Evening Star Newspaper, December 26, 1929, Page 15

_FINANCIAL, « KINANCEINCURB | [ ARICES CONTINUES nMarket Moves Upward Under 2Leadership of Public Util- ities Shares. 15+ BY JOHN A. CHONE. Bpeclal Dispatch to The Star. =/NEW YORK, December 26.—Stocks s®mthe curb, under the leadership of utilities, moved higher today as scme of the tax selling pressure was removed ana some reinvestment demand ap- Oeared. Standard Power & Light, forecasting B3 acquisition of Standard Gas & Elec- Wric, if the latter's shareholders approve this at their special meeting January 7, opened up 8 points and within the first hour hit 125, a net gain of 26 points, Standard Power & Light later reacted | & trifle as it detailed how it had ac- quired 580,000 shares of Standard Gas from United States Electric Corporation. Merger talk was responsible for much of the activity and early strength in Electric Bond & Share, which, floor ¥m!lps said, would be exchanged share or share for American & Fore Power. A'though such a move might not be bullish at the present price leveis of the two issues, Electric Bond, in view of the large blocks it now controls, could easily bring about such an exchange in American & Foreign Power. ng the miscellaneous oils Cities Service again led in point of volume. Petroleum Corporation of America, an oll investment trust, registered the largest single sale in the first two hours as a block of 13,800 shares came out at 21“9’5., off 3. The next sale was at ‘The Standard Oils improved. Stand- ard of Indiana was the early leader, until snndnrdn lol Kentucky quick- ened its pace. linois Pipe Line point- ed_higher. Motor shares were a trifle stronger than they have been for several days. Talk of a possible dividend for Ford Motor of Canada perhaps _attracted some buying into that issue. The group benefited from trade reports to the effect that cross section of motor opin- jon indicated that the industry would keep immediate production in line with demand. Radios proved a bright spot in the industrials. Hageltine and De Forest opened higher. Among the higher priced industrials Great Atlantic & Pacific Tea opened up 15 points and later added 10 to its initial gain. Tubize Artificial Silk was down 6% points. Swift old shares ad- vanced, but the new stock was off fractionally. CHICAGO LIVE STOCK MARKET , Dacember 26 () United States Department of Agriculture).— Hogs—Receipts, 25,000, including 10,000 direct; market opened 10215 higher; later trade slow, steady to 10 lower; top, 10.10; bulk, 140-300 pounds, 9.70a10.00; sows, 8.25a9.00; butchers, me- dium to choice, 250-300 pounds, 9.60a10.00; 200-250 pounds, 9.60a10.00; 160-200 pounds, 9.65a10.00; 130-160 9.50a10.00; packing sows, 5a9.00; pigs, medium to choice, 90- 130 pounds, 8.75a9.85. Cattle—Receipts, 12,000; calves, re- ceipts, 2,000; run largely short fed steers; early bids, 25a50 lower; a few of light-weight offerings with quality, around 00 pounds, 12.75a16.00; ,100 pounds, 13.00a16.25; common and medium, 850 pounds up, 8.25a13.25; fed yearlings, good and choice, 750-950 lg:“ pounds, 12.75a16.25. i .40 bulls, good and choice ., 8.75 to 9.75; cutter to medium, .00; vealers, (milk fed), good choice, 13:50 to 17.00; medium, to 13.50; cull and common, 7.25 1.75; stocker and feeder steers, good and choice, all weights, 10.50 to }:;:; common and medium, 8.25 to Sheep receipts—15,000 head: market ve, fat lambs, 13.50 to 14.00; top, 14.25; fat ewes, 5.00 to 5.50; & ing , quotable, steady; lambs, and choice, 92 pounds down, 13.25 15.50, medium, 11.75 to 13.25; com- mon, 1000 to 11.75; ewes, medium to choice, 150 pounds down, 4.50 to 6.00; cull and common, 250 to 4.75; feed- ;;oohmhl good and choice, 11.75 to CHICAGO DAIRY MARKET. CHICAGO, December 26 (#).—Butter ~—Easier; receipts, 7,160 tubs: creamery , 39; standards, 39; extra firsts, 37a38; firsts, 34a36; seconds, 31a32. Eggs—Weak; receipts, 5,241 3 extra firsts, 44a46; graded firsts, 43; ordinary firsts, 38a41: refrigerator ex- tras, 39; refrigerator firsts, 38. Coal Production Curtailed. . reported today & dustrial demand {or resulted coal has resulted in a curta mines little {lment of production at sev- eral of the Pittsburgh Coal Co., with change in prices, which keep at the lowest since 1916. SERER - sg BONDS ON THE CURB ssseSanseuse: E:Egs 3 GG I : Rt By | 33, 2 HELa! SRS 2T St/ N T amza g 990 £ BZ e Ty comz! g5 44% 18 160 8! % 59 20 324% 120 20 55% % 31 321 89 1 24% on Allied Mills, (60¢)... Allled Pow & Lt. ... Allied Pwr&Lt pf(3) AlP&L1stpf Allison Drug St A... 4 Allison Drug 8t B. .« Aluminum Co of Am., Alu Co of Am pf(6).. Am ArchCo (3)..eee Am Brit & Cont, Am Cigar Co (8) Am Cit PAL A (23).. AmCP&LB (b10%) 25 AmCwithPADI0O%. 38 Am Com P B ($300).. 2 Am Cmwith Po war., 3 AmControlOi1Fids H ¥ e otboan 15 26% 70 64 b% 15 Am Super 15t pt (6). Am Yvette, . Am Yvette (new)wi. Anchor Post F (2)... Angl6-Am vot (73¢). 25 Anglo-Am n-v (73e). 12 Apex Elect:ical Mfg. 1 1% 5l 354 316 2% Asso Laund (320c) 3 Asso Rayon. 30% Asso Rayon pf (8! 24% Atl Coast Fish (1.40) 4 Atlant Fruit & Sug.. 2414 Atlas Plywood (2).. 3014 Atlas Port Cem (2).. 14% Atlas Stores (12%). 15% Aut V M ov pr pt (2). 20% Aviation Corp of Am Aviation Securities. . Bellanca Afrcraft. .. Blaw-Knox Co (1)... Bl A% pev Bosne afSumn Blue R Corp cv pf 13, Blumenthal (8)..... Botany Mills. oes Brazil Tr & Lt (2)... Bridgeport Machine. Brill Corp pf (7).... Br Celanese Ltd rcts Buf N&E P pf (1.60) Bureo, Inc....... Burco, Ing (war).... Burma Corp (t31c).. Bwana M Kubwa Cable Radio T vt Cab&WireLtdB rcts. Cab&WireLtdpf rets C A MCoectfs. 2 0010 00 10 1 b 1 10 00 00 B Ceco Mfg (2%). Celanese Corp. Cellulold Corp. Cent Atlantic Sf Cent P Sv A (a1.75). Cen States El (240¢). Cent Sta El pf xw(6) Centrifug Pipe (60c) Columbia Syndicat .3 Comwlth & Sou war. 261 3 Com'with Edison (8) 30s 245 Comwlth Pow pf (6) 01 CommuntiyWatServ. Consolidat Alreraft.. Consolidated Copper Con Gas, Balto(3.60) - Con Gas Ut A (2.20). Cons Instrument. ... _ Cons Laundries. . . Con Retail Strs (1).. Consol Royal (60¢). Consol Theaters Continental Ofl 4 Cresson Cons ) 174 Crocker Wheeler(n). 37% Cr&Bpf (3%) ww. 29% Crowley Milner (2).. 5 Curtiss Flying Serv.. 1% Curtiss Wright war.. 1% Cusi Mex Minin, BoovmonSrnbranntannaanme - Esperanza.. Alreraft Driver Harris(new). 4 Dubelier Cond&Rad. Duke Power (35) 3% Durant Motors . EastGas & F Asso. .. 17 EastStates Power B Eastern Util Inv A. . 10 Etsler Elec Corp.... 34 14% Emp Pub Sv,A(1.80). 5 Empire Steel Corp... % Engineers Gol 13% Eng P S opt war. 3% Evans Wallow Lead. 3 Fabrics Finishing. 3 Falrchild Aviation.. 1350 51 Fajardo Sugar. .10 Falcon Lead. . % Fandango Corp..eee 5% Fansteel Products. . 10% Ford Motor Ltd. 10 Foremost Dairy . 3% Foundation For Shs. 20 Fourth Nat Inv, 5% Fox TheatClA. 18% Garlock Pkg (1.20)., 4% Gen'al Alloys (30c).. 8% Gen Am Invest new. 12% General Cable war T% Gen E Ltd reta (b 13 Gen Gas& El (A), 10 Gen Indus Alcohol 10 Gen Laundry Mach. 9% Gen Rity & Utility 60 Gen R & Util pf (8).. 24 Gen Theat Equip vte 80 Glen Alden Coal (10) 12% Globe Underwriters. 1 E1 ..o B 32 Goldman Sachs (b§) 120 bac Mach.. 16% Gram'ph'ne rets 2.91. Ground Gripr(t1}). Guardn Fire Assn(2) 115 GuifOflof Pa (1%). 16% Fanny Farmr C (1), 1 Happiness Candy. 27% Haygart Corp. ... 14% H itine Corp (1. wwenBan 23% Hormel (G) 39 Horn & Hard 12% 6 Hudson Bav M &S.. 74% Humble Oil (2). 27 Hydro El Rervice(2). e aflan THE EVENING STAR, NEW YORK CURB MARKE ~Prev. 1029.— Low, 49% 124% 189 45% 51% 63% 34 37% 149% 26 108% 59% 10% 16 38 10 Hygrade Food Prod. Insull Util Inv(b6%) InsCoN A (123%)... Insurance Seo (1.40). Intl Holdg&Inv 10c. . Intern Perfume (1).. Intl Petrol, n(62%¢) Internat Products. .. Intl Superpower (31) Internatl Ut B. Interstate Equ! Irving Alr Ch (1.50). Italian Superpow A.. ItaMan Superp war.. Jonas & Naumburg.. Klein (H) pt pf ($2). Kleinert Co (3%). Lackawanna Sec(4) . Lake Superior Corp.. Lakey FF & M (12.40). Land Co of Florida., Lane Bryan tine (2). Lazar F & R Co cod.. Leh Coal & Nav (4).. Lehman (The) Corp. Leonard Ofl. Lerner Store: % 12% 22% Lit Brothers (new).. Lone Star, new (80c) Long Island Lt (40c) Louisiana Lan & Ex. Mag Marr Stores. ... Mangel Stor . Mapes Con Mfg (3). Marconi Int M 52%ec. Mare W T br sh(62¢c) Marine Mid Cp (1.20) M MerChap&sS pf A 6% Met & Min Ine (1.20. Middle WstUt(b8%) Mid West Ut B war.. Midl United(b1% %). Milgrim & Bros..... Miller & Sons (2)...) Miller Rubber pf. Mo-Kan P L (b5%). Montecatini deb rt Moun & Gulf (.08) Mount grod (1.60)..x Nachman Spring (3) Nat Amer Co (2) Nat A Natl Shirt Co. .. Nat Sugar NJ (2).. Nat Transit (11%).. Nat Union Radio. ... New Jer Zinc n(t4).. New Mex & Ariz Ld., Newmont Min (34).. Newport Co (2).... N Y Invest (1.20). NYIn N Y Rio&Bu Al N Y Tel pf (6% ) NYTransit(1.70 Niagara Hud P(40e¢). Niag Hud Pw A war, Niag Hud Pw B war. NI ra Shars b1-40. Niles Bement Pond. . Nipissing (30¢). No AmerL&P(b8%). N E Power (11%)... North Cen Tex (60c) North St Pow A (8).. N W-Engineer (2)..: Novadel Agene (2). ‘Outboard Motor (B). Overseas Sec (1).... Pac'G&El 1stpf 1%. Pac Pub Serv (1.30). Pac Western O11, Pandem Oil. Penn Ohio Ed B war. Penn Ohio Ed pf (§) &P A Petrol Corp(1%). Philip Morri, Phillp Morris (A) Pilot Rad T, A(1.20). Pitney B P n(20c) Prince&Whitely of 3 Prop Silk H M (2) Prudential Inv.. Pub Utll Hold war . Pug S P & Lt ot (6) Radio Products (2) 6 19 19 8 43 5 50 16 3 2 = 1 59 36 st » S - » By LU T DT T 18 2 1 180 33 3 23 19 7 B0 5 i 3 5 5 1 1 s 6 Rwy & Lt Sec (14)..350s Rainbow Lum ProdA Rainbow Lum ProdB Reeves(Dan'l) (1%). Rellance Managemnt Richmond Radiator. Rich R cum pf (3%4). Roan Antelope Min.. Rolis-Roy of Am pf.. Rooseveit Field.Ine.. Ross Stores, Inc. ... Rubercid Co (4) % St Regis Paper (1).. 5 2 x 17 2 5 1 1 3 2 1 3 1 2 1 Safe Car HELt (110) 2758 Salt Creek Prod 42). Schiff (The) Co (2) Schlet & Zan(t175) Schulte Real Esta Schulte Un 6c-31 St. Schulte-Utd Sts pf.. Schutter J Candy A. Seeman Bros (3).... Seiberling Rubber Selected Industrie: ct Ind pr (6% ).. Ind allot efs 6%. ntry Safety Cont.. Seton Leather (2)... Shattuck Den Min. .. Shawingan Wa(2%). Sheaffer Pen (13)... Shndoah Corp(b6% ) Shenan Corp pf (3).. Sterra Pac Elec (2).. Silica Gel ct.... Silver (Isaac) Bros. Singer Mfg Co (126). Singer Mf Ltd (30c). Sisto Fin Corp Sonora Produc So Col Pow A (2). Southern Corp Southland Roy S W Gas Uil . Southw Penn PL(1). Stand Inves nf(514). Standard Motors. ... tand Oll Expt pf (5 Stand Oil, Tnd.(125 )). Stand Oil, Kan 123§ .. 9 Stand Oll. Ky (12,20) . 118% St O1l of Ohio pt (7). 49% Stand Pow & Lt.,,,, 13 Starrett Corp, z 31 Starrett Corp pf(§. 26 Stroock & Co (3).,,, 2% Stuts Motor Car, .., 9% Sun Inv.., 26% Swift Intl (2), 121% Swift & Co (8).... " 8% Syrac Wash M B (1) 40% Tampa Electric (32), 18 Taggart Corp (1).., 4 Teck Hughes (60c)., 107 Texas P& Lpf (1), . 19 Thermold Co (2).... 26% Third Nat Inv (1), 18 Thomp Prod A 12.40. 5 Thomp-Starrett. ., .. 34% Thomp Star ot (33) % Tobacco Pr Export 25 Tobacco & All Stk 20% Transamer (31.60)., 7% Tran Con Air Tran.. 3 Tr-Lux DL.P.8.(A) 45% Tri-Cont Allied (3),, 10 Tri-Continenta) Cor, 756 Tri-Cont Corp of (§) 15 Truns Pork Stores. , 25 1 1 308 6 4 63 10 10 5 2 6 10 2 309% 24 6. 39% Stock and Bales— Dividend :w Add 00. Open. High. Low. 10 310 Received by Private Wire Direct to The Star Office 10 309% 8 Y% 26 39% WASHINGTON, D. C, Close. 10 10 IRECLAIMED AUTO SALES ARE LARGE 2 Many Dealers Make Good * | diser and the poor one. » | better buyer of used cars than the % \bringing an encouraging outlook for Profits in Handling Ma- chines on Trade-Ins. ~ BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, December 26.—Automo- bile dealers are following the old maxim, “Let the buyer beware,” instead of let- ting their customers do it. Reclaimed car sales have taken such a prominent position in the automobile trade that they have meant the difference between profit and loss in the case of many dealers in 1929, There have been some reports cur- Tent that only a few dealers who han- dled a popular make of cheap car made any money in 1929 and that the greater number of the others got on the red ink side of the ledger. A careful check in the main trading centers of the country indicates that this is a de- cided exaggeration. Thousands of deal- ers have made profits. They have dis- posed of approximately 5,000,000 new cars, and their operations have involved over 2,500,000 used cars. One big ex- ecutive declared today that if the deal- ers were unable to make a profit under such conditions, they had no place in the automobile industry. Too Liberal Allowances. There is small reason to doubt that many dealers made far too ltberal allow- ances on trade-ins of used cars taken as part payment for new machines. But there would have been little difficulty about ending the year on the right side of the ledger had it not been for the slump in stocks and bonds, which checked the demand for new cars with- out stimulating the buying of used cars to an appreciable extent. One leading concern declined absolutely to let its dealers lower the bars when it came to trade-ins, and those same dealers in consequence are in excellent position today. ‘The public, automobile distributors say, is a better judge of used car values than ever before. The old days when a prospective buyer could be imposed on by a sprinkle of cork in the gears and other old-time tricks have passed. The dealer can get now for a used automobile just about what it is worth, and if he takes one in for more than it is worth, he stands to lose accord- ingly. Junk cars will sell at only junk prices and that is why so many have found their way into the scrap iron and steel markets. Judgment of Public. In some instances the public is a far dealer whose business it is. The writer is personally cognizant of one case where a customer was allowed $650 on his old car on the purchase price of a new $3,300 car. The customer knew his old car thoroughly and its value. He was fully satisfied that it was worth $650. The dealer put it up for sale and the customer had a friend buy it back for him for $400. He then resold it himself for $700, concluding the trans- actions with a new car worth $3,000 which actually cost him $2,350. Of the two, dealer and customer, there does not seem to be much doubt as to which really belonged in the automobile busi- ness. Many dealers are beginning to “clean house.” They are taking the less sala= ble of their used cars and junking them, thus- obtaining some cash and valuable storage space. Automobile junkers in some sections are paying from $3 to $5 for the worst wrecks and as high as $10 for better grade junk machines. The idea of two cars to a family is being used vigorously by many dealers who stress the advisability of purchas- ing one new car and one used car for such purposes. For dealers who are good merchandisers these factors are 1930. In the best years the industry has ever known it is estimated that only some 60 per cent of the dealers wind up with a %roflt, ‘The percentage will not be so high this year, but it will represent more clearly than ever the difference between the good merchan- On the Pacific Coast the successful dealers have maintained a ratio of 1% used cars handled for each new car sold. The ratio for the country as a whole is placed unofficially at 2 for 1. NEW YORK BANK STOCKS. Un k of U S units! Bank of Yorktown Broadway National Cl 3 Chelsea Ex ex City Columbus ! Commercial Continental Ave... First Natl xd Grace ..... Industrial BettE .y . Manhat Co Melrose . Merchanis Yorkville ... TRUST COMPANIES. Banca Comm Ital. . 320 Sicily County ex rts. Guaranty . Interstate . 42 Int Germanic 53% w 55 121 268 250 40 143 5 65 ?mz%u-r‘n{,u‘ v ;gg Tust Co of Nor United States..... 3300 THURSDAY, DECEMBER 26, 1929. VAST OIL PLANTS BOOM DUTCH SLE Seizure by Venezuelan Rebels Brings Curacao Into Eyes of World. BY JULIAN F. HAAS. Special Correspondence of The Star and the Chicago Daily News. Copyright, 1939. ‘WILLEMSTAD, Curacao, December 26.—Until a band of Venezuelan rebels seized the governor of this island, overpowered the police force and Sarced the captain of an American steamer lying alongside the dock to transport them to the nearby mainland of Venezuela on the evening of June 8 of this year, comparatively few persons in the United States had ever heard of this valuable Dutch possession in the West Indies. When cable dispatches telling of this episode reached the United States no doubt atlases and geographies that had the dust of years upon them were trundled out and an effort made to loct the little tropical island of ) Valuable Possession. Though small in size Curacao has proved to be & valuable possession, and since it was restored to the Dutch in 1815 by the treaty of Paris it has grown steadily in importance, but its greatest rise has been since oil was discovered in large quantities in the nearby Maracaibo, Venezuela, district in 1923. Ol companies found it much cheaper and safer to locate their re- fineries in Curacao and from there re- g‘l‘port the oil to the United States and ro) pe. Labor was cheaper; land values were more inducive; tranquillity has reigned on the island for years and better port facilities—these were a few of the rea- sons why Curacao was selected as the site for the majority of Venezuelan oil company refineries. A peculiar varitty of orange, known as citrus aurantium cinarie, grows in great quantities on the island and from it the well known brand of liqueur is made and named after the island. Peels Are Shipped. Very little is made locally and the peels of the oranges are shipped to several European cities where the liqueur is manufactured. Many persons have heard of Curacao liqueur, but have not assoclated the name with the is- lands where it was first made and be- came world famous. This small island of 374 square miles had, as most of the other islands of the West Indies, a turbulent early his- tory and only until the second decade of the nineteenth century did its present holders secure final possession. Very little of its early history is known, and the first country to possess it was Spain, which ceded it to the country of_Coro (Venezuela). 1t is known that it remained in pos- session of the Spanish for more than & century until it was captured by the Dutch in 1635. They lost it to the French 37 years later. Ownership Then Divided. Ownership until 1805 was divided among the English, Spanish and Dutch, but on New Year eve, 1806, the Eng- lish, knowing the townsmen would be celebrating the advent of a new year, advantage of the situation “and with a well concealed attack again be- came possessors of the island. They held it until 1815, when it was finally declared by the signers at the treaty of Paris to be a Dutch possession. Today Curacao has a total popula- tion of 35000 and the commerce of the island is diversified. Among the exports are beans, hides, phosphate of lime, straw products, salt and oil. In the mountainous districts lying along the coast and in the interior of the country there are many mineral prod- ucts to be found in large quantities, though the island does not have oil deposits. Port Grows Rapidly. Due to the oil refineries located in Willemstad the port is fast becoming one of the largest in the world and | late figures place the amount of oil which enters the island from small lake tankers—the only kind of vessels able FINANCIAL.) Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., December 26— Poultry, dressed—Turkeys, fair to fancy, gound. 35a36; old and crooked breasts, 5a26; young chickens, 24a25; old and ;Ili.x;:. 23a24; ducks, 22a25; geese, Poultry, alive—Turkeys, pound, 35a 36; old toms, 25a28; Spring chickens, 20a25; Leghorns, 18a20; poor and thin, 17a18; old roosters, 18; ducks, 16a24 geese, 16a25; guinea fowls, each, 40a60; pigeons, gge 25. Eggs—Receipts, 1,403 cases; nearby firsts, 54a56; pullets, 45a48; hennery whites, first, 56a58; current receipts, 43 a45; culls and dirty eggs, 25a30. Butter—Good and fancy creamery, pound, 41a46; ladles, 35a36; _store packed, 21; rolls, 31a32; process, 38a39. Potatoes, white, barrel, 1.50a4.00; 100 pounds, 1.75a2.50; sweet potatoes, bar- rel, 1.5082.75; yams, barrel, 2.00a2.75; beets, crate, 3.50; Brussels sprouts, quart, 10a25; beans, hamper, 1.75a3.25; cabbage, hamper, -30a50; carrots, 100, 2.00a3.00; caulifiower, crate, 2.25a2.50; celery, crate, 1.75a3.75; eggplant, crate, 2.00a3.50; lettuce, basket, 2. 50; kale, bushel, 40a50; onions, 100 pounds 1.75a2.00; peppers, crate, 4.00a5.50; parsnips, basket, 50a65; pumpkins, 100, 5.00a15.00; spinach, bushel, 60a90; squash, crate, 2.25a3.50; tomatoes, crate, 2.50a6.00; turnips, hamper, 25a 35; apples, bushel, 75a2.25; cranberries, box, 3.25a5.00; grapefruit, box, 3.50a 4.50; oranges, box, 2.10a4.00; tangerines, box, 1.25a3.75. Live Stock Market. Cattle—Receipts, 300 head; light sup- ply; market steady. Steers—Choice to prime, none; good to choice, 12.25a12.50; medium to good, 11.25a12.25; fair to medium, 10.25a11.25; plain to fair, 9.25a10.25; common to plain, 8.25a9.25. Bull 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, 5.00a6.00. Cows—Choice to prime, none; good to_choice, 8.5029.00; medium to good, 7.50a8.25; fair to medium, 6.75a7.25; plain to fair, 5.50a6.50; 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, 8.00a9.00 plain to fair, 7.00a8.00; common to alr, ‘and Springers, $60 to 150 Sheep and lambs—Receipts, 100 head; light supply; market steady. Sheep, 2.00a6.00; lambs, 6.50a14. Hogs—Recelpts, 500 head; light sup- ly; market higher. Lights, 10.60a10.85; Beavies, 1060410 85 medium, 1060 10.85; roughs, 7.50a9.35; light pigs, 10.00 210.30; pigs, 10.60a10.85. Calves—Receipts, 25 head; light sup- ply; market steady. Calves, 7.00a16.00. Hay and Grain Prices. ‘Wheat—No. 2 red Winter, spot, 1.28%; No. 2 red Winter, garlicky, spot, 1.26%; December, 1.26%; January, 1.26%: No. 3, garlicky, no quotations. Corn—No. 2 domestic, yellow, new, 1.07; cob corn, new, 4.60a4.75. Oats—No. 2 white domestic, spot, 56a 5612; No. 3 white domestic, spot, 55. Rye—Nearby, 90a1.00. Hay—Receipts, none. Season for old hay is about over. A little new crop is arriving, but hardly enough upon which to establish quotations 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 care of most requirements. Stra ittle demand for straw. Re- ceipts generally ample. Wheat straw, No. 1, per ton, 9.00a10.00; oat straw, No. 1, per ton, 9.00a10.0f GRAIN MARKET. CHICAGO, December 26 (#).—Wheat scored late advances in price here to- day, helped by reported United States Department of Agriculture data tend- ing to confirm huge crop damage in Argentina. Based on a study of Ar- gentine wheat ylelds, temperatures and rainfalls during the last 34 years, the Department of Agriculture was said to figure the 1929 wheat output in Ar- gentina at 152,000,000 bushels, very closely in line with the latest official Argentine government estimate. Under such circumstances, wheat price de- clines here earlier today were more than counterbalanced as the day drew to an end. Wheat closed irregular at 1, de- cline to 7 gain, as compared with Tuesday’s finish. WHEAT:- to enter the lake port of Maracaibo— | Ms at 300,000 tons monthly. After being refined the oil is reshipped to its final destination in large sea-going tankers that find it an easy matter to enter|MaY and load in the well dredged, large ‘Willemstad harbor. Mariners consider it one of the finest harbors in the world, and its rise as one of the largest ports in the world is well earned, they say. From the sea the island looks very barren and rocky, but in reality it is very picturesque and one of the clean- est islands in the West Indies. The heat during the day is oppressive, but the nights are cool. Three bridges stretching across the harbor connect the main parts of the island, while five forts at advantageous spots pro- vided adequate protection, as they have done in past centurles. Island Customs Dutch. The white people of the island take their habits and manners from the Netherlands, the mother country, but the imitations are not as complete as they could be because of the huge for- eign element of Spaniards, French and English that have settled there. These elements have to a great extent modi- [ W fled the Dutch customs, and the in- habitants are a very cosmopolitan group. The Negroes have not been molested In their habits and customs, but have retained thejr own individuality, and since their emancipation in 1863 have advanced greatly in civilized ways. Duc to their remarkable constitutions and Jocular, carefree nature, they are very independent. Relative to their speech and manners they have absolute liberty and their language is called “papiu- mento,” which is a combination of Dutch, English, Spanish, French and Portuguese. STEEL AWARDS GAIN. NEW YORK, December 26 (#).— Structural steel awards amounted to 90,000 tons in the past week, the second largest total of any week this year, and compares with 51,000 tons for the pre- vious week. Last week’s award included one for 50,000 tons to the American Bridge Co., for the new Empire State Building in New York. NEW YORK, December 26 (#).—The cotton market opened steady today at a decline of 5 points to an advance of 1 point. Near months were relatively easy under liquidation incident to the circulation of January notices, which were estimated at about 70,000 bales. Spot house brokers bought January against sales of the later deliveries, however, and the market soon steadied up on covering. Except for the January liquidation, offerings were comparatively light, with the market showing net ad- vances of about 4 to 8 points and at the end of the first half hour January sold up from 16.95 to 17.05 and May from 1759 to 17.67. Owing to the holiday there were no cables from Liver- pool to influence sentiment here either vay, but trading was moderately active, with some trade buying in evidence on the advance. St. Louis Politician Dies. ST. LOUIS, December 26 (#).—Colin McRae Selph, 65, lawyer, Democratic politician, civic leader and postmaster of St. Louis during the Wilson adminis- tration, died at his home here early today. He had been ill more than a year. Ford Steel Orders Large. NEW YORK, December 26 (#)—Re- ports from the Youngstown steel dis- trict state that the Ford Motor Co. is buying strips and sheet steel in much heavier tonnage than heretofore for shipment next month. Gold Purchase Reported. NEW YORK, December 26 (#).—The Equitable Trust Co. has received ap- proximately $301,920 in gold from Bue- nos Alres. ~Prev. 1029.— High. Low. 550 111 41% 26% Stock and Dividend Rate. Tub Art Silk B (10). 260s 137 Ulen&CO..cco0veee 2 Ungerleider Fin Corp 25 Union Amer Inv 1 Un NG Can (11. Union Tobaceo. Utd Carr Fastnr Sales— 15 24% 214 0c) Utd Lt & Po pf (8).. UnitedMilk Prod. United Prot Sh (1.20) Unit Reproducers B. United Ret Chem A. . Utd Ret Chem B ctf.. Unit Ret Ch pf (3%). U S Dairy (A) (5)... US Fininshing (33). SFoll B (1) u . U 8 Gypsum (1.60). U 8 Line . U S Radiator (2)... U S Radiator ctfs(2) US&InSectf (24). Unit Sh Mch (13%).. United Stores....... 134 Unit Verde Ext (4).. % Unity Gold, . Add 00. Open. High. ~Pre H 93% 0 Low. 137 Close, 140 140 18% 26% 27% 24% % 12% 16% 8 5045 13 25 27% 23% 5% % 20% Stock and Dividend Rate. Univers Insur (3%). 50s Util Power&Lt($1).. 10 Utility & Ind.... Util & Ind pf (1%). Utllity Equities. Vacuum Ofl (14%).. Van CampPkgpf 1% 1 Venezuela Ptm(20c). 9 Vick Fin Corp. Walgreen Co. Co Sales— Add 00. Open. High. Low. Close. 55 55 55 55 18% 144 19% 25 10% 26 134 2% 8 14 56 26% White Sew M Wenden Copper. 22 30% 15 3% 2 West Alr Exp (60c).. ‘Wes Auto Sup A (3). Willlams R C (1.40). Winter (Benj) Woodley Petroleum. 13 Zonite Prod (1.60)... RIGHTS. 3% .01 Sierra Pacific. . 1 .08 Trans Corp... Dividend rates in dollars based on a3 157 | sanual armen * O W W W 49 08 in stock. d Parable in ferred stock. PURCHASE OF BANK STOCKS INCREASES Holding Companies Are Being Organized in All Parts of Country. ——i BY JOHN F. SINCLAIR. Special Dispatch to The Star. NEW YORK, December 26.—Holding companies to control bank stocks are springing up in different parts of the country. ~The Bancohio Corporation of Columbus has acquired over 99 per cent of the shares of the First Trust Co., the Ohio National Bank of Colum= bus and the Fifth Avenue Savings Bank. And in addition to this, over 95 per cent of the shares of the First National Bank & Trust Co. of Springfield, Ohio, have been exchanged for Bancohio stock. This corporation has also ac- quired 93 per cent of the shares of the First Citizens' Coporation of the Ohio National Corporation, investment security subsidiaries of the First Citi- ;m‘ Trust Co. and the Ohio National nk. It is still relatively a small institution with resources of approximately $85,- 000,000. But is is expected to cxpand and enter the hundred million dollar class in 1930. H. D. Ivey, president of the Citizens’ National Trust & Savings Bank of Los Angeles, intimates that one of the larger Eastern banks may enter Cali- fornia in 1930, establishing branches in that State. ‘The Wisconsin Bank Shares Corpora=- tion, with 16 banks in the City of Mil- waukee and 8 banks in the State out- side, has total assets now in excess of $300,000,000. It is being opposed by the LaFollette group in that State. The year 1930 should clarify a great deal the bank situation, now that the controller of the currency has come out in his recent annual report in favor of branch banking. ‘The life insurance presidents have had their meeting. They have a nounced in the public press many inter- esting figures. "They have stated that the total insurance in force with Ameri~ can companies is now well over one hundred billion dollars. Although the United States contains but one-sixteenth of the world’s pupu= lation, this great sum, equal to $840 for every person in the country, exceeds twice the aggregate outstanding life insurance in all of the rest of the world combined. But in these calculations one should not forget Canada. There some of the most aggressive life insurance com= panies in existence have their head- quarters. The Sun Life of Montreal is a sample. It is the largest common stockholder in some of the most impor- tant corporations in the United States. The investment trend of insurance companies makes a heavy subject for study. Insurance assets are growing now at the rate of more than $120,000,- 000 & month. How will this great fund be invested? Four millions of dollars a day! And another $4,000,000 a day for reinvestment! Eight million a day— what would you invest it in so as to be safe 50 or 100 years from now? Not 80 easy to answer. Common stocks represent an e tremely small portion of the total in- vestments of life insurance companies. It is estimated that in 1928 they amounted to $232,000,000 for all life insurance companies—less than 2 per cent of the admitted assets. One insurance official has estimated that if the expansion in insurance which has taken place during the last 10 years con- tinues over the next 10, it will require the companies to invest an additional $25,000,000,000 in the world’s business activities. The day may come when the in- surance companies will exert & more powerful influence over business than the banks themselves. Canada’s export trade activity, in view of the size of the country, is remarkablc. For the 12 months ending Novem- ber 30 Canada's trade totaled $2,533- 967,000—a slight decrease over the pre- ceding year; to be exact, & decrease of $26,269,000. This is accounted for, how- ever, by the lighter wheat shipments, which naturally pull down the total ex- port figures. But that business activity in Canada was at a high lavel is indicated by the advance in the value of imports from $1,210,959,000 in 1928 to $1,309,248,000 in 1929—an increase of almost $100, 000,000. No other country in the world ap- proaches Canada in the value of its per capita export trade. Bernard Shaw is always saying the arresting, unusual thing. That's why he has the world for an audience. So when recently he was asked how he would prevent war, he stated his “war” philosophy in just seven words: “Stop fighting; that is the only way.” Recently in answering a series of questions for an important news agency he showed a tremendcus grasp of world conditions, and carried over into more dull subjects that brilliancy of expres- sion, which he possesses to such a re- markabl2 degree. But he is not a great admirer of the Kellogg peace pact, for he believes that it gives each of the parties a chance to make war in “self defense.” As every nation entering a war always goes in to defend the country’s honor, such a loophole is a very sericus one, he in- sists. The Covenant of the League of Nations left no such loophole and for that reason Shaw believes it to be a superior document—for the advances ment of world peace. Above all, this able and brilliant Irishman keeps his fest on the ground. No modern_writer is a better business man than Bernard Shaw—now past 70 and rich. (Copyright, 1929, North American Newspaper Alliance. COAL PRODUCTION. By the Assoclated Press. Coal production for the latest week reported by the Mines Bureau was in excess of the same week last year, but slightly below the total of immediately preceding weeks. Figures for the com- parable periods follow: Week ending December 14, 11,570,000 tons; preceding week, 11,727,000 tons; same week last year, 11,035,000 tons. —_—— Clearing House Statement. NEW YORK, December 26 (#).— Clearing house statement. Exchanges, $1.272,000,000. Balances, $200,000,000. TREASURY RECEIPTS. By the Assoctated Press. Treasury receipts for December 21 were $36,830,389.61; expenditures, $35,« s 611,942.53; balance, $205,966,745.36. GERMAN BONDS AND STOCKS. By Special Leased Wire to The Star. NEW YORK, December 26.— Ger Gt Red Lo ttn drawings - Asked: ed Loan with drawing u'c'ua atfached Der 100 A7 80.00 61,00 er an withou SuSten ’a'c,‘:’f‘ Fs Bk willion: parky uoted ‘in dollars arks. Ham| 1919 41.00 4500 (Quoted @ German Gen Elect 4 German Gen Elect 4 Berlin 4s it 5588858k M : Munich 4s pre-s (10 " Quoted in doliats per share) A E G (German Ge Elec) . 44.00 G (German Ge Elec) 09 .07 .07 Deu tast quarterly or semi- [ D) 8. *Ex-dividend. tPartly extra. Plus extra in stock. a Payablein cash or stock. b Payable Drefe Commerz and Privat Bank. I G Farben rid eliscnait . andle: Bank. B SS28TL2808 L2zt 8323333355838 kiusssies oS M Nor Ger Lio Austrian A 8333328 G (Gener: