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^Utility Shares Go Down Fractionally—Newmont Is Prominent Climber. By thm Associated Prsss. NEW YORK, December 28.—In dustriaJ shares rose sharply in the Curb market today as utilities settled to a fractionally lower range. Newmont, American Airlines and Detroit Steel products were leaders, * with gains of more than 5 points each. Aluminum. Ltd., climbed about 4'2. Issues up 1 to 2 included Casco Prod ucts, Aluminum Co. of America. Shat tuck Denn Mining. Pan-American Air ways and Nehi Corp. Montgomery Ward "A" yielded 3 in a small market. Oils were mixed within a fractional range. -S ....... ■ National Power Shows $8,635,363 Equity in Income By the Associated Press. NEW YORK, December 28.—Na tional Power & Light Co. reported for the 12 months ended with November net equity of $8,635,363 in the income of its subsidiaries, compared with $7,478,978 in the preceding 12 months. > Operating revenues of subsidiaries Increased to $77,608,156 from $71,813, 225 and the balance after interest charges and reserves to $14,709,637 from $13,554,449. For the three months ended with November the parent company’s equity Increased to $2,366,692 from $1,904, 609 In the comparable period last year. SHARP DROP SHOWN IN EXCESS RESERVES By the Associated Press. NEW YORK, December 28.—’"Ex cess" reserves of Federal Reserve member banks dropped sharply in the last week as the volume of money ■ in circulation was stepped up to han dle record holiday transactions. The latest, total is under last year, because of the 50 pier cent boost in reserve requirements last August 15. Reserves above the legal minimum, reported by the Reserve Board, com pared as follows: Week ended December 23„$1.KSO.OOO.OOO Previous week.. 2.<l5n.OOO.OOO 6ame period last rear . 2.1H3.000.000 * Pathe Film Corp.—Company re ceived a dividend of $245,000 on its holdings of capital stock of Du Pont Film Mfg. Corp. CURB BONDS DOMESTIC BONDS. High. Low. Close. Ala Power os '46 A_108 108 108 Alum Co 5s '52 _105*4 105*, 105*4 Am G ft E 5s 2028 - 108 107’. 108 Am P ft L 6s 2016 101*. 101*. ioi»i Am Rol Mill 5s 48 lo.'t*, 103‘, 103** Aopalach E P 5s '56 104*, III!*, 101 Anna! P 6s 2024 A _ 119*, nil*, 1 111*. Ark PftL 5s '56 . . 1031, 103', loat, As El Ind 41 as '53.— 62 61*, 62 As G ft E 4'as '48 ... 5.1*4 5.1*. 5.1*4 As G ft E 4’aS '40 . 53*, 53*4 53', As G ft E 5s '.V* 58*2 58*4 58 As T ft T 5*2* '55 A 87*. 87*. 81’a Bald Lo 6s ’.'18 xw 157 157 157 Bald Lo 6s '.18 xw stD 158 157*4 158 Bel Tel C 5s 'Ho C_-. 123*4 123'., 123*4 Birm El 4'as '68 OS'. OS'. OS', Can Pac Ks 42 124*, 124*4 124*, Cent Pw ft Lt 5s '56 05',a 05'a 05'2 Cent St El 5*aS '54 60 60 60 Cen St P * L 5'4s '53 74 733. 74 Chi Di El 4*4s '70 A 10514 105V, 105*4 Chi Rys 5* '40 cod SI SI 81 Cin Str R 5'as 52 A 101*4 101 101*4 Cin Str Ry 6s '55 B—104*4 104 ]04'a Clttes Svc 5s '50 78*, 7 7 783, Cities Svc 5s '66 TO 77 70 Cities S Gas 5* as ’42 102 102 302 Cit S P ft L 5'aS '52 74', 14 74', Cit S P ft L 5'as ’40 74'a 741, 74'a Com, Sb 514s '48 A 103*, 103'. 10.3*, Cons Gs of B 5s '30 1001. 1001, 100', , Cont GftE 5s '58 A 04', 04 04', Denver G ft E 5s '40 108*4 108'4 108', Detroit C G 6s '47 A 10614 1061, 1061, Det Cit Gs 5s '50 B 106 106 106 Det Tnt Bg H'is '52 12'4 II3, 12*4 Det * In B 6'aS '52 cd 121, 11'/, 12*, Dixie G G 6'aS '37 A 102 102 102 El Pw ft Lt 5s 2030 03'a 03'a 93', Emp Dis El 5s 52 103*4 103'4 lo.'t'a Emp O ft R 5'4s '42 91 *, 0114 Oil, Pirest Tire 5s '42. 104 1 04 1"4 Florida P ft L 5s '54 loo lno loo Gatineau Pw 5s - '56 102V4 102*4 102'4 Gatineau Pw 6s '41 loot, loo*, ino', Gen Pb U 61as '56 A 04'. 04', 04', Gen W W ft E 5s '43 A 03'a 03'a 03'a Geortia Pw fis 67 104*, 104', 104'a Georgia PftL 5s *78 87 87 87 Glen Alden Cl 4s '65 86 85'4 86 Grand Tr We 4s '50 104 104 104 Hall (W Ft 6s '47 sip 0814 98*4 08*, Hotl W Alt 7s '54 ww 45'. 45'a 45'a HOU G G 6'aS '43 ww 101 *, lOl', lOl*', 111 cent R R fis '37 lOl'j 1011, 1011/* III Pw ft L 6s '33 A 1061, 1(15*, 106 III Pw A L 5'aS '54 B 105 105 105 111 Pw ft L 5s '56 C lO.'l'a 103 103*4 Indian ft M E 5s 55 101*4 104*, 1043, Indiana Ser 5s '50 761* 7 6 761, Indiana Ser 5s '63 A 76 76 76 Inti Securities 5s '47— loo3, loo3, loo3, Interst Pw 5s '57 723, 713, 71 3, Interst Pw 6s '52 67'. 67 67 interst P S 4'as '58 F S53, S53, 85*. ler C P ft L 5s '47 B 104*, 104*, 1043. Xentuck Ut 5s '61_ 08 98 98 Ken U 6'4s '48 D_106*4 1 noli 10614 Kimberly c 5s '43 A_ 104 104 104 Kop GftC 5'as '50 — 103*4 103*4 10.".*i Lehlkh P S 6s 2026 A 1 lola 1 1(1*2 110*a Mem PftL 5s '48 A_ 103 103 103 Minn PftL 414s '78_loi*, loi*4 lni*, Minn P ft L 5s '55— 105 105 105 Miss Pow 5s ’55_._ 0314 03*4 0314 Miss Pw ft Lt 5s '57_97'a 07'a OT’a Nat P ft L 6s 2026 A. 102*4 102*4 10214 Nat P ft L 5s 2030 B ._ 03*, 03', 03*, Nat Pb 8 5s '78 cod_ 461, 461, 46'. Nebr Pw 6s 2022__ _ 125 1”S 1°5 New E GftE 5s '47_ 77*4 771, 77V* New E GftE 5s '48.77', 77'* 77*4 New E GftE 5a '50... 77’, 771, 77’, New E Pw 5'4a '54 ..101 101 101 NY P ft Lt 4'as 105*4 ]o5V, 105'a NTS BAG 4*as 'SO _ 102’, 102’, 102’, Nor.A L ft P 5*4* '56- 95*4 95*, 953, No Ind G ft E 6s '57 HIT*, HIT' , 107>a No Ind P 8 5s '66 C 104’, 104’, 104’4 No Ind P S 5s '60 D 105 105 105 No Ind P S 4*,s '70 E 104 103 103 No St Pw n',S '40 103*4 103*4 1"3*4 Norw E16s '45 glpd _ 104*, 104*4 104*4 Penn O E S*4s '50 B 104*. 10**4 104*4 Peon O t ft C 4s '81 B 08*, OS*-, 08*4 Peop L & P 5s ’70 27V, 27 27 Phil* El P 6'4s "72 109*4 109’/, 109V, Pledm N R 5s 54A _ 104’/, 104% 104’/. Pitta Steel 6s '48 105 105 105 Pub S No 111 5s '66 C 104*4 104*4 104*4 Pub S Okla 4s '66 A . 104*4 104*4 104*4 Pug S PftL 5*/,s 49 A 94’. 94*4 94’, Pux S PftL 4*4a '50 D. 87*/, 87*4 87*4 San An Pft.8 5a '58 B. 106V, 106 106 See Int.Sec 5s '48_102y, 102V, 102V, thw WAP 4*as '67 A. 104 103*, 103V, 5 E PftL 6* 2026 A.. 106*/, 106*4 106*4 sou Cal Ed 3*«s ’60_107V, 107 107*4 8ou Nat Gaa 6s '*4_ 103*4 103V, 103V, Std GftE CV 6s '35 cod 80*4 89 V, 80 V, Stand Pw ft Lt 6s '67 88*4 88 *4 88*4 Tenn B1 Pow Bs '56 .. 95*, 95*, 95*4 Texas Elec 5s '60_105*4 10514 105*4 Tex Pw A L 5s '56... 105*4 105*5 105*4 Therm fls '37 st ww_ 103 102*4 102*4 Toledo Edls 5s 'R2_107*4 107*4 107*4 Unit LftR D B'4S '52— 01*, 91*4 91*4 Utah PftL 6s 2022 A.. 101*4 101*4 101*4 Va Pub 8 5VaS '46 A_101*, 101V, 101 *4 Waih WftP 5i1 '60- 10512 105*4 105*4 West Pa 6s 2030- 105V, 105V, 105V,. West Pa Tr .61 'Ro_112 112 112 West T Ut 5s '57 A _ 07*4 97*4 97*4 We UGftE S'4s '55 A_105*4 105*. 105*,' Wll-Min LAP 5a '44_ 105*, 105*, 105*4 W1g PftL 4s '66 A_101*4 101V. 101*4 FOREIGN BONDS. Bad Con M 7a ’52_ 20*4 20*. 20*4 Bert M B 7a '47 MAN 22V. 22V, 22*4 Bosot M B 7s '47 a-o_ 22*4 22*4 22V, Buen A P 7'4s '47 at_ 88 88 88 Cauca Val fa '48_ 15*4 15*4 15V, Cent BaDk G ’52 A_ 23 23 23 Sent Bk Oer '51 B_ 23 22*4 22*/, ienm Mt B 5s '72 lx. 100 100 100 Pin R M B Bs '61 st— 101*4 101*4 101*4 Rio de Jan «*4a '59_ 30 29*/, 29'4 Russian S*4a ‘19 mat.. 1*4 1*4 1*4 TJ. S. TREASURY NOTES. (Reported by Ch»». D. Berner & Co.) Maturity. Bid. Offer. 15 ’37.. 10011-32 _ 15. ’37.. 101 1-32 101 3-32 . 16. '37.. 102 11-32 102 13-32 1. ’3*.. 102 15-32 102 17-32 „ Jar. 15. ’38— 103 5-32 103 7-32 2’m June 15. 38._ 103 14-32 103 16-32 i'ht Sept. 15. '38._ 103 4-32 103 6-32 ltie Her. 15. 30.. 101 4-32 101 6-32 S t»« June 15. '30 102 21-32 102 23-32 lH« Dec. 15. ’30.. 10031-32 101 1-32 lHs Mer. 15. ’*0._ 101 10-32 ini 21-32 1V4* June IS. ’40.. 101 4-32 101 6-32 1W« Dec. 15. 40_. 101 4-32 101 6-33 jt.s Mer. is. ’41.. 1014-32 1016-32 I Ha June 15, '41 100 23-32 100 25-32 iy«a Dee. 16. '41— 1001642 1001742 h NEW YORK CURB MARKET By privet* wire direct to The Star Stock and Salsa— Dividend Rate Add 00. Hlkh. Low. Oloss. Aero Supply <B)_ 2 4* 4* 4* Agfa Ansco __ 1 14 14 14 Ainsworth (al)__ 1 SI 21 21 Air Investora Ino. 6 2 2 S Air Inv Inc war.. 4 % % % Ala Pwr pf 16) 100a 72 71* 71* Alaham Pw pf (7) 100f 80* 80* 80* Allen Indus Itl) * 24* 24* 24* Alles Fisher ... 12 6* 6 6* Alum'nCoof Am 700a 146 142 142 Alum Am pf *11* 600a 116 116 116 Alumn Ltd .... * 94* 90* 94* Am Airlines. Ino.. 48 85* 21* 81 Am Capital (B) ..18 * * * Am CP&L ww2ty_ 1 44* 44* 44* Am CltP&L Ba20c 10 6* A* A* Am Ovnam B t60e 26 24* 83* 33* Am Eqit (a22*c). 1 4* 4* 4* Am & For Pw ww 12 3 2* 2* Am Fork & H (tl) 6 20* 20* 20* Am G&E (1.401 24 40* 89 39 Am Gen C'p <a50c) 22 10* 10* 10* Am Gen pf (2*) 60» 13* 83* 33* ImGenCpfll) £00. 84* 34* 84* Am Hard Rub(al)400. 28* 28 28 Am Lau Mch t60c 1 26* 24* 24* Am Lt&Tr (1.20). 6 20* 20 20 Am MfgCo <a3)._ 76i 82* 81* 81* Am Maracaibo .. 41 1* 1 1 Am Meter (a2*) - 4 50 49 60 Am Seal Kap a30c 1 10* 10* 10* Am Superpower . 100 2* 2 2 Am Superpwr pf_ 4 46* 46* 46* Anchor Post F — 17 4* 4* 4* Angostura (t2Pc) 2 6* 6* £* Appalach E P pf 7 20. 107* 107* 107* Arcturus Radio T 4 1* 1* I* Ark Nat Gas _ 6 6* 8* 6* Ark Nat Gcu pf.. 5 9* 9* 9* Ark Nat Gas (A). 20 7* 7 7 Ark PA L pf (7) . 120* 95 94* 95 Art Metal W t60c 2 14* 14* 14* Ashland Oil & Ref > S* 6* •* Asso Gas & Elec_ 1 1* 1* 1* Asso G & E (A) .. 32 8* 8* 3* Asso G & E *5 of 6 81 29* 29* Assoc Invest <t2) 100» 63* 62* 62* Asso Laundries 1 H H * Atl Coast Fisher . 4 10* 10* 10* Atlas Corp ia80c) 71 16* 16* 16* Atlas Corp war .. 57 3* 8* 3* Atlas C pf A *3 > . 6 50* 60 60* Atlas Plywd a50c 1 19* 19* 19* Austin Silver ... 124 3* 2* 2* Auto Products ... 1 7* 7* 7*4 Auto Vot M(t60c) 1 7* 7* 7* Ax-Fisher (3.20) A 60s 40* 40 40* BabcockAW a2.85 275a 131 130 ISO* Baldw L bd rts(d) 90 2* 2* 2* Barium Stain Stl 9 4* 3* 4 Bar lowAS(A 11.20 lOOi 18* 18* 18* Rellanca Aircraft. 8 6 6* 6 Benson & Hedges. 7 4* 4* 4* BerkeyAGay F Co 20 2* 2* 2* BerkAGF pur war 17 1* 1* 1* Bickfords Inc 1.20 7 14* 14 14* Bliss Co (E W) .. 4 19* 18* 18* Blue Ridge CalOe 14 • * 3 3 Blue Ridge cv pf 3 1 46* 46* 46* Blumenthal S 2 36 86 36 Bowman-Blltmore 1 2*4 2* 2* Bowmn-Bllt 1st pf260« 34 30 30 Brazil TUP 40c . 8 18* 18 18* Bridgep t Mch al. 2 17* 17* 17* Brill Corp (A 1_ 1 6* «* 6* | Brill Corp (B)_ 2 2* 2* 2* i Brill Corp pf 50. 53* 63* 63* j Brit Ce’.an Ltd res 8 2* 2* 2* Bower R B 112*) 1 So fO 80 i Brown Co pf 100. 42 41* 41* | Brown F A W al5t 8 13 12* 13 I Brown Forman . 15 9* 9 9* Buff NAEpf 1.60 2 24* 24* 24* j Buff Nlag&E 1st 5 50. 106 106 106 I Bunker HAS (t2> 250. lot* 99 99 1 Cable El Prod vtc. 8 1* 1* 1* Cable* Wire(A). 2 111 Table* Wlre(B) 1 * * * I Can H vdr E 1st pf 190. 74 73 73 VyOII iUHl Will •* • • • Capital City P 60c 1 144 144 144 Can Indus A Ico A. 6 74 74 74 Carlb Syndicate 41 24 24 24 Carnation Co (1).. 1 32 82 32 Carrier Corp ._. 27 304 30 304 Casco Products __ 4 324 324 324 Catlln Corn ia(0c) 12 94 *4 84 Celluloid Corp 1 104 104 104 Celluloid Corp pf 60. 89 39 39 Celluloid 1st pf {8 10i 96 96 96 Cen Hud G&E 80c 1 184 I84 I84 Cent Ohio Stlal.lt 2 19!* 19 19 Cen P&L pf 3.06'4 1C0» *7 86 86 Cent & S W I'tll 6 4 34 3*. Cent States Elec 80 14 14 14 Cent St El cv pf 50. 234 234 2*4 Cent St El cv pf n 225. 19 184 184 Cent St El 6% pf 276. 194 1» 19 Cent St El 7% pf 160. 44 44 44 Centrif Pipe t40c 17 64 54 64 Charls Corp<14 ) 1 154 154 154 Chesebrough <14) 60. 110 110 110 Childs Co pf _ 50. 80 79 80 Cities Service .. 234 44 44 44 Cities Service pf.. 22 57 554 56 Cities Svc pf B 8 54 54 64 Cities Svc pf(BB) 10. 64 54 54 Cit Svc P&L 17 pf 60* 374 764 734 Cltv Auto S< t60c) 8 13** 134 *34 Claude Neon Lts.. 2 4 4 4 Clev Tractor _6 10 9;§ 94 Club Aluminum_ 6 2 2 2 Cockshutt rlow .. 1 114 H4 114 Colon Dev 6% pf.. 3 34 34 34 Colon Dev Ltd .. 3 <4 3 «4 Colo Fuel&lr war 10 17** 174 174 Colt s F F A 11 *4 4 54’* 6.14 634 Colum G&E pf(o 1 876. 874 85 85 Columb O&Ga'.’ftc 4« 94 94 94 ! Co'wlth Dist alOc 1 1*4 14 14 i Com'wlth Ed (t4) 2 117 1164 1164 Com with * S war 120 4 4 4 Com’u'ty P&I. 1st 26. 81 61 61 Community W S_ 8 14 14 14 Cons Aircraft_ II 23!* 23 2»4 Consol Copper 77 9 84 84 Cons Oas(Bo)3.60 1 874 *74 874 Cons MlnSSm tl 26 . 804 80'* 80'* Consol Retail St re 6 9 84 84 Cons Roval (20cl 13 3* 3 Cont’l G&E pr pf 7 60 * 984 1*8 * 984 Cont i Roll & S Fy 2 174 174 174 Cooper Bessemer. 6 314 31. 814 Coop-B pf A a50c_. 1 62 62 62 Cord Corp 37 44 44 «4 Cosden Oil Me (d) 63 3 4 3 4 34 Cosdent Melpf (d) 4 38 4 37 38 4 Creole Pet <a50c) 61 38!. 884 384 Crocker-Wh alOc. 6 124 124 124 Croft Brewing v£ 4 4 4 Crown Cent P a6c IS 2 14 2 Crown Drug (40c) 6 44 44 44 Crown Drug pf 14 26. 23** 234 234 Crystal Oil Ref_ 6 *4 2 2 Cuneo Press (2)_ 2 60 50 60 Cusi Mex Mining. 63 4 4 4 Darby Petr <50c)_ #0 174 17 174 Dayton Rubber_ 1 l«4 194 194 Derby OH A Ref _ I 64 64 64 Dejay Stores t80c. 1 154 164 154 Detroit Gasket tl. • 164 164 164 Det Gas pf (1.20). 1 19 19 19 Det Gray ir t20c— 1 134 184 1*4 Det Stl Prod alH. 11 67 534 *7 Dohler Die C (al). Z 1164 864 364 Domtn SAC <B> t 12 114 114 DouglaslW L)pf„ 60» 824 *74 824 Dow Them (2.40). 1181 181 111 DubelierCondens. 16 84 84 84 Duval Tex S a50c 3 7 *4 7 Eagle Pitch d a60c 31 224 204 204 East’n G&F Asso 8 64 64 64 East’n GAF of(*> 350 * 58 674 *74 East G&F ppf 44 76 * 674 *74 *74 East'n Malle Ir 2 25a 274 274 274 East'n States Pwr 10 64 6 6 East'n St Pw (B>_ 1 70 70 70 EasyWMBtSOc. 2 12 114 114 Eisler Elec (a5c). 8 84 84 84 Eleo Bond A Share 234 214 204 204 Elec B A S pf (5). C 714 71 71 Elec BAS pf«|) 8 794 78 78 Elg Nat Watch a2 200a 89 89 89 El Pwr Assoc a25c 1 10 10 10 El Pwr As(A)a25c 6 74 74 74 Elec PAL opt war 8 12 114 114 Elec PAL 2d pf A 80a 764 764 764 Elec Shareholding 1 64 64 64 Elec Sh pf ww (6) 100 * 964 964 964 Emp G&F 6% pf . 26a 804 *04 *04 Emp G&F 7% pf .. 100* *64 **4 664 Emp G&F 8% p* 760a 724 71 72 Emsco Derrick tl 7 184 18 18 Equity Corp(a26c) 67 24 24 24 Europ'n El bd rts. 19 4 4 4 Evans Wall Lead 7 14 1 14 Evans Wall L pf 200a 224 21 21 Ex-C-O A&T t*0c 11 194 194 194 Fairchild Av al5c. 1 *4 *4 <4 Falstaff Br (al 4) 1 84 84 84 Fanny F C<t50c). 4 L24 214 88 Fanstael Uetal_ 1 18 IS 18 Fldelto Brewery .9444 First N 3 latpf 7. SOs 112 111 ill Fisk Rubber ... 81 IS 114 114 Fisk Rub pf (•).. 18*i 7* 7* 7* FlaP* Lot_ISO* *1 <04 <1 Ford Ltd alSl-lOo 11 8 74 74 Ford (Can) A (1). 1» 28 814 214 Fox (P) Brew 80e 1 104 104 104 Franklin Ray a<0e 1 94 94 94 Froedt’t cy pf 1.80 800. 184 184 1*4 Gen Alleys 8 84 8 84 Gen El Ltd a*<He 8 23 28 83 Gen Invest Corp 26 14 14 14 Gen Rayon Ltd A 2 14 14 14 Gen Tele C’p al 21 8 21 204 204 GenTelcvpf (3). 1 80 *0 so Gen Tiro A Rub... SI MM 104 SOM *r r Stock and Sales— Dividend Rate Add 00. Rich. Low. Close. Gan TAR pf A («) 21«s 100 100 100 Georgia Pw pf (0) 26s 04 04 04 Gllb’t<AC)a«2%c- 2 9*4 014 9*4 Glen AldenC (tl) 22 18*4 18J4 1814 Godchaux (A) all 60s 4014 40 4014 Godchaux Sug(B) 4 20 28*4 28*4 Goldfield Conaol_ 1 14 14 14 Gorham (A) 1 6*4 **4 8*4 Gorham pf ww ... liOs 86 8414 8414 Gorham vtc ex(l) 8 27*4 28*4 27*4 Grand Nat) Films 22 8*4 814 4*4 Gray Tel P 8(1) 14 10*4 18*4 19 Grt AAP T n v t8 200s 114*4 112*4 11214 Grt AAPT lot pf 7 60s 126*4 128*4 1*6*4 Grt Nor Pap (U)-lOUs 88 88 S8 Greenfield T A D_. 1 8*4 8*4 8>* Groc Store Prod.. 8 4*4 8*4 6*4 Guardian invest.. 1 H *i . H Gulf OH Pa new... 63 68*4 67 67 Hall Lamp (80c).. 1 6'4 6*4 6*4 Haloid Co (tl) .. 2 28*4 21*4 23*4 Hartman Tobacco 1 1*4 IH 1*4 Harvard Brewery. 8 2J4 2*4 2*4 HatCorp(B) ... 1 H 14 14 Hazeltlne (a2%).. 1 16*4 1614 16*4 Hecla Min <a60c). 8 18*4 18*4 18*4 Helena Rubenat’n S 1*4 1*4 1*4 Hevden Ch «12 >_ 1 88*4 89*4 *9*4 Hires <C E)A(2).. 60. 40*4 40*4 40*4 Hollineer G t65e 8 18>i 18*4 18*4 Holt&Co ptA a20c 1 8*4 8*4 8*4 Horn & Hardt (2) 200. 39 89 39 Horn & Hardt pf 6 10. 109 109 109 Hudson BM&S (1) 24 13*4 33*4 83*4 Humble OH (tl) . 9 79*4 79 79. Huvler’s(PelHd) 7 1 *4 1 Huvl pf stpd (d) 360. 16*4 16*4 18*4 Hydro Klee Secur. 1 8*4 8*4 8*4 Hvsrade Food 6 6*4 6*4 6*4 111 P A L 6% pf 100. 67 66V* 66*4 111 Pwr* Lt 16 pf 700. 64*4 63*4 64*4 Imp Oil Ltd t50c 8 20*4 20*4 20*4 Ind’n Ter III O(A) 1 8*4 8*4 8*4 Ind’n Ter III O(B) 2 8*4 8*4 8*4 Indiana PL (7400 1 7*4 7*4 7*4 Indus Fin vtc 6 1*4 1*4 1*4 Iron Firemen<71) 100. 23*4 *3*4 23*4 Ins Co of No A t2* 200. 76 74*4 76 Inti Hy El S cv pf 6 83 82*4 82*4 Inti Petr I71H) . * 34*4 34 34 Inti Products 2 7*4 7 7 Inti Safety Ha* B. 1 U4 1(4 1*4 lntl Util (A) _ 1 14*4 14*4 14*6 Inti Util (B) . 12 1*4 1*4 1*4 Inti Vitamin(50c) 13 7 6*4 6»| Interst Ho M 72*4 2 86 36 36 Interst P< Del)pf 60. 20 20 Irvins AlrCh (1). 3 16*4 16 16 Ital Superpwr(A). 2 *4 *4 *4 Jerobst FL)Co(l 1 1 14*4 14(4 14'4 JersCen PAL pf 6 10. 98*4 91*4 93*4 Jonas A Naum ... 3 8 7*4 7*4 KansGAEpf (7). 20. 114*4 114*4 114(4 Ken RTAL A a"5c 1 21*4 21*4 21*4 Kingsbury Brew * 2*4 * 2 Kingston Prod 40o 16 7*4 7*4 7*4 Klrhv Petr (200 17 6*4 6*4 6*4 Kirkland L G (6c) 5 % *4 % Koppers pf <8) 60. 106 106 106 Kreuper Brew (1) 1 18'* 18'4 18*4 Lake Sh M (t4) .. 9 68 67V* 674 Lakey Fy & Mach. 3 64 64 64 Lefcourt Realty 2 34 34 34 Leh CoalAN a60c- 10 94 94 94 Leonard Oil _ 6 1 % 1 Lion Oil Ref (1).. 19 144 144 144 Locke Stl Ch 80c 2 13‘* 134 134 Lockheed Aircraft 13 104 10 104 Lone Star G a60c 33 114 104 104 Long island Ltg 10 64 54 64 Lone 1st Lt pf B ( 100a 78 78 78 La l^nd (40c) ... 65 14 184 14 LuckvT(tl2c) .. 6 14 14 14 Lynch Corp (t2).. S 884 884 384 McCord Kad(B) . « 104 104 104 McWilliams D (t2 6 834 224 33 Mangel Stores 15 84 8 84 Mangel Sto cr pf-- 80« 82 78 81 Marion Steam Sh 6 17'* 17 17 Masonite Corp(tl) 1 6I4 614 614 Maas Util Associa 9 3 3 3 Massey Harris_ 10 74 74 74 Mead John (t3) .. 2 121 120 121 Mem Nil Uii'iOc) 10 64 64 64 Merritt Chan AS 3 74 7 7 Merritt C A S pf A 76a 59'* 674 674 Mesabl Iron 63 \ 4 4 Metal TexileMOc) 2 64 6 6 Mex-Ohio Oil ... 8 24 24 24 Mtch Bumper C_ 10 84 8 3 j Mich Gas A OH_ 13 8 3 Mid Sla Pet 1 A)._ 1 5>* 64 64 Mid Sta Pet (B) . 2 14 14 14 Mid-WAbras 110c 1 34 34 34 MldldOcvpf tlli 100a 9 9 9 Midvale Co <a5) . 25a 72 72 72 MinlngCo (Can) 10 84 34 34 Minn MinAMf(tl) 25a 424 424 424 Miss Riv F pf (6) 10a 115 115 116 Moh H PAL lst(7)226a l"24 >014 >014 Mohawk H 2d pf 30i>a 116 1144 115 Molvbdenum Corp 17 94 9 94 Monroe 1. S(A)32c 5 34 ?4 84 Montana Dak Util 9 20.4 18 Is Mont Ward A (7) 6"> 151 149 149 Montr HLtftP 1H 1 334 384 334 Mondv's pt pf (3) 60a 86 86 36 I Moore C Ltd a1.C5 100a 43 43 43 Moore Dist (t5UC> 7 64 64 64 Mount Prod (60c) 19 64 6 64 Mueller Brass tl 3 43** 434' 434 1 Nat Aulo Fib fl 4 2 34 33 33 Nai Bells Hess 31 3 24 24 ; Nat Contain s50c. 1 12 12 12 Nat Fuel Gas 11). 6 18 174 174' Nat Gyps A a2H.. 1 624 624 62ft ! Nat Investors _ 10 3'* 3 3 Nat Invest war... 1 "V % % Nat Leather . 6 14 14 141 Nat Mfg & Stores 1 8», 8«,' 8**1 Nat OH Prod t60c 1 334 334 334 Nat Rub Meh a20c 11 134 124 13 Nat Service .. 8444 Nat Service pf 4 4 34 34 Nat Suear N J (2) 13 254 26 26 Nat Tea pf (S5c) 250a 94 94 94 Nat Transit (75c) 1 104 1*4 I04 Nat Union Radio.. 3 14 14- >4 Nebe! (Oscar)_ 8 14 1)6 14 Nehl Cort> — 3 41 394 8«4 Nilsner Br pf (7). 26» 1134 1134 1134 Nestle-Le Mur . 4 14 14 14! New Brad O alOc 8 4*. 44 4*4 NJZlnc<t2 ) 660* 814 814 814 New M&A Ld ale 2 44 44 44 Newmont M a3% 16 126 122 126 N Y Shinbldg ... 1 84 *4 84 N y Steam ... 450* 184 174 174 N Y Tel pf (64) 26( 11541164 1164 Nlag Hud Pw a40e 69 174 164 17 Nlag H P( A) war 16 4 4 4 Nlag S Md B a6Cc. 4 184 IS IS Nlptsslng (a50e) S 24 24 24 Noma Elec <a40c) 24 11 104 104 North Am L&P 9 4 84 34 North AmL&P pf 60. 664 654 654 N A Rayon A tlV4 2 864 854 354 No Cen Tex O al5c 5 64 64 64 North'n Europ Oil 7444 North States P A 9 8*4 344 344 North’st Em al 4 1 26 26 26 Novadsl Ar (2 ) 2 264 864 364 Ohio Brass B (tl) loo* 444 444 444 Ohio Edla pf (6) 60. 1074 1074 1074 Ohio Oil cu pf (6) 2 1094 1094 1094 Ohio Pwr pf (6) . 70.112 112 112 Okla Nat Gas Co. 7 124 124 124 Okla Nat Gas pf.. 200. 82 814 814 Oldetym# Distil 6 64 64 64 PacG&E 1st (14) 4 8I4 804 304 Pac Public Servlet 7 84 84 84 Pac PSlstpf al4 1 234 234 234 Pac Tin epee < 12 > 400. 44 44 44 Pan-Am Air (tl)-. 3 694 694' 694 Pan tepee Oil _ 146 9 4 9 94 Param’t Motors... 3 6 44 6 Pennroad (a25c).. 69 44 44 44 Penn G&E (A)14 2 164 164 164 Penn P & L (6)_ 60. 1094 1094 1094 Penn P & L (7) 20. 1104 1104 1104 Pepperell Mfg(t«)350. 142 1264 1404 PhilaCo(l)- 1 144 144 144 Phillips Pkg a50c. 1 184 134 184 Phoenix 8ecur 16 64 64 64 Phoenix S pf A(8) 1 884 *84 884 Pie Bakeries tl.60 8 214 214 214 Pines Wlntfrt(n) 1 84 84 84 rion r um uia auo za Pitney Bow(t40c) 4 8* 8 8* Plttsbgh Forging IT 18* 18 18 PittsALEta*..170e 88* 87* 88* Pitt* PI G1 <•«)—. 8 117 115*115* Pleas Val Wins— 1111 Potrsro Suaar 11 4* 4 4* PowdrellAAl t60c 1 11* 11* 11* Pwr CptCan >a25s 15a It* 18* 18* Premier Gold tl2e 13 4* 8* 4* Producers Royal.. *0 * * * Propper-McC td). 6 * * * Prosperity B al * 1 14* 14* 14* Prudential Inv (ll 28 11 11* 11* Pub Svc Ind pf . 170> 81 81* 81* Pub Ut Sec pr pf 100e 8* 8* 8* »uKSd PAL pf(S) 175a 85* 84 85 «UK Sd PAL 88 pf 17ta 48* 46* 46* Quaker Oats (74) 86a 118 118*118* Quaker Oata pf( 6) 10s 148 148 148 Ry A Lt See al.SB Ilia 11* 11* H* RwyAUtll lnv(A) 1111 Rainbow Lum (A) 1 * * * Rainbow Lum (B) 6 * * * Raymond Con a50<200a 18 18* 18 Raytheon Ufg vte 14 8* 4 Red Bank 7 10 8* 10 Reed R B new t*0« 1 83 88 83 Reeves (Dan) lOe. 8 7* 7* 7* Kelter-Foster .18 * * * Reybara Co a25e_ 1 i* i* 4* Reynolds invest.. 10 1* 8* 8* RieeStlx DG biOo. • UK UK UK '\ V IN IRM CREDIT Higher Bank Loan Trend Draws Attention to Con trol Powers. Bjr the Associated Press. NEW YORK. December 28.—Busi ness appetite for credit has revived so fast since last Summer the rising bank loan trend promises to draw a lot of attention in the new year from Wall Street and Washington. Some Wall Streeters, In fact, see credit expansion and its control as likely to become the major topic of nnancial Interest for 1937. Tliey take their cue partly from recent Wash ington moves to tighten the credit brakes. Including the plan announced by the Treasury last week to keep new gold acquisitions from entering the banking system and becoming part of the already huge base for potential loan Increase. Regarded a* Precaution, Washington's action so far has been regarded in financial circles as pre cautionary handling of the brakes in preparation for more drastic applica tion in event the credit machinery attains dangerous speed. 8ince dune so-called "other” loans of reporting member banks of the Federal Reserve System In leading cities have expanded more than $650,000,000. the biggest upturn since the downward spiral of credit and price deflation got started after the 1929 stock market crash. These loans, covering borrowing outside the categories of security, real estate and trade paper loans, generally are followed in banking quarters as the best indicator of business demand for credit. Security Loans Lag. In contrast, there has been little expansion in bank loans against se curities despite the further rise of share and bond prices this year. Brokers attribute this in part to the lid the Reserve Board has put on loans for security speculation, with margin requirements raised early in the year to make the cash ante 55 per cent of the market price of a stock. "Other” loans now are more than $800,000,000 ahead of the comparable figure last year. Talk of need for credit expansion as a vehicle of busi ness recovery has been yielding to discussion of controlling the rising loan trend to prevent another un stable boom. Stock and Sales— Dividend Rate Add 00 Hlch. Low Clone. Richm d Radiator. 2 64 54 64 Roosevelt Field ... l *4 84 34 Root Petrolmll).. 16 144 1* 13 Root Pcv pf 1.20_. 8 18 18 18 Rossla Inti Corp .14 4 *6 Royal Typewriter 2 874 864 864 Rustless Ir&Stl .. 19 134 134 134 1 St Anthony Gold ..1 4 4 H St Lawrence Corp * 7 *4 7 St Regia Paper 33 »4 9 k Savoy 011 6 44 4 4 Schiff (The )Co(t3) 4 894 89 39 Schulte H Etd 1 4 4 4% Scovill Mfg<a2>») 150s 47 464 47 Scrant S B Wat pf 60s 76 75 76 Secur Corp Gen 5 34 34 84 Seeman Bros t2 4. 1 48 48 48 Segal Lock & H 6 24 24 *4 Selberllng Rubber 14 8 84 64 Selected Indus 17 84 "4 84 Sel lrd all cfs 64 360a 984 974 98 Sel Ind pr pf <5 4 ) 300 e 974 97 97 Sent Saf Control 14 4 4 Seversky Aircraft 8 44 44 44 Seton Lealh a5Uc. 2 104 94 94 Shattuck Den Min 21 184 174 174 Shawin W 4P 80c 8 26 26 26 Sherwin- Will «4> 26<>» 1874 1374 1874 Shrev-El Dor P&L 2444 Smith Cor v ext tl * 2»4 284 284 SonotoneC taioc) 2 14 14 14 So Pfnn OillTl 4 1 6 434 424 <34 SoCal Ed pt pf 1 4 40s 89‘s 394 394 Soulh'n Colo P A 2 44 44 4*s Southn P L 20c . 2 64 6 6 Sou Royalty t40c_ 18 »4 94 94 Southwest P L(2) 60s 44 44 44 Spam.sh&Gen ri te 1 H 4 H Spen Chain St 60c 1 94 94 94 Square D pf A 2.20300s 374 37 874 Stand Dr cv pf 60s 16 15 15 Std Oil Ky (tl.40) 3 194 194 194 Stand Oil Ohio Tl. 14 384 ®74 374 Stand Pwr & Lt .. 16 64 44 44 Stand P&L tB) 11 44 44 44 Stand Prod <a25c) 2 23 224 224 Stand Sll&Ld 140 12 4 4 4 Starrett Corp vtc t6 74 74 74 Sterchi Bros a3Uc 1 94 94 94 Sterling Br a75c 2 64 64 64 Sterling Ineianc) 7 44 44 44 Stetson(JB) 50c . 26s 214 214 214 StinnesiHugo) d.. 1 24 24 24 Stutz Motor . 2 24 24 24 Sunray Oil (alOc) 29 44 44 44 Sunr'y O cu pf 24 1 45 45 45 Sunshine Min (3) 39 2<>4 20 20.4 Swiss-Am Elec pf 60s 98 98 98 Taggart Corp 19 12 114 114 TalCOttJ pt pf 2 4 100a 674 674 674 Tastyeastt Del 1A. 1 14 14 14 Tavlor Dlst <30c). 8*44 Technicolor a50e. 44 204 20 20 Tech Hughes t40e 6 6!i 64 64 Texon Oil A L «0o. 7 6 8 6 Tilo Roof itoOc) . 7 124 124 124 Tob Prod Exp 16c. S 34 34 34 Tonopah Min a6c. 4 14 14 14 Tr-Lux DPS t20c. 11 44 4 4 Tublza Chatilllon. 14 184 164 164 TublzeChatl (A). 1 614 614 614 rung-Sol Lamp n 29 1*4 94 94 Tung-SLpf (80c) 4 114 114 114 Twin-Coach al.40 14 184 18 18 Ulen A Co 74 % pf lo 84 8 s Unexcelled Mfg 4 84 84 84 Un GasCan a224o 8 174 174 174 Unit Chemical_ 4 8 74 74 Unit Corp war__ 1 14 14 14 Unit Gaa Corp_ <6 10 94 94 Unit Gas C war 22 24 24 24 UaltGaspfC3 4) 2 1194 1194 1194 Unit LtA Pw (A). 91 8 74 74 Unit LtA Pw (B), 6 84 84 84 Unit Lt A Pw pf 16 834 <24 824 Unit Milk P (a24: 26a 81 81 31 Unit Prof Sh alOc 8 14 14 14 Unit Shipyda B .. 4 24 24 24 Unit Shoe M t*H. 60e 91 91 91 U S Finishing .. 4 14 14 14 U S Foil (B) (1)__ 18 184 164 164 US Lines pf_ 4 24 24 >4 U S Radiator_ 18 8 8 U S Radiator pf .. 100a 864 *64 *64 U S Rub Reclaim- 8 8 74 74 Unit Stores etc — 21 % 4 4 Unit Verde Ex (1) 14 84 84 24 Unit Wall Paper 11 44 44 44 UtahPALpf 22.91% 200a 884 88 664 Utilities Pw A Lt. 67 14 14 14 Util PwrALt (Bl. 6 84 * * Util Pwr A Lt pf. 400a 284 *14 *14 Utility Equities... 2 44 *4 *4 Util Alnd (new).. 6 14 14 14 Utility A Indus pf. 16 44 44 44 Venezuela Max O. t 7k 7k 7k Venezuela Petrol- 29 lk lk lk Waco Aircraft_ * «k «k «k Wait A Bond <B)_ 4 2 lk lk Walker Mlnms .. 4 m 2k 2k Wayne Pump (50e S S4k 88k Sik Well’t’n Oil of Del. 2 10k 10k 10k Wentw tU Mf 1.20 1 26k 2«k 26k W Va Coal A Coke 2 4k 4 4 Westn AirKx a25c 1 Sk 2k 8k Weat Au Sup A 74 800. TO 70 TO Weatn Cart pf (6) 2ti 101k 101k 101k Weat'nMdpf (17) 10a 98 98 98 WlllOU-O-MatOo 6 10 8k Sk WU-low pafe pf— 4 8 Tk Tk Wllaon Jtm alk — 1 46 48 48 Wolverine T 7400. 4 12k 12k 12k Woodley Pat 740c. 6 8H 8k 8k Wrlaht Hare 740o 88 7k 7k Tk Tgetn «tl Door Tl 2 89 88k 88k Tukon Gold(alSe) IS 8 8 * NEW YORK STOCK EXCHANGE (Continued from Fourteenth Page.) 8:16 am. Prev. 1936 Stock and Seles- Met ■leh Low Dividend Rate. Add 60. Rich. Lew Oltue. due. 49* 28* Van Raalte «a4*). 19 41 40* 40*-* 116 110* VanRal letpf (7). 200* 116 116 116 48* 40 Vick Cheat lt>)_ 8 42* 42 42 8* 4 Va-Car Chemical... 8 7* 7* 7* - * 68* 28* Va-Car Cham 6% pf 8 66* 64 64* -1* 114*109 VaEl-* Pwrpf (6) 140a 113* 118 118 -* 13* 4 Va Iron CoalftCoke. 30a 12 11* 11*-* 86 70 Vulcan Detin (al)_. 80a 76 76 75 - * 4* 2* Wabaab (d>_ 2 2* 2* 2*-* 10* 6 Wabaab pf a (d)_ 6 8* 8 8 - •* 19 9* Waldorf Spa tl.39.. 5 18* 16 16* - * 118 114 Walaraan pf (6*)_ 60a 116 114*114*+* 49* 26* Walker (H) <81 .. 7 48* 47* 47* — * 20 17* Walker <H> pf (1). 2 19* 19* 19* - * 12* 8* Walworth Co ..... 19 11* 11* 11*-* 62 10* Ward Baking ▲_ 2 47* 46 46 -1* 7* 2* Ward Bakins B_ 89 7* 7* 7* + * 18* 9* Warner Brea Plot™ 114 17* 16* 16* - * 2* * Warner-Uuln (d)_17 1* 1* 1* - * 12* 4* Warren Broa ... 10 11* 10* 10* — * 38* 15* Warren Bros cw pf. 1 33* 38* 83*+ * 86* 21 Warren PdyftPm) 24 37* 86* 87 + * 89* 19* Waukesha Mot tl). 4 87* 36* 86* -1* 11* 6* Webster Etsenlohr. 2 8* 8* 8* - * 62 38* Wasson OMI t69e) 11 61* 49* 49*-1* 102 87 WeatPa Blaepf (8) 120s 96 95 95 -1 110 96 Weet Pa Blao pf (7) 20. 104* 104 104 -1* 116*111* WeatPa Pwrpf (4) 80s 114* 114 114 - * 124*116* WeatPa Pwrpf (7) 80s 121 120 121 12* 8* Western Maryland. 7 8* 8* 8* - * 9* 5* Western Pactfle pf. 8 6* 6* 6* — * 96* 72* Waat’B Union (a2). 26 80S 78* 78* -1 1:11pm. Pm. 1930 Ptoek .nd Seles— Nat ®xh. Low. Dividend Rate. Add 00. High. Lew. Oloaa. Chge 49% 34% Wesfb ae A Bal%. 86 48% 47% 47%-% 163% 94% Wssth'as El <a6%). 4 146% 143 148%-2% 160 123% Wsatb’s lat pf *5% 60a 162 152 162 33% 22% Waat'n El lost a86e 2 26 24% 25 — % 82 19% Wsstvaeo Chlor (1) 2 26 24% 24% 4- % 39% 21% Wheeling Steal- 3 37 86 86 - % 28% 13% White Motor - 11 24% 24 24 - % 17% 13% Whits RkM 8(1.40) 2 16% 15% 16%-% 6% 3% White Sawing Meh- 17 6% 6 6 - % 43 16 Whlto Sdw Meh pf.. 2 38 36% 36% -1% 6% 2% Wl’eox OU*Uaa _ 2 4% 4% 4% + % 11 6% Wilson * CO <60u>. 16 8% 8% 8% - % 87 70 Wilson A Co pf (6). 1 77 77 77 -2 71 44% Woolworth <3.401.. 64 63% 61% 62 -1% 86% 23% Worthington Pump 2 34% 34 34 — % 86% 66 Worth Pump PT A.. 60s 82% 81% 81% — % 140% 62% Wright Aero (ml) — 60s 120 119 120 43 79 63 Wrlfloy W Ir <»*).. 3 7% 72% 72'% - M 61 33% Tala A Towns t60e. 1 50 60 60 23% 8% Yellow Tr A Coach 134 23% 22% 22%-% 163% 83% Tallow TrAC pf 335 x630s 130 127% 127% 44% 66 42% Young 8pr#W Itlt 2 44% 44 44 -1 87% 41% Youngs’tn bhestAT 22 78% 77% 77% - % 42% 11% Zenith Radio _ 9 84% 82% 83 -1 9% 6% Zonlta Products 26 7% 7% 7% — % Approximate Salas of Stacks an Um H. X. Stock Bxebaaga. 11:00 A.M._1 490.000 12:90 Nooa._ 850,000 1:0# P M- 1.000.000 3:00 P.M_1 320.000 Dividend rates aa slven in tna above .able are the annual cash narmenta basso on the latest ouarterlx or half-xearir declarations. ■ Or,it of tradina leas than 100 snarss. t Annua) rare—not including extras t Accumulated dividends, a Paid this rear o Paid laet vear d Comnantea reoorted In recelverahle or brink renrtanised. x Bx dividend. STEEL RATE STAYS! AT STEADY LEVEL Iron and Steel Institute Finds Operations Unchanged at 77 Per Cent. Be the Associated Press. NEW YORK, December 28.—Opera tions In the steel Industry tor the cur rent week were unchanged at 77.0 per cent of capacity, the American Iron St Steel Institute estimated today. A month ago operations averaged 75.9 per cent of capacity, while a year ago the rate was 46 7 per cent. A spokesman for the institute ex plained that, while the operating per centage was unchanged from the be ginning of the previous week, the actual volume of steel to be turned out by the industry In the current period will be greater. The preceding period was a five-day week, allowing for the Christmas holi day. New Year day is not a holiday in the mills, so present operations will extend for six days. CHICAGO GRAIN Bs the Associated Press. CHICAGO, December 28.—Ti.. wheat market plunged down at time, almost 6 cents under earlier tope to day. Chicago December wheat rose «' one stage to *1.43 a bushel befor profit-taking set in. A laggard trend of prices at Winnipeg, where new ex port business appeared to be lack ing, had considerable bearish effect here. At the close wheat was lVia*** un der Saturday's finish; December, 137'«a\i; May, 1.35 Ua%; corn, Ta off to up; December, 1 .()•>«a■/2; May, new, 1.057gal.06; oats, *,al*a down, and provisions showing 15 to 40 cents bulge. 1VHEAT— Open. High Low. Close Dec. -1.411, 1.43 1.371, 1. May ... 1.36'a 1.37*, 1.35', 1.35',- . JUCORN—19'’ 1211/4 118’y 1.18H-** Dec. -l.in'i i n*, i on", i.nn'4-’a May. new..1.116*, 1.071, l.o5*, l.OS’a-OO May. old._1.05'a 1.06 1 o4*« 1 04’« July. new..1.04 1.04', 1 .o2'a 1.02’.-«'3 July, old 1.02'a 1.02'a 1.00*. l.OOTa-t 1 OATS— Dec. -.5.3 .53',a .51'a .Sl'i-.V May ... .52 .52', .51', .51',-', July . . _ ,45’a .40'., .451, .45U SOY BEANS— May -1.56'a 1.56>, 1.55 1.55 JURYE—- -153’4 Dec .1.20*4 1.21 'a 1.1R 119'i May . ..l.lh', l.lf)*, 116 1.16'a July . Ill*, 1.12 109 1.091,-*, BARLEY— Dec. - .. .... _ .94 May -,84»i _,84»i LARD— Dec._ 14 00 14.05 13.90 13 97 Jan -_ 14.02 14 05 13.97 14.no Mar. 14.15 14.25 14.15 14.20 May_ 14.40 14.50 14 35 14.50 July 14 55 14.62 14.50 14.55-37 BELLIES— Dec._ 16.07 16.25 16.07 16.25 Jan._ 16 60 16.80 16.50 16.50 Chicago Cash Wheat. Cash wheat. No. 1 hard, 1.42Vi-44'i: No. 2 hard. 1.44: No. 2 mixed. 1.41. Corn. No. 5 mixed. 99-1 00: No. 2 yel low’, 1.11; No. 3 yellow, 1 08-094; No. 4 yellow. 1.014-064: No. 3 white, 1.08'i-lOU; No. 4 white. 1.074-10. Oats. No. 1 white. 544-55Vi: No. 2 white. 54-544: No. 3 white, 53; No. 4 white. 51. Rye. No. 1. 1.30-304. Soy beans. No. 2 yellow, 1.554; No. 3 yel low. 1.544: sample grade. 1.454. Barley, feed. 68-90 nom.; malting, 1.00-40 nom.; Timothy seed, 5.85-6.10 ewt.: new, 5.60-85 cwt.; clover seed* 24.50-31.50 cwt. Baltimore Quotation*. BALTIMORE December 7R —Wheat. No 5. red Winter, garlicky, spot, domestic. 1.444: December. 1.444. -• ■■■« ■ —. ■ FREIGHT LOADINGS. NEW YORK. December 7R CSV—Revenue freight rarloadlnga of railroads repoiting , for week ended December 76 induced: Week Previous Last Dec. 76. week year. ! Baltimore A Ohio 47.4fln 51.104 "O.TcR FIRST TRUST LOANS Long-term REFINANCING . . Lowest Rotes . . . 3-Year Con struction Loans . . . 5% sy2% BOSS fir PHELPS MORTGAGE CO Loan Correspondent John Hancock Mutual Life Ins Co 141? K St NW NA 8300 MONEY TO LOAN ON REAL ESTATE at 5% Monthly Payments if Preferred Our Real Estate Officers Invite You to Confer The WASHINGTON LOAN AND TRUST COMPANY Member FEDERAL RESERVE SYSTEM FEDERAL DEPOSIT INSURANCE CORF'S STAPLES ADVANCE ON BROAD FRONT Sugar Futures at New Peak Since 1928—Hides, Silk and Grains Climb. Bj the Associated Press. NEW YORK. December 28 —Com modities surged upward In a broad price advance today, with raw sugar futures selling at the peak since April, 1928. and hides, raw silk, crude rubber, rye. wheat, barley and oat* at the best level* in years. Fears of adverse development* in Europe and heavy buying abroad stim ulated the upward movement. In the Liverpool Grain Exchange wheat futures touched the topmost figure since 1928. and in both Chicago and Winnipeg all grains were at their best since early in 1929. Crude rubber future* advanced 1.25 1.31 cent* a pound to above 23 cents and raw sugar future* were above 3 cents a pound, a price not reached even in the boom year of 1929. Silk future* were quoted above <2 a pound for the first time since November, 1935. Cocoa made a new eight-year high, with the price above 11.71 cent* a pound. The buying movement spread to cotton, with gains of 0.15 of a cent a pound in the price for some futures. A heavy foreign demand was noted, with buying orders coming from all directions. Trade advices said excitement , marked the opening of the London Rubber Exchange when the staple reached a price of 11 pence a pound, the highest in seven years. Speculative purchases abroad were held largely re sponsible for the present bull nwrket. Export copper sold at 11.82', cents a pound, the highest since early in i 1930. and domestic copper futures I moved up from 0.05 of a cent to 0.09 of a cent a pound. The red metal was 1 bought in quantity abroad, partly, traders said, on the strength of arma ment requirement*. CLEARING HOUSE ISSUES REPORT AT NEW YORK By the Associated Press. NEW YORK, December 28.—The weekly statement of the New York Clearing House shows; Total surplus and undivided profits, S836, 531,800 (unchanged); total net demand deposits (average), decreased $51,323,000: time deposits (average). Increased $1,489,000; clearings, week ending today (X), $3,923,168,160; clearings week ending December 19 $5 633,229.283. (x)—Five days. Washington Exchange SALES—AFTER CALL. Capital Transit Co.—2 at 13. Bid and Asked Prices. BONDS. PUBLIC UTILITY Amer. Tel. & Tel. 4'-a»__ ]*?>?% Asked. Anacostia dr Pot. 5s__ 75 79" Ana. dr Pot. Guar. 5s__ inn C AP Tel. of Va. 5s_105% Camtal Traction R. R. 5>-. 92% ~~ ' City dr Suburban 5s_._ 85 89 Georgetown Gas 1st 5s_171 Pot. Elec. Pow. 3%s_ 104% Wash. Gas 5s 1958__107% 108" Wash. Gas 5s lOrtO_175 Wash. Rwy. dr Elec. 4s_106% I_I MISCELLANEOUS. Chevy Chase Club 6'is __ 197 _ _ Col. Country Club 5%s _ _ 105 W. M Cold Btoraae 5s_100 STOCKS. PUBLIC UTILITY Amer. Tel. A Tel. (P)_M8S*4 _ Capttal Transit Co_ ... 13 14 N. A W. Steamboat ret)_102 _ Pot. Elec. Pow. <\rr pfd. (8) 110*4 _ . Pp. El. Po Rl*% of. *5.S0). 112 _ Wash. Oaa Lt. Co. (3.001 T. 77 81 Wash. Ry. A El. com. (38). 728 _ Wash. Ry. A El. pfd. (5)_110 _ BANK AND TRUST COMPANIES. Amer. Sec. A Tr. Co. (8e) 280 290 Bank of Brtheada <76h) . 31 _ Capital (4a) .... *130 Com. A Savings (6a) _*200 _ Liberty (3)_125 Lincoln (6.25f> . . *200 Natl. Sav. A Tr. 130 150 Prince Georges B.AT. (.60) 17*4 20 Riggs (8) 316 Riggs pfd (5b) _101 Washington (6) .. 128 132 Wash. Loan A Tr. (8)_ 250 300 FIRE INSURANCE STOCKS. American (6) _100 Corcoran (5) 100 _ Firemen's (1.60) *42 National Union (.60)_ *16 _II TITLE INSURANCE STOCKS. Columbia (.30) _ 12'A li Real Estate (6) _ 165 _ MISCELLANEOUS STOCKS. Carpel Corp. (2.00) _ 25*4 27 Lanston Monotype (4)_ 87 SO Mercenthaler Linotype (I) 5.3 56 Peoples Dr. S. com. (l.OOt) 40 52 Peoples Drug 8. pfd. (6.60) 110*4 Real Es. M AO. pfd. (••.70). 6*4 644 Security Storage (6> 118 Ter. Ref. A Wh. Corp. (3) 59 'll Wdwd. A Loth, com (l.SOt) *71 90 Wdwd. A Loth. pfd. (7)_*120 _ *—Ex dividend, t—Plus extras. «—60e paid May 15. 1938. 50c paid Auauat 15. 1936. 60c paid November 16. a——4% extra, b—Books dosed, e—2J4 extra, f—1 v5% extra, b—75c extra. December**!^4 && 8°’ 1#88: 46* FOREIGN EXCHANGES. 1»*W YORK December 38 UP).—Foreign exchange steady: Great Britain in dollar* others In cents. Great Britain demand. 401 A: cables. 401/.: 60-day Mils. SoSS*. n-ance. demand. 4.97 cable*. 4.97A. Italy, demand. 5.28ft; cables. 5.36ft. . Demands—Belgium. 16.88: Germany, free. 40.24; registered. 10.76: travel. 31.00: Holland. 64.76: Norway. 24.60: Sweden. 25.34: Denmark. 2105: Finland. 2.17; Switierland. 22.00: Bonin unquoted; Por tugal 4.46ft: Greece. 00ft: Poland. 18.04: Czechoslovakia. 3.60ft; Yugoslavia. 2.34; Austria. 18.73n: Hungary. 10.80. Rumania. i2*J. Argentina. x 32.78n: Brail). 8780V4; Tort Seaboard Revenue In November at $3,453,654 Level bpaclal Dispatch to Tha Star. NORFOLK, December 28.—Total operating revenues of the Seaboard Air Line Railway for the month of November, 1936, will amount to $3,453,654, an increase of $600,848. or j 21 per cent, over the same month of , last year, and gross income available for interest and charges will amount! to $534,885.79, as compared with $60, 338.19 for November, 1935, or an in crease of $474,547.60. The gross income for November is before deduction of taxes under the railroad retirement act, which are es timated to amount to approximately $57,500 per month. It is estimated that the gross in come for December will exceed the gross for November. -- ■ INVESTING COMPANIES NEW YORK December 2s i*v—(New York Security Dealers' Association): iNoon Quotations.) . . Bid. Asked. Admin Fd 2nd Inc_jo in 2<> 3" Am Business 8hrs _ 1.20 1 38 Am Gen Eo Inc _ 1 12 1.25 Am Ins Slocks __ 5 on 5 75 Baneamer Blair _In.025 11.'so Bank Group Shrs 1 72 I SH Bankers Nat Inv Corp 4 125 4 75 Bank Group Shrs .1.72 1 8fi Bankers Nat Inv Corp_ 4.125 4 75 Basic Industry _ _ g.,32 Broad St Inv __ 34 m 37 34 Bullock Fund __ 22 *5 "4 00 Corporate Trust _ 3.10 Corporate Trust A A _ 2 99 Corp Tr A A mod _ 3.75 Corp Tr Accum Ser_ 2 99 Corp Tr Acc Mod 3 75 Cumulative Tr Sh H 53 “ Depos Bk Sh N Y "A”:... 2.34 Depos Ins 8hrs "A" 3 80 Depos Ins 8hrs "B". _ 3 57 Piversifled Tr C_ 5.JO “ 7 Dividend Shrs _ _ 1 99 * j4~ Equity Corp $3 pf.. 40.75 4X75 Fidelity Fund Inc_ 28.47 30 87 First Boston Corp- 42.00 43.50 Fixed Trust Sh A _ 13.85 Fixed Trust Sh B II 25 Found Tr Sh A _ 5.30 5 HO Fund Investor! Inc_£4 84 "«"4 Fund Tr Shrs A _ 8.57 *7 '*5 Fund Tr Shrs B _ 8 02 Gen Investors Tr__ 7.09 7 71 Group Sec Agriculture __ 1.7s 1 !o:t Group Sec Automobile_ 1.47 1.00 Group Sec Building ._ 2.15 **33 Group Sec Chemical_ _ 1.84 178 Group Sec Food __ 1.95 1 15 Group Sec Invest Shrs __ 1.58 1.72 Group Sec Merchandise 147 180 Group 8ec Mining .. _ 1.70 1.94 Group Sec Petroleum_ 1.48 1.59 Group Sec R R Eoulp_ 1.82 1.7S Group 8ec Steel _ ] .77 1.92 Group Sec Tobacco 1.18 1.27 Huron Holding . __ 1.13 140 Incorp Investors £5.48 £7.40 Insursnce Group Shrs .. 1.78 1.90 Investors Fd *'C" Inc_15.81 15.93 Investors Fd C Inc. new._ 15.58 15 88 Keyston Cust Fund B-3 _ 24.94 27.29 Major Shrs Corp__ 3.26 _. Maryland Fund _ _ 10.07 11.01 Mass Invest Tr __ 28.72 30.47 Mutual Invest _18.8.3 18 17 Nation Wide 8ec __ 4.74 4.84 Nation Wide Voting_ 2.07 2.23 N Y Bk Tr Shrs _ _ 3.825 __ North Am Bond Tr ctls 8 4.375 88.025 Nor Am Tr Shares_. 2.00 _ Nor Am Tr 8h 1055 _ .3.78 _ Nor Am Tr Sh 1058 _ 3 71 _ Nor Am Tr Sh 1958._ .. 3.73 ... Pbmouth Fund Inc _ 9H 1.07 Quarterly Income Sh__ 18 78 20.57 Selected Am Sh _ 4 19 .... Selected Am Sh Inc_•5.30 10.87 Selected Cumul Sh_10.84 — — Selected Income Sh __ 5 57 Selected Indus cv of__ _ 27.26 28.75 Spencer 1'rask Fund _ 22 2.3 22.92 Stand Am Tr Shra _ 4.35 4.no Stand Util Inc_ 00 1.07 Super of Am Tr A.. _ 4 21 - Super of Am Tr AA .. 2.80 . Super of Am Tr B._ - 4.41 . . Super of Am Tr BB_ 2.89 - Super of Am Tr C___ 8.30 -- Super of Am Tr D_ - 8.30 Supervised Shrs 14.42 15.88 Trustee 8tand Inv C_ .3.24 — Trustee Stand Inv D- 3.1 < ... Trusteed Am Bk "B"- ..JO 1-JO Trusteed Industry Shrs 1.53 1..0 Wellington Fund _ 20.26 22.18 SHORT-TERM SECURITIES. (Reported by Ch»s. D. Barney * Co.) Btd. Offer. Amer T * T 54s M3 ... 113 113*. Atlantic Refining 5s '3<-. 1024 10.4 | Calif Packing Corp 5s MO 1044 105 Caro. Clinchfleld A O 5s '38 1054 100 Chesapeake It Ohio 5s '39 1094 1094 Chicago Gas L A Coke 5s '37 1024 Cumberland T A T 6s '37 994 1014 Delaware A Hudson 54s '37 1004 Duluth A Iron Range As '37 103 1034 Edison El Illuminat’d 4s '39 1074 10.4 Gen Public Service 54s '39 1024 -- -- Grand Rapids A Ind 44s Ml 111 Houston Oil 54s '40 102 1024 International T A T 44s'39 80% 814 Laclede Gas Light 5s '39 984 99V. Lake Erie It Western 5 '37 102 1024 Lehigh Valley Coal H» '38 994 ion Long Island Gen 4s '38 1034 1044 Louisville A Nashville 6s'37 1014 104 Michigan Central 4s MO 1054 Morris A Co 4 4s '39 103 1054 N Y. Chicago A St L 4s '37 102V. 103 New York Dock 5s '38 534 «44 N Y Susqueh'a A West Bs'37 934 944 Pacific R R of Mo 4s '38 . 1024 -- . Pacific T A T 5s '37 . 100 1004 Penn-Dlxle Cement «s Ml. 99 994 Pennsylvania R R 4s M3 1104 115V. Rio Grande Western 4s '39 79V. 804 Southern Bell T A T As Ml ins 1084 Sou Pac RR of Calif 5s '37- 1034 . Vanadium Corp 6s Ml_ 97 4 98 Wabash Railway 5s ’39_ 1034 103% Warner Bros fts *39 __ __ 99 V. 99 4 Western N Y A Pa 5s '37 . 99’. loo»4 Weytern Union Tel 6s '38- 1044 1044 PHILADELPHIA PRODUCE. PHILADELPHIA. December 38 UP).— Live poultry, fowl. Plymouth Rocks, fancy, 3Sa24; mixed colors, fancy, heavy. 22a23; ordinary. 18al9: White Leghorns, fancy, 18al7: ordinary. 14al5: statgy young rooatrrt. 16al7: old roosters, 13al4: pul lets. fancy. Plymouth Rocks. 24a26: Reds. 22a23: roasting chickens, fancy. 6 pounds or over. 22a23; Reds. 21022: broilers. 2Vi pounds and under, fancy. 24a26; Sprint ers, Plymouth Rocks, fancy yellow-meat ed. 21: ordinary to fair. 18a20: cross bred Rocks. 17alP; Red Springers, good duality. ina20: ordinary. 18al8; Spring chickens, mixed colors. 17al8. Turkeys, fancy young hens. 2na32: fancy young toms. lAaI7: old toms. it. Ducks, white Pekin, fancy, yount. 18: old. ltalfi: mixed colors. 14alA: Muscovy ducks, white. lBal6: colored. 13al4. Dressed poultry, turkeys. Northwestern. 21 a23 Vi; Western. 22a23: Southwestern. 21 Vaa22: nearby. 22a24; old hens. 20a21; old toms. 19a21. Fowl, fresh-killed, in boxes. 15a22. as to weight; chickens, in boxes. 18a23: stags. Western 1 lal7V5>: old roosters, dry-picked. 14al8; capons. Western. 22a29V4, as to sise. Ducks. Western. 16al8 Butter, top grades. 36*»a3PVi; »2 score. 3Aa3SVi; 91. 34 Vi: 90. 34; 89. 33V4; 88. 33 V«. METAL MARKET. NEW YORK. December 28 OPV—dopper firm; electrolytic, spot end future, 11.8244; export, 11.80-86. Tin steadier; spot and nearby. 62.25-37\4: future. 62.10-20. Lead steady; spot. Hew York. 8.do-8.06: East St. Louis, 6.86. Zinc firm: fast St Louis, spot. 6.46: future. 6.66. Iron quiet. No. 2. f.o.b. Eastern Pennsylvania, 21.60; Buf falo. 20.60; Alabama. 16.60. Aluminum. 10.00-22.00. Antimony. __ spot. 13.26. Quicksilver. P3.OO-06.OO. Platinum. 48.00. wolframite. 16.00al6.60. MONEY MARKET. HEW YORK. December 28 utV—Call money steady: 1 per cent all day: prime commercial paper. 41 per cent: time loans steady: 80 days to 8 months. 1Y« per cent offered: banker;’ acceptances uncharted: 30 days. A to 41: 80 to 00 days. A to 44; 4 months. V« to A: 6 to 8 months. 44 to A. Rediscount rata. Hew York Reserve Bank. 144 per cent, I Packers Paid Farmers Near ly $1,000,000 More a Day, Institute Reports. By the Associsted^reu. CHICAGO, December 28.—The meat-packing industry paid nearly $1,000,000 more per day for the farm ers’ live stock in 1936 than in 1935, William Whitfield Woods, president of the Institute of American Meat Pack ers. reported. The total paid for lhe stock was estimated by the institute at approxi mately $1,820,000,000. compared with $1,477,000,000 in 1935. An improved domestic demand for meat and a substantially increased supply of live stock were the factors which made this increased payment possible. Woods said. current prices or many meat prod ucts, both wholesale and retail, are lower than a year ago as a result of the increased supply, he said. Declines in wholesale prices of bet ter known pork cuts range from 7 to 21 per cent in the case of fresh pork loins, shoulders, butts and spare ribs. and from 10 to 21 per cent for smoked hams and bacon. Representa tive grades of fresh beef and veal are from 3 to 9 per cent lower and lamb is 17 to 24- per cent down. Woods said consumption of meat and lard per capita apparently rose from approximately 129 pounds in 1935 to 141 pounds In 1936. He said the amount of meat im ported into the country in 1936 prob ably came closer to balancing the amount exported than at any time in history. Imports totaled approximate ly 138.000,000 pounds, compared with 97.000.000 in 1935. Exports were ap proximately 195.000.000 pounds, com pared with 200,000.000 last year. FEDERAL LAND BANKS NEW YORK. December 28.—Federal Land Bank bonds: .. Bid. Asked. 4'.s November. 1058-38_106’. 107'. 4V<* May 1857-3: _ 101'* 101*. 4'.a January 1857-37_ _ Inn 1005a 4a May. 1858-38 104s. 105 4* November. 1857-37 _]n3V. 103*1 4.« July. 1846-44_112'j 113 3'4S May. 1855-45 _ 105».t 105H 3s July 1855-45 _ 103*, 103’» 3s January. 1856-46 _10:i*« 103’. 3a May. 1856-46 103s. 103’. CHICAGO LIVE STOCK. CHICAGO December ?S OPi (United Spates Department of Agriculture!.—Hogs. 25.000. including 10.000 direct: active: 15*25 higher than Thursday’s average: top. 10.H5 new 10-year high for December: bulk good and choice 170-300 pounds. 10.40a«0: sows around 10 higher; mostly 9.05aio.oo. Cattle. 13.000; calves. 2.000; steers snd yearlings steady but slow: weighty steers in broadest demand: prospects steady to weak following last Thursday’s sharp advance on all grades; top 13.00: best yearlings. 12.75: 1.400-1.500 pounds, choice steers. 12.00*50: common and medium grades. 7.00*9.50: stockers .scarce, strong: ahe stock strong to 25 higher, very scarce, best fed heifers. 11.oo: choice kinds ab sent: runaway market on bulls: fully 25 higher: instances more: weighty bulls sell- 1 ing actively up to rt.oo and better: vealers scarce steady at P.OOain.oo on light offer ings: shippers kind,* selling up to 11.oo. Sheep. fl.OOO including 1.500 direct: fat lambs opening very slow, indications around steady with sellers asking unevenly higher: early bids on good to choice offer ings around 9.00*25: numerous loads con fidently held above P.35 with P.50 and better uked for strictly choice handv welrhts. sheep about study: scattered na tive ewes. 3.50(4.50. U. S. TREASURY POSITION. By the Associated Press. The position of the Tressury on De cember 23; Receipts, $109 355.270 20; expenditures. $65,095,040.35; balance. $1,925,530,353.74: .customs receipts for the month. $30,858,600.04. Receipts for the fiscal year (since July 1>. $2,110,810,895.22: expenditures. $3. 421.038.583.51. Includlns $1,349,254. 740.52 of emeraency expenditures: excess of expenditures. $1,310,227.088 29: xross debt. $34,358,553,793.91. sn increase of $57,726,343.50 orer the previous day; told assets. $11,229,474,737.25. EXTRA PAY RECEIVED. NEW HAVEN. Conn.. December 28 OP).—'The National Folding Box Co. announced that it had presented one week's extra pay to each of Its 1,000 employes. Money for Coni traction Loans and Loans on Improved Properties 51/2% VIBST DEED OF TBUST OUT GEORGE LBORGER 643 Indiana At*. N.W. Nat’l 0350 LOANS ON IMPROVED D. C. PROPERTY Immediate attention on your ap plication for buying, rebuilding or refinancing. Loans payable monthly. . No charge for appraisal if loan is not made. Interest charged only on unpaid balance of principal. Equitable Co-operative Building Association 915 F STREET N.W. Orfaniaed 1171