Evening Star Newspaper, January 2, 1935, Page 11

LATE IN' SESSION Metals-and Some Specialty issues Turn Easy. Trading Slow. BY G. A. PHILLIPS, Assoctated Press Financial Writer. NEW YORK, January 2.—The curb mtrket retained a fairly steady tone into the final hour today, although metals and some of the specialties turned a trifie easy in late dealings; and utilities lost some of their gains | renewed selling and profit taking. Trading was quiet. Montgomery Ward “A.” Pittsburgh Plate Glass and Sherwin Williams | each improved a point or more and fractional advances occurred in Hiram | Walkef American Cyanamid “B.” Creole Petroleum, and American Gas. Gulf Oil gained around 2'>. Among issues selling lower were Gities Service Distillers Corp. Seagrams Newmont Mining, New York Honduras & Rosario and Swift & Co. Pepperell lost 7 preferred yielded 5! AUTO SALES INCREASE MORE THAN 45 PER CENT By the Assoctatéd Press. NEW YORK, January 2.—Alfred Reeves, vice president of the Automo- bile Manufacturers’ Association, re- ported for 1934 an increase over 1933 | of 45 per cent in automobile sales, on the basis of available statistics. “In * the lxght of these figures,” Reeves said, “it is not difficult to un- derstand the optimism with which | leaders of the motor industry are completing the plans for their 1935 sales campaigns. Clearly, continued gains ®-* ¢ are expeu,ed during the forthcoming year.” under points and Childs 2 on small sales. DOMESTIC BONDS, I His W n Low Noon | Albminam Co Alumium_Ltd El_Po Received by Private Wire Direct to The Evening 8 Stocl Dlvldend Rl"‘ Adfl 00. High Low. $: Adams Millis 1stof (). Ainsworth (K1%). Air Investors Inc. Allfed Mills Inc.. 258104 104 104 219 19 THE EVENING STAR, WASHINGTON, D. C., WEDNESDAY, JANUARY 2, 1935. CURBTONESTEADY/[ N. Y. CURB MARKET Stock and Bu.se Dividend Rate. Add 00 High. Premier Goid 12¢ 7 1% Prod Royalty 2%¢ IS Pub Sve Ind pr pf % i% | Pure Ofl pf Alum'n Co of Am. 300s 50 Am City PAL (A) (3)..... Am Cities Pwr & Lt (B) (k10c). Am Cynamid (B) (k25e) .. Am Equities k10c. Am Founders. ... Am Fouanders 1st pf (D). Am Gas&EI1(11.20) Am Lt & Trac 1.20 Am Superpower Am Superpwr pf Ark Nat Gas Ark Nat Gas Armstrong C k25 | Art Met W (145¢). 1 Asso Gas & Elec. . | Asso Gas&FEl (A). | Atl Coast Fisher.. Atlas COrp. ...... Atlas Corp war... Auto Vot Mch 50c. Babcock& Wil 40e. Bliss Co (EW)... Blue Ridge Corp.. Bridgeport Mach. Brown Co pf. Buft N&EPpf 1. Atk Nat Gas cu E. i 508 31% 6 1% 32 16% 1 1% 2 & 2008 14% 6 19% 2 9 AmPotash&Chm.. 50s 16% 22 1% Bunker Hill & Sul 325; 32% Butler Bros...... Cable Radio vte. . Cables& Wire (A). Cables&Wire(B).. Cables & Wire pf (k9 910¢).. Canadian Marconl. Catlin Corp'n | Cent States Blec. . Chi R& M k87%¢. Chiids Co pf Citles Servi Citles Servi Cleveland Tractor Colum O & G vte. . Comwlith&So war. Cons Gas of Balto (3.60).. Cooper Bessemer. Cord Corp (k25e). 114 | Croft Brewing.... Am Seating s Aso El Ind 4': Asso G&E Asso G&E 2 N 5 hr’.lm 14 44 L1114 6% 60 | Crown Cent Petm { Crn Ck Int A m75¢ ] Cusi-Mexicana M. —_— Davenp't Hos(2).. Distillers Crp-Sea. Dow Chemical (2) Duval Tex Sulph.. ! Eastn Sta PWr... | East'n States I Pwr (B) : | Edison Bros Biec Bond&Sha | Elec BA&S pf(5).. Elec BA&S pf (6). | Equity Corp'n. ... % | European Elec Internati Sait Intersta Pw s Inter 3| Gulr Ol of Pa Ltd debrts... Evans Wall Lead.. Ex-Cell-O A&Tool | Fairchild Aviat'n. Falstaff Brewery. Fanny F C t31%e¢. Fidelio Brewery. Fisk Rub pf(6) Flintkote Co (A).. Ford Motor Can (A) (K13%). Ford Mot Can (B) (k1%) | Fora Motor Ltd. Foundation(For). Froedtert Gr & M | Gen Alloys. . Gen Invest Corp. 4| Gen PubSvc pf... 40s 2 Geopgla Pwr $6 pf 4| Glen AldenC t1% Goldfield Consol . . Gorham vtc ex k% Grand Rapids Vi h (50¢) . Gray Great Atl & Pac Greyhound «Del). Groc Store pr vte. Hazeltine (k25 ) Hecla Min (40c’ Helena Ruben. ... | Heyden Ch (11.35) | Hollinger G 11.35. Holophane Co.... Horn&Hrdt pf(7). Hudson Bay M&S Humble Oil (1)... | Hyzrade Food. Hygrade Syl (2 11 Pwr&Lt.$6 of .. Imp Oil Lta coupon (180¢) .. Imp Tob Gt Brit & 1(k1.03 9-10¢) Ind Pipe L(135¢). insurance Co of North Am (2).. Intl Hydro Elec System cv of. . Int Mining (k15¢) intl Mining war int Petrolm (12). 4 | Intl Util (B).. &3 ]nn', 1001, 190% 11, 901 v F 3R Yadkn £ %008 FOREIGN Badrn Con M M M " FLEE 58 K '35 110 1110 nw-—mth warsants. xw—Without ants. _n—New. wi—When issued. {2p) —stamped._$Negotiability txwalrea by maturity. {Companies reported in re- eeivership. . o Jewi:lry Plants To Be Expanded Ag Volumes Rise| iy 8y the Assoctated Press. ATTLEBORO, Mass.,, January 2.— With récords of the finest holiday N!'L‘elnl “*)“flh’ pusiness since the depression, jewelry manufacturers here announced plans for wide expansion in 1935. The Jeweled Cross Co. yesterday moved to the former electric chain factory to acquire 20,000 additional square feet of factory space. The American Metal Crafts Co. will sxpand and move to another build- Ing to occupy an entire floor The Fillkewick Co. will take an ad- ditional 30,000 square feet and the Baer & Wilde Co. is to add 10,000 square feet. Well's Manufacturing Co. expects to triple its force and take additional space. Harold E. Swcet, president of the Simmons ‘Chain Co., announced in- ability to keep up with the orders. —_— Jersc Central Pwr &Ltpf 5% . Jonas & Nau cv pf Kirby Pet (k10¢).. Koppers Gas & Cokepf (6).. . Lake Sh M (13%3) Libby McNeill&L. Lone Star Gas. ... Long Island Lt... Long Island Lt Dt (A) «T).. Marion Steam Sh, Massey-Harris. Mem Nat G(k10c). Merritt Chap & S. Mohawk Hudson Molybdenum Cp.. Montreal HL&P (1%)... Mount Prod (60¢). — Mat Bella H Nat Investors. Nat Rubber Mach. Nat Service....... Nat Transit (70c) Nelson (H) (k25¢) Celanese 1st of (1) 2508104% Celluloid 1st pf... 508 7 Comwlth Ed (4)... Cons Alrcraft..... | Cooper Bess pf A.. | PayS(1) 100s non-voting (t7) 70s 135 135 Horn&Hardt 1.60. 1508 23 1258 .e. 108 263, | Ludlow Mfg (6).. 108 | Pwr 1st pf (7).. 508 33 Mont W A m10%.. 30s127 1% 24 17 174 174 5% Slp 1031 10313 76 _ 16 ‘s 15 15 25% 2T% M1 11% 11% 5 6 19 kel AT% 474 w 10 1% 2 17 9 3 5 1 26 11 10% 52% 5l 52% 5% 19% 4 q 9 13% 6% 1% # 8% 16 17% 90 57 1 1 bt it 11" | East'n G&F p(6).2008 2 cv pf (1.20). 1508 1 2 E 28 53 231 758 3 10 1 17% % 9% 9% 135 6 237 ’3' 4 12 (9% 23': 57! 59‘: 8 b\- vg\ 19% 2 22t 23 1031 103% 12% 12% 4T%h 4T 2% 3 26 10810313 10 12% 4 48w 8 3 5 26 13% 16% 34% 3% b4 T 13% 5% u 4 2 13 1 “ Y% s 2% 4 uh 5% 49 39 % 33 7 8% 8% 127 127 1 31% 31% 31% 4 43 4y 4y Mount St T&T(8). 108106 106 106 New Bradford 20 12‘ N J Zinc (2). . Newmont M (! ). \ Y & Hon R 143% 100- 3 Y Pw&Lt pf(7). Niag Hudson Pwr Niag Hud P A war Niag Shrs(Mad) B. Niles-Bem-Pond. . 11466 117'/. 117!6 ll'l% !A 2 % 1 2% 712 !'/g 11% Novadel Agne(2).200s 22% e Ohio Br (B) k50c. 100s 19% s e Pacific Eastern. .. Pac Public Sve pf. pantepec Ofl 6 28 Parke Davis t1.50 300s ~1: Pennroad Corp 6 Pepperell Mfg (6) 320s !9‘5 Phoenix Secur. . .. Phoenix Secur pf. Plon’r GM Ltd 80c Pitney Bo P(20¢c). 1 30', B T 1% 2 5 Pitts Plate G 1.60.1400s 567 Pratt & Lamb (1). - ” 1 30 ul 31% | Rire Reynolds lnvlll Stix DG (2). Revo ovelt Field. . I:uut Ref v pr pf. ' Regis Paper... ~alt Creek P(80c). Seaboard Util. lected Ind Selected Indus alot ctfs (3%). 508 Seton Leather. Shattuck Den Min Shawinigan Wat & Pw(50¢). Shenandoah. . Shenandoah pf. Sherwin Will(3),.350s Smith (A 0) 2508 Sonotone Cor} S0 AmG&P(k30c). South Penn O 1 20. Southl'd Royt2ie. Spanish & Gen Spieg-M-S pf(6% ) 100- Stand Cap&s 12.80 258 Stand Ol Ky t1% . 6 Stand Oil (Ohio). 1508 Stand P&L pf 2.10 505 Starrett Corp..... Stein A&Co k25¢. . 26- Stetson (J B). 508 11% Stutz Motor. Z 2k Sunray Oil 6 1% Sunshine M 26 124 Swift & Co (t75¢). 18 194 Swift Inu (Z)..... 18 35% ———— Tampa Elec(2.24). 2 Technicolor. {nc. . Feck Hughes(40c) Texon O&L t75¢. . Tob Prod Ex(10c) Trans-Lux DLPS (200).. Trung Pork S 60¢. Tubize Chatil. 5 4 2 1 3 3 4 3 2 24% 130 4% 6% 2% Unit Gas Corp pf.. Unit G & E pf (7). Unit Lt&Pwr(A).. Unit Lt&Pwr pf.. Unit Profit Shar'g. Unit Shoe M 1414. US Elec Pwr ww. “ U S Foil (B)(60¢c). 13% U S & Internat’l Secur 1st pf ww 2008 48 208 5 1 14 % 258 70 2 1 Utah Apex. Utah Pwr & Ll yf (m16 2-3)......100s h‘.‘.h Utilities Pwr&Lt. £y Util P&L(B) cfs. . 1 Utility & indus pf. Venezuela Petrol. kd Waeo Atreraft, Walker (H). Wllker(H:v“l).. Wenden Coppe! W Va Coal&Cok: Westvaco C pf(7). Williams (RC) (1) Wilson Jon k50c. . Wright Har(160¢) 5Us 99 117 2 18 1 9% @ Yukon Gold. 1% Dividend rates in quartedly or nml-lnrfl?u'" ’.“d TPartly extra. JPlus 4% in stocl cash or stock 5% in stock. g Pl in° script lus 8%° 1 this" year—no reguiar fate: lated dividends paid thi 10% in stock. nPll? e ular rate. rCo MARKET AVERAGES COMPILED BY A. P. New Statistical Guide to Trend of Security Prices Provided, Starting Today. By the Associated Press. NEW YORK, January 2.—The Asso- ciated Press begins today a new statistical guide to the movement of | security prices. For weeks the statistical department of the Associated Press has been build- ing a special series of stock and bond averages especially designed to meet | 4 the requirements of the newspaper reader, and presents them for the first time today. In building these averages, the chief objective has been to make them as simple and as readily comprehensible as possible, while at the same time presenting an accurate measuring rod for the cay-to-day fluctuations of the stock and bond markets. GRAIN FUTURES TRADE BELOW NORMAL IN 1934 By the Associated Press. CHICAGO, January 2.—Aggregate trade in grain futures on the Chicago Board of Trade was below normal in 1934. Trading in all grains was lighter than in 1933, but it exceeded the to- tals for 1932 and 1931. Market authorities were unable to give definite reasons for the lighter business other than to point out that distinct apathy prevailed during many weeks. Some traders asserted general business conditions during much of 1934 and uncertainty as to govern- mental plans contributed to the hesi- tancy at times. Trade in future deliveries of all grains in 1934 totaled slightly over 12,000,000,000 bushels. The total last year was 15,596,523,000 bushels and in 1932 and 1931 it was 10,006,000,000 . |and 11,503,183,000, respectively, — U S. TREASURY NOTES. (Reported by Chas. D. Barney & Co.) Rate—Maturity, 28 Sept. s June 1%s June Market Averages Compiled by the Asociated Press. TITNLIO Bb T UEREERESLE it sis U355 12onIR 0213, 1 i 23.87 hl(flflb 161 RR lM 2R1 w 51.59 95.31 10 . Indust. 2" ‘Unch. o110 30, Fep L o NEW YEAR BRING | ENDISILUTNG) e i e Brokerage Changes ©"~ht Despite Very Le 12 Months. BY FRANK MacMILLEN, Associated Press Financial Writer. NEW YORK, January 2.—Contrary to the gloomy predictions of some Wall Street gossips, few brokerage houses have quit business in spite of one of S the leanest years in recent Stock Ex- change memory. The number of firm changes and dissolutions has been remarkably low at the turn of the year, in the opinion of those whose memory runs back over a considerable period in the finan- cial district. Yet security turnover, which is the criterion of the brokers’ ability to show a profit, was in many divisions at rec- ord lows for a decade. Total stock vol- ume was 325,410,847 shares for 1934, about a quarter of the 1929 levels and barely half that of 1933. Bond sales, it is true, helped to keep many brokerage concerns operating, { for in that department transactions were better than in any of the last 10 years and slightly above 1933. The total turnover in listed bonds was $3,- +| 734,707,000, about $359,000,000 better than the previous year. Most of the downtown firms have apparently decided to give the new year a chance to prove itself. They enter 1935, however, with forces cut to the limit in most cases and with all avoidable expense eliminated. Branch offices of member firms are down around the 1,100 mark, a loss of about a hundred during the year, and some 300 or more below the peak lev- els reached in late 1930. But in many cases these out-of-town outlets have been replaced by establishing cor- respondent relations with firms not members of the exchange. Such cor- % | respondent offices are now about 3,600, a slight gain this year and well above the 2,800 level of 1929. New York Cotton By the Assoclated Press. NEW YORK, January 2—Slight opening advances in cotton in re- sponse to relatively steady Liverpool cables were checked by realizing and hedging today and prices eased off a few points during the afternoon. March, after selling up to 12.75 early, worked off to 12.68, while July re- acted from 1287 to 12.81, but offer- ings were absorbed by trade buying on scale-down orders. The midafter- noon market was quiet and about steady, with prices net unchanged to 9 points lower. Janury was rela- tively easy, later months holding | within a point or two of Monday's LIVERPOOL, January 2 (#).—Cetton, 20.000 h:lev including 4.700 American. E fair demand. prices one point quotations in’ pence: °American strict good middiine. midd! striet middling. ry. ture: S aEY. 8.2 6.85; October. 6.74; December. GHINGHER ISSUES CALL TO MARYLAND BANKS By the Associated Press. BALTIMORE, January 2—Calls were issued today by State Bank Com- missioner John J. Ghingher for a statement of condition as of the last | day of the year by all State banks {and trust companies. Similar state- | ments by mutual savings banks will also be filed as required by law. SHORT-TERM SECURITIES. (Reported by Chas. D. HIHIEY L Allis-Ghalmers Cn N lfl A 1m|¥ ' 10 Gr. Bitvon B Him. 45 1030- 0. 1 Gen. Pet. Corp. 55 1940. . Gen. Pub. Service ’5':! U'JD Gotham Silk Hos. 65 1936 Grand Tr Canada ns 1936 . Great Northern Ry. 7s 1036 Hiiinoys Central 6333 1036, . v s} Michigan Central ‘45 1940., New nrk Central 6s l\! 35, . Y. Chi. & St. L. 4s 1937 Vanadium Cqm 58 1041 sh Rwy Co. 58 1030. « Warner Bros Gs 1039. ... U. S. TREASURY POSITION. by znz Associated Press. e po ver 30 "% 4. 3 ex- pnduu 8. s.nwmsmm balance. §2.- 13,100 1“1“%’" Teceipts for the R esipis for ihe fseal year (since July 1.847,:194.802.56; expenditures. $3, pio4 dncluding S 0:815. mergency expenditires) 19825 e 15.989.68; .078.2: desy ot Cexpenditure gold assets. $8.232 METAL HARKET YORK. January 2 NEW 2 (#).—Cop guiet; electrolytic spot and ruzuu "Blue Eagle. §.00. Tin. steady; spot ai arb; snd future, 5075, Iron. quiel. i, o Lead. dy. INL New York. 3. :IL East Zinc. dull; East St. Louis xgo and f 3 Alum(num 19.00a 22, 00. Anumollv wot 14.00. HONTBEAL L SILVER. MONTREAL. January 2 (P.—Silver fu- tures opened easier. _ January. 54.90b: March. 55.40b: May, 55.90b: July. 56.35b; tebe 57 10b; December, 57.60 b.s SUIRBVIN Pennsylvania Power & Light.pre- ferred share earnings, 12 months end- ed November 30, were $15.29 vs. $15.24. “OUR PLUMBER Avoid Intestinal Fatigue Many ;eofilo suffering from In- testinal Fatigue, commonly called Constipation, do not know what it is to feel good. One or two E-Z Tablets for a day or two are just what these people need. They have more “pep” and step livelier than in years. Dizziness, tired feeling, heldtchel. ‘when due to constipation, disappear. Surely makes a difference. See for your- self. You x t 60 little E-Z Tablets t for 25¢c. At ali good drug —Advertisement. Wholesale quex Records Abrupt sharp advance in the lnenl level ol wholesilé commodity prices in the week endgd December 29, according to the index of the Na- tional Fertilizer Association. The in- dex for the latest week was 76.3 com~ pared with 75.4 in the week preceding. The rise which occurred last week was not sufficient, however,“fo carry the index to the year's high which was 76.6 in the week of September 22, The index in the final week of 1933 was 68.4. (The three-year average 1926- 1928 equals 100.) Seven of the 14 groups of the index advanced last week while only one de- clined. The most substantial increase | M was in the grains, feeds and live stock group, with the index for this group | advancing to 82.0 from 77.0 in the pre- | ceding week. stock prices was due, to 2 large extent, | to the extremely cold weather which prevailed during the week and to the Christmas holiday, these factors tend- ing to limit shipments to market and resulting in a mark-up of prices. The | The increase in live | July Chicago Grain By the Associated Press. CHICAGO, January 3.—Material declines of grain markets today fol- lowed announcement Chairman Jones of the House Agricultural Committee | would introduce bills to increase Gov- ernment regulation of commodity ex- changes. * Lack of any aggressive support for grains was apparent, rather than un- |. usual pressure to sell. Trading in Sep- Wheat closed: nervous, Y der Monday's finish; May, 98'2a%; corn, %alY, down. May, 88%a¥%: oats, unchanged to ! lower, and pro- visions showing 15 to 25 cents drop [EAT— Open. High. Low. &D'Pnlh!r. Sl ’: CORN— CHANGES PUSHED BY WILSON & CO. ¢ ¥ B fommon Dividend Planned on Consummation of Recapitalization. By the Associated Press. CHICAGO, January 2.—Payment of a dividend on the common stock of Wilson & Co. wili be recomended to directors - immediately after- consum- mation of the company’s recapitaliza- tion plan, Thomas E. Wilson, chair- man, said yesterday in a letter to stockholders. The letter contained details of the proposed changes in the packing firm's capital structure which stock- holders will be asked to ratify at their annual meeting February 19. The amount of the dividend Wilson will other groups which advanced last week | ) were foods, fuel, including petroleum and its products, miscellaneous com- modities, fats and olls, chemicals and drugs, and fertilizer materials. The textiles group was the only one that | declined. The groups which showed | the largest net gain during the last year were grains, feeds and live stock, | and fats and oils. The only group| which declined was building materials. | SUGAR EXPORTS CLIMB. NEW YORK, January 2 (#).—Ex- ports of sugar from Cuba from Jan- uary 1 to December 29 to all destina- tions amounted to 2,317,157 long tons, raw sugar value, against 2,292,114 tons during the like period of 1933, accord- | }{Y ing to Lamborn & Co., sugar hrokers. To the United States there were shipped 1553758 tons against 1,371,-" 682 tons for the same period in 1933. ) BONDS TO BE REDEEMED. NEW YORK. January 2 () —In- tertype Corp. is notifying holders of | its 51, per cent debentures that there | have been drawn for redemption on | February 1 at 103 and accrued in-| terest $100,000 principal amount or the bonds | Prime Chltuo Cash Market. ‘Wheat, No. 2 red, 1.003%: No. 3 hard, 1.06%2; corn, old, No. 3 yellow, 94; new, No. 4 yellcw, 9012a91%%; No. 3 white, 1.00; oats, No. 3 white, 551,a56';: No. 4 white, 51; barley, 7581.22; no rye; soy beans, No. 2 vellow, 1.17 net track ccuntry station: | timothy seed, 16.50a17.65 cwt.; clover | seed, 15.50222.75 cwt. Liverpool Grain Prices. LIVERPOOL. January 2 (#).—Wheat fu- tures closed easy. Previous | . Close. March T Ry July 78% Exchange, 4.93'3 MONEY MARKET. NEW YORK. January * 7 —Call money | eady: | per cent all day. Time lozns .ueaa.\ % months. 3:-1 per cent. | 3. Bankers' G0 days.. commercial paper acceptances. unchaned. Rediscount rate. | New York Reserve Bank. 1'z per cent. | . RUBBER FUTURES. NEW YORK. January g —Crude rub; 326+ ber, futures opened stea Janyary, 1310b; 2 My Jul; termined at that time, he said. Briefly, the company said, the re- urge the directors to vote will be de- common stock.: The total amount of common stock to be initially outstand- ing will therefore be 2,001,163 shares. The present 7 per cent preferred will have accumulated dividends amounting to $26.25 per share as of February 1, 1935, Under the proposed plan the preferred stockholders will Teceive tor each share 14292 shares of the $6 preferred. The $6 preferred will be entitled to cumulative divi- dends from February 1 and will be callable at $100 per share and accrued unpaid dividends. ‘The long-term obligations of Wilson & Co., the letter said, including the first mortgage 6 per cent gold bonds. bonds of subsidiary companies and minority stock interests, have been reduced from & total of $29,323,615 on February 27, 1926, to $19,585,563 on Octeber 27, 1934. —. Cuban-American Sugar Co.—Deflcit, year endsd September 30, was $312,903 vs. deficit vs. deficlt $482225. P RADIANT organization plan contemplates a re- shares of 7 per cent $100 par value preferred stock into 324,783 shares of $6 no par value preferred stock and | the reclassification of 313,236 shares | of no par class “A” stock so that one share of class “A” becomes five shares | of ccmmon, the 434,983 shares of the present no par common to remain as' Final, printed at 6 p.m., 70c per month. will start immediately. classification of the present 227,248 | This is a special service that many the very latest and complete news of the oEARD ERACTTRE BI'I‘I.’IINOUS ‘COAL PER $850 TON (1) Rich in ing: (3) Economic J. Edw. 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