Evening Star Newspaper, January 20, 1932, Page 14

PRODUTIN OF L | DOHNLAST WEEK Okjahama, Reduced 40,000 Barrels, Leads Way to _Lower Output. By thie Absociated Press. TULSA, OklaFoma, January 20.— Under the impetus of & 40,000-barrel decrease in Oklahoma production, the crude oil output of the United States took a 28,075-barrel nose dive last week to a total dally average of 2,191.- 383 barrels, the Ofl and Gas Journal's table shows. Oklahoma prodiiction whs 441,085 barrels daily, as compared with a pre- vious average of 481,115 barrels. Fast Texas production #ncreased 3.- 894 barrels in the daily average to an average of 333,121 barrels. The increase was due wholly to new completions. The 'daily total for the entire State of *Texas was 848446 barrels. The redding the week ending January 9 was 840,778 barrels daily. ' Kansas pro- ducéd 98,945 barrels daily, a drop of Lsg: barrels. lifornia production increased from 500,000 barrels to 508,250 barrels in the dafly average. Rocky Mountain output decreased from 84,804 barrels to 81,- 782 barrels daily. Eastern flow was stationary at 122,- 000, parrels OIL TARIFF BILL DRAWN. Independent Petroleum Association Agrees on Tentative Duties. By the Associated Press. A tentative bill has been drafted by the Independent Petroleum Association of America for placing duties on im- ported petroleum and refined products. After referring in_the preamble to (Continued from Page 13.) —1931— Stock and High Low. Divigend Rate. 40% 11 Superheater Corp(1) 2% Suberior Steel. . 1 Svmington (A)..... 1 9% Texas Corp (1). 19% Tex Gulf Sulphur(3) 1% Tex Pacific Coal&Oil 4% Tex Pacific Land Tr. 5% Third Avenue 11% Third Nat Inv (1. 6% Thompson Prod 1 20. 7% Thompson Starrett. . 2% Tide Water Asso Ofl. 20% Tide Water As pf(6) 31 Timken-Detroit Axle 16% Timken Roller B(2). 1% Tobacco Products. .. 6 Tobacco Prod A t95¢ Tobacco Products cts 2 Transamerica Corp.. Tri-Cont] Corp. . Ulen & Co. 3 Underwood-Ell-F (3 Union, Bag & Paper.. Unjon Carb & (2 60). Un Ol of Calif (1.40) Union Pacific (10).. Un Tank Car (1.60) Cnit Afrcraft. Unit Alrcraft p Unit Biscuit (2) Uait Carbon. . Dnit Cigar Stores. ... Unit Cigar St pf (4). 4 Unit Corp (76c) . Uait Corp pf (3).... Unit Dyewood pf (7) Unit Electric Coal... Unit Fruit (3) 'nit Gas&Im (1. 11 S & Forn Secur. U S Gypsum (1.60).. 2 U S Hoftman. . U S Indus Alcohol U S Leather. . U S Leather (A).... U S Pips & Fdry (). U S Realty & Imp. . S Rubber...... S Smtg & Ref (1) S Steel Corpa (4). % 36% 14 o 18 % 21% 76% 14% 72 265 206'% 26 38 ® Broaxlr=NoeeR il olvonenioulnlans ofonBRenSommonate e @ S.® » P e u U u o S8 Bales— Add 00. High. Low. Close Chee 5 Divi U 8 Ste 1% United 21 United 804 50 % Net. 13% 18% — % 6% T+ % WM 1% — % 12% — 4 244 + % 2 2 13% N 0 1% 121 » | 6% 11 3% | _71% 204 Vulcan | 26 | &1 | 214 | 20% 404 Vanad} Bk 12% 17% Waldor: 24 Bl 8% 12% Warren Warren Webste Wesson Wester e s L o Wsthse ++ WEFFEES Wilcox Willys- Willys- Wilson +1001 s &8 4 Worthi 3 Yellow Sales of S 10:30 AM. 1:30 P.M. 3lg 26'% 2% bl 135 | T 4% 16% 44y XEx-divicend 4% 1n stock TPl b Pavable n stock % in ‘stock. m stock. Plua 2% 45% Stock and Univ Leaf Tob pf(8). Utah Copper Co (4).. Util Pwr & LtA (2). 2 % Vadasco Sales Corp. Warn Bros Picturei Warner Bros pf 3.85. Warren Bros cv pf 3. West Pa E1 pf (6)... West Pa Pwr pf (7). Western Maryland. . Western Md 2d pf. Plus 2% in stock a1d this Eales— Add 00. High. . 3 108 2% 357% 801 57 10 % 5 dend Rate. el pf (7). Stores (A)... 2 Stores pf (4) 2 10s 10s 4 um Corp. 14 Va-Cora Chem. Detin (4) 7 Wabash R R... 11 Wabash R R (A) £Sys (1% 34 Bros..... 208 Fdy & P 1.20 r Eisenlohr. . Wesson O11&Sno(2) . 0&Sno pf(4) x108 30s 2 n Pacific. Western Unfon (6 Westinghse A B(2). Westinghouse (2% ). E&M 1st 314 Westvaco Chlor 1.60. White Sewing Mach. Oll & Gas Overland Overland pf.. &C. 5 Woolworth ngton Wrigley (Wm) (4) Truck. .. 6 Young Spring& W (1) 6% Zouite Prod Corp (1) tocks on New York Exchange. . 200,000 12:00 Noon 600,000 0 P.M. Dividend rates as given in the above ti payments based on' the latest cusrterly or sLess than 100 t year—no resular ra ock f Plus 3% 1D stock pecial preferred stock K Plus ular rate. nPlus 5% i the._report of the Tariff Commission on the difference between the domestic and the foreign costs of production of | crude and its products, the bill pro- poses the following rates of duties: On crude petroleum and topped and fuel oil, §1 per barrel; on gasoline, lubri- cating oils and all other products of refining, 50 per cent ad valorem. The bill specifies the rates shall be applied on the American selling price, except when there is no similar com- petitive article produced in the United States. Under the latter condition the ad yalorem rate shall be based on the United States value. 1t is further provided that ofl im- ported for manufacture and re-export shall be exempt frem duty. Baltimore Markets Bpecial Dispateh to The Star. BALTIMORE, Md., January 20.— ‘White potatoes, 100 pounds, 75a1.15; sweet potatoes, bushel, 40a80; yams, barrel, 75a1.25; beans, bushel, 1.25a2.25; beets, per ecrate, 1.50a1.60; Brussels spreuts, per quart, 18a20; cabbage, ‘hamper, 1.00a1.65; carrots, per bushel 90al.10; caulifiower, crate, 1.25a1.3! celery, crate, 1.25a2.50; eggplants, crate, 1.50a2.75; kale, bushel, 2%!040; onions, T 100 nds, 3.00a4.00; peppers, gx"‘nt(‘. 1503‘;0,?]5, cucumbers, bushel, 2.75 '50. spinach, bushel, 25a90; squash, bushel, 1.50a2.50; tomatoes, crate, 1.00a 3.25; turnips, hamper, 10a20; grapefruit, box, 1.25a2.50; apples, bushel, 35a1.50; oranges, box, 2.00a3.75; strawberries, quart, 30a32 Wheat—No. 2 Red Winter, garlicky, spot, domestic, 6214; January delivery, 62'%; PFebruary delivery, 63. Corn—Nc. 2 yellow, spot, domestic, 44245; cob corn, new, 2.00a2.10 per barrel. 2, white, domestic, 35a ; No. 3, 34a34’5. | Rye—Nearby baglots, 40a45. i Hay—Receipts none. Market un- changed. Dairy Markets. Chickens—Young, 18a20; Leghorns, 15a18; old hens, 15a20; l&lhorn.lu.z (;lod. a20; turkeys, 15830; pigeons, pair, 20a25. Eggs—Receipts, 653 cases; current re- ceipts, 17; nearhy firsts, 17}2al8; Scuthern firsts, 17. Butter—Good and fancy creamery, 223251%; ladles, 17 a 18; process, 20a21; store packed, 12a13. Live Stock Market. Gattle—Receipts, 50hea d;l1 ight sup- ply’. market dull. Steers—Choice to prime none; good o choice, 6.00 to 7.00; medium to good, $.00. to 6.00; fair to medium, 4.00 to 5.00; plain to fair, 3.00 to 3.50; com- mon to plain none. Bulls—Good to prime none; good to choice none; medium to good, 4.00 to 4.25; fair to medium, 3.50 to 4.00; plain to fair, 3.25 to 3.50; common to plain, 3.00 to 3.25 Cows—Choice to prime none; good to ghoice none; medium to good, 3.75 to 4.00; fair to medium, 3.25 to 3.75; ain to fair, 250 to 3.25; common to ain, 1.50 to 2.50. . Heifers—Choice to prime, none; good to choice, 5.00 to 5.50; medium to good, 450 to 5.00; fair to medium, 4.00 to 450; plain to fair, 3.00 to 4.00; com- mon to plain, 2.50 to 3.00 ! Fresh cows and Springers, 30.00 to | alk LEADERS ON DAY'S PROGRAM. Senator Robert F Wa; of New York g Senatar Artnur Capper of Kansas on Insurance INGOT PRODUCTION UPT0 28 PER CENT Iron Age Says, However, Improvement Is More Prom- ise Than Actual. By the Associated Press. NEW YORK, January 20.—While ingot production has increased to an average of 28 per cent of capacity. a gain of 3 per cent over last week, im- provement in the steel business is more in the promise than in the perform- ance, Iron Age said today. There has been a more generous flow of small orders, particularly at Chicago and Pittsburgh, both for replenishment of depleted stocks and for immediate consumption. “Delays in certain developments are at least in part responsible for the slow- ness of steel to reflect the usual sea- sonal influences, the review stated. “The automobile industry is to some extent marking time, pending the final disclosure of the new Ford model; the ing is undoubtedly held back by the prolonged negotiations over railroad wage reductions, and a good deal of public construction work that has been authorized is in abeyance because of financing difficulties. Tin Contracts Postponed. “Tin plate contracts expected from two large can companies have been postponed until after the canners’ con- vention next week. “Such gains in orders and operations as have occurred are in the main due to the automobile industry, notwith- standing that it is expanding its sched- ules slowly and cautiously. Building construction and the railroads are play- ing a very small part in current re- | leases. “The best operations are at Birming- ham, where the rate is above 50 per cent of capacity, and in the Youngs- town area, which has an average sched- ule above 35 per cent. The Pittsburgh and Chicago districts are both at 25 per cent, Cleveland is at 35 per cent | and Wheeling at 40 per cent. “Bar and sheet mills are doing rela- tively better than other finishing de- partments. A Chicago bar unit is op- erating at 50 per cent, while sheet mills in the central district have stepped up output to an average of 30 per cent. Some companies report in- creases in bookings of 10 to 15 per cent over the corresponding period of De- | cember. Pending Business. “Included in the pending business of outstanding size is 35,000 tons of 20- inch pipe for a pipe Jine on which a New York engineering firm is taking bids. The Erie Railroad is distributing release of some expected railroad buy- | Three radio networks covering the | country from coast to cozst will tap| Washington tomorrow for the feature which steel corporation mills will re- | Beiitn ceive more than 25,000 tons. “The New York Central rail inquiry CHEWNING ELECTED " MORTGAGE OFFICER | Harry M. Crandall*Withdraws as Vice President, but Remains on Board. E. T. Chewning, a director of Fed- eral Security & Mortgage Co., su ed Harry M. Crandall as vice president of that company at its an- nual meeting of directors yesterday, Mr. Crandall remaining on the board. Of- ficers and directors re-elected were the following: Morris Cafritz, president; | George W. Huguely, vice president and | treasurer; Morris Gewirz, secretary and general manager; M. D. Rosenberg, | general counsel; J. M. MacDonald, as- sistant secretary; directors, Harry M. Crandall, E. T. Chewning, Morris Ca- | fritz, Charles A Goldsmith, W. W. | Grifith, Morrls Gewirz, George W. Huguely, Paul Himmelfarb, Vernon G. Owen, M. D. Rosenberg and James E. | Smith. [MILLS DOUBLE BUYING | OF NEW EQUIPMENT | | Southern knitting mills at Charlotte, |N."C.. were active purchasers of new equipment during 1931, installing & total of 4,575 additional knitting ma- | chines during the year, figures com- | piled by the Southern Textile Bulletin show. ‘This does not include equipment bought for replacement and is almost double the total of 2,503 additional ma- chines installed in 1930. The bulk of this equipment is cir- | cular knit machines, |large amount of full' fashioned equip- ment. For some years past the knitting mills have grown'faster than any other division of the Southern textile in- dustry. WALLPAPER SALES GOOD. NEW YORK, January 20 ().—Jan- uary buying of wall paper is sald to be running In good volume. Retailers are placing substantial crders for Feb- | ruary and March delivery, according to | reports in the trade. Medium-priced | materials is in the greatest demand, | buying interest. INVESTMENT TRUSTS NEW YORK, January 20 (#).— |A B c T shrs |A B C Tr shrs “E | Am” & Gen Sec A’ | Am & Gen Sec B | Am & Gen sec 33 p! | Am Br & con 6 | Am Comp Tr Shr | Am Fars 6 ! | Fdrs 77 pi v | Am Fdrs v’ pt ctss!l Am Ins Stocks D Assoc Stand Ol | Atl Sec pf.... | At Sec Swar | Atl & Pac Int uniis m | At & Pac pt wi | Bankers Nat In its orders for 31,377 tons of rails, of | Bansicilla Corp ic ~Industry Type Inv. Central Nat Corp A Century Tr Shrs Central Nat Corp’ B but includes aj and imperted papers are attracting less | IBONDS ARE ERRATIC WITH TRADING FAIR Market Opens Session Higher as Securities Follow Stecks’ Trend. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, January 20.—The bond market today was marked by erratic fluctuations in prices. Trading was in moderate volume. The market opened higher, with most raflroad and industrial bonds following the initial advance of stocks. Those who have been waiting for good news from the rail wage meeting in Chicago showed their disappointment over the continued delays by selling rail bonds, but bidding was fairly good at the start and most junior issues opened higher. The belief that the Reconstruction Finance Corporation will prevent any further defaults in rail bonds brought the buying into these issues at the opening, On the other hand, United States Government issues were sold because of the market's view that the large sums required for the Reconstruction Pinance Corporation will be an influ- ence for lower prices of these securities. The selling of Governments resulted in price dips of 3/32 to 16/32 and had a ]sflqucl in recessions of fractional dimen- sions in municipals and prime corpora- tion bonds such as Atchison general 4s, Norfolk & Western 4s, American Tele- phone 5s, Duquesne Light 4!:s and Consolidated Gas 5!5s. These losses were offset by later buying. The heaviness spread to some issues of the junior group and the result was an irregular tone Gains of 1 to 2 points occurred in Chicago Great West- ern 4s, St. Paul 5s, Chicago & North- western 43s and Missouri-Pacific 5s at the same time that declines were shown by Rock Island 4l2s, Erie 5s, Western Maryland 4s and Alleghany Corporation 5s. Among industrials, international Match 5s were 2 points higher and Goodrich 65 and Goodyear 5s had small gains. Texas Corporation 5s and Sinclair Oil 7s were firm. But Crown Zellerbach 6s, Dodge Bros. 6s, Shell Union Oil 5s and Standard Oil of New Jersey 55 were down a point or more. Once more Canadien Exchange was quotably higher and Canadian govern- ment and government guaranteed is- sues went along to the extent of a point or so. Canadian Pacific Railway obli- gations were up about a point. Cana- din National 5s improved. Canadian Northern 7s gained a point. So did Grand Trunk 6s and T7s. The foreign department had a stead- ier tone than the domestic list. Ger- man government issues ranged about a point higher, after rebounding about 2 points from their morning lows. Ger- man Central Bank 6s were firm. Ger- man industrials, with the exception of Siemens & Halske issues, which were affected by prospects of a dividend re- duction, were about steady. Greek 6s, Sweden 5!3s, Vienna 6s, Budapest 6s and French and Swiss descriptions were firm. Belgian obligations lost ground. If the German moratorium is extended for a long time, Belgium's revenues, talled. South American issues we firm. Japanese bonds were littic changed. Australians gained narrowly. Bonds moved higher at the epening of the market today. Trading was in good volume. The best advances were in the junior rails. Chicago, Great Western 4s, Rock Island refunding 4s, St. Paul 5s, North- ern Pacific 6s and Frisco prior lien A 4s all had substantial gains. Prime rails like Atchison general 4s and high- grade utilities such as American Tele- phone 5s were steady. Industrials were firm. Toreign dollar issues were irregular. German government 5'2s and Dawes Reparations 7s were lower. Italy 7Ts and Japanese 5 had small gains. U. S. TREASURY CERTIFICATES (Beported by Chas. D Barney & Co) e—Maturity. offer. June 15, 100 15 100 1:32 98 30-32 100 100 3s 15, 1932, 3'ss Dec. 15, 1932 Mar. 30-32 Washington Stock Exchange. SALES. Potomac Electric 5¢s pfd.—5 at 103%. Washington Gas 6s “A"—8$1,000 at 100. Mergenthaler Linotype—6 at 51, 2 at 51. AFTER CALL. Washington Gas 6s “A"—$1,000 at 100. | Potomac Electric 5'2 pfd.—10 a 103%;. Capital Traction 55—31,000 at 60. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Tel. 4'; '39 Am. Tel. & Tel. ctl. tr. bs Ana C & Capital Traction R City & Suburban 5c Georgetown Gas 1st Potomac Elec. Cons Potomac, Elec which are largely derived from G"'i man payments, will be drastically cur- | (Sale: les. Lib 314 s32-47. 173 L 1st4%s32-47 32 L 4th 44 33-38166 US3s1951-5.. 108 US3ys" Us U U 31 41 Abitibl P&P 6353, Alleghany Cp 6844 Allegheny 6849 Allegheny 63 '60... Allis-Chalm s '37. Am Chain 68'33. Am F P 55 2030 Am Metal 5348 '34.. Am N Gas 6%5'42. Am S&R 1t 6347, Am Sug Ref 6337, Am T&T cv 4% 539 AmT & T 65 '65. | Am T&T c tr 63’46, {Am T&T 6saf'60. Am T&T 6%s 43 Am W Wks 58 '34.. Am Wat Wks 65 ‘75 Arrentine 535’62, Argentine May '61. Argentine 65 Ju's9. Argentine 65 Oc'59. Argentine 63 A '57. Argentine 6s B '58. Arm & Co 4%s'39.. Arm Del 5%35 '43 Atchison adj 4s'95. Atchison gn 48 '95. Atchiscy 4%s'48.. At C L 1st 48 '52.. AtICLcl4s AtCL4%s 64 Atl Ref db 55 3' Australia 4 Australia § Australia Austria 78 '43..... Austria 78 ‘57 ctfs, O Swdv 68’50, & O Toledo 43’69 Bk Chile 6% s ‘61 i Belglum 68 '56. .. .. Beiglum 63543, Belilum 7s 65 Belgium 75 ‘66 Bell Tel Pa 53 Bell Tell Pa b3 C'60 B Ind Loan C 6 Berlin Cy El 65 '55. Berlin CE 6%s '50. Beth Sti om 68 '36 Bolivia 73 58 Bolivia 7s '69 | Bolivia 8s 47 | Bordeaux 6s ‘34" Bos & Me 58 '55. Brazil 614826, . Brazil 7s. Brazil 8s '41. Bremen 7835....., Ek Ed gn A 5843, Bklyn Man 6s ‘68 Riiyn Un 5s 45. Budapest ys '62. Buenos A 6s'61 Pv. Buff Gen El 4 %4231 B R&Pitt 414557, Canada s ‘§0 Canada 438 Canada s ‘52 Can Nat 4435 | Can Nat Ry 4% 8'56 Can Nat 4343 '57 Can Nat 4%s'68. ., Can Nat 5s July's9. Can Nat 63 Oct 69 Can Nor 633 db '4¢ Can Nor 7sdb '40. . Can Pac db 4a Can Pacific 4% s 4§ Can Pac 4345 '60. .. {Can Pac6s5s. ..., Cent 'll G&E 58'51. Cent Pac 5s 60 Cen Ry NJ g 63 Ch, & & 7. ® Corp 5a°47... C&Ogen4%s’9z, C&O4%sB'95.,. Chi & Alt 35. . CB&Qgen 4s'58. C B&Q 1st rf b3 '71. CE&Q I11dv 4543, Shi & Est N 6s'51. Chl Grt West 45’59 | Ch1 Ind&L gn 55 '66 [Chi M & StP 41348 C C M StP&P 68 75. . CM&StPad) s Chi&NW 4145 2037, C&NW 4145 C 2037, Chi& NW en 4% s. i & NW 6%s 36, Chi R1 & Prf 4834 Chi RI&P 48 52 Chi R Lcv 4%s ‘60 Chi Un St 55 44 Cht Un Sta 68 B Chile 63 ‘R0 Chile 63 '63 (Ghile e ) o0 i Chile Cop db 58 '47. CCCESt L 4%s B'77 Cologne G%s 50..., Colemb 65 Jan '61.. Colomb 65'61 Oct Colo & Sou 4% '35. Colo & Sou 443 '80 Col G&E b8 May'52 Col G&E cou 58 '§1. Com Inves 5%s 49, CC Md 1st rf 68'50. Cor. G NY 4%3°51.. ConGN Yb%s 91 28 97 2 1014 1 Sales. High. 6 34 3 39% 37% 27% 8674 85% 45% 67% Low. UNITED STATES. are In $1.000.) High. 2:55. 9414 983 98 30 8425 85 14 9018 90 18 8916 9128 9628 97 0030 101 Low. 2:55 4 34 94 12 97 31 381 354 Int Rap Tr7s32... Int Cement 58 '48 { Int & Gr Nor 6a°63. Int & G N ad 63 ‘2. Int Hydro El Int M Co bs ret'41 Int Match 68 '47 Int MM col tr 6841 Int Pap 53 A '47.. int Pap 63’56 It T&T4%e's2 Int T&T cv 414339, Int T&T 6855 Japanese 6145 '54 Jugosl Bnk 7s ‘57 Kan C FtS&M 4, Kan City Sou 3 Kan City Sou Kan City Ter 4s'60. Kan G&E 4135 '80.. Karstadt 6s'43.... Kresga Found 65'36 Kreug & Toll 6369 Lackaw St 58 °60. .. Laclede b%s C'53 Lake Shore 334 '37 Lautaro Nit 6s ‘54. Leh Valcy 4s 2003, Liz & Myers 5a ‘51, Lig & Myers Ts'44. Loew’s 63 ex w '41. Lorillard 53 '51.... Lorillard 7s '44 La & Ark 5860 Lou G & El 53 '52 & N ini 45 '40 L & N 55 B 2003 Lvons 63 '34... McKes & R 54 %50, Manh Ry 1st 4590, Market St 7s *40. Marsellle 63 34 Mex 4s astd 191 Midvale Stl 63 '36. . Milan 638 ‘52 M1l E Rv & L 58 '61 M StP&: 58 gtd. M K & T adj 5367, MK&T pr In 53A°62 Mo Pac gn 4s'75. .. Mo Pac 58 A '65.. Mo Pac 53 F "1 Mo Pac 53 G '78 Mo Pac 63 H ‘30 Mo Pac rf 63 '81 Mo Pac5%8 A '49., Moblile-Ohio 58 * Mont Pow 68°43... Mont P db 5s A '62. Mont Tr 1st 5 41.. Montevideo 6s '59. . Mor&Co 1st 4% #'39 Nassau Elec 43 51, Nat Dairy 51 s '43. Nat Steel 53 ‘66 Netherlands 6s'72. N Eng T 1st 58 '62. NOTE&Mb%s 54, Nw S Wales b8 5 Nw S Wales 58 '58. {NYCgn3ys9ot.. IN Y Centdb 4n"34. N Y Cent4s's8. ... N Y Cent 41452013 NYCrf4ys INYCrtimss | N Y Cent db 6s & NYC&SL 4% 78, NYC&StL 6s " N Y Edisn 5s . N Y Fd 1st 6%s41. NY ELH&P 4s'43. NY NH&H 434867 NYNH&H cd 6548, NY OXW 1st 4592, | NY O&W gn 45 '55. NY Tel 4%s 39 . Nord f14s "50. Norf South 53 '§1 No Am Co 5s 61 Nor Am Ed 53 C Nor Am F 53863, Nor O T & I, 65 '47. Nor Pac 3. 2047 Ner Pac 4897 Nor Pac r 1 682047, Nor St Pw 55 A *41. Norway 5%s '65. Norway 65°43. .. Norway 6s*44 Norway 6s ‘52 Ore Sh L 53 gtd '46 OregaWash 45 '61.. Orfent dev 5% 558, Pac GRE 58 '42.... Pac T&T 1st 68’37, Pac T&T rf 53 '62.. Pan Am Pet 6s'34. Paramount 63 '47. . Paris-Ly M Ly M 7s'58.. Or fls Penncv 4ls 60, Penn 635 36...... | Penn P&T, 4148781, Peoples’ Gas 58 "47. Peor & E 1st 43’40 Pere Mar 4%s '80 Pere M 1st 58 ' Peru 63°'60. .. Pern 65 '61. Peru 7s ‘59 Phil & Reac 6849, | P CC&StL &8 A *70 PCC&St L 58 B'75. P& W V4lsC60. | Poland 6s 40 Poland 7s'47. Poland 8s'50. Port Gn'El 434 5'60. Pos Tel & C 5&'53.. . Prague 7%s ‘52 Prussia 6s ‘52 Public Serv 45 '71.. Pub Sv G 4% 70 Pure Ol 5%8'37... Queensiand s "47.. Queensiand 7s "41 A N BrwnbanhosbaeSa9anS0 HoP oSS nnameomes R alaann 91y FINANCIAL. ” ON NEW YORK BONDS STOCK EXCHANGE I Received by Private Wire Direct te The Star Office Sadee, Eiah, Low 3.0 691 69 6815 55 5514 76l 40 5814 57% NEW SALES MARKS ET AT AUTO SHOW Many Dealers Réport Pur- chases Exceeding Records of Other Years, BY ROBERT MOUNTSIER. Special Dispatch to The Star. NEW YORK, January 20.—New York’s thirty-second annual National Automobile Show is now, a matter of automotive history, but its sales spirit is marching on, not only in the metro- politan district, but, if the omens of at- tendance and purchase records are properly prophetic, to the automobile shows in Brooklyn, Detroit and Chbi- cago and to the passenger car business through the rest of the country. With attendance greater than at any other automobile show in the past five years, including the record year of 1929, the big majority of the companies represented at Grand Central Paluce report sales well above last year's, sev- eral of them achieving all-time selling records for New York’s shows. Packard Sets Record. Packard sold 127 cars at retail. The best previous record in the entire his- tory of the Packard company at the New York show was 63 sales, and Packard has been in the New York show since the first exhibit in 1901. It is to be noted also that this figure of 127 cars sold from January 9 to 16 does not include sales made at metro- politan dealer stores or by other East- ern deajers and distributors at Grand | Central Palace. Graham-Paige, whose new line of * Blue Streak eights embodies distinctive advances both in body and chassis de- sign, sold more than four times as many Graham cars at the exhibit and at their Manhattan and Bronx sales- rooms during the six and a half days of this year's show as were sold du the seven and a half days of the 1931 skow. Cadillac-La Salle, it is understood, more than tripled its sales of last year for the show period In the metropoli- tan district. Auburn, featuring its new dual ratio, reported an iricrease of 81 per cent in sales of Auburn cars for the first five days of the show over the same period of the 1931 show—and this makes a new all-time show record for Auburn. Hupmobile dealers working at Grand Central Palace in connection with the Hupmobile factory exhibit sold at least 103 cars, more than double the number of Hupmobiles ever sold at any previous f‘l‘cw Ynork exhibit. The highest pre- vious figure was 48 b g Hups, sold at the Others Haven't Reported. Reporting only on actual deliveri Studebaker placed 62 cars in the han!dl‘.s t;; cust%nsgrsagurmg the show period, aga! delivere yexs show. e most all of the other compan: exhibiting at Grand Centrn,galalg: had increased sales at the show and in their own and metropolitan dealers’ salesrooms, but they are not ready ta give out any deéfinite figures or com= 1. | Parisons at the present time. And, taking all cars togeth district, little old N sz'k p‘l; hél:'l}x:‘: ;:s:cl‘lgb:d cwllh l"‘t les of 127,000 new © cars last year, as t with the peak of 160,000 in 19:9’,npm’2fl (Copyright, 1932.) JONES PLAN WOULD HELP FARM CREDIT A!I‘lendmentvl’mpoleg 1o Set. Asitle Sum of $200,000,000 for Agrioulture. BY FRANK 1. WELLER, Assoclated Press Farm Editor. The amendment by ‘Chairman Jon cf the Ho)ls: Agricultural (bmml“"eoenle; | earmarx $200,000,000 of the $500,000), 000 Eeconstruc.ion Corporation ' appropria- | toa ior agriculture is an atiempt to- gllerglz new life into farm production It is entirely separate fro “rider” of Senator p;milh olmSolz?l: Carolina tacked to the reconstruction bill providing $50,000,000 as a perma- nent revolving fund for feed, seed and fertilizer loans in storm and drought areas. Both provisions are before the Senate and House conferees now trying to whip into one measure the recon- struction bills passed by the two branches of Congress. The $200,000,000 would be used to ex- pand the credit facilities of the Federal intermediate credit banks just as the proposed investment of $100,000,000 in {)l;e xiaplta&;mgk of the Federal land nl WOl roaden the cr mg‘se institution®. ks armers obta.) loans from Federal land banks for the permanent improve- ment of physical property and secure the loans by mortgages on their land and buildings. Such loans are made at low interest and are subject to long- 65 195 ‘alex. 4 Mt Vesrion ct Alas.. . time amortization, not infrequently as . long as 30 years. Wil probably be for not more than| Chain & Gen Equities ... ... s It is from the intermediate credit 100,000 tons, as part of its last pur-| Ch chase of 175,000 tons is still unused. | Cha and 'lambs — Recelpts, 125 speakers on the National Life Insurance | \ight _supply; market steady; | P day program. Senator Robert F. Wag- | Reaa gn 4%s A ‘97 | Reading 4%s B '97. ~op, 1.00 to 3.00; lambs, 4.00 to 7.50; Spring lambs, none. Hogs—Receipts, 700 head; light sup- ply;. market lower; lights, 450 to 4.95; heavies, 4.25 to 4.55; medium, 4.70 <o | 4.95; roughs, 250 to 3.75; light pigs, 4.00'to 4.40; pigs, 4.25 to 4.65; trucked hogs. none. Calves—Receipts, 50 head ply; market steady; calves, 9.00; extras, none. light sup- | 400 to| CHICAGO LIVE STOCK MARKET | CHICAGO, January 20 (#).—Hogs, | 37,000 head, including 7,000 head di- rect; siow; 10-10 lower; 170-210, pounds, 3.95a4.05; top, 4.10; 220-250 | pounds, 43.90; 260-300 pounds, 3.65a | 3.75; 140-160 pounds, 3.65a3.90; pigs, 3.00a3.25; packing sows, 3.25a3.40; light | Jight, good and choice, 140-160 pounds, 3.6543.95; light weight, 160-200 pounds, 385a4.10; medium weight, 200-250 pounds, 3.75a4.10; heavy weight, 250- 350 pounds, 3.60a3.85; packing sows, medium and good, 275-500 pounds, 3.25 a3.50; pigs, good and choice, 100-130 pounds, 3.00a3.60. Cattle—Recepits, 10,500 head: calves, 2,000 head; general trade almost at| standstill; few early sales weak to 25 Jower on practically all killing classes; better grade steers and yearings shar- ing decline; largely steer run, but she stock in vary narrow demand. Slaugh- ter cattle and vealers—Steers, good and cholce, 600-900 pounds, 6.75a11.00; 900- | 1100 pounds, 6.75a11.00; 1,100-1.300 pounds, 6.75810.75; 1,300-1,500 pounds 6.75210°75; common and medium, 600- 1,300 pounds, 3.50a6.75; heifers, good and choice, 550-850 pounds, 5.25a7.00; common and medium, 3.2585.25; cows, good and choice, 3.5084.75; common and medium, 2.7523.50; low cutter and cut- ter, 1.75a2.73; bulls (yearlings excluded), good and choice (beef), 3.75a4.25; cut- ter to medium, 3.00a4.10. Vealers (milk fed), good and choice, 7.00a8.75; medium, 6.00a7.00; cull and ner of New York, who will be introduced by the superintendent of insurance of that State, George S. Van Schaick, will | be heard from 11:45 to 12 noon, E. 8. T., | over the Columbia network. ' Senator | Arthur Capper of Kansas will be pre- sented by W. T. Grant, president of the Business Men's Assurance Co. of Kansas City, Mo, on the N. B. C.- WEAF _chain E S. T, and Merle Thorpe, editor of Nation's Business, will be heard over the N. B. C-WJZ hook-up from 7:45 to 8 pm, E. 8. T. | Albert G, Borden of New York, chair- | man of the National Life Insurance| Day Committee, announced yesterday that these brief addresses will be of in- terest to 54 per cent of the population of the United States, who own $109,000,- | 000,000 worth of life insurance. He said many of the 68,000,000 policy holders of the country have been informed of the plans for the day, thus assuring the speakers of & good audience PRICE “PEGS” DROPPED. | BALTIMORE, January 20 (Special). | —Effective today, the Baltimore Stock | Exchange removed the “pegs” from the following securities, which have been traded at a fixed price since last Sep- tember: Isaac Benesch 6s, Century- | Parkway 6s, Denville Traction 5s. Gib- | son Island 6s, Maryland Pennsylvania RIGGS BANK RATED | 88TH IN SIZE IN U. S. __(Continued From Thirteenth Page,) both well known in the insurance fleld | here, Mr. Lipscomb having conducted | a general insurance business for the | past 15 years. Mr. Ashton was for- merly associated with the local office of the Equitable Life Assurance Soclety of the United States. North American Co. has declared the common, 3.5086.00. Stocker and feeder cattle—Steers, good and choice, 500- 1,050 pounds, 4.75a5.75; common and medium, 3.0084.75. Sheep, 18,000 head; few sales about steady with yesterday's close; good to choice lambs, 5.715a6.25, top packers; closely sorted natives bid 6.35; asking upward to 6.65. Lambs, 90 pounds down, good and choice, 5.75a6.65; me- dium, 4.75a5.75; all welghts, common, regular quarterly ‘dividends of 21 per | | cent in common on the common and | | 75 cents on the preferred stocks, both | payable April 1 to stock of record March 5 | S. R. Prince nas been designated as general counsel of the Southern Rail-| way, succeeding the late L. E. Jeffries, who died here suddenly while attend- ing hearings upon the four-system Eastern railroad merger proposal. 4.00a4.75; ewes, 90-150 pounds, medium to choice, 2.00a3.50; all weights, cull and common, 1.5082.50; feeding lambs, 50-;0 pounds, good and choice, 4.758 5.25. Brokers understand that & large part of the recent buying in Alaska Juneau | originated from Celifornia. New structural steel inquiries are for 25000 tons and the week's lettings were 17,175 tons, “More activity in the purchase of heavy melting scrap by Chicago dis- | trict mills has had the opposite of the | Crum & Fost &' | usual effect, having reduced prices in-| g'um & stead of strengthening them. A 50- cent decline in this grade at Chicago 8t 230 to 2:45 pam,| brings the Iron Age scrap composite | price down to $8.33." WHEAT FLOUR EXPORTS By the Associated Press. United States exports of wheat flour in November amounted to 905,000 bar- rels. More than a third cf tbis amount | was shipped to China, including Hong | Inv Kong and Kwantung, records of the Commerce Department showing that a total of 396,000 barrels were shipped to this destination through the customs districts of Oregon, Washington and San Francisco Other leading customers during the month were Cuba, which absorbed 69,- 000 barrels; the United Kingdom, | which purchased 64,000 barrels, and | the Philippine Islands, which took 45,- 000 barrels. EHO}fi'-TfRM SECURITIES. (Reported by Ches. D. Barney & Co) i Allis-Chalmers Co. bs 1937 87 American Chain Co. 6s 1933 5% American Tel. & Tel_ 55 1943 102%2 mer. Wat. Wks s 1934 9 Baltimore & Ohio 4'3s 1933 Y Belding Hemingway Co. 6s 1936 Bethelenem Steel Corp. 55 1036 Canadian Nor. Rwy. Chi. Northwestern R. Chicago Rock Island 4s 1934 Cleve. Lor. & Wheeling 5s 1933 Colorado & So. Rwy. 4'as 1935 Commercial Credit Co, 81,8 Delaware & Hudson Co. 85 1 Denver & Rio Grande 4%ss Gen. Mot. Accep. Corp. 6s Genera] Petroleum Corp, 55 G (& 100 a Houston E & W. 23 ... 8 Humble Oil 51z 103: - ion Laclede Ges Light Co 55 1934 Louirylue & Nashville 85 1937 New ¥ ent. s 192 New York Chi. & Bt. L. 6s 1932 41% 6as 1 i0id Northwestern Telep. 55 1935 98%4 1940, 73 98 98 enna. R. R. Co ortiand General Elec i Co 943, Union Elec. Lt. & Pow. 85 193 Union oI Co. of Callt. 88 1 Virginia Rwy. & Power bs Vaeih Rwy, Co. 5% 1939 76 90% 1004 97% Chelsea Exch B Cumulative Tr Sh | Corporate Trust Corporate Trust A A | Corpourate Trust Accum ‘Ser Crum & Foster »t Fost Ins rum & Fost Ins 7 | Depos Bl Shrs N Y | Depos Bx Sh N ¥ Depos Ins Bhrs Diversified Tr Tr A A A Eaquity Invest pf | Equity_Trust_ Shrs Five ~Year = Fixed G g i | Incorp * Investors | Thcorp Inyest Equit Incep nd Tr Shrs bt I | Int Invest T Leaders of Ind | Leaders of T | Leaders of T ow Priced Shrs ... | Major Corp Shrs . | Mess Invest Tr | Mu my Tr AL oL A BB | Natl Natl |NY Bk Nor ‘Am Tr 8! Nor Am Tr Sh 1 | Northern Secur - Amer Shares 5 Cumulative Shares | gelecteq Selecie Selected Income Shares | Selected Manage Trust. | Bhawmut _Bank ; | Spencer Trask Fund::: | Bfand ‘Al Amer Trust | Stand Amer Trust Shares. | Standard_ Collat Trust. . Street Tnvest Amer Trust & ‘Trim Shares of Ame: | Trustee Stand Iny C | Trustee Stand Inv D | Trustee Standard O’ A | Trustee Standerd Oil Shares B | Trusteed N ¥ C Bank : Trusteed Amer Bank Shares... Trusteed Amer Bank 4 91t | 20ty Century Fixed Trust Two-Year Trust Shares United Fixed Sha nited Founders Trust Shares Barber & Ross, Inc., 614 Chevy Chase Club '5iu5 Columbia Country Club 5. W. M. Cold Storage 55 STOCKS. PUBLIC UTILITY, Amer Tel. & Tel. (9) Capital Traction Co. (4) Wash. Gas Lt Co. (18) N. & W. Steamboat (12) P pid . & Elec. com. Rwy. & Elec. pfd. (5) NATIONAL BANK. Was} Commercial (stamped) (10} District (8) Fed.-Amer. Natl. Bk. & Tr. (2) Liberty (T8)... Lincoln (10): Metropolitan’ (14) Riggs (15)....,..... Second _(9e) S Washington (i2). ' TRUST COMPANY. Amer. Sec. & Tr. Co Natl ‘Sav. & Tr. (131) Prince Georges Bk. & Tr. (8) Union Trust (8s) . Wash. Loan & Tr. (i4) - SAVINGS BANK. Bank of Bethesda (64). om. & Savings (10) East Washingion (12) Com. Bk. (17)." Seventh_Street (12)...... United States (30) Wash. Mechanics (20) FIRE INSURAX American (12) Corcoran_ (10) Firemen's (8) | National Union ‘(18 TITLE INSURANCE. Columbia (6h) ... Real Estate (6h) MISCELLANEOUS. Barber & Ross, Inc., com Col. Medical Bidg. Corp. (8) I 8and & Gravel ptd. (D 0. Fed-Am_ Co. pfd.” (6) ... Lanston Monotype (6). .. Mer. Tr. & 8 1. Mtge. & Inv. pfd (8) Peoples Drug Stores pfd Real Est. M. & G. pfd. (8) Corp. throp com. (1.20).. Woodward & Lothrop ptd. (1 tEx. dividend. 539 extr Czecho 88 '51.... Del & Hud rt Denmark 4% 2 Denmark 5%s 55. . Denmark 68 '42.... Denver Gas 5851, D& R Gren 4s'36. D&RG W b8 55 | DRG& Wbs78 Det E G&R4%5'61. Edison rf 55'49 Jeutsche Bk 6n°32, dodize Br cl 63°40.. | Duquesne 415 '¢ Dutch East I Nov., | Dutch East 1 68°47, El Salvador 8s'48., €rie 15t con ¢5°96. . Eris 68" | Fiat 73 war. F1 Finland 68 '45 Finland 63 Gen Baking 5%s'40 1 Gen Cable 533 " Gen Motors Gen P Sv6%a'3 Gen Th Eq 63°40.. German 5%s 65, | German Bk 65°38. . Ger Cen Bk 65760 J 30 Ger Cen Bk 6260 0 40 Ge*man s rep "49. | German Bank 7s ‘€0 Goodrich cv 6 Grand Trunk 7s'40. Grt Nor 414877 E. Grt Nor 58’73, .... Grt Nor gn 6348’52 Grt Nor gn 7536 Greek 6s'63. Hock Val 448 Hud & M ad) . Hud & M rf 58'57.. Humble Ofl 55°37.. Humble O 535 '32. Hungary 7%s"44. . 111 Bell Tell 65 °56. . I1l Cent 43 ‘53 111 Cent rf ¢ 111 Cent 4% [l CCSIL&N 4%s., 111 CCStL&N 5a A.. 111 Steel 43,8740, - . Inland St 438 A'78 Inland St 4% s B'S1 Int Rap Tr 5s Int Rap Tr sta Int Rap Tr ¢s 9% 78 48% 4815 33 Rem R5%s A "47.. Rhinelbe 75 '48. ... Rnine West 6s '52. Rhine West 63'63. Rhine West 63 '55. Rio de Jan 8s°'46. .. R Gr Do Sul 63 '68. RIAr&L4%s 4. Rome 6348 '52. .. Roy D 4845 ww. .. StL IM R&G 45'33. S1 LL&SF In 43 A StL&SF 4% StL&SF p 1 63 B '50 StLS W 1st 4589, StS Wen 43’32 StLSW53'52.... Sao Pau 78'40 ret.. Sao Paulo 83 '36... Sao Paulo 8s ‘50 Saxon P W 6%s Saxon 7s '45 | serbs-Cr-s17s Serbs-Cr-Sl 83 Shell Un Of1 Ga 49, Shinyetsu 638 '52. Sinclair Ol 6348’38 Sinc O 7scv A '37.. Sinc Cr O 6%s 38 Skelly Ol 5%s ‘39 Solssons 6s : Sou Bell T&T 68 '41 SW Bell T 63 A '54. Sou Pac col 48’49, . Sou Pac ref 48 ‘55 Sou Pac 4%s ‘68 Sou P 4%3'69 ww. Sou Pac 4%s°81... Sou P&OT 4 %8 17 Sou Ry &n 48 '56 Sou Ry 5894, Sou Ry 6%s '66. ... Sou Ry M&O 45 '38. StOfI N J 584 StOINY 4%s 51, Sweden 5% s '54... Swiss 5% e 4 ; Tatwan EP 53%s71 Tenn EI P 68 A 47, Tex & Ark 5%3'50. Texas Corp 55 °44. . Tex&P 1st 53 2000. Tex & P 55 D ‘80 Third Av adj b Toho El Pw 68 Toho El Pw 73 '55. Tokio 5% 61 . Toklo El Lit 6s'53.. Un Pac 18t 48°47.. Un Pac4%s'67.... Unit Dre cv 5s '53. Utd King 6%s'37.. U S Rub 18t 58 '47. Un St W 6%8 A'4T, UA St W 6%sA'S1.. Uruguay 6s°60.... Util Pw 5859 ww. 1 *78.110 13 Shell Un Of! b8 47. 114 15 = - s » M vropanBSaan Svabon~balvnanaasnoans 18 5 39 19 1 r 16 82 1024% 62 9654 734 784 90 82 8810 94'4 59 281y 274 29 45 bank that the farmer obtains short- time loans, usually on 60-to-90-day pa- per, for the financing of .crop or live stock production. He posts a lien on the prospective crop as collateral. Like the land bank, the intermediate credit bank does not loan' directly to the individual but through a local credit corporation which passes on his application and, if approved, discounts his notes at the nearest bank in the Federal farm credit system along with the corporation’s own indorsement. It has been a lack of funds in the intermediate credit banks and a dearth of local credit associations in certain regions that has limited to a degres or precluded the farmer’s ability to obtain badly needed funds for planting and feeding. Associations to convey to the farmer such production credit as he may need may be set up in any community by a group of responsible citizens sufficiently solvent to make contact with an inter- mediate credit bank. In designating $200,000,000 of the re- construction fund for the particular use of egriculture Chairman Jones would make itepossible for the wider estab- lishment of local credit affiliation with the intermediate banks and at the same time assure the banks of sufficient capi- tal to ease the complaint that they, in many cases, are not placing sufficient velue on farm collateral to loan to the farmer the full amount he needs to continue business. _— Sales. High. Low. 2:58. .10 47 46 46 52 49% 87 Util Pow 6%8'47. Vanadium St 58’41, Vienna 6# 52.... Va Ry 1st 5362, Wabash 4%s ‘18 Wabash 1st 6 52 48 86% 13 Té% 50 13% 22 13 4% 50 Walworth 63 A '45. Warner Sug 7s '41. Warsaw 78 58. ... Wt Sh 18t 48 2341. West E1db bs 44 West Md 48 ‘52 West Md 5%s 717 West Pac 55 46 West Unfon 58 '51. Weet Linion 53 60. Wes* I'n fies 38 Wh Sew Mch 8s 40 Wilks B & E 1st 5s. Wil & Co Ist 63°4 Wis Cent gen 4536 yokohama 63 r Yxstn SAT 5s A'78. Ygstn S&T 53 B'70. 1 46 18 5 10 4 5 2 4 3 2 11 2 4 10 17 6 3 1 % 1 3 2 2 3