Evening Star Newspaper, December 14, 1930, Page 84

FINANCIAL. THE SUNDAY STAR, WASHINGTON, D. C, DECEMBER 14, 1930—PART SIX. FINANCIAL. DECLINEINBOND MARKET RESUMES Rail List Continues to Be| Weak Feature—Foreign Group Irregular. BY DONALD C. BOLLES, Associated Press Pinahcial Writer. NEW YORK, December 13.—Support | was lacking in the bond market today, and domestic obligations resumed their | decline. Buying demand, which ap- peared yesterday to force an upturn in & few domestic issues, appeared to have been satisfied, and most of the sales today were at prices under the previous | close. Railroad bonds were weak, and such active issues as Chicago & Northwest- ern 4%s, Erie 5s of 1967, Missourl & Pacific 8s of 1977, Nickel Plate 55 and Frisco 412s dipped 1 to 2 points. Foreign bonds were mixed. Euro- pean governments displayed an upward | trend. French and German loans sold | slightly above the previous closing fig- | ure. Latin Americans were under pres- sure. Columbian 6s, Chilean 65 and Bolivian 7s lost about a point each. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS NEW YORK, December 13.—The fol- lowing is today's summary of important corporation news prepared by Standard Statistics Co., Inc,, New York, for the | Associated Press: News Trend. Holiday shopping stimulated retail trade during the past week, the mer- cantile reviews report. However, un- settled weather in some areas reduced consumer purchasing power and other impediments have kept the volume be- low a year ago. Last month's business by - department stores of the country showed a smaller than seasonal increase over the preceding month. Expansion Was 2 per cent, buj comparison with 1929 months shows decline of 8 per cent. Commercial failures this week. are re- ported &t 562, against 598 last week and 514 in 1929. Bank clearings at 22 lead- ing cities, for the week ended Decem- ber 11, are the lowest since August. Decline in exchanges from a year ago is 35.2 per cent, with New York City exchanges off 37.6 per cent and other points, colléétively, 29.7 per cent. The Census Bureau's cotton consump- tion figures for November places the number of running bales of lint cotton consumed in, domestic mills during the month at 414,887. This total compares ' Wwith 444,494 in October and 541,153 m November, 1929, or decreases of 7 and 23.4 per cent, respectively. The Industries. Chemicals—Because of its basic sup- ly character, the domestic chemical dustry, broadly considered, has held up much better during the general de- pression than most trades. But in view of curtailed operations in practically all rtant consuming industries, and in- dications of further reductions in prices of many chemical products, profits of most manufacturers will be restricted the next few months. Earnings of the industry, as a whole, for the full 1930 year, nevertheless, are indicated only 20 per cent under the regord re- turns of 1929. Aggregate corporate profits, on the other hand, are expected to experience a recession of about 35 per cent. Meat . H;:ler volume of past month has brought hog prices down to approxi- mately the lowest quotations witnessed in more than two years. It is probable, moreover, that weakness will continue the next few weeks, with grad- ual improvement during the latter win. ter months. Demand for beef has been steady and cattle prices have continued | to resist the downward trend of prices in other departments, Lambs have been in supply, but prices have shown signs of stabilizing around the average level ©of the past two months. A seasonal ad- in quotations should assert itself the early future, Retall Trade.—November department store sales 'd 2 per cent over , but were 8 per cent under a year ago, according to preliminary fig- ures reported to Federal Reserve Board, The gain, compared with Octsber is less than usual seasonal increase for | the period. For the first 11 months | sales were 7 per cent below 1929 period. | The Chicago district has recorded the largest decline for the period thus far, 13 per cent, while the New York dis- :1:“ has the smallest decrease, 2 per ‘obacco—Sales of tobacco continue down: T sharply withdra: initial 10 m':ld. e Baggregate sales, owing rm)dfl'. margin obtainable on line. Pull year earnings sharply under those of 1929 are in prospect for practically all producers, Although no broad improvement is in sight for next year, it is expected that 1931 comparison with 1930 will be more favorable. The Companies. Atchison Topeka & Santa Fe Rail- | ‘way normal improvement budget for 1931; over $20,000,000 involved. Baltimore & Ohio Railroad—I. C. C. expected to allow more time for West- ern Maryland stock sale. Buckey Pipe Line November pipe line deliveries off 17.5 per cent; 11 months, off 38 per cent. Chicago Railway creditors ordered to flle claims, Cuban Can Products deficit, Febru- &ry 16 to September 31, $3,111,744. Oumberland Pipe ~ Line November | pipe line deliveries off 41 per cent; 11 months, off 6.6 per cent. Ford Motor Lincoln prices average 8200 per model above last year's. Humble Ofl & Refining willing to exchange ofl with Texas Corporation and allocate connections if Pan- handle wells are prorated. Texas crude ottput third quarter 7,519,384 barrels, against 7,622276 previous quarter. Tllinois Pipe Line November pipe line deliveries off 11 per cent; 11 months, ©ff 20 per cent. Indiana Pipe Line omits 25 cents ex- & dividend: regular 50 cents quarterly dividend declared. November pipe line | deliveries Off 63 per cent; 11 months, | ©off 6 per cent. International Telephone & Tele- graph_September quarter share carn- ings 52 cents, against 99 cents; nine mon hs, 8156, against $2.33 Jordon Motor Car—Sufficient pre- ferred and common stocks deposited. 1o | €arry out reorganization plan, Liggett & Myers Tobacco reported ! Chesterfield output holds to 1929 jevels; | Fatima and Pieémont volume off. i Market Street Railway gross income | 12 months to November 30 off 8.3 per | emt | McKeesport Tin Plate, Metal Pack- #ge subsidiary, buys Fisher Can Ous Elevator three plants operating mear 70 per cent. S d Oll of California retail gas- oliné vances, ranging from 1% cents to 3 cents gallon, made in Pacific Northwest; wholesale prices un- ehanged. Standard Ofl of N. J. formation of mew chain of tire merchandis- ing reported planned around Atlas Sup- ply Co. cuts distillate fuel oil prlces' % cent gallon to 4Y, cents. Sweets Co. of America November net before “Federal taxes, $7,033, against. ~—1930— Low. 98.26 Lib334s 1933-47.... 100.10 Lib 1st 438 1932-47. 102.30 100.28 Lib 4th 434's 1933-38. 103.21 98.30 U S 335 1940-43. 99.1 Hi 102. 103 10: 10: 102.25 107. 103. UNITED STATES GOVERNMENT. .102. 109.4 105.16 113.14 109.24 ~—1930— High 100 9974 9414 108 99 100% 106 111% 84 101% 106% 10314 10815 107 101% 121 126 934 105 105% 84 FOREIGN. High, Low. 101.21 102.24 103.14 101.22 102.12 106.4 108, 108.2 112, 11210 High. Low Close Cha Australia 6s '55. Austria 78 *43 Bank of Chile 6% s '87. Bank of Chile 6% s 1961. . Belgium 6s "85, . . Belgium 8s°41. . Bolivia 7s ct 69 Br 5 Canada §s ‘52 Chile Republic 65 1360 Chinese Govt Ry 6s ‘51 Colombta 6s 1961 fan. Copenhagen 58 ‘52 . Crechoslovakia 8s '51. Denmark §%8 1955 Denmark s '43. Dutch East Indie Dutch East Indie Fiat 7848 war. Finland is 50 French 7s '4 French 7348 *41.. Ger Gov 5% '65 w! German Bank 65 19 German7s*49..... Greek 65 1968 Irish Free State 5860 Italy 78°51. ...... Japanese 63,854 ..... Kreug&Toll 5s ct wi ‘59, . Mexico 45 1904-54. S 4 Milan 6%s '52 86% 102 Netherlands 6s *7 New South Wales ‘57 Norway 5%s. . Orfent Dev 5%s ‘57 Paris-Lyons-Med 6s ' LI 4 Paris Ovleans 535 1968. Peru 63 '60. . Peru Ts Poland 8s '50 Queensland 63 '47. Queensiand 7s "41. 4 Rhinelbe Ts ... Rhine Westphalia 6s ‘52 ... ¢ Rio de Janeiro 8546 Rio Grande Do Sul 6s ‘68 Rome 6148 ‘52 Sao Paulo Sta Seine Dept of 1. Serbs.Croats&Slavi 6 5 Serbs Croats Slov §s '62 102% 93 102% 78 82 50% Swiss 5HgM6. Toho Elec Pwr 7s 55 Utd Kingdom 6% '37 Uruguay 6s 1960. Vienna 6s 1952. Warsaw T8 1958 Yokohama 6s "61 MISCELLANEOUS. Abram & Straus §%s'43. . Alleghany Coev s 44... Am Agri Chem 7 41, Am Beet Sugar 65 '35.... 4 Am Chain 651933 Am I G Chm 5% 1949 71 Am Internation §%s 4. . Am Natural G 638 '42... Am Sm & Ref 18t 6347 .. Am Sugar Ref 6s ‘37 Am Tel&Tel cv 4% Am Tel & Tel s f bs. Am Writ Pap 6s ‘47 Bell Tel (Pa) ref Beth Steel pm 5236 4 Certain-teed 5%s 1948 7 99% 100 99% 100% 102% 101% Pan- 91 6% 7 83 60 1 loi 100% % 23 95 74 Colon Ofl 6s Columb G & E d Comm Invest §%s '49 Comm Invest deb és . Con Coal (Md) 1st ref bs. Detroit Edison ref 6s’ Dodge ‘e Duquesne 4%31967...,.. East Cuba Sug 7%48 ‘37 General Cabl Gen Motors Goodrich (B F) 638 ‘4T, Goodyear Rub 53 1957.... Humble O & R 5% '32 Inland Stee) 4148 1978 Inter Cement 48 Inter Match 68 '47. Inter Mer Marine 6; Inter Paper ba Int Tel&Tel cv 4 %8 Kan Gas & El Kendall % Lorillard 6%s '37. Manati Sug s f 73%a 42 Midvale Steel bs " .o Monta Nat Dairy Prod 5% s ‘4 Nat Radlator 6145 1947. . Pacific Gas & Bl 68 '42. ... Pacifio Tel & Tel 52 1 -America: 4 Para-Fam-Lasky 6847, Philadelphia Co 68 ‘67 Phil&Read C&1 68 wi ips Petrolm § 3 o3 tal Tel & Cab 6: ing-Rand %8 '47... lair Ol 7937, ir Crude Of1 § lair Pipe Line 65 Southwes Bell Tel 5s'54. . Stand O1l N J & Stand Ol N Y 4%48'51.... Sugar Est Orlente bs '43. Tennessee Copper 65 41.. Transcon Ofl 6% 38 & o Utilitiea P& L %8 "47. FIRST PUT IDLE MONEY TO PROFITABLE EMPLOYMENT 9414 89N 90K -3% 89% 2% 105 98 ~ 98 10974 109% 100 100% 51 105 105 « 102% 102% 102% 102% 80 80 90w 95% 120 1204 54 125% 70 R0 102 8314 102 883 i, 103% 90% 8ty 6914 104% ¢ 102 954 €% 96 110% 954 1% 004 6% For every 104% 78 84 501 95 109% 97 70 97U 9% “ K MORTGAGES ment in our budget where there is a surplus, be it large or small, the question of what to do with it, the answer can be satisfactorily found in invest- Walworth és e Western Union Tel 6348, . Wilson & Co 1st 68 "41. Youngstown Steel 5s 78. . RAILROAD. Atch T & S Fead) 4s°95.. F gen 5. 5. W B &Oref 63 D 2000, Balto & Ohio 6s '95. B&OPLE& W Va4 B&OS W Div 5a 50. Bangor & Aroos 4a ‘51 4 Boston & Maine 68 '67 Broadwy & 7th Av bs '43. Brooklyn Manh 1at 6s A. Brooklyn Union bs '50 Canada National 4 % 9 . Canadian Natl 5863 Oct. . Canadiarn Pacific deb 4s. Centrai Pacific 48 '49. ... Centra) Facific 5» 1960, 9. Ches & Ohio 43,893 A.,. Ches & Ohio 415 B '95. ChiB&Q4%s B'17 ChiB&Qrefbs'71.. Ch & East 111 gen 68 6. Chi Great West ¢a '59 4« ChiMStP&P5s'T Chi M St P & P ad) 5 Chicago&> Chicago RI14%s A Chi Union Station 4 4 Chi Union Station 6% Chi & West Ind con Chil & Went Ind 5349 *62 CCC&StLrt4%RsETT. CCL&StLbsD. Cleveland Term bs B '73. . Cleveland Terminal 5% Colo & Sou ref 4348 '3 Cuba R R 68 '52. Cuba North bls *42 Del & Hudson 5% 8 ‘37 Dan & Rio Grand Den & R G West Den & R G West 68'78. Detrolt United 448 '33. .. Erie 18t con 4 Erie gen lten 4 68WAErie ref bs '67. Erle 58'75. Flor East Coast 5514 Fonda J & G Grand Trunk s deb Grand Trunk 78 40. Great North 43%s 7 Great Nor gen b Great North gen 78 '3 Havana Elec Ry 5% Hudson & Man adj §8'57., Hud & Man ref 68 '67. [llinots Cent ref 455 111inojs Central 4% s Inter Gt Nor ad)j '65..... Inter Ry Cent Am 6% Iowa Central 4s '51. Kan City South 3s 1950.,. Kan City South 58 '50. , Kan City Ter 1st 4560, ., Lake Shore 48 '31. Lehigh Val cn 45 2003 Louis & Nash uni 4a 40 Market St Ry 7s A "40. Mo Pacific 58 G. Nassau Elec 48 ‘61 y 68°65., . N Y State Ry d%s NY Wes & Bos 4% Norfolk & W en 48 North Pacific 35 2047. ‘2 North Pacifio 48 '97. . North Pacific r 1 65 2047.. Ore Wash 1st ref 4a Penna on 4331960, 8t L Iron Mt gen §s°31. SLIM&SR&G4s'33 StL&SF prin4sA’s0.. StL&BSF4%a'18... ... St L & San Fr 68 B '50 St Louls 8 W eon 48 °3: West Maryland 4s '53.... West Maryland 5%s '17,. Waestern Pacific 65 °¢6. ... 864 Weat Bhore 1t és 2. 100% 96 79 713 - 944 99% 18 (Continued From Second Page.) Stocks and Dividend. 13% Savage Arms (2)....... 4 Schulte Retall Stores. Schulte Stores pf () % Seaboard Atr Li; Seaboard Alr Line pf. Segrave (1.20). . . Sears Roebuck(33%). Second Natl Inv. .. Second Natl Inv pf. . Seneca Copper. Servel Ine. Sharon Steel Hoo, Sharp & Dohme Sharp & Dohme pf Shattuck (FG) (41%).. Shell Transport (a2.43). Shell Unfon Ofl......... Shell Unfon Of1 nf(5%). Shubert Theatres. .. Simmons Co .. Simms Petroleum. Sinclair ConsolOfl (1)... Sinclair Consol of (8). Skellv Of) (2) ., Skelly Oll nf(6). Snider Packing Co. Snider Packine pf. Sovay Am Inv pr ww 5% South Porfo Sug (1.40), SoPorto Rico Sug pf(8) Southern Calif B4 (2) ., Sonthern Dair A (1%) Southern Dairles B ... 4 Southern Pactfic (6) Southern Raflwav (8 Southern Rallway of (8). Sou Ry M & Ohlo efe(4). Spalding (AG) (). ..., Spalding A G ist pf (7) Spang Chalfant & Co. .. Spane Chalfant pf (6). Sparks Withington (1), Spear& Co ... . Spear & Co of (1) . Spencer Kellog (80¢) Soleer Mfe. ... .. Splcer Mfg pf (3), Spierel-May.Stern. .. 4 Standard Brands (1.20), Stand Brands of (1), Stand Comm Tobaeco. Stnd Gas&Flec (3%) S4and Gas & F1 of 4) Stand Gas& Flec pf (6). Stand Gas & Elec pf (1) Stand Tnvest Corn . Stand Oll of Cal (h2%).. Stand Ofl Exnort of (5) Stand Ofl of Kan (2) Stand Of) of NJ(+2). & Stand O N Y (1 60) | Starrett (L 8) (12%) Sterling Sec A)........ Sterling Secur of (1.20). Sterling Sec ev pf(3) Stewart-Warner (2).... Stone & Webster (4).... Studebaker Carp (3) Studebaker Co pf (1) Submarine Boat. Sun ON €11). Sun Ofl of (6). . Superheater (1314 Superior Of1 Superfor Ste Symington. . Svmington Class A Telautograph (t1 40). Tennessee Corp (1). The Fair of (7). Thermota Co. Third Avenue, , Third Natl Inv (a2). ‘Thompson (J R) (3) Thompson Prod (2.40) Thompson Starrett Co Thomp-Starr pf(3%)... Tide Water Asso (60c). . Tide Water An O of (6). Tide Water Oll pf (5). Timken Det Axle (80c).. % Timken Roller Bg (3). Tobacco Produetas. ... Tobaceo Prod (A) (+95¢). Transamerica Corp (1), Transue & Willlams (1), Tri-Continentl Corp. Tri-Caon Corp pf (6). Trico Products (23 Truax-Tra Coal (1. Truscon 8tl (g1.20). Twin City Rap Tr (§4) Twin City Rap Tr p£(7). Ulen & Co (1.60). Underwooa- Rien 15% Low. 13% Yo United Alreraft pf (3).. tedBiscuit (2) 0c) United Corp pf (3). United Elec Coal. United Fruit (4) Utd Gas & lmprov (1.20) Un!ted Gas Imp pt (5).. United Pa eeeee Utd Piece Dye Wks (2).. United Storea A......., Unfted Stores pt (3% )., U 8 Distributing. . 8 & For See, & For Sec pf (6). Freig 5 tererr ey A FE TS Y » ther, A, ther pr pf (T)... e & Fay (2)..... pe&Fy 1st pf 1.30. ty & Imp (3) ber ”!!l" wB®apun® g8 Smelting & Ref (1), Smelt & Ref p£(3%4) Steel (1).... QEEGQCCCCQGQGEHGC w Univ Picturea 1st pf (8) Univ Pipe & Rad. . Utll Pwr &Lt A (12.15 1 1174%x118 3% 4% 58 58 60 60 4% Y% 106 106 24 2% 43 43% 100%x100% 16% 1614 49% 49% 224 22% 21% 2% 64 a2y 16% Wabash............ Wabash pf (A) (5). 23% Waldorf System (13%). gllw.llh Co (2). U I B SRS B P 5ty lohr..... Weason Oul & Snow (2). Wasson Ol & 8o ot (4). West Penn Elea A (1)... Waat Penn Hiea pf (6). . Waeat Pena Elee pf (7).. West Pann Power pf(6). Waest Penn Power pf(7), Western Dairy A (4). Weatern B RN Westera Pacifie pi o Waestern Union Tl (8). . Weatinghouse Alr B (2) Wilcox O) & Gas. . Wilcox & Rich (A) 2%.. Willys-Overland. TErti+ti+0 00 Ao ETELE FEFFSEEEL ase ’ Co (A] Wilson & Co pt . Weolworth Co (2.40). .. Worthington Pump., .... Worthngton Pumn B(6) Wright Aeronautieal. .., a Wrigley Wm 4) M W " -~ 2% % i e e e g o5 |t TR R SR 2| TR el 1+ VIR I Enl b be )Y Business Opportunity Large Radio l.:d Electric Re- tional public aceeptance, desires additional retail dealer outlets. Products are distributed in Wash- ington and have been sold suc- cessfully in Washington for sev- eral years. If you contemplate going in business converting your present business or addin, lddlfi’flnll fut-lelll‘n.Fhllnel. don’ m:ss investiga opportun=~ Address ml ity. es— Box 4-E—Star Office CAPITAL WANTED FOR EXPANSION Opportunity for Exceptional Income Company with headquarters here doing business elsewhere, mm 3% utar cqfi earned mnr:ndt twice after strong reserve expenses, wants additional capital for expan- sion, with g{rolpecu of increasing dividends. o funded or floating indebtedness. Share in control. In- vestigation invited. Address Box 22-E, Star office. Up to $300 ~G10vc’r0Fiat]: r Willys-Overland pf (7). - Wilaon & Covsrerrs AR bt ' (R RN IRE SN RN [ EER sl 4400011 FEFEE By (RN EREEEET) First Mort(nd_c Loan Applications: Invited at 5%% ~ 1808 M St. N.W. National 1753 Joh Robert WESTERN MARYLAND RY. PLANS ROUTE TO LAKES ‘This will be it about com- est L Ra of many seetion patd A lroad tribute to Mr. 3 railroad it's P beer and skil " and become worse, P of the Union Pacific Rallroad and mer of the Westorn Maryland, came from Omaha to attend the dmner for “one of his boys,” as he ' characterized Mr. Bagby. e Qi BALTIMORE STQCKS. Specinl Dispatch to The Star, BALTIMORE, December 13.— "g acundel Corporstion - 330 Baitimore Trust Co v & B . Fidelit v 31 Wettern Maryiand Bty Bid BONDS. aryland Electrio Rwy. st ted Ry, & Biec. income Joseph I Weller B d e First Mortgage Loans 1 In Arlingten County and Alexandria, Vlftgh 0w AR wa =5 oy £ COMMERCIAL NATIONAL BANK Let us serve In all banking Interest paid on nvhlm: from day. et deposit day 'nhdn"ll. e @ Fes¥¥s Fae’? Resources over $19,000,000 WADE . COOPER, President Hth and G Strests Fidelity Building & Loan Association Under Supervicien of U. & Departmens e 7% oo ON SAVINGS Anu-lnhuh!'-fl of your Christmas Check e e e “en®Exx Ty Fidelity Bldg. & Loag Asse. 313 Nuttonal Prem f00g ond M3 Woedward Bidy. “FEE P - e We take pleasure In anncuncing shat n Roche Howland become Secretary-Treasurer of this firm and will have charge of our Bond Department, " Fuwostment Bonkers - Investment Bldy. . Motropolitan 2922 National Metropolitan Bank Capital, Surplus and Undivided Profits, Over $2,300,000.00 18th St Opposite U. S. Treasury—116 Years Old OLDEST NATIONAL BANK IN THE DISTRICT OF COLUMBIA Year-Around Thrift Means Preparedness Quer a Third of a Century Without a 6% FIRST MORTGAGE$ Here is, first of all, SAFETY; with definite and liberal re- turn; and the investment is one that is continuous for a term of years—saving the necessity of re-investing. May be purchased in amounts from $250 up. SAUL CO. 925 15th St. N.W. Under State Supervision This Holiday Season Naturally Brings a Host of Bills It is not nec ary to begin the New Year burdened with s!llnflill cares . . . for we can consolidate your debts into one, and allow you to repay us in small nronthly payments . . . arranged to conform with your income .. . without the embarr endorsers. ment of securing Our Service is Personal and Confidential, and additional information will be cheerfully given. People’s Personal Bankers, Bethesda Pe;:anl Bankers, Inc. 3308 Rhode Island Ave, Mt Rainier, Md. Hyatisville 17701771 Maryland Personal Ine. Inc 8405 Ga. en." !flmw Ma, —for Yuletide demands, security in emer- gencies, readiness for opportunity. {iGive yourself a Savings Account for Christmas and feel the satisfaction that the backing of ready cash brings. JONE DOLLAR or more identifies you with Our Savings Dept. Open Until 5:30 P.M. Tomorrow 3% Paid on-Savings Christmas Cash Sent Anywhere B Draft and Cable ‘-