Evening Star Newspaper, December 18, 1934, Page 18

CURB IRREGULAR IN'SLOW TRADING Bmall Losses Seen Among ¢ Oils, Utilities and In- dustrial Issues. BY G. A. PHILLIPS, Associated Press Financial Writer. NEW YORK, December 18.—Early frregularity in all groups except spe- cialties carried through to the final hour on the Curb Exchange today. Trading continued slow and re- flected the absence of speculative in- terest in most groups of stocks. Fractional losses were well scattered eamong leaders in the oil, utilities and industrial issues, including Electric Bond & Share, Creole Petroleum, Lake Shore Mines, Sherwin Williams, the two Swift issues, Pittsburgh Plate Glass, Hiram Walker and Distillers Corp. Seagrams. Alabam Pw 4%s '67 Alabama Pow s '46 Aluminm Lid 5s 4K Arkans P & L 55 El Ind 4'as &E 4158 Bila Lo Baldn Lo 65 Brmnem El 4128 5” 1|m. 1087 1037 n,mn,JmJ 981 4 1064 106% 68% a8 34 K3 10414 104% “.,. 3 66 601 1023 10234 104 ‘10 o 7 74 O8YVs ORVe 58y E81% fl 335 103 10338 9078 20% 0% 95 os. a8 101% 101% 101% 100,100 100 s Stand Invest 5s Stand Invest 528 811 nn‘n fil" 96, 106, 106, Wes Tex Wise P&L 5s FOREIGN BONDS. Cauca Valley 75 '47 .. 12 Danish Con 5l3s m Ind C Without warrants. % —Whln \uued Tstp) —Sta §Nesofiability Impaired by maturity. Companies reported in receivership, TU. 8. TREASURY NOTES. (Reported by Chas. D. Barney & Co.) W = 4 ] 2 Mo D B BPLEBRIIDIHDDED O & RIRRRI2RIZE 5555559555 RRECR BB o 2232 o et 32E3 25355555553555550 btk e ok ek June June S8 Its NEW YORK BAR SILVER. NEW YORK, December 18 (#).— Bar silver easy, ' lower at 53%. Aero Supply (A).. Aero Supply (B).. Afga ANSCO.....o0 Ainsworth (K1%). Alr Investors Inc. Air Invest cv pt Alliance Invest. i) Allfed Mills Inc... 0 12% Alum’n Co of Am. 5008 48 Alum'n pf (1% )..: 508 73 Am Book Co (4)... 60s 59 Am City P&L (A) (3)...... 1008 30 Am Cities Pw Lt (B) (k10c).. 4 1% | Am mid 15 16 2% % B 3 Cyna (B) (k25¢)... Am & For Pw war. 5 Am Founders..... 3 Am Foundries 1st pf (B).. 50s 15 Am Gas&El(11.20) 55 20% Am Gas&EIl pt(6).100s 86 Am Hard Rubber, 508 5% Am Laundry 40c. . 31008 16% AmLt&Trac120 15 9% Am Maracaibo.... i % AmPotash&Chm.. 150s 12 Am Superpower 22 1% Am Superpower 1st pf (6).. ArcturusRadio T. . Ark Nat Gas (A).. Armstrong C k25¢ Art Met W (45¢). Asmo Gas&El (A). Asso Tel Utilitles, Atl Coast Fisher. Atlas Corp(A)Il). Auto Vot Mch 50c.. Babcock&Wil 40c. 175 38% Blue Ridge Corp.. 2 1% Blue Ridge pf(a3), 1 38 Blumenthal (S)... 8 4% Bower Roll B (1).. 7 16' Bowm-Bilt 1st pf. 70s Bridgeport Mach.. 16 5'4 Brown Co pf .60s 8 Brown Forman. T Buffalo Niag & Eastpt 1st pf(5). 1 70 Bunker Hill & Sul 325s 30 Burma Ltd (k5¢).. Rutler Bros. . —_— Cable Radio vte... Canadian Marconi. Carib Syndicate. .. Carrier COrPaeseos Catlin Corp'n. ... Celanese pf (7)... 50: 100 Celanese 1st 0f(7) 2258101% Cent States Elec.. 10 3 Cent States Eleccv pf(new). 258 1% 1% 1% CharisCorp (1%). 1 14% 14% 14% Chesebrough 1113 50!1AS‘: 1381 HS’ Chi R & M k873c. Ch1ids Co pt Cizies Service..... 7 Clev Elec Illu (2). Cleveland Tractor. Cohn & Rosenbegr. Columbia Gas & s 1 i% 17% 17% 5% 6% 99 100 98% i01% B B 5 Comwlith&So war, 42 Compo Shoe(50¢). Cons Alrcraft..e.s Cons Copper.. . Cons Gas of Balto (3.60).. Cons Royal(20¢).. Cooper Bessemer.. Cord Corp (k25¢).. Corroon & Reyn. .. Corroon & R pf A Cosden Oil Me Court'lds (k28 %: Crane.... Creole Petrol'm Crocker Wheeler. Crown Cent Pet: 15 CrnCk Int AmT75c 1 Cusi-Mexicana M. 118 NP ETE R & " ~o Darby Pet (50¢) .. Distillers Ltd (k74 7-10C) .0 Distillers Crp-Sea. Dohler Die Cast. .. Dow Chemical (2) Driver Har pf (7). Dubilier Condens Duke Power (3).. 1 5e Duval Tex Sulph 7 Eagle PitcherLd. . 10- P Hlec Bond&shuo.. 33 loc BA&S pf(5).. Elee BA&S pf (6).. Elec Pwr&Lt 2d pf (A)..... 258 Emp G&E 6% pf.. 508 Equity Corp'n...., 15 Evans Wall Lead., Ex-Cell-O A&Tool. 4 1 4 1 3 7 4 Fairchild Aviat'n., Falstaff Brewery. Fanay F C 131%c. Ferro Enam(t65c) Fidelio Brewery. . Fire Asso Phila 2. 100s Fisk Rubber...... 77 Fisk Rub pf(6)...200s Flintkote Co (A).. 2 Fla Pwr & Lt pf.. 200s Ford Motor Can (A) (k1%). & Ford Mot Can (B) (k1%). 508 Ford Motor Ltd g Froedtert Gr & cv pf (1.20). 100s Garlock Pack (30¢c) 4 Gen Aviation..... . 8 Gen Elec Litd rets (k30 1-5¢) Gen Fireproof Gen Pub Sve pt 0 Georgia Pwr §6 pf 50s Glen AldenC t1%. 33 Goldfield Consol..: 2 Gorham Mfg votext (1%4).eel 8 Grand Rapids Varnish (50c)e = 1 Great Atl & Pac non-voting (7). 30s129 129 129 Great Atl & Pac Tea 1st pf (7)... 208125% lZS'& 125% Gereyhound (Del). 18 21% 21% 21% GulfOilof Pa..... 4 b4% Hecla Min (40¢c).. 38 Helena Ruben..... 1 Heyden Ch (11.35) 1 Hollinger G t1.35. 9 Horn&Hardt 1.60. 125s Hudson Bay M&S 22 Humble Oil (1).... 43 Imp Chem Indus (k19C)oo.ees Imp Oil Ltd coupon (180¢c) . & Imp Tob Can (152%¢c)ieeer Ind Pipe L(t35¢).) 1ndian Territory Ilum Oil (B).ee 1 Insurance Co of North Am (2).. Intl Hydro Elec System cv pf. . Int Mining (ki5c). Int Petrolm (12).. Intl Utilities (B).s Interst'Equities.. Interstate Pwr Del pf....... Ital Superpwr (A) Kingsbury Brew. . Kirby Pet (k10c Kolster-Brandi: Am shares. Kreuger(G)Brew., —_— Lake Sh M (13%) Lefcourt Realty.. MeCord Rad (B).. Mangel Stores.... Mapes Consol (3). Marc IM k26 9-10¢c Maryl'd Casualty. Mavis Bot A (r).. May Hos cu pf(4). Mead Johnson (t4) Mem Nat G(k10¢) Metro Edis pf (6). Michigan Sugar... Middle States * Perol'm vic(A) e - OO M B NEEOTH® N o 8 Y " A—I8 ww¥ THE EVENING STAR,- WASHINGTON; D. €, TUESDAY, DECEMBER 18, 1934 e et et a3 e e . ——— e e e e R b R R LS RS o T e, o M e S A 3 W RBTIRA, B A A R B T v S A P T e A e e e e e NEW YORK CURB MARKE Stock and Sales— Dividend Rate. Add 00. High. Lo Mid West Ut (r).. 11 & Mid W UtevpfA. % Minneapolis Honey’ll p£(6)..50s 107 107 Mock JudVoe(k1), 1 15 15 Mohawk Hudson Pwr 1st pf (7)., 50s 89% Molybdenum Cp.. 40 8% Mont W A m103%..1008132% 132» 132% Moody’s Invest Service pf (3).. 268 20% 20% 20% Mount Prod (60c). 4% 4% % 2% 2% 2% 13% 13% 4% 8% 6% 2 52% 38% 26 16% 118% 118% % 3% 8% % & 10% 2% 10% 22% w. Close. & % %% 107 15 SSV: 39% Nat Bella Hess. ... Nat Fuel Gas (1).. Nat Rubber Mach. Natomas (175¢). 4y Neptune Met (A).. New Bradford 20a. NJ Zinec (2)...... Newmont M (k1) N Y Merch (1%). NY Steam..... NY Tel pf (C'fi)..25 Niag Hudson Pwr.. Niag Hud P A war. Niag Hud P B war. Niles-Bem-Pond. . Nipissing k12%0c.. Nortbern States Power (A)...400s Novadel Agne(2). 24 3 2 6 1 2 - 1 4 1 1 l Outboard Mot(B). Overseas Secur. .. WS ) Pantepec Oil. .. Param’t Motors. .. " Parke Davis 11.50 .800s Pender D Gro(B).. 1 Pennread Corp.... 5 Pepperell M{x (6).2208 91% Phullip Morri: 8 19% Phoenix Seeur.... T 2W Pie Bakeries (40c) 2 10% Pion’r GM Ltd 80c. 25 107% Pitney Bo P(20c). 12 4% Pitts Plate G 1.60.500s 521 Pond Creek Poca 126 Powdrell & Alex.. 1 8% Prod Royalty 2%4c 88 % Prop'ties Real vte 151 Prudential Invest. 3 6 Puget Sound P&Lts5of.... Pure Oil pf........ 60s 14 10s 39 Quaker Oats pf(6) 208134 Railroad Shares. . Railway & Lt Sec. Reeves(Dan) 50c Reiter-Foster Reliable Store: Reliance Corp(. Reyburn Co 2 268 T 8l % [ 1% 2% Stock ai Bales— nmuuuli':n. Add 00. High, Low. Close. ReynoldsInvest 11 1 1 RiceStixDG (2)u . 8 124 10% Richfield Oil Cal PL(r)..ca Ruberoid (1% ¥:: 3 1258 89 1 38% Saf Car HELt (k3) 268 69% 69% 8% | Bt Regis Paper... St Regis Paper pf. 30s 21 Salt Creek P(80c). 3 6% Schiff(The)Co(2). 5 33 Secur CorpGen... 1 1 Segal Lock & Hd..§ 1 Selected Indus.... 7 Selected Indus 1% 1% ¥ 21% 6 % 884 % 1% %, % % % alot ctfs (3%)..100s 46 & Sentry Safety Con _ 2 Shawinigan ‘Wat & Pw(50¢), Sheaffer Pen(WA) 1 16% 2 19% 31 1 12% 0% 89% 90% Sherwin-W pf(6).. 30s 108'5 108% 108% Singer Mfg t14%. 108 250 250 250 10 28 Smith (A O).. Sonotone Corp so AmGlP(kllk) . 72 Southn Calif EdpfC(1%)wm ¥ 1 Southn Colo Pwr (A) " South Penn 01.20. 6 Southn Calif BAptB (1%)..2 1 Spleg-M-S pf($%) 508 Stand Cap&S 2.40. T6s Stand OIl Ky t1%. & Stand Oil (Ohio). .600s Stand Silver & Ld. Starrett Corp. Starrett Corp pf Stein Cosmetics Stetson (J B). Sullivan Mach Sunray Oil..... Sunshine M 168 Swift & Co (50c) Swift Intl (2). Tampa Elee(2.24), Tastyeast Inc(A). Technicolor. Inc. . Teck Hughes(40c) Texon O&L t75¢. . Tob Prod Ex(10c). Trans Air & Tran. Tubize Chatil..... Tubize Chatil (A). Union Gas of Can.. Union Tobacco. Unit Dry D (F)..s Unit Founders, 28 3% 28 2 N 16% ootk and Sale— High. Low, UluLlvarpt... 11 % 6 UIB“ lol:;-)u.%:d. } % 4% Foil (B)(80¢). ELY ) 13% 1. lofllr vl w' USPlayCrd n.moo- 32% Unit Stores vte... Weeo Afreraft.... Walker (H).voomi Walker(H)pf(1)we3 1 1 Watson(JW) Co.. 2 1 Westn Air Exp. Westvaco C ptf( Woodley Pet n10e.. Woolworth(FW) K 25 16% & 13% 4 3% 3% 3w Ltd (k74c).. 1 28% 28% 28 Wright Har(t60e) 20 9 8% 9“ —— Yukon Gold...... 1 % % !h dolla; unx-.nmfu Sarment. TBartls able in %v Crange dealt as unlisted issues. SWIFT SALES IMPROVE. CHICAGO, December 18 (P).—Swift & Co. sold $619,000,000 in packing house products in the fiscal year end- ed October 27, up $119,000,000 and 8 per cent higher in tonnage over 1933. TIRE OUTPUT TO RISE. AKRON, Ohio, December 18 (#).— Production at the Firestone Tire & Rubber Co. plant will be 7 per cent higher in 1935, said President John W. Thomas. METAL MARKET. NEW YORK, December 18 (#.—Copper quiet; electrolytic spot and future, Blue Eagle. 9.00. Tin steady: spot and nearby snd future, 50.90. " Iron'guiet. wnchanged. Lead st spoi, New York: 3.70: East S, Louix 755 Zine frm. Bast spot uthre, A5 Aluminum, 19.00 00" Antimony. spot, 1400, EXAMINERS DRA BANKS' CRITICISM Small Institutions Express Most Objecticns in Chi- cago District. BY CHAS. Jf. SHAEFFER, Associated Press Financial Writer, The attitude of bank examiners was disclosed today as an important factor in whether commercial banks should make new loans. The subject was treated in the re- port on the availability of bank credit, submitted to Secretary Morgenthau by a staff working under the direction of Prof. Jacob Viner, who chose the Chicago Federal Reserve district as a representative area. This region was selected because it embraces large in- dustrial fields as well as agricultural areas and those regions stricken by the drought. In the hope of determining whether bankers are actually refusing to make certain types of loans they would otherwise grant because of the atti- tude of examiners or whether this re- striction is a convenient fiction used by bankers when refusing to make loans, it was decided to interview a large number of bankers on this spe- cific point. The comments indicated, it was held, that examiners did have a restrictive effect on lending policies. For instance, 205 lending officers out of a total of 283 interviewed offered criticism against bank examiners, and only 78 of those interviewed had no criticism to make. And of those com- menting, 69.1 per cent of national banks had criticism of examiners to offer, and 75.2 per cent of the State institutions were arrayed in the same category. The report indicated a somewhat greater tendency on the part of small banks than large ones to criticize examiners. Viner's investigators work- ing in the larger cities were definite in saying that the large banks were much less critical of examiners than the small institutions. The Chi- cago investigations reported very little complaint. from banks as to examina- tions, while the large Detroit banks Court Is Opposed To Books Seizure In Security Firm Special Dispatch to The Star. BALTIMORE, December 18—Rul- ing that the constitutional -ights of Harrison Knight & Co., a brokerage house, had been viclated through the seizure of its boooks by agents of the Securities Exchange Commission, Judge W. Calvin Chesnut, in the United States District Court Sat- urday, issued an order restraining the Government from using evidence obtained in this manner against three persons arrested at the offices of the brokerage house. In issuing the order, Judge Chesnut declared that the investigation con- ducted- at the offices of the company by John P. Callahan, attorney for the B. E. C,, was s0 irregular and unwar- ranted that it amounted to prac- tically the confiscation of the prop- erty of the corporation. He declared that the fourth amendment to the Constitution could not be circum- vented by any officer of the Govern- ment and that he considered it the duty of the court to protect the rights of citizens, and that the due process of law must be applied. Harrison Knight, Edwin A. Snyder and Harry Pickman, officers of the corporation, were arrested at the time of the rald, and were charged in a Federal warrant with violating sec- tions of the securities and exchange act of 1933. TIRE SHIPMENTS MOVE DOWN DURING OCTOBER By the Associated Press. NEW YORK, December 18.—Ship- ments of pnuematic casings in Octo- ber totaled 3,009,714 units, reports the Rubber Manufacturers’ Associ- ation. This compares with shipments of 3,182,903 casings in September and 2,536,971 in October last year. Pro- duction amoutned to 3,286,902, against 2,935,958 in September and 3,428,658 | in October, 1933. Inventory at the end of October was 8,656,799 casings, against 8,418,906 on September 30 and 8,461,735 a year ago. had little or no kick about bank exam- ination policies and procedure. The area investigated embraced Illinois, Indiana, Iowa, Michigan and Wis- consin. WHOLESALE INDEX DECLINES IN WEEK Fertilizer Association Finds Drop of Three Points to 75.2 Level. ‘Wholesale commodity prices de- clined during the Ilatest week, ac- cording to the index of the National Fertilizer Association. This index for the week ended December 15 was 752 compared with 75.5 in the pre- ceding week, 75.8 a month ago, and 68.1 a year ago. The index declined three points during the preceding week. The record low point reached by the index was 55.8 recorded in March, 1933. (The three-year aver- age 1926-1928 equals 100.) Five of the component groups de- clined last week, while six advanced. In the preceding week three of the groups declined and four advanced. The declining groups last week were foods, grains, feeds and live stock, house-furnishing goods, fats and oils and agricultural implements. Groups which advanced were textiles, miscel- laneous commodities, building mate- rials, metals, fertilizer materials and mixed fertilizers. The prices of 27 individual com- modities decliced last week, while the prices of 28 advanced. In the week preceding there were 19 declines and 33 advances. Seven of the commodi- ties in the fatr and oils group de- clined in the latest week, while three advanced in price. Nine commodi- ties in the grains, feeds and live stock group declined compared with 14 declines in the preceding week. Eggs, corn, hogs and tin were among the commoditiez which declined in the latest week. Cotton, rayon, milk, potatoes, sheep and scrap steel ad- vanced in price. SANTA FE ORDERS RAILS. NEW YORK, December 18 (#).— The Colorado Fuel & Iron Co. received the greater share of the rail order placed by the Santa Fe Railroad, ob- taining 22,867 tons of the total of 25,883 tons awarded. The remainder was divided between the Illinois Steel Co., Bethlehem and Inland Steel Co. The Arthur Jordan Piano Go., 13t & G Sts. TEN-DAY SALE OF FINE PIANOS The Ideal Christmas Gif Christmas Grand Special = 3325 with duet bench Trade in your old style piano. No cash necessary. Start paying next year.' Why not make this Christmas a musical one for the family A piano lasts a lifetime. A gift both of beauty and education. without the setting of a grand piano. Every woman knows that her home is not complete Here is a purchase that we made from one of America’s Leading Manufac- New Pianos in Stock Our second and third floor are just full of wonder- ful Grand Pianos made to sell to suit every pocket- book. Large Studio Grands, Parlor Grands, Baby Grands and the favorite of all the small Apartment Grands. Also a large display of small Apartment Uprights. A whole room of used practice Uprights. Mason & Hamlin Chickering Marshall & Wendell Cable & Sons Schubert Huntington De Kalb Emerson Gounard Leonard Jordan turers that we pass on to you the advantages of considerable savings in price. This Special Grand offer is a real bargain in quality and tome. is gone we do not think it possible to again duplicate thiis offer. you to come in and take your time in making your selection. We think that we really have the largest selections Beauty in case- of Grands to offer you south of New York. Will Buy Store Open Evenings Until Xmas 51 Week Will Pay You cannot afford to let this offer pass you by. Think of purchasing a ing charge. Come in at once. fine, brand-new Grand, Upright or Player at only $3 down and §1 & week, plus a small carry- None higher—you may pay more if you wish. Your old piano, radio or phonograph will be acceptable in trade at a liberal allowance. ARTHUR JORDAN Cor. 13t &« G 1239 - When this supply We are Open Evenings for Schilling And others Several Used Grands Chickering—Mason & Hamlin Steinway—Cable & Sons NEW APARTMENT UPRIGHTS 195 IISED PRACTICE PIANOS hhoahnpl.....ss Francis Bacon ..... 87 Kohler & Campbell 49 Webater .......... 58 Kimmel Sherwood ........ 47 gy . 98 . 95 ....198 .ee Fischer .......i... 58 ww..d.u 195