The Boston Globe from Boston, Massachusetts • 33

I i THE BOSTON GLOBE THURSDAY, DECEMBER 33 DOLLAR QUIET IN EXCHANGE 4 Closed at 5.06 Jg to Pound in London LOUGHRAN OK FORCARNERA Giant Italian Willing to Defend Title Feb 22 bitter fight over MILK DIFFERENTIAL Frederic S. Snyder Leads Group in Favor of 12-Cent Price at the Home MADE PROFIT BY BUYING N. E. POWER STOCK Edison Company Sold It vBack After a Year at Advance of $300,000, Pres Baylies Says FREDERICK H. PRINCE ACTIVE IN ARMOUR CO Returning From Europe, He Will Go to Chicago to Guard His Large Interests in Company LONDON.

Dec 14 (A. The United States dollar exchange rate, in a quiet days trade, fluctuated within a range of 3l4 cents to the pound on the foreign exchange market today and closed at 5.06Vs to the pound, 2 cents lower than yesterday. Opening at 5.04 V. it gradually receded to 5.07 V4. Continent 1 1 interests who yesterday bought dollars and sold francs today reversed their program and made moderate offerings cf dollars.

The news that the American gold price again was unchanged brought a slight recovery to the close. The French francs early weakening was obviated by continental buying and the franc closed at 83.59 to the pound, after reaching 83.96. if 12 cents. He asserted that this agreement was defeated by a small group of distributors and that there had followed damaging competition in the field by distributors who sought new customers by offering to sell for 11 cents, when the customers were buying milk from another dealer at 12 cents. Other speakers said that Snyder exaggerated the true picture, that conditions were by no means chaotic, arid that most of the dealers were asking a 12-cent price and allowing an 11 -cent price only to customers to whom they had always allowed discounts.

Willman said that the present agreement was heaven compared to previous conditions, and urged that it be given a fair tried for at least three months before -hanging it NEW YORK, Dec 14 (A. Upon his arrival today for a brief visit, necessitated by his pending bankruptcy proceedings, Primo Camera promptly declared a willingness to defend the world heavyweight ooxing title against Tommy Loughran, Philadelphia contender, in Miami, Fla, next Feb 22. Camera and his American man ager, Bill Duffy, were slated to con fer with Madison Square Garden officials later in the day. The giant It lian said he had no olher fistic engagements in Europe and would return to the United States icr any suitable -match. Camera, traveling alone on the Conte di Savoia, will sail fer Italy tomorrow, night on the 'ame liner in order to be home for Chiistmas.

He went- to Bankruptcy Court for a hearing this morning the proceedings begun last Summer, foilowng his victory over Jack Sharkey for the world title. The Italian made no money from that fight and declared himself otherwise broke. NEW YORK, Dec 14 (A. Frederick H. Prince, Boston financier, who has become one of the largest stockholders in Armour Sc Co, of said today he would leave within a day or two for Chicago to confer with the Armour interests.

He returned from Europe last night. His Armour holdings, he said, include both common and preferred shares. He declined to comment on rumored plans for readjustment of the Armour capital structure, but admitted that in view of his substantial interest he would probably be invited to participate in any conferences called for this purpose. Mr Prince said he was optimistic on the business outlook. We are on the up-grade and confidence is returning, he declared.

Mr Prince has for ipany years been interested in Chicago meat packing. He was president of the Union Stock Yards Railway Company, an important belt line, for some time. Vf -i" Frederic S. Snyder, director of the Boston mil marketing agreement, argued before the code's arbitration board headed by Judge Benjamin F. Cleaves of Portland.

Me, today in behalf of an amendment to the agreement providing for a one-ccnt differential between over-the-counter cash sales of milk and home-delivered milk. Under the provisions of the amendment supported by Director Snyder, but bitterly opposed by a large number of home distributors of milk in the Greater Boston area, family milk ill be sold at 11 cents a quart over the counter and delivered to the tome for 12 cents a quart. Under the present price schedule cf the marketing agreement, there is a exible price an 11-ccnt minimum ar.d 12-eent maximum which does r.ot distinguish between store milk ar.d home-delivered milk. The director of the milk code said that Clyde King. Federal dairy expert cf the Agricultural Administration act.

had told him that audited statistics regarding distribution costs of cta.n stores and wagon delivery in possession of the Government would support a one-cent differential. At the resumption before the Public Utilities Commission today of the hearing on the rates of the Edison Electric Illuminating Company of Boston, Walter C. Baylies, president of the company, testified tnat in a $1,000,000 stock transaction with the New England Power Association 1926 and 1927 the Edison Company made a profit of $300,000. Pres Baylies was called as a witness by Frank H. Sullivan, counsel for a group of petitioners.

After Mr Baylies had testified the petitioners rested their case. The companys case will begin Thursday morning Jan 18 at 10:30. Describing the stock transactions, Pres Baylies said that in January of 1926 the Edison Company purchased 20,000 shares of New England Power Association $50 common stock. The following year the president said the Edison Company sold the stock back to the New England Power Association for $1,300,000. The Edisons profit on the transaction, Pres Baylies said, was $300,000.

At the start of his testimony Pres Baylies said he never stated that the rate case would not amount to anything, that he would never be called as a witness; that everything had been fixed and that the commission had been taken care of. My only statement concerning this rate bearing was, that as it was progressing officials of the company were compelled to take a great deal of time from their normal duties," Pres Baylies declared. Pres Baylies also said he had no knowledge of a representative of a supply corporation approaching Mr Sullivan, requesting that he sit down and talk over the rate proceedings with representatives of the Edison Company, FREDERICK H. PRINCE to Sullivans query whether the witness believed the Edison to be a profit making company. When Sullivan pressed the witness for a definite answer, Pres Baylies said make the answer yes.

The 20-year contract by which the Edison Company purchases 150,000,000 kilowatt hours annually from the New England Power system, which was criticized by Mr Sullivan at several previous hearings, was defended by Pres Baylies. Pres Baylies said he considered the 20-year agreement an advantage to the Edison Company. He said he also considered the 20-year contract of equal value to the New England Power system, declaring it permitted the free interchange of current. At the time the 20-year contract was entered into, Mr Baylies was vice president of the Edison and a director of the New England Power Association. I did not sign the contract in either capacity, nor did Mr Edgar, who was then president of the Edison as well as a director of the New England Power Association, Pres Baylies testified.

Nothing to Do With N. E. P. Finances The Boston Edison Company, Pres Baylies said, has had nothing to do with the financies of the New System. In the Fall of 1932, Pres Baylies continued.

A plan was submitted whereby the Edison and other companies would take part in refunding New Eng-land Power notes. Nothing was donet however, for the New England Power found means to renew the notes. Pres Baylies described the companys merchandising department as' a valuable adjunct to the requirements of all of our customers." Even if the merchandising department lost money Pres Baylies said he would still consider it valuable. It would still be an accommodation to the thousands of customers. Defense of the companys promo- tion department was also voiced by Pres Baylies, who characterized it as a good adjunct to the organization of the company or we wouldn't have it." CULLER SLAMS CULBERTSON Declares Bridge Play in TJ.

S. Worst in World LOSS $125,000 GY LEWISTON FIRE Four Large Burned in Zero Weather LIQUOR OPENS DOOR TO GRAFF Rep. OConnor Asks Tax of $1.50 a Gallon Milk Exploitation Attorney Barstow emphasized the standard argument used by the milk dealers against chain store methods in th emilk market He said that he strongly opposed the exploitation of milk by chain stores as a commodity to lead customers into the store. C. F.

Adams has always maintained that he could undersell the home delivery people by at least three cents by lower chain store costs, and tnet he did not use milk as a loss-leader in his stores. Roy D. Hunter, a producer, of Claremont, urged the arbitration board not to look upon the problem before them as one which was of interest only to the distributors and dealers. It is also a problem for the consumers and the he said. In fact, in some ways, their interests are of paramount importance.

He attaacked the surplus milk conditions and declared that the New England table cream market should go to New England farmer He said the Western farmers would be satisfied if they could have all the icecream market. Snyder also said, during the course of the hearing, that he believes elimination of competition, even over the 11-12 cent range, would result in a greater gain to the producer without raising the price to the consumer. Stabilization of the retail price would help everyone, he maintained. He said that he had no intention of withdrawing his proposed amendment, as he had been asked to do in a petition submitted by Willman and said to be signed by 40 milk dealers. DOLLAR FLUCTUATED SLIGHTLY IN PARIS PARIS, Dec 14 (A, The United States dollar dropped 11 centimes on the foreign exchange market today, closing at 16.47 francs (6.07 cents to the franc).

The dollar opened at 16.60 francs (6.024 cents to the franc), dropping later to 16.55 francs (6.042 cents) as commercial buying dwindled in the preholiday lull. The dollar closed yesterday at 16.58 francs (6.03 cents to the franc). PRICE FOR NPW GOLD OUNCE UNCHANGED, $34.01 WASHINGTON, Dec 14 (A. The R. F.

C. price for newly-mined domestic gold was unchanged today at $34.01 an ounce. This quotation was the same fixed Dec 1 and repeated for 12 business days, during which time the dollar has been slightly more than five to the pound. Londons bar gold price was $31.79 today on the basis ot sterling opening at $5.044. DOLLAR DECLINED IN NEW YORK EXCHANGE MARKET NEW YORK, Dec 14 The dollar was a loser in foreign exchange markets today.

Sterling showed a gain of six cents at $5.10, the local market, and the franc rose .10 V4 cent to 6.114 cents. At this rate the dollar was valued at approximately 64.13 percent of parity. The decline of the dollar, after recent firmness, was attributed by some exchange dealers to reports that the R. F. C.

would soon resume the raising of the gold price. Only Slight Change at Berlin BERLIN, Dec 14 (A. The United States dollar was quoted at 2.72 marks (36.72 cents to the mark) on the foreign exchange market today, only slightly changed from yesterdays quotation of 2.725 marks (36.69 cents). Many Speakers Opposed The proposal sponsored by Snyder was opposed by a series of speakers, particularly attorney F. V.

Barstow and Director Joseph Willman, both of the Whiting Milk Company, Allen R. White of White Brothers and Joseph L. Griffin, a Greater Boston distributor. Willmann. one of the few persons willing to give his almost unqualified approval to the present market ir.g agreement, admitted that earlier in the year, during the course of a hearing Washington, he had been willing to support a one-cent differential as proposed now by Snyder, but that when C.

F. Adams, president of the First National Stores, held out for a two-cent differential, he, Will-mann. withdrew his compromise offer and demanded a complete investigation of costs. Snyder, in supporting his proposal, said that the present flexible milk price had resulted in chaotic conditions, not so bad as before the agreement, perhaps, but by no means as satisfactory as the code had sought. He said that at the time the agreement was to be put into eftect, a majority of the dealers were in favor of a gentlemens agreement to keep the retail delivery price of milk at Company Makes a Profit The Edison Electric Illuminating Company was described by res Bay-lies as a profit-making utility.

The fact that the company has paid dividends to its stockholders and that it earned them indicates that the company made a profit for the stockholders, Pres Baylies said in reply LONDON, Dec 14 (A. Lieut Col Walter Buller, bridge critic, made a vigorous Attack today upon the quality of the game in the United States and upon Ely Culbertson. The standard of play in America," he told, the Aldwych is appallingly low and easily the worst in the world. Culbertson is hot air. Many professionals in America are monsters who are continually thrusting parasites upon us.

You should no longer be misled by them but transfer your allegiance to those of us who appeal to your common sense, Everything that Culbertson has suggested is not invthe direction of improving the game, but ruining it. He is out to wreck the Portland club, and if we give him enough rope he will wreck the game. A question submitted by Buller to the Portland club iast Fall caused that London organization to outlaw the Culbertson four and five no-trump conventions and other ace-sHowing bids. The ruling was made after a team captained by Culbertson had defeated two British teams. The Whist Club of New York has ruled in favor of such convention.

The commission Francaise du Bridge favors the attitude of the Portland club. These three organizations cooperated in promulgating the present international code. NEW YORK CURB MARKET WASHINGTON, Dec 14 (A. opinion that strict Federal and regulation of the liquor traffic repeal had opened the door to opportunities for enforcement and political influence than existed under prohibition, was today 'by- Representative Dem, of New York, at a Congressional hearing on liquor said there was a scandalous situation in the liquor industry supported a charge earlier H. Smith, representing independent Kentucky distillers, that a trust was in existence.

New Yorker recommended a tax on liquor, the highest witness had proposed. told the legislators tax of gallon would be a poor way revenue. make the tax too nigh, you the bootleggers and racketeers who are now in charge of the he testified. whisky business, with the exception of one or tWo New York houses, is now owned by foreigners. testified whisky- could be for 11 to 15 cents a and aged within a year.

recommended a 'maximum tax a gallon, asserting that would it to be sold for $1 a quart. said he had been active for years, but added: situation that exists today we must have as a consequence of repeal, as for me, give me 200 ttGInbe TTnderwr. 7 too tGold Seal Elec. looGorb Mfg- tc 18-(? 20 Gt AAP let r. .120 1 on Grevhound new 7 4nn TGroc sir vtc.

4 1200 Gull Oil 68 7 iS 87 12" LEWISTON, Me, Dec 14 Fire which started at 5:50 this morning in the fur store of Lewis Silverman at 96 Lisbon st, swept eastward along the street and through three more stores before it could be stopped. It was still burning, though under control, at 10:30 a having caused a loss estimated at $125,000. Luckily there was no wind or there would have been a serious conflagration. It was a difficult fire to fight, and called for all the strength of both the Lewiston and Auburn departments, The temperature was well below zero, which added to the difficulty. Ice formed rapidly everywhere.

Two structures were hopelessly aflame when the firemen arrived. The. buildings along Lisbon st, though some of them have brick fronts, are of wood. They are not in one continuous block but stand separate, though vjery close together. At the rear an alley divides the Lisbon-st stores from those the next parallel street, which are also of wood, and include the Odd Fellows Temple.

The firemen managed to keep the flames 'from- crossing over. An explosion in one store flung five fire fighters the width of the street. Fire Lieut Rodolphe Doucette receiving a cut near the right eye which required four stitches to close. He was also severely cut on his hands. He refused to go to a hospital, and after treatment on the spot by.

Dr Joseph Scannell, the department T1 surgeon, returned to work. The State since more graft ever voiced OConnor, joint taxation. OConnor and by Harvey whisky The $5 a gallon levy any Smith $2.50 a to raise If you will keep industry, The banking Smith manufactured gallon He of $1.50 permit OConnor for repeal If the is what Little to dislodge PRICES OF MOST LEADERS IMPROVE Gains Prominent in Industrial Issues NEW YORK BOND MARKET (Helena Rubin isnn tliir Walker HnotHir Walker looHnJlintr Gold 50 Horn A Haid 700 tHudson Bav MAS 6nn Humble Oil 400 Humble Oil loo tH.vgrade Fd 15s ft 81 102 IT 0 84 10" 1 3 84 102 8 13 8 4 20 11 20 3 20 8-32 PRICES WITHIN NARROW RANGE U. S. Government Issues Slightly Irregular 500 Imp Oil ran 225 Inti HvdEl pr 30 Int Minins war 400 Internal Pet 200 inter till oo inter til war, SOOItal Super deb rt.

13 2" 3 3-P 40 LOSERS SQUEAL SAYS CULBERTSON OF ATTACK NEW YORK, Dec 14 (A. Ely Culbertson said today that Lieut-Col Walter Buller, his British critic, was not representative of British bridge players. Most British players, he said, are wonderful sportsmen. Buller does not represent their opinion. He has made a profession of getting free publicity by abusing me and other Americans.

He has been badly beaten by me and his losers squeal is music to my ears. Bar Gold Unchanged in London LONDON, Dec 14 (A. Bar gold unchanged at 126s Id (United States equivalent $31.79 on basis of sterling opening at $5.044.) RflILROADSFEEL MUGUNXIETY May Ask Government Aid to Redeem Bonds I 12 89 I 12 42 13. as4 31 1035. 105 61 6 Vs 86 b3 41 46 49 V8 5 64.

91 52 5 122 94 43 bO 96 67 24 113 24 79 90 42 18 64 71V 59 48 110 106 76 6H 8 103 44 98 69 140Jonea tail 40 j. KlnsrburT 7 llonKirhv 1rt 400 1 Krueger Brew 12 I. 2100 I.ake Shore Un Bak 800 Lehigh 100 tEennnrd Oil foo S'ar Gas. loo Eons: Is Lt loo Eonir Is pr uoo tEouis a 32 3 ss 4 3(1 did we think that our efforts the Federal Government from the invasion of State rights would be rewarded by a vicious interference under the N. R.

A. We even thought repeal would end the scandals of the liquor traffic, only to find today the attempted Federal regulation plus the -multitudinous regulations of the States have opened the door to more opportunities for enforcement of graft and political influence than ever existed under WILL NOT RULE ON DIVORCE ANGLE Stores Which Were Damaged The fire first spread from the Silverman store, with its stock of valuable furs, to the Burton shoe store, and thence to the Ehrerifried-Evans Company store, which deals in dry goods and dresses. This store was recently rebuilt at a cost between $50,000 and $60,000. It got into the Laney-Wellehan shoe store next to this one, and there it was stopped. The four stores, however, were practically destroyed.

The next Max Subovits, the tailor; the candy store of Alton S. Grant and the dry goods store of the J. C. Penney Company were damaged by water and smoke. 2 1 i 84 4 4 8.1 4 i 33 4 2 i 84 4 88 4 Barnstable Judges Gave Gilbert Annulment NEW York, Dec 14 (A.

Quiet firmness prevailed on the Curb Market today. Offerings dried up and prices of most leaders improved, in some cases to the extent of a couple of points. Trading, however, was dull. Gains were most prominent in industrials, especially metal issues. Aluminum of America advanced nearly two points on its initial transaction, while Lake Shore New Jersey Zinc and Newmont added about a point each.

Bunker Hill and Sullivan was an exception, declining moderately. Utilities generally made progress. Cleveland Electric Illuminating rallied on the higher dividend, 50 cents a share compared with 40 cents 'in the two previous quarters. American Gas and Electric was fairly well supported. Miscellaneous industrials to make progress included United Shoe Machinery, which recently voted a special dividend of Sherwin Williams, Parker Rust Proof.

A. O. Smith, Distillers-Seagrams and American Cyanamid B. Swift it Co was barely steady. Oils showed little change.

Sal. Hirh Vo vr 2 tm 20 Aero sup Mfe 2 2 2 lUOAtr Invest -wap aXo pr 2 40U Allied Mill- 8 8 400 Alum Co Am 81 80 81 50 Alum Co Am pr 69. 69 3 Alum I.td war .7 7 1 0O A Corp A 12700 Xni Cyan 144 1J 14 lOfltAm Y)ept St Pow war 4 44 finOAm Founder II if 9900 Am GasA-KI 524 1 400 Am 704 voti 400 Am I.un Meii 700 Am T.urhtATrac 25 Am Meter 1200 Am Maracaibo 6900 Am Sun Power JOOAm Sun pr. lOOAuch Post F. 100 Armstrong- Ck 100 tArt Met Wk 200 A tc 1200 A A.

20 As A 1100 As GAR wso. lOOAs Tel Ltd ROOAe Tel Ft too Atl Cat Fish 1800 Atlas Corp lOOAtlsa Corp war 100 Atlas Fly 'I 1000 Mantrel Sirs 200 Mhh. Clil Asso. 4.100 tM avia Bolt 400 Gai! Mexuo-Ohu, oil. 100 Mot St Ppt A vtc.

1200 Mid West IHil. too Midland Stl 200 Mining Co 20 Minn Honey 400 tMolybcnum ISOMontr A 200 Mount Prod. 1200 Nat Bellas 600 Nat Fuel 300 N'at Inventors. 200 at Invea war. b'ew Bradlord 400 Zinc JOOtNewmnnt Min New Orleana PS pr 22oo Niaar Hud Pow 0ONIg Hud A war.

25 Nor Am EAP pr. SOOt Nor Enron 100 Nor St A 2 13 80 4 if 834 48 8 4 194 NEW YORK. Dec 14 (A. Bond prices held within a narrow range today to the accompaniment of rather light trading. United States Government issues xere slightly irregular.

Some of the L.bertys had small gains, and most cf the Treasury issues were unchanged to 5-32s of a point lower. The corporate division was again enlivened by active bidding for loans cf the communication companies. International Telephone debentures and convertibles rose I1- and 3 points respectively; Postal Telegraph 5s were x.p 3. and Western Union 5s gained a point. The buying movement in this group started yesterday following Washington reports of an official survey looking toward a unification of telegraph and telephone services under Federal supervision.

Bonds of the American Telephone Co did not move with the other communication issues, ruling slightly lower in most cases. Firm spots in the rail and industrial groups resulted from moderate cams such issues as Milwaukee 5s. Boston it Maine-5s, Erie 5s, Missouri Pacific 5s. Southern Pacific 4is. United Drug 5s, Standard Oil of New York 4-s.

Youngstown Sheet it Tube 5s. Gulf States Steel 5s and Dodge Bros. 6s. The foreign department also had an uneven trend. French and German Government issues had a firmer tone tnan yesterday, with the former up a po.nt or so.

Australia 5s and Brazil yielded a point each. I'MTtr. STATES GOVERNMENT BONDS Dollar and Thirty-Second in S10OQ) High Vow 1:30 LIBERTY S4 3s too 4 100.5 tl.it',, 1.J-47 101.0 101.4 101.4 t4'h -33-31 101.H0 101.17 101.110 TREASURY 1.1 485 7 8ji NEW YORK, Dec 14 (A. The railroad industry was forced to take some high jumps to meet 1933 bond maturities, and it is now trying to get its second wind while surveying its financing requirements for the coming year. According to estimates prepared by Moodys, the steam carriers are faced with contracts to redeem a total of $217,247,000 in bonds next year.

Of this aggregate approximately represents maturing equipment trusts and the remainder bonds of various classes. For 1933 the Class 1 railroads had to meet, in one way or another, maturities amounting to something more than $295,000,000, which included about $107,500,000 of equipment trusts. In an ordinary year the carriers could be expected to finance themselves for these or even larger amounts, without particular difficulty. This year, however, the roads found themselves up against a combination of barriers which forced a resort to expedients that would oe foreign to established financial policies in good times. 32 13 54 105 61 67 86 b.7 424 50 98 6.7 92 524 5 122 82 94 435s 60 99 58 9 21 12 2.7 80 90 43 19 6.7 54 715 60 49 110 106 77 68 8V 103 44 99 60 66 84 83 29 102 104 2H 29 82 96 57 7.7 6H 39 82- 91 nr- 78 14 54 i7; 94 88 88 104 65 54 54 83 5a 5.7 10.7 10.7 100 37 60 97 V4 62 24 101 87 99 102 67 66 60 2.74 2.7 64 904 41 7254 37 9H 6ft i 98 3 61 49 50 54 49 8.7 8054 90 100 95 5s 94 5s 36 49 554 150 21 no 112 54 CONFERENCE ON MUNICIPAL CREDIT Mayor Curley Member of Committee 88 63 Dec 14 A.

Judge Collen C. Campbell of the Barnstable Probate Court today returned to the local court an order dismissing a petition of attorney Morgan P. Gilbert asking the court to make additional findings of fact in connection with a petition by Gilbert for annulment of his marriage to Mrs Lois E. Gilbert. The court said that he would not rule on the legality of a divorce granted the present Mrs Gilbert in Maine from Arthur H.

Bartlett of this city, and since he had passed his decision on a question of public policy he declined to give other rulings iskcd Judge' Campbell granted the annulment in July and the case is being prepared for the Supreme Court. GASOLINE AND BEER TAX RECEIPTS State Totals for November Are Announced 200 Ohio Oil pr inotPac Eaatern 6(81 Pac GAE pr lootPan-Am Airway SOOtPantepec 200 Parke Davla. 80 Parker Rust-Pr. 4700Pennroad loo 18(m Petrol Corp KHl tPhoenix Sec pr. 101 OU tpionecr 700 Pi fury-Bowes 225 Pill PI G1 600 tPotrero 200 Premier Gold 600 Propper McC JOOtPruden Inv, 110 Pux Sd 6 pr.

10 Pur Sd 6 pr. 88 1 19 48 1 1-33 8 12 86 2 8 11 6 1 48 1 25 67 2 47 1-S2 8 11. 3 85 2 1 Vi 6 1 19 48 1 47 1-3J 3 31 2 EUROPEAN GALE T00K28 LIVES Four Vessels Were Sunk in Violent Storm LONDON, Dec 14 (A. A toll of at least 28 lives was taken by the violent gale which has swept European waters for the past two days, a count revealed today. Twelve lost their lives in Finnish waters, nine went down off the Suf-follc coast of England and seven were lost when the lightship Dyck sunk off the coast of Dunkirk, France.

It was feared there would be many addition to the list when the whole tale of the seas fury is told. sinking of a Spanish tanker in the Black Sea has been reported, but there was no estimate of the number of probable victims. Waves washed up four bodies on the Suffolk coast today and enabled Coast Guardsmen who identified them to know the British steamship Culmore of 469 tons had gone down yesterday, apparently with her full crew of nine men. They tried yesterday to reach the vessel before she sank, but when they reached the reported position she had disappeared, and, until today, they did not know even her name. London experienced the coldest morning of the Winter with a temperature of 27 degrees Fahr as an icy northeast gale swept the country and bitter weather continued over most of the Continent.

Five deaths from cold were reported. Southern England was 10 degrees colder than North Scotand. 18 Hud A Man inc3s57 324 3 Hum Oil A og 10 111 Bell Tel 5. III Gen 4 '66 els -SICA CSLANO 5'63A 67 Vi 1 Inlaud St 4Hs 78A 09 rl 5s 90 65 2H lutHvdroEl bs 42 '4 43 loti At 4 Ha 32... 4o 5 84 Inl'i ATdeb 6r 55 7u 2 KCPowALt 4 Ha 61 00V 3 KsHoulh 5a .70....

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00.24 04.29 00.0 09. 00. 09 24 04.20 00.16 no 10 9.1 2 08 20 04.30 CORPORATION BONDS 1 2o 1 44 44 100 Reller-Foet lOORevbarn Retnold 700 Rich Oil pr. woo Roosevelt 200 Poaaia Inti 200 Rvan Con 80 Kyersun A Son 8 ROO tst Rnth Gold 2700 So Reris Pap K0IO Salt fr (on 400 Salt Cr Prod 400 Schulte Eat 2(01 Seaboard Pti! 2300 Segal Lock 100 Seiherltnr Rub 100 Selby Shoe loot Selected Indus ROjSei lnd(a etf)x BO the! lud pr pr 400 tShattuek Penn loo tshenandoah 1 00 tShenandnah pr 675 Sherwin-Wms to Singer Mir 450 tsmilh AO 8oo So Am b(P 4(0 So Ed pr (01 soul hern Coip 600 tSnotbland Kojr. 60 tftlanl Ine pr 72(0 8t Oil lnd loost Pow A pr.

810 tStarrctt 2(01 fS(arrett pr 800 tstetn Cosmetics 20l Siiiinea Huso tootSiin Invest 2(0 vHun lnv pr 200 Bunrajr Oil 800 Swift A Co 2 A I ii 2 17 45 160 31 US 1 I 30 52 91 41 40 loo1 84 77 48 14 171 854 88 88 104 64 5s 54 8356 5.7 105 104 99 37 59 V7 61 24 100 87 09 102. 57 66 69 23 23 64 9ft 41 a 96 69 r9H 73 64 49 50 48 8.7 79 90 1004 95 94 34 49 6 1-70 21 22 111 27 23 102 54 91 10 7 26 30 6ft 71 146 71 176 56 0 49 71 48 68 47 99 84 1.7" 83 53 40 89 79 61 84 41 64 16 86 0ft 62 5.7 54 46 9 54 109U 15354 7ft 63 4.7 314 49 2o 44 2 44 29 itt J1 .15 32 20 I 85 SU ltAIifjhaiy 6a '50 20 1 24 Am A 1'orPSj 2010 37 24 hem 3 4 '49 85 17 Am Metal Sii 0 11 Am Stne.t 5 '47. 10 1 Am Mic Ref 11 Am TAT 5'ia '43. .10 1 Am TAT 5a '65 ..10.1 9 Am Tr Kdr 6a 24 OAm WAE 5s 7'4 14 A-n 4 '39 MS 2ATAF ct 4Jie 48 84 ATA-P 4s 03 6 AC Line Jt 4. '52 924 2 At! Refin 5a '17 .13 4 BAO riz 6s 76 42 BAO lt 5, 40 07 4' BAO evt 4s 57' 13 LAO 4.

'4 7 1 R-M Pa 54B 106 6 Beth rte 542 0 4 5 60 13 fikivn Tran 6a TO no1 2 Flefyi, I 3a '43 106 Bif A 4S '57 .1 Bu-h Hide 5a 40 26 1 an Rr 4s 66.100 'an Ry 4 Ha '68 i' 'an Xor 7a '4 ltan Pa- 4 Ha 71 'an Pac 4 erp 60 2'en 111 A 5a '51 46 4 en Pa- 5 '60 64 9'en Pan let 4 '49 75 4 ertain-teed 5Hi '48 62 44 1 torn 5 47. 12 A a rn 4H S2 00 WASHINGTON, Dec 14 (A. A committee of Mayors, representing the National Organization of Municipal Executives, today prepared a program for restoration of municipal credit-for presentation to Acting Secretary Morgenthau. The committee included Mayors James M. Curley of Boston, Daniel W.

Hoan of Milwaukee, T. S. Walms-ley of New Orleans. C. Nelson Sparks of Akron, Angelo J.

Rossi of San Francisco and city manager C. A. Dykstra of Cincinnati. Mayor-elect Fiorella LaGuardia of New York was expected by plane to join the at Morgenthau conference late in the afternoon. Hoan said a specific proposal would be suggested to Morgenthau, but declined to divulge details.

He said banks were refusing to make loans to municipalities and thus were blocking the efforts of municipalities to meet their obligations. PERMISSION FOR BUYERS OF CITY SERVICE STOCK Permission to file such suits, and to bring such actions at law, as are necessary to protect themselves, was granted to the buyers on the instalment plan of City Service stock from the Henry L. Doherty Company of New York, in the Federal District Court, by Judge Hugh D. McLellan. The case, which involves a sum just under $3,000,000, was before the court yesterday and Judge McLellan ave his decision today.

WINTHROP FIRE FORCES FAMILY FROM HOME WINTHROP, Dec 14 Mr and Mrs Samuel Freelman and their three children were forced to flee scantily clad from the Freelman home, 203 Shirley st, about 6:30 this morning when fire, believed to have been caused by an overheated furnace was discovered in the cellar. Mr Freelman was awakened by a suffocating sensation and on investigating found the cellar in flames. He aroused his family and they fled to a neighbors home. Firemen, summoned by an alarm from box 24, worked for an hour to extinguish the blaze. The damage was placed at $530.

17s 1 'H 31 i 15 32 20 1 1 4 81 11 Year Most Difficult of Century It is agreed on all sides that 1933 will probably go down in railroad history as one of the most difficult in this century to date, particularly for the roads which had to provide capital or acceptable substitutes with which to satisfy holders of maturing bonds. Executives of the roads which have to pay off large maturities next year freely admit that they would approach the problems in a more comfortable frame of mind if they could feel assured that the major handicaps of 1933 will have disappeared before their securities become due. A revival in the long dormant investment market would- help, as would a sufficient increase in railroad revenues to restore to rail investments some of their old popu-larity. Under the present uncertain outlook, however, it appears that many of the carriers will again have, to depend on Government aid and the willingness of bondholders to accept part of their due in cash and part in new securities, the formula by which most of the roads were able to get by in 1933. 7776 MOTOR VEHICLES FOR ARMY AND GUARD WASHINGTON, Dec 14 Plans for motorization of the army with the $10,000,000 allotted from public works funds were made public today by the War Department and show that 7776 vehicles will be purchased for the army and the National Guard.

1 ICE DEALERS ASSN TO HOLD DANCE TOMORROW Under the auspices of the Retail Ice Dealers Association, an N. R. A. dance will be held tomorrow evening at the State Ballroom, Massachusetts av. On the committee are Mr H.

Greenberg of Mattapan, L. DeSario of Roxbury. Frank DeSario also of Rox-bury, C. J. McCabe of Dorchester, R.

M. Rose of Roslindale and Jack Sweeney of Belmont. 1000 Baldwin bond rt 9 25 Bell Tel Can ....115 lootRlue nidge 1 3oo (Blue Bid 82 looB-idapt Mach i 400 Br Am Tb 2 TOO Brit Celan 3 loo Brown Form Dint 10 8110 BnfNA'i nr 14 ROO Bunk Hill A 45 4 400Burco war A 100 Burma ltd 8 400 Cab A Wire A 244 Cab A Wir pr. 8 IllVltC A Cn A 1000 Can Ind Ale 15 100 Can Tnd A'" 13 300 Can Marc 24 300 Carlb Svn 3 20 Cen A SW Ut PI 4ort Can St FI aootOntrif PI 4200 Cities Service 00Ct Serv pr 11 "8 300 Claude Neon Ids. 300 Clove El 111 25 600 tCnlon Oil 14 50 Colum GAR (Tfr.

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El PAL, 2d pr 100 Elcr Sh pr. 50 FmerBroSeltsA atP 4ito tRauity corn -no Evans 100 Evan- Wallo pr loo tx-cello A A T. 800 tFairrhild MooFalMaff Brew llontFidelio Brew ion Fi-k Rob mo Fisk Bub pr 1 ton Fla A T. 7 or. Jim) Ford Can too Ford Mot 200 1 Found Foreign lootGarlock rkg Too Gen Fl ltd ret- r.no Gen Th hn cv pr.

175 Gen A Rub 900 Glen Aldrn 50 21 74 ite 354 31 4. 0 8.5 5 4 4 4 84 4 1 81 11 HS 3 9 12 104 aS 8 85. IS 2054 37 04 OH 09 104 1015 103 24 07 0.74 05 02 4 0254 765 07 .76 4 07 16 69 4 no ij 106 .79 411 loo 00 14 71 80 4 49 04 75 81 0.7 41 09 VO 4, Ill's 31 3n '4 14 815 20 5.7 4 VI 4 61 7.7 IV 69' 12 0 3 70 41 05 '4 07 28 36 64 OH 9H4 104H IWS 102 5 24 0654 05 074 025 02 4 76 96 66 07 106 014 60S r.o 106 50 40s 09 out 104 71 50 4 46 75 81 44 4, 09 VIM 10H 34 3 14 314 0 4 20 35 4 01' 64 73 19 69 102 00 3 79 414 05 07 lo Henry F. Long, State Commissioner of Corporations and Taxation, today estimated that the fkxable gasoline consumed in Massachusetts in November last totalled 43,327,794 gallons, which will yield to the Treasury approximately $1,299,834. Commisioner Long also reports that the November use of taxable beverages approximated $38,632.48 as against an October taxable use of $51,367.37, making a total from the beginning of the beverage tax on April 7, 1933, to Nov 30, 1933, of The largest months receipts were in August and totalled $78,901.69 an excise of $1 on each 31 gallons of 3.2 percent Beginning with Dec 1, Commissioner Long indicates that a State tax will be laid on hard liquors at 40 cents a gallon, on wines at 10 cents a gallon and malt beverages at $1 per barrel.

2 REVERE MEN DISCHARGED; HIDDEN ASSEJS CHARGE United States Commissioner Edwin C. Jenny discharged Hyman Corin and Samuel Goldenburg, both of Revere, today, because the Government lacked sufficient evidence on which to prosecute them for alleged concealing of assets from Harold A. Levinthal. trustee in bankruptcy. Corin filed a petition in bankruptcy last April, and was charged with concealing $10,000 worth of raw materials and money.

Goldenburg was charged with aiding him in the alleged coneealmerft. The defendants were discharged at the request of Asst U. S. Atty John W. Schenck.

1 9 'I 'A 1 04 6 IV' 0O 10 1.1 3 14 1025 01 1054 7H So 71 146 173 178 87 Rl 60 7 4 ii 68 58 99 8.7 1.704 83 83 41 89 79 63 R54 4s 84 54 42 54 16 86 54 0O 62 SPANISH TANKER SANK IN VIOLENT BLACK SEA STORM BUCHAREST, Rumania, Dec 14 (A. The Spanish tanker Zarofa sank in a violent Black Sea storm today, 18 miles from Istanbul. Her crew was feared lost. The storm raged across the sea and over the whole of Rumania. The country was blanketed by a heavy snowfall.

Trains were hours behind schedule and traffic in the capital was disorganized. BOSTON PAIR DENY PASSING BOGUS BILL BARRE, Vt, Dec 14 (A. Morris Marcus and Philip Waggenheim, both giving oston addresses, were arraigned before Judge H. W. Scott in Municipal Court today, charged with passing a counterfeit $5 bill in a store here yesterday.

They pleaded not guilty and bail was set at $3000 each pending the arrival of investigators from the Department of Justice in Boston, who. it was expected, i would question the men to determine whether they had any part in the passing of a considerable amount of counterfeit money in Vermont this Fall. 5s 2 2 lo 68 2 ii 3 ei 50 51 73 18 344 31 4 84 3 18 1 4 ft 10 14 04 12 1500 Taatyeaat A Tech ni olor 400 tTeck-Hurh lull Tonnpuli Min inoTorrinrtoii Co Ma 17(0i Trl-Cont war SoOTuhlaa Chat looTubixe Cbat A lOOPnlon Gas Canada K0 tl'nit-Carr 8(0 Pnll Corp ar 4ootUnit Try loolnil Flee 2000 t'mt Fourniers. 0(10 Putted Oaa mo Pint Gaa war 24(0 t'n Et A Pow A 10(01 Pn I.t A cv nr. modi'll Molaaaea LtO 2'idl'nit shoe Ron Elec Pow.

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