Evening Star Newspaper, December 5, 1930, Page 15

“ o Ve 4 ' Offerings Increase on Decline . as Short Selling Is ' Resumed. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, December 5.—Slipping steadily from the opening gong, today's “curb market remained dull until mid- day brought slight incrzase in offerings. Combined liquidation and short sell- ing caused Electric Bond & Share to decline about 2 points. Cities Service ‘was fairly active but eased only a half point, American Gas & Electric, which only Wednesday declared an extra divi- dend of 20 per cent in stock, dropped more than a point. Novadel-Angene Corporation was a feature of trading in the forenoon as, it reached a record high price of 42, up 1%. The rise in the stock of this company, a manufacturer of flour bleacher, followed the action of dirsctors in declaring an extra dividend of 25 cents and increasing the regular rate from $3 to $4 annually. Volume in the forenoon session amounted to 245,300 shares, compared with 172,600 in the same Thursday period, the gain in sales being scattered over a wide list of stocks and not due to the appearance of many big_blocks. . United Founders, which was pounded unsuceesstully in the final hour Thurs- was offered_frequently today, but up to noon it held within an eighth of a point as support orders took all of- ferings. Later it broke to a new low level. Food shares remained dull and ir- United States Dairy A was and Southwest Dairy eased. Fajardo Sugar, off . at 38, was at a new low for the vear. Mead-John- son was down more than a point. Most metal issues were lower. Roan Antelope, on London selling, broke to a new minimum for 1930. Newmont Mining was off more than a point, and lesser declines occurred in Hudson Bay Mining and Shattuck-Denn. Federat Metals and Copper Range improved. ‘The better showing of Ford Motor Co. . in percentage of world production for the first 10 months of tlh‘s yinll;, s'.lh; figures being 43.5 per cent, agains { r cent in the same 1929 period, had Beme effect on the Ford shares. Ford Motor of Canada A was off a shade and Ford of France and Ferd Ltd. were virtually unchanged and very dull. CAMPAIGN TO INCREASE OIL PRICES IS STARTED By the Associated Press. NEW_ YORK, December 5~—The Royal Dutch Shell group, the world's largest producers. of crude oil, are launching a campaign to bolster crude oll prices, along with producers in two other basic industries, copper and steel. “The great copper and steel indus- tries have taken the initial step to bring about an improvement in their position. Why not oil?” asked Richard Airey, one of the leading officials of the Royal Dutch group in the United States, in a statement to the Associated Press today. “It is the firm opinion of the 1 Dutch Shell group,” he continued, * the producers who have made possible the great curtailment of production al- ready accomplished, and the need for still _ further curtailment, should be compensated by higher prices, and not by a reduction.” ‘Continuing, he said: « - “It has been said we have put out feelers for a joint price raise. This is not correct. We have made known our Y 2 S T 23ISR 2R 2EER 2222 N3 IRIIINSIZRIRFIILBIR 833 oGS5 arn S S wen WS SR T :m:m- 3oy R SN - 5 RO g0 P04 1 VR A b0 223 Sagrars cnommas o > S ER3In388 3283355888 i 0l s v o 8t 3 7% SorarrecatoBars S s crrscnen’ Mun 75 ‘31 7 ion 45 37 3283 383 ~Prev. 1930.— High. Low. L ote— ks sold in one hundred-share lots - A“md;'S:HMMMWrI(WI) (2508) shows those stocks to be sold in odd lots only, Sales— Add 0: Open. High. Low. Close. e ing those ‘whicl Stock and Dividend Rate. Acetol Prod A.....eu Acme Steel (2%) ‘Aero Underwriters. Aftiliated Prod 1.60 7 Agfa Ansco pf. .. 258 Alr Investors cv pf. 1 Alexander Indust All AmGen Corp. Allied Milis (60c). .. Aluminum Co of A: Alum Goods (1.20).. Aluminum Co Ltd. Amer Austin C: Am Br B fd shars. Am Capital (B) . Am Capital A(11%). Am C P&L (A) (a3). Am CP&L B (10%). Am Com P A (b10%) Am Cyanamid (B). ‘Am Dept Stor Am Equitie Am For Pow (war) Am Foundrs (b4-70). Am Gas & E) (31) Abn Hardware (15) 5 Am Invest Inc (B). Am Invest (war) Am Lt & Trac (2%).. Am Maricabo . Am Pneumatic Sv.. Am Superpowr (40c: Am Transfor (1.40). Am Ut&G (B) (35¢c). Anchor P F (b10%) Appalachlan Gas Arcturus Rad Tube Arkansas Nat Gas. Ark Nat Gas (A). Asso Dyeing & Prtg Asso El Ind Ltd 30c Asso Gas & Elec.... Ass0o GEE A (at2.40) Ass0 G&E (A) dbrts Asso G & El ctfs (8).1501 Asso Laundries. . Asso Rayon. . Asso Rayon pf (6). Asso Tel Ut] (b8%). Atlantic Fr & Sug. .. Atlantic Coast Fish Atlas Plywood (2). Atlas Utl] Corp.... Aviation Cor of Am Bahfa Corp. . Bahia Corp pf,...... Blue Ridge Cpp20c) Blue Ridge cvpf(ad). Bowman Bilt Hotels, Brazil Tr&Lt(h8%). Brill Corp (A) (85¢). Brit-Am 011 C (80c).. Buckeye PL (4).... Bulova ov pf (3%4).0 Burma Corp'(131¢) Bwana M Kubwa. Cable & Wire B rets. Canada Marcont Carib Syndicate Celanese Cor pt Celluloid Corp. Cent Pub Sve A Cent St EI (k40e) Cent St El pf (6) xw. Centrifug Pipe (60c) 4 Chain Stores !to«:ki A o 0 a @ e A T T T £ » o o Se - RN OHAIS NN ER NN RO NN B~e R as Soen El Illum (1.60). Tractor (1.60) Club Aluminum Uten Cohn & Rosen Inc Col Plet ve (F1%)., Comstock Tunnel. . wewaBaemn g 2 £ 1 2 H Cont] Share cv pf (6) Cooper Bessemer (2) Cooper Bess nf A (3) T T - Crocker Wheeler. Crown Cent Petrol. Cuneo Press (2%). CIAR . 11T - Dayton Alr & Eng. Deere & Co (£1.20). De Forest Radfo. ... Derby Ol1 Refining. . » Iy e & i Douglas Aireraft (1) Dress SR (A) (3%, Dubfilier Cond & Rad o - o B RO WE R R e 0 Durant Mo Duval Tex Sul wi. East Butte. .. Elec Bond & 8h (b6). 410 ElBond&Sheupfb. 1 E] Bond & Sb pf (6). 3 Elec Pow Asso (1)... 12 Elec Pow Asso A (1) Bl Pow & Lt op war.. Elec Shareholdg (1). El Sharehold pf (a6) Empire Corporation. Emp G&F cu pf (7).. Emp Pwrpt (14.60).. Employ Reins (1%). Fingineers Gold. . Eureka Pipe L (4)... Europ E Ltd A (60¢) Ford Mot,CanA12.10 Ford Mot France 280 Ford Mot I.1d 37 %e. Foremost Dairy Pr.. Foremst Dairy, pr pf. Foremost Fabrics Fox Theater Cl (A) Garlock Pkg (1.20) G Gen Empire Cor (1. Gen G&E cv pf B (6) 50 Gen Laundry Gen Theat Eq w. % Gen Th ev pf w.i. Gleaner Harv n (2). Goldman Sach 4 Gorham Ine pf (3 Gorham Mfg vte(f2) Goth Knitback Mch. Graymur Corpn..... 4 Grt At&Pacnv 15.25. 10s i GreatLakes DD (1). 1 Groc Strs Prod v.te.. 14 Guard Fire Asso (2), 1 Guardian Invest....; Guif Ofl of Pa (1%4). Hartman Tobacco. 4 Hecla Mining (1) 3 16 Hndson Bay M & S, Humble Ofl (1215 Huyler Strs of De % Hvdro Elec Sec (2. Hygrade Food Prod. 111 Pwr & Lt pt (6). . 100, 1mp O1) of Can (poe) ind Ter 111u 0N (A).. tnsull Ut (tb10% %) 2 1 5 2 1 3 T 5 5 4 2 36 ~Prev. 1930.~ High. Low. 484 ™% el 13% InsCo N Insuranee 5% 5t bW B Internat Internat -Itallan S Johnson Lone Stai Mercanti Mid St P Mia W si Mid Wes: Miller & Ame: t Food Nat Fuel Nat Pub Nehi Cor N Newmon' Newport NY N 1p! Noma Noranda Nor St P Pac Wes Pennroas Plymout Prince & Prince & Safeway St Regls o Stand Of rt Tobacco ‘Todd Shi; Tri-Cont Trt Ut ‘Tublze C| UngerleX Union Of td Carr Utd G Utd G Utd Li Utd Lt & Utd Milk U 8 Datr; U 8 Elec U S Foil u u U S Line U 8& O Uta v Util Po Vacuum 2% Vie Fina: 6% 4% 6814 4% 26% 4% 91 17% 17% 38% n Plus 8% in stock. ish % 381 it Stock and Dividend'Rate. . Add Intercontinent Petn. . int Petroleum (1)... InterstateEquities. .1 Interst Ba cv pf (3).. Knott Corpn (a1.60). Libby McNeil & L. Loew’s Inc war) MacMarr Stores (1). Magdalena Synd 2 Mavis Bottling...... Mead Johnson (4% ). Memphis N G (170¢). Mer Ch & 8 (1.60). ... Met & Min Inc (1.20), 4 Met T Coptpft3%h.. % Mexico Ohio O1l..... Mining Corp of Can.. Mo Kan P L (b10%). Mo Kan P L vte..... Miss Riv Fuel bd rts, Montecatini deb rts Mount Prod ¢1.60) Nachman Spring. t Aviation. t Baking Co Natl Banksve (5 Nat Bond & Sh(75¢). Nat Investors. Nat Rubber Mach(1) Naukeim Phar of. No Am Aviat A wa: Nor Europ 01l Corp.. NorInd PSpf (7)... Nor 8t Pow pf (7)... Novadel-Ang (14%). Ohio B Tel cu pf (7). Oh1o Copper........ 1 Ohlo Power pt (8)...1008 Oilstocks Ltd A 60c.. Outboard Mot (A)... Outboard Mot (B)... Overseas Secur (1).. Pac GAE 1st pf (1%) Paramount Cah Mfg, Peop L & P A a2.40.. Perfect Circle (2)... Philip Morris Ine. Plerce Governor. Prod Royalty (f1) Prudential Invest. Pub Ut Hold (50¢c) Publie Util Hold war Pub Ut Hold xw §0c.. R R Sh Corp (25¢c) Rainbow Lum Pr Rainbow Lum Pr B.. Salt Creek Prod (2).. ttuck Den M1 andoah Corp. Shenan Corp pf (a Silica Gel cifs. Sing Mfg Ltd Sou Penn O1l (12%) SouthldRoyalty (60e) Sunray Oil (40¢) Swan Finch O1l. Swift & Co new ( Swift Intl (13%) Syracuse W Mch T . Tampn Blectrie (32). Technicolor Ine..... Texon Ofl&Land(15) 5% Tran Con Air Tran., Tung Sol Lamp (1).. Un N G of Can 11.60,, Utd Chein pf (3).. Utd Corp (war). Utd El Sv pr war. Utd Found b2-35 Utd Gas Corpn. RIGHTS. Explre. Peop GL&C...Jan16 2 10% l:l"DWC & Plus 6% mk. fil\lfl 10% IVEGETABLE PRICES Low. Close. 50K 50% ™ ™ bl k) 14% 14% 28% 234 6% 6% 4 - 34 314 3% 3% % 9% 18 18 1% 1% gy 23% 23% 00. Am t3).... 4 e Sec (70¢) . - 2 5 o, Super 11)., Ut (B uperp (A). .« Motor.....e r Gasn (1)., o le Stores(1) - et vto A. t Ut (1%) it Ut (b8%) Sons (2). BruineBunBonbnnnomemsn Romm e anee » % 8% 6 rican Co. 5 1 3 3 29% 29% d Prod (B).. e Gas (1).... Sv A (1.60). 14 » 1 B k1 01 1 9900 80 8 i i 1 D (1.30) New Mex&Ariz Land t Min (£4).. Co(2)...00 5615 56% 15% 15% Hamburg (2%). El Corp (80¢). Mines (2).. % 1% 1 1% 106% 106% 130 130 107 107 41 42 106% 106% % % % % 103% 1032 % 4% M A% 2w ow A (8). tern Ofl. ... d Cp (20e).. » 0O G0 GO N D e DN N0 h Ol (2).... Whit (25¢). Whitely pf. P P R0 on 00 0 e 0 00 - 8 w(2d)(C)2: Paper (1).. 8 2 14% 14% 6% 6% 8% 84 1% 1% 5 5 3¢ 34 204 20% 5 5% - MRS e o e e S % Ed 3% 4 1% 3% 22% 22% % 3% 4 g 36% 36% 22% 231 12 12 1% 1% 38 38 2% 5 & 29 82 32 5% 5y 1% 11% [ 8 8y 12% 12 21 32 A% 4TH 5% b% 2% 2% 26 28 4% 4% % 23% 16% 17 24 24 4% 18% 18% ™ % W % BY % 3% 8 874 87% 25% 26% 63 10f KY (12) 0) Corp (1).. TR - & All Stks. . pyard (4) Corp (war). ties ($1.20) 4 ‘hatel (B)... der F Corp.. 1 Asso (32).. tenes HRo®e NEANNNN® - Pow A (1)., Pow B (1)., Product Y (A) (5). Pow ww. (B) (1), 1% 5% 8 & Int Secur..... 8 &"Int Sec 18t (5). 8 pf (1).... T ctes 28%, US Playing Car Utliity Equit! (14%).. n Cor (40¢). . Walgreen Co. . Walker (H) (1), Zonite Produets ¢1).. ; 104 104 hased on last quasteriy or semi-annual {Pai ext) P . 5'Fayable In Stock. l"’:fi’:;x' nont divi: s, RS AR lus 3% 1n CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS NEW YORK, December 5.—The fol- lowing is & summary of important cor- poration news by the Stand- ard Statistics Co., Inc., New York, for the Associated 5. News Trend. Pradstreet’s ind:x number of com- madity prices indicatss that the gen- eral level of declined 2.3 vfi: cent last month. According to at the lowest point since 1915. Dun’s average of a drop of 14 per cent in and was 15.3 cent under year ago. Compared with prior years, this av- el 2 per cent above the level of July, 1 BT Ronidtigmee 2 Stend rat ovadel- , & rmnrmwmw iy 10, Bohack, ‘the davs oo porate news items are largely unfa- Abitibl Power & Paper, mu.mmmw > pgree ob mercer terms. — Aviation Corporation Delaware sub- i Beptember, againgt 8113 in August , agal 2 3 Bohack (H. C.) November sales llfirefln. 11 months, up 14 per ceni n Co. New York metropolitan area milk prices cut 1 cent. Central Associates share ings, year ended July 31, $2.40, earn| gainst 42 cents. 5 Ford fi jovember world output M N estimated at 52,000. units, off 52.8 per cent. Glidden Co. subsidiary, Durkee Famous , has de na - colored vegetable margarine; g-lk. not g ey me vt e , | 25 @ source of potato supplies. B4 the market crop nas been disposed of ol strengthening effect on the market for i1 | 85 IN SHARP UPTURN Potatoes, Cabbage and Other Green Produce Show Higher Trend. The'sharp upturn of the market on many kinds of vegetables was fairly well maintained through the first week of December, says the United States De- partment ©of Agriculture Bureau of Agricultural Economics Market . News Service. Most of the produce remaining has gone into permanent storage and the owners are no longer in a hurry to get them to market. Weather too, has interfered considerably with shipping operations in producing sections. Many shippers East and West have been hold- ing produce for higher prices. The combined result of these conditions was 6% |a brisk advance in prices of potatoes and cabbage, and more or less of an up- ward trend on the other leading lines 14 | of green produce. From a more general 5% | point of view the market gains of late: November and early December were a part of the general recovery of price values at the time in many commodi- tles, Potato Prices Advance. Th> leading markets quoted potatoes in early December on an average of about 25 cents per 100 pounds higher * | compared with the lowest of last month. Car-lot potato sales by dealers at rep- resentative country shipping points ranged from 90 cents per 100 pounds in the Rocky Mountain region to $1.60 in Western New York. Usually in a short-crop season the price has tended 21 4 upward during Winter, and the potato trade is wondering whether the present bulge in the market is merely tempo- rary or whether the underlying condi- tions are beginning to take effect. There is considerable interest in the coming December final crop report and the later reports of stock on hand January 1, which are both practically revisions of the preceding crop estimates. Total shipments of the late crops so far are a little lighter this season and the cur- rent rate of shipment is less than in early December last year, partly because of weather conditions at shipping points and also because some growers are not willing to sell at prevailing’ prices. Com- paring the market situation with 1921- 22, which was also a hard-time season and a short potato crop, prices have been ranging relatively lower this year. Supplies of potatoes are reported moderate and demand fairly good in nearly all Eastern markets. Consider- able quantities of potatoes from Prince Edward Island are to be found in Bos- ton, Providence, Philadelphia, Pitts- burgh, New York, and even in some Midwestern cities. The island has chipped over half a million bushels of table stock to the United States this season. Maine potatoes also are moving over a wide range of market territory because of shortage and poor quality of much of the Central Western crop. Prices were advancing during the first week of December, with a range of $1.75 to $2.25 per 100 pounds on jobbing sales of Maine Green Mountains in Eastern markets. Long Island potatoes sold a few cents higher than Maine stock. Pennsylvania or New York Round Whites were mostly a little be- low Maine potatoes. Pennsylvania re- ceipts sold at $1.60 to $1.75 in Baltimore and Pittsburgh. From a carlot shipment standpoint, Western New York so far this season has been rather unimportant Much of by motor truck. Growers in that sec- ¢ | tion are receiving low prices of 60 cents to 65 cents a bushel An upward tendency in sweet potato '2 prices in early December brought some increase in shipments from Delaware, Tennessee and New Jersey, with total w, | daily output sometimes exceeding 100 cars, but supplies are still light in most Eastern markets. Prices are well main- tained at recent advances. Virginia yel- low stock sells at $3 to $4.50 per barrel in Eastern markets.' Some of less de- sirable quality brings only $2.50. North Carolina red stock was quoted at $1.35 per bushel in Washington. and at $3 to $3.50 per barrel in New York. Dela- ware and Maryland yellow sweet pota- toes advanced in New York, but sold about unchanged in other markets; with a general range of $1.35 to $1.75 per ::uslnedli St\i:es of New Jersey potatoes, ncluding house-cured stock, $1.75 to $2.50. B i Cabbage and Onions Gain. The beginning of cold weather § Eastern producing sections had 2 cabbage, onfons and most other veg- etables. At the same time lower mg- peratures and snow in some districts tended to retard shipments. The demand for cabbage has greatly improved. There were gains of $5 to $8 per ton at various shipping points as compared with the low points of No- vember. The advance has been fairly well maintained d some growers are holding back in anticipation of further gains, since present price levels are not relatively high. Growers in West- ern New York are receiving $10 to $12 per bulk ton and occasionally $13, and deales ask $15 to $16 at shipping points. Most of the heavy holdings in storage are in New York and Wiscon- sin. A few cars are coming from Penn- sylvania and from the Far West. Penn- sylvania cabbage of the late-keeping varieties gells in Washington at $1.40 per 100 pounds. New York cabbage is quoted at $21 to $25 per ton in Eastern markets, or $1.15 to $1.50 per 100 poui:ds. Slightly higher prices for onions bro.ght some increase in car-lot ship- ments the first week of December. The gains were mainly on Eastetn onions. Some very low-priced stock remains in the West, with prices paid to growers as low as 25 cents per 100 pounds in some districts, compared ‘with $1 to $1.15 in the East and Middle West. Prices on jobbing sales in Eastern mar- kets are $1.10 to $1.35 on best lots. Supplies on hand are reported moder- ate in New York and Boston and light in Philadelphia, Baltimore, Pittsburgh .nfl: q‘lnmcinnlll‘ cading Eastern markets report mod- erate supplies of celery Bndpglow de- mand. Shippers are pushing the crop into the market rapidly because of the 50 per cent larger holdings in storage, compared with last year, and because new celery from the South may be ex- pected to compete by January, while the condition of old ‘celery -in" storage scarcely holds its own after that time. Shippers in Western New York are re- celving mostly $1.75 for crates holding four to five dozen, with price tendency upward to $2. Fair demand . prevails for the smaller sizes, but the quantity of such stock is limited. The Eastern celery brings $2 to $2.50 per crate in the large city markets. Apple Shipments Decreasing. Shipments of apples have been de- creasing for some weeks past. A large percentage of the output of Eastern producing sectlons continues to go to the export trade, but the demand from that source has slackened somewhat. Recent sales of Ben Davis as high as per barrel export pack have been reported, but not many lots brought more than $4.75. Baldwins ranged $1.35 to $1.40 per bushel in Western New York producing sections for:the bast grades and $1 to $1.15 for others. - ments from Western New York have been d?\‘;l‘:le those 3{ ll:.:t ul:%u’&p I‘mt many thern tern ing sections report o&y a light ow Virginia. anc._Wes ia_ are about 50 cars out of total shipments of some 450 carlats. ud:».huu' A new . inated the “‘E:f?::&& 5 OF RECAPTURE CLAUSE ' |y -IN RAIL ACT HELD DESIRABLE ILC. C Goes on Record Against Le.g.islation. Holding Companies Are Dis¢ussed in Annual Report.‘ s BY CHARLES F. SPEARE. Special Dispatch to The ‘Star. NEW YORK, December 5.—The vital feature in the annual report of the In- terstate Commerce Commission is prob- ably for the repeal of the so-called ‘‘recapture clauses” of section 15a of the interstate cormerce act. It is be- lieved that the commission feels this provision for creating a contingent fund to be unworkable and eventually with- out legal sanction. In‘ the period of its operation since 1920 the total amount of excess income reported by the carriers is $23,087,392. In 1929 the r-capturable amount was $5,378,101 ard in 1923 nearly $7,000,000. Owing to v decrease in gross and net earnings year, the excess income applic. 3> ‘5 ‘the contingent fund is expected to be negligible, Holding Companies, Another reference. in the commission’s report that interested railroad men had to do with the subject of holding com- panies. This was covered very fully in the 1929 comments of the commission, which developed out of the activities in connection with the Alleghany Corpo- ration and the Pennroad Corperation. The commission at that time said that “‘the subfection of the unification of carriers by railroad to the orderly processes of a carefully planned scheme of public regulation, which section 5 was designed to accomplish, is very likely to be partially or even wholly de- feated, - subject to the possibility that the Clayton anti-trust act may in some measure, after protracted litigation, en- able control over the situation to be maintained.” It is known that the commission is more unanimously ir favor of some re- strictions on holding companies than it has been on almost any other question that has come before it in years. The pertinent situation is that of the owner- ship of the Lehigh Valley and the Wa- bash by the Pennsylvania Co., for just most entirely to the unwillingness of the Pennsylvania to give up its Lehigh Val- ley control. Whether it will be able to retain it, in view of the attitude of the Commission on Railroad Holding Com- panies, is questioned by both railroad men and bankers who are deeply con- cerned in the present deadlock. Recognizes Carriers’ Plight. ‘The commission in its report recog- nizes the serious conditions existing this year and deflected in the heavy decline in gross and net earnings. It realizes that the carriers are not only suffering from a general recession in business, but from “competition of other forms of transportation.” It points out that a strong argument in their favor, from a financial standpoint, is that “their cap- italization in recent years has not kept pace with their 1) tment, and the re- lation of their net income, after interest charges and all taxes, to their capital stock. was never better in their history than it was in 1929." This argument is supported by a table giving the amount of capital stock in each year from 1910 to 1929, the net income after interest charges and taxes and the ratio of net income to stock. The most illuminating portion of this record is the change that has occurred since the carriers came out from under Government supervision. In 1921 net income was $351,000,000 and the ratio of net income to stock 3.94 per cent. Last year net income was $977,000,000 and the ratio of net to stock nearly 10 per cent. It is on the basis of the excellent earnings and the surplus reserves et up, particularly in the past five or six years, that so much confidence is now felt that, in spité of this year's net decreases, thie carriers will be able to continue paying present diyidends for some time {0 come. In the early part of 1931 the benefits of rate increases allowed by the commission will begin to accrue. It is not improbable that during the comln§ year further up- ward adjustments in present tariffs in now the impasse in the negotiations be- tween the four Eastern roads is due al- the Western territory will be granted. (Copyright. 1930.) CROP CONDITIONS SHOW GAIN IN FOUR SOUTHERN STATES By the Assoclated Press. RICHMOND, Va., December 5.— Composite condition figures for all crops in Maryland, Virginia, West Virginia and South Carolina increased between October 1 and November 1, but North Carolina’s average condition deglined, the monthly review of.the Fifth District Federal Reserve Bank released here to- dhy showed. The changes. were slight, the review sald, varying from an increase of 2.4 points in Virginia to a decrease of three-tenths of 1 point in North Carolina. Combined Yield Low. Virginia farmers were securing yields of most crops slightly above earlicr ex- pectations, the review, compiled by Wil- liam W. Hoxton, chairman and Federal Reserve agent at the Bank of Rich- mond, said. The review estimated that the combined yield of all crops is the lowest on record, being only 67 per cent of the 10-year average. The weather conditions of October were sald to be favorable for ‘harvest, but unfavorable fér preparing Jand and seeding Fall grain. “Wheat has germinated very Iy and is expected to enter the Winter with a rather short growth,” Mr. Hox- ton sald. “The corn crop yielded somewhat better than was forecast on October 1, and produchion of 17,676.000 bushels compares favombly with 16,138,- 000 Bushels forecast last month, but | gg shows’ a drastic reduction from 44,138,- 000 bushels harvested last year. ‘Tobacco Crops. “Preliminary estimates of tobacco ylelds are approximately the same as those of October 1. The Virginia crop is now .estimated to be 92,820,000 pounds, compared with 113,865,000 pounds grown in 1929. The quality of the crop is exceedingly low, being re- ported at 56 per cent, compared with 85 per cent last year and 76.per cent during the past 10 years. “‘Although pearuts have been d they have not beem threshed or picked, and- the yield is therefore still uncer tain, tion is 88,200,000 pounds, compared with 146,080,000 pounds last year. “The Virginia sweet potato crop suf- fered severely from the drought and a crop of only 3,680,000 bushe® is ex- rectem compared with 6,705,000 bushels ast year and a five-year production of 5,142,000 bushels. Shipments from the Eastern Shore to November 1 amounted to 4,127 cars, while to the same date last year 5,518 cars had been shipped. Late Irish potatoes yielded quite poorly and total production of potatoes is now estimated to be 14,896,000 bushels, 11,- 880,000 bushels "of early commercial crop. Last year total production was 17,461,000 bushels, including 12,070,000 bushels of commercial early. Apple Crop. “The Virginia commercial apple crop is estimated to be 1.350,000 barrels, which is 330,000 barrels less than the October 1 forecast and 1,750,000 below the 1929 crop and only slightly more than half the average production dur- ing the previous five years. Carlot ship- ments to November 1 of 3,872 cars in- dicate that the total shipments for. the season will amount to about 7,000 cars. ‘The short crop reulted chiefly from the damaging effects of the prolonged Summer drought. The quality of the crop and the size of the fruit are re- ported by orchardists to be much below average, thus causing a larger percent- age to run to the lower grades. An un- usually large percentage of the crop is being disposed of for by-product pur- poses.” The review said that Maryland's weather was not favorable for the ma- turing of late harvested crops, and that West Virginia’s prospective crop yields of November 1, as a percentage of aver- age during the 10 years preceding, was only 58.8 per cent, the poorest average for any State in thé country. South Carolina crops were better than those STOCK AND BOND AVERAGES By the Ausociated Press. From Yesterday's 5:30 Edition. STOCKS. 50 Industrials, Two years ago Three years ago, weel High, 1930. Low, 1930 High, 1929 Low, 1929. The present estimate of produc- | Hogs—] of any other State in the fifth district and, with the exception of New Hamp- shire and Georgia, were the best in the United States, according to the review. “North Carolina was fortunate in ex- periencing relatively Jjttle of the severe drought during the imer and early Fall,” Mr. Hoxton reported, “and n;lm w;i themm'eplfiltlflmi of &ez:s for the seeding of small grains. pas- tures are fairly good.” BROKER LOAN TOTAL IS DECREASED AGAIN Special Dispatch to The Star, NEW YORK, December 5.—The weekly statement of.the Federal Reserve brokers’ loans showed a decline for the tenth successive week to a new Jow rec- orc since publication of the loans began in 1926 and the smallest known total since April, 1925.© The decrease in the week ended December 3 amounted to $11,000,000, taking the total down to £2.111,000,000, compared with $2,122- 000,000 a week ago and- $3,392,000,000 a year ago. Loans for own account this week were $1,296,000,000 against $1,288,000,~ 0 last week, loans for out-of-town ‘banks were $373,000,000 compared with £380,000,000 and loans for others were $442,000,000 contrasted with $455,000, 000 Of the total of brokers’ 10ans, de- mand loans made up $1,557,000,000 compared with $1,563,000,000 last week and time loans were $554,000,000 against $560,000,000. The New York Federal Reserve Dis- trict rediscount rate remains unchanged at 213 per cent. el g CHICAGO, Décember 5 (#) (United States Department of Agriculture) — Recelpts, 30,000 head, including 10,000 direct; slow, 15 to 25 lower; packing sows 10 to 20 off; top, 8.40, for choice 130-160 pounds; bulk, all weights, 8.2028.30; pigs, 8.25a8.40. Packing sows, 7.10a7.50; light light,, good and choice, 140-160 pounds, 8.25a8.40; lightweight, 160-200 pounds, 8.20a8.40; medium Weight, 200-250 pounds, 8.15a8.3 heavyweight, 250-350 pounds, 8.10a8. medium and good, 275-500 pounds, 7.10a7.65. Slaughter pigs, good and choice, 100-130 pounds, 8.0028.40. Cattle—Receipts, 2,000 head; calves, 1,000 head; general quality plain; all killing classes fairly active and steady to strong; most fat steers and yearlings eligible, 7.50, to 9.50, few 10.50 to 11.25. Slaughter cattle and vealers: Steers, 8ood and choice, 600-900 pounds, 10.25a 13.75; 900-1,100 pounds, 10.25a13.75; 1,100a1,300 pounds, 9.73213.50; 1,300~ 1,500 pounds, 9.75a13.25; common and medium, 600-1,300 pounds, 6.50210.25. Heifers, good and choice, 550-850 Ibs., 8:50a12.50; common and medium, 5.00a9.00; cows, good and choice, 5.25a 7.25; common and medium, 3.75a5.25; low cutter and cutter, - 3.00a4.00; bulls (yearlings excluded), gobd and choice (beef), 5.25a6.50; cutter to medium, 4.00a5.75; vealers (milk- fed), good and choice, '8.60a11.50; medium, 6:50a850; cull and eommon, 5.00a6.50; stocker and feeder cattle: Steers, good and cholce,’ 500-1,050 lbs., 7.0029.00; com- \mon and medium, 5.50a7.00. Sheep, 11,000 head; fairly active; kill- ing. classes steady to strong; fresh feed- ers absent; early bulk good to choice lambs, 8.00a8.50 ‘to packers; several loads, 8.65a8.75 to shippers and city butchers; some held higher; lambs, 90 lbs. down, good and choice, 7.75a8.85; medium, 6.25a7.75; all weights, common, 5.0026.25; ewes, 90-150s1bs., medium to choice, 2.00a3.75; all weights, cull and common, 1.0042.50; feeding lambs, 60-75 1bs., good and choice, 6.7587.50. weather was favorable for harvesting | by VERNNENT LT Commrérce Dep erfl ‘Iil First U. S. Agency to Sug- " gest Christmas Purchases. BY J. C. ROYLE. Within the next few weeks the De- partment of Commerce is going to find out just how amenable the people of the United States are to s . In other words, it will be shown whether 1t is possible to lead a horse to water and m¥e him drink. he move on the part of the depart- ment is being greeted with both ap- proval and disapprobation on the of various economists, merchants and business men. The department has issued a list of suggested Christmas gifts which, while extensive, all contain cotton fabrics in some form or another. Manufacturers and dealers in other types of merchan- dise than those employi cotton do not see why a list of suggested Christ mas gifts issued by a Government de~ partment should be confined to the ex- ploiting of one commodity. Surprise Element. The foreword to the list of - tlons observes that the joy of me!fln‘ is immeasurably increased by the sur- prise element. It is likely that some officials of the department will be thor- oughly surprised to see how some of their sugestions are received. The list also. stresses , the perplexity which comes to many carriers of Christmas cheer at this time in selecting appro- priate gifts, and asserts that its Dl% is to guide Christmas blyers who rea need help to combine utility with beauty in their gifts. 1t is pointed out that some com- modities are so obvious in daily Iife that the fact that they make appropriate gifts is overlooked. Emdphlsll i on the delight given children, especially by the quantity of gifts received, and buyers are urged to purchase at Christ- mas many of those utilitarian Broduc'.w which are sure to be bought wit the next month or so anywa: The pamphlet contains an alphabeti- cal list of tgresent.‘ and also classifies them for the individual. The larger list naturally is devoted to the children up to 14 years of age. But an exten- sive list is given for the men and women in college and in business, for parents, for the home and for automobile. The family auto, if list is followed, is lik€ly on it 31 new gadgets, ranging from pensive new tires to a special case. Tdea Not New. The_idea of a Christmas list is not new. Individual stores have issued and advertised such lists of suf for years. But the publication of such a list & Government department is some- what of a mnew departure, and 50 is the idea of devot it to ucts using one type of g mufl-fmlg the plan is as successful as its sponsors hope, it may make radical changes in some kinds of merchang and in both retail and national advertising. In the meantime, those who neither opposed to nor in favor of the idea and to whom it does not Special Dispatch to The Star.” & BALTIMORE, Md., December 8. Potatoes, white, 100 pounds, 1.26a1.’ sweet potatoes, barrel, 100a3.25; barrel, 2.50a3.00; beans, ‘bushel, 1. A 3.00; beets, 100, 3.00a4. ., ton, 18.00823.00; carrots, 5 caulifiower, crate, s i1 crate, 1.75a2.75; 2.25; kale, bushel, 3.5024.50; o 5: 1.25, toes, 1. turnips, bushel, 1.00a1.20; bushel, 65a1.75; cranberries, box, 3.00; grapefruit, box, 2.00a3.25; box, 2.00a4.50; pears, bushel, 1. 5, CHICAGO LIVE STOCK MARKET | opic; (Jucks X nery whites, 35a40; current recef] 34a35. Butter—Good to fancy creamery, pound, 32a37; ladles, 25a27; rolis, fi 25; process, 30; store packed, 15a16. ; Hay and Grain. ‘Wheat—No. 2 red Winter, export, 81: No. 2 red Winter, garlicky, spot, 81; 89a90; cob corn, new, 4.40a4.50. Rye—Nearby, 60a65. Oats—White, No. 2, new, 4515848; No. 3, 4415245, Hay—Receipts, none. General hay market strengthening. Drought has serlously curtailed nearby crops, chang- ing the entire situation. Sections here- tofore' shipping are now asking for of- fers of hay. Good clover mixed and timothy new hay will bring from 24.00 to 28.00 per ton. Wheat siraw, No. 1, per ton, 9.00a lg.gs: oat straw, No. 1, per: ton, 9.00a 10.00. Live Stock Market. Cattle—Receipts, 700 head; light sup- ply; market dull. Steers, choice - to prime, none; good to choice, 8.50 9.50; medium to good, 7.50 to 8.50; fair to medijum, 6.50 to 7.50; plain to fair, 5.50 to_6.50; common to plain, 450 to 525 Bulls, choice to prime, none; good to choice, 5.50 to 6.00; medium to good, 5.25 to 5.50; fair to medium, 4.75 to 5.25; plain to fair, 4.25 to 4.75; com- mon to plain, 3.75 to 4.25. Cows, choice to prime, none; good to choice, 5.50 to 6.00; medium to good, 4.50 to 5.50; fair to medium, 4.00 to 4.50; plain to fair, 3.00 to 4.00; common to plain, 2.5 to 250. Heifers, choice to prime, none; good to choice, 6.75 to 7.75; medium to good, 6.25 to 6.75; fair to medium, 5.50 to 6.00; plain to fair, 5.00 to 5.50; com- mon to plain, d.sfiootomigg.oomh COWS and Springers, 20. ' 80.00. Sheep and lambs—Receipts, 500 head: light supply, market steady; sheep, 1.00 to 3.50; lambs, 4.50 to 9.25. Hogs—Receipts, 1,000 head; moderate supply, .market lower; lights, 9.10 -to 9.35; heavies, 8.75 to 9.15; medium, 9.00 to 9.25; roughs, 7.00 to 8. ht 8.75 to 9.10; pigs, 9.10 to 9. Calves—Receipts, 75 he: ply, market steady. G_RAIN MARKET CHICAGO; December 5 (Special).— ‘The wheat market was little changed in price today. The strength in Liver= pool was offset by the beneficial mois- ture over the Winter wheat belt, pare ticularly heavy in the %our.hvnt" De= cember, old, opened at 767;a76%; new, B i o 8 y, Ol 5 o . the r, December, old new, 76% ; March, old, 78%; new, 78%%; M% old, 80%; new,