Evening Star Newspaper, December 31, 1936, Page 23

FINANCIAL. GENERAL MOTORS SALES FEATURED November Report of S. E. C. Shows Many Transactions WASHINGTO CLEARINGS HOLD WELL ABOVE 1% Total Makes Good Showing Despite Decline From Previous Week. NCIAL. NEW YORK CVURB MARKET lml and Sales— ividend Rate. Add M Horn & Hard 11.60 Hudson BM&S (1) Humble Ofl (1) . Huy! pf stpd (d)..100s Hygrade Food 9 11l Pwr & Lt §6 pt 3300 Imp Ol ktd té0c % Indiana PL (t40c) 1 Ins Co of No A t2 200+ IntlHy R18cvpf 2 Intl Metals Inc A. 3008 THURSDAY, DECEMBER 31, 1936. Industrial Production of the United States as Reported by the Federal Reserve Board upon an index of total production in as calculated by the Moul Reserve Board > GURB LIST RULES STEADY O FIRM Light Pre-Holiday Trading ) Brings Selective Buying By private wire direct to The Star and Sales— D’v‘?flflmflhu Add 00. High. Low. elb“ Aero Supply (B).. Afnsworth (al1) ... Alr Investors Inc. Ala Pwr pf (6) __ 100 70 Allen Indus (t1).. 1 28 Alles Fisher - LI Alum'n Co of Am 1800, Alum Am pf $113% 60s lll Alum’'n Ind (40¢c) 1044 Alum'n Ltd Into Market. By the Associated Press. NEW YORK, December 31.—Prices were even to moderately higher as light preholiday trading brought se- lective buying mw the Curb market today. Despite the generally smooth course & number of shares stood out with comparatively wide gains late in the session. Montgomery Ward “A” was up more than 3, Aluminum Ltd. about )’ 5, Northern States Power “A" about 1!z and American Light & Traction more than a point. Utilities were the most vigorous. Several oils, including Gulf Oil and International Petroleum, advanced ma- Jor fractions. Some recently aggressive shares dropped 1 to 2 points. Sloan Predicts Further Widening Of Recovery Base By the Assoctated Press. NEW YORK, December 31 —Alfred P. Sloan, president of the General Motors Corp., pictured for 1937, in a year-end statement today, continua- tion of the “natural processes of re- covery, with a further widening of the base.” “Many important economic forces are in that direction,” he said. “On the other hand, there are also important influences to the cantrary. Among these industrial strife is cer- tain to exert a negative effect, and rapidly ascending prices also.” SOUND FOUNDATIONS FOR RECOVERY HAILED B the Associated Press. NEW ORLEANS. December 31.— R. S. Hecht, chairman of the Hibernia metal National Bank and former president of the American Bankers' Association says “favorable busipess prospects for 1937 rest on sound foundations.” “The rural sections are once more in satisfactory condition becayse there is good demand for agricultural prod- | ucts and all factors point to higher commodity prices,” he notes in state- ment on year-end conditions. CURB BONDS Ala Power 415 '67 Ala Bower 3% Am Rol Mm o e Ark P & At 4135 " a 1037, 10432 104% 637 64 % 613 60, e Alum’'n Ltd cu pf_ Am Afrlines. Ine.. Am Capital (A) _ Am CP&L ww2¥ 1 Am CitP&L Ba20e 11 Am Cynam B t60c 17 Am Eqit (a22%¢). 1 Am & For Pw ww 1 Am G&E (1.40) .. 16 Am G&E pf (6) 276 Am Gen C'p (ab0c) 27 Am Gen Copf (2) 26 Am Lau Mch t60c 3 Am LI&Tr (1.20) 14 Am Mfg Co (a3) .. Am Maracaibo Am Meter (a2%)- Am Superpower _ Am Superpwr pf . Am Thread pf 25¢ Anchor Post F Angostura (t20c) . Apex Electric(al) Appalach EPpf 7 Arcturus Radlo T Ark Nat Gas __ Ark NatGeupf. . Ark Nat Gas (A)_ Art Metal W t60c Ashland Oil & Ref Asso Gas & Elec AssOG& E (A) .. 149 Ass0G & E $5 nf 22 Assoc Invest (12) 100s AtlCoast Fisher . 2 Atlas Corp (a80c). B4 Atlas Corp war 7 AtlasC'ppf A(a3) 4 Atlas Plywd a50c¢ 9 Austin Silver 105 Auto Products 2 Auto Vot M(t50¢) 2 | Ax-Fisher(3.20)A 240s | Babcock&W a2.85 1008 Barium Stain Stl 10 Bellanca Afrcraft 2 Berkey&Gay F Co 18 Berk&GF pur war 14 Bickfords Inc 1.20 1 Bliss Co (E W) b Biue Ridge C allc Y Bohack (H C) 1008 Botany Cons (d) 1 Bower R B (a2%) 5 Bowmn-Bilt 1st pf300s Brazil TL&P 40c_. 6 Bridgep’t Mch al_ Brill Corp (A) Brill Corp (B) Brill Corppf Brillo Mfg A (2) Brown Co pf Brown F & W al5¢ | Brown Forman Buckeye P L. (3) Buff N&E pf 1.60 Bunker H&S (12) ibs | Can Car&Fdry pt 80s | Can Cement Ltd 1 Can Indus AlcoA 2 Carib Syndicate 9 Carrier Corp 15 Casco Products 4 Catlin Corp (at0c) 11 Celanese 1st pf(7) 25» Cen Hud G&E 80c 1 Cent & S W Utll 1s Cent States Elec 18 Cent St El cv pf n 100« Cent St E16% pf 250+ Cent St E1 7% pf 50s | Centrif Pipe t40c 3 Citles Service 156 Cities Service pf 17 Cit Sve P&L $6 pf 150+ | Cit Sve P&L $7 pf 350+ City Auto S(t60c) 3 Clev Tractor 2 Club Aluminum | Colon Dev L1d Colon Dev 6% pf Colo Fuel&Ir war ColtsF F A t1Y | Cotum G&E pt Columb O& | Co'wlth Dist al0c Com’with Ed (t4) Com with & S war Community PS 1 Community W 8§ 4 | Compo S M ste t1 | Cons Alrcraft Consol Copper Cons Gas(Bo)3.60 Cons Min&Sm 2 Consol Retall Strs Contl Oil (Mex) Cont'l Roll & S Fy Cook P & Var t60c Coover Bessemer : Copyer Range | Cora Corp 2 | Cosden Oil Me (d) 1,AZZT 1087, lvm: "56 1 1 0714 1 Cosden(Me)pf(d) Creole Pet (a50c) ! | Crocker-Whaloe | Croft Brewing Crown Cent P a6e Crown Drug (40c) Crystal Oil Ref Cusi Mex Mining Darby Petr (50¢). Davton Rubber Deijay Stores t80c Dennison 7% pf Derby Oil & Ref Detroit Gasket t1 Det Gray Ir t20¢ Det Stl Prod a1 Diamond Shoe(12) Distilled Liquors Dohler Die C (a1) Domin S&C (B) Driver Harris (t1) Dubelier Condens Duke Power (3) Duval Tex S a50c Eagle Pitch d a60c East'n G&F Asso East GEF pof 4% East’'n States Pwr East’'n St Pw (B) Kasy W M B t50¢ Eisler Elec (asc) Elec Bond & Share Elec B & S pf (5) Elec B & S pf (6) El Pwr Assoc a25c El Pwr As(A)a2se Elec P&L opt war Elec Shareholding Elec Sh pf ww (6) El Shov C 1st pf 4 T4 3 1008 2 2 8 21 61 39 T 1 9 7 3 1 308 Kt 2 1 1 5 . 3 7 3 3 1 . 1 o L] East'n G&F pf(6) 260, 75 15 1 3 1 276 508 508 Am Cit P&L (A) 3 150¢ ::}f 1393 7 6 Int] Petr (t134)__. Int] Products.. Intl Util (A) ... Intl Ut (B) b Intl Vitamin(50¢c) Interst Ho M t2% Interst P(Del)pf Irving Air Ch (1). 1tal Superpwr(A) Jacobs(FL)Co(1) Jeanette Gl a40c . JerCen P&Lpt 6% JersCen P&L pf 6 Jonas & Naum . Jones&Laugh Stl. Kans City P S vte Ken RT&L A a75¢ Kingston Prod 40c Kingsbury Brew . Kirby Petr (20¢) Kirkland L G (6¢c) Koppers pf (6) Kreuger Brew (1) Lake Sh M (14) _. Lakey Fv & Mach. Leh Coal&N a60c.- Leonard Ol - Lion Oil Ref (1)__ Locke Sti Ch 80¢ Lockheed Afrcraft Lone Star G aé0c Long 1sland Ltg Long Isl Lt pf B 6 Loudon Pk'n t50c La Land (40c) __. Lueky T (+12¢) __ Majestic Ra&Tel Mangel Stores MangeTStoer pf__ Margay Oilas0c - Marion Steam Sh Masonite Corp(t1) Mass Util Associa Massey Ha Mem Nat G(a50c) Mercantile Stores Merritt Chap & S Merritt C&Spf A Mesabi {ron Mex-Ohio Oil Mid Sta Pet (A) Mid Sta Pet (B) Mining Co (Can) . Mock Judson 60c Moh H P&L 1st(7) Mohawk H 2d pf Molybdenum Corp Monroe L S(A)32¢ | Mont Ward A (7) | Montr HLt&P 114 4 | Moody's pt pf (3) | Moore Dist (t50¢) | sount Prod (60c) 29% | Mueller Brass 1 % | Nat Auto Fib t134 | Nat Bella Hess Nat Bd&Sh(adl;) | Nat Contain asoc. | Nat Fuel Gas (1) Nat Gyps A a2l . Nat Investors Nat Invest war.__ at Leather % | Nat Mfg & Stores | Nat P& Lt of (6) Nat Rub Mch a20c Nat Sugar N J (2) Nat Transit (75¢) t Unfon Radfo | Nehi Corp | Neptune M A aboc | Nev-Calif Elec | NJ Zine (r2) | New M&A Ldale Newmont M a3s¥ N Y & Hound «t1) N Y Tel pf (615) N Y Water Sve pf Niag Hud Pw ad0c Niag H P(A) war Niag § Md B aétc Nipissing (as0c) 118% | Noma Elec (a40c) | North Am L&P 18% 608 9 % | North AmL&P pf 13 | N A Rayon A t13 164 : North'n Europ Oil 2234 | North States P A 8%, | Novadel Ag (2) 3734 | Ohio Brass B (t1) 8L | Onio Edis pf (6) 9 1 0Ohio Ol cu pt (6) 13| Okla Nat Gas Co 17% | Okla Nat Gas pf 19% | Oldetyme Distil oy | Pac G&E 1st (1%) | Pacifie Lig pf (6) | Pac P& L pfa10iy [ Pac Publie Service l Pac Tin spec «12) % | pan-Am Air (t1) 14| pantevec O11 L% Pat Plvm Mia2) '« | Peninsular Tel 11 @l Pennroad (a25¢) 2% Penn P& L (6) _ Y| Penn P& L (T) ’7%\ Penn Wat & P (4) 193 | Pepperell Mfg(16) Phillips Pkg a50¢ | Phoenix Secur Pie Bakeries t1.60 Pierce Gov (a30c) Pion’r GM Ltd 80¢ Pitney Bow (t40c) Pittsbgh Forging Pitts& L E t2% Pitts P1 Gl (a6) _ Plough Inc (1.20). Potrero Susar Powdrell&Al t60c | Premier Gold t12c 221¢ | Pressed Met (12) _ 6% | Producers Roval 60 | Prosperity Baly | Prudential Inv (1) Pub Sve Ind pf Pub Sve Ind pr pt Pub Sv Okla pl(6) Pub Ut Sec pr pf “ug Sd P&L pf(5) Pyrene Mfg(a90c) Quebec Power (1) 18 1 1 6 3 1 208 Iron Firemen(t1) 3008 1 3 68 200 15 1 1 3 25 1 19 9 1008 2 3 10+ 3 6 20 1008 3 21 9 3 k] 1 3 1 16 1 1008 1258 13 2 60s 2 3768 2 8 5 5508 1808 508 6 3 400 250 1508 2 1 7 1 8 8 508 1 6 13 2 258 268 1 . 6008 8 i 508 1oe 4 508 3 334 108 50s 15 108 100 1 258 1 10 3 18 16 208 3 1 4 2 | Pwr C'p(Can)aZ5e 2258 50 o 3 1 3 40 1104 108 508 26s Pug Sd P&L $6 nf 375+ 2 508 | Ry & Lt Sec al.55 100s Raymond Con a50¢1150s Raym’d Con pf(3) 1768 Raytheon Mfg vtc 8 Red Bank 3 ' 0 15315 153% | By the Assotiated Press. NEW YORK, December 31.—Bank .: clearings in the United States for the 7% 98 % 214 21% 6% 6% 2 2% 5 By %4 10634 1063 20 20 57 last five days of 1936, although lower than the total in the full week pre- ceding, made a good showing over a year ago. The total for 22 leading cities, as 2 reported to Dun & Bradstreet, was $5,839,342,000 for the five days ended December 30, against $5,003,806,000 in the five-day 1935 week, a rise of 16.7 per cent. This contrasted with an in- % | crease of 69.1 per cent a week earlier. Had there been one more business day, with figures at the same high daily rate, the seven-billion-dollar mark again would have been reached, the agency said. The amount at New York City was $3,730,710,000, an advance of 14.9 per 6% | cent over the $3,247,538,000 in the corresponding period in 1935. Out- > side centers aggregated $2,108,632,000, which was 20.1 per cent in excess of the $1,756,268,000 reported in the sim- flar 1935 week. At individual cities gains ranged from 6.5 per cent to over 1% 70 per cent higher than the compara- o) 14 3 13% 138 102 102 1143 1143 | 34 3 364 38 [ tive 1935 totals. Only one city, Omaha, showed a decrease, but this was small. Clearings dropped $1,923,326,000 un- der last week’s figure. Between the two comparative weeks in 1935, there was a gain of $414,856,000. Figures at leading cities, together with percentage gains and declines, compared with those of 1935 follow, also daily average bank clearings for October, November and December to date: (Jn thousands of dollars.) Five days, Per cent Dec. ., 1 change. Ph.lmelwll ] Buftalo Pittsburgh _! Cleveland Cincinnati™_ San Prancisco Portland. Oreg. . Seattle 615 61 431 43n £ 34 2% Total | New York _ Total all . | December tober j‘roowus IS ENCOURAGED n 3% 6514 3614 “ 37¢ 35 5 1073 1093 13% 324 8% 317 10, BY RAILROAD OUTLOOK Bs the Associated Press. CHICAGO, December 31.—L. A. Downs, president of the Illinois Cen- | trar System, describes the railroad outlook as “truly encouraging” in | year-end comment. “Their prestige has veen greatly en- nhanced by a record of continuing prog- ress and achievement and they are pre- | pared to meet the demands of the new | year,” he said. “Progress is the one word which sums up the 1936 record of railway | transportation. There ha$ been con- | tinued progress in ine improvement of service, in the increase of business and in the recovery of emplownem > NEW YORK BANK STOCKS | , NEW YORK. December 31 ().—Ni York Security Dealers: Association: (Quotations as of 2 o'clock.) Bid. 31 | Asked. Bk of Man (1'3) Bankers Tr (@ First Natl (100} Guaranty 1r (1) Irving Tr ¢ 60) _ Manufacturers Tr 2} v ( NV Fruse ¢ Public (1'3) |Title G & T % | Tastyeast(Del)A TIME IS EXTENDED. CLEVELAND, December 31 (#).— E. J. Kulas, president of Otis Steel Co. announced today the board of direc- tors has extended from December 23 to January 30 the time before which | ; certificates of prior preference stock must be surrendered for exchange un- der a plan of recapitalization declared operative by the board on December 3. —_——— Etock and Sales— Dividend Rate. Add 00 High. Low. Close. SaE N 5 4 4 21 2K 24 5% Tavlor Dist (30c) ‘Technicolor a50e Tech Hughes t40c 8 5% Texon 011 & L 60c 2 Thew Shovel a50c 150s 46 Tilo Roof (t50c) 1 Tob Prod Exp 16¢ 1 Todd Shipyd (12) 100» Toledo Edis pf (6) 1 Tol Ediz pf A (7). 408 Tonopah Min aéc Tri-Contl C war Tr-Lux DPS t20¢c. ‘Tubize Chatillion Tubize Chat! (A) 6 15% 12% 120{ cline amounting to| 33 per cont lasted 15 months TAERE Illlll [| Figures are corrected ler seasonality and therefore thew changes in business ir- of season Most Producers Boost Copper To 12 Cents a Pound| B3 the Associated Press. NEW YOR3K, December 31.—The domestic price of copper was ad- vanced today from 11% cents to 12 cents by most of the leading pro- ducers. This is the highest quota- tion since June, 1930. The boost was made effective by Kennecott Copper, Anaconda, Amer- ican Metal Co. and others, circles reported. trade by Phelps-Dodge interests, which are mong the largest producers, but it ) | was said this was due to the fact s ‘lhn the company has been virtually | out of the market for some time ow- ing to heavy forward sales. It was expected the company would meet the price soon, however. {NICKEL INDUSTRY ADDS TO CAPACITY Final 1936 Statistics Expected to Show New Peak in Volume and Diversification. By the Associated Press. NEW YORK. December 31.—“Sta- | tistics for the first 10 months of 1936 indicate that the vgar will establish new records for the nickel indus- | try in volume and diversification of werld consump- tien” declares Rcbert C. Stanley, president of In- ternational Nickel Co. of Canada. “Because of the ncrease which has been steadily maintained in the demand for nickel | since the low point in 1932, im- Robert C. Stanley. to productive capacity were made dur- ing the year in Canada. the United Kingdom, the United States and else- where. | “World consumption cf nickel in all | | forms during the first 10 months of the year totaled some 162.000.000 pounds, an increase of more than 2§ per cent over the corresponding figure in 1935. This compares with 112.000,- 1000 in the first 10 morths of 1929.” FEDERAL LAND BANKS NE'N YORK. December 31 (#).—Federal | Land Bank bonds: Bid lu.i-h Asked 1071, 101 1004 4's Nov. DIVIDENDS ANNOUNCED NEW YORK. December_ :1.—Dividends declared (prepared by the Standard Statis- Pay- d. able. | Eagle Lock ey | Gt Western Sug H | | 92 rp & Doh S 1 CHICAGO PRODUCE. CHICAGO. December i1 ™. —Butter. 8. steady: _prices unchange Eges. Extra firsts, cars and local. s, cars and local. refrigerator sts, 25V, S8 trucker unsettied, Hens. 5 Kunda upl, I8 less than 412 ounds: 14 Lechorn hens'12: Springs. 4 pounds p, colored. 16: Plymoith and White Rge an | ical Smelting & Refining Co., Amer- | No advance was made immediately | nortant additions | EDISON INSTITUTE HEAD CITES GAINS C. W. Kellogg Points to Sharp In- creases in Output, Domestic Sales and Capacity. BY the Associated Press. NEW YORK, December 31.—A big year for the electric light and power | industry is outlined by C. W. Kellogg, | president of the Edison Electric Insti- | | tute, in a review of 1936. He notes: at 109,000,000,000 kilowatt hours, an ! increase of 13.5 per cent over 1935 and 17 per cent above the 1929 pre- depression peak. | Domestic service sales of electricity increased to 15,375,000.000 kilowatt | hours, compared with 13.978.000.000 in 1935 and 9,773,000,000 in 1929. Upward of 440,000 kilowatts added | | to generating capacity, including 85, 000 at boulder dam and 82,500 in Tennessee Valley. *Average rate for domestic service | cut to 4.74 cents a kilowatt hour, com- pared with 503 in 1935 and 6.33 in 1929. Net income available for dnldends' and surplus up about $46,000,000 for | the industry, a gain of 11 per cent, partly as result of reduction in in- terest charges through debt refunding. THE WEATHER District of Columbia—Fair tonight and tomorrow; colder tonight, with lowest temperature about 36 degrees: moderate westerly winds, becoming variable. Maryland—Fair tonight and tomor- row; colder tonight and on the coast tomorrow. Virginia—Fair and colder tonight: tomorrow increasing cloudiness with somewhat colder on the coast. West Virginia—Fair aad colder to- night; tomorrow increasing cloudi- ness. River Report. | Potomac and Shenandoah Rivers | muddy today. Report for Last 24 Hours. ‘Temverature, B: Yesterday— d : Record for Last 24 Hours. «From noon yesterdav ro noon today.) Highest. 38, at noon todsy. Year ago. i Low a 30 p.m. yesterday. Year Record Temperatures This Year, Highest. 105. on July 16 | Lowest. 0 on January 23 i Humidity for Last 24 Hours. | (From noon vesterday to noon today.) | Highest. 9K per cent. at & yesterday. Towest. 04 per ceni. at ) p.m. yes- | terday . Tide Tables. (Purnished by United States Geodetic Survey.) T Coast and Automobile lights must be turned on one-half hour after sunset Pregipitation. Monthly precipitation in inches in the Capital (current month to date) 522235202 2 AP IRDEZ C R P E ot 23 Weather in V-n-nx Cities. p. Rain: o HnLw fall. Weath'r 04 58 36 Clear Tomorrow. | Taylor Is Cheered By Bright Outlook For Steel Firms | B the Associated Press. NEW YORK, December 31.—Myron C. Taylor, chairman of the United States Steel Corp., said today: “The steel industry enters upon the new any year since 1930 and with indication that it will be a better year than 1936 has been.” “New business booked by steel mills in the last quarter of 1936 has been Electric output for 1936 estimated | in most encouraging volume and is | sufficient to enable us to start 1937 in fine fashion,” added the head of the industry's biggest producer in a vear-end statement. “Especially gratifying at the mo- ment are the increasing evidences from the field of railroad transporta- | tion that long pent-up requirements in that field are in substantial measure about to be satisfied.” ELECTRICITY PI.AYS STILL BIGGER ROLE | Fogarty, President of North Most Financial J.F American Co., Points to Huge Advnnceu During Year. v Cambridge Associates.) l:lectnclty had a more prominent by Officers. By the Associated Press. Sales of General Motors common stock in November featured the Se- curities Commission’s summary today of transactions by officers, directors and principal stockholders of corpors- tions during that period. Donaldson Brown sold 6,833 shares during the month, Alfred P. Sloan, jr. | sold 6,436 shares and John Lee Pratt | disposed of 613 shares. John J Raskob transferred 10,540 shares of the common stock from direct owner- ship to a holding company. An amendment report for Octob-r revealed Ronald K. Evans received 1,512 shares of General Motors com- mon as compensation. David B. Stern disposed of 3.201 shares of Gillette Safety Razor durin~ the month and Ogden L. Mills of 6,505 | shares of National Biscuit common. ' Other Sales. Other sales included 33.400 shares of 8. 8. Kresge Co., by 8. S. Kresge: 10,000 shares of Sears, Roebuck & Co., by Lessing J. Rosenwald; 2,000 shares Bethlehem Steel common, by Charles. D. Marshall; 2,000 shares of Conti- nental Can common, by Carle C. Con-. way; 2,000 shares Anaconda Copper | Mining common, by William D. Thorn- ton; 2,000 shares Chrysler common, by | Pred M. Zeder; 1,400 shares of Ameri- can Locomoctive common, by Albert H. ‘Wiggin; 50,000 shares Hudson Bay Mining & Smelting common, by C. V. which represented the entire holdings of Samuel Wechsler. Stock Gifts. Stock gifts during the period (th~ names of recipients are not disclosed ) included 1,606 shares of Sears-Roe- buck and Co. common, by Lessing J. Rosenwald; Donald M. Nelson, 3C0 shares of the same stock; Herman ' Levy, 3,300 shares of Century Rib- bon Mills common: Irving Levy, 700 shares of the same security. Other gifts included 400 share: of Standard Oil of Indiana by Ed- ward J. Bullock; 2,640 shares Pack- ; ard Motor common, by Alvan Macau- !ley; 4.500 shares Oilstocks, Ltd., by lJohn L. Weeks; 900 shares Firestone | Tire and Rubber common, by John \W ‘Thomas and 629 shares Ger-ral | American Investors Co. common by Philip Lehman. — . And Commodi: Markets to Clc role in American life during 1936 than ever before and its increased use, both 1n greater quantities and in new appli- reflected continued improve- ment in general business, according president of the cations, to J. F. Fogarty, ! North American Co. While final figures for the North American Co.’s subsidiaries are not yet available, it is estimated that their electric output for 1936 was more than 10 per cent in excess of that for 1935. Aggregate sales to customers in the major classifications, residential, in- dustrial and commercial, established new records for our present subsid- !iaries Residential customers now total about 1020000 for our four groups of subsidiaries, which operate in territories centering in Cleveland, | Milwaukee, St. Louis and Washington. D.C. These customers used an average of more than 875 kilowatt hours per cus- tomer during 1936, and the average price they paid was approximately 3.58 cents per kilowatt hour. | Gross expenditures for additions to plants and systems of North American | subsidiaries during 1936 amounted to approximately $16,000.000, compared with $14.800,000 during 1935. Con- struction expenditures for the past year were principally on account of transmission and distribution facili- ties. While generating facilities are ample for present requirements and for expected increases during 1937, | major additions are now in progress |1n anticipation of continued increase stallation in 1938. turn to Forty Years of Experience Bonté in demand and are scheduled for in- | By the Associated Press. NEW YORK, December 31.—Mr- financial and commodity mark throughout the world will close N Year day and the majority of thc will extend the holiday-maki ! through the foliowing day, Saturda January 2, a survey today showed. e principal exceptions tc the Se urday closing rule will be the N York Stock Exchange and other Ame ican securities markets. = P LISTINGS AND VOLUME GAIN SHARPLY ON CURC By the Associated Press. NEW YORK, December 31— Heaviest trading in stocks since 1930 and a sharp increase in new listings were highlights of 19368 for the New York Curb Exchange, says Fred C. MofTatt, president. “An indication of the increased public interest in stocks during the year was the more numerous sessions in which daily turnover exceeded & million shares,” he observu FILING CABINETS STOCI(ET'I"- FISKE DUCING C'I'A'I’IONII. ODIDE ST ‘N W COUNTED ONE OF THE SOUND INVESTMENTS Large and small investors—who want a conservative investment our FIRST MORTGAGES They like the liberal interest, fixed in rate; and the security for gal of improved real estate. esitate to make inquiry. B. F. SAUL CO. ~ 1031 10314 g 114 ,,,.‘;l,m:@ First Mortgage Investments Bismarck. N. D. Electrographic t1 2 Bomw-. Mass Emp G&F 6% of 700s Emp G&F 61 % pf126¢ Emp G&F 7% pf 450s Emp G&F 8% p* 2008 Emp Pwr ptal.30 150s Emsco Derrick 1 3 Equity Corp(a2sc) 20 EuropnElbdrts 4 pounds, colored. 16; P]|y 7. color!d Bl’c REAL ESTATE National 2100 ' 925 15th St. N.W. M ORTG A G E L O AN S ééou‘ Zetm CONSTRUCTION LOANS in District of Columbia or nearby Maryland SIX MONTHS TO ONE YEAR 3:% Upon completion of buildings, these loans may be extended on one of several long term monthly payment plans; or for three or five years, without curtails; interest semi-annually. H. L. RustT COMPANY 1001 FIFTEENTH STREET NATIONAL 8100 Reed R B new 180¢ Reybarn Co a25c .. Reynolds [nvest Rice Stix DG b50c Richm’d Radjator Roosevelt Field Root Patrolm(1) .. Root P cv pf 1.20. Rossia Intl Corp.. Rustless [r&St] Ryan Consolid'd . St Anthony Gold St Reris Paper Schulte R E(d) .. % | Segal Lock & H Seiberling Rubber Selected Indus 1 Sel Ind all cfs 5% 500 Sel Ind pr pf (5% )100s Sent Saf Control K Seton Leath ab0¢ Seversky Alrcraft Shattuck Den Min Sherwin-Will (4) Sher-Wwill (Can) Sonotone C (a10¢) So Penn Of1(t1%) South'n Colo P A Southn P L 20¢ Southn Union Gas Sou Royalty t40c. Spen Chain 8t 60¢c Square D pf A 3.20250s 3 | Stand Brewing 3 Stand Dredging 3 334 | Stand [nv cum pf 100s Std Ol Ky (11.40) 19 Stand O Neba2c. 17 Stand Oil Ohio 1 4 9% | Stand Pwr& Lt 120 Stand P& L (B) 20 Stand Prod (a35c) l: 18 1 fung-Sol Lump n Twin-Coach 1.40 Ulen & Co 7% % Pt Umit Air war Unit Corp war Unit Gas Cor} Unit Gas C war Unit Gas pf(33%) Unit Lt & Pw (A) Unit Lt & Pw pf 6 20232 =) 3 2 3 15 21 12 . 2 turkeys, | 18 fucks: 413 ‘Gounds up, white ang ca: §:: grea, 1% sman white and ‘colored 13: P : ‘iecline | Hens. young. 2. old. 19: . young, 1R W“nd! up, 20; less than 18 pounds, 21; O otaiore 82 on Hack. 199: total U, 8. fllllfl x4 a otal Unit Prof Shaloe 3 shipments. 786 Idaho Russets dull other Adiana bl i Unit Shoe M 121 200s tock about steady: supplies ]llhl demand ;. Unit 8 Mot (1%) 108 - ':’: | ST isan: car. 5. | Lo% Anceled U 8 Finishing D80 Y F Louisville. i U 8 Finishing pt 5&2‘.‘..«'.?.‘ 2; 2RIF2RS £h 0@ = 28 cnr Ramwmnmn D13 R332 T Ut 5 We UGKE 5'&: ‘55 A 108 FOREIGN BONDS. Ml/. lm’ m-/. 18 ltl\;'/c !nl‘/( lnl Ya Ex: Huron, 8. Dal Fairchild Av alsc. Falstaff Br (al %) Fanny F C (150¢) 4 11 T McClures, U Alads: Wyor Bliss No. 1. ‘and partly mdzfl Tound whites. U. 8. No. 1" | HTRU. |§ conim%re n ‘mal Nel usset Rural o. <. e, Bligs” Triumphs. Uy S e few sales. 2.00a10: 8. 2. \m‘gg' n P Texas. 50-pound sacks. Bliss -mmp_m fair LT quality. medium sise. few sales. 1.75 Sosts 3 253355235 3% 29, 223 22 2 Fisk Rubber Fisk Rub pf (6) FlaP& Lot Ford Ltdal81-10¢ 2 Ford (Can) A (1) 16 Ford(Can) Balsc 26 Froedt't cv pf 1.20 50» Gen Alloys kK Gen Firepr'f t40c 2 Gen Invest Corp 4 r ihe flscal year h"r'é“ Gen Out Ad pf $12 w. [ Gen Tele C'pal.36 2 ;i.‘ 513.50! 94 o excess | Gen Tire & Rub ditures, % Glen Alden C (11) B i Bt ol 5 8 Godchausx Sug(B) m d “of “inactive” gold. A L TR ' P 5‘2! wBanfealmnne g:‘-;gs."_.x;...a;‘.. S U 8 Rub Reclaim U 8 Stores 1st pf Unit Stores vtc Unit Verde Bx (1) Unit w-ll Paper - Utah unnuut:z 1% l'lll Utilities P:A‘(‘I‘: ‘ Utll Pwr&! Uti) Pwr & Lt pf m: 1 2z 2915 3 s U. 8. TREASURY POSITION. ly the Associated Press. ¢ position of the Treasu 22, ) l?!l 914,.357 069 7 0!7 A c\llwml ’ 2,268 .37. £ R I'OEEIGN XAB.KETS LONDON. ember 31 (#.—Despite ?'mn mnet! tnmnl v.ho eluhv:" “’5:’1 was B =af e s S e particularly ‘which ‘commun good Ing Industrials were o nance. bui the, tobaceo snd tions held l::cld!. Rul r film modity, ". n‘x’t.-lelax.ela .ecumu- gu T osed Frids l’lll\l ‘in banking prleu . ihe:"' i nigher levels n ih urse todsy a turned trre 3 290 o 22 £ Louis. Mo._ snme Wash ipok: ‘Wash. ane. mes. Hls. ASH. g the B2 43 INTEREST COMMISSION 1% Utility Equities - gncount Util & Ind (new) Utflity & Indus of Venezuela Mex O Venezuels Petrol ‘Waitt&B'd A a50¢c Wayne Pump (50¢ Well't'n Oil of Del Wentw'th Mf 1.20 W Va Coal & Coke West Au Sup A 14 600 Will 011-O-M as0e Wil-low Cafe pf Wolverine T $60c. Woodley Pet t40c Wright Harg t40c Ygstn St Door 1 Yukon Gold(al3e) POREIGN STATIONS. .m.. Greenwich time. today.) 7 a . Green erature. Weat um 1 wene~ e w i npeatly Ravince: ar L'.'.‘. ined 575 Tranca. and Reva1 Duteh ed W5 ) Bourse wi losed 65 points higher. The gdl! and Saturday. MONTREAL SILVER. iber 31 (P .—Silver to 1 Decem! opened steady, unchan 0 Mareh, 46455 My, o500 uby, im. Glbraltar. ’”6?: SR “? D). Azol Stand S11&L4 (4¢) im Starrett Corp vte Sterchi Brosa3oc uu Sterling Bra%6c . 1934 | Sterling Inctase) 134 | Stuts Motor - 103§ | Sullivan Machine. 28 | Sun Ray Dr t80e_. 40 | SBunray Ofl (a10¢) 18% | Sunshine Min (3). 20)4' Taggart Corp...... M futures lower. 48.55b. rmum.nm I’IODUOE J\ 2 Goldfield Consol 13 Gorham vtc ex(1) 3 Grand N;tl F!::u, .: Gr Rap Var(160c] NEW YORK PRODUCE. |OrRapVaritste) 2 31 0m.—Eges. Grt Nor Pap (11) £00s 38 ?,gf,;_, a0 Greenfleld T&D 3 ¢, | Groe Store Prod 3 . l m | 4ulf O11 Pa new 3 other ‘mixed olors nntinn Hall Lamp 180¢) 2 97 B fl mm“m.n.la anged. tfordEl Lt 2% 808 Yl man Tobacco fortedlored: i gty Bt "B T, | HarTD Ty HET“- m- ight prices unchanged. Hecla Min (a60c) Helena Rubenst'n Heller Walter E .. oo 1 51 75 fllhlr! efi 0. &‘fi.;%aft LT T Py Mlli' NEW YORK. Deumier 31 m E'EE{"-;? July, 2 ai.l' 4 . §8:380c0a,852%F EBclErsnsa s