Evening Star Newspaper, December 3, 1930, Page 15

G_STAR, WASHINGTON, D. C. WEDNESDAY. DECEMBER 3, 1930. NEW YORK CURB MARKET |CALIFORNIA FRUIT | BRINGS GOOD PRICE High. Low. D.vidend Rate. 12 2% Lakey Foundry.. Co-operative Marketing Or- ganization Protects Grow- PINANCIAL < CURB SHARES SAG { ASVOLUNE GAINS Early Uncertainty Gives Way to Lower Tendency in CHICAGO, December 3 (#) (United States Department of Agriculture).— 25,000 head, direct; fairly active; mostly 10al Received by Private Wire STOCK AND BOND AVERAGES Direct to The Star Office bl ot - From Yesterday's 5:30 Edition. Stock and Sales— Note—All stocks are sold in one hundred-share lots excepting those designated by the letter s (80s) (2505) Add 00. OD;& High Low, Close. which shows those stocks to be sold in odd lots only. 2% 2% 2% —Prev. 1030.~ Stock and Sales— High. Low. Dividend Rate. Add 00. Open. High. Low. Close 23% 6 Aero Underwrl 1 1% 7 T T 3% % Aeronautic Ind war. 20% 10% Affillated Prod 1.60.. 33% 5 Alnsworth Mfg (1).. , 140 50; light-weights, 160-200 pounds, “'medlum - weight, 200-250 .‘gi heavy-weight, 250~ unds, 8.1528.50; SOW: medium and good, 215-&00’;-::: . 50% 24% Leh C& N n (1.40). % % LeonardOil.. Liberty Baking. ) Lily Tulip Cup (1%) Lion Oil Ref (2). Lit Brothers. o ) 16% 6% 25 Two years ago 204.1 +» Middle West Utilitics, American Super- Later Dealings. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, December 3.—Breaking through the mixed tendencies at the “ opening, today's Curb Market slipped to lower levels as trading slightly in- The leader of the power and light di- visions, Electric Bond & Share, was off nearly a point by midday and so was Cities Service, one of the pivotal petro- leum issues. United. Light & Power A, power, American & Foreign Power and similar market leaders also softened. Coppers firmed on increased activity, food shares moved erratically, motors crept upward, petroleum and natural gas shares eased, and miscellaneous in- dustrials recorded wide fluctuations on small turnovers. In the forenoon ses- sion, during which sales were 224,700 shares, against 206,300 in the same Tuesday period. Food shares were highly erratic. Rath Packing dropped about 15 points. ‘The company, packer of pork and beef products, recently declared it had not been affected by the drought, but its earnings, like many corporations, were B}k)ley lower. Swift & Co. was a trifie er. Horn & Hardart, operators of auto- ' matic restaurants, rose 13; in response ,. to rumored improvement in earnings. Liberty Baking was down a point, while United States Dairy A rose fractionally ‘Grocery Store Products, Inc., was off a " small fraction and so was Great Atlan- tic & Pacific. Store and chain store stocks, despite a seasonal attempt to bring buying into such issues, behaved similarly. Straus, Roth and United Stores were up some- what, but consolidated retail .stores, na- tional family stores and most of the others of the group were lower. Responding to improved profits, Bour- jois Inc., advanced. Elgin National Watch fell 514 points to a new low for the year. Vick Pinancial Corporation was quite active, one block of 5,000 coming out at 575. Declaration of an initial dividend of 25 cents quarterly on Graymur Corporation common failed :;“hflng about any activity in that e. " SRR ; LARGE TOBACCO SALES _ TO CHINESE REPORTED By the Associated Press. American tobacco producers are find- ing a lucrative market in the present indi=t+tous state of Shanghai cigarette facares. . Meauy gll were working full blast, .22 L7cs a day, during late November, the Commerce Department says, with comditions for distribution gradual improvement. Large stocks of both American and native leaf have arrived or are en route, going into consumption rapidly. Pur- chaces of American leaf are sill confined to the low grades, and owing to the high cost of tobacco and wrapping ma- terial which has been brought about by the raw silver situation the tendency continues toward a cheaper product. ‘The native leaf is blended with Amer- : fean leaf for middle-priced ‘goods. Ef- forts are being devoted toward lessen- ing importation of cigarettes to aug- ment local manufacture. ‘There been a resumption of the ° cigarette trade, which was virtually stopned during recent months by a lock Between large distributors and local authorities in Shanghai over 8 50 per cent tax on imports. This has now been settled with a return to showing the 321 per cent besis. NEW YORK COTTON NEW YORK, December 3 (Special) — Opening ‘cotton prices today weie 4 o 9 points lower. The absence cf trade buying, combined with a moderate volume of new offerings from Southern es, served to drive near months close to Tuesday's lows. ing prices were: December, new, 1043, off 9; Januery, new, 10.53, off ‘ March, 10.77, off May, 11.04, off 7| ,g;ly. 11.20, cff 6, and October, 11.39, HigH, Low Noon. 4158 '@ 973 973 97 num Co 55 '52103'; 103'; 103’3 minum Ltd S 48 993 “98's o8y, > [ - POFERS o ] 990299 3 o i orson B oot & 1 03 ny o515 9514 rragan 85 57l 10745 1029 P &L 65 A 2026 1 102 P& 1, 5 W 9030 8Ty, AT Eng GLE Enr G&E Ene ¢ ¥ Fo In 5ius 47 Rl 50 % Air Investors war.. 1% Alr Investors vte.... +% Alexander Indust... 5 Allled Mills (60c)... 150 Aluminum Co of Am, 71 * Aluminum Co Ltd... 3 Alum Goods/(1.20) 1% Amer Austin Car 5 Am Capital (B) . 28% Am Capital pf (3)... 27 AmCPR&L (A) (a3). 6 AmCP&LB (10%).. 131 Am Com P A (b10%) 10~ Am Cyanamid (B) 64 Am Equitles. 18% Am For Pow (war)., 5% Am Foundrs (h4-70). T4% Am Gas & El ($1). 41; Am Invest Ino (B) 40 Am Lt& Trac (2%), 37 Am Manufactur (4). % Am Maricabo... ... 10% Am Superpowr (40c). 87% Am Superp pf (6). 3~ Am Thread pf (25c). 8% Am Ut&G (B) (35c). 6 Appalachian Gas 5% Arkaneas Nat Ga 4% Ark Nat Gas (A) 167 Asso G&E A (at2 1% Asso GRE (A) dbrts 38% Asso Rayon pf (6)... 5% Atlantic Coast Fish.. 10 Atlas Plywood (2)... 5% Auto Vot M cv pf pt.. 22 Aviation Cor of Am.. 1% Bahla Corp. ... 146 Bell Tel of Can (8) 3% Blue Ridge Cp(p20 30 Blus Ridge cv pf 315 Bourjols Inc. 20 Brazil Tr&Lt 5 24'% Buff N&EP pf (1.60). % Cable & Wire A rets. 1 Cable & Wire B rcts. 21 Cable&W pf rets 19c. 234 Canada Marconi..... % Carib Syndicate 48 Celan ct 1st pf (+ 8 Cent St 1 (k40c) 97 CentStEIpt (7). 16% Cent&Swn Ut pl(b6), 15 Chat Ph A) nv (50¢).. 4 Ch Nipple Mfg (A).. 16 Cltles Serv (g30c)... 87% Cities Serv pf (6).... 3 Clark Lighter (A). 443% Clev El Illum (1.60). T Clev Tractor (1.60),. 3 Club Aluminum Uten 24 Colon Oil.... 5% Col Of] & Gas vte 20% Col Pict vte (f1% % Colombia Syndicat 1% Com & Sou war 4 8% Com Wat Sv (b6%). 14 .Consol Auto Merch 2 Consol Copper. 82% Cons Gas Balt (3.60). 10 Consol Laundries(1) 4 Consol Retail Stores gs Cont G & E pr pf (7). 1 20 Cooper Bessemer (2) 4 Copeland PrincA... 4 Cord Corp. 42 Cor & Rey pf A (6) 8% Creole Petroleum. . 7t Crocker Wheeler 10 Cross & Blk pf(3% 14 Curtiss Wright war. 1% Davton Alr & Eng... 46 Deere & Co (g1.20) 2 De Forest Radio. 43 Derby Ofl Refining. 1% Detroft Alrcraft. .... 11% Diamond Match new. 24% Dia Match cu pf (n). 6% Doehler Die Casting. 31 DressSR(A) (3% 28 Driver Harris new. 2 Dubiller Cond & Ra 4 Duquesne GasCp wi. 1% Durant Motors. 2 Duval Tex Sul wi 19% Fast C & F Aswro. 12 Educational Pic pf. 4% Eisler Electric Corp. 2 14% Cent Pub Sve Aal76 Cont Shares pf B (6) 150s 4 4 38% Elec Bond & 8h (b6). 310 1 Bond & Sh cu pf Tlec Pow Asso (1)... Elec Pow Asso A (1 19% Rl Pow & Lt op war.. 9 Elec Stareholdg (1). 1% Empire Corporation. 81% Emp G&F cupf (7).. 5 Empire Fire Ins. 31% Emp Pwr pt (14.60) . 10 Emp PSer A (a1.80) 314 Empire Steel Corp. .. 221 Employ Reins (1%). 1% Fngineers Gold £ Burop F Ltd A (60c) 1% Europ Elec deb rt 1% Fairehild Aviation. % Falcon Lead. % Fandango Corp. 4 Fansteel Products. . 2% Federal Bakin= Shop 10 Federat Met (+114)., 11 Fiat rets (1.25) : 18% Ford Mot,CanAt2.10. 6% Ford Mot France 28c 10% Ford Mot 1.td 37%c. 3 Foremost Fabrics. .. 214 Fox Theater C1 (A). 6 Franklin Mfe Co. 50 Franklin Mfg of (7). 6% General Aviation 1% General Baking..... 27 Gen Paking pf (2) 53 9% Gen E Ltd ret +50e). 1% Gen Laundry Mach 9 Gen Theat Eq w 1. 3% Gen Thevpf w.i.(3). 15 Gen W WRE A (2) aner Harv n « 4 Globe Undwritrs 30c. % Gold Coin tnew). ... Gold Sea) Elec new % Golden Center. .. #s Goldfield Consol. % Goldman Sach T C Grt At&Pac nv 15.25, 7 Groc Stra Prod v.te.. ard Fire Asso (2). 1O of Fa (1%). Hartman Tobacco 13% Iazeitine Corp (2 8% Hecla Mining (1) 30% Horr & Hard (2% 3% Hudson Bav M A S 68% Humble Oil (¥23%)... 5 Huvler Strs of Del.. 23% Hvdro Elec Sec (2)., 2% FAygrade Food Prod. 15% Imp O1l of Can (60c) 17% Ind Ter I11u O1l (A).. 17 Ind Ter Ilu Of! (B). 814 [nd Fin ctfs (b109,), 60 Irdus Finevpf (7)., 7% Inland Utfl A (1.70). 48% Ins Co N Am (13) 7% Insurance Sec (70c). 7% Intercoast Trade (1) 15% Intercont Pow A (2). ETT IO U I I P S T T S Y T Iopy e 3 13 Gen G&E cv nf B (6) 1008 20% Lone St * 96% 32% % LaP Mangel Marcon Marion 4 Mass U Mer Ch Mesabi Mid St Mid W Mia W Nat Am. at Fan N Y Tel Ntag-H Niag-H Nor & Si Nor Ind N W En, Pac We: Pitts & Plymou Polyvme Poterer 5 Pub Ut % Pub Ut Pyrene Rellancy Select | Smith ( Southld . SW Dai Stand O auss Strauss Stutz M Sunray Swift & Timken Trans L d Mo! U'S Day Utd Sto Walgre: Mavis Bottling Mayflow Asso (22) McCord Rad&Mfg B. Mead Johnson(t4%). Met & Min Inc (1. at Fuel Ga Nat Investors Nat Pow & Lt pf (6). Sentry Safety Cont. . Shattuck Den Min. .. 2 Shawingan W (2%). Shenand > So Cal Ed pt B (13%4). Sou Penn Of] «t2y). 8 W Gas Uttlny, Standard Motors. Stand O1) Ind 12%). Stand Ol of KY (12) Starrett Corp. Starrett Corp pf (3). Stein (A) Co pt 634,260, s Technicolor % Teck Hughe Tran Con Air ‘svan. . ar G: » Lpt (6).. Stpf (6%) 1 | Mar (38¢). Steam Shov til Asso. . e &8 (1.60) Iron.. Pet vtc B Cowi SR o AN ST Mo Kan PL (b10%). % MoKanPLvte..... Moh H P 2d pf (7)... 4 Montecatini deb rts. . Mount Prod (1.60)... erican Co 4 Nat Aviation. . at Bond & Sh(75c). m S (b10%) 1) t Sh T Sec A $50c. t St Corp (war)... Nat Transit (1) Neet Inc cv A (1.60). New Brad O1] (5| ew Jersey Zinc(t3 NY&Hon R 11.37%.. Y Merchandise (1) N Y Steam Cp n w.i.. PE(Bg). ... ud Pow (40c) ud Pow A w.. Niag-Hud Pow B w.. Niagara 8h, Md(40¢) Nipissing (30¢)..... Noma El Corp (80c). Noranda Mines (2) No Am Aviat A war 0 Am Corp Nor Europ 01l Corp. Pwr Sve(6). Nor St Pow A « 4 Nor St Pow pf (6). gineer (2)... Ohto Copper. .. Outboard Mot (A)... Pag G&E 1st pf (1%) stern Oil. Pandem Of1 Pantepec O1l. Pennroad Cp (20c). . Penn Wat & Pow (3) Petrol Corp war. .... Philip Morris Inc. ... L E (110) Pitts Forg (1.60) th Of1 (2).... t Mfg (b4%). o Sugar....., Prince & Whit (25c! Prince & Whit pf (3) Prod Royalty (f1). Hold xw 50c.. Hold (50¢) Publie Utll Hold war Mfg (80c). Rainbow Lum Pr A.. Rainbow Lum Pr B.. Red Bank. . Reiter-Foster Reliable St (b5%). e Int (A)., Reliance Manag. Keybarn Co. Rike Kumhler (2.20). Roan Antelope Min. ., Roosevelt Field Inc. Rossta Int Corp. ..., Royalty Cp pf $1.70., Ityan Consolidated. . Safeway S w(2d)(C) 7 St Kegis Paper (1). 4 Salt Creek Prod (2) Saxet Co Seaboard Sec Corp Gen 140¢) Selected Industries. Selec Inall ctfs(4%) nd pr(5%).. A0)(2). » 3 PPYOE-1 10 TOPRIEE- PPN ST TS PPN Royalty (60¢c) ry Products, _—. i Neb(131%4 ). (Nathan). Koth. . otor Car. Ol (40¢). Conew (2).. Det , k) Crxeimh aN~—amEa ux Tri-Cont ¢ Tubize Chatel (B)... Ungerleider ¥ Corp, Union Am Inve Utd Carr Fast Utd Corp «war) Utd Found bz-35 sh Utd Gas Corpn. ... Utd Gas (war)... Utd Gas ot (). U S & Int Secur Utd Lt & Pow A (1), Utd Lt & Pow B (1), Utd Lt & Pow pf (6). lasses, Litd. Utd Ret Ch pf (335), rY (A) (5). U S & Int Sec 1st (5) S& Over ctfs 28% ¢ \ 3 US Playing Cards(4)150s res. Utd Verde Ex Utah Apex (50¢c) . Ul Pow & Lt «al) Vacuum (14%).. Venezuela Petrol en Co (war). ers in Selling Crops. Special Dispatch to The Star. LOS ANGELES, December 3.—That 1930 should be, in point of cash returns, the record agricultural year in Southern California, while agricultural products in most of the rest of the world are selling below the cost of production, is one of the anomalles of a hectic year that is in itself an anomaly. According to reports received by the California Fruit Growers’ Exchange, Spain raised more oranges this year than California, but the gross returns received by the Spanish growers were only about half those of the orange growers of the Southwestern United States. ‘The Spanish crop, as a whole, de- spite low labor cost, is reported to have scld below the cost of production. The annual report for the California Fruit Growers, whose citrus year closes October 31, sets the State’s gross re- turns from 59,032 California cars of citrus fruit at $135,000,000. This is $16,000,000 in excess of 1929 and $5,- 000,00 ahead of the previous banner year, 1927. While the gross prcduction was less than last year, the higher prices re- ceived by the growers turned a deficit in production into a profit in sales. Total Returns Larger. Nor was this situstion peculiar to such purely reglonal crops s citrus fruits. The cash return from all soil products cf the five counties immedi- ately surrounding the City of Los Angeles for 1930 were $212,060,594, as compared with $207,431,423 .for the same crops in the same area in the best previous year, 1927. These soil prod- ucts included, in addition to oranges, lemons and grapefruit, walnuts, beans, grapes, alfalfa, garden truck, avocados, sugar beets, deciduous fruits, olives, nursery stock, dairy products, etc. ‘What is the secret of this unprece- dented prosperity in a year of general depression? Ask any grower in the five counties mentioned and he will re- ply without hesitation that it is due to co-operative production and co-opera- tive marketing. At a time when the Federal Farm Board is making every effort to en- courage the formation of workable co- operatives among the growers of other large American crops, declaring it to be the board’s belief that in that way 4 | Jies the salvation of American agricul- ture,. the results of such growers’ co- operation in Southern California are of particular interest. In this region the largest and most successful of all crop co-operatives— the California Fruit Growers’ Exchange and the California Walnut Growers' Ex- change—are operated. Charles C. Teague is president of both. Something of the importance attached to CD-Dp:l,"!h‘e agriculture by the national administra- tion is indicated by the fact that Mr. Teague was drafted by President Hoover to serve on the Farm Board for the sake of his extensive knowledge of this subject. \ Standardized Prices. The citrus exchanges of Southern California marketed this year 90 per cent of the citrus crop. The California Fruit Growers’ Ex- change has its representatives in all the populous communities of the United States—North, East and Middle West. The fruit is taken from the packing i houses and shipped in refrigerated cars to main diversion points. An intricate system of telegraph communications keeps the headquarters of the exchange posted on just where there is & demand for special fruits and the quantities that are necessary to supply the de- and. T hfough this technical balance of sup- | ply and demand no market is glutted, and the exchange is able to standardize prices. 2 The California Fruit Growers' EX- change recognizes the value of adver- tising. The cost to the individual grow- er, on the co-operative basis, is trivial, but the exchange is provided with mil- lions of dollars for an educat'onal ad- vertising campaign, covering the whole territory where California citrus fruits are consumed. > The exchange maintains a rigid fixed standard for ih2 quality of fruit that may be sh pped and, through co-opera- tion the grower is taught how to secure the best yields from citrus acreage. Compare this method of scientific co- operative marketing with the ancient individualist method still pursued in Spain and one begins to appreciate wherein lies the distinction between success and failure. ‘The Spanish growers have not yet learned what standardizaton means. Each grower picks and packs when the spirit mo him, and is at the merey of the brokers for marketing his crop. Much of the fruit is of poor quality, because growers have not learned scientific irrigation and fertilization of citrus fruit land. There is no co-ordi- nation of shipments, and, while right at the gates of the European markets, one market is gluited and the fruit spoils, while other markets are bare. ‘This situation is fully appreciated here by the citrus experts, for it is the con- dition that prevailed in the California citrus belt 35 years ago. (Copyright, 1930, by North Ami paper Alliance.) CHICAGO, December 3 (Special).— The wheat market was firm today on buying influenced by strength in Liv- erpoo! December, old. opened 76%; new, 77, March, old, 79% to 79%; new, 7935; May, old, 80 to 80% ; new, 81} to 81%. After the first half. hour, De- cember, old, 76 new, 76%; March, old, 79%; new, 79%; May, old, 80%; new, 81%. Corn was higher under short cover- ing early but realizing sales caused some reaction. December, old, opened 7814 ; new, 78%; March, old, 81; new, 811, to 81; May, old, 83 to 82%; new, 83% to 83. After the first half hour, December, old, 77%; new, 7815; March, rican News- old and new, 807 . ‘Three years ago, weekly aver. . 143.8 High, 193¢ ? Low, 1930. High, 1929 Low, 1929. Two years ago. ‘Three years 2go, weekl High, 1930. PIPE LINE CARRIER PROJECTS PUSHED fEight Construction Units to| Add 7,500 Miles to Ex- isting Carriers. BY BENNETT WOLFE, Associated Press Staff Writer. TULSA, Okla, December 3 —Pipe- line construction, furnishing, perhaps, one of the brightest features of the industrial year, goes steadily ahead as Winter comes. ‘Work is being speeded on eight major projects, including gasoline, natural gas and crude oil carriers, which, upon completion, will have added 7,500 miles to the underground transportation system. Based upon estimates of the build- ing companies, the 1930 construction program represents an investment of' £200,000,000. Several of the lines will be in operation in January, the build- | ers have announced. | New Project. From the offices of the Great Lakes Pipe Line Co. at Ponca City came word | today that gasoline would be shipped to Kansas City through its new line not later than January 1. The company’s complete system, reaching from the Oklahoma refineries of the Barnsdall Corporation and the Comnenul oil Co., and totaling 1,400 les, is ex- pected to be in service mext June. Parnsdall and Continental jointly or- ganized the pipe line concern to provide for transmission of their gasoline to re- (Copyright, 1930, Standard Statistics Co.) and construction work is well along in Kansas, Missouri and Indiana. The Missouri Valley Pipe Line Co. expects to complete 950 miles of a gas line from the Texas Panhandle through Kansas into Nebraska and Iowa before the end of 1930. Mcst of the work so far has been in Texas, Oklahoma, Iowa and Nebraska. Plans call for an exten- sion later from Fort Dodge, Iowa, to Minneapolis. In the South the Southern Natural Gas Corporation is adding 710 miles of extension to its trunk system, running east from the Monroe, La., gas fleld to Birmingham and Atlanta. .. Bread, as we know it, is, compara- atively speaking, a recent invention, for right up to the end of the eighteenth century the poorer people ate chiefly unleavened bread. 1.75; slaughter . good and 100-130 pounds, m«) Cattle—Recelipts, 12,000 head; calves, 2,000; choice fed steers and yearlings steady; others weak to 24 lower; very and uneveply lower market on medium to good light heifers and mixed yearlings; early top weighty steers, 13.00; some 1,343 pounds making 13.15; gf:;'m yearlings, early, 13.25; some held T Slaughter cattle and vealers—Steers, ‘hoice, 600-900 pounds, 10.00a .75: 900-1,100 pounds, 10.00a13.75; 1,100-1,300 pounds, 9.75a13.50: m& . .75; an medium, 600-1,300 pounds, 6.50a10.00. heifers, good and choice, 550-850 8.75a12.50; common and me- 0029.00; cows, and choice, 5.25a7.25; common and medium, 3.75a 5.25; low cutter and cutter, 3.00a4.00; bulls (yearlings excluded), good and choice (beef), 5.25a6.50; cutter to me- dium, 4.25a6.00; vealers (milk fed), good and choice, 8.50a11.50; medium, - 6.5029.00; cull and common, 5.00a6.50. Stocker and feeder cattle: Steers—Good and choice, 500-1,050 pounds, 7.0029.00; common and medium, 5.50a7.00. Sheep—Receipts, 23,000 head; fat lambs weak to 25 lower; maximum de- line on in between grades; fat ewes and feeders steady; early bulk, to choice lambs, 7.75a8.25; best, 8.40; some !,uld higher; choice feeders held above .25, Slaughter sheep and lambs—Lambs, 90 ds down, good and chcice, 7.50a 865; medium, 6.00a7.50; all weights, common, 4.7586.00; ewes, 90-150 pounds, medium to choice, 2.00a3.75; all weights, cull and common, 1.0022.50; feeding lambs, 60-75 pounds, good and choice, 6.7587.50. Operative Bldg. Ass’n O 1879 JOHN JO’Y“E‘;’S‘ON. Presiden ssets .. +000.85,901,12248 S 5 ‘WALTER S. PRATT, Jr., Sec jurplus & 1st YEAR COMPLETED Profits. .$1,818,655.92 A Subscription for the 100th Issue of Stock Being Received Think of the Future —and pre- pare for it by saving syste- matically each pay day. Then you will be pre- pared for any emergency. tail marketing territories. The Phillins Pipe Line Co., a subsid. iary of the Phillips Petroleum Co., ex- pects completion of the gasoline line, extending from Borger, Tex., to St. | Louis, by way of Wichita, Kans., with | 8 bnnchlto Kansas City, Mo., before January 1. A long crude ofl carrier, the Gulf |pipe Line Co.’s 900-mile line from Glennpool, near Tulsa, to near Spencer- ville. Ohio, is nearing complet'on. Through this line and that of the | Buckeye Pipe Line Co. the Guif oil | Corporation will supply refineries at | Cincinnati, Teledo and Pittsburgh. Rapid progress has been made on the Ajax Pipe Line Co.'s double crude oii) | line from Glennpeol, to Woodriver, IIl, | which will contain 824 miles of pipe. Company officials say the system will | be in operation by January 1. The Ajax line is owned by the Standard Oil Co. of New Jersey and the Pure Ofl Co. | | Three long natural gas pipe lines will reach from the Texas Panhandle to points in Kansas, Missouri, Illinois, Ne- braska, Iowa, Indiana, Kentucky and Minnesota. The Continental Construction Co,, in which are associated the Cities Service Co., the Insull interests, Standard Oil Co. of New Jersey, Skelly Oil Co., Phil- lips Petroleum Co., lucers and Re- finers' Corporation, Texas Co. and Co- lumbian Carben Co., is building a 1,000~ mile line from the Panhandle gas fields to Chicago, passing through Kansas, Nebraska and Iowa. The cost is esti- mated at $100,000,000. 1,100-Mile Carrier. A 1,100-mile gas_carrler, originating at Borger, Tek., and terminating at In- dianapolis, with an extension into Ken- tucky, is a project of the Missouri, Kan- sas Pipe Line Co. The line has been completed from Borger into Kansas, Years of Investment Experience Guaranteed Bonds, Bank Stocks, Insurance Stocks, Bonds, Preferred Stocks, Common Stocks. Robert C. Jones & Co. Investment Bankers Investment Building Telephone Met. 2922 “Consult Us About Your Investment Problems” THE COMMERCIAL NATIONAL BANK Let us serve you in all banking and fiduciary matters. We will gladly explain our systematic plan for saving! PUT YOUR SURPLUS TO WORK il . You add earning to saving when our 6% Over a Third of a —for Century made Without a Loss vou make investment in FIRST MORTGAGES throughout the term of years for which the mortgage is vour money will draw interest at the rate of 6%—pay- able at regular intervals. May be purchased in amounts from $250 up. B.:"F. SAUL GO, National 2100 :THERE Sound Investment Diversified Group of listed common stocks can be accomplished by the DIRECT OWNERSHIP METHOD This method gives the investor complete control of his holdings combined with a cooperative guidance and cur- rentinformation regarding these holdingsfurnished by us, 925 15th St. N.W. IS. NO SUBSTITUTE FOR SAFETY T S e T Carefully chosen common stocks carrying a Moody's Composite Rating “A™ comprise the 3 groups as ar- ranged under our plan. One group or more may be purchased affording the investor a wide latitude of investment diversification. ‘Each stock certificate is regi in the investor's name and delivered to him. o There is no cost beyond the actual market price of the hio Edlxl:x Walker «H) (1) May, cld, 82; new, a5 % Intercontinent Pet n ne P e Pump. . 47% Intl Hydro cv pf 3% 1258 13% int Petroleum (1)... 8 5 Internat U1l (B). 4 InterstateEquities 4 3% Italian Superp (A).. 11 79% Intl Uil pt pf (7)... 50s 1% Kirby Petrolenm.... 1 10 Kleinert Co (1) 5 1 1 Interest paid on savings accounts from day of deposit to day of withdrawal. Resources o $19,000,000 WADE H. COOPER. President 14th and G Streets 821, Oats followed corn. December, old, opened 36';; March, old, 38%; May, old, 39'% to 387%:; new, 39% to 39. After the first half hour, December, old, 36; March, old, 38%; May, old, 381%; new, 383, i Provisions were higher with hogs. MARKET FACI.NG TEST West Air Exp (60c) West V Cox Wil-Low Cafeterias. Zonite Products «1), Dividend rates in doliars based payment. *Ex dividend. {Party exirs O ton’ & Payable In cash or stock. b Payable in stock fnd, 4Fius 5% in stock; e Plus 6% in stock.” n stock. P n Plus 8% in stock. i e TeTTEsTITTTeTsseeasTRssaTaEes 39 9% mi-annual us 4% in stock. © Adjustment divi- hPlus 1% in stock. mPlus 3% in stock YDA FEE & 16% Knott Corpn (al.60). 35l Lackawanna Sec (4) 181 oo New Location FEAL 25 k. Bt .. 3 SREEE E 4 g™ "'5 2 18 s ! Xg-fl. 1 5000 101% 101 8 R 0 75 9 savoaantiots- e ¢ 6812 977 A, i f i | By the Associated Press. NEW YORK, December 3.—The holi- day last week caused a decrease in the number of buyers registered in the New York market compared with the pre- Vious week. According to the New York Times list 432 buyers were registered here last week against 546 in the pre- ceding week and 506 a year ago. A rush “of buyers from neighboring #12; | States to fill thelr last-minute Tequire- 31| ments for novelty furniture caused a 24 | pre-Christmas spurt in wholesale furni- ture buying this week. The activity was in sharp contrast to the dullness that stands and other odd pleces increased about 10 per cent in sales. Minor reductions on shoes ranging | from 5 to 15 cents a pair were reported in the trade to have been made this week by a leading St. Louis manufac- turer. Much interest is shown in the opemnrmot Spring lines by one of the most portant manufacturers about December 15. Neckwear' manufacturers attending the semi-annual convention of the as- soclated men’s neckwear industries ex- pressed satisfaction with general condi- tions in the industry. 'y are now engaged in filling last-minute orders for holiday goods. They hope to maintain the present price level and giving better quality for the usual prices is proposed. Mattress Shipments Gain. By the Associated Press. nounces of products m:h'wumwm | | lishments in the United States engaged in the manufacture of mattresses and |bed springs amounted to $119,292,000, an increase of 20.7 per cent, as com- | pared with $98,834,558 reported in 1927, the last census ye: ‘The bureau also reports that total value of products of dairymen'’s, poul- trymen’s and apiarists’ equipment and supplies amounted to $42,244,474, an increase of 14.7 per cent, as comj with $36,823,648 reported in 1927. i U. 8. TREASURY BALANCE. The United States Treasury balance announced today as of close of business December 1 was $82,047,606.45. Customs receipts for the month to date were $1,622,095.47. Total ordinary expendi- tures, $6,684,051.70. ‘The Jowa House un-m-uvu will be equipped with an e! VOte mmumrm AFTER RECENT ADVANCE| Spectal Dispatch to The Star. NEW YORK, December 3.—A three- day rally had produced an average advance of between 5 and 6 points in the stock market and this technical change was taken into consideration when trading started today. Some observers on the floor of the Stcck Exchange had said Tuesday afternoon that conditions there resem- bled those which preceded the recovery on November 12. The short interest was nervous. There were some indi- cations of accumulation in the iron and steel, copper and public utility groups. The general comment, however, in this morning’s market letters was to the effect that too much unfavorable news in the way of corporation state- ments and lower dividends wa$ to be expected for the iemainder of this month to justify more than a mnd&l:‘(e‘ ’un market m-ydntu.vnu:ry‘vmde- mdmmuchonwhnhnnum month to hold above the low poipé of the year established in November, We Are Now Located in Our Own Building at 1610 K St. N.W. ‘This new location is more convenient to the financial center and will prove in every way a convenience to our investors. Capital Resources, $3,800,000 1610 K ST. NW. stocks plus the regular exchange commission. A booklet fully describing the plan and giving the complete list of stocks in their respective groups will be sent at your request. EeTTTTsss J-A- . Iglehart & Co. Investment Bankers 426 Shoreham Building ~ Washington, D. C,