Evening Star Newspaper, January 17, 1930, Page 14

FINANCIAL. STOCKS ARE LOWER - INDRAGGY MARKET Market Sells Off Easily as Bears Launch Attacks on Certain Issues. FINANCIAL. THE EVENING STAR, WASHINGTON, D. C, FRIDAY, JANUARY 17, 1930. WASHINGTUNBANKS] TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE Comy —Prev. 1920 Stock and es— Prev. | —Prev. 1920~ Stockand Sales— Prev. | —Prev. 1920~ Sales— EI_EE]’ UFFIBERS e Ry AT A BPAL s | ish ow: Dividend Rate. Low. Close. Close. | High. ‘Low Dividend Rate. _ Add 00. High. Low. 3 Buah iow. ' DiridendRate = Sales High._Low. ) | e o DIV It RS0 Mish. ‘fow. Cues Oles| 11% 6 DomeéMinestn. 2T W% T Th| 1004 160G MumayCorbiatio 6 18k 18 S Ereetl): 1is 1% g 5 7 | 1264 69 Drug Corpn (4). 8% 79 79 | 674 Myer(FE)& Bro (2). 3 243% 17 e e Tt T T S i 45 ‘oumbiTarecRe : 3m4 314 38% | 11g%, ; 67 58% Stand G&Epf (4).. 64% 34 20 AdamsExpr(1.60).. 17 24% 24 24 25 | 281 a;) guwng:;'l\“": l: 112% I:gh :}é’n 417% Nat Aeme (1%). 2 :?-4. it 53;'3«':"3'?'(:’.??5‘:’/.’,‘ Soe i i i t 14 13% | 119% 107% Dupon leb (6). . 115 1 Natl Afr T) K < . . 223% 77 Afr Reductn (t4%).. 55 127% 1241 124% 128 | 2645 Eastman Kodak (18) 13 178 180 180% Nat Biscuit Co (7). At Institutions Report on 487 18% Alr Way BIAD(2%4). 5 25 24% 24% | 76% Eaton Axle &S (3).. % 28% 28% 29 Nat Biscuit (new). .. fii:i‘.’fi.’.cs“eé’fi“""' 130; 11% 1 Ajax Rubber. Ay 24 Eitingon pt (63%)..., 2 a4 Nat Cash Reg.A(t4). Sterling See pf(1.20) Elec Auto Lite ( Nat Dairy (32). 8 8 Nash Motors (6).... Staffs for 1930. 104 4% Alaska Juneau. A T e e BY EDWARD C. STONE. | In the bank organization meetings| held late yesterday the same official staffs in several local banks were re- tamned in office. The directors of the Riggs National Bank elected these offi- cers for the coming year: Charles C. Glover, chairman of the board; Charles C. Glover, jr, vice chairman of the board; Robert V. Fleming, presiding; Willlam J. Flather, vice president; Avon M. Nevius, vice president; George O. Vass, vice presi- dent and cashier; H. G. Hoskinson, vice president; Earle M. Amick, F. G. Bur- rough, Nelson B. O'Neal, I.J. Roberts, B. Gwynn Dent, George F. Rainey and Hulbert T. Bisselle, assistant cashiers; Raymond C. Marx, auditor; R. Earle Haycock, assistant auditor; Frank J. Hogan, general counsel and trust officer, and George M. McKee and Kenneth F. Brooks, assistant trust officers. Other Bank Officers Elected. All Columbia National Bank officers were re-elected, as follows: Frank J. Stryker, president; L. Whiting Estes, vice president; Arthur N. Mitchell, cashier; Robert H. Lacey, assistant cashier; Albert E. Yeatman, assistant cashier, and Walter B. Guy, attorney. All National Capital Bank officers were re-elected, as follows: H. H. Mc- Kee, president; S. H. Walker, vice presi- dent; Dr. W. P. C. Hazen, vice presi- dent; H. C. Stewart, cashier, and J. 8. Ridgely, assistant cashier. The McLachlen Banking Corporation officers were re-elected and are Lanier P. McLachlen, president; Firman R. Horner, vice president; John A. Massie, vice president and treasurer; Archibald McLachlen, secretary and assistant treasurer; Guy D. Cowl, assistant treas- urer, and E. L. Goldney. auditor. Federal - American National Bank officers elected yesterday include: John Poole, president: William John Eynon, vice president; W. J. Waller, vice presi- dent; Charles B. Lyddane, vice presi- dent; Charles D. Boyer, cashier; Arthur J. Linn, controller; Joseph D. Yerkes, assistant cashier; H. H. Shackelford, assistant cashier; William C. Johnson, assistant to president; Erskine Gordon, trust officer; Aubrey O. Dooley, assist- ant trust officer, and Leon Tobriner, | general counsel. Liberty Re-elects Officers. At the organization meeting today the directors of the Liberty National Bank re-elected these officers: George O. Walson, president; Edward J. McQuade, vice president and assist- ant _trust officer; M. F. Calnan, cashier; J. B. Skinner, assistant cashier, and T. J. Littlepage, general counsel and trust officer. Federal Storage Officers Named. At the regular annual meeting of stockholders of the Federal Storage Co. the following directors were re-electec E. K. Morris, Robert B. Hall, James M. Johnston, Harold N. Marsh, Charles P. Stone, H. Randolph Barbee, ‘2. P diately after the meeting of stockhold- the following officers were re- 5 K. Morris, president; Har- old N. Marsh, vice president and coun- sel; James M. Johnston, vice president and treasurer, and H. Randolph Bar- bee, secretary. President ~ Morris has Teappointed Henry B. Hall traffic manager and S. Webster Adams superintendent. Local Bankers Meet Monday. The regular January meeting of the | District Bankers' Association will take place next Monday at 4:15 pm. at headquarters. It is expected it the chairmen of all the important com- mittees and sections will make reports on ess made so far this year and outline any plans for the future. Most of these statements will be short. as the full reports are presented at the annual convention in June. It is quite likely the report on trade and commercial activities will be of special interest just at this time. Busi- ness conditions in Washington in the recent past and the probabilities for the next few months are engaging the at- tention of local bankers to an unusual degree. This report alone is expected to bring a representative from every bank in the city to the meeting. President W. J. Waller anticipates a highly interesting and helpful session. Financial District Notes. The District Bankers' Association protective committee, Edward J. Mc- Quade, chairman, meets late this after- noon at headquarters to dispose of routine matters. A. Elzey Waters, partner in Town- send, Scott & Co. Baltimore, visited the local financial district yesterday. W. W. Spaid is attending a meeting of the out-of-town section of New York Stock Exchange firms. He was one of the orgnizers of the section and is| now vice president of it. All directors of the Columbia Sand & Gravel Co., Inc, were re-elected yesterday and are the following: Clyde B. Asher, G. A. Bonne, R. V. Fleming, C. C. Glover, jr.; C. T. Kingsbury, L. L. Reeves, G. O. Walson, R. J. White- ford and L. S. Ulman. Chesapeake & Ohio Net. Net income of Chesapeake & Ohio Railway Co. for year ended December 31, 1929, is estimated at $32,399,000 after taxes and charges, but before sinking fund appropriations, equivalent after estimating dividend requirements on 6'; per cent preferred stock, to about $21.80 a share on 1,482,694 shares of common stock. is compares with net income before sinking fund appro- priations of $28916,925, or $2443 a share on 1,180,940 common shares in 1928. H A. 1. B. Banquet Committee Meets. The committee planning the banquet of Washington Chapter to be held on February 22 met last night at the chap- ter rooms and launched plans for the big event. It was decided that reser- vations will be closed this year on Feb- ruary 18 in order to make the final ar- rangements for the seating easier. Last vear's attendance was 820, which taxed the capacity of the Willard ball rcom almost beyond the limit. A gltherlns of about the same size is anticipates this year. This year the entertainment is to be given by professionals. Mergenthaler Leads D. C. Exchange. A turnover of 85 shares of Mergen- thaler Linotype stock made that issue the leader in a quiet session today of the Washington Stock Exchange. All transfers were made at 106)5. Ten shares of Commercial National Bank stock sold at 250, same as yester- day’s quotation. Ten shares of Federal- American National came out at 292. Peoples Drug Stores preferred figured in small sales at 104, and 150 shares of National Mortgage & Investment pre- ferred moved at 47. Potomac Electric 6 per cent preferred registered 111. Capital Traction 5s sold at 92%, this being the only bond sale, CHICAGO, January 17 (#).—Butter, firm; receipts, 7,925 tubs; creamery ex- tras, 341;; standards, 34; extra firsts, 33 to 34; firsts, 31 to 32; seconds, 28%2 to 30. Eggs, firm; receipts, 6,348 cases; extra firsts, 41}5; graded firsts, 38 to 38%;: ordinary its, 35'; to 36%;; re- | 25 118% 5% 136 120 81% 98Y% 17% 176% 149 80 84% 55% 139 64% 417% 130 138 9% 85 94% 11 60 327 310% 2321 235 grelx! tor firsts, 35, refrigerator extras, Poultry, alive, easier; receipts, 1 car; fowls, 26; No. 2, 16; Springs, 21; broflers, | 28 30 to 32; roosters, 17. turkeys, 25; flucks, 16 to 17; geese, 15. 128 64% 24 Dlvuluh R, A (2.40).. 561 $54% 197 185 Canadian Pac (10)... 130 Case (J 1) (6).. 118 Case (J 1) Co pf (7). 160 Ches & Ohio (10).... 101 Chi RI& Pac (7) 144% 137 8214 20% Coty Inc (82). 5 Albany I W Paper. 17 Alleghany Corp. 90 Alleg Corp pf (5%).. 35% Allis-Chalmers (3) 17% Amerada Corp (2)... 4 Am Agricul Chem. 1 1 Am Argicul Ch pf.. 2 Am Bank Note pf (3) 1 2 5 Am Brake Shoe(2.40; 987 Allied Ch & Dye(n6). 20 268% 265 28 534 Bl 47 47 AmBrS&F pf (7).. 70s 119% 119% 4 10 9% Am Brown Bov Elec. i Am Brown B E pf(7) 30s 63 62 AmCan (4).. 180 125 121% 3 Am Car & Fdy (6). Am Chicle (12%).... 1 Am Com Alco(n1.60) 20 Am Encaustic (2)... 1 Am European Sec. Am & For Power.... 402 Am HawallanSS (3) 2 Am Hide & Leapf... 1 Am Home Prod(4.20) 4 AmlceCo (t4)...... 2 Am International (2) 21 Am Locomotive (3). 111% Am Loco pf (7)... 31 ) 58 N er (« Am Pow & Lt pt (6). AmP&LpLA (3%) AmP&LpfAst(5). 2 Am Ra&Std San13%. 48 Am Rad & S S pt (7). 103 Am Republics oA Am Rolling Mill (2). 17 Am Seating (2)..... 62 Am Sm & Ref (4) 123'%4 Am Sm & Ref pf (7). 35% Am Steel Fdy (3) 40 Am Stores (2)... Am Sugar Rfg (5). Am Sugar Rfg pf(7). Am Sumatra (3)... Am Tobacco pt (6) .. Am Water Wks (n1). 99 Am Woolen......... 2 Am Woolen pf...... 20 Am Writ Paperpf (3 1 Am Zinc LA& Sm... 118 Anaconda Copr (7) 46 Anaconda W&C (3) 25 Anchor Cap (2.40). 30 \Andes Copper (3) 18% Archer-Dan-M (2).., 75 Armour Del pf (7).. 5% Armour I11 (A). 2% Armour 111 (B). 57 Armour 111 pf (7). 61 Arnold Constable. . Asso Appl Ind (4) Asso DG 1st pf(6).. 34% AssoOil (2).. Auburn Auto (J4) Auto-St Sat R A (3). 4% Aviation Corp Del... & 15 Baldwin,Loco (1.75). 26 109% Baldwin Loco pt (7). 20s 105 Baltimore& Ohio (1) 40 55 Bang & Aroos (3%).. 3 20 Barnsdall A (2).... 20 95 Bayuk Cgr 1st pf(7). 20s 121 BeaconOil..... 1 45 Beech-Nut Pkg (3 4% Belding-Heminway 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). 23 Bloomingdale Bros. . 17 Bohn Al & Brass (3). 70 Bon AmiA (4). 17% Briggs&Stratton (2), 40 Bklyn-Manhat (4). 99 Bklyn Union Gas (5 1% British Empire Steel. 16% Bruns-Balk-Col.. 26% Bucyruscv pf (234). 7% Budd Wheel (1)..... 8% Budd (E G) Mfg (1). 25 Bullard Co (1.60) 21% Bulova Watch (3). 88 Burns Bros A (8) 29 Burr Add Mch (80c). 31% Bush Term (g2). 91% Bush Term deb (7) 2 Butte Copper & Zine. 17% Butterick Co. 50 Byers (AM). 6314 Calif Packing (4) 73% Calumet & Ariz (1 25 Calu & Hecla (ad% 45 CanadaDryGA (6 - s BE MO ANBONX I~ - P LN CET T T Y=L SR Y - 50% Caterpillar Trae (3). 6% Cavanagh-Dobb. 31 Celotex (3 21 Cent Aguirre As1%. 274 Cent Alloy Steel (2). 3 Century Rib Mill 521 Cerro de Pasco (6). 10% Certain-teed Prod. 18 Cbecker Cab (4.20) ® 424 Chesapeake Corp (3) 4 Chi&Alton. ... 36% Chi & East I1i pf. 7 Chi Great Western 17% Chi Great Westn pf. 16 Chi Mill St P&Pac. 28% Chi Mill 8t P&Pac 75 Chicago & N W (5) 25 Chickasha COil (3).. 44% Childs Co (2.40)..... 26 Chrysler Corp (3). 37% City Ice & F (k3.60)., % City Stores (1)...... 10 41% Clev & Pitts spec (2) 10s 341 Cluett Peabody (4).. 1 101 Coca-Cola (4)....... & 44% Coca-Cola A (3)..... 12 10 Collins & Aikman, 6 27% Colo Fuel & Iron 4 665% Colo & Sou 1st pf (4) 160s 52 ColGas&El(2).... 103 99% ColGas& EIpf A(6) 3 16% Columb Graph (87¢c). 967 = P-Trer % 105 Columblan Carb (16) 16 18 Com Credit (2)...... 16 28 Comm Credit A (3) 3 70 Com Crd 1st pf (63%) 10s 28% Coml Inv Tr (§1.60). 13 87 Com Inv Tr pf 20% Comm Solvents (1).. 233 10 Comwlth&Sou(60¢). Congoleum-Nairn. . . Congress Cgr (15%). Consol Cigar (7).. 16% Consol Film pf (2).. 1 801 Consol Gas N Y (4).. 320 921% Consol Gas NY pf(5) 3% Container Corp B. 25% Contl Baking A. 4% Contl Baking B. 79% Contl Baking pf (8). 33 Contl Bank (1.20). 40% Contl Can (2%). 20% Contl Dia Fibre (3 46% Contl Insur (2.40) 5% Continental Motor: 18 Contl Ofl of Del. 28% Contl Shares (1) 70 Corn Prod (13%) Corn Prod pf (7) 1% Cuba Cane Sugar pf. 5 Cuba Co L5 6% Cuban-Amer Sugar.. 13 56 Cuban-Am Sugpf... 10s 2 1 Cuban Dom Suga: 36 Cudahy Packing (4). 6 6% Curtlss Wright Corp. 37 13% Curt Wright Corp A. 26 21% Davison Chem 13 109 Deere & Co pf ( 80s 102 119% 141% Delaware & Hud 1 49 Denv&RGWopf.... 2 801 80% 391 391 324 28% 30 170% 170% 66 66 4 31% 31% 4 McLellan Stores. Electric Boat El Pwr & Lt (1). El Pwr & Lt pf (1) Elec Storage Bat (5). Eng Pub Serv ($1)... Eng Pub Sve pf (5).. £r Erie R R 1st pf Erie & Pitts (3%) Evans Auto L(32%). Fairbanks Co pf. ... 220s Fash Park Asso (2% 1 Fed Lt & Tr pf (6)... 108 Federated Dept Stra. 3 Fed Motor Tr (80¢).. 4 KFed Water Ser A 2.40 2 Fid Pho Fire 1(2.60). Filene's Soi 3 Filene's pt (6% ) ol Nat Strs (2%) Fisk Rubbel Fisk Rubbe pL.. 108 Follansbee Bros (3). 1 Foster Wheeler (2).. 1 Fox Film A (§4).... 270 Freeport, Texas (15) 15 Fuller pr pf (18.68).. 30s Fuller Co 2d pf (6).. 408 Gabriel Snub A. Gamewell Co (5).... Gardner Motor. Gen Am Tnk C: 4 Gen Asphalt (4 Gen Bron: Gen Cabl 4 Gen Cable A (). Gen Cable pf (7).... Gen Cigar (4) . Gen Cigar pt (7) 4 Gen Electric (16). Gen Electric (new).. 131 Gen Elec spec (60c). 7 Gen'] Food Corpn (3) 40 Ger: Gas&ELA (fe2). 3 GenG & ELpf A (7).. 108 General Mills (3).... 5 Gen Mills pf (6)..... 1 Gen Motors (13.30).. 463 Gen Motors pf (7)... 10 Gen Outd Adv A (4). 4 Gen Outd Ad vte (2). 1 Gen Public Serv (b6) 11 Gen Ry Signal (5)... ¥ Gen Refactories (4). Gillette Saf Raz(n5). Gimbel Brothers Glidden Co (h2)..... Gobel (Adolf). Gold Dust (234). Goodrich B F (4) Goodyear Tire (5) Goodyear 1st pf (7). Gotham Silk H (23) Gould Couple Graham-Paige ct. Granby Copper (8).. Grand Silver Strs (1) Grand Stores (c1)... Grand Union. . . Granite City Stl (4). Grant (W T) (1).... Grt North pf (5).... Grt North pfet (5).. GtNctfsOP (a3%). Grt West Sug (2.30). Grigsby Grunow (2) 815 Guantanamo Sugar.. 1 Gulf St Stl 1st pf(7). 208 Hacken pf A (1%)... 208 i Hackensck W pf 1% . 208 Hahn Dept Stores. . . Hahn Dept S pf(6%) Hall (WF) Ptg (m1) Hartman A (2) Hartman Corp B 1.20 Havana Elec Ry Hayes Body... Helme (Geo H) (17). Hershey Choe (5)... Hershey Ch pf(15).. Hoe (R) & Co. Hollander & So; Houdaille Her B Household Prod (4) Houston Ofl. Howe Sound (14%4) . Hud&Man Ry (3.50). Hudson Motor (5)... Hupp Motor (f2).... Tilinois Central (7). . Independ Oil & G (2) Ind Motor Cycle. ... Indian Refining. . Indus Ray (h5%stk) . Inspiration (4) Insurance Shars 45c. Interboro Rap Tran. Interlake Iron (1) Intl Agricultural. Int Combustion. Intercontinental Int] Harvester (234). Intl Harv pf (7)..... Int Hydro El1 A (e2). Intl Match pf (4).... Int Mer Marine ctfs. Int Nickel of Can (1) Intl Nick Can pf (7). Intl Pap & P A(2.40). Intl Pap & Pwr C. ... Intl Printing Ink (3) Int Ry=,Cen A pf(5). Int Salt (6). - Int Silver (6). . Intertype Corp (2).. Int Tel & Teleg (2).. Inter Dept St (2).... Investors Equity(2). Jewel Tea (4) Johns-Manville 4 Karstadt (R) (1.02). Kelly-Spring Tire... 9 Kelly Spring 8% pf. 200s Kelsey Hayes (2)... Kelvinator Corp Kennecott (5). Kimberly-Cl: Kolster Radlo. . .. Kraft Ph Ch (1%) Kresge (SS)Co(1.60). Kress (SH) (1)..... Kreuger&Toll (1.34). Kroger Gr&Bak(n1). Laclede Gas pf (5)..100s Lehigh Valley (14% Lehn & Fink (3).. Libbey Owens (1)... Liggett & My (16)... Liggett & My B (15). Lima Locomotive. .. Liquid Carbonie (4). Loew's, Inc (3)...... Loew’s, Inc pt (6%) . Loft, Inc. Loose-Wiles (2.60). Lorillard (P) Co. Louisiana Ofl....... LouG&FElA (1%). Ludlum Steel (2). McCrory B (2). McIntype Porc M McK'port TP (143%). McKesson & Rob (2) 2 Browionnwnemm—o ». 2 Mack Trucks (6). Macy (RH)&Co(nt3) Madison Sq G (1%). Magma Copper (5).. Mallinson pf (7).... Mandel Brother: Man Elec Supply. Man Elev mod (d5) Man Shirt (2).. Marmon Motor (4).. Martin-Parry....... Mathieson Alkili (2). May Dept Strs (n2). Maytag Co (12) Mengel Co pf (7). Mexican Seaboard Miami Copper (4) Michigan Steel (3%). Mid-Coutinent P (2). 2 Bevmmrananuman- vIudmande a8 ® 28ea8e % Middle States Ofl et.. Midl Stl Prd pf t14.. Miller Rubber. . Minn Moline Pwr. MStP&SSM. Mo Kan & Texas. ... Mo Kan & Tex pf(1). Missour{ Pacific. .... Monsanto Ch (g1%). Montgomry Wrd (3). G&E.. Motor Produets (2).. Mulli Mullis unsingwear (3).. Natl Dept Stores. Nat Distillers (2). .. Natl Enameling (2). Natl Lead pf A (7).. tl Lead pf B (6).. 1 Pwr & Lt (1), Natl Radiator. . Natl Radiator pf. Natl Surety (5) Nat Tea Co (2). Nevada Copper (3). Newport Co A (3) Newton Steel (3) NOTex&M (7 N Y Airbrake (3. N Y Central (8) NYChi&StL NY NH & Hart (6). NYNH&HDpt (7) @ N Y Rallways pf. Y State Railways. N Y Steam pf (6).... North Am(b10 % stk) North Am pf (3).... North Am Ed pf (6). Northern Pac (5) North Pac ct (5). % Nor Ger Lloyd(3.41). 4 Northwestn Tel (3). 30; Oil Well Supply..... O11 Well Sup pf (7) Oliver Farm Equip. Olivr Fr Eq cv pt(3 4 Olivr Fr Eq pf A(6) Omnibus Corp S Oppenheimer 4 Orpheum Cir pf (8) Otis Elevator (6) Otis Steel (2%).. Outlet Co (4)... Pacific Gas & E (2).. Pacific Lighting (3). Pacific Oil stubs. ... Pacific Tel & T (7).. 1508 Packard Motor (1).. 131 Pan-Am PeteB..... Paramount-F-L (3). Park Utah. .. s Parmelee Trans 1%. Pathe Exchange. Pathe Ixchange A. Patino Mines (3.89) Penney (1 C) (27%) Pen (J C) pf A (6). Penn Dixie Cement.. 5 Pennsylvania RR(4) 129 People's Gas Chi (8). Phelps Dodge (3) Phila & Read C& 1. Phillips-JTones (3)... Phillips Petrm (n2). 1 Plerce Oil. ... . Pierce Oil pf... Pierce Petroleum Pillsbury Flour (2). $ Pittsburgh Coal pf.. Poor & Co (B) (2). Bophe~on~ RNBARE -SSR B % Pressed St1 C pf (7).. Proe & Gamble (2) Prod & Refiners pf. Prophylactic Br(2) Public 8. N J (13.40 Pub Sve NJ pf (6). Pub Sve NJ pf (7). Pullman Corp (4) Punta Alegre Suga Pure O1l (1%) Pure Oil vt (8 Purity Bakeri Radio Corp. Radio pf B (5). 3 Radio-Kelth-Orph A. 112 RRSecICstkC(4). 50 Raybestos Man 2.60. 13 5 Reading (4) Real Silk (5). Reis (R) & Co Rem Rand (50¢). Reming-Rnd 1st (7). Reo Motor Car (.80). Repub Ir & Steel (4). Reynolds Tob B (3). 166 Rhine W E1 P (2.16). 2 Richfleld Oil (2). 12 Rio Grande Ofl (2).. 23 Rossia Inc (2.20).... 4 Royal Dutch (a3.20). 387 Safeway Stort Safeway pf (6) Saf Strs pf St Joseph Lead (13 St L-San Fran (8). © (e1.20). Seaurs Roebuck (32%) Second Natl Inv. Servel Inc. . Shattuck(FG)(t1%). ShellTranspt (a2.41). Shell Union (1.40)... Sh Uem v pf (5%). Shubert Theatres. ... Stmmons Co (£3) Simms Pet (1.60) Sinclair Con Oil (2).. Sinclair O1l pf (8). Skelly OIL (2)....... Snider Packing pf. Solval Am Inpf5%.. So Por Rico Sug (2). Southern Cal Ed (2). Southern Pacific (6). Southern Ry pff(5) Spalding(AG) (2). Spang-Chalfant Sparks Withngtn(1). Spiegel-May-St (3).. Sterling Sec cv pf(3) Stewart Warn (j2%) Stone & Webster (2). Studebaker (15 Submarine Boa Superior Of1 Superior Steel. . Sweets of Amer (1).., Symington (A)... Tenn Cop & Ch (1) Texas Corp (3) . 5 Tex Gulf Sul (4).... Tex PC&O (b10%). Texas Pac Land Tr. . Thatcher Mfg (1.60). Third Avenue. . Tide Water As: o Timken Det Ax 180c Timken Roller (3)... Tobacco Products. .. 4 Tobacco Products A. 4 Transcontinental Oil Trico Prod (2%). ... Truax Traer (1.60).. Truscon Stl (g1.20) .. Twin City Rp T (4).. Und-Ell-Fisher (5).. Union Bab & Paper. . Union Carbide (2.60) Union Ol of Cal ($2) Union Pacific (10) Union Pacific pf (4). Union Tank Car new Utd Alrcraft& Trans. Unit nunubenn k] agacce Virgini 6% b 10:30 A.M. 1:30 P.M. 4% in stock. §Pi vee la 0 re ble in or hPlus 2% in stock. 8%5% in stock. Utd Alrcraft&T pf3. Utd Biseuit (1.60) Utd Business Pub... Cigar Strs pf. Utd Corporation Utd Corp pt (3). United Fruit (4) Utd Gas & Imp(1.20) Utd Gas & Im pf (5). Unit Piece Dye W United Stores A. Udt Stores pf... U 8 Distributing. U S & Forelgn Secur. S Hoftman (2) Ind Alcohol Leather A. ... & Fdry (2). Plpe&F 2d pf 1.20 Realty (5) - Rubber. Rubber 1st pf. S Smelt Ref pf3%. U S Steel (7). U S Steel pf (7). U S Tobacco (4).... Univ Pict 18t p£(3).. Univ Pipe & Rad. ... Util Pwr&Lt A (e2). Vadsco Sales Corp Vanadium (14). Van Raalte 1st pf... Vick Chemical (2%). Car Chem. . Virginia-Car 6% pf.. Va El & Pwrpt (7).. Vulcan Detinning... 6 Wabash. “ee Wabash pf, A (5). Wabash pt, B (5). Waldort Systm (1 Walworth Co (2)... Ward Baking B. .... Warner Bros Pic (4). i wnr Bros P pf (2.20) Warren Bros 1st (3). varren Fy&Pipe(2). bster-Eisenlohr. . 01l & Snow (2). 0&Snpt (4).. West Penn E1A (7). West Penn El pf (7). West Penn Pw pf(6) Western Maryland. . 4. Western Md 2d pf.... Western Pacific pf. Western Union (8).. Westngh Ald Brk(2). Westinghse E&M (5) Westhse E&M pf (5). Weston El Ins (1) White Eagle Oil (2).. White Sewing Mach. White Sw Mch pf (4) Wilcox Oll & Gas. ... Wilcox Rich (A) 2%. Wilcox Rieh, B (2).. Willys-Over (1.20).. Wilson & Co. . Wilson & Co A Wilson & Co pf. Woolworth (2.40) Worthington Pump.. Worth Pump A (7).. Worth Pump B (6).. Wrigley Wm (4).... Yellow Truck & C. 4 Young Spring (3)... Young Sheet & T (5). 6% Zenith Radio RIGHTS EXPIRE 3 % Am R Mills..June 15 . 2 10% % Col Carbon..M: 6 N Y Cent 63 Sales of Stocks on New York Exchange. o o [OPSJOOTOINS [TVIOL. |~ T oo » 8 385,700 12:00 Noon 1,300,800 Dividend rates as given in the above tabl payments based on thy s or sUDit of trading less than latest quarterly r} 100 shares. tPartl Plus 9% In s stock. “dPayabl tock. gPl kPlus’ 3% in stock. stock. Washington Ticker BY CLINTON COFFIN, Associated Press Financlal Writer. Within the next two or three weeks the Federal Trade Commission, in the conduct of its congressionally -ordered inquiry into the public utilities situ- ation, expects to bring up some matters of morp than ordinary public moment and to put its procedure upon entirely new ground. So far the investigation has related exclusively to the publicity and advertising expenditures of utili- ties and associations of utility corpo- rations. Now, it is sald both by com- mission agents and representatives of utility organizations the commission will pick out one of the typical mergers of operating power and light units and g0 into its capitalization, management methods and ownership. A sizable corps of accountants and auditors in the commission employ has been for months working up the data, which will :fl:ken into open hearings in Wash- n. As a general thing it has been the policy of utility organizations to inter- pose no objection to the commission's search through their records. One ex- ception to that rule has been noted in the Electric Bond & Share Corporation, primarily a holding company, which protested in court against some of the commission’s demands for its files, but was only partly sustained by the court’s decision. ~The balance of the 4,000 or more corporate units of the country classed as utilities have let the com- mission representatives go as far as they liked, although a number of enterprises whose operations are wholly intrastate in character have refused to answer questionnaires as to their accounts. A tremendous amount of accounting and -u:ulv:cd-x material has been thus as- sembled. It is rather expected that the forth- coming inquiry will stress sharply the prices rm during the last two or three Sear operating. proporice, and that the operating proj an endeavor will mfie to examine criti- cally a rather considerable number of these purchase transactions. The rela- tions between holdings corporations, such as Electric Bond & Share, Stone & Webster, J. G. White & Co., and H. M. Byllsby & Co., and their operating subsidiaries, has also been under ex- ploration. Several of the holdings con- cerns regularly take management con- tracts over the operating units for fees running to 2} cent or more of gross revenues, and the commission will prob- ably seek to challenge the justification of several such arrangements. Finally, o the comparison between actual invest- ment in the linked enterprises, as far as that can be ascertained, with the out- standing total of securities created by their financial administration, will be recorded. ‘The chief opportunity for scandal, it is agreed on all sides, lays in the ex- emination of the prices paid for local properties since the great utility merger era got under way, which is of compara- tively recent date. Utilities spokesmen ‘are preparing to defend the perform- ance in merger matters of the industry as a whole, on the ground that merger meant interconnection of power re- sources and more dependable and cheaper power for the public, although anticipating that some of the details will not be entirely palatable to public opin- fon. Further, it is rather the opinion of the industry that the degree and scope of merger pi s hasn't been so im- portant in utilities as it has been in railroads and in industry generally. It is rather clear that managers and bank- ers of utility enterprises feel that the policy of paying seemingly high prices for local electric plants to bring them into interconnected webs of central gen- erating plants under consolidated oper- ations has been in the main justifiable. In refusing the Baltimore & "Ohio System the right to retain control which it has practically succeeded in attaining over the Western Maryland Railway, the Interstate Commerce Commission has manifestly strengthened some por- tions of its recently announced plan for general railroad consolidation. By that plan the Western Maryland was as- signed to the Wabash System, along with a number of lines such as the Norfolk & Western and Seaboard Air Line, which would bridge a new carrier system through from the West to the Far Southwest of the country. The Western Maryland is principally im- portagt in such an arrangement because it reaches the port of Baltimore, and the commission’s decision, issued yes- terday, holds that the Baltimore & Ohio cannot rightfully retain possession of the smaller line because the conjunction of the two means unlawful restraint of competition in raflroad service. If the Baltimore & Ohio accepts the finding without an appeal to the courts, one detail of the commission's project for expanding the Wabash into a fifth trunk line in Eastern territory is made racticable. However, as has frequently n pointed out about the consolida- tion situation, the initiative remains with raflroad management. The Gov- ernment is limited to negativin schemes or portions of schemes that fal to_meet officialvapproval. gation now being sought by the House interstate commerce committee into holding companies controlling railroad securities has gotten under way. That inquiry, which the commission urged Congress to undertake, is now planned to begin next month. CHICAGO LIVE STOCK MARKET CHICAGO, January 17 (#) (United States Department of Agriculture)— Hogs—Receipts, 22,000 head, including 5,000 direct; market 10 to 15 higher; top, 10.05; bulk, 140-200 pounds, 9.75a 10.00; 230-280 pounds, 9.50a9.80; pigs, 9.25a9.75; shipping demand broad. Butchers, medium to choice, 250-300 pounds, 9.25a9.75; 200-250 pounds, 9.50 a10.00; 160-200 pounds, 9.70a10.05; 130- 160 pounds, 9.40a10.00; packing sows, 8.1529.00; pigs, medium to choice, 90a 130 pounds, 9.0029.85. Cattle—Receipts, 2,500 head. Calves —Receipts, 1,000 head; market slow; steady at week's extreme decline on fed steers and yearlings; low les predominating; bulk selling at 13.00 down to 11.00; choice kinds absent; top, 14.00; she stock dull. Slaughter classes, steers, good and choice, 1,300 unds, 12.00a15.5( 1,100-1,300 pounds, 15.25a16.25; 950- 1,100 pounds, 12.50a16.25; common and medium, 850 pounds l:r 8.75a a12.50; fed yearlings, good and choice, 750-950 pounds, 12.50a16.50. Heifers, good and choice, 850 pounds down, 12.00a12.50; common and medium, 8.00a12.00. Cows, good and choice, 8.00a10.50; common and medium, 6.50a 8.00; low cutter and cutter, 6.2586.50. Bulls, good and choice (beef), 9.25a 9.85; cutter to medium, 7.00a9. Vealers (milk fed), good and choice, 13.50a16.75; medium, 11.00a13.50; cull and common, 7.25a11.00. Stocker and feeder steers, good and choice (all weights), 10.50a11.50; common and me- dium, 8.25a10.50. Sheep—Receipts, 20,000 head: market slow, fully 25 cents lower; some bids 50 cents off; early bulk fat lambs, 13.25a 13.50; best held above 13.75; fat ewes steady, 7.00 down; feeding lambs quot- able steady. Lambs, and cholice, 92-pounds down, 13.15a14.00; medium, 11.75 13.15; common, 10.50a11.75: ewes, medium to choice, 150 pounds down, 5.50a7.25; cull and common, 3.00a5.75; feeder lambs, good and choice, 11.65a 13.10. —_—— According to scientists, hair goes white because the white corpuscles in the blood eat up the its which It doesn’t see, probable that any consolidation action will be instituted by rallroad interests until the investi- color the hair. This often has a effect, as the system is relieved of the work of making the pigments, % 108% i 1 l BY STANLEY W. PRENOSIL, Assoclated Press Financial Editor. NEW YORK, January 17.—Reaction- ary tendencies were quite pronounced in today's stock market, although prices did not break out of the narrow trad- ing area within which they have been floundering since the turn of the year. Renewal of selling pressure against many of the leading industrial and public utility issues carried several of them down 1 to 6 points, but the rails showed little change. Tobacco issues gave the only demonstration of group strength. ‘The market was confronted with an- other large quota of rather unfavorable business and financial news. The An- aconda Copper Co. announced the clos- ing of two additional mines, making three this week, presumably to curtail production and maintain the current 18 cents a pound price level for copper. The Department of Justice asked dis- missal of suits seeking modification of the packers’ consent decree. The wholesale price index is reported to have declined in the week ended Janu- ary 14 to the lowest level in five years. Call money renewed at 4!, per cent, but again dropped to 4. More activity was reported in the time money and bankers’ acceptances markets, but. rates were unchanged, although the longer maturities in the time market were re- ported to be a little firmer. The in- crease of $13,000,000 in Federal Re- serve brokers’ loans was somewhat smaller than expected. Communications shares were among the leading selling targets in today's market. Western Union dropped 5 points and American Telephone, Inter- national Telephone and Radio Corpora- tion dropped 2 to 3% points, and then e irregular recovery. Offerings generally became more ex- tensive late in the day, with further liquidation of the radio group and a decline in U. 8. Steel to below 169, the price at which the stock was recently offered to employes. Grigsby-Grunow fell 4 points to 1415, approximating its low record. Western Union went down 7 points, J. I. Case 6, and Johns-Man- ville, Westinghouse Electric, American Foreign Power and Simmons between 3 and 4. The closing tone was weak. Total sales were about 2,900,000 shares. “/AUTO PRODUCTION WILL BE EXPANDED Special Dispatch to The Star. NEW YORK, January 17.—The auto- mobile industry is back from vacation. It has not yet really buckled down to work for another year, but it is moving and within a brief space is expected to be warmed up to normal efficiency. This fact has had a direct bearing on the business and economic situation of the country in the last week, for auto- mobile manufacturé is one of the key industries of the Nation. The makers of motor cars use large quantities of both raw and finished " | commodities and the producers of such lines are now benefiting materially from the renewal of activity in automotive centers. Some idea of the extent of this influence can be gained from the infor- mation just made public that 5,651,000 cars and trucks were built in 1929 in this country which had_ a wholesale value of $3,483,900,000. If production approaches in 1930 the output of 1929, the industry will go far toward making the entire country prosperous. In the last year the industry was responsible for the manufacture of $920,000,000 worth of parts and accessories, at wholesale value, while 4,300.000 workers employed directly or indirectly by_the business. The rubber and tire industry is de- veloping a brisker pace, as is natural in view of the iact that $600,000,000 worth of tires were required for re- placements alone in 1929 on the 26,700,- 000 motor vehicles registered in this country. Crude rubber used aggregated 913,920,000 pounds last year. ‘The steel mills have shown improve- ment during the last week and indica- tions to government officlals are that the upward trend can be counted on for some months to come. CITIZENS’ NATIONAL BANK | Special Dispatch to The Star. LAUREL, Md., January 17.—O. W. Phair was added to the directorate of the Citizens’ National Bank at the an- nual stockholders’ meeting. These directors were re-elected: G. W. Waters, jr.; Willam Stanley, B. M. Fisher, F. L. Thomas, F. J. Athey, T. W. Linthicum, Mrs. Mary E. Wilson George P. McCeney, M. B. Steward and John Stanley. Officers will be elected at a meeting of the directors next Wednesday. FOREIGN EXCHANGE. (Quetations furnished by W. B. Hibbs & Co} ) Nominal gold heck, London, pound. Paris, franc . Oslo, crown Stockholm, crown A A January Dividends. . . Invest Them in Safe 6% % Guaranty First Mortgages Make your cheeks dn invest Denominations as low as $250. Send for Booklet, “The Success Plan.” REALESTATE MORTGAGE & GUARANTY CoRPORATION Capital Resources over $3,500,000 24 JACKSON PLACE