Pittsburgh Sun-Telegraph from Pittsburgh, Pennsylvania • 31

Oflfr D'Trfmnf. RTUnt It-VHt THIRTY-ONI! TIIURSnAYT NOVEMBEg.gl.ig!L EVENING SUN-TELEGRAPH Local Hlarket Improves mu-ind only crunt T7tn riTTKrTirnT sTry-nrrcn vrrr 8 IM. 3 Fab Fin 4 lag IFreh Av A 13 IS. 6 3 47, 64 low. 6 3 4 64 il'rt.

6 3 4 64 Following is the list of transactions of the New York Curb Exchange. giving all stocks and bonds traded (00 omitted In sales column of stork list; COO omitted in sales column of bond tot) STOCKS. STOCKS BED LOC'L 1IET Better Grade Industrials Display Improvement 2s Fuels Held Recent Cains A more spirited upward tenth true by the gnat desire noted in securities managements to reaure their on the P.ttsburgh Stock Exstockholders. halt the fright change today. Prices of the which prevailed and check some fuejs did not show any wide of them from emptying out Stl-c.

3 Peo A- 44 Pet Corp -5 PhiLp ipniippe ii. 1 1 FKf.8 Gov, 4 Pilot Rad A 2 Pitney n. 2 Pgh a 2 Plymouth 3Polymet Mf 1 Pow 6 Co 2 Pr White 2 Do pfd 2 tPr Bilk 18 21 Prud Inv 17 4PUHCoww 177, 2 RL Prod A 12 7 Do 774 2 Reiter Fost 3 1, 18 50 8 56 23 3 Fer En 5 Fiat 2 Do de rt 7 102'a 102 13 14 14 16 16 58 22 3 35 68 22 3 3574 HIkU. 8 177a 184 37 1 Aero Tndus I Aero Under 1 1 Air Inv vtc I Airstork vte 187, 60 9 31 15 15 17 2 Fran 3574 .4 Unity M. 74 50Uth 102'a 12 Util 14 58 19 Util Bt 16, lOUtil ii I.nd.

207, 2 Do 23 5-16 5-16 5-16 2 Fst Na Cor 9fok Arcrft. 2 Foltls Fish. to 11. 81 8'i 17, 17 1m 18 134 34 3 424 422 117 117 3 3 5 124 127i 385', 33s 754, 753a 1 1 1 Ala Gt 8 pt 117 177, 50 9 31 15 15 177, 11 6 2 20, 257, SO. 28 98 13 3 12 40 '4 75 1 1 Alex Indus, 2 Aleg Gas I Allied Mills 10 Allied I Do 1st pf 5 Allison DgB 11 674 3 14', 14 334 33a 2AlumCoA 106 106 106, 77 27.

87, 19 8'i 344 34 17 17 a 23 233a 44 3-18 3-1B 234 29 5 6 17 174 48 li 623,4 JVacum Oil. 98 3 Van Pkg. 1374 2 Do 144 2 Veeder Rt. 387, 1 Venez Mex. 77 16 Venez 24 13 Vick 87, 1 Vogt 19 vv 3 Walgreen 6174 6 Watson Co.

1 7, IW'ayne Pp. 11 4 Wen Con A 1W Ar E-p 304 25 Mld It 85 4Wll 94 Zonite Prod 2074 20 93 77 2 13 59 11 30', 5 changes but several industrial advanced 2 to 4 points. Ecttcr grads Industrials worked out of the into ah.ch th-y Bagged over the past few sessions ar.d some of the more speculative issues moved forw ard sharply. Armstrcr Cork was points h-gher on the opening, while Pitf burgh Plate Gass was up a po-nt at the start following the establ''hment of a new low yesterday. The early gam in Plata was extended tn subsequent dealings.

Copperweld Steel ru'hed up about five points tn the first hour, but th-re was no explanation of the advance other than that traders were off the nervousness hanging over from the big slump two weeks ago. Tne stieet 61 174 174 11 74 3074 85 874 9 4 31 22 11 20 4 51 27 18 4 2 P. Cent Pw 2 tr 2 Royce 14 1 rtt Rf rv pp 1 Ross Stores 2 Ruberoid 1 Dud Guen. I Fifth AV I Ryan Cons 3074 21V, 11 20 474 51 27 16 474 30 21 11 20 1 474 51 27 16 474 78 4 55 3874 25 2 Do pfd. 6 Gen Bak.

15 po pfd. 36 Gen rg 11 2 Gen El Gcr 38 2 Gen Empir 26 Some of Recent Leaders, On Profit-Taking, Start Day at Lower Levels NEW YORK, Nov, 21. (AP.) Stock prices moved irregularly higher at the opening of today market, but some of the recent leaders opened slightly lower on profit taking. U. S.

Steel end American and Foreign Power de clined a poirft, and Radio. Montgomery Ward and several others yielded fractionally. Waripn Bios, jumped 7 points and Westme house Electric, Onion Carbide, Pennsylvania and General Elec-tiic opened a point or so hither, Borne ii regularity developed at the opening as traders showed a tendency to take profits after the brisk rally of the tvo pieceding sessions. Reduction in the Bank of England discount rate from 6 to 81a per cent, with a similar decrease by the Bank of Norway, was announced befoie the market opened. Early selling centered largely in such issues as American Can, General Motors.

Radio and U. S. Bteel, but the declines were small. National Biscuit dropped 3 points on the first sale, but quickly recovered Its loss. Auburn Auto fell back 5 points.

A brisk demand was apparent for some of the Investment railroad shares. Norfolk and Western ran up 6 a points. Union Pacific 3 and Chesapeake and Oluo 2 4. Among the many other stocks to point upward at the start were American Sugar Refining Consolidated Gas, Gianby Copper, North American Comnanv, Reynolds Tobacco and R. H.

Macy. Foreign exchanges opened Steady with sterling cables quoted of a cent higher at $4,87 9-lfl. 2074 20 3 10 14 31 20 2 10 1474 31 4 557, 11 33i4 267a 2 Gen Fireprf 307 3074 30 17 16', 16 15 12 Vi 40 14 78 327, 20 118 2 Globe Und. 14 14 14, 22 Gold 3-18 3-18 8-16 1 l4Gld El 6, 6 67, 5Gld Min. 4 3 4 lO- 97 90 In 101 11 St Regis- 20 2 BaltCr Con 2 1 Do 10 2 Schl Zan 15 2 Do 31 1 Bchulta RE 10 4 674 1 Am 34 14 18 47 Am Fw A 23 3 ACP op wr 4 20 Am Oilf.

3-18 117 Am Cyan 30 6 A Dept St, 6a 4 Am 18 Po wr 6234 2 Am El 118 115 115 6 Do 1034 101 102 10 Am Inv B. 10 97, 10 4 Do 50 A Mch, 2 Am in 10 Am Maiae. 2 pt 136 Am Pow 2 Do 1st pf 2 Do 5 An Post 1 An A vo cd 1 AMO 2 An Cn I Arc Tub 1 Argo lAliz Globe. 18 Arkan 25 Ar Nat Gs. 12 Do pf 6 An Hold I Am 1 Asso 12 Asso I L.

4 As A 2 Do deb rt 2 Asso Rayon 2 Do pf 1 Atl 2 Autom 1 Do cvpfpt 1 Axton TA 40 40 25', 25 8 17 17 1074 10 47, 57, K4 9'1f sai BONDS. Abbott Pair 6 42. TH lOAmnama 12 A 0 5. Amm.riuai 8 87 1, 97 6 AH 04 bi 43ww 90 90 t9 A Po 6, 4ft 101 273 Aal OwE 6,28 98 48 Am tlLI 2018. 103 102 'I It Am Hull '4.

9' 11 Appal Pw 8 9, 6s 08 96 4 Aa S.m H6 33 4, IIAbsj 10, las AIU PUw 6 -s 43 64 I Best Cons Gists 47 103 l'O 8 Canada 4T 88 85 10 Cn RvPoNk 3S 307 107 47 Carolina 50. XOOii JuO 61 Ctnt HI M. 75 74 18 IO 6 '46 721, 11 10 Cent 68 lls a Sl 8. ear 4 Do pr pf 51' 50, 504 5 8 59 84 6 874 594 4 Sen Saf 1 Ehattuck 1 Sbeaff Pen. 4 Shenandoah 5 8 694 84 1 C'n 6t CarSVAW 1 tes Sfir 5 60 CiUSB GftitWB 43 69 f3 9 97 9 51 84 88 97 84 95 72 894 62 59 S3 84 MU 97 hi lt 71 95 94 91 hb 92 20 Cities 6-4S '62.

2 Cora Ert 4 a 57 rat 5A 5 3 Cudahy I 27 30 Do 5s 48 20 GO sASTwnr 2bi NG 6- Uww S3 5 Do 4ei 3S Empire 0R 5H 43 ted Water 5St '64 92 9 F4reston CM 5s4ft 594 35 FJrestort 5s 42 91 65 5 rar 72 8a 4 Fift PAL, 5 54 a 82 81 81 llQaMneau 8s '58- 924 WMi 28 GeuThe Eq u'il! 1-1 106 Xn5t GaJtOJ HI P. 97 97 100 jrii) 99 934 AC 5s '47 5 30 Gt nw 225 214 214 10 Do 1st pf 1154 1154 1'5 1 Green 13', 4 13 13 SGroStPvt 11 10 10 2 Guard Inv. 4 44 44 8Gul Pa 13574 134 134 II lOHaygar Cor 354 34 854 I 22 22 22 83 Wal G-W 12 11 114 1 Hires 24 74 24 24 I Holl Mm 47, 474 4 4Hor Har 4274 427, 42 5 Hous Gs 11 11 11 38 Hud M-S II, 10 10 18 Hum BO1, 887, 89 8Hyd El Ser 38 37 37 3 Ilygrd Food 12, 12, 12 I 50 HI Bine. 2624 2624 26274 strong boxes tn their haste to get out of them investments. The Income tax wifi be a factor in the market between new and the year-end.

Traders and others will be evening accounts either to take advantage of the reduction planned in the levies on 1929 incomes, or to establish losses which can be deducted. As result, there should be buying end selling of stocks which could cause quite some irregularity at times, fTHOUGH output of furnaces and A mills have shown further contraction during the week, the Steel Trade Journals report a much better spirit prevailing both among steel buyers and seli- has been discussing a rumor that ers. The atamina which business Copperweld may be merged into generally has shown in face of the Anaconda Copper group the heavy break to stocks, they, through Anaconda Wire and find, has gone far toward restor-s Cable. Gossip puts ths deal on a ing confidence in the steel trade share-for-share basis, but there where it had been shaken. Though has been no official ilit.ma tion.

production has fallen off some-, tnat such deal Is even In prospect, what, the rate of consumption is holding up with no indication of general curtailment and with most leading lines holding their own or Improving. The approach of the Inventory season is remarked as likely to have some effect over the next little while, At present prices, gold dust Is selling almost 50 per cent under its recent high. As a result of the decline, the technical position of ths stock is believed to have been materially improved and those who have been following the eompany are of the opinion that when the market again rights itself, this issue will prove prominent on the upside. Earnings estimates for this year run as high as $4 a share, against an annual dividend requirement of $2.59, Around present levels gold dust yields approximately 6 per cent. SINCE the start of the week.

United States Bteel has been prominent on the upside and market observers are looking to big steel" to lead the list out of the woods. There Is plenty of ammunition on which to base operations for the rise In steel. The directors have declared an extra cash dividend of $1 and stockholders will more than likly receive additional returns after the start of the new year. Regular annual dividend rate of $7 a common share will be earned about three times over in 1929, which will mark the greatest peace time year in companys history. Ambitious program of railway executives, recently outlined at Washington, wifi mean a good volume of business for steel from this source.

Close observers were satisfied that the market, in moving further ahead on the recovery yesterday, was forced to wade through a good deal in the wav of selling pressure. Considerable profit taking was being done by traders who bad bought for a turn at the lower levels recently prevailing, while, at the same time, it was evident that npt a little of the stock which had been bought for support purposes by one means or another, was finding its way back to the market. Scattered selling of that character was reported especially evident in steel common, where one broker, who had been a heavy buver on the break, was on the selling side yesterday. Do. Do.

Do Inrrfttfoftal Rustift snamro a I A Gas ftevient PubLo l. at 200 at at 51 at 10 at oo at lr5 at at ii 45 isl 46 4ft 4S 4ft 50 2 15 23 7 Pow8 A 02 X02H 10i 5 Ixiuts PdrL 5b 57 90 9'H 90 8 Vanttbo 5 A 51 96 95 9j 13 Maas Gas 5ty 46. 1014 101 101H 75 Mi 6s 44 101 1004 loO 8 Mun AS 6 37 103 101 1 17 Narraan 5b 57 98 97 98 SO Nat VA 6sA20k6 102V4 lo2 12 17 Neh Pow 6b A 2 u22 1'3 io2 lu3 102 NY PAL 4bB '67 93 92 93 Nor In Sr 5eC 66 9ft 98 99 Sahla Corp 1 Do 1 Bickford 1 Do 25 Bige C. 2 Blaw Knox. 3 Bliss W.

21 Blue Ridge. Do evt pref 1 Blumenthal I Nor 6t Pow 6it'3 2014t 1014 lol 9 OHO Po 48 56 9i 93 94 4 1 Pen A Wr 6s 49 93 934 9- Forbes- Alany Industries In Urgent Need of Superman By C. rORIlCS ANT CD; Supermen. HAD the original J. P.

Morgan still been alive and active, Wall Btieets forces would have been promptly marshaled to fight the Insensate demoralization which overtook the stock market. At times of prises, J. by unanimous consent, became Americas financial com-uiander-in-cluef. And when he gave orders, no banker dared to disobey. Morgan became mighty, not because his resources transcended all otheis but because his downright honesty was recognized by every individual and interest In the financial world.

Wall Street possesses today no trojan standing head and shoulders above all others. 7 he house of Morgan Is. indeed, infinitely richer and greater ill its ramifications than it ever was in the days of its founder. But the present J. P.

Morgan never aspned to fill the role of America's active financial commander-in-chief in succession to hi fafher. Thu3. Wall Street has no superman Its hour of need. yiIAT would a Mussolini have ii been worth to the oil industry of America and of the world In recent times? What would he not have been worth? Kad there been In the ol! industry a 'towering superman, one whose leadership would have been unquestionably accepted bv other leaders. Think If the billions of dollars of iniquitous waste hich could have been prevented? If such a suoerman could have Issued effective decrees to stop over-pi oductlon, to abolish ci irnmal-ly wasteful methods of the earths storehouse of oil and natural gas, to forbid senseless duplication of drilling, he would have conserved priceless, irreplaceable natural resources for which there may one day be the direct need.

True, Sir Henri Deterdlng abioad and Walter Teigle at home, both giants of great vision and ability, tried to bring about moie sensible conditions, but they have not been able to overcome the forces operating against them perhaps partly for the reason that they were looked upon as Interested parties, whereas the late J. P. Morgan was never, In a crbls, even remotely suspected of desiring to play selfishly into his own hand. THE worlds sugar industry Is demoralized. T.

C. Ulbright, vice president of the American Chamber of Commerce of Cuba, who has been visiting the Philippines, was quoted yesterday as saying in Manila: "I have observed that leaders in both political and Industrial groups concur In the opinion that one of the first steps here should be the voluntary limitation of the Philippine sugar production. We have reached the point where something must be done In a big, broad, international way to place the whole industry on a more economically sound basis through international co-operation." In other words, a superman, able to dictate to the world's sugar producers, is what is needed to evolve order out of chaos, profits to place of losses, PERHAPS the worst-managed industry of all has been coal. Its history has been blackened by periodical upheavals involving dislocation of general business, fuel famines, starvation of miners. The coal industry has always lacked masterly leadership acceptable to producers, to miners, to consumers.

Nor is any superman yet within sight to re-establkh the 'industry to public confidence. i THE woolen industry needs a superman not of the William M. Wood type. The cotton textile industry needs a superman. The cement industry needs a superman.

Cotton-growers need a superman. Wheat growers need a superman to direct their marketing. The lumber industry needs a superman needs it very badly. The rubber industry needs a superman. A NUMBER of Industries have found so-called "czars." In the results apparently have been reasonable "ctl-" ell rrranrl.

Jtfclge Cr-y for tong was the superman rf the industry, He ciid not try to r.ilc with a rod of Iron, but attained his far-reaching influence by example rather than precept. It Is Interesting to reflect that this influence became greatest after competitors recognized that he was ready to consider, not only his wn company, but the interests of competitors and also the public, Herbert hoover proved a superman in directing wartime relief for stricken nations. He Is now confronted by another task demanding the qualities of a superman. Will he prove able, after calling together leaders from all our 28 2874 18, 19 23 3074 65 234 30 554 2 Phila Ei 5 48 72. 102 102 102 Poof A Co 6t 39 109 108 109 17 Pow Corp.NV5vs 47 93 6Roch Cent 764 10 Bt Douis GAC 6s 47 80 10 Ban 944 8hnasheen 7b 21.

95 48 tn OU 5s 49. 97k 5 Buica Gel 8-4s32ww 99 98 5 Sr. der Pack 6a 32 frl 64 60 61 198 20 13 4 13 1 4 Brill A 2 Do 2 Brillo IBritAm TB 1 Brit Celan, 2 Buckeye Pb 4 tBudd Vh. 3 Burma Ltd. 12Bwana MK 28 19 234 30 567, 61 20 14 22 6 387, JSOBPAL'es A2025w lf'2 JOIS' 102: booth Cal Fd 5 44 101.4 loJ I 99 91 5ft Do' 5s 51 I South Nat Gas6s44 69 91 89 99Vh 91 8ft 224 574 37 54 214 54 37 DONORA, Nov.

21. Announcement was made here of a construction program by the American Steel and Wire Company, calling for the erection of additions to the mills, at a cost estimated at $6 000,000. One appropriation of $5,000,000 has been made for the building of a new continuous bar or billet mill for the Donora Steel Mill and two new double-line, 18-stand rod mills for the Donora Wire Woiks All mills are to be electrically driven. An additional appropriation of $1,000,000 has been announced for the erection of a house at the blast furnace, the Installation of bin lorry cars, coke-screening equipment and skip controls. Work on the new projects is to be started immediately.

Structural steel contracts have been let to the American Bridge Company, of Pittsbuigh, and the balance of the work was contracted to Arthur McKee of Cleveland, O. The announcements were made by C. J. Brown, superintendent of the Donora Wire Mill, and A. Fred White, superintendent of the Donora Bteel Works.

wet GftE 6a A 57 914 61 4 5 8 west PAL 6a A 22 3024 12 1024 71m Cn Und Ter Oil limp Brit 3Ind n. 3 Insull Util. 7 Ins Co A 2Insur 17 Ins Share A 2 Inter Winter 4 Inter Prod, 3Int Super. 9 Int Util B. 5 Inter Equit 2 Do evt pf 1 Inter 5 Irving AirC llsotta Fras 3Ital Sup A.

1 Do db rts I Kleinert 2 Kolbter Br, 2174 53 574 12 12 2974 23 8 36 47 2 Taggart 2 Tampa EL. 6Teck Hugh. 1 Tenn Prod. 2Texon 2 Third Nt In 2ThompPr A 5 Thom Star. 1 Do pf 3 Todd Ship.

9S 9iS 99 1, 99 81 97 89 96 97 82 103 103 85 lSS-al-y Mfs 6a '4, i H8 4, lend pu 6- 57 3H 93 1 SJil Oil 5Ui 99,4 es, 10 Swift Co 5a '33 9 99 35 Texaa city 5a 4S SI 7BH 43 Tax PAL 5a 56 9S, 66 13 Ulen Co 6a 694 6914 I Ln LA Ry 6aA5g. 98 96 4 JU Pub 6a 30 97 7 26 rtll PAL. 5a'59-w. S3 79 a 8 Vaivotine Oil 7a 37 103 10 Waldorf Aat 7a 54 103 103 8 Sc.l Ea) a '44 90 ,5 FOREIGN BONDS IB A Ires Pr T'447 ino 100 3 Chile Cons 7 80 9014 90 25 Chile 6s'82 SS, 88 2074 52 5 12 11 2074 23 8 36 47 43 10 5 54 18 7 8 7, 8 27 5-16 17274 217, 33 Torrington. 4474 207, 53 574 12 1174 2974 23 8 36 47 43 67, 57, ,54 174 787 8 27 5-18 1727, 20 28 1 1474 34 -1274 7 9 A 2 Do 3 Do pf 28 CAM Co Vtc ,2 Do pf 7 Can Mar 2Carib 6Carna Milk 1 Carneg Met 7 15 Cater Trac, 57 3 Celanes Am 3 1 2 Do 1st pf 82 3 Cen PS A.

33 15 Cen Sts El. 22 7Centrifug 57s 2 Ch Strs Stk 14 51 2 Chief ConM 2 33 Cht NW its 5-18 250 Cities Serv. 30 1 Do pf 88 I Do pf. 8 3 City 24 lCleve Trac. 20 3 Colg Palmo 57 49 Colon Oil, 7 10 Corn Edison 234 1 Lakey ILane Erynt lLehi 1024 1024 102, 100 90 88 3Com F'r 37 .82 82U Cuban Tel 7' 1 4i 103 lull.

103 6 8ft 874 ftli 83 ik 7fiL'i 81 6'-t 64 6 9 Fast PrusladBfeS 30 96 1 Finland RVIBk 6s 6 173 9 Frst BoG7s57ww 8ft Gelsenkirchen 8s 34 87 5Gef Cons Mu 7b 47 91H Do 6s 47.. 63 4 Hamburg El 7 35- 99 Prussia FS 6Mr 51 904 18 Do fit 52 '4 6 Ruhr GC fi'diA 53 Rumanift Int 7s 5ft Ru'bian lft 4 Do 6BCtfsVCl Do 5a 84- 76 4 Sl 6 64 74 96 73 89 91 S3 98 90 84 4 764 81 8 2 23Lehmn Cor 73 7 56 y4 29 81 334 224 57a 14 51 2 3-16 304 884 244 204 57 19 233 997a 4 10 18 17 396 410 H6S? 7 56 29 81 3334 21 534 134 51 30 884 8 24 2Cfe 56 7 233 984 34 INVESTMENT TRUSTS I 2Tr Air Tr. BTrLDPA 7Tri Con A1 25Tri Corp 2 Do 2Tr Saf Gl. ITr Pik Sto 27 47TranAm rt 5-18 10 Tub A 172 1 Tng-Sl Bp, 2174 lUlen Co. TDaNGC.

61 Union Tob. 4 Un Car Fas 1U qh pt Pf 22 Un Crp wr 8 Un Dry Dck 70 117, 2'a 274 174 18 1874 1874 15 15 334 33 37a 3 27a 18 184 15 34 3 2 Leonard Oil 6L McN lLily Tulip. 1 Loews db rt 2L Gas n. 8 Lou E. Ji vl rv 20 28 1 147.

34 1374 7 55 hi 24 24 38 174 1 lMMarr Sto 244 384 174 1 10 38 24 23 lOMargay Oil 3 Mavis Bot, 6 Mesabl Iron 5 Met Mm 1 Met Ch Str I Mid United West Do Do. Do Do. W4 Po. Do. DO loO at 210 at 25 at at DO at 81 37 1 1 9 10 33 38 24 244 27 277, 107 107 164 1774 101 101 36 36 874 874 NEW TORE, Nov 20 Fallowing today i bd and flaked quotations on Jfi vestment trusts.

JLondon A JCmp forp Part, so 40 Am it Overtons Invest HO 111 All Amer Onl Corp 11 14 Amer A Continental Corp. 20 22 Bankers fwitl Investing 20 30 Nanduia Corp 17 British Type Invest nW It 124 Colonial Invertors Corn, 22 214 Crura A Foster lush 75 5 loft 92 24 22 18 44 38 19 18 32 37 10 59 9 65 57 19 25 1 Do preferred 97 1)0 Inc B. ,,.,4,,,,. 80 Chemfo-il Nntl Aran 21 iPIi-'fl(-ii Trustee ttharr. -Do Continental Shares Chatham A I henix Joiity Investors ixd Trust Shares 1)0 Incorporated Entitle Incorporated Investors Investment Trust of Investors Trustee ot Inti Carriers htd Mohawk Investment Amer Trust Hiares Oil Shares Incorn unils pow A It Feumtips tlllty Hold oCrp.

fieiuritles Corp Gen Straus invest Corp new Do units fteennd Inc Eoultjet ti Metric it A Pr Pheres, tT ft Kle'Urtr Power Corp United Founders 41 HOT 1 14 6S 937s 23 lOV 97 4 33 6 14 6'4 93 2.1 10 33 54 Do. 10ft at 3 1 2Un Pf Sh. 2Un Rep B. 897 4 14 674 93 23 10 87 33 6 17 1274 1874 78 7 OITFOT ST DIVIDEND NEWS 9 Com Pow 45 Com flComst Tun 1 Com Wk 2 Con Cop 3 Con 2 Gas Ut A 12 Ldry Co 50 pf 1 Coop Bess. 3 Copeld PrA 1 Cop Range 2 Cord Corp, 2 Cor Rey.

4 Do pfd A 5 Creole Pet. 5 Crock 10 Crowley Mi 1 Crystal Oil. 2 Curtiss Fly 15 Curt Wrt Nat; City Banks Policy fended 173, T74 134 124 1614 16 74 75 77 64 7 2474 221 224 30 41 9 2 327, 41 974 3 327 41 94 2a CHICAGO BOARD .41 Do pfd 10774 6 Mo PL, 17 125 Moh 1 1017a IMor Elec 36 8 Mount prod 874 8 Nat Amer. 11 107, ,7 Nat Avtatn 13 10 4 Nat Fam 13 17 Sc 27 27 18 Nat Invest, 17 16 INat A. 25 25 INat Screen 1774 1774 1 Nat Jour 6 8 3 Nat 214 21 2 Nat Un Ra, 9 7 a 9 2 Nauheim 2 2 tlNehl Corp.

174 174 INelso C(H) 257, 257, 1 Newby JJ 55 65 2 New Bradf, 3 274 30 Eng pf 91 9014 1 JNcwmon M.133 130 1 Newport Co 2374 26 SNYInvesto 27 26, 1NY Pt Roy 11 11 50NYT 6 pf 112, 1128 lOONiag 144 144 9 Do A war 4 2 Do war 7 SNiag Share 217, 3 774 21 The following quotations on the Chicago Board of Trade are reported ty A uastwt A Tear As Yesterday Onen'g WHEAT tMo Close Todiiv December 115 11 121 li.t Marth 121 8 1 May 124 10, 127, 18 27 16 25 1774 6 2174 17 25 55 3 so, 130 2674 27 11 1124, 14, 3 7 21 30 1 36', 6 43 15374 132-4 mi sal at, tEx-dividmd. JEx-riphta, (Under rule. Cities Service Net Sets High Record NEW YORK, Nov. 21. (AP.) Net earnings of the Cities Service Company for the year ending October 81, were the largest for any 12 months to the history of the company, amounting to the company announced.

The October earnings were $3,874,349, a high record for any company month, and comparing with $2, 891,169 in October. 1928. After allowing for preferred stock dividends and other charges there remained out of the 12-months earnings applicable to common stock and reserves, $28,941,426. or $1.13 per common share, an increase of $4,425,327 over the corresponding period last year, Brazil to Pay Loan Interest to France PARIS. Nov.

21 AP.) Announcement that the Brazilian government had given Instructions for payment on January 1 of interest coupons on the 1911 Brazilian loan iloated to France was received with favorable comment in financial circles here. The payments will end years of litigation. The announcement was made by the ministry of foreign affairs. Plate Glass Output Higher or Oclober Production of polished plate glass for October was. 14 620 904 square feet, compared with square feet in the preceding month and 11,140 217 square feet in the corresponding month last year, according to Plate Glass Manufacturers of America.

Bank of France. PARTS. Nov 21 Th wofkly of the Rank of Fiance -howa ihw chnny In franca. Gold lncrcnaoj 241 000 000 i.it hatuntPB abroad, 17ft 000 Mb discounted At home dcctt'acd 97M mn ooo bill briicht abroad, Inrreien. 2 000 000 ftchsnces deerca 40 000 0nn circulation, decreased 517 0)0 000, current, imiunu, Intruded 39,000,000 Jlftlft of I discouut 8V 9f cent 10 Dixon Cru.

1647, 1644 1644 lu4 91 61 100 65" 10 27 Dtcemher 88 i IM ircl 3 Mav 81 OATS December 48 Nr' i 47' PtH.mber OSH Marctt 108 'FaRO- December 11 57 12 03 fab. ftaUroaib. Con.oliealed Rrod ol Cub. eclrl rcuar qaeir rly dividend of IS par cenl Sn 3tS ux prarrtrt stock. PAyab Januarr 2 to reccrd Deiember 1 and Cuba Kortbern ivu trvais of Cuba, diary 1 4 aec.ared lha urutU annual dend i of 4 49 a hare.

paabi Lacaibef 2. to recoi aame date, Ceneral Case Eitra. General Oai and Electric Corpo ratio declared xfra dwdends of 50 cents ea gau A and cotcmco stoukB, rayao Jatuan 2, to record Noyambef 29 civ.dends may applied ta the of ctmmoD A' fttocA at a altan, White Rock Ettra. Whitt Rock Mmerai spnnKi declared aa extra dHidend of ftl on common and 5 on eerend preferred and wuar quamery dirieniB of 75 cents on common and ft 1 9 on first preferred and $3 75 on lecond preferred aU payato a January 2, to record December 20 i GeocroJ Pnblis eorrlea. General Pub 6 Service declared rerulat semi-annual d'Adend of 3 100h ot a 7ftrs cnimjoa cn eonToo 8iok, pay-alia Deeerrber 31.

to reco-d DecerHer 2f and reruar cuarterlv videnfi of Si 37 re on S5 50 preferred and SI 50 on ft6 preferred pa February to January 10, frown 55Utlamrtte. Crown Hnamette Paper Company dared an lr Uai qarterb dvtoeod of $1 on tbo comutt atun'k, pbdr iru on $4 mat bn' paiabie D-oecrbef i-t, to monl recemer 13 The ret -qnnnerlv dUldends of $1 75 on te flret preferred and on the second pre erred re also deeTared, payaolo January to record 13 H. Mohuek fxtra. H. P'hack CnrepaY dec'tired ftn ox tr dividend of C7H rente on rayabla Dekmbft 15.

to record Noveaosf ja- PIVUirNM MHINGED, Favabe Peeorft Tevns fhilphtef tl Pec 16 nec So4e $1 25 sft IVC 20 Nov 36 Suty $1 23 Jan 2 -D-et7 NipiA' na ire. Tv Jin 21 I'Ve InternvT 53lt pf Jin 16 Amenn irtpft 60c Dec Si rer 19 Po pM 5t 7a Dre 1 No 15 Amerlott Ch $3 1 Jan 15 73 F-! 1 Natl Pup Serv 4(W Dec Xo Nov 27 Rubber Market. NFtV vnHK V-v 21 -Riblep Juf --a opened bareie teftd Dreumbor, Jo AUJcU. 37 10, Mv. AT 6J.

48 4h 60 Vk 99 1 02 I 02 10 12 10 90 II 27 10 50 11 2f II 00 Average ingot production to the steel Industry is now down to a shaie over 71 per cent against about 73 per cent in the preceding week and between 77 arid 78 per cent two weeks Rgo. Independents are under 70 per cent against better than 72 per cent last week and a little over 75 per cent two weks ago. United Stitw Steel Is at 73 per cent aator 7L per cent a week ago and a frr.itlon over 89 per cent two weeks ago. At this time last year United States Steel was running at between 79 and 80 per cent with independents at 82 per cent and the average was about 81 per cent. The National Association of Flat Rolled Steel Manufacturers, which Includes practically alt the independent sheet steel and strip makers of the country, reports operations of mills to the past week as follows: common sheets black and galvanized, 69 percent: full finished sheets, 49 per cent; hot rolled strip steel, 28 per cent; Cold rolled strip steel, 27 per cent.

Subsidiaries of United States Steel Corporation are not members of this association, but activities of plants of the leading interest on these products are at practically the same rates as the tadepend-nts. Full finished sheet mills as well as the hot and cold rolled strip plants are feeling the effects of the dearth of business from the automotive Industry. Liverpool Wheat Market. ttVFRPoOU Nov 1 Vhftt du I trc ft ()Pfnd ulchBngfd to ofhfiv up And ftt 1 JO p- so i to 2 pac Ujfc 11 Wi ins WASHINGTON, Nov. 21.

fAP.) How the National City Bank, of New York, one of the most powerful financial institutions of the world, loosed its pure strings to advocate lesser duties on slgar during the tariff dispute was related todav to the Senate Bobby Committee. Aitparing as a Witness before the committee, Gordon S. Rent-sciiler, president of the bank, testified that Its monthly bulletin, which cost $200,000 a year, was used to disseminate material on the subject and that a. direct contribution of $10,000 had been made to a fund for use to presenting to Congress information advocating a low tariff on the product. Mr.

Rentschter was not asked and he did not volunteer to estimate the proportion of the $200,000 annual expenditure for the bulletin which might be charged to the Item of sugar duties. The bulletin, he said, was issued for the discussion of general business conditions, and he expressed the opinion that his company had a right to give its views on any economic problem. Asserting that the bank was forced Into the sugar business after the depressions of 1920 and 1921 In order to save be-tw-een $30,000,000 and in slow or doubtful loans in Cuba, the witness asserted that the institution would liquidate its holdings for 'a fair return and did not intend to remain In the trade permanently. 12 05 12 27 29 17, 36 6 43 15374 December January May 11 28 11 90 2 Niles Pd 304 2Niptss Mm. 17, 20Noran 37 15 A Aviat, 674 1 North B.

43 2N Pow A154 BANK CLEARINGS Pittsburgh 125 Ed Piet pf 2 Eiser El. 247 El Sh 20 1674 7574 20 16 16 731a 75 it Exchanges $34, 756,033 Balances today 14,018,88138 Exchanges week ago 40,066,003 IB Balances week ago. 17 288,482 48 Exchanges year ago 38 609,700 18 Balances year aco. 13 252,194 55 New York, Exchanges $1,405 000,000 Balances 240,000,000 Credit bahnea 142,000.000 iJni ted States Treasury Receipts Nov. 19.

7 413,498 Fxpendituies 8 035 339 Bala nca 129,119,727 1774 20 19 20 2 tPennevApf 5 Penn Mex. 19 20 .034 90 16 30POEd pr pf 1034 1034: 20 Do 6s pf. 90 90 60 Peunroad 1674 1674 17 a 1 Ser wr 6 EV Wal Bd 17 614 man. Success to him I U-0, By IU C. Batbu.) if.