The Brooklyn Daily Eagle from Brooklyn, New York • Page 27

Brooklyn Daily Eagle Financial Section REAL ESTATE SHIPPING QUOTATIONS BUSINESS NEW YORK CITY, FRIDAY, DECEMBER 6, 1935 HEADS BANKERS SEEKS CERTAINTY Francs Rise What They Talk About In Wall Street New Burst of Speed Marks Current Trade Advance From Level of Previous Week One of Widest in 6 Months Wholesale Orders for Christmas Merchandise Show 20 to 25 Percent Rise National Trade I Conference Fire Works Expected Beyond Gold Export Point I By EDWARD A. RUHFEL I Gain of 31; Points Is Made as Short Sell Business entered the final month "Shipments were more frequent of the year with a fresh burst of anci 'n lrger bulk than during the ers Rush to Cover The improved political outlook in Valley Steel speed, Dun Bradstreet, said Am Indecision continued the main characteristic of the market In today's trading. There is no question but that stock buyers are much more choosy than they were. Also, many of them are much quicker in taking to their heels. This is making for quirk swings in individual issues and length side by side with declines.

Belief in good quarters is that some-ihlng positive in the news will lave to appear to give direction to the market. Whereas the news from abroad was distinctly better today, parts of the Street are worrying because the France and general confidence that PTtrnitr Laval will obtain another Many Industries to Be Represented Many Others RVfuse to At-tend-INo Limit Placed on Discussions or Topics of confidence today has brought Schedules Put At 62 Percent extensive covering of short positions in French francs. in its Weekly Review issued today. Cold weather and snow brought increases in retail sales in all parts of the country, the survey said. The adva ce from the previous week's level was one of the widest in ner.rly six months and ranged from 8 20 percent, with the estimated gain over the 1934 comparative averaging 9 to 15 percent for the country as a whole," it stated.

"Wholesale orders for Christmas urgent need of goods. "All items of house furnishings, wearing apparel, luggage, radios, hardware and electrical appliances at an increased pace. "In a number of lines difficulty was experienced in obtaining shipments on dates specified, and shortages togethe- with the heavier demand pushed prices more definitely upward." the 'view concluded Big Industrial Gain Influenced by active demand for 'kicking" manufacturers bid fair to francs, the bulk of which is believed to be coming from Paris, spot francs KM Bolt and Nut Thomas J. Parkinson rict'. recovered to 6.61 up 3 points.

The market for future francs is merchandise in several divisions IncreasedInland Ma Raise Capacity Urges Ouster Ii strial producliui have bulked larger by 20 to 25 per- kick the "breathing spell into a cocked hat. And, says the Street, when it comes to politics. President Roosevelt and Postmaster General Parley rati give cards and spades and lessons to any "bunch" of manufacturers that pver sought to sit in this quiet but the discounts have rowed sharply as compared yesterday. for final quarter of this year is high- tnan a year ago, it aaaea. Washington, Dec.

5 4j Nearly 60 Ohio manufacturing and business concerns intend to be represented at the National Conference of Industrial Co-ordination here next Monday They have accepted invitations extended bv Mat George L. Berry, Co-orriinator for Industrial Co-op "Wholesalers had another good est for that period since 1929, I The sharp reversal in the franc 5S Of Uncertainty enectiveiy snut.s on the now nu schedules show steel output next week points to 62 percent merit from Par to New York least for the time being. At present I Rate of operatic during final week of November was apparently sustained at the higher level of recent weeks, despite Thanksgiving holiday. tinning to mount and mail requests for heavy clothing and Winter merchant! gaining abruptly as stocks at retail dwindled under the pressure of insistent consumer buying. John J.

Hayes, assistant vice will rlimb i president of the Manufacturers nf rapacity Trust Company in charge of the jne Youi lor tne iranr goto could be ii. KnA eration, for the meeting which he Sheet Tube said would be to discuss future wage moved to New York only at Electric Bond Share evidently deems discretion the better part of Thursday blew in another blast fur- and labor policies. leap, of Indefinite Govern the list oi arceptaiK aior. Except tor a tew clients, hich were the principal reason thi ment Trend president of the Bankers Club of Brooklyn at its annual meeting, held Wednesday. Mr.

Hayes Is secretary and treasurer of the Kings County Bankers Association. The rapid Improvement in francs has been communicated to other gold currencies which show good gains. Sterling on the other hand1 holding company was formed, It had jN.Y.State Auto Car Loadings rut its investment in utilities cot panles to less than 5 percent each Removal of uncertainty and marie public today. Included a number of Ohio steel roncerns. among them the Republic and Truscon companies of Youngstown.

although the American Iron and Steel Institute has declined to send a representative. Also to be represented are the Goodrich and the Goodyear Tire (V Rubber Company of Akron, nace at its Campbell Works and will resume production at its idle Bessemer Saturday or Sunday Not since 1929 have Youngstown Mills seen so busy a December Bolt-Nut Prices Up Bolt and nut prices have been increased about 7 percent for the first quarter of next year, according to Daily Metal Trade A Icadint! Pitts President Gay of the New York Licenses Rise For Week Down jj Exports h'rx'k schange tooav supplied sterling to corner snort positions in part Governmental participation "$8, in business was strongly advocated Thirty day francs now are quoted I c.f hv i airnno highly significant data concerning nominally a discount of about 6 1 Drsident nf the Chamber of Com- Kwtimntwl Increase in Decrease From Previous points under spot against 1 To Italy Up tne "little fellow's" market attitude He found that 13 brokerage houses Classify 58 to 64 percent of their odd-lot business at this time as on a cash basis. Up to 1930 the cash proportion ran 20 to 25 percent. Receipts Over 1934 Is 7 Days Due to Thanks- burgh producer Hist opened his dustry The American Rubber day while the 90s are about 16'i compared with 23 yesterday. Placed at $1,665,070 giving Above 1934 i Increase lor October merce oi tne state oi New YorK.

at the monthly meeting. "We cannot too often emphasize that participation, intervention, 'aouwaijai we may call iU of Government," said Mr. Parkinson, "must take into consideration first, last and all the time the importance of deflniteness books lor the period with discounts Manut.icturers Association 'ip not throughout the list reduced. It is yet replied to its invitation expected that other makers will Im- How many rejections were re- mediately follow. ceived from Ohio was not learned, At the same time rivet producers the list compiled by Berry's asslst- Also Is Shown in Gold From Abroad The Irving Trust Company is receiving 11 cases of gold valued at $561,031 from Prance on the Bremen.

The Bromen.from Cherbourg, also brought in 76 cases of gold con Washington. Dec. 6 iP) The Association of American Railroads reported today loading revenue freight for the week ended Nov. 30 totaled opened books for tirst qimncr r.miiinimi: nl acceptances. Sales to Great Britain islness at unchanged price? Cotton Men Rampant The significance lies in the fact that cash buying is seldom speculation; it is Investment.

Incidentally, it won't be the fault of the present Exchange officials if the public fails to get a better idea than it ever had before of what the and the removal of uncertainty. nd set screw prices also a haneed for the period. Albany, N. Dec. 6 New York State's 1935 receipts from automobile registrations and operators' licenses will approximate a record $42,987,258, State Motor Vehicle Commissioner Charles A.

Hart-nett said today. The estimated Increase over 1934 receipts is $1,665,070. In announcing the figures. Com- signed to Chase National Bank. 35 otherwise, much of the eflprt Which to National City Bank and 53 to has bPen put forth by Government.

Gondrand Shipping Company. much of the co-operation that it The steamshi Max Hoelz. from hurt in aim nasi much nf the xchange is all about. President day initio arm.nH onri tollrlno ii, Leningrad, brought in 670 cases of Dnnri that it has done, will he lost While some big industries may have the "NRA jitters' about the business conference as Berry says himself cotton spinners are coming io town next week in force to air their troubles. About 100 members of this industrythe first to formulate a code under old NRA wrote they would be here for the industrial co-opera- 570.427 cars, a decrease of 76.076 be- Washington.

Dec. 6 Iff) The low the preceeding week, an in- commerce Department reported increase of 82,242 above 1934 and an day that October exports to Iaalv increase of 70,831 over 1933. oved a 35 percent advance over The decrease under the preced- September ing week was attributed to the Exports in October were valued a i Thanksgiving holiday. $6,529,365 compared with $4,795,887. Miscellaneous freight loadings Tne incrpaSe, however, apparently were 228,278, decrease 29.273, in- was seasonal.

In October, 1934, ex-crease 46,827. increase 45,238. porta were valued at $6,225,917. corn-Less than carlot merchandise, narA ti7difsso the iwiwIaim Inland Outlook The Tnland Steel Company ma find it necessary to expand its open-hearth capacity if it is to participate to the fullest extent in anj material improvement in the demand for heavy steels a develop Pacific Coast cities. Executive a010 anQ smer precipitates con- because of the operations in ioner Hartnett said tnat auto- signed to Amtorg Trading Company, business world affecting credit and i mnujlp reeutratinnx this vear Vice President Worcester is pinch- The theatrical demonstration nitting ror President Gay South.

ment which is nnn regarded Nov. 1, were 2.326,584, a gain ot Mr Parkinson referred to the 934 same riod ear To ofeneTon thepart of Government Despite! reRistratlons included in 1 possiDiuty lor lajb. 'The textile people," said an aide the heavy steel classificatic. 846 decrease 23.245; increase 1,077, montri decrease 3.733. The department previously had rails, shape and plates, used princi first 10 months of this year were unity over the desire to disarm the Fascist leagues in Prance, which was staged by the Chamber of Dep-ties today, took the Bourse no less than the Chamber Itself by surprise and the reaction in the prices of securities was equally as dramatic and sudden as the reaction of the foreign exchanges.

French rentes soared, closing 1 Wall Street people thought they heard warnings to Japan before, without halting her advance in China. Rumors are current that Gulf Oil 5 hr made PMc figures on October pally by and the to Berry, "have shown a greater interest, in this conference than any other major industrial group," But with no limits on the scope 1,973,594 or 46,203 more than in the lslation. he said, the law left grave doubts as to whether it applied to all the national banks of the coun- wiccujc i American trade witn Italy, out oe- rtjn indnatra dese ttrtWSfttfS I it r. trUIti0wortS comparatively lit- of discussions, Berry's lieutenants crease 3.688. Western districts DtD impiovcmiiu in us dusi- same months of 1934.

The number of commercial cars registered up to last Nov. 1 was a gain of 7,559 over the 10-month period last year. bring inland face to tue SS2W tSTttaSS prised if the spinners Texsus Gulf Sulphur holdings to 733. Increase 3,367 "got a lot off their chests" about processing taxes, elt's neutrality proclomation. Increased trade with Great Brit- 10 irancs aDove inursaay close.

I Their example spread to all French Foreign Markets London. Dec. 6 Business on the Livestock 13,026, decrease 2,382, decrease 2,847, decrease 1,366. Western districts 9,851, decrease 1.934 below 1934. in in October was reported.

buy steel from Nothing advertises stocks so well i bonds and shares while internatlon- her producers an8d compcniatlon taxes for com ine unitea mates exporieo jfooos However the art of steel making hat SEC to Clarify as a rise. The copper and silver al issues weakened, groups are now on most everybody! alued at ISMBWW to tne unitea I become so highly specialized and Forest producus decrease KlnKdom in October this petitive oners and gooas, ana Japanese competition in the domestic market. the finishing methods of each pro- I Stock Exchange was quiet today. I Industrials and Transatlantic Issues especially nickel shares, were the firmest sections. Oil and gold min- ing shares eased, while other stock- pHred with S46.829.ft98 in October, durer singuiariy to his own needs Finance Rules m-decrea 325' increase Sees City War be likely 4269- at $16,580,013, comnared with Fiospectlve buyers of the ran take their choice of reft tslrie negiectert.

rne maricet ciosea Coke 7,777, defrease. 66. increase 3.310. increase 1543. Aorainst Farmer inwu? 'NEMA' Calls It Bunk The National Electrical Manufacturers Association will not be represented at the conference called by Maj.

George L. Berry on Dec. 9, it has notified Major Berry, be- purchases. One faction is talking clvidends, another higher copper end sliver prices. 231.250 last.

Great Britain still was the coun- try's best customer. Canada ranked second with purchases of Paris Rentes shot upward on the Bourse today, advancing two to P. R. R. TO CELEBRATE The Congressional, the Pennsyl-ania Railroad's famous flyer be- ALASKA JUNEAU NET OFF 148 in October this year, compared dv, w.j.

wasningion, Dec. con- i three points as the Chamber of Dep- twii lhat validation of the AAA uties compromised on the question "''if constitution! hr-! of poUtical leagues which apparent- mis is a most inopportune New York and Washington. be considering legislation $16,402,388. against $26,994,307 in Oc- annivenarv on Safurdav. One ot continuation of for NgA.

which a large fore long. There is some to of an rier to such redistribution-of-wealth-1 gBBESh LE Increase by Cerro de Pasco, and also schemes "as were als0 registered a sharp advance but the world's most noted $190,500 in NovemDer, ivu. tieven months net was $1,711,800, against Total exports for the month were one of the first oi the exclusive v'1 01 rtuiu.s $221,237,929, against $206,413,068 last limited type operated anywhere, it unfortunate fiasco. ii 7 T.u aovocaiea oy tne iate fiuey Long internationals declined $1 annual basis within the next few was aavanced to the Supreme Court ket closed firm. $2,074,350 in the like 1934 period.

There is no doubt that there has' Unwilling to sit idly by and allow a temporary halt in the flow of public utility financing to develop Into something more permanent the Securities Exchange Commission is likely to issue in the near future a formal statement clarifying the matter of operating company financing bond attorneys believe. Such a statement would attempt to indicate what sort ot financing is feasible pending conclusion of litigation over holding company registration under the 1935 Utility Act. This belief is based on the well accepted fact that the SEC has been highly pleased with the Impressive volume of public utility financing, mainly in the field of operating units, which ha.s token place in recent months. ar and imports were $189,239,865. maae its initial runs mpared with $129,634,816.

tions on Dec. 7. 1885. momns. today by John E.

Hughes. Chicago Berlin-The Boerse opened dull Money Market G. E. TO BUILD GENERATORS I The General Electric Comnanv Farm Program Called Fraud Hwornry, todav. Prices tiuctuateo narrowr Packard was bought In huge Representing several nut and and the market closed quiet, blocks today, one of 2.000 putting companies, he filed a brief the stork to 7.

Later it went a lit- as a "friend of the court" in con- nt' 1 1 If. litue buiUleTtXhilJ I "'tTTr1 ward sales Hit ha.s received an order to build two Ca mn ft more of the big 82.500-kva electric qlll-ns nf parent generators for Boulder Dam al a Spo, silv "Ff Hiiimiv iv Harmnii miof siier based on current reception of Its lation in the Hoosac Mills case icht cars. Moreover, buying of the Terming the pr.K essiiw tax uu-heavy ones Is said to have been constitutional and illegal predatory New Point Washington. Dec. 6 I he New will be started in the Schenec- New York, foreign.

65 rents, unchanged: domestic, 77 cents, un- als Farm Program was aenouncea Udy factory In March, 1936. uillate' of one class for the benefit The Federal Agency views financ- ing of the type which has been done Lourt Jonn "avls, Vayf TO ADDRESS BOND CLUB changed, and London. 29 3-16 pence. Wendell L. Willkic, president of the Commonwealth Southern London Gold Price Corporation, will be guest of honor Gold bars were quoted in the Lon-and speaker at a luncheon meeting don open market at 141 shillings, of the Bond Club of New York on against 140 shillings 11 tj pence Dec.

19. Thursday of another, the brief added: Montgomery Ward Co reports "If the law now under coniidera- November sales up 14.9 percent, the lion is sustained there is nothing best November in the company's in the Federal Constitution to pre- history. vent the 56 percent of the people November sales were $30,910,462 who, according to the 1930 census, against $26,900,806 in 1934, and 10 live in cities from banding together months. $248,118,454 against been a very substantial business recovery since the Supreme Coun derision in the Schechter ca.se on May and we believe that a large part nf this recovery is due to businessmen having turned away from reliance on Governmental interventions and relied on individual and co-operative action to expand their volume of business, with consequent increase in employment." Moore Attaeks Share-the-Wealth Senator A. Harry Moore of New Jersey attacked share the wealth" politics and "wild-eyed pied pipers" in a speech before the Association of Life Insurance Presidents.

Speaking in place of Dr. Harold Willis Doods, president of Princeton Um-versity, Senator Moore urged a "re- Hitting the New Deal a threat in the savings of the public. 400 ex- Upward revision of freight figures yesterday was well-advised in I he light of the actuals published today Original guesses ranged Biound 500.000 cars The revision was to 575.000 cars; the actual loadings were 570.400 cars, again better as the natural forerunner of exten- "au ul "lc "A sive new capital borrowing. Davis contended it was an utter PLAN SUGAR RATIO impossibility to satisfy the Commis- An Amsterdam dispatch says de- sner of Internal Revenue that crees drafted for the organization such a tax on the act of processing of the Java sugar Industry provide had not been Included in the price for the government annually fixing or passed on in some manner." a maximum crop and the retention "The United States." he added, of a single seller. Crop fixing will "is seeking to get and keep the depend on marketing possibilities, property of its citizens, notwith- with special provisions against ac- standing the invalidity of its exac- ana imposing a tax upon tne tarm- 310.649, up 18' percent and prourinu: for the distribu The hmhest previous November Real Estate News tion of this ta to themselves in consideration of voluntarily' entering into contracts with the Govern- Montgomery Ward had the best Noyember in its entire history as far i as volume was concerned.

Which were S2HHO1.303 in 1'J. In October, this year, sales of $35,897,447 were the highest for any month in Ward's history and 20.8 percent above October. 1934. to remain idle, thereby limit By VINCENT KIRK ing the supply of personal service cumulation of stocks. I Hons.

mi incici ni of that commodity on account of Flushing Deal Caton Ave. Corner To Be Improved the scarcity thus produced. Then, indeed, will the way be open for class warfare." Shipping Table Incoming Passenger and Mail Steamships St Sharapan Is Followed by rv 1 1 ral flrst have been commissioned to prepan K'rriay 0icncd plans for a one-story and cellar i'e 29th annus- A Line on Liners Uweiling nans uilding, to be erected on Association of speaks very well for the contribution of the agricultural regions to recovery. Much of the strength In International Nickel is due to heavv British buying. The stork for some days now has been the reigning favorite in the city.

Merchandising shares have been creeping up. though the movement has been lacking features for the most part. Both sales figures and the weather are coming to their aid Houses that have sugar connections are suggesting purchase of fome of these issues again. iLUSON. 01(1 Domini ne corner of caton Ave.

menus. al me A tract of about 300 lots at Rocky S'. Po "x71. for TOM GULLET Hill Rnsri Hollis Court Boulevard. rBraoroD torporalion.

uiji The North German oyd line. 48th Ave. and 194th Flushin, buMiiK will contain has been purchased by the Seuln. 1 'A1" ros' ''PPi-ox- Bremen arrived In port too late to Dime Savings Bank Brooklyn, told the convention that he saw excessive taxation taking not only a portion of income," but also "ac- Outgoing Passenger Steamships i 'onsiniciicn dock yesterday and spent the night anchored off Bay Ridge much to Asso- the Dooley-Stapleton Resit; TRANSATLANTIC TOMORROW ne cnagrin ot tne reporters who lad counted o.i leeping late this Plan Apartment AMERICAN SHIPPER (United elates ot this oorougn. George M.

Seglln. president the construction firm, who i.s Collens, presides uttial Life Insura mforri Conn. I. Bmh Docki, B. morning, but who had to arise at 5 the Pheonix Company of rind against the legal swears that one ot his grandfather, was named Alex ler MacTavlsh explained th it was a special pudding which Scottish people place high above all other foods and that bagpipes are as essential as a fork in eating it.

The haggis Is featured on the Laconia. sailing today for Scotland and the first Cunard excursion to the River Clyde. No No Haggis Others claimed that no one but a mid ever like haggis. For Queens Plot Though not entirely out of the woods, it looks as if a few months m. to make the early cutter.

The Bremen rought In twp celeb-ties. the Rt. Hon and Most Rev. eiiombi. architect, ha.s prepared plans for BtarisMl) tlle Ittiprovtment of the land with canl Zonf six-room dwellings on two-lot plots, more oi peacr in tne iorelgn ex-tliatise markets can be looked for William Temple, Archbishop of 1.

HARWOOD (R Hailld The French franc lumped over the hut die with ease. Next question i and of England, w.m ecturc at a number of Amer-unlversitlea during his five whether there will be any heavv weeks' stay, and Max Schnielmi: a mber in oori standing in the Win witnartwiu ot tunds from this side Chrysler continued to find offerings too much for the demand. Recently this has been ascribed bagpipes and I lull composed of ex-champions in he heavyweight division Schmcling la Kil.il not sailing on the Laconia And I like onion soup. Per- according to tne rianeran Agencv. broker In the deal.

Long Island Homes In Recent Deals Droesoh St Sons, Inc managing agents, sold the house at MM 258th Floral Park, to William and Sarah Nicholas; leased the house at 4716 188th Flushing, tn A. V. Jarobscn; an apartment at- 23 Walnut Long Beach, to Frank Gelfond; an apartment at 119-21 Metropolitan Kew Gardens, to i i 8. Green: an apartment at 97X4 Al 2, and 4 ror building Will be read ciipanrv accorduu; 1 shorl selling, but the Idea got see htps it Is the cold weather and Max the Mighty rame over he ficht between Joe Louli cany Hours iliai allecl the round loony tnat unions switching Into the low-priced Paulino Uzcudun In Madison Square sntp news men like that. tors on the theory thai percentage Gulden on the night of Dec, 13.

Of mitv ship leaving port tills week pi of its would be larger. e. he could have iound a hig Cigar Consumption Shows Large Gain rut I carried a large numoer oi ior- Boro Firm Lowest In Post Office Bid Swrdrn nd U. eign citizens who are returning to The market must be getting back their native lands for Christmas. her and possibly bettr.

fight had he chosen a tropic 1 cruise to Ethiopia, but he hopes to keep the Jicure.s released 1 The Col to normal, said an erstwhile trader Every foreign citizen we know who SCANSTATKfl of this borouch has MeVchant.s giving Octo- today. Im getting tins again. SANTA ELENA Said trader also seemed considerably more interested than he would planning to leave in the next few days. They tnore our American lendale St, Jamaica, to William Saloy; an apartment at New York Boulevard. Jamaica, to Alexander Cricchio, and an apartment at 118-41 Metropolitan Kew Gardens, to Mrs.

A. McLntighlin. ping blows with Louis or Jersey James Braddock at some future date and has come over for a bit have been some months ago. the low bid of $439 000 tor the con- 101 strurtlon nf the Madlsnn Square Post show that cigars jumped Of I ice sub-station in Manhattan 'he corresponduiB month last year. The total consumption for LUGGAGE HUM LEASES October, 1938 was William White mid Soils leased' E1 Produc I nl.ul, tills gain Good quarters arc savim: thai the A MARIA Klrarrl SOUTH AND CENTRAL AMKRIC WEST INniES AND CANADA TOMORROW WIKIIICAN IEGII1N iMoi.Mic lol group won't wall until Spring for its of kibitzing.

Yesterday afternoon, while we were wondering why the Bremen couldn't have come In a few hours later and arrived about noon, a Plan More Homes lor ihe .01 .1, Venue for- 1 out to a For East Flatbush ICw.ni" (Treasury Statement! tsslon was raging In the ofti ho'i 'ays. as Hie Fourth of July and Armistice Da: but every one but the Chinese and Japanese seem to have a dea'" be home on Dec. 25 Rrooklyniles i Miss Irmn Bernstein and McDougall, sailing today for Havana on the Yucatan ol the Ne York Cuba Mail Steamship Company, John L. Uby and Mrs A Ruby Pelletler of Richmond Hiil nre nlso sailing on the Yucatan. i m.lls mum'.

I ga- e-famllv dwellings a about the merits of "haggis' Christmas dl i. i Washington. Dec fl The position ide of 4th 120 fit the ireasury on uer. i rccceipis, Ml Bte.OOB.41 rxpriii lire; ATLANTIDA (8t It seems it Is an annual custom to "pipe In" the haggis on the Cunnrd White Star boats bound for Scotland. This meant, very little iiue by Louis Kahn as owner lease is for a long The plans hnve been tiled bv I percentage nl the Kalhch, architect, and the cost ui to I grOSS sales with a ibellS.OOO, nnfeed minimum months of last year Th inures si 21 I 191 113 irs tOI 10 months 1115 Igainsl 4.026 R9R4M PlfUrl for in montlis of 1934 po.1 249 80; balance.

$1,420.050 137 53. Customs receipts for the month 32- Hondurn on in us until the office.