The Pittsburgh Press from Pittsburgh, Pennsylvania • Page 64

OTHEB DEPARTMENTS. COPBT S45Q -THE PITTSBURGH PRESS- WAJfT AD mrTOrABTERS. COURT 4PQO SIXTY-FOUR Pittsburgh Stock Market New York Bond Market Transactions 1929 High Low Low Close? Sales fin l.Q0O NEW YORK Following is a mptd list ol bonds trs1-d in today on the ew 12 4 DECEMBER PACKARD SEES NORMAL YEAR No Cancellations or Repossessions, Peters Says. York Stock Exrhanire: BOARD BLAMED fORDEGLINE Federal Reserve Board Caused Market Crash, Durant Says. 7 Fed 6 B54 P2 B2 93 1 do 1st 6 42s.

95 95 95 1 Feder Met -Y 7s.39.100 lOO lOO ISFior Cst 5f74. 65 63 53 V. S. GOVERNMENT BONDS. LOCAL LEADERS MORE ANIMATED Prices Maintain Generally Firm Tendency in Spite of Irregularities.

Am Austin Car 1300 Arkansas-Gas 1065 Blaw Knox 235 Copperweld Steel 330 Devonian Oil 200 AM. BANKNOTE HAS GOOD YEAR Should Earn Third Quarter Net $1.42. 3 6 30 41 2 (Decimals represent 32nds: 101.31 means 101 31-32. Clos Hih Low JH fin 1,000) Ist5s31.100 100 100. 4 Gen Cable 5s47.

99 98 98 15 Gen Mtr Acpt 637.101 101 1014 5 fn Petrol 5. 4O.101. 101 101 l9.6 "8 Lib fit) 7 00.4 Inter Rustless 13145 Koppers 10 Lone Star Gas 2735 95 95 95 28 Lfh 1 4 Hi 47. 106.25 5 Mb 1 4's'47 rr.ioo.20 10O.20 10O.20 42 Lh 4 4b 101.17 101.13 101.14 17 Lib 4 4 Ws'38 rr. 101.12 101.13 101.13 BlftTrras 44s'52 ...113 111.2M 111.30 3U Tress 4s 54 108 107.2 107.30 25 Trras 3,.

56. .104.30 101 .10 104.30 4 Tress 3 s'47 1MI 26 lOO 3 Tress 3 '43. 100 Kfl.26 lOO Last Sale 5 8 33 49 11 2 99 36 105 35 53 19 27 2 15 40 26 40 43 315 165 Prev 6 8 33 51 11 2 99 vs 35 105 37 53 19 27 2 15 41 26 40 43 310 170 Low 5 8 33 49 11 2 99 34 104 35 53 19 27 "2 15 40 25 40 43 '315 165 High 6 8 33 49 11 2 99 36 105 35 53 19 27 2 16 40 26 40 43 315 165 5NGen St rast5s49.102i lOl 101 "Godrh BF 6s7.10fl 105 105 69Gdver TR 92 914 Pl 1 Gran! Trk 6s 36 1 04 1 04 1 04 6 Gt North 7s 36. .110 110, 110 1 do As 73 105 105 105 IGulf St Stl 5s42 98 98 98 25 Gulf 6s50. 98 07 88 ref 657...

7. 96 8 '63 80 17 9 103 68 4 105 41 75 30VL 36 5 19 54 46 80 44 330 208 Trading seemed to be a little more animated today on the Pittsburgh do pfd 95 Nat Fire Proofing pfd. 22 Pittsburgh Plate Glass 50 Pittsburgh Screw B. 60 Plymouth Oil 100 Salt Creek Con Oil 500 Shamrock 1050 Utd Eng Fdy 65 FOREIGN BONDS. By The United Press.

NEW YORK A copyrighted article by Earl Sparling in" The New York Telegram today quoted W. C. Durant, the stock market trader. in An arti 5a 57... 77 77 7 I Stock Exchange.

The list showed a NEW YORK The American bank Note Co. is completing the best year of earnings In its history, fourth quarter net on 593,430 common shares approximate the same as for the third reriod. i 42 a (haw 4 Anitoquia 80 29 Hudson CI 5s 62. 70 69 69 104 4 28 50 18 22 24 13 35 20 31 40 302 155 3 Anlioquia 7 57 2. 76 1 9 Ars-pntine general broadening tendency shortly after the start, although the increased volume of business did not precipitate any strong forward move West Pub Ser 2385 P8H B5S.

08 6sJun'5 MS1! OfOrt ol Wi 6.5op,60 J8i JnOct'HO Wm bringing the year's total to about a i 80 76 98 4 P8 4 98 98 99 9i 98 98. 98 4 93 93 79 76 98 HS Vi 98 PK4 98 98 98 "4 98 98 4 93 Va 93 14 Argentine 66 Argentine 10 Art-entme 1 Argentine 57 Argentine 41 Argentine 10 Aritentine Witherow Steel 225 do NR 35 Colonial Trust 10 Peoples Pgh Tr 9 Feb'6l 8 50 Argentine 6sMay'61 H814 DETROIT The Packard Motor Car Co. will go through the winter months with substantial production and is planning for normal business in 1930 according to H. W. Peters, vice president in charge of distribution.

"While the normal seasonal decline of business has been somewhat accentuated by recent market break, Packard dealers have not received any cancellations of orders as a result of this disturbance. Nor has it been necessary to repossess any cars, new or used." said Mr. "Retail orders in the first 10 days of December exceded actual retail deliveries the first, time In over a month. Dealers' stocks of new cars are the same as they were a vear 15 Arrentine 6 His' 62. t4 Biiare.

comparea witn S4.21 a share In 1928. M. St. Panl. Chicago, Milwaukee, St.

Paul Pacific earned $1.91 a common share In the first 1C months of 1929, against $2.60 a share in the same period of last year. MtTW VODir xt i 54 AiiHtralia 5s'55 93 20 Australia 5a57 03 23626 NR Negotiable receipts. 92 93 xEx-Dividend. Unlisted. Pittsburgh Curb.

Closing Quotations. Bank Stocks Allegheny Trust as saying that the recent crash in the stock market was "directly blamable to President Hoover and the Federal Reserve Board." The article quotes Durant as saying: "We might as well -tell the truth and put the blame where it belongs. It's up to Washington now. We have stepped aside. The market is leaderless.

Eventually we will take control again but not until something is done to limit the Federal Reserve Board to the functions stated in the law that created it. Those functions are to stabilize money rates and prevent panic. It did neither. Call money, jumped to 20 per cent and the worst crash in history resulted." Sparling's article also said that shortly after inauguration of Presi- 16 Humble s.y iui -n iui -n 1011 fl VI Bell 1034 1034 "ill Cent 6s36 ..108 108 108 7 111 Cent 4 66. 99 98 99 III Cent 4s 63 88 88 88 5 Tnd Limeston 6s 41.

73. 73. 734 1" Inland Ptl 4s 78. 92 92 92 17 Inter Tr re 5s 66. 63 62 62 15 do ref 5s 66 std.

62 62 62 lint Arr Che 5s 33. 93 93 93 "0 Inter Cem 5s 48... 96 96 96 21 In Gt No ad 6sA52. 874 87 87 1 do 5s 56 94 94 94 24 Int Match 6s 47 re 98 97 V4 98 4 Int Paper 5s A 47. 91 91 91 V.

109 Int 4s 52. 94 93 94 85 do 4s 122 127 2 KCFt5M 4s 36. 94 94 94 1 Kan Cv Lt 552..103 103 103 4 Kan Cv Sou 3s 50. 76 76 76 1 Kan rr Ter 4s 60.. 88 88 88 10 Kress Fnd 6s 36 .102 101 103 SLackaw Stl 5s5010i 101 101 1 Iecled Ga 5 53.103 103 103 6 Lautaro Nitr 6 54 82 814 83 1 Le Vv RR 4s 2003.

88 88 88 2 Lehi Vy 1 5s 33.. 99 99 99 5 Lone Island 5s 37 97 97 97 ISLoril 5s 37.. 88 87 87 12 Louis 5s 52.1 02 i 1 02 1 03 1 7s SO 100 10O 100 6 do 5s 2003... 105 105 105 4 do 5a 2003 103 103 103 4 Manati Sutr 7s 42 634 62 62 4 McCor 6s 100 100 9 McCrory 5s 41. 97 9fl 97 1 Midvale Ptl 5s 36.100 loo mo 1 MPP SSM 5s49 86 86 86 Bid 25 Ask .30 I 'Bank of Secured Savings.

Colonial Trust Diamond National 'First National at 102 4 Austria 7s'43 103 103 103 65 Pat ePt 4 '4 43. 93 3 6 Helirium 8s 41 ...110 109 10 14 Belgium 7s'55 108 i 108 i-i 108 lOBolrmm 7s'56 lmiV 105 74 106 23 Heluium 6'55 ...101 IcWHilOttS 29 Merlin 6s'58 90 89 14 Berlin Klc- 6s'51 89 89 89 4 Berlin El 6 4s 56 87 86 87 11 Berlin flVis'69 89 88 Ht 89 5 Brnrota 8s'45 97 i 97 s. 97 i 22 Bordeaux 6s. 102' 102 62Bra.il 8s. PS' 98 98 V.

37 do rt'ss. '26-57. 78 77V. 78 34 do 6 His, 78 H. 77 77 3 Bns City 5s.

90 90 90 4 do 5s. '58 89 89 Vi 1 Aires 6. 'is. 101 101 37 do 6s. 61......

83 i 88 Ts 89 4 35 55 34 240 ago." by United Gas Co. have passed i 000.000 cubic leet daily, according to i officials of the company. Sales for i the first 10 months of this year were 37,400,000,000 cubic feet, com- pared with 42 676,000,000 cubic feet sold during the entire year 1928. Oppenheim-Collins. Oppenheim-Collins reports sales for three months ended Oct.

31 of $3,990,868 comparing with I ment, due to a general leeung ol caution upon the part of operators. Fuel leaders again were prominent, with Lone Star Gas and Western Public Service in the front row. Arkansas Natural Gas preferred was active and steady, Lone Star preferred, with Shamrock Oil Gas remaining quiet. Shamrock registered fractional gains. Koppers Gas preferred was little changed and Plymouth Oil sold at a concession, Devonian Oil maintaining a firm tone.

Industrials in Demand. There was-some buying in Blaw-Knox, ex-dividend, around 333, the former level. Witherow Steel, negotiable receipts, early, was quoted at 43 Copperweld Steel, United Engineering Foundry and International Rustless Iron were under slight pressure. Peoples-Pittsburgh Trust, ex-dividend, was lower. Colonial Trust selling at an advance of 5 points.

These securities were quoted ex-dividend today: Jones Laughlin preferred, Donahoe 25c and 10c extra; Salt Creek Consoli STOCKS. Phoenix Oil Sloan Sz Zook Producing do7spfd MacBeth Evans Glass Aluminum MfK Penna. Savings Arkansas Gas A. i. Apollo Steel Sterling Investment Leonard Oil Penna Bradford pfd Molybdenum Corp ol America.

General Homes pfd Natl Union Fire Am. Window Glass ntw SALES. Hieh 200 The Aviation Corp. 6 100 Marine Midland 37 100 Lehmann Co 74 (Curb Bonds.) 23 36 3 63 6 is 1 3 Chicago Rate Unchanged. CHICAGO The Federal Reserve Bank of Chicago has made no change In its rediscount rate which is 4 per cent.

84 'i 84 4 faldas 7'is. '46 14 Canada 5s, '52. 10 2 Vi 10 2 Low close dent Hoover, Durant made a secret 10 do 4Hs. '3. 98.

6 1 Canra Vai 88 i ,7 37 4 Chile 7s. '42 .102 the similar 1928 period. The 1928 figures include sales amounting to $124,626 of. the Newark Store, which was discontinued July 1, 1929. Interstate Department Stores, reports sales as follows: 4 7 4 3 Mo Kan 5s 67..103 103 103 102 101 1(12 We recommend trip to Washington and tnere warned the President that the stock market crash would be forthcoming unless the Federal Reserve Board was forced to cease "its attempts to curtail brokerage loans and security credit." Bid.

Ask. 355 170 310 325 600 395 315 1U 165 600 5 5 9 8 63 65 33 33 4 6 30 88 13 15 11 17 18 .35 30 100 35 35 4 8 1 4 .35 10 3 53 18 27 .03 41 45 13 42 40 67 17 49 14 2 105 15 16 29 264 54 66 95 '39. Bid 97 93 Dilworth. Por tc. Co 6s, 84 '4 102 98.

88 101 91 91 Vt 91 91 'i 96 i 94 88 25 76 72 73 92 96 89 Follansbee Bros Co 6s. '4 92 91 91 '61 91 '61 96', 94 T. 88 51 25 61.. 764 '47 73 22 do 5s A 62 5 do 4s 62 2 do 1st 4s 90 24 Mo Pac 5s 49. 19 do 5s 77 11 do ref 5s 78 15 do een 4s 75.

1 4s 45 25 Morris Es rf 3 16 do 6s. 7 6s. 5 do '62 7 do Ry 6g Jan, 4 do 84 3 do 612g. '57 4 do 6s, '61 5 Chinese Ry 5a. 2 Columbia 6s.

2 Col A 6s, 12 do 7s. 8i4 88 "4 101 91 PI 91 91 96 94 7 88 is 25 76 72 72 92 95 88 88 88 88 88 87 88 109 108 109 99 4 99 99 '4 99 4 99 i 76 75 76 86 86 86 78 4 78 i 78 Knr, 1B2P 1828 Frick-Reid Sup Corp 6s, '43 98 2.451. 597.34 2.250.321.04 Keystone National Peoples-Pitisbursb Union National Miscellaneous Stocks American Austin Arkansas Gas do pfd Armstrong Cork Blaw-Knox Calorizinfr Co. pfd. Carneeie Metals Clover Splint Coal do pfd D.

L. Clark Devonian Oil Donahoe's A Duff-Norton Joseih Home Koppers Gas Coke Lone Star Gas McKinnev Mfe Penn-Federal Phoenix Oil Gas Pittsburgh Brewinsr Pittsburgh FnrsrinsB Pittsburg-h Oil Gas Pittsburgh Plate Glass Pittsburgh Screw Plymouth Oil San Toy Mininir Standard Steel Spring- Suburban Electric TTn'on Storage Fnited Eng. Foundry. Vanadium Alloys Steel Wiser Oil UNLISTED. Copperweld Steel International Rustless Iron.

Lone Star Gas pfd Shamrock Oil Gas Western Public Service t. c. BONDS. Independent Brewing 6s. West Penn Railways Ex -dividend.

276.30 Or 8.94 i .522.139.902. 50 17.U72.417.47 lMut Fu 5s 47.. 101 101 101 Grant Building 7s. '47 A Hanna Co 6s. "34 96 A Steel Corp 5s, '39 102 Kauf Dep St See Corp 90 Kop Gas A Co 5 s.

'50. 99 Mackintosh-Hemph Co 6s. '49 87 MK'linct-Mar Co 5s. 32-37. 99 McKinney Mfg Co 6s, 97 73 Increase Eleven months, 1929., Eleven months, 1928..

Increase FORD of FRANCE 1 Cod Tel 6b 92 Ask 99 95 99 87 97 103 93 100 90 101 100 92 90 83 96 100 101 87 100 25 Copenhnen 5s. '52. 96 9 do 4'jfc '53. 89 4,167.485.11 69 7Cundmrca 6Vjs. '59 70 70 National Fire Co 6s.

88 51..10914 1084 100 OCzpohlvak 8s, 1 do 8s, '53 dated Oil, 10c; D. L. Clark, 31ic; National Fireproofiing, Clover Splint Coal preferred, National Erie 50c; Blaw-Knox, 30c, and Pittsburgh Steel Foundry preferred, $1.25. Bank of Pittsburgh, N. was ex-dividend of $1.50 a share and Peoples-Pittsburgh Trust was ex-dividend of 80c.

.108 108 108 64 Nat Da Pr 5s48. 98 97 98 5 NOTiM 5s 56 98 98 98 11 NYCent deb 6s 35..105 195 105 39 do ref 2013.. .105 104 105 3 do ref 4 13... 99 99 99 35 do deb 4s 34.... 97 97 97 6 NYC4S1L 6 31 lOl 101 7 do deb 4s 31 99 99 99 5 NYConnRy 4s 53 98 964 964 NYDo- 1st 4s 51.

82 81 81 25 NYEdison 5s 44 103 103 103 4 NHA-H Con R.vs4s55 68 68 68 23NYNH4H 4s 67 92 91 914 LOCAL UTILITY CO. GETS GASCONTRACT Western Public Service to Supply Am. Smelting. 87 80 93 99 99 84 95 98 95' Circular on request. Okla Nat Gas A 6s, '46 do 5s, '48 Penn-Federal Corp 6s, Pgh Coal Ci 6s.

'49 Pgh Cruc Stl Co 6s. Pgh Hotels Corp 6 Pgh McKpt A Con 5s. Pgh Prk Gar Inc 6s, '45 Pgh SAB Corp-5s, Pgh Steel Co 6s. '48 Pgh Steel Fdr.v Corp 6s. Porter Co 6s, '46 South Pgh Water Co 5s, '55.

97 1 do cv 3s 56. 77 77 77 33 NY St Ry 6 62 25 23 25 101 102 101 102 27 NY St Ry 4 62 95 23 24 95 1 Dan Mn 8s 1104 1104 1 Dutch In 6s 1014 1014 4 do 6s '62. 103 101 103 5 do 5i Mar '53. 101'. 4 101 V4 101 Vi 7 ERR (Fr) 7s '54 104 104 104 1 Finland 6s 93 92 82 14 do 6s '58 85 844 844 1 Fin Mn 64s A 54 91 91 91 1 Rram In 7s "42.

104 104 4 104 41 French 7s 118 117 118 39 do 7s '49 110 110 110 4 Ger At Bk 7s '50 92 92 92 7 do 6s July 79 78 78 4 do 6s Oct 79 78 79 9 do 6s '38 85 84 85 4 Ger 6g '50 91 i 91 -i Ml 90 95 do 5s. '60 Western Public Service Co. an D. Gleicii 6 Co. Union Bank Building, Pittsburgh, Pa.

93 93 94 100 05 85 NEWSPRINT PRICE ADVANCE STANDS Report Raise Will Not Stand Is Denied. Spane. Chal A Co 6s. '48. Superior Stl Corp 6s.

'38 Ward Baking Co 6s, '37 West Peen R.vs 6s. '31 West Penn Trac Co 5s, '60. Wheeling Trac Co 5s. '31. Witherow Steel Corp 6s.

'52 07 95 05 06 101 88 95 98 90 08 COTTON FUTURES AT LOWER LEVELS nounced today that it has closed a contract with the American Smelting Refining Co. for the sale of 7,000,000 cubic feet of gas daily, to be used as fuel at the Murray and Garfield smelters of the American Smelting. Telephone COurt 03 06 1 rf 5 37 85 85 85 15 NY Tel rf 6 41... 107 106 106 1 NY Tele 6 49 lloi 110i 1104 4 Nor rf 5 61.. 58 58 68 12 Nor dv 4 44mfw mf mfw mfvpao 2N Wst div 4 96 924 92 924 16 Nor A Edi 5 63.

.102 101 4 101 25 Nor Cen Ry 4 A47 984 984 98 ft Nor Ohio Ry 5 45. 02 92 92 12 Nor Pac rf 5 2047.1124 112 112 1 Nor Pac 4 2047 98 98 98 43 Nor Pac 4 97 90 90 90 5 Nor Pac 3 2047 64 64 64 7Nr States Pr 5 41 A. 192 102 102 1 OitiT.k Chm 4 48. 75 75 75 8 Ont Pr NF 5 43.101 101 101 2 Or-W 4 61 .101 1004 100 101 103 Pgh Westmoreland Co 5s, '47 85 Clark Co 6s, '44 (w w) 95 1 ier Mn Kl 7s 45.103 7 do 6s '48 91 90 91 94 94 91 91 4 98 88 6 Graz (Mnl 8s '54 94 3GCEPJ 6s 914 4 Greek Gov 7s '64 98 V4 Or 2J.18 T. International.

I International Tel. Tel. So. arned 99c a share on 5,854,141 Bhares In the third quarter, 1929, against 90c a share on 4,227,969 in the like 1928 period. In 9 months the company earned $2.33 a share against $2.46 a share last year.

Western Union. Western Union Telegraph 1929 net earnings are estimated at about $16,000,000, by Newcomb Carlton, president. This would compare With net of $15,373,669 in 1928. Claude Neon Lights. Claude Neon Lights, reports business of Claude Neon associated companies in November reached the record figure of $1,842,509, about 50 per cent in excess of November, 1928.

I Williams Oil-O-Matic. Williams Oil-O-Matlc heating year ended Oct. 31 net income $4,653 after all charges including taxes against $450,057 In the previous fiscal year. Scott Paper Co. Scott Paper Co.

reports for the 47 H'eeks ended Nov. 24, 1929, a surplus of $684,981, after charges, taxes and preferred stock dividends, equivalent to $4.47 a share on 153,000 no par shares of common stock. This compares with a surplus of $552,943, or $3.61 a share on the above number of common shares in the corresponding period of 1928. Odd Lot Quotations. I Hungary 7s- '44.

101 '4 101 10114 Prices Decline in Moderately Active Trading. 93 86 mm nn 1 -o h.i v. 1 do 7s '46 86 86 2 Int Ry Cm A 5s '72 77 77 102 100 95 100 83 15 Pac Gas El 5 42.102 102 15 Pc Pr Li 6 30.100 100 1 Pan-Am 6 40. 95 95 3 Param Bwy 5 51.100 10O 1 Parmlce 6 44.... 83 83 13 Pathe Ex 7 37.

41 40 2 PaDix Cm sf 6A41 72 72 3 Ital Ph til 7s '52 92 4 25 Italy 7s 51 95 924 84. 32 240 40 14 11 31 Bv The United Press. 77 924 95 102 76 40 72 7' .102 102 77 76 45 Japan 6s 7 Juro Bank 7s. This contract represents the largest single industrial contract ever made by Western Public Service. It i was stated that it would be neces-j sary to build several miles of either 10 or 12-inch pipe before both of the smelters could be supplied.

The time necessary for the construction of the pipe line would be short, company officials say. i The company also announced the acquisition of the Aspen Mountain I Gas Co. from the Ohio Oil Co. The I Aspen Co. supplies Green River and several other towns in Wyoming, i A franchise for 50 years to supply i gas to Provo, the largest city in MONTREAL Asked regarding reports in Toronto and New York that Canadian newsprint producers will not increase the 1930 newsprint by $5 a ton, as leading companies had announced, L.

R. Wilson, vice president and managing director of Abitibi Power Paper said to Dow, Jones, today: "The statement of our president that we will increase prices by $5 a ton to $60 for 1930 still stands." P. B. Wilson, head of the Newsprint Institute of Canada, when asked regarding the reports, said: "I WANTED. 50 National Fireproofins' 3 Mesta Machine 5 Witherow Steel NR 50 International Rustless 21) T.

L. Clark 5 Devonian Oil 70 Joseph Home OFFERED. 50 Armstrong Cork 20 Salt Creek Qons. Oil 48 Wiser Oil 5 D. L.

Clark 25 National Fire'prooflng 10 Allegheny Steel 15 William Zoller 2 American Austin Car 93 94 180 KreueerATol! 5s 59 94 1 Lw Austria 7s 60 94 12 Lyons 6s 34 102 61 Penn 7 30 1014 100, 100 11 Penn 5 64 103 103 103 33 Perm 44 63.... 98 98 98 9 Penn con 4 60.. 100 100 100 26 Penn pen 4 65 98 09 98 3 Penn con 4 48.. 93 92 93 94 94 102 4 102 17 Marseilles 6s 34... 103 102 103 65 2 18 15 37 60 46 26 PenODeRR 4s 77 96 95 96 1 5s 74.101 4 101 101 1 Medellin 6s 54..

714 14 Mex 6s 33 small ast 18 3 Mex 4s 04 11 21 Milan 6 62 86 65 Phila Co 5s 67.... 98 98 71 714 17 18 11 11 86 86 984 14 Coal 6s 49 96 95 2 do 5s 73 84 84 NEW YORK Futures on the i local Cotton Exchange eased to the i previous levels after early strength in moderately active dealings to- day. However, there was no heavy i pressure exerted on the market and most of the business seemed to be of an evening up nature for over the week-end. The weakness in stocks brought in sympathetic selling from Wall Street. Spot houses also sold.

Trade buying orders on the scale down, however, supported the market. Switching continued but on a smaller scale than in the previous i session. Hedging was light. 95 84 NR Negotiable receipts 31 Philp Pet 5s 39. 92 92 9 ror Rvs as- 50.1024 1024 1024 1024 103 g4 know of no intention on the part of I Canadian companies who have in- Norway ns i-l 10 do 6s 52 102' 1 Foca Col 5s 57.

94 94 5 Purity Bak 5s 48. 96 96 102 102 PITTSBURGH SECURITIES We specialize in all Pittsburgh Securities, both bonds and stocks, whether listed or unlisted and a prepared to quote accurate and reliable markets and to furnish reports and statistical infor- mation. Inquiries Invited Mclaughlin Member Pittsbur Stock Exchange CLARK BUILDINO WTTStURGH Utah, south of Salt Lake City, has been made available for Western .100 100 100 do 5s 63 22 do 5s 63 MINING PROFITS RISE 96 96 90 i 27 Reading 4s 97.. 97 97H 974 3 Remin Arms 6s 37 96 95 96 1 Kepub Brass 6s 48.101 101 101 Public Service. This, coupled with 4 Minas 6s ets.

78 creased their prices to reconsider 1 their action. The story appearing 1 in a Toronto paper was entirely In-. correct." 77 94 89 84 47 Richfd Oil 6s 44. 99 984 99 9 Nor Mil Bk 5s 67. 94 17 Nr Hy El 5s 57.

90 7 Nuremburr 6s 52. 844 Seventeen Companies Report Gain of 57.34 Per Cent. 94 90 844 95 88 the fact that the company recently applied to the Idaho Public Service i Commission asking for franchises in a number of southern Idaho cities, indicates a comprehensive expansion program, it is said. 2 RochesGA-E 7s 46.107 107 107 33 Rk IsArAL 4 34 65 95 4 85 4s, 9. .100 100 1O0 6 4s 33 954 954 95 16 StLMBi idee 5s 30.100 100 100- UNITED TRACTION ASKS BOND DEPOSITS 16 Oriental Dev 6s 63 95.

94 27 do 5s 58 88 87 8 Oslo 6 46. 99 99 Cotton range: High. December January 211 St 4g A '50 88 87 88 Noon. 17.05 17.10 17.40 17.68 17.82 17.74 Low. 17.00 17.04 17.35 17.60 17.76 17.68 FEDERAL RESERVE BANK OF CLEVELAND i inarch 17.05 17.15 17.44 17.70 17.85 17.76 Committee to May July October 58 do 4 A '78 90 89 4 90 7 do 5s '50 1014 101 101 18 St So con 4s '32 98 97 98 1 4 Ha '41 '04 944 944 2 San A A 4s '43 92 92 92 Urges Bondholders Co-Operate.

19Paris-Ly Med 6s 68.101 101 1 Petnambuco 47 80 80 1 Prue 7s 1959.... 944 944 12 do 6s "60 78. 764 17 do 6s '61 78. 78 6 Poland 8s '50 .81 4 -81 .47 do 7s '47 83 6s 76 "75 6 Porto Aleg-re 7... 93.

92-' SPrarue 7 Ma 104 89 101 80 764 78 91 4. 834 75 92 104 108 Statement of condition at close ol busi 1 1 9 6s '8S Iflff ness iJfcc 11. 1929. 4 -z---r Liverpool. Due Open.

High. Low. 0.15 9.14 9.14 9.12 9.12 9.18 917 0.18 0.15 9.15 9.27 9.26 9.27 9.24 0.25 9.35 0.35 0.35 0.33 9.33 9.40 9.40 9.40 9.38 9.38 Seventeen mining and smelting companies have reported profits for the first nine months of 1929, 57.34 per cent ahead of the corresponding period 1923, according, ta. Ernst Ernst. 1 1928'.

Ahumada Lead 118.128d American Metal 2,566,126 1.890.560 Butte Copper Zinc 162.906 132.108 Butte Superior Mining .37.886 48.020 By The United Pre. NEW YORK Concerted action British Imports Less. LONDON British imports In No- j. vember totaled 108,217,000 pounds. I against 110,628,000 pounds in October.

Exports were 63,124,000 pounds, against 64,589,000 pounds in Octo- ber. RESOURCES. I 1 In thousand of dollars. Gold with Federal Reserve Agent. 114,900 May Gokl redemption fund with United 11 Queensland 7s 108 on the part of all bondholders isj urged by the committee bondholders of the United Traction Co.

of Al- bany, which today asked that all holders deposit their bonds with the 99 91 91 78 99 91 91 78 102 J.I('d3(li.v Gold held exclusively against Federal Reserve notes 121.303 Gold settlement fund with Federal Reserve Board 84.923 Gold and gold certificates held by bank 40,052 Total gold reserves $246,368 Reserves other than gold 6,716 COMMERCIAL CREDIT TO FINANCE RADIOS 4 Rhine-fn '7s '46-w. 99 24 Rhine Wes 6s '52. 91 4 Hima Steel 7s '55. 914 47 Rio de Ja 6B 79 16 do 8s '46 102 14RioGr doSul 8 10 do 7s '66 83 17 Rome 6s 88 101 Calumet Hecla Cons. Copper 1.904.360 99 100 83 83 88 88 Closes Contract with- Stromberg-Carlson Co.

19 Soa Paulo 8g 100 101 1 do 6s '57 83 83 83 15 do St 8s 50... 96 93 93 5 do 6s '68 73 4 73 73 2 Paxn Pb 7s "45. 94 94 94 27 Seine 7s '42 107 1064 107 7 Ser Croat Plo 8s '63. 87 86 86 27 do 7s '63 77 76 76 14 Shiny Pw 6a '52. 004 904 904 25Siem Hal 7s 03 1 02 103 Total reserves $253,083 Non-reserve cash 3,639 Bills discounted.

Secured by United States Government obligations 55,271 Other bills discounted 47.503 Total bills discounted 102,774 Bills bought in open market 27.470 U. S. government securities: Bonds r- 2.087 Dome Mines, 1.673.649 Englea Copper Mining 396,847 Evans-Wallover Lead 374.880 Granby Mininr, Smelting Power 3.176.886 Hecla Mininr 1,478,796 Howe Sound 2.959.001 International Nickel 16.865.753 Magma Copper 2.592.576 Nevada Cons. Copper 16.028,183 The Stromberg-Carkon Telephone Manufacturing Co. has entered into a contract with the Commercial Credit Co for the retail time-sale financing of their radio products through more than 2,500 dealers in 2WcV 6Hs A '46 60 60 34SeaAL.

adj 5s '49 ctf 48 48 48 4 do ref 4s 67 57 67 63 Sea All Fl 6a A '35 70. 694 694 20Sh-T7n 5s '47 ct 96 ttrt 96 Pw 5s '49 994 99 99 23 Sincl Oil 7s A '37. 101. 101 4 101 13 do 6s '38. .100 100 100 12 Sincl Cr 6s '38 97 07 97 1 So Col Pwr 6s 103 103 6 So Pac cv 5s 101 101 33 Ore 4s A '77 97 97 97 5 do 4s 954 05 95 31 do 4s '69 984 98.

98 13 So Rwy 6s 122 122 7 do 6s '56 117 116 116 65 do gen 4s 89 89 i 894 17 Bell 5s '41 nw. 1014 101 101 9 St Oil 5s 1024 103 13 4s '51 97 97 97 60C '79. 1O0 100 lOO 14 Third Av ref 4s'60 51 50 50 9 do adj 5s 27 26 26 5s'30 100 100 100 8 5s 09 i 99 094 11 Un Pac 1st 4s '47 94 93. 93 30 do 4s '68 88 87. 874 4 I'nited Dru 5s '53 95 95 95 45 Rub 7s '30 100 100 100 6 do 5s '47 84 83 84 3Ttah 5s '44 102 99 100 4 .6 s'47 89 89 89 8 Wabash 5 75.

.103 102 102 6 do 5s 76 100 99 09 5 Walworth fl 35.. 93 03 93 34 Warner Su? 7s 41. .101 101 .101 13 Maryland 4s 62. 80 80 80 4 West Pac 5s 46 07 96 96 2 Penn 5sF53.103 103 103 1 do 6s 63 103 103 103 lWest Union 5s 38.. 102 102 102 1 do 5s 61 103 102 103 5 Va 6s 60.

13 13 13 47 Wheel Stl 4s 53. 87 87 874 1 Wh Eatr Oil 5s37.1O0 lOO 1O0 10 Willys Ov 6s 33.. 100 100 100 1.334.529 89,923 280.873 2.106,213 986.104 1.894.554 8.304.771 1.428.968 10,368.093 6,444.928 3.S95.455 36.. 101 100 100 Treasury notes 11.230 Certificates of indebtedness. 4.259 i 6 Soissons 6s 7Switzer 5s 103 103 103 Central Hanover Bank Trust Co.

as depositary, or the Troy Trust Co. of Troy, N. or the Mechanics Farmers Bank of Albany as sub-depositaries. The committee, formed to protest the several offers of the Associated Gas Electric which controls the property through stock ownership, stated that the action recommended is necessary for the protection of the properties and to prevent any impairment of the lien of the consolidated 4 la per cent mortgage bonds. A notice was first given on Nov.

8 by the committee, and the sec-ond call brings attention to the fact that default has occurred in the payment of the semi-annual interest on these bonds, which was due Dec. 1, 1929. the United States and European Total United States government (securities Federal Land Bank bonds 17.57 6 1.500 16Toho El Pw 7s '55. 99 99 22 Thn 6 '32 96. 96 17Tokio 5s '61 894 89 4 Tokio Elec 6s 88 874 4 Tolima 7s 47 75 73 countries.

Stromberg-Carlson head offices and factories are located at 99 96. 894 88 73 98 New Jersey Zinc 6.945.625 Patino Mines Enterprises 61 .037 Total bills and securities. Due from foreign banks Uncollected items Bank premises All other resources 4riicawa P. 7s 45 98 98. W.

Roy McCanne. president of l.oni., 1 IT fcine- Rls'37. .102 i 102 102 8" 6.535 1.189 1 fnterelbe 6s 53... 82 82 lOUriiruay 6s 60 87 864 87 U. S.

Smelting-. Mining 3.840,779 Refining 3,516,208 Total resources LIABILITIES. 2,642,052 8 Vienna 6s 52 '84 834 834 Warsaw 7s R8 77 77 77 the company, stated that "Business continues good. This is being our best telephone year, and our best radio year also. Our radio volume has increased about 50 per cent year by year and 1929 will show an increase over 1928.

November ship S66.749.114 f42.423.373 14 Westphalia 6s 53. 80 80 80 Note Where figures published are be- 1 WuerttembiT 7s 56. 90 90 90 fore certain charges Federal Reserve notes in actual circulation Deposits: Member bank-Reserve 179.202 Government 437 Foreign bank 638 Other deposits 1.769 they have been so included here. DOMESTIC BONDS. WE ARE PLEASED TO ANNOUNCE THAT MR.

WILLIAM M. McKELVY MR. GRANT McKINNEY MR. JAS. D.

O'BRIEN HAVE BECOME ASSOCIATED WITH THIS FIRM GAMMACK CO. NEW YORK STOCK EXCHANGE PITTSBURGH STOCK EXCHANGE 393 UNION TRUST BUILDING PITTSBURGH TELEPHONE GRANT 7620 Includes Mond Nickel in 1929 only. Deficit. 2 Adams Ern 4s 48. 86 84 84 Total deposits Deferred availability items.

ments and December shipments to date have continued at the same rate as October, the best month we ever had." 4 Alb Per 6s 48 91 86 91 44 Ally Corp 5s 44 .101 100 loo 66,239 15.646 Am Air Ch 7 41.103 103 103 Capital paid in Surplus All other liabilities 4.430 5 Am Chain 6s 33 96 96 96 16 Am I 5s 49.105 104 105 4 Am Tntl Rs 49.. 954 95. 954 3 Am Gs 6V, 43. 79 78 HARBORD URGES LAW TO LEGALIZE MERGER Radio President Urges Legislation, Supporting Colleagues. It is expected that the contract will result in an appreciable increase in the volume of business for commercial credit companies.

18 Am Susr Rf 5 47.103 102 102 7Am do 5 43.107 106 1064 Total liabilities $474,767 Ratio of total, reserves to deposit and Federal Reserve note liabilities combined 68.0 percent, compared with 66.7 per cent last week. ULEN CO. AWARDED CANAL CONSTRUCTION By Th United Press. NEW YORK Cities Service to-aonstruction of 90 miles of main line water improvement canal, involving an expenditure of $6,000,000 has been awarded to Ulen and construction engineers, it was announced here today. It was let by the Maverick County Water Im-nrovement district of Maverick 2 Am clt 5 46.104 103 103 73 Am 4 39.143 136 141 4 A (T 4 33.

98 98 98 1 Am Tynfndry 6 40.1O5 105 105 6 Am Wtr Wk 6 75.105 194 105 5 Am Wtr Wk 5 34.100 100 100 NEWSPRINT OUTPUT DOWN IN NOVEMBER 2 Am Writ Pan 6 47. 71 71 71 10 Arm Co Del 5 43 844 84 844 26 Armr Co 4 39 90 90 90 OHIO OIL COMPANY MAY INCREASE STOCK CLEVELAND Ohio Oil Co. has called a special stockholders' meet a A.n nil 35 102 102 102 8 rr 4 48.130 129 129 MODERN in every way From the date ot opening oi the Arrott Building, its management has never ceased to. apply a substantial percentage oi the income to keep it among the first of Pittsburgh's modern office buddings. The Arrott Building 7AT4SF, fn 4 95...

93 93 93 1 cv 4 05-55 88 88 88 1 Atl Cst Lin 4 52. 94 94 94 tl A. nn 1st 4 48 62 62 63 it' Bv The United Press. 'WASHINGTON Legislation to legalize merger of radio and cable companies was recommended to the Senate Interstate Commerce Committee today by Gen. J.

A. Harbord, president of the Radio Corp. of America. Harbord is the third official of the Radio Corp. to appear before the committee this week in favor of unification of communications facilities.

Owen D. Young, chairman of the board, and David Sarnoff, vice 13 Atl 1 cl 5 59. 73 73 73 WASHINGTON Production of newsprint in the United States and Canada in November was 365,775 tons compared to 373,928 tons in October. United States output was 113,729 tons against 112,009 in October and Canadian output was tons in November against 251,914 in October. 4 1st ft 48.

.104 103 104 on x- rf 5 A 95.103 102 102 14 4 48 92 914 914 10 BiOPLEtWV 4 41 86 85 86 county. Texas PITTSBURGH STEEL MILLS AT 65-70 P. C. Pittsburgh steel mills are maintaining operations at between 65 and 70 per cent. Finishing mills show little change from a week ago.

Sheet output holds at 50 to 55 per cent although tin plate is higher at near 75 per cent. strin mills are slightly lower at ing for Dec. 30 to vote on an increase in capital stock by an issue of new 6 per cent preferred and exchange of the new stock for that of Illinois Pipe Line Co. Stockholders will on creation of 600,000 shares of 6 per cent cumulative preferred stock $100 par which will be offered to Illinois Pipe Line on the basis of three shares of new stock for each share R.4,li.Hin cv f.36 76 75 75 2 Bell Tl ref 6s 48B 1044 104 104 1 do 6s '60 ...105 105 105 91 nth stl 8s A '48 105 104i lOo SOUTHAMPTON, N. Y.

NEW YORK 1 do ref 5i '42. .101 101 101 3Bst Me RR 5s'67 98 974 97 Fourth Ave. Wood St. Coffee Market. 2 BstNY Air 4s'55 80 79 79 13 Brdwyft7ta 5s'43.

45 42 45 RblvnErii 5s'49 104 104 104 its i of Illinois Pipe. president, preceded him. The Radio Corp, has a tentative contract to sell its radio communications apparatus to the International Telephone and Telegraph which controls cable and telegraph facilities, he said. 2 Bush Ter 5s 97 87 97 80 to 40 per cent and pipe mills at 98 SO to 55 per cent. 93 94 34 CalPpt deb 5s'38 08 98 IdCanXalRv 4 54 94 93 7 do 4 '68 94 93 5Can Nrthrn 7s '40 111 111 Big Order for Pump Co.

111 By The, United Press. NEW YORK Coffee futures opened higher. March, 7.35, up May," 7.37, up July, 7.37, up September, 7.25, up October, 7.32, up .02. Santos futures closed while Rios were 1,000 reis lower. Rio 7s on spot, 994 to 10; Santos 4s, 14 to 15.

18 Can Nat 5 100 100 100 DIVIDENDS 1 I IX i i fci 0 National Transit Pump Machinery Co. has received an order from Texas Corp. for 18 hot oil pumps. This together with other orders will keep the shops working full-time this winter. 1 Pee.

21 1 Dfc. 31 4iimtnum Goods 30c Cirars fesviilr 15 Dec. 2 Dec. do no. j.

Diamond Kat'l 14 1... Exchange Nat'l 2 Gen. Fireproon.cr 50c. do pfd SI .75. Hanover Fire Ins 40c Dee.

Dec. Merger Rejected. NEW YORK Merger of the Continental Bank Trust Co. and the London Metals. LONDON Following are the closing prices on the London Metal Exchange today.

Copper Spot. 69E, up 3s 9d; futures, 67 17s 6d; up 8s 9d; sales, spot, 100 tons; futures 400 tons; electric, spot, 82E 10s, up 10s: futures 83 10s, off 10s. Tin Spot, 185 15s. up 6 10s; futures 188 15s, 7s 6d; straits, 189, up 6 10s. Sales, spot, 10 tons; future 990 tons.

Dec. 23 Dec. 16 14 Can Pac Perpet 4s 85 84 85 6 do 5s '44 102 101 101 34CentGa Ry 6sC 59 100 90 09 1 dolst con 6s '45 101 101 101 1 Ct New Eng 4s 61. 85 85 85 3Ct RR of NJ 108 108 4 Certain-teed 5s 48 64 64 64 10 Chesa Corp 5s 47. 99 99 00 1 Ch gen 4s92.10( lOO 100 4 do 4s A 93...

75 75 75 4 gen 4 58. 92 91 01 5 Chi ni 5s 61 75 75 75 15 Chi (it West 4s 69. 65 64 64 92 CMSPAP 5s 2000. 73 73 73 15Chi i 7s 30. .101 101 101 207 do 4.B 49 10O 100 100 5 do 3s 87 77 77 77 5 Chi Rwvs 5 27...

76 76 76 ef 4s 52. 93 i 93 03 64 do ref 4s 34 95 95 05 2 Chi ref 5s 60.. 98 97 08 26 Chi Un Sta is 44.. 103 103 103 4 do 6s 63 104 104 104 13 Chile Cop 5s 47 ct. 05 05 05 4CCCA-StL 6s 41 104 104 104 1 CCC St 4Hs31E 06 06 06 Pec.

Jan. Fidelity Trust Co. into a $140,000,000 Metal Market. NEW YORK Tin firm. December 40.15-41.10; January 40.40 bid; February 40.60-41.35; March 41.25.

In the outside market copper for the domestic trade is 18, for export 1830. Lead 6.25. Zinc 6.10-6.15. Dec. 23 Peoples rD inni Riter Dental 60c 30c 0 Feb.

Wm Penn Trust 2. Dec. Parke Daria 35 Jn-Increase. Bayuk Cirars -o-Hanover Fire owe. Telautograph 20c st organization, has been called off, it was announced here today after officials had disagreed on matters of policy.

Ice ru1 Citj Feb. Peoplee a Christmas. Packer Hides. Dec. Dec 80 21 21 20 HHniLiL, WunncBninr IFubiew 231 UNION TRUST BUILDING, PITTSBURGH ATlantle 5025 Stocks and Bonds Bought and Sold on Commitaion.

Securities Carried on Conservative Margins MEMBERS New York Stock Exchange. Pittsburgh Stock Exchange New York Curb Exchange, Associate CHICAGO Spready native steers 89 08 73 09 86 62 17 14 do gen 4s 91 89 10 Col 1c Sou 4s 35 08 83 Colon Oil 6 38... 77 1 Colum G-E 5f-2Apr 09 14ComlInvTr 540 87 2C RAL 62 35 Cnntacr Cr 5 43 76 to 18, heavy native steers 16, WANTED Diamond Nat 4 Wm Penn Trust 6. Dec- Exchange Natl 2 Jxf Dec- Hanoerr Fir. In.

'20c Telautotraph 5s Biter Dental 62 'f Honduras Mininr Dec. 08 73 09 86 62 76 101 72 103 ,6 1 Jan. 15 1 Jan. 15 28 Dec. 18 heavy native cows 14, heavy Texas steers 14H, light native cows 13H to 14.

Colorado steers 14, light Texas steers 13'2, branded cows 13, native 3 CYwn-w t'a nsai.lt!1 ItH 5 Cuba Nor 5 4 42 72 72 7Cnyam.l Kr 6s 103 bulls 10 to 104, branded bulls 94 1 to 10. Market unchanged. Liverpool Wheat Firmer. High class security salesman to call on Pittsburgh investors. Prefer one with clientele.

Drawing account will be paid to the right man. Write 26-84, Press office. LIVERPOOL Wheat was due 5 Del Hud 5'-U 103'i NWi 2 IHivr a 551u. loi HM1S loni 4 rwMiAR-oirtv 5s 55 91', 92 '3 4 Del Kdnnm 5 40.1 2 do 6s 49 101H 101H 101H 7 cv 6 4 1 2 Dold 6 42 7014 70 "70 4 Puke Prie Pr rt'-' 1" 1" -i I 14Pul I.isht 44s 67 99 99 90 1 Dul Miss "or Sk.lUlH lUiH luiH 1 to in Denny higher; opened was in m. up, and at 1:20 p.

Motocycle Stock Iricrease. NEW YORK Indian Motorcycle Co. proposed an Increase in authorized common stock to 200,000. shares from 100,000. pence up.

Pr Oin. 131 Jk 137. 8J 122 H2k 1301 96 ref 6s 67. Close. 131 139 141 140 Low.

13o 13, 140 139 Hih. 131 139 141 140 66 Erie If 96 80 96 85 80 do 1st con 4s 96 85 rid 81 24 -do sen 4s 98 130 -July..