Evening Star Newspaper, January 4, 1935, Page 16

FINANCIAL. STOCKS IRRECULAR AFTER MESSAGE Rails Firm, but Metals, Utili- ties and Others Drift FINANCIAL. THE EVENING STAR, WASHINGTON, D. C., FRIDAY, JANUARY %4, 1935 TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Evening Star. A—16 ¥*% CHRISTAIAS CLUBS | ENROLLMENT UP Membership in 18 Capital Banks Will Be Closed 2:30 p.m. Previous 2:30 pm. — 1034 — Stocks and Sales. High. Low. Stocks and dividends. High! 30s 131 2 1 Previous 2:30 p.m. — 1934 — Stocksand Sales. 2:55 Net High. Low. Dividend Rate. Add 00. High. Low. Clo Chge. 4% 1w StLSanFran(k).. 8 1% 1 + 6% 1% St L San F pf (k). 2 12% 5% Savage Arms. 8% 174 Schenley Distillers. 8 3 Schulte Retail Strs. 15 Schulte Re Strs pt. 15 Seaboard Air L (k). 20% Seab'd Oil(Del) (1) Prev.ous — 1934 — Stocksand Sales. Low. Dividend Rate. Add 00. Bllb 56% Contl Can (2.40)... 14 6 Contl Diamond Fib, 2 23% Contl Insur (t1.35). 11 % Contl Motors . 15 16% Contl O Del (h50c). 19 40% Corn Ex Bk & Tr(3) 1208 55% Corn Prod Ref (3). x 3% Coty Inc.......... Previous ~— 1034 — 2:55 Met H Low. Close. Chge. 5% — % 2:55 Net Low. Close. Chge. 13014 130% 1 1 *% 12% 12% + % 44'% 46% +1 90% 2:55 Net Low. Close. Chge. | High. 110 110 bas 7 11% Stocks and ixh. Low. _ Dividend Rate. _Add 00. High. 111 89 Abram Straus pf(7) 60s 110% 11% 6 Adams Express. 7 85 T0% Adams Ex pf (5)... 505 86 847% 16 Adams Millis (2)..e 6 334 11% 6% Addressograph. 13 3% 102 ' Lorillard (P) pt (7). % Loulsiana Ofl...... 21 12 LouisvG&E(A)1%. 621% 37% Louisv & Nash (h3). 19% 8% Ludlum Steel. . 97 60 Ludlum Stlpf ) 30 ac Andrews&F 13, 2% 22% b1 84% 16% - % 92 +1 40% — % 913, Air Reduction (3)+s 1% Airway Elec Appli... 16% Alaska Jun (1120). Tomorrow. BY EDWARD C. STONE. Enroliment for 1935 membership in | Christmas savings clubs in 18 Capital banks will close tomorrow, after being open since December 1. An unofficial survey of the banking district today indicated that the number of members in the 1935 clubs will far exceed the enroliments last year and that the amounts subscribed will also be a good deal ahead of the 1934 record of an aggregate 0. { about $4.500.000. The Christmas club idea has taken on renewed vigor as the date for the closing of entries has ap- proached. It appears that most of the old members are going back in the 1935 clubs and that many of the new arrivals in the city during 1934 have also taken up with the thrift plan. In several instances, the banks report twice as many enrollments as they had at this time last year. A good many of the 193¢ members are sub- scribing larger sums this year, also. It will be some time before the total amount is known and reported to the District Bankers’ Association The banks having clubs this year include American Security & Trust, Anacostia Bank, Bank of Commerce & Savings, City Bank, Columbia, East Washington Savings, Hamilton, Lib- erty, Lincoln, McLachlen, Munsey Trust, National Bank of Washington; National Savings & Trust, Riggs, Sec- >nd National, Security Savings & Com- mercial, Union Trust and Washington Loan & Trust. McKnew Opens New Offices. D. H. McKnew & Co, investment bankers, have moved into more cen- trally located offices on the second floor of the National Savings & Trust Building, the new quarters being most accessible to the firm's clientele. ‘Through membership in the Wash- ington Stock Exchange, ticker service and direct wire connections with New York correspondents, the firm is now rendering complete investment bank- ing service. Richard M. Smith, who has been manager of the bond trading depart- ment in the Washington office of Hemphill, Noyes & Co., has become vice president and already assumed his new duties with the McKnew firm. He was associated for several years with the local office of Gillet & Co. of Baltimore. Before coming to Washington Mr. Smith was engaged in the invesiment business in Birmingham. Ala., where he formerly practiced law. A native of Fauquier County. Va., he attended St. Lawrence University, Canton, N. Y., and the University of Chicago. Donald H. McKnew, the head of the firm, has been active in the finan- cial district here for several years. Local Dividends Declared. ‘The Board of Directors of the Terminal Refrigerating & Warehous- ing Corp. has declared the regular semi-annual dividend of $1.50 per share on the total outstanding stock of the company, payable January 7 to shareholders of record on January 3. The board met yesterday. Secre- tary J. Johnson announces that for the past 10 years the stock of the re- frigerating company has consistentiy paid 6 per cent annually on its por value of $50 a share. The Board of Directors of the John H. Wilkins Co., coffee merchants, have declared the regular semi-annual dividend of 4 per cent on the out- standing preferred stock and a dividend of $1.50 per share on the outstanding no-par common stos lhscth dividends are payable January The Perpetual Building Association, Eleventh and E streets, has reduced dividends to 412 per cent, effective as of January 1, 1935. The announce- ment states that a surplus of cash and a scarcity of loans has brought about the reduction. The notice®to the public adds that “uninvested money has no earning power. It can- not create income. The strong cash position of the association, combined with a scarcity of acceptable mort- gage loans, is the basis for this con- servative policy.” The company now has assets of over $36,000,000. Investment Code Facts Asked. Y. E. Booker, chairinan of the In- vestment Bankers Regional Code Committee in district No. 13, which includes Washington, Maryland, Vir- ginia, West Virginia and the Caro- linas, has sent letters to all registered investment dealers asking for special information bearing on the fair prac- tices code, which the Investment Bankers® Association now has in oper- ation. Dealers are asked to write the com- mittee describing the procedure used by each firm in accepting and con- firming orders to buy and sell, botlr as principal and agent, and present copies of forms used. Dealers are also re- quested to give a list of new salesmen employed since June 1, 1934, with complete information about their pre- vious investment banking experience. Coples of all forms used in obtaining consent to call upon or telephone in- dividuals at their residences are also asked. The Booker letter states that the majority of code violations to date have been due more to ignorance and carelessness than to deliberate intent. ‘The requested information will show Just how familiar the dealers are with the new fair practice rules. The facts are requested with the full support of the National Code Committee. Heard in Financial District. Thomas W. Brahany, manager of the Washington office of E. A. Pierce & Co., stated that Robert K. Cassatt and Joseph W. Wear, partners in Cas- satt & Co., are to become members of the Pierce firm. The Cassatt firm will change to an investment house only, customers in the stock department be. ing invited to use Pierce’s facilities. Trading on the Washington Stock Exchange, which showed a lot of New Year pep yesterday, was dull today. As bid and asked prices were checked off, but one sale took place, a small lot of Mergenthaler Linotype stock changing hands at 30, same as the last previous sale. Terminal Refrig- erating & Warehouse Corp. stock was quoted exdividend today, the bid standing at 33! After being in effect two and a half years, the Government's 2-cent tax on all bank checks expired with the ending of the old year. The passing of the levy will take a great weight off the bookkeeping departments in ! the banks and in the long run mean & lot to all bank patrons. Donald H. McKnew. 23% T4 5% 164 160%: 130 23% 2% Albany Wrap Paper 1% Alleg Corp (k). . 4% Alleg Cp w330w (k 115% Allied Chem (6). . 122% Allied Chem pf (7). 10% Allis-Chalmers. . .. 11 Alpha P Cem (a2, 213 Amal Leather. 39 Amerada Corp 25% Am Ag Chem Del(2) 11% Am Bank Note..... 1915 Am Brake Shoe 80c. 90% Am Can (15).. . 2 126% Am Can pf (T)... 16 12 Am Car & Foundry. 32 Am Car & Found pt. 46% Am Chicle (13%) ... £0% Am Comcl Alcohol.. €13 Am Crystal Sugar.. 46% Am Crystal Sug pf. 1% Am Encaustic...... 4 Am European Sec... 37 Am & Foreign Pwr.. 11% Am & For Pw pf (7) 6!x Am & For Pw 2d pf. 312 Am Hide & Leather, 17% Am Hide & Leath pt 261 Am Home Prod 2.40 3 AmIce Co.. 25% Am Ice pf (6). % Am La France (k). 31 Am La Fran pt (k). 1415 Am Locomotive. . 12% Am Mch & Fdy (1).. 413 Am Mach & Met ctf, 1275 Am Metals 63 Am Metals 3 AmPowers Light. 4 Am P&L $5 pf (1%) u'- Am P&L $6 pf (1%) 10 Am Radiator. 111'; Am Radiator pf (7). 1:31: Am Rolling Mills. .. fety Razor(4) % Am § 17% Am Shipbldz (2). 30% Am Smelt & Ref 100 Am Sm&Ref pt (7). 48% Am Snuff (1334) ... 10% Am Steel Foundry 5974 Am Stl Fdry pf (2). 37 Am Stores (12%4). 46 Am Sugar (2).. 13% Am Sum Tob (1) 100 Am Tel & Tel (3). 65% Am Tobacco (5) 67 Am Tobacco B (5) 107 Am Tobacco pf (6). 4 Am Type Fdrs (k).. 7% Am Type Fdrs pf (k) 12% Am Water Wks (1), 7 Am Woolen. 5 86 Am Woolen pf. 1 Am Writ Paper 27 Am Writ Pap pf (k) 3% Am Zinc & Lead. ... 10 Anaconda Copper... 1314 Anchor Cap (60¢) 84 Anchor Cap pf(634) 4% Andes Copper. . 261 Archer-Dan-M (1) 110 Archer-Dan pf (7) 76'% Armour Del pf (7).. $ly Armour of Illinois. . 46% Armour 11! pr pf (6) 3 Arnold Constable... T Asso Dry Goods. . 46 Asso Dry G 1st pf 36 Asso Dry G 2d pf 454 Atch To & S F (h2). 705 Atch To&S F pf (5). 2413 Atlantic Coast Line. 2113 Atlantic Ref (1).... 35' Atlas Powder (2)... 5'2 Atlas Tack.. 4 Austin Nich pf A(5) 3% Aviation Corp Del.. 41; Baldwin Loco. 16 Batdwin Loco p! 1.3 Baltimore & Ohio. 15 Baltimore & Ohlo pf 8612 Bamberger pf (612) 60: —3 ATcnoalnmmE e Lervar~ 2 o & > WR AW RO~E B o 6 10s 163« Barker Brothers pf. 1504 57 Barnsdall Corp. . 23 Bayuk Cigar (h1) 10% Beatrice Creamery.. 8% Belding-Hem (h50c) 9% Bendix Aviation.... 12% Beneficial Loan 1%. 26 Best&Co (13%). 241 Bethlehem Steel 19% Bizelow-San Corp 6 Blaw Knox... 17 Bloomingdale (40c) 88 Bloomingzdale pf (7) 28 Blumenthal pf..... 6% Boeing Aeroplane. . 441 Bohn Alumn& Br(3) 76 Bon Ami (A) (15) 19% Borden Co (1.60). 16' Borg Warner(t1% 4 Brunswick-Balke... 3': Bucyrus-Erie. . Bucyrus-Erie cv pf. Bucyrus-Erie pf (2) Budd (E G) Mfg Budd (E G) Mfg pf. Budd Wheel... 5% Bullard Co. . 10% Burr Add M (40c 24, Bush Term deb (k). 5% Bush Tr Bldg pf ct. 112 Butte Copper & Zine 1% Butterick Co. 13% Byers (A M) 40 Byers (AM) pf. —————— 183% California Pkg(1%) 14 Callahan Zinc. .. 2% Calumet & Hecla. 6 Campbell-Wyant... 12% Canada Dry G A (1) 107% Canadian Pacific. 5% Capital Admin (A). 26% Case (I 1) C Caterpillar 17% Celanese Corp. 1% Cerotex Co (k) 1 Celotex vte (k). 6% Celotex Zo pf (k). 18% Cent Aguire (1%) Central RRof N J. ntury RibMpf(7) 30% Cerro de Pasco (2).. 8% Certain-teed Prod. .. 17% Certain-teed pf. 3915 Ches & Ohio (2.80). 34 Ches-Corp (2%).... 1% Chi & Eastn I11 (k) o 1% Chi & EIIl pf (k)... 115 Chi Great Western 213 Chi Great West pf 2 Chi Mil St P& Pac 3% Chi Mil St P &P pf.. 3% Chi & Northwestern €5, Ghi & Northwest pf. 3% Chi Pneumatic Tool 14% Chi Pneu Tool pf... 1% Chi R 1 & Pac (k)... 2 CRI&P6% pf (k) 1% CRI&P 7% pf (k) 19% Chickasha C O (2).. 3% ChildsCo....... 291 Chrysler Corp (1) 67 City Ice & F nf 6. 1 City Stores (K).. % City Stores ctfs (k) 2% City Stores A (k). .. 2 City Stores A ct (k) 24% Cluett-Peabody (1) . 9% Colgate-P P (50¢) 10 Collins & Aikman. 5 Colonial Beacon Oil. 3% Colo Fuel & Iron(k) 11 Colo & Sou 2d pf... 6% Col Gas & Elec..... 211 Colum Pic vte(m1).. 18% Comel Credit (2). .. 91% Comcl C 1st pf(6%) 24 Comecl Credit(B)(2) 86% Comel Inv Tr(t2%) 15% Comcl Solv (60¢) . 1 Comwlith & South.. 21\5 Comwlth & S pf (6) nde Nast Pub. 2; Congoleum-N (1,60) 3 514 Consol Cigar. .. 1% Consol Film.... 10% Consol Film pf (§2) 1814 Consol Gas N Y (1). 71 Consol Gas pf 5). 7% Consol Oil (h42¢) ... 14 Consol Textile. . 6% Container Corp (A). 2% Container Corp (B). 5% Contl Baking (A)... % Contl Baking (B). 44% Contl Baking pf (4); \ 17 7 11 19 = 3 120 4 p Admin pf A (3) llO- 1 16 Conn Ry & Lt (4%2) 100s 129% 5 1415 14's 9 44 1% 4 L 11% 175 103 5 38% 118Y% P4+t 44+ 1+ ++ * O FETFISIEF L+ 10+ 19% ke 838, 13% B4 18% 56% 28% 46% 23 28l 10 12% 116% 147 w2 19% b4 4 35 25' 9l o9t 25 17% 21y 80 1714 2T% 17 500 19% 20 1'% 87 43% 14% 118 3% 10% 12% 24% T 3874 66% 121 7 19% 33% 28 Cream of Wht 12%. 18% Crown Cork & S (1) 351 Crown C&S p£(2.70) 3% Crown-Zellerback. 17 Crucible Steel. 44 Crucible Steel pf. 3% Cuban-Am Sugar. 20% Cuban-Am Sugar pf llOl 1834 Curtis-Publishin: 43% Curtis Pub pf (6 23 Curtiss Wright. bl Curtiss Wright (A) 11 Cutler Hammer.... 10% Deere & Co. 10% Deere & Co pt e 85 Delaware & Hudson 14 Del Lack & West... 8% Den & RG W pf.... saw Detroit Edison (4). Det & Mackinac pf.. Devoe & R lA)('l). Diamond Match (1). Dome Mines (13%). Dominion Strs(1.20) uk Douglas Aircraft... 3 Dunhill Internatl. 80 Du Pontde N (2 60) dfi 21 31 4% Eastern Roll Mills T stman K (14%).. 120 Eastman Kod pf(6) 12% Katon Mfg (1).. 6 Eitington-Schild 15 Electric Auto Lite., 80 Elec Auto Lite pf 7. 3 Electric Boat . 4% E1& Mus Ind ¢ Pwr & Light.. 6 Klec Pwr&Lt $6 pf. 6% Elec Pwr&Lt $7 pf. dicott-John pf(7) sineers Pub Sve. 7 Eureka Vac f‘ulOc). 9 Evans Auto P(50¢). 7 Fairbanks-Morse. 80 Fairbanks-Mrs pf 27 Fed Motor Truck 2 Fed Screw Works. 1 Fed Water Sve (A).. 23% Fid Ph F Ins(11.35) 13y Firestone (40c).... 71 Firestone pt A( 6 53 First Nat Strs(212). 15 Florsheim (A)(1).. 2 Follansbee Bros k) 10% Food Mach (a2ic).. 813 Foster-Wheeler. 55 Foster-Wheeler pf. 61 Foundation Co..... 17% Fourth N Inv(h8ic) 814 Fox Film (A)...... 2115 Freeport-Texas (2) 5 FullerCo2dpf..... 8 Gamewell Ct 5% Gen Am Investor: 73 Gen Am In pf ww 6. 30 Gen Am 'rrnsuu) 12 Gen Asphalt... 615 Gen Baking (hsac) 5 Gen Bronze 2% Gen Cable. . 4% Gen Cable (A).. 14’2 Gen Cable pf. 27 Gen Cigar (7). ..0 97 Gen Cigar pf (7)... 16% Gen Electric (60¢c). 11 Gen Elec Spe (60c). 28 Gen Foods (1.80) % Gen Gas & El (A). 103 Gen Mills pf (6).... 24% Gen Motors (1) £9% Gen Motors pf x 3% Gen Outdoors Adv.. 2 Gen Public Service.. 23% Gen Ry Signal (1) 1 Gen Realty & Util. 10'% Gen Refractories. 10 Gen Refrac ctfs. 814 Gillett Saf Raz (1). 47 Gillette Saf R pf(5) 2% Gimbel Bros. . 15% Glidden Co (1 83 Glidden Co pr pt (7) 3% Gohel (Adolf). 16 Gold Dust (1.20) & Goodrich (BF). 35% Goodrich (B F) p! 181 Goodvear T & Rub 64 Goodyear $7 pf (4) 3% Gotham Silk Hos 1% Graham-Paig 4 Granby Consol 23 Grand Union nr‘!). 28 Grant (WT) (1)... 124 Great Northern pf.. 813 Grt Nor Oreg(h30e) 25 Grt West Suz(2.40) % Guantanamo Sugar. 312 Hahn Dept Stores. . 25% Hahn Dpt Stores pf. 215 Hall W F Printing. . 25 Hamilton Watch pf. 84 Hanna (M A) pf (T) 13 Harb Walker (50¢). 115 Hat Corp (A) 1% Hayes Body 74 Hazel Atlas 59 Hercules Pw (H'A) 4814 Hershey Choc (3). 4% Holland Furnace. 5% Holland & Son (50c) 11 Houd-Hersh A j2%. <% Houdaille-Hersh B.. 43 House Fin pf (3%) 1214 Houston Oil..... 21 Houston Oil (new).. 351 Howe Sound (3). .4 Hudson Manhatt 614 Hudson Motor Car. 1% Hupp Motors. . 138 Illinots Central. 21 Illinois Central pf 48% 111 Cent Is Inl(4) 19% Indus Rayon (1.68). 49% Ingersoll-Rand (2)+ 34% Inland Steel (h50c). 28 Inspiration Copper. 2% Insur-Sh ct Md(10¢c) 51 Interboro RpTT (k). 21 Intercontl Rubber 4 Interlake Iron. 2 Int Agriculture 15 Int Agriculture 4% Int-Carriers Ltd 20¢ 18% Int Cement (h25¢). 23y Int Harvester (60c) 214 Int Hydro Elec (A). 2 Int Merch Marine. . 21 Int Nick Can (60¢). 2 Int Paper & Pw (A) % Int Paper & Pw (C). 815 Int Paper & Pw pf.. 66 Int Print Ink pf (6). 21 IntSalt (V}z) 19 Int Silver Int Silver P 24% Island Crk Coal (4) . 29 Johns-Manville.... 101 Johns-Manv f (7). 45 Jones&Laugh 7%pf Rt 6% Kans City Southern 10% Kans City South pf. 1 Kelly Spring Tire. . 5 Kelly Sp Tire 6% pf 11% Kelvinator (70c).. 16 Kennecott (h45c). 1314 Kinney (G R) pf. 13% Kresge (SS) (1). S S)pf(D).. 28% Kroger Gr&Bk 1.60 20 Laclede GasStL... 27 Laclede Gas pf 22% Lambert Co (3).s.o 5 LaneBryant....... 7 Lee Rub&Tire (50¢) 11 Leh Port Cement. .. 2% Leehigh Valley Coal. 5 $ehigh Val Coal pf. 91 Lehigh Valley R R. 64% Lehman Corp (2.40) 1114 Lehn & Fink (1%). 2214 Lib O-Ford G1(1.20) 174 Life Saver (1.60). 73 Ligg & Myers (15).. T4% Ligg & Myers B(t5) 16 Lily Tulip Cup(1%) 15% Lima Locomotive.. 11% Link Belt (60c) . 16% Liquid Carb (113 ) . 16% Lorillard P (12.20). 10 1 13 1 10 708 12 1 ‘5 60s 3 w 16 208 : 4 8 3 1 1 9 3 4 3 24 20s 7 50s 108 3 90s 1 108 308 8% I+ 040 4+ + + It 41+ 411 ++ U+ L A A ] PE ELELe > = EE FEFRIFE G EFE FEFFSESISS 1% McCrory Btrs A (k). 1% McCrory Strs B (k). 5% McCrory Strs pf (k) 3814 McIntyre Porcu (2), 79 McKeesport T P (4) 4% McKesson & Rob. .. 11% McKesson & Rob pf 1 McLellan Stores (k) 22 Mack Truck (1).... 35% Macy (R H)& Co(2) 2% Madison Sq Garden. 15% Magma Copper (2). 1% Mallison & Co...... 7% Manati Sugar (k). . 1% Manati Sugar pt (k) 4% Marancha Corp. ... 10% Man Elevm g (k). .. 514 Marine Mid1ad (40c). 17 Marlin-Rockwell(2) 8% Marshall Field. ... 4 Martin Parry 23% Mathieson Alk(1%) 30 May Dept Str (1.60) 434 Maytag Co.... 49 Maytag 1st pf (6). 26 Melville Shoe (2) 20% Mesta Mach (132).. 21 M-G-M Pic pf(1.89) 27 Miami Copper 91a Mid-Cont Pet (h50¢) 20 Montzomery Ward. 37 Morrel!(J)&Co 3. 50. % Mother Lode. 15% Motor Products. 6% Motor Whee 5% Mullins Mfg. 12% Mullins Mfg pf 4% Mo Kan & Texal Mo Kan & Texas pf. % Mo Pacific (k)..... Mo Pacific nf (k) Monsanto C (1). Midland Steet Prod. Minn-Hon B Minn Moline Pow. . MStP&SSMlisin 3% Murray Corp....... KNNA=D~S (o 5 A E T ONO LA NG ——-—® S e —a XA xR L ON I o 2. 73 127 Nash Motors (1)... 19% Nash Chat & St L. *3 Nat Acme Co.. 5% Nat Aviation.. 25% Nat Biscuit (2).... 12 Nat Cash Regz A 50c at Dept Store (k). b Nat Dp St 1st pf(k) 16 Nat Distillers (50¢) 170 135 Nat Lead (5). 15% 6% Nat Pwr & Lt (80c). 5 V¢ 24'3 Nat Steel (1). 10 Nat Supply Co. 831 Nat Supply pf. 9 Nat Tea (60c) fv 4 Neisner Brothers.., ewberry (JJ)pf(7) wport Industries N Y Alr Brake. . ew York Central.. Y Chicago & St L, 16 NYC&StLpf.... 6 NYN H& Hartford YNH&HDI.... 4y Y Untario & West 91a N Y Shipbldg (40c). 73 NY Steam pf (6).. 30% Noranda Mines (h2) 2% North Am Aviation. 10% North Amer (1).... 34 North Am Co pf (3) North Am Ed pf (§) orthern Pacific. . . orwalk Tire&Rub. 153 85 Ohio Ofl (ha5c). ... ‘ 2 Oliver Farm Equip. 27% 9 Oliver FEqprof A, 14% 5% Oppenheim Collins, 19% 1215 Ouis Elevator (GUC). % 3% Otis Steel. 25 9 OtisSteelp 30 60 Owens-in Glass (0 6% 1% Pacific Coast.. 6l 2 Pacific Coast 2d 234y 12% PacificG & E (13). 37 20% Pacific Lizhting (3) 34 19 Pacific Mills (h50c) 86 69 Pacific Tel & Tel (6) 116 103 Pacific T & T pf (6). 6% 2% Packard Motor..... 21% 7 Panhandle P& Rpf 5% 1% Par-Publix ctfs(k). 214 Park Utah.... 14 Parmelee Transport 1 Pathe Exchange. .. 10% Pathe Exchange(A) 932 Patino Mines. 1 Peerless Motor. 44% Pennick & Ford 51k Penne¢ (JC) 1 17 Penn Coal & Coke 27 Penn Dixie Cement. 124 Penn-Dixie C pf(A) 0% P’enn R R (h1)..... 33 Peopies Druz S 149% Feoples Gas Chi. 18 Pere Marquet pr pf. 91, Pet Milk (1)....... 814 Petrol Corp (hi(e). 134 Phelps Dodze(hisc) 24% Phila Co §6 pf (3)... 3% Phila & Read C& 1 113 Phillp Morris (1)... 7 Phillips-Jones Corp 48 Phillips-Jones pf 7. 13% Phillips Petrol (1), 3, Plerce-Arrow (k)... % Pierce Ol = % Pierce Petroleum..., 1814 Pillsbury Flour1.60. 415 Pitts Screw & Bolt. 15 Pitts Steel pt 83 Pitts Term Coal pf. 1% Pittston Co.. . % Plymouth Oil g75¢ 10%s Postal Tel & Ca pf.. 1% Pressed Stl Car (k). 5% Pressed Stl C pf (k) 331 Proc & Gamb (112). 117 1021 Proc & Gam pf (5. 5 15 PubServNJ (2 67 Pub Serv N J pf ( 78 Pub Serv N J pf (6). 871% PubServ N J pf (7). 35% Pullman Inc (3)... 6% Pure Oil vaee 49 Pure Oil pf. %% Purity Bakeries (1) 13 1ivs 09% 14% 80 19% 9% 55% 46 4% 24% a3 56% 6 41 Radio Corporation, 23% Radio Corp pf (A).. 15 Radio Corp pf (B).. 1% Radio-Keith-Or (k) 7% R R Sec 111 Central. 1415 Raybestos: 35% Reading (2) 1% Reis (Rober: 6 Remington-Ran 32% Remington-R 1st pf 30 Rem Rand 2d pf 2 Reo Motor Car. 10 Republic Steel . 331 Republic Steel pf. 5 Revere Copper. 15'% Reynolds \lemls(l) 615 Reynolds Sp (40¢). . 53% 39% Reynolds Tob B (3). 33% 20% Roan Antelope Lid. —— 57 381 Safeway Stores (3). 108 84% Safeway Strs pf (6) 113% 98% Safeway Strs pf (7) 1 27 15% St Joseph L (h30c). 2T% 16 4l 4514 45 1u8% 108‘/- mgx 11% = % -% 32 Sec Nat 4% Servel I 38'% Sharp & 6% FEF EFF FaEE 123 Socony-" 20 So Por I.| 10% South € 14'» Southe 30 Spng % Sparks- 3 19 Spiegel l’l‘/. Stand B fr.fl‘) 12 87 Stone & 10 100 Sun Oil 1% Superio 4% Superio 5 Syming 5% 13 Syming 5% Tl Telauto by 29% 431, W-". Thatch Thatche 31 Sears Roebuck. 1% Second Nat Invest., 514 Sharon Steel Hoop. Shattuck (1'G) 25¢.. 6 Shell Unlor. Oll. . 57 Shell Unio 1 0il pt.. 8 Silver K 814 Simmons ¢ T Simms Pe 6 Skelly Oi' 1834 Sloss-Sh: ffeld pt 3 6% Snider P:.cking.. 7 9 ’-1 86 Solv Am pt ww 5% ‘n Pacific. 11's Southern Rail 14 South:rn Rwy pf.. Chifnt pf (j1). pear & Co 1st ptf. . Invpf (i2). ne. Dy (3%). Lower. BY VICTOR EUBANK, Associated Press Financlal Writer. NEW YORK, January 4.—The stock { market responded with irregular price CM40e Croin W ‘ac (60e) . +1% ico Sug (2) n alfid (1%). ay.. % o % 5 Withington % +7 1.60 +1% c) e Spicer Mfg pf (3).. -May-Stern, 17% Stand Brands (1).. rands pf (7) % | ha bl&nd Qilof Cal (1) and Oil Exp pf(5) 3% Stand Ol of Ind (1) 89 S1and O NJ(11%4) (hi0c). rod(3.80). 134 Sterhing Secur (A). Stewart- Warner. Webster. 1% Studebaker (k) Studebaker pf (k). . bt (6) 11' Superheater (30c).. rOil.. r Steel ton. .. ton (A).. +4+10 ———— zraph (1) MIZ (hZic). I Thompson Tide Water Tide W Tiniken Timker Apt Iransamerica hie Pransue Con & Willia U Corp Trico 'rod (11;).. 357 Un Carbide & C 1.10 11!z Un Oil of Calif (1). 90 CUnion | "acitic (6) 15% Un Tank &' United Arrcraft. . 31 United Air Lines&T 21% Unit Biscuit(1.60). United C. arb (2 40) United Corporat te United C orp pt (3). 9's United Drug. .. W United Elec Coal. 59 Unit Pie United Fruit (3). sImp (120) Imp pt (3) ce Dye Whs Gypsum (1)..., Indus Alcohol 5% US Lea 7 US Lea 15% U 8 Pipe & F (50c). 4 USRea 11 244 U S Rul ther.... ther (A) i ity & Impr. U S Rubber... sber 1st pf 96% U S Smelt & R (h9). 9% United States Steel. 67% U 99 U S Tot 112% Unv L 4'¢ Univ pi 1z Util Pw Vanad Van 10 59% Va-Car va El 84 S0 [ @ 1INV 6y a4 2% Warner 15 arner 3% Warren 8 Warren 1313 Warren 15% Wesson 5213 Wesson 45 78 16% Weston 53 414 Woolwo 16% Wright 22! i 22% 533 59% You 5% Zonite b 11:00 A.M. 147 1:00 P.M. 51% declarations. % e I e'pn’g:bl‘e"n ¥ 124 1121 11214 + 15 17% 16% 17 Y stock b Plus 2% in wsh (k) .. S 2% Wabash pf (A)( 1t Wabash pt B (k Waldorf Sys ( ) 17! Walgreen Co (m1). 2% Walworth Co....... 24 Ward Baking 1 Warner- West Pa Elec pt (6) 51% West Pa Elec pf (7) West PennPw pf(6) Western M 45, Western Pac 29'3 Vwestern Union. ... 5% Westinzh'se AB 50c 277 Westinghouse Elec. 14 W estvaco Chl (40c) 24'; Wheel & Lake 2 Wilcox 0il & Gas. 43 Wilson & Co..... 1214 Wilson & Co (A) Wilson & Co pf (j7) 13 Worthington Pump % Worth Pump pf B.. 14 Yale & Towne (60c) 2% Yellow Truck. Youngstown S& T 34 Y'gst'n S&T pfAs 1% Zenith Radio. . Sales of Stocks on the N:w York l:xchmge Dividend rates as given in the ahove table are cash payments based On the iatest QuArterly or Dulf-yearly .Of trading less th i 0 1ng less than 100 shares v Partly ext dividends paid this eat or being reorganized. stocl S Steel pf (2). aceo ( af Tob pf(§) pe & Rad pt r& Lt(A).. hem (72.40) . rChemical.., Va-Car Chemn 6% Che Pwr f (2) Bros Pic... Bros Pic pt, Quinlan. Bros 8 4 1 Br . . = 1 S O&S 78 3 O&Spfi4) E! rth (2.40).. Aero. .. Sp & W (1) 197 46y roducts. 1y 260,000 640,000 the annual 5 Pus s Accumiiated PlusS] in special preferred k Compantes reported in seceivership m Plus 8% " T Gividima® Colte tock: " Patg (b S his. vea h or stock 3 By the Associated Press. NEW YORK, January 4.—Cotton was quiet today and prices moved within a comparatively narrow range. The President’s message was carefully studied, but it was without immedi- ate effect on the market, which re- mained quiet after its appearance. May contracts which had sold up from 12.73 to 12.78 during the morn- ing were ruling around 12.75 in the mid-afternoon market, which was helding within a point or two either way of yesterday's closing quotations. Liverpool Quotations. LIVERPOOL. Janury 4 (#.—Cotton, 4.100 bales. all American. Snm good busi- ness done: ‘prices points higher: quota- tions in pence: ~Amierican strict good mid; low mid 6.68: good ordinary. dy. Ja ‘West Virginia Pulp & Paper Co.— Preferred share earnings, year ended October 31, were $4.28 vs. 51 cents. RAILROAD CREDIT CORP. RETURNS 28 PER CENT The Railroad Credit Corp., accord- ing to report as to its financial con- dition filed today with the Interstate Commerce Commission, has, through liquidating distributions since termi- nation of iis lending period on June 1, 1933, returned $20,627,178, or 28 per cent of the net emergency freight Tevenues collected by it. Of this amount, $9,097,729 has been In cash and $11,529,449 in credits on obligations due the corporation. Of the 13 liquidating distributions made by the Railroad Credit Corp., nine distributions amounting to $13,- 201,185, or 18 perycent of the net fund, were made in the calendar year of 1934, the last one having been made on December 31 in the amount of $735,993, or 1 per cent. e American Beverage Corp.—Net in- come, year ended November 30, was $24,572, equal to 18 cents & common share vs. deficit, $27,027, WHEAT EXPORTS LARGER. NEW YORK, January 4 (#).— Wheat exports from the United States and Canada during the week ended December 29, totaled 1,693,176 bushels compared with 1,315,177 in the pre- ceding week and 2,969,374 in the same week last year. PLANS NEW CAN PLANT. NEW YORK, January 4 (#).—Conti- nental Can Co., Inc., will erect a new | plant at Elwood, Ind., at a cost of approximately $500,000, it was an- nounced today. The new factory is expected to be completed and in operation in iime for the next canning season. — SAVANNAH NAVAL STORES. SAVANNAH, January 4 (®.—Turpentine firm. 471; sales. 1 eceipts. 109; ship- "‘!a(-u\'ity dwindling appreciably =%l + | changes to the Piesident’s message at | the opening of Congress today. Raiis % | displayed firmness, while metals, utili= | ties and others drilted lower. Santa Fe, Pullmin, and Union Pacific got up a poini or more, but losses of i similar proportions were shown by | American Telephone, Cerro de Pasco, United ates Smelting and Case. { United States Steel eased. Transfers approximated 1,000,000 shares. Stocks backed and filled somewhat | nervously during the early hours, with Just set for deliverance | of the Chief Executive's message. A | number of the rails firmed on the belief that, when the national legis- ! lators get down to work, they will do ung for the harassed carrier Considerable profit taking, however was evident In various issues that e recently been moving ahead s attracted a modest follow- ing with May wheat at Chicag edging up to the dollar mark before shipping back a tri The other B proved, b ations of | before the time fractions to around a stered by Union Pacific, , Canadian Pacific, and Pullman. Simila: wn by Liggett & My B, American Tobacco B, National B cuit, American Commercial Alcohol and Douglas Aircratt Losers of major fractions or more included cu Po Can, Radio Pre ville, United State: Pasco, An Telephone Among sha | lower w lehem | point were re gains were to & point . American ferred B, Johns " American » American. anged to a bit s Steel, Beth- General Motors, , National Dis- Consolidated Gas and Ameri- can Roliing Mill. While expres interes n th expected to be | ess Monday, will be of much more importance to the mar- ki It was believed this would con tain the administrat detailed pro- gram of spending for relief and recov- ery during the coming fiscal year, budget ed to Associated Press, {actor: 3 b; { ish, May 99 14 lower to 1} ! advanced \Ia\ 89 5. O unchanged to higher, and provisions varying from 5 cents decline to a rise of 10 Chicago Cash Wheat, No. 2, hard, 1.08:; corn. No. 3, yellow, 94: No. 4, white, 90; No. 2, white, 59: no rye or : soy beans. No. 2, yellow, net track country station; bar- 74-1.22; timothy seed, 16.50- | 1775 Cwt.; clover seed, 15.65-22.90 e Market. 1.19, Liverpool LIVERPOOL. futures closed fir Prices. =V Hygrade Food Products Corp.—Def- was $219.- of $55981 in year 1933, deficit ended October Avplications invited for Loans on apartments. business and residential Droperties. Tyler & Rutherford. Inc. Mortgage Loan Correspondents Mutual Benefit Life Insurence Co. 1520 K St. NW. Na. 0475 Desks WE Steel Files Tables SERL Steel Cabinets Chairs EXCHANGE Office Fauipment Office Furniture BAUM’S 1416 Eye St. N.W. NAtional 21818, Second Trust Notes We will buy monthly pavment de- ferred purchase money second trust on owner occupied ings in District of Columbia. Union Finance Co. 916 Woodward Blde. Natl. 7936 for Nearly a Century (Since 1858.) 1107 Connecticut Avenue ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St. & Indiana Ave. N.W. LOANS On Improved District of Columbia Real Estate Security 73rd series of stock now open for subscription