Oakland Tribune from Oakland, California • Page 34

-y- ibvmt FINANCIAL BUSINESS SECTION tit" Unlit ftut JbmUlieoi II 1 VOL. CXXV OAKLAND, THURSDAY, DECEMBER 3, 1936 34 3 '7 ,1 sales, PBonrs NO. 156 fBSS SIGN COMPANY ELECTS Oakland Man Named President STOCKHET IN DAY'S TRADE Carpenter's Pac. Mutual Plan hO-K''d Insurance Commissioners' Proposal for Internal Reorganization Ii Winner By GEORGE T. HUGHES NEV YORK, Dec, 3.

Railroad buying of equipment, rail and track supplies, once released, hai poured out in it flood' In the last three months, purchases of rails and accessories alone figure up to a total of nearly million tons of steel. And pro- $125,000 GOES BEGGINGj MHtltLU STILL CLIMBING portionate attention has been given a rolling stock and motive power, as witness the recent order by eastern trunk line for a hundred locomotives, lhat iti tar cry from one ot tne depres' gioq years, when the total do Big Oil Concern Will Join Rio Grande and Become Third Largest Coast Unit Leaders Recover From Late Reaction; Gains Made of Fractions and Greater 61 Centi Share Net Earned In October and $6.38 For 12.Montb Period LOS ANGELES, Dec. perior Judge Henry M. Willis ruled today In favor of State Insurance Harold R. Owen has been elected president of the Claude Neon Electrical Products Company to succeed W.

E. Jooet, who was killed recently in an automobile accident in Germany. Owen, like Jooet, resident of Oakland, though company has headquarter! in Los Angeles. Jooet maintained home here flying or motoring to Los Angeles as headquarters needed him. Expected Owen do same.

BEHIND, THE Sales of R. G. Le Tourneau, makers of road making equipment, LOS ANGELES', Pec. Judge" William jP. James said todav he wtfuld annrove the mestic business in new motive power was summed in one order for one switching 'engine.

The "Iron Age" reports that, the last week or so, In an effort to get orders on the books before the higher prices took effect, railroad orders appeared In concentrated volume, with rails alone accounting for fully 630,000 Owen, Joost ang Kobert John-t for October are reported at FINANCIAL SCENE on which net profit was $138,221 plan for reorganization of the Rich- field Oil Company California as" VICTOR EUBANK NEW YORK, Dec. 3. --(TP) -Recovery lights flickered In today's stock market and a wide assortment of heavy industry leaders -climbed back fractions 'to around 4 points 8t the best, v- The upward reversal, however, failed to pick up much speed and selling in the final hour reduced LOCAL ISSUES after normal income taxes but before undivided profits taxes, equal Commissioner Samuel Carpenter's plan for internal reorganization of Pacific Mutual Life Insurance Company, a $220,000,000 concern doing business in 42 States. Complimenting the a 1 1 4 "Giannini plan," Judge Willis ruled, however, that In view of his holding on constitutionality of the code sections, and his finding tnat-Car penter's plan was fair and equitable, there was no necessity for his making a comparison between the two plans. The judge held the insurance code sections in question empowered the commissioner to re Submitted by Harry F.

Sinclair's ston, all of this city, founded company about 11 years ago, though at that time they called it National Electric Sign Com' pany. Entry of Neon signs Into street' signs and illuminated adver Consolidated Oil Corporation, with to SI cents a share on 225,000 shares of stock. For October, 1925, the net was $59,000 or 27 cents a share. In September this year the net was oe AHEAD NEW YORK extreme advances in many instances. tising resulted in National" jciectrie Transfer, approximated 1125,529.

shares. 10 MONTHS FIGURES cal Products, which was controlled by Los Angeles capital, operating On November 13 your eorre. spondent exclusively disclosed that United States Steel Insiders were accumulating the preferred shares. It was stated that they were doing so because thay anticipated another dividend payment before the elose REASON Brokers generally attributed the better action of the list to a revival of business optimism based on organize an insurance company, ana the court had no power to override the commissioner's plan unless it was definitely shown to be unfair IT 1S NOT surprising, therefore, with Important orders also coming from other sources, that tha rate of steel ingot output this week has reached a new high for the recovery period. An indication of tha sustained demand for steel had long I pen given by tha high rate of pro.

iction which has persisted ever since the early Spring. It Is pertinent here to quote a linx'i sentence from the current mom hly survey Issued by tha Fidel, ity Fund. "In many respects." says the survey, "recovery and depres and ineauitable. several minor changes which the court The Judge made no final order, however, saying he would enter it on the court records One amendment het suggested was the addition of pne or more members to the Board of Directors of the new company, to give creditors and claimants greater representation on the board. He authorized use of the name "Richfield" by the new company.

The plan proposes a merger of Richfield with the, Rio Grande Oil' Company, subsidiary a of Consolidated, It has been, he subject of a several weeks hearing. At the hearing, witnesses testU th DondnoIdersTlna approved plan, Hie most spirited buying In the history of the shares since they made their appearance on the San Francisco Curb set in today in Bancamerica-Blair as the local stock market recovered some of its losses of yesterday. Over 11,000 shares changed hands in the first four Hours of trading with the price being boosted to 12V for a new top. The company is 61 psr cent owned by Transamerica and pays a dividend -of SO cents a year. Vague Net Income for the 10-month period ended October 31, amounted to $1,294,023 or $5.78 a share against a net income of $504,622 or $2.24 a share for the first 10 months of 1935.

For the 12-month period ended October 31, net income aggregated $1,437,604 or $6.38 share against $514,055 or $2.28 a share for the first 10 months last year, Sales for the 1936 period totaled $4,151,990 against $1,736,747 for the 10 months under Claude Neon patents for 11 Western States and certain portions of Mexico. This rather odd arrangement of executive offices being in Los Angeles and executive officers living in Oakland has apparently been of no handicap to progress of company, 1 Owen is 40 years of age, Johnston -maintains home in Oak-; land and Is vice-president. BANK RECEIVER ASKS The Giannini plan, Judge Willis held, was in reality an offer to, bur. chase. Before an offer to purchase the continued flow ot dividends, bright earnings statements, wage increases and bonuses, Outstanding on the upturn were shares of American Locomotive, General Railway Signal, rWestintf-house Airbrake, Lima Locomotive, Pullman, Poor and Company, American Car and Foundry and Pressed Steel Car.

Baldwin Locomotive was an exception to the, equipments, of the year. An official of Big Bteel informed your correspondent that there wasn't a ohance in the world of such distribution being made. On November Zi directors of the organization announced an additional $7 per' share distribution on account of preferred arrearages. frequently could be considered, he said, it would have to be preceded by court order of liquidation of the sion are similar, in that, once they company. ended, October 31, 1935.

J.t do. in any material headway, they I 01 wnwrmwnvsjw or control I BULLISH Officials of a corporation BULLISH b'golnTerglng! -B'ulinsr tnrmem' WouiBr -rWtBjgjjJl Itif wards the end or the month. Declares Dividend Two other Curb issues made new IT VHt LACKED proof that last hij; recovery is under way, wt OTHERS' AHEAD Others well ahead were Armour, Swift, Wilson and Company, TJ. 8. Steel, Bethlehem, Republic, U.

S. Pipe-and Foundry, Interlake Iron, American Rolling Mill, American Telephone, International Paper and Power, preferred, Anacondai Inter find it in the swift and broad necessary to have the proper password to get into the hoard. Maybe you are one of those entitled to your bit from this considerable sum of money. If you had cash on deposit with the Central National Bank during kuf gfonlng of the business of sup. r'ying the needs of our transpor The company's shares sold about three weeks ago as high at 76, an all time peak, but have since backed down to around $58.25, ex dividend of $4.75, or about $63.

Stockholders were instructed -today that warrants entitling them to purchase one new share of stock $4.50 for each share held as of December 7 must be in the mails by "December 14. The rights to purchase the new stock expires December 28. LEHMAN CORPORATION Lehman Corporation, New York Investing Company, announced a special payment of $1.50 and the usual quarterly of 75 cents, both to be paid January 8 to record December 24. The special aggregated $686,900. systems.

For that business SAN FRANCISCO, Dec. City Copper Company declared an initial -dividend today of 21 cents a share, payable December 21 to stockholders of record De CGfTil36I' 15 The dividend of $497,010 on the outstanding 2,371,000 shares "goes principally to International Smelting and Refining Company, national Nickel, Woolworth, Mont has followed a pattern as definite as the ups and down of the general In money the ex'r distrlba-tlon means $25,210,677. It means that directors expect the eem-pany to show better earnings for the fourth quarter than shown fa the third quarter. It means that officials would rather pay to stockholders than tsxes to the govern-ment. It means that directors are to be mere liberal In cash payments to stockholders a long as earnings permit.

In all it means that linked States Steel directors are bullish en the company's put look. OAKLAND PRODUCE economic cycle. 1 gomery Ward, Boeing, Goodrich, Du Pont, Wcstinghouse, Wilcox Oil, Superior Oil, Santa Fe, N. Central, Alleghany Corporation re The railroads have never been Hown to buy heavily In lean years, I "veral years ago, one of the large ferred, New Haven preferred, Loew's railway car manufacturing concerns, SAN FRANCISCO STOCK EXCHANGE tops, Italo Pete preferred at and Stearman Hammond Aircraft at $2.35. "Big board" trading showed no new tops but a number of issues showed fractional improvement.

Among them were Transamerica at 1714, Le Tourneau at 59, Standard Oil at 3814. Republic Pete at 6 Shell Union at 26, California Packing at 43, Crown Zellerbach at 1714, Crown Willamette firsts at 111, Union Sugar at 24, Atlas Diesel at 23 Southern Pacific at 42, Yellow Cab at 64. Railway Equipment ift advanced 2 to 89 and the seconds 1 14 to 2014. Pacific Telephone preferred N6rth American Investment 6s at 97 the 014s at 93 and the common at 19 were slightly firmer. Emporium at 25, Roos Brothers' at 29 were slightly off but in the case of Roos the stock was selling tne banking holiday; and if you have failed to make the proper representations to the receiver, Joseph H.

Grut, for the final IS per cent payment, then you are one of the 1300 persons entitled to a bit of cash, Receiver Grut Is making every effort to close up his work. But those who either do not know they have money doe and pay-able, or who. are careless snout collectlhgNnay be heading for dlf-, ficulty. In ease this money is returned to Washington by the receiver, Jt will ana paramount. -1 GBAIH MARKEl 7 (Furnlihed by Wm.

CTllr Ce.) CHICAGO, Dec. I. Grain ranie: tl.en very well off financially, tried to get the roads to buy freight cars in advance of their needs, and to finance such purchases SAN FRANCISCO, Dec. $. The following are the bid and asked prices and sales on the San Francisco Curb Exchange as reported, over Win, Cavalier wire for the Oakland Tribune: out of Us own fat treasury on at Wheat, Open High Low Clone MHTAL NAHKtSTS NEW YORK, Dec.

3. Copper steady; electrolytic, spot and future 10.50; export 10.6f 10.62. Tin barely steady; upot and nearby 60.8751.12; future 50.456ft.0. Lead steady; spot NewYork 5.20 5.25; East gt. Louis 5.05.

Zinc firm; East St. Louis spot and future 6.05. Iron, aluminum, antimony, quicksilver, platinum and. wolframite unchanged. SILVER FIT! BB MONTREAL, Pec 3.

P)-i-Sllver futures closed easier. 40 to 70 lower. High Low Close May 46.75 46.76 46.45B July 46.90 46.85 46.553 September 46.90 46.85 48.650 Bid. Dec. S1.25H Sl.22 S1.26V4 tractive terms.

But It did not get ..81.23 1.10 May July 1.21 1.20V, 1.08H 1.06' I.08Vt -y where with the plan. i Bio i Ath rut it APPLES packi boxoS Spltianburg; 80-13S XF II. 3.00, fdiicy I BS iff 1.70 Dalleloi 66-ia5i XV 2.i593.40, fancy 11.00 111! Homes O-flSa XT ll.BO!.! Corn .1 Bid I Ask 1 40 HI 44 Alaska Pieltii Home Pao 1.07', June I 62 Hono Oil cuing BACK to the last previous sharp downturn in business do pf I Bid I Ah 149 115014 160V4I15) I' 76 I 1107 I Anf Nat Bk 1.08 1.02T'. .68 V. May.

July Oats May I 1 be very difficult to collect. Paraffin 100-12BB 11,76 fi)U0, fancy i 1.07 1.01$ .46 .46 1.07(4 1.02'A .46 .42 Hono Plant Hudson Mot 1029, we find that tha car-i bought only little more than Grut urges those who have claims do pf 1.65 (7 Jar 13 4.8 Hunt Bros 1.80; Golden Ortlny 8S-126i XF 1.00; Nnwtowna 88-1 E6a meat-00. Watnonvilla Nwtown, boxes, 76 90c, lidded XqO Aeoo ln Alloc Oil Atlae pieel Bank of Cal Bishop Oil Byron Jack Whsti 19 6 22 July 3 freight cars and 817 locomo 20 1754 to appear and get their money, S. F. MAN do pf Hutch But Rye- Phillips Fet I.

I 48141 45 I ilr1nr (h anniinl BMnii T4 4614 4674 4. 1.00 11.10. rtom com etni-HKa ll.ltlJ Dec May. sr.ir fi tisfi 66 .69 .92 Island Pine Rainier i period fron l919 to 1921, But .93 .99 On the Curb American Telephone 1.85. White Pernialn BANK STUDIES COMMITTEE Pf le recovery from that depres.

AVOCAJ)OHPuer made a small gain at closed fw 14 No. 2k. 81. 2501.60. mtmr-omm-die period from-1022 to 00 a Cotton Cal Cal a nan as -Nominal LeMlle Salt I.3514 1.36' 1.39'4 1.3514 21 ink a 2914 looal.

I BERRIES atrawberrlas, HepUuT'et do 6H Pf do 6 pf Roos Bros do 127,800 freight cars and 1753 I motives were purchased every Le Tourneau 69 60 Cal Fack 60c; orates, $1.00 WINNIPEG WHEAT 1.10 1.12 1.10 rn sli et draweiia, SAN FRANCISCO MINING EXCHANGE May. Ak. Llbby McNeill 1.2 5. 1014 1114 107 8314 4414 on the average. In the latest period, tjuring the year i.ocKneea LAO CALIFORNIA 110 bi( 1 uiitern ar 108 TVs 48 -rtonryaiii' partway Lyon Mag--A do T3R AN13EHKI KS Hate Howa, 14.80 104 102 8 Pwr pt iijji wi we- ouying 01 cars shrank to an annual 109 do 7 of 04.75 per 2t-ln.

fcox; Waehlnrton McKarland, M.T1O4.00. -GHAPKg C'ornlchon. SSaOII.OOl SAN FRANCISCO, 'hit SThe following are the bid and asked prices and sales on the San Francisco Mining Exchange as reported by George J. Flach, 155 Montgomery Street, San Francisco, private wire to the Oakland Tribune: 26 108 Vtagnavoz MaKnln Hchlealnger UAIH U1IAII1 CHICAGO, Dec. 8.

(P) Caah wheat, No. 1 hard 1.80; oorn, No. 8 mired 1.04; No. 2 yellow 1. 10; old 1.12; No.

8 yellow 1.05 01.08; No. 4 yellow 1.011.06; No. 3 te of 8800, while the locomo average came down to 103. 114 1H 17 ,26 126 82' 15 25 Emporori, 8676axtr (. par do pf Mnrcnnnt do pr 4hell Union do pf 2614 1 124 Depressions, therefore, may be inif'd upon to produce a large Mkt St Ry Bid I Ask i Bid Ask .01 whlta lgnal Oil Cloro CI Neon Del Coast Co Gas Cons Air Cone Chem Cracker Uh Cream of A I Crown ZM A do do com Dl Giorgio do pf El Dorado 91 N.

Suthetld 01 Concordia meeting of the Banking Studies Committee of the American Bankers' Association has been called to convene In New York on December This committee waa appointed Jbythe American Bankers' Association at the suggestion of President Roosevelt who desires the. making of a thorough study of the banking structure of the United, States and recommendations be made for any constructive changes required in the banking laws of the country. Hugh L. Clay, vice-president of the Bank of America, San Francisco, left this week by plane to attend. Other, representatives of the West will be: E.

G. Bennett, president of the First Security Bank of Boise, and Andrew Price, pres. ident of the' National Bank of Com-merce of Seattle. Soundview PI 2H 14 uata, 27 108 Mi 25 4 20 6 4V tm 21 06 V4 do J)f do 2nd pf do. pf BI1 I A.I.

.03 .04 I I .05 .07 Obra iu 111 j.o; ro, 1 wnite j.ubqi.us'a, No. 1 white 48 49; No. 2 47'48; No. 8 white' 46 46 14 0. 2, 1.03 1.04 any beana, 1.08; No, 4 white J.0601.0614, no.

4 u. i.uo vj yi OnAPFCntJlT fancy, 80s ati lainer, I), Hi olioioe, 26 to 40c le, LlMONH Southern California fnncy pnekert boxen 80, I4.60ffl4.75i 4328, 3.7B4p4.00i Acm Alto Aladdin white Kon Vira rrfld demand lor railway equip, of all kinds. 2 fc'er A I .05 ,07 1 do Dlv'ida rye, osr 01 Vatloual Aut Operator I'ao Butte 16 4 S7 68 i J4V4 96141 No. 2 yellow. 1.8601.

36141 No, 8 yel 41 Vj Hou l'acrTIa Natomai Olv nnelj Pony Mead Hprlna Val 814 9 421 I soy 13 94 41 .01 .08 inmontrn, urge, ii.vvoi.rv, mii SI 2BM1.B0. Nor Am Inv .02 ,01 .08 .08 .08 .08 llnsy Qunl MtHIKt Of l.ttl Ued Htll Rosette COMPETENT OBSERVERS close i mnrkots In major and minor moditics, a score or more, of are traded In on a futures iso or mere in cartons, it do 6 pf do 6 nf lolconda Hunor mold Mtnporlum 100 to ,18 .01 .00 .00 .01 .07 .00 .01 .01 .02 .00 Hound Mtn Uoldfleld Tel Investmt ,01 I it .88 .04 Nor Am Oil OUANGKB i. Kortharn California 12 5. 13A 46 814 19 Silver Dlv rhomas Aleo Fire Fnd Ins lu old Metals bold Share .05 ,06 .06 1 .12 kicoldont ln ,03 .65 :1 .05 .01 .01 .30 19lt Navel, Sunlclet, 200 an4 smaller, Hllver Klnff 1 Oliver Flit A Arrowhead BalMetnl Hal Ssm Best Bel' Black Mam Blu Rldf Booth Broken Hill Hroughtr Carrie Cent Eureka do pf Chollnr Ext on a number of exchanges, convinced that commodity Tlrtewater do pf Simon Lrjold Wedge! 106 108 178 ana larger (i.duqi 8.10: ohold. JS oenta leea; market do Smuggler I ijrus rraneamer 1714 18 80 22 7H 18 18 21 89 1 29 Paauhau Pgr! I .01 I ,00 Is now ontrunnlng that .00 Thompson I pack unwrnppea j.uujpi.x.

Halifax low 1.14 01.8814; No. 4 yellow 1.85; barley, feed 6088 nominal; malt-Ingr 1.0001.40 nominal! timothy seed 6.8506.10 cwt; new 6.6506.85 cwt; clover seed 24.00081.00 owt, Mvnnpoor, WHEAT Liverpool, spot wheat! No. 2 Manitoba 8a No, 4 Manitoba 9a ld. Futuree closed easy; Dec. 1.28;' March 1,18 May 1.17; exchange 4.89.

FLAX DULUTH, Dec. 3. (PI Flax on track 2.040114; Dec. 2.04; May 2.03. Union of Cal rood Mach Poster 4 Kl do pf Galland Gen Motors Gen Paint do A Paolflo Can To No Starl CKAKS-li(l-ll).

.02 High Divide uuhiiw. in stocks. if l) 20 6K 20 68 28 3114 4814; Union Sugar Pac Am Flah BRrtlets, ll.01.80; occasional, .02 .03 .08 .02 .08 .02 Ji .1 01 .08 17 24 rk 18 64 TrlnltyOld Jack Walte .14141 .60 .69 02 fnlon Con .18 tiniv oil United Air .00 .25 .25 .02. .04 peculation In cocoa has risen to r-rord levels, for instance, and the iiinib" F.xl ll.BO; Hnac, 1 1 .00 (fp .26. big lua: Winter NelllR, I.Ui1.2.

17141 do 5 pf I do 6 nf .01 k.01 Man Con WalHlun to Glad Mohnnl .03 .09 IV' AVAL STOHKN Vera Mine I .15 I Vcrdl I 00 I Wilson .01 1 Pic i.ni. MONS 7hnii.oo par s- -v York Coffee and Sugar Ex Manh liold 1 Welle Far B311 S15 Pac Mcht I loycr lux; cholne 8080o. ni I .04 .09 Com Key Tun I Con Chollarl .48 I .50 Mexican 1'lnu SI 87 V4 38 81 4914 101114 8 251 dtf'pf 105', White Caps .10 I .38 St Milk Hale Uroe Hancock Oil Haw Plnmp Natl Silver .40 Yellow Cnh 93H! 64 PI Nil A PPI.K8 Nominal. POMIOliRANATES A. lus, 40 Pan Tub Sv rl.iitige reports that trading in coffee itmts in the first 11 months of i year was nearly 40 per cent 1 do ecr II I 66 I 64 do pf dOc, extra 7Cc.

i nve the volume for the like period TANUKUINKN imperial vaney, A. In 11. 6001.86: Kara County, A.M. to 1:00 P.M. ago.

Rubber has been in a tl.261.60, A. M. te 11KI0 A. M. Sales Hixhi l.nw 'ms tiaif! i 30001 Alto I .06" I I lOOOiGold Wedgel .07 I .07 aOOOlBooth ,01 .01 .61 2000Red Hilla .01 .01 00Cen Eureka .80 .30 .30 i i LEAD FI TIRES NEW YORK, Dec.

8. Lead futures firm, unchanged to I hither. March 6.13B; July 6.24B; Nov. 5.35B. Sale 8,720,000 lbs.

Bid. iCloae Low hi Low C1oh ARTICHOKES ll.OO01.BO Per Too Bll I I'M 30)Occid Ine 100 Oliver Flit Analo-Cal Bk i.ong speculative movement for B-veral months; cottonseed oil has a I following, and hides have been tempting to respond to fecord I iUI '24U 12 Hi 22 too Atlai In A 2 6 8814 100 Pao G4B com 6814 box-, -extra ll.60Ol.TI. BEANS Per lb. CoaehtUa VallTi Kentucky Wonders, moit 8o, few 6 6c, beet fl 87e, ordinary IOHo; Blua Lakes, 4ffo, tew H7o, poor lowers llrriRi, local, 40to: Ventura Bank of Cal Calamba pf Calif Conner 100 do 614 1 pf 19414 194 194 "I LIVESTOCK 3814 li 25 i' oe production. 100 200 Pao Bv nw SAVANNAH, 8.

OP) Turpentine firm, 39 sales 98; receipts 186; shipments 6-18; stock 35,448. Rosin irm; sales 624 receipts 1598; ship-ments 1667; stock 90,832, Quote; D.E i I and WG, 8.06; WW and 8.80. 1 it r. F0REI6R I XCRAR8E Great Britain, 4.90 France, 100 trance Italy, 100 beiges 6.3850 Belslupj, loo bekraa lfl.oa Sweden, 100 kronen 28.30 Denmark, 100 kronen .21.60 Norway, 100 kroners 24.68 Swttterland, 100 franc 23.00 Holland, 100 guilders 64.44 Canada, 8100 100.6876 Portugal, 100 escudo 4.46 Japan, 100 yen 28.63 Hongkong, 8100 30.6876 India. 100 rupes 37.06 Shanghai, 100 local currency 29.75 Mexico, 160 pesos 27.60 LONDON, Dec, 3.r W) Money and 25 100 do 1 pf In a nutshell, such commodities I been Increasing In quoted uaiif raoKinf Con Chem A 1814 314 100 100 10 100 Pao LBht com 48 County, 6 7o, ordinary lower.

26 26 Cr Will 1 pf BKm.A.i.iii (voevo. lew to because of an Improved de 100 PaoPub 8 1 pf 96 Pao pf I 111 11114 11114 17 VJ IT i 17 15014 16014 16014 or sell vto orate. 1100 1200 6 $4 5 20 PUn Wh pf 6 Cream of Am BRUHBET.B PROUTSJ Faney i and a strengthening In what traders call the "statistical posf- lOOlRalnler PP 100 4 Dl Qlora mull, tqi'i'Ae lb, poor Jo. MARKETS AT A GLANCE NEW YORK, Dec. firm; heavy industry issues rally.

Bonds higher; leaders Up late in day. Foreign exchanges steady; sterling, francs shade lower. Cotton steady; trade and spot hause buying. Sugar lower; less active spot demand. Coffee higher; firm Brazilian markets Call money 1 all day.

CHICAGO: Wheat world import estimated larger. Corn easy; rural offerings increased. Cattle steady to strong. Hogs steady to 15 up; top $10.25. SAN FRANCISCO: Stocks, stronger.

200 Uy 6 pf: lOOIRmp Capwell BUNCHED VKQETABLiKa Car- 2014 89 40 20 88 29 Add to that dash of in i 175 do 8 pt 100 Roos Bros rote, 100150 donen bunchee) tur-nine, white. UBiOo: radlahea and 14 14 14 2614 23 19 1914 1914 90 60 00 SS 38 38 I 39 14 8014 30 14 29 74 lvwircmeco 170FrmnFdTn lOIOnlland Hero Pete 814 panley, lAOlBc; beeta, lOOliet ireen onions, 10015c; chard, 11 Q. JOOIHawnllnn Pin BOOIltonolulu Oil 10IB.II.tP 7 pf 200Sholl Itnlon 200Hou Pacific lOISnrlnaf Ltd CABMAUW Ua OOI, CELERY Half orate. Santa Hflnn TMent 2S inn Hunt Broe A Clara, Utah variety, (0065a, poorer 111 26 42 8 1 89 19 46 20 88 2914 8 111 26 43 8 '4 IV4 39 19 1714 24 24 16 88 64 SOUTH SAN FRANCISCO, Dae. () (U.S.

Dept. Art.) Hogs 1950; bulk 180-225 weights. 10.400 10.50. latter top, few 240rlb. sorted off 10.00; 140-150 lb.

mostly 10.00; few up to 10.40; half load 213 araln. fed locals 10.20; packlnsr sows strong; to 25 higher, bulk 7.2507.60, odd head 7.75. Late Wednesday, bulk locnl butchers 9.90, Cattle 175, Rood light fed steers quoted up to around 8.75; load 825-lb. Oregon feeders 7.50; package common 700-lhJdaho hplfeia 5.00; short load medium 1050 lb. Oregon cows 5.16, tfood young range cows quoted up to 6.75; plain 'light bulls 4.000 5.00, Good quoted up to 5.75.

Calved 10; nominal; goon-cholce vealers quoted 8.5009.50; package common 437 lb calves 4.00. Sheep 750; lambs active, fully 25 two decks good fed 80-lh. medium pelt California 8.40 straight, strictly good around 78-80 lb. woolsklns absent, quoted- up to around 8.65; other clnsses absent, ewes salable up to 3.25 for best. 100 WHAT THE.

MARKET DID I.lbby 40 500. 2O0HP-Ci(5 Fer 700Ktand Oil Cal caulifloweh raney. touvBo; Air December 3 Shares m'lliim, 40ff50c. in 25 Mi 4114 SM 884 19 17 24 24 15 H8 "eV 33 33 33 81 81 81 8 2 8 10 10 10 1114 1114 69 69 69 2614 2514 2614 108 108 108 88 38 38 IOVj 19 19 9714 97W 9714 18 18 13 1714 CUCUMn'liltS Luea. S1.60O1.76.

Thurs. Wed. 424 23G 291 542 185 145 900 923 December 3 Advances Declines Unchanged Total issues Total sales 2,038,950 Previous day 2.319,300 Week ago Closed Year ago 2,357,770 modlum $1.0001.25. 200IThle AVat 6500Transamerlc OOOHTn Oil Calif 300t7nlon Ruftar 4flnUnlv Cone Oil 400tWent PUS lOOlYellow Cab 100 Le Tourneau lOOIMarchant I pf 200lNnt Auto 849No Am Inv lot do 6 pf l00No Am Oil eggpijAnt toaonaua vaney. 24 24 15 88V4 64 $1.00 1.10 box.

discount rates unchanged. NEW YORK, Dec. 8. (IF) Foreign exchange steady; Oreat Britain In dollars, others in cents: Great Britain demand 4.90; cnbles 4.90; 60-day bm 4.89; France demand 4.66; cables 4.66: Italy demand 5.26 cnbles 6.26. Demands: Belgium 16.93; Germany free 40.24, registered 20.70, travel 21.80: Holland 54.43; Norwav 24.65; Sweden 25.30; Denmark 21.90; Finland 21.70; Switzerland 22.99; Spain unquoted; Portugal 4.46; Greece Poland 18.88; Czechoslovakia 3.53; Jugoslavia 2.34; Austria 18.73N: Hungary 19.80; Rumania Argentine 32.70N: Brazil 8.80 Tnkvn 28.60: Shanghai 29.85: Hong.

uakwu tancy, anvec, imui Ho. Drynapk Feacadero 4. 1.00 Si 1.1 5. few hlaher: poor and STOCK AND BOND AVERAGES STANDARD STATISTICS COMPANY AVERAGES 6tocks PonffT 20 Rr 20Ut.il 90TU DECEMBER'S 20 Ind 20 Rr 20Util SAN FRANCISCO CURB EXCHANGE holdover 0fp7(e. Wationvllle 4i, 60 0)6ric.

few 76r. orcailnnal isc: Tracy 80 TO 100.0 100.1 SO Ind 162.8 161.8 I.odl 4h Stockton 4i 65Q 76c, few higheri Tulare County I and 4a 57.9 97.4 135.3 Today 94.7 99.6 108.0 57.7 97.7 134.6 94.7' 99.6 105.9 SAN FRANCISCO, Dec, 8. The following are the bid and asked WOOL MARKET BOSTON. Dee. 3.

(iP fIT.S. Dent. POTATOES Klamatn No. 1. Ii.so 02.66: Htockton Lonr whltei, prices and sales on the San Francisco Stock Exchange as reported over Wm.

Cavalier A Coa wire for the Oakland Tribune: "kong 30.70; Mexico C'y 27.88; Mon Agr.) Demand for domestic wools In Boston market today lacked the keenness that marked aotlvity during greater part of 11.80 1. 65; No. 1 nominal; Alvarado and other local points 60 60c It. A. luge.

Hid 1 ak. I Bid 1 Ak treal In New York loo.oa;-New York In Montreal 99.96. Alaska Trd 1 25o I 60c Holly Devel Pac West Oil) 17 1814 mushroom cultivated, ssoioo Hobba A Radio Am 188 rtio Am 90c 95o I 1601 I 6 714 54c 55c lb. 11 3.75 An occasional hover with nrcent 12 4.2. Schum Am Ton Bdg68o 90e ONIONS Stockton.

Tallow Globes. Inimedlnte requirements un to 1 163.0 62.3 99.0 136.3 93.0 99.1 105.6 99.2 124.0 43.9 81.3 104.1 91.2: 82.2 102.9 92.1 169.6 64.0 102.0 140.5 ....1038 B4.7 100.4 106.2 100.1 126.2 44.0 80.3- 106.4 .1936 low. 90.0 84.7 103.5 93.3 127.9 45.3 84.8 106.9 ....1935 91.5 86.4 103.6 93.1 78.6 28.6 39.5 64.0 ",...1935 83.6 71.0 89.3 83.0 100,0 54.3 90.3 93.8 ....1934 85.0 75.2 73.8 77.0 76.0 34.1 47.1 .1934 low. 72.1 74.1 77.2 73.3 ASSOCIATED PRESS AVERAGES Stocks Bonds 15 Rr 13 Util" 60 Stka DECEMBER 20 Rr 10 Ind 10 Ut) tOFgn do pf I 18 I 1914 I 43 46 about the strongest of recent prices, but most bids were Inclined to be 50-lb. sacke, Fall crop, 60075a; whiten, medium, ll.00Ol.10j boilers, lUSi1.60, Anglo Nat 22 I 22 Argonaut I Idaho Italo Pet do pf Int Cinema Ivlnner tfhasta Wat Cnu Kdlg 14.25 11.25 1540 14.30 1.30 1 5.5 a Banca Blair 11 12 PEPPERS Iocal.

Calif. Won. do 6 pf do 6 nf Cal A Tile, A 20341 21 derm, crntei, 11.1601.66, poorer 75oj 30 I 30 27 2714 28 2814 40 I 49 2.35 2.40 22 26 Cardinal Gldaio Mnnaacn 14.25 4.10 SP-Ol pr pf Yellow Wax 40Of0a per A. lu. 80o I 40c Can Eureka LtickrTtger I 1141 Htearm 11a POTATOiis Kiamatn wo.

i 12. jo Chansolor-L Monolith 2.66 Sun McK A 00.0 00.0 2 ai.661 HtocKton ivons; wnitea, .4 .2 11 8O0 I 90o Monolith pf 1 do Cltlca Sorv CI Neon I 6 26o 10 I 33c 35c Pet choice, tl.30Ol.65; No. 1 nominal; Alvarado and other local points 600 60c I. A. luai.

Ml Mount City" 105 14;) 09 Cr Will 2 pf Vlca 3.25 7 2Sc 12 50c 21 14 49 1.10 90c Nev Pbr Gld N'lotor Equip PUMPK1MS email, to lb: line )'Con Moffat 12 in 14 1S! 44 52.1 52.2 52.3 43.4 53.7 43.4 1.50 2.50' 714 7 1614; l'4 38c 1420 18 do pf do rta ItHUBARB 20-lb. boxes. Cherry blaa- I cypress ad Domlnguei Oen Mutiila Gt West Ch rf Thursday ..,.1936 ....1935 ....1935 70.7 70.5 72,5 55.3 72.8 55.7 56.1 348 40 22 78 '2 47 21114 76 23 97.5 97.6 97.3 85.1 97.9 86.9 87.8 73.4 45.8 104.1 104.1 103.9 101.6 104.4 101.8 102.2" 92.2 40.0 102.1 102.2 102.3 99.7 103.1 99.3 "99.8 84.5' 64.6 71.2 71.2 70.9 69.5 72.0 "67,6 70.4 65.5 42.2 Coast Life, 'iiomea sua 96.4 96.0. 98.2 73.6 99.3 73.4 76.3 49.5 17.5 146.9 38.4 38.2 41.7 30.7. 43.5 30.2 ,31.2 x18.5 8.7 153.9 3.35 3.40 Western Air Nominal.

LONDON, Dec. 3. W-Bar silver barelv steady, 1-16 lower at 21d-(sterling price equivalent to 46.60 LONDON, Dec. 8. Pl Bar gold advanced 1 penny to 141s 9d (sterling price equivalent to 134.79), WASHINGTON.

Dec. 3. (PI The position of the Treasury on December 1: Receipts expenditures balance $1,402,. customs receipts for the month $1,799,556.30. Receipts for the fiscal year (since July 1), 'expenditures' $3,898,844,201.75, Including $1,182,712,832.58 of emergency ex- Fendltures; excess of expenditures, gross debt a decrease of $3,414,429.60 under the previous dny; gold asset $11,186,402,402.00 NEW YORK, Dec.

8. (P) Bar silver easy, loweTat 46." NEW YORK, Dee. 8. UP) Calr money teady; 1-per cent all day; pvrime paper per time loans steady 60 days-6 mos. 1 per cent offered; HankerR' acceptance unchanged; rediscount rate, N.

Y. Reserve 1 per cent. 1 1 40 0 60c. SPINACH Large orate, 70Q90oj few tl.OO; half cratee 40 60c. nniLDitiD Ihwly modernized offices and now ready for occupancy.

Attractive rentals. SUUA8H-1 A. lug-e, Italian. 5 A. M.

to 1:00 P. M. below the peaks of last week. In the short French combing original lines of fine territory wools it was more dofflcult than a week ago to secure $1.00 scoured basis, recent sales ranging mostly 971.00. COTTON RANGE NEW YORK, Dec.

8. W) Futures closed steady, 2 higher to 3 lower. Low Last December 12.28 12.11 12.2512.26 January 12.09 11.97 12.08 March 12.05 11.94 12.04 May i 11.95 11.83 11.90 July lOO 11.66 11.78 October U.36. 11.22 11.34 Spot steady; middling 12.64. COPKKK NEW YORK, Dec.

3. (IP) Coffee, spot firm; Rio No, 7, Santos No. 4, llHiig)ll. Cost and freight- offerings included fiantoa Bourbon 8s and 6s at 10.45t0.70. Rio futures closed stendy, 2 lower to 3 higher; March 6.93; May 7.02N; July 7.10; Sept.

7.16. Santos futures steady, 11 higher to 1 lower; Deo. 10. 19N; May 10.UB; July 10.14; Sept 10.17., Bid, Nominal. 44.7 21.6' 23.9 75c; No.

2, 40060c; Rummer, 75c 11.00: Crookneck, 76085c; Table 1932 low. 18.9-. 184.3 "157.7 .1929 Queen, 4050c; Banana, Southern California, ielti Hubbard, 10 101.1 98.9 102.9 100.5' le. ....1928. 81.6 95.3 61.8 61.8 low.

SWEET POTATOESVNew eroo. Merced, fancy, 2tci choice lo. BACKED VHGETABLES Local carrots, 85cS1.10: beeta 66076oi DOW, JONES AVERAGES, DECEMBER 3 30 Industrials High 181.92 Low 179.90 Last 181.29 20 Railroads High 543 Low 54.28 Last 54.57 20 Utilities Low 35.16 Last 35.33 40 Bonds 105.69, off .03. Up 1.04 Up .24 Off .03 Waehlnaton Rutabaaai 11.6001.66. ton wrapped, 6x6 and 8r6, 61.6o1.26, few.nignar, orainary Bttf bc, poorer galee I I Ii 1 I 1 'luw 27Am iTf IBTTTSS 14 1190 81101 Anglo Corp 22 22 22 71Atls UtU Crn 16 18 16 6 do pf 49 49 49 10 Ark Oas A 6 6 6 12365 Bncam-tllalr 12 11 12 100 Bolta Chlca 8 8 8 25 Cal A Tile 8.76 3.7S 6 Cal Ore 6 pf 92 92 92 800 Card Gold 91c 81o 91o 841 Cit Ser Co 3 2 400 Cld Neon Lts 90o 90o 20Con Oil 1313 18 '100)Con Co In A 1.60 1.60 1.50 510Clirtli Wright 6 6 8 1200jCent Eureka 30c 80c 80c lflftlOen Molals 23 23 300'Holly Devel 90c 900 90o lOIlnnokea Sua 14 14 14 lonlldaho Md Mns 7 7 1' JkJJiltiiPetCrpA (( lie 6a Snl-s iHiKh! Low 40261 do pf I 4.30 4.20 4.20 2ti0fnt Cinema ,1.35 1.351 1.35 4600Klnner A 56c 54o 56o ino.Mtinaei'0 Mfg 4.25 4.25 4.

IT) lBflOJMt City 12) 12 I 12 100IN Am Avla 12 12 12 100 Nlag Hudson 17 17 17 30 Occlden Pet 42o 420 42o 50 Olaa Sugar 14 14 14 Pao Aggreg- 3.45 8.45 3.45 60 Rad Crp of A 11 11 11 Cm 15 16 15 40So Cal Ed pf 28 28 38 74 Tt do com 80 80 30 a5IHo Cal Kd 8. 27 27 27 91'Sou Cnl Edls 1 30 30 30 50 Stand Brands 16 16 16 2.40 2.85 2.36 415IVIC Equip rtS 38o J0 380 200 do rts I 88c 38c 3Sc 805 Warner Br IT 16 I 16 ower. Ban Luis Obispo 6xs. si.000 few 11.25; 6x7. 760850.

eoorer 4050p. Zm REPORTS COMMODITY AVERAGES NEW YORK. Dec. weighted wholesale price index of 35 commodities: Todav 85.44, previous, day 85.56, week ago 84,77, month ago 84.45, year ago 78.01. 'Range of recent years: (1926 average equals 100.) 1035 1935 1934 1933 High 85.56 78.68 74.94' 69.23 Low 71.31 71.84 6li3 "41.44 co.

"rt Siatt jot iiber Fi'Ti HKa NEW YORK. Dec. 3 Crude ai'fMR FIJTl'HEa NEW YORK, Dec. 8. (iP) Stiscar futures No.

rloeed ay, I to 6 lnwer. SiiIpi 8400 tone. Jan. t.SOB; March 2 Jlsy 8.84B; July I.66B; i b. rubber futures closed barely ateady, Oakland dearinRR 2.001,300 3 to 4 lower; Dec.

18.59; March Last, ye.nr 2.015,800 18.69B: Mav 18 B7. iBerkeley debits 1,193,974 Smoked ribbed spot 18.63N, Los Angeles debits. 40.T61, US Bid. Nominal. Saa Francisco 26,900,000.