Evening Star Newspaper, January 27, 1933, Page 14

FINANCIAL, FINANCIAL. STOCKSIN UPTURN AS MARKET CLOSES A-14 DROPIN CLEARINGS ‘SHOWN FOR WEEK THE EVENING ' STAR, WASHINGTON, D. C. NOTE—Today's I.Ill'lllll sales are not given in llll Ollflll Sales of eat u‘ s edition are ln- yesterday's pa) is_edition. Pm. 1933~ Bales— Low. ay's indi (his odition. Sales o8 B me‘ "wm ...":'..:"n'it:.., s paver. Srer 103 Bhock and et. Aflfi 00. High. High. Low. Dividend Rate. TE_Totas individuat sales st Sates 50 Sheh siork | o not_given in this ‘Sre from yesterday's paver: ~Prev, 1033— Bhock N High. Low. Dividend Rate, _Add 00. High. sales are not riven in this edition. S e S pivteotier’s pmer._ e Bales— Add 00. High. Low. Close. Chge. mk and Stock and Dividend Rate. Small Decrease in District f, Laid to Unseasonable Winter Weather. BY EDWARD C. STONE. Bank clearings in the National Capi- $al for the week ending January 35 totaled $16,272,000, in comparison With $17,528,000 in the previous week, and 15.9 per cent below the summary for the corresponding week last year. The slight falling off is in line with lower clearings in most of the other large cities in the country and is be- lieved to be due chiefly to the un- usually warm weather for the Midwinter season. Bnlumore report- clearings of SAS 031,000, com- pared with $53,- 165,000 in the pre- vious week and down over 22 per cent from last year. Richmond clearings were also lower, being $20,309,000, compared with $27,- 742,000 for the week ended January 18, and 33.6 per cent below the total clear- ings in the corresponding week in 1932, Norfolk presented some rather star- tling figures. Clearings for the week under review were $1,758,000, against $2,342,000 for the week ended January 18, and 46 per cent below the same week in the previous year. Warm weather slowing up coal shipments is understood to be one of the chief causes of the slump. According to Bradstreet's Weekly, clearings for the whole country were 30.2 per cent below the previous week and 17.7 less than a year ago. Sales Congress Great Success. John P. Lynch, president of the Dis- trict of Columbia Life Underwriters' Association, and his fellow members made a brilllant success of the Wash- ington-Maryland Sales Congress, held yesterday at the Shoreham Hotel. More than 500 life underwriters in this city, Maryland and Virginia were present, double the attendance of the last sim- ilar conference held here. J. Custis Handy, acting president of the Balti- more association, brought more than 100 members with him and presided at one of the business sessions. As it was a sales conference, all the speakers stressed the best methods of selling life insurance. Louis C. Roth of Buffalo started his business career as a shoe salesman, switched into life insurance and sold policies totaling more than $1,000,000 last year. The 5 five-minute talks by John B. Cleland, jr., and Paul H. Primm of Washington and Thomas W. Harrison, jr.; Carl E. Hecht and Abram M. Seligman of Bal- timore were filled with sound sugges- tions. ~" McClelland J. Donnelly of New Castle, Pa., another speaker, originated the widely known insurance advertise- ment entitled “The Ten Widows Street.” In his home town at one time 10 widaws lived on the same street, all being able to live in moderate comfort on the life insurance left by their hus- bands. Oliver Thurman was perhaps the best known speaker. He is in the $1,000,000 producing class and was one of the organizers of the Life Insurance Research Bureau, at Hartford, Conn., ‘which is of such tremendous value to all agency heads. Holgar J. Johnson of Pittsburgh and Robert B. Coolidge, president of the Cleveland Underwriters’ Assochnon. also made excellent ad- The “Shoreham’s main dining room was packed at the luncheon, during which several musical selections were rendered and a playlet, “Life’s Like ‘That,” was presented by Carl Smith g‘?w, George Clendaniel and Frank ot. Otterback Attends Savings Parley. Maurice Otterback, president of the Anacostia Bank, is attending the East- ern Regional Savings Conference, now in session in New York. At yesterday's meeting, President Francis H. Sisson of the American Bankers' Association, spoke at length on the Glass bill. He concluded his address with an attack on inflation. Inflation, he said, is not the pathway to business recovery in the United States and bankers should oppose “such misguided efforts to bet- ter our economic situation.” Increased protection for municipal securities, greater control of public ex- penditures, and real instead of feigned economy, were demanded by other akers and it was stated that in times EE these the things that touch the pocketbook are of commanding im- portance. Technocracy came in for a share of the forum discussions yester- day. Two important addresses today covered “The Mortgage Situation” and “The Federal Reserve System—Can Its Services Be Fitted to the Needs of the Savings Banks and Savings Depart- ments.” Trading on D. C. Exchange. The transfer of $1.000 Washington Gas 6s, series A, at 10015, started business on the Washington Stock Exchange today. Capital Traction stock next appeared on the board, two small sales taking place at 11. Potomac Electric Power 5'2 per cent preferred came out in three small lot sales at 107':. _After call, Washington Gas 6s, series B, recorded $6,000 and $500 sales at 10012. Capital Traction 5s shanged hands in two $500 sales at 56% ‘Washington Railway & Electric pre- ferred came out on the board today for the first time in many sessions. It sold at 887, % and % on a 35-share turn- over. The unlisted securities were ‘checked up, as usual on Friday. Two changes were noted, Naticnal Press Building first 5lis advancing from 21 to 22 and Washington Suburban 5%z moving from 65 to 67. Heard in Financial District. Charles B. Quarles, who has been connected with the Washington office of Mackubin, Goodrich & Co., for the past three years, has been Lppol.nud an assistant manager. He is a native of Virginia and was in the real estate business for several years before en- tering the brokerage field. ‘The board of directors of Niagara Share Corporation of Maryland have declared a full year's dividend cn the class A $6 preferred stock of the com- pany, payable, $1.50 quarterly, April 1, July 1, October 2 and January 2, to holders of record March 15, June 15, September 15 and December 15. Byron D. Miller, president of the F. ‘W. Woolworth Co., was eected to the bedrd of directors of the Lincoln Life ance Co. at Fort Wayne, Ind, & days ago. recent Treasury offering of $250,- 25 per cent notes has been 'ovgrsubscribed 31 times, according to Secretary Mills. The pnr:t.\ce of pad- ding oflers ha.s now reached such pro- ‘portions the department is oonddu'lnl mensures to deal with it 4n the interest of both the subscribers and the Treasury, Secretary Mills said. $1,000,000 Pipe Line Order. ‘YOUNGSTOWN, Ohio, January 27 () —Republic Steel Corporation has be- ‘gun work on a $1,000,000 order of 14,000 toms of electrically welded 8-inch pipe for the Phillips Petroleum Corporation for a 210-mile crude oil pipe line from Oklahoma City to one of its refineries. ‘The order will require capacity opera- tion of one of Republic’s three electric- weld mills for a month, with corre- John P. Lynch, activity in blast furnace, Hoartn furnace, blooming mill ;flm 4% Adams Express. 12% Adams Miills (2). 815 AddressegTaph. 9% Afiliated Prod 1. 58% Air Reduction (3) 11% Alaska Juneau(60c). 1 Albeny Wrap Paper 1 Alleghany Corp.. 80% Aliled Chem & D (6). 121% 118% Allied Chem pf (1).. 22 20 Amerada Corp (2) 2% Am Beet Sugar pf. 10 Am Brake Sh&F'(6/ 693 Am Brake Sh pt (7) 54 AmCan(4)..... 19% Am Comec'l Alcohol. . 8% Am European Secur. 6% Am & Foreign Pwr. ., 9% Am & For Pwr pf(7). 6% Am & For Pwr 2d pf.. 4% Am Haw Stship (1).. 86' Am Home Prod 4.20 6% Am International.... % Am La France&Fom. 5% Am Locomotivy 17% Am Locomotiv 2 AmMach& Metals. 7% Am Fower & Light... 17% Am P&Ltpf A (2%). 19 Am Pwr &Lt pf (3) 6% Am Radiator... 7% Am Rolling Mills, 20% Am Safety Ragor (3). 12 Am Sm & Ref. 20% Am Sm & Ref 6% D! 3215 Am Snuff (13%) 35% 102'% 102'% Am Snuff pf (6). T 56 5% Am Steel Foundry 48 Am Steel Fdry pf(7). 35% 31% Am Stores (12%). 7% 109% 1027 21'; Am Sugar (2). 63 Am Sumatra T¢ Am Tel & Tel (9). 537 Am Tobacco (5).. 55% Am Tobacco (B) (5). 13 Am Tvpe Fdrspf. ... 15% Am Water Works(1). 13% Am Wat Wks ctfs(1) 53 Am Wat W 1st pf(6). 23 Am Woolen pf. . 2% Am Zinc & Lead. 41 Armour of Del p£(7). 184 Armour of 111 (A). % Armour of Ill (B)... Artloom pf. . 2 13% Asso Dry G 2d pf* 39 Atchison....... 17% Atlantic Coast Lin 15% Atlantic Refining(1). 45 Auburn Auto (d4)... 14 Austin-Nichols A (1) 65 Avation Corp (Del 4% Baldwin Locomot.. . Baldwin Locomot pf. Baltimo! Ohfo.... Baltimore & Ohio pf. Bangor & Arostk(2). « Bang & Aroos pf (7). Barnsdal! Corp...... Beatrice Creamery.. Beech-Nut Pkg (3). Belding-Hemingway Bendix Aviation Bethlehem St Bethlehem Steel pf. Bonn Alumn & Brass Borden Co (2). Borg Warner, Briges Mfg Co. '3 Bkyn Manhat Trll. . Bklvn Man Tr pf (6). 4 Bklyn Union Gas(5). Burns Bros pf. Burroughs AM 7% Bush Term'] deb stk. 20 Bush Terminal pt(7) 128 2! 12% Canaiian Pacific 14% Cannon Mills (1). 39% Case (JI) Co........ 6% Caterplillar Trac 501:. 7% Celanese Corp. ..... 14 Cent Aguirre (1%).. 59 Century Rib M pf(7). “25 57 Cerro de Pasco. 17% Checker Cab M: 26% Ches & Ohlo (2%) 1474 Chesapeake Corp (2) 2% ChiGreat Western.. 7 Chi Great Westn pf. 1% Chi Mil StP & Pac.... 214 Chi Mil StP & Pac pf. 3% Chi & Northwestern. 2% Chi Pneumatic Tool.. 5% Chi RI & Pac 7% pf. 131 Chrysler Corp (1)... Cluett-Peabody (1).. 90 Cluett Peabody pf (7] 7315 Coca-Cola Co (7).... 11 Colgate-Palm-P (1). 79% Culg-Palm-P pf (6). 4 Collins & Alkman. 914 Columbia Pic ctfs 27% Columb Carbon (2).. 4% Commercial Credit.. 1814 Comcl Inv Trust (2). 84 Comcl Invev pf(e6). 10 Comcl Solv (60¢).... 2% Comwlth & Southn. . 42 Comwlth & Sou pf(6) 1% Consol Film. 4 Consol Laund 50c.... 5% Consol Ofl Corp. 86 Contl Baking pf (4) 384 Contl Can (2). 147 Contl Insur (1.20) 524 Corn Products (3 136% Corn Prod pf (1) 106 61% 6 20% 1 1% % 25% 31 34% 5% 1% 1 31 18% 14% 63% 56 31 Coty. Inc. ...... 247 Cream of Wht(f2) 16% Crown Cork & Seal. . 1714 Crucible Steel pf.... 10 Cuban-Am Sugar pf. 2114 Cudahy Packing 2%. 42 Curtis Publish pf(7). -Wright. Wright . 31 Davega Stores (60c). 7% Deere & Co pf (40c).. 45 Delaware & Hudson., 20% Del Lack & Westn. 67 Detroit Edison (68).. 18% Diamond Match (1). 26% Diamond Mach pf 1% 12% Dome Mines (11.30). 10% Doug Alreraft (75¢). 341 Drug Corp (4) 3615 Dupont de Nem (2).. 103 Dupont deN db of(6) 54 Eastman Kodak (3). 5% Eaton Mfg Co. .. Eitinzton-Schild. ... 18 Elec Auto-L (1.20).. 1 Electric Boat. 1% Elec & Musical I 5% Klec Pwr & Lt. 23% Elec Storage Bat (2). 29% Endicott-Johnson(3) 28 EnzPSofww(5%). 4% Erie R R 2d pf. 1__Evans Auto Prod. 7 Federal Screw Wks.. 215 Fed Water Service A 16% Fidelity-Phoen 1.20, 12% Firestone T& R (1). 61 Firestone T&R pf(6) 51% First Nat Strs (2%;). Florsheim Shoe (A). 8 Foster-Wheeler..... 18% Fourth Nat Inv 1.10 1% Fox Film (A). . 12 Franklin Smn p . 23 Freeport-Texas (2). 6% Gamewell Co... . 1 165% Gen Am Tank Cl-l’(l) 13 Gen Baking (2) 14% Gen Electric (4 11% Gen Elec spee (60¢] 23% Gen Foods (2).. 1 GenGas & Blec (A) 10% Gen G&EL pf A (£7). 13 Gen G&El pf A (g8). 38% Gen Mills (3). . 12% Gen Motors (1). 72% Gen Motors pf (5)... 35 Gen Prtg Ink pf (6). 2% Gen Pub!ic Service. . 13% Gen Ry Signal (1)... 17% Clllette Saf Ras (1). T1% Gillette Saf R pf (5). 1% Gimbel Bro 5% Glidden Co. 56 Glidden Co prpf (7). 3% Gobel (Adolf) (ISP P =TSSP P1" 1%y - - TN - 60s T 40s 184 3 13y 2 9y 3 24 39 11y 1 15% 114 46% i ™ 2 T 2 16% 62 ™% Net. Lividend Rate. mlgo H!fli. !fl; Close. Chge. 4% — Yl 12% 8 10% 6015 12% 1% 1% 86Y% 121% 20 3% 10% 7 61% 20% 8% 6% 111 ™ 4% 36% L+ ORISR X ER *N$## FIrE F FE Fe L I+l 1+11014 » + & [ S B o B IS + o+ SR F FR P 1% K W FOLF RFFEER X ¥ ¥ F2¥ 5% SEEE & 18% 45 13% 215 6% 21% 11% T4 1% 14 Goodyear TirekRub, 36 Goodyear 1st pf (7). 12 Gotham Silk Hollm 1% Graham-Paige 5 Grand Unlon, 19 Grant (WT) (1) 7% Great Northern pf. 7 Great West Sug. 1 Grigsby Grunow % Guantanamo Sugar. . 9% Gulf States Steel..., 16% Gulf States Stl 1st pf 14% 32 23% 50 17% Hackensak W (1%), 12 Hahn Dept i:iores pf, 8 Harbison & "' alker.. 11 Hayes Body. ... 69' Helme (GW) ('7)... 5 Hercules Motor..... 16 Hercules Powder 1% 52% Hershey Choc (5). 8% Holland Furnace. ... Houdaille-Hersh(A) Houdaille-Hersh (B) Houston Oil. ... Houston Oil (new 53 Howe Sound (40c) 4% Hudson Motor Car, 2% Hupp Motors 11% Illinois Central. 28% Industrial Rayon (2) 234 Ingersoll-Rand(1%). 1% Insuranshares (Md). 4% Interboro Rap Trans. 2% Interlake Iron. 89 Int Bus Mach 2% Int Carriers Ltd 20 . % Int Combustion. . 5% Int Combustion pf 20% Int Harvester (1.20). 80 Int Harvester pf (7). 5'% Int Hydro-Elec (A) 7% Int Nickel of Can. 215 Int Paper & Pwr pf. . 63 Int Tele & Teleg. 24 Interstate Dept S 13 _Island Creek Coal(2 25 Jewel Tea Co (3). 19% Johns-Manville. 40 Jones & Laugh p! 2 13% P ™10 106% K C P&Lt 1st pr(‘) 8% 15 % 5% i i 4l 13% 10% 37 3114 43% 2% [ 2% 1% Y % 3114 27% 102% 29! 104% 101 55% 88 101% 28% 3% 10 7% Kansas City Southn., 13 Kan City Sou pf (2). 3 Kelsey-Hayes Wheel 4% Kelvinator Corp. 80 Kendall Co pf (6 8% Kennecott Copper... 83 Kresge (SS) Co (1). 99 Kresge (SS) pf (T).s 27 Kress (SH) (f1).... 1615 Krozer Grocery (1). 28% Lambert Co (4).. 1% Lehigh Valley Coal. 10%; Lehigh Valley RR.. 41% Lehman Corp (2.40).. Lehn & Fink (2). .. Liggett & Myers(15)’ % Ligg & Myers B (15). Ligg & Myers pf (7). Link Belt (80¢)..... Loew’s, Inc (3). Lorlllard (P) (1.70). Lorillard (P) pt (7). % Louisiana Ofl Lou Gas&El A (1%). Loutsville & Nash. .. % McCall Corpn (2).... McCrory Stores. Melntyre P M(f1%) McKeesport T P (4). McLellan Stores..... Mack Trucks (1).... 2 Maey (RH) & Co (2) Manhat Elev mod gtd Manhattan Elev gtd.. Maracaibo Oil Exp. Marine Midld (30c) Mathieson Alk (1%). May Dept Stores (1), Maytag Co 1st pf. Melville Shoe (1. "D). Mengel Co Met-Gold Pic pt 1.89. M 1sd(4) Mo Kan & Texas Mo Kan & Texas Missouri Pacific 4 Missour| Pacifie pf. . Monsanto Chem 1% .. Montgomery Ward.. Mullins Mfg Muilins Mfg pf. Murray Corp. .. sh Motors (1) sh Chat & St L. « Bella Hess pf Nat Lead PrA(T) Nat Lead pf B (6) Nat Pwr & Lt (1). Nat Steel (50c). Nat Supply pf. 4 Nat Surety.. t Tea (60¢).. isner Brother: N Y Central. .. N Y Chicago & N YCM&S!LD(.... NY & Harlem (5)... N Y Investors. . N Y NH & Hartford. 4 NYNH & Hart pf.. N Y Ont & Western. . Noranda Min (a1.10) rfolk & West (8).. Norf & Westn pf (4) North Am Aviation. . Nor Amer(b10 % stk) North Am Ed pf (6). Northern Pacific. . .. Norwalk Tire & Rub. 6% Ohio 011 (a50¢)... 1% Oliver Farm Bquip.. 4% Orpheum Circuit pf. 10% Otis Elevator (1). 9814 Otis Elev pf (6). 3 OtisSteel... 7 Otis Steel pr pf. 33% Owens 1) Glass (2). 28% Pacific Gas & El (2). 374 Pacific Lichting (3). 21 Packard Motor Car.. 1; Panhandle Pro&Ref. IV Taramount Publix % Park Utah 1% Parmelee Trnnflmr!. % Pathe Exchange Penick & Ford (1 Penney (J C) (1.80). Penny (J C) of (6).. 18% Penna RR (h50¢).... 75 Peoples DS pf (615). 67 Peoples Gas Chi (5). 5% Pere Marquette pf... 6 Pere Marquette pr pf. 4% Petrol Corp of Am... 4% Phelps Dodge. 2915 Phila Co 6% (3). 3% Phila & Read C& 8% Philip ‘\{orris&Coll) 4% Phillips Petroleum. . 29 2“& \ » FNmantawar~ -] 52 PN - PYVRIOTYS 108 - JUI0L J01 - PIIPIVIOPRL. 1 T QUTeITory 4 Pittston Co. . 2 2% Port Ric Am Tob(A). % Presced Steel Car. .. 31 Pressed Steel Car pf. 23 Proctor & Gam(1%). Proc & Gamb pf (5). 52 Public Sve N J(3.20). 84% Public Sve NJ pf (5). 97% Public Sve NJ pf (6). 18% Pullman Corp (3). 3% PureOil.... . 7 __Purity Bakeries (1).. _— T 6 11% 3% 32% 8 4 2 8157 62% 33% % 5% 21% 42% 8% 1% 1% % % 20% 22% 2% 4% Radio Corp. . . 8% Radio Corp pf B. . 1% Radic-Keith-Orph... RR Sec 111 Cent Stk.. 24% Reading Rwy (1). 6% Real Silk Hoslery. 3% Rer inton-Rand. 1% Reo Motor Car 5% Republic Steel. 11 Republic Steel pf. 8 Reynolds Metais(1). 60 Revnolds Tob A (3)., 26% Reynolds Tob B (3).". % Richfleld Ofl........ 4 Rossia Ins of Amer.. 19% Roval Dutel 39% Safeway Stores (3). T4 St Joseph Lead 1 StL-San Francisco.. 1% St L-San Fran pf. 6% Schulte Ret Stor pf.. % Seaboard Air Line. .. 16% Seaboard Oil Del 40e. 18% Sears Roebuck. 1% Second Nat Inv., % Seneca Copper. Servel tnc. ... % Sharp & Dohm 21!& Sharp &Dohme pf(2) 8% Shattuck(FG) (50c). 4% Shell Union Ofl. 6% Stmmons Co. . 5% Simms P-trolm(flc) 24 Skelly Ol of ww. 6% Socony Vacuum 61 SolvAmpf ww(5%). lh 16% Se Port Ric Sug 1.60. - 8 ~ : 5 & RS e et ant ey o 16% 43 12% 1% FULLL+0 01+ +1 +1 ':e+ +110 EFFFF FP REEFE FaS LT+ | » +1 S L PEELPFS EFEEF FERFFFE FOF FlAel+ 4+ l+1+1+1+ ++110 ®ORFER Fartt) [+ 4+ ++ +14 ++ i8 [l | + P+ REFEEFFEF SEEOFEE ¥ i FR * “rery wp o# opas SNESFEEFE # FRER FE - FFEF FFEF EX 25% Southern Cal Bd(2).. 8 3% 3% Southern Dairies A 1 4% Southern Raflway... 5% Southern'Railway b 14% Standard Brands (1). 12% Stand Gas&El (1.20). 20% Stand Gas&El pf (4). 43 Stand Gas&EIl pf (7). 237% Stand Oll Calif (2).. 99% Stand Oil Exp pf (5). 15 Stand Oil Kansas 22 Sterling Secur cv pf. 3% Stewart Warner. 23Y% Studebaker pf (7)... 210. 92 Sun Oil pf (6). . 30s % Superior Of 1 Corp (1).. 22 Tex Gulf Sulph (2).. 4% Tex Pacific Land Tr. The Falr. 514 Third Avenue. 1434 Third Nat Inv (30c) . 5% Thompson Products, 3% Tido Water Asso Ofl. 14% Timken Roller Bg(1) 5 Transamerica Corp.. 8% Tri-Contl Corp. 55 Tri-Contl Corp nf(C) 12 Und-Ell-Fisher(50c) 26% Un Carbide & C(1.20) 11% 9% Un Oll of Calif (1) 77% 69% Union Pacific (6) 67% 68 Union Pacific pt (4). 11% Un Tank Car (1.40).. 25% Unit Aircraft.. 15% Unit Biscuit (2). 121 Unit Carbon. .. Unit Cigar Stores. .. Unit Corp (40c) 6 4% 59 14 28% Unit Fruit (2)....... Unit Gas&Im (1.20). Unit Gas&Im pt (5) Unit Pice D W pt sl,i 110- 4% U S & Forn Secur. 46% U S & Forn See pf. 15 20% U S Gypsum (1.60) 101% U S Gypsum pf (1) 23% U S Indus Alcohol. 105 8 U S Plpe&Fdry (50c) 8% 18% 6% 8% 14% 3% 1% Wabash 2 1 Wabash 8% 7% Waldorf 2% 6% 1% 10% 51 54 63 | 101 110 106% West Pa West Pa West Pa West Pa West Pa W Weuern Western Westing's 1332 10:30 A M. 0 P.M. 21. in SEaie i 8% U S Realty & Imp.... 4% U S Rubber. . 8% U S Rubber 1st 13% U S Smtg & Ref (1).. 391 U S Smtg&Ref pf 3% 2 26% U S Steel.... 69 U S Steel pf (7) 19 64 59 U S Tobacco (4.40).. 4 47% Unit Stores pf (3%).. 2 % Univ Pipe & Rad....: 1 Utah Copper. .. 3% Util Pwr & Lt (A). 11% Vanadium Corp. . ‘Van Raalte 1st pf 20% 17 Vulcan Detinning . 620,000 *Unit of trading less than 100 shares. 4% o stock, sPaid this veac—no reguiar rav tock. © Pavable in cash or sioc o stock, -1 S I Epecial m Paid r:-n year—no regular rate, 3% 3% + % Al AY — % 9% 9% o 16% 17% 42% 42% 3% 4% 914 17% 42Y% 8930s 29% prf(A). pt (B) . Svatem (1). & Warn Bros Pictures. 17 Warner Bros Pic pf. 1 Warren Bros cv pf. . Wesson Ofl & Sn (1). 308 1 Elec A (7).. Elec pf (6). DL (). Pwr pt (6). Pwrpf (7). 60s, 108 208 Maryland Union. . se Alr B(1). Westinghouse Elec. . Westinghse 1st (3%) Westvaco Chlorine. . White Sewing Mach. Wilcox O1l & Gas. Wiilys-Overland. Wiison & Co. . . Wilson & Co (&). Wilson & Co pf. Woolworth Worthington ~ Yellow Truck Youngstown 5 4 Zonite Produets..... % 4 4 Saies of Stocks on New York Exchange. 31 Sh&Tu. 1% 10% 1% + % + 100.000 12:00 Noon 2:10 P.M.. 340,000 750,000 u"-my extra. iPlus lus 8% refertea siock. nPlis 5% Dividerd rates as given in the above table are the annual eas] Dayments based on the Iatest GUASLETY OF BaltSearly detioratins CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, January 27.—The fol- lowing is today's summary of corpor- ation news prepared by Standard Sta- tistics Co., Inc, New York, for the As- sociated Press: % Aircraft. United Aircraft & Transport Corpo- | ration, subsidiary Boeing Afrplane Co.,| received $1,201,117 contract from War | Department for 11! planes and spare | parts; Pratt & Whitney Aircraft Co.,| another subsidiary, received $157,729 | contract for 28 hornet radial air-cooled engines and spare parts. Food Products. General Biking Co. common share earnings 53 weeks ended December 31 $1.94, vs. $2.58 in year ended December 26, 1931. Machinery- Atlas Imperial Diesel Engine Co.)| deficit year ended November 30 $501,- 838, vs. Deficit $222,208. Metals (Non-ferrous). Howe Sound Co. deficit before deple- ;lon was $76,697, vs. net income $593, 15. Teck-Hughes Gold Mines, Ltd., com- mon share earnings quarter ended No- | vember 30 16 cents, vs. 16 cents. 0il- National Refining Co. 1932 deficit was $1.187,858, vs. deficit $752,286. Phillips Petroleum Co. ordered 14,000 | tons of pipe from Republic Steel Cor~ poration. Pipe will be used for a line from Oklahoma City to company's line in Kansas, and will cost about $1,000,000. Railraod and Railroad Equipment. American Brake Shoe & Foundry ;23253[)1’9&!1’6"1 share earnings $2.70 vs. .53. | Bangor & Aroostook Railroad 1932 common share earnings $3.23 vs. $2.68. Boston & Maine Railroad 1932 pre- liminary prior preferred share earnings | $3.46 vs. $14.60. Chicago, Milwaukee, St. Paul & Pa- | cific Railroad December net operating income of $594,231; 12 months net oper- ating deficit was $518.116 vs. net oper- ating income of $8,334.406. Chicago & North Western Railway December net operating income up 80.8 | per cent; 12 months off 77.3 per cent. | Erie Railroad December net operating | income up 69.2 per cent; 12 months off | 14.8 per cent. Great Northern Railway December mnet operating income off 52.9 per cent; 12 months off 89.9 per cent. Missouri-Kansas-Texas Railroad 1932 deficit $632.416 vs. net income $675,226. New York, New Haven & Hartford Railroad 1932 preliminary deficit be- fore guarantees $393,047 vs. net income $9,179,869. Retail Trade. Neisner Bros.,, Inc:, declared a divi- dend of $1.75 on preferred stock; this marked resumption of dividends on pre- ferred, last payment having been $1.75 on February 1, 1932. Steel and Iron. Bethlehem Steel Corporation pre- liminary report indicates deficit for 1932 was $19,404,431, vs. net income $115,745; orders on hand December 31, 1932, totaled $30,568,937, compared with $23,598,882 on September 30, 1932, and $41,514,877 on December 31, 1931; op- erations in 1932 averaged about 16.9 per cent of capacity, compared with 38.6 per cent for 1931; current operations are at about 15 per cent of capacity and rate is supported by incoming business; gross sales in 1932 were $98,467,226, compared with $186,541,195 in 1931; business booked in 1932 totaled $87,388,- 870, against $150,077,099 in 1931; cash and liquid securities on December 31, 1932, totaled $46,975,589, compared with $50,278,721 on December 31, 1931; funded debt was reduced by $10,759,- 457 during the year. ‘Warren Foundry & Pipe Corporation 1932 preliminary deficit, $49,786, vs. net income, $294,188. Utilities. British Columbia Power Corporation, Lt., gross revenue, six months ended December 31, 1932, off 9 per cent; net after expenses off 25.8 per cent. Niagara Hudson Power Corporation declared quarterly dividend of 25 cents on common stock; previously paid 30 cents quarterly. Virgini> Electric & Power Co. to spend ebout $1,000,000 on new con- struction in 1933. NEW YORK BANK STOCKS NEW YORK, Jmu..ry 27 (P).—Over- the-counter market: (Quotations as of 10 e’clock.) Bid. Afl!d 35 2 % 1505 15! 30% 441 20% TRUST COMPANIES. Seates Ghemical (1 Eontinental (1.2 1gem Ixchlun ® | Empire ¢ 23 income was $287,475 vs. net operating | tom. gBaufic - & RESERVE BANK LOANS DECLINE $250,000,000 | Securities Account and All Other Accommodations Off Sharply in Three Months. By the Associated Press. Loans granted by Federal Reserve | member banks from October 15 to De- cember 15, declined $250,000,000, rep- | resenting a decrease in both loans on | securities and on all other loans. i The investments of the banks in the same period, the Federal Reserve Board reported in its January review of busi ness and finance, showed little change, with most 6f the decrease in loans out- | side of New York City. The decrease | followed an increase in loans of $300,- 000,000 from July to October; thus the December credit volume was $550,000,- 000 above the midsummer low. Compilation on September 30 showed total loans and investments of all banks of $42,852,000,000, indicating a decrease of $219,000.000 for the preceding three | months and a decrease of $12,983 000-\ 000 or 22 per cent, since October 4. | 1929. of the decline in the period was a tributed to banks which had suspended | | operations in the three years. The latest reports, it continued, showed an increase of $44,000,000 for | member banks in the third quarter of | 1932 and a decrease of $7.869,000,000 since October, 1929. The increase in bank loans and investments between July and September, it said, occurred entirely at banks in New York City, | with little change in other reserve cities | and a continued decline at non-member | | and country banks 'STEEL HEAD IS IS HOPEFUL OF EARLY TRADE GAINS By the Associated Press. NEW YORK, January 27.—Eugene G. | Grace, president of the Bethlehem Steel | Corporation, said that the past six months of stabilized operation in the | steel industry without any further fad- ing away to still lower levels indicated to him that “business had struck bot- “I hope three months from now, when our first-quarter earnings are made pub- | | lic, that I'll have a cheerful report to make. I don't know; nobody does. But one of these days business will turn up, and I don't think it will be so long as a lot of people think.” | Grace, who has never been known in the steel industry as a Pollyanna. made his statement in an interview following | the release for publication of Bethlehem | earnings. They showed a deficit after | all charges of $5,621,672 for the fourth quarter of 1932 against $5.425724 the previous quarter. The preliminary fig- ures for the full year 1932 showed a deficit of $19,404,431, against net income of $115,745 in 1931. Atlantic City Bank Closed. ATLANTIC CITY, N. J.. January 27 (#).—The Chelsea-Second National Bank & Trust Co. announced, through its president, Dr. J. B. Thompson, that it would not open its doors for business today. The bank is the first institu- tion to close in this city. SHORT-TERM SECURITIES. (Reported by Chas. D. B&me% & oo Allis-Chalmers Co. 5s 1937 American Chain Co. s 19 ‘Amer_ Tel. & Tel. blas 19 Am_ Wat. ‘Wks_ & EL 55 1 Baltimore & Ohio 4%s 1 Belding Hemingway “6s Bethlehem_ Steel Co. el So. Ry. 4ias 1 Commercial Creait 5'as 1 Delaware & Hudsen 55 19 Den. & Rio Grande 4125 1 Gen. Mot Accep, Co. fis 1 Gen! Petroleum Corp. 5s 1 Gen. Publi Great Northern Ry. 75 19 Keystone Tele hm:e 5: 1 ’i Northwest. Telm £ m.u Eenna, K. R Co, %; 1t Portland Gen. INVESTMENT TRUSTS NEW YORK, Janu 27 . —Over- the-counter market. <ty 5 (Quotations as of 12 e’clock.) T r Accum Ber Mod: Dlvmend Shrs d Tr Shrs A me Tr Shrs B est Tr st S SFESiaZSe glfi‘gé Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., January 27— White potatoes, per 100 p-unds, 80a90; barrel, 1.2521.50; sweet potatoes, bushel, 25a75; barrel, 50a1.00; beans, bushel, 1.25a1.75; beets, per 100, 1.5022.00; brussel sprouts, quart, 10a15; cabb: basket, 25a30; carrots, per 100, 2.00; caulifiower, crate, 140a ; celery, crate, 150a2.25; cucumbers, hamper, 2.0024.00; eggplants, _crate, 150a3.50; lettuce, crate, 3.25a3.50; cnions, per 100 pounds, 75a90:; peas, bushel, 2.00a2.75; peppers, bushel, 75a 1.25; tomatoes, lug, 1.25a2.25; turnips, 20a25; apples, bush:l, 25a1.60; bu-hel, 1.00a1.50; spinach, bo: oranges, b X, 2.25 3.50; tangerines, half box, 1.00a125. Dairy Markets. Live poultry—Turkeys, hens, pvund 18; gnbb'ers 14; old hens, 16z al3; capons, 14al8; guinea fowls, 15a40; pair, 15a20. Receipts, 1436 cases; hennery dozen, 21a21',; nearby firsts, We:tern firsts, 2022012 firsts, 20; current receipt:, 15. Butter—Good to fancy creamery, | pound, 18!a21; ladles, 15al6; store packed, 12; process butter, 18, Live Stock Market. 75 head; steady; 4.7525.00; medium to 2004, 4.50a4.75, fair to medium, 4.00a 4.50; plain to fair, 3.50a4.00; common to pldln 3.00a3.50; bulls, medium to good, 2.75a3.00; fair to medium, 2.50a 2.75; plain to fair, 2.2522.50; common | to plain, 2.00a2.25; cows, medium to ! go_qd. 2.7523.00; fair to medium, 2.25a .75, tc plain 1.25a1 heifers, good to choice, 4.5024.75; medium to good, 4.00a4.50; fair to medium, 3.50a4.00; plain to fair, 3.00a3.50; common to plain, 250a3.00; fresh cows and springers, 30.00a60.00. Sheep and lambs—Receipts, 700 head; lower: sheep. 50a2.50; lambs, good to choice, 6.70a7.00; common to medium, 3.50a6.00. Hogs—Receipts, 1.400 head; highe | lichts, 3.90a4.20; medium, 3.90a4. | heavies, 3.4584.00; roug"ls 2.30a3.05; light pigs, 3.45a3.7 gs, 3.75a4.4 rn hogs, 10a20 " Higher ~ than quotaticns, Calves—Receipts, 57 head; steady; good to choice, 6.50a7.50; common to | med.lum 3.5085.50. Hay and Grain. Wheat—No. 2 red Winter, garlicky, gg; January delivery, 58'4; February, ‘each, pigeon Egg: Corn—No, 2 yellow, spot, domestic, | 39240; cob corn (new), $1.75a1.85 per barrel. Oats—No. 2 white, domestic, as to weight, 2612a2913; No. 3, 2514226. Rye—Nearby bag lots, 40a50. Hay—Receipts, none. market is quiet, but no surplus of good timothy. Prices range from 11.00a15.00 per ton, as to grade and kind. poorer grades of hay are hard to sell at any price. thing below No. 3 timothy. Straw—No. 1 wheat, per ton, 9.00a 9.50; No. 1 oats, per ton, 9.00a9.50. —_— Dry Goods Buying Gains. NEW YORK, January 27 (#).—Ex-| periencing their first real activity since | the opening of the Spring buying sea- son, several of the primary dry goods markets attracted a good volume of buying in the past week. The wash goods trade particularly showed a de- cided spurt in activity on styles selling | between 125 and 3a cents a yard U. s. TRBASURY BALANCE. | By the Associated Press. Treasury receipts for January 25 were $84,695,845.42. Expenditures, rySES 386,- 068.60: balance. $355,488,137.56. tom duties for 25 days of $14,958,208.81. O Sy vere) —_ Iron occurs in the form of ores and | most frequently near coal fields. : Southern ‘ ain to fair, 1.74a2.00; common | General hay | The | Market irregular on every-‘ Cus- | Late Rally Led by Railway - Shares as Shorts Cover. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, January 27.—Stocks sold off in the first half of today’s mar- ket session and then recovered the loss and more in the second half. Probably most of the morning decline was the result of offerings for short account and most of the afternoon re- covery due to covering in of those short contracts. The day’s operations did | demonstrate 1aiher conclusively the strong underlying position. Stocks do not come into the market for sale on reactions. Instcad, such occasions are taken advantage of for accumulation by those who have confidence in the future. The afternoon recovery was led by the ns’il{;ay shares, e early unsettlement may have been due, in part at least, to v.my publi- cation of the list of loans by the Re- construction Flnance Corporation, un- covering situations previously only sus- pected. Perhaps it would be more accu- rate to say that the market was affected by what it feared would be the public reaction to the disclosures. The | chances are that this factor was greatly overestimated, however. Among the stocks which were es | cially sensil Canadian Paci prominent. It was the most active issue in the first hour and sold cff over a point under heavy offerings—a large percentage decline for an issu: selling | at its price level. Canadian Pacific had ‘bvcn weak in recent sessions without adequate explanations. Today it was | said that liquidation was coming from London and had some connection with the exchange situation. Possibly the statement by Premier Bennett of Can- ada about the seriousness of the rail- way problem in the Dominion generally was partly responsible also. i Other weak spots were United States Industrial Alcohol, which was said to be anticipating an unfavorable earning | statement; Loew's, affected sympatheti- cally by the Paramount-Publix receiv- ership, and the tobacco shares gener- ally. The selling in the latter was a continuation of that of the day before, accompanied by reports of price cutting on cigarettes. A good ceal of it probably was for short account. The market as a whole was not weak. The sugar stocks gave a good account of themselves. American Sugar Re- fining made a new high on the move- ment, although it did not hold the gain. The decision of the company | to purchase the entire output of a Cuban prcducer, announced the other day, was con: ed cidentally the sugar more optimistic In the rails, C‘]E’\dp("’m‘ & Ohio was well _supportad at for December conr saveral cases bett timore & Ohio, 0 a net operating income of $1.841587, against $813.328 in December of the previous year. e o PARIS BOURSE PRICES. PARIS, January 27 (#)—Three per cent rentes, 76 francs 60 centimes; 41» per_cent rentes, 92.20 Exchange on London, 86.71. The dol- lar was quoted at 25.61%; | Producing Oil Royalties Provide Attractive Monthly Incomes Write for Descriptive Beoklet A-2 Benjamin J. Mills Cnion Trust Blde. NAt. Money on Hand to Loan en First Deed of Trust 6 %o Interest Reasonable Commission and Prompt Replies to Applications JAMES F. 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