Evening Star Newspaper, December 27, 1930, Page 17

. FINANCIAL WHEAT POOL HEAD | | BEGINSNEW POLICY McFarland Withdraws Agents From Europei and Will Sell by Cable. BY JOHN F. SINCLAIR. NEW YORK, December 27.—John I. ~'McFarland, general manager of the Canadian wheat pool, has inaugurated & new policy in dealing with wheat pool He has withdrawn all his rep- Tesentatives from Europe and hereafter he will sell wheat direct by cable. m wheat dictator of the Dominion i8 primarily after the British market. TFor some time there has been a grow- ing opposition in Europe to the pool's rsalesmen being sent over there to sell this crop instead of dealing directly with British firms. Mr. McFarland has sensed a danger in this opposition to the sale of Canadian wheat and re- wversed his policy. PR Gmnge~ b sags, “will asiist in removing from the minds of the mm and milling trade abroad as well as from the minds of Canadians, a prejudice which has unwittingly be- come prevalent—that is, that the pool's policy is designed to combat the world and plough a lone furrow to the detri- ment of the consumer abroad and to the grain and milling trade in general. ‘There is no doubt that this sentiment. prevails overseas.” next few months will surely tell whether this change in.policy is a wise one. i Obstacles of U. S. Board. However, Mr. McFarland is not the one meeting obstacles in _this fleld. The American Federal Farm Board has run up against the same kind of stone wall. Before the war the sale of American ‘wheat in foreign lands was eagerly han- dled in many cities by hundreds of dif- ferent grain dealers. During the war each of the countries unified the work and ted one grain firm to handle the wheat it purchased. After the war this plan was not abandoned. In fact, 1t worked so well during the critical time that most countries have main- :l:nsd the same machinery of buying ce. Canada’s decision to recall all her grain pool's super-salesmen shows which way the wind is blowing. Mr. McFar- land probably figured it was useless to have such a set-up of representatives abroad any more, because one need only call on the telephone or cable a half & dozen firms to find out when Europe . h in the market and at what price. ‘ht what is to prevent these five or six ‘big European purchasers from call- ing each other on the phone before the market opens and deciding what price will be paid for wheat in Europe today? 7 ‘There is more truth than fiction in this, too, for it has happened before. Now the exporters of wheat, seeing the success of the import plan, are tak- ing the cue. Recently a meeting of Eu- ropean agriculturists consisting of farm- ers and grain dealers of Rumania, Bul- saria, Poland, Hungary and Jugoslavia 'II held at¢Belgrade to discuss a plan iaasen of unified control of their export sur- This is in line with the import ma- . These East European agricul- turists work out a sales contract for 'hu corn and rye by a‘centrally con- board made up of chosen repre- lennuvu from the five different coun- Before the next crop rolls around American and Canadian farmers will be faced with a better organized competi-~ - flon in !umpe than they have ever be- | “Fiscal Independence.” Not long ago, hard-pressed farmers f Saskatchewan, who saw their farms down into the quicksand of met at Wilkie, Canada, and de- Illnfl!d that Western Canada withdraw ion of Canada, on the mfl t.hn. the Western prairie prov- have no economic interests in ‘ecommon with ‘Wwhich is a manufacturing center. That is 8o, responds Nova Scotia! And backs it up wnh the formation of the “Nova Scotia” party, which demands #the fiscal ind dence of Nova Scotia, the control of all taxing powers, cus- foms excise and all forms of revenue Whatsoever, and the expenditure cf the William Rand of' Canning, prime | mover in this latest secession move- ment, ‘says that if Nova Scotia was ac- y clear ot Canada, economically, she | easily and speedily make a very | satisfactory trade arrng:ment with the United States. But tied as she is now | she cannot. In the meantime, Nova | Beotia’s business is in a bad wa “We propose,” Mr. Rand says, “to make an appeal to the greater Nova Bcotia in New England and abroad for | their moral and matcrial support in the | struggle which is inevitable.” 1 asked a well known Canadian bank. er in Toronto recently if there was an: thing to ~this secession talk.” ere is much to it he replied. “Economically, we sre not and never have been one people. Politically, we are a strip of land, 100 miles wide and 3,000 miles long. But, economically, we three distinct and separate peoples. Eastern Canada, bent on manufactur- ing: the prairie provinces, centering ! their life on farming, and the Far West, lumbering, farming, with their | eyes centered on the Far East. We mdy ’ . th the Eastern provinces,+ | NG ST AR. WASHINGTON. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. (Continued From Page ~Prev 1030~ Sales— High. Low. 66% 141 108% Stock and Rmaena Rate Missouri Pac pf (5).. Mohawk Carpet ... Montgomery Ward. . Mother Lode. . 4 Motor Meter G & El.. Motor Wheel (3).... Munsingwear (14).. Murray (B)(2% stk) Nash Motors (4) I\ll Acme (1%). NatDist Products(2) Nat Pow & Lt (1).... Nevada Copper (1) Newport Co (2)... Newport Co (A) (3 Newton Steel N ¥ Central N Y Ch & St L pf N ¥ Invest (120) N YNH& Hart (6).. NYNH&HDf ()., N Y State Ryspf.... 4 Norfolk&West (t12) North Am Aviation. . Nor Am (b10%stk). . Ger Lloyd (3.43). 2% Northern Pacific (5). Ohilo O11 Co (2).. Oliver Farm Equi, Oliver Farm Eq cv pt Oliv Farm Eq pr pf.. Oppenheim Col (3). 4 OtisElevn (2%) Pacific Gas & El (2). Pacific Lighting (3). Pacific Mills. 4 Packard Motor (30c). Pan Am Fetrol (B) Panhandle P& R.... Param’'nt Publix (4). Park & Tilford. & Park Utab . Parmelee Tr: Pathe Exchan, 90 15 58 Peerless Motor Car. . Pennev (JC) (3) .. Penn Dixie Cement. . Penn Dixie Cem pf. . Penna K R (4)... Petrol Corp (1%) Phelps Dodge (2)... Phila Read C& 1.... 2y Phillips-Jones Corp. 1 Phillips-Jones pf (7) 108 Phillips Petrol (n2). 173 FPlerce O11. 1 Pierce Ofl pf. 24258 Pierce Petrolm 2 Cillsbury Flour (2). 4 4 10 mseanamas S» e Pirellf Italy (a3.14). % Pittsburgh Coal. Pittsburgh Coal pf. Pitts Screw (1.40). Pitts Steel pf (7)., Pitts Terminal Coal. Pittsburgh Unit Cory Poor & Co (B) (2)... PRAm Tob A (3%) PR Am Tob (B).... Prairie O1l & Gas (2) Prairie Pipe L (15).. Pressed Steel Car Pressed St C'pf (7) Proct & Gamb (2.40. Prod & Refiners 508 10 12 5 31 Pub Sv N J pf (5) Pub Sv N J pf (6) Pullman Corp (4 Punta AlegreSugar, Punta Alegre S cifs. Pure Ofl. . Pure Oil pf (8 2 Purity Bakerfes (4). Radio Corp #adio Corp (B Radio-Keith-Orph A Ravbestos Man 2 60. Reading ist pf (2)... Real Silk Hosiery(3) lem Itand «160)..., Rem-Rand 1st pf (1) Heo Motor Car (80c) . Republic Steel. .. Republic Steel pf. [tevere Copper & Br. Reynolds Metals (2. Reynolds Spring.... Reynoids Tob B (3). itichfleld Ofl. ... Rio Grande Oil. Ritter Dent Mf (13). Royal Dutch a3.2165. Safeway Siores (5). St Joseph Lead (13). 8 12 1 7 42 6 2 5 2 194 13 4 5 2 20 St L-San Fran pf (6) StL Soulhwenernpt Schulte Retall Strs. . Seaboard Alr Line Seab’d Air Line pf. Seagrave (60c).. Sears Roebuck 12%. Second Nat) Inv. ... Second Natl Inv pf. . Servel Ine. ... e Sharoh Steel Hoop. . Sharp & Do pt (334). Shattuck(FG) (11%) Shell Union Of1 Shubert Theaters Simmons Co Simms Petroleum. .. 28 37 1 Add 00. High. 16% 4% 14% T 4) ~Prev.1930~ Skelly Of Skelly Of Spencer Stand Of Starrett Sterling Ste Submari Tex: ‘Texas P Tide Wa Tide Wal Tide Wa ‘Tobacco Tobacco Transue Tri-Cont Truscon Un Tank Plve caeacaraacacs nwuNuRNNBREY R Util P & Vadasco Vadasco Wabash . Waldorf Western Westing Wrigley 8% Dividend 1. sUnit of trading 4% 144 6% sh or h Plus 2% m nock 1% in stoc e Phus T4t 44 13% T in stock. Stock and Dividend Rate. SinclairCon O11 (1). Sou P Ric Sug ( 1 Southern Cal Ed (2). Southern Pacific (§). Southern Rwy (8)... Southern Rwy pf (5) Sparks Withing (1).. Spicer Mfx. .. Spicer Mfg pf (3). Splegel-May-Stern. . Stand Brands(1.20).. Stand Brands of (7). Stand Comm Tob . Stand G & E (3%) Stand O11.Call (h2 Und-Ell-| 4 Union Bag & Pa Union Carbide (2.60) Union O1l, Calif (32) Union Pacific (10)... Union Parific pf (4). Westingh’ ock. & 3 Plu stock. Pius' 8% tn stock. o Pits 41,00 1 Prev. . Low. Close. Close. 10 104 104 10% 43 43 1% 11% 43 11 (2). 11 pf (6) 20 F47% T 94 9% 9% 25% 6% Kellog (80¢). 3% 1of Kan (2 Stand Otl of N J « Stand OII N Y (160). (LS)(12%) Sec (A).... Sterl Sec pf (120) Sterl Sec cv pf (3) t-Warner (2). Stone & Webster (¢). Studebaker Corp (3). ne Boat. Sun Of1 (11) Superior Of1 Superior Steel. . Svmington (A). i Tennessee Corp (1) Corp (3).. ulf Sulph (4). C&oOil.. Texas Pac Land Tr.. Thatcher pf (3.60). The Fair (2.40). The Fair pt (7)... Third Natl Inv (a2). Thompson (J R) (3). Thompson Starrett. . ‘Thomp-Star pf (3%) ter As (60¢) ter As pt (6) t Of1 (pf (5). Timken Det Ax (80¢) Timken Roller (3) Products Prod A Transamerica (1) &W (1) Tri-Cont Corp. Corp p! Stl (g1.20).. Fischer (b). Car (1.60). Utd Aircraft.... Utd Afrcraft pf (3). United Carbon (1) Utd Corp of (3). Utd Dyewood . Utd Gas & Im (1.30). Utd Gas & Im pf (5). Utd Plece Dye W (2) U'td Stores U S Expres! U S & For Secur U 8 & For Sec pf (6). Freight. S Hoffman Indus Aleo (17) (A) Leath pr pf & F (2) P&F 1st (1.20). Realty&1mp(3). Rubber. 5 Rubber 1 [ 3 2 » ° ~ S Steel (7) U 8 Steel of (7). i US Tobacco (4) LA (f{2.15) Sales Corp. . Sales Cp pf. Vanadium Corp (3). Vulcan Det ¢ 5 Vulcan Det pf (1)... 508 Syatm (1%) Walworth Co (3). Ward Baking (B) Ward Baking pf (1). Warner Bros Pict. .. Warner Quinlan. ... Warren Bros (3) Wess Oil & Snow (2) West Penn El A (1) 1 131 5 Unlon (8). AB (). E&M5).. 305 West E& M pt (5).. 2408 Weston El Instr (1) Westvaco Chlor (2) 4 White SewingMach. Willys-Overland Wilson & Co. ... Wilson & Co pf. 4 Woolworth (2.40)... Worthington Pump. . Worth Pump(B) (6). Wright Aeronaut. (Wm) (4).. Yellow Truck. Zenith Radlo - RIGHTS EXPIRE Peop Gas Chi. ates a3 given In the above table are the arnual casn | payments based on ‘the ntest quarterly or haif in JJan15 11 9% 9% 9% ‘tBlus 0% in ¥ a Fa in. sioek. “a Pasabic when carncd 10% in stock g Plus 6% in stock. K Plus 3% in stock. m Pius Dreferred stock. CLASS PASSENGER FARE SYSTEM WINS FAVOR| By the Associated Press. The class passenger-fare _system widely used on European railroads is survive as one nation politically, but We. were never intended by nature to be one.” Involuntary Insurance Plan. I have been reiding a most import- ant report of the Industrial Relations Counselors, Inc., which numbers among | its distinguished directors such \\e)l' known American business men as Owen | D. Young, John D. R&)tkt{!ll!r jr., and Cyrus H. McCormick, | It 18 a study of lhe lnvoluntarv in- surance plan for employes instituted by various companies throughout the ! country. ‘When the Counselors compiled their report there were 72 such systems in existence, covering 107,000 earners, less * than one-half of 1 per cent of the total wage earners. Since the report ‘was lissued, the General Electric Co and one or two other outstanding com- panies have inaugurated plans for un- employed insurance. Still, not one in 4 A hundred of the workers employed in the United States is covered at all at low rates from Southeastern points to | contrasted with $430,000,000. the present time. The fact stands out that American ‘workers, by and large, are not so pro . They should be in some W ‘This much is admitted now by nearl: all the important business men in the country. ‘The Counselors’ report sums up the situation in these words: “Both as regards relie{ of the unem- | ployed workers’ distress and counter- | m the inevitable reaction of un- employment upon business, the need for more uate protection inst the hazard unemployment cannot be Copyright. 1930. by North American News. ' (Comrright. 18 oer Allance) MICHIGAN STEEL COHP SELLS OUT TO NATIONAL a1 Dispateh to The Bhr 3 —Ho]:en of more than 85 eem of all the out- mn';r the Michigan Steel & special meeting voted t.lxe ofler of National Steel for purchase of the o MII_ of Michigan Steel of | interests and the Westorn States. finding new advocates among carriers in Two lines, the St. Louis-San Fran- | cisco and the Santa Fe, have received permission from the Irterstate Com- merge Commission to use second-class tickets, and G. J. McGuire, secretary of the Western Passenger Association, indicated today in Chicago a possibility that other Southwestern companies might seek to meet the two-cent-a-mile rate authorized on the Frisco. Under the commission’s order, the Frisco is permitted to sell the second- class tickets for use only on day coaches. | 1t is expected to put the plan into effect early next year. The Sant; Fe has recelved permis- sion to sell, Class tickets between points in Arizona, |BROKER LOAN TOTAL after January 1, second- | DROPS $88,000,000 Figure of $1,920,000,000 Is Now Lowest on Record After Thirteenth Decline. Special Dispatch to The Sta: NEW YORK, December 27.—The weekly statement of the Federal Reserve on brokers’' loans showed a decrease for the week ended December 24 amount- ing to 38! ,000,000, taking the total down to $1,920,000,000, compared with $2,008,- 000,000 a week ago and $3.328,000,000 | a year ago. This is the thirteenth suc- cessive week that brokers' loans have declined and the first time since publication of the loans began in 1826 | that the total dropped below California and New Mexico. It may also cut rates for round-trip tickets between Kansas City and Lawrence and Topeka, E.ans. tion was authorized today to use joint | the Pacific Coast Severa! Southeastern roads have been selling low-rate round-trip tickets with- in the range of bus travel for the last year or more. LOS ANGELES EXCHANGE TO OPEN NEW HOME| Special Dispatch to The Star. LOS ANGELES, December 27. A'I‘hc new building of the Los Angeles Stock Exchange will be formally dedicated ‘lnd opened for trading on the morn- | ng of January 5, when John Earle | Jardine, " president’ of - the i rings the gong, starting trading on what is claimed to be one of the finest ,security trading floors in the country. | The exchange was organized 31 years ago and in that time has occupied eight homes, the new hufldln‘ being | the first lt hu owned outright. RAW SILK Pu‘rms. NEW YORK, December 27 (Special). The m-rl;‘e& hlgr raw silk futures was rregularly r today, !en":‘v.;re m"‘ud e‘;t‘fn ll :‘nfl umnvn with importing connection: interests were on both sides, with trade ho\nu offer- th distant pri i e ¢ options. e n¢ ' Yokohnm up lmllndxobeollhup'l. ly $1,500, worth +s were sold in Sweden in 1930. The Southeastern Passcnger ALMK:XI-‘ change | ufieflem $2,000,000,000. | Loans for own account were $1 uz-l 1 000,000, against $1.184,000,000 last week: loans for out-of-town banks were $294,000,000, com| &‘"d with $395,000,000, | and loans for others were $363,000,000, | The ap- | | parent_difference between the total of | these figures and the reported net de- | | cline is due to the_practice of the Ped- | | eral Reserve Bank in reporting only in | round millions of dollars. | Of the total demand loans made up | $1,408,000,000, against $1,475,000,000 in \the week ended December 17, and time | loans were $512,000,000, compared with | $534,000,000. Markets at a Glance NEW YORK, December 27 | Stocks heavy: pivotal shares elling. Bonds irregula: taln upward trend. rallies reduces early losse: exchanges irrecular; French franc | strong. Cotton irregular; easy stock | market. Sugar lower; Cuban selling. | Coffee dull and f:atureless. g on tax rails main- FOBEIGN EXCHANGE | (Quotaticns furnished by W. B. Hibbs & Co.) Nominal gold Selling checks | Bt Curb heavy; late | Fixed Trust Share Foreign | Fixed Trust Shares B WOULD CURTAIL TIN Special Dispatch to The Star. NEW YORK Deumber 27.—Pro- posals for a t program of tin cipal producing centers of the world, Sir William Peat, chairman of the Executive Committee of the Tin Pro- ducers’ Association. In a circular sent ‘o members of the association, William outlined detalils of a new inter- national tin export quota scheme now being considered by the governments of the Federated Malay States, Dutch East Indies, Bolivia and Nigeria, sub- ject to the assent of all these govern- ments. The agreement will embrace practi- cally 90 per cent of the world output of tin. e : Athlete Killed in Crash. NEW YORK, December 27 (&) Home for the holidays, Edward L. Tray- nor, 21, captain of the University of Vermont base ball team, was fatally in- jured when the car in which he was riding left the road and crashed into a tree near Baldwin, N. Y., yesterday. He died a few hours later. INVESTMENT TRUSTS NEW YORK, December 27 (#).—Over the counter market: Bid. Asked. All-Am_Investors A . 8% ifie Blversined Trustce Snares First Amer Corp Incorporated Investors Independence Tr Shares. Int Secur Corp Am A nt 3, EoavSEs E FEPEEV. o 20380 Investors Trustee Share: Jackson ‘& Curtis Invest Assoc Leaders of Tndustry Sea Zurich, - tranc. thens, d D 'BONDS IRREGULAR export restriction, nfluunz the prin- n were made public in London today by | Feq’ Sir Mar INLOWER TREND iPrime Group Affected by De- clines in Other Sections of List. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, December 27—8}""‘ pathetically affected by & new wave of liquidation in stocks, the bond market worked irregularly downward today. The declines ranged from fractions in the prime group to as much as 2 points in semi-speculative domestic rails and industrials. In the foreign list South Americans were weak, but the more conservative of the European descriptions stood firm or gained slightly. Money rates were unchanged. The volume of trading was fairly heavy compared with the slow pace of other sessions this week. The chief contrast that the market offered with recent declines paralleling equity movements was that there was no heavy cashing of United States Gov- ernment bonds. This was taken as a good omen. It left only forced selling resulting from impairment of margin accounts and tax liquidation as the causes of the fresh downturn. Liberty and Treasury issues stood firm. In the high-grade investment group, Atchison General 4s, Canadian National 4!3s, Great Northern 7s, Brooklyn Union Gas 5s, Consolidated Gas 5':s, National Dairy Products 5%s and Standard Oil of New Jersey 5s made small gains. But most issues in_this section lost fractionally. Nickel Plate 4155 were off 1!4 points. Smaller drops occurred in Baltimore & Ohio 4s, American Telephone 5!3s, Duquesne Light 41;s, Philadelphia Company 5s, Utah Pcwer “& Light 5s, Atlantic Re- fining 5s, Inland Steel 4.5, Pan-Ameri- can Petroleum 6s and Youngstown Sheet & Tube 5s. In the junior rails Erie general lien 4s were off 11; and International Great Northern adjustments off 1. Smaller losses were shown by Chicago & East- ern Illinois 5s, Chicago Great Western 4s, St. Paul 5s, Denver & Rio Grande Western 5s, and Missouri-Pacific 4s, while Erie 55 and Southern Rallway 4s were higher. Industrials had a similar trend. Hudson Coal 5s were off over a point and so were Richfield Ofl 6s and International Hydro-electric 6s, but other drops were small, Washmgton Stock Exchange SALES. Capital Traction Co.—10 at 43, 10 at 43. | Federal-American Co. com.—10 at 271;. Mergenthaler Linctype—10 at 85. AFTER CALL. Washington Gas 6s “A”—$500 at 1021, Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Tel Amer. Tel. & Telg; Am. Tel & Tel ctly g rel’ of Va, 55 Capital Traetion MISCELLANEOUS. Barber & Ross. Inc. 82 Chevy Chase Ciub 5 Golumbia ‘Countty Chib 813 D. C Paper Mfs. 6s Yash. Mkt. Cold smrue Be. w Cons. PUBLIC UTILITY. Amer. Tel. & Tel Capital Traction Co. j Wash. Gas Light Co. (18):1. W. Steamboat (12g) Pnlomlr Eiec. Power 67 bid Pot Pow fd vy com Wash. ®wy. & B oo NATIONAL BANK. Capital (14)... Columbia (13 Commercial (stamped) (10)". District (8) 5 Metropolitan Riggs 50 Washington (1)’ 'nwa'r COMPANY. . Co. (15). Loan & Trust iid) SAVINGS BANK. Bank of Bethesda (6%) Gommerce & Savings (10 East Washinston (12) Potom: ® Securlty 8av. &’ o Seventh _Street (12)..... United States (30) Washington Mechanics' {30} .. FIRE INSURANCE. American (12). PRODUCTION TWO YEARS |7 MISCELLANEOUS, Barber & Ross. Inc.. com ol. Medical Blds, Cnrn 8an £ Sol, 558 elz « PEiorane ptd. ) Feder d. . com. (1.201). . pfd. (8 Am. Fed-Am' Ci 28533 8 a¥ ist. M. 1d. Murll] !lorllt uf! Ref. 'h. Corp. (3n) The Clrpel Corp. (1.50c) Mech. ‘dl! eum 1! Wash Nied: Woodward & bnmrun Dfd M. “Ex dividend. 8 usi.a Unlisted Department. - (These securities not listed under exchange rules.) Army-Nayy Club Ss. osm¢ Sormaarcial "Cluk” Metropolitan Club 4’ National Press Blde. ‘15t 7s.. STOCKS. Anlmxua Bank. ings Park Savings. Bank Raleigh Hotel Cq Washington 8¢ ingts PEACHES WANTS DIVORCE Wife of Daddy Browning to Seek Absolute Decree. NEW YORK, December 27 (#).— Notice that Frances Heenan (Peaches) Browning seeks an absolute divorce from Edward W. (Daddy) Browning, multimillionaire real estate operator, 'll! served on Browning today. Browning's lawyers said the suit would be filed within the next two days. It will ask umponry alimony of $50, 000 a year and legal fees of $25,000. A Supreme Court order lflued yesterday named Mrs. Carolyn Heenan, Mrs. Browning’s mother, her guardian for the action. The suit will charge infidelity. Mrs. Browning was not given alimony when Browning won # suit for separation DECEMBER [~ won BONDS o s Received by Private Wire UNITED STATES. (Sales are in $1.000.) Sales. High. Low. Close. 5 10125 10125 10125 316 10229 10229 10229 121 10319 103 18 10319 20 1062 106 106 25108 108 108 41 1125 1124 124 FOREIGN. Sales. High. Low. Close. 1 85% 86l 854 oow US4e%s's2.. Argentine 61562, Argentine Ma Argentine 6s Ju 89 2! Argentine 65 Oc 69 Argentine 63 A '57. Argentine 6s B '58. Australia 4% Australia 68 ‘55 Australia AustriaTs u Bk of Chile Bk of Cnile 6% 861 Batav Pet 414542, Belgium €8 ‘65 Belgium 6148 49 Belgium 78’65, ... Belgium 78 *56. ... Bolivar 78 '58.. . Bolivia 7s ctt. Bolivia 88 45 Bordeaux 65 ‘3¢ Brazil 6% Brazil 6% Rrazil 8541, Bremen 7s '35, Canada s Canada Chile 6860, Chile 68 '81. Chile 7n*42. Colombla 68 Jan "¢ Con Pow Japan 7 Copenhag 55 '62. Cuba 6%s 45 zecho 85 '51. snh 9014 65 'Il W!‘A 6% 71 103% 6% 801 92% % 101% 107 111% 107% 37% 35 44 @ 104% 56 FnSannscnSan now SoBas 721 100 104% 70 71 89% 57 95 9% 724 110% 107% 9315 100% N a8 meaBp wnantmcans © llO‘é 107% 101% 76 94% 120 125% 0% 78 4 101 % French Gvt German 5% German Bank 6s ‘3% German 7s rep *49. Ger Gen E1 78 '45. . Greek 63 '63 Hatu 6252 t 9% 92 . 102% ‘% Jugosl Bank 'll 'l'l. 7 Karstadt 6s°43. . Kreug & Tol) bs 3 5% 59% 104% 1001 Nord 6148 50 Norway Norway Norway Orient dev 63%s '58. Paris-Ly M : 104% Paris-Ly M 7s '58. 1061 z 101% 35 34% 62 3% 9% 92 17% 7 47 654 50. . Queenland 7s “41. Rhine West 68 ’5!. 37 75 8% 8% 86 T5% 106% 8% 90% 104% 105% Serbs-Cr-S1 Sweden 5%s°5 Swiss 51%s ‘46 Toho EI Pow Toho El Pow 78 '55 Tokio 6%3'61. Ctd King 6% Uruguay 6s '60. Uruguay 8s 4 Vienna 6s 52, Warsaw 78 'S Yokohama 6s MISCELLANEOUS. ADItIBI P& P 58°53 29 69 68% Ab&St5%s'43... 4 894 Allegheny 6: 12 741 Alleghany 65 °49... 28 74l Allis-Chalm 6s'37. 2 101% Am Chain 65 '33. 9 98% Am F P 5148 2030 Am I GChb6%s'49. Am Int Cor 5%8 *49 Am N Gas 63342 Am S&R 181 53 '47. Am Sug Ref 63°37. Am T&T cv 4%5'39 Am T&T b8 "65. Am T&Tctr 5 Am T&T 6s st '60 Am T&T 5 104% 74% FeApEnuas ARD~ ~ 945 69 894 4% 44 4 101% 9815 6% 1 8 4 4 9 1 27 37 13 23 At Ref deb b3 ‘3 Bell Tel Pa 63 B Beth St pm Cert-td deb 515 ‘48 Chile Cop db 65 *47. Saomman veagne we C Am Sug col Dcdge Bros cl Duquesne 4145 '67. East C Sug T%s Fisk Rub 85 41. Gen St Cas BV,l'fl Gen Thea Eq 6340 @eodrich cv 6845 Bruman aooe s 9 Humble O11 68 °37.. Hum O&R 6% M BTIistprssA inland Steel 4 % Int Hydro EI 63 ‘44 Int Match 68 '47... In M M col tr 65 41 Int Pap 6s A ‘47 Int Pap 6s 55, It T&Tels'62 Int T&T cv Ilg‘l 1] N RrourSana anie 3% 4 101% 101% 101%-101% 46 4T% 105% 105% 100% 100% 96% 96% 102 102 L.oew's 6s ex war, Lortllard 78 *44. McKes&Ro 5%8'50 Man S Ist 1% 42 Midvale St Mont Pow. . Mor & Co 18t 4%45.. Nat Dairy 6%5 48. Nat Rad 6%s 4’ N Y Ed 18t 63%8 41 N Y Tel 4%s5°39 N Y Tel 6 Nor Am Ed 6%s 3 NorOT&L Nor St Pow 79 27 101 4-103% 9% 98% 14% 102 Pac T&T1st Pan-Am Pet Paramount 68 - woorBla tee nenannal vorma mannue-o Pure Oll 6%s Rich0'd O cal Sinelair P SW Bell T StOlINJ . SO N Y 434351, Sug Bs Or 78 '42 4% 9% W 114% | Direct to The Star . Low. Close. % 99% 99% 6T 67% 3% 8% a 4 66% 66% 48 48 13 12 104% 104% 102% 102% 25 25 95 95 BY 98% 101% 102 8al UtahP&LEs'44.. 6 Utll Pwr 58 '50 ww. Utll Pow 5% 847, . Vert Sug 1st 78 °42. Wh Sew Mch 65’40 Wil-Ov 18t %3 '33 Wil & Co 15t 6; YouSt& T b7 RA! LIOAD. Atchison ad) ¢s Atchison gen 4s ‘95 Atch'on cv 438 41 Atch Ariz 4%s 62.. 3! B&O 4s"4s. B&Ocvs B&O4%s B &0 1stbs’4 93 9% 1115 101% 95% 93 97% 4 111% 101% 95% Bkiyn Elev Bklyn Man 6: Bush Ter con 58 '55 Cnn Nn 4% N... Can Nlll l‘Al Kl Can Nat bs July Can Nat 68 Oc! Can Nor 4348 '35 Can Nor 6% s db'46 Can Pacific db Can Pacific 4%5'60 Centof Ga 58 C 59, Cent Pacific 53 60. C'n Ry NJ gn 55’87 Ches Corp 68 *47 Ch&O 4% C& O con bs. CB&Q4%s "I'I Ch & East 111 6 Chi Grt West 4s '59 Ch M&StP 4 %48 E., Ch M&StP 4%3'89. Ch M St P&P 68 76. Ch M &St Padjbs Chi NW 43%sC 2037 Ch & NW co Ch & NW las 38 Ch Rwys 53 2 Ch R I&P gn 45°38 1034 100% 3% 634 911 95 681 264 90% 105% 64% 103% 100% 31% 63% 914 95 6815 264 90% 0 Ch Un Sta 63 B'63. 1 CCC&St L 4348 (E) CCC&SLb6sD's3 Clev&Pitts 4% s Cuba RR rf 7%s'36 Cuba Nor 6%s 43.. Del & Hud 6% D& R Gr en 72 404 104'% 94% T2% 70 1% 78 106 104'5 940 2% 70 % T 106 1% 105 111 96% Erle Gen R 68 '57.. Fla E Coast 58 '74. Gr Trs fdb és 36 Gr Trunk 78 '40 Gr Nor 4%8°76 (D) Gr Nor 4%8'77 (E) Gr Nor 6s'73. . Gr Norgn 5% 53. Gr Ner gen 7 Hav El Ry 6% Hud & M ad) 6 Hud & M rf 68 °'87 111 Cent ref 4s ‘55 111 Cent 4% Int Rap T Int Rap Tr s Int Rap Tr 68 '32. Int Rap Tr 7s 3. [nt &G N ad 6 5! Int RySCA B Int RysCA 6s 'H. Kan City Sou 58 '50 Kan City Ter 45'60 L&N1strf 5% Manh Ry 1st 48 °9 Market St 15 °40 m'a 85 90 100 89% 89 MK&T 1st MK &T adj MK&Toprin | Mo Pac gen 48 7| Mo Pacific Mo Pacific 58 G Mo Pac5%scy" Nassau Elec 4551, NOT& Mb%s "5 e o NY O&W 1st 4392 NY Rys ine 5. Nort South b8 '41.. Nor Pacific 38 2047 Nor Pacific 4s'97. . Nor Pac 1682047, Oreg- Wash ¢s 61 Penn 4%s°70. Penn 4% s 63. Penna bs Penn 6% Pere M 1st P CC&StL 4%s7 Por R L&P 1%8 {8 Reading 4%s B... Read Jer Cen 45 51 RIAr&L4%s 34 St L Ir Mnt 68 StL IM R&G ¢ StL&SFin s omeuae_. Punuken eniRab-ash aow~an pua [P 6 99 1021 108% 1023, 998 107% 100 947%, 99 100%,100% 28 98 H a;u;oq: o MRmoMnING amE St L&SF prin6s B StP&KCSL 4%s Seab A Lrf 4s Seab A L 48 st '50. Seab A L e Seab A L adj bs '49. Seab All Fl 63 A'35 Seab All Fl: s B'35 Sou P 4% 65 w Sou P&OT 4% 8 77, o Sx% &R Tex & Ark 6% '50. Tex & Pac b8 B "17. Third Avad) 68 '60. Un Pac 1st Un Pac ¢%8'67, Va Ry I1st bs'62... Wahash 4% s wnmn 2d 68, U. S TEEASUBY BALANCE. ‘The United States Treasury balance announced today as of close of business December 23, was $332,161,434.13. Customs receipts for the month to date ‘were $24,507,121.88. Total ordinary expendlturu‘ $5,784,444. ll. NEW YORK BANK STOCKS NEW YORK, Decembs:r 27 (#).—Over- the-counter market: CORN VALUES DROP RAPIDLY IN WEEK Most Deliveries Are Now Un< der Wheat Prices—Big Carry-over Expected. By the Associated Press. CHICAGO, December 27.—Somer- saulting done by the corn market is Just now putting all grain traders' teeth on edge. Heretofore estimates current as to huge amounts of wheat that, owing to the corn crop shortage result- ing from unprecedented drought, would be fed to live stock have been based on general assumption that wheat would remain cheaper than corn. Instead most deliveries of corn have dramatically dropped in value to a dis- count of nearly 15 cents a bushel com- pared with whes and authoritative suggestions were heard today that the carry-over of domestic wheat on July 1 next. the end of the crop year, is likely to exceed by 25.000,000 bushels the record holding on July 1, 1930. Farmers Disposed to Sell. Contrasting with a week ago, the corn market this morning was 5% to 73 cents a bushel lower, wheat 5‘4 cents off to 1; cent up, oats 13; to 2a cents down, and provisions showml 32 to 65 cents decline, At present many farmers seem dis- posed. to sell wheat, the price of July contncu which represent the new 1931 wheat crop, being taken as indicative of what can be expected should Govern- ment-sponsored shblllmtion measures end when the May delivery expires and the ordinary time for 1930 crop han- dling is over. The corn market action, which has largely brought about this Jjuncture as to wheat, is a close dupli- cate of what happened in 1894, when corn at one time was at a premium over ‘wheat, only to fall afterward to a heavy discount, notwithstanding a short crop. The extraordinary new performance of the corn market is best shown by thé fact that December corn, which in Midsummer last soared as high as n# cents, was quoted this morning at 617 cents, a downward sweep of 3 cents a bushel. Use of Substitutes. Enormous use of substitutes for corn as feed is one reason ascribed for the collapse of corn values. Oats in par- ticular is reported to have taken the place of corn to a great extent this season, an ex:ellenl crop of oats having been raise 1,402,000,000 bushels, against 1220000000 bushels in 1929. Meanwhile, the world's total available whut supply for the present season figures out around 4,440,000,000 bushels, the largest ever known. Provisions lnlely reflect the weak- ness shown by grain. Waahiligton Produce Butter —One-pound prints, 37a38; tub, 3512a36%3. Eggs—Hennery, 32a33; ceipts, 28a30. Poultry, alive—Turkeys, youn 27; old, 23a24; chickens, 17al horns, 16; fowls, helvy 15a16; nmul. 14a15; Leghorn fowls, Toosters, 1!' current re- = ducks, 15 keats, large Tand yoreE. old, 25a30. Dresaed—"nxrken. %gunx‘ 3!!35 old 31!!2 chlcke_m 20! Fruits—Strawberries, per ranges, California, 3.50a5.00 750.350 grapefruit, 250!!00 tan= gerines, 1.50a2.25; kumquats, per quart, 20; apes, Belgnln. ot house, per pound, 85; Emperors, 1.50a2.00; cran- ‘1013, benr;!es. 3.75; apples, bushel baskets; 15. box stock, 3.25a3.75; lemons, 3.008 4.00; pears, box stock, !26!370 pine- P egetabies Potatoes, 150-pound ‘egetables—] 3.00a3.50; Florida, new, e 500 ey Guit Y celery, ornia, la craf 5.00; New York, small mm";nmtn? gsgb;ge dnevl, kl:" lmsl) per, 2.00; old,, -pound sacks, , bushel, 1.25a1.50; L 2.50a3.00; broccol :m 100-! 25; caulifiower, 2.00a2.25; toma- toes, repacks, 2.00a3.00 house urd baskets, 1.35a1 ancy, per dozen, 1.80 endive, 10-pound _box, , 4.00a5.00; kale, DIVIDENDS DECLARED NEW YORK, December 27 (#).— Regular, Hidrs. of Jan, m Feb. b 7 Dec. 2 Jan. Pas- Company. Lable Asgoc Dy’ Goods. b. Do 1st pf 113" 2d l 13,7 Bancroft 1 fv\or-' andwn Brookline Mass) Pe- Rate. riod. 6 Q Chapman Valve Mfs Shic'Dly News pf. J Corn Product: |- nnn 559 55 oa B2 LwEREELLEE. . aeBEE . n.$1.: Futter Brusn pr. Genl Equip Corp. Guenther Publis Guardian Bub U Inv Tr pf. Dulrdlun mu Inv Harrishs G Tndustrial C Lane Co Inc. HEN Lvnnullmne :1“ Do Tr Ot SRRRRRNEN ¥ HHEEY McCrofy Sior Merch Bk (Balt)’ 5t SR B asce 32 Panke AL & L nl 50¢ Peoy & C 52 me(?mom Wy ¢ Tiand Pub G 55 e FRE R 2 3 3 Automel:Bankin... Bid. Asked. }4 2" i §=§=sn== g §=!§§ 3,57 8 = 1081 £ i3 7 44 17 New el Brookline Tr (Mess) 81 s Chapman v.xn aitg 81 Ex Corn _Produ Wathe” Gas ‘Co. Ex Ok B! 84, pt. 31 B b Resumed. Indus Cred Ser Inc. 10c Bonus, Bunker H & Sullivan M & Cpf.........500 §’ lqmmd. Jan. Assoc See Invest AU, Shlow "ieters 156 7 B iBeH ollflll E”u'é“x.f'?f"'”lufi siea B8 B oo o de’l‘e‘h dwmmh in Mexico this yo* ds nsw being tro '::annmym = )