Evening Star Newspaper, December 24, 1929, Page 12

12 ‘& 7" FINANCIAL, = ey 'HIGH-GRADE BOND GROUP 1S STRONG Prices Irregular in Light Trading—Rail Issues Show Gains. BY F. H. RICHARDSON. Epecial Dispatch to The Star. NEW YORK, December 24—The in- vestment market was dull today in the lightest volume of trading in many weeks. Price trends were irregular. Stiffer money rates had little effect. Gains were made in some descriptions despite the liquidating tendency. In the foreign department there were some declines, the tax selling incidental to the last week of the year making its effect more pronounced on this section owing to the heavy losses that have been registered in foreign dollar credits re- cently. However, there were some gains in_this part of the list. High-grade domestic bonds showed strength. Atchison general 4s, South- ern Pacific 4!2s, St. Louis-San Fran- cisco “A” 4s and American Telephone | 5148 all were higher. Second-grade rail issues were about evenly divided be- tween advance and decline. St. Paul adjustments, Denver & Rio Grande ‘Western 5s, International Great Nortn- ern adjustments, Missouri-Pacific 4s and Southern Railway General 4s im- proved, while Erie refunding 5s, Florida East Coast 5s, St. Louis-San Francisco 41s and Rock Island 45s weer lower. ‘The Florida East Coast 5s were down mearly a point and within a fraction of their low price for 1929. ‘The irregularity was strikingly shown in the more speculative section. Hudson Coal 5s drcpped 3 points, while Philips Petroleum 5'%s were up 1': points and Richficld Oil of California 6s advanced 2 points. Convertibles all improved with a stronger stock market. The outlook for fixed income securi- ties remained bright, and new issues, especially municipals and rail equip- ments, were sure of a quick absorption. In connection with rail equipments the announcement of a $100,000,000 issue to be floated by the Chesapeake & Ohio, Hocking Valley, Pere Marquette, Erie and Nickel Plate Railroads in the near future was interpreted as bullish for the market. South American bonds had a weaker trend. Sao Paulo City 6'is were down over 4 points, Bolivia 8s dropped a point and Antioquia “A” 7s were nearly a STAR, WASHINGTON, THE EVENING [ox v vo BONDSmoex scaa] 501 EXPORTHELD Received by Private Wire Direct to The Star UNITED STATES. Bales are 1n $1.000.) Sales. High. Lib3%s... 6 9911 Lib 1st4%s 20 Libath ¢4 e 9911 75 1012 107 11 S4s 4 S4%s52. 150 111 FOREIGN. Sales. High. 22 96 Argentine 6sJu 59. 957% Austria 7 Bank of Chile 6148 Rank of Chile 6%s. Belgium 68 Belgium 6% Brazil 6%s 1 Brazil 6%s 1927.. Brazil 7s.. Brazil 8; Canada 6s 1931 Canada bs 1952 Colombia 6s Con Pow Copenhagen 4%s Copenhagen 53 ¢ Czecho 8s 1951 Czecho 8s 1952 Danish Munie 8s A. Danish Munie 8s B.. Denmark 4% Denmark DEI 6%sMch53.. Dutch Fast | 65 47. Dutcn East I 65 62.. Finland 6% B 2% o2aSanm—ncan 2 French 7%, German Bank §s '3 German 7s. e Irish Free State bs.. Italy 7s. Italian Pub S 7. Japanese 4s. Japanese 634s... Kreuger&To'l bs NmNagb o point lower. On the other hand, Euro- pean credits were stronger. An excep- tion were the 6 per cents (October, 1960) of the German Central Bank, down a point. e NICARAGUAN REACTION TO INTERVENTION GIVEN MEXICO CITY ().—Adding to the title the explanation “this is not a book of hate,” Hernan Robleto, undersecre- tary of education in the Sacasa govern- ment at Puerto Cabezas, Nicaragua, in 1926, and now in newspaper work here, written a volume purporting to give the true Nicaraguan reaction to Amer- dcan intervention. He does not attack the action by the United States, but .rather his book, *“Blood in the Tropics,” warns against sending to Nicaragua men who do not comprehend the country’s needs. He indicates that men like Secretary of: State Stimson are wanted to solve! properly the problems of his country. “Send men with justice and don't up- hold unpopular governments,” he warns. . Ni know the United States much better than Americans know Ni , the author says, suggesting ‘that the latter would give a little more study to his country and country- men there would spring up a closer un- derstanding and stronger friendship. Washington Stock Exchange SALES. Petomac Electric 512% pfd.—10 at 105. National Bank of Washington—1 at 280. Columbia Sand & Gravel pfd.—10 at 88. AFTER CALL. National Mtge. & Inv. pfd.—31 at 4%. Washington Gas 55—$2,000 at 100%, $1,000 at 1002, $500 at 100%%. Washington Gas 6s B—$1,000 at 10415 National Metropolitan Bank—8 at 371. Potomac Electric 5%% pfd.—30 at 10415, Rwy. & Elec. 45—8$1,000 at Capital Traction Co.—10 at 75, 10 at 75. Notice—This exchangs will be closed tomorrow. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Telga. 415 '33. Amer. Tel. & Telga. 4'25 '3 Am. Tel. & Tel. ctl. tr. 5s t. R. R. 58 C.iy & Sub Georgetown Gas 1st 55 Potomac Elec. cons. 5% Potomac Elec, 6s 1953, Wash., Alex. & Mt. Vi ash.. Balto. & Annaj ashington Gas 5s.. ash. Gas 65, series A. Wash. Gas 6s. series Wash. Rwy. & Elec. 4s. MISCELLANEOUS. Barber & Ross, Inc. 6!as. Cham.-Vanbit. ‘Hotel 6! Chevy Chase Club 5%s. Paper Mig. 6s. 1d Sto; ‘Wash. Cons. Title 6s. STOCKS. ‘PUBLIC UTILITY. o N ; vash. Rwy. & Elec. com W Rwy. & Elec. pfd. . Wash,, Balto. & Annap. pfd NATIONAL BANK. National Capital ¥ 1 Columbia : 523 on * pSlehE T ational Bank of ‘Washington. 285 TRUST COMPANY. American Security & Trust Co.. 430 o ..o L1331y 130 [3 Union Trust........... Washington Loan & Trust SAVINGS BANK. Bank of Bethesda... Commerce & Savings. . ast Washington. otomac e E=curity Saving Seventh Street Tnited States 3 Washington Mechanics'.. .. FIRE INSURANCE. 65 R 300 & Commercial e . 305 American . Columbia eal Estate itle & 1 MISCELLANEOUS. Barber & Ross, Inc.. com.. Chevy Chase Dairy b Securiifes Storage pfd. American Co. ral-American pf: Lanston Monotype. Merchants’' Trans. & Btorage. 2 Merchants' Trans. & Stor. pfd. *98% Mergenthaler Linoty} 106 Natl M i extra. §30 cents extra. 11%% extra. New So Wales 63. . Norway 53 1963. Norway 6% Norway 65 1943, Norway 651944, Reaonaambonnaan e Orient dev 534 58. Paris Orleans 5%s. Paris-Ly-Med 7s. o SenSS o ® - calwnw wate o ¢ 6 1 4 5 9 9 o Swiss Confed Toho El Pow 7 PISPAPE P 1waam MISCELLANEOUS. Abram&Straus6%s 5 100 100 Alleghany Cp 68’44 23 99% 99% Alleghany 5549 wi. 12 9% 9a% AmintCor6%s49. 5 94 3 Am Chem 538 cv 43 40 1034 Am NatGas6%s4z 3 175 AmSmit& R1stbs 4 100% Am Suzar Ref6s.. 4 103 Am T&T cv 4%s 30 392 138% AmT&Teltrbs.. 13 103% Armour Del 6% Assoclated O11 Bell Tel Pa bs . Bethlehm Stl pm b3 Beth Steel 6%853.. 12 105% Bethlehem Steel 63 1% 105 Bklyn Edison 6s.... 2 1034 Certain-Td 6%s rets 14 57 Chila Copper 68 3 Col G&EI bs May 105% 1047 1034 5614 947, 9914 82 [ Con Gas N Y 6% i Consumars Pow 5s. Cuba Cane cv 7 Cuban Am Sng 8s. . Donner Steel 7 Duquesne 4%567. . East Cuba Sug 7%s 1 66 Fisk Rub8s....... 14 8! Gen Cable 6%s 4 1 99 Gen Mot Ae Cor 6s. 22 101 Goodrich 6%s..... 11 105% Goodyear 6s rets. 10 §1% 111 Steel 43 40. . Inland Stl 4343 78. Intl Cement 5548 Int Tel&Teleg 4% int Tel&Tel 4%s ¢ KanCity P& L 6s Lackawa Stl b Laclede 6s. . Lautare Nitrate 6 Liggett & Myers 7s I.oew's Ine & Loew's 6s w o war,. Lorlillard 6%s. ... McCormek ER 65'34 Midvale Steel b3, Montana Pow 2 102% 20 100 NoAm Ed 5% Nor States Pow b Pacific Gas & E) 6 PacT& T Ist b8 Pan Amer P Paramount 6: Pathe Exchange 7s. 12 39 Peoples Gas b 5 102% Phila Co 63 67 18 984 Phila & Read 9. 13 921 Philips Petro 6%s. 7 92% Postal Tel & ChYys 2 94% 10 160% 7 59 18 9% 2 96% £ 100 4 99% Hem Rnd 5%s war. Stnclair O11 6348 Sinclair Ofl 18 Sinclatr Crude 5%s Skelly Of1 6% ¥ South Bell Tel 5 Southwest Bell . & 19 102% 102 6 96 96 100% 9674 97ty 101% 101% 4 103% Low. Close. 9911 10027 100 30 1012 9914 9914 9916 9924 107 1 105% 109% 107 116% 110 75 20 102% 2% 74 5615 92 100% 103 89 8914 101% 111% 18% 100 100% * yajy o7 alue. 931y 104 Sales. Low. Close. I Tenn Elec Pow 634 3 Tex Corp cv 55 1944 12 United Drug 6s 63 J S Rub Istrf 1 8 Rub 148 Warner Sug 7s 41. West Elec bs. o Westn Union 6s 51. Weetn Unton 6%s. . White Fagle O 5%.. Wickw Spen 1st Willys-Ov 618 33 Wilson & Co 1st Younzstn S& T 2 8 Atchison gen 4 Atch deb 4%s Atlantic CL 1st B & O Gold 4s. pa B& O SW 68 60. Brdway & Tth A Boston & Maine 68 Bklyn Manhat Bklyn Un El Bush Term con b Can Nat 4%s 64. Can Nat 4%4 57. Can Nat 4% 6! Canada Natl §s. Can Nor 78. . Can Pac deb 48 Can Pac 4%s 4 Can Pac 58 '44 ret » o whnBanerhont nuanneHp=aRe CM&StPGen89.. Chi MIISP&Pac5s75 CMSP&Pac adj5s03 Chi&NW 4% 3 1987 i CCCRStL4%sE . Colo & Sou 4% Cuba Nor 5345 cti Cuba R R §s. Del & Hud 1st rf 4s. Del & Hud 7s 30. Den & Rio G en 4 Den&R10G 4153 D Rio G West 6s. ... DR G & Wst 65 78 Det United 4%s. EastTenn Va&Ga b8 Erie conv 4 Erie Gen 9214 94% 93 87% 96 285 1028, 824 80 95% 101% 101 504 104% 1097 96 967 103% 1084 i 110 1% 96% 87% 98 Erie (Pa) clt tr Fla EastC6s 7 Gr Trunk st db Grand Trunk 7 Gt Nord%s 7l Gt Nor 448 E. 50% 104% 109% 965 96% 103% 1084 110% 774 Hud&Man ref 5 96% 111 Cent 43 63. . Int Rapld Trans 6. Int Rap Tr 68 stpd. Int Rapld Trans Int &G Nor ad{ 65§ Towa Cent 1st 5 Kan City S 38, Kan City Ft 8 4 Kan City Term 4 Lehi Val en 4 . Loufs & Nash 7s. ... Mill El Ry&Lt 4%8 MI1 El Ry & L 63 61 Minn & StL ref 4s. . MStP&SSM5s38gta 1 Mo Pacific gen Mo Pac 6s A 65 Mo Pa o 78.... Mo Pac5%s 49 evt. Man Ry 1st 48 90... Nat Ry Mex 48 77.. Nat. Ry. Mex. 4%s &SILE%sA. & SIL6sA..,. » o Nor Pac 38 2047 Nor Pac 4 Nor Pac 5. Nor Pac rf Ore Short L 6s gtd. Penna ken 4 48.... Penna 4% €3... Penna 6%s. Penna gold Pere Mar 1st Pere Marq 1st §s. Port El P L 6s. - Port RL& P 6s 42., Reading gen 4348 A R10G Westcl 4 StI, IM&S gn 6 10014 9014 103% 9614 95% StL &S For In bs. StLS W Ist 4s. StL'S Wbs52.... San A & Arn P Seab AL ref 4s. Sou Pac ref 4 . Sou Pac 4%4srets. . Sou Pac 4% 69 ww Sou Ry en i Sou Rv 614n Sou Ry Mo & O TFex Ark F'S 638 60 Tex & Pac bs B 1977 Tex & Pac 58 C 79, Third Ave ad! bs. Tol Tr L&P b3%s 30 Union Pac 4s 68. Union Pae 15t rf Virginia Ry VY Ry & P6s, Wabash 1st 63 Wabash 24 §; West Pacific 6 28 RECEIVERSHIP IS ASKED FOR BROKERAGE HOUSE | DETROIT, December 24 (F).—A vol- untary petition for the dissolution of Backus, Fordon & Co., Detroit stock brokers, and the appointment of a re. ceiver, ‘was filed in Circult Court here | today. | The petition states that because of | the recent drop of the stock market, many of the company's customers ar. junable to pay their accounts at this time, “as a result of which it is found difficult and almost impossible to meet cbligaticns, thereby endangering the security and interest of the creditors 1041 100% 101 103 98 100% 1011% 103 93 100% 101% 103 and stockholders of the corporation.” ‘The petition says the property of the corporation consists meinly of stocks, bonds, securities and customers' ac- " 'cmlnts and that it has valuable good will and intangible assets, which “if ipreserved may be of very substantial | Eyes act at the same time as a mi- | croscope for near-by vision, es an ad- | NO CREDIT MENACE Movement of Metal Abroad Expected to Aid Euro- pean Industries. BY JOHN F. SINCLMR, Spectal Dispatch to The Star. NEW YORK, December 24.—Gold is leaving the country—plenty of it. Since November 1 the United States has sent out $85,000,000. This loss has had no effect on tightening credit yet. The movement, however, is much heavier than was anticipated. It was expect- ed that some gold would leave the country, perhaps $300,000,000 becfore June 1. With a fourth of that amount already lost. The total before the out- ward movement is over may exceed that figure. But this is not a distressing situa- tion. To the student who understands it, it is a very helpful fatcor. Some seem amxious over it because of its tendency to.cause contraction of credit at a time when easy credit is needed. But we are a long way from that point today. No one need fear credit-strin- gency because of any gold export which has taken place or which is likely to take place in the next six months. European business needs the gold today—far more than the United States needs it. A prosperous Europe reacts and makes a prosperous American foreign trade. ‘The one aids the other. No nation can live unto itself any longer. FEurope needs the gold which we can well afford to spare The transaction is mutually helpful and profitable, The committee appointed by Presi- dent Hoover to investigate the changes resulting from modern living condi- tions is expected to begin its work in January. The work of the comumittee will cover the general mental and phy- sical health of the country, family life, increased leisure, women in industry and-allied problems. ‘The personnel of the committee in- dicate the importance of the work. It is headed by Wesley P, Mitchell of Co- lumbia University, authority on busi- ness cycles. The other members are Charles E. Meriam of the University of Chicago, Willlam F. Ogburn, pro- fessor of sociology of the University of North Carolina, and Shelby M. Harris of the Russell Sage Foundation. The committee will investigate the maladjustments of society, and the methods created to meet them; also questions of public health, old-age pen- sions and kindred subjects. Prof. Mitchell when asked about the matter, said that he believed that “a study of divorce will probably be in- cluded as well as the whole approach to education.” The work is to be financed by the Rockefeller Foundation, and the work is expected to take months, if not years, to complete, Jan Christian Smuts, the South Af- rican general who fought against.the British in the Boer War of 1898 and who fought with the British in the last Great War, sails today from England for a visit to the United States. The former prime minister of South Africa, who probably next to Oecil Rhodes has had a greater influence on the life of South Africa than any other man, was educated at Cambridge Uni- versity, England, and became at 28 state's attorney in South Africa under President Kruger. His speeches in England after the war, and in South Africa during the war, probably did as much to help the British cause as those of any other man. ‘While his career has been mostly polit- ical, he is known as an unusually ca- pable student of international business and finance. His visit to the United States will give the Americans an opportunity to meet and see one of the world's most distin- guished statesmen. (Copyright, 1929, by North American News- T_Alliance.) Baltimore Markets Speclal Dispatch to The Star. BALTIMORE, Md., December 24.— Potatoes, white, barrel, 1.50a4.00; 100 pounds, 1.75a2.50; sweet potatoes, bar- rel, 1.50a2.75; yams, barrel, 2.00a2.7! beets, crate, 3.5 brussels sprouf quart, 10a25; beans, hamper, 1.75a3.25; cabbage, hamper, 30a50; carrots, 100, . X caulifiower, crate, 2.25a2.50: celery, crate, 1.75a3.75; eggplant, crate, 2.00a3.50; lettuce, basket, 2.00a2.50; kale, bushel, 40a50; onions, 100 pounds, 1.75a2.00; peppers, crate, 4.0085.50; parsnips, basket, 50a65; pumpkins, 100, 5.00a15.00; spinach, bushel, 60a squash, crate, 2.25a3.50; tomatoes, crat?, 2.50a6.00; turnips, hamper, 25a 35; apples, bushel, 75a2.25; cranberries, box, 3.25a5.00; grapefruit, box, 3.50a4.50 oranges. box, 2.10a4.00; tangerines, box, | 1.25a3 75. Dairy Market. Poultry, dressed — Turkeys, fair to fancy, - pound, 36a38; old and crooked breasts, 25a28; young chickens, 24a25; old and mixed, 23a24; ducks, 22a25; geese, 21a25. Poultry, alive—Turkeys, pound, 35a 38; old toms, 25a28; Spring chickens, 20a25; Leghorns, 18a20; poor and thin, 17a18; old roosters, 18; ducks, 16a2: geese, 16a25; guinea fowls, each, 40a6 pigeons, pair, 25. o Eggs—Receipts, 517 cases; native and nearby firsts, 54a56: pullets, 45a4i hennery whites, first, 56a58; current re- ceipts, 43a45; culls and dirty eggs, 25a30. i Butter—Good and fancy creamery, pound, 41a46: ladles, 35a36; _store packed, 21; rolls, 31a32; process, 38a39. Live Stock Market. Cattle—Receipts, 50 head; fair sup- ply: market steady. Steers—Choice to prime, none; good to choice, 12.25a12.50; mediim to good, 11.25a12.25; fair to medium, 10.25a11.25; plain to fair, 9.25a10.25; common to plain, 8.25a9.25. \ Bulls—Good to prime, none; good to choice, 8.50a9.00; medium to good; 7.50 a8.50; fair to medium, 7.00a7.50; plain to fair, 6.00a7.00; common to plain, 5.0026.00. to choice, 8.50a9.00: medium to good, 7.50a8.25; fair to medium, 6.7527.25; plain to fair, 5.50a26.50; common to plain, 4.00a5.00. Heifers—Choice to prime, none; good to choice, 10.00a10.50; medium to good, 9.00a10.00; fair to medium, 8.0029.00; plain to fair, 7.00a8.00; common to plain, 6.00a7.00. slsF‘;'c!h cows and Springers, $60 to Sheep and lambs—Receipts, 25 head; moderate supply; market steady. Sheep, 2.00a6.00; lambs, 6.50a14.50. Hogs—Receipts, 200 head; light sup- ply; market higher. Lights, 10.30a10.75 heavies, 10.10a10.50; medium, 10.30a 10.55; roughs, 7.50a9.35; light pigs, 10.00 a10.30; pigs, 10.10a10.60. Calves—Receipts, 25 head: moderate up%ly; market steady. Calvcs, 7.00a 15.00. Fay and Grain Prices. ‘Wheatl--No. 2 red Winter, spot, 1.28% ; {0, 2 red Winter, garlicky, spot, 1.26%, ; Do r, 1.26%;; January, 1.27; No. no quotations. No, 2 domestic, vellow, new, corn, new 4.60a4.75. Oats—No. 2 w] domestic, spot, 56a 562; No. 3 white dom Rye—Nearby, 90a1.00. Hay—Receipts, nonc. Season for old hay is about over. A little new crop is “arriving, but harcly enough upon which to establish qu ions by grades. Where in good order new hays sells at from 14.00a17.00 per ton, according to its quality and condition, receipts by truck taking care of most requirements. Straw—Little demand for straw. Re- ceipts generaliy ample. Wheat stray, e, spot, 55. 102% Justable telescope for long distances and | No. 1, per ton, 9.00a10.00; oat straw, 96% 8s a pho camera. No. 1, per ton, 9.00a10. D. C, Florida Skipper Dives After Fish When Line Breaks | _ MIAMI, Fla, December 20 (). ‘When Capt. D. Samsoe of the dee; ‘ sea fishing fleet pilots a crew of anglers, he believes in giving service. A 300-pound jew fish broke away from the line of Mrs. A. Cannanzie, ‘Winter visitor from Arlington, Mass., yesterday. Capt. Samsoe leaped overboard, gaffed the fish and towed it back to the boat. Eight witnesses aboard the boat affirmed that the tale was not a common everyday fish story. Washington Ticker BY CLINTON COFFIN, Associated Press Financial Writer. Plans for expending during 1930 for new equipment a total of $42,500,000 were announced here today by J. J. Bernet, president of the Chesapeake & Ohio Railroad and its subsidiaries, the Pere Marquette and Hocking Valley Lines, The amount—considerably in excess of like expenditures during 1929 —has been approved by the directors of the systems partly as a contribu- tion to President Hoover's program for business stimulation. It also repre- sents, however, provision of new and heavier rolling stock, designed for heavier loads and less frequent fuel and water stops for engines, and in- dicates that the calculations of oper- ators of one of the more prosperous and extensive Eastern rail systems are based on anticipations of marked increase in traffic volume next year. It was also understood in connec- tion with the announcement that the other two roads of the Van Sweringen group, the Nickel Plate and the Erie, would shortly announce equipment pur- chase budgets for 1930 that, added to the Chesapeake & Ohio expenditure, will make a total of around $100,000,000. Financial arrangements are tentatively complete for meeting the entire cost. In its portion of the outlay the | Chesapeake & Ohlo system proper will jobtain 130 new locomotives, 11,350 freight train cars of various descrip- tions, and 301 items of passenger train equipment, including 41 steel coaches. The freight equipment items are made up in part of 3,000 coal cars, and 2,00 50-ton steel box cars, Be number of engine water tank cars of increased size to reduce stops for water in_running. New rolling stock to be bought for the Pere Marquette provides 3,750 new freight cars, among which are 2,250 of special design for automobile and furniture shipment. There will be also provided for that road 15 new switch engines, and 15 of the engine tank | cars of larger size to lengthen runs and | reduce stops, 1,000 gondola cars, and various passenger train and special service vehicles. To the Hocking Val- ley equipment will be added 40 engines and 1500 freight cars, with a small number of passenger coaches, The increased expenditure of the | Chesapeake & Ohio and its subsidiaries on equipment, it is explained by sys- tem officers, represents a step in a gen- eral program instituted by President Bernet for expediting train movement over all its main lines. This entails the displacement of old and lighter rolling stock at a somewhat earlier date than has been called for by operating estimates previously obtaining, and brings considerable extra buying into next year instead of into later periods. ‘When Alvan MacAuley, ident of the National Automobile Chamber of Commerce, assured President Hoover's business conference in Washington this month that the automobile indust: would “never be down far nor for long” he had very good grounds for the state- ment, it now appears. Reports from a variety of quarters confirm the impres- sion that the Michigan automobile srea saw the low int of activity during November, and has recovered some o its higher output levels already. “A number of the plants, including the most hnmmnt ones making lower riced cars, have been gradually speed- ing up production after the November slow-down,” said L. C. Probert, vice president of the Pere Marquette, a rail- ;‘ond r&y!:em who;e ":Tc v:a}l,ume ‘m important degree depends on_the auto- mobile plant operations. “Our traffic has begun to register marked improve- ment from this source, at a somewhat earlier date than we had expected. “As is natural, automobile accessory plants have picked up activity as well. ‘The general outlook is already consider- ably improved.” carrying airlines which got under way in the United State in recent months are not attempting to disguise the fact that their chief obstacle in endeavors to build up business is in the public fear of accident. The continuous effort to trace out a cause for every disaster in flying, that it may be remedied, and for the provision of new safeguards, is | not being abandoned. “Our volume of travel is now averag- ing probably 26 per cent of capacity,” Paul Henderson, vice president of | ‘Transcontinental Air Transport, which operates coast-to-coast service, observed, “and my impression is that a part of the ebb in business is traceable to feel- ing aroused by recent crashes. Un- questionably, these have an effect.” In spite of the deficits now encoun- tered in operations, the Transconti- nental company is :till working on ten- tative plans for increasing local air service through the central part of the country it traverses. A decision upon these projects will probably be made in January. ‘Whatever may have been the indi- vidual experience of speculators who were in the stock market last month, it is certain that the United States Government came out ahead. This is revealed by the Treasury Department’s detailed statistics of internal revenue collected in November. The stamp tax on stock sales, ordinarily a minor item in Government receipts, brought in for the month $5,727,900, by far the great- est amount ever pald in during any monthly period. The principal source of these con- tributions to the expense of running the Government is the levy ranging from 10 cents to $4 on each hundred shares of stock sold on any exchange the amount being determined by the par value of the securities entering the transaction. Since the beginning of the Government’s fiscal year last; July, the income from this stamp tax, has been $22,504,000, or almost twice ! as much as the $11,960,000 collected from the same impost during the like period last year. It is probably safe to say that the Federal budget calcu- lators will not estimate for a repetition of a sum like this from the stock ex- change operations very soon, because it represents a by-product of the great- est speculative "boom that has ever passed into history, and experience shows that those things do not repeat rapidly. | RAILROAD TRAFFIC. } | By the Assoctated Press. Volume of trafic on American rail- | roads, though continuing to show sea- <onal shrinkage, is not dropping so fast during December as it did in Novem- 1 ber, 'The American Railway Association | | report today on car-loadings disclosed | | that cor-lcadings for the week of De- | cember 14, which together with total for comparable periods follow, were within 13,000 of the loadings for the previous week. In November declines i from the previous week have ranged up to 40,000 cars. Week ending December 14, 923,240 cars; preceding week, 936, 825 cars; same week last year, 963,663 cars. CALLS COPPER PRICE FAIR. NEW_YORK, December 24 (). — Walter Douglas, president of the Phelps- Dodge Corporation, says that 18 cents a pound for copper is a fair and reac sonable price, consistent with produc- enal tion costs and enabling . Ry Pproducers to Executives of the extensive passenger- | 8 TUESDAY, DECEMBER 24, 1929. ITRADING IMPROVES [LARGER MAIL BOX ATD.C. MARKET Better Weather Brings Out Number of Buyers—Sup- plies Are Large. Clear weather this morning resulted in bringing out increased patrons of the local markets, yesterday’s miserable weather having kept hundreds of .them at home. Christmas trees, holly and other Christmas greens, covered with snow and ice yesterday, when sales were slow, were in greater demand this morning. So heavy were receipts of trees and other holiday greens that prices covered a_wide range, gome from the country being anxious to get rid of supplies at low prices. “But_there will be plenty on hand when the market closes,” observed a dealer, “and the market district tomor- ro:v hould look like a devastated for- st Pouliry Sales. Poultry dealers this morning felt cer- tain they would be able to clean up re- ceipts before the close of the holiday market, and among the wholesalers it was said very few places will be open tomorrow morning for buyers. “When we are stuck,” said a dealer, “wz open up on holidays, but when we clean up there is no reason for open- ing.” ‘Wholesale dealers this morning re- ported prices quoted yesterday, but in some instances, according to reports, certain retallers boosted the price to around 60 cents. 2 “It really is a 50-cent market,” a dealer commented. Chain_stores continued to sell at 39 cents, while at least one dealer dropped to 38 cents. The 38-cent stock was not of the choicest quality, it was stated, but they were not culls. Chicken prices also continued higher than last week. Most of the retailers had obtained their supplies yesterday, but a number were in evidence in the cor lon house district this morning. Fruits and vegetables continued plentiful and reasonable, dealers re- ported, celery and cranberries being best sellers. Some fine quality Lima beans reached the market this morning from Cuba and California too late for the day’s market. Prices of most commodities today were about the same as prices quoted yesterday. Today's Wholesale Prices—Jobbers’ Prices Slightly Higher. Butter—One-pound prints, 41%,8421%; tub, 40%5a41%%; store-packed, 30a32. Eggs—Hennery, 55a58; fresh selected, 53a54; current receipts, 48a50. Poultry, alive—Turkeys, young, 32a 33; old, 27; Spring chicl 30; medium, 28a30; broilers, fowls, 27a28; Leghorns, 20a22; roosters, 20; ducks, 15a18. Dressed—Turkeys, young hens and toms, 37a40; old, 32a33; Spring chickens, large, 35a36; medium, 35a36; broilers, 38a40; fowls, 33a34; Leghorns, 26a27; ducks, 28a30; roosters, 23a25; capons, 35a40; keats, 50a60. Meats—Beef, 20a22; veal 24a26; lamb, 24a27; pork loins, 22a25; fresh hams, 20a22; fresh shoulders, 19a22; 6; smoked shoulders, i , ; lard, in bulk, 12a 13; in packages, 13al4. Live stock—Calves, 14; lambs, 12%5a13. GLASS MOTOR MASCOTS ARE USED IN EUROPE Lighted From Inside, They Add Color to Car—Lord Byng Has “Dragon Fly.” MADRID (N.AN.A.).—Prince Jaimie has a wonderful collection of glass mo- tor mascots., They can all be lighted from the inside and their colors are hanged by means of . His fa- vorite is called the “Spirit of the Wind, of Egyptian inspiration; this he carries on his own car. Others in his pos- session are called the “Comets,” the “Dragon Fly” and the “Hawk.” Rene Lalique, who fashions these glass mascots, is 76 years old. His works are becoming popular in London, where Lord Byng's car is illuminated by light that stre: ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St. & La. Ave. N.W. 63rd Issue of Stock Now Open for Subscription Shares of Stock, $1.00 Each Payable Monthly James E. Connelly James F. Shea President Secretary First Trust Notes Now Available 6% JAMES F. SHEA Continental Trus‘t Co. 14th and H Streets Capital, $1,000,000.00 Checking Accounts Savings Accounts Acceptance Cre; Time Deposits Foreign Exchanges Commercial Credits Travelers’ Credits Travelers’ Cheques Collections Real Estate Loans Collateral Loans Investment Securities Corporate Trusts Administrator, Executor Safe Deposit Boxes Continental Trust Co. 14th and H Streets WADE H. COOPER, President Capital, $1,000,000.00 , 28a 30a32; | ¥ T PINANOMAD, Trades Planes for Autos. If you wish to trade in your auto- Mfle!or-ll'htnrghne lndl:::l!l car to take you to the airdrome you may do so in London in the same way you trade in an old machine for a new one. An automobile concern which has & line of airplanes prom! complete service for both planes l’:fl' It is buud;nl unh'r"l: airdrome Croydon, where maintain instructors to teach clients |5 NEW INVENTION Article Inspired by Seeing Untily Receptacles Along Routes by Farms. . First Mortgage By the Associated Press. NEW YORK, December 324.—The latest contribution to farm relief is an oversize mail box. It won't relieve the farmer from trot- ting down to the crossroads to get the letters and papers, but it will save on hultpmnknlty ;hzn h‘an. fl;‘: hl’a plzrcg ckage ad o m rg.ln, ‘v‘mh th:y blue from og':nlls merging into the white chiffon dress ordered by the wife. Observed Old Boxes. Col. Joseph C. Bonner, inventor and manufacturer, of Toledo had the in- spiration last Summer, when on a tour he noticed clusters of unsightly gal- vanized iron mail boxes at crossroads here and there with parcels too large for them on the ground. & ‘Whereupon Col. Bonner invented his box and went to Washington to see the Postmaster General, Walter F. Brown, whom he had known all his life. ‘The Post Office Department author- ized trial of the new box at Bolles Har- bor, Mich.,, where lives Mrs. William Bolles, daughter of Col. Bonner. The device was scheduled to be put into use November 7, and the postmaster at Monroe, Mich., was instructed to report on_the experiment. ‘The new box is designed for the crossrdads use of 15 persons or families. 1t looks like an elongated phonograph cabinet. On the right side are 15 pig- eonholes for mail, and each box renter has his private key. ‘Will Hold Parcels. On the left side is a compartment for parcels. It will take articles “f to 90| inches long, anything from a pitchfork handle to a singletree. Col. Bonner believes his malil box, if adopted over the country by the Gov- ernment, would reduce the postal deficit by the rental from those using it. And it would, he says, add immeasurably to the beauty of the countryside. ZINC FIRM SUED. Missouri-Kansas’ Assets Declared $750.000, Liabilities $1,260,000. NEW, YORK, Deosmber 24 ()—An | Loan Applications Invited Glover & Flather o 1508 H St. N.W. National 1753 First Mortgage Notes Poseatie, conservative, invest- ment of your funds... the safe, convenient security that is the first choice of the experienced investor. . We will gladly tell you more of the 6% notes now available ' + H. L. Rust Company 1001 15th Street N. W. National 8100 Eerabliched 1889 estimated at $1,260,000, and assets at 750,000, The petitioners are Benjamin Graham, who claims $2,564.04; Margaret 10'!. Ryan, $900, and Ray Stricks, $1,282.- 3 £ R Every Chief Justice, from John Mar- shall (1755-1835), to Edward D. White (1845-1921), predecessor of Taft, has died in office. Money to Loan g gt i Joselsi biae: TRUSTEED SHARES The IDEAL INVESTMENT for in. k7 who _ demand — SAFETY, nd GROWTH of principal. sujted to long-term in- yvestments ~ for _individuals, trust funds and funds of organizations, Sold in Lots—$100.00 Up all or Write Standard Collateral Shares Corporation Woodward Buildis Met. 8783. Investing January Funds Make your plans be sure that those plans call for a liberal invest- ment in our 6% First Trust Notes. They mean Guaran- teed Income, Get the facts. ‘The Board of Directors has declared the following quarterly dividends: Stock—$1.75 Participating Preference share ble February 1, 1930, to mdui of ::::‘d December 31, 1929. $6 Preferred Stock—$150 per share Nattoal ‘payable March 1, 1930, to holders of record 2076 January 31, 1930, $7 Preferred Stock—$1.75 share payable March 1, 1930, to holdm‘e;l record January 31, 1930, $5 Prior Preferred Stock—$1.25 per share payable April 1, 1930, to holders of record February 28, 1930. T. W. MOFFAT, 61 Broadway, New York. ‘Treasurer. ‘ Capital & Surplus $3,500,000.00 T A Christmas Bonus in Your Stocki —ought to mean more than just so much extra cash to “blow in.” Deposited in this strong old bank, it'll draw steady interest, ferming a starter for a real “nest egg.” National Savings & Trust Co. The Oldest Savings Institution In the District of Columbia Cor. 15th and New York Ave. B. KEECH & COMPANY Members of New York Cotton Exchange New Orleans Cotton Liverpool Cotton Exchange, Ltd. (Assoo. Members) Bremen Cotton Exchange (Assco. Members) Winnipeg Grain Exchange Chicago Board of Trade N. ¥. Coffee & Sugar Exchange, Inc. Rubber Exchange of N. Y., Inc. New York Stock Exchange ‘Washington Stock Exchange New York Curb Market Chicago Stock Exchange COTTON Special attention given to spinners’ requirements and the execution of orders for Future Delivery on all Cotton Exchanges of the world. Out Cotton Department is directed by Edward M. Weld and Bulkeley L. Wells, formerly partners of Stephen M. Weld & Co. J. W. Ray and J. B. Gordon, crop reporters covering the entire cotton belt, now also exclusively serve the clients of this department. We maintain direct Pprivate wires to all markets. H CORNER 17TH ST., N. W,, WASHINGTON NEW YORK PR PR rrovideNce.