Evening Star Newspaper, May 11, 1929, Page 25

e o e j Xe- . PINANCIAL.' HIGH-GRADE BOND ISSUES ARE QUIET Convertibles Show Higher Trend — Industrial List Prices Are Mixed. BY CHARLES F. SPEARE. Special Dispatch to The Star. NEW YORK, May 11.—Moderate changes occurred in the bond mlrk!tr today, with trading showing the usual contraction at the end of the week. The convertibles were mainly higher, though they did not move with the a dom of recent days. ‘The issues that represented the m.'cr portion of the wransactions, were Y 1y, m~ cluding International Telephone 4 Ya Alleghany ration 5s, American n:- ternational Slos and Atel American “"?mm & Telegraph 4!38. The market for mxh-mde issues was dull, Union Pas ‘were up_al half and Canadian l’le\fle 4s off hall. The supply and demand are both so small that price changes either way are out of proportion to the actual con- dition of the market. U. S. Liberty fourth 4%s made a slight gain. There were several changes i miscellaneous industrials that l"Xl&M attention. International Paper 6s and Walworth 61> were both strong. Ameri- can Natural Gas 6l4s dropped 3 points 'and were within a of the year, which was 7512, com| with the high of 97. Seaboard Air Line adjustments held their previous day's rally of about 4 points. Erie re- funding 5s were again below 94. French issues as well as !el'hnl and Argentine 6s .were features in a quiet foreign list. NEW YORK, May 11 (#).—Stocks frregular; utilities at record levels. Bonds irregular; French Republic 7s heavily traded. Curb frregular; elecmu investors rises ts to record high. 'oreign exchan, guilder at new 1029 high. Cotton higher; fimer spot situation. Sugar and coffee, holiday. . Municipal Bond Issue. BALTIMORE, May 11 ( 1) — Bids have been asked by the ‘en water works and public improvement |0 bonds bearing 4}z per cent interest, wfim Mc‘oyum -m m-rket an issue e y of $1,000,000 school also bearing | | 'lfi E' cent lnur-t ':h‘ illy 23, Bids Washinuton Stock Exchange City & !Ilbulhn Bl—‘l 000 at 0184, Pomm-c Electric cons. 55—8$1,000 at wl'l. 10 at !'!%. 30 lt “* Chevy Chase Dairy pfd.—5 105, Lanston Monotype—10 lt 132, 10 at lflg 10 at 132. AFTER CALL. Cai n the UNITED (Bales are US4s 1944, USeyuess. 7N Jun. Canada Cunada Chll. Colomb! Con Pow Japan 7 Cazecho Csecho Denmark ¢ French French 734s. German EI P 6%s, German 7 German B: Ger Gen Eles :ulun Pub8 7 Er-nnu'l‘oll fset Suu (PW) 8. Seine 78 42 Shiny t. Mtge. & Guar. pid.—20 at 7%. | Soisson: Sweden Sweden M\Imbh Sapd & Gravel pfd—10 at le muennuler Linotype—10 lt 107%5. D. C. Paper Co. 6s—$1,000 at 94. Frunin r-harad "n"—a.m at: 1044, - Bid and Asked Prices. % BONDS. T pia. Asked. £ 5‘23 u Beve et Britea states Savinds ‘Washington Mechanies. FIRE INSURANCE. American ... Coreoran remen’s Nationel Unioi TITLE INSURANCE. i’l‘ B ’l(’.‘"{ld' Ve Washinston nv. Co. of Md. eon: aen. Coma. “Ficla Wi WOUI- Sand Storags ', & Str. pld T Lino! & ta o Fer Mlee 4 Guar. pid fllY Elnl’l(fl 2 Ret, W wm-.‘f&‘i“d‘é‘,’op Rt Unlisted Department. ‘BONDS, Army an m‘yx Club s &he & Grepin ga Cannecticut Pie’ Co. Chr. Heurich Br'y.. ieigh Hotel Co skinsten Hv‘. o Japk.. Bull ew: n Bav. 5 Yokohama 6s. Alleghany ev i HumbleO& R 6%s. (1linois Bell 18t b llinois Steel ¢ % Inland Stl 4% ‘78, [ntl Cement 68 48 Intl Match bs 47. Int Paper 6s 7 Inter Paper 6 Int Tel&Tel G‘Llcv Kan City P & L bi LouisvG & E bs 62, ManatiSug st 7%s. Mont Power deb bs. Mor's&Co 15t 4148 No Am Ed 5348 '63. Nor States Pow 63. Pacific Gas & E| s Phila Cq 68 67 Phila & Read 6x ) Philips Petio b%s, Prei rubhc auvu-e s Punta Alegre 7s... RemingtonAr 6s i2 Sinclair 1l 78 Sin Pipe Line bs. .. Skelly Ol I\t Southwest Bell 6a. . Stand OII N J 88 46, Saies. High. Low. FOREIGN. Bales. High. Low. Close. 186 10° 16 .13 99% 99y .| Rom Rnd 63 s war. Sinelatr O1l 6 THE EVENING STAR, WASHINGTON. [ v o BONDS o ] | Received y Private Wire Direct to The Ster Office I:Tl:;':).‘ Stand ONIN Y 4 %s. Tenn Cop 6s B " Tennkiecow 9722 22 7 10427 10427 0328 108 20 108 20 Walworth White Eag | Willys-Ov % 394 | Youngstns & T 3 99l 99 | Atenison gen ¢s Atch deb ¢4 | Atlantie C L 18t ¢3. 2 102% 2 95% 95% 9% 1 9:u 984 98k 13 100% 100 100 10 1043% 104% 104% 2 1074 107% 107% 14 1068 105% 105% 1116 114 114 5‘ W!‘A 108% HWn 5 99T 99N 9 924 28 92% 924 92% 3 96% 96h 96y 5 108 106 106 1 99% 994 99% 2 99% 9% 99% 8 1034 103% 103% 102% Brook!vn Elev 6348 Rkiyn Mannat 6s... Bkiyn Un EI 5s°60. Bkiyn Un El 5s sta. Can Nat 418 84 | Canada Nati4 Canada South Canag North 7 Canad Pac deb 2 93'4 98‘ 1 874 8Tk 87k 96 95 96 2 100% 100% 100% 3110 110 110 3 110% 110 110 3 8SW 884 83U 1 9% 99% 99% 3 103% 103w 103% 1 101% 101% 101% 1102 102 102 2 1024 102 Chi NW 4348 203 Chi Rys 68 ChiR1&Prf Chi RT& Pac ¢ %8 ChiStPM&O 63 ‘3v.. Chi Union Sta 6448, 14 104% 104% 104% ' 107% 107% 12 112 3 92 92 92 19 108% 1084 1064 2 8Th 8T 874 11 1024 102 102 1 100% 1007 100% 43 96% 96's 964 17 92w 92 924 2 vl 9% 9y 19 100% 100 98w 98 ConnRy&Lé%s sta. Cuba Nor digscis.. Del & Hud 7s 30 Den & Rio G en D Rio G West Det United ¢ Erle 18t co Erieconv 43 B Erie Gen Erjecv 68’8 rie conv ext 7 Int&GiNor uaj ':: Int Ry CA 6}aret. Kansas City S s l lOlk th mm l. 'Gh Dl\‘ 9(1‘ 101 z 105% 10511 ms-/. 9015 90% I 104k mcu 104 u 964 96k 964 9 105' 108l lofl l uu Il \ ‘l «IW 1m 108% l 102% 1028 102% 1 102% 102 1024 logn 108% um. - N Y . 80 0 Nl'.mt!u. SHSA. . % 9iW 94 h!CB'h!lL ihns. “MISCELLANEOUS, 12 1034 Ifls 83 1084 106 1 81 81 . Pere Mar 1st 43 b6 2% Portiand EI P L 103y | POrt B L&PBsdz, 99y | POFtRL P68 ¢T..., 101" | Reading gen 4%ha & RioG W 1at 4s. 104 | RI0 G West e 108% » DABNE S oa - 4 90% 904 1 7% 1% 1 103 103% 12 90% 99% 4 101% 101 RIATk& L 4%s 4 101% 101's 101% | StL IM&S gn 6831 h 7 A (L 2 66% 24 104% 104% 1 102% 1023 ik [ 108% Sou Pac 4s 1ozu Sou Facific ref 100% | Sou Pac 4%s wi Sou Pac 4igs rel Sou Ry gen 4 Sou Ry 6% Term Asso S L 4 Tex & Pac 6s C'79. Thira Ave ref 43 6. Third Ave adj b Union Pac 1st 10 1024 102% 1 98% 984 9 103% 103% 5 91y 91% 5 106 106 13 97% 974 1 100' 1004 2 91k 9L 2 924 924 97 129% 128 4103 102% NEW YORK, May Lenden, pound Paris, fraue . | Brussels. beis: 1 100% 100% 9 100 93 21 87 86% 964 T2 2 1034 103% 5113 113 3 98% 98% i 36 10813 106% | Stocknoim, erown . o SHORT-TERM 100 | 1004 4 1007% 100% 11 100% 100% 2 101% 101 2 101 101% 4 103y 108% Aliis-Chalmers Aluminum Co- of A Tel. & Tel. co ornia Pet. Corp. 8 Nat. Rw 17 100% 100% 3 80's 90 23 101 100 1L 934 93 1 93% 93 20 204 20315 204 1 80 80 0% 99% jen. Mot Accep. Corp. neral Pet. Corn s 1 7, R. 5 }llnxdlrd cm“nr N b o A TR A 108 108 101% 102 l‘ lflJ L] 102. Sales. High. o D rmre e o e OR AT R OR D00 1B G e Db 19— C i 0110 On O I T O ) O 1 55 00 = i 5 00 08 5180 A L2 i 1= 13 O O o 00 e h e 1E | 4% Mexican dollars, 41. n-r (Reported by § & W. Seligman & BO 5 l.l‘ m rel m'c.a. da u £ ift Co n‘lun otl Cr‘ o( Cnlx! R eel Corp. 528 1048, 6 6% 984 96 103 1054 1024 IAILIOAD. T TP TR T = SILVER QUOTATIONS. 11 (#).—Bar silver, FOREIGN EXCHANGE. (Quotations !urm&l-xa-gmb.sl mm. o bbs ing e 2 Co.) ecks 9. SECURITIES. Co) Ofter 1982 14 4s 1939 193 e ] ino Boston 41os 1930 85 1937 940, s e Ry 4 1032 Baks K i 51935 Low, Close | % improved during the last few menthl of Ward !lklnl 4 | company is earning t - ey d’: y is earning the prefemd divi: 8% | vided ““ni BY KENNETH S. VAN STRUM. NEW YORK, May 11.—The leading baking companies have registered such | totally different fortunes for the past year, some having declined sharply | while others rose as sharply, that each | company must be studied individually {to discover the reasons for its par- ticular trend. Continental Advertises Nationally. | Tne promoters of the Continental | Baking Corporation visualized a holding | company which would control baking | companies in every important, section of the country. The first year of opera- tion the general economies they were |able to effect by large scale produc- tion brought very satisfactory results. Shortly . afterward, however, profits began to decline severely. The loss was attributed to competition, ~particularly from large chain store systems which operated thexr own bakeries. A new management in Continental {then established national trade names |to supplant the many brands used by their local plants. “Wonder” bread and “Hostess” cake are now advertised na- tionally, and are even sold through the large chain stores in competition with the chain stores’ own brands. Con- tinental laboratories continue to im- prove their bread formulas. Earnings had declined steadily from the company's organization until quite recently. In the first quarter of this year they showed & 30 per cent increase above last ynr. At the current rate the com) is earning its 8 per cent preferr dvldund lt the rate of 88 on the A stock, which is entitled w this amount before the remainder, if thore h any, is shared equally with the Onl ot Continental’s test difficul- its heavy capitalization. The 1uue of 8 per cent cumulative hr?g i lerred requires over $4,000,000 annu- ully. while the class A is entitled to $8, or almost $2,500,000 more before th common receives anything. Thus in 1928 98 cents was earned on the 2.000,000 shares of common, 6 cents in 1926 and nothing the last two years. If the up- ward d of earnings continues, a small amount might be earned this year, but a revision in the capital set- %u anticipated before the common receive ‘dividends, Ward Passes Dividend. While Continental's earnings have the earnin| Corpora tion have declined Y Ward has substantially the same heavy capital set up as Continental ex- cept that its preferred bears a 7 per cent cumulative rate. After the hm issue of preferred comes class A com. mon entitled to $8 non-cumulative ulvl- dends. Any additional elmtnu are di- vided between A and B first four ynrs lellnwlng its (ormmon, in 1023, the company was able to earn over $10 a share on the class A stock and better than $2 on the class B. But althous h uleu were in- creasing steadily. sf petition kept profits at a standstill. In ma earnin, dropped to $8.71 on the A and 71 cen on B stock. For the first quarter of this year the company earn onl! llonthtAlndnom g on the B. pnnd While Ward 13 in tood financial po- lmon future earnings are difficult to lict because of the eoupnmvt con- itions within the industry. “Ward prod- uets lack the wide national distribution of eon'.lmnul. for its bakeries m eon- u\;‘ New Y:rl m:nll:' "'J,‘} Atl antic Coast from “&.. o--mllmulm s |A dividend "fl ts older territory. It ov'lf inmm to make its “Bond Bread" nal Juet. 2,980 t preferred ahead ef the 8.0"’!’. res of common. Although the comfortably, the remainder is di- such a large amount of AL I 031 hey were' 40 e ey § ey were in ma 48 cents. 4 Rl is officially stated that the trend cl nrn for the last half of 1928 and the first quarter of this year ha last year ht inf ! yur are brougl roduction. on dividends are not ?flnly very soon, ho"'l? WHEAT IRREGULAR. CHICAGO, May ll (Special).—Wheat h;y'l mmflm he greater part of but bulges faded in laap hail hour'when e ] e profif 5 July, BRIt LTI & % December, Corn closed % to % lower, and lor the week, 4 lower. M July, 87% S?umbcr asl,uam. O mb"! ,:i hi d ats closed unchange 1 3 and for the week, m-‘z' 13w:§ %:n‘; 453 July, 43%; September, 4215; De- *Bravisons lecte: ns were neglected and e: Lard closed 213 lowg ribs 5 loweruuvo 10 higher. TREASURY CERTIFICATES. Reported uy -;;-—uuu?;m J. & W. Sellgman & ao !AL'I'TMDII !TOC!I. By Special Leased Wire to The Star. BALTNOR! Mlv 1o.— com m-l euan Dl xconmn«- ed G 5% cum pfd | 308 Deuan JTire & Rubber com 40 Fing cor ary Carualty Co. 107 Marviand Morixage Go com 50 Merehants & Miners' Trans i :aw Amsterdam n 1000 Black & Decker Mt £000 W, SATrMLre Go e 181 B & A Raflway 1st 8s.. K New York Stock and | Bond Averages. SATURDAY, MAY 11, 19%9. STOCKS. L§77:700 aharer Asirials red A: low, 2018, enty rai oads Averag not reving 3 High, 1929, 111.2; low, 128.6. BONDS, "Tul bpnd sales (var value), 1 grade rails averaged 92. aged 95.57; BUl¢ utilitles averaged 94.28; 18281 e, 93.33; W menth ey, net loss, | I Washington Ticker ' KIng | interest . of future bread e .mm tried | Special Dispateh to The Star. vl Y D. C, SATYRDAY, By the Associated Press. Possible methods of the call money market are now being studied by Senator Edge, New Je: 3 member of the Senate banking and cur- nnc{‘ committee, At least one factor e situation might be deait with bv legislation, in his opinion as so far rmed. "AK far as I can see, the high call money rates and the indirect effects of it are really the only points that may | need attention,” Senator Edge declared. “I haven'c been able to find that, cause of the high collateral loan rates, commercial borrowers in any region | have been unable to obtain the regular | cash advances from banks which they ave normally been entitled to receive at ordinary rates. “Nevertheless, with the run of 10, 12 and 14 per cent interest rates on the ‘Wall Street market, there has been a powerful attraction tending build up a credit stock of immense size, earn- ing a very large return, and dlrecud exclusively to stock market loans. don’t think this sort of lending lhflulfl be forbidden, but to prevent the crea- tion of an extra bank credit system in | the country it rnl!. t be discouraged. “Now, one of the ways in which the situation might be met and these high ! rates perhaps curbed would be to enact an amendment to the Federal income tax law by which the income of indi- | viduals or corporations could be prefer- | entlllly u\lb]ecud to an increased tax to the degree to which they had been | earned by abnormal interest rates. That would perhaps take the attraction out | of the call loan market for lenders, 1| have gone far enough into the subject to discuss fl with Secretary Mellon and am trying et all the information I can on the l\.l jec! American manufacturers of airplanes and operators of air transpo are lfolle'inl with considerable interest the attempt to get an international conven- tion governing air transport, which will be the subject of a Paris conference next month, to which all nations have been invited to send delegates. *'our prlnciral interest lies in the standards of airworthiness and the reg- ulations for air use which may be agreed glo said William P. MacCracken, jr., who will head the American delegation to the gathering. “The present inter- national convention, to which the United States never adhered, set up a commission to prescribe trafic and air-| worthiness regulations. In 1923 we ef- fected & Pan-American Convention, in which these matters were left largely to settlement of each nation concerned. “Germany, which as a nation failed like the United States to adhere to the original international agreement, was hrleli0 instrumental in getting the Paris konference summoned. It is to be expected that issue of international ver- sus national control of air commerce will be thoroughly debated at the com- ing sessions.” n.:r disappointment is expressed in official circles over the collapse of wheat prices which has followed the inaugu- ration of voluntuy export rate cutting by railroads on wheat and flour at the [l ition of the administraiion. Never- theless, it is not expected that the price drop will serve to prevent the carriers from mm.ln‘l the temporarily reduced schedules. which lower the cost of mov- ing wheat to the seaboard the v‘v'ut by about 9 cents per bushel, into effect. “The step represents the possible op- B?nunlty of letting American to the world market on a even terms with the Canadian growers who transport em" sald Senator 0- pcr. Republican, Kansas, “I do n that the lnltl‘flon of th l‘l(‘l wu the cause of the price fall." Letters from the Western 'hnz bolt rhlcl; ha . eom':m:'!‘n Kansas Sei m tor since the rate-cul program initiated ‘hn indica aoundun&l: In m wheat ~creage lnu [ llmmnl the atze 000,000, approac! turn on the $400,f hmus, Bome almost uhmm reign trade increases are being ibited by the growth of world tastes for still novll lnd tyylc-lly American electrical uets. Electric refrigerators shi pp'd abroad during March were valued at $1,417,820, or just three times as much as exports of like articles in the same month last year. Radio sets in the same month were worth §1,48 000. or almost double the value of ports for the same period a year ago. Insulated copper wire and cable s! ments, which go to installation lnd servicing of electrical equipment, also lne;e;ud about 40 .per cent for the period, to! l Te. 000 cost of cutting Baltimore Markets BALTIMORE, Md.. May 9.—Potatoes, white, 100 pounds, 1.00a1.80; new pota- toes, barrel, 4.00a7.50; sweet potatoes, bnru!. 2.0003.75; yams, rm 32.00a rAgus, donn. 1,2523.758; m 6.00a7.00 23.50; cuhbl%fl hlmper. T5al. 35. cl!- rots, crate, 2.50a3.25; celery, crate, 2.50 23.75; caulifiower, crate, 1.7582.00; cu~ cumbers, bushel 2523.00; eggplants, crate, 2.5004.50; lle. bushel, 30a60; let~ | tuce, bushel, 125a1.78; lima beavs, | bushel, 4.00a4.50; onlom. crate, 1.40a 1.78; sprlng onlenl, .m.oo | hnnper, 200:; 80; 5.00; radishes, 100. crlw. 1.25a2.00; spina atoes, _crate, bushel 1.25a2.78; l!l 23.75; oranges, box, wl tnm. box, 3.35 .0084.00; straw- checking ime of high interest rates in. the | o) 2% Intl 2 berries, quart, 10a30. Dairy Markets. o Poultry, alive—8; chl:llen-. und, | 35a45; Leghorns, fdn thin, 25a28; 14 hens, 52; ol rooster: SR ir, 3584 pnu Recelipts, 403 cases; native and | nearby firsts, dozen, 20%; current n- \ ceipts, dozen, 20222, Butter—Good to fancy creamery, ; \pcund. 45a48; prints, 49a51; blocks, 48a 38; Iadles, stors packed, 31: rolls, dairy prints, 33a34; process but- 42043. Hay and Grain Prices. | Whut’—Ne. 3 red Winter, | epot, 1.071;; May delivery, | Com~—Na 2 export, May dellvery, no quotations; No. 2 yellow, domestie, spot. | ! 1.02a1.03; cob corn, 5.50a5.75. 2 white, apn" No, 3 white, spot RvewNanrby. 1.00a1.10. 1 Hay—Receipis. none. While hay i arriving here in limited quantities only. it is more than enough for the demand, which is being sufl'lhed moa!ly by Lxuc‘ from nearb, a few carl ing received, 'n:-u is not enough bus ness pulln( to establish prices on the various kinds on merit at & of u oouc .00 per ton of timothy or clover strlwao 1 wheat, 1200-1:56 per | ton; No. 1 oat, 12.50213.0 COTTON CLOSES HIGHER. NEW YORK, May 11 (8pecial).— | Realizing caused some irvegularity in cotton prices today, but the tone was generally steady and the market closed at a net advance of 6 to 12 ints. Spots advanced 10 points to 19.65. nu 308 | ducks, 20835 each, 50a1.10; pigeon: ter, domestie, domestic, MAY 11, ‘NEW YORK CURB MARKET Received by Private Wire Direct to The Star Office “gfl’t&é' Gen 3 Shoreky 1 Siliea o Bt outhe ) 3i s 19%.” aviiil 304 td 100 nc. ‘H PO JOON OO -4 aa: Aviaiion. TR s Mig Ltd Go (AOY st P 25 ' Brit & Con m Citles P & L S anSauanie 33223338531 3 T i Cogm o Amer Super 1 pfd link Seeur n]lu ai lfl Anllo Chil Nitra s e | ARESirus Radio T Ark Nat GCa "SE.“H.S:‘:= ::2::‘:3?.222 e A e 0881303 303 e D3 xport. A Ty LAt S ssttarean st ) £ sid & 0B coasearsammnse DI acons S5955585958 & .,........-« EEEEEEE TR 3 . ’O Al g L2222, BEA8N, N2 8R28858S, 5 e 43 19030 0300 ca k3 B S0 S o iaaacagaaa B oS- 990 o = g‘gssgss SoeEAR F O o e -mm lllflo fi hundreds. Con Y 458 g Cons cev suon SEESE g'-' feon, Eua !;?:. 8 §§ j susumszule,san, e > ,. & & o oS i B B a3 mas s nata s Do D 90! 1 Se YR BT ] o3 3 TEEES CaeSew SEEE EISS FEESS & FIEE FEE & G 2253 u.. & - . = TEESSE S T SERETEETT e B T Z: 'lu.li‘.‘nuflfl JSID] lA%um Contl Ol o i’ & 00 Imp © Cann"y 2al8E2e oudatite % Houdaille Her: 1Ineur Co N A 2 Insur Secur. 10 Injur Shaver & (32 Sales in theusands. 0! 2 Abitibt PP 55 A 3818 Fow 414 67 = e o Rooman-Su-cid, o ] £ 3222200 o a5 32 5 o FIE oggacges ety & & 233385 ] 1555';"7&" 1; Lonw 3 233222 a $33 3R g€ a 2 SELEES LT 73S SRR RB23 2% o emohis Natl G Merritt_Chap & Metro chain stess 1 Es inne Steel Mac lssourt Kans Pipe e g 73 23822228 £ 2 e e OI5804I N Gt et A Q! i & ¥ 328 532.28%; - F oot smmi- £3 £ Pow o8, 0. i S5t oif Pen [ & wo s, SR a2 o - .. m::‘é:r:s: 22333 ennnSeetsiirienites 3:2:8;:3:5':83 sass SIEaRRRnAREE ] 22222 e 233 ToLTEE Prossuesiss Seades i 32332555 SSENT i3m0 285 3 3 Sgs¥ogs.c.usensievoes, susrapuntsges: 3 .‘; seygRusisEsas.ysnagsy 0930 e S M AI B D Oh 13 3 A R =1 TS0 e e o B DS s F5Gaa &8 s ok cTex Ut 8 A | Cent'5s B0 a5, TOREION BONDS. i 1! N2 Ed 2s | securities today. PINANCIATL, ADVANCE IN CURB PRICES CONTINUES Market Makes Further Re- sponse to Sudden Drop in Meney Rate. BY HARRY H. BECKER. Special Dispatch to The Btar. NEW YORK, May 11.—Utilities con- tinued to be the feature of sn active and somewhat higher market for curb Although there was considerab! profit taking, offerings were no heavier than might have been expected, following the late advance. ‘The utfiity group furnished the out- standing leader, with the American Sumwnflnma muurmt demand on merger developments. The openin sale u:muu nn‘:p stock for u,oos shares and 20,000 share | were in the rights at the outset, both n |d- vancing prices, while the A and B rose sharply to the best levels yet. Empire Power, which stands to bene- fit from holdings of 1,180,000 shares of Rochester Central Power, made another peak and Electric Investors also con- tinued in strong demand. The low-priced division was featured by pronounced strength in Memphis ?lnmrlln?;swpwmch nggro;c]had gs ormer on reports of large in- dustrial contracts. buying also was witnessed in numervul other spe~ clalties, of which Foundation Foreign, Sentry Safety Control, Bendix, Ains- worth and Raybestos made ins. ..!n the aviation group Fokker was heavily sold down more than 4 int-l before it steadied on rull.ll.n{h. was a report in eirculation it pre- liminary negotiations are under way whereby General Motors subsi will obtain ~ control. Irving Alr ute, Thompson Products and one or two air- plane accessory shares continued to move upward. Hazeltine was the most active issuq ey un ect . ng to subscribe to sdditional stock in ratio of one for five at 87 & m ———— CHICAGO STOCK MARKET. Special Leased Wire to The Star. HICAGO, May 11.—Following is & report of today's sales, high, low and closing quotations, on the Chicago Stock Exchange: Salen in 7 | hundreds. ) 8 e e PesE e Sae SEEE,, o 2550e w5, 582 SEsgeses sied SEESET §§ F Se! £ 2 r;:r.‘:ssg b1z BE23DEBRLLS! o £ ¥ = oot EFLIGSET Gk Fod GFE\F SSEL, Abbott o 10014 3 A '?. ‘n» fg Go. 401 Mn‘.’t‘,.x Ulehee: i Al Amer e 108 Mot > 3 o S et 533 23 GanSuSZedi, “ ‘wnw Bt & . G s w Sl S & FESE & dwe av as o FSES S & F Siew & s v evbek £ F & - Bt s s cacnennall 2 - 285 8BETBRY: 5 e B0, B it a0 gt - & rick. _ Il?l;.h'l . i . SEsk & rson Elee . 2300 Bteve Switeh S s & 0 astenans. g e = LT sasEisymanyesnsesdanan oy e L £ F ST B 02ess. g angSaenss: ganuiusens = = &L & = 23R8 s DS85E! RS T ¥ FE FEE SSL o auBunoe revrven 285U 2 =3 sasSspesyes PP Tt