Evening Star Newspaper, December 28, 1929, Page 19

FINANCIAL. UTILITIES FEATURE TRADING ON CURB THE EVE : NEW YORK CURB MARKE ~Prev, 1920.—~ High. Low. 31 7 NG STAR, WASHINGTON, D. €, SATURDAY, IRAILROAD EARNING TOTALS SHOW LOSS DECEMBER ' 28, FINANCIAL. NEW YORK. December 28.—The following is today’s summary of im- portant corporation news prepared by | Standard Statistics Co., Inc., New York, | 1929, i WHOLESALE PRICES IN FIRMER TREND Commercial transactions during ;fhe Yesterday’s New York Stock and Bond Averages. 530 Edition. clated Press. Received by Private Wi Direct to The Star Office Stock and Bales— Dividend Rate. Add 00. Open. High. Aeronautical Indust. 2 4 % Sales— d et Add 00. Open. High. Low. Close. Dividend Rat 36 36% Market Irregular—Declines Are Noted in Trading Company Issues. BY JOHN A. CRONE. Bpecial Dispatch to The Star. H NEW YORK, December 28.—Slipping | steadily, the curb market closed lower | today. Trading in the first hour was active, but the irregular tone that char- acterized the opening was turned into & definitely lower trend, with utilities and investment trusts and trading com- panies displaying the widest fluctua- tions and greatest activity. The higher-priced utilities were first to move downward. In this list were American & Foreign Power warrants, | Standard Power & Light, Northern States Power and Commonwealth Edi- son. Some of these initial losses were ! partially recovered, miscellaneous oils became active, and then the Standard group began to appear more frequently on the tape. Shenandoah Corporation, which three months ago declared an initial divi- | dent of 11; per cent in common stock on the common shares, took no action at this time. At the distribution of the initial dividend it was intimated that the directors intended to pay sim- ilar dividends quarterly. Shenandoah eased following this announcement, then recovered as traders indicated that the fewer dividends declared in stock and the more in cash at this time the better it would be for the market. Tri-Continental Allied Corporation opened lower despite the approval of a merger with Tri-Continental Corpora- tion. which will effect important econ- omies. Haygart and Transamerica at times pointed higher. Aviation shares came out initially, dis- playing an irregular trend, then definite- ly turned lower. Gains about balanced losses in the mine list. Newmont, the most active in the group, reacted more 1requently than it ros~. ‘Tax selling could be seen in such transactions as 7,000 shares of Goldman Sachs at 35, two blocks of 7,000 and 4.000 shares, respectively, of Italian Superpower at 9'5, and 5,000 shares of ‘Venezuelan Petroleum at 2%. Fox Theaters A absorbed consider- able_ selling on the expectation that some announcement would be made about financing floating obligations of its parent, Fox Film. Crocker Wheeler opened unchanged at 21%. Markets at a Glance NEW YORK, December 28 (#).— Stocks irregular; Sears Roebuck drops ‘within 4 points of year's low. Bonds dull; low-priced industrials decline. Curb easy; oils and utilities lower. Foreign exchanges easy; French franc reacts. Cotton lower; liquidation. Sugar easier; commission house selling. Coffee deciined; foreign selling. Wheat firm: bullish Argentine and Australian reports. Corn steady; fore- cast unfavorable weather. Cattle steady. Hogs steady. i Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., December 28— Potatoes.—White, barrel, 1.50a4.00; 100-pound sacks, 1.75a2.50; sweet po- tatoes, barrel, 1.50a3.00; yams, barrel, 2.00a3.00; beets, crate, 3.00a3.25; hamp- er, 1.50a2.50; cabbage, hamper, 30a50; carrots, 100, 2.00a3.00; cauliflower, crate, 1.50a2.00; celery, crate, 1.7523.75; eggplants, crate, 1.50a4.00; lettuce, basket, 2.50a3.50; kale, barrel, 1.25a1.50; onions, 100 pounds, 1.7582.00; peppers, crate, 4.00a5.50; parsnips, basket, 50a 65; pumpkins, 100, 5.00a15.00; spinach, bushel, 50a75; squash, crate, 2.25a3.50; tomatoes, crate, 2.50a6.00; turnips, hamper, 25a35; apples, bushel, 7522.75; cranberries, box, 3.00a4.75; grapefruit, box, 2.50a4.75; oranges, box, 210a4.25; tangerines, box, 1.25a2.50; strawberries, quart, 60. Dairy Market. Poultry—Dressed turkeys, pound, 30 a36; old, 26a28; chickens, 30232; ducks, 28a30: geese. 22a30. Poultry, alive—Turkeys, pound, 32a 35; old toms, 25a28; Spring chickens, 26a32; Leghorns, 22a24; old hens, 20a 30: Leghorns, 18a20; poor and thin, 17 | al8; old roosters, 1 ducks, 16a30; geese, 23a28; guinea fowl, each, 40a50; pigeons, pair, 25. i Eggs—Receipts, 2,026 cases; native and nearby firsts, 53; pullets, 45a48; hen- nery whites, first, dozen, 56; current receipts, 43a45; culls and dirty eggs, 25a30. Butter—Good to fancy creamery, pound, 41a46; ladles, 35a36; store pack- ed, 21; rolls, 31a32; process, 38a39. SILVER QUOTATIONS. NEW YORK, December 23 Bar silver, 463,. ) — Mexican dollars, 35. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal kold Selling checks value (or par). .$4.8665 193 today. 34.38 0393% ‘1401 ‘2393 London, vound Pars, franc Brussels, bel Berlin, mark Rome ' lira Zurich. frane.. Athens. drachin Madrid, peseta Vienna. schillin Budanest. pengo. . sue, crown (nom. Warsaw. zloty Copenhagen. crown Oclo. crows s i 268313 Stockholm, crown... 2696 NEW YORK BANK STOCKS. NEW YORK, December 28 (Special).— Bid. Asked. 131 138 175 70 210 175 5 140 157 116 50 212 225 500 39 America Amer Union Bk of U S units Bank of Yorkto Brosdway Natl . Bryant Park . Central Natl e Chat Phenix Chelsea Ex ex iis Sty Columbris Commercial . ntinental . Fifta Ave. First Natl . Grace z Harbor State Harriman Industrial Lebanon : Lefcourt Nor n. wuiverty e Manhat Co Melrgse Merchants Midtown Penn Exchange . Port Morris Prisco State Public Seward Sixth Ave Stegling Nail Strdus Natl' Textile Trice Bank . Union (Bri'x) . Wash Sa n World Exch Yorkville . TRUST COMPANIES. Comm Ttal E BE Bi NY & Tr Rronx Cent Unioa Cent Union new Counts ex rie Empire Farm L& T Fidelt- FPulton .. Guaraniy Interstate Int Germanie Int Germanic Lid Irvine old &G Enrope T 81 4814 4315 90k 57% 40% 23 25 247 110 52 80% 4Ty 52 23 153% [ 153% 8474 6074 31% 52 1% T2 80 6915 29 33% 174 224% 109% 42% 2474 399 85 18% 16% 37 4214 29 T1% 100% 3 25% 18 17 45% 69 55% 5 AT 100 50 19% 5Tia 83% 90% 103 13 15 42% 6814 98% 118% 32 33% 90 15 12 449% 210% Com’ 18 £0% 160 38% 35 21 29 52% 37% 41% 123 26% 11% 1% 87% 56 625 215 5% 29% 13 4% 26 51% 4674 642 26% 10% 1 17% 307 42 1% 451y 59 20 20 22 55% T8 321 189 108% 100 9674 £ Nowgh Tt C Amer Uniied States ... .. . 209 J6in 5% 190 Am Lt & Trac (10).. *89% Am Super 1st pf (6). 310 1% Aeronautic Ind war.. 13 Aero Underwrites Agfa Ansco, 66 Agfa Anscopf...... 17 Ainsworth Mfg 323%. 10 Air Inv, Inccv pr.... 1% Alexander Indust. 4 AllIntInvCorp..... 10% Allied Mills, (60c)... 23 Allied Pow & Lt..... 40% Allied Pwr&Lt pf. 71 AllP&L1stpfb. 31 Am Arch Co (3). 38 Am Bakeries A (3) 5 Am Br B £I 14 sh: 784K Am Cigar Co (8). 994 Am Cigar pf (6). 29% Am Cit P&L A (a3).. 10 AmCP&L B (b10%) 18 AmCwIthPAb10%. 22 Am Com P B (130c).. 2% Am Cmwith Po war.. s AmControlOl1Flds. 40 Am CynamidA(1.60). 20% Am Cyanam B (1. @ 2 o Am Gas&Elec (31) Am Gas&Elec pf (6). 6% Am Invest Inc B.... 3 Am Investors (war). 0 nanar-S 1% Am Maracaibo. 5% Am Natural G: . 2% Am Pneumatic Serv. 104 Am Solvents Chery 254 Am Sol Ch ev pf (3). 18% Am St Pub S(A)1.60. 15 Am Superpower (1). 129, Froz 5 Am Yvetts (new)wi. 8 Anchor Post F (2)... 14 Anglo-Am vot (73c). 11 Anglo-Am n-v (73c). 15 Anglo Chil Nitrate 55 Apponaug Co (2) 7% Arcturus Rad Tube.. 1 ArgoOil....... & Ariz Globe Copper. 3% Arkansas Nat Ga: 615 Arkansas Nat G 90 Ark Po& Lt pf(7). 60 Armstrong Cork(t2) 15% Art Metal Works(3). 1% Asso-Dyeing & Ptg. 5% Asso-Elec Ind Lid 354 Asso GRE, A (12 3% Asso G&E A del 3 Asso Rayon. N 304 Asso Rayon pf (6).., 304 Atlas Port Cem (2) 14% Atlas Stores (12%). 15% Aut V Mev prpt (2). 1% Bahia Corp pf. . . 4% Bellanca Atrcraft 10 Bliss Co (E W) (1).. 3% Blue Ridge Corp. 23% Blue R Corp ev pf 13, 28 Blumenthal (S) 1% Bridgeport Machi 5 BrillCorp A (1%). 1 Brill Corp B.... 3% BrCelanese Ltd rcts 55 Buckeye Pipe L (15). 99% Bunk H & Sull (19) 7% Burco, Inc. ...... 38 Burco, Inccv pf (3). 3% Burma Corp (131¢) 13% Butler Bros (2) 234 Buzza Clark, Inc 4 Bwana M Kubwa.. 3% Cable Radio T vte 3 Cab&WireLtdA ret 1% Cab&WireLtdB ret 3% Cab& WireLtdpf rets % CAMCoctfs.. 1 CAMCocum pf. 3 Can Marconl. . 30 Carnation Co (13) 5 Carnegie Metals 20 Celanese Corp. 80 Celanese Corp p! 12 Celluloid Corp. . 614 Cent Atlantic Stat. 20 Cent PSv A (21.75). 12 Cen States El (340¢). 70 Cent Sta El pf xw (6) 19% Cen States El war... 4t Centrifug Pipe (60c) 6 Chain Stores Dev... 9 Chain Stores Stk(b6) 20 Citles Service (130c) £4 Citles Serv pf (6)... 50% Clev. Kl Illum (1.60) 10 Clev Tracotr (1.60). 21 Club Alum Uten 40 Colgate-Pal-P (: 4 Colon Ofl..... 1% Comwlth & Sou war. 1th Edison (8) 4 Consolidated Copper 12% Con Dairy Prod (12) 71 Con Gas, Balto(3.60) 20% Con Gas Ut A (2.20). 214 Cons Instrument. 10 Cons Laundrie: 10 Continental Oil. ..., 30 Cooper Bess pfA(2) 10 CoriCorp.... 121 Corroon & Revnold: 69 Cor& Rey pf A (6). 12 Courtaul Ltd (70¢c) 6% Crecle Petroleum # Cresson Cons (.08). 174 Crocker Wheeler(n). 37l Cr& Bpf (3%) ww. 29% Crowley Milner (2).. 1% Crown Cent Petrol. .. 40 Cumb’'Ind Pipe L(4). 5 Curtiss Flying Serv 1% Curtiss Wright war 1% Cusi Mex Minin| 6'5 Darby Pet (1) . 2 Davis Drug Stor efs. 4 Dayton Alr & Eng Deere & Co (6). 3 De Forest Radlo. 4% DH A Ltd retn(50c). 2 Derby Oil & Refin 5% Detroit Alreraft Ca &4 Dix Gas & Utllities. . 14% Doehler Die Casting. 4 Dolores Esperanza.. 13 Douglax Alreraft... 34 Driver Harris(new). 4 Dubelier Cond&Rad. 3% Durant Motors. . 14 Duval Tex. Sul. w.i.. 22 EastGas& F Asso. .. 17 st States Power B 10 ler Elec Corp. ... 50 El Bond & Sh (b6). El Bond & Sh pf (6). 15 Pow Assoclate: 14 El Pow Associates A 10' El P& L opt war. 314 El Sharehold (11) 45'% FEI Sharehold of (6). 25% Empire Pwr Corp(2) 147 Emp Pub Sv,A(1.80), 5 Empire Steel Corp. 21% Employ Reinsur 1%. ' Engineers Gold. ... . s Evans Wallow Lead. 3 Fabrics Finishing, # Fairchild Aviation. ., 2% Fairey Aviatn Ltd.. 16 51 FajardoSugar......310s .10 Falcon Lead % Fandango Corp. . 3 Fedders Mfz A (2). 20 Fed. Metalg 1115 15% Kiat Sik deb ris ret 1% Fiat Stk debris 35 Fire As Phil (215), ¥ Fokker Aaireraft... 7% Foltis Fischer Corp. 15 Ford Motor Can A. 3 Ford Mot of France. 101 Ford Motor Ltd 15 Fore D Prpf (1.60) 31 Foundation For Sh; 20 Fourth Nat Inv. % Fox TheatClA..... 35 Fren Line B (2.54). 71% Galena Signal pf.old. 180 Garlock PKE (1.20).. 4'3 Gen'al Alloys (80¢c) #% Gen Am Invest new 70 Gen Am Inv of n (§) 2 General Baking. . 45 Generai Bak pf (§) 35% Gen Kl Germ rets. .. 744 Gen E L1d rets (50¢) 19 Gen Empire Corp. .. 13% Gen Gax & E) (A) 10 Gen Indus Alcohol 40 Gen Print Ink u% Gen - ror PIETT T TP ST O 1 PROTOI PP AP QU TII -OPAUN ~ PPy " worSeanm meo - @ BrrmumeBonionoantmn~ Se = a2 .3 - @3 e uBeoespannenEine roruRannar e AT sn eI N TSR I N R B A0S Glen Alden Coal (10) 12% Globe Underwrite: Golden Center. .16 Goldfield Consol. 32 Goldman Sachs ( 3 Gold Seal Eln. 26 Gorham Ine pf ¢ 1% Goth Knitbac Mac! 23 Gravmur Corp. I Criffith (DW) A 18 CGround Gripr(t1%). 44 Cuardn Fire Assn(2) 115 Guit Oilof Pa (1%). 10 Hall Lamp (12X, 1 * Happiness Cahdy [STOPQUIN - TOTN v an 23 aa D= A 1% 13% 21 80 22 124 2% 5 12% 33% 45 77 36 38 % 80 100 3718 13% 1% 13% 22 % 30 14 30 1% 274 E 19 133% 1349% 4h 14y 2L AT 229% 626 574 26'm 39% 26 89 1514 313 697 99 28% 32% 28 68 39% 63 69% 484 26 591 108%, 28 27% Haygart Corp. 3% Helena Rubenstein. . 33 Hormel (G) (12) 6% Horn (A.C.) Co. . 25 Horn(A.C.)1stpf3%. 39 Horn & Hard (2%).. 6 Houston Gulf Ga: 6 HudsonBay M &S.. 74% Humble Oil (2) 50% Huylr 8,Del cm p! 27 Hydro El Service(2). 10 Hygrade Food Prod. 260 22 Lmp O1l Can n (50¢). 9 Imp Tob Can (30c).. 26 Ind PLnew (123%).. 5 Indian Terr Illum... 17 Iad Fincfts (b10%). 65 IndusFin cv pf (1).. 26 Insull Util Inv(b6%) 70 Insull Ut In 24 pt 52 InsCoNA (12%)... 17 Insurance Sec (1. % Intercontinent Pet n 6% Intern Perfume (1).. 15 Intl Petrol, n(623c) 5 internat Products... 10% Intl Saf Raz, B (13). 25% Intl Superpower (31) 3 Internatl UtB...... 2 Internatl Util (war). 10 Interstate Equities. . 40% Interst. Eq. ev-pf.(3) 12% Irving Air Ch (1.50). 9% Isot Fraschini (1.05) 4% Ltalian Superp war.. 6% Italian Superpow A.. 100 Jer. Cen. P&L pf (7). 2 Jonas & Naumburg.. 4 Kerr Lake..... 22% Klelnert Co (2%). 1 Kolster-Br (Am Sh). 8% Lakey F & M (12.40). 1% Land Co of Florida. . 26 Lane Bryan tine (2). 3 Lefcourt Real (1.60) 23 Lefcour Real pf (3).. 90 Leh Coal & Nav (4).. 63 Lehman (The) Corp. 1 Leonard Ofl 36 Lerner Stores (2)... 40 Long Islamd Lt (40c) 103 Long Isld Lt f(7).. 2% Loulsiana Lan & Ex. 15 Mangel Store; 80 Mangel Strs pf (65) 7 Marconi Int M 51%c. 7 Marc W T br sh( 14 Margay (2).... 28 Marine Mid Cp (1.20) 9 Marlon Steam Shov. 1 Mavis Botthing. ..... 9% Memph Nat Gas 58% Mercantile Stors(5). 5 Met & Min Inc (1.20. 27% Met Chain Stores. ... 18 Middle WstUt(b8%) 3 Mid West Ut B war.. 21 Midl United(b1% %). 35% Miller & Sons (2).... 1% Min Corp of C (26¢).. 8 Mo-KanP L (5%). 23 Mock Judson Voe(2) 99% Moh Hud P 2d pf(7). 50 Moore Drop Frg A... 7 Mount Prod (1.60)... 5% Municipal Service. .. 22% Nachman Spring (3) ¥ NatAmer Co (2). 6% Nat Aviation....... 34% Nat Bancservice (5). 5 Natl Fam Strs (1.60) 10 Natl Family 8 pf(2). 24 Nat Fuel Gas (1) 99% Nat Pow & Lt pf (7). 20 NatPubSv A (160). 15 Nat Rub Mach (2 6 Nat Screen Serv 1.60 23% Nat Sugar NJ (2)... 5 Natl Trade Journal.. 10% Nat Transit (t13%) 4% Nat Unlon Radio. 2 Nauheim Phar pf. 48 Nevada Cal Elec. . 40 Newberry(JJ)(1.10). 18 New Hav Clock {1%. 21 New Mex & Ariz Ld. 89 Newmont Min (34 20% Newport Co (2)..... % N ¥ Auction (1%4)... 20 N Y Invest (1.20).... % N Y Invest (war)... 17 N Y Merchand 12%.. 11% N Y Pet Royalty (1). 11% Niagara Hud P(40¢). 2% Niag Hud Pw A war. 2 Niag Hud Pw B war. 12 Niagara Shars b1-40. 21% Niles Bement Pond 1% Nipissing (30¢) 8 Noma EI Cor (1.60) 10 Noranda Mines (3) 5 North Am Utll Sec. 4% North Am Aviation. 41 Northern P L (15)... 116% North St Pow A (3). 20 Novadel Agens (2) 1% Ohio Coppe: 644 Ohlo Ofl (12%...... 8% Ollstocks Ltd A 1500 10% Outbd Mot A (1.30)., 20 Overseas Sec (1). 24% Pac G&E11stpf 1%. 124 Pac Western Ofl. 15 Pandem Oil. 2% Pantepec Oil...... 6 Param C Mfg (2.40). 20 Penn Mex Fuel (2) 98 Penn O Ed prpf(7).. 13 Pennroad Corp. .. 69 Penna Wa & Pwr(3). 25 PeoL&P A (az.40). 4 Perryman Elec Co... 9% Pet Milk Df (7)...... 17 Petrol Corp(134).... % Philip Morris inc. . 31 Philip Morris (A). 20 Pie Bak of Am A(2). 6% Pilot Rad T, A(1.20). 814 Pitney B P n(20¢). 10044 Pitts& LE (5).... 49 Pittsbgh Plate G 3. 60% Powdrell&Alex i4%. 6% Prince & Whitely. ... 29 Prince&Whitely pf 5% Prudential Inv.. 15 Pub Util Hold war 6% Pyrene Mfg (80c). 10% Radio Products (2).. 7' Rainbow Lum ProdA 3% Rainbow Lum ProdB 1% Reiter-Foster (40c). 12 Reliance Managemnt .65 Repetti Candy . 4 Reynolds Bros Ine. .« 18% Reyuolds Met, n 2.40. 2% Richmond Radiator. 8 Rich Rcum pf (3%). 22% Roan Antelope Min 18 Rockland L & P. t Field.Ine. Royal Typewritr (3) Ruberotd Co (4). Russek’s Fifth Ave Ryan Consolidatee & Stanthony Gold. 140 St Rezis Paper (1), 124% Safe Car HELt (110) 110 Stfeway S war (2d). 1% Salt Creek Con (40¢) 9 Sait Creek Prod (2).. 5% Schulte Real Estat 24 Schulte Un Ge-31 St 10 Schulte-Utd Sts pf. . 3% Schutter J Candy A 4 Selected Industries. 49% Select Ind pr (5%). 50% Sel Ind allot ofs 6% 3% Sentry Safety Cont 12 Seton Leather (2). 3 Shattuck Den Min. 48 Sheaffer Pen (13) 6% Shndoah Corp(b§ 14% Shenan Corp pt (3).. 26 Sierra Pac Elec (2) 147% Silica Gel ct. s a7 Silver (Isaac) Bros. 440 10 Sisto Fin Corp, 29 Solar Refining (214 ). % Sonora Product. 20 SoCal Ed pfB(1 861 So Penn Oil (1214) . 31 So Ice & Utilities B.., 11' Southland Roy (1), 4% § W Gas Ui, , % Spanish & Gen Reg 95% Stand Oil Expt pt(5) 45 Stand OIl, Ind (123 ), 29 Stand OIL Ky (1220, 40 Stand Oil,Neb(131;) . Singer Mfg Co (126).1101 Ilnols P L (20)....700s 12 1 = BT UL IO T PPN PP e, FETTT Y- To 9 & 34 - B e % 9 rruZPanrSernnnan vunlaanSconiNarBornahnn Sunnrn R ae e ea SRR » » wuetulrsanSanNemSarlvarsnampannm Y PP -3 60 . St Oll of Ohlo (234), 1508 49% Stand Pow & Lt 13 Suarrett Corp 31 Starrett Corp pf(8)., 10% Stein Cosmetics Ine. 26% Stroock & Co (3). 215 Stutz Motor Car. 4 Sunray Oil (40c) B0% Superheater (334)... 2514 Swift Intl (2)... 8l Syrac Wash M B 18 Taggart Corp (1) 40% Tampa Flectric (32) 7' Texon Ol & Land.... 2 [ PP QIR TSP 35'% 19 12% 19 12% 614 30 404 T 8% 83 50 35% 10% 303 26% 10% 400 20% 18 63 5% 82 0% 17% % 7% 6 12 T 2 19 12 12 3 6 2 10 40 12 % e 8% 4 9 100 2 V) % % b 24 26% | 10% 401 20% Drop in Shipments Reflected in Decreased Income of Carriers. BY CHARLES F. SPEARE. Special Dispatch t~ The Star. NEW YORK, December 28—Esti- | mates of earnings per share on in- ! dividual railroad stocks prepared at the end of September and following nine months of the most satisfactory Tesults since 1926 will have to be adjusted to the change that has come over the sit- uation since that time and has made the final quarter of 1929 a period of smallest comparative net earnings in several years. The effect of this recasting of ac- counts will be to bring down earnings from $1 to $2 per share, but so large were net revenues in the first three quarters of the year that this shrinkage will not lead to any changes in dividend Policies. Traffic Deferred. Some of the traffic that the roads missed during the Autumn months has only been deferred and will come to them and figure in their 1930 reports. This is particularly true of the systems in the Northwest, whose current earn- | ings are among the poorest relatively of any being published on account of the holding back of the grain crops in the big Spring wheat States and also on the Pacific Coast. It is the feeling of some of the traffic managers in the East that tonnage out of the industrial centers that is just now scant will move in greater than % | seasonal volume next year when the effects of the present business recession have passed over. The showing of the Northwestern roads, of the anthracite coal and auto- mobile carriers and of the trunk line systems for November is the poorest of all of the various American groups. Great Northern, for instance, had a gross decrease last month of 25 per cent and a net loss of 40 per cent. The North- ern Pacific had a cut in its gross of 14 per cent while its net was 37 per cent smaller_than in the same month of 1928, The St. Paul came through bet- ter than its competitors with a gross de- crease of a little over 5 per cent and a reduction in net of 26 per cent. The Soo Line had its net cut exactly in two. The Chicago & Northwestern had only nominal Josses in gross and net and the Chicago & Great Western even was able to show both higher gross and net than a year ago. The carriers of hard coal look back on November as one of their poorest months. The Lehigh Valley suffered heavily, although its earnings were af- fected materially by the smaller ship- ments of automobiles which figure con- spicuously in its traffic. The gross de- crease of this road was 20 per cent, with net off 60 per cent. The Reading had a decrease of about 7 per cent in gross, with a loss in net of 34 per cent. of about 9 per cent, although it earned more in November this year than in the same month of 1927. For the first time in many months the Pennsylvania system In November experienced smaller gross and net earnings, the one being off 6 per cent and the other 37 per cent. For the 11 months to November 20, however, this road has to its credit net earnings of $17,600,000, or over 17 per cent more than in the corre- sponding months of 1928, and earned for its interest and dividends in the period approximately $25,000,000 more than to November 30, 1927. Trend in East. - The Baltimore & Ohio reported a net loss last month of $1,892,000, or 37 per cent. New York Central's earnings have not so far been indicated. but it is understood that they exhibit the general trend in the East already shown by the Pennsylvania, Baltimore & Ohio and other competitive lines. In the Southwest, the effect of smaller ship- ments of agricuitural products, mer- ! chandise and oil are reflected in the declining Tevenues of the Texas & Pa- cific; Missouri, Kansas & Texas; St. Louis-San Francisco, International & | Great Northern and Kansas City South- ern. The Southern Pacific has been similarly affected, but, like the Penn- sylvania, it shows for 11 months a large margin of net earnings over both 1928 and 1927. Preliminary reports of December traffic point to additional losses this month both in gross and net, with the latter item affected in many sections of the country by extreme weather, which caused an increase in operating ex- penses over December a year ago, when conditions were more "favorable for economy in transportation. BRADSTREET’S REVIEW. NEW YORK, December 28 ().— Bradstreet’s says: The seasonal urge to buy for holiday needs persisted late in last and early {in this week, despite inclement weather due to one of the most widespread Winter storms in years at this season. A review of reports from some 40 cities, show a preponderance of testimony that retail trade, this including holiday dis- tribution, was about equal to a year !ago in volume, with, however, frequent mention made that dollar value was affected by a shifting of buying to more staple lines and a tendency to give the preference in purchasing to cheaper grades. Wholesale and jobbing trade and industry have been father on the | quiet side. "On balance the total vol- ume of operations would seem to have been somewhat below a year ago. when the last quarter of the year witnessed a very full, if not, indeed. record vol- ume of operations in all lines for that season. Weekly bank clearings, $9,308, ;la decrease of 11.8 per cent ! year ago. BALTIMORE STOCKS. | BALTIMORE, December 28 cial).— Sales. STOCKS. 611 Arundel Corporation '....... 4C & P Telephone Balto pfd 80 Consolidated Gas com 233 Consolidated Coal com. .. 100 Delion Tire & Rubber com 53 Eastern Rolling Mills com 77 Maryland Casualty Co. 5 New Amsterdam Gas 35 Pa Water & Power. 1000 United Rallway & Elec : 5 300 United Porto Rican S - H 270 U S Fidelity & Guaranty ‘ (Spe- Last sale. The Erie system suffered a cut in gross | each of these reporting for wide areas, | for the Associated Press: News Trend. The weekly mercantile reviews' esti- mates of Christmas trade indicate that buying this year held up well and in the main was better than had been forecast.” Volume of business was about equal to a year ago, with a tendency toward purchasing of lower-priced merchandise. Report of mercantile failures for De- cember on & unit basis were 614 per cent above 1928 and less than in 1927. | Actual liabilities involved, however, were | the highest in any month in seven | years, increasing 43 per cent above the | same week last year and 14 per cent | over December, 1927, considered an un- favorable month. Bank clearings for the week con- tinued to show a contraction from a | year ago. Total of $8,846,202,000 this week in 23 leading cities of the coun- try is 123 per cent below the cor- responding week last year. Clearings in New York City for the week show a decline of 15.3 per cent, while principa: cities outside New York declined 6.3 per cent. Corporate items of interest incluae the proposal of acquisition of Sogooa Bradley Car and Standard Steel Car Cos. by the Pullman, Inc., and passing of preferred dividend by Autosales, Inc. The Companies. American Ice net (before deprecia- tion and Federal taxes), $5.528.475 in 11 months to November 30, against $5,256,160 a year ago. American Window Glass—Federal tax refunds in fiscal year to June 30 to- taled $1.803,215. Atlantic Coast Line Railroad Novem- ber net, $503,019, against $1,156,292 a year ago; 11 months, $11,917,509, against $8,609,271 a year ago. Autosales Corporation passes quarterly preferred dividend of 75 cents; last payment October 15, Chicago Great Western Railroad earned $2.42 on preferred stock in 11 months to November 30, against $1.71 a year ago. Chicago, Rock Island & Pacific earned $12.35 in 11 months to Novem- ber 30, against $11.76 a year ago. Commonwealth Power net income, after interest, amortization and equity earning in subsidiary stock, for 12 months to November 30 increased 18 per cent over a year ago.- Corn Products Refining declares extra dividend of cents and regular quar- terly payments of 75 cents on common stock. Detroit Edison Electrical output in- creased 15 per cent in 12 months to September 30 over same period of 1928. Electric Auto Lite awarded con- tract to produce all Ford generators. Florida East Coast R. R. showed deficit of $165,425 in November against deficit of $28,283 last year; 11 months | net showed an increase of 12.7 per cent over a year ago. Indian Motor Cycle to issue 40,000 no par common shares at $5 a share. Lehigh Portland Cement earned $2.77 in 12 months to November 30, against $5.76 & year ago. Manatl Sugar earned 98 cents per common share, before colons accounts written off, in 12 months to October 31, | against 73 cents a year ago. McKesson & Robbins issues 16,251 common shares, 5,145 preferred shares and $325,227 in acquisition of three com- panies. McClellan Stores net income for year 1929 estimated at $1,650,000 by chair- man, against $939,009 in 1928. Sales for year are estimated at $24,000,000 against $13,939,374 in 1928. Stores in operation now total 260. F. E. Myers & Bros. earned $5.62 in 12 months to October 31, against $4.79 | a year ago. J. J. Newberry plan addition of 35 stores to chain in 1930. Penn-Ohlo Edison net income, after interest, amortization and equity earn- ings in subsidiary stock, for 12 months | to November 30, was 17 per cent sbove a year ago. Pullman. Inc.—Stockholders to vote on acquisition of Asgood Bradley Car and Standard Steel Car Cos. ubmarine Boat Equity receiver sought by stockholder. United Light & Power earned $2 in 12 months to November 30, against $1.50 last year. United States Steel reported negotiat- ing for the purchase of certain proper- ties of the Pittsburgh Coal Co. Virginian Railroad carned $11.80 in 11 months to November 30, against $6.67 A year ago. ‘Western Pacific Railroad Corporation November net off 49 per cent: 11 months, 4 per cent above a year ago. NEW YORK COTTON. NEW YORK, December 28 (Special). —Following the recovery of half a cent from low levels of a week ago, cotton | prices eased off moderately today under | a light volume of business and closed with a loss of about 5 points at lowest figures of the day. A decline in the stock market brought profit taking to supply contracts at slightly lower levels. Spots were re- duced 10 points to 17.30. | Cotton Range. | Open | January .......... 1718 | Mareh LT Mayv M Lx] July D178 | October Diver CHICAGO, December 28 (Special).— Wheat was 'lower again today under scattered selling and an absence of buy- ing orders. After the first half hour December was 12414, March 13015, May 13315, Corn was affected by the wheat mar- ket. A feature was the liquidation in December. December was 90, March 933, to 93, May 9515 Oats were lower. December was 4614, March 4775, May 49. Provisions were quiet and easier. i FEDERAL LAND BANK BONDS. NEW YORK, December 28 (Spe- cial).— Bid. Asked. Land o3, %58 Land Land | Land Land Cand Land Land Land Land | Land Land Land Land ! Cand Land Bank 4%s Nov 1958-38 Bank 4s May 1958-38 Bank 4s Nov 1957.; Bank 4145 Jan 1057-370 Bank 4'ys May 1957-37 Bank 41is July 1936-36 Bank 4!2s May 19420p3; Bank 4'2s Jan 19430p33, . Bank 4125 J.&J. 19530p33. Bank 4':s J.&J. 10530p35. Bank 41%s Jan'1956.36 Bank 4345 J.&J. 19530p3; Bank 43.s Jan ‘1954033 Bank 4345 ‘July 19540p34. Bank 5s' Nov 19410p31 Bank 55 May 1941op31 oi 9811 | 10004 | 10014 FRIDAY, DECEMBER 27. Previous, Today. day Ten first-grade rails i Ten secondary rails Ten public_utilities Ten industrials . Combined average ' Combined average 83.31: vear ago. 9.8 s 3 les (par value), $10,- month ago. two vears ake, 96, PROPOSED CONSTRUCTION WORK SHOWS BIG GAIN By the Associated Press. NEW YORK, December 28.—Exten- sive industrial, public work and rail- way improvement projects announced throughout the country in the final week of the year raise of proposed hea construstion opera- tions to $119.275.000, which compares with $55,100.000 in the same week last year, the MoGraw-Hill Construction daily report-d today. For th~ month of December all classes heavy construction opera- tions t::at reached the proposed stage aggregated $391,823,000, a figure which exceeds the $364,950,000 announced as the cumulative total in the heavy con- | struction field for the same month in 1928. CHICAGO STOCK MARKET. By the Associated Press. CHICAGO, December 28.—Following is the complete official list of transac- tions in stocks on the Chicago Stock Exchange today: Sales STOCKS. 550 Adams Mfg. 800 Adams Royaiiy 850 Addressograph 800 All-Am_Mohawk 3600 Allied Mot Ind. 200 American _Coloriype. 350 Am Com Pow A 950 American Eauitiy 1300 Am__Radio, .. 250 Ainsworth Mis 850 Art_ Me‘al. 2180 Asoc Tel ULil. 100 Associates Inv Co 1250 Atlas Stores . 600 Auburn Auto. 1100 Bastian 'Blessi 350 Baxter Laundrie: 9550 Bendix Aviation 5700 Borg Warner 100 Brach & Sons. 200 Banco “Kentucky. 300 Brown F & W A 100 Brown F & W B 450 Bruce (E L) Co 1100 Burnham Trading. 300 Butler Bros . 1830 Cent 1)l Sec 750 Cent Pub _Se 700 Cent & So West 300 Chain’ Belt... . 700 Cheriy Burrel | 100 Chi City & Con R bf 12700 Chicago Corp. . 4200 Chicago Corp pi; 500 Chicago Flex Shafi 450 Chicago Investors 1200 Chicago Investors bi. 250 Chicago_ Rall Series 1350 Cities Service.. 1850 Club_ Aluminum_ 125 Commonwealth E 200 Com Tel . 100 Community Wat ‘Serv 50 Construct Materials. . 50 Const Materials pf 50 Consumers ........ 2750 Continental Chi etf: 27 Cord Corp. ... 1000 Covp _ Securities 100 Curtis Lighting 100 Crane Co.. 50 Eddy Paper... ...\ 400 Electric Househoid 150 Emp Gas & Fuel 75 bt 350 Foote Gear & M 50 Gen Water W A 50 Gleaner .......... 800 Great Lakes Alfcrafi 5 100 Great Lakes Dredge. 135 7200 Grigsby Grunow. . 2 100 Ground Grip She 100 Harnischfeger 50 Hart-Carter 350 Hormel & Co 700 Houdaille-Hershey *A’ 200 Hussman _ Lizont 200 Tilinois - Brick 00 Inland Ut 3650 Insull Util Invesi E: 400 Insull Util In 2nd Sei 250 Tron Fireman. 2 1100 Katz Drug... 700 Kellogg _ Switch. 700 Ken-Rad Tube 1700 Keystone Steel. ... 100 Lane Drug V T € 200 Lane ' Drug pf. 200 Lehman _Corp. 250 Libby-MeNeil 500 Manhattan Dy 300 Meadows Mfg. 350 Merch & Mfrs Al 100 Mid West Util 6s pf A 200 Middle W Ut war 550 Middie W Ut “B" war 2100 Midland_ United 300 Miller & Hart 850 Mo-Kansas Pi 300 McGraw Elee RS0 Mid West ‘Ut n 300 Morgan Lithograph 400 Muncie Gear A 100 Muncie Gear B 50 Muskezon Motor 450 Nachmann _Spring| 300 National Battery . 150 Nat Elec Pow A. 100 Nat Leather 1300 Nat Secur Inv 450 Nat Secur Inv 50 Nat Standard 00 National Union 200 Noblitt-Sparks . 150 North Am Car || 3 100 North Am Gas & Eiec 850 Nor Am Lt & Pow 1230 No & So Amer Cor 2100 Northwest_Bancorp. 50 Northw Engineering 300 Parker Pen ... 50 Penn Gas & Elec 250 Perfect Circle ... . 200 Pines Winterfront ... 1800 Process Corp ... 600 Nat Shareholders. 150 Public Serv n p 950 Rath “Packing. 200 Raytheor. 100 Rellance ... 50 Rollins Hosiéry. 700 Ryerson & Son. 450 Sally Frocks .. ] 255) Seaboard Utilities. 150 Standard Dredei 2106 Steinite Radio 250 Super Maid. . 50 Swift & Co 1050 Swift Intl.. S 50 Thompson (3 Ri_100 2 100 Time-O-Stat. Controls 50 Twelith St Store A 500 Unit Corp. ... 50 United Gas. .. .01l 300 United Reprodiicer Low. Close. High, 30 ' 29 A 0198 R, Radio ... 1700 Uil Pow&Light 150 Util Pow&Light 1350 Utility & Ind..... 1050 Utility & Tnd pi. . 500 Van Sicklen ...l 100 Vortex Mfa Go 100 Vortex Mfe A. 350 Wayne Pump 'pf... 750 Wextark Radio .. 100 Wisholdt Stores 230 Williams _Of1-0-Matic 500 Winton Engine . 3 400 Wise Bank Shares i 550 Zenith Radio 4 Stock sales today, '187.000 BONDS. 1000 Am St P Srv 5':s ‘48 88 shares. Stock and Dividend Rate. Thermold Co (2). Third Nat Inv (1)... Thomp Prod A 12,40, Thomp-Starrett. ... Thomn Star of (334) Tobacco Pr Exports.. Todd Shipvard ). Time-0O-Stat A Transamer (1.60) Tran Con Alr Tran.. ‘Trans Alr Trans cfs. Tr-Lux D.L.P. S.(A) Tri-Cont Allied (3).. Tri-Continental Co Tri-Cont Corp pf (6 Triplez Safety GI Trunz Pork Store: Tub Art Silk B (10), ol Lamp (2), Tung-Sol Lpf (3)... 1020.~ Low. 19 264 —Prev High. 31 R e ] 9 Union Amer Invest.. Un NG Can (11.60) Union Tobacco. ... - Utd Carr Fastnr 1.20 United Ch pt pf (3).. United Corp war. United Dry Docl United Gas Co. .. Unit LI&Pwr,A (f0e « Utd Lt & Po nf (6) UnitedMilk Prod. United Prof Sh (1.20) it Ret Ch pf (3%3). 118 Datry B... U S Fintnshing (32). I C P TIUE S SN Add 0. Open. High. Low. Close, 20 ~Prev. 1920.~ High. Low. 4% 14 9% 3 19 9 18% 381 26 28% 40 55% 20 27% 231 a 3813 19% 2714 201, 19% US Foll % 244 9 815 4 Viek Fin West Al West Ma 3% | a8 .annusl payment. i casb or stock. b Pa; Stock and Dividend Rate. U S Shares Fin. . Unit Verde Ext (4) United Stores. ... Utl] Power&Lt($1).. Utllity & Ind. .. Util & Ind pf (134) Utllity Equiti, Vacuum Of1 (14%) Venezuela Ptm(20c) . Vogt Mfg Co (2). Walereen Co. Walgreen Co war. Walker (H) (1) Watson (J W) Co Wayne Pump 2 Wenden Copper. .. Wes Auto Sup A (3) Wiiltams R C (1.40). White Sew M de rts. Wil-Low Cafeteria. . Yukon Gold..... Zonite Prod (1.60).. RIGHTS. .01 Sierra Pacific, .07 Trans Corp... | Dividena rates o dolla; ividend. TParty extra Sales— Add 00. Open. High. 164 161 30% 40 13% 14 L 2% 12% B (1) Sual-aoea D == Corp. DN BhASmUARILA AR Exp (60c) 55 Co (2). .. 18Y% Eapire. Jan, 3 3 cdan. 42 08 08 07 based on Iast ouarterly or semi- Plus extr 10 stock. a Pasable in bie 1n stock. d Payablé in preferred atock. jweek ended December 21, as meas! 4 the money value | prices were lower than in either the ed by the volume of checks presented!to ;(he banks for payment, were greater | than in the preceding week, but showed a decline from the corresponding pegiotl of 1928, according to the weekly state= ‘ment of the Department of Commérce, . Steel plants were operating on a lower level than in the corresponding period of last year. Receipts of wheat, cattle and hogs at the prinicpal markets were { lower than in the corresponding week of {1928. The distribution of goods,-aszn- dicated by the velume of freight.car loadings for the latest reported week, was lower than in the same period of ‘a | year ago. ‘The general index of wholesale prices was somewhat stronger than in the pre- vious week, but was lower than a year ago. Iron and steel prices were frac- tionally higher than in the previous week, but were somewhat lower than jn the corresponding week of 1928. Cop- per prices were unchanged from the previous week, but were higher than.a year ago, while prices for cotton aver aged lower than in either period. Interest rates on both time and call funds were unchanged from the pre- ceding week, but were substantially lower than at this time last year. Band previots week or the same week of 1028, Business failures were less numerous than in the preceding week, but showed a slight gain over Jast year. o Commodity Notes Hats. Special Dispatch to The Star. - PHILADELPHIA, December 28.-—Hat manufacturers in this district have had a splendid year, with a marked increasn in volume and net earnings as compared with 1928. The John B. Stetson Cp. distributed to its employes bonuses amounting to $544,000. Wholesale Trade. a NEW ORLEANS.—Wholesale trade in this territory for the last three months has not been up to the record, estab- lished in the last quarter of 1928, ex= cfgpatr in specialties, such as candy and cigars, Building Materials. ST. PAUL—One of the banking - stitutions hiere has just organized a subs sidiary to handle installment sales pa- per, specializing in lumber and building materials. g Potter; ot EAST LIVERPOOL, Ohio—Exceljent business conditions are prevailing in the Eastern Ohio pottery trade, with many good orders booked for early 1930 delivery. Christmas vacations for pote tery workers were cut short. Furthér orders are expected after the annual pottery show in Pittsburgh in Janua CHICAGO POULTRY PRICES. CHICAGO, December 28 (#)—Poyi- try, alive, firm; receipts, 3 cars: heavy fowls, 2715a28; ‘Springs, 23; roosters, 17 turkeys, 20a24; ducks, 17; geese, 17418, POTATO MARKET. CHICAGO, December 28 () (Unitad States Department of Agnculmrg)‘:— | Potatoes—Receipfs. 57 cars; on track, 185 cars; total United States shipments, 455 cars; trading just fair, market firm: Wisconsin sacked round 'whites, 2.4 2.60; mostly 2.45a2.60; Idaho sacked Russets, 2.75a3.00; fancy, shade higher, U. S. TREASURY RECEIPTS.- By the Associated Press, v Treasury receipts December 26, $12,- 808,293.23; expenditures, $17,408,495.78; balances, $182,789,555.96. BONDS ON THE CURB MARKET. Shales in o thousands, 1Alabama Po 5 '63... 5 Alabama Po 4155 '87. § Aluminum Co 5s '52. Am Cmwlith_ Po 6s ' m G & E 55 '28 m Gas & U 6s m P & L 65 2016 ... m Seat 65 36 ppalach Po 5 DOMESTIC BONDS. Hich. Low. Close, 99 99" "90. 222> 44 °C 101 las Plyw 5135 43, .. 8513 11T Can 85 A 35 10013 7. 10013 00 ERRERRE: ol T En % 8 s & Mo 6sm: 26 Can Pac Ry 55" 1 Gap Adm 85 A 20 Gittes Ser B 81 1 Gons Tex o Cudahy P 1Denv & S 1Det C Gas 5s B '3 2Det Inter Brds 7 DixGas estone Cot In P & 158 atinoau P atineau on H 5 18 7 3 2 0000 2 Goodyr T&R 2Gulf O Pa's 3 Gulf_ & util 16 Hous Gulf G 65 A 43 68 32 Hygr Food 63 A '49.. 6214 12 Indep Ol 6s 30 9 Indiana P&L 55 A 3Inland Ut 63 34 3 Interst Po 65 '52 7 Inters Po 55 '57 5 2Inv Co 5s A 47 Ww.. 25 Kelvinator ‘65 '36 xw, 60% 5 Koppers G & C 55 '47 95 s A_2026 102 1Libby McN & L 55 41 01 dLa P & L 5s 57 95 Miss Riv P 5Nor Ind P'S 9 3 Nor State Po 6':s '33 1 4 Ohio Pow 4'.s D '56. 1 0swego Falls 6; 2 Poor & Co 5 Potomac El 1 Qunsb Gt 1Roch Cent LG & B A 1South PSL 6s A 10 Staley Mig 65 42 5 Stand Inv 5'as ' 3S Maid Rais 0 Sun O1l 5. 8wift Co 55 Va EI&P 55 A '35..... 081 Waldort Astor “7s' '54 103 1 West News Del 65 '44 87 1 West Tex UL 6s A '37 93 . FOREIGN BONDS. 2 Aer Mt Bk 7Bue Alf Pro 5 Com Priv Bk 5 Danzig Port 61,5 2E Prus Ld Bk 6s ' FFimd R M Bk 65 Cons Mun 65 ‘47 ¢ RR 65 A 38 3 s El 513 ‘38 T City T '39 P 65 A 63 xw 2 Lima © Peru 6135 'S8 18 Prussin FS 15 51, 34 Prussia FS 6s 52 15 Ruhr G Co 6'ss A 2 Rumania_Inst. 7 " 30 Russian 6.8 '19. . Kus 6.5, 53 s WW--With warrants Xw- Without warrants,