Evening Star Newspaper, January 3, 1935, Page 15

FINANCIAL. BONDS HESITANT AS VOLUME LAGS Most Traders Awaiting De- velopments in Congress. U. S. Issues Gain. BY BERNARD 5. O'HARA, Associated Press Financial Writer. NEW YORK, January 3.—Bondsyl moved in a narrow trading range to- day with transactions in small volume as most traders awaited developments from Washington incident to the bud- get speech and the convening of Con- gress. Rail liens, particularly the lesser rated issues, showed .fractional firm-| ness. Among bonds making gains up | 3 to a half point were Baltimore & Ohio 4125 at 563, Erie 55 at 72'2, Great Northern 4!2s at 767, New York Central 5s at 661> and St. Paul 5s. Utilities generally exhibited steadi- ness with a few high-grade items a ' little better, including Detroit Edison 435 and Kansas Gas 4':s. Most bonds in this division were about even. Few important changes were seen among the industrials, although Shell Union Oil 55, at 1021, ; Texas Corp. 5s, at 102, and United Drug 5s, at 90, l BONDS ON NEW YORK STOCK EXCHANG LI!!R‘I’V BONDS. High. Low. 2.55. 31%s1932-47.....10320 10319 10319 1stcv 4%s 32-47. 10318 10314 10314 4th 43,s 1933-38. 10323 10322 10323 #th 4% s 33-38 3d called.. 10128 10127 10127 TREASURY BONDS. 35104648, 1013 10027 10031 38 1951-55. 1012 10028 10031 3%4s1046-49.....1021 10129 1021 3148 1949-52 +. 10128 1011810124 i%s s, 10425 10420 10422 s 1044-46.....1032 103 103 3='.smo 143 Tune 104 21 10419 10421 3%s 1941-43 Mar. 104 20 10418 10418 33,5 1943-47 1044 104 104 10718 1077 1077 109 10828 10828 4%s-3%s4 1034 10231 103 41(s1947-52 .11323 11316 11316 FEDERAL FARM MORTGAGE BON 48 1944-54 31949 9923 9918 9922 3:551964 10115 10115 10115 HOME OWNERS LOAN BONDS. {285 2049, 9629 9624 9627 38 A 0927 9921 9923 451951.. 1012 10029 10029 FOREIGN BONDS. High. Low. Abitibl PlAPw 58°53. 39 Akershu o Antioquia 7s q A Antioquia 1st 78’57 Antwerp 68 ‘A8 Argentine bl =62 Argzentine s 57 A. Argentine 63°58 B. .. Argentine 6s ‘69 Jurie Argentine 6s 59 Oct. THE EVENING STAR, WKSfiIXGTON', High. Low. Am Chain 6s " 90s 9014 Am Roll M 6s Am Smelt & R AmT&T4%s'3 % 108% Am T & T deb 6s '60 Am T & T deb 6s 6! Am Wat Wks 6s'75., Am Writ Pap 6s°47., Ann A 1st ex in 48'95 Arm & Co 4%s '3y Arm o1 Del 6%s Armstrg Cork ¢ 103% 104% 107 101% 1017% 1064 109 106'% 101 804 9y 32 45% 1 106% Atl Coast L Ist 45 62 101 Atl Coast L clt 4s '52. 81% AtIC Ll un4y 91% Atl & Dan 2d 4848, az AUG& W 16s'59.... 46 Bal & Ohio 1st 4348, 102% Bal & Ohlo 4%s'60.. 57 ™ : Bal & Ohio 1st 53 48. 1074 Bal & O ref 5595 A. Bal & Ohio 6596 F. Bal & O ref 68 2000 D, Bal&Oref6s'95C.. B&O PLE&WV 4s 41 Bal & O Swn bs '50 Bal & O Toledo 48 '59. Beech Crk 4s'36 gtd. . Bell Tof Pabs 48 B Bell T of Pa 5 2:65, 991y 5914 1061 86 110% 104 107 ICCStLNO 4%s'63 ICCStLNOG6s'63.. Inland Stl 4%s'78 A. Inland Stl 43%s '81 B. Int R T 18t rf 65 °66.. IntRT 6s'32.. Int R T 65°32 ctfs. IntRT 78°32.. Int R T 7s '32 otfi Interlake 5851 Int Ag col 55’42 int Cement 5s '48 Int Gt Nor s '66 B.. Int Gt Nor 55’56 C, Int Gt Nor 6s 62 A Int GtNor adj 68'52A. Int Hydro El 63’44 Int Mer Mar 6s 41, Int Pap 1st5s'47A. Int Pap ref 6855 . Int Rys of C A 55’72, INtT& T 4%s '52...., IntT & Tev4%s 39, IntT&TSs Inv Equity 5547 A InvEq5is’48Bw w., InvEq5s'48 Bxw... lowa Cent 5s '8 ctfs. 111% 111 33 95% 5 24 55 1024 103% 1044 107% 10174 102 107 109 106% 101 81 } Kanaw & M 4590 KanCF S & M 4336, K CF&M rf 48 '36 cts. Kan Cy P&L 4%s 61, Kan C Sou 1st 3s '50. K C Sourfin Kan C Ter 1st 4s 60 Kan Gas&El 4%s ‘80, Keith 6s 46..... Kendell 5%8 48 ww. Kings Co Elev 4549, Kings Co Light 1stref bs'54.. Kresge Foun 65'36. . D. C, Reading Jer C 4s'61.. Rem-Rd 64 s47TAWW. Rep 1 & St 5s 40 Revere Cop & B Richtield Ofl 65 44 Richfield O 6s ‘44 ctfs RG W 1stex in4s'39, Rio G Wncol 48’49 A, StJu Lead 61%s'41... St Law&Ad 1st 55 '96. StL IM&S R&G StL-SF 48’50 A St L-8S I 4550 A cf: StL-SF4% StL-SF4%s78ct l( StL-SF6s50 B StLSWils 4s'89... St LS W gen rf 55'90. St LS W 1stTer5s'52, St P M&M ext San A & A P Seabd A Li4s " Seabd AL 4s 50cfs st. Seabd A Liref 4s°'69. SeabdAL relll'SPc(fl Seabd A L6s'45A.. . Sharon S H 6%s '48.. Shell Pipe L 5552, Shell Un Ol bs " Sierra & S F P 68 ‘49, Silesian Amn 7s‘41. SineCon O 7s'37 A... Skelly Ol 6348 So Bell T & T 6s 41 So Col Pwr 6547 A. So Pac col 4s°49... So Pac ref 4s ‘55, So Pac Ore 4%s°77 So Pac S F Ter 4s 50, Received by Private Wire Direct te The Evening Star High. 9814 9914 10315 1 1074 2 110 8 88 8414 103% 10214 104 Sine Con O 6%s'38 B, 1037 TT% 1013 Low. 2:55. 985 9814 % 99% 3% 10316 197% 107% 317 32 32 32 % 1% 475 4T 1114 88 THURSDAY, JANUARY 3, 1935. MARKET AWATTS | ANNUAL MESSAGE Trend Will Be -Influenced Primarily by Proposals From White House. BY GECRGE T. HUGHES. Special Dispatch to The Star. NEW YORK, January 3.—For the next three or four weeks, perhaps longer, the stock market trend will be influenced primarily by developments at the National Capital. Just now trading awaits the Presi- dent's annual message Friday and the budget message Monday, but eyen when Mr. Roosevelt has outlined his recommendations the reaction of Con- gress to them remains to be seen. The probabilities are that Congress will do as the President suggests, but even that is not absolutely certain. The bonus issue is a case in point. In his letter to the Henderson (Tex.) Legion post commander the other day, Mr. Roosevelt, opposing immediate payment, pointed out that the distri- bution of $1,000,000,00 in 1931, the| last time the question was up, had not stimulated business and there was no reason to believe full payment now, would result any differently. This would seem to indicate a re- FINANCIAL, CLEARINGS DROP BELOW YEAR AGO Unfavorable Comparison Due to Variation in Dates Between Two Periods. By the Associated Press. NEW YORK, January 3.—Bank clearings for this week were affected somewhat unfavorably in the compari- son with a year ago by the varfation in the dates between the two years. Total clearings for the five days ended January 2, at the 22 leading cities in | the United States, as reported by Dun & Bradstreet, Inc., were $4,709,221,000 against $4,805,479,000 for the five days including January 3, in 1934, a de- crease of 2.0 per cent. This contrast- ed with a gain of 13.6 per cent in the previous week of five days. At New York City, clearings were $3,096,941,- 000, a decrease of 8.8 per cent from the amount reported a year ago, while the aggregate for centers outside of New York of $1,612,280,000 was 14.3 per cent higher. For the current week only one day was included of the unusually heavy settlements through the banks, inci- dent to the opening of the new year, | whereas in the report of last year two days in January appeared. Hence, the ||| comparison is considerably out of line. *r A5 |Electric Power Output Shows Decline in Week By the Assoclated Press. NEW YORK. January 3 —Electric | power output last week totaled 1,650.- 467,000 kilowatt hours, compared with 1.787,936,000 the previous week, the Edison Electric Institute reported to- day. ‘The increase over a year ago was 7.2 per cent, against an increase of 7.9 per cent the week before. Regional gains over 1933 for last week were: New England, 64 per cent, against 5.7 the week before; Middle Atlantic, 4.7, against 6.5; central industrial, 75, agamst 8.7, West central, 5.3, against 6.1; South, 138, against 123; Rocky Mountain, 9.6, against 11.1; Pacific Coast, 2.9, against 4.7. S e EUREKA HOLDERS TO VOTE. NEW YORK, January 3 (#).—8tock- holders of the Eureka Pipe Line Co. will vote on a proposal to reduce the par value of the company's capital | stock from $100 to $50 at a meeting | to e held on January 24. American Gas & Electric Co. com- mon share earnings, 12 months ended November 30, were $1.63, vs, $1 Massachusefls Investors Argentine 6s'60 May. Arcentine 6s ‘60 Sept Argentine 63 '60 Oct. | Arzentine 6s°61 Febr Arcentine 6s'61 May. Australla 4% Australia 5s . Australia 58 '67.. . Austrian 7s 43 gtd. .. Austrian 7s'57. —_— Batavia Petm 414542 Belgium 6s ‘55 1 Belgium 6% ' Kl { Beleium 7s 1 Still, clearings for the past five years for the same two weeks, there was an increase of $1,254,126,000. At all cities qutside of New York, excepting two, | clearings continued considerably higher. Increases were notable at Philadelphia, Pittsourgh, Chicago, De- troit, Cleveland, St. Louis and Louis- ville. December bank clearings exceeded those of 1933 by 165 per cent. It was the first month since May for which larger clearings than in the preceding year were recorded. There also was an increase for the year of 1934 over 1933 of 8.3 per cent. This increase, Beneficial L6s 46 Beth Stl p m 55 ‘36 Boston & Me 58 '55. Boston & Me 68 '67 Bos& NYAL Bot Con M 6%4s'34... BklynCy R R6s'41.. Bkiyn Edis 6s°49 A Bklyn M T 6s'68 A. Bklyn Union El 6s 60 101 BR &P 5s'37. Bush Term cn So Ry sen 56 A bo Ry 58°94 60% 1024 % 813 1095 1024 10315 495, 48% Laclede Gas 55°39..., Laclede G 5148 ‘63 C.. Laclede G 5%8°60 D, Lake S&M So 313897 Lautaro Nitr 6s 54.0 Leh Val Coal Len Val Har LV Pa con 4s 2003 L V Pacon 4352003, Ligs & Myr 5851, Lizgg & Myr 7s '44, Loew's 65 41 Long Is] deb 58 Lorrillard 7s ‘44, La & Ark 5s '59 rose a shade. U. S. Government obligations gained up to three-thirty-seconds of a point, and federally guaranteed issues were also improved. Foreign loans were irregular, but xcaly 7s gained nearly a point at 931, Waslungton Exchange . SALES. Capital Transit Co—2 at 26, 10 at 26. | 10 at 26. ‘Washington Railway & Electric pfd.— 1at 101, Mergenthaler Linotype—10 at 30!z, AFTER CALL. Washington Railway & Electric pfd.— 13 at 100. Capital Traction 55s—$500 at 90. Potomac Electric 5!, pid.—. 1103, Washlrtglon Gas 6s B—$500 at 103. ‘Washington Railway & Electric pfd.— 1 at 101. Bid and Asked Prices. BONDS. PUBLIC UTILITY, Bid. jection on the part of the Adminis- tration of the theory that revival can be accelerated, at least at this stage, ) by further large additions to con- | sumer purchasing power. If that in- ference is correct, we have one line on the 1935 policy. ‘There is as yet no light on the out- come of the bonus fight in Congress. It does not yet appear whether a bonus veto could be overridden. Expected to Affect Dollar, The addition to the already large burden on the Treasury involved in cash payment of the bonus could not | yovever, was practically all - in but have a marked effect on the gold |the first five months of 1934, except value of the dollar, as registered by | for December. In the first half of the foreign exchanges, and upon the | 1934 bank clearings exceeded those for market for Government bonds. This |:he same time in 1933 by 16.9 per cent, would be so not simply because of |but banking operations for a part of the expenditure on bonus account |¥hat time in 1933 were at a standstill. but also because of the effect of |For the last half of 1834, including postponing the balancing of the|December, there was a loss in hank budget and the increased probability |ciearings of 1.7 per cent of inflation. s at leading centers, showing ! Some n of concern showed itself reases and decreases as compared in the exchanges in the closing days | With those of the preceding year, are of 1934, but it was not very pro- |Printed herewith: also daily bank nounced. If it should appear that | Clearings for the past two years. (To- | there was any danger of Congress |‘als in thousands.) out of control, the foreign P e day: in the dollar would cer- Trust Prospectus on Request William W. Mackall, Jr. Investment Securt 109' 109' 102 102% 1031 1031e Southw Bell T Stand Oil N J bs ‘46 Stand Ofl N Y 4%s ‘51 Studebaker 6542 Studevaker 65’4 R91G 109 10414 loos, 104'5 1007 Advice on Financial Matters Without Obligation 5% On Savings Home Loan & Savings Ass'n 1505 K St. N.W. L der Supervision S. Treasury Dept. First wmnn Loans on Property Nearhy Md. and Va b6 103 92 1034 92 9 hx Corp cv 55 40 Tex & Pac Tex & Pac Tex & Pac §s Tex & Pac 1st 5s 2000 Third Av ref 4s 60... Third A ad in ex 5 TobPrNJ 6% Tol & Oh W div Trumbull Stl 6s 40 50, Rerlin Fl-c 68 °55. Berlin Elec 138 ‘59 Rolivia 8s'47 Brazil 615='26-67. 1044 106 82 Can Nat Rys 4348 '54. 1 Can Nat Rys 415 '56. 1 Can Nat Rys 4%s 57. 1 Can Nat Rys 4345 "68. Can Nat Rys 435" Can Nat 55 '69 July . 10015 100 101~ 101 100% 101 10:] . 1007 101 101% 83 943 56 69 80 96 2 931 213 1021, 155741 filea. McKess & R 5135 ‘50, Marion St Sh 68°47.. Market St Ry 7 Mead Co 6s ‘4. Mer Ed 1strf4 Mich Cent 4.8 Midvale StI&O Brazil 83 Brisbane Brisbane 58 ° Brishane 68 '50.... 0 | ) 8 Can Pac deb 43 perp | “|Can Pac 415546, Can Pac 4128 '60 DIRECTORY COMMODITY BROKERS COTTON Y Cotton Exchenge 0. DI 2255 o ° e GRAIN Board of Tr 2 al UnEL&P6s'57.... 107 0 1075 J 86 9915 9T 109"y 102% 2 106"y 1081 1074 54 86 Un O Cal 5845 re ww UnOCal6s 42 A Un Pac 45 '68. Un FPac 18t 45 '47.. Un Pac 1st rf 4s 2001 [ Un Pac 43567 United Drug s '53. U S Rubber 58 ‘47 Utah L & T 5844 A Utah P& L 5544 Util P & L 5559 ww. Util P& L 5%s'47 Can Pac 5s '54. Caro C1& O 5s CaroCl& O 6s” Cent of Ga co Canada 4% '36. Canada 58 '52. Chile 65 60 | Chile 65 "61. Chile 65’61 Jan.. .. Chile 6s 61 Sept. | Chile 6s " : | Chile 6563 Chile 75 42 Chile Mtg Bk 618 | Chile Mt Rk 6% 261 Chilean M L 78°6) Chin Govt R Cologne 61 104 Asked. c o Cent I11 E & G 6s 51 Cent N Eng 4s Centof N J 4s Cent N J gen 5s Cent Pac 15t rf 45 49, Jent Pac 58 °60. . Cent R R BGabss" Cert'd deb 5348 o Chesayp Corp 47 C&Ogen 433892, ... 115% C&O4128'98 A.,uuy 108% C&O4338'95 B...... 1087y C & O con s 39 1 Chi & Alt ref 3s 14915 Chi'B &Q gen 48 '58.. 107 ChiB&Q4%s'77... 106% Chi B & Qref58°71.. 111 C B&Q 111 div 45 49... 1067 Chi & E 111 55 51.... Chi Grt West 45°59., ]ChiGre woas 59 Laidiaw & Co Westheitmer & Co ° [ RUBBER—HIDES METALS SILK Treasury, fund, can the dollar of | e Secretary through the stabilization | modify the mu on i such tore offset it en {of the Goy 1t bond market, for | .| the law gives the Trea: Secretary ‘s ;n herity to operate either in the u exchanges or in Government bonds, |} as he sces fit. A supporting influence | € | on Government obiigations is .the lack of other able institutional investment Utility Pol Of as much int markets ce attitude the public | for ¢ d il be no \.ur.m’ Ixr m the determination to obtain lower rates for the consumers &rgm" and power. That objective —_ xed What is in doubt is whether the MONTREAL SII‘VER | President will be content to attain |, MONTREAL. Ja |his end by reductions made by Lhexmnm Poacd { privately owned and privately op- | Ocicber. erated utilities, voluntarily or invol- juntarily, or whether he will insist | on duplicating facilities just to have PRODUCE EXCHANGE |* jiirdsics The New York City situation fur- NEW YORK. January § (#).—Produce ' Dishes the test. The Consolidated Exchange s fl:f list ¥e Gas Co. has offered to put into effect (Noon quot, the Washington plan, the one under ! which Potomac Electric Power Co. operates, but the proposal has been ed coldly by the municipal au- Mo K & T 456 Mo K &T 53 6 | Mo K & T ad1 55 '67 Mo 1 &ERUES T Cnmm Traction R_R & Suburban Gearerions Gus Pot. Elec_Pow. cons FPotomac Elec 95,19 sh. Gas 5<. Vanadium ov § Va Ry 4! { Va Ry I!( 5 A. Ver Sug 1st 7s ‘42 cfs Wabash 438 78. \Wabash 1st bs'39 ‘abash 5576 B. vabash 5580 D. Walworth 6545 A... ! Warn Bros cv 6s 39, Warren Brev 6s°41.. Wash W P Ist 55°39. W Pa P 1st 5546 A West E1 deb 53 44 Mo Pac 58 Mo Pac 5 Mo Pa 3 "8G '80 H. 811. as 65, series B wy. & Elec. 4s.. MISCELLA! EoUs Wash. Colombia 6s '61 Oct Col Mtg Bk s 46. Copenhagen 4% Coperhagen 5s 52 Copenhacen Tel 5 Cordoba 7s 42 Prv... Cost Rica 78 '51 A May couon.. Cuba 538 °45... Cund'amarca 6;s | Czechoslovakia 8s | Czechoslovakia Mout Cent 6s . Mont Pow ref 58 43, Mont Pow 55 '62 A. Morris & Co 41 e "Country Ciib Paper Mfg 6s M. Cold Storage 5s STOCKS. PUBLIC UTILITY. 3128 101 15 92 ¥y Watched. rest, so far as the ned, will be the a(muou toward v be taken | 165 ) 97 are Average Daily No Rerewals No Commissions $10.00 Per Month Per $1000.00 COLUMBIA PERMANENT BUILDING ASSOCIATION 733 12th St Murray Body 6 351 35 1017k 8Tl 86y 101 Nassau El 4531 gtd Nat Dairy 5145 °48. n ol tr 53 38, West Un 58'5). West Un 5360 West Un 6148'3 Wheel Stl 4155 '55. 913 Wheel St151.5'48 A.. 1007, Wilson&Co 1st 6s'41, 108 WisClstgends'49., 1 96 961 Denmark 4%s '62. Demark 5%s '55. Denmark s " Dominic 1st 51 CM&StP 4278 CM&S CMStP & P 5s'75. CMStP&P ad) 68 2000 Chie NW gn 3%3s ‘87 Chi & NW gn 4s 87.. Newb'ry (JJ) 535 40 NET&T Istbs 5 NewJP & L 4% | 481, Estonia 78 '67.... 2 2 108° 13 . 105 i L 100 TRUST COMPANY. Amer. Sec. & Tr. Co. (R) National Sav. & Trust Wash. Loan & Tr. (X) SAVINGS BANK Com. & Savings (4) : Washington Finland 5158 '58. . Finland 63 45. . | Finland 6128 '66 Finland 7s 50.. Finnish 61,85 Finnish 63554 B Frankfort 6168 53 French Gov 7 Gelsenkirchen 6s 34. Ger C Bk A 6560 Oct. Ger Gen E1 614540 German Gov 5= ‘65, Ger Prov & City Bk con Ag 6168 38.. German Rep 78'49... Graz 8s '54 unm co on Great Br & Ir 5%8°37 GrtCElJap7s'44... 210 o Youngtn S&T i8'70B . k3 NWV 43,5 49.., Chi & NW 4%s'87... C&NW Nr W bl3s 36 American Corcoran Firemen's (1,60} National Union (60j. ... .. TITLE INSURANCE. Columbia .30) Real Estate (6.00) MISCELL. Carpel_Corp (1) D. C. Paper Miz bl Emer. Bromo-Selz A Lapston Monotype (1) . Mergenthaler Peoples Drug St pfd, 1Est. M & G SUGGESTION FOR DIVIDEND MONEY Invest in our FIRST MORTGAGES —where the interest is definitely fixed; and the security protects principal. Consultation without obligation. May be purchased in amounts from $250 up. B. F. SAUL CO. REAL ESTATE National 2100 925 15th St. N.W. tions ) High. Lew. Last 108 107% 135 Over Forty Years of Experience NEOUS Ta build a municipal plant, how- ever, a grant from the Federal Gov- sary, and the ques- r the P. W. A. will 5 with Mayor La Guardia or | ® | whether it will favor the suggested <ompromise. In this matter Con- gress may be expected to go along with the President. The result will decide mn nd in the market for | | Childs Co s ‘43 Chi CinGasEl 45 68 A. Cin Un Term 5s 2020. CCC&StL gen 4593, CCC&StL rf 5363 D. CCC&StLrf 4% s'T7TE CCC&StL Cdiv4s'39 103, CCC&StLref 65'41C.. €8 Clev Un Ter 413877, 90's Clev U Ter bs 73 B... 96% Clev U Ter 5%s'72 A, 10275 Colon O1l 63 '38 38 Col Fuel & 1 5543 66y Col Ind cl tr 55 '34. Col& Sorf 4l Col & So 43;s (ol GEE 58 b2 May.. Col G & E58°61. Col R P L 1st 4% Com Inv Tr 638 49.. 110% Con Coal Md rf 6! ConGas N Y 448 Con Gas N Y 6s '57. Con G NY 5%s'45 reg 1051 Container deb 5s 43 841 Container 6s°46 CrownC&S6 Crown Zell 6340 ww. Crown Will P 6s '61.. 1 Cuba R R 18t 68 52.. 3 Cuba R Rref 745’36 29'3 Cuba Nor RR 614842 37 Cuban Cane P 6s '50. 13 Cumb T & T 6s°27 06% Del & flud rT 48 43... 94% Del & Hud 58 37 102% Wl?&bl‘ 8 '69.... 102! Den & R G r5s'78.... 19% D& RG W bs 5basst 10% Det Edison 41s'61 D. 1074 Det Edison rf 5s'49., 107'3 Det Riv Tun 448 '61. 106% Ddge Br cv db s '40.. Donner St ref 7s '42. Dul & Ir Rg 583’ Dul SS & At §s 37 Duqu Lt 4%s'57 B Duqu Lt 1st 4345 '67. E Cuba S 7%s ‘37 EIP&S Wref 58’65 Kriecv4s ‘53 A... Eriecv 4s'53 B Erle 4396 Erie gen 48 '96. Erierf 5s°'67.. Erferf 65 °75.. Erie Gen R1v 6s ‘57 Erle & Jersey 6s'55. . Linotype L8300 110 Helsingfors 61,5 '60. Hungary 7138 '44.... 1014 . 421y *Ex dividend INVESTMENT TRUSTS NEW YORK. January 3 (P).—New York Becurity Dealers’ Association (Noon auotations.) Bid i 931, 83 Jtaly 7s°51.. Ital P UCrd 78 '62 FEDERAL LAND B! NEW YORK. January 3 Land Bank 1Quotatis ay & Nov . #.—Federal | First Mortgage 2 g 96 Japan 5%s 65, Japan 6138 '54. * as of 2 o'clock.) Investments M hi American | c) KreukToll 58'59Acfs. 27% Asked Asked N Y. NH&H cv 65 48, N Y, O&W gen 4s ‘55, Y. O&\W ref 4s°92. Steam 55 5 N Y Steam 1st 6547, N ¥ Tel gen 44253 NY WE&B4ls 46 Niag L& O Pw Niagara Sh 5138 '60.. Norf Sist refds'61cs. Norf & W div 4s ‘44.. Norr & W 1st 48°96.. No Am Co 53 '61. Nor Am Ed 58 Nor Am Ed b5 69 (.. . No Am Ed 538 '63... Nor O T & L 6s'47... Nor Fac gen 35 2047.. Nor Pac 48 '97. Nor Pac 4145 2047, Nor Pac 5s 2047 C. Nor Pac 6s 2047 D, Nor Pac 63 2047... Nor Sts P 1st 5841 A Nor Sts P6s’41 B.... Ohio Pub Ser 7s 47 Ohio Pub Ser 7%s 46 Ohio River gn 5s Ont Trans 1st 55 '45. . Ore-W R R& N 4s'61 Otis Steel 6s "41 DIVIDENDS ANNOUNCED NEW YORK. January 3 —Dividends de- E“Sri;nfi (prepared by the Standard Statistics Admin, Fund s Am Bankstocks Am Business Shrs Bullock Fun: Cumulative Tr sh’ Corporate Trust . Corporate Trust A'All 100 « 1001 1014 100% 6 Tk 8313 183 1813 100% Medellin 6158 '54. ... Mer Water 6158 ‘60. Mex 45 °10-45 asst 8, Mexico 4s '54 asst. Milan 6% Minas Gers 6148 Minas Gers 625 '59 PROPERTY MANAGEME Extra. Rate, F5aSiock of Pay- 2 ate riod. recor 10072 a. able. U §. TREASURY NOTES. (Reperied by Chas. D, Barney & Co.) re—Maturity. Offer. Cresson Con Gold Mog &x D. H. M(KNEW & COMPANY Announces Bccu Denn! Bk sh N Y A Depos Ins Shrs “A", Diversified Tr C Dividend _ shre In:orn I'ues! Tr Ctt Accumul Brandon 7% pf . New So Wales 68 'A7. New So Wales 53 63. Nord Rys 68" r Ger Lioyd Norway bs '63. Norway 538 '65. Norway 6s'52.... Norw Hy El 56%s Norw Mun Bk s '67.. s ‘47, Passed. First Nat Bank Cumberland Md Resular. Am Alliance Ins (NY) Am Coal of Am Reserve Cerro De Pasco Copr 5 Comwith Tei e pi $1 Cresson Con Emplosers Group As. 12 Golden Cycle Corp. - 4 Great T In: Incorp Locws e pt Mnronnll an Indust Co ;. Pl ot cts Mohroe c.m Mch pt 15 Corp Am the removal of its office to the NATIONAL SAVINGS & TRUS1 COMPANY BUILDING DISTRICT 3160 . 106% Incorp Investors s InER RGO ias Investors Fund of Am Mass Invest Tr .. Mutual TInvest Oriental Dev 6s '53... Oslo 6s ! and further takes pleasure in announcing that MR. RICHARD M. SMITH formerly of Hemphill, Noyes & Company, has become a saciated with this firm as its vice president as of this date D. H. McKNEW & CO., Inc. Members Washington Stock Exchange Panama 55’63 std asd. Paris Orl Ry fi%! 68. Paulista Ry 75’42 Pernambuco 7s '47 105% 1073, Quarterly Inc FOREIGN Exc‘xuNGr.s NEW YORK. January 3 —Foreign exchange irregular; Great Brlllln in dol- lars. others in cents. Great Britain G0-day bills, m e 15¢ Nr\luern ‘J.h hcnlLV Bigc, Pl §1.621 Do ' cables, | Potomac 4 m e bt PacG & E5s°42. Pac Tel 1st 58 '37 Pac T & T ref 6s 52 Par F La 65 47 file Par Pbx 53%s ‘50 ctts. Par Pbx 5%s '50 filed Park-Lx 635 '53 ctfs. Parmelee 6s 44.. Pathe Exch 7s '87.... Penn R R cn 43'48stp. Penn R R 4%s'81D.. Penn R R 4%884. Penn R Rcn 4%s 60. Penn R R gn 4% '65. Penn R R db 43370, Penn R R 4%s 63 Penn R R 63 64 Penn R K gen b3 '68.. Penn R R 6%5'36.... Penn P& L 4%s '81., Penn Dixie C 63 41... Penn O & D 4%s77.. Peo G L & C ref 55 W41 PeoGL&CEs'43... Peoria & E inc 43 '90. Peor Peki Un 5135 ‘T4 Pere Marq 1st 4s'66.. Pere Marg 1st s '56. Phila B& W 412881, Phila Co bs '67... Phila El Co 4571 Phila& RC& 15873 Phila& R C & 1 63 '49 Phillips Pet 5%s ‘39, Pillsbury F1 M 6s 43, PCCC&StL 5’70 A.. Port Gen El 4%3 60.. Port Gen E ¢%# Porto Rico A T 65°42. 487 48% Postal Tel & C 55'53. 46°' 44% 45% Pub S El & G 4s'71,.. 105% 105% 105% Pub S E1& G 4%s '87. 107% 107% 1075 Pub S El & G 4145 °70. 107% 107% 107% Pure O115%s '37..... 100% 100% 100% Pure Ofl 5%s°40..... 100's 997 100% Purity Bak bs'48. 89 88 88y Raymond Eniiere Pile i P! Rochester Am Ins NY 3¢ 8alt Creek Prod Asso (¢ United Lt & Rail (Del) i pr opf 38! Queensiand 6s ‘47.... per of Al T sunemud shrs Trust Fund teed lnaumy snrs Erunelfl Y Pk S rusteed Am Bk FREIGHT LOADINGS. NEW YORK. January 3 (.~ Revenue freicht car loadings on railros Tepo! for the five-day week ended Decemper 0 ineluded: Rhine W E1 P 6s'56.. Rio Gr do Sul 6568 Rio Gr do Sul 7s 66. Rio Gr do Sul 75 '67. Rio Gr do Sul 8s '46. Riode Jan 6%s'63. Rome 6148 '52.. Ruhr Chemical 6s'48. Rumania 78 ‘69 Aug coupon off 108% 9% 108in D. H. McKnew. President Wm. M. Guthrie, Vice President R. M. Smith, Viee President E. C. Nolan, Seety.-Tre Howell P. French. Stock Dept. T. L. Hume, jr, Municipal Bonds 9%, 921 T6'a 76‘1 38.77: Ehanghai, 4 < erlcn City l‘sll fi. ew Yor 200032 New York 1 Montreat, 09,0 Y. | o D0 8 pr DI n—Nominal. " Penn El 7% pf.$ Do 6% pI.... ..§ N LONDON BANK CHANGES. LONDON, January 3 (P.—The weekly statement of ‘the Bank of England shows the ‘ollowing changes in pounds: Totel reserve increased 10.4:5mm circulation decreased, 10,433.000: “bullions _increased | (o’ 8.000; other securities tncreued 16.5 91y 000: ' public deposits _increased other deposits increased 2. 000 reserve increased 10.46: securlflel m“ened 1 The Lability s 1 per cent, ¢ ECHE: ompared with te"of disgount, 2 per cent, o PARIS BANK REPORT. PARIS, January (®.—The weekly statomant of the "Bank ‘5t France Bhons the folowing changes in francs: creased 1,000.000: sight increased ' 2,000,000; bills home increased 547.000.000% bills- st abroad increased 1,000,000:" advances in- creased 24,000.000: circulation incrcased 1,850, 000000 current. sceounts decreased 11078.000,000. Rate of discount, 2% per cent. RUBBER FUTURES. NEW YORK. January Tubber futures, npened nrm January. Rfay,'T7a] duly, 139381 tablished 1861—Oldest in Washington Don’t Worry and Study Over Your First Trust If you are faced with the problem f first trust loans, refinancing or remodeling, come in and talk over your problems with us. We have plenty of money available at 6% interest, on which you only pay $10 per $1000 per month—with the privilege of reducing this amount from time to time, at no additional expense, No Bonuses—No Renewals—No Commissions LOANS ON D. C. REAL ESTATE ONLY ORIENTAL Building Association No. 6 600 F St. N.W. Telephone NAt. 2162-3 Under U. S. Government Supervision Sao Paulo St 68 ‘68 Sao Paulo St 78 40. Sao Paulo St 7s 56, Sao Paulo St 8s°60... Santa F Arg 78'42 stp Saxon Pb W 78 '46 Serbs 7s '62 Serbs 7s'62 ) Silesia Elec 618 46 Sydney 6%s 56 & No Western Chfllp?lke & Ohio Pere Marquette Tllinois Central Southern Pacific* St L-8an_Francisco Missouri-Kans-Tex New York Central 7 Pennsylvania *Own lines only. FOREIGN MARKETS, Bythe Associated Press. LONDON.—Trading on the Stock Ex- change was fairly active today. T ©securities. unaflected by rorlhcnm- han poler mining © shares and trans: | = als. gold mining _shar T Niluniie fisues aiso mproved. French and | Ujigawa E P78 45... German bonds advanced. The market | Un Stl Wk 6148°47 A. cloged frm. Uruguay 6s ‘60 ARIS—A buoyant tone prevailed on guay the Bourse ‘today owing to the favorable | Uruguay 6 ‘64 The Bank 'of France. which wi J.;::'L"x'aé’& 1 nk of ance. wi Wi Warsaw 7s ‘68 1o mean that the bank to " pla: - bigger role in the loosening of ereait, | Westphal El P Yokahama 6s '61 Rentes improved and bank stocks were stfong. The closing was firm BERLIN DOMESTIC BONDS. High. Lot CHICAGO PRODUCE. Fla EC Ry 6s'74... _CHICAGO. Jlnuuy .x (). —-Bul(er 8. Gen Am Inv b8 '52... Gen Baking 5%s'40.. Gen Cable 6%8 47... Gen Pet 58 '40. Gen Pub Sve 5%s "39. Gen Steel C 61ps 49 ., Ga Mid Ry 1st 3s'46. Goodrich 6s ‘46. . Goodrich 618 47, Goody'r T & R 68 °'57. Goth Silk Hos 6s '36. . Gr Tr'k of Can 78 '40. GtNRref4s’'61 A, 'm a0 e . seconds (6 arlots), 30. 2214 Butter, sales. tour cars tiancarés. 3 30 30 N1 \mtemcd E-u—. nrsu 100% 100 T4% 30 100 rumeramr *arsts Egg sales, 8 cases. 3012 Yaded. ‘Arsis, 360 e, 47 lruc&‘ unsellled hens, 41, pounds up '2 pounds. Poanorn thens. 10: Hock Sorings.12s colored. 17alx: Leghorns, 1:3: roosters. hen turkeys, 20: voung toms. 18: old. ;1 ducks. 412 04 e: 87 ty' Taiwan E]1 5%s ‘71. Toho El Pw 75 ‘66, Tokio 6%s '61. Tekio El Lt 6s '53. 109% 109 109 104% 104'% 104 9615 96% 951 106h 106% 106% 99% 99% % T7% 6% TT% 871§ §87% 92% 93% 'l’l“i 7% 87% 93% i young hens. 23i atoes ck. 146: total United States shipments. about steady: sup- Dlies moderate: demand and trading slow: I No. 1. 1.60al.65: Wisconsin round whites. 712: Michigan Russet 108 12 111‘6 112 51 50% b50% 50% 50% 90% 48% GtNRgenT8'36A.. Har Ry-P C 1st 4s 64 112\ uz». 1121. Hudson Coal 2... 43% 42% 48“ Hud Co G 1st 68 . 118% 113% 113% Hud & Man ref 57, 87 8% Hud & Man inc 68 57. S'IK 36% 36% 111 Bell Tel 65°56.... 110% 110% 110% [l Centcoll tr4s'62. 80 80 80 111 Cent ref 4s ‘58 Il Cent 4% s 111 Cent ret 65 66 Houston Oil §% 3 (. —Crude to 14 higher; 3.50a1% b—Bid. 1,300 TONS OF LEAD SOLD. NEW JORK, January 3.--The St. Joseph Lead Co., reports that 1,100 PR aC, tons of pig lead was sold yesterday at ———————— NEW YORK BAR SILVER. $3.55 per hundred pounds, St. Louls, Reading 4%4s'97 A... 107 106% 1072! NEW YORK, January 3 (#)—Bar|and 200 tons at $3.70 per hundred Reading 4%s°'97B... 107 107 1078 silver steady, !5 lower at 547%. pounds, New York. 4 A Boerse today. developed some SAVANNAH NAVAL STORES. |Abr&Straus = A hv—vPl’efen'ed sttflnfle% opened Weakness and closed steady. e Abr & Straus 5%s'43. 104 BAVANNAH, Jlnunry 3 (). —Turpentine | Alb&Sus 3158 '46 xtd. 100% 100 firm. 46'% uln r-cewls 161: ship- | Alb Per W P 68 ‘48 58 45 e O 14 " stock. =) 15h Rosin frm: e 844 30: shipments, 458 & Corp b8 - ”14151 or'«'rf!’g‘;o !nl gD Hba: Alleg Corp 1 Member of Federal Home Loan Bank System The District of Columbia Building and Loan League 85% 85% 857 61% 60% 61 w 93% 93% 93% A 101 100% 100% A