Evening Star Newspaper, December 31, 1929, Page 10

10 *#= FINANCIAL. ANNUAL CLEARINGS 3 34% Duluth S S & Atl. 1 g;;: 2;% ::::‘l:: :?;’n‘fli:? Hn Dunhill Inter (34). 3 ?Z‘ 159% 43 Abraham Strauss... 3“""..'{ gl.l:'((l')‘ s “ December Total for D. C.| 3¢ 20 Adams Expressi6o) upo: .20). 96 4 Adams E: [ Estn Roll Mill(h12). 20 oes 1 i AL 264% 150 Eastman Kodak(1§). Banks Below That 4% % Ahumada Lead..... 76’ Eaton Axle &S (3).. 77 Air Reductn (t434).. Ao ':&’ Made in 1928. 184 Alr Wal El Ap(2%). e oe eI s Electrio Boat, El Pwr &Lt (1). .00 El Pwr & Lt of (1).. Elec Storage Bat (5) Endicott-John (6)... Eng Pub Serv (f1). Eng Pub Sve pf (5) ErfeRR... 14 Erie R R 18t of (4) ¢ Eureka Vac Cl (4). 5 EvansAuto L(12% Fairbanks Co ase trairbanks Morse (3) [Fed Motor Tr (80 Fed Watr Ser A 2.40.. 5'4 Federated Dept Strs. Fid Pho Fire 1(2.60) . ¢ Firestone T&R(1.60) Firestone T&R pf(6) First Nat Strs (2%). Fisk Rubber. . Follansbee Bros (3). Foster Wheeler (2).. Foundation Co. Fox Film A (4) Freeport, Texas (15) Gabriel Snub A...... Gardner Motor. Gen Am Tnk Car(34) Gen Asphalt (4). Gen Bronze (2)....., Gen Cable. . Gen Cable A (4) 74 Gen Cigar (4).. 403 Gen Electric (16). .. 63% 55' Gen Electric (new).. 11% 11 Gen Elec spec (60c). 81% 35 Gen'l Food Corpn (3) 89 50 Gen Mills (13%). 91% 33% Gen Motors (t3. 126'¢ 112 Gen Motors pf ( FINANCIAL. STOCK PRICES GAI = N BROAD ADVANGE Market Points Upward af Opening, With Leaders Holding Well. a Sales— Dividend Rate. Add 00. High. Nash Motors (6).... 7 53% Nat Acme (1%)..... 36 2 Nat! Alr Trans. D Natl Bella Hess($1). Nat Biseuft (1734) t Biscuit (new) atl Biscuit pf (7). . Nat Cash Reg. A (14) Nat Dairy (22)...... Natl Dept Stores. ... Stand G & E pt (4)... Stand Invest Corp. Std Ofl of Cal (h23) Stand ONIN J (12 Stand Ofl N Y (1.60). ' Starrett (LS) (t12%) Sterling Sec A). . Stewart Warn (j315) Stone & Webster (2). o a3 BY EDWARD C. STONI Bank clearings in Washington in De- cember fell below the total clearings S TR for December, 1928, but local clearings it ko UL for the past’12 months established a I e high = record ™D i A g 4 Am rericul Chem. o oy g 18 Am Agricui Chof... et e 65 Am Bank Note(ft3). by Charles E. Bright, manager of the Washington Clearing House Association. Figures available st noon today Alleg Corp pf (538).. BY STANLEY W. PRENOSIL. Allied Ch & Dye (c6) Assoclated Press Financial Editor. NEW YORK, December 31.—The final stock market session of the year today found the bulls making a grand gesture of deflance after their reverses of the past two months by marking up scores of issues 2 to 20 points. The advance, which was most effective in the M.ee.li public utility, railroad and electric: shares, took place on a relatively small volume of trading. Cash sales for the purpose of estabe lishing income tax losses were in une usually heavy volume, estimates of the number of such transactions ranging from one-fifth to one-third of the day’s total trading. Cash trades are cleared today, making any losses taken deductible in 1929 incomes, whereas stocks sold in the ordinary manner are not cleared until Thursday, bringis '} them within the new calendar year. The day’s business news threw little light on the trend of business. Iron Age in its weekly review, pointed out that producers find encouragement in the undiminished demand of the raile roads, the structural steel industry and the farm equipment manufacturers, and in fresh evidence of strength in the scrap market. It further sets forth that the last seven days of December saw ingot oute put at between 40 and 50 per cent of capacity, compared with 85 per cent a Natl Rys Mex 2d pf. . Natl Surety (5). a Symington A........ Telauto Cp (11.25).. Tenn Cop & Ch (1). ‘Texas Corp (3) Tex Gulf Sul (4). Texas & Pac (5). . Texas P C & Ol (b5) ‘Texas Pac Land Tr.. Thatcher Mfg (1.60). The Fair (2. Third Avenue. ... . Thompson J R (3.60) Tide Water Asso 60c Tide Wat Asso pf(6) Timken Roller (3)... Tobacco Products. Tobacco Products Tob Prod dv ctfs A 3 Tob Prod dv ctfs B 215 Tob Prod dv ctfs C. . 5% Transcontinental Ol Truscon Stl (1.20)., Twin City Rp T (4). Und Elllod Fisnr (5) Unton Carbide(2.60). Union Oil of Cal ($2) Union Pacific (10). .., Utd Aircraft&Trans. Utd Alrcraft&T of 3. Utd Biscult (1.60). Utd Carbon (2) 3 Utd Cigar Store: % United Cigar St Utd Corporation 4 Utd Corp of (3) 6 N -3 NY NH & Hart (6) 4 North Am(b10%stk) North Am pt (3) Northern Pac (5 North Pacct (5) 4 Nor Ger Lloyd (3. Oliver Farm Equip. . Olivr Fr Ep cv pt(3), 4 Oltvr Fr Eq pf A(6). Omuibus Corp. ..... Oppenhelm Col (5).. Otis Elevator (18) Otis Steel (23%)..... Owens 1] Bottle(c4) Pacific Gas & E 12)., Facific Lighting (3). Pactfic O1l stubs. Packard Mot (11.10). Pan-Am Petroleum. . Pan-Am Pete B....., mount-F-1 (3).. Park & Tiiford (33). Park Utah. . ® Am Chicle (+2%)... Am Com Aleo(e1.60) s g 18% Am Encaustic (2)... ‘1)’(‘85 sfl‘;rs 078.630.10, 1 23 Am Evropean Sec. .. o 50 Am & For Power e wun 108% 101 Am&Forn Pwr pf(7) i 42 . 17% Am Hawatfan S S (2) the _corresponding 23% Am Hide & Lea pf. .. geeflcfl;im"; 1&"-"1: " 29 Am Ice Co (14) 96 83% Am Ice pf (6). G agnE Chatles E. Brisht. 29% Am Internat (17’ December clearings were also under the " A awite. November canceled check totals, last 31% Am Mol o) month's clearings being $120,261,737.69. Clearings for the 12 months of the present year amounted to $1,481,390,- 72884, against a total of $1.435.725- 602.08 for the vear 1928. This shows a 28 Am Ra&Sa fan 1 gain in clearings during the present 1315 Am‘Repabh year of $45,665,126.76 over a year ago. &0 Am Rol M - The total is also larger than the re- 6/ 48 ‘A SROUY TASCE(BY. turns in 1925, 1926 and 1927, thus I AR banging up the new record for all AT SHIL & O RALARAD RA- » ) S M Jove - £ o & > A Patino Mines (3.89) Penick & Ford (1) 7 ime. 62 Am 8m & Ref (4) Using bank elearings as a business barometer, the indications are that | Deceynber business was not up to last Year, but that the year as a whole has been better than 1928. Manager Bright has records in which clearings by months in 1929 are compared with the corresponding months in 1928, these being as follows: 137.968.283 120.261.737 116:074'630 31481390728 31, Asheville Named for Convention. President Wilmer J. Waller of the District Bankers' Association announced today that Asheville had been selected as the meeting place for the next con- vention of the association. This action was taken by the council of administration after giving careful consideration to several different places for the June session. General Conven- tion Chairman George O. Vass obtained a large amount of information from the different hotels under consideration and presented it to the council in a most complete report. Hot Springs made its usual very strong appeal. White Sulphur was considered for a time, but another con- vention finally took the same dates as the local bankers wished so the West Virginia report took itsself out of the running. It was agreed by the mem- bers of the council that it would be best this year to go to some new place. ently, the convention will be held at the Grove Park Inn Ashville. ‘The circulars state without any blush- ing that this is “the finest resort hotel in the world.” Regardless of this rather sweeping statement, the local bankers, who visited the place to see what con- vention arangements might be made, were delighted with the hotel and the . It has a beautiful loca- tion, all that could be desired in the way of golf links, and all the other attractions at Ashville wlil be placed at the disposal of the local banking fra- ternity. Chairman Vass is much pleased with the liberal entertainment which the hotel has already agreed to furnish. ‘The bankers will have to leave Wash- | ington at 6 p.m. and have dinner on the special. Two diners will be carried to take care of the party. Similar ar- rangements will be made for the re- ' turn trip. Lamont on Business Outlook. Secretary of Commerce Lamont is| highly gratified at the country's ap-| parent success in weathering the stock market crash, he said after a_confer- ence with President Hoover. He pre-! dicted, however, a slack period in build- ing construction and automobile produc- tion in the next few months. During the past year consumption has kept pace with production and stock in- ventories have remained low, Secretary Lamont said. He explained these con- ditions prevented a repetition of the business depression of 1921, when in- ventories were very high. Cheap interest rates have not filtered down through the economic structure of the country sufficiently yvet to affect building materially, Secretary Lamont said. New Bank Director Elected. Andrew D. Loffler, sr., has been elect- ed to the board of directors of the National Bank of Washington, accord- ing to announcement by George L. Starkey, the president. He is a well known Washington business man. Mr. Loffler is vice president of Goble & Co., New York, and in charge of the Keane, Loffler Provision Co. of this Southern Earns $10.93 a Share. Net income of Southern Railway Co. for 11 months ended November 30, 1929, is estimated at $16,958,000 after taxes and charges, equivalent after allowing for dividend requirements on 5 per cent preferred stock, to $10.93 a share earned on 1,300,000 shares of common stock. This compares with $17,265,000 or $11.17 & share in same period of 1928. November net income is estimated at | $954.000 after taxes and charges, against $2,196,000 in November, 1928. Bonds Lead Exchange Trading. Bonds took the lead in the final trad- ing of 1929 on the Washington Stock Exchange. Potomac Electric consoli- dated sold at 100, Washington Rail- way & Electric 45 moved at 83 and Barber & Ross 6':s sold at 88%. Small denominations in Washington Gas series A 6s sold at 100':. The closing bond sale was a $2,000 transaction in Anacostia & Potomac guaranteed 5s, moved at 907, ‘Thirty-five shares of Capital Traction | stock moved at 75, Potomac Electric 512 per cent preferred came out at 105, closing at 104%, and 10 shares of Na- tional Savings & Trust Co. stock again sold at $520 a share. Mergenthaler again moved at 106': ex-dividend and | Park Savings Bank stock sold at 7815 The exchange will be closed tomor. Tow. Financial District Notes. The controller’s office_has approved application for a charter for the Barnett National Bank of Avon Park, Fla, which will be opened for business about January 15. This will be the third new financial institution established recent- ly outside Jacksonville by the Barnett | National Bank. The Virginian Raflway Co., has ap- pealed to the United States Board of Tax Appeals for a review of the charge by the commissioners of internal reve- nue that it still owes $115,606 in in- come tax for 1926 and 1927. ‘The United States Line has declared | & special dividend of 50 cents a share ! on the preferred stock. The issue be- comes cumulative beginning July 1, 1930, at the rate of $1 annually. Gwilym A. Price, trust officer of the Peoples-Pittsburgh Trust Co., has been -mmue a member of the trust de- it committee of the trust com-| pany division, American Bankers' As- soclation. 1231 Am Sm & Ref nf (7). 38 Am Snuff Co (13%).., 35% Am Steel Fav (3).... 40 Am Stores (t234) 56 Am Sugar Rtz (5)... 18 Am Sumatra (3). 193% Am Tel & Tel (9} 160 Am Tobacco (10). 160 Am Tobacco B (t10) 50 Am Water Wks (c1). 97 Am Water W.1st(6’ 5% Am Woolen 15% Am Wool X0 7 Am Zinc LA&Sm. 49% Am Zine of (6). 67% Anaconda Coor 46 Anaconda W&C (3).. 25 Anchor Cap (2.40)... 30 Andes Copper (3)... 18% Archer-Dan-M (2)... 514 Armour Il (A) 00 11950 5350 % ~1 30D e 100 TN TN 10 TN D 020 e 10 O 00 5 D 0 e 10 e 0 50 51 1 1 008 1 80180 53 0129 19 55 o b k0 - B EE LTI AP PSP 20% Art Metal Works(3) 34 Asso Appl Ind (4). 25 Asso Dry G (2%) 195% Atch T & S Fe (10) % 161 Atl Coast Line ($10). 18 Austin Nichols pf. 4 Autosales..... 4% Aviation Corp. Del. .. 15 Baldwin Loco (1.75). 105 Baltimore & Ohto (1) 25 Bendix Aviation (2) 25 Best & Company. 78% Bethlehem Steel (6). 1 116% Bethlebem St pf (79.. 37 Bohn Alumn&B (15). 53 Borden Co (k3) : 26 Borg Warner (4) 18 Booth Fish 1st pf 8l Briggs Mfg. 1'% British Empire Steel 14 Brockway M T (3). 40 Bklyn-Manhat (4)... 99 Bklyn Union Gas (5) 36 Brown Shoe Co (3) 16% Bruns-Balk-Col(3) 4% BrunsTer& Ry S 14 Bucyrus Erie (1).... 26% Bucyruscvpf (234). 8% Budd (EG) (11%).. 7% Budd Wheel (1) 25 Bullard Co (12) 21% Bulo P P T - T T 31% Bush Term (g2)..... 2 Butte Cop & Z (50c). 4% Butte & Superior (2) 17% Butterick Co. 50 Byers (A M) 20 By-Prod Coke (1). 63% Calif Packing (4). am SafSame a3l 73% Calumet & Ariz (10). 25 Calumet & Hec (43%) 45 Canada Dry G A (5). " Cent Agulrre As1%. 27% Cent Alloy Steel (2). 240 Cent RR of N J (+12) 3 Century Rib M1 52% Cerro de Pasco (6) 10% Certain-teed Prod. 18 Checker Cab (4.20) 160 Ches & Ohlo (10).... 42% Chesapeake Corp (3) Chi Great Western. ., e e cRranaandtautaannom 100 ChiR & Pacpf Chickashu C O1l (3 26 Chrysler Corp (3). 39% City Ice & F' (k3.60 74 City Stores (1).. 34' Cluett Peabody (5).. 101 Coca-Cola (4). . % 44% Coca Cola A (3) 10 Collins & Atkman. 27% Colo Fuel & Iron 52 Col Gas & El (2). 3 50 Col G&E rets full pd. 88% 16% Columb Graph(87c. 344 106 Columblan Carb(15). 18 Com Credit i2)...... 28 Comm Credit A'(3).. 28% Coml Inv Tr (g1.60). 9 Com Inv Trst war. 20% Comm Solvents (1).. Commé&So (b5 %8tk Congoleum-Nairn. CongressCgrs t5% Consol Cigar (7).. Consol Film (2). 1 Film pf (3) 1 Gas. NY (4). 92% Consol Gas,NY pf(5) 45 Consol RR Cub pf(6) % Consol Textlle. ..... 12 Container Cor A 1.20. 3% Container Corp B. 25% Contl Baking A. 4% Contl Baking B, 79% Contl Baking of (8).. 40% Contl Can (2% 46% Contl Insur (2.40)... 6% Contl Motors (80¢).. 18 Conti Oil of Del. 28% Contl Shares (1) 70 Corn Prod Refin 20% Coty Ino (g2) 24 Cream of Wh 17 Crosley Radio ($1).. 71 Crucible Steel (k5) Suger.... 1% Cuba Cane Sugar pf. & 100 1 e 00 0 b ] 3 36 Cudahy Packing (4). 6% Curtiss Wright Corp. 18% Curt Wright Corp A. 58 Cutler-Ham (334)... 63 Cuyamel Fruit. 21% Davison Chem. 141% Delaware & Hu 7% 49 385 151 64% 24 Devne & Ray A (13). 1% 6 4 54w 12 Dominion Strs(1.39) 41 98 12614 881G 723 154% 1 108% 100 67% ) [} 4 iay Dept Stors(e2). % Middle States Ofl et. 5 Aissouri Pac pf Gen Outd Ad vtc (2 Gen Refrac (t4%).. Gillette Saf Raz(c5). Gimbel Brother Glidden Co (h2) Gobel (Adolf)...... ¢ Goodrich pf (7) Goodyear Tire (5 .. Gotham Silk H (2%) Graham-Paige...... Granby Copper (8). Grand Silver Stores Grand Stores (c1) Grand Unton. .. Grand Unlon pf (3) Granite City Stl (4) Grt North pf (5). % Grt North vf ct (5). Gt NetfsO. P (a3} Grt West Sug (2.80). i« Grigsby Grunow (3). Gulf Sta Steel (4) fahn Dept Stores, Hahn Dept S pf(834) Hall (W F) (0t1%). Hartman Corp.B 1.20 Hayes Body b8 % stk Hercules Motor 1.80. Hershey Chocolat, Holland Fur (e2%) Houdaflle Her B(2) Household Pra (14) Houston Ofl.... Howe Sound (15). Hud&Man Ry (3.50). Hudson Motor (§) Hupp Motor (£2). 1llinots Central (7)., Independ O11 & G (3) Indian Motor Cycl Indus Ray(b5% stk) Ingersoll-Rand t7% . Inland Steel (3%) Inspiration (4). Insurance shars . Interboro Rap Tran.. Intl Agricultural. Intl Agri pr of (7). Int Bus Mach (c8). t (4 Inter Comb Eng pf. . intl Harvester (234). Intl Harv p2 (7).. Int Hydro El A (e2). Intl Match pf (4). Int Mer Marine etfs.. Int Nickel of Can(1). Intl Pap & P A(2.40). Intl Pap & Pwr B. Intl Pap & Pwr Intl Pap & Pwr pf Intl Printing Ink (3) Intl Rys Cent Am Intl Silver (18). Int Tel & Teleg Inter Dept 8t (2). Intertype (£11%) Investors Equity(3). Island Creek Coal(4) Jewel Tea (4)...... Johns-Manville (3) Jordan Motor Car. Karstadt (R) (1.02). Kautmann DS (1%) Kayser Jullus (4) Kelly-Sprt - o 8 aabfunaulnadreBonnsann Kennecott (5)....... 101 Kimberly-Clark(13). & Kolster Radlo. ..... Kraft Ph Ch (1%). Kresge(SS)Co(1.60) Kresge Dept Stores. . Kress (SH)Co (n1). Kreuger& Toll(1.34) Kroger Gr&Bak(c1). Lambert Co (8 Lee Rubber & Tire. Leh Port Cem (2% ). Leh Val Coal pt (3) Lehigh Valley (t4%) Lehn & Fink (3)..... Libbey Owens (1)... Liggett & My (16)... Ligeett & My B (16). Lima Locomotive. .. Link Belt (2.60).. Liq Carbonic (14%). Loew’s, Inc (13%).. Loew’s Inc pf (6%) Loft Inc. Long Bell Loose- Wiles (2.60. Lorillard (P) Louts & Nash (7). Ludlum Stee! (2). McCall Corp (2%). MeCrory pt (6)..... Mclntype Pore M(1) McKes & Rb pf(3%4). Mack Trucks (6).... Macy (RH)&Co(ct3) Madison Sq G (1%) Marmon Motor (4). . Mathieson Alkill (2) Maytag Co (12)..... Maytaz Co pt (3).... Melville Shoe (1.40). Mengel Company (2) Metro Gold pf (1.89). Mexican Seaboard Miami Coprer (4)... Michigan Steel (13). Mid-Continent P (2). Mid Steel Pr pf 113% Miller Rubber. Minn Moline Mo Kan & Texas.... Mo Kan & Tex pf(7). Missourt Pacific. Mohawk C Mills (3). Monsanto Ch (g1%). Montgomry Ward(3) Mother Lode (40 Motor MeterG & B. . Motor Products 1 Motor Wheel (3). Mullins Mfg. . . Murray Cor(h2% stk dyer(FE)& Bro (3). R ma e S 0o B D 1o S s a0 G N OV N A I’eerless Motor Car. . Penney (J C)....... Penn Dixie Cement. , Penn Dixfe Cemt pf. Pennsvivania RR(4) Pnelps Dodge (3) . 4 Phila Company (17) Phila & Read C & 1. Philip Morris (1). Phillips Pet (c2) Plerce Ofl pt. Plerce Petroleum. .. Pillsbury Fl (123).. Pirellt Co A (2.88)... Pittsburgh Coal pt. Pittsbzh Screw 1.40. - PP AN PN Rk L LT UT - Lol oY T CPUUP T oy v ey Am To (A)7 P Rican Am To (B).. Prairle O&G (123).. Prairie Plpe L (15).. Pressed Steel Car. Pressed Stl C pf (7). 4 Proc & Gamble (2).. 4 Prod & Refiners..... Public S, N J (13.40). o Purity Baker! Radio Corp. Radio pt B (5) . Radlo-Kelth-Orph A. R R Sec1C stk C(4). Raybestos Man 2.60. Reading (4)... Reading 2d pf (2)... « Real Siik (§).. Rem Rand (50¢).... Rem!ng-Rnd 1st (7). Reo Motor (11.40)... Repub Ir & Steel(4). Revere Cop & Bras, Reynolds Spring. Reynolds Tob B Richfield O11 (2). Safeway Stores (e5). St Joseph Lead (13). St L-San Frin pf(6). » Seaboard Air Line pf Seagrave (e1.20).... Sears Roebck (1234). 1. Second Natl Inv. s O 0 OV 00 e RS e A I TN Y S I B Servel Inc. Simmons Co (g3)... Stmms Pet (1.60).... Sinclair Con Of (2). Sinclair Of] pf (8)... Skelly O1l (2)....... Snider Packing pt. .. Solvay Am In pf 51;. So Porto R Sug 12%. Southern Cal Ed (2). Southern Dalries B. . Southern Pacific (§). Southern Rwy (8 Spang-Chalfant..... Sparks Withngtn(1)., Spencer Kelg (1.60). Spicer Mfg .o Stapa Bran S a= White Wilson 134% s aed ons o 1815 45 ga OB o tradin 16% aPaid lnst year—no 21% in_ stock. JPI able 2114 : us 107 i stock 264 27h ot United Elec Coal Utd Frult (e4). Utd Gas & Imp(1.20) Utd Gas & im pf(5).. Utd Paperboard. Utd Stores pt U S & Foreign Secur Univ Pipe & Rad. Util Pwr Lt, A (e2) Vadsco Sales Corp. . Vanadium (+4)..... Vick Chemical (212). Virginia-Car Chem. . Virginia-Car 6% pt. Wabash oone Waldort Systm (1%) Walworth Co (2).... rd B rren Fy&Pipe(2). Warner-Quinian (2). Warren Bros (19)... Wells Fargo. ....... Wess Ol & Snow(2). Wess O & Sn ot (4 Western Marylan Western Md 2d pt. Western Pacific, Western Unton Westngh Alr Brk(2). inghse E&M(5) Weston El Inst (1) Weston El A (2). White Motors (2)... WhiteRock M S (14) White Sewing Mach. Wilcox Oil & Gas.... Wilcox Rich(A)2% Wileox Rich B (e2).. Willys-Over (¢1.20) & Co.. Wilson & Co A. Woolworth (3.40) Worthington Pump.. Young Spring (3). Young Sheet & T (5) Zenith Radlo (3).... b 71 | vear. Am Rollg M..Feb 15 Col. Carbon. -1 786,800 55 i3 in preferre ula .k Plus 1 a share in’stoc} year ago, buf improvement is already under way, and the current week will find production at 55 to 69 per cent 1n the valleys, at 60 per cent at Chicago and 65 per cent at Pittsburgh. Among the many stocks to advance 4 points or more were Republic Steel Westinghouse -Electric, Simmons Co, Atchison, Canadian Pacific and Jersey Central. United States Steel, which so0ld down to 156% in the recent reaction, crossed 170 for a gain of more thaw (} filnm, and then ran into some profit- aking. Active bidding for a wide assortment of specialtics featured the late dealings, | American Tobacco B, Eastman Kodak, Standard Gas & Electrie, Burroughy Adding Machine and Underwood-Elliotte Fisher were among the many stocky rising 4 to 7 points. Union Pacifig gained 5 and American Water ‘Works and Westinghouse Electric extended their earlier gains considerably. The closing tone was strong. Total sales approximated 2,700,000 shares, ERE =P TP T L e ST T T T o a Gt aS AN B e Corporation News NEW YORK, December 31.—The fols lowing is today’s summary of importanf corporation news prepared by Standai Statistics Co., Inc.,, New York, for th¢ Assoclated Press: News Trend. Preliminary report on holiday tra of the leading department stores ‘)n metropolitan area of New York for t] first 24 days of December shows sal increases of about 2 per cent over thy corresponding period of last year, Asy suming reports for month wiil show average increase of 2 per cent, tof sales for the year will show an increasy of 4 per cent over those of last year the largest gain since 1926, Further rallroad earning reports cony tinue the trend of the earlier state. ments. The first 68 roads to report foj November show net operating income of $79,301,000, as compared with $107,845,¢ 000 a year ago, a decline of 26 per cent Corporation items of interest were thi appointment of receivers for New Yorl State Railways and the United Tracti Co. and the filing of bankruptey act! against the Stutz Motor Car Co. The Companies. | 134 | Archer Daniels Midland earned 7} % 361 |cents in quarter ended November 2 1084 [ against 71 cents in same quarter S = SokrruaarrameSaZanm man s agle O11 (3 BTN 1TSS Buffalo & Susquehanna November Off 48.2 per cent; 11 months, up 11 2| per cent. e 2%| H. M. Byllesby & Co. declares spec 244 | dividend of 1-20 share of class A stoc 2% | on class A and B common shares, 1241 Canada Power & Paper to wnlm 1929 newsprint prices during first of 1930. s s ¥ 51,100 61,600 Dominion Stores 1929 sales €lven in the above table are nual cash | at $24,900,000, against $23,257,507 Quarterly or haif. ons. | 1928 an 100 shares. arat 3 T Duplan Silk earned $1.63 in 6 mon! inst $1.45 a e 1,2 es. BRIty exien extr 4" stock r rate. b P § 3 ':l!.gn sarmea. " & e dn, stocl ¢ | to November 30, aga Tus 6 ago. Federal Light & Traction ’umed 2.9 CLERK WITH GRL 5 SHOT 10 DEAT TRUST CO. PASSES TO NEW OWNERSHIP Special Dispatch to The Star. BALTIMORE, December 31.—Con- trolling interest in the Continental Trust Co. was taken over by a financial group Killed With Own Pistol,|neaded by Alexander Brown & Sons, fol. Sweetheart Believes Trag- edy Was Accident. Spectal Dispatch to The Star. WINCHESTER, Va., December 31.— Authorities of Jefferson County, W. Va., were investigating today the mysterious shooting late last night of Ralph Stros- nider, Winchester bank clerk, in the presence of his sweetheart, Miss: Ethel Hartman, also of this city, in front of the home of Mr. and Mrs. James Marshall, at Summit Point, W. Va. Strosnider was shot with his own automatic pistol. Miss Hartman said he staggered toward the gate, saying, “I believe I'm shot,” and slumped down dead. She said the shooting no doubt was accidental. William and Mary Student. Miss Hartman, a student at William and Mary College, Willlamsburg, Va,, home for the Christmas holidays, had been spending a few days 8s & guest of the Marshalls, and with Strosnider had attended a motion picture show here last night. She said Strosnider had accompanied her back to the Mar- shall home, and intended to return to his own home here. She had alighted from the automobile and had started toward the Marshall house, but stopped to wait for her escort. She said he had a pistol in a holster on the front seat, and as he removed it from the holster it struck against the steering wheel of the car, inflicting the fatal shot. She said she could not ex- plain why he wished to carry the pistol to the house, only about a hundred feet distant. Declared Engaged. The two were to have been married next Summer, it was said. Miss Hart- man is a daughter of C. S. Hartman, Pennsylvania Railway mail clerk, and prominent in _Centenary Reformed Church young peoples’ circles, Stros- nider was a son of Amon Strosnider, a 86% | Winchester police officer. -— STOCK FIRM SUSPENDED. NEW YORK. December 31 (#).—The Cincinnati stock brokerage firm of Rob- erts & Hall, for which a receiver was appointed yesterday, in that city, was suspended from the New York Stock Exchange today. The firm consists of Walker P. Hall, ficor member, and John N. Roberts. fy lowing final confirmatory action by the Continental board of directors yester- day. The change was accomplished by sell- ing to the Brown group a large share of the stock held by the S. Davies Warfield estate. Warfleld, who had been head of the Continental until his recent death, held the great majority of the stock. The official statement, given out by William J. Casey, who succeeded War- field, gave none of the details of the transaction. The price was not stated. | It is known, nevertheless, that it was | Approximately $225 a share. The pur- chasers’ payment amounted to approxi- | mately $700,000. Rumors of the Continental sale had been current for several weeks, but it was generally believed the Mercantile Trust Co. was the purchaser. As a mat- ter of fact, negotiations with the Mer- cantile had been carried on, but after many proposals and counterproposals were abandoned. B. Howell Griswold, head of Alexan- der Brown & Sons, would not comment on the purchase, nor would he reveal who are the other members of the group. .. CRUDE OIL OUTPUT DECREASES FURTHER By the Assoclated Press. TULSA, Okla., December 31.—Crude oll production in the United States reg- istered another downward swing, with a loss of 25260 barrels in the total daily average for the week ended De- cember 28, the Oil and Gas Journal says today. The total daily average output was 2,595,320 barrels, compared with 2,620, 580 barrels for the previous week. Increases in the Oklahoma City and Northern miscellaneous pools checked the decline of the past three weeks in Oklahoma and the State showed a total gain of 11,845 barrels. The chlef drop was in the California fields, which fell off 12,500 barrels in light and 5,000 in heavy crude. The midcontinent area declined approxi- mately 500 barrels in light crude and 1.500 in heavy. West Texas area pro- vided 6,024 barrels of the decline, off- setting Oklahoma's light crude gain. General reductions in the Gulf Coast and Southwest Texas heavy and Rocky Mountain areas were reported, with the Eastern section advancing slightly. Santa Fe Springs deep-drilling area in in 12 months to October 3: Ford Motur schedules 2,500,000 mm;‘a CHICAGO LIVE STOCK MARKET |° Dassenger cars and trucks for 19 International Telephone & Telegra) CHICAGO, December 31 (#)— |1929 earnings uumlad at $3.50, llli!fl (United States Department of Agricul- | $3:42 in 1928, ichi . R. ture).—Hogs—Recelpts, 30,000 head; in- | off 35 pon orr T i - cluding 5,000 head direct; market most- CH)I'L Irogl .k yu': ago. 1y 15 to 25 lower; largely 25 lower; top, | New York State Railways receiven 9.70 paid for 150-170 pound weights; | *Phornted by U. 8. District Court. uthern Railway (system) earn bulk, 140-250 pounds, 9.40a9.60; heavy | $10.93 in -- months '.oyNovember butchers down to 9.25; butchers, me- llfls‘;l'lifll!" '1"&” a uyoelrl ul:a. nternational increases annua dium to choice, 250-300 pounds, 9.158 | 4, itert Taterna $2.50, formerly $2. 9.40; 200-250 pounds, 9.25a9.60; 160- United Gas offers minority s 200 pounds, 9.25a9.70; 130-160 pounds, | holders of Houston Gulf Gas one sha: 9.2589.70; packing sows, 8.00a8.65; pigs, United Gas for each two shares . medium to cholce, 90-130 pounds, 9.008 | " Westarn Facific B. R, Co. earney 2.14 in 11 mont Ctle—Recelpts, 6,000 head: calves, | Sgainst 31102 1 oninoy o, November 30 receipts, 2,000 head; SUpDIy of fed steers | Zonith Fasiis Sore o 98-y $495. and yearlings comparatively light; bet- models; prices range m 'fl; ki{:‘d’ mn‘ Icllvfl: Dub‘:“ lte:g“, -— at she s generally steady; s strong: vealers weak to 50 lower; stock-| MONTGOMERY WARD SALES. 4 in excess q another record for th s |lnd ‘l g:ln in 10 per cent ove fed. yg“"fl‘.’,s ';?dl;';.g ”;:“ff' 150-930 | the sales o cember, 1928. pounds, 12. .25; heifers, good and choice, 850 pounds’ down, 11.65 to PARIS BOURSE PRICES. 15.00; common and medium, 7.75 to PAI;‘XS, D“,f,"“!,f,' ",4,,“.’""’"“ ‘were firm on t urse . re Pt D 3 1o | er cent rentes, 84 francs 35 centimer bulls, good and choice (beef), 9.25 | filve per cent loan, 107 francs 70 cen 10 9.75; cutter to medium, 6.75 to 9.4 : yealers (milk fed). good and cholce, |, Txchange on London. 123 francs 13.50 to 16.50; medium, 12.00 to 13.50; | feN ] e T UONE R N cull and common, 7.25 to 12.00; stocker | francs 38 centimes. and feeder steers, good and choice, all < g ights, 10.50 to 10.90; common and MARKET. medium, 8.35 to 10.25, MONEY T Sheep—Receipts, 10,000 head; market ( NEW YORK, December 31 (#).—Ca] slow Aeound. stendy; . early salos . fot | money stead: 3.6 per cent all lambs, 12.75 to 13.00; early top, 13.25 to [ loans steady;* 30 days, 4: outsiders: fat ewes, 5.25 to 5.75; feeding | d2ys, 4%-5; 4-6 months, 43-5." lambs, steady; lambs, good and choice, | Prime commercial paper, 5-515, 92 pounds down, 12.50 to 13.50; medium, | Bankers' acceptances unchanged. 1150 to 12.50; comman, 10.90 to 11.80; ————— ewes, medium to choice, 150 pounds down, 4.50 to 6.00; cull and common, SILVER QUOTATIONS. 2.50 to 5.00; feeder lambs, good and| NEW YORK, December 31 (#).—Ba choice, 11.50 to 12.65. silver, 463;; Mexican dollars, 35, Baldwin Co. Financing. TREASURY CERTIFICATES. NEW YORK, December 31 —Directors | _ (Reported by of the Baldwin Locomotive works, it | BAteoMewrty - was reported today, will ask authority [ 47 June 1s. at_the next annual meeting of stock- [ 3!ss Sept. 15. holders to increase the company's | 3.5 funded debt. The Baldwin Co. has|3'is not done any outside financing since e the present corporation was formed, in Io11, obtaining its “money require-| fiongcll:efbxwal ments out of earnings or through tem- | (Quotations nioll!llll’l.oh al .&a 5" HE Dec. porary banking accommodations. = o und._VNue ‘"f?;‘ e CALL MONEY RATES. ru e ] NEW YORK, December 31 (#).—The Fome. iy K average renewal rate for call money in ) Ziric December was 4.85 per cent, compared with 5.38 per cent in November, 6.35 p4 e r_cent in October and 8.75 per cent ¢ (1 g December, 1928. The high P"lht: {l:'r Warsaw, California dropped 12,000 barrels. the month was 6 per cent and rate §.°r.""é:§5"§' crown. per cent. tockholm, crow: