Evening Star Newspaper, December 2, 1930, Page 15

Copper, Steel and Insurance 3 Shares Lead Upturn in Market. BY JOHN A. CRONE. Special Dispateh to The Star. NEW YORK, December 2.—The curh market turned active and higher at the outset today and continued the trend American Superpo gain, fell back to its previous final price. Cities Service was up a shade, but was * rather inactive. The, - betterment in .copper prices, firmjng in steel quotations and a - up in insurance sales were duly reflect- ed in their respective securities in the forenoon session, during which sales + totalled 206,300 shares, against 175,800 in the same period Monday. Newmont Mining, up more than a point, and Noranda Mines, up more than a half point, led the upswing in the red metal issues. United Verde Ex- tension and Hudson Bay followed. Bunker-Hill Sullivan, a silver producer, by & decline of 55, fell to a new low for the year. General Alloys, off 4 points, was an exception to the general trend of steels. Richmond Radiator preferred advanced more than & point, and Brill Corpora- tion A behaved similarly. Glen Alden Coal jumped 22 points in a few sales. Diamond Match rose frac- tionally following a report that the committee had received within 800 shares pf the necessary 97 per cent to put into effect the proposed recapitali- zation and reincorporation plan. Time for deposits has been extended to De- cember 8. Two weak spots in the public utility division appeared about this time. They were New E‘Agl&nd Public Service prior ne‘n ‘71'1":“‘ 6 points, and Tampa Elec- tric, off 3. Food shares provided some activity in the noon hour as Swift & Co, and General Baking preferred, along with ‘Mead-Johnson, moved to higher levels, while . Willow Cafterias preferred de- clined more than 2 points. The Ford shares, especially Ford Motor of Can- ada A, featured the motor group. Later Ford Motor, Ltd., headed upward. ce:Co. of North America, the oldest fire insurance company in this country, was the early leader in the in- ce up. Gleme'rm Combine Harvester, with a drop of 2% points on its first few trades, hit & new low for 1930. Deere & Co. was inactive and unchanged. INVESTMENT TRUSTS NEW YORK, December 2 (#).—Over~ the counter market: er Founders 6% D! Amer Founders 7% Amer Founders Conv bl util & . Low. Noon. v 9T 9% 6. 103% 103% 1 9% 9512 95% 83 681 993, FEH i § 313 QBERZREEER ..gg:,,,fisfi REEeE E8angiol SEEEE 258232§:.'§===§t:t= :assg 3888 29000001 £ \ t Inter Brdg 1s | iquesne Gas 6s '45 t Ugilit Inv 5s''54 P& L 55 A 2030 7oy PR 93 9 19% ower 55 (67 991s 983 Trunk 6'as '35 107%s 107% St Ul s A '56 98 Rubber 8145 ‘38 68% S8 ot ariie- et ames e s e Eaiorn s P ot E°§g £3 81 59 632020, 103% Dms 3 2000 i Pr Blas '38 8434 jthw Nat G 65 '43 691, 69 ' thw P&L 6s A 2022 1913, 1013 1014 Stalev Mfe 65 42., 91" 97 Stand Gas & E 65 '35 100% 1001, 100, Sta 65 51 €315 9915 99! 72 13 e 13 VS A4 RSN At 2 1% Allegheny Gas. Allled Mills (8 5% Am Foundrs (b4-70 74% Am Gas & El (31) 1% Am In 4% Am Inve g 40 AmLt& Trac (2%) % Am Marieabo. 10% Am Superpowr (4 $% Am Ut&G (B) (35¢). 4% Ancher P F (b10%) 4% Ark Nat Gas (A)... 100 ArkP&Lpf (7). 4% Asso El Ind Ltd 30c 17 Asso Gas & Elec, 167% Asso G&E A (at2.40) 5 181 1 7 X 7 1 23 5% Asso G & El ctfs (8).150s 1% Asso GRE (A) dbrts 4% Atlas Utfl Corp. 1 Atlas Utilities war. . 5% Auto Vot M ev pf pt 22 Aviation Cor of Am. 1% Bahia Corp... 1% Benson & Hee 3% Blue Ridge (¢ 30 Blue Ridge v Bohack (HC, 5 Brillo Mfg (30c). . 85 Burco Inccvpf (3 2 Burma Corp (t31c, 6 Butler Bros (30¢) 14 Cable & Wire B rets. % Cable Radio T vte 80 Can Hy El 18t pt(6). 100 2% Canada Marconi 3 Carib Syndicate. 161 Cent&Swn Ut pl(b6). 143% Cent Pub Sve A a1.76 8 Cent St El (k40¢)s... 70 Cen St Elcv pfn(as) 6% Chain Stores Stock. , 20% Charis Corp (18).... Chat Ph Al nv (60e¢).. Serv (g30¢)... T4 Clev Tractor (1.60). 5% Col Ol & Gas vte. 20% CobPlet vtc (£1%) 1% Com & Sou war. 8% Com Wat 8v (b6%). % Comstock Tunnel. ... % Consol Auto Merch. . 2 Consol Copper, 82% Cons Gas Balt ( 10 Consol Laundries(1) 4% Consol Retail Stor 8 186% - on » = T 00 N0 00N 00D i 08 00 N D o TSIV P JOTAINS- ST T 1 49 Cont] Share cv pf (6)200s 4 Cord Corp........ee 42 Cor& ReypfA (6)., 3% Creole Petroleum. .. 1% Crocker Wheeler.... % Cuban Cane propt w. 16 Cuneo Press (2%)... 4% Darby Petrolmn (1) 10% Davenport Hos (2).. 2 Duval Tex Sul wi. 14% East St Pow B (1)... 43 Eisler Electric Corp. 38% Elec Bond & Sh (b6). 91 El Bond & Sh cu pf 6. 102% El Bond & Sb pf 6. 12 Elec Pow Asso (1)... 11 Elec Pow Asso A (1) 19% EI Pow & Lt op war.. 9 . Elec Skareholdg (1). 1% Empire Corporation. 31% Emp Pwr pt (14.60). 10 Emp P Ser A (al.80) 3% Empire Steel Corp. .. 1% Furop Elec deb ris. . 8% Europ E Ltd A (60c) % Evans Wallow Lead. 1% Fabrics Finishing... 4 Fansteel Products 10 Federat Met (1% % Fiat Stock deb rt 11 Fiat rets (1.25) 18% Ford Mot,CanAt: 10% Ford Mot 1,td 37 je. 3 Foremost Fabrics. . 2 Foundation For Shs. 214 Fox Theater Cl (A)., 14% @Garlock Pkg (120).. 6% Gen Alloys (80¢).... 6% Genera tion 1% General Baking. 27 Gen Baking pf (3 35 Gen Capital Corp. ... 9% Gen E Ltd ret (50c). 11% Gen Empire Cor (1), 26 Gen Petrolenm wi 9 Gen Theat Eq w.1. 32% Gen They pf wi. 12% Gleaner Harvn (2),. 53 Glen Alden Coal (3) 6% Globe Undwritrs 30 % Gold Coln (new) 3 Golden Cente Horn (A C) 1st pf. .. Hudson Bay M & S. . Humble O1l ($2%) Hvdro Elec Sec (2).. Hygrade Food Prod.. 4 Imp Of of Can (60c) Imp Tob Can (35¢)..: Ind Pipe L new(13). Ind Ter Illu Ol (A).. Ind Fin ctfs (b10%). Insull Ut (tb10% %) InsCoN Am (13).... Intercontinent Pet n Intl Hydroev pf 33 . int Petroleum (1)... Internat Products. Internat Super (f1). Int Utllities A (33). Internat Util (B), .. Int Ut!l war (new).. InterstateEquities. . Interst Eq cv pf (3), [talian Superp (A).. [tallan Superp war.. Kirby Petroleum. ... Knott Corpn (a1.60) . Kolster-Br «Am Sh). Lake Sh Mines(t1%) Landay Brothers. ... Lefcoirt Real 1.8 Lefcourt Real pf (3) Leh C& Nn (1.40 LeonardOlil. Lily Tultp Ci 4 5 1 P B A T ) 1Y T e w PETEISIVPES- S 1 P - R TR ST ol % 34 13% 5% % L Prev. 1930~ Received by Private Wire Direct to The Star Office Stoek and High. Low. Dividend Rate. 58 31% Long Isld Lt (55¢c) us n Plus 8 4% 4% 184 Nat Pub Sv A 3% Louisiana Lan 8% Hullr;llom e e @ SranlrnasmunRiEnRama N Mount Prod (1.60). Nat American Co Aviation. . Nat Bond & Sh(75¢). Nat Fam 8 (b10%) Nat Investors. - EXTRNST PRSI Nat Rubber Mach(1) Nat Sh T Sec A 150c. Natl Stl Car, Ltd (2). 50: Nat Sugar NJ (2). at Transit (1), Nat Union Radio Nelsner Bros pf Nestle Le Mur TR TICITS N Y Hamburg (2%). 2 N Y Tel pf (6%)....1258 9% Niag-Hud Pow (40c) 55 Ni Hud Pow Aw.. 7 % Niagara Sh, Md(40c) Noranda Mines (2).. No Am Aviat A war.. Nor & So Am Corp A. Nor Europ 011 Corp. 6 Nor Ind Pwr Sve(6).200s Nor St Pow A (8) 2 Nor 8t Pow pf (6 N W Engineer (2). 1 Ohlo Copper. ... 1 Okla Gas & E1 pf(7). 50s Overseas Secur (1).. Pac G&E 1st pf (1%) Pac Pub Sv (1.30)... Pac Western Oil..... Pandem Ofl Pantepec Oil. Paramount Cab Mfg. Pennroad Cp (20¢).. 4 Penn-Mex Fuel (3).. Lenn Salt (5)....... Penn Wat & Pow (3) Petrol Corp war. .... Pilot Rad Tube (A).. Pitney B P n (20c)... Pitts & L E (110) Plymouth Ofl (2).... Prince & Whit (25¢). Prod Royalty (f1)... Propper McCallum Prudential Invest. .. Pub Ut Hold (50¢) .. Public Util Hold war Pub Ut Hold xw.50¢. Pure Ol pf (6)...... R R 8h Corp (25c)... Rainbow Lum Pr A.. Rainbow Lum Pr B Red Bank........... Reeves (Dan'l) (1%) Reiter-Foster. ...... Rellance Int (A). Reybarn Co. .. Reynolds Invest. ... % Rich O1] Cal pf (1%) Rich Rad cum pf Roan Antelope Min Rock Lt & P (90¢c) . Rossfa Int Corp..... Royalty Cp pf t1.70.. Safeway S w(2d) (C)110s St Regls Paper (1)., 17 Salt Creek Prod (2) Saxet Co. Schift (Th Schl & Zan pf (3%) Schuite Real Estat, Seaboard Uil (50c. Sec Corp Gen 40¢) Sex Lock & H (50c). Selected Industries. Selec Inall ctfs(43%) Select Lnd pr (5%).. Sentry Safety Cont Seton Leather (1). Shattuck Den Min. Shenandoah Corp. Shenandoah Cp (a3). Silica Gel ctfs. % Smith (A 0) (2). Solar Refining. Sou Penn O1l (1214 SoCal EdpfA (1%). Southern Corp. S W Gas Utilities Spanish & Gen (B) Standard Motors. ... Stand Of1 Ind (2%, Stand Oil of KY (12) Starrett Corp. . Stein Cosmetici Strauss Roth Stutz Motor Car. Sun Inv..... Sun Inv pf (3). o @ S . a B N T TS Tt 1 T-F TP I ey N - S ~eortn Hene acSnunmaarnuderedacd i nans wBeon~SSkn Sannonnn8RaakemarEroaten wa Swift Intl (13%) Taggart Corp (1) Tampa Electrio ( Technicolor Ine - Trans Lux DL P, Tri-Cont Corp (wi Tubize Chatel (B Unien Tobacco. . Utd Carr Fastener. 4 Utd Corp cwar) . . Utd Elec Sve (1.4 Utd K1 Sv pr war Utd Found b2-35 sh. P ) US Dairy «A) (5). U 8 Dairy (B). U 8 Elec Pow ww U8 Foll (B) (1). .. 8 Gypsum (12.10) U U u C US&Oves U 8& Ove: Utd Stores. 8 Lines f « Utility & Ind. Utllity Equiti Vacuum (143%).. Van Camp Packing Venezuela Petrol. ..., Vie Finan Cor (40¢). Walitt & Bond A 2).. Walker (H) (1), Watson (J W) Co. Wayne Pump. . Wli-Low Cafeteria pf Winter (Ben)) % Yukon Gold. .. 8 Zonite Produc in stock. Close. 8% 5% 9% 5% 5 40% 8% 10 17% 184 1% 3 3 1% 22 93% 2 95 80 96% 50% 58 26% 115 1% 2 % 17% 4 21% 5% 2% 51% 50 10% 3% Y 347 8 140 T 22% 28% 3% 1 U 37 24 91 4% 10% 1% 37 31 33 12 54 9% 5t 25 20% % % 2% 6 1 6% 5% 13% 6! 1% 7 1B % 5% 9% “|at Chicago. {GRAIN PRICES HOLD (F™35 AT HIGHER LEVELS Live Stock Also Maintains Recent Gains—Fruits and Vegetables Steady. The position of dairymen, stock feed- ers and poultry keepers was a shade less favorable in early December, says the Market News Service of the Bureau of Agricultural Economics, United States Department of Agriculture. Food prices were tending higher and such products as butter, cheese, eggs and dressed poultry were moving slowly in rather weak and unsettled markets. But live stock has been selling better, with cattle near recent high points and with hogs and market lambs well above the lowest of mid-November. Live stock and grain are the bright spots of the market. Pruits and vegetables at least fully hold their own as a group. Cabbage and sweet potatoes advanced and even the onfon market is doing a little better. Potatoes are selling higher in most markets. Advances in potato prices near the 1st of December ranged from 5 to 20 cents per 100 pounds at shipping points, compared with recent low points. The Western New York f. o. b. market on sacked round whites was slightly higher at $1.45 per 100 pounds, sacked, with shippers of Green Mountains in North-. ern Maine getting $1.30 to $1.35. Celery Prices. Celery advanced at Western New York points to & range of $1.75 to $1.90 per two-thirds crate and city markets were firm. Cold storage Baldwin apples were firm in Western New York at $1.45 per bushel. Lettuce, also, was firm to high- er in terminal markets. Onions followed the upward trend of other vegetables and held a stronger market position. Cabbage advanced in Western New York to $15 per ton bulk, or $17 to $18 sacked, representing a_rise of $4 to $5 over prices of mid-November. Florida and Southern Texas .have started shipping cabbage. Best yellow sweet potatoes from Virginia advanced to $2.50 to $4 per barrel in city markets and Tennessee {;l:xnhc}; Halls - brought $1.40 to $1.65 a Bean markets were slightly irregular in late November, althoygh fluctuations were not great. The Chicago market showed even greater dullness than re- cently. Jobbers were quoting choice hand-picked pea beans at that market at $5.40 per 100 pounds. Interest in the butter market is prin- cipally for the top grades, which find a fairly satisfactory demand. Medium and lower grades are in plentiful sup- ply on all markets and buyers find it comparatively easy to satisfy their re- quirements for this class of goods. The smaller plants in the intensive dairy sections are expected to show slight increases in production during Decem- The sweet cream supply at the larger consuming centers is ample and many Western shippers of cream are churning butter. Cheese and Egg Markets. Cheese production, based on Wiscon- sin warehouse receipts, is now running ahead of last year, the out-of-storage movement is lighter than a year ago, and consumption is barely on the same level with that of a year ago, factors that have a continued depressing effect on the market. Trading in fresh cheese at Eastern markets again was light, as is usual at this season of the year. The out-of-storage movement of cheese would indicate a reduction of the surplus in the country as a whole. Egg markets, near the 1st of Decem- ber, were mostly weak, with supplics plentiful and demand moderate. Large white fresh eggs from both nearby areas and the Pacific Coast were especially abundant, and, faced with the possibility of accumulating stocks, dealers were in- clined to make generous concessions to move them promptly. Offerings of fresh eggs from the Middle West were not quite so liberal, but with the market secticns, buyers were conservative in their purchases of Middle Western mixed colors. Ungquestionably, some of the increase in egg receipts was due %|to an earlier lay of the young stocl this year. With the relative scarcity of hif quality turkeys, dealors reported © difficulty experienced in clearing vl.;l’sy their stocks of such birds at firm Em Some difficulty was _encounteref 11 handling the large supplies of thelWet ! quality stock, but with the grapf€ of libcral concessions, practically # 3":: stuff was moved prior to ThaSglV! ] day, so that only a relatiw/ sma flxmun{ was left over to ) sent to e _coolers. The dressed beef marit failed to keep up with late Novemdé -d\z’nm in live cattle, leaving the darket in a weak position. Most comgercial b and yearlings brought $90 to $12. 'At the engof November, hog prices, at Chicag, showed n°t gains of mostly 15 to # cents over the lowest of the month &t the price ievel still ranged about & cents below the month's highest. Other Cnny:""ly Plrlee: i /hicago Jamb marks wenhe, top In. the/ the end of Novem- | ber. which was Qe highest since early | I ths month. dressed prices improved | materially, ay packefs’ stocks wers | depleted, sing all interests havc been | operating yesntly on a hand-to-mouth basis, Sipiar advances in ihe live lamb trad/ in the. Fasl always - have | attracteg srger receipts, and there is| more og #s speculation s to the cfiect of thy gurrent upturn. The Boston | Wool 'Warket was largely anchanged | aro 2 first of the month. | t markets were unsettled in' la November, but a steady demand for oderate offerings of coarse grains raigthened the corn and oats mar- 1;‘& and prices for these grains tended | 'skghtly upward. middlings and shorts were in betler demand and prices ad- vanced generally 50 cents to $1.50 per ton in Middle Western and Eastern markets. Supplies of cottonsced ra:al have been generally light as the seed movement has been slow. Heavy move- ment is report:d to the drought area, although the adverse financial condi- tions were not permitting os heavy pur- chases as generally were expected. Linseed meal marksts were barely steady. The gluten feed and meal sit- uation continues about unchanged with a fair demand. Timothy hay markets were l'ghtly supplied in early December but demand was limited and prices were gencrally unchanged. GRAIN MARKET CHICAGO, December 2 (Special).— ‘The wheat market was a fraction higher today on buying caused by the strength in Liverpool. The market was higher on reports of light frosts in Southwest Argentina, but the Buenos Aires market was 3, to well supplied with eggs from other | ANCIATL. CIAL DISTRICT PUZZED WEAKNESS IN BOND "RICES f Only Highest Gt;ade Issues Haé Main- tained Steady Market—Econotic and Political Factors Arouse Pegmism. BY JOHN L. COOLEY. Assoctated Press Pinancial Writer. NEW YORK, December 2—Ome of the biggest disappointments of the financial year has been the recent be- havior of the bond market, which has stubbornly refused to move according Gty pecuriiy ly securities of the highest grade have been popular, and the’fe, wltgn the exception of United States Governments, are selling well under their year’s highs. ‘That the market has gone down when experience suggests it should have gone up 1s due to a variety of circumstances, but they can probably be boiled down to three words: Lack of confidence. Such a state of mind, of course, exists in all depressions—especially in their later phases. But its effects have usually tg:plp:dhbgr;ds‘;‘or 'ltt L!k almost axiomatic vhat is the stock market's poison is the bond market's meat. = Sentiment Pessimistic. However, the world-wide deflation in progress for more than a year has been attended by numerous unusual happen- ings, investment bankers point out, and these have offset such heretofore reliable influences as cheap money and a desire for conservative investments on the part of a public that has tasted defeat in stocks. Economic unsettlement in various ts of the world, it is pointed out, has been accompanied by political disturbances which in some instances have flamed into actual revolution. hardest hit by such occurrences, and, although extensive recoveries promptly followed the passage of those crises, the effect on general sentiment was most unfortunate from the standpoint of the bond market. Furthermore, the wide break in the German interna- tional loan, floated last June, has been disturbing. Selling of this bond, bank- ers believe, has In this connection the Bl National - Cif “There has apparently been & wi Although foreign bonds have been | pe: the postponable ‘would have no bear- rnl.;n l}l::mluu e e numerous_staf ts financial leadq both here and abra ption of the situa. investmentjotably United States Gov- ernment sqrities and short-term notes. This tend€y, reflecting in part a dis- put money out at long- ent, is also noticeable in ce of funds offered in the New Yof call-money market. Bonds have negsarily suffered. Difficfes of country banks and of securities” held as -col- loans have been other fac- tors wi Londs | confidently expected carlier in the yf. Also, the long decline in railrogearnings has caused many hold- ers ofhose obligations to become some- vhat/apprehensive. - Savi banks havefen wondering whether their rail- roagponds would remain eligible in- vestgnts under the law, although it is BUSIESS LEADERS WATCH CONGRESS Session Expected to Pass Important Legislation Af« fecting Economic Situation. BY J. C. ROYLE. Action of extreme importance to busi- ll;emu'khm“ghmt;: the Unl:ed States may en by the present Congress, de- spite the fact that it is a short session. Leaders of botH major parties agree that unemployment is the most press- ing problem which faces the country and declare no time will be lost in con- sideration of legislation which will tend to solve it for the immediate future and prevent recurrences of its ills. This in g:e" "lllhbe‘l prime factor in business, cause buying power depends directly on earning power of workers. Farm Board Funds. Congress will be asked for ap, ria~ tions for use of the Farm Board in sta= bilizing agricultural prices and market= ing and to provide aid for farmers in drought-stricken communities who lack seed and other essentials. The entire marketing of grain, cotton and other commodities may be changed by accept- ance of the plans ol some members of Congress to check or prevent de: futures. The legisl provide for “hedging” by manufacturers in order to protect themselves in the purchase of raw materials, but even the methods of doing this may be altered. Muscle Shoals plans will be considered and if brought to a conclusion may tend to establish a precedent as to the part elieved that as a result of the earnings statements recently few cafed bonds will be stricken from the lign New York State, where require- ts are very rigid. he many unfavorable influences at d the stimulation given to bonds the purchases of commercial banks, ich, as the market's best steady cus- mers, have added heavily to their oldings during this era of phenom- ally cheap money. These holdings, Dbankers point out, will be held untii it is possible to get larger returns else- where; in other words, until the busi- ness revival becomes a fact. By the Associated Press. NEW YORK, December 2.— which had joined the ranks employed with the closing ball season_blundered onto the Stock Exchange yester den the hearts of traders been quarterbacks. It appeared toward tly close of a session in which trading/ed dwindled close to the vanishingpoint, leaving most members of the e/lange with at least a_gloomy- feelln of joblessness. The ball was quickyl sent whizzing around the trading fsts, as younge: members tried a feyfancy drop-kicks, jeopardizing the ear@f such traders as were still earnestly/ndeavoging to ex- tract a commissiofOr 8 meager profit out of the speculive apathy. Shouts S “Block thae drowned out the buza of trading. ull day since August 1 e){cep;&nn{, sl:'me Jurhe. 3 e trend of prices, trad- :?,” hndMu' to_complain of. Stocks qtly higher, and the bull ys the popular cause. Al- cause 18 oo gained $5.75, Norfolk & Western, Missouri Pacific and Union Pacific $3 1o $4, but most net gains were limited to $1 or $1.50. Pickings were slim, and newer mem- bers, ruefully comparing prices paid for their memberships up to $500,000 with current prices of half that, were glad of a reminder of happier days. Ma; graduates from the gridiron to the trading floor have received wallops in the bankrool more painful than the hard knocks received in line plunges. Stock trading has at times assumed the aspects of actual physical contest. T{ When an excited crowd is milling about a specialist in a very active issue, it is often difficult to get near enough to make a tiansaction. One well known trader once got to the center of the crowd by crawling on his hands and knees through the I of the throng. Even in busy markets, however, the trading appears to the opserver in the visitors' gailery as a routine, quiet and anything byt exciting process. - Meta~ phors about bulls and bears bring to mind pictures having little relation to the actual scene. Rarely does horse- play which migit be noticed from the gallery, such as today's foot ball kick- ing, enliven the proceedings. REPRTS OF STEEL MRGER GAIN GROUND ofiferenu in Pittsburgh Revives | Reports of New Bethlehem Hook-up. y By the Associated Press. PITTSBURGH, December 2.—Recur- rent rumors of possible acquisition of McClintic-Marshall Co. by Bethlehem Steel, which would mark the latter's first direct entrance into the Pittsburgh district, gained impetus yesterday, as Eugene G. Grace, president of Bethle- hem, conferred here with McClintic- Marshall officials. Charles D. Marshall, president of Mc- Clintic-Marshall, would not deny that the negotiations were in progress and would say only that nothing would be given out officially before tomorrow. Other structural steel fabricating companies here which have been men- tioned in similar reports are Harris Structural Stcel and Hay Foundry & Iron. Officials’ of - Jones & Laughlin, the McKessport Tinplate Co. and Pitts- burgh Steel denied Sunday that they were in any way involved in a report that Bethlehem Steel+is preparing to| embark on an expansion program which | would increase its assets approximately $700,000,000. | ‘The nearest plant to Pittsburgh now | controlled by Bethlehem s at Johns- | town. Grace arrived here by rail in a private car, accompanied by F. A. Schick, con- troller of Bethlehem, and R. E. Mc- Math, sccretary. CHOCOLATE COMPANY IS | 150 YEARS OLD THIS YEAR Special Dispatch to The Star. BOSTON, December 2.—Walter Ba- ker & Co., one of the divisions of General Foods Corporation, is now celebrating its 150th _anniversary. The story of the building of one of America’s oldest business enterprises, which was a going concern even be- fore Paul Revere's celebrated ride, ap- pears in the current issue of General Foods Magazine. High_lights in the histaty of the Baker Co. are the story of its humble beginnings, the entry of the product into the field of national advertising and the origin of its familiar trade ‘mark. STOCK AND BOND By the Assocl: By the Assoclated Press. NEW YORK, December 2—Retall turnover was aided by lower tempera- tures at the week end and consumer buying of both seasonal and holiday merchandise was the best in several weeks, retail executives reported. The; sald that Christmas shopping has defi- nitely started, with the ?rend being to- ward medium and popular price utility gifts and toys. The outlook is for fairly brisk activi o' B ty during the week, they Wholesale furniture orders fell again last month, due to the slow condition of general business, manufacturers and sclling agents here said. Prices con- tinued weak, with a slight firming claimed in a few holiday kitchen and upholstered furniture lines. No upturn is expected before the first of the year. Group meetings in which buye: particular lines can discuss '.hv.y:lr"pézz culiar problems will be a new feature of the annual convention of the Wholesale Dry Goods Institute here January 20-21. Improvement in retail business in Wwomen's wear coats has been reflect- ed in a better inquiry at mills for spot lots of crepe broadcloths, tricots and spongy woolens. ‘ Stocks {carried by re- tailers are so light and sales so large Saturday that many selling agents ex- pressed the view that stores will be forced to replenish depleted stocks be- Conts e Wit gt Bt S eT: es o the colder weather, ~ oo due In an effort to stimulate trade inter- est, leading manufacturers of soft sur- face floor coverings have cut prices from 10 to 25 per cent on carpets and rugs. Reductions were announced as the Spring season opened this week and met with a good response from buyers. —_— NEW YORK COTTON NEW YORK, December 2 (Special). —Cotton contlhued its dectine at (he opening of the market today, with initial losses of 5 to 8 points. The sell- Ing was fairly evenly distributed through the list, the still persistent trade pur- chasing having but a slight effect in near months. Opening prices were: December, old, 10.28, off 5, December, new, 10.29, off 6; January, old, 10.40, off 8; January, Lot nMew. llggg, og 78:"?1;“11. 10.65, off 5; ay, 10.89, off 7; » 11.04, off 7, October, 11.25, off 5. v AVERAGES lated Press, . From Yesterday's 5:30 Edition. STOCKS. Today. Previous day ~Week ago....... Month ago. . Year ago. i 0¥ |an investigation of the Government can or will play in the field of power production, ll’loyleflsln- tion at the moment is expected which will directly affect the production of electric power, but investigations of the utility companies will undoul pc:l"‘p%':::r :;1;:‘ '-hem'g‘"?f‘r‘“blm of su~ ms a dragged efinitely known that the 53 state Commerce Commission is ?éfi;- mined to ask Congress for increased Powers and a broadening of the scope of its authority. The commission's plans for railroad consolidation are depend- ¢nt to some extent on such a broaden- ing, it is held. On the other hand is bitter opposition to the consolidaf by some Senators and Representatives 2nd since the railrgads have an exte sive program of changes in regulation which they hope to have put into effect, the whole subject takes on the utmost importance, in a business and invest- ment sense. It may be broads include legislation :glec! y oom .; oy Security Exchanges. e operation of securit; changes may come in for m’r::e -t{enunnn. and olding is sure to be on the m. The trend toward expansion into by-prod- out of corpo= ucts and the rations into complete units will bring While Congress is in session courts will be passing on cases hel’: next March which will establish dents in many of the newer tries that may later form the basis for legislation, and may change the plans of whole industries, These cases include radio patents and broad= al:;lon of the remun.m of food m: NEW CAMPBELL SOUP PLANT FOR CANADA !'pu'r((;‘lz Dohnuteh to The Star. NTO, Ontario, 2~ Announcement was Mneee;nmbn last night by the Toronto mission that the Campbell Sou) Slmdm{l N. Jc, has formed a orporation, Campbell its " executive oflgu lnm have arranged to purchase 15 land in New Toronto, a suburb city, where it will build a make its products for the market. An official statement from C. B. Annett, assistant to the PRt 280, to 50D pepis, snthe, Be¥ o people, - cording to the season. g‘m.u is the l:‘h s;tl t:gdltsl;’):l"_w Toronul;': list of ni es companies with planf here. There are ”p; concerns in 'n: ronto associated with United States concerns, three times as many as in any other Canadian city, an quarters of this total represent actual manufacturing establishments. DIVIDENDS DECLARED NEW YORK, December 2 (#).—Divi dends declared: Pe- Pay- Rate.riod. able. Company. Regular. Allied Laboratories Inc cony P! Amer Hosiery ‘G0’ 2 Am Supernow Ist pf.31.50 Q Jan. Do_36 p.. 150 @ Jan. Am Wringer Bobn. Refric »f. Ca an B LA Eai® 2085EaE| drs. of e SRREEE S BRLENEEREE Do T Br B Colonial Chair Bi’ East Hartford Tr' G Eastern S § Lines Do 1 e tEEH oy o sstn I 7y FRFERERNRRTINRY FYOY: Kansas Lackaw 4% gtd Liberty Bk & Tr (Louisville, mg Island Li f Ser A.. Power Corp o T e pr. Pt pf. . Public Ser Co of Okia, CJAL PRODUCTION. lated Press. te L 1% 4 5 on of soft coal declined 8.5 : , 80%. After the first half per during the week ended No- |hour: Dec>mber, old, 75%;: new, 75%: vem| 22, as comj with the | March, old, 78%; new, 78; May, old, prevpus week. The output, for com- |797; new, 80%;. parple periods, as calculated by the orn was higher with wheat. Decem- Byeau of Mines, follows: ber, old, opened 764 to 7612; new, 7614 Oyot e betroieum Fefning. inusicy | L tobs: previous, week, 0,118,000 net | 1351 May. oid. 80% 1o 81; new. 81 45 e eum lusf e i previ week, 9,718, net | 793 ; May, old, % to 81; new, to °°'W':n has been ved dons; same week last year, 11,173,000 (813 After the first half hour: De- i1} 'net tons. o;r'nber old and new, 767;; March, old, 19%2: A INVESTMENT TRUST FUNDS WIDELY DIVERSIFIED Epecial Dispatch to The Star, NEW YORK, December 2.—The ex- tent to which the funds of large in- vestment trusts are actually diversified TWO years ago.. ‘Three years ago, weekly aver High, 1930. . Low, 1930..... High, 1929...... Low, 1929. cific, 95; Standard Ofl (New Jersey), 85; Eastman Kodak, 79; A. T. K and so on down to F. which has 6, and Ing: MONOPOLY IN OIL. BANTIAGO, Chile, December 2 (A).— opened 75; new, 75% By the 7 Prod| 53 ¥ ¥ ¥R 00 YO IEOE Y O METAL MARKET. NEW - | 37 new, After the first e et oot aad Tuvase, | hour: December, old, 35%4; March, old, cts | 773,012, L easjer; Canadian_Gen Hygrade Lamp. 58 BooRRSUSESS ¥ 5 BEBER 555 88 S538. 55 N5E & o 55558 i ERRREE Initial. Tron “i"?y old and ltl‘!'. 38. Std Roy Wanetta pf.1% M Dec.15 Nov.30 ‘spot ns were firm. —_——