Evening Star Newspaper, January 1, 1935, Page 13

FINANCIAL BONDS ON NEW YORK STOCK EXCHANGE IN 1934 TOTAL BOND SALES. January 1, 1934, to date. Year ago .. TWO years ag By the Associated Press. NEW YORK, January 1.—Following is a table of transactions in bonds on the New York Stock Exchange during the year 1934. It gives yearly sales, price ranges and net changes from the previous year on bonds listed prior to January 1, 1934: Y sale Bonds, High. _Low. Last. UNITED STATES GOVERNMENT BONDS. (Fractions in U. 5. Government bonds are 32nds of a dollar.) Saiesin -~ LIBER1Y. Net thogsands, High. Low. Last. Cnge. 988 B8 10418 1004 3! 1006 ist 4s 111088 lowir 1st 45 . 100 10.268 st 4l4s 7 . 10L6 6L 1st 4les 33 1.2 dlas : B 102 4th 4 ] 10 101 4th 4les 101 4th 445 . 10216 101 4th 4les " J 101 $3,734,707,000 $3,375,757,000 $2,965,356,000 Net cnange, 104.2 10651 + 10,5 10 104015 5 1od1e s 31735 rew 11010 10030 FEDERAL FARM MORTGAGE. 35 '49 Teg . Bs 49 10128 101 101 100 9651 Net Bonds, s Last. _chauge. Abr & Straus 5'2s '4 93 1033 10 Acams Exp 45 4% 62 aG Ria "G Sou 53 93208 i 198,000 Ala Gt Sou 45 45 §6 1001 Taon 756,000 Al & Sus 3125 '46. .. 2 Bd WY -l 345‘ 000 Alb P Wrap ts '48. o6 6d E 7.864. ‘Alieghany 5s '44.. 51% 75! Aliegnany 5s 4 i3 Alieghany 5s ' Alleghany 5s Allegh & Wes Allegh Val ds ‘4 Am Beet Sug 6s "0, . Am Chain 65 . g Am Ice 3s ' Am Int Am Mach Am Roll M Am Smelt Am Sug Rei s - Am T & T 5'as '4 Am T & T col 5s '46.. Am T & T 55 '60 - E E 94.000 Am Wri Pap b 3,478,000 ‘Ang C Nitra 7s "4 439,000 {0 55 N £.000 713000 282000 6000 ot Line 4'2s ‘G4... & Dan st 45 45, 1 & Dan “d 4s '3% tl & Yadkin 45 ‘30 Atl City Ry 4s '51. Atl Gu & WI 5s 2o High. Low._Last. Yesr's 1.013.000 01,000 422,000 Tvaw00 iy 55000 40.000 2000 50,000 000 54,000 1000 1000 5000 3,954,000 000 02,000 451000 4,503,000 5000 00 )uu 0o o0 54000 1,17 7.000 )00 1414000 44000 000 833000 TR 88 CRI&P g 48 34 .0 CRI&P rig 4s cit '34. L&NOMem 45 '51 CStL & NO o8 ° CstL & NO 3'as '3 Clnte & BE b5 "60 CaH & SE 1nc 55 '0 ChiUnsta 6'as '63 CniUnsta 55 '63 B CniUnSta bs '44..... 10s% . 1054 100% Ch & W 1na 5Yas '62. 1042 L'nunsu 4'28 "0 Ch & W ind 4s Cailas Co Cnile Cop 58 '47 Cnoc OkL & G 55 52 . Cinn Gas & E 45 ‘68 Cinn H & D 4l ClaIStL&C 45 'u0 CinLeo&N 4s '+ CinunTerm os 2 Cinun'rerm 38 "C” 54 CCC&SLL os 8'U3. Cinunierm 47as 20 CCC & Stu 58 'u3 D) CLU & St L 4las (7B CCC & SU L Caids'39 CUC&DLL 45 B0 Stl. CCCasL bs 41, LLC o« o L osen s '¥3 ucuth 4s ¥l CWM CCC&BIL W Wai 454U CCC 8t L spild 45 '40 Ciev & Man Val 58 '35 Ciev & rits 4'as 'ei 107 Ciear & Man 1083 Ciev 8o Liue 428 61 104 Ciev & Mar 4las 10z Ciev Un_ier 5:.8 104 Ciev & Pils 4125°A " Ciev 1 lesm 08« ar Bum Ci 48 A Ciev Un_Ter 4'as Ciev & Pitts 3'2 C Luion OL,_bs Col F & I b: Cpl Inaus 5 Bl &85 180 atis Col So 4'as BUA. Comola G os Combia G Commpia G s "vi Col Hock V _4s '4 Columous & Tol 45 Columous RP 525 Coiumbus RP 4138 '07 comi Inv Tr 5} Conn R & L Con Coai bs "30 - Con Coal 3s '50 ct. Con Gas NY 5'zs "4 Consum Gs Chi 55 Consum Pow 55 Container 5s 4 Crown Cork 6s 47 Crown Will 8s '51. Crown Zell 6s '40. Cuba No Ry 3'as Cuba R R 65 ' Cuba Cane Pr s Cumberld T&T 5s': Uunuuuggcgggg RS 552 € & Mack ist 4s T Tun 4'as '61.. Mack 2nd 4s '95 Dodge Bros tis ‘40 Donner Stl rf Duluth & T R Dul Miss & Nor Duluth 85 & A Duaue L /78 Duague Lt 425 Lz Eas' Cub Sug inn 4s 48,0 1003 ETen V& Gon 3836 1omia E Teu Lien 5s Tl Bklvn 4s Elg _Jol & E 3 El Paso & § Erie Erie rf 38 * Edle ot in 43 9 Erie gen lien 18 Ene CH h HEH En: Gene'al s Etie Pa 45 ‘31 Erie & Jer 65 a1y 0% 115% 1114. 110'a 105'a Fl V6%y » via N2 1 1zt lm sid 1U54a 103 Conn K&L 428 "ol 1000 T0m5s 10142 Con Gas NY 5 '57.. 106 Con Gas NY 4'as 10383 Conn Pass 45 ‘4 DRIE 1057 100 1002 100%a Container Cor 8 '46. 100 Bila 903 o 10875 1012 10 1 Ri) o1 R Eron-Gi o A o 121565000 /000 1000 000 R09.000 4.000 1.000 348,000 000 Tom.000 20.000 000 155,000 13000 15000 R4.000 000 0100 g 000 5000 140.000 00 000 000 i 000 4000 0000 1,306,000 14.000 2000 287000 5.005.000 40,000 412,000 145 000 2 608,000 8101000 18000 787 000 23472 000 >3 000 000 000 000 214 000 10X 000 K000 6.010.000 213000 o000 5,000 26,000 33000 000 000 T8R 00 460,000 28000 V000 a0 000 00 000 2,000 K000 Loa 000 K44 000 101000 5SS Leh Val H Term Leh Val Term 5s '41.. Lex & E 5s '65 Liggett & M 7s '44 Ligzett & M 55 'S Little Miami 4s ‘62 Loew's Inc fs '41 Long Dock 65 '35 Long Isl deb 5s Long Isl gen 4s "8, Tong Isl Tie a8 49’ TLong Isl unif 4s 49.7" Lorillard Co 7s '44... Lorillard Co 58 '51.. Louisia & Ark 58 'fi!l - Lou Gas & El 'h 152 Lou Jeff Bdge Lou & N 5'as .n Lou & N 5s 2003 Lou & Ngld 5s Lou & N gld 5s "41... Lou & N 4'as . Louis & N 45 '40.. ... L & N Mont 4'as '45. . Lou & NSoJt M 4s '52 AItFL&NPad&M 45 '46 L & N 3s '80 St L. . Manat Sug Manat Sug Man Sug 728 '#" mdst Manat Sug 7135 '42 sta M Su 7las '42 md ct st Man Sug Manila El RR Man RR 8o L 4s ' Man So Lines 4s " Marion StShov 6s '47. Market St R: 40., M'Crory 51as '41 filed. McKes & Rob 515 '30. Mead Corp 6 "45 &.° Met Ed 4125 Mex Int'l RR 45 '7 MetWSideEChi 4 Mex Int RR 45 Mich Cen 3'2s Mich Cen 3'a Mich Cen 41> Mich Cen 45 40 Midvale Sti 55 46" Mid RR N J 85 '40° Mil&Nor con 47,5 M&Nor 1st 4 MIEIRY&L 55 MIIEIRY&L . Mi! State L 135 41" MilSparts ANW 45 47" M&St L Con 55 "34. .. M&SLL rfg 58 HMA&STL rfg. Bs ‘62 M & StL4s 40 MSP&SS Marie 5s MSP&SS Marie 65 MSPASSMar 5128 MSP&SSMar A'7s MSP&SSM con 4s Miss Cen Vogul 5 Mohawk & Mont Cen 5t ‘Montieal Tr ? Mont' T B Montreal Tr 5 Mont Tr 4's '5: Morie & Co “45 20 B aDDEO 2 RS MBS DR e N SR S 0= S DDPE S tHHE 4 190 418,000 2,848,000 514,000 1,207,000 117.000 70 86,000 61,000 68,000 98,000 5! )1 1 6,000 5,898,000 759,000 3,691,000 5.1357.000 FR08,000 B R76.000 504.000 1,145,000 4.535.000 i ).000 2000 4.000 )00 00 000 )00 000 )00 )00 1 1,59, 000 4.000 536,000 1,391,000 5000 709,000 186000 1,134 000 4435000 N7.000 5000 3000 3000 4,000 1000 357. ”'n X 111! 108% 1u Penn Dix 8s ‘4 g xfl k Penn O & D“/ll 'C ln"‘r' 101% 1"‘” Penn O & D 4138 71 ., 10415 85 1031 PennP&Lt 448 'Ql 9"": 9 Rz Penn CD 3”! Ay 's Penn Cc :l Penn Co ‘3 B . Penn Co 3%s C '12.. Penn RR 6las .o Penn Co Penn RR gen Penn RR Bs ‘64 Beh BR 15 38 Pen RR 45 ‘48 sia Peo Gl & C Chi 6s '41 Peo Gl & O Chi bs 47 Peoria & Peoria & 1054 1003 1073 927 633 K3 108% 1013 109 Ve 1041 Phil R C&1 » Phil Read C&I 58 '73 Philippine Ry 4s ‘37 Philip Pet 5%s ‘39 . Eilawiry 01 108 5 > POV 104 Y PCcC 94 . 1 ‘,‘ LS wpmnmn< agale ,..-Errrr-r: . i U 1, » ! 0% 11013 10155 110%2 s Srooguatt —— el 56 Gl D4Ye 100 101" 110, 6 oz 35 o Y25 - 4860 ud Ty betritriet) P dva 50 10005 100t 108 107 % 03 5Vas o 10333 Eure Gil 515 30 87" 100 Purity Bak 5s '45. 3 TY 89% Raols Keith oz 41 RKnlh tis '41 tl pt pd 'H K Readg 4'as "7 B. ... 8i'a 106% Rdg Jer Cen 4s '51. B2 URYe Rem ‘Arms 6s '37 A 963 101 Rem Rand 5%ss ‘4 36 Rep Ir & 8tl 52 '53 4 Reo Ir & Stl 55 '40. . 5 Revere Cop & B 48 Richfiela Ol ts '44., Ricn Oil 65 '44 A ctf., Rich & Mockl 45 '45.. Ricn lerm 5s * . Rio Gr Junc 5s "9 Rio Gr West 15t 45 "30 Rio Gr Sou 45 '40. ... Rio Gr W col 4s '40., 67 Roch G & E 5% '48.. 110 Roch G LE&:I».E St J & G Islds 4 s 86 8t Jos Ld 5'zs ‘41 1053 110t 0RNLDDDBERR ) hfipl‘rhrEEE;Fr‘EEr‘ ;;mm%ns. YR o s 2 B bt BIEaEDu 45 48 CLPC Cable 5s ' StBC Cable Si P M&M 5s StPM&M&EGAT4 StPM&M4sMont . BOLatPMEMPs 0 1 100 100i¢ StPM&M Pac_4s '40 . X% 8 9R1L StPM&MPac 4s 40 St P Un Dep 53 72 SA&A Pass 4s BanAntPubSve SantaFeP&P 5t Schulco 6'2s Schulco 8135 '45 sta’ | Schulco Aizs 46 B. .. Schulcoias 46 B sta. F3r ] bt 4] +18% s BTACSLG DR TS S + A g SRS - 1zaoree b P P e Pty TESSFES Pt bbb 3_+r++++!++++++ FINANCIAL PRICE RISES SEEN e | N WHEAT, RUBBER Character of '35 Busmess to Be Determined by Commodity Levels. BY FREEMAN EMERY MARSTON. (Cambridge Associates Staff.) ‘To & very great extent the business year 1935 will be determined by the course of commodity prices during the twelvemonth. Of course, this statement is largely a iruism, but it is so important that this be recog- nized that we venture to repeat it once more. ‘There are two ways in which com- modity prices may rise during 1935. One 'is through a general rise in the price level through monetary or other causes. The other is through world scarcity. In the latter individual commodities must be considered in- dependently. a general rise in the world price structure first. It is definitely estab- |lished that, with most of the world off gold, the price trend has been | upward for about a year and a half some. extent this has been due to crop limitation as practiced in various various governments upon their na- tionals. To a large extent, however, it is due to the general inflationary | character of the monetry prices of , most governments, notably our own and that of Great Britain. At the lessening of the effects of these poli- cies, and, indeed, an indicated at- countries not on gold to limit their effects. In other words, the delib- erately inflationary policy of the non-gold countries is being arrested. Inflation Possibility. When we turn to the gold bloc of further world-wide inflation. The chance of any of them, but most prominently France and Italy, to stay on the present ratios for another 12 months is naturally dubious. That this would be immediately infla- tionary, ecpecially upon American do- it not for the fact that Great Britain, and very likely the United States, would, in all probability, devalue themselves to some extent. This would mean, naturally, higher prices for virtually all commodities. Thus we have the possibility of a deseration of the gold standard by the gold bloc as a very real possibility. Indeed, the likelihood that such an event might at any time take place is itself sufficient to warrant numer- ous rallies from time to time. Now to consider the possible en- hancement of prices on a gold basis. It is probable that crop reduction plans will be in the ascendant in most countries, but this will be to a large extent offset by a “flood the market” policy on the part of a recalcitrant few. Thus we can look for no gen- eral rising trend in the world price level in terms of gold. To consider individual commodi- ties. Four important commodities have made notable advances during the year. In the cases of cotton and rubber, the extent of the rise has not been publicized so extensively, due to the fact that the price in Let us take up the probability of | to two years in most countries. To | known last year. Due to the fact that costs of production of this commodity are on the whole rising, & number of producers will be forced out, as they have been in the last few years. As a result, higher prices may obtain over the long term, but there is no reason to anticipate any condition which would cause an abrupt price climb. On the other hand, no im- portant decline should be seen. Cotton Faces Worst Threat. Cotton is now confronted with the worst threat in its history—the de- struction of its market abroad through manufacture of synthetic substitutes. Just how serious this threat is should be apparent in 1935. Domestically, the acceptance of the Bankhead act, plus the Government loan policy, should preclude any important lower- ing in price level. In the case of copper, the situation can be summed up ‘n one sentence—it depends on the revival of construction end heavy industry generally. This re- mark, while exceedingly obvious, never- theless must be made, because it is 50 patently true. Imposition of higher tariffs should protect the domestic pro- ducer, and thus the price level in this country, against lower foreign com- petition, as it is very likely that fur- ther boosts over present rates will be enacted if they do not prove sufficient to exclude this type of underselling. On the whole, then, the outlook is for no important declines from present levels, with chances better than even of advances during the year in certain commodity situations, which must be appraised on their merits as various world developments eventuate during the year. countries and to world marketing | methods, or restrictions imposed by ' t time t | present time there appears to be 3; GRAIN tempt on the part of most of the | mestic prices, would be unlikely were | DIRECTORY COMMODITY BROKERS C Bome N, X Couen Semmangy TR Members Chl:n[n Board of Trade Harriman & NA. Laidlaw & CD . DL %265 Westheimer & Co . NA 5500 e o o RUBBER—HIDES METALS--SILK Members Commodity Exchange. Ine. | 45> i 253 Westheimer & Co. NA 5500 countries we find the real possibility | Massachusetts Investors Trust Prospectus on Request William W. Mackall, Jr. Intestment Securities 218 Woodward Bldg. District 8431 | Thrift Is the Road to Success 5% sine . s Home Loan & Savings Ass'n 1505 K St. N.W. Under Superziston U. §. Treatury Dept. First Mortgal Loans on Property ‘ D. C rby Md. and Va. ——LOAN | 6% 6000 Erie & Pltts 4108 6 3 Fo SHh 00 Scigte VAN E $o 80t cents is low as compared with corn | Atl Refin o000 Mutial On Ta1 5 41 3'»; 000 646.000 4.628,000 4.108.000 000 1000 Tesms b u‘_'. 098,000 80000 s Austin & N W WS < 2000 D! vt 4’:! 60 'B1 ng & Aroo Crk. § Brech Creek 55 Beech Creek Beech Creek Bell TPa 5s Bell TPa s '60 Bene Ind L fis '4 Bergen Co Gas 5 Boston & Me s Bost & Me 4%:s JJ '61 Boston & Me Bos & NY AirL 4s ' Bot Con Mills Bot Con M a5 Bkiyn Ed 55 ' Bklyn M Tran Bkl Q&S cn 55 '41 sla 56.000 000 000 07,000 129000 520000 100 Erie & Pitts Fed 7 g ; g e £2 Gal H Gannett 4 Ft St Un Den W18 41l . Gen Gen Bak Gen Gen Gen Gen CGien Gen - Gen Tha Ea fis 40 ot Ga & Ala con 55 45 Ga Car & Nor ts 14 Ga Midiand s 38, Goodrich A'2¢ 47 Goodrich fs '4 Goody~ T & R 55 Goth. 81k Ho 6s 1h. Gould Ccun as “40. vr Rap & Ind 435 '41 * Tk Ry Can #s 6. 1 &F T Ry Can < "0 0000 Namm & Son fs 43 . 410000 Nagh Ch & St L 4s 135,000 Nash Flo & S! 5 849000 Nassau El 000 Natl Acme Nat_Dairy 5las Nt Ry Mx 4'las Nat Ry Mex 45 Nt RRMex 4125 Nat RRMex 4s 1000 Natl Steel 5s '3 000 Neveatuck R R 45 ' 4 o0 Newark Gas 55 000 New Eng T & T L GO0 T&T 4'as hl B N Eng R R 45 '45., NEng RR 55 '45.. . Rewpitin Be 412% 43 1700 N O Gt Nor 5s 'S4 13000 New Jer Jn ct ds ‘86 100 A 000 e 000 N O Tex & M NO ;zx &M 8.089.000 .001.000 156.000 288,000 00000 9.000 Seab A L con s '45 Sea A L 65 '45 ct Sea AL ad) 5s '40 Sea AL s 50 Bea A L 50" et Sea A L 4s '50 st Sea A L'4s '50 ct Bea A L rigds '59. S ALTRY 359 ot Sa A e SeaAliFla_os Shar 8t Hoop 5 Shell Pipe L 58 Shell Un_5s SierrakSFPw 55 |10 Silestan Am s " 8nc C Oil col Sin C Ol 615 Skelly Oil 5'as So Bell T&T 5s So Col Pow 65 Soud! s SoukNor Ala Bs ' Sou Pac Cal 5s Sou Pac 4'as Scu Pac 4!5s ‘K1, Sou _Pac 4'as So Pac rfg s Sou_Pac rfg 45 '3 So Pac col tr 4s So Pac Coast 4s So Pac 41.s Ore So Pac SFTer 4s ‘50 Sou Ry 6las '5 South Ry gen 6 J.:m’- 63 11 SZeoa b oo 13 5 South Ry gen 4s '56 ) 60 So Ry Mem 55 16 R0% 89 8o Ry 4s M&O 6113 Se Ry 45 St L K13g and wheat. However, percentagewise the gain was greater, and what is more important, the gain was even greater in proportion to the total historic range of cotton than in the case of wheat or corn. ‘Wheat, Rubber to Gain. saw unfavorable advices from the Ar- gentine coincide with announcements of a plan in France whereby most of the surplus in that country will in all probability fail to exert a sericus depresive influence on the world mar- ket. It is vistually certain that another year such as we have just witnessed would cause world prices to put on & genuine soaring per- formance. If a proportionate reduc- tion in the world surplus were ac- complished, in other words, the world Considering them individually, the most likely gain would seem to be | in wheat and rubber. To consider the | breadstuff first, the close of the year | ]| No Recewals No Commissions | $10.00 Per Month Per $1000.00 COLUMBIA PERmMAnNeENT BUILDING ASSOCIATIO 733 12th St. N.W. NA. 0353 | MONEY AVAILABLE For 1st Trust Loans Improved D. C. Properi | Several Chain Store Properties | Showing Excellent Returns Acreage and Lots in Path of Developme LEROY _GADDIS. Jr. 15th St. N.W. atl 1237 Deskts WE Steel Piles Tables SRV Steel Cabinete Chairs EXCHANGE Office Equlp: Office Furniture BAUM’S would be right for another burst ut} speculative activity, which would cer- | tainly equal and very likely exceed | 1416 Eye St. N.W. ¥jfigs! Gt Nor Rv 7¢ '3, ... Gt Nor Ry 5las '52 Gt Nor 5e Gt Nor 4'2s '76 D o AVl a1 ia GtNorlst 414s 61 s 235000 53 3.478°000 Gt Nor 1st 41us '61. 696,000 5 s, A.000 G Bay & W deb A, ... 70.000 Bruns & W 45 ' % 22000 GBav & W deh B .. 1,184,000 s '8l . g 426.000 GuIfMob&N 513 '50 572.000 % 3 y 000 Gulf M & N 5s '50. 8,113,000 4 000 Gulf & 8h Ts Ks '52. . 21,3 Bur CR & No, 2+ ¢ 1 L007.000 Gulf St Stl 312 FoTEEe L 0 7.000 Gulf & Ship Is e e s F 343! 18.000 Hackens Wat, 4% 604000 Bush T Bldg 55 '81. 6% ! L | L Tiar er Biks 81 By-Prod C 5'2s L. 14000 Havana E'ec 5 Toe 754000 Cal Gas & Bl 3 Hoeks Fa'its 1,846,000 Cal Pack 5s '40...... : a1000 Hs & Tex cen 5s 1.004.000 Cal Pet 5!. . 2 i .000 Hous B & Ter 5s '} Cal Pet g B : 1.553.000 Hous Oil Tex Alas "40 Camag Sug 3 428,000 Housatonic 5s 5 000 Hudson Cosl 5s A%A. 000 Huds Co Gas 55 "4 4 074000 Hud & Man rig 55 ‘37 gan ga; gv : g . 000 Man inc an Nat Ry Bell Tel 5s Can Nat Ry 4 : T 1.690.000 Can Nat Ry 41 § s “71.000 t Cairo Be 4s '50 100 Can Nat Ry 434 J Y 3 602,000 e 103% Can Nat bs '6f 2 17.000 an Nat 5s '60 970,000 Can Nor 61 46 Can Nor 4‘;;4; Bklyn Un El 1! Bkl Q&SIst cnbs': BKiyn Un Gas 6 Bkivn Un Gas 5% Bklyn U Gas 5s 8W Bel Tel 55 Spokane Int 5s ' St. Oil N J. bs '48 SL'Oll NY 3358 '51. birs 160 Stat Is Ry 4128 43 6l2 9612 9613 Stevens Hot 85 287y 1 16 Studebaker 6s . % 483 305000 Studebaker ge 67 34 43% 6.000 Sunb & Lewis 4s '36 101 100 101 148,000 Syracuse Lt 5s '51... 115'3 103'a 115% —_— 456.000 Teun Cen 6s '47 69% 48 58 #6000 T CI&RRB5s 51... 114 104 113'3 Ten Cop & Ch 6: 4 5513 90 3,363,000 Ten El Pow 6s g 913 159000 TRRASIL 35 44 101% 110 597,000 T RR A St L 425 '30. 1083 100% 108 TRRAStL4s 53,.. 1042 104 Texark Ft Sm 5'zs ‘50 Tex Co.0 5s cvt '44. Tex & New Orl 3g 4. 5 85la Tug 1st 38 2000. 116~ 81% 116 Tex Pac 5s . BNy 64 BNYy Tex & Pac 5579 C 8 65 Tex & Pac 55 ;n e & i er 5'as Third Ave 55 tm Third Ave adj 5s '60.. 3 B 2 TobbAle S50 S0, i, 10308 25 '3 10 007 1 Tol&Oh Cen 1st 9avd 100 * 267.000 h 3s 80, 1001 169:000 M LY ioT e NYC La Sh i NYG M) Cen 3133 ‘98 NY Chi&SIL 6s '35.. NY Ch&StL_5':s “"AE that of last Summer. In the case of rubber, production is now better controlled than was the case a few years ago, when the com- modity began its first slips toward the appalling lows which it ultimately touched. For the longer term outlook e tendency toward integration of | e consuming phase of the industry | by means of growing rubber on the| part of large users—such as the Fire- stone Liberia project and the Brazil “Fordlandia” effort—should tend to stabilize the price. Corn experienced a serious shortage | this year, but there is no great reason ' to anticipate such a drought as was 1o BER et Comperent Rush Servich g i o R wR3aRD 22222227 g e, 5 48000 7.000 000 .000 RENTeEY 2 & o o, o o 3 EYNON Printing C. T < = 2] P A L PR ""‘-<-<<-<<.<<;-< =2 2 »<»<-<-<§E:zn +t ] 4ttt Announcement Andrew T Hoffman New York P S Will Start Advertising cen rfg Gent 15t Eent Sofia Ats "s1 TR Gen rie 45 '55... AR b b oL 13!(1! Gent Ext 1'as 51. |Am18 8w 108% z T 2000 2.4RA0 Cen col tr 10 g Carolina cem 4s u o oo an 2 000 Cen Litch 2 '3 s 78 L i0% 32.000 12000 Tl Cen Louis 4 4 L CEn R TnaAnC 4 A1 A i Sen S 2 i 000 Gen Dist Tel b5 . ; } Con . 85+ B | noisooo T A ; 3 i e Gen Ga Chat 4 TiSiee 405 Cen of Ga con “‘ Ind Rloom & W 4s 40! Cen Ga lst 55 14.|_||m\ Ind Il & Towa 4s Wid Ga & A B 47 180,000 Ind Nat Ges bs '3 Gen Hud Gos 5 £9.000 Ind Un Ry Cen Tl E & G 5 %Rfl lv?r‘xl };; s 'G5 B Cen New Fne 4s '61. Inland St 4728 78 Al Cen Pac 5s 'A0. ... g Cen Pac 55 '00. . Inland 8t 415¢ '81 B.. Sen Pac 18t 4< 40 000 Interb R Tr 7s '32 o RanuShE o .000 Interb R Tr L R 46K000 Interb R Tr Gs ' CenRRN 18 A7, 0. Interb R Tr 6s Cen Steel &s '41 . Certain-td 5las '48. Char & Sav 75 Chesap Corp 5s € & Onio con 55 R EEE P x s, A 1120 o B g TR T 00, Trent G & E bs, '4 Traax T Som Uras Trumbull Stl 65 '40. I+ 1+l P 87 | e9is 83%a 101% Un El Lt & P 55 '57 1073 96%; 107 Un EL Lt & P 5158 ‘54 1070 102 104Y Un El Chic_5s 4 * 30y, 130 Union Oil Cal 65 "43:0 11734 107} Un Oil Cal 55 '45 ww. 104% gn Bac 1st 55 2008, 118 n Pac 4las 05 Un Eac m’4 Un Pac 4s Un Pac 1fg 4s 2 Untt Bis Am 65 420 107ta 109 Unit Dfifi 0le 60 Un' NIRR&Can is ‘44 1004 104% 19 140,000 Un Rys 8t L 4s 0 0.409.000 U'S Rub Bs ‘47 88 Uniy P & R 65 36 1 Utah Lt&Trac 5s 'id. Utab P & L 55 44, . Uti El Lt & Pw 5s '5 Utica G& E 6 Utl P & L 5 Util P & L 5s ' VAndala R R A 55 102 Vanadium_ 58 '$1 80 Vandalia RR 45 B 'a‘i 101’ ‘-5"‘;,?'5 s”"-: d'3 1 ¥ ‘ertient ug_ 4 33 RS e 5 i c‘ 103 1ogis Pwr 1si U 1 Yercras 4lasid o el e % w5 3T 1Tt 107 1103 Vi B § o0t T 52, d By 30 10T 9 108 Virginian Ry 8 "6 S 8o iz Virginian Ry 412 105% Va&8W 1st 5s 2003. . '5' 95 & 8W con 55 '58 8 67 8l% Wabash If 5%s '75. Vabeah B85 701 Wabash 15t 6 W-bnlh 24 g Wabash Wabasn 83 80°D Wabash &5 B 76 ct ‘Wabash 5s '7B MWabash 4l2s C Wabash 4 00! <3 ol 227 5 Eansa 22323 2222222, o3 2357 - - o, azmgv'-‘!':'< 3ano® 232, o S"“ 2350 ES RO 3 8 en 5540 A EEPEEES £ e PR, £ 12) 222222227 ) 3080 taen 3, ZEodEEaanmn Ha 2 ) ey e 4!“ 000 3.676,000 296,000 1.916.000 1agi 36R8.000 Norf & Sou 55 000 Norf Sou 5s '61 cl( s 'l . N:i( & W dir 4s 144 . %3 w2, Cleld ey 3 3.4, e A [ 44Hui1| H 4 | bbb b 22 B 3 Washington D. C Year of Our Lord 1935 - o 252 Interh R Tr rfg 55 '66 L3 Interlake Iron 55 '31. Y Int Agric 5s '4% sta. . 99 Int Cement 5s "48. .. Int Gt Nor adj 6s '52 Int Gt Nor 1st s '52 Int Gt Nor s '56 B.. Int Gt Nor 5s 56 C. Int Hydro El 6s "44... Int Mer Mar s '4i.. Int Paper 65 '55..... Int Paper bs 47,5 . Int RysC A 6147, Int RYs G Am o b 49 450D ket 231 ks % FEESSR Nor Am Ed 5s | Nor Cen 458 NOhio T &L 6s gum;,omg b8, l or Pac Nor Ohfo_5s s cd Nor Pac bs 2047 C Nor Pac 85 2047 D .. Nor Pac 41es 2047. Nor Pac 45’ 91 bttt & ¢ PROPERTY MANAGEMENT Crlll Val s ‘(0 C&O 1st 45 'S0 R&A . CxO Grbrier 4= °40 C&G 2nd 45 '30 R&A C&O Polts Cr 45 46, , Chi & Alton 3s "49 C&0 Wrm Spr MA'41 BRI S RO DD & RS e AR FaSF BE +, bt = p wt Son U UL ot ke | FOR a very nominal fee all the worrying details con. nected with the management of your apartment house properties can be transferred to our Property Management Department. B. F. SAUL CO. REAL ESTATE 925 15th St. N.W. Natl. 2100 o 333 4158 'H o Ogden & L chu 4s '4! Oh Pub Sve 7128 '46 ©Ohis Pub Sve i 47 Ohio Riv 1st 5s Ohio Riv &m Bs ':7 Old Ben Coal tis Ont Pw N Fall 548 Ontario Tran 5s '45. . Qre R R & Nav 45 '46 8i¢ Bh Liir et B i Or-Wash RR&N 45 61 Otis Stee1 68 4112, Pacif Cst 1st 55 '4 R 8¢ Bib Sed B2 -8 'ac Mo 1t zl 3 0 e - 3 & = et 3= S S S DDABIITIITB B> DR oD B —— @ 5 Invest Eq 55 '47 A.. Invest Eq 55 '48 B ww 08 Invest Eq 55 48 B xw 08, Towa Cen rfg 45 '51. 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