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STAGE ADVANCE Rise of 1 to 21/2 Points Re corded by Leading Carriers. U. S. issues Ease. Bond Averages 20 10 10 10 Ralls Indus Util For n Net change. 4-.2 +.3 —.1 +.1 Today, noon. 89 0 102.7 100.7 70.5 Prev. dav 88.8 102.4 100.8 70.4 Month ago 85.3 101.8 99.6 69.4 Year ago 87.0 95.8 86.2 70.0 1935-36 high 88.8 102.8 100.8 70.4 1935-36 low 76.4 92.2 84.5 65.5 1934 high.. 89.4 92.9 88.9 70.0 1934 low_ 74.5 73.7 68.2 60.2 1932 low.... 45.8 40.0 64.6 42.2 1928 high_101.1 98.9 102.9 100.5 10 Low-Yield Bonds. Noon_110.4 Prev. day. 110.4 Month ago 109.5 Year ago. 108.4 1935 high. 110.7 1935 low.. 107.9 1934 high 108.3 1934 low.. 99.1 1928 high. 104.4 1932 low.. 86.8 (Comoiled by the Associated Press.* By the Associated Press. NEW YORK, January 10.—A brisk demand for railroad liens lifted prices sharply in that section of the bond market today. Gains ranged from 1 to 2'2 points In obligations of Alleghany Corp., Baltimore & Ohio. Erie. Nickel Plate, Southern Pacific and Southern Rail way. Utilities were backward in spots, While in industrials the general tend ency was toward higher levels. U. S. Governments slipped back a bit following the action of the House In adopting the bonus bill sponsored "by soldier groups. Some early ad vances were canceled, leaving the list 2-32ds of a point higher to 5-32ds lower in the late trading. GREAT NORTHERN NET CLIMBS TO $5,517,622 By the Associated Press. ST. PAUL, January 10.—The Great Northern Railway today reported net operating income for the first 11 months of 1935 at $5,517,662. This compares with a deficit of $2,458,701 lor the corresponding period of 1934. AIR REDUCTION BUYS SHARES OF SUBSIDIARY By the Associated Press. NEW YORK, January 10.—Air Re duction Co. has acquired the remain ing outstanding capital stock of Pure Carbonic Corp., thus giving it 100 per cent control of the subsidiary. Air Reduction previously held 83 per cent of the stock. BITUMINOUS OUTPUT SHOWS LARGE INCREASE By the Associated Press. The National Coal Association es timates domestic bituminous coal pro duction for the week ended January 4 at approximately 8,250,000 net tons, which compares with the Bureau of Mines estimate of 6,730,000 tons for the previous week and 7,372,000 ton in the like 1935 period. -• PLANT TO BE REOPENED. CULPEPER, Va.. January 10 (JP).— Officials of the B-K Garment Co., here to reopen the company’s pants factory after a long period of idle ness, said they expected machines to start by January 15. The plant will be under the direction of M. Schaefer of Baltimore. -m - ■ i PROMOTIONS LISTED. NEW YORK, January 10 (TP).— Thomas J. Watson, president of Inter national Business Machines Corp., has made public a list of promotions in the company which include the transfer of E. F. Hartley from man ager of the business service depart ment to the post of executive sec retary. BANK EARNINGS DROP. CHICAGO. January 10 UP).—Net earnings of the Federal Reserve Bank of Chicago in 1935, were $771,219, .the smallest since 1931, compared ■with $1,404,491 in 1934, the bank reported today. SHORT-TERM SECURITIES. (Reported by Chas. D. Barney & Co.) Biel Offer. Amer. Beet Sugar 6s 1040_102% 103 Am. Tel. * Tel. 5%s 1943— 11.3% 113% Atlantic Refining 5s 1937 _ 105% 106% California Packing 5s 1940. 104% 105 Ches. * Ohio Ry 5s 103*1._ ill1. 1117. Chi. Gas Lt. & Coke 5s 1037 105% 105% Chi Northwest. 0%s 1038-- 50 52 Consumers Gas 5s 1036_102% 105 Delaware Hudson 5%s 1037 99% 100 Edison Ei. Ilium. 4s 1930- 107% - Gen. Pub. Service 5%s 1030 103% - Gotham Silk Hos. Hs 1036.. 100 100% Gr?nd Tr Canada 6s 193*1. 103% 103% Great Northern Ry. 7s 1936 102% 102% Illinois Central 6%s 1036__ 102% 102% Inti. Tel. & Tel. 4%s 1030. 88 80 Lake Erie A- West 5s 1037. 102 102% Lehigh Valley Coal 6s 1038. 98% 100 Xouisv'lle A: Nash. 5s 1037. 104% 106 Micnigan Central 4s 1940.. 102% - N. Y.. Chi & St. L. 4s 1937 102 102>/« New York Do-k 5s 1038- 58% 60 Ohio River R R. 5s 1036... 101% - Penn-Dixie Cement 6s 1041 02% 04 Penna R. R Co «%s 1038. 100% 100% Rep. Iron A- Steel 5s 1040_106% 106% Rio Or, Western 4s 1939_ 70% 81 Vanadium Corn 5s 1941_ 80% 00 Wabash Rwy. Co. 5s 1939— 99% 00% Warner B~os. 6s 1939- 87% 88 West. N. Y. A: Pa. 5s 1937. 104 104% U..S. TREASURY NOTES. * (Retorted by Chas D Barney Ar Co ) Rate—Maturity Bid. Offer. 5%s Anr. 15. '36.. 101 5-32 101 7-32 l%s June 15. ’36.. 100 24-32 100 26-32 8%s Aug. 1. '36__ 101 30-32 102 l%s Sept 15, '36.. 101 5-32 101 7-32 2%s Dec. 15. '36.. 102 21-32 102 23-32 ffs Feb. 15, '37.. 103 8-32 103 10-32 8s Apr. 15. '37_ 103 21-32 103 23-32 3%s Sept. 15. '37_ 105 4-32 105 6-32 2%S Feb. 1. '38_ 104 23-32 104 25-32 fls Mar. 15. '38_ 106 19-32 106 21-32 2%S June 15. '38__ 105 16-32 105 18-32 C%S Sept. 15. M8.. 11*4 24-32 104 26-32 11js Mar. 15. '39.. 101 12-32 101 14-32 fi%* June 15. ’39... 103 11-32 103 13-32 ?%s Dec. 15 \3ft— 100 23-32 10(f25-32 *,s Mar 15. 40., 101 11-32 101 13-32 i« js June 15. *40_ion 28-32 100 30-32 VaS Dec. 15. '40— 100 22-32 100 24-32 CHICAGO PRODUCE. CHICAGO. January 10 OF.—Poultry. Eve. 17 trucks; hens weak, balance steady; hens less than 4% pounds. 21: 4% pounds up 20: Leghorn hens. 17: Plymouth and White Rock Springs. 21%: colored. 21: Leghorn chickens 17: roosters. 16: turkeys, ]8*22; heavy white and colored ducks. 23; email white ducks. 19: small colored 18: Northern geese 15: Southern, 14; capons. 6-7 pounds. 25. . Dressed turkeys steady, prices unchanged. Butter. 6,390: steady: creamery-specials (93 score) 34a34%: extras (92*. 33%: > x tra firsts (90-911. 32%a33; firsts (88-89'. 81%a32: seconds (86-87). 31: standara* (90 centralized cariois). .32%. Eggs. 5,549. eteady: extra firsts. 24: fresh graded firsts. 23%: current receipts. 22a22%: refrigera tor extras. 19%: standards. 19: first*, 18%. MONEY MARKET. NEW YORK. January 10 OF.—Call Rtoney steady; % per cent all day: prime commercial paper. % per cent: time loans eteady: 60 days-6 months. 1 per cent of fered. Bankers’ acceptances unchanged. Rediscount rate. New York Reserve Bank, per cent. __ *> BONDS ON N. Y; STOCK EXCHANGE By private wire direct to The Star. TREASURY. Hiflv. tow- 2:55. 24s 1945-47_101 10 101 10 10110 24s 1986-60_ 1009 1008 1008 Ss 1946-48_ 1036 1033 1033 38 1951-65 _ 1034 103 103 3 4s 1946-49.—— 104 2 1041 104 2 3 4 s 1949-62__ 104 1 104 104 348 1944-46 ... 10524 105 22 105 22 34s 1940-43.lune 10731 107 31 10731 34# 1941-43 Mar 10810 10810 10810 348 1946 66 .... 10911 10911 10911 48 1944-54 . 1116 111 6 111 44S-34S 1943-45 1062 1062 1062 448 1947-52 ... 1159 1159 1159 FEDERAL FARM MORTGAGE. | 24s 1942-47_ 10019 10019 10019 38 1947 _ 102 4 1024 1024 3s 1949 _10116 10114 10114 34s 1964_ 10226 102 25 10225 HOME OWNERS' LOAN 248 1939-49 _ 9931*9927 9929 *8 1952. 10110 1016 1017 FOREIGN BONOS High Low 3:55. Abltlbl PaftPw 6s 'bl 43Vi 43 434 Agr Mtg BkCol 6s ’47 Febr cou oa 19 1" l9 Agr Mtg Col Bk Ss '41 April cou cn—. 19 184 19 Akerebus 6s 63 - 984 984 98^4 Antloaula 7e '45 A- 94 9 94 Antloaula 7s 45 C- 94 84 94 Antloaula 7e'45 D— 94 84 9 » Argentine 5 4s'62— 954 9o4 95 * Argentine 6s '68 B 984 984 . 8 » Argentine Ss 69 June 984 984 984 Argentine 6s 59 Oct 99 984 99 Argentine 6s '60 May 984 984 984 Argentine 6s 60 Sept 984 984 984 Argentine 6s *60 Oct 984 984 984 Argentine 6s 61 May 984 98*. 98*. Australia 4 4s'56.... 994 994 994 Australia Rs '55_ 105*. 1054 105*. Australis 5s '57 106 1054 1054 Austrian 7s 57-- 934 934 934 Belgium 6s '65 .... 1074 1074 1074 Bergen City 5s'60_ 1004 1004 1004 Berlin 6s '58 _ 284 284 284 Bogota 8s 45- 14 14 14 Bol'vla 79'68_____ 9 84 9 Bolivia 7s 69- 9 84 9 Bolivia 8s 47__ 134 11 134 Brazil 6 4s 26-’57_ 244 244 244 Brazil 64»‘27-'57- 24 24 24 Brazil 7s’52_ 244 244 244 Braz-1 8 s <1_ 29 284 29 Budapest 6s 62 unmat coupon o*.i._ 364 364 364 Buenos A C 6s’60 Oct 924 92*. 924 Buenos AC 64s 65 . 98 974 974 Biienos A 6s '61 st Pv 674 57 574 BuenosA04s’61stPv. 684 66 584 Bulgaria 7s '67 July coupon off_ 144 13*4 134 Calrias 74s 46 _ 11 11 11 Canada 24s'45_ 97 97 97 i'anaHa 4a fiO _ 106 1 1 Canada 4 %s '26_100% 100% 100% Canada fis'62 ... 112% 112% 112% Cauca Valley 7%s'46 10% 10% 10% Chile fis 60 _ 15% 15% 16% Chile 6s'61 Jan__ 15V* 15 15% Chile 6s 61 Sept_ 15% 15 15% Chile 6s 63 _ 15% 15 15% Chile 7s'42 _ 15% 15% 15% Chile Mte Bk 6s'61_ 13% 12% 12% Chile Mte Bk 6s'62 - 13V* 13 13V, Chile Mte Bk 6%s'57. 13 12% 13 Chile Mte Bk 6%s'61. 13% 13% . 13% Chilean Mun L 7»'60 12% 12 12 Colombia 6s'61 Jan.. 24 22% 24 Colombl 6s 61 Oct.. 24 22% 24 Col Mte Bk 6%s'47.. 17% 17% 17% Col Mtg Bk 7s 47_ 18 17% 18 Copenhagen 4%s'53. 90% 90% 90% Copenhagen 6s '62 . 95V* 95% 95V* Copenhagen T 6s '64. 97% 97V* 97% Cordoba 7s 67 stpd._ 52% 52% 52% Coma Rica 7s 51 A 4Jav coupon on 24% 24% 24% Cuba6%s 45_... 45 41% 44 Cuba 5%s '53 _ 100 100 100 Cund'amarca 6%s'59 11% 10% 11% [ Czechaslovakla 8s 52 100% 100% lOOVj Denmark 4%s 62 95% 95% 95"; Denmark 6s 42 . 105% 105% 105% Dominic 1st 6%s '40 63% 63 63V* Dominic 1st 6 V>s 42. 68 68 68 Elec Pw Ger 6%s 50. 32% 32% 32% Estonia 7s 67 __ 95 95 95 French Gov 7s'49 .. 178 178 178 French Gov 7%s '41 173% 173 173 Ger C Bk A6s'60 July 33% 33% 33% Ger C Bk A 6s 60 Oct 33 33 33 Ger Gov 6%s 65 stpd. 28% 28 28% Ger Rep 7s'49 stpd . 37% 37% 37% Grt Br A Ir 6%s '37._ 106% 106% 106% Grt C El Jap 7s '44_ 95 95 95 Haiti 6s 62 _ 9A% 93% 93% Hansa SS 6s'39Ap c 0. 31 31 31 Hungary 7%s 44 Febr coupon on39% 39% 3914 Italy 7s'61 _ 61% 60% 61 Ital P U Crd 7s'62_ 52% 52% 52% Japan 6 %1 65 _ 88% 88% 88% Japan 6Hs '54 .. 100 99V. 99% Jugos Mtg Bk 7a ’57 unmat coupon .. 25 25 25 KreuAToll 5s'59A cfs 33 33 33 Lombard El 7s'62— 45% 45% 45% Medellin 6%s'54 ... 9% 9 9% Met Water 6%s 60_101V. 101% 101% Mex 4s '10-’45 asst .. 6 5% 6 Mex 4s'10-‘45asst sm 5% 5% 5% Mex 4s '54 asst __ 6% 6% 6% Mex 6s ’33 asst sm_ 7% 7% 7% Milan 6%a'62 52% 52% 52% Minas Gers «%s '59 Sent coupon off__ 16 16 16 Montevideo 6s 69__ 44% 44% 44V* New So Wales 5s '67. 102% 102% 102% NordKy6%s'60 .. 153 153 153 Nor Ger Lloyd 6s '47- 88V4 88% 88% Norway 6s '63__ 102% 102% 102% Norway 6%s '65— 103V* 102% 102% Norway fis '42-——— 107 106% 106% Norway 6s 44.—— 106% 106% 106% Norway 6s'63_104% 104% 104% Norw Hy El '67. 101 101 101 Oriental Dev 6a '53_: 85 84% 84% Oslo 6a 65_102% 102% 102% Panama 6s 63- 71% 71% 71% ranamd oi do dou Peru 6a 60_..... 14 13% 14 Peru 6s 61 _ 14 13% 14 Poland 6s '40_ 79 79 79 Poland »s'60_ 95% 94% 94% Prussia 6s 62___ 28% 28% 28% Rio de Jan 6%s '61 Aug couoon off ._ 15% 15% 15% Rio Gr do Sul 6s 68 June coupon off .. 15% 14% 15% Rio Gr do Sul 7s 17 June coupon off ... 17 17 17 Rio Gr do Sul 8s '41 April coupon off_ 18% 18% 18% Rome 6%a'62___ 55 54% 54% Rumania 7s *69 Aug coupon off_ 25 24% 24% Santa F Arg 7a’62stp. 60% 60 60 Sao Paulo C 6%s *67 May coupon off ... 16% 16% 15% Sao Paulo St 6s '61 July coupon off .__ 15 14% 14% Sao Paulo St 7s 40._ 84% 84% 84% Sao Paulo St 8s '36 July coupon off__ 24 24 24 Sao Paulo St 8s 60 July coupon off -. 18% 17% 18 Saxon Pb W 6%s'51. 32 32 32 Saxon Pb W 7s 45 - 32% 32% 32% Serbs Is 62unmco . 24% 24% 24% Sbin'su El P 6%s'52. 84% 84'% 84% Silesia Prov 7s 68 72 72 72 Soissons 6s '36 ...... 164V* 164% 164V* Sydney 6%s'55 _ 103 102% 102% Taiwan Elec 5%s‘71. 81% 81% 81% Toho El Pw 7s ‘65_ 94% 94% 94% 1 ok to o % s 61 _81 81 81 Tokto El Lit 6s ‘53.... 81% 81% 81% Tollma 7a 47 _10% 10 10% UJigawa E P7a‘45__. 96 96 96 Uruguay 6s '60_... 41% 40% 40% Uruguay 6a'64__41% 41% 41 Uruguay 8a 46-- 42 42 42 Warsaw 7a 61 . 71% 71 71% Westphal El P 6s ‘61. 32% 32% 32% Yokohama Is '61__ 85% 85% 85% OOMESTIC BONDS. Adams Exp 4a ‘47 - 99 97% 98% Alb&Sus 3%s 46 gtd. 101% 101% 101% Alleg Coro 6s 44- 93 91% 92% Alleg Coro 6a 49- 87% 86 87% Alias Corn 6a 60_66'% 55% 56% Alleg Corn 6s 60 stn 41 39% 40 Alleg A Wastn 4a '91 91% 91% 91% Allis Chaim 4a 46 122 121% 122 Am * For Pw 6s 3030 71% 70% 71 Am Ice ce os 63 ... 73 71% 73 Am I OCh 6%s 49- 115 114% 115 Am Inti 6%s 49 .. 103% 103% 103% Am Roll Mill 4 % a '49 129% 127% 128% Am T * T gold 48 ‘36 100% 100% 100% Am T A T ♦ %a 39 115% 114’% 115% Am T * 1 cl tr 6s 46 109% 109% 109% Am TAT deb 6s 60 113% 113 113 Am TAT deb 6s 66 113% 113 113% Am TAT 6%s 43 113% 113% 113% Am Type F 6a 40 cfa. 93% 93 93% Am Wat Wks ts 44 . 116 114 114% Am Wat Wks 6a‘76.. 102% 102% 102% Am Writ Pap Is 47 ._ 48 46% 47% Am Writ P 6a ‘67 cfa. 48 47% 47% Anaconda db 4%a'60. 102 101% 101% Anglo Ch Mitt 7a '46-. 27% 27% 27% % High. Low. a: BO. Ark A MB ATE*’64. 96 96 96 Armour A Co 4%a'89 104% 104 104 Arm rlOtllllt 41 Si- 96% 96% 96% Armstrong C'k 4s'60. 106% 106% 106% A TA8 F# ad 4s'9f> -t 106 105% 106 A TAB Fs m 4S ‘#6_111 110% 110% 4 TAS Fe 4%a 4B_111 110% 110% Atl A Ch A L 6s 44 ... 106% 106 106% Atl Coast L 1st 4s '62 99% 98% 99% Atl Coast Lclt 4s '62. 85% 85 85% Atl C L on 4%s 64_ 88 87% 88 Atl Coast L. 6s'45_ 98% 98 98% AtlantlcAD lat 4S '48 46 45% 46 AtlantlcAD 2d 4s '48 37 36% 37 AtiO&Wl 6s'69 ... 64 63 64 Atl Refln deb &e 27 106% 106% 106% Auburn Auto 4%s’39 103% 101% 103% Aust A Nor 6s'41_101 101 101 B A O 1st 4S 48_WH% 103% 103% b A O 4 %s 60 _ 65% 64% 65% B A O 1st 6s 48 _ 109 108% 108% B A O ref 6s 95 A_78% 77% 78% B A O 6s 96 F _ 76% 75% 76% B A O ref 6s 2000 D_ 77 75% 77 H A O ref 6s '96 C 89 87% 89 BAO PLEAW V 4s'41 102 101% 102 B A O Swn 6s '60 ... 102 101% 102 BnnkAAroos «s 61. 106% 106% 106% BangAAroos cv «a'61 111 110% 110% Beech Crk «s'36 gtd. 101% 101% 101% Ball T of Pa 6s 48 B 119% 119% 119% Beth Steel 4%s 60 af 105% 105% 105% Bos A Me 4%s '81 J._ 77 77 77 Bos A Me 5s’55..__ 81% 81% 81% Bos A Me 6s 67 _ 80% 80% 80% Bos NlALtl ’65.__ 26 25 26 Bot Con M 6%s 84... 23% 22% 23 Bot Con M 6%s'34 ct. 23 21% 23 Bklyn Cy RR 6s 41.. 89 89 89 Bklyn lSdls 6s '49 A.. 108% 108 108 Bklyn Bdis 5s '62 E-_ 107 107 107 Bklyn M r 6s 49 A_ 105 105 105 BkJvn M T 6s 68 A . 107% 107% 107% Bklyn Un Gas 5s 60.. 105% 105% 105% Bklyn Un G 6s 67 B 109% 109% 109V, Bufl HAP con 4 %s'67 70 69 70 Butt R A P 6s 37 104% 104% 104% Bush 1 ertn cn 6s 66. 50 50 50 Bush 7 Bldg 6s 6<i .. 59 59 59 Bv-Prod Ck 5 %s 45.. 98V, 9814 98% Calll Packing 6s 40 _. 104% 104% 104% CamasSls 42 cits_ 10 10 10 Canada So 5s 62 A .. 111% 111% lily! Can dian Nt H4%S'61 111 110% 110% Can'dlan Nt H4%s'55 111 111 111 Can'dlan N 6s'69July 114 114 114 Can'dlan N db6%s 46 122% 122% 122% Can’dlan re db4sperp 88% 87% 88 Can'dlan Po 4%s 46 .. 104% 103% 103% Can'dlan Pc 4 %s 60_. 101% 101 101% Can'd an Pc 6s 64 105% 105% 105% Carth & Ad 4s 81 gtd 76 76 76 Cent f ? Ua 6a 69 C . 17 17 17 Cent 111 LA G 5s 61.. 100% 100% 100% Cent N Fng 4a 61_ 63 68% 63 Cent of N J 4S'87_ 88% 88% 88% Cent of N J gen 5s'87 100% 100% 100% Cent of N Jgn5a'87rg 95 95 95 Cent Pac 1st rt 4s 49 104% 104V4 104% Cent Pac 6s 60 . 92 91% 92 Cent RR B Ga os 37.. 68 68 68 Cert’d deb 6%s 48 97% 97% 97% Champ PAF4%s'50.. 102% 102% 102% Chcsap C cv cl 08 44. 114 113V, 113% bnesap Corp 6B 47_122% 121% 121% C A O Ken 4 %s 92_119>« 119 119V. C*U4t»s #3A_ 111% 111% 111% C&U4%s 95 B-111% 111% 111% C & O con 6a 39 -111% 111% 111!* Chi A All ret 3s 49 45 43% 45 Chi BAG gen 4s 6*.. 108'1 108% 108% On B & Q ret 5s 71 . 114% 114% 114% dll B&W I dtv 3%s’49 105% 105% 105% Chi A E III 6s’51 18% 17% 18% Chi & E 111 6s 51 ctfa 16% 15% 16V, Chi & E 111 con 6s'34. 82 82 82 Chi li L & C 5s 37_105% 105', 105% Chi un VV 4S 69 .... 30 29 30 Chi Ind & L 4s’47_ 35 34 35 Chi 1 A L, gen 5s 66.. 17% 17 17% Chi I A L ret 6s 47_ 35 35 35 Chi 1 A t. gen 6c 66.. 17% 17V, 17% CM&StP 4s *9 ... 47% 47 47% CM&StP gn 4% 89 C. 50% 50% 50% CMAStP 6s 76 21% 21% 21% CMAStPAP adJ5s2000 8% 8 8%; Chi A NW gn 3%s 87 43 42 43 Chi A NW gn 4s 87 46% 44% 46 Chi & NYY gn 4s’87 st 46% 44V. 46% Chi A N W 4 %s 2037 22% 21 22% ; Chi A N W 4%s2037C- 22% 21% 22%' Ch • A N W 4%s 49_ J3% 13 13% Chi & NW 4%s 87_ 45% 45 45% Chi A N W gn 6s 87 . 49 46% 48% Chi & NW rf 5s 2037. 22% 22V. 22% CANW Nr W 6%s 36 51% 50 51% Chi R 1AP rf 4s 34 . 17% 17% 17% Chi K i&P rf 4s'34 cf. 17 16% 17 Chi H 1AP gn 4s 88.. 30% 38 39% C R 1AP 4s 18 reg_ 36 36 36 Chi R l&P 4 %s 62 ._ 18% 18% 18% C K l&P 4%s '52 nl.. 17% 17 17V, Chi H l&P 4 %s 60 . 9% 8% 9% Chi St TAN Me 4s '51 85% 85% 85% Chi T H&a 1st 6s 60. 80% 79V* 80% Chi T HAS lnc 6c 60. 66% 65 66% Chi Un Sta 4s 63 _109% 109 109% Chi UnSta 6s '63 B... 107% 107% 107% Chi & W 1 con 4s 62. 100% 100% 100'.* Chi & W 1 6%s 62 107% 107% 107% C&W 1 1st rf6%s'62C 107V* 107% 107% Childs & Co 6s 43 .. 80% 78% 79% Chile Cop deb 5s 67.. 103 102% 103 Cin Un i'er .,s -u20 B llo 109% 110 CcCASlUStU dv«s'9U 97 97 97 J CCC&StLrt «%C77J9 81% 80% 81% CCCAStU rf 6s 63 D 91 90% 91 CCC&StLtC W&M4s'91 94% 94% 91% Clev Cliffs Ir 4%s 50. 102% 102% 102% Clev Un Ter 4%a 7.’. 98V* 98 98% Clev Un Ter 6s 73 ri 103 102', 103 Clev Un Ter 6%c'72A 106'% 106% 106% Colo Ind cl tr 6s 31_ 55 51 54% Colo & So 4 %s 90_ 65% 65 65V* Columbia G & B 5s '62 May . 100% 100'/, 100% Columbia G&E 6s’61 1001, 100 100% Cornel Inv T 6%s 49 111% 111% 111% Cor Coal Md rf 6s 60 35 35 35 Con Coal Md 6s’60 etc 34% 34% 34% Con Gas Chi 5s 36 .. 102% 102% 102% Con Gas N X 4%s 61. 108V, 108V, 108VA Con Gas N X 6s 67... 105% 105 105% ConG N X db 6%s’4S 105% 104% 105 Consum P un 3 %s'65. 105 105 105 Container deb 6s 43.. 101% 101% 101% Container 6s 46 .. 105 105 105 Crown CAS 4c ’60— 104% 104% 104% Crown Will P 6s 61.. 106 106 106 Cuba R K 1st 6s 62 . 57 65 57 Cuba RR ref 7%s '36- 60% 58 60% Cuba Nor KK 6 %s 42 59% 58% 59% Del ft Hud ref 4s 43.. 80 80 80 Del ft Hud 6%» 37_ 99% 99% 99% Dei P ft L 4 % s 69_104% 104 S. 104 -n Del P & L4%s 69_105% 105% 105% Den ft H U cn 4s 36 . 31 30% 30% Den ft K G W 6s 65 . 15% 15 15% Deu&KGW 6s'55asst 14% 14% 14% Detroit Edis 4s 65 F 109% 109% 109% Det Edison «%s'Ul D 113% 113% 113% Del Edison 5s 62 ._ 108% 108% 108% Dui S S ft At 58 37 . 61V* 59% 61% Ed El 11 Bklyn 4s '39. 107% 107% 107% Enecv4s 63 A__ 78V* 78% 78% Erie 4s '96 101 101 101 Brie gen 4s '96_ 79% 79% 79% Erie ref 6s 67__73% 72% 73% Erie ref 5s 76__ 73'/* 72 72% Fed Lt & Tr 6s’42 at. 99 99 99 Fla EC Ky 6s '74 - 9% 9% 9% Fla E C Ry 6s '74 Cfa. 9 8% 9 Fran Sug 7 %s ‘43_ 37 37 37 Gen Cable 6%s'47_102% 102% 102% Gen steel O 6%s 49.. 93 92% 92% Gen Thea Eq 6s 40 — 25 23% 25 Gen Th Eq 6s 40 cfa. 25 23% 25 Goodrich 6s 45 _104'% 104% 104% Goodrich 6 %s 47_108% 108 108 Goodv'r T&H 6s 57 . 106 10514 105% Gt N R ret 4%s 61 A 108'/* 108 108 Gt N K gen 4%s 76 D 99% 99 99% Gt N K gen 4%s 77 E 99% 99% 99% Gt N R gen 5s '73C .. 105% 105 105 GtN R 6 %s 62 B _110 109%109% Gt N H gen 7s 36 A.. 102% 102% 102% Gulf M ft N 6s '60 .. 85 84V4 84% Gulf Sts St) 6%s’42. 103 103 103 Har Ky-PC lat 48*64. 91 91 91 Hoel R )ft Co 6 %s‘34_. 50*4 49 49% H'aa tonic con 6s '37_ 80 79% 80 Houston Ull 6%a 40.. 101% 101V* 101% Hudson Coal 6a '62... 39% 39 39% Hud Co G lat 6a’49.. 121 121 121 Hud ft Man lnc 6a-67. 34% 34 34% Hud ft Man ref 6a ‘67. 85 83% 85 III Bell Tel S%s 70 105 104*4 105 III C 1st ext 3%s '51-. 102% 102% 102% 111 Cent 1st 3%s'61— 102% 102% 102% ill Cent coll tr 4a ‘62.. 84 83% 84 111 Cent coll tr «s 62. 71% 71% 71% 111 Cent ref 4s '66__ 86 86 86 111 Cent 4 %s '*6 — 65% 66*4 65*4 111 Cent ref 6s 66- 94% 94% 94% III Cent 6%s 18 . 102% 102% 102% 111 Cent Lou S %'s'63. 94 94 94 ICCftStL NO 4%s 63 72% 72% 72% 1CN ftStL NO 6s 63 76% 76% 76% Ind ft Loulsv 4s 66 . 24 24 24 inland SH 4%s 76 A 103% 103% 103% Inland Stl 4%s »1 B 102% 102% 102% Int R T 1st rf 6a 86 80% 90% 90% I R T 1st ref 6s’66cfs 88% 88% 88% Int K T 6a Si_ 63% 63% 63% Int RT7l '33_— 90% 90% 90% Interlake 6s '61 -- 94 93 94 lut Grt Nr 6s '66 C_37% 37% 37% Int Grt Nr 6s 62 A_ 38% 38% 38% in* Or Nr adl 6s52A. 11 10% 11 int Hydro El 6a 44_52% 61% 52% Int Mar Msr4s 41— 70 68% 68% Int Pap lat 6a 47 ft— 95 94% 95 Int Pap rat la *66_ 79% 79 79% men. low. s:»». Int Ry of C A 6s '41 . 884 884 884 V)tTATcv44«,*». 884 874 884 lnt T & T 4 4s '61_ 78 774 78 lnt TAT 6s'66_ 814 81 814 lnv Eo 6s *48 P ww 101 101 101 lnv Eq 6s 48 B xw 1004 1004 1004 James FAC 4s 89 _. 874 87 874 Kan CFSAMrf4s'36et 39 384 39 Kan C So 1st 3s 60 .. 75 75 76 KanCSorf in 6s'60 . 684 684 684 Kan C Ter 1st 4s '60.. 1074 1074 1074 Kan GAB 44s '10_ 106 105 105 Keith 6s'46 . _ 96 954 96 Kendall 6 4s ‘48 ww. 103 103 103 Ky&In4T44s'«l6t. 100 100 100 Kresite Foun 4s '46 ... 1094 1094 109V* Laclede Gas 6s 39 .. 1014 1014 1014 Laclede G 6 4* '63 C. 75V* 754 76V* Laclede G 6 4a'60 D. 75 744 744 L E A Wn 1st 6s 37.. 102 102 102 Lautaro Nltr 6s 64.. 234 234 234 Len CAN 4 4a '64 A.. 1024 1024 1024 Leh CAN 4 4s 54 C— 103 1024 103 Leh Val Coal 6s 44_ 974 974 974 Leh Val Coal 6s'64... 664 664 664 Leh Val Har 6s 64 874 874 874 L V N ? 1st 4s 45 gtd 60 60 60 Leh V Pa con 4s 2003 394 39- 39 Leh V P con44s 2003 414 41 414 Leh V RK con 6s 2003 454 454 454 Llgg A Myr 7s '44_ 1334 1334 1334 Loew's 6s 41 _ 1034 1034 1034 Long isl unlf 4s’49._ 1024 1024 1024 Long isl rsf 4s 49 102 102 102 Long Isl deb 6s 37_ 984 98 984 Lorrlllard 6s ‘61_119 119 119 La A Ark 6s 69_ 88 874 874 1 A N 4 4a 2003 C._ 1044 1044 1044 L A N rf 64» 2003 .. 1054 1054 1054 LAN MoAN 44s'45 1114 1114 1114 LA N St L 3s'80 81 81 81 L A N So Mon 1t 4s'62 884 884 884 M'Cro'vS54s'41 filed 1164 1164 1164 McKees « H6 4» 60 1034 103 1034 Manhal 11 4s 90 ctfs. 67 67 67 Marlon St Sh 6s 47 . 84 84 84 Market St Ky 7s'*0 A 1014 1014 1014 Mead Cn 6s 46 103 103 103 Met W S E! Ch 4s '33. 174 17 174 Mid HR N J 6s 40 ... 73 73 73 MR h, RAS Lbs 61 104 1034 104 Mil Is RAS L rf bs 71 104 104 104 MU A Nor con 4 4s'39 69 674 69 Mil Spa & N W 4s 47 . 374 364 37 MStPASSM cn 4s 38. 364 354 364 MStPASSM cn 6s‘38. 31 31 31 MStPASSM 6s '38 gt. 394 39 394 MStP&SSM 64s'49.. 224 214 224 MStPASSM 64s'78 . 86 86 86 MStPASSM rf 6s'46A 264 24 264 Mo K A T 1st 4s '90._. 83 81 83 Mo K A T 48 62 B_ 684 584 584 MoKAT44e78_ 584 584 684 Mo K AT 6s 62 A_ 634 63 634 Mo K A T sdl 6s 67_ 334 334 334 Mo Pac «s '76_ 114 104 114 Mo Pac &s 45 A ... 294 29 294 Mo Pac 6a '65 A Ctfs.. 27 27 27 Mo Pac 5s '77 F -. 294 284 294 Mo Pac 5s '77 F ctfs.. 27 27 27 Mo Pac 6s'78 G_ 294 29 294 Mo Pac 6s 80 H_ 294 29 294 Mo Pac 6a 8II _ 294 29 294 Mo Pac Bs *1 1 ctfs— 27 27 27 Mo Pac 6%s 49 A 9% 8*4 944 Mob & OHlo 4%s'77-. 12 11% 12 Mob & Ohio 5s 38 _ 12% 12% 12% Mohawk * M 4* 81— 86V* 86 86% Mont Cent Bs '37_108** 103% 103% Mont Cent 6s 37_104% 104% 104% Mont Pwr 5s 62 A_100'* 997* 100'* Mont Tram 5s '41_103V, 103 103% Morris* Co 4%s 39. 104% 104% 104% Mor & Ksx 3 %s 2000. 90% 90 90% Mor & Esx 4 %s '55 867* 86 % 86% Nashv C&St L 4s '78. 87 87 87 Nassau El 4s 51 Rtd. 60% 60 60% Nat Dairy 6%8 48 .. 104 103% 103% Nat Dis P C «%* 46 103% 103% 103V* Nat H M lst4s'51 asst 47, 4 4% Nat R M 4%s 57 asst 4% 4 4 Nat Steel *s 65 . 106 105% 106 New Enp RR 4s '62_59% 59% 59% New Enp RR 5s '45 55 55 55 New E r&T 1st 6s 62 123% 123 123*4 New J P*E4%s 60 106% 105% 105% New Or ONH 6s 83 A 78% 77 78 New Or & N 4%S 62.. 52 52 52 New Or P S 5s 62 A-- 91% 91% 91% New Or P S Ss 65 B 91% 90% 91% New Or Ter 1st «s'63 85% 85% 85% New OT&M lnc5s'35_ 25 247* 247* New Or T&M 6%s 64 33 33 33 N Y Cent 8%s 97 . 99% 99% 99% N Y Cent con 4s '93 92% 91% 92% N Y Cent rf 4%a 2013 77% 76% 77% N Y C if 4%s 2013 n 774. 76% 77% N Y Cent ret 6s 2013. 83% 83 83% N Y Cent cv 6s 44 . 115 114% 114% N Y C L Sh 3%s 98 . 91% 917. 91% NTC Mich C 3%s'98. 90 90 90 NVC&StK 1st 4S '37-. 102% 102 102% NYC&StL 4 %8'73 .. 75% 74 75% NYC&StL 6%s 74 A. 88% 87 88% NYC&StL 1st 6s '85.. 1007* 100% 100% NYC&StL 6s'36 rets.. 86 84% 85% N y Edison 6s '44 B— 1057* 105% 105% N Y Edison 6s '61 C— 105% 105% 1057* N Y Ed ref 6%s '41 .. 109% 1097* 109% N Y G El H&P 5a '48. 123 122% 122% N Y & Green L 5s '46. 94% 94% 94% N Y 1.&W 1st 4S 73 . 96% 96 96 N Y Lae&W 4%s'73. 104 104 104 NY NH & H 3%s'56_. 33% 327* 32% NY NH 4 H 48 55_ 34% 34 347* NY NH&H 48 66_ 35 34% 35 NY NH&H 4s 67_ 19% 19 19% NY NH & H 4%s 67.. 36 35 35% NY NH&H cl tr 6s'40 45% 45% 45% NY NH & H cv 6s 4*. 36% 36% 36% NYNH&H con 4s'54 24 22% 24 NYNH&Hcn4s'55Jan 23% 23% : 3% NYNH&H cnRy4s'f 6. 24 24 24 N Y O&W Ren 4S 65.. 37% 36% 37% N Y O&W ret 4s #2— 45% 45% 45% N Y Rys Inc 8s 65_ 33% 337* 33% N Y Rvs Inc6s'65asst 33% 32% 33 N Y Steam lat 5s 51. 106% 106% 106% N Y S&W 1st rf 5a’37. 60% 58 60% N Y S&W Ren 6s'40.. 48 46 46 N Y S&W Ter 5s '43.. 100 100 100 Nlag L&O P 6s '55 . 10774 10774 107% Norf Solst rfos'61cfs 167* 16% 16," N Y Tei Ren 4%s 39.. 111% 111% 11174 N Y Tr Rk 6s'46 stp— 85 85 85 NYW*B«%s«6—. 19% 18% 19 N1»r Sh 5%s '60 _ 97% 97V* 97% Norf&W 1st 4s'96 — 1157* 115% 115% North Am Cobs 61.. 105 105 105 North Am Ed 5s 69 C 104 103*4 104 Nor Cent Ry 4%s '74. 112% 112% 112% Nor n O T & L 6s 47.. 108% 108% 108% Nor Pac Ren 3s 2047.. 75% 75 75% Nor Psc 4s 97 1057* 105% 105% ftorn raenjsjim.. so»» Nor n Pac 5s 204 7 C~ 102 101% 101% Nor n Pac 6s 2047 D . 102 101 % 102 No. Pac 6s 2047 . 108% 108% 108% No* n St P lst5s'41A. 105% 105% 105% Ohio River gn 5s "37.. 102 102 102 Ont Trans 1st 6s 45.. 113% 113% 113% Ore Sh Line 6s 46 119 119 119 Ore W R K * N 4S 61 106% 106% 106% Otis Steel 6s 41 _ 103 103 103 Pac Coast 5s’46 _ 61% 61% 61% Pacific Gas&El 4s'64. 107% 106% 107% Pac G A E 6s 42 . 104% 104% 104% Pac RR Mo 1st 4s’*». 99% 99% 99% Pac Tel 1st Is '37_104% 104% 104% Pac T&T ref 6s '62_110% 110 110 PanAmPC6s 40 — 57% 65% 57% Pan-Am PC6s40ct_ 56 54 55% Par-B way 6%s '51_ 60 58% 68% Param't Pic 6s '66 _ 95 94% 94% Park-Lz 6%s '53 cfs. 36% 36 36% Parmeiee 6a 44 _ 62 62 62 Penn RR 41 63 ... 102% 102 102 Penn HH4%s'81 D . 106% 106% 106% Penn RR 4 %s '84 106% 106 106 Penn HR con 4%s 60 119 119 119 Penn KK an 4%s 65 110% 110 110 Penn RR db 4%a'70 101% 100% 101 Penn RR 6a 64 .. 106% 106% 106% Penn RH gen 6s 68 . 116% 116% 116% Penn HR 6%s 36 100% 100% 100% Penn P & L4%a 81 . 106% 106% 106% Peoria & B lat 4s 40_ 78 77% 78 Peoria & E Inc 48 '90.. 10% 10% 10% Pere Mara 1st 4s £(-. 91% 91% 91% Pere Marq 4%s 80 .. 92% 92% 92% Pere Mara 1st 6s 68-. 100% 100 100% Phils B&W 4%s 81 — 110 110 110 Rhlla B&VV cn 6s '74.. 123 121% 121% Phils Co 6s 87 -- . 105% 104% 104% Phils & R C A1 Sa ’7t. 50% 49% 60% Phlla A K C A 1 6s '49 28% 27% 28% Philippine Ry 4s ‘37 . 27% 27% 27% Plllsbunr FI M 6s '48. 108 107% 107% ECCAStL 4 % s ’40 A-. 112% 112% 112% PCCAStL 4%s’63 1__ 117 116% 117 PCCAStL 4%s'77 O— 108% 108 108 PCCAStL 6s 70 A_lt6 116 116 PCCAStL 6s 76 B .. 116% 116 116 PlttsAWVs 4%s’68A. 81 79% 80 PlttsAWVa 4%s’69B. 80 80 80 PlttaAWVa 4%s60C. 80% 79% 80% Port A CAD 6a'68 A.. 80 79% 80 Port Gen El 4 %* 80 75 74% 74% Porto Rico A T «s 48 78 76% 77% Postal lei A C6s 88. 36% 35% 36% Pressed Stl C 6a S8 - 83% 82% 82% Pure Oil 4%s'60 115% 112% 115% Purity Bak 6a '48 — 102% 102% 102% Reading Jar C 4B 81 96% 96% 96% Raiding R«%1’97 B 107 107 107 Rem-K 6%S'47 A WW 104% 104% 104% Rep Ir A Stl 6s '40 . 106% 106% 106% Republic Stl 4 %a '60. 116% 114% 116% Republic Stl 6%s'64. 109% 108% 109% Ravers CopABia'48. 107% 107% 107% Richfield OU 8s ‘48 .. 49% 47 48% Rtehflsld O 8s '44 ef9. 47% 46% 47 Rio Gr Juno 6a'll- 90 90 . 90i Fl*h. Low 2:66 ! Roch OAE 5s 'SI E 108*. 108*. 108*. Roch GAE 54" ’4* 1054 1054 1054 R I AAL 1st 44s *«. 15 144 15 Rutland Can 4s '49 . 354 35 354 Rutland RR 44a 41 35 35 35 St L IMAS RAO 4s'*8 714 714 71 St L PANW R» 41 .. 404 40 <04 St U-S F «s 60 A .. 18 164 18 St L-S F 4S '50 A Cfs 16*. 164 164 St L-S F 44" 7* 164 164 16V, St L-S F 44s,7»ef at 154 14*. 154 St LS Wist 4s *9 _. 784 784 784 St L S W 2d 4a '89 . 644 544 544 StLSWmrt 6* '90 314 31 31 St 1. SW 1st ter 6s‘62 414 414 414 St P K C S L 4 4B'4i 184 184 184 St P MAM ext 6a '48 1064 1064 1064 San AAA Pasa 4a'48 944 94 944 San An PbS«a'62 A 109 109 109 Scioto CAN E4s'*9 *1144 1144 1144 Schulco *Hs ‘46A sti> 594 59 594 Schulco 64s'46 B st. 584 58*. 584 Seabd A L rsf 4s 69.. 8*. 8 84 Seabd A L 6s ‘45 A .. 10*. 10 10*. Seabd A L*s‘48rfa 94 9 94 Seabd A-FI «s‘!SA et. 44 44 44 Sharon S H 648‘48 . 103 103 103 Sllestan Am 7a 41 — 75*. 754 754 Skelly 011 6 4s *9 _. 101*. 1014 1014 Socony Vac 84a 50 . 1064 1064 1054 So Bell TAT Sa 41 . 1074 1074 107’, So Colo Pwr 6a 47 A 1034 103V. 1034 So Pac col 41 49_ 84 83 84 So Pac ref 4s '66_ 1004 1004 1004 So Pac 44a 6*__ 824 80*. 824 So Pac 44s 69_ 824 80S. 824 So P.e 44s ’81 _ 82 804 8? So Pac Or* 44s ‘77_ 934 924 93 i So Ry een 4a 66 A... 594 57*. 59 So Rv 6a 94 _ 97 96*. 97 So Rv een 6a 56 - 76 74 76 So Ry M A O 4s ‘*1 63 62*4 63 Southern Ry 64s‘56. 78*. 774 78*4 Southw Bell T 5s 64. 1054 105V. 105', Stevens Hotel 6s‘46.. 26 244 254 Studthakerev 6s‘46 . 904 824 90 Swtft A Co 8%4s '60_ 1064 1064 1064 Tenn Cent 6a 47 _. 854 844 854 Tenn CAC 6a ‘44 B ._ 104*. 1044 1044 Tenn El Pw 6s ‘47 A- 994 984 994 Texarkana 6Ha‘60... 88 88 88 Tex Coro ev 6a '44_ 1084 1024 1024 Tex A Psc 5a'77 B_ 994 99 99 TexAPae 5s ‘79 C_ 994 984 994 Tex&Pac 6s ‘10 D_ 99 984 984 Third At raf «a‘60 . 684 674 68 Third A ad In aa 6s'60 32 314 32 Tol A Ohio C 8 4 s '60 1004 1004 1004 Tol St LAW 4s ‘60 .. 984 984 984 Trumbull Stl 6s 40._ 1024 1024 1024 Un Ol I of Cal 4s *47.. 121 121 121 UnOCal 6s 42 A_ 120 120 120 Un Pac 1st 4s '47_1124 11214 1124 Un Pao 4s '68 _ 1044 1044 1044 un t-aca^s m . iubhi iu» Un Pd» 1st rf 5s 200* 1174 1174 1174 | Unit Biscuit 5* ’50 . 1074 1074 1074 Unt Drug 6s '63 ...1004 100 1004 U S Rubber 6s 47 . 1044 104 1044 Unlv Pine* R«9'3*. S8 38 38 Utsh LA T 6s’44 A— 98 974 974 Utah P ft L 6s ’44 .. 994 994 994 Util P ft L 6s’59 ww. 614 614 614 Util P*L64s’47_ 654 644 644 Vanadium cv 6s’41... 904 904 904 Vsr Sue 1st 7s 43 cfs 12 12 12 Va E&P 1st rsf 4s’65. 1074 1074 1074 Va Mid een 5s '36_ 1004 1004 1004 Va Ry 4 4s 62 B_ 1044 1044 1044 Va Ry 1st 6a '62 A_1114 1114 1114 Wabash 44a'7*_ 30 30 30 Wabash 6s ‘76 B__ 32 32 32 Wabash 6s '80 D- 32 32 32 Wabash 1st 6s '39__ 994 994 994 Wabash 64s'75 ... 32 32 32 Wabash 6 4s'76efs„ 284 284 284 Wabash Om 3 4* *41- 60 60 60 Walwarth 4s ’55_ 714 71 714 Warner Bros er 6a ‘19 884 884 884 Warner-Quln 6s '39 . 314 314 314 Warren Br cv *s'41 . 484 45 484 Warren Br 6s'41 rets 46 • 434 46 W Pa P 1st 6s«4* A 1054 1054 1054 W Sh 1st 4s 2061 atd. 884 87 88 W Sh 1st 4s 2061 re*. 83 83 83 West'n Md 1st 4s 6*. 97 964 964 West'n Md 6 4*‘77 .. 1074 1074 1074 West'n Pac 6s‘4* A . 384 384 384 West’n Pac 6s46A as. 384 384 384 West’n Un 44 * 80 . 1034 1034 1034 West'n Un cl tr 6s’3*. 1064 1064 1064 West'n Un 6s '61_ 1054 105 105 WMt’B UB 6a <0_ 1054 104H 105 West’ll Un (4s *«— 1034 1034 1034 Wheel Steel «4a’l<- 1024 1024 1024 White S M 6s ‘40 - 974 974 974 W Sd Stl con 7s’36 et. 244 244 244 W Sp Stl lar Ts ‘36 et. 254 254 254 Wls C 1st an 4s ’49 . 204 194 204 Wls C 1st an 4s '49 ct. 194 184 194 Wls C S&D ter 4s '3*. 12 12 11 Wilson ft Co 4s'66 . 101 1004 101 Tounatn SAT aa’TOB. 1044 1044 1044 Tounatn SAT 6*rT«A 105 1044 105 MONEY FOR CONSTRUCTION LOANS and LOANS ON IMPROVED PROPERTIES 51/2% FIRST DEED OF TRUST ONLY GEORGE L BORDER BUSINESS HAS LOW INVENTORIES 1 -.- 1 Strong Demand Is Expected ! to Bring Sharper Gains Than Expected. By the Associated Press. NEW YORK. January 10.—Develop ments during the current week ampli fied the brightness of trade aspects for the ensuing year. Dun & Brad street said today in its weekly review of trade and business. Meager inventories Id both retail and wholesale divisions, accompanied by a strong desire for purchases of merchandise of good quality, the re view says, "may contribute more forcibly than waa estimated to rising production and distribution before the end of the first quarter." Earnings Increase. Increased corporate earnings, larger bank clearings, and the rebound of industrial operations after the year end recession, were other factors lend ing color to the picture. The expected recession in retail sales after the holiday rush, the re view says, was stemmed by a series of sales featuring advantageous prices and quality merchandise. Although the quantities were in some cases limited, the agency reported, “the response to January promotions has b:en generous." A siege of Winter weather in the Midwest was particularly effective in moving heavy wearing apparel, the agency says, adding that sales in most cases were 8 to 12 per cent ahead of a year ago. Production* Pushed Dp. On the industrial horizon, the agency reported a faster rate of pro duction. especially in automobiles, steel, farm implements, electrical equipment, building materials, hard ware, shoes and textiles. The esti mated Increase of 30 per cent for Industrial output may be exceeded during the first quarter, the report says. Marked gains for the week were made by producers of machine tools, paper, chamlcals and metal products, while many lumber mills worked on a 24-hour schedule, the review says. Although invalidation of the A A. A. brought trading to a standstill In primary dry goods markets, the agency j stated that reorders for regular dry goods lines were heavy. Eastern Steamship Lines, Inc.— Common share earnings, 11 months j ended November 30, were $1.11 vs. 36 cents. U. S. Steel Reports Lower Shipments During December It tha Aaaoclated Press. NEW YORK. January 10.—8hip nenta of finished steel products by the Jnlted States Steel Corp. In December lecreased 20,305 tons to 661,515 tons, rhls compared with 681,820 tons in November and 418,630 tons In Decern >er, 1934. The company's shipments In Decem >er, 1933, amounted to 600,639 tons, tnd In December, 1932, to 227.576 tons. For the year ended December 31 last, ixcluslve of yetr-end adjustments, ihipments aggregated 7,371,299 tons, is against 5.925,873 tons In the previ ous 12 months. Washington Exchange SALES. Capital Traction 5s—81,000 at 90*i,! $1,000 at 903,;. $1,000 at 9034, $1,000 at 90*;. Potomac Electric Cons. 5s—$1,000 at 101 Vi. Potomac Electric 6% pfd.—5 at 1101*. AFTER CALL. Mergenthaler Linotype—10 at 403i, 10 at 40*/4, 10 at 40 Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. A Tel. 4s.115 _ Am. Tel. & Tel. col. tr. 5s.. 110 __ Anaeostla A Pot. os__ 83 87 Ana. A Pot. Guar. 5s_... 106 _ C. A P. Tel. of Va. 5s._105 _ Capital Traction R R. 5s — MO1. Ill'a City A Suburban 5s__ 87 89 Georgetown Gas 1st 5s__ 113 Pot. Elec Pow. Cons. 5s— ini'. Pot Elec. Pow. Cons. 6s 106',< .... Wash. Gas (is 1958_lOH’w _I Wash. Gas 5s I960_llH'/a _ Wash. Gas (is. series B 102 _! Wash. Ry. A Elec. 4s_luo3* lou’« MISCELLANEOUS. Barber A Ross. Inc . «‘,aa_120 .... Chevy Chase Club .Vis_105 Col. Country Club .Vas_102 W. Mitt. Cold Storage 5s.. 98 STOCKS. PUBLIC UTILITY. Amer. Tel. A Tel. 19__ Capital Transit Co. (1)__ 14'/a 15 N. A W. Steamboat («) *85 _ Pot. Elec. Pow. pfd. (6). lici'a _ Po El. Po. 5'aO pi. (5 501 113',a 115 Wash. Gas Lt Co. (3.80>._ 70 _ Wash. Ry. A El Co. (121— 550 _ Wash. Ry. A El. pfd. <5j._ 107'g 1U83.« BANK AND TRUST COMPANY. Amer. Sec A Tr. Co. (10)_ 218 Ban* of Bethesda tOi__ 22 Capital <4i ___..._In* _ Com. A Savings (8)_175 _ Liberty |3> ___*90 _ Lincoln (6.251 _ 195 250 Nau sav A: Ti _100 Prince Georges Bk A Tr__ 17 22 Riggs ‘hi___230 Riggs ofo 151 _H>5J/« _ Washington (6)_105 _ Wash. Loan A Tr. <8)_203 — FIRE INSURANCE American <12> _ 180 _ Corcoran (2.50)_ 00 _. Firemen's <1 60)_ 30 35 National Union < 601_ 13 'T'ITLE INSURANCE Columbia (.30)__„ 6 — Real Estate (B)_108 -_ MISCELLANEOUS Carpel Corp il 60)_ 22 25 Lanston Monotype '4)__ 73 Mersenthaler Linotype_ 4o'a 41 Peoples Drug s ofd 1(1501 113 Real Eat. M. A G pfd. (.20) 4 5 Security Storage <51_100 -. Ter. Ref. A Wh. Corp ‘3)_ 50 - Wdwd. A- Loth com 43 - Wdwd A Lothrop pfd. (7) lloVa - •Ex dlv'dend • so cents extra. ♦Flat. INVESTING COMPANIES NEW YORK January in—New York Security Dealers' Association: Bid. Asked. Admin Fd 2nd Inc_15 no 16.92 Am Gen Eq Inc_-— l.Oti 1.1. Am Business Shrs_ 1 13 1-4 Am Ins Stocks_ 3 75 4.50 Basic Industry _ 4.31 ----- Bullock Fund _17.on 18.oO Corporate Trust _. _ 2.55 - Corporate Trust A A_- 2 43 -- Corp Tr A A mod_- 3.on - Corn Tr Accum Se-_2.43 - Coro Tr Acr Mod_ 3.0(1 . Cumulative Tr Sh .. 5.28 - Depos Bk Sh N Y A".- 2.70 3.00 Depos Ynx Shrs *'A'_ 4.41 4 00 Diversified Tr C_- 4.15 4..->o Dividend Shrs _ l.fin 1.72 Equity Corp 83 of_ 34.50 38 50 Fidelity Fund Ir.c_ 40.70 53.51 First Boston Corp_ 64.25 65. .5 Five-Year Fixed Tr_. 3 82 - Fixed Trust Sh A_11.15 - Fixed Trust Sh B,. 9.31 ----- Fund Investors Inc- 2.60 2.88 Fund Tr Shrs A__-_ 5.51 6.13 Fund Tr Shrs B___ 5 23 Incorp Investors_- 20.81 -2.38 Inv Tr N Y Coll "A"_ 6.00 - Investors Fd •‘C’ Inc_ 90.72 92.56 Investors Fund of Am_ 1.02 1.1 Major Shrs Corp_ 2.625 — - - - Maryland Fund -_18.30 19.. 9 Mass Invest Tr_ 24.36 26 48 Mutual Invest __- 151 165 Nation Wide Sec__ 4.44 4.54 Nation Wide Sec vtc_- 1.62 l.<8 N Y Bit Tr Shrs — ... 3.875 ----- North Am Bond Tr ctfs_- 82.12o So.8.5 Nor Am Tr Shares_ 2.43 - Nor Am Tr Sh 1055- 3 13 - Nor Am Tr Sh 1956.— _ 3 09 - Nor Am Tr Sh 1958- 3.13 ----- Plymouth Fund Inc —— 9i Quarterly Income Sh_ 1.53 1.68 Selected Am Sh_. —— 3.32 — - - Selected Am Sh Inc_— 140 1.61 Selected Cumul Sh_ 8.60 - Selected Income Sh- 4.50 ----- Spencer Trask Fund_- 10 24 2(V4a Stand Am Tr Shrs_ 3.55 3.80 Stand Util Inc_ .92 .99 Super of Am Tr A- 3.64 - Super of Am Tr AA_— 2.48 - Super of Am Tr B_ 3.84 - Super of Am Tr BB_- 2.5o — Super of Am Tr C-- 7.18 - Super of Am Tr D_- 7.20 - Supervised Shrs_ 1.60 l.«5 Trust Fund Shrs_- 4.25 4 5o Trustee Stand Inv C- 2.73 - Trustee Stand Inv D_ _ 2.t»8 - Trusteed Am Bk ' B ’_— 1.10 1.22 Trusteed Industry Shrs.. 1.35 1-49 Trusteed N Y Bk Shrs— 1.71 1.91 t GOLD PROFITS IMPROVE. NEW YORK, January 10 (<F).— Alaska Juneau Gold Mining Co. re ports for December, 1935, net op erating profit of $156,000, compared with $150,700 in November and $172, 200 in December, 1934. STETSON NET LOWER. NEW YORK, January 10 (JP).— John B. Stetson Co. reports for 1935 net profit of $301,104 after charges and taxes compared with $342,232 in the preceding year. METAL MARKET. NEW YORK. January 10 (F.—Copper quiet: electrolytic, spot and future, 0.25: export. 8.HO. Tin steady: spot and nearby. 47.12a47.25: future. 46.12a46.25. Iron quiet, unchanged. Leady steady; spots New York, 4.5<>a4.55: East St. Louis. 4.35. Zinc dull: East 8t. Louts, spot and future. 4.85. Aluminum. 19.00a22.00. Anti mony. spot. 13.75. _ First Mortgage Money For CONSTRUCTION LOANS and LOANS ON IMPROVED PROPERTY in tha District of Columbia, Nearby Maryland and Virginia Sl/z% Prompt At Horn B. F. SAUL CO. 925 15th Straat Natl. 2100 t FREIGHT LOADINGS GAIN MOD CARS Weekly Total of 541,984 Is 44,710 Larger Than For Year Ago. ' NEW YORK. January 10 —The A« sociated Press seasonally adjusted week ly Index of freight carloadinas. based on 1929-30 as 100 advanced today to 67 7. compared with 63.9 the previous week and 62.2 a year previously. The range of recent years: 1035-6. 1034. 1033. Hifh ..._ 71.1 65 0 67 3 Low ....__ 56.0 59.5 47 7 By the Associated Press. The Aseociation of American Rail roads reported today revenue freight loadings for the week ended January t were 541,984 cars, an Increase of 75,305 over the preceding week, an increase of 44,710 over 1935 and an increase of 41,171 over 1934. Miscellaneous freight, 199,957; in-! :rease 28,803, increase 17,993, increase 17,993; increase 29,116. Less than car lot merchandise, 124, 084; increase 4,560, decrease 2,416, decrease 10,314. Coal, 146,374; Increase 28,800; in crease 18,897, increase 15,038. Grain and grain products, 25,073; Increase 5,329, increase 3,057, increase 1,735. Western districts, 15,399; an Increase of 1,623 over 1935. Live stock, 11,014; increase 1,198, decrease 2,815, decrease 4,603. West ern districts, 8,109; decrease 2,345 be low 1935. Forest products, 21,253; increase 4,- , 187, increase 5,087, increase 6,388. Ore, 4,735; increase 1,484, increase 2,286, increase 1,922. Coke. 9.504; increase 944, increase 2,621, increase 1,889. CHICAGO LIVE STOCK. CHICAGO. January 10 oP> (United States Department 6l Agriculture).—Hogs. 20.000 including 12.000 direct; generally 15 to mostly 25 higher than Thursday s average top 10.25. some held higher. Built 170-220 pounds, 10.10*25: 230-30 J pounds, ft.9oalo.15: better grade 140-ldO pounds 9A5al().2o: most sows. 8.65a0.(io. Cattle. 2.000; calves. 5oo: lower grade I steers fully steady, but few medium qual ity kinds weaker: slaughter she stock steady to weak: bulls easy and veaiers steady to a shade lower: most steers he.e of value to sell at fi.SOak.on. with odd head up to 9.25: cutter grade of cows. 4.25 a75: beef offerings. 5.50*6.25: few saits sausage bulls up to fi.So and 6.60: extreme top veaiers. 12.00, bulk lighter kinds, h.jo a 10.50. Sheep. 5.000; fat lambs opening slow: htrtt a n/i valet c * e H i r 1-, ■ , n • .a . sheep stead; teeding lam’i supply limited no early sales good to choice native and fed Western lsmbs. lu 2oa50: best hcid and above native ewes 4.75a 5 -.V choice light-weight Westerns quotable higher Official estimated receipts tomorrow: Cattle. 500; hogs 10 0'»0; sheep. 2.000. U. S. TREASURY POSITION. By the Associated Press. The position of the Treasury on Jan uary 8 was: Receipts. 582 788.884 37: ex penditures. 578.382 485.88: net balance. $7 178 .394 549 13 customs receiptt for the month. 58 417.14*.95 Receipts for the fiscal year (since July 11. 51 974 988.276.79: expenditures S3 - 922.303 844 17. including 51 737 483. 876 29 of emergency expenditures excess of expenditures 81.947.337.367.38: gross debt. 530 540.941.089.44 a decrease of 54 768 3]4 under the previous dav, gold assets $10 144.309 470 43. Receipts for January 9. 1935 (compara ble date .ast yean. *88.011,741.30: ex penditures 898.(842.612.23 net balance. $2,508 178.308 39: customs receipts for the month. $7,759 873.58 Receipts for the fiscal year $1,941 794.778.57: expenditures $3,715,368. 423.04 ncluding $1,904 923.488 89 ot emergency expenditures excess of expendi tures. $1.7 73 571.648.47: gross debt $2* 48* 931.105.20; gold assets. $8 258 001. 893.89. FOREIGN MARKETS. B- the Associated Press. LONDON—A Quiet and steady trend Prevailed on the Stock Exchange today. ostponement of coal strike notices helped gilt-edged securities, home rails and in dustrials. Oil and gold mining shaies firmed on renewed support, while shipping issues eased on profit taking. The marxet closed firm. PARIS.—Dissipation of rumors of de valuation of the dollar, coupled with profit taking, caused prices to decline on the Bourse today. Rentes declined while in dustrials moved irregularly International shares held firm. The market closed it regtilar BERLIN—In an active and cheerful ses sion of the Boerse today many shares ad vanced considerably. The market closed atrong. NEW YORK PRODUCE. NEW YORK. January 10 <7P .—Eggs. 11.002. steady Mixed colors refrigerators standards. 21’*a%: mediums. 17a 17 '♦' other mixed colors unchanged. Butter. 8.122. firmer. Creamery, higher than extra. 341 a'loV extra <92 score*. 34 *34*4: firsts <89-91 scores), 33a3334i cen tra hzed <90 sccre) 33* 2 Cheese 40.4*3, slow Prices unchanged. L<ve poultry irregular. By freight: Chickens. l*a?4: fowls. 18a24; other freight grades unchanged. FOREIGN EXCHANGES NEW YORK. January 10 <**■»—Foreign exchange steady: Great Britain in dollars, others in cents: Great Britain, demand. 4 9478: cables. 4 94 V HO-day bills. 4 937*: France, demand. 0H17*: cables. 6.«178; Italy, demand 8.02: cables. 8.02 Demands—Belgium 1H.89: Germany, free. 4n.30 r»»R. tourist. 23.75: rce com mercial. *21.85: Holland. 08.08: Norwav *24.87. Sweden 25.52: Denmark. *2*2 o9; Finland *2.19* Switzerland. 3 2 or, Spain. 13.7*2. Portugal. 4.50»2: Greece .94* a; Poland. 18 90; Czechoslovakia 4.10. Yugo slavia 2.30: Austria. 18.85n: Huncary 2ft 70n: Rumania. 80: Argentina 33.00n: Brazil. 8 50n Tokio. 29.00: Shanghai. 30.05: Hongkong 32.50: Mexico City. 27 85: Montreal in New York. ft9.87,2; New Yorjc in Montreal. 100.12*2 n—Nominal. ■ ■ ■ ■ » ■ — Radio Corp. of America—It was said a recapitalization plan may be acted on by directors at January 24 meeting._ Real Estate Loans In the District ef Columbia and Nearby Maryland and Virginia weaver BROC TT realtors O Loan Correspondent Metropolitan Life Insurance Company Washington Bldg. District 9488 ISOS H St. N.W. NA. 234S 1 Invest Your C i J Money at O/O » S You Invest your money wisely. 9 @ safely and with a li*7 return in n S this Axociation. We loan money j 3 ONLY on First Mortgages on ffl Homes, which is a safe and found §) rpt investment. jn K These mortgages are on real $=. S e«ta»* ii the District of Columbia, s IS r.eprby Maryland and Virginia S E Upon request. will sled!* [1 g! mail a copy of our latest financial g gj i.atement. g] Building \ § rsaasi 1 I sisTsX^t^w’- I 1 Phone NAtionol 6088 | i BONDS COVERSVEST RAILROAD PLBLIC LTILITY I ISDLS1 RIAL REAL ESTATE BANK STOCKS Inquiries Invited ClLLET & COc Woodward Building National 2460 PbiladeVbia — Baltimore First Trust Loans For Purchasing a Home or RE-FINANCING EXPIRING .TRUSTS NO COMMISSION CHARGE NO RENEWALS REQUIRED Terms Arranged on Easy Monthly Paymenta MIMIU BUILDING 4 LOAN ASSOCIATION COUNCIL*/ec NATIONAL 'F^GTrmcmeirt BUILDING ASSOCIATION b UNDER SUPERVISION ft fr V S. TREASURY ■49 NINTH STREET,[ I- ” YOU GET ABETTER USED CAR from a Buick Dealer —because he has to live up to Buick reputation Equitable Co-operative Building Association 915 F STREET N.W. Organized 1879 Do You Desire a Loan —on Real Estate or to Take Up First Mortgage? 'T'HOSE desiring money to purchase a home, refinance present 1 Indebtedness or improve property should consult us. Applica tions will receive prompt and courteous attention. No Choree for Approisol If Loon It Not Modo Loans Repayable Monthly lataraat Charred Only aa Unpaid Saline* af Priarlpal V ' X ^ V