Evening Star Newspaper, February 4, 1933, Page 10

HA—10 FINANCIAL. YEIR S REVEWED DY AGENTHOXTON “Fifth District Business Condi- tioins Are Compared With 1931 and 1929. L I BY EDWARD C. STONE. _.In a most comprehensive, detailed and important summary, received here foday, Willam W. Hoxton, agent of the. Federal Reserve Bank of Rich- mond, presents a clear picture of credit, business and agricultural con- ditions in the fifth district in 1932, as compared with 1931, also with 1929, to. afford an opportunity for compari- son with a year before the depression was felt seriously. Agent Hoxton states that all the figures in 1932 ccmpare unfavorably with those for both 1931 | and 1929 .. Debits to individual accounts figures, which reflect the volume of business passing through banks, totaled 21.9 per ca less than debits in 1931 and 37.3 | per cent less than those of 1929. Com- mercial failures last year were 23 per tent more numerous than in the pre- ceding year and 36.3 per cent above those of 1929, and aggregate liabilities involved in 1932 failures were 55.5 per cent- and 119.5 per cent above those ©f 1931 and 1929, respectively. Cstton consumption in fifth district mills in 1932 was 4.1 per cent below eonsumpticn in 1931 and 20.9 per cent belaw 1929, althcugh in this activity there was marked improvement in the dast third of 1932 and more cctton was uscd. than in the last four months of the year befc Building permits is- sued in leading fifth district cities last vear declined greatly in both number andestimated valuation, and in value emounted to only 27 per cent of the 1928 total. Contracts actually awarded last year for construction work, in- cluding rural as well as city projects, totaled less than two-thirds as much as 1931 contracts and only 41 per cent ©of those awarded in 1929, Trade Greatly Handicapped. “Retail and wholesale trade in 1932 was in_ materially reduced volume in comparison with both 1931 and 1929, bt on the whole held up in the larger citfes better than might have been ex- pected in the face of widespread unem- ployment and reduced incomes. ‘Unemployment spread further in 1932, and o id wage and salary cuts by firms which were losing money, both ©f ‘these develcpments reducing con- sumer purchasing power and effecting shrinkages in numerous types of busi- ness, A’gncunure was highly unprofitablée last year, yields being low on account ¢{ unfavorable weather and financial | rcfurns small because of continued low prices for farm products. In the face of surplus crops carried over from 1931, | the reduction in yields last year were inspfficient to raise prices materially in any important line. Fortunately the farmers in the fifth disjrict made last year's crops very cheaply, which held down their losses, but at the end of the year many of them were not even able to pay taxes on their land or interest on their mort- _.gages, Mr. Hoxtcn says. = Banking Changes Seasonal . In December, business on the whole ‘eontinued at about the same levels as ia the Fall months of 1932, but was jn_less than seasonal volume in retail irade because of very bad weather dur- ing. the entire month. Department store sales last month were 21.8 per cent less than sales in December, 1931, #nd wholesale trade was also in smaller volume in the 1932 month. No espe- clally important developments occurred in banking activities between the mid- dle of December and the middle of Janury, changes in condition statements of both the Federal Reserve Bank of Richmond and regularly reporting “member banks being seasonal for the most_part. Debits to individual accounts figures doring four weeks ended January 11, 1933, showed a seasonal increase over debits in the four weeks ended Decem- her.’14, 1932, but fell 19 per cent below totals for the corresponding four weeks | ¢ridéd January 13, 1932. Empioyment showed no improvement in December, and severc weather increased the hard- ships of persons out of work. Coal production in December exceeded pro- duction in December, 1931. _Fifth district textile mills consumed less cotton in December than in No- vember, a seasonal decline due to Christmas holidays, but used more cot- tom: than in December of the preced- ing year. Cotton and tobacco prices Yose' somewhat in December, and to- ‘bacco prices were materially higher than prices a year earlier, but so much tobacco was sold last month that ‘Total money returns were less than sthose of December 31, Agent Hox- ston’s monthly review states. D. C. Bank Clearings Lower. Bank clearings in Washington for the week ending February 1 were slight- ‘ly lower than in the previous week, <although the country as a whole re- -Ecrted a gain of 62 per cent, Wash-, glon clearings totaled $15,183,000, against $16,272,000 in the previons | week, 22 per cent lower than the cor- | Teésponding week a year ago. Baltimore business picked up, char-r Ings amounting to $46,865,000, against | $45,031,000 in the week ended January 25, -off 27 per cent from a year ago. Richmond had a sharp advance, clear- lq%sxnrea(‘hing $26,236,000 for the week ending February 1, as compared with 7$20:309,000, and only 8.5 per cent under <the record a year ago. Norfolk also saw much better busi- ess. judging by the clearings report. Tha.total for the week was $2,345,000, ®gainst $1,758,000 for the previous sweek and 16.3 per cent below the com- Jparable week a vear ago. Although out- “side of the fifth district, it is interest- 4ng to note that Atlanta also reported 3much better figures, clearings being 825,300,000, in comparison with $22,- <800,000 for the previous week, down 9 “per cent from a year ago. s According to Bradstreet, New York “made a better proportionate gain than «did-most of the cities elsewhere in the <ountry. Business Stable for 20 Weeks. Ever since business rose from the ex- treme “depression low point” registered Jast Summer, the trend has been steady. the United Business Service of Boston points cut. For 20 weeks the gains and eclines in the various components of trade and industry have about balanced -out, and volumes have fluctuated in the narrow range between 45 and 47 per :cent below normal. It is the opinion *of the service that business will not de- icline below the 1932 low point. No rapid increases are expected, but the :prospects seem favorable that business :will start working out of the “depres- sion trough” slowly during 1933. 'SHIPMENTS OF RAYON © ESTABLISH NEW RECORD *By the Associated Press. :_ Shipments of rayon from the United .States established a new all-time vol- ume record in 1932, while imports of “the textile were at the lowest point “since 1918, on calculations by the Com- -meree Department. . Egfports for the year were 654,368 *pounds, valued at $429,713, an increase +of more than 100 per cent over 1931, .and compared with the previous record tvolume of 400,617 pounds valued at ~$754,055 in 1927. . Imports dropped to 164,446 mnds “valued at $113,173 in 1932, or about 1 *per cent of 1929 imports. . Mexico was the best market for «yoven. In 1932 that country took 418,- 689 pounds, or more than total ship- ments to all countries in any previous i Stock and Low. Dividend Rate. 4% Adams Express..... 6% Addressegrsph. Afr Reduction (3) Alaska Juneau(60c). Alleghany Corp. Allegheny Steel. Alifed Chem & D Amerada Corp (2)... Am Ag Chem (Del).. « Am Eank Note. . . Am Beet Suzar f. .. Am Brake Sh pf (7). Am Can 4). e Am Chain pf. . Am Chicle (13). Am Comc'l Alcoh: Am & Foreign Pwr. . Am&Forgn Pw pf(8) Am & For Pwr pf(7). % Am & For Pwr 2d pf. Am Home Prod 4.20.. Am IceCo.... E %+ Am International. Am Locomotive pf. . Am Macu&Fdy (80c). Am Mach & Met ct. Am Metal pf. Am News (1%). 7 Am Fower & Light. . Am PELUt DL A (2%). 4 Am Radfator........ i Am Safety Razor (3) AmSm&Ref....... Am Sm & Ref 6% pf. Am Sm & Ref 7% pf. Am Steel Foundry... Am Sugar (2). Am Sugar of (7) Am Sumatra Tob. Am Tel & Tel (9). Am Tobacco (5) Am Tobacco (B) (5). Am Water Works(1) Anacond» Copver. ... Anchor Cap (80c).... Arcner-Dani Armour of [l . 1033~ 55% 14% 39 5974 15% 9% Atlas Powder....... 40 Auburn Auto (d4) 5% Avation Corp (Del).. 44 Baldwin Locomot. .. 11 Baldwin Locomot pf. 8% Baltimore & Ohfo. 3% Barnsdall Corp... Beatrice Creamery.. Beatrice Crm pf (7).. Beech-Nut Pkg (3).. Belding-Hemingwi Bendix Aviation Bethlehem St Boan Alumn & Brass Bon Amia (A) (15).. Borden Co (1.60).... Borg Warner. . Pkyn Manhat Tran. . Bklvn Man Tr pf (6). Eklyn Union Gas(5) Budd Wheel Burrouzhs Bvers (A M) California Packing. . Calumet & Hecla.... 4 Canaiian racific Cannon Mills (1).... Case (J I) Co Caterpillar Trac 50c. 2 Celanese Corp. Celotex vtc. . . Cent Aguirre (1%).. Cerro de Pasco. ..... % Ches & Ohlo (2%)... Chesapeake Corp (2) Chi Great Westn pf. . Chi Mil StP & Pac... Chi Mil StP & Pac pf. Chi & Northwestern. Chi & Northwest pf.. Chi Pneu Tool pf.... Chi Rock I & Pac Chi R 1 & Pac 6% pf. Chi St Paul M & O pf. Chicasha Cotton Oil. Chrysler Corp (1)... City Stores. . Colgate-Pa . Colz-Palm-P pf (6).. 4 Collins & Atkman. Colo & South 1st pf.. 4 Columbia Gas (b1) Coluinb Gas pf A ¢ Columb Carbon (2).. Commercial Credit. . Comel Cred 1st(6%). Comel Inv Trust (2). Comel Inv Tr pf 63% . Comel Inv cv pf(e6). Comcl Solv (60c).... % Comwlth & Southn Comwlth & Sou pf(6) Consol Cigar . Consol Cgr pr pf 635, Consol Cigars pf(7). Consol Film pf...... Con<ol Gas N Y (4).. Consol Laund 50c. .. % Cnnsol Ofl Corp. Consol Textile. .. Contl Baking (B). Contl Can (2). % Contl Insur (1.20)... Cont’l Motors. . Contl O1] (Del) Corn Products (3) % Crewm of Wht(t2%) Crown Cork & Seal. . Crucible Steel pf.... Curtis Publish pf(7). 1% Curtiss-Wright..... 2% Curtiss-Wright (A). 3% Daveza Stores (60c). 45 Delaware & Hudson. 20% Del Lack & Westn. .. 67 Detroit Edison (6) 2614 Diamond Mach pf 1% 12% Dome Mines (11.30). 10% Doug Alrcraft (75¢). 33% Drug, Inc (3).....0. 34% Dupont de Nem (2).. 102 Dupont deN db pf(6) 100 Duques Lt 1st pf (5) 54 Eastman Kodak (3). 5% Eaton Mfg Co. .. . % Eitington-Schild 17% Elec Auto-L (1.20).. 53 Elec Pwr & Lt.. 14% Elec Pwr&Lt pf 2.33. 29 Eng Pub Svepf (5).. 28 EnzPSpfww(5%) 915 Equi Office Bldg 1% . 5 ErieRR.... 4% Erie R R 2d pf. 5 7% Federal Screw Wks. . 16% Fidelity-Phoen 1.20. 58 Firestone T&R pf( 51 First Nat Strs (2%). 18% Fourth Nat Inv 1.10.. 1% Fox Film (A). - 224 Freeport-Texas (2). . 41% 106 102 514 1% 188% 63% 56 20% 214 26% 4 2% Gen Am Investor: 16% Gen Am Tank Ca 13 Gen Baking (2). 2% Gen Bronze. 1% Gen Cable. Tl Gen Cable pf. 13% Gen Electric (40¢) 11% Gen Elec spee (60c).. 22% Gen Foods (2)... 1 GenGas& Blec (A).. 381 Gen Mills (3) 12 Gen Motors ( 72% Gen Motors pf ( 19% 14% 34 1% 10 16% 12 13% Gen Ry Signal (1) 1 Gen Realty & Util... 4 Gen Refractories.... 16% Gllilette Saf Ras (1). 7 Gimbel Bros. . 14 Gold Dust (1.20) 4 Goodrich (BF). 12 Goodrich (B F) v 11% Goodyear Tire&Rub. 30 Goodyear 1st pf ( 12 Gotham Silk Hosiery 1% Graham-Paige § Grand Union. 17 Grant (WT) (1) 7% Great Northern pf 7 Great West Sug. 72% Great Wn Sug pf (7). % Guantanamo Sugar.. 19% 17% Hackensack W (1) 4% 4 Hall WF) Printing.. 8 8 Harbison & Walker.. 95 87% He.cules Pow pf (7) 7 3% Holland Furnace 158% 146 Homestake Min ( 2% 2 Houdailie-He: ) 51% 50 Househd Fin pf 4.20. T% 5% Howe Sound (46¢)... 15% 14% Hudson & Man (2%). 5% 4% Hudson Motor Car. 3% 2% Hupp Motors. .. 14% 11% Illinois Central. 35% 28% Industrial Rayon (2) 31%4 23% Ingersoll-Rand(1%) T4 4% Interboro Rap Trans 97% 87% Int Bus Mach (6).... 4 2% Int Carriers Ltd 20 25% 85% 20% Int Harvester (1.20). 80 Int Harvester pf (7). 6% _. 4%.Int Hydro-Elec (A).. 3 - - s Bales— Add 00. High. 6 4% 3 P T T LT T Bommtomoommpnd e o Lrore o - o e - ST PYQUS - FORSTY ) S B 2aBernBand wnrrmm e THE EVENING STAR, WASHINGTON, D. C., SATURDAY, FEBRUARY 4, 1933 NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Net. Low. Close. Chge. % - % % + % 5% + % 1% + % 1% 6% — % 804 —24% 20% 8 10% 4 =% + % + % - % — o - % - % 63 5% 7 37% +1 IR I L I8 6 | 101% 57 51 3 17% 5l III+IIIL ¥ FEFFEFFIS +110 PR EFFEEF +1 ~Prev. 1933— Stock and High. Low. Dividend Rate, 8% Tl% Int Nickel of Can.... 4% 2% Int Paperpf........ 4% 21, Int Paper & Pwr pf.. 4% 87 I1t Printing Ink, 18% 15% Int Salt (1%). 27% 24% Int Shoe (2). 8% 5% Int Tele & Telex. 28 26 Jewel Tea Co (3) 23% 19 Johns-Manville. . 50 35 Jones& Laugh pf(1) 3% 3% Kaufmann Dept St 2 1% Kelly Spring Tire. .. % % Kelsey-Hayes Wheel 5% 4% Kelvinator Corp. 10% 8% Kennecott Copper. 10% 8% Kresge (SS) Co (1).. 18% 16'¢ Krozer Grocerv (1).. 3415 28% LambertCo (4)...... 47% 41% Lehman Corp (2.40). 18% 1714 Lehn & Fink (2)..... 62 50 Liggett & Myers(15) 63% 51% Ligg & Myers B (15). 147 12 Liquid Carbanic. . 2115 15% Loew’s, Inc (3) 5 2% Loft Inc. 23 Loose-Wiles Bis (2). 11% Lorillard (P) (1.20). 21% T.oulsville & Nash McCall Corpn (2)... MclIntyre P M(t1%) McKeesport T P (4). McKesson & Robbins McKesson & Robs pf McLellan Stores. 15'% Mack Trucks (1) 25% Macy (RH) & Co 6 Manhat Elev mod gtd 10 Marine Midld (80c).. 11% May Dept Stores (1), 4% Mid Continent Petm, 5% Midland Steel Prod. . 5% Mo Kan & Texas. .... 11% Mo Kan & Texas pf.. 4% Missouri Pacific pf 274 Monsanto Chem 1% . 12% Montzomery Ward Mullins Mfg. ... Munsingwear Inc. Murray Corp 131 Nash Motors (1) 36% Nat Biscuit (2.80). 14 Nat Dairy Prod (2).. 241 Natl Dist prpf (2%). 11% Nat Pwr & Lt (1) Nat Steel (50c) N 185 4 2% an % NYChi&StLof.... Y N H & Hartford. Y NH & Hart pf... Y Ont & Western. . N Y Shipbullding N 'Y Shipbldg pf (7). N Y Steam pf (6) . N Y Steam 1st pf(7) . Noranda Min (a1.10) Norfolk & West (8).. North Am Aviation. . Nor Amer(b10 % stk) North Amer pf (3).. Northern Pacific 6's Ohio Ol (a50c) . 10% Otis Elevator (1). 7 Otis Steel pr pf. ‘ 3315 Owens 111 Glass (2).. Pacific Gas & El (2). Pacific Lizhting (3 Packard Motor Car.. Paramount Publix Pathe Exchange..... Peerless Motor Car.. Penick & Ford (1 . Penney (J C) (1.80). Penny (J C) of (8) Penn Dixie Cmt pf. Penna RR (Ri0c). Peoples Gas Chi (5). 4 Peoria & Eastern . Pere Marquette pi Petrol Corpof Am... Phila & Read C& 1 Phillips Petroleum Pierce-Arrow pf. Pierce Petroleum. Presred Steel Car. Proctor & Gam(1%). 4 Public Sve N J(3.20) Public c D pr(8). Pullman Corp (3)... Pure Oi1 Radio Corp. 1315 Radio Corp pf (A)... 8ix Radio Corp pf B. 1% Racic-Keith-Orph. .. 6 Raybestos 314 Reminzto: 12 Rem Rand 2d pf. 1% Reo Motor Car. . 11 Republic Steel pf.... 10 Revere Cop & Brpf.. 314 Reynolds Spring. . 26'3 Reynolds Tob B (3). 19% Roval Dutch........ 39'x Safeway Stores (3).. 84% v Strs 1t (6). Tia St Joseph Lead. ..... Schuite Ret Stor pf.. Seaboard Oil Del 40e. Sears Roebuck. ... Servel Inc. .. Shattuck(FG. Shell Union Ol Socony Vacuum 40 Solv Am pf ww (5 So Port Ric Sug 1.60. Se Port Ric S pf(8).. 3 Southern Cal Ed(2). Southern Pacific. Southern Railway pf 1% Sparks-Withington. . 14% Standard Brands (1). 10% Stand Gas&El (1.20) 17 Stand Gas&El pf (4). Stand Oil Calif (2).. Stand Oil Exp pf (5). Stand Oil Kansas. Stand Oil N J (1) 3ta Stewart Warner. 71 Stone & Webster. 315 Studebaker Corp. 20 Studebaker pf. 92 Sun Oil pf (6)... Superior Oll. 3% Telautograph (1) 12% Texas Corp (1). . 22 Tex Gult Sulph (2).. 114 Tex Pacific Coal&Oil. 4% Tex Pacific Land Tr. 5% Third Avenue. . . 5% Thompson Produc 3% Tido Water Asso Of 3 21 Timken-Detroit Axle 6 4% Transamerica Corp.. 4% 3' Tri-Contl Corp. . % 7 __Twin City Rap Tr pf. 28% 247 Un Carbide & C(1.20) 77% 69% Union Pacific (6) 28% 22% Unit Alrcraft.. 18 Unit Biscuit (2). Unit Carbon. Unit Cigar Stores, Unit Corp (40c) Unit Corp pf (3)..... Unit Electric Coal... Unit Fruit (2)....... Unit Gas&Im (1.20 Unit Gas&Im pf (5 U 8 & Forn Secur U S Freight. . U S Indus Alcohol. i US Rubber 1st pf. USSmtg & Ref (1).. U S Smtg&Ref pf 3% 9 14% 2 5 1% 5% 6l Ty 315 15 % 10% 3% 4 U S Steel pf (2).. U S Tobacco pf (7) 2% Util Pwr & Lt (A) . 11% Vanadium Corp. .. 24 Van Raalte 1st pf... 20% 15 Vulcan Detinning... 61 57 Vulcan Detin pf (7). 2% 1% Wabash R R. 1 Walworth Co 1% Warn Bros Pict 8 Warren Found & P.. 1 Webster Eisenlohr. . 50 Webster-Eisenlhr pf 8% Wesson Of1 & Sn (1). 45 Wesson O&Sn pf (4). 38% West Pa Elec A (7).. 39 Waest Pa Elec pf (6). 49% West Pa Bl pf (7)... 98 West Pa Pwr pf (6). 106% West Pa Pwr pf (7) 5 Western Maryland 22 Western Union...... 11% Westing’se Air B(1). 26% Westinghouse Elec. . 60% Westinghse 1st (3%) 18 Wheeling Stee: pf. 1% White Sew Mch pf... 1% Wiilys-Overland. 20 Wilson & Co pt 31% Woolworth (2.. . 4% 3 Yellow Truck...... 13% 9% You:z!!own Sh&Tu. Bales— Add 00 Hl; ki 50s rred stock. 1% 2% 2% 4 15% 26% 6% 27% 19% 35 ki 2% .k Plis 3% tn nPlus 5% in stock. T4 Net. gh. Low. Close. Chge i e +1% ~ 1% | ter were it not for the strike in Detrot. — 1, ended January 29 showed a deccrease -1 1 +1 10% 10% 1Partly extra. Tate. -1 | Abbotts Dairies . - % +1% | Nat Cont Corp $2 -3 Conv pf ..... = . $Plus b Payable in h Plus s, | % W 2 + 1; indicated that production for the coun- L e I Pl % % 1% % % STOCKS RREGULAR | IN QUIET MARKET Leading Issues Register Low Marks for Year—Losses Are Small. BY GEORGE T. HUGHES. Special Dispatch to The Star. NEW YORK, February 4.— Heavy selling of General Motors common stock, on which dividend action is to be taken Monday, was the feature of a dull and unimpressive stock market today. ‘The new low price for the year reached in General Motors suggested to the speculative element that the present dividend of $1 a share, which is also being paid by Chrysler Motors and Nash Motors, may be reduced or even omitted next week. ‘There were also significant move- ments in other pivotal issues, such as General Electric and American Tele- | phone & Telegraph, both of which | were quoted at minimum figures for 1933, and numerous fractional changes that brought other stocks down into a lower price area. The only one of these that was directly affected by the day’s developments was Ohio Oil, whose divi- dend was omitted. Stocks started today at a lower level, with quite heavy losses for these times | in American Car, Allied Chemical and |J. I. Case. American Telephone was fractionally above par but soon dropped | below this figure, duplicating PFriday's minimum price. Consolidated Gas of New Ycrk, Public Service of New Jer- sey, Western Union. North American and Standard Gas & Electric were under moderate pressure and still influenced sentimentally by the Roosevelt an- nouncement on the Muscle Shoals | project. ' Rail stocks were affected by the heav- 1; | iness elsewhere in the list and gradually lost & considerable part of the previous % | day’s gain. The statement of car load- ings for the week ended January 28 % | showed a reduction of nearly 16 per &, | cent from the same period of 1932, com- s | pared with a loss of less than 12 per | cent a week ago. The big decrease was 14! again in high-grade merchandise | freight. 1| Stocks of the gold mining companies held stcady but did not make the con- | spicuous gains shown during other ses- | sions this week. The week end iron and steel statistics 1; | try was around 19 per cent of capacity and would have been considerably better | Sears, Roebuck sales for four weeks of about 17!, per cent compared with | 1,/ over 19 per “cent in the same period | . |of the previous year. An additional | 741 82,245,000 of gold was received today. of | | which the larger part came from India. | | There were no important movements | in the foreign exchanges. Sterling was | | slightly higher, as were francs. with | Montreal funds still quoted at a dis- ul ccunt of about 16 per cent. Washington Produce| | WHOLESALE PRICES. Butter—One-pound prints (93 score), 22; tub, 21 onec-pound prints (82 score), 22, tub, 20: one-ocund prints (91 score), 21:; tub, i9; one-pound prints (90 score), 19: tub, 18. Eges—Hennery whites, 13; current receipts, 12; Government graded ex- tras, 18; standards, 16; mediums, 14. Poultry, alive—Turkeys, young hens, | 16a18; young toms, 14al5; old toms, 8a10; young toms, over 20 pounds, 11: old hens, 10a12; chickens, Plymouth | Rock broilers, 17a18: Plymouth Rocks. 4 pounds and over, 17a18; under. 12al mixed colored chickens. 13al5; Leg- horns, 10a12; colcred hens, 12; Leg- horn hens, 8a10; hens, 4 pounds and over, 12a14; cap-ns, lorge, 17a19; small, | 15a16: keats, old, 20a25; young, 25a35; ! | roosters, 7a8. i Poultry, dressed — Turkeys, young hens, 19a21; young toms, 17a1d; old s, 11a13; old hens. 13a15; chickens, uth Rocks, 4 pounds and over, | . under. 14al5: Plymouth Rock | broilers, 20321: capons. lerge, 21a23: small, 3 Leghorns, | 14; roosters. 2 % | hens, 4 pounds ‘and over, 15a17; keats % ! young, 20230; old, 15a20. Meats—Bcef, 10; veal, 12; lamb, 14; | pork loins, 10; fresh hams, 10; smcked % | hams, 12; strip bacon, 13; lard, 7!2; ccmpound. 7. Fruits—Nectarines, 3.25; plums, 3.25: | watermelons, 1.25a2.50, apricots, 3.25: | apples, fancy box stock, 1.50a2.00; | | bushel ba:kets, 1.00a1.25; pears, 1.50a 2.50; mandarines, dozen, 40a60; cran- berries, 2.50; alligator pears, 2.50a3.00; !5 | oranges, 2.75a4.25; lemons, 4.00a4.5 % | grapafruit, 2.50a3.00; pink meats, 6.0 | bushel baskets, tangerines, 1.25a2.0 | bananas, 150a2.50; rhubarb, 5-pound boxes, 50a60: strawberries, crates, 4.00a 6.C0; Spanish melons, 6.00a7.00: honey- dews, 5.00a4.00; grapes, 2.00a3.00; pine- | apples, 5.50. Vegetables—Potatoes, Maine, 1.25a 135, New York, 115; Idaho bakers, 1.75a2.00; Florida. new. tushel, 2.00a 2.25; sweets, 50a75; turnips, 40a50; parsnips, 1.00; salsify, per dozen, bunches. 6€0; spinach, Norfolk, 50a60; Texas, 75a90; collards, 25; kale, 30a40: cabbage, new, baskets, 50a1.00; old, sacks, 65a75; string beans, 1.75a2.00; limas, 4.00; peas, 3.00a3.50; lettuce, ice- | berg, 3.253.75: peppers, 1.25a1.50; squash. 2.50a3.00; beets, 2.50a2.75; car- rots, 2.50a2.75; cauliffower, 1.50a190; | mushrooms, 60a75: broccoli, 2.00a2.50; eggplant, 2.50a3.00: asparagus, dozen bunches, Texas, 7.00a10.00; hothouse, 2.00a2.75; tomatoes, lugs, 1.25a1.50; re- | packs, 1.00a1.75. | NEW YORK B.ANK STOCKS NEW YORK, February 4 (#).—Over- the-counter market: (Quotations as of 10 o'clock.) Bid W Chase (2) ..... Commercial () Pirst National ( Manhattan ( National City Public (2) TRUST COMPANIES. Benkers’ (1) .. Brookiyn Trust (i Central Hanover (* Title Guar. & Trust *Includes extr DIVIDENDS kNNOUNCED NEW YORK, February 4 (®).— Reduced. Pe- Pay- Rate. Tiod able. 25¢ Q Mar. 1 Resumed. Hldrs. of record. Feb. 15 Company. . 50c .. Mar. Omitted. Alabama Dry Dock Shij Feb. 15 % % .50c 8 Jan. x -$1.75 Q Feb. Regular. Abotts D 1st 51.31.76 Q Mar. Do. 2d pf. 175 Q Mar. Can pf . (T S AR A Crown Ck & 8 pi cm:!bl.!flm? Sh Orig Ser Cou..30c 8 Do. Beries B Cou.10c 8 Werthan Cos 5 " FARE TR R 8 [ FINANCIAL MOST ALL OF US KNOW WHAT OUGHT TO BE DON THE QUESTION IS HOW? Horey /ore You'LL SELATE Yo YoUR. GAME OF CAECKERS WiTH JULIUS CAESAR. 1F DERTS ARE Too H1GH ~ SCALE ‘EM DOWN /¢ RAISE WAGES P & AND SALARIES AnD ) Z__ CUT LABORING HOURS AND INCREAS! PURCHASING POWER RAISE PRICES, Cut DOWN GOVERNMENT EXPENSES AND 1T WE NEED MORE. MONEY HAVE THE GOVERNMENT PRINT SOME 1., BONDED DEBT 1S 1423016930 Distribution of Interest-Bear- | ing Obligations Shown by Survey. BY CHAS. P. SHAEFFER. Associated Press Business Writer. Sixty-eight per cent of the gross debt of the United States on January 31, last, was in interest-bearing bonded indebtecness, calculations from the cur- rent daily statement indicates. Of the gross of $20,801,707.134 out- standing at the end of last month, a total of $14,230,169,320 was in interest | bearing bonds, made up principally of the First and Fourth Liberty loans, which together aggregated $8,201,309,- 150, or 39 per cent of the total in- debtedness The remainder was in Treasury bonds of eight varying series, aggre- gating $5,222,842,600, or 25 per cent of the total and various other low interest bearing bonds aggregating In this latter group were included the 2 per cent consols of 1930, three issues of Panama Canal loans, a 3 per cent conversion and some postal savings bonds. Ten issues of Treasury notes were outstanding on January 31, aggregat- ing $3,298.374,600, or 16 per cent of the whole. Eight issues of certificates out- standing amounted to $2,284,847,100, or 11 per cent of the whole, while there were 8 issues of Treasury bills, amounting to $640,717,000, or 4 per cent of the entire indebtedness, bring- ing the toal interest bearing debt to SZ&:S!,W!,OZO, or 99 per cent of the total. | The remainder consisted of small lots of bonds, notes, certificates and bills jon which the interest had ceased, amounting in all to $54.622,850, while there was also outstanding about $190,- 600,000 of United States notes which | bear no interest. The balance of the indebtedness was in deposits for re- tirement of bank notes, old demand | notes and thrift and savings stamps, etc. e TREASURY DEFICIT DROPS $241,000,000 | | Department Report Shows Govern- ment Less “in Red” February 1 | Than It Was Year Ago. | By the Associated Press. | The Treasury reached the beginning of February with a deficit of $1271- | 721,030, or about $241,000,000 less than | revealed by the latest Treasury state- ment. | What proportions this deficit will as- | sume during the remainder of the | present fiscal year is purely conjec- | tural, as receipts during the last five 17a19; mixed colcred chickens, | ¢506,017,570, or 4 per cent of the whole. | months will be based on the higher in- | come tax rates provided by the reve- | nue act enacted last year. | . ‘The trend of business during the last | half of 1932 was encouraging in many | respects, but failed to raise much en- thusiasm with respect to important zains in public receipts, which are | based on incomes for the year. | Latest Treasury figures make it ap- | pear the new administration will take | over the affairs of the land with a | public debt in the neighborhood of $21,000.000,000, or only $3,000,000.- 000 less than when President Harding took the reins in 1921, Trade Reports at a Glance By the Associated Press. NEW YORK, February 4.—Tabloid review of wholesale and retail business conditions as reported to Bradstreet’s this week from the fol- lowing centers, cn the basis of comparisons with conditions in the same areas in the corresponding week last year: Pittsburgh Chicago . Cleveland troit ... Indianapolis Milwaukee Des Moines Duluth .. Kensas City . Minneapolis . Omaha St. Louis . t. Paul Retail Trade. Quiet. Fair Quiet Quiet Fair Quiet Quiet Quiet Quiet Quiet Quiet Quiet Quiet Quiet Mfg. and Collec- Industry. tions. Quiet Fair Comment. PITTSBURGH.—Wholesale industrial coal in better demand; glass and tile very slow; buil 1932; department store trade dull lding permits for half of January 50 5 collections continue to CHICAGO.—Distribution in steel and small gains—other lines maintain recent mon !)er cent below ag. neral merchandise reveals * volume; automobile show produces fair amount of new business; rallroads making better sh in tonnage and earnings than muup-urd‘ i aae CLEVELAND.—Department mild weather; public p\?r‘chulng ;taov:r e o Wi heet 26 per cent of capacity, with Sales off, 5 ds retarded by severely curtailed; steel operations steel being the bright spot; coal DETROIT.—Continued mild weather retards sales of Winter mer- chandise; Ford Motor Co. temporarily ceases activities due to strike at Briggs plant, with unsettling effect INDIANAPOLIS.—Department promote volume; wholesale orders from hant on allied lines; building dormant. stores featuring Spring clothing to d-to-mouth: most manufac- turing plants operating on reduced schedules; collections continue to lag. MILWAUKEE.—Dairymen fail to agree on prices, discontinuance of co-operative buying probable; merchandise stocks very low, but buying conservative; pronounced inactivity in industry. DES MOINES.—Merchants’ advertising campai results; Ted produce only fair wholesale orders mainly fill-ins; farm eom‘g:dny prices further luced; gypsum mining on conservative schedule; unemployment serious. DULI ,UTH—Mining activity continues on part time: limbering stag- nant; wholesale and retail trades in doldrums; buildi permit considerably below 1932; collections hard to make. = P KANSAS CITY.—Attractively priced “sales” fail to promote volume at retail; flour mill operations 60 to 65 per cent of capacity: zinc ore sales 4,440 tons, heat in stocks through “Bes’ the largest turnover since dition. September, 1931; Western Kansas fairly well distributed; re- it stores endeavor- at low ebb; fore- closures on real estate and farms numerous. OMAHA.—Wholesale and retail trades continue on previous week’s slow pace; industrial activity at low ebb; live stock market on down- trend; unémployment 'UIS.—Shoe manufacturers increase ST. LO qutre.mmu for not very promising steady but prices low. uction to meet re- prods Bpfln;l :mmu‘a:d mm below 1932 and prospects fairly active; grocery sales ST. PAUL—Wholesale shoes, dry goods and hardware in fair de- m:“rgl.fl trade re::l-w&uwm: mm;:“war sales 10 per oen: ‘moderately acti BALTIMO! 1932; ;linh': fair demand, with prices reduces fertilizer { it was “in the red” a year ago, it was NARROW BUSINESS - PROFITS REPORTED Survey Shows Fair Activity | in Various Lines of Trede. Special Dispatch to The § NEW YORK, February 4.—Business, despite the socurity merkets, foreign | and domestic political d>velopments and | rapidly charging weather, maintained a | stride "this wiei that prmitted narrow | profits. | " Confidence. in the face of delayed plans pending the ncmirg of the Roose- velt cabinet and t dvont of the new administration, continues to grow slow- ly as many fundamental factors show improvement Reports from 55 cities throughout the country indicate that mild weather has slowed purchases of Winter goods, Nevertheless mary retail stores reported a good volume for January, thanks to the usual scasonal sales. Chicago told | of a fair movemont of retail trade. In Cleveland, where the steel industry is operatiny at 26 per cent of capacity, largely because of automobile orders, basement stores are doing a better business than upstairs departments. | Detroit Leads in Activity. Detroit, despite the strike at one of the big automobile body companies and consequent shut-down of the Ford plant, remains the busiest industrial center in this country. In San Fran- cisco the beginning of the construction of the San Francisco-Oakland bridge has becn set nearer with the passage of legislation meking the financial set-up more satisfactory to the Reconstruction Finance Corporation. Bradstreet's reports that the dried- fruit market in California is good and such stocks are being reduced, but re- tail trade remains discouraging. Whole- sale trade is slightly improved. Women'’s wear and furniture promo- tions locally have produced a moderate movement. In sharp contrast with most_other lines, there is a good de- mand for medium-priced rather than low-priced men’s clothing. “On the positive side of the business | plcture,” Bradstreet's says, “we have bank clearings rising from $4,036,000,~ 000 in the previous week to $4,284,- /000,000. On the negative side the | weekly food index at $1.49 is about one per cent under a week ago.” Spring wearing apparel is the center of attention in the wholesale markets. Commenting on this phase, Dun’s states: “Current orders reveal the popularity of jacket dresses, with waist to fingertip-length coats, and a good Tesponse has been accorded suits in :mctly m:islor’ed at;lmhlnd cape cos- umes. ew of the Spring suits have their own blouses, orders for these have been numerous, particularly in the styles featuring important sleeve treatments and adjustable high neck- lines. There has been increased ac- tivity in coats with detachable fur collars. The mannish trend in mil- linery has opened up a much stronger demand for this type of merchandise, and calls for all types of women'’s neckwear are reported to be much shead of last year's record.” Novelty Jewelry Sales. Meanwhile novelty Jjewelry, espe- cially rhinestones, is experiencing a better demand. The tailored of handbags and the plain slip-on gloves are creating use for considerable pig- skin. Although drugs and drug sun- dries are less sought than a year ago, despite their lower quotations, there continues to be a brisk call for cos- metics and toiletries. In the dry goods trade interest” just now centers around the or.enl.nx dates on the Fall 1933 wool blanket lines, which some portions of the trade favor for February 14 or 15, with others equal- ly insistent that the event be put off until March. Dollar volume of furniture buying is 15 per cent below that of a year ago, but sales are fair, with modernistic designs forming about 30 per cent of the bulk. Industries stepping up operations during the week or planning to in- cluded: Automobile and accessories, electrical goods, furniture, glass, hard- ware, crockery. pa) ery an ers are more raw materia. than a year ago. (Copyright. 1933.) U. S. TREASURY BALANCE. By the Assoclated Press. Treasury receipts for Feb: were $8,992,879.61; expenditures, 896,688.45; balance, $448,700,621.5' Customs duties for two days of Pebru- ary were §1,263,264.96.