Evening Star Newspaper, January 25, 1933, Page 12

FINANCIAL, THE EVENING STAR, WASHINGTON, D. C., WEDNESDAY, JANUARY 25, 1933 FINANCIAL INSURANCEPARLEY || TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE |/SIOCKSINRALLY let. Bal Net. anc Bales— High. Dividend Rate. Add 00. High. Low. Close, Chee. Add 00 High. Low. Close. Chge. | High. Lo Dividend Rate. Add 00. High. Low. Close. Chge. . Low. Dividend Ra . Low. Close. Chge. % 44 Adams Express..... o Av A% 192 1% 1% 1% + %] 8% 6% StmmonsCo.. T 6% T+ % 204 U 8 Indus Alcohol... " &' 24 23% 24% + % 15% :::;::xyxuz). 13 P m + %), Th lg:: goclgnry‘;’cu.um 40c.. lgl'/. 3% US Leather. .. 3% 3% + % Banking Ci 3 A% 4% o Port Ric Sug 1.60. ) % U S Leather (A) 6% { ::M:‘ll;ed ll;;:dd) 0., 1(‘)5 4n 16 + % l;gvs 112 So Port Ric 8 pf(8) 118% lg U S Leahter pr pf(7). 4“ an ing ||'G|eS Become MOI‘Q r Reduc 1 26 U 8 Pipe&Fdry (50c) 8 g 5 1% Optimistic Over War Debt Situation, 3% Gobel (Adolf). 14 Gold Dust (1.20) 103 100 Gold Dust pf (6).. 6 4% Goodrich (BF) 1313 Goodrich (B F) pf. 14 Goodyear Tire&Rub., 36 Goodyear 1st pf (7)., lf Gotham Silk Hosiery % Graham-Paige.... 19 Grant (WT) (1).. 7% Great Northern pf... 67% Great West Sug..... 72% Great Wn Sug pf (7). ‘Many Expected to Attend| " Annual Meeting in -District. = Allephany Corp. 4 Alleg Corp pf $30ww Aliled Chem & D (8. 4 Allied Chem pf (7)..1 1 8% U S Realty & Imp. 4% U S Rubber......... 13% U S Smtg & Ref (1).. 39% U S Smtg&Ref pf 3% 26% U S Steel..... . Alaska Juneau(60c). % 7 13% U S Pipe 1st (1.20).... % 7 1% Sparks-Withington 1% 5 Spicer Mfg. 5 14% Standard Brands (1). 121% Stand Brands pf (7).. 59 USSteel pf (7).....: 12% Stand Gas&El (1.20). 59 U S Tobacco (4.40)... 20% Stand Gas&El pf (4). 1% 1 United Stores (A)... 40 Stand Gas&EIl pf (6 4% 3% Util Pwr & Lt (A) 237% Stand Oll Calif (2).. e g T e sl & 1 & v 2 ¢ yPersss BY GEORGE T. HUGHES. Speclal Dispatch to The Star, NEW YORK, January 25—Stocks closed strong today, after a session in LYY T - TS N EE R © +HH LA+t ++ FREFTEES 2 By EDWARD C. STONE. Local insurance men Were most en- thusiastic today over the prospects of Am Ag Chem (Del).. Am Bank Note...... Am Brake Sh&F (60c’ & 1Y & very large attendance at the fiftecnth annual sales congress of the District of Columbia and d Life scciations, t> be held at the Shorc- ‘hem Hotel hire to- MOrrow Deleza- tions are to be present from Bal- timore, Richmond, Roanoke, Cumbe! land and Hagers- town. John P. Lynch, president of the lo- <al association, will call the conference to order and wel- come the delegates. Thomas P. MOI- Thomas P. Morsan.r. gan, jr. chairman 3 of the General Committee, will pre- ride at the forenoon business session and P. H. Lowrie, head of the Balti- more underwriters, will preside in the afternoon. Luncheon will be served betwe:n the two sessions. The busi- ness meeiing will be opened with an invocation by Rev. Edward H. Roach, of St. Matthew's Church. Between some of the serious busi- ness addresses, an entertainment has been arranged and a playlet “Life's Like That” will be presented. As al- ready noted, the addresses are to be given by leading men in the insurance field, officials of some of the biggest companies. Five-minutes talks by agents in this territory will add to the pro- am. Officers of the District of Columbia Life Underwriters Association, which is the host of the occasion, are: John P. Lynch, president; John L. McElfresh, first vice president; Horace Winter, sec- ond vice president; George T. Black, secretary: George B. Farquhar, treas- urer; Howard J. Fackson, editor of the Bulletin; J. E. McCombs, chairman Membership Committee, and Philip L. Bald chairman Program Com- mittee. Further Auditing Steps Urged. The new requircment of the New York Stock Exchange that all corpora- tions desiring to list their securities on the “big board” must present financial statements certified by independent auditors, is called a step in the right direction by Boris Baievsky, chairman of the committee on co-operation with investors, of the District of Coiumbia Institute of Certified Public Account- ants. But it not go to its logical end, Mr. Bai believes, and might become a pitfali to unwary investors. “An investor looking up the financial statements of a corporation in which he intends to invest,” says the committee chairman, “and seeing the report certi- fied by an outsider., may conclude that everything is in order. He may be mis- led. as a corporation unwilling to dis- close the trus nature of its affairs, may prepare its financial statement in a way to suit itself and have it certified by any one who chooses to call himself an accountant “In order te serve its purpose in pro- tecting the investing public, such a certificate should be issued only by qualified persons. The auditor should be 4 “vertified public accountant. The invéstor then knows the statements have been certified by a person techni- cally trained in education and the strict ethics of his profession aind of wide ex- perience. In this way the public will get the full benefit of the protection called for in the new Exchange ruling,” the chairman asserts. Pennsy Woman Stockholders Gain. Pennsylvania Railroad stockholders | continued to grow during 1932, and on January 1, 1933, numbered 250,506, as | compared with 245509 on January 1, 1932, increase of 4,997. The January 1 total compared with 250,478 on Decem- ber 1, 1952, an increase of 28. Although stockholders on January 1, 1933, showed a substantial gain over the year beiore, the peak number in hold- ers was reached on September 1, 1932, at 252,142. On October 1 the total was 251,041, and on November 1 it was 250,592. December 1 showed the third successive decline from the peak, with a slight upturn again at the close of the year. Average holdings on January 1, 1933, stood at 52.56 shares, as compared with 53.61 shares on January 1, 1932, de- crease 1.05. Average holdings on Sep- tember 1, when stockholders were at their peak, was 52.22 shares. ‘Woman stockholders numbered 108,- 201, increase of 1,387, constituting 43.19 per cent of total holders. They held 4.249,562 chares, decrease 87,932, being 33.27 per cent of the outstanding capi- tal stock. Their average holdings was | 39 shares, decrease 2. Fidelity Plan Officers Elected. At the annual meeting of the stock- holders of the Fidelity Plan Corporation held at 1409 L street, these officers were elected for 1933: George B. Fur- man, sr., president; H. W. Arbaugh, vice 'president and general manager: Clarence E. Frey, secretary, and P. R. Rogers, treasurer. Directors were re- elected, as follows: G. B. Furman, sr.; William P. Magruder, T. F. Shanahan, G. N. Bowen, C. E. Frey, F. H. Karn, P. R. Rogers, D. H. McLeod, William T. Jennings, N. G. Dudrow, H. W. Ar- bauch and E. E. Perkins. The annual reports showed a satisfactory year. Re-election of all trustees of .the Mutual Investment Fire Insurance Co. of the District of Columbia was an- nounced yesterday following the stock- holders’ annual _meeting. They are Horace L. Beall, Frankin P. Nash, H. H. Carter, M. Frank Ruppert, Vincent L. ;r’oomry, Harry Kaufman, Vernon G. wen. N. & W. Declares Dividend. Directors of the Norfolk & Western Railroad declared the regular quarterly dividend of $2 a share on the common stock yesterday, payable March 18 to stock of record February 28. Prelim- inary figures on Norfolk & Western earnings for the .year ended December 31, 1932, after providing for the usual $4 dividend on the adjustment pre- ferred stock, were equivalent to $11.29 a share on the common stock, compar- ing with $14.39 in the preceding year. Bonds Favored on Exchange. The Washington Stock Market opened today with two $1,000 and one $3,000 sales in Anacostia & Potomac Rail- road 5s at 44. Later another $1,000 sale was recorded at 45. Anacostia & Potomac Railroad Guaranteed 5s also appeared on the board, $1,000 chang- ing hands at 9014. Washington Gas 6s, series B, figured 4n small sales at 103% and the A bonds came out at 100%. Potomac Electric Power 6s recorded a $500 sale at 108%. ‘Wholesale Prices Lower. ‘Wholesale commodity prices were de- cidedly lower during the latest week, according to the index of the National Fertilizer Association. This index of 476 commodity quotations declined 10 points for the week ended January 21. ‘This was the largest drop in many weeks. The index declined 3 points during the preceding week and two ‘weeks ago there was an advance of 1 point. Four Thousand Return to Work. ‘HAZELTON, Pa., January 25 (®).— Four thousand men went back to work at the Jeddo-Hightand Coal Co. mines following settlement of a strike, which w*dec ed a week ago. Am Can (4). . Am Car&Fous pi Am Chicle (13)...... 2 Am Comc'l Alcohol. . Am European Secur. Am & Foreign Pwr. . £.m & For Pwr pf (7). Am & For Pwr 2d pf. Am Hide & Leather. , Am Home Prod .20 Am IceCo.... Am International 4 Am Metal pf Am News (1%). 4« Am Power & Light. Am Pwr& Lt pt (3) Am Radiator. .. Am Rolling Mills. %« Am Safety Razor (3). Am Sm & Ref. ... Am Sm & Ref 6% pf. Am Sm & Ref 7% pf. 3 Am Snuff (13%).. Am Steel Foundry. Am Stores (12%). 2 Am Sugar (2).. Am Sumatra Tob. Am Tel & Tel (9). Am Tobacco (16). Am Tobacco B (18 Am Tobacco pf (6).. Am Type Founders. . Am Water Works(1). Am Wat Wks etfs(1) Am Woolen pf...... Anaconda Copper. Anchor Cap (80c). Armour of 111 (A) Armour of Il (B)...n Armour of Ill pf. 4 Assc Dry Goods 14% Associated O1l ( 39 Atchison.. 17% Atlantic Coast Line.. 515 Atl Gulf&W Ind pf. . 16% Atlantic Reflning(1). 9% Atlas Powder....... 61 Atlas Powder pf (6). 56'; 45 Auburn Auto (d4) 7% 615 Avation Corp (Del) 64 Baldwin Locomot. Baltimore & Ohio. Baltimore & Ohio pf. Bangor & Arostk(2).. Barnsdall Corp. ® 9 714 Beatrice Crm pf (1).. Belding-Hemingway. Bendix Aviation Bethlehem Steel pf. . Blaw KnoxX......... Bloomingdale pf (7). Bonn Alumn & Brass Borden Co (2)..eeass 8% Borg Warner. 4'¢ Briges Mfg Ce 25'3 Bkyn Manhat T 3% Budd (E G) Mfg pf. 1% Budd Wheel........ 7% Burroughs AM(40¢). 20 Bush Terminal pf(7) 74 Butte Copper & Zine. 123, Bvers (A M) 8% California Packing.. iy Callahan Zinc & Ld. . 21 Calumet & Hecla. ... 3 Campbell-Wyant Fy. 8% Canada Dry G A(1).. 12! Canaiian Pacific.... 14 Cannon Mills (1).... 39% Case (J 1) Co. 50% Case (J I) Co p: €74 Caterpillar Trac 50c. 14 Cent Azuirre (1%). Cerro de Pasco. 17% Checker Cab Mfg. 26Y% Ches & Ohlo (2%) 1475 Chesapeake Corp (2) 7% Chi & Eastern Ill pf.. 7 Chi Great Westn pf. 1% Chi Mil StP & Pac 2'3 Chi Mil StP & Pac pf. 3% Chi & Northwestern. 5% Chi & Northwest pf.. 3% Chi Rock 1 & Pac.... ChiRI1&Pac6% pf. Chi R1& Pac 7% of.. Chi St Paul M & O pf. % Chiids Company..... Chrysler Corp (1)... City Ice & Fuel (2).. City Ice&Fuel pf 6% . 2 Coca-Cola Co (7).... Coca Cola (A) (3)... Colgate-Palm-P (1) Colg-Palm-P pf (6). Collins & Atkman. Colo Fuel & Iron.... Colo & South 1st pf.. Columbia Gas (bl).. Columbia Pic ctf: Columb Carbon (2).. Commercial Credit. .. Comcl Inv Trust (2). Comcl Iny cv pf(e6). Comel Sclv (60¢).... Comwlth & Southn. . Comwlth & Sou pf(6) Congol-Nairn (60e). Consol Cgr pr pf 6% . % Consol Film........ Consol Film pf Consol GasN Y . 7% Consol Gas NY pf(5 Consol Laund 50c. ... % Cnnsol Oil Corp. 4 Consol Textile Cont] Baking (A). Contl Baking (B). 3814 Contl Can (2). Contl Insur (1.20) Cont Motors. Contl Ol (De! Corn Products Coty, Inc. eresene Creum of Wht(12%). Crown Cork & Seal. . Crown C&S pf (2.170). 14 Crucible Steel pf. ... Cudahy Packing 2% . % Curtis Publishing. .. Curtis Publish pf(7) 2 Curtiss-Wright. 2% Curtiss-Wright 4% Cutler Hammer..... 3% Davega Stores (60c). S BT e NN o 1 2% Debenhams Security 100s 491 Delaware & Hudson. 2 20% Del Lack & Westn... 18% Diamond Match (1).. 12% Dome Mines (1.30), 10% Doug Aircraft (75¢).. 34% Drug Corp (4).....0. 41% 365 Dupontde Nem (2).. 106 103 Dupout deN ab pf(6) 61% 54 Eastman Kodak«43).. 20% 18 Elec Auto-L (1.20).. 88 86% Elec Auto Lite pf(7). 1% 1% Elec & Musical Instr. T% 5% Elec Pwr & Lt.. 18% 15 Elec Pwr&Lt (2) 20% 15% Elec Pwr&Lt pf 2.33. 25% 23% Elec Storage Bat (2). 11 10 Equi Office Bldg 1%. 5% 4% Erie RR2d nf. . 49 42 Fed Lt & Trac pf (6). 1 7 Federal Screw Wks. . 313 2% Fed Water Service A 18% 157% Fidelity-Phoen 1.20, 14% 12% Firestone T& R (1 56 B1% First Nat Strs (214) 104 8 Foster-Wheeler..... 20% 18% Fourth Nat Inv 1.1 2% 1% Fox Film (A)....... 16 12 Franklin Smn pf(7). 26% 23 Freeport-Texas (2). 7 6% Gamewell Co... 4 3 Gen Am Investor: 19% 16% Gen Am Tank Car( 11% Gen Elec spec (60¢).. 23% Gen Foods (2). 1 GenGas & Blec T4 Gen G&E cv pfA gé.. 10% Gen G&ELDt A (87). 382 Gen Mills (3). 12% Gen Motors (1). 7214 Gen Motors pf (5) 35 Gen Prtg Ink pf (6). 2% Gen Public Service. . 13% Gen Ry Signal (1)... % Gen Realty & Util... 512 Gen Realty & Util pf. 4% Gen Refractori . 17% Gillette Saf Ras (1).. 71% Gillette Saf R pf (5). [P TISIOTIRES - 19T Orepry + = & ++1 01+ +14+ I+ 1 e+t oA L 4 1+ 4+ 1 + k2 FH+ b+ FEREIEE f++0001010 - FE FE & | - F ++ 1 ++++++ SR FREARESS + * 10414 1 % T4+ 411 FEEFS FEF o ® FEF P o RS Ul & S FreFe #srrprrx 2 +++++ 1 Grigsby Grunow 9% Gulf States Steel 1! Hahn Dept Stores. .. 691 Helme (GW) (17)... 5% Hercules Motor-. .... 16 Hercules Powder 1% 53 lershey Choc (5). x 78 Hershey Choc pf(t5) 313 Holland Furnace. ... 145 Homestake Min (9). 2 Houdailie-Hersh ¢B) 50 Househd Fin pf 4.20.. 13% Houston Oil......... 2% Houston Oil (new) 515 Howe Sound (40¢)... 4% Hudson Motor Car. .. 2% Hupp Motors....... 11% Ijlinois Central 1% Indian Refining. . . . .. 2814 Industrial Rayon (2) 23% Ingersoll-Rand (2).. 2'%4 Inspiration Copper. . 8'3 Insuransh Del(15¢). 4% Interboro Rap Trans. 14 Intercontl Rubber. 89 Int Bus Mach (6). 274 Int Carriers Ltd 20c. 20% Int Harvester (1.20). T’ Int Nickel of Can 213 Int Paper pf. 21, Int Paper & Pwr pf.. 4' Int Printing Ink..... 6 Int RysCent Am pf. 24% Irt Shoe (2). 11% Irt Silver 34 IntSilver p! ). . 6% Int Tele & Teleg..... 13 _Island Creck Coal(2) 19% Johns-Manville. 45 Jones & Laug pf( 106! K C P&Lt 1st pf B(6) 13 Kan City Sou pf(2).. 4% Kelvinator Corp. 8% Kennecott Copper. 8 Kimberly-Clark..... 8% Kresze (SS) Co (1).. 27 Kress (S H) (f1) 's Kreuger & Toll ozer Lambert Co (4). Lee Rubber & Tire Lehigh Valley Coal.. Lehigh Valley Lehman Corp ( Lehn & Fink (2) Libbey Owens Glass. Liggett & Myers(15) Ligg & Myers B (15). Loew's, Inc (3). LoftIne.... . Loose-Wiles Bis (2). Lorillard (P) (1.20). Lorillard (P) of (7). 21% Louisville & Nash ... ndrew Forbs(1). Me ¥ P Mt ) McKeesport TP (4). McLellan Stores. ... McLellan Stores pf.. fack Trucks (1).... acy (RH) & Co (2) Magma Copper (50¢) Mallison & Co pf 4 Mandell Rrothers. Manhat Elev mod gtd Midld (80c). . ) Street Ry pf. Marshall Field & Co. Mathieson Alk (113). Mathieson Alk pt(1). May Dept Stores (1)© Met-Gold Pic pf 1.89. Miami Copper. .. Mid Continent Pet: 5% Mo Kan & Texas . 11'4 Mo Kan & Texas pf.. 2% Missouri Pacific..... 4% Missouri Pacific 27% 12% Montgomery Ward. . 1212 Motor Products. .. Myer (F E) & Bro(1) 15% 13% Nash Motors (1) Nat Acme Co. .. Nat Biscult (2:89). 4 Nat Biscuit pf (7 Nat Cash Reg (A)... 4 Nat Dairy Prod (2). Nat Distillers. .. Nat Lead pf A (7). Nat Pwr & Lt (1). Nat Steel (50c) 4 Nat Supply Co. N Y Central NY Chicago L.. NYChi&StLpf.... N Y Investors....... N Y N H & Hartford. NY NH& Hart pf... N Y Ont & Western. . N Y Steam pf (6) % Noranda Min (al.1 Norfolk & West (8).. 4 North Am Aviation. . Nor Amer (b10 % stk) North Amer pf (3)... Northern Pacific. Norwalk Tire & Rub. 6% Ohio Oil (a50c) 174 Omnibus Corp. 51 Orpheum Circuit p: 10% Otis Elevator (1) 3 OtisSteel.... 7 Otis Steel pr p! 3315 Owens I1] Glas 13 Pacific Coast. 287 Pacific Gas & El (2).. 387% Pacific Lighting (3). 24 Packard Motor Car. Paramount Publix. Park Utah..... Parhe Exchange. ... Pathe Exchange (A). 29 Penick & Ford (1)... 2415 Penney (J C) (1.80). 90 Penny (J C) of (6) 74 Penn Dixie Cement. . 13% Penna RR (500)..... 13 Peop Drug Strs ( 67% Peoples Gas Chi (5). 5t Pere Marquette of... € Pere Marquette pr pt 4% Petrol Corp of Am... 43 Phelps Dodge. ... 3% Phila& Read C&1I... 4% Phillips Petroleum % Pierce Oil.. 19 Pitts Coal pf. 84 Plymouth Oll (1).... Port Ric Am Tob(B). Postal Tel&Cable pf. 4 Prairie Pipe Line. ... Presced Steel Car. ... 23 Proctor & Gam(1%). 01 Proc & Gamb pf (5). 1% Producers & Refin. .. 52 Public Sve N (3.20). 8415 Punlic Sve NJ pf (5). 97% Public Sve NJ pf (6). 181% Pullman Corp (3). 3% Pure Of1 57 PureOilpf (8)...... 7__Purity Bakeries (1).. 4% Radio Corp. .... 15 Radio Corp pf (A)... 8Y% Radio Corp pf B..... 1% Radic-Keith-Orph... 24% Reading Rwy (1).... 6% Real Silk Hoslery. 25 Real Silk Hoslery pf. 3% Remington-Rand. 1% Reo Motor Car 5% Republic Steel... 11 Republic Steel nf.... 26% Reynolds Tob B (3).. 4 Rossia Insof Amer.. 19% Roval Dutch. St L-San Francisco. . 1% St L-San Fran pf. 1 Schulte Retail Stores 6% Schulte Ret Stor pf. 28 Scott Paper (1.40)... 16% Seaboard O1l Del 40e. 18% Sears Roebuck. . 34 Second NatInvpf... 15% Shell Transport & Tr 4% Shell Union Ofl...... . 83 38% Shell Union Ofl pf.ew ... - AR EARD aAME R AGADNHBG O AR M _a S + Y = a2l 104% +1% —-4% _— T + 5 +1% o + % iy +1 —% +EHt e ) 99% Stand O1l Exp pf (5). 15 Stand Oil Kansas 29% Stand OII N J (12). 3% Stewart Warner. T4 Stone & Webster. ... 4 Studebaker Corp. 5 29 Studebaker pf (7) 8% Telautograph (1) 1% Tennessee Corp. . 12% Texas Corp (1)...... 22 Tex Gult Sulph (2) 4% Tex Paclfic Land Tr 5% Thatcher Mfg Co.... 14% Third Nat Inv (90c).. 3% Tido Water Asso Ofl. 41% Tide Water As pf (§) 14% Timken Roller Bg(1) 5 Transamerica Corp. . 3% Tri-Contl Corp... 12 Und-Eil-Fisher(50c). 5'5 Union Bag & Paper. . 2% Un Carbide & C(1.20) 69% Union Pacific (6).... 638 Union Pacific pf (4). 25% Unit Afreraft. . 15% Unit Biscuit (2). 12'3 Unit Carbon. ....... % Unit Cigar Stores. .. 7 Unit Corp (40c) Unit Corp pe (3). Unit Fruit (2). Unit Gas&Im (1.20). Unit Gas&Im pf (5).. Unit Pice D W pf 614 50 U S & Forn Sec pf... 22% U S Gypsum (1.60) U S Gypsum pf (7) 3 U S Hoffman. ... Y 15% 15% Vadsco S +Hh+4+ EFFEEF 1% % Ward Bal 1% Warn Br 1 Webster 38 West Pa 98 West Pa 5 Western 1% Western Western 4 Western Westing’ £ 39 36'3 Wrigley v 10:30 AM.eeen. 130 P.M Dividend rates | payments based on © Payable in serip. % Vadsco Sales Corp 14% 11% Vanadium Corp. 86% 77 Va Elec&Pw pf (6).. 30s 2 1 Wabash pf (B). Westinghouse Elec ‘Westvaeo Chlorin White Sewing Mach % Wilcox Oil & Ga: # Willys-Overland Wilson & Co. . Wilson & Co (A) Wilson & Co pf. 1 2 31% Woolworth (2.40)... 8350s 4% 3 Yellow Truck....... 1 51 5! Young Spring&W (1) 1 6 13% 9% Youngstown Sh&Tu./ 2 | 5 4 ZoniteProduets..... 9 4 - Saies of Stocks on New York Exchange. | $Unlt of trading less than 100 shares tPartly extr Piis 1" in special preferted stack. ¥ Bhis 4% I ] in s al preferr 3 % year—no Tesular rate. B Flis 5% in stosk ales pf. PROPRIOIPIN JOF PP RO + 4t - king (B). os Pictures. Elsenlohr. . 1 Elec A (7).. 1208 Pwrpf (6)., 50s Maryland... 1 Pacific..... Pacific pt Union... 'se Air B(1). PR (Wm) (3).. 6 38% 3% 3y | 11 | 90,000 g 330,000 440,000 220,000 | iven in the above table are the annual cash | st quarterly or half-vearly deehulxlom lar_ rate. of ‘stock. 1 Elus 8% PRODUGE MARKETS REMAIN IRREGUI.AR!uaduy taken and price declines were | SPecial Dispatch to The Star. Uptrend of Cotton and Hogs Proves Feature of Dull Trading. The recent slightly upward price trend of cotton and hogs partly off- set the weaker tendency of grain and | cattle, since the middle of the month, and the sharp somewhat seasonal de- clines for dairy products and eggs. says the United States Department of Agri- ics, Market News Service. Prices of hay and millfeeds show little change. Poultry markets have shown strcnger | action this month owing to lighter sup- plies. Milder weather has tended to | Were unsettled, though generally tend- t lessen consuming demand and to in- crease supplies of several important < | lines of produce, especially affecting the « {markets on eggs, butter, meats and vege- | 3,|tables. Most of the January price +41 1010 1+1+1 1++ ++ +4+ ++++14+1 o FREey EFE EFE EF ¥ 83 & 4441 M FE P B & st & changes in the fruit and vegetable mar- | kets have been downward. Potato prices | recovered slightly in the Central Wesli after the middle of January. Butter Marjets Weak. The wholesale butter markets contin- | ued nervous and unsettled after the] middle of January and prices declined | sharply, losing 2 cents on some lead- | ing grades in New York. Dealers lacked | confidence and operated cautiously. Stocks of butter in storage increased in some markets, due to some rather heavy storing, principally in the East. Trading in storage butter was slow at | Pr most markets, as many of the larger users were taking only fresh stock. But- ter production, as indicated by the re- ports from receivers at the various mar- | kets and the larger manufacturing groups, is increasing slowly in most sec- tions. A Prices in the leading cheese markets declined % to 11 cents on fresh cheese during the third week of the month, these reductions being in line with lower country replacement costs. Cured and held cheese held full steady, a the usual quantity was moved into eon- sumption. Production continues to ex- | ceed that of a year ago. Egg Trade Cautious. Dealers in eggs, for the most part, are buying slowly. The season is too early for storing. Production prospects are uncertain and receivers are being forced to cut prices in order to effect any sort of clearance. Sharp reduc- tions are being made in retail prices, which up to now, have not been in- clined to follow closely the gradual de- clines in wholesale quotations that have been umder way since the price peak was reached late in-November. Decline | amounted to 10 to 15 cents a dozen the | first three weeks of this month. Fresh killed chickens are in very light supply, and the beter packs are being cleaned up closely, immediately upon arrival, with premiums of 1 to 2 cents on special marks. Buyers seem slow to take storage stock, aithough with the season of fresh killed supplies practi- cally over, consumers will have to turn more to storage supplies. Hogs Sell Higher. A more stable hog market, with prices breaking through to establish a top figure at Chicago equal to the best price paid since December 1, continuation of the recently seriously depressed market for heavy fat steers and a recession in fat lamb valtes which reflected a de- clining dressed market, were the out- standing féatures of the live stock trade during the third week of January. Marketings were moderate for the sea- son of the year with unloads showing decreases in all classes of live stock. A firmer tendency was shown on the Boston market. for fine wools after the middle of January, while medium wools ruled slightly lower. Ohio fine delaines moved at 18% to 19 cents in the grease, with French clothing and combing staples at 13 to 14 cents. Wheat Feeds Higher. Cottonseed meal prices were weak at Eastern and Central Western markets, but held steady at Western points. Shipments of cottonseed meal into trade channels during December were about as large as the production. Since the beginning of the season, August 1, pro- duction of cottonseed meal has been 12 per cent smaller than a year ago, wl shipments have been 18 per cent smaller, resulting in some accumulation of cottonseed meal at mills. Prices of linseed meal were mostly unchanged the third week of January, but gluten feed and meal prices advanced about 50 cents per ton. The situation at Eastern points was ver{ strong, with good demand for the light offerings. remained very | DECLINE IN COLLATERAL 'etl rely light 5 omparatively sup- plies moved fairly well at Pittsburgh and Boston. Requirements for alfalfa hay in the East and South remained unusually light Grain Markets Weak. | | 1s today’s summary of corporation news | | Press: | ended November 30, $974,751 vs. net in- | come $3,579,849. i ment into consuming channels of sur- plus stocks in exporting countries. Sharply increased country shipments of corn tended to weaken the market for that grain, but current offerings were not great. Rye, oats and barley were | lower with wheat and corn. Flax mar- | kets were unsettled, but tended slight-| ly lower, reflecting the weakness in | linseed ofl and meal markets. Some Vegetables Lower. | Potatoes were slightly weaker in Western New York after the middle of | January, at 64 to 68! cents per 100 pounds. Russet Rurals strengthened a little in Westesn Michigan. Bushel tubs of Jersey type sweet potatoes from Maryland and Delaware strengthened to | a rang= of 50 cents to $1 in consuming | | centers. with bushel hampers from Vir- ginia firm at 25 to 75 cents. Celery prices tended downward. _Baltimore quoted New York celery at $1.75 to $2 per two-third crate. Bulk Danish cab- bage- ranged lower at $5 to $5.75 per |ton. Wet fields in the Imperial Valley | culture, Bureau of Agricultural Econom- |of California, were hindering the load- | ing of lettuce and prices advanced.| | Yellow onions were slightly lower in Western New York at 30 to 32 cents per 50-pound bag. City onion markets ing downward. Florida tomatoes were slightly weaker in city markets. Rhode Island Greening apples were a little lower in Western New York at 65 to 70 cents per bushel tub. 2 | | CORPORATION | |* REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, January 25.—Following epared by Standard Statistics Co., | c., New York, for the Associated | Automobiles and Trucks. Auburn Automobile Co. deficit, year Ford Motor Co. February schedule calls for 20,000 units of its new models; it is said large eight-cylinder car may be shown to the public January 28. Automobile Parts and Tires. Goodrich (B. F.) Co. producing about 20,600 tires daily. which \'olumegls ex- pected to be maintained through first half of 1933; retail tire outlets of com- pany are said to total between 20,000 and 22,000, an increase of about 5,000 over year ago. Food Products. National Biscuit Co. declared regulag quarterly dividend of 70 cents on com- | mon stock. mEieemlm Bros. common share earn- | gs. six months ended Decem | $1.10 vs. $1.89. s Investment Trusts. Marine Midland Corporation 1932 common-share earnings, $1.23, vs. $1.47. Standard Investing Corporation liqui- dating value, December 31, $1.75 a pre- {egl’srled share, vs. $5.73 on December 31, Machinery. Minneapolis-Moline Power Implement Co. cut prices substantially on its 1933 line; price of 21-32 tractor was cut about 20 per cent. 0il. Atlantic Refining Co. 1932 common- share earnings approximated $1.45, vs. 19 cents. North American Oil Consolidated 1932 common-share earnings 73 cents, vs. 12 cents. Railroad and Railroad Equipment. Chicago, St. Paul, Minneapolis & Omaha Railway December net railway operating income was $167,994, vs. net railway operating deficit of $104,617; 12 months net railway operating deficit was $10,892, vs. net railway operating income of $123,972. Norfolk & ‘Western Railway 1932 earnings indicated at $11.29 per com- mon share, vs. $14.39 for 1931. Pere Marquette Railway 1932 prelim- inary deficit was $3,046,668 vs. deficit, $1,863,081. Steel and Iron. Castle (A. M) & Co. 1932 deficit was $161,197 vs. deficit, $107,696. Jones & Laughlin Steel Corporation declared dividend of 25 cents on $7 preferred stock; 1932 deficit based on quarterly rt figures, $7,910,149 vs. deficit, $2,283,459. Tobacco. Axton-Fisher Tobacco Co. 1932 net income was $1,416,952 vs. $605,552. Imperial Tobacco Co. of Great Brit- ain & Ireland, Ltd, declared an extra dividend of 1 shilling and a final divi- dend of 8!, per cent for year ended October 31, 1932, on_ American . de- itary receipts for or registered Bk Yimiiar payment would be made on foreign shares. .LOANS IS MAINTAINED By the Associated Press” Loans of reporting member barks of the Federal Reserve system collateralled be securities showed a further shrinka during the week ended January 18. the table that follows the amounts of such loans are given for comparable | &0 by the Federal Re- weeks, as Teported - serve Board: Week ended January 18..$4,213,000,000 Previous 4,237,000,000 5,632,000,000 Baltimore Markets BALTIMORE, Md., January 25.—| White potatoes, per 100 pounds, 80a90; | barrel, 1.25a1.50; sweet potatoes, bushel, | 25a75; barrel, 50a1.00; beans, bushel, 125a1.75; beets, per 100, 150a2.00;] Brussels sprouts, quart, 10a15; cabbage, | basket, 25a30; carrots, per 100, 1.50a 200; cauliflower, crate, 1.40a1.50; celery, crate, 150a2.25; cucumbers, hamper, 2.0024.00; eggplants, crate, 1.50a3.50; lettuce, crate, 3.25a3.50; onions, per 100 pounds, 75a90; peas, bushel, 2.00a2.75; peppers, bushel, 75a1.25; tomatoes, lug, | 1.25a2.25; turnips, bushel, 20a25; apples, bushel, 25a1.60; squash, bushel, 1.00a 1.50; spinach, bushel, 50a1.00; cran- berries, box, 2.00a2.65; strawberries, pint, 11a13; grapefruit, box, 1.75a2.75: | cranges, box, 2.25a3.50; tangerines, half | box, 1.00a1.25. | Dairy Markets. Live Eflultry-'mrkeyx. hens, pound, 18; gobblers. 14; old hens, 16a17; old | toms, 12a13; capons, 14al8; young chickens, 11al5: all kinds poor and hin, 8a9; old hens, 10al4; Leghorns, 10al1; old roosters, 7a9; ducks, 9al12; geese, 10a15; guinea fowls, each, 15a40; pigeons, pair. 15a20. | Eggs—Receipts. 1,433 cases; hennery whites, dozen. 21a21'>; nearby firsts 20220 Western firsts, 20a20%:; So‘uthern firsts, 20; current receipts, Butter—Good to fancy. creamery, pound. 18 21: ladles, 15a16; store packed, 12; process butter, 18, Live Stock Market. Cattle—Recelpts, 50; steady; good to choice, 4.7525.00; medium to good, 4.50 24.75; fair to medium, 4.00a4.50; plain to fair, 3.5024.00; common to plain, 3.00a3.50. Bulls—Medium to good, 2.75 23.00; fair to medium, 2.50a2.75; plain to fair, 2.25a2.50: common to plain, | 2.00a2.25. Cows—Medium to good, 2.75 a3.00; fair to medium, 2.25a2.75; piain to fair, 1.75a2.00; common to plain, 1.25a1.75. Heifers—Good to choice, 4.50 | 24.75; medium to good. 4.00a4.50; fair | to médium, 3.50a4.00: piain to fair. 3.00 | 83.50; common to plain, 2.50a3.00. Fresh cows and springers, 30.00a60.00. Sheep and lambs—Receipts, 400: steady; sheep, 50a2.50. Lambs—Good to choice, 6.75a7.35; common to medium, 3.0026.00. Hogs—Receipts, 600; lower; lights, medium, 3.85a4.10; heavies, roughs, 2.20a2.95; light pigs, 3 .60; pigs, 3.65a3.90. Western hogs, 10a20 higher than quotations. Calves—Receipts, 50; steady; good to choice, 6.50a7.00; common to medium, 3.50a5.50. Hay and Grain. Wheat—No. 2 red Winter, garlicky, | 59%4; January delivery, 591; February, 59 Corn—-No. 2 yellow, spot. domestic, 39a40; cob corn (new), 1.75a1.85 per | barrel Ozats—No. 2 white, domestic, as to weight, 267:a29'2; No. 3, 25'2a26. Rye—Nearby bag lots, 40a45. Hay—Receipts, none. General hay market is quiet, but no surplus of good timothy. Prices range from 11.00a15.00 per ton, as to grade and kind. The poorer grades of hay are hard to sell at any price. Market irregular on every- thing below No. 3 timothy. Straw—No. 1 wheat, per ton, 9.00a 9.50; No. 1 oats, per ton, 9.00a9.50. U. S. TREASURY BALANCE. By the Associated Press. Treasury receipts for January 23 were $5,009,875.59; expenditures $21,- | 690,331.40; balance $360,686,157.55. Cus- toms duties for 23 days of January were $13,994,077.21. INVESTMENT TRUSTS NEW YORK, January 25 (#).—Over- the-counter market: H (Quotations as of 12 O'clock.) Am Bank Stock Bullock Fund . Cumulative Tr Sh Corporate Trust .. Corporate Trust A A . Corp Tr A A mod.. Corporate Trust Accu 2 Sorp, Trust Accum Ser mo Dividend Shrs. 3 Fund Tr Shrs A Fund Tr Shrs EEET e Pieterimt 2123 et m ; Trust Pund Shrs : ; Trusteed Am Bk : 3% | NEW YORK BANK STOCKS NEW YORK, January 25 (#).—Over- the-counter market: (Quotations as of 10 o'clock.) Banks. Chase (2) ..... Commercial (8) ° Pirst National (1 Nerions T Public (2 ..o Guaranty Irving Manutacutrers' (2 New York Trust (5) Title Guar. & Tr. extr. 4. “*Includes ‘Two-thirds of the motion pictures shown in British Malaya are from America, © Which the upward trend was interrupted only once, when it was announced that the Delaware & Hudson had passed the dividend on its capital stock. This unfavorable news was offset & little later by the declaration of a 50- cent disbursement on Pennsylvania stock, the first to be paid by that rail- road since last February. Although the accompanying state- ment made it clear that Pennsylvania shareholders need expect nothing more this year unless there is a sharp im- provement in business, the stock ad- :::A‘;:ed I::d wol;uv;gth it the other rail- shares, ulat. V] m{‘rket. ing the whole New York Central was spot. on the news that Dehwn:e!}!:mrll-lgudmn had acquired a 10 per cent interest, this information having been given out at the same time it was announced that no dividend would be paid. There was an unusually large batch of important news. From the longer range standpoint, the most important thing was the progress being made in the matter of the war debts. While it may not have been a factor in the stock market, the international out- look created’ optimism in banking circles. A more immediate influence was the decisive defeat of the infla- tionists in the Senate. That was re- flected in a lower market for silver, but it was a helpful development for stocks. The Iron Age put steel production at 17 per cent of capacity, a gain of a point on the week. From other quar- ters there came more encouraging news Tegarding the steel situation. A partial offset was a decline in electric output of 7.1 per cent against the falling off of 6.7 per cent in the precceding week. Prices were higher on the average all through the early trading. The only exceptions were the dairy stocks and the amusement shares. Borden was the weak spot in this part of the list, in re- sponse to the latest cut in the price of milk, which it was said the company would have to absorb inasmuch as it was impossible to pass it on to the farmer. On the other hand, Woolworth and National Biscuit, which had been under pressure the day before, rallied. American Telephone. Allied Chemical and other pivotal industrials made frac- tional gains. Shorts in United States Steel - ferred showed signs of nervousnes?l-:s the day of the dividend meeting drew near and were inclined to cover. Some line on operations of the leader may be had from the Bethlehem Steel report to be made public after the close tomor- row. At one time during the morning, steel preferred was up 2 points. % FOREIGN EXCHANGE, (Quotations furnished by W. B. Hibbs & Co.) Nominal gold Selling checks value 9 Londen. pound. Paris, franc a zloty ... Covenhagen, crown Oslo. crown Stockholm. - erown s Monireal, discount, 13757, PROVIDES NCREASED ., Q UPREME NCOME “ith Sficumn BOOKLET MATLED ON REQUEST LEROY GOFF 1036 Woodward Bldg. NAt. 0340 Money on Hand to Loan on First Deed of Trust 6 %o Interest Reasonable Commission and Prompt_Replies to Applications JAMES F. SHEA 643 Indiana Ave. N.W. THOUSANDS Save For That . " ““Rainy Day For they know that time- honored adage to be based upon truth...and that times DO come when they are in dire need of a cash reserve. Start now to prepare for any future emergency. Semi-Annual Dividends P.‘“?N.q( P&MAN ENT BUILDING ASSOCIATION U, 949-92k ST. NW. ¢ %"Ja fl‘-"s‘\ PERVISION VS The Fidelity | Building & Loan | Association Main Office, 610 13th N.W. 5 N. Capltol St M. Georgetown E.. Navy Yard 27 H St. b 3008 14th St., Mt. Pleasant | SAFETY, RETURN and AVAILABILITY | —are the three cardinal points | | to consider if you would WISELY || invest or deposit your money. | @ Our customer’s money ‘is in- | vested only in 1st Trust Mort- gages, secured on conservatively appraised real estate. ® We pay the maximum interest return, consistent with safety. | @ Experience has demonstrated | the prompt availability of money || in building and loan associations. d let give you full Gefatis"os “Gur Slans and methods.