C pf (7). Prairie O&G (12%).. Proc & Gamble (2). Prod & Refiners Public 8, N J (13.40). Purity Baker! Radio Corp. Radiopf A (3%)...e Radio pf B (5). Radio-Kelth-Orph A, Raybestos Man 2.60. Reading (4) Reading 1st pf (2)... Reo Motor (71.40. epub Ir & Steel ( Rep Ir & St of (7 T . Rhine West (1.92)... Richfield O11 (2) B ¢ Rio Grande Oil (k2). Ros Ins (220).... Royal Duteh (a3.20). Rutland pt. Safeway Stores (e5). St Joseph Lead (13 St L-San Fran (8). St L-San Fran pt St L Southwestern Seagrave (61.20).... Sears Roebek (32%) Shattuck(FG) (11%) Shell Union (1.40)... Shuber't Theatr Simmons Co (g3) Sitmms Pet (1.60) Sinclair Con OIl (2).. Sinclatr O11 pf (8). Skelly O1l (2) Solvay Am Inpt 6% 8o Porto R Sug 12%. Southern Cal Ed (2). South Dalries, A 1% Southern Dairies B Southern Pacific (6 Eouthern Rwy (8). Southern Ry pf(§) Spalding (AG) (3) Sparks Withngtn(1). Spencer Kelg(1.60).. Stand Brands (1%).. 125 Stand Gas & E1 (3%) 366 107% 104 111 Sta Ofl “14% TH 40%4 29% 261% 150 144% 137 58% cacgacaaqd 8 s 8 s s s s 65% Willys. 9l Young 6% Zenith Utd Gas & Im p2(§) Utd Plece Dye Wks. United Stores A..... 5 U S Distributing.... 2 15 U S & Forelgn Secur. 15 22 U S Freight (3)..... 2 96 U S Hoffman (2).... 18% S Ind Alcohol (17). 172 128 S Leather.... 4 6 Leather A (4)... Leather pr pf(7) Pipe & Fdry (2). Warner Bros Pic (4) War Bros P pf(2.20) Warner-Quinian (2). Warren Bros (19) Webster-Eisenlohr. Wess Oll & Snow(2). w Westinghse E&M (5) Weston El Inst (1).. [ White Sw Mch pfi4) Wilcox O1l & Gas.... Wilcox Rich B (c2). 5%« Willys-Over (€1.20). -Over pf (7). 313 Wilson & Co. . 52% \Woolworth (2.40)... 43 Worthington Pump.. 30 Wright Aero (2).... 7% Yellow Truck & C... 33% Young Spring (3)... RIGHTS EXPIRE % Am Rollg M..Feb 15 % Col. Carbou 5 N Y Central 3 PennRy.. 12% Peo. Gas & ;i W Reynolds Spr.Jan 24 1 of Cal (h23%) 47 Stand OIIN J (12)... 222 " Stand OfI N Y (1. Sterling Seo A)..... Sterling Sec pf(1.20) Sterling Sec ov pf(3) Stewart Warn(j334). Stone & Webster (2) Studebaker (35 Submarine Boa! Sun Ofl (p1). Superior Ofl. Superior St 91 Tenn Cop &Ch (1).. 50 Texas Corp (3)..... Timkn Det Axle 1800 Tob Prod dvctfs A.. Transcontinental Ol Transue & W (1).... Trico Prod (2% ).... Truax Traer (1.60), Truscon Stl (£1.20).. Twin City Rp T (4). Und Eillod Fishr () _ Union Bag & Paper. . Uniton Carbide(2.60) Union Oil of Cal (32) Union Pacific (10) Utd Alrcraft&Trans. Utd Afrcraft&T pt 3. Utd Biscult (1.60)... 3 Utd Biscult pf (7) 125 Utd Business Pub. 30 Utd Carbon (2). Utd Cigar Stores. ... United Cigar Strs pf. 20 Utd Corporation.... 2% 4% Market Points Upward at Opening, With Many Issues Making Gains. By the Associated Press. NEW YORK, December 24.—A last- minute demonstration of Christmas bullishness on the stock market today drove shorts.to cover, and lifted a wide assortment of popular shares 3 to 5 points. The upturn was in the face of tightening money .rates, call loans renewing at 5'2 per cent for the first time since November 18. The volume of business quickened with the upturn and the ticker fell a few minutes behind the market. United States Steel, American Can, General Electric, Simmons and several of the utilities led the advance. The market gathered strength as trading progressed, with short covering an important factor in the advance. A few soft spots cropped out here and there, Sears-Roebuck falling 3 points, presumably in response to the termina- tion of the negotiations for a merger with the J. C. Penney Co. - General Electric quickly extended its gain to 4 points and United States Steel common to 2%. Foster-Wheeler also sold 4 points higher and A. M. Byers and Johns-Mansville were mark- ed up 2 points. Public utilities gave a fairly good demonstration of group strength, Amer- ican & Foreign Power, Pacific Gas & Electric, American Water Works, Stand- ard Gas & Electric and Consolidated 3% | Gas all selling 1 to 21 poinis above yesterday's final quotations before the end of t¥|e first half hour, b Foreign exthanges opened easier, with 8% | Sterling Cables down 3-32 of a cent, to 100% | $4.884. .20) 29% Smelt Ref (3%) 3 24% Ut Pwr&LtA 3 Vadsco Sales 37% Vanadium (14). . 33 Vick Chemical(2%). 3% Virginia-Car Chem.. 15 Virginia-Car 6% of.. Wabash........ Wabash nf A (6).... Waldort Systm (1%) Walworth Co (2). - e @ » BarB o8-S uulirr2runeeb-2nBunns ara o P w~ @ Sheet & T (5) Radlio (2).... » «Mar. 11 Ji n 15 an.15 3, 1 119 % Utd Gas im..Dec 31 589 132 132 8 10:30 AM., 343 1:30 P.M., 15 Dividend 28 2 oayments base: e 4% In stock. iPlus 40 [ iast year—no 3 il §0% in ‘stod 2614 in stock. "k Pis 15 105 103% Sales of Stocks on New York Exchange. 370,200 1587,700 es as on th Unlt ol trading aquarterly or hall. ess than 100 shares 35 In preferred st regular of ' share in rtock. Wall Street Briefs 3y the Assoclated Press. A committee has been organized to protect the interests of creditors of the International Combustion Eungineering Corporation and its subsidiaries, which recently went into a receivership. George L. Bourne, president of the Su- perheater Co., is cl an of the com- mittee. Another member is R. E. Mc- Grath, vice president and secretary of the Bethlehem Steel Corporation, which brought the receivership proceedings. ‘The Associated Life Companies, Inc., insurance company holding organiza- tion, has acquired a substantial intcrest in the Shenandoah Life Insurance Co. of Roanoke, ‘With this acquisition, the Associated company now control or owns a large interest in comparies having more than_$275,000,000 of in- surance in force. No changes in loca- tion or personnel will be made as a re sult of fthe transaction. ‘The copper market continues quiet and on a hand-to-mouth basis, both here and abroad. Sales reported today axest passed the 750,000-pound mark. ports from the trade indicate that an improvement in buying is expected before the middle of January. ‘The Weston Biscuit Co. of Toronto, which operates an American factory at ‘Watertown, Mass., plans to open a se ond factory in this coun‘ry, to be‘lo- cated at Passaic, N. J., about February 1, 1930. Establishment of additional plants in this country, in-the West and on the Pacific Coast, is also planned for next year. b Thl: Glover Sp‘l’ln: 1‘:2?)“ Co. Dl‘Pltu; urgh has leased 1,120 acres of coal llnfl'.! from l&\e United States Coal & Coke Co. a subsidiary of the United States Steel Corporation. Directors of the Atlas Plywood Co. have voted a quarterly dividend of 50 ts a share on the new common stock, it on a $2 annual basis, which equal to the $4 rate pald on the old stock, recently split two-for-one. The dividend is payable January 15 to stock 2 of record January 2. A Chicago dispatch to Wall Street today said that the North American Car Co. has practically completed nego- tiations for the purchase of one of the I r private car lines. Further de- talls could not be ascertained. . Allowed Seven Matches, LEIPZIG (#)—Each restaurant pa- tron in oemnn{dh entitled to seven free, sald a federal court de- S LTRSS s cafe patron y bill because he had been charged 1 cent for 10 matches. - s Daneing is ing popular am it Ry becom! Pular among WALL STREET CLERKS FINDING TIME TO SPEND BONUS MONEY BY LEMUEL F. PARTON. Special Dispatch to The Star. NEW YORK, December 24.—A lean Christmas for short-enders in the mar- ket isn't necessarily so lean in and around Broad, Wall and Nassau streets. Aside from the fact that this year's Christmas bonus Snymenu are larger than was expected, merchants in the district are profiting by the fact that for the first Christmas in three years employes of stock exchange houses, banks and brokerage houses have time to spend the money. This was the ex- planation of brisk business in the heart jon whence have come tales pending gloom and doom. “If the market is too good, we are Punished,” said the owner of a de luxe sporting goods store down near the center of the financial Whlrlgool. “These people here work at such high pressure on these 6,000,000-share days that they literally haven't time to go out and spend their money. Last year when the street was rolling in_money. we didn't get much of it. Shopping was put off until the last minute, and then they bought something in their ho;nse districts, uptown or in the sub- urbs. Bonuses Were Large. “With things easler this year, there is time for a stroll after junch, and clerks, managers and even the big bosses have time to see what we have. Of course, if this slump had been as bad as it might have been, no one would have h: any money left. That's the worst of running a business around this financial district. When things are booming nol has any time to go shopping, and if they are very bad there isn't any money to spend. This year hits in between the two extremes, and we aren't complaining. This reassuring state affairs is g:n.ly explained by the generous nuses passed out all along the street. One stock exchange firm, Charles D. Barney & Co., gave its employes addi- tional - payments ranging from 5 per cent to 80 per cent of their year's salary, according to time of serv- ice. The same payments were made last year, in accordance with a profit-sharing plan maintained by the company, and it was announced that they would be paid again next year. A Christmas bonus of from 10 to 25 r" cent of a year's pay was given to ihe employes of H. A. Linde & Co., stock brokers. Many houses declared a Christmas bonus of one month's pay. Other bonuses ranged from 1 to 10 per cent. The slump. in sales, after the early November blowup, found many houses overmanned and, in spite of the surface Aupsarance of prosperity in the Ainancial district, many employes were dismissed. Many houses look for, renewed activity after the tax selling ends on December 31, and, wishing to keep their staffs to- gether, have allowed numbers of their employes to take vacations on full pay. In fact the evident desire of brokersge houses to hold on to every competent man has disclosed the fact that the street itself more than confident that the big excitement will start all over again after the holidays. Perhaps that is putting it too strong, but dealers unquestionably believe there will be sharp upturn in sales and they are try- ing to keep their staffs intact. This writer found one broker, employer of a large office crew, who said that this force was doing little more than mark time and that he was retaining them all. Jewelry Sales Good. “Brokers who keep their heads and do not get too deeply involved clean up on a falling as well as a rising mar- ket,” he said, “just so long as the big turnover continues. Many firms did better this year than ever before, If you are doing a fairly decent business in this line, vour working overhead may be in muci cmaller proportion than that of a manufacturing business, with heavy labor costs. Thus, stock firms in a ‘sound position can afford to carry over their crews and stall through a dull period. When there is a big pull market on, there are many firms which get into the way of doing things on a large and lavish scale, heavily over- staffed and careless of expenditures. It is they who have been cutting down. Outfits which have been run on a strictly business basis were ready for the gale and most of them in this cl]tl;unnll_"!i' rrying thioir people through all right.” In retail districts throughout New Yeork generally, it is reported that be- low the jade and sable coat zone, the sale of luxuries is up to normal vol- ume The demand for extremely ex- pensive articles has slumj badly, but outside of this buying of jewelry, furs and other such expensive articles is up to the usual level. The National Jewelers, board of trade reports tha most of its members are transacting their normal Christmas business, MONEY MARKET. NEW YORK; December 24 (#).—Chll money renewed at 5': per cent, the highest renewal rate in more than a month, but was in good supply at that rate. Time money was unchanged at 4% to 5 per cent. Leading dealers in bankers' accept- ances raised the bid and asked rates o 60 and 90 day bills 15 of 1 per cent to 41¢ per cent bid and 4 per cent asked. ‘This 18 Qh& me rate as that prevailing for 30 and' 120 day acceptances. - 96:n 20% | from 53 to 5 and the S 4% | rate was reduced from 5 to 4! per % 16% The Bank of England made no change in its rediscount ratz, but the Danish National Bank cut its rate ish Bank cent. Fluctuations in the last hour were insignificant_either way, many traders leaving the Street early for the holiday, Trading.dwindled steadily and amount- ed to only about 2,000,000 shares for the day. Prices finished around the highest at advances of 1 to 5 points over the previous close. Some of the low priced stocks showed the effects of further tax selling, Shubert Theater and Schulte retail stores sinking to new lows for the year. The close was firm. Corporation NEW YORK. December 24.—The fol- lowing is today’s summary of important corporation news prepared by Standard Statistics Co., Inc, New York, for the Associated Press: News Trend. Trade news for the day falled to dis- close any items of a favorable nature. Loadings of revenue freight showed a | decline for the eighth consecutive week from the corresponding week last year. In the week ended December 14 total loadings amounted to 923,240 cars, a decrease of 13,583 cars under the pre- vious week in 1928, but an increase of 54,490 cars over fhe like week in 1927, Coal and coke were the only commodi- ties comparing favorably with last year, showing an ‘increase of 14,951 cars, Wwhile miscellaneous freight and grain recorded the largest declines. All dis- tricts but the Pocahontas show de- creases compared with the same week inary figures for daily a i3 crude ofl production for the we’ck mfl December 21 totaled 2,620,580 barrels, a slight increass over the preceding week, Little of importance in corporate news was reported during the day, Railroad earnings continued to show substantial declines for November com- pared with a year ago. The Companies. Acme Steel chairman of boas i maztes“l,929 earnings at $10 per :Idlll:‘ . Bliss Co. president estf 'S net at $5.15 a share for yelrm;;';l. 6% | against $2.38 last year. Chicago & Northwestern earnings es- timated by president at $9 a Ehll.': for year 1929, against $6.62 last year. De Beers Consolidated Mines earned $1.68 in 12 months to June 30, against 3!&0 last * awneer earnings for 1929 esti- mated at $4. pit - Kolster Radio plants shut down to permit working off of inventories. incoln Printing garned $2.47 in 11 months to November 30, agfinst $2.15 a year ago. Middle States OIl, with subsidiaries, receives tax refund of $4,320,775. Mountain States Power net, before depreciation, up 9.2 per cent in 12 months to October 31. New England Power Association No- vember net (before depreciation), up 32 per cent 11 months, 26 per cent above year ago. J. C. Penney Co. terminates negotiu~ gona for merger with Sears-Roebuck o. Pilot Radio & Tube November sales up 329 per cent: 11 months, 53.1 per cenf above year ago. | Reading Co. November net off 33.0 | per_cent; 11 months, down slightly. Triplex Safety Glass estimates pro- | duction of non-shatterable glass in | 1929 at 11,000.000 square feet. ‘Wisconsin Public Service net, before depreciation, up 105 per cent in 12 months to October 31. 'NORFOLK & WESTERN RY. SHOWS GAIN IN EARNINGS By the Associated Press. ROANOKE, Va. December 24.—An | increase of $479,591.87 in net income for the month of November, 1929, over in the monthly statement of revenues issued today by the Norfolk & Western Railway, For the 1l-month period ending November 30 an increase in net income over the corresponding period in 1928 of $10,598,826.77 was shown. Reilway operating revenues _aiso showed an increase for the month of November in 1929 over the same month in 1928, the increase being $131,235.45. Correspondingly, the 11-month period showed the operating revenues to have increased $10,438,241.91 over the same period in 1928, As the net income increased the operating expenses decreased. For the month of December, 1929, the expenses dropped $342,032.95 when compared to November, 1928. GERMAN BONDS AND STOCKS. By Special Leased Wire to The Star. NEW YORK, December 24.— Bid. Asked. Ger Gt Red Loan with drawing ctfs attached per 100 R Ger Gt Red Loan without 1C00R M. . s per thicusand marks.) German Gen Elect :P‘: 916, 338 300 en Elect 4) v X Berlin 4s. pre.wi b . 38 & 45 bre urk ‘American Line North German Lioyd 41ss Krupp 85 1931 Siams . 5338883288583 R ] 5333833333233 Liusssses 25w ation-wide lepartment store cl will receive CI bonuses neasly $500,000, g B the same month in 1928 was r!vellea‘\‘