Evening Star Newspaper, January 18, 1930, Page 22

[ PERASE | B PiN PERENN FOREIGN BOND LIST| (=== o BONDS o v Received by Private Wire Direct to The Star Office I Sales. High Low Close REVEALS STRENGTH Rest of Market Irregular, With Lower Trend in Speculative Group. BY F. H. RICHARDSON. i Epecial Dispatch to The Star. i NEW YORK, January 18.—With the | exception of foreign dollar credits, | which were strong, bond prices were | irregular today, and in the speculative | group there was a definitely lower trend There is still a certain amount of switching from outstanding issues to | new offerings going on, and traders esti- | mate it will be a few days vet before | this factor is removed from the market. | By that time another batch of sizable bond issues, chiefly public utilities, is | expected. | Municipal financing has fallen off to | some extent, many cities and- States having secured such sums as they need for the present. Up to date there is only $12,567,250 of new municipal issues in sight for next week, the largest of which is a $2,900.000 issue of the City of Yonkers. Cook County, Il offered | £7.000,000 of corporate tax fund notes | today, and again there was no bid for | them. i One of the big issues in prospect is for $50,000,000 or $60.000,000 to be an- nounced by the Republic Steel Corpor- ation. The new financing is a sequel to the recent merger of Republic Iron & Steel, Central Alloy Steel and a number of affiliated firms. Today's market was quiet. The new American Telephone 5s were off to a new low at 100% in early trading, but advanced later to a fraction above PFri- day’s closing level. The companion issue of 5 per cents | moved in sympathy. Baltimore & Ohio first 4s. Pennsylvania general 41:s, American Telephone 5155, Columbia Gas 5s and Utllities Power & Light 5'is were the only prime bonds to make fractional headway. Second-grade rails were dull and somewhat lower. Tractions and sugars were strong, the latter in response to additional encouragement contained in the refusal of & subsidy to the Ameri- can beet-sugar growers. Speculative is- sues had to withstand fairly heavy sell- ng. Most of the activity and strength in foreigns centered in South American is- sues. Italian descriptions were also higher. PARIS, January 18 (#).—Price gldln.es were irregular on the Bourse Three per_cent rentes. 88 francs 55 Five per cent loan, 106 francs. Exchange on London, 123 francs 92 centimes. The dollar was quoted at 25 francs 45'; centim Washington Stock E;change SALES. Capital Traction 55—$1,000 at 9314, Potomac Electric 5'; % pfd.—5 at 11015, Potomac Electric 6% pfd.—2 at 107, 3 at 107, 10 at 107!z, 10 at 108, 10 at 8. 108. Washington Rwy. & Electric pfd.—10 at 9415, 2 at 9417, 2 at 9414, Riggs National Bank—1 at 500. District National Securities pfd.—10 at 93, 5 at 92. Mergenthaler Linotype—5 at 1061, Peoples Drug Stores pfd.—2 at 104. The Carpel Corp—13 at 23%. Washington Medical Bldg. Corp.—10 at AFTER CALL. Chesapsake & Potomac Tel. of Va. 55— $100 at 98. Potomac Electric 6% pfd.—5 at 110%;. ‘Woodward & Lothrop pfd.—3 at 107. Potomac Electric 5'- "> pfd.—10 at 108, 10 2t 108. Bid and Asked Prices. BONDS. PUBLIC UTILITY. r. Tel. & Telga. 4125 '33 Tel. 128 65, series B & Elec. 45 MISCELLANEOUS. rber & Ross. Inc Wash. Gas Wash. R¥s #h. Mkt. Cold Stor Wash. Cons. Title 6¢ STOCKS. PUBLIC UTILITY. Lmer & Telga... Capital Traction 2t Washington Ges Light orfolk & Wash. Steamboat. tomac Elec. 67 pid otomac Elec. 8137, pid. ' Washi & Elec. com ; Elec. pid....... . & Annap. com . & Annep. pfd NATIONAL BANK. National Capita lumbia 5 Tel. Bateier s ederal-American EOMEY oo coin National ‘Metropolitan.’. TSRO cond % : National Bank of Washin, TRUST COMPANY. American Security & Trust Co. 415 Continental Trust Sr TSR Merchants' Bank s National Savings & Trust I TR Washington Loan & Trust SAVINGS BANK. Bank of Bethesda Commerce & S: East Washington ac .. Stree 5 States Washington Mechanics FIRE INSURANCE. American . Coreoran iremen’ Nationai Union s TITLE INSURANCE. Columbia Title. ... Real Estate Titie Title & Inv. of Md.' com. MISCELLANEOUS. Inc., com.. Dairy 'pfd. . d & Gravei pid . Paper Mfg. pfd ist. Natl. Securities Federal Biorage pfd. . Federal-American Co. merican pfd type Barber & id. LR AR v Rot. & Whr. Th e Carpel Cor Wash. Mech. Mtge. com Wash. Medical Blde. Cor} Woodward & Lathrop pfd. *Ex dividend. Unlisted Department. BONDS. Asked. Army-Navy Club 5s. 8 Club 4125 . Commercial Club 1; Metropolitan Club 4%:s... STOCKS. Anacostia Bank... : e ach E Chr. Heurich i Neiony anklin Nationr Miller Train Con! unsey Trust Co. rih Capital Savings Bank Northeast Savings Bank..... Park Savings Bank Ralelrh Hotel Co Waninston Titie Tne. Co Waskingion Base Bail Cib Woodridse-Langdon Sav. Bani.. | Paris-Ly-Med 6: | Humble O & R bs. Humble O &R 5% Sales. Lib3%s. .. Lib4th 4y US3%s 47.. 1 US3%s. Argentine 6s.Ju 59. Argentine May 61. Argentine 5% 6: Arzentine 6s A. ... Australia 41 56. . ! Australia 58 19 Australia b Bank of Chile Belgium 6s. . Belglum 61s. Belgium 75 195 Belgium 7s 195 Belgium 8s. . RBolivia Tsct 69.... Bolivia s . Bordeaux 6 Brazil 615 19 Brazil 614s 192 Brazil 8 Canada 5= 1931 Chile 6s 60. . Chile 65 61. . Chile 75 1943 Con Pow Japan 7. Copenhagen 414 5 Copenhagen 5s ct. . Cuba5%s. 5 Denmark 41 4 Denmark 5128 55 Denmark 6a . Dutch East I 6s62. Fiat 7s war 46. ... Finland 53x. . Finland s,f 6s 45... Finland 7s. .. Framerican 7% French 7s... French Tk%s German Bank 6s Ger Gen Elec Ts. Haiti 6s. .. : Hungary T%s. Irish Free Stat Japanese 6%s. Karstadt 6s 1943 . .. Kreuger&To'l 5s ct. Lyons 6s. .. . Marseille 6s....... Mexico 45 10 asnt. . Nord 618 Norway 55 1963 Norway 6s1943.... Norway 65 1944.... Norway 658 1952, , Orfent dev 5% 58. .. Paris Orleans 5%s. Peru 6s 1960. Peru 6s 1961. Poland 6s 40. Poland 7s (rets). Poland 8s. . Porto Alegre 2 Rhine Wst EP 7s 50 Rio de Janeiro 633 Rio Gr do Sul 6s 48, Rio Gr Do Sul 8s. .. Rome 63%s. .. Sao Paulo 851936 Saxon (PW) 7s. Seine 7s 42. Serbs Cr Slov 7 Soissons 6 Swiss5%s Toho El Pow 7s. ... Utd Kingm 518 37. Uruguay 8s. Warsaw 78 52...... Alleghany Cp 58 44. Alleghany 55 49. ... Am Agri Chem AmChem 5165 cv 49 Am Int Cor 5%s 49 Am Smit & R Am Sugar Ref AmT&T 5865 w Am T&T cv 4%s AmT& Tecltrbs AmT&Tstbs.... Am Tel & Tel 5%.. Am Water Wks bs. . Armour&Co 435 39 Armour Del 6%s. .. Atlantic Refin 5 Bell Tel Pa5sC.... Bethlehm Stl pm 58 Bethlehem Steel 6s. Com Invest 5148 49, Com Tnvest 65 '48 Con Coal Md 6s Consumers Pow 5s. Gen Cable 515 47. . Gen Mot Ac Cor 6 Goodrich 61:s. Goodyear 5s rets. .. 111 Bell Tel o8. . Inland Stl 4358 78 Int] Cement 53 48 | Intl Mateh 5s 4 I~t Mer Ma~ Inter Paper 6: Int Tel&Tel 4 Lackawanna Stl 5s. Laclede G 58 52.. Loew's. Inc 63. Lorillard 5%s. Montana Pow 43, Nat Dairy 5%s. Nat Radiator 6% N Y Edison 53 44 N Y Edison 6 INYG&EHPbs.. N Y Tel 6349...... North Am Edis bs. . No Am Fd 5%862. . Nor Ohio Tr&L & Nor States Pow 5s. Nor States Pow 6s. Pacific Gas & El 55 Paramount 6s 1947 | Phia Cobs 67 Phila & Read Por Ric Am T Postal Tel &C5 Pressed Stl Car bi Punta Alegre 7s. Rem Rnd 51 war.. Richfield Ofl 65 44. . Sinclair Oil 6s..... Sinclair Oil 7 5 Sinclair Crude 5%s Sin Pipe Line 5s... South Bell Tel 5s. . Stand OIl N J 46... Stand O1l N Y 43%s. Tex Corp cv 58 1944 United Drug 58 63. U 'S Rub 1strf 58 USRub7%s...... Utllities Pow 513 Westn Unlon 58 51 Westn Union 614s. Wilson & Co Ist 65 Win Repeat Ar 7348 Youngstn S & T Atchison gen 4 Atch deb 4145 43 B&OPLEWY 4 B & O SW 6850 B & O Toledo 4 Bklyn Manhat Canada Natl 5s. ... Can Nor 418 1935 Cent Pac 4s. .. Can Pacific ctfs 5s. Ches & O Corpn bs. Ches & O 4%893 A. Ch & O 4% wi 1995 Chi B&Q gen 45 53. CB&Q4%4s877B. ChI&E 111 gn 58 51 Chi Ind&L ref Chi MiISP&Pach: = P T T TS TINISEN R P TSP o PR oA~ P~ Pt - TV, 0 1o Sx m [ =P P O = L e P L P T T eI ey . 45 2 UNITED STATES. (Sales are in $1.000 High 13 998 17 101 99 7 8 103 24 10322 10322 99 100 FOREIGN. Sales. High 8 977 2 9T 1% 97 14 83 am 25 1 3 98% 1015 1062 109% 1084 110 1 100% 97 100% 103% 105 117 'Y » —pe = - @ meBprenandansarSemneeaR P RANNNN AR R AD MISCELLANEOUS. 6 100 99% 103 103 94 100% 1034 100% 138% 103% 101% 1124 10614 110% 100 1001 100% 100% 105% 101% 99 101% 971s 951 102% 10115 108% 81 30 1001 101 101 RAILROAD. 94 6 1301 Atlantic CL 4%s8 64 10 97% 927 4 108% 1035 4 101 101w 85 8! CMSP&Pac adj5s03 67 Chi N W 4%s2037. Chi&NW conv 4%s 12 Chi R1& P gn 4s. ChiRI1&Prf4s ChiRI&P4Ys Low. Close. 99 7 4 105% 1 4 104 104% 4 102% 102% % 106% 106% i 100% 100% s gy Bin 4y LVENING I'AR, WASHINGTON, D. C, SATURDAY., J 8 998 | 31 10031 997 Low Close 971 9T% 9T 91% 97h 83% 3l 934 10115 1015 1062 106% 109% 1094, 1084 108" 110 110% % TH% > 21, 100% 100% 90 90 1001 1001 99 99 8916 RYL 974 9T 100% 1007 9l 91 101 101 104 104 1031 103% 8674 RT 9T 9T 97 103% 103% 103% 108% 102% 102 T RO 1034 108 1003 100% 4T 1001 100% 93% 108 % T 10314 104 9915 994 103% 103 105 105 5 % 100 991 103 103 103 108 100 101% 101% 100% 100% 104% 104% 54 55 95% 95% 98% 83 93 60 601 1031 108% 9915 99% 106% 106% 928 9284 101%% 1011 | 981 98 | T9% 79 | 100% 100"y 101% 101% | 105% 105% | 91 91u 10115 101% | 103 103 9% 9% 1 9 95 W 97% 96% 967 884 8R4 1194 119% 100% 100% 103 102 2 10315 103 112% 11 106'% 106, 110% 110% ! 100 100 100% 1001 Chi St P&O €5 30. 00% 100% 100% 1 Del & Hudist rf 4s. 2 923 928 92 Erie conv 4s A. Erie Gen 4s Erie conv Ex T | Fla East C 58 74. Gr Trunk st db 6s. . .| Hua & Manajss. . Hud & Man ref 111 Cent 4% 8 66 111 Cent Chi 4 11-C-C-StL& N 5s.. Kan City Ft S 4s Kan City Term M1 EI Ry&Lt 41 MI EI Ry & I 5= Minn & StLen e . | M St P&SSM cn 4= MStP&SSM M8t P& SSM A% MK&T41sT8 Mo Pacific zen 4s. Mo Pac 5is A 65.. Mo Pac 5s F 77.. Mo Pre ix G 78 [P RGD S e 96 .. | 557,000, while the gold held Mont T'rm ref 5s 41 Nash Chat& StT, 4s. NYCrfimats.. N Y Cen rf fs. N ¥V C&St Ldebds NYC&SIL5%sA NYC&SILGeA. . NH&H ev b 63, N Y Ry 68 A 65.... V State v 4%s.. Nor Pac rf fie.. Penna een 4148, Penna 4% =63 Penn 5% 4 Penna 614 Penna Gold 7s. .. Pa Ohio & Det 414 Pere Mara 1 3 1054 | Reading gen 418 A 8 | Rio G West el ds. .. ST, TM&S R&G ds. SIL&SFplds A SIL&SF4%sT8.. 1 S&T.&SF gen 5831 Seab A T 4s.. Seab AL 4ssta.... Sou Pac 4155 69 ww Sou Ry zen 48 Son Ry fn. . SouRy Mo &0 4 Tex & Pac 55 B 1977 Tex & Pac 58 C 79.. Third Ave ad) 5s... Union Pac 4s 68 Union Pac 4% Virginia Ry 1st 55, Whash 41%s 78 rets 908 | West Marylan Washington Ticker BY CLINTON COFFIN. Associated Press Pinancial Writer. ommittee action in the House this we(e:k has cleared all obstacles out of the way of the projected congressional investigation into holding and invest- ment corporation methods of controlling important railroads. Though the final Vote has not been taken, it is apparent that congressional leaders, without much regard to party or viewpoint, intend to bring about the passage of a resolution presented by Chairman Parker of the House interstate commerce committee, which will authorize and finance inquiry into “ownership and control, direct or indirect of stock or capital interests in any common carrier by holding com- panies, investment trusts, individuals, corporations, partnerships, assoclations iand trusts.” With this broad language empowering Den & Rio G cn 4s.. 2 92 i Frie cv 55 6 9 9% 96 | its procedure, and funds provided by a special appropriation, the committee in- tends to institute a rather sweeping re- search into modern methods of dominat- ing railroads. Some of its members con- sider that the data should be gathered before any_ legislation facilitating rail- road consolidation is considered, while others have concluded that the func- tining of holding corporations in rail- road control threatens effective Federal Tegulation of carriers. “We shall certainly do our best to establish just where the ownership of the more important American railroads actually lies,” Chairman Parker re- marked. “I mean by that where it actually is located. regardless of the screens that are alleged to be s°t up about control of some cafriers by the creation of corporations which hold each other's securities. I expect that the Interstate Commerce Commission, which urged this inquiry first, will furnish us with preliminary data, but we intend to ask Congress for an adequate appropriation that will allow us to follow up any leads the commis- sion has. “There may be several weeks of this preliminary inquiry necessary before we call any witnesses for public ex- amination. I am informed, however, that most of the people prominently identified with railroad finance are en- tirely willing to appear. Of course, we are not engaging in a prosecution of any kind, nor have we any purpose (CANADIANFINANCES MAY BE INCREASE Short-Term Loan Forecast| to Offset Unfavorable Trade Balance. BY JOHN F. SINCLAIR. Special Dispatch to The Star. NEW YORK, January 18.—When I asked the Hon. Charles A. Dunning, Canadian minister of finance, why Canada temporarily left the gold stand- ard, he replied: “Canada’s position on the gold stand- ard remaiis the same today as in past years. No change has taken place dur- ing the last six months.” Apparently the confusion regarding Canada's position arcse in overlooking the Canadian statute of 1915, which authorized the issuance of $26,000,000 of currency without a gold reserve. 1f these notes are not taken into con- sideration, Canada has more gold re- serve than is required under the law. On November 30 last the Canadian finance department issued a statement showing that the total of Dominion notes outstanding amounted to $211.- in the treasury vaults at that time amounted to $62,827,000—over 30 per cent gold reserve. While it is technically true that Canada has a gold reserve sufficient to meet the statutory requirements, the 1915 statute makes a joke of the gold standard theory. 1t is expected that the Canadian gov- ernment will solve this situation short- ly by placing a short-term loan in New York to liquidate the temporary adverse balance caused at the present time in a large way by the great amount of wheat still in storage in Canada, waiting for a favorable world price. Canada is likely to meet this prob- | lem very soori because the adverse rate | of exchange, which has been as high | as 2 per cent, is a real burden on Ca- nadian imports. Think of increasing expenses $4,000,- 000 a month! That's about what Gov. Roosevelt of New York has suggested to the New York Legislature for the next fiscal year, beginning July 1. He asks for 'a total of $311,198,000, as against last year's total of $264,- 834,000. In a word, the State of New York spends more money than the States of Iowa, Kansas. Minnesota, Oregon, North Carolina, South Carolina, Ken- tucky, North Dakota, South Dakota, Montana, Georgia and Florida com- bined. Yes, and in addition, we can add the total expenses of the States of Massachusetts, New Jersey, Ohio and Indiana to the States mentioned before. Quite a State—this New York! States expenditures are growing. For 20 years New York has spent every year a greater amount than the year before. The one exception was when Gov. Mil- ler carved the 1921 budget down $10,- 000,000 below the totals for 1920, But nearly every other State reports the same condition. Yes, the price of government comes high. One hears at times the remark, “Why develop foreign trade? Let’s look after | the home trade and forget the foreign | countries.” But the record of the merchandise exports for the year just closed shows that the United States sent abroad $5,248.483.000 of exports, an_increase of '$120,127,000 over the year 1928. ‘This is the heaviest export for any year since 1920. Now the imports, which as every one | knows, are used to square the account of the exports sold abroad, total $4,400.- | 634,000, an increase of $309,190,000 over the records of 1928. This, too, is the heaviest figure since 1926. The balance of trade. therefore, In favor of the United States amounts to | $847,849.000, as against a little over $1,000,000,000 in 1928. Now how do these nations pay the surplus amount of imports over exports? Such debts have to be paid, just like any other debt. A natfon can pay such “adverse bal- ance” debts‘by sending gold, by borrow- ing money, by selling service charges, by sending its goods, or by a combina- tion of all these. It will be many years before the United States will get away from loan- ing money to Europe and the rest of the world. This much is shown by the record of our foreign trade during the past 10 years. 3 The three industries — automobile, building and railroads—consume about 50 per cent of the total annual produc- tion of steel. Steel ingot production is expected to | be about 9.000,000 tons less in 1930 than | in 1929. At least half of this decline is attributable to the decreased activity in automobiles. building and railroads. As farm income on the whole is down about 2 per cent over the preceding year, the outlook for sales in the field of grain implements is not particularly optimistic. May and June of last year were the big months in the steel business, where the ingot production was running prac- tically 100 per cent capacity. This year, from the present outlook, the peak operations ~during the Spring might move up to 90 per cent, but the earnings of the steel companies, as it looks now, will compare more closely to 1925 and 1927, rather than with 4 100% 100 of seeking to embarrass the proper operations of any group identified with railroad management.” The genesis of the inquiry is found in a recommendation made last Fall by the Interstate Commerce Commission to Congress citing the recent creation of the Pennroad and Alleghany Corpora- tions, each credited with large holdings of railroad stocks of diverse operating systems. The commission observed 971, 971, | that in some respects its power of regu- 951, 93 | lating raflroads might be destroyed by 10214 10213 | the policy of holding corporations whose 1011 101'; | actions were beyond Federal jurisdic- tion. 50% 95 9515 100% 1001 1010 101 Both United States and Canadian fisheries officials have been following with some concern the recent, appear- ance on Western Atlantic fishing rounds of European fishing craft. So ar nothing has been done in the mat- 8L 8L |ter, but it is entirely possible that cne 29 30 lof the minor international discustions 100% 100% | may eventuate on this fishing question. 101 101 [ For the last two years the European 100% 101 | fshing boats have engaged in opera- tions against the halibut and cod . | schools off the west coast of Green- 93% 93% land in increasing numbers and with 130 130 }improved methods of catching and 97 97%] freezing the prey. 9274 While international action to control 99 this far-foraging of the erstwhile North Sea fishermen may be a long way ahead, fisheries experts are inclined to view the performance as another indi- 7| cation that seafood resources are al- ways in danger of being exhausted by modern quantity methods of utilize- tion. It is only the failure of the fish supplies in European waters, coming after years of intensive exploitation, that sends the European boats 1o Amer- ican waters. ‘Their arrival occasions the more discomfort here in that the fishing industry of the United States has been having a marked revival in re- cent years, and is probably sericusly draining ‘the 'fish ‘supply” off of the Eastern coast by its own requirem~ The package shipment of prepaved fisi in 1929 from Eastern seaports to the interfor. ran around 75,000,000 cr 80,- 000,000 pounds, which meant about 150,000,000 pounds of live fish had to be ap1, caught to supply it. 99% BT 89 Jackdaws, magpies, squiprels, hedge- 96 hogs, cranes, peacocks and' swans wers 93% popular dishes in the Middle Ages. 88 88 101% 10214 108% 108% 9315 9318 92 101% 101% those made in 1926, 1928 and 1929. The stock market. naturally has dis- counted to a considerable extent such | conditions, but many stocks, based on the big board figures, are still plenty high enough. We were talking, a business man and I, about the . frequent occurrence of price cutting of commodities. When stocks are large and orders dwindling, the tendency is to cut prices in order to dispose of the goods. Then be ready for the next consignment soon to ar- rive, A turnover—even at a loss! “It's always been so. Many men fear the future and want to clean up, even at a loss. Some men make it a prac- tice in business. They never seem to get a fixed price. They do not under- stand enough about auditing to know what a fair price is for their products, and as a result, they find themselves eventually out of business,” com- mented my friend. “But what is a fair price?” I asked. “What is a fair price for one mer- chant may be low for another. That is a matter of good merchandising and manufacturing. But a good executive will always find what a fair price should be ‘and fix it accordingly.” I think it is Elbert Hubbard, who made this statement: “There is nothing made under the sun, but what some one will make it a little worse, and charge a little less.” That seems to be the philosophy of a lot of people in the world. (Copyright, 1930, by North American News- paper Audance.) Change in Stock Offer. NEW YORK, January 18 (#). proval of an application to lis tional shares of the Tidewater Asso- ciated Oil Co. on the New York Stock Exchange revealed that a change has been made In the offer to exchange its stock for that of the Assoclated OIll Co. A month ago the company offered ome_share of common and one-third share of preferred for each share of Assoclated, but the listing application showed the offer to be three shares of common for each share of Associated. No change was made in the offer to common stockholders of the Tidewater 10il Co. This offer was one and three- | quarters shares of Tidewater Asso- Cisted for cach share of Tidewater |sulted in heavier trading than during | the warm weather the several days pre- | TRADING IMPROVES AT D. C. MARKET Cooler Weather Brings Out Better Demand for Meats i and Vegetables. Cooler weather the past two days re- | ceding, trading in some lines having taken on a spurt yesterday. Heavier trading yesterday, according to reports, more particularly affected the meat market, many retailers doing their Leavy buying on Pridays in order that they may have more time Saturday mornings to make selections of other commodities. Haulers from Maryland and Vir- ginia, parked along the farmers’ line, south side of B street between Seventh and Twelfth streets, the line extending south on Twelfth street, were much in evidence this morning, some of them having taken their positions yesterday. Commodities these haulers offered the trade included large shipments of apples, chiefly from the Shenandoah Valley of Virginia; large quantities of eggs.” butter, poultry and _vegetables. Many of them both wholesaled and re- iailed their supplies to a steady line of patrons in evidence both early and late. | Cider Prices. Along B street between Seventh and Ninth streets most of the dealers con- - fined their commodities to vegetables, some of them offering small quantities of apples and some offering cider in, quantities ranging from a glass jar to & barrel. “When so much cider is offered,” ob- served a dealer, “it is suggestive of growers being unable to get rid of their large crops of apples by the barrel or basket.” Farmers offered the cider at 50 cents 2 gallon, the price including containers, and the beverage was in good demand. Trading along all lines this morning showed an improvement over business the past few days, dealers reported, and most dealers expected to clean up much of their receipts, especially perishable commodities which could not well be carried over the week end. Poultry receipts yesterday and this morning’ were heavy enough to enable dealers to meet all demands. They continued to have fairly large quanti- ties of turkeys from Maryland, Virginia and more distant places, the king of the barnyard fowls being in fairly good de- mand at prices dealers considered cheap. Spring chickens, much cheaper this season than in past years, also were in plentiful supply and in good demand. Fowls were not so plentiful, dealers re- ported, the demand for them being good. There also was a good demand for ducks, while the demand for geese was not great enough to consume receipts. “There was a good demand for c: pons this morning,” suggested a dealer, “and prices were not much higher than the price of chickens.” Keats were not in heavy receipt, deal- ers reported, but receipts were heavy enough to meet demands at 50 and 60 cents, prices much lower than earlier in the season. Receipts of rabbits for the day and week end trade were not very heavy. The season for the game is fast drawing to a close. It already has closed in many States, according to reports, and it is suspected that some of them reach- ing the local market so late are being bootlegged. Prices of most commodities this morning were substantially the same as prices quoted at the close of yester- day’s market. Today's Wholesale Market—Jobbers’ Prices Slightly Higher. Butter—One-pound prints, 37!,a38%%; tub, 36';a37 store packed, 25:30, - Eggs—Hennery, 46a50; fresh selected, 45a46: current receipts, 41a42. Poultry, alive—Turkey, young, 30a32; old toms, 27a28; Spring chickens, large, 28a30; medium, 28a30; broilers, 32a33; fowls, 27a28; Leghorns, 20a23; roosters, ANUARY 18, 1930. FINANCIAL. demand being a direct result of con- | sumers having plenty of time to pick the bones when the fish are served for Sun- | day morning breakfast. | Supplies of fish, both fresh and frozen, | were heavy enough to enable wholesalers | to meet demands of the trade, there be- | ing no special demand for any particular | variety reported. Fresh fish from nearby waters were scarce, but frozen fish from | the North and fresh fish from the South | were of numerous enough varieties to | satisfy all retailers and consumers. } Oysters continued in_plentiful sup- | ply and a good demand for the bivalves | wr 3 reported. Prices continued the same as prices quoted the past few days. | MORE CORPORATIONS PROTECT EMPLOYES ‘The value of group life insurance as a means of providing for the welfare | of men who have grown old in the service of their employers is being utll- | ized by an ever-increasing number of | large corporations who take more than casual interest in the well-being of their staff of workers. ‘The Woodward Iron Co. of Wood- ward, Ala, has secured group life in- surance covering its entire organiza- tion of about 3,000 persons. The in- surance, which amounts to several million dollars, is arranged on the co- | operative plan, with company and in- dividuals sharing the cost of premiums. The publishers of Iowa’s largest news- papers, printed in Des Moines, took out $1,000 of group insurance for each of thelr employes a year ago and re- | cently applied for an additional $1,000 for each worker. Employes of the Mueller Brass Co. of | Port Huron, Mich, are covered by a group policy invoiving $1,607,000 on 767 lives. e BUILDING ACTIVITY. By the Associated Press. Building activity in the United States territory east of the Rocky Mountains started out the new year at a much more rapid pace than it was moving during the closing days of the old year. The situation was illustrated today by Census Bureau figures giving the daily average of new contracts for construc- | tion let during the first 10 days of | January and comparable periods. Ten dave endin J 1930 Secured by first deed ot Prevailing_interest Joseph 1. Weller ¢ Moving, Packing and Storing Fidelity Storage Company Mothiproof storage. silver vaults. rug cl n "' warenouse - experience. v. ver Money advanced. 1. rooms. Ask any bu Inoes man of Sant: Estimates frce " N. 404, Councilor & Buchanan Certified Publie Accountants Wm. Gordon Buchanan Tower Bullding National 6110-6111.6213 (Tele Directory Omi First Mortgage Loans Lowest Rates of Interest and Commission | Thomas J. Fisher & Company, Inc. e MONEY TO LOAN On Local Real Estate TEREST LINKINS CO. ., Established 1888 1733 De Sales Street Decatur 2500 20; ducks, 15a18. Dressed—Turkeys, young, 36a38: old, 32a33; Spring chick- ens, large, 34a35; medium, 34a35; broil- ers, 38a40; fowls, 32a33; Leghorns, 26a 27; ducks, 28a30; roosters, 23a25; ca- pons, 35a40; keats, 50a60. Meats—Beef, 20a22; veal, 28a30: lamb, 28a30; pork loins, 28; fresh hams, 24; fresh shoulders, 22; smoked hams, 25; smoked shoulders, 20; bacon, 25a26; lard, in bulk, 12}2; in packages, 1315, Supplies of apples today continued very liberal, supplies being received from New York, Pennsylvania and Virginia, barrel stock, box stock coming from Washington. Barrel stock from New York sold around $5.50 and $6 a bar- rel. Most of the Pennsylvania and Vir- ginia fruit was received in bushel bas- kets, prices ranging from $1.25 to $2. Box stock sold at $3 and $3.25, Plentiful supplies of Florida oranges and moderate supplies of grapefruit, also from Florida, were reported this moérning. It was reported by dealers that the Florida fruit shows much im- provement over earlier receipts. Tree- ripened fruit, both oranges and grape- ;rul!‘ sell a trifie higher than other ruit. Oranges were quoted from $3.25 to $5, grapefruit, as to size and quality, sell- ing from $4.25 to $4.75. California oranges, not so plentiful, were offered at higher prices than the Florida fruit. Dealers this morning had some large | and attractively colored tangeries to offer the trade, but the demand was not very brisk. They were only in moderate receipts, dealers reported, fancy stock selling_from $1.50 to $2.25, few higher, while No. 2 stock, !2 boxes, sold from $1 to $1.75. Other Fruit Supplies. Cuban pineapples, very large and in splendid condition, claimed attention of retailers and found ready sale, while strawberries, not as plentiful as early in the week, but possessing the same large size and splendid flavor, were of- fered at 40 and 45 cents a quart box. Grapes, alligator peal bananas, lemons, persimmons and cranberries were other fruits to claim attention of buyers this morning. There was the usual long list of veg- etables in the commission house dis- trict this morning to satisfy demands of wholesalers, the outlay including practically every variety of vegetables found here at any season. Cabbage, spinach and kale, received in fairly large quantities, gave the market the appearance of anything other than Winter. Immense quantities of kale came from the vicinity of Norfolk, Va while the spinach was from nearby and tthe South. Spinach was offered, as to quality, from 75 cents to $1.25 a bushel basket, while the kale sold around $1.75 and $2 a barrel. Hampers of new cabbage sold from $2.25 to $3, old stock from New York and nearby selling at lower prices. Moderate supplies of beets, product of Texas growers, and light supplies of carrots, also from Texas, met a demand that continued the market steady. Beets were offered at $3 and $3.25 a crate, nearby stock selling at lower prices, while the carrots were of- fered around $3.25 and $3.50. Eggplant was in_light receipt from Florida shippers, sales being too few to quote prices, and light receipts of string becns resulted in increased prices, $3.50 and $4 a bushel basket. Very light re- ceipts of squash also was mentioned in the morning’s market reports, the vege- table, wrapped, bringing $3.00 and $4. ‘Tomatoes were not very plentiful this morning, dealers quoting them around $5.50 a crate, some of them being green. There were plentiful supplies of mush- rooms to be had this morning, prices be- ing low. Best stock sold around $1 and $1.25 a basket, some in poor condition selling as low as 75 cents. Marine Products. A fairly heawy Saturday morning de products was reported , & dealer explaining the WANTED: Bond Salesman, WITH CLIEN- TELE. We have very attractive opening for man who can sell municipal and other high-grade bonds to banks and investors. D. H. Moore 734 Southern Building Washington, D. C. Ofl;ccs {Ol’ cht in the Chandler Buflding 1427 Eye St. N.'W. N the heart of Washington's financial district. Single Offices and Suites EATURING free secretarfal service, public _stenographer. ice water on each floor, high- opeed elevators, excellent outside light and Venetian blinds at all windows. SHANNON . & LUCH Managing Agents 1435 K St. Nat. 2345 First Mortgage Loans In Arlington County and Alexandria, Virginia Commonwealth Investment %06 15th St. N.W. Phone National 2623 Mortgage Loan Correspondent for The Prudential Insurance Co. ———2 HEATING i Makes This Possible No Discomfort No Inconvenience Terms to Suit You Washington Gas Light Company Hou:e Heating Dept. ational 8280 Columbia Building Association Pays 5% Compounded Semi-Annually 20 Years' Successful Business Without the Loss of a Dime o $1 or More Will Start Your Thrift Account See Us When You Want a Real Estate Loan o (Under Government Supervision) 716 11th St. N.W. More than a third of a century’s experience Practicai Management —touching every phase and feature of the operation of apartment house properties— is embraced in our service —and offers ‘profitable solution of your problems. B. F. SAUL CO. National 2100. * * Service 925 15th St. NW, Management FLAT-BOAT EMPIRE crowd a small flask of AMID loud “Huzzas” from the water was emptied into New York Harbor—water from Lake Erie borne on a flatboat through the newly-completed Erie Canal. Glamorous were the predictions made for this great enterprise. But the results exceeded even SWARTZELL, RHEEM anpD HENSEY co. MORTGAGE BANKERS 727 (5 STREET N.W. WASHINGTON D.C the wildest expectations! The huge middle west began to pour the fruits of its fertile land into the eastern cities . . . flatboats carried grain from the prairies. For the far-sighted builders had seen that the soundness of their project was established on an unshakable foundation—the mighty land-empire of the west. They succeeded as everyone must succeed who bases his in- vestment on land values, the fundamental factor in this country’s prosperity. It is for this reason that cer- tain investments have always re- mained stable, unshaken despite stock-market fluctuations — in- vestments such as the 6 per cent First Mortgage Notes sold through Swartzell, Rheem & Hensey Company. ¥ In all the country’s history no sounder invest- ment has been known than First Mortgages on improved ful property. Nor has any safe invest- ment consistently provided bigger yields. Today, as in the crises of the past, our earnings naturally will return to normal channels of investment and investors should realize that at no time has the tuation for improved property in Washington been more favorable. — —_—————————