Evening Star Newspaper, December 19, 1934, Page 18

FINANCIAL., STOCK LIST STAYS NEAR DAY'S LOWS Selling in Utility Shares Pulls General Market Downward. FINANCIAL TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE by Private Wire Direct to The Evening Star. A—18 ¥=» BANK HEAD HAILS OUTLOOK FOR 193 Rolfe E. Bolling Enters] Upon Fourth Year at Liberty National. 2:30 2:30 p.m. Sale — Stocks and es— Bales— Add 00, High. Low. Close. Chse. | High. Low. Dividend Rate, Add oo. High, lm 6 Adams Expr- . 6% 6% — %| 17% 8 Crosley Radio...... 1 6% Addressogral ! 5\( !M SK % lflfi 18% Crown Cork & 8 (1), 4% Affiliated Prad (60¢) 8 3% Crown-Zellerback. s 113 91% Air Reduct'n t4% .. 9 44 Crucible Steel pf..s 1% Airway Elec Appli. 1 CubaCoO.vevvsvsnam 23% 16% Alaska Jun (11,20) 9% 3% Cuban-Am Sugar... 5% 13§ Alleg Corp (K)....s 66 20% Cuban-Am Sugar pf 'IOI 16% 5% Alleg Cp w$30w (k). 29% 13% Curtis-Publishing. 14% 5 Alleg Cp wid0w (k), 95% 43% Curtis Pub pf (“)..x 2 23% 15 Allegheny Stl h30c.; 28 Previous 2:30 o.m.. Net | ~— 1934 — Stocks and Bales— High. Low, Close. Chge. | High. Low. Dividend Rate. Add 00. Hll. 9 79 McKeesport T P (4), 91 91 + %| 89 67 Shell UnionOilpf.. 1 9% 4% McKesson & Rob 17 8 8 —%| 12% 8 SilverKingCM4lex 2 ]0 11% McKesson & Rob pf: 88% 88% + %| 244 8% Simmons Co. 8 1 McLellan Stores (k) 14% 16 = %| 17% 7% Simms Pet (h55¢).. 915 McLellan Strs pf(k) 90 6% Snider Packing.... 22 Mack Truck (1).... 26% 123% Socony-Vae (60¢) .. 85% Macy (R H)& Co(2) 444 86 SolvAmpfwwhl. 15% Magma Copper (2).. 20 21 8o Por Rico Sug (2). 1% Manati Sugar pf (k) 10% South Cal Ed (1%). 10% Man Elevm g (k)... 14% Southern Pacific..a Previous ~— 1934 -~ stocks and High. Low. Dividend Rate, Previous 2:30 p.m. ~— 1934 — Stocks and Bales— Neo High, Low, _Stocks and dividends, 7 15% 13 18% 17% -1 B4 14 13% 14 - % 8 108% 108 108% + % 21% 21% 21% — K 11% 10% 10% — % 18% 18% 184 + % 1T% 17% "17% — % BY EDWARD C. STONE. Rolfe E. Bolling began his fourth year as president of the Liberty Na- tional Bank today. Seen at the bank, he expressed op- timism over the 1935 outlook. It will be a better year than the one now closi he believes, giv- ing that opinion after a careful study of business, banking and other economic conditions having direct bearing on the next 12 months. So far as the recovery stages of the depression are concerned, the banker thinks that the experimental period is passing. Business experi- ments which have been found effec- tive, will be continued, while others will be dropped if they have not already been discarded. This will wipe out uncertainty from business and Is sure to prove most helpful. ‘There are a host of factors and un- derlying trends which indicate bet- ter times ahead. So far as Washington is con- cerned, Mr. Bolling considers that the last year has been very sati: factory in many ways. A steady business upswing has been notable all the year. It will only be necessary to continue present trends to make 1935 an excellent period of improve- ment. While the bank president knows Lhere is a long road to trawl before what sre known as normal times will be reached, his cheerful- ness 1s catching. The tremendous ef- forts being made to improve busi- ness and economic conditions are bound to have results. Mr. Bolling went to the Liberty National from the Federal-American Bank, where he was a vice presi- dent. He was president of the Mer- chants’ Bank & Trust Co. when that institution merged with the Federal- American, having been elevated to * the position on the retirement of Peter A. Drury. Starting his bank- ing career in Baltimore, he organized banks in Panama and was in New York for years. He is a brother of Mrs. Woodrow Wilson and a native of Virginia. Union Trust Co. 35 Years Old. Union Trust Co. officials were re- ceiving congratulations today on the bank’s 35th birthday anniversary, which came along yesterday. Ord Preston, who suc- ceeded the late Edward J. Stell- wagen, is now president of the institution, _and the other officers include George E. Hamilton, vice president, attor- ney and trust officer; Walter S. Harban, vice president; George E. Fleming, vice president and assistant trust officer; Edward L. Hillyer, vice president and second assistant trust officer; W. Frank D. Herron, vice preSident; S. William Miller, treasurer; G. Elmer Flather, assistant treasurer; Harry F. Harding, assistant treasurer; Irving Zirpel, sec- retary and third assistant trust office: J. Wesley Clampitt, jr., assistant sec- retary; Willard G. McGraw, assistant secretary; George E. Hamilton, jr., assistant attorney, and Walter M. Mc- Curdy, auditor. In addition to severalgf the above officers, the board of ectors also includes A. L. Baldwin, J. Harry Covington, Joseph H. Cranford, G. ‘Thomas Dunlop, Walter S. Harban, D. J. Kaufman, H. C. Newcomer, D. W. O'Donoghue, jr.; John H. Small, Luther F. Speer and Charles F. Wilson. The last ¢ondition statement, dated October 17, shows resources of $11.- Rolfe E. Bolling Ord Preston. 160% 115% Allied Chem (6)...0 28! 10% Allis-Chalmers....: 111 Alpha Port Cement.. 214 Amal Leather...... 39 Amerada Corp (2).. 25% Am Ag Chem Del(2) 11% Am Bank Note..... 19% Am Brake Shoe 96 Am Brake Sh pf ('l)‘ 90% Am Can (15).. 12 Am Car & Foundry 4% Am Chain. . ceeed 19 AmChainpf.... 46% Am Chicle (13%)..3 20% Am Comcl Alcohol. 614 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) 614 Am & For Pw 2d pf. 3% Am Hide & Leather. 17% Am Hide & Leath pf 26% Am Home Prod 2.40, 3 AmIceCo... B 25% Am Ice pf (6) 4% Am International. .y 3% Am La Fran pf (k). 14% Am Locomotive.... 36% Am Locomotive pf.; 12% Am Mch & Fdy (1 31 Am Mach & Metals., 415 Am Mach & Met ctf. 127 Am Metals. . 314 Am Power & Light 10% Am P&L $5 pf (1%) 11% Am P&L $6 pf (1%3) 10 Am Radiator. . 18% Am Rolling Mills... 214 Am Seating. . = 8 Am Ship & Com 17% Am Shipbldg (2 30% Am Smelt & Ref. 71% Am Sm&Ref 6% D 125 100 Am Sm&Ref pf (T)u 71 26% 92 4% 72 48% Am Snuff (13%)...s 10% Am Steel Foundry.. 69% Am Stl Fdry pf (2). 87 Am Stores (12%)..4 46 Am Sugar (2) . 129% 103 Am Sug pf (7). 24 13% Am Sum Tob HKh 125% 100% Am Tel & Tel (9).. 85%% 89 28% 27% 1T% 83% 4% 65% Am Tobacco (5)...s 67 Am Tobacco B (5).. 7% Am Type Fdrs pf (k) 12% Am Water Wks (1). 7 Am Woolen.. 86 Am Wool pf (h2%). 1 Am Writ Paper (k). 3% Am Zinc & Lead. 10 Anaconda Copper 9% Anaconda Wire 13% Anchor Cap (60c). 84 Anchor Cap pf(6%) 264 Archer-Dan (113).. 314 Armour of Illinois. . 46% Armour Il pr pf (6) 3 Arnold Constable 46 Asso Dry G 1st pf. 36 AssoDry G 2d pf... 45% Atch To &S F (h2).. 24 Atlantic Coast Line. T% Atl Gulf & W Ind pf 2114 Atlantic Ref (1)...: 83 Atlas Powder pf (6): 161 Auburn Auto - 7 Austin Nichols 3% Aviation Corp Del 415 Baldwin Loco. 134 Baltimore & Ohio. 16 Baltimore & Ohio pt 95% Bang & Arros pf (7) 16% Barker Brothers pf. 57 Barnsdall Corp. . 23 Bayuk Cigar (g1).. 89 Bayuk Cig 1st p£(7). 10% Beatrice Creamery.. 8% Belding-Hem (h50c) 9%, Bendix Aviation...s 12% Beneficial Loan 1 26 Best&Co (1%). 241 Bethlehem Steel 547 Beth St pf (j1%). 19% Bigelow-San (h1). 6 Blaw Knox.... 130 128% 129 -3% % 14 16 34 4T% 45 14% 24% 3 - N Y P = T EY 3 ® oy 9615 = 0O & 03 1t ok 8 b =3 10 l XOJ 37 87 5 6614 65 8314 59 524 33% 8 % 23% 105 25 14% b 5% 13% 16% 114% 17 B!oomingdnle (40c). )001 28 Blumenthal pf. o 6% Boeing Aeroplane. .. 44% Bohn Alumn& Br(3) 76 Bon Ami (A) (15). 19% Borden Co (1.60) 16% Borg Warner(t1%), 12 Briggs Mfg (11%).4 26 Bristol-Myers t2 Zfi% Bklyn-Man T (hl Bklyn Union Gas(5) 45 Brown Shoe (3).... 6 Bucyrus-Erie cv pf. 3 Budd (EG) Mfg. 16 2 Budd Wheel. 5% Bullard Co. 4 Burns Bros p: 10% Burr Add M (nMSC) % Bush Terminal (k).. 5% Bush Tr Bldg pf ct. 1% Butte Copper & Zine 14 E 10% Deere & Co..oovvens Delaware & Hudson. Pf...q Devoe &R (A)(12) 4 Devoe & R 1st pf(7). Diamond Match (1) 23“ Diamond M pf (1%) 82 Dome Mines (13%). 11 Dominion Strs(1.20) 14% Douglas Ajrcraft... 5 Dresser Mfg (B)... 3 Dunhill Internatl. .3 80 Dupontde N (13%). 127% 115 Du Pont deb (6).... 107 90 Duquesne Lt 1st (5) 116% 79 EastmanK (t4%).. 141 120 Eastman Kod pf(6), 20 11% 43% 23% 14% 12% Eaton Mfg (1)...0en 6 Eitington-Schil 15 Electric Auto L 8 Electric Boat. 6% Elec Pwr&Lt $7 pf.. 84 Elec Stor Bat (2%). 10% Eng Pub Sve $5 pf.« 8% - % 24% - % a -1 18 =% ‘ 10 B5% 64% bB4% — 10s 117 117 117 +2 3 251 254 254 338 — % 38y — % 1% = % 2% - % 6% — % 1 4% 4% - % 51 93% 92% 934k — % 2128 127% 128 +1 108 104% 104% 104% + % 18 111 109% 110% +1 10s 140 140 140 —2% 1% 17% — 8 + 8 26% 26% — a4 - % Th+ 2 2% — 6% 61— 2 33% 10 381 2 11% 16 2% 2 6% 13 Eng PubSve $6 pf.s _ 5 Equit Office Bld 9% ErleRR. 4% ErleRR 9 Erie RR2dpf 9 Evans Auto P(50c). 1 Fairbanks Co. 3% Fairbanks Co pf 7 Fairbanks-Morse. .. 30 Fairbanks-Mrs pf. . 4 FedLt& Trac.....s 84% Fed Lt&Trac pf(6). 2% Fed Motor Truck. .« 1 Fed Water Svc (A) 20 Fed'd D Stores (1). 23% Fid Ph F In (1.20). 13% Firestone (40c).. 71 Firestonepf A(6).4 543 First Nat Strs(2%). 2 Follansbee Bros (k) 10% Food Machinery.... 81 Foster-Wheeler.... 55 Foster-Wheeler pf.. 6% Foundation Co..... 17% Fourth N Inv(h85c) 8% Fox Film (A) 21% Freeport/Tex: 6 Fuller Co 2d pf. 8% Gamewell Co 5% Gen Am Investors.. 30 Gen Am Trams(1%) 12 Gen Asphalt....... 6% Gen Baking (h65¢) « 1081% 100 Gen Baking pf (8).. 5 Gen Bronze. - 2% Gen Cable 143 Gen Cable pf... 97 Gen Cigar pf (7). 167 Gen Electric (60c). 11% Gen Elec Spe (60¢) 28 Gen Foods (1.80)... % Gen Gas & El (A)... 51 Gen Mills (3).. 24% Gen Motors (11343 1 89% Gen Motors pf (5).. 3% Gen Outdoors Adv.. 10% Gen Print Ink (1) .. 73% Gen Prtg Ink pf ). 2 Gen Public Service.. 231% Gen Ry Signal (1).. 10 Gen Realty&Util pf. 10 Gen Refracctfs. .. 81 Gillett Saf Raz (1) .y 47 Gillette Saf R pf(5), 2% Gimbel Bros......u 163 Gimbel Bros pf.... 15% Glidden Co (11.: 30).. 3% Gobel (Adolf). 16 Gold Dust (1.20)..en 96% Gold Dust pf (6). 8 Goodrich (BF)...e 85% Goodrich (B F) pf. 18% Goodyear T & Rub., 64 Goodyear $7 pf (4).. 3% Gotham Silk Hose. . 38% Gotham S Hpf (1) 4 Grand Union. 28 Grant (WT) (1) 12% Great Northern pf.. 8% Grt Nor Oreg(h50¢c). 25 Grt West Sug(2.40). 117\/. 102 Grt West Sug pf(7 83 47 Guif States Stl 1 —————— 8l 63% 9% 101% 3% Hahn Dept Stores... 25% Hahn Dpt Stores pf. 3% Hall W F Printing. . 84 Hanna (M A) pf (T) 13 Harb Walker (50¢) . 1% Hat Corp (A)eoeuen 19% Hat Corp pf 3 Havana Elec Ry pf 1% Hayes Body..... 74 Hazel Atlas G1 (5). 73 +1 6% — % 50 =1 5% 1 21% =1% 2% - % 154 = & 9ty = X 56 —1% 4% - % L+ 4+ it T4 107% 107% 5% 5 3% 3 26 26 w1 121 19% 19% 12 124w 34U 3% k) % 60% 601 Y 14 30% 308 — % 1 107% 107% 107% % 5 3% 3% 1508 21% 21% - % 10s 923, 92% + % 2% 2% 25% 25 —1% 14y MY = % 16% 16% 18% 13% — 4 T0% T0% — 1 3% 3% — % 29 26% 3% 1% hod 1148 114% +1% 10% 1+ 9 S - COC3 N E 1 i 00 =113 10 D 03 13 69 OV O m3 b N 00 34 — 16% — 11% — 27% - 118 + 68 +2 FEFFEEF 4 120s 118% 118 30s 58 68 12 6% 6 6 — % 1 59% 69% 69% — U 1 Th Th Th+ W 10s 101% 101% 101% + 3 4 17 16% 17 + 15 6% 85% 3 3% 831 739. 615 884 10% Manhat Shirt (60¢)« 4% Marancha Corp. ... 5% Marine Midld (40c). 8% Marshall Field..... 23% Mathieson Alk(1% ) 30 May Dept Str (1. sa). 4% Maytag Co..... 10 Maytag pf ww jl% « 49 Maytag 1st pf (6) 26 Melville Shoe (2)..s 3% Mengel Co. 24 Mengel Co pf. 20% Mesta Mach (1% 8 Miami Copper | 9% Mid-Cont Pet( 6% Midland Steel Prod. 44 Mid St Pistpf (4). 1% MStP&SSMlisin 86 Minn-Hon Reg (13). 1% Minn Moline Pow... % Minn & StL (K)...e 4% Mo Kan & Texas. 13% Mo Kan & Texas pf. 1% Mo Pacific (k) ' 2% Mo Padific pf (k). 12% Mohawk C M (h25¢c) 89 MonsantoC (11%). 20 Montgomery Ward., % Mother Lode. 15% Motor Products...a 6% Motor Wheel.... 5% Mullins Mfg. 12% Mullins Mfg pf. 3% Murray Corp. 14 Myer(F E)&Co 1. GO 824 12% Nash Motors (1). Nat Cash Reg A 60c. Dairy Prod 1.20, Dept Store (k). Nat Dp St 1st pf(k). Nat Distillers Nat Lead (5). 6% Nat Pwr & Lt (80¢). 34% Nat Steel (1) . 33% Nat Supply pf. 9 Nat Tea (60c) 9 NYChicago&StL. 16 NYC&StLpf.. 120 112 N Y & Harlem pf(5) 1% % N Y Investors (k).. 244 T N Y N H & Hartford 37% 11 NYNH&HD!.... 11% 43 N Y Ontario & West 22% 9% N Y Shipbldg (40c). 89% 72 N Y Shipbldg pf(7) 99% 73 N Y Steam pf (6).., 45% 30% Noranda Mines (h2), 187 161 Norfolk & W (t10)., 8% 2% North Am Aviation. 26% 10% North Amer (1).... 45 34 North Am Co pf (3). 47% North Am Ed pf (6); 143 Northern Pacific. 33 Northwest Tel (3).. 1% Norwalk Tire&Rub. 29 NorwalkT&R pf3 15% 8% Ohio OlL (hdsc) 2 Oliver Farm Equip.. 2% 5 Oliver F Eq pr pf A. 6% 3% Omnibus Corp 19% 134 Otis Elevator (60c). R 3% OtisSteel.......... 47 32% Outlet Co (12%). 94 60 Owens-Ill Glass (4). 6% 1% Pacific Coast... 23% 12% PacificG& E (1%) 37 20% Pacific Lighting (3) 34 19 Pacific Mills (h50c). 2 70% Pacific Tel & Tel (6)x 60 us 103 Pacific T& T pf (6). 9% 6% Pac W'n Oil (h40c). 6% 2% Packard Motor..... 2% % Panhandle Prod&R.. b% 1% Par-Publix ctfs(k). 6% 23 Park Utah.. . 44 % Pathe Exchange 24% 10% Pathe Exchange(A) 21% 9% Patino Mines...... 67 44% Pennick & Ford (3). 74% b51% Penney (J C) 14.40.x 53 T% 2% Penn Dixie Cement. 39% 20% PennRR (h1). 66 21 Peoples Drug § (13) 43% 19% Peoples Gas Chi...« 17% 9% Pet Milk (1) ' 14% 8% Petrol Corp (h30c). 18% 183 Phelps Dodge(h75c) 364 24% Phila Co $6 pf (3) 6% 3% Phila & Read C & L. 48% 113 Philip Morris (1) 20% 13% Phillips Petrol (1).; 13'% 4% Phoenix Hosiery..u 6'a % Pierce-Arrow (k) 1% 15 Pierce Oil.. » 34% 183 Pillsbury Flour1.60. 4% Pitts Screw & Bolt.. 8% Pitts Term Coal pf.. 25% Pitts United Cpf... 11% Pitts & West 1% Pittston Co. es 133 &% 11% Southern Rallway. 14 Southern Rwy pf. 19 5 Spalding (A G).... 80% Spalding (AG)1st pt 2% Sparks-Withington. 15% Spencer Kellog 1.60. 5% Sperry Corp (25¢) .+ 19 Spiegel-May-Stern.. 17% Stand Brands (1) 4% Stand Gas & Elec 5% Stand G & E1 4% pf. 11% Stand G & El 6% pf. 13% Stand G & E1 7% pf. 26% Stand Oil of Cal (1). 96% Stand Oil Exp pf(5) 23 Stand Oil of Ind (1) 39% Stand OII N J(11%) 6 Starrett LS (RG0c). 47% Sterling Prod (3.80), 3 Sterling Secur pt... 30 Sterling Secur cv pf 43 Stewart-Warner. .., 4% Stone & Webster. 1% Studebaker (k) 51% Sun Oil ($1). 118 100 Sun Oilpf (6). 3 1% Superior Oil. 4% Superior Steel. 6% 3% Sweets Co of A % Symington......... ———— 6% 3% Tennessee Corp. 19% Texas Corp (1).. 80 Tex Gulf Sulph (2). 13% Texas & Pac RR.. 4 2% Tex Pac Coal & Oil., 6% Tex Pac Land Trust 8 Thatch Mfg (h25c). 39 Thatcher M; 2% Thermoid Co 4 Third Avenue. 13% Third Nat In (h85¢) 4% Thomp'n(JR)(50¢) . 10 Thompson Products 1% Thompson Starrett. 8 Tide Water Asso... 64% Tide W A pf (J8% ). 24 Tide Wat Oil(h1%). 80 Tide Wat Oil pf (5). 3% Timken-Detroit.... 24 TimkenRB (11%). 5% Transamerica h25c. 4% Transue & Willia: 3% Tri-Contl Corp. 60% Tri-Contl pt (6) 83 Trico Prod (2%) 1% Truax-Traer Coal... 3% Truscon Steel. 1% TwinCity RT _— 1 Ulen & Co... 35% Un Carbide & C 1.40, 11% Un Ot of Calif (1).4 90 Union Pacific (6) . 71% Union Pacific pf (4). 15% Un Tank Car (1.20), 8% United Aircraft.... 33 United Air Lines&T 29% 213 Unit Biscuit(1.60).. 120 107 Unit Biscuit pf (7). 35 United Carb (2.40). 8’. 2% United Corporation. 24'% United Corp pf (3).. 9% United Drug......s 3% United Elec Coal 69 United Fruit (3) 11% Unit Gas Imp (1. 4 ®nit Piece Dys 30 Unit PieceDW Df 1% U S Distributing... 63% U S & For 1st pf (6) 1 34% U S Gypsum (11%). 3 145 115 U S Gypsum pf (7). 4% U S Hoffman. .. 29% 50% T m. 51 103 24 5% 1% 31% 1234 36% 80 11 U S Rubber. 24% U S Rubber 1 96% U S Smelt & R (h9) 544 USSm&RDf (3%) 298 United States Steel. 67% U S Steel pf (2).... 2% United Stores (A).. 54 Unit Stores pf(3%) 40% Univ Leaf Tob (13). % Univ Pipe & Rad. .. | 4% Univ Pipe & Rad pt. 100s 1% Util Pwr & Lt (A) % Vadsco Sales Cor) 14 Vanadium Corp. 8% 4% 1% 64 1% ™ % 4N L et MR REN R BB D £ 3.60 3 [T CYSTERR PRS- 10s 143 1 5% U S Leather.......; 7 US Leather (A)... 24% Vick Chem ($2.40) . 65 Va El& Pwr pf (6). 52 Vulcan Detin (h3).. 11 Wabash (k). 2% Wabash pt (A)(M 4 Waldorf Sys (h20c) 17% Walgreen Co (m1). 8415 Walgreen pt (6%). x 10; 2% Walworth Co. 1% Ward Baking ( 2% Warner Brog Pic.., 23 15 Warner Bros Pic pf. 10s 1 Warner-Quinlan... 3% Warren Bros. . 15% — % -% T — % 48% —1% 5% — % 32 + W ) 115% 116 + % % 1% BY VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, December 19.—Selling in utility shares pulled the general stock list lower today. Activity was moderate. Late prices were around the low levels for the day. Consoli- dated Gas dipped around 3 points to a new low for recent years. Public Service of New Jersey and American Telephone yielded as much. Allied Chemical dipped 4 points. U. 8. Steel was off nearly & point. Transfers ap- proximated 950,000 shares. The selling started in the public utility shares, with Consolidated Gas breaking to a new low coincident with discussions in Washington of provid- ing funds for a municipal plant to provide a “yardstick” to bring down New York City rates. Selling spread to other parts of the list, but soon sub- sided, and by early afternoon the list was quiet and a trifie above the lows. Consolidated Gas and Public Service of New Jersey dropped about 2 points before meeting support. J. C. Penney declined as much, and Allied Chemical slipped down 3. Losses of a point or so appeared in American Telephone, Bethlehem Steel, Santa Fe, U. 8. Smelting, Howe Sound and National Biscuit, while fractional recessions of about 17 were shown by U. S. Steel, Loew's and Sears-Roebuck. Eastman moved up more than a point and oils, rails and motors were steady in the main. New developments in the utility situation were something of a blow to some quarters in Wall Street, who had looked for a “truce” to develop from President Roosevelt's conference with several leaders in the industry recently. Some traders seemed disposed to take profits in merchandising shares as the holiday trade season drew to- ward its close. A survey of its mem- bership of department stores by the National Retail Drygoods Association placed Christmas sales this year at 16 per cent above 1933 and the best since 1931. Some instances have placed the volume at the highest since 1930, including all types of stores. Some of the railroad freight load- ings reports for the week ended Sat- urday show further gains over 1933. New York Central reported 953,363 cars, against 90,31 in the same week last year. On the whole, midweek business statistics showed a continua- tion of the recent upward trend, COTTON EXPORTS STAY FAR BELOW 1933 MARK By the Associated Press. ‘The Commerce Department reports that cotton exports for the week end- ed December 14, amounted to 108,086 bales, a decline of 33 per cent from the same week last year, and-a drop of 29 per cent from the corresponding week two years ago. Great Britain and Japan were the only principal importing countries which took more American cotton last week than a year ago. Internationally Famous for Nearly a Century (Since 1858.) __1107 Connecticut Avenue Appli vited Loan: it e 15 i) properties. Tyler & Rutberf ord, Inc. spondents llu!-ax Benllt I.m luuum Co. 1520 K St. NW. Na. 0475 “Where Savings Are Safe Columbia 59 Hercules Pw (13% 48% Hershey Choc (3)... 83 Hershey C pf (15).. 1% Butterick Co.... 13% Byers (A M). 104% 18% California Pkg(1%) 10% 4% Holland Furnace... 14 Callahan Zinc. . 13 5% Holland & Son (50¢) 2% Calumet & Hecl 3 430% 310 Homestake M (130).x 8 Warren Bros cv pf.. 13% Warren F& P (h1).x 8 Webster Eisenlohr. % Wells Fargo....... 15% Wesson O & § (1) .. 52% Wesson O & S pf(4) 766,623.49 and deposits of $9,026,045.49 and $2,000,000 in capital stock. The Union Trust Co. is housed in one of the most attractive bank buildings in ‘Washington, being located at Fifteenth T% Plymouth 0Oil (‘he.. 6 Poor&Co (B).....e 2% Port Ric Am Tob A. 10% Postal Tel & Ca pf.. 1% Pressed Stl Car (k). 82% % = % 3 - 14% — % 72 l 104% ]01% 104% + 1 . . w B Building 1% 6% and H streets. During the 35 years the bank has enjoyed substantial business growth in all departments. Gov. Black’s Death Mourned. ‘Washington bankers were greatly shocked when informed of the death of Gov. Eugene R. Black of the Federal Reserve Bank of Atlanta early today. A telegram received at the Riggs National Bank was the first ‘word received in the financial district. It was not known here that he had been ill. Gov. Black resigned several weeks ago as head of the Federal Resérve Board to resume his old position at Atlanta. When he first came to Wash- ington he said he did not wish to stay here indefinitely,. On leaving the Reserve Board he was appointed liaison officer between the banking interests of the country and the ad- ministration. In carrying out these extra duties he made a great many addresses all over the United States and may have overtaxed his strength. Gov. Black was a brilliant man, admired and respected by other banking leaders. ‘While he started his career as a lawyer, he came to be one of the leading financial authorities of the country. His place will be hard to fill. Financial District Gossip. G. Bowie Chipman, manager of the Washington office of Laidlaw & Co., has returned from a short trip to New York. Right now New York is more impressed by the tremendous volume of retail trade than by anything else. ‘Wall Street is doing a lot of guessing and some worrying about the next ses- sion of Congress. National Dairy Products Corp. an- nounces that James Bruce, son of for- mer Senator Bruce of Maryland, is to join the executive staff of the com- pany, probably as a vice president. He recently has been adviser to the Home Owners’ Loan Corporation, but is best known to local bapkers as for- mer president of the Baltimore Trust Co. John M. Riordon, executive vice president of the Bank of Comierce & Savings, is taking a vacation. He will wvisit New York and pass the remainder of the time in Virginia. The Treasury reports that $75,020,- 000 bids have been accepted for the 182 Treasury bills, dated December 19, out of $333,129,000 applications. Today’s Trading on Exchange. The weather evidently put a crimp in trading on the Washington Stock Exchange today. Capital Traction bonds appeared on the board in $1,000 and $500 transactions, both made at 89%. In the stock division two 10- share sales ‘were recorded in Mergen- thaler Linotype at 33%. Bid and asked prices on other issues were little changed. 29% 18% 86% 924 3% 44% 22% .32% 92 12% 108 44% 48% 8 644 864 2% 22% 51 84% 9% 6% 123 Canada Dry G A (1) 10% Canadian Pacific. .« 35 Case (JI)Co.... 56% Case (J I) pf (4) - 23 Caterpillar Tr t1% = 17% Celanese COrD..coas 63 Celotex Co pf (K)..s 18% Cent Aguire (1%).. 53 CentralRROfNJ.w 5% Century Rio Mills. .. 82 Century RibMpf (7). 80% Cerro de Pasco (2 39% Ches & Ohio (2.80).3 1% Chi & E I11 pf (K)..e 1% Chi Great Western.. 3%, Chi Great West pf.. 216 Chi Mil St P & Pac.. 3% Chi Mil St P &P pf.. 4% Chi & Northwestern 81 Chl & Northwest pf. 3% Chi Pneumatic Tool. 14% Chi Pneu Tool pf. 1% Chi R1 & Pac (k). 2 CRI&P6% pf (k). 19% Chickasha C O (2) 3% Childs CO..cveevens 29% Chrysler Corp t1% . 17% City Ice & Fuel (2)» % 9% ' 9% — lfll 108 108 108 +3 53 4% 4l% 41% — 40 43% 43% 1 1% 1% 2 2 31 21, 3% » PR 10 CO N O BT e O e N b o 67 City Ics&prG*.; IWI % City Stores. . 3 City Stores ctf: 24 City Stores (A). 2 City Stores(A)ctfs. 24% Cluett-Peabody (1). 95 Cluett-Peab'y pf (7) 954 Coca-Cola (17).se0a 50% Coca-Cola (A)(3).. 9% Colgate-P-P (175¢). 68% Colg-Palm-P pf (6). 10 Collins & Alkman. .y 384 Colo Fuel & Iron(k). 8 Colorado & South. 13 Cole & Sou 1st pf. 6% Col Gas & Elec. . 52 ColG&ElIpfA (E). 21% Colum Pic vte(m1) . 58 Colum Carb (13.60) 18% Comel Credit (2)..+ 38 Comcl Credit(A)(3) 911% Comcl C 1st p£(6%). 36% Comel Inv Tr(12%) 91 Comecl Inv cv pf(e6) 16% Comcl Solv (60¢)... 1 Comwlth & South. .y 21% Comwlth & S pf (6 5 Conde Nast Pub. 22 Congoleum-N (! Tl Congress Cigar. 47% Conn Ry & Lt (1%). 5% Consol Cigar. . 13 157% b41s 16% 101 12% 4 19 14 7 56 384% 71 BBK 4 45% Con Cg pr pf ww 635 lflgl 81 Consol Cigar pf(7).; 185 Consol Film.......i 10% Consol Film pf (j2). 21% Consol Gas N Y (2). 80 Consol Gas pf (5) 6% Container Corp (A). 2% Container Corp (B). 6% Contl Baking (A)... 7 Contl Baking (B)... 44% Contl Baking pf (4). 56% Contl Can (2.40)...: 23% Contl Insur (1.20) % Contl Motors...... 16% Contl O Del (h50¢).. 40% Corn Ex Bk & Tr(3) 200! 56% Corn Prod Ref (3) 3% Coty Inc. 28 Cream of Wht HK. \ 3T% 11. Houd-Hersh A §2%« 2% Houdaille-Hersh B,; 43 House Finpf (3%) 214 Houston O1l (new) = 35% Howe Sound (3). 6% Hudson Motor Car. 1% Hupp Motors..ccees 13% Illinois Central..... 22 Illinois Central pf.. 214 Indian Refining.... 19% Indus Rayon (1.68).x 17 49% Ingersoll-Rand (14). 84% Inland Steel (h50c). 2% Inspiration Copper., 5% Interboro RpTr(k) 4 Interlake Iron. 164 131 Int Bus Mach (DG) . 12% 3% 46% 9% 6 29% 2% 24% 57% 66% 111% 4% Int-Carriers Ltd 20e 18% Int Cement (h25¢) . 231 Int Harvester (60c) x 48 214 Int Hydro Elec (A). 21 Int Merch Marine. ., 21 IntNiek Can (60¢)., % Int Paper & Pw ($) 81 Int Paper & Pw pf. 9 IntPrint Ink h50c. . 66 Int Print Ink pf (6). 7% Int Rys Cent Am pf. 19 IntSilver..... 59 IntSilver pf (4). T4% Int Tel & Tol.eveose 83 Jewel Tea (13%3)..s 89 Johns-Manville..... 45 Jones&Laugh 7% 6% Kans City Southern. 11% Kans City South pt. 6 KaufmannDeptS40o 13% Kayser(J)&Co h50c. 1% Kelly Spring Tire. .. 5 Kelly Sp Tire 6% pf 11% Kelvinator (170¢) .+ 16 Kennecott (h45c). 13% Kinney (G R) pf. 13% Kresge (SS) (1). 36 Kress (S H)(f1) 23% Kroger Gr&Bk 1. 22% Lambert Co (3)...« 7 Lee Rub&Tire(40c) s 65 Lehigh Val Coal pf. 9% Lehigh Valley RR.3y 643% Lehman Corp (2.40). 22% Lib O-Ford G1(1.20) 17% Life Saver (1.60)... 74% Ligg & Myers B(15). 1523% 129 Ligg & Myers pf (7) 26% 16 Lily Tullp Cup(1%) 36% 19% 35% 37 3 3 4% 224 15% Lima Locomotiv 11% Link Belt (60¢). . 16% Liquid Carb (t1%)« 20% Loew's Inc (fl%).. 1% Loft InC........ “ 1 Long Bell Lum (A). 33% Loose-Wiles (2)...3 16% Lorillard P ($2.20). 130 102 Lorillard (P) of (7). 30 MacAnd & F (12.35) 24 McCall Corp (2).... 1% McCrory Strs A (k). 1% McCrory Strs B (k). 6% McCrory Strs pf (k) 4 McGraw Hill Pub... 88% Mclntyre Porcu (2)i 15% — % 23 —-% 2% 29% =1 3 o 64k - % 2 48 +u 2% 17 +% 5% — % 4 314 31% +1 5 157% 155 -3% 5% 27% 2% — % 3% 3TH — 3 4 2% 2% - Y 5 2% 2% 46 22% 22% - % 9 % %% 13 ég% ;0% -% % 24 .a 100 100 100 ' P 508 16 =% 28 26 + % 71 71 -1 8% 8% =% 55% B5% + % Blu bl1% -1 53% B63% —1% 8% 31% 156 5% 8% = % 12% — % 8% + % 16% + % 1 =% % - % 16% — % 16% — % 27 20% — % 64 —-1 28% - 4% 278 = % ll -% 10'/0 % I’IK—% 21% 21% 21% 16 104% 103% IM% !t 1151 151 151 + % 4 18% 18% 1 21 30% 28 19% 19% 170s 130 129 130 10s 10 10 13 12% = % WUy % =% 40% — % 30 5% Pressed Stl C pf (k) 33% Proc & Gamb 11.70.. 117 102% Proc & Gam pf (5).% 45 . 26 PubServNJ (2.80), 84 ' 67 . Pub Serv N J pf (5). 97% 79 Pub Serv N J pf (6). 106 90 PubServNJpf (7)., 119% 105 Pub Serv N J pf (8). 1 59% 85% Pullman Inc (3) 14% 6% PureOiL.... - 19% 8% Purity Bakeries (1) — 91 4% Radio Corporation.. 55% 28% Radio Corp pf (A).. 46 15 Radio Corp pf (B).. 4% 1% Radio-Keith-Or (k). 6 Remington-Rand... 82% Remington-R 1st pf. 2 Reo Motor Car... 10% Republic Steel 3314 Republic Steel p: 15% Reynolds Metals(1) 39% Reynolds Tob B (3). 20% Roan Antelope Ltd.. 28% Royal D(h1.35 3-10) - 50 1 00 00 b 00 01 @ wS aw 38% Safeway Stores (3).x 15% St Joseph L (h30c).. 1% St L San Fran (K).. 1% St L San F pf (k) 15 Schulte Re Strs pf.. % Seaboard Air L (k) « 20% Seab’d Oil(Del) (11) + 2% Seagrave Corp. 81 Sears Roebuck. 1% Second Nat Invest.. 32 Sec Nat Inv pf (32). 4% Servel Inc 5% Sharon Stex 4 Sharp & Dohme.... 1 88Y% Sharp & Dpf (3%). 2 6% Shattuck (FG) 25¢. x 17 Shell Union Oil.... 8 49 13% 11% 6 STANDARD GAS REPORTS LOWER NET EARNINGS By the Associated Press. NEW YORK, December 19.—Stand- ard Gas & Electric Co. and subsid- iaries, excluding Deep Rock Oil Corp. and Bever Valley Traction Co., reports for the 12 months ended September 30 consolidated net income of $2,152,- 938, compared with $3,345,037 in the preceding 12 months. The current statement shows earn- ings equal to $4.74 on the company’s $7 cumulative preferred and $4.06 on the $6 preferred stocks, compared with sarnings of 22 cents a share on the $4 preferred, after full requirements had been deducted on the two senior is- sues in the preceding year. GLASS CHIEF HOPEFUL. le YORK, December 19 (#)—H. 8. Wherrett, president of the Pitts- 42% - % 115 28 26% 27% =14 T2% T Tl =1% 87 851 851 —2% 96% 96% 96% — 14 10% 110% 110% — % 4 46 = % 6% 6% — W 10 10 =% ¥ A% - % b4 bA% - 4 42% —=1% 2% - Y% % 45 West Pa Elec pt (6) 51% West Pa Elee pf (7) 78% West PennPw pf(6) 891 West PennPw pf(7) 1% Western Dairy pf A. 4% Western Pacific ptf.; 29% Western Union..... 15% Westingh’se AB 50c 27% Westinghouse Elec. 6 Weston Elec Inst... 14% Westvaco Chl (40c) 25 Wheel & Lake E pf. 34 Wheeling Steel pf.. 2 Wilcox Oil & Gas... 27% Wilcox Rich A(2%)x 4% Wilson & Co.. 12% Wilson & Co (A) 53 Wilson & Co pf (j7). 41% Woolworth (2.40)... 13% Worthington Pump. 31% Worth Pump pf A. 16% Wright Aero. . b54% Wrigley (W jr) T% 2% Yellow Truck... 9 " 47% 28 Yellow Truck pf. 10s 3 39 22% 13 Young Sp&W (1 33% 12% Youngstown S& '}.“). — 7% 3% Zonite Products.... 9 18% 18% kY Sales of Stocks on the New York Exchange. 11:00 AM.. « 280,000 12:00 Noon. cash payments based on the latest quarterly or half-year! declarations. s Unit of trading less than 100 shares. 9%in stock. a Paid last "“_";;:““mv :-nu SFavable i l;::t l:.]ulhll.%mm stock. h Paid this yea: s e Payal cash or stock. fPlusSl in speci: dividends paid this year. k Companies reported in :lce:"e';::d nPlus 3% o or being reorganized. New Life Policies Hit $676,757,000 During November By the Assoclated Press. NEW YORK, December 19.—New life insurance production in Novem- ber amounted to $676,757,000, a de- crease of six-tenths of 1 per cent from the $681,049,000 reported in the same month last year, according to reports to the Association of Life Insurance Presidents. In the first 11 monthl new r.droduc- tion, exclusive of revivals, increases and dividend additions, aggregated $7,766,856,000, against $7,097,346,000 in the same period last year, an in- crease of 9.4 per cent. Both ordinary and industrial in- surance increased in November, the report shows, while group “insurance declined, m Plus 5% stock p Plus 2% in stogk. x Ex dividend. in stock. Market Averages By the Associated Press. e ..14731} Da% é % S oo RIS Dbbpskm 1D 003 20 e i o o339y - it o ghotinst o yanie o 2000 2022 ;*!-'-- 5° oo NE PO Saatatvtatt 433, « 500,000 + 740,000 Dividend rates as given in the above table are the nmul b Payable tn J Accumulated e S R i HEaes Association 716 11th St. N.W, NAt. 6543 Ample funds available fo refi- nance existing trusts or modern- ize the home, . lIIIIIIIlIIIII|||||IIlIIIlIII!lIIIIIIIIII]|IlllIIlIIIIIHIIIHIIHIIII[I The Best Kind of Christmas Present —is offered through the Building and Loan Plan of Saving! . . . for it pro- motes habits of thrift and depend- ability! ® Regularly saving a portion of your salary each pay day will enable you to have the things you want Next Christmas . . . and in the meantime you have a CASH RESERVE to help you in an emergency! We Pay 5% —compounded semi-annaally 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 Pidelity” a Mndc!\y spirit of helpfulness and co- on. The Fide|ity Building & Loan Association MAIN OFFICE, 610 13th ST. N.