Evening Star Newspaper, January 23, 1930, Page 15

CURB 1SSUES GAIN INLATE DEALINGS Wide Swings Recorded in Some Shares—Utilities Hold Spotlight. BY JOHN A. CRONE. Epecial Dispatch to The Star., NEW YORK, January 23.—The. curb market closed higher today as panicky shorts and investors speeded up trading. Fox Theaters A was the feature of the afternoon as trapped shorts at one time bid it up 2% to 94 points, from which level it later receded. Utilities led the rally, thereby im- proving holding and investment com- panies with power and light securities. American Light & Traction was one of the widest movers, but Electric Bond & | Share also advanced. gfln Elevator e e l;.‘vm-led (e;hn gain approximating 2 ts nnr e close. Standard Oil of 80 Amnm & roreu Power d lm higher and United u.m & goo'er turned active. Franklin Manufacturing Oa w fmuonnl.ly higher as a re- sult of its earnings report, which showed & gain in net and sales and the f—umln‘ of the 1928 deficit into a 1929 surplus, tly the company passed its common divids lend. General Realty & Utilities prelemd was a_feature among preferred stocks with warrants. It moved up 6 points ing early in the radio list as a result of its 1929 earn- ings of $4.26 a share. Detroit Aircraft, which received an order for 12 planes Wednesday, opened , then declined. Blaw Knox 'll\‘: one of C.E ‘most nh:.‘"nlmnele.i ?Iml- up a point. Pittsburg! forg- did not immediately- "ron the acquisition of the Greenville Steel Car Co. through an exchange of shares. pened at 51‘.:»" : . It o a , or pol y, Wl o a of ndrmtmu that amount. Indian Territory Illuminating Oil, a Cities Service subsidiary, turned heavy, while the latter was firm. INCORPORATED INVESTORS REPORTS EARNINGS GAIN Bpecial Dispatch to The Star. N!"" mronx. -hnrl:r‘ym 23.—Incor~ porat wvestors repo: per &hare in its history for the final quarter of 1929. Total cash in- come during this was $433,251.90, 80% L) 41 22% 0% 49% 1% 52 2 449% 210% Com’wlth Edison 12% 965% representing an increase of $65,442.07 over income during - deduction increased of 34 per cent, during the last three months of 1929. The list of invest- ments showed little change over the Beptember 30 report. NEW vonk COTTON, RK, Jan mu-zmmamuunmmum BONDS ON THE CURB O 3 s B g 3, I 2ymsses P s o - tespessgeizang srses PSS 28328283% 153 oo :gagsi:::s:::s:s:s Ao EEEET L PR ERE B 3 FEFE SRS E sapsseasuy SREARRS F EEERERE SRR P EEREL R R AR ggflg R n"‘ S5 = 2 BonnomoniBnnntuonoswonlow.nsne S am 3333388 ™= F 5 1 223 2ER L Y 34 ‘gddfl g: 285388 T SLETERT Fennd Se2ss 2 sivasdy &: k3 - .._ o 8. ¥ P e ] R [ TR 33! 13 % 10% 642 310 Deere & Co (§). 26% 17% 30% 42 454 484 59 20 3204 120 Duke Power (15) ll 32% 189 50 um 100 El Bond & Sh pt (6).. 38% 39 24% Gunther Law (2) Ainsworth My $334. 109% Ala Great Sou (17).. 109% Ala Gt Sou pf (17) 3 4% Allegheny G COP,- 23 Allled Pow & L T AUP&L1st 2 THE EVENING STAR, WASHINGTON, D. C., THURSDAY JANUARY 23, 193V, NEW YORK LIFE MADE | GROSS EARNINGS OF RESERVE BANK NOW EXCEED -$900,000 P U TR% 79 285 146 3 285 Alumin Good AmBrith t. Am CP&L B (b1 !) Am Colortype (2.40) AmCwith P A hlfl:. s Sy -:-39—‘.-u. AmSuperpow pf () Am Yvette (new) wi. Anglo-Am vet (13¢). Anglo-Am n-v (73¢). Appalachn Po pf (7). 7% Arcturus Rad Tube., 3% Arkansas Nat Gas. .. 6% Arkansas Nn GasA. 5% Asso-£l td. ., 3% AI-GIIA (12.40) 3% Ass0 GEE A deb rt. 1% Asso Laund (320¢).. 3 Asso Ra: 30% Asso Rayon pt 20 AU Const FIsh(140) & Atiant Fruit & Sug. 24 Atlas Plywood (2).. 14% Atlas Strs Corp (1).. 16% AutVMevprpt (), 204 Aviation Corp of A’ 12 Aviation Credit..... 7 Baumann (L) pf (7) 14 Bickfords, Ine (1)... 30 Blaw-X: oxCo(l). £ N TIPSR Ri c D, 2844 Blue Rdg ev pf (ad). 1 Blyn Shoes, Inc. 31% Brasil Tr & Lt (2)... 55 Buckeye PL (4). 3% Burma Corp (t31¢) 4 Bwana M Kubwa. 1% Cab&Wire LtdB 3 Can Marcont 1 Carib Syndica . 20 CentPSv A (aL75),. 12 Cen States El (340c) 4% Centrifug Pipe (§0e) 9 Chain Stores Stock. . 21 Charis Corp (13) n-;hwwzud T 208 126% 126% 126% 126% w2 2 16 4 4 17 41K 414 41 8% 285 % 2% 16 ‘ 41 79 285 21% 4% 16W 25 268% 235 llfl 5% 1% A% 26% 964 I 17% 174 Y% 18% 107 4% 1% 4% 26% 64 908 Ly 17 17 184 107 18% 107 l!h 12% “K L B4 B4% B4 5A% 1208 106% 106% 106% 106% 2 28 27% 27% l 89% 88 3 % 13 IGM 21% 18% 2t ) ervice (330¢c). 126 84 Citles Serv pf (6). 2 16% Columbia Pletu % Columblia Syndicat 1% Comwith & Sou war. 104 95% Com'with & 8 pt (6 93% Comwith Pow pf (6). 12% Com Wat Ser (b6%) 13 3 10 . Continental 01l 15 Coon (WB) Co(2. % Crown Cent Petrol. ., 1% Curtiss Wright war.. 1% Cusi Mex Mining.... 5% De Haviland (50¢). 4 10 3 1 1 5 4 6 3 [3 5 1 o 3 DeForest Radlo.... 5% Detroit Aircraft Cor. 8% Dix Gas & Utilitles. . 14% Doehler Die Casting. 12% Douglas Aire (76e).. 32 Dres(SR)MIgA3%. 34 Driver Harris(new). 4 Dubiller Cond&Rad. . T T 3% Durant Motors. 17 Eastern UtilInvA.. 10 Eisler Elec Corp.... 4 4 3% 14 % % % & 6% 5 31% 31% 31 v i KT SR 10s 236 236 236 236 3% 13% % % 6% 3 & 3% B % 95% 9% 95 1 95% 95% 95% 95% 1 % b 6% 16% 16% 16% 16% lflb 12% 31% 115 9% El Bond & Sh (b§)... 206 83% 84% 15 Elee Pow Asso (1)..; 14 Eilee Pw Asso A (1).. 10% EIP&Lopt war. ... 3% Elec S| ehldg (31) . 45% El Sharehold pf (6) .. Emer Bromo Sel A 2. 9 EmpG F cum pf (7). 25% Empire Pwr Corp(2) 14% Emp Pub Sv A(1.50 % Engineers Gold. . 3 Fairchild Aviation % Fandango Corp. 15% Fiat Stk deb res rots. 1% Fiat Sticdeb rts..... 4% Finan Invtst, NY. 8 Fokker Aircraft. 15 Ford Motor Can A. 3 Ford Mot of Frane: 10% Ford Motor L 3% Foundation For Shi 20 Fourth Nat Inv, 4% Fox Theat Cl A, 21 Franklin (HH) Mf} 4% Galena Signal... . 73% Galena Sign pfcod.. 60s 71% Galena Signal pf old. 18% Garloek Pkg (1 4% Gen'al Alloys (30¢). 24 General Baking. 45 General Bak pf ( 7% Gen B Ltd rets (50¢c) 13% Gen Gas & El (A)... Gen Indus Alcohol. .. Gen Laundry Mach.. Gen Pub Serv pf(6).. 50 - ..!......_...._., NP 18 Ground Gripper (1 % Happiness Candy. 10 Heela Mining (1).... 17% Heyden Chemic (2).. 3% Hollinger Gold (60c) 6 HudsonBay M&S 74% Humble Oil (2). Hydro Elee Serv (2). 10 Hygrade Food Prod. 1llinots P L (20) Ind P L new (123 Indian Terr Illum. Ind Fin ctfs (b10% lnlull Ut Inv(b6%) PR SRR g mmBas an g e T T Insura; % Intercontinent Petn. 15 Intl Petrol, n(62%e). 25% Intl Superpow (31).. 1 Iron Cap Copper. . 10% Int Saf Ras, B(133). 28% Iternatl UtA (3%).. Internatl Ut B. . Interstate Equities. . 40% Interest Eq cv pf (3) 4% Jtalian.Superb war. ., 6% Iitalian Buperpow A.. 100 Jer.Cen. P&L bt (7). 29 Johnson Motor Co. .. 1_ KanCity PubS vte.. * I‘ 1w 1 Kol ur-lr (Am 8h). Lackawanna See(4). L’Alr Liquide. ...... 3 Lefcourt Real(11.86) 23 Lefoourt Real ptf (3) LIVE STOCK PRODUCERS ASSURED OF U. S. AID | comm Press J ve been 10 104% 105 25% 26% % stoek by C. D. 1 4 103% xm ll)!h 108% 22 % 1044 104% 26% 26% 3% 28% 4 10% 12% 31% 11% 66% 10% 9% ”l uu u&u llflfl ll&\t 1 HK ll% 1"& ll'A 23 174 17T% 17T% 17% 84% 1 103% 108% 103% 103% 2 28% 28% 28% 28% and Righ, Low, Dividend Rate. lll 63 Lehman (The) Corp. 30 1 Leonard ou. 1m 36% Lerner 8 (2). Liberty Baking Corp. 124 Lily T Cup (150).... 2 Loews Ine war, 7% Loews Inc deb rts. Loulsiana Lan & Bx. Magdalena Syndieat. Marine Mid Cp (1.30) Mavis Bottling. T % %). Mid Royalty ev fi L Midl Unit (b1% %).. ors T e L T T Montecatini Mount Prod (1,60 Muniecipal Service Murphy Co (1.20). N-tAnm-co ) A Nas Tuveators (new) Nat Pow & Lt pf (7) .; 100- Nll Rub Maeh (2)... Newmont Min (34 Newport Co (2). NY Hon Ros M { (1.20)... m (1%) alty N Y Transit (11.70). Nll'lr Hud P(40¢c) ud Pw A war. N|ll Hud Pw B war. Niagara Shares(50e) Niles Bement Pond. . Noma EI Cor (1.60).. Noranda Mines (3).. North Am Aviation. . Northern P L (15).. North St Pow A (8).. North St Pow pf (7). S o BN ANN AN A RO RN e Ne B Ollstocks,Ltd A $50e Orange Crush (1.50). Otis Elevator new... Pae'Commercial 2.80 Pac G&EIl 1st pf 1% Pac Western Oil. Pantepec Oil. . Pandem Ofl. Param C Mfg Penn Pr & Lt pf (6. Penn Ohio Ed pf (6). Penn O Bd pr pf(7).. Pennroad Corp, PeoL&P A (a! 00). Perryman Elee Co. .. Petrol Corp (1%). Philip Morris Ine. Pilot Rad T A (1.20). Pitney B P n (20¢) Pitts Forging Co.... Plymouth Oil (2).... Polymet Mfg (31). .. Powdrell&Alex(3%4). Pratt&Lambert (15) Prince & Whitely.... Prince&Whitely pf3. Prudential Inv. . Pub Utll Hold war. .. Pug 8P & Lt pf (6). RainbowLumProd B Reiter-Foster (40c)., Reliable Strs (b5 % ) . Rel'nce Managemnt., Richman Bros (3 Rike Kumbler (2. '.) Roosevelt Field, Ine. s » Sron # St Regls Paper (1) St Regis Pap pf(7).. Salt Creek Prod (2).. Schlet & Zan pf 3% .. Schulte Real Estate. Schulte Un 5¢-31 St.. Lock & H (50¢).. ected Industries. . T e oo Sierra Pac Elec (2)., Silica Gelct. . .. Singer Mg Co (126) Sisto Fin Corp. ..., Solar Refining (2%). - 2 R en.n:—u-n——v-‘unnb-abwflu- - Southern Corp. S'W Bell Tell p % Southern Ice Util A. Stan Gas & El pf (7)- Standard Motors. ... Stand Oil Expt pf(5) Stand Oil, Ind (2%). 47 St Oil of Ohlo (2%). 2008 Stand Ofl, Kan (2)... 16 Stand Oil, Ky (1.60). 17 11.% 8t Ofl of Ohlo pf (7). 10s 49% Stand Pow & Lt. 18 Starrett Corp. Starrett Corp pf (8 Sterch Br St (1.20).. Stinnes (Hugo). Sun Inv pf (3) Sunray Ol (40¢).... Swift & Co (3 87% 256% Swift Intern'l(2 %) .. 10% 4 Teck Hughes (60e).. 116 Texas P & L pt (7).. 23 7% Texon Oll & Land. Thermold Co (2) Third Nat Inv (1)... Thomp Prod A 12.40. Tish Realty & Con Tobacco & All Stks. .. Tonopah Belmont. .. Transamer (31.60).. Tran Con Air Tran. , Trans Air Trans ofs. UXDLPS (A)., ‘ont Corp war. ., Tri-Continental Co: Tri-Cont Corp pf ( Trunz Pork 8 (1. Tub Art 8ilk B (10 L ol Lamp (2).. Ungerleider F Corp. . Un NG Can (11.60).. Unilon Tobacco. . Unit Carbon pf (7 Utd Carr Fastnr 1.20 apwaneRinmra - 8~ S = Bulos s » L8 PUPQUIIN - JEPUIT PTSOTVING.. | I Utd Lt & Po pf (! United Profit Shar. U S Lines (50¢) . U S Shares Fin. . Utility Pw & Lt(al). UHIP&L B ctts (a1).. Utility & 1nd. .. Util & Ind pf (1%) Utility Bquities. Vacuum Of1 (14%).. Venesuela Ptm(20¢). Viek Fin Corp. Walker (H) (1). son (JW) ne Pump. Wenden Copper. West Air Exp (§0¢).. Wil-Low Cafeteria. . Wilson Jones (3). ‘Winter (Benj) Worth Inc A. RIGITI. - YT ] New Eng. T.&T. «13 .07 Trans OOPD ue. Money Also Invested in Bonds and 3 iohl of approximately $184,000,000, was | publh uuuu- and % O! o aarsanSBumnanna s law relating to national banking, to % | has seen some of % | to foreshadow accurately the disposition 23% | the foundation of 41000 of free assets. HUGE LOANS IN 1929|” Preferred Stocks Here and in Canada. Special Dispateh to The Star. NEW YORK, January 23.—An aver- age of $600,000 per business day, or a II New York Life Insurance ln 1929, it il unnounned by Darwin 'nu anuhnent ,wu made in mort- loans in the United States and da, in Government bonds, and in |ecua securities of Xm industries, total of $69,672,770 invested in during the year, $19,- :n: 0 was placed in residertial loans in business rty loans and $28,270,~ 660 In a ent house loans. More $56,286,300 was invested in the bonds of munlclpllmes rallroads, muc utilities and industrial n- s, and by invest $20,874,249 in w.rmd and guaran stocks jpany took advantage of the recently companies to invest in preferred or ranteed stocks of corporations which urln. hl:en of the five years pre- ve company l mortgage loans $560,476,778, while the total investment in bonds was $671,- 226,342 Washington Ticker | BY CLINTON COFFIN, Associated Press Pinancial Writer. Congressional indisposition to attempt much serious reconstruction of Federal currency or to the Reserve system at this session is becoming rather pfitent. it somewhat surprising. The Senate banking and currency committee held one session this week and decided to postpone consideration of all measures | before it until the tariff bill has been dealt with by the main body, which may mean a very long time, The House committee, though convened twice by Chairman McFadden, has found it ad- vmle to confine its vr/rkmw dl:t.l:l'i]a"“‘ proposals relating o Hquldlfln‘ insolvent national banks. At the end of a year which has wit- nessed some marked extension of chain banking in the United States, which has been rife with criticism of the Fed- eral Reserve credit policies emanating from speculative quarters, and which mdorumzn;. o{ proposals to let national banks embar] upon extensive inch banking, it seems rather likely thl': little eonzreu sional action is actually going to brought about. The views of committees, plainly indicating that has essary, are rather likely in this fleld of the mem| present. the oounry's poitical Jeader- at count pol ship is disposed to go most slowly in approaching any reorganization of mon- etary or banking law. The Glass Bill. Senator Glass, Dfln:; ip of the House.and r indication that Nev: banking law which have been cated. While the text of the measure isn't yet completed, it can be said that the Gllu bill will probably include all the ideas that have been ly worked out for making membership in the Federal Reserve system more dflr able to um mrm bank. B o’ States whfire v%‘-h Lnlmndum “:he l:; lowed sucl vileges. .- Purther, will be suggested a method ol vlnt proportion of mmm':;r_' earni thm of S8t nn they now get, while Senator Glass also is understood to be proposing to restrict 4 | the lrowt.h of chain banks in the na- ‘This last matter is covered b ya urlu of measures advanced in the Hm!‘:edln?' gets the :;d‘“h.lnnll m-h. o supported Virgin wlwr. who 'u lmehhd both with the Reserve system and with its conduct during a crucial period. Out of the 26,000 banks in the United States something under 8,000 have been there is much d! visability of encouraging nn luhulon D'Oll'ul of chain bal appear that more mn 1,800 banking institutions m it does not te n ‘ational in- cluded in chains. o Emhhl! | be a contest over the Glass but there is now rather nut llhuheod m: not much change gestion as to the need of more study the matter is carried out.. ¥ Loree Projects. Railroad people have been much inter- % ested in the prospects raised by the re- % | cent decision of the 20% | merce Commissio Interstate Com- n ware & Hudson Co. to scparate its road xm:geny from its security hold- ings, with the resultant creation of a holding corporation with some $60,000,~ ‘The most notable personality in-the guiunu of the Dela- ware & Hudson is L. F. Loree, who has. sponsored & whole series of projects for railroad consolidation in both Eastern and Western sas City Southern, St. ern and Mi ri-Kansas-Texas into a single unit was turned down by the com- mission, he can be credited with ad- vancing three other designs that have considerable life yet. One of these would % | permit the Delaware & Hudson to take over a series of terminal properties in Eastern territory; another would con- Chicago & new line across Pen lylvlnln, while a third, somewhat lc- cepted consolidation plan, building J’ of the Wabash system into & new and much mor: unporu.nt East- ern and Sou It is the obvloul th!nx about railroad’ consolidation 1! No progress can be made in it unul nnnmn. capacity as’| to each’ enterprise has been demon- strated. And now that the commission has assented to the creation of the Dela- wue & Hudson Holding Co., which quite ntly increases Mr. Loree's scope action in seeking railroad eun'-ml Q.hm will be much curiosity as to how “lha and hll associates will use the new powers, $2.50 Gold Pilece. It is & rather odd fact that the very popularity with the lnurnlflmll puhlic of one American coin, the $3.! 50 gold plece, has induced Secretary Mellon to demand the cessation of cof commif jbuted throughout 287 cities in the |ings 9% | United States and Canada, $21,765.900 the | serve banks amounted to pnud law which permits life insurance | 19: Among these affliated with the Reserve system, and o ol hr‘nrprvfofl.lmold. it insti- o spite ol the S’n‘nnuuflu & o aies ot st Hoevers llfn o by the recent commission general | &f contemplates the | st Surplus of System T A AT 6 at End of 1929 Amounted to 162 Per Cent of Paid-In BY JOHN F. SINCLAIR. Special Dispatch to The ltl;’—" o N!W YO“ January osep] wrence, of “Wall Street and Wumn:um. hu made some interest- ing comments regarding the Federal Reserve system. He says the gross earnings of the 12 banks, since the format of the Federal Reserve 15 years ago, are slightly in excen of OU S tvery gl ot gross earn r & 423 cents are used in the con- duct of the bank, H' cents pass into wlus 16.1 cents sre paid to the nited States Government and 10 cents ID to the sole owners, the member Dbanks. ““At the end of 1928, says Mr. Law- rence, “the surplus of the Federal Re- 160 per cent of the paid-in capital. By the end of this had been raised to 162 per cel Net earnings for the past year amounted to $36,403,000, or 229 per cent on the average p-ld -in capital. “Again this sum was divided, as fol- lows: $9,584,000 as dividends to mem- ber banks, $4,283,230 as a franchise tax to the Treasury and $22,536,000 to the surplus account.” But the ‘withdrawal of member banks e system . continues, ¥ uch :nxlety Only 60 per oenl of the ls of the coun- G;t o! '.he Federal Reserve system. y? 1. Many banks oppose the Federal Reserve policy of paying no interest on member bank balances, on paying only 6 per cent annually on stock owned in Federal Reserve banks, and in wiping out all collection chlrveu on out-or- town checks and drafts. 2. Many banks feel thlt State banking charters are more liberal. prmeulve and flexible ‘than national 3. )nny feel, too, that the growing wer of the Federal Reserve system not & healthy condition for emur banking or business. Th-c opinions, while not held by of bankers, have consid- mbla national support. In the bulletin of the national busi- ness survey conference—the official or- gan of the Barnes national business committee—a s is made re- garding just what information from the various industries is wanted for a com- prehensive survey: Ascertain the strong and weak spots. Pass up the strong ones; just be glad they exist. Put the | microscope on the weak ones. Find out their causes. Determine proper measures for: deal- be | ing with them. Cnrry the program into praectical ef- 'l‘he Machine Tool Builders’ Associa- tion of Cincinnati putsithe same thing this wg' “We should not try to get not te is not nec- | fec Julius H. Barnes, the chairman, ‘:"’. first published statement: monetary stock of gold is reduced, and banking and economic specialists object to that on 80”1t is likely that Mr. Mellon's sug- gestion will be approved Congress and-the $2.50 gold plece follow the S-cent plece and the “shin plaster” fractional into ? Thers 1s tn ‘this Tem anothes sades s — NEW YORK BANK STOCKS. NEW YORK, January 23 (Special).— Banks, et 535 g8us & = e 225! 5oty SEsuunnganty angrasiras i R h Sa. orkville. nkers, new .. While the Loree Diah to fuse the Kan- | & Louls Southwest- | Corn muce through the New York, mmmrln = w Tle. &' Manufaciurers Murray Hill. New York. seific After a strike lasting eight' months, shipyard joiners of l!nt !rehnd. have just returned to work, ha tfl\ granted wage advances amounting to about hnl! What they demanded. Capital. " xl:hnmlm'l zf’m‘ cammmem {n“mm of cities are surve ivate g re- quu-ementa to determine the extent of ew buil operations which may be unflerhken dr_m.l i That telh the story of the national committee’s work in an effective and comprehensive way. The acid test of prudence in public expenditure in the field of capital ex- pénditure falls under three heads: 1—Is a particular project necessary 2—1Is its probable mc reasonable -nd wlthln '.he capacity of the proposed plan of wund? ‘These are the ones laid down by the finance department of the National Chamber of Commecre of the United States. “No condition ever junmel useless, wasteful or un ly public _ expendl- ture,” "says Robert P. Lamont. “Pmem economic conditions justify an eéffort on the part of every community to vroceed‘rrom t- ly with the construction of all and timely public improvements !hll may be helpful in the absorption of any unemployment and assist in the stabili- zation of wi The wide pubiicity given w uu yer mcml llm to statements made in good faith lt fi'llt conference as a license for extravagant and wasteful expenditures. Many construction improvements are needed irf many places today, and have been needed for some time. Such um- tal expenditures should therefore made, taking into consideration the three conditions of the acid test sug- gested herewith. lt will be difficult’ for the Nation to g0 far wrong under such a program. upreme of the Federal Trade Commission’s Jjurisdiction under the cumn mu- trust act. It was in finding that purchasing by one shoe company ot uu stock of another, when less than 5 per cent of the business of both is obtained in competition with each other, does not substantially lessen competition. This really is a reverse ruling of the Federal Trade Commission, which di- rected the International Shoe Co. w dl- vest itself of the stock of .the W. McElwain eo.&ny on '«he und thlt it was a viol yton anti- trust act. It developed at the hearing that the International sells to a country trade, while the other company city (ho purc! within the nunlu and mmpmuon the Clayton act. ‘(Copyright, 1930, h North American News- i Alllance.) INSURANGE FIGURES MAKE NEW RECORD By the Assoclated Press. NEW YORK, January 33.—New busi- ness done in 1929 by. 44 life ingurance companies,. representing 74 per cent of ey | the country's production in this field, reached the tecord-breaking total of $12,885,000,000, .an increase of 5.4 per cent-over 1928. The Association of Life Insurance Presidents, in reporting the figures, said that with the exceptions of May, Sep tember and December, new life insur- ance increased in month of r, Industrial Aworer mnhmno GRAIN MARKET. oinn, e et A su ” Whet from mand _f the whut 't market, here mmn‘hm% most of the time als to Kok fm‘m&n(«blet'ol IINANCIAL CIm 42; thlry mw“ P , alive, fowls, 27 to z’mn:“pflzm'.'mo. 3, 17; brollers, 30 to 33; Toosters, 18; turkeys, 25; ducks, 18; small, 16; geese, 18, POTATO MARKET. CHICAGO Jan| 23 (United De W{ A.flculm Iture) — gefe EEs !segiga - SR A8 o VACUUN TUBE SALE) o IGURES MOUNTIG Radio Receiving Set Business/ Handicapped by Heavy 1929 Carryover. BY J. C. ROYLE. Radio. reeelvln. set, proau?.\ah-n“ !il :hull: proceeding ler ~ restraint trend is lhnnt from. the fleld of electronic or vacuum tube production.: recelving set stocks are fairly heavy with a very sizeable carryover from 1929, Thsu have to be marketed before the In can get back ulely H’bfifll reaching offic! dwul ments here. Such marketing must pro- ceed, moreover, without the mxmmu of of Commerce | being stantly. Variety of: Uses. “ m:; ";'h now deemel:o essential in lephony. are used t0 open garage doors, at nu’{wnuolchnmz:ma lighting of an airport on the approach- ing hnk of an af used in of sound pictures, pe: of tel and cable for ht- e muua“:nd mu' in the of airplanes, mevulon llnua control and traffic on them !a 3 lor:e extent have come depend tel :.hhe regulation of carrier systems gne They are’used. m Lhe counting of wln! and other articles, in the grading o goods and their separation by colors, \n the practice of medicine lnd ln the mmfl ';i‘rpfl.. flm tal be th ing And metals ne the earth’s surface is now conducted ick or drill, but by means and- their ummv: Te- actions. my are being adopted for ttrmhd:mu:tlond ofl crime, for ';m ]wnlt‘ml an -% e leveling of elevators and hun of other pur- ximately 55,000,000 tubes were 1929. The replacement demand alone is estimated at between 35,000,- 000 and 40,000,000 and there is no reason to believe that the replacement demand will be smaller t.hl.l ynl‘. It is e o e e eqi ent for this will be at least 17,500,000, -nm new uses are likely to in- :l’:"l: uu consumption to an extensive " Rights and Royalties. this favorable outlook which to the dis- trade. . In this connection the court held that | { hase of the stock of a falling | m, Steel. $35.60 35.72 Publie Accountants Wm, Gordon Buelnlun NM muman Direstory Omtsston) Guaranteeing Satisfaction *“Clears Your Desk ~Speeds Up Work” Wvamymnd{ur Use Kleradesk — the six baskets or trays in the space of one. Kleradesk is made of interchangeable steel compartments. Add or remove sections as desired. Finished to match your furniture, Let us show you how Kleradesk will add to your