Evening Star Newspaper, January 6, 1932, Page 14

A—14 =x¥x FIN ANCIAL. THE EVENING STAR, WASHINGTON, :D. C., WEDNESDAY, JANUARY 6. 1932. FINANC ITAL, \ BANKER SEES SIGN OF BETTER TIMES Head of U. S. Investment Group Finds Basis Laid for Prosperity. BY 1 Netional Old ‘The way to view the year 1931 is as an increasingly solid pathway to gen- eral economic solidity. In view of the present natural state of the public mind toward any statement that savors of optimism, it may be helpful to re- view briefly the reasons for this state- ment In 1930 we faced the surface hard- | ships resulting from drastic decline: in commc ces_equity prices a prices of other irities which, thou | often ar ally considéred sound in- vestments, were not cf the most con- servative class Up to the close of 1930 there was latent in the minds of the majority. without question, that although the price reduction was drastic and the evils attending it were serious, never- theless it was still to be hoped that some miraculous turn for the better would restore the well remembered years of 1928 and 1929, which still stood out in the mind in all the rosy hues that had marked their triumphal progress Readjustment Slowly Realized. As the year 1931 progressed and as even the highest grade investments | joined in the precipitate price reduc- tion, and as the industrial and utility | concerns, banking institutions and, by no means least, governments began to take stock of the stuation, fear and chagrin and melancholy having had y, & new thought became gen- K s a gradual but certain con- viction that a return to the specula- tive days of 1928 and 1929, to say nothing of a few of the years immedi- ately preceding, was not what was de- sired or what was good for us. It turned out to be a surprising thing to find how uneconomical, inefficient and unquestionably wasteful some and many of the methods and practices that had been allowed to creep into | our public and private, domestic and international affairs, had unwittingly and unknowingly become. By the Summer and early Fall of 1931 there was a general conviction that we were face to face with a com- plete readjustment of relative prices and services and a complete readjust- ment of thought and conditions to meet them. Solid Stepping Stone Viewed. Without question the full 1'(’a!lzatiuni of this tremendous economic change was coincident with the cessation of blind fear. Fear is always engendered more by anticipation than by full reali- zation. The fog of mystery, in other words, that surrounded the downward | plunge of prices suddenly was pierced and we suddenly, as it were, came to a realization of where we were and where we could land. It would not seem too optimistic to even venture the remark that we had landed For this reason it seems we are on a ¥20lid stepping stoné that leads to more solid economic stability. We have been encompassed with many hardships. The experience has taught us how to an-! ticipate many that will come. As month has followed month we have learned to be patient. In the year 1931 we learned how to work and learned that work is pecessary. In the last half of the year there was a growing convic- tion that not only is work necessary, but that working together is essential, both with those within our borders and those without. Intelligent, hard work has been the panacea for over- coming difficulties since the world be- gan, and it seems possible that for a year or two we forgot it. It seems cer- tain that we now realize it and it seems cbvious that we are going to apply it. ALLE) 1 C Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md, White potatoes, 100 sweet potatoes, bushel, 40a80; barrel, 1.00a1.50; beans, bushel, 2.50;" beets, per 100, 2.50a3.50; Brussels sprouts, per quart, 1215a25; cabbage, bushel, 40a50; carrots, per 100, 2.50a 3.50; caulifiower, crate, 1.75a2.00; cel- ery, crate, 1.25a2.50; cucumbers, ham- per, 3.00a5.00: lettuce, crate, 4.0085.25; onions, per 100 pounds, 3.00a4.00: pep- pers, crate, 150 spinach, bushel, 50a1.10; squash, bushel, 150a2.00; to- matoes, crate, 1.25a3.50; turnips, ham- per, 15a25; apples, bushel, 35a1.25; egg- plants, crate, 1.5082.75; grapefruit, box, 1.25a3.00. January 6— pounds, Dairy Market. Young, 17a21: Leghorns, 14al17; old hen 15a21: Leghorns, old, 15a16; roosters, 10al12; ducks, 12a23; ; guinea fowls, pair, 25a40; , 16a30. Receipts, 1,782 cases; current 15a20; hennery white, 25; | 21, | Good and fancy creamery, | 26a30; ladles, 20 process, 24a25; | store packed, 14a15. Live Stock Market. Receipts, 25 head; light sup- ket steady Choice to prime. N0a8.00; medium to medium 3.504.00 Chickens Cattle- ply: m Steers- to chol 5.56a6 i plai 3 Bulls—Ch to_choice, none 4.50; fair to mediu none: good to 4.25a5 common to | 50 ice to prime, none; good medium to good, 4.00a 3.5024.00, plain | dic ! transportation of 65 per cent, whil: | (Continued From Page I Bales— Add 00, e —1931— Stock and High. Low. Dividend Rate 26 2% OlivFarm Eq pr pf.. 615 1% Omnibus Corp. .. 75 4% Orpheum Circult pi 5815 16 Otis Eievator (234) 16% Otis Ste 29% PacificGas & El (2). 25 Pactfic Lishting (3). 4% Pacific Mills. ... 933 Pacific Tel&Teleg (7) Packard Motor (40c) Panhandle Pro&Ref. Par-Pub (b10% stk). Park Utah. . .o Parmelee Transport. Pathe Exchange (A) Peerless Motor Car Penick & Ford (1) Penney (J C) (2.40).. Penna Rallroad (1).. Peoples Gas(Chi) (8) Pere Marquette pr pf Petrol Corp of Am Phelps Dodge Co. Phila Co new (6). ... Phila&Rleading C & I Phillips Petroleum. . Pierce-Arrow pf (6). Pierce Oil of . Plerce Fetroleum. Pittsbgh Screw & B. Pitts United pf (7).. Poor & Co (B)... Postal Tel&Cable pf. Prairie Oil & Gas.... Prairie Pipe Line.... Pressed Steel Car. Pressed Steel Car pf.. Proct & Gamb (2.40) Public Sve NJ(3.40). Public Sve NJ pf (5) Public Sve NJ pf (6) Pullman Corp (3). PureOfl........ Pure Oil pf (8) 10% Purity Bal.erfes (2). 5'x 1o Corp. ceses 20 RadioCorppf A3%. 9'; Radio Corppf (B) Radio-Keith-O(new) 3 Raybestos Man(1.60) Remington-Rand. .., Reo Motor Car(40c). Republic Steel. 815 Republic Steel pf 3215 Reynolds Tob B (3).. % Richfleld Ofl. 1% Rio Grande Ofl...... 13 Royal Dutch of NY.. 38% Safeway Stores (5).. 631 Safeway Strs pt (6). 71 Safeway Strs pf (7). 7 St.Joseph Lead(60c). 3 StL-San Francisco 4% StL-San Fran pf(6 3 Schulte Retal] Stores 1 Seaboard Air Line. . i Seaboard Air Line pf 513 Seaboard Ofl. ... 301 Sears Roebuck (2 % Second Natl Inv..... Servel Inc . . Shattuck (F G) (1).. 4 Shell Union Oll...... Shell Union Oil pf Shubert Theaters. SImmons Co......0n Simms Petroleum. .. Sinclair Consol Ol Sloss-Sheff Steel pf.. Snider Packing pf. Socony-Vacuum (1). South Port Rico Sug Sou P Rico Sug pf(8) Southn Cal E4 (2)... Southern Pacific (4) Southern Raflway. Southern Railway pf So Ry M & O ctfs (4) Spalding (A G) (1).. pald (AG)1st pf(7). Spear & CO pf (7).... Spicer Mfg. Spiegel-May-Stern Stand Brands (1.20). Stand Gas&El (3% ). Stand Gas&El pf (4). Stand Gas&El pf (7) Stand Ofl of Cal(2%) Stand Oil of Kansa Stand Ofl NJ (12). ... Starrett (LS) (80e).. 16 Sterling Secur cv pf. 1 3 15 34 4 60s 708 50 4 1 a4n 64 50 92% 10% 25% 102% 12% 165 72% 23% b Bean EETOE- PR 194 -k J i PN 100: [OY0S-3 FOTOTQ e 554 270 60 c 2 2919 19% 104 26% 54 545 6% 10% 42% + ‘ ‘ EETYe 5 408 50s 2 2 33 37 1 2 24 1 84 1 2 3% 6% 19% 394 Rlg 98 NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. 3.) et h. Low. Close Chege. 3% 3% + % 15 1% 6 6% + W 193 +1% 3% 34 39 8 ) 11 1 Superhea Symingto: % +1 +1% 19'3 Tex Gulf 24% Thatcher 44 1 814 1t 17 2 % 6 Tobacco F Tobacco ¥ 2 2 Tri-Contl 3613 Tri-Contl 24 Trico Pros 2 1113 Twin City Union O11 DAt Ciga Uit Corp Dnit Corp Unit Frul 2618 17% 15% 9 1% 141 20% 1% 3% 10 5% 38 6a 12% 36 94 1% 21 Unit Pice U S & For U 8 Indus U S Leath U S Leath: U S Realt; U S Smtg U 8 Steel U S Steel 9% 52 31 T6% 109 United St 11 81 26 Wabash K 51 27T% 15 5714 20% 40% 46% 60 26% 5T 105% 103 112 11315 120 127 19% 140 150% 3614 107% 119% 70 26% 5 10% 8 2% 106% 80% 27 154 6 78 14 n 1l 1™ 1% 24 Warner B ‘Warren B! Wesson O Weszon O Westingh: Westingh Wsthse E. Wheeling White Mo Woolwort 4 Worthing! Wrigley ( S AT 3 12 Ygstwns RI % PeopG L Sales of Stox 10:30 AM. 1:30 P.M. Dividend rates as EL xEx-divicend. 4% 1n stock. (Plus 9% b'Eavable in stock. e P B Plus 2% in stock. | 3% in ‘stock. m Patd stock. D Plu3 2%% in Stock and 9 ' Studebaker Co(1.30). 26% Sun Of1 (1) Corp (2) 4% Tex Pacific Land Tr. 11% Third Nat Inv (1.05). 6% Thompson Prod 1.20, 215 Tide Water Asso Ofl. 31, Timken-Detroft Axle % Timken Roller B(2). 13 Tobacco Product: Transamerica Corp.. Twin City Rap Trasit 13% Underwood-ElI-F (3) 2714 Union Carb & (2.60) .. Union Pacific (10).. Un Tank Car (1.60).. Cait Afreraft...... Unit Alrcraft pf (3). "nit Gas&Im(1.20) U S Gypsum (1.60 U S Pipe & Fdry (1) . U S Rubber. ... U S Rubber 18t pf. United Stores (A). 7% Util Pwr & Lt A (2). Vanadium Corp. . Va Elec&Pwr pf (6 71% 20% Vulcan Detin (4).... —_— A = Wabash RR (A).... Waldorf Sys (1%).. Walworth Co. .. Ward Baking pf (7). ‘Warn Bros Pictures. Webster-Eisenihr pf West Pa Elec A (7). West P’a El pf (6) Wes®a El pf (1) West Pa Pwr pf (6). 4 West Pa Pwr pf (7). Western Dairy (B).. Western Maryland. . Western Pacific. Western Union (6 White Sewing Mach. White Sewing Ma pf. Willys-Overland. ... Wright Aeronautical Yellow Truck. 15% Yellow Truck & C pf. 6% Zonite Prod Corp (1) 1,300,000 | payments based on the latest cuarterly or half-yearly sless than 100 shares. Bates— New Add 00. High. Low. Close. Chg 7 5! b4 9 29 11 1 ter Corp (1)’ n (A) F IESERE Sulphur(3) £ 44+ Mfg pf 3.60 'rd A (80¢). rod A cts., Corp...... Corp pf(§) ducts(2%) R Tr pf(7) of Cal (2). r Store; (T6c) pf (3). t (3).. Dye W (1). n Secur Bowp X andee s Alcohol. er.... er (A). y & Imp & Ref (1). Corpn (4) pf (7). ores pf (4) RIR o ros pf 3.85. ros. 11&Sno(2). &Sno pf (4) se A B(2) ouse (2%). M 1st m3% Steel pf3). toray. .. h (2.40). ton Pump.. Wm) (4).. 1108 1 1008 al 10 IGHTS—EXPIRE. &C..Jan15 93 1 Nl cks on New York Exchange. 300,000 12:00 Noon 0 P.M. ven in thé above tabl heet&Tube. 131 % 13% + 4% ™ + % + 4% re the tPartly extra 1Pl in stock s Paid last year—no regular ra ayable in cash or stock. ¢ Plus 8% in lus 50c In special preferred st this year—no regular ra stock. PLEA FOR AVIATION INDUSTRY IS MADE Corporation Head Urges Con- tinued Support by the Government. BY FRANK H. McCONNELL, Associated Press Financial Writer NEW YORK, January 6.—An appeal for continued government support of the American aviation industry was mack here by Thomas A. Morgan, presi- dent of the Curtiss-Wright Corporation. Mr. Morgan said that the industry | had made large forward strides in 1931, | registering &n increase in passenger | transportation in the first nine months, | while rail and steamship travel had de- | creased. Nevertheless, he said, the in- | dustrd continues dependent on liberal | Government support for its future| growth, “Aviation in 1931 has made a brave | showing in the face of heavy odds,” h2 | said. “The industry entered the year | with sales trimmed to meet. conditions | of overexpansion and overproduction, and by hard work has succeeded in making and holding certain advances. | Statistics for the first nine months ir.- | e an increase in air passenger | during_the same period transatlantic | steamships showed a loss of 43 per cent {in westbound traffic and 18 per cent in | Capital asin »cs | Colum eastbound. Railroad passenger declined 11.3 per cent. Airmail gained 132 per cent and air express 212 per cent. “Aside from the efforts of the indus- try, two causes are responsible for these | Capital Traction Co.—10 at 18%5. Anacostia & Pot. Guar. 55 City & Suburban 5s.... | Wash., Alex. | Cap. | Liberty (1) WASHINGTON STOCK EXCHANGE QUOTATIONS AN SALES. Pot. Elec. Cons. 55s—8$1,000 at 100. Wash. Gas 55—$1,000 at 100%, $1,000 | at 100%, $500 at 100%4. AFTER CALL. Wash. Gas 6s A—$100 at 100. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Tel. & Tel. 4!3s '39 Tel. & Tel. ctl. tr. 55 acostia & Pot. R. R. 55 ner, Am C. & P. Telephone of Va. bs Capital Traction R. R. 58 Georgetown. Gas 1st 55 Potomac Elec. Cons, 5% Potomac. Elec, 65 1953.. & Mt Verno Weshington' Gas 4228 = Sshington Gas 53 : | Wash. Gas 6s. series A.L211000 100 10015 Wash. Gas 6. series B... ... | Wasi. Rwy. & Eiec. 4s... .0 T8 | MISCELLANEOUS. | Barber & Ross, Inc., 'us Chevy Chase Ciub 5i28~ Columbia Country Club 5%s W. M. Cold Storage 55 STOCKS. PUBLIC UTILITY. Tel. & Tel. (9) Capital Traction Co. (4) Wash. Gas Lt. Co. (18).. N. & 'W. Steamboat (12) Pot. Elec. Power 87 pfd Pot’ Elec’ Power 5%2% pfd Wash Rwy. & EL com. (T).... Wash. Rwy. & EL pfd. (5)... NATIONAL BANK. Min. price. PR ] 375 183 198 420 190 i00% Ame; . 14 .. (127 (stamped) Commercial District (8) Fed -Amer. Nat. Bk & (10).. Tr. (2) Lincoln (10)... Metropolitan Riges (15) Second Washington (12). Amer. Bec. & Tr. Co. (15).... Natl. ‘Sav. Prince Georges Bk. Union Trust (8s)..... Wash. Loan & Tr. (i4) Bank of Bethesda (64) Com East’ Washington (12) | Botomac §c. Sav Seventh Street (13) | United states (30) Wash. Corcoran Firemen's (8) Columbia_(6h) | Ter. Ret. D DAY’S SALES [N (9ey.. " TRUST COMPANY. & Tr. (121)... & Tr (8. SAVINGS BANK. & Bavings (10). A0)iee: e & Com. Bk. (1) Mechanics (20} FIRE INSURANCE. (12) €10, American National Union (15). ey TITLE INSURANCE. Real Estate (6hj.. Ay ® MISCELLANEOUS. Barber & Ross. Inc.., com... Col. Medical Bidg. Corp. (6) C Sand & Gravel pfd. (1)... D. C. Paper Mig. 'r!g cees Dist. Natl. Sec. pf . Emer. Bromo.-Selz. A" (3} Federal Storage pfd. (8) Fed.-Am. Co. com. (1.201) Fed.-Am. Co. pfd. (6) . Lanston Mofotype (6) Mer. Tr. & Stae. com. (10). Mer. Tr. & Stge. ptd. (T) Mergenthaler Linotype (6). .. Natl. Mtge. & Tnv. pfd. (8). Peoples Drug 8. pfd. (6'2).. Real Est. M. & G. pfd. (8) Security Storage (51 (.. & Wh. Corp. (3). ‘The_Carpel Corp. (2) . W. Mech. Mtge. com. (8) . Wash. Med. Bldg. Corp. (1) Wdwd. & Lathrop com. (1.2¢ Woodward & throp pfd. *Ex dividend. 527 bBuoks Closed. n2sc extra 130c extra. §17- extra. ell2% extra shelter and clothing purchases take 73 BONDS N ADVACE ON ACTV DENAN Foreign Dollar List Is Leader of Vigorous Gain in Market. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, January 6.—Led by foreign dollar descriptions, the bond market today staged its most vigorous rally in some time. Advances of 5 to 8 points were spread through the for- eign list and in domestic descriptions the gains ranged from 2 to 4 points. Trading was moderately heavy. The market opened higher, accom- panying a sharp recovery on the stock market. Both markets reflected fa- vorably the quick action on President Hoover's Reconstruction Finance Cor- poration and the more favorable aspect of foreign affairs. The fact that the negotiations between France and Eng- land on the German situation are now proceeding smoothly and the concerted action by England, France and the United States in the Manchurian crisis were factors that improved sentiment. The early sharp advances in the Ger- man group were based primarily on a rumor, later proved without official foundation, that England and France had reached an agreement on the Ger- man private debt status. But even when this was denied, the market's mo- mentum was such that the gains were extended. German 5'2s and Dawes’ reparations Ts rose more than 4 points to prices 14 and 22 points, respectively, above their bear market low German municipals, such as Berlin 6s, made substantial gains. Berlin City elec- tric 615 were more than 6 points high- er. up 2 to 3 points. German industrials and utilities followed. Rhineland West- phalia Electric bonds were bid up on the declaration of a $1.06 dividend on the company’s American shares. Other foreign bonds shared in the improvement. Rumanian 7s gained more than 2 points on top of the 5% point gain of Tuesday. Vienna 6s, Rome 6!5s, Kreuger & Toll 55 B, Bel- glan 6s and the obligations of Austria, Ttaly, Greece and the smaller European principalities rose 1 to 5 points. Brit- ish 5';s reflected the firmness of ster- ling quotations with a rise of more than a point. Japanese governments gained about a point Australians were higher, notably, Queensland 7s, which gained 3 points. Under the influence of a buoyant market for stocks, bonds were higher throughout the list at the opening. Japanese government 6%;s advanced a point and German government de- scriptions also were about a point higher. German Bank issues improved. French government 7l2s had a small gain. _In the domestic list, railroad obliga- tions were steady to fractionally higher with few actual changes. Southern Rail- way 5s gained about !, point. New York Central 6s were firm. Industrials and utilities were unchanged. United States government bonds were nar- rowly higher. SURVEY SHOWS STOCKS HELD IN HIGH FAVOR A recent survey of the safety records of trust companies and national banks has revealed the fact that never in the history of American banking " has a beneficiary suffered a loss of trusteed property, according to Bernard P. Nimro & Co., inestment dealers, in the Mills Building. An investigation by this firm of the investment policies followed by out- standing modern millionaires indicates that many were not disconcerted by periodic depressions, but that they be- lieved in wide diversification and long- term holding of stocks. The estate of Thomas Fortune Ryan was a little more than $120,000,000, of which about $115,000,000 was in stocks. About $80,000,000 of the Stephan V. Harkness_estate of $107,000,000 was in stocks. Payne Whitney left approxi- mately $180,000,000, of which $159,- 000,000 was in stocks. Almost all of the George F. Baker fortune, $75,000,- 000, was in stocks. INVESTMENT TRUSTS NEW YORK, January 6 (#).—Over- the-counter market. A B C Tr 8hrs ‘D" A B C Tr Shrs 'E Gen ‘Sec “A Gen Sec "B Gen Sec $3 pf & Con 67 pt Comp, Tr Shrs . D Bid. Asked M Fdrs cv pf offs .. Fdrs 1-40 com Ins Stocks Pac Int units Pac com ww & Pac pf war Bankers Na! Inv Bensicilla_Corp Basic _Industry British Type In Central Nat Corp A Century Tr Shrs Central Nat Corp B Chain & Gen Equities Chartered Invest Chartered Inv pf Chelsea Exch A Chelsea Exch B Cumulative Tr Sh Corporate Trust Corporate Trust Corporate_Trust Crum & Foster Crum & Fost 8% pf Crum & Fost Ins Crum & Fost Ins 7 pf Depos Bk shrs N Y .. Deoos Bk 8h N'Y A Btz »5 Bl AA" 5 Accum’ 'Ser Diversified Tr Diversified Tr Equity Invest Equity Invest pf . Equity Trust Shrs Five Year Fixed Tr Pixed Trust Sh A Fixed Trust Sh B German Central Bank issues werz | | ON NEW YORK BONDS STOCK EXCHANGE |‘ Received by Private Wire Dircct to The Star Office UNITED STATES. (Sales are In $1.000.) Low Sal High Lib 314832-47. 107 97 List4%s32-47 49 9 L 4th 434 = 33-38452 U S3s1951-5.. 302 US3ys 49, 91 US3%sM41-3 67 US3%sJ40-3. 14 US3%s43-47.. 1 US3%s46-56.. 38 US4s44-54.,. 281 US4%s47-52. 241 84 85 90 90 90 93 101 Abitibl P&P 55 °53. Adams Exp 4548 AD & St 51 43, Alleghany Cp 58 44 Allegheny 63 '50. . Allis-Chalm Am Chain 6333 Am F P 55 2030 AmIGChG5ls'49. 29 Am Intl 5%s ‘49 Am Metal 5% s34 Am S&R 1st 5347, Am Sug Ref 6337, Am TETcv4%s39 R AmT&T6s . 102 Am T&T c tr 65 46. 66 Am T&T 55 5'60. 168 Am T&T 53%s°43. .. 31 |Am W Wks5s34.. 5 | Am war wks 6s 75 Am Wr Pap 65'47.. Arrentine 515 '62. Argentine May '61. Argentine 63 Ju'59. Argentine 6s Oc'59. Argentine 63 A '57. Arm & Co 4%s'39,, Arm Del 54843, .. Assoc Ofl 65 '35. Atchison adj 48’95, Atchison gn 48’95 Atchiscv 41y '48. At CL st 48’52, Atl Ref ab 58°37. .. Australia 41 = '56. { Australia fs '35, Australia 5367, Austria 78'43..... Austria 78 '57 ctfs. B&O 4543 B&04%s'2 B&Ocviey B&O Ist 6548, B&OTfs'95. B&05s D 2000, B&O 5 26 13 17 Ban & Aroos 4s°51. Bk of Chils 6348 '67 Bk Chile 635 '61 Belgium ¢ 93 Belgium 78 56.... 119 Bell Tel Pa 53 B'48 30 Bell Tell Pa 55 C'60 71 B Ind Loan C6s'46 3 Berlin Cy El 6s'55. 38 Berlin CE 63550, 12 Beth Stl pm 58 '36. Bollvia 7s '58 Bolivia 7s'69. .. Bolivia 8547 Bos & Me 55 '55. Bos &Me 5367 Braz(l 6148 '26., Brazil 614527, Brazil 7s. Brazil 8s°41....... Pk Ed 2n A 55°49., Bklyn Elev 6ls. .. Bklyn Man 6s "6} Rl:iyn Un 58°45 Bklyn Un 1st 5, Budapest ceee Buenos A 6s'61 Pv. BR & Pitt 438 '57. Bush Ter con s '5& Bush T Bldg 65'60.. Calif Packing 5840 Canada 4n ‘60 % Canada 4%« '36. Canada 5552 .. Can Nat 4145 54. {Can Nat 4148 ar-SnBlnanmemnt SamananaRnunnmwRnnoBan anarEanRol AR ROanE——ma s Can Nat 4% s 5, Can Nat 5s July’69, Can Nat 63 Oct '69., Can Nat 6s'70. Can Nor 6348 db Can Nor 7s db 40, . Can Pac db 4x Can Pacific 4% s "¢¢ Can Pac 4%5°60. .. Can Pac 58 ‘54..., Cent 111 G&E 58'51. Cent Pac 45 '49. | Cen Ry NJ £ 55°87. Cert-td db 5%s "48. Ches Corp 55 47... C&Oxen4ts’z, C&O4%sB"95. Chi'& Alt 3s. . CB&Qgen4s'58. CB&Q I1dv 3%s'49 CB&Q T11dv 4849, Chi & Est 111 55'51. . Chi Grt West 4s'59. C M StP&P 5375 CM &St Padj bs. Chi&NW 43%s 2037, Chi & NWen 4% s Chi&NW rf 55 2037 Chi Rwys 5s°27 Chi RI&P gn 4s ‘88, Chi R1& Prf ¢3'34 ChiRI&P 4%s'52 Chi RTcv 43860, C TH&SE tn 5560, Chi T H inc 6s'60. . Chi Un Sta 4%3'63. Chi Un Sta 58 B '63. Chi Un Sta 6%s '63. Chile 680, ... Chile 6s°61. Chile 63 "63........ Chile Cop db 55 '47. Clev Term 4%s°77. Clev Term 5%s *72. Cologne 6% 3 °50. Colomb 63 Jan 61 Colomb 6s'61 Oct. Col G&E 58 May’52 Col G&E cou 63 '61. CCMd 1strf 55'50. ConG NY 4%s'61.. ConGNY5%s'46. Con Pow Japan 7s Consum Pow 53 '52 Cuba 5%s "45. Cuba R R 58 Cuba RR 65 ctf '36. Cuba Nor 5%3'42 Cazecho 8s '51 Del & Hud 5% Denmark § Denmark 6 5 D& R Gren 4s'36.. D& RGr4%s 36, D&RG W 58'65.. ) I 11 97 26 1 Sales, Hish, Low. 3:53 [nt Rap Tr 53 '66. . Int Rap Tr sta ‘66 | 1nt Rap Tr 65 22.. i Int Rap Tr 7832 | Int Cement 58 '48. Int & Gy Nor 58 '56. (nt Hydro El 68 ‘44 Int M Co 5s ret'e1 Int Match 5s"47... Int MM col tr 641 Int Pap 68 A 47. Int Pap 65 '56 Int Ry C A 58'72. . Int T&T4%s 52, Int T&T cv 414339, Int T &T 6855, Italy T8 '51. Italy PubS 7s Japanese 5143 Japanese 6143 ‘4. . Kan C FtS&M 4s ‘36 Kan City S Kan City 8 Kan City Ter 45'60. Karstact 6s'43. ... Kresge Found 65'36 Kreug & Toll 55'59. Lackaw St 55 ‘50 Laclede 5%s D '60. Lac G St L. 63 ‘34 Lautaro Nit 63 '54.. Leh Vcn 4182003, Liz & Myers 58 ‘51, Lig & Myers 7844, Loew’s 6s ex w ‘41 Lerillard 5s '51. Lorillard 7s 44 La & Ark 53'60. Lou G & El 5852, L & N uni 4340, L & N 4%s 2003, Lvons 63 '34. Market St 7 Marseille 68 '34. Mex 4s astd 191045 Midvale Stl 5 '36. . Milan 6148 °52..... Mil E Ry & L 53 '61 Mil E] Ry&Lt 63 ‘71 M StP&SSM cn 4s.. M K & T adj b5 '67 MK&T pr In 55A'63 Mo Pac gn 4s'75. Mo Pac 5s A "65. Mo Pac 5s F 77 Mo Pac 53 G '78. Mo Pac 63 H'30.... Mo Pacrf 5381, Mo Pac5%s A" Mont Pow bs 43 Mont Tr 1st 5s "4 Mor&Co 1st ¢34 #'39, Nat Dairy 634 43 at Steel 58 56. ... Netherlands 6s'72. N Eng T 1st 58 '52. NOT&MG5%s "54. Nw S Wales 58 '57. Nw S Wales 58 '58. YCgn3ls'97.. N Y Cent4s’42.... N Y Cent db 4s'34. N Y Cent 41452013, NYCrfim5s2013 N Y Cent db 6s '35. NYC&StL 4145 '78. NYC&StL5 % 8A'T4. NYC&StL 6s'32 N Y Edisn 6s B" N Y Fd 1st 6554 NY NH&H 3148 '54. NY NH&H 48°56... NY NH&H 4%s5 '67. NYNH&H cd 63°48. NY O&W 1st 48'92.. NY Rys inc NY Tel 4%8°39.... Nia Sh Md 5%3'50. Nord 6%s'50. Nor & Wn ev No Am Co 5s'61. Nor Am Ed 5857 Nor Am Ed 55 C '§9 Nor AmE 5%s'63., Nor O T & L 65 "47., Nor Pac 33 2047.... Ncr Pac 48°97 Nor Pacr16s 2047, Nor St Pw 6s A "(1. Nor St Pw 63 B '4 Norway 5%s365. Norway 68 '52.. Ore Sh L §s gtd *48. Orient dev 68 '53-.. Pac G&E 58 42 Pac T&T 1st 55 '37. Pac T&T rf 65'52.. Pan-Am Pet 65 '34.. Paramount 6s 47 Paris-Ly M 6s ‘58 Paris-Ly M 78 '58 Paris-Or 5%s '68. Penn 413 D 81 Penncy 4%s 60, Penn gn 4345 '85. Penn 4%s '70. Penn 4%s '6: Penn gen 5 Penn §%s * Penn P&L 4% Pere Mar 4% 5 '8 Pere M 1st 58 ' Peru 6560 Phila Co 55 °67. Phila Elec 45'71.. .. Phil & Read 65’49 P C C&StL 5s A '70. P& WV 4%sC60. Poland 7s '47. Poland 8550, Port Gn El 416560, Pos Tel & C 55'53. . Prussia 6s 52 Public Serv 48 71 PubSv G 4%a’67 PubSv G 434570 Pure Ofl 5% °37. Queenslana 7 *41 Reaa gn 4% s A '97. Reading 4% s B'97. Rem Arms 6s A '37. {Rem R534s A *47., Rhinelbe 7s "4§ Rnine West 65 2:55 97 99 1 99 6 83 30 8431 89 24 90 12 90 16 93 8 97 16 101 96 A 98 30 99 4 83 20 8417 89 24 90 90 16 948 97 10 0023 Rhine West 78 '50. . Rio de Jan 6%s '53. Rio de Jan 8s ‘46 R Gr Do Sul 6s Rome 6% 3 '52. Roy D 4845 ww StL IM R&G 45'33.. St L&SF in 43 A 80 StL&SF 4%s'78. StL&SF p 1 53 B '§0 StS Wends'32.. San A & A P 45’43 Sao Fau 7s'40 ret. . axon P W 6%8'51. Saxon 7s45. . Seab A L rf 45'69.. Serbs-Cr-S17s°63. Serbs-Cr-Sl 8s Shell Un Of1 5847, Sales. Hieh Low 253 13 4 57 35 4 13 7 8 62 10 1 7 35 4 13 20 11 20 15 10 22 4 1 1 16 85 15 2 11 10 ‘6 43 14 13 1 5 5 29 65 8 4 30 13 13 13 1 5 10 42 4213 281 59 6214 42 CHINESE COTTON PURCHASES LARGE 'Heavy Buying of Cotton in (RS Reported During Last Year. Despite its internal troubles China was one of the brightest spots on the United States' foreign trade map dur- Ing the past year, the Commerce De- partment announced today. Notwithstanding the many revolutions and its conflict with Japan in Ma; churia, China took more United States raw cotton during 1931 than during any year in the history of Chinese- American trade, commercial attache Julean Arnold at Shanghai, today ad- vised the department. Records available at the department for the year, exclusive of December, show that the strife-torn republic pur- chased 682,000 cotton bales, an increase of 135 per cent over 1930, when only 290,000 bales were shipped to Shanghai and other Chinese ports. It is believed here that little of this raw material was used for munition purposes, but the greater part of the large shipment formed a part of China's great textile expansion plan. Exclusive of December, the United States export trade with the Far East republic, acording to figures made pub- lic today by the department, amount~ ed to $84,175,185 during 1931, as com- pared with $82,361,106 for the first 11 months of 1930. During November this country’s exports to China amount- ed to $14,745,409, an increase of $6,786,- 600 for the same month in 1930. The department records show that the November, 1931, exports were $2,- 212,409 more than the total United States trade with that country during the whole year of 1900. During the same period China in- creased her exports to the United States from $10,924,000 in 1900, to $63,264,- 861 in 1931. Arnold cabled today that the outlook continues promising for the present year. He reported Shanghal, at the close of the year, presents but little evidence of business depression. Since recession of flood waters, much improvement in general trade is also evident in the mid-Yangtze Valley region. The commercial attache said the Manchurian trading situation is un- changed, and trading conditions in South China was described as quiet. Several large orders for American cot- ton yarn were placed in this section, replacing yarn formerly supplied through Japanese sources. Arnold said there was also a brisk demand for potatoes and onions from the Pacific Coast and many inquiries for imitation leather, toys and kitchen utensils. DIVIDENDS DECLARED NEW YORK, January 6 (#).— Extra. Pe- Pay- Hldrs.of Rate. riod. able. ~ record. Discount ‘Cor (NY).5i .. Jan. 2 Dec.3i First Trust & Sav - Bk (Pasadena)...75¢ .. Jan. 1 Dec.31 Resumed. *Oliver Un Pilt A..50c Final. Westminster Bk Ltd (g4 par) ... 9% Do (21 par) . 8% Reduced. Nicholosn Life......30c Q Jan. Omitted. Company. Jan.15 Jan. 8 2 Dec.31 Company. Associated Dry_Goods. ......25¢ ist Nat Bk & Tr (Yonkers).lsc Regular. Pe- Company. Rate. riod. Am Lt & 'Trac...62%c Amer Smelt & Ref andSpivici. el Assoc Dry ‘Goods TTEL T Do 2nd 'pi.. Baker (JT) Chem..Tiac Boots Pure Drug Ltd (Am dep rcts for ord reg) .. . Borden Co ...... 75¢ Broad Riv Pw pf.§1.75 Brown Shoe Dpf.. 3175 Cluett Peab & Co..50c Colgate-Palmolive Peet pt .......3150 Discnt_Cor 'N_'¥.32.50 Pelin J 3 & Co Inc. 38 D 3175 First Natl Bank (Hempstd N 'Y)..25¢ Fd Ma Cp 6'3% pf.50c Intl Ocean Teleg.$1.50 Maritime Tel & T, d0c 0" 1% pf.....i1%c Masbach Hardware 1t pt vnea 7SLB0) ond &' s 41 000 D pi PG GONS Bt Mass Melvitle ‘Shoe L Do 2na e M2t Merch ‘N B’ Mobile. 750 Nt B Olney (Phil) . loe Nat Cent Bk (Bali). 34 NW Fire & M Ins. 50c Onomes, Sugar . 20¢ ac Fin Corp o Den pt A", o Bl s Tr (Fitigi | scolt Pu 7% Bi A 39S Do 6% _pf B... $150 St e, 5 10 ¥ es Allied. . Solvay Amer id L3137 Inc pf ... sorinafeld” ity Way t 3175 Trayior #ng &3 LR s $2 November 1. 1gap. ° © tName changed Allied Corporation. BETTER COTTON INQUIRY ABROAD IS REPORTED By the Associated Press, NEW YORK, Jinuary 6. spinvers in Europe and tl};e Ol:s(r:l?tt\ol': showing a disposition to increase their takings of the American staple, the New York Cotton Exchange Service reports, This is due to the fact that American cotton is selling much below the average of past relationships with Indian cot- ton. The price of .fine Oomra Indian 1 DOOOO DOORO OWOP POOL: : DOOOLOO Rna Bemmbren 8 Jan. Jan. e Jan. 2 Dec: 31 overs payment due o0 00 0 from Chatham-Phenix cotton is now equal to 91.5 per cent of the price of middling American, com- pared with 70.6 per cent a year ago. Fund Tr Shrs A Fund Tr Shrs B Granger Trade 5 Gude Winmull Trad.. Incorp Investors Shell Un Ol1 53°49. 13 Shinyetsu 6%s ‘52 Sinclair O1l 6%s'38 SincO 7scv A '37.. DRG & Ws'T2 Det Edison rf Deutsche Bk 6 '32. Dodge Br cl 6340 results—intelligent government aid and | an increasing knowledge and confidence good | on the part of the public as to the eco- 3.75 | nomic benefits of fiying . In spite. ot | per cent of all money spent for living expenses, it will be realized that the present level of buying can hardly be curtailed further—any change in buy- to fair, 3.25a3.50; common to plain, 3.00a Co to choice, FACING FACTS HELD BEST SIGN FOR 1932 Choice to prime, none none; medium to good Incorp Invest Equit to medium, 3.25 3.25a3 common a 4.00: fa to fair, 1.50a2.50. Heifers- to chot 4.50a5.00 to to rone; good | good 4.0024.50; | n to ice to prime 5.00a6.00; me o mediu 3.00a4.00 ers, 30 00a60.00. | 200 head pply: ma lambs s—Receipts, 600 head: light sup- market steady: lights, 5.00a5.30; 4.40a4.90;, medium 524.00; light pigs, 5.0025.2 ly; heavies, light, sup- 3.5029.50 and Grain Prices. winter, export, no ‘Winter, garlicky January, 59%; 5 head Hay Wheat quotations; No. spot Febr 6114 Corn—No. 2 red 2 red yellow, domestic, spot, 44a45; cob corn, new, 2.00a2.10. Oats—No. 2 whit domestic, 35a35'%: No. 3, 34a34'5. Rye—Nearby, 40a45 Hay—Receipts, none. New hay is starting to arrive in increasing quan- tities, but s0 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, 8.509.00 per ton; No. 1, oat, 9.00a10.00 per ton. spot, PARIS BOURSE PRICES. | as compared . with an 8 per cent reduc- these encouraging gains the time has | yet -arived when the industry can | vive without liberal Government sup- port { The nroposed. budget submitted to | Congress recommends & cut of 20 per | cent in- Air Corps appropriations and reductions of 24 per cent for the pro- curement of new airplanes and motors, ion in the entire War Department. Also a cut of 15 per cent in the Bureau of Aeronautics and 46 per cent reduction in the procurement of naval planes and as compared with a 5 per cent for the entire Navy Depart- ment. The United States ranks fourth in the number of its fighting planes, | being surpassed by France, Great Britain and Italy In view of our national wealth and | { our comparative ranking with other | nations, such a policy at this time would appear short-zightcd und even danger- | ous. The present Congress s {aced With many trying problems, and not the least of them is the establishment of an in- telligent and sympathetic policy for the further fostering of aviation. . “Such assistance on the part of the Government is amply justified as an aid to, the prosperity of the country, and is & necessary adjunct to our national de- e CHECK TOTAL DROPS. By the Associated Press. Checks ceshed on individaal - bank accounts during the week ended De- cember 30 were 12 per cent less than for the previous week. The period in- cluded but five business days. In the PARIS, January 6 cent rentes, 78 francs 80 centimes. Five per cent loan, 101 francs 10 cen-| periods, based on returns to the Federal times. " eentirge: 467 centimesy (#).—Three per Exchange on London, 85 francs 62}z Week ended December 30 $7,325,307,000 The dollar was gqueted st Previous week....‘\.:._.. figures that follow the total debits for .| 265 centers are given for comparable Reserve Board: . | Thrift and Financial Senity De.f clared Encouraging for Com- ing Year. Special Dispatch to The Star. MIINEAPOLIS, January 6.—Little concrete evidence of improvement in underlying conditions is visible today, according to John R. Ridgway, presi- dent of Investors’ Syndicate, in his an- nual message. The really hopeful signs, according to Mr. Ridgway, are the tendency of business to face facts and adjust itself to them, while the remarkable develop- ment of thrift and careful personal management on the part of the indi- | vidual citizen establishes a sound basis for ultimate improvement. “During any boom, people live be- yond their means,” said Mr. Ridgway, which is reflected in falling savings totals. In the ensuing depression debts are first paid off, then savings begin to accumulate. Reserve buying power builds up while people still lack the -confidence to go out and buy. “Today the individual seeks safety for his funds with a modest interest re- turn, and stretches his income to the limit through careful buying, instead {of, as formerly, seeking large specula- | tive profits for the purpose of reckless | overspendinrg. | “Business itself is generally on a rockbottom inventory basis. Hand-to- | mouth buying has been carried to the | extreme. Business houses have shrewd- ly cut expenses and trimmed sails; many are making steady progress on 9,400,083,000 2,710,658, Bame week st the present bare necessity purchasing basis, and showing a profit, “When it is considered dhat Sood, | along the road to complete recovery by ing volume must aimost certainly be upward. “Were it not for the foreign situa- tion we would undoubtedly be well now “The outlook abroad remains highly discouraging, however, with little hope of early improvement. We on this side of the Atlantic will have to work our own way out. “This is not an easy task, but it can be done—in fact, 1t is alfeady being lone.” SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co.) Allis Chalmers 5s 1937...... B o American Chain 6s 1933 91 Amer. Tel. & Tel 3%:s 1943 Amer. Wat. WXs. & EI Baliinore & Ohio 4125 1933 Belding Hemingway Co. 65 1936 Bethiehem Steel Corp. 6s 1936 Canadian Nor. Rwy. 4125 1935, Chicago Northwestern 55 1933.. Chicago Rock Island 4s 1934 . Cleve. Lor. & Wheeling 55 1933 Colorado & Southern 4123 1935 Commercial Credit Co. 5135 1935 Delaware & Hudson Co. 35 1935 Denver & Rio Grande 4las 1936 Gen. Mot. Accep. Corp. € 1337 General Petroleum Cofb, 8s 1040 General Public Service 5325 1939 Grand Trunk of Canada 6s 1936 Houston E. & W. Texas 55 1933 Humble Ofl §%as 1932......... 1934 537 Laclede Gas Light Co. Louisville & Nashville 55 1 New York Cent. & H. 4s 193¢ Northwestern Trlep. 4125 1034, Penna. R R. 6':5 1936 Portland General Elec Republic Iron & Steel 55 1940 Sinclair Crude Oil 5'3s 1938 Southern Pacific 5s 1934 St. L. L M. 8. R & G Union Eiec. Lt. & Pow. Union Oil Co of Calif. 85 Virginia Rwy. & Power 55 Wabash Rwy. 55 1939..... . “Baby” cars were a feature of the 1931 automobile show held at. »Wm‘l. 4 55 1933 1933 1935 1934 Independ Tr Shrs Int Sec Corp Am A . Int Sec Corp Am B Int Sec Am 6 pf Int See Am nifl Inv Tr N Y Coll “A Invest Trustee Sh Leaders of Indust Leaders of Indust Leaders of Tndust Low Priced Shrs Major Corp Shrs . Mass Invest Tr Mutual Inv Tr A Mutual Manage Nation Wide Sec Natl Indust Shrs Natl Tr Shrs _. N. Y. Bk _Tr_Shi Nor Am Tr Shrs Nor Am Tr Sh 1 Nor Am Tr Sh 1956 Northern Secur ... Oil Shares units Old Col Inv Tr ... Old Col Tr Assoc Petrol Trad A Publc Serv Tr Repres Tr Shrs Second Int Sec A Second Int Sec B seree Sec Int Sec 6% 1st Pf ... Secur Corp Gen §6 pf Selected Am Sh - Select Cumulative Shrs 8elected Income Sh Selected Manage Trust Shawmut_Bank _... Spencer Trask Fund Stand All Am Tr Stand Am Tr Shrs..... Stand Collat Trust. State Stret Invest. Super of Am Tr A. Super of Am Tr B Super of Am Tr C Super of Am Tr D. Trust Shrs of Am Trustee Stand Inv Trustee Stand Inv Trustee St Ol _A Trustee St Oil Shrs B Trusteed N ¥ C Bank Trusteed Am Bk Sh Tr Am Bk A G Twentleth Cent Fixed Tr.... Two-Year Trust Sh......- United Fixed Shrs Unit Fdrs 1-70th Com United Ins Shrs. . United Bank Tr U 8 & Brit Int Ltd A, U 8 & Brit Int $3 pf : versal Tr Bb..eess: A B c S5 W o foscn s a0 ! SRyt Bat s ot [ D Duquesne 43% s '67. Dutch East I 6%°52. East C Sug 7% s '37 Erle conv 43 B Fiat 7s war. Finland 5 Finland 6s ‘4 Finland 6%s ‘56 Fisk Rub 8 Fram I D 7%s 43 French 7549 French T%s Gelsenk’hen Gen Motors Gen P Sv5%8°39.. Gen St Cas 5%8'49. Gen Th Eq 63°40. German 5%s 65 German Bk 63'38.. 37 Ger Cen Bk 63’60 J 18 Ger Cen Bk 6560 O 28 German 7Tsrep '49. 185 German Bank 7850 9 Ger Gen El 78'46..; 1 Goodrich cv 68 °45 8 Goodyr Rub 68’67.. 20 GrandTr sf @b 6536 14 Grand Trunk 7840, 9 Grt Nor4%s'76 D. 2 Grt Nor 4%s 77 E.. 20 Grt Nor gn s '36. Greek 65°68. Hait] 6s°'53 Hud & M adj 65’67, 16 Hud & M rf 55'57.. 10 Humble O11 65 '37.. 6 Humble O 6%8°'32. 14 Hungary 7%s '44.. 1 111 Bell Tell 5556 111 Cent 4» ‘53 111 Cent rf & I11Cent 4% "66.... 23 Il CCStLAN 55 A.. 1 Iniand St4%s B'S1, 2 BSweiidinidinn. & 1 2 1 00 42y 9 100% 100 47 42 38 42 13 Sinc Cr 0 5%s'38.. Sinc P L 68 42..... Skelly Oil 5%s '39. Soissons 63 ‘36 Solvay Am 5s 42 { Sou Bell T&T b5 "41 SW Bell T 53 A '54. Sou Pac col 45'49.. Sou Pac ref 55.. Sou Pac 4% SouP 4%s’69 ww. Sou P&Or 4% 17, Sou Ry 58'94...... Sou Ry 6s '56. StOIIN J 58°46. StOIINY 4%s'61.. Sweden 5%s '54.... Taiwan E P 5% 71 Tenn EI P 63 A '47. Tex & Ark 5%48'50. Texas Corp 5 '44.. | Tex&P 1st 55 2000.. Tex & P 6sC'79. Tex & P 5s D '80. Third Av adj 58 Toho El Pw 6833, Toho El Pw 75 '55.. Tokio 5%s "1 3 Tokio Kl Lt 65 °'53.. .3 10 18 1 15 2 1 Sou Pac 4%s'81... 32 3 Sou Ry gn 48 '56... 23 15 9 1 1 5 5 1 2 2 7 4 2 Third Av rf 4s'60.. 12 . 16 3 2 4 6 Un Pac 1st 48°47.., 11 Un Pac 45’68 Un Pac rf 45 2003 Unit Drg cv 68 '58.. 1 Utd King 5%s '37 U'S Rub 18t 53 '47.. Un St W 6%8 A'4T, Ud St W 6%sA'51.. Ud St W 5%sC'51.. Unit S Cop 6337, Uruguay 65 '60. Uruguay 65 '64. Util Pw 53’59 ww.. 62 55 82 9 99 993 4y 42 42 d J3! 124 21 10 Utll Pow 5%8°47.. 12 ‘.72 3 fi yflum Sp5sel. : : 81 100% 89 811 56 95 65 T4 89 62 63 445 30% 95 5914 59 48% 91% T2% 1% 49% 28 27 29% 79 2434 creamery, scere), extra firsts _ (25-£9 (86-87 score), (90-91 score), 3524, steady; fresh graded firsts, 2215 Irigerator extras, 18. value. London, pound 34.8665 Paris. franc, ruscels, bel Beriin, “mark. 3 Rome.” lira Zurich, * franc Athens, drachma. .. Madrid, peseta Vienna, schilling. Budapest. pengo .. Prague. crown (nom.) i zloty. Copenhagen, Oslo. crown. score), i 23a231;; 21a22';; standard: score centralized carlots), magn 3.91%c 25. CHICAGO DAIRY M:RKET. January 6 (#).—Butter, specials it extras (92 score), 2515; 24a24'5; seconds (93 Eggs, extra firsts, 23a23%; current ree FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gold Selling checks celpts, 20; refrigerator firsts, 16; re- today. $3.36 3.92 1 Yec Sales. High. Va Ry &Pwbs'34.. 20 Warn Br Pic | warsaw 73 '58.. . West El db 55 '44.. West Md 534877, West Pac 53 48 West Unfon 5a Un6%a'3s,. WEOGB%S8'37T ww. Wi1l-O 1st 6% °33 Wis Cent gen 4s°36 Low. 97 2% 12 25 32v% 96 4915 29 0% 68% 86 2:55. 97 2% 12 25 33 96 4914 40 0% 6975 87 964 87 26