Evening Star Newspaper, January 23, 1932, Page 15

FINANCIAL, THE EVENING STAR, WASHINGTON, % e D. C, SATURDAY, CURD SHARES 5P " TOLDWERLEVEL Leaders Register Small De- clines in Slow Week End Market. Stocks sold in 100-sh: ~Prev. 1931.~ High. Low. 10 19% 115% 224 5% 29% 5% 12% 3% by 9T% 1% 19% and Bales— Dividend Rat Acetol Prod A. AEf3 ANSCO......... Ala Pow cum pf (7). 1 408 4 Allled Mills Inc Am Com Pow B.. % Am Cyanamid B..... Am For Pow wa: Am Founders Am Gas & Elec (11). Am Maracaibo. Am Superpower Am Util &£ Gn B vte. Appalachian Gas. AssoG&El (A) b5 % . Asso Rayon. . . Atlas Utl] Corp. Babcock & Wilcox (4 Blue Ridge Corp. Blue Ridge cv pf(a3) Brazil Trac Lt&P(1) Buff N&EP pf (1.60). Bunker Hill & Sull. Cable Radio T vtc Canadian Marconi. .. Celanese pf (7). 2 Celanese Corp 1st pf.350s Cent Pub Sve A b5%. Central States Elec. . Cities Service (g30c) Claude Neon Lts Inc. Cleveland Tractor. Colon Oil . Columbia Pictures. Columbia Pic vtc. ... Colum G&E cv pf(3). Col O11& vte. Commwlth Edison Cmwlith & Sou war. . Conspl Auto Merch. . Con Gas Balto (3.60) nt Shares cv pf. ... Cooper Bessemer Cord Corp. . Corroon & Reyno! Corroon&Rey pf(A) Creole Petroleum Crocker Wheeler. Curtiss Wrgt Export Cusi Mex Mining. Darby Petroleum Dayton Alr & Eng. Deere & Co. . De Forest Radlo.... Detroit Afreraft. Durant Motors. East Utll Assoc cv. Elec Bond&Sh (b6 % ) Elec B & Sh cu pf § Elec B & Sh pf (6). Elec Pow Assoc A (1) Elec P & Lt op war.. Europ E Ltd A (60¢). Ford Motor. Can., A. Ford Mot Ltd 36 3-50 Fox L'heater (A).... Garlock Pkg (1.20).. Gen Aviation.... Gen Empire (1) Gen Theat BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, January 23.—The Curb Exchange drifted slowly downward to- day without bringing out increased of- | ferings. Electric Bond & Share was off slightly along with Cities Service, Standard Oil of Indiana, Ford Motor, Ltd.; Deere & Co., and American Gas & Electric. ‘The signing of the emergency finance bill at Washington had been discounted and traders expected nothing in the way of constructive news from the | Chicago railway wage parley today. | Many simply withdrew to the sidelines to await week-end developments. The opening of such overseas markets as were functioning today was quiet and lower, which caused trifling declines in | Toreign shares here. Reflecting & 75 per cent drop in liqui- dating value per share in the past year, United Founders was offered freely in the first hour. Goldman Sachs and National Investors also eased, but Shen- andoah preferred inclined to firmness. United Light & Power A has re- mained relatively firm, even when other utilities were heavy, but the B shares, for which United States & In- ternational Securities Corporation is reported to have paid $15 when they ‘were acquired from American Common- wealths Power Corporation’s receivers, have not appeared this year. The B shares showed & net loss of 54 points during 1931. The recent rise in Hudson Bay Min- ing & Smelting, during a period when most coppers stood still, was explained today by an official statéfent that pinc and copper output are near ca- pacity, averaging about 1,500 tons of each metal a month. International Petroleum, which for months last year was accumulated by Canadians, has been somewhat slow and lower lately because of its declin- ing output, chiefly in Peru and Co- lombia. Petroleum production reports from Venezuela today explained some of the recent selling of shares of com- panies operating in that country, whose oil output in 1931 was 13 per cent less than in 1930. A lower opening in Brazilian Trac- tion followed the annual earning state- ment showing net of $20,910,417, against $27,549,594 in 1930. | The increase reported in silver stocks in this country during the last year caused some offerings of silver mine shares today. Bunker Hill Sullivan Mining sold off nearly a point on a few trades. Gorham Manufacturing Co., makers of silverware, did not immedi- ately respond to the declaration of a dividend of 40 cents a share on the common against 50 cents paid quarterly heretofore. Standard Silver Lead Min- ing, one of the lower-priced shares, came out in several big blocks -after Bunker Hill appeared. Pioneer Gold, which was churned about rapidly Thursday on organized operations, was & shade lower, 85 23% 4 8% 1258 Gray Tel Pay Sta 4. 508 Grt A&P Tean v (6). 30s Gulf Oil of Penna 10 Hackmester Lind Humble Oil (12). Hygrade Food Prod.. Imp Ofl of Can (50¢) Insull Inv (b6%). .. Insur Coof N A (2). Insurance Security. Int Petroleum (1).. Int Utilities B.. Int Utilities war, In’state Equ Italian § BONDS ON THE CURB it DOMESTIC BONDS. usands. H; h. Low. Close. 80 80 (Continued from Page 13 1 —1831— Stock and High. Low. Dividend Rate. 9 113 Thermoid Co,. 15% 6's Third Avenue, . 74 Thompson Starrett. . 2'4 Tide Water Asso Oil. 215 Timken-Detroit Axle 1613 Timken Roller B(2). 1% Tobacco Products Bales— Add 00. SET . 2 14 5 2 20 2 gt i 4 i 86'4 Tri-Contl Corp pf( 5% Truscon Steel. 2 Twin City Rap 11} Twin City R Tr pf(7) 13% Underwood-£I1-F (3) 6 Union Bag & Paper., 11 2 Tel Can 55 B '57 Tel Can 55 C, '60 ton Con G 65 '47. Can Nat Ry 4bas '56 Carolina P & L 5s '56 Cent Il P S 5s G /68 T ot nassarten sk 5 B B st & i 4 | 264 6i% | 2054 2| gy Tn Ol of Calif (1.40) Union Pacifie (10).. Un Tank Car (1.60).. Cult Afrcraft Unit Biscuit (2) Unit Cigar Stor Unit Corp (76c). Uait Corp pt (3). Unit Fruit 3).. nit Gas&Im(1.20).. Unit Pice Dys W (1). S Express. - ] S & Forn Secur. U S Gypsum (1.60).. U 8 Hoffman.......,, U S Indus Alcohol U S Leather (A) S Pipe & Fdry U S Realty & Imp. . U S Rubber. .. U S Rubber 18t of... U S Smtg & Ref (1). U S Smtg&Ref pf 3% Us 1 Corpm (4). w 5%as '52 Oleve Elec Illu 55 wh Ed 4 4 26% 26%4 37 Edis El Boston 55 '33 100%s 10 P & L 5s A 2030 55 53% ios '42 467 1 are lots except those desigmated by letter “s.” Stock Add 00. Open. H Aluminum Co of Am 600 5 ~Prev. High. Low. Ol 1gh. % 6% 67 6% 2 9214 3% 4 stock. stock. ) 4 31 T6% 3% 71% 204 Vulcan Detin (4) 26 51 B0% 15 Dividend rates as given in the above payments based on t xEx-divicend e 361 —115 f ol 3% 41% —1% gioex. NEW YORK CURB EXCHANGE Recelved by Private Wire Direct to The Star Office. 1931~ 1% 9% 4 Meniph N Gas (60c).. 4« Moss Gold Mines. Add 00. Open Lake Shor Mines (2). 1 24% Leh Co & Na (1.20).. 104 Lone Star Gas n 85c. Louisiana Lan & Ex. Magdalena Synd..... Mavis Bottling (A) 1 M{dl Sts Pet vtc. A.. Mid West Ut (b8%). Mohawk Mining (1). Nat Fuel Gas (1). Nat Investors..... Nat Pow & Lt pf (6).250; Nat Sh T Sec A 160c. Nat Union Radio. Newmont Mining. .., N Y Shipbuilding Cp N Y Tel pf (6%).... Niag-Hud Pow (40¢) Niag-Hud Pow A w Niag Share(Md) 2 1 1 2 0 6 4 il 27 4 1 1 2 1 s 3 % North European Ofl. Nor W cv pf (3) Nor St Pow A (8). Ohto Copper. . ... Ohlo Ol cu pf (6) PacG & E 18t pf 1%. Pac Western Oil. ... Pennroad Corp (40c) Philip Morgis Inc. .. Phoenix Secur Corp. Pilot Rad Tube A. Plon G M Ltd (12c).. Pltney Bowes (b4 % ) Pittsbgh Plate G (2) Pub Sve,N 11l n p(8) . Pub Util Hold war. . Pub Util Hold xw Radlo Product: Reliance Int A Reliance Manag. .. Republic Gas Corp. . Reynolds Invest St Anthony Gold. St Regls Paper Seaboard Util . le Ind al ctfs(5%).. Sentry Safety Cont.. Shenandoah Corp pf. herwin-Williams(4) nger Ltd rets mith (A. 0.) 4 South Penn Oil (1).. rates in dollars b nt. 2 nPlus 8% in stock, | ——1931— Low. 94 21 157 ) T 11 % 81 “ 1% 17% So. Union Gas Stand Ofl of Ind( 1).. Stand Oil of Ky 1.60. Stand P & L pf (7). tand Silver & Lead. Stinnes (Hugo). Stutz Motor Car Swift & Co (2) 5 Syracuse W Mach B. Tampa Elec (2% ) Tech Hughes (60c) Trans Lux DLPS.. Triplex Safety Glass Tri-Utilitie Tubize Cha : Tung Sol Lamp(1)... Unit Founders. . Unit Gas Corp. Unit Gas Corp Unit Gas pf (7)..... Unit Lt & Pw A (1). Unit L & Pwr pf(§) Unit Milk Prod Util Po & Lt (b10%) Walitt&Bond B(80c). Walker. H (25¢) Western Alr Exp. Woodley Petroleum. RIGHTS—EXPIRE Com Edison Feb1... 7 1% PubSveNII .Feb 1 2 11 d_on last quarterly artly extra. IPius 4 b Payable in stock. € Plus 6% in stock k Plus 10% in_ stock. b Paid last ¥ 184 2% 27% an 4% 26 OO o SIS TN P of an- % in stock. e Adjustment hPlus 19 in m Plus 3% in o regular rat “Ex dividend. or_stock. 5% in stock. in stock. NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct te The Star Ofiee. Stock and Dividend Rate. U S Steel pf (T)..... United Stores pf (4) Univ Leaf Tob (3) Univ Pipe & Rad. ... Ut Pwr& Lt A (2). Vanadium Corp. Va-Cora Chem. ..... Va Elec&Pwr pf (6). Bales— Add 00, 8 3 i 5 High Low. 1044 87 15 1 108 08 Wabash R R. .. Wabash R R (A) Waldorf Sys (1% Walworth Co. . Warn Bros Pictures. /ard Baking (B)... Warren Broscv pf 3. Wesson O11&Sno(2). West Pa Pwr pf (7). Western Maryland. . Western Pacific. Western Pacific pt 4 Western Union (6).. Westinghse A B(2). 5 Westinghouse (234). 15% 46 3 3 6% stock. b Payable in stock hPlus 2% in stock in ‘stock. D Plus 3%% n stoel White Motors. s White Sewing Mach. Wilcox Ofl & Gas, Willys-Overland Wilson & Co (A).... Woolworth (2.40). Worthington Pump.. Wrigley (Wm) (4).. Yellow Truck. . Zeulth Itadio Zonite Prod Corp (1) 40 20 53 4 19% 53 4% 15 Th Th + % ot he ‘latest Cuarterly or half-yearls decisratigns end. sLess than 100 shares. TPATtly extra. " $Byn TPlus 9% 1 o Tegiiar Tate 2 Pald iast ye o Payable in ca: % 1D stoek X Plus % nPlus 8% in table ar h h or stock i Plus 50c in special b B Eaid this vear—no regula: 1Gatineau Pow 5s '56. 3Gen Vena s 31w IS PLANNING EXPANSION 3 Gen Wat Wk 6s NEW YORK, J uary 23 Motor Car Corporation is conside the acquisition of new product: . o , if obtained, would utilize moy e company’s plant facilities, Presi- dent J. A. Bohannon stated to the As- Press today non explained that the » Peer- || WASHINGTON STOCK EXCHA GE‘ QUOTATIONS AND DAY’S SALES SALES. Potomac Electric Cons. 10075, $1,000 at 100, Columbia Title Ins. Co. 55—$1,000 at 10 at 7. Columbia (6h) Real Estate (81).....""" TITLE INSURANCE, Bid and Asked Prices. ON WAY T0 FRANCE Shipment From New York to Paris Ends Decline of Franc. Special Dispatch to The Star. NEW YORK, January 23—Gold to the amount of $20,474,000 left this country yesterday for France, includ- ing $12,000,200 which had been held under earmark here by the Bank of France. The remainder, $8,473,800, was bullion shipped as an exchange trans- action, the franc having risen above the gold-export point. The value of metal earmarked here was decreased $12,000,- 200 by the shipment, which was the third of 10, ranging from to $12,500,000 each, which the Bank of France has arranged to take home thal it has accumulated in this country. Shipments to France this year now total $51,243,500, and from $85,000, 000 to $90,000,000 is still to go. Shipments last ar were $362,161,000. “"In addition to yesterday's shipment to France, $230,000 gold was sent to Switzerland, making ndtctsl (¥h$2“,704r,; 000 of exports for the day. ere wel no imports. The decrease of $12,000,200 in earmarked gold served to reduce the I net loss to the country’s gold stocks for | the day to $8,703.800. |05 Jarst transfer of the series being made by the Bank of France was un- dertaken on January 15, when $12,269, 000 was shipped abroad at the same time that $15,723.000 gold was released from earmark. The second occurred on Wednesday, when $12,000 500 W shipped. - At that time offsetting ea marking operations took place and the net release shown for the day was about $8,000,000 lower than the amount exported. The gold sent to France yesterday as an exchange operation was the first such transaction since last Fall, when they were large. Recently, the franc has sold above the expori gold point almost every day, although it has not taken a sustained position there. Yes- terday further strength in French ex- change against the dollar lifted that currency as high as 3.947 cents, com- pared with an estimated gold-shipping point of 3.93% cents, making available a substantial profit on transfers of the metal from this market to Paris. Paris exchange closed at 3.937; cents, up % point on the day. CHICAGb VI:IVE STOCK MARKET CHICAGO, January 23 () (United states Department of Agriculture).— Cattle, 100 head; compared week ago, fed steers and long yearlings 50 lower; instances 75 on strictly good and choice offerings; general market still under handicap of badly depressed dressed beef market; stockers and feed- ers 25-50 lower; weighty meaty kinds off most; all she stock including light heifer yearlings, lost early week's ad- \vance and closed steady to 25 lower; bulls, 25-40 off; largely 50a1.00 for last two weeks; vealers strong to 50 higher extreme top, long yearlings, 10.75 heavies, 10.50; after midweek break, top on well finished stes 9. bulk short feds, 5.00a7 verage cost for week, approximately 6.40. Sheep—1,000 head; today’s market nominal; for week ending Friday, 78 doubles from feeding stations, 11,10t killing classes unevenly steady to 50 lower; decline largely on better grade lambs; feeders strong to unevenly higher; narrow shipping demand and warm weather depressed the market. Closing bulks follow: Good and choice fat lambs, averaging mostly pounds, 5.75-6.15; several loads, week's top, 6.65, paid on Tuesday; me- dium lambs, 5.25-5.50; throwouts, 4.00- 4.50; fat ewes, 2.50-3.00; feeding lambs, 4.75-5.25. Hogs—Receipts, 8,000 head, including 6,000 head direct; active, steady to 160-220 pounds, 4.00a4.15; top, 230-290 pounds, 3.8024.00; pigs, 23.50; compared. week ago, 10al5 lower; shippers took 1,500 head; esti- mated holdovers, 1,500 head; light 3.85a4.10; light weights, 160-200 pound: 395a4.20; medium weights, 200-250 pounds, 3.85a4.20: heavy weights, 250~ 350 pounds, 3.70a395; packing sows, 350; pigs, good and choice, 100-130 pounds, 3.2543.75. BANK DIRECTORS NAMED Brandywine Stockholders Meet. 10 Pct. Dividend Declared. Special Dispatch to The Star. | ACCOKEEK, Md., January 23.— Stockholders of the Bank of Brandywine |n et in the bank at Brandywine and elected the following directors: R. Hugh Perrie, Dr. R. Early Baden, Charles S. Early, State Senator L. G. Sasscer, R. H. Robertson, Joseph H. Blandford, William T. McPherson and M. R. Nay- or. The directors re-elected R. Hugh Perrie president, Dr. R. Farly Baden chairman of the board; Dr. R. Early | Baden and Charles S. Early vice presi- dents, Willlam T. McPherson cashier, Roland Sasscer assistant cashier, Sen- The bank declared a 10 per cent @vidend at a meeting of the directors on January 1. CHICAGO STOCK MARKET CHICAGO, January 23 (4’).—Follow- ing is the complete official list of trans- actions in stocks on the Chicago Stock change today: 50 Acme Steel . Y 1 A" S ar 00 Am R i 10 Assoc JANUARY 23, $12,000,000 | lights, good and choice, 140-160 pounds, | medium and good, 275-500 pounds, 3.25a | ator Sasscer and C. W. Arth attorneys. | 1932. FINANCIAL. MORE OPTIMISTIC Weekly Trade Reviews Dis- cover Bright Spots in Business World. Spectal Dispatch to The Star. NEW YORK, January 23.—Increas- ing optimism, indicated in trade re- perts from 55 leading cities, appears to be based mainly upon enlarged activity in some of the heavy industries and upon an increased volume of business among wholesalers, according to the weekly review of Bradstreet's. The mercantile agency says in part: | “On the whole, the trade situatton may be said to be slightly improving ¢ | from the after-holiday lull of the first of the year. There is still lack of any |real evidence that demand for mer- chandise is much above the minimum, but there are unmistakable signs that the process of adjustment is making progress. Merchants and other business men are taking, more than formerly, the situation as a madtter of course and ere dealing with it from a realistic standpoint. Such things as smaller !buying power and lack of confidence | are no longer sidestepped, but are being faced squarely as factors which must be overcome. “These trying to make collections continue to have a difficult time and there seems to be little improvement in this important matter of prompt re- payment of debts.” Dun's review says, in part: “Trade reports continue to empha- ze the paucity of stocks in most wholesale and retail channels and the urgency for prompt shipments wherever possible. Confirmation of the low con- 'dition of inventories constantly ap- pears in the year-end statements as issued. “The first signs of increasing dé- | mand for cotton goods have made fur- | ther progress, with the call for gray goods broadening. Sales have reached no sustained volume as yet, but sev- eral of the printcloth, broadcloth and sheeting constructions have been bought much more freely. Consumers still buy with great cautlon and are less attracted by the reduction in prices than they were in the closing months of last year. Many stores are taking in lines of wash goods and sam- ples of new garments for Spring. “Buyers from a wide area of the country are showing more confidence in values. Retail dealers continue to display extraordinarily low prices in their efforts to dispose of stocks, but. trade has been rather backward. To the vagaries of the weather have been attributed the postponement of mar- ket trips by many buyers, and the bulk of the Spring purchasing doubt- less will be deferred until next month.” Decline in Bonds | BY GEORGE T. HUGHES. | The decline in the bond market dur- ing the last month of 1931 was the most continuous of which thers is any rec- |ord. It was a market in which the | buyer fixed his own price. In normal | times quotations for bonds move by | fractions; in December, 1931, they | moved by points, two, three, four and | five points between sales, sometimes more. The price curve, to speak para- doxically, was & straight line downward, or not far from it. Neither the value of the property on which the bonds were a lien nor the margin of earnings over interest requirements was given any weight. That such a state of affairs could have come into being after two years of declining prices for securities was an unprecedented phenomenon. One reason for the collapse was that there was no speculative interest in the bond market similar to that in stocks. The few investors willing to enter any mar- ket preferred to take equities, appa- rently reasoning that there was a bet- ter opportunity for capital appreciation in the share list if and when recovery appeared. The great life insurance companies, normally buyers of bonds in volume, dropped their bids. Commercial banks were out of the market on the buying side. In fact, a great deal of the liqui- dation came’ from banks desirous of strengthening their cash position, s well as a certain amount from banks which had been taken over by the controller of the currency. Some of the selling was to record losses to be written off on income tax returns and some of it was plain panic, selling be- cause the price was going down and for no other reason Now if we grant that the present so- cial order is to be maintained, that the dollar has an_unquestionable stability and that American industry will eventu- ally shake off the depression, the in- vestment bargains in bonds are never likely to be seen again by this gener- ation. | Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md, January 23— White potatoes, 100 pounds, 75al.15; sweet_potatoes, bushel, 40a80; yams, bar- rel, 7521.00; beans, bushel, 1.2582.25; | beets, per crate, 1.50; brussels sprouts, ! per quart, 8al5; cabbage, hamper, 1.00a 150; carrots, per bushel, 1.00al.15; caulifiower, crate, 1.00a1.25; celery, crate, 1.25a2.50; eggplants, crate, 1.50a | 2.75; kale, bushel, 25a40; per hundred pounds, 3.00a4.00; peppers, crate, 1.50a {2.75; spinach, bushel, 25a90; squash, By the Associated Press. Automobiles.—In an Alynu of themo- | tor industry the Standard Statistics Co. says that several factors in the curren! situation make it doubtful that a large- scale recovery can be initiated in the future months. The chief ob- | por tax and low-priced Ford eight-cylinder car are other factors cited against immediate full recovery. Construction. — Engineering News. Record estimates contracts for heavy | engineering construction awarded in the Onited States for the past week at $18,- | 659,000, a decrease of about $10,000,000 | from the preceding week and nearly | $30,000,000 below the volume for the | same week last year. | Lumber.—Another excess of orders over production was recorded in the week ended January 16, according to | the National Lumber Manufacturers’ Association. New business ran 49 per | cent above the 95,549,000-foot produc- tion of hardwood and softwood mills. | Shipments were about 42 per cent in | excess of the outturn. Silver—Stocks in the United States rose sharply in 1931. At the end of the year stocks (including foreign metal) aggregated 6,209,000 ounces, as contrasted with 960,000 ounces a year ago and 529,000 ounces two years ago, | according to the American Bureau of | Metal Statistics. The domestic silver supply at the close of the year totaled | 1,642,000 ounces, against 343,000 a year ago and 160,000 ounces two years ago. PR REPUBLIC STEEL PLANT | INCREASES OPERATIONS | By the Assoclated Press WARREN, Ohlo, January 23.—Oper- ations at the Trumbull plant of the Re- public Steel Corporation have been in- creased and the January pay roll will be 30 per cent more than in December, company officials said today. | A blast furnace of Trumbull Cliffs, | subsidiary of Republic, was blown in | Thursday after being down since De- | cember 5 and 120 more men Will be | employed. | Republic has five of eight open hearth furnaces in operation, and officials said | bruary and March would show an intreasing improvement. | Another Warren concern, Pnckm—d‘ Electric, reported production 10 to 15 per cent greater than that for the last | six months. @be Foening Htar Rivci orel( Rec N The Star Classified wanting them. That vertisements bring such p: the ones you want to reach. regular rates are charged. 11th and Park rd.—Arm- strong’s Pharmacy. 14th and P sts.—Day'’s Pharmacy. 1135 14th st.—Marty’s _Cigar & Magazine Store. 17th and Que sts.— Ken- ner’s Pharmacy. . 15th and U sts.—G. O. Brock. 2912 14th st—Colliflower Art & Gift Co. 3401 14th st.—Bronaugh’s Pharmacy. 14th and Buchanan sts.— Hohberger’s Pharmacy. 14th st. and Colorado ave. —O0’Donnell’s Pharmacy. 3208 Mount Pleasant st.— Mount Pleasant Cigar and News Shop. 1823 Columbia rd.— The Billy Shop. 2162 California st.— Co- lodny Brothers. Wardman Park Pharmacy. 215 N. Y. ave.—Saaitary Pharmacy. 1st and K sts.—Duncan’s Pharmacy. 7th and K sts.—Golden- berg’s (time clerk’s desk). 7th and O sts.— Lincoln Drug Store. 7th st. and R. L ave—J. *x A—15 92074000 N GOLD |REPORTS ON TRADE | [reade_eenas | §11,179316 SOUGHT BY MUNICIPALITIES Requirements of 29 Cities Included in Issues for Next Week. Special Dispatch to The Star. NEW YORK, January 23.—A total of $11,179,916 of new municipal issues, representing the requirements of 329 communities, will come up for award next week, compared with this week's revised total of $11,253,777. The weekly average for the year to date stands at $13,833,981. These figures do not in- clude any short-term issues placed pri- vately by the municipalities. ‘The most important issue on next week’s calendar is that of $5,652,000 city of Rochester, N. Y. various im- provement bonds, scheduled for award on Tuesday. On the same day the city of San Diego, Calif., will reoffer an issue of $2,605,000 5 per cent bonds for the financing of the El Capitan dam. This | issue was offered earlier in the month without takers. Considerable impetus has been given the municipal bond market this week by the straightening out of New York City’s financial problems, and as prices on outstanding blocks of the city's bonds have been bid up rapidly, the municipal bond market as a whole been strengthened appreciably. Sales of second-grade municipals, however, con- tinue slow and only communities with high credit ratings are being encour- aged to borrow at this time. Virtually all of the new municipal issues placed on the market this week by the bankers were well received, The two largest issues, $100,000,000 New York City 6s and $4.200,000 city of Bal- timore 4s, were quickly oversubscribed and premiums bid in the open market. Fairfax Bar to Meet. FAIRFAX, Va., January 23 (Spe- cial).—The Fairfax County Bar Asso- ciation will meet tonight in the offices of President George B. Robey. New officers will be elected. A R Chinese boycott of Japanese goods is increasing orders for American textiles in Netherlands East Indles. ADVERTISENENTS EIVED HERE You can reach practically everybody in and around Washington, through a Star Classified Adv. Section is the dne place where people look for things wanted; and folks 's why Star Classified ad- rompt response from just Copy for The Star Classified Section may be left at any of these authorized Branch Offices—assured of prompt insertion in the first available issue. There are no fees in connection with this service—only In the Northwest 9th and U sts—M. H Hunton’s Pharmacy. Ga. ave. and Upshur st— Petworth Pharmacy. 221 Upshur st.— Monck’s Pharmacy. 5916 Ga. ave.—Brightwood Pharmacy. Ga. ave. and Kennedy st. —Lampkin’s Pharmacy. 2901 Sherman ave.—Sher- man Ave. Pharmacy. 6224 3rd st.— Stewart’s Pharmacy. 1905 Mass. ave.— Dupont Pharmacy. 18th and Fla. ave.—Bern- stein’s Drug Store, Fla. ave. and 1st st—N. Reiskin. North Capitol st. and R. L ave. — Parker’'s Phar- macy. 1742 Pa. Louis Krick. 21st and G sts.—Quigley’s Pharmacy. 25th st. and Pa. ave.— Columbia Drug Store. 3315 Conn. ave.—Joll’s Newsstand. 5017 Conn. ave—Higgers ave.—1J. company offered to buy the holdings of stockholders at $3.50 a share be- cause it previously bought stock at that Community Drug Store. 621 Wisconsin ave. and Macomb # | bushel, 1.50a2.50; tomatoes, crate, 1.25a +14.00; turnips, hamper, 10a20; grapefruit, 4! box, 1.25a2.50; apples, bushel, 35a1.50; BONDS. PUBLIC UTILITY. Bror: B ‘ederal Storage pid. (8) d.-Am. Co. com. (1.201). p(d. (6) . 16! French Simpson. 37 11th and M sts.—L. H. | figure, and directors felt that other stockholders who desired to sell should be extended the same privilege. ON TRUST PROGRAM. d J. Reilly, t s Investors Ser ust Cc he Mid trust i | Hotel Commodore 1 |ary 16 to 13. His s s Problems_ in Management.” ust counsel of and associate npanies Magazine, inter trust confer- division, American to be held at the New York Feby ject will be “To- Trust Investment Ut s '34 35 cv the Tagansett at Electric § at P & L . allt 55 22222 t P8 evada Ci 1Wes Tex Ut 35 A /57 625 1Wis Pub 8 523 B 58 91 FOREIGN BONDS ogota Mig BK 7s ' ouot M 0Arg Mtg Bank Ts 47 Co 6s B '5 £ op S 66 tand Iny “5iss '39. B: tand P & L 68 '57 i ber & Ross, 6 vy Chase Club 3.5 Inc 3 « | Columbia Country Club 5.5 | W. M. Cold Storage bs STOCKS. PUBLIC & Tel Co B Pot. Elec. Pow. 51, Wash. Rwy. & Elec Wash' Rwy. & El pta UTILIT Y NATIONAL BANK. Capital (14)... o 12 n (10) 5 | Metropolitan’ (i4) Riges (185).... shington (12} TRUST COMPANY, Amer. Sec. & Tr. Co. | Natl. ‘Sav.’ & Tr. (12) , | Prince Georges Bk. & T) % | Union Trust (8s). 5 | Wash. Loan & Trust (14) | “ | Bank of Bethesda (6%). | Com. & Savings (10) East’ Washington (12) | Potomac (10) v. & Com. BK. (i1} United States (30) Wash. Mechanics (20) American (12)... Corcoran (10) | Firemen's (8) National Union (15), as)..,. SAVINGS BANKS, FIRE INSURANCE, Unlisted Departinent. BONDS. Minimum brice Asked. Army-Navy Club . 780 Eosmos Club_41as Commercial Club 15t Hotel el Heurlch tie Insurance Co National Bank Trust Co. 88" 2 80 40 n Savings Bank | Washington Sa | washington Base Ball Club. | Wocdridge-Langdon Sav. Bank. 1 SOVIET 0IL PRODUCTION. | MOSCOW, January 23 (#).—Produc- tion of ol in the Soviet republics for 1931 was placed today at 142,512,000 barrels, compared Wwith 110,041,666 in 1930, or an increase of 21 per cent. These revised figures were substituted i anuary 11. | for 8, Teport B & ke calcuiated 1On a basis of 43 gallons to the barrel. this output 126,198,000 barrels of 3 ed, compared with 102,467,000 L Tu' '1%3'5."& increase of 2‘3 per cent. 0tp 10° o 5600 QRS DeVry 80 Quaker Oats’ ... . 40 Quaker Oats 'pf.. 100 Reliance Mfg nt] 10 Tel Bond & 20 Sh’ist bt 50 Thompson (J R). 150 Van Sicklen A. 100 Vortex Cup . 400 Walgreen Co '\ 100 Wis Bankshrs G Stock sales today, 85,000 shares. BONDS. 26000 T til 65 1940 . Bond sales today, $34,000, 27 | oranges, box, 2.00a3.75; strawberries, quart, 20a25. Dairy Market. Chickens, young, 18a20; Leghorns, 14al7; old hens, 14al9; Leghorns, old, 14al5; roosters, 11al2; ducks, 12a20; geese, 13al7; guinea fowls, pair, 25a60; turkeys, 15a30; pigéons, pair, 20a25. Eggs—Receipts, 623 cases; current receipts, 17a177¢; nearby firsts, 18a19 Southern firsts, 17a17%%. Butter—Good and fancy creamery, 1 22a25's; ladles, 17a18; process, 20a21; ' store packed, 12a12 ! spectal Dispateh to The star. NEW YORK, January 23.—Despite weakness in both stocks and grain, cot- ton today continued to display consid- erable resistance and closed only 1 to 2 * | points lower than Friday. Fluctuations were the smallest of any session this year, trade buying limits holding the % | list within 2 points of previous closing figures. Spots were unchanged at 6.70. Cotton range: Open. Close. e 64 79 9% 9 5 Low. uly | October Decembe: o 6. 6 6 7, 1 January 7 8: ¥ 9! 3 T (633 4 Receivership Sought. LEBANON, Pa, January 23 (®)—A receivership was sought for the Wrought Iron Co. of America in a petition filed by John C. Brown of Greensboro, Md., former superintendent of the Lebanon plant. Brown alleges that the iron company, & $5000,000 corporation, operated at & net loss of $113,736 in 11930 and that the management is mak- ing no effort to conserve its assets. The company has plants at Lebanon, Scranton ard Duncannon. Forster’s Pharmacy. In the Southwest 10th st. and Va. ave— Herbert’s Pharmacy. 316 414 st—Harris’ Drug Store. 4% and L sts—Columbia Pharmacy. In the Northeast 208 Mass. ave.— Capitol Towers Pharmacy. 4th and H sts.— Home Drug_ Store. 4th and sl': Cap. sts.—Paul’s Drug Store. 907 H‘ st.—Garren’s Music Store. 12th and Md. ave.—Luck- ett’s Pharmacy. 7th and Md. ave—Louis F. Bradley. North Capitol and Eye—Ken- ealy’s Phar- macy. 20th and R. L ave. — Collins’ Pharmacy, Woodridge. 3500 12th st.— Brookland Pharmacy, Brookland. 4th and R. L ave. —John . Biggs’ Phar- macy. Chesapeake Junction —Dr. F. L. Wight, jr. There’s One st.—Harry C. Taft. 4231 Wisconsin ave.—Mor- gan Bros.”’ Pharmacy. Takoma Park, 359 Cedar st. —Mattingly Bros.’ Phar- macy. In Georgetown 30th and P sts.—Morgan Bros.”’ Pharmacy. 3411 M st.—Moskey’s Phar- macy. 1834 Wisconsin Haney's. Wisconsin ave. and O st.— Donahue’s Pharmacy. 35th and O sts.— Sugar’s Drug Store. AVe~— In the Southeast 3rd and Pa. ave.—O0'Don- nell’s Drug Store. 8th and Eye sts. —F. P. Weller's Pharmacy. 11th and Pa. ave. — Fealy’s Pharmacy. 1907 Nichols ave., Anacostia —Healy’s Drug Store. 13th and East Capitol sts, — Lincoln Park Pharmacy. 2204 Minnesota Near You let, prop.