Evening Star Newspaper, December 21, 1930, Page 72

BONDS ARE HIGHER | IN STEADY MARKET Prime Corporation - Issues Resume Recent Upward Trend—U. S. Group Firm. BY DONALD C. BOLLES, Associated Press Financial Writer. NEW YORK, December 20.—The firm trend of bond prices was maintained for the third successive session today, although some selling developed in sec- ond-grade rails, which have shown a tendency to fdllow the trend of shares. High-grade investment issues of co- | mestic corporations were in _demand and advanced fractional Treasury securities were dull and Trading was confined principally to Liberty bonds Foreign dollar bonds of Euro- pean and Latin American countries were itregularly Only a few of the s road obliget 1y in the upturn turned soft. stern 47,5 Hbfh dropped Boston & and Missouri Pacific 5s improve. continued Baltimore Markets Special Dispal r BALTIMORE, \Ic December 20.— Turkeys be e principal attrac- tion for the Christmas h y s are wanted special demand and all ar- rivals should be timed to reas not later than Tuesday No shipments should be will arrive here on th mission men will be b: stock on hand an opportunity £ If the mat her continues md and’ fa- vorable ship-dressed scalded stock, head and f which is pre- ferred in this market. K y choice fat birds and see that the animal heat 1is out of the bady before shipping Pouliry Prices. ‘The live 1 erably firmer, with lines owing an inc shipments are advisable Monday ‘Tuesday, as comm taking on all available demand from the consu will be very good. The m: today at 34 and 35 cents a pound for young hen turkeys, 8 pounds and over, and 32 and 33 for gobblers, 12 pounds and over, but old hens and toms are not so desirable at 26 to 29, while crook- ed breasts are generally slow sale at 20 to 22, Medium to large mixed Springers in fairly good demand at 20 to 24, but Leghorns will not bring over 15 ot 18, while poor, thin stags. as well as barebacks, are neglected at 12 and 13. A better demand exists for old hens, | 31, pounds and over, at 18 to 23, with large, fat Leghorns sclling mostly at 15 and 16, but poor, thin fowl, a cld roosters, move slow at 12 and Market for young ducks and geese also| steady under a fairly good demand, at| 18 to 20 for the former and 16 to 20 for the latter, but poor ducks under| four pounds are neglected at 12 and 13. Guinea fowl and pigeons also steady, at | 30 to 60 each for the former and 20| a pair for both young and old of tl"”i latter. With the cold weather prevail ing, the demand for dressed poultry has shown an increase, and unless xh(‘u‘ s | a change in weather conditions, large | shipments are advisable for the Christ- | mas hollday, and dressed poultry gener- | ally will bring from 3 to 10 cents a pound over live stock. and | 1 Under Hght receipts the past week, | the egg market has a firmer tone and | shows an advance of 2 cents a dozen over opening prices \londa\ A better; demand noted, and all desirable stock meets with ready sale, in some cases bringing a premium over quota-| tions. Hennery whites and browns; must average 57 pounds and over to| the case in order to bring top prices, as ali small eggs classed as puliets and | are generally w sale at 20 to 25. Nearby firsts closed today at 32 cents e dozen and nnery whites and| browns 34 and will not bring over 30 | Rabbits continue in light demand, | and the market holds firm on this stock | under a fairly g e nearby at 3.50 to 4 00 & for well graa receipls and a f;\un g 100 pounds, graded stghk Wi to 1.40. et po r ing steadygha market shows no change from last ®ek, at 3.00 to 3.50 a barrel for the former and 2.50 latter, but ot bring ove Native and neatby garde n demand and the m the followi I w 4(}(' hu ar turmips, 80 w Live Stock While the live cat until after N show no ch: in \alul‘s is tations today at Li Str Beef cattle, first quality thin, 5 to 6; rougl Shr(p. per pound, stags, 3 t0 4 9 to 10. TWO PUPILS HONORED Jou High School i Names Asheville DES MOINES, Iowa (#)—Two North Caroline high school ~students, both from Asheville, won places in the con- tests recently conducted throughout the | Nation by Quill and Scroll, national honorary high school journalistic so- clety. In the Southeastern States division | editorial writing contest Fred Felmet of | Asheville won fifth place In the same division contest in news | judgment Gertrude Michalove of Ashe- ville won fourth place Results of the national contest were announced by George H. Gallup, heed of the Drake University depart- ment of journalism and national sec- Tetary of Quill and Scroll PUEL OIL GAINS Approximately 10,125,000 barrels of fuel ofl were used by public utility power plants in 1929 to generate elec- trical energy, according to a_report issued by the United States Depart- ment of the Interior. This is 41 per cent greater than the 1928 consumption of fuel oil for the seme purpose. Y Plans Short Selling Ban. By the Associated Press. lation to prohibit short selling of farm preducts is being prepared by e sl 5 Pt Contestants. . but current receipts | . Soeiety | | bani ~—1930— Low. 102, 98.26 Lib3s1932-47 103.2 100.10 103.27 100.28 10212 98.30 10225 99.1 107. 108. 109.4 105.16 113.14 109.24 Hich. FOREIGN. ~—1930— Hizi. Low 100 99% Argentine s June ‘69.... 9 Argentine 6s A '57 Australia 53 '55 Austria 7s'43. 99 Bank of Chile 6148 '57 100% Bank of Chile 63%5 1961 106 Belgium 6s 55 111% 84 106 Burdeaux 65 '34. 881y Brazil 6%s 1926-57. 102t Brazil 85'41....... 1061 i Canada 58 '52.... 3 Chile Republic 68 1060+ Chinese Govt Ry 5s '51. Colombia 6s 1961 Jan. Copenhagen bs '52. .. Czechoslovakia 8s 51 Denmark 55 1955. + Denmark fs 42 e Dutch East Indies 6s 41.. » Dutch East Indies 6s'62. French 7s " French T3 Greek 6s 1968 . Irish Free State 68 *60 Italy 7s ‘51 ¢ Japanese 614s ‘54. Kreug&Toll 5s ct wi '59. Mexico 45 1004-54. Milan 638 '52. therlands 6s outh Wales '57. Norway 53s. + Orlent Dev 5% '517. Paris-Lyons-Med 6s '8 ¢ Pa Peru 6s '60 Peru 4 Polan Queensland 6347+ Queensiand 7s 41, Rhineibe 7s. Rhine Westphalia 65 '52. . Rio de Janeiro 8s ‘46 Rio Grande Do Sul 65 '68. Seine Dept of %s. Serhs.Croats&Sla Serbs Croats Slov §s '63.. Swiss 58 '46. 100% 4 Toro Elec Pwr 78'55. 1064 : Utd Kingdom 538 '37 991 Uruguay 6s 1960 91 82 Vienna 6s 1952 83% Warsaw 7s 1958 .. 99% Yokohama 68 '61......... MISCELLANEOUS. Abram & Straus 5345’43, . Allexhany Co cv 5844 Am Agri Chem 7348'41... Am Chain 6s 1933, Am 1G Chm 5%51949 Am Internation 518 49 Am Natural G 638 '42. Am Sm & Ref 15t 68 '47., 21, Am Sugar Ref 6s ‘37 Am Tel&Tel cv 4%3 39 Am Tel & Tel s f bs. Am Writ Pap 6s "4 i Armour & Co 4%s Armour of Del 5% Atlantic Ref deb 6s'37. Bell Tel (Pa) ref 58 '48. Beth Steel p m 55 36 Certain-teed 5% s 1948 Chile Copper 55 *47. Colon Oil 6s'38.... Columb G & E deb Comm Invest 5%8 4 Comm Invest deb és % Con Coal (Md) 1st ref 5 Detroft Edison ref 65’40 Dodge 65 '40. . Duguesne 4%s 1967. + East Cuba Sug 7%#'37... General Cable 6%s 1347, % Gen Motors 6s "37. . Goodrich (B F) 638 47 Goodyear Rub §s 195 Humble O & R 5% Inland Stee) 445 1978 Inter Cement 65 "48. Inter Match bs '47. Inter Mer Marine 6: Inter Paper 5s A ‘4 Int Tel&Tel cv 4%8 Kan Gas & Elec 4148 80. 45 Kendall 5%s'48 (war). 100 Lackawanna Steel § 101 Laclede5 s D '60. 9815 Liggett & Myers 58751, 100 Loew's Inc 65 '41 wa: 91% woew’s Inc 6s ex war'4l Lorillard 6%s '37. Manat!{ Sug s £7%s 42, dvale Steel 5536 Montana Power 58 1 Nat Dairy Prod 53%s 48 t Radiator 6328 194 1064 N Y Tel 4148°2 N Y Tel fis'll North Amer Ed 68 '67 Pacific TelkTelS 2 Pan-American §s '34. Para-Fam-Lasky €8 '47 ¢ Philadelphia Co 6s *67 Phil&Read C&I 68 wi Philips Petrolm 5839 : Postal Tel & Cab 5833 ning-Rand 6} Sinclatr Ol 78'37..... Sinclair Crude Ol 5%s. 4 Sinclair Pipe Line 65’42, , 103 Southwes Bell Tel 55'64.. 100% Stand O1I N J s 95 and OI N ¥ ¢ 90% T 97 Transcon O1l 6%8 38 90% United Drug 58 °'53. U'S Rubber 1st & ref 58 ! 100% 100% 106 1044 981z 18 ar st Orfente ba '42.. 22 nessce Copper 65°41.. 945 904 109% 9674 70% UNITED STATES GOVERNMENT. Low. 101.26 102.26 103.15 102 102.14 196.10 108.10 112,18 112.8 High. Low. 0 17% 103% 720 23 55 97 109% 100 1041% 813 681y 5 105% 661 1015 854 1041 99% 99% 104 1025 96% 18 Utan Power & Light6s... 9&% Ctilities P & L 5%8°47. Walworth 68 '45 108.12 +.10 11212 +2 Net Close. Chae. 90% -+ 3 90% =4 1097 109% Co 1st Younntuwn s RAILROAD. % Atch T& S Fead) 4505 Atch T & S F gen 4s '95. Atch To & S Fe 434548 Atlantic C L 1st 45 ‘52 Atl Coast Line 4 %; B & O gold 4548 B&Ocv4%s'33 Balto & Ohlo 58 B & O ref 55'95. B & O ref 6s D 2000, Balto & Ohio 6s '95 B&OPLE& W Va ds. B & OS W Div b Bangor & Aroos 4s Boston & Maine 5s '67 Broadwy & 7th Av bs '43. Brooklyn Manh 15t 6s A. Brooklyn Union 3 Canada National 414" 5. Canadian Natl 4% Canadian N Centra. Pacitic 4s 49 Central Pacific 53 1960 Chesapeake Corp 68 '47. Ches & Oh gen 43458 '92. Ches & Ohiu 4% 'Y Ches & Ohio 425 B '95 ChiB&Q4s B 77 Chi B & Q ref 63 °71. Ch & East 11l gen 68 Chi Great West 48 '59. Chi M StP& P 5375 Chi M St P & P adj 5s. Chicago&Nwn cv 4 2 Chi& N W 6las Chicago Rys 68 Chi R 1& Pac ret 4 Chicago RI41:s A Chi Union S Chi Union Station 6s. Chi & West Ind con 4s Chi & West Ind 5348 '6 CCC&StL6sD. Cleveland Term 58 B '73 Lle\eland Terminal 5 Colo & Sou ref 43%3s '35 Cuba R R 58 '52. Cuba North b%s "4 Del & Hudson 5%s 37 Den & Rio Grande cn 4 Den & R G West b Den & R G West 58 '78 Detroit United 4348 '32. Erie s . Flor East Coast 53 '74 Fonda J & G 4%8 '52 Grand Trunk s £ deb 6 Grand Trunk 7s '40. Great North 48 76. .. Great Nor gen 5% ‘52 Great North gen 7s ‘36 Havana Elec Ry 5% Hudson & Man adj 55'6 Hud & Man ref 6s '67. [llinots Cent ref 4s '55 Inter Rap Tr 58 sta '66 Inter Rapid Tran 68 52, Inter Raptd Tran ev Inter Gt Nor adj ‘65 Inter Ry Cent Am 6%s Kan City South 3s 1950 Kan City South 5s '50. Kan City Ter 1st 45 '60. Lake Shore 4s '31. Lehigh Val cn 4s 20! Louls & Nash uni 48 "40. Market St Ry 7s A "40. Mil El R & L 1st ref vs Minn & St Liref 48 3. MStP&SSM6%s 3., Mo Kan & Tex 1st 48 Mo Kan & Tex ad) s '67 Mo Kan & Tex pr In 5sA. Mo Pacific gen 4s°75 Mo Pacific 55 A ‘65 Mo Pacific 55 Mo Paclfic 55 G Nassau Elec N Y Cent deb N ¥ Cen ref imp N ¥ Cent deb 6s '35 s NYCh&S Lref5%s B. New Haven deb 48 '57. NYN H&Hcvdebsl. N ¥ State Ry N Y Wes & Bos 4345 Norfolk & W en North Pacific ;' North Pacific North Pacific 58 D 2047, North Pacific r 1 63 2047 Ore Wash 1st ref 43 '61. Penna cn 4% 1960 Penn 53 1964. Fenn gen 6568 Penn 6%s '36 Pittshgh&WVa 478 Reading 4%s 97 R1Ark & L4%s'3 St L Iron Mt gen 5i M SIL&SF 4%s St L & San Fr os B ‘50 St Louis S W con 483 StPKCS Line 438 41 Seaboard A Liref 48 '59. Seaboard A L con 68 '45. South Pacific col 48 49 South Paciflc ref South Pacific 4% Southern Pac 41:5 Southn P’ac Ore 4 Southern Ry gen 4s Southern Ry 1st 559 4 Southern Ry gen 63 ‘56 South Ry dev 6%s ‘56 s Third Ave 1st ref 4s 60 Third Ave adj 53 ‘60 Union Pacific 15t 48 '47 Union Pacific 48 '6 Un Pacific ref 4s 2001 Vvirginia Ry 1st 58 '62. 4 Va Ry & Power 55 '34. Wabash 4348 1978 Wabash 1st 6s'39. Wabash 58 B 1 Wabash &8 ‘16 West Maryland 4s '63. . Weet Maryland 5%s '77 Western Pacific 58 46 Weltarll Union Tel C%l CCC&StLrf4%sETT. N YNHG& Hart 4%s'67.. High. r&- Close. Shie. 1004 554, 401 105 -u . 10814 101% 9% 1034 109 108 9314 . 100% 994, 1007 105 105% 1004 1001 105% 109 +2 98% +2 102% +2% 103% — 15| g 6 70l +3% 9le + % 9915 +21 101 105% — % 1054 —2% 100% — % b5's + % % 8015+ 113 28 -2l 27 105% + 4 110% + % 9Tle +24 106% - 1% 109% + % 2% —2% M -y 105% +1% 107% +1% 9% — % 1071 69 +3 92 +6 114% +4% 104 - % 3 - % 6 1% 79 -2 9Th +2% TH +1% 93 110 92 103% + 101 991 +1% 103% +1% 109 +2% 107% + % 93 - % 100% +3% 23, | $334,000,000 on the year. 99% +274 92 +4 94 +314 102% =14 101% + 82 -4 g 101% — 1% 91tz +6% 91y —219 78 43 9215 +2 90% + W 4 West Shore 1st ¢ 236 B + BOND PRICES GAIN QUICKLY AS BANK SITUATION CLEARS Special Dispatch to The Star. | NEW v have been the satisfaction de- | he situation by investors arket at least provided | erest this week. Prices dur- e first three sessions continued | ir slump down to the lowest levels | n eight years, and in the last three | cssions recovered most of the ground | lost in the past two weel All this was | complished on only a moderately | Feavy volume of trading. | Causes for Change. “ ‘The cavses for these movements are not hard to find. After the critical bank situation of the week before had | been cleared up and the liquidation by | mostly taken care of, stocks dipped into new low ground and cre- ated another wave of forced cashing of bonds. When stocks turned upward on | Wednesday this load was removed and, althouzh the advance was made on | quiet trading at first, bond prices surged | back from their lows like springs from | wrich a great weight has been removed. | As the advence proceeded, volume be- | came heavier. The market, was going along at a swift pace by the end of Fri- day’s sessiin. Measured by the averages, this move- ment does not appear so radical, owing to the steadying influence on index fig- ures ot high-grade bonds, which yielded but little in the long decline. Never- theless Standard Statistics’ index of 30 representative issues tells the story. The index of 30 bonds ended the week just above 95, compared with 92.6—the low point reached Wednndn 3.4 a week ago, 96 twe weeks ago, 98 a month aj and 101.9, which 'l|= the high of yev:‘_r'.wwucmufl: i i this index were the rails and the in- dustrials. At the end of the week 10 YORK, December 20.—What- | railroad bonds stood at 100.8 against 98 | market, that much new financing would | on Wednesday and 100.5 a week ago. Ten industrals recovered to 85.7 after | touching 83.3 on Wednesday and 85.5 a week ago. Ten utilities were at 97.7 against treir low point of 96.6. Issues of secondary merit, such as St. Louis-San Francisco 4';s, Erie 5s, Dodge Bros. 6s, and Cities Service 5s of 1950, fluctuated 5 to 8 points in the week. High-grade descriptions like Atchison general 4s, and American Telephone 5'.s moved within the com- pass of a point and foreign dollar bonds | such as Italy’s 7s, German 5!3s and | Japancse 5':s varied 2 to 3 points. Outside developments were more in the market's favor as the week ended, with reports of a heavy Christmas re- tail trade and announcements of the formation of pools to support outside markets. One such pool was formed in | Montreal, where its work was shown in | the firmness of Canadian investment securities. _ Another formed by New York b: up bond prices. The weaknes§ of rail- road securities, which hed extended in its most acute stage all the way back to early September, was tempered dur- ing the week by estimates showing that all of the legal rails but two would earn the 112 times fixed charges ratio neces- sary to remain legal for savings banks and trust funds in New York State. Foreign news was no better than the week before, but it was no worse. Bo- livians and other South Americans | were depressed by the request for an | extension by Bolivia and the default, | temporarily at least on a Rio de Janeiro bond issue, but at the end of the week even these bonds recovered part of their losses. Buenos Alres had a credit ex- tended here. Berlin and a New York banking broke off negotia- was reported nkers to prop | ‘lmns for a loan, but it was reported that German bankers had taken care of the city's needs. Australia’s inter- ! nal conversion loan of $140.000,000 w | most surprisingly oversubscribed. Spain’s | troubles continued and the peseta was | further depressed. | | It was not to be expected, in such a be seen. The week’s total of new bonds ||| First Mortgage Loans | In Arlington County and Alexandria, Virginia Commonwealth Investment Co., Inc., 806 15th N.W. Phone National 2623 Mortgage Loan Correspondent for The Prudential Insurance Co. of America First Mortgage Loan Applications Invited at 515% Glover & Flather 1508 H St. N.W, National 1753 (Continued From Second Page.) —1930— l!(l!l Low. Stocks and Dividend. 84 Rem Rand 1st pf (1) Rem Rand 24 of (8) Rensselaer & Sara (8 Reo Motor Car (.80) Republic Steel Republic Steel pt (6). i Revere Copper & Bras Revere Cop&Br of (1) Reynolds Metals (2).oce Reynolds Spring. . Reynolds Tobacco A (3) 75 Reynolds Tobaceo B (3) 43 Rhine W El P (2.14) Richfield Oil. . Rio Grande Of1 Ritter Dent Mfg (13)... Rossia ins or am(2.20), Royal Dutch (a3 2165).. 397 Safeway Stores (5)..... 4T% Safeway Stores pf (6).. 91 Safeway Stores pf (T)... 4 St Joseph Lead (13)... St Louts & San Fran (8). 49% 4 St Louls & San F pf (6). 704 St Louls Southwestern.. 24% St L Southwester Savage Arms (2). Schulte Retall Store: Schulte Stores pf (8). 12"u 1% Seacs Rosbuok(123) .12 510 econd Natl Inv. 31y econd Natl Inv pf. o 40 Seneca Copper. 1% Servel Inc. 4 Sharon Steel Hoop arp & Dohme. Sharp & Dohme pf (3%) Shattuck (F G) (11%).. Shell Transport (a2.43) . Shell Union Ofl 5 Shell Unfon Ol pf(5%). Shubert Theatre: Simmons Co Simms Petrol Sinclair ConsolOil (1 Sinelair Consol pf (8)... Skelly O11 (2). . elly Ol of (6) . Sloss-Sheffleld Steel Sloss-Sheflield pf. Snider Packing Co. Sulder Packing pf. Sovay Am Inv pr ww 5% South Porto Sug (1.40).. SoPorto Rico Sug pf(8). 107 4 Southern Calif Bd (2)... 44% Southern Dair A (1%5).. 13 Southern Dairies B. 3% Southern Pacific (6) 96 715 Southern Raflway (8)... 59 Southern Rallway pf(5). £2i4 Sou Ry M & Ohlo cfs(é). 72 Spalding (AG) (2).. 35 Spalding A G 1st pf ('l). Spang Chalfant & Co. Spang Chalfant pf (6) Sparks Withington (1 Spear & Co pf (7). Spencer Kellog (80 picer Mfz. Spicer Mfg pf ( Spiegel-May-Stern. Standard Brands (1.20). Stand Brands nf (7) Stand Comm Tobacco Stnd Gas&Elec (3%). Stand Gas & El of (4)... Stand Gas& Elec pf (6). Stand Gas & Elec pf (1) 12 26 " 100 174 191, 2214 Stand O1l Export pf 15) Stand Oil of Kan (2) Stand Oil of NJ(+2) Stand O1l N Y (1.60) Starrett (L S)(12%) Sterling Sec A). Sterling Secur pf (1.20). Sterling Seccv pf(3)... Stewart-Warner (2). 2 Stone & Webster (4) Studebaker Corp (3). Studebaker Co pf (7 Submarine Boa Sun Ofl (11). Sun O11 pf (6). Superheater (13%3). Superior Oil. ... Superior Steel. Sweets Co of Am (l) Symington. . Symington Class A. Telautograph(11.40).. Tennessee Corp (1). Pac Land Trust.. Thatcher Mfg (1.60). ‘That'er Mf pf (3.60).... i The Fair (2.40) The Fair pf (7) Thermoid 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).. Water As O f (6) Water Oil (80c). Tide Water Ol pf (6)... Timken Det Axle (80c). Timken Roller Bg (3) acco Prod(A)( Transamer! Transue & Willlams (1). 5% Tri-Continentl Corp.... High. Low. 920 I+ +1+1Vv+11 FEII b+ +¢ +iEl0 0+ + 1!+\H|I11HH+’+‘|+<4 B.v):‘vlgfndh!l!‘:s u'l;’lvtl u’:“l R ndtea o the X Exlvidend Vearily et S o Hiein *1‘“‘. d Fayable stoc £ Plus 10% in stoc! i 8% In stock. k Plus fi 4 Unfon Carb & C (2.60)... 4 Utd Gas & Improv (1.20) 4 United Paperboard. 4 Utilities P&S(A)et2. | West Penn Elec pf (7).. P , Western Dairy A (4).... %« Willys-Overland... 4 Woolworth Co (2.40. FINAN IAL. Twin City Rap Tr pf(7). ¢ Ulen & Co (1.60). 00000t Underwood-El-Fish(5), Underwd-Ell-F pf (7) Union Bag & Paper. Union Oil, Calif ($2) Union Pacifie (10). Union Pacific of (4). Union Tank Car (1.60' United Afreraft. United Afrcraft pf UnitedBiscult (2). United Carbon (1) United Cigar Store United Cigar of.... United Corp (50¢). United Corp pf (3) United Dyewood pf (7).. United Elec Coal United Fruit (4).. United Gas Imp pf (5).. N Utd Plece Dye Wks (2).. Utd Piece Dywks pf 6%. U S Distributing........ U S Distributing pf (7).. U S Express....... U S & For Sec. U S & For See pf 7 S Freizht ll)‘... Hoffman. U'S Leather pr pf (Tre.s U S Pips & Fdy (2). U S Plpe&Fy 1st pf 1.20. U S Realty & Imp (3). U S Ruhber... U S Rubber 1st of. U S Smelting & Ref (1). US Smelt & Ref pf(3%) U S Steel (7).. U S Steel Corp pf (1 United Stores A. United Stores pf U S Tobaceo (4).. Universal Leaf Tob (l). Univ Leaf Tob pf (8). Univ Plctures 1st pf (8). Pipe & Rad Vadasco Sales. ... Vadsco Sales Corp pf. Vanadium Corp (3) Van Raalt, Virginia-C: Va-Caro Chem 6% pf. Va-Caro Chem pf (7). Va Elec & Pwer pf(6) n, Va Iron Coal & Coke. Vulean Detinning (4) Vulean Detinning pt (7) Wabash pt (A) lfi). Waldorf System (1 Ward Baking pf Warner Bros Plet. Warner Bros pf (3.85).. Warner Quinlan Warren Bros (3) W’ren Bros ev pf (3). Warren Fdy & Pipe (2). Webster Eisenlohr. Webster Eisenlohr pf(7) Wesson O11 & Snow (2). g-umfl Ofl & Sn pf (4). West Penn Elee pf (6) n Power pf (7). Western Md 24 pf. Western Unlon Tel (3).. Westinghouse Alr B (2). Westingrouse E & M(5) Westinghse E&M pf (5) Weston Elec Inst (1)... Weston Elec Ins t A (2). West Vaco Chlorine(2) Wextark Radio Str: Wheeling & Lake Wilcox & Rich (A) $%.. Willys-Overland bf (7)., Worthington Pump. Worthngton Pumn B(6) Wright Aeronautical Wrigley Wm Yale & Towne (2).... 4 Yellow Truck & Coach. Yellow Tr & Coach pf. .. Young Spring (3). . Youngston Sheet & T (5) Zenith Radlo. ......... RIGHTSEXPIRE, 4 Peoples Gas Chi. JBII 15 10 bove table 1 Partl. it ihstock e Baia fast yeare-ng fefiler 1 when earned. e Payab 3 us in stock. tock. o Blus B |4+ $r [ R Y N RN | FHLEE LA H] T4++++++0 441 % FEEAFL L+ LR N R N e P+ 2R3EE2 aa— E333 ¥ F snnual cash Jleclartions. § Payable 1n hElus “‘”,,,".'uefl,' -3 was $21.487,000 compared with $12,- | tions is apparently over. 920,000 last’ week and $225,569,000 in i the like 1929 week. Figures published during the week showed that insurance company hold. ings in bonds have increased by $83, 000,000 in the last quarter, and by | Also, savings | banks_increased their bond portfolios by $27,000,000 in the last quarter and $108,900,000 on the year. This was significant in-as-much as many market commentators have laid the selling of the past quarter at these very doors. There is little doubt that there was | some selling by insurance companies | and savings banks in readjusting por folios and to satisfy policyholders’ de- mands for loans and depositors’ with- | draw But evidently they bought | more than they sold. | The heavy selling from the commer- cial banks and other investing institu- Loans made in District o7 Columbia and 20-mile radius within 24 hours. No Endorser % 7 % Money to Loan 2 sy = ‘The year end is at hand with its reinvestments to be made.. Tax selling for income purposes will soon be over. New issues have given-the market a respite. All these | factors, together with the certainty that cheap money will last some time yet, promise well for the future, (Copyrighf ) Japan expects a recnrd rice crop of 3,350,000,000 bushels this season. P We have funds to lend on improved and unimproved REAL ESTATE in D. C. Wm. H. Saunders Co., Inc. 1519 K St. N.W. Joseph |- Woll Bt ol § Money on Hand to Loan om First Deed of Trust 6% [Interest Reasonable Commission and Prompt Replies to Applications . JAMES F. SHEA 643 Louisiana Ave. N.W. MOODY SURE 1931 , WILL SEE UPTURN Necessary Deflation Has Gone Far Enough to Supply Basis for Recovery. BY JOHN MOODY, President, Moody's Investos Spectal Dispatch to The Star. NEW YORK, December 20.—I can- not think of any time in the past when the coming of a new year coulq be greeted with more all-around relief than the present. That does not mea; of course, that 1931, simply because involves a change of date, will exert some mystic power on the whole busi- ness situation. But considering what has happened| this past year, there is bound to b turn for the better soon. Necessary dee flation has proceeded in all lines now, In the early months of 1930 we had price deflation among commodities —:r} this has gone far enough to provide the basis for a recovery. In fact, tak- ing in sail has gone on in all depar ments of commercial and for more than a year. In in the work of correction has -comple it has been 3 community ' that has rapidly deflating. A’ certain number over-extended banks have had to face the situation by closing their door ‘The work of consolidation and retrench- ment among brokers and _security houses of all kinds goes on. This part of the corrective process always in- volves some startling developments that tend to unsettle confidence for the moment. No doubt, a large part of this deflation, too, has been accom- plished. But it has been later in mak- ing its appearance than the industrial deflation and the passing of 1930 S not leave the situation cnm')ledofy cured. On this account, it would be rash to look for quick improvement from this point on. It is only distorted perspec- tive that regards a quick and sudden recovery as probable now. The tu for the better is far more apt to make its appearance in the Spring of the year than at any other time. That will give us several months to iron out the difficulties that still exist Perhaps the most fortunate thing in the whole situation is the soberness and calmness of thought that I see ever: where now compared with a year ago. That will be a powerful influence in starting us off on the right foot when we do start and it is also insurance against the depression continuing too far. I see, as a matter of fact, every reason to suppose ‘that the situation’ will turn about within a comparatively few months. o i BANK CLEARINGS. ¥ NEW YORK, December 20 (Special). —New York bank clearings, today, $1,150,000,000; a year ago, $1,176.000, 000. New York bank balances, today, $96,000,000; a year. ago, $142,000.000. New York Federal Reserve credit bal- ances, today, $82,000,000; a year ago, 130,000,000. / THE \ COMMERCIAL NATIONAL BANK Let us serve you in all banking and fiduciary matters. Interest paid on savings accounts from day of deposit to day of withdrawal. Resources over $19,000,000 WADE H. COOPER. President 14th and G Streets CAPlTAL WANTED FOR EXPANSION An Exceptional Income Offered —by a company doing a business in relaticn to a prime commodity that yields a large return with reasonable safety. No funded or floating in- debtedness. Every, dollar will be used to increase asscts and earn- ings. Strong reserve; low overhead. Control and management shared. Investigation invited. Address Box 22-E, Service Star Office Investment Experience Municipal, Legal and Guar- anteed Bonds; Bank Stocks, Insurance Stocks, Preferred Stocks, Common Stocks. All Well Sponsored Fixed Trusts Robert C. Jones & Co., Inc. Investment Bankers Investment Building. Met. 2022 “Consult Us About Your Investment Problems” to $300 Under State Supervision This Holiday Season Naturally Brings a Host of Bills It is not necessary to begin the New Year burdened with financial cares . . for we can consolidate your debts into one, and allow you to. repay us in small monthly payments . . . arranged to conform with your income . . without the embarrassment of securing endorsers. We give special and prompt attention to applicants desiring money for Christmas. Our Service is Personal and Confidential, and additional information will be cheerfully given. People’s Personal Bankers, Inc. 3308 Rhode Island Ave. Mt. Rainier, Md. Hyattsville 17701771 Public Small Loan Co., Inc. Rosslyn, Va. Cli de ntl\we“‘ ll':l“!‘;“l Phones: 8405 Ga. Ave., Silver Sj Phones: Bethesda Personal Bankers, Inc. 6982 Wluonlln Ave, Phone Wisconsin s Maqlmd Personal Bankers, ing, Md. Shepherd -2853 The Above C.ncum. Operate :I;du the Uniform Small Loan Law as Sponsored by the Rus. ge Foundation and as Super- vised by State Banking Department SAFE Over a Third of a Century Without a Loss FIR ST MORTGAGES WHAT YOU WANT IN AN INVESTMENT —is assurance that the prin- cipal is safe, that the interest will be liberal and promptly paid. Our 6% FIRST MORTGAGES are such an investment. You can tell the value of your hold- ings to the exact dollar at any time and know definitely what the earning will be. May be purchased in amounts from $250 up. SAUL CO. 925 15th St. N.Wiyq SUBSTITUTE _FOR . SAFETY .