Evening Star Newspaper, December 26, 1929, Page 14

14 -#olok® TS FIN AN CIA L, 7= swrymwwres YEAR-END DIVIDEND PAYMENTS LARGE Washington Firms Distribute Generous Share of Earn- ings to Stockholders. BY EDWARD C. STONE. Local investors are about to be flood- ed with dividend payments and enjoy | one of the largest harvests of this kind the city has known. A large percentage of the local banks are paying regular and extra dividends in the next few days and fully half of the other local securities are taking the same action. In addition to this Ncveral local bonds are also due to make semi-annual interest payments. Furthermore, the dividends which in- vestors will receive from local securi- ties are only a comparatively small part of the total they will get around the first of the year, as a host of the big- gest corporations in the country are to make dividend payments in the next few days. It has been stated in Wall | Street that interest and dividend dis- bursements due at this time may run as high as $2,000,000,000. Exchange Lists Dividends. Among the stocks listed on the lo- cal exchange soon to pay dividends are American Telephone & Telegraph, Cap- ital Traction, Norfolk & Washington Steamboat Co., National Capital Bank, Commercial National, District Nation: Federal-American, Liberty National, Second National, Lincoln National, Con- tinental Trust, National Bank of Wash- ington, Merchants’ Bank & Trust Co., Union Trust Co., Bank of Bethesda, Bank of Commerce & Savings and Po- tomac Savings. 3lher bnnzks have voted divldrnds‘ which will be paid around the middle | of January. The list also shows divi- | dends due from the Piremen's Insur-| ance Co. and the National Union In- surance Co., also from the Columbia Title Insurance Co. and from the Real tate Insurance Co. Es11"1"“1! miscellaneous stock list divi- dends will be paid in a few days on Co- lumbia Sand & Gravel preferred, Com- mercial National Co. preferred, District National Securities preferred, Federal- American Co. common and preferred, Lanston Monotype, Merchants’ Trans- fer & Storage preferred and common. Mergenthaler Linotype pays a divi- dend soon, likewise Security Storage Co. and the Carpel Corporation. Peoples Drug Stores preferred paid a dividend only last week. In the unlisted depart- ment a number of local issues are also | 121% 199 Individual Sales of each Stock 1920— Stock ana Salt Dividend Rate. ADItibi P & P pf(8). Abraham Strai . Adams Express1.60) Advance Rumley. .. Advance Rumley pf. 4 ' Ahumada Lead..... 116 Ailr Reductn (14%).. Alr Wal El Ap(2%) 1% Ajax Rubber. 3 33 4 Alleghany Corp. 118% 90 Alleg Corp pf (6%).. 854% 197 Allied Ch & Dye (c6) 75% 35% Allis-Chalmers (3).. 73 20 Ly 17% Amerada Corp (2). Am gricul Chem Am Agricul Ch pf. Am Bank Note(f13). 5% Am Beet Sugar...... 27 Am Bosch Magneto. . 4% Am Brown Bov Elec. 86 Amer Can (15). 75 Am Car & Fdy (6) 70% Am Chain pf (7)... 27 Am Chicle (12%) 20 Am Com Alco(c 18% Am Encaustic (2) 23 Am European Sec. 50 Am & For Power.... 17% Am Hawailan S S (2) Am Home Prod 4.20.. American Ice (3).... Am lce ot (6). 2915 Am Internat (32). » » - & BEeRRNBEamAnxamo~tBaantasRenes 1 57 Add 00. High. 1 THE 76 7 51 26 13% 23 b 50 1181 W 6% T2% 1101% 101% 1 29% 12% Am Republics....... 60 Am Roll Mill (¢2)... 19 Am Seating (2)...... 44 Am Safety Razor(5). 62 AmSm & Ref (4). 310% 23215 160 Am Tobacco (110). . 235 Am Tobaceo B (110) 114% Am Tobaceo pt (6). .- 50 Am Water Wks (c1) 5% Am Woolen. lgv. Am Woolen pf. 27% 67% Anaconda 25 30 Andes Copper (3). 18% Archer-Dan-M (3) 75 Armour Del pf (7). 5% Armour Ill (A) As80 Dry G (23%)... 298% 1954 Atch T & S Fe (10).. 209% 161 Atl Coast Line (110). 86% 32% AtIG & W Indies. helping to swell the year-end dividend 1 % .‘ In connection with the bank surprise by voting an 8 per cent return on the stock. Regular and Extra Declared. ‘The directors of the National Bank of ‘Washington at the regular meeting ‘Tuesday declared the usual semi-annual dividend of 6 per cent and also voted an extra disbursement of 1 per cent, both payable January 2, 1930, to stockhold- ers of record December 31. The bank is just rounding out its lgm.h y:ll: ng oglll;‘r;plyofled that the past year has been hig] per- ous, and the directors proceededwt:. vote a half month's salary as an additional Christmas compensation to all the em- ployes of the institution. Metropolitan Has Christmas Party. The National Metropolitan Bank had the usual Christmas party in the lobby ‘Tuesday afternoon, attended by all the employes and officers of the bank. There were several musical selections, but the tree was the big event. Charles L. Taylor, who has played Santa Claus for the past 12 years, ar- rived on time from the North and ofi- ciated in a brilliant manner. have grown the best one yet. President ‘White was delighted with his gifts, as w&mmmnmdmmo!m staff. Trading Quiet on D. C. Exchange. Washington Biott Exchange Lo, ths tock Excl today, ex-dividend quotation being the same as the last sale. Potomac Electric Power 6 per cent ppreferred came out at 10912 and the 51, pe']r cent issue registered 1045, on light sales. Ten shares of Riggs National sold at 530 and three of American Security & ‘Trust moved at 435. Columbia Na- tional sold at 401 ex-dividend. Heard in Financial District. G. Bowie Chipman, resident E:mer of Harriman & Co., announces that the brokerage firm presented all the em- ployes with a Christmas bonus of 15 per cent of their year's salaries. ‘W. W. Spaid, partner in W. B. Hibbs & Co., has returned from several days spent at Atlantic City, where he went o rest. President Robert V. Fleming of the Riggs National Bank was on a duck- hunting trip today in Southern Mary- l;ad. being the guest of H. Rosier Du- v. The District of Columbia Bankers" Association council of administration meets tomorrow to settle on the next Piace of holding the annual convention. Tae Color of Water. A glass of pure water, whether it be fresh or sea water, is invariably color- less, yet in bulk it apparently varies in a singularly strange and remark- eble manner. The ever-changing colors of the ocean, especially, are most strik- ing and beautiful, but the same is also true of many lakes and rivers in this country and Europe.” The water of Lake Tahoe, on the eastern border of California. is generally seen to be a beautiful blue. The only exception is ‘when the sky is overcast and then the color of the water is gray. The Detroit River is at times a beautiful blue. ‘What is commonly regarded as the most striking instance to be seen in the ‘whole world of the wondrous apparent coloring of bodies of water is the mar- velously beautiful “Blue Lake” in Switzerland. Encompassed on all sides by lofty mountains, their lower ranges luxuriantly clothed with verdure down 1o the edge of the water, and adorned with many fine forest trees, while their ‘higher acclivities are garbed in a mantle of eternal snow, the little lake, nestling in its deep hollow basin, and protected from winds and storms. is quite startling in_its singular beauty. The water, although really pure and ! appears to be of a most vivid end intense sky blue. Farmer Tenants of Japan. Disputes between landlord and ten- ant seem to be a little more prevalent in Japan than elsewhere, but as in most other counu'w‘g ;he n;lm:m- of these disagreements lependent upon circumstances. As disgruntled tenants as a rule are not enabled to accomplish much individually, they have organ- ized for the purpose of refusing to pay rents, selling the products which ‘were bound to hand over to the land- Jords as part of the rent, raising a » 09 00 05 M 19 00 O 1T 1 I RO 00 1S 1S o a8 66% 15 Baldwin Loco (1.75). 145% 125 Baltimore & Ohlo (T) 49% 118% 32% 131 101 17% 104% Bayuk Cigars (3). 13% Beacon Ofl.......... 69 Beatrice Cream (4).. 45 Beechnut Pkg (c3).. 4% Belding-Heminway.. 25 Bendix Aviation (2). 60% 25 Best& Company, 140% 78% Bethlehem Steel (6). 128 116% Bethlehem St pf (7). 61% 24% Bloomingdale Bros.. 186% 37 Bohn Alumn&B (15). 9% 70 Bon Ami, A (6. 11% 3 Booth Fisherie 100% 53 Borden Co (k3) 86% 26 Borg Warner (: 15% 21 Botany Con M (A 63% 84 Briggs Mfg 43% 17% Briggs&Strai ). 6% 1% British Empire Stee] 13% 3% ara M 7100 €9 00 10 w31 1 82 10 G 08 ek O i S RS B9 D 3% British Em St 2d pf. 14 Brockway M T (3)... 40 Bklyn-Manhat (4)... 99 Bklyn Union Gas (5) 16% Bruns-Balk-Col(. 4% BrunsTer & Ry 8. 14 Bucyrus Erfe (1).... 26% Bucyrusevpf (2%4).. 8% Budd (EG) (t1%) 8 Budd Wheel (1). 21% Bulova Watch (3)... 88 Burns BrosA (3).... 29 Burroughs AM(11.80 31% Bush Term (x2). 2 Butte Cop &2 (50¢). 4% Butte & Superior (2) 18 Butterick Co... - 63% Calif Packing (4. 73'% Calumet & Ariz (10). 25 Calumet & Hec (434) 19% Campbell Wyant (3). 45 Canada Dry G A (5). 8% 136% 61% 49% 98% 265% 48% 65% 467 130 Case (J 1) (6)....... 61 50% Caterpillar Trae (3). 42! 6% Cavanagh-Dobbas. Celotex (3)......... 21 Cent Aguirre As1%. 27% Cant Alloy Steel (3). 3 Century Rib M1 11 Certain-teed Prod. 18 Checker Cab (4.20) 160 Ches & Ohio (10).... 42% Chesapeake Corp (3) 3% Chi& Alton pt. 25 Chi& EastIll. 80% 27T9% 75 Chicago & N W (6).. 21% Chi Pneu Tool. > 143% 101 Chi RI1& Pao (7). 50 25% Chickasha COfl (3) 135 26 Chrysler Corp (3)... 1 62% 39% City Jce & F (k3.60). 27 7% City Stores (1) 61% 26 Clark Equipment (3) 72% 34% Cluett Peabody (5).. Collins & Atk o (T).. 27% Colo Fuel & Iron 99% ColGas& Elpnf A 6). 8% 16 Columb Graph(87c). 105 Columblan Carb(16). 18 Com Credit i2)....., 28 Comm Credit A (3)., 28% Coml Inv Tr (£1.60) 4) 10 Commé&So(b5s%stk). 35 Conde Nast Pub (2).. 15% Consol Film pf (3). 80% Consol Gas. NY (4). 92% Consol Gas,NY pf(§) Consol Textile. s Contatner Corp Centl Can (2%) 3 Contl Dia Fiber (2% Contl Insur (2.40). .. Contl Motors (30¢).. Cont! Ofl of Del.. Contl Shares (1). Corn Prod Refin (t4) Coty Inc (2)....... Cream of Wht(12%) Crex Carpet. « Crucible Steel (k5 Cudaby Packing (4). Curtis Publish (17).. Curtis Publ 37% 13% Curt WrightCorp A, 31 121% 58 2 ind for the help of peasants in con- vith landlords and indulging in e cultivation and collective s for the purpoce of post- tic payment of taacs. 69% 21% 467 226 Delaw. Hud 9). 169% 120% Del Lack& W (17).0 . 3 228 76% 18 6 15 36% 14% 38 23% a1 84 23 113% 1 254 3314 6% 105% A 25 160 51 25% compiled to 1:30 p.m. es— 3814 200% 201% 62 62 13% 25% 3614 43 10% 105% 27% 1674 2% 22% 31% 3% 101y 90 27% 105 12 48 13% . % 14 6% 8% 78 28 20 165 138 138 31% i 1% 4T% 10 115% 112% 116% 112 115 7% 16% 13% 16K 8% 288 204 2 165 138 1T 114% 2814 23 165% % EVENING —Prev High, w. Close. Close. | 385 6 76 1Th| 3914 264% 403 11% 153% 116 39% 2% 53 51% 314 66% 16 58% 144 2% 154% 108% 18 45 115% 82 59 63 5914 114% 255% 24 397 6% 21 287 123% 43% 102 100% 674% 118% l.l"/n 1929~ Low, 151 Stock ana Dividend Rate. Detroit Edison (8 Devne & Ray A (13). Sales— A2d 00. High. 10 203 Drug Corpn (4).. Dunhill Inter (24). . Dupont de N (15.20). Dupont d N deb (). Estn Roll Mill(ht2). Eastman Kodak(18). Eaton Axle & S (3 Eitingon-Sch (2%) Eitingon pf (6 150 Elec Storage Bat (5) 3% Emmerson-Brnt A. 31 Eng Pub Serv Evans Auto L(33%). 3% Fairbanks Co, . 78% Fash Pk Asso pf (7). 5 Fed Motor Tr (80c) 28 Fid Pho Fire 1(2.60). Firestone T&R(1.60) - LI YRSy ® Nat Strs (2%). ik Rubber. .. 4 Foster Wheeler (2) 2% Foundation Co. 1914 Fox Film A (4)..... 23% Freeport, Texas (15) 8214 Fuller pr pf (18.68).. 5 Gabrid1Snub A. 3% Gardner Motor. 75 Gen Am Tnk Car($4) 4244 Gen Asphalt (4) 24 Gen Bronze (3). Gen Cable. e RANNAEIBN AxRuaakaR 2 Gen Cigar (4).. 168%“Gen Electric (16) 11 Gen Elec spec (60c) 55% Gen Electric (new).. 35 Gen'l Food Corpn (3) 59% Gen Gas&El A (te2). 50 Gen Mills (13%). 331 Gen Motors (13.69) 9'3 Gen Outd Ad vte (2). 20 Gen Public Serv(bé) 70 Gen Ry Signal (5)... 50 Gen Refrac (t4%).. 80 ~Gillette Sat Raz(c5). 10% Glmbel Brothers. Gotham Silk H (2%) 4 Gould Coupler...... 7% Graham-Paig . 46% Granby Copper (8).. 877 Grand Stor pf (634). 9% Grand Union. 30 Grand Union pf (3 32 Granite City Stl (4). 364 Grant (WT) (1).... 28 Grt West Sug (2.80). 85% Grt North of (5).... 19 GtNetfsO.P (a3%) 14% Grigsby Grunow (3). 1 Guantanamo Suga: 42 Guif Sta Steel (4) Hahn Dept Stores. 74% Hahn Dept 8 pf(614) 27 Hall Printing(t1 ). 13 Hartman Corp E 1.20 6% Havana Elec Ry..... 5% Hayes Body b8 % stk 24% Hercules Motor 45 Hershey Chocola s?u Hershey Choe of ( 2. ). Holland Fur (e2%).. 13 Houdaille Her B(2).. 45 H’hold Fi pf 13.2214 40 Household Prd (14)., 26 Houston Ofl....... 34% Howe Sound (15). 34% Hud&Man Ry (3.50). 60 Hudson Manh pf(5) 38 Hudson Motor (5) 18 Hupp Motor (£2). Illinols Central (7).. 17% Independ O1l & G (3) 3% Indian Motor Cycl 13% Indlan Refinin, - 11% Indian Refining et. .. 6814 Indus Ray(b5% stk) 120 Ingersoll-Rand 17%. 22 Inspiration (4)...... 12% Insurance shars 45¢ 15 Interboro Rap Tran.. 2 Intercontinental Rub 4 Intl Agricultural. Intl Agri pr pf (7) Intl Cement (4).... 184 Inter Comb Eng 65 Intl Pap & Pwr pf(7) Intl Stlver (t © S anZaaans 12% Investors Equity(3). 39 Jewel Tea (4).. 90 Johns-Manville (3) 1'% Jordan Motor Car. 10% Karstadt (R) (1.02). 17% Kautmann DS (13%). 30 Kayser Jull sl 0l 53% Kress (SH)Co (n1).. 22% Kreuger& Toll(1.34). 38% Kroger Gr&Bak(c1). 801 Lambert Co (3) 5 LeeRi 30 ey 341% Leh Val Coal pf (3) Lehigh Valley (14%) Al Owens (1) Liggett & My B (15). Lima otive. .. Liq Carbonie (t43).. Loew's, Inc (13%).. 110 22 76 Ludium Stl pf (6%). 39% McCall Corp (2%) 70 McCrory B (2). 54 McKeespt TP t4% 21% McKesson & Rob () 40 McKes & Rbof(3%). 20 McLellan S A (m20). 55% Mack Trucks (6).... 110 Macy(RH)&Co(ct3) 11% Madison SaG (1%)., 35 20 Manati Sugar of. [TSTTS - L PR eTepers 80 Marlin-Rockwell(16) 19 Marmon Motor (4). 214 Martin-Parry....... 29 Mathieson Alkili (2) 45% Iay Dept Stors(es). e - Lexanhruanoswn Mengel Company (2) 9% Mexican Seaboard 20 Miami Cupa-:ll:') oOfiet.. 185 MidldStl Prpf 113%. 3% Miller Rubber. i 69 Minne&Hon Reg(t4 Minn Moline P! XA . 93% Mo Kan & Tex pf(7). 1 Pacifio. M ul Missouri Pac pf (5). Monsanto Ch (g1%). 42% Montgomry Ward(3) 1% Mother Lode (40c). 3% Motor Meter G & 36 Motor Products 119 21 Motor Wheel (3).... 10 Mullins Mfg. 14% Murray Cor(b2% stk 30 Myer(FE)& Bro (3). 40 Nasb Motors (8). 70 544 L% NALAGRS (ihlagans . ¢ AL Low. 195 31% 6% 19% STAR. WASHINGTON, D: €. THURSDAY, DECEMBER 26, —Prev 1929~ High. u]:: Stock ana Dividend Rate. Nat Biscult (new).. . Nat Cash Reg. A (14) Nat Dairy (32)...... Natl Dept Stores. ... Natl Pwr & Lt (1), Natl Radlator. .. Natl Rys Mex 24 pf.. Nat Supply (17). Newport Co A (3). Newton Steel (3)., N ¥ Central (8) NYCh&StL (s NY NH & Hart (8 Norfolk Southern. Norfolk&Wstn(112). North Am(b10% stk) North Am pf (3 v Northern Pae (5) North Pacct (5). Nor Ger Lloyd(3.41). Oil Well Supply. Oliver Farm Equip. Olivr Fr Ep cv t(3), Olivr Fr Eq pf A(6).. Omnibus Corp....... Oppenheim Col (5)... Otis Elevator (18).., Otis Steel (2%).. Pacific Gas & E (2) Pacific Lighting (3). Pac!fic Oll stubs. 9 P L Park & Tilford (; Park Utah. Parmelee £ Patino Mines (3.89).. Peerless Motor Car. Penick & Ford (1). Penney (J C).. 4 Pen (JC) pf A (6)... Penn Coal & Coke. ... Penn Dixie Cement Penn Dixie Cemt pf. Pennsvivania RR(4) Pet Mirk (1%). Pnelps Dodge (3) Phila Co (17%). Phila Co 6% pf (3) Phila& Read C& 1 Philip Morris (1) Phillips Pet (1), Phoenix Hosfery. Plerce Ofl. Pierce Pet: Pilisbury Fl (12% Pirelli Co A (2.38). Pittsbgh Screw 1. Poor & Co (B) (2)... srSnnvananiamumdmommBonaitnznSaanttivacernar-Bana Prairie O&G (12%).. Proc & Gamble (2) Prod & Refiners. . Public S, N J (13.40). Pub Sve NJ pf (5)... Pub Sve NJ pf (6). Pub 8ve NJ pf (7)... Pullman Corp (..., Punta Alegre Sugar. Pure Of (1%)...... Purity Bakerles (4).. Radto Corp. . Radio pt B (5). Radio-Keith-Orph A, Raybestos Man 2.60. R Reo Motor (71.40) Repub Ir & Steel(4).. Revere Cop & Brass. Reynolds Spring. .... Reynolds Tob B (3).. Rhine West (1.92)... Richfleld O11 (2). Rio Grande Of1 (k2). Ritter Dent Mfg (13) Rosaia [ns (2.20) Royal Dutch (a3.20 Safeway Stores (e5). St Joseph Lead (13 St L-San Fran ‘D:). S e SupmenonBrnIdntrehonnweoa Sharp & Do of (3%). Shattuck(FG) (11%) Shell Union (1.40)... Shubert Theatres. ... » Simmons Co (g3).. Stmms Pet (1.60) Sinclair Con O1l (3) Sinclair Ol pf (8). Skelly O1) (2) Sloss Sheffleld steel. Snider Packing pf... So Porto R Sug 12%. Southern Cal Ed (2! Southern Dairies B 83 Sparks Withngtn é‘ ) RanosanenmnSamen F3 1929. United CEQQGE: wan®unnnn acac 13 23 11 % 30 A.M.,. . t Dividend rates as stven 10 the above table are the annu nts based on Unit of tradi toCk. ¥ . §Plus ear—no 10 toc! 38 5| o atock. & Pris 1% Stock ana Dividend Rate. Stand Com Tob (1) Siand Gas StandG&Epf (4)... 3 Std Oll of Cal (h2%) 7 Stand O1I N J (12). .. d 01l N Y (1.60). 3 Stone & Webster (2) Studebaker (35)..... Submarine Boat. Sun Oil (p1). Superior O11. Symington. Symington A Telauto Cp (11.25) Wat Asso pf(6) Tid= Water Ofl pt(5) Tiv¥n Det Axle 1300 Téticen Roller (3)... icco Product: . Te#acco Products A. Tra#ucontinental Oil Trien Prod (2%).... Trums Traer (1.60).. Twin City Rp T (4). Und Elllod Fishr (5) Union Bag & Paper. . 2. Union Oil of Cal ($2) Union Paeifie (10)... Union Pacific pf (4).. Utd Afrcraft&Trans. Utd Afrcraft&T of 3. Utd Biscuit (1.60)... Utd Carbon (2) Utd Cigar Stor . United Cigar Strs pf. Utd Corporation. Utd Corp ot (3). Utd Frait (eé). Utd Gas & Imp(1.20) Utd Gas & Im pf(6).. Utd Piece Dye Wks. . Utd Piece D pf(6%). P 5 a > a 8 5 ) ) Pipe & Fary (2). Pipe 1st pf (1.20) US Pipe&F 2d pf 1.20 Realty (). Rubber > Vick Chemical(2%). Virginia-Car Chem. . Virginia-Car 6% of.. Virginia-Car pt (7).. Waldort Systm (1%) ‘Walworth Co (2) Ward Baking B. Warner Bros Ple (4). Bros P pf(2.30). Wess O & 8n pf (4).. Westn Dairy & ()., Westngh Alr Brk(2). Westinghse E&M(5). ton El Inst (1).. White Eagle O1l (2).. ‘White Motors (2)... White Sewing Mach.. ‘White 8w Mch pf(4). 1/25 of & share in stoek. FINANCIAL. Sales— Prev d 00. High. Low Closs Close | E 6% 6% 6% El (3%) 191 53 17 I | Elec Coal % | made public after the close of the mar- | e an RN AHANROS S e -Quinian (2). Wileox Rich B (e3).. Willys-Over (¢1.20).. Willys-Over pf (7) ‘Wilson & Co. Wilson & Co ‘Wilson & Co pt. Woolworth (3.40). Worthington Pum; Wrigley Wm (4) ‘Wright Aero (2) Yellow Truck & C. Young Spring (3). Zenith Radlo (3).... RIGHTS Am Rollg M. .Feb 15 Col. Carbon. . Mar. 11 N Y Central..Jan 31 Penn Ry... Peo. Gas & 0..Jan.15 Utd Gas Im..Dee 31 Sales of Stocks on New York Exchange. T 65% 3 5 2% % _ W 5 Jan1s 3 2% 3 11% 12 500 1w 238,800 12:00 Noon. .. 1814,900 1,171,000 310 P.M., 2,060,300~ S P S Spihe i, R ek e eainca. * ¢ Bayable 1h cash or Book, en 'ear: r lus 6% In stock. . 3Pl 3 abale B Shoo. oioe Washington Ticker ' BY CLINTON COFFIN. Associated Press Financial Writer, Harry F. Guggenheim, who is just getting settfed into the post of Ameri- can Ambassador ta Cuba, has already introduced one innovation into the cus- tomary organization around a diplo- matic office. It consists in the addition of nal economic adviser to the embassy staff, who will be maintained by the Ambassador himself. The ma- ostentatious insertion into the embassy of such a specialist is the sort of thing that might be expected from a man called from the business world to per- form the delicate duties of maintaining good relationship between the United States and one of jts closest national e ; To fill the post Ambassador Guggen- heim selected Grosvenor M. Jones, who has been for many years head of the finance division of the Commerce De- artment, and who was prior to enter- an Government service actively en- gaged with internationai banking or- ganizations operating in South America. Jones is already on the job, having been granted an extensive leave of absence by Secretary Lamont to undertake the new function. Officials associated with the Govern- ment’s diplomatic and trade extension branches are markedly gratified to have opportunity to co—u‘nrlu with Mr. Guggenheim in working out any new ideas of the ambassadorial role that he may have. This is particularly true because Cuba, though a most important customer and puryeyor to the United % | States, is at the moment a country with o 4d% 103% 87 1344 48% AT% 1% 5 52% 26% 1 18% 38 53 dg | Ambassedor Gusssabeims extepsion | and which relations are suffering because of the inevitable harassment due to pend- tariff revision in Congress. As the "Hntflpll world producer of sugar the iana country has felt sharply all the weight of proposals to increase the American tariffi on the product and there has been some hostile Cuban tariff making against American prod- ucts. However, there i5 probably no other world area of equal size to Cuba in which American investment relations have been so expanded, and Mr. Gug- genheim thus has .several reasons for desiring special and expert advice in his 1. ns. . American investment in Cuba proba- W9 reaches now a total of $1,500,000,- €00,” Dr. Julius Kléin, Assistant Secre- tary of Commerce, féemarked in discuss- ing the Jones assignment. “Cuba early became one of the flelds into which of the standard diplomatic organization is regarded as représenting the ultra- modern trend in international affairs. nellimom betl'nn :inu:trlu'w day and age are incre ly gel Tecog- nized as economic rather than political connections. Detaillng commc.cial at- taches to embassies and legations has long been a practice of the United States, but the Jones appointment per- haps foreshadows the appearance in foreign service regularly of a new kind of specialist who will deal with the banking, finance and economic trends for ambassadorial enlightenment. Revised railroad calculations now es- timate the 1929 earnings of class 1 rail- roads in the United States to have reached a total of $1,275,000,000, which makes allowance for traffic decline, not- ed with the onset of Winter, and rep- resents slightly less than the total ex- pected a few months ago, but most rail executives will regard it is evidencing more than a moderate degree of pros- perity for the country’s railroads this year. Incidentally, there are few things that light up the railroad operating views about railroad consolidation more clear- ly than the comparison of the figure given with the rail earnings of former years. In 1920, the first-class rail prop- perties of the country, though even then regarded as representing an investment of between $18,000,000,000 and $20,000, 000,000, showed earriings of barely $17,- 000,000. A year later they were under $400,000,000, and this meant that car- riers as a whole were not able to earn even 2 or 3 per cent on commonly ac- cepted investment values, ‘That period of low earnings, just after war and Government control, most rail operators are apt to point out, was the one in which the idea of consolidat- ing all the country’s rail mileage into 18 or 20 units won acceptance from Congress. Most of the specially interest- ed people deemed then that it would always be necessary to deal with a large portion of American railroad routes as bad investments have to be dealt with —by nursing them along in every possi- ble way. Linking weak lines to stronger ones ‘was the favorite approach to the nursing process foreseen, which meant. legaliza tion and encouragement of consolid: tion. The Interstate Commerce Com- mission last week, complying with the old law, after much hesitance issued a national plan for such action. But within a le, by reason of the appearance of such, earn! as those cited, the necessity for consolidation, from the railroad bankin American enterprisé could expand, and | has co- there has been an amazing operation between Cubans and Ameri- cans in the development: In plantations, transportation and communications, American capital and Cuban-American management have registered notable ac- complishments in the last 25 years.” W possibilities of increased economy in management from the creation of fewer 4 P 10 stock. o Plus 3% doubts in the minds of management about the actual ability to realize them. Further, operating as 230-odd units, the larger carriers are earning pretty well, satisfying nearly all bondholders and a lot of stockholder. in addition, which leads to the judgment that no hurried or anxious approach to extensive con- solidation is in prospect by railroad leaders in any part of the country. ‘There having been general signs of business satisfaction with the, policy and a practically complete absence of hostile public criticism, the Federal Trade Com-~ mission is proceeding to start the new year by a wide extension of its pro- gram for putting through trade agree- ments in officlal and trade association conferences. Among the industries ar- ranging for early consideration of trade agreements are those producing wall- paper, non-ferrous ingots, which in- cludes copper, brass, bronze and zinc fabricators, and manufactures of pipe and radio nipples. Tentative arrange- ments are being made for dealing with a score of other industries. There are now some 80 lines of com- modity production and distribution in the United States in which principal concerns, acting under authority of the commission, have laid down codes of business conduct relating to all phases of their operation and have organized to enforce the codes. To some degree, and as to certain portions of the agree- ment, the commission undertakes to put its own law enforcement instrumentali- ties behind the expressed will of the trade. The procedure illustrates the immense change that has been wrought within recent years in the attitude of the Federal Government toward busi- ness enterprise, though little gets said about it. Ten years back the only Fed. eral Trade Commission object in ap- proaching a trade asfociation was to consider a prosecution. Today half its business, at the very least, is to help business co-operation. “SHORT” TRADERS SLOW TO COVER CONTRACTS By the Assocated Press, NEW YORK, December 26.—A re- luctance on the part of “short” traders to cover their commitments is em- phasized in a number of, midweek cus- tomers’ letters from New York Stock Exchange member firms. This “short” interest was said to be larger than it has been for several weeks. One large commission house sald that it had never known a time when traders short of the market showed so little concern, and such indifference to suggestions that they “cover.” SESHER M S Big game hunters in Africa declarc | the Cape buffalo to be much mere dan- gerous than the lion. ISTOCKS G0 HIGHER, , N ACTVENARKE List Gathers Strength.Mn Brisk Trading as Leadets Show Gains. BY STANLEY W. PRENOSIL. Associated Press Financial Editor. ... NEW YORK, December 2644yall Street experienced a marked change in speculative sentiment over the hiali- day, with the result that prices #,l- lied briskly under heavy buying tur both accounts. Net gains in a long list of active issues ranged from 2 to 10 points, with a few specialities mark- ed up as much as 15 points. The apparent completion of large- ;| scale tax-selling, combined with fresh buying in anticipation of the distribu- tion of more than $1,000,000,000 in Jan- uary dividend and interest payments, gave the market a much stronger un- dertone. Buying orders were distribut- ed over a fairly broad list, short cov- | ering again being an important fac- tor in the day's advance. Business News Better, Directors of the Anaconda Copper Co. declared the regular quarterly divi- dend of $1.75, temporarily setting at rest fears that the recent decline in the copper stocks foreshadowed a re- duction in dividend payments. The usual S1 extra was declared on Lackawannn Railroad common. The day's business news included reports that holiday trade in several of the large cities exceeded earlier expectations, and expanding op- erations in some of the leading auto- motive centers. Call money was firm at the renewal rate of 51 per cent and the rate i expected to work higher within the next few days because of the heavv year end demand for funds. Time money and commercial paper rates wore unchanged. Wall Street is looking for another small decrease in Federal re- serve brokers' loans, which will bo ket today. Specialties Advance. High-priced specialties led the day's advance in the market. Auburn Auto and Otis Elevator each soared about 15 points. Columbian rbon 9%, Ameri- can Tobacco 8%, and J. I. Case, Gen- eral FElectric and American Water ‘Works jumped 8 points or more. United States Steel common was marked up more than 4 points to 16612, or approxi- mately 10 points above the week's low quotation. Westinghouse Electric, American Water Works, American & Foreign Power, American Telephone, Johris Manville, A. M. Byers, Simmons, American_Can, Air Reduction and Un- derwood Elliott Fisher all sold 4 to 72 points higher. Wall Street Briefs W. A. Starrett, president of the Star- rett Corporation, predicts that the total of new construction in this country next year will be materially ahead of the fig- ures for this year, with a reasonably arge number of new undertakings in the first half of the new year, Net sales of Canada Dry Ginger Ale, Inc, and its subsidiaries for the period ended September 30 showed an increase of $1,267,375 over the same period last year. Stockholders of the Pennsylvania Railroad numbered 191,079 on December 1, a new high record. A total of 3,032 new shareholders was added during No- ‘vember. Only 180 rights, each equal to one- fourth of a seat on the New York Stock Exchange, out of a total of 1,100 issued last Spring remain unexercised. The 920 rights or 320 memberships, ex- ercised to date, include 20 hts for which approval is expected to given by the Exchange soon. Net earnings of the Associated Gas & Electric System for the 13 months ended November 30 amounted to $41,- 703,753, an increase of $22,750.841, or 120 per cent, over the same period last year. RAILROAD EARNINGS. NEW YORK, December 26 (#).—With but few exceptions the November net operating income of American railroads, as made public today, showed decreases as compared with the figures for No- vember a year ago. The Missouri P: cific was one of the exceptions, its r ports showing an increase from $1,865.- 089 for November, 1928, to $2,004,063 fOlAll.s! month, mong the railroads reporting toda; and their net for last month x:'nd No- vember a year ago were: ailroad. Chicago Great Western Great, Northern .. 1929, $243.72 Chi. Mil, St. P. Bittaoureh & west viv. V143 exas & Pacific 5 The Four-Footed Highwaymen. Campers comprise a great proportion of the visitors at the national parks in the Western parts of the United States and in_those of the mountain- ous districts the bears are one of the reigning attractions. These animals roam about without regard for the humans, bu.:vay rarely disturb the two-legged guests of the parks. frequently hold up tomobiles by blocking up the roadways, and they must be coaxed out of the way by means of some edible. Their sense of smell is very keen, and the presercs, of pork will stagt them on a hunt gnd they are likely to do considerable dam- age in their efforts to locate a piece of ham or bacon. At night they often roam through the camps in their search, and to circumvent the ani- mals the tourists make use of orange boxes for food storage and hang them upon a limb which is not strong enough to hold the animal and which is out of its reach. The Britisher's Tea. ‘The British breakfast table accounts for the great bulk of the world's tea ‘tonsumption; last year's importation figures show that, aside from tea-drink- ing the countries of production, Great Britaln alone consumed 52 per cent of the world's supplies and the British Empire as a whole 70 per cent. ‘The amount imported into England for home consumption rose from 399,000,- 000 pounds in 1925 to 424,000,000 in 1928. The iIncrease is ascribed to & re- duction in the price of tea which took place last year. Fasters Draw Crowds. Men who put on fasting endurance exhibitions have been drlwinr crowds in England. They are especially popu- lar at seaside resorts. At Blackpool re- cently three men were living on a diet of lemonade and cigarettes, They were housed in glass cabinets, and in spite of cries of “fake," crowds swarmed about the cabinets. When Sacco, well known for his fasting feats, passed the sixtieth day of his fast the throngs of curious were so large that it was difficult to handle them. Lenglen's New Home Famous, Suzanne Lenglen is preparing to move to a sixteenth-century manor house near Dieppe, France, where she will have more room for her tennis trophies. The place is not far from her former home, Mon. Coin, at Pourville. It has a romantic history, being built by the fa- mous French sailor, Snn Angot, who was governor of Dieppe and the richest EEL