Evening Star Newspaper, December 13, 1930, Page 15

FINANCIAL - AT SHORT SESSION * Lowest Point Reached in Two Years. BY JOHN A. CRONE. > @pciAl Disphteh to The Star. e TR, e 1 today moved downward at in- -“!!'I-mn.d‘ %ump{mg of Shrena: Fubiie ubiiion petoleums, mites Srusts and mwmt- industrials , opened on a X at 40%, off 1%, and later got to 395 Clties Service, after . at 1615, off 15, moved frac- lower. € “Combined liquidation and short sell- ing drove prices to the lowest level for the year and thereby the bottommost t reached ln‘ two ".trllfi g Selling began in the u les, carry- ing Associated Gas & Electric A, Com- =down . Foreign selling has — 1’1: :‘:ugtumm Oil " sécurities SRR Chnatitute oné. of tho most. : ghnl groups of dividend payers on curb. Pronounced weakness car- ried Humble Oil, Standard Oil of In- diana, - Standard of Kentucky and + Standard of Ohio to mew low ground, ::: the sel . to Test of © Guit Oll of Pennsylvania, which has ] 532 23383282 g 3gendraeds R FEFR T EF £ F FITEES i §Sadagdy 223323238383338: (553 Padp | REFSAE S I B, = 33333322388338: ] £ & 4 i i & & e =geaSEanes: Geiiig =ceeaSEare-ge o g Tl wazasgnenss F ¥ GoFrdE FEF ,. Sflflflfi iy ot PR 1l;€ s228 g -.E dod i Rra 3 38ssSeesszssiisey 3 0P » Fa ) S Eomge :uu}s. St 434 S 22RRRS 222, & ORRRE R N 2233 W g}; N ES 28 & sez3Es 5 555y X 2IRSE2E22RRR2! - S38uesans8s e g S38ugeey 2333388 ISk =i * I 32282258238 EEE W e 3332233253 S ds -;;_-m::::ss: jg‘( 2T o e e SITRIRSISNRR! 3 R F I & & E SESS 3. Bl*&;{ 5 o al #flfl;l:l!flls 3 23838 o & s FE 3333322 & st y‘l SHARESWEAK | [NEW YORK C ritish & Con! Am C P&L (A) (a3). AmC P&L B (10%). Am Com P A (b10%) 37 8% Am Cyanamid (B, 22 4% Am Equities. . 76% 1614 Am For Pow (war) [ 4 Am Fo rs (b4-70). 1 49 27 W% 6 28% 13k 9% Am Superpowr (40c; 8 Am Thread pf (25¢). 3% Am Ut&G (B) (35¢). 4 Anchor PF (b10%). 8 4% Asso El Ind Ltd 30c. 461 16% Aaso GEE A (at2 40) 114 1% Ass0 GAE (A) dbrts 28% 5% Atlantic Coast Fish 1% 14% 5 1% 85 9% 6 AviatSecof N Eng. 7% 1% Bahia Corp.. 18% 2% Bellanca Alreraft 1674 146 Bell Tel of Can (8 0% 13% B B i 11% Blumenthal (8). 20% Brazil Tr&Lt(h8%). Co(60c) 1% Br Celanesercts. ... 2% BriATcouB1.17 840¢ 43 ' Buckeye P L (4), 50% Bunker Hill &St o eoleommSuSee - 6% Cent&Swn Ut pl(b6). 11% Cent Pub Sve A ALT6 14% Chat Ph Al nv (50c). 42% City Sav Bk Litd 4.1 F B T Consol Copper. 82% Cons Gas Balt (3.60 10 Consol Laundriest1) 2% Cons Royal Ofl (50¢c) 1% Cons Theaters. 49 Contl Share ov pf (6) 4 Gord Corp. . 4% Corroon & Réynolds. 1 en 9% Courtaulds Ltd 450, 3% Creole Pétrol 7 Crock v nz Cr Cork Int A (1) Cuban Cane pr opi % Curtiss Wright war. 4% Darby Petrolm n (1) Dayton Air & En, Deere & Co (g1.2i De Forest Radio. ... Detroit Atreraft. ... Diamond Mateh new. Dia ot (8). DressS R (A) (3%, Driver Harris new Dubilier Con¢ Duquesne Gas Cp wi. Duranat Motors. Duval Tex Sul wi Bast G & F Asso. 19% El Pow & Lt op war.. 9 [Elec Shareholdy (1). 1 ‘Empire Corporation. 31% Emp Pwr pt 0). 1% Europ Eleo rts. ., 6% Ex-cello Alr & Tool. . % Fageol Motor....... 1% Fairchild Aviation. . 3 2% Fox Theater Cl (A).. 14% Garlock Pack (1.60). 5% General Aviatios 1% General Baking 27 Gen Baking pf (8). 9% Gen B Ltd ret (50c). 38% Gen G&E cv vf B (6) 250 26% Gen Thev pf w.i.(3 +9 Gilbert (4C) (1).... 5 Gleaner C Harv new. 50 Glen Alden Coal (8). % Golden Center. . 6% Gole Gold Seal Elec pew. Goth Knitback Meh. Guard Fire Asso (2). Gulf Ofl of Pa (1%). Hecla Mining (1) Helena Rubenstei Hormel (Geo) (2) % 20 65% Hvdro Elec See (2).. Hygrade Food Prod. Imp Chem In& (25¢). imp Ofl of Can Ind Ter [llu O/l (A).. Ind Ter lilu Of] (B).. insCo N Am (t1).... Insurance See (70c). MmN B BB Bromon » Internat Produet Int Superpower (f: Int Utilities A (334 Internat Uti] «B) Int) Ul pt of (1) Interstate Een pf {rving Alr Chute «1) ftalian Superp (A),. italian Superp war. . Jer Cen P&L pf (7). . B0; Jonas & Neupt (3). 2. TN P N L T LeonardOil. . Libby McNefl& L. .. Lity Tulip Cup (1%) Loew's Ine war! 20% . Lone Star Gas n (1) B5% Long 1 % Louisiana Mangel St pf (63).. Marconi I Mar (38¢). Mining Meoh H 1% 1% % 3k 3% 147% 147% 18% 15% 34 No Am No Am Nor 8t Nor 8t Peop L. Pruden b Ut Public Pub Ut Pyrene R R Sh Baxé Schulte lect I Shenan Smith (. Solar R Stand S! Tonopa U u u US L Wayne Wayne West V Peop G Dividena 1 by 55 or URB MARKET Mo Kah PL (b10%). % Mo Kan P L vto. Moody's 1 8 pt pf (3. Niag-Hud Pow (40¢c) Niag-Hud Pow A w. Niagara 8h, Md(40¢) Niles-Bem-Pd (13).. Noranda Minet Nordon Corp Ltd. Radio Products (2).. Rainbow Lum Pr A Rainbow Lum Pr Reiter-Foster. . Rellance Reybarn Co. Reynolds Invest, Rich Rad cum pf.... Roan Antelope Min. . Rock Lt & P (90¢)... Bafeway 8 w(2d) (C) Bt Anthony Gold. ... 8t Regis Paper (1) 5% Salt Creek Prod (3).. Co..... Schietter & Zander. . Seaboard Util (50¢). Ser Lock & H (50¢). Selected Industries. Selec In all ctfs(4%) henandoah Corp. Sherwin Will (14%). Silica Gel ctfs...... Sing Mfg Ltd (23c¢).. 80 Am Air Lines Sou Penn O11 (12%), SoCalEdpf B (1%). SouthldRoyalty (60¢) 8 W Gas Utilitie: Spanish & Gen rets. . 8td Cap&Seal(12.90) Stand Invest Cum pf. Standard Motors. ... Stand O11 Ind (2%). Stand Oll of KY (12) 14 Stand Oll Ohlo (2% ) 1508 0 Stein Cosmetics Swift Intl (1334), Syracuse W Mch(B). Taggart Corp (1) Tobacco & All 8 Todd Shipyard (4) Trans Lux DLF 8 Tri-Cont Corp (war) Tubize Chatel (B).., Ungerleider F Corp. . Union Am Invest. Union Ofl Asso (32). Utd Carr Fastener. ks, Utd El Sv pr war. Utd Found b2-36 U 8 Gypsum (12.10), Foil Co B (50c) /. & Int Secur. ... & Int Beo 18t (5) ines U8 & Overseas war. U 8& Ov Util Pow & Lt (a1) Utility Equittes Vacuum (14%). Van Camp Packing. . Vie Finan Cor (40c). Walgreen Co. . West Auto 8 A (3) West Pow pt (7)., White Sew M db rts.. Winter (Benj)....., Zenite Produets (13, Received by Private Wire Direet to The Star Office . g ] g Rate. Add sld Lt (56¢). . 30 Lan & Bx. 1% H33 2 Stores (1). 8% 2% 9 % % % 1 20% 17% a0l s witias Bl Corp of Can.. P 1st of (1) s 5 o e e S lew Brad Ol (50c). Eng En Pow (2) Aviat A war. Ut 1st pf (6). Nor Central Texas. . Nor & So Am Corp A. 4 Nor Europ O1l Corp. NorPL (15). Pow ptf Pow A % Novadel-Ang (t4%). Ohilo Copper........ i Pac G&EH 1st pf (1%) 8 Pac Western Oil. Pande: Pantepec Oil. ! Pender DGr A (3%). 50s Pennroad Cp (20c).. Penn-Mex Fuel (3 51 1 & P AaZ.4 Philip Morris (A) Polymet Mfg (bi%). Power Corp, Can (2). Prince & Whit (25c). Prince & Whitely pf. tial Inve: Hold (50c) Util Hold war Hold xw 50c. Puget S P & Lt pf(6) Mfg (30c)... Corp (26¢).., A) e m oD weS 25® Un bc-§1 8t.. nd pr (53 ) ™ 19004 000 R OB TR0 31 1+ Corp pf (a3). g A O) (2) efining. . 8 COC TR TN @ ) o 51 {lver Lead. .. - h Belmont. Sen - = N T of(1).... Ext (2) Pump. Pump Coal & Cok riled by f 55| BRouta Copper: e wiatout Exvire LAc...Jan 16 9 "% e M jast qu 1y or semi-annual S B el d 9% Baltimore Markets Special Dispatch to The Star. ers, 11a13; ducks, 12ali guinea o!owll. each, 30260 663 cases; whites, firsts, 32a33; ; current receipts, 28, —Good to fancy creamery, pound, 31a35; ladles, 25a27; rolls, 20a 25; process, 20a30; store packed, 15a16. GRAIN MARKET CHICAGO, December 13 (Special) — first 17; new T13%; May, old, round whites, 1.35; I1daho R fancy, shade n‘q Ne. i |old, 73% to 73%; new, 73% to nearby | be: 18%:; to 5Y; new, 153 to After the first half hour Decem- old, 70%; March, old and new, May, old, 75%; new, 15%. Oats were easler. May, old, 75 16%. ) 33%2; March, old, u'-’Z"’ Mu May, 3 , 5 new, B g and new, 353 2 » ‘were POTATO MARKET. CHICAGO, December 13 (® (U. 8. Department of Agricultute).—Pota~ toes—65 cars; on' track, 140; total U, 8. shipments, 502; firm on No. 2 Rus- sets; dull on other stock; trading slow; sacked, per hundredweight, Wisconsin round whites, 1.25a1.55; Minnesota 1,10a1.35, Dfl%}h No. 1, 1.80a1.85; 2, 140145, PLEA FOR COPPER TARIFF REPEATED Frank Armstrong Reviews Present Plight of Industry in Trade Journal. BY FRANK C. ARMSTRONG. 3% | 8pectal Dispatch to The Star. NEW YORK, December 13.—Ameri- INCREASED COMMERCIAL LOAN DEMAND IS ENCOURAGING SIGN gési can copper production has about reach- | ed its Jimit—certainly so under present competitive conditions, Outside low cost mines now produce more copper than the foreign world consumes, whereas United States consumption ex. ceeds production. The American de- mand will grow much faster than the foreign, and we will become increas- ingly the major copper market of the world, at the same time that the foreign mines drive production to meet that demand. Ultimately this trend means the suspension of copper mining in the United States. It is hardly necessary to point out what that would mean. Disappearance of an industry that is a major factor in the prosperity of many States, unemployment, i freight tonnage for the railroads and other painful economic readjustments wm‘be“e:nri‘l:.dl,s We wt:lmbn;euu«d to fore! a considerable part of our industrial and commercial empire, Nor is that all. There is a real danger that some of these foreign countries will place export tariffs on copper, and & | undoubtedly they will as soon as’ they can secure more revenue without re: stricting thelr exports. So far as the American copper mines are concerned there is only one recourse —and that is a protective tariff duty on imported copper, If we had continued ' | the protective tariff policy for copper, adopted in 1869 and maintained in some degree until 1894, we would have 6y | Had_there been a reasonable protective tariff on copper our internationally minded companies would not have bee; d now to They, like the United States Steel Co., would have remained all- American. Their mines, smelters and policy-controlling interests would have been all-American. Their mines and all their equipment and supplies would have-been wht from American pro- ducers, insf of going to Germany for their plants. And they would have avoided the dilemma that is now inevitable. That dilemma is this: Shall they oppose a tariff that will put their Am'lf.hflm l:.l:‘- l.ntfil full production, compl pay rolls, & all that mean to local “‘-eommunl- ties and the Nation in general; or, shall they direct their influence to the main- tenance of that free trade that means 50 much to their foreign mines. It is greatly on account of these foreign mines ol{. md;\'.u that ourwAn;:nu.n n::m panies have It up a top-heavy n- cial structure, for which it is diffi- cult, if not impossible, to provide ade- uate dividends. If barred from the erican market or even if merely re- stricted in access to it, their outlook will ot be any too bright. Oh the whole, it is plain that these internationalized American companies trade in copper. Yet a copper duty is to come. ‘There is no reason in the world why & protective tariff Nation should withhold™ the shield of protec- tion & great industry when im- tion. thout nd | bodies s0 far as all future more Christmas club and holiday fus become available. Sales of clot! ane textiles have been o especiall 3 In manufacturing llnul’m is as yet little téndency toward expansio o 3 - | maintained steadily. in_tubular are goods. after Jan 1. LIVE STOCK. PRCES SHOMING STENGTH 2 Seasonal Advances in Quotgh were at the lowest level on ing in Englan land and Australia for American tex- tile mnchlnerd; and parts. The demand for machine tools is belng ‘The shipbull plants are, most of of small cut in wholesale prices. sales are at their peak now and ufs TS are uj what has been hflthlnln’t les Car sales year. continue_well below the level of December, 1929, * (Copyright. 1930.) CORN LEADS WHEAT IN GRAIN DEALINGS Prolonged Mild Weather Given as Cause for De- cline in Values. —_— By the Associated Press. CHICAGO, December 13.—For at least the moment, corn is now the of the grain trade in Chicago. Wheat dealings are at g;mnt virtually mo. nopolized by vernment-; i Ivel are concerned, except only July, which represents wheat to be harvested next 5 ’.;ome of the foremost authorities in- dicate as the outstanding feature BUSINESS HELPED tions Declared Greater Than Normal. BY FRANK 1. WELLER, Associsted Press Parm Bditor. supplies indicative of seasonal sdvances be; xpectations, though they Thay e Fterdod 5 i | At the same time, Eu: in the face of heavy pork and lard, was light, off a considerable part of the which had the effect of pushing Feeding Situation. 1 oflm‘lhfil:'flnuy.ulhmu- 1o a greater i i 2 | i prices BY HOLIDAY SALES &%= Trade Volume cbmpares Y Fairly Well With Last Year’s Figures. Special Dispatch to The Star. ed. Although holiday an‘ “l: 'zngl_: few centers was equal in of a val % decline in prices is taken into & would prefer & continuation of free | back when iron and steel, aluminum, man- |l ganese, zinc, etc, are all proteeted? - CHICAGO STOCK MARKET By the Associated Press. CHICAGO, December 13.—Following is the complete official list of transac- tions in stocks on the Chicago Stock High. Low. Close. 2 Cent & 0 Cent_States 00 Cherry Burreil i Olty & Corp Sec Curtis Light 100 Dexter Co leane; ;B g B e 100 Hart- Jejteier+ S 28! 3.28;5-”5 3 2 FREFLF s B350 2385088, A wi8a Faw N £ ] L F o B3, soxoe ChiRy A 85 2 L) 3 g 1 readjustment either as to wheat prices or Meanwhile, a likelihood of wheat and other grain i Parvest of 1931 crops after harvest of . discussed, is already be! the tm"tmz re “will then d pasf 3 egtg g—-s il 8 : here except July have been at mwn materially above a world parity, wheat traders say it is not sur- that public interest has focused on July. At present, July wheat ap- pears free to reflect world developments until the outlook for the new domestic a great extent, decided turns of thé hog market, INSURANCE LAW RULING Death in Tornado Does Not Entitle Relatives to Compensation. SPRINGFIELD, I, December 13 (#)—Death in a tornado does not en- title relatives of the victim to compen- sation from their employers, the State Supreme Court has decided. ;luny factory construction, occupa- tional hazards and negligence of the company were not involved when nine employes of the Union Furniture Co. and the Rockford Chair & Furniture Co. were crushed under heavy water tanks during a tornado which struck Rockford September 14, 1928, the court held yesterday. Families of two of the men had sued for employers’ liability cam: ‘The government of Ecuador will con- eration the volume this year a) & more favorable light. has prepared manufacturers for some of the quiet noted. Retail Trade, “In retail trade the returns available for the short month of November look better on further examination. allowing that November was af least one day and in some sections two daj short of & year ago, the decrease of 12 per cent from November a year ago in department store mdehmd of about December 13 (. D). ward movement. in” Sotion prices continued today of over $1 a bale occurred in usually active market. pressure increased as the ses. slon progressed, closing the list ai bottom, with May at 10.10, a of 99 points from best figures of Mon. day. Spots were reduced 35 points té December. old. December, new.: January, 'old January, Maren tinue its street paving program for o yeer. year ago, it is stated that when the STOCK AND BOND AVERAGES By the Associsted Press. SATURDAY, DECEMRER 1. STOCKS. ¥ Bk of Pitts N A 3L ridgept City