Evening Star Newspaper, December 8, 1930, Page 15

“ around its initial quotation. Cities Serv- . common :ssooalo.w. heifers, good and choice 550~ \ "~ Superpower opened in a lot of 4,000 Qil, Utilities and Investment mm | Trusts Register Lower ‘Frices. BY JOHN A. CRONE. Special Sispatch to The Star. ORK, December 8.—Trading on the Curb Exchange turned active after a lower opening today. Weakness ‘Was especially noticeable in petroleums, utilitiess miscellaneous industrials and investment trusts. Electric Bond & Share, after openi on a block of 5,000 shares at 4315, of 32, moved down to 43, absorbing offer- ings around the latter level. American shares at 1135, down 2, and held ice was off about a half point, but, turn. over was small. United Founders was + the most vulnerable spot in the invest- ment trusts as it sank to a_new low level for the year. American Founders, a subsidiary, equaled its previous min- imum price. Goldman Sachs during this period also was soft. % Humble Oil & Refining was the' first of the Standard Oil group to scrape a . new bottom for the year. Gulf Oil of Pennsylvania headed the decline in the miscellaneous petroleums: i Standard Power & Light and Long Island Lighting led the descent in public utilities. During this movement_Asso- ciated Gas & Electric certificates, American Gas & Electric and United Electric Service also lost ground. In the miscellaneous industrials Safety Car Heating & Lighting opened down more than 5 points, belatedly re- sponding to the omission of the usual extra quarterly dividend. Bunker Hill Sullivan Mining, for the same reason, opened lower today and attained its minimum mark for the year. Manufacturing, Inc., which been Gorham | under pressure for the last few sessions, lost more than 7 points by midday. Deere & Co. by a decline of 2 points hit a record low for 1930. Roan Antelope was the softest spot in the red metal group, which as a whole ‘was rather dull. Cheseborough Manu- facturing, which is allied with the Standard Oil group, sold off 9 points on a single sale of 100 shares. Bulova Watch preferred rallied more than 6 points. CHICAGO LIVE STOCK MARKET CHICAGO, December 8 (#) (United States Department of Agriculture).— ,000 head, including 29,000 fairly active; mostly 5-10 ¢ higher than FPriday's average; weights steady, top 8.40; bulk pounds, 8.25a8.30; few 8. . 8.25; packing sows, 7. K light vlight, good and choice, 140-160 pounds, 8.15a8.35: light weight, 160-200 pounds, 8.20a8.40; medium weight, 200-250 pounds, 8.20a840; heavy weight, 250 350 pounds, 8.10a8.35; packing sows, medium and good, 275-500 pounds, 7.10 87.65; slaughter pigs, good and choice, 100-130 pounds, 8.00a8.35. Cattle—Receipts, 15,000 head; calves, 2,000 head; lower grade fed steers predominating; slow; weak to 25 _lower on common to medium grade offétings; good to choice kinds scarce and fully steady; early top yearlings, 13.35; heavies, 12.50; better market on she stock and bulls; stockers, steady at 7.50 down to_ 6.50. Slgughter cattle and 'vealers—Steers, good and choice 600-900 pounds, 10.00a13.75; 900-1,100 pounds, 10.00a13.75; 1,100-1,300 pounds, 9.50a 13.50; 1,300-1,500 pounds, 9.50a13.25; id medium 600-1,300 pounds, pounds, 8.50212.50; common and medium, 5.0029.00; cows, good and choice, 5.50a7.50; common and medium, 4.008550; ‘low cutter and cutter, 3.00a 4.00; bulls (yeariings excluded), good and choice (beef), 5.2526.50; cutter to medium,” 4.2526.00; vealers (milk fed), good and choice, 8.50a11.50; medium, 6.5028.50; cull and common, 5.00a6.50. Stocker and feeder cattle—Steers, good and choice 500-1,050 pounds, 7.0029.00; common to medium, 5.50a7.00. Sheep, 20,000 head, slow; mostly steady; early feeding lambs, strong: bulk, good to choice, native and fed Western lambs, 8.0028.50; early top, 8.85, some held higher: Montanas, 7.00 to country; lambs, 90 pounds down, good and choice, 7.75a8.85; medium, 6.25a7.75; all weights, common, 5.00a 6.25; ewes, 90-150 pounds, medium to «choice, 2.00a3.75; weights, cull and common, 1.0022.50; feeding lambs, 60- 75 pounds, good and choice, 6.75a7.50. les in DOMESTT 5 e .+ 3 Alsbama Pw 4135 '67 3 Aluminum Co 55 '5: Low. Noon, Tr ‘s '35 9778 Cig Str Real $%3x '49 18 513 Cincl Btr Ry 6s B Qites Service s it Serv Pow 5las ' asnuEmsmsetansoulioaviomn S s 10 BT, 5 st w v iy Pw_5s 8 55 r SRS B s mann ool «33~508! N4 0 2 5 'ty B hio Pow 425 L 10 Onio Pow 55 8 Pacific G & E 55 '3 1Pacific Pw & L 5 Phila Elec 545 53 567 P8 5s B 58 97 Co 65 A 44 2 thw thy ”, EEMEE 222eaRR0p n ORI G&E 53 A '51 N 6s_'45 RPN il 1 cflflflgfll [ EERECCE ?,Esq Y " O [ 280 - i <2 b "/' ° &% :'b V% W% stocks designat iflmfim stocks &’ be sold Stock and Sales— Dividend Rate. Add 00. Open. 3% AeroSupply (B).... 1 4 5 Aero Underwriters.« 1 10% Affliated Prod 1.60.. 1% Allegheny Gas. . 1 Alexander Indust. . 23 % % % hed 150 Aluminum Co of Am, 1‘{ 16:‘% 163% 162% 162% 13 Alum Goods (1.20) 16% % 13 18% Am For Pow 4% Am Foundrs (b4-7 9 B4 Am Laund Mach (4). 50s 44% 40 AmLt& Trac 3% 5 43 % Am Maricabo. 5% 941 10% Am Superpowr (40c 87% Am Superp pf (6) 92 Am Superpwr 1st 8 Am Transfor (1.40) % Am Ut&G (B) (35¢) 41 Anchor P F (b10%) 131 Anglo Chil Nitrats 6 Appalachlan Ga: 3% Arcturus Rad T 514 Arkansas Nat Gas. 4% Ark Nat Gas (A). 7% Ark N G cu pf (60 3% Art Metal Work: 4% Asso El Ind Ltd 17 16% 5% 1% 1% 1 38% 19 5% Atlantic Fr & Sug Atlas Utl] Cero. As50G & El Asso G&EI pur Aviation Cor of Am Aviat Sec of N Eny Bahia Corp... . Bell Tel of Can (8).. 168 147 Bickford's Ine (1).. 2 16% Bigelow-Sannford. .. 50s Bliss (EW) Co (1).. 1 Blue Ridge Cp(p20c) 4 Blue Ridge cvpf(a3) 40 Borne Scrymser (2).. 1 Brazil Tr&Lt(b8%). 10 Bridgept Mach (25¢) 1 BriATcouB1.178-10¢ & Bulovacvpf (3%).. 6 Bunker HIll & S16% 60s Burco Inc. . % Burco Inc (war) Burma Corp (t31¢).. Bwana M Kubwa.... Cable & Wire B rcts. - ooeaman Carman &Co A (2).. Carnation Co (§1%). Celan ct 1st pt (17%) Cellulold Corp. ...... Cent Pub Sve A al.76 3 Cent Atlantic States. Cent HG & E n 80 Cent St El (ké0c) . Cent StEIpf (7).... 1 Cen St El cv pf n(aé) 150 Chat Ph Al nv (50c). 10 Chesebrough (18%). Cities Serv (g30c)... 2 Cities Serv pf (6 Clark Lighter (A)... Clev El Illum (1.60). Clev Tractor (1.60).. Cohn & Rosen Inc... Colombia Syndicate. Colon OMl....... Col Oil & Gas vtc. ... Col Pict vte (f1%).. Com Edison (8. Com & Sou war. Com Wat 8v (b6%).. Consol Auto Merch. . Cons Auto M cu pf Consol Copper...... 18 3% Consol Laundries(1) 2 124 % Cons Theaters . 10 . 3% Cont G & E pr pf 47). 50s 100 Cont Shares pf B (8). 3 48% Contl Share cv pf (6)225s 52% Cooper Bessemer (2) 5 2035 Cooper Bess pf A (3) 36% Card Corp.......... Corp Sec Ch (b6%).. Corroon & Reynolds, Cor & Rey pf A (6). Cosden Ofl.........0 Courtaulds Ltd 45c. . Creole Petroleum. .. Crocker Wheeler.... Crown Cent Pt new. Curtiss Wright ws Dayton Alr & Eng... De Forest Radio. ... Alr Ltd ret 50c.. Deere & Co (£1.20).. Deisel W Gilb (1%). Detroit Afreraft Diamond Match new. Dia Match cu pf (v), ler Die Casting. Dress S R (A) (3% ). Duke Power (§15)... 4 East G & F Asso..... cast St Pow B (1)... Etsler Electric Corp. Elec Bond & Sh (b6). El Bond & Sh cu pf 5. £l Bond & Sb pf (6). Elec Pow Asso (1).. Elec Pow Asso A (1) E1P&L 24 pf A (1).. Elec Shareholdg (1). Empire Corporation. Emp G&F cu pf (8)., Empire Steel Corp Engineers Gold. Europ E Ltd A (60c). Europ Elec deb rts. . Fabrics Finisking Fairchild Aviation Federat Met (1134).. Florida P&L pt (7). Flintkote Co (A). Foltis Fischer Corp.. Ford Mot,CanA12.10, Ford Mot Ltd 37%¢ Fox Theater Cl (A)., Garlock Pkg (1.20).. Gen Alloys (80¢).... General Aviation. General Baking..... Gen Baking pf (3)... Gen E Ltd ret (50c). Gen Empire Cor (1).: Gen G&E cv pf B (6) Gen Laundry Mach.. Gen Theat wi... Gen Thev pfw.i.(3)c Gleaner Harvn (2).. Globe Undwritrs 30c. Gold Seal Elec new. . Goldman Sach TC .. Gorham Inc (A)..... Gorham Inc pf (3).. 35 Gorham Mfg vte(£2) Goth Knitback Mch. Gramaph rets (20c). Graymur Corpn..... Grt At&Pac nv 15.25. Grief & Brpt X (1).. Groc Strs Prod v.te.. Ground Gripper (1). Gulf Oll of Fa (1%). Hall Lamp(40c)... Hartman Tobacco Hecla Mining «1). Hormel (Geo) (2)... Horr & Hard (2%).. Hudson Bay M & S.. Humble O1l (123%)... Hydro Elec Sec (2).. 2% Hygrade Food Prod.. 15% Imp Ol of Can (80¢) 16% Imp Oll.Can reg(50c) 19% Ind Pipe L nekw(13).. 81 Ind Fin ctfs (b10%) 17% ind Ter [lu O1l (A) 48% InsCo N Am (13). 7% Insurance Sec (70c). 7% lLotercoast Trade (1) % Intercontinent I'et n 4T3 Intl Hydrocv pf3% 13% 1int Peiroleum (1) 6 Internat Utll (B) 4 InterstateEquitl 30% Interstate Ecn pf(3) 10% 5 Interst Hose Mill 18 3% ltaltan Superp (A I 4“ &% Johnson Motor. - » T T T T Y - JO R TeTors) 24% 7 7 34% 1 137% 3 20 8% 26% 0% 3% 6% 23% are sold in one hundred-share lots ted by the letter s (80s) (2508) in’odd lots only. High, Low. Close. 4 4 8% 11 2% 2% 16% 16% 4% 5 % 13% 10 12 16 24% 6% 34% 137% 20 16% 5 20 16% 44 42% 92 8% 1 2% 16% 4% 5 % 14 10 12 2% 16 24% 6% 34% 137% 137% 20 16%; 104% 104% 12% 15% % ™ 1% 33% 11% 4 1% 6% 1% Blg 12% 15% ™% ™% 1% 3% 11% 4 1% 6% 1% ~Prev. 1930.~ High. 56 55% 14% 12% | Received by Private Wire Direct to The, Star Office Stock and 3 Dividend Rate. 29% Lerner Stores (2)... 20% Lone Star Gasn (1).. 3 Long Iald Lt (66c). . Louisiana Lan & Ex. MacMarr Stores (1)a Magdalena Synd.... Mangel St pf (63%)..150s Marcon! I Mar (38¢), 1 Marion Steam Shov., 4 it Add 00. Oven. 1 32 15 28 4 Mass Util AsS0....0y Mavis Bottling. Mayflow Asso (32).. . Mead Johnson(t43 ). Memphis N G (170¢c); Mer Ch &8 (1.60)... Mesabl Iron.... v 1 Met & Min Ine (1.20), . Met T Co pt pf 3%, Met 5 to 50c Strs pf., Mexico Ohio Oil. - M=o 3 M1d West Ut (b8% )., Midvale CO (4)....a MoKanPL (b10%). MoKan PLVtc....u 1 Mon WP PBpf(1%) 50s Moody's1Sptpt (3), 8 Mount Prod (1.60)... 13 Nat American Co.... 11 Nat Aviation... . Nat Bond & Sh(75¢). NatDPrpfA (7).... Nat E1 Pow A (1.80) Nat Fam S (b10%).. Nat Fuel Gas (1), Nat Investors......; Nat Sh T Sec A $50c. 4 Natl Stl Car, Ltd (2). 508 NatSugarNJ (2)... 4 - B o o S 2% 88% 51 Newmont Min (£4)., Newport Co (2).even N ¥ Pet Royalty.. N Y Tel pf<6%).... Niag-Hud Pow (40¢c) Niag-Hud Pow A w.. Niag-Hud Pow B w., Niagara Sh, Md (40c) Niles B Pond (3) Noranda Mines. . Nordon Corp Ltd. ... No Am Aviat A war.. Nor Central Texas. . Nor Europ 011 Corp.. Nor Ind Pub.S pf (6). s 97TH Nor St Pow A (8).... 130 Overseas Secur (1) Pac G&E 1st pf (1%) Pac Western Patterson Sarg (2).. Pender DGr A (3%). Pennroall Cp (20c).. n Wat & Pow (3) opL&PAa240.., 2 Pepperell Mfg (3)...110s Petrol Corp war. . Philippe (L) B t Pitney B P n (20c) Pitts Plate G1 (2). Plymouth O11 (2) Poterero Sugar. Premier Gold (24c. % Prince & Whit (26¢). Prince & Whitely pf., Prod Royalty (f1)... Prudential Invest, .. Pub Ut Hold (50¢).. Public Utll Hold war Pub Ut Hold xw 50c.., Radio Products (2)., R R 8h Corp (26c)... Rainbow Lum Pr A.. Rainbow Lum Pr B. . Reeves (Dan'l) (1%) Relter-Foster. .. Reliable St (b5% ). Repetti Candy. Reybarn Co.. Reynolds Invi . Roan Antelope Min. . Rock Lt & P (90c). Roosevelt Field Inc. Root Ref cv pr pt. Rossia Int Corp. Russek’s 5th Av 1.60, Safety Car H& Ltg. . 4 Sateway S w(zd)(C) St Regls Paper (1)., ‘Salt Creek Prod (2) Saxet Co........ Seaboard Util (50¢). Sec Corp Gen +40c).. Seeman Brothers(3). SeibeNing Rubber. .. Selected Industries. Selec In all ctfs(4%) Sentry Safety Cont. Shenandoan Corp. ... Shenan Corp pf (a3). 4 Stlver (Isaac) pt (7). Smith (A 0) (2)..... Sou Fenn Ofl (12%). SoCalEdpfA (1%). SoCal Ed pf B (1%), SoCal Ed pfC (1%). Southern Corp. ..... SouthldRoyaity (60¢) 8 W Gas Utllities. ... Standard Motors. Stand Ofl Ind (23%4).. Stand Oll of KY'(12) Stand Oil Neb(t3%). Stand O1l Ohto (23). Stand O Ohlo pf (7). tand Oll of Ohlo(5). tand Pow & Lt (2). Stand P& LB (2).., Stand Public Srv A Starrett Corp. . Stein Cosmetics. Strauss Roth Sun Inv. .. Sun Inv pf (3). Sunray Oil (40c). Swift & Co new (2) Swift Intl (13%).... Swiss-Am El pf (6)., Tampa Electric (32) Technicolor Inc. Texon Oil&Land ( Thatcher Sec Corp. .o 6% °9 s R 0NN Ce 0 T S e O I NG AN B AN - Tobacco Pr Expo Todd Shipyard (4 Tri-Cont Corp ( wi Tri Utilities (31.20). Tublze Chatel (B). Ungerleider F Corp Union Am Invest Un NG of Can 11. Unten Tobacco. ..... Utd Carr Fastener. Utd Dry Docks. Utd Elec Sve (1 Utd Found b2-35 sh. Utd Gas Corpn. Utd Gas (war). Utd Gas pf (7)...... Utd Lt & Pow A (1), Utd Lt & Pow pf (6). Utd Milk Prod pt. Utd Profit Sharing. U S Dairy (A) (5). U S Dairy (B)... i US Elec Pow ww U S Foll (B) (1) U 8 & Int Sec 18! US Linespf1).... US & Oversens war U S& Over ctfs 28%c 18 US Playing Cardsc4)126s 1 - SN S Ind, Utllity Equitl Vacuum (14%) Veeder Root (2%)... Walgreen Co. .. Walker (H) (1) Watson (J W) Co Williams R C (1.40). 3 ., Wil-Low Cafeterias. Zonite Products 1), RIGHTS. Expire. 11% Com Bdison..Feb 2 8% Peop GL&C...Jao 1 'Experience'd Advett.ivsgrsz Prefer The 2 57w 15% 6 6 114% 114% 10% 10% 2 2 5% % 180% 101% 101% % 1% 14% 14% 6% % 8% 4 4 1% 36% 22% 38 54% 54k 115% 115% 103% 103% 35% 354 36% High, Lo 82 284 1% | Treasury to Pay 1 3-4 Per Cent Interest on Six- Month Issue. 3% 2% 9% 2% 5% % :; By the Assoclated Press. 10 ‘The Treasury will borrow $400,000,000 17% | to pay off its December 15 obligations 1 |on certificates bearing record low rates % | of interest. 1t announced yesterday a $150,000,- 2 | 000 series bearing 1% per cent interest :% % six months, and ;‘: ue??: 3250,000.‘- for a year, payirg 1% per cent. 28 | These rates are the lowest since the 19 | war and officials remembered none gs 60 low in the country's history. Ease of 6% | the money market at present made % | them possible. The Government has $672,000,000 to 29 | pay at the middle of the T:on . Cer- 5% | tificates totaling $480,000,000 are ma- 6 | turing, $90,000,000 of interest on the 5% | public debt will be due and two issues 29% | of Treagury bills, each $51,000,000, will 105 |be payable. Besides the money from 23% | the new issue, $12500,000 is 5% |in on foreign war debt payments and 22 | about $400,000,000 in quarterly income 4% | tax payments. 16%| At the close of businesy December 4 36 |the Treasury had a defict of $314,021,~ 29% | 675, with total collections & far in the % | fiscal year amounting to $1,156,479,441. 1% | The income tax payments due em- 11% | ber 15 will be the last under the 1 per cent reduction allowed for the year. 88% [ Next March 15 payments at the old 61 |rate begin. On the revenue re- 2 | celved at that time and in June will L the actual amount of deficit 1:'4 upon which the fiscal year will close. 114% Baltimore Markets 10% 2 5% T 24y Special Dispatch to The Star. 13% | BALTIMORE, Md., December toes, white, 15% 6 114% 10% 1% 5% T 24 , | past 10 weeks, brokers' 2 by the Federal -Reserve mem- | tem 25, 2.00a4.00; caulifiower, celery, crate, 1.50a2.75; 82.50; cppers, crate, 1. e 10681 25: eppics, buish: Triit, box. 15043 00; or m"“"s‘é’“ grapefru! X, 1. oraj X, la 1.75a3.50; pears, bushel, 1.0082.50, Dairy Market, Poultry, alive—Turkeys, pound, 23; old, 18a23; chickens, Springers, 22a25; Leghorns, 18a20; old hens, 18a25; Leg- horns, 14a18; roosters, 13a15; ducks, 13a20; guinea fowls, each 30a60; pig- eons, pair, 20a25. Eggs—Receipts, 945 cases; nearby firsts, 30; hennery white firsts, 32a35; Southern firsts, 28; current receipts, 28. Butter—Good to fancy creamery, pound, 33a38; ladles, 25a27; rolls, 20a 25; process, 30; store packed, 15a16. Live Stock Market. Cattle—Receipts, 750 head; light sup- ply; market firm. Steers, choice to prime, none; good to choice, 8.50 to 9.50; medium to good, 7.50 to 8.50; fair to medium, 6.50 to 7.50; plain to fair, 5.50 to 6.50; common to plain, 4.50 to .2 Bulls, choice to prime, none; to choice, 5.50 to 6.00; medium to , 5.25 to 5.50; fair to medium, 4.75 .25; plain to fair, 4.25 to 4.75; com- to plain, 3.75 t0 4.25. Cows, choice rime, none; good to choice, 5.50 to ; medium to good, 4.50 to 5.50; fair medium, 4.00 to 4.50; plain to fair, to 4.00; common to plaip, 2.25 to Heifers, choice to prithe, none; good to choice, 6.75 to 7.75; medium to good, 6.26 to 6.75; fair to medium, 5.50 o » Sg8 v-g.i §288 8 ,.m 28 1.00 to 3.50; lambs, Hogs—Recelpts, 3,200 head; moderate sugply. market higher; lights, 9.10 to 9:35; heavies, 8.75 to 9.15; medium, 9.00 to 9.25; roughs, 7.00 to 8.10; light pigs, 10 to 9.35. , 500 head; ady. Hay and Grain, ‘Wheat—No. 2 red Winter, export, 8: No. 2 red Winter, garlicky, spot, 8 December, 81. Corn—No. 2 domestic, yellow, old, 88a89; cob corn, new, 4.40a4.50, Rye—Nearby, 60a65. o-u—whl:es, No. 2, 4514046; Y2845, Hay—Receipts, 36 tons. _General hay market “strengthening. Drought has serlously curtailed nearby crops, chang- lng the entire situation. Sections here- tofore shipping are now asking for offers of hay. Good clover mixed and timothy new hay will bring from 24.00 to 28.00 per ton. Wheat straw, No. 1, per ton, 9.00a 10.00; oat stresw, No. 1,. per ton, 9.00210.00. GRAIN MARKET CHICAGO, December 8 (Special).— The wheat market was easler in tone today because of the weakness in Liver- pool, but support was uncovered on the decline. December, old, opened 77%a 76%%, new 76%: March, old, 781,a78%; new, 78'2; May, old, 81a8lls; new, 81';. After the fir: alf hour Decem- ber, old, 77; new, 76% ; March, old and new, 78'%; May, old, 81; new, 81%. Corn was lower under selling caused bir the heavy movement. December, old, opened 72%a72!; new, 72l5; March, old, 75,a75%; new, 76; May, old, 774a71%; new, 78a77%. After the first half hour December, old, 72%:; (new, 721;; March, old, 7512; new, 76: May, old, 77%; new, 77%. Oats were er. December, opened 347a34° March, old, 35 13575; May, old, 36%a36%: new, 36 36%. After the first half hour De¢em- r, old, 34%; March, old, 35%; May, old, 36%; new, 3615. Provisions were steady. . NEW YORK COTTON NEW YORK, December 8 (Special). —Cotton prices were 3 to 7 points lower at the opening of the market today. % | Developments over the week end did not change the existing situation, with buyers in an indifferent mood and the South ready with new offerings. Trade purchases were at a minimum. ormnc prices were December, old, 10.38, off 3; December, new, 10.3: 6; January, old, 10.38, off 4; January, new, 10.39, off 3; March, 10.66, off 7; May, 10.91, off 6; Jyly, 11.10, off 6, and October, 11.28, off 5. Prices dropped 4 to 12 Boints when the market reopened after the suspen- sion of trading for the announcement 9% | of the Department of Agriculture esti- 14 | Mate of production. department. timated the 1930 crop at 14,243,000 as of December 1, compared with 15| 14,438,000 estimated as’of*November 1. final 1929 ' crop was 14,828,000 Al new, ol 2wl ¢ BANK OF BOWIE. 6%| BOWIE, Md., December 8 (Special). 103 | Bela” thelr Temuley menthly moting o 8% | the bank m Sa 9% | and in view of undivided ts the usual dend on the ers of record 1% 9% 9% ) t; William Luers, ; Bernard A. Maenner and Dan- fel B. Lioyd. WY, FORK, Deembe 4 o 38 CORPORATION REPORTS — TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS NEW YORK, December 8.—The fol- lowing is a summary of lmghfll cor= !fil'—l!tl:sng. plnc N by\' slm' the ., Inc., Ne Associated Press. gste s Weekly News Review. Activity on the Stock Excha con- tinued restricted during the pn‘;‘:e week. Volume of transactions for the five-and- ding session averaged about against 1,800,000 shares in the previous week and 4,000,000 in the slnp\?“” period. Prices drifted irregularly lower, index of quotations losing 2.8 points, or 2.1 per cent. The explanation sug- gested for the current apathy in the share market 1s that speculators and investors have failed to anticipate the turn in business on several occasions this year and now are awaiting definite evidence of economic betterment before extensive purchases of equity Bonds were soft, the price averages falling to new record lows .in several sections of the list. Commodity mar- kets generally displayed a firmer tone. In the metal group siver and tin were off substantially, but copper was ad- Yyanced J2 cent to 11!, cents a pound by custom smelters. ~ Other products registering strength were rubber, silk and cocoa. Sugar quotations were lower and coffee prices declined steadily on unfavorable reports of the Brazilian situation. Money rates were unaffected by wr:o month ml‘rix or seasonal demand. ney remained at 2 per cent, with funds avallable outside the -exehange most of the time at 1} per cent. Vol- ume Federal reserve bank e week o Week ended December 3. Total was an increase of $71,000,000 over the pre- beeed1 ling tl‘:e"k.’ aver: low average of e weel A Bl e sy 11,000,000. This d; was considerably smaller than in .‘;."y" cor- responding period since the current downward trend in borrowings first be- came evident on October 7. st figures of $2,111,000,000 is the lowest since April, 1925. In the borro as the 1 bz mn in the er New York dist: have been reduced by u,m,owflo’v‘)ofm' Industrial ‘The usual indices of industrial - ations published during the weekwg- flected a further recession of activity to sgures. gs s, covering the week ended November 22, aggregated 779,757 cars. This total, in addition to being the lowest of any iike period since 1921, is the smallest of .nfld-“ek' with the exception of two holiday weeks at the end of 1929 and the be; of this year, since May, 1922. Electric power generated in the week ended November 20 declined by 3.8 cent from the total for the like week of 1929, contrasting with decreases Tanging from 4.4 per cent to 6.2 per cent during the early part of November. However, t this change in trend of production is likely tu be temporary is suggested by the National Electric Light Association, which explains the result as being due largely to the greater use of electricity made necessary by the storms and cold weather in the North- ern States during the final days of last month. Steel ingot production in the week ended December 1 was reduced 1 per cent on a daily ‘average to 39 per cent of capacity, compared with 43 per cent, two weeks ago. The most interest- ing development in the steel industry was the advance in price of bars, shapes and plates of $1 a ton by leading pro- ducers. It is felt this move is a con- structive one and may stimulate a gen- eral rise throughout the list of steel products. At current levels, prices for deliveries in the first three months of 1931 represent a reduction of about $5 4 ton, compared with 1930 quotations. Building contracts awarded in the 37 States east of the Rocky Mountains during the last week of November fell to the lowest daily average since March, 1929. Total value of contracts awarded during the month of Novm- ber was $253,373,700, a shrinkage of 354 per cent compared with a year ago. For the 11-month period the de- cline was 21.4 per cent. Oil Industry. Statistically, the oil industry con- tinues to show improvement. Re- finery operations are currently at the lowest tgmm on record and crude out- put is the lowest in several years.~ How- ever, with the close of the heavy con- sumption season extreme competition and necessary dumping on the part of a number of small producers have forced prices of both crude and re- fined products to the lowest levels in many years. At current quotations earnings of practically all companies have been reduced to a minimum and indications are that fourth quarter re- sults will carry full-year profits to some 40 or 50 per cent below the 1929 results. The Companies. American Capital Corporation omits semi-annual class A dividend; paid 50 cents June 2. American Car & Foundry completing designs for tank cars of over double present capacity. Associated Apparcl Industries share earnings year ended eNovember 30 esti- mated $5.25. Cerro de Pasco Copper Peruvian mines to be reopencd. - Chicago, Burlington & Quincy Rail- road share earnings, 10 months to Oc- tober 31, $11.07, against $14.66. Commercial Investment Trust—Fi- nancing agreement proposed between Commercial Factors, subsidiary, and Bachman, kmerich & Co. Becker (Alfred) & Cohn preliminary October 31 balancey sheet figures indi- cates current assets five times current liabilities, against three times year ago. Drug, Inc, 1930 earnings estimated at _$6 share, against $6.35 in 1929. Erie Raflroad I. C. C. allowance of increased depreciation reserve permits further equipment rehnabilitation. Exchange Buffet November sales off 17.6 per cent; 11 months, off 7.9 per cent. Fajarda Sugar Co. net income be- fore taxes year ended July 31, $222,817, against deficit $720,881 in 1929. National Department Stores omits geu.mrly dividend; paid 25 cents Octo- Irt, National Tea November sales off 10.8 per cent; 11 months, off 5.2 per cent. Pan-American Petroleum & Trans. minority stockholders sue for resump- tion of dividends and injupction t, Standard Oil, Ind, share ex- change offer. ) Pandem Oil agreement for acquisi- :h};‘l“nf g.nno.nop* sh:r;s 131’ stock not ulfilled by petrgleum holdings. Phel, merger negotiations credit averaged $1,093,000,000 in | OF may bep.lmmmed with Calumet & Ari- zona Mining. 01.\ver“o Pl'::m !:qulpénent Imnllenn Te- ported ve agreed upon main pro- visions of financing plan. he Roercan Teevuone o TeLesu Cowprey g hléi:l;lmvidend i 1 ar quarter!] dmd.:’ef Two Dollars and T‘m\q-;l:: Cents (82.03) pec share wil) be ESTIMATES VARIED ON UNEMPLOYMENT Seasonal Factor in Situation Confributes to Total of Jobless, « BY J. C. ROYLE. Controversy is still raging over the employment situation, Some of the high officlals of the Department of Commerce feel personally that, like many a modern miss, the situation is not so bad as it is painted. State and national labor leaders declare it is get~ ting worse. Neither side, however, min- imizes the seriousness. Statisticians in the States now work- ’,:f on a census of unemployment ad- t it is & most difficult task to arrive at accurate . They say that & man out of work may be counted in one center, jump into his flivver and be counted again in an adjoining town. Estimates Vary. Many Federal officials agree that the total number of people out of work is extremely large, but they call attention to the fact that is no small num- ber who not only are out of work now, but who have been out of work for years. Their chances of getting a job are slim even in the best of times and their anxiety to secure one does not keep them awake nights. O‘x&':umoflty places the real total pr . but 09,000,000 | O 1s seasonable variation. They declare the time of year has now arrived when outdoor workers of all de- i and November as in other months. Work on the high- ‘ways in the North has been checked by cold and snow and the men employed on_the Great Lakes have closed their season. - No one should minimize the serious- ness of the position of labor but to over emphasize it i8¢ to increase its e B Jobe 108t provide lor less. %nhvlevineflmilmbmbtd o, to some extent, by the American Federation of Labor itself The federa- tion states that if the 26,000,000 workers who have jobs feel that a lay-off may come to at any time, they are inclined to cut down their purchases to save money. A cut of $1 per worker would equal the wages of 250,000 for a month, the federation asserts.” ‘' Effect on Officials, State and Federal, who are striving to relieve the condition of the workers, point out that if an erroneous idea as to the total unemploycd is dis- seminated, emplv{m themselves will be inclined to curtail operations and there- by cut down the number of jobs available. ‘The Federation of Labor says for- mally: “Definite signs of improvement are multip), in individual lines. The catton, 1 encouraging.” Bulldng has cotton, e ng. increased slightly. There are signs that the price decline is nearer bottom. Business men are ning to take out mo;-: lmhr'h and order more ml‘chg‘n tools, which means a prospect of - &r:ved efficiency and increasing opera- ns.” (Copyright. 1930.) First Mortgage Loans Lowest Rates of anterest and Commission Sompeny. Christmas Money in Guaranty Securities The safe notes and bonds sponsored by this responsible corporation offer you an as- sured income, Capital Resources, $3,800,000 In Our Own Building Organized 1879 JOHN JOY EDSON, President Assets . ++.$5,901,122.48 Subscription 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. WALTER S. PRATT, Jr., Surplus & Profits. .. COMPANY PLANNING PAY ROLL INCBE‘S_ES Virginia Unit of Edison Firm Will Step Up Production Schedule. By the Assoclated Press. ;Ei;fi g R 2 g2 e plant will be engaged manufacture of all kinds 2 -mlhne-. including, tl nc electric stoves, S, waffle irons, percolal Theaters. e A e it How do you Measure Earnings? The real margin of safety for the bondholder, when junior and senior issues exist, is ex- pressed only in the ratio of earnings to all interest obli. Pl ings for Associated Gas and Electric Company bonds are 222 times inter- est irements on this ““overall” basis. A n%r'iln.t of an advertise- ment, * Barn Without the Farm,” pointing out the sig~ nificance of the “overall” ver. u;- the “times after” method of measuring earnings, be obtained by writing o General Utility Securities Incorporated 61 Broadway New York I WILL SELL $500 430 and Locust 1st mort- irginia Plate Glass, bid. tnMan & Inv. com,, olf, 140, 100 Units Vasco Produ 100 Vasco Products pfd. 200 ?‘x‘k- Martin's Link Gayety Theater, International Ban 1. 50 Great Nat. Insurance, @ 7. 10 ln!;lunonnl Finance units, @ 50, 80 North. American Develop- ment, E. C.. @ 35. 100 Washington Baseball, bid. 28 Peoples’ State Bank of Cherrydale, @ 25. 80 Clarendon Trust Co. @ 3L 2 Lincoln Hall Assn., bid. THOMAS L. HUME (Established 1899) 1412 G St. Nat. 1346-1347 Equitle Co-Operative Bld.Ass’n 51st YEAR COMPLETED +-$1,818,655.98 We will gladly explain our systematic plan for saving! 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