Evening Star Newspaper, January 31, 1932, Page 66

FINANCIAL. SONDS AELOWER N QUETMARKET U. S. Issues Provide Excep- tion to General Drift of Prices. BY VICTOR EUBANK, Associated Press Financlal Writer, NEW YORK, January 30—With the exception of United States Government securities the bond market today slip- ped quietly to lower levels. Good news was conspicuous by its absence and traders exhibited growing caution in the matter of new commitments. Federal loans, however, were in some deman higher prices. The Treasury Issues advanced around half a point and the Liberties were up fractionally. « Disturbanices in the FPar East con- tinued to affect Japanese obligations and most of them added 1 or 2 more points to their losses of yesterday. Con- solidated Electric Power, Japanese gov- ernment 6'5s, Oriental Development 5'2s and Yokohama 6s were subjected to_considerable pressure. Reports ment between the rail executives and union leaders on the wage reduction negotiations acted as a deterrent to transportation securities. Practically the entire carrier section registered declines, although they were moderate in most cases. Dealers point out that the railroad lens, although sagging during the past few days, are still many points above their lows of December. Utility mortgages showed some rally- ing tendencies, but their tone was gen- erally irregular. The industrials de- clined in varying degrees. The foreign catemory was mixed. German 7s were slightly higher and Italian 7s advanced. Baltimore Markets Bpecial Dispatch to The Star. BALTIMORE, Md., January 30.— Under moderate receipts and a fairly good demand the live poultry market, with the exception of old hens, holds steady to firm, with all desirable stock meeting with ready sale, but poor, thin fowl is hard to move at uncertain val- ues and mostly at discounts. Young hen turkeys, 8 pounds and over, are bringing 28 to 30 cents a_pound, and gobblers, 12 to 15 pounds, 23 to 25, but old hens, toms and large gobblers, as well as crooked breasts, are slow sale at 20 to 22 for the former and 16 to 18 for the latter. An improvement is noted in the demand for mixed colored young chickens at 17 to 20 for medium to large, but Leghorns will not bring over 14 to 17, and all poor, thin stock is neglected at 11 and 12. Old hens con- tinue draggy and very little life to the demand at 13 to 18 for-stock weighing 3! pounds and over, but Leghorns will not bring over 14 and 15, while all poor, light fow], as well as old roosters, are generally neglected at 10 to 12. Capons are in fair receipt, with all large, fat birds selling readily at 24 to 28, but smaller, as well as slips, move slow at 20 to 22. Choice fat young ducks in fair demand at 15 to 20, but stock un- der 4!; pounds is hard to place at 12 and 13. Demand for geese limited, and under ample receipt the market\ is dull at 14 to 17, but all poor, thin stock is not wanted at any price.. Guinea fowl and pigeons holding steady and un- changed at 30 to 60 each for the former and 20 to 25 a pair for the latter. Egg Prices. The egg market continues easy under fairly liberal receipts and demand slow, with prices in buyers’ favor in sym- pathy with other leading markets. Dealers generally in buying regular firsts in preference to paying any premium for henneries which, unless very fancy, have to be sold as firsts. The market closed today at 16% cents a dozen for nearby firsts, s de- cline of 1'; cents & dozen under open- ing prices Monday and 16 for current receipts. Market for white potatoes, holds steady under moderate receipts and a fair demand, but the prices show no change at 75 to 1.00 per hundred pounds. Sweet potatoes, in generally good demand and market holds steady at 1.00 to 1.25 per barrel, while yams show a slight advance at 75 to 1.25, with ungraded No. 2 stock selling most- ly at 50 to 75. Receipts of native and nearby den truck have been generally light the past week and values show an in- crease on some lines at the following quotations Kale, 20 to 30 bushel; onions, 3.00 to 4.00 per 100 pounds; oyster plants, 4.00 to 5.00 per 100; spinach, 25 to 65 bushel; washed turnips, 15 to 40 ham- per. Live Stock Prices. ‘The live cattle market continues dull and in active and while values show little change from last week only choice fat stock attracts attention and all common undergrade cattle move slow at inside prices. Quotations today at Light Street Wharf: Beef cattle, first quality, pound, 6 to 7; common to medium, 3 to 5. Bulls, as to quality, 2!2 to 4. Cows, choice to fancy, 4 to 5; common to fair, 2 to 3 Oxen, as to quality, 312 to 4. Calves, veal, choice, 8 to 8!;; large, fat, 7 to 7Y, large, rough, 5 to 6; common, thin, 304 Sheep, to 2l5. Spring lambs, choice, 5!, to 6'%; fair to good, 3 to 5. Hogs, straight, 4 to 4!2. Sows, 3 to 3 Stags, 2. Live pigs, 8 o 10. Bhoats, 6 to 8. - Closing grain quotations: Wheat—No. 2 red Winter, garlicky, spot, domestic, 62; February delivery, 62. Corn—No. 2 yellow, domestic, 43a44; cob corn, 2.00a 210 per barrel. Oats—No. 2, white, domestic, 35a36; No. 3, white, domestic, 34a35, Rye—Nearby bag lots—40a45. ARTISTS NOW CAN SWAP WORKS FOR NECESSITIES Paris Exchange Salon Solves Prob- lems of Fainters and Merchants. PARIS—Recause there is overproduc- tion of paintings and because there is underconsumption of general commodi- tles, the Exchange Salon has been created in Paris. There you can swap & still life for & pair of shoes or a Bea- scape for a Winter overcoat. The salon has the patronage of the minister of commerce and the under- secretary for fine arts, each anxious to fight depression in his particular sphere. If the artist cannot sell his canvases, and if the haberdasher cannot sell his shirts, resort to barter may lead to an exchange of wares to mutual benefit. Money is not excluded entirely, for it is possible that a sculptor with sev- eral busts on his hands would have no use for the antique furniture cluttering up a curiosity shop. It has been noted that the budding Whistlers from the Latin Quarter are readiest to exchange their paintings for barrels of wine. — NUMBER WAR PENSIONERS France Pays 2,500,000, Chamber of Deputies Learns. PARIS—Figures gsked by the Finance Commission of the Chamber of Dep- uties have just been issued, showing 1 4 the number of pensioners in France resulting from the war. The total amounts to more than 2, 800,000, divided as follows: Disabled and wounded, ' 1,089,000, widows and hans, 644,000; parents of dead mmm.m. rom Chicago of a disagree- | gar- | UNITED STATES GOVERNMENT. 1931y High. Low. Btock and dividend. 10223 9711 Lib 3% s 1932-47 10316 9826 Lib 1st 4%s 1932-47 106 5 9844 Lib 4th 4% s 1933-38. 10316 9030 108 18 , 90 20 10722 9416 10922 9726 US 114 8 1002 US Low. 5 High .. 9418 98 16 9915 9124 90 10 924 4= 96 16 438 1947-52 Stock and dividend. Abrem-& Straus by s'43 Alleghuny Co cv 58 '44 Am Chain 65 1933. Am 1 GChm 6%a 1949 Am Internation 6% ‘¢ Am Natural G 6%s ‘42 % Am Sm & Ref 18t 6 Am Sugar Ref 6s 37 Am Tel&Tel cv 4% °39.. Am Tel & Tel 8 f b8 Am Writ Pap 65 '47.. Argentine 68 Jun Argentine 65 A '57. Armour & Co 4%8°39, Armour of Del 5843, Atlantic C L 1st ¢s '62. Atlantic Ref deb bs'37 Australia 65’55 Austria 78 ‘43 B & O gold 4s'48. B&Ocv4%s'33 Balto & Ohlo b3 48 B& OQref 55’95 B&Oret bs Balto & Ohio 68 ‘95 . B&OPLE&W Vads... B& OS W Div bs 50 Bangor & Aroos 4s '51. Bank of Chile 6% 8 '67. . Bank of Chile 6% s 1961.. Belgium 6s '56. .. Bell Tel (Pa) ref 5s '48. Brazil 8s°41. .. Broadwy & 7th Av Brooklyn Manb 1st 68 A, Brooklyn Union 68 '50.... Canada 63 53.... Canada National 4 Canadian Natl ¢ %8 ‘67 Canadian Natl 4% 8 '68 Can Nat July 63 '69. Canadian Natl 58 ‘69 Oct. Canadiar Pacific deb 4 Ceutra; Pacific 48 ‘49 Centra, Pacifio Certain-teed 6% s 1941 peake Corp k: Ob gen 4% Ches & Ohio 434893 A Ches & Ohio 4 %8 B ‘95 ChiB&Q4mal 1. Chi B & Q ref 6s 11 Cb & East L1l gen b8 '51.. Chi Great West 4 Chi M SLP & P b8 ChiMStP&P Chicago&Nwn cv 4% s Chi& N W 634836 Chicago R; ChiR 1 & Pacref 45°34... Chicago Rock Isl 4%3 60 Chicago RI4%SA....... Chi Union Station ¢ Ae. .. Chile Republic 63 1960. .. Chile Copper 6s '47. . . CCC&StLrt4%sB'TT. CCC&StL6aD.... . Cleveland Term 68 B '73.. Cleveland Terminal 6% 5. Colombia 6s 1961 Jan Colon Oil 6s'38. Comm Invest 53849, Con Coal (Md) 1st ret 5s. Cuba R R b8 ‘62 Cuba North 6%s '42. Czechoslovakia Denmark 5%s 1966 Denmark 6s 42, Den & Rio G Den & R G West 68 ‘78, Dodge 65 '40 Dugquesne ¢%s 1967. Dutch East indies 65'47. Dutch Bast Indies 63°62. . Erfs con 43 '96. Erfe gen lien 45 '96. . Erfe ref 63 °'67.. Erie 5u'75 French 78 '43. French T%s'¢1. Gelsenkirchen Min 6s 3¢ General Cable 6% 8 1947.. Gen Motors 6s ‘37 . Ger Gov 6% 8 65 GermawBank German 78 '49. . Goodrich (BF) 6% Goodyear Rub bs 1957 Grand Trunk s £ deb ¢a. Grand Trunk 7s ‘4 Great North 4387 Great Nor gen 5%8 '52. Great North gen 78 '36. Greek 63 1968. . Havana Elec Ry 6%8..... Hudson & Man adj 68'67.. Hud & Man ref 58 '67.. %« Humble O& R5%s'33 Illinois Cent ref 4s ‘55 [llinois Central 4% s "€ Inland Steel 4348 1978. Inter Rapid Tran 63’66 Inter Rap Tr 6a sta "66. .. Inter Rapid Tran 6s'32 Inter Rapid Tran cv 7 Inter Cement 68 '48 Inter Gt Nor adj Inter Match 47 Inter Mer Marine 68 Inter Paper bs A '47 Inter Ry Cent Am 6 Int Tel&Tel ov 4% Irish Free State Low. Close. Chge 9416 +.12 986 +.10 9911 +.18 9124+1.07 90 10+1.06 942 922 9 6 96 9 10015 1007 1009 Low. Close. 83 87 87% 67% 69 3% 93% 101% 101% 95% Net . Btock and dividend, Iraly 7s'51 Japanese 6%s '54. Kan City South 3s 1950 Kan City South bs '50 Kan City Ter 1st 4 '60. Kan Gas & Elec 4%s 30 Kendall 5% s 48 (war). Kreux&Toll 6a ot wi ‘59 4% Lackawanna Ste Lacledeb%s D ‘60 Lehigh Val cn Liggett & Mye: woew’s Inc 6 Louis & Nash uni 4s "40 Market S8t Ry 78 A "40. ... Mexico 45 1904-54 Midvale Steel b5 ‘36 Milan 6%s '52. “es MIEIR & L 18t ref 6 Mo Kan & Tex Mo Kan & adj 67, Mo Kan & Tex pr In bsA. Mo Pacific gen 4 . Mo Pacific 68 G. 5 Missouri Pacific 6s H '80. Montana Power 58 1943. . Nassau Eleo 48’51 Nat Dairy Prod 6%s 48 Radlator 6%s 1947 Netherlands 63 *72 New South Wales ' N Y Centdeb ¢s'34. N Y Cen ref imp 6s 2013. . N Y Centdeb 6s'35.... NY Chicago & StL 4%s 'T8 YCh& SLref6%8A Chi & StLouis 63 '32. Edison 1st 6348 Z2ZZZ2Z72 Norfolk & W cn 45 '9 North Amer Ed 65 '57 North Pacific 38 2047, North Pacific 48 '97. North Pacific 68 D 2| North Pacific r 1 63 2047 Northern Staf Norway 6%s. Ore Wash 1st ref 48 '61 Para-Fam-Lasky 6s 47 Paris-Lyons-Med 6s '68 Paris Orleans 6%s 1968. . Penna cn 4%5 1960, Penn gen ¢%s '65. Penna RR 4 %8 '70 Penn ¢%s '63. Penn 68 196 Peru 63 '60 Peru 7s. Philadelphia Co bs '67 Phil&Read C&l 68 w1'49. Philips Petrolm 63 8'39. Pireill Co of Italy 7s ‘52 Pittsbgh&WVa 4145 C" Poland 85 '50 Postal Tel & Cab 55'33... Queensland 6s 47, Queensland 7s ‘41, Reading ¢%s'97 Reming-Rand 6%s '47. Rhinelbe 7s. .. o Rnine Westphalia 6s'63. . Riode Janeiro 88'46. ... Rio Grande Do Sul 63 '68. Rome 6%s '52. - SLIM&SR&G ¢s'33.. StL &S F prin4s A 60.. StL&BF 4%s'718 St L & San Fr 68 B '50 St Louls 8 W con 4s'32, StPKCS Line 4%s'41 Sao Paulo State of 8 '36. Seaboard A L con 6s ‘45 Serbs.Croats&Slavis'62 Serbs Croats Slov §8'62. . 4 Sinclair Ofl 78°37.. Stinclair Crude Ofl 6%s. .. Sinclair Pipe Line bs '42.. Southwes Beil Tel 55’64 South Pacific 4%8'68. ... Southern Pac 4145 '69 ww Southn Pac Ore 435 '77.. Southern Ry gen 4s ‘56, Southern Ry 1st Southern Ry gen 6 South Ry dev 6%s '56 Stand O11 N J 6 & Stand O1l N Y 4%8 61 5 Swiss 5%846.. 5 Texas Pacific 58 B 77 Texas Pacific 58 C'79, Third Ave st ref 45 Third Ave adj 5s 60 4 Toho Elec Pwr 73 '55 Union Pacific 1st 48 "47... Union Pacific 45 '68. Un Pacific ref 4s 200 United Drug s ‘53 Utd Kingdom 5%s U 8 Rubber 1st & ret b % Uruguay 6s 1960... Utah Power & Light 6s. .. Utilitles P& L 5% 8 '47... Vienna 6s 1952..... Va Ry & Power b5 '34. Virginia Ry 1st 58 '62. High. Net Chge. + % ~b% Low. Olose. 7 88 1% B9% 84 67 67% % 8414 691y 4% 58 9614 97% 101% 101% 5l 52 93% 95% 881y 90% + % 1% -1 4T o+ % 354 — 7 5614—10% 1% —1% -1% -1 ! Independ_Tr Shrs. | Leaders of Indust B.. 18t O... Wal Wabash 4%8 1978, Wabash 5s B 1976. Wabash 6s D '80.. Wabash 5%3 ‘76 Walworth 6s“4B...... Warsaw 7s 1958. West Shore 1st s 23 t Maryland 4s '5: Maryland 6%s rn Pacific §s ‘46 Western Union Tel 648 Wilson & Co 1st Yokohama 6s '61 . Youngstown Steal 55 '78. 1st 6839, 93% +1% 78% —1 60 —15 68 -1y CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, January 30.—The fol- lowing is today’s summary of important corporation news, prepared by Standard Statistics Co., Inc, New York, for the Associated Press: News Trend. ' As earnings continue to be reported it becomes more evident that December railroad revenues will make a less fa- vorable comparison with the like month last year than November. The first 55 carriers had combined net operating ingomes of $21,123,000 in December, & d%m of 47.4 per cent from December, 1930, which compares with a 46.6 per cent decline in November. The Industries. Ofl—Oklahoma City fleld allowable output cut to 95,000 barrels daily from 120,000. The Companies. Archer-Daniels-Midland Co. common share earnings, six months to December 31, 59 cents. Cluett, Peabody & Co. 1031 common 'lhl-l” earnings, $1.45, vs. $2.53. | Green Bay & Western Ral annual dividend on class B stock; paid $10 on each $1,000 certificate February 9, 1931 Pennsylvania Water & Power 1931 common share earnings $4.78, vs. $4.55. Sears, Roebuck & Co. 1931 common share earings $2.47, vs. $3.01. Westvaco Chlorine Products common | share earnings, year ended January 2, | 1932, $1.79, vs. $2.52 in year ended De- cember 27, 1930. | Alpha Portland Cement received con- | tract from Illinols Highway Department | for 1,300,000 barrels of cement. Colorado & Southern Railway Decem- ! ber net operating income (including Fort Worth & Denver City and Wichita Valley Railway) off 32.4 per cent; 12 quarterly common dividend; formerly paid 33% cents monthly. Du Pont (E. 1) De Nemours & Co.— Cellophane subsidiary files patent in- fringement suit against Sylvania In- dustrial Corporation. Electric Shareholders net asset value December 31, 1931, $3.36 a common share. Floresheim Shoe to defer action on class A and B common until earnings rate is determined. Inland Steel operating 25 per cent of capacity. Key Boiler Equipment defers action on quarterly common dividend until February meeting. National Refrigerating 1931 deficit, $752,286, vs. net income, $1,002,386, equal to $1.30 & common share. Spiegel, May, Stern Co.—Declared $3.25 preferred dividend on account of llccgmulltlcm; paid $1.621, November » 1930, Union Tobacco 1931 net income, $59,~ 331, vs. deficit, $8,716. Westinghouse Electric & Manufac- turing—Subsidiary, Westinghouse Elec- tric Elevator,jgets Radio City contract for 74 elevators. Louisville & Nashville Railroad De- cember net operating income off 38.3 per cent; 12 months, off 32 per cent. National Dairy Products—Sheflield Farms increases price paid to farms for milk by 10 cents a 100 pounds; con- sumer price to remain unchanged. New York Central Rallroad Decem- ber net operating income off 80.6 per cent; 12 months, off 50.9 per cent. American Radiator & Standard Sani- tary declared 10 cents quarerly com- mon dividend; formerly paid 15 cents. Westinghouse Electric and Manu- facturing 1951 loss expected to approxi- mate $3,250,000. General Rallway Bignal—Agreements approved for signal installation on Brooklyn-Manhattan Transit cz?on- tion lines; about $500,000 involved. Atchison, Topeka & Santa Fe Rall- way December net operating imcome off 64.1 per cent; 12 months, off 29.8 per | cent. Southern Railway December net op- erating income off 825 per cent; 12 months, off 58 per cent. Held in Trading Wife for Farm. Roderick Murray of Belfast, Ireland, Y giving his’ wife to months off 13.4 per cent. Curtis Publishing 80-cent | farm. for & Trade Trends By the Associated Press. Construction contracts—Heavy engi- neering contracts awarded in the United States in the past week represented total expenditures of $22,573,000, says the Engineering News-Record. This compares with $16,950,000 in the pre- ceding week and $37,035,000 in the cor- responding week last year. Copper—Copper interests hear that custom smelters continue to offer metal abroad at 7% cents a pound, compared with the recent “regular” price of 7%. Sales effected at the lower price have been moderate, it is sald. Domestic consumers show very little interest in the market, even with second copper available at concessions from the 7- cent level. Cocoa—Manufacturers are said to have bought spot cocoa in good volume in the past week. Prices on the New York Cocoa Exchange declined early in the week on statistics showing 400,000 bags afloat to the United States from West Africa and Brazil, but the week closed with most of the decline recovered. Silver—Sino-Japanese war reports have not altered so far the general aspect of dullness of the market. Be- cause of the situation in hai, native banks in that eity outside the foreign settlement are but the morp important are within settlement. BABY HIKER, 2, STOPPED Brooklyn Child, With 21-Year-0ld Uncle, Is Returned Home. NEW YORK (N.AN.A)—It will be some time before points west of New York see Phyllis Cushing on a hiking | tour, according to late reports. She starfed out with her 21-year-old uncle from their Brooklyn home, determined THE SUNDAY STAR, WASHINGTON, D. C, JANUARY 31, 1932—PART SIX. _— e A A, A N Ny e (Continued From Page Stock and Bates— Dividend Rate. U'S & Forn Secur. U S Frelght..... U 8 Gypsum (1.60). U 8 Indus Alcohol. U8 Leather. ... U S Leather (A).... U S Leath pr pf (1).. U S Pipe & Fdry (2). U § Realty & Imp U S Rubber........ U S Rubber 1st pf... U S Smtg & Ref (1).. U S Smtg&Ref pf 3% U S Steel (2)... 208! U 8 Steel pf (7) Dnited Stores (A). United Stores pt (4). Univ Leaf Tob (3). Univ Leaf Tob pf(8). Univ Pic 1st pt (8). Univ Pipe & Rad. ... Util Pwr & Lt A (2). % Vadsco Sales Corp. 14 Vadsco Sales pf.. 22__Van Raalte 1st pf.. 117 Vanadium Corp % Va-Car Chemical. ar Chem 6% vt Car Chem pf (7). Va Elec&Pw pf (6).. 208 20% Vulcan D'tinning (2) 1480s 69 Vulcan Detin pf (7). 20s Wabash R R. Wabash R R (A). Waldort §ys (1%). walworfh Co. . Ward Baking (A) Ward Baking (B).. ‘Ward Baking pf (7). Warn Bros Pictures. Warner Bros Pict pf. Warner Quinlan. Warren Bros. .. 1931 High. Low. 12% 1% 30% 4% 14% 20% 1% 3% 5T% 10 5% 6 3 5¢ 1 1 93 20% 40% Th 46% Add 00. High. Low. Close. Chge. 23 3% 2% 3 14 214 200508 26 3 2 1 Bb% 2) 1981 Hish. Low. Net. 4% W 49% West Pa 56 West Pa 88 West Pa 93% West Pa 8% Western 644 W Y 5 22% Welting 6 7% White M 3 15% Worthin, 46 Wrigley . EEFE FEFFF 29 78 % 14 12 Ygstwn F1l+4+ +1+1 101 4% 1n Atoek stock. 2% in stock. 3% i stock. m Paid stock. 13% Warren Fdy & P 1.20 2 Wesson Oll&Sno(2).. son O&Sn pf(4). 20 White Rock (4). . 7 White Sewing Mach. White Sewing M pf.. 2% Wilcox Oll & Ga 1% Willys-Overland, ... 14% Willys-Overland pf. % Wilson & Co. ... . 1% Wilson & Co (A) 16 Wilson & Co pf. 35 Woolworth (2.40 T% Wright Aeronautical 110s % Zenith Radlo........ 6% Zonite Prod Corp (1) Dividend rates as given in the above table are the payments based on the latest qusrterly or half-yearly declarations. xEx-diviend. sless than 100 shares. FINANCIAI® NEW YORK STOCK EXCHANGE Btoek Divia an, end "fate. An]u’ 3 2 Elpf (6)... 1408 Elpf (7)... 1208 Pwrptf (8). 1208 Pwrptf (7). 290s 107 Dairy (A).. Nt Hish. Low. Close. Chse 18 12y 13% —1 house (23). 8014 Westinghse 1st (3%) 1208 Weston lec Instru 3 otor. THLt++1 1+ EFFEFEFFES { o o & gton Pum 11 = (Wm) (4).. 8% Yale & Towne (1)... 16% 3 Yellow Truck. 6 Young Spring& % 13% 1 (1) Sheet&Tube. 1 2 2¢ nnual eash tPartly extra Plus 1Plus #% in stock. s Pald last year—no rej Pay 1 Plus 50c {n spesial this year—no rogular o Plus 2%% in stoek KEEPS U. S. CITIZENSHIP BY 1.45-MILE MARGIN Ship's Log Shows Man Returned Just Before Year’s Leave Expired. NEW YORK.— Pederal Judge Gal- ston has decided that Ernest Jan Zilver, formerly of Great Kills, N. Y., but now in Holland, won his right to American citizenship by exactly 1.45 miles. The Labor Department sought to re- voke Zilver's citizenship because he had failed to reveal he was absent from the United States for one year between the date on which he was granted citizen- ship and the date on which the papers were issued. Zilver, howevér, argued that before the year expired he was within the 3- mile limit, the territorial limit of the United States. the hour the 365th day expired, the ‘shlp was 1.45 miles inside the 3-m| line. INVESTMENT TRUSTS NEW YORK, January 30 (#).—Over- the-counter market: A B C Tr 8hrs D A B C Tr Shrs E Am Am Am Am Am Am Am Am Am Assoc Stand Oil Bansicilla Corp . Basic_Industry . British Type Inv Chartered In: Chartered Inv pf Chelsea Exch A.... Chelsea Exch B Cumulative Tr Sh Corporate Trust .... Corporate Trust A A Diversified Tr A... Diversified Tr B Diversified Tr C Diversified Tr D. Incorp Investors Incorp Invest Equit Int Sec Corp Am A... Int Sec Corp Am B.. Int Sec Am 6% pf Int Sec Am 6'2%% Inv Tr N ¥ Coll A Invest Trustee Sh Leaders of Indust A.. ot Nor Am Tr Shares . Nor Am Tr Sh 1955 Fea T Enstg ., Second Int Sec A Second Int Sec B. .l Sec Int Sec 6% 1st pf Secur Corp Gen $6 pf... ™ Stand Am Tr Shrs Stand Collat Trust State Street Invest.. Super of Am Tr A Super of Am Tr B, Super of Am Tr C Super of Am Tr D Trust Shrs of Am Trustee Stand Inv C Trustee Stand Inv D Trustee St Oil A...... Trustee St Oil Shrs B Trusteed N Y C Bank. Trusteed Am Bk Sh. Am B A Twentieth” Cent ‘Fixed Tr. msuscntio s cunlama IR 130 First Mortgage Investments Denominations $250 and l', A 6% return with absolute safety for savings. Thos. E. Jarrell Co. REALTORS 721 10th St. N.W. LOW PRICED STOCKS sure vour NAtonal 0765 to walk to San Antonio. Two miles from the house a police- stopped the cross-country march s The log of the ship showed that at| 'PERMIT SYSTEM I BY GEORGE E. DOYING. The National Association of Railroad and Utilities Commissioners does not favor the proposal submitted by Sen- | ator Couzens of Michigan for a mere “permit” system of control of inter- state trucks operated for hire, with no showing of convenience and necessity | and no regulation of rates. The association, through its Legis- | lative Committee and a special Com- | mittee on Motor Vehicle Legislation, | will appear before the Senate Commit- tee on Interstate Commerce when hear- | | ings are begun on February 1 on Sen- ator Couzens' bill and will urge that | the interstate trucks should be regu- lated in substantially the same man- ner as may be applied to interstate | busses. 3 Favors Rate Regulation: This course was decided upon at a | meeting of the assoclation’s commit- tees here this week with John E. Ben- ton of Washington, general solicitor of : | rates and service of 5 in his bill that the freight carriers the organization. 'Andrew R. McDon- ald of the Wisconsin Public Service Commission, is chairman of the Legis- lative Committee and J. Paul Kuhn of the Illinois Commerce Commission is chairman of the Motor Vehicle Com- | mittee. These committees were authorized to | Tepresent the association in a resolu- | tion adopted at the annual convention | in Richmond, Va., last October. It was resolved also that the association “fa. | vors the enactment of Federal legisla- N TRUCK RATE CONTROL AROUSES OPPOSITION shall receive permits from the Inter- state Commerce Commission “if it ap- pears that the applicant is fit and able properly to perform the service pro- ed.” No provision is made for regu- ation of rates of freight carriers. The Michigan law undertaking to regulate private contract motor car- riers has reached the Supreme Court of the United States in an appeal from a decision of a Federal District Court sustaining the validity>.of the | statute. The lower court held in an | action by Ogden & Moffett et al,| against the Michigan Public Utllities Commission that the law does not | undertake to regulate the business of private motor carriers, but only their | operations upon the highways. The statute is being assailed on the ground that it is discriminatory in exempting | certain vehicles and that the regula- | tions imposed upon contract carriers | are not appropriate to a business not | affected with a public interest. (Copyright, 1932.) QUARTERLY DIVIDEND. The directors of Follansbee Brothers Co. have declared the regular quarterly cash dividend of 1), per cent on the 6 per cent cumulative preferred stock, payable March 15 to stockholders of record February 29, 1932. ; tion to provide for the regulation of the magor carriers en- | gaged in interstate (nsportation for | hire upon the highways” This has | been understood to include regulation of contract as well as common carriers. | The Couzens bill provides for the | regulation of interstate busses in sub- stantially the same manner as has heretofore been endorsed by the State commissioners, the bus operators and other interests. The last bill on this subject, commonly known as the Park- er bill, was passed by the House in the last Congress, but failed to re- ceive approval in the Senate. With the bus features of the present | bill the State commissioners may be said to agree, and they would like to see the bill enacted into law even if ‘Lhere is no legislation covering the | truck operators. But if trucks are to be regulated, the commissioners be- | lieve, they should be subject to the same degree of control, including the | requirement to secure certificates of | convenience and necessity and regu- lation of their rates and service. Permit Clause. Senator Couzens, however, provides Money on Hand to Loan on First Deed of Trust 67 Interest Reasonable Commission and Prompt_Replies to Applications JAMES F. SHEA 643 Indiana Ave, N.W. T tence. ITALIANS INCREASE BUSINESS IN ASIA 12% —1% | Greater Advances Are Also Ex- pected in Trade With South African Countries, Italy 1s making progress in Asiati markets, where her pn:flcu in the pssi have been hardly known, and even greater advances are expected in the South African countries, according to the Genoa correspondent of the Ameri- | can Chemical Society, who attributes the pick-up to improved organization. ‘The state guaranty on export credits is especlally designed to aid trade with Russia, as there are practically no risks in sales to any other country,” the correspondent says “The preliminary survey of markets, and their continual study, formerly fol- lowed only by single, private agencies without any posssibility of control, is now facilitated by the activities of the Italo-Oriental Chamber of Com- merce, which gathers and co-ordinates the news from all Orfental countries and assists Itallan exporters in all theisr d}e‘ul}n S. “Such informaticn as the t; f merchandise wanted, the best mogs of packing, etc., is given to producers, either directly or by means of weekly bulletinsy so that they may follow the different markets and satisfy the vari- o e arop “'The drop in the value of the Eng- lish pound has caused unlcrcsee‘n changes in the Itallan chemical in- dustry, in spite of the efforts of the government to prevent fluctuations in | the value of the lira. The industry has suffered great losses in all English credits, besides a lowering of all de- posits in English money. “It has had to withstand the large import taxes in England and other countries, thus greatly diminishing ex- ports, and also increased foreign com- petition. This has necessitated an in- crease of 15 per cent in import duties to induce greater consumption of do- mestic products. “Certain products, palm and coco= nut oils, copper and its alloys, am- bergris, calcium pyrolignate, mineral lubricating oils, benzene, toluol and xylol, calcined or basic magnesia, vegetable and animal oils, metal ores, calcareous rock, chemical fertilizers, essential ofls, etc,, are exempt from this import tex.” Woman to See Executions, Mrs. Foster Welch, England's first woman sheriff, plans to attend all ex- ecutions. General Insurance Hold-up, Workmen's Compensation Forgery Thos. E. Jarrell Co. 721 10th St. N.W. 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