Evening Star Newspaper, January 7, 1930, Page 14

A—14 ¥¥® MERCHANTS' BANK - ELECTS DIRECTORS Same Board Officiating This Year Is Retained at Annual Meeting. BY EDWARD C. STONE. The Merchants' Bank & Trust Co. today headed the long list of Washing- ton banks which hold their annual stockholders' meetings in January, the majority of which are scheduled to’take place a week from today. The shareholders of the Merchants' Bank & Trust Co. met at noon. Peter a Drury, chairman of the board, an- nounced after the meeting that the same board of directors had been re- elected. The directors are: Harry E. Allen, Noble P. Barnes, Rolfe E. Bolling, Harry R. Carroll, Peter M. Dorsch, J. J. Drury, Peter A. Drury, Mark F. Finley, Ernest Gersten- berg, Frank E. Ghiselli, Frank P. Har- man, jr.. C. Prancis Jenkins, William E. Leahy, J. Ernest Michell, Alvin L. Newmyer, Dantel J. O'Bri Frank O'Hara, Joseph A. Raflerty, L. E. Schreinier, J. L. Sherwood, Lewis M. ‘Thayer and John Zanier. The Merchants' board will meet in a short time for organization for the coming year, when the present official family will no doubt be retained. There are several vacancies among the directors in other banks on account of deaths during 1929, and it is antici- pated that most of these will be filled at the stockholders' meetings. Krafft Sees Insurance Gains, Harold D. Krafft, president of the District of Columbia Life Underwriters’ Association said today that the wide- spread appeals which have been made recently for a return to normalcy in investments will assist in furthering the efforts of National Thrift Week to take . the “If Out of Thrift.” Thrift week 1his year takes place from January 19 to January 25. Mr. Krafit was speak- ing of Life Insurance day, the observ- ance of which on January 22, is a part of the Thrift week program. Mr. Krafft believes Insurance day will mean more this year than usual. He asserts that many people, who lost money in the stock market will natur- ally turn to insurance this year, because of its safety. He and the other man- agers and agents in this city are h'ghly optimistic over the outlook for new ~Prev. 1920— High. Low. 57% 42 85% 54 963 87 81%, 1047 8674 business this year. The Thrift’ week program will in- clude the other special days as usual, such as Savings Bank Account day, Own ‘Your Own Home day etc. ‘Why Goods Are Returned. Until very recently it has been as- sumed by many department store man- agers that returning goods was a whim —the woman's prerogative to change her mind. 'The privilege of returning goods was considered a service, like delivering goods, which the department store offered to its customers because they seemed to want it. Recent studies have come as a ahockl: goods are returned because they don't fit—they are not the quality which the purchaser thought they were—they Jook differently in daylight than they did in the store—they are damaged in delivery or don’t arrive in time. More returns are caused by some negligence of the store than by customers vagaries. Edwin L. Stoiber, director of the Store Managers Division of the National Re- tail Dry Goods Association, urges fur- ther study of returns by adjustors, says, “Over and above the routine of adjustment handling, the educational opportunity is constantly present and should be utilized not only to set the customer right but to set the store em- ploye right. Details on Local Trade. Latest reports from the Federal Re- aervemnuuwo( Ri&hl;mnd state bthl: vashington retail trade was up .6 pe: cent, innlgovember compared with No- vember, 1928. eThe increase in local trade for the first 11 months of 1929 compared, with the same period in 1928, was 3.7 per | cent. The percentage of November sales compared with the average November sales during the three years 1923-24-25 ‘was 174. Percentage increase in stock on hand bver November 30, 1928, was 2.5. Percentage of sales to stock carried curing the month was up 30.8. Percentage of total sales since Jan- wary 1 to average stock carried during each of the 11 months was 315.1. Percentage of collections in Novem- ber to total accounts receivable on No- vember 1 was 31.6. Commodity Prices Decline. Commodity prices declined four-tenths of 1 per cent for the week ended Jan- uary 4, according to the wholesale price index of the National Fertilizer Asso- | ciation. The index now stands at the | lowest point of record for this index, | which has been compiled since July 9, | 1927. The groups that showed the largest declines were fats (largely butter), grains, feeds and live stock, fuel and certain foods. Of the total list 27 items declined and 19 advanced. Six groups declined and only one advanced. An advance of 0.5 per cent occurred in the group of fertilizer materials, due to a slight advance in cotton seed meal and to schedule advances in sodium ni- trate and ammonium-sulphate-nitrate. Capital Traction Market Leader. Capital Traction stock led trading on the Washington Stock Exchange today. There were 12 consecutive sales, the first nine being 10-share lots, all at %7, a gain of 2 points. Then followed a five-share and a one-share {ransfer and the market closed with a 45-share block selling at the same price. American_ Security & Trust sold at 427 and 426, Continental Trust moved at 133'; and 133. Mergenthaler Linotype sold at 106 and 290 shares of National Mortgage & In- vestment preferred came out at 413, Becurity Storage changed hands at 116. Washington Gas and Capital Traction bonds were in quiet demand at recent slevels, B Heard in Financial District. . Washington bankers resume their “weekly luncheons tomorrow noon at the Willard, President W. J. Waller pre- siding. Boston bankers are anxious to adopt the credit bureau plan which the Dis- trict Bankers' Association worked out under the administration of iobcrt V. Fleming and now has in such success- 1ul operation. The United Railways & Electric Co. “of Baltimore won its suit in the Su- 2 preme Court for a straight 10-cent fare. 3 The road's plea was to obtain sn 8 per i cent return. The directors of the Capi- Stal Traction Co. read the ruling with %deep interest. Woolworth’s gain of oniy 2.83 per cent in December sales over ‘he same month :last year caused a good deal of sur- : prise. Officials explain that bad weather £ conditions with heavy snowfalls over a I number of districts " affected business. % There were also five Saturdays in De- £ cember, 1928, and only four in Decem- < ber, 1929. Oliver Thurman, vice president and . superintendent of agencies of the § Mutual Benefit Life Insurance Co. of £ Newark, N. J., spent today in Wash- # ington visitin« "the local general agency. % He was guest of honor this noon at a luncheon given by Washington insur- ance men at the Hotel Hamilton. Abuot § 20 from Baltimore were in attendance. CHICAGO DAIRY MARKET. CHICAGO, January 7 (#).—Butter 4 steady; receipts, 14,989 tubs; prices un- 62% TT% 514 11% 35% 50 20 81 90% 491 327% 131 101 84% 104% 140% 128 617 136% 1003 867% 634 8% 81% 9235 2481 55% 42% 50 22% 12% 54% 34 127 96% 89% 9% 12% 41 192% 64% 4 61% 49% 98% 48% 467 61 42% 9% 48% 59% 120 32 92 43 44% 108% 108% 109 50 135 62% 21 T2% 2% 88 140 109 883 344 62% 51% 28 79 63 116% 5% 1% 226 7% 385 64% 11% 54% 126% 92 28% 231 39% 264% T6% 39% 112% 174 18% 86% 109% 104% T9% 42 93% " changed. Eggs firm; receipts, 8,442 cases; prices unchanged. Poultry, allve—Hens steady, Springs, easier; Teceipts, 5 cars; fowls, 24827 Springs, 211,a22: roosters, 17; turkeys, ducks, 18; geese, 1 63% 54 3% 13% - FINANCIAL. THE EVENING STAR, WASHINGTON \ D. C, TUESDAY, JANUARY 1%, 1930., FINANCIAY, TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE Sales of Each Stock Compiled to 12:30 P.M. 34% Abitibl Power & Pap. 69 Abitibi P& P pt (6). 20 7 15 1 1 4% Alaska Juneau 17 90 197 118 35 20 17 65 27 4 86 75 70% Am Chain pf (7).... 1 27 20 23 50 5 29'%% Am Internat ($2). Stock and Dividend Rate. Sales— Add 00. High. 73% 26 11% 23 3 % 52 126% 13 2% L1919 36 23% 24 97 1 261 1121 16 501 Adams Expr (160). Advance Rumley. Advance Rumley pf. % Ahumada Lead..... Alfr Reductn (143%). Ajax Rubber. Alleghany Corp. .... Alleg Corp pf (5%). . Allied Ch & Dye (c6) % Allied C& D pf (7). . % Allis-Chalmers (3).. Amal Leather pf. 1 20 s Amerada Corp (2) 12 21% Am Bank Note (t4).. 1 78 Am Bosch Magneto.. 6 4 ' Am Brown BovElec. 1 8 AmCan (4)......... 100 120, Am Car & Fdy (6) 5 82 81 40 31 Am Chicle (t2%). Am Com Alco(c1.60) Am European Sec. .. Am & For Power. . 1 14 3 312 103 86% AM&FOR Po 2d pf(7: 1 17% Am Hawaijan 8 8 (2) 5 2 n 2 Am Home Prod (4.20) Am Ice Co (14).. 2 AmLaF & Foamite. 1 641 Am Pow & Lt (f1). 924 Am Pow & Lt pf (6). 70 279% 142 Am Mach & Fdy (7) 31% Am Metal (3) . 4 4% 2o . 11 82y 1 101% 1 7% Am Piano AmP&LpfA (3).. 72% Am P&L pf A st (5). 28 Am Ra&Std San 13, 12% Am Republics. 60 17 62 Am Roll Mill (e: Am Seating (2) Am Sm & Ref (4). 123% Am Sm & Ref pf (7). 38 35% Am Steel Fdy (3). 56 18 1931 160 114 499, 671 25 18! 30 5% Armour I11 (A) 2% Armour 111 (B) 57 6% Arnold Constable 298% 195' Atch T & S Fe (10) 99 32% Atl1G & W Indies..., 1 45% At1G & W L pf (4) 30 120 3% Austin Nichol; 4 34 4% Aviation Corp Del. 2 66% 15 Baldwin,Loco (1.75). 141 145% 105 Baltimore & Ohio (7) % 55 20 1214 Beacon Oil. . 69 45 75 25 78% Bethlehem Steel (6). 116% Bethlehem St pf (7). 23 17 53 26 8'% Briggs Mfg. “ou 14 Brockway M T (3)... 40 76% Bklyn-Man Tr pf (6) 99 Bklyn Union Gas (5) 16% Bruns-Balk-Col (3).. 14 26'% Bucyruscv pf (23;). 8% Budd (EG) Mfg (1 7% Budd Wheel (1). 25 21% Bulova Watch (3). 88 29 Am Snuff Co (1334). . 481 13 63% 6 201 25 220% Am Sugar Rfg (5). Am Sumatra (3). 4 Am Tel & Tel (9) 2 Am Tobacco (B) (8). 202 % Am Tobaccopf (6).. 1 120% Am Water Wks (c1). 242 91y Am Woolen. . S 25 10y : Am Woolen pf. ... 15 27 Am Zinc Ld & Sm 55 11 % Am Zine pf (6).. 18 65 4 Anaconda Copr (7).. 482 79 Anchor Cap (2.40)... 5 37 4 Archer-Dan-M (2). 6 26% Andes Copper (3). 4 36% 5 6 21 3% 1 62 6 6% 4 220% 2 1031 T4% 1 59 21 38% 6 195% 4 6% 38 6 34 9 116% 2 80% 1 641 11 23% 1 15 s 2 63 2 81 27 36% 31 947 8 123 Armour I pf (7) Atch T&SF pf (5). Atl Refining (12) Auburn Auto (§4). Autosales. ... Auto-Strap Raz (3) Balto & Ohio pf (4).. Bang & Aroos (33%). Barnsdall, A (2).... Beatrice Crea . Beech-Nut Pkg (3) Belg N Ry pt pf 5.49. Bendix Aviation (2). Bloomingdale Bros. . Bohn Al & Brass (3). Borden Co (k3).. Borg Warner (4). 32 161 13 141 2 661, 1 8 1 134% 6 197, 34 23y 3 34y i 2 95 181 2 27% 1 100 16 46% Bklyn-Manhat (4). .. Bucyrus Erle (1) Bullard Co (12) Burns Bros A (8) Burr Add Mch (80c). 31% Bush Term (g2)..... 2 4% Butte & Superior (2) 17% Butterick Co. 50 63% Calit Packing (4) 1 25 29 45 265% 185 27 130 50% Ci 6% Cavanagh-Dobb: 31 21 27% Cent Alloy Steel (2). 524 Cerro de Pasco (6). 10% Certain-teed Prod. 70% 18 Checker Cab (4.20) 4214 Chesapeake Corp (3). 15 66% 36% Chi& East Il pf. 63% 17% ChiGreat Westn pf. . 16 68% 28% Chi Mill St P&Pac pf 5 14312 101 947 100 25 75% 44% Childs Co (2.40)..... 26 % City Ice & F' (k3.60). 7% City Stores (1)...... 34% Cluett Peabody (4).. 154% 101 50% 44% Coca-Cola A (3)..... 10 27, 52 99 105 13 28 25 281 201, 105 10 11 43 40 10 80% Consol GasN Y (4).. 92% Consol Gas NY pf(5) 45 Butte Cop & Z (50c) . 13 2 19% 5 1% 1 67 Callahan Zinc & L. g f Calumet & Hec (4%) 176 33 Campbell Wyant (2). 2 19% CanadaDry GA (5). 7 65% Canadian Pac (10)... 2 190%, Cannon Mills (2.80).. 6 271 Case (JI) (6)....... 6 1921 rpillar Trac (3). 1 64% 2 10% 73 46% 6 26% 5 328 18 65% 3 135 2 38Y 2 64 3 18 5 39% 5 37% 7 24% 14 43y 2 8 1 114% 3 101 1107 2 26% 2 59 390 37 31 42 29 10 1 37 1134 2 48% 12 16% 5 40% 81 76 1 106% Byers (A M). Celotex (3)... Cent Aguirre As 1. Chi & East I11. . . Chi Mill St P&Pac. .. Chicago & N W (5).. Chi R1& Pac (7).... % Chi RI& Pacpf (6). Chi R [ & Pac pf (7). Chickasha C Oil (3). Chrysler Corp (3). Coca-Cola (4). . Collins & Atkman. % Colo Fuel & Iron ColGas&El (2)..... 4 Col Gas & El pt A(6) 16% Columb Graph (87c). 112 30% 29% 297 Columbian Carb (15) Com Credit (2)...... Comm Credit A (3).. Com Credit pf B (2) . 4 Coml Inv Tr (1.60). » Comm Solvents (1).. 41 30 Comwlth Power((4). 24 123 Comm & So (b5%stk 138 14% Congoleum-Nairn... 17 14 Congress Clgr(15%) 1 481 Consol Cigar (7).... 7 48 Consol Film (2)..... 1 16% 60 100% 6 100% 3 51 18 176% 3 25 27 33y 200 24% 4 40 Consol RR Cub pt£(6) % Consol Textil 1 12 5% Contl Baking A. .. 4% Contl Baking B. 79% Contl Baking pf (8. 5% Continental Motors. 18 28% Contl Shares (1) 70 20% Coty Inc (82).... 24 15 108 % ' Cuba-Cane Sug ctfs. 36 6% Curtiss Wright Corp. 118 37% 13% Curt Wright Corp A. 141% Delaware & Hud (9). 169% 120% Del Lack & W (17).. 49 151 24 6 12 69 25 10 80 119% 107% Dupontd 100% 96% Duquesne 1st pf (5). 19 150 18 4 39 50 3 29% El Pwr & Lt (1) 98 El Pwr & Ltpf (7). 55 124% 108% Endicott-John pf (7) 31 31% Equitable Bldg (2%) 41 52 Brie RR 2d pf (4) 361 Eureka Cac Cl (4). 15 3% FairbanksCo..... 4% Falchsnks Marae (3, Container Co: 13% 45 64 8913 6 23 32 90 28Y Contl Oil of Del. Corn Prod (13%). Cream of Wht(12%). Crosley Radio (1)... 2 1 Crucible Steel pf (7). 2 1103 “uba Cane Sugar. ... a_ uba Cane S pf ctfs.. e uba Co. .. 3 1005 % Cuban-Amer Sugar. . 5 Cudahy Packing (4). 1 461 B 6 15% 1161% 2 140 1 60% 1 200 32 7 21% 8 35 15 13 118 1117 2 100 4 23y 2 1763 9 203 1 8% 1 41 8 B4y 1% 28 51% 6 107 4 1107% 6 40% 39% 57 571 364 21% 97 @ Denv&RG W pt. Detroit Edison (8). . Devoe & R, A (2.40). Dome Mines (1)..... Dominion Strs (1.20) Drug Corpn (4).... Dunhill Inter ($4). Duplan Stk (1)..... Dupond de Nem (4). ¥ deb (6).. 3 2 1 2 3 1 Estn Roll Mill(ht2). Eastman Kodak (18) Eaton Axle & S (3). Eitingon-Sch (2%) Eitingon pf (6%)... Elec Auto Lite (6)... % Electrie Boat. Elec Storage Bat (5). Eng Pub Serv (31). . 1% Erfe RR.. Evans Auto L(32%). g 3 1 2 1 6 é 30% 122% 123 Prev. Low. Close. Closs 297 8% 25 11% 23 23 N 1231 125% 128 TSR 8%, 8% 234 23% 97 97 261 261 121 121 49% 50% 20 20 3l “31 78 78 4200 43 42% 8% 81 8% 118 119% 1191 80 Rl RI% 81 el T35% 25% 1% 4 97 257 121 50% 20 21% 80 212% 212% 215 47 4T 47w % 79% 80 81 1014 101 101 % 5% Tok 801 8012 80 30% 31% 314 238 28 24 815 83% 83 201 21 4% 5% 136 136 136 425 42% 42% 481 481 48y 623, 628 631 19% 19% 19% 2181 2181 2207 199 199 201 120 1201 120% 88% RO 9214 10% 8 25% 224 9% 101 11 61% 65 631 % TR 8% 37 37w 37 26 26 26% 3 36 36 6 6 3y 3% 62 6% 6% 219% 2193, 222 102% 102% 102% 4% 4% 75 59 59 60 381 381 38y 190 190 195% 4 4 4 6 6 7 38 38 atn 5% 5% 5% 3280 33% 34w 115% 115% 1163 80 80% &0 —Prev. 1929~ High 56 33 74 403 631 1% 81% 112 891 913 126% 98 126" 4 106% 135 66% 16 58% 17% 6415 6415 63 2315 231, 231 15 15 15% 74 T4 3% 62% 63 61 80% 801 80 3415 35 36 984 94% 937 123 231 53% 531 63 65% 34 34% 34 15% 16 16% 14% 141 144 644 641 6 8 85 134% 134% 19 19 22% 22% 225 334 334 344 11 1 10% 9% 9% 10 3l 31 31% 278 273 281 100 100 100% 43% 45 d6% 36 36 36 3% 3 3u 4% 4w 5 17 19% 17 881 90 91% 67 67 66% 1 1 1 321 32% 19 191 19y 641 641 6374 189 1891 189 27 2T% 27y 192 19216 195 54 54 5au 9% 10% 10% 42 45 44% 26% 26% 26 31% 323 64% 645 13 18y 38 38 64 64 14% 18 36% 391 36% 37 241 24% 425 427, 84% 85 114% 1143 100% 100 107 107 25 25% 59 59 36% 36% 41 41 9% 9% 37 37 134 134 48% 484 16% 16% 40 40 73% T4% 106% 1061 24 53 63 24 324 100% 107 25 60 38 173 175% 241 25 33% 331 24% 243 16% 98%, 99% 9% 99% 51 51 1 1 13% 13% 4% 44y 6 6 8915 89 6 6 22% 22% 30% 30% 90 90 26% 27 26 26 16% 16% 110% 110% [ % % 10 T 46% ™ 8 4% 14% 161% 161% 139% 140 60% 60% 200 200 31% 32 6% 6% 21% 21% 8 18 35 35 15 15 116 118 7 n 100 100 22% 284 176 176% 2 29 8% 8% 41 41 81 82 4% 4 50% 51% 106% 107 7T 107% 107% 40% 39% 567 5% 36 10% T 46% 102% 10316 121 142 145 5914 102% 394, 72% 941 44% 25 102% 43 106 1061 5734 113% 8414 110% 1% 88% 31% 18 72% 154% 108% 45 5914 96 114% 225% 82% 266% 192% 109% 132% 32 9%, 48% 186% 54% 103% 118% 114% 64% 69% 9915 450 55 891 98% 146% 3214 21% 9% 3. 69 69Y% . 16% » Stock and Low. Dividend Rate. 28 Fed Water Ser A 2.40 25' Federated Dept Strs. 47% Fid Pho Fire 1(2.60). 24% Firestone T&R(1.60) §3% Firestone T&R pf(6) 44'; First Nat Strs (2%). 1w Fisk Rubber-. ... 321, Follansbee Bros (3). 33 Foster Wheeler (2).. 12% Foundation Co.... 19% Fox Film A (4) 233 Freeport, Tex: 5 Gabriel Snub A 6514 Gamewell Co (5) 3 Gardner Motor...... Gen Am Tnk Car($4) Gen Asphalt (4). 2: Gen Bronze (2). 23 Gen Cable 631x Gen Cable A (4), n Cable pf (7).... 42 GenCigar (4).. 1684 Gen 55% Gen 5 11 Gen Elec spec (60c). 35 Gen'l Food Corpn (3) 59% Gen Gas&EI A (te2). 50 General Mills (3) 3313 Gen Motors (13.30) 112 Gen Motors pf (7). .. 20 Gen Public Serv (b6) 70 Gen Ry Signal (5). 50 Gen Refactories (4). 80 Gillette Saf Raz (c5) 10% Gimbel Brothers. 26 Glidden Co (h2) 914 Gobel (Adolf) 311 Gold Dust (213) . 95 Gold Dust pf (6). 38% Goodrich BF (4). 951 Goodrich pf (7). .. 60 Goodyear Tire (5)... 87 Goodyear 1st pf (7). 7% Graham-Paige. 46'% Granby Copper (8).. 9% Grand Union,,. . 30 Grand Union bf (3) 321, Grant (W T) (1). 85% Grt North pf (5). 19 GUNctfsOP (a3%). 28 Grt West Sug (2.80). 14% Grigsby Grunow (2) 18 Gulf Mo & North. . 12 Hahn Dept Stores 71% Hahn Dept S pf(6%4) 13 Hartman Corp B 1.20 615 Havana Elec Ry. 5% Hayes Body........ 80 Hercules Powder (3) 45 Hershey Chocolate. . 60% Hershey Choe pf (4). 104 Hershey Ch pr pf (6) 13 Houdaille Her B (2). 40 Household Prd (14). 26 HoustonOil........ £4% Howe Sound (14%%).. 3413 Hud&Man Ry (3.50). 38 Hudson Motor (5). 18 Hupp Motor (£2). 17% Independ Oil & G (2) 314 Ind Motor Cycle 134 Indian Refining. 113 Indian Refining ct 6815 Indus Ray (b5 %stk) . 22" Inspiration (4)... 12 Insurance Shars 45c. 15 Interboro Rap Tran. Interlake Iron...... 4 Intl Agricultural.. 48 Intl Cement (4) 4% Int Combustion 18t Inter Comb Eng pf.. 65 Intl Harvester (21%) 137 Intl Harv pf (7) 23 Int Hydro ELA (e2). 47 Intl Match pf (4) 18% Int Mer Marine ctfs. 25 Int Nickel of Can (1) 77 Intl Paper pf (7).... 20 IntlPap& P A(2.40). 9 IntlPap&PwrC.... 77 Intl Pap & Pwr pf(7) 40 Intl Printing Ink (3) 95 IntSilver (6)....... 53 IntTel & Teleg (2).. 1215 Investors Equity(2). 39 Tewel Tea (4).... 90 Johns-Manville (3) 1% Jordan Motor Car. 63 Kan City Sou pt (4). 17% Kaufmann)D'S (134) 30 Kayser Jullus (4)... 70 Keith-Albee-O pf (7) 3 Kelly-Spring Tire 18% Kelsey Hayes (2) 5 Kelvinator Corp 49% Kennecott (5)...... 45% Kimberly-Clark(13). 315 Kolster Radio....... 27 Kraft PhCh (13%). 8% Kresge Dept Stores 28 Kresge(SS)Co(1.60). 221 Kreuger&Toll (1.34). 38% Kroger Gr&Bak (c1) 80% Lambert Co (8) 5 Lee Rubber & Tire. . 65 Lehigh Valley (14%) 17 Libbey Owens (1)... 801 Liggett & My (15 80 Liggett& My B (t 31 Lima Locomotive. . 40 Liquid Carbonic (4). 32 Inc 3). . 80 s, Inc pt (6%) . 314 Loft, Inc... 5 39% Loose-Wiles (2.60) 14% Lorillard (P) C 7 LouisianaOfl..... 28 LouG&EIA (1%) 110 Louls & Nash (7) 22 Ludlum Steel (2) 39% McCall Corp (21)... 54 McK'port T P (1414) 21% McKesson & Rob (2) 40 McKes & Rb pf(3%). 18% McLellan Stores. ... 913% McLellan S pf A (6. 55% Mack Trucks (6).... 110 Macy(RH)&Co(ct3). 35 Magma Copper (5).. 14 Mandel Brothers. . 19% Man Elec Supply. 24 Man Elev mod (d5’ 19% Man Shirt (2)... 30 Marlin-Rockwl 143 . 19 Marmon Motor (4).. 29 Mathieson Alkill (2). 45% May Dept Stores(c2) 15% Maytag Co (12)... 28% Maytag Copf (3).... 75% Maytag Co 15t pf(6). 26% Melville Shoe (2).... 9 Mengel Company (2) 9% Mexican Seaboard. 20 Miami Copper (4). 44 Michigan Steel (2%). 2214 Mid-Continent P (2). % Middle States Ofl ct. 3% Miller Rubber. .. 10 ' Minn Moline Pwr 1% Minn & St Louis 27% Mo Kan & Texas. 93% Mo Kan & Tex pf. 46 Missouri Pacific. ... Missourl Pac pf (5).. Mohawk C Mills (3). 47 Monsanto Ch (g1%). 42% Montgomry Wrd (3) . 1% Moon Motors. . 42 Morrell J (3.60) . 1% Mother Lode (40¢) 36 Motor Products (2).. 21 Motor Wheel (3) 10 Mullins Mfg. 14% MurrayCor (b2 % stk) 30 Myer(FE)& Bro (2). 40 Nash Motors (6). 14% Nat Acme (1%).. Nat Cash Reg,A(t4). 36 Nat Dairy (12) 15 Natl Distillers. 25% Natl Enameling (2).. 23 ZNatl Pwr& Lt (1). 1% Natl Radiator 1 Natl Rys Mex 2 70% Natl Surety (5). 31% Nat Tea Co (2) 46 Nelsner Brothers. .. 23% Nevada Copper (3).. 35 Newton Steel (3).... 160 NY Central (8)..... 110 NYChi&StL(6).. 100 N Y Chi & St L pf(6) 80% NY NH & Hart (6). 8 NYOnt& West..... 1% N Y Railways pf.... 15 Norfolk Southern. 66% North Am(b10%stk) 48 North Ampf (3).... 98 North Am Ed pf (6). 75% Northern Pac (5). 75 North Pacct (5).... 8 Oliver Farm Equip. . 17 Ollvr Fr Eq cv pt(3). 64% Olivr Fr Eq pf A(6). 195 Otis Elevator (6). 2215 Otis Steel (234)..... 43 Qwens Il Bottle(c4) 42 Pacific Gas & E (2).. 58% Pacific Lighting (3). 13 Packard Motor (1).. 40% Tan-Am Petroleuni. . 40%; Pan-Am Pete B..... 35.. Paramount-F-L (3)w » o Smwmmn? nBaluwonBoonn @ P IreTS o NN AR AR BN AN OHANN M BB IR TINIG W AREARAARAN SN aA ® 'S ] @ vaunav~aBannlol adnonanelo~nrn® o o PO L T L T DTN T 341 32 69% 334 86 105 21% 535 54 47 6014 23% 2315 6% 184 16% 110 46% 86 4% 517% 1% 9% 3974 131% 34% 40% 65 33 45 20% 8315 72 140% 52% 49Y%, 104 88% 185 38 51% 47% an 3214 54 54% 76% 3315 3; 85 79 88 105% 131 334 40% 64 a3 45 20 8315 71 137% 5114 14% 26'% 3315 20% 401 24% 407 524 17% 30% 76 32 17% 17% 30 62 27 1% 4% 14% 1% 4T 103% 881 Sales— Sales. High. Low. Close 32 69% 33 86 53 3% 38 62'% 16% Prev. Close. 34% 383% 3218 48% 103% 88% 135 374 497 —Prev. 1020~ High. Low. Dividend R 3 Park Utah.. 15% Parmelce T: Pathe Exchange. . 41 Pathe Exchange A.. ' Peerless Motor Car Penick & Ford (1). Penney (] C). - 31 Penn Dixie Cement. 72); Pennsylvania RR(4) 140~ Pere Marquette (18). 92 Pere Marq pf (5). 18% Pet Milk (1'% 31 Phelps Dodge (3)... 47% Phila Co 6% pf (3).. 9% Phila & Read C&1.. ~ 5% Philip Morris (1).. 24% Phillips Pet (e2). 1 Pierce Oil. 1 Pierce Petr o) Pillsbury Flour (2). 43 Pirelli.Co A (2.88) 54 Pittsburgh Coal. . 8312 Pittsburgh Coal pf. . 8 P Rican Am To (B). 40% Prairie O%G (t215).. 45 Prairie Pipe L (15). 61 Pressed Steel Car-. .., 434 Proc & Gamble (2).. 54 Public . N J (+3.40). 92% Pub Sve NJ pf (3) 98 * Pub Sve NJ pt (6) 139% Pub Sve NJ pf (8) 73 Pullman Corp (4). .. 6 Tunta Alegre Sugar. 20 PureOil (1%)...... 55 Purity Bakeries (4). 26 Radio Corp...... 50 Radiopf A (3%). 62 Radio pt B (5) s 12 Radio-Keith-Orph A’ 142 28 Raybestos Man 2.60. 24 101% Reading (4). L 411, Reading 1st pf (2).. 36% Real Silk (5) 3% Rels (R) & Co. . 20% Rem Rand (50c). ... 81 Reminz-Rnd 1st (7). 93 Reming-Rnd 2d (8). . 10'% Tteo Motor Car (.80). 621 Repub Ir & Steel (4). 3% Reynolds Spring. .. . 39 Reynolds Tob B (3). 43% Rhine West (1.92) 20 Richfield G 15 Rlo Grande Oil (2). . 28 Rosia Ins (2.20) 431 Royal Dutch (a3.20). 90 Safeway Stores(e5). 381 StJoseph Lead (13). 101~ St L-San Fran (8)... 87 St L-San Fran pf(6). 50 St L Southwestern. . 20% Savage Arms (2). 3% Schulte Retail Strs. 914 Seaboard Afr Line. 80 Sears Roebuck (323) 14 econd Natl Inv..... Sec Natl Inv pf (5). . Seneca Copper s Servel Inc. Shattuck (FG) ( Shell Union (1.40) Shubert Theatres. .. immons Co (g3). . Sinclair Con Ofl (2). Skelly Oil (2)... Snider Packing pf So Por Rico Sug (2). outhern Cal Ed (2). outhern Dairies B. . Southern Pacific (6). Southern Rwy (8) Southern Ry pf (5). Spalding (AG) (2) % Sparks Withngtn(1). Spencer Kelg (1.60). Spieger-May-St (3).. tand Brandes (1) . 4 Stand Com Tob (1). . Stand Gas & El (314) Stand G & E pf (4).. Stand Invest Corp. ... Std Oil of Cal (h21%) Stand Ol N J (12)... i Stand Oil N Y (1.60). Stand Plate Glass. .. Starratt (L §) Co(2). terling Sec A . Sterling Sec pf(1.20) Sterling Sec cv pf(3) Stewart Warn (j33) Stone & Webster (2). Studebaker ($5) Submarine Boat 4 Superior Ol. . Superior Steel. Sweets of Ame Symington. .. Symington (A Telauto Cp (1.25). Tenn Cop & Ch (1). Texas Corp (3). Tex Gult Sul (4). Stock and Sales— 30 57 50 Add 00. High. Low. 19% ~Prev. 1920~ High. Low. 23% 9% 24% 6% 51% 25% 39 6% 23% 97% 34 139% 2214 22% 18 15% 64 61% 101% Prev, Close. Close. 3% 8% 19 18% 3 61 3% 3% 18% 2% 5% 3 6% 612 Wabash pf (A) (5).. Wabash pfB........ Waldort Systm (1%) Walworth Co (2).... ‘Ward Baking pf (7). Warner Bros Pic (4). 4 War Bros P pt (2.20) Warner-Quinlan (2). Warren Bros (19)... Webster-Eisenlohr. . ‘Wess Oil & Snow (2) 4 Wess O & Snpf (4).. Western Maryland. . Western Pacific. ... Western Pacific p! Western Union (8).. Westngh Aid Bri(2) . Westinghse E&M (5) % Weston El Ins (1) Westvaco Chlor (2) Wextark Radio (2).. Wheeling & L E pt White Motors (2). White Sewing Mach. Wilcox Oil & Gas. ... Wilcox Rich (A) 2% . Wilcox Rich, B (2).. Willys-Over (1.20).. Wilson & Co. ‘Wilson & Co A. Woolworth (2.40 Worthington Pump. Yellow Truck & C. .. Young Sheet & T (5). 4 Zenith Radio (2).... RIGHTS EXPIRE Am Roll Mill.Feb 15 Col Carbon..Mar 11 N Y Cent. % Penna Ry. Peo Gas & O.Jan 15 Reynolds Spr.Jan 24 Rhine W E P..Jan 23 Sales of Stocks on New York Exclllm 11 W 10:30 A M. 1:30 P.M. Dividend rates payments b in stock. §Plus §3 in 15 Sear—no Tesular Fate. b Pavapie in stock. © Plus 5 &Fusable when €arned. ¢ Payable In cash O stoo stock. & Plus 6% in Stock and Dividend Rate Tex PC&O (b10%). Texas Pac Land Tr. . The Fair (2.40) Third Avenue. Tide Water Asso 60c. Tide Water Oil pf(5) ¢ Timken Det Ax t80c Timken Roller (3)... Tobacco Products. . . Tobacco Products A. Tob Prod dv etfsA. . Transcontinental Oil Trico Prod (2%).... Truscon Stl (g1.20).. Und Elllod Fishr (5). Union Carbide (2.60) Union Oil of Cal (32) Union Pacific pf (4). Union Tank Ci Union Tank ¢ Utd Aireraft& Trans Utd Afreraft&T pt 3. Utd Biscuit (1.60). Utd Carbon (2). Utd Cigar Stores. ... United Cigar Strs pf. Utd Corporation. 4 Utd Corp pf (3). United Elec Coal United Fruit (4).... Utd Gas & Imp(1.20) Utd Gas & Im pt (5). Utd Paperboard Unit Plece Dye W (2) United Stores A..... Udt Stores pf & U 8 & Foreign Secur. U S Freight (3)..... Ind Alcohol (17). S Leather. 4 US Leather A. U S Pipe & Fdry (2). U S Pipe 1st pf (1.20) US Pipe&F 2d pf 1.20 U S Realty (5). : U S Rubber - U S Rubber 1st pf. .. U S Smelt Ref (334). 1 S Smelt Ref pf 3% ] 8 Steel (7)........ 17 8 Steel pf (7). 1niv Leaf Tob (3) Univ Pipe & Rad. ... Util Pwr Lt, A (e2). Vadsco Sales Corp Vanadium (t4) Vick Chemical (23%). 1,393,700 Sales— Prev. Add 00. High. Low. Close. Close 10% 10% 10% 10% 147 14% 30 28 11 . 10% 12% 12% 8T8 87K 16% 16% 7% c » 2 RSN eRa naBenalo~wanna o r (5) r new . 2 ineus =19} renShRereate~Ten 1 1 1 nm oS 45% 146 31% rrmeERanmomnertnfnBeesd cer aanaTnanhian Jan 31 Jan 15 2% 11% " 1% 274 124 6 % E) 8 1% 1% 282,600 12:00 Noon. . 841,200 2:10 P.M. 1,578,500 in the above table xre the annual cash d on the latest quarts:ly or half-yearly declarations. Unit of trading less than 100 shares. tPartry extra. TPlus 4% §Plus 1-25_in stock. & Paid in stock. Tus 10% in JPlus 8% in preferred stock. stock. hPlus 27 in stock. kPlus 3% in stock. m Plus 1%3% in stock. n Plus S0c in Thecial Breferred stock. o Plus 8%% in stock. b Pius % n steek. GOOD PAY ROLLS SEEN IN MONUMENTAL CITY Baltimore Employment Prospects Declared Bright by Com- mercial Expert. Special Dispatch to The Star. BALTIMORE, January 7.—Bright prospects for employment in Baltimore are forecast by H. Findlay French, di- rector of the industrial bureau of the Baltimore Association of Commerce. “Irrespective of new industries in 1930,” Mr. French said, “the firms which recently have come to Baltimore will be employing from 6,000 to 8,000 more workers by the end of the year than are at present employed by these com- panies.” ‘Thirty-nine new industries, represent- ing investments of $4.645,000, were lo- cated in Baltimore during 1929, accord- ing to the annual report of the bureau. ‘The labor requirements of the new in- dustries will be 3,974 workers, the re- port states. Sixty industrial concerns announced plans for expansions during the year calling for the expenditure of $31,667,000 and requiring 4,806 additional workers. ‘The combined total of the new plants and plant expansions represent an in- vestment of $36,312,000 and 8,780 new workers. ‘This, the regofl states, is the largest expansion in the city’s history, with the exception of 1928, when the capital out- lay amounted to $37,525,000. The com- bined investment of 1928 and 1929 more than equaled the four preceding years, the report asserts. Alrcraft manufacturing represented the outstanding industrial expansion in Baltimore last year. Of the 39 factories announced, 20 moved here from other cities and represented $4,505,000 of the proposed plant investment total. MOTOR CAR OUTPUT SET AT 26,000,000 IN 5 YEARS Production of new passenger cars and trucks in North America during the next five years, based on reasonable ex- pectancy, will be around 26,000,000 cars, or an annual average production of about 5,200,000, according to a current survey of the Standard Statistics Co. of New York. ¥ The annual reasonable expectancy for the five-year period would run some- what as follows, according to the survey: .+ $4,941,000 }gg? . 5,098,000 1932 5,219,000 1933 5,325,000 1934 5,417,000 .$26,000,000 Average . $5,200,000 £ Financier Dead. NEW YORK, January 7 (#).—Robert Winsor, 72, senior aciive partner of _ider, Peabody & Co. investment bankers, died suddenly today of & hearc attack. His home was in Weston, Mass. POTATO MARKET. CHICAGO, January 7 () (United States Department of Agriculture).— Potatoes—Recelpts, 64 cars; on track, i | 220; total United States shipments, 638 %' cars; trading fair, market firm on Rus- sets, steady on others; Wisconsin sacked round whites, 240a2.50; few, 2.55; Minnesota sacked round whites, 2.30a 2.35; Idaho sacked Russets, 2.95a3.15; few, fancy, shade higher. Washington Ticker BY CLINTON COFFIN, Associated Press Financial Writer. In spite of the campaign that has been under way for several months to bring about revision of national bank- ing laws, it was quite apparent yester- day as the House banking and currency committee met to deal with the subject that no great need for haste in the mat- ter is seen by legislators. There are no bills yet written to empower national institutions to undertake radical exten- sion of branch establishments, though the demand for such power has been indorsed by Controller of the Currency Pole ang remarked upon by President Hoover. “The fact is, what Congress really needs upon this subject is more infor- mation, and I expect that will be forth- coming in our regular legislative pro- cedure,” Chairman McFadden of the House committee said. “It seems to me that we shall be obliged to have a se- ries of hearings on bills introduced, or to be introduced, and that in the course of them we shall get the views of the Federal Reserve Board and representa- tive bankers on the outlook. The coun- try as yet hasn’t shown much signs of interest in proposals to alter our bank- ing system, though the banking world itself has, naturally, followed the sug- gestions most closely. Whenever the hearings do begin, I assume that we shall also be led to inquire into all the phases of the credit stringency last year and its relation to speculation.” The one measure actually formulated to meet the alleged need of national banks and other institutions attached to the Federal Reserve system for aid in coping with competition of State bank- ing institutions was advanced prior to the committee session by Chairman McFadden. It proposes to enable re- gilonal Federal Reserve Banks to pay more than the present limit of a 6 per cent dividend on the capital stock they have outstanding, all of which stock is held by member banks, a step which has been advocated also in & somewhat different form by Senator Glass of Vir- ginia, former Secretary of the Treasury. Regional Reserve Bank earnings have been increasing, but under present law after surplus and a 6 per cent dividend on stock has been earned the Federal | Government collects most of the bal- ance as a franchise tax. It is the argu- ment of congressional members inter- ested in the policy that membership in the Reserve system would be made sub- stantially more attractive if member| protection. Yet the delay in making the protection applicable has the ironic effect of stimulating most remarkably the foreign competition, against which the bill's provisions are aimed. Tomato shipments from abroad are being heaped up in the expectation that when the high duty goes on.the price will in- cn‘ise sufficiently to justify the advance outlay. A campaign now being launched by the National Coal Association to get back some of the business lost in recent years by coal producers to the oil in- dustry in household heating matters il- lustrates vividly some phases of modern business competition. Oil heating has obtained its vogue in part by reason of the progressive mechanical design of appliances which increase its service- ability for the householder. Now the coal people are following the same idea and, with the ald of manufacturing estab- ishments, are circulating data about a number of small automatic stoking ms chanisms which take over almost com- pletely thé job of firing the home fur- nace, and use coal. ‘These novelties all follow the practices worked out during the last decade for increasing the facility and economy of coal use in large steam plants and rail- road locomotives. What the coal people would like to bring about is an exten- sion of the automatic firing principle in household heating, just as the manufa¢ turers of refrigerating devices were suc- cessful in developing and putting into general use miniatures of the big ice- making machines that ploneered the artificial production of low tempera- . CHAIN STORE SALES CONTINUE TO GROW By the Assoclated Press. NEW YORK, January 7.—Another series of favorable chain store sales reports for December and the full 1929 year were announced today. Included in the list was that of the Childs Co., the report of which showed increases over December, 1928, of nearly 2 per cent, and of more than 4 per cent over the full 1928 year. Included among the companies re- porting and comparative sales figures for December, 1928 and 1929, and for the full calendar years of 1928 and 1929, were the following: Company. Childs Co.. December. . 12 months Met. Chain 12 months ingel Stor 1929, 1928 Stores” . banks got larger dividends on their cap- PELIE ital investment in the regional institu- tions. In trade circles there is evident in- creasing restiveness over the delay in|p, the formulation by Congress of - the country’s new tariff policy. There seem to be a number of situations in which thte lapse of time in fixing a given rate, rather than the rate itself, causes the most business concern. How this works | 1w a specific matter is revealed by Com- merce Department figures as to the im- ports of a single item—canned toma- toes. For the 11 months of 1929, ex- cluding December, American imports of this article, coming ehiefly from Italy, have amounted to 162,000,000 pounds, more than twice the 76,500,000 pounds of like materials imported in the same period of 1928, and a total equal to about half the domestic production. Few observers doubt that the expan- sion in the tomato imports can be di- rectly attributed to- the tariff situation. ‘The present duty on canned tomatoes is 15 per cent, and the House bill proposes to make it 40 per cent, while the Senate, following out the policy of empha: ing protection on agricultural products, has voted a 50 per ¢ent levy. Thus there isn’'t much doubt as to the congressional | purpose of giving the producer great Co. 12_months. M. H. Fishman Co. ia ontns ... 8. H. Kress, 12 month Pender 12 months . METAL MARKET. NEW YORK, January 7 (#).—Copper steady; electrolytic, spot and future, plel Iron steady; unchanged. Tin firm; spot and nearby, 39.62; future, 40.12.° Lead steady; spot, New York, 6.25; East St. Louls, 6.10. Zinc easy; East St. Louls, :D;:lt and future, 5.4025.45. Antimony, PARIS BOURSE PRICES. PARIS, January 7 (#)—Prices were firm on the Bourse today. Three per cent rentes, 85 francs. ive per cent loan, 107 francs 80 centimes. Exchange on London, 123 francs 90!, centimes. ‘The dollar was quoted at 25 francs 42 centimes. * SILVER QUOTATIONS. NEW YORK, January 7 UP)—Bar sllver, 44%; Mexican dollags, 33. STOCKS IRREGULAR: AFTER EARLY GAIN Market Turns Reactionary as Rallies Bring Out Fresh Short Selling. BY STANLEY W. PRENOSIL, Associated Press Financial Editor. NEW YORK, January 7.—Stock prices bobbed up and down within narrow trading limits today, without showing any indication of a definite trend. Trading fell off to the smallest volume of any full session for a year or more, the ticker frequently pausing for seconds at a time because of the ab- sence of business. Commission houses presented a somewhat deserted appear- ance, floor traders apparently account- ing for much of the day’s business. Call money renewed at 41, per cent, but the demand was so light that the rate was dropped to 4 befors midday. ‘This was the lowest rate since February 9, 1928. The time money market was dull, with rates unchanged, but short- term bankers' acceptances were ad- vanced ! of 1 per cent. The day’s business news was rather colorless ~ Private estimates indicated another increase n the daily average of crude oil production last week, but this was attributed, in part, to the opening up of new Oklahoma wells for testing purposes in connection with a pro-ration scheme. Directors of the Pranklin Manufac- turing Co. passed the 50-cent quar- terlyg dividend, due at this time, and Nash Motors reported annual earnings for the year ended November 30 of only slightly more than the $6 annual divi- dend requirements on the common stock. With the exception of Wool- worth, Kresge and National Bellas-Hess, most of the leading chain store systems reported increases in December sales above those of the same month a year ago. . Heavy buying of Radio-Keith-Or- pheum, one block of 20,500 shares changing hands at 235, was one of the few features of today's session. Penf§- sylvania Railroad stock declined to 123, or slightly below the price estab- lished in the November break, wita selling presumably inspired by the ‘ | recommendation of the House inter- state commerce committee for a legis- lative inquiry into railroad holding companies. Union Tank Car broke 10 points, Western Union, 734: General Electric, 7, and Auburn Auto, Air Reduction, Johns Manville, R. H. Macy, American Water Works, Electric Auto Lite, Otis Elevator, Nash Motors, Burroughs Ad- ding Machine, Standard Gas & Elec- tric, A. M. Byers and United States Industriai Alchonol all sold cdown 3 to 5!2 points. United States Steel common advanced to 1697, dropped to 167 and then re- bounded to around 168. Sears-Roe- buck and Montgomery Ward rallied Eodenuly in response to short cover- g. Amusement shares developed pro- nounced strength in the final hour, fol- lowing the bullish demonstration in Radio-Keith-Orpheum. Fox, Loews, Warner Bros., Paramount-Famous ali advanced substantially. Short coverings caused rallies in the low levels of 1 to 3 points elsewhere in the list, with Sears-Roebuck, Republic Steel and Pittsburgh Coal displaying strength. The close was steady. Total sales ap- proximated 2,200,000 shares. DRUG FIRMS’ MERGER REPORT IS CONFIRMED By the Assoclated Press. SAN FRANCISCO, January 7.— Merger of the Owl Drug Co. and Drug, Inc., holding company controlling Lig- gett's and other pharmaceutical com- panies, was announced here by Carl A. Henry, Fresidem. of the Pacific Coast chain of drug stores. The merger will becoT meod{npugf I.mcomedhtelyA N ne Ow! g Co. was organized in 1892 and has retail stores in the prin- cipal cities of the Pacific Coast and Middle West. Present plans, Henry dis- closed, are to operate stores under the name of the Owl Drug Co. He declined to_announce the consideration involved. Drug, Inc., is the controlling agency for Liggett's, United Drugs, Aspirin and Phillips Products. REPORT &P(&Onmfi“ Washington Mechanics Savings Bank Of Washington, in the District of Columbia, &% the close of business on Decensper 311953 RESOURCES. . Loans and discounts . United States Govern: curities owned . . Other bonds, stocks and curities owned . . Banking house furniture 549.645.63 ... Real estate owned panking house ... z . Cash and due from banks . Outside chy nd other cash $1,845,287.77 292,683.77 71,588.50 s 164,198.83 54.381.61 372,636.87 4.853.19 286, $2,805,887.53 LIABILITIES. . Capital stock paid in . Surplus . Undivided ‘profit: | Due to banks. including cer- tifled and cashiers’ checks outstanding . Demand depos . Time deposits . Total .... 32,805,887.53 District of Columbia, City of Washington, ss: 1. THOMAS J. GROOM, cashier of thé above-named bank, do solémnly swear that the above statement is true to the best of my knowledge and belief. OMAS J. GROOM. Cashier. $100.000.00 100,000.00 52,845.40 TH Subscribed ‘and sworn to before me this 4th_day of January, 1930. (Seal)) ERT N, ROBERTS Correct—Attest: TR L . € P. BURTON, Unconditionally B GUARANTEED What Is Guaranteed Income? It means unquestioned safety for invested funds. It means prompt payment of interest on specified dates. Investors in our 6% First Trust Notes, secured by modern, owner - occupied Maryland homes, enjoy guaranteed income, Get the facts. 923 I5th St N.Ww. National 2676 O an [nc-