Evening Star Newspaper, December 22, 1930, Page 14

DECEMBER 22, 19%0. FINANCIAL. [ o BONDS o] | [ONNODTY PREES CONTNUE DECLI THE EVENING STAR, WASHINGTON, D. C., MONDAY, IBONDS IRREGULAR IN SMALL MARKET FINANCIAL. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. A—14 E¥x MERGER OF LABOR UNIONS 15 LIKELY UNITED STATES. h. Low. Close. (Sales are in $1.000. a Sal Diviiend "Rate, Add 00, High. Sareway Stores (5). St Joseph Lead (13). (Continued From Page 13.) A gl Low. Cioes. Oiae. 4o 42 44% 44 45k 22 High. 6 101 28 62 102 30 10 Lib 1st 4%s. 10228 Mor&Colstd4%s.. 8 T9% 794 T9% Stock and Dividend Rate, A. F. L. and Railroad Broth- erhoods’ Officials Said to Favor Plan. BY JOHN F. SINCLAIR. . Sipecial Dispatch to The Star. NEW YORK, December 22.—The merger of the 500,000 dues- ing members of the four railroad erhoods with the 3,000,000 dues- paying members of the American Fed- eration of Labor is an cxcellent idea. The four brotherhoods—the Rail- road Trainmen, Locomotive Engineers, Locomotive Firemen and Enginemen, and Railroad Conductors—are not at resent affiliated in any way with &e American Federation of Labor. Arthur F. Whitney, president of the Brotherhood of Railway Trainmen, has already said he does not believe there are any serious obstacles in the way of the merger and both William Green, president of the American Federation of Labor, and Secretary of Labor Doak, ‘who was formerly the legislative repre- sentative for the Brotherhood of Rail- way Trainmen, are understood to favor the move. Labor needs a united front. It needs better equipped research departments. It needs—not agitators—but executives, ‘who are just as able and competent to nt its side of any question as are representatives of big business. ‘The Brotherhood Unions have always been considered the leaders of union labor. But they have, by their attitude, ‘weakened labor’s voice in the country. ‘The proposed merger 1s a “big jump” for labor. Unemployment Aid. ‘The Brotherhood Unions, with head- quarters in Cleveland, have been meet- ing their own unemployed problem in their own peculiar way. And how? Mr. Whitney, speaking for tie Trainmen, says that they are reducing mileage vol- untarily and thus accommodating more men, without increasing the expenses of the railroads at all. For wages are based entirely upon a monthly mileage Already the “Big Four,” the Soo-Line, the Boston & Maine, the Reading and a half a dozen others are using the plan. Mr. Whitney expects it shortly will be extended throughout the country. But probably not all of the 40,000 unem- ployed in his union out of the 180,000 members will be taken care of in this way. David B. Robertson, president of the Firemen and Enginemen, is working on a similar plan to relieve the situation of the 30,000 idle members of the 110, 000 belonging to his union. The_four Brotherhood Unions, how- ever, have a more ambitious plan in mind for future decision. It is the six- hour day at the present eight-hour . This subject is receiving plenty of serious discussion in many railroad offices these days. g How much unemployment will be re- lieved by the Federal appropriation of $116,000,000 for emergency construc- tion work? It is hard to estimate, though road construction work gets far the largest part of it. Bear in mind, this large sum must go into seven def- inite channels, as follows: Pederal aid highway system t6 States ... St Rivers and harbors Flood control of the Mis- sissippi and tributaries. . Highways in national for- ests Roads and traiis in’ na- tional forests $80,000,000 22,500,000 3,000,000 3,000,000 3,000,000 3,000,000 1,500,000 vse.. $116,000,000 Both Senator Walsh of Massachu- setts and Senator La Follette of Wis- consin deprecated the sum as being al- together too small to meet the dis- Senator Couzens of Michigan ob- Jected on the nd that the legisla- tion, as passed, did not provide that “local labor should be used on Federal building contracts.” He also wanted to insist that contractors must maintain a high standard of wages and not be al- Jowed to lower wages because of the present situation. Hel‘z’:y Ford is usually given credit for originating the high-wage theory, which has made his name famous through- out the world. But Senator Couzens’ friends say that while the Senator was eneral manager of the Ford Motor Co. ‘w inaugurated the wage system and convinced Mr. Ford of its soundness. “If it is necessary for conditions to get worse before they .get better, I am to make those conditions as bad as possible, if that is necessary, to im- press on contractors and employers the necessity of maintaining a high wage standard,” said Sepator Couzens, Sat- urday. £ But the House of Representatives, in this fight, was complete master of the situation.” It forced the Senate to Te- cede from every Senate amendment. The House bill, without amendment, was passed and signed by the Presi- ent. b However, no Christmas week news could be better for the thousands out of work than the passage of this bill, and we need more music of the same kind. New Soviet Premier. ¥, Molotoff, Soviet Russia’s new wremter, 18 just 40 years old. He bears 8 striking ~ resemblance to the late Theodore Roosevelt, with his pince-nez, heavy, drooping black mustache, broad forehead, abundant head of hair and strong masculine jaw. While he is the understudy and right-hand man of Joseph Stalin, the iron dictator of Russia, he has led the life of the political agitator and out- cast since he was 22. At 25 he was arrested by the Czar's troops and spent two years in prison for counter-revolu- tionary activities. After release from prison’ he helped to start two radical newspapers in Petrograd, now Lenin- d. Twice again—in 1912 and in 1915—he got into the clutches of the Russian law_and was sent to Siberia. Both times he escaped, and when the boisheviks came into power 14 years go he was ready to join in advancing & communistic state. Today he is a member of the Polit- buro (Communist Political Bureau) and the inner circle of the Central Execu- tive Committee of the Soviet gu\'ern-l ment. | Alexei Rykoff, level-headed peasant who has been premier of Russia for a decade, disagreed with Dictator Stalin. He was removed from office. Russia is a land of ideas. But there 15 only one who is boss in both busi- ness and politics—and that is Stalin. Nobody is strong enough to oppose him. Trotsky tried it, and he was banished. Rykoff, top man, tried it with no better success. Stalin, son of a Georgian peasant, is more powerful today than any Czar—or Lenin either—ever was. ight, 1930, by North American News- o paper Alliance.) semncrenbil BANK STOCKS DEFLATED. NEW YORK, December 22 (Special). —A study of the recent changes in New York bank stocks reveals the ex- o tent %o -which they, like every other class ‘of securities, have been deflated st year. In the panicky mar- ’ltt?xp;lch’lwckx last Wednesday the yield on 16 issues was over 5); per cent. Only three months earlier it had F45% 28% Link Belt (2.60 81% 39 Liquid Carbonic 95% 41% Loe 112% 85% Loe 6% 2' Loft Inc. 70% 40% Loose-W! 28% 8% Lorillard (P) Co. 37 Ludlum Steel pf..... 2 74 37 McCrory (A) (2).... 308 97 78 McCrory pf (6)..... 208 19% 14% MclIntyre Porc M (1) 1 8914 61 McKeespt Tin P1(16) 8 87% 101 McKesson & Rob (1) 4 49% 25% McKes & R pf (3%). 3758 20% 6 McLellan Store 2 8815 83% Mack Trucks (4).... 159% 86 Macy & Co (nt3) . 15% 5 Mad Sq Garden(60c) 5215 19% Magma Corper (3) 50 5% Manati Sugar pf. 15 6 Mandel Brothers 421 24 Man Elev mod g (d5) 75 46% Manhat Elev gtd (7). 108 24% 6% ManhatShirt (1).... 2 821% 17% Marine Mid (1.20)...659s 55 21% Marlin-Rock (t5%). 30% 5'% Marmon Motor Car., 48% 26 Marshall Fleld (2%) 8% 3 Martin PArry....... 51% 30% Mathieson Alkaif (2) 23" 5 Maytag Company.... 8415 68 Maytag Co Ist pf (6) 4015 15 Maytag Co pf (3) 23% 6 9215 69 26% 28 37 9% Mexican Seaboard 33% 7 Miami Copper. 77 38% Michigan Stl (h! 33 11 Mid-Cont Pet (2) 53 15% Midland Steel (3) 2874 Minn Moline Pow. 14% Mo Kan & Tex (3). 60 Mo Kan & Tex of (7) 20% Missouri Pacific...es 79 Missourt Pac pf (5).. 9% Mohawk Carpet. .. 18% Monsanto Ch (g1%). 161 Montgomery Ward. 48% Morrell & Co (4.40) % Mother Lode. ..... 1% Motor Meter G & El. 25 Motor Products (2).. 14% Motor Wheel (3).v00 20% 6% Mullins Mfg... 64’% 37 Mullins Mfg pf (7) 5314 25% Munsingwear (t4) 25% 9 Murray (B)(2% s 5 34 Myer (FE) & Br (2). 58l 214 Nash Motors (4). 26% 6 Nat Acme (1%)... 20 2 Nat Bella Hes: 93 68% Nat Biscuit (13.30) 8315 28 Nat Cash Reg A (14) 62 35 Natl Dairy (260)... 3413 6 Nat Dept Store. . 90 66 Nat Dept St 1st (7) 18% NatDist Products(2) 9% 66% 108% 981y 145% 40 63% 49% 72 2 11% 81 34 47 22 N Y Air Brake. 192% 106% N Y Central (8 144 78% NYChi&StL(6).. 110% 80 N YCh&StLpf (6). 824 152% N Y & Harlem (5). 32 9% N Y Invest (1.20) 128% 67% N Y N H & Hart (6). 414 Norfolk & Southern. 181's Norfolk&West (112) 4% North Am Aviation.. North Amer pf (3).. North Am Ea pf (6). Ger Lloyd (3.43). 42% Northern Pacific (6). 16 OhloO11 Co (2) 1% Oliver Farm Eq! 15 46% 4l Oliver Farm Eqev 8% 2% Omnib orp 80% 484 Otis Elevn (2 387 9% Otis Steel. 60% 32% Owens 111 G| 19% 4 Pacific Coast. 4% 40% Pacific Gas & El (2). 107% 46 Pacific Lighting (3). 30 15 Pacific Mills, = 178 114% Pacific Tel & Tel (7) 28% 74 Packard Motor (60c) 774 84% Paramnt Publix (4) 36% b Park & Tilford. 4% 1% Park Utah... 26 34 Parmelee Tran 1% Pathe Exchange.... 27 Pathe Exchange (A) 8l Patino Mine: e 3 Peerless Motor Car.. 29% Penney (JC) (3) .. 2% Penn Dixie Cement. . 18 Penn Dixie Cem pf.. 53 Penna KR (4)...... 21% Peop Drug Strs (1).. 854 People’'s Gas Ch (8). 6 Petrol Corp (1%). 20 Phelps Dodge (2) 6% Phila Read C& 1. &1 Philip Morris&Co(1) 10% Phillips-Jones Corp. 3 11'5 Phillips Petrol (n2). 39758 12 Plerce Ofl 2 715 Pierce Ofl 7 26 Pillsbury Flour ( 341 Pirell Italy (a3.14). 201 Pittsburgh Coal. 14 Pitts Screw (1.40)... 2815 Pitts Term C pf. 4812 Pitts& W Va(s).. 11 Poor & Co (B) (2)... 14% PR Am Tob A (3%) 4 PRAmTob(B).... 28 Postal Tel & C pf (7) 11% Prairie Ol & Gas (2) 16% Prairie Pipe L (16).. 3% Pressed Steel Car . 52% Proct & Gamb (2.40) 1 Prod & Refiners..... 11% Prod & Refiners pf.. 656 PubSvNJ(340). . 91% PubSvNJpf(6). 104% PubSv N J pf (6 ERE T ITE PO 40 608 71 60% 1 325 1 2 27% T% PureOfl........ . 36 Purity Bakeries (4). 11% Rad1oCOrp ......e 47 RadiopfA (3%).... 33% WRadio Corp (B) (5).. 14% Radio-Keith-Orph A. Raybestos Man 2 60. Reading Rwy (4).... 314 Real Silk Hosiery(3) Real Silk Hos pf (7), 108 Rels (R) & Co 1st pf 2008 1 Reo Motor Ca Republic Steel Republic Steel pf.... Reynolds Metals (2). Reynolds Tob A (3). 40% Reymolds Tob B (3). 4 Richfield Ofl. . . 5 RioGrande Oil. 284 Ritter Dent Mf (13). 14% Rossia Insur (2.20).. 5 37% Royal Dutch #3.2165. 18 Sates— Prev. Add 00. High. Low. Close. Close. 83 17 118 9% 80% 828 80l 8215 24 24% 29 42w Savage Schulte Schul £rav ears R econd Sharon Simms Sou Dais Sparks 4 Spear & Stand B; Stand O! Stand G Stand G Stand G Stand G Stand Of Stand O Stand Of Stand Of Sterl Se Sterl Seq Stone & Studeba Tenness Tex Gul Texas P Thomps Thomps: Timken Timken Tobacco Truscon Twin Cu Und-EiL- union Pacific (10)... Union Pacific pf (4). Utd Cgr Utd Frul Utd Gas U U 47% 17 7 116% 116 u nnRuLRR®® u U u U u u U Ul P& Va El & Vulean Wabash Warner Warren Warren Warner Wess O West E Weston White M Wh Roc! Willy: Wilson Youngs 814 Peop G 10:30 AM. 1:30 P.M Dividend rates payments based on th it of tradini sUnit of 4% in stock §Payab year—no regular bl e B Plus 2% 1% in st T Plus 1n stock ock. 1 Pl 14% 1n stock. Trico Prod (2%) Ulen & Co (1.60) S Steel (7). U S Steel Utd Stores (A). Utd Stores pt (23%). Univ Pipe & Rad in cash or stock. f Plus 105 3 Plus 8% in stock, us 5% in stock. D Plus $1.00 in pri St L-San Fran (8)... St L-San Fran pf (6) St L Southwestern . Arms (2). Retall Str Retall pf (8) Seaboard Air Line b'd Air Line pf e (60c). oebuck I Natl Inv Second Natl Inv p! Seneca Copper. Servel Inc. ... Steel Hoop. . Sharp & Dohme. . Sharp & Do pf (3%). Shattuck(FG) (t1%) Shell Union Ofl. . Shell Un O1l pf (5%) Shubert Theaters. Stmmons Co. ... Petroleum SinclairCon O11 (1).. Stnclair Ol pf (8) Skelly O11 (2).. Skelly Ofl pf (6) .. Snider Packing pf Sou P Ric Sug (1. Sou P Ric Sug pf (8) Southern Cal Ed (2). ries (B) Southern Pacific Southern Rwy (8) Spang-Chal pf (6). Withing (1).. 3 Copt (7).... 608 Spencer Kellog (80c) Spicer Mg pf (3).... 4 Splegel- May-Stern. . rands(1.20).. 11 Exp pf (5). &E (3%) &EDf (4)... & Elpf (6).. & El pf (7)., Stand Invest Corp. . 11,Call(h2%). il of Kan (2). il of NJ (12) M1 N Y (1.60). Starrett (L S)(12%) Sterling Sec (A).... o pf (1.20)... ccv pf (3)... Stewart-Warner (2). Webster (4). Submarine Boat..... ker Corp (3). Superior O! Superior Steel Symington (A).-.. Telautograph(11.40), ee Corp (1). Texas Corp (3).. f Sulph (4). C&Oil..... Texas Pac Land Thatcher pf (3.60). Thermold Co. ....... Third Natl Inv (a2). on (J R) (3). on Pr (2.40). Tide Water As (60c) Tide Water As pf (6) Tide Wat Ofl (pf (5) Det Ax (30c) Roller (3) Tobacco Products Prod A t95c Transamerica (1). Stl (g1.20).. Truax Traer (1.60).. ty RTr (§4). -Fischer (8). Union Carbide (2.60) Union Oll, Calif (32) Un Tank Car (1.60) Utd Alrcraft. Utd Afreraft United Carbon (1). Utd Cigar Stores Store pf(6). Utd Corp (50¢). Utd Corp pf (3 Utd Electric Cos it (4). 5 & Im (1.20). 50108 Utd Paperboard..... 1 Utd Piece Dye W (2) Utd Plece D pf (6%).150: U S & For Secur. U S & For Sec pf (8). U S Freight (3)..... S Hoffman. . Indus Aleo (17) 6 s 2 Plpe & F (2). 4 152 (7). 13 3 2748 11418 S (A)et: Vadasco Sales Corp. Vadasco Sales Cp pf. Vanadium Corp (3). Va-Car Chem. ...... Va-Car Chem 6% pf. Pow pf (6 Det (4)- Wabash. ... PIAA) (5).. Waldorf Systm (1%) Walworth Co (2). Ward Baking (A) Ward Baking (B) . Ward Baking pf (7). Bros Pict. Eros (3).. Fay &P (2). Quinian. ... Wess Oil & Snow (2) & Sn pf (4).. West Penn El pf (7). West Penn P pf (7).. 3 Western Dairy (B). Western Md Weste.n Md 2d pf . Western Pacific pf. Western Union (8).. Westingh'se A B (2). Westing E& M (5).. & M pt (5).. El Instr (1).. Westvaco Chlor (2)..__ Motors (2) k MS (14% White SewingMach White Sew Mach pf. & Co.. Woolworth (2.49) Worthington Pump Wrigley (Wm) (4). Yale & Towne (2) Yellow Truck YellowTruck pf. Spring (3). 2% Zenith Radlo. ... RIGHTS EXPIRE sChi.Jan15 39 266.200 12:00 Noon. 1.259,900 2:10 P.M. iven in the above tabie € latest qUaTterly of Belt Seary less than 100 shares le in scrip. 1Plus 9 46% % | Western 5s, 9% Sales of Stocks on New York Exchange eclaratig lus a Baid" tnis P Payable tn stock. 'd Payable when earned i 6% in stock stock. m Plus eferred stock. DECREASE IN STOCK TRADING FORECAST Holiday Week Is Expected to Bring Letdown in Market Activity. Special Dispatch to The Star. NEW YORK, December 22.—The fact that this will be holiday week enters into the calculations of those whose been a little over 23, per cent. These mh‘m now selling 14', times earn- ings, compared with mnearly 31 times Jast April and over 46 times in Octo- ber, 1929, In spite of the low rates for money. this vear, the shrinkage in se- curities and losses on commercial loans, 3 is understood that practically all of the York banks will show earn- 17gs _to December 31 well above current clividend” payments. . business it is to forecast the trend of markets. It is expected that trading will taper off up to Wednesday Last week the transactions involved in the big decline and the sul ient, rally of the stock market brought a turnover of 34 per cent greater than in the week previous, the total sales of which had been double those of the first week of the month. These were the smallest of the year. It is also ex- branded, pected that there will be adjustments where there have been rapid advances in special groups of stocks or in indi- vidual issues. Some brokers are de- r’ndmx on tradition for a higher mar- et by the end of December, as they find that this has taken place in many years when low averages have been es- tablished about the middle of the month.. In some quarters it is argued that, after Christmas, there will be fur- ther tax selling and also some anticipa- tion in prices of the poor December quarterly statements which will appear early in January. POTATO MARKET. CHICAGO, December 22 () (United Over-the-counter market: Banks, America Bk of U ase . | Chat” Phenix. ol ... Fifth Ave First Natl Harriman i Co.. Nati! Manhat Peoples BK States Department of Agriculture).— LI Potatoes—125; on track, 257; total U. S. shipments Saturday, 622; Sunday, 10; weak; trading slow; sacked, per hundredweight: Wisconsin round whites, Idaho russets, No. 1, 1.70-1. 1.20-1.35; Colorado McClures, 86; unbranded, 1.55-1.65. ing .. Manufacturers New York. . United States’ Xd. Wesichester Title & world. NEW YORK BANK STOCKS NEW YORK, December 22 (#).— Bid. Asked. 56 59 Hunters declare Tanganijika, Africa, to be the best big game country in the Price Changes Slight, as Demand and Supply Are Nearly Equal. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, December 22—Bonds had an irregular trend today, advances just about offsetting gains throughout the list. Volume was only moderate and in many cases there appeared to be a lack of both bids and offerings, causing fairly wide fluctuations without definite trend on either side. Money rates were unchanged and other market factors were conspicuous by their absence. The opening was firm, but hesitant. Then many secondary issues, which have recovered from 8 to 10 points from their lows of last Wednesday, were subjected to some profit taking by spec- ulators. These operations would ordi- narily have been absorbed ~without trouble, but with a thin market they caused breaks of 1 to 2 points, many of which were cancelled in subsequent trading. In the high grade section, Atchison General 4s, Northern Pacific 4s, Chesa- peake Corporation 5s, Chesapeake & Ohio 4!5s, Standard Oil of New York 4155 and Laclede Gas 5'2s were strong. There were small declines in New York Central 4s, Frisco A 4s, Union Pacific 4s? Standard Oil of New Jersey 5s, Philadelphia Co. 5s, Western Union 5s and Youngstown Sheet & Tube ds. Nickel Plate 4'.s were over a point lower on profit taking by those who bought it at its low over 8 points under the current quotation. Convertibles were strong at first, but worked lower as stocks sagged. Solt spote in the second grade rail list in- cluded St. Paul 5s, Erie 55 and M souri-Kansas-Texas Adjustments. These issues were 4 to 11 points above their lows of a week ago. There were small advances in Denver & Rio Grande Missouri-Pacific 4s, Mis- souri-Pacific 555, Western Maryland 4s and New York, Westchester & Bos- ton 4'2s. Among industrials Hudson Coal 5s, Armour of Delaware 5! Goodyear 5s, McKesson & Robbins 51.s, Colon Oil 6s, Brooklyn-Manhattan Transit 6s and Hudson & Manhattan Income 5s were fractionally lower, but there was evidence of continued support in American Natural Gas 6'is, up 4'; points, Famous Players 6s, Dodge Bros. 6s, Goodrich 6s, Postal Telegraph 5s, Pan American Petroleum 6s, Shell Union 5s, Interborough Refunding &s and Third Avenue 4 'Washififlton Stocfi)—(change SALES. Capital Traction Co.—5 at 43%. Potomac_Electric 6% pfd.—10 at 1117, 10 at 11175, Potomac Electric 5!2% pfd—10 at 1073, Continental Trust Co.—5 at 120. Lanston Monotype—10 at 103, 10 at 103, 10 at 103, 10 at 103. AFTER CALL. Potomac Electric 6% pfd.—5 at 1105, ‘Woodward & Lothrop pfd—2 at 107. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Telga. 4'25 '33 & & C. & P. Capital Traction Barber & Ross. Inc.. Chevy Chase Ciub 5ias. ... Columbia Country Club 5325 D. C. Paper Mfs. 65 W. M. Cold Storage 5 Wash. Cons. Title 6s........ STOCKS. PUBLIC UTILITY Amer. Tel. & Tel. (9)........ Capital_Traction Co. (4} Wash. Gas Light Co. (18 N. & W. Steamboat (12g Potomac Elec. Power 6+ bid Brd.. NATIONAL BANK. Capital (14) . Columbia (12 Commercial District (8) Fed.-Am. N. Liberty (75} Lincoln (12) nd (9e) Washington (13) 2 TRUST COMPANY. Amer. Security & Trust Co. (15) Continental Trust (6)...... 1 National Savings & T Prince Georges Bank & Union Trust (8s)......... Wash, Loan & Trust (i4) . SAVINGS BANK. ii2i) Trust.. Potomac (10). 5 A . o8l Security Sav. ‘& Gom. Bk (1) 46 FIRE INSURANCE. American (12).. < Firemen's (8).... National Union '(15)...0..000 TITLE INSURANCE. Columbia (65)......... Real Estate (65) " Title & Inv. Co. Md. com. MISCELLANEOUS. Barber & Ross. Inc.. co - Medical Bide, C Bromo-Sel i Storage 0y Iz, A Fede bid. 8 ‘ed.-Am. Co. CO: Fed.-Am. Co. pf 5 Lanston Morotype (8). er, Tr. & Stge. com. Mer. Tr, & Stee. pid. ( Mergenthaler’ Linotype (6) Natl, Mige. & Inv. pfd. ... Peoples Drug Stores pfd. (613 Real Est. M. & G. pfd. (8)... Security ‘Storage (de) .. Ter. Ref. & Wh. Corp. {3}, (1.50¢ W. Mech. Wash. Med Woodward & *Ex dividend. b Books closed. §1% extra. ell2% extra. MIDNIGHT PROGRAM Upper Marlboro Episcopal Church Arranges Services. Special Dispatch to The Star. UPPER MARLBORO, Md., December 22.—A choral celebration of the holy communion with candle light proces- sion will mark the midnight service in Trinity Episcopal Church Christmas eve, starting at 11 o'clock. At a serv- ice Christmas morning at 11 o'clock some of the special Christmas music given at the Christmas eve services will be_repeated. There will be a service Christmas morning at 9:30 o'clock in historic St. Barnabas' Episcopal Church, near Lee- land. At St. Barnabas’ Episcopal Church at Oxon Hill services will be held Christmas morning at 8:45 o’clock. Midnight service Christmas eve will be held at St. John’s Episcopal Church, Broad Creek. P Salvador Leader Dies. SAN SALVADOR, Republic of El Salvador, December 22 (#)—Dr. Al- berto Rodriguez, formerly minister of foreign affairs, president of the Su- preme Court and rector of the National University, died Saturday. Chile is discussing an increase in im- port tariff rates on luxuries. €12 extra. 80 10 5 100 215 1 Lib 4th 4% s, US3%s"43.., US3%s 7., US3%s, US 484, US4%s'52.. Argentine 5345 .. Argentine 5%s 62. Argentine May "61. Argentine 6s Oc '69 Argentine 63 A '57. Argentine 6s B Australia 4145 '66. Australia 6s ‘55 Australia 5s ‘67 Austria 7843 Bk of Chile 6%s ‘57 Bk of Chile 6%s 61 Batav Pet 435 '42. Belgium 6% s "49. Belzium 6s '55. Belglum 7s '65. Belgium 7s '68. Belgium 8s "41. Bolivar 7s '58 Bolivia 73 ctf: Bolivia §s 4! Brazil 8s 41 Bremen 73 '35 Canada 6s '31 "anada 5 5! Chile 6360, Chile 68 '81. Chin Gvt Ry 63 '51. Colombia 6s Jan '6 Con Pow Japan 7, Copenhag 5s ‘62 Cuba 63545 Czecho 8s ‘61, Czecho 98 5! Dan Mun 8s A *46. ., Denmark 4%s ‘62 Denmark 5%s '5 Dutch East 1 63°47 El Salvador 83 '48., Fiat 7s war, Flat s ex war '46. . Finland 6%s ‘68... Kinlana 78 ‘60 @elsenkirchen 6s'34 German 5%s '65. ... German Bank 6s ‘38 German 6%s '50. German 7s rep Ger Gen E1 7s "45 Greek 6563 Haitl 6s 52, Hungary 7% "4 Irish Free St 53 Italy 78 '51.... . Italy Pub Sv 75 %52, Japanese ‘31 Japanese 5338 '65 Japanese 8153 "54. . Jugosl Bank 7s 57, Karstadt 6s 43 Kreug & Toll 68 ‘69 Lyons €334 Marsellle 65 34. . Mex 45 asstd 1910, Mexico 55 A *45.... Milan 6%s8'532... New So Wales6: New So Wales 65’58 Nord 6%s 50 Norway b8 '63 Norway 6% 65, Norway 6s'43. Norway 6s"44. .. Norway 6s 52 Orient dev 535 58 Orfent dev 6s 53. .. Paris-Ly M 6558 Peru 63 '60 Peru 6561, Peru 7s '69 Poland $s '40. Poland 7s '47. Poland 85 50, FPorto Alegri Prague 7%s 4 60 Queenland 7s '41.. Rhinelbe 7546 ww Rhine West 63 '5z. Rhine West 6s '53. Rhine West 75 50, Rio de Jan 63s 53 Rio de Jan 85 '46 R Gr De Sul 6: R Gr De Sul8s "48. ., Sao Paulo 8s ‘36, Sao Paulo 8s '50. Saxon 7s ‘45 Selne 7s *42 Serbs-Cr S178 '62 Serbs-Cr-S1 8s '62 Sweden 5168 '54 Swiss 5145 "46 Swiss Confed 85 Toho El Pow 6s '32 Tokio 58 52 Tokio 5%s ‘61 Utd King 5% 8 *47, Uruguay 6s '60. Vlenna 6s ‘62. Yokohama 65 "61. Ab& St5%s43... Allegheny 55 '44. Alleghany 55 ‘49 Allis-Chalm 6s '37. Am Ag Ch T%s *41. 4. Am N Gas 615542 Am S&R 1st 5347, Am Sug Ref 63°37. Am T&T cv 4% 539 Am T&T b5 "65. Am T&T c tr b8 '46. Am T&T 6s s £ 60, Am T&T 6%s “43. Am W Wks%s ‘34 AmWat Wks 6s°75. AmWrit Pap 6s'47. Arm & Co 43539 Arm Del 5% At Gulf 598 Bell Tel Pa 63 B '48 Bell Tel Pa 5s C '60 Beth St p m 65 ‘36 Beth St rf 53 '42... Bk Ed gn A 55 ‘49 Cert-td deb 5% ‘48 Chile Cop db 55 Colon Oil 6s'38.... Col G&E bs May '62 Com Invest 5%s 49 Com Invest 6s *48 CC Md 1st rf 53 ‘50 ConG N Y 5%s "5 C Am Sug col 8s'31 Denver Gas 63 '51.. De Edison bs 40 Det Ed rf 63 B '40. Decdge Bros cl 6s'40 Duquesne 4%s '67. East C Sug 7%s'37 Fisk Rub 8s'41. . Gen Cable b1 Gen Motors 6s ‘37 Gen P Sv53%s ‘39 Gen St Cas6%s Gen Thea Eq 63 '40 @eodrich cv 65 "45. . Goodrich 6%s. ... Goody'r Rub bs '57. Hoe & Co 635 '34. Humble O1l 6s '3’ Hum O&R 6% IMIBTI1stprbsA. 11l Steel 4%5'40. . inland Steel 45578 In: Cement 68 48 Int Hydro El 63 Int Match 68 '47 Int Pap 53 A *47 Int Pap 6s ‘55 IntT&T 4%s'52.. Int T&T cv 4%s ‘39 Int T &T53°55. ... Kan Gas&E 4% s '8( Kend 6% '48 ww.. Lac G St L 65 ‘34.. Laclede 5%s C '63. Lautaro Nit 68 550. e McCormack McKes&Ro 5% 103 20 1027 102 20 106 11 108 14 11215 FOREIGN. Sales High. Low. Close. [ » Zarvwaddits Selienaa tESerBorn proBalde ~Swavar ~ra R X It b T 103 18 1027 102 20 10611 108 10 11212 10 824 82 74 104 ki 81% 927% 1074% 101% 111% 100% 103 110% 110% 107% 935 100 4 1023 wwanan—ea 95 105% 120 125% 95% 100 101 9% 79 97% 91% 1021, T 61 9014 104% 1041 9 117% 75 o o 66% 66 105% 100 102 104% 104% 10 8714 93% 10414 39 bt m 39 53% 63 o S 3- 19 a - 1065 78 o manEBanl 104 1047 1054 964 T5% 88% 1051 104 1047% 105% 96 6% 881y 105 75 83% 947 MISCELLANEOUS. ADbitibt P & P 5863 28 69 9015 10 10, 61% 105% 1085 101 10215 105% 27 88 50 100% 9214 1047, 6 25 106% 94 100 105 106 8514 % 100% 102 1043 100 94% 941s 85 96 3 60 69 80 4% 9314 437% 100% 1013 100% 5014 1044 120% 1014 961 104% 1003 8 79% e 11212 82 74 104 77 81% 92% 1074 102% 111% 100% 103 TH 76 25 5614 91% 9704 2% 110 110% 107% 94 1004 102% 104 95 105% 120 125% 951 100 101 924 79 9T% 9% 102% kigh 61 901 104% 10414 9% 110 5% 67 66 105% 100% 102% 104% 105 102 88 94% 104% 39 39 5314 % 106% 104% 1054 964 5% 881 105 75 61% 105% 108% 101 10215 105% 27 88 51 1001 9214 1047% 2714 1061 91y 100 105 106% 86 69 100% 102% 104% 100% 94% 9% 87 9614 73 62 €9 804 98% 98 98 118% 1184 1134 964 964 964 102% 102% 1024 1 106% 106 1064 111% 110% 11'% 101% 100% 114 105% 105'% 100's 102% 102% 102% 102 102 102 91 90% 90% 98 98y R 86 86 63 63 57 55 85 102 102 102 85% 854 8514 53 51% 51% 81% 9% 8l% Nat Datry 5% w'48.. 71 .:‘ Nor St Pow 63 B *41 Pac G & El 6 Pan-Am Pet 65 '34.. Paramount 6s *47.. Phila Co 68 °67. ... Phila & Read 6: Phil Pet6%s Por RTam 6s°42, Pos Te) & C 63 5. Pub Sv G 43486’ Rem R'd 5%8 A 47 Richfi'd O cal 63 "44 Shell Un Of1 6s°47. Sincl O 6%s B '3 Sincl O T8 cvA " Sincl Cr O 5%s '38. Sinelalr P L . Skelly O1l 8%s°39. Solvay Am 68 °42.. 4% 103% 1037 103% 104% 104% 104% 1041% 103% 103% 9% 9T 98 92 92 92 106 104% 105 101 99% 9% 6914 981y 67 6% 40% 0% 69 49 4915 100 100 100 105 104% 105 102% 101% 102% 108% 108% 1084 102 101 102 %9 2728 k3 7 9 Tex Corp cv b8 Utd Drug cv 63 '53. U S Rublst 53°47. Utah P & L 63 *44. Util Pwr 5359 ww. Util Pow 6%s'47. . Vert Sug 1st 78 *42. Walworth 6s A "45. Warn Br Pic 6s°39. Warn Quin 6s°39.. Warner Sug 7s '41. West £) deb 6544, West Un Tel 68 '51. West Un T 6148 '36 WEOG5%s'3T ww. | Wh Sew Mch 6s *40 Wic Spen S ct 75'35 i Wil & Co 1st 6341, z 9815 9814 YouSt&TH5s'78.. 12 102% 101% 102% RAILROAD. Atch’on 4s 190! 18 93 93 93 Atchison adj & 37 93 9% 98 Atchison gen 48'96 32 97% 9T 974 Atch'onev 4348’41 23 113% 112% 112% 4 20 102 101% 102 48 49 EIL L 8 951 95 95 3.. 58 100% 99% 99% «ee123 934 921 9214 10 101% 101% 101% 7 105% 1056 105'% 28 100% 100% 100% 14 107'% 107 107% 5 95 94 95 2 101% 101% 101% 10 81% B81% 8l1% 97y 9% 5l 73 T E LT PRRRRRR 1 &0 Swn dy 6s ‘50 B & O Toledo 4s 50 Bos & Me 63 1955. Bos & Me 65 '67. ... 9714 97% 5 1% 97 9T% 86 86 3 101% 101% 101% 62 98 97% 97 11 97% 9Ts 9Tl 86 101 100% 101 33 104% 103% 104% 62 104 103% 103% 4 116 115% 116 1 110% 110% 110% 4 105% 105% 105% 34 88% 86 86 129 99 98y, 98y Can Pac bs ctfs'44. 15 101% 101% 101% Can Pacific 58 '54.. 30 101% 101% 101% Cent of Ga 55 C 9% 95 Cent Pacific 94% Cent Pacific 02% 96% Ches Corp 5s 30 104 103% 104 1 99% 98 98y 15 99% 98 98 1 73% 73% 3% 1 100% 100% 100% 5 107% 107% 107% 9 50 89 88% 96 31% 64 89% 6814 21 84% 86% 93% 9T% 88 Bklyn Man BR&Pitt 4 Can Nat 4%s ‘54, Can Nat 4% Tan Nat 4% Can Natl 4%s'56. Can Nat 5s July 69 Can Nat 58 Oct " Can Nor 6% s db'4é Can Nor 7s deb '40. Can South 68 "62. Can Pacific db 8 95 944 11 102% 102% 1 8 97 96 Chi Grt West ChIn&Lgnbs’56. 1 Ch M St P&P 68 76. 39 Ch M & St P adj 68 164 Ch & NW gn 4s'87. 10 Ch & NW con 4%s. 47 ChRI&Pgn4s'ss & ChR1&Prf4s’34107 89% 6815 27 847% 87 93% 97% 88 89 89 102 102 10 104% 104% 104% 5 8513 855 85 C& WInd5%s'62 2 102% 102% 102% CCC&St L 4%s (E) 27 995 99 99%, CCC&StLdb4lks 1100 100 100 CU Ter 4%52020.. 32 102 101% 101% Clev Term 4%s*77. 17 101% 10I% 10114 Clev Term 5s '73 4 105% 105% 105% Clev Term 5%s8°72. 16 106% 106 106 Colo & Sou 43835 10 100% 100% 100% Colo Sou 4%s°80.. 25 94 94 94 Con Ry 4%sst'51. 11 98% Cuba R R 6s 63, 11 56% Cuba RR 6s ctf " 63 Cuba RR rf 7%4s'36 72 Cuba Nar 6%s 40 Del & Hud rf 4 98% 13 7 2 95 1 104 14 94 '65. 23 T3% DRG & W st 5578 701 Det Utd 414s°32. .. Du S Sh & At 5s'37 Erie con 4s A '53 Er] (B) % 94y 94 % 104% 104% Y 941 941 73 3% 70 70 97 9Ty 60% 60% 73% 3% 781 3% a n % 1% T6% T6% 1 109% 109% 109% 8 25 221 22% 3 27 26 26 6 1047% 104% 104% 1 110% 110% 110% 5 97 961 96% Gr Nor 5573 1 103% 108% 103% 18 98 98 98 Gr Norgnb%s'62. 8 107 107 107 N1 . 8109% 109 109% 6 94 94 94 Erie 631975. Erie & Jer 63’55 Fla E Coast 5s *T4. Fond J&G 4%s°52. Gr Tr s £db 6s'36. Gr Trunk 7s *40.... Gr Nor 4%s*77 (E) Gulf Mobtle 58 '50. Hav El Ry 6% Hock Val 4% Hud & M adj Hud & M rf 58 '57.. I11 Cent ref ¢s '55 Il Cent 4% °66... 111 CCStL&N 58 A. Int Rap Tr 6s '66.. Int Rap Tr sta '66.. Int Rap Tr7s 32.. Int Rys C A 6s'72. Int Ry CA 6%s'47 Iowa Cent rf 4s°51. Kan City Sou 3s'50 Kan City Sou 68 ‘60 City Ter 45’60 Lake Shore 43 ‘31, Leh Val cv 4s 2008. Leh Vev 4355 2003 Leh Val 55 2000. .. Long Isl rf 4s 49.. L & Nuni 4s°40... L & N 6s B 2003. Manh Ry 18t 4s 90, Man Ry 2d 4s 2013. Market St 78 °40. . . M &SL 1st rf 4839 Mil E Ry & L 6861 M StP&SSM con 48 M StP&SSM bs MStP&SSM 5%s'78 284 99 3% 9615 89 95% 98 67% 6714 8814 7014 73 3 8 987 92 1 100% 100'% 100% 86 87 1103 103 4 544 bB4% b4y 147 &1 W@ 8 82% 891 89% 7 & 4% 4 101% 101% 101% 1 8 8 85 10 92 9% 92 4 94 93 93 1 854 854 85% 25 95% 95 95 A. 5101 100% 100% 42 89% 89 89 0% 68% 69% ¢ Mo Pacific 65 A '65. 16 Mo Pacific 68 ¥ *77. 21 Mo Pacific6s G"78. 5 Mo Pacific 6s H '80 18 Mo Pac 6}scv 49, 26 Mob Oh Gsrets w.i. 5 Mont Tr 1st 6s°41.. 9% 9815 98 981 9 99 99 75 93Y% 44 100% 101% 101 534 104% 120% 101 NOT&MEsA 98 98 98 92 894 92 98% 98% 98% 83% 83 83 99% 99% 995 2 94% 93% 93% 5 100% 100% 100% 13 106 105% 105% " 07 lg;lJ 107 Ha L1 2222272 O R gg0 L] . i g a3 - Q g g Qg b4 1 52 zzz72 2! % Grain Values Show Depend- ence on General Business Conditions. BY FRANK I. WELLER, Associated Press Farm Editor. Grain values are showing lively de- pendence upon general business condi- tions. A drop of more than a point in one week in the price level of all com- modities saw July wheat tumble to 6714 cents at Chicago, a new low for the season, while new lows were made in May and July corn. The wholesale commodity price line % | has been bearing down, almost per- pendicularly, since the Summer of 1929. While it is not unusual for commodity values to lose & point in one week, it is regarded as unusual for them to hl:‘-k"d that much at such a crucial pel . It was said in the grain trade at Chicago that should the stock market continue to brace up for a week or more grain would readily follow. Ob- servers recall, however, that any per- manent upturn in the business cycle ::ul:llyt lxu)::’eiceded‘lby émprovemenz or ast steadiness in the general com- modity price line. e Price Stabilized. Due to Government ration: - cember and May wheat m a mtull:d value and is of very little interest to traders. About the only feature in the wheat market is that the short interest in July appears again to be increasing and any change in the general situ- ation might bring a covering movement and strengthen prices. The world wheat market continues weak. Buyers seem to be to see what will happen to the new Aus- tralian and Argentine crops. There is a smaller foreign demand for Canadian wheats. At one time last week De- cember wheat hit 513, cents a bushel ch;‘n'e' tory of the ex- ovement of new wheat from Argentine appears to have begun, :rl;‘& it is expected that port stocks and ex- ports will increase from now on. The crop is officially estimated at about 271,400,000 bushels, or roughly 100,000, 000 bushels more than in 1929, Ship- pers are pressing sales of new wheat at f:nri"rlaub.t bushel, c. 1. f., European ets, but are re a dull demand. s An official estimate places the Aus- tralian crop at 215,000,000 bushels, which would be the largest ever ob- tained in that capacity. New Australian :el:el! is ;:; ll.‘u.YAy to Europe, and is ing quoted at 81 cents, c. . 1., % qu ts, ¢. 1. 1., English World wheat shipments were esti- mated at only 10,216,000 bushels last week, which, if true, promises another substantial reduction in the stocks of wheat and flour afloat. Feeding to Livestock. In addition, hope for lighter pressure is seen in estimates of world produc- tion of coarse grains. Oats show a decrease of 2.2 per cent under 1929, barley almost 5 per cent, corn 18.7 per cent and rye production is placed at 905,745,000 bushels, compared th 933,032,000 in 1929. Now that corn is cheaper than wheat in domestic markets, some believe the rate at which wheat has been fed to livestock will be reduced. One promi- nent grain firm at Chicago rec: that almost six months of the wheat c has passed and the visible supply, s larger than last year’s, does not show there has been any im| t feeding of wheat. It believes there will be as much wheat in this country on March 1 as there was last year. Some believe corn will continue fits erratic movements, impelled by what appears to be a volume of professional trade very much larger than this usually experiences and resulting many traders having lost interest in wheat. They do not look for any par- ticular accumulation of stocks this Winter. l;.eeelpt-: of %orn h.vfil wn moderate and country offerings - Unsettled weather encouraged short< covering and commission house absorp~ tion, which checked last week’s down- turn in prices. CUMBERLAND BOND ISSUE. BALTIMORE, December 32 m cial).—Cumberland, Md., has bids today on $100,000 water bonds, 41, per cent interest. Both unty and Anne Arundel W to do some financing some e early in the i A Grayson County, Ky., farmer made a net profit of $81 on a litter of pigs in Nor & Wn cv 4596 Nor Pacific 38 2047 11 Nor Pacific 48'97.. 9 9315 93% Nor Pac 58 D2047. 1 101 101 Nor Pacr16s2047. 45 110% 109% 109% Ore Short L 5i 2 105% 105% 105% Oreg-Wash ¢s’61.. 7 92 92 92 Penn cv 4%s 6 105 103% 103 Penn gen 4% 31 101 100% 100% Penn 4%5'70...... 91 96% 96 6 3 17 99% 99 99 12 103 102 102% 2 107% 107 107% 15 1084 108 1 107% 107% 107% 4 100 99 ” Por R L&P T%s 46 Read gen 4%3 A'97 Reading 4%8B... 10 99 99% 99% Read Jer Cen4s’S1 3 95 95 95 RIAr&L4%s'34 10 99 98% 98% St L Ir M'ot 68°31.. 9 100% 100% 100% SrL IM R&G 3 14 99 98 28!, StL&SFinds A 8 85% 841 85% 134 79% TT% TT% 58B 19 99% 97% 98 14 99% 99% 99% 6 85 84% 85 Sou Rwy gen 48'56 Sou Rwy 6%s Term As St L 4363 Tex & Ark 6% °50. Tex & P 1st bs QP'(;O 8 25 105% 105% 105% 21 115% 114 14 14 90% 90% 90% 9 101 100% 100% 2 105'% 105 106% 10 97 974 9TH 10 98 97% 9T 3 46% 45 45 1 9% 4 9 2 69% 69% 694 97 Third Av 1st & Ulst & De 5s ctf "28 Un Pac 1st 43°47... Un Pac rf ¢s 2008 Union Paoc 4 Un Pac ¢%s Wabash 1st 65 '39. bash 9 12 100 3102 102 Md 6% Wst Sh 1st 4s 2361 89% ‘Wis Cen gn 48 36.. b51%° ) ’ «