Evening Star Newspaper, December 18, 1934, Page 16

A—16 #*¥¥ FINANCIAL. THE EVENING STAR, WA'SHINGTON, D. C, TUESDAY, DECEMBER 18, 1934 FINANCIAL, BANKSTOSTART || TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE |[STOCKSBEATTINE EARLIER CLOSNGS . == - IN NARROW RANGE New Uniform Schedule Ends] "* ‘f‘* f;gmfi%%};{m, Prices. Tend to Improve Day at 2 P.M., Beginning Near Close After Early January 2. Irregularity. Previous 2:30 p.m. Previous 2:30 .m. 1034 — Stocks and Sales— High. Low, Dividend Rate. Add 00. High. 89 * 67 Shell Union Oil pf.. 1 12% 8 Silver King C M 40c 24% 8% Simmons Co......e 17% 7% Simms Pet (h55¢c).. 19% 6% Snider Packing.... 19% 12% Socony-Vae (60c).. 107% 86 SolvAmptwwil%. 39% 21 So Por Rico Sug (2). 22% 10% South CalEd (13%). 83% 14% Southern Pacific. .« 2:30 p.m. Stocks and Sales— Dividend Rate, _Add 00. High. 10s 110 Previous S Stocks and Stocks and Ned Low. Close. Chge. 68 68 10% 10% — 9% 15% 15% + 18% 18% + 14% 13% 14% + 108 108 108 4 2 22 22 11% ll‘- 11% - 17% ous Net ,-m:u—\ Low. Close, Chge. 10 110 +1% 6% 6% 8% + W 7 High. Low, 21% 11 Cutler Hammer.... - 10% Deere & CO.vuvuvnes 10% Deere & Co pf (40¢). 85 Delaware & Hudson. 14 Del Lack & West. .. 6314 Detroit Edison (4).: 29 Devoe& R (A)(12)u 21 Diamond Match (1). Net_ Stocks and dividends, High. Low.” Close. Chge. 2 4% 4% 4N+ % 33 33 + % 82 82 -1% 4% A% = T 26% 16 + % 10 Maytag pf ww jll. 49 Maytag 1st pf (6)... 3% Mengel Co...... 27 Merch & M Tr(1. 60) 26% —1% 20% Mesta Mch (1%) n 24% 24% = % 21 M-G-M Pic pf(1.89). 27% 27% 3 Miami Copper...... 3 3 3 9% Mid-Cont Pet(h50¢). 12 8% 13 7 24% 109% + % 91% Air Reduct’n t4%.. 1% Airway Elec Appli % 16% Alaska Jun (11.20). 3% Albany Wrap Paper. 1% Alleg Corp (K)..... e - -% BY EDWARD C. STONE. Two weeks from tomorrow, Janu- ary 2, 1935, all the banks in Wash- ington will adopt & new schedule and close at 2 p.m. daily. Under the new hours the banks will open their doors at 8:30, as practically all of them do now. The doors will close at 2 o'clock every day except on Government pay days, when they will remain epen for the convenience of Government workers until 5:30, The days referred to are the 15th and last business day of each month. On Saturdays the banks in the city will close at 12 noon. Arrange- ments are already completed for adoption of the uniform hours. The most important point for depositors to remember is the hour earlier clos- ing in the afternoon. The hours on pay days and Saturdays are the same as now in force. The new hours were suggested by the Washington Clearing House As- sociation after long and careful con- sideration. The new hours have been in operation in Baltimore, Rich- mond and many other cities of about the sgme size as Washington and have proved highly satisfactory. They are expected to prove equally popular here. The new plan will give bank offi- cials and other employes en uninter- Tupted opportunity to finish up each day’s business earlier than they can now. Few customers realize how much work has to be done in a bank after the doors are closed and no more money is taken in or paid out. It was said today that officials will probably take shorter lunch pe- riods in order to meet patrons who are particularly anxious to see them on business between 12 and 1 o'clock. Rush for Winter Goods. Latest reports from the Richmond Federal Reserve Bank indicate that holiday trade in this district will be the best in the past five years. The cold weather last week started the de- mand for heavy Winter goods, the only lines that had not been moving rapidly during the past month. Heavy ‘Winter apparel suddenly jumped into lively demand, adding the final touch to the tremendous trade pace set in other lines. A marked increase in building per- mits issued in the fifth Reserve dis- trict is also reported. For November, the value of work authorized in this district amounted $3,014.411, an in- crease of 927 per cent over the $1,564,551 figure in November, 1933. ‘This situation has greatly improved the outlook for employment. An im- proved demand for fuel is also proving most helpful in the mining districts. According to the Richmond bank, trade in the fifth district up to De- cember 1 was 18 per cent ahead of the corresponding 11 months in 1933. It is now expected to end the year more than 20 per cent above last year's figures. One Test for Rate Policy. “One of the peculiar things about our national transportation policy is the basing of rates on the financial yequirements of the roads.” says Sphere. “There ought to be only one supreme test for a rate policy, and that is to keep the rates in balance with the general economic price level. To attempt to raise rates when they are already more than 20 per cent above that level is suicidal. It merely discourages traffic or drives it into competitive channels. “If there is any one thing the Gov- ernment ought to do it is to require transport costs that are in consonance with conditions. If that means deficits the Government, as a corollary of its regulation, should shoulder the cost. ‘Were there open competition in the rajlroad world no such rate levels as now exist would be operative, and it would be at least as cheap for a couple to travel by rail as by motor. “There is a definite passing from the period of business stimulation by fright (inflation) into the sound prac- tice of creating business by going after it on the basis of value received. This is really a flight from emotionalism into reality. Moreover, there is plenty of business for those who go after it on this realistic basis,” the magazine asserts. Renovising Loans Increase. Interest in renovising loans in ‘Washington continues to furnish one of the surprises of the year. J. How- ard Audrey, deputy Federal housing administrator, reports that this city is leading the country in the number and amount of these loans per capita, Up to December 7 Washington banks had made 780 such loans, to- taling $415,120.44. Many more have been made since that date, bank offi- cials say. Building and loan associa- tions have granted 681 applications involving a total of $379,500. And the demand is still holding up. The mortgage loan field is also showing a pick-up under title 2 and 3 of the Federal housing act. Bankers reported today that they are receiv- ing many applications. This service has just been started. From the num- ber of inquiries, local financiers pre- dict a big demand ahead for this type of financing. Today's Trading on Exchange. Potomac Electric Power Consolidated 5s opened trading on the Washington Exchange today, one $1,000 bond mov- ing at 105. Washington Railway & Electric 4s came out a $500 sale at 9815. In the stock division a small lot of Railway & Electric preferred sold at 100%. The first sale in Emer- son Bromo Seltzer “A" stock took place today at 22. As reported by Waggaman, Brawner & Co., Inc., the New York banks are declaring their dividends for the last quarter of this year and checks to the many stockholders in Washington will be received the first of the new year, With one exception, the regular divi dends are being paid. Bank of Man- hattan reduced the rate from $2 to $1.50 per annum. Chase and National City have changed their payments to semi-annually and the next disburse- ment is not due until February 1. The First National's $25 payment is the largest one ordered. The United States Trust will pay $15 a share, Manufacturers’, 25 cents; Central Hanover, $1.50; Bank of New York, $3.50; Chemical Bank, 45 cents; Pub- lic National, 371, cents; Bank of Man- hattan, 37'2 cents; Irving Trust, 25 cents; Bankers' Trust, 75 cents; Con- tinental, 20 cents; Guaranty, $5. FOREIGN MARKETS. By the Associated Press. LONDON—With the price trend unde- cided. only a small holiday business was transacted on the stock exchange today. Quotations on gilt-cdged securities. home rails and gold mining shares were main- tained but light offerings in other sec- tiops caused an irregular closing RIS —Weakness in Citroen shares tlrl’i!d prices on the Bourse lower today, rentes declining fractionally, The closing tone_was heavy. BERLIN—_After recording a weak tone, prices on the Boerse closed steadier, 574 Alleg Cp w§30w (K)o 160% 115% Allied Chem (6).... 130 122% Allied Chem pf (7). 23% 55% 254% 501 38 108% 17% 894 6% ik B4y 1844 T3% 90 b4% 33 57% 103 100 1004 107% Am Tobax 10% Allis-Chalmers. . 39 Amerada Corp (2) 11% Am Bank Note..... 40 Am'Bank Nte pf (3) 19% Am Brake Shoe 80c. 90% Am Can (15)... 12 Am Car & Foundry.. 82 Am Car & Found pf. 461 Am Chicle (13%). 20% Am Comcl Alcohol, 6% Am Crystal Sugar 46% Am Crystal Sug pf. 1% Am Encaustic. . 4% Am & Foreign Pwr., 11 Am & Fox Pw pf (6) 11% Am & For Pw pt (7) 6% Am & For Pw 2d pf. 10‘ Am Hawaiian SS(1) 4 Am Hide & Leather, lT:h Am Hide & Leath pt 264 Am Home Prod 2.40, 3 AmlIceCo.... 4% Am International. % Am La France (k).. 3% Am La Fran pf (k).. 1414 Am Locomotive. ... 3514 Am Locomotive pf.; 12% Am Mch & Fdy (1).. l« Am Mach & Metal; 12% Am MetalS........0 8's Am Power & Light.. 10 Am P&L $5 pt (1%) 11% Am P&L $6 pf (1%) 17% Am Shipbldg (2) 30% Am Smelt & Ref. T1i, Am Sm&Ret 6% pfa Am Sm&Ref pf (7). 10% Am Steel Foundry 46 Am Sugar (2). 13% Am Sum Tob (1% Am Tel & Tel (9). 65% Am Tobacco (5) 67 Am Tobacco B (5).. pf(6). 3 Am Type Fdrs (k).. % Am Type Fdrs pt (k) 125 Am Water Wks (1). 7 Am Woolen. 86 Am Wool pt 1 Am Writ Paper (k 3% Am Zinc & Lead 10 Anaconda Copper.., 26% Archer-Dan (1132).. 315 Armour of Illinois. . 46% Armour 11l pr pt (6) 3 Arnold Constable... T4 Asso Dry Goods 45% Atch To & S F (hZ). 70% Atch To&S F pt (5). 2413 Atlantic Coast Line, 211 Atlantic Ret (1) 1613 Auburn Auto... 34, Aviation Corp D _— 16 643 B4by B 464 4% 2% 415 Baldwin Loco. ..... 164 Baldwin Loco pf..., 184 Baltimore & Ohio. . 16 Baltimore & Ohio ptf 35% Bang & Arros (2%). 95% Bans & Arros pt (7) 1, Barker Brothers. ... Barnsdall Corp..... 23 Bayuk Cigar (g1) 89 Bayuk Cig 1st pt(7) 104 Beatrice Creamery.. 8% Belding-Hem(h50¢) 9%, Bendix Aviation. ... 124 Beneficial Loan 1% 26 Best&Co (1) 24% Bethlehem Steel. 547 Beth Stl pf (J1%) 19% Bigelow-San (h1) 6 Blaw Knox.. 17 Bloomingdale (40¢) 88 Bloomingdale pf (7) 6% Boeing Aeroplane. . 441 Bohn Alumng& Br(3) 76 Bon Ami (A) (15) 197 Borden Co (1.60). 16} Borg Warner (1% 28% Bklyn-Man T (hl'3. 50 Bklyn Union Gas(3) Brown Shoe (3) 118% Brown Shoe pf (7).. 4 Brunswick-Balke 34 Bucyrus-Erie.... 6 Bucyrus-Eriecv pf. 3 Budd (EG) Mfg. 2 Budd Wheel........ 16 Budd (E G) Mfg pf. 5% Bullard Co....cvuee 1 Burns Bros (B).. 1 1408 2 21 1L —ONA T 90s 108 20s 9 180s 16 11% 164 90s 106% 4 4 BurnsBrospf......% 10% Burr Add M (nf65¢) % Bush Terminal (K). 1% Butterick Co. . 13% Byers (A M). — 4% 1% 6% 15% 29y 18% 39 B6Y% 9 85k 44 22% 824 18% California Pkg(1%) 13 Callanan Zinc.. . 2% Calumet & Hecla. .. 6 Campbell-Wyant.., 12% Canada Dry G A (1) 107 Canadian Pacifie. . . 26% Cap Admin pf A (3). 35> Case (J I) Co. 567 Case (J 1) pf ( 23 Caterpillar Tr t)"n - 17% Celanese COTp.....e 613 Celotex Co pt (K)... 18% Cent Aguire (132).. 30% Cerro de Pasco (2) e 8% Certain-teed Prod. .. 3913 Ches & Ohio (2.80).+ 34 Ches-Corp (2%). 1% Chi Great Western.. 87« Chi Great West pf., 215 Chi Mil St P & Pac.. 3% Chi Mil St P &P pf.. 415 Chi & Northwestern 8% Chi & Northwest pf. 3% Chi Pneuratic Tool. 14% Chi Pneu Tool pf... 1% Chi R1 & Pac (k)... 3 CRI&PT% ptf (k) 3% Childs Co. ... 291 Chrysler Corp 17% City Ice & Fuel (2 2 $7 Citylce& F pf6%.; y Stores. ... 2% City Stores (A).. 2 City Stores(A)ctfs,) 8% Clark Equip (80¢) .+ 50% Coca-Cola (A) (3). 9% Colgate-P-P (175 6813 Colg-Palm-P pf (6) 10 Collins & Aikman. . 3% Colo Fuel & Iron (k) 10% Colo Fuel & Ir pf (k) 18 Colorado & South... 11 Colo & Sou 2d pf... 67 Col Gas & Elec....u 52 ColG&Elpf A (6). 21% Colum Pic vte(m1).. 58 Colum Carb (13.60). 18% Comecl Credit (2)... 38 Comecl Credit(A)(3) 9115 Comel C 1st pf(632) 24 Comcl Credit(B)(2). 35% Comel Inv Tr(123%) 15% Comcl Solv (60¢)... 1 Comwlth & South 211 Comwlth & S pf (6). 22 Congoleum-N (12).. 514 Consol Cigar. . 1% Consol Film 10% Consol Film pf (jZ). 21% Consol Gas N Y (2). 80 Consol Gaspf (5).a 1% Consol Laundries. T% Consol Oil (h42¢)..s 214 Consol R R Cuba pf. 15 Consol Textile. .. .., 63 Container Corp (A). 2% Container Corp (B). 5% Contl Baking (A)... 44% Contl Baking pf (4) 56% Contl Can (2.40). 6 Contl Diamond Fib. 23% Contl Insur (1.20).. % Contl Motors. . 15% Contl O Del (h50¢).. 40% Corn Ex Bk & Tr(3) 55% Corn Prod Ref (3).. 3% Coty InC.......uuee 28 Cream of Wht 123« 18% Crown Cork & 8 (1), 384 Crown-Zellerback 44 Crucible Steel p! 1 CubaCo..... 314 Cuban-Am Sugar. .. 20% Cuban-Am Sugar pf 87 Cudahy Pkg (2%).. 13% Curtis-Publishing. s 4814 Curtis Pub pf (j6).. 2% Curtiss Wright.. P w 2 O re b 08 1 O 94 l4% BTN 40 16% 401 113 18 4% 4% 6 6 44 44 1074% 108 16 I G e T4+ o & SIS ¥OFY 103% 12714 115 Du Pontdeb (6).... 107 12% 116% 22% 1% 9% 435% 2315 14% 10814 100 64 33 58 25% 12%, 42 6% 125% 111 731 103% 10% 13 32% 8% 29%, 574 28% Diamond M pf (13%) 32 Dome Mines (1333). 11 Dominion Strs(1.20) 14% Douglas Aircraft... 8% Dresser Mfg A h1%; 5 Duluth S S & Atl... 3 Dunhill Internatl. 80 Dupontde N (13%). 90 Duquesne Lt 1st (5) 106s 4% Eastern Roll Mills. 79 Eastman K (t4%) 123% Eaton Mfg (1) - 1 11 80 Elec Auto Lite pf 7. 100s 15 Electric Auto Lite.. 3 Electric Boat. . 4% El&Mus Ind (h19e) ./ 2% Elec Pwr & Light... 6 Elec Pwr&Lt $6 pf. 6% Elec Pwr&Lt $7 pf.: 34 Elec Stor Bat (2%). % Elk Horn Coal (k).. 1 Elk Horn Coal pf(k) 10% Eng Pub Sve $5 pf.. 11 EngP S $5.50 pf ww 5 Equit Office Bld.... 9% Erie R R. 14% Erie R R 1st p! 7 Eureka Vac Cl(80¢). 9 Evans Auto P(50¢c). 1 Fairbanks Co 3% Fairbanks Co pf. 7 Fairbanks-Morse. 30 Fairbanks-Mrs pf 2% Fed Motor Truck 2 Fed Screw Works. 1 Fed Water Sve (A) . 20 Fed'd D Stores (11). 23% Fid Ph F In (1.20)., 13% Firestone (40¢)...a 71 Firestone pf A(6).. 543 First Nat Strs(213). 2 Follansbee Bros (k) 10% Food Machinery.... 813 Foste®-Wheeler. . 55 Foster-Wheeler pf. 17% Fourth N Inv(h85c) 8Y% Fox Film (A). 2115 Freeport-Texas (2). 8% Gamewell Co 30 Gen Am Tr 12 Gen Asphalt 614 Gen Baking (h Gen Baking pt (8) 21 Gen Cable. 141% Gen Cable p 27 Gen Cigar (17) 16% Gen Electric (60c) .. 11% Gen Elec Spe (60¢) « 28 Gen Foods (1.80). % Gen Gas & El (A). .. 24% Gen Motors (113).4 89% Gen Motors pf (5).+ 3% Gen Outdoors Adv.. 8% Gen Outdoors AdvA 10% Gen Print Ink (1) .. 7315 Gen Prig Ink pt (6). 2 Gen Public Service., 2315 Gen Ry Signal (1).. 1 Gen Realty & Util... 10 Gen Refracetfs. . 814 Gillett Saf Raz (1).: 47 Gillette Saf R pf: 2% Gimbel Bros. . 16% Gimbel Bros pf.. 15% Glidden Co (11.30) 3% Gobel (Adolf). . 16 Gold Dust (1.20). 8 Goodrich (BF). 18% Goodyear T & Rub., 64 Goodyear $7 pf (4).. 37 Gotham Silk Hose. . 3813 Gotham S H pf (7). 1% Graham-Paige..... 4 Granby Consol..... 4 Grand Union 28 Grant (W T) 124 Great Northern pf.. 814 Grt Nor Oreg(hs0c) 25 Grt West Sug(2.40). % Guantanamo Sugar. 15% Gulf States Steel. . 27 Hack WpfA (1%).. 314 Hahn Dept Stores. .. 25% Hahn Dpt Stores pf. 13 Harb Walker (30¢).. 11 Hat Corp (A). ] 193 Hat Corp pf. 1% Hayes Body. 59 Hercules Pw (13%) Hercules P pf (7)... 48 Hershey Choc (3)... 83 Hershey C pf (15).. 4% Holland Furnace... 5% Holland & Son (50¢) 11 Houd-Hersh A §2%. 28 Houdaille-Hersh B., 1214 Houston Oil. . 85% Howe Sound 4% Hudson Manhat 6% Hudson Motor Car.. 1% Hupp Moto! e Favawmanans —e 13% Illinots Central. 22 1llinois Central pf.. 19% Indus Rayon (1.68). 491 Ingersoll-Rand (14). 34% Inland Steel (h50c). 28 Inspiration Copper. 5% Interboro RpTr(k). 2 Int Agriculture Int Bus Mach (p§).. 4% Int-Carriers Ltd 200 18% Int Cement (h25¢).. 23Y% Int Harvester (60c) 2% Int Hydro Elec (A). 21 Int Nick Can (60c)., % Int Paper & Pw (C). 9 Int Print Ink h50c.. 66 Int Print Ink pf (6). 21 IntSalt (133) . 33 Int Shoe (2 59 Int Silver pf 7% Int Tel & Tel. 31 Interstate Dept Strs 24% Island Ck Coal (h3) o [ » o andrensowBeBonnelnenlne 2o —— e 66% 7 39 Johns-Manville.... 45 Jones&Laugh 7%pf —_— 19% 27% 18% 4% 21% 94 23% T% 22% 65% 33% 6% Kans City Southern. 11% Kans City South pf. 137% Kayser(J)&Co h50e. 1% Kelly Spring Tire 115 Kelvinator (170¢). . 65% Kendall pf (16.92).. 16 Kennecott (h45¢)... 3 Kinney (GR) Co... 13% Kresge (SS) (1)...0 36 Kress (SH)(f1)... 28% Kroger Gr&Bk 1.60. —_— 313 14% 5 16% 21% 8 23% 43% 110 111% 26% 36% 19% 35% 22% Lambert Co (3)...u 7 Lee Rub&Tire(40c). 2% Lehigh Valley Coals 5 Lehigh Val Coal pf.: 914 Lehigh Valley R R.y 64% Lehman Corp (2.40) 11% Lehn & Fink (1%).. 22% Lib O-Ford G1(1.20) 73 Ligg & Myers (15) .. T4% Ligg & Myers B(15) 16 Lily Tulip Cup(1%) 15% Lima Locomotive..; 11% Link Belt (40c¢) 16% Liquid Carb (t1 20% Loew’s Inc (11%).. 72 Loew’s Inc pf (633). 1% LoftInC.....ceeeve 1 Long Bell Lum (A). 83% Loose-Wiles (2)...3 156% Lorillard P (12.20).. 221 130 102 Lorillard (P) pf (7). 3% 21 19% 111% 32 10% 10% 61% 50% 9% 42% 17% 41% 62% 7 1 Louisiana Oil...... 12% Louisv G&E(A)1%. 8% Ludlum Steel 95 MacAnd & F pf (6 24 McCall Corp (2).... 1% McCrory Strs A (k). 1% McCrory Strs B (k). 5% McCrory Strs pf (k) 3815 Mclntyre Porcu (2)« 4% McKesson & Rob... 11% McKesson & Rob pf. 1 McLellan Stores (k) 22 Mack Truck (1) 85% Macy (R H)& Co(2) 2% Madison Sq Garden. 7% Mallison & Co pf... 800 % Manati Sugar (k)... 10% Man Elevm g (k) .. 10% Manhat Shirt (60¢)« 4% Market St Ry pr pf. 100 17 Marlin-Rockwell(2) 8% Marshall Field..... 231 Mathieson Alk(134) 1 30 May Dept Str (1.60), 3 . 1 4 Martin Parry.. : 9 1 1 00 89 b D NG s 03 OF e wo 28 13 18 1000 3 1 12 80 60 1t it O o S 5 127% 1045 127 127 10415 104% 6% . 26% 108% 5 7 2 6% T% 4675 0 1% 14% 1513 5 15 11's 22 1+ Hhd o+t +¥1 4100 |¢; &lofilll +1++ L+ 41 11% 27 12 10% 70% 16% 28 8% 102% 103 +1% 10435 104% +1 18% 184 20% 21 + % 17% 18 +1% 29% 304 + 7% 35% 36 + W 104% 104% + % 1% 1% 2% 2% 34 34 34 20 ‘;muzo + 130 130 130 . L T 15 110% 110% 110% + % 1 30 10% 10% 61% 30 =% !8%+% l!h+% 13% 12% 49% 23% 18% 3% 28% 31% 15% 1 58% 18% 49% 24% 4w 43% 1% 24% 37% 11% 22% 99%% 109% 45% 187 161 8% 26% 45 36% 4% 40% 29 lb’/i 27'6 14% x 47 v4 11% 43 19% 59% 27 16% 14% 614 29% 5% 44% 44 MIASt1P1stpf (4). 36 Minn-Hon Reg (13). 1% Minn Moline Pow... 15% Minn Moline Pow pf % Minn & St L (k). % MStP&SS Mar 1% MStP&S S Mpf. 1% MStP&SSMlisin 4% Mo Kan & Texa 13% Mo Kan & Texas pf. 2% Mo Pacific pf (k)... 12% Mohawk C M (h25c) 39 Monsanto C (11%). 20 Montgomery Ward % Mother Lode 16% Motor Products. 6% Motor Wheel. . 5% Mullins Mfg.. 12% Mullins Mfg pt 13 Munsingwear Inc. 3% Murray Corp 12% Nash Motors (1)... 19% Nash Chat & St L. 3% Nat Acme Co. 5% Nat Aviation 3% Nat Bellas H 26% Nat Biscuit (2).... 12 Nat Cash Reg A 50¢ 13 Nat Dairy Prod 1.20 1 Nat Dept Store (k). 5 Nat Dp St 1st pf(k). 16 Nat Distillers 6% Nat Pwr & Lt (80¢). % Nat Ry Mex 2d pf... 8414 Nat Steel (1).. 9 Nat Tea (60¢c). 17 Newberry (J J)(l)- 11% N Y Air Brake. 18% New York Centr: 16 NYC&StLpf. % N Y Investors (k). T NYNH& Hdrlford 1% NYNH&HDp 4% N Y Ontario & West 9% N Y Shipbldg (40c). 73 NY Steam pf (6) .. 90 NY Steam 1st (7) 30% Noranda Mines ( Norfolk & W (110) 2% North Am Aviation. 10% North Amer (1).... 34 North Am Co pf (3) 14% Northern Pacific.. .. 1% Norwalk Tire&Rub, orwalkT&R pf 3% 2:30 n m. E Sales Neb | — 1934 — Sales— Dividend Rate. Add 00. High. Low. Close. Chge. | High. Low. 12% 5% Curtiss Wright (A) 6 lg 2”,1 8% — % 33“ 4% Maytag Co.vuvuvvan 2 83 Ohio Ofl (h45c) . 2 Oliver Farm Equip., 9 Oliver FEqprof A. 5% Oppenheim Collins. 3% Otis Steel. 323 Outlet Co ( 60 Owens-11l Glass (4) 12% PacificG& E (1%). 20% Pacific Lizhting (3) 19 Pacific Mills (h50c) T0% Pacific Tel & Tel (6) b Pac W'n Oil (hd0c). 2% Packard Motor..... 1% Par-Publix ctfs(k). 2l Park Utah 13 Parmelee Transport 1% Pathe Exchange . 10% Pathe Exchange 913 Patino Mines..... 44% Pennick & Ford (3). 51% Penney (J C) t4.40. 20% Penn R R (h1) . 9% Pet Milk (1) 8% Petrol Corp (hi0c). 13% Phelps Dodge(h75c) 24% Phila Co $6 pf (3).. 2 Phila Rap Tran (k). 3% Phila& Read C& 1 11% Philip Morris (1). 13% Phillips Petrol (1). 4% Phoenix Hosiery... % Pierce-Arrow (k)- . 14 Pierce Ol % Pierce Petroleum. 1834 Pillsbury Flourl. 60. 28 Pitts Coal pf.. 4% Pitts Screw & Bolt. 15% Pitts Steel pf. . 814 Pitts Term Coal p: 25% Pitts United C pf. 11% Pitts & West Va 7% Plymouth Oil g7ie 6 Poor & Co (B).. 2% Port Ric Am Tob A. 10 Postal Tel & Ca pt 1% Pressed St Car (k). 3314 Proc & Gamb 11.70. 117 102% Proc & Gam pf (5). 45 84 106 1195 105 59% 19% 26 Pub ServNJ (2.80) 67 PubServ N Jpf (5 90 PubServ N J pf (7 Pub Serv N J pf (8). 35% Pullman Inc (3).... 8% Purity Bakeries (1) 43 Radio Corporation.. 15 Radio Corp pf (B).. 1% Radio-Keith-Or (k) 14% Raybestos-Man (1). 35% Reading (2 5% Reis (Robert)1st pf 6 Remington-Rand... 32% Remington-R 1st pf. 2 Reo Motor Car 104 Republic Steel. . 33! Republic Steel pf. 1512 Reynolds Metals(1) 613 Reynolds Sp (40c).. 57 Reynolds Tob (3)... 39% Reynolds Tob B (3). 207 Roan Antelope Ltd. 28% Royal D(h1.35 3- )Q) 5% Rutland R R pf. 381 Safeway Stores (3). 9814 Safeway Strs pf (7). 15% St Joseph L (h30c) 14 St L San Fran (k) 114 St L San F pf (K)..; 514 Savage Arms...... 17% Schenley Distillers. 3 Schulte Retail Strs, 15 Schulte Re Strs pf., % Seaboard Air L (k). 20% Seab’d Oil(Del)(11) 213 Seagrave COrp..... 31 Sears Roebuck. - o 3 ® S SRS mE 10 2508 17 1 1 4 19 b 10 [ I3 e mwmEe e @ S 5] S PYST TS e Pt 115 30 Ti% 2.7 14k 598 50u 2i1a 29% bl 48 115 2814 T2% 1127% 112 17 1% 1 61 62 4% % - 17 17 38% 131 42% 118 100 Sun Oil pf (6) 26% 11% Superheater (50c).. 29% 43% 12 18 154 29% 120 107 Unit Biscuit pf (7). 50% 11% Southern Railway.. 14 Southern Rwy pf 6 Spalding (A G) 80% Spalding (AG)1st pf 80 Spng Chlfnt pt (j1). 2% Sparks-Withington. 39 Spear & Co 1st pf... 5% Sperry Corp (25¢).. 21% Spicer Mfg pf (3).. 19 Spiegel-May-Stern 16% 26% 17% Stand Brands (1)... 147 121% Stand Brands pf (7) 8 3 Stand Com Tobacco. 4% Stand Gas & Elec. .. 5% Stand G & E14% pf Stand G & E1 7% pf. 2614 Stand Oil of Cal (1). 96% Stand Oil Exp pf(5) 23% Stand Oil of Ind (1) 26 Stand Oil of Kan(2) 39Y% Stand OIl N J(t1%) 6 Starrett L S (h50c).. 47Y% Sterling Prod(3.80), 1% Sterling Secur (A).. 4% Stewart-Warner. . . 43, Stone & Webster. 17 Studebaker (k) 511 Sun Oil ($1). PRSI PARPORIN 3 1% Superior Oil . 2% % Symington. —— 6% 3 Tennessee Corp 19% Texas Corp (1)..... 30 Tex Gulf Sulph (2). 6% Tex Pac Land Trust 8 Thateh Mfg (h25c). 4 The Fair. 2% Thermoid Co. . 13% Third Nat In (h83c) 10 Thompson Products 1% Thompson Starrett. 8 Tide Water Asso... 64'% Tide W A pf (j8%)s 80 Tide Wat Oil pf (5), 3% Timken-Detroit. ... 24 TimkenR B (11%) 5% Transamerica h! 3% Tri-Contl Corp 33 Trico Prod (215 1% Truax-Traer Coal. ., 9% 3% Truscon Steel ooy O o L L) 36 Und-Ell-Fisher (2). 85% Un Carbide & C 1.40, 11% Un Oil of Calif (1).. 90 Union Pacific (6)... 16% Un Tank Car (1.20). 84 United Aircraft.... 3% United Air Lines&T 21Y% Unit Biscuit(1.60).. @ PrS Y 35 United €arb (2.40), 2% United Corporation. 24’ United Corp pt (3).. 9% United Drug....... 3% United Elec Coal 59 United Fruit (3) 11% Unit Gas Imp (1.20) 86 Unit Gas Imp pf (5) 1% Unit Paperb'd (k) 30 Unit Piece D W pf. 1! U S Distributing... 6 US & For'n Secur.. 63% U S & For 1st pf (6) 11 USFreight (1).... 34% U S Gypsum (11%). 115 U S Gypsum pf (7). 32 U S Indus Alcohol. . 5% U S Leather. . 15% US Pipe & F Kufl(’) 4 USRealty & Impr. 11 U S Rubber 24% U S Rubber 1st p 96% U S Smelt & R (h9). 5413 USSm&R pf (33%) 29% United States Steel. 67% U S Steel pf (2).... 2% United Stores (A).. 54 Unit Stores pf(33%) 40% Univ Leaf Tob (13). 1% Ctil Pwr & Lt (A) 14 Vanadium Corp 4% Van Raalte. . 54l VanRaalte 1st pf(7) Viek Chem (12.40). » Va-Car Chemical.., 65 VaEl&Pwrpf (6). 52 Vulcan Detin (h3).. 4 Waldorf Sys (h20c) 17% Walgreen Co (m1).. 5 Ward Baking (A). 1% Ward Baking (B)... 24 Ward Baking pf (2) 2% Warner Bros Pic... 15 Warner Bros Pic pf. 1 Warner-Quinlan.., 3% Warren Bros.... 13% Warren F& P (h1). 15% Wesson O & S (11).. 52%s Wesson O & S pf(4) 51% West Pa Elec pt (7) T Western Maryland.. 2% Western Pacific. 4% Western Pacific p 291 Western Union..... 157 Westingh'se AB 50c 27% Westinghouse Elec. 163 Weston Elec A (2). x 108 147 Westvaco Chl (40¢c) 4% Wilson & Co....... 12} Wilson & Co (A)... 53 Wilson & Co pf (37). 41% Woolworth (2.40)... 13% Worthington Pump. 313 Worth Pump pf A.. 23% Worth Pump pf B. 167 Wright Aero.... 54 Wrigley (W jr)13%. e 8 T I L e T — 224 14 Yale & Towne (GDC). T 2% Yellow Truck... 33% 128 Youngstown S& T. . 59% 34 Y'gst'n S&T pfA5is. —————— % 3% Zonite Products. Sales of Stocks on the New York Exchange. 11:00 A.M.... 20,000 490,000 Dividend rates as given i 1% + 16 19% — Fl+++4+ 14 ¥ OEP FERFETSL + 3 -1 FEEFEES FiE ¥ 1 £ | Central L4440 © +HE+ L+ + Hl++ 14+ 14+ ++0H000 1+ 4+ =% BY VICTOR EUBANK. Associated Press Financial Writer. NEW YORK, December 18.—The stock market idled in a narrow trad- ing channel today. Prices tended to improve a little in the late dealings, following earlier irregularity. Metals, however, failed to show much recovery after slipping frac- tions to more than a point. Ameri- can Telephone, United States Steel and Pennsylvania were about un- changed. Santa Fe, McCrory Stores and J. C. Penney firmed, while United States Smelting, Cerro de Pasco and Public Service of New Jer- sey were lower. Although the general run of news was not interpreted pessimistically, both buyers and sellers exhibited marked timidity in their dealings. While the metals were subjected to moderate pressure, several retail store issues and scattered specialties were in demand. The majority of the old-line leaders were content to mark time. The usual number of new highs for the year were in evidence in the equi- ties list. Among these were McCrory Stores preferred and J. C. Penney, up about 2 points each, and United Stores, Industrial Rayon and McCrory com- mon with gains of small amounts U. S. Smelting dropped 2 and Cerro de Pasco and Howe Sound about 1 each. Public Service of New Jersey was in supply at a point recession. Such issues as General Motors, U. S. Steel, Western Union, Consolidated Gas, American Telephone, General Electric, Kelvinator, Chrysler, Good- year, Upion Pacific, Santa Fe, N. Y. and United Aircraft were about unchanged to a trifle lower. Liggett & Myers B and American Can improved. Attention was again attracted to some of the merchandising shares as the result of indications that many of the stores will enjoy their best holiday trade in the past three or four years. Sentiment in the street was mixed, with several bearish technicians point- ing to the sluggishness of the rails as one of the principal deterrents to the resumption of the advance on a broad scale. But quiet buying for the “long pull” was reported by a few commis- sion houses and the more optimistic traders were waiting confidently for a Spring upturn. Reactionary tendencies displayed by a few of the mining equities apparent- ly were due partly to the confusion existing in world silver markets, where prices have been fluctuating some- what erratically recently. FOREIGN EXCHANGES. NEW YORK. December 18 (# —For- gien exchange irresular: Great Britain in others in cents. Great Britain, 04% cables. 4943 hite: France. demanc 0% Italy, demand, &, 200 Switze Portugal. 4 rland. 2 .40: Spi 012 Greece. a1 f e Czechoslovakia. 4.18; Austria. 18 81n: Hul Rumanig, 10i: Argentina S61n. Tok) Sha; Hongkong. 42 7.X5. Montreal in New ‘York. 101.03% New York in Manuu 98 967, TOBACCO FUTU’B.ES NEW YORK. December 18 (#.—Tobacco futures opened quiet. DIRECTORY COMMODITY BROKERS COTTON JMember N ¥. Cotton Exchan Laidlaw & Co. . .DL 2 D) GRAIN Members Chicaso Harriman ° RUBBER—HIDES METALS—SILK Members Commodity Exchanee, Ine. Consistent Savings Bring Financial Independence L. Home Loan & Savings Assn. 1505 K St. N.W. Under Supervision U. S. Treasury Dept. First Mortgage Loans on Pro 1% Second Nat Invest. 32 Sec Nat Inv pf (j2). 4% Servel Inc. . 5% Sharon Steel Hoop. 4 Sharp & Dohme.... 6% Shattuck (FG) 25 6 Shell Union Oil... CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. @ meste NEW YORK, December 18.—The following is today’s summary of cor- poration news prepared by Standard Statistics Co., Inc, New York: Moore Drop Forging Co.—Net in- come, year ended October 31, $73,481, equal to $2.29 a class A shnre vs. defi- cit $91,442. National Steel Corp.—Chairman ex- pects company’s results in the final quarter to be substantially better than in the previous quarter; operating rate currently is around 60 per cent; fur- ther improvemnent is looked for in the initial quarter of 1935. Federal Water Service Corp.—Pre- ferred share earnings, 12 months end- ed September 30, $2.37 vs. $3.35. Commonwealtt. n Co.—County Judge Jarecki, Chicago, entered & judgment of $1,733,708 against this company, representing disputed por- tion of 1931 personal property tax assessed against it; attorneys for com- pany indicated that an appeal would be taken. Peoples’ Gas Light & Coke Co— County Judge Jarecki, Chicago, en- tered a judgment of $671,561 against this company, representine disputed portion of 1931 personal property tax assessed against it; attorney for com- pany indicated that an Ippell would be taken. cash declarations, 9%in stock. a P: stock. stock. © Plus :;.Xu!bl(%l in not h yable in dividénds paid this sear Bt or, Deing, reorsanized, 2% 1in stocl n the above table are the annual pavments based on the latest quarterly or half-yearly 3 Unit of trading less than 100 ghares t Partly extra. 3 Plus ear—no resular rate. b P 'ayable in Paid this yea ? Piussi in Far lfieum;u.led g it el ock: x Ex dividend" i i Machinery Trade Looks Forward to Continued Gains |: Special Dispatch to The Star. NEW YORK, December 18— Although machinery orders quieted down in some centers during Decem- ber, the machinery trade as a whole feels much better than it did a year ago, reports American Machinist. In- quiries are very active and they look genuine. Supply business is better; 1934 was a better year than 1933 and 1935 promises to be better yet. Volume is still far below normal, but the trend is upward. Arsenal orders for machine tools have done much to cheer up the dis- tributors in New York, Boston and Philadelphia. Most of this busine has now been awarded, but perhaps half a dozen items were not satis- factory to the Purchasing Board and will be readvertised. December book- ings in Pittsburgh were about on a par with November bookings, but the activity of inquiry is encouraging. Some orders may be closed this month, but the majority will prob- ably hold over until January. INTEREST RATE REDUCED. NEW YORK, December 18 (#)—A reduction in the interest rate from 3% to 3 per cent for computing premiums and reserves on new ordinary policies was announced today by the Metro- politan Life Insurance Co. The effect will be an increase of about 6% per cent in premium rates. Policies issued prior to January 1 will not be affected. CHICAGO LIVE STOCK. CHICAGO. December 18 (@) States Depaftment of Agricultire) fpge i‘le«lfl;lu.“:l%celuugu (18,000 direct: moder- abou et steady with d heavy weight &0 medium and ds. 5.00a5.9( 5. Choice:” T00:150° Pounds, Cattle. 9.000 commercial: ment calves, 2.500 100, G- commercial; 100 Gov- ernment-fed steers and yearlings; rather slow but mostly steady.” Strictly choice kind comparatively scarce. but sizable $upply medium o mere cholce steers and Jearlings here: early top 9.63. but several oads held around "10.00. Lower grade steers selling mostly at 6.50 down to 4.00; such kinds getting relatively better action than good to choice offerings; other killing classes uneven. mostly steady. Slaughter e and vealers: T gholce. 550-900" pounds, 6.5 1.100, 758, 550~ " chofee. 550-750 common_and pedium. :ondfl 08 medium, pounds, 5 51 2.5085.50: cows. uj id oy . common and gew, 11.000: 1 at Jambs undertone fully feeflnl Ilmbl little change. ward to 7.35 gn bette! Sommen and ‘medium. 17562, 50: erding im, : Tambe, 507, Boed mud Chots B obam MONEY MARKET. NEW YORK, December 18 (P.—Call money steady: l per cent all day. Time loans steady; 60 days-6 months, ¥al per Brime commercial poper % Bake ers’ acceptances unchanged. scount Tate, New York Reserve Bank, 1% per cent, erty . in D. C.. Nearby Md. and Va. $10.00 Per Month Per $1000.00 COLUMBIA PERMANENT BUILDING ASSOCIATION 733 12th St. N.W. A. 0353 | REAL ESTATE LOANS MADE ON HOMES OCCU- PIED BY OWNERS IN OR NEAR THE DISTRICT OF COLUMBIA Applications given immediate attention THE WASHINGTON LOAN & TRUST CO. F Street at 9th 17th Street at G