Evening Star Newspaper, January 25, 1935, Page 16

A—16 *¥+ D.C. STORES SHOW 600D COLLEGTIONS Capital Firms Lead Fifth District With Stock Turnovers. BY EDWARD C. STONE. Collections in Washington depart- ment stores in December were excel- lent, according to the monthly detailed report on retail trade received from the Federal Reserve Bank of Richmond this noon, 29.1 per cent of receivables due on the first of the month being paid. This compared with 32.9 per cent in Richmond stores, 30.1 per cent in Baltimore and 30 per cent as the average for the entire fifth district. The report covers 31 department stores. Retail stores in this city led the fifth district in the number of times stocks were turned over during the full calendar year, being 4:287 against 4.194 in Richmond, 3.767 in Baltimore and 4.007 for the entire district. The December turnover in Washington was 0.67 against an average for the whole district of 0.609 times. Retail stores in the Capital made by far the best percentage gains in December sales, an advance of 21 per tent being compared with 14.8 per cent in Richmond, 12.1 per cent in Balti- more and 16.5 per cent for the average in the entire territory. The same is true for the full year, although a group of stores in several smaller cities revealed a gain of 21.4 per cent for 1934, Washington sales were up 20.3 per cent, Richmond 185, Baltimore 12.7 and in the whole area 17.3 per cent. At the end of December stocks in the stores in this city were 4 per cent lower than on the same date in the previous year. Stocks were 21.7 per cent lower in the stores here at the end of December than at the close of No- ‘vember, reflecting the tremendous drain on goods during the final days of holi- day trade. In the entire fifth district stocks were 21.8 per cent lower than At the end of November, the Richmond report says. ‘Wholesale Business Spurts. Wholesale business in hardware topped the demand for groceries, dry goods, shoes and drugs in the fifth Federal Reserve district in 1934, ac- cording to the yearly summary an- nounced today by the Federal Reserve Bank of Richmond. Hardware sales bounded upward by 26.8 per cent in 1934, compared with 1933. Dry goods sales came nexf with a .plendid ad- vance of 24.8 per cent, with groceries sales up 17.3 per cent and the shoe demand up 6.2 per cent. Drugs gained 37.4 per cent. December sales, compared with De- cember, 1933, revealed gains in all five wholesale lines. Groceries were up 83 per cent, dry goods 4.5 per cent, shoes 17.2 per cent, hardware 3.7 per cent and drugs 3 per cent. December sales, as compared with sales in the previous month of No- vember, all showed decreases, reflect- ing the let-up in demand for holiday goods. Groceries slumped 8.4 per cent, dry goods 47.2 per cent, shoes 516, hardware 18, and drugs, 9 per cent. In December wholesale stocks of groceries were 19 per cent larger than & year ago and hardware stocks were 7.4 per cent higher. Dry goods stocks were down 18.1 per cent, and shoe stocks, 17.6 per cent. At the end of December groceries stocks were 10.5 per cent lower than at the end of November, dry goods were off 5.3 per cent, shoes 9.1 per cent higher and hardware 8 per cent higher. The Richmond bank report closes with a glowing report on collections in wholesale lines during December. Of the receivables due on December 1, wholesale hardware collections to- taled 84.7 per cent, dry goods 41.6 per cent, shoes 61.1 per cent, hardware 48.4 per cent and drugs 61 per cent, the information for all these impor- tant summaries being furnished by 58 firms doing business in the five wholesale lines mentioned. The sta- tistics show beyond any doubt that a real dent was made in the depression during 1934 in this trade area. Delmar Heads Corporation. ‘The annual meeting of the stock- holders of the Lincoln Service Corp., industrial Bankers, was held in the home offices in the Woodward Build- ing yesterday. The following di- rectors were elected: Ellsworth C. Alvord, David Burnet, William J. Byrne, Francis J. Crilley, William 8. Culbertson, Charles Delmar, H. Rozier Dulany, jr.; John P. Jackson, L. E. Pope, Rowland C. Ringgold, Frank B. Severance and Durand W. Springer. At the directors’ meeting the fol- lowing officers were elected: Charles Delmar, president; Francis J. Crilley, vice president; L. E. Pope, vice presi- dent; Durand W. Springer, secretary and treasurer, and William M. Mon- Toe, assistant secretary and treasurer. The board reappointed John H. Ver- kouteren auditor and Alvord & Alvord general counsel for the corporation. The directors declared the regular semi-annual dividend of 3! per cent on preferred stock payable February 1 to stockholders of record December 31. The corporation recorded a sub- stantial increase in its business for the year 1934 over 1933, amounting to 123.7 per cent. Bonds Strong on Exchange. Capital Traction 5s, which have re- cently been in unusually good demand on the Washington Stock Exchange, made a new high in today’s trading. On a single $500 sale they reached 92 for the first time on the present move. T}]l‘ey closed with 91!, bid and 93 as] Washington Railway & Electric 4s led today's market in volume, They figured in four $1,000 transfers at 100, off half a point from the one $1,000 sale made yesterday. They closed with 100 bid and 1007 asked, a very small spread. The only stock sale today was in Potomac Electric Power 5, per cent preferred. A 5-share lot moved at the strong price of 112}5. This price was also a new high mark for 1935, American Fire Insurance stock, Corcoran Fire Insurance, Emerson’s Bromo-Selzer “A” and Washington Gas Light have been added to the list of issues which are soon to pay regular FINANCIAL. THE EVENING STAR, WASHINGTON, D. TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE)| All markets received by private wire direct to The Star. #:30 »m. 1034 — High. 1174 34% 13 23% Tih 160% Stocks and Dividend Rate, 6 Adams Express. 16 Adams Millis (2). 91% Alr Reduction (3).. 16% Alaska Jun (1120). 2% Albany Wrap Paper 115% Allied Chem (6) 103 Allls-Chalmers. 11% Alpha P Cem (a25c 39 Amerada Corp (2).. 25% Am Ag Chem Del(2) 11% Am Bark Note..... 40 Am Bank Nte pf (3) 1914 Am Brake Shoe 80c, 96 Am rrake Sh pt (7) 90%4 Am Can (15).. 4 126% Am Can pf (7) W 12 AmCar& l-uunury. 4% Am Chain 2% Am Colortype... 20% Am Conicl Alcohol €15 Am Crys 6% Am Crystal Sug pf. » Am & Forelzn Pwr. Am & For Pw pf (1) 6% Am & For Pw 2d pf. 31 Am Hide & Leather. 17% Am Hide & Leath pt 6% Am Home Prod 2.40 3 AmlceCo.. . 25% Am Ice pf (6). 4% Am International. % Am La France (k) 3% Am La Fran pt (k) 141y Am Locomotive. ... 3515 Am Locomotive pf. 12% Am Mch&Fy(80c)., 3% Am Mach & Metals, 3 Am Power & Light. 9% Am P&L $5 pf (1%4) 11% Am P&L $6 pf (1%) 10 Am Radiator 111'_ Am Radiator pf (7). 184 Am Rolling Mill % Am Ship & Com, 80l Am Smelt & Ref 71% Am S&R 6% pf (33). 100 Am S&R 7% pt (7)., 10% Am Steel Foundry., 37 Am Stores (123§)... 46 Am Sugar (2).... 1034 Am Sug pt (7) 13% Am Sum Teb (1) 100% Am Tel & Tel (9). 13 65% Am Tobacco (5). 67 Am Tobacco B (5) 7% Am Type Fdrs pf (k) 12% Am Water Wks (1) 7 Am Woolen. 86 Am Woolen p! 10 Anaconda Copper.., 4% Andes Copper. .. 2614 Archer-Dan-M (1).. 764 Armour Del pf (7)., Sy Armour of (llinols 54 Armourof [l pt.... 46% Armour 111 pr pt (6) Tl Asso Dry Goods.. .. 46 AssoDry G 1st pf j3 45% Atch To& S F (nZ). 24' Atlantic Coast Lin 21% Atlantic Ret (1) 51 Atlas Tack.. 16! Auburn Auto 391y Austin Nich pt Ms) 8% Aviation Corp Del. 4l Balawin Loco. 16 Baldwin Loco pf dividends. Heard in Financial District. Richard Whitney, president of the New York Stock Exchange, was in the city yesterday, conferring at the ‘Treasury with Undersecretary Cool- idge. He said the call related to per- sonal matters and had nothing to do with the Exchange. The American Stores Co., which operates 38 stores in the Capital, has declared the regular quarterly divi- dend of 50 cents per share, payable April 1 to shareholders of record March 15. A 6 per cent dividend has been de- clared by Federal Employes, Local 262, Credit Union. Total assets at the end of 1934 were $22,059, an in- crease of $3,677 in the last quarter. Tennessee Electric Power Co.—1934 preliminary preferred share earnings were $7.82 vs. $8.05. ) 12% Baltimore & Ohio. . 15 Baltimore & Ohio pt 164 Barker Brothers pt. Barnsdall Corp. Bayuk Cigar (h1). 10% Beatrice Creamery. 87 Belding-Hem (h50c) 94, Bendix Aviation.... 12 Beneficial Loan 1%. 26 Best& Co (2)... 24 Bethlehem Steel 5474 Bethlehem Stl pf. 15% Bigelow-San Corp 6 Blaw Knox 88 Bloomingdale pf (7) % Boeing Aeroplane. . 4413 Bohn Alumn& Br(3) 19 Borden Co (1.60)... 164 Borg Warner(t1%) 12 Briggs Mfg (2).... 26 Bristol-Myers 12.40 46 Bklyn Union Gas(5) 3's Bucyrus- 6 Bucyrus-Eriecv pf 50 Bucyrus-Erie pt (2) 16 Budd (E G) M1g pf. 2 Budd Wheel.... 57% Bullard Co 1%5 Burns Bros 4 Burns Bros pf. 10% Burr Add M (60c). 1% Butterick Co.... 326, 15% Byers (A M).. 67% 40 Byers (A M) pf.... 44% 65 29% 18% 39 b6% 03 $8% 44 5% 4 18% California PKg(1%) 2% Calumet & Hecla. .. 12% Canada Dry G A (1) 107 Canadian Pacitie. .. 26% Cap Admin pt A (3) 8o Case (J 1) Co 56'4 Case (J 1) pt 23 Caterpillar (t1)..ee 17% Celanese Corp. 114 Ceotex Co (K) 1 Celotex vie (k) 6% Celotex o pf (K).. 53 Central RRofNJ.. 514 Century Rio Mills., 280% Cerro de Pasco (2).. 8% Certain-teed Prod. .. 17% Certain-teed pt 34 Ches-Corp (2%). 1% Chi Great Western.. 2 ChiMil St P & Pac.. 8% Chi Mil St P &P pf.. 3% Ch: & Northwestern 3% Chi Pneumatic Tool 14% Chi Pneu Tool pt... 2 CRI&P6% pt (k) 9% Chi Yellow Cab (1) 19% Chickasna C O (2). 29% Chrysler Corp (1).. 17% City Ice & Fuel (2). 67 City lce& F pf 6. % City Stores (k).... 3 City Stores ctfs (k) 50% Coca-Cola (A)(3).. 9% Colgate-P P (50¢).. 10 Collins & Alkman. . 74 Collins & Ak pf(7). 3% Coto Fuel & Iron(k) 10% Colo Fuel & Ir pf (k) 13 Cole & Sou 1st pt 6% Col Gas & Elec. . 52 ColG&Elpf A (6). 58 Colum Carb (3.40).. 18% Comel Credit (2)... 38 Comcl Credit(A)(3) 91% Comecl C 18t I(6%) 24 Comel Credit(B)(2) 35% Comcl Inv Tr(12%) 91 Comel Invcv pf(e6) 15% Comecl Solv (60¢) 1 Comwith & South. 213% Comwith & S pf (6). 22 Congoleum-N (160) 1% Consol Film....... 10% Consol Film pf (§2). 18% Consol Gas N ¥ (1). 71 Consol Gas pt (6)..s 7% Consol Oll (h42c) ... 2% Consol R R Cuba pf. 6% Container Corp (A). 2% Contatner Corp (B), % Contl Baking (B). 56% Congl Can (2.40)... 6 Contl Diamond Fib. 23% Contl dnsur (11.36). % Contl Motors 15% Contl O Del ¢ 40% Corn Ex Bk & Trl!) 55% Corn Prod Ref (3).. 3% Coty Inc. .o 28 Cream of Wht 12%. 8 Crosley Radio.....e 3% Crown-Zellerback. 17 Crucible Steel. 3% Cuba R R pf. 20% Cuban-Am Sugar Dl 13% Curtis-Publishing.. 43% Curtis Pub pf (7). 2% Curtiss Wright. .., 5% Curtiss Wright (A) 11 Cutler Hammer 6 Davega Strs (al0c). 10% Deere & Co........ 10% Deere & Co pf (40¢) 35 Delaware & Hudson 14 Del Lack & West... 63% Detroit Edison (4).. 29 Devoe& R (A)(12). 21 Diamond Match (1). 281 Diamond M pf (1%) 32 Dome Mines (1334 ). 11 Dominion Strs(1.20) 144 Douglas Afreraft... 80 Du Pontde N (2.60) 12815 115 Du Pont deb (6).... —_— 12% 4% Eastern Roll Milis. 116% 79 Eastman K (14%).. 221 12% Eaton Mfg (1).. 313% 15 Electric Auto Lite.. 110 80 Eiec Auto Litepf 7, T% 8 Electric Boat, 9% 4% El & Mus Ind 8% 2% Elec Pwr & Ligl Bales— Add 00. High. Low. Close. Chge. 4 64 6% 1 81% 814 3111 8 17% 174 3 8% 2136 135% 16% 18 534 56% 16 49 27% 120'4 1134 164 17% 121 114% 154 18 9% © -3 3 B I 1O IS O @ et S 1O b s @ rom ¥ NomO~e cEeerSonroumroheaen [ " -5 " - -8 S w OB NG B0 i PO IC i O e N D 00 X O % % 128 128 i T % 2114 114 3 20% 19 2 Net % 81% + % 110% 111 17! 114% + % Pl 4+ FEL FEIEFFE I 50% + 6% + 12 +14 FESETFE b2k 1% 9% + % 34 156 + w 13% - W 35% b65% + % 94y ~14 8% + & 8l v 3 2 20 48 -1 10% — % 0% + W 5l = 3 FFEREFFR 12 + 4% 2% % + % 128 % - % 114 2:30 pm. Stock and Bales— Dividend Rate. Add 00 Hllh. Elec Pwr&Lt $6 pf. 6% Elec Pwr&Lt $7 pf. 84 Elec Stor Bat (2). 45 Endicott-John (3).. 5 Equit Office Bld...« 9% Ertle R R 27% 9 EvansaA 10% 3 Exchange Buffet... —_—— 12% 8% Falrbanks Co pf.... 18% 7 Fairbanks-Mors: 2 34% Fed Lt&Trac D!’(G). 1 Fed Water Sve (A). 20 Fed'd D Stores (11) 23 Filene's Sons 11.20., 13% Firestone (40c).. 53 First Nat Strs(2%). 2 Follansbee Bros (k) 10% Food Mach (a25c).. 814 Foster-Wheeler. ... 17% Fourth N Inv(h85c) 8% Fox Film (A)...... 213 Freeport-Texas (1), 14 Fuller Coprpf..... 5 Fuller Co2d pf..... 1034 = High. Low. 19% 6 21 52 63 10% 24% 46% bd% 13 10% 201 60s 2 40s 3 19% 11% 5% Gen Am Investors.. 43% 80 Gen Am Trans(1%) 28% 12 Gen Asphalt...... 14% 6% Gen Baking (60c) 104 6 Gen Bronze. 83 14% Gen Cable pf. 20s 130 16% Gen Electric (60c). 107 24 % 8 8 u7 17 ] Net Low. Close. Chi 6% 6% + Th % + 45% 46% — ba% 5 10% 19% % 86% 17° 6% 6% 4 26% 26% — 67 67 180 130 2315 237 + 11632 11632 Gen Elec spec 211332 11332 11 332"* 4 4% 7. % 3 6% 42 3% 5112 28 Gen Foods (1.80)... % Gen Gas & El (A) 61 Gen Mills (3). 24% Gen Motors (1). 89% Gen Motors pf (6).. 2 Gen Public Service., n Ry Signal (1).. n Ry Signal pf(6) Gen Realty & Util... 8% Gillett Saf Raz (1). 47 Gillette Saf R pf(5) 2% Gimbel Bros... 16% Gimbel Bros pf. 156% Glidden Co (t1. li).. 83 Glidden Co pr pt (7) 3% Gobel (AdoIf)....es 16 Gold Dust (1.20). 8 Goodrich (BF).. 18% Goodyear T & Rub., 64 Goodyear $7 pf (4) w 1% Graham-Paige. 4 Granby Consol. 4 Grand Unton. 23 e S - - [ 12Y% Great Northern vt.. 815 Grt Nor Oreg(h50c) 25 Grt West Sug(2.40). % Guantanamo Sugar, 12 Gulf Mobile&N pf.. 203 Hackensack W(134) 31y Hahn Dept Stores 25% Hahn Dpt Stores pf. 313 Hall W F Printing... 84 Hanna (M A) pt (7) 13 Harb Walker (50¢c)s 3 Havana Elec Ry pf. 74 Hazel Atlas Gl (5).. 59 Hercules Pw (13%) 48% Herskey Choc (3). a 83 Hershey C pt (15).., 4% Holland Furnace... 5% Holland & Son (50c) 11 Houd-Hersh A (j2)+ 2% Houdaille-Hersh B 35% Howe Sound (3).... 4 Hudson Manhattan, 6% Hudson Motor Car.. 1% Hupp Motors. - > PR RO -E GaNRCO RN AARE NS A MEEH SRS OA NS ANGGS G REeIB o - s e 12% 4% T 38% 50 32% 56 6% 17% 5% 6 3T% 164 - 13% Illinots Central..... 21 Illinois Central pf.. 19% Indus Rayon (1.68). 34% Inland Steel (h50c). 2% Inspiration Copper. 6% Interboro RpTr(k). 21 Intercontl Rubbe: 2 Int Agriculture 15 Int Agriculture pf., 131 Int Bus Mach (p§).. 12% 4% Int-Carriers Ltd 20¢ 37% 18% Int Cement (h25¢). 467 23% Int Harvester (60c) 137 110 Int Harvester pf(7) 9% 2% Int Hydro Elec (A). 29% 21 Int Nick Can (60¢). 6% 2 IntPaper & Pw (A) 2% % Int Paper & Pw (C) 24% 8% Int Paper & Pw pf.. 100 66 Int Print Ink pt (6) ;.| 2 Int Rysof Cent Am 84% 59 IntSilverpf (4).... 7% Int Tel & Tel 24% Island Crk Coal (4). —_— 57% 33 Jewel Tea (3).e.uen 66% 39 Johns-Manville. 45 Jones&Laugh 7%pf —_— 13% Kayser(J)&Co h50c. 1 Kelly Spring Tire. 3 Kelsey-Hayes (A 118 Kelvinator Cp 50c 65% Kendall Co pt (6) 16 Kennecott (h45¢c) 13% Kresge (SS) (1) 36 Kress (S H)(f1)... 234 Kroger Gr&Bk 1.60. —_—— 6313 20 LacledeGasStL... 60 27 Laclede Gas pf. . 223 Lambert Co (3 7 Lee Rub&Tire 1506) 21 Lehigh Valley Coal. 5 Lehigh Val Coal pf. 9% Lehigh Valley R R. 64% Lehman Corp (2.40) 11% Lehn & Fink (1%). 221 Lib O-Ford G1(1.20) 17% Life Saver (1.60)... 73 Ligg & Myers (15).. 74% Lige & Myers B(15) 11% Link Belt (60c).... 16% Liquid Carb (11%). 20% Loew s Inc (1). 1% Loft Inc 33% Loose- W! 15% Lorillard P (12. 130 102 Lorillard (P) of ('l) 21 12 Louisv GEE(A)1%. 62% 37% Louisv & Nash (2).. 19% 8% Ludlum St 124% 63% 6504 9% 42% 17 41% 62% 23% 9% e e [ EP TS 1% McCrory Strs A (k) 5% McCrory Strs pf (k) 38% Mcintyre Porcu (2) 4% McKesson & Rob... 11% McKesson & Rob pt 1 McLellan Stores (k) 22 Mack Truck (1) 35% Macy (R H)& Co 15% Magma Copper (2). 1% Manati Sugar pf (k) 10% Man Elev m g (K)... 4% Marancha Corp.... 5% Marine Midld (40c). 1% Market Street Ry.. 17 Marlin-Rockwell(2) 8% Marshall Field. .... 233 Mathieson Alk(1%) 80 May Dept Str (1.60). 26 Melville Shoe (2) 24 Mengel Copf... 20% Mesta Mach (13%).. 2% Miami CODPer. ..o 6% Midland Steel P 44 MiaStl Pistpf M). 1% Minn Moline Pow... 15% Minn Moline Pow pf 4% Mo Kan & Tex 2% Mo Pacific pf (k. 89 Monsanto C (1) 20 Montgomery 37 Morrell(J)&Co % Mother Lod 6% Motor Wheel. 5% Mullins Mfg. 12% Mullins Mfg of. 13 Munsingwear Inc 3% Murray Corp......: 12% Nash Motors (1). 3% Nat Acme Co. 5% Nat Aviation. 26% Nat Biscuit (2).... 12 NatCash Reg A 60c 13 Nat Dairy Prod 1.20 1 Nat Dept Store (k) 5 Nat Dp St ist pf(k) 16 Nat Distillers (60c) 6% Nat Pwr & Lt (80c) 6% Neisner Brothers. .. 17 Newberry (J J)(1). 92 Newberry(JJ)pf(T) 18% New York Central, ., % N Y Investors (k).. 6 NYNH & Hartford 104 NYNH&Hpt 915 N Y Shipbldg (40c). 73 N Y Steam pf (6).. 45% 80% Noranda Mines (h2) 187 161 Norfolk & W (+10). 8% 2% North Am Aviation. 25% 10% North Amer (1).... 45 84 North Am Co pf (3). 4% 47% North Am Ed pf (6) 861 144 Northern Pacifio..es \i 34% % 62 3]% % - 62% — 31% + 112 + 1% B I S B I I S S | FE O Frsses ¥8 PR | 34y — 42% 34% + 27% + 3 12% = & 18% 1% ge. % % 1% 1 % L] kd % W % 1 * f:*wf ¥ FE FEFEF ".< FFEE & - FEE F FEFEIF S‘;.ii‘i-'ff—“ oz = E EF F ¥ ¥ FEF S 85% Pullman Inc (3). X 6% Pure Oil... 49 Pure Oil pf 8% Purity Baker ) 2:30 p.m. —~ 1034 — Sales— Hllh Low. 16% 3% Ohlo O11 (h4bc).... 7 2 Oliver Farm Equip.. 9 Oliver FEaprpf A, 3% Omnibus Corp. 12 Otis Elevator ( 92 Otis Elev pt (6. 3% Otis Steel. . 9 Otis Steel pr 60 s-111 Gla Stocks ard 2 1 6% 19% 108 8 256 9% 6% 2 Pacific Coast 2d.... 12% PacificG& B (1%). 20% Pacific Lighting (3), 19 Pacific Mills (h50c). 6% Pac W'n Oll (h40c)« 2% Packard Motor..... 1% Par-Publix ctfs(k). 2% Park Utah. o Peerless Motor 44% Penick & Ford (3)., b1% Penney (JC) h1.40, 2% Penn Dixte Cement, 124 Penn-Dixie C pf(A). 20% Penn R R (h1)..... 86 Peo Drug S pf (6%) 19% Peoples Gas Chi. ... 814 Petrol Corp (h50c).. 13% Phelps Dodge(h75¢) 24% Phila Co $6 nf (3)... 3% Phila & Read C & I.. 11% Philip Morris (1)... 13% Phillips Petrol (1) »¢ % Plerce-Arrow (k). % Plerce Ofl. - 1814 Pillsbury Flour1.60. 70% Pirelll Co(A)(h4%) 4% Pitts Screw & Bolt. 15% Pitts Steel pf...... 25% Pitts United C pf. 7% Plymouth O1l g76¢ 6 Poor & Co (B). 2% Port Ric Am Tob A. 10% Postal Tel & Ca pf.. 1% Pressed Stl Car (k). 5l C pf (k) 33% Proc & Gamb (1%). 1024 Proc & Gam pf (5). 25 PubServ NJ (2.80), 67 Pub Serv N J pf (5). 87% PubServ N J pf (7). » 9 ceaanTanernoEBeraanonmarRemna - o 3 5e 4% Radio Corporation.. 23% Radiopf A (3%)..0s 15 Radio Corppf (B).. 1% Radfo-Keith-Or (k) 35% Reading (2)......e 6 Reminzton-Rand. . 32% Remington-R 1st pt. 2 Reo Motor Car 10% Republic Steel. 331 Republic Steel pf 151 Reynolds Metals 39% Reynolds Tob B (3). 5% Ritter Dental. . 28% Royal D(h1.35 8- 88Y Safeway Stores (3). 843, Safeway Strs pt (6) 9813 Safeway Strs pf (7) 15% St Joseph L (h30c).. 1% St L San Fran (k).. 17% Schenley Distillers, 15 Schulte Re Strs pf. % Seaboard Air L (k). 31 Sears Roebuck.. 32 Sec Nat Inv pf (j2). 4% Servel Inc......... 5% Sharon Steel Hoop. 4 Sharp & Dohme.... 6% Shattuck (FG) 25e.. 6 Shell Union Ofl. ... 57 Shell Union O1l pf.. 8 Silver King C M 40c 8% Simmons Co Tl Simms Pet rolm(1). 6 Skelly Ofl. 6% Snider Pa 1215 Socony-Vace (60c).. 20 So Por Rico Sug (2) 10% South Cal Ed (1%4). 14% Southern Pacific. .. 113 Southern Railway. 5 Spalding (A G).... 30% Spalding(AG)1st pt 2 Sparks- Withington 15% Spencer Kellog 1.60 % Sperry Corp (25¢).. R0s 17 1408 2 19 Spqerzel -May-Stern. 17% Stand Brands (1).. 3 Stand Com Tobacco. 3% Stand Gas & Elec. . 4% Stand G & E1 4% pf 104 Stand G & E1 6% pf. 13% Stand G & E1 7% pf. 7 Stand Invest Corp.. 2615 Stand Ofl of Cal (1) 9615 Stand Oil Exp pf(5) 23% Stand Oil of Ind (1) 39% Stand OIl N J(t1%) 6 Starrett L'S (h50c). Dividend Rate. Add 00. High, 5 1w 10 23% 16% 107% 107% 107% 6% 6% 6% 43 87 109'% dUl 110 Nes —~ 1034 — Low. Close. Chge. | High. Low, 10% — % 3% 3K+ W 28% 23% + W 6634 10 18% M 47 71% 3% 4% 43 41% 87 5% 3% 3% + 14% 22 6% 29% 3 5% 1% FlH I+ 000 C., FRIDAY, JANUARY 25, 1935. 2:30 Stocksand Sal Dividend Rate 474 Sterling Prod(3.80). 4% Stewart-Warner 8% Stone & Webster. 1% Studebaker (k). 10 Studebaker pt ( 51t% Sun Oil (31) 1% Symington (A). Tt Telautograph (1). 34 Tennessee Corp. 19% Texas Corp (1). 80 Texas Gulf Sul (2).. 2% Tex Pac Coal & Oll.. 6% Tex Pac Land Trust 8 Thatch Mfg (n25c). 50 The Fair pf (35%) 21 Thermoid Co 10 Thompson Pre 1% Thompson Starrett. 8 Tide Water Asso. 3% Timken-Detroit 24 Timken RB (1) 6% Transamerica(25c) 3 Tri-Contl Corp. 33 Trico Prod (2%). 36 Und-El-Fisher (2). 39% Un Bag & Paper (4) 35% Un Carbide & C 1.40. 11% Un Ofl of Calif (1).. 90 Union Pacific (6)... 15% Un Tank Car (1.20). 8% United Afrcraft.... 3% United Air Lines&T 214 Unit Biscult(1.60).. 85 United Carb (2.40). 2% United Corporation. 21% Untted Corp pf (3).. 9% United Drug.. 31 United Elec Coal. .. 59 United Fruit (3) 113 United Gas Imp Unit Gas tmp pt (5) U S Distributing. . . U S & For 1st pr (6) U S Gypsum (1).... U S Indus Alcohol 5% U S Pipe & F (50c).. U S Realty & Impr. U S Rubber..... U S Rubber 1st pt U S Smelt & R (h9). USSm&RDpf (3%) United States Steel. U S Steel f (2). U S Tobaceo pf ( United Stores (A).. Unit Stores pf(3%) 40% Univ Leaf Tob (2)., 1% Util Pwr & Lt (A) %, Vadsco Sales Corp 43 Van Raalte....... 45 Vick Chem (12.40) .. Va-Car Chemical... Va-Car Chem 6% pf 59% Va-Car Chem 7% pf 65 Va El & Pwr pf (6). 52 Vulcan Detin (a4) 4 Waldorf Sys (h2(¢c) 17% Walgreen Co (ml).. 2% Walworth Co. 2% Warner Eros Ple... 15 Warner Bros Pic nf. 3% Warren Bros...... 131 Warren Fay&P (2). FINANCIAEL, pm. les— Net Add 00. High. Low. Close. Chge. €0 % 4% 4 0% 60+ % [ " R R ae want e & aRuenmtmomam et A S ”| American Water Works, | N. Y. Central, e 14%% Westva 34 2 4%, 121 53 4l Wilcox T 47y 28 Yellow 83% % 11:00 A Dividena rates as given in the above fable are the anoual cash payments based on the latest quarterly or half-yearly declarations sUnit of !umnl 7 in stock. hPaid ePayable in cash or stock in_stock nies reported in receivership or be: stock w | Ridenes ganized. in stock ePlus_ 4% kComp mPlus % XEX d - Wheeling Steel pf.. 1% White Sewing Mch. & g | White Sew Mach pf. 22% 14 Yale& Towne (60c) 2% Yellow Truck...... 12% Youngstown S& T.. 3% Zonite Products. .. Sales of Stocks on the New York Exchange. West Pa Elec pf (6) West Pa Elec pf (1) Westingh'se AB 600 24% \ Westinghouse Elec. HJ co Chl (40c) | Uil & Gas... Wilson & Co.. Wilson & Co (A) Wilson & Co pf 117) 2 e+ N Woolworth (2.40)., 70 5: 83 | 311 Worth Pumppf A.. | 543 Wrigley (W ir)131% { 1 +1n ‘4 % 3% + B 194 @ Truck pt €,000 less than 100 shares, L Plus last year—no regu - {Partly extra S 10" special ‘preter aPaid this year JAccumul; ing T PPlus 2 Te ed . nPlus 30 in stock. Chicago Grain By the Assoctated Press. CHICAGO, January 25.—Advances in price distinguished the course of |the wheat market late today. | Commission house buying enlarged as the day drew to an end, with not a few previous sellers switching their | market position to the purchase side. Official reports shcwed little snow | protection in domestic wheat terri- tory and colder weather expected to develop tonight. Wheat closed firm at the day's top figures, May, 973ga97%2; corn, un- chenged to 12 higher, May, 8475a85; oats, !4-33 up, and provisions un- changed to 7 cents off. WHEAT— Open. High. Low, Close H7-i H’n-“'v R07y-81 A Ya July " i 1 { Januery May .. Chluxn Cash Market. Wheat, No. 1 hard, 1.06; corn, No. 3 yellow, 89; oats, No. 3 white, 54; no rye; barley, 75a1.20; buckwheat, No. 1, 1.37; soy beans, No. 2 yellow, 1.20 net track country station; tim- othy seed, 16.75a18.75 per hundred- weight; clover seed, 15.75a22.60 per hundredweight. Liverpool Grain Prices. 'OOL, January 25 (P].—Whelt“ Prev. ‘ LIVERP! futures closed easy. Close clo: INSURANCE STOCKS NEW YORK. January 25 ().—New York Security Dealers’ Association: Bid, Asked. Actna Cas (2160) - 61, Aetna Fire (1.60) Aetna Life (113%) Asricultural [EXIN Am Reinsurt (2%5) Am Surety (1) nix ) ash (1.10%) Eroban Fire (1) me;feld (4%) un Travelers (13) Fire (1.40°)" us Westchester (110 *Including ex TDeclared or paid so far this year. Alabama Power Co.—1934 prelimi- nary preferred share earnings were $7.75 vs. $8.92. B GENERAL MOTORS EARNINGS IMPROVE Net Equivalent to $1.99 a | ing to Preliminary Report. By the Associated Press. NEW YORK, January 25.—General Motors Corp. preliminary report for | 1934 shows earnings equivalent to $1.99 a share on the average number of common shares outstanding during the year, according to a statement made today by Alfred P. Sloan, jr., president. The figures for the last year, which are subject to further possible ad- | justment upon final closing of the | books, compare with earnings for 1933 of $1.72 a common share. Preliminary net income available for dividends, including equities in the undivided profits or losses of sub- $94,769,000 for 1934, compared with $83,213,676 in the previous year, After deducting dividends of $9,- 591,000 remained, applicable to the common shares outstanding, compared with $74,034,831 in 1933. Earnings are after providing for depreciation on real estate, plants and equipment amounting to approximately $32,500.- 000, compared with similar charges of $30.149.825 in the previous period. Preliminary _balance sheet data ment and other marketable securities at December 31, 1934, of $186,500,000, while a year earlier the total of the same items was $177,303.966. Net working capital at the close of last year amounted to $275,500,000, against $243.832,896 at the 1933 year end. “During 1934,” Sloan said, “Gen- eral Moiors dealers in the United States delivered to consumers 927,493 cars and trucks, compared with 755,~ 1778 cars and trucks in 1933, a gain of 171,715 units, or 22.7 per cent. ‘,_' | Sales by General Motors operating divisions to dealers in the United States during 1934 amounted to 959,- 494 cars and trucks, compared with 729,201 cars and trucks in 1933, a gain of 230,293 units, or 31.6 per cent.” Total sales to domestic and Ca- nadian dealers and overfeas ship- ments, it was revealed, amounted to 1,240,447 cars and trucks, including production from foreign sources. In 1933 the figure was 869,035 cars and trucks, so that the 1934 shipments rep- resented a rise of of 371,412 units, or 42.7 per cent. It was stated that a more detailed statement would be issued to stock- holders at a later date. SAVANNAH NAVAL STORES. SAVAN‘NAH .hnunrv 25 (A.—Turpen- tine flx s, 6 10. fl'l':- p ent.‘ Joa: ¢t t: '8: shipmi Stock. nu u'u'"n‘"o?e"l 0 1300 B 47 Share During 1934, Accord-| sidiary and affiliate companies, was : 178,000 on the preferred stock, $85.- | showed cash, United States Govern- | New York Cotton By the Associated Press. | NEW YORK, January 25.—Cotton futures opened barely steady, 4 to 8 | lower under near-month liquidation and owing to the slow demand. Jan- uary, 12.39; March, 12.46; May, 12.50; July, 1250; October, 12.43; Decem- ber, 12.49. There was a moderate volume of | | business at the opening, with prices | lower under the near-month liquida- | tion, while there also appeared to be | some selling by spot houses and New | Orleans. Offerings were absorbed byj | the trade and, while less active than | | recently, there was also some further | buying for foreign account, attributed chiefly to the Far East. Offerings were comparatively light | after the opening and prices steadied | 2 or 3 points on trade buying or cov-} | ering, with active months showing net | ‘lusses of about 4 to 6 points at the | end of the first half hour. Near| | months were relatively “easy under | liquidation, with January selling off | to 1239, or 9 points net lower. One of the private cables received in the trade from Liverpool this morning ex- | pressed the opinion that the frost| damage to the Indian crop had been | discounted in that miarket. STOCKS ARE DULL AT STEADY LEVELS Market Shows Selectivity. Transfers Approximate Only 5€0,000. BY VICTOR EUBANK, Associated Press Financlal Writer, NEW YORK, January 25—The stock market displayed some selece uvity today, although dealings cone tinued extremely dull. The late tone was steady. N. Y. Central, U. S. Steel | and General Motors were about even, | Consolidated Gas and Public Service of New Jersey improved fractionally, while radio preferred B rose 2 poinf Transfers approximated 500,000 shares, Shares of National Department Store preferred and Spiegel-Maystern 8ot up about 2 points each and others up fractions to a point or more, ine cluded Consolidated Gas, United Corp. preferred, Public Service of New Jer= sey, Commonwealth & Southern, Radio pree ferred B and A, Proctor & Gamble, Continental Can, Otis Steel preferred, Santa Fe, Air Reduc- | tion and Columbian Carbon. | _Such issues at United States Steel, General Motors, Chrysler, General Electric, Westinghouse and Du Pont were extremely narrow. American Telephone yielded frac ally. Free- nort Texas dropped more than a point following yesterday's dividend reduc- The rails were not expecially re- sponsive to a little more than sea- sonal gain in freight loadings for the week ended January 19 of 9,280 cars | The total was 562955 cars, which i was 1,053 above the like 1934 week and 63,401 over the same week in 1933 While the markets apparently were still gold-clause conscicus, brokers re. ported there now ceemed to be less apprehension among traders as to the on which may be handed down the Supreme Court. Interest in the power stocks was said to reflect belief among some ob- | servers that the utility, powers and { the administration xng}f‘ arrive at g compromise if rates are cut according to the Government's pattern. American Telephone was a bit une | easy following Senator Wheeler's res- olution asking more authcrity for the | Federal Communications Commission 1n its investigation of the system's af- fairs, | by e I 1MONEY IN CIRCULATION CONTINUES TO DECLINE < | By the Associated Press Money in circulation continues to | decline in keeping with the seasonal tendency. A further drop of $35,000,« 000, as shown 1in this week's Federal Reserve statement, makes the total decrease since the year end, $279,000,- 000. Comparative circulation figures H.000,000 POWER OUTPUT GAINS. BALTIMORE, January 25 (Special) | —Electric power output ot the Con- | solidated Gas, Electric Light & Powel Co. for the week of January 18 record- a gain of 11.08 per cent over that of the corresponding week a year ago In the week of January 11 the gaig was 1.79 per cent over a year ago. FIRST TRUST MONEY Will Lend at Above Rate With 19, Commission Provided: On D. C. residences. Not over 50% present value. Not over $7,500 any one loan. Not under $2,500 any one loan. Not over 3-year maturity. Address Box 20-B, Star Office “Where Savings Are Safe” Columbia Building Association 716 11th St. N.W. NAt. 6543 Ample funds available to refinance existing trusts or modernize the home. First Mortgage Money I Available for Loans on The market worked off to 12.44 for | March and 12.42 for October later,| making net losses of about 5 to 8 points on the active months. This| decline seemed to bring in a little | more trade buying, while offerings were light and prices steadied up| from the lowest, with March selling at | 12.48 and October at 12.44 at noon, or | about 4 to 5 points net lower. Jan- uary sold down to 12.35, or 13 points net lower, during the morning, but; later rallied to 12.40 before trading ! in that position ended at midday. Liverpool Quotations. LIVERPOOL, January . ACo(ten§ 5000 bales. including 2200 American Spot quiet; prices 1 Daml higher. Quu- tations in pence. American stnct lond middling, Strict middling low_middling, 6.0 sirict sood ordinary. Futures rlns!d 6.81: March, 6.83: October, 6.69; December, 6.07. | ‘middi bt Raise in Brokers’ Commission Rates Still Undecided | By the Associated Press. NEW YORK, January 25.—The question of an increase in commis- sions charged for stock exchange transactions still hangs fire. Yester- day’s meeting of the governors of the association of stock exchange firms | broke up without a decision to enter a formal plea to the exchange for higher rates. Wall Street understands that the division of opinion on the question is so pronounced that any recommenda- tions to be made to the Stock Ex- change may have to come from indi- vidual member firms rather than from the association as a body. ’ Residential Property in the District of Columbia 5%2% Prompt action. B. F. SAUL CO. 925 15th St. Natl. 2100 F irst Trust Loans For Purchasing a Home or RE-FINANCING EXPIRING TRUSTS NO COMMISSION CHARGE NO RENEWALS REQUIRED Terms Arranged on Easy Monthly Payments