Evening Star Newspaper, January 7, 1931, Page 15

FINANCIAL Frading More Active, but List| " ~Shows Irregular Tone. Coppers Gain. BY JOHN A. CRONE. * Bpecial Dispatch to The Star. * 'NEW' YORK, January 7.—The curb “‘excHarige Picked up speed today as the ‘wesslon progressed, but price trends ‘were irregular, with the greatest show of strength in the active issues. Electric Bond & Share, after gain- ing nearly a point, eased slightly. Cities Service maintained a fractional ‘'gain throughout the first few hours. United Light & Power A, Consolidated Gas_of Baltimore and American Gas & Electric were strong during this period. Public utilities, coppers and a mis- cellaneous group of industrials, lm.‘lud- and radio shares, compared with 220,000 Tuesday. The better feeling in London was mirrored here in international issues, uficla‘lly mine shares. oranda Mines, which voluntarily re- stricted copper output to aid in the stabilization plan, was given a vigorous twirl today. From time to time Wall Street has heard that the company is maintaining a steady gold output. Proposed reduction of the stated par value of Sisto Financial Corporation brought about a 2-point decline in that stock. National Bond & Share was up more than a point. Chatham-Phenix Allied, benefitted from the strength in bank stock and trust shares. Buying of preferred stock centered largely around the utility list, where America__Superpower first _preferred was up 3%, New York Telephone pre- ferred up 1% and Cities Service pre- ferred up 2%. — CHICAGO LIVE STOCK MARKET CHICAGO, January 7 (#).—(United States Department of Agriculture).— Hogs, 28,000, including 7,000 direct; steady to strong; 5al0 higher on heavy weights; packing sows steady: top, 8.20; bulk 130-200 pounds, 8.00a8.15; 210-300 ds, 7.6028.00; pigs, 7.75a8.10; pack- sows, 6.35a6.75; light light, good -and. choice, 140-160 poundx. 8.00a8.20; , 8.00a8.20; 67'55{))3“"“ ds, 6.2526.75; slaugh. « good, 275. poun slaugh- ter - pigs, good and . choice, 100-130 pounds, 0. Cattle, 9,000; calves, 2,000; strictly good and choice fed steers and yearlings strong; instances again 25 higher; lower gdc steady to strong; killing quality ter; bulk fed steers, 8.25a11.25; top, 13.25; she stock mmy to 25 higher; vealers 50 or more lower; slaughter cat- ‘tle and vnlers steers, good and choice, 600-900 unds, 10.00a14.25; 900-1,100 ds, 10.00a14.25; 1,100-1,300 pounds, 0.00214.25; 1,300-1, Hooedro\.lm.hv 9.75a 13.75;. common and medium, 600-1,300 pounds, 6.25a10.00. Heifers, good and choice, , 8.25a12.00; common and me- 5.0028.25; cows, :ood and chmoe. 55027.50; common and medium, 4. 28.50; low cutter and cutter, :00“25 (yearlings excluded) and choice, 9.50a12.00; medium, .0029.50; cull and common, 6.0088.00; stocker and fedder cattle, steers, and choice, 500-1,050 pounds, 7. common and medis 5.1 !m'l 00. flggfifl. 13,000 hfld’ mde umb: 8.2528.85; early top, 8.90; some held ler; choice yearlings, 7.25, ,fl'. ewes, 300!‘ 00; !.lml. 90 good and chowe 1.75a ‘gfllfl:l mflillm 6.507.75; all weights, comition, 5.5086.50; ewes, 90-150 pounds, to choice, 2.50a4.00; all medium hts, cull and common, 1.50a3.00; 1 lambs, 60-76 pounds, good and ice, 6.75a7.50, Tuternational Business Machines. NEW YORK, January 7 (Special).— ‘A broker who purchased several lots of stock in the November 13, 1929, panic said today that all of them showed him a loss except International Business Machines. This company earned. $8.568 a share in the first nine months of l’:zl’?t.}nd ‘:h: Inud’lmln( i ‘N‘hfl" or year per share return than the $11.03 made !n 1929. On September 30 current as- were $10,898,031, against current lilbflmes of $2,657,887. Dividends in ll:’?iz':“ $3,926,255, against $3,188,733 POTATO MARKET CHICAGO, January 7 (#) (U. 8. De- partment ef Agriculture) —Potatoes, 45; on !rlck 174; total U. S. shipments, 724; ; trading rather slow; sacked, per hundredw elght, Wisconsin round whites, 1.40-1.50; Minnesota, 1.30-1.40; Idaho Tussets, No. 1, 1.70a1.85; No. 2, 1.40-1.50; Colorado McClures, branded, 1.80-1.90; unbranded, 1.70-1.75, BONDS ON THE CURB Bales in DOMESTIO BONDS. thousands. Low. N S Rlabama Pw 4ys 1 g % 837 11 m-ngr»‘- Fox !. 194 104 2% N 33282 N F 44 7 5%, sezves £33 v o 33 33208380y ;::sss::gssgx_:xa::m PEDEEERRE LY 228383022933 FE 5 New Eng ¢ 11 New Eng New % Amer Austin Car, 82 Am Book (7)... 18% 5 AmCapital (B) ... 28% 4% AmCP&LB (10%). 28% 10 AmCom P A (b10%) 37 6% AmCyanamid (B) 6 1% Am Dept Stores. l‘ll‘h 110 AmDTNJev 3% Am Equitl 8 Am Founders. 40% 25% Am Maize Prod (2). % Am Maricabo. ... Am Meter (3). 2 Am Natural Gi 9 Am Superpowr (40¢) 186 75% Am Superp pf (6)... 80 Am Superpwr 1st(8) 3% Am Ut&G (B) (36c).: 1 Am Yvetts new wi... 3% Anchor P F (b10%).. 7% Anglo Chil Nitrate., 5 Appalachian Gas.... 3 Arcturus Rad Tube. 4% Arkansas Nat Gas 4% Ark Nat Gas (A) 361 Arundel Corp (3)....250 4% Asso El Ind Lud 30c. 11% A Gas & Elec.... 2 13% Asso GRE A (at2.40) 21 86 AssoG&Epf(5)... 108 65 Ass0G & El ctfs (8).150s 1 AssoG&E (A)dbrts 6 31% Asso Rayon pf (6) 3% Atlas Util Corp. .. 5% Auto Vot M cv of pt.. 16% Aviatioa Cor of Am., 1% Bahia Corp. . 2% Blue Ridge Corp 80 Blue Ridge ovpf(a 19% Brasil Tr&Lt(b8%). 24 Bridgept Mach (25¢) 2% Brill Corp (A) (85¢) . 5 Brillow Mfg Co(60¢) 24% Buff N&EP pf (1.60). 48% Bunker Hill&Sull(3). 75- 5 Burco Inc (war)..... 43 Butler Bros. e % Cable & Wire B rcts., 1% Canada Marconi., % Carib Syndicat 11% Cent Pub Sve A al.7§ 88% Cent&Souw Ut pl(7). 7% Cent St El (k40c).... 4% Centrifug Pipe (60c) in 8 De: 5% Clev Tractor (80¢) 1% Colon Oi1 B % % Colombia Byndicate, 21 3% Col O11 & Gas vto, ... 55% 15% Columbia Pic (f1%). 54% 14 Col Pict vio (f1%)... 385% 217% Com Edison (8). 6% 1% Com & Sou war 7% Com Wat 8v |N$)n - s s p g RERR S T ke 4% Darby Petrolmn (1), 1% Dayton Alr & £ng... 29% Deere & Co (81.20)..; % De Forest Radio..... 10" Deinel W Gilb d&).. 1% Detroit Alr . 11% Douglas Airerat (i 28% DressB R (A) (3%). 18% Dresser Mfg (B) (2), 14 Driver Harris woaasst 9 S 5 §=. e Elec Pow Asso (1)... 10% Elec Pow Asso A (1) 16% El Pow & Lt op war., 7% Elec Shareholdg (1).. 67 El Sharehold pf (a6) . % Empire Corporation.. 4% Emp P Ser A (31.80, % Engineers Gold. 1% Europ Elec deb s, - 090019180 O 1= O 1 19 14 Fire Assn Phila 1. 0. 18% Ford Mot,CanAt12.10. 6% Ford Mot France 23c. 10% Ford Mot L.td 37%ec.. 1% Foremst Dairy pr pf. 1% Foundation For Shs., 2% Fox Theater Cl (A)., 14% Garlock Pkg (1.20) - N ...n..e-?.......- 37% Gen G&E cv pf B (6), % Gen Laundry Mach., 22% Gen Thev pf w.i.(3). 94% Georgla Pow pf ( 50 Glen Alden Coal (8 6% Globe Undwritrs 30a.” % Gold Seal Elec new % Golden Center. .. 4% Coldman Sach T C !0% Grutm s DD (1)e Groo Strs Prod v.t.e.. “% Gul[ Ofl of Pa (1%). 2% Hand Page p pt t25¢. 6% Hecla Mining (1) 315 Hudson Bay M & 8. 85 Il Pwr & Lt pt (6).. 15 imp Ol ot Can (bvc) 46% InsCo N Am (13).... 5% Insurance See (70c).. % Intercontinent Petn. 12 Intercont Pow A (2). 11% int Petroleum (1). 0w 30 IntDtiiities & (3% 19% 4 Internat Utll (B), 14% 2 InterstateEquiti ) 18 1% Italian Superp (A).. 9% % Italian Superp war., % Kirkland..... 12 Knott Corp (1).. 1% Lakey Foundry, 5% Lefcourt Real tL8 1 30% 12 rts. 55% 19% Lone Star Gasn (1). #..MORE FAVORABLE NEWS IS HELP TO MARKET Special Dispatch to The Btar. NEW YORK, January 7.—The indica- tions are that the stock market is still pointing upward under the infidence of 4 | & change in public psychology since the first of the year, induced by such favor- able developments as the rail consolidation, the greater 31 bw eri s 1l Wes Tex OF 5 A B POREIGN BONDS , 13 n_Doninion, 85 60 a g O\Igl l! 3 ¥ o o g’"‘"fi: 4 z‘fia"- °°:§2 it St 3 et in industry, the money, the average advance in tic bonds of 2% since the definite through chember and either ceased their does not want to see such a development. It "mum. 100, that some of the w= Fa; SW Da: 21% 1% Mead Johnson (33). Memph N G Co (60c). Mid St Pet vtc A...., % Mid St Pet vte B.... M@ WSt Ut (1%)... Mid West Ut (b8%).. Mid Roy ev pf (2)... Mining Corp of Can. Mount St Pow pf (' Nat American Co. Bond & Sh(75c). Newmont Min (4) N Y Auction. N Y Transit (11.80). Niag-Hud Pow (40¢c) Niag-Hud Pow A w.. Niag-Hud Pow B w.. ara 8h. Md(40¢) Niles-Bem-Pd (13). . Noma EI Corp (80¢). Noranda Mines...... Nor Ind Pub S pf (6) 2008 Selected Industries., Selected Indus ofs. ., Selected Indus pr pf., % lonry Safety Cont.. Shenan Corp pf (a3). Sherwin Will (14%). Silica Gel ctfs. ... Sisto Finance Corp‘ . Sou Penn O1l ¢12%).. BoCalBAptB (1%), SoCal EAptC (1%). iry Products., 8 W Gas Utilities. SW Bell Tel pf (7) Spleg M St pf (6%).. Stand Ofl Ind (3%).. Stand Oil of KY (12) Stand Oil Neb(13%). Stand Ol Ohlo (23%). Btarrett Corp......u Starrett Corp pf (3). Strauss Roth....... Stromberg-C (t1%). Swan Finch Ofl...... Swift & Co new (2).. Switt Internatl (14). Swiss-Am El pt (6).. Tampa Electric (32). Technicolor Inc. % Teck Hughes (600),. Toledo Edison pf(6). 4 Tran Con Air Tran. Trans Lux DLPS Tri Utilities (31.20 ‘Triplex Safety Gla: Trunz Pork 8 (1.60).. Tublze Chatel (B)... ‘Tung Sol Lamp (1).. Ungerleider F Corp. . Un N Gof Can t1.60., Utd Carr Fastener-. .. Unit Chem pt pf (3).. Utd Corp (war)..... Utd Elec 8ve Wheatsworth (11%) Wil-Low Cafeterias. Wilson Jones (3).... 7% Zonite Products &1).. RIGHTS. 10% Com Edison. .rtfln e A Received by Private Wire < Direct to The Star Office Low. Close. 109% 109% 104 104 % 1% 1% 9 Hi 110 8% ) 9% 9 & - oy - FraiierfonSunniuana = 8 (b10%).. RapormmomEennSen = o 9 [SITPARE-44- 99 74 Nor Europ 01} Corp. Nor St Pow pf (8) N W Engineer (2) Ohto Copper. ... . Okla Gas&El pf (1 Oliver Farm Eq Pae Pub Sve A(1.30) Plymouth O1l (2). Pratt & Lamb (15). Prince & Whitely. Prod Royalty (f1) Prudential Inve Pub Sve. Nor I11(8). 1008 Pub Ut Hold (50¢). . Public Utll Hold war Railroad Sh (50¢)... Rainbow Lum Pr Rainbow Lum Pr Reiter-Foste: Reliance Inj (. 20 12 Richman Bros (3) Rike Kumbler (2.20). Roan Antelope Min. . Rock Lt & P (90¢)... Rossia Int Corp. St Regis Paper (1) Salt Creek Prod (2, “ - EE T TSN TSP = » = AN BEEN RN ° Sroruafone meanmean N NomPme - Utd Lt & Pow pf U 8 Elec Pow ww..,, U S Foll Co B (50c).. U S & Int Secur. u S Lln“ of (1) Util Equit pf ( Vacuum (14%). Vlc Finan Cor (4 G)' Walker (H) (1), Watson (J W) Co. Wayne Pump. West V Coal & West Atr nv (lon).. West Aut Co (lfl T R RN 3 22% 8% 3% 22% 20 8% 1 13% 183% Dividend rates in dollars based on last quarterly or semi- payment. *Ex dividend. Partly extra. iPlus 4% in snnual Shoh, S Perable 1n cash et sock -huu- in stock. e Adjust- ment 'um ARMOUR & 00. . CHICAGO, January 7 (#)—Armour & Co., packers, reported today that al- though 1930 sales ,of approximately $900,000,000 were about the same as those of 1929, profits were sharply re- duced because of constantly declining prices. Earnings for the fiscal year ending last November 1 were $4,741,026, just short of dividends guaranteed on the preferred stock by Armour & Co. of ries by resort- ing to surplus to the extent of $4,060,576. Net earnings for the preceding year Were $0.810.518, equivalent after il pre- ferred dividends of Iilinois class than | aldermen of _“ Plus 6% in sf 6% 5 Plus 3% fn mk. x Bhaa 0% 1n” st in stock. n Plus 8% in stock. h Plus m Plus in stock, FORMER WASHINGTON MAN JOINS FINANCIAL FIRM Special Dispatch to The Star. NEW YORK, January 7.—John R. ‘Walker, for the past two years Presi- dent of the Morris Plan Corporation of America and former European trade commissioner under President Woodrow ‘Wilson, today announced his afliation with the firm of Jackson-Babbitt, Inc., financial counsellors, where, as a direc- tor, he will specialize as an authority on industrial banking. A member of the District of Columbia bar, Walker also headed the firm or- llquluu h:l“ ‘\:s lumber ma- to 49 cents on Armour | banks, " oommon, ume of organiza- tion and supervision of banks operated by the national parent company. ———— 1 | latter days of the month. % | in the amusements, while the smallest | Joseph I, Weller 5, %=, IACTION OF COMMON STOCKS REVIEWED Largest Drop in December Values in Amusements and Smallest in Motors. ‘The market appraisal of 100 common stocks mmea $8,' 100‘1'..:% in 1930 from $20,434,453,000 to 734,263,000 at the close of business on December 31, aecording to a survey jusl published by Prazier Jelke & Co This compares with & decline $2,709,474,000 in' 1929 and a gain o! $10,204,722,000 in 1928. At the lows of December 17 the group was valued at $19,386,310,000, or $24,066,724,000 less than at the end of August, 1929, the approximate peak of the bull - f the 13 which ach one of sul ps make up the 100 issues bg‘:ged a loss for the year, the largest decline being in the mines, which dropped 57.1 per cent, and the smallest being in the foods, 6.6 per cent. The oils reciat- ed 42 per cent, the equ!un-nu. 40.9 per cent; the Tetail shares; 38.4 per cent; t.ha amusements, 36.9 per the 1 mmu!munu chemicals, 3’1 cent; the rails, 24.5 per cent; the m— cellaneous industrials, 24.4 per cent; the motors, 23.6 per cent; the steels, 20.9 per cent, and the utilities, 18.6 per cent. In 1929 the decline in the automobile group .contributed 96 per cent of the total depreciation, while in 1930 the biggest loss was in the oils and amounted to 21.7 per cent of the total change. In the month of December, says the survey, there was a net loss of $2,285,- 779,000, or 9.9 per cent, in the value of the 100 issues. The total dropped from $23,020,042,000 on November 29 to $19,386,310,000 on December 17, but recovered $1,347,953,000 during _the ‘The largest net loss in December was 21.8 per cent unt was 24 per cent in the motors. The oils fell 20.6 per cent, the mines, 16.5 per cent; the equipments, 15.6 per cent; the retail shares, 14.6 per cent; B the miscellaneous industrials and the chemicals, 8.6 per cent; the elec- tricals, 8.3 per cent; the rails, 7.9 per cent; the foods, 6.2 per cent; the steels, 5.8 per cent, and utilities, 4.9 per cent. — NEW SECURITIES NEW YORK, January 7 (#).—New se- curities offered include: City of Atlantic’ City, N. J., $3250,- 000 5 per cent tax revenue bonds, dated December 29, 1930, and maturing June 10, 1931, priced to yleld 350 per cent, by a group headed by M. M. Freeman Clty of Springfield, IIl, $1,000,000 /» per cent water bonds, matuflng se- Ylnlly July l 1936, to 1950, inclusive, and priced to yleld from 3.90 to 4 per bL lldredfl & Co. and R. W. Money to Loan REPORT OP' €O Of The Departmental Bank Of ' Washington, it the District of Co- lumbia, at the close of 4busines: on December 31, 1930, 960,177 93 sz er 24,208 27 186,400 14 115,323 98 4,612 70 rom banks, 142,957 09 and other LIABILITIES . Capital stock pald 1 £0.000 0 . Reserves for inte: taxes and other expenses accrued and unpai . Due to banks, certified and 618726 9,036 18 2 | Other Habilitie Total .. $1,477,021 85 Washington, District of Columbia, ss: I J. T. BXNICIOS, president of the above-named bank, do solemnly swear that the above statement is trus to the best of my Knowledge and. belfef. 7. T BXNICIOR, President. Subs-ribed and sworn to befors ms this 6th day of January. 1931, (Seal) MAY LOU H. BYINGTON, Notary Publlc, LIBBEY £. MeCOY' RSHALL 0. EXNICIOS Directors. o[c———ilo]————5 DO YOU NEED A LOAN For Construction or Refinancing? have available first mot ge money for lmpmved Real Estate situ- ated in Washington and its suburbs. Just tell us how much you need and we'll give you a quick an- swer. We purchase 2nd trust notes secured by improved real estate, REALESTATE Correct—Attest: E MA Capital Resources, $3,500,000 Aobirss 1610 K ST. N.W. State lélnnhl.l On our liberal 20 monthly repayment plan. No indorsers required. A strictly dignified d confidential service, Maryland Perlml Bankers, 8405 Georeia A:M Sprigs. Ma. Peoples l’er:cnl Bankers, Mg R e Telephone National 5000 For immediate delivery of The home' evening ummnmmem»m' Mm-n WEDNESDAY, JANUARY 7, 1931, STOCK AN.[L .;.P-ND AVERAGES Piom Yesterday's 5:30 NEW YORK COTTON NEW YORK, Jam 7 (Special) — Initial cotton prices 4t08 .| points lower. Further bearish statistical reports caused the renewal of many short positions, especially in distant con- tracts. Southern and overseas traders sold in all months. Opening prices were: March, 10. 10, oft 4; May, 10.35, off 6; July, 10.57, off October, 10.72, off 7; December, 10.89. MARKET VALUES SHRINK, NEW YORK, January 7 ().—The market value of all shares listed on the New York Stock " Exchange declined $4,291,981,244 December to a total of $40,019,878459 as of January 2. As of January 2 there were 1,308 gregating 1,206,794.480 o 2 s K es 1204, shares : i . " Scotland, will build & new PAME X LT Some Companies Are Heavily In- terested in Various "7—The rail- greatly inter- tlnc American Steel only because of the . Business derlnl from the carriers, but .| steel manufacturers own mlh Unmshm Steel tion, for panies, than 4,000 miles, The m of its rail lines are: Cement Price Reduced. NEW YORK, January 7 (#).—The Penn Dixie Cement Co. has reduced the price of cement 10 cents a barrel in stock issues ag| on December 1 $1! 00”330 electric power station. | Directors Raymond B. Dickey Joseph T. Exnicios Marshall O. Exnicios E. W. Libbey Your Bank , December 31 1925..$515,350.03 1926 ...$619,204.14 1927 $848,172.42 1928 $1,147,422.12 Ijepa:it o s ran e 1929, $1,217,157.25 1930 . . $1,259,919.93 THE DEPARTMENTAL BANK Under U. S. Government Suporvuun 1726 Penna. Ave. N. W. Menibers NEW YORK AND SALTIMORE STOCK EXCHANGES Associate Member NEW YORK CURB EXCHANGE 1508 H STREEY WASHINGTON, 0. C. Service Washington, Baltimore and points in Inryhn.d, The growth of a bank is dependent—directly or indirectly on its - service to the public and the confidence it merits from the public. - This confidence is clearly demonstrated by the steady increase in our deposits, as shown below 1= "Directors C. E. McCoy Clyde Reed L. A, Rosefy . L. Shorey John G Testwr USTOMERS of this liouse erijoy the advantages of a well organ- ized service to keep them informed of the latest happenings and financial world, in the business From out eorrespondents in New York, and from well known houses in other citiés, we receive each morning market letters containing interesting comments and opinions on stocks, bonds and financial affairs. These let- ters are on file dailyin ourBoard Room. At frequent intervals our customers’ also receive special bulletins from eve Statistieal Bepartment. giving. up~te® date information. on New Yark sentiy ment. as well as recommendations on securities fhat ofior interesting possibil- ities. We will-be glad to have you toke advantage of anyor all of these services. Mackubin, Goodrich & Ceo. ESTABLISHED 1809 : BANKERS e Ty ——— W VMmN P 228