Evening Star Newspaper, January 12, 1931, Page 15

FINANCIAL. *PRICES ARE MXED IN CURB TRADING Market Turns Irregular as Selling Appears in Va- rious Groups. BY JOHN A. CRONE. * @pecial Dispateh to The Star. regularit; Y?hmt(' J.g\:;r{hl?.—'n‘;: "} T y that ‘mar] e opening of the Curb Exchange today was extended ¢ @s_the session progressed. In the power and light division Elec- tric Bond & Share was off fractionally, but the rest of the group ranged nar- with gains about offsetting . Citles Service eased about a half point. Ford Motor, Ltd., was one of the most active industrials. The feature of the opening was Missouri-Kansas Pipe Line, which ap- Eelred in a block of 5,000 shares at s, off 31, following the filing of a petition seeking receivership for the company Saturday. Although this ek Tnter partially recovered, its ac- tion had an adverse influence on nau- ural gas shares. . United Gas, Appalachian Gas and Arkansas Natural Gas at stages inclined toward lower levels. The reduction of stocks of Pennsylvania Crude Oil held by major pipe line companies at the| end of last month was without effect on the market for pipe line issues in the forencon. Textile shares turned heavy, despite reports of several planned mergers and lowered alkall prices. Amoskeag Manu- facturing on a sale of 100 shares fell 8% points. Associated Rayon preferred lost 215 and the common was down a small fraction. Strength that was the outstanding eharacteristic of banking shares in re- cent sessions was lacking today. Gea- eral Baking preferred was down more than a point following official announce- ment of the recapitalization plan. Esti- mated earnings for the year ended De- cember 27, 1930, were $2.74 a share on the new common against $3.76 on the new common in 1929. Beginning of a new patent suit by De Forrest Radio was accompanied by @ slight decline in the stock. Marconi International Marine was a trifle higher. Sales in the first two hours amounted to 176,000 shares, compared with 243,700 Priday. Western Air Express was off 134 at 15, but the Test of the air shares were dull. In the investment trusts Shenandoah common at 3 was off 1}s. “EXTRAVAGANT ECONOMY”’ POLICY IS BOOMERANG Bpecial Dispatch to The Star. NEW YORK, January 12.—“Extrava- mt economy” eventually will prove a ure and employers will have to re- hire many workers, in the opinion of a ent New York banker, who has just returned from a swing around the . Encountered in Wall Street h'?:ly, he cited a specific case to prove it. point. “Down South I found a textile plant, g to Teopen. that had postponed such a move for two days,” explained the banker. “The reason for the de- lay in resumption was due to the New York office. There the company had & large order, responsible for the re- sumption of the Southern plant, await- ing to be written up, but all the order cler] one had been discharged. Unfortunately this order clerk took sick and her enforced absence caused unem- m_m& for two days for 60 opera- POTATO MARKET CHICAGO, January 12 () (Unite States Department of Agriculture).— . Potatoes—Receipts, 283 cars; on track, 193; total United States shipments, Sat- 7; about steady; trading faf ‘weight, Wisconsin, 1.60; Idaho Russets, No. 1, 1.70a1:90; 1.55a1.60; Colorado, McClures, DOMESTIC BONDS. High. Low. Noon. 9% 80'a o5 in usands. 1 Aluminum Ltd 5s Am Cmwih Pw 6s ' Amer P & L 6s 20 Amer Roll Ml 1} Appalach_Gas palac Gas Appalac G 3} Avpalach ‘Fow 55 ns P & L 55 ind 4328 °5: 55 3EnSFEsuusungg s i q"egre:g e i 2335 S5858555 190850 F 0 aug sty O SONEE §F W §o3s0 ol B 2 isen s onn B e 55 ES c 8Jer Cen P&L b B ' 2 Kelvinator_6s '36 xw 90z 902 3Lehigh P 8 6s 2026_. 104'4 104%s 1Libby McN&L 5s '42. $i'a 91% 1 Long Teland Lt 6s *45 10614 1081 &L 55 57 Y 98! 8s '51. 913 x 44 ww 103 ° 103 * 1 - 104 1042 b i ) 2% 12% Seaen rssatee oo n Ut 5i2s A '68 75 78 2 No Ohio P&L 5'as '31101% 101 1Nor Bta Pow 6'ss '33102'3 102'a 2 Nor Sta Pw A 65 '43. 1037 1037, 983, 981, $Penn O Ed 5ias B '50 9813 98y 3 Penn O Ed 6s '50 xw 103 103 20 Peop L&P 55 '79 ww. 66 68y 1067 108% 18ervel Inc 55 '48.... 70 17 BShaw WAP 4is A ‘67 94% 947 Bhay Wip 400 Du 19800 10he haw 10”1035 1034 TSE Pall 6 A'2025 xu 104 © J03%s 1 G & 2 Bothw P&L 6s 18tand Gasie o H 18witt Co 55 44 R At i A6 4 wi "oty n}‘fig Ru n wu:'-"]f.: Py, POREILO! NEW YORK CURB MARKE Note—All stocks are sold in one hundred-share lots excepting those designated by the letter s (80s) (250s), which shows those stocks were sold in odd lots. Prev 1930.~ Stock ana Dividend Rate. Affiliated Prod 1. Agfa Ansco. . Air Investors war. All AmGen Corp. Allegheny G Allled Mills (80¢)... Aluminum Co of Am Alum Ltd A war.... Sales— 3 3508 1 Am Capital (B) ... AmCityP&L B b10% . Am Com P A (b10% ) Am Cyanamid (B).. Am Equities 5 Am For Pow (war).. Am Founders....... Am Gas&Eln (11).. Am Invest Inc (B).. Am Invest (war).... Am Lt & Trae (2%). Am Maricabo. . Am Natural Gas Am Superrowr (40c) Am Supernwr 18t(6) Am Thread pf (25c). Am Ut & G B vte 20c. Amster Trad (13%) Avpalachian Gas. Arcturus Rad Tub % Assoc G & El A (a2) AssoG & Epf (5)... AsS0 G & El ctfs (8). Assoc G & Eall ctfs. Asso G&E) pur ris. . Assoc G & El war. Asso Rayon. .. Asso Rayon pf (6) Atlas Plywood (2).. Babcock & Wil (7) Bahia Corp. Bell Tel Pa p! Blue Ridge Corp Blue Ridge cv pf Brazil Tr&Lt(b8%). Brill Corp (A) (65¢). BriATcouB1.17 8-10¢ Burma rets 1. Bwana M Kubwa, Canada Marconi “ent Pub Svc A a1.76 Cent&SW UtI1(b8%). Cent 8t El (k40¢c).... Centrifug Pi Citl er. . Cuneo Press (21) Curtiss Alrports v Cusi Mex Mining Dayton Alr & Eng. Deere & Co (£1.20) De Forest Radio ) SR (A) (3%). Pow (5) East St Pow B (1) East Util Assocv, Edst Util Inv (A). Eisler Electric Corp. Elec Bond & Sh (b§). El Bond & Shcu pf 6. El Bond & 8h pf (6 Elec Pow Asso (1)... Elec Pow Asso A (1) El Pow & Lt op war. Elec Shareholdg (1). Empire Corporation. Emp G&F cu pf (7).. Emp P Ser A al.80) Europ E Ltd A (60c) Europ Elec deb rts. , Fabrics Finishing. Fischman & Sons. ... Ford M Can A (1.20), Ford M Ltd (p373%). Foremost Dairy Pr.. Foundation For Shs.. Fox Theater Cl tA).. ‘Jeneral Aviation, ' I Bak G Gen G&E cv pf B (6) Gen Laundry Mach. Gen Th ev pf w.L.(3) Gen W W&E A (1) Georgia Pow pt (). Gleaner C Harv new.. Glen Alden Coal (§). Globe Underwriters. Gold Coin (new) Golden Center. .. Guldman Sach T C Goth Knitback Mc! Grt A&P Tea n.v.(5) Groc Strs Prod v.t.e. Guenther Law (2) Gulf Ol of Pa (1% Hecla Mining (1). Hollinger Gold 185 Hudson Bay M & 8., Humble Oil (12%).. 111 Pwr & Lt pf (6).. imp O1) of Can (bue) India Tire & Rubber. Ind P&L cu pf(6%). Ind Ter 11lu 01l (A), Ind Ter Hlu O1l (B). Ind Fin ctfs (b10%). Insull Util 24 p£(6).. Ins Co of No Am (2). Insurance Sec (706). 3 1008 4 ‘nt Petroleum (1) Internat Util (B InterstateEquities. . Interstate Ecn pf(3) ‘talian Superp (A).. itallan Superp wa Kolster-Br (Am Sh). Lefcourt Realty 1.60 Add 00. Open. High, 41 14 10% 107% 2 115% 4 3214 THE EVENING STAR, WASHINGTON, D. C, MONDAY, JANUARY 12, 1931 Low. 14 Close. 140 Loe Louisia Utd G 1% % 4 9% 2 1% 21% Th 14% 21 10% 13% annual paymen stock. ble ment_dividend. 1% In stock. 3% in stock. Stock and Dividend Rate. Lefcourt LeonardOfl. Liberty Dal: Star Gasn (1).. Bos (11.10).. ne wa: . na Lan & Ex. MacMarr Siores (1). Marconi Int M(p3sc) Marion Steam Shov.. % Mavis Bottling...... Mead Johnson(13%). Memph N G Co (80c) Met & Min Ine ( Met Chain Store: Met Edison pf (8)... Mich Gas & Oil Corp. Mid St P Mid West Ut (b3%). Mid Roy ev pf (2) Nat Investors...... Nat Pow & Lt pf (8). Nat Screen Sv (2)... Sh Tr SecA (50¢). Sugar N J (2) t Unfon Radio. Naukeim Phar of, Neisner Bros pf (7). New Brad Ol (40¢).. Newmont Min (4)... N Y Hamburg (2%). Niag-Hud Pow (400) Niag-Hud Pow A w Niag-Hud Pow B w.. b:‘ll-nu 8h, Md (40¢) +“ Nordon Corp No Am Aviat A Nor Europ Oil Corp. . Nor Ind Pub 8 pf (6). B0 Ohto Copper. .. Outboard Mot ( Pennroad Corp...... Penn P & Lt pf (7)..150 Peop L& P A a2.40. Philip Morris Ine. ... Pie Bak of Am A (2). Pitney B P n (20¢).. Plymouth Ol (2).... Premier Gold (12¢). Prince & Whitely . Prince & Whitely p: Producers Royal (1 Prudential Inve Pub Ut Hold ( . Public Utll Hold war Pub Ut Hold xw 50c. Puget 8 P & Lt pf(6) Rainbow Lum PraA.. Rubberoid Co (4) 8t Anthony Gol: St Regis Paper (1).. Salt Creek Prod (2).. Schl & Zan pf (3%).. Schulte Un 6e-$1 8St., Schulte 5e-31 St pf. .. Sec Corp Gen (40c).. Seg Lock & H (50c). Selected Ind 44% Selected Indus of Selected Indus pr pf. Shattuck Den Min. .. Shenandoah Corp. .. Shenan Corp pf (a3). South Penn Oil (2).. SoCalEApfB (1%). SoCalEdpfC (1%). SouthldRoyalty (60¢) Spanish & Gen rets. . Stand Invest cum pf. Stand Of] Ind (23). Stand OIl Ky (133).. Stand Ol of Ohio(5) Stand P& L B (2) Stand Screw (8) Starrett Corp. Starrett Corp Strauss Roth Stutz Motor Scllivan Machine Sunray Oil (b6%) Switt Internat (3). Technicolor Ine Tobacco & All Stk: Tobacce Pr Exports. Trans Lux DL P 8.. Tri-Cont Corp (war) Tubize Chatel (B)... Ungerleider ¥ Corp Union Am Invest. Received by Private Wire Direct to The Star Office Bales— Add 00. Open. High. Low. Close. eal pf (3). 20% 21 20% 21 Seree % t vte B.... POLE WOULD ADD 10 BANKING ACT Tells Congress Amendments Are Needed in Connection With Branch Banking. John W. Pole, controller of the cur- % | rency, in his annual report to Congress, recommended that the McFadden act be amended to incorporate the follow- ing: “That national banks situated in such cities be permitted, with the ap- proval of the controller of the cur- % {rency, to establish branches within the Mént Lt Ht&P (1% Mount Prod (1.60). » E Tt PP =113 I ST TP TPy S o =N 30 . » O A AN N e D DA AN DN A N0 TN D Utd Found b2-35 sh. Utd Ret Ch pf (3%).. U S Elee Pow ww. .. U 8 Foil Co B (50c) Util P& Ltat1.023, UtP&LefsB at1.02%. Util & Ind pf (13%4).. Utility Equit! Vacuum (4).. Van Camp Pkg pt Venesuela Petrol. Watson (J W) Co walker (H) (1) Wayne Pump. eee West Air Exp (60c).. Wil-Low Cafeterias. Wright Hargreaves. Zonite Products ¢13.. 1. RIGHTS. ‘Expire. Com_Edison..Feb 2 Pub Srv N Iil Dividend rates in dollars 8 13% 18% Feb.2 2 21 20% 20% based on last quarterly or semi- tPartly extra. iPlus 4% in b Payable in stock. e Ad in_ stock. lus 6% in stock. h Plus Jus 2% in stock. k Plus 10% in stock. m Plus us 8% in stock. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS NEW YORK, January 12.—The fol- {lowing is & summary of important corporation news prepared by Standard ' Btatistics Co., Inc., New York, for the Assoclated Press, Weekly News Review. The feature of the past week's secur- ity markets was the sustained advance in bond prices, In the five and one-half trading sessions the Standard Statistics’ price index for 30 high-grade issues gained 1.5 per cent, while increases of quotations of second-grade obligations were even greater, Offerings of several new rail and utility bonds during the week were well received. ith the pres- ent favorable background of low interest rates and commodity prices expected to obtain for some time, a continuance of the uptrend in the bond market is likely. Price Movements. Stock price movements were distinctly jrregular but changes were mostly up- ward. The average price of 90 issuss gained about 0.5 per cent. issues displayed best strength, principal |* stocks recording an average price gain of 36 per cenl. Net increases the price indexes of industrial and utilities stocks were slight. ity variations, on the whole, were mod- erate, B , cotton and grains were rubber advanced about 35 silver to a new record low. Because of its influnce on exchange ratés and pur- chasing power of silver countries, weak- ness in this commodity is especially dis- turbing. Other commodities recording declines were tin, copper*®and lead. Analysis of the commodity situation at this time indicates that the statistical position of most products is unfavorable. An important reversal in price trend i not expected in the immediate future, although improvement in general trade by the steond quarter should effect tel_i‘s'gonry stabilization in values. e call monéy rate returned to its preholiday level, renewal charge drop- ping to 135 per cent with funds offered outside the Exchange at 1 per cent. Federal Reserve statement of operations during the week ended January 17, showed dally average volume of Federal Reserve Bank credit outstanding de- clined by $44.000,000, while money in circulation fell $107,000,000. Brokers' Joans during the period declined by $47,000,000. In the preceding week an advance of $6,000,000 was recorded. To- tal borrowings now stand at $1,879,000,- 000, the lowest since December, 1024, and $4,925,000,000 below the high rec- ord established October 2, 1929. As prices advanced (average about 6 per- cent), in the period fluflnf which lat- ést decline was registered it would pear that public participation in generally felt that short o uk ly fel cove! an investment buying are responsible for the improvement in stock prices. Indices Unfavorable. Indices of industrial activity publish- ed during the week were mostly unfavor- able. An exception was the steel figures. price | Operations throughout the steel indus- try as a whole have recovered sharply from their low levels of the year end B O R R T able nature was the United States Steel Corporation’s unfilled tonnage statement which showed backlog expanded 303,960 tons during December. This is the largest gain registered in any month since December, 1927. Total of 3,943, 596 tons is the greatest since July rmst year but 473,597 below the figure of a year previous. Freight car loadings during the week ended December 27 totaled 38,419 cars. This was a decline of 15.7 per cent under the like week of 1929 and 19.4 per cent smaller than in the 1928 period. For the full year of 1930 freight trafic dropped 13.1 per cent below 1929 and 11.1 per cent under 1928. Electric power production throughout the country in the week ended January 3, was lowest in two years. Decline from same period a year ago was 4.9 per cent and from the same period two years ago, 1.2 per cent. The drastic holiday shut-down is believed to have been largely responsible for this especially poor showing. Building con- tracts awarded the States east of the Rocky Mountains durifig December were some 1.5 per cent lower than in the preceding month and 21 per cent under the same month of 1929. Resi- than tion as a whole, indicatin, anticipated revival in this division is not yet in evidence; public works and utilities constituted the only branch of major importance to reveal an upward trend from & year earlier. limits of such regional trade areas. “That the paid-in capital stock of such a national bank shall be rot less than $1,000,000, and that the ratio of capital and surplus to deposits shall be maintained at not less than 1 to 10. The controller of the currency would, in his discretion, require a larger capital- ization. “That the national bank consolida- tion act be amended so as to permit any bank situated within the trade area to consolidate, with the approval of the controller of the currency, under the national charter, but the controller of the currency should be specifically em- powered to disapprove any such con= solidation upon the ground that it might result in an' undue concentration of banking capital within the trade area. “That there be conferred upon the controller of the currency such visitorial powers as may enable him to examine into the affairs of any corporation which owns or controls the majority of the stock of any national bank. Stock Ownership Restricted. “That no corporation be permitted to own the majority of the stock of any national bank it at the same time lo:n: the majority of stock of a State nk. “That no national bank be permitted to make a loan upon the security of the stock of a corporation which may own the majority of the stock of such na- tional bank.” It would be highly desirable to pre- serve as much as possible the element of local autonomy in the establishment of trade areas, provided the areas are not so small as to sacrifice the princi- ple of economic diversification. The new policy of branch banking should be uniform in its operation throughout the Nation, thereby giving to every rural community an oppor- tunity of access to strong city bunktng facilities under national supervision an control. Elements in Trade Area Banking. It may, therefore, be sald that the following elements contribute to the definition of trade area branch bank- ing: (1) ‘The principal objective is to strengthen banking operations in the rural communities. (2) A secondary but not less positive result would be a strengthening of the entire banking structure of the country. (3) The surrounding geographical territory economically tributary to a city and for which such city provides the chief mali’k:dt and fltnngchl center may be_described as its trade area. (%) Every city may be sald to have a trade area, but not every trade area is suitable for branch banking purposes. (5) In order to lay the basis for & sound system of branch banking & trade area should embrace within its physical limits a diversification of eco- | g nomic activities in order that & bank operating branches throughout its ex- tent may also acquire a diversification in the security for its loans. (6) For branch banking purposes, therefore, only those trade areas should be chosen which surround cities impor- tant enough to be the commercial center of a territory sufficient to meet the re- quirements of economic diversification. Status of City Banks. () Since the trade area under dis~ cussion is a regional economic area for banking purposes, the status of the banks in & given city will furnish & guide to its character and extent, par- ticularly the number and location of the surrounding country banks for which they are the principal bank corre- spondents. p‘!’ll It would be a difficult under- taking for a committee composed of the three officials mentioned to select the principal commercial centers of the country for branch banking purposes. (9 Upon the selection of such a city the determination of the boundary lim- its of its trade area would be a question of fact and cguld ‘egsfl){, I:‘emdi.!cnvfl;:d through a study of its banking opera- tion:‘glnd its general trade influence and itlon. / mé’osnwcunent of legislation vesting authority in the controller of the cur= rency to examine security or investment companies affiliated with national bank- ing associations is recommended. These companies are generally so closely allied with the national association that it 15 not always possible to ascertain the true condition of the national association without knowing the exact condition of its affliate. As to Fiduciary Powers. The controller renewed his recom- mendation for amendment to the law so as to provide that the exercise of fidu- ciary powers shall be one of the corpor- ate powers of a national banking asso- ciation, subject to the existing limita- tions in regard to the State laws. Also that the controller be given supervision over national banks going into volun- tary liquidation. Under the present law, the controller’s authority is limited to the appointment of a receiver, provid- ed a bank in liquidation should prove to be insolvent. Further, that it be made a criminal offense to maliciously, or with intent to deceive, make, pub- lish, or circulate any false report con< cerning any national banks or any other member of the Federal Reserve system which imputes insolvency or unsound financial condition, or which may tend to cause a general withdrawal of de- posits, or otherwise injure the business or good will of such & bank. CHICAGO DAIRY MARKET. CHICAGO, January 12 (&) —Butter— Receipts, 9,978 tubs; easier; creamery, extras (92 score), 27; standards (90 score) (car lots), 27; extra firsts, (90-91 score), 25%a26 firsts, (88-89 score), 241;,a25; seconds (8 score), 23a24. ipts, 10, cases; unset- fresh, graded, —on improved Real Estate in Washington and its suburbs . . o for building or refinancing completed properties. Reasonable terest and prompt cision. In requesting loan, specif R, St its approximate vi lon. setute "By mproved "o estate. rate of in- de- Capital Resources Over $3,000,000 A 1610 K ST. N.W. |AUTOMOBILE TRADE IN BETTER POSITION Stocks in Dealers’ Hands Have Begn Reduced by Check on Production, By the Associated Pres:. motor industry, & much-har- rassed business in 1930, faces the new year with considerable confidence. The industry, as represented by na- tional associations, does not expect 1931 to be an abnormal year, but, on the contrary, a year decidedly below normal. But even thus, a decided im- provement over 1930 is expected. It has been established rather defl- nitely that Jrndumon during the last year totaled approximately ' 3,450,000 units, as compared with about 5,600,000 the previous year. Total sales, a con- sensus of reliable estimates indicate, will approximate at least 3,550,000, thus depleting the new car stocks in dealers’ hands by at least 100,000 cars. It has been estimated the used car market was depleted by at least 250,000 units last year, which will tend to widen the new car market by that much. Registrations of cars and trucks dur- Ing the year increased about 200,000 and on January 1, last, stood in the neigh- borhood of - 26,700,000. ‘The industry’s estimate for 1931 sales vary from a maximum of 4,150,000 to a minimum of 3,750,000 units. Taking the smaller figure, the apportionment is as follows: Replacements, 3,150,000; new users, 200,000, and foreign, 400,000 units. Profits are expected to be held FINANCIAL, Banker Stresses Good Opportunity For Investments Speoial Dispatch 0 The Star. NEW YORK, January 12.—Wall Street was particularly interested today in that part of the address of A. H. Wiggin to the stockholders of the Chase Bank in which he said: “I do not know whether we shall see lower prices in the stock market or not, but I do know that there are many securities, both stocks and bonds, which are now selling for less than they will be worth in normal times and at prices which should prove at- tractive to the investor.” ‘This is roximately the same point of view en Paul M. Warburg a tewd.lnmue:mdlthflnofleeon- monly held by leading bankers. Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., January 12.—Po- tatoes, white, 100 sweet potatoes, barrel, 2.00a4.00; yams, barrel, 2.25a3.25; beans, bushel, 6.00a 8.00; heets, crate, 2.75a3.00; cahbage, ton, 22.00a23.00; carrots, 100, 2.00a4.00; caulifiower, crate, 2.00a2.50; celery, crate, 1:50a3.00; eggplant, crate, 1.50a 2.50; kale, bushel, 75a85; lettuce, ham- per, 75a1.25; crate, 1.50a2.50; down by the reductions in prices, which | berries, already have been cut drastically, with more to follow. Shipments of all automotive products from the United States during Novem- ber were valued by the Department of Commerce at $15,189,038, a decrease of $11,940,925, or 44 per cent, from the corresponding month of the previous year, and $547,249, or 3.4 per cent, less than October. The average monthly export value for the January-November period was $25,664,749. Washington Produce Butter —One-pound prints, 35a36; tub, 33a34. 33a35; Hennery, ceipts, 30a32. Poultry, alive—Turkeys, young, 35a36; old, 30a32; chickens, 28a30; fowls, heavy, 24a25; small, 22a23; Leghorn fowls, 16; roosters, 13; ducks, 15; keats, large and young, 50a60; old, 25a30. Dresced—Turkeys, young, 40a42; 35a36; chickens, 32a33; fowls, heavy, 27a28; small, 22a23; Leghorn fowls, 18 820; capons, large, 37a38; small, 32a35; ducks, 24a25; roosters, 15; keats, young, 70a80; old, 40a45. 18a23; veal, 18a23; Meats—Beef, lamb, 19a2. pork loins, 21; fresh shoulders, fresh hams, 22. Smoked —Hams, 20; shoulders, 18; bacon, 27. Lard, in bulk, 111%; in packages, 13%2. Game—Rabbits, 20a30. Live stock—Calves, 11%2; lambs, 8. Pruits—Strawberries, 50a70; oranges, California, 3.00a5.00; Flerida, 2.50a3.50; pefruit, 2.50a3.00; tangerines, 1.25a flo: pineapples, 4.00a5.00; pears, box, 4.00a5.00; persimmons, 1.00; lemons, 6.00; apples, bushel baskets, 1.00a2.00; box, 3.2523.75; grapes, Emperors, 2.50; Almeiras, 2.75. Vegetables—Potatoes, 150-pound sacks, 3.25; new potatoes, Florida, 2.00a2.50, mostly 2.50; Idaho bakers, 100 pounds, 2.75; sweets, per bushel, 1.50a2.00; Caulifiower, 2.50; str] 5.00a 8. egg. plant, 2.50a3.00; parsnips, 1.25a1.50; beets, ver 100 bunches, 5.00a carrots, per 100 bunches, 5.00a tomatoes, 3.00a4.50; peas, 8.50a squagh, Hubbard, 3.50a4.00; mar- 4,00; cucumbers, Florida hot house, spinach, 1.00; kale, 75a 1.00; mushrooms, broceoli, 3.5024.00; . peppers, 3.00; beans, Mexico, 4.50; Icebu lettuce, 4.0024.50. NEW YORK COTTON NEW YORK, January 12 (Special).— Opening cotton prices today were 2 to 8 points lower, with the heaviest selling in near months. Once in the weak- ness was traceable to a batch of bear- ish statistical reports issued over the Y veniae pri January, new, ming _prices were 3 h 10.01, off 8; March, 10.19, off 5; May, 1044, off 5; July, 10.64, off 6; October, 10.75, off 2; December, 10.89, off 2. PIG TRON PRODUCTION. NEW YORK, January 12 (P).—Pig fron production’ in the Chicago district remains unchanged at 65 per cent of capacity, Dow, Jones & Co. reports, with four to six stacks active. The Westinghouse Electric & Manu- facturing Co. has recelved an order from the Salt Lake & Utah Railroad for a new 60-ton electric locomotive. current re- Tow, per dozen, 2.00; ———e General Electric Stockholders. NEW YORK, January 12 (#).—Stock- holders of General Electric Co. increased by 56,376 during the period from Decem- ber, 1929, and December, 1930, to & total of 116,750, the largest in the com- pany's history. Most of these are hold- ers of the company’s common stock, of which theer were 105,150 on record De- cember 19 last. A certain proportion also own the company's special stock, and, in addition, 9,600 individuals own lEclll stock only. First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. REAL ESTATE LOANS Made at Low Intersst Rates TYLER & RUTHERFORD larly on for 3. 5 or 10 years, if so desired. 1520 K St. N.W. National 0475 Money on Hand to Loan on . First Deed of Trust 6% Interest Reasonable Commission and Prompt Replies to Applications JAMES F. SHEA 643 Louisiana Ave. N.W. On our liberal 20 monthly repayment plan. No indorsers required. A strictly dignified and confidential service. gerines, box, 1.0081.75; apples, bushel, 5082.00; per box, l.?fifl]‘:’ Dairy Market. Poultry, alive—Turkeys, old, 25a32; chickens, §) Leghorns, = 18a22; barebacks, 14a15; old hens, 18a25: Leghorns, 14al7; zoasters, 12a15; ’:ucn.hls;o:fi 55 geese, 14a ; guinea fowls, each, 30a60; s, pair, firsts, 15820, B Eggs—Receipts, 786 cases; nearby firsts, 30; Southern firsts, 28; hennery whites, 31a32; currents receipts, 28. Butter—Good to fancy creamery, pound, 28a31; ladles, 22a23; rolls, 16a 18; process, 27a28; store-packed, 13. Live Stock Market. Cattle—Receipts, 400 head; supply; market duil. Steers—Chol F1.00; medivin o gooc to medium, 7.5008.50; d, 38a40; TS, 23a26; plain 10 fair, choice, none; medium to good, 5.50a GM.IDO; fair to medium, 5.00a5.50; plain b lrs.n 4.50a5.00; common to plain, | M .50. Cows—Choice to prime, none; good to choice, 5.50a6.00; medium. to good, 4.%a5.25; fair to medium, 4.25 a4.50; plain to fair, 3.00a4.00; common to plain, 2.0023.00. Heifers—Chcice to prime, none; good to choice, 8.00a8.5¢ | medium to good, 7.25a7.75; fair to me- dium, 6.25a7.00; plain tay fair, 5.50a 6.00; common to plain, 4.50a5.25. Fresh cows and springers, 40.00a80.00. She¢p and lai light ly 5 Bh:lep. 1.50a4.00 1bs, 4.501 hs, 62587 .gn;u‘m , roughs, 6.25a’ H h pigs, 8.90a9.00. . Calves—Receipts, 350 head; light sup- ply; market steady. Calves, 5.00a12.50. Hay and Grain. ‘Wheat—No. 2 red Winter, export, 80; January, 80; February, 81%. m—No. 2 domestic, yellow, 82a83; cob corn, new, 4.25. Rye—Nearby, 55a60. Oats—White, No. 2, new, 44a45; No. 3, 43a44. Hay—Receipts, none. General hay ht has market stre: chang- here- old, ngthening. Drougl seriously curtailed nearby crops, ing the entire situation. tofore shipping are now asking for of- fers of hay. Good clover mixed and timothy new hay will bring from to 28.00 per ton. ‘Wheat straw, No. 1, per ton, 9.00a i}o.ss:‘ut straw, No. 1, per ton, 9.00a e, TREASURY CERTIFICATES. (Reported by J. & W. Sel & Co.) o A s June 100 3-83 2%s June s Sept. 3'as M 100 nds, 1.25a1.75; | 6.507.50; common to plain, 5.50a6.00, | Mclelian Bulls—Choice to prime, none; good to > 24.00 | § eR A-IS CHAI STORE SALES DROP DURIG 193 Mail Order Business Slump Important Factor in Decline of Only 4.8 Per Cent. 8pecial Dispatch to The Stir. NEW YORK, January 13.—Total sales of 24 of the leading chain store sys- tems of the United States show a drop in sales for 1930 compared with the previous year, according to figures pre- pared by George H. Burr & Co. This is the first time chain store companies 48 & group showed a drop in sales com- pared with the previous year, since compllation of figures started. The greater portion of the decline in sales for 1930 was due to the sharp falling off in volume of the mall order chain store systems and other mer- chandising companies . which transact most of their business in the agricul- tural sections of the country, such as Montgomery Ward & Co., Sears, Roe- buck & Co. and National Bellas Hess Co. F. W. Woolworth & Ca also showed a sa1p drop in sales, but some of the smaller specialty chain store sys- tems recorded increases in sales. According to the figures, 14 of the 24 decreases in E tems decreases in sales xer',"a- year 1 compared with 1929, Total sales of the 24 systems for cember aggregated $228,324,332, $251,194,354 for December, 1929, crease orm Tln.rlo.on, or 9.1 T the year 1930 sales aggregat $1.865,056.405, against $1,044,281,327 ‘!‘; 1929, & decrease of $79,224,922, or 4.08 per cent. Sales in December. Sales of the individual systems December and 12 months fl:flw: it Sears B, Wooohenrin: et | & 5 e W. Grand-Silvef RN el $228,324,332 °% Twelve-Month Sales. Bears Roebuck..... 3 *$50,283. Sefeway " Stores: 5 g e National Tea 8. H. Kress i) EasugEnags el Fo! No. 2 red Winter, garlicky, spot, 80; |Edison o, 'omon TO PURCHASE. NEW YORK, January 12 (#).—The Exchange has received 1932. The option is not whole or in part unless te gross zales of the co: tion billed for any six-month pe: from January 1, 1831, shall ext:eed by nl“ {,emuetd :ooou;-:o the gregate gross sales or the same six months of the period from January 1, 1830, to Ji 1, 1931. Money to Loan Secured br first deed of trust on real estate. mnmnw rest ‘g.w.l.l‘l P l:l Joleph L. Weller Bldg., 9th & F N.W. ' Equitable Co-Operative Bldg. Ass'n Organized 1879 JOHN JOY EDSON, President Assets ..........$5901,122.48 WALTER S. PRATT, Jr., Secretary Surplus & Profits...........$1,818,655.92 Subscription for the 100th Issue of Stock Being Received Much Is Accomplished —where a set plan for sav- ing is adopted. Make 1931 a banner year financially. We will gladly explain our systematic saving plan. 915 F St. N.W. 51st YEAR COMFL.ETED Company offers many desirable as— Sound Home Financing The Real Estate Loan Plan of the Metropolitan Life Insurance you terms that" put the putchase of your home on a satisfactory basis. We invite you to consider the features, such Loans for Fifteen Years Low Interest Rates No Life Insurance Required Construction Loans in Any Amount - WEAVER BRO REALTORS oan Correspondent “I Company Washing®n Buildh Mort . District 9486 ) L¥e Insurance Loans made in the D et Maryland of Columbia and nearby Virginia