Evening Star Newspaper, January 9, 1931, Page 15

NING STAR, WASHIN! GTON, D. C., FRIDAY, JANUARY 9 1931, 7 PINANCIAL. ®x® A5 FI W " CURB SHARES GAIN | INBETTER MARKET Favorable Business News Is Spur to Trading—Utili- ties Strong._ BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, January 9.—A combi- nation of favorable overnight factors | the Curb Exchange to open | higher today, and the early rise was caused widened by specific corporate news as the session progressed. Bond & Share, failed to meet brisk de- mand until midday, when several size- able blocks were bid for. Cities Service ranged narrowly, maintaining its early recovery. Public utility, petroleum, natural gas, rail and food ‘shares in order named were features of the upward movement in the forenocn. Sales during this period amounted to 243,700 shares, compared with 183,600 Tkarsday, Meanwhile motor and air shares lagged and copper and cal stocks in- light issues were in de- mand as amateur bears covered. This movem: received its impulse from publication of monthly earning reports, from ) profits of 1930 could be d with 1929. The results were s had anticipated. American Gas & ase authorized com- 000,000 to 8,000,000 rove beneficial s heard rumors plans under developments, coupled by Consolidated United Light & West Utilities he utilities, 3 in the per cent S have a small than in 1929, will be due to ed Gas, which the natural nnounce fur- 1s at any time. ther exp duction, mer- Furthe ger prospec tion prove uum, which from its pre-Christmas low, has bee accumu d on the theory that an an- nouncement about the Standard Oil of New York-Vacuum merger may be made > Federal Government, xpecting some sort to come from n. Pittsburgh & Lake Erie, which benefits from any increased ac- tivities in the steel trade, Western Maryland preferred and Pennroad were higher during the forenoon. Atlantic & Pacific Tea was xception to the firmer tendency in the food group. fact that December sales showed a d crease of $5,913,349 or 6.78 per cent de. spite the gain of 9,824 tons or 241 in actual quantity of goods encral Baking preferred re- sumed its advance. A fr cut in prices brought seliing into most of the chemicals, Dow Chemical was lower and American Cy- animid B ned heav United States Gypsum was whirled following reports of better business and rumors of fur- ther acg: ons. Singsr Manufactur- ing on a small block leaped some 19 points. POTATO MARKET. SAC""CAC’O' January 9 (#) (United | nt _of Agriculture). — s Dep 7; 160: total United 1. . 1.80a1.90 ded, 1.85a1.90. Colo- BONDS ON THE CURB MARKET 83 90 1037 3 Wash W & Pow 55 1Wes Tex Ut 55 A 1Wes Tex Ut 55 A FOREIGN BONDS. 2 Bogot M Bk 7s '47 b 60 5 Can Dom! 4s 60 11 Finld R M Bk Ger Con Mun 1 eral 6 [ 7 Rubr G Co 6 $8exon Pub Wk 1 Btinnes 75 18 Terni Soc With warrents —Without Warrants. This was due to the | | | 3 The leader of the market, Electric ~Prev. 1930.~ High. Low. 70% 32 13% 3% 204 9% 9% 1% 151 4% 356 140% Stock and Dividend Rate. Acme Steel (235) Aero Supply (B). Affillated Prod 1.6/ Allegheny Gas. 1 Allled Mills (60c) . 6 Aluminum Co of Am 6758 Alum Ltd A war..... 5 Aluminum Co Ltd. 3 Alum Ltd cum pf ). 2 Amer Austin Car 1 Am Br B {d shars. Am Capital (B) Am C P&L (A) (a3).: Am CP&L B (10%).. Am Com P A (b10%) Am Cyanamid (B). Am Dept Stores Am Equitles. Am For Pow (war).. Am Fork & Hoe(11%) Am Founders. .. . AmGas&Eln (1 Am Invest Inc (B Am Lt & Trac (2% .. Am Maricabo. Am Meter (3) Am Superpowr (40c) Am Superp pt (6). Am Superpwr 15t 4 Am Ut& G B vtc 20c. Anchor P F (b10%).. Anglo Chil Nit Appalachian Ga Arcturus Rad Tube. . Ark Nat Gas (A). Asso El Ind Ltd 30c.. Asso Gas & Elec. Assoc G & E1 A (a2). Assoc G & El war.... Ass0 G&E (A) db rts Asso G&El pur rts. .. Assoc G & E all ctfs. Asso Rayon......... Asso Rayon pf (6)... Atlantic Fr & Sug.... Atlantic Sec:'r Corp., Atlas Util ¢« Auto Vot M Aviation 5 Aviation Securities. . Axton-F Tob A 3.20. Bell Tel of Can (8) DE(6%%). Elue Ridge Corp. .. .. Blue Ridge cvpf(ad) Brazil Tr&Lt(b8%). Brill Corp (A) (65¢). Burco Ine (war)..... Burma Corp (t31¢) Butler Bros. . Bwana M Kub Cable Rad!o T vte. Cable & Wire A rcti Cable & Wire B rcts, Canada Marcont Carib Syndicate Cent Pub Svc A a: “ent Pub Sv Del.". Cent &S W Ut h6%.. Cent St El (k40c)... Cen St El cv pf n(a6) Centrifug Pipe (60c) Chain Stores Stock. Chat Ph Al n.v. (1) Citles Serv (g30c). Citles Serv pf (6). ... Clev El Illum (1.60). Clev Tractor (80c).. Colombia Syndicate Colon Ofl Col Ol & . Col Pict vtc (£1%). Com Edison (8).. Com & Sou wa Com Wat Sv (b6%). Com His Am Sh 3.25. Consol Copper. . Cons Gas Balt (3.60). Consol Laundries(1) Contl Shara cv pf (6)550s Copper Range Cord Corp. . Corp Sec Ch (b6%) Cor & Rey pf A (6). Cosden Of} Cosden Oil . Creole Petroleum Crocker Wheeler. Crown Cent Petro Curtiss Wright war. Cuban Cane pr opt w. Darby Petroleum. Layion Alr & Eng Deere & Co (£1.20). De Forest Radio. Derby Ol ReBnin, Detroft Alrcraft Doehler Dfe Casting. Douglas Alrcraft (1) Dow Chemical (2). DressS R (A) (3% ). Dresser Mfg (B) (2) Driver Harris new. . Dublller Cond & Rad Duquesne Gas Cp w! Durant Motors. Duval Tex Sul w Fast G & F Asso. 51 St Pow B (1), st Utl] [nv (A) ison El Bos 13.60. 10s iiisler Electric Corp. 5 « Elec Bond & Sb (b6). 634 % El Bond & Sh pf (6), 4 Clec Pow A8s0 (1).. 11 ec Pow Asso A (1) 1% P&L2dpf A (T).. 10 Pow & Ltob war. 5 ec Stareholdg (1). 2 arehold pf (a6) 1 orporation. 10 F cu pf (8) pire Steel Corp. Fngineers Gold. Eureka Pipe L (1). Europ E Ltd A (60¢) Fabrics Finishing Fajardo Sugar. Federated Capital £iat Stock deb rts. . Fire Assn Phila 1.60. Flintkote Co (A). . Florida P&L pf (7).. Foltis Fischer Corp. Ford M Can A (1.20), FordMot, Sales— 508 1 15 31 1 15 232 99% T 13 134 49 288 284 37 6 22 76% 27% 6% 1614 B9% 4% % 5714 85 0 1 18 1 1t 00 4 1 =1 1S w e A R E AR DO TN SN D BN R 0 wa M Ltd (p: 7 Foremost Dairy Pr.. Foremst Dairy pr pf. Foremost Fabrics. " |vear ended on November 2, 1920, Fox Theater Cl (A) eneral Aviation “eneral Baking.... n Baking pf (3). E Ltd rt (p70c). n Empire Cor (1). n G&E cv pf B (6) n Thcv pf w.1.(3). nW W&E A (2) Gleaner C Harv new ilobe Underwriters. Goldfield Consol. . Gold Sea) Elec new Golden Center. ... Golden State Milk Guif Ofl of Pa (1%). Hartman Tobacco. Hazeltine Corp (2). Helena Rubenstein Hudson Bay M & 8. Hygrade Food Prod. 1mp OVl of C Insull Inv (b + 1ns Co of No A Insurance See (70¢ « Intercyntinent l'etn nt Petroleum (1), . Int Superp (11.10) IntUtilities A «335). taternat Ut «B). . Interstate Ecn pf(3) Leh C& Nn (1.40).. Leonardoti. . : 14bby McNefl & L Liberty Dairy Prod. Note—All stocks are sold in one hundred-share lots excepting those designated by the letter s (80s) (2508), which shows those stocks were sold in odd lots. Add 00. Open. High. Low. Close. NEW YORK CURB MARKE Stock and Dividend Rate. Lion Oil & Refining. Inc deb rts. Loew’s Inc war). ~Prev. 1930.~ High, Low. 29 4% 64% 10 20% 1% 557 193 11315 108% 3 L) & Loew" 58 Lone St 4 14 2% 5 155 33 62 91 1% 4 b 85'% T 12% 9% 2 5% 38 4 14 21 5t 1591 33 62 38 4 13% 21 5 155 30 60 91 1% 4 5 85% 1 12% 9% 2 5% 17% 22% 5 76 5% 45% 8 4 3% 2% % 16% T4 11% 17 3% 90 22% 2% 16% 411y 30 1% 6 38 24% - 315 36% 6 27% 124 12% 21% 5 914 Marcon! Mid St Mid Roy Bk 76 5% 42 11 87 Nat Inve Niagara 103 183% 42 1% 1t 115 18% 13 29% 39% 13% 29% 164 32 46 5% 2 21% 15% 20% 130 16% 4“4 8 23 253% 27% Pac Pub Pennr Puget S Rooseve Selected 4 Selected Selected Sou Cal SW Bell Spanish Stand O Starrett Starrett un Inv Texon O Thatche Union Long Isl Lt pf (7). Louisiana Lan & Ex. Magdalena Synd. Mangel Stores Mangel St pf (6%). i Marion Steam Shov. Mavis Bottling. Mead Johnson (314) . Memph N G Co (60¢). Mesabi Iron..... Met & Min Ino (1.20), Met T Co pt pf t3% Met Chain Store: Mid St Pet vtc A. MId West Ut (b8%).. Mining Corp of Can Mo Kan P L (b10%). Mo Kan P L vtc Miss Riv Fuel by Mount Prod (1.60). Nat American Co. Nat Aviation. .. Nat Bond & Sh(75¢). Nat Fam 8 (b10%) Nat Food Prod (A). Nat Food Prod (B). Pure O1l pf (6).. Radlo Products (2) Reiter-Foster. Rellance Int (A). Reliance Manag. Rossia Int Corp. Rubberotd Co (4)... afe Car H& L (8). Anthony Gold. St Regis Paper (1). Salt Creek Prod (2) Saxet Co. . Schletter & A Schulte Un 6c-$1 St Seg Lock & H t50c). Selfridge Sentry Safety Cont. ., Seton Leather (1). Shattuck Den Min. Shenandoah Corp Shenan Corp pf (a3). Sherwin Will (1434). ilica Gel ctfs. .. nger Mfg (122). outh Penn Ofl ( So Cal Ed pf A (1 So Cal Ed pf C (1 SouthldRoyaity (60, 8 W Gas Utllitles tandard Motor: Stand O1l Ind (2%). Stand Oil Ky (1%3).. and O1l Ohfo (23) i1 of Ohlo(5) tutz Motor Car n unray Oll (b5% ) Swift & Co new (2) sracuse W Technicolor Inc. . Teck Hughes (60e) Tran Con Atr Tran. . Irans Lux DL F S.. Tri-Cont Corp (war) 1 Utilitles (31.20). Tublize Chatel «B).., Ungerleider F Corp. . Un N G of Received by Private Wire Direct to The Star Office Bales— Add 00. ®pen. High. Low. Close. 3 6w % 6% 9 9 9 214 2 2% 26% 26 26 1097 109% 109% 1% M 1% 14 ) 4 4 4 30 30 30 9% M 2 R % L) 79 79 79% 10 1 % 34 2 4 1% 20% 14% 2 814 ] 9 5% % 5 Gasn (1) 1 Mar ¢38¢c), o % 34 2 4% et vtc B. 11 - cv pf (2) BN onnriomBeem - © s ] stors. Nat Mfgs & Stores. .. Nat Rubber Mach. . Nat Sh T Sec A 50c. Nat Sugar N J (2). Nat Transit (1) Nat Union Radlo. Neptune Meter A(2). New Eng Pow pf (6) 270 New Jersey Zinc(t3) Newmont Min (4) N Y Steam Cpn w. 4 Nlag-Hud Pow (40c) Niag-Hud Pow A w. Sh, Md (40¢c) Niles-Bem-Pond (2). Nipissing (30c) Noma EI Corp (80c). Noranda Mines. . Nordon Corp Ltd. . No Am Aviat A war. Nor Eurep Ofi Corp Nor Ind Pub S pf (6). Nor St Pow A (8) Novadel- Ohlo Copper. . Ohlo Power pf (8). Okla Gas&El pt (7) Qutboard Mot (A). Outboard Mot (B). Pac G&E 1st pf (1%) Ang (14%). Sve A(1.30), Paramount Cab Mfg. Patterson Sarg (2) ad Corp. . Penn-Mex Fuel (3), Peop L & P A a2.40. Petrol Corp war Philip Morris Ine. Phillip L Inc B 1.60 Pilot Rad Tube (A) Pitney B P n (z0¢).. Pitts & I Prince & Whitel Prince & Whitely pf. Producers Royal (1), Prudential Invest Pub Sve. Nor [11(8) Pub Ut Hold (50c).. Public Utii Hold wi Pub Ut Hold xw 50c. Srie (5) P & Lt pf(6) It Field Inc. - X e N industries. Indus cfs. Indus pr pf. Store(27c) 'S wenSanBeBeanfal marsompmm— Doe pL (1%, %) %) e) Tel pf (7). & Gen rets % 37% 22 59 103% 121 234 4 S wBermEaRenhen 0. cisss Corp pf (3). Mch(B). PP RUP - SO & Land (2). r Sec Corp. . n(1.40) cco. it Chem pt y Utd Corp (war Utd EI Sv pr war. Utd Found Utd Lt & Pow A (1), Utd Lt & Pow pf (6). U8 Elec I'ow ww. .. i S Elec Pow (war). 8 Fin 5 Fol Holding Co I3 « 5 Gypsum (12.10). US & int Sec Ist «5) Utd Stores. L d Verde Utah Apex (50¢) . ULP & Vacuum Ve, 3% 91% 1% | 3514 554 ™ W 125 68 16t 35 1B | St 14% 21 Pub Srv | Dividend rat in 26% | annual payment. . i 5| Mock” WP | Vidend. 1% !3% in stock. 6% 26% 3 Plus bl n Pius “Ex_dividend. A Pavable tn cash or stock { Plus 5% Ltatlo2l. Utility & Ind. . Utll & Ind pf (1%).. Utility Eauities. . Util Equit pf (514).. 4). czuela I’etrol Vie Fiuan Cor (40¢). Walzreen Co. .. ker (H) (1), Wayne Pump....... Wayne Pumrp pf 334 . Western Md pf..... West Mass Co Wil-Low Carete| Wil-Low Zonite Products «11, RIGH" Com_Edison 8 B2 Feb 35 NII..Feb. 2 13 dollars based on 20 last _quarterly or semi- fPartly extra. iPlus 4% b Payable in stock. e Aujusi- Plus 6% in h Pius kPlus 10% n stock. m Plus in stock. »in stock. in stock SWIFT & CO. REPORTS $2.08 NET PER SHARE Special Dispatch to The Star. NEW YORK, January 9.—With sales | $100,000,000 less in value during the year ended on November 1 than in the previous fiscal year, Swift & Co. had a net income of only slightly more than $500,000 less than in 1929, according to anuual report, issued yesterday. : for the fiscal year cnded cn No- vember 1 lact were $300,000,000, com- pared with $1,000,000,000 in the flSNCI: o income in 1930 was $12,491,189, com- pared with $13,076,815 in 1929, a decline of $585,626. Net income in the year ended No- | | i | | | | | vember 1 last was equal to $2.08 a share | on the outstending capital stock. In | the previous fiscal year the net income was eGuivalent to $2.18 a share. . 3 STOCKiEXCHANGE*SEATS GAIN $61,000 IN 2 DAYS| | @pecial Dispatch to The S:ar. | NEW YORK, January 9.—Arrange- ments have been mace for the sale of a New York Stock Exchange membership | at $250,000, an increase of $40,000 from the last previous sale, it was announced yesterday. This increase, one of the largest on record, came a day after the announcement of & $21,000 increase, making an advance of $61,000 in two days. ‘The high price in 1930 was $480,000 and the low price, $186,000, reached in Decemb:r. The dissolution of several Stock Exchange firms at the end of last year, it was said, placed several mem- berships on the market at the same time and resulted in a decline in the price of seaf The rize in stock prices dur- ing the lest week and the improvement in sentiment in the financial district wore said yesterday to have been respon- sible for the sharp advance in mem- bersaips in the last two days. —_— s An oil company is backing & good- roads campaign in' India. : | year. 18% | TRAGTONS RERORT SHONS HARD YEAR Higher Fares Failed to Give Needed Income—Same Board and Officers. Detailed figures from the annual re- port of the Capital Traction Co. sub- mitted to the stockholders at yesterday's annual meeting will be studied with un- usual interest by the company's more than 2,300 shareholders. As noted in late editions of The Star yesterday, Cap- ital Traction suffered a falling off in net income during 1930 of $72,634, in spite of the higher car fares which went into effect shortly after the middie of the ‘The final figures are about what the net income for the first 11 months of 1930 indicated they would be. They $540,000 in dividends during the year. The following summary of operations 4| for the year ended December 31, 1930, igives a clear picture of the company's present financial condition. Summary of Operations. Change over 1920, —3$139,443.70 —17.973.12 +23,018123 Passenger Tevenue, railway. . révenie. bus: A Special bus revenuie Total revenue from transportation.. .$4,124,102.07 Revenue from 0p- erations other than transporta- HOB...c-vsten —$133,799.19 +1,414.63 Gross_operatini Feverme. . .. $4,164,521.20 Operating expenies TS of Eross revenue). 3,006,014.02 —$132,384.56 1,357.33 Net operating re (1850727 —971,021.23 2,039.85 $68,087.38 324,652.00 income. $833,655.18 ting e 2049379 —2.375.28 0ss income...... $838.348.97 —$70,462.66 Deductions From Gross Income, Interest on funded debt... oy Interest " “on funded debt Rent for leased T e Income tax paid at source Misc | Operating Non-ope: come. $280,300.00 77,028.89 5,190.00 3,652.48 1.936.87 $360,009.24 Net tncome. .. $489.339.73 Profit and Loss Statement. Credits Balanice at g of un- laniéous taxes begin- 3759,502.96 489,339.73 $1.248,932.69 540,000.00 | Uncollectivie’ a counts writt " s 54044448 also show that the company paid out : 0 foE the !Cnmmerce & Sav. DEPOSITS OF ALL LOCAL BANKS AS SHOWN BY CALL OF DEC. 31 Following 1s an official tabulation showing the deposits in all the banks in Washington on December 31, 1930, in response to the call issued by Controller John W. Pole, the figues being compared with deposits on the last previous call, on September 24, 1930: NATIONAL BANKS. Sept. 24, 1930. Dec. 31, 1930. $8,828,119.81 4,191,603.98 16,069,424.49 8,581,034.19 19,070,435.48 4,818/956.30 3,626,826.00 6,453,823.48 18,201,111.72 1,785,051.31 53,923,961.63 6,452,399.71 Bank of Wash Columbia . Commercial District ... Federal-Amer. Franklin Liberty .. Lincoln . Metropolitan . National Capitol. Riggs . Second $8,741,963.14 4,532,902.07 16,647,880.46 9,208,049.18 12,123,396.21 5,057,241.56 3,663,539.36 6,206,592.82 18,530,208.02 1,716,767.74 51,793,586.61 6,585,917.41 PRODUCE MARKETS POINTING HIGHER |Larger Shipments Mark Turn of Year—Potata Values Firm. Decrease. Increase. $86,156.67 X $341,298.09 578,455.97 627,014.99 '238,285.26 36,713.36 '239,186.30 '133,517.70 6,947,039.27 The produce markets started the year with larger shipments and some ten- dency to higher prices; at least the advances made in late December on potatoes and cabbage and a few other lines have been fairly well maintained, 68,283.5 2,130,375.02 Totals SAVINGS $1,499,701.42 $1 806,210.90 1,168,608.61 1,880,467.40 1,238,573.99 913,382.19 557,216.49 626,806.33 2,200,460.82 1,040,193.26 4,395,818.55 1,541,114.76 1,731,249.51 3,393 ,475.91 3,514,591.24 315,028.65 6,264,502.70 1,933,289 42 2,495,890.93 2,872,709.26 774,388.86 524,902.43 Anacostia .. Bank of Bright'd Chevy Chase ... Deparimental . East Washington. Industrial .... Inter-Exchange . McLachlen .. Morris Plan Bl Mount Vernon. North Capitol ... Northeast . Park .... Potomac Prudential .. Sec. Sav. & Com. Seventh Street. United States .. Wash. Mechanics’ Wash. Savings .. Wood.-Lang. & C. ;i44.808,134.58 $152,092,749.10 $7,284,613.52 1,033,045.35 1,844,517.19 1,259,919.93 2,122,231.10 1,040,126.64 4,206,386.60 1,443,706.86 1,579,705.33 3,454,376.06 3,517,548.49 6,947,642.66 1,943,670.58 2,541,985.10 2,822,710.09 says the United States Department of Agricuiture, Bureau of Agricultural Eco- nomics, Market News Service. Demand 1s very good, but hardly active enough to take the increasing supplies for any great length of time and still hold the recent price gains. Heavier shipments have been the rule this month for po- tatoes and Southern or Southwestern green produce. More Potafoes Shipped. The slightly higher prices at potato shipping points this month led to some increase of shipments and the markets weakened a little at some shipping points. On the whole, the net advances of last month have been holding quite {well. The increase of shipments to an 2verage of about 700 cars daily tends to increase the market supply, but as yet the large market centers report only moderate holdings and fairly good de- mand. Apparently, the surplus has been taken out by buyers who were anxious to forestall further advances in price. Much of the shipping activity is from Maine and the Rocky Mountain region. According to the quantity ship- BANKS. ,480,272.77 796,434.69 $19,428.65 9,776.21 135,563.26 35,850.21 ,325.20 24,696.22 878,056.99 532,520.27 649,738.80 189:431.95 97,407.90 seses... 151,544.18 60,900.15 Sa o 2,957.25 16,201.02 683,139.96 10,381.16 46,094.17 391,229.67 49,999.17 48167795 42150850 725,710.91 481,993.84 Totals ...... $41,748,583.63 American Secur.. $29,885,619.17 *Merchants’ BK, 7,604,564.55 Munsey .... 4,937,570.32 National Savings 12,364,244.96 Union Trust .... Wash'ton Loan.. 15,730,402.23 $41,693529.92 TRUST COMPANIES. $30,486,747.35 4944 83339 13,492/040.02 8,627,081.49 , 8728,477.63 16,279,930.68 ped and epparent production, there weu'd still be so 30,000 cars to come from the Far West, mainly Idaho and Colorado, "and _n somewhat smaller quantity from Main o two Te- gions would supply abofit two-thirds of the remaining shipments of old stock. Accordingly, shippers in other regions are watching prices carefully from such sections as Idaho and Northern Maine. Shippers in Western New York place considerable mportance on prices and $55,053.71 1,127,795.06 101,396.14 549,528.45 Savings banks. Trust companies. Totals ...... $79,149,482.72 $73,932,028.97 . RECAPITULATION. National banks. .$144,808,134.58 $152,092,748.10 $7,284,613.52 41,748,583.63 41,693,529.92 ...:.. 79,149,482.72 73,932,028.97 conditions at Presque Isle, Me. $5,217,453.75 Potato shipments by rail are of only moderatz importance in Western New York and daily loadings rarely exceed 30 to 40 cars in the Rochester district. Growers have been recelving lately 6 cents per bushel for potatoes in bulk. '$55,053.71 5,217,453.75 $265,706,200.93 $267,718,306.99 $2,012,106.06 . *Consolidated with Federal-American National Bank. | (Compllation prepared by Audley A. P. Savage, auditor of the National Sav. & Trust Co.) The potato market the Maine has been reacting from the heavy supplizs brought by farmers during the pric> advances of garly January. The heavy haulings BUYING BY MASSES | BIGGEST TRADE NEED. Credit balance close of year $708,488.23 —351,104.73 Same Directors Re-elected. | The old board of directors was re- elected for the coming year, the mem- bers including George E. Hamilton, Ed- ward J. Stellwagen, John H. Hanna, Jchn M. Perry, C. C. Glover, jr.; G. ‘Thomas Dunlcp and Merle Thorpe. Officers named by the board were the same as last year: President, John H. | Hanna; vice president, secrctary and treasur H. D. Crampton; assistant | secretary, John Fleming; assistant treas- urer, C. B. Koontz, and chairman execu- tive board, George E. Hamilton. GRAIN MARKET CHICAGO, January 9 ().—Auspicious weather for corn movement and for economizing o feed led to general corn selling and material price downturns early today. Wheat also went lower, in- fuenced by Liverpool reports of pres- sure of offerings from Argentina and {Australia. Opening !5 to 1 cent down, corn later continued weak. s Wheat started at 33a% decline to ¥4 advance, and subsequently held steady. | "Rallies from early declines in corn | were promoted by advices that the Ne- | braska corn situation was summarized | as follows: “Omaha, 32 cars in, 62 out; country sales overnight again very light: one of the biggest housss obtained four cars” A week ago Omaha _receipts totaled 119 cars and a year ago 139, The fact that the most readily available sur- plus corn was in Nebraska lent signifi- cance to this showing and stimulated purchascs. Reports of need of moisture in do- mestic Winter wheat territory tended to tighten wheat values after early set- backs. There was also a lessening of receipts, primary arrivals aggregating 1930,000 bushels, against 1,424,000 a week ago and 650,000 a year back. Com- pared with corn, wheat trade lacked | volume and variety and was described as a carbon copy of many days preceding. Oats followsd corn. Provisions went lower with hogs. Cotton prices were 13 po higher at the opening today. The wide variation was attributed to moderately { heavy trade purchases in January old contracts, while speculative interests set up short positions in distant months: Cpening prices were anuary old, {10.32, up 2; January new, 10.03, off 2; | March, 10.12, off 8 May, 10.40, off 7 July, 1062, off 8; October, 10.67, off 11} Deccmber, 10.83, off 13. DIVIDENDS ISEE)LARED NEW YORK, January 9 (#).— 1 Otistock. Sis %0 Bloch Bios Tob.. Do. pf. es . ... $0.2021 bia Gas & FI 50 Tel pf. 31.50 e Corp pf..3$2 John) Sons RO, o S Goodyear Tire Rub 1st pf awaitan El Ltd Do. pt : Holeproof ‘Hos pf.’ Hollinger Cons Goid g TNlinois. North ‘Uil Kings Co Trust Kroehler Mfg Co Do. pf 51 Lerner BLo Lexington Tel Co 6127, pr pf...$162%% r Gas Cp 163 61,7 Dl Murray (J W) Mifg of $2 N ¥ Merchandise Do. pf . Savibh (B RY Sous 1st pt West Penn El 7% 220 00 © DOOO O DOOOD: DOORO OO OOO! pe Do. 6% ‘bt Howailan Elec Ltd..30c Ex Soecial. ! Kilburn Mills......813 Tuced. Amsterdam Tra d (Am sh) a 24 Resemed. Mutual Invest Tr A.15c Increased. Be Mr Interim, Distiiters Co (Lons on) .. . BT Rand Mines Ltd. Fora Mot of glum Bemberg (J P) AG CBerlin)® ). Daroy Petroleum . General ‘Irustees pf.T¢ Mannise Sowman & Co A.... .37 e at this time, | Vi I Bo g reinia Alber 38 A bt Eng'ish mines in the last 10 years. NEW YORK, January 9 (Special) — | lower to 2| | The remainder of 1931 promises to be a period of unmistakable recovery with | | returning prosperity for business, Al-| lard Smith, executive vice president of | the Unicn Trust Co., Cleveland, told | the Economic Club of Chicago. The | most important problems facing the | country is to restore and maintain pur- | chasing power of the great mass of people, enabling them to ccnsume a | large volume of goods, the banker de- | clyred. This is being accomplished to some extent by the decline of com- modity prices at wholesaie and retail, | thus increasing the buying power of the | dollar. “Amgrica is committed to the prin- | ciple of large public purchasing power as the foundation for business pros- | perity,” said the banker. “Industry is | geared up t> mass production and even greater mass consumption is essential to sustained profits. ‘Perhaps the most notable single de- velopment of the current depression is the determination on the part of the | industrial leaders to preserve present wage levels in so far ac this is possible. “America has had many previcus p riods of depression, but notwithstand- { ing these fluctuations the material well | being of the people has steadily ad- vanced. After each deprcssion the li: ing standards of the mass of the people have usually risen to a higher plane than prevailing before.” | By the Associated Press. ing centers: Wholesale and Job trade. Quiet Quict Quiet Quiet Foir Cleveland Pittsburgh Detroit Chicago . Milwaukee St. Louis Louisville Duluth Minneapolis St. Paul .. Des Moines .. Omaha .. Kansas City Baltimore recalled. crop needs moisture. in large numbers; stocks low. St. Louis—Seasonal lull evident; off; general business quict. Louisville—Building at low ebl Duluth—Retailers featur® weather needed. Minneapolis—Fewer travelers on ment; rain needed. very low. Kar Baltimor tailers holding * Ind 50 Industrials. Today. . Previou: Weck ago Month ago. Year 2go0. Two ycars ago. Previous day. Week Month Year ago.. Two years ago. Three years ago. High, 1930-3 Low, 1930-31. High, 1929. . Low, 1929. 90.4 (Copyright, |or Trade Reports at a Glance Tabloid review of business conditions in the wholesale and jobbing trade, the retail trade and manufacturing and industry, as well as the state of collectiens reported to Bradstreet's this week from the follow- Cleveland—Manufacturers still on reduced séhedules. Pittsburgh—Steels output increasing; geod orders for first quarter; prices firm; more optimism in all Lines. Detroit—New York Auto Show stimulates plants her Chicago—Steel industry picks up; Milwaukee—Employment unimproved; railroads first to rehire men clearance concerns discharge help or reduce wages. St. Paul—Whelesale dry goods and clothing quiet; collections ahe of 1930; low stocks promise increased trade. i Sl Des Moines—After-holiday lull in trade and con: Omaha—Cclder weather needed for trade; coal slow; wheat and corn sas City—Business generally quiet; employment situation poor. ~ try marking time; wholesale and jobbing lag: STOCK AND BOND AVERAGES By the Associated Press. From Yesterday's 5:30 Edition. STOCKS. 1931, Standa brolight a temporary drop in the price, but recent sales have been restored to prevailing range, necar $1.40 per 100 pounds for sackad stock. : Nearly all Eastern markets réport sup- plies of sweet potatoes moderate, but slow demand has prevented any goneral change in prices. Delaware and Maryland yellow stock continues to 821l at a jobbing range of $1.50 to $2 a bushel in Eastern cities. New Jersey stock in bushel hampers sold at $2 to $2.40 in Eastern markets. Sales of North Carolina Porto Ricans followed & range of $1.25 to $1.50 per bushel in Boston, Pittsburgh and Washington the first weck in January. ‘Tennessee Nancy Halls sold at $1.25 to $1.60 in Eastern markets. Onion Markets Duil. The leading onion markets report moderate to ibsral supplies and slow demand. Eastern markets weakened a little during the first seven days of January, but chowed a tendency to re- cover, end recent price range strength- 4 cent under the recently estab- |ened to $1 to $1.40 per 100 pounds on lished dcmestic price, but thus far | jobbing sales in New York, Philadelphia, Boston and Baltimore. °Onions have metal is said to have come from spacu- | lative cources, with large producers still | becn selling very slowly in Eastern pro- ducing sections and country markets holding at 105, The American Smelting and Refining | have continued dull for several weeks. Co. has reduced the price of lead .15 | Storage holdings of onions and ¢ of a cent to 4.85 cents a pound. are being reduced slowly and probably In connection with the further de- |the large quantity on hand will prove pression in silver, with its unsettling |a hendicap in the event of a rising effects upon Far Eastern trade, there | tendency of the market. is further talk in international bank- 01d Cabbage Tends Higher. ing circles of the prospect of a o Ll 1ar8¢ | prices of cabbage have shown a Te- silver lg:n by hse\'er;l interested gov- q d tendency this month in ern t st | newed upwar et i -2y e o e L g Y government. Wall Street is ice gains of $1 to $2 per ton for bulk all Street particularly interested g{ock gol the ® long-keeping varieties. in a report which a subcommittee of the Senate Committce on Foreign Re- | Good Western New York cabbage brings e i prpected to make upon this | 820 % Seiprcats from Westerm New B e Sk have: averaged close to 70 cars daily. Demand has been only fair and sales of sacked Danish type cabbege, small to medium size, have been mostly arourd $17 per ton. Shipments to date have excecded those of last season by several hundred cars. Local estimates on quantity remaining in stcrag> in that secticn ranged from 3,000 to 3,500 car- lcads. Market supplies of new cabbage are increasing and this class of stock fails to share the ng trend of the | general cabbage market. |* The celery market is quiet in Eastern | producicg sections. Most of the re- ! maining celery scems to be in control of Slow A few operatsrs who bought some time Fair | {500 and are holding the celery in Slow | | gtorage for their regular trade. Most Slow | |other dealers are either closed out or Slow have only small quantities of stock to Slow | |offer, Recent reports indicated about Slow | {145 cars still in storzge. Quality of Fair | frecent shipments has keen cnly fair to Slow | |ordinary and prices have shown little Slow | |charge. Florida and California started Slow | |in a this point to teke care of trade Slow | |for the balence of the Winter and Spring. WEAKNESS IN METAL MARKETS PERSISTS Further Easing of Prices for Cop-! per and Lead Is Re- ported. By the Associated Press. NEW YORK, January 9.—Shading of prices for copper and lead and fur- ther weekness of bar silver in the London market have given an easy tone to the non-ferrous metal markets today. Copper has been sold, it is learned in trade circles, at 101; cents a pound, Mfg. and Industry. Quiet Quiet Quiet. Quiet Fair Fair Quiet Quiet Quiet Fair Quiet Fajr Quiet Quict Collec- tions. Slow Fair Apple Market Dull. in producing sections have | been compleining for lack of business in apples. Even at the comparatively low | prices prevalling only limited quantities | of fruit can bz sold. The expcrt move- mert is increesing, but a majority of the shipments from Eastern sections for export trade consisis of consignments cars sold outright. fling dullness sems to have 3 th> Northwest also, few E 3 reporicd at leading shipping ponts in Washington and Oregon. Frices have sagged off a little in both regl mpared with a month ago, g verieties showing a decline of 5 cents to 10 cents. Eastern varieties, like Baldwins, which are in short sup- ply sold around $1.50 per bushel for the most attractive lots at shipping points in producing sections, Rhode Island Greenings are seliing low for a sl.'mq‘o ard variety at $1.25 to $1.35 for :»imfltj grads and_size. Som? poorer stoc¥ even the Baldwins, coll at not mur, England MclIntosh brineg Tel, Ni Cork. East- dy jobbing: bushel iif, Philadelphia and oth-r Eastern markets Nearly all the Eastern markets reporfy demand only fairly good in recent weeks. Despite temporary slowing down of the export trade, the conditions ars reported favorable for further sales in most markets of continental Europe. BROKER LOAf.iS DECLINE TO NEW LOW FIGURE Special Dispatch to The Sta NEW YORK, January 9.—The weel statement of the Federal Reserve D2 of New York showed a decrease of $47,- 000,000 in brokers’ loans to a total of $1,879,000,000 for the week ended Jan- uary 7, establishing a new low record since publication of the figures Mfil; in 1926. It compares with $1,926,000, on December 31, 1930, and the high m\‘d of $6,804,000,000 on October 2, Loans for own account were $1,206,- 000,000, compared with $1,321,000,000 on December 31, 1930; loans for out-af- town banks were $315,000,000, against $235,000,000 and loans for account of others were $358,000,000, compared with $370,000,000. Of the total, demand loans constituted $1,422,000,000, against $1,- et 347,000,000, againgt $480.000.000 ! were 1,000,000, agal ,000. The rediscount rate of the New York m’m‘ Reserve Bank remins at 3 per 4 N Dealers 6,000 workers employment improved; wheat building and materials considerably manufacturing quiet in all lines. “sales”; stocks low; cold road; stocks lowest in years; some siderable unemploy- 20 Rails. 99.9 994