Evening Star Newspaper, January 14, 1933, Page 13

FIN BONDLITLOVER ASOFFERNES GAN Dealers Stand Aside Pending Clues to Future Course of Market. BY CHARLES F. SPEARE. Special Dizpateh to The Btar. NEW YORK, January 14.—The gen- | eral trend of the bond market today | was downward, although a number of | issues in the early part of the session | showed. considerable strength. The effec! of the reaction in sentiment developing in the Iatter part of the week was ap- arent on dealers, who have withdrawn heir bids and are standing aside to see how the market acts during the next féw sessions. The possibility of a new Government losn with a 10-year maturity and a| 31, per cent coupon early next week | had its effect on the discount Treasury | 31 and 3 per cent notes, which were | siightly lower. The Fourth Liberty 414s | were romewhet heav a8, with premium of nearly 313 points, the pros- pect of taking them up, at least in part, next October at par makes their | position unattractive to holders. German iscues were '3 to 1'% points lower, with the government loans acting | better than corporation and municipal issues. Australian 58 declined a point | ment_bonds we: The City of Lyo 6s, which are due next year, sold at a new high price and at a premium of nearly G points. The postponement of the sale of the Liggett interest in the Boots Pure Drug Co. of England caused a further decline of 5% points in United Drug s, which | were heavily traded in and met support 60. U. 5. Rubber bs were fraction- | ally lower. Attention has been drawn | 1n the last few days to Wilson 8s, which have held up remarkably well all through the depression and are now at the highest price in about a year. Among the rallroad bonds those of | Missouri Pacific were weakest, showing losses of & point. Southern Pacific 4145 advanced 1'; points, Union Pacific 4s were up & point and small fractions were added to the prices of Atchison bonds. Columbia Gas & Electric 5s gained nearly a point. New York Trac- tion bonds were 3 to 3 higher. A large number of Equipment Trust certificates are payable on Monday. Censiderable interest was taken today in the attitude of scme of the weaker carriers toward these maturing obli- gations, AUTO TRADE PRAISES ANNUAL EXHIBITION fales of Higher-Priced Cars De- clered 300 Per Cent Greater Than Those of Last Year. Special Dispatch to The Star. NEW YORK, January 14.—The motor industry expresses itsclf as well pleased at the atlendanc> and sales made at the thirty-third annual National Auto- mobile Show here_whicl cnds a week’s Tun tonight. w Attendance up to Thurday night was below that of 1932, but the crowds seeking admission that night and Fri- day blocked traffic on the streets ad- jacent to Crand Central Palace. Sales of machines in the price class cf $1,000 or more were 300 per cent above such orders at the 1932 show. Sales of low- priced cars werc said to have been satisfactory, but no figures were given out. Aside from the business provided for decorators, drapery and carpet manu- facturers, commercial printers and pub- lishers; the hotels benefited largely from the show. Automobile makers occupied 22 per cent more display space in hotels during. the current ex- hibit than they did a year ago. ‘Wall Street, throughout the expo- sition heard conflicting reports about attendance, sales and models. The present show, in point of money expended, in decorations anc models, was the most costly in the his- tory of the industry. Some tech- nicians termed it the most inter esting show. Portions of the public praised it as the most beautiful. Women | generally agreed that the new color schemes were the best ever displayed, but they, as well as their escorts, either | liked or disliked the show depending on whether or not they cared for mod- ernistic designs. (Copyright, 1933.) Steel Scrap Prices Advanced. NEW YORK, January 14 () —There 1s more activity in the Pittsburgh and Chicago steel scrap markets, and the former shows an advance of 25 cents a ton in the general price levels during | the past week, according to reports in the steel trade. Improvement is said to have been based on buying of railroad heavy melting steel at $9 a ton. CHICAGO STOCK MARKET CHICAGO, January 14 (#).—Follow- ing is the complete official list, of trans- actions in stocks on the Chicago Stock Exchange today: Sales STOCKS, High. Low. Close ANCIAL BOND UNITED STAT (Bales mn:n $1,000.) igh Low. 10228 102 24 88247 10220 #33-38 103 :: 10210 106 26 101 11016 110 Sales. High. AbItIDI PEP 58’53, 8 4% Alleghany 58 44... 11 Alleghany 5a'40.., 8 Allegnany Bs°'50... 8 Allia-Chalm 68°'37. 35 AmF P58 2030.... 39 AmIGChEie'4d. 2 Am Intl5%s'49.., 39 Am 8m&Ref b5 47, 19 ‘3 102 104 25 Am T&T deb is 60, Am T&T deb 53 '65. Am T&T 518 Am Wat Wka & Argentine 534862, Argentine 68 A '57. Argentine 6s B ‘58, "Arm & Co 41439, Arm Del b8 '43... Atchison gn 4s Atchison 4148 '48 AtICLcl4s’'s2 At1CLun4 At] Guit& W1 Atl Ref db b Australin 4348 Australia 6s'65.... Australia bs '57.... Austrian 7s '57. R& O ref 55 B&Ort 6s B & O 8w dv s '50. Ban & Aroos 4s'51. Batav Pet 414842, Belglum 68 '55. Belgium 6% Bolgium 75 '55. Belgium Bell Tel Pa b= B'4! Bell Tel Pa bs C° Benet Loan 6s "4 Berlin 61550, ... Berlin CEl1 6%8'51. Berlin C El 6348’69, Beth St1rf Gs'42..,. Bolivia 78 ‘6 " Brail 6382 Brazil 615 BrazilCR 78 Brazil 85 ‘41 Bremen 7s '35 Bklyn Ed s A 49 Bkiyn Elev 6%4s Bklyn Man 6s A ‘68 3| Bkiyn UnGas5s'45. Bkiyn Un Budapest 6s '62 Buenos A R 6s '61. BR&Pltts 434857 Bush T Bldg 55'60. Calif Packing 55’40 Canada 45 '60. Canada 4%s Canada 5 ‘52 Can Nat Ry 4% 1 Can Nat Ry 4%s'55 20 Can Nat 55 '60 July Can Nat 58 '69 Oct., Can Nat 6s*70. ..., Can Nor db 634 &' Can Xor deb 7s " Can Pac db 4s. Can Pac 4%s '46 Can Pac 43560 Can Pac 53 '44 ¢ Can Pac 58 °54., Car Clin & O 6s '52. Cent Pac 1st 45 "49. Cent Pac 5860.... 1 Cen Ry NJ gn 55'87 Cert-td db 518 '48 Ches Corp 5s 47 C&Ogen 414592, C&O434sA'93... 5 97 1004 105% | YTy 7 Chi & Est I11 58'51. Chi Grt West 48’59 12 Chi M & StP 4%sC 15 CMBtP&P 58'75.. 37 CM&StPadjbs.. 20 Chi&NW gn 31,5'87 4 Chi&NW 41 2037 10 Chi&NW 41%sC'37. 9 Chi & NW 4% 5'49. 29 Chi&NW rf 552037 1 Chi & NW 614 4 Chi RI&P gnds’88 1 Chi RI&P rf 45 '34. 26 ChiRI4%5°60.... CTH&SF 1st 55'60. CTH&SE in 55 '60. Chi Un Sta 435 '63 Chi Un St 55 °44. .. Chi Un Sta 5s B'63. Chi Un Sta 6%5'63. 2 62 Childs deb 53 '43. Chile 6560 Chile 6s'61. Chl Mtg Bk 6%s 61 Cin Un Trm 5s 2020 1 CCC & St L 55 D'63. Clev Term 5s B '73. Clev Ter 5%8A'72. Cologne 615 "50. .. Colomb 6s ‘61 Jan Colomb s ’61 Oct.. 10 Col G&E 55 ‘52 May 34 Col Gas & E 55 '61. 30 Com Inves 5%s°49. 16 Con G NY 43%s'51. 51 3 Con G NY 5%s"45. 17 Con Pwr Jap 6%s.. 8 PN A RN BN BLTTON A D TA N 50 Asbestos Mg ..... 2 : " 1002 104 . | ar 3 Sec pt 7 i o 400 Chi_Corp .. . | 50 N Chi Cord pf.... | g50Chi N W... . 4y | 400 Cord Corp i 3 3 | So0 Blec Houseioa’ 11l 8 3 I 30 Mosser Leat | 100 Nat Sec Inv 100 Nat-Stand 50 Prima (1 Pub 8 50 Pb Se pf X 20 Quaker Oats pf 5080 West GEE p!f Dred [ £100 par xd np Market Averages By the Associated Press. Copenhag 4%s'53. 5 Copenhag R Cuba 534845, Cuba R R 1st 55 Cuba Nor 5%s "42. Del&Hud ref 4s * Del & Hud 5%s'37. 3 Del P'w&Lt4%8'71 1 Denmark 4%s 6 Denmark 5 D&RG W 5s'78., Det Ed 4338 D '61.. Det Edison rf 5549 Det Edison fs '52. . | Det Edison 5s '55 Dodge Eros 63°40. . Duquesne 414 A ‘67 Dutch East [ 65'47. 3 Erie gen 4596 Srie ref 55 6 Erfe ref 5575 Finland 5%s " Finland 6 s Finland 7s 50 Fla Fram Ind 7%s'42. French Gov 7549, Gelsepk’hen 68 '34. Gen Baking 5%5'40 Gen Motors 6s'37.. Gen St Cas 5%s'49. | Gen Th Eq 6s'40... Ger Cent Bk 68'38. Ger Cen Bk 65’60 J Ger Cen Bk 6560 O 46 Ger Cen Bk 75 '60.. 5 Ger Gen Elec 6548 11 Ger Gen 45. 56 2ReNAND 9HOm0n NED German Rep 78'49. 64 Goodrich 6s "45. 4 Goodrich 618 "47 Goodyr Rub 58’57 GoodHopeS&I 7 Grand Trunk 6: Grand Trunk GrtNorgn7s'36.. 16 Hud & M adj 58'67. 2 Hud & M rf 58 '57 1 Humble O11 Hungary 7%s 41 111 Bell Tell 58°56.. 8 Il Centettr4s’s2. 3 Statistics Co.) O N NEW YO STOCK EXCHAN Received by Private Wire Direct to The Star Office. Close. 102 24 102 20 10812 "’ 19 10217 1024 102 10 104 25 21 10626 10 110 10 Low. Close. 14% 14% 27w 274 22y 224 10 1047% 104% 10945, 109 110% 1104 64 53 67 6614 Sales. High. Inland St 4%8B'S1 1 78 Int Rap Tr rt 65 ‘66129 Int Rap Tr 68'32.. 47 Int Rap Tr 7 e Int Cement 58 s Int Hydro El 6s'44. 2 Int Pap 65 '55. . 1 Int Tol&T 4348 °29, 12 IntTAT4%s'52., 13 IntT& T b8 '56...0 1 Italy 75 '51. Italy Pub 78 '5: Japanese 5% s Japanese 6148’5 Kan C F S&M 4536 Kan C P&L 4 %3 Kan City Sou 3850, Kan G&R 4348 ‘80 Kan City Ter 45'60 Karstadt 6s " Kresge Found 6536 Kreug & Toll5s'59. Lack Stl 58 A '50. .. Laclede Gas 55 ‘34, Laclede 538 C"53. Lautaro Nit 68 °54. Leh Ven 41582003, Lig & Myers 78 '44 Loew's 65 '41. Long Isirf 48 Lou G & El 5s A'52. L& Nunf4s'40. L& Nrt5%s 20 Lyons 68'34.. . McKes & R5%s'50. Manhat Ry cn 45’90 3 Midvale Stl 58 '36. Milan 6348 ‘52, 105% 7% 31% 944 88Y% Mo Pac gn 4s°'75 Mo Pac bs F '17. Mo Pac 58 G '78.... Mo Pac 5s H'80... Mo Pac 5s I1'81 Mo Pac5%s A ‘49 Montevideo 7s Mor&Co 18t 41 Nassau Elec 45 51, Nat Dairy 5% '48. Nat Steel 63 '56. N Eng T 1st 6852, N J Power 468 NOT&MGts" Nw S Wales bs "5 © DNRTE DD DD 20N DD 110 -1 O e 1O TN LD IO RS e i 1 1O S 50 BT 0 B 1 N N NYC&StL 434878, NYC&StL5 15 8A'T4, N Y Edison 6s B'44. N Y Edison 55 C'51. NYEArf6%s'41. Y H&P 4849 NY EL H&P 58’48, NY NH&H 4857 NY NH&H 6s'48. . NY O&W rf 48°92 N Y Steam 5566 N Y Telgn 4%s'39 NY W&B 4365 '46... Nia Sh Md 6148°50. o North Am Co 58 61 Nor Am Ed 58 A'57. Nor Am Ed 55 C'69. Nor Am E 515863, N GerlLiloyd 6s'47. Nor O T & L 65 47 Nor Pac gn 38 2047 Nor Pac 45"97..... Norway 6s Oreg-Wash 4 Orient Dev s 3 Owens 11 G1 5839 Pac G&E 5s'42 Pac T&T 1st & Paramount 6s Param-Pub § Penn sta 4s '4¢ Penn 4%s D '70. Penn §s '64 Pere M 1st 55°56 Peru 65 '60. Peru 6s'61 Phila Co 5567, Phila & Read 6349 Phillip Pet 5% 839 Pillsb F M 6543, .. Poland 65 '40 Poland 75 '47 Poland 85 ‘50 Porto Alegre 85'61 Port Gn El 4145’60 Por RAm T 65 Pos Tel & C5s°53.. 1 Press 8tl Car 5s'33 Prussia 63'52..... Prussia 614851, Pub Sv G 4%s" Public Serv 4s'71. . Pure Oil 5%s '40 Queensland 7s'41.. Read 4% A *97... Rem R 5% sA"4Tww Rhinelbe U 75 '46. . Rhine Ruhr 6s *53, Rhine West 6s " Rhine West 6s Rhine West 6 Rio de Jan 614853, RioDeJan ext 85'46 R Gr Do Sul 65 '68. Rio Gr W clt 45’49, RIAr& L 4%s'34. Rome 61%s StL IM R&G St L&SF 43 A StL&SF4% 4 StL SF 4135'78¢t st B'50... StP&KCSL 4 %541, St P Un Dep bs '72. 0 Paulo 8s '3 o Pau 78 '40. xon P W 633 Sinc O11 6%s B '38. Sinc O1l 7s A *37... Sinc P L 55’42 . Skeily Ofl 545 Smith(AO)6%s 33 Sou Bell T&T 58’41 Sou Pac col 4s'49.. Sou Pac rf 4s '55 o Sou P 43569 ww. Sou Pac 4%s'81... 1 Sou P&Or 4%sA’77 Sou Ry gn 4s A' Sou Ry gn 6 5! Swiss 534546, Tatwan E P 5% 871 Tenn EI P 65 A '47 Ter As St L 45 '53 Tex & Ark 5%s'50. Tex Corp cv 58 '44. Tex&P 1st 55 2000. Third Av adj 55 '60. Tob P NJ 6345 2022 Toho El Pw 75 '55.. Tokio 5%S "61..... 1 Toklo E1 Lt 6s'53. . Uaio; UE& Un Pac 1st 4547 Un Pac 4868 Un Pac rf 4s . Un P 1st rf 5s 2008. Unit Drug 58 '53 U S Rubber 53 °47.. UnSt W 6%s A'T. UnStW 618 A'51. Ud St W 6%s C'51 Uruguay 6s Utah P& L 55'44.. Util Pw 53’53 ww. Util Pow 5%s '47... Vanadium St 55’41, Vienna 6s'52 VaRy & Pw . Walworth 6s A *45. ‘Warn Br Plc 6s'39. Warn Quin 6s'39.. 45% 46 101%; 102% Warren Bros 6s'41. West Sh 1st 48 2361 West Ei 1b 5544, . West Md 1st 4s '52. 60 WestMd 5%5'77... 8 64 63% | try at 94, I‘by eight European nations, of which $| % | fresh 'IRESERVE BANK INCOME ‘gstn S&T 6s A’ 3 60 64 . Ygstn S&T 6sB'70. 6 l’ G, STAR, WASHINGTO [TALIAN CREDITS WELL MAINTAINED Dollar Bonds Command Good Prices—Other Loans Reviewed. Special Dispatch to The Star. NEW YORK, January 14—One of the credit surprises among European | borrowers in“dollars has been the gov- ernment of Italy. The same is true of the score of more of Itallan municipal, industrial and public utility applicants |for funds whose securities are now listed in the American market. Today nearly all of these Italian dollar loal are quoted at the highest for the past two years. A few of them are above their offering prices. The government of Italy 7s, for in- stance, are now quoted sbove par. This issue of $100,000,000 was brought out in December. 1925, at 941,. Earlier that year the Kingdom of Belgium had made | & loan of $50,000,000 with a 7 per cent | coupon at 98. Twelve months before that the French Republic had sold $100,000,000 of 7 per cents in this coun- ernment loan was authorized the Ger- man government had succeeded in ne- gotiating one of $110,000,000 at a 7 per | cent rate of interest and at an issue price of 92, while in June, 1923, the Austrian government had put out. here $25,000,000 of 7 per cent bonds at 90, gueranteed as to principal and interest | Two months before the Italian.gov- | Italy is one. Belgian Bonds. The Belgian 7 per cent bonds are selling at a premium over par of several points. The French 7s are quoted at a premium of 22 points. The German 7s are at a discount from par of about 20 | points and the Austrian 7s are quoted | 8t 4 points above the subscription price, | but _at a discount of 6 points. The Italian dollar loans introduced into the United States in the past seven years have numbered 25. Their out- standing amount today is approximately $300,000,000. The original government loan of $100,000,000 has been reduced to about $87,000,000 by retrenchments through an annual sinking fund. Those of the cities of Ro and Milan have been cut down about $2,000,000 each, or 10 per cent, through the same proc- ess. Smaller revisions downward have occurred in most of the other Italian loans. Two, which were identified with the Italian public utility industry, have recently been retired. Altogether, the record of the Italian government, cities and corporations for promptly meeting ther interest and | sinking fund requirements has been an admiirable one and the original investors | in these dollar loans have fared better than in some of the better recognized American credits. In the revaluation of European cur- rencies some years ago Italy established |the lira on a higher basis, relative to the old rate, than did France or Bel- glum in reforming their currency sys- tems. This was expected to prove a handicap to It2ly. It has been so to some extent, but in spite of it Italy's external credit has remained high and during the past year has been steadily improving. The ‘strength in her dollar bonds has not been due, 2s in the case | of those of France and Germany and in some of the Scandinavian countries, | to the repurchase of them by her na- ¢ tionals, although it is understood there has been a steady accumulation of these loans by Italians in the United States. The fact that Italy has had less | trouble with her national budget than some of the other Europezn countries has undoubtedly contribuied to the fa- vorable attitude of foreign investors to- | ward her external obligations. Discount Rate Reductions. Last May the discount rate in Italy was reduced from 6 per cent to 5 per cent. This week it has been further cut to 4 per cent. This brings it to a parity with the discount rates of cen- tral banks in Germany and Norway apd below those of Austria, Czechoslovakia, | Hungary, Poland and Spain. The latest report of the Bank of Italy indicated that its gold holdings steadily increased |during 1932 and were considerably larger than toward the end of 1931, On the other hand, the credits and balances | abroad of the bank have been decreas- ing sharply, as have those of the Bank of France, and are now zbout 40 per| igg; under those at the latter part of BUYING IS PREDICTED Annual Dry Goods Conventions and Opening of Spring Lines Are Scheduled. | = | Special Dispatch to The Star. NEW YORK, January 14—Whole- | sale buying next week should receive stimulus from the numerous wholesalers and retailers gathered here for the annual dry goods conventions | and the opening of various Spring lines, such as draperies, floor coverings, blan- kets and bedspreacs and boys’ clothing. Mild weather naturally slowed up de- mand for all types of heavyweight merchandise. This was not particu- larly pleasing to sellers of women's coats, though long fur coats, because &feulhe low prices, held up relatively Seasonal sickness created a better demand for drugs. The broader move- ment of chemicals was due, largely, to the textile industries, where rayon, silk and other lines have increased their takings of dyestuffs. Demand for shoes lessened somewhat. Furniture and hardware marked time Makers, of products that go into di- rect consumption, such as textiles, wearing apparel, shoes, foodstuffs, packaging, and industrial printing slightly increased their rate of opera- tions during the week, lifting the gen- eral productive level fractionally, but many plants continue on the part-time schedules inaugurated early last month. (Copyright, 1933.) INCREASES DURING YEAR By the Associated Press NEW YORK, January 14—The an- nual statement of the New York Fed- eral Reserve Bank for 1932 shows net income of $10,404,550 compared with $1,532,080 in 1931. Total earnings for the year were $15,948,942, against $7,- 555,213. After payment of dividends of $3,562,030 there was added fo surplus {rom current income $6,842,520. In the previous vear the bank reported a defi- cit of $2,359,518 after dividends. Total surplus amounted to $85,058,- ?S;lngamst $75,077,154 at the end of New Zealand Wheat Crop. WELLINGTON, New Zealand, Janu- ary 14 (P).—The wheat purchase board estimated the New Zealand wheat crop at 10,000,000 bushels, This would pro- vide an exportable surplus of near! 500,000 bushels. 2 Sales. West PacGs A'46.. 8 West Unecltris'ss 1 West Union §s’61., 8 ‘West Union s '60 2 West Un 6%4s'36.. 6 "53.. 34 58 . 4 103% 108 ‘41, 13 98% 93 WisCent Tm4s'36. 1 11 11 Yokohama 10 48 4T% Yi 59% 60 g 5314 e 1084 93 1n 48 60 60 D. C., SATURDAY, JANUARY 14, 1933 N. Y. CURB MARKET Received by Private Wire Direct to The Star Office. CURB SHARES SAG IN QUIET TRADING Most Losses Are Fractional, With Some Issues Showing Gains. BY JOHN A. CRONE. Special Dispateh to The Star, NEW YORK, January 14.— After opening lower, the Curb Exchange turned dull today with prices continu- ing downward. Electric Bond & Share was off frac- tionally, Standard Ofl of Indiana was steady, but Cities Service eased. Com- monwealth Edison at 80 opened off 25 points. Deere & Co. at 9% opened down 1, point. There was little in the character of the news that influenced market move- ments. Reports from the automobile sNow at the week end were more cheer- ful, though motor stocks were neglected. The gold stocks turned dull on light offerings. Aire securities inclined to heaviness, with Pan-American Alrways at 251, down 214 points. Montgomery Ward A opened a.shade | lower. Great Atlantic & Pacific Tea common and preferred yielded. ~Other food shares were qulet. United Found- ers came out in several sizeable blocks, attracting tape attention by its vols ume. Cables & Wireless B shares were outstanding in point of activity in the radio group. Public Service of Northern Illinois common on its first sale of the year was up about a point. American Cyan- amid B was the feature of chemicals. ‘The recent weakness in New England Telephone was explained by the earn- ing statement today showing a decline in gross of 74 per cent for the first 11_months of 1932, 'Todd Shipyards fractionally advanced. United States Playing Card was steady. In the electrical division Crocker- Wheeler was firm. ‘Three motors, Ford Motor of Canada A, Ford Motor Ltd.. and Stutz Motors, formed the bulk of trading in that classification. Steel Plant Schedules Higher. YOUNGSTOWN, Ohio, January 14 (®).—Youngstown district steel plant operations were estimated at 18 per cent of capacity in a survey, represent- ing the highest rate since November 1 and a slight gain during the current week. BONDS ON THE CURB DOMESTIC BONDS. High B1ig Sales in thousands. w. Close I 81 Bl% D1ie B1 6 Glia 60'a $is 9612 ) i Appaich Gs Us B 4 Appalch 55 S Arkans P & L 58 B0 2As50 G & E %5 48 13 Asso G&E 4135 40 C 8Asso G & E bs * 100 100 100, 100, * 106 i 2 Bosion n @ g8 40 100% 100% g 9 2644 s 101 35 08 t as 1Dx GG 6ias A 19 Elec P&L bs & R 13% Nola B9 K 1007 1007 1007 B23, 823 4 10012 100%3 100 10073 100 1 83 K3 74 T4 8 gun 0 71Y 2 Iowa-Nb L&P 4 Jers CP&L 41as 2 Kentuck U 55 H Koppers G&C s Koppr G&C 5las 111011101 D013 i1 106 106 9% 6912 4 T4 907 90% 4 90% 4 s y 653 45 '50 D 6134 613 Wa 41ss 70 10115 10134 s B '68 29 i 105% 1051 105% 2 10434 10434 10434 RO ROYs E 4 Wis P Ser A 6s 52 FOREIG! 16 Buen Air Pro 7s 13 Buen Air Pr 7 Stock and Sale— Dividend Rate. Add 00. High. Low. Close. Aluminum n(An}e)r250| 4915 484 Alum Co Am pf(3).100s 43% 43% AmCitiesP&LB.. 4 4% 4% AmCyanamid B... 18 Am EI 8o pt pf 40e. 1 Am Equities. ... Am & For Pw war. Am Founders. Am Gas & El (11)., Am Investment.... AmLt& Trac (2).. 3 Am Superpower... 16 Arkansas Nt GsA.. 2 As El Ind Ltd k10e. Asso Gas&RElec (A) 1 Ass0 Gas & Elec pf 108 Asso Tel Utilities.. 1 Atlas Utilities. Atlas Utll war. ... 1 Bellanca Afr vte. .. Burma rets (k4 46) Butler Bros...... f Cable & Wire B rets Canadian Marconi Cent States Cities Service. Cities Service p " | | Cities Sv P&L $7 pf100s | Comwith Eais (5).. 1 Comwlth & Sou wr. Comstock Tunnel. . CAMCoctfs. .. Cons Gas Balt 3.60. | Cons Min & Smelt. . 50 Cord Corp. .. ; Cresson Consol k2¢ | Crocker Wheeler. . | Cusi Mexicana Min Deere & Co De Forest Raaio. Detroit Afreraft. 4 19 50 3 Elsler Elec Corp. .. | E1 Bd & Sharo b6%. | E! B & Share pt 6. | ¥ | | Florida P & L pf(7) Ford Motor Can A.. Ford Motor Ltd. Graymur Corp (1), Great A&P n-v(17) |c & P Tea pf (7) 108 | Hudson Bay Min 2 | Int Petrol (1)... 3 | Int Safety Raz (B). Int Util B 2 | Interst Pw Del pr'7 Irving Air Ch (40¢) Italian Superpw A. Jersy Cnt P&L pf 7 Lake Shore M (2).. Lakey Fdy & Mch.. Lefcourt Realty pt. | Lone Star G béic. . Long Isl Lt pt (7). Merritt Chap & S.. Mesabi Iron....... Midl West Utllities Mont Ward (A)... Mountain Prod 80c. Nat Bellas Hess Nat Service...... Nat Union Radio. . 1207 3% 10% 1% 1 10 b% 1% i Newberry (JJ) (1), | Newmont Mining. . | Nlag Hud Pwr 1.20. | Niag Sha(Md)B 20¢ 1| Northern P L(50¢c). Novadel Agne (5). | Ohio Copper... Pac G&E 1st pf 1 Pan Am Afrway | Parke Davis (1)... . | Parker Rust (2)... Penroad Corp Ploneer Gold | Pittsbgh&LE(2%). 508 | Pub § N 1113 no parl00s Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., January 14— | White potatoes, per 100 pounds, 85a1.00 | barrel, 1.25a1.50; sweet potatoes, bushel, | 25a75; barrel, 50a1.00; beans, bushel, 1.5023.00; beets, per 100, 1.50a2.00; brus- 9 | sel sprouts, quart, 10a15; cabbage, basket, 25a30; carrots, per 100, 1.50a2.00; cauli- flower, crate, 1.75a2.00; celers, craf 1.50a2.25; cucumbers, hamper, 2.00a3. eggplants, crate, 1.50a2.75; lettuce, crate, % |3.00a3.50; onions, per 100 pounds, 7589 peas, bushel, 1.25a2.25; spinach, bushel, 2 | 60a1.10; peppers, bushel, 7585.00; squash, | bushel, 1.00a1.50; tomatoes, crate, 1.00a 3.50; turnips, hamper, 15a20; apples, | bushel, 25al.75; cranberries, box, 2.00a 2.65; strawberries, pint, 13a15; grape- fruit, box, 2.00a3.00; oranges, box, 2.00a | 3.50; tangerines, 1~ box, 1.00a1.50. Dairy Markets. Live poultry—Turkeys, hens, pound, 17; gobblers, 13; old hens, 15a16; old | toms, young chickens, 11al5; all | kinds, poor and thin, 8a9; old hens, | 10a15; Leghorns, 10all; old_roosters, 7a9; ducks, 9a13; geese, 10a13; guinea 9% | fowls, each, 15a30; pigeons, pair, 15a20: capons, 14al8. Eggs—Receipts, 446 cases; hennery whites, dozen, 29a31; nearby firsts, 28a 29; Western firsts, 28a29; Southern firsts, 27a28; current receipts, 27a28. Butter—Good to fancy, creamery, pound, 20a23%; ladles, 16al7; store packed, 12a13; process butter, 18a19. |TRADERS WATCH BOND {MARKET FOR TREND Gain in Senior Securities Has Gen- erally Been Followed by Stock Advance. Special Dispatch to The Star. NEW YORK, January 14.—It has % | been an axiom in Wall Street for sev- | eral years that stocks could not advance % | for any length of time unless the move- A 5 ment in them was supported by a cor- responding rise in bonds. The delay in inaugurating operations in stocks, when there has been a technical posjtion fa- vorable to this, has frequently been due to the unsympathetic attitude of the bond market. Since the first of this year bonds have exhibited a remarkable degree of strength. It is unfortunate that some of this could not have been shown in December, when it might have been ap- plied in makmf up the bank statements published as of December 31. It seems to be the misfortune of the banks to be compelled to set up their security re- ports when the markets are at their low levels. > ‘The January rise in bonds has covered all of the prominent issues in every im- portant domestic and foreign group. It began with the highest grade corpo- ration issues, which moved up simul- taneously with Unfted States Govern- ment bonds and with municipals, whose position improved immediately after the officials in New York City agreed to balance their budget. {(Copyright, 1933.) Columbia Permanent Building Association PAYS - 5% compounded semi-annually Under U. S. Gov't Supervision Organized Jan. 1, 1903 733 12th St. N.W. Stock and Bale— Dividend Rate. _Add 00. High. Low. Close. PubUtilHidwar.. 2 & & Pub Ut Hldxw.. 1 & & Puget 84 P&L pt 5. 608 2 Reliance IntA..... 2 2% Safety Car H& Lt.. 508 St Regis Paper. ... Salt Creek Prod (1) Seaboard Utilities. Selected Industries Shenandoah Corp. , SouCal Edpf A 1% Southwn G&F pf 7. 208 Stand Ofl Ind (1).. 27 Stand Oll Ky 1.20., 2 Stand Oil Ohio 1% . 50s Stutz Motor Car. [} Swift & Co. 2 Swift Internatl(2). 1 Swiss Amer El pt.. 508 Tampa Elec 2.24. ., Technicolor. ..., Tech Hughes (60c) Todd Shipyard (1). Trans Air Trans. .. Utd Dry Dock. . United Founder: United Gas. ., Utd Gas pf (3 %). Unit Lt&Pwr (A) U S Elec Pwr ww US& Intl Sec., , US&Intl 1st pf. U8 Play Card (1) UtIP&Lt. Uil P& L B Wayne Pump pf. West Cart pf (8).., Wilson Jqnes. Wool Ltd k2 Wright Harg “Y”Oll & Gas (A)., 9 Divide dend. 1Partly extra. 1Pius 4% b nPayable in cash or stock. b stock. e Adjusiment diviaend. n stock. g Plus 6% in stock. JPlus 3% in stoc mPlus 3% in stock. n Plus 8% P Pald last year—no regular rate. o O D 1 et 0 0 s s in sto WITH SAFETY IN GUARANTY 6% FIRST MORTGAGES It you have money for investment, choose these safe, high-yielding Pir tzage Bonds, secured by direct First Mortgage on incom producing properties in the Nation’s Capital in w as $1 If “Destred enominations onthly Payment REAL ESTATE MORTGAGE AND GUARANTY "CORE™ 1610 K Street Nat. 1403 ANNUAL REFORT The Lawyers’ Title Insurance Company January 12th, 1933, The g:der!lmed president and majority of the ard of directors of The Lawyers Title Insurance Company do hereby certify that the capital stock of said company is one hundred and HH‘Y thousand doll; ($150,000.00), and is fully paid, and that there are no debts of said company excep: current expenses and secured obligation of $45.000.00" jaintly with The District Title Insurance Company and The Washington Title Iasurance Company. ce. ancls B, Smith, Charles H. Buck. Tence 7. Donohoe. J. N. Saunders. Chas. H. Kindle. Charles W. Stetson. HARRY M. PACKARD, secretary of The Lawyers' Title Insurance Company, do swear that the facts in the above certificate are €. trug HARRY M. PACKARD, Becretary. Subscribed and sworn to before me this 13th day of January, A.D. 193 . ROY HILL Notary Public, D. C. 4 | Company. Insurance Company & majority January 12, 19 The undersigned president of the board of directors of The District Title Insurance Company do hereby certify that the capital stock of said company is one bundred and fifty thousand dollars (8150.000) and 1s fully paid. and that lhfl! Are o dedta of sald company except curren expenses and secured obligations of $45.000 jointly with The Washington Title Insure ante Compeny and The Lewyers Title Ine surance Company. ARTHUR G. BISHOP, President. W. M. Beall Bdward C. Baltz, Alfred H. Lawson, T. Howard Duckett, Jacob 8. Gruver, it J_ P. Stary, 3 Charles H. Buck, R E_Buckley. I, HAI M. PACKARD. gectetary of The Disirict Title Insurance Company. do swea that the facts stated in the above certifie cate are 3: a true. HARRY M. PACKARD. Secretary. Subscribed and sworn to before me this 13th day of January, A.D. (Seal E LOY HILL, o Notary Public, D. C. ANN:UA ?fl’m"' or =z The Washington Title Insurance Company January 12 3. The undersigned president_and s majority e ‘Company d | tnat ihe capital stock of satd | one” hundred thousand dollars and is fully paid up. and debt. pe: and jointly with The District Title Company and The Lawyers Title Insurance ARTHUR G. BISHOP. President. A. W. Howard. en. Buck. | George H. O'Connor, Clarence ¥_Norment. 1. HARRY M_PACKARD, Secretary of The Washington Title Insurance Company, do swear that the facts stated in the above certificate are true HARRY M. PACKARD, Secretary, Subscribed and sworn to befors me 1 13th dav of January, AD, 1933 (Beal.) E. ROY Fzly Notary Publis. NNU. e Union Trust Company Of the District_of Columbia, to the Comp= trolier of the Currency, as required by sece tion 10, act of Coneress approved October 1, 1%90, for the year ended December 31, 1932, Capital stock authorized.. . ...$2,000,000.00 Capital stock actually paid in. " 2,000.000.00 Gross earnings for year ended December 31, 1032........ 740.370.39 Total expens ended ember 19: g 634 8 Total amount of debts. bein amount due depositors $0.234.406.18 ) ON, President. E. Hamilton, jr.. Charles P. Wilson, ores E Fleming, John G, Hovt. all, hue, jr.. Johs e E.g. comet. JH or Luther F. Spel % w fma: E Geori We. RESTON, ZIRPEL, Becretary, and ILTON." W. 8. HARBAN. WILSON, D. HANNA and GEORGE E. tors of ‘the Union Tr . do solemnly swear that the above statement L lrue to the best of our knowledge ef. ORD PRESTON, President. IRVING ZIRPEL. Secretary. GEORGE E. HAMILTON, CHARLES F. WILSON. W. 8. HARBAN. D I KAUPMAN, épgflan"}“'ru:fi'a District o{ Columbia. ss > s worn ' to J. DUTTON WAINWRIGHT. Notary Pubite. Total number of directors of this come pany, iwenty. ENTITLED TO CONFIDENCE There is no investment which you can make of surplus funds which is accompanied by more substantial protection than that offered by our 6% FIRST MORTGAGES The improved properties which represent the security are carefully Over a Third of a Century ment. Without a Loss to.an loan. Investor. from $250 selected after conservative appraise- This gives you the desired element of safety; while the 6% in- terest which they earn represents truly liberal return—and will not change throughout the life of the May be purchased in amounts up. B. F. SAUL CUk National 2100 925 15th St. N.\W. ’ " CAPITAL & SURPLUS, $3,500,000.00 - Will You Be Prepared for Opportunities —when they come to you? . . . And they will come to you, sooner or later, if you are patient and practice the ways of Thrift. This_sixty-six-year-old bank is helping an ever-| family, of over 56,000 degos safe-guarding their casl nimraey and affording frien sired. itors, financially onward . . . by ‘fiayxng them interest on their y, financial counsel, when de- e THIS PAY-DAY is the right time to start, Thriftward. DEPOSIT BOXES AT MODERATE RENTALS We Serve Open Until 5:30 P.M. Monday, Jan. 16th for Pay-Day Depositors’ Convenience in 2ll Fiduciary Capacities Interest Paid on Checking and Savings Accounts DIRECTORS: ER 3, ROZIER DULAN: % 58 Y Wi IAM D. HOO' WALTER BRUCE HOWE BEGIX S. HUIDEKOPER FRANK STETSON WILLIAM B- Wi HARLEY P. WILSON National Savings & TrustCo. Oldest Savings Institution in the District of Columbia Cor. 15th and New York Ave.