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* Federal Bonds Gain But Other Groups Remain Narrow _ Switching in U. S. Issues Reported as Financing , Date Nears Bond Averages 20 10 10 10 Ralls, indust Util P’tn Net change unc. unc. —.1 +.2 Today, close 58.2 98.4 92.6 63.7 Prev. day „ 58.2 98.4 92.7 63.5 Month ago. 60.3 98.7 93.8 65.0 Year ago... 73.7 96.9 92.7 65.2 1938 high 70.5 100.3 95 1 67.0 1938 low 46.2 93 0 85.8 59.0 1937 high 99 0 104 4 102.8 74.7 1937 low 70.3 95.5 90.3 642 1932 low 45.8 40.0 64 6 422 1928 high 101.1 93 9 102.9 100.5 Ten Low-Yield Bonds. Today ... 110.3 Prev1. day. 110.3 M'nth ago 110.3 Year ago 107.7 1938 high 110.4 1938 low 106.7 1937 high 113 7 1937 low 107.0 1928 high 104.4 1932 low 86.8 r , (ComDlled b* tt»e Associated Pres*.) By the Associated Press. NEW YORK, Dec. 3.—Government bonds stepped ahead smartly today while other sections of the market clung to a narrow trading range. Federal bond dealers said there wras considerable switching going on in the Government section to adjust portfolios to individual require ments for the December 15 Treasury financing, details of which were an nounced by Secretary Morgenthau yesterday. As in the preceding session, prin - cipal activity was concentrated in the longer term issues. Treasury 3'.ss of 1952 had advanced 9-32 of a point at the start of the final hour of trading and the 2’is of 1952 were 6- 32 higher. The 27ss of 1960 were 7- 32 up but the turnover here was light. There was little interest in the Government guaranteed loans, such as Home Owners and Federal | farm issues. Domestic bonds, fractions to a point higher, included Chesapeake & Ohio 412S, Anaconda Copper 4V2S, * Southern Railway 4s and Utilities Power & Light 5s. Slightly behind were Northern Pacific 4s. Shell Union 3>2s, Com monwealth Edison 3'i.s and Colum bia Gas 5s. Foreign dollar loans were quiet ‘ except for a flurry of trading in Italian government 7s which dipped more than a point. -»—-——— I - New York Cotton By tne Associated Press. NEW YORK. Dec. 3— Cotton futures opened active. 2 to 6 lower. Weak Liverpool cables were partly offset by trade and commission house buying which absorbed liqui dation and hedge selling. Decem ber, 8.53: January. 8.32; March,8.25; May, 8.04; July, 7.80; October, 7.50. The decline was extended to net losses of 10 to 13 points and to levels about $1.50 to $3 a bale under the November highs on tired long liquida tion for domestic and foreign ac count. A little more resistance de veloped through trade buying as March eased from 8.25 to 8.17. Shortly after the firsf# half hour March sold at 8.19 and the list was 8 to 11 points net low h. Futures closed 14-19 loWr. Open. High. Low. Last. Dec. -8.53 8.53 8.38 8.38-39 Jan. - 8.32 8.32 8.16 8.16 March _ 8.25 8.25 8.13 8.14-15 May _ 8.64 8.05 7.93 7 93-94 July _ 7.89 7.82 7.79 7.70-71 Oct. 7.50 7.51 7.38 7.39 Spot, nominal; middling. 8.59. Cottonseed Oil. Bleachable cottonseed oil futures closed unchanged to 5 lower. Sales. 51 con tracts. December. 7.37b; January. 7 45; March. 7.61b; May. 7.66; July, 7.74-76. b—Bid. --• Insurance Stocks Hit New High in Month Special Dispatch to the Star. NEW YORK, Dec. 3.—Insurance stocks in the New York City market reached a new 1938 high during No vember, according to Hoit, Rose & Troster. Weighted average of 20 issues rose from 50.43 on November 1 to the new high of 51.69 on November 12, bringing total advance since the September lows to 6 points, or 13 per cent. Former 1938 high was 51.49, reached August 6. After declining to month's low of 49.82 on November 29, the list closed November 30 some what better at 50.25. Calculated on closing bid prices, the average ranged for the month as follows: New 1938 Month's High Low . _ Nov. 12. Nov. 29. Aetna Cas & Surety __ . 107 108 Aetna (Fire) ___ 47% 451/, Aetna Life _ 25% 24% Continental Casualty _ 34 V« 34% Firemen's (Newark 1 _ 10 n Franklin Fire 27% 27% Great American Insurance 25% 24 Halifax . 24% 23% Hanover _ _ 31% 29% Hartford Fire _ 77% 75% Hartford Steam Boiler_ 54 52 Home Insurance _ 31 28% National Fire _ 63% *2% National Liberty _ 8% 7% Paul Revere _ 23 23 Phoenix __ 82% 79% Providence Washington_ 33% 33 % Travelers _ 463 445 V S. Fire _ 54% 51% Westchester Fire _ 32% 31% Weighted average_ 61.68 49.8? ^Lynchburg Shoe Firm Gets New Charter By the Associated Press. LYNCHBURG. Va„ Dec. 3.—Crad dock-Terry, the largest Industry In Lynchburg, moved a step nearer Its objective, the reorganization of its capital structure, when State Cor poration Commission yesterday granted the shoe manufacturing concern a new charter. Under a provision of the charter, the concern will be known as Crad dock-Terry Shoe Corp. of Lynch burg, instead of Craddock-Terry Co., Inc., its official designation for many years. Also the charter provides for the Issuance of nearly $3,500,000 in pre ferred stock and 50,000 shares of common stock without par value. According to the plan of reorgan ization submitted last August 1 and subsequently approved by 80 per cent of the stockholders, as required, the new corporation will issue the preferred and common stock to the old company in consideration of the company's turning over to the cor poration all of its assets, tangible p and intangible. Rubber Futures . NEW YORK. Dec. 3 (/Pi —Crude rubber futures closed 4-7 lower. Sales No. 1 standard. 30 contracts. December. 16.85b: March. 15.80; May 15.80b. Smoked ribbed snot. 15 87n. b—Bid. n—Nominal. <» r BONDS ON N. Y. STOCK EXCHANGE I ay irnrn wire atrtai M na mi Appreiimats Transact ism Today. Domestic Bond* .... S 690.000 Foreign Bonds ...... 660.000 U S Govt Bonds _ 220.000 TREASURY. High. Low. Clue. 21(81948 . 105 4 106.8 108.8 SH> 1949-61_ 102.10 102.7 102 10 244* 1950-58 ... 10211 1028 102.11 2Hs 1951-64 ... 108.26 108.26 103.26 294s 1958-69 ... 108. 102 80 102.80 2948.1966-63 .. 102.9 102.9 102.9 244 s 1965-60 104 6 104 8 104.6 2T4e 1956-60 rg . 104.2 104.2 104.2 8s 1961-65 . 106.25 106 24 106 25 344s 1946-49_ 109. 109. 109 344s 1949-62_ 108.22 108.22 108.22 3 44* 1943-45_ 109.26 109.26 109.26 3 44* 1944-46 . 109 26 109 26 109 26 394* 40-43 Juns 106.11 105.11 105 11 4s 1944-64 114.7 114.7 114.7 HOME OWNERS' LOAN **48 1939-49 102.18 102.18 02.13 3s 1944-5*. 106 20 106 20 106 20 FOREIGN BONDS High Low Close. Antioqula 7s 45 A'._ 814 814 814 Antlnqula 7s 45 B_ 814 8(4 8H Antioqula 7a 45 C_ 814 814 8V4 Antioqula 7s 45 D _ 814 814 814 Argentine 4s 73 Feb 801* 80 801* Argentine 4s 72 Apr 79*4 79*4 7994 Argentine 4 l*s 71 .. 8714 87 ’87 Australia 4Ha 56._.l 99’* 99*t S9K Australia 5s 55_ 10314 1089* 1039* Australia 6s 57_ 103*4 103*4 10394 Austrian 7s 67_... 23 23 23 Belgium 7a 55 115 115 115 Brasil 6l*s 26-27_ 9*4 91* 99* Brazil 7s 52 99* 914 914 Brazil 8s 41 12H 121* 121* Brisbane 6s 67_ 99’* 99’* 991* Budapest 8s 62 _ 12*4 12V< 1214 Buen Aires 3s 84 ___ 3914 8914 3914 B A 414S-414S 76 A*._ 54>4 5414 5414 B A 49*s-59*s 76 Ap.. 6414 5414 5414 Canada 2'4s 45_ 103 103 103 Canada 3a 67 _ 98*4 98*4 98*4 Canada 3 >4 *61_ 103*4 103*4 103*4 Canada 4s 60_110*4 110*4 110*4 Canada 5s 52-110V, 110*4 110*4 Chile 6s 60 - 16V* 1614 16*4 Chile 6s 61 Jan_ 16*4 16*4 16*4 Chile 6s 61 Feb 16*4 1614 16V4 Chile 6s 61 Feb assd . 14*4 14*4 14*4 Chile 6s 63 I614 1614 1614 Chile 7* 42 16V* 16V* 16V, Chile Mtg B 6s 61 asd. 12*4 12*4 12*4 Chile Mtg Bk 6s 62 ._ 14*4 14*4 14*4 Chilean Mun B 7s 60.. 13*4 13*4 13*4 Colombia 6s 61 Jan ... 1914 18*4 1914 Colombia 6s 61 Oct... 19V, 18*4 1914 Col Mtg Bk 7s 47 ... 25*4 25*4 25*4 Copenhagen 4 *4s53__. 95*4 95*4 9514 Cordoba 7s 57 stpd... 5714 57*4 5714 Cordoba 7s 42 prv_ 77 77 77 Cuba 4*4s 77 - 60*4 60*4 80*4 Cuba 5s 1904-44- 10714 10714 10714 Cuba 5*4s 53 -101 101 101 Denmark 4*4* 6*- 99 98*4 98*4 Denmark 6s 42 .. 104*4 104*4 104*4 Dominic 1st 5 *4s 42 _. 6414 6414 6414 Dominic 5 *4s 61 ext . _ 67 67 67 French Gov 7*4 s 41— 109*4 10914 10914 Ger Govt 5 *4s 65 ... 24 23*4 24 German Govt 7s 49 ... 28 27*4 28 Ger Gov 7s 49 un st— 25*4 25*4 25*4 Grt C El Jap 7s 44 ... 79*4 79*4 79*4 Greek G 6s 68 pt pd 21V* 21*4 21*4 Hungary 4*4s 79 ext. 36*4 36*4 36*4 Italy 7s 51 79*4 76*4 76*4 Hal Crd P W 7s 47 B_. 78 76 76 Ital P U Crd 7s 62_ 5814 6714 5714 Japan 5*4s 65 - 66 66 66 Japan 6*4s 54_ 85 84*4 85 Bombard Elec 7s 52 _ 6714 67*4 67*4 Medellin 6%s 54 .. 8% 8% 8% Met Water 5%s 60... 101% 101% 101% Mex 4s 10-45 asst_ 1 1 1 Milan 6%s 62 _ 61 59% 59% Nord Rv 6%s 50- 101% 101% 101% Norway 6s 43 _105% 105% 105% Norway 6s 44 - 105% 105% 105% Oriental Dev 6s 63 . 56% 56% 56% Paris Orl Ry 5%s 68 94% 94% 94% Pernambuco 7s 47_ 5% 5% 5% Peru 6s 60 - 9% 9% 9% Peru 6s 61 - 9% 9% 9% Poland 6s 40 - 42% 42li 42% Poland 7s 47 _ 51 51 * 61 Prague Gtr 7 %s 52... 55 55 55 Queensland 6s 47_ 105% 104% 106% Queensland 7s 41_ 104% 104% 104% Rhinelbe Un 7s 46_ 50% 60% 60% Rio de Jan 6%s 53_ 6% 6% 6% Rio de Jan 8s 46 _ 7% 7% 7% Rio Gr do Sul 6s 68... 6% 6% 6% Rio Gr do Sul 7s 66_ 6% 6% 6% Rome 6%s 52 _ 67% 66% 66% Sao Paulo St 7s 40_ 20 20 20 Serbs 8s 62 ... 29% 28% 29% Shln’su E P 6%s 6* ... 64% 64% 64% Taiwan Elec 5%s 71. 52% 52% 52% Tokyo El L.t 6s 53 .. 56% 56% 56% Un Stl Wk 6%s 61 A 49*4 49% 49% Un Stl Wk 6%s 51 C 49% 49% 49% Uruguaycv 3%s79 38% 38% 38% Uru 3%-4-4%s adi 79 39% 39% 39% Urugy 4s-4%s-4%s78 42% 42% 42% Westphal E P 6s 53.. 22 22 22 Yokohama 6s 61 58% 58% 58% DOMESTIC IONDS. Alleg Corp Ss 44 . . 77 76 77 Alleg Corp Ss 40 ... 69Vi 6914 6914 Alleg Corp 5a 50 stp . 38 35 36 Allis Chalmers 4s 62 10914 109 10914 Am & For Pw 6s 2030 58>4 5314 5314 Am Ice cv 5s 53 _ 102 102 102 Am T & T 3 14 s 61_ 10614 106 10514 Am T & T 3 14 s 66_ 10614 10444 10514 Am T & T 614 s 43 ... 11214 11214 11214 Am Wat Wks 6s 76 .. 103 103 103 Anaconda db 414s 60. 10514 10514 10614 Anglo Chil Nit db 67 30 30 30 Armour Del 1st 4s 66 9894 9644 9644 Armour Del 4s 67 97 97 97 A T&S Fe adl 4s 95 st 8814 8814 8814 A T&SF adj4s95 st rg 86 85 86 A T&S Fe gen 4s 96 10494 10414 104V* A T&S Fe CA 414s 62 10514 10514 10514 Atl Coast L clt 4s 62 69 69 69 Atl Coast L 414* 64 6814 6814 6814 AtUantic Befln 3s 53. 10294 10294 10294 B & O 1st 4s 48 _ 49 48% 48% B A O 4%s 60 _ 11% 11% 11% B A O 1st 6s 48_ 49% 49% 49% B AO ref 6s 96_ 17% 17% 17% B AO 5s 96 F ... 17% 17% 17% B AO ref 6s 2000 D 17 17 17 B AO ref 6s 95 ... 18% 17% 18% B A O Swn 5s 50 32% 32% 32% Bang A Ar cv 4s 51 st 102% 102 102 Bell T of Pa 5s 60 C 128Vi 128% 128% Beth Steel 3%s 52 98% 98 98 Beth Stl 3%s 66 100% 100% 100% Beth Steel 4 %s 60 106 106 106 Bos A Me 4%s 61 JJ . 24 23% 24 Bos A Me 5s 66 26% 26% 26% Bos A Me 5s 67 26% 26% 26% Bklyn Ed cn 3 %s 66 107% 107% 107% Bklyn Man T 4 %s 66 76% 76% 76% Bklvn Un Gas 5s 45 107% 107% 107% Bklyn Un G 6s 57 B 96% 96% 96% Buff RAP on 4 %s 57 26 25 25 B C RAN cl 5s 34 6% 6% 6% calif Ore* Pwr 4s 66 94% 94 94 Canadian NR 4%s 51 114% 114% 114% Canad’n P db 4s perp 81 81 81 Canadian Pac 4 %s 46 97% 97% 97% Can Pac 4%s 80 93 93 93 Canadian Pac 6s 44 . 112% 112% 112% Canadian Psc 5s 54 98% 98% 98% Caro Cl AO 6s 62 ... 106% 105% 106% Cent III EAG 6s 61 103% 103% 103% Cent of N J *en 6s 87 23 23 23 Cent Pac 6s 60 54% 64 64% Cham PAL 4% s 35-50 99% 99% 99% Ches A O 3 %s 96 D 96% 95% 96% ChesAOS%s96B . 96% 96% 96% C A O aen 4%s 92 ... 117% 117% 117% Ches AO con 6s 69 .. 101% 101% 101% Chi BAQ 4 %s 77 8 9 88% 88% C BAQ III dlv 8%e 49 97% 97% 97% Chi B&Q ill dv 4s 49 103% 103% 103% Chi & E III 6s 61 . 14% 14% 14% Chi Ort West 4s 69 .. 19 18% 18% Chi Mil & St P 4s 89 - 23% 23% 28% CM&StP 4%s 89 C 24% 24% 24% Chi M&St P 6s 75 9% #% 9% CMStP&P sdj 6s 2000 3 2% 2% Chl&NW Ren 3 %e 87 13% 13% 13% Chi & NW Rn 4s 87... 14% 14% 14% Chi & NW 4%s 49 ... 4% 4% 4% Chl&NW Ren 6s 87 ... 15 16 15 Chl&NW rf 6s 2087_ 9% 9 9% Chi Rl&P rf 4s 84_ 7 7 7 £‘.®r£en 4,88 ' 1M4 15* Chi R 1 & P 4%s 62 A 8 8 8 Chi Rl&P cv 4%s 80 3% 3% 8% Chi TH&S inc 6s 60 . 47% 47% 47% 105% 106% 106% Childs & Co 5s 41 7714 7714 7714 Cin G&E 3 %s 66 108 108 108 Cin Un Term 3%s 71. 108% 108% 108% Cin Un Term 5s 67 C 108% 108% 108% CCC&StL L rf 4%s 77 67% 67% 67% Clev El 111 3% s 65 108% 108% 108% Clev Un Ter 4 %s 77 72% 72% 72% Clev Un Ter 6s 73 . 80% 80 80% Clev Un Ter 5%s73 _ 88% 88% 88% Col O&E 6s 62 May... 95% 95 95 Col Gas & El 6s 61_ 92 92 92 Cornel Cred 3 %s 61_103% 108% 103% Hlgfr. bOf, CWW. Com Ed o* db I Ha IS 105% 106% 106% Com with Bd I %a 5* a 105% 1«5% 106% Com Bd 1st I %a 68 I 106% 106% 106% Corawlth Bd 4a 11 F 108 107% 108 Coho Bd NT I % i 41 106 108 106 Consol Bd db I Ha 41 106% 106% 106% Cons Ed NT IHa 64 105 105 106 Cons Bd NT IHa 61 104% 104% 104% Consol Oil IHa II 102% 102% 102% Consum Pwr IHa 66 107% 107% 107% Consum Pwr 8%s 67 107% 107% 107% Consum Pwr 8 % a II 108% 108% 108% Container deb la 48 99% 99% 99% Cuba RR 1st la 88 .. 88% 88% 88% Del Pw A L, 4%s 19 108% 108% 103% Dal Pwr A Lt 4 Ha 89 106% 106% 106% DelPAL4%s71_ 107 106% 106% Den OAB Bs 61 _106% 106% 106% DenGAESallst .. 106% 106% 106% Den A R O eon 4s 86 11 11 11 Den A ROW Bs 66 ast 4% 4% 4% Dot Bdtaon 4Ha 61 112% 112% 112% B T V A Oa cn 6a 54 82% 82% 82% B1 Paso N O 4%a 81.. 105 106 105 Erls e* 4a 68 A *_ 18% 18% 18% Erie sen 4s 98- 19% 19% 19% Bn* ref 5* 87- 11% 11% 11% Erie ref 6s 75 _ 11% lly^ 11% Fed LtATr 5a 42 at... 110% 100% 100% Fla E T Ry Bs 74 8% 8% 8% Fla E C Ry Ss 74 etfa. 7% 7% 7% Francisco Sur 6s 66 . 51 51 51 Gan Mot Acc 3% a 61 106% 106% 106% Gen Pub Svc 5%a 19 101% 101H 101% Gen Stl Ceat 6%a 49 62 61% 61% Goodrich 4%a 66 . 99% 99% 99% Goodrich 6a 45 . 100 100 100 Goodyear TAR 6a 67 102% 102% 102% Grt Nor Ry 4s 46 G 94 98% 93% Grt Nor Ry 4s 46 H _ 83% 83% 83% Grt N Ry 4%a 76 D . 83% 88% 83% Grt N R an 4%s 77 E 82% 82 82 Grt North'n Ry 6s 73 88 87% 88 Grt N Ry 5%s 62 83% 93 93 Hoe(R)lst tnt(t 44 .. 67% 67% 67% Hud A Man ine 6a 67.. 12% 12 12% Hud A Man rf 6a 67 ... 45% 46% 45% 111 Cent ref 4s 53 _ 48% 48% 48% 111 Cent 4%e 66 . 44% 44% 44% ICCAStL NO 4 %8 6*. 47 47 47 ICCAStL NO 6s 63 . 62 61% 51% 111 Steel deb 4%a 40 . 106% 105% 105% Inland Steel 3%s 61.. 109 109 109 Inter RT 1st rf 6s 68. 67% 67% 67% Inter R T 6s 32_ 45 45 45 Inter R T Te 32 _ 67% 67 67% Inter R T 7s 32 ct . 66% 66% 66% Int Grt Nor 1st 6s 52 17 17 17 Int Hydro EH 8s 44... 75 74% 75 Int Mer Mar 6s 41_ 53% 53% 53% Int Paper 1st Bs 47_ 97 96% 97 Int Papar ref 8s 65... 86 86 86 Int TAT cv 4%s 39... 100 100 100 Int TAT 4%s 62 _ 64% 64 64 Int TAT 5s 65 .. 68% 68 6R Iowa C 1st A rf 4s 61. 4 4 4 Kana City So 3s 50 70 70 70 Kans City So rf 5s 50 6R% 68 68 Kans C Ter 1st 4s 60 107 106% 106% Kings Co Lt 6%s 54 . 105 105 105 Koppers Co 4s 61 101% 101% 101% Kresge Found 3%s 47 100 100 100 Kresge Found 4e 45 104 104 104 Laclede Gas 6s 89 77 77 77 Laclede Gas 5 %s 53 . 48 48 48 Lake SAM S3%e 97 . 87% 87% 87% Leh CAN 4%s 64 C . 54 54 54 LehANE RR 4s 65 A 85% 84% 85% Leh Val Coal 6s 44 ... 90% 90% 90% Leh Val 4s 200* ... 20% 20% 20% Leh V 4s 2003 assd 20 20 20 Leh V 4%s 2003 assd 21% 21% 21% LlggA Myers 7s 44 128% 128% 128% Liquid Carbon 4a 47 108% 108% 108% Long Ial unlf 4a 49 .. 80 80 80 La A Ark 68 69 .. 81 81 81 Loulsv GAE 3%s 98.. 107% 107% 107% LAN unlf 4s 40_ 100 100 100 L A N 4 %s 2003 _ 87% 87% 87% L A N 68 2003 B _ 93 93 93 McKessftRob 6%s 60 103% 103% 103% Manati Sugar 4s 67 . 34 34 34 Man hat Ry 4s 9ft 34% 33% 34 Manhat Ry 4a 9ft ct 32% 32% 32% Manila RR S L 4s 39 101 101 101 Marion St Shor 6s 47 85 85 85 Mead Co 6s 45 104 104 104 Minn ft St L 4s 49 . 2% 2% 2% MStPftSSM cn 4s 3* .. 7 7 7 Mo K&T adits 67_ 14% 14% 14% Mo Pac 4s 76 __ 4% 4% 4% Mo Pac 5s 66 A_ 16% 16% 16% Mo Par 6s 77 F_ 17 16% 16% Mo Pac 5s 7*0_ 16% 16% 16% Mo Pac 5s 80 H_ 16% 16% 16% Mo Pac 5s 811_ 16% 16% 16% Mo Pac 5%s 49 .. 3% 3% 3% Monong Pub S 6s 65 99% 99% 99% Mont pwr 3%s 66 98 98 98 MorrlsftBs 3%s 2000 55% 55% 55% Morris ft Es 4%s 55 48% ' 48% 48% Morris & Es 5s 65 53% 63% 53% Mount StTAT *%s 6* 103% 103% 103% Nassau Elec 4a 51 36 36 36 Nat Dairy 3%s 61 ww 104 103% 104 Nat R M 4%s 26 asst % % % Nat Steal 4s 66 108% 108% 108% New Jer PftL 4%s 60 107% 107% 107% New Orl GNR 6s *3 69% 69% 69'* New Orl P S 5s 62 A 102% 102% 102% New Orl P S 6s 65 B 101% 101% 101% New Orl TAM 6%s 54 34% 34%, 34%. N Y Cent *31 a 46 77% 77% 77% N Y Cent con 4s 9* 66%. 66% 66% N Y Cent rf4%a 2013 54% 54 54 N Y C rf 4%s 2013 n 54 54 54 N Y Cent rf 6s 201* 58% 57% 57% N Y ChlftStL 4 %s 7* 44%, 44% 44% N Y C&StL 5%s 74 A 52 61% 51% N Y ChlftStL 6s 3* 103% 103% 103% N Y Conp 1st 4 %s 63 103% 103% 103% N Y Edis 3%s 65 D 107% 107%, 107%. N Y Edls ref *%s 66 107% 107%, 107%, NY NH ft H 3%s 56 . 12%, 12% 12% NY NH ft H 4s 55 .. 11% 11% 11% NY NH ft H 4%s*T._ 12% 12%, 12% NY NH ft H el 6s 40 _ 22 22 22 NY NH ft H CT 6s 4* 13% 13% 13% N Y Oft W ref 4s 92 6% 6% 6% N Y Tr Rk 6a 66 stp_ 73% 73 73 N Y WAB 4 %■ 46 4 3% 3% Nias Fall* P 3%s 66 109% 109% 109% Niaa L.AO 6s 65 107% 107% 107% Niac Sh 6%s 60 _ 96% 96% 96% Norf Southn 6* 81 15% 15 15% Norf Southn 6s 61 ct. 13% 13% 13% Norf * W 1st 4s 98 _ 119 119 119 North Am Co 6s 61... 105% 105% 105% No Am Ed 6s 67 A_ 105 105 105 No Am Ed 5s 69 C_104% 104% 104% Nor"n Pac 4s 97 82% 82% 82% Nor’n Pac 5s 2047 D . 53% 59% 53% North Pac 6s 2047 60% 60% 60% Nor Sta Pwr 3%s 67 107 106% 107 ORden L C 4s 48 etd 4% 4%* 4% Ohio Edison 4s 65 106% 106 106% Ohio Edison 4s 67 ... 105% 105% 105% Okla GAE 3 % s 66_ 107 107 107 OreR W RR 4s 61 ... 108% 103% 103% Pac G A El 3 %s 66 .. 105 105 105 Pac G A El 4s 64 111% 111% 111% Pac TAT 3 % a 66 C 108% 108% 108% Para Broadway 3s 55 67% 57% 57% Param’t Pie 3 % a 47 82% 82% 82% Parmelee 6s 44 50% 50% 50% Penn Co 3%s 44 E> ... 100% 100% 100% Penn PA L4%sll... 105 104% 105 Penn RR 3%e 62_ 79% 79% 79% Penn RR 3%s 70_ 85% 85% 85% Penn RR 4s 48 . 108% 108% 108% Penn RR 4%s60 ... 114% 114% 114% Penn RR an 4%a 65 . 95 94% 94% Penn RRdb4%s70 82% 82% 82% Penn RR Ren 6s 68 108% 103% 103% Per* Marq 4a 66 62% 62% 62% Phelps Dodge 3%s 62 113% 118% 113% Phlla Elec 3 %s 67 109% 109% 109% Phlla Co 6s 67 97% 96% 96% Phlla R C ft Ir 6e 73 . 13% 13 13 Phlla RCA tr 6s 49 . 4% 4% 4% Philippine Ry 4s 37 12% 11% 11% Phillips Petrol 3s 41 109 109 109 PCCAStL 4%s 77 91% 91% 91% PCCAStL 6s 70 A _ 101% 100% 100% Port Gen El 4%s 60 60 69% 60 Postal Tel ft C 6s 53 14% 13% 14% Pressed Stl Car 6s 51. 82% 82 82 Purity Baking 5s 43 97 97 97 Reading R 4%s 97 A. 71% 71% 71% Rem-R'd 4%* 66 ww 103% 108% 103% Republic SU 6%s 64 108 108 108 Republic 8tl 4 %s 66 94 98% 93% Richfield 011 4s 62 106 106 106 Rio Or Wn 1st 4s 39 40% 40% 40% StL 1MAS RAG 4s 33 60 60 60 St L R MAP 6s 66 ... 60 80 60 StL-San Pr 4a 60 A 10% 10 10% StL-San Fr 4s 60 ct.. 9% 9% 9% St L San Fr 4%s 73 . 9% 9% 9% St L8 F 4%s 73 ct st. 9% 9% 9% St L S Fr 6s 50 B ... 10% 10% 10% StL-8 Fr 6s 60 B ct... 9% 9% 9% St L S W 1st 4s 89_ 52 61% 51% St L8W ret 6s 90 .. 12 11% 12 San AAA Pass 4s 43.. 58 58 58 Santa F* PAP 5s 42 108% 108% 108% Seabd A L 4* 60 stp . 15% 16% 15% Seab’d A L rf 4S 69 .. 6% 6% 6% Seab'd A L adj 6s 49.. 3 3 3 Seab'd A L 6s 46 A .9 8% 9 Seabd A L 6s 46 ct 8% 8 8% Seabd A FI 6s 35 Act 4% 4% 4% Shell Un deb 3 %s 51 104% 104% 104% Simmons Co 4s 62 97% 97% 97% Southn Kraft 4%a 46 91% 91% 91% So Pac 3%s 46 . 60% 60% 60% So Pac ret 4s 65_ 67% 66% 67% So Pae 4%e 61_ 49% 49% 49% So Pac 4%s 69__ 49% 49% 49% | So Pae 4%etl. _ 49% 49 49 So Pae 8 F Ter 4a 80.. 86 M 86 ,, Hlth. Low. Clow. So Pae Oreg 4 % • 77 — 53% 53% 53% So Ry gen 4a SI A_ 54% 54% 64% So Ry Ba 94 - 80 79% 79% So Ry gan (a 61- 66% 66% 66% So Ry 6%a B6 ... 70 69% 69% Sowat Bell T 3a 68 C 102% 102% 102% Stand Oil N J 2% a II 102% 108% 102% Stand Oil NJIM1 104% 104% 104% Studebaker cv It 41.. 80% 80 80 Tenn El Pw Is 47 A.. 94% 94% 94% Texas Corp3%s 61... 106% 106% 106% Term As St L 4s 5S__. 102% 102% 102% Third A v ref 4s 60 ... 42 41% 42 Third A v ad 6s 60 7 6% 6% Tide Wat Oil S%a 52 105% 105% 105% Un EllMolMts 62 . 108% 108% 108% Un Oil Calif 3%s 52.. 109 109 109 Un Oil Calif 6s 42 A.. 115% 115% 116% Un Pacific 3 %s 70 .. 95 95 95 Un Pacific 1st 4s 47.. 111% 111% 111% Un Pac ref 4s 2008 . 106% 105% 106% United Biscuit 6s 60.. 108% 108% 108% United Drug Bs B3 ... 69 69 69 Utd Rys St L 4s 84... 25% 25% 26% U S Steel 3 %s 4* ... 104% 104% 104% Utility P&L. Bs 89 . 67% 67% 57% Utility P& L6%s 47 67% 67% 67% Vanadium 6s 41 100 99% 99% VaElAP3Ha68B— 107 107 107 Va Ry lat 3%a 68 .„ 106% 105% 106% Wabash 4%a 78 C_ 10 10 10 Wabash lat 6a 39_ 43% 43% 43% Wabash ta 76 B- 9% 9% 9% Wabash 5%a 75 ... 10% 10% 10% Walker HAS 4 % a 46 107% 107% 107% Warner Bros cv 6s 39 90% 90% 90% W Pa Pw 1st Bs 63 E 120% 120% 120% W Sh 1st 4a 2361 re— 55 55 65 W Va PAP 4 %s 52 .. 107 107 107 West Md 6 %s 77 .. 87 87 87 West Pae 6a 46 A as— 21 20% 21 West Union 4%b 69 . 67 57 67 West Union 6s 51 .. 66% 66 66% West Union 6s 60 . 58 57 68 Wheel Steel 4%s 68— 94% 94% 94% Wilkes BAE 5a 42_ 4% 4% 4% Wilson A Co 4s 56 . 101% 100% 100% Wia Cent 1st an 4s 49 9% 9% 9% Wla Cent 4s 49 ct ... 8 8 8 Wise SAD T 4s 36—. 5% 5% 6% Wia Pub Svc 4s 61 108 107% 107% Younesto’n SAT 4a 48 106 106 106 Yestwn SAT 4s 61 103% 103% 103% ■-• Treaty Expected to Spur U. S. Lard Exports By the Associated Press. CHICAGO, Dec. 3—The steady upturn in American exports of lard, which has been under way since 1935, is expected to be accelerated by terms of the Anglo-American trade pact, provisions experts said today. % The reciprocal trade agreement was •welcomed in the provisions trade as coming at a very opportune time largely because of the following situation: Increased production of lard in the United States has followed the pattern of greater pork output since the com crop of 1937 was harvested. Domestic consumption and exports also have been expanding. While the increasing supply has been a factor in the decline of lard prices to the lowest point in four years, lower prices have help>ed stimulate consumption and exports. S. A. McMurray, provisions ex pert, said exports to Great Britain, this country's biggest foreign cus tomer, have been increasing since 1936, and with the duty of 10 per cent taken off by that country some further improvement should result. The treaty is effective January 1 and will run three years and there after until either government gives notice of termination. —- ' Argentine Organizes Treaty Committee B> the Associated Press. NEW YORK, Dec. 3.—The Argen tine Information Bureau reported yesterday that Argentina has created ■ a permanent committee of repre sentatives of three ministeries—for eign affairs, finance and agricul ture—to supervise the nation's com mercial treaties and foreign inter ests. The new committee will control all future treaty negotiations and observe whether foreign countries comply strictly with the terms of their trade treaties with the South American nation. This interministerial body will take part in the exploratory con versations with the United States regarding a reciprocal trade agree ment. The Argentine foreign office is sending out to its consular officials an 18-point questionnaire with the intention of increasing the foreign market for Argentine products. Chicago Stock Market CHICAGO. Dec. 8 i/P>.—Following is the complete list of transactions on the Chi cago Stock Exchange today: Bales. STOCKS. High. Low. Close. 26 Allis Ch 45% 45% 45?* 20 Altorfer Bros pf 20% 20% 20% 143 Ame Tel & Tel 148% 147% 148% 300 Armour A Co 5 5 5 100 Asbestos Mfg 1 1 1 50 Athey Truss Wh 4% 4% 4% 400 Bendlx Av 22% 224. 22% 200 Borg-Warner 30% 30% 30% 200 Butler Bros 7% 7% 7% 100 Butler Bros pf 20% 20% 20% 20 Cen 111 Pub Svc pf 08 68 08 50 Cherry-Burrell 15' 15 16 500 Chi Corn . 2 1% 1% 90 Chi Corn of 35% 35 36% 10 Chi Rys V, % V. 60 Chi Rivet A Maeh 7% 7% 7% 30 Chi Towel 70 70 70 05 Chi Yell Cab 0% 9% 9% 235 Chysler Corp ... 79% 78% 787/. 350 Com'wlth Edis . 26% 20% 26% 6200 C’wlth Ed rt wl _ .16 .15 .15 100 Container Corp .. 144< 14% 14% 11 Crane Co ... 30% 36% 30% 6o Dayton Rubber .. 15 16 15 20 Deere At Co_ 19V, 19% 19% 10 Dixie-Vortex _ 12 12 12 100 Eddy Paper _ 10 10 10 100 El Household . 3% 3% 3% 50 Elgin Na Watch . 20 V, 20% 20% 250 Q-n Household % % % 450 Ot Lakes Dredg 20 20 20 200 Harnschfeger . 5% 5V* 5% lflOHuop Mot _ 2% 2% 2% lOOKatt Drug 3% 3% 3% 100 Kingsbury Brew _ % % % 200t,«, Salle Ext .. 2% 2% 2% 200 Mann-Dearborn . _ % % % 78 Marsh Field 11% 11% 11% 100 Mid West Corn OV- 0% O' 400 Mid West Corp war .03 .03 .03 10 Midi Util 77* pi % % % 58 Mont Ward 49 48% 49 On Nat Rep Tnv Pf 1 % 1 Vs 1V* 100 Nor'west Bancorp 0% 0% 0% 100 Penn R R 20 20 20 39 Sears Roeb 72% 71% 72 100 Serrick Corn B .. 2% 2% 2% BOStd Dredg .. 2% 2% 2% 03 Std Oil Ind ... 27% 27% 27% •25 Stewart Warn ... 9% 9% 0% 200 Swift At Co _ 18% 18% 18% lOSwtft Inti _ 27% 27% 27% lOOTrahe Co ... 14 14 14 20 Union Carbide .. 84% 84 84% 50 Util At Ind of ... 1% 1% 1V4 100 Walgreen .17 17 17 20 West Un Tel 23% 22% 23% 10 Westingh ElAtM 114%11J%114% Stock sales today—9.800 shares. Baltimore Stocks Special Dispatch to the Star. Sales. STOCKS. High. Low. Close. 310 Arundel Corp . 10% 10% 10% 110 Balto Transit ofd 1.50 1.50 1.50 30 Consol Pow com 71 71 71 1 Con Pw 5% pfd A 116% 116% 116% 10 Fidelity * Deposit 113% 113% 113% .30 Guilford Rlty Co 1.50 1.50 1.50 200 Mar Tex Oil Co 1.00 1.00' 1.00 50 North Amer Oil 1.00 1.00 1.00 BOND8. $800 Balto Trans 5s A 21% 21% 21% New York Bank Stocks JtBW YORK- Dec. 3 c/P).—Investment Bankers Conference. Inc.: Bid. Asked. Bk of Am NTS (8F) (2.40) 38% 40% Sank of Jlan (1.16e) - 14% 16% ankers Tr (2) _ 42 44 CenTHanr B*lr’of Tr (4)!::: ?9% 82% Chase Nat (1.40) _ 29% 31% Chem Bk of Tr (1.80)_ 41 43 Commercial (8) 140 146 Cont Bk * Tr (.80) _ 11% 13 Corn Ex Bk & T (3). 47% 48% Empire Tr (.80) - 13% 14% First Nat (Bos) (2)_ 37% 39% First NaU (100) 1595 1635 Ouaranty Tr (12)_ 830 235 i&ssFs ;v„, i 1 III till Title O * T_ 8 7 > Demand for Cotton Gray Goods Shows Sharp Decline Some Buying Develops, However, at Slightly Lower Levels ti the Associates Preii. NEW YORK, Dec. 3.—Demand for cotton gray goods slumped to a frac tion of production last week. A little buying, however, developed at prices slightly under what most mills were willing to accept. Some divisions showed a little im provement. Sheetings were a trifle more active, and demand for drills and Osnaburgs picked up as prices showed a forward tendency. Wide industrial fabrics sold in fair amounts. Combed goods markets were quiet at steady prices. Cold weather stimulated demand for many seasonable items in fin ished goods. Percales sold mod erately at steady prices. Heavy sales of woven tickings were reported and a contraseasonal demand ap peared for work clothing fabrics. Sheets and pillowcases were active. Shortages developed in wool blank ets and wash goods were in better demand. Buyers cleaned up available stocks of heavy knitted underwear and also placed spring orders. Sweaters were active. Rayon yams showed more activity while some rayon cloth mills stepped up lining fabric pro duction. More business was written on silk hosiery. Demand for wool fabrics was quieter but mills increased output due to business placed in the last month. Prices quoted in primary markets were: 27-inch 64x60s, 3'4 cents; 3814-inch 64x60s, 41-2 cents; 32-inch 8-ounce tickings, 12 cents; 28-inch 2.20-yard Benims, 10H cents; brown iheetings, standard. 0H cents; staple gingham, 03/« cents. Curb Bonds DOMESTIC BONDS. ' High. Low Close Ala Power 4 Vis 07_ 84 83% 83% Ala Power 5s 51 ... 90 98% 98% Am O & K 6» 2028 .. 108% 108% 108% Am P A L 0s 201tl - 83V. 83V. 83% Am Radlat 4%s 47. _ 105 105 105 Am Seat 0s 40 cv it . 100 100 100 Ark-La Oas 4s 51 . _ 103% lo;tV. 103% Ark P A L 5s 6H _101% 101 101 As El Ind 4Vis 63_ 45% 45V. 45% As G A E 4%s 49_ 20% 29 20 As O A E 6s 50_ 32 31% 31 Vi As G A E 6s 08 _ 30Vi 30% 30V. As O A E 5%s 77 . 42 42 42 As T A T 5Vis 55 A 70 70 70 Atl Gas Lt 4V.s 55 102% 102% 102% Bald Loco #i SO . 98V. 97% 97% Bell Te C 5s 57 B _ 122 .122 122 Blrm El 4%g 08 87 V. 87 V. 87% Blrmlng Gas 6s 59 .71 71 71 Can Nor Pwr 5s 53 103*. 103V, 103% Can Pac 0s 42 - 103% 103% 103*'. Caro Pw A Lt 5s 5R - 97V. 97% 97% Cm II P I 4%s 07 P 102% 102]. 102% Cent I P 8 4 Vis 81 H 102% 102% 102% Central Pw 5s 57 D - 80 85 80 Cent Pw A Lt 5s 66 . 99% 99 99% Cent St El 6Vas 64 .... 30% 30% 30% Chi Rys 5s 27 cod_ 45 44V. 45 Cities Svc 5s 60 . -. 08 08. 08 Cities Service 5s 58 . 68 67% 08 Cities 8 Oas 5’is 42.. 101% 101% 101% Clt S P A L 5%s 62 73% 73 73 Clt 8 P A L 8%s 49 73% 73 73 Commun'ty P A L 5s 57 75 75 76 Com Pb 8v 5s 60 A 100% 100% 100% Cons O Util Os 43 gt*. 00 00 60 Cont O A E 5s 68 A 88% 81% 81% Cudahy Pkg 3Vis 55 . 93V. 92% 92% Det A In B 8%a 62 cd 3% 0% 0% Det Int Bg 7S 52 1 1 1 , Det Int Bg 7s 52 ed % % % East G A P 4s 60 A 63% 63 03. El Pw A Lt 5s 2030 73% 72V. 72*. Emp Dls El 5s 52 99% 09*. 99% Florida P A L 5s 54 05 94 V, 95., Georgia Pw 5s 07... 90% 90*. 96% Georgia PAL 6s 78 _ 03% 03% 03% Glen Alden Cl 4s 05. 71% 71% 71% Grocery 8tr 0s 45_ 54 53% 54 Guard Inv 5s 48 A 40 46 40 Hall (WFl 0s 47 at A 100V. 100% 100% Heller (WE> 4s 46 ww 97 90*a 97 III North Util 5s 57 100% 100% 100% 111 Pw A Lt 6%l 67 .. 89 89 89 111 Pwr A Lt Hs 53 A_102% 102% 102% 111 Pw A L 5Vis 54 B .. 99% 99% 99% 111 Pw A L 5s 50 C 97 90% 96% Indian E C 5s 61 C ... 88 87, 88 Indiana Ser 5s 50 57% 5. Va 5i% Indiana Ser 5s 63 A 5<% Si’a 5<J4 Indianap Gs 5s 62 HR% 08% 08V, Inti Pw Sec 7s 52 r5!) »» .w Interst Pw 5s 57 r>8% 58 o8V, Interst Pw Hs 52 40 40 40 Interst P 8 4'is 5« F 78% 78 78% la-N LAP 5s 57 A 101 100 100 Ital Su Pw Hs 03 A 40 44‘4 40 Jackaon G 5s 42 sto 411‘-4 40% 4o% Jer C PAL 4%s 01 C 105% 105% 105% Kentucky U 5s 09 1 80% 80% 80% L 8 Dist P 3'is 00 A 101 100% 101 Lehigh P 8 6s 2020 A 105% 105% 105% Lone Is Lt Os 45 . 89 89 89 U Pw A Lt 5s 57 100% 100% 106% Memnh PAL 5s 48 A 97V, 90% 97% Metrop Edi* 4s 71 E 107% 107% 107% Midlan VRR 5s 43_ 02 02 02 Minn PAL 4%s 78_ 99 99 99 Minn P A L 5s 55_ 104 104 104 Miss Pow 5s 55 _ 79% 79% 79% Miss Pw A Lt 5s 57 ... 91 91 91 Mont-Ds P 5%s 44... 99 99 00 Nass ft 8u L 5s 45 73 73 73 Nat P A L Os 2020 A 97% 97*1 07% Nevad Cal El 5s 60 82% 82% 82% New E O A E 6s 47 50 58 50 New E G A E 5s 50 54 73% 54 New E Pw 5s 48 .... 90% 90% 90% New E Pw 5%s 64 ... 92% 91% 92 N Y P A Lt 4%s 07. 107V, 100% 107% N Y 8 E A G 4%s 80 _. 100% 100V, 100% N Y A W Lt 4s 2004 . 105% 105% 105% Nor A L A P 5%s 50 ... 94 94 94 No Con U 5%s 48 A... 48% 48% 48% No Ind GAE Hs 52 ... 108% 108% 108V No Ind P 8 5s 00 O 105% 105% 106% No Ind P 8 5s 09 D . 105 105 105 No Ind P 8 4%s 70 E . 103%,10.3% 103% Northw P 8 Os 57 A 98V, 98 98 Okla N O 4%s 51 A... 105 105 105 Okla Nat Gas 5s 46 103% 103% 103% Pac G A E 6s 41 B ... 113% 113% 113% Pac L A P 5s 42 ... 113V, 113V, 113% Pac P A L 5s 55 ... 70 70 70 Penn C LAP 4%s 77... 94V,. 1)3% 92% Penn C PAL 5s 7i> 100 100 100 COP GLAC 4s 81 B . 91% 01% 91% Peop GLAC 4s 01 D 94V, 94% 94V, Portland OAC 5s 40 .. 03% 03% 03% Potomac E 6s 50 E 107% 107% 107% Protero Su* 7s 47 st... 41 41 41 Pub Ser N J Hs ctfs 1*7 140% 140% Pub 8 N I 4'is 81 F 102% 102% 102% Pu* 8 PAL 5s 50 C 73% 73% 73% Pun 8 PAL 4%s 50 D 72 V, 72% 72% Quee GAE 5%s 62 A 75 75 75 Safe H Wa 4V.s 79 . .. 100% 100% 100% Scrinps 5%s 43 101V, 10' % ini % Cculltn Steel 3s 51_ 02 02 02 § E PAL Os 2025 A ... 93V. 92% 02V. Sou Cal Ed 3%t 45 ... 105 105 105 Sou Cal Ed, 3V,s 60 108% 108V. 108% Sou Cal E 4s 00 111% 111% 111% Sou Co G of Cal 4%s 68 105V. 105 105 Std G A E Os 48 st 02 02 02 Std G A E Os 48 cv st 02% 02 02 Std Gas A El Os 51 A 02 02 02 Std Gas & El Hs 67 . 02% 02% 02% Std Gas A El Os 00 B 02 01% 02 8tand Pw A Lt Os 67 02 V. 01% 01% Starret Corp 5s 60 .. 33 33 33 Texas Elec 6s 60 98% 98V, 98% Tex Pw A L 5s 50 103% 103 103 Twin CRT 5'is 52 A 60% 50% 50% 8M£rPw%V754 ?r «Wa •??# nt m Va Pub S 5%s 40 A 93% 95% 93% Va Pub Ser 5s 50 B . 85% 85% 85% West News 11 Os 44 .. 00 00 00 West T Ut 5a 57 A 99% 99% 99% FOREION Cauca Val 7a 48 10 10 10 Cent Bk.Oer,6s 51 B 25% 25% 25% Cuban Te 7%s 41 A . 100% 100% 100% Lima City fl'/as 58 ... 10% 10% 10% Pled El fl%s 60 A... 54% 54% 54% Santla* Chll 7i 49... 13V. 13% 13% Sax P W 6a 37 mat.. 25% 25% 26% rernl-Soc 6%a 53 A 87 57 57 Ww With warants. xw Without warrants, n New. at fstp) Stamped. INetotlabllfty impaired by maturity. tCompanies reported m receivership. Excess Reserves Forge To All-Time Peak Bj the Auoelkted Preu. NEW YORK. Dec. 3.—Excess re serves of Federal reserve member banks pushed to the highest level in history during the week ended No vember 30, according to the Reserve Board credit statement. Chiefly responsible for the up swing was the continued inflow of gold from Europe which more than offset further expansion of the cur rency. Reserves above the legal minimum for member banks compared as fol lows: Week ended November 30 ... $3,380,000,000 Gain over last week... 30,0004)00 Gain over last year_24111,000,000 NEW YORK CURB MARKET (■» »Hnte win direct te TIM tter.) •tot« um aaiee— Dividend Mete Add 00. mm. taw cteee. Aero SupB.llta 3 6* AH 6H Ala OrtSou (8e). 26a 58 68 68 Alum Co of Am.. 100a 117H 117H 117H Alum Ltd - COa 187* 187* 187* Am Airlines ... in* l»* 18* Am Cantrifujral . 1 1H 1H 1H ACPALA1.87lh 28a 26H SAW 25* Am Cynam(B).60 l 86* 26* 25* Am GAB (1.40). 2 81* 81* 81* AmGABpf f4). 100a 118 118 118 Am Inv(lll)l,60.. 100s 26 26 26 Ampdaraealbo .. 6 * * * Am Superpower.. 12 * * * Am Suparpwr pf. 1 17* 17* 17* Arctur Rad Tuba IS U A A Art Nat O... A) 6 2* 2* 2* Ashland OAR .40. 8 4* 4* 4* AaeooQAE (A). 6 * * * Assoc O A B war. 16 A A A Atl Coast L (1*). 00a 26* 26* 26* Atlaa Corp war.. 1 * * * Atlas Plywood 4 24* 24* 24* Austin Silver M— 8 * * * Automat Prod . 7 1* l* l* Auto Vot Ms 60s 1 7*. 7* 7* Aviation A Trans 8 8* 8* 8* Alton PtsheriA) 60s 45 45 • 46 Babcock A Wil 2 29* 29* 29* Baldwin Lo war 2 0* 6* 5* Baldw L pf (2.10) (Os 18* 18* 18* Basic Dolom .26*. 1 6* 8* 8* Bath Iron ._ 1 7H 7* 7H BeechaAircraft... * 2 4 4 4 Blisa(EW) — 2 It* 11* 11* Bowman B let... 100s 17* 17 17* Braes* Corp .. 2 7* 7* 7* Brewst Aero 30s 2 9* 9* 9* Bridppt Machine 8 8* 8* 6* Brown Rubber 2 6 8 8 Buckeye P L<2e) lOfts 27* 27* 27* B NAE P 1st (5) 100s 106* 106* 106* Bunker Hill A 8 . 1 18* 15* 16* Can Marc Wire.. 2 1*1 1* Carrier Corp ... 3 18* 18 48* Catlin Am .8 4* 4* 4* Celan 1st pf 3 R3e 25s 85 85 85 Cent A Sown Ut.. 2 1* 1* 1* Cent St E 6% pf _ 75# 4 4 4 Cent St E 7% pf.. 50s 10* 10* 10* Childs pf _126s 65 63* 55 Cities Service- I 7* 7* 7* Cities Svcpf ... 7 44* 43* 44 Citiss Svc(BB)pf 40s 40 39 40 Cities SPAL $6 of 26s 50* 50* 60* Cities SPALI7 pf 25s 53 53 53 Clinchfleld Coal . 6 1* I* 1* Colts Pat FA (2a) 3 84 83 84 ! Columb OlIAGas 2 2* 2% 2* Comwlth A S war 18 A -Jr A Cons C Mini.2Be) 3 8* 6* 6* Cons Royalty .20. 1 1* 1* l* Cons Steel Corn .. 2 6* 5* 6* Corroon A Reyn . 2 2 2 2 Cosden Petrol 10 1 1 l Cosden Petrol pf. 3 6* fi fi* Creole Petri.80a) 2 22* 22*’ 22* Croft Brewing . 2 * A A Crown Drug . « 1* 1* 1* Cuneo Presa (2). 50a 43* 43* 43* Dennison 1st pf__ 10s 30 30 30 Det Mich Stove -12 2 2 Domin StlACoal 2 11 11 11 Dublller Con ,10e 1 1* l* i* Eagle Plcher Ld 8 13* 18 13* EastnGAPBpf 300s 10* 10* 10* Eastern States 1 1* l* ]i/t Eastn Sts pf (A). 50s 19 19 19 Edison Bros (1). 6 16* 15* 16* Elec Bond A Sh 21 10* 10 10 Elec P A(A).10a 2 2* 2* 2* EmpGAF67. pf 75s 51 50* 51 Em OAF «*% pf 150s 53 50 53 Em GAF 77. pf 400s 53* 51* 53* Em GAF *% pf 350s 66 64* 56 Fedders Mfg 1 fi* 6% 6* Fisk Rubber ,50e 8 10* 10* 10* Fisk Rub pf (6) 25s 74 74 74 Fla P&L, pf 3.06k 150s 69* 69 69 FordiCan)A(1) 1 21* 21* 21* Ford Ltd (,17e) 2 3* 3* 3* Franklin Rayon 1 4* 4* 4* Fuller (G A) 25s 15* 15* 15* Fuller GA cv pf 3 50s 18 17* 17* Gen Teleg (la) 1 16* 16* 16* GaPwrpf(S) 50s 81* 81* 81* Glen Alden 376e 1 6* 6V4 5* Grand Nat Films 26 A V4 V4 Grt Nor Pa (la) 50s 38* 38* 38* Greene Tap AD 1 7* 7* 7* Groc Stores Prod 1 2* 2* 2* Gruman AE 50e 2 17* 17* 17* Gulf 011 (1) 3 38* 38* 38* Gulf St Ut *% pf !0s 100* 100* 100* nacia Mining .joe 4 9% 9 9% Heyden Ch 1.50e 1 38 38 38 Horn A Hard (2e) 10s 36% 36% 36% Humbla Oil (2e> 3 66% 66 66% Hnmmell Rosa F 1 3% 3% 3% Hygrade Food . 1 1% 1% iy4 111 Iowa Pwrpf 1 18% 18% 18% Imp Oil Ltd 50a 2 16% 16% 16% Ins Co N Am 2a 50a 68 68 68 Int PaAPwr war 4 3V» 3% t% Int Radio (,50e) 7 9% 9 9% Irving Air Ch lh 1 16% 16% 16% Jacobs Co 4 4 3% 4 Kingston Prod 1 2% 2Vi 2% Leh Coal A N 10e 1 3% 3% 3% Line Mater'l 20e 300s 15 15 16 Lit Brothers 2 2 2 2 Lockheed Aircr . , 8 28 27% 28 Lone Start.(Oe) l 8% 8% 8% Long Island Lt . 15 1 1 1 Loudon Packing 5 1% 1% 1% La Land A Ex 40 5 7% 7% 7% Manisohewitz(B) 50a 11 11 11 Mer-Ch pf A 6.50k 26a 61 61 61 Mich Steel Tube 18 8 8 Mich Sugar pf___ 1 344 3% 3% Midland Steel 2 14% 14 14 Mock Jud Vo .70# 1 13% 13% 13% Molybdenum 6 5 5 6 Mont Ward A(7) 70a 159 159 159 Mount City Cop 3 6% 6% 6% Murray (OM.15e) 2 9% 9% 9% Nat Auto Fibre 18 8 8 Nat Rubber Mach 13 6 5 Nat Tr*nslt(.75e) 2 7% 7% 7% Nat Un Radio 4 • % % % Nehi Corn (2e) 1*41% 41% 41% Nelson (H) _ I 6% 5% 6% N E P A pf 4 60k 25s 60% 50% 60% New Idea (,60a) . 1 14V, 14% 14% Newmont M <3e) 1 78% 78% 78% NY PAL pf (7) 50s 106% 106% 106% NY Shipbldg F 6 13 12% 13 Niag Hud Pw ,25e 11 7% 7'% 7% Niag Sh Md B.25e 6 5% 6% 5% Niles-Bem P <2)_ 1 52% 52% g;>s.4 Noma Elec .40e _ 1 5% 514 g^ Nor Am Lt & Pw 1 1% i*. x%. Nor Am LAP pf 60s 60% 60V, 60% Novadel Ag (2a) 1 31% 31% 31% Ohio Brass (B) 125s 24* 24 24 Okla Natural G . 2 12 12 12 Pac Ltg pf («) ... 60b 108* 108* 108* Pan-Am Air »1).. 2 17* 17H 17* PantepecOil ... 18 6 5* 6* Pennroad «26g).. 4 1* 1* i* Penn Salt 4.50e . 60s 163 153 163 Pharis T&T 60e :) g* g g^ Phila El Ppf (5) 60* 80* 30* 80* Phoenix Sec pf 50s 25 25 26 Pioneer Gold 40 2 2* 2* 2* Pitts* L B 1.76e 10s 62 62 62 Pitts PI G1 1.76*. 1 106* 105* 106* Plough Inc.70s.. 1 10* 10* 10* Potrero Sugar ... 1 * * ^ Powdrell & Alex 2 4* 414 444 Quaker Oats (5a) 40s 114 113 114 Reeves (D)(.60h) 3 6 6 6 Reybarn l.SOe) 6 2* 2* 21* Richmond Rad xr 6 3 2* 3 Roes* Pend (la) 1 14(4 14^, 1444 Rustless lr&Stl.. * 1 9* 914 914 Ryerson & H_ 1 {) | j| St Regis Paper... 7 8* 3 3 Scovlll Mfg - 1 26* 26* 26* Segal Lock _ 6 * 41 * Selberllng Rub... 1 4* 4* 4* Seversky Atrcr 21 5* 8 5 Sher-Will(2.60e) 100s 102 102 102 Sonotone (.16*).. 2 1* 1* m Boss Mfg Co- 1 e* 6* 6* South Coast ,16e. 6 2* 2* 2* S C Ed pfC 1.376. 1 26* 26* 26* Bouthn P L .30# .13* 3* 3* Stand Oil Ky(la). 3 17* 17* 17* Std Oil O pf (5)26a 103 108 103 Stand Per & Lt.. 12 1 * 1 Starfd-Products.. 1 8* g* 8W Stand Steel Spg.. 1 22 22 22 Sunray Oil .96e.. 6 2* 2* 2* Safe Inveatmenta Firat Mortfaft Notts Cl/ A/ •*> IM 3 '7n Mmk w /* /v *4 un t«U4hm Bradley, Stall ft Howard, lac. jut* w« SILL. IUY OR IXCHANOI OFFICE FURNITURE 5tOCfc Uk4 |H^| r Dividend Rate Add 00 Rlsb. Low Oleic Taylor <Ky) Diet 2 4 4 4 Technicolor ate. 1 204 204 204 Taxon 011 14 4 4 Tob Prod Ex .36* 1 44 44 44 Tonopah Mining 14 4 4 Tung*8ol L pt .10 1 74 74 74 Utd Clg-Wb Its. 6 14 14 14 United Gxx 14 3 24 3 UnltOaapf (7) . 8 80 75 76 Utd 8btpyda (B). 4 14 14 14 U 8 roll IB) 4 64 6 64 USB18pfl.76k 100a 54 64 84 USLineepf _ 2 14 14 14 U 8 Play Card la. 60a 29 29 29 Unit Verdd Ext 6 1 4 1 Utilities PBL tr) 4 4 4 4 Util PfcL pf (r)__ 160* 8 74 8 Utility Equity_* 8 2 2 2 ValsparCorp .. 8 24 2 2 Valaparpf (21c).. 100s 82 32 82 Van Nor MT 1.80e 1 2«4 264 264 Veneiuela Petrol. 8 ift E 4 Wagner Baking.. 8 64 64 64 Wentworth .20*.. 6 24 2 4 24 West VaC6C_ 7 14 1 1 Willma Oll-O-M.. 18 3 3 Wolverine Tub#. 2 74 74 74 Yukon PaoMfg . • 2 14 14 14 *lf oehtrupwr or raselvtraiup si oetna 2®r«ani»ed undei the Bankruptcy Act or cegtfltiek.MfutBaa M aueb rampant** _ * 18 tb* fortaoine taoit &n«r.ra «.re,a - "tr* h Coah or .toek k Accumulated dividend 5S* .£ *“• rear ww wub Sfi758to ** W™«*w* warrants war war ‘IDU Investing Companies XS8** ^Ct ;i tA*)-—Investment Bankers Conference. Inc. ^dmjnJP'd 2nd Ine - 1*80 13«2d' Affiliated F Inc _ 4.03 4 47 Ammn,« Hold -22.376 23:6(1 Am Bus Shrs - 3.48 3.84 Am Gen Eo Ine_ 54 HI Am Ins Stocks - 5.00 6.50 •Bancamer Blair . 3.25 4.0(1 •Bankers Nat Inv Coro A 6.875 H.H76 Basic Industry ... _ 3 62 B°st°n Fund Inc -16.39 17.53 Ifdfd.St !nv --r- 26.51 27.28 Bullock Fund -14.75 10.00 Can Inv Fund_ _ 4 00 4 35 Chemical Fund_10.2H 11 10 Comwlth Invest __3 62 3 04 •Continental Sh vf_ 7.50 8.25 Corporate Trust __ _ 2 411 Corn Tr AA _ ” 2 33 Corp Tr AA Mod ... ___ 3.83 Coro Tr Accum Ser •> .13 CorD Tr Acc Mod . . I 2.83 - Cumulative Tr 8h 4.80 Dcpos BkShNT "A”_ 1.34 ----- Deoos Ins Shrs "A ’ __ •> 91 Depos Ins Shrs , B’' 2 61 Diversified Tr C .. 3 So Dividend Shrs _ ] :j-' 1 43 SgylfF <lorDJ *•' ft _ 2(1.75 20.75 Fidelity Fund Ine _ 19.81 21 33 •First Boston Corp - 18.625 19.75 First Mutual Tr Fd_ 7.41 8.05 Fiscal Fund Bk Sh _ 2.25 2 49 Fiscal Fund Ins __ 3 21 3 57 Fixed Trust Sh A _ 9>1 Fixed Trust Sh B _ 7 73 Foreign Bond Assoc _ _ 6 72 730 Found Tr Sh A _ 4 15 4 45 Fund Investors Inc _ 18.10 19.64 Fund Tr Shrs A . 5.25 5 75 Fund Tr Shrs B _ 4.59 Gen Capital Corn 31.63 34 01 Gen Investors Tr 4 99 5 43 Srouo see Agricultural new 5.57 6.06 rouo Sec Automobile new 5.15 5 HI group 8ec Aviation new 8.02 R 72 Group Sec Bulldlna new 7.80 8.48 group See Chemical new 0.05 7 50 group Sec Foods new 4 oh 4 45 groun Sec Invest Shrs new :!.S" 4 17 group Sec M'ch'disins new 5.44 5 02 group Sec Mining new 7.1:; 7 7R group Sec Petroleum new 5.2o 5 00 groun Sec R R Equip new 4.44 4 84 group Sec Steel new 0 14 733 Group Sec Tobacco new 6.21 5.07 •Huron Holding 35 05 Incorp Investors 17.70 lthio Instl Sec Benk Oroup .90 1 no Instl Sec Insurance _ 1 29 1 43 Investors Fd “C" Inc . 11.20 12.02 Keystone Custodn B 2 21 29 ‘*3 30 Keystone Custodn B 3_ 14.40 15.93 Keystone Custodn K 1 ___ 14.00 10.02 Keystone Custodn K 2 . _ in.70 11 95 Keystone Custodn S 2 _ 14.24 15 77 Keystone Custodn 8 4 4 98 5 57 Maryland Fund _ 5.73 0 29 Mass Invest Tr _ 21 40 -’2 77 Mutual Invest _ 11.08 12 77 Nation Wide See _ 3.40 Nation Wide Voting_ 1 37 ] 52 Natl Investors _ 5.92 0.30 New England Fund _13.45 14.40 NY Stocks Automobile_ 5.49 5.90 NY Stocks Aviation _ 9.95 10.75 NY Stocks Bk Stocks _ 7.04 7.62 NY Stocks Bldg Supply_ 8.45 9.1* NY Stocks Elec Equip_ 8.15 8.82 NJ Stocks Insurance_ 9.10 9.90 NY Stocks Machinery_ 8.48 9.17 NY Stocks Oils _ 8.60 9.19 NY Stocks RR Equip_ 7.94 8 59 NY Stocks Steel 8.68 9.39 North Am Bond Tr etfs 52.37*5 _ Nor Am Tr Shares 1963 2.30 Nor Am Tr Sh 1956 - __ 2.81 Nor Am Tr Sh 1956 _ 2.75 Nor Am Tr Sh 1958 _ 2.54 Plymouth Fund Inc_ .45 JJ1 Putnam fOJ Fund ___ 14.83 15.86 Quarterly Income Sh 11.35 12.43 •Schoellkopf-Hut ft Pom 1.00 2.00 Selected Am Sh Inc 9.75 10.63 Selected Income Sh _ 4.28 Severeltn Invest _ .73 .80 Spencer Trask Fund_15.95 16.94 Stand Util Inc _ ,54 .58 Super of Am Tr A_ 3.54 Super of Am Tr AA _ 2.43 Super of Am Tr B _ 3.71 Super of Am Tr C _ 6.88 _ Super of Am Tr D_ 6.88 Supervised Shrs 10.16 11.04 Trustee Stand Inv C _ 2.53 Trustee Stand Inv D 2.47 Trusteed Am Bk "B *_ .55 .81 Trusteed Industry Shrs .98 1.10 Wellington Fund 13.58 14.91 •Quotations not furnished by sponsor or Issuer: all others are obtained by I. B. C. from those sources. -• New York Produce NEW YORK. Dec 3 DPI.—Eggs. 14.650; weak. Mixed colors: Special packs. 33% 35; standard*. 33: flrsta. 28%: seconds. 25-28: mediums. 24%: dirties. No. 1 24: average check: 22-22%. Refrigerator, specials. 25-2?%- standards. 24%: firsts. 24; mediums. 23% Whites: Resale of premium marks. 43 45. Nearby and Midwestern, premium marks. 41-42; exchange specials 40. Mid western, exchange standards. 30 Nearby, fancy mediums. 32%-35% Nearby and Western, exchange mediums 3! % pullets. 28. Nearby and Midwestern, refrigerator, specials, 29-32; standards. 27-28; firsts 24-20. Browns: Extra fancy 30-30%. Nearh' and Western, exchange specials. 35% Nearby, exchange mediums. 30. Duck eggs, 33-34. Pacific Coast whites jumbo and pre miums. 42-50: specials. 40-41: stand ards. 3944-40 mediums. 35-37. Re frigerator. specials. 33-35; mediums. 29% 30. Butter. 712.512: irregular. Creamery, higher than extra. 3044-31%; extra (92 i score'. .30%: firsts (88-01). 27-29%: sec onds (84-87). 25-20%. Cheese. 359.729; firmer. Prices un changed. DTessed poultry Irregular. Fresh and frozen prices unchanged Live poultry, by freight, unsettled. Chickens. Rocks 19. Fowls, colored. 22: Leghorns. 17. Express market unsettled; no sales reported For Investment Funds First Trust (% L/gy tyjn Notes Secured • ■ f On Cense restively ” Appraised Properties MOSS REALTY COMPANY • Reel tar Tower Bids. Met. 1776 Moaey for Coastractioa Loom aid Loan oa Existing Properties 5% near deed or tbost onli OEORGE I. BORGER *“ nsnja "• Climb in Industrial Activity Is Halted During Week Moderate Decline Stops Almost Unbroken 5-Month Rise Bj the Auoctited Preu. NEW YORK, Dec. 3.—The swift rise in Industrial activity was halted this week, according to latest avail able data, after an almost unbroken five-month upswing totaling 38 per cent. Although moderate, the decline was the sharpest experienced since the recent boomlet started during mid-summer. The Associated Press seasonally adjusted index of industrial activity dipped to 913 per cent of the 1929 30 average from 92.4 (the years peak) and compared with 79.1 last year. Individual components of the measure were only fractionally be low the year s best levels, a majority of them topping the like period a year ago by substantial margins. 8teei mill operations were throttled down for the second week, the first time since spring activity declined for two weeks running. Continued easing of demand from miscellaneous consumers was reported by the trade to have been an important factor in the setback. Although automobile production moved to a new peak for the year, the increase was not as large as was expected on a seasonal basis and the index fell. Total freight carloadings and electric power output also slipped somewhat from previous high levels. Residential building, on the other hand, continued its headlong rise into new high ground for almost nine years. Cotton manufacturing activ ity improved moderately. The index, with its seasonally ad justed components based on latest available statistics and with 1929 30 as 100. compared as follows: Latest Prev Year r„_„„ . . Week Week Ago ComDoslie Index ni <» }*•* 4 , Automobile Drod. 87.x xii 7 74 3 Steel mill act xi 4 x.'i ] to 7 Cotton mlg act 114 0 114 7 on n l&K'*1 H'J.t T°**NeV° 0MX*hirh ""•* H!,:~ Trading in Cotton Futures Declines Bt the Associated Press. The Commodity Exchange Ad ministration reported yesterday trading in futures contracts on the Nations cotton exchanges totaled 3,454.000 bales of cotton during No vember. Trading in October totaled 3.853, 000 bales. A total of 2,863.500 bales was traded on the New York Cotton Ex change. 582.050 bales on the New Orleans Cotton Exchange and 8.540 on the Chicago Board of Trade. 55% PLUSs A f 6 T I The Suburban District Building and Loan Association of Silver Spring, Md. eiway* paid 5%. Money deposited In this Association will be invested in but one kind 'of loans—loans that are insured under the terms of the Na tional Housing Art. Member Federal Home Loan Bank Saitem 8433 Georgio Ave. Shepherd 5200 • Home Owners • Business Property Owners and • Owners of Investment Property Lone Term 1st Trust Loans, low interest rates, reasonable amortization. Tyler ft Rutherford, Inc. Na. 0475 1512 L St. N.W. Loan Correspondent The Mutual Benefit Life Insurance Co. on business, invest ment and residen tial properties In D. C. and vicinity. Broker’s applica tions invited. H. CUFFORD BANGS 200 Investment Bldg. ME. 024C Mortgage Loan Correivonient Homa Lite Inturance Co. ot N T FIRST TRUST MONEY 5% Straight Loons tor 3 Yeor* Construction Loans Monthly Payment Loans $6.60 oer $1,000 oer month BOSS & PHELPS MORTGAGE CO. Lean Correspondent Jonn Hancock Mntnat Ufe ins Co. 1411 I H N.W NA MM Property Management Automobile Insurance Apartment and Hotue Management Mortgage Loans Fire Insurance Consider the relief from worrying details when you place your apart ment house and residential prop erties under the charge of our Property Management Department. B. F. SAUL CO. '* RIAL ESTATE 925 15th St. N.W. «<**SXSft*** National 2100