Evening Star Newspaper, January 4, 1930, Page 21

FINANCIAL. CURB ISSUES FIRM || NEW YORK CURB MARKE AT SHORT SESSON Trading Quiet as Market/ Resumes Upward Trend of Recent Days. BY JOHN A. CRONE. @pecial Dispatch to The Star. NEW YORK. January 4 Which was a resumption of the trend at the previous close. Moderate strength and dullness, except in utility issues, were the outstanding characteristics of | trading. Commonwealth and Southern war- rants advanced. reflecting the strength | of the common shares of the Morgan utility over on the big board. One block of 17.000 warrants, the largest transac- tion in any stock in the first half hour. came out at 4'x. Sympathetic strength was displayed by Niagara Hudson Power. Electric - finance and holding com- —Public utilities led the rally on the Curb today. | 1929.~ Stock a Sales— Low Dividena Aad 00 3 Alrlovestorsvie.. 2 1% Alexander indust " Allled Aviation 23 Allied Pow & Lt 71 ANP&L1stpf 40 Allied Pwr& Lt pfe3) 164 Am Chain (3). 76 Am Cigar Co 3 P9% Am Cit PEL A (31, 0 AmCP&L R 1b10%) 18 AmCwithPAbI0% Am Cwlith P.B b10% 20% Am Cyanam B (1 60) 141x Am Equities 25' Am For Power war Am Gas&Elec 111). Am Invest Inc B Am Investors (war). Am Lt & Trac (10). Am Mfz Co (3).. 1's Am Maracaibo 184 Am St Pub S(A)160. 15 Am Superpower «1). B9% Am Super Ist of (6 Am Yvette (new)wl. Anglo-Am vou (73c). Anglo-Am n-v (i3c). RECtBALE AT TUDS, & Ariz Globe Covper. . 3% Arkansas Nat Gas.. 613 Arkansas Nat Gas A 90 Ark Po & Lt pf 64 3 a0 11 11 panies, utility investment trusts and trading concerns and power and light | operating companies. in order named, | headed the upward side of the market. | Electric Bond & Share. American & | Foreign Power, United Light & Power | A. American Superpower and Insull | Utility Investment were the early lead- | ers. They weie foliowed by Allied | Power & Light, Electric Power Asso-| ciates and Consolidated Gas of Bal- timore. Natural gas stocks also received the attention of professional traders. Lone Star Gas in the first half hour was run up to 37!, up 1'» points. Arkansas Memphis and United Gas issues rose fractionally. Dullness marked the mine group, | while Dayton Airplane Engine in early trading was the only aciive air share to appear on the tape. Respondnig to an official estimate of $50,000,000 for 1929 sales, General Bak- ing common and preferred shares | gained slightly. Completion of a big well brought activity and strength for a time into Indian Territory Iluminat- 1‘;:3 Oil Co., a subsidiary of Cities Serv- e. The sharp recovery of Ford Motor of Canada B non-voting shares featured | motor dealings. Stutz pointed higher | and Durant was a trifle better despite | price cuts announced by various motor | manufacturers. | Although Commonwealth and South- | ern Warrants led in early trading, they | were displaced as favorites in the last half hour by Niagara Hudson Power, one block of which, 10,000 shares. came out at 13'i, up a point, and Niagara Shares, which ;umped in a few sales from 18% to 197. Motors displayed a_flash of speed, | with Ford Motor of Canada B shares | the outstanding performer. The curb | admitted to listing today shares of Gen- ! eral Electric Co.. a French corporation. | Dealings in industrials continued light | right up to the close. | COMMODITY PRICES | GAIN DURING WEEK Commodity prices advanced one-tenth | of 1 per cent for the week ended De- cember 28. according to the wholesale price index of the National Fertilizer Association. ‘This advance offsets the equal decline of the preceding week. and the index now stands at 95 per cent of the 1926- 1928 average and 0.7 per cent lower | than for the first week of December. Material advances occurred in cotton, butter, wheat, oats, hogs and lambs. Significant declines occurred in certain foods, corn and lumber. A total of 20 items declined and 20 advanced. BONDS ON THE CURB MAREKET. Sales in thousands. 2 Alabama Pow Ss ‘86 2 Alabama Pow 4135 BAla Pow 55 ‘68 993, 993, i Cmwlth P 6s “49. 1023, 102 5528 981% 9574 ¢ & L 6k 2016106 ' 108 Roll M 55 '48.... 98 97, a8 '38 xw. 921, 9214 Pow 55 56, 97%a 973, Lt 88 DOMESTIC BONDS. { High. Low. Close. | 10175 1017, 1017 8412 941, 04); > B IS 1 86%; 8612 i35 ‘44 C 101 = 101 Valve 65 42 ww 102 102 ‘el Can 5s A '35 101 1 Tel Can '87. 10115 101 Can Pac Ry 3% "54. . 100'4 100 8Carolina P & L 5s '56 10015 1001% 7Cent St El 5t38 'S4.. 7413 13% Ghic Ry c'o d 5 "2, 13 Cittes Ser 55 '66..... 831, 2 Cities Ser G 51, '42. 841 1Cities Ser P 51ix '52 3Cleve EI Tl 55 A '54. 1 1Cleve Term Be s '41 2 Cmwith Ed 41os D '57 11 Consumers P 4135 ‘38 2Cent G & E 5s 3 Cudahy P 5158 137 15 Denv & Salt L €5 ‘60 1Detroit C G 65 A '47 1 Detroit € G_5s B '50 32 Detroit Ed 55 '49 A 102 18 Det Int Bre 638 52 1Dix GG 6725 A 37 ww 1EL PN G 8las 43 ww 9 Federal Wat’ 5128 '3 S Pirest Cot M 53 7 Firestone Tire 3s 5 Fla Pow & Lt 5t 5 Garlock Pack 68 ‘39 11 G s :;g 11 83 83 943, 941, 9217 9210 967 9614 20 a3 n A T 5s '52 xw.. 1Gen Ind Alc &' 44 14Gen Thea Eq 6s '44.. 16 Georgia Pow 5¢ 61 2Gulf St Util 55 A " 11Indep Oil 6s "398 2 Indianao PAL 55 A '57 98'2 98', 8Interl Sec Am 85 '47. 82 ° 80 18 Inters N G_6s '36 xw 1001 100% 7 Interstate Pow 65 '52 81'; 80, € Inters Pow 5s '57 89 89 11Invest Co 5% A 47 xw 90 31 Koppers G&C 85 9612 4 Laciede Gas 8':s '35° 99!, 8 Lehigh P S 6s A 2026 103!, 103 4 Lone Star Gas 5z "42. 96'2 9 Long Isl Lt 6s ‘45 1n4 Manito Pw 5',5 A '51 99, 5 Memphis Nat G 6s 43 957, 8 Meith Bd 4135 O 933 12 Miss Riv F 65 - Tont 'L HAP 55 A 1 Narragancett '5¢ INat B & L 65 A 48 Nat Pub Ser 2 New Eng GAE 23 9912 98 o8 " 977, 56 943, 94 10234 10234 Pac G&E 4%is E '3 Pn Weg O 618 43 2Ry heil Un Oil 5s 49.. nider Pack 6s "32 EP & L 65 A ou Cal Ed 55 'S outh Cal Fd 5s ouwest PLL 65 A taley Mfg 6s '42 d Ty 5ias 3 28 57 9815 P&L id R 6758 42, 15 1 ot 0 2. 101 22 103 L om 2 @ N0 e o TS Alres Pr Tigs nile Cons 7Ts 60 iile Mtige Bk G5 Som Priv Bk 51y an Tel 1145 A s ‘44 2 Ger Cons Muu €s 47 4 Hamburg 1 7s '85.. .. 4 Hamburg El 7 '35 4 Hanover City s '3§.. 3 Hanover Cred €5 31 Isarco Hyd El s 52 61t Sup P 65 A 63 xw 1 Nippon El P 6'as ‘53 @ Prussia F S 6'3s '51., 1Prussia P 8 6s '52 TRUNE G C 618 A 5 1 Rumania Tnet 75 '59 3 Flivaian #17x 19 14 Rliss 6755 ctfe N G 19 2 &tinnes 75 48 x 15% Art Metal Works(3 5y Asso Kirc Ind Lid 36l Asso € A (1280), g Asso ( A deb ris 20 At Coast Fish (1.40) ¥ Atlant Fruit & Sug.. % Auto Voting Mach... 154 Aut V Mevprot 2) 80 Axton-F Tob A 3.20. 1% Bania Corp . " 461: Bancomit new(1.60). 14 Bickfords, Ine (1) 30 Blaw-Knox Co (1).. 3% Blue Ridge Corp. .. » Blue R Corp cv pf 13 Buf N&I P of «160) 3% Burma Corp (t31¢).. 1% Cah& WireLtdB rcts., s CTAMCoectfs, 3 Can Marcont 1 Carfb Syndicate. 4'%4 Carnegie Metals. 80 Celan Cor Ist pf (7). 6 Cent Atlantic States 20 Cent PSv A (al 7). 12 Cen States Kl (340c) 4t Centrifug Pipe (60c) Cities Service (130c) Club Alum Uten e 1% Comwlth & Sou war. 4 Consolidated Copper 121s Con Dairy Prod (12) %1 Con Gas, Balto(3.60) 214 Cons Instrument. Cons Laundrie 10 Continental O11. 10 CoriCorp.. 5% Creocle Petroleum. % Cresson Cons (.08).. 294 Crowley Milner (2). 1y Curtiss Wright war. 3 De Forest Radlo .. 412 DH A Ltd retn(50¢) 2 Derby Oil & Refin. .. 5% Detroit Alrcraft Cor 3% Durant Moters 14 Duval Tex. Sul. w.i.. 17 EastStates Power B 7 Eastern Util inv A.. 10 Eisler Elec Corp 50 kI Bond & Sh (b6) 100 El Bond & Sh pt 15 Kl Pow Assoclates. . 14 El Pow Assoclates A 3% Kl Sharenold 131) 45% EI Sharehold pf (6). 14 Empire Fire Ins. 14% Emp Pub Sv,A(1.80). 3 Fairchild Aviation. . 10 Falcon Lead, ... 5% Fansteel Products 20 Fed Screw (13%). 15% Fial Stk d 8 Fokker Aatreraft. 15 Ford Motor Can A.. 30 Ford Motor Can B 3 Ford Mot of France. 10% Ford Motor Ltd. 20 Fourth Nat Inv. 5 FoxTheatClA £% Gen Am Invest new.. 2in General Baking 45 Genera: Bak pf (6).. 7% Gen I Ltd rcta (50¢) 19 Gen Empire Corp. 29'% Gen Fireproof (12 13'4 Gen Gas & El (A). 10 Gen indus Alconol 60 Gen R & Uil pt (6).. 24 Gen Theat Equip vte 11'; Giobe Underwriters. » Gold Coin 2% Golden Ce 3 i Eln 32 Goldman Sachs (b§) 25 Gorbum Lnc pt 1% Goth Knitbac Maeh. 114 Gr A &P Teanf (7). 10 Groc Stors Prod vte. 18 Ground Gripr(t1%). 115 GuifOlfof Pa (134). 2 H'd Page p pf (19¢).. 27% Haygari Corp. .. 34 Helena Rubenstein. . 6 Hudson Bay M & 8. 74% Humble Oil (33).... 27 Hydro El Service(2). 10 Hygrade Food Prod. 260 IlYinols P L (20).... 22 Imp Ol Can n (50¢). 26 Ind P Lnew (123). 5 Indian Terr lllum. .. 26 Insull Ut. Inv. (b6%) 70 insull Utin 2d pf6. 1 52 InsCoNA (1234)... 17 insurance Sec (1.40) % Intercontinent Petn 15 Intl Petrol, n(62%c) 5 Internat Produets. .. 5% Intl Superpower (31) 3 Internatl Ut B. 10 Interstate Equitie 6% Itallan Superpow A.. 2 10 4 5 3 104 3 9 1 . 1 1 1 4 3 3 2 5 1 2 6 7 50 3 6 2 3 2 4 5By b2 1 35 Open Mign Low Close | Hirh. THE EVENING STAR, WASHINGTO —Prey 1929.— Low. 2 1% 120 247 1 90 63 12% 28 2% % 28 1 Bix 5 18 21 & 2 % 20 Jonas & Lehman Mer & M Milgrim % Mo-Kan ag1 991x Montec: Moore Drop Frg A. Morison Nat Amer Co (2).. Nat Aviatton . Nat Ruking pf (7). Natl Fam Nat Investors (new) Nat Union Radio. Nehi Corpn (1301, Neki Corp pf (5% New Brad Oil 16uc) N Y Invest (120) N Y Pet Niles Bement Pond Niagara Niag Hud Pw A war, Niag Hud Pw B wi Niagara North Am Aviation. Novadel Agene (2) Ohto Copper Ohio Oil (1. Outhd Mot A +1.80) Outhoard Motor (B). Pac G&El 1st pf 1%, Pandem Pantepec Oil. .. Parm C Mfg (240). Penn Ohio Ed (1), Penn Ohjo Ed pf (6). 'enrrond Corp. ... Pepperell Mfg Co (8) 30 Petrol Corpcitg). I'hilip Morris ine . Pilot Rad T. A(1.20), Pittsbgh Plate G 3. Power Securities pf. Premier Prince & Whitely. .. Prince&Whitely pf 3 Prudential Inv. Pub Utl] Hold war .. Products (2).. Kainbow Lum ProdA Rainbow Lum ProdB Reliance Managemnt Iteynolax Hros Ine. . Reyuolds Met, n 2.40. Rike Kumler ( Rockland L & St Regls Paper (1).. 8t Rekls Paper pf(7) 50s Salt Creek Prod 12). Seiberling Rubber-. .. Ra Selected Sel Ind allot ofs 6 b . Shndoah Corp(b6% ) Schulte Un be-$1 St. Shenan Corp pf (3).. Sterra Pac Elee (2). Silica Gel ct. Sisto Fin Corp. . So Penn Ol (1214).. S'east P&L pr pt (5). So Cal Kd pfB(1%) Soutnern Corp. .. Southland Roy (1).. S W GasUtl....... Southw P&L pf (1) % Standard Motors. ... Stand Oil. Ind(12%) . Stand Oil, Kan 123 Stand Oil. Ky (12.20 Stein Cosmeties Ine. Stutz Motor Car Sunray Oll (4Ce). Syrac Wash M B 1) Taggart U 8 Foll Vacuum % 5% e 7 W 181 1 : 13 214 | T | 331 k) 1n % A3 nt. df eash or stock. Stock and Dividend Rate. Kirby Petroleum. IKlein (H) pt pf (12). Knott Corp (2.40)... Kolster-Hr tAm Sh), Leh Coal & Nav (4). Lily T Cup (150).... Lone Star, new (80¢) Loulsiana Lan & Ex. Magdalena Syndicat Marine Mid Cp (1.20) Mavis Bottling. . Memph Nat Gas Co.. Middle WstUt(b8%) Midl United (b1} Moh H P 1st pf (1) Moh Hud P 2d pf(7).12 Tampa Electrie (32). Taylor Milling (13) Thermold Co (2). Third Nat Inv (1)... Thomp Prod A 12.40. Transamer ($1.60).. Tran Con Alr Tran.. Trans Alr Trans cfs. Tri-Continental Cor. Tri-Cont Corp pf (8) Trunz Pork Stores. . Tub Art Stik B (10). 150 Tung-Sol Lamp (2). Ungerleider Fin Corp Un NG Can (11.60). Union Tobacco United Ch pt pf (3). United Corp war. United Elec Ser. United Gas Co. ..... Unit Lt&Pwr,A (60c) Utd Lt & Po pf (6).. TUnit Ret Ch pf (3% ). U S Lines. . Unit Verde Ext (4).. Util Power&Lt(21). Utility & Ind. .. Utllity Eaquitie Van Camp Packing. Walker (H) (1). Watson (J W) Co Wayne Pump. Wenden Copper. . Wilson Jones (3). Winter (Benj) “Y" Ol & Gas. . Zonite Prod (1.60) RIGHTS. So. Cal. E .07 Trans Corp e in doliars based on iividend. tPartly extra ® Payabie in ! Received by Private Wire Direct to;The Star Office Snles— Add 00. Open. L % 1% 19% 25 1 103 ) 18% Naumburg. 2 1% 20 25 1 108 6% 18% 371y 174 191 25 1 108 6% 181 264 3 1 (The) Corp. 1 * 33 1% 1 | | 34 1n Ine 4120, DB RIS T 00D 2 e % %) & Bros. P L5% " 3008 tini deb rts. Elec (11). sov | 184 ¢ 1| 4wl 16% | 74 2% 24's 167 201 | 1w Strs (1.60) Royalty (1) Hud P(40c) 2 Shars b1-40. 190 | 5! 225 | Tl | 10% | T | 261 1% | 2w 12% 54 95 [N 3 108 13 . 3 Gold «24c). 20) 1 g 34 3 5 2 industries. 1 7 E 1 1 1 1 2 8 1 408 4 L Cerp (1). e PRI -1 TSTUPA TR SRR S B (1), o1l (14%)., B et i 20% Eapire. Apr. 12 Jan. 4 dison. 1 2% 11 .09 .10 .09 .09 Iast quarteriy or semi- T8 In stock. s Payable in o In Dreferred atoek. . tPlus tock.” d P STOCK LIQUIDATION BELIEVED COMPLETE| By the Associated Press. NEW YORK. January 4.—Wall Street accepted the December report of the Stock Exchange on member borrowings as indicating that liquidation in the stock market had been rather generally completed by the end of November. Following two months of consecutive decline which cut the total of such borrowings by more than 50 per cent, the figures for December, as anticipated, showed only a nominal change, a fur- ther drop of $27,088496. This negligi- ble change, if it did nothing more, of- fered testimony of the trading char- acter of the market during the month. That a fairly heavy volume of time loans running from fhree to six months and maturing during December were not renewed for the reason that easier conditions are expected to prevail for some time to come is indicated from the drop of $106,000,000 in loans of that character. Arother sign of fair weather market- wise is found in rather widespread move by commission houses in the directien of reducing margin requirements. Only a few months ago the trend was gen- erally toward higher marginal require- ments, with each spectacular advance seemingly inducing member firms to boost their requirements accordingly. Now, however, with the market heavily liquidated and trading conditions gen- erally approaching normal, many firms are moving to cut such requirements as a means of attracting Tiew business. One large firm, following the lead of a number of others, has, for example, announced that it is now ready to fe- cept marginal business in securities listed on the Stock Exchange on a 256 per cent basls, as contrasted with the 33Y4 per cent basis in force heretofore. TR Boer War Hero Gets Medal, FRIEDERICHSHAFEN, Germany (#), —Belated honor has come to Count Harras von Zeppelin, killed 30 years ago in the battle of Elandslasgte in the Boer war. His relatives have just re- ceived a medal in commemoration of xd—Ex-dividend wi—_When issued, n—New ww_With warrants. ZW—Without warrants. his herniem. He was a nephew of the inventor of the dirigible airship, and the Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md, January 4.— Poultry, alive—Turkeys, pound, 28a3: old toms, 25a26: Spring chickens, 26a 30: Leghorns, 22a34; old hens, 22a3 Leghorns, 22a24; old roosters, 17al ducks, 16a28; geese, 18a24; guinea fowl, each, 40a50; pigeons, pair, 25. Eggs—Receipts, 1.208 - cases: native and nearby firsts, 45; pullets, 40; hen- nery whites, firsts, dozen, 45a46; culls and dirty eggs, 25a30. Butter—Good to fancy creamery, pound, 34ad0: ladles, 30a32; store packed, 20; rolls, 27429; process, 36a37. Vegetable Prices. Potatoes, white, barrel, 1.50a4.00; 100 pound sacks, 1.75a2.65; sweet potatoes, b 1.5043.00; yams, barrel, .00; beets, cr: 2.7523.00; hamper, 1.50a2.75; cabbage, 40a65; carrots, flower, crate, 1.50a2.0f | 1.50a325; eggplant, crate, lettuce, crate, 4.50a5.25; kale, 1.25a1.50: onions, 100 pounds, 200; peppers, crate, 3.00a5.00° peas, | crate, 4.50: parsnips, basket, 50a65; | spinach bushel, hamper, 25a35; apples, | bushel, 75a2.25; cranberries, box, 3.00a 4.75; grapefruit, box, 2.50a4.75; oranges, | box, 2.15a4.50; tangerines. box, 1.25a 2.50; strawberries, quart, 40a45. CHICAGO, January 4 (Special).— Wheat started sharply lower today under general selling based on weak- ness in Liverpool. That market closed 2 to 21y lower, owing to fuvther offer- ings of wheat from Russia. After the first half hour March was 1.2844; May, 1.82%; July, 1.8 ith wheat. March Corn was weak was 91; an, 941:; July, 9615, el grains. July, 473,. barrel, 1.75a Oats weakened with other March was 4714; May, 487, Provisions were unchanged. Organizes Realty Corporation, NEW YORK, January 4 (#)—The General Electric Co. has organized the General Electric Realty Corporation as a holding and supervising company for its property, aside from factories, Man- agement of the dozen or more ware- houses in various parts of the country | last vear. | were as follows: | 595,00 PROPOSED BUILDING OPERATIONS GAIN By the Associated Pre NEW YORK, January 4.—Proposed heavy construction operations an- nounced throughout the country in the past week revealed a high rate of activ- ity in miscellaneous, commercial, resi- dential and educational building proj- ects, the McGraw-Hill Construction Daily reports. Residential buildings, which include apartment houses and hotels, were valued at $13,125,000, show- ing the highest total in five weeks. All classes of construction w valued at $95,795,000, which compares with $119,- 275,000 in - the preceding week and $105,450,000 in the corresponding week | The sums involved for each group Resldential buildings, mercial buildings, $16, educational buildings, ’ 490,000; public work, $9,149,000; indus. trial buildings, $9,925,000: airway im- provements, $6,075,000; hospitals, $3,- 545,000; unclassified jobs, $25,889,000. A five-year construction program, in- volving the expenditure of approxi- mately $100,000,000, was announced during the week by the Chesapeake & Potomac Telephone Co. of Washington, D. C. The work to be earried out will include the erection of new exchange bulldings and the installation of e ntral office and conduit cable equipment. New construction and improvements on properties in Delaware and Penn- sylvania will cost the Delaware Power & Light Co. and the Delaware Electric Power Co. $2.862,000 in 1930. An office building in Atlanta, Ga., will soon be bullt at u cost of $2,500,000. $13,125,000; com St BALTIMORE STOCKS. BALTIMORE, January 4,— STOCKS, 45 Arundel Corporation. 325 Baltimore Trust Cor 5 Black & Decker pfd 10 Commercial Credit s 100 Delion Tire & Rubber c 18 Eastern Rolling Mills com. 42 Finance Co. of Americ: 10 First National Bank. 52 Manufacturers' Finan 100 Marylard Casuaity Co erchants iners” 3 Mt. Vi medal has been placed in the Zeppelin Museum here, will be co-ordinat under the new ‘mflofi. 18000 United Railwazs & Eise. 1st ds... A jabout what had been expected and | trict line have increased, no ice having jend market, the pike being in demand | 48a50; current receipts, 47a48. ! ers, 38a40; fow 127: ducks, 28a30 ! demand. Lima beans, product of Mexico, {received in the best possible condition, D. C., SATURDAY, TRADING IS NORMAL AT D. C. MARKET Poultry Supplies Large, With Little Change in Prices. | Following a holiday merket of uncer- tainty at times and satisfactory condi- tions at others, wholesale dealers are | well satisfied with the restoration of | normal trading conditions, and early | this morning retailers were much in! evidence getting supplies for the day | and week end trade. Wholesalers were more than able to fill all demands at | prevailing prices. “Holiday trade always is welcomed," observed a dealer,” being a time when heavy trading is anticipated. Heavy trading is not always a paying busi- ness, however, changes in prices com- ing so frequently that the situation cannot always be successfully coped with. ‘Success of the market,” he added, | “naturally depends upon the question | of supply and demand, and when an- ticipated demands fail to materialize losses sometimes follow, especially with | perishable commodities. | “There were some losses experienced | during the holiday season,” the mer- chant continued, “but they were more than offset by profits, making the past hfind-y season an advantageous one for | all.” Poultry Market. Much interest both last week and this ! week was displayed in the poultry mar- ket, especially as it related to turkeys, and heavy receipts for the Christmas and New Year, as well as for the Thanksgiving holiday season, were prices were held down below what many dealers had anticipated. Even the receipts for the New Year market were heavier than usual. The | demand was not great, but dealers were | able to clean up receipts to their entire | satisfaction. Holdover supplies were not | very heavy, according to dealers, and today some of the stock put in storage at Thanksgiving found its way to re- tailers. Few turkeys and fairly large quanti- ties of chickens and ducks reached here in time for this merning’s market, a few keats and fairly heavy receipts of rabbits also belng mentioned in re- ports of dealers. Meat packers continued to have at- tractive displays of all kinds of meats and meat products to claim attention of retailers, the demand being active. “People tire of turkeys after the Christmas holiday season.” observed a dealer, “and naturally register increased demands for meats, both fresh and smoked meats appealing to them.” A gradually increased demand for marine products, especially fish from nearby and distant waters and oysters from ‘various points on salt water, was noted. Due to continued warm weather most of the week, receipts of fish from points on the Potomac River below the Dis- | been in evidence on the creeks where Winter seines are operated. Small quantities of pike and large quantities of yellow perch and carp| were received for the Priday and week at 45 cents a pound. The perch and carp sold around 25 cents. “This is the season for oyster roasts,” suggested a dealer, “and the bivalves are in demand for ‘private roasts in homes and in the open. “Good way to entertain friends,” the dealer adde: Trading this morning proved of in- terest to both wholesalers and retailers, according to reports, prices of most commodities being substantially the same as prices quoted yesterday. Today's Wholesale Prices—Jobbers’ Prices Slightly Higher. Butter—One-pound prints, 39a40; tub, 38a39; store packed, 25a28. Eggs—Hennery, 50a51; fresh selected, Poultry, alive—Turkeys, young, 32a35; old toms, 27a28; Spring chickens, large. 28a30; medium, 28a30; broilers, 30a32; fowls, 27828; Leghorns, 20a23; roosters, 20; duck: 15a18. Dressed—Turkeys, young, 40a42; old, 35a36; Spring chick- ens, large, 34a35; medium, 34a35; broil- . 33a34; Leghorns, 26a Toosters, 23a25; ca- pons, 35240; keats, 50a60. Meats—Beef, 20a22: Jamb, 26a28: pork loins, 24a26; fresh hams, 25; fresh shoulders, 22; bacon, 25a26; smoked hams, 25; smoked shoul- ders, 20: lard, in bulk, 1213; in pack- ages, 1315, Live stock—Calves, 15; lambs, 13a14. It was said by dealers that many of the rabbits offered this morning came from Tennessee, Arkansas and Missourl. ‘The season in Virginia closed January 1, but quantities of rabbits were re- ceived yesterday in trucks bearing Vir- ginia license tags. Prices covered a wide range, selling from 15 to 30 cents. Butter and eggs were cheaper, prices having declined since January 1, the decline being just what dealers had predicted. “The egg market has been due for a drop since early in December,” com- mented a dealer, “but receipts of fresh stock did not increase to the extent of decreasing prices until the past few days.” It is expected by dealers that prices will further decrease the coming week. Florida strawberries and Canadian rhubarb, regarded by dealers as being the show fruit at this time, attracted attention of dealers this morning. The strawberries were not so plentiful as they were earlier in the week, dealers stated, but prices were about the same. ‘The rhubarb, 15-pound boxes, were quoted at $3. Moderate supplies of oranges and light recelpts of grapefruit were re- ported. Oranges, as to size and quality, were offered at prices ranging from $3.25 to 86, grapefruit selling from $3.75 to $5. Tangerines, receipts light, were not much in demand. Dealers had plentiful supplies of alligator pears, grapes, pears, apples and bananas. Vegetable Receipts. Receipts of green vegetables con- tinued fairly heavy and were in good veal, 26a28: were offered around $7 a hamper, the most expensive of anything in the vege- table line. ‘There were plentiful supplies of peas offered the retail trade this morning, 45-pound crates of the vegetable from Mexico selling at $4 and $4.50. Light receipts of beets from Texas, Western lettuce crates, bunched, found ready sale at $3 and $3.25. bunched carrots from Texas being similarly priced. Cut- off carrots from nearby sold at 75 cents for_two-peck baskets. California_pony crates of caulifiower were in moderate receipt this morning, meeting a_light demand and steady market. Prices ranged from $1.15 to $2.25. String beans were in moderate supply, Florida bushel baskets of green stringless selling mostly at $3. Wax beans, 3;-bushel hampers, sold at $2, there being very little demand for them. ‘Tomatoes und eggplant were in light recelpts, while receipts of squash were reported very light. Cabbage, onions, celery, broceoll, lettuce and both varie- Ues of potatoes were among other vege- tables offered the trade. STEEL OPERATIONS, By the Associated Press. Steel operations reached a low ebb last week, as ingot production was re- ported to the Census Bureau, and was in percentage of plant capacity under output for the same period last yea: Figures for the percentage of steel ingof capacity utilized during the week and comparable periods follo JANUARY 4, 1930. STOCK AND BOND MARKET From Yesterday By the Assoc! STOCKS. Today Previous day. Week a Year ago Two years ago Three years ag High (1929) [ Industrials, . 24 - 9l Today .. Previous d: Week ago. Year ago Two years ago Three years ago, weekly High (1929) Low (1929) : t Total sales (par value). $7,300,0 (Copyright, ave DISCOUNTS SHAR BY FEDERAL RESERVE BANKS Special Dispatch to The Star. NEW YORK, January 4.—An item in this week's Federal Rererve statement ! which did not attract so much atten- | tion as the $96.000.000 increase in | brokers' loans, but to which greater | banking significance is attached, was | that of a decrease In the rediscounts of | the member institutions of more than $130,000.000. ‘The high rediscount policy of the | Federal Reserve Board was based primarily on the expansion in the bor- | rowings of the banks. This concerned the board while it was in progress | more than the - steady increase in brokers' loans. From the end of January, | 1928, until the early part of July of | that year rediscounts rose from ap- proximately $385.000,000 to $1,191,000.- | 000. A year later, or within a mon(hi of the time when the New York Federal Reserve Bank advanced its rediscount | rate to 6 per cent, they were still close | to the peak of the high money period, | or_actually $1,153,000,000. Today they are down to $632,000.000, representing a contraction in a little | over six months of 45 per cent. This compares with a shrinkage of more | than 50 per cent in brokers' loans be- | tween October and December 24, whh; loans of “others off about 55 per cent | meanwhile. Half Billion Estimate. It has been an accepted theory in banking circles that there could be no period of comparatively easy money until the borrowings of the member | banks at the Federal Reserve were in | the neighborhood of $500,000,000. It | was predicted today that at the rate these borrowings were being contracted, and especially with the normal changes | at this time of the year, the $500,000.000 mark in rediscounts would probably be reached this month. This would be eminently satisfactory to the Federal Reserve Board and would influence its members a great deal in responding to the Prenent pressure for a further re- duction in the rediscount rate at the important lending centers from 4'; per cent to 4 per cent. The $500,000,000 amount of redis- counts, however, would not necessarily 1930, Standard Statistics Co.) FINANCTI AVERAGES s 5:30 Edition. in 20 9 Utilities. Total Com. Utilities, 98.3 98. 98.5 98.3 99.6 102.3 99.4 99.9 96.3 00. PLY REDUCED suggest extreme ease in money rates. It would still be about 45 per cent above the low average of the three years prior to 1929 and two and a half times greater than at this time in 1925. It would ap- | proximate the low figure of January, 1923, During severel of these years of small rediscount volumes interest rates were extremely low, chiefly due to slow business and liquidated markets for se- curities, High as the rediscounts were in 1928 and 1929, they were only about 50 per cent as great as the “peak” figures of AL. AVIATION INDUSTRY T0 GET ASSISTANCE Method and s;)urces of Aid Are Problems to Be Solved. BY J. C. ROYL ‘The aviation industry wants and will receive assistance. That much was | made evident today by Government offi- | clals specializing in aeronautics. The | question pressing, however, is: Who is going to give the assistance? Government officials feel that no small amount of the aid should come from other transportation industrics, Aviation company officials feel that the Government_should take the lead in of- fering aid. It seems evident that efforis will be made by each to attain the de- sired end. Helping Hand. ‘The transportation division of the Department of Commerce holds that the bright outlook for the baby industry 1 is due in large measure to the fact that the railroad and steamship lines and the various types of motor transport have extended a helping hand rather than the clenched fist of opposition. When the motor bus first made its ap- | pearance in the transportation field, it | was opposed vigorously in many cases | by the street railways and the steam | roads. ‘This opposition proved inef- fective in checking progress of the new the inflation and deflation years of 1919, 1920 and 1921. In that period com- modity prices were much higher than at present or in the last two years, and there was not then the strong gold base | for the credit structure to rest on. Sub- sequent imports of gold in large amount helped to liquidate the borrowings in contrast to what Is now taking place in the form of a reverse movement of the yellow metal. Borrowings Reduced Sharply. This week's decrease in rediscounts represented reduced borrowings on a large scale in many of the important Federal Reserve centers. It was smaller relatively in New York than in Chicago, Cleveland, Boston or St. Louis. The New York borrowings, however, at pres- ent approximate $172,000,000 of the total in the country of $632,000,000. They are about 65 per cent lower than at this time a year ago. Another indication of approaching ease in money rates is to be found in the year-end statements of the large banks and trust companies. In nearly every case they show a substantial in- crease in deposits compared with their last financial exhibit. It is no secret that the executives of these institutions are becoming anxious and perplexed concerning their ability to find a satis- factory and remunerative outlet for their expanding assets. Although call money has been firm the past week, and at 6 per cent is profitable for those who have it to lend, this is a temporary situation. A year ago call loans were at 12 per cent, and ahead of the lenders was a period of nearly nine months of the highest average monthly call rates that many of them had ever enjoyed. CHICAGO STOCK MARKET. By the Associnted Press CHICAGO, January 4.—Following is the complete official list of transactions in stocks on the Chicego Stock Ex- change today: Sales. 50 Allied Products. 100 Altofer Bros.... 50 Am Com Pow Al 50 Am Radlo 100 Am Service 1100 At Metal. . 150 Assoc Tel Ui 100 Associstes Tnv Go. 150 Auburn Auto. . 200 Balaban ‘& Katz 50 Baxter Laundries 2550 Bendix Aviation 1950 Borg-Warner . 150 Borg-Warner _ pi 100 Brach & Sons. .. 50 Bright Star Elec A... 250 Addressograph Inier 50 Ainsworth Mfg. .. 100 Banco = Kentucky 300 Cent 11l Sec. . 200 Brown Fence & W A. 800 Butler Bros 4 50 Ceco_Mfg £ 50 Cent Pub Serv A 2500 Chicago Corp. 700 Chicato Corp' B~ 30 Chicago Flex Shatt 700 Chicago Invessors.. . 300 Cnicago Investors pi. 180 Chicago_Yellow Cab. 1200 Cities . Service 1250 Club Aluminum 4 150 Commonwith_Edison. 240 30 Community Wat Serv 13 200 Consumers War. . 2 1000 Continental Chi ctis. 150 Continental Steel, 4500 Cord Corp. . 200 Decker & Cohin..". 50 Gerlach Barklow b | 100 Ground Gripper Shoe o | 30 Harnischieger ....... ; 50 Lincoln Ptg.. | 2| 930 Electric Househiold | 50 Emp Gas & Fu 15 b | 430 Foote Gear & Mach 30 Gardner-Denver 100 Gleaner .. 100 Goldblaty 3110100 150 Great Lakes Alrcrati 2100 Grigsby-Grunow ... 200 Hart-Carter « 250 Houdaiile-Hers 1050 Houdaille-Hershey 750 Inland Utilities © 17500 Insull Uil Tnvesi ! 50 Insull Uil oy pf .0 1350 Insu ULl Tn bt 2d Sé 30 Iron Fireman . 50 Kellogs Switch 100 Keysione Steel 100 Lane Drug vic 300 Libby MeNeill . 51 50 Lincoin Bte prd 150 Lindsay Nunn Pub .- 800 Manhattan . Dearborn 1380 Mendows Rare ! iddie Western” Tel 50 Midland United . 00 Mo_Kans Pipe Line 30 MeGraw: Elec. . 4000 Mid' Weat Util” i 30 Miss ‘Valley ned 100 Modine 1 ol 100 National *Repih’ Tnv. 400 Nav Secur Tnvest 100 Nat Standard. .. .. 30 National Terminals 300 National Union Radio 800 North Am Car. .. ... 150 North Am Gas & Elec 20 100 Nor Amer N W & E 400 No & 8 Amer C 1400 Ontario Mls 100 Barker. Pen 200 Beabody Conl 8 30 Penn Gas & Flee. . 2300 Pines ‘Winierfront. 350 Process Corp 730 Railrond ~ Sh 200Q R S Music C 2250 Rath Packink. 3% Raytheon .. ... 100 Rverson & Son 50 Sally Frocks s st s, RO et 900 Stone (H_O) 200 Swift & Co.... . ... 250 Thompson (3 Ri. . 50 Time-O-Stat~ Controls 200 United Gas. ... ... :00 8td Dredging 'Co pfd 480 Wis Bank Shrs, 200U 8 Gypsum 200 U § Radio & Tel . 250 Ttan Radio. . 730 Utility & Ind . 400 Utility & Ind i 30 Vorclone ... 250 Vortex Mfa Co 100 Vortex Mfg “'A 100 Ward Montsom 50 Western Grocer £00 Vates Machine. . 300 Zenith Radio 10000 Chi Ry B 5s 27 1000 Chi City Ry ct e Stock sales today, 101000 s Bond sules Loduy’ $13,000. CHICAGO DAIRY MARKET. CHICAGO, January 4 (#)—Butter— Easy; receipts, 7,004 tubs; prices un- changed. Eggs—Firm; receipts, 4,357 cases; extra firsts, 44; graded firsts, 43; ordinary firsts, 38 to 41; refrigerator extras, 3015; refrigerator firsts, 3815, Poultry, alive—Fowls easier, balance steady; receipts, 1 car; heavy fowls, BRITISH BANK RATE - REDUCTION IS SEEN BY LEONARD J. REID. Special Cable Dispatch to The Star. LONDON, January 4.—Despite the fact that there was no change in the New York reserve rate, the Bank of England cannot long delay a further step in the world's progress toward cheap money, though it is doubtful whether Gov. Norman will move from conviction or because he is prematurely pushed from behind by circumstances which do not welcome a cautious esti- mate on the immediate position. The predominant feature today was the extreme weakness of discounts. ‘Treasury bills were allotted around 4 5-16 per cent. Most London tenderers had expected a rate of about 4%, as com- pared with the average of 4 per cent last month. Ninet: drafts are barely obtainable at 41 per cent, holdings being reluctant to sell on a falling market with money etill plentiful, and continental banks, de- sirous of a New Year replenishment of their portfolios, are even bidding 4 3-16 per cent. Thus the bank rate is completely in- effective and since the irregular tone of sterling against the dollar here is ascribed to a temporary technigal posi- tion of exchange dealers’ books in cer- tain continental centers, while the franc now looks safe above the gold point, it is argued that a 4!, per cent bank rate could be risked without deldy. NEW YORK COTTON. NEW YORK, January 4 (Special).— Selling pressure increased on the Cot- ton Exchange today and prices lost 10 to 15 points, ending at the bottom with March only 7 points from low levels of the season. January broke below 17 cents and closed at 16.95, which is virtually the Farm Board loaning figure in New Orleans, allowing the 35-point penalty for Southern delivery on New York contracts. Spots were reduced 15 points to 17.15. A break of 2 cents a bushel in wheat and only a limited degree of activity in dry goods quarters reported during opening days of the new year operated against the market. According to the Textile World, the market for raw material, though not likely to make any sustained advance, shows signs of stabilization on a basis of 17 cents. Several factors are operat- ing against advancing levels for raw material. The general trend of busi- ness continues downward, while the domestic dry goods trade is not good. The large holdings of co-operative as- soclations, much of which is probably of low grade, may readily prove a factor later on. Cotton range: Open. High. 17.07 1721 1743 1760 1785 178 January ow. Close. March . att December Business Notes By the Associat~d Press. NEW YORK, January 4.—Total ex- Tts of crude rubber from Malaya dur- ng December amounted to 48,513 tons, compared with 46279 tons in November and 66,763 tons exported in December, 1028, according to advices received by the Rubber Exchange of New York, L. B. Davis of Hagerstown, Ind., has been elected secretary of the Perfect Circle Co., succeeding L. S. Bowman, resigned. More than & billlon dollars of new life insurance was written on & paid basis by the Travelers Insurance Co., last year, it is stated in the company's preliminary annual statement. This ex- ceeded the new business of the previous year by $45,000,000. § December sales of the Edison Brothers Stores amounted to $413,776, compared Wwith $324,726 in December, 1928. Sales for the year a gated $3,751,628, as against $2,986,001 in the previous year, an increase of 25.6 per cent, 25'%; B , 3112 ters, 17; - keys, :opgnr. e b e s 19; geese, 13, No. 2, 15; heavy ducks, Ll England's largest freight car, havin capacity of 150 tons and with 56 wheels, has just bnn“ healf. methods of freight and passenger traf- fic, and the tractions and steam roads finally adopted the bus and took it into their own schemes of service instead of fighting it. | Airplanes, dirigibles, gliders and other forms of air travel have not been op- ! posed by the older forms of transporta- | tlon. Aeronautics has been taken right |into the transportation family. This itrend is clearly shown in the interests |allied with the new Pacific Zeppelin Transport Co. This line is designed to carry passengers, mail, express and freight between the Pacific Coast and the Orient. The first leg of the journey is from the Pacific Coast to Hawail. The co-operation which the venture will have from other lines of transport is shown in its list of directors. These include executives of all the great American steamship lines from Pacific ports to the Orient, among them J. Stanley Dollar of the Dollar Steam- ship Co.: Harry Chandler, head of the Los Angeles Steamship Co.; P. W. Roth, president of the Matson Navigation Co., and Edward P. Farley of the American- Hawallan Steamship Co. and the for- mer head of the United States Shipping Board. The airplane ‘industry is repre- sented by F. B. Rentschler, president of the United Aircraft & Transport Co.; G. B. Grosvenor, president of the Avi tion Corporation, and Col. E. A. Deeds. The list also includes men interested in motor fuels, such as K. R. Kings- bury, president of the Standard Oil Co. of California. Opening New Business. ‘The men interested in airplanes, rail- roads, busses and ships have been far- sighted enough to see that instead of taking business from them the air- ships, through faster transport of pas- sengers and mails, are opening new business with the Orient and that they in turn will secure additional freight and passenger traffic a result. Mr. Rentschler takes the position that it is essential that the Government be the one to extend the strongest hand to the infant industry. The Govern- ment still is the largest customer of the airplane and dirigible companies, and the development of the air mail lines nas been of tremendous assistance to the industry. Mr. Rentschler holds that the Government, through its programs for Army and Navy equipment and by its airmail contracts, is in the best position to offer assistance. (Copyright, 1930.) | | NEW YORK CURB MARKET TO HAVE NEW BUILDING By the Associated Press. NEW_YORK, January 4.—The New York Curb Exchange, which several years ago moved from the street to its present building on Trinity place, is to have a new and larger home. Plans for a l4-story building, to be erected around the present structure, were an- nounced today. Twenty-four trading posts will be provided, eight more than in the present exchange. The Curb is the country’s second largest securities market, ranking next to the New York Stock Exchange. DUN'S REVIEW. NEW YORK, January 4 ().—Dun's Review says: Revival of business from the setback of recent months has been more in prospect than in actual achievement, yet this was to be expected. Time will be required for recovery from the reces- sion, and the first few days of a year seldom bring any change of deep | nificance. It is evident, however, t| there is a more confident feeling in most quarters, and sentiment regarding the more distant future is plainly marked by opitmism. What has lately happened is of less importance now than what is likely to occur, and 1930 begins with most of the fundamentals favorable to ultimate renewed expane sion. The specific developments this week, if lacking particular feature, were not without encouragement in some in- stances, and among the hopeful signs was the steadier price undertone in various leading commodities. Weekly bank clearings, $10,669.681,- 000, a decrease of 22.9 per cent from last year. NEW YORK BANK STOCKS. NEW YORK, January 4 (Special).— U e 100 120 L ] 210 America ... Amer Union ..’ Bank of U S units Bank of Yorktown Broadwa Bryant : Central Nation Chase_. Chat Phenix . Chelsen Ex ex'ris. City ., Columb; Commerct Continen| Fifth Avenue'! First National Qarace ..., Harbor ‘Stat, Harriman Industrial Lefcourt Nor 'n Liberty . Penn Exchange . Port Morris .. Prisco State | Publie .. Seward Sixth Av Sterling National Straus National Textile ... Trade Bank . Union (Rr'x) World Exch Yorkville Bane Bankers . Bankers ne Bank Europe T Bank N'Y & Tr Brony. ... Cent Union Cent Union County ex rts. nterstate Int Ger Jnt Germanic Lid Irving Law ‘Tit Municipal units New York ... N ¥ Title & Mige Pla i Times Square Title " Guaranty Teuse SE of Noi . rth