Evening Star Newspaper, December 1, 1934, Page 12

FINANCIAL SINGE 1930 SCORED Jump of $742,132,000 Over Last Year Revealed in A. B. A. Survey. BY EDWARD C. STONE. For the first time since 1930, total savings in all American banks showed an increase in the annual compilation of the American Bankers' Association with its figures for the year ending June 30, 1934, it is brought out in a statement by W. Espey Albig, in charge of its savings division Savings deposited in banks as of June 30, 1934, gained 3.5 per cent during the past year, Mr. Albig says. ‘The aggregate is an increase over last year of $742,132,000, the first since the year which closed June 30, 1930. This is a notable achievement, for the decline since 1930 had been pre- cipitate and all-embracing. In that year savings had reached the all-time high of $28478631,000. A year ago the amount was $21,125,534,000, a loss in three years of $7.353,097,000. This year the figure stands at $21,867,666,- 000, an advance over last year, but a recession of $6,610,965,000, or 23.2 per cent, from the high mark of 1930. To find an equivalent figure it is neces- sary to go back 10 years, when the total volume of savings stood at $21,- 188,734,000, the report adds. Depositors, too, have gained in num- ber, going from 39,262,442 a year ago to 39.562,174 this year, a gain of 299,- %32. Four years ago there were 52,.- 729,432 depositors, or one depositor for each 2.3 persons in the country. Now there is one account for each 3.2 persons. Other Deposits Also Gain. The realization of a loss of over 13,000,000 depositors in the face of a population increase over the four years of 3,650,000, indicates dramati- cally the price in fear, despair, pov- erty, wrecked ambitions, loss of crea- ture comforts and cultural opportuni- ties exacted by the demoralization in business and industry during the past five years, Mr. Albig savs. The increase in individual deposits, including both savings and demand deposits, during the past year was also notable. he points out. The high point was reached in 1928. with de- posits of more than $51.000.000,000. The volume declined rapidly until a year ago, when it stood at $35,546,- 407,000. This year it again started its upward climb and reached the sum of $38,098.883.000. a gain of $2,552,- 476,000, or 7.2 per cent, over a year ago The rapid rise in individual depos- its was not reflected by the gain in savings deposits, he continues. The bulk appeared on the side of commer- cial deposits. In consequence, savings deposits comprise 57 per cent of indi- vidual deposits as against 59 per cent & year ago. Apparently the nec confronting many persons of living on their reserves prevented an in- crease in savings deposits comparable to that in individual deposits, the re- view concludes. Rail Earnings Per Share. Virginian Railway reports for 10 months ended October 31, 1934, net income of $2,797.891 after taxes and charges, equivalent after dividend re- quirements on 6 per cent preferred stock, to $4.47 a share on 312,715 shares of common stock. This com- pares with $2,348.665, or $3.04 a com- mon share, in first 10 months of 1933. Norfolk & Western Railway reports for 10 months ended October 1, 1934, net income of $16,692.517 after taxes and charges, equivalent after dividend requirements on 4 per cent preferred stock, to $11.32 a share on 1.406,483 shares of common stock. This com- pares with $18,606,079, or $1268 a common share, in first 10 months of 1933. Western Maryland Railway reporls| for 10 months ended October 31, 1934, net income of $804,322 after taxes and charges, equal to $4.53 a share on 177,420 shares of 7 per cent first pre- ferred stock on which no dividends have been paid. This compares with $682,713, or $3.85 a share, on first preferred stock in 10 months ended | October 31, 1933. Hecht Sees Lower Interest. Bankers here were much interested in the visit of President R. S. Hecht of the American Bankers’' Association to President Roosevelt at Warm Springs, to urge a definite limit on insurance of bank deposits and to ask for a new deal in bank examinations, s0 that all banks will be treated alike. His purpose in this matter is to keep banks up to a standard where there will be no failures which will have to be paid for by sound institutions. Insurance deposits up to $5,000 is the amount most commonly men- tioned when probable action by Con- gress is discussed. That figure is tem- porarily in effect now. President Hecht predicts a further decline in money rates. He told the President he had no apprehension of large withdrawals from banks, as 212 per cent on savings is more than de- positors would get from investing in Government bonds. His visit was indicative of the new co-operation between the banks and the administration which has de- veloped since the A. B. A. convention here in October. Heard in Financial District. The Lanston Monotype Machine Co. paid its regular quarterly dividend of $1 per share yesterday. Potomac Power and Washington Railway & Electric Cos. have also paid the regular divi- dends due at this time. Albert D. Graham, chairman of the First National Bank of Baltimore, is to be chairman of the committee which will redraft Maryland Banking regulations, as requested by Gov.-elect Harry W. Nice. Work will begin at once. Maryland Fund declared initial cash distribution of 15 cents, payable De- cember 15 to holders of record Novem- ber 30 and a stock distribution of 3 per cent, payable February 1 to holders of record January 15. The cash distribution covers the period from date of incorporation, June 22, 1934, through November 30. A series of amendments to the in- vestment bankers code covering itemi- zation on company reports of stock dividends received, and commissions to bankers by stock-selling syndicates, have been submitted 'to N. R. A. for approval. The Recovery Administra- tion announced any objections to the proposed code clauses will be heard until December 17. ‘Washington Gas Net Higher. ‘The monthly report of the Washing- ton Gas Light Co., filed with the Pub- lic Utilities Commission this morning, shows net operating revenue for the month of October of $105842, com- pared with $100,003 for Octobes, last year, an increase of $5,839. Operating revenues for October, $478,564, compare with $448,039 for October a year ago, an increase of $30.525. Operating expenses, includ- ing taxes and uncollectible bills, m-l creased $24,686, this year’s figure be- 4ng $372.722, against $348,036 in Oc- tober, 1933, Previous — 1034 -~ High. 11% 347 1% 9% 113 23% 5% 16% Stocks and Low. Btocks and dividen 6 Adams Express 16 Adams Millis (2)... 6% Addressograph. .. .. 4% Affiliated Prod(60c) 91% Air Reduct'n t4 16% Alaska Jun (1. 11 Alleghany Corp 5% Alleg Cp pf $30 ww, 4 115% Allied Chem (6) . 10% Allis-Chalmers. 39 Amerada Corp (2).. 11% Am Bank Note..... 40 Am Bank Nte pf (3) 191% Am Brake Shoe 80c. 90% Am Can (15)......0 12 Am Car & Foundry. 2 32 Am Car & Found pf., 384, 22% 27 124 29% 17% 28% % 51 1031y 125 26% 2 24 125% 89 13 28% 27% 17 833, o 178 415 Am Chain. 20% Am Comel Alcoho! 461 Am Crystal Sug pf.’ 1% Am 413 Am & Foreign Pw 11 Am & For Pw pf (6) ‘Am Home Prod 2.40. Am IceCo..... Am Ice pf (6)... Am International ‘Am La France (K) .o 14% Am Locomotive. ..o 12% Am Mch & Fdy (1). 13% Am Metals. . - 315 Am Power & Light. 11% Am P&L $6 pf (1%2) 10 Am Radiator....... 13% Am Rolling Mills... 26% 214 Am Seating. ... 30% Am Smelt & Ref. T1% Am Sm&Ref 6% pf. 100 Am Sm&Ref pf (7). 10% Am Steel Foundry .. 46 AmSugar (2).. 13% Am Sum Tob (i11%) 100% Am Tel & Tel (9)... 67 Am Tobacco B (5).s 3 Am Type F 7% Am Type Fdrs 123 Am Water Wk 7 Am Woolen.. 36 Am Wool pf (} 3% Am Zinc & Lead. 10 Anaconda Coppe 134 Anchor Cap (60¢) Anchor Cap pf (6! Archer-Dan (1 mour of 11linois Atlantic Coast Lin; 1 Gulf & W Ind Atlantic Ref (1). Atlas Powder pf (6) Auburn Auto. ichols. 415 Baldwin Loco.. .. 13y Baltimore & Ohio. . 16 Baltimore & Ohio pf 35!y Bang & Arros (2 95' Bang & Arros pf (7) 21, Rarker Brothe 164 Barker Brothers pf. 57x Barnsdall Corp 10% Beatrice Creamer 58 Beech-Nut P (137, 24 Beneficial Loan 1 241x Bethlehem Steel. 17 ale (40¢). 6% Boeinz Aeroplane. . 441y Bohn Alumn& Br(3) 76 Bon Ami (A) (13).. 197 Borden Co (1.60) . 16} Borg Warner(i11g) 12 Briggs Mfg (11%).. 26 Bristol-Myers 12.40 821 Bklyn-Man T pf (6) 50 Bklyn Union Gas(3) 5 Budd (EG) Mfg. .. 16 Budd (EG) Mfs pf. 101 Burr Add M (n765¢) % Bush Terminal (k). 51 Bush Tr Bldg pf ct. 13% Byers (A M) —_— 45 115 57 1844 101 9% 21 52 128 10% 24% 284% 14% 2% 2% 121 61 % 31 35% 254 86 €9% 25 1 22 27% 17% 63 50% 19% 18% California Pkg(11z) 14 Callahan Zinc 121 Canada Dry G A (1) 10% Canadian Pacific. .. 2845 Canunon Mills (2) 5% Capital Admin (A)s 8, Case (J1)Co . 23 Caterpillar Tr 174 Celanese Corp. 1 Celotex vte (K) 613 Celutex Co pt (k) 19% Cent Aguire (172).. (flnu‘ RRof NJ.. 3% Certain-teed Prod. 3915 Ches & Ohio (2.80) .'fl; Chi M)l S 4'¢ Chi & Northwestern 814 Chi & Northwest pf. 194 Chickasha CO (2).. 29Y Chrysler Corp f134. 17% City Ice & Fuel (2). City Iee & F pf 63 A City Stores ctfs.... 247 Cluett-Peabody (1). 95 Cluett-Peab’ 5014 Coca-Cola ( 9%, Cole €8'3 Colg- l'alm-l’ hf (6). 10 Collins & Aikman. 3% Colo Fuel & Irm\lk) 11 Colo & Sou c 674 Col Gas & Elec. 211 Colum Pic vte(m1). 58 Colum Carbon(3.40) 18% Comel Credit (2)... 38 Comel Credit(A)(3) 9115 Comel C 1st pf(632) 24 Comcl Credit(B)(2) 35% Comcl Inv Tr(t21z) 153% Comcl Solv (60c)... 1 Comwlth & South.. 213 Comw!th & S pf (6). 22 (‘n)‘nn]c\xm Y% Congre 10% Consol Film pE (37 21% Consol Gas N Y (2). 80 Consol Gas pf (5 7% Consol Oil (h#2c) 1% Consol Textile. 614 Container Corp (A). 2% Container Corp (B). 5% Contl Banking(A). 563, Contl Can (2.40). 6 Contl Diamond Fib. 23% Contl Insur (1.20).. % Contl Motors. 15% Contl O Del (h. Dc).. 3% Coty Inc 28 Cream of Wheat(2 ]. 8 Crosley Radio...... 18% Crown Cork & S (1). 3% Crown-Zellerback. . 44 Crucible Steel pf 37 Cudahy Pkg ( 13% Curtis-Publishing.. 43 Curtis Pub pf (j6) .. 2 Curtiss Wright.... 5% Curtiss Wright (A) 1) Cutler Hammer-.... 1014 Deere & Co. lOv. Deere & Co pf (10c). Delaware & Hudson Del Lack & West Devoe & R (A) (1 Diamond Match (1), Dome Mines (13%). Dominion Strs(1.20) 14% Douglas Aireraft... 80 Dupontde N (i3%). stern Roll Mills. astman Kodak (4) 15 Electric Auto Lite. 80 Elec Auto Lite pf 7. 3 Electric Boat. 4y E1&Mus Ind(hide). lec Pwr & Light. .. 6% Elec Pwr&Lt $7 pf. 34 Elec Stor Bat (24). 120 Endicott-John pf(7) 5 Equit Office Bld. 9% ErieR R 14% Erie R R 1st pf 7 Eureka Vac Cl(50c). 9 Evans Auto Prod 1 FairbanksCo...... 3% Fairbanks Co pf. 30 Fairbanks-Mrs pf., 2% Fed Motor Truck 20 Fed'd D Stores (1), 23% Fid Ph F In (1.20). 134 Firestone (40c) 71 Firestone pf A(6). 54% First Nat Strs(2%). 15" Florsheim Shoe (A) 10% Food Machinery.. 813 Foster-Wheeler.... 17% Fourth N Inv(h85¢c) 8% Fox Film (A)...... 20 Franklin Simon pf.. 21% Freeport-Texas (2). 5 FullerCo2dpf...c.a Sales— Hln: uv uou Close. l Sth ll% 2 84 8w 4 6% 64 6113 112 9 17T% 17% '3... an SRrwourasr~unanmSice=on o e -8 I e L Ty o - 3 o o S w Sav e - = o 13 aSasmmbie s BB D e ©aneeeanms 3 Soe &3 2 10- Previous Net High. 20 114 43% 28% oF 4 v treretd FEFFEE2 Illl+|l+ +41 4 FIEFETIE FEFE ES 1+ 441 16% 57 66% T B I R N N ) F OFELFLIEITE FE EF ¥ 654 33% FIE FFE ® 3 448 22% 120 21 6214 19% FEE FEFELE IR 32 T ¥ L4+ EREF A+t 44+ 21% 85 60 5 4% 34% 61% 35% 444 16% 31 | ++ FUL L+ 4 SIS R R & 14+ $e £F £ 111 ++ 187 By + | - +1 36% 16% 7 27% 19% R 25 45 9 Lo I1++4+10 EEFFR EFFP S8 5 & FFEEF 23% 37 34 R5% 116 8% - 5% &8 ER EEREeS Vbt I+ Yt e 43 ~ 1934 -— Stocks and Low. 814 Gamewell Co....... 5% Gen Am Investors. . 30 Gen Am Trans(1%). 12 Gen Asphalt b Gen Bronze. 2 Gen Cable. 97 Gen Cigar pf (7) . 16% Gen Electric (60c). 11% Gen Elec Spe (60c), 28 Gen Foods (1.80)... % Gen Gas & El (A).., 50 Gen Ital Ed (h3.39). 51 Gen Mills (3).. . 24% Gen Motors (1 89% Gen Motors pf (5).. 10% Gen Print Ink(170c) 23%4Gen Ry Signal (1)., 1 Gen Realty & Util.. 10 Gen Realty&Util pf. 10% Gen Refractories. .. 10 Gen Refracctfs.... 8% Gillett Saf Raz (1). 47 Gillette Saf R pf( ) 2% Gimbel Bros. 15% Glidden Co (11. 1») . 3% Gobel (Adolf) 16 Gold Dust (1 8 Goodrich (B F) 35% Goodrich (BF) pf.. 18% Goodyear T & Rub. 64 Goodyear $7 pf (4) 3% Gotham Silk Hose. .. 1% Graham-Paige. 4 Grand Union. 28 Grant (WT) (1) 12% Great Northern pf.. 815 Grt Nor Oreg(h50c) 25 Grt West Sug(2.40). T4 GuantanamoSug pf. 27 Hack W pf A (1%) 315 Hahn Dept S 26% Hahn Dpt 3% Hamilton Watch. .. 25 Hamilton Waitch pf, ¥4 Hanna (M A) pf (7) 13 Hat Corp (A). 19% Hat Corp pt 1' Hayes Body T4 Hazel Atlas 59 Hercules P'w ( 111 Hercul 83 Hershey C pf (15) 4% Holland Furnace. . 11 Houd-Hersh A j2 :% Houdaille-Hersh B. 85's Howe Sound (3) 413 Hudson Manhattan, 9 Hudson& Manhat pf 64 Hudson Motor Car.., 1% Hupp Motors. ...... 13% Illinois Central 22 1llinois Central pf., 19% Indus Rayon (1.68), 4913 Ingersoll-Rand (1), 28 Inspiration Copper. 234 Insur-Sh et Md(10c) 2% Intercontl Rubber. 4 Interlake Iron. Int Agriculture Int Bus Mach (p6 414 Int-Carriers Ltd 18% Int Cement (h25 23% Int Harvester (60c) 2% Int Hydro Elec (A), 21 Int Nick Can (60c). 2 Int Paper & Pw (A). s Int Paper & Pw (C). 815 Int Paper & Pw pf.. 38 Int Shoe (2 Tig Int Tel & Tel. 34 Interstate Dept 33 Jewel Tea (131:) 39 Johns-Manville. . 45 Jones&Laugh 7 .pf 13% Kavser (J)&Co hioc 2% Kelsey-Hayes (B) 11% Kelvinator (170c).. 65'% Kendall pf (16.9 16 Kennecott (h45c). 18!3 Kinney (G R) pf... 13% Kresge (SS) (1) 101 Kresge (S S)pf(7) 36 Kress (SH)(f1)... 23% Kroger Gr&Bk 1.60. as St L 224 Lambert Co (3) 2'% Lehigh Valley (‘onl 5 Lehigh Val Coal pf. 9t Lehigh Valley R R.. 64% Lehman Corp (2.40) 2214 Lib O-Ford G1(1.20) 17% Life Saver (1.60) 73 Ligg & Maers (13) T4%4 Lige & Myers B(15) 16'% Liquid Carb (11%). 20% Loew's Inc (1).. 1% Loft Inc 334% Loose-W . 15% Lorillard P (12. 102 Lorillard (P) pf 11) 13 Louisv G&E(A)1!:. 37% Louisv & Nash (h3) 8% Ludlum Steel...... 24 McCall Corp (2).... 1% McCrory Strs A (K). 1% McCro; rs B (k). 4 McGraw Hill Pub. . 38's Mcintyre Porcu (2) 4% McKesson & Rob. .. 11% McKesson & Rob pf 1 McLellan Stores (k) Mack Truck (1) 5% Macy (R H)& Co(2) Madison Sq Garden. Mallison & Co...... 1 Marancha Corp. ... 5 Marine Midld (4 Marlin-Rockwell (2) 231% Mathieson Alk(11:) 30 May Dept Str (1.60). 4% Maytag Co.... 26 Melville Shoe (2) 3% Mengel Co.... 20% Mesta Mch (1 21 M-G-M Pic pf(1.89), 3 Miami Copper..... 9% Mid-Cont Ict(ha"r) 6l Midland Steel Prod. 44 MId St P 1st pf (4). 36 Minn-Hon 3). 1% Minn Moline Pow 4% Mo Kan & Texa 13% Mo Kan & Texas pf. 39 Monsanto C (f1%). 20 Montgomery Ward. 16% Motor Products.... 6% Motor Wheel. 3% Murray Corp. 14" Myer(F E)&Co 1.60. 12% Nash Motors (1)... 19% Nash Chat & StL.. 3% Nat Acme Co. 5% Nat Aviation. 3% Nat Bellas H pf (k) 25% Nat Biscuit (2) 12 Nat Cash Reg A Soc 13 Nat Dairy Prod 1.20 16 Nat Distillers 6% Nat Pwr & Lt (80c). 341z Nat Steel (1) . 331 Nat Supply pf. 9 Nat Tea (60c). 6% Neisner Brothers 92 Newberry (JJ)pf(7) 5% Newport Industries 11% N Y Air Brake. . 18% New York Central. 9 X Y Chicago & St L. N\ Y C&StLpf. % N Y Investors (k).. T% N Y N H & Hartford H&HDpf.... Y Shipbldg (40¢). 72 N Y Shipbldg pf(7). 30% Noranda Mines (h2) 161 Norfolk & W (10). 2% North Am Aviation. North Amer (1).. orth Am Co pf 13) orth Am Ed pf (6). 141 Northern Pacific 8% Ohio Oil (h45c). 2 Oliver Farm Equip. 9 Oliver F Eqpr pf A. 13% Otis Elevator (60c). 3% Otis Steel. . .. 9 Otis Steel pr pf 32% Outlet Co (12%) 60 Owens-Ill Glass (4). 12% PacificG& E (1%). 20% Pacific Lighting (3). 19% Pacific Mills (h50c). T0% Pacific Tel & Tel (6) 103 Pacific T & T pf (6). §% Pac W'n Oil (h40c). 2% Packard Motor..... 1% Par-Publix ctfs(k). 2% Park Utah.... 44% 651% Penny J C (12.20 2% Penn Dixie Cement, - 20% Penn RR (h1)..... 1% Pere Marquette pfoe Sales— Stocks and dividends. Net )l!llh Low. Close. Close. " CurBurunrSrcanantnsam=ts - > 3 s @ i © 9 e R e (=W D T a1 G0 g e e b T e e 2 ¥ e T TR @ 0 e D R e S S St i 1D - e 1308 2 1 1008 2z 4 6 1 108 508 2 10 1 3 3 bl 2 4 2 9 1 0] 3 “ 120 20% 10 % 281 17% 6% 314 12% 34% 59 10 + % 10 12% + 35 % 594 + 60% + 33% “ 106% + 238, 19% 1% F FES FEFEEE rrEFEFIESL Al A+ Lot +2% 4% 15% + % 23% — % Previous — 1934 — 8tocks and Sales— High. Low. _ Stocks and dividends, 5115 18 Pere Marquet pr pf. 13% Phelps Dodge(hic) 6 24Y% Phila Co $6 pf (3).. 10 2 Phila Rapid Transit 20s 11% Philip Morris (1)... 7 13% Phillips Petrol (1) % Pierce-Arrow (k) % Pierce Petroleum 18% Pillsbury Flour1.60, T70% Pirelli Co(A) (h41) 4% Pitts Screw & Bolt.. 1's Pitts United Corp 1% Pittston Co. . 8 Plymouth Oil g75c. 6 Poor & Co (B). 10% Postal Tel & Ca pf.. 1% Pressed Stl Car (k). 33% Proc & Gamh 11.70. 35% Pullman Inc (3). 6% Pure Oil 8% Purity Bakeries Oy 41% Radio Corporation. . 23% Radio Corp pf (A). 15 Radio Corp pf (B).. 1% Radio-Keith-Or (k) 35% Reading 6 Remington-Rand. .. 32% Remington-R 1st pf 30 Rem Rand 2d pf.... 2 Reo Motor Car..... 10% Republic Steel. 3315 Republic Steel pf... 1613 Reynolds Metals(1) 39% Reynolds Tob B (3). 30 Royal D(h1.353-10) 384 Safeway Stores (3). y Strs pl (6) ph L (h3oc). ec Nat Inv pf (J Servel Inc Spiegel-M tand Brands (1) and Brands pf tand Gas & b tand Oil of Cal (1), tand Oil of Ind (1) nd 01l NJ(71%) Stone & Webster Studebaker (k) Studebaker pf (k). Superior Oil. Superior § & Symington. . Symington (A) Thompson Prodiicts 1% Thompson Starrett. 8 Tide Water Asso. .. 80 Tide Wat Oil pf (5). High. 31 14% Previous ~—~ 1934 — High. Low. Net Low. Close. Close. 9% 81 +1% 4% 4% + % 30 30% + % A B% = % 29% 39% — N 158 % % 34Y% 6% 4% Transu 33 36 Und-El 15% Un Tanl 84 United 3% United 21Y% Unit Bi. 35 United 2% United 24% United 9% United 3% United 69 United 11% Unit G 4 Unit Pi 30% Unit Pi FEEFEE IV T Ru S Rul 96% U S Sm 29% United 2% United 40% Univ L Va-Car Vulcan Warne; Warren West I" Western Dairy pf B Western Union . +1 Westin ! West Wheeli Wilson Wilson Wilson Woolw 4 Wortht 2 Worth Worth Wright 5415 Wrigle d4 0t Young 338, 594 34 Y'gstn 4% 1% Zenith Btocks and Stocks and dividends, mn Low. Close. Close. 3% Timken-Detroit. 67 24 Timken R B (f1 5% Transamerica h25c. 3% Tr1-Contl Corp..... Trico Prod (2%2) .+ 1% Truax-Traer Coal.. Truscon Steel. .. 6 TwinCity RTpf... 35% Un Carbide & C 1.40, 13% Un Oil of Calif (1). 90 Union Pacific (6)... lli‘ S Distributing... & For'n Secur. , Gypsum (t1%), Indus Alcohol. . S Pipe & F ( 'S Realty & lmpr 67% U S Steel pf : 167% Unv Pictures 1st pf 13 Util Pwr & Lt (A).. Waldorf 173 Walgreen 841 Walgreen pt (67 Ward Baking (A).. Ward Baking pf (2) Warner Bros Iic... Warren F & P (1), White Rock M S 12% Youngstown $& FINANCIAL. Sales— Net 30 4 83 13 6 6% + 33% - % - W i 6 e & Willilams 6% 1-Fisher (2), k Car (1.20). Alfreraft. ... Alr Lines&T seuit(1.60)., Carb 40 Corporation. Corp pf (3).. Drug s Zlec Coal. .. Frujt (3).. Imp (1.20) ece Dye Wks ece D W pf.. 1++1 01 FFSFEEE FFFEEF 14+ 50¢) .. bber. bber 15t pf . » elt & R (h9). States Steel, LI+ +01+10 Stores (A).. eaf Tob (13) Chemical. .. Chem 6% pf Detin (h ystem... 0 (m1).. )e r Bros Pic pf 1 Bros ennPw pf(6) :h'se AF h'se 1s nz Steel, ..., & Co.. & Co (A) | regular. 1| definite trend, although United Statc: & Co pf (j7) orth (2.40).. ngton Pump. Pumppf A.. 1300s 3 Pump pf B.. 2z Acro 408 ¥ (W jr)73 2 bgod | - 3% ck Spa& W 19 45 S&T pfAsly Radio 2 215 Sales of Stocks on the New York Exchange. 11:00 A.M. dend rates a based on ut of trading “iin stock. a Paid stock. - g Plus 4 n derds paid this year | or being reol ! stock p Plu: n anized. m Plu: in + 200,000 Noon s given in the ahove tabl the latest quarter. 2:06 - 410,000 are the ann 3 Plus s Accumuiated umulate 1 PlusS1 in special preferred ACfllemr\ reported in receivership stock. nPlus 3% in x Ex dividend, Iess than 100 shares t Partly extr last vear—no regular rate. a; stock. h Paid this_vear. cash or stock stock. By the Associated Press. | NEW YORK, December 1.—Cotton futures opened barely steady, 2 higher to 1 lower, with trade buying offset by local and foreign selling. December, 12.52; January, 12.58; March, 1264; | May, 12.64; July, 12.5 October, 12.26. Trading was quiet at the start. Present crop positions were relatively | steady on trade and local buying. | There was some liquidation in October. | Traders evidently found no fresh market factors of sufficient importance to warrant a more aggressive position. | Business continued slow after the call, | with the market holding fairly steady | within a point or two either way of yesterday's closing quotations. ‘ Southern selling was light, but there | was a little liquidation through houses with continental and Japancse con- nections. Liverpool cables reported a quiet, narrow market with some local buying on the better showing of Egyptian cotton and a little demand from the trade, supplied by hedge selling and week end liquidation. Cotton on shipboard awaiting clear- | ance at the end of the week was esti- mated at'127,000 bales against 186,000 last year. Futures closed steady. H 2a5 lower. December .., January Cottonseed Oil. Blcachable cottonseed oil futures | closed strong: spot usquoted: Decem- | ber, 9.90b; January, 9.98b; February, 10.00b; March, 10.10; April, 10.10b; May, 10.19b; June, 10.20b. Sales, 52 contracts. b—Bid. Liverpool Quotations. LIVERPOOL. December 1 _(.—Cotton. | 5.000 bales. American nil. spot in better gemand mproved business” done: prices dling ddling. ' 6.85 low_midaling. Z00d Ordinars 2 o strick ! i Futures RAIL BALANCE GPOWS. NEW YORK, December 1 (£).—The October report of International Rail- | ways of Central America shows a| balance of $57,356, compared with $35,800 in the same month last year. CHICAGO LIVE STOCK. CHICAGO. December 1 ().—Hogs 6500 Theniding. direct: ' market about’ steady 3 ne 20 heavy weiziits. choice. 6.00al 4.50); &00d . good and medium aushter pigs. g00d 50 bl Commercial; calves. | all “commercia mpared with | Friday of last week. a nmer sharp sup- | ply abatement and slizhtly lmpreved tone in dressed beef market helped the 1 cattle “trader practically all grades and classes sold ' higher anksgiving markets. but el hty Steers sagged back at the week end. closing steady. Light and long vearlings. however. finished the week higher. in instances more: around ) loads of show rejects sold with light kmds and yearlinas in broadest demand: weighty steers. Do re 'S, Mght. ight ferings. 0080 00} all heifers. strong “to 35 higher: cows and bulls steady. and | up: load lot top fed yelr]ml( ‘mixed show rejects up to | 1.500. For week ending Friday 5 doubles from uedma |stations R.100 directs; compared F: it week: lambs closing 23 huher h:vml ost_part | 9f garly pain: tronz to 25 hish feeding treme top slaughter la mld lnlr!l\(ly b! hlrpeu and ‘small - aay: ‘late " top .10 fevests: "Slosine. bulk 100, Bht 00a25: clipped lambs. 6.50a r yearlings. | Corporate Trust inside bulk. buuufiowg + 3.50a75, slaug: 1k whi DOLLAR GOES HIGHER IN LONDON DEALINGS | By the Associated Press. LONDON, December 1.—The United | States dollar gained !, cent to the pound today, closing at 4.977-16 to the pound as compared with yester- day's close of 4.9711-16. The open- ing was at 4.97%. The French franc closed at | terday’s final figure of 75.70. The price of bar gold improved 1 penny to 139 shillings, 9': pence ($34.80), and an amount valued at £73,000 ($363448.75) was purchased. PARIS, December 1 (). —Three per cent rentes, 77 francs 7 centimes; 4! per cent rentes, 91.121; Exchange on London, 75.48. dollar was quoted at 15.167%. FEDERAL LAND BANKS NEW YORK. D: Lana Bank oconds: The ember 1 (# —Federal | Bld. Asked. | 10itg % 11 months, however, is the smallest for 1003y 1oua INVESTMENT TRUSTS NEW YORK. December 1 Sccuriiy Dealers’ Asso Cumu ative T Corporate Trust sh.. | Gorporate Trust A A Corp Tr A A m £ Accum’ Ser. Corp Tr Accum Ser mod. Depos Bk Sh N A Depos Ins it - D.versified Tr C. Dividend Shrs. Five Year Fixed Tr. North Am Bond Nor Am Tr Shares Nor Am Tr Sh 1! | Nor Am T: Sh | Nor Am Tr Selected Cumul 8¢ Select=d Income Si.. Spencer Trask Fund Stand Uil Inc Super of Am Tr A Super of Am Tr AA. Super of Am Tr B.. . Super of Am Tr*BB. Super of Am Tl' C. Super of Am | Trusteed N w | Trusteed nvm'mr i | Trusteed Am BE B INSURANCE STOCKS Drecmber 1 . _New Yotk Now YORK. Deccrber = A Am Surety () g:u Amer .. ston (1 Conn Gen mfc‘( §0) D (1Y Sprinzfield (41 Sun Life Travelers (i6) U S Fire (*L70) Westchester for tas ¢ | 7546 | to the pound, as compared to yes- | | .. BUTTER—One-| -pound prints (92 score). S0a41: " tub. 2Huio. ound prints a6 Score). 208ii0: tub. 2 : 1-pound prints (N score). 2Na29: tub, MEATS — Beef. 9211 lambs, 14al5: pork . 17alx e veal 1ia1 smoked lard. 123,13 10a17; fresh strip “compouna, | GAME—Rabbits. per dozen. 1.80a2 40 Prices by the United Statés Bureau of Acricultural Economics EGGS—Market _generally weak and | prices mosily 1 to = cents lower. Current 29230: hennery whites. 34a36. graded and dated white eggs. 36a30; U. S, extras, me- 25: U Government-graded and. dated brown eses: O 8 exiras | large. 35, 1 POULTRY—Market very auiet. s light and prices unchanged. Foul : me . (Shickens: zes. 17a18: mixe L Loghora™ Ao Spring Hiymonth Rocks, 1o . VOLUME TOPS 300 MILLIONS. NEW YORK. December 1.—Turn- D\(‘r on the New York Stock Exchange | for the year has crossed the 300,000,- 000-share mark. The volume for the colors. brolers: a comparable period since 1924. It | contrasts, moreover, with a volume of | more than a billion shares traded Up s to the end of November, 1929. U. S. TREASURY POSITION. By the Associated Press. . The position of the Treasury November ) . 34 b receipts’ for’ | ar (since July | ditures, o ze of upmduu.es Rt i | SssetaP N * Receipts rer November narable date I expenditures. S1.106, 818, the mont Recelpiy tor the i 131.67: expend (including % expe 57; net balance, loms receipts for 85 of em;rzrncy expenditures, 518071 Foia assets, ST FOREIGN EXCHANGES. NEW YORK. December 1 (). —Foreisn | exchange irregular: Great Britain in dol- | | lars. s at Britain, de-' nghi 03 Mexico City sityer, b Montreal in New York. 102.43 New York in Montreal. 97 “Nominal NEW YORK BANK STOCKS NEW YORK. December 1 (.—New York Security Dealers” Association: Bid, BT Asked. Bank of Manh () ) *Including extras. We Will Make First Trust Construction Loans on Residential Properti Prompt Action on Avplication Real Estate Mortgage and Guaranty Corporation 1610 K St. N.W. | tinue” their rise today. STOCK LIST STEADY ATWEEK'S CLOSE Some Alcohol, Amusement, Rails and Specialties Are in Demand. BY VICTOR EUBAN! Associated Press Pinancial Writer. NEW YORK, December 1.—The stock market moved over into Decem= ber today without displaying any notable strength or weakness. Some of the alcohols and amusement issues were in moderate demand, as were a few of the rails and specialties. The close was steady. Transfers approxi- mated 440,000 shares. The firmness of various theatrical equities was generally attributed to improved attendance which usually appears at this time of year. Better business for the distilleries, which is supposed to accompany the holidays, drew attention to this group. Several of the rails showed a mild- ly better tone as gossip was heard in Wall Street of a plan being discussed by the administration for co-ordina- tion of the transportation industry as a means of aiding the harrassed car- riers. Rye was the bellwether of the grains at Chicago, shorts in this cerezl bidding the price up more than 3 cents a bushel. Wheat and corn also advanced a cent or more in fairly brisk trading. Cotton was not dis- posed to move far in either direction. Other commcodities were a trifle ir- Bonds were without anv Government securities were easier Sterling sagzed in foreign exchang dealings, but the gold currencies wriz somewhat higher. Shares of Loew's and Radio pre ferred B got up fractionally to n hi . Similar gains were 3 an Commercial Alco- hol, National Distillers, United States Industrial Alcohol, Santa Fe. Penn- sylvania and McKesson & Robbins preferred Warner Bros. preferred, a 10-share trading unit. advanced nearly 6 points. United States Steel lost 2 points on a few transfers. Other holding to a small fractional range, included United States Steel common Bethlehem, General Electric, United Aircraft, Lorillard, Liggett & Myers B, American Tobacco B, Consolidated Gas, American Telephone, Pubiir —~ 1| Service of New Jersey, General Mn- 4113 | tors, Chrysler, American Can, Mon: +1%, | gomery Ward, Socony Vacuum and Standard Oil of New Jersey, GOLD STATEMENT. NEW YORK, December 1 (P).—T New York Federal Reserve Bank 1 i ported gold arrivals yesterday as fo lows: From France, $8.437,700: Ind $1,757,100; Canada. $1,676,800; Er land, $1,101,400. There were no r ports and carmarked gold remai: unchanged. SPOT SUGAR DORMANT. NEW YORK, December 1 (#).—T: last week was a blank as far as sp transactions in the spot sugar mark were concerned. B. W. Dyer & C sugar economists, report not a sing spot sale was recorded. NEW YORK BAR SILVER NEW YORK, December 1 (#).- silver steady, unchanged at 55. CHICAGO PBODUCE. CHICAGO. Deccember 2.30:3; steady. C: score), - 574a nt receipts. 2 firsts. 21'4: standards. 21%; No_egs sales Poultry—Live. nine ens. 4'3 pounds up! pounds. 11: Lechorn Springs, 14a10."colored & ;. 10 i7: old 412 pounds up. extras, trucks: steady 15120 unde Sta 37: " dull. sup- <“Moderate: demand and |Faging siow: Visconsin round whites, U. S. No, 1. K04 Idaho russets. U. §. No. 1. 1.50a1.60 mbination_grade. - NEW YORK PRODUCE. NEW YORK. December 1 (¥ —Butter, 10.063: steady’ Prices unchanged. 147, slow and unchanged ds. 1" other mixed colors unchAnSc FOREIGN MARKETS, By the Associated Press. PARIS. December 1._—Premier val's speech -~ regarding Prance's forei~ Policy Relbed prices on the Bourse to ¢ rentes and inds trial shares showing gains. The closin rm "BERLIN —Prices on the Boerse improved generally today. dye shares especially ad- vancing _ The closing was higher. LONDON . —Closed. dirties Market Averages By the Associated Press. 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