Evening Star Newspaper, January 15, 1930, Page 14

A-—14 ' ¥r% SEABOARD AIR LINE CREDIT IMPROVED President Powell Company Is Now on Firm Financial Basis. BY EDWARD C. STONE. The Seaboard Air Line Railway Co. has received more than $20,000,000, after all expenses and commissions, from the sale of common stock at $12 a share, according to President L. R. Powell, jr. In this latest statement, Mr. Powell makes other reports of deep interest to local stockholders. The company's plan, dated May 37, 1929, relating to its 5 per cent adjust- ment bonds, has been consummated, as a result of which $22,458,000 princi] amount of adjustment bonds, Wi more than $4.500,000 of accumulated unpaid interest thereon, have been sur- rendered in exchange for $11,229,000 first and consolidated bonds, series A; 336,870 common shares, and warrants entitling holders to subscribe to 224,- $80 common shares. In connection with this plan, company has paid off $3,000,000 ox bank loans and its $2,000,000 10-year note to the director general of rail- roads, due March 1; 1830. Balance realized from sale of common stock is available for general corporate pur- poses. Commenting on the progress of the company’s plan, Mr. Powell stated: “The receipt of this cash and the min- imum net debt reduction of about $15,750,000, together with the $5,000,000 loans paid off. establishes company's credit on a firm foundation and greatly adds to the possibilities of the _prop- erty.” More Local Bank Directors. More new local bank directors were elected at annual meetings held late yesterday afternoon. The Continental Trust Co. added two to its board, the Lincoln Nlnonn added one at yum- day’s meeting, wi e Pranklin Na- tional and the Con!lnentll ‘Trust_made important promotions among officials. ‘The complete list of directors and of officers so far as elected, appears else-: where in The Star. Further annual stockholders’ meet~ ings are due to be held next Tuesday, among them being the National Sav- ings & Trust Co., the American Secur~ ity & Trust Co.. the Munsey Trust Co. and the North Capitol Savings Bank. Reports made at the annual meetings already held indicate that the local | banks had an excellent year in 1929. Up to October the banks did a record- breaking business. There was a con- crease in mail that the industry is on & paying basis for the first time. Heard in Financial District. ‘Maurice Oturbu:k. presldcnt of the Bank, is passing a va- eation in Havans, Cuba. He also pians | 192% ‘o bask for a time in the breezes in ' and rest. She is one of the woman bank executives in the country. Pred W. McKenzie. president of the Declares m . FINANCIAL —Prl'. 1 Stock and Sales— Prev. High. Lo Dividend Rate. Add 00. Righ. Low. Clnse. Close 8T 34% Abitibl ro--rnr-p 10 27 26% 271 26% 88% 69 Abitibi P&Ppt 2 69 69 69 T0% u 20 Adams Expr (1 0) o T 26% 25% 26% 25% 7 Advance Rumley.... 3 14% 144 14% 14% 15 Advance Rumleypf. 1 % 284 w4 2% % Ahumada Lead...... 1 230 77 Alr Reuctn W5 6 1300 1278 1200 12005 48% 18% AirWalBlAp (2%). 2 24 21% 24 22 1% 9 2 2% 2% 10% 2 emp ‘g B 8 5614 185 26% 26% 264 26% 118% 4 9T% 97 9T 98 354 197 Allled Ch& Dye(n6). 4 269% 268 268 269 761 354 Allie-Chalmers (3) 8 8% 61 of% 50% 1% Treglicrys 3 428, 7 19% 19% 19% "0’- 20% 1 10% 10% 10% 11 76 27 2 4%% 437 437 1261 113 Am BrS&Fpf (7).. 10s 1181 118% 11 i 34% 4% Am'BrownHovElee. 4 10% 10 10% 10 104 49% AmBrown BEDI(7) 50s 64% 6416 64% 63 18415 86 AmCan (4). .+ 102 126% 1281 1254 123% 106 75 AmCar&Fay (6)... 2 s&: 79% 80% 80 81% 27 AmChicle (12%).... 2 4 403 40% 39% 55 20 Am Com Aleo(n1.60) 23 3%% 31 324 31% 47% 18% Am Encaustic (2) 24 24 24 24 981 23 Am European Sec. 87- 37 37 3% 199% 50 Am & ForPower.... 250 96% 94w 951 95 100 95 Am&For Pwpf(6). 10s 861: 8613 861 98 108% 101 Am&Forn Pwr pf(7). 1 mm 107% 1071 108 103 86% Am&FornPwr2dpf. 8 97 9T 9Th 42 17% Am HawailanS S (3) 1 22 g s 9o 54 29 AmIceCo (14). 37 97 37T 8% % 29% Am Internatiomal (33 10 sa% a7 38 38 8% 2% AmLaF&Foamite. 1 2% 2k 2u 2% 75 27% AmLaFr& Foampfl00s 30 30 30 32 136 90 Am Locomotive (8).. 1100 100 100 102% 81% 31% Am Metal (3). 6 45% 454 Lo 98% 58 Am NatGaspt (7).. 50 n 67 17% % Am Plano........... lt "fl 175% 64% Am Power & Lt ($1) s e sz mes 8 104 92% Am Pow & Lt pfu). 2 101% 101% 101% 101 80 70 AmP&LDLA (3% Iy W 1 e R 10 AmPALpEAS (). 4 81 81 81% 55% 28 AmRa&StdSan13. 13 31% 31 31% 125 Am Republics. . 424 24 60 Am Rolling Mill (") 13 874 85N 8615 17 Am Seating (2). 1 21% 19% 225, 62 Am Sm & Ref (4. 10 73% 71 728 123'% AmSm& Refpf (7). 1137 137 137 56 AmSugarRfg(5)... 11 63 63 63 ‘18 Am Sumatra (3) 7 2% 20% 21 17 Am Tel & Ca (5) 108 6% 26% 268 1931 At Tél& Tel (9). 3 220% 219 220 2198 160 Am Tobaceo (3) 1206 208 206 202% 160 Am Tobaceo (B) 12 207% 202 207% 2034 50 At Water Wks (n1), 17 951 93% 95 944 97 AmWater Wist(6). 1102 102 102 102% 5% Am Woolen...... 10 9% 9% 10% 15% Am Woolen pt 2m% 31% 28 Am Writ Paperpf (3. 30 30 7 AmZincLd&Sm... 10% 11% 67% Anaconda Copr (7).. 8% TAW 80 25 Anchor Cap (2.40).., 42 4% 4915 181 Archer-Dan-M (2).., 251 26 95 756 Armour Del pf (7).. 804 80% 18% 51 Armour I11 (A)..... 5% BN 10% 2% Armour TN (B). goi ey 8 57 Armour 11l pf (7). 62n 62 58% 34 Asso Appl Itd (4)..4 361 361 To% 2 AwsoDey Guazip)... 47% Asso Ofl (2). . 29884 195-. Atch T & S'Fe (10).. 25 104% 99 - Atch TASFpf (5)... 110815 103% 103% 10%% 209% 161 Atl Coast Line (+10). 1 169% 1691 169% 166 86% 324 AtlG& W Indl 2 6% 5% 76% T6% l 101%5 101% 101% 99% 26 26 26 9 22% Burns Bros B. . 105% 88 Burns Brospf (7)... 20- 98 98 96% 29 'Burr Add Mch (80c). 6 46% 45 best known | 265% 185 17% Butterick Co. 50 Byers (AM). 84% ' 68% Calif Packing (4).... 36% 73% Calumet& Aris (10). 61% 25 Calu & Heela (24%). 49% 29 Campbell Wyant (2). 98% 45 CanadaDryGA (6). Canadian Pac (10) 48% 27 Cannon Mills (2.80). 65% 17 Capital Adm (A),... ‘Tolman Laundry Co. is in Chicago| 467 130 Case.(J1)(6)....... ettonding a meeting of the directors of | 61 5014 Caterpillar Trac (3). l(\h" cof Laun-ering. 42'% 6% Cavanngh-Dohbs. ... DS a4 New ,oanom\ 48 21 Cent Apufrre As1%. T t TN, on January'18. | 59n i, The pn‘fencd stock of the Commercial | 1121 11 : National Co. has been withdrawn from | 2 ‘'the Washington Stock Exchange be-| 120 : cause of the liquidation plans. 32 i J. P. Morgan & Co. Kuhn, Loeb &| 70% 18 Checker Cab (£.20). i Co.; First National Bank, Guaranf 279% 360 GhieEONISAIN) . i Co. ot New Yor‘ls,s and ul;adanu City ! Co. are offering $35,083,000 Chesapeake m i ;Ohio 1t mgrtico 41 v m cny H [provement wr e‘n + bonds, series B, of 1995 at 94 and in-| 44% 16 ChiMill StP&Pac... 1 terest to yleld 4.80 per cent. 28% Chi Mill St P&Pac pf. ! 'The quick over-subscription of the| 1081 75 Chicago&NW (5).. i American Telephone $150,000,000 5 Der | 473 215 Chi Pne Tool. . { cent debentures aroused great interest| 1431 101 ChiRI& Pac (7). ! in banking and investment circles in| 103% 94% Chi RI& Pacpf (6). iy It was the first recent| 109 . 100 ChiR [& Pacpf (7). i vestment conditions. 615 Chi Pneu T pf 1315). ‘hance. g nge today in moderate trading. Potomac Eleclflc Power 52 per cent preferred stock moved at 107. The first | sale in Washington Railway & mecum: common stock was recorded when 10 shares sold at 500, same as the last | previous sale. Railway & Electric pre- ! Zferred moved at 94%. District National Securities preferred sold at 95, Federal-American Co. pre- ferred sold at 100, while Mergenthaier moved at 106', and 1065%. Carpel | Croporation changed hands at 24. H Five shares of Capital Traction sold | at 83, up half a point to a new high on this move. Peoples Drug Stores pre- ] fer registered 104. Bond trading was confined to Washington Gas issues | at recent levels. i HEADS TRUST CO. Stone Re-elected at Clarendon for Ninth Term. | Prank T. Stone was re-elected to ! merve his ninth term as president of the Clarendon Trust Co. at the annual meeting held in the bank building at Clarendon last night. Other officers ! elected were: Dr. Richard N. Sutton, | chairman of the board; Clyde C. La- mond, first vice president; Conrad Smith, second vice president; Thom: E. Sebrell, jr., secretary-treasurer; E. H. i Piggott, assistant treasurer, and Charles T. Jesse, general counsel. Members of the board of directors { are C. D. Boyer, W. R. Boyer, Willlam A. Coates, Thomas J. Crack, John G. Dudley, Herzog, Charles T. Jesse, i Ashton’ C. Jones, Clyde C. Lamond, i Arthur C. McMillen, J. Thomas Man- ning, F. J. Massey, Dr. J. E. Mluhlll Arthur J. Porter, Thomas E, Bfibl‘ellv Conrad C. Smith, Frank T. Stone, Ri ! ard N. Sutton, Dr. W. C. Welburn and i 8. Groome Eareckson. 8E TREASURY BALANCE. ‘The United States Treasury balance announced today as of close of busi- ness January 13 was '$112,602,080.43. Customs receipts for the month to date were Slbflfl 317.16. Total érdi- ®ary expenditures, $15,079,806.32, f I steady on the |-135 21 72% 34% 154% 101 % 12% 10 88 27% 135 86% 140 52 109 99 96% 86 88% 164 344 105 6os 18 51% 28 78 28% 63 20 216 105 10 1 43 0 ‘5 % 3% 25% 4% 9% 38 69% 21% 128 109 226 141% 169% 1201 385 151 % City Stores (1). 4 Contl Shares (1). Corn Prod pf (7). Cni Yellow City lce & F (k. City Ice &F pf (6%) Cluett Peabody ( Coca-Cola (4). ... Coca-Cola 4 (3) Collins & Afkman. .., Colo Fuel & Iron. Colo & Bouth (3). Col Gas & Kl (3) % Col Gas & Elpf A(6) Col Gas & El pt B(5). Columb Graph (37¢). Columbian Carb (16) Com Credit (2). Comm Credit A (3). Coml Inv Tr (1.60). Comm Solvents (1). . Comwlith Power((4). Comwlith&Sou(60c). Congolenm-Nairn.. .. Congress Cgr (15%). . Con Cgr pr ptx w4 Consol RR Cub pf(6) Consol Text!! Container Corp B, Contl Baking Contl. Baking Contl Mnl e (B). Contl Bank (1.20) Contl Can (2%) Contl Dfa Fibre (3) Contl Insur (2.40). Continental Motors Contl Ofl'of Del Corn Prod (13%). Cuban Dom Sugar. Cudahy Packing (4. Curtls Publiah pE(1y. Curttss Wright Corp. Curt Wright Corp A.. Cutler-Ham (3%). Davison Chem. .. Dter- & Co pf (1) 98 46% % 13 38% 37% 38 38 stant demand for money at high in- terest rates, and local banks with extra ‘}r‘ ; 1.::: ]7:“ u:;: 185 funds obtained a highly rrlwytnc rate| "o 25 28 i the New York call mark 50 u Auto-St Sat R A (3). 1 uu am 38w 38% Mortgage Co. Votes Dlvllenl. 20 % Aviation Corp Del. .. 5% 5% l'/a 5% At the regular semi-annual meeting | g%, )5 Baldwin,Loco (1.75) . 33% 3214 of the Citizens' Mortgage Corporation, | 145% 105 Baltimore & Ohio @ 2 s ua um 1?332 * held last night at 475 H street north- 55 Bang-&Aroos (3%). 65 631 west. the following directors were re-| 115 103% Bang & Aroos pt (7). 50- m% lum 110% 112 elected for the ensuing year: Joseph| 33% 16 BarkerBros(2)..... 50s 16% 16%. 161 16% Schiavone, Dr. Salvatore Floria, Frank | 49y 20 Barnsdall. A (2).... 15 23% 23 23 241 T. Fuller, John Vaccaro, John Rubino,| 131 = 69 Beatrice Cream (4).. 1 Gustavo Grifoni and Louis Carl. Beech-Nut Pkg (3).. 1 A semi-annual dividend of 3'. per | 847 Belg NRyptpf5.45. 1 rent was declared, payable on January 104». Bendix Aviation (2). 21 20 on stock of record on January 15.( 60% st & Co (2).. 1 3 The newly-clected dtrectogs will | 1405 784 Bethlehem Steei (8). 53 97! meet for the election of officers next| 128 116% BethlehemiStpf (7). 18 126 Monday. 61% 2: ::&omfi:&;h Bros.. 2 241 tlook Good. 136% 1 n s (). 52 B n;:: 0x . 11% 3 Booth Fisheries..... « ey o Commerce Lamont 78| 1001 53 Borden Co (ki) 10 e ot ei 64% oS . 86% 26 Borg Warner (4) 3 36 38y R0 35% some lines of business dus in part to| 145" g5 M.‘,n.mu. 100 'e:uur -ng seasonal the | “g3i. - 8y Briges u 16% 15% llu uu out-look 15 'generally good.” 43% 17% xngnutnm:n @), 1 23% 23% 23% 29y Secretary Lamont announced that & 14 Brockway M T. 2 18 15 15 164 - survey of 30 or 40 items in the latest 40 Bklyn-Manhat € 66N & &b oon business survey shows conditions as 76% BKlyn-ManTrpf(6) 3 85 85 85 ssig satisfactory, although he has no pre- 99 Bklyn Union Gas (5) 4 143 138 140'; 140 cise figures at hand righ now. Gen- 16% Bruns-Balk-Col. 50 14% 134 141 14% erally, however, he considers that con- 412 Bruns Tér & Ry © 23- 31 1% 200 ditions compare favorably with the 14 BucyrusErie (1).... 2 23% 23% 23% 231 situation at this time last vear. | 5 Bucyrusevpf(2i3). 4 24% a4%, a4, s Mr. Lamont says it s a ittle early to | 2 12 112 112 ate the effect on the airplane in- | 0% 10% 10% 10% dustry of recent reductions. in air pas- Budd Wheel (1). o 10 lflh‘ senger rates, but reductions in air mail Bullard.Co ¢1.60). 2 30% 30 30 31 rates have brought about such an in- 21% Bulova Watch (3)... 1 26% 261 26% 26% 8 Burns Bros A (3). 27 96% 465 1 19% 18% 184 18% 30 92% 90% 92% 91% 4 68 67 1 8 86 67% 86 67% 86 3 80% 30% 30% 31 21% 67% 196% 28% 1 20 28 % 674 10 197% ms-. 1 28 3 19% D’c 18 200’. 201 40% 15 40% 25 43% !5% 1 101% 1 107 1078 Gm\ 48% S 4 l” m 7 8% l 106% 106% 1064 106% 20 68 ]97'- 19‘1 206 107 02 71% 40“ 15 40 24% 43% 85% 23 2 usu llG'A ns-a 116 101% 101% 1017 % 41 40 1 138% 138% llMfi 187 5 48% 48% 4By 17% 17% 17 ll% 71 1 93% 98% 93% 93% B0 3015 28% 20% 29y 20 17’% 175 l 27% 26% 37 36% ‘l B8% 38%, 32 30% 29% 1124 124 119 1 1414 1 12 1 451% 20s 70 1 17 2 19% 17 1915 1 100% 100 6 55 1% % 3 4 5% 89% 37 53 28% 6200 6% 221 28% 91 1417 Glu uz 28 27y % 14% 5% 207% 20l ll"- 119% 6 169% 16815 1140 140 ” 2% 361 38% 30 124 14% 191 100 55 1% 4% 43% 5% 8914 37% 537% 17% 200 105% 102% 104% 108 —Prev. 1920~ Stock ana High. Low. Dividend Rate, 55 40 Detroit & Ma 10s 60 60 Det& Mackinac pf... 20s 7% 49 Denv&RGWopt...., 6 164 117 Diamond Match (8). 508 i1% 6 Dome Mines (1). 1 54% 12 Dominion Strs (1.20) 1 126% 69 Drug Corpn (4). 6 47 1% Duluth SS & Atl 2 nz 25 Dunhill Inter (34)... 8 80 Dupond de Nem (4).. 51 usn 107'% Dupontd Ndeb (6).. 5 391 19 Estn Roll Mill(ht2). 3 264% 150 KEastman Kodak (18) 1 76% 1% EatonAxle&S(3).. 5 39% 4 Eitingon-Seh (29%)., 5 174 50 Elec Auto Lite (6)... 15 18% 3% Electric Boat. . 2 86% 29'% ElPwr& Lt (1). 109% 98 ElPwr& Lt pf (7) 140' 118 EP&LDL 60% pd 4.20. 60s 104% 65 Elec Storage Bat (5) 3 79% 31 Eng PubServ ($1).. 55 109 48% Eng PubSve pt lsl/.) i 931 41% Erfe RR.......... 2 66% 55% Erle R R istpf ld) 3 63% - 52 ErieRR2dpf (4)... 2 27% 22% Exchange Buf (1%). 10 3% 15 [Evans Auto L($2%). 1 18% 3% Fairbanks Co.. 1 35 11 Fairbanks Co pf. 108 33 25% Federated Dept Strs. 4 564 28 Fed Water SerA2.40 6 123 47% Fid PhoFire 1(2.60). 5 37 24% Firestone T&R(1.60) 3 89% 83% Firestone TRRDI(6) 6 90 44'% First NatStrs (2%). 15 20% 2% Fisk Rubber, 3 72% 8 Fisk Rubber istpf.. 2 6€9% 12% Foundation Co.. 1 95 83 Foster Wheeler (2).. 2 106% 19% Fox Film A (§4).... 484 110~ 94% Frank Simon pf (7).. 208 547, 23% Freeport, Texas (15) 22 33% 5 Gabriel Snub A = 25 3 Gardner Mot 2 123% T Gen Am Tnk Cnrlfl) 11 94% 4210 Gen Asphalt (4). 2 140 121 n Baking pt (8)... 208 69% 24 Gen Bronze (2) 1 61 23 GenCable.. s, 107% 102 Gen Cable pf (7 2 74 42 GenCigar (3) . Y 122 111 Gen Cigar pf (7 408 403 168% Gen Electric (16).... 18 2 63% 55% Gen Electric (new).. 53 11% 11 Gen Elec spec (60c).. 5 81% 36 Gen'l Food Corpn (3) 7 112 59% Gen Gas&EIA (te2). 2 116% 99 GenG&EIpfA (7).100s 89% 50 General Mills (3) 100~ 87% Gen Mills pf (6). 91% 33% Gen Motors (13.30 287 126% 112 Gen Motorspf (7)... 9 98 20 Gen Public Serv (b8) 26 126% 70 Gen Ry Signal (5)... 13 153% 395, 3215 2231 13 66% 16 F58% 17% 102% 103% =21 142 145 242% 126 16% 1087 5815 325 187% 225% 39% 504 3% 57% 140% 4 204% 203% ZNK wn | Bl' I; Glidden Co (h2) Glidden pr pt 1 Gobel (Adolf). 81% Gold Dust (214). 38% Goodrich B F (4) 60 Goodyear Tire (5). 14 Gotham Silk H (23%) 2 68 Gotham SHpf (7).. 20s 4 Gould Coupler. 8 7 Graham-Pal, 1 48% Granby Copper (8. 4 9% Grand Unfon.... 4 30 Grand Union pf (3) 1 32 GraniteCity Stl (4).. 7 19 GchzuoP(-zu). 3 85% Grt North pf (5 . 38 28 Grt West Sug (. 14 14% Grigsby Grunow (2). 71 18 Gulf Mo & North. 5 75% Gult Mo & N pf (§) 2 42 Gulf Sta Steel (4) 1 12 Hahn Dept Stores... 11 1% Hahn Dept S pf(6%) 8 91 Hanna (M A) 1st (7) 110s 13 Hartman Corp B1.20 15 5% Hayes Body... 45 Hersi Choe (5) 60% Hershey Ch p(('s). 12% Hoe (R) & Co. 13 Houdalille Her B (3). 40 Household Prod (4).. 26 HoustonOil..... 45 Houshld F pf 13.12% $4% Howe Sound (t4%).. 34% Hud&Man Ry (3.50). 38 Hudson Motor (5). 18 Hupp Motor (£2). 116 Iilinois Central (7) 17% Independ Oil & G ( 313 Ind Motor Cycle. Indn Motorcycle p 13% Indian Refining. . 11% Indian Refining ct. .. 6815 Indus Ray (h5%stk). 120 Ingersoll Rand (4).. 71 Inland Steelp(3%4). 22 12 15 Interboro Rap Tran., 4 Intl Agricultural. Interlake Iron (1). 48 Intl Cement (4) 4% Int Combustion. 18% Inter Comb Eng pf. ¢ 65 Int) Harvester (23). 137 Intl Harvpt (7). 23 IntHydroElA 47 Intl Mateh pf (4) 18% Int Mer Marine ct! Int Nickel of Can (1) Intl Pap & P A(2.40). Intl Pap & Pwr B Intl Pap & Pwr C. Intl Pap & Pwr pf(7) Intl Rys Cent Am Intl Rys Cnt A ct Int Salt (6). Intl Shoe (3)... Intl Silver pf (7). Intertype Corp (2). 12% Investors Equity(3). 39 Island Creek Coal(4) ,(; Johns-Manville (3).. 1 1% Jordan Motor Car... 60 Kan City Sou (5) Kayser Jullus (4 Kelvinator Corn. Kendall Co bf (6) 9% ISennecott Kinney (G R) pf (8) M4 Kolster Radio ..... 27 Kraft PhCh (1%)... 28 Kresge(SS)Co(1.60). 53% Kress (SH) (1). 2214 Kreuger&Toll (1. u) 157 38% KrogerGr&B (nl1).. 13 375 ° Laclede Gas (10) 80% Lambert Co (8). 5 Lee Rubber & Tir 28 Lehn & Fink (3). 12 5 80% Liggett & My (15). :«;‘ Ligrett & My B (15). 0 32 Lima Locomotive. .. Liquid Carbonie (0). Loew's, Inc (3) Loft, Inc. Loose-Wilen (2.60) 14% Lorillard (P) Co.. ... 67 Lorillard (P) pf . 7' T.oulsiana Ol Loy G & Bl A %) Ludlum Steel (2) 30% McAndrews&F 12,85, 70 McCrory B (2). 30 McGraw-Hill (2) 54 “McK'port TP (14%). 21% McKesson & Rob (2), 40 McKes & Rb pf(3%). 18% McLellan Sto: 551 Mack Trucks (8) 110 Macy(RH)&Co(nt3) 6 Maliinson & Co. . 20 Manati Sugar pf..... 19% Man Elec Supply. 24 Man Elev mod (d6).. 1% Market'StRy... 20 Marlin-Rockwl t4% . 19 Marmon Motor (4) Martin-Parry. .. 29 Mathieson Alkilf (2) 45'% M kfept Strs (n2). 15% M Co (12)..... 9 Altnxel Company (2) 9% Mexican Seaboard. .. 20 Miami Copper (4). 44 Michigan Steel (214). 22% Mid-Coutinent P (2). 136 53% Mfller Rubber 9 27% Mo Kan & Texas 93% Mo 46 Mi 105 5 47 l‘h MotHer Bodé' (40¢) Motor Wheel (3) 10 Mullins Mfg... 60 67% 140% 2 224 9% 3 39 115% 116% 22 178 30 815 N 204% Saies— Add 00. High. Low. 127% 120 2% 9% 388 6! 26% 4% D. ‘C., WEDNESDAY, JANUARY STOC PINANCI AL K 4 P —Prev. 1920~ Stock and 102% 55 Mullins Mfg pf (7).. 20s 64 i SeraRity My i s 61% 38 Munsingwear (3).... 3 48 Spiexel-May-St (3).. 100% 14% MurrayCor(b2%stk) 13 19% i DN (I 672 30 Myer(FE)&Bro(2). 2 3% e () 118% ‘40 Nash Motors (6).... 4 5d% Stand & of Gt (20’ 417 14% Nat Acme (13). 1 19% Stand O N J (12). .. 48% 10 Natl Afr Trans. 25 14% i Stand Ol N Y (1.60) 7 9% Natl Bella Hess (31). 2 10 Stand Plate Glass pf, 40s 118 56 NatlBelHespf(7).. 1 66 " Stanley Co of Amer.. 50s 236% 140 Nat Biscuit Co (1).. 7 185 Starratt (L §) Co(2). 8 73 ~ 65'% Nat Biscuit (new)... 14 T4% Sterling Sec A. . 3 at Cash Reg,A(t4). -8 76 Sterling See pf(1.20) 1 Sterling Secev pf(3) 7 Stewart Warn (J23%) 4 Stone & Webster (2). 14 Studebaker (15)..... 32 Submarine Boat. 1 Sun Oil (11). 1 5 Supertor OIl. 23 N S Superior Steei . -1 > ! o . i 0 Natl Surety e SenitEonicA) 20 A Nat'Tea Co (2). 2 38U o 6 Nevada Copper (3).. 17 29% TennCon-& Ch (1) b N Y Alrbrake (3.60). 1 45% e o g . XY Central 3)... 3172 s S LI T D NyonasLpte 1100w D U Al Y & Harlem (5)... 80s 196 Rt Lo e « NY NH & Hart (6)... 12 110% § Pua R eeayes L NYNHEN o on T Thompson J R (3.60) 4 38 NT RN . Tide Water Asso 60c. 8 125 N Y State Rallways 1% B i e R 1 4 N p mken Roller { 6% North Am(b10 % stk T Tobacco Products... 14 2% Y 3 Transcontinental Ofi s.?. 10% Northern Pac (5). 3 86% gt % e e ) 3 wn Trico Prod (2%).... 32 Northwestn Tel (3). 208 45 Una Eléio%‘l;l-hvz' ;3’ xé; 10 1 Union Carbide (2.60) Ol e Y 16 Union Ofl of Cal ($2) 7 Gl T e e 34% Unlon Pacific (10)... 1 2. % Omnibus Corp. Pacific Coast. Pacific Coast 1 Pacific Oil stubs. ... Pacific T & T pf (6). Union Pacific pf (4). Union Tank Car new. Utd Alrcraft& Trans. 146 % Utd Afrcraft&T pf 3. 12 Utd Biseuit (1.60). Utd Business Pub. 4 Utd Carbon (2). Utd Cigar Stores T 1 Fackard Motor (1).. ¥ Utd Corp o (33, 2 Pan-Am Pete B. . - 2 Utd Dyewood pf Paramount-F-L (3).. 83 5;, United Elec Coal 5 Parmeloed TRL 2 oam United Fruit (4). 104% ?ii»’.".";x'c{:‘n';‘:‘ 8 3u Utd Gas & T (1,203 358 34% Pathe Exchange A... 7 6% 3:.13;’;5,1:“.‘;‘ [O8 9 ;‘m Peerless Motor Cai 3 T4 Unit Ploce Dye W (2) 5 Penick & Ford (1) 45 28% it o el A U S Distributing...... 191 Fen (3C) pt AcS) 1 %% U S & Forelgn Secur. 24% Penn Dixie Cement.. 1 Ti M i Pennsylvania RR(4). 104 7% D8 R @ L e o - TIWCEE U S Ind Alcohol (17) 139 Pet Milk (1%4)...... . 1 19 b i : Phelps Dodge (3).... 2 41% ipe & Fdry (2). e Phila& Read C&1.. 2 12 U Insa Gy Q). 2 Phila Co 6% pf (3).. 2 511 S Dot Philip Morris (1). 2 Phillips Petrm (n2). 4 erce-Arrow A erce Ofl.. ... Pierce Petroleum . Pillsbury Flour (2). Pireli Co A (2.88) Pittsburgh Coal Pitts & W Va (6)... Poor & Co (B) (2) - 3 DNE SO0 DR 00 T POt s e e P Rican Am To (B).. Prairie O&G (12%) Prairie Pipe L (5 Pressed Steel Car. Pressed Stl C pf (7 Proc & Gamble (2). Prophylactic Br(2). Public 8. N J (13.40). Pub Sve NJ pf (6) Pub Sve NJ pf (1) 4 Pub Sve E&G pf(6). Pullman Corp (4). Punta Alexre Sugar. Pure Ofl (1%). Pure Oil pt (8). Purity Bakeries (4). 1 2 > Radio Corp. ... . 462 Radiopf A (3%).... 2 Radio pf B (5). 2 Radio-Kelth-Orph A 219 Raybestos Man 2.60. Reading (4). Reading 18t p! Remington 1st pf Reo Motor Car (80) . Repub Ir & Steel (4). Rep Ir & Stlpf (7)... Revere C&B (A) (4). Reynolds Tob A (3). Reynolds Tob B (3). Rhine W El P (2.16). Richfield Oil (zL.,. Rio Grande O1l (2). Rossia Inc (2.20). o ] CAPAYSY JOTOTROI0 - Ve - 10 10 4 Royal Dutch (23.20). Safeway Stores(e5). | Corporation News NEW YORK, January 15.—The fol- lowing is today’s summary of important corporation news preparcd by Standard Statisties Co., Inc, New York, for the Associated Press: News Trend. Reports on trade activities released during the day were generally favorable. Loadings of revenue freight for the week ended January 4 totaled 776,359 cars, an increase of 137,814 cars over the pre- vious week, but a decrease of 22012 cars from the same week of 1929. Com- pared with the 1929 week coal was lll!n the only commodity to show a while comparison with a week ago sl nm a general increase in all commodities. Steel ingot production last week av- eraged 66 per cent of capacity against 59 per cent in the previous week and 39 per e:nt during the holiday season. In same week of 1929 rate was 83 per cent. U. S. Steel rate. was tz‘:l! per cen: of ::l; acity compared with 65 per cent a wi l:lo t{nd l.'ap;er c:nt In same 1929 week. The Companies. American Bemberg Corporation 1929 estimates prflucflln’r; 2,500,000 pounds, 19 cent above Wflun Stores sales 4 weeks to De- cember 31, 1929, up 7.8 per cent; year 1929 sales up 4,4 per cent. American Telephone & Telegraph stockholders numbered over 469,000 on January 15, an increase of 14,000 in last three months. Anaconda Copper Mining stops opes ations ai Leonard m‘ne‘ creased stocks refined cop) Celanese Corporation of Americl 1929 cstimated rayon production, 6,000,000 pounds, 20 per cent over 1928. Consolidated Hotels December, 1929, gross revenues, $229,371; year 1929, $2,- 424,192, Added 25 Dmpenlu to chain auring 1,929 total now over 100. Continental Can had 14,354 common #tockholders. January 10 vs. 13,700 on December 31, 1928, and 6,259 on De- cember 31, 1928. De Forest Radio files suit to restrain Grigsby-Grunow Co. uslnx Coyer pat- ent in production of tubes. General Motors 1929 Oldsmobile-Vi- king domestic shipments up 28 per cent over 1928. Industrial Rayon 1929 estimated rayon production, !000000 pounds, 41.2 per cent above 1928 Kolster Radio stockholder applies for recelver for B 1 Safeway pf (6)..... 2108 o ) St Joseph Lead (13). 16 e ‘“’,, : St L-San Fran pf(6). 6 # Wilcox Ol & Gas.... 3 St L Southwestern.. 15 oo Rich. B () 1 Willys-Over (1.20).. 34 Willys-Over pf (7).. 2 Wilson & Co. 2 ilson & Co A.. 5 SeoNatlInvpt (6). 2 6 100% 59 Woormorth (40,1, 20 ggnofTI(:opp.r . ; :2 137% 43 Worthington Pump.. 5 Shattuck(FG) (1143, 86 42 88 61% Yale& Towne (15) 1 RO (2. 12 51% 73 Yellow Truck&C... 26 Simmons Co (£3).... 42 52% 6% Zenith Radlo........ 27 Simms Pet (1.60) . RIGHTS EXPIRE Sinclair Con Oil (2) . 3 % AmRMills. .June 15 2 % s 10% - % Col Carbon..Maril 6 3 T 6% 5 N Y Cent...Jan3l 2 5% So Por Rico Sug (2. 2 1 R olds Spr.Jan24 15 I L) Sonthern Cal d ().} ineWEP..Jan23 3 25 2. Bt DR Sales of Stocks on New York Exchange. Southern Pacifle (©. s 10:30 AM....... 257500 12:00 Noon. 1,134,300 ey e 11666700 2:10P.M....... 1949700 SoRlAINE(AG) (3).. 4 34% Dividend rates u men in the above table are the ‘annual cash palding: . atest llull’kfly M‘ arly declarations. Spang-Chalfant..... 2 22% i ety peesins. Sparks Withngtn(1). 4 16 no: 3 . Yn'%':""’":r' rate: B s : Cplis 0% stock ¥ Flus 8% 15 stock. ' Blus 3% "4 Spencer Kelg (1. 2 22% o o G S 3% b stock.” mm Blu g Spicer Mfg. 2 W 265 1% RN L T oe N M REL K e West Penn E1 pf (7). 50s West Penn Pw pf(6) 60s West Penn Pw pf (7) 40s tern Maryland tern Pacific. Western Pacific p Western Union (8) Westngh Aid Brk(2). Westinghse E&M (5) Westhse E&M pf (5) 100s Weston El Ins (1) . 5 Univ Leaf Tob (3 2 123% 100 Univ Leaf Tob pf( ) 108 22% 2% UnivPipe & Rad.. 2 353 224% Utah Copper (16) 108 58% 24% Util Pwr&Lt A (e2). 5 18% 3 Vadsco SalesCorp... 2 116% 37% Vanadium (t4)... 84 51% 33 Vick Chemical (2% 5o g 24% 3% Virginia-Car Chem.. 24 25% 13 Va Iron Coal & Coke. 50s 149% 38 Vulcan Detinning... 40s 110 81 Vulecan Detin pf (7).. 20s 148 40 Vulcan Detin A. 10s 81% 40 Wabash..... 25 104% 82 Wabash pf, A (5) 8 3615 20 Waldorf Systm (13%) 2 49% 22 Walworth Co (2).... 17 84% 20 Ward Baking A. 708 21% 1% Ward Baking B. 3 8714 50 Ward Baking pf (7). 1 6415 30 Warner Bros Pic (4). 500 59% 26% WarBrosPpf(2.20) 3 421¢ 40 4215 3915 42% 15 Warner-Quinlan (2). 7 20% 19% 19% 204 207% 115 Warren Bros (19)... 2 138 138 138 139% 63% 39 Warren Bros1st (3).100s 46 46 46 50 344 15% Warren Fy&Pipe(2). 4 241 24% 2415 24 4 Webster-Eisenlohr.. 1 74 % T4 7% Wess Ol & Snow (2). 2 22% 22% 22% 23 Wess O & Sn pf (4).. 51 50% 50% 51% ‘West Penn E1 A (7). 150- 105 105 105 101 West Penn El pf (6). 20s 00 EPOTP N 21 3 What Fixes Bond Prices BY GEORGE T. HUGHES. " Possibilities of Profit. Another example of the favor shown by investors to low coupon rate bonds selling at a discount over higher coupon rate bonds selling at & premium is to be found in the Missouri-Kansas-Texas Railway list. This company has out- standing three series of prior lien bonds, all secured by the same mortgage and exactly the same as far as investment rating goes. One of these is a series “A" 5, anotnr series “B” and the third series “D" 413, The first two mature January 1, 1962, and the last named matures January 1, 1978. The maturity | dates are so distant that for all practi- cal purposes we may regard them as affectzd by the same market influences. In some phases of the investment cycle short-term bonds are preferred and in others it is the long-term ones that are wanted, but that factor does not enter into this situation. All these three bonds are listed and actively dealt in on the New York Stock Exchange, but the highest yleld at the market price is to be had on the 5 per cent issue and the lowest yield on the 4 per cent bond, with the 412 per cent one coming in between, The 5 per cent sells at par or just above it, the other two sell at discounts. Appreciation. Besides the prejudice of individual bond buyers against paying a premfum the market price i5 affected by this condition, namely, that there is more opportunity for appreciation in the quotation of the lower coupon bond be- fore it reaches the redemption price. In this instance, the call price of the 4145 and of the 55 is the same, 105, but the market ol thc 4%,s is 10 points nw-y rom the pflce. whereas that of the 5s is un 5 points away. In the evmt of declinli money rates and an advancing bond market there is mnn possibility of profit in holding the 41; per cent bond than in the 5 per cent. ‘Westinghouse Electrie & Manufactur- ing sells fuse business to McGraw Elec- | trie Co, ' Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., January 15— Poultry, alive—Turkeys, pound, 30a34; old toms, 22a25; Spring chickens, 25a 28; Leghorns, 21a22; old hens, 20a27; Leghcrns, 22a33; poor and thin, 17a18; old roosters, 17al8; capons, 32a36; ducks, 16a24; geese, 15a22; guinea fowls, each, 40a50; pigeons, pair, 25. Eggs—Receipts, 1,403 cases; native and nearby, firsts, 45a45'2; pullets, 40; hennery whites, firsts, dozen, 46; culls and dirty eggs, 25230, Butter—Good to fancy creamery, pound, 33a38; ladles, 30a37; store packed, 20; rolls, 27a29; press, 36a37. Potatoes—White, barrel, 1.5024.00; 100 pound sacks, 1.75a2.75; sweet pota- toes, barrel, 2.00a3.00; yams, barrel, 1.25 a2.25; beets, crate, 3.00a3.50; beans, hamper, 2.50a3.50; cabbage, hamper, 55a 65; carrots, 100, 2.00a4.00; cauliflower, crate, 1.50a2.50; celery, crate, 1.50a2.75; eggplant, crate, 2.50a4.50; lettuce, crate, 3.50a5.25; kale, barrel, 1.25a1.50; onions, 100 pounds, 1.75a2.00; parsnips, bas- ket, 50a65; peppers, crate, 3.5085.50; lp!nlch bushel, 60a90; squash, crate, 0'12 8 tomatoes, - crate, 1 1.4 52‘5;]15) turn} amper, mno apples, bushel '15-2?’ pe les, box.p 3.00a4.75; grapefruit, box, 2.50a5.00; oranges, box, 2.10a4.75; tangerines, box, 1.25a2.50; strawberries, quart, 30a50. Hay and Grain Prices. Wheat—No. 2 red Winter, 1.26 3 spot. o ; No. 2 red Winter, garllcky. spot, 1.25; January, 1.35; No. 3 garlicky, no Quotuflons. Corn—No. 2 domestic, yellow, new, 1.05; cob corn, new, 4.6024.70. 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. Straw—Little demand for straw. Re- celpt.l l!nerllly ;mp!e ‘Wheat straw, EXCHANGE SIUGKS IRREGULAR INLIGHT TRADING Bear Drive on Mail-Ordej Stock Offset by Rally in Amusements. BY STANLEY W. P. ENOSIL, Associated Press Financial Editor. NEW YORK, January 15.—Renewa of selling attacks against the mer. chandising issues, particularly Mopt: gomery-Ward, which was hammere( down more than 5 points to a new Tov record for the present stock at 385 unsettled today's stock market afte an opening period of moderate strength Early declines in most of the activi issues ranged from fractions to 3 points although a few specialties for whict there 1s a thin market dropped 4 t 13 points, but an irregular recovery set in during the early afternoon. ‘Weakness of Montgomery-Ward, whick sold as high as 1567; in the “bull” mar. ket last year, was attributed in some quarters to the liquidation of a stal weakened speculative account, and it others to “bear” attacks based on th( disappointing nature of some of the re. cent earnings statements. Rumors thal one of Wall Street's largest “bear” oper. ators had received a 300,000-shar¢ liquidating order in that issue wer denied. Sears Roebuck dropped 3 points in sympathy and J. C. Penney 2. Midland Steel Products preferre¢ broke 13 points, Auburn Auto and Colo- rado & Southern yielded 6 points each Columbian Carbon Americar Woolen preferred and J. Case 4 anc Brunswick-Balke-Collender dropped 11; to a new low record at 13'5. Atchison St. Louis Southwestern, chubllc Stee and Brooklyn Union Gas yielded : points, or more, Amusement shares were again in goo¢ demand. Warner Bros. Pictures was ymarked up more n 3 points, Loew: 2 and Radio, Fox Film, Radio-Keith. Orpheum and Paramount-Famous Lasky advanced a point or more. A good demand also was noted foi 2 few railroad shares, Atlantic Coas Line, Canadian Pacific and Delawarc & Hudson rising 2 to 3% points. Call money renewed at “/i cen® but dropped to 4 ln the early afternoon NEW SECURITIES. NEW YORK, January 15 (#)—Nc: securiti»s offered today include: Assoclated Gas & Electric Co. $30.- 000,000 5 per cent gold debentures, du: 1950; priced at 90 and interest, yield- ing 5.85 per cent, and convertible a holder’s option any time after Marc 15, 1931, and on or before March 15 1933, into class “A” stock at the rate of 18 shares for each $1,000 debenture Offered by a syndicate headed by Har- ris, Forbes & Co., and including Lee Higginson & Co., Halsey, Stuart & Co. Kidder, Peabody & Continental Tllinois Co., BI'O & Co., Ed. ward B. Smith & Cc ! "H. Rollins & Sons, Field, Glore & Co. and Johy Nickerson & Co. City of Akron, Ohio, $1,507,000 4'; per cent and 4% per cent improvemen: nds, due October 1931-1960. Th 1931-43 maturities are proved to yiel 4.40 per cent and the 1944-60 maturi ties to yield 4.35 per cent. Offered b Halsey, Stuart & Co., E. H. Rollins & Sons and George B. Gibbons & Co. Th. Chesapeake & Ohio Railway Co. $35,088,000 refunding and improvemen| mortgage 412 per cent gold bonds, series B. dated anu-ry 1, 1930, and due Janu- ary 1, 1995, priced at 94 and accrued lnurest to yield 4.80 per cent t0 ma- turity. Offered by J. P. Kuhn, Loeb & Co, the First National Bank, Guaranty Co. of New York an¢ the National City Co. North American Edison Co., $25,000,- 000 5 per cent debenture, series C, t¢ be dated November 15, 1929, and to ma- ture November 15, 1969, priced at 95! and interest, yielding more than 5.2f per cent. Offered by Dillon, Read & Co.. the National City Co. Lee, Hig ginson & Co., Guaranty Co. of New York, Harris, Forbes & Co., the Bank. + ers Co. of New York and Stone & Web- ster and Blodget, Inc. Western Maryland Railway. BALTIMORE, January 15 (Special). —The new year opened auspiciously for the Western Maryland Rulw-y. figures for the first week of January indicated. Estimated earnings were $311,714, an increase of 320.552, or 7 per cent, com- {);;;d with the corresponding week in Coal traffic made the largest contri- bution to the gain, the increase from that source being $12,535. Earnings from coal tonnage constituted more thll: half of the total receipts for the week. et BANK CLEARINGS. NEW YORK, January 15 (Special).— New York bank clearing today, $1,241,- 000.000; a year ago, $1,831,000,000. New ork bank balances mdly. 3153 - 000,000; a year ago, $178,000, New York Federal Reserve cred.lt bal- ances today, $148,000,000; a year ago $151,000,000. We Specialize In PROPERTY MANAGEMENT E. S. Poston & Co. Realtors el: Julius 1. Peyser M. Strasburger OMcers: E._Stuart Poston Prre hacee National 0760 1616 K St. N.W, First Mortgages We huve a desirable list of 612% First Mortgages which we should like to submit for your approval. These safe investments are sponsored and guaranteed by this responsible corporation. Secured on - improved real estate in Washington end its suburbs, and backed by our Resources of over $3,400,000. If you desire, you wmay pur- chase these safe first mortgages on convenient monthly payments. Denominations as low as $250. Send for Booklet, REALESTATE MORTGAGE & GUARANTY CORPORATION “The Success Plan.” . No. nuooo. oat straw, & w‘ wn, 9 Blocd passes thmugh the heart at the rate of 7 miles an hour, ] g S Capital Resources over $3,400,000 24 JACKSON PLACE E=e=======>s<=1 A