Evening Star Newspaper, January 9, 1932, Page 14

FINANCIAL NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. VEGETABLE PRIGES - N UPWARD TREND Markets Respond to Curtail- ment in Shipments of Various Lines. Prices of many vegetables have shown ’n upward trend since the first of the ar, says the United States Depart- ent of Agriculture, Bureau of Ag- cultural Economics, Market News Bervice. Moderate advances occurred jon 8 of the 10 leading kinds. Ship- ments have been light. for.some time E!l and the markets were in position respond to more confident buying otatoes advanced -5- to- 10 -eents per 100 pounds at numerous shipping points from Maine to Michigan. ~Most price rhanges were upward in producing sec- tions and many markets. -Sweet po- Katoes shared the rising trend to some extent Onions and cabbage continued - the | wpward swing of the month before. Carrots are a littde- higher in North- ern and Southern producing districts. "The celery market is a matter of qual- ity this season, but desirable stock ad- vanced in & few markets. Lettuce is slightly lower in Far Western produc- ing sections. Apple markets are irregu- lar, as for some time past. The South- ern Stayman and Northern Greening and Baldwin made some price gains. Car-lot shipments of most lines of Mresh produce continue light, even for the time of year, but potato movement shows some increase since the rising price tendency began. Potato Markets Gain. The potato market has shown & gen- erally advancing tendency during the first part of January. Advances did mot occur in all producing sections {nor in all of the large markets, but here were numerous upturns of Sc to 5c per 100 pounds, mostly in Eastern nd Midwestern sections, although sev- ral Far Western shipping points re- fported firm price conditions. The de- Tand recently has been fairly en- couraging at Eastern shipping points. Prices in Central. .and. . Western . New York showed an upward trend around 70c per 100 pounds, although wagon- Joad price to growers continued at 25¢ to 30c per bushel in bulk. The haulings vere rather light. . " Market for Maine potatoes has shown a better tone Actual price advance has been rather moderate, but volume of sales increased. - -Carlot price ad- vanced to above 50 cents per 100 pounds, a gain of about 10 cents from recent low points. Roads have been biocked by weather conditions for short periods and haulings were reduced for that resson, but Maine carlot shipments have held up better than the move- ment from most other States. The Association of Potato Growers was at- tempting to establish & price about 10 cents above prevailing level by means of refusal by members to sell for less than the stated price. Prices and mar- Ket conditions in Middle Western pro- ducing sections were much like those in the East, and firmness prevailed at most Far Western potato shipping ints. Pe8ity markets mostly reported moder- | ate supplies, but receipts were limited &t Boston, despite average of several carloads per day from Canada. The Canadian receipts, being of selected grade and quality, sell considerably higher than the general run of stock, Teaching recent top of $1.65 per 90- pound sack. Jobbing sales of Maine Green Mountains are quoted in Eastern markets at 90 cents to $1.25 per 100 pounds. New York and Pennsylvania potatoes Tange 85 cents to $1. Chicago Ppotato markets show a firm trend, with Tecent top of 90 cents by the carload Bales of potatoes for future delivery fhow small price gains fully holding the advances made early in the month. Prices of sweet potatoes show a few gains, but the trend is somewhat ir- regular. Sweet potatoes are in mod- erate to liberal supply in city markets and demand is slow. Prices showed a slight disposition to advance at some High —1931— (Continued From Page 13.) Bales— Add 00. High Low. Close Chge 1 Stock and Low Dividend Rate. 1% Pressed Steel Car. . 5% Pressed Steel Car pf. 86Y% Proct & Gamt /2.40) 1 Pro& Refiners. . 4914 Public Sve NJ(3.40). 78 Public Sve NJ pf (5) 92 Public Sve NJ pf () 15% Pullman Corp (3) 3% Pure Oil. 10% Purity B: 54 Radio Corp. . Radio Corp pf A 3%. 95 THE EVENING STAR, WASHINGTON, Net. 17 1% ™ 7 4 1% 54 78% 97U 18t an 128% Tk 284% 11% 49% 45% Stock and Bales— 5 Dividend Rate 214 Tide Water Asso Ofl. 2015 Tide Water As pf(§) 16% Timken Roller B(2). 1% Tobacco Products. .. 6 Tobacco Prod A t95¢ 2 Transamerica Corp.. 2 Tri-Contl Corp. . 861 Tri-Contl Corp pf(6) 24 _Trico Products(2%) 13% Underwood-Ell-F (3) 274 Union Carb & (2.60). 11 Un Oil of Calf(1.40) 70'% Union Pacific (10).. 97 Unit Alreraft....... 40 Unit Afrcraft pf (3). 27 21% 3 Add 00. High. Low. Close. Chue. 9 3% 3 3 - 27 22% 3 Wet. AL+ FE REEELET S 14 = + Radio Corppf (B)... Radio-Keith-O(new) Real Silk Hosfery Reis (R) & Co 1st pf. Remington-Kand. .., Reo Motor Car(40¢). Republic 8 Republic Steel pf. Reynolds Met (134). Reynolds Tob A (3). Reynolds Tob B (1)., Richfield Of1 . Rio Grande Of] 5% Ritter Dent Mfg..... 3% Rossia Insof Amer.. 13 Royal Dutch of NY 555 Safeway Stores (5). 71 Safeway Strs pf (1). Joseph Lead (60¢) Stl-San Francisco. . StL-San Fran pf. Schulte Retai] St Seaboard Air Line. .. Seaboard Air Line pf Seaboard Ofl...,.... Sears Roebuck (2%). Servel INC.....vvers Sharp & Dohme Shattuck (F G) (1).. Shell Union Ofl. . Shell Union Ofl pf. Shubert Theater. Simmons Co. Stmms Petroleum. Sinclair Consol Oil Skelly Oil Skelly O1l of ww Snider Packing pf... Socony-Vacuum (1). South Port Rico Sug Southn Cal 4 (2)... Southern Pacific (4). Southern Railway... Southern Railway pt So Ry M & O ctfs (4) Spald (AG)1st pf(7). Sparks-Withington. . Stand Brands (1.20). Stand Comcl Tobacco Stand Gas&El (3%). Stand Gas&El pf (4) Stand Ofl of Cal(2%) Stand O1l Exp pf (5). Stand Ol NJ (13)... Sterling Secur (A) Sterling Secur cv pf. Stewart Warner. Stone & Webster. Studebaker Co(1.20) Sun O1l pf (6) Superheater Corp(1) uperior Steel 11% Telautograph (1.40). 97 Texas Corp (2)..... 195 Tex Guif Sulphur(3) 4% Tex Pacific Land Tr. 5% The Fair...... 8 1t Chermoid Co. 515 Third Avenus. 6% Thompson Prod 1 20. s Thompson Starrett 2% 1% 6 17 2% 4 84 2 69 32y % 1% 174 Unit Fru! 20% U S Indu 3 10” U 8 Pipa U S Real USS U S Steel 7% _Util Pwr % Vadasco Vadsco S: Waldorf Walwort SEEe wvE ssnfrs West Pa Western Western Western Western Western H+4+1 001 +++1 [oPS White Se White Se Wilcox Of Willys-O Wilson & 18 Unit Biscuit (2). 614 Dnit Carbon 114 Unit Cigar 8 715 Unit Corp (76¢) 26% Uit Corp pf (3).... 83% Unit Dyewood pf (7) 15% Unit Gas&Im (1. 1% U S Leather... U S Leather (A). of (1). 36 USSmtg&Ref pf 3% United Stores pf (4) 804 Univ Leaf Tob pf(8). Vanadium Corp. Va Elec&Pwr pf (6 20% Vulcan Detin (4). Wabash E R Wabash R R Ward Baking (B) Wwarn Bros Plctur Warner Bros pf 3.85. Warren Eros. ...... Warren Bros cv pf 3. Wesson Ol1&Sno(2) . Wesson O&8no pf (4) Westinghse A B(2).. Westinghouse (2%). Wsthse E&M 15t 3% White Motors e White Rock (4). 20 +htl R 1t (3). ) s Alcohol. FLULL+ +1 FREEL & Fdry (1). ty & Imp. . Corpa (4). of (7).. sSssFesss L EI+0 &LtA(2). Sales Corp. ales pf. + o+ Sys (1%).. h Co... . ++ i FF EEEFRSE 44 I ++ Pwr pf (7). Dairy (A) Dairy (B). Maryland. . Pacific pf. Union (6).. T +L+| FEFE FEF ¥ - + wing Mach. wing Ma pf. il & Ga verland.... Coi(A) oo Woolworth (2.40)... Worthington Pump Wrigley 3 (Wm) (4).. Yellow Truck. % Zenith Hadio. . 6% Zonite Prod Corp (1) RIGHTS—EXPIRE. a~ Dividend rates as oayments based on the | XEx-divicend 4% in stock {P) % | b Payable :n stoci % | BPlus 2% in stock. | | 3% in ‘stock. _m Paid % | stock. 1 D Plus 3%% in % Peop G L&C..Jan15 11 1% 1% 1% + % iven 1n the above table are the annual eash atest cuarterly or half-yearly declarations. 00 _shares. tPartly extia :Plus & Paid (ast year—no regular rate arable in cash or siock ¢ Plus 8% in stock Flus 50c 1n speclal preterred atock © Kk Plus this year—no refular rate.” nPlus 8% o stoc) Returning BY WILLIAM A, REID, Forelgn Trade Adviser Pan-American Union. Politically and economically, the Latin American republics have been, like other nations, passing through a difficult period. But, considering the number of nations and the seriousness of their individual problems, the open- ing of another year finds much lost LATIN AMERICAN REPUBLICS SHOW SIGNS OF TRADE GAINS| Expert Observer Says people HaVE Learnecl Economy—Sees Evidences Of Confldence. the time-honored custom of having | both a chauffeur and a footman attend | | the cars of well-to-do people has, in I many cases, been discontinued. One | | man’ now -suffices | | "In Cali, Colombia, we have an fllus- | tration of the long-time use of which the people are putting motor cars. After | |a machine has run its allotted miles, | | when chassis and body have reached ing the 20 Latin American republics and various insular possessions, we find that, roughly speaking, nearly half a million Europeans were arriving yearly on the shores of Latin American coun- tries. Argentina received the major portion of this current or some eight gr nine hundred immigrants a day; nd these were systematically placed about the nation and not allowed to settle in congested districts of the larger cities. Today, or during 1931, the movement of emigrants to Latin America is just the reverse of the,current prior to 1914. None of the republics has received im- migrants in large numbers; to the con- trary, the coming of people of immi- grant classes has been discouraged. Each Latin American nation has had its unemployed, hundreds of thousands, as the case may be, and it has been necessary to cope with this problem. The temporary restriction of immi- gration, therefore, seems to have been a wise move—it has reduced unemploy- ment the lowest figures possible. But these restrictions, it must be re- | Anacostia & Pot. Guar. 85 . | the worthless stage, Colombian me- | membered, apply to the present de- D. (., SATURDAY, JARY 9, 1932. RAIL BONDS LEAD IN STRONG MARKET Junior Carrier Issues Provide Feature at Week End Session. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, January 9.—In spite of the large advances in bonds this week and some reaction in German issues, there was enough vitality remaining in the investment market to push up prices of railroad issues today from 1 to 4 points. It was a remarkable ex- hibit of changed sentiment, for it was difficult to buy many issues that had been almost impossible to sell during December. ‘1'1'1"eTI largest advances occurred in the groups of junior rail bonds which tech- nieally are no longer legal for savings bank investment. Baltimore & Ohio refunding 6s rose 4 points and showed a gain of 23 points from the low of last month, when they touched 55. Chicago & Northwestern refunding 5s advanced 2!, points, Nickel Plate 5'%s the same and Nickel Plate 6s, 1!, points. Missouri Pacific 414s were up % to a full point, while Prisco 5%s gained 1%, points. In the higher grade rails there were advances of nearly a point in Northern Pacific prior lien 4s and gains of & each in Atchison General 4s and Canadian Pacific debuture 4s. New York traction company bonds attracted some attention owing to the possibility of an increase in fares under an ad- justment necessary between the city and pankers for the subway lines, Scattered through the list were frac- tional gains In secondary grades of public utilities and in industrial bonds from which pressure has recently been lifted. The heaviness of United States Gov- ernment obligations was one of the un- favorable features, representing steady liquidation by holders who believe that further Treasury financing will be at such & rate as to affect even the pres- ent low prices for these obligations. The Liberty 3'2s declined %3 to 96, the Fourth 4%s sold below 99 and then rallied and the Treasury 4'4s touched par. Some improvement in these issues occurred midway in the session but later it was followed by further sell- ing at the lowest prices of the day. The Treasury 3s dropped 2. Reports that Germany would insist on relense from reparations payments checkea the advance that has been under way for several days in German government issues. The 5!;s and Ts each lost 2 points. In contrast was the strength in German provincial and municipal issues, and in some of the obligations of German corporations. Prench and Belgian bonds were defi- nitely strong. The January 1 value of bond issues listed on the New York Stock Exchange shows a reduction from that of Novem- ber 1 of $3.854,000,000. The average price of railroad bonds in the two months declined about 10 points. Washin;ton—stock E);change SALES. Washington Rwy. & Elec. pfd.—3 at 87. Washington Gas 6s “A"—$1,000 at 100; $1,000 at 100 Capital Traction Co.—$1,000 at 59. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Bid Asked 39 105% (3 101 5., 38 8 Amer._ Tel. Am. Tel & Anacostia & Pot. & Tel. 4las Tel. ctl. tr. R. R. C. & P. Tel. of Va. 5s..... Capital Traction R. R. 85...... City & Suburban 58 s Georgetown Gas 1st 55 Potomac Elec. Cons. 6% . FPotomac Elec 6s 1353 1 10! w Alex. & Mt Verrion' cif n 125 i Gas w Gas os. Wask. Gas 6s, Wash. Rwy s series A serfes B & Elec. 4s MISCYLLANEOUS. Barber & Ross. Ine. 6! Chevy Chase Cigb Bizs FINANC I ON NEW' YORK BONDS STOCK EXCHANGE I Received by Private Wire Direct te The Star Office UNITED STATES. (Sales are in $1.000.) Sales. Hign Low. Closs. Lib33%s32-47.. 26 969 9528 96 L1st4%4832-47134 98 29 L 4th 4%233-381358 99 3 113 83 24 531 R4 24 %sM41-3 42 89 16 %sJ40-3. 36 2 %8 46-56.. 30 98 31 8316 9824 8311 848 898 100 8 Sales. High Abitibl P&P 58’63 14 31% Alleghany Cp 58 '44 17 Allegheny 58 '50. Am Beet Sug 6535 Am Chain 65’33 9931 Low 3013 35% 21 Am Wat Wks Arpentine 5148 '62. Argentine May '61. 25 Argentine 6s Ju' 12 7 Argentine 6s B '58. Arm & Co 4% 39 Arm Del 5% 43. Atchis 45 1905-55 Atchison gn 4 Atchiscy 4% 848 AtICLecl4s'52.... AtICL 1st 48’62, At Gulf 55’59 At] Ref db 58 37. Australia 434 '66. . Australia 63 '57.... Austria Ts'43.. B&O4s"43. Beiglum %84 Belgium 78’66 Belgium 7s '56..... Bell Tel Pa bu B 48 Bell Tall Pa b5 C'60 B Ind Loan C 6546 Berlin Cy El 68 '55. Beth Stl pm 58 38. Beth Stl rf 538 ‘43, Bordeaux 6s°34. .. Bost & Me 4% 5 '61. Bos & Me 58 '55. Bos &Me 55 '67. Brazil 6145 26 Brazil 6348 27 Brazil 7s Brazil Bk Ed gn A Bklyn Elev 6% Bklyn Man 6s 6 RKiyn Un 634§ Bud: it ‘62, Buenos A 6561 Pv. Buft Gen El 4 %#'31 BR& Pitt 4%s 57 Bush Ter con 53 ‘56 Canada 4s°60..... @ © o { Can Nor 78 db 40 Canada 414836 Canada 58 '52. . Can Nat 4%s 64 Can Nat 438 57. Can Nat 4% " Can Nat 5570 Can Nat 63 Oc Can Nor 6% s db *4 Can Pac db ¢s. Can Pac 55 44 Can Pac 55 '54 Car Clin & O 6 Cent 'l GRE 58'51. Cent Pac 5s '60 Ches Corp §s 47 C&O gen 4%s'92. C&O4%sB ... Chi & Alt 3s.. 5 CB&Q1strf5s'71. 1 Chi& Est 1116851, 3 Chi Grt West 45'59. 27 Chi M&StP 4%sE. 1 C M StP&P 55 °'75.. 146 CM&StPadjbs. Chi&NW 4%s2037. C&NW 4%s C 2037. Chi & NW cn 4%s Chi&NW rf 5s 2037 Chi R1& P rf 4s 34 mroaRnnnne=S0E mSormn B nanuianwwnn o e 373 3 35 9822 9825 Ba! Japanese $3%4s'5é.. 23 Jugosl Bnk 7857, 5 Kan City Sou 58’50, Kan City Ter ¢5'60. Kend 5% s 48 ww.. Kresge Found §5'38 Kreug & Toll 53'59. LacGStLés34... Laclede 5% C53.. Lautaro Nit 6s '54. Leh Val cv 45 2003, Lig & Myers 68’51, Loew’s 6s ex w "¢1. Lorillard La & Ark 5 N unf ¢ N4 L& . MI1E Ry & L 5861 Mi) E] Ry&Lt b8 ‘71 M StP&SSM bs MSP&SSM 5% MK&T prIn 6sA’ Mo Pac gn 4875 Mo Pac 5s A '$5. Mo Pac 5s F '77 Mo Pac 58 G '78. Mo Pac 5s H '30... Mo Pacrf5s’81... MoPac5%s A4S, Montevideo 6s '59. . Montevideo 78 '52. . Mor&Co 1st ¢ %#'39 Nat Datry 5% Nat Steel 5 Netherlands NOT&Mb5sB'54. NOT&Mb5%s '54. 'w S Wales 53 '57. N Y Centdb 6s'35., NYC LS cl13145'98. NYC&StL 43 '78. NYC&StLS % 8A'T4. NYCAStL 68°32. .. N Y Edisn 58 B'44. N Y Ed 1st 63841 NY ELH&P 48°49. NY ELH&P 55 '48. NY O&W 1st NY O&W gzn NY Rys inc 6 NY Rys 6s A '65. NY Tel 4%s8°39.... NY W&B 4%s8'46. . Nia Sh Md 5% s '50. Norf South § Nor & Wn ev or O T & L 65 '4 Nor Pac 38 2047. Ner Pac4s'97..... Nor Pac 58 D 2047 Nor Pac r 163 2047, Nor St Pw 55 A "41. Orient dev 5% 5'58. Orient dev Pac GAE 58 43 P Paramount z Paris-Ly M 8358, . Pathe Exch 7s'37.. Penn 44sD31.... Penncv4is 60... Penn gn 4%s ‘65, .. Penn 43%s'70 Penn gen bs 68 Peor & E 1st 4540, Pere M 1st 45’56 Peru 6s°60.... Peru 8s'61. Peru 7s'53. Phila Co 53 Phila Elec 45 'T1 Phil & Read 8s Phillip Pet § PCC&St L 58 B 75, P& W V4%5C'60 Poland 6s 40 les. Hizh. Low. 81% 81 Close. 81Yy 39 1AL, ISTREET GAR LINES . HAVE HARD YEAR |Association Head Notes Loss in Traffic—Most Workers Kept on Pay Rolls. BY CHARLES GORDON, Managing Director, way As The local transportation industry in the United States has felt and is feel- jing the business depression. The net national loss in riders for 1931 in com- parsion with 1930 was about 9!; per cent. Compared with losses in other classes of business and in view of the fact that the most transportation riders are workers or shoppers, whose num- bers have been decreased by the depres- sion, that is remarkable evidence of the basic need for public transportation At the beginning of 1931 there were about 250,000 persons employed by the ingustry. Through the co-operation of employes, the managements of various companies have been able to provide at least part-time work for most of their regular personnel. This record durirg an extremely difficult year is gratifying. It indicates that, in addition to its im- Emnt position as an employer of bor, stability of employment is a characteristic of the local transporta- tion business. National figures do not reflect, how- ever, the situation with respect to in- dividual companws The declines in buaness In the small communities and {or ftierurban propecties have been ml:"h more serious ttan in the larger cities. Trolley Busses Extended. Despite this condition, electric rail- ways have adopted and co-ordinated motor bus service to supplement the service of rail lines and have during the past year made considerable prog- ress in perfecting and extending the use of trolley busses, which have proved very attractive to riders. At the pres- ent time bus operations by electric rail- ways represent 27 per c#it of the total number of busses operatéd in common cacrier service in the United States. ‘Phe number of passengers carried on busses operated by electric railways was 70 per cent of the total number of pas- sengers carried by common carrier busses in the country. The process of co-ordinating rail, bus and trolley bus services has been ex- tended on a large scale throughout most of the leading cities of the coun- try. This step has largely eliminated wasteful competition and made possi- ble substantial improvement in service Prom an industry supplying 44,000 miles of exclusive rail service in 1920, local transportation has been extended today to one of 64,500 miles of co- ordirated bus and rail lines. Cars Better Appearing. During the past year an intensive effort to improve the appearance, at- tractiveness and economy of street cars been carried on _ co-operatively through the Electric Railway Presi- dents’ Conference Committee. Over $500,000 has been made available for this work by a group of leading oper- ating and manufacturing companies. This project is being directed by Prof. C. F. Hirshfeld of Detroit in co-opera- tion with the research departments of several universities and in a special field laboratory in Brooklyn. The cb- Jject is to produce lighter, quieter and more comfortable street cars, and it is expected that the first model car will | be ready for service tests within an- other year. Electric raillways have also under- taken during the past year an ex- haustive study of their rates of fare with a view to developing a more equitable rate structure. The purpose is to devise a scheme of rates which, while being fair to all classes of riders, will at the same time 2id in modify- ing the unfavorable load factor from which transportation companies suffer because almost half of their total rid- ers are carried during morning and evening peak hours. Thus transit leaders are pressing forward toward improvement of fa- cilities and service despite the serious oints, along with the general potato confidence restored. ;&nrkel. buxv:gme price 1e§/el showed no| The people of these republics, like Virginia stock sold at|those of us in the United States, have learned lessons of cconomy, and lux- affects of the depression upon their Poland 7s *47 i ess. % ChiR1&P 4%s 53 Poland 8s'50 ChiRIcv4%s'60. C TH&SE in 55'60. Columbia Countyy Club 5} | pressed period. Every informed man v A e H chanics salvage from several old cars | of course, knows that the Latin Amer- | at least four good ball-bearing wheels. uniform trend. 35 to 75 cents a bushel in Eastern markets. New Jersey potatoes sold at 75 cents to $1.10 in Philadelphia, Bos- ton and Pittsburgh. Virginia white yams brought 40 to 60 cents in Phila- delphia. Maryland and New Jersey stock sold at 40 cents to $1 in five East- ern markets. South Carolina Porto Ricans ranged $1 to 11.15. ! Onions Higher. The slowly rising price trend on onions prevailing through the closing months of 1931 has continued into the new year and further sharp gains oc- curred the first 10 days of January. Western New York onions advanced 10 & new top of $2.50 per 50-pound sack in the Rochester district, with active demand and a strong market tone. Con- sidering the smaller production in_the State this season, shipments have held up better than might be expected. The figures to date stand near 2,500 car- | C loads, compared with nearly 3,000 last season to date. The large markets gen- erally report moderate supplies. Track holdings have averaged about 100 cars in the 12 leading markets daily during the past two weeks. Demand has been increasing to some extent during the time of rising prices. New York and Massachusetts yellow onions have been selling in Eastern cities at $2 to $2.25 per 50 pounds. Some choice stock ex- ceeded this range Cabbage Prices Advance. The upward trend of the cabbage market continued in early January, Teaching new top prices at several points, but country shipping points in New York and Wisconsin showed little further change. Top price for bulk cabbage in the Rochester district was $15 per ton. A supporting feature was the lightness of shipments from the South, but prices of Texas cabbage lost a little of the advance made at ship- ping points. Old cabbage is in moder- ate supply and in fair demand in most Eastern markets. Receipts of New York long-keeping stock brought $18 to $25 per ton in New York, Boston, Philadel- phia, Baltimore and Pittsburgh, ad- vancing about $2 the first week of January in New York and Pittsburgh, ‘This stock sold as high as $35 in some Midwestern markets. Sales per 100 pounds ranged $1 to $1.25 in Washing- ton, Cleveland and Detroit, Red cab- bage reached $50 per ton in New York City. Dealers in cabbage producing sections of Western New York were still paying growers around $10 per ton for Danish type cabbage. Carrots Selling Better. Lighter production of carrots this season is beginning to appear in a stronger market position. Sales of 100- und sacks recently exceeded the dol- r mark in the Rochester district. Be- fore that time very little business was reported above 90 cents. Washed car- Tots in bushel baskets and 50-pound sacks realized 70 to 75 cents. Carlot movement has slightly exceeded that of last season to date. but the crop is estimated much smailer and holders feel encouraged by recent developments. Prices are firm in New York at $1.25 100 pounds. Some lots brought $150 in Boston, and Philadelphia quoted top of $1.35. New Southern carrots are in light supply and sold as high as $4 per crate in New York. The celery market is irregular, mainly because of quality, which is only fair to ordinary on most Eastern shipments. BALTIMORE STOCKS. Special Dispatch to The Star. BALTIMORE, Januery 8.— STOCKS. Last sale. . 28 uries and luxurious living are giving way to & simpler life. In normal periods the importation of luyuries from Europe and the United States was rep- resented by large figures. Last year these importations were exceedingly low and the outlook for sales of such goods is not bright. For instance, in grade motor cars was important. To- day one notes a change and less ex- pensive cars are more popular. Again, DIVIDENDS DECLARED NEW YORK, January 9 ().— Pe- npans. Rate riod. able §3 .. Jan. c. 31 Jan. 5 Nov. 30 Jan. 7 10¢ sl Nov. 30 Wat Po & Pa Initial. Linco Pire Ins new..25c Q Jan Tr new (Bost). 25c Jan Liquidating. Pac Am Fire Inc....510 Cons Jan 30 12 Jan. Feb. 1 Jan. 20 Resumed. Colon Pin (R1) pf.17'sc @ Jan. Stock. Sent W Pub ser A.2'2% Q Peb Reduced. 1213% Q 35c Omitted. Company. Rate. Period. Due Dominguez Oil Pi_2lac M Dec. 1 Hill Joiner & Copf§3.50 8 Ja McKay Co 7% pf...... Div.d (Joseph T), 15 Dec. 31 2 Jan. 15 Allis Chalmers Feb. 15 Union Oil of Cal Feb. 10 Pe- Pay- Rate riod. able Y)40c Q Jan. Dec’ 31 Q Dec. 31 record Jan Dec Dec Ins (N Dai Pro..50c 175 H 51 m All Annapolis Do. pi Can W Nat Gas Lt & P Jan Jan hrs Jan. 1 Comwealth Life Ins 4 ville) 400 El Pow Asso Ci A D Fort Worth Nat Bk (Ft. Worth) Germin Pass Ry $131% Great Am_Insur...40c Holyoke Nt Bk (Mase) Indust Tr_ (Phil) Jeflerson Rity Corp 5% 18t 52 26c Jan. 3 2 Louistana, P & L ol Marc Wireless Tel Co Ltd pf reg lst Do (bearer) 1st Mont Tr Co (Norris- town. Pa) 25 N ¥ Merchandise, 28 Do p! Pat & Hud Riv Porcelain’ En’ & Mg ... 6d 6d 2 % $1.75 2 nd Pw & R Trusteed Snrs Pub Ber A rex Do_coupon Riverside Cement pt : $1.30 Reh Am 1nof NY.38c Traders Pin Corp (Ter) of A ...5178 Do B K] Troy & Bennington R. R. Co. Trustee Stand Oil §hrs T A_coup..22.103c Un In Tr Shrs Ber ¥ reg 15.08c Do Ser F 5.08c Utica Clinton & Bing. prltmion deb . (580 8 Dec. 36 tica Gas Boeiman ol 8 T Yosemite Hid pf..87%¢ Jan. prosperous times the market for higher | 2 73 | makes it possible for the the traveler to | n: 4 ue at this time Hldrs. of | 8 24 | unknown fastnesses. Over the Amazon 14| tudes of Magellan airplanes have car- | 15| 15 | contribution of 1931 to science and dis- 3t of | covery are just about the reverse of| %, " different enterprises of this| X 1 15 31 20 2| to occur. 16 30 | With four wheels and two axles the | mechanic turns out an unusual wagon | |to which a horse gives motive power. Cali, by thus utilizing parts of dis- carded automobiles, provides delivery wagons which are far easier to draw |about the streets than the heavier wagon long in use. | Air Travel Increases. During 1931, facilities for air traffic| have steadily advanced. Two mnew | | planes of 50-passenger capacity have | | been placed in service between North | |and South America. Others are under | construction. These giants of the air| |are sailing back and forth bearing ‘ heavy burdens of mail and freight; | while passenger bookings seem to war- | | satisfactory and that safety features | are a source of comfort and reassur- ance to the traveling public. il In every Latin American republic | established regular service to the utter- most reaches of the continent; Bolivia, | Paraguay and Ecuador placed planes on | routes that open primeval regions to | quick postal service—regions that will | | be among those of active development | in the future. Co-operation of national | | and international air services has been | | extended during the year; and this fact | visit almost any region if he is willing | | to pay for a special plane. A case in| | mind occurred at Belem (Para) where | it was necessary for a commercial man | to reach quickly certain rubber planta-| | tions in the Amazon Valley. The round | | trip was made in a single day; a river | | boat would have required a week. | Explorers Use Planes. | Airplanes have proved to be a boon | to those who would visit and study the | and over the Andes and over the soli- ried the seeker of facts. Indeed, the s | those conditions with which the busi- ness world has had to contend. | For instance, some brave men of | canoes and by the use of special cam- | eras obtained unusual photographs | from dizzy heights. Science recalled a field man from Java and sent him to the slopes of mighty Izalco in Salvador, where he is endeavoring to find some | of that volcano's secrets. “By our | modern features of investigation,” says | | this scientist, “we believe we can pre- dict when future eruptions are likely Such knowledge may save | many lives from the horrors that over- | | took the people of Guatemala a year .| ago.” The beginning of 1932 finds this | ‘| man on his mission among the voi- | 4| canoes 0| Southern Mexico and Central Amer- 0| ica were visited during the year and | their ruins examined more carefully; | 0)d walls and masonry high up in the 1| Peruvian Andes were photographed and mapped. Books and reports now avail- able seem to indicate that the Ameri- cans are really older than we supposed them to be. The pushing onward of dirt roads— not to mention miles of modern high- ways—has helped the explorer. One of the most notable examples is the widening of a trail to the width of a road. This road opens a fotor route to the geographic heart of South America—8anta Cruz, in Bolivia. This Toute of 400 miles begins at Yacuiba on the Argentine Bolivian frontier. The largest flow of European emi- grants to the countries of Latin Amer- ica was recorded in the years immedi- 1 ican republic will eventually resume the welcome to immigrants, and, like the stream that poured into the United States in earlier days, with it will flow many sturdy characters whose ald tc the upbuilding of the several nations will doubtless be pronounced. British Advisers Optimistic. British investors have many wise counselors ,who reside in one or an- other Latin American country, and it is partly on their reports that the bondholders of England are guided in their buying and selling activities looking over these reports from diverse fields of Latin America, while, in gen- eral, depression is pronounced and con- tinues, it is further to be seen that Pay- Hldrs. of | Tant the opinion that this mode of | British opinion is optimistic, but a “long record. | inter-American travel is proving highly | pull upward” seems inevitable. Both British and American financiers have called attention to conditions that prevailed in 1890 when some of the Re- publics found it impossible to meet for- 15 | local air traffic has made strides dur- | eign obligations, But indefatigable ef- 7| ing the year. Argentina and Chile have | forts on the part of government officials proved successful, and these obligatjons | were gradually met, to the integrity and honor of the several governments. That which was done in the past may be re- peated today; certainly, bondholders may feel some assurance in the rigid economy now being practiced in Latin America; it is an indication of the ful- fillment of promises. A feature of the inter-American co- operation in planning for tomorrow was the assembling at Washington in Oc- tober of delegates from governments and from leading commercial and in- dustrial organizations of Latin America. At this fourth Pan-American Com- mercial Conference the visitors met United States delegates and for a week these all-Americans discussed matters of common concern. Numerous resolu- tions were formulated looking to the betterment of business relations—the re- moval of many & barrier that has im- peded progress. And after the confer- #TOCKS. PORWC UTILITY. Wash. Rwy. & EL pfd. 55 NATIONAL BANK. Min. price. Asked COpItAT: (1000 e vesots oz ilIBEE £3850 Columbia (13) el Commercial (stamped) '(10) District (8) . 198, Fed-Amer, Natl Bk & Tr. (2.0 41 Vel os)t 0 00 Washington (i2) \ TRUST COMPANY. Amer. Sec. & Tr. Co. (15) Natl. ‘Sav. & Tr. (131)_... Ej Prince Georges Bk. & Tr. (6)." Union Trust (88)........ . Wash. Loan & Tr. (i4) SAVINGS BANK. Bank of Bethesda (63)... Com. & Bavings (10) : East’ Washington (12). Potomac (10).... Sec. Bav. & Com. Seventh Strest (12) United States (30)......" Wash. Mechanics (20)... . FIRE INSURANCE. American (12) orcoran (10 Firemen's (8) .. National Union (18)..." TITLE INSURA] Columbia (6h) % ; Real Estate (6h MISCELLANEOUS. Barber & Ross. Inc, com Col. Medical Bide. Corp, Col_Sand & Gravel pfd D. C. fd. .. Dist. Emer. Fed-Am. Co. pfd.’ (6) Lanston Monotype_ (6) er. Tr. & Stge. Com. (i0) Mer. Tr. & Stge. pfd. (7 Mergenthaler Linotype (8 y @ visiting “business leaders” toured the Eastern States and saw the operations country, most of which consume raw materials from the other Americas. 15| science fiew over Central American vol- | Thus a year of depression witnessed in- ter-American mingling and building of friendship, the value of which is far be- yond that' of dollars and cents The meeting of representative bank- ers of Bolivia, Chile, Colombia and Pery at Lima in December was an important step for promoting financial stability in the several countries as well as a phase of co-operation and personal exchange of views. Out of this meeting grew the recommendation that all of the coun- tries concerned do their utmost to bal- ance their respective budgets and other- wise strive for economy to meet the un- usual situation. The eflorts to balance the budgets of the several nations is a story entirely too lengthy for consideration in this brief article. In conclusion, when shall we expect the return of prosperity in the Latin republics? The answer is as difficult as States. Some facts, however, are self- evident. All the Latin American re- publics will further resume their normal and varied activities when the giant in- dustries of the United States and those of European countries begin to show signs of renewed vigor and production, Finished goods must be started from | raw materials: and no part of the earth is more bountifully endowed than the | vast stretch of nations that lie south of this country. All of these countries are | practicing economy and by other means are “marking time.” When the Brder for raw materials is heard the re- ately preceding the World War. Tak- sponse will be immediate. ence closed nearly half a hundred of the R if the question were asked of the United | R AP W 1.20) . Woodward & Lothrop pfd. (7 *Ex dividend 527 extra bBooks closed. ¥2%% extra. 5c extra. 3% extra. 4% extra. 15% extra. elth% extra. Unlisted Department. BONDS. Mi) Army-Navy Olub 5 Cosmos Club_ 4135 o Commercial Club ist 5s Mayflower Hotel 85 7 Metropolitan Club 4738 Nat. Press Bld. lIst 5'as. STOCKS. Anacostia Bank .. Chapin Backs 8% pid. Connecticut Ple *Co. Chr. Heurich Brewery District Title Insurance Co. Franklin_National Bank..... Munsey Trust Co National ol Insurance Co Northeast Bav} Bank Park Bayings Bank Rilsthaton ‘Bavings Baok ashington \ngton Title Isurance Co 5. Washington Base Ball Club Wesdride angdon Sav. Bank. 13 Huskies Save Man's Life. nimum price Asked. 90 AKLAVIK, Canada (P).—Arctic hus- kies, heroes of the North, won another race against death when they ‘mushed R0 miles in the teeth of a blizzard and brought Constable A, W. King, shot by & thieving trapper, to & hospital in time to save his life. Crechoslovakia hga Jess inan 30,000 registered motor v es. Chi Un St 58°44... Chi Un Sta 55 B '63 Chi Un Sta 6%5 '63 Clev Term 58 ‘73. . Clev Term 5% Colomb 6s Jan '61.. Colomb 6861 Oct . Colo & Sou 4% '80 Col G&E 55 May’s2 - o Raoanve—aSuio vwas o, Ra Con Pwr Jap 6% Consum Pow 5s Copenhag 58 ‘52 Cuba 6%8 45 Cuba R R 585 Denver Gas 5. D&RGren Pos Tel & C 55’58 Prague 734553, Read Jer Cn Rem Arms R10 de Jan 85 '46. R Gr Do Sul §s '8! R Gr Do Sul 85 °46. Rio Gr W clt 45°49. RIAr&L4%s 4. Rome 6% 852 Roy D 4845 ww. StL IM R&G 4533, 21 St L&SF In 48 A '50 102 StL&SF 4%s'78.114 StL&SFplb6sB'S0 7 StS Wen 33. 15 StLSWist4s'sy, 1 AN AR S RO n R StP&KC SL 4% 8'41 DRG& W 5s'T8.. Det Edison rf 5849 Dodge Br cl 65°40.. Duquesne 4%s'67. Erle 1st con 489 Erfeconv ¢s B.. Brie gen 4s. Brie cv bs '§7 Erie 5s'76. 5. Finland 78 '60..... Fram 1D 7%s"'43. French 7s'49. French T%s '¢1. Gelsenk’hen s’ Gen Baking 5%u ‘40 Gen Cable 5%s 47, 10 Gen Motors 68 '37. Gen Th Eq 6840 German 6%4s 65 German Bk 63 '38. Ger Cen Bk 65°60 J Ger Cen Bk 65 '60 O German 7s rep "49 Goodrich ¢ Good 15t 63%8°47.. Goodyr Rub 58'67. . GrandTr sf db 65'36 Grand Trunk 7s°40. Grt Nor 414576 D. Grt Nor 55’73, Grt Nor gn 7s’! Greek 65°68. Hait! 63°53. Hock Val 4% » o o BN A wa e s RAS Humble O 6%u '33. 111 Bell Tell 53 °56.. 11l Cent 4 '53 11l Cent rf ¢ 111 Cent 4% U1 Cent §%s o 3= 1] Steel 438 °40... Inland St 434 s B'81 Int Rap Tr 53 °66. . Int Rap Tr sta '66. StLS Wss'52. 5 10 3 St P Un Dep 65 '72. Sao Pau 79°40 ret Sao Paulo 8s '50 Saxon P W 6% Serbs-Cr-81 Shell Un Of1 Shinyetsu 6%s ‘62 Sine O 7scv A 37, g;nc Cr O 5%s '3 SW Bell T b3 Sou Pac 4% £F Sou P 4%u'69 ww. Sou Pac 4%s’'51. Sou Ry gn 4 StOIIN Y %861, Sweden 6348 54 Swiss 5l 46 Tatwan E P 6%#71 Tenn EI Pés A Tex & Ark 5%#'50. Toklo El Lt Un Pac 1 Un Pac ¢s Un Pac rf ¢s 2003 Unit Drg cv b8 '65. Utd King 5%s8°37.. Ud St W 6%sA'51 Unit SS Cop 65 '3 Uruguay 8s 46. Utah P& L 88 '44 Util Pw 63 ‘59 ww. Util Pow 5% 8 47 Vanadium St 5a°¢1. Vienna 6 52. Va Ry & Pw bs '34. Int Hydro El 6344 Int M Co s ret'¢l.. Int Match 65°47... 3 Int Pap 58 A '47... Int Pap 6s "5l Int Ry CA5s8'72... Int T&T ¢%s'52.. Int TAT cv ¢%'39. IntT&T6s'85.... Ttaly Ts°51... 2 Japanese 5% 5., Walworth 68 A "45, Warn Br Pic 6x'39, U Wis Cent gen 48 Tgatn S&T fe B 87 30 8 L) Huge Investment Involved. There is invested in this business approximately $5,000,000,000 upon which a fair return has not been earned in 15 years. As a consequence it has been unattractive to investors and electric railways throughout the country have been handicapped by lack of credit needed to make neces- sary improvements and extensions and to _meet maturing cbligations. The future of the local transporta- tion industry is dependent upon rec- cgnition by the public of the need for relicving these companies of many burdens which are not a proper part of the cost of public transportation service. Thele include excessive taxa- tion, paving requirements and many others. Our cities have been built up on the assumption that there would be a ready and cheap means of trans- ggl(”tt.;lfll:n llBVlL!nble from any section to er. usiness could ma_‘ou; - not carry on , therefore, this necessary service is to be maintained in the fu!rly;re. ways must be found of relieving transporta- tion systems of the extraneous bur- dens they are required to carry. Other- wise, transportation service will have to be restricted to those sections and routes which offer enough patronage to-pay the costs or some form of pub- lic subsidy must be provided to make up the inadequate earnings of city-wide tn_;_l:pml't:xt‘lon ljystems. e latter alternative is distastef: alike to the public and to the trl!\:! portation industry. Managements are doing their utmost to avoid this con- tingency. They are convinced that this industry has a real future for con- structive service and conservative in- vestment, provided it can enlist the public co-operation needed to permit it to work out its problems. Local transportation is definitely a matter of public concern, ' IMONARCHISTS IN SPAIN USE ALFONSO BUTTONS % |Color of Emblems Worn in Lapels Cries “Viva El Rey,” or Long Live the King. PARIS.—Spanish monarchists living in Prance are now wearing a green button in the lapels of their coats. Green in Spanish is “verde,” the five letters of which stand for “Vive el Rey de Espana” (long live the King of Spain). ‘The Spanish royalists appear to have been inspired by the Italian example, for when still under Austrian domina- tion Italian nationalists gavé vent to their sentiments by writing “Verdi” on all the walls. In this case the letters stood for “Vittorio Emmanuel, Re d'It- alia” (Victor Emmanuel, King of Italy). The Italians had an advantage over the Spaniards for they could always plead that their inscriptions related to Verdl, the composer. As “verde” has no similar significance, royalists in Spain conceal the green button by h\venpdtnx it on the inner sid® of the (Copyright, 1931.) FEDERAL RESERVE RATIO. By the Associated Pry The ratio of total reserves of the 12 central banks to deposit and Federal Reserve note liabilities combined show a sharp increase during the week ended January 6. As announced by the Re- serve Board, the ratios follow for com- wrnblt periods: ‘eek ended January 6. Previous week . . Same week last y 65.5 per cent 61.9 per cent . 76.3 per cent