Evening Star Newspaper, January 4, 1931, Page 62

FINANCIA UPTURN IN STOCK MARKET RESUMED & fifiil Shares Prominent in Advance—Short Covering * Believed Extensive. BY CLAUDE A. JAGGER, Associatetl Press Pinancial Editor. WEW YORK, January 3.—' stock replenishment, and t.h.t in distributing ehlnnels low inventories and restricted production are imparting & firm under- tone to fabric prices. Motor Industry. The motor industry is stepping up tions next week, with resumption activity at the Ford plants, and the ling of more workers by some of divisions. A survey of the labor situation by Standard Sta- tistics says the bottom of the decline is tly bel reached, and that both seasonal and cyclical trends will ‘The et finished the week still under|Make themselves felt shortly, restoring influence «f New Year cheer today. . ~Share prices were helped by the m submission of the four-party railway consolidation plan to the Interstate Commerce Commission, by the improved tone in commodities, and by the pick-up in activity reported at_automobile and steel plants. Pivotal shares gained only moderately, few gains exceeding a point or two, but seme of the wlame issues rushed ‘i sharply, and trading was fairly activi the turnover for the short session ag- gregating 1,500,000. shares. Last-min. ute selling such as fre a6 the end of the weel Gains in Rail Group. In the rails, Erie 8, and Baitimore & and West V. shot up 15 ts. ‘The market in that issue, however, Lackawanna, which is al- located to the New York Central, gained 2 points. Several Western and South- em rails were also -strong. St. Louis Southwestern shot up nearly 6 points, Great Northern and Atlantic Coast Line gained 2 or is thin. and Illinois Central, more. BSuch issues as United States Steel, blic Steel common, Union Car- ‘Texas Corporation, Standards of New York & New Jersey, International ‘Telephone, National Biscuit, Montgom- ery Ward, Paramount and Warner Bros. gained & point or more. Issues American Telephone, Republic %fl!fl, Johns Manville, " ‘Westérn Union gained 5. The vigor of the advance is ascribed in part to its technical nature. There Mg Ehore” osiions - which, “prens ort positions whicl taking was deferred until the turn of the year, for tax reasons. ~The week end trade and business were generally of a cheerful or, of a character to help stocks. ith freight car loadings, building con- tracts, electric power production, steel production and bank clearings showing somewhat less than the expected sea- slump, resistance to depression seemed to developing, although the fact that the year end was approached from ln nbnurmllly low level may have been factor th limiting the usual| tcuna Steel Mill Operations. Expectations that the turn of the | ye-r would bring improvement in steel operations seem to be bearing | fnllt Meer reaching its lowest levels during the Christmas week, ingot pro- duction in the Youngstown area are expected to increass next week for the second successive week. Schedules indicate aggregate production in that STOCK AND BOND By the Associated Press. SATURDAY, uently appears was_lacking, and final prices were around the day’s ied more than hio 2. Both will be aided materially by unification of their systems, as proposed. Pittsburgh ia, which is to be controlled by the four systems jointly, Steel and Stone & a more nearly normal condition by the end of the first half of the new year. BANKING SITUATION | Deposits Fairly Comparable to Those of Same Period of Last Year. Special Dispatch to The Star. KANBAS CITY, M Starting on the new the_interior is worrying less -bout its troubles and searching out its blessings, with a view to meeting the events of the mext few months, The round-up of the holiday trade shows a nmormal activity in units but. a less dollar value, partly due, of course, to the lower price level of com- modities. Statements of State banks in Kansas this week showed a maintenance of deposits fairly comparable with a year ago, though well below the normal peak, However, demands for loans of high quality are moderate and collections less delayed than in early Autumn. Primarily the task of the, present is readjustment of the business interests to the reduced income of the farm country. This is already under way and banks are helping by paring down ex- nsive undertakings to reasonable imits. While there is no disposition to stag- nate, the interior is trying to base its activities on sound finance rather than on visions of easy credit. Thus far the Southwest has had a most favorable Winter, with mild days and consequent assistance to producers and an encouragement as to the wheat crop, which is coming along generally in good condition. Considerably less confidence in higher wheat prices is expressed by the growers, and it is likely that the grain in storage will be grad- ually marketed, producers taking their losses and starting anew. 'I’hul will release considerable credit now tied up in granaries and elevators and re- lieve the strain on local banks. (Copyright, 1981.) 'EXTRA DIVIDEND DECLARED. NEW YORK, January 3 (#).—Di- rectors of the Hershey Chocolate Co. | have declared an extra dividend of $1 | on the convertible preferred stock, in | addition to the regular quarterly pay- ments of $1.25 on the common and the same on the convertible preferred. - Goteborg, Bw:den, il to have & new $1,000,000 city theal AVERAGES JANUARY 3. IN MIDWEST SOUND Hich. Low. Averageprice of 50 stocks. 169.13 168.60 Same period a veas ago.. eetenae.s Total sales. Same veriod WEEK ENDING JANUARY 3, 1931, Last Week. Jear to Data. High 24966 142.75 209.88 202.95 Year t Date 3,575,950 5,006,070 vast Week 11,731,215 8,911,280 ——1950— High Low. e 14 80% Adams Expr's pf (5) 21 24 Addressograph (1%). 21 10 87 6 5! 36 37 40 170 120 1 41 2% 28% % Adams Express (1.60).. 18% Adams Miilis (2). .. % Advance Rumley... Advance Rumley pf. % Ahumada Lead.. . % Afr Reduction (1434) . % Alrway Elec Ap (80¢)... % Allegheny Corp.... % Alleg Corp $30 ww 5%... % Alleg Cp w 340 war(5%) Alleghany Steel (12.80). % Allied Chem & Dye (n6). % Allied Ch & 2 gs222 Amal Leather pf 16% Amerada Corp ¢2) Am Brown Bov El 156! 104% Am Can (15) 150% 1404 Am Can pf (7 24% Am Car & Fdy 70 Am Car & Fdry pf 27 AmChain (3). 75% Am Chain pf (7 35 Am Chicle (13). 15% Am Colortype (2.40) 9 Am Conhn Aleohol 8 Am Encaustic (1). 17 25 78 Amé&Foreign Pwr ). 84 Am& Forn Pwrpf (7).. 63% Am & Forn Power 2d pf. 5% Am Hawaljan 8 S. 1% Am Hide & Leather. 24% AmIce (14).... 16 Am International (2). Am La Fr & Foam pf. 18% Am Locomotive (2). 68% Am Locomotive pf (7) 29% Am Mach & Fy (11.65).. 8 Am Machine & Metals 18% Am Metals&Min (1) 80 Am Metal pf (8).... 20 Am Natural Gaspf(7).. 36% Am Power & Light (r1). 90 Am Pwr & Lt pf (6) 74% AmP&LDPLA (3%).. 74% Am Po & Lt pf A sta(b). 3 ¥ P44++4+444 4+ L4+ L+ +44 P+ o P4+ L4ttt 44444+ 4 PrsrPPPeresd “eFafs ! *F Bas" 15 Am Rad&Std San(1). 5% Am Republics 524 Am Safety Razor (5. 5 Am Seating... % Am Ship & Commercs. .. 35 Am Shipbuilding (5). 37% Am Smelt & Ref 14) 93% Am Smtg&Ref 2d pt(l) . 35% Am Snuft (13%) 2 Am Solv Che 5% Am Solv & Chem pf..... T4 23}y Am Steel Foundries 110 Am Stl Foundries pf (1) !]0‘« 36% Am Stores (12%). 39% Am Sugar 95 Am Typefounders ( 108% Am Typefounders pf (7) 106 4T% Am Water Wks u)‘ 98 AmW W&RI1s 5% Am Woolen. 15% Am Woolen pf 1% Am Writ Papel 10 Am Writing Paper pi 3% Am Zinc L&S 26% Am Zinc & Lead pf... 26 Anaconda Copper (2 19 Anaconda W &C (1) 24 Anchor Cap (2.40) 98 Anchor Cap v pf ( 10% Andes Copper (1). 13% Archer-Dan-Mid (2) 80 Artloom pf (7) 20 Asso: App Ind 19 Assoc DG (23%) 85 Asso Dry Gds 1st pf ). 44% 93% 38 . 2% (3). 26% % R I o o o I [ I o O e [ o S o I 6) D. C, JANUARY <. Celotex Co. . Celotex voting ctf: Celotex pf..... Cent Aguirre Asso(1%). Cent RR of N J(112). Century Ribbon Mill Cent Rib Mills pf (7). Cerro de Pasco (4). Certain-teed Prod. . Certain-teed Prod pf. Checker Cab Mfg (1.80.. Ches & Ohio (2%) . Chesapeake Corp (3). Chicago & Alton. . Chicago & Alton pf. Chicago Great Western. Chicago Great Wn pf.... Chicago Mil & St Paul,.. Chicago Mil & St Paul pf Chi & Northwn (4)... Chi & Northwn pf(7). Chicago Pneu Tool. .. Chiel Childs Co (2.40).. Chile Copper (2). Chrysler Corp (1) City Ice & Fuel p! City Stores (50c) . Clark Equipment Cluett Peabody (3). Coca-Cola (8) Col Gas & Elec (2). Col Gas & Elec pf A Columbia Graphophon! Columblan Carb (16). Comm Credit (2). Comm Credit A (3). Com Credit pf (1% ) Com Credit 1st pf(63%).. Com Cred 1st ex w 614 Com Credit pf B (2).. Comm Inv Trust (g Comm Inv Tr war sta. .. Com Inv Trust pf (7)... Comm Inv Tr ev pf (e6). Comm Solvents (31).... Comwlth & Southn (60c) Comm & Southn pt (6).. Conde Nast Pub (2) Congoleum-Nairn. Congress Clgars (4) Consol Cigar (5) , . Consol Clgars pr pf (8% ) Consol Cgr pr pf xw 634 . Consol Cigars pf (7).... Consol Film Ind (2) Consol Film Ind pf (2).. Consol Gas of NY (4)... Consol Gas of NY pf (§) Consol R R, Cuba pf(6). Consol Textile. .. . Container Corp A(1.20), Container Corp. B Contl Baking, A. Contl Baking, B Contl Baking pf (8) Contl Can (2%) Contl Diamond Fibre(1). Contl Insurance (2.40).. Continental Motors Contl Oil of Del. . Contl Shares (1), Corn Prod Ret (14%) Corn Products pf (7)... Coty. Inec. A Cream of Wheat (72%) Crosley Radio. . Crown Cork & 8 (13.40). Crown Cork&s pf(2.70). Curtis Pubishing (t7).. Curtis Publsihg pf (7).. cuuor—uum‘r (3%) Davison Chemical. . DeBeers Mines (al44) Debenhams (70¢). . Devoe & Ray(1.20)) . Diamond Match. . Diamond Match pf. Dome Mines (1).". Dominion Stores ($1.20) Drug Ing (4). Dunhill Internatl.. .. Duplan Silk (1) Duplan Silk pf (8)... 14% 4% 6 14% bl B I R o B e e e e AN S R ‘44t +++4) #T P ERRECEBe e T s Rurs R FRRC N2y FoE"F 2R R N R N A + 4+t E Lt AR+ S sx BOCE"EVE. R ] PR - 25 F 2 fese e EEE F s FURrefFa"Fs"Fs ExasdsF ¥ - I H .,1—PART SIX. Eq Glllette Safety Ras (4). Gillette Saf Ras pt (§).. (). Grand Silver Strs (h1).. Grand Union..... Grand Unfon pf (3) Granite Cit; Grant (W Great Nor Ore(12%). Great Western Sugar Grif States Steel. . Haokensack pf A (1%). Hahn Dept Stores. EHahn Dept Strs pf(6%). Hall (W F) Print Co (2) Hanna pt (new) (7).... Harb Wkr Refrac (3% Hercules Powder pf(1) Hershey Choe (5).. flirlhv Choe pt(t5) ) & Co Hollander A & Son. Hoydaille Hershey..... Household Finan pf (4). Houston Ofl. . e Houston O1l (new) Howe Sound (14%).. Hudson & Man Ry (3.50) Hudson Motor (3)...... Hupp Motors. ... linols Central (7). Inti Carriots, 1td (4005, [nt] Coment €4):....... Int] Combustion Eng. .. Inter Combust Engrs pf Int Combust pf ctfs. intl Hydro Eleo. A (ed). Intl Mateh pf (4). . Intl Mer Marine ( Intl Paper & Pwr Intl Paper & Power. B.. Iatl Paper & Power C... Int] Papr&Power pf (7). Intl Printing Ink. . Intl Printing ink pf(8). Int Rys. Cent Am p2(8). Intl R.R. of Cen. Am. ef In interst Dept ltn pL D). Inter Dept S pf x-w (7). Intertype Corp (2). Investors Equity. Jewel Tea (15 DID Kayser Julius (2%). Kelly Springfleld. . Kelly Springfield ¢% pt. + - & PR TR e s P T TR 4+ ) +4+ 4+ Fsx¥ = L T = T L I R e e e = B e ] L ..... = 2 o8 + +1 - “exsFrRefs 28 T FEESF £Essr 2 2" Fx - _—a * R e el el o~ 27 2522025008 F rrssene” "Hes #8 FEFs" T s Ex "S5 FINANCIAL, ile 6% Low. _ Stesk and dividend. 100% Mil Bl Ry & Lt pf(§: 38 Min Hon'w Reg (4 34 Minn. MolPwr imp. “ Minn, Mol Pr Im pf(l‘) K Minn & Sthouls. ... W Minn StP&HS MinnStP&SS Ill“l. Mo Kan & Tex (3)....n. Mo Kan & Texas pf (1).. Missour? Pacife. . . Missour! Pacific pt (8).. Mohawk Carpet... Monsanto Chem ll’l‘). Motor Meter Gauge & Ei Motor Produets (2).... Wheel Munsingwear (14). Murray Corp (b3 % stk). Myer (F E) & Broa (2). Nash Motors (4).. Nash Ch..t & StL(5). Nat Acme (80c). Nat Alr Transport. Natl Bellas Hess. ...... Nat Bellas Hess of (7) Nat Biscuit (13.30) Nat Biscuit of (7). Natl Dent St 1st pf (7). Nat Dist Prod (2)... Nat Enam & Stamping. National Lead (18) o it Power & Light (1). % Natl Radlator....... % Natl R’lflluldl(.. Nltl Steel (2). pply (6). Nn lnvnly ot (T Natl Surety (5) Norfolk&Westera(112). Norfolk & West pf (4). . North Am Aviation. North Amer (b10%etk) . North Ameriean pt (3). North Am Edison pf (6) . % :oflh Ger H'y‘ (l-ll). # Norwalk '«l‘!n. M Nunnaily Company. Ohioe Oil Co (2) OliverFarm Eqt Oliver Farm Eq pr pf. Oliver Farm Equip ¢ Vmnibus Corp. . .. Omnibus Corp of A (8). Oppenheir Coliins (3). Orpheum Cir pt (8). Otis Elsvator.n (3%). Otis Steel. ... Otis Steel prior pt (1). Outlet Co (4).... Owens 11l Glass (l). . Pacific Coast 15t p Pacific Gas & Elec g‘n.:i"" ('71%) enney 1] 8) (3) ) Betroleum Corp (1%). Phelps Dodge (2). I'biladelpnia Co §% 13). Phila & Rending C & 1. Philip Morris&Co(1). . i -3 #F. E N S P 88588s & F x:gt L3 ik taetl 22332 ++ FIUEI444 4+ 111414444144+ 4 ++ 4441 14442444+ + +4 i+ o+ 44+ 1444 43454440 (4444 +4+ 44+ H 144+ * Fiait” et g Sl A 9 2 EERFE PP R 3 T8 M SRR TEREY serP srsaeile FET O L7878 (R L L - P . e “xed ¥ SeetsigfRgToo By -Fugeyaluty FEEF EF 2 F¥ T+ $1%+ Anso Dry Gds 24 pf 1) Dupont de Nemours (6). 841 91 Kelly Springfield 8% pf. - Phillips-Jones pf (1), Our loadings week ending December 20 Crude oil production (barrels). N. Y. 28 Se= aduaual Year ago. 83,424,000 69.6% $510,587 | 2,857,051 632,421 10,508,715 842,775 | 2,607,700 | 13.478,510 $39,735,500 | 1,765,588,000 1,649,920,000 30 2424 168 | 108% 100 Assoctated Ol (2)...... Atch Top & 8 Fe (10). Ateh Top & S Fe pf (5). HOW IS BUSINESS? Shewing Current Business Activity Compared With Same Week Last Year. GENERAL BUSINESS ACTIVITX for the country indicated by bank debits eurside New Work City. Shaded areas show weeks of activity above the corresponding weeks of the previous year. Biack areas indicate declines from same weeks 13 months earler. ACTIVITY BY flD‘.AI. RESERVE I)l!’l‘llc‘l‘l tions 122% B4% 110% 108 50% Bangor & Aroos (334).° 116% 106% Bangor & Aroos pf (7).. 841y 30% 8% 81% 95% Atl Coast Line (110).... 33 Atl Gulf & West Ind (3). 16% Atlantic Refining (12) Atlas Powder (4). 214 Atlas Tack..... 60% Auburn Automobile lll) 113‘4 16 Austin Nichols pr A (3). % Auto Sal 3 Autosales Corp p 2% Aviation Corp of B 19% Baldwin Locome (1.76) B4 556% Balto & Obto (7). 70% Baltimore & Ohlo pi Bamberger bf (§%). ... 8 Barker Bros (2) .. 58 Barker Bros pf (6% 8% Barnsdsll A (2) 89 Bayuk Cigars 1st pf Beatrice Creamery (4).. 46% Beech: 214 Belding-Hemingway 764 Belg Nat Ry pt pE(5.51) 14% Bendix Aviation (1) 59% Bon Ami (A) (1) 1 Booth Fisherl 5% Booth Fis 60% Borden Jo (k3 15 Borg, Warner (1) 44 Boston & Maine (4) % Botany Con Mills A 124 Briges Mfg (11.62%) 16% Brigks &Stretton 12) 1% Brockway M T. . 13 Brockway Mot Tr pf. 55% Bklyn-Man Tr (4). 83 Bhly-Man Tr pf (6) 113% Brown Shoe pf (7). 10 Bruns-Balk-Col. 5% Brunswick Ter&Ry See. 11% Bueyrus Brie (1)....... 21 Bueyrus Eriecv (24).. 107% Bueyrus Erie of (1).... Budd (E G) Mfg. $ada Wheel 1 1) % Bullard Co B Bulova Wate 25% Burns Bros. A N 3 Burns Bros B . 71% Burns Bros pf (1 18% Burroughs Add Mch(l). 21% Bush Terminal 97 Busb Terminal 1% Butte Copper & Zine. % Butte & Superior 10 Butterick 33% Byers (A M). 41% California Paecking (4). . 35% Can Pacific new (2%). 16% Cannon Mills +160). 29% Capital Admin 78% 2ar Clin & Ohio 14) 92 Car Clinch&Onio sta(s)’ Nut Packing (3). Bush Term Bldg of (1). 20 674 8% 2% T 19% dH+H4 P T N S B R A | I+ +4+++4+1 B e L e @i worempo * FF - F EFREFEFF BN @ & du Pont de Nem pf (6). . Duanesne Lt 18t pf 5). Durharm Hoslery pf. Eastern Rolling Mills Kastman Kodak (18)... Eastman Kodak pf (6).. Eaton Axle & Sp (1.60).. Eitington-Schild. .. Electrie Storage Bat(5). Emmerson-Br'ham, A Emmerson-Brham, B. Endicott-Johnson (6). .. Endicott-Johnson pf (7) Eng Public Serv (2.40).. Eng Public Serv pf (5).. ©ng Pub Serv pf(5%).. Equit Office Bldg (2%). trie Rallroad E£rie Rallroad 1 Grie R R 24 b (4 Eureka Vacuum Cleaner Evans Auto Loading. . Exchange Buffet (1%).. Fairbanks Co pf. ... Fairbanks Morse (1.60). Fairbanks Motse pf (7). Fash Park Asso. ... Fid Phen Fire Ins (2.60) Fifth Ave Bui Fillue's Sons pf (8%).. Firestone Tir & Rub (l) Firestone T & R pf(6). First Natl Stores (2 u) Fisk Rubber. Fisk Rubber 18t pf. . Fisk Rubber 1st pt ev Florsheim 8hoe A (3) Follansbe Bros (1) Foster Wheeler (2).. Foundation Company... Fuller Co 24 pf(t' Gabrie! Co (A).. (samewell Co (5) Garaner Motor Gen Amer Investors. Gen Am Inv pf ww(8).. Gen Am Tank Car +34). Gen Asphalt (3). ‘Gen Baking pf (8). Gen Bronze Gen Cabl Gen Cable A. 120 120 101%x101% 23 23 tid4+++ + 1 +4+4+4+ ++4+ Fsx “FFers® wxfs¥e ¥ 28287 R 41 R L e e L ] W monon + Fldtdt+F+t e IV e FFE® "Ere E3 FEOFESE o ¥ Kelsey Hayes Wh (3).. Kennegott Covp.r(l) e Kimberly-Clark(13). Kreuger & Toll (1.60). Kroger Groc & Bak (1) Lambert Ce (8). Lane Bryant (2). Lee Rubber & Tir Lehigh Port Cement Yy Lehigh Port Cm pf (7). Lehigh Valley Coal Co Lehigh Val Coal pt (3).. Lehigh Valley(t434)... Lehman Corp (3) Lehn & Fink (3). 1R Liggett & Myers B (15). Liggett & Myera'pf (7). Lima Locomotive. Loew's Inc pf (§%) Loew’s Ine .‘l' l!‘). Lott Long-Bell RS CIA Loose-Wiles Bis(12.90). Loose- Wiles 1st pt (1) Lorillard Co. Lorrillard pt (1) Loulsiana Ol Rrefll Louisiana Oll R pl‘{l%). Louis Gas & K1 A ¢ Louisville & Nash lll. McLellan Stores. MeLellan xio1es of Maek Trucks (4) Macy & Co (ntd) BT T 44+t I+4 44+t -44+ 1144 4 +HHVETES) s;’i"si&*i:?i:?zi=;E=é"'=s;§=§§¥: P st el +4+1 010 Sttt o LA £ [eyeyeyers * FREEE & © EEE FEF Pra®E"Rs Felfsasit” T =3 #E¥ Phillips Petroim n2). . Phoenix Hoslery pf (7)., Pierce-Arrow A (2). Pierce-Arrow pf (6) Pleres O1l ... . Pterce Ot pt. Plerce Petrolm (10c) Pillsbury Flour (2 Pittsburgh United Corp. Pittsbgh Unit Cp pt Pitts & West Va gar Punta Alegre Sugar Pure Oil. . Pure Ol pf ( Purity lll.'lll « tadio Orp ofAm pE(E4) : Radlo Crp ofAm pf B(5) tadio-Keith Orph (A).. Real 8ilk Hosiery(3). Real 8i1k Hoslery pfll)- Remington Rand (1.60) Rem Rand mnm . Rem Rand 2d pf Republic Steel pf. Revere Copper & Bra: Reynol Reynol Reynolds Tobn Reynolds Tobacco B (ll Richfleld Oil. . Rio Grande Of1 Ritter Dent Mfg J'I 27 82 H 2a585 ¥ e b + ;5::,253‘-‘. =§’ b e I = S i+ ittt dtttbt it + +4+ bbbt 44+ n;:s;;:: g:;‘.asi +hddtdd AL A ozpgee, * e ey b T i s;:sg&;;c: BgjEagta 13 » # 4+ it bRl bt e+ ;S;S FoRET 2R WER BECEETE Bt RaPNRs et e Sekd Foas #35se3s% § o 25 = # 2"+ %2 -