Evening Star Newspaper, December 29, 1936, Page 14

A—14 wx3 OUTLOOK BRIGHT IN'FIFTH DISTRICT Maryland Roads Program and Roanoke Steel Plant Important Projects. BY EDWARD C. STONE. In addition to .remarkable retail holiday trade records in the fifth Fed- eral Reserve district, which includes ‘Washington, there have been other developments in the past few days exceedingly cheerful in their bearing on the 1937 outlook, notably the award of a $1,000,000 contract to a Roanoke steel plant and a $60,000,000 road- building program announced by the State of Maryland. At the same time fifth district tex- tile, tobacco, rayon and paper indus- tries have been humming with activ- ity, with no labor troubles to disturb progress in any of these lines. Latest estimates are that retail trade in this territory will average about 12 per cent better than in the same period in 1935. The Federal Reserve Bank of Rich- mond reports that weather conditions have enabled construction to con- tinue at an unabated pace. November permits amounted to $6,913,844, or 31 per cent greater than, the $5,267,579 total in November, 1935. November chalked up the thirty-fourth consecu- tive monthly gain which started in February, 1934. Jobbers all over the district report # heavy pick-up in orders for quick delivery, to augment depleted store stocks. Recent refill orders have been considerably above normsl, reports state. Postal receipts, realty trans- fers and bank clearings are continuing at a high level. Higher Transit Income Seen. Adoption of the $1.25 passes by the Capital Transit Co. at the end of the present week is expected to make very substantial improvement in earnings next year. The company has been selling about 80,000 passes every week. ‘The addition of 25 cents to each one of these passes will mean a great deal to the company. ‘There was a gain of 1,168,102 in the | number of revenue passengers carried | in November. In the first 11 months | of 1936 the company .carried 155.- 233,893 paying passengers, against 138,689,503 in the same period of 1935,1 an increase of 16,544,390, or an im- ' provement of 11 per cent. Expenses during the past year, how- ever, proved a heavy blow to net| earnings. After all deductions nrv.-‘ earnings in the 11 months totaled | $2.162.85, against $385855.38 last year, a decrease of $383,69253, or 99 per cent. Operating revenues emountad to $9,507,771.82, compared with $8,556,518.52, an increase of $951,253.30, up 11 per cent. | At the same time total operating expenses, taxes and depreciation showed an increase of $1,270,628.94, or 16.5 per cent. Operating expenses | alone totaled $7.435321.05 an in- crease of $988,864.39, or 15 per cent. ‘Taxes called for $592,393.71, up $54,~ 840.19, or 10.2 per cent, and dep.ecm- tion took $925,603.81, an increase over | the same period in 1935 of $226,924.36, | or 35.5 per cent. There was a fsumg! off of $66,000 in non-operating in- come which reduced gross still fur-| ther, In the picture in 1937 the heavy | expenses for track changes will not | eppear. With this reduction in costs and higher pass revenues, it is ex- | pected that the improvement will be notable. | Bankers Meeting Date Fixed. | Representatives of Washington's 22 | financial institutions will attend the annual Midwiner meeting of the Dis- | trict of Columbia Bankers' Associa- | tion the evening of January 18 at the Willard Hotel. Karl W. Corby of W. B. Hibbs & | Co., president of the association, in | announcing this date through Vice President Thomas J. Groom, has in- dicated that an interesting program is being planned. A speaker of wide repute is being selected and wiil be announced in the near future, The appointment of a chairman for the 1937 Convention Committee is expected. This selection will, there- | fore, receive its share of interest and | discussion during the evening’s pro- ceedings. It was recently announced | that this conclave would take place at White Sulphur Springs May 26 through May 31, Further Price Rises Likely. The spectacular advances in many commodities during November and December have lifted the average price level nearly 4 per cent, says the United Business Service in its current report. The recent spurt is nearly as great as the entire gain in prices i;o;: January, 1935, to the Autumn of The service takes the position that: the current rise in commodity prices is justified by the improvéd statistical Pposition in most items. It points out that supplies have been decreasing tapidly, with consumption being stepped up to the best level since 1929. Heavy accumulation of raw ma- terials by foreign countries for war needs has caused & drein on inven- tories. Food supplies have been kept low because of the severe drought of last Summer. Speculation in commodities has in- creased recently and this has placed some items in a vulnerable position. ‘Technical eorrections, therefore, will probably occur from time to time. ‘These are likely to be only temporary interruptions in a general upward trend, the review says. Heard in Financial District. ‘The National Bank of Washington paid a Christmas bonus to all em- ployes of the company, the distribu- tion being made on Christmas eve. The bank has enjoyed an exception- slly good year, according to President J. Frank White. . Frank J. F. Thiel, manager of the ‘Washington office of J. §. Bache & Co., §s distributing the firm's annual re- view and outlook to clients. It is one of the most optimistic forecasts on president of Ohic Citizens’ Trust Co., Toledo, has been appointed chairman of the Subcom- mittee on Government Lending Agencies of the Committee on Bank- ing Studies, American Bankers’ Asso- ciation, it is announced by Wood Netherland, Bt. Louis, chairman of the Committee FINANCIAL. STAR, WASHINGTON, D. C, TUESDAY, DECEMBER 29, 1936. FINANC TRANSACTIONS ON THE NEW YORK STOCK EXCHANGE By Private Wire Direct to The Star. 2:16 p.m. Prev. 1056 lllh. stock and Low. 59 Acme Steel (4) ___ 9% Ad Exp (asbe) - 17% Adams Millis(a1%) 22% Address’graph( 1). 1% Advance Rumley... 58 Afr Reduction (11). 2 Alir-Way Elec Appld 13 Alaska Jun (160c). 2% Alleg Corp (d) 12% Alleg pf w$30w (d) 12% Alleg pf wS40w (d) 124 Alleg pf xw (d)_. 27 Alleg pr pf (d) 267 Alleg Steel (a1.65)- us 157 Allled Chem (6 398 28%, 45% 103 69 Allied Stores pf (5) 35% Allis-Chalm (t13). 19% Alpha Port C(a1%) 4 Amal Leather - Amal Leath pf (3)_. Amerada Corp (2)_. Am Ag Ch (Del) a4 Am Bank Note (t1). Am Bnk Note pf (3) Am Brake Sh (12)__ Am Brake S pf 6% AmCan (14) AmCar & Found 57% Am Car & Fdry pf. 81 Am Chain (a4) 87% Am Chicle (14) 27 AmCoalof Alleg__. 713 Am Colortype 201 Am Comcl Al (a50c) 16% Am Crystal 8(a500) 89 AmCrysB st pf(6) 3% Am Encaustic_____. 615 Am & Foreign Pwr._ 26 Am & For Pw 36 pf. 29% Am & For Pw §7 pf. 12 Am & For Pw 2d pt. 13 Am Hawallan (1)_.. 4% Am Hide & Leather. 3114 Am Hide & L pf (3). 37 Am Home P (12.40). 24 Am Ice 16’3 Am Ice Df (2) 9% Am Intrnat’]l (a40¢) 2814 Am Locomotive _. 21 Am Mach&Fdy(t1) 10 Am Mach & Met 60c. 27 Am Metal 714 Am Power & Light_ 36% Am Pwr&Lt pf (5)- 43 Am Pwr&Lt pf (6)- 18% Am Radiator(160c). 23% Am Roll M (11.20) 81 Am Saf Razor (12)- 18 Am Seating(a2is).. 25'% Am Shipbldg (2) . 56% Am Smelt&Ref (3). 1085 104 Am Smé&Ref pf (6)- 1523 136'5 Am Sm&Ref pt (7). 31 61% 36 635 26% 571 Am Snuff (13) __ 2015 Am Steel Fdry (al) 243 Am Stores (2) 481, Am Sugar (2) 20% Am Sumatra T 190% 149's Am Tel & Teleg (9) 10215 104 18 27% 1083, 111y 22 1i2 102 88 107 49 54% 35w 87 Am Tobacco (5) - 8813 Am Tobacco B ( &7 Am Type Found 19's Am Wat Wksad0c._. 92% Am Wat W 1st (6).- % Am Woolen 528 Am Woolen pf (34). 3 Am Writ Paper (d). 41s Am Writ Pap pf (d) 31 Am Zinc & Lead 24 AgZinc&Lprpt.. 28 Anaconda Cop (t1)- 36 Anaconda Wire t2.. 15'4 Anchor Cap (60¢) 97" Anchor Cap pf(63) 9 Andes Copper_ 3 AP W Paper 37 Archer-Dan-M (12) 4% Armour (ljiinols) 66 Arm'r(111)pr pf (6) 47% Armstrong C'k 11%. Tl Arnold Const (53¢). 813 Artloom Corp - 95 Artloom pf (37)- 12% Asso Dry Goods Assoc D G 1stpf(6). 59 Atch To& S 90% Atch To&S F. 21% Atl CoastL! 1333 Atl GULE&EWL PL(3) - 26% Atlantic Refin (11). 118'3 109 Atlantic Ref pf (4). 84 30% 54k 104 461 % 48 Atlas Powder (12).. 14 Atlas Tack (a75¢).-. 26% Auburn Auto 5% Austin Nichols Bales— Dividend Rate. ' Add 00- = 3 291 Austin Nichols pf A 110- 4% Aviation Corp (Del) 2% Baldwin Loco (@) - 2% Baldwin Loasd(d). 157, Baltimore & Ohlo_ _ 21 Baitimore & Oh pf_ 40% Bang & Aroos (23%4) 21 Barber Co (a75¢) ... 13% Barker Brotners 14% Barnsdall O1l (80¢) 16% Bayuk Cigars t75¢c_ 18 Beatrice Cream(11) 85 Beech-Nut Pkg(t4) 13 Helaing-Hem (1) 21% Bendix Aviat(al%) 20 Beneficlal L (11%) 48 Best&Co (2%) 46% Bethlehem Stlall. 13513 107, Betnlehe Stl pf(7)_ 23 Bigelow-San (1) _ 18% Black & Decker 25¢ 14!y Blaw-Knox (a80c) 18% Bloomingdale (al) 77% Blumenthal pf(321) 167 Boelngr Airplane 40% Bohn Alum&Br (3) 801 Bon Ami (A) (a6)-- 39y Bon Amj (B) (a3).. 26% Borden Co (1.60 64 Borg-Warner (4)-.. 6 Boston & Maine __. 1'% Botany Min A (d) 124 Bridgp't Brass 1400 43Y Briggs MIg (12) 47 Briggs & Strat (3) 41 Bristol-Myers 12.40. 40% Bklyn-Man Tr (4). 4% Bklyn & Queens . 33% Bklyn & Qns pf(33). 44% Bklyn Un Gas (3).. 45 Brown Shoe (3) 8% Brunswick-Balke. 87 Bucyrus-Erle 9% Budd (EG) Mfg_ 85 Budd (EG) Mfgpf. 8% Budd Wheel (a20c). 20% Bullard Co (al1%)-- 11% Bulova Watch 25 Burr Ad Mch(160c) 214 Bush Terminal (d). 8% Bush Term deb (d) 14% Bush T Bldgs pf(d) % Butler Bros (a60c) 29% Butler Brospf 13 . 2% Butte Cop & Z(a5c). 16% Byers (A M) 5414 Byers (A M) pt 22 Byron Jacksen t1._. 30% California Pack 1% % Callahan Zinc-Lead 6 Calumet & Hecal50 30 Campbell Wy (t1). 10% Canada Dry G & _. 10% Canadian Pacific 12% Cap Adm (A) able 6% Carriers & Gen (30c 9215 Case (J 1) Co (4) .. 186 11'& 116 Case (J 1) Com (7) 54% Caterplllar Trac 13. 21% Celanese Corpall - 19 Celotex Corp 54 Celotex Corp pf 35 25% Cent Aguire (71%) 6% Central Foundry Co 35 Central RROINJ. 47% Cerro de Pasco (4). 8% Certain-teed Prod.. 57% Certain-teed pf (6). 38% 19 Champ Pap& F (1) 111 101 Champ Paper pf( 100 % 8% 2% 13% 33’/. 2% 5% 12% 24% 65% 3 59 Chesapeake Corp 51 Ches & Ohio (12.80) 2% Chi & East 111 pf(d) 1% Chi Grt West (d) 4 ChiGrt W pt (d) 6 Chi Ind&Lou pt (d) 25% Chi Mall Ord(113%) 1% Chi Mil St P&P (d) 2% Cht M St P&P pt (d) 12% Chi Pneumatic Tool 40% Chi Pn Tool pf $3%. 1% Chi R 1&Pao «d) 8% Chi RI&P 6% pf d) 3% Chi R &P 1% pf(d) kash Cot 85% Chrysler Corp(a13) 16% City Lce & Fuel (3). 89% 72% City Ice&¥F pf (634) 4% City Stores 46% 23% Clark Equip(+1.60). 4T 33 Clev Graph Br (2) 48 Cluett Peabody (3)- 1T% m 124 Cluett Peab vt ). 2lK 2)_ ___, Coca-Cola 18 Colgate P-P (150¢)- 66% - 39% Collins & Atk t3 ... 48 36% 2T 23% 14 28% Colo Fu 21 Colo& 19% Colo & Columb G & B atlo. & Iron. mzm 32% 31n 32% +1% 114 3% 1513 29% 6 38W % 9% Tin 20" 3415 39% 36k 27 27% 18 22% 61 5% 2 l?t“! 108 15 22 Souts : X ith 1st p2 1008 104 33'\ 244 100 9% 32% 521 331 Tin 26% 25% 140'%% 127% 11 85 64% 7 2% 5% 4% 3 3 9915 100% 83y 83% 39% 65 69 140 113% 18 184% 1051 105% 32 32 5 5913 59 15% 15% 4% 14% 99% 100 20 20% 98 98 69% 0% 103 103 114 114 73 13 154 15% 274 281 22% 22% + 61 61 3% 5% 127% 12711 33 284% 293, 92 33t 514 464 47 19% 20% 121 100 100 9% 32% 5l 26'% 137% 127% 71 8% 36% T35 — 16% 67% 34% 11 4% 111 84% 85 +1% -1 -34| - —3% FEF FSF FFES +1% % + +3% -1 Prev. i 48% 109 102 Consol Ed NY pr(6)x 3T 35% 91 110 153 21% | 184% 1365 116 12% 185 166 40 157 46l 364 1058 58% 45 568 26 11% 48 20 441 AT 358 531 1234 15% 105% 149% 39% 1T% 4% 68 198 62% 63 3% 16% 32 125% 105% 55 18% 9 133 21% 164 41 149% 80 49% 124 8 1036 Low. 901 Col G & £ ptA (6) 31 Colum Pict vte (11) 24 Colum Plocvpt3% 94 Colum Carb vte(t4) 44 Comcl Credit (14)_. 56 Com'l Invest T (t4) 14% Como'l Solv (t60c) - 2% Comw & Southern. 59% Comw & Sou pf (3). 7 Conde Nast Pub. 30% Congoleum N t1. 16 Congress Cigar (a2) 8 Consol Cigar Stock and 2:16 p.m. Bales— Dividend Rate. Add 00. High. Low. Close. Chge. 2 105% 105% 105% +1% 11 34% 33% 334 —2% 11 40% 39% 40 = % 119 119 119 6 684 67 67 ~1 6% 5% = % 19% 3% 69% 7 65% Consol Cigar pf (7) 100s 724 Con C prpf ww 6% 3108 274% Consol Ed N Y 2__ 4% Consol Film 15% Consol Film pf(}2). 87 Consol Laundries... 11% Consol Oil (8%c) . % Consol Textile (d). 2 Cons Coal (Dsl)vto. 12% Cons C (Del) pf vio 15% Container Corp (t1) 10% Contl Baking (A).-. 1% Contl Baking (B) 674 Contl Baking pf($9) 63% Cont’l Can (13) ____. 17 Contl Dia Fibre(2)_ 3514 Contl Insur (11.60)_ 2% Cont! Motors - 28% Contl 011 (Del)alls. 25 Contl Steel Corp(1) 65% Corn Ex BK&Tr (3). 1108 22 63% Corn Prod Ref (13). 4 Coty ino = 24 Crane Co 35 Creamof Wh't (12). 15% Crosley Radioall . 43% Crown C'k& S (a4) 44 Crown Ck pf xw 23 102 Crown WP 1st $6%. T4 Crown Zelleb'x vte_ 28 Crucible Steel e 95'% Crucible Stlpf $4%. 64 Cuban-Am Suga: 63's Cuban Am Sug pt. 35's Cudahy Pkg (2%)_. 167 Curtis Publishing_. 9915 Curtis Pub pt (7) 4 Curtiss Wright_ 10% Curtiss-W (A) aivg 43% Cutler-Hammer t1. 7% Davega Stores (1) . 52 Deere & Co ) 19'3 Delsel-Wem-G (11) 36% Delaware & Hudson 147 Del Lack & West___ 4% Den&Rio GW pf (a) 128 Detroit Edison (14) 13 Det & Mackinac pf 42 Devoe & Rey (A) 13 30% Diamond Mtch 113 37'% Dia Match pf 1% _. 18! Dist Corp Seag Ltd. 934 Distillers C'p pf(5). 19 Dixie Vortex (1%)- 41'; Dome Mines ( - 7% Dominion Stor 50% Douglass Aircraft 29 Dresser Mg (A)a3. 13 Dresser Mfz(B) al. 1% Duluth S S & AUl pf 47 Dunhill (nternat) 133 Du Pontde N a6.10_ 129 Du Pont deb (6) . 111% Duquesne Lt 1st (5) 515 Bastern Roll Mills_ 156 Eastman Kod (15) 152 Eastman Kod pf(6) 2815 Eaton Mfg (12) - 5% Eitington-Schild c Auto Lite 12.40 c Auto L pt (7). Elec Boat (a60c) . 54 El & Mus Ind al8c._. 6% Klec Pw & Lt 293 Elec Pw & Lt $8 pf_ 32% Elec Pw & Lt $7 p! 39% Elec Stor Bata2¥ .. i3 Elk Horn Coal (d) . 1'3 Elk Horn C pf (d) 221, El Paso Nat G(1.60) 7' Eng Public Service. 46'2 Eng P S $5 pf ($10). 48 EPS$5.50 ww 311 11 ErteRR. 12 Eureka Vac C (80c) 23'/- Evans Product(t1). 4% Exchange Buffet__. 2% FairbanksCo_____ 813 Fairbanks Co pf. 34%, Fairb’ks-Morse(t1) 31% Fajardo Sugar (2).. 18% Federal Lt & Trac . Th Federal Mot Tr 40c. 3 Fed Screw Works _ 214 Fed Water Sve (A) 20% Fed'd Dept § (al%) 38 Fidel Phoe F 111.60 24’ Firestone T & R (2) 100% Firestone pt A (6)_ 40 First Nat Strs 1215 . 304 Flintkote Co (1) 4615 Florence Stove 43 _ 16 Florence Stove war 37 Follansbee Bros d) 32 Food Machine (1)_. 106 Food Mach pf(4%) 24% Foster-Wheeler 3014 Fourth Nat 1 a2.35 2315 Freeport SulCo (1)~ 3114 Fuller Co2d of. 3% Gabriel Co (A) ... 114 Gamewell Co 15% Gar Wood Ind a55c_ 813 Gen Am Inv (a75c) 42% Gen Am Transp asc. 10% Gen Baking \'60!:)- 17 GenCable A 70%3 Gen Cable pf (37). 49 GenCigar (t4) 345 Gen Electrie (11) 33% Gen Foods 11.80) ___ a Gen Gas & Elec (A) §8 Gen Mills (3) 58% Gen Motors (a¢%). 118 Gen Motors pf (). 5% Gen Outdoors Adv._ 18% Gen Outdoor Adv A. 38 Gen Print Ink (a5)- 314 Gen Pub Service 321 Gen Ry Signal (1).. 2 Gen Realty & Util__ 33% Gen Refrac (a3%).. 3214 Gen St Casung pf 17 Gen Theatre E (a2). 13% Gillette Saf R (1) 70 Gillette S R Dt (6 6% Gimbel Bros. 84 Gimbel Bros pf (6. 391 Glidden Co (2) 52% Glidden cv pf(2%)- 3% Gobel (Adolf) = 6% Goebel Brew (120¢) 13% Goodrich (BF) (al) 74 Goodrich(BF)pf(5) 21% Goodyear T & R 100 Goodyr T&R of (5) 87 Goodyear $7 pf (4)_ 8% Gotham Silk Hose.. 2 Graham-Paige _ 1% Granby (24 stpd) . 3% Grand Dulon ctfs__ 16 Grand Un pf (31%) 24% Granite City 8tl (1) 28% Grant(W T)(11.40). 32% Grt Northen pf___ 16 Grt North'n Ore (1) 31 Grt West Sug (3.40) 136 Grt West Sug pf(7) 22 Green (H L)Co(t1) 14% Greyhound (180¢) - 1% Guantanamo Sugar 24 Guantanamo Sug pf 9% Guif Mobile & N 30% Gulf Mobtle & N pf. 28% Gulf States Steel 30 Hackensack W(1%) 6 Hall(WF)Printing. 14 Hamiiton Wateh 104 Hamilton W pf (6)- 100 Hanna (M A) pf (5) 304 Harb-Walker (12)_ 12 HatCorp of Am (A) 4% Hayes Body 99% Hazel Atlas Gl (15) 12% Hecker Prod (60c) . 150% Helme (G H) pf (7) 256% Hercules Mot (t1) _. 84 Hercules Powaby% . 58% Hershey Choc (13)_ 30% Holland Fur (a1%) 108 Holland Fura pfi6) 9 Holland&Sons t50c. 19% Holly Sugar (13) .. 39% Houd-Hersh(A)3% 22% Houd-Her (B) 113% 54% House Fin new (t3) 18% I1linots Central. '80 Ilinols Cent pf (A) 5% Equit Office Ba20c. - 28 7 10 FE FEEFE FFEEE ¥ 41 25 + 4 4014+ 444010 P = & FrEs FErEE AU s FEFE FEEE {6, o U 8 G o | & oy FrEFSEFE ¥ T |4 o LA R RS R g U - FollLI & 2 FirE SEEEs bt 42 46 26% 41 101% —1% 534 — % SREFES & f!‘i‘f.rff 3 37 36% 3 2135 134% llz 7 115% 118 116% + % B5 23 21 2% + % Prev 18% 1% 5% 47% 194 104% 10% 8 15% 66% 23% 14% 844 126's 26 3614 334 281 24 25% 63% 24% % 61 184 32h 28 v 43 10% . i 617 &y 13 2615 151 5115 30y 102% 35 42 37 2314 46 24% 18115 112 126 !07‘! 32% 28Y% 112 64% 110 40 83 49% 53% 95 15 29% 150 2 310\1 l.“ 22 15 324 115 pm. Stock and Sales— Low. Dividend Rate. _ Add 00. High 11 Inter Rap T vto (d) b1 2% Intercontl Rubber.. 6 9% Interlake iron. 25 2% Int Agricultural 22% Int Agricul pr pf. 160 Int Bus Mach (16).. 66% Int Harvester 33 2% Int Hydro Elec (A) 415 Int Mercantile Mar. 10 sntl Mining (a%0c). 434 Int Nickel (a1.30) 3% Int Paper & Pw (A) 24 Int Paper & Pw (B) 1% Int Paper & Pw (C) 20% Int Paper /- Pw pf_. 37 Intl Print Ink (12)_ 3% Int Ry Cent Amer 3 Int Ry Cent Am vte 19% Int Rwy Cent A Dt 23 IntlSalt (t1%). 47 IntShoe (12). 15 Int Silver 50 Int Silver pf ($4)__. 11% Int Tei & Te 10% Interstate D S ab0c. 82 Int Dept Strs pf¢7). 15 Intertype Corp (1). 24% Island Creek (2) 5813 Jewel Tea (14) 88 Johns-Manville(11) 121% Johns-Manv of (7). 13 Kans City Southern 17 Kauf'nn DS t1.60__ 24 Kayser J&Co(al%) 19% Kelsey-H (A) a1% 17's Kelsey-H (B) a1t 14% Ketvinator (160c) 28% Kennecott (a1.70) 17% Keystone 8&W (2). 3% Kinney (G R) Co __ 30 Kinney(GR)pf(al) 4% Kresge Dept Strs 20'; Kresge (S 8) (11). 19% Kroger G&B(11.60) 205 Laclede Gas (StL). 15% Lambert Co (2) 12 Lee Rub&Tire(50c). 15% Leh Port Cem't(a2) 2 Lehigh Valiey Coal. 9% Lehigh Val Coal pf. 813 Lehigh Valley R R 89 Lehman Corp (13)_ 12 Lehn & Tinkal% . 87'4 Lerner Stores (12)._ 47% Libbey-Ow Gl a3 . 7 Libby. McN& Lal_ 25 Life Saver (11.60) 97 LIEE & Myers (14) _. 97% Lieg&kMvers B (14) 19 Lily Tulip Cup 1% 25% Lima Locomotiv 36 Link Belt (12) 82'3 Liquid Carb (2.60) Loew’s [no (+2 10413 Loew’s Inc pf (6%). 2 Loft Inc 35's Lone Star Cmt(12) - 3% Long Bell Lum (A) 107 Loose-Wiles pf (5). 2113 Lorillard (P) 11.20 140 Lorillard (P) pf(7) 13 La Oil Ref pt (d) 20 Louisv GEEDTA 1% 5713 Louis & Nash (a6)_. 224 Ludlum Steel (t1) 33 MacAndrew&F(i2). 29 Me Call Corp (12)_ 124 McCrory Store: 40% McGraw Elec (12) 16 McGraw-Hill 124¢ 3814 Mcintyre Poreu 12) 8314 McKes Tin P(ai’g) 8% McKesson & Rob 37% McKess&Rob pt(3) 11'; McLellan Strs a20c 27t Mack Trucks (+1) . 404 Macy (R H) Co (2)_ 8% 1son Sa G 160 34!; Magma Copper (a3) 1% Manat! Sugar (d) .. T4 Manati Sug pf (d). 7 Mandel Bros _ 1313 Man El md gt (4). 3213 Man Elev gtd (d) __ 17's Manhat Shirt (1) . 2'¢ Maracaine Of1 Bxp 8! Marine Midl'd t40c. 2\ Market St Ry 2d pf 18% Market St Ry pr pf 11'a Marshall Field & Co 615 Martin Pa; 2713 Mathieson Alk(1%) 434 May Dept Str (+3) 13 tag Co (a50c) - 44\ Maytag pf ww (3). 12% Mead Corp 95 Mead Corp pf (6) _ 55% Melville Shoe (13) 67 Mengel Co 50 Mengei Co pf 40% Mesta Mach a3% 5% Miami Copper 171 Mid-Cont Pet al.15 21% Mid'1d Stl Prod (12) 110 Mid St 18t pf (8) 65 Minn-Hon Ros 11% 106% Minn-Hon R pf (6) 6'5 Minn Moline Pwr 57t Minn-Moline pf(13) 1% M St P&S S Marte 28 M St P&SS M L 1036 5% 16% 4% 42 1861 53 Mo Kans & Texas 14!3 Mo Kan & Tex pf A. s Missouri Pacific(d) 37 79 Monsanto Chem (1) 35% Montgom Ward(t2) 1# Mnt Wrd rts Jan 29 41is Morrell J & Co 2.40 6015 Morris&Essex(3%) 1, Mother Lode a12%¢ 28% Motor Prod (12) 154 Motor Wheel (1.60) 21 Munsingwear (13)_ 70 Mullins Mfg f (1) 11% Mullins Mf(B)a50c 44 Murphy G C(12) _ 14 Murray Corp (a50c) 15 Nash Motors (1) 2015 Nashv Chat & St L 1214 Natl Acme (a75¢c) 915 Nat Aviation (al) 28% Nat Biscult (1.60) 307 Nat B'd & Inval.li. 1023 N B&I pfAww al.1§ 21l Nat Cash Reg (al)_x 13 21 Nat Dairy Proal% 63 m'l Nat Dairy P pf B(7) 20— at Dept Stores Sn. Nat Dist Prod (12). 28 Nat En & Stpg (2) "6&. Nat Lead (t50¢) atl Mal'ble&Stl a2. 9\ Nat Pwr & Lt (60¢) 15 Nat Ry Mex 2d pf_ 57t Natl Steeb (1215) 197 Nat Supply C Th Tea (6uc) 41 Newberry(JJ)t2.40 104% Newb'ry (J J)pf(5) 9 Newp't Indusaélc.. 321 N Y Airbrake a2 _. 2% NYCentral RR _ 17% N Y Chicago & St L. 364 NYChi&StLopf__ 3W NYDock _____ . 10% N Y Dock pf 08 119 N Y & Harlem (5) 127% 127% N Y Investors (d 10 1% 1% 5% 164 L5 11% 70 9814 108% 1a 261 184 Shipbuilding N Y Shipbldg pf (7) 83 N Y Steam pf (6) _ 9314 N Y Steam 1st (1) ‘114 Norfolk Southn (d) 210 Norfolk & W (18) _ 6% North Am Aviation 28% North Am Co (11) 28 Northern Pacifie 2 Norwalk Tire&Rub. 12% Ohio Oil (a60e) 24% Oliver Farm Equip.. 17 Omnibus Corp vte. 8 Oppenheim Collins. 24% Otis Elevatora7sc. 23 37 12% Otis Steer 16708 17% 8214 OtisStl1stpf(5%). 1 79 47 OutletCo (t2) . 100s 67 128 Owens-I'GI(a8)_. 2 153 13 Pac Am Fish (1)_. 314 Pacific Coast 8% Pacific Coast 1i 4% Pacific Coast 2a 30 Plcl(fl;u Finan t1.80_ 308 208 108'« 3 1 2 261 13% 29% 27 34 16% 53% 8 20% 50s “12% 208 25 20e 6 li 33 "Vt ll 4l 00. 1507 150% 208 149% 149 12 22w 21% 6% Packard Mot(adbe) 20% 12% Pan Am Petr (af0c) 1% Panhandle Pro & R vlmmhlllll P&R ot 67 Paraffine Co (1) 7% Paramount Plet Net /| . Chge. 1%+ % 5% — % 16% + W 4% 42% - % 186% ~1 100 +1 9% + 4 6% — % 15 + % 64U + % Low. Close. 10%° (REZEZRE X 2 ) DE 2B B I 2 Y+t L+ +410 Fsrsfesse safs 120% -2% 1% — % 5% — W 168 + &% -4 11% — % 70 -2 98% + ¥ 108% 1% — % 261 -4 13% + % 29% 2% + % 3% - % 16% + % 58% + % CEXR S EIFETE 55% 1224 13 | 130 66 24% 118 1333, 20 19% 2102 | 125 60 6% 41% 3T 26% 35% 20% 15% 9% 124 87n 106% 2T%h 4% 184 2% 2k 28! 149% 100 31% 32 21 3% 33% 96% 35 9% 48% 16% 29% 8% 1 ll‘“ 13% 2:16 p.m. 1938 _ Stock and . Dividend Rate. 69 Penney(J C) (a7%) 3% Penn Coal & Coke 4% Penn Dizle Cement 17 PennGl8'd efsas0e 28Y Pensa Railroad(a2) 30 Peoples Drug (t1).. 38 Peoples un Chi 256% Pere otte 12% Pet C'p 'of Am R300_ 10% Pfeiffer Brew (1.20) 25% Phelps Dodgeal . 3% Phila Rap Tr (d) 814 Phila Rap Tr pt (4) 1% Phila & Read C& 1. 66 Phillip Morris (3).. 384 Phillips Pet uz%)_ 8 PlerceOllpt 1% Plerce Petroleum 284 Pillsbury F 49% Pirelli Co A (83.13) 7% Pitts Coal Tiy Pitts Screw ab2%c. 234 Pittsbursh Steel Co 49 Pitts Steei pt 1% Pitts Term Coal. ... 14 Pitts Term Coal pf. Pitts & W Va._ 1% PittstonCo _ ____ 11% Plymouth O11 (+1)_. 20 Pond Creek Poc (2). 12 Poor&Co (B). ... 4'4 Porto R Am Tob A.. 1% Porto R Am Tob B 6% Postal Tel&C pZ (d) 1714 Pressed Steel Car . 5714 Press St12d pf 2% 40% Proctor & Gam t1% 116'% Proc & Gam pf 6) 1031 Pub Sve N J pf 1134 Pub Sve NJ pf 367% Pullman Ino (1%).. 16 Pure Ol 91% Pure O11 6% pt_. 103 Pure O11 8% pf 9% Purity Bak (t40c)_. 16% Quaker Sta Ref 800 9». Radio Corp - 3 Radio Corp pf A 3% .’- Radio-Keith-Or (d) 11 R R Sec [ll Cent __ 287 Raybestos-M t1%._. 3514 Reading (2) 39 Reading 1st pf (2)_ 974 Real Silk Hostery 65'a Real Silk pf (310%) 1% Reis (Robt) 2 12'a Reliable Strsas0c... Rem Rand (160¢) _ Rm Rnd pf ww 4 12eo Motor Car Revublic Steel Repub Steel pf $12. & Rep Stl prof A (6) Revere Copper Revere C&B pf a3l Revere C& B pf 5% Reynolds Met (t1) Reynolds Spring 11 Reynolds Tob B (3) Ritter Dental ++1) Ruberoid Co (11)__. 5% Rutland R R of 27 Safeway Stores(12) 96 Safeway Strs pf(5) 108 Safeway Strs pf (6) 110% Safeway Strs pt (1) 22 St Joseph Ld (a1) _ 1'3 St L-San Fran (d)_ 2% St LeSan Fr pt (a). 7% St L Southw'n (4)_ 11 Savage Armsal) __ 37% Schenley Dist (13)_ 93 Scheniey D pf (534) 1% Schulte R Strs () 5313 Scott Paper (12) % Seaboard Alr L (d) 2 Seaboard A L pf(d) 3015 Seaboard Ofl (1)___ 31, Seagrave Corp 59% Sears Roebuck (12) 1's Sears Rrts Jan 15__ 2% Secona Nati Invest 611 Sec Nat Inv pf (5) 15% Servel Inc (t1) 203, Sharon Steel (11.20) 89 Sharon St! H pf (5) 4% Sharpe & Dohme 11 Shattuck F G(150¢c) 301 Sheaffer Pen (2) 143, Shell Un Ofl (a25¢) Shell Un Oll of 6% Silver King (60¢)_. Simmons Co (a3)__. Skelly Ol 97% Skelly Oil pf (6) __ 54 Sloss-Sheffield Stl 657 Sloss-Sheft pf (7). 4014 Smith (A O) 21 Snider Packing 12'5 Socony Vac Oll a70c 110 Solvay Am pf (534) 3% So Am G & P(a30c) 26 South Port S (12) 25 South Cal Edis 1115 2313 Southern Pacific Southern Raliway. Southern Ry pf . Spalding (A G) SpangCh&Co pf 316 Sparks- Withington Spencer Kell (1.60) " Sperry C'p vte (a1) Spicer Mfg (a3) Spicer Mfg pf (3) Spiegel-May S (5) . Square DCo (al%) Stand Brands 180c s Stand Brands pf(7) Stand Com Tobacco Stand Gas & El (d) Stand G&E 34 pf () Stand G&E $6 pf(d) Stand G&E 87 pf (4! Stand Q of Cal t1) Stand Otl of Mnd t1 Stand Oil of Kanal Stand Of1 of N J (11 Sterling Prod 13.80 1614 Stew-Warner t50c 14% Stone & Web (a25¢c) 94 Studebaker Corp 70 SunOfl (t1) 118 Sun Oil pf (6) . 27 Superheater (a35¢) 3 Supertor Ol 9% Superior Stee! 23 Sutherind Pap +1.60 20% Swift & Co (11.20) _. 28% Swift Intl Ltd (2) 15 Symgton-Gould ww. 12% Symingtn Gould xw 6% Telautograph (60c) 5% Tennessee Cop al5c 287 Texas Corp'n (11) 4% Texas Gulf Pr (a5e) 33 Tex Gulf Sul (12) . 28 Texas& Pac RR 7' Tex Pac C & O a2be 9% Texas PL T (al0c). 8% 193, 1915 3% Third Avenue 23% Third Nat Inv al.90 8% Thomp'n (JR) t50c 24% Thomp Prod (21%) 4% Thompson Starrett 14% Tide W Asso O §0c 100% Tide Wat A O pf(6) 12% Timken Detroit(t1) 56 Timken Roli B (12) 11 Transamerica t40c 147 Trans&Wn Air a2sc 1% Tr&Wn A rts.Jan 6 10% Transue&W (160c) T4 Tricontinental as0c 4% Truax-Tra C(a25c) Tl Truscon Steel 221 20th Cent Fox F a2_ 31% 20thCent Fpf 1% 8% TwinCity RT 65% Twin CR T pf 314 2% Ulen & Co. 74% Und-Ell-Fish(a2%) 38% Union Bag&Pap (3 71% Union Carb & C 3.20 20% Union O1l Calif (1). 108'3 Union Pacific (6) 90% Union Pacific pf (4) 22% Union Tank C 1.20 20% Unit Afrcraft as0c i3 Utd Alr L (a20¢) ... 16% United Am Bosch 24% United Bisc ¢1.60) 68 United Carbon (13) 22% Unit-Carr Fast(12) 5% United Corp (a20c) 40% United Corp ot (3) 10% United Drug (a75c) 15 Unit Dyewood(1).. 4 United Elec Loal 50% 32% Unit Eng & Fy (12). 6615 United Fruit (13)._ 14% United Gas Lmp (1) 109 United G Imp pf (5) 6% United Paperboard 2 U 8 Distributing Bales— Add 06. High. Net 12 7 9 3y 208 110% 1208 2% + % 5 +1 +1% > -1 + + + % + -2 +1 1 10 3714 1408 130 + —l 2108 9') 90s 1104 108 111% +2 + % phone, +3 " 1 1 1 1 +l*l+|+l|0l|lf+ll+$ - o+ ‘1 + * 7 +1 %z -2 U 8 Distributing pf 170- I’ l‘ulnt (). nnm “2)... 8 8 G 8 H s pr3% 5 16% 11 30% 30 ’ 128% 122% 16% l l'l LY wnmm Low Close. Chge. 9% -3% 4% - % T~ W 22 4+ %l 39% + W 49% — % NI £ 2| W IAL. STOCKS 'RREGULAR ATEND OF SESSION Tax Selling and Fresh Labor Upsets Cause Ragged Trend. Stock Averages tnduse. ua Net change. Unc. Today, noon 93.7 Prev. day... 93.7 Month ago. 97.1 lnu dth ltk- Unc. Unc . Unec. 372 506 68.7 372 506 68.7 384 523 711 30.0 44.7 856 435 537 728 4 302 434 85.7 763 312 447 56.1 - 495 185 216 3438 - 175 8.7 239 169 146.9 153.9 184.3 157.7 516 953 618 618 1935 low.. 1932 low... 1929 high. 1927 low.. (Complled by the Associated Press) BY VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, December 29.—Stock | prices tilted first one way and then i |the other in today'’s market and at 14 | the close trends were notably uneven. The ragged performance of the list, brokers said, was largely inspired by further selling for income tax pur- poses and fresh labor upsets in the | automotive industry. Transfers were % | around 2,150,000 shares. | Motor issues lacked support as a % “sit-down” strike got under way at w | the Cleveland plant of Fisher Body 1, Co., subsidiary of General Motors. Con- inuance of walk-outs in glass factories % | also were hindering production in the % | principal automobile centers. | Expectations in some quarters that the Securities and Exchange Commis- 15 | Sion and the Federal Reserve Board may be a bit more lenient in their 1% | new trading rules than forecast were Y reflected in the announcement ar- % | rangements had bean made for the | transfer of a Stock Exchange mem- “ | bership for $129.000, up $4,000 from | the last transaction. 14! Among the forward share leaners | were Standard Oils of New Jersev, California and Indiana. Texas Corp., '3 | Consolidated Oil. Seaboard,” Johns- - | Manville, Goodrich, United States Pipe & Foundry, Bethlehem, Ludlum Steel, Vanadium. North American Aviation, * | Deere, International Harvester, In- spiration Copper, American Can, Con- 14 | tinental Can. Philip Morris, Westing- ' | house Airbrake. Canada Dry. South- W emn Pacificc Northern Pacific and % Great Northern. | Inthe backward division the greater pnn of the session were U. 8. Steel, | General Motors. Chrysler. Auburn, 14 | Sears, Roebuck, Macy, J. I. Case, U, |'S. Industrial Alcohol. American Tele- Western Union, Consolidated ! Edison, Du Pont. Allied Chemical, | Commercial Investment Trust, Safe- way Stores, N. Y. Central, Paramount 1, and Caterpillar Tractor. % | x % % % ' % NEW YORK COTTON By the Associated Press. NEW YORK, December 29 —Cotton was reactionary today under liquida- tion and profit taking, with the dis- appearance of recent active foreign buying. March sold off from 12.51 to 12.37, but met renewed trade support | at this level. In mid-afternoon it ruled at 1243, with the list about 6 to 10 | points net lower. % % W W L b | Cottonseed Oil. ! Bleachable cottonseed oil futures | closely barely steady. January. 11.31b; March, 1147, May, 11.57; July, | 11.61b. Sales, 163 contracts, including |32 switches. W W ‘1 " " N s Prid EW ORLEANS. December 20 P.— Small losses predominated at the start of trading on the cotton market loda. March opened at 12.44. off ints: e Juiy December |, The ea \ r]prhn' was_attributed to 8 | technic: arket cendition. Strength in '1‘ distant positions was largely the result of xInch'nv lo later options of hedges by P Liversont_@ustat LIVERPOOL. Decemb: #1.000 bales. “including 14,800 American. | Spot” moderate business done: prices 1 point hizher. quotations in_pence can. st ®ood middling. dling, 1 | dling. % middiing. 6.3 | eood M’dlnyr" 5 gy 42t tober. 6.5 CHICAGO GRAIN B the Associated Press. CHICAGO, December 29.—Wheat prices were lower in late transactions here today, influenced by reactions at ‘Winnipeg. Considerable selling in Chicago was attributed to Winnipeg interests. Mes- sages from Canada said lack of any substantial new export buying of wheat there was a bearish factor. At the close wheat was 2 to 1 cent under yesterday's finish, May 13413 a%, July 1.17%a%; up, May, new, 1.06%a%: July, new, 1.02%a%; oats, %,a'; down, and pro- visions at 2 cents to 12 cents decline. WHEAT— Open. High h\l’ May 1.357 4 ). —Cotton. 03 T101h 1.00 Chicago Cash Market, Cash wheat, no sales reported; corn, No. 2 mixed, 1.06%2: No. 3 mixed, 1.05%a1.09'; mainly white; No. 3 yel~ Jow, 1.0732a1.07% ; No. 4 yellow, 1.0la 1.06; No. 3 white, 1.10a1.10%: No. ¢ white, 1.07'; oats, No. 1 white, 54'4; No. 2 white, 54%: no rye; soy beans, No. 2 yellow, 1.54; barley feed, 68a69 nominal; malting, 1.00a1.40 nominal; timothy seed, 5.85a6.10 hundredweight; new, 5.60a5.85 hundredweight: clover seed, 25.00a32.00 hundredweight. Winnipes Prices. WINNIPEG, December 29 ».—Crain B2V 51%-53 NEW YORK BAR SILVER. . > NEW YORK, December 29 ().—Bsd silver barely steady, % lower at 45%. A8 Bl% BSlha