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CONVERTIBLE BOND ISSUES IN DEMAND Remainder of List Turns Dull. Junior Rails Are Irregular. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK. January s—Moderate activity occurred today in convertible bonds, while dullness ruled in other Issues. The leading convertibles in point of volume and strength were International Telephone 4 ‘4s, Colon Oil 6s. Interna tional Cement ss. Public Service of New Jersey 4'aS and Barnsdall Oil 6s. Os these the largest gains occurred in Public Service and Barnsdall issues and ranged from 2 to 2% points. New York Surface Line Traction ad justment bonds gained a point. There has been a stronger market for all of the local tractions since the brief in connection with the application for higher fares was filed. The junior rails were quiet and ir regular. St. Paul adjustments gained fractionally and there was a better tone to the Seaboard Air Line issues. Some of the Southwestern road bonds were lower. Foreign government and municipal Issues showed little change. Some im provement has occurred during the week in the bonds of countries in Southeast ern Europe. Japanese descriptions were steadier, as were Germans and Italians. The most important change in the United States Government list was a decline of U in the Treasury 4Us. . • ■— Washington Stock Exchange SALES. Potomac Electric 6s 1953 —$500 at 108. Washington Gas 6s “B”—$100 at 106. Washington Rwy. & El. gen. 6s —$2,000 at 102%. $1 000 at 102 - Capital Traction Co. —3 at 105%, 10 at 105 7 g. 15 at 105 T B. 10 at 105 7 *. Potomac Electric S' 2 t» pfd.—s at 108 - National Savings & Trust Co.—3 at 510. Washington Loan & Trust Co. —1 at 523. D. C. Paper Mfg. Co. pfd—ll at 88, 6 at 88. 5 at 88, 5 at 88, 3 at 88. Merchants’ Transfer & Storage com.— 10 at 128, 4 at 127, 2 at 125. Merchants’ Transfer & Storage pfd.—s at 107, 10 at 107, 5 at 107. AFTER CALL. Washington Gas 6s ‘ B”—$200 at 106. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Bid. Asked. Amer. Tel. A Teiga. 4% 89 Amer. Tel * Telgg. 4!*s 99'* Am. Tel. A Tel. ctl. tr. 5s 108*4 ..... Anacostia & Pot. R. R. 5s 95 97 Ana. A Pot. guar. 5s 95 C. A P. Telephone 5s 99T* ..... C. * P. Tel. of Va. 5s 102*4 103% Capital Traction R. R. 5s 102% City & Suburban 5s 95 97 Georgetown Gas Ist 5s 102*4 Pctomac Elec. Ist 5s 99’/* ..... Potomac Elec. cons. 101% 102'/* Potomac Elec. 6s 1953 I®!* 1 * Wash.. Alex. A Mt. V. ctf .... 2 4 Wash.. Balto A Annap. 55... 76 ... Washington Gas 5s 102'2 103% Wash. Gas. 6s. series A 104 hr 105% Wash. Gas. 6s. series B 105% 107 Wash. Rwy. & Elec. 4s 9t 92 Wash. Rwy. <fe Elec. gen. 6s 102'/* 102% MISCELLANEOUS. Barber & Ross. Inc.. 6',is 94 95 Cham-Varhlt Hotel 6%* 94 . ... Chestnut Farms Dairy 6%s 107 107'.* ' Chevy Chase Club s',is 101% ..... < D. C. Paper Mfg. 6s .......... 94 97 ■ Pot. Joint Stock L'd Bk. 5s 96 w. M. Cold Storage 5s 96 ._... 1 Wash. Cons. Title Co. 6s 100 103 Wardman Park Hotel 5%s 104% 105 STOCKS. PUBLIC UTILITY. Amer. Tel. & Teiga *195 ;!••• | Capital Traction Co 105*4 106 ! Washington Gas 104% 106 N. & W. Steamboat. 300 .. .. , Totomac Elec. 6'- pfd.......... 111*4- 112'* Potomac Elec. 5%'" pfd 108% 108% Wash. Rwy. A Elec com 500 527 Wash. Rwy. A Elec, pfd 89% 99% NATIONAL BANK. National Capital 250 290 Columbia 400 450 Commercial 258 280 District 240 250 Federal-American 336 330 Liberty 255 275 Lincoln 420 National Metropolitan 405 450 Riggs 555 560 Second 255 National Bank of Washington. 305 325 TRUST COMPANY. American Security A Trust C0.*452 460 Continental Trust 135 ..... Merchants’ Bank 154 160 National Savings A Trust 510 520 Union Trust *358 365 Washington Loan A Trust 523 550 SAVINGS BANK. Bank of Bethesda 73 80 Commerce & Savings 330 East Washington . 39 42 Potomac 7 315 330 Security Sav. & Commercial... 500 530 Seventh Street 320 United States 600 Washington Mechanics 50 FIRE INSURANCE. American 300 Corcoran 150 Firemen s 38% 45 National Union 26% 28 TITLE INSURANCE. Columbia Title 14 Real Estate Title 225 235 Title & Inv Co of Md. com... 45 Wash. Cons. Title pfd 50 52 MISCELLANEOUS. Barber A Ross. Inc., com 20 22 Chevy Chase Dairy pfd 106 110 Chestnut Farms Dairy c0m..... 205 223 Chestnut Farms Dairy pfd. ... 107% 108 Col. Sand A Gravel pfd 91V* 93% Commercial Natl. Co. pfd 103 D C Paper Mfg. pfd 88 District National Securities pfd. 100% Federal Storage pfd *l2O Federal-American Co. com 53% 55 Federal-American pfd 101 105 Lanston Monotype 118% 121 Merch. Trans. A Storage 128 130 Merch. Trans. A Storage pfd.. 107 108 Mergenthaler Linotype 103% 104 Nat! Mtge. A Inv. pfd 5% 5% Peoples Drug Stores pfd 129 Security Storage 124 ..... Ter, Ref. A; Whrs. Corp 50 54 Wash. Conv. Hall pfd 75 95 Wash. Mech. Mtge. com 11 14 Wash Medical Bldg. Coro 125 Woodward A Lotlirop i .... 107 •Ex-dividend. Unlisted Department. BONDS. , . . Bid. Asked. Army-Navy Club 5s 90 Cosmos Club 4%s 90 Commercial Club Ist 5s 85 City Club 7s 50 Metropolitan Club 4%5. 92 STOCKS. Anacostia Bank 325 Chapin Sacks ,5 Chapin Sacks 7’« pfd....;... 40 ..... Chapin Sacks B',. pfd 106 108 Connecticut Pie Co 140 Chr Heurich Brewery 12 Departmental Bank 6 District Title Insuiance C 0.... 45 Frcnkiin National Bank 160 International Bank 100 . •••• Miller Train Control 1 2 Munsey Trust Co ... 150 North Cap.tol Savinas Bank.. 14% Northeast Savings Bank 20 ..... Park Savings Benk 66% 80 Raleigh Hotel C 0... 80 83 Washington Savings Bank 1* Washington Title Insurance Co. 11 • Washington Base Ball Club .. 48 75 Woodridge-Langdcn Sav’ns Bk. 25 « FEDERAL LAND BANK BONDS Special Dispatch to The Star. NEW YORK, January 5. Bid. Asked. Land Bank 4s May 1958-38 ... 94% 95% Land Bank 4s Nov. 1957-37. ... 94% 95% Land Bank 4%s November 1958 98% 99 Lend Eank 4%s Jan. 1957-37... 98 99 Land Bank 4%s May 1857-37 .. 93 P 9 Land Bank 4%s July 1956-36. .. 97% 98% Land Bank 4’•& May 19420p32. 98% 99 Land Bank 4%s Jan. 19430p23. 98% 99% Land Bank 4%s J.&J. 19530p33. 98',« 99% Land Bank 4’ ■% J.AJ. !9550p35. 99% 100% Land Bank 4%s Jan. 1956-36... 99% 100% Land Bank 4*.s J.AJ. 19530p33. 99*4 100'. Land Bank 4%s Jan. 19540p34. 99% 100'* Land Bank 4%s July 19540p34. 99*4 100% Land Bank 5s Nov. 19410p31 99% 100% Land Bunk 5s May 19410p31.... 99% 100% - BALTIMORE STOCKS. BALTIMORE. January 5. By Special Leased Wire to The Star. Sales. Last sale. 123 Atlantic Coast Line Conn 180 4 Baltimore Tube pfd 62 5 C A P Telephone Balto.. pfd.... 113% 6 Consolidated Gas 5% cum pfd A. 102% 50 Consolidated Coal com 19 13 Consolidated Coal ptd 65 5 Eastern Rolling Mills com 30% 10 Fidelity A Deposit Co 303 11 First National Bank 80 15 Manufacturers' Finance Co. pfd.. 21 51 Maryland Mortgage Co. com 32% i 1 Merchants A Miners' Trans 44 I AMt Vernon-Woodbtjry-Mills pfd.. 83 4c United Porto Rican Sugar com •. 40 FINANCIAL*/ ON NEW YORK "BONDS STOCK EXCHANGE] j Received by Private Wire Direct to The Star Office UNITED STATES* are In *I.OOO • Sales. High Low Close Lib 3%5... 17 99 25 99 25 99 25 Ltb Ist 4%s 11 100 7 1006 100 7 Lib 4th 4%a 115 100 8 1005 1008 U S4s 1944 . 6 106 11 106 11 106 11 US 4%s 52. 7i> 111 8 ill 7 ill 8 FOREIGN. Argentine 6* Jii 69. 6 100 100 100 Argentine May’6l. fi 10(1% 100 100% Argentine 6s oct 59 19 100 99% 100 Argentine 6%5’62. 11 95% 95% 95% Argentine 6s A.... 45 100% 99% 100% Argentine 6sß 11 100% 100 100% Austialia 4%s 56.. 1 88 88 88 Australia 6s 1955.. 22 96% 96% 9t>% Australia 5a 1957.. 6 96% 96% 96% Austria 7a 1 102% 102% 102% Bank of Chile 6%5. 1 98 98 98 Belgium 6s 92 100% 100 100 Belgium 6%s 12 106 105% 105% Belgium 7s 1955... 20 108 107% 108 Belgium 7s 1956... 17 106 106 106 Belgium 7%e 5 115 115 115 Belgium 85........ I 109% 109% 109% Bolivia 7s 1 94% 94% 94% Bolivia 8s 6 103 102% 102% Bordeaux 65....... 7 99% 99% §9% Brazil 614 s 1926..,. 13 94% 94% 94% Brazil 6%s 1927.... 12 94% 94% 94% Brazil la 6 102 101% 102 Brazil 8s 20 108 107% 107% Bremen State 75... 5 102 101% 101% Canada 6s 1931.... 10 100% 100% 100% Canada 5s 1952.... 6 104 103% 104 Canada 5%s 1929.. I 100 100 100 Chile 6s'6o 16 93% 93 93% Chile sis ’6l 28 93% 93 93% Chile 7s 1943 6 102% 102 102% Colombia 6s Jan’6l. 1 30% 90% 90% Con Pow Japan 75.. 3 99 98% 99 Copenhagen 4%s 53 2 87% 87% 87% Cuba 6%s 4 102 102 102 Danish Mimic 8s A. 4 1 J.O 109% 109% Denmark 4%s 5 89 89 89 Denmark 6s 2 104% 104% 104% DE l 5%s Mch 53.. 1 103% 103% 103% Dutch East 16s 47. 3 103!* 103% 103% Dutch East 16s 62. 9 103% 103% 103% Finland 5*48 8 91% 91% 91% Finland s f 65'45... 1 96. 96 96 Finland 7s 2 100 100 100 French 7s 27 107*4 107% 107% French 7V4s 12 113 112% 112% German 7s 59 106% 106 106 Ger Am Bank 75.... 10 98% 98% 98% H*ftt 6s 1 100 100 100- Hungary 1 100% 100% 100% Italy 7s 30 97% 97V* 97% Italian PubS 75.... 25 95% 95 95 Japanese 6%s 24 101% 101% 101% Lyon 6s 1 99% 99% 99% Milan 6%s 16 91 90% 90% Netherlands 6s 54.. 5 100% 100% 100% New So Wales 575.. 8 93% 93% 93% New So Wales 585.. 10 94 93% 94 Nord 6%s 10 100% 100% 100% Norway 5s 1963.... 6 97% 97% 97% Norway 5V4 s 4 101 101 101 Norway 6s 1943.... 5 102% 102% 102% Norway 6s 1944.... 4 102% 102V* 102% Norway 6V4» 1952.. 1 103 103 103 Orient Dev deb 65.. 1 97% 97% 97% Paris-Ly-Med 65... 22 99% 99% 99% Paris-Ly-Med 75... l 103% 103% 103% Paris Orleans 5%5. 5 95 95 95 Peru 6s 67 wi 21 89% 89% 89% Peru 6s ctfs 38 90% 90 90 Peru 7s 8 102 102 102 Peru 7 V4s 10 107 107 107 Poland 6s 40 3 83'% 83 83 Poland 7a trets)... 26 88% 87% 88% Poland 8s 13 99 9g% 98% Porto Alegre 85.... 1 105% 105*4 1C5% Prague 7%s 4 105% 105% 105% Queensland 6s 2 103% 103V* 103'% Queensland 7s 3 110!* 110% 110% RhlneWst EP 65’53 5 96 95% 96 RhlneWst EP 7s’so 1 102 102 102 Riode Janeiro 6%s 11 95 95 95 Riode Jan 8s 1946.. 1 106 106 106 Rio Gr Do Sul 85... 6 106 105% 106 Rome 6Hs 19 91% 91 91% San Paulo City Ba.. 1 113% 113% 113% Sso Paulo 8s 1936.. 2 106% 106% 103% Sao Paulo 1960 l 106% 106% 106% Saxon (PW) 75.... 7 99% 99% 99% Seme 7s 42 31 106% 106 106 Serbs Cr Slav 75... 7 81 80% 80% Serbs Crot Slo 85... 3 95% 95% 95% Soissons 6s 2 98% 96% 98t>. Sweden 5%s 1 104% 104% 104!* Swiss 5%s 1946.... 4 102% 102% 102% SwissConfed 85.... 5 110 109% 109% Toho El Pow 75.... 1 99 99 99 Tokio 5%s 1961.... 7 89% 89% 89% Uld Kingm 5%s 29. 10 118% 118V* 118% Utd Kingm 5%s 37. 3 104 103% 104 Yokohama 6s w 1... 3 95% 95% 95% # MISCELLANEOUS. Abram&Straus 5%s 32 117 115% 116% AniAgriChem 7%5. I 104% 104% 104V* Am Chain 65 '33 1 93 98 98 Am Nat Gas 6%5’42 8 96 96 96 An Smlt & R Ist ss. 22 101 100% 100% Am Sugar Ref «»... 9 104% 104% 104% Am T&Tcl tr 45.. 2 99% 99% 99% Am T&Tcl tr 55.. 11 104% 103% 103% AmT&Taf 55.... 35 105% 105 105% Am Tel & Tel 6%5. 27 106% 106% 106% Am Wrtg Pap 65’47 3 85 85 85 Anaconda Ist 65... 14 105% 105% 105!* Anaconda cv db 7s. 42 198% 193 193 Armour&Co4%s 39 1 91% 91% 91% Armour Del 5%5... 6 90% 90% 90% Atl Gulf Sos 3 75% 75 75 Atlantic Refill ds,.. 3 101 101 101 Barnsdall 6s 1940.. 61 141 139 140 Barnsdl 6s w o war 59 99% 99% 99% Bell Tel Pa 5s 8.... 3 105 104% 105 Bell Tel Pa 5s C.... 1 107% 107V* 107% Beth Steel 5%s 53.. 6 103% 103% 103% Bethlehem Steel 6s. 12 105 104% 104!* Bklyn Edison 55... 4 104% 104'% 104% Certaln-Tds % s rets 4 80% 80 80 Chile Copper 65.... 16 95 94% 94% Colon Oil 65'38.... 4 4 112% 111% 112% Col Uas&El deb 6s. 13 99% 99% 99% Cun Coal Md Ist ss. 3 70 69% 69% ConGasN Y 1 106 106 106 Consumers Pow ss. 1 103% 103% 103% Cuban Am Sug Bs.. 1 103% 103!* 103% Detroit Edison 65.. 1 107 107 107 Dodge 6s 62 103 102% 103 Duquesne 4Vis 67«. 9 100 99% 99% East Cuba Sug 7%s 10 94% 94% 94V* Fisk Rubber 85.... 1 113% 113% 113% Gen Mot Ac Cor 6s. 24 103% 103% 103% Goodrich 6%s 10 107 107 107 Goodyear 5s rots... 14 93% 92% 92% Humble Oil 5s 37 100% 100 100 Humble O& R 5%5. 3 101% 101% 101% Illinois Bell Ist 55.. 10 103% 103% 103% Illinois Steel 4%5.. 3 98% 98% 98% Indiana Steel 55.... 1 104% 104% 104% Inland Stl 4%5'78. 4 92% 92% 92V* Inti Cement 6s 48.. 11 m% m% m% Inti Match 6s 47.... 8 98% 93 98% Int Mer Marine 65... 5 lot) 99% 100 Inter Paper 6s 7 97 96% 96% Int Tel&Teleg 4%5. 21 94% 94% 94% Int TelATel 4%s w 1791 112% 111% 111!* Kayser J & Co 5%5. 22 135% 135% 135% Kan G&E6552.... l 105 105 105 Laclede G 6%s 52.. 2 104% 104% 104% Liggett A Myers 7s 5 118 118 118 Loew’s Inc 6s 5 115% 115 115% Loew’s 6s w o war.. 3 100% 100% 100% Lorillard 5s 6 86% 86% 86V* Lori Hard 6V*s *lO 87% 87 87V* Lorillard (P) 75... 10 112% 112% 112% ManatiSug sf 7%5. 1 99% 99% 99% Midvale Steel 65... 6 99% 99% 99% Mont Pow 5s 43.... 1 103 103 103 Mor’s&Co Ist 4%5. 2 87% 87% 87% Nat Dairy 5‘45.... 75 97% 96'% 96% Nat Radiator 6%5. 2 75 75 75 N Y Edison 6%5... 2 115 115 115 NY Tel 6s 41 2 107% 107 107% NY Tel 6s 43 2 110% 110% 110% North Am Edls sis.. 21 101% 101% 101% No Am Ed 5%s '63. 6 101% 101% 101% Nor Ohio Tr & L 6s. 1 102% 102% 102% Nor States Pow sis. 4 101% 100** 100% Nor States Pow 6s. 1 105 105 105 Pacific Gas &El ss. 1 102'% 102% 102% PacT&T Ist 55... 1 102!* 102% 102% Pan-Amer Pete 65.. 2 106 105% 106 Pan-Amer Pete 75.. 1 104% 104% 104% , Paramount 6s 1947. 8 100 99% 100 Pathe Exchange 7s. 13 81 80 80% People s Gas sis. ... 5 104% 101% 104% PhllgCo 5s 67 w i.. 26 99% 99% 99% Phila&F.eadC&l sis. 1 901* 90% 90% Philips Petio 5%5.. 5 9:! 92% 92% [ Por me Am Tob 6s. 9 101% 101 101!* Postal Tel & C 5%5. 17 94% 94% 94% Public Service 4%s 65 19 : 189% 189% Puma Alegre 75.... 6 88 87% 87% Item Rnd 5%s war. 14 94% 94% 94% Sinclair 011 6s 1 99'% 99% 99% Sinclair Oil 6%5... 6 101 100% 100% • Sinclair Oil 7s 13 102% 102'* 102% Sinclair Crude 5 V*s 15 97'/* 97 97% , Sin Pipe Line 55... 5 91 94 94 ( South Bell Tel 55.. 1 103% 103% 103%. Southwest Bell 55.. 7 104 103% 103% 4 Stand Oil N J 5s 46. 15 102% 102% 102% SugarKstOrierne7s. 3 98 97!* 98 Tenn Copper 6s’4l'. 14 111 111 111 2 TennElecPow 6s 47 1 106% 106% 106% TranscontlOll 6%s 104 101 United Drug 6e 63.. 41 ?y7V* 96% 96% THE EVEXIXft STAT?. WASHINGTON; T). C.. SAT TR DAY. JAXTARY 5, 1929. Sales Hish. Low. Close. (I S Rub Ist rs 55.,. 8 90% 90 90 USKub7%s 3 101% 101% 101% U S Steel s f 55.«.. 14 107% 107% 107% Utah Pow &Lt sis . 6 101 100% 100% Utilities Powr 3%5. 2 94 94 94 West Elec 5s 6 102% 102% 102% Westinghouse 55... 20 104% 104V* 104% Wilson &Co Ist 6s. 4 102% 102% 102% WinßepeatAr 7 %s. 2 107% 107'/* 107% Yngstn S&T 6s wl. 4 100% 100% 100% RAILROAD. Atchison adj 45.... I 88 88 88 Atchison gen 45.... 23 93% 93 93% Atlantic CL Ist 4S. 7 92 92 92 Atlantic CL cl 45.. 1 91 91 91 Atlantic CL4%s 64 15 97% 97% 97% Atl & Dan Ist 4s 43. 1 74% 74 74% Atl & Dan 2d 4s 48.. 1 66% 66% 66!* B& O Gold 4s 7 92% 92% 92% B & Ocv 4%s 31 99 98% b 0 B& O ref sis 23 101 100% 100!* B & O 5s 2000 D.... 5 101 % 101% 101% B& O Ist 5s ct 3 104% 104% 104% B&D rs imp 65.... 1 109% 109% 109% B& O Toledo 45... . 1 85% 85% 85% Boston & Maine sis. 3 97% 97% 07% Brdway&Tth Av sis. 15 74 73% 74 Brooklyn Elec 6%5. 5 95 94** 95 Brooklyn Kiev 6%s 5 93% 92% 93% Bklyn Mannat 65... 20 OS 1 * 98 98 Buff K& Pitt 4%5.. 26 92% 90% 92% Canad Pac deb 45.. 1 85% $5% 85V* Can Pac 4%s 46.... 1 98% 98% 98% Central of Ga 5%5. 2 105% 105% 105% Central Pacific 4.5.. 1 90** 90% 90% Cent Pac Ist sis 90.. 12 102% 102V* 102% Chesa Corp sis w 1.. 7 99% 99% 99% dies &Oc v 4 % 5... 15 99% 99 99 Chi & Alton 3s 2 70 70 70 Chi & Alton 3 %5,.. 2 68 68 68 CBAQ4 %s 77 8.. 5 98% 98% 98% Chi&E 111 gn 5s 51.. 3 81% 83% 83% Chi Gt West 4s 59.. 23 69% 69% 69% ChiMilSr&Pacss7s. 8 93% 93% 93% CMSPAPacadjfiso3.lfil 77% 77% 77% Chi & NW 6%s 1 110% 110% 110% Chi & NW 7s 1 102% 102% 102% Chi Rl&Prf 45... 20 95 94% 94% CR 1 Pac 4%s w 1.. 3 93% 93% 93V* Chi T H inc 6s 60... 2 92% 92% 92% Chi Un Sta 4%5.... 7 100% 100 100 Chi Union Sta 5s 44. 7 102!* 102% 102% Chi Union Sta 6%5. 1 114% 114% 114% C& W 1 5%s 62.... 8 103% 103% 103% Cuba RR sis * 22 96 95% 96 Cuba R R 7%s L 103% 103% 103% Cuba Nor 5%s cts.. 13 92% 92% 92% Del & Hud 7s 30.... 5 103 102% 103 Den & Rio Gen 45.. I 90 90 90 D Rio G West sis... 17 95 95 95 DR G & Wst 5s ’7s l 93% 93% 93% Erie Ist cons 45.... 20 85% 85% 85V* Erie Gen 4s 5 80 80 80 Erie evt 5s 67 w 1... 35 96% 95% 96% Ga & Ala Ist 55’45. 3 86 86 86 Gr Trunk stdb 65.. 5 105% 105 105% Grand Trunk i 5.... 3 112 111% 112 Gt Nor 4%s 76 D... 1 97% 97% 97% Great North 5 %5... 4 108% 108% 108% Great Nor gen 75... 17 112 112 112 Hav El Ry 5%s 51.. 5 60% 60 60'% Hud & Man aj 55... 24 83 82 83 Hud A Man ref sis.. 8 96 95% 95% 111 Cent ref 45...... 2 92Vi 92V* 92% 111 Cent 4s 52 3 91 91 91 111 Cent 4s 53 10 87% 87% 87% Hi Cent 4%s 66.... 2 100 100 100 111 Cent Chi 4%5... 20 97% 97% 97% Int Rapid Tran sis.. 1 79% 79% 79V* Int Rap Tr sis stpd. 16 79% 78% 79V* Int Rapid Tran 65.. 7 81% 81 81 Int Rap Trans 75... 46 99'% 99% 99% Int & G Nor Ist 65.. 8 104 104 104 lnt&OtNor adj 6s 52 8 91% 90% 90% Kan City Term 45.. 5 89% 89% 89% Lake Shore 4s 31... 1 98 98 98 Louis&Nash uni 4s. 4 95V* 95% 95% Louis&Nash 5%5. 1 107 107 107 Louis & Nash 75... 5 102 102 102 Mil El Ry & L sis 61 3 100% 100% 100% Minn & StL ref 45.. 1 191* 19% 19% MK&T4SB 1 86% 86% 86% MK&Tadj 05.... 11 104% 104% 104% Mli&Tprin 5s A. 47 101 101 101 Mo Pacific gen 45.. 5 76% 76% 76% Mo Pac sis F 77 44 98% 98% 98% Mo Pacific 5s G’7B. 21 98% 98V* 98% MobecOhio gn 4s 38. 1 93 93 93 Nassau El 4s 51.... 12 56% 56% 56% NR M 4%s 51 asst. 6 13 13 13 XOTex&M 4%s 56. 44 95% 95% 95% N0T&M5%5.... 13 105% 104% 104% N Y Cent 4s 98..... 1 90V* 90% 90V* N Y Cent deb 45.... 17 97 96 96 NY Cent deb 65.... 1 107 107 107 N Y CentLScl 3%5. 1 79 79 79 NYChi&StL 5%sA. 1 107 106% 106% NYChi&StL 5%s B. 7 106% 106% 106% NYNH&H«%s.. 7 91 90% 91 NY NH&H cv db 6s 13 120 120 120 NY NH&H clt 65... 13 101% 104% 104% N Y Kys 6s 65 62 23% 22% 23% N Y Slate Ry 4 Vis.. 16 48 47 47% Nor Pac 3s 2047.... 8 66V* 66!i 66V* Northern Pac sis D. 6 104 104 104 Northern Pac r 1 6s. 9 113 113 113 Ore Short L rfs 4s. 10 9.9 99 99 Ore Short L 5s gtd.. 1 105% 105% 105% Ore Wash Ist 45... 1 86 88 88 Pennsytcon 4 %5... 4 101% 101 101 Pennsyl gen 4 %s.. 8 100 96% 99% Penna R K 4%5’63. 28 99% 99 99 Pennsy 1 gen 55.... 5 108 107% 107% Pennsy I sis 64 18 103% 103% 103V* Pennsyl 6%s 9 110% 110% 110% Pennsy 1 gold 75..... 5 102% 102% 102% Pere Mar Ist 4s 56.. 1 90 90 90 Pere Marq Ist 55... 1 103 103 103 Philippine RR 45... 2 38 38 38 Reading gen 4%s A 8 99 98% 98% RioG West cl 45... 4 81% 84% 84% R 1 Ark &L 4 %s.. • 1 96 96 93 St L IM&S R&G 4s. 8 94% 91 94 St L&SFpI 4S A.. 5 87% 87% 87% St L&SFr 4% s 78. 50 8 I 88% 89 St L&SF pr In sis. 31 100% 100% 100% San A & Arn P 45... 1 90'% 90% 90'/* Seab A L ref 45.... 1 60 60 60 SeabALadj 5s 1949. 7 40 39% 39% Seab A L con 65.... 7 75% 72% 75% S B All Fla 6s 35 A. 8 66% 65Vi 65% Sou Pac 4s 29 9 99% 99!* 99% Sou Pacific ref 45.. 1 92 92 92 Sou Ry gen 4s 26 68% »7% 87% Sou Ry 6s 56 14 114!* 114% 114% Sou Ry 6%s I 122% 122% 122% Term Asso S L 45.. 1 89 89 89 Third Ave adi 05... 100 64% 64% 64% Tol Tr L&P 5%s 30. 4 100 99% 99% Union Pac Ist 45... 3 94% 94% 94% Union Pac Ist rs 4s. 2 90% 90% 90% Union Pacific 4s 68. 2 88% 88% 88% Virginia Ry Ist 55.. 24 104% 104% 104% Va Ry & P sis 2 100%, 100% 100% Wabash sis 76 8.... 2 99?* 99% 99% West Maryland 45.. 5 80% 80% 80% Western Md 5%5.., 2 99 98% 99 Western Pacific sis. , 3 99% 99% 99s* West Shore 4s 2361. 4 83% 87 88% WisCen gn 4s 49... I 82% 82% 82% POTATO MARKET DULL. CHICAGO, January 5 (United States Department of Agriculture)—Potatoes- Receipts, 67 cars; on track, 127 cars; total United States shipments, 666 cars. Trading slow, market dull; Wisconsin sacked round whites, 85a 1.05; fancy, shade higher; Minnesota and North Da kota, sacked round whites, 85a95; Idaho, sacked Russets, 1.40a1,65; fancy, shade higher, TREASURY CERTIFICATES. (Reported by J & W Seligman <5: Co.) Rate—Matunty. Bid. Offer 3%s Mar. 15, 1029 09 22-32 09 24-32 3'is Mar. 15, 1029 99 27-32 99 29-32 4%s June 15. 1929 99 30-32 100 4%s Sept. 15. 1929 100 100 3-32 4'*s Sept 15, 1029 99 22-32 99 25-32 4'is Dec. 15. 1929 99 21-32 99 23-32 3'..s Mar. 15. 1932 97 10-32 97 18-32 3%.s Sept. 15, 1932 97 10-32 97 13-32 3'as Dec. 15, 1932 97 10-32 97 18-32 SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) Bid. Offer. 1 Aliis-Chalmers Co. 5s 1937 100% 100% Aluminum Co. Amer. 5s 19fi2.. 101% 102'* . American Tel. & Tel. Co. 4s 1929 99% 99% Balto. & Ohio 4!*s 1933 98 90% ' Batavian Pet. Corp 4%s 19(2.. 92% 93% Bell Tel. of Canada 5s 1955... )o'i% 102 . California Pet. Corp. 6'is 1938. 102% 103% Canadian Nat. Rwy. 4%s 1930. 98% 99 Canadian Nor. Rwy. 4%s 1935. 97% 98 i Chesa. & Oilio Rwy. 4%.s 1930. 99 99% Chicago Rock Island 4s 1934 . . 91% 95 Colorado A Sou. Rwy. 4s 1929. 99% 100 '■ Columbia Gas <*c Elec. 5s 1952. 99V* 99% r Cudahy Packing Co. s'es 1937. 98% 99% Edison El. 11 Boston 4%s 1930. 98% 99% ! Gen. Met Accep. Corp. sis 1937 102% 103% General Pet. Corp. 5s 1940 101 101% 1 Goodyear T. A R. 5s 1957 93 93% > Grand Trunk Canada 6s 1936.. 105 106 , Gulf Oil Pa. 5s 1937 100'% 101V* Humble Oil 5%.* 1932 101% 102% ' Michigan Cent. Rwy. 4s 1929.. 99% 99!* Oregon Short Line 4s 1929 98% 99 , Pure Oil Corp. 5%s 1937 90% 100% Shell Union Oil Co. 5s 1947 ... 93% 98% Sinclair C urte Oil 5%s 1933.. 97 97% i Southern Pac. Pv R 4s 1929... 99 99% Standard Oil N. Jersey 5s 19(6. 102% 102% St. L . Ir. Mt & So Ry. 4s 1929 99 99% swift & CO. 5s 1932 99% 100% . Union Oil Co. Calif. 5s 1935.. 99% 100 Western Electric Co. 5s 1944... 102% 103 \V>Ktloehonse E. A M 5s 1946. 104% 104% i Wheeliujs Steel Corp. 6%s 1948. 99!« 100!* ADVANCE IN CURB ISSUES CONTINUES Prices Are Well Maintained Over Week End —Utili- ties Active. BY WILLIAM F. HEFFERNAN. Special Dispatch to The Star. NEW YORK, January s.—The first week of the year on the Curb Exchange closed with the upward movement still in progress. Outstanding among the issues selected for leadership were the shares of prominent public utilities and airplane companies. East States Power, Class B; American Super-power. Class B, and Empire Power all reached new high records. Sikorsky Aviation and North American Aviation went into new high ground, and the demand kept on for Niles- Bement Pond and Universal Aviation. Niles Bement Pond was influenced by the prospect of increased earnings from one of its subsidiaries engaged in the manufacture of airplanes, while Univer sal Aviation had the attraction of valu able air transportation lines. Interest centered in the initial trad ing in the new Radio Corporation shares to be issued under the merger with Victor Talking Machine. Radio new opened on a block of 40.000 shares at 8404 and Radio preferred "B” changed hand above 74. Both stocks came off later, however. Buying for control was the rumor incident with the continued price ap preciation in the market value of Ford Motor of Canada. At 789 it was up almost 30 points further. Ford Motor, Ltd., the English subsidiary, continued active, opening on a block of 10,000 shares at 20 V 2. WHEAT PRICES DROP. CHICAGO, January 5 (Special).— Corn led the grain trade in activity to day with the market showing much strength during most of the day only to weaken at the last under realizing sales. Wheat prices slumped,to new lows. Wheat closed % to lucent lower, and for the week, 2% to 3% lower. March, 1.12%a1.13; May, 1.15%a1.16; July, 1.16' R a1.17. Oats closed % to V* higher, and for the week, unchanged to V 4 higher. March, 47*6: May. 48*4; July, 46 1 2 . Provisions were dull. New York Produce Exchange Special Dispatch to Tha Star. NEW YORK, January 5. , STOCKS. INDUSTRIAL AND Sales. MISCELLANEOUS. High. Low. Close. 125 Airway El App com.. 41 41 41 1929 Allied P & L com .. 31 29% 30% 200 Andes Pet Corp com 2 2 2 2164 Assoc Gas & El com 22 V 2 21V, 22 200 Asso O & El com S7D 21 21 21 100 Assoc GA El com rts 2 1 a 2 1 it 2% 5500 Assoc Gas AEI Arts 1% IV* 1% 50 Central Distrib com 22 22 22 5 Claude Neon Lts com 455 455 455 200 Columbus Auto cvt pd 31'« 31 31 1 * 100 Columbia Bak 2d pd 17% 17'* 17% 100 Columbia Bak s'* s'« s'* 325 Pin A Ind Sec com.. 139% 133% 100 Oen Bond & 8h com 8U B',« B'.* 85 Hel A Rubeinstein uts 70 70 70 100 Lt Land A Explora.. 15 15 15 340 McFadd Publics com 11% 11% 11V« 100 National Aviation ..60 60 60 600 No Butte Mining com 6% 6 6% 781 Splitdorf Beth com .. 8% 7% 7% 100 Stinson Aircraft com. 20% 20% 20% 600 Union Cigar 10 9% 9% STOCKS-BANK. 19 Bank Amer Natl Asso 195 194 195 75 Bank of Unit States 205 905 205 5 Chace National Bank 878 878 878 3 Oer Pd 31 31 31 26 Interstate Trust C 0... 440 440 440 21 Manufacture Trust Co 295 281 291 INSURANCE COMPANIES, 50 Hud Casualty Ins NJ 12 12 12 20 Natl Liberty Insur... 33% 33% 33% 300 Pub Fd 28% 28 28 | INVESTMENT TRUSTS NEW YORK, January 5. Special Dispatch to The Star. Bid. Asked. Allied Internet Inv Corp 11l 113 Amer A For 8h Corp 34 36 Bankers' Inv of Am 14% Divers Trustees Shares A 24% 25 % Divers Trustees Shares B 21% 22% Eastern Bankers Corp units... 145 151 Financial Inv Co Ltd 22 25 Financial A Ind Secs 138 140 Incorported Equities 01 93% Int Secs Corp Class A 64% 67'* Investment Trust of N Y Inc... 12% 12% Power & Lt Sec Trust ex 57% 59% Trustee Standard Oil Shares... 13 13% U S Shares A. 14% U S Shares A 1 14% 15% U S Shares Cl 29 U S Shares C 3 18% HOLDING AND FINANCE COMPANIES. Amer Founders Trust 75% 77% Credit Alliance A 47 49 Ini Sec Corp Cfs 153 157 INSURANCE COMPANIES. Am Reserve 90 95 Automobile 490 520 Fid A Dep 300 307 Firemen's Ins 46 47 Germanic 39 31 Gt American 53 55 Marmonia 43 46 Homestead 45 48 Imp & Exp 95 97 Knickerbocker 30 35 Lloyd's P G 100 N Y Fire 20 24 North Amer 27% 28 Rep (Pitts) 38 42 St P F A M 220 230 BOSTON STOCK MARKET. Special Dispatch to The Star. BOSTON, January s.—Following is a list of today's highest, lowest and clos ing prices for the most active stocks ; dealt in here: Sales. High. Low. Close. 120 Aero Underwriters .. 39% 39 39 500 Amer Pneu pfd 18 16% 18 430 Amoskeag 23% 23 23 120 Andes Pete 2 1% 1% 3580 Arizona Com 5% 4% 5 33 Bingham Mines 51% 51% 51% 160 Boston Elev 87 87 87 , 125 Boston A Me 105 105 105 . 305 Calu A Hecia 47 46% 46% 240 Copper Range 27% 27% 27% 250 Cred Alliance 47 43% 45% 250 East Butte 4 4 4 135 Edison Elec 280 280 280 440 Engineers Pub Ser 51 49% 50% 101 Gillette 122% 121% 121% 50 Hood Rubber 25 % 25 25 325 Isle Royale 26% 26 26 580 Keweenaw 7% 77% 113 Mason Val 2% 2% 2% 25 Mass Gas 76% 76% 76% 200 Mayflower O C 35 .85 85 380 Mergenthaler 103 103 103 380 Mohawk 44% 44 44 100 New Eng TA T 145% 145 145% 6350 North Butte 6% 6 6% 560 Old Dominion 18% 18% 18% 160 Pacific Mills 31 31 31 1013 Quincy 48% 27% 27% 150 St Mary's Land 37 36% 36% 52 Shanon 49 .40 .49 820 Sterling Secur 33 32% 33 450 Superior & Bos 58 .58 .58 0 Swift Internat 37 37 37 90 Torrjngton 83% 83% 83% 320 Tower Mlg y 8% 8% 180 United Shoe M. , 75% 73 75% 150 Uni Shoe M pfd.... 31% 31% 31% 10 Utah Apex 4% 4% 4% 75 Utah Metal 1% 1% 1% 200 Victoria 1% 1% 1% ■ • GERMAN BONDS AND STOCKS. Special Dispatch to The Star. NEW YORK, January 5. Oer Gov Red Loan with drawing ctfs attached per 100 R M 55.00 60.00 Ger Gov Red Loan without drawing ctfs per 1000 R M... 36.00 40.00 iQuoted in dollars per million marks' Hamburg 4%s 1919 20.00 30.00 (Quoted in dollars per thousand marks) German Gen Elec 4%s pre war. 22.00 25.00 German Gen Elec 4%s 1919 2.25 3.00 Berlin 4s pre war 4.00 6.00 Hamburg 3s. 3%5. 4s pre war.. .50 1.00 Hamburg American Line 4%5.. 31.00 32.00 North German Lloyd 4%s 31 00 32.00 Krupp 5s 1921 25 200 Dusseldorf 4s pre war 50 1.00 Frankfort a-M 4s pre war 50 1.00 Munich 4s pre war 50 1.00 (Quoted in dollars per share) AEG (German Ge Elec) 45.00 47.00 AEG (Ger Ge Elec) pfd 8.... 9.00 11.00 Commerz and Privat Bank 46.00 48.00 I G Parben 63.00 69.00 Disconto Geilschaft.., 38.00 40.00 Berliner Handles 59 00 61.00 Dresdner Bank 41 00 43.00 Deutsche Bank 41.00 43.00 Darmstaedter Bank 69.00 71 no Heyden Chem 10.00 12.00 Mcrcur Bank Vienna 2.00 4.00 Nor Ger Lloyd 12.00 14 00 Austrian AEG (Gen Elec) 4.00 600 Rudolph Karstadt 21.00 23.00 The fare auto—United States to Europe—Tatfce* from $250 to S4OO. | NEW YORK CURB MARKET I Received by Private Wire Direct to The Star Office Following is a list of stocks and bonds i traded in on the New York Curb Market | today: Sales in INDUSTRIALS, hundreds. High. Low. Close. 18 Acoustic Prod 18 !<;* 17% 2 Agfa Ansco 37% 37'* 3m 6 Allied Pack 1% J% >'» 3 Allison Dr B 5 5 5 6 Alpha Port Cem .... 54 53% 54 2 Alum Co Amer 150 149 * 2 Alum Ltd 117 117 117 5Am A For Pow war.. 56% *>o% *™'« 1 Amer Arch Co 47% 4.% 47% 5 Amer Br Bov El F.. 9% 8% 8% lAm Common* opt ... 10 10 10 lAm Con Alco vtc ... 81% 81 u 81% 34 Am Cyanamid B . ... 64% #2% 62'* 14 Am Cyanamirl rts ... 15% 14% 14;, 10 Amer Dept Stores ... 20% 20% ,0 b , 16 Am Commonw Pow A 27 23 23 lAm Commonw Pow B ?8% 28' * j 1 48 Amer Gas & El 147% 139% 139% ; 11 Amer Hawaiian S S.. 22% 21% 22 2 , 14 Amer In Cor wi .... 74% 74% 4 1 1% Amer Lt & Trac ....219 219 219 ! B Amer Nat Gas 17 17 17 I % Amer PUt pr pfd .. 91 91 91 1 Amer Rayon Prod ... 15% 15% In- ■•* 18 Amer Roll Mill 98% 97% 9*% 1 3 Amer Sol & Chem... 27% 27 *<■» 8 Amer S A G p Pfd .. 48 47 47 t 15 Amer States Sec A.. 11% I}% * J, J . 10 Am States Sec Arts. 1% 1% ,*2 . 4 Amer States Sec B .. 11% 10% l'r 1 2Am States Sec B rts. 2% 2% 2% , lAm Sta Sec war 4% 4% 4% . 1 Amer Stores ........ 96% 9e% 05 s 97 Amer Superp A 72% (0‘» il 1 Amer Suoerp B s 7 d 77 77 77 33 Amer Superp B 78% 74 16 1 Amer Superp Ist pf DO*•» 90% 90% lAm Thread pfd 3% 3% 3 s 1 2 Anglo Chil Nitra .... 35% 35's 3u% . 1 Apponaug Co 65 65 65 1 Art Metal Wks pfd 57 57 57 1 Asso Dye A Print,.... 21% 21 4 <♦ 6.) Asso Gas A El A.... 62% 62 52 39 Asso Gas A El S 3od 51 51 51 5 Asso Gas A El war.. 6.9 62% 6? 1 Asso Rayon 35 3* 3o 6 Asso Rayon pid.... 80% 86 80 2 Atl Fruit A Su* 1% 1 2 Atlas Plywood 76% 76;» «■« 11 Auburn Auto Co 135 134 * - 8 Aviation Co of Am... 34•» 32% 3A* 1 Axton Fisher A 39% 39,a 39.2 1 Bcllanca Aire vtc.... 21 21 31,., 1 Benson A Hedges.... 15% 15 s * 4 Blauners 52% 51- 4 nf 2 Bliss E W 49% 49 % 4J . 1 Blum S 91 1 1 91% 9t , 3 Boeing A& T 88% 86 *L. 2 Boeing A A T pfd .. 73% <3% 73 2 1 9 Bohn A1 & Br 114% 112 112 IBras Tr L A P .... 76% 76% -7&% I Bridgeport Mach 2 2 2 1 2 Brill Corp A 28% 28% 1 1 Brill Corp B 10% 10% 10' 2 5 Brit-Celanese Ltd... B'* a * H'b 20 Bklyn City R P. .. 8% 8% 8% 28 But Niag A E P .. 75 71 71 ÜBlif Niag A E P A 61 53% 58 * 3 Bus Niag A E P pf 26% 26% 26% 6 Bullard Ma T ....133% 131 133 a 6 Butler Bros 44% 43% 43% 1 Buzza Clark 14 14 14 ■ 62 Can Marconi W .... 9% 9 s 9_« 1 Cavanagh Dobb .... 32% 32-, 32 * 1 Cavan Dobb pf ....103% 103% 103% 1 1 Celan Cor Am 53 o 3 a3 1 Celan CAm Ist pf.. 110 115 115 2 Celotex Co 64% 63% 64% 6 Cent Pip Cor 13 12% 12% 1 Cent States El war 20 20 20 1 Cent Sta El pf WW .. 84% 84% 84% 1 Cen Sta El pf C O D 98 98 98 24 Check Cab Mfg 48% 46% 46% 1 Clark Lighter A 22% 22% 22 2 2V* Commonwlth Ed ....219 215 219 4 Commonw P pfd 102% 102 102 s 44 Cons Auto Mer vtc.. %% }j% 16 2 2 Cons Auto M vtc SOD 16 16 16 3 Cons Auto Mer pfd.. 45 44% 44% 9 Consol Dairy P ..., 43% 43 43 * 20 Consol Film 18% 18% 18 1 1 Consol G Balt ?5 95 95 9 Consol Laund 19% 19% 19 a % Crocker Wheeler 135% 135% 135 s 22 Crowley Milner 60% 60 60 54 Curtis Flying Serv.. 22% 22% 22% % Deere A Co 624 615 615 58 De For R C 23% 22% 23 II Doehler Die C C .. 41% 40% 40 * 2 Dominion St Ltd .. 164% 161% 164% 1 Donner Steel 21% 21% 21% 83 Douglas Aircraft .... 26% 26% 26 * 1 Dubilier CAR ,8% 8% 8% 20 Du Pont de N n,...146 143 144% 5 Duplan Silk 6% 26% ,6 b 68 Durant Mot 1«% %% l‘% IDU! Co A 77 7 39 East States Pow B. ... 51 4? % 50% 87 El Bd A 3h Sec Cor.. 18} - 181% 1«1 % 87 El Invest Inc 84% 82 83% 3EI P A L optl war... 32 32 32 43 Em Pow Cor 53% 51- a 52 6 Eng Pub Serv opt war 26% 26 26 1 Evans Auto Load. .. 60-* 60% 60% 15 Evans Auto Load rts. 2 2 2 22 Evans Wall Lead ... 16 2 16% 16% 1 Faseol Mot Co 6}s 6% 6% 4 Faircliild Aviatn A... 24% z 4% 24'* 1 Fandango Corp A 5% 5% 5% 3 Fansteel Prod 12% 12% 12% 1 Fashion Park 45 45 45 14 Feddcrs Mfg A 50% 47% 49% 51 Federal Water A 58 57% 58 26 Fiat stk deb rts 16% 15% 15% 1 Filenes Sons pfd 104% 104% 104% 1 Fireman Fund Ins... 129% 129% 129% 5 Firestone Tire 235% 232% 232% 57 Fokker Airp Am .... 25 24 24 5 Ford Mot Co Can 810 773 800 487 Ford Co Ltd 20% 19% 19% 1 Foihan Co A 31% 31% 31% 2 Foundation For A... 17% 17% 17% 306 Fox Theaters A 37is 36% 37 % Ford Mot Can s 7 d 800 800 800 1 Freed Eisem R C .... 4% 4% 4% 20 Freshman Chas C 0... 12% 11% 11% 16 Gen Am Inv 88% 86% 86% 27 Gen Bak 9% 9% 9% 8 Gen Bak pfd 78 77% 78 1 Gen Bronze 44% 44% 44% 698 Gen Elec Ltd teg... 17% 16% 16% 7 Gen Firepi jg n .... 33% 33% 33% 3 Oen Laund Ma 25 35 25 17 Gen Pub Ser 29% 27% 27% 1 Gilbert < A C> 18 IB 18 6 Glen Alden Coal 139 138% 138V* 28 Gold Seal Elec 25% 24 24 45 Goldman Sachs 120 119% 120 4 Gleaner Comb Har .. 123 121 133 2 Gorham Mfg 75% 75% 75% 31 Gotham Knitbac Mach 14% 14 14 2 Granite City Stl 38% 38% 38% 3 Grigsby Grunow n ... 154 153% 154 337 Hahn Dept Strs Inc 54% 52% 54 37 Hahn D S 6%s cvt pf 113% 110% 112% 1 Hall Lamp 23% 23% 23% 4 Hall Printing 35 34% 35 1 Hall Printing rts .... 2% 2% 2% 4 Happin CSt A 4% 4% "% 4 Hart, Carter Conv pfd 35% 34 35% 10 Kart Parr 67% 66 66 2 Haygart Corp. 47% 47 47 % H»rr,ul Powd pfd 123 120 120 90 Hiram Wall: G & W 84 81 83 2 Holt Henry A 24 24 24 1 Hood Rub 27 27 27 5 Horn AC 45 % 45 45 1 Household Finance pf 50% 50% 501 a 49 Huylers Strs of Del.. 30% 29 s * 30 1 Imp Tob Can 11 11 11 25 Indust Finance ctf... 57% 56 57% 6 Insur Co N A 89% 88% 89 5 Insur Secur 32 32 32 12 Inti Saf Raz B *5% 44% “5% 7 Intern Util A 46 45 46 30 Intern Util B 17 16% 16% 1 Isotta Fraschini 14 14 14 2 Ital Superpow A 12% 11% 11% 1 Joske Bros vtc 39 39 39 4 Karstadt R 23% 23'* 23% 3 K-’ystone Aircraft ... 47% 47 47% 1 Kimberly Clark SO 7 * 50% 50% 4 Kinncar Stores 39% 38% 38% 2 Klein (D Emil) Co .. 26 254* 26 4 Klein Henry pt pfd.. 21V* 21 21 2 Kobacker Stores .... 47 46 47 4 Lake Super C 18% 18 18% 15 Lakey Found A- M... 32% .32% 32% 1 Lefcou Real pfd 38% 38% 38% , 2 Leh Val C cfs 25% 25% 25% ' 12 Leh Val C cfs COD 26 254* 26 % Leh Val C Sal CCu 47 47 47 2 Leon F P Muel 34 30% 34 1% Libb Owens 8h C.l. ... 180 180 180 1 Libby McN A L n... 14 14 14 13 Loews deb rts 29% 29% 29% 115 Marconi Inti Mar... 24% 23'* 24 23 Marc Wire Lond 8.. 21% 20 20 1 McCord R B ctfs 30% 30% 30% 1 4Me Leila n Stor A 56% 55% 56'b ■ 1 Mead John 61 61 61 : 5 Metro Chair Strs.... 79 78 78 2 Michigan Steel 63 67 67 1 Mock J V 29% 29% 29% 3 Mohawk Hud Pow.. 57% 57% .>7's 14 Mond Nickel rets 55 53 53 2 Montecat deb rts ... 5% 5*2 5% 2 Moody Inv Serv pfd.. 52% 52% 52% . 5 Municipal Serv 28% 28 28% 21 Murphy G C 77% 77% 77% , 3 Nat Bak 5% 5% 54# 3 Nat Bancserv 72V* 72 72 1 Nat Dairy Prod A 105 105 105 . 18 Natl Fam Strs 31 30%, 31 2 Nat Food Prod B 11% 11% IJ% 1 Nat Mfg A Stores.... 37 37 37 11 NRt Rub Mach 37% 36% 37% 2 Nat Sug R N J n... 48% 45% 46% , 14 Nat Theater Sup.... 9% 8% 9 . 3 Nat Trade Journal... 34% 33% 33% 1 2 Nehi Corp 27 27, 27 1 Neisner Bros 148% 148% 148'* , 1 Neve Drug 12% 12% 12% 1 Newb J J Pfd 102% 102%102% . 1 Newp Co A 50 50 50 3 Newton Steel n 73 72% <3% % N Y Tel Co pfd 112% 112% 112% 6 Niagara Shares 31 SO 1 :* 31 2 Nichols A Shep 78% 78% 78% 4 Niles Bern Pnd 210%, 206 206 3 Noma Elec 23% 23% 23% 479 North Am Avia 18% 17% 18 2 North Amer Cem 11% It 11% 19 North Ant Avia s 7 d 17% 17% 17% 2 North Am Utility Sec 14% 14% 14-* 38 North Eastern Pow.. 54% 52% 53% 5 Nor Sta P A 146 145 146 3 Nor Sta P pfd rts.. 6% 6% 6% 5 Northwest Energ.... 45 7 0 44% 40% 17 Param Cab Mfg 41 39 41 1 Pend D Groc A 63 63 63 4 s * J C Penney & C 0.... 358 344 351** 1 Penney pfd .. .• 101% 101% 101% 1 Penn G A El A 23 23 23 11 Penn Ohio Ed 59% 59% 59% 1 a Penn O Ed pfd...... 95 95 95 V* Penn O Ed p pfd... 104% 104'.* 104 a 4 Peoples Drug Stores.. 94 92% 92% 7 Peoples LAP Corp A 49 48% 49 6 Perfect Circle 55 52% 55 2 Phelp Dodge Cor 220 218 218 2 Philip Morris.... ... 4% 4 4% 4 Philippe (Louis) B .. 28% 27% -3 * 5 Pick Bar A Co pfd.. 19 19 19 1 1 Piggly Wiggly 9 4 9% 9% 3 Pitney Bowes P • 20% 19_« *o* 1 1 Potrero 5ug........ 5% 5% 5% . 1 Pow Corp Canada... 102 102 102 , 1 1 Pratt A Lamb....... 68 2 68 2 66 2 2 Prop Silk Hos Mil... 42 2 42 2 42% 1 Pyrene .......... 8 s 8a Cs 1 Quaker Oats pfd. .. 120 119% 120 1311 Radio Corpn n wi.. 84** 79 . 86^ 275 Radio Cor n B pfd wi 74% <2% 74* 17 Rainbow Luminous.. 00% 58% 59 j 10 Raybestos 76>.« 74% 74»a % Real Assn Bklyn 475 4(5 475. 4 Rep Brass 43% 43% a3% 5 Rep Brass 90% 90-;* 90 a 1 3 Repetti Candy 76 .75 .16 4 Reynold Met pt pfd. 65*2 65 66 j 15 Rice Stix Dry G.... 24% 24> 24% 2 Ritter Dental 52, 52 52 17 Roch Cen Pow 42% 42 % 42% 21 Ross Stores 29% .27% .28% 5 Ruberoid 108 7 » 108-* 108% 1% Safe CHA Lt 170 169% 170 34 Safe-T-Stat 294* 27% 29% ISt Regis Paper 133 133 133 , 2 Schulte Real Est.... 33% 33% 33V a 9 Schulte Un se-*l Str 26 24% 23 2 Sch Un sc-Sl Str pfd 89 SB% 88% 2 Schutter-Jonn C A.. 14% 14% 14% 5 Sec Gen Am Inv 3314 33 33 3 Seem an Bros 76 75% 76 1 Segal Lock A Hdw n 117«2 7 « 12% lz% 7 Seiberling R C 61% 59 5? 1 21 Selected Ind Inc wi.. 21% 21 21 2 Selfr Prov Strs 0*« 3** 3** , 5 Select Ind Inc Ist pf 100% 100 100 2 Sentry Safety Con.. 15 15 15 27 Serv El vtc 16% 15% 15% 2 Seton Leather 31% 31 s 31 a 22 SHeaffer Pen 63 7 a 60% 63 s * 3 Sharon Stl H00p.... 39 38 38 2 Shredded Wheat 100 100 100 31 Sikorskv Aviation.... 36% 34 34 27 Silica Gel ctfs 27 26, 26 1 Silver I A Bros 71% 71% 71% 20 Singer Mfg Ltd 9 8% BV* 2 Skinner Organ, 42 41 42 a* Smith Co 1 AOt 191 189% 190 40 Southeast P A L. ... i 4 % (3% i 4 58 Southe PAL war.. 33 30 7 * 32''* 1 Sou CEB pfd 26% 28% 26% 2 Sou C E C pfd. 24% 24% 24 . % Sou Cit. Ut pfd 82% 8282% 1 Southern Ice A U A., la** 15** 15% 4 Southw Strs 26% 26 26% 13 Spald AG A Bro ... 350 345 345 6 Spanish A Gen rets. 7 6 6 2 Sparks Withing 176 17a, 176 3 Speticer Kellogg 41 7 * 41}* 41% 2 Stahl Meyer 48 46% 46% 24 Stand Mot 3% 3% 3% 1 Stroock Co 46% 46% 46% lSStutz Mot 33 32 32% 20 Stutz Mot rts 11* 11% 21 Swift Tr.t! 36** 36% 36’• ? Syra W Mach 23** 23 23% 6 Taggert Corp 45% 45 45 9 Thomps Prod A 50% 49% 49% 4" Timken Dot Axle ... 31 s * 30% 30% 2 Timken Roll Bear n 75 75 75 f; Toddy vtc B 13% 13 s * 13% I • Torrington Co 84% 84'* 84% 72 Trans Ain Tr ctfs.... 131** 131% 131% 103 Transcon Air Trsp. 27% 27% 27% 13 Tran Lux DLP S A 6 s * 6% 6V* 2 Trunk Pork Btores.. 57 55 55 % Tubi Art S B 549% 540 540 6 Union Am Investing 61% 60 60 37 Union Tobacco 18 17 17 2 Uni Biscuit B 29V* 29 29 16 Uni Carbon vtc ... 50 49% 49% 10 Uni Elec bond rts.. 2% 2% 2% 27 Uni G Imp C 172** 169 169% 139 Ur.i I t A P A 34** 33% 33*,* 2 Uni Lt A P B 36% 36% 36% 1 Uni Piece Dye Wks... 105% 105% 105'* 1 Uni Shoe M C 75 75 75 7 U S Asbestos 52% 51 51 17 U S Foil B 60% 59 60% 9U S For Sec. .. : 63% 62% 62% 12 U S Freight of Del.. 95 94 94 2 U S Gvpsum 72 71% 71% 22 U S Rub Reel 23% 22 22% 52 Universal Aviation... 19% 19 19% 2 Util P A L ctf B 39 38V« 39 2 Titil Shar... 20 20 20 1 Van C Pd e: nfd ctf d 50 50 50 1 Waitt A Bond A ... 25% 25% 25% 21 Watson J W 14% 13% 13% 1 Wayne Pump 32 32 32 1 West Auto FllO A 53 53 53 10 Westvaeo Chlor 49 48% 43% 8 Whiteniaht Inc 17% 16 s , 17% 2 Wilder Fend Prod... 23% 28 28 4 Williams (R Cl A Co 38% 36% 38% 1 Wire Wheel Corp 29% 29% 29% 2 Woodworth Inc 37' < 37% 37'* 3 Worth Inc A 11% U 11% Sales in MINING STOCKS, hundreds. 70 Ariz Globe C 12 .10 .11, 46 Com Tun A Drain.... 1 7 « I’* l’* 6 Cons Cop Mines 14 13% 13** 5 Cresson Con Gold 72 .72 .72 20 Divide Extens 04 .04 .04 1 Eng Gold M Ltd Inc. 4V« 4% 4% 20 Ooldfld Cons 18% 1«% 18% 5 Hecia Min 16% 16 s * 16% 36 Hud Bay Min A Sm.. 21% 20% 21% 1 Kirkl A Lftke G01d... 1% 1% 1% 16 Mason Val 2% 2% 2% 2 Min Co Can 4** 4% 4% 22 New Cornelia 44% 43% 43% 12 Newmont Mining 204** 202% 204 V* N J Zinc 279** 279** 279% 1 Nipissing 3% 3% 3% 29 Noranda 63% 64% 64% 159 Ohio Cop 2 1% 1% ' 10 Red Warrior 11 .11 * .11 7 Roan Antelope Cop... 4**.* 43 4.3% 20 San Tov 65 .05 .05 15 Shattuck Denn 23% 22% 22 s * 32 St Anthony Gold 57 .54 .57 1 Teck Hughes 9** 9% 0% 2 Tonopah Min 3% 3% 3** 35 Uni Verde Ext 23% 23% 23% 6 Uni Zinc Smelt I s * I s * I s * 5 Unity Gold I** 1% 1% 2 Utah Apex 4% ■*% 4% 4 Walker Mines 2!I 2% 2IS 30 Wendon Cop 1% I** 1% SaKs INDEPENDENT OIL STOCKS. I in hundreds. 1 Atn Con Oilflds 64 .64 .64 52 Am Maracaibo Co. .. 5% 5% 5% 55 Barnsd deb war 20** 19% 20 13 Carib Synd 4% 4 4 126 Cities Serv n 95 94 94% 1 Cities Serv n S 7 D.. 93% 93% 93% 13 Cit Serv rts 2% 2i T « 2 1 ■ 1 Cit Serv B pfd 9% 9% 9% 29 Colon Oil 14% 13% 14% 2 Columbia Synd IV* 1% 1% 2 Cons Royalty 8 8 8 26 Creole Pete 11% 11% 11% 10 Crown Cent Pete I s * 1% 1% II Darby Pete 25% 25% 25'* 17 Gulf Oil Pa 149% 1*7% 147% 14 Homaokla Oil 7% 7% 7% 25 Intercom Pet 2% 2% 2% 11 Kirby Pet 2% 2% 2% 6 Leonard Oil 5% SV, 5% 1 Lone Star G Del 69% 69% 69% 2 Magda 1 Synd 64 .60 .60 1 Mexico Ohio 4 4 4 10 Mo Kan Pipe Line.. 18 17% 18 14 Mount Gulf 1% 1% I** 1 Mount Prod 20% 20 s * 20% 2 Nat Fuel Gas 26% 26% 26% 3 New Bradford 0.... 4% 4% 4% lt N Y Pete Roy 21% 21 21 5 Pac Western Oil 22** 22% 22** 4 Pantepec Oil 10 10 10 1 Pennok Oil Corp.... 6% 6% 6% 3 Plymouth 'Oil 29% 29% 29% 1 Reiter-Foster Oil 7% 7% 7% 1 Ryan Con 9 9 9 1 Salt Ck Cons 5% 5% 5% 3 Salt Ck Prod 25% 25 25% 17 Te.xon Oil A Land... 3% 3|j 3% 22 Venezuelan Pet 6% 6'* '6% Sales STANDARD OIL ISSUES AND FOR in units. MER SUBSIDIARIES—STOCKS. 1800 Anglo Am Oil 15% 15% 15% 200 A A A O non vtc .. 15% 15% 15% 4400 Conti Oil 19*, 19 s , ID*, 1000 Humble OAR ....100V* 99% 99% 500 Imp O Can 98% 98 98% 4000 Inter Pet Ltd 55'* 54 f. 4% 50 N Y Transit 72 72 72 900 Ohio Oil 72% 72% 72% 100 Penn Mex Fuel 39 39 39 100 Prairie PL 272 272 272 3100 Prairie Pipe Line n 55% 55 55 1400 South Penn O 69 68 68% 4300 S O Ind 90% 89 89% 200 S O Kansas 21 21 21 500 S O Ky n 43*, 43 43*, 100 S O Neb *B% «% 46** ?or> O Ohio pfd 119 119 119 1400 Vacuum Oil 106% 196 106% 2 Abbott Dairies 6s 100 100 100 5 Abitihi P A P 5s A.. 87% 87% 87'* 15 Ale Pow 4%s 94% 94% 9'% 6 Allied Pk 8s 49% 48% 48% 1 Alum Co Amer 55.... 102 102 192 12 Am Agsre Cor 6s 1)5% 115% 1'5% 49 Am Gas A El 5s 97 96% 96% 1 Am Pow A- Lt 6s 106 106 106 10 Am Roll Mill 5s 96% 96% 96** 5Am Seating 6s 96% 96% 96% 5 Appal El Few 5s 99 98% 99 3 Ark P A L 5s n 97*4 97 % 97% 74 Asso Gas A El 5%5. .. 101 99% 100% 337 Assoc Gas A El 4%5.. 104** 102% 104% 38 Assoc G A E 4%s ww 98% 97 98% 1 Asso Sim Hard 6%5. 86% 86 s * 86% 61 Atch T A S Fe 4%5. 118% 118 118 2 Atl Fruit 8s 20 20 20 5 Bates Valve Bag 65.. 110 V, 109 109 6 Beacon Oil 6s 115 113 115 5 Bell T Can 5s A 102 102 102 6 Caro P&L 5s 102 101 % 102 3 Cent Sta PAL 5%5.. 96% 95% 96% 5 Chi Rys cfs dep 55... 80% 80 s , 80 s * 21 Cig 8t Real H 5%s A 99*, 99*, 99% 3 Cit Serv 5s 90'* 90 90% 35 Cit Se r v Pow 5%5. . 96% 96 96% 5 Col Riv Lorav Br 7s. 99% 99% 99% icons G Balt 5%s E. 106', IOC', 106>, 9 Cont'l G A E 5s A.. 91% 90% 91% 1 Cudahy 5'% 99% 99% 99% lODenv A Salt Lake 6s 90 90 90 5D"t Inti 6%s 93 93 93 1 Det Inti 7s 86 t , 86 86 3 Dtx Gulf G 6%s A.. 87% 87Va 87% 9 Empire OAR 5',->s.. 91% 9t 91% 1 Fairbanks Morse 55.. 95 95 95 2 Fed Sug 6s 86% 86% 86 s * 5 Firest cot Mil 65.... 94 94 94 5 Firestone T A R 55.. 9a 95 PS 8 Fla P A L 5s 90 89% 90 7 Gatineau Pow 5s 96 96 96 15 Gen Am Inv 5s A ww 85 84% 84% 1 Oen Latin Ma 6%5.. loot, in?% into 5 Gen Rayon 6s 94Vg 94% 94% 10 Gen Vend 6s 87 86% 86-’* 18 Georgia Pow 5s 98% 98V, 98% 2 Grand Trunk 6%5..108 108 108 1 Guardian Inv 5s 96 96 P 6 1 Gulf Oil Pen 5s '37.. 100% 100% 100% 20 Gulf Oil Pen 5s '47.. 101% 101V* 101% 5 Hood Rub 5%s 801* 80% 80% 1 Houston Gulf O 6%s 92% 92% 92% 1 Houston Gulf G 6s A 92% 92% 92% 3 111 Pow A L 5%s '57 95 94% 94% 3 111 Pow A L 5%s '54 100 100 100 3 111 PAL 5%s '54 7d 99% 99% 99% 11 Ind Oil A Gas 6s 110';, 109** 109% 27 Indianap P A L 5s A 99% 99 99% 7 liltl Sec Amer 5s ... 92 91 gl 2 Interstate Pow 65... 97 97 97 3 Invest Corp Am 5s A 98% 98 98% 4 Invest Eouity 5* A... 105 105 105 9 lowa PA L 4%s A. 94% 94% 94% 7 Kendall 5%s 98% 98 98 5 Kop Gas A Coke 55.. 99% 99% 99% 2 Lone Star Gas 55... 99% 99% 99% 1 Long Isl Lt 6s. 104 104 104 3 Louis Pew A Lt 55.. 98% 96% 96% 5 Manitoba Pow 5%s A 100',* 99% 99% 2 McCord Rad 6s. .. . 97 96% 97 5 Memphis Nat, Gas 6s 97’* 97 g.% 2 Milwaukee Gas 4%5. . 98 2 98% 98% 4 Mont LI Ht A P 5s A 101 % 101 % 101% 1 Morris A Co 7%s 100% 100% 100% 2 Narrag Co 5s A 99% 99% 99% 2 Nath Strauss Inc 6s. 118% 118 118 5 Nat D. Prod 6%s 100*, 100% 100’, 4 Nat P A I 6s A. ... 105 1 Nat Pub Sew 5s 8o’« 83% 83% 11 Nat Rub M6s 149 149 149 8 Nat Trade J 65.. .. .. 98% 98% 98% 2 Neisner Bros Real 6s 108 108 108 4 New Ena G A E 55.. 97 97 97 9ft N Y C St L 4* 2 $ C... 94 , » 94 1 * 94 ,/ a 12 N Y P A L 4%s 93** 93% 93% 1 Nichols & Shep 6s ww 102'* 102% 102% 1 Nor Ind P S 5s C 100** 100** 100** 4 Nor States P M 6%5. 103% 103'. 103% fi Ohio Pow 4' ■* D 93% 93 93 7 Ohio Pow 5s ’>2 8.... 101 100% 100% I Ohio Rlv Ed 5s JOO 100 100 1 Osgood Co 6 5........ 101 101 101 sPie GA E 4''S E.... 9/** 9i’a 97% 8 P-i'- Wn Oil 6%5..,. . 98** 98% 98% 2 Penn Oh Ed 6s A ww. 101% 101% 101% 1 Penn PAL 5s B a2. 101*, 101}, 101** 1 Phila E P 5%s ’72... 105** 105*, lO.v, 1 Pitts Steel 65........ 103 103 103 5 Potomac Ed as E... . 91% .•*(-, 4 Queens B GAE 5%s A 104 103% 104 3 Richfld Oil 5%s 102% 102 * I''2 0 2 Roch Cent Pow 5s A.. 88 87% 88 10 .1 Ryeson. A Son 55... 94 94 J 4 20 Servel Co Dei 55....... 83 82% «3 2 Shawln W A P 4%S A 94 ■ 94% 94% 3 Snider Pack 6s 96% 9b 90% 3 Southeast PAL 65... 104% 104% 104% 1 Sou Cal Ed 5s *44 ... 01’* 101 7 * 101% 4 Sou Cal Ed 5s 'sl. .. 102 102 102 3 South Cal G 5s '37... 93 92% 93 1 Stand Invest 5s 126 126 1-6 8 Stand PAL 6s 98% 98% 98 , 3 Sun Maid Rais 6%5.. 79', 78 79% 1 Sun Oil 5%s -• 101*, 101% 101% 15 Swift A Co 5s 100 99% 99-, 12 Texas PAL 5s 99 9?% 3 Trans Lux 6%s 94 94 94 11 Truex Traer Coal 6%s 102 101% 10U* lUlen A Co 6%r 99 s * 99% 99% 17 Un Amer Inv £s A... 110 109 109 8 Uni Lt A Rail 5%5.. 94 7 » 92% 93% 1 Uni Lt A Rail 6s A.. 101% 101% 101% 14 U & Had 5s A 93% 93% 93% 1U Iftßub «'-s '33.... 97’g 97 7 » 97% SUS Rub 6%s '34.... 98 97% 97% 4U S Rub 6'i* '35..., 98 98 98 lUS Rub 6>is '36..., 98 98 98 IPS Rub 6*2* 37 98 98 98 7 U S Rub 6> a s '3B 99’« 98 99’. 1U S Rub 6' s '4O 99’. 99’. 99’. 1 Webster Mills 6'.-5... 96,, 96 96 4 Western Pow S'.-s A. 1131a 113 113‘a 10 Wheel Stl 4'iS 8.... 89 88'i 89 Sales FOREIGN BONDS. In thousands. 3 Agri Mor Ba 7s '46.. 98 98 98 5 Antwerp City 5s 94 94 94 2 Baden 7s 98 97'a 98 35 Bolivia 7s 93 , 92 93 1 Buenos Aires 7s '52.. 100'/« 100'« IOOV4 5 Buenos Aires 7’ys... 103 102‘.2 103 2 Cent Bk Oer Sta 6s B 87 87 87 2 Com ft Priv Bk sVa* 88 88 88 3 Cuban Tel 7’as A... 109>i 108*. 109',. 11 Elec Pow Ger e'as... 95 92's 95 2 Ere M E Mfg 6'aS A 96'i 96'a 98 * 2 Estonia 7s 88' 2 88'a 88Va 4 Eur Mtg ft Inv 7s C. 92 91 92 3 Finland Res Mt« 65.. 91 91 91 11 Free St Plus 6s 90'i 90'4 90*a 6 Free St Prus 6Va5.... 95Va 9§’a 95Ji 1 Ger Cons Mun 75.... 97*. 97*. 97*. 3 Ger Cons Mun 65.... 88 87', a 88 10 Ger Pv ft Com 6‘aS A 87>/« 87 87 1 Ouant ft W RR 6s A 85 85 8o 5 Hamburg E 7s 101’’. 101}'. 101’. 4 Hanover State 6s 94 93’. 94 1 Indt M Bk Fin 75.. 101 101 101 1 Tsarco Hyd Elec 75.. 91 91 91 1 Xsotta Fraschini 75.. 104 Vi 104'a 104'/a 1 Xsotta Frasch 7s ww. 87 87 87 10 I'Hi Superpow 6s ... 81 80*. 81 2 Jugosl Sta Mor Bk 7s 82 82 82 1 Leon Tietz C 7'as ww 102 102 102 2 Mor Bk Bogota 7s n 91 'a 91''a 91 1 i 5 Mor Bk Chile 6s '31.. 9714 97'a 97ta 1 Nippon Elec B'aS.... 92 92 92 5 Russ Gov 5'2S 13’i. 13 13 2 Saar Basin 7s 100 7 » 100 100’i * 1 Santa Fe City 7s 94 94, 94 1 Santiago 7s 98’a 98Va 98',a lSauda Falls 5s A.... 102 102 102 1 Silesia 7s 84'a 84’a 84’a 3 Stinnes H 7s '36 wa. 89'a 89 89ta 1 Uni Stl Wks 6'.2S A 89 89 89 xd—Ex-dividend, wi—When issued, n —New. ww—With warrants. COTTON PRICES DROP. Overnight Selling Orders Cause Downward Market Trend. By the Associated Press. • NEW YORK. January s.—The cot ton market opened steady at an ad vance of 5 points to a decline of 1 point, a better response to the relatively firm showing of Liverpool being prevented by overnight selling orders brought in by the easier tone of yesterday. There was not a great deal of cotton for sale, however, and prices steadied as soon as the initial offerings had bee nabsorbed. with March selling up from 19.82 to 19.96 and July from 19.50 to 19.60, or about 8 to 13 points net higher, by the end of the first half hour. Private ca bles said that some continental and Bombay selling in Liverpool had been absorbed by fair trade calling and Lon SAFE FIRST MORTGAGES UNAFFECTED Unlike stocks, there is no rise j 6% FIRST MORTGAGES The income is definitely fixed throughout the term of years; and just as regularly as the A Third . . R „ semi-annual interest dates roll a around a check is in your hands. I Century . You tan buy these 6 % First o ; Without a . J r Mortgages in amounts from .. LOSS * frt s2oo up. >*jr t B. F. SAUL CO. Main 2100 925 15th St. N.W. THERE IS NO SUBSTITUTE FOR SAFETY cr THE GEMS % Vj» The Ruby \|» p / A A BOUT ninety miles Northeast of |Jk Jj . Mandalay, made famous by >l| Rudyard Kipling, lies the Mo* gak mine which for centuries was the principal source of rubies. This beau- tiful stone, which today is among the most valuable, has been prized for jmf JjW centuries, by Orientals, whose knowl- Jw mL edge and cunning were adeptly used iA. to ferret out the especially priceless \ stones of “pigeon’s blood” hue. \ 11 The trained eye of the Orientals, how- I K j, \ m ever, was no more adept than that of l\ m A \ the present day experts who can easily 1 \ distinguish between the genuine stone Band the synthetic ones manufactured A C from aluminum oxide colored with K N iron rust. Though both have the same K S chemical composition, there are great W 3 differences in the striations or $ Sometimes it takes an expert to see K S the difference between speculative in vestments and those of sound value, m S However, most investors play safe K > with the First Mortgage Notes issued M by Swartzell, Rheem & Hensey Co., for it does not take an expert to tell J A! IR that these are safe, profitable and /s a convenient. m £f ■ $ If you wish to invest in speculative I ' I P issues, consult an expert. If you wish I ' Ik to be sure of what your investment I < I R will bring you during the years to I Ifs come, put your money in these First I > IN Mortgages. I i \ Swartzell, Rheem & Hensey Co. m ] MORTGAGE BANKERS £j ) i| / \ 71? I» STREET N.W. / ly t \ WASHINGTON D«C» / V * FINANCIAL/ don buying, and that there was a fair inquiry for cotton cloth for export. TH* amount of cotton on shipboard awfcifiQg clearance was estimated at 164,000 bales, against 109.000 last year. Futures closed easy, 1 to 6 points lower: January. 19.72-74: MtreSt .19180- 82; May. 19.82-83: July. 19,46-4?:<JDc tober, 19.19. Spot quiet; middling, 20.00. I.H Markets at a Glance NEW YORK, January 5 oPV—Stocks heavy: Radio breaks sharply after opening 15 points higher. Bonds dull; activity chiefly on selling side; foreign exchanges steady; Japa nese yen lower. Cotton easy; unfavorable textile ad vices. Sugar steady; Cuban support. Coffee lower; weak foreign markets. CHICAGO POULTRY PRICES. CHICAGO, January 5 (X'\. —Poultry —Alive, easy; receipts, two cars: fowls, 25a30; Springs. 28: roosters, 20; turkeys, 25; ducks. 26; r<tsc, lll7 1 NOTICE TO HOLDERS OF WARDMAN PARK HOTEL, INC., FIRST MORTGAGE SINKING FUND GOLD BONDS DUE FEBRUARY 1. 1941, The Wardman Park Hotel, Inc., in accordance with Section 5 of Article 3 of its Mortgage to the Pennsylvania Company for Insurances on Lives and Granting Annuities dated February 1, 1926. hereby gives notice that it has elected to redeem on February 1, 1929, all of its outstanding First Mortgage Bonds secured by said Mortgage, at 105 and accrued interest to the date of redemption. Said bonds will be redeemed at the office of the Pennsylvania Company for Insurances on Lives and Granting An nuities, Trustee, at the rrdrmption price, upon surrender of said bonds for payment on or after February 1, 1929, after which date all interest on said bonds will cease to accrue. THE PENNSYLVANIA COMPANY FOR INSURANCES ON LIVES AND GRANTING ANNUITIES, C. S. W. PACKARD, President. 15th A Chestnut Sts., Phila., Pa. 13