Evening Star Newspaper, December 13, 1934, Page 16

FINANCIAL'S FINANCIAL. THE EVENING STAR, WASHINGTON, D. €., THURSDAY, DECEMBER 13, 1934. A—16 ¥ STARKEY SERVES | TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE | STOCKS ARE EASY BANK 46 YEARS | o T x| IV LATE TRADING Dividend Rate. Add 00. High. Low. Close. Chge. 22 14n log 16k~ President of National Bank of Washington Honored by Associates. Previous ~— 1934 — Stocks and High. Low. Dividend Rate. Add 00 Bllh 17 Crucible Steel...... 44 Crucible Steel pt... 2 ~8% CubaRRpf........ 208 31 Cuban-Am Sugar... 1 20% Cuban-Am Sugar pf so- 37 Cudahy Pkg (2%).. 13% Curtis-Publishing., 43% Curtis Pub pf (§6).. 2% Curtiss Wright. ... 5% Curtiss Wright (A) 2:30 p.m. Sales— 2:30 p.m. ~— 1934 — Stocksand Sales— High. Low. Stocks and dividends. J 85% Macy (R H)& Co(2) 2% Madison Sq Garden. 15% Magma Cop (h1%). 10% Man Elevm g (k)... 10% Manhat Shirt (60c). 4% Marancha Corp.... 5% Marine Midld (40¢).x % Market Street Ry. . 4% Market St Ry pr pf. 8% Marshall Field. 4 Martin Parry... 231% Mathieson Alk(1%) 80 May Dept Str (1.60) 4% Maytag Co 10 Maytag pf 9 Maytag xw (j13%) 49 Maytag 1st pf (6) 26 Melville Shoe (2) 3% Mengel Co......uue 20% Mesta Mch (1%) n 3 Miami Copper...... 9% Mid-Cont Pet(h50c) 6% Midland Steel Prod. 44 Mid St1 P 1stpf (4). 35 Minn-Hon Reg (13). 2 1% Minn Moline Pow. . 9 JuMStP&SSMlisln 1008 Previous ~ 1934 — High. Low. 19% 6% Snider Packing.... 19% 12% Socony-Vac (60¢).. 107% 86 SolvAmptww5sl. 39% 21 8o Por Rico Sug (2) 22% 10% South Cal Ed (1%). 33% 14% Southern Pacific... 36% 11% Southern Railway.. 41% 14 Southern Rwy pf.. 8 2% Sparks-Withington 32% 15% Spencer Kellog 1.60 x 11% 5% Sperry Corp. . 13 6 Spicer Mfg.. 3T% 21% Spicer Mfg pf (3).. 210! 2% 19 Splegel-May-Stern. 6 26% 17% Stand Brands (1)... 14 147 121% Stand Brands pf (7) 20s 125';; 8 3 Stand Com Tobacco. 2 4% 17 5 Stand Gas & Elec. 14 5% 17 B%StandG&EI4% pt 6 6% 33 12% Stand G & E1 6% pf. 3 13 14% Stand G & E17% pf. 11 14% 26% Stand Oil of Cal (1) 15 31% 96' Stand Oil Exp pf(5)x 5 110% 23% Stand Oilof Ind (1) 10 25% 26 Stand Oil of Kan(2) 30% 39% Stand OII N J(11%) 4% 6 Starrett L S (h50c). 14% 2:30 p.m. ‘Sales— Net Previous Add 00. High. Low. Close. Chge. 8 7 1 7 85 ‘+2% 30% - W 8% Previous P — 1934 — n fiigh. “Low. _ Dividend Rate, 6 Adams Express. 70% Adams Ex pf (5) 16 Adams Millis (2) 6% Addressograph 91% Air Reduct'n t4%. 1% Airway Elec Appli 16% Alaska Jun (71.20). 1% Alleghany Corp.... 5% Alleg Cp pf $30 ww. 5% Alleg Cp pf $40 ww. 160% 115% Allied Chem (6). 3% 10% Allis-Chalmers 11% Alpha Port Cement. 214 Amal Leather. 39 Amerada Corp (2). 25% Am Ag Chem Del(2) 11% Am Bank Note . 40 Am Bank Nte p: ) 19% Am Brake Shoe 80c. 90% Am Can (15).. 12 Am Car & Foundry. 32 Am Car & Found pf. 20% Am Comcl Alcohol 63 Am Crystal Suga 46% Am Crystal Sug pf. 1% Am Encaustic. 4'3 Am & Foreign Pwr,, Net High. Low. Close. Chge. 6 02 44% 4% 19 18% 24% 1 106% 106% 106% — 23% 22% 23 + 124 1% 11% — 18% 17% 17% 16% 164 4 20% 5% 31 Moderate Irregularity Seen After Early Steadiness. Volume Dwindles. + % 123 2 lllh lll 18'/- 1% 6 111 1% 2 9 508 908 14 PIFEELE FEFEFS BY VICTOR EUBANK, Associated Press Financial Writer, NEW YORK, December 13.—Early steadiness gave way to moderate ir- regularity in the stock market today. Activity was limited. Radio preferred B and United Stores Corp. held ad- vances of 1 to 2 points. United States Steel was about even, while declines of around a point appeared in United States Smelting, American Telephone, Western Union and Eastman Kodak. The late tone was easy. Transfers approximated 950,000 shares. 8% 10% 38 55 18% 125% lZBK —I th 5 -% Mfi 5% - % 11% -1 13% 14% 4 % 10% Deere & Co. . 10% Deere & Co pf (40c) 35 Delaware & Hudson 14 Del Lack & West... 4% Den& RG Wpt.... 631% Detroit Edison (4).: 29 Devoe & R (A)(12).. 21 Diamond Match (1). 28% Diamond M pf (1%) 32 Dome Mines (13%). 11'% Dominion Strs(1.20)x 14% Douglas Aircraft... 8% Dresser Mfg A h11g 80 DupontdeN (13%). 12713 115 Du Pont deb (6).... 107 90 Dugquesne Lt 1st (5) 100s BY EDWARD C. STONE. George L. Starkey, president of the National Bank of Washington, has just completed 46 years continuous service with the institution, receiving many hearty congratulations from his associates. Back in December, 1888 he was given a “trial” position in the bank as a messenger. Beginning at the bottom of the ladder, he was FESEFEFEFFEFEESR » S O R AN O R BN B 1 21 36% 7 11% 22% 15 935 126% 105 1056% 20 5 908 4 - soon assigned to new duties and started an ad- vance which brought him into close teuch with all departments of banking. An expert note teller for years, he dis- played the same ability in other bank work. ‘Ten years ago he was elected to the presidency, following his life-long business associate, Clarence F. Nor- ment, who retired to become chairman of the board after sitting in the presi- dent's chair 30 years. A few weeks ago the bank celebrated its 125th birthday. Mr. Starkey was born and educated in Washington, belongs to the Cham- ber. of Commerce and other similar organizations, is also a member of the Executive Committee of the Washing- ton Clearing House Association. Resumes Former Agency Post. ‘The National Life Insurance Co. of Montpelier, Vt., today announced the apopintment of Wililam C. Worthing- ton as general agent for the District of Columbia and contiguous territory in Virginia to succeed Karl S. Hoff- man, resigned. Y George L. Starkey. Mr. Worthing- ton was general agent of the Na- tional Life of Vermont in this territory from 1914 ot 1929 dur- ing which time insurance to the amount of $10,- 000,000 was placed on the books of the agency. In 1929 he resigned to write personal business. Mr. Worthing- ton was born in 1880 at Alexandria, Va., and educated at the Episcopal High School. Shortly after he left school, he entered the banking busi- ness in Washington where he spent 15 years, the last 10 as an officer. While cashier of the Merchants & Mechanics Savings Bank he introduced to Wash- ington the Christmas Savings Club plan. This was the third Christmas Savings Club established in the United States, the only prior ones being at Harrisburg, Pa., and York, Pa. Mr. Worthington has served the Life Underwriters Association as secretary- treasurer, vice president, member of the board of directors and Executive Committee. Walsh Returns to Insurance. Edward J. Walsh, who has been en- gaged in investment banking for the past five years, has decided to re-enter the insurance field in which he was very active for many years. He has been appointed Washington agent of the American Insurance Co. of New- ark, N. J, and will open an office in the Shoreham Building. Mr. Walsh was the first president of the District of Columbia Under- writers' Association. He was one of the chief owners and vice presidents of the Washington base ball club for 17 years. A graduate of Georgetown University, he is a member of the Chamber of Commerce, the Board of Trade, also of the Alfalfa Club and the Lambs’ Club of New York. Word has been received here that John R. Gavin, manager of the Wash- ington office of C. F. Childs & Co., has been appointed by Gov. Ruby Laffoon as a colonel on his staff. Munsey Declares Dividend. Directors of the Munsey Trust Co have declared the regular quarterly dividened of $1 a share on ths com- pany's stock and also an extra divi- dend of 25 cents per share. Both are payable on January 2, 1935. to shareholders of record on December W. C. Worthington. 71 26'% 92 445 11 Am & For Pw pf (6) 11% Am & For Pw pf (7) 17% Am Hide & Leath pf 26% Am Home Prod 2.40 x 3 AmlceCo... 25% Am Ice pf (6). 4% Am International. % Am La France (k) 3% Am La Fran pt (k). 1780- 1 143 Am Locomotive. 351 Am Locomotive pf. 12% Am Mch & Fdy (1) 3% Am Mach & Metals. 5 Am Mach & Met ctf. 127 Am Metals. 3, Am Power & Light. 10% Am P&L $5 pf (1%) 11% Am P&L $6 pf (1%3) 10 Am Radiator . 131 Am Rolling Milis 214 Am Seating 8 Am Ship & 3 17% Am Shipbldg (2) 30% Am Smelt & Ref. 71% Am Sm&Ref 6% pf. 100 Am Smé&Ref pf (7). 48% Am Snuff (1334) 10%4 Am Steel Foundry 597 Am Stl Fdry pt ( 37 Am Stores (12%).. x 46 Am Sugar (2) 129% 1034 Am Sug pf (7). 24 125% 851y 16 344 3% 381 10 13% Am Sum Tob (t 100% Am Tel & Tel (3) 65% Am Tobacco (5). 67 Am Tobacco B (5) 7% Am Type Fdrs pf (k) 70- 12% Am Water Wks (1). 54 Am Wat W 1st (6) 7 Am Woolen. 36 Am Wool pf ( ’”1) 1 Am Writ Paper 3% Am Zinc & Lead. 10 Anaconda Copper. 13% Anchor Cap (60c 264 Archer-Dan (11} 313 Armour ot Illinois 46% Armour 111 pr pt (6) 3 Arnold Constable. T% Asso Dry Goods. 46 Asso Dry G 1stpf.. 2913 Associated Oil (h1 45% Atch To& S F (h2). 7014 Atch To&S F pf (5 2413 Atlantic Coast Lin 2115 Atlantic Ref (1).... 83 Atlas Powder pf (6) 514 Atlas Tack 1613 Auburn Auto 7 Austin Nichols 39‘1 Austin Nich pf A(5) Aviation Corp Del 413 Baldwin Loco. 16% Baldwin Loco pf... 13% Baltimore & Ohio.. 16 Baltimore & Ohio pt 16% Barker Brothers pf. 5% Barnsdall Corp.. 28 Bayuk Cigar (g1).. 103 Beatrice Creamery 58 Beech-Nut P (13%) 8% Belding-Hem (h50c) 951 Belg Nat pt pf(7. 9% Bendix Aviation 12% Beneficial Loan 1 26 Best&Co (1%). 241 Bethlehem Steel 5474 Beth St pf (j1%) 19% Bigelow-San (h1)... 6 Blaw Knox.. 6% Boeing Aeroplane. 443 Bohn Alumn& Br(3) 76 Bon Ami (A) (15). 19% Borden Co (1.60) 16t Borg Warner (11 26 Bristol-Myers 28% Bklyn-Man T(h75c) 8214 Bklyn-Man T pf (6) klyn Union Gas(5) 4 Brunswick-Balke 313 Bucyrus-Erie. 6 Bucyrus-Erie cv pf. 3 Budd (EG) Mfg 16 Budd (EG) Mfg pf. 2 Budd Wheel. 5% Bullard C: 27 Bulova Watch. 4 Burns Bros pf.. 10% Burr Add M (nf65¢c) % Bush Terminal (k). 24 Bush Term deb (k). 5 Bush Tr Bldg pf ct. 113 Butte Copper & Zinc 1% Butterick Co . 13% Byers (A M) 677 44% 1% 6% 16% 40 Byers (A M) pf. 18% California Pkg(1 ‘,3) 3 Callahan Zinc. 2% Calumet & Hecla 6 Campbell-Wyant... o S PLA =P - g .x 108 85 1 36 19 408 2 4 108 4“4 33 27 30s 1 EELI At | ++44+1 o 24 106% 7 2415 14'y 61 6 2 LY+ 4+ 4 FFEry S + A CEPEFTE 4% Eastern Roll Mills. . 12% Eaton Mfg (1)... 15 Electric Auto Lite.. 18 80 Elec Auto Litept7.x 10s 3 Electric Boat...... 2% Elec Pwr & Light. 6 Elec Pwr&Lt $6 pf. 6% Elec Pwr&Lt $7 pf. 34 Elec Stor Bat (2). 46 Endicott-John (3).. 11 EngPS$550 pf ww 5 Equit Office Bld 9% Erie R R. 14% Erie R R 15t pf T Eureka Vac Cl(80¢) x 9 Evans Auto P(i0e), 3 Exchange Buffet. 3% Fairbanks Co pt. 7 Fairbanks-Morse 4 Fed Lt & Trac. 274 Fed Motor Truck... 2 Fed Screw Works. .. 20 Fed'd D Stores (11). 23% Fid Ph F In ( 13! Firestone (40c) 71 Firestone pf A(6). 5414 First Nat Strs( 813 Foster-Wheeler. 6% Foundation Co. . 17': Fourth N Inv(h85c) 81 Fox Film (A) 20 Franklin Simon pf.. 21% Freeport-Texas (2) 5 FullerCo2dpf..... 1% Gabriel Co (A).... 813 Gamewell Co. 5% Gen Am Investor: 73 Gen Am In pf ww 30 Gen Am Trans(1%) 12 Gen Asphalt 61 Gen Baking (h65c). 5100 Gen Baking pf (8).. 5 Gen Bronze.. 24 Gen Cable.. 414 Gen Cable ( 27 Gen Cigar (17 167 Gen Electric (60c). 11% Gen Elec Spe (60¢). 28 GenFoods (1.80)... % Gen Gas & El (A)... 51 Gen Mills (3).. 24% Gen Motors (11 89% Gen Motors pf (5 3% Gen Outdoors Adv.. 8% Gen Outdoors AdvA 1 Gen Realty & Util.. 10 Gen Realty&Util pf. 10'4 Gen Refractories. .. 10 Gen Refrac ctfs. 814 Gillett Saf Raz (1). 47 Gillette Saf R pf(5) 284 Gimbel Bros. 16% Gimbel Bros pf.. .. 15% Glidden Co (11.30). x 3% Gobel (Adolf). 16 Gold Dust (1.20)... 8 Goodrich (BF) 35% Goodrich (B F) pf. 1814 Goodyear T & Rub.. 64 Goodyear $7 pf (4).. 37 Gotham Silk Hose. . 38ta Gotham S H pf (7). 1% Graham-Paige..... 4 Granby Consol. 4 Grand Union. 28 Grant (WT) (1)... 124 Great Northern pf.. 815 Grt Nor Oreg(h50c) 25 Grt West Sug(2.40) x % Guantanamo Sugar. e 2 [ISTETS ST - - o oo - S - NIE R DI e O T 5 Tt i 10 e 6 ) muaZmoi 3¢ Hahn Dept Stores. . 25% Hahn Dpt Stores pf. 313 Hall W F Printing. . 84 Hanna (M A) pf (T) 13 Harb Walker (50¢c). 113 Hat Corp (A) 19% Hat.Corp pf.. % Havana Elec R 1% Hayes Body.. 59 Hercules Pw (133 83 Hershey C pf (15 4% Holland Furnace. .. 5% Holland & Son (50c) 310 Homestake M (130). 11 Houd-Hersh A j2%. % Houdaille-Hersh B. 43 House Finpf (312).. 23 Houston Oil (new) 35% Howe Sound (3).... 413 Hudson Manhattan, 6% Hudson Motor Car.. 17 Hupp Motors 38% 13% Illinots Central. . 50 22 lllinois Central pf.. 501 19% Indus Rayon (1.68). 34% Inland Steel (h50c). 2% Inspiration Copper. 23 Insur-Sh et Md(10c) 5% Interboro RpTr(k). 24 Intercontl Rubber. . 6% 1101 17% 26 108 w. 1 6% 7% 46% 53% 15% 5 6% 110% 17% 26 108 an 128 15% 1% L ++ 1+ FE FE FEF Fr FES 4% Mo Kan& Texas. .. 18 13% Mo Kan & Texas pf, 17 3 Mo Pacific pf (k)... 1 39 MonsantoC (t1%). 10 20 Montzomery Ward. 20 37 Morrell(J)&Co 3.60. 1% Mother Lode. . 1% Motor Products 5% Mullins Mfg....... 12% Mullins Mfg I\f. cene 3% Murray Corp. (3 2 40s 9 12% Nash Motors (1). 35 19% Nash Chat & St L... 20s 3% Nat Acme Co. . 1 5% Nat Aviation. o 3 25% Nat Biscuit (2) x 47 Nat Cash Reg A 50c k] Nat Dairy Prod 1.20 10 Nat Dept Store (k). 5 Nat Dp St 1st pf(k). 440s 9 Nat Tea (60c).. 17 Newberry (J J) (1) 5'% Newport Industries 11’4 NY Air Brake...... New York Central.. YC&StLpt N Y & Harlem (5).. N Y Investors (k).. ipbldg (40c). Shipbldg pf(7) eam 18t (7)..x 108 Noranda Mines (h2) 1 Norfolk & W (110). 1 Corf & West pf (4). 480s North Am Aviation. 15 North Amer (1).... 15 North Am Co pf (3) 14% Northern Pacifie. .. 1% Norwalk Tire&Rub. 10s 8% Ohlo Ol (h45e).. 2 Oliver Farm Equip. 9 OliverFEaprpfA. €% 3% Omnibus Corp 19% 134 Otis Elevator 1 “'- 92 15% 2T% 47 323% Outlet Co (125, 94 60 O\\tn«-l“(.ll\s(d) - 114 3% Pacific Coast 1st. 12% Pacific G & E (13%). Pacific Mills (hs0c) 707 Pacific Tel & Tel (6) 2. §'s Pac W'n Oil (h40c). 2%, Packard Motor 1% Par-Publix ctfs(k). 214 Park U 13 Pathe 10% Pathe Exchange(A) 915 Patino Mines. 44% Pennick & Ford . 511 Penney (J C) t4.40. 27 Penn Dixie Cement. 20% Penn RR (h1). 19% Feoples Gas Chi. 9% Pet Milk (1) 81, Petrol Corp 13% Phelps Dodze(h 2 Phila Rap Tran (k). 31 Phila & Read C& 1. 11% Philip Morris (1)... 13% Phillips Petrol (1). %, Pierce-Arrow (k) 1 Pierce Ol.. 7 Pierce Petroleum. .. 181 Pillsbury Flourl.60. 4% Pitts Screw & Bolt. 1% Pittston Co. 8 Plymouth Oil g7sc.. 6 Poor&Co (B)... 10% Postal Tel & Ca pf.. 1'; Pressed Stl Car (k). 3314 Proc & Gamb $1.70. 102% Proc & Gam pf (3) . 26 Pub Serv N J (2.80). 61 Pub Serv N J pf (3). 354% Pullman Inc (3). 61 Pure Oil... 49 Pure Oil pf. ¥% Purity Bakeri 415 Radio Corporation.. 23% Radio Corp pf (A).. 15 Radio Corp pf (B).. 1% Radio-Keith-Or (k) 6 Remington-Rand. .. 32% Remington-R 1st pf 2 Reo Motor Car. 1014 Republic Steel . 3314 Republic Steel pf. 42% Republic Steel pf ct Revere Cop & Br pt. Reynolds Tob (3).. 39% Reynolds Tob B (3). 207 Roan Antelope Ltd. 37% 10 1% % 47 3 1% 2% 5% 6% 29% 43% 33 6 1 Ulen& 90 8% United 3% United 107 35 United 23, United 24’ United 9% United 3% United 69 United USF) 11 USRu 24U 96% U 5475 % United 99 2% United 54 "4 14 24 2 4% Wilson 35% Un Carbide & C 1.40 1113 Un Oil of Calif (1). Union Pacific (6)... 71% Union Pacific pf (4) 15% Un Tank Car (1.20). 11% Unit Gas Imp (1.20) 4 Unit Piece Dye Wks 'Dx-zmbuung .(}m 1st pf (6) Gypsum (11%) Hoffman Indus Alcohol Leather. Leather 4 USRealty & lmpr Rubber 1st pf. . Smelt & R (h%) ) SSm&R Dt (332) Unit Stores pf(3% ) 40% Univ Leaf Tob (13) 140 112} Unv Leaf Tob pf(8) x 20s 13615 % Univ Pipe & Rad. 4% Univ Pipe & Rad pf. 200. % Util Pwr & Lt (A) 1714 Walgreen Co (m1). 84'; Walgreen pf (613), 2% Walworth Co. . 5 Ward Baking (A).. 1% Ward Baking (B).. Ward Baking pf (2) x 2% Warner Bros Pic. . 15 Warner Bros Pic pf. 1 Warner-Quinlan 5l Warren Bros. ...... 13!'s Warren F& P (hl). \\(b\ler Eisenlohr. st PennPw pf(7) ern Maryland stern Pacific.. 4% Western Pacific pf. 1 29's Western Union.... « Westingh'se AB 50¢ inghouse Elec. ingh'se 1st 314 vaco Chl (40¢) 12 White Sewing Mch. Wilcox Oil & Gas. 47% Sterling Prod (3.80). 3 Sterling Secur pf. . 30 Sterling Secur cv pt 4% Stewart-Warner 4% Stone & Webster. 1% Studebaker (k).... 10 Studebaker pf (k) 118 100 Sun Oil pt (6) 25% 11% Superheater 1% Superior Oil. 4% Superior Stee| % Symington. . 135 Symington (A). 34 Tennessee Corp.... 19% Texas Corp (1). 30 Tex Gulf Sulph ("). 24 Tex Pac Coal & Oil.. 215 Thermoid Co 10 " Thompson Products 1% Thompson Starrett. 8 Tide W; 25% Tide Wat Oil(h11) 80 Tide W 3% Timken-Detroit. .. 24 Timken R B (11%). 5% Transamerica h25e. 4'; Transue & Williams 34 Tri-Contl Corp Trico P! 3% Truscon Stee 1% Twin C Twin Cit ater Asso... at Oil pf (5). rod t Co. Afreraft.... Air Lines&T 21% Unit Biscuit(1.60).. Unit Biscuit pf (7). Carb (2.40). x Corporation. Corp pf (3).. Brug:...iol Elec Coal. Fruit (3).... % tributing (33 r'n Secur. s [ER chei i NP~ FOTUT - PP L OIS = ight (1). bber. States Steel. 674 U S Steel pf (2). U'S Tohaceo (1714) Stores (A). +2 9 5 584 i 2 % Vadsco Sales Corp Vanadium Corp. 4'; Van Raalte. .. 5414 VanRaalte 1st pf(7) 24% Vick Chem (12.40). 1% Va-Car Chemical. 5 108 1% 6 8 29y 50s 116 29 10s 106 6 9‘5 3 4\ 34% 241 24 6 20 10s B & Co.. 1» | marketwise. +1% Dealings, for the most part, Were of a highly selective character, A number of specialties moved into new high territory for the year, while the old-line leaders were generally content to improve their standing by small fractions. The best prices ap- peared during the first hour, when the activity was the greatest. The pace slowed down later under the in- fluence of scattered realizing. Shares of Wilson & Co. A and Mec- Lellan Stores advanced about a point each to new 1934 tops. Radio pre- ferred B recovered 3. Both the Radio and Wilson issues reflected recapital- ization prospects for-these companies Industrial Rayon and Celanese were higher as rayon prices were increased. Santa Fe and Delaware & Hudson moved up about a point each and the other rails were a little better. United States Steel, General Motors, Ameri- can Tobacco B, Liggett & Myers B, National Biscuit, Montgomery Ward, Du Pont, National Distillers and Loew's were in moderate demand. The metals and utilities were listless, as were the oils. Speculative forces were watching Washington for indications of the 'next major market trend, although earnings statements were expected to . ldo much to maintain sentiment. The opinions of brokerage com- mentators were still quite mixed Various so-called tech- nicians continued to hold bearish views based largely on the belief that | a number of stcoks are selling out of line with potential earnings. It was felt in these quarters that further readjustments must be made before the market, as a whole, can resume its broad forward movement, Some of the early activity in the merchandising shares was attributed | to reports that the expansion of sales { was showing no signs of tapering | The Department of Commerce an- nounced that payments on open and installment accounts of department stores were higher in October than September or in October a year ago. Chicago Grain By the Associated Press. CHICAGO, December 13.—Unfavor- | able crop advices from Argentina did | much today to make grain prices here average higher, It was indicated that the Argentine J1% 1 wheat crop had been seriously dam- aged, first by frost, then by rust and finally by a wet harvest. In some quarters belief prevailed that com- mission house selling, which has been freely under way for some time past in wheat here, was about over. WHEAT— Open old. . 1.0013 w. 10000 101 Close. 1o0td 1004 1.0035 10034-01 RSO 913, a1 NRIh 514 47 . 14 <0 Wheat closed firm, us changed to s higher compared with yesterday's finish: May, 1.00%,a1.01. Corn, !s-': up; May, 88',a88%. Oats, %-7¢ up, and provisions unchanged to a set- { back of 22 cents. Chicago Cash Market. | Cash wheat, No. 4 red, 1.02!3: corn, old No. 2 yellow, 95; new No. 2, yeliow. 193a94; No. 4 white, 97a99; oats, No. 3 white, 55a55';; No. 4 white, 51a53; rye. no sales; barley, 75a1.26; soy- 12% Wilson & Co (A). 53 Wilson & Co pf ( 41% Woolworth (2.40). 1313 Worthington Pump. 31'3 Worth Pump pf A. . Z'{‘» Worth Pump pf B. Wright Aero. 56'3 Wrigley (W Jr)tJ’, . beans, No. 2 yellow, 1.20 (track coun- try stations): timothy seed, 16.502 »|17.50 hundredweight; clover seed, 15.25a21.75 hundredweight. Liverool Grain Prices. LIVERPOOL. December 13 (.—Wheat futures closed barely steady. 22. ‘The largest bank dividened de- clared this week was voted by the directors of the First National Ban New York, who declared the regular quarterly dividend of $25 a sharz, payable January 20 to stock of record December 20. Sales of American Stores Co., which 29% Royal D(h1.35 3-10) 5% Rutland R ¥ FELF 12% Canada Dry G A (1) 10% Canadian Pacific. .. 26% Cap Admin pf A (3) 3, Case (J I) Co 56% Case (J I) pf 23 Caterpillar Tr t1% 17% Celanese Corp. 11 Ceiotex Co (k) 1 Celotex vte (K)... 6145 Celotex Co pf (k).. 9% 18% 39 B63% 89% 35% 11% 4 Interlake Iron. 614 2 IntAgriculture 164 131 Int Bus Mach ( 12% 4% Int-Carriers Ltd 2 37% 18% Int Cement (h25c). 467% 23Y% Int Harvester (60c) 9% 2% Int Hydro Elec (A). 29% 21 Int Nick Can (60c). 6%s 2 Int Paper & Pw (A) 2% % Int Paper & Pw (C). 40 38y Safeway Stores (3). afeway Strs pf (6) afeway Strs pf (7) xh L (h30c). 508 ArHA L+ 4 44++¢+| | ¥OFEEw 5% Clo Previous 2% Yellow Truck December o 7 28 Yellow Truck pf & 2 630s operates 39 stores in Washington, are running ahead of last year, accord- ing to latest reports. Sales for the four weeks ended December 1 totaled $8,744,032 or 19 per cent ahead of the same period last year. For the first 11 months of this vear sales ‘were 4.4 per cent better than in the like period in 1933. Today's Trading on Exchange. Trading on the Washington Stock Exchange today opened in the bond division. Capital Traction 5s sold at 90, Washington Gas 5s, 1958, moved at 99!, and Washington Railway & Electric 4s changed hands at 98%. At the close of the market $500 Capital ‘Traction 5s sold at 89%. Capital Transit stock sold today at 27. Lanston Monotype was out again at 48. Potomac Electric Power 6 per cent preferred registered 110. Wash- ington Railway & Electric preferred was strong at 101 and Mergenthaler Linotype was better today, a small lot changing hands at 33. Insurance Congress Planned. F. George Clendaniel, president of the District of Columbia Life Under- writers' Association, outlined plans for the coming joint sales congress of the Washington and Baltimore as- sociations, at the December meeting held this noon at the Willard Hotel. The congress will be held here Janu- ary 15. It is a yearly event, which has become very popular. J. E. Mc- Combs gave the membership drive a boost and Rev. Allen A. Stockdale made a stirring inspirational address along insurance lines. The attend- ance was unusually large. Heard in Financial District. Leonard P. Ayres calls for aband- onment of N. R. A. when the act ex- pires next June. It should be replaced by a new act to reduce regulation and restore competition, he said. Un- balanced budgets and the securities act are also obstacles to recovery, Col. Ayres believes. The Interstate Commerce Commis- sion has approved the issuance by the Lehigh Valley Railroad of $3,345,- 000 equipment trust series of 1934. Approval of the issue was re- quested in connection with a P. W. A, loan. 18% Cent Aguire (1%).. 51 Century Rio Mills. . 82 Century RibMpf(7) 30% Cerro de Pasco (2).. 39% Ches & Ohio (2.80).. 34 Ches-Corp (2%2)..4s 1% Chi & E 111 pf (K)... 2%: Chi Mil St P & Pac.. 3% Chi Mil St P &P pf.. 4% Chi & Northwestern 8% Chi & Northwest pf. 3% Chi Pneumatic Tool 14% Chi Pneu Tool pf... 1% Chi R1 & Pac (k). 2 CRI&P6% pf (K) 3 CRI&P 1% pt (k) 19% ChickashaCO (2)..x 3% ChildsCo....0u.nt 29Y% Chrysler Corp t1% . 17% City Ice & Fuel (2).x 67 City Ice & F pf 61,4,. % City Stores. % City Stores c!fs . 504 Coca-Cola (A)(3).. 93 Colgate-P-P (175¢). 6814 Colg-Palm-P pf (6). 10 Collins & Aikman. . 3% Colo Fuel & Iron(k) 11 Colo & Sou 2d pf... 6% Col Gas & Elec. ... 52 Col G & Elpf A (6). 58 Colum Carb (13.60). 18% Comel Credit (2)... 911 Comel C 1st pf(632) 85% Comcl Inv Tr(12%) 91 Comecl Inv cv pf(e6) 15% Comcl Solv (60¢)... 1 Comwlth & South. . 213 Comwlth & S pf (6). 22 Congoleum-N (12).. 45Y% Con Cg pr pt ww 61 1% Consol Film 10% Consol Film pf (j2). 21% Consol Gas N Y (2). 80 Consol Gaspf (5)..; 1% Consol Laundries 73 Consol Ol (h42e). 2% Consol R R Cuba p 14 Consol Textile, 6% Container Corp (A). 2% Container Corp (B). 5% Contl Baking (A).. 74 Contl Baking (B).. 44% Contl Baking pf (4) 656% Contl Can (2.40)... 6 Contl Diamond Fib. 23% Contl Insur (1.20).. % Contl Motors 16% Contl O Del (h! 551 Corn Prod Ref (3).. 1501 135 Corn Products pf(7) 9% 36U 36% 6% 3% Coty InC.......... 28 Cream of Wht 1214 18% Crown Cork & S (1). 3% Crowa-Zellerback. . A 10s 46 o9 10 34 2 105 1 6 1+ 3 1 8 B = R N + 4 8 2 2 4 1 4 5 1 P+ +4400 0 65% 6415 150 160 150 6 6 6 8 35!% 35% 351 1 24% 24% 24% s w6 u 24’ 8!y Int Paper & Pw pf.. 25% 9 IntPrint Ink h30c. .x 223% T3 Int Rys Cent Am pf 82 21 IntSalt(133)... 50% 38 IntShoe (2) 17% 7% Int Tel & Tel 16% 31 Interstate Dep 10 5% Intertype Corp 35% 24% Island Ck Coal (h3) 110 90 Island Creek pf (6). —_— 66% 39 Johns-Manville.... 17 45 Jones&Laugh 7%pf 20s 6% Kans City Southern 11% Kans City South pt. 6 KaufmannDeptS40c 137% Kayser(J)&Co h50c 1% Kelly Spring Tire. . 5 Kelly Sp Tire 6% pt 11% Kelvinator (+70c).. 651 Kendall pf (16.92).. 16 Kennecott (h45c) 131 Kinney (G R) pf... 13% Kresge (SS) (1).... 36 Kress (SH)(fl)... 23% Kroger Gr&Bk 1.60. 19% 22% Lambert Co (3).... 7 Lee Rub&Tire(40c). 214 Lehigh Valley Coal. 5 Lehigh Val Coal pf. 914 Lehigh Valley RR.. 64% Lehman Corp (2.40) 1114 Lehn & Fink (13%) . 2214 Lib O-Ford G1(1.20) 17% Life Saver (1.60)... 73 Ligg & Myers ( 74% Ligg & Myers B(15) 16 Lily Tulip Cup(1) 15% Lima Locomotive. . 16% Liquid Carb (11%). 37 20% Loew's Inc (11%).. 106 72 Loew’'sIncpf (6%). 3 1% LoftInc.......... 3 1 Long Bell Lum (A). u% 33% Loose-Wiles (2). 15% Lorillard P ($2. 125 102 Lorillard (P) pf (1) x80l l!fl 3% 1 Louisiana Oil...... 21 13 Louisv G&E(A)1%. ldt 624 37% Louisv & Nash (h3). 467 19% 8% Ludlum Steel...... 4% 32 24 McCall Corp (2).... 1% McCrory Strs A (k) 1% McCrory Strs B (k). 5% McCrory Strs pf (k) 3814 McIntyre Porcu (2) 79 McKeesport T P (4) 4% McKesson & Rob... 11% McKesson & Rob pt 1 McLellan Stores (k) 914 McLellan Strs pf(k) 22 Mack Truck (1)....x 437 24 110 111% 2614 364 353 104 1041 18% 20% 20 28% 57 35% 2 104% 4 1% 2 2 4 asu 144+ + 104 103% 18% 20 2T% 34% 103% 1% 2 Sl% 20% 126 130 1 1 12% 12% 46% 46% 4% 14% 30% 8% 8 57 41 0% 8% 39% 16% 9% — 26 ++ 444 +5% -% + % + % +1% +1% +8 + W + % +1% % - Schulte Re Strs pf. 84 Seaboard Air L (k). 1 Seaboard A L pf (k) 20% Seab'd Oil(Del) (11) 31 Sears Roebuck. 32 Sec Nat Inv pf ( 4% Servel Inc 3814 Sharp & D pf (3% 6% Shattuck (FG) 25c. 6 Shell Union Oil.... 57 Shell Union Oil pf.. 8 Silver King C M 40c 8% Simmons Co T4 Simms Pet ( 6 Skelly Oil. . 5114 Skelly Oil pf ww... 13% 1135 89 12% 24% 174 11 681 84 Y'gst'n declarations, s Unit of trads 9%in stock. & Paig stock. & P stock. or ‘being reo: 3% Zonite Products Sales of Stocks on the New - 300,000 - 590,000 Dividend rates as given in cash payments based Pt a Paid | & Fatnlein Tatios vable in ca: dividends paid_this sear *k Somp zed Stock b Pius ¢ in stock. 12% Youngstown S& T S&T pfAs Y a 8 A% 4w ey o+ York Exchange. 12:00 X\oun.....d-fl)ooo 2:00 P.M...... 760,000 le are the ann on the latest quarterly or h:ll-ul‘:l.yl less than 100 shares 1 Partly extr, last {nr—nodre:gn,lr rate. aP.y-nxl. " % Companies reported in Srosivershin u XEx dividena K BPIUS 3% in ELECTRICAL SUPPLY TRADE ADVANCES Continuous Double 1933 Sales Total, Review Discloses. Special Dispatch to The Star. NEW YORK, December 13.—In most parts of the country there has been a continuous widening of distri- bution of electrical supplies through- out the current year, with new peaks recorded for the movement of some articles, according to Dun & Brad- street, Inc. By comparison with the first 10 months of 1933, production and sales increases ranging from 25 to 40 per cent in tonnage and dollar volume have been reported. The concerted effort to rehabilitate homes and in- dustrial plants, under the Federal Housing Administration, has been beneficial, to some extent, but the major portion of the upturn in the supply division has been attributed to a diversified demand for heavy elec- trical equipment, such as motors, gen- erators, transformers, lighting fixtures and wiring. “In addition. the phenomenal ex- tension of the demand for electric re- frigerators, ranges, water heaters, vacuum cleaners and the large va- riety of lapor-saving devices for the Improvement May| home has been an important con- tributing factor to the year's enlarged volume. The reaction from the rapidly mounting sales, which in many divisions will close the year at double the 1933 figures, has boosted power- | load requirements, as electric output during the fourth week of Nevember rsoe to 1,705413,000 kilowatt hours, the largest in 200 weeks, or since January, 1931." WOOL MARKET LEADER GLOOMY OVER OUTLOOK By the Associated Press. CHICAGO, December 13.—Col. H. H. Embach of Boston, general man- | ager of the National Wool Market Corp., told its directors yesterday the | wool market outlook was gloomy. Col. Embach said that although most of the 1834 crop had not been “moved,” the 1935 crop was ready to be clipped He added that production costs in the industry were about 30 cents a pound, while the prevailing market hovered near 25 cents. WHEAT EXPORTS DOWN. NEW YORK, December 13 ().— ‘Wheat exports from United States and Canadian ports during the week ended December 8 totaled 1,891,187 bushels, compared with 4,238,667 bushels in the preceding week and 3,- 952,526 bushels in the same week last year, according to reports to Dun & Bradstreet. UPTURN REDUCES CLOTHING DEFICITS Kuppenheimer and Hart, Schaff- ner & Marx Reveal Decided Firancial Comeback. By the Assoclated Press. .cmCAGO. December 13.—This city's part of the clothing industry yesterday indicated a financial come- | back after four years of depressior. Two of the “Big Three” firms—Hart, Schaffner & Marx and B. Kuppen- heimer & Co.—will submit annual re- |ports to stockholders showing 1934 deficits below half of those of the pre- ceding year. Sales and dollar totals currently are ahead of last year and much in- terest already is manifest in Spring lines, the companies said. Hart Schaffner & Marx said it ex- pected to cut its 1934 deficit. to below $350,000. Its deficit for the fiscal year ended November 30, 1933, was $683,655 and the 1932 deficit was $3,915,729. Kuppenheimer's 1934 report, the company states, will show the firm in the red by a narrow margin, while in 1933 the deficit was $222,121, and in 1932, $776,980. Pe ) Jul; Exchange. 463 Mtlmor! Quotations, BALTIMORE. December 13 () — Close, wheat, No. 2, red Winter gar- licky, spot, domestic, 99%; Decem- ber, 993,. HAIL BETTER BUSINESS. CHICAGO, December 13 (#).—The National Warm Air Register Manufac- turers’ Association yesterday reported a 20 per cent improvement in general business conditions over last year. E. C. Foz of Cleveland was elected & member of the code authority. DIRECTORY COMMODITY BROKERS COTTON ember Eu e .l!c'! Cott o ® o RUBBER—HIDES METALS—SILK Members Commodity Exchange. Ine, Harriman & NA.'1600 $10.00 Per Month Per $1000.00 COLUMBIA PERMANENT BUILDING ASSDCIATION 733 12th St. N.W,