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NOVEMBER SALES - SURPASS OCTOBER D. C. Trade 15 Pct. Below $ame Month in 1931, Bank Report States. BY EDWARD C. STONE. Department store sales in Washing- ton improved in November over Octo- ber, according to the monthly report of the Federal Reserve Bank of Rich- mond, made today. ~Capital sales in November were off only 15.2 per cent from the corresponding month last year, while in October they were 21 per cent lower than in October, 1931. From January 1 sales in this city were 16.1 per cent lower for the first 10 months of the year and also for the first 11 months of the year. ‘The Richmond Bank report shows November retail sales for the fifth dis- trict in 55 leading stores, Jocated in 22 towns and cities, averaged 16 per cent less than sales in the corresponding period a year ago. Cumulative sales in the fifth district since January 1/ were 19 per cent less than sales in | the corresponding 11 months last year. ‘Total sales in 516 stores in the United States in November were 20 per cent less than sales in November, 1931, and | total sales from January 1 through ‘November 30 were 23 per cent less than sales in the first 11 months of 1931. ‘The Richmond reserve district reported the smallest decline in November, 1932, sales in comparison with November, 1931, sales, and also reported the smallest percentage decrease in cumu- _Iative sales since the first of the year. :e:dcentnge clcomx{]nriscvn of :Inlu in periods named with correspon - | riods in 1931: | Citles. Pifth district, 55 stores. Dnited States, 516 stores . 0 tate figures (same stores as abovi Virginia. 13 o8 3% West Virginta, 10 siores. . e Carolinas, 13 stores.. —14.7 —20 The above report shows that Wash- ington made the best November “sales record of any city in the fifth district, ~Prev. 1932~ High. Low. 9% 16% "l % 12 Stock and .’ Dividend Rate. 1% Adams Express..... 4% AmMiliated Prod 1.60.. 30% Afr Reduction (3)... 7% Alaska Juneau (50¢). % Alleghany Corp..... 423 Allfed Chem,& D (6). 961 Allied Chem pf (7).. 4 Allis-Chalmers Mfg. 12. Amerada Corp (2)... 5 Am Bank Note. . 615 Am Brake Sh&F (60c. 18 Am Chicle (13).. 11 Am Comc'l Alcohol 2 Am & Foreign Pwr.. 5 Am & For Pwr pf(7). 2% Am & For Pwr 24 pf. 25 Am Home Prod 4.20.. 5% Am Ice (1).... 215 Am International. 3% Am Locomotive 715 Am Mach&Fdy (80c). 6% Am Metal pf. .. 3 Am Power & Lig 10 AmP&LtpfA‘(2% 15% Am Pwr & Lt pf (3). 3% Am Radiator. .. 3 Am Rolling Mills. ... 13% Am Safety Razor (3) Am Smelt & Ref. Am Smeit & Ref pf. Am Smelt&Ref 2d pf. Am Steel Foundry. Am Stores (2% Am Tel & Tel (9). Am Tobacco (16). Am Tobacco B (16 ‘Am Type Founder. 4 Am Type Fdrs pf.. ‘Am Water Works(1). Am Wat Wks ctfs(1) Am Woolen. 6 3 S g DIV I P - Prererop Anaconda Coppe Anchor Cap (60c) Armour of Il (B) Armour of 111 pf. 3 Assc Dry Goods 17% Atchison - 35 Atchison pf (5)..... 9% Atlantic Coast Line. , 8% Atlantic Refining(1). 28% Auburn Motor (f4).. 13 Avation Corp (Del) 2 Baldwin Locomot... 3% Baltimore & Ohlo. ... 6 Baltimore & Ohlo pf. 62 Bamberger pf (61%).. 9% Bangor & Arostk(2) 3% Barnsdall Corp. . . 30 Bayuk Cig 1st pf(7 10% Beatrice Creamery.. 4'4 Bendix Aviation T% Bethlehem Steel 16% Bethlehem Steel pf.. 913 Bigelow-Sanford. ... Bales— Met. Add 00. High. Low. Close. Chge. 1 5% b 5% 10 + % 57% — W 183 -4 1% — % 80% — % 116 + % v % 20% + % 12% — % + 4% 374 + % 21 15 108 11% 1215 12 12% 8%, 45 2315 26 15% 20% 4% 10% 68% 2% 3% 1% 2 4 24% 9% % 2% 10% SHINGTON, Btock and Bales— Dividend Rate. Int Combustionpf... 1 Int Harvester (1.20). 81 Int Harvester pf (7). 6 Int Hydro-Elec (A) 5 Int Nickel of Can. 18 Int Paperpf........ Int Paper & Pwr pf. 1 Int Printing Ink 1 Int Printg Ink p! Int Salt (1%) Int Silver Int Tele & Island Creek Coal(2) 83% 10 Johns-Marville 15% 5 36% 18% 21 238, 384 1% 16% 21 62 2134 2% 5 3 15 1 2% 4% 6% 10 25 1 1% 30 6 3214 4 Lou Gas&El A (1%). 91y 0 Marshall Field & Co 4 Mesta Machine (1) 61 34 11 215 13% 34 T 2 Kansas City Southn. Kan City Sou pf (2). Kaufmann Dept St. . Kelly-Spring ctfs. .. Kelsey-Hayes Wheel Kelvinator Corp. . Kennecott Copper Kresge (SS) Co (1). Kroger Grocery (1) Lambert Co (15) Lehigh Valley Coal. Lehigh Val Coal pf. . Lehman Corp (2.40).. Lehn & Fink (2)..... Liggett & Myers(t5) Ligg & Myers B (15). Liquid Carbanie Loew's, Ine (3). Loew's Inc pf (6 Loft Inc Loose-V s (2). Lorillard () (1.20). Louisfana Oil 19100 1= 00 1 4 50 =1 Fpo i i s Louisville & Nash Ludlum Steel. McAndrew Forbs(1). McCall Corpn (2)... MecCrory Strs pf (6). MelIntyr Por M(11%) McKeesport T P (4). McKesson & Robbins Mack Trucks (1).... Manhattan Elev gtd . Manhat Elev mod gtd Marine Midid (80c).. S o S 9 artin Parry e Mathieson Alk (13). Melville Shoe (1.20). Mengel Co pf........ @ 3 Mid Continent Petm,. Minn Moline P pf. ... M StP & S S MIsd(4) Mo Kan & Texas pf.. Missourf Pacific..... Missourl Pacific pf Monsanto Chem 1 Montgomery Ward. . Motor Products (2).. Motor Wh Nash Motors (1) » 3 il » S Add 00. High. 6% Li+) * #+l i+ 00 L+ D. C, SATURDAY, R S Y . 1932~ Stock and Low. Dividend Rate 5 West Pa Elec A (7). West Pa Elec pf (6). West Pa El pf (7). 10s 48 West Pa Pwrpf (6). 108 Western Dairy pfA. 2 4 Western Dairy pt B. 2 ‘Western Pacific. . 3 Western Union . 68 Westing’se Afr e Westinghouse Elec.. 99 523 Westinghse 1st (315) 10s 3 Westvaco Chlorine. . % White Sewing Mach. Sales— 208 40s 44 15, DECEMBER Add 00. High. Low. Close. Chae. 43% 431 96% 96% 4 10, 1932. ~PRev. 1032~ High. Low, 374 455 22 ™ i . | 9% 4 gt Net 4315 —1% 4214 + % 48 -1 Woolwo *Unit of trading in stock. a Paid e Payable in cash or stock. | 2% in stock. 1Plus | stock ravabie in scrip Stack and Dividend Rate. 5 Willys-Overland. 1% Yellow Truck..... .. 4 Youngstown Sh&Tu. Zonite Products. 3 Dividend rates as given in the above table 41 | payments based on the latest quarterly or hal m Paid last year—no regular rate. FINANCI Sales— Net Add 00 High. Low. Close. Chge 4 2% 24 245 + W 84 36% 36 36 — % ™ 4 + % rth (2.40) 0 4 3 1% P . 1Plus . b Payable in fFlus 8% in stock. h Plus S1 in special preferred stock. k Plus 3% m nPlus 5% in stock. less than 100 shares. this year—no re RISE IN BROKERS’ LOANS EXPLAINED. Believed Due to Large Scale Bor-| rowing by Dealers in U. S. Is- sues for New Allotments, By the Associated Press. NEW YORK, December 10.—The rise of $39,000,000 reported in brokers' loans can hardly be ascribed to in- creased demands growing out of stock market activity. For during the period | covered by the report public interest was nil and the market level of stocks was improved only slightly. The fact that the entire increase was accounted Stockholders Get Company’s Queries On Laundry Habits Special Dispatch to The Star. NEW YORK, December 10.— The American Laundry Machin- ery Co. is checking up on the laundry habits of its stockholders. The present dividend check en- velope contains the following questionnaire: “How is your family washing done? At home with a washing machine? Sent to local laundry in part or wholly? If you do not now send the family washing to the local laundry was there a time when you did? If so. how long ago? Why did you discon- tinue that practice?” b own “aceous: ugsess s sepecr.| OIL DUTIES REACH tion of conditions which explained an unusually sharp expansion several months ago. In short, large scale bor- rowings by dealers in Government se- curities to finance purchases of matur- ing Treasury short terms as a means of assuring sizable allotments of the new Treasury issues just announced. CANADA ESCAPES BANKING FAILURES UNEXPECTED TOTAL Revenue From Petroleum Imports| Already Near $3,080,000 Mark by November 1. By the Associated Press. Duties collected on imported crude At No Time During World Crisis petroleum gas oil and fuel oil, since the effective date of the special excise tax on the importation of these prod- ucts, to October 31, have amounted to_$2,883,521. The Treasury had estimated origi- nally that the revenue from the import tax on imported crude oil, fuel oil, gasoline, coal, lumber and copper would be $6.500,000 for the fisca! year 1933, Has Stability of Any Institu- tion Been Questioned. CALLS FOR CAUTION "IN INSURANCE FIRMS| | President of National Commission- ers Holds Emphasis Should Be on Safety Factors. By the Associated Press. NEW YORK, December 10.—William | A. Tarver of Austin, Tex., prezident of the National Convention of Insurance Commi:sioners, ca'led upon life insur- ance organizations everywhere yester- day to work for the security of “the children, the wives, the mothers and the (:;]!h?rs making up the American citizen- ship.” Addressing the twenty-sixth annual | convention of the A:sociation of Lflei Insurance Presidents, he said that| “during thece trying times” the genéral theme of the institution should be “to| concentrate your thinking on and to build the thcught of this annual meet- | ing of yours arcund the selution of | human problems to be found in the creation of human values through security.” Insurcnes commisidoners and insur- | ance ccmpanies, he said, have an excel- lent cpportunity for co-operation in the soluticn of these problems. “Standing thus together,” he de- clared, “and joining hands also with | that great army representing the agency | forces of the great insurance com- | panies of the country, we shall be able | to _protect the stockholders, the policy- holders and the public and continue to foster life insurance as a great insti-| basis for that achicvement, a growing healthful public confidence.” AL. STOB LT STFADY ASSESS., ENS Ability to Retain Advance Re- garded as Hopeful Indication. BY GEORGE T. HUGHES, Special Dispateh to The Star. NEW YORK, December 10.—Prices held firm in today’s week end stock market.” There were no important changes either way, but the fact that so much of the gain made’in the five preceding sessions was retained gave the market an encouraging aspect. The news was not especially helpful. The best thing was the sharp recovery in sterling exchange. In London the pound opened at $3.25, against yester- day’s close of $3.23%, and then ex- tended the rise. In Paris 90-day sterling .was quoted at a premium and the belief was expressed that the mar- ket had discounted the effect of ghe December debt paymentst Sterling Opens Higher, On this side sterling opened at $3.25!5, up 17 cents and almost 13 cents above the extreme low. Un- Coubtedly a part of this advance was the result of short covering, but in any event it was felt that some way would be found to meet next week's maturity on the debt to the United States with~ out further disturbance of the British currency unit. The car loading figures were about as expected. On the week the total of 547,461 cars was up 53,579 from the preceding week. This was a drop of 139 per cent from the same week & year ago. However, last week the de- cline was 11.6 per cent, so that the chowing was relatively’ unfavorable, Railroad stocks were unaffected, moving with the rest of the list and generally steady. Moderate pressure continued to be directed against United States Steel preferred and to a lesser degree against the common. There is so large a short interest in the former that sudden re- versals of the trend are numerous, but the market is still dubious about the tution of American life, and, as a prime l next dividend meeting. Gains Predominate. In the rest of the list there were more gans than losses. Good demand Wwas seen for Continental Can, only 3 By the Associated Press, At no time during the world erisis of the last three years has the stability of any Canadian banking institution been called into question, nor has there with the single exception of Hunting- ton, W. Va. Furthermore, the fifth district topped the 11 others, the figures covering this statement being given out :y the Federal Reserve Board here to- ay. or 3 points below the best of the year, THOMPson DENIES International Busi | S i PLANS TO RESIGN &5, 2 o i st Washington on the beer bill. The olls gave a good account of themselves. 3% Blaw Knox s 4% Boan Alumn & Brass 20 Borden Co (2). 3% Borg Warner. 23 Briges Mfg C which figure was later revised to $5,-| 000,000 for crude. gas and fuel oil | alone. Hence, it is evident that when | the fiscal year 1933 shall have ended | the revenue from this tax will have| Nat Biscult (2.80). Nat Biscuit pf (7)... Nart Cash Reg (A)... % Nat Dairy Prod (2).., Nat Lead pf A (T)... NuARD i AHB R E e NP RO E PEFEE FEREEIEF Sales in 12 Reserve Districts. ‘The Reserve Board states that pre- Jiminary figures on the value of de- partment. store sales show a decline qrom October to November, contrary to the usual seasonal movement. The Federal Reserve Board’s index, which ‘makes allowance both for number of business days and for usual seasonal changes, was 64 in November on the basis of the 1923-1925 average as 100, compared with 71 in Octcber wnd 70 in_September. . In comparison with a year ago the “value of sales for November, according to the preliminery figures, was 20 per cent smaller; when allowance is made for the fact that there was one more business day in November this year than last, the decline is 23 per cent _The aggregate for the first 11 months of the year was 23 per cent smaller :t‘!gx;n for the corresponding period of 1. Percentage decreases from a year ago are as follows: Jan. 1 | 1o, Stores. Cities. Nov. 30.* 516 222 Cleveland Richmond . Atlanta Chicago St. Louls Minneapolis . Kansas City. TR 18 San Francisco 6 5 8 25 SNovember figures preliminary; in most dis- tricts the month had one more business day this year than last year. Problems Awaiting Solution. For the immediate future, says the Guaranty Trust Co.’s survey, interest centers on the possibility of a strength- ening of economic fundamentals through international action on arma- ments, war debts, trade barriers, mon- etary stabilization, and the other questions that have been created or sggravated by the world depression. The outlook regarding trade barriers and monetary stabilization is more ob- scure, although the subjects are sure to be brought up at the international economic conference tentatively sched- ‘uled for the early part of next year. If the Winter brings genuine progress toward the solution of these problems, together with a maintenance and con- solidation of the ground gained in the last few months, the business com- munity as a whole will be well satisfied; for the fulfillment of these conditions will indicate that the strongest possible foundation has been laid for a new economic structure to supersede the one that has crumbled so badly in the last few years. The Spring season may be regarded as a logical starting point for the sound recovery that should follow, the bank declares. Car Loadings In Sharp Rise. ‘The Railway Age publishes statistics in an editorial in its current issue showing that, as measured by freight | car loadings, the improvement in gen- | eral business continued to be marked | “throughout November as it was duflnBI September and October. Its statistics compare car loadings in July with loadings in the Fall months during the last eight years, and show that the trend of freight movement has been | more favorable in the latter part of 1932 than in any of the previous seven years. “In the five years ending with 1929 ‘weekly loadings in September averaged 10.8 per cent more than in July, while in September, 1932, they averaged 17.4 per cent more than in July,” says the Railway Age. “These figures show that a marked improvement in the trend of loadings began in Secptember, and, of course, indicate a corresponding im- provement in the trend of general busi- ness. In the five prosperous years load- ings in October averaged 137 per cent more than in July, while in October, 1932, they averaged 32.2 per cent more than in July. In the five prosperous years weekly loadings in November averaged 1.2 per cent less than in July, while in 1932 they averaged 14.8 per | cent more than in July. Comparisons of the figures for the Fall months of 1932 with those for the Fall months of 1930 and 1931 {llustrate With equal force the favorable trend of car loadings that has prevailed since August, 1932, Heard in Financial District. Great Atlantic & Pacific Tea Co. es- timates sales for four weeks ended No- vember 26, 1932, at $62,848,653, com- paring with $74,705,685 in like period of 1931, a decrease of $11,857,032, or 158 per cent. Tonnage sales for the four- week period are estimated at 395275 tons, against 418,777 tons in the 1931 period, a decrease of 23,502 tons, or 5.6 per cert. ‘The Graymur Corporation, which has a good many Washington shareholders, has declared the regular quarterly divi- dend of 25 cents, payable January 2 to stock of record December 16. Claude Neon Electrical Products Cor- has declared the regular quar- rly dividends of 25 cents on the com- mon and 35 cents on the preferred stocks, both payable January 1 to stock of record December 20. ‘The New York Stock Exchange has notice from Childs Co. of pro- { received reduction in capital ited fimm stock from $26.5¢ to $1 a 12 4574 19'% 18% 18% 57 59% 15% 2% 21'% A 10 81% 83 163 41 28Y% 308, 11% 5% 24% 114 Bkyn Manhat Tran.. 31% Bklyn Man Tr pf (6). 46 Bklyn Union Gas(5). 215 Bucyrus-Erie cv pf.. 15 Budd (E G) Mfg..... 8% Budd (EG) Mfgpf.. 10 s Budd Wheel........ 6% Burroughs AM(40¢). 15 Butte & Superior. 1% Butterick Co. 7__Bvers (A M) 1% Calumet & Hecla 6 Canada Dry (1.20) T4 Canaifan Pacific 214 Capital Admin (A) 16% Case (J 1) Co.. 1% Celanese Corp. o 7% Cent Aguirre (1%).. 8% Cerro de Pasco...... 9% Ches & Ohlo (2%)... 4% Chesapeake Corp (2) 14 Chi & Eastern 111 pf. 1% Chi Mil StP & Pac pf 2 Chi& Northwestern. 5 Chi& Northwest p 1 Chi Prneumatic Tool. 4% Chi Rock 1 & Pac.... 4% ChiR1& Pac 7% pf. 615 Chi Yellow Cab (1).. 5 Chrysler Corp (1)... 43% City Ice&Fuel pf 6% . 3% City Stores 10% Coigate-Palm-P (1). 9 Colonial Beacon Lil. 8 Colo & South 1st pf 214 Columbia Gas (b1) © [P S-TOIPOINS. - PO o - 1 it 011 1 BB g 08 O B8 N 208 199 208 2 3% Commercial Credit 315 Comcl Solv (60c) 1% Comwlth & Southn 27% Comwlth & Sou pf(6) x 614 Congol-Nairn (40 81% Consol Gas N Y (4).. 4% Consol Laund 50c. .. 4 Consol Oil Corp 79 Consol Ol pf (8). 24% Cont Baking pf (4) 17% Contl Can (2) 6% Contl Insur (1 % Cont Motors. 3% Contl Ofl (Del). . 24% Corn Products (3). 1% Coty, Inc......... 7% Crown Cork & Seal. . 17% Crown C&S pt (2.10). 15 Crucible Steel pf. % Cuhan-Am Sugar 7 Curtis Publishing. 47 Curtis Publish pf(7 % Curtiss-Wright 3% Cutler Hammer 813 Del Lack & Westn. 12 Diamond Match (1).. 11% Domin Stores (t132). 5 Doug Alrcraft (75¢). 23 Drug Corp (4). 22 _Dupont de Nem 1 Eastern Roll Mills. .. 35% Eastman Kodak (3). 3 Eaton Mfg Co... 815 Elec Auto-L (1.20) c Pwr& Lt. ... c Pwr & Lt (2). c Pwr&Lt pf 2.3 12% Elec Storage Bat (2). 16 Endicott-Johnson(3) 4 Engineers Pub Svc. Eng Pub Sve pf (6).. 2 ErleRR A : rbanks Morse pf. 4 Federal Screw Wks. Fed Water Service A Federal DeptS(60c). Fidelity-Phoen 1.20. . Filene's Sons pf 6% First Natl Stores 215 Fisk Rubber. Fsk Rubber 1st p Fisk Rub 1st pf ¢ Foster-Wheeler Fox Film (A) Freeport-Tex: ien Am Tank Car(1) 4 Gen Baking (2)..... Gen Bronze. . Gen Electric (40¢). .. Gen Elec spec (60c).. Gen Foods (2)....... Gen Gas & Elec (A).. Gen Mills (3).. . Gen Motors (1) <412 Gen Motors pf (5). Gen Outdoor Adv (A) Gen Public Service. . 1 Gen Realty & Utll. .. 10% Gillette Saf Raz (1), 2 314 Glidden Co T 35 Glidden Co pr pf (7). 130s 2% Gobel (Adolf). SR 8% Goid Dust (1.60). 10 7 Goodrich (BF) pf. 5% Goodyear Tire&Rub. 11 19% Goodyear 1st pt ( Graham-Paige. 3% Grand Union. 22 Grand Union pf (3 14 Grant (WT) (1). 513 Great Northern pf. 5 Great Northern Ore. . 15 Grigshy Grunow. 213 Gulf States Steel 1, Hartman Corp (B).. 1: Hawalian Pineapple. 50 Ilelme (GW) (17). 435 Hershey Choc (6)... 110 Homestake Min(110) 1 Houdallie-Hersh (B) 8% Houston Oil. . e 8 Hudson & Man (234). 27 Hudson Motor Car. 1% Hupp Motors 4% Illinols Centra . 7% Industrial Rayon (2) 14% Ingersoll-Rand (2).. % Inspiration Copper. . 2% Interboro Rap Trans. 1% Interlake Iron 5214 Int Bus Mach 1% Int Carriers Ltd 20c. 8% Int Cement......e00 1 HO B R M N T O a0 2% + 1 104 13% + 14 7+ 43% - 3% B — 154 — 6% — 25% + 15% - In — 3 + %+ 15% 3% 31% 15% 21% 5% 434 20% 11 10% 2214 91, 20% 425 37 14 36% 15% 94 19% 48 31 10% 23% 1% 69% 34% 80 % 6 8% 42 Nevada Con Copper. . 4 N Y Investors. .. 5% b 2% 9 1% 3w 12 167 3u 1% 1% 2 % 34 16 13 % 614 3% Nat Lead pf B (6)... Nat Pwr & Lt (1). Nat Steel (50c) Nat Surety. . N Y Air Brake. N Y Central. NYChi&StLpf.... - N Y N H & Hartford. N Y Ont & Western. . Noranda Min (a1.10). North Am Aviation. . Nor Amer(b10%stk) Northern Pacific Ohio O11 (a50c) Oliver F Eq prpf A.. Otis Elevator (1).... Otis Steel. ... Otis Steel pr pf. Owens 111 Gla Pacine Gas & El (2). Pacific Mills. .. Packard Motor Car - amne OmwEmae~ S ae Park & Tilford. Pathe Exchange. Patino Mines. . g Penick & Ford (12).. Penney (J C) (1.80). Peun Dixle Cement Penna Railroad. Phelps Dodge. . Phila& Read C&I... Phillips Petroleum. . Pierce Petroleum Pilisbury Flour (6 Plymouth Ofl (1).... Proctor & Gamble(2) Public Sve N J(3.20). Punlic Sve NJ pt (5). 4 Pullman Corp (8).... 3% 1% 9% 2 1% 1% 10 % Socony Vacuum 40c. 7 Stand OIIN J (12)... 4 Tex Pacific Coal&Oil. 2% 14 19% % 15% 8 27% Pure Oil radio Corp. Radio Corp p! Radic-Kelth-Orph Reading Rwy (1) Remington-Rand Reo Motor Car. Republic Steel. Revere Cop & Br pf. ynolds Tob B ( tores (3).. Safeway Strs pt (1) St Joseph Lead. . St L-San Francisco St L-San Franpf.. .. Schulte Ret Stor pf. . Seaboard Ofl Del 40 ars Roebuck Second Nat Inv. Seneca Copper. Servel InC.........s Shattuck(FG) (50c). Shell Union Oil. . Shell Union Ofl pf. Simmons Co. . : Sloss Sheffield Steel. Snider Packing. . . » 0 Port Ric Sug 1.60. Southern Cal EA(2) Southern Pacific. Southern Railway... Southern Railway pf Standard Brands (1). Stand Gas & Elec (2) Stand Gas&ELpf (4). Stand Gas&El pf (6). Stand Invest Corp. .. Stand Oil Calif (2).. Stand Oil Exp pf (5). e wa S = e e vy o Sterling Secur (A).. Stewart Warner..... Stone & Webster. Studebaker Corp. Sun 0il (k1) Tennessee Corp. Texas Corp (1).... Tex Gulf Sulph (2).. o I bt B0 e O R G0 S5 O D RS i g e Tex Pacific Land Tr. Thatcher Mfg Co. Thermoid Co Third Avenu Third Nat Inv (90¢). Tide Water As pf (6) Tide Wat Oil pf (5).. Timken Roller Bg(1) Transamerica Corp. . Tri-Contl Corp Trico Products(2%). Truax Traer Coal. Un Carblde & C(1.20) Un Oil of Calif (1) Union Pacific (6). Un Tank Car (1.40). . Unit Aircraft, Unit Carbon. . Unit Cigar Stores. Unit Corp (40c). . Unit Corp pf (3) Unit Fruit (2) Unit Gas&Im (1. Un't Piece Dye Wks. S & Forn Secur. ... U S Gypsum (160).. % U S Indus Alcohol. .. U S Leather (A) U S Realty & Imp. Rubber 1st pf. .. U S Smtg & Ref (1). % U S Steel 1% 5% 3w 20 % 62 £ 1 1% U S Steel pt (7). United Stores (A Unit Stores pf (3%). Univ Leaf Tob (2)... Util Pwr & Lt (A) Vanadium Corp Va-Car Chem 6 Va-Car Chem 7% pf. Vulcan Detinning. .. Vulcan Detin pf (7). Wabash R R. 100s Warren Bros. .. 1752 Warren Bros cv pf 20 8% Wesson Oil & Sn (1) I+ Tl ++++ X133 +|H;ll&*l' &R SEE 2y * EFE FESEF 28 | sreatly eded the final been a failure in the Dominion in al- | e Treasury l%ep‘fi.l;tme:t most & decade. Tests not only on their individual size (the amounts estimate bY | president On the other hand, the great majority Reports to the Federal Reserve Board | Of special taxes enacted by the revenue | declare the strength of Canadian banks | &t have produced small percentages of expected. The petroleum | and widespread organization, but still | Industry credits this tax with being| of Restaurant Chain Avers Report Entirely False De- spite Change in Control. more on the soundn .| a8 major factor in its present upward ples on whmfi" ,h,y”,‘,.% !:;npncr“f,}_itrend by increasing the income of the | BY the Associated Press. domestic oil $500,000 a day. ducted. The situation has, however, called for constgnt wltclhlulnm particularly as A e regards commitments outside of Can- ada. the information saia. and muen MORE POTATOES USED discretion has been needed in the mat- ter of accommodation granted. _ Furthermore, it was sald, the very liquid position which had previously been maintained has not necessitated the drastic curtailment of credit which has been common in other countries. And the existence of large inner re- serves was an important factor in enabling the ba: to deal with special contingencies, suth as depreciation of investments, without drawing on their published reserves. U. S. TREASURY BALANCE. ‘Treasury receipts for December 8 were $7.724,671.08; expenditures, $20,- 089,573.58; balance, $536,616,495.62. Cu toms duties for eight days of December | were $6,183,323.23, By the Associated Press. now on hand. year: agc. German motorists. NEW YORK BANK STOCKS NEW YORK, December 10 (#).— Over-the-counter market: (Quotations as of 11 o'clock.) BANKS. 6 to 10 per cent. INVESTMENT TRUSTS the-counter market (Quotations as of 11 o'clock.) Asked. Bank e of Manhattan Chase (2).. R Commercial s Koot National, (100 ationa @), Public " (2).. ¢ Bid. )., s ive » | Corporate Trust Pl 443, | Garporate Trust & A 3014 | Gorporare Trust Accam Ser TRUST COMPANIES, O A 3 Shrs B orn Exchange Empire (2)... . .. Guaranty (50} Irving (1.60) Menufacturers New York Trust (51,0 " itle Guar. & T 5 “Includes extra. (380 h Nor Am Tr Sh_195 Super of Am Ti Super of Am Super of Am ’ Super of Am per of 2 Super of A Trusteed Am Trade Reports at a Glance. By the Associated Press. NEW YORK, December 10.—Tabloid review of wholesale and retail business conditions, as reported to Bradstreet's this week from the follow- ing centers, on the basis cf compariscns with conditions in the same areas in the corresponding week last year: esale trade, Quiet Fair Quiet Quiet Quiet Quiet Quiet Quiet Quiet Quiet Quiet Quiet Quiet Quiet Fair Retail - trade. Quiet Fair Quiet Quiet Quiet Quiet Quiet Quiet Quiet Quiet Quiet Quiet Fair Fair Fair Comment. Pittsburgh—Steam coal less active, slack firmer, domestic cgg and m; p;fielsedmovtx‘;;ghvi-eu, L‘;kemuutp\lt increases; department store irade with holida; 5 Jewelry an ver emand 25 per e ydiad i) y buying; jewelry and silverware demand 25 pe Chicago—Wholesale and retail distribution com| ares favorably with other years; automotive orders constitute main .sflmurus to steel industry; Winter wheat acreage reduced. ’ Cleveland—Consolidation of motor truck industry results in additional orders; American Stecl & Wire Co. announced plans to move to Lorain in May, 1933; this will seriously affect employment. Detroit—Retail trade seasonably enhanced: automobile manufacturers increasing production of 1933 models, with resultant improvement in pay rolls; gains in auto employment offset by dullness in other industries; relief agencies heavily taxed. Indianapolis—Merchants concentrated on promoting hoMday buying: release of Christmas funds to stimulate general trade; State's coal pr duction equals 339,000 tons, an increase of 110,000 tons over previous week. Louisville—Cigarette factories working overtime; printing trade depressed; wholesale and retail volume recedes somewhat in past 19 day: employment gains 13 per cent, compared to a 1.6 per cent-decline in 1931. Miiwaukee—Milwaukee day opens holiday shopping season with sales volume reaching $2,000,000; food products in demand—prices fxztoroemely low; extensive municipal construction affords employment to ,200 men, Des Moines—Unseasonable weather retards retail sales; industry at low ebb; unemployment situation serious; farm commodity prices disap- pointing; relief agencies heavily taxed; collections backward Duluth—Retail trade seasonally enhanced, with lower-priced mer- chandise generally favored; wholesale movement below 1931; industry continues on curtailed basls. Kansas City—Holiday demand chiefly for moderate-priced neces- sities; manufacturing continues on restricted schedules; flour mill opera- tions at 60 per cent of capacity—sales at about 40 per cent; Western Kansas wheat in bad condition due to lack of rain Minneapolis—Retail volume below 1931—holiday movement light; wholesale dry goods, notions and foot wear active; drugs and groceries steady; industrial activity at low ebb. Omaha—Retailers advertising extensively with favorable response; work clothes manufacturers more active; live stock receipts and prices steady; Community Chest quota nearly reached. St uls—Retall movement on uptrend, with holiday buying ahead of 1931; wholesale dry goods, shoes and clothing equal last year in sales; dr:psst nd chemicals steady; lead belt reports firm prices but curtailed output. St. Paul—Wholesale volume in furs, millinery, footwear and work- men’s clothing fully up to 1931; apparel, auto accessories, oil burners, refrigerators and saddlery show decreases; holiday trade somewhat backward. mm‘—mw‘ trade more in evidence ‘but volume thus far moderate; lower-] “niennnuy favored; iron and steel require- mmm eu?m; ices off; deposits increase but financial credit Manufacturing and industry. Quiet Quiet Quiet Quiet Quiet Quiet Quiet Quiet Quiet Quiet Quiet Quict Quiet Quiet Quiet Collec- tions. Slow Slow Slow Slow Slow Slow Slow Slow Slow Slow Slow Slow Slow Slow Slew Pittsburgh Chicago .. Cleveland ndianapolis Louisville Milwaukee Des Moines Duluth Kansas Ci Minneapolis Omaha . St. Louls St. Paul Baltimore . industry at the rate of FOR REICH GASOLINE| Germany’s potato farmers have been aided by that government's policy of | P9t expect Thompson to resign. mixing potato alcohol with gasoline, if one is to judge by the stocks cf alcohol A Teport to the Commerce Depart- ment said the present alcohol inventory | Uam Wrigley. ir.. two vears ago. M. in Germany was about 42,000,000 gallons v as compared with 53,000,000 galions a | dle West Utilities. A minarity of the Alcohiol made from potatoes and other | B products is used by the Reich govern- ment o mix o the goime, rttled o) SELLING OF U, S. STEEL the percentages of the ratic of alcohol | to gasoiine has been rzised four times, | the last time increasing the ratio from | NEW YORK, December 10 (#).—Over- | Thompsen, jr., last night denied reports that he intends to tender his resigna- tion as president of the John R. Thomp- son Co. at a board of directors’ meet- | ing_today. “I do no’intend to resign,” he said, William N. Collins, recently elected restaurant chain, passed into control of a group consisting of Charles A. McCul- loch, John D. Hertz and the late Wil- Culloch is now co-receiver of the Mid- company’s stock is still held by the John . Thompson estate, PREFERRED IS WATCHED | . NEW YORK, December 10 (#)—| | Though steel preferred continues to rule | 2t a premium in the loan crowd, selling | in the stock is reputed to include sizeable liquidation of very good char- | acter. Presence of a formidable short interest naturally is suggested by the ! ilndlclted borrowing demand for the | stock. There is, of course, a widespread W0 | Cisposition to attribute pressure on the 0 2 833 4% | stock to the uncertainty which prevails with regard to the payment of another dividend when directors meet late in ldan ary. But there are circumstances | which make some people believe that the payment will be entirely omitted only under great stress due to the large institusional holdings of the issue. Some of the selling here, it is believed, might have its origin in selling in connection with estate taxes. RESERVE RATIO RISES SLIGHTLY BURING WEEK | By the Associated Press. | The ratio of total reserves of the 12 central banks to deposit and Federal Reserve note liabilities combined showed | a slight rise during the week ended De- cember 7. In the table that follows the | ratio is given for comparable periods, as| announced by the Federal Reserve| Board: Week ended December 7. 629 Previous week. . Lo 62.6 per cent 66.1_per cent B : INVEST YOUR XMAS ) MONEY IN SAFE | FIRST MORTGAGES We offer a list of well chosen, income- £ properties in_the Nation's Capital dis ) Mortgage and 1610 K strect " TA EIRSE CHICAGO, December 10.—John R.! ‘and the source of the reports concern- | tons as ing my resignation are unknown to me.” ' o Qctober 31, chairman of the company, said he did | Utilities were more is o rregular but not Commodities were slow to respond to the better feeling with regard topmltoeh, Cotton advanced 50 cents a bale or so and wheat was up fractionally, but copper abroad declined again to a rec- ord low. A little selling toward the close car- | Tied prices off slightly from their best. | It affected American Telephone, Union Pacific and other leaders, but it was " Theeniied e unfilled tonnage statement of | United States Steel came out after the oe. It showed a decrease of 28,739 of November 30, from the total + (Copyright, 1932.) s Thompen o <o FRANCE’S INVESTMENTS IN OIL REFINING RIS| BY the Associated Press. France’s investment in oil refin; Ib%l’:d”l.;gfl,fllo i e patches frem Parls that the above figure, based on a re'ée.:t' annm;\;ce'men: fiovarlnx all of the most important petreleum companies of -t ing in France. " o It was also shown that there is an investment of about $10,240,000 ih pe- troleum warehousing and $6,445,000 in groups occupied with building of tank- ers for transportation of petroleum and its products. There are also numerous small dis- tributing companies throughout France which are not included in the above figures, it was stated. LIFE INSURANCE SALESMEN Are Not Born :2.!‘! are trained and ma by us without Address Box 312-E, Star Office. First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. The (lwommercial National Bank 14th'and G Streets Complete Banking Service Money on Hand to Loan on First Deed of Trust 5 6% Interest Reasonable Commission and Prompt Replies to Applications JAMES F. SHEA 643 Indiana Ave. N.W. MORTGAGES PUT IDLE DOLLARS AT WORK IMMEDIATELY That is present ' conditions. the best solution of the Idle money, hidden away out of channels where it will earn , is an economic mistake. Investment in our Ower a Third of a Century Without a Loss ence of suc May be to an Investor. National 2100 6% FIRST MORTGAGES will start your idle funds into profit- able activity and you little realize how far-reaching will be the influ- h an investment. purchased in amounts from $250 up. B. F. SAUL CO. 925 15th St. N.W.