Evening Star Newspaper, February 3, 1930, Page 13

FINANCIAL, NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office, WASHINGTON GAS HAS RECORD YEAR Report Shows Earnings of $5.94 a Share—Subsid- faries Also Gain. BY EDWARD C. STONE. In connection with the annual meet- ing of the Washington Gas Light Co., ©Ord Preston, the president, has mailed the report to the stockholders covering operations during 1929. This report shows that the gas company had the best year in its history, having earned $5.94 per share on the stock. The ‘Washington and Georgetown companies combined earned $7.12 per share and the Washington company and all sui=- sidiaries $7.22 per share. ‘The company reported an increase in gas sales for the year of 90,000,000 cubic feet. Total net earnings amounted to $772,441.78 in comparison with $658,- 768.89 in 1928. During the year the company adopted the continuous meter reading method, which meant about five fewer meter reading days to the management. The old system would have shown some $97,000 additional income. Election Postponed Until March. The election of directors and officers was postponed until March 4. Follow- ing the presentation of Mr. Preston's Teport to the stockholders a motion was made to adjourn the meeting for a month, which was carried. While the motion gave no reason for the proposed delay, it is to be inferred that the move was made in connection with ac- tion before the courts brought by the Public Utilities Commissioh. The present directors include Mr. Preston, Robert D. Weaver, H. Prescott Gatley, Wilton J. Lambert, Fred S. Burroughs, George B. Fraser and Chris- topher H. Pope. In addition to the resident, the other high officials in he company are: Robert D. Weaver, vice president; George M. Whitwell, secretary; Lawrence Townsend, treas wrer, and Richard A. Ennis, controller. Today's meefing, whfih adjourned at 1 o'clock, was well al -a large percentage of the stock being repre- sented. Other Highlights in Report. In presenting the details of the re- port for the year ending December 31, 1929, Mr, Preston says, in part: The net corporate income amointed to 2,441.78, of which $468,000 was distributed in dividends, the same as has been paid for the last 12 years. There was cajried to surplus $304,- 441.78, an increase over the previous year of $113,672.89. The total amount of gas sold was 6,081,441,205 cubic feet, an increase of 90,004,170 cubic feet over 1928. ‘There were in use at the end of the year 696 miles of main of all sizes, ap- proximately 77,700 house services, 8,368 street lamps and, including the subsid- fary companies, 130,219 meters. This is an increase of 5,828 meters during the ear. r Net expenditures for additions, bet- terments and improvements to plant and equipment amounted to $500,- 255.47. Of this amount 60 per cent was used for the:distribution system. During the latter of the year the company put into ation a mod- ern mech: ~account tem for the ‘of customers’ accounts, at the same time adopting the continuous meter reading method. These changes will produee better records and effect economies in operation. Income in 1929 in Detail. ‘The Washington Gas Light Co.’s in- come account in 1929, as reported to the stockholders, follows: Income from operating properties: Qperating revenues. £5.536,206.81 Qperating expenses.$3.727.068 34 ncollectible bills 2828198 axes (including | come taxes ...... 314.920.03 Total reven ductions % 4.070,276.35 Operating income. 1,465,930 46 Income from non-operating properties: i 4.050.00 36.654.52 40.704.52 Uncollectible _non- operating revenues 199.48 est revenues.. Total non-opes ing income., 40.505.08 1,506,435.52 g Deductions’ from Gross carporate income: teres . on lone T, debt T 509.975.00 ellancous inigr: est deductions .. 118,65158 Afortization of debt ‘discotnt and ex- Sy aficelfangsin dédic 2 rom gross STho 7.160.76 18,206.40 corporate income. Total or rom gross cor- porate income.. 133.993.74 Net Tymaam Iglehart Expands Local Office. Announcement was made today that Donald M. Nixdorfl of Winchester, Va., and Charles D. Carroll and Horace C. Haines of Washington have become as- sociated with the Washington office of J. A. W. Iglehart & Co. Mr. Nixdorft . was formerly with Hemphill, Noyes & Co.; Mr. Carroll with the Chase Se- curities Corporation and the American Security & Trust Co., and Mr. Haines with Westheimer & Co. and the Riggs National Bank. The Iglehart firm is enlarging its Washington organization and increasing its facilities here partly because of the growth of its business since it acquired a seat on the New York Stock Exchange about six months ago, and partly in anticipation of continued improvement 4n the demand for bonds. Just before the first of the year an- nouncement was made that John M. Daiger and Robert Stead, jr., would be the resident managers of the firm's Washington office, which is in the Na- tional Savings & Trust Building. Other offices are in Baltimore, Richmond, ‘Wilmington, Del.; Wilkes-Barre, Pa.; Charleston, W. Va., and Clarksburg, W. Va. The firm is a member of the New York. Baltimore and Richmond stock @xchanges and an associate member of the New York Curb Exchange. Dr. Birl E. Schultz, educational di- Tector of the New York Stock Exchange, will be the speaker at the first” forum mecting of this season, his subject being “The Nation’s Market Place,” which will be illustrated by two reels ©f motion pictures. T income. .. ay evening, Pebruary 12, at 8 o'clock in the ball room of the Raleigh Hotel and the subject should prove to be par- ticularly interesting to those who have never had the opportunity to see the ©opcrations of the Stock Exchange. A buffet supper will be served after the address. The forum committee in- cludes James A. Soper, chairman; H. W. Burnside, T. Hunton Leith snd L J. Roberts. & Pierce in Investment Field. With the opening of business today, the brokerage house of E. A. Plerce & Co., which maintains a Wash! office, entered the investment banking fleld. The firm will now do investment banking and corporate financing. As announced some time ago, Plerce has bought out the retail sales and stock ~commission organizations of Merrill, Lynch & Co. Several partners in Merrill, Lynch & Co. have now be- come conpected with E. A. Pierce & Co. E. A. Pierce, head of the firm, has ;e:n udu‘i lg v;:llzl gtreet for 29 years, TTIAT m: manager of the ‘Washington office. ‘The 1929 report of the Trans-Lux Daylight Picture Screen Corpora shows net profits of $525,388.01, as com- pared with $268,746.12 for 1028, There &re 785,862 shares outstanding, Notice—All stocks are sold in one hundred-share lots (65s) _(283s), ec:ll‘tlu-m the which shows those stocks to by be ~Prev. 1930.~ High Low. Dividend Ri 33% 22 Abitibl Power & Pap. 3% 64% ADbitibl P& P pf (6).. 57% 45 Abraham Strauss.. 105 20% 284 Stock and 23% Adams Expr (1.60).. 11% Advance Rumley. Advance Rumley p! Lead ) 1% Ajax Rubber... 7% Alaska Juneau. 8% Albany I'W Paper. 30 Alpha Port Cemt (3). letter s sold in odd Sales of Each Stock Compfled to 12:30 P.M. Add 00. High. Low. Cl 2 26% 26% P38 ) P S 104 Abraham & St pf (7), 20s 108% 1 9 208 71 56 37 36 81 56 08 1081 28% only. lose. 26% 71 28% 36 5 10% 10% 10% 2 381 31 23 Alleghany Corp..... 800 20% 231 284 951 Alleg Corp pf (5%).. 255% Allled Ch & Dye(n6). 49% Allis-Chalmers (3).. 18 - Amerada Corp (2). 7 Am Agricul Chem 27% Am Argicul Ch pf. Am Bank Note (13). 63 Am Bank Note pf (3) 10s 7 Am Beet Sugar.... : § 40% Am Bosch Magneto. 46% Am Brake Shoe(2.4 2 8% Am Brown Bov Elec. 53 60% Am Brown B E pf(7) 90s 117% AmCan (4)......... 143 78% Am Car & Fdy (6)... 1 86% Am Chicle Co (12%). 3 26% Am Com Alco(n1.60) 10 35 Am European See. 9 88% Am & For Power.... 225 95% Am&Forn Pwr2dpf. 1 107 Am&Forn Pwrpf(7). 2 28 AmHide& Leapf... 1 55% Am Home Prod(4.20) 2 36% Am Ice Co (t4). 3 4 5 13 35% Am International (2) 2 Am LaF & Foamite. 30 AmLaFr & Foam pf 40s 99% Am Locomotive (8) 2 112 Am Loco pf (7) 1 210 Am Mach & Fdy (7) o 44 Am Metal (3).... 10 65 Am NatGaspf (7).. 10s 77 AmPower &Lt (1) 45 80 AmP&LptAst(5). 2 30% Am Ra&Std San 1%.. 259 20% Am Republies....... 3 801 Am Rolling Mill (2). 10 59 Am Safety Razor (5) 5 110% Am Steel Fdy pf (7). 20s 46% Am Stores (2)......, 1 60% Am Sugar Rfg (5)... 1 104 AmSugarRfgpf(7). 1 19% Am Sumatra (3)..... 3 26% Am Tel & Ca (5)..... 208 216 Am Tel & Tel (9). 81 197 Am Tobacco (8) 197 Am Tobacco (B) (8). 120% Am Tobaccopf (6).. 1 125 Am TypeFdry (8)... 2 Am Type Fdry pf(7) 30s mwnter Wks (n1): 10 Anaconda W&C (3) Anchor Cap (2.40)..: Andes Copper (3)... Archer-Dan-M (2)..; Armour I11 (A). Armour 11l (B). 1 17 Artloom pf (7). 20 Art Metal Works (3) Atch T & S Fe (10).. Atch T&SF pf (5)... Atl Coast Line (110). AtlG& W Ind % Atlas Powder (4). Atlas Powdr pf (6). Atl Refining (12). Auburn Auto (§4) Austin Nichols, 1 Aviation Corp Del... 18 Baldwin,Loco (1.95). 77 Baldwin Loco pf (7). 20s Baltimore & Ohio (7) 55 Balto & Ohio pf (4).. Bang & Aroos (3%).. 12 Bang & Aroos pf (7). 10s, % Barnsdall A (2)..... 14 Beacon Oil....... 1 Beatrice Cream (4).. 2 Beech Creek RR(2).. 208 % Belding-Heminway.. 1 Belg NRyptpf5.49. 1 Bendix Aviation (2). 102 Best&Co (2)....... 16 Bethlehem Steel (6). 76 3 Q Bklyn-Manhat (4) Bklyn Union Gas (5) Brown Shae Co (3)., Brown Shoe pf (7)..: 108 Bruns-Balk-Col..... Bruns Ter & Ry S... Bucyrus Erfe (1). PL(7)... 108 Burr Add Mch (80c). 14 Bush Term (g2).. 2 Bush Term deb (7).. 105 Butte Copper & Zinc. 5 -Butte & Superior (2) Butterick Co. (A M) Byers (A M) pf (7). Calif Packing (4) Callahan Zine & L, Calumet & Ariz (1 Calumet&Hec(ad3). Campbell Wyant (2), Canada Dry G A (5). Canadian Pac (10). ., Cannon Mills (2.80) ., Capital Adm (A)..... Case (JI) (6) e 10 Caterpillar Trac (3).. 6 Cavanagh-D p£(63%), 10s Celotex (3). sae Cent Aguirra As 1% Cent Alloy Steel (2)., 13 Cent Alloy 8t pf(7).. 20s Cent RROI N J (112) 31 Century Rib Mills,,, 1 Cerrode Pasco (6),. 40 Certain-teed Prod. Checker Cab (4.20. Ches & Ohio (10). Ch; ke Cor) Chi & East Il pf. Chi Great Western. ,, Chi Great Westn pf, , Chi Mill 8t P&Pac.., 24 Chi Mill 8t P&Pac pf, 83 Chicago & N'W (6).. 10 Chi Pneu Tool. . 15 ChiPneuTpf (3%). 2 ChiRTI&Pacpf (6). 1 ChiR1&Pacpf (7). 1 ChiR 1Y & Pac (7).. 9 ‘Childs Co (2.40) Christie Bra (1.30 Chrysier Corp (3) City Stores (1), 2 Cluett Peabody (5).. 10 ‘oca~Cola (4) 5 4 49% 495 4 28 28% 2T 2TH 21 46% 45% 46 ColGas & El (2)..... 18 Columb Graph (87¢). 137 Columbian Carb (16) 20 Com Credit (2). 65 Comm Credit A ( 3 76% Com Crd 1st pt (6%4) 80s 47% 36% ComlInv Tr (g1.60). 12 T 22 25 100% 99 111% 232 464 624 % T3% 133% W 42% 4815 112% 49 226% 221% 221 120 181% 109% 923 102 10% 27% 103% 169 % 851 10214 38% 228% % 115% 119 114% u7 80% 0% 69% 11 1 28% 23 1 15% 74 3 35 6 8315 41% 36% 101% 100% 126% 126 Ldlyg 40% 115% 14% 19% 25 11 86% 12% 18% 39 28% 99% 99y 49% 48 40% d0% 106% 106% 4 3% 4% 21% % 112 40% 115% 23 285% 63 T4% 48% 24 32% 107% 314 3% 62% 14 40 242 63% T4% L2 33 108 314 3% 64% 217 68% % b4 i 101% 107% 19% 62% 25 38y 9 B82% 144% 101% 107% 120% 9 34 144 86% B4% 28% 274 196% 187 31% 30 39% 39 8% 84 47 46 100 2 280 276 276 9 59% 57% 59 % 111% 242 46% % 133% 42% 481 112% 49 226% 221% 221 120 131% 109% 9214, 102 10% 27% 103% 169 8 854 1024 38% 228%, 114% 17 80% 69% 111 23% 15% 3 100% 126 141% 40% 116% 14% 20% 2| 111 36% 12% 13% 39 28% 9915 49 40% 106% 4 5 21% 81% - 112 23 235% 63% T4% 49% 24% 32% 107% 314 3% 64 14% 40 219% 70% 53% 101% 107% 120 65% 125 38% 9 32% 144% 9% 84% 27% 188 30% 39% 85 46% 31% 27% Comm Solvents (1).. 498 31% 29% 3014 128 Comwlith Power((4). 2 12% Comwith&Sou(60c).. 433 48 Conde Nast Pub (2).. 1 13% Congoleum-Nairn..s 10 Consol Cigar (7)eeee. 6 45 CongressCgr (16%). ©& 15% Consol FiIm (2) 2 18 Consol Film pt 4 96% Consol GasN Y (4).. 180 99% Consol Gas NY pf (| 49 Consol RRCubpf(6) 3 1 Consol Textile. .. 12 Cor A 120, “ CorD Braea 141 16% 145 15% 4T% 17 146 16% 4% 17% 66 baw 62% 50 20% 20% 23% 28% 111% 109 146 16 4T% 17% 54k 52% 20% 28% 109 4 100% 100% 100% 1% 1% 1% 2 17% 1% 1% 2 6...6% .6 Prev, Close. 26% T0% 57% 108 20% g 19% 18% 181 19% 38% 21 % % % * 17 125% 122% 1225 1254 8 229% 29% 29% 29 2 8% 10% 28% 111% 00% 56 1% 17 ~Prev. 1930.~ High. Low. 48% 42% Kroger Gr&Bak(nl). % ... (Qontinued o Bage 140, . Stock and Sales— Dividend Rate, Add 00. High. 39 Contl Baking A. 42 4T 44N 5% Contl Baking B....., 31 5% 88 Contl Baking pf (8).. 6 89% 50% Contl Can (23), .., 28 Contl Dia Fibre (3), 59 Contl Insur (2.40) 5% Continental Motor; 21% Contl Oll of Del, 2784 874 24% 26% 104 43 17 8614 21 251 18 Crucible Steel (k5) Cuba Cane Sugar, Cuba Cane Sugar p Cuba Couvvusnns Cuban-Am Sugpf.., 2 Cudahy Packing (4). Curtis Publish pf(7), Curtiss Wright Corp, Curt Wright Corp A.. Cutler-Hammer. Davison Chem Diamond Match (8). 4 Dome Mines (1)..... Dominfon Strs (1.20) Drug Corpn (4 4 Duplan Silk pt (8). Dupond de Nem (4).. 117 Duquesne 1st ot (5).. Eastman Kodak (8) 4 Eaton Axle &S (3).. 4 Eitington-Schild Eitingon pf (6%). Elec Auto Lite (6) El Auto-Lite pf (7). Electric Boat. EI Pwr& Lt (1)..... 11 Elec Storage Bat (5) Elk Horn Coal pf.... Emmerson-Brnt A. Emp Capwell (2)....100; Eng Pub Serv ($1).. Eng Pub Sve pt (6%) 6 1508 .+ Exchange Buf (1%). 20s Fairbanks Co. Fairbanks Co pf..... 1 Fairbanks Morse (3); Fairbanks M pf (7). . Fash Park Asso (2% FedM&SpL(T)...a Fed Motor Tr (80c).. Fed Water Ser A 2.40 Federated Dept Strs.. Fid Pho Fire 1(2.60). ] 1 First Nat Strs (2%). Fisk Rubber. . Fisk Rubber 1st pf. . Florsheim Shoe A. ... Florsheim Shoe pf 6. Follansbee Bros (3).. Foster Wheeler (2).. Foundation Co. . Fox Film A (§4) Freeport, Texas (15) Gabriel Snub A. Gamewell Co (5) Gardner Motor. . Gen Amer Investors, Gen Am Inv pf (6). .. Gen Am Tnk Car(34) Gen Cable A (4). Gen Cigar (4). General Electric o Gen G & Elpf A (7)., General Mills (3). Gen Mill 13.30).. Gen Motors pt (7)... Gen Outd Adv A (4). Gen Outd Ad vto (2). Gen Public Serv (b6) Gen Ry Signal (5)... Gen Refrac (t4%)... Gen Theat Equip vts. Gillette Saf Raz(n5). Gimbel Brothers, Glidden Co (h2). Glidden pr pf (7) Gobel (Adolf). Goodyear Tire (5)... Goodyear 1st pf (7)., Gotham Silk H (2%) Gotham 8 H pt (7)..: Grand Silver Strs (1) Grand Union. . . Grand Union pf (3).. Granite City Stl (4).. Grant (WT) (1)...v Grt North pt (5) Grt North pf et (5). GtNctfsOP (a3%). Grt West Sug (2.80). Grt West Sug pt (7). Grigsby Grunow (2), Gulf Mo & North. ... Gulf Mo & N pf (6).. 7 Gulf Sta Steel (4)... 1 Hackensack W (134) 1008 Hacken pf A (1%)... 10s Hahn Dept Stores,., 45 Hahn Dept S pf (| 4 Hanna pf (new) (7). 180s % Hanna (M A) 1st (7) 30s Hartman A (2) . 3 Hartman Corp B1.20 75 6% HayesBody......... b Helme (Geo H) (17). Hershey Choe (5).... Hershey Choc pf(16) 4 Hocking Val (10)...; 4 Hoe (R) &Co....... Holland Fur (et2%). Hollander & Son..... Houdaille Her B (2). Household Prod(t4). HoustonOfl.......0 - aS poBRpan=Sneeen Illinots Central (7)., liinois Cnt s In (4). Independ Ol & G (2) Ind Motor Cyele. ..,. Indn Motorcycle pf. ., Indian Refining. Indian Refining ct. .. Ingersoll Rand (4).. Inspiration (4).. Insurance Shars 45 Interboro Rap Tran, Interlake Iron (1). Intl Bus Mach (n6),. Intl Cement (4)..... Int Combustion. . ... Inter Comb Eng pf. . Intl Harvester (234). Intl Harv pt (7)..... Int Hydro E1 A (e2). Intl Match pf (4).... Intl Mer Marine (1)., Int Nickel of Can (1) Intl Pap & P A(2.40). Intl Pap & Pwr B. g.. Intl Pap & PwrC.... Intl Pap & Pwr pf(7) Intl Printing Ink (3) 1 Intl Print Ink pt (6). 108 Int Rys,Cen A p£(5). 1608 Int Salt (6).......,. b0s Int Tel & Teleg (2)., 122 Inter Dept 8t (2).... 120 Inter Dpt St pf x w(7 40s Investors Equity(2). 45 Island Creek Coal(4) 2 Jewel Tea (4 . 3 Johns-Manville (3)., 44 Johns-Manv pf (7)., 1208 Jones & Laugh pf(7)260s Jordan Motor Car... b Kan City-Sou (6. Karstadt (R) (1.02 Kaufmann)D 8 (1% Kayser Jultus (4) Kelly-Spring Tir Kelsey Hayes (3). Kelvinator Corp. Kennecott (5).. Kinney GR (1)..... Kinney (G R) pt (8) Kolster Radio. , SH) (1), . 2 Kreuger&Toll (1.34). 109 49 Prev. Low. Close. Clos 45% 44 5% 89 59% 28% 69% 8 90% 1 2% 13 81 1% 61% 45% 115% 6% 13% 69 123% 171 139% 66 98% 69% 62 36 21 26 6% 22 38 36 9 95 29% 81% 61 4 19% 43 407% 102% 45% 45% T4% 95% 24% T4 ¥ 404 38% 97 23 % 30% 116% 5% 16 42 95% 60 84 470 20 29% 10% 28% 55 58% 39% 50% 61% 28% 128% 7% 22% 8% 50 23% 22 178 29% 15% 30% 28 163% 58 % 46% 90 141% 34 76 27 88 27 17 13% 80 52 94% 67% 75 69% 87% 2% 20 42% 54 142 121% 119% 24 8 12% 19% 35 5 295 10% 28% 2815 461 46% 46% STOCKS IRREGULIR | Come o= BONDS o] |BONDS IRREGULAR IN UPWARD TREND Market Somewhat Unsettled by Profit Taking in Recent Leading Issues. BY STANLEY W. PRENOSIL, Associated Press Financial Editor. NEW YORK, February 3—Favorable trade news from some of the basic in- dustries rrovided the ground work for an irregular recovery in prices in today’s stock market, although the advance was by no means uniform because of heavy profit-taking in some of .the recent leaders. Scores of active issues were marked up 1 to 6 points, and a few spe- cialties much higher. Combined shipments and bookings of the American Brass Co. and the Ana- conda Wire & Cable Co. in January were reported to be 80 per cent of the average rate of combined shipments in 1929. This announcement started a brisk buying movement in the copper shares, which had developed a big short interest on the theory that producers would be unable to maintain the 18- cent price for the red metal, American Smelting was quickly marked up more than 3 points, Anaconda crossed 78 for & gain of more than 2 points, and Kennecott and a few others advanced a point or so. Although current traffic and earnings statements have been disappointing, the rails nevertheless presented sev- eral strong_spots. Denver, Rio Grande & Western pre- ferred advanced 6 points. Atchison was marked up 4% points, Unlon Pacific 7 | and Chesapeake & Ohio each climbed more than 3 points, and several others advanced a point or two. Hocking Valley, which soared 105 points last week on odd lot transactions, soared 19 more points today and then reacted 23, and Jersey Central jumped 10. Bohn Aluminum, Continental Baking A, National Cash Register, Houston Ofl, Warner Bros. Pictures, Warren Bros. and Detroit Edison sold 3 to 5 points Simmons was heavily sold in mid- afternoon, dropping more than 3 points. Special Dispatch to The Star. BALTIMORE, Md, February 3.— Poultry, alive—Turkeys, pound, 30a34; old Toms, 20a22; Spring chickens, 20a 33; Leghorns, 22a25; old roosters, 17a18; ducks, 16a26; old hens, 20a29; Leghorns, 23a25; geese, 18a28; guinea fowls, each, 40a60; pigeons, pair, 52. 3 2 . i whites, firsts, 39a40; culls and dirty and fancy creamery, ; ladles, 31a32; store packed, 20; rolls, 25a28; process, 34a35. " 'Vegetable Prices. Potatoes, white, 100-pound sacks, 2.25a3.00; sweet potatoes, barrel, 2.00a 3.00; yams, barrel, 2.00a3.00; beets, crate, 3.50a4.00; beans, hamper, 1.50a 2.50; cabbage, hamper, 100al1.25; car- rots, 100, 3.0024.00; caulifiower, crate, 1.50a2.50; celery, crate, 1.50a3.00; let- tuce, crate, 2.25a5.00; kale, barrel, 1.50a 1.75; onions, 100 pounds, 1.50a1.75; pep~ pers, crate, 3.00a5.00; peas, bushel, 15022.25; parsnips, basket, 60a80; spinach, bushel, 1.25a2.00; squash, bushel, 2.00a2.50; tomatoes, crate, 2.50a 6.50; turnips, hamper, 40a50; apples, bushel, 60a2.75; cranberries, box, 5.00a 5.50; grapefruit, box, 3.50a4.50; oranges, box, 2.10a4.75; tangerines, box, 1.25a 3.50; strawberries, quart, 55a65. LIVESTOCK MARKET. Cattle—Receipts, 450 hea supply; market steady. Steers, choice to prime, none; good to choice, none; medium to good, 11.50a12.50; fair to medium, 10.25a11.25; plain to fair, 9.00 210.00; common to plain, 8.00a9.00. Bulls, choice to prime, none; good to choice, 9.50a10.00; medium to good, 9.00a9.50; fair to medium, 8.50a9.00; plain to fair, 8.00a8.50; common to plain, 7.00a8.00. Cows, choice to prime, none; good to choice, 8.50a9.00; medium to good, 7.50a8.50; fair to medium, 6.75 *|a7.25; plain to fair, 5.5026.50; common to plain, 4.0085.00. Heifers, choice to prime, none; good to choice, 10.00a 1.00; medium to good, 9.00a10.00; fair to medium, 8.0009.00; plain to fair, .00a8.00; common to plain, 6.00a7.00. Fresh cows and springers, 60.00a150.00. Sheep and lambs—Receipts, 2,200 head; moderate supply; market lower. Sheep, 2.0026.50; lambs, 7.00a14.00. Hogs—Rceipts, 2,800 head; moderate supply; market higher; lights, 11.25a 11.45; heavies, 10.75a11.25; medium, 11.25a11.45; roughs, 7.50a9.35; light pigs, 10.25210.50; pigs, 10.80a11.00. Calves—Receipts, 35! 0 head; moderate n_;;a%ly; market lower. Calves, 7.00a Hay and Grain Prices. no_quotations. .Corn—No. 2 domestic, yellow, new, 1.00; cob corn, new, 4.65a4.75. ts—No. 2 white, domestic, spot, gg:,sw,; No. 3 white, domestic, spot, Ya. Rye—Nearby, 90895. Hay—Receipts; 34 tons General hay market is quiet. Some 1f “le hay is ar- riving, but hardly erough upon which to establish quotatious by grades. Bet- ter grades for timothy and clover mixed are selling from 15.00a18.00 r ton, according to quality and condition. Re. ulpva by truck supplying most require- ments. Straw—Wheat, No. 1, per ton, 9.00a 10.00; oat, No, 1, per ton, 9.00a10.00, CITY MAY VOTE ON PLAN TO TAKE OVER UTILITIES Special Dispatch to The Star. NEW YORK, February 3.—Bfllntl.n§ by the people of San Francisco on bon issues aggregating $60,000,000 to take over the electric utility systems of the city will probably take place next Sum- mer. The city recently sold $41,000,000 of Spring Valley water bonds which had been on the shelf of the city treas- urer for more than a year awaitin sale, Improvement in the bond marke made successful disposition of the ob- ligations ible, and the sale served to clear the way for consideration of further municipal acquisition of essen- tial services. Issuance of additional securities to take over the electric power and light systems that serve San Francisco been awaiting a vote for some time. It was indicated early in December by City Attorney O'Toole that the people ht be asked to vote on bond issues totaling _$55,000,000 in the coming Spring. Recommendations for such a bond election would be made to the board of supervisors, Mr. O'Toole said. l(on;omery ‘Ward Sales. NEW YORK, February 3 (#).—January sales of Monf ery Ward & Co. were $18,332,113, ainst $18,128,836 in the same month of 1929, ———— FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs Nominal Co.) 521 ¥old Selling checks T apent, AgUL Warsaw. UNITED STATES. « (Sales are in §: Sales. Hig) Lib3%s. . 108 996 Lib1st4%s.. 31 1003 Lib 4th 4% 204 1011 US3%s 43.. 656 997 5 99 1 20 104 21 1062 18 110 2; Argentine 538 62.. Argentine 65 A Argentine 63 B AustriaTs. .. Australia 4% s 1956.. 62 1957.. 13 10 103 Bremen State 75 Canada §s 1931 Canada 6s 1952 Copenhagen 43 53.. Copenhagen bs ct. Denmark 4%s..... Denmark 5%s 55. Denmark 6s. moderate | Q 1 licky, | AmChem 63%s ev ;s Duteh East I Dutch East I 6: 1,000.) Low, Close. 992 996 1 10026 100 26 0 10030 100 81 995 997 0 9910 9910 103 26 104 110612 106 21 111010 11021 96% 96 96 96% 96% 96% 96% 96 96 9% 91 1% 9% 9% 9TH 96% 96 96 103'% 103% 103% 80% 80U 804 89% 87% 87K 89% 89 89 4% 94% 4% 102% 102% 109 108% 109 110% 110 110% 108 107% 108 115% 115% 115% 111 110% 110% 7% T3% T3% 3 2 12 90% 89% 89% 104 103% 104 7% 15 16 6% 76 6% 81% 811 81% 97% 96 9TU 99% 99% 99% 100% 100 100 102% 1025% 102% 88% 88% 88% 887% 88% 88% 101 101 101 99% 991 99% 90% 90% 90% 96% 97 100 100 110% 111 111 110% 111 91% 91 91% 100% 100 100% 105 104% 104% 101% 101% 101% 102 102 102 106 106 106 865 8684 808 9214 924 92% 99 98% 98% 106% 106% 106% 115 114% 116 121% 120% 121% 5 T Greek 651963, Haiti 6s. Hungary 1% Irish Free State & Italy 7s.... Itallan Pub 8%s. ia Bank 7s Karstadt 6s1943... 6 Kreuger&To'l 55 ct.261 Lyons 6s Marsellle . Mex 45 1904 asnd. Mexico 4s 10 asnt. Milan'6%s.... ‘Montevideo 7s. New So Wales 67. New So Wales 68 Norway 5%s Norway 6%s 1952.. 3 5% 58... 8 Orfent Dev'mt 6553 6 Paris-Ly-Med 18 is-Ly-Med Paris Orleans % s.. ru 63 1960 Rhine Wst EP 6s 53 Rio de Janeiro 6%s 2 5 9 8 4 5 4 26 21 2 1 1 0 Sao Paulo 1950, Saxon (PW) i Seine 78 42... 3 5 2 16 4 3 6 21 19 . 21 2 1 1 12 Swiss Confed 8s. 20 ‘Toho El Pow 6s 3: 3 ‘Toho El Pow 7t 1 Toklo 53%s 1961, 1n Utd Kingm 5%s 37. 6 Unt S S Copen 6s37. 2 Uruguay 6s1960... 1 Vienna 6s 62 4 Warsaw 7s 52 .11 Alleghany Cp 22 Alloghany 55 49, ... 49 Am Agri Chem 7%s 6 Am Chain 6s33.... Am Int Cor 5%849. 16 Am NatGas6%s42 8 AmSmit&R1stbs 2 Am Sugar Ret 8 .| Bethlehm Stl pm Am T&T ev 4% 618 Am Tel&Teleg 5565171 2 AmT& Teltrb AmT&Ts £ §: Am Wrtg Pap 68 47 ‘Armour&Co 438 39 Armour Del 5% ‘Associated O11 6 Atl Gulf 5859 Bell Tel Pabs B Bell Tel Pa s C Bomn weananns ‘Beth Steel rf 6s. Certn-Td 6%s rots. Chile Copper bi Colon Ol 6s 38 Col G&EI bs May 63 Com Invest 5%s 49. Com Invest 654 s paamnaas®a ® » Gen Mot Ac Cor Gen Stl Cast 5%s 4§ Gt S e - Humb! Humble O & R 5% 111 Bell Tel & - Sw Fosancalne Intl Match 65 47 Int Mer Mar 6; Int Paper 65 47, Inter Paper 6s.. = Kan G & E e Kendall 6%s 48 war Lacledebs. ... Laclede G 538 Lautarc Nitrat Ligget&Myers Ligi & My Loew's, Inc 6: - Or NOMNNNEuRERO N0 Lou Gas & El 6s 63.. MeC'rmick ER Midvale Steel 6s.,. 1 89% 89 89% 107 106% 107 102% 101% 1018 86 85% 86 100 99% 99% 101 100% 100% 974 97 98% 98% 93% 92% 93% 95% 95% 95% 103 102% 103 80 80 80 4% T4 T4Y% 95% 94% 954 104 103% 103% 103% 103% 108% 7 13 13 13 14 88% 9% 85% 85 9TH 14 14 88% 9% 85 85 9T 8 100% 100% 100% 103% 102% 102% 102% 102% 102% 102% 102% 102% 88% 88 8RY 9% 9% 9TU 104% 104 104% 105% 105% 105% 100% 100% 100% 5% Td% « T6% % % 5 92% 91% 91% 112 112 112 76 A% T4% 83% 83% 83% 94% 94 9% 100 100 100 106 106 106 89 3% 96% 96 107% 107% 107% 8% 78 18 881 8Ty 8T 90% 90% 90% 103% 103% 103% 104 104 104 103 108 103 108% 108% 108% 9% 98 100 100 88% 881 88% 103% 103 103 98% 98% 98% 9414 94% 94% 86 85% 86% %% T 76 MISCELLANEOUS. 100 100 9% 99% 99% 100 103 103% 99% 99% 100% 100% 95 96 04 T0% 100% 100% 103% 103% 146% 147 100% 100% 106% 105% 100 100% 80 81 89 89 84% 85 102% 102% 6% 76% 103% 103%, 105% 106% 101% 101% 101% 101% 57% 95 % 99% 87 91 1% 61% 61% 105% 105% 41 41 9% 99% 102% 102% 107% 107% 93% 94 1024 102% s 97 97 86 ° 86 100% 101 102% 102% 4 102 102 1056% 105% A% 91 91 100% 100% 100% 101% 101% 101% 103% 1083% 14 98 98Y 92% 94% 9T 9% 85% 86% % 90 90 116% 116% 104% 104% 89 89 103% i06% 101% 102 100% 100% 101% 101% 8% T8% 101% 101% 18 118 105 105% 94 94 83 83y 89% 89% 106% 1067% 100% 100% 101 101" Montana Pow 48 81 Nat Dairy 5%s. Nat Radlator 6 97 97 30 us us,. NYG&EHP s 8 NY Tel 4%s. NY Tel 1. N Y Tel 6549, . NoAmEd5%s62.. 5 Nor Ohfo Tr&L 6 3 Pacific Gas & El Phila & Read Phillips Petro 5%s. Postal Tel & C 6348, ed Stl Car b Remington Ar 6s 32 Rem Rnd 6% war.. Richfield O1l 4“.. Sinclair Oi1 ees Sinclair Ofl 6% Sinclair Ofl 78. Sinclair Crude 6%s. Sin Pipe Line 5 Skelly Oll 6%8. South Bell Tel Southwest B Stand OII N J 4 Stand OIl N Y 4%s.. Tenn Cop 63 B 44. .. Tenn ElecPow6és 47. Tex Corp v 55 1944 Transcontl Ol 6%s Vertientes Sug 7s.. 10 Walworth 6s 45. ‘Westinghouse 5s Westn Union 6s 51. Westn Union 6%s. . Willys-Ov 6348 33., Wilson & Co 1st 6 Youngstn S & T bs. RAILROAD. 4 4 3 AtlanticCL 1st4s. 3 AtlantieCL4s..... 2 Atl & Dan 1st 4s43. 1 B & O Gold 4 6 2 4 1 7 - Bang & Aroos 4s 51, Boston & Maine 6s., Bkiyn Elev. 6%s... Bklyn Manhat 164 Buff R & Pitts 4% Can Nat 4%s 64, 4 3 ¥ 8 9 10 6 14 Y Ches& O 4%893A. 3 Ch&O4%sB1995. 45 Chicago & Alton 3s, 3 ChiGt West 4869.. 9 Chi MiIISP&Pac5s?5 42 CMSP&Pac adjss03 43 Chi & NW gen 4s... 1 Chi&NW 4%s 1987, 1 Chi&NW conv 4%s. 93 Chi& N W 7s. 10 1 29 9 5 1 1 1 22 98 2 6 5 91% 91% 91% 8 103 Cuba Nor 6%s cts.. Del & Hud1ist rf Det & Hud 6%s. Del & Hud 7s 3 1 Den & Rio G e DRG& Wst5s78.. Det United 4%s Erle conv 4s A, Er! E Fla East Cbs Gr Trunk st db 6 1 10 110 3 22 64 6 59 94% 94 2101 101 2 53% 63% b63% 23 108% 106% 107 111 110% 110% 100% 100% 100% 100 100 100 102% 101% 102% 102% 102% 102% 99% 99% 99% 974 97 97 94 93% 93% 9% 9% 94% 88 53% 53% 53% 93% 93% 934 96 96 96 95% 95% 95% 100% 100% 100% 100 99% 99% 101% 101% 101% 98 971 98 95% 954 95% 92 91 91 102 1017% 1017% 103% 103 10: 102 101% 1 95% 95 95 99% 99 99'¢ 106% 105% 106% 101 100% 101 100 99% 99y 93% 93% 93% 854 B4y 85U 100% 100% 100% 99 99 99 867 86% 8614 59% 59% 59% 89 8 89 102% 102% 102% 102 1014 102 1084 108% 108% 99 99 99 100% 100 100 100% 100% 100% 92% 91% ‘92 135% 135% 135% 92 92 92 90% 90% 59 59 921 92% 98% 98% 101% 101% 101% 101% 101% 103% 103% 103% 907 59 IN QUIET MARKET Convertibles Turn Dull After Early Activity—Prime Group Steady. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, February 3—Bond trading was at its heaviest in some time early today, but after the first two hours the market quieted. Convertibles were a feature, but they turned dull and fractionally lower. Prices generally had an irregular trend. The prime group had as many gains as losses. Second-grade rallroad issues tended towards strength, and sq did olls, tractions, sugars and a few in- dustrials. There was only $5,000,000 of new fs~ sues to take care of, and time money, although slightly firmer, was still to be had at 4% to 5 per cent. Dealers re~ ported a considerable dropping in the demand for municipals and a re- newed interest in legal bonds, the latter coming chiefly from insurance com= panles and savings banks. Month-end requirements accounted for the divers sion of a moderate amount of funds. International Telephone 5 per cent, issued last week, advanced fractionally, selling above their issue price of 9613 for the first time. Other gains in the. better grade list included St. Louis~ San Francisco A 4s, Northern Pacific 4s, Chesapeake & Ohlo 4'5s and Co- lumbia Gas 5s. Prime public utility bonds were off a shade. Buying of junior carrier bonds cen- tered in Denver & Rio Grande Western 55, Missouri Pacific 5'%s and Seaboard’ Afrline 6s. Chicago & Great Western 4s were turned over in moderate volume at slightly lower levels. Certainteed 6145, Hudson Coal 5s, Armour of Dela- 109% 109'% 109% 92% 92% 92U 101% 101% 101% % 84 B4k 86% 9% 99% 113% 113% 113% 110% 110% 110% 84 84 84 101% 101% 101% 99 98% 98% 104% 104% 104% 101% 101% 101% % 99 99% 64% 0% 72 90% 72 88% 88% 88% 102 102 99 98% 99 100% 100% 100% 89 89 89 96 95% 96 92% 92% 92% 100% 100% 100% 86 86 86 102 102 102 104 104 104 98 98 69 69 2% 103 103 100% 100% 100% 92% 92% 93% 94 “88% 96% 96% 83 79 ware 513s, U. S. Rubber 5s, Cuba fln Sugar 8s, Phillips Petroleum 5Ys, s clair 6s and some traction issues were' nr’o:::r. f the foreign t ures of fore| departme) were strength in South American is- sues and weakness in bonds of the Aus- tralian government and its states, 1929 SECURITY SALES EQUALED WAR DEBTS By the Assoclated Press. NEW YORK, February 3.—Estimates’ of the volume of new security offerings in the United States during 1929 range all the way from $6,000,000,000 to $10,- 000,000,000. The National City Bank places the figures at approxiately $9,900,000,000, or an amount almost equal to the total war debts owed the United States by foreign ocuntries, ‘The same authority classifies $5,752 692,000 of this sum as common stock financing. The remainder was divided among domestic corporation bonds and notes, domestic municipal loans and foreign issues. SILVER QUOTATIONS. NEW YORK, February 3 (#)—Bar silver, 43%; Mexican dollars, 32%. Washington sioek Exchange SALES. ashington Gas 55—$1,000 at 100, $1,000 at 100, $1,000 at 100, $1,000 at 100, $1,000 at 99%. Washington Gas 6s A—$5,000 at 103, Whshington Qs 65 B—$100 at 104 as a 4 Federal-American Co. com.—10 at 32. National Mtge. & Inv. pfd.—300 at 47 Peoples Drug Stores pfd.—20 at 103. Real Est. Mtge. & Guar. pfd. ‘Ter. Ref. & Whrs. Corp.- ., Mergenthaler Linotype—10 at 10714, 10 101 106 105 105 109% 109% 96% 96% 96% Great Northn 1st§8 2 94 944 94% 4 17 3 Hud & Man ref Il Cent 4% 6 Kan City 8 3 Kan City Term Lake Shore 45 31. Long s deb 5s34.. 4 Louts & Nash 7s. 1 Man Ry 1st 45 90.., G? 3 MK&TprinésA. 1 Mo Pacific gen 4: lg 24 16 9 cvt. 18 Mob &0 4%877.... 12 NO Tex& M5s A, i 5 5 t t deb 68. .. StL4%sC 6 StLE%sA lg i 1 Nor Pac 35 2027 Nor Pac 4s. Nor Pac 438 2027.. Nor Pac 53 D. Peo E 1st 4 Philippine RR 4s. PCC&StLESA Port EIPL 6s. Port RL&P 1% 4 Reading gen 448 A Rlo G West el 67 RIATK&L 4% StL IM&S gn 5831 2 60 4 17 l: Third Ave ref 4s 60. 6 Third Aveads s.., 1 UnionPaelstdsc § 108% 108% 108% 111 110% 110% 64% 64% 64% 76l 6% 95 84% 102% 102% | Amq T2% 99% 9% 100% 100% 100% 59% 99% 9% 104% 104% 104% 991% 99% 99% 4% Tak% 9% 99% 981 9T% 9TH 9% 9% 9T 110 109% 109% 95% 95 95% 9% 96% 96% 96% |N. & W. 94% 94% 94N 102% 102% 102% 9% 79 79, 94% 94% 94 106% 106% 106% 101% 101% 101% 5% 6% 5% 60 22% 88 65 103% 103% 112% 112% 89 89 981 98% 971 97k | So% 106%. 106% 1027% 102% 108% 108% 100% 100% 841 84% 284 284 107% 107% 981 98y 105% 105% 98 82 82 96% , 96% 100 100 964 87% 88% 59 | W 74% | Wash. rgen at 10715, 10 at 10714, 10 at 107%, 10 at 107%. AFTER CALL. Ax:;;lun Security & Trust Co—2 at Washington Gas 6s B—$500 at 104, Washington Rwy. & Elec. pld—30 at 851, c-;;lésl Traction 5s—8$1,000 at 93, $3,000 at 93, Bank of Bethesda—10 at 64. Bid and Asked Prices. BONDS. 22588 F S 83383, 53sms% w Barber & Ross, Inc., Cham.-Vanbit. Hotel Chevy Chase Club 5'%s g& C. Paper Mg 6s. B . Cops. Title 6s. 5333 = 3285ad 2 NATIONAL BANK. National Capital. s Columbi A ] 538582858 = . = g8 Second Natlonal Batk of ‘Washingion. TRUST COMPANY. American Security & Trust Co Continental Trust. Merchants' . National Savings & Trust. Union e Washington Lo T SAVINGS BANK. 355883 Buaens 585 Ao 8 Toe & Savin st Washington: §az 3 en United Washington FIRE INSURANCE. American Corcoran Firemen's National Union 5 TITLE INSURANCE. Columbia Title. Real Estate Tii Title & Inv. of Md. com. 97% | E 85 95 2% 92% 92% 105% 106 105 99% 984 99% 99% 994 99% B1% bB1% B1% 821 824 324 ‘Wash. ech. Wash. Medical afl . Woodward & Lothrop pfa 9 97T 97 97 3 100% 100% 100% ‘Whash 435 78 rets ‘Wabash 1st bs. Wbash 6%s 7! Wabash 2d 5s. West 5 9% 9% 90 5 101% 101% 1014 4 103% 103 10344 2 1013 101% 101% 5 81 8 81 94 94,.9¢ Wilks