Evening Star Newspaper, January 15, 1932, Page 14

JAN FINANCIAL BANKERS SHOWN VALUE OF STUDY ilnstitute Hears Stirring Talk by R. W. Hill, National Association Officer. , 3992 I ON NEW YORK BONDS STOCK EXC Received by Private Wire Direct te The Star Office UNITED STATES. (Sales are in $1.000.) FRIDAY, JARY 15 STAR, WASHINGTON, D. C. IBONDS SLOW DOWN AS PRICES DECLINE Market Reverses Direction After Heavy Turnovers for Two Days. Us BY F. H. RICHARDSON. Special Dispatch to The Star NEW YORK, January 15 market reversed its direction | Am Chain 6533 with trading down again to nominal | Am F p 542030, proportions after the heavy turnover of |Am 1.G Ch 515 '43., Wednesday and Thursday. United | Am Intl 5%s'49. States Government issues dipped sharp- | Am Metal 5%s°34. . Iy after their large recoveries of the [Am S&R Ist 5s'47. past two sessions. Am Sug Ref 6337, The opening was irregularly lower.|AmT&Tcy 4%839 9 106% The New York Federal Reserve Bank, |AmT & T s 65... 122 98 in its failure to cut the rediscount rate | Am T&T c tr 6s '46. 31 9974 and in the decreases saown in out- |AmT&T 5ssf'60.. 41 98'% standing credit and investment in |Am T&TBls'43... 60 102% United States Government bonds, | Am Wat Wks 6s " 3 82 showed that it had no immediate in- | Arpentine 53s 23 50 tention of forcing down money rates | Argentine May '61. 548 or of adding substantially to its in-|Argentine 6sJu’ p vestment portfolio. | Argentine 63 0c’59. Developments abroad were of 8 |Argentine 6sA '57. negligible nature. No definite move in | Argentine 688 '58. European bonds is expected until the | Arm & Co 4%s'39.. Lausanne Reparations Conference gets | Arm Del 514s '43. . under way. There was a modicum of | Assoc Oil 65 '35 comfort for investors in South Ameri- | Atchison gn 48 ‘9 can descriptions in the statements by | Atchiscy 4%s ‘48 Brazil, Chile and the Argentine that'AtlCL 1st4s’s2. every cent of bonded indebtedness will | AtIC Lcl 4s eventually be paid. At home, the mar- 414564 ket was somewhat disappointed at the ralia 433 developments of the opening of the | Ausiralia5s’ss Chicago rail w conference, but | Australia 5357 still hoped for a suc ful termination. | Austria 7s'43. United States Government _issues | Austria 7857 ctf sagged ': to over a point. rading in | B& O 4s'43 them. however, was not nearly as heavy | B & O 43%s '3 as in the two previous sessions and |B&Ocv448°60.. offerings did not approach the volume | B & O 1st 554 moving in the decline of 10 days ago.|B&Orf 5s'95 The maintenance of the rediscount rate | B & O 6 D 2001 had much to do with the reversal of the | B& 0 6595 trend in this market. Had the rate!B & O P&WYV 4’41 been cut there would have been some | Bk of Chile 6348 57 reason. even in the face of the new | Bk Chile 63 financing the Treasury must do this | Batav Pet 414 vear, for pushing Governments up to a | Belsium 6s ‘55 4 per cent yield basis. Once again fum 63434 Treasury 3s were the heaviest issue, | Belglum 7s°56 losing more than a point on the sale [ Belgium of only a few bonds. Treasury 4!4s|BellTel PassB 43 dropped nearly a point. The Liberties | Bell Tell Pa 53 C'60 had fractional losses. Berlin Cy El 61 '55. n the railroad list profit-taking was | Berlin C E 6%s'50. the paramount factor. Issues such as|E6th Stlpm5s°38. Nickel Plate 6s and St. Louis South- | Beth Stirf 3t s 43, western Consolidated 4s, which have more than doubled in price since De- cember 17, were down 4 to 5 points Substantial losses occurred in Erie Baltimore & Ohio 4'.s. Missouri-Pa- cific 55, Denver & Rio Grande Western 5s_and similar issues High-grade railroad bonds, with prime utility descriptions, generally steady. Some _industrial moved down with junior rails In the foreign list German govern- ment 5!,s and Dawes reparations 7s were subjected to some realizing, but gave ground slowly. German Central Bank 1ssues were lower. Most other | Europeans were _slightly lower, al- though British 5':5 gained about a point in response to higher quotations for sterling. In the South American list Argentine 6s of various maturities and Brazilian government obligations were up 1 to 4 points. Australian and Japanese issues were little changed. The bond market opened irregularly. Railroad issues, which have recently scored large recoveries, were under pressure from profit-taking and, as a result, there were small declines in de- scriptions such as Erie 5s, Missouri-Pa- cific 55, Nickel Plate 41.5 and Western Maryland 4s. Canadian railroad and government issues were generally higher, owing to the optimistic speeches at the annual meeting of the Royal Bank of | Canada. In the foreign list. German govern- ment issues were unchanged. Most Europeans were inactive. Italy 7s gained a small amount. Greck 6s were off South American and Japanese fssucs were little changed Shirt Sales Off. NEW YORK, January 15 ! chandise interests say that T shirt lines, recently opened to the trade, have met with an unsatisfactory re- sponse. Only a small volume of orders has been placed so far, with real im- provement not. ected for another month, it was said. INVESTMENT TRiliSTS NEW YORK. January 15 (#).—Over- the-counter market A B C Tr shrs A BC Tr Am & Gen Sec Am & Gen Sec & Gen & THE EVENING FINANCIAL. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. A—14 ¥*s COUZENS BUS BILL RAIL AID DOUBTED New Senate Measure Broad- ened to Include Operation of Truck Lines. BY GEORGE E. DOYING. Although most of the agitation for | Federal regulation of interstate motor | truck operation has been for the pur- se of affording a degree of protec- fion to the railroads. observers here were unable today to see much if any real benefit to the rail carriers in the provisions of a bill introduced by Sena- tor Couzons, Republican, of Michigan, chairman of the Scnate Committee on | Interstate Commerce The bill is patterned in large measure after the so-called Parker bill, which assed the House in the last Congress it failed to pass the Senate. The Pa ker bill, however, was confined to tr regulation of interstate busses, while the new Couzens bill is broadened to include truck operations to a limited extent Although the bus operators would be | obliged to show that public convenience and necessity require any new service proposed, the freight carriers would re- ceive permits from the Interstate Commerce Commission “if It appears that the applicant is fit and able prop- erly to perform the service proposed.” Two Kinds of Carriers. Two classes of motor carriers are de- | fined in the bill—common carriers of | sons or property ope : over fixed TYoutes or between fixed terminal, and | the “charter carrier by motor vehicle, which includes all other carriers for compensation excepting school and ho- tel busses, taxicabs and Government vehicles in the national pafks. In granting permits to common car- yiers of property and to charter car- Yiers the commission would be directed by the bill to specify “reasonable limita- tions in respect to service while operat- ing over any regular route of a common carrier by motor vehicle,” but there is nothing in the bill that directs the commission to give consideration to any limitations while operating over the Youte of a railroad carrier. The bill would give to the Federal commission_jurisdiction over the rates of interstate busses, but not over those of interstate trucks. Both classes of vehicles, however, would be required to file surety bonds or insurance poli- cies for the protection of the public. Joint boards composed of representa- tives of the States affected would be empowered to hear applications, com- plaints, etc. and proposed consolida- tions or mergers when involving not more than three States. ‘Would Give 1. C. C. Power. The railroads would be permitted to| organize or operate motor carriers Shere no consolidation or merger is involved, but the interstate commerce act would be amended to provide that approval of the commission must be secured for any consolidation or merger of a railroad and motor carrier. The motor carrier ,act itself would prohibit a consolidation or merger if one or more of the carriers is directly or in- directly engaged in passenger trans- portation by railroad Representative Huddleston, Democrat, of Alabama, has introduced in the House a bill to confer upon the Inter- state Commerce Commission jurisdic- tion over all common carrier motor vehicles engaged in interstate commerce and would permit the commission to hold joint hearings with State author- ities. Contract or charter carriers are not included in this measure. Representative Boland, Democrat, of Pennsylvania, has introduced a bill that would impose an excise tax upon all busses and trucks engaged in inter- state commerce. The tax would be 2 cents & mile on busses accommodating not more than 10 passengers and trucks having a capacity of one and one-half tons or less and 3 cents a mile on the HANGE Sales. Hizh Low. 3:58 3 B0 . 14 56 . 135 48% 10 6 . 24 1 13 1 11 Cent 48 '53. ... 11l Cent rf 48’56 {111 Cent 4% (11 Cent 6148 '36. 111 CCStL&N 5s A 11 Steel 4148 '40 Inland St 4 [nland St 4% s B'S1 Int Rap Tr 65 '66. . Int Rap Tr sta '66. Int Rap Tr 6s'32.. Int Rap Tr 7s 32 Int Cement Int & Gr Nor Int & G N ad 63 '52. Int Hydro El 6344 Int M Co 5s ret'4l.. Int Match 68 '47... Int MM col tr 6541 Int Pap 58 A "47. Int Pap 68 '56...... INtT&T4%s8'52.. Int T&T cv 4 %839, [nt T & T 6865, Italy 78 '51. Italy Pub S 7s '62.. Japanese 5% s '65. . Japaness 614 '54.. Jugosl Bnk 78 '57.. Kan City Sou 3s8'50. Kan City Sou 6850, Kan City Ter 45'60. Kresge Found 65'36 Kreug & Toll 53'59. LacG St L 5s'34... Laclede 548 C'53.. Laclede 515 D '60. Lake Shore 314897 Lautaro Nit 63 '54. Leh Val cv 4s 2003. Lig & Myers 55 '51. Loew's 63 ex w '41.. Long Isl rf 4s'49.. Lorillard 78 *44. ... La & Ark 55°60.... Lou G & 15352, . 9 97 L & N uni 48"40. 84 L&N 1st 515 2003. 3 Lvons 63 '34... McKes & R 54550 Manh Ry 1st 45'90. Marsellle 63°34.... Midvale Stl 53 °36.. (Milan 648 °52. .. .. Mil E Ry & L 8 '61 Mil El Ry&Lt 53 *T1 Net. Low. Close Chue, 1% 1% 214 J12% 24% 2% 5. 95 98 19 Sales— Add 00. High 1% 215 13's 25' 5% 12 874 3% 264 Stock and Dividend Rate. 62 1 _Svminzton (A). 913 2 Tennesseo Corom 86% 97 Texas Corp (2). 55% 1973 Tex Gulf Sulphur 65 17 Tex Pacific Coal&Oil 17% 41 Tex Pacific Land Tr. 15% 53 Third Avenue. .. 18 6% Thompson Prod 120. 9 2 Tide Water Asso Oil. 68 2013 Tide Water As pf(§) 12 3'; Timken-Detroit Axle 59 1615 Timken Roller B(2).. 415 1% Tobacco Products 14 6 Tobacco Prod A t Tobacco Products ¢ Tob Prod A ctfs 2 Transamerica Corp.. 2 Tri-Conti Corp. .. 24 Trico Products(2%). 57s Truscon Steel 2 Ulen&Co. . 13% Underwood-Ell-F (3) 2714 [Tnfon Carb & (2.60). 11 Un Oil of Caltf(1.40) 70t Unfon Pacific (10). . 51 Union Pacific pf (4). 97% Unit Afreraft....... 40 Unit Atrcraft pf (3). 18 Unit Biscult (2). 0Air Cigar Stores Tnit Cizar St pf ( Unit Corp (T6¢) Dait Corp pf (3). Unit Fruit (3) U'nit Gas&Im(1.20) Unit Gas&Im pf(5).. 4 U S Express - U S Gypsum (1.60) U S Indus Alcohol. U S Leather. . US Leather (A).... U 8 Pipe & Fdry (1). U S Pipe&Fy 1st 1.20 U S Realty & Imp, U S Rubber......... U S Smtz & Ref (1). U S Steel Corpa (4) U S Steel pf (7). United Stores (A). United Stores pf (4) Univ Leaf Tob (3).. Univ Leaf Tob pf(8). Univ Pipe & Rad. Util Pwr & Lt A ( % Vadasco Sales Corp.. 11 Vanadium Corp 3% % Va-Cora Chem. 17 2% Va-Car Chem 6% pf. 71% 20% Vulcan Detin (4).... 69 Vulcan Detin pf (7). Wabash R R... 5 Wabash RR (A). Wabash RR (B) Waldorf Sys (1%).. Walworth Co. Ward Baking (B) Warn Bros Pictur, Warner Quinlan Warren Bros. Warren Bros cv pf 3. Webster Eisenlohr. West Pa El pf (1) West Pa Pwr pf (1) Western Dairy (A).. Western Dairy (B) Western Maryland.. 5 Western Md 2d pt 5 Western Unfon (6).. Westinghse A B(2). Westinghouse (2% ). Wsthse E&M 1st 314 Weston Elec Instru. Westvaco Chlor 1.60. White Motors. ... White Rock (4)..... White Sewing Mach. Wilcox Oil & Gi Willys-Overland. Wilson & Co (A). Wilson & Co pf. Woolworth (2.40) Worthington Pump Worth Pump A (7). 46 Wrigley (Wm) (4).. 3 Yellow Truck e 6% Zonite Prod Corp (1) 3 s Sales of Stocks on New York Exchange. 10:30 A.M... 200,000 12:00 Noon. 700 000 4| 1:30 PM.. 1,000,000 2:10 P.M. 1,200,000 “ Dividend rates us o given in the sabove table sn | DAYMELS Based O the ATel CURKEH Or BAlf-Yealy decieration 1315 | XEx-divicend. sless than 100 shares. fPartly exira . :Plus 1214 — 4% in stock. fPlus 9% in stock & Paid |ast year—no regular rate. 2% % | b Payable :n stock. flP}Ylble in cash or stock fPlus 8% in stock. Tow <2 | BFlus 3% o stock. " TBlus S0c (o spectal referred stock.” £ Plis ke stock. ©Plus 3%% in stoek. DoMmEArTur n Tualie ity 13— Hith Low. (Continued from Page 13.) 98 27 99 14 86 86 25 916 916 90 20 Sales— Net. Add 00 High Low. Close Chge 36 4N 4% 14 105 11 Stock and Divigend Rate Packard Motor (40c) Panhandle Pro& Ref. Par-Pub (b10% stk) Parmelee Transport. Pathe Exchange Pathe Exchange (A) Patino Mines. .. . Peerless Motor Car.. Tenick rd (1). Penney (J C) (2.40). Penna Raflroad (2).. Peoples Gas(Chi)(8) Pere Marquette pf... Petrol Corp of Am Phila Conew ¢6).... Phila&Readihz C & I Phillips Petroleum. . Pierce-Arrow Plerce Ofl ot Plerce Petroleum Poor & Co (B)...... Port Ric Am Tob(A) Postal Tel&Cable pf. Prafrie Ofl & Gas. Prairie Pipe Line. Pressed Steel Car. .. Proct & Gamt /2 40) Proc &Gamb pt (V.. Public Sve NJ (3 40). Public Sve NJ pf (5) Pub Sve C Dt (5). Pullman Corp (3) Punta Alegre Sugar. Pure Oil Pure Oil pf (8) Purity F e tadio Corp Radlo Corp pf A 3%. Radio Corppf (B) Radio-Keith-O(new) ¢ I C (3%) vhestos Man(1 60) 1% 107 2 3%s M 41-3 215 3%5J40-3.1 33543 3%s4 45 4454 43S 47~ 98 10 97 6 102 8 100 30 Sales. High. Low. 2:55 39 35 3 83% 40% 381y 281 25 46% 6% 72 58 96 1102t 100 30 465 44% 64 250 80 10% 102% 124 16% 22 268 16% 107 L3 60 AbItib] P&P 5s* S e e Re 5 o o BRE RN A SR T80 D RS 18 T Washington's junior bankers were | urged to devote one hour every day to study, and in that way be assured of success and distinction, by Richard W. Hill, national secretary of the American Institute of Banking, who addressed Washington Chapter students at their Midwinter dinner at the Raleigh Hotel. Officers, members of the faculty, the board of consuls and many guests at- tended the dinner. Mr. Hill made a brilliant, inspira- tional address, in which he told how and why unusual success had been iatmn‘.(‘d by many of the world's great ymen. He stressed the value of the broadest kind of an education, and par- | ticularly stressed the chance offered by the institute courses fcr those engaged in banking. In conclusion, Mr, Hill asserted that there is no substitute for hard work in the attainment of real success. The bond | Allegheny 58 °49. today, | heny 58 '50. 18 1% 45% 24 21% 5% (N 2w “ P - " R v 2044 - 92'4 % 54 9914 | 811z 108 5in 20 9y Norris Reviews Half Year. | Richard A. Norris, chairman of the | local chapter’s Educational Committee, presided. He reviewed the work of the + ! first halt year and looked toward the last half. He outlined several modifica- | tions which have been made in the | program for the second semester and stated that indications are that the chapter will be able this year to estab- lish a new class mortality record which will be evidence of the thoroughness and high quality of the work cf the chapter under the new educational pro- gram. Chairman Norris also stressed the low class mortality record, stating that the total enrollment in 8 subjects com- pleted in the first semester was 256. of which 240 qualified for final examina- tions, and he predicted that when final examinations are held in the two re- maining subjects the chapter will have established the lowest class mortality record in its history. Courses for Second Semester. Aubrey O. Dooley, president of Wash- ington Chapter, lauded the work so far done this year and stated that the group of study, courses to be offered during the coming semester will con= sist of commercial law. which will be conducted by Bolitha J. Laws, former assistant United States attorney for the District of Columbia and member of the New York and local bar: credit | management, by Harold W. Burnside, assistant cashier, Riggs National Bank: analysis of financial statements. by James Daniel Cushman and Willlam Gordon Buchanan, instructor at George- town University; money and banking, by Joseph Donohue, former instructor at Catholic University and member of the District of Columbia bar: trust functions, by Theodore Cogswell, regis- ter of wills, District of Columbia, and member of the local bar. In addition to these, the class in public speaking, under Dr. George Farnham. former lecturer in public speaking at George Washington Uni- versity, and the class in debate, under Prof. W. Hayes Yeager, instructor in debating at George Washington Uni- versity, will be continued during the second semester. Pope Greets Young Bankers. President C. H. Pope of the District Bankers' Association told the institute members that the association is solidly behind them. Raymond B. Dickey, dean of the faculty, spoke briefly, and F. P. H. Siddons, also a member of the faculty, made 'a brief plea for the Community Chest. _J. Earle McGeary, chief consul, urged his committee members to call atten- tion of all young bankers to the work to be started on January 28 by H. F. Kimball, membership chairman. The chapter now has 623 active and asso- ciate members. He said that the Wash- ington Loan & Trust Co. and the Se- curity Savings & Commercial Bank have 100 per cent membership and 60 per cent of the city’s bank presidents are members. U. S. TREASURY CERTIFICATES (Reported by Chas. D. Barney & Co. Rate—Maturity Bid Offer. 1932 100 4-32 2%s June 15, Mar. 15 1932. 99 31-32 as Sept. 15, 1032 98 22-32 Sept. 15, 1932 % 31-32 4s Dec.’ 15, 1932 99 31-32 el Samanwiioean Kwnm- 9 Reo Motor o public Republic Steel pf... 2 Reynolds Spring Reynolds Tob A (3). Reynolds Tob B (3) Richfield O1l. . Rio Grande Ofl. Rossia Ins of Ar Royal Dutch of NY. 571y 6 91% 2 68 2 66l 177 M StP&SSM s gtd. MSP&SSM 5148’78, MK & T 15t 4390, MK&T43B’62 MK & Tadj 58’67, MK&T prln 53A’62 Mo Pac gn 4s'T5... Mo Pac 53 A ‘85 Mo Pac 5s F'17.. Mo Pac 53 G '78. Mo Pac 53 H '30. Mo Pac rf 5381, Mo Pac5%s8A'49.. Mobile-Ohio 58 '38. Mont Pow 58°43... Mont P db 58 A '62. Montevideo 6s * Montevideo 7 '52. . Mor&Co 1st ¢%#'39 Nat Dairy 5% s *48. Nat Steel 53 '56. ... etherlands 6s'72. Eng T 1st 55'52. NOT&M5s B 54. NOT&M5%s '54. Nw S Wales 55 '57. Nw S Wales 55 ‘68, 6% 5, Safeway Stores (5).. y Strspf (6). Safeway Strs pf (7) St JToseph Lead (60e) Francisco. . ¥ran pf St Louis Southwn. .. Schulte Stores pf (8) Seaboard Alr Line. . Seaboard Air Line pf Seaboard Ofl........ Sears Roebuck (23%). Second Natl In Servel INC.......eet attuck (FG) (1). hell Trading & Tran hell Union Of1 5 hell Union Oil pf Shubert Theaters. .. Simmons Co Simms Petroleum Sinclair Consol Ofl.. Sinclair Oll pf (8) Skelly Oil 5 Skelly Oil o Sloss-Sheff Steel p! Snider Packing. Snider Packing pf. Socony-Vacuum (1). Solv Am pf ww(514) Southn Cal Ed (2). .. Southern Pacific (4) Southern Railway... outhern Railway pf parks-Withington. . Spicer Mfg. Splegel-May-Stern. . Stand Brands (1.20). Stand Gas&El (3%). Stand Gas&El pf (4). Stand Gas&El pf (7) Stand Oil of Cal(2%) Stand Oil of Kansas Stand O11 NJ (12).... Sterling Secur (A).. Stewart Warner Stone & Webster. Studebaker Co(1.20) Sun Oil pf (6).. 1% Supertor O1l. Bordeaux 65 3¢ Bos &Me 6367, Brazil 6%s Brazil 6%s 27 Brazil 7s | Brazil 8s Bremen 78 '35 | Bk Ed gn A 68°49.. Bklyn Man 6s 68, Bkiyn Un 58'45 Budapest us 6: Buenos A 65’61 Pv. Buff Gen El 4%48'31 B R & Pitt 4%43'57. Calif Packing 58 40 Canada 4 LR Canada 45’36 Canada 55 '52. Can Nat4%s 54 Can Nat Ry 4138’56 Can Nat 43857, Y Cent 4%s 2013 Y Crfim 582013 Y Cent db 65 '35. YC&StL4s'37.. YC&StL 4145 78 StL54SA'TH. NYC&StL 65°32. .. N Y Edisn 58 B'44. . Y Fd 1st 6% 541, Y ELH&P 434 Y ELH&P 5248, Y NH&H db 4s'57 Y NH&H 4348 67 YNH&H cd 63'48. Y ORW 1st 45'92. Y O&W zn 45 '55. Y Rysinc 6s°65. . Y S&W 1st 55 '37. NY S&W gn 53 '43. NY Tel 4345 '39 NY W&B 414846 . Nia Sh Md 5% '50. Nord 6%s '50. .. Norf South 55 61 Nor & Wnev 4 Nor Am Ed 65 C 69 Nor O T & L 63 "47. Nor Pac 332047, Ner Pac 48°97. Nor Pac 53 D 2047 . Nor Pacr 168 2047, Nor St Pw 63 A *41. Norway 6s'43..... Norway 6s '62. Oreg-Wash 4s “61.. Orient dev 5%45'58. Orient dev 68 '63-.. Pac G&E 53°42.... Pac T&T 1st 5s'37. Pac T&T rf 55 '53.. Paramount 8s ‘47.. Paris-Ly M Paris-Ly M Paris-Or 5% Penn 4%sD'81.... Penncv 4%s 60... Penn £n 4%s'85... Penn 4%s°70 Penn 4%s '63 Penn gen 55 '68 Penn 6145 '36 Penn O&D 4 5 Penn P&L 4158 '81. Pere Mar 4%s '30.. Pere M 1st 5856 Peru 6s'80. Peru 63°61. Phila Co 58 Phila Eiec 45 Phil & Rea 8 Phillip Pet 5% PCC&StL 4% ae P& W V4%sCH0. Poland 6s *40 - Poland 78’47, Poland 8s'50. Port Gn El 4%s'60. Porto Alegre 8s'61. Por RAm T 6842, Pos Tel & C 55'53. . Prussia 6s 52 Publlc Serv 4 G Pub SV G 4%8'67.. Pure Ol 5%5 37 Queensiand 4T.. Queensland Ts"41.. Read Jer Cn 4s'51. Reaa gn 4%8 A '97. Reading 4%3 B 97T, Rem Arms 63 A '37. Rem R56%8A47.. Rnine West 6352, Rhine West 63 '63.. Rhine West 6355 Rio de Jan 65 '53. R Gr Do Sul 63 '68. R Gr Do Sul 83°46. Rio Gr W clt 4349, RIAr&L4%s'34. Rome 6%5'52 Roy D 4845 ww. StL IM R&G 4533, St L&SF In 48 A ‘60 62 StL&SF4%s'78.1 StL&SF p |1 53 B '50 StSWends'32.... StLS W 53'52.. StP&KC SL 434841 San A & A P 48’43, ! Sao Pau 7s'40 ret Sao Paulo 8336, Sao Paulo 88 ‘50 Saxon P W 6%48'51. Saxon 7s'45.. a Seab A L 4s st'50.. Seab A L cv 68 '45. Sea All Fla 65.A'35. Serbs-Cr-S17s '62.. Shell Un Oll 5847, Shell Un Ofl 68°49. Sinclair Oll 6%#'38 Sinc O 7scv A '37.. Sinc Cr O 6%s'38.. Sinc PLG8'42..... Skelly Ol 5 % Sotssons 63'36.... Sou Bell T&T 68 41 SW Bell T 53 A '54. Attt aon o CekEnannwnat 23% 41 56% 1315 32% 40 26'% 10 29% 1% 61 Can Nat 5s July'69. Can Nat 6s Oct '69. Can Nat 5870 Can Nor 4145 " Can Nor 6145 di “an Nor 78 db Can Pac db 4s. Can Pacific 4%s 46 Can Pac 4%s'60. Can Pac 58 ¢4 Can Pac 65 ‘54 CarClin& 06 Cent )11 G&E 58'5 Cent Pac 4s '49. Cent Pac 55 '60 Cert-td db 514 Ches Corp &5 '47... C&Ogen4l%s'9z. C&O4%sB'95... CB&Qgen 4s'53. CB&Q4%s'TT | C B&Q 1st rf 6371, CB&Q I11dv 4s'49. Chi & Est 111 5851 | Chi Grt West 4839. Chi Ind&L gn 5s '66 | Chi M & St P 43 '89. Chi M&StP 4%s E. C M StP&P 63 '75. . CM&StPadjss W gn 4 1&NW 4152037, Chi & NW en 4%s Chi&NW rf 55 2037 Shi & NV 6% 36, Chi RI&P gn 4s '88. Chi R1& Prfas'34 J{chiRrie C TH&S Chi Un {chiu | C& W Ind en 45 {C& W indskss Chile bs 60 “hile 65 '61. Chile 65'63........ “hile Cop db 58 '47. |fcC & StLis D63 Clev Term 4%s "17. Clev Term 58 73. ¢ | Clev Term 5%s 72, | cotomb 6s Jan '61 Colomb 65’61 Oc | Colun O11 63 °38.. . Colo & Sou 41435, Colu & Sou 4%43 '80 ‘[ Col GRE b8 May'52 | Col G&E cou 53 '61. CC Md 1strf58'50. | Cor. G NY 4%s°51. Con G N Y 5%s '45. Con Pwr Jap 6%, . sum Pow 58 '5: o pralrniBallosan~nnn~Sonnan 251y 29% 55 23% Th 26 ] 4 s e 0 2 5 1 55 5100 i S b8 e 1 = 9% 9 % © Jorger busces and. trucks | | WASHINGTON STOCK EXCHANGE QUOTATIONS AND DAY’S SALES ows s RERRISREENED L | Washington Gas 6s “A"—3100 at 10014, | 8300 at 10014, $200 at 100', Metropolitan” (14 Wash 1 Rwy. & b L U. S. Says Favorable Trends | Wasnieton Bes & 2l Bihe, 10 :{ige‘?o'fid”v”i,', Noted in Argentina, Japan | | [ o WOOL SHOWS GAIN DURING PAST WEEK COommercial Bulletin Says Prices Are Stronger With Some Advances. N | District (8) e Fed -Amer. Natl. BK Liberty (7#) Lincoin (10) So1 & T (@) - 12 | TRUST COMPANY. Amer. Sec. & Tr. Co. (15).... Natl ‘Sav. & Tr. (13:) Prince Georges Bk. & Tr. (6) Union Trust (8s) v | Wash. Losn & Tr. i14i SAVINGS BANK. esda (65) & Savings (10) L Washineton (12) & Com. Bk venth Street (12) United States (30) Wash. Mechanics (20) FIRE INSURANCE. a12) 10y 3 @) Z National Union (i3} | TITLE I Columbia (6h) S Real Estate (6h) MISCELLANEOUS. | Barber & Ross. Inc. com Col. Medical Bida. Gorp. ( | Col. Sand & Gravel pfa. ¢ D C. Paper Mfx. pfd Dist. Natl. Sec. pfd, (1) Emer. Bromo-Selz A | Pederal Storage prd. (8 ... Chase Club 37 Fed-Am."Co " com. (1201} . ntry Ci “Am. Co_pld. (6) Cold’ Storage 55 5% | Lanston” Monotype () STOCKS | Mer. Tr. & Stge. com. (10) 5 | Mer. Tr. & Stge. nfd. (1) Mergenthaler Linotype (§) . PUBLIC UTILITY. Batl, Mige. & Inv. pid, (8) les Drug Stores (1 Amer. Tel. & Tel, (91, Real Bst. M4 0. pre 8 02 Capital Traction Co. (4) Security ' Storage (5¢) B Wash. Gas Lt Co. (18) | Ter 'Ref. & “Wh. corp. i3) Steambont (12) | The Carpel Corp. (3) Fower 5 pid ] | SN e o ) e 3 ed. Blde. Corp. (1) & EL ptd. (5) | Wdwd. "& Lothrop com. (1.20) Woodward & Lothrop ptd. (1) NATIONAL BANK. Min ~a Seadluwaaanoarmmiice BeSt 94, 10 at 94, 1 at 942, |* AFTER CALL. Washington Gas €s, Series A—$1,000 at 100'5, $1,000 at 1004, Bid and Asked Prices. BONDS. PUBLIC UTILITY. ... Betsc 3 1 3s 3 3 100 2-32 NS 94, 10 at 94, 10 at 94, 10 at 94, 10 at | Washington and Bulgaria. L SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co) Bid. Offer. Allis-Chalmers Co. 5s 1937..... 86 874 American Chain Co. 6s 1933... 85!z 9l'a American Tel. ‘& Tel. 5'2s 1943. 103 Amer. Wat. Wks. & El 5s 193¢ 92 Baltimore & Ohio 4' 1933 84 Belding Hemingway Go. 65 1936 Bethlehem Steel Corp. 5s 1936. Canadian N Rwy, 4'2s 1935 Chi. Northwestern R. R. 55 1933 Chicago Rock Island 4s 1934 .. Cleve. Lor. & Wheeling 5s 1933 lorado & So. Rwy. 4'as 1935 ercial Credit Co. 5'2s 1935 re & Hudson Co. 8s 1938 Denver & Rio Grande 4!zs 1936 Gen. Mot. Accep. Corp. 6s 1937 General Petroleum Corp. 5s 1940 General Public Service 5'zs 1939 31t Trunk of Canada 6s 1936 Houston E. & W. Texas 55 1033 Humble Oil 5'25 1932.......... Laclede Gas Light Co. 55 1934.. Louisville & Nashville 5s 1937 New York Cent. & H. 4s 1934 New York. Chi. & St. L. 65 1932 Nortnwestern Telep, 4Tss 1934 Penna. R. R. Co. 6'2s 1936. ... Portland General Elec. 5s 1935, Republic Iron & Stel 5s 1940.. Sinclair Crude Oil Co. 5'2s 1938 Southern Pacific 5s 1934,... .. . St. L IMS. Ry. R. & G. 45 1933 Union Elec. Lt. & Pow. 5 1033 Union Oil Co. of Cald. 5s 1935 Virginia Rwy. & Power 5s 1934 Wabash Rwy. Co. 5s 1939. Bid, Asked 68 2% 3l 4. 4% Favorable trends were noted in trade BOSTON, January 15—The Com-| reports received by the Commerce De- mercial Bulletin will say tomorrow partment today from three foreign “There is a much better business inl countries wool this week and prices are showing| Business and financial in st e i with some Sty FEiEA o :M.”.fir]rnacd!:\arr\lru:f rt(‘:x:)(;;:g\ By)—y?rodgrgfl Japan expres ~(dfinp mism !,'r trade and are noticeably dearer. industry in 1932, Thes seid they an- An early Easter evidently is stimu-| ticipate financial inflation in ord® to lating the demand at the mills, which| gyoig gold shipmen This report was cabled to the depart Cons, 5 in turn are taking on fairly good weights of wool, especially of fine and i P ment by Commercial Attache H. A.|y Vernon i, 2 Butts at Tokio. He said 1 decline in nRtor P 9 | half-blood qualities “The foreign markets are buoyant and sometimes against yen exchange has caused an incr buyer in the primary markets, in commodity prices, the whol Iondon keeps on with prices commodity prices advancing 2.7 steady_throughout cent during December. Mohair is dull and prices are hardly| The Commerce Decpa more than nominal. There is some! sentative said the depc business being reported in kid hair in|placed on sale throl a limited way at unchanged rates Specie Bank bonds to the value of $26,- The Bulletin also will publish the | 560,000 and 640.000 pounds sterling for following quotations the purpose of covering contracts Ohio and Pennsylvania fleeces—De-| Commercial Attache A Jaine unwashed. 23',a24: half-blood | Dye at Buenos Aires reported to the de- combing, 23a23'7; three-eighths-blood | partment that the continued favorable Combing, 23a24. one-quarter-blood | weather for the crops which are pass- ing through their critical period and the slightly rising gra ces have combing, 21a22 Michigan and New York fleeces—De- & created & more optimistic atmosphere in Argentina. Jaine unwashed, 21a23: one-half-blood combing, three-eights-blood, 23a | 24: one-q blood combing, 21a22.| Preliminary trade figures for Novem- Wisconsin, Missouri and average In-|ber in Bulgaria show exp: @lana and New England: '» hlood, 20; | 713,400,000 leva and imports at 3 100,000 leva, leaving a favorable trade balance of 361,300,000 leva, the depart- 2, blood 1, blood, 19a20. Scoured basis ment_has been advised. (Leva equals $0.0072.) The trade as compared with October shows an increase of about 3315 per cent in exports, but a decrease of 7 per cent in imports. WESTINGHOUSE HOLDERS GIVEN EXTENSIVE DATA| | Edward ciatio; oL = A B By the Associated Press. e r Q.. 9815 10 1083, 1 73% 3 80 147 147 14 leaders s ctl. tr R. R Tel. & Tel el. & “Tel a & Pot Pot. Guar. 8 Tel. of Va 55 on R. R uburban 5s 5 1st 5% Cons, 57 Wil adBawn o RS RANCE. 0 Bansicilla_Corp Basic_Indu! British Type Inv )i 5 tral Nat DI 99 entury @ Boy fairly the while fairly series B . & Elec. 45 MISCELLANEOUS. Ross. Inc.. 628 “hase Club 51 a3 ment’s bu the Yokohama Hsit w Ci Chelsea Cumulative Tr Sh Corporate Tru: Corporate T Corporate ' Crum & Fo o AL 2 “ 17 937y 28 104% 2 51 0 S 20 108 96 Depos Bk Depos Bk Depox Ins Shrs Diversified Ar A Diversified Tr B Diversified Tr C. Diversified Tr D Equity Invest Equity Inv ® n2Brrn v SeeBon-BaSun~ {Cuba RR 5 Cuba Nor “zeeho 85 '51 " | Del & Hud rf 4s'34. | Denmark 4%s '62 Denmark 5%8 "5 Denmark 6s°42. . Denver Gas 55 51 iy cn 4s'36. D& KGr4'ks’36.. |D&RG Was's DRG& W 5sT8. Det E G&R4Y% 961, Det Edison rf 55'49 Deutsche Bk 6n'32. Dodge Brcl 65740, Duauesne 415 '67. Dutch East I 6547, Dutch East I 65'62. East C Sug 748 ‘37 je 1st con 48°96 Erie gen ¢s Pot. Elec. Wash, Rwy £ Wash. R¥Y @ Sales. High. 15 97 44 80% 4 92 1 68 13 68% 29 36 15 95% Tenn E1 P 63 A '47. Texas Corp 58 '44. . Tex&P 1st 58 2000.. Tex & P53 C'19 Tex & P 55 D '80 Third Av adj 5860 Toho El Pw §3°32.. Toho El Pw 73 '56.. Toklo 58 '52 Tokio 5%s Toklo El Lt 653 Un Pac 18t 43°4T... Un Pac 4 Un Pac rf 45 2003. Un Pac 4%s'67. ... Unit Drg cv 68 '53.. Utd King 5%8°37.. U'S Rub 18t 53 °47.. UnSt W 6ls AT, Ud St W 648451 Ud St W 5%4sC'51. Uruguay 6s°80. Uruguay 8s ‘48 Utah P & L 58 °44.. Util Pw 55’59 ww. Util Pow 5%8'47.. Vanadium St 58'41. Vienna 6# 52 Va Ry & Pw 68 Va Ry 1st 53 '62. Wabash 4%s ‘T8 Wabash 1st 58 '3 ‘Wabash 2d 55'39.. Wabash 53 B'76... Wabash 5s D '30 ‘Wabash §5%s ‘75 Warn Br Pic 65'39, Warn Quin 6s°39., Warner Sug 78’41 Warsaw 78 '58..... Wst Sh 1St 43 2341, West E1db 53 "44.. West Md 48°52.... West MA 5%8°77.. West Pac 6s ‘46 107 *Ex dividend 27, bBooks closed. i n2se extri ¥3% extra. has. Exira, 5% extra. price. Asked 1175 250 375 425 183 200 tal (14) mpia (12} : fal (stamped (10).. e = - Trust Sh Fund Tr Shrs A MORE D. C. BANK Fund Tr Shrs'B . L. Granger Trade Gude Wi Tncorp 1 Incorp Invest Independ Tr Shrs Int Sec G X Sec Corp Am B 2 months 64a56; fine short 12 months 8 months, 46a48. California—Northern, 46a48 gounty, 44a46; Southern, 45a47 Oregon—Fine and F. M. staple, 54a 56, fine and F. M. Pr. combing. 50853 ne A and F. M. clothing, 45a47; Valley No. 1, 48a50. Territory and similar Fine staple choice, 57a58: 2 blood combing, 52a55; % blood combing, 47a 50, !4 blood combing. 49343 Pulled—Delaine, 63265 A. A. fine A. supers, 55a58; A supers, § Mohair—Domestic. good original Texas Spring 23; good original Texas kid, 40a45: Arizona and New Mexican, 19a20; Oregon, 20a21 Domestic graded first combing. 32a 35, good carding. 26a28: Cape Winter firste, nominal, 20a21; Summer firsts, 25: Cape Summer kids, 45a47; turkey fair average, 25 (in bond). ELECT NEW DIRECTORS Bt. Marys Bank Stockholders Hold Annunrl Meeting. Bpecia] Dispatch to The Star. LEONARDTOWN, Md., January 15— With many stockholders of the First National Bank of St. Marys present at the meeting in Leonardtown Tuesday (selected), ed), ington Gas 6s, series A, all sales being t"’;figed :L ls"l“l)bo ’llf'he transfers in- led two $1,000 sales, also $100, $200 and $300 amounts. # : Caption Traction stock stood at 20 OFFICIALS ELECTED | FOR 1932 SERVICE bid and 21 asked today, following the o ghei annual report which came out yester- |day. No sales were recorded. 1 Heard in Financial District. H. Jones, president of the asso- | Harry G. M i in which he called attention to Wnshmyatnn mZ%’"'&"'%fli“‘cé” ;::p the steady growth and progress of the | been notified of his election as treas- association. ~ During 1931 the associa- | urer of the Associated Charitics at the tion's assets were increased more than | recent annual meeting. This office was 80 per cent, the membership nearly |held for many years by the late John doubled, the number of loans was|B. Larner correspondingly increased, while the [ Robert N. Harper, f average amount of these loans was de- | of the District Notional Bank. wa: meen Creased. | The report of the auditor, C. | re-elected a director in the Arlington Vaughan Darby, showed the associa- | Trust Co. Harry R. Thomas, a director | tion’s affairs to be in excellent con- |and trust officer for nearly 20 years dition. has been elected a vice president The o e other officers appear elsewhere in the Charles Schneider Baking Co. Inc., financial section. : resident C. H. : | stachnolders elected John G. Meinberg | . B, H. Siddons of trr it Soretary president and general manager; J. A. | Association are looking for a large at- | Eisenbeiss, vice president; A. Fred |tendance at the open meeting to be held Jorss, treasurer; B. F. Rover, secretary | next Monday evening at the Willara and assistant treasurer. Other di- It is the only session of the kind durl rectors re-elected were John B, Geler, | the Winter sexson. - Henry Troeger, Gertrude E.; Berensand | Dividend checks from the A A H Pitt, Telephone & Telegraph Go. mere. o All officers of the Federal-American | ceived here today, $2.25 per share. The Co. also were re-elected. They are John ' Western Union Telegraph Co. also paid Poole, president; Willlam John Eynon, $1.50 per share today. The Pullman Wilmer J. Waller and William M. Seay{ | Co. has declared a quarterly dividend middle Invest Trustee Sh Leaders of Indust’ A Leaders of Indust B Leaders of Indust Low-priced Shrs Major_Corp Shrs Mass Invest Tr Mutual Iny (Continued From Raren Scoured basis, Montana = o A 44-page analysis of the Westing- .hfl\l\l‘ Electric & Manufacturing Co. is now being distributed by Carreau & Snedeker, members of the New York Stock Exchange. The analysis presents numerous facts and figures regarding the Westinghouse Co. not heretofore generally known and represents one of the most extensive studies of its kind ever prepared by a stock exchange house. Under the title “Ten Years With Westinghouse,” progress of the corpora- | tion in the 10-year cycle which has elapsed since the last tndustrial depres- sion is traced. Special attention is paid to the development of Westinghouse in the electric elevator, shipping, lamp, | radio and household appliance fields as | well as other important branches of the electrical equipment industry. Mutual Man Nation-wide Sec Natl In Natl Tr N Y Bk 1 Nor Am Tr Nor Am Tr | Finland 63 °45. Kinland 78 '50. Fla E Coast 58'74 o [ T PG o - ol STV - | French 78 43. French T%8"41. | Gelsenk'hen 6s'34.. Gen Cable 514547, Gen Motors 6s'37.. Gen Th Eq 63°40. .. German 5%s 65 3 German Bk 68°38.. 18 Ger Cen Bk 637603 2 Ger Cen Bk 6860 0143 Ge-man 7srep'49. 79 German Bank 73 '50 Goodrich cv 68 '45. Good 15t 6%5°47.. Goodyr Rub 68'57.. GrandTr sf db 65'36 Grand Trunk 7s'40. Petrol Trad A Public_Serv_Tr Repres Tr Shrs Second Int Sec Second Int Sec B I o, st p: b Gen %5 pf Selected Am Sh Selected ‘Cumulative Shrs.’. Selected Income Sh Selected Manage Trust Shawmut_Benk Spencer, Trask Fund Stand All Am Tr Stand Am Tr Shrs Stand Collat _Trust State Street Invest Super of Am Tr A Super of Am Tr B Super of Am Tr C Super of Am Tr D S| A 22 3 e R ] ‘Will Confer on Station. | BALTIMORE, January 15.—Officials of the Baltimore & Ohio Railroad Co. s Sou Pac 4%s '68. ents: Charles B. Lyddane, | afternoon at the bank the following di- rector: were elected C. Benedick Greenwell of Medleys Neck, Md.: Dr ¥F. F. Greenwell, B. Kennedy Abell, L. J. Sterling, George W. Joy, all of Leon- ardtovn: Dr. L. B. Johnson of Mor- ganza, Md; George R. Quirk of Cedar have been invited to confer with Phila- delphia city officials on the plans for a new station at Chestnut and Twenty- fourth streets, Economic conditions made it necessary to give up plans for tic new station, it is understood. The Baltimore & Ohio had previously agreed | Point, Md., and Claude E. Guy of Clem- ents, Md., of seventh district, and Dan- el T. Dixon ‘of Laurel Grove, Md., in the sixth district. two new directors . The annual report was read by the eesident, George W. Joy, and approved. to fit its project into a civic plan for improvement of the Schuylkill's west bank. The railroad was to pay $2.000,- mnnd the city approximately $1,900,- .- | vice pre: secretary-treacurer; sictant secretary and assistant treas- urer. Railway Preferred Active. Washrington Railway & Electric pre- | the most active issue on the local exchange today. Ten lots of 10 shares each changed hands at 94, and the market for the stock closed with a single share selling at 94%s. ferred was Bonds trading was Charle: s D. Boyer, | | of 75 cents & share, payable February 15. The past few days have scen a greatly increased attendance in the local board rooms, due to the better tone and ex- panded activity on the New York Stock Exchange. More than 700 sheep were killed by hailstones which fell for an hour untl’) they covered the ground a foot deep in to Wash- the Vall River district of Bouth Africa recentig Trusteed Am Bk St it Am BE A Two Year United Fixed _Shrs s Unit Fdrs 1-70 Com ... United Ins Shrs ... United_Bank Tr U§ & Brit Int Itd Al... U& & Brit Int $3 pf US Elec Lt & Pow US Elec Lt & Pow Universal Tr Bb . Grt Nor 4%s 17 E. | Grt Nor5s'73..... Grt Nor n 78 '36. Greek 65°68.... Hud & M adi 5367, Hud & M rf 5357 Humble Ol b3 '37 Humble O 6% '32. Hungary 7%s’44., 2 534 534 111 Bell Tell 68°66.. 8 100% 100 HICont ¢8'52,voupp § 6T - 65 - a6 441 £0 85 99 100 60 85% 9915 100 531 100 65 22 100% Ik Sou P&OT 4% Sou P 4%s'69 ww. »u Pac 4%s ‘81 7. Sou Ry gn 4s '66. Sou Ry 65'58..... Sou Ry %8 '8 OIIN J b8 SLONN ¥ 43%8'61.. Sweden 5% 54. ... Swiss 534846 3 102% Tenn Cop 68 '44evma 1 637 6915 8214 49 86 69 100% 100% West Union 68 '51. West Unlon 63 0. Wes® Un 6148 '36. . W EO5%s'37 ww. Wilks B & E 1st 5s. Wil-O Lst 6145 '33. Wil & Co 18t 6341, 90 904 80 8214 10214 102% Wis Cent gen 45’38