Evening Star Newspaper, December 24, 1930, Page 9

FINANCIAL. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. 0. RETAL TRATE TOPS OTHER TS Fifth District Bank Makes Comparisons—Gains Noted in Recent Collections. BY EDWARD C. STONE. Further details regarding business in this district, made public by the Fed- eral Reserve Bank of Richmond, stat that retail trade in the fifth reserve district in November, as reflected in sales by 34 department stores, was con- siderably below seasonal volume in comparison with earlicr months this year. and averaged 11.6 per cent less than in November, 1929, in dollar amount. Only 6 of the 3¢ repcrting stores showed larger sales in Novemb this year than in November 1 and 3 of these 6 increases were prol ably due to store expansion and | larger stocks. Washington stcres as a whole reported smaller decre sales last month than the stores i other secticns. Cumulative sales in the | first 11 months of 1920 totaled 3.0 per cent less than sales in the correspond- | ing period in 1929. { Stocks of goods on the shelves of the reporting stores showed a seasonal in- crease during November, but at the end of the month were 9.7 per cent le than stocks on hand on November 30, | 1929, part of this decrease being due tc lower prices i y lines this year. The reporti 0.3 times in November, @ January 1 and November 30 the av turnover was 3.041 times, a hi ure than 2.969 times st s turned 1n the corresponding 11 months in 1926 Cellections during November in 33 of | the 34 reporting stores averaged 283 | per cent of receivables outstanding on November 1, a slightly higher figure than 28.2 per cent reported for Octo- ber, 1930, but less than 20.3 per cent in November last year. Collections in Washington last month were slightly better than in November, 1929, but Baltimore and the other cities showed Jower percentages for the current month, the Bank of Richmond reports. District National Has Tree. The District Natonal Bank had a Christmas surprise party after the bank closed yesterday which proved a gr success. President Joshua Evans, introduced Santa Claus, impers: by Col. Robert N. Harper, who, assisted by Miss Florence Kelly, distributed from the Christmas tree appropriate presents to all the officers and empl-yes. The gifts ranged from a D!*m(\crn‘\ir donkey for Col. Harper to a toy pistol, for the night watchman. Each g}l}l; was accompanied by a crack.” | which was read aloud when the gift| resented. . i Wi Evans was presented with a hand- | some brief case by the employes and | Note—All stocks are sold in one hundred-share lots excepting those designated by the letter s (80s) (250s) which shows those stocks to be sold in odd lots only. Individual sales compiled to noon—complete in 5:30 Edition. —Prev Hieh 424 87TH% 34% 156% 2% 94 5% 424 5914 101% 101 | 4 { 100 1007 a8 2744 130 129 114% 12476 each officer made a few remarks in; 1;'"": keeping with the occasion. and cake were served. Convention Committee Named. Tee cream | 540, 165 | 108%, 100 Frederick P. H. Siddons. chairman of | ;- the General Convention Commitice of | the District of Columbia Bankers' Asso- ciation, tcday announced the appoint- ment of Mrs. Lanier P. McLachlen as chairman and Mrs. Edward J. McQuade as vice cheirman of the Ladies’ Com- | mittee and the following to serve as 122% 1930~ Stock and Low Dividend Rate. 815 Abitib] Pow & Paper 14% Adams Exp (1.60) . 2814 Addressorr'ph (1%) 8715 Alr Reduction (14%4) % Afax Rubber... ... 41, Alaska Juneau(40c). 5% Allegheny Corp..... 170% Allied Ch & Dye(n6). 31% Allis Chalmers (3).. 1116 Alpha Port Cmt (2). % Amal Leather. .. 18 Amal Leather pf, 16'; Amerada Corp (2). 1% Am Aerien] Chem 115 Am Agri Chem ctfs. 45'c Am Bank Note (+3).. 81'¢ Am Br Shoe (240) ., 6% Am Brown Rov Elec 104% Am Can (15) 25% Am Car & Fdy (8) 27 AmChain (3). .. 15% Am Colortype (2.40). 9 AmCom Alcohol. .. 1715 Am Enronean Secur. 25 Am & For Power. ... 75% Am & For Pw of (8). £815 Am & For Pw pf (7). 635 Am & For Pow 24 of, 5% Am Hawafian (a10). 1% Am Hide & Leather, 465 Am FHome Pr (4.20) .. 25 Amlce (t4). 1 Am Intarnat { Am LaFr & Foam pt. 3 19% Am Locomotive (2). 6814 Am Locomot pf (7).. « Am Ma & Fy (11.85), 3 AmMach & Metals 131 Am Metals&Min (1) 279 Am Nat Gas nf (7) 3614 Am Power & Lt (r1), M Am Pow & Lt nf (6) 16'% Am RadeSta Sanc1) 126'% Am Rad & S S pf (7) 5% Am Renublles. ..... ) Am Roll Mill (n2)... 4 Am Safetv Razor (5) Am Seating. .. 13 Am Shin & Com. Am Solv & Chem p Am Steel Fdv (3). % Am Stores (1214) 40 Am Sugar Ref (5).. 5 Am Suma‘ra Tob. 170% Am Tel & Tel (9). 981 Am Tobacco (5) 99% Am Tobacco B (5) 120 Am Tohaceo of (6).. 103% Am Type Fdy pf (7). 5% Am Water WKs (3). 512 Am Woolen. 15% Am Woolen pf. Am Zine Lead & Sm. 2 4% Anaconda Cop (2% ) 27725828% 1'% 20 Anaconda W & C (1) 255 Anchor Can (2 40) 10% Andes Copper (1) Archer-Dan-M (2).. Armour of Del pf (7) Armonrof T (A)... 1% Armour of 111 (B) oK1 Armour of T1l of (7) 215 Arnold Constable 20% Art Metal Const (2). 20 Asso App! Ind (4)... 19 AssoDrv G (2%)... 85 AssoDG2dpf (T)... Atch To & S Fe (10). Atch To & S F of 15). AtIGuIf & WI(3).. At Refininz (+2) Atl Coast Line (+10) 34 16% 97 215 Atlas Tack.. . 60% Auburn Auto (4 1% Autosales.... ... 2% Aviation Corp of Del 19% Raldwin Loco (1%). 85 Baldwin Loco pf (7). 55% Ralte® Ohlo (T) Bates— Add 00. High Low Close 100= 3 Prev Close 1 8% 23 8% 84 16% 15% 16% 28 28 . 28 99% 96% 99% % 7 3 ki ™% ™% 1841% 184% 182% 34 34 334 15% 8% 6% & 1131 1107% 11215 109% 264 264 26 25% 3015 301 32 17% 17% o 9% 19% 18% 271 76 881 6614 6 1n 47% 25 171 974 2014 6814 32 3 17% 27% 30974 95 1614 140% 6% 30 B6% 40% 93 16% 141 70 304 24 141 2 30 141 207 581 8% T5% S 179'% 177% 105 104 107% 105 124% 124% 105 1051 56 % 18% 10 2 D319 103 1t e 50 1t 1t 00 5 = o S5~3. 6 10= 45 members of this committee: Mrs. Claude | 175:7 1041, Ramberger nf (6% ). 40s H. Woodward, Mrs. Frederick H. Cox. Mrs. Hilleary G. Hoskinson, Mrs. C. F. Jacobson, Mrs. Luther E. Schreiner, Mrs. Albert 5. Gatley, Mrs. C. H. Pope, lrs.‘ George O. Vass, Mrs. Frederick P. H Siddons, Mrs. J. Frank White nndfll}&rs.l ‘Wilmer J. Waller. ‘ Institute Vacation Starts. » Nearly 400 students cf Washington Chapter, American Institute of Bank-| ing, are now taking their Christmas| vacation, with classes suspended until January 5. Final examinations for the first semester will be taken about Janu- | ary 16. So far there has been a sur-| prisingly small class mortality and it xs! thought that the beginning of the second semester will find an- exception- ally large percentage of first semester students _continuing the courses. The class in public_discussion and | debate, which includes about 20 students and has been conducted by Dr. George Farnham until his recent illness, has held two debates during the semester | and will hold others during the second semester, the course continuing until| the close of the school year. Watts Discusses 1931 Outlook. 1 The credit position is still sound! and money is cheaper than it 'has been in a long time, said Lister T.! Watts of this city, director of the| National Association of Credit Men, | today, in viewing credit conditions iny 1931. Money is cheap despite the artifi- | cial stringency created ome ters by an un in making loans. rates, together with redu materials, have created a cc usually favorable for buil tion of which should be a prime factor in recovery. Perhaps the m low money | d prices of | hopeful consider- ations for business in 1931, according to Mr. Watts, are that invent : the hands of dealers are almost uni ormly low and that accumulated con- ‘Amer needs are rapidly approaching toe point where forced buying placement must ensuc. Probably the one thirg that would. do most to re- stors confidence and promot: a return to normal activity, he added, would be definite evidence of a stabilization of commodity prices Trading on D. C. In pre-Christmas ‘Washington Stock shares of Capital ex-dividend at 437, Two hundred s Mortgage & Invest Te- hange. ding at 5, Only one other was Tec shares of Potomac Electric Power per cent pr selling at 107%%. Following the tr: eseion President Walson announced that the ex would be closed tomorrow, C day Directors of the Bank met today and ular 3 per cent semi-ax and an extra dividend of 1 President Victer B. De Both are payable J B mas bonus to employes. Gleaned in Financial District. Hoover of the Co. is passing relatives in West } National Savings & T Christmas with Virgima | Vice President Thomas P. Hickman | of the Franklin National Bank is in| Florida, where he is spending a vaca- | tion_of several w ‘Thomas J Groom, cashier Bank of Commerce & Savis . to Chatleston, W. Va mas | Directors of the Lincoln National ‘Bank have voted a bonus for all employe: b Norfolk & Western first 11 months nei $2008 a common share, against $26.53 a share in like 1929 period. Passenger car registrations in first 30 States reporting for November total 42,662 cars, decrease 37.8 per cent from October and 37.1 per cent from Novem- ber, 1929. POTATO MARKET. CHICAGO, December 24 () (United liure) . — o of the| Las gon to pass Christ ; sacked pe: 1.40a1.60; Idaho russets No. 1, ; No. 2, 1.25a1.85. 43 17 351 22% 16% 14% 74 43 110% 35 F1% 3 815 6974 279 28% 13 947 Tl 3% TT% 81 301 4 111% 151% 83 22 3% u7 7 9 65% 24 107% 52 Bane & Aroos (3%). 8 Barker Bros (2) £5% Rarnsdall A (2 23 Bavuk Cigar (3) €2 Reatrice Cream (4). 46% Resch-Nut Pk (3).. §7 Belding.Heminzway 144 Bendfx Aviation (1). 30% Best & Co (2) G 49'4 RethleFem Steel (6). 23 Blaw-Knox (1%)... 15% Bohn Alum&Br(1%) 60 Borden.Co (k3)..... 15 Borg, Warner (1)... % Botany Con M (A)... 12% Briges Mfe Co. 15% Briggs & Strat (2).. Brockway Mot Trk. 3 Brockway Mot pf... 1 5514 RKlvn-Man Tr (4). 53 Bklyn &Qu Tr f(5). 98% Bklyn Union Gas (5) 2508 10 Bruns-Balk-Col.....1 11% Bucyrus (1).... . 21 Buecyruscv pf (2%4). Buevrus pf (7). 3% Budd (EG) Mfg 6% Budd Wheel (1) 9% Bullard Co.. . 81; Bulova Watch (3)... 25'; Burns Bros (A) (8 S Burns Bros (B).. ... 18% Rurr Add Mach (1).. 21% Bush Termwmal (214) 1% Butte Copper & Z 1 Putte Superior. 33% Byers (AM)... . 431 Calif Packing (4). % Callahan Zinc & Ld. 28% Calumet & Arizon: 77 Calumet & Hecla. ... Campbel) Wyant (2) 4 Canada Dry G A (3). 35% Can Pac new (2%).. 17 Cannon Mills (1.60)., Capital Admin (A).. 3%, Case (J 1) (6) 114% Case (J 1) pf (7). 22 Caterpillar Trac(+4) 18 Cent Acufire As1%. 189% Cent RR of NJ (112) 51 Cent Rib Mills pf (7) 21 Cerrode Pasco (4).. 2 Certain-teed Prod. . 1 1 38 3 174 1 10 3 30 1 187 808 10 54 100% 104 1 544 544 103 103 10 103 4058 10'% 10% 8 14 13% 14% 13 6 24% 23% 24y 23 10s 110% 110% 110% 111 W 4% 4% 4% 8% 8% B% 9 1216 11% 124 208 18 9 €% Certain-teed Prod pf 339s 14% Checker Cab (1.80).. 329 Ches & Ohlo (2%)... 32%4 Chesapeake Corp (3) % Chic & Alton ...... 12 Chicago Great Wn p! 4% Chic Mil St P & Pac. 7% Chic M1l St P& P pf. 80% Chi & Northwn (4).. 7% Chic Prneu Tool. .... 223 Chi Pneu T pf (33%). 45% Chic R1& Pac (7). Chickasha Cotton Of} hrysler Corp ( u City Ice & F (k3.6 2 City Stores (50¢ 2 Cluett Peabody (3) 133% Coca-Cola (6) ola A (3) Pal-P (23). Collins & Alkman Gas & EL vf A (6) Cotum Graph (a%) “olumiblan Carb ¢ Somm Credit +2) ... omm Credit A (3) Comm Credit ot B(2) Z1% Com In Tr (g1 60) 14 Comm Solvents (1) Ty Comwlith & So (60¢). mwlth & So of 16) ongoleum-Nairn. .. 24% Consol Cizars «b) . 561y Consol Cig pr pf 6% . 10% Consol Film «2). 5% Contatner A (1.20) 17% Contl Baking A ... 65 Contl Baking pf (8), 431 onti Can (2%4)..... 9% Contl Dia Fibre (1).. 37% Contl Insur (2.40)... 2% Contl Motor: 7% Contl Oll of Del 10 Contl Shares (1 656 Corn Pr Ref (1414 140 Corn Prod pf (T) 8 CotyIne ...... 3% Crosley Radlo. 0% Crueible Steel (k5). . 101's Crucible Steel of (7) 1 Cuba Cane Prod..... 21 Cuban-Amer Sugar. . 25 Cuban-Amer Sug pf. % Cuban Dom Sugar... 88 Cudahy Packing «4), 90 Curtis Publish (11). 1% Curtiss Wright Corp Wr Corp A.. 3 Curtiss . 35 Cutler-Ham (3%),.. 23 3 1 357 3% 3 26% 25 25k 26 14410 142% 14215 142 o 50% 50% 50% 45 46 12% 124 102 834 76 102 8 10'¢ 14% 830 102 82 2 2 1027 102 1025 Y 1 70 148'% 148! 147 8 ! Eay K 3% 58% B8% w 1034 108 1% 1% 1% 2% 2% 26 26 % 40 20 2% 8% 8% 53 6 53 1008 103'% 3 1w 7 2% 16508 26 1 L) 1 40 1 80 14688 2% 8 4w 10 Davison a-za_... » ~Prev.1930~ High, 158 80 30% 48% 51% Low. 6915 25% 161 29 6% 12 b67% 13 8014 100 1421% 120% 11% 33 214 343 4Ty 2214 Stock and Dividend Rate. Del Lack & Wn (7). Denver & RG W pf.. Detroft Edison (8) .. Devoe & R 1st pf(7). 50 Dome Mines (1).... Dom Stores (11.20). 450 Drug Corporat (4).. Duplan Silk (1)..... 16 Du Pont de N (14.70) 53 Duques Lt 1st of (5). 4 Eastman Kodak (18) 10 Eastman Kod pf (6). 40s Eaton Axle (1.60) Blec Auto Lite ¢ Electric Boat. El Pow & Lt (1) El Storage Bat (5).. Sales— Add 00. 3 9 2 s 8% 162% 3 s Erie RR 1st pf (4)... Eureka Vac Cleaner. Fash.on Park Asso.. Fed Wat Svec A 2.40. ederated Dept Strs. Filene’s pt (6%). Firest T & R pf (6). First Nat Strs (2%). Fisk Rubber........ Fisk Rubber 1st pf.. Fisk Rub 1st pfcv. . Foster Wheeler (2).. Fourth Nat] Inves Fox Film (A) (4). 4 Freeport Tex (16).. . 4 Gabriel Co (). 4 Intl Carriers (25¢) 4 Kayser Julius (2%). Camewell Co (5). Gardner Motor. Gen Am Investol Gen Am Inv pf (6).. ien'Am T’k Car (14) Gen Asphalt (3).. Gen Baking pf (8) Gen Bronze. Gen Cable. .. Gen Cable A. Gen Cable pf (7) Gen Cigar (4). Gen Electric (1.60).. Gen Elec spec (60c) . Gen Food Corp (3). .. Gen Gas&El A(e30c) Gen G & El cv pf (6). GenG & E1pf A (). Gen Ital Ed (a2.62). Gen Outdgor Adv. Gen Pub Sve b6 %st Gen Ry Signal (5) Gen Realty & Util... Gen R & Ut pf (e6).. Gen Refract (14%). Gen Theatre Equip. Gillette Saf Raz (4).3250s Gillette Saf Rpf (5). 3 (iimbel Bros.. .... T Gimbel Bros pf (7).. 3 Glidden Compan; 5 Gubel (Adolf). 1 Gold Dust (2%) 23 Goodrich (B F). 7 Goodrich BF pf (7). 2 oodyear Tire (5)... 20 Goodyear 1stnf (7). 1 Gotham S H pf (7)., 50s Gotham pf xw (7)...200s Gould Cou 1 o Granby Consol (2).. Grand Silv Strs(h1). Grand Unfon of (3).. Granite City St (3).. Grant (W T) (1).... Gr North of (5)..... Great Nor Ore(12%) Great Western Sugar Gr West Sug pf (7) 2503 Greene Cananea Cop.1508 Grigsby Grunow .. 6 Guantanamo Sugar.. 22 Guantanamo Sug pf. 208s Gulf Mob& Npf (6). 3 Guif States Steel. 7 Hacken pf A (1%).. Hahn Dept Stores. . . Hahn Dept 8 pf (634) Hall (WF) Pr Co (2) Hartman Corp (B).. Haves Body. Helme (GW Hercules Mot (1. Hershey Choo (5)... Hersh Choe pf (16).. Hoe (R) & Co. Holland Furn ( Hollander Soi . Houdatlle Hershey. . Houston Ofl (b10%). Houston Oil (new Howe Sound (t4%4). Hudson Motors (3).. Hupp MOtors. ...... [llinots Central (7).. Indian Motor Cycl Ind MotorCycle pf {ndian Refinin, Indian Refining rcts. Indus Rayon (4).... Ingersoll Rand (16). Inland Steel (4)..... Inspiration Copper. . Insurance Sh (45¢).. Ins ctfs (Md) (60c).. Interboro Rap Tran. Interlake Iron (1)... Intl Bus Mach (né) 1 - S & o D ONERLanWnNEH=RNRL® @ BeeBansnaReaon Int] Cement (4). Intl Combustion Int Comb Eng pf.... Intl Harvester (2% ). Intl Hydro E1 A (e2) Intl Match pf (4).... Intl Mer Marine (2). Intl Nick of Can (1). Int] Paper & Pwr A. Intl Pap & Pow (B). Intl Pap & Pow (C).. Intl Pap & P of (7)., Intl Printing Ink.... Intl Salt (3).. . Int Shoe (3).. Intl Tel & Tel (2). fnter Dept Strs (2).. Investors Equity (2) 57 Johns-Manville (3).. 15 55% Johns-Manv pf (7).. 30s 119 Jordan Motor Car. % Karstadt (R) (1.03). 8 L] e 110138 207 2014 b 16% 5% 53% 118 % 8 1 10 108 5% Keily-Spring Tire Kelly-Spring 6% Kelsey Hayes (2). 2 Kelvinator Cofp .. 10 Kend Co pf (16.37).. 60s Kennecott Copper(2)16750s Kimberly-Clark (13) Kolster Rado. .. .... Kolster Radlo ctfs. . Kresza (SS) Co 1.60. 14 Kresge Dept Stores.. 1 Kresge Dept St pf... 208 Kreug & Toll (1.60) . Krog Gr & Bak (n1). Lambert Co (8)..... Lee Rubber & Tire. . Lehigh Valley Coal Lehman Corp (2). Lehn & Fink (3) Libbey O Ford G L1g & Myers B (15). 10 8034 lelt’(2.40) Liquid Carbonie Loew’s Inc (14) Loft Ine . Loose- Wiles (12.90). Louts & Nash (7)... Ludlum Stee) Mac And & I (12.85) McCrory (A) (2). Mci'rory pf (6). McKeespt Tin P! Mick Trucks (4)... Macy & Co (nt3) Mad Sq Garden(60c) . Magma Cof per (3), Mallison & Co Mandel Brothers.. Man Elev mod g (d8) Maracabo Ofl Exp, . Marine Mid (1.20) Market St Ry pr pf. Marlin-Rock (15%). Marmon Motor Car. . Marshall Fleld 23%) Mathieson Alkall ¢2) May Dept Strs (n2).. Mexican Seaboard Miam} Coppy Mid-Cont P Midland Steg| Minn Moline Pow. ... Mo Kan & Tex pf (7) (Continued on Page 49 914 28 163 Prev. . Low. Close. Close. 4 ! % | cent, 68% | 24 2014 “| cent, though funds were gvailable in 18 .| Poultry, 25a3 ISTOCKS ARE FIRN INSTEADY UPTURN Utilities and Industrials Fur- nish Leadérship—Other Groups Improve. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, December 24.—Whether it was due to the holiday spirit or the cut in the bank rate or a retreat of the bears, today's Stock Market session was one of slow but steady advances. The utilities and the industrials were . but there was no weakness Trading was on a small made the rise all the more impressive. Rate Reduction Surprises. The Sireet was surpriscd by the re- duct he New York Feceral Re- serve isc v much of an influence that wa are prices teday it was hard | to say. That there was a more cheer- ful feeling at the opening could not b denied, even though the reason there- fore was not plain. At any rate, there was no more concern about the bank- ing situation, which now seems well cleared up. . The business news was not so com- forting. Railway car loadings declined more than t asonal rate and were down sharply > week, as well from the 0. The statis tion showed a October, the_incre: oline in storage. News of the maintenance of the regu- ar dividend rate on Anaconda was : rtly before noon, removing Copper stocks were higher, but they had been well sup- ported all during the unsettlement earlier in the week, apparently in antiei~ pation of this action. A statement by the Anaconda directors put present operating costs at 7.18 cents a pound before charges and after charges at 8.63 cents a pound. The present mar- ket for the metal is 10.25 cents a pound. one unces Gains Numerous. Railroad stocks were slow to respond to the reports of progress at the confer- of exccutives on the consoli situation, but the Seahc was ignored. Baitimore Pacific and Atchison were on the side of ist in early trading A long list of industrials made size- able gai 2 |the_leader, followed by Am |up 3 to 4 points; Westingho |and General Electric / The {the day, however, was the strength in |the specialities, such stocks as General Refractories, Union Carbide, Canada |Dry and U. S. Industrial Alcohol. Food | stocks were in brisk demand, including | Borden, Corn Products ond Natfonal |Biscuit. In the merchandising list i ad a sherp rise, Shorts in J, L. nd in Auburn coversd at prices from 4 to 6 points higher than the pre- | ceding close. | \There was also hurried taking in of commitments for the decline in the 1 Before noon American Water was up from 4 to 5 points, and d Gas up over 2 points, with a r gain ‘in Consolidated Gas and higher prices for American Telephone, North American and Public Service of New Jersey. Early Trading Slow. The market made glow progress dur- ing early trading on a small turnover. the leaders ican Can, e Electric on their uted to the reluctance of the ie in the face of a York Federal Re- rate accounted for the was unchanged at 2 per outside market at 11 irst half hour there per cent. In were 267,900 U. S. Steel opened a shade lower but | crept up to show a slight gain at 139%. | Vapadium was active and 1% points highcr. Kenn the coppers upward. Union Pacific fea- tured the rail group with a 5-point gain. Baltimore & Ohio and New York Central were also strong. Baltipore Markets Dispatch to The Star. BALTIMORE, Md, December 24. | Potatces, white, 100 pounds, 1.25al.75 sweet potatoes, barrel, 2.5013.25; yams, barrel, - 2.00a2.75; beans, bushel, 2.00a 3.50; beets, crate, 3.00a3.50; cabbage, ton, 18.00a20.00; carrots, 100, 2.00a4.00; caulifiower, crate, 1.50a2.00; celery, crate, 1.50a2.75: cggplant, crate, 1.50a 2.50; kale, bushel, 40a60; lettuce, ham- per, 1.7522.75; peppers, crate, 1.50a2.75; parsnips, bushel, 75a1.00; spinach, bushel, 60a9t tomatoes, crate, 1.00a 3.50; turnips, bushel, 75a1.00; apples, bushel, 60a2.00; cranberries, box, 2.75a | 3.75; grapefruit, bax, 1.5023.00; oranges, | bpx, 2.50a3.50; tangerines, box, 1.00a 175, Dairy Market. alive—Turkeys, chickens, Springers, B s, 15a18, bareback, 13; old 20a Leghorns, 13al15; roosters, ducks, 14a23; guinea fcwls, each, pigeons, pair, 20 Receipts, 626 32a33; hennery firsts, | Southern firsts, 30; current re- | 32233, Il Butter—Good to fancy creamery, pound, 30a33; ladles, 27a30; rolls, 28a 30; process, 28a29; store packed, 14al5. Hay and Grain. Wheat—No. 2 red Winter, export, 781:; Winter, garlicky, spot, 78%z; 35a40; old, 20a2 nearby ceipts, domestic, yellow, old, | W, 4.35. Rye—N : Oats—W] new, 44; No. 3,.43. ! Hay—Re General hay Drought has | seriously curtalled nearby crops, chang- | ing the entire situation. Sections here- | tofore shipping are now asking for offers of hay. Good clover mixed and timothy | new hay will bring from 24.00 to 28.00 | per ton. | Wheat straw, No. 1, per ton, 9.00a 10.00; cat straw, No. 1, per ton, 9.00a | 10.00, Live Stock Market. Cattle—Receipts, 50 head; light sup- market steady; steers, choice- to ime, none; good to choice, 8.5029.50; medium to good, 7.50a8.50; fair to me- dium, 6.5027.50; plain to fair, 5.50a6.50; comnion to plain, 4.50a5.25. Bulls, choice to prime, none; good to choice, 5.50a 6.00; medium 0; Tair to | medium, 4. ; piain to fair, 4.25a 4.75; common to plain, 3.75a4.25. Cows, choice to prime, none; good to choice, 5.5026.00; medium to’ good, 4.505.50; fair, to medium, 4.00a4.50; plain to fair, 3.0004.00; common to plain, 2.25a2.50, Heifers, choice to prime, none; good to_choice, 6.75a7.75: medium- to good, 6.2506.75; fair to medium, 5.5026.00; plain to fair, 500a5.50; common to plain, 450a500. Fresh cows and Springers, 20.00a80.00. { “Sheep and lambs—Receipts, 100 head; light supply, market steady; sheep, 1.5024.00; lambs, 4.5029.25. Hogs—Receipts, 400 head; light sup- my‘, market steady; lights, 8.90a9.15; vies, 8.2528.75; medium, 8.90a9:15; roughs, 6.75a7.70; light pigs, 8.75a9.00; Pigs, 8:0020.15. alves—Receipts, 25 head; _ply, market steady; calves, ht sup- 2. mt rate to 2 per | ©Ohio, Union | vance in” the railway | ature of | traded against 427,300 on Tues- | ¢ and Anaconda led | CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING O\RGAN'IZA’IIONS NEW YORK, December 24.—The following is a summary of important corporation news prepared by the Standard Statistics Co., Inc., New York, for the Associated Press. News Trend. Outstanding in the day’'s financial news is the reduction of the New York Federal Reserve Bank's rediscount rate from 2!, to 2 per cent. This is the fifth reduction by this bank during the past year and brings the rate to the lowest of any central benk in the world, The action is interpreted as a step by the bank to remove any ap- prehensions that may prevail in regard to banking situation. Railroad car in the second week of Decem- gistéred a greater than usual de- cline from the preceding week. Total of 744,443 cars was 42,730 under the week previous and the smallest for the period since 1921. Decline from 1929 week was 10.4 per cent. The Companies. Alabama Pow:r combined preferred share earnings, 12 months to November 30, $18.55, against $21.98. American Tobacco Co. | Lucky Strike sales up 419,322,000; months' gain, 5,566,658,000. American Vitrified Products deficit year ended October 31, $119,877, against net income $250,198, equal to $2.26, in 1029 period. Anglo-Persian Ol declares 16-cent divident on A. D. R. for ordinary stock. Appalachian Gas declares initial dividend $1.75 on series A preferred. Baltimore & Ohio Railroad—Time to November 11 *| sell Western Maryland stock holdings extended six months from January 13, 931. Brazilian Traction, Light & Power November net, before depreciation and amortizing, off 11.6 per cent; 11 months, off 1.5 per cent. £ Briggs Manufacturing, tra and 375 cents qual paid 75 cents July, 19: Brooklyn-Manhattan Transit share earnings five months to November 30, $2.94, against $2.57. Brooklyn & Queens Translt share earnings five months to November 30, 44 cents, against 63 cents. Cleveland Tractor share earnings year ended September 30, $3.05, against 4.41. Elgin National Watch dividend ac- tion to await full 1930 figures. General Gas & Electric share earn- ings 12 months to November 30, 48 cents. Gilch 121, cents ex- ly dividends; Co.—No action on 2 per cent quarterly stock dividend on common.. Inland Utilitles reccivership action filed in Federal Court, Wilmington. Interborough Rapid Transit Novem- ber deficit, after charges and man. 5 per cent rental, $272,022, agaivst def- $123648; 11 months’ _deficit, 526,939, against deficit $730,299. Kellogg' (Spencer) & Sons share |carnings 12 weeks to November 22, 122_cents. Loft, Inc. September quarter share | earnings, 4 cents. Long Island Railroad share earnings, nine months to September 30, $4.66, against $6.94. Massey-Harris working force about 5 per cent of normal. Bl Midland Natural Gas receivership ac- |tion filed in Federal Court, Wilming- ton. % Midwest Refining Co., $14 extra divi- | dend. | “Nevada-California_Elec. share earn- | ings, 12 months to November 30, $1.87 against $2.52. | “®New York Central R. R. lets con- Ltracts for 170,000 tons rail, appor- { tioned between Bethlehem Steel, U. S. Steel and others. ended October 31, $1 against $1.28. Regal Sho: Co. buys 22 Emerson stores, increasing chain to 105 units. St. Louis-San Francisco Railway authorized to cut fare to 2 cents a mile. Scaboard Air Line Railway reorgani- zation plan reported imminent. Two equity receivers appointed for road by Federal Court. : Selected Industries passes dividends on prior preferred and prior stock al- lotment certificates; paid $1.37'2 and $1.031:, respectively, October 1. Southwest Dairy Products $7 pre- ferred ghare earnings, 6 months to Sep- tember 30, $2.30. Standard Oil (Ind.) Midwest Refinery, ubsidiary, pays $14 extra dividend. Tri-Utilities Corp. share earnings, 12 months to September 30, $3.42. Business Notes By the Assoclated Press. NEW YORK, December 24.—Chi mas shopping surged ahead in New York stores at the opening of the week, the volume cf business establishing what is believed to be the peak day of the season. The crowded attendance at most stores indicated that much pur- chasing held off to the last minute was being done. In some quarters the view was expressed that the late buying will materially swell the month’s sales fig- ures and that the total dollar volume of the larger establishments may yet approach within striking distance of that of 1929, Production of woolens in November showed a 14 per cent gain over October, while billings dropped 5.6 per cent and stocks on haad rose 3.6 per cent, accord- ing to preliminary figures issued by the Wool Institute. In men's wear fabrics there was a gain of 32 per cent in bill- ings, while production increased 23.7 per cent. A seasonal decline occurred in women's wear cloths. The ratio of installment sales to cash and open account transactions has been unchang:d throughout the current de- pression, the executive of a leading financing corporation pointed out. The volume of installment sales, he added, has followed the fluctuations of indus< trial actfvity accurately and will con- tinue to do o in the coming year. Manufacturers of grocery products will close the present year with a vol- ume of business averaging 5 per cent below totals for 1929, authorities in the trade predict. They sald intensive sales campaigns have limited the.decline to that figure. GAIN IN LEAF TOBACCO EXPORTS IS REPORTED By the Associated Press. The yvclume of leaf tobacco exports from the United States during the first 10 months of this year increased & per cent over the corresponding period of 1929. The value increase, while not as great as the volume, was, nevertheless, approximately $2.000,000 ahead of last year’s period. Exports from January to October, Yhe Commerce Department reports, amounted to 459,598,000 pounds, valued at $110,006,000, compared with 426, 793,000 pounds, valued at $108,047,000, in 19 Owing to price declines on flue-cured tobacco and dark-fired Ken- tucky-Tennessee, the two major export types, there was an average decline in the export price in 1930 of about 1.5 cents per pound, although several types show substantial price increases over last year. This is particularly true of the dark tobaccos of Virginia, which Efll:fi%{n price from 18.6 cents to 26.7 n Subscribe Today It costs only about 1%’ cents r day and 5 cents Sundays to ve Wi gton’s best newspa- per delivered tp gfm regularly E’i” evening ang Sunday morn- Telephone National 5000 and m‘%flew‘:flw ut |- lect at the end of each month. Potrero Sugar share earnings, year || FINANCIAL, [U. S. POSTAL SAVINGS DEPOSITS INCREASE Heavy Gain in Florida Accounts Swells Total During Past Year. By the Associated Press. ‘The business and financial ill wind which set in more than a year ago blew considerable good to the postal savings system of the United States, which increased its principal $21,627,- 157 to a total of $175271,686 during | the fiscal year ended June 30, last. Postal savings is a logical refuge for the timid, Postmaster Genetal Wal- ter F. Brown says. It has salvaged millions from stovepipes, hollow trees, Mother Earth, etc. It has stemmed the tide of other millions flowing to foreign shores, representing the savings of thrifty but distrustful aliens. The number of native-born depositors far exceeds the number of foreign-born, it is said, but there are thousands of the latter who will intrust their funds to the Government, but will not place tflem with private institutions. Statistics offered by the Post Office Department show Florida increased its balances to the credit of depositors by more than $8,500,000 during the last | fiscal year, accounting for about half the gross gain shown by the entire system. It is remembered that Florida was particularly hard hit by bank fail- ures during the period under discussion. The postal savings system is not in the banking business—its only function is to receive deposits. and, in so doing. it serves as a supplementary thrift agency. There is held to be a flaw in the present system which the Postmaster Genecral is earnestly seeking to eradi- cate. Congressional legislation has fixed a legal limit of $2,500 which any one depositor may have to his credit. Large sums are being refused daily be- cause of this limit, and many thousands of depositors already have reached the limit. It is estimated millions of dollars are in hiding which the sysfem is un- able to reach on account of this limit, and in a great many cases depositors, if foreigners, send back to their native lands the excess savings for deposit in government, institutions. Mr. Brown is recommending to Congress that this legal limit be increased to $5,000, and it is indicated the recommendation will be acted upon favorably. CONSTRUCTION CONTRACTS. NEW YORK, December 24 (#).—Con- struction contracts awarded in the 37 States East of the Rocky Mountains d\lrinfllhc period from December 1 to 19 tofaled $161,020,100, a daily rate of $9.471,800 per business day, agdinst a daily rate of $11,024,900 for November, F. W. Dodge Corporation reports. The daily rate for December last year was $12,654,700. Contracts awarded for the year to Docember 19 totaled $4,436,- 618,700, against $5,672,339,800 for the corresponding period las® year. 5 . Christmas revelry was forbidden -in the time of Oliver Cromwell. 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