Evening Star Newspaper, December 24, 1931, Page 11

FINANCIAL, CURB SHARES FIRM ONLIGHT TURNOVER Rally Fails to Carry Far.| Price Changes Are Narrow. BY JOHN CRONE. Bpecial Dispatch to The Star | NEW YORK, December 24.—A feeble rally got under way on the Curb Ex- change today during the noon hour. Up to that time the market had been highly irregular and dull. | Electric Bond & Share was up a shade along with Cities Service and Standard O1l of Indiana ai this stage of the session. American & Foreign | Power warrants, however, lost their early rally around midday. Specialties featured trading in a typical pre-holiday market. in point of activity and fluctuation. American | Thread preferred ran up more than & point as Mead-Johnson lost that amount. Singer Manufacturing slightly, but its initia bring activity into the stock. Following the movement in specia ties, some of the food shares were marked up. Great Allantic & Pacific Tea netted a couple points on the up- side and Horn & Hardhart rose a point. Then a block of 2,000 shares of Grocery Store at 1';, unchanged. The omission of the Burco preferred quarterly dividend due at this time produced some offerings in the inve ment trust division. Reliance Manag ment Corporation dropped to a low. Prudential Investors then yiel but Blue Ridge convertible preferred stiffened and Atlantic Securities firmed. Public utility preferred shares con- tinued erratic as Electric Bond and Share $6 preferred, leader of the list, lost more than two points. Long Is- land Lighting preferred rose almost three points, but this strengthening of quotations was not accompanied by in- creased volume in that classification In automotive trading circles the statement by F. A. Seiberling. president Seiberling Rubber Co., to the effect that the company’s sales in 1932 would gain 50 per cent over those of 1931 was hailed as an expression of col dence in the nearness of business re- wvival. SHORT-TERM SECURITIES. (Reported by J. & W. Selisman & C Allis-Chalmers Co_5s 1937 ‘American Chain Co. 6s 1933 American Tel. & T Amer Wat. Wks. & Ba & Ohio ¢ m! Colorado & ‘So. Rwy. 4 Commercial Credit Co_ 5155 Deiaware & Hudson Co. 35 Denver & Rio Grande 425 Gen. Mot. Accep. Corp. 65 General Petroleum Corp. 5s Louisville & Naskville 55 1937 New York Cent. & H. s 1034 Northwestern Telep. 4'.c 1934 Penna. R. R. Co. 6',s 1036 Portiand General Elec Republic Tron & Dnion Gil Co. of Calif’ s Virginia Rwy. & Power 35 Wabash Rwy. Co. 55 1939 TREASURY CERTIFICATES {Reported by J. & W. Seligman & Co.) Rate—Maturity 1932 32 32 1932 14-32 1932 1 s Sept. 15 3l Dec 15, 14-32 NDS ON THE Bales DOMESTIC BONDS, 0 thousands. High, 5 Alabama Pw 4125 '67 2 As G&E 5'35 '38 1n_cf 1 G & E 5las 77 4 Asso 28 17 10 As Tel Util 5155 '44 C 5 1Bell Tel Can 55 A 55 4 Buft Gen El 5s A '56 1Can Nat R E 7% E '35 Cap Adm 55 '53 x Carolina P & L 55 '56 Cen’ Pw & ‘Lt 55 36 6 6Cen Pub Ser 55 48 8Cen Btat Elec 5s 5 4 2 9 rv Pow 5135 '52 10 Cleve Elec Tllu 35 '39 1 Comwh Ed 41as D 5 Gomwh Edis 45 F i 1Con G Ut 6las A '43 9 Consum Pow 4'as o 55 A nSs ‘33 99 2030 5 %2 5 Gulf Oil Pa 1 Hood Rubber 5 75 36 6. . 5 Niag _Falls Pw 6s 1Nor Stat Pw 4las weseseys =1aneSesetosagyge SERCERC 2Es 5 CagHeRD on Gul Li% Ry st 152 o 8 & 6t ns S59ggs 53 Tex Ut 55 A tvac Chl Sias '37. FOREIGN BONDS. ota Mtg Bk Ts ‘47 n Air Prov 7s '52. 3 65 A 53 1 s 8 0Qw 2558 £ 8 Products came out | NEW YORK CURB EXCHANGE THE EVENING STAR, W Recclved by Private Wire Direct to The Star Office. Stocks sold in 100-share lots except those -Prev 1931.- Stock and Sales. High Low. Dividend Rate. Alr Investors vte. Air Investors cv pf. Allegheny Gas Corp. Allied Mills Inc 2 Aluminum Co of Am 400s Alu Co of Am pf (6). tish & Am Capital A. Am Capital B. Am City P&L Am Cit P&L B b10% Am Com P A (b10%) Am Com Pr B(b10%) “orpn (£30c). 10 2 15 11 ceamrnaBrRencasa-Daa A For Pow war. Ao Founders. S Ar Gas & Elec (11). A1 Invest Inc (B).. Am Lt & Trac 12%). M St Pu Sv (a1.60). uperpower. ... . Am Superp 1st Am Thread pf 1. Am Util & Gn B vte.. 2 Anglo Chil Nitrate. . Appalachian G Appalachian Asso Laundries vte. . Atl Lobos Atl Secur Corp. Atlas Uil Corp. . Sec of N F Bene! 11L (%), Bliss Co(EW) (b8 %) Blue Ridge Corp Blue Ridge cv pfia3) 1 Trac Lt&P(1) orp A (34e). .. an Marcont “arih Syndicate “arnation Co (j1%). luloid Corp 1st pt » Cent Hud G&KE (80¢) Cent Pub Sve A b5% : Central States Chain S ock. Cluies Service (g30c Cities Serv vf (6)... Colts Pat Fire A 1%, ‘olumbia Pictures. . “ommwlith Edison (8 5 *mwith & Sou war. . “onsol Auto Merch. . “onsol Auto M cu pf. Consol Copper “on Gas Balto (3.60) “onsol G B pf A (5). 1 Gas Utllity A ‘onsol Retail Stores onsol Theaters. ... scvpf... Cont Shares pf (B)..100s ‘ooper Bessemer-. ... S Pr Inc (n). “orp Sec Ch (b6%) ‘orroon & Reynolds. DLCA « « « « « « « I§ « 00n& Re: “osden Oil p ‘reole Petrole “rown Cent Petrol. . n Cork Intl (A) Cusi Mex Mining. Dayton Alr & Eng. Deere & Co...... De Forest Radio Detroit Afreraft. Dixon (Joseph) (4) Dow Chemical (2)... Dubilier Cond & Rad Durant Motors. East Sta Pow (B) son Bros St(30¢) sler Electric. lec Bond&Sh (b Elec B & Sh pt (6). Elec Pow Assoc (1).. Elec Pow Assoc A (1) Elec P & Lt op war.. El Shareholdg (b6 %) Elec Sharhldg pf(a6) Emp G & F cu p£(7). 508 EmpG & Fcupf(8), 508 Europ ELtd A (60c) 2 Evans Wallow Lead. 2 Fajardo Sugar. . ....100s Federal Baking Shop Federated Metal Fiatrets (94%c). Fire Asso Phila 1.60. 21z Flintkote Co A. Florida P& L pt (7). Ford Motor, Can., A. Ford Mot Ltd 36 3-50 i« Foremost Fabrics. .. oundation For Shs. Fox Lheater (A). Gen Aviation. ... Gen Pub Sve pf (6) en Theat Eq cv pt Glen Alden Coal (4) Globe Underwrit 40c. Goldman Sachs. Gold Seal Elec new Gorham Inc pf. & Goth Knitback Mch, Graymur Corp (1)... 10 Gt A&P Teanv(16%) 40s Groc Strs Prod vte.. 20 Gulf Oil of Penna..., 11 Hamilton Gas v.t.e... Horn & Hard (2%) Hudson Bay M & S. Humble Oll (12%4).. Huyler Stcu pf (7). Hydro El Securities. Hygrade Food Prod. 111 Pow & Lt pf (6).. Imp O1l of Can (50c) Indian Ter Illu Oil A Industrial Finan ctfs Insull Inv (b6%)... Insurance Security. , Intercontinent Petn. Int Petroleum (1). Int Products. Int Utilities B, %« Kolster-Br (Am Sh). Lackawanna Sec (4) Lefcourt Realty 1.60. Letcourt Real pt (3). Lone Star Gas n 88c. 1 3 1 15 4 1 1 1 25 3 15% 54 designated by let Add 00. Open. High. ~Prev. 1931~ High. Low, 112% 90 2 1y 103% 80% % 4% Magdal 41 Mapes 5 4% 5% 113% 124 30 2% 4 Low. ( Ro: i Unit G Unit Gi 2 U 175 3, 38 14 % 3 9 1 by nual payment. dividend. stock, §Plus 27 Stock and Dividend Rate. Long Isld Lt pf (7).. Lonisfana Lan & Ex. LaP&Ltpf(6).... i Noma Elec (40c). . North European Oil. Nor St Pow pf (6). Ohto Copper. Outboard Mot PacG & ac Tin Cop spec ( Pac Western O1l. Pandem Oil Pantepec Oil. . UnitGaspf (T).euvees Unit Lt & Pw A (1).. Unit L & Pwr pf(6).. Unit Porto Rica Sug. U S Dairy (A) (6)... Dairy (B). 5 U S Elec Pow w' U S Foil (B) (50¢)... U S & Intl Secur . U'S Inter Sec 1st pf.. Unit Verde Exten (1) 1%,Util Po & Lt (b10% ) Util Pwr & Lt pf(7). 100: Utility Equities. Util & Ind .. Venezuela Petrolm. . Vick Financial (30¢c) Waitt & Bond A(2).. Walker, H (25¢). Walier Mining...... 2 Welch Gr Juice (12). 258 W Va Coal & Coke. Western Md pf West Pwr pf (7).... Woolwth Ltd 17 4-5¢. % Com Edison..., — 24 Dividend rates in dollars based on last quarterly of semi-an- “Ex dividend. s Payable in cash or stock. fplus 5% 1n stock, in stock. stock. nPlus 8% in stock, Sales— Add 00. Open 108 Low. Close. 94% L] na Synd. ... ‘ons MIg(t4) Margay....... Mass Utll Assoc. ... Mavis Bottling (A) 2 Mead Johnson (15).. Meuiph N Gas (60c).. Mercantile Strs (1). Metal & Mining Inc.. Mét Chain Stores Mo-Kan Pipe L (B).. Miss Riv Fuel bd rts. Mountain Prod (80¢). Nat American Co Nat Aviation. . s Nat B & S Corp (1). Nat Food Prod B. Nat Fuel Gas (1) Nat Investors Nat Investors pf. Nat Pow & Lt pf (6).2508 Nat Rubber Mach. .. a2 Nat Secur Invest pf. Nat Sh T Sec A 160¢c. Nat Sugar NJ (2)... Nat Transit (1). New Bradford Oll. New Eng Pow pf (6) 120 New Jers Zinc (13).. New Mex & Ar Lan Newmont Mining Niag-Hud Pow (4 Niag-Hud Pow A w.. 3008 1 508 2 1 2 9 s 5 11 9 74 3 18 6 2 s 20 . 208 6 1 4 4505 Stpf1%. ) Pender D Gr A (3%) Pennroad Corp (40c) Penn Pw & Lt pf (7) & Pow (3) Philip Morrts Inc. .. Phoenix Secur Corp. Pie Bak of Am A (2). Pilot Rad Tube A. ... Pion G M Ltd (12c).. Pitney Bowes (b4 %) Pitts & L ; 2 Totrero § Powdrell & Al Prudential Invest. Pub Utll Hold xw. Pyrene Mfg R'way & Lt Sec (13). 50s Raytheon Mfg. Reeves (D) (1%). Reiter-Foster Reliance Manag. Republic Gas Corp. Reybarn Co Rhode Is P S pf (2).. Roan Antelope Min.. Rock Lt & P (50c)... Itoosevelt Field Inc. 1a Intl (100). ... erson (J T) (1.20) St Regis 'aper Salt Creek Consol., Salt Creek Prod (1). aboard Util (28c).. Allied Corp (1) egal L & Hdwr.. Selected industri . Sle Ind alctfs(5%).. sentry Safety Cont. . Shenandoah Corp pf. (110) Smith (A. O.) South Penn O South Corp. . Sou Pipe Line (2). Southld Royalty 20c. Spanish & Gen rets. . Spieg May Stern pf.. and Invest cm pf.. Stand Ofl of Ind(1).. Stand Oll of Ky 1.60. Stand Ol Nebr (2) Stand Oil Ohio (2%4). 50s Stand P & L pf (7 Starrett Corp pf. Stroock & Co Stutz Motor Ci Sunray Oil. Swift & Co (2 Switt Internat’] (14) Taggart Corp Tampa Electric (12). Technicolor Inc. Tenn El P 1st pf(7).. ‘Texon Ofl&Land (1), Todd Shipyard (2 Trans Afr Trani Trans Lux DL P 8 Tri-Cont Corp wa: Tubize Chatel. B. Tung Sol Lamp(1). .. Un Gas of Canada (1) Union Tobacco. Unit Corp war. Unit Founders. 508 64 10 2808 1008 14 o megadiol ) e Moaes wranmraNroBiRan s mano-~ Corp. Corp war & e Fad s » - > s ws s 9 6 RIGHTS—EXPIRE ™ 1% 1% 1% {Partly extra. IPlus 4% in stock. bPayable in stock. e Adjustment g Plus 6% in stock. hPlus 1% in kPlus 10% in stock. mPlus 3% in D Paid last year—no regular rate. ALLOCATION OF ROAD ASKED IN PETITION «|North Carolina Commission Would Have Coast Line and Southern Operate C., L. & L. By the Associated Press. RALEIGH, N. C., December 24.—The North Carolina Corporation Commis- sion yesterday filed an intervening pe- tition with the Interstate Commerce Commission urging that the Chicago, Indianapolis & Louisville Railroad be allocated jointly to the Atlantic Coast Line and Southern Railway Co. ‘The petition protested against the al- location of the Chicago, Indianapolis & Louisville to the Baltimore & Ohio sys- tem in the commission’s proposal for the consolidation of the railway proper- ties of the United States into a limited number of systems. The commission’s petition said joint cwnership of the Chicago, Indianapolis & Louisville by the Southern and Atlan- tic Coast Line “is in the public interest,” because “it is of great importance to the carriers serving North Carolina, and especially Carolina and Southeastern territory.” It said the Chicago, Indianapolis & Louisville's “primary interest is in the movement of traffic North and South, while the Baltimore & Ohio Raflroad and other large Eastern trunk lines are primarily interested in the movement of traffic East and West.” The petition was filed in Washington with the Interstate Commerce Commis- [ b 86 18tinnes 75 '36 xw... Www—With warrants Tw—_Without warrants. D—New. Wi—When issued. sion. .. Birmingham, England, has 1,400 dif- ferent industries. LOOMIS SEES BETTER TIMES DURING 1932 Robert H. Loomis of Loomis, Sayles & Co., investment counsel firm, sees | better times ahead in 1932. He notes that the lambs of 1929 have unfor- tunately become sheep in 1931, and stampede just as thoroughly. “With full realization of present chaotic con- ditions,” he says, “it is necessary for cool and level-headed observers to see things in true perspective. An example of this is the present dread that Amer- ica will abandon the gold standard. “Why should a perfectly solvent na- tion, with enormous resources and a favorable balance of trade, owing no one, but owed by the rest of the world, be so afraid of its own shadow?” he asks. “The New Year will bring the usual seasonal improvement in trade. Stabili- zation of wholesale prices over the past five months, the strong position of wheat and the prospective increase in automobile manufacture in the first quarter of next year cannot help but be constructive. It is to be hoped, too, that the bond market will straighten out in the early months of 1932 Copper Buying Restricted. NEW YORK, December 24 (#)—Cop- per buying by consumers is restricted by | £ the holiday apathy and a general feel- ing that commitments should awailt the official terms of agreement on world curtailment of output, which are ex- pected to be announced shortly. Selling agents naong:u&” to quote domestic “:: cents a export price rema: at 'the equivalem of 7% cents. Decline in Silver Output. NEW YORK, December 24 (Special). —Houses that have taken a definitely bullish stand on silver and anticipate that the silver issue will be an active one in Congress next year point to the improved statistical position of the metal. For the nine months ending Septem- ber 30, the world production of silver decreased nearly 23 per cent. Since then there have been further reduc- tions in output, and in November the lowest production rate in years. Esti- mates of the supply of silver in the Indian treasury range from 250,000,000 ounces to 450,000,000 ounces. o Gold Transactions. NEW YORK, December 24 (#)—Gold transactions yesterday as reported by the New York Federal Reserve Bank, indicated a ne‘s{“‘k of $1,899,000 in the country’s gold stock. 5 Th‘l:y :fi%um represented the day's excess of exports over imports and gold released from earmark. The moderate exports yesterday and for the last several days were believed to reflect wtmdra‘wnfi t!;ynbgu;g% ;il:lx;ontg for rpose of & strol goldfi;:agruvu in the annual statements. FOREIGN EXCHANGE. d by W. B. Hibbs & Co.) (Quotations furnigfet 7, Soid selling checks lue. tod: London, pound 18, nr‘x’e ru eiga. Berlin, mark. Parmelee found * | four months of the : | weie ~jof the railway Same week last year. “ Pl ey | per THIRD OF REVENUE Economist Estimates Pay- ments to Government for Year of 1931. BY CHAS. P. SHAEFFER, Associated Press Business Writer, The tax bill of railways in 1931 will take nearly one-third of their net rev- enue. An analysis of the situation by Dr. Julius H. Parmelee of the Bureau of Railway Economics, a private agency supported by the carriers, discloses way taxes per dollar during the first 10 months of 1931 was 75 cents. This calculation was made in terms of cents of tax per dollar of revenue, which measures the percentage ratio of taxes to revenues On this basis of measurcment, the increase from 1920 to 1930 was from 44 cents per dollar to 64 cents per dollar, a relative rise of exactly 50 per cent. During the first 10 months of 1931 railway taxes absorbed an even greater percentage of revenues, Dr. The present ratio, he id, was equivalent to nearly 32 per {cent of the carriers’ net revenue after | operating expense the equivalent |of their total ne 1 for about During the last showed the total a road decade the analysis unt levied on the vear except ce collected by the Federal Government in the form of corporate income taxes declined. These two declines, in turn, due to the reduced net income s in yeors taxe i to The Fe nount of St the carriers has trend, 1 eral Governme and local tax per cent dur Dr. Parmelee said. Baltimore Markets Special Dispatch to The Star BALTIMORE, Md., December 24.— White potatoes, 100 pounds, 75a1.05; sweet potatoes, bushel, 35250; yams, barrel, 100a1.35; beans, bushel, 1.00a 1.50; beets, per hundred pounds, 2.50a 350; Brussels sprouts, per quart, 5a15; Savoy cabbage, bushel, 40a50; carrots, per 100, 2.50a3.50, cauliflower, crate, 200a2.15; celery, crate, 1.00a2.00; cu- cumbers, hamper, 3.00a5.00; eggplants crate, 2.00a4.00; lettuce, crate, 3.00a4.00; okra, bushel, 150a2.00; onions, per 100 1ds. 3.00a3.50; plants, 100, peas, bushel, 3.5025.75; peppers, crate, 1.75a3.00: pumpkins, 100, 5.0a10.00; spinach, bushel, 40a65; squash, bushel, 2.00a250; kale, bushel, 35a50; tomatocs. crate. 6.50; turnips, hamper, bushel, 35a1.50; 22532 oyster apples, , box, Chickens—Your 13al5; old hens, 1ial4; roosters, 11al2; ducks, 12a2 geese, 0; pigeons, pair, 20a25; gumnea fowls, pair, 25a45; turkeys, 2230 Eggs—Receipts, 670 cases; current re- ceipts, 25a26: small pullet eggs, 18a2 hennery wi 30a32; nearby firsts, 2 Leghorns, 18; Leghorns, old, " fancy ladles. 20a22 ; tore packed, 15a16. Hay and Grain Prices. Wheat—No. 2 red Winter, export, no quotations; No. 2 red Winter, garlicky, spot, domestic, December, 577; January, 58%. Corn—No 46a47; cob corn, Oats—No. 2 creamery, process, 24a25; domestic, 2.00a2.10. domestic, spot, spot, Rye—Nearby, Hay—Receipts, none. New hay is starting to arrive in increasing quan- tities, but so far no official grading has been attempted. selling being strictly on merit. Demand for old hay slow and market is dull and quiet, with prices in buyers’ favor at a range of 13.00a 16.50 per ton. . Straw—No. 1 wheat, ton; No, 1 oats, 9.00a10.00 per ton. WHOLESALE PRICES. By the Associated Press, Wholesale selling prices slight recession during the w December 18, as their trend was cal- culated by the Commerce Department, In the table that follows the index of all commodities is given for comparabie periods based on_representing the 1926 average as 100. In addition, the selling price for a ton of composite steel prod= ucts is given for like periods: All Commodities. Steel. Week ended December 18 67.0 $30.28 Previous week ... . 611 3036 794 3168 Bond Maturities. NEW YORK, December 24 (#)—Of the estimated $108,232,000 of corpora- tion bond maturities which fall due on January 1, nearly $58,000,000 represent public utility companies, including $9,488,500 of Western Telephone Co. 5s, ‘:‘749,000 Detroit United Railway con- solidated 4l2s and $6,326,000 Montreal Light first 4l5s. Railroad maturities amount to only about $23,700,000, includ- ing $1,186,000 Baltimore & Ohio equip- ment trust 6s and $1,117,000 New York Central equipment trust 415s. Five years ago High, 1931....... Low, 1931 High, 1930. Low, 1930 High, 1929, Low, 1929. . Two years ago Three years ago. High, 1931. Low, 1931 this, showing the amount of all rail-| 3.00a | 8.5029.00 per | STOCK AND BOND AVERAGES - by e sociated Press. P‘ro: Y‘:ste::nfs 5:30 Edition. STOCKS. 50 Industrials. . 612 ASHINGTON, D. C., THURSDAY, DECEMBER 24, 1931 IRAILTAXTO TAKE BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, December 24 —The current income return on two distinct types of investnsent securities illustrates the Tadical change that has come over | the investment market in recent months | | without any corresponding adjustment | in the actual money rate. | For_instance, yesterday the City of | New York 51, per cent revenue bills | were being offered to yield 5V, per cent. | The taxable yleld on these notes to a corporation is 6 per cent. Not so many months ago, New York City thought | it had done a remarkable job In financ- ing when it was able to dispose of the same type of securities at a yleld slightly over 11 per cent. There has been no change in the affairs of the city mean- while. The difference is in the point of | view ‘of the investor, whether an in- | dividual or an institution. Equipment Trust Loans. | _At about the same time that New | York City was selling its notes at the | best rate in many vears, it was pos- sible to distribute” the equipment trust | certificates of the New York Central Railroad on about a 33 per cent yield | | to maturity. Specialists in the equip- | ment business had never witnessed market conditions equivalent to those | ruling when this basis on New York Central notes, and approximately on those of all of the other strong carriers, | was established. Today one could ob- | tain a yield of 7 per cent on similar notes. If he were a hard trader, he might be able to improve this slightly. Railroad equipment trust certificates outrank all other railroad obligations They form a sort of ariscocracy among | securities and have long held the pre- | ferred place in the portfolios of insti- | tutions and of the most careful private investors. They are a first lien on that portion of a railroad most necessary for it to function. So the holder of an | equipment trust certificate is a part | owner in the passenger and freight | cars and locomotives of an_individual line. In the long history of American railroad financing, there have been al- most no defaults’ on_receivers’ certifi- cates. Where these have occurred the holder has ultimately received 100 cents on the dollar. At the present time there are two temporary defaults; those on Seaboard Air Line and Wabash Rail- road equipments. The amounts in- to The Star. NEW YORK, December 24.—Opening cotton prices today were 2 to 5 points higher in dull trading. Most of bid- ding came from the trade and most of the offerings from professionals unwill- ing to carry market commitments over | the_ holiday. | Opening prices were: January, 6.17, up 2: March, 6.35, up 5. May. 6.50. up 3: July, 6.68, up 3, and October, 6.94, up 2. ‘ || Grain Market ‘ B the Associnted Press \ | CHICAGO, Deccmber 24 —Grains |averaged a little higher early today, in- fluenced by reports that wheat supplies | at Liverpool were decreasing. Down- | turns in securities, however, acted as a check on grain advances. | Opening ' off to !g-!s up, wheat {afterward held near the initial limits. Corn started unchanged to ! lower and subsequently kept about steady. | Bullish sentiment among Wwheat | traders gained more force in later deal- ings as the stock market tone improved. Giving aid to the buying side in the ’ ‘heat pit was talk of prospective | | | I smaller production of domestic Winter wheat owing to smaller acreage and to low conditions of the plant in a large ! percentage of the surplus raising sec- tions. On the other hand Argentine land Australian_shipments for the week | | were heavier than cither last week or | |a vear ago, and Russian exports con- | tinued large. totaling for this week. | 1,256,000 bushels of wheat and 1,267,000 | bushels of rye, World's available stocks of wheat | were reported as having increased 12,- | 260,000 bushels in November, compared | | with 26,098.000 bushels increase during | | October. The enlargement last month | | wes chiefly in Canada. Prevailing | weather in Europe elicited bullish com- ‘mmt as being likely to increase con- | sumer demand. Corn and oats derived firmness from wheat strength, and from notice taken that the bulk of the corn visible supply was in Chicago. Provisions were steadied by upturns n hog values. Receivership Order Signed. BALTIMORE, December 24 (Special). —Judge Albert S. J. Owens has sighed an order in the Circuit Court appoint- ing G. W. S. Musgrave and Theodore C. Waters, receivers under bond of $10,000, for the assets of the Great Na- tional Insurance Co., of Washington, D. C., with headquarters at 213-15 East Fayette street. Baltimore. The order was signed upon a bill of complaint filed by the Empire Fire In- surance Co., which claimed it was a creditor of the defendant in the sum of $8228.93, and alleged that it was unable to meet its obligations as they mature. POTATO MARKET. CHICAGO, December 24 () (United States Department of Agriculture). — Potatoes—23 cars; on track, 167; total United States shipments, 416; dull, trading slow; sacked per hundred weight, Wisconsin round whites No. 1 75a80; few 85; unclassified, 70a72':: Idaho Russets No. 1, 145a155; few 1.60; No. 2, 80a95; Commercials, 90a 1.00; few selected cars higher, 20 Rails. 32.4 82.6 82.3 81.2 89.6 972 98.3 99.3 1015 80.2 1014 96.6 99.8 96.0 ®FINANCIAL. HIGH BOND YIELDS ARE RULE AS SECURITIES PRICES DROP Recent Declines in Market Have Boosted; IHRUN_GI!G_SIURES Returns on Capital to Highest Point in Recent Years. volved are an infinitesimal proportion of the total property investment of the | carriers. High Yields. Due to emergency conditions and to the popular prejudice against railroad securities and to a certain amount of necessitous bank liquidation, raflroad equipment trust certificates are now available at termr that woula have startled the investor had they been of- fered him at any time in the past decade. To illustrate: The 62 per cent notes of the Pittsburgh & Lake Erie, known as the “Little Giant” among railroads and in the past having paid annual dividends from 30 to 50 per cent, were available today to yield 6'; per cent. The 6 per cent notes of the Central Railroad of New Jersey, whose 5 per cent bonds have this year sold as high as 115 were reported as of- fered to yield 6% per cent. This is considered one of the strongest of the smaller roads of the country. South- ern Pacific equipment 7 per cent notes are being offered at par, to yield e: actly 7 per cent. Louisville & Nash- ville 6':s, due in 1936, and not there- fore influenced by any early maturing embarrassments, are also offered at par. The equipment obligations of such high credit lines as Chesapeake & Ohio and Union Pacific are avail- able to yield 6 per cent. Where the supply in one maturity is somewhat greater than in another maturity there are frequently differences of between one-half and 1 per cent in the actuai yield in favor of the buyer. Promising Investment Field. This is only another promising field opened to the shrewd judge of values because of the unreasoning fear by in- vestors of things that probably will not happen -and the questionable practice. from a dollar and cents standpoint, of institutions in selling out prime sectri- ties for the purpose of “window dress- ing” and bringing their year-end ratios of cash, already too large for business progress, up to a record level, (Copyrizht, 1931.) @he Foening Star Rikcy o0 Rec —I11 BELATED SHOPPERS Last-Minute Rush Keeps Clerks of Gotham at Crowded Counters. BY_JANE EADS. | By the Associated Press. | NEW YORK, December 24—Until the last light is dimmed and the last counter covered, they crowd in harried masses—the last minute shoppers. But the department stores, bedecked with artificial holly and red ribbons, have prepared for the Yuletide pro- crastinators. Fine, white handrolled linen hand- kerchiefs will fill the bill for Uncle Beau Brummel, where the wrong tie, or gloves that don't fit would ruin his Christmas. If he plays golf there are small wooden barrels full of golf tees, boxes of golf balls, a niblick, or a mashie. For the girl who likes to dress up her room there are tiny embroidered silk pillows, handpainted vanity boxes, hob- nail glass sets for the dressing table, bath salts. A gold bracelet with zodiac charms or one with crystal or jade ephants dangling all about it, are ttractive. Evening bags are always acceptable and those of tiny seed pearls match every ensemble. Huge chiffon handkerchief squares lace trimmed or handsomely monogram- med, enamel vanity cases, rich tapestry or brocaded purses. a tiny fur muff, & handblocked, imported woolen scarf; a metal or rhinestone clip, or & chromium table clock would please the most fasti- dious young lady. Bath towel gift sets, colored glass bath room bottles, small hooked rugs, fire- de crickets, fireplace equipment, salad plates, beverage napkins, electric appli- ances, door knockers, kitchen parapher- nalia, linens and pewter or copper ware, always are welcomed by the home- maker. A huge game chest would satisfy the entire family at once, and a musical cigarette box, or cookie plate, would provide a touch of gayety to the latest last-minute gift. | Winnipeg, Manitoba, is > have & million-dollar civic auditorium. ADVERTISENENTS EIVED HERE You can hardly fail of getting results froma Star Classified Adv. if you state clearly what you want; and properly classify it. T practically everybody. HE STAR'S circulation is so complete through- out Washington and suburbs that a classified advertisement in The Star places it before For your convenience copy may be left at any of these authorized Branch Offices—rendering their service without fee; only regular rates are charged. In the Northwest 11th and Park rd.—Arm- strong’s Pharmacy. 14th and P sts.—Day’s Pharmacy. 1135 14th st. — Marty’s Cigar & Magazine Store. 17th and Que sts. — Ken- ner’s Pharmacy. 15th and U sts—G. O. Brock. 2912 14th st.—Colliflower Art & Gift Co. 3401 14th st.— Bronaugh’s Pharmacy. 14th and Buchanan sts.— Hohberger’s Pharmacy. 14th st. and Colorado ave. —O’Donnell’s Pharmacy, 3209 Mount Pleasant st.— Mount Pleasant Cigar and News Shop. 1823 Columbia rd. — The Billy Shop. 2162 California st. — Co- lodny Brothers. Wardman Park Pharmacy. 215 N. Y. ave. — Sanitary Pharmacy. Ist and K sts.—Duncan’s Pharmacy. 7th and K sts.—Golden- (time clerk’s 7th and O sts. — Lincoln Drug Store. 7th st. and R. L ave.—J. French Simpson. 11th and M sts.—L. H Forster’s Pharmacy. In the Southwest 10th st. and Va. ave. — Herbert’s Pharmacy. 316 414 st. — Harris’ Drug Store. 4% and L sts.—~Columbia Pharmacy. In the Northeast 208 Mass. ave. — Capitol Towers Pharmacy. 4th and H sts. — Home Drug Store. 4th and E. Cap. St.—Paul’s Drug Store. 907 H st—Garren’s Musie Store. 12th and Md. ave~Luck- ett’s Pharmacy. 7th and Md. ave—Louis F. Bradley. North Capitol and Eye—Ken- ¢ ealy’s Phar- macy. 20th and R. L ave. — Collins’ Pharmacy, ‘Woodridge. 3500 12th st. — Brookland Pharmacy, Brookland. 4th and R. L ave, — John G. Biggs’ Phar- macy. Chesapeake Junction —Dr. F. L. Wight, jr. There’s One Near You 9th and U sts—M. H. Hunton’s Pharmacy. Ga. ave. and Upshur st— Petworth Pharmacy. 221 Upshur st. — Monck’s Pharmacy. 5916 Ga. ave.—Brightwood Pharmacy. Ga. ave. and Kennedy st. —Lampkin’s Pharmacy. 2901 Sherman ave.—Sher- man Ave. Pharmacy. 6224 3rd st. — Stewart’s Pharmacy. 1905 Mass. ave. — Dupont Pharmacy. 18th and Fla. ave.—Bern- stein’s Drug Store. Fla, ave. and 1st st—N. Reiskin. North Capitol st. and R. L ave. — Parker’s Phar- macy. 1742 Pa. ave. — J. Louis Krick. 21st and G sts.—Quigley’s Pharmacy. 25th st. and Pa. ave, — Columbia Drug Store. 3315 Conn. ave. — Jol Newsstand. 5017 Conn. ave.—Higgins’ Community Drug’ Store. Wisconsin ave. and Macomb st.—Harry C. Taft. 4231 Wisconsin ave.—Mor- gan Bros.’ Pharmacy. Takoma Park, 359 Cedar st. —Mattingly Bros.’ Phar- macy. In Georgetown 30th and P sts.—Morgan Bros.’ Pharmacy. 30th and M sts.—Brace’s Pharmacy. 3411 M st.—Moskey’s Phare macy. 1834 Wisconsin ave— Haney'’s. Wisconsin ave. and O st.— Donahue’s Pharmacy. 35th and O sts.— Sugar’s Drug Store. In the Southeast 3rd and Pa. ave—O'Don- nell’s Drug Store. 8th and Eye sts, —F. P. Weller'’s Pharmacy. 11th and Pa, ave. — Fealy's Pharmac; 1907 Nic ave., ostia —Healy’s Drug Store. 13th and East Capitol sts. — Lincoln Park Pharmacy. 2204 Minnesota ave. — Sloan’s Drug Store; F. S. Boisfeuil- let, prop.