Evening Star Newspaper, January 13, 1931, Page 14

e - 11.S. POSTAL SAVING ACCOUNTS GROWING Increase of 200,000 Report- ed in Depositors During Last Six Months. BY J. C. ROYLE. ‘Tndividual depositors in postal sav- ings accounts ‘have increased by 200,- D00 in the last six months. Most of that number have been added in the last three months. This is generally attrib- uted here to the fear which the fail- ures of banks in some. sections of the country have instilled in individual de- itors. This fear is unwarranted in except a few cases, bankers and Fed- eral officials say, but none the less there have been a comparatively large number of tailures in the last 12 months and depositors are turning to Uncle Sam to safeguard their money. ‘There has been a very substantial in- icrease since June, 1930, in the total de- posited with the Post Office Department according to W T. S. Rollins, director of postal savings. This, he says, has been due to general economic condi- tions. Hawever, figures show that the stal savings depositors in New York g?ty have increased 23,000 recently and this is attributed to the failure of a New York bank in December. Totai $236,000,000. According to the latest available offi- clal figures the total amount deposited approximates $236,000,000. As of De- cember, 1929, the deposits amounted to $153,644,000. On the first day of 1930 the individual depositors totaled 416,584. This number rose to 466,401 in June, 1930, and 200,600 have been added since. Postal savings were started January 1, 1911, and have grown steadily. ‘The Postoffice Department has had its attention called to thé practice, which has recently sprung up, of in- dividuals taking money drawn from banks and buying money orders to themselves with it. This is only a tem- porary safeguard, but-gives protection and at the same time makes the cash readily available at any time, the pur- chasers declare. Money orders are cashable at post offices for one year from the last day of the month in which they are issued. After that the money to pay them is turned over to the Treasury Depart- ment and they can be paid only on Ppresentation of a warrant drawn on/| the Treasury Department. This pro- cedure has been established by an act of Congress. It is estimated that there is in the Treasury something approxi- mating $12,000,000 which has come in from the Post Office Department for money orders unpaid since 1894. The annual volume of money orders aver- ages about $1,250,000,000. Decided opposition now exists at the ‘Treasury against any increase in the borrowing limit of veterans' adjusted service certificates. It is estimated that 1,600,000 veterans, or about one-half, have already borrowed up to the limit of their certificates, which is about 221, per cent of the face value, and it is as- serted that if it is made too easy borrow now the veterans will be with- out this protection at a time when years have made them less able to meet the situation than they are at present. Money in Circulation. * Bankers are pointing out that the ap- peals to put money into circulation should not affect habits of thrift which have become established. They declare that money is as surely put into circula- tion by depositing it in savings accounts as by spending it. In one instance the merchants put it into circulation and in the other, the banks, since the main business of the banks is to loan money deposited by clients to make possible and encourage legitimate business en- banker's success depends on his ability to put into the hands of con- structive spenders a part of the funds Which the depositors set aside for the future. They point out that building and loan associations financed struction of 500,000 homes in 1929 while the securities purchased by banks in 1930 furnished funds for a large volume of construction with attendant employ- ment of many workers, (Copyright. 1931.) REDUCTION IN ACCIDENTS AT CROSSINGS IS NOTED A marked reduction, compared with the preceding year, in the number of Accidents at highway grade crossings is shown by reports for the first nine mol‘;‘lh:wgéhl?fi just filed by the rail- o8 the Interstate Commerce O ceidera: 'nts at highway grade crossis totaled 3,380 for the nine-month Delncsm a reduction of 709 compared with the same period in 1929. Fatalities result- ing from such accidents totaled 1,448 in the first nine months of 1930, a reduc- tion of 263 compared with the first nine months of 1929, while persons injured 50 far this year totaled 3,831, a reduc- E&n of 853 compared with the year ore. = OIL PARLEY PLANNED. By the Associated Press. A conference of representatives of oil- producing States is scheduled to take plac: here January 15 to consider measures to relieve the industry on call and Okla- of the Governors of Kansas homa. The conferees say that 300,000 wells with a daily capacity of 500,000 barrels are threatened by present con- ditions which are aggravated by oil imports. Each Governor has been asked to send 20 representatives of the oil in- dustry and 5 representing the State generally, FOREIGN EXCHAEGE. (Quotations furnished by W. B. Hibbs & Co.) N Nominal gold Selling checks value today. . 14.8665 34.85) London, pound.. 3 e Paris, 17.46c o 2966 ‘3967uc 1.22¢ . . 268c 26.8c Oslo. . : 268c Siocknoim, erown. . TREASURY CERTIFICATES. (Reported by J. & W. Seligman A Dec. 15, o3t 3 134 June 18. e SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) Allis-Chalmers Co,_5s American Tel. & Tel American Thread Siis 1 itimore & Ohio 4135 193: FINANCIAL. THE EVENING. STAR, WASHIN YTON, D. C., TUESDAY. JANU ARY - 13, " NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The. Star Office. (Continued From Page 1: Stock ana Dividend Nash Motors (4). Nat Acme (80c).. 68% Nat Biscuit (2.80) Nat Cash Reg A (3). Natl Dairy (2.60) Nat Dept Store. 2 ®NatDist Products(2) 2 NatLead (5)........ 1 Nat Lead pf (AM(T). 30s Nat Lead pf (B) (6).150s Nat Pow & Lt (1) 24 Nat Radiator. Nat Steel (2) Nat Supply pf (7) Nat Surety (5). 23 5 15 14 31 Y & Harlem Y Invest (1.20). Y N H & Hart (6) N Y Ont & Western. . N Y Steam pf(6).... 20s Norf & West pf (4).. 708 North Am Aviation.. 15 Nor Am (b10%stk).. 112 North Amerof (3).. 3 North Am Eapf (6). 2 Northern Pacific 15). & Norwalk T& R pf... 408 Nunnally Co... R Oh1o 011 Co (2)..... Oliver Farm Equip. . Oliver Farm Eq ev pt Otis Elevn (234). Otis Elev pf (6) Owens I11 Glass (3). Pacific Gas & El (2). Pacific Lightine (3). Pac Tel & Tel pf (6). Pack Mot Car (60¢).. Pan-Am Petrol (B) Param'nt Publix (4). Park Utah . Parmelee Transport. Pathe Exchange. . . Pathe Exchange (A) Patino Mines....... Peerless Motor Ca: 4 Penick & Ford (1) Pennev (J C) (3) Penney (JC) pf A (6) Penna K R (4) People's Gas Ci Petrol Corp (1%)... % Phelps Dodge (2). Phila Read C& I.... Philip Morris&Co(1) Phillips Pet (2) Pierce-Arrow A (2).. Pierce Oil pf.... 4 Pierce Petroleum. Pitts Screw (1.40). .. Pittsburgh Unit Cory Pitts Unit Cp pf(7). i Pittston Co (1%). Poor & Co (B) (2)... PR Am Tob A (314) Postal T&Cpf (7).. Prairie O1l & Gas (2) Prairfe Pipe L (5).. Pressed Steel Car Proct & Gamb (2.40) . Prod & Refiners PubSv N J (3 4 Pub Sv N J pf(7). Pub Sv E & G pf (6. Pullman Corp (4). Punta AlegreSugar. . PureOil... Pure Ofl pf (8) Purity Bakeries (4). Radio Corp ....... Radio pf A (334). ... “adio Corp (B) (5). Radio-Keith-Orph A. Raybestos Man 2 60. Reading Rwy 4). Rem Rand (1.60). ... Rem-Rand 1st pf (7) Republic Steel. . Republic Steel pf. ... Revere C & B pf (7). nolds Metals (2). 4 Reynolds Spring.... 3 Reynolds Tob A (3).140s Revnolds Tob B (3). 13 Rhine WELP (2.14). 1 Richfield Of1. 0 Rio Grande Ofl Rossla Insur (2.20 Royal Dutch 13.21 Safeway Stores (5).. St Joseph Lead (2).. St L-San Fran (8)... 8t L-San Fran of (6) Savage Arms (2).... Schulte Retall Strs Schulte Retail pf (8) 1008 33 N N N 32 347% 461 2% 80% 4814 128% 118% 60% 32 4015 5 . 18 208 3 105 1 4 91 1 1 4 1 . 46 8 108 1 6 1 1 1 1 3 8 Servel Inc Shattuck( i Shell Trad (a2.423). Shell Union Ofl. Shell Un Ofl of (53%) Shubert Theaters Simmons Co. ...... % SineclairCon O1l (1).. Skelly Oil... Skelly Ofl pf (6 % Solvay Am pr ww 5% Sou P Ric Sug (1.40) Southern Cal Ed (2). Southern Pacific (6). Southern Rwy (8)... 4 101 136% 46% 57 Sales— ate. Add 00. High. Low. Myer (FE) & Br (2). 152 B40% 3.) Divi Sparks o Sl b ploe i Stand 9% 30% Sterlin: Stewar Sun Of1 4 Thomp. Tide W: Tide W Tide W 2 Tobace: % Tobace Transa i Ulen& Und-El Union Bag & Union Carbide (2.60) Un Oil of Cal (2) tnion Pacific (10). .. Union Pacific pf (4). Un Tanl Utd Afreraft. ... Unit A United Unit Coi 4 US Frel U S Ind U S Rul U 8 Ste Univ P Univ Pi Vanadi Va-Car Vulean Wess O W 4 Westin Wilson Worthl; Yellow 10:30 AM 1:30 P.M Dividend rates in_stoek. ' . 3 % in 55% 3% in stock. m Plus Stock and idend Rate Spalding 1st pf (7) Spicer Mfg. Stand Brands of (7). Sterl Sec cv pf (3) Stone & Webster (4). Studebaker Coro (3), Submarine Boat. Superior Oil Saperior Steel. Symington (A) Texas Corp (3) Y Tex Gulf Sulph (4).. Texas PC&OIl... Third Nat Inves Thomp-Star pf (3% &« Timken Roller (3 Trico Prod (2%) Tri-Cont Corp. ...... Tri-Cont Corp pf (6). Truscon Stl (g1.20).. UnitedBiscult (2)... Utd Corp pf (3) Utd Electric Coal Utd Fruit (4).. Utd Gas & Im (1.20). Utd Gas & Im pf (5). U S Express. U S & For Sec 1.¢ (6). U 8 Leather... U S Leath pr pf USPive&F (2).. . U S Realty&Imp(3). U S Rubbe o U S Smelt & Ref U 8 Steel (7). Utd Storas (A)...... Utd Stores of (2%). Univ Leaf Tob (3).. Util P& S (A)et2.15. Va El & Pow pf Wabash. . . Waldorf Systm (1%) Walworth Co (2).... Ward Baking (B) . Warner Bros Plct. Warner Quinlan. Warren Bros (3).. War Bros cv pf (3) Penn El pf (6). Penn EI pf (7). Penn Pw pf (6) Penn Pof (7).. Western Dairy A (4) 4 Western Dairy (B) 14 Westingh'se A B (2). 2. Woolworth (2.40) Youngs Spring (3).. Zenith Radlo. .. 8% Peop GasChi..Jan15 20 Sales of Stocks on New York Exchange. as given in the above table are the annual cash | payments based on the latest quarterly or hy Ayments based on the latest qu y alf vearly declarations. Prev. Close. Close. 11 111 10% 10% 10% 11 5% 5% 17% 17% 9 3 Withing (1, May- . rands(1.20).. 119% 11 3 Stand Oi1.Cali(h2%). Stand Ol Bxp pf (5). Stand Oil of Kan (2). 4 Stand Ol of NJ (12) Stand Ofl N Y (1.60). 24% 4% 344 18 44% 23% Y% 40% 1% 8 5 311 < Seo (A) t-Warner (3). (1), son Starrett. . ater As (60c) ater As pf (6) at Ofl (pf (5). 0 Product. 0 Prod A t95c¢. merica (1)... Co (1.60) ... 1-Fischer (). Pap B r k Car (1.60).. BB a@ 8B clRanSmar na i ShnemnEes reraft pf (3). Carbon (1 S rporation 2 ight Alco bber 1st of . ). 8 8 el pf (7) % | pe & Rad.... pe & R pf (7). EI TIPS - JETO S TYOTOT lum Corp (3) Chem Det (4) &S0 pf (4).. g E & M (5) & Co pt 48% | ngton Pump. Truck. .. s 2570 RIGHTS—EXPIRE. 12 11% 285.900 1.233,400 00 Noon. 10 P.M .. 893,500 - 1,334 100 shares. tPartly extra. : Plus 4% 9 Plus 9% in stock. a Paid last year e in stock. d Payable when earned. Plus 8% in stock. & Plus 6% in stock. § Plus $1 'in preferred stock. k Plus 1% in stock. nPlus 5% in stock. PUBLIC UTILITIES United States, other than for railway operations, over State lines. This is in contrast with the compilation of the National Electric Light Associa- tion for 1928, showing exports of cur- rent to have been 10.9 per cent, which has been largely used as the basis for opposition to the proposed Federal con- tricity consumed in 1929 in the whole‘ . | however, was greater by $21,000,000 than | fi SHOW STEADY A Total Income for First Ten| Months of 1930 Estab- lishes Record. BY GEORGE E. DOYING. One of the most remarkable situa- | tions to be noted in connection with the general business situation is the show-‘, ing of increased gross and net earnings by the electric utilities. A steady climb_ upward, month by| month, has been shown in gross earn- ings curing the last four years, and the total for the first 10 months of 1930 is ! reported now by the Census Bureau as | the highest of any year recorded. This likewise is true for net earnings during | the same period. Net Income Gains. While the increase in the gross for | the 10 months of 1930 was not as great | as that shown for a similar period in | less the former figure shows a healthy growth and portrays a most favorable | condition when considered in connection | with the general curtallment of busi- ness. Net earnings in 1930 were greater in each month then in the corresponding | month of 1929 except in January, when they were the same, and in July and August, when there were slight de- creases. The net for the 10 months, for that period in the previous year, and more than $200,000,000 greater than for the first 10 months of 1927. In fact, the 1930 net for 10 months was more than $60,000,000 larger than for the entire year of 1927 and only about $33,- Co. 58 1 eazace 'acking Co. 5'as 1937.. 97 Accep. Corp. 6s 1937 103 St Bl e B Goodyear T. & R 5s 1057. ri uni of Canada 6s Ol 'of e 5o 1381 E:l-hk Sl "8 1032 8415 89's i 1021 99 000.000 less than the entire year of 1228. gross earnings in the 10 months of 1930 to- taled $1,959,174,990. The net for that period was $835,496,406. Few, if any, 1928 as compared with 1927, neverthe- | 4 trol. The large difference between the two figures is not due altogether to an in- crease in the amount of electricity used, but reflects in part a more thcrough erence in classification of items. However, even the apparent interstate movement of more than one-fifth of power consumed will not be accepted by opponents of Federal control as a suf- ficient reason for such control. They may be expected to insist that a large proportion of the interstate movement is confined to comparatively small sec- tions of the country. For example, while the East South Central States of Ken- tucky, Tennesse, Alabama and Missis- sippi import 42.64 per cent of the power consumed, the Pacific States of Califor- nia, Oregon and Washington import only 2.77 per cent. INVESTMENT TRUSTS NEW YORK, January 13 (#),—Over- the-Counter Market: All Am Investors A A Bid. Asked. TR 7 7 A til ‘& Gen pf. ... Assoc Stand Oil Shares. Atl & Pac Int units Atl & Pac conv... All & Pac pf war r Share ‘Ser. e k Share Ser First Amer Corp.... Pixed Trust Shares A.. Fundamenta] Tr Shares Fundsmental Tr Shar Gude Winmill Trad. Incorporated Equitics Incorporated Investors Independence Tr Shares. Investment Trust of N ¥. Invesiors Trustee Shares s Invest Assoc dustry ... 3 - B Netion-wide Secur ".’:. National Indust Shares Y Bank & Tr Sh Power & Rail Trustee Shares P i 8h. tected Tacome. awmut Bank Spencer Trask P Eoascnsadion: FES " IR # b compilation of data and in part a Qiff- « | Peoples Natl CRUDE CiL OUTPUT | 8,427 Barrels, Says Trade Journal. By the Assoclated Press, 3 TULSA, Okla, January 13.—Daily| average crudée oil production in the United States decreased 8,427 barrels in the week ended January 10, totaling 2,081,010 barrels, says the Oil & Gas | Journal's report. shifts in their output, the greatest change being in Oklahoma, where an in- crease of 8195 barrels was recorded. The Oklahoma production was 456,940 barrels. The total for the Midcontinent area 2,624 barrels. The largest decrease in 235,394 barrels. and Kansas, which had a drop of 2.590 barrels with an output of 105,620 narrels. Eastern production was unchanged at 109,000 barrels. The Rocky Mountain with a yield of 95,626 barrels. California production, which had tumbled sharplv in the last two weeks of 1930, was 534,250 barrels, a decrease of 4,250 barrels NEW YORK BANK STOCKS NEW YORK, January 13 (#).—Over- the-counter market: ’ Banks. America P Bk of U 8 Ui Chase % Chat Phenix " ity Bid. Asked. 59 " 63 Fifth ‘Ava First Netl N'¥ Harriman Manhat Co Trust Companies, Bankers' ... o Broadway Plaza Cent Hanover Chelsea Bk & Chem Bk & Tr Corn Exchange Count; PARIS BOURSE PRICES. PARIS, January 13 (#).—A heavy tone prevailed. on the hfilmru today. ‘Three per cent rentes, 86 francs 30 gznnmea. Five per cent loan, 102 francs cend 3 cchange on London, 123 francs 76 centimes. The dollar was quoted .av 25 francs 48% centimes, | Mergenthaler Linotype- DECREASES IN WEEK ¢ Daily Average Shows Drop of |Wi Most fields had comparatively small | }; was 1077,452 barrels, an increase of |, the area were' in West Texas, where | L production was down 4,761 barrels at |F area registered a decline of 6,493 barrels o BOND PRICES SAG ON NEW OFFERINGS Market Recedes Under an Increase in Financing Operations. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, January 13.—Bond prices moved downward today at a rate comparable with the speed of their ad- vancs last week. The market had re- bounded too recently from its lowest levels in over six years to be able to withstand the onslaught of new issues that featured today and yesterday. Over $125,000,000 of new flotations in two days might be expected to have a seri~ ous effect on a convalescent market The declines ranged throughout listed bonds, being confined to fractions in the high-grade, but extending from 1 to 3 points in junior domestic and for- eign dollar bonds. Trading was in small volume, indicating the reluctance of in- vestors to buy on the scale-down. The distribution of n:w offerings slowed up considerably when the glut became ap- parent. More Issues Due. After Monday's disappointing decline some recovery was looked for and at the opening prices did remain firm or advanced fractionally. But with the announcement of $50,000,000 new In- ternational Match 5s, along with $19,- 000,000 other new bonds, prices dropped. Large holders of fixed income secu- rities bore in mind the fact that at Jeast $250,000,000 in new public utility bonds is still hanging over the mar- ket. Of this amount, $50,000,000 of Columbia Gas 5s are expected on Wed- nesday, $100,000,000 Consolidated Gas bonds are ready any time, and $100.- 000,000 Pennsylvania Power & Light obligations are also awaiting a suitable market. With such flotations awaiting advances, speculative holders of issues bought at lower levels took their profits. The individual feature was the drop of over 2 points in International Match 55 of 1947. This is a debenture bond not convertible into stock and was of- fered in 1927 at 98':. The new issue today is convertible into the company's participating preference stock at the Tate of 121% shares for each $1,000 deb- enture. The shares were quoted today just above 55. The -decline in the old bonds was naturelly attributed to switching based on the theory that the conversion privilege, though out of line at the offering price of 96, was an at- tractive feature. Junior bonds that dropped from 1 to 3 points included St. Paul adjustments, St. Paul 5s, Erie 5s, Frisco 4!.s, south- ern Railway 4s, Anglo-Chilean Nitrate 7s, Goodrich 65 and Richfield Oil of California 6s. Convertibles that had similar losses were American Telephone 43is, Atchison 4155, General Theaters Equipment 6s, Texas Corporation 55 2 | and Cities Service 55 of 1950. High-grade issues were affected also, but to a lesser extent. Columbia Gas 5s dropped over 2 points in the face of the announcement of the new $50,000,000 issue. There were small losses in Great Northern 7s, Northern Pacific 4s, South- ern Pacific 4}:s, Dugliesne Light 41:s, New York Telephone 4%5s, Philadelphia Co.’s 55 and Standard Oil of New Jer- sey 5s. Foreign List. Foreign dollar bonds were quieter and their trend was irregular. German gov- ernment 5%s were heavily sold and sagged nearly 2 points. Other German bonds dropped fractionally. South Americans had a strong tone. This fol- lowed an advance in these bonds in London based on the announcement that Brazil had appealed to the Bank of England for help in straightening out the Rio government’s financial affairs. Washington Stock Exchange SALES. Potomac Electric 6s 1953—$2,000 at 108. Capital Traction Co.—10 at 43. 5 at 43, 10 at 427j. Potomac Electric 515% pfd.—5 at 108Yj, 10 at 109%, 10 at 1097, Riggs National Bank—1 at 460. American Security & Trust Co.—10 at 350, 3 at 350. National Bank of Washington—6 at 225. 20 at 87, 20 at 86%. AFTER CALL. Washington Rwy. & Elec. 45—$2,000 at | 87 Washington Gas Co. 6s '33 A—$300 at 102, 200 at 102, $100 at 102. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Rwy. & Elec. 4s. MISCELLANEOUS. Barber & Ross, Inc., 6' Chevy Chase Club 5las y Club a: Wash. Cold Storage 5: Wash. Cons. Title 6s. STOCKS. PUBLIC UTILITY. & Telga (9). Co, Amer. Tel Capital_Traction Wash. Gas Lt. C Wash. Ry. & EI pfd. (... NATIONAL BANK. Capital (14)...... ... Columbia (12) nd (%)’ Washington (13)." TRUST Amer. Sec. & Tr. Co. (15) Continental Trust (6). National Savings & Tris! orges Bank & Bank of Bethesda (6%) Commerce & Savings (10} East_Washington (12).. Potomac (10)......... Security Sav. & Com. B Seventh Street (12)....... United States (30) Washington Mechanics (20} FIRE INSURANCE. American (12).. Corcoran (10! Firemen's (8 g National Union {i5) Barber & Ross. Inc.. com Col. Medical Bidz Corp. (8) Sand & Gravel pfd. (1) Fed -Am. Co. Lanston Motiot; 8 Mer. Tr. & Stee. com. {10} oodward & Loth Woodward & *Ex dividend. b Books closed. nase extra. 0c extr 5§17 ext ella% ext: rop com. Lothrop pfd. 2l R [ 15% ext cidise extra. g Nearly 15,000 tons'of cheese were pro- duced in Argentina in the last year, | Laclede 6%s FINANGIAT. Received by Private Wire Direct to The Star Office UNITED STATES. (Saleo are in $1.000.) Sales. High 2 103 Low. Closs. 47 10129 10128 10128 10229 102 30 30 10327 103 25 103 26 2 1032 1032 1032 1 10625 106 25 106 25 5113 FOREIGN. Sales. High. 3 864 9% 91% 905 91% 13 Low. 85 91% 90 901 Argentine 5%s Argentine May "61. Argentine 6s Ju 59 Argentine 6s Oc ‘59 Argentine 63 A ‘67, Australia ¢ %s '56. 4 8 Australia 68 '67... Austria 7s'43. Bk of Chile 6%s 67 Bk of Chi Belgium Belgium 6 Belgium 7s Belgium 7s Belgium 8s Bolivar 7s ‘58 Bolivia 7s ctt: Bolivia 88 '45. Bordeaux 6s '34... Brazil 6%s ‘26 Brazil 638 '2 Rrazil 85 '41. Bremen 7s ‘3| Colambia 6s Jan '6 26 Copenhag 4%s '58. Copenhag s ‘62... 14 Cuba 5%s 45 27 Czecho 83 51 . Dan Mun 8s A "46. . Dan Mun 8s B *46 Denmark 4% Denmark & Deamark 68 '42.... Dutch East I 6s'47 3 Dutch Bast 16362 30 El Salvador 8s'48., 3 Flat 7s ex war "46.. 1 Finiand 6s '45. 6 Finlane 7s *50. Fram [ D 7%s krench 7s 5 French Gvt T%s ‘41 Gelsenkirchen 6534 German 5%s German Bank 6s ‘38 German 6%s'50... 3 German Ts rep '49. 59 Greek 63°63....... 15 Hait! 65 52 il Hol-Am ss £ . 15 Hungary 1%s '44.. 6 Italy 78 '51.. 2 | Iraly Pub Sv 7533 | Japanese 6%s '65. . Japanese 6%s ‘G4. Jugosl Bank 7s '57. | Karstadt 6s°43.... 19 iSreug & Toll 8 ‘69 62 Lyons 6334, ..v.. Marsellle 6s°34. .. Mex 43 asstd 1910, | Milan 6168 62 Montivideo 6s '55. . Montevideo 78 '52. New So Wales 6558 Norway 58 '63. Norway 5% '65 Norway 6s '43. Norway 6844, Norway 6s & Orlent dev § ‘Ortenx dev | Parts-Ly M 6s°58, . Paris-Ly M 7s'58. Paris-Or-6%s '68., Peru 6s'60. 110% 107% 10155 101 100% 75 95% 19 7 6 104% 9% Poland 7s '47 Poland 8s '50 Forto Alegre Queenland 6s'47.. | Queenland 7s '41.". Rhine West 6s '53. Rio de Jan 63s '63 Rio de Jan 8s°46. . { R Gr De Sul 6s 68, R Gr De Sul$s '46. . Rome 638 '52. Roy D 4s'45 ww. .. Sao Pau 78’ 40 rets. Suo Paulo 8s Sao Paulo 8s Saxon 7s ‘45, Swiss 5345 '46. Toho El Pow 6s '32 Tokio 6%3 '61. Utd King 5% Uruguay 6s Uruguay 8§ Vienna 6s ‘0 Ab & St 5348 '43. Adams Exp 4s"48.. | Ajax Rubber 8s Allegheny 65 Alleghany 6s '49., Allis-Chalm 6s '37. Am Ag Ch 7%s'4 Am Chain 6s 33 AmF P 58 2030 Am1GChb B Am Int Cor 5%s *49 Am Metal 6%s '34. Am N Gas 6%s "42 Am S&R 1st bs *47. Am Sug Ref 63°37. Am T&T cv 4%5'39 Am T&T 63 '6! 2 Am T&T ¢ tr b8 46. Am T&T 588160, Am T&T 6%3 43.. Am W Wks 58 '34. . AmWat Wks 6s'75. Arm & Co 4348 39 Arm Del 5%s ‘43.. Asso O1l 68'35. . -. Bell Tel Pa bs B 48 Beth St p m 63 '36. Beth St rf 6s 42, G&E bs May ‘52 m [nvest 538 49 8 ConG N Y 5%s '45. Consum Pow 58 52. C Am Sug col 85 ‘31 Det Ed rf 6s B "40. Dcdge Bros cl 65'40 | Donner st 7s ‘2. .. Duquesne 4 %3 '67. East C Sug 7%s ‘37 Gen Motors 62 '37. Gen Thea Eq 68 '40 | @eodricn cv 6: Goodrich 6%s. ... Goody'r Rub bs '67. Humble O1l 6 °37. . Hum O&R b%s ‘62, M BTIistpr6sA. 111 Steel 43 inland Steel In: Cement Int Hydro El int Match bs ‘47 A 102% 104% 94% 54 103% KCP&L4%s'57. 10 KanC P&L 53 A 63 7 Kan Gas&IS 416 s '81103 Kend 5%s'48 ww., 1 Lac G St L 65 '3 Laclede b K 102% 105 94% 60. Lautaro Nit 63 ‘64. vorillard 68 '6. Lortilard 6%s '37 McRes&Ro 5% McCormack A Mor & Co 18t 4%s.. Nat Dairy 63 5'48. 106 Nat Rad 6%s 47... N Y Ed 68 B ‘44 N Y Ed 181 6143 *41. NY ELH&P 4549, NY ELH&P 548, NITeldlas'd 13 Close. 85 9% 1031 108 Sales. High. N ¥ Tel 6341 Nor Am Ed 68 '57 Nor Am Ed 5%s'63 Nor St Pow b3 A ‘41 Pac G & E1 Pac T&T ret bs Pan-Am Pet 6s Paramount Puthe Exch Phila Co 68 ‘¢ Phila & Read Phil Pet 6% 8 '3 Pillsh F M 65 4 Pos Te! & C 53 °5: Pure Ol 6%s '37 Rem Arms 63 A ‘37, Rem R'd 5%s A 47 Ricnfi'd O cal 63 44 Shell Un Oll &3 47. SINC1O 63 1 38, . Sincl O 7s cv A '31. Sinel Cr O 5%s Sincialr P L 6 Solvay Am 6s 4 Sou Bell T&T 5341 SW Bell T 63 A 540 StOII N J 6848 StOIl N Y 4%s 1. Tenn E) P 68 A 47, '3 7 3, Tex Corp cv 68 44 106 Utd Drug cv 6s ‘53, U S Rublst 5547, Utah P& L 63 44.. Util Pwr 58 '59 ww. Utll Pow 5%s 4 Warn Br Plc 6s'39, Warner Sug 7s '41. West El deb bs West Un Tel bs WEOG%s'3T ww. Wil & Co 1st 63 41. YouSt& T5s'78.. Low. Close. 106% 107 & 1021 1024 103% 103% 103% 103% 103 103 106% 106% 101% 101% 95 23 107 1 8 98 100 101 100 96% 104% 1064 104% 99% 106% 994, 98% T2l 10614 104% 106% 14 106% 38 18 3 2 1 10 0 100% 4108 RAILROA Atchison ad) 4s 95. Ban & Aroos 4s '51, Pos & Me bs 1955 Bos & Me bs ‘67 Eklyn Elev 6% EBkiyn Man 6s Brooklyn Un 5s'45, Bklyn Un 1st 6360 BR & Pitt 4%s 67, Can Nat 43 Can Nat 4% San Nat 43 Can Nat 53 July 69 Can Nat 68 Oct '69. Can Nor 6% s db’46 Can Nor 7s deb 40, Can Pacifig db 4 Can Pac 4348 '46. Can Pacific bs ‘54 Car Clin & O 68 °5: Cent Pacific 43 ‘49 Cent Pacific 63 0. 1 Chi Grt West 4559 Ch M&STP 44sC. Ch M St P&P 68 75. Ch M & St P adj bs Ch & NW gn 45 '87. Ch & NW 435 2037 Chi NW 43%sC 2037 Ch & NW con 4% Ch Rwys 58 ‘27 Chi T H inc 65 '60 Ch Un Sta 6% - CCC&St L 4%s (E) CCC&StLés(C) C U Ter 4%s 2020.. Clev&Pitts 4% s 7T Clev Term 418 '17. Clev Term 68 ‘73. Colo Sou 4348 80. Cuba Nor 535 42.. Cuba R R 53 '52 Fla E Coast 5374 GrTrsfdb Gr Trunk 75 '40. Gr Nor 4%38 'T6 Gr Nor 4%s '77 (E) Grt Nor 18t 58 Gr Nor §s 7. Gr Norgn § Gr Ner gen 7s '3 Hock Val 415 99 Hud & M adj 6 Hud & M rf 5 1001 e 2 8T% 2 100% . 50 1011 17 104% 13 117% 14 111 18 88% 1 101% 5 99 2 1031 7 103 1 107% 1 96% Banuenn zem = velsaSeanl o 111 Cent 4s '53. (11 Cent 4%3°66. .. 111 CCStL&N 63 A. Int Rap Tr bs " Int Rap Tr sta '66. Int Rap Tr7s 32.. Int & Gr Nor 6s '56. Int Rys C A 5372, Iowa Cent rf 4s 51, Kan CFtS&M 4536 Kan City Sou 58 50 Kan City Ter 45’60 Lake Shore 43 ‘31, , Leh Valcv 4s 2008, Leh V cv 4%s 2008’ L & N uni 45 °40.... Market St 7s '4 MilE Ry & L b8 MStP&SSM 5% 5'78 Mo Pac gen % Mo Pacific i Mo Pacific oy Mo Pacific 55 G '78. Mo Pac 5%s cv "49. N&T&M5sB'5: 4. 54 CLScl3%s i,,l, Nor & Wn ov Nor Pacific 3s 2047 Nor Pac 4%s 2047, Nor Pac §s D 2047, Nor Pac r 1682047, Ore Short L 5s gtd. Penn gen 4%38 Penn 4%s'70 n4%s 63 Pere Mar %5 '80.., P CC&StL 43457 Por R L&P T%8'48 Read gen 4%8 A'S7 StL&SFin SIL&SF 4% St L&SF pr In Seab All F'I 83 A" Sou Pac col 48 Sou Facific § Sou P&Or Sou Rwy g . 30 2 93% 1101% 2 85% 4 96% 8 101% 1108 2 106% 1il% 109 102% 9614 100% 1044 109 109% 99% 9915 100 106% 101% 2 1028 31 96% 1 100% 2 104% 1 109 10 109% 9t 12 9 34 100 5 106% 1 101% 19 874 82 4 101% 8 101% 1 99% 3 96% 101% 101% 96% 109% 109% 93% “93% ITAKOMA PARK BANK- HAS NEW OFFICERS L. S. Cannon Named Presi- dent of Reorganized Institu- tion—Votaw Cashier. At a reorganization and annual meet- ing of stockholders of the Citizens' Bank of Takoma Park, Md., held last night at the banking house, Luther S. Can- non was elected president; Lawrence V. Lampson vice president and Abner L. Votaw, formerly of Westfield, Ohio, and a banker of 25 years' experience, cashier. Nineteen directors were elected by the stockholders. Mr. Cannon suc- ceeds Earle K. Richardson as president of the bank and Mr. Votaw suc George L, Wallace, who resigned, as cashier. The meeting was largely attended and a number of persons who had bought stock since the. special meeting of December 30, 1930, when the stock- | holders voted to reject ‘the proposal to sell the bank to the Takoma Park Bank, were present. The bank is capitalized at $50,000 and has been in operation for seven ! years. Mr. Cannon was its first presi- dent, but resigned four years ago when he was assigned by the Government to Central America for a year. The directors elected at the meeting are Henry E. Allanson, assistant chief Bureau of Plant Indusiry, United States Department of Agriculture; Wade H. Atkinson, M. D, vice president Park Savings Bank; Guil Barber, tax special- ist; Luther S. Cannon, attorney, Inter- nal Revenue Bureau, Treasury Depart- ment; J: Milton Derrick, president Ta- koma Motor Co.: Harry I Houston, examiner, Interference Department, United States Patent Office; Lawrencs V. Lampson, insurance representative; Alexander McKenzie, proprietor Cement | Stone Co.; S. E. McNeill, cashier Gen- eral Conference, Seventh-day Adventist; Col. F. E. Pope, president Federal Serv- ics Finance Corporation: Peter Remsen, engineer, Fred Drew Construction Co.: E. L. Richmond, treasurer Review and Herald Publishing Association: Ray- mond L Schreiner, president Bank of Brightwood: William A. Shannon, M. D.; Louis Sherman, president Sherman’s De- partment Store; John C. Shull, credit manager Washington Sanitarium; Clar- ence B. Smith, United States Depart- ment of Agriculture; Alexander Sterling and Heber H. Votaw. Immediately following adjournment of the stockholders’ meeting the direc- tors met and elected the above-named officers. Joseph H. Carr was retained as assistant cashier. Mr. Carr has been with the bank since its organization seven years ago, and came to Takoma Park from Manassas, Va., where he was *2 | connected with the bank at that place. Baltimore Markets Spectul Dispatch to The Star. % BALTIMORE, Md., January 13— Poultry, alive—Turkeys, pound, 38a40; old, 25a32. Chickens, springers, 23a26. Leghorns, 18a22. Barebacks, 14al15. Old hens, 18a25. Leghorns, 14al7. Roost- ers, 12a15. , 15a25. Geese, 14a 22. Guinea :lzls. each, 30a60. Pigeons, 0. Eggs—Receipts, 724 cases, nearby first, 30; Southern firsts, 28; hennery whites, 31a32; current receipts, 28. Butter—Good to fancy creamery, pounds, 28a31; ladles, 22a23: rolls, 16a 18; process, 27a28; store packed, 13. Vegetable Prices. Potatces, white, 100 pounds, 1.25a 1.75; sweet potatoes, barrel, 2.0024.00; yams, barrel, 2.25a3.25; beans, bushel, 6.00a8.00; beets, crate, 2.75a3.00; cabe bage, ton, 22.00a23.00; carrots, 100, 2.00a4.00; caulifiower, crate, 2.00a2.50; celery, crate, 1.50a3.00; eggplant, crate, 1.50a2.50; kale, bushel, 75a85; lettuce, hamper, 75a1.25; peppers, crate, 1.50a 2.50; par: , bushel, 80a1.30; spinach, bushel, 90a1.10; tomatoes, crate, 1.25a 3.00; turnips, bushel, 90a1.30; crane berries, box, 2.75a4.00; grapefruit, box, 1.50a2.75; oranges, box, 2.00a3.25; tan= gerines, box, 1.00a1.75; apples, bushel, 50a2.00; per box, 1.25a2.25. Hay and Grain. Wheat—No. 2 red Winter, export, 81'i; No. 2 red Winter, garlicky, spot, 81%; January, 81%; February, 82%. Corn—No. 2 domestic, yellow, old, 83a 84; cob corn, new, 4.25. Rye—Nearby, 55a60. Oats—White, No. 2, new, 44a45; No. 3, 42a44. Hay — Receipts, none. General hay market strengthening. Drought has se- siously curtailed nearby crops, chang- ing the entire situation. Sections here- tofore shipping are now as| for of- fers of hay. Good clover mi and timothy new hay will bring from 24.00 to 28.00 per ton. 0? leat straw, No. 1, per ton, 9.00a oat straw, No. 1, per ton, 9.00a Live Stock Market. Cattle—Receipts, 50 head; light supply; market steady. Steers—Choice to prime, none; good to choice, 10.00a 11.00; medium to good, 9.00a10.00; fair to medium, 7.50a8.50; plain to . fair, 6.50a7.50; common to plain, 5.50a6.00. Bulls—Choice to prime, none to choice, none; medium to good, 5.50a 6.00; fair to medium, 5.00a5.50; plain to fair, 4.50a5.00; common to plain, 4.00a4.50. Cows—Choice to prime, none; good to choice, 5.5026.00; medium to good, 4.75a5.25; fair to medium, 4.26 a4.50; plain to fair, 3.00a4.00; common ito plain, 2.00a3.00. Heifers—Choice to prime, none; good to choice, 8.00a8.50; medium to good, 7.25a7.75; fair to me- dium, 6.25a7.00; plain to fair, 5.50a 6.00; ccmmon to plain, 4.50a5.25. Fresh cows and springers, 40.00a80.00, Sheep and bs—] head» light supply; Sheep, 1.50a4.00; lambs, .75, Hogs—Receipts, 300 head; light sup- Rly, market stronger; lights, 8.90a9.1 eavies, 8.00a8.50; medium, 8.75a9.0f roughs, 6.25a7.25; light pigs, 8.75a9.00; pigs, 8.90a9.00. Calves—Receipts, 25 head; light sup- ply; market higher. Calves, 5.00a12.50. SHENANDOAH VALLEY ASSOCIATION CHARTERED Specia] Dispatch to The Star. CULPEPER, Va., January 13.—The Shenandoah Valley Marketing tion of Lacy Spring, Va., has just been chartered as a non-stock co tion to engage in the marketing and sel of agricultural products. Charles R. Albe- baugh of Harrisonburg represented the corporation in making application for the charter. Officers of the association a Wil- diam R. Sellers, president: J. K. Maury, vice president; O. W. Willie, treasurer; C. R. Albebaugh, secretary; directors— D. A. Brock, H. M. Higgs, C. F. Lay- man, W. C. Rhodés of Harrisonburg, L. B. Morris of Vienna, E. 1. Hillyard of ‘Timberville, A. J. Folts, P. E. Rhine- hart and W. R. Sellers of Lacy Spring. & 2 Sales High Low. Close. Sou Rwv 8%s°56.. 4 117 116% 117 Sou Ry M&O 45’38, 2 9% 94 Tex & P 1st 552000 _2.110% 110% 110% sCT9. I7 99% 98 993 1 68 Third Av ref 48 Ulst & De §s ctf *28 Un Pac Ist 48 47.. Wabash 1st §s '3 9. Wabash 43878, ..