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BONDS IE LOIR U. S. Issues Provide Excep tion to General Drift of Prices. BY VICTOR EUBANK, Associated Press Financial Writer. NEW YORK, January 30 —With the exception of United States Government securities the bond market today slip ped quietly to lower levels. Good news was conspicuous by its absence and traders exhibited growing caution in the matter of new commitments. Federal loans, however, were in some demand at higher prices. The Treasury Issues advanced around half a point and the Liberties were up fractionally. * Disturbances in the Far East con tinued to affect Japanese obligations and most of them added I or 2 more points to their losses of yesterday. Con solidated Electric Power, Japanese gov ernment 6'is, Oriental Development 5‘/2s and Yokohama 6s were subjected to considerable pressure. Reports from Chicago of a disagree ment between the rail executives and union leaders on the wage reduction negotiations acted as a deterrent to transportation securities. Practically the entire carrier section registered declines, although they were moderate In most cases. Dealers point out that the railroad liens, although sagging during the past few days, are still many points above their lows of December. Utility mortgages showed some rally ing tendencies, but their tone was gen erally irregular. The industrials de clined in varying degrees. The foreign category was mixed. German 7s were slightly higher and Italian 7s advanced. Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., January 30.— Under moderate receipts and a fairly good demand the live poultry market, with the exception of old hens, holds steady to firm, with all desirable stock meeting with ready sale, but poor, thin fowl is hard to move at uncertain val ues and mostly at discounts. Young hen turkeys, 8 pounds and over, are bringing 28 to 30 cents a pound, and gobblers, 12 to 15 pounds, 23 to 25, but old hens, toms and large gobblers, as well as crooked breasts, are slow sale at 20 to 22 for the former and 16 to 18 for the latter. An Improvement is noted in the demand for mixed colored young chickens at 17 to 20 for medium to large, but Leghorns will not bring over 14 to 17, and all poor, thin stock is neglected at 11 and 12. Old hens con tinue draggy and very little life to the demand at 13 to 18 for stock weighing 34 pounds and over, but Leghorns will not bring over 14 and 15. while all poor, light fowl, as well as old roosters, are generally neglected at 10 to 12. Capons are in fair receipt, with all large, fat birds selling readily at 24 to 28, but smaller, as well as slips, move slow at 20 to 22. Choice fat young ducks in fair demand at 15 to 20, but stock un der 4% pounds is hard to place at 12 and 13. Demand for geese limited, and under ample receipt the market is dull at 14 to 17, but all poor, thin stock is not wanted at any price.. Guinea fowl and pigeons holding steady and un changed at 30 to 60 each for the former and 20 to 25 a pair for the latter. Egg Price*. The egg market continues easy under fairly liberal receipts and demand slow, with prices in buyers’ favor in sym pathy with other leading markets Dealers generally in buying regular firsts in preference to paying any premium for henneries which, unless very fancy, have to be sold as firsts. The market closed today at 16% cents a dozen for nearby firsts, a de cline of 1% cents a dozen under open ing prices Monday and 18 for current receipts. Market for white potatoes, holds steady under moderate receipts and a fair demand, but the prices show no change at 75 to 1.00 per hundred pounds. Sweet potatoes, in generally good demand and market holds steady 1 at 1.00 to 1.25 per barrel, while yams show a slight advance at 75 to 1.25, with ungraded No. 2 stock selling most ly at 50 to 75. Receipts of native and nearby gar den truck have been generally light the past week and values show an In crease on some lines at the following Quotations: Kale, 20 to 30 bushel; onions, 3.00 to 4.00 per 100 pounds, oyster plants. 4 00 to 5.00 per 100; spinach, 25 to 65 bushel; washed turnips, 15 to 40 ham per. Live Stock Price*. The live cattle market continues dull and in active and while values show little change from last week only choice fat stock attracts attention and all common undergrade cattle move slow at inside prices. Quotations today at Light Street Wharf: Beef cattle, first quality, pound, 6 to 7; common to medium, 3 to S. Bulls, as to quality. 212 to 4. Cows, choice to fancy, 4 to 5; common to fair, 2 to 3. Oxen, as to quality, 3 Vi to 4. Calves, veal, choice, 8 to 8Vi; large, fat, 7 to 7Vi; large, rough, 5 to 6; common, thin, 8 to 4. Sheep, Vi to 2 Vi. Spring lambs, choice. 5V2 to 612; fair to good, 3 to 5. Hogs, straight, 4 to 4%. Sows, 3 to 3>/i. Stags, 2 to 3!i. Live pigs, 8 to 10. Shoats. 6 to 8. Closing grain quotations: Wheat—No. 2 red Winter, garlicky, spot, domestic, 62. February delivery, 62. Corn—No. 2 yellow, domestic, 43a44; cob com, 2.00a 2.10 per barrel. Oats—No. 2, white, domestic, 35a36; No. 3, white, domestic, 34a35. Rye—Nearby bag lots—40a45. ARTISTS NOW CAN SWAP WORKS FOR NECESSITIES Paris Exchange Salon Solves Prob lems of Painters and Merchants. PARIS—because there is overproduc tion of paintings and because there is underconsumption of general commodi ties, the Exchange Salon has been created in Paris. There you can swap a still life for a pair of shoes or a Sea scape for a Winter overcoat. The salon has the patronage of the minister of commerce and the under secretary for fine arts, each anxious to fight depression in his particular sphere. If the artist cannot sell his canvases, and If the haberdasher cannot sell his shirts, resort to barter may lead to an exchange of wares to mutual benefit. Money is not excluded entirely, for it is possible that a sculptor with sev eral busts on his hands would have no use for the antique furniture cluttering up a curiosity shop. It has been noted that the budding Whistlers from the Latin Quarter are readiest to exchange their patntlsgs for barrels of wine. NUMBER WAR PENSIONERS Prance Pays 2,500,000, Chamber of Deputies Learns. PARIS—Figures asked by the Finance Commission of the Chamber of Dep- 1 utles have just been issued, showing the number of pensioners in France resulting from the war. The total amounts to more than 3, 600,000, divided as follows: Disabled and wounded,' 1,089,000; widows and orphans, 644,000; parents of dead soldiers, 864,000. _ —. r • BOND SUMMARY FOR THE WEEK UNITED STATES GOVERNMENT. - 1931_, Net High. Low. Stock and dividend. High Low. Close. Chge 102 23 97 11 Lib 3%s 1933-«7. 94 18 94 2 94 16 +.12 103 16 98 26 Lib 1st 414a 1932-47. 98 16 97 26 986 +.10 106 6 98 44 Lib 4th 4W» 1933-11. 99 16 9822 99 11 +.18 103 16 9030 U S Itts 1940-43. 91 24 90 9124U.07 103 18 . 9020 U S 3H» 1943-47. 90 10 88 28 90 10+1.06 107 22 94 16 U S 344s 1946-66. 92 4 91 8 92 2 +.10 109 22 97 26 U S 4s 1944-64. 96 16 96 96 9 -.01 114 8 100 2 U S 414s 1947-63.100 15 100 7 1009 -.2 /—1(31.—. Net High. Low. Stock and dividend. High. Low. Close. Chge. 101 75 Abeam A Straus 6 %s'4».. 83 82% 83 -14 8714 26 Alleghany Co cv 6s'44... 40*4 36 87 —214 102 86*« Am Chain 6s 1938. 871s 86 87% +2Vi 102 52 Am I G Chm 6%a 1949... 69 6714 67V* + 44 954* 68 Am Internation 614s '49.. 69 69 69 6114 3 Am Natural G 614s'42... 314 314 314 104 86*» Am Sm A Kef 1st 6s '47 .. 9514 93% 93!i -1 10514 10114 Am Sugar Ref 6s 37. 103 10114 10114 - % 1351s 961s Am Tel&Tei cv 414a'39.. 1054s 101% 101** -3 1091s 94 Am Tel & Tel s f 6s. 98% 951s 954* -244 71V* 15 Am Writ Pap 6s 47. 24 2314 2314 -144 98ls 3514 Argentine 6s J une'69.... 64 521* 52V* -1 98% 361s Argentine 6s A‘67. 541s 5214 621* -114 92 64 Armour A Co 414s '39.... 751* 74V* 744* + V* 8014 63 Armour of Del 614s'43... 654*. 63i» 6314-114 101 8114 Atch T A S F gen 4a'95. .. 87*s 8514 8514 - 14* 122 81 Atch To A S Fe 414s 48.. 92 904s 91*4 98 76 Atlantic C L 1st 4s '62.... 7714 76 76 -2 10314 89 Atlantic Ref deb 6s'37... 914* 90 90 -3 76 35 Australia 6s '66. 674* 6114 52 —614 10844 76 Austria 7s’43. 92 881s 92 +1 99V* 74 B A O gold 4s '48. 83 8114 8114 -114 1014* 69 BAOcv414s'33. 824* 794*. 80 -21* 109 80 Balto A Ohio 6s '48. 931* 9l!s 92 -1V> 1044* 47 B A O ref 6s '96. 6914 61 61 -8 1044* 50 B A O ref 6s D 2090 . 68 60*4 604s -744 110V* 5314 Balto A Ohio 6s'96. 761* 73 73 -214 99 62*« BAOPLE& VV Va4s... 78 78 78 +2 1061s 634* B A O S W Dlv 6s 60. 7944 754s 78 -21* 9314 60 Bangor A Aroos 4s '61.... 64 63V* 6314 —11s 88 8 Bank of Chile 614s'67.... 164* 151s 1514-2 91 22 Bank of Chile 64*s 1961.. 29% 27 2714 -214 106 72 Belgium 6s'55. 824* 80 81 + % 11114 994* Bell Tel(Pa> ref 6s 48... 10014 9S4* 99V* + 14 104 8919 Beth Steel p m 6s'86. 944* 93 9314 — % 36 5 Bolivia 7s ct 69. 61* 5% 6V* + 14 106% 95 Bordeaux 6s'34. 99% 99 99% + % 103V* 62 Boston A Maine 6s'67.... 73 70 70 -2% 70% 18 Brasil 6%s 1926-67. 21 20' 20%-% 93 18 Braill 8s'41. 264* 24 24 -2% 9 2% Broadwy A 7th Av 5s’43. 34s 3% 3% -14* 102% 80 Brooklyn Manb 1st 6s A. 86% 83% 84** - 4* 106 9844 Brooklyn Union 6s ’60.... 964* 95% 96% -1% ,-1911_, Net Hlih. Low. Stock end dividend. Hlih. Low. Close. Chge. 100% 79 Italy 7s ’SI. 69% 87 88 + % 107% 77% Japanese 9%s >*4. 84 77% 77% —8% *1% 69 Kan City South 8s 1950... 67 66 66 -2% 102% 48 Kan City South fis ’60_ 67% 66% 66%-% 98% 81 Kan City Ter 1st 4a ’60... 87% 83% 83% + % 100 80 Kan Gas & Elec 4%s 80. . 81 79 79 -3 71 39 Kendall 6%s’48 (war)... 54 51% 54 42 94% 87 Kreug&Toll 5sct wi’69.. 69% 67 57% -1% 106 90% Lackawanna Steel 6s '50.. 90 90 90 —1 108% 66 Laclede6%s D’*0. 70% 70 70 -5% 89% 40 Lehigh Val cn 4s 200*.... 57% 57% 67% +2% 109 96 Liggett* Myers 6s >61... 99 98% 99 '+ % 99% 70 ooew’s Inc 6a ex war’41.. 82 80 81% 100% 77 Louis & Nash uni 4s >40.. 84 81 81 -2% 98% 79 Market St Ry 7s A >40.... 85% 84% 84%-% 9% 1% Mexico 4s 1904-64. 2% 2% 2% -2% 104% 85% Midvale Steel 6s'36. 94 93 93%-% 91 57 Milan 6%s’62. 68% 66 66 -1% 104% 84 Mil El R& List ref 6s... 92 88% 88% - 2% 92 68% Mo Kan & Tex 1st 4s’90.. 76 75 75 -1 95 34 Mo Kan & Tex adj 6s’67.. 60 66% 66% -1 103% 61 Mo Kan & Tex pr In 6sA.. 77 75% 76% -1% 76 22% Mo Paclflo gen 4a ’76. 40% 36% 37 -2 100 43% Mo Pacific 5s A ’85. 61 68% 59% — % 99% 42% Mo Paclflo 6s K. 58 64% 64% + % 99 43% Mo Pacific 6s G. 68 54 64% — % 99 43% Missouri Pacific 6s H’80. 68 55 56 - % 106 86 Montana Power 6s 1943.. 95% 90 90 -5% *3% 36 Nassau Eleo 4a >61. 46% 44% 44% -1% 102% 84% Nat Dairy Prod 6%s ’48.. 90 87% 88% -1% 26% 6 Nat Radiator 6%s 1947... 11 8 10 -2% 106% 97 Netherlands 6s >72. 104 103 103% -1 112% 99% New England Tel 6s'62.. 100% 97% 98% -2 69% 28 New South Wales’67. 51% 49 49 -2 102% 78 N Y Cent deb 4s’24. 90 88 88 -3 109 68% N Y Cen ref Imp 6s 2011. . 76 73% 73% -2S 107% 70 N Y Cent deb 6s ’35. 92 89 89 -3 93 12 NY Chicago & StL 4%s’78 36 32% 33% 107 18% NY Ch * S L ref 6%s A.. 41% 36% 38 -1 101% 14% N Y Chi & StLouls 6s ’82. 67. 49 51% +2% 117% 106 N Y Edison lst6%s’41... 108% 106% 107% -2% 96% 68 N Y N H * Hart 4%s ’67. 73 70% 70% + % 106% 76 N Y N H * H clt 6s’40. ... 88% 86 -88 - 1% 119 74% N Y N H & H cv deb 6s... 90 88 89 -% 4% % NY Ry 6s ’66. 2 2 2 106% 96 N Y Tel 4%s ’19. 98 95% 96% -2% 87% 41 N Y Wes * Bos 4%s ’4*.. 60% 60% 60%-% 100% 84 Norfolk A W en 4s'9*.... 89 86 86 —2 105% 75% Not th Amer Ed 6s’67.... 89 89 89 +2 69% 46% North Pacific Is 204T. 69% 67% 58 97 74 North Paclflo 4s’97. 79% 77% 77% -2% 106% 62% North Pacific 6s D 2047... 74 70 73 113% 70% North Paclflo r 1 6s 2047 .. 87% 83% 84% -8% 105% 89 Northern States Pow ts.. 96% 94% 94% + % 103% 62 Norway 5%s. 72 68% 69% + V* 108% 83% Canada 6s 62.. 89% 88% 88%-% 102% 69% Canada National 4 Vi *'6*. 76% 74% 75% - V* 102% 68 Canadian Natl 4%s ’67... 76% 75% 76% + % 102% 68% Canadian Natl 4%s 61... 76 74% 74V* - % 108% 75% Can Nat July 6s'69. £1% 80% 81% + % 108% 76 Canadian Natl 5s'69 Oot. 81% 80% 81 +% 89% 56% Canadian Pacific deb 4s.. 61% 59% 69% -1 99 71 Central Paclflo 48'49. 79 76% 76% -2% 105% 60% Central Pacino 6s 1960... 74% 72% 72% -1% 60 30 Certain-teed 6%s 1946... 39% 38 39 +2 100% 69% Chesapeake Corp 6s '47... 75% 70 70 -8 106% 77% ChesAOh gen 4%s'92... 91% 90% 90% -1% 103% 76 Ches A Ohio 4%s’93 A... 82 80 80%-% 102% 71 Ches A Ohio 4%s B'96... 83 80% 83 -+2% 104% 82 Cht B A Q 4%s B'77. 87 85 85% -1% 110% 90% Chi B A Q ref 6s 71. 96% 96 96 - % 50 7% Cb A East 111 gen 6s'51.. 16% 16 15% - % 69% 35% Chi Great West 4s'59.... 63 60 60 -2 76 24 Chi M St PA P 5s'76. 38% 35 36% -1% 36 5% Chi M St PA Pad! 5s- 11% 10% 10%-% 93 23 ChicagoANwn cv 4%s'49. 36% 31% 32 -2% 109% 65% Chi A N W 6%s '36. 86 85% 85% 74 39% Chicago Rys 6s'27. 49 49 49 + % 99% 40 Chi R 1 A Pac ref 4s 14.. . 70 62% 62% -6% 92% 25 Chicago Rock Jsl 4%s'60 48 42 42 -4% 95% 34 Chicago R1 4%S A. 57% 53 54 -1% 106% 81 Chi Union Station 4 %■... 92% 91 92 +2 116% 106% Chi Union Station 6%s... 108 106 107% + % 92V* 54% Chi A West Ind con 4s... 73 64 64 —8 105% 68 Chi A West Ind 6%s'82.. 80 78 78 -2 86 10 Chile Republic 6s 1960... 13% 11% 12% -1% 95% 45 Chile Copper 6s'47. 62 ^>0 52 101% 50 CCCAStLrf 4%sE'T7. 70 67 67 -3 105 61% CCC A StL 6s D. 68 68 68 -7% 109% 89 Cleveland Term 6s B '73.. 93 92 92 —1 111% 91% Cleveland Terminal 6%s. 97% 97 97% -4% 78 19 Colombia 6s 1961 Jan.... 28% 27 27% + % 70 20 Colon Oil 6s 38. 35 33% 33% -1% 102% 74 Colo A Sou ref 4%s'66... 90% 90 90% + % 101% 62% Columb G A E deb 6s'62.. 78 76 76% -1% 100% 78 Comm Invest 6 Vis'49.... 82 79 80 —3 48% 20% Con Coal (Md) 1st ref 6a. 20 19 19 - % 70% 30% Cuba R R 6s’62. 38 36% 38 -3% 47 15 Cuba North 6 Via ’42. 20% 19% 20 -1 111 80 Czechoslovakia Is'61.... 93 90% 91 -6 88 67% Ore Wash 1st ref 4a *61... 75% 74 74% + % 96% 54% Orient Dev 6 %s'67. 66% 67% 68 —8% 106% 94% Pacific Qas& El 6s ’42.... 100 96% 96% -3 108% 99 Pacific Tel & Tel 6s'62... 100% 97 97% -2% 103 99% Pan-American «s'34. 101% 101% 101% 97 40 Para-Fam-Lasky 6s ’47.. 62% 61% 52 105 89 Parls-Lyons-Med 6s'66.. 95% 93% 95% +2 105 89% Paris Orleans 6%s 1968.. 90V* 88% 89% + % 107% 90 Penna cn 4%s I960. 91% 90% 91 -2 105 65% Penn gen 4 %s '86. 83% 81% 82% + % 99V4 65 Penna RR 4 %s ’70. 71 68% 68% — % 102% 60 Penn 4 % s '63. 79% 77 77 105% 69 Penn 6s 1964. 85 82 82 -3% 111% 77% Penn gen 6s'68. 92% 90% 90% — % 110% 94 Penn 6%s '36. 100% 99% 99% —IV* 40% 6% Peru 6s'60. 7 6% 6% — % 61 9% Peru 7s. 11% 11% 11% _ % 104 80 Philadelphia Co 6s'67 .... 85 82% 83% —1 83 30% Phll&Read C&I 6s wl '49. 50% 47 48 92% 45 Philips Petrolm 6%s'39.. 62 48% 60% +2% 104% 85% Pirelli Co of Italy 7s'62. . 90 90 90 -2 96 42% Pittsbgh$\Wa 4%s C'60 61 50 51 +% 90 32 Poland 8s '60. 54 52 53% — % 74% 23 Postal Tel & Cab 6s'31... 34 28 30 -4 88 36% Queensland 6s'47. 69% 55% 55% -6% 99 50 Queensland 7s'41. 74 69 69 -5 103% 68 Reading 4%s'97. 79 76 76 -2% 91 32 Remlng-Rand 6%s '47... 44% 37 37 -6 93% 23 Rhlnelbe 7s. 35 34% 34% — % 89V* 25% Rhine Westphalia 6s'62.. 49% 34% 38% + % 87% 12 Rio de Janeiro 8*'46. 17% 16 17% +1% 65% 7% Rio Grande Do Sul 6s'68. 9Va 9 9 _ 86% 40 Rio Grand West col 4s... 64 48 48 + % 1004* 32 R 1 Ark & L 4%s '34. 69 61% 67 4-6% 91% 60% Rome6%s’62. 68% 67 67 —1 lOOVi 67 S L I M & S R * O 4s 'IS.. 81% 78 78 -2 89% 23 St L A S F pr In 4s A'60.. 32% 29 29% + % 86 14% St L A S F 4%s'78. 25% 22 22%-% 102 25 St L & San Fr 6» B’60.... 39% 36 36% —2% 100% 30% St Louis S W con 4s ’*2... 83 68% 75% +6% 98% 40 St P K C 8 Line 4%s’41.. 60 54% 54%-% 94 28% Sao Paulo State of 1*’36. 46% 46V* 46% — % 19% 2% Seaboard A L con 6s '45.. 5 6 5 _ ^ 84% 28% Serbs.CroatsASlav7s’62. . 35% 33 35 +1% 93 30 Serbs Croats Slov 8s‘62.. 43 40 40 — % 100% 70% Sinclair OH 7s’37. 84% 83% 83% — % 103% 90 Sinclair Crude 011 6%s. .. 95% 94% 95 102% 88 Sinclair Pipe Line 6s’42.. 93 92% 93 + % 107% 97% Southwea Bell Tel 6s’B4.. 98% 96% 97 -1% 97 65 South Pacific col 4s’49... 70 68 68 - 1% 98 73 South Paclflo ref 4s’65... 81 78 79% — + 99% 53 South Pacific 4 %s ’68.... 70 65% 65% —4% 100 53 Southern Pac 4% s’69 ww 70 64 64 —4 102% 70 Southn Pac Ore 4%s'77.. 81 76% 76% -4% 88% 27 Southern Ry gen 4s 56... 52% 49% 49% —1% 111 67% Southern Ry 1st 6s'94... 84 82 83 —1 113% 34% Southern Ry gen 6s’66... r4 60% 60% -5% 117% 40 South Ry dev 6 %s ’66.... At 64 64 —3 105% 98% Stand Oil N J 6s. 100% 99% 99% — % 10L 83 Stand Oil N Y 4%s '61_ 90% 89 89 -1 107 98% Swiss 6 %s'46. 102% 102 102 + % 100 64 Texas Pacific 5s B 77.... 68 66% 68 — 1% 100 60 Texas Pacific 58 C'79.... 69 68 68 —1 68 39 Third Ave 1st ref 4s'10.. 47% 47 47% + % 48% 23 Third Ave adj 5s'60.. 37% 35% 35% — % 101 60% Toho Elec Pwr 7s'55. 66% 56% 56%-10% 102% 85% Union Paclflo 1st 4s ’47... 89% 86% 88 —1% 95 65 Union Pacific 4s‘68. 74 73 73 —1»* 98V* 67% Un Pacific ref 4a 200*. ... 79 77% 77% -1% 102% 80% United Drug 5s'63. 89 87 87 -1% 108% 88 Utd Kingdom 5%s'37.... 95% 93% 94% + % 76% 35 U S Rubber 1st A ref 8s. . 68% 49% 60 —7 88% 20% Uruguay 6s 1960. 34% 31 33 -1% 104% 79 Utah Power & Light 6s.. . 89% 87% 87% —2% 84 40 Utilities P A L 6%s'47... 47 44% 44% + i., 89 50 Vienna 6s 1962. 69 65 58 +2% 105 92% Va Ry A Power 5s’34.... 98% 97% 97% - % 108% ^.77% Virginia Ry let 6s’62.... 87 86 86% + % 89% 7 Wabash 4%s 1978.. 16% 12 12 —1% 105 69 Wabash 1st 5s‘39.. 75 69% 69% +4% 96% 8% Wabash 5s B 1976. 19 15 15 +1% 96 9 Wabash 6s D’80. 16% 13% 14 102% 8% Wabash 6%s’76. 19 14% 18 +4% 79 20 Walworth 6s ’46. 25 22 22 —2 70 26 Warsaw 7s 1968. 37% 36 37% - % 94% 61% West Shore let 4s 2381... 70 68 68 -5 84 39 West Maryland 4s’5*. ... 60 65 55 —3% 96% 35 Weet Maryland 6%s’77.. 62% 60 60 —1 97 30 Western Pacific 6s'46.... 47 44 46 +2 111 76 Western Union Tel 6 %s.. 93% 92 93% +1% 101 78 Wilson A Co 1st 6s’41.... 79% 78% 78% _i 101% 61 Yokohama 6s’61. 74 60 60 —15 103% 45 Youngstown Steal 5s '7*. 69 68 68 -1% 102 56 Denmark 5 V4» 1956. 72 70V* 704 - V4 10714 6514 Denmark 6s '42. 774 76 761* -ly* 98 46 Den & Rio Grande cn 4a.. 66 63 63 -2 83 15 Den A R G Weat 6a’56... 36 33 33 -2 85 26 DenARG West 6a’73... 464 44 41 -24 9314 734 Dodge 6s’40. 811* 80 804+1 1061* 93 Duquesne 4He 1967. 961* 941* 94V* —24 1021* 69 Dutch East Indies 6s’47. . 831* 81V* 83V* + 2V. 102=4 68 Dutch East Indies 6a’*2.. 81 79 81 +2 89V* 63 Erie lit con 4s’98. 724 67 67 -4V* 79V* 881* Erie gen Hen 4s ’96. 671* 55 551* + V* 8414 26 Erie ref 5s'67. 47 42 42V* -2V* 84 26 Erie 6s'76. 47 41V* 4214 -2V* 99 85 Finland 7s’60. 60V* 494 50V* + v« SOV* 314 Flor East Coast 6s'74.... 6 5V* 5V* + V* 12114 108V* French 7a’49. 1101* 1094 1104 + 14 127 1094 French 74s’41. 11114 1104 lllv* + y, 94V* 274 Gelsenkirchen Min 6s’34 374 354 374 +14 92V* 36 General Cable 61*s 1147.. 484 44 444 + v* 1 1044 974 Gen Motors 6s’37. *94 99 99 V* 84 224 Ger Gov 61*s’65 wl. 38 354 364 + V. 894 224 GermWSBank 6a 193*.... 40 37V* 394 + IV* 1054 434 German 7s’49. 634 58 694 +14 1024 55 Goodrich (B F) 64s’47.. 70 684 684 -14 924 64 Goodyear Rub 6s 1967.... 754 73 73 —24 1084 834 Grand Trunk s f deb 6s... 90V* 894 90V* + 4 1134 86 Grand Trunk 7s'40. 954 94 944 + 4 100 564 Great North 4 4s’76. 69 674 69 +4 111 66 Great Nor gen 54s ’52... 814 814 814 +1*, 112 83 Great North can 7s ’16... 964 924 934 —14 884 324 Greek 6s 1968. 374 34 374 +2 81V* 2V» Havana Elec Ry 64s. 6 6 6 +24 79V* 49 Hudson A Man adj 68*67.. 60 584 684 — 4 1024 70 Hud A Man ref 5a ’67..... 84 82 824 — V* 1034 984 Humble Oft R54»'I2... 1004 1004 1004 + 4 93 36 Illinois Cent ref 4s ’65. ... 61 494 60 —1 100 224 Illinois Central 4V*»'6*.. 47 43 43 —24 974 724 Inland Steel 44» 1978- 794 78 78 -1 774 874 Inter Rapid Tran 6s’66.. 604 48 48 — 4 78 *64 Inter Rap Tr 5s sta'66... 60V* 48 48 — 4 65 234 Inter Rapid Tran 6s’82.. 384 344 344 -1 96 66 Intsr Rapid Tran cv 7s... 704 69 69V* — 1* 100 60 Inter Cement 6s’48. 69 69 69 -1 65 12 Inter Gt Nor adj ’65. 23 20 20 994 39 Intsr Match 6s’47. 60 56 58 +2 97 43 Inter Mer Marins 6s ’41.. 454 454 454 + 4 78 44 Inter Paper 6s A 47. 53V* 48 49 -3 74 20 Inter Ry Cent Am 6 4s... 26 26 26 +4V* 96 31 Int TelftTel ov 41*s’39... 554 50 51 -8 1074 644 Irish Free Btate 6a ’60.... 73 714 714 -2V* quarterly common dividend; formerly paid 33 Vi cents monthly. Du Pont (E. I.) De Nemours A Co.— Cellophane subsidiary files patent in fringement suit against Sylvania In dustrial Corporation. Electric Shareholders net asset value December 31, 1931, *3.36 a common share. Floresheim Shoe to defer action on class A and B common until earnings rate is determined. Inland Steel operating 35 per oent of capacity. Key Boiler Equipment defers action on quarterly common dividend until February meeting. National Refrigerating 1931 deficit, $752,286, vs. net Income, $1,002,386, equal to *1.30 a common share. Spiegel, May, Stern Co.—Declared $3.25 preferred dividend on account of accumulations; paid *1.62Vi, November 1, 1930. Union Tobacco 1931 net Income, *59, 331, vs. deficit, *8,716. Westinghouse Electric A Manufac turing—Subsidiary, Westinghouse Elec tric Elevator,jrgets Radio City contract for 74 elevators. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. Trade Trends By th* Associated Press. Construction contracts—Heavy engi neering contracts awarded in the United States in the past week represented total expenditures of $22,573,000, says the Engineering News-Record. This compares with $16,950,000 in the pre ceding week and $37,035,000 in the cor responding week last year. Copper—Copper interests hear that custom smelters continue to offer metal abroad at 7% cents a pound, compared with the recent “regular” price of 7%. Sales effected at the lower price have been moderate, it is said. Domestic consumers show very little interest in the market, even with second copper available at concessions from the 7 cent level. Cocoa—Manufacturers are said to have bought spot cocoa in good volume in the past week. Prioes on the New York Cocoa Exchange declined early in the week on statistics showing 400,000 bags afloat to the United States from West Africa and Brazil, but the week closed with most of the decline recovered. Silver—Sino- Japanese war reports have not altered so far the general aspect of dullness of the market. Be cause of the situation in Shanghai, native banks in that city outside the foreign settlement are reported closed, but the more important Chinese banks are within me settlement. NEW YORK, January 30.—The fol lowing Is today’s summary of important corporation news, prepared by Standard Statistics Co., Inc., New York, for the Associated Press: New* Trend. As earnings continue to be reported It becomes more evident that December railroad revenues will make a less fa vorable comparison with the like month last year than November. The first 55 carrier* had combined net operating Incomes of (21,123,000 In December, a deWne of 47.4 per cent from December, 1930; which compares with a 46.6 per cent decline in November. The Industries. Oil.—Oklahoma City field allowable output cut to 95,000 barrels dally from 120,000. The Companies. Archer-Daniels-Midland Co. common share earnings, six months to December 31, 59 cents. Cluett, Peabody St Co. 1931 common share earnings, $1.45, vs. $2.53. Oreen Bay dc Western Railroad passed annual dividend on class B stock; paid $10 on each $1,000 certificate February 9, 1931. Pennsylvania Water St Power 1931 common share earnings $4.78, vs. $4.55. Sears, Roebuck Sc Co. 1931 common share earlngs $2.47, vs. $3.01. Westvaco Chlorine Products common share earnings, year ended January 2, 1932, $1.79, vs. $2.52 In year ended De cember 27, 1930. Alpha Portland Cement received con tract from Illinois Highway Department for 1,300,000 barrels of cement. Colorado Sc Southern Railway Decem ber net operating Income (Including Fort Worth St Denver City and Wichita Valley Railway) off 32.4 per cent; 12 months off 13.4 per cent. Curtis Publishing declared 10-cent Louisville Sc Nashville Railroad De cember net operating income off 38.3 per cent; 12 months, off 32 per cent. National Dairy Products—Sheffield Farms increases price paid to farms for milk by 10 cents a 100 pounds; con sumer price to remain unchanged. New York Central. Railroad Decem ber net operating Income off 80.6 per cent; 12 months, off 50.9 per cent. American Radiator Sc Standard Sani tary declared 10 cents quarerly com mon dividend; formerly paid 15 cents. Westlnghouse Electric and Manu facturing 1931 loss expected to approxi mate $3,250,000. General Railway Signal—Agreements approved for signal installation on Brooklyn-Manhattan Transit Corpora tion lines; about $500,000 involved. Atchison, Topeka Sc Santa Fe Rail way December net operating Income off 64.1 per cent; 12 months, off 29.8 per cent. Southern Railway December net op erating income off 82.5 per cent; 12 months, off 58 per cent. Held in Trading Wife for Farm. Roderick Murray of Belfast, Ireland, was arrested for giving his wife to Patrick Corcoran m exchange for a farm. •. BABY HIKER, 2, STOPPED Brooklyn Child, With 21-Tear-Old Uncle, Is Returned Home. NEW YORK (N.A.N.A.).—It will be some time before points west of New York see Phyllis Cushing on a hiking tour, according to late reports. She started out with her 21-year-old uncle from their Brooklyn home, determined to walk to San Antonio. 1*wo miles from the house a police man stopped the cross-country march and took the pair home. Phyllis la a years old. NEW YORK STOCK EXCHANGE (Continued From Page 2.) ,_i*ji-- Stock an d Sate*— Set. Hlah. Low. Dividend Hate. Add 00. High. Low. Clo«e. (Jh*e. 1214 1% US & Forn Secur. ... 28 3)4 244 3 30)4 4)4 US Freight. 6 6)4 6)4 6)4 -2)4 60 14)4 U S Gypsum (1.60).. 14 21)4 20V4 20)4 7744 2044 U S Indus Alcohol.. .20060« 26)* 22)4 234* -2)4 1044 144 U 8 Leather. 8 2)4 2)4 2)4 — W 1614 3)4 U S Leather (A)- 3 6 414 6 86)4 67)4 U S Leath pr pf (7).. 1 86)4 65)4 65)4 — 14 3714 1* U S ripe & Fdry (2). 66 14V* 13)4 18)4-1)4 8644 6)4 U S Realty & Imp.... 11 8 744 714 -14 2044 3)4 U S Rubber. 49 4)4 314 4)4 — 4* 86)4 6)4 U S Rubber 1st pf... 6 9)4 8 8 -1 264* 124* U S Smtg & Ref (1).. 68 1644 16 1514 + 44 47 35 U S Smtg&Ref pf 314 9 3714 36'4 37'4 +1 16244 36 U S Steel (2). 2088 43 36H 37*» - 344 160 94 US Steel pf (7). X 68 104)4 98H 994* -34* 944 1 44 United Stores (A)... 66 3 2)4 24* + 14 62 21 United Stores pf (4). 54 43 3644 42 +6 4114 1614 Univ Leaf Tob (3)... 1 18 18 18 -1 110 8014 Univ Leaf Tob pf(8). 10a 81 j 81 81+44 6714 24 Univ Pic 1st pf (8).. 260* 60 46 49 +2 4 14 Univ Pipe & Rad.... 1 14 14 14+14 31 714 UtllPwr&Lt A (2). 93 9V* 844 8V* - V* .— 1M1-■ Stock cad Sue*— Wet. Hlch Low Dividend Rate Add 00 Hlsh. Low. Close Ohcc 12 13H Warren Fdy & P 1.20 12 13 l2y* 1214 -H4 2614 12 Wesson OH*Sno(2).. 3 1114 12(4 1S14 —1 6714 4414 Wesson O&Sn pf (4). 2 484k 481k 4844 — 44 101 4914 West Pa El pf (6)... 140* «1 6044 61 -814 112 66 West Pa El pf (7)... 120» 74 7044 7144 +344 118(4 88 W'est Pa Pwr pf (6). 120e 91 87 87 -7 120 93V* WestPaPwrpf (7). 290» 107 101 106 +814 4414 8V* Western Dairy (A).. 1 llli 11(4 1114 1214. 214 Western Dairy (B).. 4 214 8 3—14 1944 6(4 Western Maryland.. 68 744 844 644 — W 20 6 Western Md 2d pf... 4 8 744 744 — 44 1414 144 Weetern Pacific. 3 814 8 3 -1 8144 8 Weatern Pacific pf.. 8 6(4 614 614 16044 88(4 Weetern Union (6). .27060* 42 84 35H -614 8614 11 Westlnghse A B(2).. 25 1444 1814 14 - 14 10744 22(4 Weltlnghovs* (214). 864 2644 2344 2444 - 14 11914 60h Westlns+s* 1st (* V4 ) 120* 7244 694* 6944-214 28 6 Weston Elec Inetru.. 8 714 7 7 26(4 7H White Motor. 2 9 814 814 + 14 4744 20 White Rock (4). 4 27 26 26 - 14 6 14 White Sewing Mach. 4 1 14 14 — 14 1044 1 White Sewing M pf.. 4 1H 1H 144 + 14 944 244 Wilcox Oil & Gas_ 12 4 344 4 + 14 8 144 Wlllys-Overland.... 28 244 214 214 — 14 6614 1414 Wlllys-Overland pf.. 4 26 24 24 — 14 344 44 Wilson* Co. 2 14 % % — 44 1044 144 Wilson & Co (A) .... 8 244 214 214 — 14 8144 16 Wilson* Co pf. 4 22 21 21 -3 7244 86 Woolworth (2.40)... 8363 4414 4014 4144 + 14 10614 1614 Worthington Pump.. 51 2114 18 1844 -114 27 714 Wright Aeronautical 110» 7 6 7 —1 8044 46 Wrlgley (Wm) (4). ■ 69 63V* 48K 6014 -214 2 % Vadsco Sales Corp... 4 % % % 28 14 Vadsco Sales pf. 2 17 17 17 -3 60 22 . Van Raalte 1st pf.... 10* 84 34 34 -1 7644 11' Vanadium Corp. 76 1414 1244 13 — 44 814 % Va-Car Chemical.... 4 44 4| 44 — V* 17 24* Va-Car Chem 6% pf.. 1 4 4 4 — % 7144 34 Va-Car Chem pf (7). 2 ,39 39 89 —14 109 81 Va Elec&Pw pf (6).. 20s 88% 88% 88% + % 7144 2014 Vulcan D’ttnning (2) 1480s 26% 19% 21 -4% 97 69 Vulcan Detin pf (7) ■ 20s 69 69 69 +1 ~26 % Wabash R R. 71 344 244 314 + V* 61 1% Wabash R R (A). ... 81 6 444 614 + 44 27% 174, WaldorfSys (1%).., 10 16 16% 16V* - V* 16 1% Walworth Co. 1 2% 214 2V4 — V4 27% 614 Ward Baking (A)... V 10 10 10 +1 84, 1% Ward Baking (B)... 6 244 2% 2% 67% 24 Ward Baking pf (7). 2 37 37 87 - 14 204, 2% Warn Bros Pictures. 141 3% 3 8 — % 40% 8% Warner Bros Piet pf. 2 10 10 lo -2% 74, % Warner Quinlan. 1 114 1% 114 - % 464, SV* Warren Bros. 14 6 4% 4% — 14 80 8S4 Yale & Towns (1)... 10 1014 914 914 —114 1614 * Yellow Truck. 28 414 844 4 — 14 29 6 Young Spring*W (1) 8 8 714 714 78 12 Ygatwn Sheet&Tube. 1 1314 1314 1314 + 14 614 44 Zenith Radio. 2 111 14 614 Zontte Prod Corp (1) 24 8 714 744 — 14 Slrldend re tee aa glren to the a bore table are the annual eaeh garment* baud on the lateat Quarter]* or half-rearlr declaration* xkx-dlrlfiend. iLee* than 100 (hitrea tPartlr extra tPlu* 4* In mock. tPlu* I* In etock a Paid laet rear—no regular rat* b Parable :n etock. * Parable In eaeh or etock. f Plue t% In etock h Plue 3* In etock. 1 Plue JOe In eneelal preferred etock. k Flee I* In etock. m Paid thle rear—no regular rata a Plue I* la etock. d Plue 214* In etaek. KEEPS U. S. CITIZENSHIP BY 1.45-MILE MARGIN Ship's Log Shows Man Returned Just Before Year's Leave Expired. NEW YORK. — Federal Judge Gal ston has decided that Ernest Jan Zilver, formerly of Great Kills, N. Y., but now in Holland, won his right to American citizenship by exactly 1.45 miles. The Labor Department sought to re voke Zilver's citizenship because he had failed to reveal he was absent from the United States for one year between the date on which he was granted citizen ship and the date on which the papers were issued. Zilver, however, argued that before the year expired he was within the 3 mile limit, the territorial limit of the United States. The log of the ship showed that at the hour the 365th day expired, the ship was 1.45 miles inside the 3-mile line. PERMIT SYSTEM IN TRUCK RATE ! CONTROL AROUSES OPPOSITION BY GEORGE E. DOYING. I The National Association of Railroad and Utilities Commissioners does not favor the proposal submitted by Sen ator Couzens of Michigan for a mere j “permit" system of control of inter - j state trucks operated for hire, with no showing of convenience and necessity and no regulation of rates. The association, through its Legis lative Committee and a special Com mittee on Motor Vehicle Legislation, i will appear before the Senate Commit tee on Interstate Commerce when hear ings are begun on February 1 on Sen , ator Couzens’ bill and will urge that : the Interstate trucks should be regu I lated in substantially the same man ner as may be applied to interstate busses. ' shall receive permits from the Inter state Commerce Commission "if It ap pears that the applicant is fit and able properly to perform the service pro posed.” No provision is made for regu lation of rates of freight carriers. The Michigan law undertaking to regulate private contract motor car riers has reached the Supreme Court of the United States in an appeal from a decision of a Federal District Court sustaining the validity'.of the statute. The lower court held in an action by Ogden <fe Moffett et al, against the Michigan Public Utilities Commission that the law does not undertake to regulate the business of private motor carriers, but only their ; operations upon the highways. The statute Is being assailed on the ground that It Is discriminatory in exempting certain vehicles and that the regula- , tlons Imposed upon contract carriers are not appropriate to a business not i affected with a public interest. (Copyrlsht, 1933.) Favors Rate Regulation. This course was decided upon at a meeting of the association's commit tees here this week with John E. Ben ton of Washington, general solicitor of the organization. Andrew R. McDon ald of the Wisconsin Public Service Commission, is chairman of the Legis lative Committee and J. Paul Kuhn of the Illinois Commerce Commission is | chairman of the Motor Vehicle Com ! mittee. These committees were authorized to j represent the association in a resolu I tion adopted at the annual convention in Richmond, Va„ last October. It was resolved also that the association “fa 1 vors the enactment of Federal legisla : tion to provide for the regulation of the rates and service of mqior carriers en gaged in interstate trfnsportation for I hire upon the highways" This has j bfen understood to include regulation i of contract as well as common carriers The Couzens bill provides for the regulation of interstate busses in sub stantially the same manner as has heretofore been endorsed by the State commissioners, the bus operators and other interests. The last bill on this subject, commonly known as the Park er bill, was passed by the House in the last Congress, but failed to re ceive approval in the Senate. With the bus features of the present bill the State commissioners may be said to agree, and they would like to see the bill enacted into law even if there is no legislation covering the truck operators. But if trucks are to be regulated, the commissioners be lieve, they should be subject to the same degree of control, including the requirement to secure certificates of convenience and necessity and regu lation of their rates and service. Permit Clause. Senator Couzens, however, provides in his bill that the freight carriers INVESTMENT TRUSTS NEW YORK. January 30 OP).—Over the-counter market: Bid Asked. A E C Tr 8hrs D. 2Va 3 A B C Tr Shrs E. 3*4 4*i Am Sc Gen Sec A. 3'a . Am Sc Oen Sec B. 5c Am Sc Gen Sec $3 pf. 29 . Am Br & Con fl'fc pf. 4 9 Am Comp Tr Shr*... 3 3 Vi Am Fdrs 6r'c pf. 8 12 Am Fdrs 7% pf. 8Vi 1312 Am Fdrs cv pf ctfs. 13 23 Am Ins Stocks . 1*4 2‘/a Assoc Stand Oil . 31 a 3V§ Atl See. pf. 16 20 Atl Sec w ar .. 1 Atl Sc Pac Int units. 15v4 . Atl & Pac com ww. Vi V4 Atl Sc Pac pf war. 15 . .... Lankerr Inv. l."» 19 Bansicilla Corp . 31 a 4 */a Basic Industry . 2Va . British Type Inv. 1** l'a Central Nat Coip A. 12 15 Century Tr Shrs. 16H 17*4 Central Nat Corp B . 2 5 Chain Sc Gen Equities. ’i lVi Chartered Invest . IV4 3 Chartered Inv pf.45 50 Chelsea Exch A. */4 1 Chelsea Exch B . Cumulative Tr Sh. 3 Vi 3*a Corporate Trust . 2.1o . .. Corporate Trust A A. 1 85 2.10 Corporate Trust Accum Ser- 1 85 2 10 Crum Sc Foster . 15 18 Crum & Fost Bfr Pf. *2 ?! Crum Sc Fost Ins...... 15 18 Crum A Fost Ins 7s pf. 70 74 Depos Bk Shrs N Y. 3 . ... Depos Bk Sh N Y A. 25i 3L. Depos Ins Shrs A. 3 3Va Diversified Tr A. 6 2 . Diversified Tr B. 6 Diversified Tr C. 2 50 2 80 Diversified Tr D. 4 4 4*4 Equity Invest stpd . • ■••• Equity Trust Shrs . 2 35 2 70 Five-Year Fixed Tr. 3 Vi . Fixed Trust Sh A. 6Va . Fixed Trust Sh B. 5Vi . •••• Fund Tr Shrs A. 3*4 3V< Fund Tr Shr? B. 3Va 4 Granger Trade . < . Gude Wipmill Trad. 25 Incorp Investors . 16*i 17'a Incorp Invest Equit. l’a 2 j Independ Tr Shrs. 2 10 2.30 Int Sec Corp Am A. /* . Int Sec Corp Am B. 5c . Int Sec Am 6'«* pf. 8 13 Int Sec Am 6*ir/f pf. 9 14 Inv Tr N Y Coll A . 37. 4'a Invest Trustee Sh. 35a Leaders of Indust A. 33i Leaders of Indust B. 2'a 27^ Leaders of Indust C. 2** 2V Low-Priced Shrs. 3 Vi 3V» Major Corp Shrs. 2^i 23/4 Mass Invest. Tr. 16_ l<*a Mutual Inv Tr A. 37a 47i Mutual Manage . 234 Nation-Wide Sec . 3 3S Natl Indust Shrs. 2 40 . Natl Tr Shrs. 5la 6 N Y Bk Tr Shrs. 3*4 4 Nor Am Tr Shares. 2 30 Nor Am Tr Sh 1955. 2.05 2 30 Nor Am Tr Sh 1956. 2 05 2.30 Northern Secur . 50 55 Oil Shares units . 5 Vi SVa Old Col Inv Tr. 1 3 Old Col Tr Assoc. 15 16 Vi Petrol Trad A. 4 8 Public Serv Tr. 3*a 37i Repres Tr Shrs. . 7.12 7.62 Second Int Sec A. Vi . Second Int Sec B. 5c . Sec Int Sec 6r«- 1st pf. 7 12 Secur Corp Gen $6 pf. 85 Selected Am Sh. 2.20 2.60 Selected Cumulative Sh. 55s 6*« Selected Income Sh. 3 3 Vi Selected Manage Trust. 3 40 3.80 Shawmut Bank . 1 3 Spencer Trask Fund . 12 12*4 Stand All Am Tr. 4 41;2 Stand Am Tr Shrs. 3.04 3 54 Stand Collat Trust. 4Ms 47g State Street Invest. 4f2*i 44Vi Super of Am Tr A. 3Vi 3Ma Super of Am Tr B. 3 3H Super of Am Tr C. 5li 55» Super of Am Tr D. 434 5Vi Trust Shrs of Am. 25* 3Mi Trustee Stand Inv C. 2.00 2.20 Trustee Stand Inv D. 1.95 2.15 Trustee St Oil A. 3’s . Trustee St Oil Shrs B. 3> 4 35b Trusteed NYC Bank. 4’« 45s Trusteed Am Bk Sh. 3'a . Tr Am Bl; A. 2*4 31* Twentieth Cent Fixed Tr. 25« 3>a Two-Year Trust 8h. 87* 103a United Fixed Shrs. 2‘i 3 Unit Fdrs l-70th Com. 2c 4c United Ins Shrs. fi'i . United Bank Tr. 6‘i . U S Sc Brit Int Ltd A. Vi . U 8 Sc Brit Int S3 pf. 4 9 U 8 Elec Lt & Pow A. 17 *,4 19Vi U S Elec Lt & Pow B. 3Vi 37a Universal Tr Sh. 2 Vi 27a I QUARTERLY DIVIDEND. The directors of Follansbee Brothers Co. have declared the regular quarterly cash dividend of V/2 per cent on the 6 per cent cumulative preferred stock, payable March 15 to stockholders of record February 29, 1932. 1 Monty on Hand to Loan on First Deed of Trust 6% Interest Seasonable Commission and Prompt Replies to Applications JAMES F. SHEA 643 Indiana Ave. N.W. Trust Dept. First Mortgage Investments Denominations *250 and an. A tare 6% return with absolute safety for rour savins*. Thos. E. Jarrell Co. REALTORS 721 10th 8t. N.W. NAtlonal 078S LOW PRICED STOCKS Every invertor should benefit by our latest compilation of 23 stocks which appear to have unusual long (arm / profit possibilities. Thsss 25 rspcawnt a carafe! sifting at tbs 095 stocks recently salting for #12 par fen or Isa*. Racant average price was #10 compared with #M in 1929. Tbe 25 earned a yearly average of #3 per share in the five years prior to 1931. Bach company is#in sound financial condition. Besides this list, you will receive V25 Probable Leaders of the Next Bull Market”, "Sound In veetment Rules” and our next eight iseuee—#2 value for #1. Return this "ad” with your addraas and #1 Soday. '•Financial world Jmm tss’s Jtesestswatswul Jagkuejfbifr U-FX Park Place New Ysrk National Metropolitan Bank OLDEST NATIONAL BANK IN THE DISTRICT OF COLUMBIA Capital, Surplus & Undivided Profits Over $2,300,000.00 15th Street, OJ>posite U. S. Treasury Traditionally Good Service Under All Conditions bank has never wavefed in its duty and fidelity to cus ^ tomers, ever holding fast to those high concepts^of Service and Safety that have been traditional at The Metropolitan, throughout the One Hundred and Eighteen years of its exis tence. flLarge or small, your business will be efficiently handled at this veteran bank, and your interests zealously guarded. We’re at your service. Interest Paid on Savings The First National Bank in the United States to be granted Fiduciary Powers under The Federal Reserve Act. OPEN UNTIL 5:30 P.M. Monday, Feby. 1st, for Payday Depositors* Convenience SAFE FIRST MORTGAGES YOU CAN ENJOY THE FRUITS OF DEFINITE Over a Third INCOME of a Century ^ an investment in our Without a \ FIRST MORTGAGES Loss you will be in a position to enjoy the good things which definite income provides. In them you have security for the principal and assurance for the payment of definite interest throughout the period for which the loan is made. May be purchased in amounts from $250 up. B. F. SAUL co. National 2100 925 15th St. N.W. THERE IS NO SUBSTITUTE FOR SAFETY ITALIANS INCREASE BUSINESS IN ASIA Greater Advance* Are Also Ex pected in Trade With South African Countries. / -- ttaly is making progress in Asiatic markets, where her products in the past have been hardly known, and even greater advances are expected in the South African countries, according to the Genoa correspondent of the Ameri can Chemical Society, who attributes "-r£lck'up improved organization. 'The state guaranty on export credits is especially designed to aid trade with Russia, as there are practically no risks in sales to any other country,” the correspondent says. ‘‘The preliminary survey of markets, and their continual study, formerly fol lowed only by single, private agencies without any possibility of control, is now facilitated by the activities of the Italo-Qriental Chamber of Com merce, which gathers and co-ordinates the news from all Oriental countries and assists Italian exporters In all their dealings, ‘‘Such information as the types of merchandise wanted, the best methods •i,vPac!L,ng’ i^c'' 8iven to producers, either directly or by means of weekly bulletins) so that they may follow the different markets and satisfy the vari ous demands "The drop In the value of the Eng lish pound has caused unforeseen . changes In the Italian chemical in dustry, in spite of the efforts of the government to prevent fluctuations in the value of the lira. The industry has suffered great losses in all English credits, besides a lowering of all de posits m English money. "It has had to withstand the large import taxes In England and other countries, thus greatly diminishing ex ports, and also Increased foreign com petition. This has necessitated an in crease of 15 per cent in import duties to induce greater consumption of do mestic products. "Certain products, palm and coco nut oils, copper and its alloys, am bergris, calcium pyrolignate, mineral lubricating oils, benzene, toluol and xylol, calcined or basic magnesia, vegetable and animal oils, metal ores, calcareous rock, chemical fertilizers, essential oils, etc., are exempt from this import tax.” Woman to See Executions. Mrs. Poster Welch, England’s first woman sheriff, plans to attend all ex ecutions. General Insurance Flr*’ Automobile. Liability, Bondi, Windstorm. Accident, Health, Burglary, Hold-up, Workmen's Compensation Forgery Thos. E. Jarrell Co. 721 10th St. N.VV. NAtional 0765 FIRST MORTGAGE SECURITIES —Safe—Sound. Convenient Denominations. Real Estate Mortgage and Guaranty Corp. 1610 K St. Nat. 1403