Evening Star Newspaper, December 15, 1932, Page 14

! " A—14 exx i ‘Weei: ended Dec. 10. COST ACCOUNTANTS ORGANIZE CHAPTER Officers of New Unit Will Be Elected at January Meeting. BY EDWAKD C. STONE. Washington Chapter, National Asso- ciation of Cost Accountants, started functioning today, following organiza- tion last night of a local unit of con- trollers, auditors, business executives and economists interested in the study and interpretation of business data. The new chapter is No. 45. Officers will be elocted at the next meeting in January. The cherter members of the new or include Wrce F. Aiderson, Bu- of Foreign and Domestic Com- m James E. Anderson, assistant treasurer, Sanitary Grocery Co.; How- ard C. Beck, C. P. A.; Oscar J. Bern- stein, District Institute; John R. Bromell, Bureau of Foreign and Do- mestic Commerce, Department of Com- merce; E. J. Brosnan, Associated Gen- eral Contractors of America; Harold E. Burton, controller, Southern Dairies; Louis C. Carl, secretary, Call Carl, Inc.; ‘William H. Churchill, Peoples Drug Stores, Inc. 3 C. Milton Clark, treasurer's office, Federal Farm Board; Oscar D. Crockett, & Detweiler, Inc.; George E. Fruit Growers' EXpress uniani. United Ty A. B. Gunnarscn, Chamb: United State: Hup lin University William_ L. Jones, assistant to con- troller, Potomac Electric Power Co.; S. 1. Kedzierski, Bureau of Foreign and Domestic Commerce; George D. Lane, Felt & Tarrant Manufacturing Co.; J. Manning McLeod, Standard Engineer- ing Co.; Christopher Magee, People’s Drug Stores, Inc.; John Moran, Na- tional Fertilizer Association. Elizabeth A. Morris, Reconstruction Finance Corporation: Harry S. Moyer, Ludington Lines; Richard M. Nash, National Publishing Co.: Charles R. Ogsbury, International Business Ma- chines Corporation; Gerard V. Patrick, Addressograph Co.: Walter F. 2aymond, auditer, Griffith Consumers’ Co.; Carrel J. Riggall, People’s Drug Stores, Inc.; W. D. Rogers, Remington Rand, Inc.: Edward C. Schroedel, International iness Machines Corporation, and V. Williams, Western Electric Co. National Officer Present. Steuart C. McLeod, national secre- tary. explained how the association, through its _chapters, > library and research work, has antici- pated the needs of accountants in busi- | ness, industry and government and acts as a clearing house for the latest accounting ideas and methods. | Eric A. Camman of Peat, Marwick, | & Co., pictured the evolution | ©of financial statements from the simple | form of pusiness report used by banks in granting credit through the maze of detail and complicated records to the statement used for Federal income tax- ation, the credit extension report and the uniform financial statement used | by industries or required as a pre-| Yesquite for listing on a Stock EX-| change. Charles Reitell of the Greater Penn- sylvania Council, Harrisburg,” who is now engaged in the simplification of governmental accounting and budgetery control spoke authoritatively on one of the newer and present-day uses of modern accounting, the design of rec- ords that will control the expenditures of moneys, the uses of business facilities and show accountability through re- | sibility. | The organization meeting was most | enthusiastic. The Nominating Com- | mittee, to report in January, consists of G. D. Lane, J. M. McLecd, G. V.! Patrick and C. J. Riggall. Ample Credit for Expansion. Clark, Childs & Keech see ample | funds for o tremendous cxpansion :n credit, sufficient to meet any demands that might arise. In the past few months, the broxerage firm asserts, we have seen an excess recarve account of $500.000,000 buile up and an increase of $820,000,000 of demand deposits take place - The factors which have been respon- sible these increases are: 1. Purchases of Government securi- tics by the reserve banks. 2. Increased Treasury financing. 3. A gain in Government security investments by banks 4. An inflow of gold. 5. A return of currency. These have resulted in: (a) A check to liquidation and contraction of loans and investments. (b) A potential credit supply of five billions of credit from the excess ¥e- serve account. Capital Traction Stock Gains. In today's trading on the Washingy ton Stock Exchange 40 shares of Capi- tal Traction stock changed hands. The first 20 sold at 4 and the other 20 ad- vanced to 4. The stock closed with 4 bid and 5 asked. g The only other stock appearing on the board was Potomac Electric Power | 51. per cent preferred, a tiny sale tak- ing place at 1063;. The first bond sale of the day was in Potomac Electric Power 6s, $100 selling at 107! and $200 | at 10714, i After $500 Washington Gas 6s, series | B, had moved at 1031, $2,000 Potomac Electric Consolidated sold at 10314 Two $1000 sales in Washington Gas 5s came out at 1013 and the market closed with $500 Washington Gas 6s, series A, selling at par. Heard in Financial District. George Cole Scott, resident partner of G. M. P. Murphy & Co., a recent Re- publican candidate for Congress and for many years identified with Virginia | banking and indusirial interests, died | suddenly at h e in Richmond. He had been a director of several large coal companies, a textile mill director and on the boards of South Carolina Fertilizer Co. and Chesapeake & Ohio | Railway. He was 57. Local bankers were greatly impressed today by a dispatch from San Francisco, which stated that the San Francisco Bank has declared an initial special Christmas dividend of $50, the usual extra dividend of $75 and the regular quarterly dividend of $60, all payable December 31.. George Tourny, the pres- ident, states that the bank is closing the best year in its history. The dividend action would seem to back up that statement, | November new-life insurance produc- | ticn was 20.7 per cent less than the like h last year, according to the Asso-| ciation of Life Insurance Presidents. The volume of new business, for the 11 menths was 16.1 per cent below the 1931 period. | Fifth Avenue Bank, New York, has declared the regular quarterly dividend of $6, payable January 2 to stock of record December 31. S COMMODITY PRICES HIT NEW LOW ON DECLINE By the Associated Press. ‘Wholesale commodity prices receded | to a new low during the week ended | Deecmber 10 as the charge was calcu- | lated from a list selected by the Com- | mecree Department. In the table that | fcllows the index of ail sclling prices is | given for comparable periods, based on | Tepresenting 1926 prices at 100. In addi- | tion, the seiling price of a ton of com- posite iron and steel products is given for like periods: All Comrsnaodltlu. Steel. publications, |- NOTE—Toda: a1 100 3 134 21% 6 85 24 19 FINANCIAL, .. .. THE EVENING STAR, WASHINGTON, D. C, THUR SDAY, DECEMBER 15, 1932. FINANCIAL, TRANSACTIONS ON 'THE NEW YORK STOCK EXCHANGE divid 'Inl lusl Stock and Dividend Rate, 1% Adams Express. ... ocl 4 307 7% Alaska Juneau (50¢). % Alleghany Corp..... % Alleg Cp pf $40 ww et i 42% Alifed Chem & D (6).23610s 83 118 96% Allied Chem pf (7).., 4 Allis-Chalmers Mfg.. 12 Amerada Corp (2)... 5 Am Bank Note. . 6% Am Brake Sh&F(60¢} 29% AmCan (4)ceeeeioen 3% Am Car & Foundry.. Am Car&Foundry pf. Am Chicle (13). . Am Comc’l Alcohol Am Encaustic Tiling. Am & Foreign Pwr. . % Am&Forgn Pw pf(6) Am & For Pwr pf(7). 4 Am & For Pwr 2d pf.. Am Hide & Leath pf ‘Am Home Prod 4. Am Ice (1). Am La France&Fom. % Am Locomotive, ‘Am Locomotive pt Am Mach&Fdy (80c). Am Metal Co. Am News (1%) ‘Am Power & Light. .. AmP&LtpLA (2%). Am Pwr & Lt pf (3).. 4 Am Radlator. . Am Rolling Mills. ... Am Safety Razor (3). Am Smelt & Ref..... Am Smeit & Ref pf. ‘Am Smelt&Ref 2d pf. Am Snuff (134%). Am Steel Foundrs Am Steel Fdry pf(7). x10 Am Stores (1235). Am Sygar (2)....... Am Sugar nf (7). Am Tel & Tel (9) Am Tobacco (16).... Am Tobacco B (16... Am Tobacco pf (6) 4 Am Type Founders. 13 Am Type Fdrs pf. Am Water Works(1). Am Wat Wks ctfs(1) Am Wat W 1st p£(6). Am Woolen Am Woolen . Anaconda Copper. Anchor Cap (60c).... Archer-Daniels (1).. Armour of Del pf(7). % Armour of I11 (A). Armour of Il (B). Armour of I11 pf. Arnold Constable 3 Artloom Corp Assc Dry Goo Asso Dry G 1st pf. Asso Dry G 2d pt Atchison. Atchison pf (5) 9% Atlantic Coast Line., 83 Atlantic Refining(1). 715 Atias Powder. . 28% Auburn Motor ( % Austin Nichols Avation Corp (Del Baldwin Locomo 8 Baldwin Locomot pf. 3% Baltimore & Ohlo. 6 Baltimore & Ohlo 15 Barker Bros. 3% Barnsdall Corp. 10'; Beatrice Creamery 63 Beatrice Crm pf (7)., 57% Belg N Ry pt pf 4.09.. 4% Bendix Aviation..... 5% Best & Co. 7% Bethlehem Steel. 16'% Bethlehem Steel pf.. 815 Bigelow-Sanford. ... 47 Bonn Alumn & Brass 20 Borden Co (2). 3, Botany Con M 214 Briges Mfs Co 1114 Bkyn Manhat Tran. . 311 Bklyn Man Tr pf (6). 46 Bklyn Union Gas(5). 1% Brunswick-Balke. 2! Bucvrus-Eriecv pf.. '; Budd (E G) MI. 64 Burroughs AM(40¢). 31, Bush Terminat. ..... 71i Bush Term’l deb stk. 121, Bush Terminal pf(7) 1% Butterick Cp. e BrersiCRDE 414 California Packing. 113 Calumet & Hecla. 6 Canada Dry (1.20) T14 Canadian Pacific 16% Case (J 1) Co.. 30 Case (J ) Copf (7). 4% Caterpillar Trac 50c. 1% Celaneso Corp. 114 Celotex pf. 7% Cent Aguirre 315 Cerro de Pasco 1 Certain-teed Prod. 161; Checker Cab Mf. ... 9% Ches & Ohlo (234)... 474 Chesapeake Corp (2) 1% ChiGreat Western. . 213 C 1% Chi Mil StP & Pac pt. 2 Chi & Northwestern. 5 Chi& Nogthwest pf.. 4% ChiRI & Pac 7% pf, 6% Chi Yellow Cab (1).. 113 Chitds Company..... 5 Chrysler Corp (1)... 11 City Ice & Fuel (2).. 433 City Tce&Fuel pf 6%. % City Stores 3 10 Cluett-Peabody (1).. 70 Coca-Cola Co (7) 41% Coca Cola (A) (3). 10% Colgate-Palm-P (1 65 Colg-Palm-P pf (6).. 2% Collins & Atkman. 2% Colo Fuel & Iron 8 Colo & South 1st pf.. 21 Columbia Gas (b1).. 40 Columb Gas pt A (6). 1314 Columb Carbon (2).. Commercial Credit. 315 Comcl Solv (60c).... Comwlth & Southn. . 8 Comwlth & Sou pf(6) Congol-Nairn (§0e). Congress Cigar (1).. Con Cgr pr pf xw61%. Consol Cigars p£(7). 1 Consol Film. 2% Consol Film pf..:... 3115 Consol Gas N Y (4).. 7214 Consol Gas NY pf(5) sales are mot siven in this edition are from yesterday's Paper. Bales— Add 00 Hish. 17 % 5 1 25 15 16 3 10 1 6 1 4 4 6 s 23 5 27 1 808 108 6 21 g 1 4 42 238 10s 37 2 6 172 91 2 1 217 1 108 4 39 1 0758 2 5 30s 00s 1 1 89 3 415 Consol Laund 50c. .. x2508 60 4 Consol Oil Corp. . 2145 Cons RR of Cuba pf., 1, Consol Textile . 27 Cont] Baking (A). 13 Contl Baking (B).... 24% Contl Baking pf (4). 17% Contl Can (2). 6% Contl Insur (1.20)..q 5 Cont Motors. 3% Contl Ofl (Del 24% Corn Products 1% Coty., Inc. 1315 Cream of % Cuhan-Am Sugar.... 6 Crucible Steel. . 15 Crucible Steel pf. ... 1 45 Curtis Publish pf(7). 74 Curtiss-Wright. 3% Cutler Hamme 1 Davison Chemical... 2 24 3 3 23 5 : 2 3 9 4 3 4 3 5 208 3 4 .. 18628 3 1 .Debenhams Security. 100s 6% Deere & Co pf (30c). 32 Del & Hudson (6) 815 Del Lack & West: 54 Detroit Edison ¢6) 12 Diamond Match (1). 5 Doug Afrcraft (75¢).. 23 Drug Corp (4). 22 Dupont de Nem (2). 80% Dupont deN db pf(6) 87 Duques Lt 1st pf (5). 35% Eastman Kodak (3). 3 Eaton Mfg Co. . 813 Elec Auto-L (1.20).. % Electric Boat. - 4 Elec & Musical Instr. 2% Elec Pwr& Lt...... 10% Blec Pwr&Lt pf 2.33. 123 Elec Storage Bat (2) 16 Endicott-Johnson(3) 4 Engineers PubSve. 16 Eng Pub Sve pf (5).. 11'; Equi Office Bldg 3% . x 2% Fairbanks-Morse. 9 Fed Lt&Trac (31) 3 508 kid 5 15 snny mnuramnaSaa —Prev. 1932~ Low. Close. Chze. | High. 5! [ 10% 9% 58% s paslFeiesss ++1+00011+0 1+ - * 163 4% 16% 5% 33% 84 9% 4% 2% 2% 4% 10% 19 187 + 36% 18% 24 23% 38% IR R 15% 21 S I+++1l. 21 + EFREFES FEF +H1 26 30% 16% * 29% 6% 13% 9% EFE FEIF 30% 5% 6 4674 18% 31% +1ll+ + +14 - & L Ik ++1 FEEEEE 26% 33 9% EUERFESS S 47% 104% 5% 91 32% ' 341 2% ||I:+:|+++l Fa FaR 24 TH 41 % 13 8% © ® 1% 23 23 40 LN B i Rt ) Low. Dividend Rate. 6 Fidelity-Phoen 1.20 10% FirestoneT&R (1) 45 Firestone T&R pf(6) 35 First Natl Stores 2 Fox Film (A). .- 10 Freeport-Texas (2) 2% Fuller Co pr pf. 3 Fuller Co 24 p! 10% Gen Baking (2). % Gen Bronze. 75 Gen Cigar pf (7). 815 Gen Electric (40c). 10% Gen Elec spec (60c) 19% Gen Foods (2) 28 Gen Mills (3). 7% Gen Motors (1). 56% Gen Motors pf ( 1 Gen Public Service.. 309s 6% Gen Rwy Signal (1).. % Gen Realty & UHI.. .. 5 Gen Realty & Util pt. 2 5 1 8 Gen Steel Casaing pt. 100s 10% Cillette Saf Ras (1).. 45 Glllette Saf R pf (5). % Gimbel Bros 7, Gimbel Bros pf. 3% Glidden Co 35 Glidden Co 8% Gold Dust (1.60) 2% Goodrich (BF). 5% Goodyear Tire& T4 Gotham Silk Hosiery. 1 Graham-Paige, . 31 Grand Unlon..... 22 Grand Union pf (3) 141 Grant (W T) (1). 514 Great Northern pf. 5 Great Northern Ore 34 Great West Sug rigshy Grunow ates Steel ates Stl 1s % Hahn Dept Stores 83 Hannapf (7). 7 Harbison & Walker. 1 HatCorp (A)...... 4315 Hershey Choe (6)...: 110 Homestake Min(110) Houdaille-Hersh (B) 5 Howe Sound (40c). 135 Hupp Motors. 4% Illinois Central. 1 Indian Refining.. 71 Industrial Rayon (2 Ingersoll-Rand (2) Inland Steel........ Insuranshares (Del). Insuranshares (Md). Interboro Rap Tran Intercontl Rubber. 13 Int Bus Mach (§) Int Carriers Ltd 2 Int Cement. Int Combustion Int Combustion pf. Int Harvester (1.20). Int Hydro-Elec (A) Int Merchant Marine Int Nickel of Can. Int Paper & Pwr (A). Int Paper & Pwr (B). Int Paper & Pwr (C). Int Paper & Pwr pf. Int-Printing Ink Int 2 204 I 2% Int Tele & Teleg. 11; Interstate Dept St. 15% Jewel Tea (144). 10 Johns-Manville. 30 Jones & Laugh pf(3). 3 Kaufmann Dept St. 43 Kayser (J) & Co. .. 13 Kelly Spring Tire 14 Kelly-Spring ctfs. ... 1, Kelsey-Hayes Wheel 2% Kelvinator Corp. 4% Kennecott Copper. 6% Kresge (SS) Co (1 10 Krozer Grocery (1).. Tambert Co (15). ... 42% Leh Port Cmt pf 3%.. 1 Lehigh Valley Coal 5 Lehigh Valley RR. 301 Lehman Corp (2.40).. 6 Lehn& Fink (2)..... 3% Libbey Owens Glass. 344 Ligg & Myers B (15). 81 Lima Locomotive. .. 612 Link Belt (80)...... 9 Liquid Carbanic..... 13% Loew's, Inc (3) . 39 Loew's Incpf (6%). 1% Loft Inc. . 2 1; Long Bell Lumb(A). 16 Loose-Wiles Bis (2). 9 Lorillard (P) (1.20). 15 Louisiana Oil . 815 Lou Gas&EI A (1%). Tt Louisville & Nash. s O 915 McAndrew Forbs(1). 10 McCall Corpn (2) - 13 MelIntyr Por M(11%) 28 McKeesport T P (4). 314 McKesson & Robs pf. 10 Mack Trucks (1). 17 Mzey (RH) & Co'(2) 2'% Madison Sq Garden. . 4% Magma Copper (50c) % Manati Sugar pf..... 4 Manhat Elev mod gtd 6% Marine Midld (80c).. 1, Marmon Motor Car 3 Marshall Field & C 9 Mathieson Alk (1% 915 May Dept Stores (1 3 Mayta: pf ww. 8 Melvil.e Shoe (1. 33 Mid Centinent Petm., 26 Midland Stl 1st pf(8) % Minn Moline Pow... 5 Minn Moline P pf. ... 6% MStP &S S Mlsd(4) 1% Mo Kan & Texas..... 31 Mo Kan & Texas pf.. 11; Missouri Pacific..... 2'; Missouri Pacific pf. 13% Monsanto Chem 1% .. 315 Montgomery Ward 1, Mothe¢ Lode. 7% Motor Products (2).. 2 Motor Wheel 2 Mullins Mfg 2% Murray Cor| T9% 8 Nash Motors (1)..... 7% Nash Chat & St L. 1% Nat Acme Co. 14 Nai Bella Hess pf. 20% Nat Biscuit (2.80). 64 Nat Cash Reg (A). 14% Nat Dairy Prod (2) 2% Nevada Con Copper. 4% N Y Air Brake. 20 NY Shipbldg pf (7). lm Noranda Min (a1.10). 57“ . 1% North Am Aviation 13% Nor Amer(b10%stk 49 North Am Ed pf-(6). 2% North German Lloyd 5% Northern Pacific. 15 Northwest Tele (3) 1% Otis Steel. 42% 12 Owens Il Glass (2) ——— e 37 16% Pacific Gas& El (2).. zgfl Pacific Lighting (3).: 5! 1% Packard Motor Car 13% Paramount Publix. 3'4 Patino Mines. . 16 Penick & Ford (13) 18 Penney (J C) (1.80). 1% Penn Dixie Cement. 612 Penna Rallroad Peoples Gas Chi 1% Pere Manquette 21 Pere Marquette pf. 3 Petrol Corp of Am. 3% Phelps Dodzge. 18 Phila Co 6% (3) 2 Phila&ReadC&l... % Phillp Morris&Co(1) 2 -Phillips Petroleum. 1, Pierce Petroleum 18 "~ Pitts Coal pf. 2 PittsScrew & Pacific Tel&Teleg(7) 2201 4“ 3 12 5 508 3 3 27 3508 3 2808 ¥ x 23 19 1 53 9 . 19 1 . i) ' sales are net siven Moflll-. R s PTG g s sl A i’ il v, 1032~ Stock a; 1% 1% + % 13% — % 62% 53 +i+11++1 4+ - +1% - % 14+ + +H+ L+ + - % =27 W] 114 %| 28 % % EEOERE FEFE FFEOES 42% 19% Proctor & Gamble(2) 1% % Producers & Refin. 60 28 Public Sve N J(3.20). 90% 62 Public Sve NJ pt (5). 102% 71% Public Sve NJT pt (6). 92% Public Sve NJ pt (1), 10% Pullman Corp (3) 614 2% Pure Oll 15% 4% Purity Baker! —_— . 13% 2% Radio Corp. 23% 3% Radlo Corp pf B. 7% 1% Radlo-Kel:n-Orph. 12% 4% Raybestos-Man (60« 915 Reading Rwy (1) Real Silk Hoslery. 1 Remington-Rand.. 4 Rem Rand 1st pf. 3% , 1% Reo Motor Car. 13% ° 1% Republic Steel. » 5 Republic Steel pf.... 10 Revere Cop & Br pf.. 5% Reynolds Metals(1). 2615 Reynolds Tob B (3).. % Richfield O1l. Ins of Amer 7 23% —_— gD% 80 Safeway Stores (3).. 22 9 17% 4% St Joseph Lead. % St L-San Francisco, 1 StL-San Franpf. 1% Savage Arms 7 Schulte Retal 14 Seaboard Air Line. .. 6% Seaboard OI1 Del 40¢. 9% Sears Roebuck. 34 Second Nat Inv. 1% Servel Inc...... 1% Sharon Steel Hoop 1% Sharp & Dohme 5 Shattuck(FG) 214 Shell Union Ol 18 Shell Union Oil uf. 14 Shubert Theaters. 2% Stmmons Co. 3% Simms Petroleum. 6 Sloss-Sheff Steel pf.. 5% Socony Vacuum 40c., 44 So Port Ric Sug 1.60, 863 So Port Ric S pf(8).. Southern Cal Ed(2 Southern Pacific Southern Rallw: Southern Railw: 4 Spicer Mfg pf (3). Splegel-May-Stern Standard Brands (1). Stand Gas&El (1.20). Stand Gas&EL pt (4). Stand Gas&E1 pf (6). Stand Gas&El pt (7). 4 Stand ]nxsl Corp... Stand OiPCalif (2) Stand Oil Kansas.... Stand OII N J (12)... Sterling Secur (A).. Sterling Secur pf.... Sterling Secur cv pf. Stewart Warner. Stone & Webster Studebaker Corp uperheater Co(50¢). Superior Oil. . Symington (A ™% 4% 1 Tennessee Corp. 18% 9% Texas Corp (1) . 12 Tex Gulf Sulph (2).. 1% Tex Pacific Coal&Oil 215 Tex Pacific Land Tr 2 Thatcher Mfg Co.... 874 Third Avenue. 4 2% Thompson Produets. 3, Thompson Starrett. . 2 Tide Water Asso Oll. 20 Tide Water As pf (6) 30 Tide Wat Oll pf (5).. 2 7% 3 1 4 69 Safeway Strspf (7). 310s 9 2 5% 35 30% 5 Y% 30 5214 374 3 20 0% 7 7 50s 108% 4 814 1! . 1032 Hish. Low. 23 Th 5% 1'% Tri- - eey @ REES RERFF 70 Unit |+ 1+ 4+++++1 1 +11+1 - Y % 41+ T% U 8 Pip¢ ‘+ B8P Ree FaE 23 7 Wabash 1 Wabash 11l+++1 4 FEIFFFFF I+ Sju"i“-' FrEy &F 15% 3 T i+ + +1 010 1++ 9% 10:30 AM : 1:30 P.M + o+ *Unit 4% 1in stock. stock. 2% in of tradu a P % stock. Ay NOTE—Today's indi sales Sales of each IM‘ in w'-uu'filu are ~Prev. Stock and . 1nvidend Rate. Hish. 7% Timken Roller Bg(1) 15% 2% Transamerica Corp. E ontl Corp 19% Tr.co Products(2%) 5% Union Bag & Paper. . 2 15% Un Carbide & C(1.20) 115 8 UnOll of Calif (1) 18 27% Union Pacific (6). 6! Unit Afreraft.... 6% Unit Carbon. 3 Unit Clgar Store: 3% Unit Corp (40¢). 7% Waldort Syatem (1). % Walworth Co...... % Warn Bros Pictures. % Warner Quinlan. . 7% Warren Fourd & P 814 Wesson Oil & Sn (1). 20 West Pa Elec pt (6) 22 WestPaELpt (1)... 6615 West Pa Pwr pt (6) 80 West Pa Pwrpf (7). 15 Western Pacific. 12% Western Union. 9% Westing’se Air B(1). Westinghouse Elec Westvaco Chlorine. . Wheeling Steei pf White Rock M S (2). 4 White Sewing Mach. Wilcox Ofl & Gas. Willys-Overland. Wilson & Co Wilson & Co (A). Wilson & Co pf, 22 Woolworth (2.40) 4 5 Worthington Pumi 254 Wrigley (Wm) (3).. 1% Yellow Truck. - 27% 4 Youngstown Sh&Tu 2 15 Zenith Radio. 4 Zonite Products Saies of Stocks on New York Exchange. Dividend rates as payments based on th n edition. Mvggc-flnr'-“:w..d Low. Close. Chue. 16% +1% 5 3% - % 21% — % 3% — % 14% +1% T * Bales— Add 00 4% . 18 % 3% . 21% 3% 13% 7 25% 9% Unit Gas&Im (1. 8% Un't Plece Dye Wks., 2 U S Distributing. ... 6% U 8 Distribyting pf. . 1% U S & Forn 26 US&FornSeepf... 31 U S Freight. 10% U S Gypsum (1.60).. % U S Hoffman ecur. FFEFE FF ¥ &Fdry (2 113 U S Pipe 1st (1.20). STOCKS ARE LOWER ASRARKET CLOSES List Turns Reactionary -in Afternoon Following Gains at Opening. BY GEORGE T. HUGHES. Special Dispatch to The Star. 1 NEW YORK, December 15.—Pirm. in the morning and reactionary in ‘the afternoon, today's stock ‘market leftoff slightly lower. ‘Weakness in United States Steel pre- ferred checked the buying and account- ed for the reversal, which, however, was not pronounced. In the main the market gave a good account of itself. Sterling exchange, substan stronger early in the day, lost mo:.:'z the gain before the close. The market seems to have come %o the conclusion that the French was bullish and that it forces zheul'l.\‘:e’t % |insuring debt revision -before the next U S Tobacco (4.40) .. % United Stores (A)... 27 Unit Stores pf (3%). 12 Univ Leaf Tob (2). Univ Ple 1st pf (8).. 1 Univ Pipe & Rad 15 Util Pwr & Lt (A 5% Vanadium Corp. 7% Vulcan Detinning. RR Dt (A). + of. +ltE REEEE EE 208 0 sSREP t+l+ +1l++1+1+) H 250.000 ehyib}eflln c,lllh:ar n?cl{‘.' apxm 8% us S1 in special pre Stock. i Patd Tast veAr_no Feruls rater P le in serip. 25 Tate: B Phis 6% Ih stock: CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, December 15.—Follow- ing is today's summary of corporation news prepared by Standard Statistics Co., Inc., New York, for the Associated ' Press: 2 Advertising, Printing and Publishing. Packer Corporation omitted quarterly + % | dividend on common stock; last pay- -3 +u% ment on which was 25 cents, on Octo- T s |ber 1, 1082, + 1,| 000 new cars by the end of January; — % | nas 30,000 men at work in assembly + % Automobiles and Trucks. ¥ General Motors Corporation—Chev- 4 | rolet Motor Co. plans to complete 120,- plants, with 18,000 additional engaged * 7 i | in bullding bodies in Fisher plants. — 3% Building, Real Estate and Related Lines. Holland _Furnace 12 Co.—Deficit, ~ % | months ended September 30, $1,513,615, + % vs. et income, $263,311. = + % Corpo 1 |clared an extra dividend of 25 cents Food Products. Cream of Wheat ration—De- — %|and a quarterly dividend of 50 cents - % —2 -1% 1 on common stock. Investment Trusts. Oil Stocks Ltd.—Declared an initial dividend of 20 cents on new $5 par common stock; prior to reclassification | of old no par class A and B stocks into 1, | new' common stock dividends were paid 2| on each class at rate of 10 cents 15 | quarterly. n Machinery. Caterpillar Tractor Co—Deficit, 11 montharpended November 30, $1,179,463. Metals (Non-Ferrous). New York & Honduras Rosario ing Co. declared a special dividend of 3 % % % 215 per cent on capital stock. : oil. % % | sidiary reduced its posted prices for % | crude ofl as much as 12 per cent. W —_—e # SILVER QUOTATIONS. NEW YORK. December 15 () —Bar % | silver steady, unchanged at 25%. Company to Cancel Stock. %! NEW YORK December 15 (Py—Mc- % | Kesson & Robbins, Inc., wholesale drug | % |holding company, has applied to the s | New York Stock Exchange for cancella- tion of 940,831 shares of authorized % | stock which were to have been used for " _1u|employes’ subscription, for debenture + 3| conversion options and other purposes. ¥a — % |The rights and options have expired un- +1% | exercised and the outstanding deben- : uS opgeSrges +% ] + % tures have been reduced, while an in- crease.in the conversion price has cut' the amount of stock necessary for that =% account. - % Ll TE+11+1 S0 = SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co.) d. i o & 2955 oo asuan . ERPITRE SRR SR e | | | Min- | Bosto: Richfield Ofl Co. of California—Sub-| Dt FIRMNESS IN STOCK PRICES CONTINUES Special Dispatch to "l'h. Star. NEW YORK, December 15.—There is o disputing that the current action of the stock market is converting meny of the skeptics in Wall Street to the constructive side. The way in which stocks have re- sisted unfavorible developments at home and abroad has been very impres- sive to the professional mind. How much of the gains have been due to short covering it is difficult to say. It is known, however, that the short interest has not materially de- creased during the past fortnight, so that if there has been retiring of con- tracts for the decline they have been replaced by the selling of other bear- ishly inclined speculators. (Copyright, 1932.) —_— DIVIDENDS ANNOUNCED NEW YORK, December 15 (#).— Pay- Hldrs. of Company. iod. able. ~ record. Cream ok Wheat. ... 25¢ . San Prancisco Bark. $35 . Special. San Prancisco Bank.$50 EX Dec. NY& Hon Ros Mg.25c EX Dec. Initial. Oilstocks Ltd new. . Li oln Life Ins incoln, Nebr) . . 3 Dec. 24 Dec. 31 0l 34 Ling « $2.45 Reduced. Pittsbg-Erie Saw Cor.25c Q Jan. Resu: Bridgept Mach_pf.$1 South Acid & Sulph.75 Chi Ry Equip 7% cum pf .. Packer Corp . 5 5 1 pf. . n Stor Whse . _$. Cincinnati Un St d. Courtauids Lud d 1 o EEEEES §¥ Granite Gold M (Colorado _Springs) . 1¢ Hartford Fire Ins....50c < HARE a 0 L 0O0OOOOD LOOOLOOOOD KOOOOm™E OOD sy Be Spenc Trask ¥ 'Inc Std P&L (Del) pf.$1.75 Textile Banking . .. 50¢ Van De Kamp's Hol D‘:lu:h Bak Inc ©000 000° ke Washington Produce Butter—One-pound prints (93 score), 27; tub, 26; one-pound prints (92 score); 26; tub, 25; one-pound prints €90 score), 25; tub, 24. Eggs—Hennery, whites, 33; current receipts, - 28a30: Government _graded extras, 36; standards, 34; medium, 301:. Poultry, allve—Turkeys, old toms, {10a12; old hens, 12a13; young toms, 14; young hens, 16; No. 2's, 9a10; chickens, Plymouth Rocks, 4 pounds and_ over, 14al5; 4 pounds and under, 12al13; mixed colored chickens and Leghe 9a12; hens, 4 pounds and over, 12al4; capons, 7 pounds and over, 20a22; small capons and roasting chickens, 15a16; ;cm, old, 20a25; young, 25a35; roosters, ultry, dressed—Old toms, 13a14; old hens, 14a16; young toms, 17a20; young hens, 18a20; No. 2's, 11al3; chickens, Plymouth Rocks, 4 pounds and over, 16al17; under 4 pounds, 14al6; capons, 7 pounds and over, 23a25; mixed colored chickens and Leghorns, 14al6; small capons and roasting chickens, 16al8; roosters, 10a12; hens, 4 pounds and over, 15a17. Meats—Beef, 11; veal, 11; lamb, 1415; pork loins, 11 fresh hams, 10; smoked hams, 12; strip bacon, 12; lard, 7; com- pound, 7. Live stock—Hogs, light, 3.30a3.50; medium, 3.30a3.50; heavy, 3.00a3.25; pigs, 3.00a5.50; roughs, 2.00a2.50; calves, 3.00a6.00; lambs, 3.00a6.00. Game—Rabbits, 1.80a2.40. , 50a1.50; box Fruits—Apples, bushe 1.75a2.00; pears, 2.50a3.00. stock, bananas, 75a2.50; oranges, 2.5024.00; 50 alligator pears, 2.00a2.75; Christmas melons, 2.25 1.00; cranberries, 2.00a2. 4.00; kumquats, quart, 20. Vegetables—Fotatoes, 100-pound sacks, New York, 100a1.10: Maine, 125 beets, crates, 3.00; carrots, crates, 3.00; cab- bage, 60a75; red cabbage, 1.50; kale, 25a50; spinach, Texas, 1.20a1.25; Nor- folk, 85a1.00; peas, 3.00a3.75; mush- rooms, 65a75; tomatoes, California lugs, 2.00; repacks, 1.75a2.00; hothouse, 8- pound baskets, 65a1.00; onions, sacks, 60a75; celery, 1.75a2.00; salsify, 100 bunches, 5.00; peppers, 2.25a3.00; let- tuce, Iceberg, 1.50a2.50; cucumbers, 2.00 22.50; squash, 2.25a2.50; broccoli, 3.00a 3.50; artichokes, 3.25a3.50; turni) a65; parsnips, 1.00; squash, 2-peck bas- kets, 2.00a2.50. 3 Holiday Buying Increases. NEW YORK, December 15 (A).— Buying of holiday merchandise has increased substantially since the start of the week, retail circles report. Home furnishings 'and accessories, apparel and m show up best in the business being e. L LT e Collections Improve. NEW YORK, December 15 ().— Credit agencies report that collections by installment furniture concerns arc being made at a better Tate than at lh.: corresponding period last year. THE OLDEST NATIONAL BANK Interest Paid on Savings in the District of Columbia National Metropolitan Bank |_8|4 Fifteenth Street Opposite: U. S." Treasury Whatever - The Amount —of your savings, kept in bank they’ll both work for you and swell the aggre- gate available for business revival. * Open Until 5:30 P.M. Today and Tomorrow For Savings Depositors’ Convenience orns. | &} e | backed payment is due six months hence. At any rate the international situation does not now act as a drag on the stock market. It is the commodity price weakness and the dividend uncertain- :mihwhlgl; are the handicaps, as well s the absence of signs of recov in mgthe]ax\'y industries. i erling sold today on the side st $3.20, the highest of the YQCOVETyelnd . | comparing with $3.14%. the record low touched on November 29. The short in- terest in sterling must be considerably reduced. French francs were quoted early in the day at $3.90, 3-16 cents, or % | approximately the gold export and Paris reported that several houses were arranging shipments to New York on the liner Europa, During the first hour the stock mar- ket was strong, but it later reacted somewhat. New highs on the recovery were reached by Allied Chemical, Amer- ican Telephone, J. 1. Case aud other speculative leaders. U. 8. Steel pre- ferred was still heavy. The oil stocks disregarded the latest evidences of price instability. Shell Petroleum followed the example of Texas Co. in cutting prices. A week ago it was believed that Standard of New Jersey and Standard of Indiana would fall in line with the independents and raise prices, but exactiy the op- pasite has habpened. That is partly the result of court decisions putting cbstacles in the way of proration and partly because of a disregard of agree- " ments by so many small progducers. U. §. TREASURY BALANCE. By the Associated Press. Treasury receipts for December 13 were $5441122.83; expenditures, $9.- 995,789.04; balance, $509,989,725. Cus- toms duties for 13 days of December were $9,948,704.94. e SHOE PRODUCTION. NEW YORK, December 15 (#)—Pro- duction of shoes for November and the current month will approximate 41,000, bring the total for the to about 308,000,000 pairs, mp:r': with 316,000,000 last year, & decrease less than 3 per cent. = o NEW YORK BANK STOCKS NEW YORK, December 15 (#).—Over- the-counter market: (Quotations as of 10 o'clock.) 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