Evening Star Newspaper, January 10, 1930, Page 12

AL]2 T e FIN ANCIAL," STORE SALES GAIN IN FIFTH DISTRICT Record for Nation Establish- ed, Says Federal Reserve Bank Statement. BY EDWARD C. STONE. Department store sales in_the fifth Federal Reserve district, which includes Washington, made the largest increase in December of any of the 12 Federal Reserve areas. Department :tore sales for December were 2 per cent smaller than in the _corresponding month a year ago, according o pre- liminary _ reports made to the Fed- eral Reserve sys- tem by 478 stores Jocated in leading cities of all Federal Reserve _ districts. Decreased sales were reported by 365 stores and in- creased sales by 113 stores. Decreases were reported for nine Federal Reserye dis- tricts, increases of 2 per cent for the New York and Richmond districts, and little change for the San Francisco dis- William M. Hoffman. t. N triEhe reported decrease in sales in the other districts varied from about 1 per cent in the Cleveland district to more than 6 per cent in the St. Louis, Chica- go_and Minneapolis district n some districts, particularly in the Middle West, heavy snowstorms were a | factor in reducing the volume of Christ- | mas trade. December Sales Comparisons. Percentage changes in total sales be-! tween December, 1928 and December, 1929 are given by districts in the fol- lowing table: Percentage Sfjpcrsais . o of stares se or decren 2 Bertier “in'sales. Inerease. Decrse. United States —1.8 115 365 RoNo%oric B = Philadelphis hi d o Kansas Dallas_...... San_ Prancisco The month had the same number of business days (25) this year and last year. Hoffman Veteran Insurance Man. William M. Hoffman has just been re-clected president of the Firemen's Insurance Co. of Washington after holding this office since January 6, 1921. The honor is considered fully de- served, since he will have completed 38 years' service with the company by une. ne;(t‘gfis as a youth of 19 in the Sum- mer of 1892 that Mr. Hoffman entered the employ of the company as a clerk, after having completed his education in the public schools of Georgetown, where he was born on September 27, 1873. In August, 1903, he was elected assistant secretary of the company, being made secretary four years later. Mr. Hoffman has resigned from most of the clubs to which he formerly be- longed, but retains his affiliation with n Board of Trade, the Natlonal Board of Fire Underwriters, the National Press Club and the Wash- ington Golf and Country Club. He stands high in Masonic circles, having held several important offices. He is past master of Potomac Lodge, No. 5, of Georgetown and also past high priest of Potomac Chapter, R. A. M., of the same section of the city. Eight New Directors Elected. At the annual meeting of the directors of the International Exchange Bank late yesterday eight new directors were add- ed to the board and the old ones re- elected. The directors re-elected were Hugh W. Barr, Peter Borras, Henry M. Camp, Fernando Cuniberti, D. del Vec- chio, Frank J. Kaufmann, jr.; Hugh H. Obear and Louis Rosenberg. The new directors are Attilio di Girolamo, Jo- seph E. Heffron, George Heon, Dr. S. 8. Jaffe, Jerry Maiatico, Dr. R. Mang: 0, George Vournas and Elias Weinstein. ‘The following officers also were re- elected: Fernando Cuniberti, president; Hugh W. Barr, vice president; Frank J. Kaufmann, jr, vice president and cashier; Walter E. Birch, assistant cashier, and Leonard H. Hoyle, assistant cashier. The directors also declared the regu- lar semi-annual dividend of 3 per cent. Claggett Shares Votes Dividend. Announcement was made today by | E. Joseph Aronofl, resident manager of Strabo V. Claggett Co. and a director in Claggett Shares Corporation, that the latter company earned for the quarter ended December 31, 1929, at the annual rate of $2.92 a share and had declared an initial dividend of 50 cents a share, payable February 1 to stockholders of record January 20. Mr. Aronoff is highly enthusiastic over the outlook for the next five years. He expects a good business recovery this Spring, a stronger bond market this year and that common stocks will maintain their popularity. Capital Traction Co. Officers. noted in late editions of yester- Star, John A. Hanna was re- elected president of the Capital Trac- tion Co. at the annual meeting. Other officers are George E. Hamilton, chair- man of the board; H. D. Crampton, vice president, secretary and treasurer; John Fleming, assistant secretary, and ssistant treasurer. The directors include George E. Hamilton, Edward J. Steliwagen, John F. Lar- combe, John M. Perry, John H. Hanna, Charles C. Glover, jr., and G. Thomas Dunlop. Passenger revenues for the year amounted to $3937,171.44, a decrease over 1928 of $104,307.55. TRANSACTIONS ON THE NEW YORK STOCK EXC —Prev. 1929~ Stock and Sales of Each Stock Compiled to 12:30 P. Dividend Rate. %‘::,’;_‘Hl'h, ~Prev. 1929~ Stock and Saler. High Low. Dividerd Rate. 57% 341 Abitibi Power & Pap. 88% 69 Abitibi P& P pf (6). 20 Adams Expr (160).. 7 Advance Rumley. 15 Advance Rumley pf. % Aliumada Lead. 77 Air Reductn (143%). 18% Afr Wal El Ap (2%). 1 Ajax Rubber. . 4% Alaska Juneau 17 Alleghany Corp..... 90 Alleg Corp pf (5%).. 197 Allied Ch & Dye (c6) 51 Allis-Chalmers (3).. Alpha Port Cemt (3). 17% Amerada Corp (2}, :. 18 Am Argicul Chpf. .. 65 5% Am Beet § 412 Am Beet i 27 Am Bosch Magneto. . 40 Am Brake Shoe(2.40) 4'% Am Brown Bov Elee. 6 Am Cap (1)... Am Chicle (12%) m Alco(c].60) ropean See. Am & For Power. .. . Am&Forn Pwr pf(7) 86% - AM&FOR Po 2d pf(7° 17% Am Hawafian S S (2) 40 Am Home Prod (4.20) 29 AmlceCo (4) "% Am International (2) 2 Am La F & Foamite. Am Loco pf (T)..... ch & Fdy (7). 315 Am Metal (3) 5 58 © Am Nat Gas pf (7) % Am Diano. 64% Am Power 1) Am Pow & Lt pf (6). AmP&LPLA (31) % Am P&L pf A st®5), Am Ra&Std San'13. Am Rad & S S pf Am Republies. . 60 Am Rolling Mill (2). Am Ses £) & _35% Am Stecl P 110 Am Steel Fdy y Am Sugar Rfg 18 Am Sumatra (3). Am Tel & Ca (5). % Am Tel & Tel (9) 160 Am Tohacco (8)..... 160 Am Tobacco (RB) (8). 114% Am Tobacco pf (6).. 50 Am Water Wks (c1). 5% Am Woolen. R 15% Am Woolen pf. 7 Am Zinc Ld & Si 49% Am Zinc pf (6)...... 67% Anaconda Copr (7).. 25 Anchor Cap (2.40)... 30 Andes Copper (3). 75 Armour Del pf (7).. 5% Armour I11 (A) s 2% Armour Il (B). 57 Armour 111 pf (7) 6% Arnold Constable 94 Artloom pf (7) 25 Asso Dry G (215) 85 AssoD G 1stpf(6) 341% Asso Oil 195% Atch T & S Fe (10).. 99 Atch T&SF pf (5). 324 AtlG & W Indies 30 Atl Refining (12 . 120 Auburn Auto (j4)... 18 Austin Nichols pf. 34 Auto-StSaf RA (3). 49': Austrian Cred (4.49) 1 4% Aviation Corp Del... 40 5% 15 Baldwin,Loco (1.75). 151 53% 109% Baldwin Loco pf (7).120s 115% 105 Baltimore & Ohio (7) 11 1173 75 Balto & Ohio pf (4).. 2 80 93% Bamberger pf (615).1108 1075 55 Bang & Aroos (3%3). 20 Barnsdall. A (2). 12!4 Beacon Oil 41 Belding-H. ; 75 Belg N Ry pt pf 5.49. 25 Bendix Aviation (2). 25 Best&Co(2)..... 78% Bethlehem Steel (6) . 116% Bethlehem St pf (7). 100 Bloominzdale pt (7). 17 Bohn Al & Brass (3). 70 Bon AmiA (4)... 53 Borden Co (k3), . 26 Borg Warner (4).. 8% Briggs Mfg.... 17% Brizgs&Stratton (2). 23 Brit Emp St 1st pf. . 3% British Em Stl 2d pf. 14 Brockway M T. 40 Bklyn-Manhat (4). .. 99 Bklyn Union Gas (5) 16% Bruns-Balk-Col (3)., 414 Bruns Ter & Ry S Bucyrus Erie (1). ... 26'% Bucyruscv pf (215). 8% Budd (1 G) Mfg (1). 7% Budd Wheel (1), 25 Bullard Co (12) 21% Bulova Watch (3). 22% Burns BrosB..... 29 Burr Add Mch (80¢). 91% Bush Term deb (7). . 4% Butte & Superior (2) 17% Butterick Co. 0 Byers (A M). 647 63% Calf Packing (4) 136% 73% Calumet & Ariz (10), 61% 25 Calumet & Hee (4%) 98% 45 Canada Dry G A (5). 265% 185 Canadian Pac (10)... 48% 27 Cannon Mills (2.80).. 65% 17 Capital Adm (A). 467 130 Case (J 1) (6)..... 50% Caterpillar Trac (3 6% Cavanagh-Dobbs. ... 58 Cavanagh-D pf(6%) 31 Celotex (3).... 21 Cent Aguirre As 1 27% Cent Alloy Steel (2). 50% Cent Rib Mills pf ( 52% Cerro de Pasco (6) 10% Certain-teed Prod. 18 Cbecker Cab (4.20) 160 Ches & Ohio (10). 42% Chesapeake Corp (3) 36% Chi & East 111 pf. 7 ChiGreat Western., 17% Chi Great Westn pf. ., 16 Chi Mill St P&Pac. .. 281 Chi Mill St P&Pac pt 75 Chicago & N W (5) 4 21% Chi Pneu Tool. ... 101 ChiRI& Pac (1) 94% Chi R1& Pac pf (6). 25 Chickasha C Oil (3) 44% Childs Co (2.40). ler Corp (3). . 101 Coca-Cola (4) 44% Coca-Cola A (3)... 10 Collins & Afkman, % Colo Fuel & Iron. 997 Col Gas & 16'% Columb Graph (87c). Dunhill Inter (34) Dupond de Nem (4). Dupontd N deb (6). . Duquesne 1st pt (). Eastman Kodak (18) Katon Axle & S (3).. Elec Auto Lite (6)... Electric Boat. .. 4 Bl Pwr& Lt (1) El Pwr & Lt pf (7) Elec Storage Bat (5) Eng Pub Serv (31) Erie R R 1st pf (4).. Erie RR 2d pf (4)... Evans Auto L($2%). Fairbanks Co. . . Fash Park Asso (2% Fed Water Ser A 2.40 Fid Pho Fire 1(2.60), Firestone T&R(1.60) Firestone T&R pf(6) First Nat Strs (23) . Iisk Rubber. o4 Florsheim Shoe A. . . Florsheim Shae pf 6. Follansbee Bros (3). Foster Wheeler (2).. Foundation Co...... Fox Film A (4)... Freeport, Texas (15) Gabriel Snub A. . Gamewell Co (5) Gardner Motor. Gen Am Tnk Ca Gen Asphalt (4).. Gen Bronze (2) Gen Cable. .. 4 Gen Cable A (4). Gen Cigar (4).. Gen Electric (16). Gen Electric (new).. Gen Elec spec (60c). Gen'l Food Corpn (3) General Mills (3) Gen Mills pf (6). Gen Motors (13.30). . Gen Motors pf (7). Gen Outd Ad vte (2). Gen Public Serv (b6) en Ry Signal (5). .. Gien Refactories (4) Gillette Sat Raz (c5) ¢ Gimbel Brothers. Glidden Co (h2). Gobel (Adolf) Gold Dust (215). Gold Dust pf (6). Goodrich BF (4).... Goodyear Tire (5)... Gotham Silk H (2%) Graham-Paige. Graham-Paige ct Granby Copper (8) Grand Stores (c1). Grand Union. Granite City St Grant (WT) (1). orth pf et (5) ctfsOP (a3%). Grt West Sug (2.80), Grigsby Grunow (2) Guantanamo Sugar. . Gulf Mo & North Hahn Dept Store: Hahn Dept S pf(6%) Hartman Corp B 1.20 4 Hers Houdaille Her B (2). Household Prod (4) . Houston Oil Howe Sound (t414).. Hud&Man Ry (3.50). Hudson Motor (5)... Hupp Motor (£2) Independ OI1 & G (2) Ind Motor Cycle..... Indian Refining. Indian Refining ct. Indus Ray (b5 %stk) . Ingersoll Rand (4) Inland Steel (3%). Inspiration (4)...... Insurance Shars 45c. Interboro Rap Tran. Intercontinental Rub Interlake Iron. Intl Agricultural Int Bus Mach (c6). Intl Cement (4)... Int Combustion. . Inter Comb Eng pf. Intl Harvester 1234). Intl Harv pt (7)..... Int Hydro El A (e2). Intl Match pf (4).... Int Mer Marine ctfs Int Nickel of Can (1) Intl Pap & P A(2.40). Intl Pap & PwrC.... Intl Pap & Pwr pf(7) Intl Rys Cent Am. Int Silver (6).. Int Tel & Teleg (2) Inter Dept St (2) Investors Equity(2). Island Creek Coal(4) Jewel Tea (4) 5 Johns-Manville (3).. Jordan Motor Car. .. Karstadt (R) (1.02). Spring Tire. Kelsey Hayes (2). Kelvinator Corp. Kennecott (5). Kolster Radlo. Kreuger&Toll (1.34). Kroger Gr&Bak (c1) Lambert Co (8)..... Lee Rubber & Tire Leh Port Cem (214). Lehigh Valley Coal. . Lehizh Valley (t413) Lehn & Fink (3)..... Libbey Owens (1. Liggett & My (15). .. Liggett & My B (). Liggett & My pt (7). Lima Locomotive. Link Belt (2.60)..... Liquid Carbonic (4). Toew's, Inc (3)...... Toew's, Inc pt (6%) . Long Bell Lumb A... Loose-Wiles (2.60).. Lorillard (P) Co..... Louisiana Ofl LouG&EIA (1%).. Louis & Nash (1).... Ludluni Steel (2).... 4 McIntype Pore M(1). McK'port T P (14%) McKesson & Rob (2) McKes & Rb pf(3%). ¢ McLellan Stores. ..., Mack Trucks (6) Macy (RH)&Co(c Magma Copper (5) Mandel Brothers. % Man Elec Supply Man Elev mod (45).. Man Shirt (2)... . 9 valubuwahaon AvSalmnlanrnnneE R o e < - S8onuRennoRmmmrnnBonnuasANAR RN SRADSS P ] B E=FY PN N 8 Low 384 1143 1150 100 i 178% ~Prev. 1920~ Stock and Sales— High. Low. 58% 33 Y Dock 132% 80% NY NH & Hart 2 112% 1:4"; YNH&HpPL(D).. 1125 Y Ont & West. 290 186% North Am pf (3).... North Am Ed pf (6). % Northern Pac (5).... or Ger Lloyd(3.41). Norwalk Tire & Rb. . Ofl Well Supply..... Oliver Farm Equip. . Olivr Fr Eq ev pt(3). Olivr Fr Ea pf A(6). Otis Elevator (6). Otis Steel (214) % Otis Steel pr pf (7).. Owens 111 Bottle (c4) Tacific Coast........ Pacific Gas & E (2). . Pacific Lizhting (3). Pacific Oil stubs. . ckard Motor (1) Paramount-F-L (3). Park Utah .o & Parmelee Trans1%. Pathe Exchange. . ¢ Pathe Exchange A Patino Mines (3.89). Penick & Ford (1). Penney J C (2%).... Penn Dixie Cement. . Tenn Dixie Cemt pf. . Pennsylvania RR(4) Phelps Dodge (3). Phila Company ( Phila & Read C & 1 Philip Morris (1) 4 Phillips Pet (c2) Pierce Oil Pierce Ol pf. e 4 Plerce Petroleum. Pillsbury Flour (2). Pirelli Co A (2.88)... Pittshurgh Coal..... Pittsburgh Coal pf Pittsbgh Screw 1.4 ' Rican Am To (B Tostal Tel & C pf(7). Prairie O%G (121%).. Prairle Pipe L (15).. Pressed Steel Car., Proc & Gamble (2) Prod & Refiners Public 8. N ¥ (t . Pub Sve NT pf (6)... Pub Sve NJ pf (7)... Pub Sve E&G pf(6).. Pullman Corp (4). Punta Alegre Sugar. Pure Ol (1%). Purity Bakeries Radlo Corp... Radio pt B (5). Radio-Keith-Orph A. Raybestos Man 2.60. ¢ Reading (4). .. Reading 2d pf ( Real Silk (5).. < Rem Rand (50¢). . 1 Reming-Rnd 2d (8) .. Reo Motor Car (.80). Repub Ir & Steel (4). Revere Cop & Brass. Tteynolds Spring. Revnolds Tob B (3). 4 Rhine West (1.92), Richfield Oil (2).. Rio Grande OI1 (2) Rossia Inc (2.20).... Royal Dutch (a3.20). Safeway Stores(e5). ¢ St Joseph Lead (13). St L-San Fran (8)... St L-San Fran pf(6). Savage Arms (2).... Schulte Retail Strs. . Seaboard Air Line. .. Seaboard Afr Line pt Seagrave (e1.20).... Sears Roebuck ($21) Second Natl Inv. -} Shattuck(FG)(t13%). Shell Union (1.40)... Shubert Theatres. Simmons Co (g3).... Simms Pet (1.60).... Sinelair Con Ol (2).. elly Ol (2).. . Sloss Sheffield Steel. Snider Packing...... Snider Packing pf... % So Por Rico Sug (2). 5% Sonthern Cal Ed (2). Southern Pacifle (6) . Southern Rwy (8)... Spang-Chalfant... .. Sparks Withngtn(1). Spicer Mfg Dividend Rate. Add 00. Hish. E 5 3 THE EVENING STAR, WASHINGTON, D. C, FRIDAY, JANUARY 10, 1930. Timken 10:30 A.M. Dividend rates 6% 115 115% fherts Wabash pf (A) (5).. Wabash ptB..... Waldort Systm Ward Baking B. Ward Baking pf (7). Warner Bros Pic (4). War Bros P pf (2.20) Warner-Quinlan (2). Wess O & Sn pf (4).. 4 Westn Dairy A (4) Westn Dalry (B) Western Marylan Western Md 2d pf... Western Pacific. ... Western Pacific pf. Western Union (8). . Westngh Ald Brk(2). Westinghse E&M (5) Weston El Ins (1)... Westvaco Chlor (2). White Eagle Oil (2). White Motors (2). White Sewing Mach. White Sw Mch pf (4) Wilcox Rich, B (2).. ‘Willys-Over (1.20).. Woolworth (2 Worthington Pump. Worth Pump B (6). . Wrigley Wm (4) Yellow Truck & C. Young Sheet & T (5). Zenith Radio RIGHTS EXPIRE Am Roll Mill.Feb 15 Col Carbon..Mar 11 N Y Cent....Jan31 Penna Ry....Jan15 Peo Gas & O.Jan 15 Reynolds Spr.Jan 24 Rhine W E P..Jan 23 Sales of Stocks on New 508, 2 FINANCIALS HANGE | Stock and Sales— Dividend Rate Add 00. High. Stand OIIN J (12)... 109 65% 64% 64% 65 i Stand OIIN Y (1.60). 29 33 324 22% Stand Plate Glass. WU 2% Sterling Sec A...... 1% 10% 10% Sterling See pf(1.20) 3 12% 12% Sterling Sec ev pf (3) 8% 38 36 Stewart Warn (J3%) 5 41 40% 40% | Stone & Webster (2). Studebaker (35)..... Submarine Boat. Y Superior Ofl. . o 6% Superior Steel. 21% 2% Symington. % 3% Tenn Cop & Ch (1)... 13% Texas Corp (3). . 55% Tex Gult Sul (4). s Tex PC&O (b10%). Texas Pac Land Tr. . Thompson J R (3.60) Tide Water Asso 60c. Timken Det Ax t80c Prev. Low. Close. Close. 80N B1% 434 43% ke 6% Roller (3)... Tobacco Produets. .. Tobacco Products A. Transcontinental Ofl Trico Prod (2%).... Truax Traer (1.60). Truscon Stl (g1.20).. Und Elliod Fishr (5). Union Carbide (2.60) Union Oil of Cal ($2) Union Pacific (10)... Utd Alrcraft& Trans. Utd Alreraft&T pf 3. Utd Biscuit (1.60)... Utd Carbon (2) Utd Cigar Store: Utd Corporation. . 4 Utd Corp pf (3)... United Elec Coal United Fruit (4). Utd Gas & Imp(1.20) Utd Gas & Im pf (5). Unit Piece Dye W (2) United Stores A..... Udt Stores pf. U S Distributing. # US & Forelign Secur. U S & For Sec pf(6). U S Freizht (3) U S Hoffman (2)., U S Ind Alcohol (17). U S Leather. U S Leather A.... U S Pipe & Fdry (2). U S Pipe 1st pf (1.20) % U S Realty (3). U S Rubber......... U S Rubber 1st pf, U'S Smelt Ref (33%). US Smelt Ref pf 3% . U S Steel (7). Unlv Pipe & Rad. Util Pwr&Lt A (e2). Vadsco Sales Corp. Vanadium (t4) Vick Chemical P » By e L =L R T P 500 1:30 PMLLL 1010 1,774,700 iven in the above table are the payments based on the Iatest quarterly or hall-yearly dec annual cash shares. k. 1Pl year—no regular rate. yal @ Pasable when esrned. e Fayable 5 17 11 . Pl 11 tock. 3 61 60% 61 60% | stock. Kk Plus 3% in stock. m Pl Washington Ticker BY CLINTON COFFIN, Associated Press Financlal Writer. Chairman Legge and his helpers of the Federal Farm Board, having set up at least the outlines for central market- ir - agencies that will handle agricul- tural products on a national scale, are allowing some glimpses as to what will be their further program for meeting 1930 crop year problems. One phase of this is exhibited by the appeal to pro- ducers, particularly of grain and cotton, to curtail output so as to reduce the amount of crop surplus above domestic consumption that will have to be sold or export markets. A second line of procedure, ¢n which the board has not committed itself as yet by specific ac- tion, relates particularly to grain, and calls for experimenting with the possi- bility of getting international co-oper- ation of Canadian and Argentine wheat producers, in facing world buyers of that portion of North and South Ameri- can grain which must go into European consumption. Chairman Legge has initiated some approaches to the management of the Canadian wheat pool, which agency controls practically all of the Canadian | crop, but it is apparent that Argentine farm organization has not developed far enough to enable any dealings in that direction. Discussions around the board, though, make it apparent that some- thing approaching an alliance between t' . Canadian grain agency and the new central wheat marketing corporation set up under the board's leadership will be sought in coming months. Since Can- ada furnishes in excess of 300,000,000 Postmaster General Brown has indi- cated that the construction expenditure on new ships might go even above this figure, and estimates of the perform- ance anticipated do vary considerably. ‘Without carrying the detalls too far, it can be said that the Federal Govern- ment policy makes the mail pay com- pensate American ship operators to a considerable degree for the higher costs they have to meet, as compared with | those of foreign competitors. The fur- ther Government aids comes in the line of loans obtainable under the Jones- ‘White bill, which furnished the Ship- ping Board with $250,000,000 to advance to builders at 3% per cent interest on long time. A mail contract plus a build- ing loan is the key to the shipbuilding outlook for nearly all the foreign-going lines under American ownership. It is now figured that about 3,500,000 gross tons of shipping are sailing under the American flag, and that the aver- age age of the tonnage is at least 10 years. Normal requirements for re- placement on this tonnage is estimated to be about 215,000 tons per year, and since better and faster vessels are usu- ally provided, it is the expectation that American yards will have to turn out least 215,000 tons of shipping per an- num for the next few years, at a cost of between $225 and $250 per ton. Any increase in American foreign trade, or any relative advance in the proportion of it carried in American bottoms, will operate to stimulate this total vastly. Holiday trade over the United States, as a whole, came very close to match- ing the volume of 1928, but actually did not do so. This can be said in the 1.1t of definite figures given the Fed- eral Reserve Board by the 478 largest Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., January 10.— Potatoes. white, barrel, 1.50a4.00; 100- pound sacks, 1.75a2.65; sweet potatoes, barrel, 1.50a3.00; yams, barrel, 2.00a 3.00; beets, crate, 2.75a3.00; beans, hamper, 1.50a3.75; cabbage, hamper, 40 a65; carrots, 100, 2.00a4.00; caulifiower, crate, 1.25a2.25; celery, crate, 1.50a3.25; eggplant, crate, 3.00a5.00; lettuce, crate, 4.50a5.25; kale, barrel, 1.25a1.50; onions, 100 pounds, 1.75a2.00; peppers, crate, 3.00a4.00; peas, 5.00a5.50; parsnips, basket, 50a65; spinach, bushel hamper, 50a90; apples, bushel, 75a2.25; cran- berries, box, 3.00a4.75; grape fruit, box, 2.50a4.75; oranges, box, 2.15a4.50; tangerines, box, 1.25a2.40; strawberries, quart, 30a40. Live Stock Market. Cattle—Receipts, 500 head; moderate supply; market steady. ‘Steers—Choice to prime, none; gocd to choice, 12,50 to 13.00; medium to good, 11.50 to 12.50; fair to mediur, 10.25 to 11.25; plain to fair, 9.25 to 10.25; common to plain, 8.25 to 9.25. Bull-—Choice to prime, none; good to choice, 9.00 to 9.50; medium to good. 7.75 to 8.75; fair to medium, 7.00 7.50; plain to fair, 6.00 to 7.00; com- mon to plain, 5.00 to 6.00. Cows—Choice to prime, none; good to choice, 8.00 to 8.50; medium to good, 7.00 to 7.75; fair to medium, 6.25 to 6.75; plain to fair, 5.00 to 6.00; common to plain, 3.00 to 4.50. STOCKS IRREGULAR IN PROFIT TAKING Resumption of Advance Re« sults in Selling—Market Turns Dull. BY STANLEY W. PRENOSIL, Associated Press Financial Editor. NEW YORK, January 10.—Heavy profit-taking impeded the resumption of the recovery in today's stock market, although operators for the advance con= tinued to retain the advantage. Early gains of 1 to nearly 7 points were cut down and in a few cases wiped out, and converted into moderate declines. Trad= ing, which started off at a brisk pace, turned dull in the early afternoon. An increase of nearly 300,000 tons in the unfilled orders of the United States Steel Corporation was the most impor= tant business development of the day. The gain, however, probably was due to a shutting down of operations last month rather than to any unusual increase in demand. United States Steel common; which advanced 2' points to 173'¢ in the early trading, practically lost all of its gain in the wave of profit taking which followed the announcement, but soon crossed 172 again, Sloss Sheffield Steel ran up 5 points, Call money renewed unchanged at 412 per cent, but the supply of new funds was not as plentiful, and it looked as though the rate would be maintained instead of being dropped to 4 per cent, as it has in the three preceding sessions, The time money market was quiet. Despite the optimistic statements coming from automobile executives at- tending the annual motor show here, the automotive Issues continued heavy. Nash, Chrysler, Hudson, Timken Roller Bearing and Hayes Body all yielded a point or more, ‘while Auburn lost it early gain of 5! points by early aft noon. Western Union, which soared 1474 points yesterday, fell back 5% today, and American Machine & Foundry, which closed yesterday with a gain of 5% points, was hammered down 7% to- day. International Silver fell back 7 points, and American & Foreign Power, Simmons Co., Firestone Tire, Fox Film |:m;end Andes Copper lost 2 points or American Zinc preferred ran up more than 6 points, Otis Elevator 3 ang Houston Oil, J. 1. Case, Columbian Car- bon, Allied Chemical and Loufsville & Nashville agvanced 3 points or more. BRITISH BANK RATE REDUCTION FORECAST Decrcase Would Relieve Credit Strain on Business in England. BY CHARLES F. SPEARE, Special Dispatch to The Star. NEW YORK, January 10.—Trad in stocks who had been depending un’: reduction yesterday in the Bank of England rediscount rate to 414 per cent to bolster up their commitments were disappointed when the cables from Lon- don brought word before the opening of the market that the governors of the English institution had decided to make no change, although from every quarter ggmc tgedn!efi::);hthe:ed‘ were positive pre- ns e rediscount be lowered. i This action seemed to be one of ex- pediency rather than a result of any | new developments in the London money market. As a matter of fact, the Bank of England statement made a great in over that of last week in showing an increase in gold of more than.$15,- 000,000 and a reserve ratio of 36 per cent, compared with less than 23 per cent the week previous. London is as anxious as New York to establish her money market on an easy basis, not only to benefit domestic trade, but to | improve the market for new offerings of foreign securities out of which Eng- land usually gets some reciprocal values in the way of exports of British manu- factured products. The fact that sterling exchange has been declining sharply of late and has now moved so far away from the gold point as to prohibit further exports from the United States, and thereby bring a temporary check to the upbuild=- ing of the Bank of England gold hold- ings, may have had something to do with the day’s decision on the bank rate, which is still out of line with Lon- don open market rates. All foreij exchanges have been conspicuously weak until today, when there was some rally. Compared with the high level established toward the end of Decem- ber, there is now a decidedly weak as- pect not only to exchange on London but in the rates of Dutch, Swiss, Ger- man, French and Scandinavian ex- changes. ‘The collapse in Spanish exchange has been one of the notable features of the international money market during the past week. Although today pesetas were higher in New York, they touched a new low record in London. Spanish exchange is now below any rate quoted since 1898. Its quotation has been af- fected by the political disturbances in Spain, but bears a relation to the finan- clal operations growing out of the re- cent loan made by the government, and particularly as this affects the peseta and the pound sterling. Spain has come into prominence the last few days along with China, India and Mexico as a country whose political and financial conditions are both in disorder, with the one having a marked bearing on the other. UNITED CIGAR STORES. NEW YORK, January 10 (#).—A re- duction of about 46 per cent in the net profits of the United Cigar Stores Co. of America for the year ending December 31, 1928, from the figures an- any early last year, bushels of wheat for world markels in | department stores of the country cover- | *Heifers—Gholce to prime, none; good | Jounced bY the company early last vear, anything approaching a normal year,|ing their business for the entire month | to choice, 10.00 to 11.00; medium to loss statement issued by the account- While the United States surplus going | of December. The unstated total of | good, 9.00 to 10.00; fair to medium, [ 1055 StAtement lssued | cxgmining the to the same destinations, even When | their sales for the period was reported |8.00 to 9.00; plain to fair, 7.00 to 8.06: books of the company for.the present flour is added, may be less than half | t5 the board as 1.8 per cent less than | common to plain, 6.00 to 7.00. management. 3 that, it is obvious that there is a co last year. g Bus passenger revenues totaled $247,- | 3 105 Columbian Carb (16) 35 181% 670.33 in 1929, an increase over the 1928 2 18 Com Credit (2) 20 27y total of $4,689.28. 28 Comm CreditA (3).. 12 3614 Special bus revenues amounted to| 2 20% Com Cred pf B (2)... 308 2314 $73,059.43, an increase during the year 5 70 Com Crd 1stpf (61%)100s 79 of $52,604.36. 9 28% Coml Inv Tr (g1.60). 10 40% Marmon Motor (4) Martin-Parry. Mathieson Alk s May Dept Stores(c2) Maytag Co (12) - Net operating revenues of the Capital ‘Traction Co. for the year reached the sum of $1,229,534.50, a decrease over the previous year of $49,632.37. Gross income for the year amounted to $028811.63, a slump over 1928 of $45.313.98. After all deductions from gross in- come. amounting to over $366.000, the company had a total net income of $561,974.43, a decline of $58,431.17. ‘The credit balance at the close of the r was $759.592.96. or a decrease com: pared with 1928 of $248,534.63. Capital Traction Advances. Capital Traction stock jumped yes- terday’'s price of 77'> to 81 on the Washington Stock Exchange today. was bid upward on a turn- 15 shares, a 10-share lot . 1e market closed with 80 offered for the stock and 83 asked. The annual report, out yesterday, and the 10-cent fare ruling by the Supreme Court in the Baltimore have attracted special attention to Capital Traction. Washington Railway & Electric sold today at 43, three shares of National Savings & Trust Co. sold at 513, and a single share of Potomac Electric 6 per cent preferred appeared on the board at 110%. There were six 10-share-lot - sales in Commercial National Co. pre- ferred at 9915 and six more at the same | figure after call. Washington Gas A and B 6s and 201 Comm Solvents (1).. 195 3 " 105 Comwlth Power((4). 2 129 24% 10 Comwlth&Sou(60c). 220 14% 35% 11 Congoleum-Nairn.., 961 40 Consol Cigar (7). 100 70 Consol Cigar pf (7). . 40 Con Cgr pr pf x wé 15% Consol Film pf (2).. R0 Consol Gas 45 Consol RR Cub pf(6) % Consol Textile...... 12 Container Cor A 1.20. 5% Contl Baking A 4% Contl Baking B 7914 Contl Baking pf (8). 4015 Contl Can (2%)..... 46'% Contl Insur (2 5% Continental Moto, 18 Contl Oil of Del..... 28% Contl Shares (1).... 70 Corn Prod (13%) 20% Coty Ine (g2). . 24 Creamof Wht(12%). 15 Crosley Radio (1). 47% Crown Cork & Seal. . 71 Crucible Steel (k5).. % Cuba Cane Sugar. ... 1% Cuba Cane Sugar pf. 5 (OUDEIG0, <. iiee sbs 6% Cuban-Amer Sugar. . 36 Cudahy Packing (4). 6% Curtiss Wright Corp. 13% Curt Wright Corp A. 58 Cutler-Ham (33%)... 21% Davison Chem 20 Debenham's (a2.32). 226 1411 Delaware & Hud (9). Capital Traction 5s were the only bonds in demand today. Spain will increase its merchant ma- e, N/ 77% 49 Denv& RG W pf. E 385 151 Detroit Edison (8).. 2 200% 11% 6 Dore Mines (1) &R 54% 12 Dominion Strs (1. 5 22 . 260 1033 9215 Consol Y pf(5) 2 1004 NY 126% 69 LrugCorgn (Mlgagee. 40 &0 Wie W . ARMAN NX. Maytag Copf (3).... Mexican Seaboard. .. Miami Copper (4)... Michigan Steel (2%). Mid-Continent P (2). Middle States Oil ct.. Miller Rubber....... Minne&Hon Reg(t Minn Moline Pwr. Mo Kan & Texas. . Mo Kan & Tex pf(7). Mohawk C Mills (3). Monsanto Ch (g1%). % Montgomry Wrd (3). Moon Motors. Morrell J (3.60). Mother Lode (40c) Motor Products (2).. Motor Wheel (3) Mullins Mfg. ... Munsingwear (3).... MurrayCor (b2 % stk) Myer(FE)& Bro (2). Nat Cash Reg,A(14). Nat Dairy (32 atl Radiator pf.... atl Rys Mex 2d pf. atl Supply (5). atl Surety (5). at Tea Co (2) evada Copper (3).. VoAt 3.69) waZoupaBoahnenionnshivonssnion Bennss oo amenansooa 2 & oue oo Eeanan ol Ewanm—Rn 8 & ntral (8). ... B & S L(B)ans mon interest. Whether mutually profit- able marketing procedure can be de- veloped remains to be seen. As to crop curtailment urgence, the board is following a course taken by the Agriculture Department in several pre- vious years. It cannot be said that the previous suggestions from Washington have influenced producers toward acre- age reduction in any marked fashion, but the board has the prestige of its newness in the matter. It is tackling the problem of overproduction of farm output®early, in the hope that it can prevent the 1930 surplus from weighing down market prices, and there is no question that the extension of local farm organization under way gives many people hope that a measure of success can attend the reduction cam- paign. The market prices on the great produce exchanges can be watched in ensuing weeks for fluctuations that will register speculative opinion on the sub- Ject. Summarizing varled _collections ot data from Shipping Board and inter- departmental records, and in the light of congressional appropriations commit- tee action, it seems that the prospects recently raised for an active shipbuild- ing year along American coasts have not yet been appreciably dimmed. Con- gress is now expected to give the Post Office Department about $20,000,000 to expend on ocean mail carriage during the year beginning next July 1, and by reason of the peculiar arrangement of loans and aids lent to mercantile ma- rine construction this allowance is fig- ursd by mest of ghe exparis ta guaran %! toe an expopditugs of about £175.000,- There proved to be, also, a good deal of variation in districts of the country as to holiday trade, a part of which the board's summary attributed to weather conditions. Around New York City, and on the Pacific Coast, as well as in Middle Atlantic territory, there were increases in holiday buying over last year, while the greatest decline was noted in the Chicago Reserve district. As the figures worked out, 113 stores re- ported an increased business over last year, and 365 decreased sales volume. However, in no district did the decreases reach formidable proportions, and most observers will rate the showing as a demonstration that the stock market panic has failed to precipitate business depression. Coincident with the decline in rail- road freight trafic which came to be experienced in December, carriers of the country have improved an opportunity to get equipment in condition. The American Railtway Association, in con- nection with the point, announces that on December 15 the total number of freight cars awaiting repairs in the country had been reduced to 122,552, which 1is a’less total than has been re- corded on any date in the last 10 years. Since railroads now own and operate more than 2,000,000 freight cars, the total output of repair at the present fime is figured to be 5.5 per cent of all the carrier rolling stock in this classi- fication. ,sp‘;-esh cows and springers—$60 to Sheep and lambs—Receipts, 400 head; light supply, market steady; sheep, 2.00 to 6.00; lambs, 6.50 to 15.00. Hogs—Receipts, 500 head; light sup- ply, market lower; Lights, 10.60 to 10.85; heavies, 10.25 to 10.70; medium, 10.60 to 10.85; roughs, 7.50 to 9.35; light pigs, 10.00 to 10.50; pigs, 10.50 to 10.75. Calves—Receipts, 75 head; light sup- ply; market steady; calves, 7.00 to 17.00. Hay and Grain Prices. Wheat—No. 2 red Winter, spot, 1.29; No. 2 red Winter, garlicky, spot, 1.27; January, 1.27; No. 3 garlicky, no quotations. Corn—No. 2 domestic, yellow, new, 1.05a1.06; cob corn, new, 4.60a4.70. Oats—No. 2 white domestic, spot, 55; No. 3 white domestic, spot, 54. Rye—Nearby, 90a1.00. Hay—Receipts, none. Season for old hay is about over. A little new crop is arriving, but hardly enough upon which to establish quotations by grades. Where in good order new hay sells at from 14.00a17.00 per ton, according to its quality and condition, receipts by truck taking care of most requirements. Straw—Little demand for straw. Re- ceipts generally ample. Wheat straw, No. 1, per ton, 9. 0.00; oat straw, No. 1, per ton, 9.00210.00. Bandits Steal Alcohol. NEW YORK, January 10 (#).—Rob- | bers bound and gagged two watchmen " topels remint 1 mpein in the yards of th: Wa]ulfmm service Cretseiting, 1 B: 5 e yoar mumber 59 per eent | ol ninc 52-gallon dr 2 —+aleohol, - : ‘The net profits for 1928 as an- nounced by the company amounted to $8,352,762, whereas the revised state- ment of the accountants showed that the profits totaled only $4,525,609, Several months ago control of the Uni*ed Cigar Stores passed from the ‘Whalen group, its organizers, to inter- ests headed by George K. Morrow, president of the Gold Dust Corporas Soon afterward the new man- agement ordered that an audit be xgade of the United Co.'s books. U. S. TREASURY RECEIPTS. By the Associated Press. Treasury receipts for January 8 were $5.236,693.16; expenditures, _$11,402,~ 136.79; balance, $143,041,446.43. WE have several new commer- cial investment prop- erties showing a re- turn of 10% or better. Call H. L. Rust Company 1001 15th St. National 8100