Evening Star Newspaper, January 3, 1932, Page 28

FINANCIAL BONDS IRREGULAR INHIGHER TREN United States Issues Con- tinue to Show Strength. Utilities in Advance. BY VICTOR EUBA. Associated Press Financial Writer. NEW YORK, January 2—The bond market was disposed to mark time in today's brief session, although prices were irregularly higher. United States Government obligations were exceptionally firm despite their large gains Thursday. It was reported there was strong bank buying in these securities. There was heavier trading in the Treasuries than in the Liberties ‘The latter, however, were not inclined to give ground The utility list came in for more than ordinary attention and a number of | these loans advanced moderately. Among those registering gains were American Telephone 5s of 1960 and debenture 5s of 1965. American & For- elgn Power 5s also advanced. Postal | Telegraph and International Telephone liens were inclined to sag. Railroad bonds did not achieve the sweeping gains of Thursday, but some of the carriers, such as Atchison, Illi- nois Central and Nickel Plate, sold.at higher prices. On the other hand liens of Baltimore & Ohio, Chicago & North- western and Missouri Pacific lost part of their previous advances. Argentine government bonds were the leaders in the foreign category, & num- ber selling up around 4 points at one time. German issues were fractionally lower. The 5'.s were marked up in early trading, but later became easy. Pritish 51,s were firm and Japanese securities showed a tendency to resist recent pressure which caused them to record new lows i Stock privilege issues were mixed in extremely light trading. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATION NEW YORK, January 2.—The fol- Jowing is today's summary of impor- tant corpcration news prepared by Standard Stistics Co., Inc, New York. for the Associated Press News Trend. Brokers loans in the week ended De- cember 30 declined $20.000.000 to & new low record of $591,000,000. Loans made by Federal Reserve member banks for their own account decreased $9,000,000, loans for out-of-town banks were $10,000,000 lower and loans for others declined $1,000,000. The Industries. Lead—November world lead output totaled 119,398 short tons, vs. 117.984, in October, and 144,525 in November, 1930, according to American Bureau of Metal Statistics. The Companies. Long Island Railroad not eligible to borrow from surcharge pool to be ad- ministered by Railroad Credit Corp. because it derives less than 50 per cent of its revenues from freigh transpar- tion. us:mmons Co.—Subsidiary, B. F. Huntley, furniture, not yet on profitable basis; inventory reduced materially dur- year. mgS)‘l\'anlu Gold Mines, Ltd.—Produc- tion period March 31 to November 1 valued at $527,973 vs. $470,979 in 1930 riod. peB!ngor & Aroostock Railroad to lower wagss of all employes in near future. Consolidated Gas, Electric Light & Power of Baltimore gets three-year lighting contract from City of Balti- more; involves about $4,167,000. Hall (W. F.) Printing expected to de- clare 30 cents regular quarterly divi- dend; ennual needs covered by sub- stantial margin in current fiscal year. International Nickel of Canada—No- vember nickel exports valued at $715,671, vs. $1,011,106; 1lmonths, $12,476,491, vs. $18,417.709, Radio-Keith - Orpheum — Stockholder files amended complaint in receivership action agsinst company; alleges Te- financing is illegal and asks company be cnjoined from putting it into effect. Roan Antelope Copper Mines—Pro- duction sold to end of November at prices which permitted operating profit: October output totaled 4,529 long tons; November was 4.362 long tons. Underw-od Elliott Fisher—Savings from economies estimated at over $5,- 500,000 annually. Wesson Oil & Snowdrift—Common ghare earings quarter ended November 30, 51 cents. vs. 75 cents. Western Electric—1931 sales approxi- mated $220,000,000, vs. $361,478,000 in 930, g Atlas Utilities — Substantial interest acquired in Goldman Sachs Trading Corporation. Atlantic Coast Line Railroad cuts officials’ salaries 10 per cent. Service subsidiary gets 10-year Windsor, Ontario, gas franchise. Nashville, Chattanooga & St. Louis | Raillway officials’ salaries cut 10 per cent; 1931 loss estimated at $500,000. Baltimore Markets Bpecial Dispatch to The Star BALTIMORE, Md., January 2—Both the live and dressed poultry markets cleaned up fairly well during the holi- day season and a fair demand is looked | for in the next few weeks. Prices are holding steady on practically all lines, but shipmenis should be limited to prevent a glut on the market, with consequent lowering of values. 'Ship- pers also are advised to ship the ma- Jority of stock alive, as demand for Gdressed poultry after the holidays is uncertain Young hen turkeys, 8 pounds and | over, are bringing 27 and 28 cents & pound and young gobblers, 12 pounds and over, 24 and 26, but old hens and large gobblers are slow sale at 21 and ! 23, while crooked breasts are neglected at 15 and 17. Medium to large mixed colored young chickens are firm at 18 to 22, but Leghorns will not bring over 14 to 17, while poor, thin stock as well re hard to move at 12 fat old hens, 4 pounds and over, continue in good demand at 18 to 22, but smaller as well as Leg- horns not so desirable, at 15 to 17, and it is more a question of buyers than price for small poor fowl and old Toosters, at 11 to 13. A fairly gocd | demand prevails for choice fat young cucks and geese, at 17 to 21 for the former, and 16 to 20 for the latter, but small, poor stock is neglected, at 12 and 13. Market for guinea fowl and pigeons holds steady, at 25 to 40 each for the former, and 20 to 25 a pair for the latter. Egg Prices. The egg market remains unchanged at 30 10 32 cents a dozen for hennery whites, 55 pounds to the case, ang 26 and 27 for nearby candled firsts,” but current receipts are slow sale at 25 and 26, while small pullet eggs will not bring 20 to 22. Receipts of white potatoes continue fairly liberal from all sections, but under a fairly good demand the market holds steady at 75 to 90 per 100 pounds for Well graded firsts, all mixed, ungraded stock having to be sold to the Arab trade at uncertain prics Sweet pota- toes and yams holding stecdy under a fair demand at 1.00 to 1.25 & barrel, but STAR, WASHINGTON, D BOND SUMMARY FOR THE WEEK UNITED STATES GOVERNMENT. —1931.— High. Low. Stock and dividend. 10223 9711 Lib3%s 1932-47.. 9826 Lib Ist 4% 8 1932-47. 9844 Lib 4th 4% s 1933-38. 100 9030 US3%s1940-43. 103 18 90 20 3 10722 9416 US3%s1946-66. 10922 9726 US 45 1944-54 114 8 1002 UBS4%s 1947-52. —1981.— High. Low. 75 Stock and dividend. Abram & Straus 534 8'43. . Alleghuny Co cv b3 44, .. Am Beet Sugar 6s '35 Am Chain 6s 1933 . Am 1 G Chmb¥%s 1949, Am Internation 5%s ‘4 Am Natural G 6%s'42... Am Sm & Hef 1st b3 '47 Am Sugar Ref 65'37.. Am Tel&Tel cv 4% 33 Am Tel & Tel Am Writ Pap 1 Argentine bs June ‘69 Argentine 63 A ‘57. Armour & Co 4%s '3 Armour of Del 5% Atch T & S F gen Atch To & S Fe 4 Atlantic C L 18t 4s ‘62 Atl Coast Liine 4% 8 '€4. .. Atlantic Ref deb 68'37... Australia 6s '56. . Austria 7s'43.. B & O gold 4848, B&Ocv4%s'33 Balto & Ohio 68 '48...a.u. B&Oref 5s'95. B & Oref 55D 2000, Balto & Ohlo 63 '95. B&OPLE&W B&OS W Div bs 60. Bangor & Aroos 45 '61. Bank of Chile 6%s '67. Bank of Chile 6% 8 1961.., Belgium 6s '65. . 2 Bell Tel (Pa) ref 68 '4§ Beth Steel pm 65'36..... Bolivia 78¢ct 69.....0000 Burdeaux 65 '34. Boston & Maine 6s ‘67 Brazil 6%s 1926-57. Brazil 8s 41 4 Broadwy & Tth Av 68 '43. Brooklyn Manh 1st 65 A. Brooklyn Unlon 6a ‘50 Canada 5s 5z, Canada Natfona| 106 108% 102% 1025 102t 108% 1084 891 99 1054 60 Canadian Natl 4 Can Nat July bs Canadian Natl 6369 Oct. Canadiar Pacific deb 48 Ceuntra: Pacific 43 '49. . 4 Central Pacific 55 1960, Certain-teed 548 1948. Chesapeake Corp 68 '47 Ches & Oh gen 4%s '92... Ches & Ohfo 4%s Ches & Ohlo 4% B ChiB&Q4k%s b 17 ChiB&Qref5s'71.... Ch & Eas: 111 gen 68 ‘51 Chi Great West 45 '69 Chi M St P & P 5815 100% 1067 10314 102% 10415 110% Chicago&N Chi& N W 6%8'36. Chicago Rys 5827, 5 Chi R 1 & Pacret 45'34... Chicago Rock Isl 415’60 Chicago R 14%48A.... Chi Union Station 4 4 Chi Union Station 6% Chi & West Ind con 4 Chi & West Ind 5%5°62. . Chile Republic 65 1960. Chile Copper 65 '47. Chinese Govt Ry 68 °51. .. CCC&StLIf4%sETT. CCC&StL6sD. Cleveland Term bs Cleveland Terminal % Colombia 65 1961 Jan. Colon Oil 65°38. Colo & Sou ref 4% Columb G & E deb b5 '52. . Comm Invest 5%s 43 Con Coal (Md) 1st ref & Copenhagen 68 ‘62 Cuba R R 68 '62 Cuba North b% Czechoslovakia §s '5 5 Del & Hudson 6% Deamark b %5 1955. Denmark s '43. ... 105% 54% 68 10 45 Den & R G West Den & R G West 5518, Detroit United 4%8'32. .. Dodge 6340 Duquesne 415 1967 Dutch East Indies 6 East Cuba Sug 1%8'37... E 6. Erie ref 58 '67.... Erfe5s'75.... Finland is'50. Flor East Coas French 9. French T%s 41. Gelsenkirchen Min 6s'34 General Cable 5%s 1347. . Gen Motors 68 '37. : Ger Gov 5% 65 w1 German Bank 6s 193 German 7s '49. Goodrich (B F) 6%s8'47.. Goodyear Rub bs 1957 Grand Trunk s f deb 6 Grand Trunk 7 3 Great North 4% Great Nor gen 5% 8 '52. Great North gen s Greek 63 1968. Hudson & Man adj 6'57. Hud & Man ref 55 b’ Humble O & R 5% '3; I1linois Cent ref 48 '65. [11ino}s Central 4% s 66 Inland Steel 4143 1978. Inter Rapia Tran 5s ‘66 2 Inter Rap Tt 68 sta "66. [rter Rapid Tran 6s Inter Rapid Tran cv 7 Inter Cement 65 '48. Inter Gt Nor adj '65. Inter Match bs ‘47 Inter Mer Marine Inter Paper 53 A 47 (nter Ry Cent Am 6% Int Tel&Tel ov 4%s ‘39 Irish Free State 68 '60. Italy 78'61....... 344 108% 109% 274 40 74 96 107% 1004 79 High 98 99 26 l10224 1002 High. 791 Net Low. Close. Chge. 9720 9730 +.01 9826 9924 +.10 9844 9922 +.06 90 30 -.24 90 20 94 16 9726 Stock 59 48 81 80 39 37 Kan Cit. Kan Cit Kan Cit; Kan Ga. Kendall Kreug& 9315 Lackaw 10210 Lehigh Liggett Loew’s Low. Close. 76 1 Louls & Market Mexico 874 63 6914 92 1014 103% 101 104 9614 25%9 Mo Kan Mo Kan Mo Kan Mo Paci! Mo Pact; Nassau % Nat Dal 1061% 112% 6913 102% N Y Cen ¢ Chi NY Wes & Bos 41434 Norfolk North A North Pacific 38 2047. North Pacific 4s ‘97 North Pacific 68 D 2047 North P: Norther: Norway Ore Wash 1st ref 4s°61... Orijent Dev 5%s '57. . . Pacific Gas & E1 55 '42.... Pacific Tel & Tel 68°62... Pan-Am Para-Fa Paris-Lyons-Med 6s '58.. Paris Oy Penna cn 4%s 1960. Penn gen 415 '65. Penna R Penn 4% '63. Penn 5s fenn gen b= '68. Penn 6%s '36. Peru Peru Philadel Phil&Read C&1 65 w1'49. Philips Petrolm 6% s'3Y.. Pireili C Pittsbgh&W Va 4%s C'60 Poland 8s'60. .... . Postal Tel & Cab 58 '33... Queensland 6s '47. Queensland 7s 41, Reading Reming. Rhinelbe 7s 5 Rnine Westphalia 6s'62. . Rio de Janeiro 88 '46..... Rio Gragde Do Sul 6s'68. Rio Grand West col 4 RIATk & L 4%8'34 Rome 6%s '52.. SLIM&SR&G 4 StL&S StL&S St L & San Fr 68 B '60 0% St Louls StPKC & Sinclatr Sinelalr Sinclair Souther South R 36% +2% 43 —11% 3% 5 +1 110% 112% —1% 111 111% — % 29 33 +1u| 40 40 -5 Sugar E: Tenn Co; Texas P: Third A Third A Toro Kl Union Pacific 1st 48 47 Union Pacific 48 '68 Un Pact 9215 +1%4 Utd Kin 6813 +2W T6ly + 4% 93 4214 —6% 2% %o+ 2% 9% + % 2% 424 Wabash 3;‘,‘ 45 4 Wabash 75 Wl 9 314 Wabash 0% —1% Wabazh 40% —1% 3 305 8 Walwor! 61 62 56 8 t Maryland 6748 '77.. Western Western Union Tel 634 Wilson & Co 1st 63 '41. Yokohama 6s '61. 25 Youngstown Steel 53 '78. | 101% 85% 1%, 103% T7'% Japanese 6% s ‘54. . Laclede5%s D '60. . 4 Lorillard 6%s ‘37 4 | 100 Midvale Steel 58 ‘36 : Milan 6%s 52 e MIIEIR & L 18t : 4 Mo Pacific gen 4s'75.. Mo Pacific 63 A '65. Missouri Pacific 5s H '80. Montana Power b3 1943. . Nat Radiator 6%s 1947 [ 5 Netherlands 6s'72. ... New England Tel 5s '62. . New South Wales'57 N Y Centdeb4s'34...... N Y Cen ref imp 68 2013. NY Chicago & StL 4%s NYCh& SLref6%sA.. Sao Paulo State of 8s Seaboard A Liref 4s'59. .. Seaboard A L ad) 5s'49 Seaboard A L con 6s°45.. 4 Seine Deptof I8......... Serbs.Croats&Slavis'62. . Serbs Croats Slov 88 6! Southwes Bell Tel 5s'64. . South Pacific col 4 v South Pacific ref 48 '55. South Pacific 4 %8 '68. ... Southern Pac 4%5 69 ww Southn Pac Ore 4%s'77.. Southern Ry 15t 55 '94. Southern Ry gen 6s '5 Stand O11 N J 68 Stand Ol N Y 4%s8 61 Swiss 5%48'46. . Texas Pacific 5 United Drug 68 Soee 92 B8 & +20 | U S Rubber 181 & ref 8s. . Uruguay 65 1960 : Utan Power & Light bs... 907 86% 90% +24 | Utllittes P & L 6% 47 i Vienna 65 1952. 5 5 7% | Va Ry & Power Virgina Ry 18t 65 '62 Walworth 6%s '35... Net Low. Close. Chge. 7 8% ~1% 61% + % 6214 — % and dividend. High. . 9% 1% 611y 631 841 y South 3s 1950 y South s '50. y Ter 1st 4s'60 S & Elec 4%580.. 51848 (war)... Toll 6s ct wi'59.. anna Steel 53 '60 -1 +3% -1 + % - 6% + o+ % Val cn 482003, & Myers 6s61... Inc 6s ex war'4l.. +1% 4 +5% Nash uni St Ry s A '40. 451904-54 & Tex 1st 48 & Tex ad) 68 '67. & Tex prin 5sA. . fic bs k fle 53 G.. Elec 48°51....... ry Prod 5%s'48. . © 100% 997 401y 83la 7019 tdeb 6s'35. & StLouls 6s '32. & W cn 48’96 mer Ed 6s 67 acific 1 68 2047 .. n States Pow 0. . S48 100 100 477 erican 6s 34 m-Lasky 6s leans 5% s 1968. . R4%s8'70 1964 ‘60 phia Co 58767.... ‘0 of Italy 78 '52. . 4%s°97 Rand 6%8 '47. 33, Fprin4s A’50. F4%45'T8. S W con 4832 S Line 4% 0117837 Crude Of1 h Pipe Line bs " n Ry gen 4s 66 y dev 6143 ‘56 5 100% + % 89 +1% st Orlente 5 24 +1% pper 65 B '44. . B'T1. acific s C '79 ve Ist ref 4s ‘60 vead) bs 60 ec Pwr 78 '55. . fic ref 4s 200! gdom 638 ‘3 104 3% 915 70 9% 41481978 15t 5839 6s B 1976 58 D'80... 5%s 15 th 65 45.. 1 Pacific 68 '46. 6215 60 3.00 and 3.50 per hundred pounds; oys- ter plants, 400 and 5.00 hundred; pumpkins, 5.00 and 10.00 hundred: Savoy caggage, 40a50 bushel; spinach, 1.00 and 1.15 bushel, and washed tur- nips, 15825 hamper, Live Stock Market. The live cattle market dull and drag- gy, but is expected (o improve next week. Only first quality stock attracts attention and all common, undergrades are slow sale. Quotations today at Light Street Wharf: Beef cattle, first quality, pound, 6':a bulls, as to quality, pound, 3a5; cows, choice to fancy, pound, 4a5. common to fair, pound, 2a3; oxen, as to guality, pound, 3a5; calves, veal, choice, pound, 7a7';; large, fat, pound, 5a6; rough, pound, 4a5. common, thin, pound, 8 to 4; sheep, pound, 1%a2 Spring lambs, choice, pound, 5},a6'; fair to good, 3a5: hogs, straight, pound, 5a51,: sows, 4a4l5; stags, pound, 2a3; 6a8. Business Notes NEW YORK, January 2.—Widesprea unemployment makes the outlook un- favorable for manufacturers of semi- luxury household products like electric sewing and washing machines, vacuum cleaners, furniture, floor coverings, etc., according to Standard Statistics. ‘The same authority finds that manu- facturers of soap, matches and mechan- ical refrigerators are operating under comparatively favorable conditions. These products continue to show & strong resistance to recessionary in- fluences, | After holding at relatively satisfac- I tory levels throughout the greater part of 1931, sales of drugs and medicines recently have shown a tendency to de- ungraded stock will not bring over 50 to 75 a barrel. Demand for native and nearby gar- den truck only fair and prices are most- 1y in buyers’ favor at the follo'llng quo- tations: Beets and carrots, 2.50a3.50 per hundgfl. kale, 75a85 bushel; onions, cline. In many instances the reces- sions are regarded as the result of un- seasonably warm weather. ‘The Irish Free State is increasing its income tax. large, | live pigs, pound, 8al0; shoats, pound, | | | | | | (standard statistics Co.. New York.) | NEW YORK, January 2 (#).—Of the 26 important commodities in the fol- lowing table, 7 are higher in price than last week, 8 are lower, and 11 remain unchanged. This Last Unit. Wi Week. Butter, creamery. extra..Lb. flats, fancy Lb. common to medium, pound, 4a6; | . ‘Lb. | i plg o< Lb. 7 | | Linseed oil. carlots.... . Lb. Petroleum, ‘Okla., 32" d Bbl Resin, B ...... Bbl. Rubber. piantation Lb: ve, No. 2 Western. ... . double extra . Piltsburg’ cariols rd Win., \A.T. &T. HOLDERS GAIN 600,000 IN 50 YEARS American Telephone & Telegraph Co. will end the year with close to 642,000 shareholders on its books. This com- pares with 567,694 at the end of 1930, which figure was 97,893 more than at the end of 1929. When the American Bell Telephone Co., the parent of the present Bell s tem, paid its first dividend on January 1, 1881, its sharcholders numbered 540, | ot which 450 resided in Massachu- setts, the remaining 90 being scattersd through a few States, chiefly New Eng- land. Today checks are sent to stock- Union and to 70 foreign countries. stockholders, and in 1900, after becom- mi the parent company, the American Telephone & Telegraph Co. had 7,500 stockholderss ‘TRENDS FORECAST 7| Among the conclusions drawn by the lin the various items comprising the | holders residing in every State of the | 4 In 1890 the Bell system had 3300 | Pri FOR HALF OF 1932 C., JANUARY 3, 1932—PART TWO. NEW YORK STOCK, EXCHANGE (Continued From Page 6.) P e —1931— Stock and Bales— High Low. Dividend Rat 4% % Snider Packing. 15% 2 Snider Packingpf... & 8% Socony-Vacuum (1). 848 45 SolvAmpf ww(s%). 2 6% South Port Rico Sug 65 87 Sou P RicoSug pf(8) 30s 28% Southn Cal E4 (2)... 176 265 Southern Pacific (4) 445932 Southern Railway. ..189508 Southern Rallway pf 35 So fl_\')l&(\rvffi (4) 10 Spalding (A G) (1)..11508 Spald (AG)1st pf(7). 608 Spang-Chalfant.... 1008 Spang-Chalf pf (6).. Sparks-Withingto Spear & Co pf (T)«-. Spencer Kellog (80¢) Spicer Mfg. . . 3 apicerl\lflps((l). 5 17 Splegel-May-Stern. . 2014 Stand Brands (1.20).500508 124 Stand Brandspf (7). 81 4 Stand Comel Tobacce 16 88% Stand Gas&El (3%). 132 647 Stand Gas&El pf (4). 11 101 Stand Gas&kl pf (6). 11 109% Stand Ga: pf () 3 % Stand Invest Corp. . 41755 and Of] of Cal(2%)26908s Stand Oti Exp pf (5) 4 Stand Oll of Kansas. 16 Stand Of1 NJ (12). .. 85460s Starrett (LS) (80c). 2508 Sterling Secur (A).. Bfléfll Sterling Secur pf... 29768 Sterling Secur cv pf. 45 Stewart W 1 Sione& Webster (m2) 144508 Studebaker Co(1.20) 12 Studebaker pf (7)... 50 Sun Ofl (1).. B 1 Sun Oil pf (6 Superheater Corp(1 Superior Oil. Superfor Steel. ... Sweets of Amer (1). Symineton Svmington 108 4540s 10% 114% 1% 2514 s 1l 91 2 974 22 19 1% 4% 3% 24% 5h 1% 5l 1% 12 6% 74 Thompson Starrett.. 1415 Thompson-Staret pf. 214 Tide Water Asso Oil 20% Tide Water As pf(8) 30 Tide Wat Oll pf (5). 315 Timken-Detroit Axle Timken Roller B(2). Tobacco Product Tobacco Prod A t Transamerica Corp. 322328 Transue & Williams. 8 Tri-Contl Corp...... 136 Tri-Contl Corp pf() 6508 Trico Products(2%) 10 Truax Traer Coal Co 16308 Truscon Steel. s Twin City Rap it 6 Twin City R Tr pt(7) 608 Ulen & Co. 2 13% Underwood-ElL-F (3) 64 100 Und El-Fish pf(7).. 20s 1 Union Bag & Paper.. 8508 4 Union Carb & (2.60).57521s Union Ol of Cal (2). 56 Unfon Pacific (10).. 19727s Unfon Pacific pf (4). 11 Un Tank Car (1.60). 39 Cnit Afreraft....... 595268 Unit Afreraftpf (3). 28 Unit Am Bosch 12 Unit Biscult (2). Unit Business Pul Uait Carbon. Ualt Cigar Stor Uait Corp (76¢). Unit Corp pf (3) 131505 Unit Dyewood pf (7) 30s Unit Electric Coal... 9 Unit Fruit (3). 190255 Telautograph u.m).“ Texas Corp (2). Texas & Pacific. Tex Guif Sulphul Tex Pacific Coal&Oll 89 Tex Pacific Land Tr 93505 Thatcher Mfg Co.... 21 Thatcher Mfg pf 3.60 The Fair 1). Thermold Co Third Avenue. Third Nat Iny (1. Thompson (J R) (1) Thompson Prod 1.20 1150; 1 Add 00. High. Low. Close. Chze 4 % % % — 4 Btock ana Bales— Dividend Rate. Add 00. High. Lot Net. | 37% 15% Unit Gas&Im(1.30). 665302 19 Unit Gas&Im pf(5).., Unit Pice Dye W (1), 1% U S & Forn S U S & For Sec pf(§) .. 144 U S Gypsum (1.60).. (=] aa H Az gs s Indus Aleohol. Leather.... Leather (A) Pipe & Fdry (1). x Plpe&Fy 15t1.20 x 7 Realty & Imp Rubber 18t pf. .. Smtg & Ret (1). U S Smtg&Ref pf 3% s U 8 Steel Corpa (4 qqaqdegdea nuRunlnne 6 13% 3 United Stores (A) United Stores pf (4). Unlv Leaf Tob (3).. Unlv Leaf Tob pf(8), 80s Univ Ple 18t pf (8).. 1508 Univ Pipe & Rad.... 33 Util Pwr & Lt A (2).90258 13% 12 1514 114% 2% 2 3014 36 59 68% % 25% 87% 10 28% 26% 31% 55 64% T 11 Vanadium Corp.... 22 Van Raalte 1st pf... 1% Va-Cora Chem...... 2% Va-Car Chem 6% pf. 84 Va-Caro Chem pt (T)™ 2 81 VaElec&Pwr pf (6). 3608 2 3 5 VaIron Coal & Coke. 185 20% Vulcan Detin (4). 69 Vulcan Detin pf (7 % \abash R R.. 1} Wabash R R (A). 1% Wabash RR (B) 17% Waldorf Sys (1%).. 115 Walworth Co... Ward Baking (A) Ward Baking (B). ... \Vard Baking pf (7). Warn Bros Plctures. Warner Bros pt 3.85. Warren Bros. Warren Bros Warner Quinlan Warren Fdy & P 1 Webster Eisenlohr. . Webster-Eisenlhr pf 210s Wesson O11&Sno(2). 30508 4 Wesson O&Sno pf(4) 1 West Pa ELpt (6)... 2908 West Pa Elec A (7).. 1508 West Pa ELpt (1)... 4 West Pa Pwr pf (6). 5 West Pa Pwr pf (7). 1208 Western Dairy (A).. 9 Western Dairy (B).. 28 Western Maryland.. 67 Western Md 2d pt. .. Western Pacific. . Western Pacific pf. Western Unlon (6).. 207 4 Westinghouse (23 ).74522s 2 e AB(2). s 91 15t m37% Weston Elec Instru. Westvaco Chlor 1.60. W hite Motors. ...... White Rock (t413)., White Sewing Mach. White Sewing Ma pf. Wilcox Oil & Gas. Willys-Overland. ... Willys-Overland pt. Wilson &C.... : Wilson & Co (A) Wilson & Co pf. Woolworth (14.40).. Worthington Pump. T4 Wright Aeronautical % 46 Wrizley (Wm) (0).. 31 - ; 8% Yale & Towns (1) L2 3 Yellow Truck 15 Yellow Truck & C pf. 2308 6 Youns Spring& W(1) 21 12 Ygstwn Sheet&Tube. 46 % Zenith Radlo....... 52508 6% Zonite Prod Corp (1) 35 RIGHTS—EXPIRE. % % PeopGL&C..Jan15 T4 1% Dividend rates as given in the above tabl payments based on the latest cuarterly or h 1y xEx-divicend. sLess than 100 sha 4% in stock. fPlus 3% in stock | b Pavable m stock § = WS Al Sehaia' this Yeer e 19% + 35 ttock B Pluz 2%a% in stock FoRUInL ATt 4 23% 87% 9% 264 19 470268 3 13 2% 165 09'y 8 4% 1 5 % 6% * 34 33% 3% 24 e ® Payable in cash or stock 400+ the annual eash larations. 1Pl Jear—no regular rate. us 3% i sto RIS Soc (0 sbecial breterred atock & Bias o Pius 0% in Partly extra FINANCIAL. STEEL OPERATIONS SHOW SLIGHT GAIN Trade Hopeful of Better De- mand—Structural Orders Up Sharply. By the Asscclated Press. NEW YORK, January 2.—Reflecting moderately improved buying and re= opening of some plants following the Christmas holidays, steel operations ex= panded slightly in the past week, bring- ing the estimated rate of production up to 22 per cent of capacity. The trade is hopeful that further im= provement will develop from the auto- motive trade as well as rallroads whus the advance in freight rates becomew effective January 4. Structural awards gained quite sharply- The price out- look is still said to be unsettled, and a though efforts to bring about a steadier basis for the first quarter are reporved, metal is still being sold at concessions. Pig iron was barely steady, although slightly larger shipments were made. Copper remained quiet, with domestic consumers still out of the market and foreign demand tapering off sharply ‘when the London market turned easier. In the absence of demand, however, sellers are not pressing the market and prices hold steady at 7'4 cents for elec- | trolytic delivered in the Connecticut Valley. Domestic tin prices have eased under | the regular import parity, owing to | moderate dealer selling pressure, but there has been no improvement in de- | mand with consumers remaining out 3 | of the market. 1Ll +++1411 F FTFTEFEET ¥ Fl+ —re EEE + ¥ il e e C o 4 WILL REDEEM BONDS. + w| Dillon, Read & Co,, as fiscal agents in | the United States for the Kingdom of the Netherlands 6 per cent 50-year —3iy | loan of 1922, have notified holders of +1% | the series A bonds that the government + 3 | Will redeem on April 1, 1932, all of the —1% | bonds then outstanding, amounting te | 150,000,000 guilders (approximately +1% | $60,000,000). The operation will mark —2 |one of the largest foreign government + % 4 — % loan redemptions in some time. +4h ——= — Wanted—Partner or Investor —with $3,00000 cash to begin manu- facturing a dental article with patent applied for. which has no competition and is in great demand. Business ref- erences exchanged before proposition. J. W. Lauderdale, Representative 5 Rixes Bank Building 14th & Park Road N.W. Phone Col. 7511 between 4 & 6 P.M. —_————————— EARNING POWER Investment Trusts Sheh No Investment Is Stronger Than Its Earning Power Bernard P. Nimro & Co. Hill Bldr., 17th and Eva Sts. N.W. NAtional 9733 LIRS Authorized Service Wico-Webster R. W. & Simms Magneto Repairs MILLER-DUDLEY CO. 1716 14th St. NW. North 1583-4 Money on Hand to Loan on First Deed of Trust BUILDING ESTIMATE :(TOTALS $4,312,839,019 Trade Magazine Compiles Figures for Operations Throughout Nation in 1931, By the Assoclated Press. CHICAGO, January 2—American Builder and Building Age has estimated that $4,312,839,019 was spent for con- struction in the United States during 1931, This was slightly more than half ie average for the preceding five years. The magazine estimated that 317,535 bujldings were erccted during the vear. | ost construction dropped 13 per cent, from $4.90 a square foot in 1929 to $4.27 in 1931, of residential | the magazine said, despite a “steadily gecurea by first deed of trust on re progressing tendency pensive equipment in dwellings of types.” Value of different types of constric- tion was given as follows: ~Resident; $1,764,605,797; commercial, $365,09 241; factories, $131,101,281; education- al, '$257,235.318; hospifais and institu- tions, $127,107,583; public, $192,680,775; religious and memorial, $61,171,878; social and recreational, $115,066,789, and public works and utilities, $1,293,- 772 * I to use more ex: all Money Available for Mortgage Loans or for refinancing, let us have your application and E‘F you wish to make a First Trust Loan, either new we will give it prompt consideration and report. Loans are considered for apartment houses, office Further Changes in Cost of Living Predicted—More Mergers Expected. | Standard Statistics Co. in its' first-of- | the-year review of business are the following: “Despite the probable termination of the price decline in raw materials, further readjustments will be registered cost of living. buildings, residential and business prop- erties—and made for 3, periods — at RANDALL H. HAG MORTGAGE LoAN 1321 Connecticut Ave. * ith in the effectiveness of arbi- attempts to arrest the course of | deflation will be replaced by the recog- nized necessity for individual and pub- lic budget balancing. | “A relative increase in the burden of fixed charges will everywhere make it | necessary to emphasize the price factor in making purchases. [ Real wages will not decline, “Under present conditions, export | business will be of small proportions. “We expect & revival in merger activity. “The depression has revived careful | thinking, which should increasingly as- sert itself in industrial planning.” | FOREIGN EXCHANGE. (Quotations furnished by W. () 3 Nomina1 xaid sellis o) value. ;| 3309, 22.75¢ 10.51¢ Invest your Savings or any other Surplus Funds in— C o ns e rvative Appraisals, Cer- tificate of Title, Fire Insurance and Careful At- tention to Details. ‘Copenhagen, Oslo, crown..... Btockholm, crown Wm. H. Saunders Co. Est. 1887 1519 K St. N.W. | il SINCE_ 1899 2l MONEY TO LOAN | At 5! 6% Trust Interest Semi-Annually ]RAILROAD ASKS DELAY | By the Associated Press. | _ST. LOUIS, January 2.—Officials of | division, the St. Louis-San Francisco Railroad announced from headquarters here to- day that in order to meet bond interest payments the road was asking a post- | ponement of tax collections in three of the nine States in which it operates. | The three States are Missouri, Kansas |and Alabama, where the delinquent taxes total about $1,600,000. | In a statement, E. T. Miller, vice president and general solicitor, said the Frisco had sufficient cash to meet the | tax charges, but because of bond inter- est of $2,480,000, due January 1, and an | installment of about $1,000,000 on an | equipment trust obligation, cue January 15, preferred to defer tax payments for “a brief period.” | R LR LR SRR UL AR R LR R LR AR LR | Money to Loan Frevailing interest and. commission: ~ " Joseph 1. Weller g wan. 1, & 70 % and 6% Interest acing or Remewing Your Ist and 2nd Trust | Consult WELCH Realtors Loan Specialist Before 15th & ve. N.W. (National Savin; rust’ Co. Bldg.) and T | National 4346 5 or SAFE 5% NER & COMPANY CORRE SPONDENT Decatur 3600 — First Ozer a Third of a Ceutury Without a Notes Loss Secured on Washington, D. C. Real Estate National 2100 District 1015 THERE IS ‘NO New Passenger Traffic Head. NEW YORK, January 2 (#).—Effec- | IN TAX COLLECTIONS tive sanuary 16, 5. W. Switzer will be- | _ come passenger traffic manager of the | New York Central Buffalo and Eastern | with headquarters at New i York. Joseph R. O'Malia has been ap- | | pointed general coal traffic manager. | | | B RESET 67 Interest Reasonable Commission and Prompt Replies to Applicztions JAMES F. SHEA 643 Indiana Ave. N.W. Patent Attorneys The Woodward Office Building 15th and H Streets N.W. —just three blocks north of the new Patent Office, offers many desirable advantages to its tenants in the heart of the financial district; close to hanks, real estate, insurance and brok- erage offices; offers an outside office at $25.00 per month,eor a suite can be arranged to meet your requirements, Rental Office, 510 Woodward Bldg. National 5516 Randall H. Hagner and Co. MORTGAGES LET YOUR MONEY MAKE MONEY FOR YOU That's what it amounts to when you make investment in our 6% FIRST MORTGAGES You are putting it to work at defi- nite “wages”; for a definite period— and at the maturity of the mortgage the principal will be returned in- tact—for it has been secured by conservatively ‘Washington real estate. appraised improved May be purchased in amounts from $250 up. B. F. SAUL. CO. 925 15th St. N.W. SUBSTITUTE FOR SAFETY