Evening Star Newspaper, December 17, 1932, Page 11

FINANCIAL BOND LIST STEADY AT SHORT SESSION Foreign Group Again Fea- tures Market, With Ger- man Issues Strong. BY CHARLES F, SPEARE. Bpecial Dispatch to The Star. NEW YORK. December 17.—The strength of German bonds was again to- day the feature of the investment mar- ket. The whole atmosphere surrounding these obligations has changed in the past week, when it has been interesting 10 witness the movement toward them and away from other dollar loans that Ppreviously had been greatest demand. The Dawes Loan 7s advanced a point, sclling as high as 76, while the Young Loan 5ls were up another point, around 55. At the same time Prussian 615 rose over a point and 6s !5 point. French 7s and 7las were steady, but there was a drop of 1'. points in Bel- gian 7s. United Kingdom 5':s were quiet. The decline in Canadian ex- change has influenced prices on all the Dominfon loans, with the 5s, which dropped as low as 96 recently, today around par and the 4s up nearly a point. There was also more strength in the Canacian National, Canadian Northern and Canadian Pacific Rail- road loans. The United States Government list was irregular to steady in the premium | bonds and stronger in the discount issues, although the latter still show a smaller average return to maturity than the former. Industrial bonds acted better than rails. United Drug 5s were up 1'. points | to a new high for this movement. United States Rubber 5s gained a point and Dodge Bros. 6s again touched 89. Hudson Coal 5s were quoted around Friday’s low. which was a minimum price for some time, but still about 10 points above the actual low fcr the year. Paramount-Publix issues strengthened | on the news that interest was in hand | to pay the next maturities and Postal Telegraph 5s made a slight advance above what was approximately their low | price for the year. In the rail list there was a decline of 3 in the Erie 55 and 1, in New York | Central 4!5s and the same in Bn]umorei & Ohio 45s of 1933. Consolidated Gas | 5125 repeated their high price of 106. ‘xlmemmon-l Telephone 4!5s were again | eavy. BANK CLEARINGS DROP SHARPLY DURING WEEK By the Associated Press. NEW YORK, December 17.—Bank clearings ‘again show a heavy decline. BOND UNITED STATES. (Sales are in $1.000.) High. Lib3%s 32-47... 10130 Lib 18t 4348 32-47 1022 Lib4th 435 33-38 103 22 . Close. 10130 10130 10132 102 103 20 103 22 9612 9617 984 986 10117 10118 10121 10121 1012 1014 10313 10313 1089 10518 10830 1093 s M41-43. 10118 87 40-43., 10121 1018 % % 10985 Am Sm&Ref 5 Am Sug Ref Am T&T 448 . Am T&T c tr5s'46. 21 Am T&T deb 5560, 23 Am T&T deb 6s '65. 35 Am T&T5%48'43.. 12 Am Wat Wks 58’34, 5 Antloquia 78'45... 4 Argentine 5%8°62. § | Argentine 6559 Ju 2 Argentine 6s A '57. 11 Argentine 68 B'58. 11 Arm Del5%s'43... 5 Atchison gn 4s'95, 29 Atl Gulf&W158'59. Atl Ref db 58 ‘37 | Australia 4128 5 | Australia 5s '57. Austrian 7s ‘57, Australia 63 °55. B & O 1=t 4 B&O4%s B&O 43860, R&Oref 5s'95. B&Orf 55D 2000 B&OP&WV 4s'41 B&OSwdv *5 Batav Pet Belzium 7s Beigium 7s'56 Bell Tel Pa 55 Brail 6138'26-'67., Brazil 6128 '27-'57. Brazil 8s '41, Bremen 7s '35, Bklyn Ed 58 A Bklyn Man 6s A '68 Bklyn UnGas5s'45. Bklyn Un Gas 58 Bklyn U Gas 58 Budapest 63 '62. Buenos A R 6s'61. Buff Gen El 4% s'81 103% 85% 98% 9974 8475 Can Nat 43 " The total for all leading cities in the United States, as reported to Dun's | Review, of $3.853.043.000 was 38.9 per cent under that of a vear ago. New | York City clearings were $2,610.249,000, | a decline of 41.5 per cent. while the | total for leading centers outside of New | York of $1,242,794,000 was 32.5 per cent | smaller. | A contributing cause to the larger loss this week was the heavy corpora- tion taxes payable on December 15, which appeared in part in last vear's clearings, but not for this week. Earlier records show that such payments this year have been much smaller than they were in the preceding year. The heavy declines continue mainly at the larger centers, among them New York City, Boston, Chicago, Detroit, Cleveland, St. Louis, Kansas City end San Francisco, There was a small loss this week at Philadelphia. Some of the Southern | cities again make a moderately better | showing, among the latter Baltimore, | Richmond and New Orleans. Figures for leading centers, as com- piled by R. G. Dun & Co., showing de- creases as compared with same period & vear ago follow (totals in thousands): Boston ... Philadelphia Baltimore Pittsburgh Buffalo Chicago Detroit Clevelznd Cincinnati St. Louis . Kansas City Omaha Minneapoll Richmond Atlanta . Louisville 04 | Dec., 45.3 | Dec,, 474 Dec., 33.0 Dec., 279 | Dec., 37.7 2c., 35.4 | Dec., 36.7 | Dec.. 314 | Dec., 16.0 Dec., 342 | Dec., 22.5 | Dec., 1638 | Dec., 249 Can Nat 55 '69 July Can Nat 55°'70 5 Can Nor db 61, Can Pac 58 '54. Cent 111 E&G 5s '51 Cent Pac 1st 4549, Cent Pac 53 '60 Cen Ry NJ gn 5 Cert-td d! Ches Corp 58 '47 C&Oconss CB&Q4%s'T Chi & Est 111 58’ Chi Grt West 48’5 C M & StP gn 4s'89. o LR NRS AN bl o Chi & NW gn Chi&N'W 4155C'37 Chi& NW 4% 549, Chi RI&P rf 4s'34. ChiRI4%s°60. .. Chi Un Sta 412863 Chi Un Sta 53 B'63. Chi Un Sta 63;5'63. C& WInd5s'62, Childs deb 55 °43. .. Chile 6s'60. . Chile 65 61 Jan. Chile 65 '§1 Sept Chile Cop dbh e Chile Mtz Bk 68 61 Chl Mtg Bk 6148’57 Chl Mtg Bk 6%s 61 CCC & St L 5= D'63 CinTn Trm 55 2020 Clev Term 4%8°'77, j 58 48'87, 9 N il anE0~ anRealaRuand 8o Sl 55 Colomb 65’61 Oct. . Colo & Sou 413535 Colo & Sou 414580 Col G&E 5= '52 May Col Gas & E 55 '61. Com Inves 515549, 16 Con G NY 43851, 21 Con Gas N Y 55 °57. Con G NY 5384, Co BTV Dec., 36.4 | Dec., 412 | Dec., 24.1 ’ Dec., 325 | Dec., 415 | Dec., 38.9 San Francisco. . Portland ... Beattle .. .$1.242,794 2,610,249 .$3,853,043 Total . New York ‘Total, all.... Average daily December to date. November Octeber .. Third quarter 718430 Dec..37.2 | Second quarter. 766,321 Doc., 46.2 | First quarter...... 933,396 Dec,35.0 Dec., 302 Dec,, 28.1 | 350 | $712,056 678,686 154,170 FARM CROP ACREAGE 1 INCREASES DURING YEAR | By the Associated Press. ! The acreage of all farm crops har- vested this year is reported by the De- partment of Agriculture to have totaled | 252,825.000 acres, compared with 349.- | 943.000 acres last year and 357,530,000 acres two years ago. In its final yearly report the depart- ment heretofore has included the value of crops, but this is to be omitted from now on until February of each year. ‘The reason given by officials is that the value of crops based on December 1 farm prices has not been representative of their value. In February a report will give the total gross income of farmers with the value of crops based on the average prices for the year. CHICAGO STOCK MARKET CHICAGO. December 17 (#).—Fol- Iowing is the complete official list of | transactions in stocks on the Chicago | Stock Exchange today: STO Close. | 'S1OS. 3 B 1 10 s e a0l a 70 CK. High. Lo Mig. . Bla ) 1 400Chi N W . 1050 Cities Serv. 100 Construct Mat. 50 Construct Mat pf. 150 Cont Chi. . B 50 Cont 200 Elec Household . 100 Gt Lakes Airc 200 Hall Print 50 Katz Dru 100 150 50 Vortex Cup 50 Waukesha-Mot Chic Rys 5t 50 msull Util 65 + | Lautaro Nit 6s Con Pwr Jap 6%s.. Con Pow Japan 7s. Copenhag 5 Cuba 5155°45. .. Cuba R R 1st 55" Czecho 85 '52. . Del&Hud ref 4s'43 Del & Hud 5537, Denmark 6s°42. ... D&RG W 5855 Det Ed 4155 D '61.. Det Edison rf 5549 11 Det Edison &s " 17 . 14 T 2 9 3 2 1 2 2 2 2 4 2 10 16 8 Dodge Bros 6 Duquesne 41; A'67 Erie gen 4596, Erie ref 556 Erfe ret 5. Finland 7s '50. Fisk Rub 8s '41 Fla E Coast 58 " French Gov 7 French Gv 7%s 28 Gelsenk'hen 6s°34. 7 Gen Motors 65 '37.. 20 Gen St Cas5%s'49. 1 GenThEq6s'40... 5 Ger Cent Bk 6s°38. 33 Ger Cen Bk 65’60 J 31 Ger Cen Bk 63°60 0 23 Ger CenBk 7s'50.. 2 Ger Gen Elec Ger Gen El Ger Gov 5145 '65. .. German Rep 7849, 35 Goodrich 6s'45.... 11 Goodrich 6145 47 Goodyr Rub 58’57 Grand Trunk 6 '3 Grand Trunk 7s '40 Gt Brit&Ir 5%s'37 Grt Nor 4135 D '76. Grt Grt Nor gn Greck 6s 68 Haliti 6552 Hudson s 62. Hud & M adj 55 '57. Hud & M rf 53°57.. Hungary 7%s'41.. 111 Bell Tell 55 °56. . 111 Cent cl tr 45 53. Tl Cent 4% '66 111 CCSIL&N 4%s. 11l CCSIL&N 55 A.. 111 Steel db 415540, Inland St 4148 A'78 Inland St 4% s Int Rap Tr rf b: Int Cement 58 °48. . Int & Gt Nor 6s '52., Int Hydro El 65’44, Int Mer Mar 6s'41. Int Pap 6s'55. .. Int Ry C A 616547, Int Tel&T 415539, Int T&T4%s'52.. Int T& T5x°55.... Irish Free St 55 '60 Italy 7s '51 Ttaly Pub 7s°52. . 4 74.. 10 Y - oo vawaSon~a B RO RBANNARBOHN NS SN s > L3 ) o H ® Kan C F S&M {s', Kan C P&L 43%s ‘61 Kan City Sou 3550, City Ter 48’60, 1 Kan G&E 4%s "80 Karstadt 65 °43 . Kresge Found 1] Kreug & Toll5s'69. Lake Shore 31:5'97 o Samm e 13% 5% 315 107 13% 5% 31 Sa 315 107 w 3 2 h 1% 1% 1% 103103 108 1000 § '?}2..,. Pb Sv NIl 6 000, stock sales today. Bod saies tod Lig & Myers 58 '51. s 2121 121 5 80% 80% 121 5% ¢ THE EVENING . STAR, . WASHINGTO. ON NEW YOR STOCK EXCHANG Received by Private Wire Direct to The Star Office. Sales. High. Low. Close. Long Islrf 48°49.. % 82 82 0. . 5%s 2003, K LTPPrre McKes & R 5%5'60 Mia Mil E Ry&L 68'71. MK&TH5sA'S2 Mo Pac gn 48’75 Mo Pacrf5s A Mo Pac 55 F “17.... Mo Pac 53 G '78. Mo Pac 58 H'8 Mo Pac 5= I'81. Mo Pac 5% 8 A bile-Ohio 58 '38. Nat Dairy 5% s'4 Nat Steel 53’56 . NOT&M5s B'54. NOT&Mb%s'5d. Nw 8 Wales 58’57, 1 Nw S Wales 55 '58. NYC3%a'97. N Y Centdb 4s'34. NYCrf43s2013. N YCrf4%n2013n NYCr£5s2013... 1 N Y Cent @b 8s'35. NYC&StL 4%5°78. NYC&StLE1,sA'T4. NYC&StL 1st 6s'32 N Y Edison 53 B'44 N Y Edison 5s C'51. N YEL H&P 4s'49 NY NH&H 4367 Nia Sh M Nord 6%s 50 Norf Sou rf 55 '61.. Nor & Wn cn 45°96. North Am Co 58°61 N Ger Lloya NorOT& Nor Pac g Nor Pac 4: Norway 5 z Norway 6352, Ogden&T, Ch 4548, Ohio Pub T%s "46. . Ore Sh L 55 gtd '48. Oreg-Wash 43’61, Orient Dev 65 '53 Pac G&E 5542 rac T&T 18t §5° Pan Am Pet 6s°40.. Paramount 6s °47. . Param-Pub 5%s'50 ParisOr 5%s'68... Penn sta 45 '48. Penngn 4%s’6 Penn 41:s D '70 Penn 4%8°63...... Penn 55 '64. Penn 615536, . Penn P&L 41%="'8 Pere M 1st 5556 Peru 65 °60. Peru 63’61, Phila Co 58'67. Phila Elec 45 Phila & Read 6349 Phillip Pet 5% 839 Poland 8s 50 Port Gn EI 41 Pos Tel & C 5s * Prussia 6s'52 Prussia 676851, Public Serv 4s'71.. PubSv G 414867, Pub Sv G 41287 Pure 01513840, .. Read Jer Cn 4s'51. Rem Arms 6s A 37 Rem R 5% sA"4Tw Rhinelbe U 78 '46. . Rhine Ruhr 6s Rhine West 6s°'52., Rhine West 65 '53. ., Rhine West 68°55.. Rich Oil Cal 6s'44, Riode Jan 61;8'53. RioDeJan ext 8='46 R Gr Do Sul 65°68., R Gr Do Sul 85 '46. RIAr& L 4l%s'34 Rome 615s" Royal Dutch Rumania 7s '59 StL IM R&G 45 StL&SF 4%s°78. StL SW 1st 5s'52. Sao Pau 7s"40. Sao Paulo 8: 0. Saxon P'W 614851 Saxon 7s*45. Seab AL A Serbs-Cr-S17s°62., Shell U0l 55°47... Shell U O 58 *49ww., Sinc Ol 6155 B '38. Sinc Oil 37, Sine PL Skelly Ofl 5145 '3 Smith(AO)6%s "33 Sois=ons 65 '36. . Solvay Am 5s'42 Sou P’ac col 4549, Sou Pacrf 4 Sou Pac 4% Sou P 4%’ Sou Pac 4% Sou P&OT 414 Sou Ry gn 45 A'56., St ol t Of1 Studebaker 6s "42. . Sweden 5%8 54, Swiss 5145 '46. Talwan E P 5%s'71 Tenn E1 P 65 A "47. Ter As St L 5s '44.. Tex Corp cv 58 44.. Tex & P35 C'79 Tex & Pac 5s D '80. Third Av rf 45 '60.. Third Av adj 5860, Tob P NJ 6%s 2022 Toho El Pw 75 '55.. Tokio 5% '61 Toklo El Lt 65 '53.. Un EIPSL ref 55'33 UE&P 1st 5145A'54 Union El L&P 58’57 Un Pac 1st 48°47. Un Pac rf 4s 2008 Un P 1st rf 55 2008. Unit Drug 58 *53...1: U S Rubber §s "47.. UnSt W 6128 A’47. Un St W 6348 A'51. UdSt W 6%s C'51. Uruguay 6s "64. Utah P& L 5544 Util Pw 5559 ww.. Util Pow 5%s5'47.. Vanadium St 58'¢1. Vienna 6s " 5 Va Ry 15t 5s A '62. Wabash 415 '78. Wabash 1st 55 '39 ‘Wabash 5s B '76. Wabash 55 D80, Wabash 5%s'75 Walworth 6s A 4 ‘Warn Br Pic 6s°39. Warren Bros 6s'41. Warsaw 7s 38, West El db 58 '44 West Md 1st 4s '52. West Pac 5s A "46. . West Union 5860, Westphalia 65 '53. Wh Sew Mch 65 '40 Wil & Co 1st 65 '41, Wis Cent Tm 45'36. Yokohama 8s 61 Ygstn S&T 6s A’ Ygstn S&T 53 B'70. Grain Market By the Associated Press. CHICAGO, December 17.— Wheat prices averaged higher earlier today after a wavering start. Liverpool wheat market was steadier than expected, and indications were that liquidation at Winnipeg had culminated. Opening unchanged to % lower, Chicago wheat futures tended upgrade _afterward. Corn staried % decline to 1 advance and subsequently scored all 80% around. PRODUGE MARKETS IN FIRMER TREND Increase in Potato Prices Proves Feature of Re- cent Trading. The center of interest in the mid- month produce market was the upswing in potato prices, says the United States Department of Agriculture, Bureau of Agricultural Economics, Market News Bervice. The long period of light re- ceipts had left the large city markets unj red for the storms and cold wave. _Shipments were cut down to about 300 cars a day. When the Chi- cago market advanced 10 cents per 100 pounds and held the gain, the ship- ments began to increase again, but prices were still holding firm. Sweet potatoes continue a weak feature and prices are extremely low. Cabbage shows a steady price tone, with ad- vances in some markets. Onions hold part of the slight rise made early in the month. Apples sell at irregular prices, but the main trend of the season has been slowly upward. Supplies of southern vegetables are increasing. Acreage of some lines shows much extension, espe- clally in Texas. Growing conditions of many southern truck crops are below average, and the less hardy kinds rate poorly because of frost injury, Potatoes Hold Gains, Light shipments, averaging not more than 300 carloads daily, lend support to the recent fairly sherp advance in the potato market which carried prices upward 10al15 cents per 100 pounds in many markets. The rise was being well maintained around the middle of the month, Haulings from farms to ship- | ping points have been light because of | low temperatures or poor condition of the roads. Carlot movement is only about two-thirds that of correspons days a year ago. Eastern shipments have been better maintained than those from the West, Higher prices in the East tend to keep Eastern shipments within bounds. Move- ment to Pittsburgh or other points further West has been light, and it is probable that Maine shipments into distant areas will be much lighter than last season. Lower freight rates on Western potatoes to gulf ports have lessened the opening for Eastern pota- toes in some Southern markets. Some Maine growers are inclined to hold for $1 a barrel in bulk They are paid an average of about 80 cents now. The mid-December market for sacked stock | at shipping points was firm at 58 cents | per 100 pounds. Dealers in Western | New York producing sections averaged | about 68 cents, and Midwestern, shippirg points were firm at 50a60 cents. Many Eastern shipping districts | have shown a fairly steady upward | trend since digging time, the advance « |amounting to about 25 cents per 100 | pounds in some instances. Price of | bulk stock in Maine has nearly dou- | bled since September. Maine potatoes bring 1.00a1.35 per 100 pounds in Eastern city markets, New York. New Jersey and Pennsyl- vania round white varieties sell at 85a 1.05, and a sithilar range is reported on Chicago market is fairly steady at around 75 cents per 100 pounds by the carlot. Sweet potatoes are in moderate sup- ply in most city markets but reported light at Philadelphia. Demand is slow and markets about steady at prevailing low levels, ranging from 25a65 cents per bushel on general run of Virginia, Maryland and Delaware receipts. Red yams brought 50a75 cents in New York and 90 cents in Boston. New Jersey sweets of the Jersey type sold at 60a 1.15 per bushel in Eastern cities. Ten- nessee Nancy Halls ranged mostly 60a65 cents, Cabbage Markets Unsettled. Action of the cabbage market was | | There were recent further advances in | show little change. higher in Wisconsin producing sections and in some Western cities than in | |the East. The bulk of shipments of | Northern cabbage comes from Western | .| New York, where the market s hold- |ing only Tfairly well around 6.00 per . | ton in bulk. This stock sells at a near- ly unchanged general jobbing range of 10.00a15.0) in Eastern cities. Ship: | ments of Southern cabbage from Texas, | Florida and South Carolina are in- | + | creasing and prices tend lower, ranging {75“ 25 per one-half bushel hamper in | Eastern city markets. | Onion markets report supplies gen- | |erally moderate and demand slow. | ‘There was little change in the price situation compared with early in the month. The leading markets report | moderate supplies and slow demand, with jobbing sales at 40a50 per 50 | pounds on Eastern vellow stock. Some | of the best lots bring 60 cents. Red | onions sell close to the pric2 range of | the yellow kinds in most markets. i Demand for onions is slow at ship- ping points and prices range from 30a 38 per 50 pounds. About half a dozen carloads of car- rots are shipped daily from the Roch- ester district in New York. They sell around 45 cnts per 100 pounds sacked. and at 42a45 per bushel for washed | stock. The bu'k of the carrot supply is from the new crop in California. The volume of celery remaining in cold storage in Western New York is unusually heavy, probablv 40.000 crates larger than it was a year ago. Prices have been extremely low in comparison with the added expense of storage. Sales are most at 75a85 per two-thirds crate. There was a sudden advance near the middle of the month. owing to reports of frost damage in Californie, and some sales were made at 1.0) per iwo-thirds crate. Citv markets responded to some extent and the jobbing range in the East advanced to 1.00a1.35. Lettuce also showed a disposition to advance in producing sections and in some city markets. Tomatoes advanced rather sharply, best Florida stock reach- ing $4.50 per six-basket carrier in New York. Market improvement extended to hot house tomatoes, which gained 15-35_ cents per eight-pound et in New York on receipts from Ohio. Not much change was reported in the trend of the apple market through the first half of December. A few varieties seemed to have a scarcity value and tended higher. On the whole, prices in Eastern apple markets for Eastern fruit average fairly close to the levels of a year ago, although quotations on varietes differ according to the supply or season’s quality. Some Eastern and Southern apples sell considerably high- er in producing sections than is quoted for best boxed apples in the Northwest. Lack of recent export demand has hurt the Northwestern market and prevail- ing prices at shipping points leave little for the grower after harvest and pack- ing house expenses. Eastern dealers also, who are usually active in the ex- port trade, report practically no cur- rent business frcm this source. For domestic markets, a few sales of Mc- were made in the Rochester district at $1.10 per bushel and Bald- mins at $1.10-$1.20 for storage stock. Greenings from cold storage sold at 75-80 cents and Baldwins from common storage at 90 cents. City markets are moderately supplied but demand is slow. Baldwins at job- bing sales bring 90 cents-$1 per bushel and Staymans follow a wider range of 65 cents-$1.40. Black Twigs sold at Baltimore at 75-90 cents in mid-Decem- ber. Eastern Yorks ranged 60 cents-$1 in three Eastern markets. New York Greenings sold at 75 cents-$1. Such varieties as MclIntosh, Delicious and Jonathan brought from $1-§1.35 in most markets. Grimes are rather scarce now and reach $1.25 in Washington. Barreled apples of standard varieties range in Eastern markets from $2.25- $3.25. Maine Baldwins appesred in Pittsburgh .markets at $1 per kushel. somewhat irregular after the rise of | late November and early December. | CURB SHARES FIRM INDRAGGY MARKET List Shows Tendency to Move Forward—0il Is- sues Weak. BY JOHN A. CRANE. Special Dispatch to The Star. NEW YORK, December 17.—The Curb Exchange firmed up in today's inactive session after opening - virtually un- changed. Electric Bond and Share at times was up a half point, with Standard Oil of Indiana down, about that amount. Citles Service clung around its proceeding close. American Gas & Electric was unchanged. Howard O. Sikes, president, announced from the rostrom the expulsion of Joseph Mo- garrity of Mogarrity & Co., whom the governors found guilty of violating sections 7 and 8, article 17,” of the constitution, which deals with just and equitable principles of trade. The opening trend was not much influenced by the character of over- night news, such es the weekly trade reviews' emphasis on Christmas buying and declining industrial operations. The decrease in weekly car loadings was less than anticipated. A revision in airmail payments long had been ex- pected, 50 today's discussions have been discounted on the tape. Ofl issues again were offered, as fur- ther price reductions were made public. Ohifo Oil lowered some of its crude quotations. A rise in meat packing sc- curities, especially Swift & Co. and Swift International, featured food shares. Cord Corporation outdistanced the motors, though Ford Motor of France and Stutz staged rallies. Markets at a Glance NEW YORK, December 17 (A).— Stocks steady; list drifts narrowly. Bonds steady; United States Govern- ments firm. Curb steady; specialties | firm, Foreign exchanges steady; ster- ling firm. Cotton higher; trade buying; | higher cables. Sugar quiet; commission house support. Coffee irregular; trade buying. Trust Company Dividend. BALTIMORE, December 17 (Spe-| cial).—Directors of the Title Guarantee Trust Co. have declared a quarterly dividend of 2 per cent, or 50 cents per share, on the $25 par value capital stock, payable December 20. This is the same rate as paid on September 30. BONDS ON THE CURB Sates in thousands. # Alabama Pw 4 Alabama Fow 53 DOMESTIC BONDS. High. Maryland and Delaware red varieties. | A% | 13% Baldwin Lo 2 Bell Tel Can | 4 Bell Tel Can 5 m E: | | Carolina 4 Cent Il 9 Cent Pw & Li . | 13 cit ice. 7 E 3% v D. C., SATURDAY, DECEMBER 17, 1932. N. Y. CURB MARKET Received by Private Wire Stock snd Bale— Dividend Rate. Add 00. Am Beverage. Am Brit & Cont, AmCitlesP& LB, Am Comwlth Pw A Am Cyanamid B... Am El Sc pt pf new. Am & For Pw war.. Am Founde . AmGas & El (31).. Am Investment.... AmLt&Tr (2%).. Arkansas NtGs A. Asso Gas & Electric A350G&E&EAD5%. Atlas Utllities, Atlas Ut war..... Auto Voting Mach. Elue RIdge........ Brasilian T, L&P.. Buff N&E 1st pf(5) Butler Bros. : Cable & Wire A rcta Canadisn Marcon. Carnation Co (75¢). Celanese Cp pf (7). Cent Pub Svec A Cent States Elec... Cities Servi Citles Service pf... Citles Sv P&L $7 pf ColG&Ecvpf (5). Col O1] & Gas vtc... Comwlth Edis (5).. Comwlith & Sou war Comstock Tunnel. . Courtaulds(k13%c) Creole Petroleu Cuban Tob vtc. Deere & Co. . De Forest Radlo. Detroit Aircraft. .. Dictograph Prod. .. Dubilier Cond & R. Easy Wash Mch B. Slec Corp. .. & Share b6 % ElecP&Lt2dpf A Eureka Pipe L (4). Tisk Rubber (new) Florida P & L pt(7) ¥Ford Motor Can A. Ford Motor France, Ford M Ld.... Goldfleld Consol. Gold Seal El new Goldman Sachs. Gulf Oil of Hudson Bay Min Humble Oil (2) Hygrade Food. Towa So Util pf (7). 1mp Ol of Can Soc. InsCoN Am (2)... Intercont Pete, Int Petrol (1). Int Util B, Interstate E Interstate Eq Isle Roy Cop | Ital Superpw FINANCIAL. Direct to The Star Office. Stock and Dividend Rate. Add Lake Shore Min(13) 00. High. 10 29% Lakey Fdy & Mch, 1 LongILempt B Mavis Bottling A... & Sh Md B b5 % Novadel Agene (5). Ohio Copper PacGAE 1stpf 1% Pan Am Afrways.. Penroad Corp...... PennP & L pf(7) Pepperell Mfg Co. . Phoenix Secur Corp Plot Radio Tube A Ploneer GM Ltd 14e Prudential Inv..., Pub Util Hld x Pyrene Mfg. . gllnhow Lum A, 11 Investing Roosevelt Field St Anthony Gol St Regis Paper. Shenandoah Corp. South Penn 0il (1), Stand O1l Ind (1). .. Starrett Corp. Stutz Motor Car Sun Investing. . Swift & Co. Swift Intl (14). Tech Hughes (80c) Thermoid cm pf, Tobacco Prod Del Trans Lux DL P S, United Corp war. United Founders. .. Urited Gas...... Unit Gas pt (3%) Unit Lt&Pwr (A) Unit Lt & Pwr pf.. US Elec Pwr ww. . United Stores vtc., UtlP&Lt... Utllity Equities. Util&Industrial pf. Venezuela Pet Walker (Hiram)... Woodley Petrol. ... Wright Harg(t20c) SronanmnS vown wmo Znaman @ S ww “Y” Ofl & Gas (A).. 13 Dividend rates in dollars based on last | quarterly or semi-annual payment. *Ex dividend iPartly extra. tPlus 4 in stock aPasable in cash or stock. b Payable in stock. e Adjustment dividend. fPlus 5% stock. gPlus 6 in stock. hPlus 1% stock. ) Plus 2% in stock. k Plus 10% stock. mPlus 3 in stock. n Plus 8% stock. p Paid last year—no regular rate. ;COTTON PRICES FlRM 7 ' AFTER RECENT DROP nical Pesition Due to Covering and Trade Buying. By the Associated Press. NEW YORK, December 17.—The re- | cent decline in cotton which carried the price of March contracts here off to 5.53 following the Government cro report of last week, left the market in {a much improved technical position. Scattering long accounts had evidently | been liquidated, while there was nothing | to indicate that the increased crop fig- | ures had disturbed remaining holders of | spot cotton in the South, and with of- 3 |ferings from that source light, prices | responded to a comparatively moderate demand. This was attributed to cover- ing and continued trade buying for | both, foreign and domestic account, | which carried March up to 6.17 or about $3_per bale above the recent low level. Midwestern cities, but Fastern markets | Cabbage is selling | 18 Com Edis 4s F 1 Con Gs Ut Gi'as | ,2Con Gs Ut 6 | 4% Consm pow 4t 1 Crucibie Stee 1 Cudahy Peky 1P &L 1 Indnp P&L 55 A ' 1 Insull Ut 6s B "10. o Intern Ec Am 1 Intersta Pw us # Interst PS 4725 3 4 Jers CP&L 4'2¢ C 4 Kentuck H ¢ L 425 1N Con U 51,5 A 3 Nor Ind P S 5s C 6 2 Nor Ind PS 5s D 9! i3 1B 1S N1 0 3 19"gog g 020! BEuny Py e 2 G ozaneun g i) o Zuson ) EES 5 909 ] nish Cons s FLE tas A 163 ranh Braz 7s ‘58’ P 64s 53 3 54 A £ i —ZBo st moB s pisam S wi B 48 ctf NC *if finnes 78 36 xw. .. 1 Stinnes_7s °46 12 Terni 8o 6las WW—With warrants. xw—Without warrants, n—New. wi—When issued. xw. . 100% 100% 100 100 39 1 25 o 10 0 bt 10! )5 X1 | Demand then tapered off somewhat, | while a little more southern selling de- veloped toward the end of the week, leading to slight set-backs, but the ma: ket showed a continued steady under- tone. While trading has been fairly active at times, general business has been re- ted by the unsettling effect on gen- 1 sentiment of developments in con- nection with the international debt pay- ments, and_uncertainty as to the pros- + | pects and finsl provisions of the farm . | relief legislation which is being dis- cussed in Washington. Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md. December 17.— ‘White potatoes, per 100 pounds, 85a 1.10; barrel, 1.2521.50; sweet potatoes, bushel, 25a70: barrel, 5021.00; beans, bushel. 2.00a4.00; beets, 100, 1.50a2.00; brussels sprouts, quart. 10a15; cabbage, | basket, 25a30; carrots, 100, 1.50a2.0 crate, 1.50a1.7 1.50: cucumbe: cggplants, crate, 2.00a3. | lettuce, crate, 2.00a3.00; onions, 100 7 ° | pounds, 75290; peas, bushel, 2.65a325; » | peppers, bushel, 1.75a3.00; spinach, * | bushel,'85a1.40; ' squash, bushel, 1.50a o1, 1.75; apples, bushel, 25a1.75; tomatoes, '+ | lug, 1.25a2.50; washed turnips, bushel, | 30a40; cranberries, bo: 1.7582.6: grapefruit, box, 2.25a3.00; oranges, bo: | 2.5023.50; strawberries, pint, 27';a30; ; | tangerines, one-half strap, 1.25a1.75, Dairy Markets. Live poultry—Turkeys, hens, pound, 16al7; gobblers, 13al4; old hens and toms, 12a13: young chickens, 10a13; Leghorns, 10all; old hens. 10al4: Le horns, 10; old roosters, 7a8; ducks, 10a 12; geese, 10a14; guinea fowls, each, 15a 25; pigeons, pair, 10a15. Eggs—Receipts, 829 cases; hennery whites, dozen, 34a36; nearby firsts, 32a 33; Western firs| 32a33; Southern firsts. 30a32; current receipts, 30a32. Butter—Good to fancy, creamery, pound, 22a27; ladles, 16a17; store packed, 12a13; process butter, 18al19. 57 1 S14 S 91 Railroad Revenues. NEW YORK. December 17 (®).— 4 | Standard Statistics Co. says gross reve- nues of class 1 railroad may show & decline in the first 1933 quarter of no more than 7 per cent from the 1932 period, Net operating income in the first quarter, however, “could show a gain of about 18 per cent, chiefly be- cause_the 10 per cent wage reduction ‘was not in effect in January, 1932." . Market Averages By the Assoclated Press. Today .. . Previous ' day. eek. S, £ CYNSpEape + | amstmpann S3ZF32R22E eSszoy BoBEa . 8. o3, 32823 ? SRR 8 Boeann |0TULOOK FOR SHOE | TRADE IS BRIGHTER i crease in Orders for Spring | Styles. | By the Associated Press. CHICAGO. December 17.—The shoe business, which in five months of 1932 | has exceeded its production for compar- ative periods of 1931, hopes to start the | new year with a rush of buying. Nearly 3.000 shoe merchants from all |parts of the Nation will gather in | Chicago, January 9-11, to replenish | their stocks during the' convention of the National Shoe Retailers’ Association. “There is reason to expect very sub- | stantial buying for early Spring re- | James H. Stone, manager of the asso- ! ciation. Already, Mr. Stone said, there has been a “noticeable acceptance” of better | grades of shoes, in response to retailers’ | | campaigns for emphasis on sales of quality products. |~ Perhaps the biggest problem of the | retailer today, he said, is to bring his | volume of sales up to unit sales in dol- | {lars. Thus far many dealers have been unable to achieve this goal, principally | | because of inability to adjust overhead costs in the proportion that prices of their products have dropped. New Department of Commerce figures | show that the shoe trade in October, for | the fifth month this vear, showed an in- crease in production over the corre- sponding month of 1931. For the first 10 months this year, production of reporting plants—includ- | |ing all principal factories—was 267.- | quirements curing the convention,” said | MIDWINTER AUTO PRODUCTION IS ON ” Practically All of Leading Firms Are Turning Out New Models. By the Assoclated Press. DETROIT, December 17.—For the first time since the plan became parg of the permanent policy of the auto- mobile industry, the builders of motor cars are having an opportunity to test in large measure the advantages of the Midwinter production of new models, Up until the beginning of the chaotio conditions that followed the collapse % | of the motor car market in the Fall of 192¢ new models usually were brought out in the Summer season, often stretching over the period from early June until late August. It was argued in turning to the Midwinter presenta- tion plan that employment would be afforded at a time when it was most needed and that production would be at a time when demand was normally at a lower point than during the Sume mer months. A New Plan in Operation. Not until this year, however, was it possible to get the majority of the pro= ducers into joint action on the plan. Virtually all of them now have their production programs arranged to coin- cide with the plan sponsored by the | National Automobile Chamber of Com- | merce, and while several have brought | their new cars out a few weeks before the time originally proposed, in the main the year-end model scheme may | b2 sald to be in full swing at present. A notable exception, of course, is the Ford Motor Co., which makes fewer changes in its models than other pro= ducers. The ccmpany. too, is one of the few important producers not meme :rs of the National Automobile Cham= z. ‘That the employment phase of the lan is being borne out apparently has gcefn shown by the recent reealling of a substantial number of former ems ployes by various manufacturers, body plants and employers in related lines, Leaders of the industry are careful to point out that the men recalled are all former employes in their plants and that the waiting list is considerably greater than can be provided for. - They add, however, that if business conditions were anywhere near nor= mal the number of men returning to work would be great enough to em= phatically justify the year-end new model plan on the basis of employ= ment alone. Under present conditions the pro= ducers are unable to make any definite predictions as to how long their plants will maintain the schedules adopted with the beginning of new-model out- put. While some of the plants are un< cerstood to have orders to insure opera- tions under limited production schedules for the next three months, the output wiil be kept in close consonance with de- mand, and if retail demand does not materialize after dealers have been pro- vided for, factory operations will be re- duced accordingly. The current week finds virtually every plant of sizable capacity in production to some extent, with output schedules | based largely upon the immediate re- quirements of the retail division. The plant activity follows a period of cur~ tailed operations that was extended somewhat to enable the dealer organi zations to dispose of current models bee fore the new types were presented. Annual Exhibition. One of the immediate concerns of the | production managers is to have all | dealers in the remote communities as | well as in the larger centers provided | with the new vehicles when the New York Automobile Show opens on Janu- ary 7. although most of the new types will have had their initial presentstion before that date. With retail demand |at a lower point than is usual even at the present season of the year, the traf- fic men of the industry expect to have every dealer provided for before the ex= hibition opens in New York. ‘With the opening of the national show on January 7, New York will be- come the automobile headquarters of the world for the time being. for the heads of most of the leading motor car companies of the United States snd many from E’umr will be on hand for a series of conferences having to do with a variety of subjects affecting the industry. YOU DON'T HAVE TO PUNCH A CLOCK if you have the punch. For information address Box 312-E. Star 949.102 pairs, compared with 278,166, 092 in the sanfe period last year, or a de- cline of only 3.7 per cent. Increases over 1931 production were | reported for January, February, March, September and October. This year much advance buying nor- mally done in June. July and August | | did not mature until September and October. reflecting an apparent tendency by retailers to withhold advance orders as long as possible. i — BALTIMORE STOCKS. First Mortgage Loans Lowest Rates of Interest and Commistion Thomas J. Fisher & Company. Inc. =~ The C ommercial National Bank Special Dispatch to The Star. BALTIMORE, December 17.— Last sales. eas | 20 Pinance Co of Amer_ coi | 30 Maryland "Casualty Co. . : 100 Mt Bond & Title Corp com 30 New "Amsterdam Cas Co... ... 100 Ubsted Raitwavs & Eiect ways & i 55U'S Fidelity & Guaranty. o PO o BONDS. £000 United Rwy & Elec 1st dollars are Ower a Third and they w of a % Century Without a Loss to an secured by ington real May be Investor. National 2100 THERE 14th and G Strects Complete Banking Service INVEST YOUR_XMAS ) MONEY IN SAFE FIRST MORTGAGES We offer a list of well chosen, income. nruflutm; Pproperties in_the Nation's Capital —Ssecurec by direct Pirst Mortgage and bl:lfl !g ourlem':‘rmu\ls r;::urer - enominations a Monthly rum’em: II'D:u‘lr:d‘... MORTGAGE AND K Street - RANTY Cf UNPRODUCTIVE MONEY is a menace rather than a help. Idle like idle people, they are apt to get into-mischief. Invest your surplus funds in our 6% FIRST MORTGAGES ill work fof you, earning satisfactory wages, with principal first trust on conserva- tively appraised improved Wash- estate. purchased in amounts from $250 up. B. F. SAUL CO. 925 15th St. NNW., IS NO SUBSTITUTE FOR SAFETY