Evening Star Newspaper, January 15, 1932, Page 15

FINANCIAL. THE EVENING STAR, WASHINGTON, D. C. FRIDAY, JAN UARY 15, 1932 CURB TURNS FRM | AFTER DL START = { ~Prev. 1931. Btock and Sales— High Low. Dividend Ra 19% 1% Agfa Ansco......... 5% Ainsworth Mfg. 73 Ala Power pf (6) % Allegheny Gas Corp. 48 9% 46 1% % " + 1 Ss . 60s 1 Indecisive Opening Becomes Irregular Befare Showing Improvement. BY JOHN A. CRONE. Special Dispatch to The Sta NEW YORK, January 15.—Opening ndecisively, today’s Curb Exchange session developed an irregular tone dur- ing the forenoon, but showed signs of firming shortly after midday Public utilities, like Electric Bond & Bhare, American Superpower, Hydro- electric sccurities and United Light & Power A, were off fractionally during the first two hours. Cities Service, | which was quoted ex-dividend today was virtually unchanged. Standard Oil of Indlana and Standard Oil of Ken- tucky pointed highe The opening tod the easier tone of especially London, where a fortnightly settlement was being carried out. Al- though the strength of sterling cheered British bankers and brokers, they did not view with equanimity the French insistence that German short-term credits be extended for 30 wstead of 90 _day Increased sales at the _Automobile Show failed to cause a reiumption cf | the advance in motor stevks, though | they remained firm at times when other | shares eased. Brazillan Traction and! Mohawk Mining maintained their levels because of the reguler quartrely com- mon dividend declarations Ttalian Superpower A was up frac- tionally following the 1931 earnings statement showing net profit of $1,204,- 221, after expenses, charges, Federal taxes and interest loss on sale of securities, which contrasts with §1,243.- 540 in 1030. Nevada-California Elec- tric ignored the announcement that & subsidiary, Imperial Ice & Development Co., which supplies the Imperial Valley territory, had signed a 15-year 'contract with Pacific Fruit Express to furnish it 250,000 tons of ice annually. The recent market behavior of Glen Alden Coal and Lehigh Coal & Naviga- tion discounted the report today that! anthracite shipments last month to- taled 3,750,217 tons, a gain of 439,459 over November, but a decrease of 1,120,840 from December, 1930. British-American Tobacco B made Duval Tex Sul wi the best showing in that list. Emil D, Fast Sta Pow (B). Klein Co. paid the regular preferred ) Fast Inv A dividend, and action on the common st Utl] Assoc cv. . will be considered on January 28. Elec Bond&Sh (b6%) President Ellis of Phillip Morris,” Con- Elec B & Sh cu pf 5.. solidated, Inc., said that increasing | Elec B & Sh of (§). rofits assure continuance of the regu- | Elec Pow Assoc A (1) ar dividends. Weitt & Bond A was | Elec P & Lt op war. u) point Emplre Pwr pt( Atiantic & Pacific Tea was | Europ Elec deb rt inactive, though action of the stock Eideton Metals Thursday indicated it had discounted | RiihivotdCok the sales report for the five weeks ended | Ford Motor Car A January 2, showing a decline in dollar | Ferd Motor Cah B, sales of 8.7 per cent, but an increase in Ford Mot Ltd 36 3-5o tonnage sales of three-tenths of 1 per | s l'heater TAY LS cent = Pittsburgh & Lake Erie cased in carly | frencinensig cvipt afternoon. Previously Pennroad Corpora- | ol Biche: . tion showed a smell loss on increased Tt e s () offerings. Lackawanna Securities, how- e bt g e black ot 1000 sheres of Lone Star SAIKClicr tenan lock of shares Gas appeared at 8 Off 3, which | g“:‘m;(f‘:r L:"'gc) started some activity in the natural gas | H:fnzt H".:’d‘”“) group at midday. A. O.Smith Corpora=| etk s L tion and Cooper Bessemer inclined | e ) toward lower levels. Dennison Manu- | e facturing Co. omitted the gquarterly . x fies> dividend of §1.75, due on the preferred {mp Oil of Can (50¢) but this act'on had no immediate effect | Imp O Can reg (50¢) . on the stock | 21 Indiana Pipe Line(1) Electric Bond & Share started off on Ind Ter [1u Oil B... 2 3.000 share deal at 1255, up a shade. | Insuil Inv 'flhfim . American Superpower was unchangcd Insull Gl 2d pf (6).100; snd so was United Light & Power A Imatonyics ooy, Cities Service, exdividend, opened at | Int Hydro cv pf 3% 6':. Standard Oil of Indiana gained tac Zt““'fi"::'gm- fraction at 16 B.. * Tndustrials were mostly lovyr. Alumi- inienstaie Efl"ll'fl-r num Co. of America at-56%s was off | In’state Equity cv p ! 2 po! i & Interstate Pw pf(7). nearly 2 points and A. O. Smith at| : - t i tallan Superpow A . 577 lost a point. American Cynamid lixling Paperven B. St. Regis Paper and Swift & Co. | alian Super deb rts were uncranged. United Gas opened | Klein (DE) Co (1).. unchanged at 233 and then gained a Lackawanna See!(4) small fraction. Ford Motor of Canada Tale SLOE MHes 43) A was unchanged at 11. Cord was firm Leh Co & Na (1.20) .- Lone Star Gas n 88c. Long Island Lt (60¢) Louisiana Lan & Ex. Magdalena Synd. ... Mapes Cons Mfg(t4) Matis Bottling (A). Mead Johnson (15) Alum Goods (1.20).. 2 AmCigarCo.... AmCit Pw & Lt B, Am Com Pow A Am Com Pow B Am Corp war. . Am Cyanamid B. Am Dep Strs 1st pf A Am Equities........ Am For Pow war.. Am Founders. .... Am Gas & Elec (11). Am Maracaibo. Am Bupsrpower Am Superp 18t (6)... Am Util & Gn B vte.. Appalachian Gas Arkansas Nat Gi Arkans Nat Gas A . As<0G&EL (A) b5 % . At] Secur Corp. Atlas Util Corp. Atlas Utilities war Auto Vot M Co pr pt. Blue Ridge Corp.. .. Brazil Trac Lt&P(1) BritATcou B 1.13 3-5 Brit A T reg 1.13 3- Buckeye P L (4). Buff N&EP pf (1.60). Burco Inc war.. b Cable Radlo T vtc. Cable & Wire B rets. Canadian Marconi. Carib Syndicate Carnation Co (1 Cent Pub Sve A bo % Central States Elec Cheseborough (165 Citles Service (x30c) Cities Serv of (§) Cit Sy P& L pf (7).. 5 Colombia Syndicate. Colon Ofl. Col Oi1& Gas vic. Commwlth Edison (8175: Cmwith & Sou war. Comstock Tunnel Consol Auto Merch Con Gas Balto (3.60) Contl G&E pr pf (7). 1058 Cooper Bessemer. ... Copper Range Cord Corp..... Creole Petroleum Cresson Consol Crown Cent Petrol . Curtiss Wright war. Darby Petroleum Deere & Co. . De Forest Radio..... Detroft Alrcraft..... Duquesne Gas. . Durant Motor: was influenced by overseas markets, p 21 Great 108 1 1 1 1 1 1 5 3 23 3 BONDS ON THE CURB MARKET. TIC BONDS. | 86 Everybody’s Business Americd's Huge Stake Abroad Means That Aloofness to Debtors Is Fraught With Danger. BY DR. MAX WINKLER. NEW YORK, January 15 (NANA). —No intervention in any way to aid in 3'2 | the settiement of Europe's problem will €'\ be the program from now on of the #% |administration in Washington. The President Is understood to have inti- | mated that he is going to devote his 53 |entire time to domestic problems, which 94 | have assumed such proportion &s to 0., | merit his undivided attention. This is no doubt a very laudable move on the part of America’s President. One night, however, inquire whether it is quite so simple for the United States to withdraw now from world affairs with impun It must not be ‘Iu!i{u\‘wn that America’s stake abroad— that is, American investments in for- | elgn countries—totals almost . $18,000,- 000,000, or well over $140 for each man, woman and child in the country, and | that a policy of aloofness now is fraught with some danger. It might not have | hurt the Nation had such a policy been | enunciated before the United States % |assumed the role of playing the world’s | banker. : Somewhat more encouraging Teports 3's [are emanating from the steel industry. g1+ | The improvement is attributable chiefly #9%1 | to the ‘increased requirements on the « 10474 | part of automobile manufacturers. 5 Business Leaders Optimistic. In the Youngstown district the Car- negie Steel Co. is operating slightly un- der 40 per cent of capacity, as com- red with less than 30 per cent in the | last two eks cf the past year. Tie | figures <till are appreciably below last ar this time, when the Carnegie com- v wis operating at 50 per cent. Confidence in the immediate future business is expressed by L. P. Fisher, esident of the Cadillac Motor Car Co. Mr heavy attendance at the automobile show as an indication of greater sell- 42 48 36 66 34 97 # 60 8 8 N B 6 60 5914 ZZREE 222 50 84 | |son. Several manufacturers have an- » | nounced appreciable gains over the cor- 2114 | 2434 | sition Traffic soon will start on the upward curve, accordifg to Fred M. Sargent, president of the Chicago & Northwest- |ern_Railway. | "The traffic of his system, he con- | tinues, is so well diversified that when BONDS, | one class fails another class makes up | the deficiency. Last year. however, the road suffered from loss of all kinds of FOREIGN | but mining and manufactured products as well. This situation, according to Mr. Sargent, is not likely to happen again. 1Btinnes 7s 46 xw FE—With warfants ZW—_Without warrants, B—New wi—When lssued, try may be viewed optimistically, says 4 In 100-share lots exeept those desigmated by letter “s." | ~Prev. Add 00. Open. 26 6% 84 Aluminum Co of Am 15008 56% 101 Fisher interprets the exceptionally | ing possibilities during the coming sea- | [ 18'; | responding period of last year's expo- 431 | trame, nct only agricultural products | The outlook for the aluminum indus- | NEW YORK CURB EXCHANGE Recelved by Private Wire Direct to The Star Office. Btock and Dividend Rate. Met Chain Stores. .. Midl Sts Pet vte. A. MIA West Ut (b8%). Miller (I) & Son: Mo-Kan Pipe Lin Mo-Kan Pipe L (B Mohawk Mining (1). Moss Gold Mines. ... Mountain Prod (80c). Nat Aviation Nat Fuel Gas Nat Investors. 5 Nat Pow & Lt pf (6). Nat Pub Sv A (1.60). Nat Pub Sv pf (7 Nat Rubber Mach Nat Sh T Sec A t60c. Nat Sugar NJ (2)... Neptune Meter A1.20 Nestle Le Mur. . New Bradford 01l New [ing Pow pf (6) New Jersey Zine (2) . Newmont Mining. .. N Y Transit (70c) ... Niag-Hud Pow (40c) Niag-Hud Pow A w.. Niag-Hud Pow B w.. Niag Share(Md) 20c. Niles-Bemt-Pond (1) Nitrate Corp Chile B. Noma Elec (40¢). . Nordon Corp Ltd. . North European Oil Nor St Pow A (8).... Novadel Agene (4). Ohto Copper........ PacG & E 15t pf 1%. Pac P S new pf(1.30) Pac Western Ofl. . .. Parker Rust P'rf (3). Pennroad Corp 40c) Penn Pw & Lt pf (7) Sales— Add 00. Open k. i 1 i 1% Low. Close. L3 1t 6 2 L High. High Low. Close | 4% 2% 2w 2% 615 6l 84 83% % 59 6k 10 10% 116 | 1% 6 s 1% 41 1 * 2 e T L L L It TUT S JUPCTETOTT -y 50 ake Erie(5) 150 ymouth Oil (50¢) . Prudential Invest Pub Sve,NTllnp(8). Pub Utll Hold xw... Railway & Lt § Reiter-Foster. Reliance Int A Republic Gas Corp. . Reybarn Co. Reynolds Invest. ... Roan Antelope Min Rossia Intl Corp. 214 St Regis Paper Salt Creek Prod (1). egal L & Hdwr..... Secu Corp Gen (40¢). Selected Industrie SleIndalctfs(5%).. Sentry Safety Cont,. 9 Silica Gelctfs...... 1 Smith (A. 0.). 110s South Cal B pf(11) 3 Sou Cal Ed pf C(1%) 5wl 0. Union ( outhld Royalty 20c. pleg May Stern pf tand Motors Stand Ofl of Ind( 1) Stand Oil of Ky 1.60. Stand Oil Nebr (2) Stand P& L (B) (2). Stand P & L pf (7)., Stein(A)&Co (1.60) . tinnes (Hugo) tutz Motor Car. Sunray Oil. ... Swift & Co (2) Swift Internat’l (+4) 1V Gold M Ltd(4c) Tech H (80c) Tenn El P 1st p£(7). 5 Texon Oil&Land (1). Tob Prod of Del w Trans Lux DL PS.. Tri-Utilities = Un Gas of Canada(1) Unit Corp war Unit Founders. Unit Gas Corp... Unit Gas Corp wa Unit Gas pf (7)..... Unit L& Pw A (1).. Unit L & Pwr pf(6). U S Elec Pow ww... U S Foll (B) (50¢). U S & Intl Secur. . U S Inter Sec1st pt Unit Stores v.t.c..... Util Po & Lt (b10% ) Utility Equities 2 Util Equity pf(5%). 1508 Util & Ind .. i Van Camp Pkg pt 1 Waitt & Bond A 1 Welch Grape J (1).. 258 Wenden Copper 27 W Va Coal & Coke 2 Wil-low Cafeter 3 WIwthFW Ltd 21 RIGHTS—EXPIRE ComEdisonFeb1... 11 1% 1% 13 1% Dividend rates in dollars based on last quarterly of semi-an- nual payment *Ex dividend. ftPartly extra. IPlus 4% in stock. a Payable in cash or stock. bPayable in stock. e Adjustment dividend. {plus 5% in stock. & Plus €% in stock. hPlus 1% in stock. {Pfus 2% in stock. kPlus 10% in stock. m Plus 3% in stock. nPlus 8% in stock. D Paid last year—no regular rate. hes S 8% ey % the nineteenth consecutive week. Federal Res The ve Bank of New York re- ports that I dropped $5,000,000 to a total of $563,000,000, the lowest figure since February 1, 1918. Loans made by member banks' for their own account declined $17,000,000, loans for “others” were down $1,000,000, while loans for the account of out-of-town banks were up $13,000,000. The Companies. Amoskeag Manufacturing — Parent company, Amoskeag Co., declared $1 common ' dividend; paid $1.50 July 3, Pre 1931, General Motors- aping for pro- ted refrigerator. Co.— Deflcit six duction cf gas-ope ember 30, $1,950,940 vs. of the Aluminum Co. of America. The reason for this view besides, is the fact that diversification of the use of the product has been car- ried so far that whatever industry feels prosperity first, aluminum in some form will be required, and the aluminum in- dustry should benefit accordingly 1f “the United States, this official continues, is to go back on a construc- ticn basis. aluminum is ready to take advantage of that situation with newly | developed aluminum‘architectural forms | for building purposes and with alumi- num strong alloys for new machinery, transportation, equipment and plan ex- pansion in many fields. Another year should see the sugar business cut of the woods, says Thomas L. Chadbourne, author of the plan for the stabilization of sugar. The reason for the alleged failure of the interna- tional agreement concluded in Brussels last May may be ascribed to the seri- ousness of the business depression, which was never expected at the time of the agreement. As a consequence there is still more sugar available than the world is buying, despite all the| export limitations which were imposed and the ¢ reductions which were made Mr. Chadbourne is quite certain that further limitations will be made upon both expert and production, and that the plan bes his name will attain the purpose for which it was eflected Buigaria has just sent out an S O S. She is unabie to meet service on her external obligations. Hungary has set of dubious distinction. follow. So may the re- 3 countries, The only Bulgarian obligations sold in the American market are loans which were sponsored by the League of Nations. It will be recalled that Hun- gary’s moratorium did not apply to the Leegue loan. The same may be true of Bulgaria gronglands retail business showed a Irop of only 6 per cent as compared with 1930, says 'Gorden Selfridge, jra head of dge & Co. of London This showing s substantially less than has been generally anticipated Onc thing be borne in mind, and this applies not merely to Great Britain but to the United States as well The past vear was in many respects abnormal, and 1932 re| ts need not 7‘2’\:_:&8;;:5(&“&;?:;" Pm) ;(‘{dm' to compare layor like periods of last | (Copyrignt. 1932, 1y Newspper Alllince an official Grigsby - Grunow months to } deficit $358 Morris (Philip) & Co., Ltd.—Presi- | dent states indications are regular | dividends of company will be continued. Sinclair Consolidated Oil—Subsidiary, cuts tank-car gasoline price ';-cent a gallon on Atlantic Coast. Abitibi Power & Paper—Fort Wil- liams mills resumes; closed for over a » Baldwin Locomotive Works December consolidated bookings, $1.058,000 vs. $2.- 901,000; 12 months, $22.6: 00 vs. $35,- 900,000 December consolidated ship ments, $1.424.000 vs. $4,351,000; 12 montns, 74.000 vs. $58,521.000; unfilled orders December 31, 1931, $8 390 s. $9.334,000. November 30, 1921, and $8,500,000 on December 31, 1920 Bangor & Arostook Railroad has arranged with officials, clerks and shop- men to take 10 per cent cut in pay. Dominion Steel & Coal. output, 3,874,311 tons vs. 4,064,937. Foster Wheeler Corporation—Unfilled orders currently about $4,000,000. Fuller (George A.) Co.—Work exe- cuted in 1931 totaled more than $22.- 000,000; work to be done on unfinished contracts as of December 31, 1931, totaled $38,000,000 vs. $33,000,000 on unfinished contracts at end 1930. Neaticnal Lead—Newton Die Casting subsidiary business sold to Dochler Die Casting Co. & Phel} Dodge Corporation—Produc: ing 8,500,000 pounds of copper monthly Jower output expected to add 1 cent a pound to costs. 'Atlantic Securities Corporation liqui- dating ue Decembper 31, 1931, $47.30 a preferred share vs. $76.61 December | 31, 193 bought in 6454 shares pre- ferred stock during 1931 at average st $27.6.2 wzy:rs (A. M. Co—Pipe mill opera- tions averaged about 25 per cent of CORPORATION REPORTS | capaclty during past fiscel et 400 | drivers strike for lower service chafges e | “ Goodyear T. & R.—Devon Mflls steps S erations 25 per cent. CANTEETONDF | | Paprerican Butopean Securities—Net d psset value, December 31, 1931, $4.59 8 By the Assoclated Press. | cemmon share vs. $28.60 December 31, | NEW YORK, January 15—Tne fo1- | lowing is & summary of important cor- | poration news prepared by the Standard Statistics Co., Inc, New York, for the | | Associated Press: [ News Trend. In the face of a rising market brokers’ loans showed a decrease for maining rth Inc.) American TRENDS AND LEADING OR: Nati 1 Service Cos.—1931 sales of ('lri"(,;?nb,?l cubsidiaries exceeded 25.000.- 000 gallons vs. 13,264,415 gallons in 1930 Naumkeag Steam Cotton—Cuts wages 10 per cent. Eg(;tern Utilities Investing—Declared $1.50 quarterly dividend on participating preferred stock; formerly paid $1.75 quarterly. Al “| Chickens, ™| to plain, 1931 coal | MAGAZINE ADS CUT 16 PER CENT IN 153 Only Two of 23 Classifica- tions Record Gains, Accord- ing to Report. T 1 BY CHAS. P. SHAEFFER, Associated Press Business Writer. National magazine advertising in 1931 amounted to $166 864, a decrease of 165 per cent as compared with the pre- vious year. A calculation by Dorrance, Sullivan & Co. reveals that two of the 23 main classifications recorded gains for the year. These were the confectionery and Soft ‘drinks group, which gained $128,- 409 to $4,256.487, and the soaps and housekeepers' supplies, which increased $561,550 to $10,612,808. The media con- tained in the calculation includes 48 standard, flat, general and class maga- zines, 14 women's magazines and 16 weeklies. Drugs and tollet goods are the most lucrative field for national magazines’ advertising, accounting in 1931 for $33,- 267,433, or about_one-fifth of the total for all groups. It was pressed by the foods and food beverages group with a total of $28,746,262. Next in line was the automotive industry with a total of $17.648.165, followed by the house furniture, furnishings classification with a total of $12,025521 and by soaps, housekeepers’ supplies with $10.612,808. Other leading classifications included | cigars, cigarettes and tobacco ads amounting to $6,353,494. building ma- tertals to the extent of $6.349,610. travel and hotels, $5.156,450: clothing and dry goods, $4,509.753! lubricants and pe- troleum products, $4,899,008: stationery and books, $4,142562, and schools, camps and correspondence courses, $3 379,574. Shoes, with which is included all leather goods, was one of the least fa- vored groups, with a total of $1,756,323 | expended during the year. Baltimore Markets BALTIMORE, Md, January 15— White potatoes, 100 pounds, 75a1.10; | sweet potatoes, bushel, 40a60; yams, ! barrel, 1.00a1.50; beans, bushel, 150a 2.00; beets, per 100, 2.80a3.00; brussels | sprouts, per quart, 10a20; cabbage, bushel, 40a60; carrots, per bushel, 1.00a 1.10; caulifiower, crate, 1.25a1.50; celery, | crate, 1.50a2 50; onions, per 100 pounds, 3.0024.00; peppers, crate, 1.50a2.50; | spinach, bushel, 35a90; squash, bushel, 1.5022.50; kale, bushel, 35a45; tomatoes, | crate, 1.0023.25; eggplants, crate, 1.50a {250, turnips, hamper, 15a25; cucum- | bers, bushel, 3.00a4.50; grapefruit, box, {1 apples, bushel, 35a1.50; oranges, box, 2.25a4.00; strawberries, | quart, 20a25. Dairy Market. young, 18a22; Leghorns, | 15a18; old hens, 16a22; Leghorns, old, | 17a18; roosters, 14a18; ducks, 12a23; | geese, 14a18; guinea fowls, pair, 25a50; turkeys, 16a32; pigeons, pair, 20a25. Eggs—Receipts, 1,662 cases; current | receipts, 18; nearby firsts, 19; South- ern firsts, 18. Butter—Good and fancy creamery, 22a26; ladles, 17a18; process, 20a2 store packed, 13. Live Stock Market. Cattle—Receipts, 1200 hea : et dull and lifeless. —Choice to prime, none; good to choice, 6.75a7.50; medium to good, | 525a6.25; fair to medium, 4.00a5.00% plain to fair, 3.50a4.00; common to in, 3.00a3.50. Bulls—Choice to prime, none; good to_choice, none; medium to good, 4.00a 4.50; fair to medium, 3.50a4.00; plain to fair. 3.25a3.50; common to plain, good 3.00a3.25 Cows—Choice to prime, none; good | | to choice, nore; medium to good, 3.75 | 24.00; fair to medium, 3.25a3.75; plain | | to_ fair, 250a3.25; ccmmon to plain, | | 1.50a2.50. Heifers—Cholce to prime, receipts, | none: good to choice, 5.00a6.00; medium | | to_good, 4.50a5.00: fair to medium,4.00a | |45!), plain to fair, 3.00a4.00; common 2.50a3.00 Fresh cows and | springers, 30.00a60.00. Sheep and lambs—Receipts, 150 head; light supply; market stead sheep, 1.00a3.00; lambs, 4.00a7.35' | Spring lambs, none. Hogs—Receipts, 800 head; ply; market steady; lights, heavies, 4.5024.85: medium, roughs, 3.25a4.00; light pigs, pigs. 4.75a5.15; trucked hogs, Calves—Receipts, 50 head: ply: market steady. Calves, | extras, none. fair sup- | 4.75a5.0 4.9085.15 45024.90 | none. Hay and Grain Prices. | Grain wheat—No. 2, red Winter, spot, domestic, 59'=; January delivery, 5915 ; February delivery, 604 Corn—No. 2, yellow, spot, domestic, 43a44; cob corn, new, 2.00a2.10 per barre! Oats—No. 2, white, domestic, 3583514 No. 3, 341:a35. Rye—Nearby. bag lots, 40a45. Receipts, none. General hay | market continues quiet under ample re- | ceipts of timothy, but good mixed hay scarce and bringing a premium. Prices | range from $12 to $16.50 as to grade | and kind, with only choice clover mixed bringing top vals Straw—No. 1 wheat, $8.50a$9.00 per | ton; No. 1 oats, $9.00a10.00 per ton. DIVIDENDS DECLARED NEW YORK, January 15 (#).— | Extra, Pe- riod Pay- able. Feb, Hidrs. of { Company. record. New Eng Stamford T (Conn) Ra Trust....15 1 1 Jan. 51 Initial $1.50 Reduced. nadian Conv Ltd 50c Q alker pf s175 ¥ Feb. 1 Jan. 25| i Seneral Capital Feb, Jan. 15 5‘0’ Smith Aer Chem 12tic . Feb. 1 Jan. 31 i | 1 Liauidating. | Equity_Corp 31 Do "pt 550 Niagara Arbitrage.t2.50 Jan. 20 Accumulated. 6c Stock. 407, Omitted. Equity Corp pf Jrand Rap Var Deferred. 3¢ @ Jan. 1! Regular. e Rate. riod Pay- able, Hldrs. of record. Jan Dec Feb, Dec Nov. Bunte Bros Do’ pf Capital ‘Man 2 Congole Nairi' 'pi §1.75 | Cumb Co P&L pf.$150 Daston P&L_pf....50c Dictaphone Corp pf. 32 East Thea Ltd.....50c Horne (Jos) Co pi 3150 Hotel Statler Co.3135 Do 77 SRR Do 6% 'pf 3Tise Met Stor Whie. .31 Neon Prod of W Can Ltd 67 pf .75¢ N Eng Grain Prod OIVA. plows New Eng Trust... Pac Gas & Bl 67 Bt . s Do 51,7, pt portland R R (Me) ! Seaboasd Surety Selby Shoe Do p{ 5 Smith Agri' Ch pi.§1.50 So_Side Bank & Tr (Scranton) ... 75c i | more. Spitzer Pr Inc pt.ilac Stamford Tr Co (Conn)’ .. 583 Toledo Trusi Co ' $1 Van De Kamps Hoiland Du B 3650 pf.$1.63; Wico El Co 8% wase PO DO OO LOOOM DO WO O POLLPOOZOL: O PO FINANCI AL VEGETABLE SHIPMENTS GAIN SINCE BEGINNING OF NEW YEAR| Season‘s 011 tput to Date, However, Still About One-Sixth Below That of January, 1931. Shipments of fruits and vegetables are beginning to increase again after the dullness usual around the first of the year, but daily recelpts, according | to reports by the United States Bureau | of Agricultural Economics, are still only | about 2,000 carloads and the season’s | output so far is less than it was a year ago by about one-sixth. Business d pression continues to affect both volume and prices. The general list compares unfavorably with market value as quoted a year ago except on onions, cabbage and lettuce, and even these special lines which have been influenced by crop shortage or de- | lay are not all showing the market strength noted earlier in the month. mid-January found prices irregular, but holding well on_ potatoes and onions Lettuce shipments are increasing and | prices weakening. Cabbage tends lower because of irregular quality of old stock and the increase of Southern shipments. Other lines of produce show no distinct change in_trend. | Recent liberal supplies of low-priced strawberries from Florida were the re- sult of warm weather which hastened the crop in that section. 'Strawberries are likely to be abundant the coming season so far as acreage is concerned. although the increase of 13 per cent compared with last year does not bring the total up to the large area planted to the crop several years ago, but in the late-shipping Northern and Western States the bearing acreage is consider- | ably larger than for many years past. Onion Prices Hold. Action on the onion market has been an interesting feature because of the long continued strength in contrast with frequent price declines in many other directions. Since the first of the month city markets and the producing sections have reported numerous gains and prices have doubled since October. Rather heavy shipments toward the middle of this month have limited de- mand at shipping points, but holders report no price decline, and the tend- ency still appears upward. Average at chipping stations East and West is somewhat above $2 per 50 pounds for the yellow varieties and variations from that level are mainly according to siz and condition. In some dis{ricts pres- ent shipments represent orders booked ahead and the fulfillment of January delivery contracts. Much of the cur- rent supply includes many undersized onions. Like most lines of storage holdings this year, anions are showing early mi- turity and considerable shrinkage. The largest size grown from best seed are reported keeping with only normal shrinkage, and such stock, no doubt is being held in considerabie quantities for the further price ad-| vances, which some holders are confi- dently expecting during closing months of the season. Trade estimates on which such opinions are based indicate holdings available for shipment not very much more than half those of a year ago. The total carlot output of onions trom the late crop this season is 5,000 cars under that of last season to date. The early Southern crop, which reaches Northern markets in the Spring. has been liberally planted this ye:r, but a considerable part of the Texas crop is likely to be late on account of weather conditions. Imports as yet have not amounted to serious competition. In fact, receipts from foreign countries at times have been exceeded by shipments of domestic onions to markets in Latin America and the Philippines. Prices of onions at New York and Philadelphia the middle of January were still advancing slowly. Nearly ail leading markets report moderate sup- plies and.slow demand, but steady or stronger price conditions. Track hold- ings in the large cities have shown a tendency to increase so far this month, and shipments are fairly liberal from New York State and the Middle West, but light from other sections. Boston reported heavy supplies and prices 5-10c lower. Baltimore market also weakened. White onions snow an ad- vancing trend and the same is true of Spanish onions in some markets. | Potatoes Fairly Steady. Prices of potatoes at Eastern ship- ping points were holding fairly well near the middle of January, retaining part of the small gains reported early in the month. The weak feature was 2 tendency to increased shipments from most producing sections, tending to correct the comparative short holdings on track at city markets. Demand is fairly good at shipping points. Prices hold around per 100 pounds for sacked stock in Western New York. This package has been more prominent this season than the 150-pound sack. Prices to growers are around 25-30C | bulk per bushel, but recently the 30c | figure has been more in evidence. The shipments continue to receive a fairly | wide distribution. Midwest shipping points report quiet, fairly steady con- ditions. Maine shippers have been able to hold the recent advance of about 10c and sales have ranged 50-53c per 100 pounds at shipping points. Results of the attempted regulation of market sup- | plies in Maine producing sections is still uncertain. Progress of this move- ment will no doubt be reilected in tone of markets in some other parts of the country. The mild, open Weather this Winter has left the roads open for motor travel and the volume of potatoes moved by truck have been quite heavy. | Prices of Maine potatoes in city mar- kets show a somewhat frregular trend, but general jobbing range remains about the same at $1-1.25, although Washing- ton and some Southern markets report- | ed tops above that range. New York round white varieties sell in Baltimore and Pittsburgh at $1-$1.05. Pennsylvania stock sells mostly below $1 in Balti- Midwestern markets are about steady and,prices on sales for March delivery hold nearly unchanged at Chi- | cago. Sweet Potatoes Irregular. The market for sweet potatoes shows clightly irregular trend of prices and there are few gains except on certain lines of Eastern stock from storage houses. Receipts are liberal at New York but moderate elsewhere and de- mand is dull in Eastern cities. Virginia sweets of the Jersey type bring 40-60 STOCK AND BOND AVERAGE STOCKS. 50 Indus'rials. Today..... . €88 Previous da Wi ago.... Month ago. . Year ago.. Three years ago. Five years ago High, 1931-32 Low, 1931-32 High, 1930 Low, 1930 High, 1929 Low, 1929 Today..... Previous da Week ago Month ago. Year ago. Two years ago Three years ago. High, 1931-32 Low, 1931-32. High, 1930 Low, 1930 High, 1929 Low, 1929 (Copyright. 1932, Stan | sections cents per bushel in New York and 30- 40 cents in Philadelphia, while Wash- ington quotes some stock as high as 75 cents. New Jersey sweets range 40 cents-$1 in Eastern markets. Mary- land and Delaware stock follows a job- bing price range of 40-75 cents. North Carolina Porto Ricans are quoted at 75 cents-$1.10 Cabbage Lower. Prices of Eastern cabbage have not been holding all of the recent ad- vances in Eastern markets and produc- ing sestions. Demand seems to be low at all Northern shipping points. One reason is that supplies of Southern cab- bage have been increasing quite rapidly and are now becoming greater receipts of Northern stock. quality of some Northern cabbage is rather wasty and irregular, the arrivals from Texas have met favorable recep- tion by the trade. Old cabbage is re- ported in limited supply at Boston but | moderate to liberal elsewhere. New cabbage is also in moderate supply. Prices declined $1-s2_per ton on old stock in bulk in New York, Boston and Philadelphia, but were about steady in other larg Eastern cities. Eastern New York shipping pgints quote about $2 under recent priceS. General job- bing range in the East is $16- per ton and 70 cents-$1 per 100 pounds. New cabbage is holding prices well. Carrots in Demand. Following indicated shortage in hold- ings of Northern carrots, strength of the market has been conspicuous this month. The movement from producing is still confined almost ex- clusively to holdings in dry storage stock in 100-pound sacks which have been selling in the Rochester district at $1.15-§1.25. Some growers were re- ported receiving $20 per ton in bulk, contrasting with ruling price of $16 earlier in January. Prices in New York, Boston and Philadelphia reacted a little from their highest level and combined quotation during the middle of the month was $1-§1.30. Michigan carrots have appeared as far East as Pitts- burgh, Philadelphia and Eoston Most of the Northern celery ing from storage is g truck Daily carlot movement has been light Sales at Western New York shipping points have held between $ 75 per two-thirds crate. Supplies {from Flor- ida and California are now leading mar- ket features. Shipments from Florida have been more than double the cor- responding time last season. New York 50a$1.75 in most East- but reached $2.25 in Wash- v mov- ington fairly active. Prices of Southern celery are declining. Apple Prices Irregular. The apple market continues to sho little way. and mainly according the different consuming markets. Dur- than ¢ Since the | Receipts of celery are moderate in most markets ard demand is slow to dence of a definite trend either | Gains and losses are numerous | entrusted to financial institutions again. to varieties and | In 12 States building and loan associa- BUILDING AND LOAN OUTLOOK IS BRIGHT Payments by Borrowers on Homes Surpass Best Expectations. By the Associated Press. CHICAGO. January 15.—Increasing investments in some sections, plus & steady flow of repayments on mortgage loans, have led the Nation's building ‘and Joan associations to anticipate 1932 ireceipts which will compare favorable | with more prosperous years. Summaries of January 1 reports from |25 State leagues of building and loan associations, made public today, show that loan payments by borrowers on homes “have held up better than the most optimistic leaders in the business had hoped for.” The United States Building and Loan League, representing 44 State leagues whose 7,500 associations handle more than 80 per cent of the Nation's $9,000,- 000,000 building and loan business, says money receipts indicated by those year end summaries “set the 1932 stage for a marked revival of business con- fidence.” Investments Increase. Activities of small investors, the | league believes, will largely gauge the | speed of business this year. {,, Large building and loan associations in such States as New York, California, | Tllinois, Colorado and Maine have re- { ported ‘that money invested with them | since November 1 shows a decided in- crease over amounts invested for similar periods during the first nine months |of 1931 Building and loan associations gen- erally, the league reports, are confident that 1932 receipts from new members will be greater than in 1931. The vol- ume of new shareholders joining asso- ciations in 1931 points to a gain in total ! memberships over the figure at the end {of 1930, when building and loan in- vestors exceeded 12,350,000 Associations whose business is finan- cing homes, the league points out, have entered the new year standing on their own feet, with freedom from obligations to banks in most cases. | “In a few areas associations have money than the demand for home loans will use up,” the league reports. “We find generally that where there have been no upsets in other financial institutions, building and loan business” appreaches normal with new money coming in and some mortgage loans be- ing made. Loans for remodeling houses are a substantial part of the present loan demand " Expect Bigger Savings. “More than 80 per cent of the people who work for a living are still drawing wages and salaries. Their lving ex- | penses do not use up all their income, | and this year more than last they will save something. “We already have signs in several quarters that hoarded money is being i !tions have taken in large rolls of cash ing the first half of January thore was!and old-fashioned large-sized currency. a slight upward trend on standard cold | storage stock at Eas ping points tions were rather heavy especially from Virginia and New York. There is a_fairly good Greenings of large size fruit is comparatively scarce this season. Baldwins from cold $1 for best stock trict, and brought_$1.25. range 45a70 cents per bushel in carlots. Bulk_shipments of breught 65a75 cenis per Eastern Baldwins are quoted at $1.10 per bushel on_jobbing lots in large Eastern markets. Eastern Stavmens of good grade bring 75$1.25. Grimes are offered. but these bring 60a 75 cents. Romes sold at 85 cents in Pittsburgh. Eastern Yorks br a80 cents in four large m: Black Twigs sold at 60285 cents. Grain Market n_country ship- CHICAGO. January 15 (#).—Unex- pectedly big wheat shipments from southern hemisphere sources gave an early downward trend to grain prices toddy. Tlhe week's total of “wheat ex portsi by Argentina and Australia was 9,274,000 bushels. Opening at a shade to 2 lower, wheat afterward sagged further. Corn started unchanged to Y off, and subsequently held near the initial limits Sub-zero temperatures spreading into domestic Winter wheat territory acted as a curb on wheat price setbacks. Rallies, however, were not impressive Washington forecasts that the recon- struction finance bill would be adopteed today by the House were al any material market influer European dcmand for U: wheat reperted as of volume to support values. France was referred to as sionally taking few lots from Canada. Some domestic hard Winter wheat was mentioned as having been sold for overseas shipment from Atla but at unsatisfac. tory and oats sagged with ‘wheat, despite Winter weather over sections of the corn belt. Upturns in hog values steadied pro- visions. BANK ADDS OFFICIAL Special Dispatch to The Star. LURAY. V Jenuary Page Valley ional held its annual meeting of s re-electing all old officers and b dircctors, and adding one offici G. n, who k a cashier. The reported _capital stock of $75,000, surplus of $75,000, and total resources of $1,179,000. According to A member of the board of directors, this is a better state nt than last year, and banking condif are very much improved. The bank has very large cash resources as compared with for- mer years, 15.—The of Lura tockholders, d of Maj. M: bank 101.5 80.2 101.4 demand for | putting away small sums. This class of | covery can expect more {rom that kind in the Rochester dis- eenings of similar grade | Lower grade Baldwins orchard run fruit 100 pounds. 90a | Not many | and “The everyday investor is a sign of | business stability to whom our prophets Shipments from most sec- | of gloom have not given much attention. in mid-January, | The building and loan associations' new | members are psople who are quietly Bosiness re- of confidence than from the lavish in- torage sold about ' vest;ient of hundreds and thousands of ‘dollars by a few individuals.” | New York Couoh | | NEW YORK, January 15 (#).—Cotton | opened steady today at an advance of 3 0 6 points on a further demand from | the trade coupled with steadier cables | and reports of light offerings from the | South ~ March sold at 6.74. Houses with Far Eastern and Euro- pean connections were among the early buyers, but the advance to 6.74 for | March and 7.07 for July met conside | able realizing and there also seemed to { be a little more southern selling after the call. This supplied the initial de- mand and prices eased off a few points. It appeared, however, that there were buying orders in the market around the 7-cent level for July contracts. At the end of the first half hour the | market was about steady within a point | or two of yesterday’s closing quotations | with July “selling around 7.01. Liver- pool cebles report=d Bombay liquidation | and selling on the improvement in sterling, but said Manchester was more | cheerful with an improved cloth de- | mand from China. | Evidences of a continued trade de- | mand just uncer the market had a sus- | taining effect later in the morning, but | buyers showed little inclination to fol- low up advances. This was partly due to signs of hesitation in the stock mar- ket. At middav March was ruling around 6.66, with the general market about net unchanged to 2 points lower. PN |CHICAGO LIVE STOCK MARKET | _ CHICAGO, January 15 (#)—Hogs— ~ | Receipts, 23,000 head, including 7,000 | head direct: market active, 10 to 35 | higher: 170-210 pounds, 4.20a4.30: top, 4.35; 220-250 pounds, 4.00a4.20; 260-310 pounds, 3.9024.00; 140-160 pounds, 4.108 14.25; pigs. 3.50a3.75; packing sows, 3.40a |3.50; light light. good and choice, 140-160 | Founds, 4.10a4.30; light weight, 160-200 | Pounds, 4.20a4.35: medium weight, 200~ | 250 pounds, 4.00a4.35; heavy weight, 1250-350 pounds, 3.80a4.10; packing sows, | medium and good, 275-500 pounds, 3.00a |3.65; pigs, good and choice, 100-130 | pounds, 3.50a4.00. Cattle, 1,500 head; calves. 500 head; | no_ choice steers or yearlings here; common kinds a little ‘more active on small killer a pound, bulk week end steer crop selling down at 6.00 down= ward to 475 cutter cows stronger to- day, but all classes sharply off for Slaughter cattle and vealers— d and choice, 600-900 pounds, 900-1,100 pounds, 7.00a11.25; 1,100-1,300 pounds, 7.00a11.00; 1,300« 1.500 pounds, 7.00a11.00: common and medium, 600-1,300 pounds, 4.00a7.00; good 'and choice, 550-850 . 5.2527.00; common and medium, 3.50a5.25; cows, good and choice, 3.75a 475, common and medium, 2.90a3.75; low cutter and cutter, 1.75a2.90; bulls (vearlings excluded), good and choice (beef), 4.00a4.50; cutter to medium, 3.00a4.25; vealers (milk fed), good and choice, 6.50a8.50; medium, 5.506.50; cull and common, 3.00a5.50. Stocker feeder cattle—Steers, good and choice, 500-1,050 pounds. 4.75a5.75; | common and medium, 3.0084.75. Sheep—Receipts, 15,000 head; market not fully established; few bids on sale, steady to strong; bulk unevenly higher; good to choice lambs, bid 6.00a6.62, ask- ing upward to 7.00; lambs, 90 pounds down, good and choice, 6.0086.75; me- dium, 4.50a6.00; all weights, common, 3.50a4.50; ewes, 90-150 pounds, medium to choice, 2.00a3.50; all weights, cull and common, 1.50a2.50; feeding lambs, 50-75 pounds, good and choice, 4.75a 5.2 = P FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gold Selling checks Value toda; London, pound. Parls, franc Brussels. beiga. Berlin, mark Rome,’ lira Zurich, ~ frane ens, drachi drid, pesetn ., schilling. Budapest. pengo. . Prague. crown (nom.) Warsaw. _sloty. Copenhagen, crown Oslo. crown A Ma b 96.6 99.8 96.0 dard Btatistics Co.) Stockholm, crown. A labor village, where poor working people will be segregated, is to be Tablished in Mania, B, L i *~