Evening Star Newspaper, December 15, 1930, Page 15

FINANCIAL. SELLING OF CURB | y STOCKS RESLMED Flood of Liguidation Follows '+ Publication of Uniavor- able News. ¥ BY JOHN A. CRONE. Bpecial Dispatch to The Btar. NEW YORK, December 15.—Unfavor- able week end news from business and financial circles, both here and abroad, coupled with fresh commodity declines and Saturday's decline, caused the Curb Exchange to open weak and active toda; y. Pivotal public utilities were liquidated at the outset, carrying such leaders as Electric Bond & Share, American & reign Power, Associated Gas & Elec- ic A, American Commonwealths A, Bell Telephone of Canada, Duke Pow- » €f, Hydro-Electric Securities, Niagara .Shares, Standard Power & Light and United Light & Power to record low prices for the year or longer. Standard Oil securities, such as Mumble Oil, International Petroleum, Standard Oil of Indiana and Vacuum Oil, were battered to new lows from a combination of liquidation and short selling, but powerful interests placed scale orders on the down side. Prospects of further price declines in copper were reflected in the plunges of Newmont Mining and Noranda Mines to record lows for the year or longer. New Jersey Zinc, Anglo-Chilean Nitrate and Bunker Hill Sullivan, Mirroring Zinc, Nitrate and Bar Silver Trends hit bottom levels. Food and chain shares softened in the first hour as Great Atlantic & Pacific ‘Tea eased more than 2 points. There were declines in Daniel Reeves, Fajardo Sugar, Trunz Pork Stores and United States Dairy A, most of which were in new low territory for the year. Sales in the forenoon amounted to 458,300 shares, a high total for the . Period since November 10, when trading aggregated 610,500 sharcs. Many issues were traded in and relatively few big blocks appeared. Cities Service opened on 11,800 shares at 1515, off 33, allow- ing for its ex-dividend quotation, and Electric Bond & Share in a 5,800-share block came out at 383, off ;. Then 4,800 shares of De Forest Radio ap- peared at 1%;, unchanged. The first two issues later in the morning hit new lows, from which they rallied at miiday. BONDS ON THE CURB MARKET DOMESTIC BONDS. ; Hich. Low. Noon. 11 Alabama Pw 4l%s '67 94 93 8 Aluminum Co 55 '52 1013, 10 Aluminum Ltd s 48 9714 Am Cmwlith Pw 6s '40 1Amer G 55 '28. 9 2 Amer P & L 65 2016, 100 & Amer Roll Mill 5s ‘48 2’Amer Seating 65 ' 4 Appalach_Gas 99229 2 Y 37 94'% Yas | El Bost 55 A 133 102 ison B “paL 5 & s ull Ttilic 6s B /40 'w Sec 75 E '57 9 a Power s '52 P& v g;za;z:zzz or § SSuah gadag: 8, 3088 ril) %) 8 ¥ 2, PP SRoE S &> O LEE 3333, Ll BEEEy &L, 65 A uth Calif E th Calif Ed thw Dai Pr 6%s uthw Nat G 68 tand Gas & E 6 48tand Gas & E 6 €5tand Gas & E & tend P& L 6 T 1 7 15 2 1 5 2 3 323 10 1 # 3 Kl 1 2 3 5 1 ] 4 [ 1 i 2z 2 15 s H 1 5 { Lehi 6La g 20 3 3 2 i 2 10 1 s i 1 i 2 0 1 2 2 5 5 E 8 3 1 o 3 e 2 3 € 2 s 1 5 1 4 B 3 2@ Ulen & Co 6s 20 Union_ Gulf s '50. . s sh W & Pow 5s 13 Webster Ml 1 Wes Tex Ut RR 68 Pow C Can 41s8 '50, Ruhr Chem tinnes 75 38 Terni Soc 6 1T P Zw_Without warrants. B—New. Wwi—When issued. ——— . *NEW YORK BANK STOCKS NEW YORK, Jecember 15 (#).— Over-the-counter mas : Bid. Asked. o9 el e g L 92 | TREASURY CERTIFICATES. (Reported by J. & W. Beligman & Co.) turity. Of June 15, 1931. 100 100 14-32 100 16-32 100 14-33 100 16-33 4 00 3033 101 promidist ittt instruments are being manu- in Canada at the rate of ,000 mesth a month, THE EVENING STAR, WASHINGTON, b o e 2 MONDAY, DECEMBER 15 197) FINANCIAL. TRANSACTIONS ON THE NEW YORK CURB MARKET Note—All stocks are sold in one hi ex Pri 13% 23% 201 157 6214 161 ™ ki3 89% % 19% 87% 26 Low. 314 5 10 5 5 98 14 10% 1% 5 150 Stock snd Dividend Rate: Aero Supply (B) Aero Underwrites Affillated Prod 1.60.. Ainsworth Mfg (1).. Alr Investors cv pf.. i e e, ing those designat y the T8 w:fl&m“fimf&mwnmmmm . 1930.~ 4% Ala Grt Sou pf (+13). 108 100 Alexander Indust. 2 Al AmGen Corp. Alleghenv Gas. ... Allled Mills (60c). s, Aluminum Co of Am 6508 15614 1 108% Alu Co of Am pf (6). Alum Ltdcumpf6). 1 Alum Goods (1.20).. 1 Am Capital (B) ... 17T Am Capitalpf (3)... 1 Am Cigar Co........4258 Am CP&L (A) (a3). 6 Am C P&L B (10% 31 AmCom P A (b10%) 53 Am Com PB (10%).. 4 Am Cyanamid (B) 103 Am Dent Stores..... 2 Am DT NJT cv pf (7) 2758 Am Equities........ 34 Am For Pow (war).. 33 Am Foundrs (b4-70). 23 Am Gas& El (11)... 139 Am Hardware (15).. 10s Am Invest Ine (B).. 65 Am Invest (war).... 1 Am Laund Mach (4). 758 Am Lt & Trac (2%). 47 Am Marfcabo....... 5§ Am Natural Ga % Am Pneumatle Sv. .. AmStPS A (1.60) Am Superpowr (404 Am Superp pf (6) Am Superpwr 18t(6) Am Ut&G (B) (35¢). Anchor PF (b10%).. Anglo Chil Nitrate. Appalachian Gas. Arcturus Rad Tube.. Ariz Globe Copper-. .. Asso El Ind Ltd 30c.. Asso GEE A (at2 40) Asso G&E (A) dbrts Asso GREIl purrts. ., Asso Rayon pf (6). Atlantic Coast Fish.. Atlantic Fr & Sug. Atlantic Lobos. . Atlantic Lobos pf. Atlas Plywood (2)... Auto Voting Mach. .. Auto Vot M ev pf pt.. Aviation Cor of Am.. Axton-F Tob A 3.20. Babcox & Wil (19) Bahia Corp.... Bellanca Afrcraft... Bell Tel of Can (8).. Bliss (E W) Co (1).. Blue Ridge Cp(p20c) Blue Ridge cvpf(a3) 4 Blumenthal (S)... Brazil Tr&Lt(b8%).. Brill Corp (A) (65¢). Brillow Mfg Co(60c) Brit-Am 011 C (80¢).. BriATcouB1.17 8-10¢ Brown F&W (A)2.40. Buff Nia&EP 1st (5). Buff N&EP pf (1.60). Bulovacv pf (3%).. Bunker Hill & S t614 Bureco Inc cv pf (3).. Bureo InC..ccccveees Burma Corp (131¢).. 4 Butler Bros (30c).... & Cuban Cane pr opt w. % unlziuuu 0e) . Bwana M Kubwa.... Cable & Wire A rcts.; Cable & Wire B rets., Camgen Fire Ins (1). Canada Marconi..... Carnation Co (J1%) . Celanese Cor pf (7).. B0s Cent HG & En 80e. 2 Cent Pub Sve A al78 Cent St El (k40c). .3 Centrifug Pipe (6! Chain Stores Stoc! Charis Corp (13). Chat Ph Al nv (60c) .. Chesebrough (16%). 1 1 Serv (g30c)... 4 Citles Serv pf (6) Colombia Syndicate. 750s 2408 Consol Auto Merch. Cons Auto M cu pf. Consol Copper. Consol Dairy Prox Cons Gas Balt (3.60). Consol Laundries(1) Cont Chicago Corp. .. Cont Chi Cp er pf(8). Cont Oil % Contl Share cv pf £6)225s Cont Shares pf B (8) 2758 Cooper Bessemer (2) Cooper Bess pf A (3) Copeland PrIncA... Copper Range ) Cord Corp. Corp Sec Ch Corroon & Reynolds., Cor & Rey pt A (6) Cosden O1l. Creole Fetroleum.... Cresson Consol (4¢c). Crocker Wheeler. . .. Cuneo Press (2%). .. Cuneo Press pf (63%) Curtiss Flying 8v...; Curtiss Wright war., Darby Petrolm n (1); Davenport Hos (2) onBaona wmmmn Detsel W Gilb (134).. Derby O11 Refinin, g $x Duke Power (3! Dunlop Rub rets(28) Dugquesne Gas Cp wi. Durant Motors. . Duval Tex Sul wi East G & F Asso. East St Pow B (1)... East Util Asso ev.... East Util Inv (A). ... Educational Plo pf.., Etsler Electric Corp. Elec Bond & 8h (b6), El Bond & Sh eu pt 6. El Bond & Sh of (6).. Elec Pow Asso (1)... Elec Pow Asso A (1) El Pow & Lt op war.. Elec Shareholdg (1).. El Sharehold pf (a Empire Corporation, Emp Pwr pt (14.60).. Emp P Ser A (a1.80) Empire Steel Corp. . Employ Reins (134).. Europ Elec deb rts. . Evans Wallow Lead. Fabrics Finishing... Fairchild Aviation 3 PETIPETATPPRN-TARTR L T TS P L TS T - 8 - 13 S SuinawenwT o~ 4 Met (11%).. s (1.25). . Florida P&L pf (1).. Ford Mot,CanAt2.10. Ford Mot France 28¢ Ford Mot I.td 37%ec. Foremost Dairy Pr.. Foremst Dairy pr pt. Fox Theater Cl (A).. Franklin Mfg Co.... Garlock Pkg (1.20).. General Aviation..., General Baking..... a Bl aBuF86S P ‘Gen Baking pf (3) Gen Capital Cor) = Gen Empire Cor (1), Gen Laundry Mach. . Gen Petroleum wi. .. 4 Aot R 5% 9B 15% 5 108 % 2 Y% 157 154% 108% 108% 5% 95% 18% 15% 13 5 27% 65 33 5% 11% Bl By 108% 103% 3% 3% A% 4% 16% 15% 10 85% 354 107% % 204 3% 3k 145% 145% 15% 15 3le 32 114 104% 104% 16 20 2% 120% 1204 8% 3n % 2 2 20 20 14% 6 2% 13% 4% 38% 920 90 103% 103 12% 1% 1% 114 19% 1% 35% % % % 4% 2% 2 9 8 11% 1% 100 100 21% 19% 8% 8 14% 13% %% 2 2 4% 4% 5 5 lots 508) only. 155 108% 95% 15% 5 27% 65 23 5% 12 5% 103% 3% 4% ¢ 15% 10 38% 107% 2% 3w 145% 104% 15% 24% 6 30% 21 20 2% 120% 3% 3 1% 2 1% 36 % 4% 2% 8 11% 00 21% 8% 13% % 1 4% 5 Stock and Sales— Dividend Rate. _ Add 00. Gen Thev pf w.i(8), 13 Gleaner C Harv new,, 1 Glen Alden Coal (8). ; 3 =Prev. 1000,~ igh. Low. 26% [3 Globe Undwritrs 30c. Gold Coin (new).... Golden Center. .. Goldfield Consol. . . Goldman Sach T C Graymur Corp (1). Grier Stores. . Groc Strs Prod v.. Guard Fire Asso (2).850s Guif Ofl of Pa (1%). 67 +Hageltine Corp (2).. 4 Hecla Mining (1)..., 1 Horr & Hard (2%). Hudson Bay M & Humble Oil (123%). Hvdro Elec Sec (2). Hygrade Food Prod.. 111 Pipe Line (e131¢) Imp Chem Ind (25c). Imp Of1 of Can (50¢) Imp Ofl.Can reg(50c) Ind Ter I11u Ofl (A).. Tnd Ter Tllu Of) (B).. Insull Ut(1b10% %). Ins Co N Am (+3). ... Intercoast Trade (1) Intercontinent Pet n Intl Hydro cv nf 3% 1258 Intl Hydro E1 A war. int Petroleum (1) Internat Products. Int Superpwr (f1.10). Int Utilities A (334). Internat Utl] (B) Int Utilities (war). InterstateEquitie Interstate Ecn pf(3) Interst Hose Mills. .. Italian Superp (A).. 4 Jonas & Naumburg. Jonas & N cum pf Kerr Lake. ... Kirby Petroleum. Klein (DE) Co (1). Kleinert Co (1). . Koppers G&C pf (8). 75 Lake Sh Mines(t1%) Land Co of Florida. . Lefcourt Real 1.85. . Lefcourt Real of (3), Leh C&Nn (1.40)..: Libby McNefl & L. Lion Ofl Ref (2) Loew’s Inc war).... Lone Star Gasn (1).. Long Isld Lt (56¢).. Louisiana Lan & Ex. MacMarr Stores (1). Magdalena Synd. ... Mapes Con Mfg 3% . Marcon! I Mar (38c). Marion Steam Shov.. Mass Util Asso...... Mavis Bottling. Mayflow Asso (12). McCord Rad&Mfg B. Mead Johnson(+4%). Memphis N G (+70¢). Mer Ch &S (1.60). ... Mercantile Stores(1) Mesabl! Iron........ Met & Min Ine (1.20). Met Chain Stores. .., Mid St Pet vtc A..... Mid St Pet vtc B. Mid WSt Ut (1%). Mid West Ut (b8%). Mid W Ut cv pf xw 6. Mid St Prod n (2) Midvale Co (4). Mining Corp of MoRanPL (b10% Mo Kan P L vtc. . Miss Riv Fuel bd rts. Montecatini deb rts. . Moody's I S pt pt (3) Mount Prod (1.60)... Nachman Spring. Natl Banksve . Nat Bond & Sh(75¢). NatDPrpf A (7).... Nat Fam 8 (b10%). Nat Fuel Gas (1).... Investors......: Pow & Lt pf (6). Nat Pub Sv A (1.60). Rubber Mach (1) Nat Screen Sv (2)... Nat Sh T Sec A $50c. Nat Suga~ N J (2). Nevada Cal Eleec. New Eng Pow (2) New Eng Pow pf (i New Jersey Zine(3) New Mex&Ariz Land Newmont Min (£4. Newport Co (2)....s NY&Hon R 1.37%.. N Y Merchandise (1) NY Pow & Lt pf (7). N Y Transit (11.80) .. Niag-Hud Pow (40¢c) Niag-Hud Pow A w.. Niles-Bem-Pd (13) Nipissing (30c) Noranda Mines Nordon Corp Lt No Am Aviat A war.. No Am Ut 1st pf (6).. % Nor Europ Ofl Corp.. Nor Ind Pub S pf (6). Nor St Pow A (8).... Nor St Pow pf (6).. N W Engineer (2) Novadel-Ang (t4%). Ohilo Brass (B) (16). ©Ohilo Copper..... Ohio Ofl n cu pf(6). Oilstocks Ltd A 50c.. Oflstocks Ld B 50c. .. Pac G&E 1st pf (1%) Pender (D) Gr (B).. Pennroad Cp (30c).. Penn-Mex Fuel (3).. Penn Wat & Pow (3). PeopL&P A Pepperell Mfg (8) Perryman Electric. Petrol Corp war Philippe (L) B 11.80. Pitney BP n (20¢). Pitts Forg (1.60) . Pitts& L E (110) Plymouth O1l (3 Pond Creek Ponch Powdrill&Al (14% Pratt & Lamb (16). Whit (25 Prod Royalty (f1) Prudential Invest, Pub Ut Hold (50¢c). . Public Util Hold war Pub Ut Hold xw 50c.. Puget S P & Lt pf(6) Pyrene Mfg (80c)... Radio Products (2).. R R Sh Corp (25¢c) Reeves (Dan'l) (1%) Relter-Foste: Rich Rad cum pf. Rike Kumbler (2.20). Roan Antelope Min. Rubberold Co (4). Safe Car H& L (8).. 258 Safeway 8 w(24)(C)120s & St Anthony Gold...., St Regls Paper (1).. Salt Creek Prod (2).. Savannah Sugar (6). SaxetCo..evvvurrnee Schulte Un bc-31 St.. Seaboard Util (50¢) Sec Corp Gen (40c).. Seliberling Rubber. Seg Lock & H (50¢c) Selby Shoe (1.40) - wronBBuSiirnanela Shattuck Den Min 48% Shawingan W (2%). Ovén. Bigh. Low. Close. 27 % 170% 17 23% 5 3% 201 631 14% 106% 4% 22% 4 9% 8% 100% 17% 170% 17 23% 5 106% 4% 22% 4 9% 16% 5l 31 291, 9% 6% 15 574 21% 81% 2 1 10 5% 815 100% 18 15% 254 36 1 15% any 9% 5% 1 4% 99% 7 27 6% 50% 7 27 % | be used for feed still is 1930.—~ Stock and Low. Dividend Rate. 4% Shenandoah Corp.... 12 Shenan Corp ptf (a3). 21 Sherwin Will (t4%4). 50s Silica Gelctfs...... 3 Silver (Isaac) pf (7) 1008 Solar Refining...... 1 So Am Gold & Plat. Sou Penn Of1 (1234).. SoCal Ed pf B (1%). So Cal Ed pf C (1%). So Col Pow (A) (2). Southern Corp. So Pipe Line (12). SouthldRoyalty (6 SW Dairy Product Spanish & Gen ret; Stahl-Myer (1.20). .. Stand Invest Cum pf. Standard Motors. ... Stand O1) Ind (2%) . Stand Ol of KY (12) Stand Oil Ohlo (2%). Stand Pow & Lt (2).. Stand P&L B (2)... Starrett Corp pf (3). Stein Cosmetlcs. ... Strook & Co (1). Stutz Motor Carr. .. Sullivan Machine(2). Sun Inv pt (3). Sunray Ofl (b5% Swift & Co new (2 Swift Intl (13%4)... Syracuse W Mch(B). Taggart Corp (1).... Tampa Electrio (32). Technicolor Inc....s Teck Hughes (600).. Thatcher Sec Corp Todd Shipyard (4) Tonopah Belmont. Tran Con Air Tran Trans Lux DL P 8 Tri-Cont Corp (wa Triplex Safety Gla: Trunz Pork 8 (1.60 Tubize Chatel (B) Tung Sol Lamp (1).. Tung-Sol L pf (3)..s Ungerleider F Corp.. Union Am Inve Un N G of Can 11. ~Prev. High, 20 (Continued From Page Btock and Dividend Rate. _Add 00. Wess Oil & Snow (2). 11 WessO&Snpf (4).. 2 West Penn El pf (8). 10s West Penn El pf (7). 508 West Penn Pw pf (6) 100s West Penn P of (7).. 508 Western ~Prev.1930~ High. Low. 29% 112% 111% 118'% Wextark Radio Stri Wheeling & L E pf White Motors (2). Wh Rock M S (1434). White SewingMach. . Sales— Add 00. Open. High. A 36% —FTev. 1930.~ High. Low. 20% 4% 16% 4 17 () 2% O Low. Close. % A% 4% 2% 32% 59% 591 5 5 4% Utd Am 32% Utd Car: 59% 5 6% % 1% Wall W 10714 20 6% 21% Winter 4% 11K payment. JPlus 2% in stock. nPlus 8% in stock. 14) ~Prev.1930~ Low. & Youngs 10:30 AM 1:30 P.M Dpayments basec Unit of tri tocl ing 4% in st ei n cash 4 Flis 35 15 stock. 1% in stock. n Pi 7 Plus 14% in stocl 2% 2% CREDIT FOR CHINA MAY BOOST WHEAT Canadian Market Would Be Benefited by Sales to Orient. BY FRANK I. WELLER, Associated Press Farm Editor, Canadian wheat, selling 20 cents un- der Chicago prices and now the cheap- est wheat in the world considering quality, appears to be in the brink of consolation in its darkest hour, It is understood the British govern- ment has entered discussions for the re- establishment of Chinese credit, which, it done, will permit China giving some- thing in return for British machwuery and Canadian wheat and possibly re- uun‘ in a marked demand for the prairie grain, At the same time the Canadian ‘Wheat Pool, apparently through experi- menting with holding operations and closed marketing, has recalled its foreign agents and is said to have de- cle on the employment of the or- anized grain trade here and abroad. heat merchants say the policy will 80 far toward renewing the confidence of buyers and that Canada will gain the good will of foreign grain interests which had come to believe that the pool proposed to force arbitrary prices by withholding supplies. Hedging Operations Small. Many in the trade feel that develop- ments of a bullish nature may be sesn in American wheat in the near future, although one prominent firm insists that under current conditions and con- sidering the unnatural attitude of the market, opinions are useless. There is a little hedging of cash grain each day, but not enough to per- mit buyers to get a liberal sized line without bidding prices up sharply. Wheat traders are selling July at Chi cago at 9 cents under the old May. The market is said to be oversold and should some good sized buying orders come into the market traders say s sharp advance might result in view of the low prices. Scarclg’ of sellers is said to prevent May and December wheat from ad- vancing sharply. There is no scarcity of buyers, the Grain Stabilization Cor- poration being in the market with sufficlent orders to take all offerings. However, the price has held above the same level for two weeks. There is said to be disposition on the part of the Farm Board to bid up old style December wheat. The open in- terest is down to 6,636,000 bushels. ‘Were shorts to try to cover on any of the old style months, it is said there would be a sharp advance. There are believed to be sufficient orders in the market to absorb all selling that may develop in old and new May both in Chicago and at Minneapolis. July wheat will be under pressure right along by hedgers and short sellers, ‘Wheat Used As Fuel. The last week brought out the un- usual circumstance of wheat being used for fuel. In the midst of the wheat region, 10 miles from Big Timber, Idaho, coal costs $16.50 a ton and wood $10 livered to bins and basements. Wheat produces an even heat and holds fire about as long as coal, a business man of the neighborhood reported. ‘There still is considerable controversy over how much wheat will be fed to live stock. One Chicago grain firm says survey shows the probable relative amount of live stock feeding this sea- son will be something like 7 per cent less than the amount done last year, whereas the supply of feed grains is 11 cent less than a year ago. In- cluding the wheat surplus of 650,000,000 bus] , the supply of ain that could .4 per cent less. Crop prospects for Winter seedings of grain are becoming an increasingly im- portant factor in the general wheat market situation. The Winter wheat acreage in the United States is be- lieved to have been decreased 5 per cent and reports show some curtailing' of wheat acreage in Argentina, Australia and India. Nothing definite is known about Russia, but reports indicate an expansion. ———— Chicago 's Big Record. More than airplanes arrive and depart from 000 & cord, while wheat costs $9 a ton de- | 40a4 GAIN IN OKED FOR Chicago Operators Prices Will Improve Stock and Dividend Rate. Utd Creia pf (3). Utd Corp (war) - Utd Lt & Pwr B (1).. Utd Lt & Pow pf (6). Utd Ret Ch pt (3%)., U S Dairy (A) (5)... U S Elec Pow ww. . S Foil Co B (50c) Gypsum (2. & Int Seo 18t (6), Lines pt (1). 8 & Overseas war, U S& Over ctfs 28 % e US Playing Cards(4) U S Radiator (2). Utd Verde Ext (2 Util Pow & Lt (a1 UtP&LcfsB at1.02 Vie Finan Cor (40c). Vogt Mfg Co (2). Walgreen Co. Walgreen Co ¢ West Pow pf (7). 101 Willlams R C (1.40). 1 RIGHTS. Bxpire. Com Edison..Feb 3 Dividend rates in dollars based on Iast quarterly or semi-annual *Ex dividend. a Payable in cash or stock. dend. fPlus 5% in stock. & Plus 6% in stock. Stock and Dividend Rate. Add White Sew Mach pf.. 1 4% Wilcox O11 & Ga, Willys-O . Willys-Over pt (7) Wilson & Co (A). Woolworth (2.40) ‘Worthington Pump. Wrigley (Wm) (4). Yale & Towne (2) Yellow Truck. . 2% Zenith Radlo. Sales of Stocks on New Dividend rates ag Bales— Add 00. Open. High. Ut (b23%%). 1 6% B% Low. Oloss. 5% 5% r Fastener... 3 4% 4% 1 T A% 15% % % 0). FrrmnoverSand Sealicduenon-S8annalna (Benj). 3 Zonite Products (1).. 16 T8 I 1 tPartly extra. 1Plus 4% in stock. © Adjustment divie hPlus 1% in stock. kPlus 10% in stock. mPlus 3% in stock. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Sales— 00. High. land. Spring (3). 1 York Exchange 770,500 12:00 Noon. 66,200 2:10 P.M in the & atest quarterly or hait yeatls deciaratiann than 100 iPartly extra. tPlus % in stock. a Fatd this e n s tock, K Plus 3% in stock, tock, B Plus $1.00 in Breferred stos SECURITIE'S VALUES BY PIT TRADERS Believe Commodity When Stock Market Recovers. Grains at Low Mark. Special Dispatch to The Star. CHICAGO, December 15.—Traders in almost all speculative lines regard con- ditions in their flelds a8 the most pes- simistic experienced in years. Grain values are near the bottom levels of the season. Cotton is the st in re- cent years. Stocks are demoralized and traders say that until a permanent im- provement is seen in them commodity prices are not likely to have a sus- tained upturn. Eggs are the lowest in 50 years, stor- age eggs for December delivery being slightly under 15 cents. Storage butter is _around 26 cents. Wheat for July delivery is at the lowest in 16 years or more. Corn is selling at 70 cents, oats at 33 cents and rye 45 cents in Chicago. In Winnepeg, wheat has dropped to 54% cents for December delivery and 59 cents for May, with oats slightly above 25 cents, rye around 29 cents and barley 241 cents. Continued liquidation, with limited speculative support, was especially heavy last week, the main buying support coming from those who were covering commitments or who had privileges. One of the closest observers, review- ing the situation at the close of the Chicago Board of Trade Saturday, said: “As long as deflationary forces con- tinue under way it is not reasonable to expect our commodity values to swing against the trend, but it seems to us that at the cirrent levels deflation should be pretty well completed and that at current levels deflatio thing can well afford to invest in Ca- nadian wheat at current prices. Don't buy it, however, unless you can pro- tect your holdings against temporary declines.” That wheat speculation has fallen off is seen in the weekly report of sales of futures in Chicago, there being 78,802, 000 bushels last week, compared with 133,681,000 the previous week and 369,- 084,000 a year ago. At the same time the open interest last week declined only 2,000,000, being 153,747,000 bushels at the close, compared with 155,739 - 000 & week ago. Open interest in May Wwheat is 116,032,000 bushels, against 112,456,000 a week n’v Primary receipts of wheat last week were the lightest in more than five years. Receipts here last weew were 5,067,000 bushels; in the previous week 3,172,000 and in the week last year 7,130,000, Ship- ments, respectively, were 3,102,000, 4,~ 694,000 and 3,252,000 bushels, Closing prices on old crop deliveries for the week were unchanged to 1% cent higher with July % cent lower, Closing prices on December were 31 to 73% cents, March 7914 cents, May g:n:o 81% cents and July 70 to 697 . Corn has disappointed its friends by weakening to nearly the lowest of the season and closing at about the inside of the week, with net losses of 3% to 3% cents. December finished at 69% to 69% cents, March 72% to 72% cents, May 74% to 747 cents, July 76 to 614 cents. July had a range of 74% to 801, cents against 7814 to 83 cents the pre- vious week and 95% to 95% cents a year ago. Sales for the week were 138,977,000 bushels against 108,381,000 the previous week and only 48,261,000 in the same week last year. The cash situation was not changed to any extent. Open in- terest in corn was 55,281,000 bushels at melflm’ against 53,581,000 the previous week. Primary receipts of corn last week Wwere 8,253,000 bushels; the previous week, 4,991,000, and the same week last year, 9,140,000 bushels. Shipments, re- spectively, were 2,854,000, 2,057,000 and 3,788,000 bushels. Oats were under pressure, mainly from speculative holders, owing to the Weakness In corn, and finished 2% to 3% cents lower. December was 325 cents, March 337 cents, May 343 to 35 and July 3315. Trading dropped off 11,000,000 bushels to 13,075,000, com- rfld With 15,995,000 a year ago. Mar- eting is the lightest in more than five ears, and stocks are not heavy, while terlor consumption is said to be large, Specul. too large for prices around the present level. e speculators have lost their in- terest, as trading last week decreased virtually 6,000,000 bushels, with aggre- gate sales of 6,742,000 bushels, while & year ago they were 11,583,000. Liqui- dation developed on every hard spot, and the finish was tame, with Decem- ber 45 cents, March 451, May 45% and July 43. It is said that a leading in- [ big line of December h it has been unable f the cash grain. Washington Produce Butter—One-pound prints, tub, 3715a38. 32a35; [Eggs—Hennery, ceipts, 28a30. Poultry, alive—Turkeys, young, 25a27; old, 21a22; chickens, 17a30; Leghorns, 16al7; fowls, 17a20; Leghorn fowls, 12a 13; roosters, 14al5; ducks, 15; keats, young and large, 50a60; old, 25a30. Dressed—Turkeys, young, 32a33; old, 28a30; chickens, 22a25; Leghorns, 20a 22; fowls, heavy, 22a23; small, 18a20; capons, large, 42a43; small, 35a36; ducks, 24a25; keats, young, 70a80; old, Mel!&—geef. 18a23; veal, 18a23; lamb, 20a23; gork. loin, 24; fresh hams, 24; fresh shoulders, 20. Smoked— Hams, 25; shoulders, 18; bacon, 27. Game—Rabbits, 20a30. Lard—in bulk, 1215; in packages, 15. Live stock—Calves, 11; lambs, 8. Fruits—Strawberries, per quart, 1.50; oranges, Florida, 3.00a4.00; navels, 3.50: 38a39; current re- SUGAR DUTIES RAISED BY CAIRO GOVERNMENT By the Associated Press. CAIRO, Egypt, December 15.—In ad- ditlon to raising the import duty on sugar from 440 to 700 plasters a ton, the government also has increased the excise duty from 225 to 300 Pplasters per ton. (The plaster is worth nearly 5 cents.) An explanatory note pointed ot the necessity for protecting the local in- dustry, which employs 26,000 Egyptian workers. ‘The 81 company, in conjunction with which a government monopoly is to be created, will not permit an in- crease in "prlm until an agreement is reached with the government regarding minimum and maximum prices. To protect Egyptian wheat, and flour, the government intends to levy an im. port duty sufficient to enable wheat to be sold in Cairo at 140 plasters per ks A7 MORTGAGE ISSUES 64 PCT. UNDER 129 Drop in New Financing Held Beneficial to Steadying of Real Estate Values. Special Dispatch to The Star, CHICAGO, December 15.—Notwith- standing the increasing volume of new first-mortgnge real estate financing in recent months, total offerings for the first 11 months of this year was 64 per cent under that of the same period in 1929, according to the monthly realty l‘r‘w‘e:tmnt Teview of Nelson, Hunt o. Statistics showed that new realty 8% | stock and bond financing in November totaled $15,610,000, an increase of 47 Per cent over October and the largest or any month since last July. Total financing for the entire year up to De- cember 1, it was stated, now aggregates $180,632,270, a decline of 64 per cent for the 11-month period. First-mortgage real estate bond and note offerings to date, the survey stated, aggregated $162,627,150, as com- pared with $403,210,650 in the same pe- riod in 1929, a loss of about 60 per cent. New stock offerings aggregal but $18,005,120, a decline of about 84 Er cent from the volume registered the first 11-month period last year, Decline Held Beneficial. “This decline in realty financing,” said the review, “is undoubtedly having & most beneficial effect in stabilizing the real estate security situation. It augurs well for a more rapid return to normal conditions, where only the soundest types of building projects will be accepted as security for first-mort- gage issues.” tatistics showing the volume of new realty financing in the first 11 months of 1930, as compared with the same period a year ago, lll:ld in 1928, follows: 1929, 30. . Bonds .... $162,627,150 $403,210,650 Stocks . 116,381,000 18,005,120 $519,591,650 $180,632,270 Gain in November Really Issues. Analysis of the review's figures showed that first mortgage bond and note offerings in November also showed an increase of 5 per cent over the total of (he same month a year ago, but this gain was more than offset by the loss in stock offerings which in 1929 totaled $3,458,000 as compared with $400,000 this year, About; 50 per cent of the total financ- ing for November was on office and commercial types of structures, while 41 per cent was on residential projects, l:&nsf.;gng largely of collateral trust cer- cates. + The gain in the volume of November realty financing over October was largely due to an increase of about $2,100,000 in residential and a $2,500,- 000 increase in commercial offerings. This was offset to some extent by a $1,800,000 loss in the volume of issues of a financial and miscellaneous character. Detroit led the Nation with a $5,000,- 000 issue, and Baltimore was second with three offerings, totaling $4,57$,000. New York, Richmond, Milwaukee fol- lowed in order named. Other citles which reported new issues were Cleve- land, Seattle, San Francisco, New Or- leans, Appleton, Wis. Morigage Money Market. ‘The review stated that money for financing needed home building is ac: cumulating. Banks and insurance com- panies have ample funds for first mort- gages on “sound well-conceived con- struction projects.” Average yields of new real estate bond issues at their offering ices in November again registered a t in- crease, according to the review's weighted by volume index. The index for November stood at 5.98 per cent, as against 5.72 per cent in October, and 6.08 per cent in November, 1929, First Mortgage Loans Lowest Rates of interest and Commission Thomas J. Fisher & Company. Inc. REAL ESTATE LOANS Made at Low Interest Rates TAYLE!IR & !UTHERFORD National 0478 Money to Loan by 1 X Joseph I. W’ Money on Hand to Loan on First Deed of Trust 6% Intorest 643 Louisiana Ave. N.W. Rvercan TELEPHONE AND I Cowpany Ten-Year Convertible 4%% Gold Debenture Bonds * Due July 1,1939 Coupons of these bonds, payable on January 1, 1931, will be paid in New Yorkat theoffice of the Treasurer, 195 B way, or in Boston at his office, 125 Milk Street. These bonds by their terms are convertible at the option of the holder into stock of the Company byt not beyond December 31, 1937. The con- version Jsrlce for the balance of the year 1930 is $166.88 per share; begin- ning January 1, 1931 it is $175.46 per share. A circular setting forth the terms of conversion will be furnished upon application to the Treasurer. H. BLAIR-SMITH, Treasurer. WE MAKE LOANS On improved real estate arded (roughly 5% bushels) and flour California navels, 4.7527.00 rines, 1.75a2.26; grapefruit, 2.50a3.25; kam- quats, per quart box, 25; grapes, Em- peror, sawdust lugs, 2.50; pineapples, 5.50; cranberries, 3.75; Persian limes, 7.00; sp{fle-, bushel baskets, 7582.00; box stock, 2.00a3.00; pers| 1.00; geu'!‘ box stock, 3.25a3.75; lemons, 0. Vegetables—Potatoes, 150-] \d sacks, 3.00a3.25; sweet mbua.hll 1.00a1.25; Idaho baker, 1 3.25; cabl m 75890 turnips, 1.00a1.25; kA Chicago’s municipal air- Marrow at 127 plasters per hundredweight. The present p;loel are 130 and 112 plasters, vely. SUGAR PARLEY ENDS. BRUSSELS, Belgium, December 15 () —The Internatiohal Sugar Confer- ence disbanded today without reaching an Afreemenc. ‘The rock upon which it mlne ::- refusal of the German dele- g situated in Washing- ton and its suburbs. (o] WE have first mortgage money to loan for re- purposes. Teady (o give immediate assistance. We purchase 2nd trust notes secured by improved real estate. Capital Resources, §3.300,000 anditss 1610 K ST.N.W. Bl LY