Evening Star Newspaper, December 3, 1934, Page 18

A—18 ¥x# FINANCIAL. THE EVENING STAR, WASHINGTON, D. C., MONDAY, DECEMBER 3, 1934 FINANCIAL. BANKERS 70 PUSH | ADVERTISING PLAN Previovs 2:30 p.m. — 1034 — Stocksand Sales— Net High. Low. Dividend Rate. Add 00. High. luw. cxrsu:hn. 111 89 Abram Straus pf(7) uu 10 Lo 110 z 11% 6 Adams Express.... T TH TH+ W Better Public Understand-| s:« 704 Adams Expt (). 10- 8t szh 8+ % 11% 6% Addressograp! 2 H 9% 4% Afliliated Prod(60c) 50 Gh 5% 696 W Ing Sought—FIemlng Is 113 91% Air Reduct'n t4%.. 4 111% 111% 111k —1% C itt I 8% 1% Airway Elec Appli 3 1% 1 - on Committee. 287 16% Alaska Jun (1120). 4 17% 17% 17% + % 5% 1% Alleghany Cor 4 1% 1% 1% - 3% | 160% 115% Allied Chem (6 2 136% 136 136 2 - 130 122% Allied Chem pf (7). 2129 mm 129 BY EDWARD C. STONE. 23% 10% Allis-Chalmers...., 8 15% 15 —% lans timulating wider use of | 20% 11i5 Alpha Port Cement.. 2 16% nm 16% — 3 P for s g e o e o 8 informative newspaper advertising by | pive gat AmalLrather.o .. 1 Shogn 2% banks in promoting public under-! 43 25% Am Ag Chem Del(z) 2 45% 45% 4b% - % " 4 N A b e 4Tk — o existing banking conditions and| 355 1913 Am Brake Shoe80c. 1 24% 24% 24% + % methods were announced today by| 114 96 Am BrakeShpf(7) 30s113 113 113 — % 8 107% 90% Am Can (15).... 9 106% 104% 104% —1% B S e e e a| 33 12 AmCar&Foindry.. 3 18 1% 1% —% SUKErs ABSOCIATION, SRS & "% : B6's 82 Am Car & Foundpf, 1 36% 364 36% — % organization’s activities in aid of gen-| 101, 41, Am Chain...... 1 8% 8% 8w+ 3 eral business recovery. Robert V.| 70 46 Am Chicle (13%). 2 69% 691 69% — W Fleming, president of the Riggs Na-| 613 2w Am Colortype. . 1 3% 5% 3%+ tional Bank and first vice president| 621 20% Am Comcl Alcohol 8 33k 3k 324 —1% of the A. B. A. is a member of the| 133 6% Am Crystal Sugar 12 T 6l 6l = Special Committee which has this| 72% 46% Am Crystal Sug pf. 20; 51 Bg Eg -2"i vital move in charge. 5 1% Am Encaustic. ... 2z 2 2 - Three-fold lmesgof activity in this| 13% 4% Am & Forelgn Pwr 4 5;/. Bk Bu - u connection in co-operation with mem- | 17's 6% Am & For Pw 2d pf. 2 o Th ih- ber banks are being followed. Mr.| 30% 264 AmHomeProd240. & 30% 304 304 — 3% . - el 10 % Am Ice Co.... 9 % % 3 Hecht said. ~A gencral groundwork | ) Gy yp, International 1 6% €% 6% - % was prepared through a Nation-wide| i ‘s \ui La France (k).. 6 % nc h survey of advertising by banks Tela- [ 3gs, 1415 Am Locomotive. ... 5 181 184 18y = 4 tive to their willingness to extend | 745, 351 Am Locomotive pf 2 4815 47 47 _2x, justifiable loans to industry and| 22 12% Am Mch & Fdy (1) 20 204 19% zou+ % trade, and this revealed that a large | 10 4% Am Mach & Met ct. 1 6% 6% number in all parts of the country| 27% 13% Am Metals. .5 1M 13% 13%- " are pursuing aggressive policies along | 12% 3's Am Power & Lmu 13 4w 8% 3-— %4 this line. ggh }?L‘Aml&Ls p;u'&; E }:lih 11% };x,— " 4 vey also confir evi- % 1l Am P&L 36 pf (132 2 % 13l 134 — % Ihis surpey (8120, oonfirmed 173 10 Am Radiator. . 94 16k 1% 1ok — % dence from various sources that the main cause of the failure of bank| 28% 18% Am Rolling Mills. 23 20a 204 0% — % D o 64% 36 Am Safety Razor(4) 1 624 62% 624 — % credit to expand has been the reluct- T8 Dk ANUSeAtIng .. e e 2 6 6 o ance of yusmess man to borrow 2%, 8 Am Ship & Com. 1 [ % %= Mr. Hecht's statement says. *] 30 17% Am Shipbldg (2 10s 21% 21% 21% — & generally reported that uncertainty as| 514 30% Am Smelt & Ref 13 86k 85% 358 — % regards future policies and business | 103'3 71% Am Sm&Ref 6% pf. 3 103% 103% 103% + % conditions was the controlling factor.| 125 100 Am Sm&Ref pf (7). 3 It was gratifying to us to find how| 71 48% Am Snuff (v3%4) B 2 many banks, however, are whole-| 26% 10% Am Steel Foundr, 3 heartedly doing all they can to en-| 87 59 Am St Fdry pf (). 108 courage their customers in develop-| 44% 37 Am Stores (f23%)... i ing forward-looking business plans.” | 12 48 AmSuzar (2). 4 Executives on Committee. 4 Am Sum Tob ('fl %) "2 The second line of action being | 1234 1004 Am Tel & Tel (9)... 2] followed, Mr. Hecht said. is the | 3" 7 Am Tobacco B (3) 15 preparation by the association’s ad-| gy 73 Am Type Fdrs pf(k) 30s vertising department of advertise- | 271, 12% Am Water Wks (1), 11 ments for the joint use of banks| 17t 7 Am Woolen. 7 in clearing - house groups. The de-| 83% 36 Am Wool pt (h . 20 partment has been newly organized 1713 2% Am Writ Pap pf (k) 1 as a general association function | 17% 10 Anaconda Copper... 23 under the direct supervision of the 7 9% Anaconda Wire z executive officers composing the Pub- i e G U o i licity Committee, comprising Presi- ;6_"‘ Ar ““"‘G":“F‘ e dent Hecht, First Vice President (Lo i - Fleming, Second Vice President Tom Pl Unols: 46% Armour Il prpt (6) 8 K. Smith and Executive Manager 3 Arnold Constable. .. 5 F. N. Shepherd. The department is T Asso Dry Goods. 1 in charge of Gurden Edwards, di- 45% Atch To & SF (h2). 21 rector of advertising 70t Atch To&S F pf (5 1 “The material prepared for this 241 Atlantic Coast Line. 19 Joint advertising service was sent b tl Gulf & W Ind. 108 to about 450 city and regional clear- 213 Atlantic Ref (1) 7 ing - house associations in all sec- 35% Atlas Powder (2). 2 tions,” the statement says. “The 83 A\ll«lilo“derpl(fi) 108 purpose was to co-operate with these DriAdh s e 3 groups in making their position 1; “I::lul:\"\\l?;\:)ls H clearer to the people in their com- 3% Aviation Corp Del 21 munities in respect to their willing: ness to increase the volume of sound bank loans to justified industrial and commercial borrowers as an aid to business expansion.” The third ‘line of action is the preparation of informative advertis- ing service for the use of member banks in the association to aid them in developing in their own com- munities better general public un- derstanding regarding banking, Mr. Hecht said. Mr. Hecht said the new advertising facilities being offered to the mem- bers are not a profit-making venture and that there is no intention to disturb existing advertising arrange- ments, the idea being to supplement rather than replace present plans. Collections Up; Sales Off. ‘Wholesale collection conditions held their own in November, as compared with October, but sales showed a slight decline, according to the De- cember survey of the National Asso- ciation of Credit Men, reported to the ‘Washington association today. Compared with conditions last year at the same time, the survey shows considerable improvement in both sales and collections in 92 marketing centers. Whereas last December’s sur- vey listed only eight cities as reporting good collections and good sales, the current survey finds 21 cities reporting good collections and 19 reporting good sales. The continued brightness in the collection picture, as compared with sales in this month’s reports, is a direct result of the good sales re- ported in the November survey, since 6 328 wholesale collections generally reflect | ——_— an upturn or downturn about a month later than sales. S Among the cities reporting both 6': good sales and good collections are| gg7, Baltimore, Md.; Lynchburg, Rich-| 2915 mond and Roanoke, Va. 18% Bond Club Meets Tomorrow. LI James P. Nolan, president of the| 897, Washington Bond Club, today fore-| 34!z cast a record attendance at the first| 447 luncheon of the year, which takes| 22% place tomorrow noon at the Carlton| 32% Hotel. Sir Willmott Lewis, repre-| 12% sentative of the London Times, will| 43% be the guest speaker. g Secretary Morganthau announces :g:‘ that the December 15 Treasury fi-| 7™ nancing program will involve total of-| -, ferings of $1.892.000.000. The Treas-| 131, ury’s operation will include an offering| 15 for cash of $450,000,000 15-18-year| 2 bonds bearing 3's per cent interest 9% and $450,000.000 of 18-months notes| 28% bearing 11« per cent interest and an| ¥ optional exchange offering of 18-| 16 month 1< per cent notes and 41-[ 0% year 2’5 per cent notes to holders of H\: $992,496,500 maturing Treasury cer- 60% tificates. 24% The Capital Transit Company's| gg passes for the present week include a 214 picture of a huge birthday cake which| 1u denotes the first year’s operation un-| 21% der the consolidation of the two street| 45 car companies, which took place De-| 115 cember 1, 1933. Earnings for the first| 154% 11 months have already been reported | _18% and showed an amazing increase in 18}‘% profits. & Today’s Trading on Exchange. 334 Potomac Electric Power 6 per cent %3:: preferred stock sold at 109 and 10912 | 0., on the Washington Stock Exchange: 77y, today. The same corporation’s 5121 37% per cent preferred was strong at| 51 111%;. Capital Transit figured in no| 109% sales today, final bid 262, asked 28.| 30 Bonds were neglected. 61 Bank failures in the United States| 114 have dwindled to the lowest level| 6% in 14 years, with only 57 institutions | 5% having combined deposits of less than i‘g,‘ $40,000,000 closing so far this year, 35‘: according to the Federal Reserve jg. Board. 135 These figures compared with a rec- | g, ord of 2,430 failures in the year ended | 184 June 30, 1932, which tied up a total | 47% of $1,761,002,000. Closings were| 95 smallest since 1920, when 47 failures| 4% tied up $20,725,000. 14 Preliminary figures from 14,004 in- 6% sured banks by the Federal Deposit 2% Insurance Corp. show that on October | 13% 1, 44 per cent of their total deposits 5% were insured, while 98.4 of the de- 1;& positors had fully insured accounts. 6414 11% 36% STEEL QUOTATIONS. 28, NEW YORK, December 3 (P.—Steel | 22% rices per 100 nnunds £.0.b. Plllshnr:h 51 lue - annealed sh Salemined Shots Tolled, 2.45. steel ot _Toll S0: Mack sheets. hot 80, 4% Baldwin Loco. 16% Baldwin Loco pf 13% Baltimore & Ohio. . 16 Baltimore & Ohio pf. 8614 Bamberger pf (612) 35% Bang & Arros (23). 21 Barker Brothers. ... 16% Barker Brothers pf. 5% Barnsdall Corp. 23 Bayuk Cigar (g1 89 Bayuk Cig 1st pf(7) 58 Beech-Nut P (13%) 87 Belding-Hem (h50c) 9513 Belg Nat pt pf(7.0 9% Bendix Aviation 123 Beneficial Loan 11 26 Best& Co (1%:). 2414 Bethlehem Steel 19% Bizelow-San (hl 6 Blaw Knox..... . 17 Bloomingdale (40c). 88 Bloomingdale pf (7) 28 Blumenthal pf.. 6% Boeinz Aeroplane. . 4413 Bohn Alumné& Br(3) 76 Bon Ami (A) (15).. 19% Bordern Co (1.60)... 16 Borz Warner(11%) 7x Botany Mines A (k) 12 Briggs Mfg (11%).. 14 Briggs&S 3 ](mhl (t G) Mfg. ... 16 Budd (EG) Mfg pf. 2 Budd Wheel. 5% Bullard Co 4 Burns Bros pf. 10% Burr Add M (ni6ic) % Bush Terminal (k).. 24, Bush Term deb (k). 13% Byers (A M) 18% California Pkg(112) % Callanan Zinc. .. 2% Calumet & Hecla 6 Campbell-Wyant... 12% Canada Dry G A (1) 10% Canadian Pacific 28! Cannon Mills (2). 35 se (J 1) Co. Case (J 1) pf ( 13 Caterpillar Tr t1% 17% Celanese Corp. . 615 Celotex Co pt (K)... 191 Cent Aguire (1%) .+ 514 Century Rib Mills 30% Cerro de Pasco (2) 1715 Certain-teed pf.... 391y Ches & Ohio (2.80) 34 Ches-Corp (212) 1% Chi & Eastn I11 ( 4 ChiGreat West pf.. 384 Chi Mil St P &P pf. . 43 Chi & Northwestern 8% Chi & Northwest pf. 3% Chi Pneumatic Tool 14% Chi Pneu Tool pf... 2 CRI&P6% pf (k) 9% Chi Yellow Cab (1), 19% Chickasha C O (2) 3% Childs Co..... 10% Chile Copper.. 29% Chrysler Corp t1%.. 17% City Ice & Fuel (2). 67 CityIce & F pf 6. Stores. . . tores ctfs. C Equip (80¢) 247 Cluett-Peabody (1). 95 Cluett-Peab'y pf (7) 95% Coca-Cola (7). 9% Colgate-P-P (hac). 6813 Colg-Palm-P pf (6). 10 Collins & Aikman. 74 Collins & Aik p£(7 13 Colo & Sou 1st pt. 6% Col Gas & Elec...... 52 ColG & Elpf A (6). 213 Colum Pic vte(m1).. 58 Colum Carbon(3.40) 18% Comcl Credit (2)... 38 Comcl Credit(A)(3) 913 Comel C 1st pf(63:) 24 Comecl Credit(B)(2) 85% Comcl Inv Tr(12%2) 91 Comecl Inv cv pf(e6) 15% Comcl Selv 60c) . 1 Comwlth & South. 213% Comwith & S pf ). 5 Conde Nast Pub.. 22 Congoleum-N (f2).. T4 Congress Cigar. 514 Consol Cigar 1% Consol Film. 10% Consol Film pt ( 21% Consol Gas N Y (2). 80 Consol Gas pf (5).. 1% Consol Laundrie: Ty Consol Oil (h42c). 23 Consol R R Cuba pf. 15 Consol Textile 6% Container Corp (A). 24 Container Corp (B). 5% Contl Banking(A) 7% Contl Baking (B)... 56% Contl Can (2.40) 6 Contl Diamond Fib. 23% Contl Insur (1.20) % Contl Motors......s 15% Contl O Del (h50¢c).. 40% Corn Ex Bk & Tr(3) 551 Corn Prod Ref (3) . 150 185 Corn Products pt(7) % 16 30 9% 112% 15415 1T 101% 14% 6 1148 148 3 - - % e o M 28% - % =2 - % i+ % =3 =% =5 - % - % + % - -4 -1% TN % 2% =W 9t + U 16% — 1a 14 = % 8% 5212 —1% e 33% + N 29% — & 164 +1 19% — % 108 — 14 595 + % 21 -y U - % 0% + % 14+ 4% — % 4% - % 5% — 10% + % 6% — 14 22 — ) 10 6% 5% 12 39 -1 z1 8515 1 +% % 16 9% + % 112% 154% — % 1T% = % 1014 + 4 14% — % 80 — 1 W% =% 81 - % 627 + % 39% — % 72 -1 87 - % 51 — 1 109% + % 0 i - Received by Private Wire Direct to The Evening Stan Previous 2:30 p.m. ~= 1034 -~ Stocks and Sales— Hllh Low. Dividend Rate. Add 00. High. 3% Coty Inc.. 9 % BS 28 Creamof Wheat(2), 2 35 86% 18% Crown Cork &S (1). 2 26% 44 3514 CrownC&S pf(2.70) 3 444 69 47 Crown WP 1stpf(4) 20s 80% 6% 3% Crown-Zellerback.. 18 5 88% 17 Crucible Steel. 2 22% 8% 1 CubaCo. 1 1% 9% 8% Cuban-A 1 5% 29% 13% Curtis-Publishin, 8 20% 881 43% Curtis Pub pf (j6) 2 8% 2% Curtiss Wright. . 22 2% 12% 6% Curtiss Wright (A) 4 9w 21% 1) Cutler Hammer.. 5 1T 34% 10% Deere&Co......... 17 3% 1814 10% Deere & Co pf (lflc). 6 18 78% 85 Delaware& Hudson. 4 41% 83% 14 Del Lack & West. 21 19% 66% 29 Devoe & R (A)(f: 4 524 28% 21 Diamond Match (1). 2 24% 34% 28% Diamond M pf (113) 5 34 46% 32 Dome Mines (13%). 3 3% 28 13 Dominion Strs(1.20) 5 13 28% 144 Douglas Afrcraft... 70 24u 1% % Duluth § § & Atl 1 % 133 Duplan Silk (1). 1 1 108"6 80 Dupont de N (t3 14 97% 127% 115 Du Pont deb (6). 5127 30 17%: Durham Hos pf(j2). 10s 23 124 4% Eastern Roll Mills. 1 % 116% 79 Eastman Kodak (4) 10 1148 22% 124 Eaton Mfg (1).. b 18 31% 15 Electric Auto Lite 12 27y 110 80 Elec Auto Lite pt 7. 1208 108 7% 38 KElectric Boat...... 8 b 9% 4% El&Mus Ind(h19c). 20 2% 9% 1% Elec Pwr & Light... 4 34 21 6% Elec Pwr&Lt $7 pf. 3 8y 52 34 Elec Stor Bat (2%). 8 4T 8% 21 Engineers Pub Sve. 2w 24% 11 EngPS$5.50 pfww 1 17 10% b EquitOfficeBld.... 10 5 24% 9% ErfeRR... . ¥ 13% 23 9 Erie RR 2dpf 1 12 60 50 FErie & Pitts (3 20s 64% 14% 7 Eureka Vac Cl(30c). 111% 27% 9 EvansAutoProd... 12 1% 18 7 Fairbanks-Morse. . 61 80 Fairbanks-Mrs pf 5% 2 Fed Screw Work: 31 20 Fed'd D Stores ( 36% 23% Fid PhF In (1.20) 251 13t Firestone (40c) . 86% 71 Firestone pf A(6) 69y B4y First Nat Strs(212). 25 15 Florsheim Shoe (A) 17% 2 Follansbee Bros (k) 21 10% Food Machinery - 22 83 Foster-Wheeler. 80 55 Foster-Wheeler 7% 17% Fourth N Inv(h8ic) 171 8% Fox Film 63 20 Franklin n pf.. 50% 211 Freeport-Texas (2). 4% 1% Gabriel Co (A) 20 8'; Gamewell Co 20 11'5 5% Gen Am Inve 43% B30 Gen Am Trans(l% 28% 12 Gen Asphalt....... 14% 6% Gen Baking (h63c). 104 5 Gen Bron 571 27 GenC 120 97 GenCl 5 2b% 16% Gen Electric (6ic). 123 113 Gen Elec Spe (60c). 367 28 Gen Foods (1.80)... 15% 35% 116% 102 3 31 s 528 145 150 123} Helme B1% 125 111 Hercules Ppf (7)... 3% 10% 13 430% 310 Homestake M (7 30 % 54 5% 57u 124 26% 4% T % Gen Gas & El (A)... pf AL 1(h3.39). 3% Gen Outdoors 105 Gen Print Ink( 2313 Gen R: 1 Gen Realty 10 Gen Realty&Util pf. 10% Gen Refractories. .. 10 Gen Refracctfs. 815 Gillett Saf Raz (1). 47 Gillette Saf R pi(5). 2% Gimbel Bros. . 16% Gimbel Bros pf. 15% Glidden Co (71.15).. 83 Glidden Co pr pf (7) 3% Gobel (Adolf). 16 Gold Dust (1.20) 8 Goodrich (BF). 35% Goodrich (BF) pf 18 Goodyear T & Rub.. 64 Goodyear $7 pf (4) 3% Gotham Silk Hose 1% Graham-Paige. . 4 Granby Consol 4 Grand Union.. 28 Grant (W T) (1). 12% Great Northern pf.. 815 Grt Nor Oreg(h30c) 25 Grt West Sug(2.40). Grt West Sug pf(7) % Guantanamo Sugar. 25% Hahn Dpt S 313 Hall W F Printing 25 Hamilton Watch ¥4 Hanna (M A) pf (7) 13 Harb W lker (h30c) 1% H 74 nueumxcr'x ( 101 Helme 59 Hercules Pw ( 4814 Hershey Choc (3)... 4% Holland Furnace 5% Holland & Son (50¢) 11 Houd-Hersh A 1% Houdaille-Hersh B. 43 House Fin pf (333)., 215 Houston Oil (new) 3514 Howe Sound (3).. 42 Hudson Manhattan. 9 Hudson&Manhat pt. 6% Hudson Motor Car.. 1% Hupp Motors. .. — 38% 50 0% 3% 49% 15% 5% 61n 374 15414 131 124 29% 6% 28, 24% 25 95 228 32 45% 8415 17% 30% 13% Illinois Central. 22 1llinois Central pf 19% Indus Rayon (1.68 49% Ingersoll-Rand (14 34% Inland Steel (h30c), 51 Interboro RpTr(k). 214 Intercontl Rubber 2 Int Agriculture. 15 Int Agriculture pf Int Bus Mach (p6).. 4% Int-Carriers Ltd 200 18% Int Cement (h25c).. 23y Int Harvester (60c) 28 Int Hydro Elec (A) 2% Int Merch Marine. 21 Int Nick Can (60c).. 2 Int Paper & Pw (A). % Int Paper & Pw (C). 8% Int Paper & Pw pf.. 9 Int Print Ink(h23c). 66 1nt Print Ink pf (6). 7% Int Rys Cent Am pf. 21 IntSalt (1%2).. 19 59 74 Int Tel & Tel 24% Island Crk Co — 5714 664 77 33 Jewel Tea (13%). 39 Johns-Manville... 45 Jones&Laugh 7% pt 4% 21% 23% 22% 1% Kelly Spring Tire. . 11% Kelvinator (170c) 16 Kennecott (h45c)... 13% Kresge (SS) (1) 113 101 Kresge (S S)pf(7).. 33% 28% Kroger Gr&Bk 1. 63% 31% 14% 111% 20 Laclede GasStL. 22% Lambert Co (3)... 7 Lee Rub&Tire(40c). 2% Lehigh Valley Coal. 914 Lehigh Valley R R.., 64% Lehman Corp (2.40) 22% Lib O-Ford G1(1.20) 17% Life Saver (1.60) 162 129 Lizg & Myers pf (7) 26% 35% 37 3 3 224 16 Lily Tulip Cup(1%) 16% Liquid Carb (11%).. 20% Loew’s Inc (1) 1% Loft Inc...... 1 Long Bell Lum (A)+ 15% Lorillard P (12.20) . 120% 102 Lorillard (P) pf (7). 3% 621 19% 97 1 Louisiana Oil. 87% Louisv & Nash 8% Ludlum Steel. 60 Ludlum Stl pf ( 40% 32 30 MacAnd & F (12.35) 24 DMcCall Corp (2).... 1% McCrory Strs A (k). 1% McCrory Strs B (k). 4 McGraw Hill Pub. .. 381 McIntyre Porcu (2) 79 McKeesport T P (4), 4% McKesson & Rob. 11% McKesson & Rob pf. 1 McLellan Stores (k) 934 McLellan Strs pf (k) 22 Mack Truck (1).... 85% Macy (R H)& Co(2). - - ° ~ - e P o e Rt PTG o200 @R o Net Low. Close. Chge. 63 84y 28% 54 43 6% 60 99% 17 ED) 851y 142 149% 22% 8% 11% 2% 11% 6913 2T% 22% 107 107% 152% 19% 6% + % 344 - % 16% — % 44% + % 80%+14% 4% + % 2 -% 1% 5% 19% — % 8% + % 2% By = % 17 =% 224 -1% 1% — % a - 18% — % 2z +1 +HLLL L+ FEEEFFIETE 1M+ % 9 - = SR + T + % 125 -1 18 + %4 16% — W 138 — 1a 69% — % 4% + 4 204 — 15 27% — & 106% — 1 % + h 17% 1 4% + 2414 = (BRI A ) +1 — -1l 1% 16% — 16% = 20% — 111% + 29% 22% - 8% + 1% + 2% — 11% 0% — % 2T% = % 22% 107 107% =1 1521 + % 19% — 3 23% =t 36% — % 1% 41% +1% 31 Th—- % 6% + % 8% + % 4% + % 98 —% 8% + W 37% +1% 12% + % 85 -2 i | TRANSACTIONS ON THE NEW YORK Previous 2:30 p.m. Previous 2:30 p.m. — 1934 — Stotksand Sales— Net | —- 1934 -~ Stocksand Sales— Net High. “Low. Dividend Rate. Add 00, High. Low.Close. Clige. | High ~Low. Dividend Rate, Add 00.High. Low. Close. Che. 20% 10% Manhat Shirt (60c). 2 13% 13% 134 + ’%| 33% 14% Southern Pacific. 24 184 18W 18% — Y 5% Marine Midld (40c). 23 6% 6% 6% + %| 36% 11% Southern Railway. 1 17% 16% 17 82 17 Marlin-Rockwell(2) 2 233% 221 2214 —1%| 41% 14 Southern Rwypf... 5 20% 204 20% + % 19% 8% Marshall Field..... 1 11% 11% 11% B 27 Sparks-Withington. 16 5 4% 4% = % 40% 231% Mathieson Alk(1%:) 6 29% 28% 294 — | £2% 15% Spencer Kellog 1.60 3 32 31 32 45% 80 May DeptStr (1.60), 5 441 43'% 43% —14| 11% 5% Sperry Corp. 67 9% 9% - 1 29% 10 Maytag pf ww jli. 2 28% 28% 28% + W| T34 19 Spiegel-May- ‘Stern. 6 69 es| 6874 —1% 39 26 Melville Shoe (2). 2 37% 8Tk 37 — %| 254 17% Stand Brands (1) . 56 19% 19 19 — 3 11 3% Mengel Co. 1 4% 4% 4% — %[ 127 1213 Stand Brands pf (1) 208 125% 125% 125% — % 52 24 Mengel Cop 10s 30 30 30 -1 8 3 sStand Com Tobacco. 4 3% 3% 3% 218 20% Mesta Mch (1% 18 22 21 21 —%| 17 5 StandGas&Elec... 23 6% 5% 5% =% 27% 21 M-G-M Pic pf(1.89) 1 27% 27% 2T% —%| 17 5% Stand Gas& Elecp 2 o 6l 6% — 6% 3 MiamiCopper.. 2 3% 3w 3% 1% % Stand Invest Corp. 1 g 1 1 =% 14% 9% Mid-Cont Pet(h50c) 7 11% 11% 11% — % | 42% 26l Stand OilofCal (1). 17 32 31% 31% — i 21% 6% Midland Steel Prod. 3 121 12% 12% + % | 113% 961 Stand Oil Exppf(5) 1114 114 114 + % 851 44 MidStIP1stpf (4). 708 65 63 €3 — %| 32% 23Y% Stand OilofInd (1) 18 254 25 25 — 14 60% 36 Minn-Hon Reg (13). 3 62 60 61% 41%( 50% 39% Stand Oil NJ(f13%) 2 42% 424 42% - 3 5% 1% Minn Moline Pow... 11 4% 3% 3% — %[ 15 6 Starrett (LS)..... 2 14% 14% 14% 35% 15% Minn Moline Pow pf 1 30 20 30 +1 665 47% Sterling Prod (2.60) 7 60% 59% 60 1% % Minn&StL (k). 1 % % % 3 1% Sterling Secur (A).. 1 1% 1% 1% —% 14% 4% MoKan& Texas... 9 6% 64 64 7 3 SterlingSecurpf... 1 4 4% 4% 84% 13% Mo Kan & Texas pf. 5 14% 14% 141 10% 4% Stewart-Warner.... b 8 8% Bl — % 9% 3 Mo Pacificpf(k)... 1 3 3 3 13% 4% Stone & Webster. . 2 5% 5% b4 61% 39 MonsantoC (t1%). 3 584 57% 58l — % 9% 1% Studebaker (k).... 40 2w 2 2 35% 20 Montgomery Ward.. 40 2915 :9 29% + 4| 47 10 Studebakerpf (k).. 2 14 14 14 — & 444 15% Motor Products. 4 264 26 26 — 1| 118 100 SunOilpf (6). 308 116% 116% 116Y% — % 163 6% Motor Wheel. .. 19 1% Superior Oil. . 2 1% 1% 1y 251 13 Munsingwear Inc. 2 4% Superior Steel. 5 &% 8 8 —u 11% 3% Murray Corp.. . 8 31% 14 Myer(F E)&Co 1.60 2 7% Telautograph (1). 1 3% Tennessee Corp. 1 8214 12% Nash Motors (1).. 19%, Texas Corp (1) 12 46 19% Nash Chat & St L. 30 Tex Gulf Sulph 15 13% 6% Nat Aviation. 3% Texas & Pac R R 3 49% 26% Nat Biscult (2). 6% Tex Pac Land Tr 9 23% 12 Nat Cash Reg A 50c & TheFair.......... 1 18% 13 Nat Dairy Prod 1.20 17 10 Thompson Products 6 3% 1 Nat Dept Store (k). 3 1% Thompson Starrett. 4 28% 6 Nat Dp St 1st pf(k). 120s 8 Tide Water Asso 5 Nat Distillers. . .. 64% Tide W A pf (j8} 1 80 Tide Wat Oil pt (5). 1 3% Timken-Detroit. 3 24 TimkenR B (t 7 €% Nat Pwr & Lt (80c), 6% Transamerica hzic. 15 1 % Nat Ry Mex 2d pf. 2 4% Transue & Williams 1 58% 3414 Nat Steel (1) 3% Tri-Contl Corp. ... 8 60 33% Nat Supply pf. 33 Trico Pr od 2 4 18% 9 NatTea (60c).... 1% Truax 20 sner Brothers. 1 3% Truscon Steel. . 3 W hrrn(.”lpl(z) 10s T ——— Y Air Brake. - 5 36 Und-Ell-Fisher (2). 3 New York Central.. 39 39% Un Bag & Paper (4) 6 N Y Chicago & St L. 1 35% Un Carbide & C 1.40. 28 NYC&StLpL.... 9 13% Un Oil of Calif (1).. 10 Y & Harlem (5).. 308 90 Union Pacific (6)... 6 Y N H & Hartford 8 15% Un Tank Car (1.20). 1 \'\'H&H pf.. 10 8% United Aircraft. 132 Y Ontario & West 1 31, United Air Lines&T 34 4% 4'a 4% Y Shipbldg (40c). 4 21% Unit Biscuit(1.60). 5 25% 24'; 2413 — % Y Steam pf (6)... - 35 United Carb (2.40). 4 - oranda Mines (h - 23, United Corporation. 64 orth Am Aviatiol 24’ United Corp pf (2).. 6 orth Amer (1). + 9% United Drug..... 20 — orth Am Ed pf f + 3 U : 8 - b orthern Pacific. . .. = 59 U Fruit (3) 3 Norwalk Tire&Rub. 1 2 2 2 — 11% U s Imp (1 4 i 86 U sImppf (5) 1 T 15% 8}3 Ohio OI! (h 10 10% 10 10% — 4 Unit Piece Dve Wks 19 + 7 2 Oliver Farm l—.qul . 2 3% 8% B+ 30 Unit Piece DW pf., 708 +3% | 27% 9 Oliver FEqprpfA. 2 19 18, 18% + 1, U S Distributing. . 1 19% 13Y% Otis Elevator (60c 215 15 15 4 US Distributing pf. 20s X 8 5% 5% 5w 6 US&For'n Secur 1 7 25 9 OtisSteel prpf. 1 214 21% 214 34U U Jypsum (11%). 23 3 94 €0 Owens-1llGlass (4). 3 B4% Bdls b4 4% U S Hoffman....... 1 6 6 S 32 US Indus Alcohol ., 5 — ek 3% 12h PacificG&E (1%). 16 15 15 15 — & 5% US Leather..... = 87 20% Pacific Lizhting (3) 5 23 uy 2.4 -] 7 US lu ather (A) & 34 191 Pacific Mills (h30¢). 2 19% 191 1975 15 U S Pipe & F (30c).. = /5% 707 Pacific Tel & Tel (6) 208 71t 713 Tl 4 US Realty & lmpr. = 116 103 Pacific T& T pf (6). 60s 1107: 110t 11015 + 11 US Rubber. = 8% 6% Pac Wn Oil (ht0c). 5 17 6w 7 + U'S Rubber 1st pf. = 6% 2% Packard Motor 0 4% 4 4 - U it & R (ht = 2113 7 Panhandie P& R 108 8 8 8 — 5 States S = 6% 1% Par- ann ctfs(k). 15> 34 3% % - US Steel p = 21 Park Uta 7 o3 3% B — United Stores (A) . 14 Pathe Exct 1 1% 1% 1w Unit Stores pf(32) 10% Pathe }.x('hangu.\) 9 MM 14 14y - 40% Univ Leaf Tob (13) 21% 10% Patino Mines...... 14 10 11% 11% - 1124 Unv Leaf Tob pl(8) 4% 1Y% Peerless Motor. . .. 3 1% 1% 1% Unv Pictures 1st pf 67 44% Pennick & Ford (3) . 1 F4% 64% 64% + Ta Univ Pipe & Rad. .. 69% b1 Penny J C (12.20). 6 68% 684 6K, — 1% Ctil Pwr & Lt (A) 32 12% l'enn-lnv\icCp{(Ay, 1 18% 18% IR-- 1y | — 39% 20% Penn R R (h1).. 31 2413 24 24% — | 1% % Vadsco Sales Corp.. 3 13% Pere Marquette 1 27% 27% 27w +2W| 22'a 19% Vadsco Sales pf. 1y 18 Pere Marquetprpf. 2 32 3113 32 41 $1% 14 Vanadium Corp. 134 Phelps Dodge(h7sc) 6 14%% 14% 1413 — 3| 11% 4% Van Raalte.. 3635 24% Phila Co $6 pf (3).. 23 3 30 36% 24% Vick Chem (12.40). 6 2 Phila Rapid Transit 180s 3% 3% 3% + %| 6% 1% Va-Car Chemical... 16 413 PhilaRap Transpf. 1 6l 6l 6% + %| 80 65 VaEl& Pwrpf (6). y 40% 11 Philip Morris (1)... 7 29% 29 39% — %| 9 3% ValronCoal & Coke :0s Bls 54 53 +11s 10% 13% Phillips Petrol (1). 9 151 15% 15% — %| 79 52 Vulcan Detin (h3).. 308 74 73% 74 — 3, 13'a 4% Phoenix Hosiery . X 7 7 7 —_—-- mm 61 % Pierce-Arrow (k)... 26 % % % 8% 4 Waldorf System... 7 6% 6% 6% + % 1% 3 Pierce Oil. 1 13 13— | 29% 174 Walgreen Co (m1). 2 28 : 24% 18% Pillsbury 3 34 234 34 — 1| 114 84% Walgreen pf (613). 87 70% Pirelli Co(A) (h4% 1 78 78 78 — | 6% 2k WalworthCo. 11% 41; Pitts Screw & Bolt.. 10 6% 6% 6 12 5 Ward Baking (A) 27 11% Pitts & West Va. ... 1 12% 12% 12% + 4 3% 1% Ward Baking (B). 16% 8 PlymouthOilg7sc.. ¥ 8 8 85— | &4 2% Warner Bros Pic... 29% 10% Postal Tel & Ca pf.. 4 16 15% 16 + Y| 317 15 Warner Bros Pic pf. 23 22 5% PressedSUCPf (k) 1 11 11 11 = %[ 13% 5% WarrenBros...... 16 44% 33w Proc & Gamb 11.70. 7T 4:% 43% 43% 31 13% Warren F & P (h1), 3 247 24% 24% 4+ 4 45 26 PubServNJ (2.80 9 31 30% 31 + %| T 3 WebsterEisenlohr. 2 41y 415 413 — 2 104% 90 Pub ServG&E pf(3). 1 9% 9R 98 | 837% 15% Wesson O & 1), 6 338, 33 > e 59% 5% Pullman Inc (3) 6 49% 48% 9% — % | T4 52% Wesson O & Spf(4) 1 bR 14% 64 Pure Oil 6 Ta T Tw+ | 70 44i3 WestPaElec A (7). 1308 19% % Purity Bakeries (1) % 9 8% &% — 14 ccpf (6) 108 = R, cpt (7T) 100s 60 9% 43 Radio Corporation.. 75 6% 6 6 = 1. 105 78% West PennPw pf(6) 208 1607, 100, 521 23% Radio Corp pf (A).. 9 53% 524 53% + 7| 110% 8913 West PennPw pf(7) 08 107 1064 3713 15 Radio Corppf (B).. 8 & 4 \+ %| 17% T4 Western Maryland. 3 . 4% 1% Radio-Keith-Or (k) 13 1713 4% Western Pacific pf. 4 23 14% vhestos-Man (1), 1 B Western L‘n'on 11 41% 3315 Reading 15t pf ( 1 | < Westingh'se AB 5 14 5 Real Silk Hosier; 1 » Westing hou%‘ 22 = 13% 6 Reminzton-Rand. 8 | 108 ot 6914 32% Remington-I 1st pf | f 67 30 Rem Rand2dpf.... 3 08 = 5% 2 Reo Motor Car 11 25 26 2y 2T 14% Westvaco Chl (40c) 2 = 25% 101% Republic Steel 65 — x| 28% 15 White Motor.... = 6714 33% Republic Steel pf... 15 - 13| 314 21% White Rock M 27% 15% Reynolds Metals(1) 1 2313 231 2315 — 3| 3% 1% White Sewing Mch. 14% 61 Reynolds Sp (40c).. 2 13k 18k 13k 5% 21 Wilcox Oil & G 523 39% R . 45 52% 51y 518 — 15 9 4% Wilson & Co + 1 39% 30 Royal D(h1.353-10) 1 30% 30% 30% + 3| 29% 12% Wilson & Co (A) Zx 952 53 Wilson & Co pf (37 bty 57 38% Safeway Stores (3). 1 48% 4815 481 55% 41% Woolworth (2.40) =3 08 843 Safeway Strspf (7) 108 110% 110% 110% 317 1313 Worthington Pump. s 27% 15% St Joseph L (h30c).. 1 16 16 16 = %| 53 31} Worth Pumppf A & b 6% 11 St L San F pt ‘k, SR gl Tt Rg 42 23% Worth Pump pf B % 12% 5% Savage Arms. . 1 7 7 7 —w| 7 16% Wright Aero... T 38% 17% Schenley Distillers. 50 281 271 27% — 15| 75 543 Wrigley (W jr)731;. TR 8 3 Schulte Retail Strs. 1 313 3% 3y - 30% 15 SchulteReStrspf.. 60s 18 17% 17% - % 2 14 Yale& Towne (60c) Ve 60 41 ScottPaper (71.95). 608 60% 60 60% + %| 7% 2% Yellow Truck...... By 38% 20% Seab'd Oil(Del)(f1) 6 x6'3 26% 26% 2%, 13 Young Sp&W (7134) " 51% 31 Sears Roebuck..... 22 40% 40 40 -1 33% 12% Youngstown S& T.. . 4674 32 Sec NatInvpf (j2). 30s 46% 461 46Y% + % | 59% 34 Y'gstn S&T pfasls. 9 4% Servel Inc. o MM T T -n 181 5% Sharon Ste . 3 9% 8% 9% — | 4% Zenith Radio P 7% 4 Sharp& Dohme.... 4 5W b% bW — 3| % 3% Zonite Produ e 13% 6% Shattuck(F G)(24c) 5 84 84 84 + 4 Sal 1% 6 ShellUnionOfl..... T 7. 6% 6%—%| 11:00 A o€ s‘“kfm‘:"aom' New Y‘"k Exchange. 89 57 ShellUnionOilpf.. 4 69% 69 693 — 4 1500 PR r 80000, o \jwn + 870,000 121 8 SilverKingCM40c 2 10 10 10 B ma g " 00 PM...... 590,000 24% 8% Simmons Co . 4 11 10% 10% - % | . S &s glven In the ahove table are the 1T, 7 Stinita Det (hes o) 5 6k 12:‘. 16‘5 = ‘:‘lg::g.:‘xlzmsems based on the latest quarterly or mu’;fl‘:’l‘:} s € Skelly ‘I)‘“_)?_ 1 )Z:’ 1—.6-.‘ T4 + | g, 5 URL O trading less than 100 shares f Partiy o % Snider Packing. E % ™% 16% — % | stack. Pl % year—no regular rate. u-mg m 19% 12) Socony-Vac (60¢).. 26 15 148 14% — 1| stock. ¢ P.?Zh?. m"laiif’?r o0k Bt YA, Accumulated 22% 10% SouthCalEd (1%2). 5 12% Ik 124 :{ec};fl;:,,.{;".wn,geg‘m 2B SinidDfock: 0 Plus 5% in ing, department store sales, auto- DECIDED UPTURN INTRADE HAILED Resting Period Is Ended, National City Bank Re- view States. By the Associated Press. NEW YORK, December 3.—A del- nite upturn among principal industries in Fall and Winter business was pointed out today by the National City Bank of New York in its monthly bulletin. “In general, stated. “The optimists have had a little the better of it in the returns during the past month. * * * The gains are moderate, and both current policies expectations for the Winter months continue conservative. How- ever, the improvement shows that the pessimistic opinions as to the Fall and Winter outlook, which were widely entertained at the beginning of the and the situation shows that the chief industries have passed through the resting period and entered the upturn, or will soon do s0,” it season, were unnecessarily extreme. The bulletin outlines conditions in 25% — % | key ~46 =1% Points to Advances. conditions. bank said. RUBBER FUTURES. Deoember 3 W—Crudo bar; YO pubier, ctires, oo mobile sales, cotton goods market, and a good demand for silk and rayon. Gains in retail trade, the surveys says, have not been made easily. “Along the Eastern Seaboard par- ticularly the gains have been con- centrated in the stores making strong sales efforts, based on price appeal. “This is but one of the many indica- tions of low purchasing power, which keeps business men in a conservative frame of mind. But it prompts the observation that there is no way to improve trade except by making prices to fit the consumer’s pocketbook, and no way to bring lasting progress out of the depression except by general co-operation to that end.” The letter states trade has turned to the Federal Government for an im- portant indication of future business Relief Payments Vital. “Relief payments and other emer- gency expenditures * * * are large enough to represent the difference | ! between good and bad trade,” the | “The situation is evidence that the economic system is still far short of running under its own power; and until the system can support itself in the accustomed manner, the production and exchange of goods among its members, there will be a question as to the ability to support it indefinitely by supplying the pur- chasing power derived from outside the circle of production and ex- linauoted; March, 13.30-31; May, 18,2 53. lations will and central tion, said. CHICAGO. ceipts, $7. 5). ceints, ( 17: through tal Uhited £ T s .870: marks specials (93 score) :'18 market steady. d_ i SQung ducks. 4'a turkeys about steady: old. | RAILROADS TO SLASH CHARGES ON BAGGAGE By the Associated Press. NEW YORK, December 3.—Sub- stantial reductions and other modifi- cations in baggage charges and Tegu- be made on December 15 by railroads operating in trunk line Passenger association ter- ritories, according to C. L. Hunter, chairman of the Trunk Line Associa- A number of articles now in the paying group will be checked free and present restrictions in oversize trunks will be generally abolished, he CHICAGO PRODUCE. December 3 (#.—Butter, re- t steady. (86 4R sec D xumm-u;' (90" Centralized oas: No butter sales. Eggs, re- Extra firsts, young eese, 11: capons, 6-7 Ib youn; 24; old, 26 20: young hens, ‘Receints. 96: on_ track. tot, States shipments Saturday, 503 Sunday 49: market dull. supplies moderate. demand and _trading _slow. Sacked per cwt. Michizan round whit u. kX ‘Wisconsin round whit %5, halaash; ldaho Ru U 8 No. 1. 1.50a35: U. 8. No. 2 combination ude 1.56a McClures, U. 1.1.9 STOCK EXCHANGE | STOCKLISTTENDS 10 LOWER LEVELS Utilities Display Some Re- sistance in Quiet Trad- ing Session. BY VICTOR EUBANK, Associated Press Pinancial Writer. NEW YORK, December 3—The ! majority of stocks pursued a slight- ly lower course today. Trading was dull, however, utilities showed some 1esistance. The late tone was easy. Consolidated Gas held a small net advance, but United States Steel, Chrysler, Santa Fe, American Tele- phone and Johns-Manville were a lit- tle lower. Transfers approximated 800,000 shares. While moderately bullish sentiment still prevailed, there was some profit- taking in evidence and a number of usually active operators appeared to have climbed on the fence to await { further indications as to just which way stocks were going to jump. Trad- ing during the earl. hours dropped back into the doldrums and price changes on the whole were extremely NAITow. The dollar firmed against sterling, while the gold currencies were mixed. A few share specialties got up to new 1934 highs on relatively small turnovers. Among these were Worth- | ington Pump preferred A. up nearly 3, and Worthington Pump common Radio preferred B, United Aircraft and Columbia Pictures, up fractionally. McKesson & Robbins preferred ad- vanced more than 1. The rails were unchanged to a bit higher. Such issues as United States Steel, General Motors, Chrysler, National Distillers, American Telephone, Consolidated Gas, United States Smelting, American Can and numerous others held at their Saturday’s final prices.or were a trifle lower, | Most of the communications stocks | were not particularly disturbed by the opening of hearings at Washington before the Federal Communications Commission. which are intended to develop information for the guidance of Congress in framing legislation relative to mergers in this field. The financial district was especially | interested in word from Warm Springs that the President was study- | ing the practicability . of tentative | plans to transfer relief problems from | the dole category to a work program. | It was generally felt that if the new | plans are approved. the housing policy, already enunciated by the ad- ministration, will be greatly expanded and will, in the long run, involve little actual cost to the Government. VISIBLE GRAIN SUPPLY. NEW YORK, December 3 (#)—The visible supply of American grain shows | the following changes. in bushels: { Wheat decreased 539,000; corn de- | creased 1.484.000: oats decreased *11591.000: rye decreased 230,000; bar- ley decreased 78.000. MONEY MABKET 3 s »)P —Call 6 months. 60" davs 3.al per cent Prime commercial paper, 3 i Bankers' acceptances anged: 30 days s2ia: 60-90 d 4 months. Re *New York Reserve METAL MARKET. | NEW YORK. December 3 (#.—Copner 1 lytic, spot and future. Blue 1" easy; spot and nearby. 1.05. 'Iron quiet. No. nsylvania, 10.50; luflalo SAVANNAH NAVAL STORES. SAVANNAH. December 3 () —Turpen- 1 4% asked: no sales:_ receipts o 7 N451. R INTERNATIONAL Match Corporation BONDS Bought—Sold—Quoted 1. Lowengrub Co., Inc. Investments Met. 1363-4-5 Shoreham Bldg. A Progress Is Yours Through the Building and Loan Plan of Saving! O you went to “get ahead™ finan- cially? Then begin NOW to save systematically and to invest those Savings wisely! @ Nothing is Safer than the Building and Loan Plan...nothing pays a bet- ter return with so high a degree of Safety! @ Come in and Start on the Road to Progress . . . “The Fidelity” Way! We Pay 5% —Compounded Semi-Annually from the date of payment to the date of withdrawal @ You cen open a Savings Account IN ANY AMOUNT...and you'll ale ways find, at “The Fidelity,” a friendly spirit of helpfulness and co-operation. The Fidelity Building & Loan Association NEW YORK BAR SILVER. MAIN OFFICE, 610 13th St. N.W. NEW YORK, December 8 (#).—Bar silver steady, % lower at 5473. fllllllllllllllllllllllllllIIIiIHIllIflIIIlHIIlHIIllIIlIIItIIIIIIII‘ [}