Evening Star Newspaper, February 5, 1930, Page 10

FINANCIAL. NEW YORK STOCK EXCHANGE Received by Private Wire Direct t- Notice—All stocks are sold in one hundred-share lots 1 Gain in Unemployment Noted| in Reserve Survey—Time Deposits Increase. BY EDWARD C. STONE. In his monthly review of business and | nancial conditions in the fifth Fed- | Reserve district, Chairman W. W. on of the Federal Rescrve Bank of Richmond. sayvs “Busin>ss in the fitth Federal Re- gorve district in De- showed in- last month in upper half of the district ¢ ceeded sales in De cember of the pre 3 year. but < in ‘the CATo- , Fernand: showed di: g stk tinet recession last nth in compari- son with the earlier month. Debits to individual accounts in 24 leading cities for the four weeks ended January 8 showed a small increase over debits for the four weeks ended December 11, but the gain was much less than usually occurs at that season, and a compari- son of the latest figures with those of | the corresponding four weeks ended January 9, 1929, shows a drop for the current period of $73,153,000, or 5.3‘ cent Loans and Discounts Off. | and discounts of 58 regularly yeporting member banks in the larger s of the fifth district decreased be- | en December 11, 1929, and January 5. 1930, and these banks also reduced their rediscounts at the Reserve bank. Country banks reduced their rediscounts to some extent during the period under | review as agricultural liquidation con- tinued. but the reduction was less than in the city institutions. ~On January 15, 1930, rediscounts held by the Fed- eral Reserve Bank of Richmond totaled 27 per cent less than on December 15, 1929, and 26 per cent lass than on Jan- uary 15, 1929. “The circulation of Federal Reserve notes followed a s-asonal trend last | month, continuing to rise to a high | point two or three deys before Christ- mas, and then rapidly declining after the holidays. Deposits in member | banks were lower at the middle of { January this year thsn a vear earlier, but time deposits showed an increase during the past month. Commercial failures in the fifth district showed a moderate increase in December over those reported for November, a seasonal development. but also compared un- favorably with insolvencies in Decem- ber, 1928. However, the increase in comparison with failures in the preced- ing December was less in percentage in | the fifth district than in the Nation. Fewer Contracts Awarded. “The value of biulding permits issued | for new construction in December, 1929, was only a little over half the amount | included in December, 1928, permits, | and contracts actually awarded were Jess than half the awsards in the earlier month. The number of unemployed persons in the fifth district rose during the past month more than seasonal average. Coal produciion in Dzcember exceeded production in either Novem- ber, 1929, or December, 1928. On the other hand, textile mills operated less extensively and consumed 10.8 per cent fewer bales of cotton in December, 1929, than in December, 1928. “Spot cotton prices showed some ten- | dency to stiffen during the first half of January, and advanced approximately & quarter of a cent a pound over the price at the end of Dzcember. Tobacco marketing continued during December, and on the whole prices were somewhat better than earlier in th> scason. Wholesale trade in five lines was rela- tively poor in December, sales in four of the five lines being materially less than sales in December, 1923, and collections were, on the whole, slower last month than a year ago. Cuniberti Exchange Bank Head. Among the Washington bank presi- @ents re-elected at the recent annual ting was Fernando Cuniperti, for 21 years head of the International Exchange Bank at Fifth and H streets northwest. Mr. Cuniberti has been in charge of this institution ='nce the resignation of Joseph Schiavone. Sev- eral years ago before entering the bank- ing field he was connected with the Italian embassy here, later going to New York, where he was highly suc- cessful in business in that city. The International Exchange Bank has shown substantial prosperity undecr his guid- ance. The banker’s home is on R streel in Georgetown. The grounds were open for inspection last Summer, during Georgetown’s garden week and received most favorable comment from a host of visitors because of their artistic ap- peal. The interior of his residence is equally attractive, Opens Office in Philadelphia. ‘Townsend Scott & Son, which main- tains a Washington office and is one of the oldest investment security houses in the United States, is today announc- ing the opening of a Philadelphia office for the conduct of a general investment and sccurity business. This firm was founded in 1832, and the original Townsend Scott was also | one of the feunders of the Baltimore Stock Exchange in 1844. The present | Townsend Scott represents the fourth generation of the family to hold part- nership in this firm and membership in the Baltimore Stock Exchange. The | firm participates in national syndicates and originates an average of about five bond issues per year. Will Move Safety Boxes. Plans are being made for transferring the safe deposit boxes of the Conti- nental Trust Co. to the safe deposit de- partment of the Commercial National Eank. All physical equipment of the Conti- nental, together with its several depart- ments, were transferred to the Commer- cial National Building some time ago. ‘There are about 1000 boxes to be moved, however. The transfer will be made under heavy guard. Exchange Trading Picks Up. ‘Trading was much improved on the| Washington Stock Exchange today, bonds taking the lead in the day’s ses- sion. Washington Gas issues, Railway & Electric 4s, Barber & Ross 6%.s and Potomac Electric Consolidated 5s ap: peared on the board, selling around re- cent levels. In the stock division Mergenthaler Linotype made a new high on this move at 108. Railway & Electric preferred sold at 96% and five shares of Capital Traction moved at 97. Ten shares of Commercial National Bank stock sold at 240 and 10 of Bank of Bethesda at 63. Warehousing Corporation was off, selling at 48. Financial District Gleanings. Harry L. Selby, manager of the Farmers & Mechanics’ branch of the Riggs National Bank, has recovered from 10 days’ attack of grip and re- turned to his office. Piduciaries section of the Dfstrict ‘Bankers' Association will meet Wednes- day, February 12, at the City Club, with dinner starting at 5:30, according to announcement by B. L. Colton, com- mittee chairman. Donaldson Cleveland of Baltimore ‘has become connected with the Wash- ington office of E. A. Pierce & Co,, in the investment department. Cunberti. whick shows those igh 131% 118 32 2% 914 114% % 216 120%: 170 HO% 623, 395 90%, 343 116 119% T0% 1z 223% 120% % 3% 39% 80 47% 32% 146 16% 49% stocks to be sold in odd lots only, Sales of Each Stock Compiled to 12:30 P.M. %o Dividend Rate. Add 00. High. Low. Close. Close. Erev. Abitiln Power & Pap Abraham Strauss... 5 231K Adams Expr (160).. 29% 11: Advance Rumley. .. 19 Advance Rumley pf. 874 % Abumada Lead..... Aflr Reduction (3) 21 Air Way El Ap( 1% Ajax Rubber. 7% Alaska Juneau. Alleghany Corp..... & Alleg Corp pt (5%) - 4 Allied Ch & Dye(n6) 79 4+ Allis-Chalmers (3) 613 % Alpha Port Cemt (3) 2! 7 Am Agricul Chem. .. 27% Am Argieul Ch pf. 18 Amerada Corp (2) 77 Am Bank Note (13). 40'x Am Bosch Magneto. 46% Am Brake Shoe(2.40) 8% Am Brown Bov Elec. 4 Am Can (4). 1404 Am Can pf (7). 8% Am Car & Fdy (6) 110 Am Car & F pf (7). 36% Am Chicle Co (1234) 63 Am Com Alco(n1 60) % % 125% 29% 30 1023 1003 2781 275 613 1333 131% 1401 140': 1401 141 807 80 1 : ae 2 1081 108 108 98 Am&Forn Pwr pf(7) 95% Am&Forn Pwr 2d pf. 19% Am Hawallan S 8 (2) S Am Hide & Lea pf... 5% Am Home Prod(4.20) 36'¢ Am Ice Co (14). 35% Am International (2) 97 Am Locomotive (8). 111% Am Loco pf (7)..... 44 Am Metal (3). % Am Piano... . Am Power & Lt (31) Am P&L pf A st (5). Am Ra&Std San 13 . Am Republics Am Rolling Mill (2). Am Safety Razor (5) 1% Am Ship & Com. . ¥4 Am Sm & Ref (4 100 13 0% 3 92% 8315 37 26% 913, 100% 1113 17 50% 947y 113 111% 48 3 64 1 Am Steel Kdy (3). Am Stores (2).. 60% Am Sugar Rfg (5) 04 Am Sugar Rfg pf(7) Am Sumatra (3).. Am Tel & Tel (9). 3 Am Tobacco (8). .2 Am Tobacco (B) (8). Am Tobaceo pf (6). . Am Type Fdry pf(7) Am Water Wks (n1) 995 Am Water W 1st(6). 7's Am Woolen. 19% Am Woolen pf. 29': Am Writ Paper 812 Am Zinc Ld & Sm Ann Arbor. Ann Arbor p Anaconda Cop Anaconda W&C (3 Anchor Cap (2.40) 81% Andes Copper (3). 24% Archer-Dan-11 12) 79 Armour Del pf (7) 5% Armour 111 (A) 2% Armour 111 (B) 36 Asso Appl Ind (4)... 28 Asso Lry G (2%). 219% Atch T & S Fe (10).. 102% Atch T&SF pf (5)... 166 Atl Coast Line (110). 724 AUG & W Indies. 59 AUG&W Lpf( 36% Atl Kefining (72). 81! Atlas Powder (4) 175': Auburn Auto (J4). 3% Austin Niciols...... 37 Auto-StSaf R A (3). 4% Aviation Corp Del. . 30% Baldwin,Loco (1.75). 4 111 115 224 12 226% 224 2 120% 120 60s 108 108 190 103% 997 197 120 120 108 100% 102 6% Do 40 ). 1 3 1 4 6 0 2 7 230 4% 440 4du 5% 5% 33% 32% 114% 114% 118% 117% 0% 70 110% 110y 23%, . 14 156 103 103 35 5% 33 32% Baldwin Loco pf (7) 130s 1141 114 Baltimore & Ohio (1) 21 116 63 Bang & Aroos (33). 110 Bang & Aroos pt (7). 215 UBarnsdall. A (2). Beacon Oil. B'trice Cream pf (7). Beech Creek RR(2). Bendix Aviation (2). Best & Co (2)..... Bethlehem Steel (). Bethlehem St pf (7). Bohn Al & Brass (3 60'» Borden Co (k3) i Bofg Warner (4 Boston & Maine, s 14} 38 407 Brooklyn & Queens 54 BKiyn&Queens pt (1) 31 Bklyn Union Gas (5) 16 150% 147 13% Bruns-Balk-Col. 2 4% 4% 15 Bruns Ter & Ry S. 2 204 20 2214 Bucyrus Erie (1).... 4 2b% 2oy $3'% Bucyruscv pf (2i3). 2 37 9% Budd (EG) Mfg (1). 3 12 12y &1 Budd Wheel (1) 93 14 1 Kt Buffalo & Susq pf (4) 30s 7% ki Bullard Co (1.60) . 38 26's Bulova Wateb (3 281 Burns Bros pf (7 93 % Burr Add Mach (1). 481 36 Bush 5 42 100% Bush Term deb (1).. 105 110 Bush T Bldg pf (7).. 112 3 Butte Copper & Zine. 4': Butte & Superior (2) 1612 Butterick Co. . B0ty Byers (A M). 66% Calif Packing (4)... 81% Calumet & Ariz (10). 29 Calumet&Hec(ad%) 19 Campbell Wyant (2) nada Dry G A (5). adian Pac (10)... 10 2015 25% 87 12% 141 93 49 42 105 30s 106 2 12 RauNaSNas h 51; Celotex (3)... % % Cent Alloy Steel (2). 591 Cerro de Pasco (6).. Certain-teed Prod. .. Checker Cab (4.20).. Ches & Ohio (10).... 2 Chesapeake Corp (3) Chi & Kast 111 pt % Chi Great Western. 367 ChiGreat Westn pf.. 24 ChiMill St P&Pac. .. 41% Chi Mill St P&Pac pt #4 Chicago & N W (5).. 22% Chi Pneu Tool.... 51% Chi Pneu T pf (3%). 114 ChiR1&Pac (7).... 4 Chi R 1& Pac pf (6). Chickasha C Oil (3). Chtlds Co (2.40)..... 1 Chrysler Corp (3)... 40% City Ice & F (k3.60) . 8% City Stores (1). 32 Cluett Peabody (5).. 91% Cluett-Peabody pf(7) 4 133% Coca-Cola (4). 14% Collins & Aikm 36'% Col ¥uel & Iron (2).. 68% Colo & Sou 1st pt (4) 70% Col Gas & El (2).... 71% Col Gas&E rets ptpd. 24% Columb Graph (87¢). 168% Columblan Carb (16) 15 194 23% Com Credit (2)...... 8 31% 31% Comm Credit A (3).. 2 40 77% Com Crlstex w 6%. 30s 85 36% Coml Inv Tr (§1.60). 16 475 27% Comm Solvents (1).. 257 323 123 Comwith Power((4). 12% Comwlth&Sou(60c). 47% Conde Nast Pub (2). 13% Congoleum-Nairn 45 Congress Cgr (15 44 Consol Cigar (7). 15% Consol Film (2) 18 Consol Film pf (2).. 96% Consol Gas N Y (4). 99% Consol Gas NY pf(5) 49 Consol RR Cub pf(6) 1 Consol Textile. ..... 12 Container Cor A 1.20 4% Container Corp B. 39 Contl Baking A. 5% Contl Baking B..... 88 Contl Baking pf (8). 50% ContlCan (2%)... 28 Contl Dia Fibre (3) 59 Contl Insur (2,40) 5% Continental Motor: 21% Contl Ofl of Del. 27% Contl Shares (1). 87% Corn Prod (13%). 24% Coty, Inc (K2)...... 25% Cream of Wht(12%) 9 Crex Carpet.. > 10% Crosley Radlo (1) 43 Crown Cork & Seal 86% Crucible Steel (k5) % Cuba Cane Sugar. % Cuba-Cane Sug cifs. 36 203 ae Flr 88 mERanal 54 119% 119% 102 101% 26% 5 4 b 119% 119 102 263 6%, 404 1 143% 1435 143 194 e 143% 1435, 50 31% 29 i 35 50 73 290 90V 1 90% 341 20% 29 18814 30% 1 233 269 114% 1124 2 100'% 100 1 5 53% ~Pre High. ™ 2 13 e 9 a9 % 114% Dupontd N deb (6).. 17% BI% 29% 88 112 61 131 23% 23% 22% 157 52% 69 118% TH% 40 22% 54 144% 120 2% 82 13% 19% The Star Office. Sales— Add 00. High. 3 2m stock and Dividend Rate. Cuba Cane Sugar pf. % Cuba Cane S pf ctfi Cuba Co 714 Cuban-Amer Sugar.. Cudahy Packing (4). 1147% Curtis Publish pf(7) 61 Curtiss Wright Corp. 13% Curt Wright Corp A. 111 Cushman’s pf (7) 64 Cutler-Hammer. 28% Davison Chem. 161% Delaware & Hud 136 Del Lack & W (17) 195% Detroit Edison (8). 30% Devoe & R, A (2.40) 6% Dome Mines (1)... 20% Dominion Strs (1.20) 77 Drug Corpn (4) 15 Duplan Silk (1) 112 Dupond de Nem (4). v. 1930.~ Low. 1% 123 85 46% 116 S - - kBumpranareSenshs clernmtinenn AT R mnm—e 20% Estn Roll Mill(h12). 175% kastman Kodak (18) 27% Eaton Axle &S (3). S ingon pf (6%)... 81 lilec Auto Lite (6). 41% Electric Boat 49'4 £l Pwr & Lt (1) 106% El Pwr& Lt pf (7).. 69% Elec Storage Bat (5) 5213 Endicott-John (5)... 39% KEng Pub Serv (31).. 94% Eng Pub Sve pf (5).. 941 Eng Pub Sve pf (5%) 39%, Kquitable Bldg (2%) 56% Krie RR... 61% Erfe RR 1s 35 Eureka CacCl (4). 1814 Evans Auto L($2%). 47 Fairbanks Co.. 20 Fatrbanks Copf.... 341 Fairbanks Morse (3) 20 Fash Park Asso (2% 74 Fed Motor Tr (80¢c).. 32t Fed Water Ser A 2.40 65% Fid Pho Fire 1(2.60). o B e 9 5 First Nat Strs (2%). 3 Fisk Rubber, 13 Fisk Rubber 15t p 37 Follansbee Bros (3). 601; Foster Wheeler (2).. 15% Foundation Co. 161 Fox Film A (§4). 38% Freeport, Texas (15) 5% Gabriel SnubA.... 69% Gamewell Co (5. 3l Gardner Motor. 12 Gen Amer Invest 90 Gen Am Inv pf (6)... 99% Gen Am Tnk Car(34) 49% Gen Asphalt (4). 254 Gen Bronze (2) 26 Gen Cable..... 65% Gen Cable A (4) 51 Gen Cigar (4) 6014 General Electri 11% Gen Elec spec (60c).. 4614 Gen'l Food Corpn (3) 64'3 Gen Gas&El A (tel2). 50 General Mills (3),. 90% Gen Mills pf (6). 371 Gen Motors (13, 117% Gen Motors pf (7). 35 GenOutd Adv A (4). 32% Gen Public Serv (b6) 86's Gen Ry Signal (5)... 67 Gen Refrac (t44) 39% Gen Theat Equip vts 975% Gillette Saf Raz(h5) 11'» Gimbel Brothers. ... 37% Gold Dust (234). 40'% Goodrich B F (4) 62 Goodyear Tire (5). 90 Goodyear 1st pf (7). 21% Gotham Silk H (2%) 70 Gotham S H pf (7).. 1008 m-Paige. .. 1 8% Graham-Paigect.... Granby Copper (8). . 32% Grlm; %Ilver Strs (1) Grand Union pf (3) Granite City St (4). 32% Grant (WT) (1). 95 Grt North pf (5). 90% Grt North pf ct (5) 19% GtNectfsOP (a3%). 29% Grt West Sug (2.80). 114% Grt West Sug pf (7 12% Grigsby Grunow (2 381 Gulf Mo & North. 94 Gulf Mo & N pf (6. 12% Hahn Dept Stores... 3 71% Hahn Dept S pf(6%) 1 26% Hall (WF) Ptg (m1) 2 85 Hanna pf (new) (7). 260s 100% Hanna (M A) 1st (7) 10s 60 Harb-Walkr Ref (2). 20s 20% Hartman A (2). . 13% Hartman Corp B 54 Hawalian Pineap(2) 87 Helme (Geo H) (17). 21'% Hercules Motor 1.80. 832 Hershey Choc pf(15) 15 1Hloe (R) & Co.. 7 Hollander & Son. 80 Homestake Min (7).. 19 Houdaille Her B (2). 44 50% Housed F pf $3.12% . 52's Household Prod(t4). 35% Howe Sound (t4%).. 46% Hud&Man Ry (3.50). 53% Hudson Motor (5)... 20% Hupp Motor (£2). 128% Illinofs Centra (7).. 21% Independ Ol & G (2) 5 Ind Motor Cyele. 30 Indn Motorcycle 17% Indian Refining 16 Indian Refining ct. 1541% Ingersoll Rand (4) 26% Inspiration (4)...... 13% Insurance Shars 45c. 20% Interboro Rap Tran. 25 Interlake Iron (1). 4% Intl Agricultural. ... 15213 Intl Bus Mach (n6).. 56% Intl Cement (4). 5 Int Combustion. 30 Inter Comb Eng pf.. 78% Intl Harvester (2%) 3114 Int Hydro E1 A (e2). 65% Intl Match pf (4).... 25 Intl Mer Marine (1). 31% Int Nickel of Can (1) 80 Intl Paper pf (7) 26 Intl Pap & P A(2. 46% Intl Printing Ink (3) 61% Int Rys,Cen A pf(5). 105 Intl Silver (18).. 62% Int Tel & Teleg (2).. 30 Inter Dept St (2).... 19 Investors Equity(2). 43 JewelTea (4)....... 117 Johns-Manville (3).. 118% Jones & Laugh pf(7) 2 Jordan Motor Car. 77 Kan City Sou (5).... 12 Karstadt (R) (1.02). 18 Kaufmann)DS (1%) 34 Kayser Jullus (4)... 21 Keith-Albee-Orph. .. 85 Keith-Albee-O pf (7) 3% Kelly-Spring Tiré, 221, Kelsey Hayes (2). 1 Kelvinator Corp. 55% Kennecott (5). 49 Kimberly-Clark(t3). 87% Kinney (GR) pf (8 1% Kolster Radio. 38% Kraft PhCh (1 99% Kraft Ph Ch pt ( 33% Kresge(SS)Co(1. 61% Kress (SH) (1) 23% Kreuger&Toll (1.34) 42% Kroger Gr&Bak(n1), 98 Laclede Gas pf (5) 21% Lago Oll & Trans 97 Lambert Co (8)..... 34 Leh Port Cem (234). 12% Lehigh Valley Coal. . 70% Lehigh Valley (t4%) 29% Lehn & Fink (3).... 19% Libbey Owens (1)... 94 Liggett & Myers(t5) 95% Liggett&Myrs B(15) 7 Lima Locomotive 9 Link Belt (2.60). 52% Liquid Carbonie 424 Loew's, Inc (3) 3% Loft, Inc. 50% Loose-Wi 16% Lorillard (P 8% Louisiana Oil. 38% LouG&EIA (1% '32% Ludlum Steel (2).... 90 Ludlum Stlpf (6%). 35 McGraw-Hill (2).... 61 McK'port TP (143) 32 McKesson & Rob (2) 44% McKes& Rbpf(3%). 1 46 46 70 Mack Trucks (6).... 43 ¥3% 81% T (Continued on Page 11) 681 331 681 3319 THE EVENING STAR. WASHINGTON. D. €. WEDNESDAY, yEBRUARY 5, 1930. P Low. Close. Cl 28 rey. 05 2% STOCKS BOHGHER | ONHEAVY BUYING Utilities, Rails and Food' Issues Are Featured in Broad Advance. el BY STANLEY W. PRENOSIL, Associated Press Financial Editor, | NEW YORK, February 5 —Easier | money rates and favorable trade news provided the background for another broad rally in prices in today's mar. ket. although flurries of profit taking | and short selling occasionally slowed up the advance. Ticker delays were again the rule as blocks of 5,000 to nearly 15,000 shares changed hands and started a buying stampede in certain stocks believed to harbor a large short interest. Scores of issues were marked up 2 to 8 points, and there was a scat- tering of 1 to 5 point declines. Call money dropped from 41 to 4| per cent as February 1 divide i interest disbursements rPtun\l‘gnldu .'.?12 banks. Wall Street felt rather con- fident that the Bank of England would cut its discount rate tomorrow, with opinion still sharply divided as to whether the New York Federal Reserve Bank would immediately follow suit or wait for a few weeks. In some quarters it was believed the cut in the New York rate might be delayed until just before the offering of the German in- ternational loan. Favorable News. From the automobile trade came re- ports that Chrysler's January shipments were 50 per cent above the same month last year, and a bullish statement on the automobile outlook by John N. Willys, following his conference with President Hoover in Washington. The latest freight car loading figures showel a gain of 15,268 cars over the preceding week, but a drop of 63,853 cars below the same week of 1929. Crude oil pro= dus%‘lon again declined sharply last week. Iron Age reported that the general rate of steel output was now 76.7 per cent of capacity, with all but two pro- ducers doing 70 per cent or better. It points out that “in their extreme cau- tion in November and December buyers underestimated their requirements after the turn of the year, with the result that these were immediately translated into orders.” “Now that this readjust- ment of demand to production has been made,” it adds, “the trade is more con- serw;tlve in forecasting further improve- ment.” New York & Harlem, which has been fluctuating over a wide range in the last two weeks, jumped 8 points in the early trading. Philadelphia Co. advanced 77 and Houston Oil 6. Gains of 4 to 5 points were recorded by General Rail- way Signal, Warren Bros, Brooklyn Union Gas, American Power & Light, American Water Works, Standard Gas & Electric, Westinghouse Electric and American Bank Note. United States Steel, which sagged to 1823 in the early trading, rallied to 18415, but met heavy profit-taking around that level, and backed up again, Other Changes. American Locomotive sank 2V points | Dutch East16s 63, FINANCIAL. | ON NEW YORK BONDSSTOCK EXCHANGBI Received by Private Wire Direct to The Star Office UNITED STATES. (Sales are in $1.000.) Low Lib3%s..... Lib 1st4%s Lib 4th 4% .. 104 1012 60 9912 50 104 8 37 106 28 106 2 10 11025 FOREIGN. Sales. High 6t Argent! Argentine 63 A Argentine 6s B Australia 438 56.. Australia 68 1955.. Australia 55 1957 Bank of Chile 6% Bank of Chile 6%s. Belgium 6% Belgium 75 1955. Belgium 78 1956. Belgium 7%s Belgium 8s Bolivar 7s 58 Bolivia s ct 69 Bolivia8s... Bordeaux 6s. Brazil 6148 192 Brazil 6%s 1927. Brazil 7s Brazil 8 Bremen Canada 5s 1931 Canada 55 1952 Chile 63 60. C 110% 108 115% 110. 7 2% 894 103% 6561. Chile 7s 1943 . Colombia 6s Jan 61. Con Pow Japan 7, Copenhagen bs ct.. Cuba 5% - Czecho 88 1 Danish Munic 8s A, Danish Munic 8s B. Denmark 4%s. . Denmark 5% Denmark DEI15%s . 110% 4 110% o 109% 91% 100 L 1031 % 1015 4 102% 105% 106 20% El Salvador 8s 48. . Fiat 7s war 4 S Fiat 7s ex war 46.. Finland 5%s. Finland s Finland 78......... Framerican 7%s... 28907% 1 Greek 63 1963 Haiti Hungary 7% Irish Free State bs. Italy 78 Italian Pub S 7s. Japanese 4s. Japanese 6%s. . Karstadt 63 1943... 1 Kreuger&To'l 5s et. 3 Lyons 6 M: Mlle 6s....... Mex 45 1904 asnd. Milan 6%s. Montevideo 7: & Netherlands 6s 72.. New So Wales 57 Norway 631943.... Norway Norway 6%s 195 Orlent dev 5% 58 to a new low for the year at 947, but rallied to 100 on President Woodin's denial of rumors that directors were contemplating a reduction or omission of the dividend. Several large railroad equipment orders were made public to- day. Simmons ran into further sell- ing and dropped 3 points. Gillette Safe- ty Razor also was heavy, despite the denial of rumors that the production of the new razor and blades had been delayed. United States Steel closed at 185 to a new top for the year in the last hour and pulled up other popular shares to levels considerably above yesterday’s close. Amusement stocks were heavily bought, Fox Film A moving up 4. Houston Oil gained 7, Western Union 6'2, Johns-Manville and American ‘Telephone 4 and General Electric 2. The closing was strong. Sales approximated 4,250,000 shares. Youl_~ NCOME TAX ‘The personal exemption under the revenue act is $1,500 for a Mingle per- son or $3,500 for married persons living together. Also, a taxpayer may claim $400 for each person dependent upon him for chief support if such person is under 18 years of age or incapable of self-support because mentally or phys- ically defective. Such dependent need not be a relative of. the taxpayer nor a member of his household. The term “mentally or physically defective” in- cludes not only cripples and those men- tally defective, but persons in ill healtk and the aged. Frequently the question is asked. “Why is a return demanded when the personal exemption and credit for de- pendents amounts to more than the net income and thus reflects a non-taxable return?” The filing of a return that shows no tax liability, however, is not a uscless procedure as far as the Bu- reau of Internal Revenue is concerned. Orfent Dev'mt 6s 53 Paris-Ly-Med 6 Paris-Ly: d Ts. Paris Orleans 5%s. Pirelli 7s 52. Poland 63 40 Poland 7s (rcts) Queensia Queensland 7s Rhinelbe Un 7s.... Rhine Wst EP 6s 52 Rhine West 6s 53. . Wst EP 7s 50 Rio Rio Gr do Sul 6s 4! Rome 6%s. Sao Paulo 8s Serbs Crot Slo Shineye L3 27 108% Toho El Pow 6532, 16 98 Toklo 6s. . . 2 7% Tokio5%s1961.... 2 88% Utd Kingm 5%s 37. 12 103% Unt S SCopen 6s 37 9 99% Uruguay 6s1960... 10 94% Uruguay 8 Vienna 6s 52. ‘Warsaw 7s 52. Yokohama 6s MISCELLANEOUS. Abram&Straus 5%s 9914 « 101 1 Alleghany Cp 24 AmChem 533 cv 49 Am Int Cor 5% 49 Clowe 996 | 28 10031 | I 101 2 99 12 104 106 110 Low Close. & 103% 1 % 103% Sales. 65 49 No Am Ed 51862, ! Nor States Pow & | Nor States Pow 6s.. ! Pacific Gas & El 5s. Pac T & T os 5 {PacT & T 1st | Pan Amer Pete 6s. . Pan-Amer Pete 7s. . Paramount 6s 1947. Phila Co 65 67 Phila & Read 63 49. Phillips Petro 5% Postal Tel & C5%» Rem Rnd 5% war Richfield Ol 65 44. . Skelly Ofl 5%s..... is inclair Oil 6s Sinelair O1l 6% Sinclair Of Sinclair Crude 5%s 110% | Sin Pipe Line 5s. 108 | South Bell Tel & 116% | Southwest Bell 5s. . 110 | Stand Ol N J 46. 4':| Stand Ofl N ¥ 4%+. 1 Tenn ElecPow6s 47 1 Tex Corp cv 55 1944 53 Transcontl Ol 6% 8 United Drug 53 53.. 2 U'S Rub 1strf bs... U S Rub T¥%s. . Utah Pow & Lt 6s.. Utilities Pow 5%s. Vertientes Sug 7s.. Walworth 6s 45 Western Elec Westn Union 6%s. . White Eagle O 5%. Wickw Spen 1st. ... Willys-Ov 6155 33.. Wilson & Co 1st 6. Win Repeat Ar 734 s Youngstn S & T 6s. 96y | 1091s 100% 102v | 88% 110% 110 109% 1% 100 104% 101% 102% 106% 106 90% 85% 2% 16 Atchison adj 4s Atchison gen Atch deb 415843, .. Atl & Dan 1st 4s 43, Atlantic C L 1st 4s. 894 | Bklyn Manhat 6s. 85% | Buff R & Pitts d3s Can Nat 4%s 57, Canada Natl 55, 94w, | Cent Pac s e 103%, | Ches & O Corpn 5s. Ches & O gen 4% Ch & O 4%s B 1995, Ches & O con 5. Chi & Alton 3148, .. 99% |CB&Q4%s77 B.. 106 {CB&Q1strfbs... 8% | C BB & Q Il div 4s. 84% | ChI&E 11 gn 58 51. Chi Gt West 45 59.. Chi Ind & L gen 55 89 CMSP&Pac adj5s03 Chi & NW gen 4s Chi&NW conv 4 Chi& NW 6%s Chi& N W 7s. ChiRI&Pgn ChiR1&Prf4s ChRI&P4%s, CStP&O 5s sta Chi St P&O 6s 30 Chi T H inc 68 60 Chi Union Sta 6%s. C& W 15%s62. Clev Term 5% Cuba Nor 5% ef Del & Hud 5%, Del & Hud 75 30. Den & Rio G cn 4s. . 2: 674 | Den&R G W 4148 36 88°% | DRG & Wst s 55. 991 DRG& Wst5s78. 10 911% | East Tenn Va&GaS5s 11 97 | Erie Gen 4s. 22 106% | Erle cv 68 67. 19 78% | Erie & Jersey 6 v 88 | FlaEastCbs™4... 38 :g“z Fonda J&G 4%s52. 1 Gr Trunk st db Grand Trunk 7 Gt Nor 6%s Gt Nor gen 7s GreenB& W Hud & Man aj 6s Hud & Man ref 5 9414 | 111 Cent ref 4s 1061 | Tl Cent 4% s 514 | 111 Cent Chi 43! C. 1 103% 108 98 6% 88% 9914 Int Rapid Trans 7s Int Rys C A 63%sret Kan City FtS4s... Kan City S 3s. 96% | Kansas City 8 5s 7214 4 1007 | Lake Shore 4s 31 Am Sugar Ref Am T&T cv 4%s In many cases such returns are found upon examination not to be non-tax- able, as claimed by the person filing the return. If the amount of personal ex- emption and credit for dependents claimed is more than he was entitled to under the law such amounc is properly reduced to the amount allowable and there is .disclosed a tax lability. COPPER PRODUCERS HOLD PRICES STEADY Special Dispatch to The Star. NEW YORK, February 5.—Coppe statistics for January should be avail- able early next week and are expected to show another increase of somewhere around 30,000 tons in stocks of the metal on hand. It is expected, how- ever, that as the curtailment program of leading producers is made more ef- fective output will strike a balance much closer to the rate of consump- tion. Anaconda’s properties are now estimated to be operating about 30 per cent under a year ago, but it is believed that the industry will get its production down to a basis of about 50 per cent of the 1929 average output as the conser- vation program pr sses. Exports of copper are estimated to be moving at about 75 per cent of the 1929 rate. Cur- tallment of domestic output, however, is expected to be reflected in rapid dimi- nution of surplus stocks once Spring de- mand gets under way. ‘The abilitv of the copper producers to maintain the price of copper metal at 18 cents during two months in which consumers were unwilling to pay this figure and were persistently demanding a reduction is proof that the mine oper- ators have the situation well in hand and are favored by increasing expan- sion in those lines of trade from which they receive their largest orders. Con- sequently the Street attitude toward the cop| shares has definitely changed, with less talk of reduced dividends. Employes Buy Bonds. NEW YORK, February 5 (#).—More than 40 per cent of the employes of the General Electric Co. subscribed $7,605,- 910 to the eighth annual offering of General Electric Employes' Securities Corporation bonds. Am Tel & Tel6%.. Am Water Wks bs. . Am Wrtg Pap 6s 47 Armour Del 5%s. Armour&Co 4%s Atl Gulf 5359, Atlantic Refin 6 Rell Tel Pa 6s B. Bethiehm Stl pm 68 Beth Steel rf 58. Bklyn Edison 5s. .. Bush Term Bldg & Certn-Ta 5%s rets. Chile Copper bs. Colon Ofl 65 38 Col G&FEI 55 May 52 Com Invest 5%s 49. Con Coal M4 bs ConGasN Y 5%s. . Consumers Pow 6. Cuban Am Sugar 8: Cuba Cane 8s Den Gas 5s.... Det Edison 53 40, Det Edison 6: Dodge 6s Donner Steel 7s. ... Duquesne 4%s 67.. Gen Cable 5% s 47.. Gen Mot Ac Cor 6s. Gen Stl Cast 5%s 4¢ Goodrich 6%s. . Goodyear 6s rcts Humble O & R 58 Humble O & R5%s 111 Bell Tel 5s. Inland Stl 4%s 78, Int] Cement 53 43. . Int] Match 58 47... Int Paper 68 47. ... Inter Paper 6 Int Tel & Tel int Tel&Tel 4%s KanG & E6s 52, Lackawanna Stl s Laclede bs. .. . Laclede G 6%8 52. . Lautare Nitrat \ Ligget&Myers Loew’s. Inc Loew's 103% 102 102 104 100% 59 95% 75 100 100% 1027 Manati Sugar 7%s. Midvale Steel 6a. .. Montana Pw deb s, Nat Radiator 6 % 1 30 N Y Edison 55 44, « 1034% 4 10014 % 104% | L.eht Val en 4 150 | Lehigh Valley 65 20 100% | Long Isr 4s49. ... 103y, | Louis & Nash uni 4s 100% | Louls & Nash 53%s. 105% | Man Ry 1st 45 90 99% | Mil El Ry & L 5s St P&SSM en 4 [StP&SSM 5s gtd. MK&TA4%s78... MK&TprinésA. 104% | MK&Ta 102 102 104 100% 61 954 % 100% 8% 61% 106 102% Mob & O 4348 77. Nat Ry Mex 4s 77, 43% ERa mnBonanBoan - EeBunotzalon aBvoaammeans NY StateRy 6%s 62 Nor& S gen s 54.. Penna gen 4%s. Penna 4% s 63. 8615 | Penna gen 5: 90 | Penn bs 64. 117% | Penna 6%s. . 105 | Penna Gold 7s..... 1007% | P2 Ohlo & Det ¢%s. Peo B 18t 4s....... 0 10 it | RTArk &L 4%, 84 88% - - L IM&S gn 6831. 9 SIL&SFpl4sA.. 51 h lg?’& SIL&SF 4143 78.. 106 t L&S Fgen 6s31. 1 t 1. & San Frin 6s. 18 & L&SF gen 5831, 5 98y, StLS W lstds 1 30 St L&SW.condss3. 7 103% StLS W'ss 52, 2 100" 99 High " Low. 99 106% 110% 100% 10 101% 101% | 102% 102 102% 1047 9% 9116 1004 99 i 101% 98 101 99%N 99% 94 8h16 100% 987 Rt 60 103 28 99 1001 100 100% RAILROAD. 881 9214 85 100% 9814 6t 60 89 1011 1085 1 8% 100 100 1004 - 1001 Close. 105 99% 106% 110% 101 100% 105 1024, 102 1 104 991, 963 96 911 100 9974 101% 98 100, 85 100% 98 8612 60 R9 101" 10874 & o 1004 | & | 961 90! ;| changea. INCREASE IN BOND . PRICES CONTINUES More Funds Being Placed in Investment Market—Few 1 Soft Spots. ? BY F. H. RICHARDSON. | Special Dispatch to The Star. NEW YORK, February 5.—With money diverted to the distribution of | new issues, the funds secking nvest= ment in the bond market have increased, and today saw a continuation of the steady rise begun on Monday in all de= partments. The market still has a few weak spots, where some outstanding bonds have been affected by new flotations of the same company. Taken as a whole it is approximately at its highest average of the year. Prime rail issues were quiet and une The strength in the high- | grade section was shown by Standard Oil of New York 4!3s, Duquense Light 4445, Philagelphia Co. 55, Columbla Gas & ‘Electric s, and American Telephone 5¢ (1965), which at 100'; was on a level with the companion issue of 1960, United States Government obligations were unchanged. Convertibles were strong, especially American Telephone 4'.s and Interna- tional Telephone 41,5, The strength in their companion stocks was reflected in Atchison convertible 4'.s and New Haven convertible 65, both a point higher and at new high prices for the year. The greater part of the buying was centered in junior rail issues, Advances were made by Chicazo & Great Western 4s, Fior it C Missouri= t n Francisen m Maryiand 55, Atlantie ! ; oston & Maine 5s. The yields in this group are comparatively high and recent earnings reports have shown better conditions than were anticipated when these same issues were depressd in the tax selling of Derember, A further indication of the type of bonds in favor was shown by advances in Certainteed 5 . Chile Copper Anglo-Chilean Nitrate 7s, Dodge Broth. ers 6s, Goodyear 5s, United States Ru , American Sugar Refining 6s and rborough Rapid Transit refund- lWashington Stock Exchange SALES. 63 A—$100 at 104';, €3 B—S$100 at 105, $100 at 3 . & E. 45—$1,000 at 84, $1,000 t 84! Baiber & Ross 6125—$1,000 at .83, | Capital Traction Co.—5 at 87, | Wash. R. & E. pfd.—10 at 963}, 5 at | 96%. | Coml. Natl. Bk.—10 at 240. Linotype—5 at 108, 5 a 108, 10 at 108, e 3 D2nk of Bethesda—10 at 63. Ref. & Whrs. Corp.—10 at 48. AFTER CALL. Elce. Cons. 5s- Bid and Asked Prices. BONDS. PUBLIC UTILITY. 133 + 114%% | potoma 103% 9914 4 10416 o 1061 67 103 4 100% 95 110% 55 27 104% 4 109% 857 9% 7% 109 110% 27 ki 95% 106% 5914 971y 9915 106 105% 101% 82 0% 1124 894 9814 97 106% 103% 1087 100% 103% 9914 104% 106 67% 103 106% 1031 108% 100% ol i 1001 101 . 8574 9% 7% \ Balto. ington Gas [<} 85. series Al s B Wash. Rwy. 6. serie: & Elec. 45 MISCELLANEOUS. Barber & Ross, Inc., 6' Cham.-Vanbit. Hotel 6 Chevy Chase Club 5'as D. C. Paper Mfg. €s.. Joint Stock 1d. Bk. W. M. Cold Storage 35 Wash. Cons. Title 6s. STOCKS. PUBLIC UTILITY. Amer. Tel. & Telga, Capital Traction Go Wasrangton Gas Tight. N & W. Steambe fo. & Annap. coi Wash., Balto. & Annap. pfd NATIONAL BANK. istrict Federal-American Liberty ) Lincoln g National R Sacand’ [0l National Bank'of ‘Washington. TRUST COMPANY, American Security & Trust Co. Continental Merchants. National St Union T ey Washington Loan' & Tru SAVINGS BANK. Bank of Bethesd: Commerce & Savi East Washington. . mac y Saving Seventh Street. United States. Mechanic Washington FIRE INSURANCE. American Corcoran Firemen's ... National Union. L TITLE INSURANCE, Columbia Title. .. Real Estate Tiile . Title & Inv. of Md. com. aper Mfg. pfd. 3 . Securities ‘pfd merson Bromo Seltzer “A' Federal Storage pfd . Fedcral-American Co ¢t Pederal-American pid. type . Siads ster' & Siorage. 1 oXTans & Stor. pid. | r Linotype. Mige. & Inv. pfd Peoples Drug Stores pfd 1 Est. Mtge. & Guar. pf Wash. Medi, lul';f:' C sh. Medical Bldg. Co Woodward & Lothrop pfd SILVER QUOTATIONS. NEW YORK, February 5 (#).—Bar silver, 43%; Mexican dollars, 321, Sale . Low. StP & KCShL 4%s. o e clg::i Seab A L 4s sta 66 66 Seab AL ref Seab AL con6s. ... SBAIlFla6s35A. Sou Pac clt 4s Sou Ry gen Sou Ry 6%s. Texas & Pacific 1st. Tex & Pac 63 B 1977 Tex & Pac5s C 79, Third Ave ad) b: Tol Tr L&P 5%s 30 Unlon Pac 1st 45, Union Pac 4s 6! Un Pac 1st rf Union Pac 4% Virginia Ry 1st Wbash 4%s 78 rets Wabash Wbash 68 76 B. Whash 5% 76 West Maryland 4s. West Md bles 77, West Pacific 5s. West Shore 4s 61. .. Wilks B&E 1st §: