Evening Star Newspaper, December 29, 1930, Page 15

THE EVENING STAR, WASHINGTON, D. C, MONDAY, DECEMBER 29, 1939. TRANSACTIONS ON THE NEW YORK CURB MARKET Stock and Sales— Dividend Rate. Add 00. Oven. High. Low. Close. Utd Found b2-358h. 149 6% 6% 6 6 Utd GasCorpn...... 36 6% 7w 6% T Utd Gas (war). 200 2% 2% 2% Utd Gas pf (7). 85 85% 841 B4l Utd Lt & Pow A (1). 22% 22% 21% 23 % SoCal Ed pf C (1%). Utd Lt & Pow pf (6). 901 90 8915 89% Southern Corp...... 3 U S Dafry (A) (5). 60 60 60 60w So Pipe Line (12)... 4 8% 8% 8y 84 SouthldRoyalty (60c) 10 an 4 3 SW Dalfry Products. 1 6 8 ol 1 Sou Dairy pf ww....100s 3 3% 3u sw Utilitles... 2 .o 1 14 Spanish & Genrets.. 1 & Int Sec 18t (5). 31 304 814 pieg M Stpf (63%). 50s Lines of (1). 5% 5% 12 2 Stand Invest cum pf.100s oy e 114 }‘1“»: Standard Motors. 3 ctfs 28%0 s Svanda(‘»n Ind (2%). US Playing Cards(4) 45 In addition to acquiring the Eastern Stana Of1 :f KYI("‘L") ;\- Public Service Corporation bus line be- Stand Oil Neb(13%). 2 - . Stand O1l Ohlo (2%). ™ t:;enrwa&hh:;lom :u?. and Knox: Stand P & L B (2) 6% Jitte, Wentl., Hiroug e Shenandoah St Pow & Lt pf (7). % Valley, United Utilities, recently or- ganized, will take over January 1 all StarretiCorp. ..o ol Starrett Corp p! " subsidiary lines of the Eastern, it was Strauss Rotn. 5 learned here today. These include the §:Tlonk ‘,o.() ‘Townes Bus Lines, Washington-Shen- »QI. I‘\.Hl Machine. . andoah Lines and the Virginia Motor l&;“n“‘-v().'!. RO Lines. After January 1 the subsidiary Sunray Oil (b5% comfnmvs will be dissolved and United Utllities will take control. The present status of the Eastern as a corporation | will remain the same. Decision of Eastern stockholders to sell to the United was made recently at a meeting in Washington. The new corporation will pay approximately $500,000 for the assets of the company. The Virginia Corporation Commission has granted a charter to United Util-. ities, with a capital of $1,050,000. Offi- cers of the corporation are C. B. Cole, president; R. W. Shoaf, vice president, and R. A. Lawrence, secretary-treasurer, all of Roanoke, Va. The purpose of the acquisition of the Eastern and its subsidiaries, Mr. Shoaf states, is to solidify the position now occupied by the Eastern of being the largest line now operating out 0? this' State and operating almost exclusively under a Virginia franchise. The line, he said, served a population exceeding 1,000.000 along a distance of approxi- mately 450 highway miles. Members of the board of directors of United Utilities are C. B. Cole and D. J. Breslin, both of Roanoke; Maj. B. H. Hardy, Richmond; N. S. Dial, former United States Senator from South Car- olina, now of Washington; C. W. War- den, Washington, and J. H. Lennon, Hartford, Conn. GRAIN MARKET CHICAGO, December 29 (Special).— The wheat market was higher today under further short covering, despite FINANCIAT. ®¥¥ A—I5 EXPANSION OF BUS SERVICE PLANNED Corporation to Take Over Several Lines Operating Near District. * FINANCIAL —Prev. 1930, High. Low. Stock and Dividend Rat Silica Gel ctfs. Sioux C G&E pf (7) Smith (A 0) (2).. Sou Penn Ofl (12%). SoCal Ed pf B (134). — Prev. 1930.— Hish. Low. 4% 24 w9 iaT Stock and Note—All stocks are sold in one hundred-share lots Bivicond Rale. excepting those designated !y the letter s (80s) (250s) which shows those stocks to be sold in odd lots only. —Prev 1930.~ Stock ahd Sales— . High. Low. Dividend Rate. Add 00. Open. High. Low. Close.| 5% % PRIGES ARE MIXED | IN CURB DEALINGS Short Covering Tends to 3% AeroSupply (B).... 4 EL 34 13% Ofiset Effects of Tax 39 fi;‘; Aero Underwriters. . 2 5y 7 Agfa Ansco pf . 50s 69 101 Seli 3 5 Ainsworth Mfg (1).. 2t 9 15 Afr Investors vtc. .. % elling. 3 79% Ala Great Sou (113). 3l 10% All AmGen Corp. ... 574 29 Allied Int Inv pf (3). 50 4% Allied Milis (60c). .. 147 Aluminum Co of Am 475s 111% 104 Afu Co of Am pf (6). 4815 20 Am Arch Co (3) T4 1 Amer Austin &, 1 Am British & Cont.. 13% 5 Am Capital (B) 40 26% Am Capital pf (3) 49 27 AmCP&L (A) (a3). 28% 4% AmCP&L B (10%). 1 5 5 5 insCoNAm (13)... 1 2815 10 AmCom P A (b10%) 15 2 2 2 Insurance Sec (70c). 21 37 6% AmCyanamid (B).. Intercontinent Pet n 6 1% Am Dept Stores..... Int Holding & Inv Co 22 4 Am Equities. .... int Petroleum (1)... 767 11% Am For Pow (war).. Internat Products. . . 7 3 Am Founders(b4-70) int Saf Raz B (12%) 157 T4y AmGas& Ei(11)... Int Superpwr (£1.10) 109% 104 Am Gas & El pf (6).. Int Utilities A (33%). 621: 47 Am Hardware (5)., 108 Internat Utfl (B). InterstateEquities. . ; Interstate Ecn pf(3) Am Lt& Trac (2%5. 1 Interst Hose Mills. . Am Manufactur (4). 208 Interst Pow pf (7). . 15 Am Maricabo o Irving Alr Chute (1) Am Natural Gas.... 3 Italtan Superp (A).. Am iuperrou"r‘(‘l)nc) 155 Italian Superp war. . m Superp pt (6)... 5 Am Superpwr 1st(8) 3 SY——— Am Transfor (1.40) . Sl 814 Am Ut&G (B) (36c). asn (H ) pBpes start, recovered and dropped again. 3% Anchor P F (b10%). Kleinert Co (1).... Vacuum Oil was lower at first, but 71 Anglo Chil Nitrate Knott Corp (1)...... later came back. Deere & Co. was » 5 Appalachian Gas ifolster-Er (Am Sh). initially lower, but around mid- 28 3 Arcturus Rad Tube.. L’Air Liquide (1.07). showed a point gain. 16% 4% Arkansas Nat Ga: Lackawanna See (4). During the morning session there | 16w 4% Ark NatGas (A) Lakey Foundry..... were new lows for the year in Blue| “xi1, 61 Ark NG cu pf (6 Lazarus F & R Co Ridge, Goldman Sachs, Shenandoah.| 110 100 ArkP&Lyf (7 Lefcourt Real t1. Aluminum Corporation, Safeway Car | 601 20 Armstrong Cork (1). Lefcourt Real pf (3). heating, Technicolor, Newmont Mining, [ 2 3% Art Metal (1.60) Leh C& N n (1.40).. Bunker Hill & Sullivan, Alabama Great| 3 55 Arundel Corporation. LeonardoOfl. .. - Southern, American Austin, Niles-Be- 4% Asso El Ind Lud 30c. Larner Stores (2) ment-Pond, Buckeye Pipe Line and 137 Assc G&E A (a12.40) Lion Ol & Refinin; Canadian Marconi. Many of these 14 Asso GEE (A)dbris 11 Loblaw Groe A(80¢). later advanced from their bottoms. % Asso G&Elpurrts... 3 Loew's Inc war).... The most active utilities before mi 60% 31% Asso Rayonpf (6)... 2 Lone Star Gasn (1) day were Tampa Electric, off 2 poin 2813 4 Atlantic Coast Fish. Long Isld Lt (65¢).. American Gas & Electric, up 3, and | 14% 3% Atlas Util Corp.. Long Isl Lt pf (7) Northern States Power A, off 2 points. 5 1 Atlas Utilities war. ., Louisiana Lan & Ex. Industrials were also mixed. American| 8% 14 Auto Voting Mach...337s MacMarr Stores (1). Cyanamid B, Hiram Walker and Wal-| 17's 5% Auto Vot Mecvofpt, 27 MAgOR1ea Synd, oo . green were fractionally lower, while| 141 100 Babcox & Wi (19).. 50s Mangel St pt (6% ).+ 753 Crocker Wheeler, Swift & Co. and 7% 1% Bahia Corp.. ool & Manning-Bow A 115 . Marconi br sh(28c). Marion Steam Sho: Add 00. Open. High. Low. Close. | High. Low. Groc Strs Prod v.te.. 38 s 2 2 | s % Guard Fire Asso (2), 18 18 18 | 103 96 Guardian Invest..... % S Sy 250 120% Gulf Ol of Pa (1%). 4 63% 62% 63 Hartman Tobacco. ' % % Hazeltine Corp (2).. 14% Hecla Mining (1), T Heyden Chem (1).. Hires (CE) (A) (2). Hou-Her cv pf A 214 Hudson Bay M & 8., Humble Oil (12%). .. Huyler Strs cu pf(7) i1vdro Elec Sec (2).+ Hygrade Food Prod. imp Ol of Can (50¢) 11 Ind Ter 11lu Oil (A). 11 Ind Fin ctfs (b10%). 751 irdus Fincv pf (1).. 258 Inland Util A (1.70). 1 Insull Ut(tb10%4%). 2 Insull Utll 2d p£(6) . .1008 Bales— l ~Prev. 1930.~ 457 28 20 1 Bpecial Dispatch to The Star. WINCHESTER, Va., December 29.— BY JOHN A. CRON! Bpecial Dispatch to The Star. NEW YORK, December 29.—The curb market had an indeterminate trend today, with a continuation of tax liquidation combining’ with short cov- ering to unsettle the undertone. The opening was weak and before the market received support a long iist of stocks made new low levels for the year. For the most part, however, the movements were fractional. Excef)— tions were Nevada-California Electric, always a wide mover, which opened up 213, points and later went high, and L’Air Liguide, which dropped 16's points. Both were adjustments to market movements taking place since the last sales in these stock: The movements of a few active lead- ers illustrate the nature of the trading. «© Electric Bond & Share opened un- 33 changed at 391, dropped an eighth, re- covered and went to a fractional net 2 gain and then eased. Cities Service wi H off at the opening, later equalled its 8¢ previous close and then dropped a 82 shade. p 8 St. Regis Paper was off a little at the Utd Verde Ext (2)... Utd Wall Paper Util Pow & Lt (a1) UtP&LefsB at1.02%. Utility & Ind. . Utll & Ind pf ( Utility Equitles. Vacuum (t4%) Van Camp Packing Venezuela Petrol Vie Finan Cor (40 Waitt & Bond A 2). Walgreen Co........ Walgreen Co (war).. Walker (H) (1)..... Wayne Pump. Wenden Coppe: West V Coal & Co West Auto S A (3)... West Mass Co (2%). West Pow pt (7). Willlams R C (1.40) . Wil-Low Cafeterias. Wil-Low Cafeteria p1 Winter (Eenj). Woodley Petroleum. Zonite Products ¢1).. RIGHTS. Expire. 14% 10% Com Edison..Feb 2 6 11% 113 11% 11% Dividend rates in dollars based on last quarterly or semi-annual payment. *Ex dividend. tPartly extrs. iPlus 4% in stock. | Payable n cash or stock. b Payable in stock. e Adjustment divi- dend. {Plus 5% in stock. & Plus 6% in stock. h Plus 1% in stock. | S Plus 2% in stock. kPlus 10% in stock. m Plus 3% In stock nPlus 8% in stock. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. o 0= 30 0091 1 320000 bt et bl wan Finch Oil. . wift & Co new ( Swift Internatl (14). Syracuse W Mch(B). Taggart Corp (1). Tampa Electric (32). Technicolor Inc. Teck Hughes (6! Texon Ofl&Land (f Tobacco Pr Exports. Todd Shipyard (4)... Tran Con Air Tran.. Trans Lux DLPS.. ri-Cont Corp (war) plex Safety Glass Tubize Chatel (B). Tung Sol Lamp (1) Ungerlelder F Corp ion Am Invest. . Un N G of Can 11.60. Utd Carr Fa Utd Corp ¢ Utd Dryv Docks. » » S [T L NETSTSE-JOP P PRIy w5 16 49 99 10% 104 2% 2 144 13 i % 2 2 8% 8% P - = 3 [T -15-PROTG P 8 LD I Py ] ) ; Utd EI Sv pr war.... 10s 82 % OB eIt i B ~Prev.1930— High. Low. 10 Stock and Dividend Rate. Olose. Close. RIGHTS EXPIRE 8% PeopGasChi..Jan16 2 9% 9% 9% 9% Sales of Stocks on New York Exchange 10:30 A M. « 492900 12:00 Noon. 1,273,900 1:30 P.M... « 1.886,700 0 P.M. 2,184 200 Sales— Add 00. High. Low. (Continued From Page 14.) Prev. alens . W Add 00. High™ Low. Close. Close. . 128 53% b52% 53% B3 12 56% 10% ® Stock and Dividend Rate. Woolworth (2.40) Worthington Pump, Wright Aeronaut. . ~Prev.1930~ High. Low. 72% 51% 169 47 591 10% Great Atlantic & Pacific were higher. 7% 1% Bahia Corp pf. » .8 In the oils Cosden and Venezuelan| 80 70 Baumann (L) pf (7).100s 3 38 @ Petroleum were lower and Gulf Oil of | 1571 145 Bell Tel of Can (8).. Pennsylvania and Humble ranged higher. CHESAPEAKE BANK APPRAISAL PUSHED State Commissioner Hopes Insti- tution May Pay 50 Cents on Dollar. Special Dispatch to The Star. BALTIMORE, December 29.—State Bank Commissioner George W. Page to- day announced that the Chesapeake Bank, which went into the hands of receivers on December 9, is expected to pay its depositors 50 cents or more on the dollar. ‘The announcement was made follow- ing a conference between Mr. Page, John D. Hospelhorn, deputy bank com- missioner, and Herbert Levy, counsel for the receivers. Following the conference, Mr. Page, named receiver for the bank, said: “Ever since the bank was placed in my hands as receiver the Clearing House Committee has been co-operating with me in making an appraisal of all the assets of the bank. We have been working day and night to complete the appraisal at the earliest possible moment. “From present indications it seems that we shall be able to make a final report to the clearing house early next ‘week, at which time we hope plans will be formulated to give some immediate Tellef to the depositors. “I have great hopes that the depositors ‘will realize at least 50 per cent of their deposits.” BONDS THE CURB MARKET. les DOMESTIC BONDS. thousands, High. Low. Noon. 13 Alabama Pw 45 '67 963 96% 9634 3 Alabama Pow 5s '68 10134 1013 10134 10Amer G & E 55 '28. 9513 9513 951% 7Amer P & L 6s 201610134 10112 101’ 1Amer Roil Mill 55 '48 96% 96% 9 2 Amer Seating 6s '36. 54 = 54 & 5 1Appalach Gas 6s 45 70 70 170 8 Appalac Gas 65 B '45 50 50 50 2 Appalach_Pow 55 '56 100% 100%a 100% 1 Appaiac Pw 65 A 2024101 = 101 ~ 101 4Arkans P & L 55 '56 97 97 2 Armstrg Cork 5s 550 G & E 413 50 Gas & Ei 5 50 Gas & EI 55 ' &E > 1111 1 Tel Can 85 A '55102'4 1 st & Me 6s m uff Gen El 55 A - 8 Carolina P & L 55 '3 € Caterpillar ‘Tr5s B Cent bt Elec 5':8 ! 7 Cent St PAL 5128 ! 1Chi Dis Elec 5125 '38 92 Cities Service 55 ' 5 Cities Service 5 ' 3Cit Serv_Pow 5l 1 Comwh Ed 4’53 D 5 B8 Consum Pow 4125 4Cont G & E 5% A ' 2 Cudahy Pk 5'4s 1Det C Cms 55 B 15 Det Int Brdg 6'ss '8 2East Utilit Iny 5 'S 1Edis Bl Bost 55 A '33 101 1Fiec P & L 55 A 2030 1 Firestone Tire 55 '42 11 Pisk Rubber 51,5 '31 Gen Laundry s 5 ag, 2814 s n s oo 0! 2 833, R8LL 25 35. 90 ' 90 90 37, 1 10015 10015 10015 55 A 56 95 ot Hauea! Bt rststmorins B 2 69 98'; 08'; 98! 331013 10115 10115 wi 982, o983l 983 5010413 10413 10415 '83 101 * 101 * 101 47100% 10074 1007 49100 * 100 * 100 50 9513 95'; 3% ug 8 P & L 55 C och Cn Pw 55 A '53 50 ° 59 Saxet Co 65 A '45.. 705 19% Shaw W&P 4lus B 68 9113 91 v 70 10012 10013 100% 100 ° 9975 997, 258 a s Tt B! B weaBann BiB00ueE5.8 0, 22 2rEREDTT ocota Mtz BK 7 an Dominion 45 Ghile ‘Mtz Bk 68 Danish Cons, 55 Europ Mtg 78 er Cons Mun 8 47 3 Runr Chem g2 A 18 Ruhr G Co 6 Russian § ul 10 Stinnes 75 2 Stinnes 4 Unit Indust ww—With x out $When sssued. An enormous area is sown to flax in #ndia, but only the seed is used. 27 Bigelow-Sannford... 50s 2% Blue Ridge Cp(p20c) 62 80 Blue Ridgecvpf(as) 44 10 Blumenthal (S)..... % % Biyn Shoes Inc...... 34 Bourjois, Inc (25¢).. 19% Brazil Tr&Lt(b8%). 3 Brill Corp (A) (65¢). 1% Br Celanese rcts. 397 Buckeye PL (4).... 243; Buff N&EP pf (1.60). 20 Bulovacy pf (3%).. 50 Bunker HIIlI & S 163 1% Burma Corp (t31c).. 4's Butler Bros (30¢)... % Cable & Wire A rcts, % Cable & Wire B rcts. 215 Cable&W pt rets 19¢. 1% Canada Marconl. % Carib Syndicate. 7% Celluloid Corp. 95 Cent&Sq J 16 Cent HG&EnS8 11%s Cent Pub Sve A al.76 7% Cent St El (k40C).... * 95 Cent St ELpf (7).... 69 Cen St El cv pf n(aé) 4% Centrifug Pipe (6uc) 1 Chaln Store Deve 5% Chain Stores Stock. . 13% Chat Ph Aln.v, (1).. o [ HZa kB T an 184% 100% Chesebrough (16%). 1% 46 444 91 93 36% 8l 32 21 557 ba% 6% 121'% 16% 6 5% ] % 46% £ 44 260 122 1% Chiet Consol Mining. 424 City Sav Bk Lid 4.19, 134 Cities Serv (g30c)... 82% CitSv P& L pf (6).. 443 Clev El Illum (1.60).. 5% Clev Tractor (80c) 144 Colon Oil. 20 Colts Pat Fire A (2 3% Col Oil & Gas vic 15% Columbla Pio (f1% 14% Col Plct vt (11%4) 1% Com & SOU WAT...... 7% Com Wat 5V (b6%). 6% Consol Aircraft. . 1 Consol Auto Merch.. 12 Coms AutoM cu pf... 2 Consol Copper. 2% Consol Dairy Prod. . 78 Cons Gas Bait (3.60). 18% Cons Gas Util A 2.20. 10 Consol Laundries(1) 3% Consol Retall Stores 450s 6% Cont Chicago Corp. . 1 39 Contl Share cv pf (6)370s 18% Cooper Bessemer (2) 3% Cord COrp.......00s 14! Corp Sec Ch (b6%).. 40 Cor & Rey pf A (6).. 114 «Cosden O11 . &% Courtaulds Ltd 45c.. 3 Creole Petroleum... % Cresson Consol (4c). 6 Crocker Wheeler. ... % Crown Cent Petrol.. & Cuban Cane pr opt w. 16 Cuneo Press (2%) % Curtiss Wright war. 4% Darby Petrolm n (1) 10% Davenport Hos (2).. 1'; Dayton Air & Eng... 29% Deere & Co (81.20).. % De Forest Radio. ... 14 Detroit Alrcraft. 114 Diamond Match new. 23% Dia Match cu pf (n).. 6 Doehler Die Casting. 11% Douglas Aircraft (1) 49 Dow Chemical (2). .. 1815 Dresser Mfg (B) (2) 2 Dubilier Cond & Rad 112 Duke Power (J15). ..430; 1 Durant Motors. 18 EastG & F Asso ast St Pow B (1) ast Util Inv (A). ducational Pic pf. ciric Corp. Slec Bond & Sh (b6). s El Bond & Sh pf (6). lec Pow A850 (1).. 104 Klec Pow Asso A (1) 16's El Pow & Lt op war. 90% El P&L 2d pf A (7).. lec Shareholdg (1). 1 Sharehold pf (a6) pire Corporation. 764 Emp G&F cu pf (7).. p Pwr pt (14.60). Emp P Ser A (a1.80) npire Steel Corp. .. iploy Reins (1%). gineers Gold. . Eureka Pipe L (4). 1% Europ Elec deb rts. . % Evans Wallow Lead. 3 Fabries Finishing % Fairchild Aviation. . 28 KFajardo Sugar 2 Federated Capi 8 Federat Met (113 10% Fiatrets (1.25). 1 Fiat Stock deb rts *ilm Inspect Mach. Flintkote Co (A). 1% Foltis Fischer Corp. 18' Ford Mot,CanA12.10. 560 6% Ford Mot France 28¢ 10% Ford Mot L.td 37%e. 13 Foremost Dairy Pi 3 Foremost Fabrics. 2 Foundation For Sns. 214 Fox Theater Cl (A) 4 Franklin Mg Co. 4 Gen Alloys (80c).. 4% General Aviation. % General Baking 2. n Baking pf (3).. 27 Gen Capita) Corp. 9% Gen E Ltd ret (500). 14% Gen Empire Cor (1), 28% Gen Firepr (123%). 37% Gen G&E cv pt B 25% Gen Thev pf w.1.(3).7516% 9 Gilbert (AC) (1).. 1 5 Gleaner C Harv new., 6 50 Glen Alden Coal (8) 10258 6% Globe Undwritrs 30c & % Gold Seal Elec pew 7 i Gold Coin (new). 2 % Golden Cente: 21 # Goldfleld Consol. 10 4% Goldman Sach TC .. 12158 3% Goth Knitback Mch. 3 20% Graymur Corp (1)... 15 185 115% GrA& PTof (7)... % 2% 4 an 4 b " 26 10% 14% 24 504 25 8 6% 56 7 % w % & "~ % 20% Grt At&Pac nv t5.25 160s 160 408 1164 31% 20% GreatLakesDD (1)s .2 214 - Mass Util Asso. Mavis Bottling McCord Rad&Mfg B. Mead Johnson (4% ). Memphis N G (170¢c) Mer Ch & S (1.60).... :grcamlle Stores(1) t & Min Inc (1.20). Met Chain Stores. Met 5 to 50c Strs pf. M1d St Pet vic A.... M1d 8t Pet vtc B.... MId West Ut (b8%).. Mid St Prod n (2).. Mid Roy ev pf (2).... Midland Utd (b6% Mining Corp of Can MoKanPL (b10%). MoKanPLvte..... Moody's 1 8 pt pf (3) Mount Prod (1.60)... Municipal Serviic Nachman Spring. 4 Nat American Co. Nat Baking pf (7) Natl Banksve (5)... Nat Bond & Sh(75¢) NatDPrpfA (7)... Nat E1 Pow A (1.80), Nat Fam 8 (b10%).. t Fam St pf (2) Nat Food Prod (A).. Nat Food Prod (B).. Nat Fuel Gas (1). t Inv at Leather. 4 t Mfgs & Stores.. at Pub Sve pf (7).. at Rubber Mach(1) Nat Sh T Sec A 350c. Nat Sugar N J (2) Nat Transit (1). ‘at Union Radlo. chel (0SCar)..... Nehi Corp (1.30) . Neisner Bros pf (7). elson(Herman) (1) evada Cal EI pf (7) Newberry (JJ) 1.10 New Brad Oil (40c) . w Jersey Zinc(t3) New Mex&Ariz Land Newmont Min (f4).. \ Y Hamburg (23%). Y Merchandise (1) N Y Pet Royalty.... N Y Steam Cpn w.il Y Tel pf (8% ) lag-Hud Pow (40c) Niag-Hud Pow A w. 4 Niag-Hud PowBw.. 4 Niagara Sh. Md(40¢) 5 iles-Bem-Pd (13).. pissing (30c). . Noma EI Corp (80¢). Noranda Mines. ..... 0 Am Aviat A war. or Am Util Sec. . or Europ Oii Corp.. or Ind Pub S pf (6). Nor St Pow A (8). Nor St Pow pf (6) N W Engineer (2) Ohio Copper. Ofistocks Ld B §0c. . Oliver Farm Eq w.L.. Outboard Mot (A). Outboard Mot (B). Overseas Secur (1). Pac G&E 1st pf (14) Pac Western Oll.... Pandem Ofl. Pantepec Oll. .. Paramount Cah Parke Davis «11.85). Patterson Sarg (2).. Pender DGr A (3%). Pender (D) Gr (B).. Pennroad Cp (20¢ Penn-Mex Fuel (3). Penn Wat & Pow (3 Peop L & P A a2.40.. Phillp Morris Ine. Philtp Morris (A) Plerce Governor. . Pilot Rad Tube (A) FPitney B P n (20c). . Pittsbgh Forging (1 Pitts Plate Gl (2) Plymouth Ofl (2). Polvmet Mfg (b4%). Pond Creck Poncha. . Powdrill&Al (14%). Prince & Whitely. ... Prince & Whitely pf. Prod Royalty (f1). Propper McCallum . Prudential Invest. % Pub Ut Hold (50c).. Public Utii Hold war 72 Pub Ut Hold xw 50c. 1 Puget S P & Lt pt(6) 208 Pyrene Mfg (80¢)... Radio Products (2) R R Sh Corp (26c). RR& Ut Inv (A). Rainbow Lum Pr B, Raytheon Mfg Red Bank. Reiter-Fosger. Rellance Init (A). Rellance Manag. Repetti Candy Reybarn Co. Reynolds Invest Rich Rad cum pf. Roan Antelope Min Rock Lt & P (90¢). Roosevelt Field Inc. Rossia Int'Corp. SafeCar H& L (8). St Regls Paper (1).. Salt Creek Con (40c) Salt Creek Prod (2).. BAXOLCO..ursuiseren Schift (The) Co (2) Schuite Un 5¢-31 St, Schulte Ge-$1 St pf. . Seaboard Utll (50¢). Sec Corp Gen 40c) 81 Ser Lock & H (50¢). 9% Selby Shoe (1.40) 2 Selected Industries. 44% Selected Indus cfs. 42% Selected Indus pr pf. % Sentry Safety Cont. 2% Shattuck Den Min 5% Shenandoah Corp 80 Shenan Corp pf (a3). 19 68 . Sherwin Will(t43#). 1 “uunnn—-—wu»— onrdmaBemmnd 2a 83 &% o s .8 @ b3 » = TR AR T NN T O NN o 8 » ~Baomse = e £ 144 o ewe ol =2l RO~ E R an A - e Ranal Wrigley (Wm) (4). Yale & Towne (2)... Yellow Truck. . Youngs Spring (3). Young Sh & Tube(5) Zenith Radlo. 81 65 77 26 82% 84 47 19 150% 69'% lompSae 67 26 9 4% 22 70% in_stock. Dividend rates as given in the above table are the annual cash payments based on the Iatest quarterly or half yearly declarations. sUnit of trading less than 100 shares Payable in scrip. year—no regular rate. b e Pyable in cash or stock. h Plus 2% in stock. J Plus 8% in stock. k Plus 3% 1% in stock. n Plus 5% in stock. T Plus 14% n stock. +Partly extra, lus Plus 9% in stock. s Fatd this Payable in stock. d Payablo when earned. 1 Plus 10% in stock. g Plus 6% in stock in stock. m Plug © Plus $1.00 in preferréd stock. BETTER BUSINESS EENBY RAIL HEAD W. B. Storey Looks for Im- proved Traffic—Expects Slow Recovery. BY W. B. STOREY. (President, the Atchison, Topeka and anta Fe Railway System.) By the Associated Press. CHICAGO, December 29.—The terri- tory served by the Santa Fe has ex- perienced the same vicissitudes that have befallen our country generally this year. The drought in the Summer cur- tailed its crops, but much less than in territory farther East. Wheat was made before the drought and. turned out well, cotton fair, corn from 25 per cent to 50 per cent off, and other crops fair; but with ‘the low prices the monetary return has been greatly reduced. Only citrus fruits brought good prices and with rather small crops produced an excellent re- turn.. Oil, mining, lumber, building. manu- facturing and industry generaily have been depressed, and our traffic has suffered accordingly. Roughly it has run about 13.5 per cent behind last year, which it should be remembered was the greatest in our ilé.;tsflry, but only 6 per cent behind In looking forward we find that Win- ter wheat has had favorable condi- tions up to the presgnt time and citrus fruit gives promise of a much heavier crop than this past year. It should be remembered, however, that it is still too early to make any definite forecast as to either of these crops. Commodity prices seem thoroughly well stabllized and any strengthening of them will be a favorable sign. The Santa Fe is engaged in build- ing 350 miles of new lines in Texas, Oklahoma, Colorado and New Mexico, on which we shall do some $5,000,000 of work this coming year. We have or- dered over $6,000,000 of new equip- ment. We feel the coming year will bring improved business conditions, but that recovery will be slow. W. B. Storey. NEW YORK, December 29 Over-the-counter market: BANKS. @— America . Bank of U8 Units Chase Chat Phenix.. City .. PFifth " Avenie. First National N '¥.. Harriman Manhattan' " Co. .. Peoples’ National TRUST COMPANIES, Bankers ... 3 1024 Broadway Plaza 17 Cent Hanov 214 Chelsea Bk & Tt : 7 Chem BK & Tr.. 43 Corn Exchange. 104 County Guaranty Trving i Manufaciurer New York. : 5 United States : Westchester Title & Tr.. 350 FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) 15 London, pound. ; $4.8665 4.8 Berlin, mark. . 13 82c 3 11% | Zurich, 19.42'2¢ " drachma. . 1407 6 Budapest, pengo. 3 . 11.22¢ . 14 carenhnlen. crown. 26.75%2¢ 2% | O8 2675150 26.827%c 14 24| Scarcity of silent films is compelling 1% fit of sailors. Because of the greater Nomina! gold Selling checks s Vi tdny: Paris. franc . 3.91%¢c 27 | Brussels. belga 3.91¢ 85% | Rome." 1lra 336 tranc 19.3¢ % | fuaria, bescta ... 1036 5% | Vienna. schilling. X 17400 17% | Grasue. crown (nam.j 29640 . 2oty - o Crows... 3 | Stockholm, crown. e Talkies for British Navy. 443 | the British admiralty to consider plac- 4234 | ing the talkies on warships for the bene- 3 cost of talkies a “chain” of battleship 3 theaters may be established to reduce 308 the rental charges, The best types of land sought, 60. fims are | Brokers’ Comment NEW YORK, December 29.—Some | brokerage house advices to clients today express the opinton thata technical rally in the stock market will be seen before the year runs out. From the longer term’ viewpoint, the importance of the bond market’s behavior in the next few weeks is stressed. Comments include: Peter P. McDermott & Co.—"“Little can be found of an encouraging nature from reports as to current operations in the basic industries. Excluding the building industry, however, these opera- tions are now near the 'seasonal low point and greater activities from this standpoint are expected to develop dur- ing the coming month. In anticipation of this, we believe greater resistance will be shown to security price reces- sions.” Redmond & Co—“We believe the market is entitled to at least a technical rally before the year end unless some unexpectedly adverse news _develops within the next day or two. It is also logical to expect & good reinvestment demand this week.” Jackson Bros., Boesel & Co.: “Action of the bond market, following last week’s reduction in the New York Re- serve Bank's rediscount rate to the record low of 2 per cent, in our opin- fon, will carry much greater significance during the next few weeks than current fluctuations of the stock market. Al- though leading corporations have come through the business depression strongly fortified with cash resources, it is to be assumed that in the first half of 1931 there will be a heavy volume of new finarcing in the carrying out of expan- sion programs. Hornblower & Weeks: “We feel that in spite of the speculative pressure on the post-holiday market little real head- way will prove to have been made on the downside. The failure of Satur- day’s market to develop volume con- look for a turn about some time this at this time cannot be expected to be as abrupt as was the turn about De- cember 17; yet we feel that trading advantages will be gained by those this time.” Otis & Co.: “The chances are that the market will be subjected to further test during the early weeks of next month, We belive it is conservative policy to wait until this test has been made.” Public Utilities BY GEORGE T. HUGHES, North American Company. (This is _the sixteenth article of a se- ries on the subject of public utilities, covering the principal operating and holding companies, giving their history, field of operations and an analysis of the capital structure. Mr. Hughes Wwill discuss bonds as well as stocks, but will present the facts without any attempt to_tecommend purchase or sale of spe- cific securities.) One of the oldest of public utility {holding companies, having been incor- | porated in 1890, North American con- trols electric light and power subsid- iarfes in Wisconsin and Michigan, in Ohio, around St. Louis and in the Dis- trict of Columbia. It is also a large stockholder in Pacific Gas & Electric, which company will be treated later in this series. Presumably, North Ameri- can has been affected by the current | industrial depression, but: electric out- put for the 12 months ending June 30 last was up from the corresponding pe- riod in the year prior and over the longer term the record is one of con- sistent growth. Subsidiaries have a large funded debt amounting to nearly $390,000,000 and preferred stocks of over $170,000,000, interest and dividends on which come ahead of the dividends of the holding company shares. ‘There are two issues of North Ameri- can stock, a $50 par 6 per cent cumu- lative preferred outstanding to the amount of $30,333,900 and a no-par common outstanding to the amount of 6,185,414 shares. The regular rate has been paid on the preferred since issue firms this point of view, and we would | week. Of course, a turn in the market | . willing to buy high-grade stocks at| nine years ago and it ranks as a con- servative investment. Callable at $55 per share, possibility of market price appreciation is limited, but the yield of around 52 per cent as the market is generous, considering the high de- gree of safety. In 1920 the sum of £4748 a share was earned on the pre- ferred, against the dividend require- ment of $3 a share and fixed charges dnd preferred dividends taken together were covered 1.95 times. Earnings avatlable for the common had a steady upward trend since 1925, net per share last year being $4.82, which the stock market has al- ways capitalized liberally, This is part- Iy because of the record of expansion rtly because of the common dive bolicy, which is to Ray in common stock, conserving cash for corporation activities. The company arranges to sell stock dividends at the market and remit the proceeds to such shareholders as re- quest it. This gives a high yield as long as the market price of the common stock is stable and a higher yield if that market price is advancing, but the reverse is true when the market is de- clining, all of which the buyer should take into consideration. INCOME TAX SELLING NEARS FINAL STAGE Recent Pressure on Market Ex- pected to End in Few Day Special Dispatéh to The Star, NEW YORK, December 29.—Holders of stocks who have until now delayed making sales in order to establish in- come tax losses have flgured promi- nently in the stock market operations of the last few days and were an in- fluence again today. There is only one more session in which such transactions can be negotiated in the regular way. Those on Wednesday must be for cash. ‘There should be considerable relief from this pressure when business is re- sumed on Friday, at which time it will be possible to determine somewhat the relation of this kind of selling to real liquidation during the past few months. The uncovered position of many share- holders, both with respect to the stocks sold to establish tax losses and to others which they now regard as hav- ing better prospects than those dis- posed of, is one of the potential bull prospects for the market situation in the early part of the new year. fioaadh ittt BANK CLEARINGS. clearings . 125,000,000 170,000,000 N. Y. Fed. Reserve A troop of deaf and dumb Boy Scouts NEW YORK, December 29 (Special). N. Y. Bank Today. A vear ago. . $604,000,000 . $665,000,000 Y. Bank bal- ances bank credits 108,000,000 141,000,000 e has been organized in Edinburgh, Scot- land. the weakness in Liverpool and Buenos Aires. December old opened 767, March old, 793 to 80; new, 803;; May old, 81 to 81l new, 814, to 81 July, 63 to 627%. After the first half hour December old was 763;, March old, 797 new 803g; May old, 81%; new, 811% to 81%; July, 63'%, Corn was strong on buying based on disappeinting receipts. . December new. opened 63!, to 63!, March old, 663: May old, 6814 to 68'2; new. 691 to 6915, After the first half hour De- cember new was 63%, March old, 6754; May old, 6833; new, 69'5. Oats were affected by the action of corn. December old opened 31', March old, 317% to 32; May old, 32% to 32.. After the first half hour De- cember old was 31, March old, 313; May old. 3214. Provisions were unchanged. PO 23 NEW YORK COTTON NEW YORK, December 29 (Special). —Opening cotton prices today were 5 to 8 points lower, reflecting weakness in other commodity markets and the open~ ing drop in stocks. Southern houses of- fered all contracts. Trade buyers were still absent from the market and, in ad- dition, there were some overseas offer~ ings in near months. Opening prices were: January, old, 957, off 8; January, new, 9.60, off 5; March, 9.82, off 7; May, 10.08, off 7; J;‘Yé 10.35, off 5, and October, 10.53, off 6. NEW CONSTRUCTION. WEW YORK, December 29 (#).—Con~ tracts awarded for new construction of all types in the metropolitan area of New York from December 20 through December 26 totaled $8,634,200, F. W. Dodge Corporation reports. This brought the total for December to December 26 to $52,614,300, a daily rate of $2.391.600 per business day, against $2.465,300 daily in November and $4,243,600 daily in December last year. CHECK TOTAL DROPS. By the Associated Press. Checks cashed on individual accounts in leading centers of the Federal Re- serve system showed a decrease of $1,372,032,000 for the week ended De~ cember 24 as eompared with the pre- vious week. The totals, for comparable periods, follow, as calculated by the Federal Reserve Board: Week ended December 24, $12,106,- 598,000. Previous week, $13,478,621,000. Same week last year, $13,043,078,000. SILVER QUOTATIONS. NEW YORK, December 29 (#).—Bar silver, 3 S R e e e 4 Lazing Money re-investments, the funds from RESTING lazily while you consider securities maturing in January will be forced to shirk their duty—to lose_for you the benefit of interest- bearing days—unless you consider now re-investments which will give you the assured safety and unfailing returns you desire. Our organization is so planned that we can keep your money invested and rée- invested in First Mortgages on ime proved Washington real estate, so that your principal is earning for you with- out intermission. These Notes may be had in convenient denominations of $100 and upward and yield the attractive return”of 6 per cent. Ask for List of January Offerings SWARTZELL, RHEEM & HENSEY Co. MORTGAGE BANKERS 727 15 STREET N.W. / WASHINGTON D.C.