Evening Star Newspaper, December 17, 1934, Page 18

A—Ig ®*# FINANCIAL, THE EVENING STAR, WASHINGTON, D. C, MONDAY, DECEMBER 17, 1934, FINANCIAL, CAPTAL INTERESTI{ TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE |[STOCKLIST HOLDS Received by Private Wire Direot to The Evening Star. RATES UNCHANGED Previovs = 1004 — Low. H‘A Reductions Effective Herel 1% in Advance of Federal Reserve Order. BY EDWARD C. STONE. TInterest rates paid by Washington banks on time and savings deposits will remain unchanged as rates simi- lar to those prescribed by the Federal Reserve Board have been in effect here for several months. These rates were adopted by all the banks in the Capital by order of the Washington Clearing House Association, after long and careful study of the interest situation here. The Federal Reserve Board has ordered reduction from 3 per cent to 21, per cent in the maximum in- terest that member banks can pay on time and savings deposits to their customers after February 1, next. They apply to all the member banks in the United States which have not yet adopted them. The Federal Deposit Insurance Corp. has ordered a similar reduction by the banks which are under its juris- diction. That means a host of State banks and will bring aebout 14,000 institutions under the ruling. National Results Watched. ‘Washington bankers expressed deep interest today in the national results which the new move is hoped to bring about. The Reserve Board states that the ordered reduction is in line with the general downward trend in interest rates, adding that lower rates should “encourage depositors to seek investment for their idle funds.” The Reserve Board hopes that sav- ings bank depositors will place part of their funds in bonds, mortgages and other securities which will give higher yields. The move is also expected to bring a decline in the cost of bank loans. The Reserve Board was given the responsibility by the banking act of 1933 to limit by regulation the rate of interest paid by member banks on time deposits, raising or lowering rates in accordance with prevailing eco- nomic conditions and the require- ments of public interest. Payment of interest cn demand deposits by Fed- eral Reserve members was prohibited by the banking act. Since the board was vested with the duty of regulating interest, the maximum rate of payment has dropped from 4 per cent to the 2% per cent which will go into effect next year. A great many banks out- side of Washington already have the 21, per cent rate in force. In line with the reduction of inter- est rates, the Atlanta Federal Reserve Bank recently announced a cut in its rediscount charge to 2!; per cent from 3 per cent. Other Reserve banks which have rates of 3 per cent or so are expected to follow suit. Although the rediscount charge lacks signifi- cance at a time when member banks are not borrowing, a low rate is thought to have a psychological effect on interest yields in general. Private Enterprise Favored. J. Howard Ardrey, deputy housing administrator, who addressed the Dis- trict Bankers' Association recently, told members of the New York State League of Building and Loan Asso- ciations that this agency believes home financing should remain in the hands of private enterprise. “We in the Federal Housing Admin- istration hope that the profitable busi- ness of home financing will remain in the hands of those who have so long been the leaders in the field,” Mr. Ardrey said. “That is one of the principal inten- tions of the national housing act—to strengthen and keep liquid the mort- gage market for those whose liveli- hoods depend upon it.” Retail Trade Still Rushing. Officials of Railway Express Agency in various parts of the country report substantial shipments to retail stores and shops of rush orders to replenish depleted lines. With this pick-up as an indication, they anticipate retail sales before Christmas should far ex- ceed those of last year. Chairman Crowley of F. D. I. C. has announced his organization’s pros- pective recommendations to Congress on permanent deposit insurance. They include: (1) a guarantee limit of $5,000, (2) a fixed annual premium as opposed to unlimited liability and (3) the delegation of some supervisory authority to the F. D. I. C. Compilation of October 17 condi- tion statement of national banks, re- leased by Controller of the Currency ©O’Connor, showed that deposits had gone up sharply (almost $900,000,000) since June 30. Loans and discounts, however, declined about $61,000,000. Park Savings Payments Start. As noted elsewhere in today’s Star, the grand rush started this morning for some 8,000 checks covering a $600,000 payment to depositors in the Park Savings Bank. While the bank had 14,000 depositors, some had sev- eral accounts, which have been com- bined, hence only 8,000 chetks. Christmas seals for the benefit of the Tuberculosis Society were placed on sale in Washington bank lobbies today. Special tables were furnished official representatives and the re- sponse appeared to be generous. The New York Stock Exchange has ruled that Peoples Drug Store stock shall be ex the 100 per cent stock divi- dend on December 31. Busy Day on D. C. Exchange. Trading was active on the Wash- ington Stock Exchange today. The largest transaction was a $3,000 bond sale in Anacostia & Potomac R. R. 5s, at 78%. Capital Traction 5s moved at 8914, Washington Gas 6s, series B, at 103 and Washington Railway & Elec- tric 4s at 98%. Capital Transit stock sold at 26, Potomac Electric Power 5': per cent preferred at 111% and Potomac Elec- tric Power 6 per cent preferred at 109%%. FEDERAL LAND BANKS NEW YORK. December 17 (#.—Federal Land Bank bonds (Quotations as of 2 o'clock.) 100% FOREIGN MARKETS. By the Associated Press. LONDON.—Business on_the Stock Ex- change was moderate today with the price tendency irregular. ~Gilt-edged securities, oil shares and rubber issues eased. while trapsatlantic stocks. gold mining shlru and industrials were market closed irregular PARIS.—Motor and rubber shares de- (lined slightiy on the Bourse today. The market otherwise was sluggish. The clos- Tone was {rregul ngy orevailed on the 100% supported. ar ERLIN.—Idleness Prices sagsed. but recovere 2 N The ;lesllgmglofn of ustax Krupp von Bohlen Halbach from et e esidency of the German Council for Business and Industry had no effect upon B market as the announcement was made after the Boerse had closed. ll3 3% 28 T 5% 16% 14% 160\ 125 71 100 2:30 p.m. Stocksand Sales— Dividend Rate. 6 Adams Express. 70% Adams Ex pf (5) 6% Addressograph.... 4% Affiliated Prod(60c) 91% Air Reduct'n t4% 6% 10s 843% B84% 3 8% 8% 74 16% Alaska Jun (11.20). 3% Albany Wrap Paper 1% Alleghany Corp (k). 5% Alleg Cp pf $30 ww. 5 Alleg Cp pf $40 ww. 115% Allied Chem (6). 10% Allis-Chalmers. 214 Amal Leather. 39 Amerada Corp (2).. 25% Am Ag Chem Del(2) 11% Am Bank Note..... 19% Am Brake Shoe 80c. 96 Am Brake Sh pf (7) 90% Am Can (15). 12 Am Car & Fou 32 'Am Car & Found pf. 20% Am Comcl Alcohol. ., 6% Am Crystal Sugar. .. 46% Am Crystal Sug pf. 1% Am Encaustic...... 4% Am & Foreign Pwr., 11 Am & For Pw pf (6) 11% Am & For Pw pf (7) 64 Am & For Pw 2d pf. 17% Am Hide & Leath pf 26% Am Home Prod 2.40. 8 AmIceCo.. 4% Am Internatio % Am La France (k). 3% Am La Fran pf (k). 14% Am Locomotive 3514 Am Locomotive pf.: 12% Am Mch & Fdy (1).. 3% Am Mach & Metals. 12% Am Metals . 31: Am Power & Light. 10% Am P&L $5 pf (1%) 11% Am P&L $6 pf (1%2) 86 Am Safety Razor(4) 3% Am Ship & Com. . 17% Am Shipbldg (2) 30% Am Smelt & Ref. 71% Am Smé&Ref 6% pf. Am Sm&Ref pf (7). 48% Am Snuff (13%)...3 127 106 Am Snuff pf (6). 26 443 72 24 10% Am Steel Foundry. 87 Am Stores (123%). 46 Am Sugar (2) 129% 1034 Am Sug pf (7). 13! « Am Sum Tob (t 125% 100% Am Tel & Tel (9) 85'% 89 24% 104 394 117 6% 1% 10% 65% Am Tobacco (5). 67 Am Tobacco B (5).. 4 Am Tobacco pf (6) .3 Am Type Fdrs (k). . ‘ll. Am Type Fdrs pf (k) 12% Am Water Wks (1). 7 Am Woolen 36 Am Wool pf (h23). 1 Am Writ Paper (k). 2% Am Writ Pap pf (k) 10 Anaconda Copper. 13% Anchor Cap (60c). 4% Andes Copper. .. 26% Archer-Dan (11%).. 110 Archer-Dan pf (7) 31 Armour of Illinois. . 46% Armour Il pr pf (6) 8 Arnold Constable... 7% Asso Dry Goods. 46 Asso Dry G 1st pf. 36 AssoDry G 2d pf... 45% Atch To& S F (h2). T0% Atch To&S F pf (5). 241 Atlantic Coast Line 5 AtlGulf & W Ind. 21% Atlantic Ref (1). 83 Atlas Powder pf (s) 515 Atlas Tack.... 161 Auburn Auto 7 Austin Nichols..... 391 Austin Nich pf A(5) 3% Aviation Corp Del. . 300s 11 30s : —— 16 643, 341 37% 102% 38% 10 45% 19% 127 14 50 Bklyn Union Gas(5) ¢ 38 Comecl Credit(A)(3) 4 150t 9% 3E% 1% % 55% Corn Prod Ref (3).. 4% Baldwin Loco. 16% Baldwin Loco pf.. 18% Baltimore & Ohio. . 16 Baltimore & Ohio pf 8615 Bamberger pt (614) 161 Barker Brothers pf. 5% Barnsdall Corp. 23 Bayuk Cigar (g1). 10y Beatrice Creamery.. 87 Belding-Hem (h50¢) 95% Belg Nat pt pf(7.02) 9%, Bendix Aviation. ... 123 Beneficial Loan 13%. 26 Best&Co (1%). 241 Bethlehem Steel 547 Beth Stl pf (1%). 24 14% 16% 101% 36 .. 6 42% 16 11% 16 16 36% 30% 67% 9% 24% 10 56 23%, 28% 1% 250 26 - avfaaBanana 6% Boeing Aeroplane. . 44% Bohn Alumn& Br(3) 19% Borden Co (1.60)... 16% Borg Warner (11%) 7 Botany Mines A (k) 12 Briggs Mfg (11%). 14 Briggs&Straton (2) 26 Bristol-Myers 12.40 28% Bklyn-Man T(h75¢) 821 Bklyn-Man T pf (6) " R e 5D e 5N O R0 ® S 118Y% Brown Shoe pf (7) 3'4 Bucyrus-Erie. .. 3 Budd (EG) Mfg 16 Budd (EG) Mfg pf. 2 Budd Wheel. Bullard Co 27% Bulova Watch 1 Burns Bros (B)... 4 BurnsBrospf..... 10% Burr Add M (nt65c) % Bush Terminal (k). 5% Bush Tr Bldg pf ct. 1% Butterick Co.. 13% Byers (A M) 18% California Pkg(13%) 1 Callahan Zinc. . . 2% Calumet & Hecla. . . 12% Canada Dry G A (1) 107 Canadian Pacific. . . 26% Cap Admin pf A (3) 35 Case (JI)Co.....o 567 Case (J I) pt (4) 23 Caterpillar Tr t1%. 17% Celanese Corp. 1% Celotex Co (k) 6% Celotex Zo pt ( 18% Cent Aguire (1%)..x 514 Century Rio Mills. . 30% Cerro de Pasco (2).. 8% Certain-teed Prod. .. 3915 Ches & Ohio (2.80).. 84 Ches-Corp (2%)...3 1% Chi & ETil pf (K)... 1% Chi Great Western 4 ChiGreat West pf 21 Chi Mil St P & Pac 8% Chi Mil St P&P pf.. 4% Chi & Northwestern 81 Chi & Northwest pf. 3% Chi Pneumatic Tool 14% Chi Pneu Tool pf... 19% Chickasha C O (2).. 29% Chrysler Corp t1% .. 173 City Ice & Fuel (2). 1 City Stores. .. % City Stores ctfs. 2% City Stores (A). 2 City Stores(A)ctfs.. 24% Cluett-Peabody (1). 95 Cluett-Peab'y pf (7) 95% Coca-Cola (17) 50% Coca-Cola (A) 9% Colgate-P-P (115¢). 68 Colg-Palm-P pf (6). 10 Collins & Alkman. . 3% Colo Fuel & Iron (k) 10% Colo Fuel & Ir pf (k) 67 Col Gas & Elec..... 52 Col G & El pf A (6). 21% Colum Pic vte(m1).. 58 Colum Carb (13.60). 18% Comel Credit (2). .. - 3 o N3 23 @ 2 5408 3 136 » Se MO e 00 08 S RS 0 00 N 1 O - re R D A 20s 109% 30s 30 568 91% Comel C 1st pf(634) 24 Comcl Credit(B)(2) 35% Comcl Inv Tr(12%) 15% Comecl Solv (60¢). .. 1 Comwlth & South. ., 213 Comwlth & S pf (6). 22 Congoleum-N (12).. 4% Congress Cigar. 514 Consol Cigar. .. 45% Con Cg pr pf ww sl/, 1% Consol Film. 10% Consol Film p: 21% Consol Gas N Y (2 80 Consol Gas pf (5) 3% Consol Oil (h42¢) <. 21 Consol R R Cuba pf. 1 Consol Textile...... 6% Container Corp (A). 2% Container Corp (B). 5% Contl Baking (A)... % Contl Baking (B).. 44Y% Contl Baking pf (4) 56% Contl Can (2.40) 23% Contl Insur % Contl Motor: 15% Contl O Del (h50¢).. 40% Corn Ex Bk & Tr(3) [ 1% 44 624 160% 5% 35% 181 135 Corn Products nf(") 3% Coty IncC.......... 28 Cream of Wht m. E 8 Crosley Radio. A. Add 00. High. Low. Close. Chge. 3 Th 6% — % 84% — ¥ 8% i § 109% — % 1% 18% - % 3% 1 ssrepdesearer & L +++++++++++44 L l+++trttt EFEFF B ¥ EERFEES FEF EFFL 1+++14 + +++1 1010 ERPFIFEE FREFEE ¥ FREFEFEF REFEF F FFE FREFESE Bl% +1 11-.+h ah- 1 - % - % 15% — % 215 — % 21 +1 1% — % 139 + % 36% + % K 3 15% — % 11% — % 3475 +38 521 — % 92 + 4 35% + % 32U + % 4 —14 18% —1% .T FE P OFEFEF % Kl FEE & F¥FE FEEF £ 13% + ¥ Previous o~ 1934 — High. 36% 6% R8% Stocks and Low. _ Stocks and dividends, 18% Crown Cork & S (1). 85% Crown C&S pf(2.70) 3% Crown-Zellerback. , 17 Crucible Steel...... 44 Cructble Steel pf..« 1 Cuba Co. 3% Cuban-Am Sugar 0% 104 Deere & Co of (40¢). 85 Delaware & Hudson. 83% 14 Del Lack & West... 21 108%™ 107 24% 28% 23 14% 274 18 65 50% 20 11% 43% 28% 4% 108% 103 6% 12 1 125% 3% 10% 13 4 Den&RG Wopt. 63 Detroit Edison (4). 29 Devoe& R (A)(12).x 99 Devoe & R 15t pf(7) x I 21 Diamond Match (1). 32 Dome Mines (13% ). 11 Dominion Strs(1.20) 14% Douglas Aireraft. .. 80 Dupontde N (13%). 90 Duguesne Lt 1st (5) 79 EastmanK (t4%) 12% Eaton Mfg (1).. 6 Eitington-Schild. 16 Electric Auto Lite. 80 Elec Auto Lite pf 38 Electric Boat. 4% E1&Mus Ind(h: 2% Elec Pwr & Light. 6 Elec Pwr&Lt 36 pf.. 6% Elec Pwr&Lt §7 pf. 84 Elec Stor Bat (2%). 1 Elk Horn Coal pf(k) 10% Eng Pub Sve $5 pf.. 11 EngPS$5.50 pf ww 5 Equit Office Bld. 9% Erie RR... 14% Erie R R 1st pf. 9 ErieRR2dpf 7 Eureka Vac Cl 9 Evans Auto P(50c). 7 Fairbanks-Morse. .. 30 Fairbanks-Mrs pf 4 Fed Lt&Trac...... 343 Fed Lt&Trac pf(6). 2% Fed Motor Truck. .. 1 Fed Water Sve (A). 23% Fid Ph F In (1.20).. 87 Filene's pf (6%). 13% Firestqne (40c)....: 71 Firestone pf A(6).. 54y First Nat Strs(233). 2 Follansbee Bros (k) 814 Foster-Wheeler 173 Fourth N Inv(h85 8% Fox Film (A). 21% Freeport-Texas 2). 8% Gamewell Co....... 5% Gen Am Investors.. 30 Gen Am Trans(1%) 12 Gen Asphalt....... 614 Gen Baking (h65¢) » 100 Gen Baking pf (l) .. 6 Gen Bronze. 2% Gen Cable.. 43 Gen Cable (A) 14% Gen Cable pt. 16% Gen Electric ( 11% Gen Elec Spe (60¢) . 28 Gen Foods (1.80)... % Gen Gas & El (A) 11 GenG&ET% pfA. 13 Gen G&E8% pf(A) 51 Gen Mills (3).. 24% Gen Motors (1135).: 89% Gen Motors pf (5) .. 31% Gen Outdoors Adv.. 8% Gen Outdoors AdvA 10% Gen Print Ink (f1). 2 Gen Public Service. 23% Gen Ry Signal (1).. 1 Gen Realty & Util... 10 Gen Refrac ctfs.... 81% Gillett Saf Ras (1). 47 Gillette Saf R pf(5). 2% Gimbel Bros. . 16% Gimbel Bros pf. . 15% Glidden Co (11.30).. 83 Glidden Co pr pf (7) 3% Gobel (Adolf). . 16 Gold Dust (1.20). 96% Gold Dust pf (6). 8 Goodrich (BF).. 35% Goodrich (BF) pf.. 181 Goodyear T & Rub.. 64 Goodyear $7 pf (4).. 3% Gotham Silk Hose. . 38% Gotham S H pf (7). 1% Graham-Paige. . 4 Granby Consol. 4 Grand Union. 21 Granite City St1 (1) 28 Grant (WT) (1) 12% Great Northern pf.. 8% Grt Nor Oreg(h50c). 26 Grt West Sug(2.40). % Guantanamo Sugar. 12 Gulf Mobile&N pf.. 20% Hackensack W(1%3) 314 Hahn Dept Stores. .. 25% Hahn Dpt Stores pf. 3% Hall W F Printing. . 84 Hanna (M A) pf (T) 13 Harb Walker (50c). 114 Hat Corp (A) 19% Hat Corp pf.. 3 Havana Elec Ry pf. 1% Hayes Body....... 59 Hercules Pw (13%) 111 Hercules P pf (7).. 48% Hershey Choc (3) 4% Holland Furnace... 5% Holland & Son (50¢) 430% 310 Homestake M (130). 32% 8% % 57% 24% % 11 Houd-Hersh A j2%. 2% Houdaille-Hersh B 2% Houston Oil (new. 35% Howe Sound (3).... 6% Hudson Motor Car. 1% Hupp Motor: —_— 38% 50 4% 30% 8% 49% 4% 16% 5% 1% su\ 3T% 164 12% 8T% 46% 137 % 29% 2% 24% 98 22% 50 17% 16% 85% 13% Illinots Central. ... 22 Illinois Central pf.. 214 Indian Refining.. *. 19% Indus Rayon (1.68). 49% Ingersoll-Rand(t4). 34% Inland Steel (h50c). 23 Insur-Sh ct MA(10c) 5% Interboro RpTr(k). 2% Intercontl Rubber.. 4 Interlake Iron. 2 Int Agriculture 15 Int Agriculture pf.. 131 Int Bus Mach (p6).. 43 Int-Carriers Ltd 20¢ 18% Int Cement (h25c).. 233 Int Harvester (60c) 110 Int Harvester pf(7) 23 Int Hydro Elec (A). 214 Int Merch Marine. . 21 Int Nick Can (60c). % Int Paper & Pw (C). 814 Int Paper & Pw pf.. 66 Int Print Ink pf (6). 78 Int Rys Cent Am pf. 38 Int Shoe (2) 73 Int Tel & Tel 31 Interstate Dept Strs 24% Island Ck Coal (h3) —————— 7% 665 121 kg 33 Jewel Tea (13%)... 39 Johns-Manville.... 101 Johns-Manv pf (7). 45 Jones&Laugh 7%pf P ———— 114% 97% Kan C P&L1st pf(6) 6% Kans City Southern 6 KaufmannDeptS40c 1% Kelly Spring Tire. . 5 Kelly Sp Tire 6% pf 3 Kelsey-Hayes (A).. 11% Kelvinator (170c).. 65% Kendall pf (16.92).. 16 Kennecott (h45¢c) 13% Kresge (8S) (1). 23% Kroger Gr&Bk 1.60. —_— 20 LacledeGasStL... 22% Lambert Co (3) - 7 Lee Rub&Tire(40c). 9% Lehigh Valley RR., 11% Lehn & Fink (1%).. 22% Lib O-Ford G1(1.20) 17% Life Saver (1.60)... 73 Ligg & Myers (15).. 74% Ligg & Myers B(15) 15% Lima Locomotive. .. 11% Link Belt (40c) 16% Liquid Carb (11 20% Loew’s Inc (11%) 1% LoftIne........ 1 Long Bell Lum (A). 83Y% Loose-Wiles (2)...: 156% Lorillard P (12.20).. 1 Louisiana Oil...... 12% Louisv GEE(A)1%. 8% Ludlum Steel...... 1% McCrory Strs A (k). 1% McCrory Strs B (k). 5% McCrory Strs pf (k) 38% McIntyre Porcu (2). 79 McKeesport T P (4) 4% McKesson & Rob... 11% McKesson & Rob pf. 1 McLellan Stores (k) 22 Mack Truck (1).... 35% Macy (R H)& Co(2) 2:30 p.m. Sales— - » - anc- OO RNOR 1000 0 TN O e 3= 14°109% 108% 108% 15 18% 17 18 - O 8O 8 B 1 O G e O =% o RoawSuren o= BanNEowmmnts 93% 9:% 98% 101105 105 105 % 2614 4% 42 5 22% B7% 1 5 21% 944 2% 13% 1SVA » "t 109 2 62% 119 56 114 3 84 8% 1% 8% 6% 17T% 94 17% 20% 51% 119 54 118% 8% 8% 1% 8% 6% 15% 94 16% 20% 28% 21 27% 11% 10% 16% 28 21% 101% 102% 20% 16% 28% 35% 1% 2% 3% 19% 1 12% 1 Low. Close. Chge. 4% -1% 25 42 5 22% + % 59 +2 1 =W 5 =% 21% - W Uh - % 2% 9 16% - % 24% - % 18% + % 2% - % 18% + % 4 ¥ FlH 144+ 4+ Ll++4+ 8% T 8en 15% T 106 6 3% 5% 264 19% 124 345 % 13% 154 608 31% 109 FEFEFFEEEFEEFE S U ol et R S o © 1+ ++ + E¥F OFEEF 3 Y @ okl b ekt b ] FEEFPEFEFFE FF FFEE F OFES F 3 ) [ 17 +1% M +2 1T% + % 20% + % 28% + % 24 44 21% — % 1% + % 10% + % 16% + % 28% + % 21% - % 101% —2% 103 +1% 204 - % 16% 25% — % Previous — 1034 — High. Low. 7 2% Madison Sq Garden. 238% 15% Magma Copper (2) 4% 1% Mallison & Co.. 33% 7% Mallison & Co pf... 9% 1% Manati Sugar pf (k) 29% 10% Man Elevm g (k)... 10% Manhat Shirt (60c). 1% Maracaibo Ofl Exp. 4% Marancha Corp 5% Marine Midld (40c). 4% Market St Ry pr pf. “0! 8% Marshall Field. 4 Martin Parry.... 28% Mathieson Alk(1 %) 80 May Dept Str (1.60). 4% Maytag Co......... 10 Maytag pf ww j1%. 49 Maytag 1stpf (6)... 26 Melville Shoe (2) 3% Mengel Co........0 20% Mesta Mch (1%) n 21 M-G-M Pic pf(1.89). 3 Miami Copper. 9% Mid-Cont Pet (h! 6% Midland Steel Prod. 44 Mid StIP1stpf (4). 36 Minn-Hon Reg (13). 1% Minn Moline Pow... 15% Minn Moline Pow pf 1% MStP&SSMpf.., 4% Mo Kan & Texas. .. 18% Mo Kan & Texas pf. 1% Mo Pacific (k). 2% Mo Pacific pf (k! 39 Monsanto C (t1%). 20 Montgomery Ward. 87 Morrell(J)&Co 3.60. % Mother Lode. 15% Motor Products. 6% Motor Wheel 5% Mullins Mfg.. 12% Mullins Mfg pf 3% Murray Corp. . 2:30 p.m. Sales— % 9 82l 12% Nash Motors (1) 46 19% ) 8% 3% 18% 5% ) 12% 3% Nat Bellas H p: (k) 49% 25% Nat Biscuit (2)....; 148 131 Nat Biscult pf (7).. 23% 12 Nat Cash Reg A 50c 18% 13 Nat Dairy Prod 1.20 3% 1 Nat Dept Store (k). 28% 6 NatDp St 1st pf(k). 660- 31% 16 Nat Distillers.... 3 32% 16% Nat En & Stpg (h1) x 170 135 Nat Lead (5) 145% 122 Nat Lead pf (A) (7). 121% 100% Nat Lead pf (B)(6). 15% 6% Nat Pwr & Lt (80¢c). 2% 1 NatRy Mex st pf.. 684 34% Nat Steel (1).. 10 Nat Supply Co. 60 331 Nat Supply pf.... 5% Newport Industries 11% N Y Air Brake. 18% New York Central 9 NY Chicago & St L. 168 NYC&StLpf..... 139 108 14 244 37% 11% 22% 89% 99 109% 45% 100 8% 25% 45 T4% 364 N Y & Harlem (5) % N Y Investors (k). 7% N Y N H & Hartfor IMNYNH&HD!.... 4% N Y Ontario & West 91 N Y Shipbldg (40c). 72 N Y Shipbldg pf(7). 73 N Y Steam pf (6)... 90 N Y Steam 1st (7).. 30% Noranda Mines (h2) 82 Norf & West pf (4). 2% North Am Aviation. 10% North Amer (1)... 34 North Am Co pf 47% North Am Ed pf (6) 14% Northern Pacific. . . 4% 1% Norwalk Tire&Rub. 404 29% NorwalkT&R pf 3% —_— 15% 8% Ohio Ofl (hd5c).... 7 2 Oliver Farm Equip. 27% 9 Oliver FEqprpfA. 14% 5% Oppenheim Collins. 19% 13% Otis Elevator (60c). 8 3% Otis Steel..... 25 9 Otis Steel pr pf. 47 32% Outlet Co (2 94 60 Owens-Ill Glass — 6% 1% Pacific Coast 12% PacificG & E (1%). 20% Pacific Lighting (3) 19 Pacific Mills (h50c) 70% Pacific Tel & Tel (6) 2% Packard Motor. . ... % Panhandle Prod&R. 1% Par-Publix ctfs(k). 17 Park & Tilford 2% Park Utah. 3% Parmelee Trans 1 Pathe Exchange. .. 10% Pathe Exchange(A) 1% Peerless Motor...., 44% Pennick & Ford (3). 613 Penney (J C) t4.40. 2% Penn Dixie Cement. 20% Penn R R (hl)..... 21 Peoples Drug S (13) 86 PeoDrug S pf (6%) 19% Peoples Gas Chi.... 9% Pet Milk (1).. 13% Phelps Dodge(h75¢c) 24% Phila Co $6 pf (3). 3% Phila& Read C& I 11% Philip Morris (1)... 13% Phillips Petrol (1). % Plerce-Arrow (k). 13 Pierce Oil. .. 7% Pittsburgh Coal 4% Pitts Screw & Bolt. 25% Pitts United Cpf... 8 Plymouth Oil g75¢. 6 Poor & Co (B).. 10% Postal Tel & Ca pf. 1% Pressed Stl Car (k). 5% Pressed Stl C pf (k) 3834 Proc & Gamb 11.70. 26 Pub Serv NJ (2.80), 67 Pub Serv N J pf (5). 79 Pub Serv N J pf (6). 35% Pullman Inc (3) 6% Pure Oil. 49 Pure Oil pf 8% Purity Bakeries (1) 4% Radio Corporation 28% Radio Corp pf (A) 15 Radio Corp pf (B) 1% Radio-Keith-Or (k. 35% Reading (2 29% Reading 2d p: (2 1% Reis (Robert) 6 Remington-Rand. 32% Remington-R 1st pt. 2 Reo Motor Car 10% Republic Steel 33% Republic Steel pf. 46 Revere Cop & Br pf. 100s 39% Reynolds Tob B (3) x ll 20% Roan Antelope Ltd. 28% Royal D(h1.35 3-10) l 38Y% Safeway Stores (3). 9814 Safeway Strs pf (7) 15Y% St Joseph L (h30c).. 1% St L San Fran (k) 1% St L San F pf (k).. 17% Schenley Distillers. 3 Schulte Retail Strs. 15 Schulte Re Strs pf. 41 Scott Paper (11.95). % Seaboard Air L (k). 20% Seab’d Oil(Del) (1) 214 Seagrave Corp..... CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, December 17.—The following is today’s summary of cor- poration news prepared by Standard Statistics Co., Inc., New York. Sperry Corp.—Declared an initial dividend of 25 cents out of 1934 earn- ings on voting trust certificates for common stock. Ford Motor Co—Company an- nounced that its new 1935 Ford V-8 is in production and will be shown publicly by dealers on December 29, 1934. Nash Motors Co.—Announced Jan- uary production schedule calls for about $7,000,000 worth of Nash and Lafayette aut iles, against un- filled orders received from distributors. Crosley Radio Corp.—Was said to be selling more radios this December than since 1928, its record year; more DIVI&M H.lu Add 00 M Previous ~~ 1934 — 5% + 20 + 1% 16% — 3% — 26% + 13 1% 5 ol% % 9 49 13% 11% 12% 4% 17% 19% EEFF ¥ 17 17 33 ERFEFFFEFEESESSLESE ¥ 3 16% 5% 15% 6% 29% 43% 9% 39 4 8% P FEE FEFFE FETF FEF &8 > * PEF ¥ FEFEE 5% +1 1+ sy ) (REESE AR F FE FEEFEFF 22% T 22% 33% % 4T 47N ™ 112% 112% 17% 174 + 1% 1% - 1% 1% + 26% 25% + 3% 17% 60 cash S 4% 5% FFE FESESEFL uvuuucnu Rllh Low. s Uni 9%in stoc) oy st 'h 8 Palg in fock b Plus 3% 1’ siock™ 3 vidend Rate, 31 Sears Roebuck 13 Second Nat Invi 4% Servel Inc......... 38% Sharp & D pf (3%). 6% Shattuc’t (FG) 26e.. 6 Shell Union Oil..... 8 Silver King C M 40c 8% Stinmons Co. 7% Simms Pet (h! 6% Snider Packing 9% 12% Socony-Vac (60c).. 86 SolvAmpfwwb5%. 9% 21 So Por Rico Sug (2). 10% South Cal Bd (1%). 14% Southern Pacific... 11% Southern Railway.. 14 Southern Rwy pf... 2% Sparks-Withington 2 Spear&Co........ 15% Spencer Kellog 1.60. 5% Sperry Corp. . 21% Spicer Mfg p! 19 Spiegel-May:- Stern.. 17% Stand Brands (1)... 14; 121% Stand Brands pt (7) 3 Stand Com Tobacco. 4% Stand Gas & Elec... 6% Stand G & E14% pf. 11% Stand G & E1 6% pf. 18% Stand G & E1 7% pf. % Stand Invest Corp.. 26% Stand Oil of Cal (1). 96% Stand Oil Exp pf(5) 23% Stand Oil of Ind (1) 39Y% Stand OII N J(11%) 6 Starrett L 8 (h50c).x 47% Sterling Prod(3.80). 1% Sterling Secur (A). 4% Stewart-Warner. 4% Stone & Webster. 1% Studebaker (k) . 51% Sun Oll (31).. 1]8 100 Sun Oil pf (0) 1% Superior Oil 4% Buperior Steel 1% Symington (A 7% Telautograph (1). 3% Tennessee Corp. 19% Texas Corp (1). 30 Tex Gulf Sulph (2) . 13% Texas& PacRR., 214 Tex Pac Coal & Oil.. 6% Tex Pac Land Trust 8 Thatch Mfg (h25c). 4 Third Avenue. 10 Thompson Products 1% Thompson Starrett. 8 Tide Water Asso. 641 Tide W A pf (8% 80 Tide Wat Oil pf (5 3% Timken-Detroft 24 TimkenR B (11 . 5% Transamerica h25c. 3% Tri-Contl Corp. 1% Truax-Traer Coal 3% Truscon Steel. . 6 TwinCity RT pf. 1 Ulen & Co. 36 Und-Ell-Fisher (2). 85% Un Carbide & C 1.40. 11% Un Oil of Calif (1). 90 Union Pacific (6)... 71% Union Pacific pf (4). 15% Un Tank Car (1.20). 84 United Afrcraft. ... 3% United Air Lines&T 21% Unit Biscuit(1.60).. 85 United Carb (2.40). 2% United Corporation. 247 United Corp pf (3). 9% United Drug... 3% United Elec Coal. 59 United Fruit (3) 11% Unit Gas Imp (1.20) 4 Unit Piece Dye Wks 6 US & For'n Secur. . 63% U S & For 1st pf (6) 4% U S Gypsum (t1%) 4% U S Hoffman....... 32 U SIndus Alcohol.. 7 US Leather (A)... 15% U S Pipe & F (50c) . 16% U S P&F 1st pf1.20. 4 US Realty & Impr. 11 U S Rubber, . 24% U S Rubber 96% U S Smelt & R (h9 54% USSm&R DL (3%) 29% United States Steel. 67% U S Steel pt (2).... 126 U S Tobacco pf (7). 2% United Stores (A).. 54 Unit Stores pf(3%) 40% Univ Leaf Tob (13) 112% Unv Leaf Tob pf(8) % Univ Pipe & Rad. .. 4% Univ Pipe & Rad pf. 1% Util Pwr & Lt (A).. ——— % Vadsco Sales Corp. 14 Vanadium Corp ck Chem (12.40). -Car Chemical... 10 Va-Car Chem 6% pf 65 Va El & Pwrpt (6). 52 Vulcan Detin (h3).. ——— 2% Wabash pt (A) (k). 1% Wabash pt B (k)... 4 Waldorf Sys (h20c) 2} Walworth Co. 24 Ward Baking pf (2) 2% Warner Bros Pic... 16 w.rner Bros Pic pf. ner-Quinlan. Sk ann Bros... 81 Warren Bros cv pf.. 13% Warren F & P (h1). 15% Wesson O & S (11).. 52 Wesson O & S pf(4) 45 West Pa Elec pt (6) 51% West Pa Elec pf (1) 89'% West PennPw pf(7) 1% Western Dairy pf A 1 Western Dairy pf B T Western Maryland.. 2% Western Pacific.... 4% Western Pacific pf. 29% Western Union.... 15% Westingh'se AB 50¢ 27% Westinghouse Elec. 82 Westingh'se 1st 335 14% Westvaco Chl (40c) 11% Wheeling Steel. 34 Wheeling Steel p 21% White Rock M S ( 2 Wilcox Oil & Ga 4% Wilson & Co. . 12% Wilson & Co (A)... 53 Wilson & Co pf (J'l) 41% Woolworth (2.40).. 31% Worth Pump pf A.. 16% Wright Aero..... 54% Wrigley (W jr) fl % 14 Yale & Towne (60c) 2% Yellow Truck...... 13 Young Sp&W (11 K) 12% Youngstown S& T. 3% Zonite Products + 270,000 62¢ 0 t of trading less than 100 Iut r W oy yeal reorganized. 5 o stock- 4 SR 31 13 1 o W ©mm g o o T S T L T ou ke Sateit™auartens 5 B 40 1% Th 4b% 9% . ‘rh + + = FFE F FEFESEFEFFERE 18% 126 125 126 + % 3% 5 5% 13 14% 1% 29% 110 24% *- 9% 3 7 33% 23% 339 89 20% 1% 39% 3% 5 18 1% 58% 46 15% 106% 85% 28% 14% 5% 25 49% 3 26 12% &mdsmmmflw!«x change. 11:00 AM. 2 i 1:00 P.M Dividend rates as g declarati .’m: e - % +1% + % + % 43 + % £ -% + % + W + % + % FEEFEEF FFEEFES F OEE F F OFPEFE the annual -yearly 1t Partly T rate. :’l}%lh'lcn- nuu"" selling in larger numbers than the cheaper midget sets. Carnation Co.—Declared a dividend of 50 cents on common stock and a regular quarterly dividend of $1.75 on preferred stock; it was said dividends have been fully earned. Aluminum Co. of America—Declared a dividend of 25 cents on account of accumulations and a quarterly divi- dend of 37% cents on preferred stock; as of January 1, 1935, arrears on this issue amounted to $11.75 a share. 31, was $221,682, vs. $321,519. Glidden Co.—November sales were said to have been 20 per cent above those of November, 1933; paint and varnish division recorded a gain of 27 per cent. Great Northern Ry.—Proposeg to air condition all passenger equipment on the Empire Builder, comprising total of 43 Pullman cars. Seaboard Airline Ry.—L C. C. de- nied application of this company for permission to abandon operation of the 192-mile Georgia, Florida & Ala- bama R. R. Studebaker Corp.—Loss of company for 1934, on a recei accounting basis, was estimated in excess of $1,000,000. 44% + %' expensive models are reported to be Southern Pacific Co—It was said company has no plans for further borrowings in 1935; aside from pay- ments due on R. F. C. notes and equipment trust certificates, road has no important 1935 maturities and ap- pears to have ample working for 1935. oSt Liquid Carbonic Corp.—Sales of company in October and November, 1934, were 20 per cent ahead of like period of 1933; carbonic gas in both liquid and solid form is contributing bulk of current sales, it was stated, and equipment and machinery lines NEW Decembe: @.—Call money m:dy "L per cent %.‘Fl.l:l mbun“n steady; 60 day- a’ months, mhl pape S s Beab TR e e'm Rev Yok Reserve T0 NARROW RANGE Some Utilities, Specialties and Metals Gain in Quiet Trading. BY VICTOR EUBANK, Associated Press Pinancial Writer., NEW YORK, December 17.—Some of the metals, utilities and specialties were higher on the Stock Exchange today, but the general run of indus- trials and rails were narrow. Trading was rather quiet, with the late tone steady. American Telephone and General Motors were about even, while United States Steel was slightly lower. North American, United States Smeit- ing, Cerro de Pasco and McCrory Stores got up a point or more each. Transfers approximated 870,000 shares. ‘There was little change in the mar- ket picture, generally. Most of the grains were inclined to dip and cotton did virtually nothing. Foreign ex- changes were mixed. Sterling was heavy, while the gold currencies were a bit improved. The Shanghai dol- lar was reactionary on rumors that the Chinese government was considering devaluing this exchange 25 per cent. New tops for the year were re- corded by shares of Philip Morris, McCrory Stores and Interboro Rapid Transit with advances of about a point each. American Woolen prc- ferred moved up nearly 3 points, U. § Smelting was 2 higher, and American Smelting, Cerro de Pasco and Howe Sound were fractionally to more than a point firmer. North American and Consolidated Gas were around = point each better, while American ‘Water Works, American Telephone, Public Service of New Jersey and Western Union were improved. Cel- anese, General Motors, Bethlehem Steel, Hudson Motor, Westinghouse, Montgomery Ward, Loew’s and Liggett & Myers B showed modest gains. The rails were almost unchanged and the ofls were easier. Attention was attracted to several of the power stocks followirg appli- ganization for increased rates to take care of a substantial increase in emer- gency taxes. Some activity in the metals was attributed to a mild revival of infla- tionary psychology, based partly on the belief that the next Congress. at least, will give this subject serious consideration, despite efforts of ad- ministration leaders to tone down radical currency talk. ——— INVESTMENT TRUSTS NEW YORK. December 17 (#.—New York Security Dealers’ Association: " (Noon Quotations.) Bid. Admin Pund ww . 14.37 Am Bankstocks Am Business Shrs Bullock Fung Sumesistive T sh Corporate Trust Corporate Truu AA Corp Tr A A Corporate Tf Accum Ser Gorp Tr Accum Ser mod Depos Bk Sh N Y Asked 15.29 Fund Investors inc Fund Tr Shrs Fund Tr Shrs B Incorp lnvesr.orll nd_A Quarterly Inc Snrs seec AR !h Inc.. Selected Cumul Sh Selected Income Sh Spencer Trask Fund slnng Am Tr Shrs an Sipervised hrs Trust Pund Shr: Trusteed Tndustry shrs Trusteed N Y Bk Trusteed Am Bk Steel Holders Increase. NEW YORK, December 17 (#).— There were 191,797 holders of United States Steel Corp. common stock at the beginning of December, an in- crease of 24 from September 1, when there were 191,773 owners of the com- mon. On December 1, 1933, the num- ber was 187,120. BONDS and ANNUITIES Thomas L. Hume, Jr. Investments 1426 G St. NW. NAt 0015 ~ A P\‘N” r//ng A Christmas Gift « .. that will grow and give lasting satisfaction —to the recipient is A SAVINGS AC- COUNT, such as is provided by the Building and Loan Plan of Saving! ® Thrift recommends that you use some of your Christmas rmoney to open such an account . . . give your- self a gift that will start you on the way to contentment and financial independence! We Pay 5% —compounded semi-annually from the date of payment to the date of withdrawal. @ You can open a Savings Account IN ANY AMOUNT and you'll always find, at “The Fidel & friendly spirit of helpfulness and co-operation. The Fidelity Building & Loan Association