Evening Star Newspaper, November 19, 1931, Page 14

"A-14 =% IRREGULAR MARKET THE EVENING .STAR, WASEHINGTON, D. C, THURSDAY, NEW YORK STQCK EXCHANGE Received by Private Wire Direct to The Star Office. ~ —19— L b DECLINE IN BOND NOVEMBER 19, 1931 FINANCIAY. o e vomx BONDS o seevoes] |NEW Q1L GUSHERS UN|‘I’.°, STATES. (Bales are 1n $1.000) Sales. Hich. Low. Ill 89 8713 - PRIGES CONTINUES) . Close. Chge. 5 21 P 3 u‘-lz -47 30 4%833-38188 FEARED IN TRADE (Continued From Page 13.) Stock an¢ end Rate. 5 100 101 100 10074 lno 100% 105 d Rete. 19% surun. Secur cv pf. 4% Stewart Warner.... 13% Stone&Webster (m2). -1 SEEN BY TRADERS 40 21% Humble O 534s'32. 111 Bell Tell 53°C6. . Bales— Add 00. 708 1013 101 5 101 10 1018 1008 Recent Movement of Securi- ties Suggests Narrow Price Changes. BY CHARLES F, SPEARE. Bpecial Dispatch to The Star. NEW YORK, November 19.—It may or may not be an evidence of lppr()cch- ing stability in prices, but it is an in- teresting momenon of this month's stock market that it has been in almost erfect balance, with the price pendu- um swinging upward in the first week of November and backward an equiva- lent distance in the second week. It is a long time since such uniformity in fiuctuations has occurred. ‘These compensating movements have brought the average of the three groups of stocks to practically the level at which they ended in October. 1In seven market sessions the industrial list rose from an average of about 104 to slightly above 119. In the six following sessions ft declined to almost exactly the level of October 30. There was one day in which the average loss exceeded the average gain during the period of advance. Transactions were at a la verage daily total on the upswing the decline. The public was buying stocks!in odd lots while the market was rising. . The professionals were selling in a cautious way. Railroad Group. About the same movements occurred in the railroad list as in the industrials, rxcept that the early rising trend of is group was several times interrupted | vhlle the industrials and public utili- ties were advancing. However, between the end’of October and the beginning of the second week in November, the rails advanced an average of about 65 points. Then they dropped back to the same level as that reached on the last hullneu day of October. Unlike the in- there were heavier transac- tlm while this group was declining than when it was advancing. In the second, or falling price period, a num- ber of railroad stocks reached the low- est_quotations of the year. It may be said that this group’s average was af- fected considerably by the persistent ‘weakness in New York Central and that the total transactions in rails were swelled by the unusual daily turnover in this stock. The public utilities have followed the industrials more than the rails. As in the case of the other two groups theu' average price, which went up 5 points from the end of October to November 9, subsequently dropped back to about the same figure as t at which it had started. Tra in the public utilities was materially larger while prices were advancing than when they were de- clining. Within this group there have also been new low prices for the year. ‘Western Union has occupied about the :;me r;llllmrz‘u:? lx?:e oth;’r“ members of e public utility as New York Central to the rails. Irregular Market Expected. ‘With the market in such remarkable balance and speculative interests be- coming smaller, instead of expanding as the year draws to a close, it is the feeling in Wall Street that the next six weeks will witness a dull and irreg- ular movement in stocks as a whole. ‘There is not much in sight to relieve the situation or to encourage specula- tion in either direction. While there are undoubtedly weak positions in cer- tlln industrial mnd public utility stocks end the influence of rather immediate dividend action may be bearish on in- dividual railroad shares, it is the com- mon belief of experienced men in the financial district that the market has ‘been liquidated of its speculative com- mitments. For several weeks there have been only dribbling sales of securities for the account of banks. The market bu re- flected quite definitely the falling off in the number of bank failures. These wm by Bradstreet's today as only 26, compared with 53 lnt.heprwlmnweek and 87 in the last week of October. over 500 banks that failed in October, the No- vember estimate is for less than one- third of that number. There is a very direct connection between this improved b-nn;:‘[ situation and the present de- gree stability in securities. Three Groups Compared. Comparing the three groups of stocks with -ver:g: low prices in 1830, it will be found t the industrials are about lnfl below the minimum last year the rails are 50 per cent under the JOW of 1930, while the current public utility average makes the best showing in a e of only 15 points from th& 1930 minimum. Compared with their high of 1929, industrials are off en average of 276 points, or 73 pcr cent; rail an average of 144 points, or 770 per cent, and public utilities an aver- Bge of 104 points, or nearly 80 per cent. (Copyright, 1931.) Washington Produce | Butter—One-pound prints, 36; tub, 35. Eggs—Herhhery, 38a42; current re- keelipts, 28a33. Poultry, alive—Turkeys, young toms and hens, 25a30; old toms, 23; old hens, 27a25; chickens, 3 pounds and over, 18a20; 2 to %) pounds, 20a22; Spring broilers, 23; hens, large, 18a20; small, 15a17; Leghorn hens, 13al5; roosters, 10a12; keats, young, 40a45; old, 25835. Poultry, dressed—Turkeys, young hens and toms, 36a38; old toms, 28a30; old hens, 29a31; chickens, 3 pounds and over, 21a23; 2 to 2% pounds, 23a25; Spring ' brollers, 30; hens, large, 21a23; small, 18a20; Leghorn hens, 16al18; ; Long Island ducks, 19a20. Meats—Beef, prime, 17; choice, 16; fair to good, 12'2a14; cow, 8!2a9; veal, top, 15; medium, 14al5; lamb, top, 17; medium, 15a16; pork loins, 8 to 10 pounds, 16al7; 10 to 12 pounds, 13%:a 14; 12 to 15 pounds, 12a13; fresh hams, 8 to 10 pounds, 15; 20 to 25 pounds, 1n; strip bacon, 22a23; lard, 50-pound tins, 9; in packages, 10; compound a e five stock—Hogs, heavy, 4.5085.00; light and medium, 5.00; pigs, 4.75a5.00; youghs, 2.50a4.00; calves, 3.50a8.50; lambs, 3.5026.50. Fruits—Oranges, 3.00a5.50; lemons, 4.0024.50; grapefruit, 2.50a3.00; limes, per 100, 1.50a175; casabas, 2.50; ap- ples, bushel baskets, 25a1.50; box stock, fancy, 2.00a2.75; pears, 2.50a3.00; grapes, Tokays, 2.00a2.25; 25, pineapples, 35024.00; 1.25a2.50; pernmmons, 58 1.50; honeydews, 3.00a3.2 Vegetables — Potatoes, M-me. 100- ypound sacks, 1.25; New York, 150-pound sacks, 1.75; Idaho bakers, 100-pound ; sweets, per bushel, 50a75; High. Low. Divide 5 7 Orpheum Circuit pf. 58% 20% Otis Elevator (23%) 16% 3% OtisSteel........c0 691 16 Otis Steel pr pf. 54T 29% Pacific Gi Bl (2) 6912 35 Pacific Lighting (3). 131% 100% Pacific Tel&Teleg(7) 11% 4 Packard Motor (40¢) 10% Par-Pub (b10% stk). 1 Park & Tilford. 3 1 108 15 9 50s 2814 Penney (J C) (2.40). 27% Penna Rallroad (2).. 201 Peop Drug Strs (1).. 129 Peoples Gas(Chi)(8) 14 Pere Marquette pf. .. 41 Petm Corp of Am(1) 6% Phelps Dodge Co. ... 8% Phila&Reading C& I n Phillips-Jones Co. .. % Phillips Petroleum. 420)35 5». Plerce-Arrow. . 1 39% Pierce-Arrow pf (6). % Pierce Ofl. % Plerce Pet! 6 Pitts Coal. 35 Pitts Coal p: 30% Pitts Steel pf. 2 Port Ric Am Tob(A). 8 Port R Am Teb (B).. 8% Postal Tel&Cable pf. 5% Prairie Oll & Ga: 39% Proct & Gamb ¢2.40) 517 Public Sve NJ(3.40). 87 Public Sve NJ pf (5) 97 Public Sve NJ pt (6) 13414 Public Sve N J pf(8) 22 Pullman Corp (3) 5 Pure Ofl 12% Purity Baleries (3). 814 Kadio Corp... . 25 Radio Corp (B) (5). Radio-Keith-Orph A Rand Mines(m2.429) Raybestos Man (1.60) Reading Rwy (4)... Reading Ry 24 pf(2) Real Silk Hostery. .. Reis (R) & Co 1st pf. Remington-Kand. .. Rem-Rand 1st pf (7) Reo Motor Clr(lflc). Republic Steel. Republic Steel pf. Reynolds Tob B ( Rio Grande O, Ritter Dent Mfg 1%. Rossia Insur (2.20). 13% Royal Dutch of NY 380 ‘ew. 75 Sateway Strs pt'(6). 877 Safeway Strs pf (7). 6% StL-San Francisco. . 7% StL-San Fran pf( 5 Savage Arms. 4 Schul 40 Schulte Stores pf (8) % Seaboard Air Line. . 14 Seaboard Alr Line pf 5% 3eafoard O11.. & 3% Seagrave (40c). 31 Sears Roebuck (2%). 1% Senece Copper. . 3% Servel Inc.. 3% Sharp & Dohm: Shattuck (FG) (11%) 3% Shell Union Oll. ... 23% Shell Union Ofl pf. 8% Simmons Co. 5% Sinclair Cont 77 Sinclair Oll pf (8} 31 SKelly Ofl....vsuses 10 Skelly Ofl f ww. % Snider Packing. 12% Socony-Vacuum (1 7/ South Port Rico Sug 28% Southn Ca! Ed (2) 42 Southern Pacific (4). 14% Southern Rwy (m8§). 22 Southern Ry f (5).. 18 Spalding (AG) (1).. 3% Sparks Withing (1).. 1234 Stand Brands (1.20). 29% Stand Gas&El (3%). 42% Stand Gas&E! pf (4) 284 Stand Ol of Cal(2%) 8% Stand Ofl of Kansas. 2814 Stand Ofl NJ (12) 35% 24 11% 9 " DR e T s a0 RS o < 19 52% b4y 26 18% 40% 15% 36% 56% 6% 21% 12% Telautograph ¥1.40)% 914 . 9 Studebaker Co(1.20). 99 Studebaker pf (7)... 19 Superheater (2%) 11% Sweets of Amer (1). 2% Tennessee Corra 15 Texas Corp (2) 20% Tex Gulf Sulphur':3) 2% Tex Pacific Coal&Oll. 4% Tex Pacific Land Tr. B L 10+ 1 PEEE F I+++14 1% Tobacco 7 Tobacco 3 Tri-Cont Pkl ] Bl b 20% U S Indu; U S Pipe U S Real 4 31 2 3 Vadasco Waldort Walwort Ward Bal West P: West West Pa Western Western Western Western Western 12 120 44% 19% 147 31% 150% 3614 100's 14% 5% 3% P+l +4 1444 50% Wrigley 5% 1 1« 1% ’&'wk. nmius :'5'. hm ‘at Ol pt (6).. 19% Timken Roller B(2).. 3% Transamerica Corp. . 11% Union Ol of Cal (2. 92% Union Pacific (10) 12% Unit Atreraft. . 24 Unit Biscuit (2). 6% Unit Carbon. .. 1% Unit Cigar Stores. 28% Unit Fruit (3). 19% Unit Gas&Im(1.20).. 95% Unit Gas&Im pf(5).. 10% Unit Plece D W (2).. 96 Unit Plece DWpf 6% 1% U S & Forn Secur. 10% U S Freight. 21% U S Gypsum (1.60) 2% U S Leather. 76% 183% Vanadium Corp. 71% 32 Vulean Detin (4) 5% WabashRR.... 4 Warn Bros Picture: Warner Bros pf 3.8 Warner Quinlan. Warren Bros. . Wesson Ofl&Sno -% or As pf(6). -1% Products. .. =% Prod A t95¢c - % f- +1% watxrlewanemor, 1 Corp. s Alcohol. .. & Fary ty & Imp 12% US Sml‘& Rof .. 6214 U 8 Steel Corpn (I).. 7 8 Utl) P&L(A) et2.; Sales Corp. Sys (1%) h Co. .. king (B) . LI4L 810134010 ). Elec A (). 1pf (7)... Pwr pf (7). Dalry (A).. Maryland Paciflc. Pacific pf. Union (6) Westinghse A B(2). Westinghouse (21). Wheeling Steel pf 3). White Motors. : Willys-Overlan Wilson & Co (A) Woolworth (14.40). . Worthington Pump. Wright Aeronautical (Wm) (4) 3% Yellow Truck. 174 Yellow Truck & C pt. 19 Ygstwn Sheet&Tube. Zenith Radfo....... 7 Zonite Prod Corp (1) RIGHTS—EXPIRE. % Elec Po&Lt . 3% PeopGL&C..Jan15 1 .Dec 4 60 3% 200,000 12:00 Noon. 700,000 1,000,000 2:10 P.M. 11,200,000 pe gunu ,'w—"lo'x".',' Sinr rate, 1 Plus 8% 0c i special preferre. stock ® £ 4 tnls year—no TesulAr rate. B Fius 8% = HARBOR IMPROVEMENTS AT BALTIMORE ASSURED Special Dispatch to The Star. BALTIMORE, November 19.—The Secretary of War has approved the al- lotment of $104,000 from rivers and harbors funds to cover improvements in Baltimore harbor and channels. The work is a continuation of the improve- ments provided for in the rivers and harbors act of July 3, 1930, involving deepening of the entrance channel at York Spit in lower Chesapeake Bay from 35 to 37 feet at mean low water. The dredging involved, due to the ex- posed location, can best be done by use of a seagoing hopper dredge. Part of the dredging was accomplished in the fiscal year ending June 30, 1931. The United States sea-going dredge Chinook will soon be available for as- signment to this locality. The War Department also announced that traffic at Baltimore harbor and channels for the calendar year 1930 amounted to 18,752,484 tons valued at $786,191,303. In addition 1,122,353 pas- sengers were carried. CHICAGO LIVE STOCK MARKET | &b CHICAGO, November 19 () (United | D: G States Department of Agriculture). — Hogs, 32,000 head, including 11,000 head direct; opened strong to 10 higher; later trade steady; 170-300 pounds, 4.4584.60; practical top early, 4.70; 140- 160 pounds, 4.40a4.45; pigs, 4.00a4.25; packing sows, 3.90a4.25; light light, good and choice, 140-160 pounds, 4.40a 4 light weight, 160-200 pounds, 4.50a 4.70; medium weight, 200-250 pounds, 44524.70; h“vé"m" 250-350 pounds, 4.35a4.55; packing sows, medium and good, 275-500 pounds, 3.90a4.30; pigs, good and choice, 100-130 pounds, 4.00a Clttle—melpu 5,000 head; culvu, 2,000 head; grain-fed steers very scarce market generally firm to higher on grades; inbetween kinds predominating; mostly 6.50a10.00 market with extreme top 12.00 for long yearlings; no strictly choice yearlings or weighty steers here; all grades and classes she stock strong to 25 higher; low cutter and cutter cows up most; vealers, 25a50 higher. Slaughter cattle and vealers: Steers, good and choice 600-900 pounds, 7.75a 11.75; 900-1,100 pounds, 8.00a12.2! 1,100-1,300 pounds, 8.25a12.75; 1,30 1,500 pounds, 8.00a12.75; common and medium 600-1,300 pounds, 4.00a8.25; heifers, good and choice 550-850 pounds, 6.50a10.25; common and medium, 3.50a 7.00; cows, good and choice, 4.00a5.2! common and medium, 3.50a4.00; low cutter and cutter, 2.50a3.50. Bulls (yearlings excluded), good and choice (beef), 4.00a4.75; cutter to medium, 2.75a4.25; vealers (milk fed), and choice, 5.25a7.00; medium, 4.0025.25; cull and common, 3.00a4.0( stocker and feeder cattle: Steers good and choice, 500-1,050 pounds, 5.50a 7.25; common and medium, 3.75a5.50. 12,000; fairly active; stron; pers, el 26, malmhroocs 08 00; ; mushrooms, 3%0; “beets, per 100 bunches, 3.00; car- Tots, per 100 bunches, 4.00; bushei bas- m, 1.25; tomatoes, California, lugs, 1.7 50 5824 lettuu. Iceberg, 2.50a3.00; ! salsify, 2.50a3.. 25 peas, MIS ; parsni 5.75; artichokes, 3. 56" spi l.n- 85; kale, 90; emhm 4.00a4.! 50‘ Production o! Electricity. NEW YORK November 19 (P).— m..mZ‘i: Slectricity in the United States by the electric light and power industry for the week end:‘i November 14 showed a decrease from ‘The total of 1,623,151, however, showed" ood to choice native anc siders; some scarce; fat ewes, 1.75a2. pounds down, good and choice 5.25a 6.50; medium, 4.50a5.25; all 'lflh" common, 3.50a4.50; _ewes, 90-150 pounds, medium to choice, 1.25a2.75: all weights cull and common, 1.00a 1.75; {feeding lambs, 50~15 pounds, good and choice, 4.50a5.¢ CHICAGO DAIRY HARKET. NEW YORK, November 19 (#).— Butter, 15,571; easy. Creamery, higher than extra, 33; extra (92-score), 32; first (88-01-score), 29a31%; seconds, 27%828%. » Cheese, 193,355; steady, unchanged. (Washin[wn Gas 6s “B"—$1,000 lt‘lOS WASHINGTON STOCK EXCHANGE QUOTATIONS AND DAY’S SALES SALES. Washington Gas 55—8$1,000 at 100%. Potomac Electric 5i2% pfd.—10 at 107%. Potomac Electric 6% pfd.—10 at 11113, 2.at 1113, Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel & Tel. 4%s '3 Am. Tel. " etl. Rwy. & Elec. 45. MISCELLANEOUS, Barber & Ross, PUBLIC UTILITY. Amer. el & Tel (9). Capital ‘Tracti w:umnan “Gay u;m cn as). & W. Steamboat, (1 Wash Rwy. & El Wash. Rwy. & 2L pid. (5) . NATIONAL BANK. SoRurmbia 8y m Commereal (stamped) (0} Dillflx ). Liberty™ ) Lincoin_(10 Metropolitan (14) R BetBa e Washington " (i3 'mus-r CoMPANY. Amer. Sec. & Eontinenta “rrust 8" Natl. Bav. & Tr. (133) . Prince Géorges Bk. & nion Trust (8s) Wash. Loan & Tri BAVINGS BANK. fehan ational Union' (i57 Cotumbla. (gt TLE INSURANCE. olumbla (6h) Real Estate (6h MISCELLANEOUS. Col. Medlc-! Bldg. C . gol, Bana" MGrl'va i, (3 . {io g Mer: Tr: & Sige. pla (1) Mrrzenlhllzr [Ann"ne (8) Natl. Mtge. Inv. pfd. (8 ge. Peoples Drus Stores pfd. S Co; The Catoel Corp 3P W, Mecn, mige com: { Woodward & Lot mn'c:mm v;oodw-m & Lothrop pfd. (1) “Ex. dividend, 52% extra bBooks closed. ¥2)2% extra. n2sc extra. 37, exra. 130c extra 47 ext §17% ext 8% ext elians extra. $16,000,000 COLCMBIAN JOB GOES TO AMERICANS | . By the Assoclated Press. BOGOTA, Colombla, November 19.— Karl and Robert Parrish of Iowa, rep- resenting New York and Chicago inter- ests, Tuesday signed a contract to complete the $16,000,000 Bocas de Cenizas deep waterway project at the mouth of the Magdalena River. In return, the Colombian government gave the Parrishes a 50-year concession on waterway operations at the Bocas site and Puerto Colombia. It was un- derstood the Uhlen Co., a United States concern, would do the actual construction. Signing of the contract followed upon civic demonstrations at Barranqul where residents demanded completion of the waterway, which would make the city one of the leading ports of South Amzficl. RAIL FREIGHT " TRAFFIC DECLINES 18.6 PER CENT | hd,ht trafic handled by the class 1 for the first nine months of this to 261,819,675,000 net to a report today by the Bureau of iway Economics. This was 18.6 per cent under the figure for the corzesponding period last year and 29.2 unde} the same period of 1929 ‘The decrease was uniform throughout the country. In s?umber the mnet ton miles totaled 27,847,085,000, which was 23.1 per cent under last year's movement and 37 per cent under September, 1929. —_—— Joeland has banned the importation of sutcmobiles. EARNINGS REPORTED. NEW YORK, November 19 (#)— |8 w. -%|Trading Remains Light as Values Shrink—Foreign List Irregular. BY F. H, RICHARDSON. Special Dispatch to The Star, NEW YORK, November *19.—Bonds continued their decline again today, led by the railroad group. The down- turn was on small volume of trading — %! and while prices broke sharply in spots it was evident that no important Vol- Z s lume of liquidation had keen brought cut« opening was soft, reflecting a slmflnr turn in stocks and the Jublous attitude of Wall Stréet as to the suc- cess of thé negotiations between the railroads and their employes on wage reductions. Japan’s aggressive attitude h':ru M;nchum hmveve':; was not con- ed as a reason sell Japane government bonds and these D:me: tlom were firm. The Franco-German itions did not develop any new mne but thelf protracted caused lome softening in German bonds in London which was in part reflected here. Lesser rated Eure strian 7s, German Cent: German municipals, Pohnd 'l;, oglg and Sweden 5158 were 1 to 2 m].m,. lower. South Americans were virtually unchanged. ‘Wall Street was much interested n the new Canadian government internal loan to be officially offered Monday. The loan, which will’be in 5 and 10 year 5 per cent bonds priced to yield 5.13 to 5.17 per cent, on a Canadian currency basis, will aggregate $150,000,- 000. Many American corporations mv- ing branches or business affiliations in Canada and maintaining large bank balances there on which, ing the recovery of Canadian Exchange, they can realize only 2 per cent on demand deposits and 3 per cent on savings ac. counts, have inquired for llnble amounts of the bonds. These will be favorably priced when it is considered that outstanding Canadian municipals are now being quoted on Canadian ex- changes around a 5.05 per cent basis. " Bonds were heavy at the opening, especially domestic railroad issues. This reflected the lower opening of stocks today and the (cn:inu out of new selling by the decline of the past three market sessions. New “York Central 4%s, Pmmy!vlnh 4%e, Missouri-Pacific 3s, Illinois Cen- tral 4%s, Chicago & Northwestern 4%s and many similar issues were at new lows for the reaction. Industrial bonds ltke Dodge Bros. 6s, Goodyear 5s and McKesson & Robbins %.s and util- ities such as Western Union obliga- tions and ' International Telephone 5s also were lower. In the foreign department German 51s were unchanged around 37 and there was a firm tone also in Japan 814s and Great Britain 55s. The lesser rated Europeans and South Americans tended downward. INVESTMENT TRUSTS NEW YORK, Nmmber 19 A— Over-the-counter market. luch as Au- - e e Sonsnus it e) Chartered Inv pt Chelsea Exch A B ; Diversified t_Shrs General Equit; Grange; 233 ] corp Inyest depend 1t sEa Int Int in B8 cnen’ o) o st aGususana oo, SwSE e i 0ea®38. uosa S IS 5 =S ?enur Trask nmd ndAll Am Crown Cork & Seal Co. and wholly | Tr owned domestic subsidiaries reported |Trustee for the September quarter net profit '_f‘r of $359,795, equal to 68 cents a com- mon share, against $380,768, or $1.03 |ZI¥ o share, on a smaller capitalization in the like period of 1930. Weston Electrical Instrument Corpo- ration and domestic subsidaries had Sepumber quarter net profit of $16,728, al to 44 cents a class A share, com= pl.rcd with $120,153, or 80 cents a class A share, in the third quarter of 1930. Curtiss-Wright Corporation and sub- sidiaries reported tcday for the quar- ter ended September 30 net loss of $676,234, compared with net loss of $1,807,594 in the third quarter last year. For the first nine months this year net loss was $2,139,388, against net loss of t'l 169 255 for the camparable period of ‘The improvement was re- mrwd due pancipu omies put into effect during the ye r. unmd cubon Co. qm beid ot 389 741, eemp-red ‘with net p!oflt o! $208,214 in the 1930 quarter. United Electric for the quarter ended income of $61,123, equal to a common share, against $10,880, or 3 cents a common share, in the like period last year. TREASURY CERTIFICATES. (Reported by J. & W. Seligman 9 315 1931°T'Did 99 31-32 1932 100 to mflflnl Chi. flfl -nufimm ‘cem A d T Two-Year ‘Trust Sh. o, etuuanaabt FREFSISFIEEES Ban} Bm Int Ltd Int Y 4 SHORT-TERM SECURITIES. (Reported by J. & W. Sellgman & Co.) id, ~ Offer. Am--chnmen Eo h 1937 - O An'urlun goain Co, 6y 1934 Sl “Wat. Baltnore onmha-‘ x gn}’“ Belding Hemingwa 93 107% Ry 98% 8% 8 993 l‘i 5 Grt N 1851-5... 83 849, 63 s Mil 3 103 94 9324 9325 959 956 958 999 992 992 999 994 996 999 997 997 100 30 100 27 100 27 102 21 10218 102 1% 106 12 106 12 106 12 Sales, Hien, Lov. 2:08 ADitibl P&P Bs'53. 46% 46 46 Alleghany Cp h 4 Am Intl 5%s Am Metal 5% Am N Gas 6% Am S&R 1xt b5 47, Am Sug Ref 65 '37. Am TiT cv %839 Am T & T 5366 Am T&T c tr bs Am T&T 63 8 £'60. 118 Am T&T 5%5°43... 17 Am W Wks 55'34.. 6 Am Wat Wks 6575 2 Argentine 5s°45. .. Arpentine 5148 '62. zz Argentine May "61. 4 Argentin Ju'sy. 12 Argentine s A '57. 16 Argentine 6s B '68. 16 Arm & Co 4%s'39. 173 Arm Del 5345 °43.. 287 Atchison adj 4s'95. Atchison gn ¢s ‘95 Atchiscv 43%s "4 At1CL 1st 485! AtiCLcl 4s At Gulf 55’59 56, Bell Tel Pa 53 B ‘48 Bell Tell Pa bs C'60 B Ind Loan C 6546 Berlin Cy E1 55 Beth St rf 5348 4 Bollvia 78 '58 Bolivia 25 Bordeaux Brasil s i Brazil 8s°41. Bk Ed gn A 6849, Bkiyn Elev 6%s BKlyn Man 68 '68. . Bklyn Un 1st 585'60. Rkiyn Un b5s’45. ... Buenos A 6s'61 Pv. Budapest 65'62. ... Buff Gen EJ 434531 Bush T Bldg 55°60 Calif Packing 53 ‘40 i Can Nat 58 Can Nor 4 %8 Cen Nor 6%s db Can Nor 7s db Can Nat §s Oct ‘Il 0 O gen 4%s'93, O4%8B’95... & Q gen 4s &Q 18t rf b8 '71. & Est 111 5551 Grt West 45’ M & St Padj bn..134 W 4347 C 2087, Chi & NWen 4 & NW Eow Chi R Lev4%s ChiRT&P 4% Chi Un Sta 4%s5'63. 2 maNammBan Colo & Sou 4% ."35. Colo & Sou 4% s '80 Col G&E b8 May’'52 Col G&E cou 63 °61. CCMdistrf EI’SD. Con Pwr Jap Con Pow Japan Consum Pow §s '52 Copenhag l% 53.. Copenh. . 2... Cuba 6%s Cuba RR Bl 52, Del & Hud rf 4 Del & Hud 5% Del PWr&L 438 71 Denmark 4% % Dutch Bast I ll’l". Dutch East I 62'62, Erie 1st con 4896, Br Erle Fiat 7s war. 11l Cent 4% ‘66 [ Cent 6145 '36. 111 CCStL&N Ili Steel 4% *4 Inland St 4%s A'78 Inland St 414s B'81 Int Rap Tr 55 '66 Int Rap Tr sta '66.. Int Rap Tr 78 32... Int Cement 58 "48. . Int Hydro El 63 ‘44 Int M Co bs ret's1.. Int Match 5s 47 Int MM col tr 6 Int Pap 53 A 47, Int Pap 65°55. Int TET ev 4 %830, IntT & T 58 'G5, . Italy 7 '51.. Italy Pub § 7s Japanese 5% Japanese 61y Jugosl Bnk 7s '57. Kan CFS& M 4536, Kan City Sou 55'50. Kan City Ter 45'60. Karstadt os '43. Kreug & Toll 65'69. Lac G St L 5s'34... Laclede 5%s C'53.. Lake Shoro 214597 Lautaro Nit 6s '54. Lig & Myers 7844, Loew’s 6s ex w "41. Lorillard 5: 6l 1 Lorillard 5%s '37..102 Lorillard 7s ‘44. La & Ark 55'60. ... 15 Lou G & EI 58 '52. L & N uni 4s°40. Lvons 6s°34. . McKes & R 5%s'50. Manh Ry 1st 4s" Marseille 65 " Midvale Stl 58 '3 Mi) El Ry&Lt bs '11 M StP&SSM cn ds. . MSP&SSM 5%s'78. MK & T 1st 4890, MK&T4sB'62 Mo Pac gn 4575 Mo Pac 5s A "65. Mo Pac 5s F *77 Mo Pac 63 G 7! Mo Pacrf 53’8 Mo Pacb%s A Mobile-Ohio 5s *38. Mont Pow 5s'43 Mor&Co 1st 4% 839 Nat Dairy 5%4s 48, Nat Steel 5 Netherlands N Y Cent 4% 2013 2013. 16 N Y Cent db NYC&StLd4s NY C&StL 4%s'78. NYC&StL5%8A'T4. 6 NY C&St L 65°32.. 10 N Y Fd 18t 6%8%1. 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Sea AllFla6sB'356 6 Selne 7s *42 18 Serbs-Cr-S1 7, Serbs-Cr-S18s°'62.. 8 Shell Un Of1 68 *47. 73 Shell Un O1168°49. 1 Sinclair Ofl 6438 7 Sinc O 7scv A '37., 12 GrandTr sf b 6536 14 Grand Trunk 78'40. 24 Grt Nor4%s'76D. 1 art er &n Hfi ‘53, 9 Talwan E P l%r'll 82 Tenn EI P 63 Tex & Ark 5% 2% | Third Av adj 68 a0 25 Tohol‘l?' l‘ll.. 29 Tokio 5% Tokio m Ll l 53, 104% 58 358 46% 53t 461a 834 90 101 105% 45% 101% 90% 101% 66% 40 101% 102% 101% 65 100% 103% 100% 1 East Texas Drilling Opera- tions Cause Apprehension in Industry. BY WILLIAM VOIGT, JR., Associsted Press Staff Writer. TULSA, Okla, November 19.—An- xious eyes are turning sgain foward East Texas und “T told you 80” is be- ing heard over the land. For in East Texas, where the rule of “dog eat dog” brought rnear-disaster to the of! industry, from which i is slow- ly drawing away, there again sppears the ltkelmsood of & new discovery. Remembering the ruinous overde- velopment of the present East Texas oil fields, and the \uy lhe lnduatry nearly was drowned in the flood of its own crude, ofl men are w.ltdfl.u ‘warily the completing the new y - turn out to be a “flash” 'llh lltfle oll or far-reaching effects, it is recalled that many thought the discovery well of “Dad” Joiner was a ‘“flash” also, and did not dream that it would bring about the most feverish and trouble- . some year the industry ever has had. Wildcat Watched. Oil men are watching similarly every wildcat that is being drilled in any part of the midcontinent area. For each one holds the same threat that the Joiner discovery and the Indian Territory Illuminating Oil Co. dis- covery in the Oklahoma City field held. It may mean the location of a vast new pool, not controlled by a group or single company committed to orderly, conservative development. If this is the case—then, say oil men, and it all will have to be again. With the area sur- e discovery in h “pay dirt” first, and with wells crowd- hz close, it would not take long 'to 5 about chaos again. Oil men reading reports from East Texas' newest find recalled that back in 1923 Henry L. Doherty first ad- vanced the thought that unit or co- opmnve development of oil pools ld be “necessary to order. They recalled that the industry's leaders were told last week in CI that pursuing the present survival-ofe the-fittest policy would be disastrous— “ukszhmmuwrtonnnlmn uon system instead of building. the Thlt:ne'ofl)wflmmbm years ago for oil men to become happy as kids when a new fleld was opened, mw the news from Texas brings & frown, and there actually is found some measure of deep hape um. there will be no great pool disco ‘hope 4 ‘This is fostered by geologic le- that the horizon 8] Poars o he ‘the Ogio. 1ormation.sieu- lar to the North Louisiana structures that “flash” results—that is, ‘The number of wildcat opera of heavy ‘storage lentless pincing in of vmdm:fion through pronunm and comparatively low prices. dn '.he midcontinent area today, ex m';oo: O s e nm;nfl utn-. rop of Xas, are 65: drilling tests, apd 162 rigs are built ar tomt up tory to starting oper- to Oil and Gas Journal Of these, approximately one. (our'.h Oo one-third ‘may be classed as or semi-! wl.lduu ‘which woula open nev production and new pools if brought to successful com) 8 NEW YORK, November 19.—After a gain earlier in the week, retail trade has again felt the retarding effects of the unseasonably warm weather. Sales in the apparel departments, while some- what better than two weeks or 50 ago, weather at this late date, it was pol.nt- Ed wt New York store executlvu‘ t assume an importan uuct with reference to holiday trade. Lack of cold weather involves the ab- sence of an element badly needed to spur consumer interest in holiday goods. The present trend toward more ate tractive has proven a boon o ward trend in siles was offset by busis ness afforded through the production of new types of packages for manufac- | turers who tried to reduce sales ruln- 2% Ygstn S&T 68 A'TE 60% 614 ance by “dressing up” conts Calls lor desk sets, both home and office increased in the New 9 ww Utll Pow 5%8 '01‘ . Vanadium } !Lll’l 1. 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