Evening Star Newspaper, May 20, 1929, Page 11

FINANCIAL, THE_ EVENING STAR, WASHINGTON, D. C. MONDAY. MAY 20, 1929. <FINKNCIRE., et - 49 D * PRICES ARE MIXED ONCURB EXCHANGE Fears of Raise in Rediscount! Rate Overshadow the Market. BY HARRY H. BECKER. Epecial Dispatch to The Star. ! NEW YORK, May 20.—With a few | exceptions, price movements on the | Curb Exchanga today were indecisive. | Trading sentiment was highly confused owing to discount rate fears, which for | the present at least scemed to over- | shadow the ease in call money and | favorable trade developments. The opening was mixed, but pressure quickly appeared in many issues. Mean- | while certain industrials advanced. some to new highs, under a continua- tion of pool support or buying stimu- lated by pending important announce- | ments. Utilities Heavy. Among the stocks that stood out | in’ new record price ground were Memphis Natural Ges, the Aluminum chares, Bendix Aviation and the old company stock, Western Air Express, Hazeltine and Sparks Withington new. Buoyancy, which characterized the utility and aviation sections at different times last week, was entirely missing from their movements today. Most of the power and light issues were heavy but there was no particular selling pres. sure witnessed, while realizing was ab- sorbed 1n good fashion. Electric Bond & Share, Electric Investors, American Foreign & Power warrants and Amer- ican Light & Traction gave way re- luctantly. American Gas & Eleetric had an abrupt decline of 8 points. Although the Bendix issues and West- ern Air Express furnished inspiring | Jeadership, aviation stocks presented a ragged edge. Niles Bement Pond came down several points and most of the others showed smaller losses. Fokker encountered fresh realizing after the big jump following the General Motors investment in the company and experi- enced another setback. Explanation for the activity end strength in Sparks-Witherton new was found in the announcement that Radio Corporation had purchased several of the company’s patents, which brought to end several years' litigation. Other specialties which were in demand in- cluded Grigsby Grunow, up almost 20 points, following its 15-point gain last ‘week; St. Regis Paper, which was in- fluenced by a good 1929 earnings state- ment; the Marconi issues and Tubize Silk. Oils Are Steady. Oils were generally steady, with Gulf of Pennsylvania moving over a wide range and reacting after a strong open- ing. Motor stocks were lower, and the tire issues gave ground in sympathy. In other sections De Forest broke into new Jow ground, while unevenness marked the investment trust stocks, the metals and some of the favorite high-priced specialties. Great Atlantic & Pacific Tea. after initial strength, broke almost 20 points from the high. Baltimore Markets Epecial Dispatch to The Star. BALTIMORE, Md, May 20.—White potatoes, 100 pounds, 1.00a1.5 new Ppotatoes, barrel, 2.25a6.00; yams, bushel, 1.50a1.75; sweet potatoes, bushel, 1.25a 2.00; asparagus, dozen. 1.00a3.25: beets 100, 1.50a1.75; belns.ebsushel. 1(.75!2.0{0; cabbage, hamper, 50a65; carrots, crate, 225!?00 celery, crate, 1.50a3.50: cu- cumbers, bushel, 1.25a3.00: eggpiants, crate, 2.00a3.00; kale, bushel, 30a5 lima beans, bushel, 3.50a4.50; lettuce, bushel, 75a1.25; onions, crate, 1.40a 1.75; Spring onions, 100, 1.25a1.50; peas, hamper, 2.0023.00; peppers, crate, 1.50a 3.00; radishes, 100, 1.50a3.00; spinach, bushel, 30a75; tomatoes, crate, 1.00a 4.50; apples, bushel, 1.2502.75; grape- fruit, box, 2.25a3.75; oranges. box, 2.00a 4.00; strawberries, quart, 7al4; wate: melons, 40a65. Dairy Market. Live poultry—S8pring chickens, pound, 35a47; Leghorns, 30a40; thin and poor, 25a28; old hens, 35a36; Leghorns, 30a 32; old roosters, 18a20; ducks, ZOlZS,I guinea fowl, each, 50a1.10; pigeons, pair, 35240. Eggs—Receipts, 1,403 cases; and nearby firsts, free cases 291,a291%; current receipts, 20. Butter—Good to fancy creamery, pound, 42a45: prints, 46a47; blocks, 45a | 46; ladles, 35a38: rolls, 33a35; store packed, 30: dairy prints, 33a24; process | butter, 38a39. Hay and Grain Prices. Wheat—No. 2 red, Winter, garlicky, spot, 1.087g; May delivery, 1.087%. | Corn—No. 2 export, May delivery, no | quotations; No. 2 yellow, domestic, spot, | 1.0221.03; cob corn, 5.25a5.50. Oats—No. 2 white, domestic, spot, | 53, nominal; No. 3 white, domestic, spot, 56, nominal. i Rye—Nearby, 1.00a1.10. —Recelpts, 12 tons. While hay is arriving here in limited quantities only, it is more than enough for the demand. which is being supplied mostly by truck from nearby points, & few carloads be- ing received. There is not enough bus| ness passing to establish prices on the various kinds on merit at a range of 14.00a16.50 per ton for timothy or clover | hay. Sfraw—No. 1 wheat, 12.00a12.50 per | ten; No. 1 oat, 12.50a13.00. i Live Stock Market. i Cattle—Receipts, 250 head; light supply, market dull; prices 'steady. Steers, choice, 13.00 to 13.50; good,| 12.00 to 12.55; medium, 11.00 to 11.75; common, 9.00 to 10.25. 'Heifers, choice, 11.50 to 12.50; good. 10.25 to 11.00; medium, 900 to 10.00; common, 7.75 to 8.75. Bulls, good to choice, 10.00 to 11.00; fair to good, 9.00 to 9.75; com- mon 'to medium, 7.00 to 8.50. Cows, good to_ choice, 9.25 to 10.00; fair to g00d, 7.50 to 9.00; common to medium, 5.00 'to 7.00. Sheep and lambs—Receipts, 1,100 head; light supply, market lower. Sheep, 250 'to 17.00; Spring lambs, 14.00 10 18.25 Hogs—Receipts, 700 head: light sup- py, market higher. Lights, 11.7 heavies, 11.50 to 11.65; medium, 11.85; roughs, 7.25 to 10.20; light pigs, 10.25 pigs, 11.00; Westrn hogs, 10 to 15 higher than quotations Calves—Receipts. 750 head: light sup- ply, market lower. Calves, 5.00 to 15.00: | no extras. CHICAéb DAIRY MARKET. CHICAGO, May 20 (#).—Butter— Higher; receipts, 14.848 tubs: creamery, extras, 42; standard. 42; extra firsts, 41a41'5; firsts, 40a407;; seconds, 38'5a 3915, Eggs—Higher: receipts. ‘43342 cases; extra firsts. 31a317:; firsts, 30728 307 : ordinary firsis 281:829':; stor- age packed firsts, 32; storage packed native dozen, Poult; A : receipts, two fowls, 31a34: broilers, 44; roost- ers, 21; turkeys, 22a30; ducks, 24a2 Spring ducks, 31; geese, 17. Kennecott Raises Dividend. NEW YORK, May 20 (P).—Directors of the Kennecott Copper Corporation declared a quarterly dividend of $1.25 on the common stock today, placing it on a $5 annual dividend basis, against £4 previously. The dividend Is payable July 1 to stock of record May 31. Safety Device Contract. NEW YORK, May 20 (#).—Harris NEW,YORK CURB MARKET By Special Leased Wire to The Star. NEW YORK, May 20—Following is a list of stocks and bonds traded in on the New York Curb Market today with the volume of sales and prices up to and SNat Aviation ....... 76 3 Nat Contain Cor N wi 27'a 10 Nat Contain pfd ... 20l 28 Natl Fam Stra xd | 41%; 1Nasi Fam Strs pfd xd 40 1Net Food Prod A.. 32 1Nat Leather 3 Received by Private Wire Direct te Thy Star Office including the close of the market: Sales in hundreds. 32 Acoustic 6 Aero Bup Mf B 1Afga_An: 8 Ainswort. 113 Alabama T 6 Alum. INDUSTRIALS. High, Low Prod T % 4% 38° 36 h_ Mig .ol 823 81% Gt _So pid_: 185 Industries 183 Cloge. 5c0 ndus...... Lid 58 Am & For Pow war. 4 Amer Beverage 3 Amer B 23, Amer C r Bov ;1 EIF 194 igar 138 81 Amer Cities P&L A 51 203 Amer_ Citles P&L B 33 Am Com 3570 monw P A . 5% 8 Am Commonw P B 11 Am Com! 32 Am Cysnamid B n 36 Am Cya 24 Amer iaDT 22 Amer Gas & EI 17; Amer Lt & Trac 4 Amer Lt Dept i; Am Dept S I pfd A N J con pfd W P opt war 713 8% [ 1624 9334 11 1189 41 1212 namid rts. Stores & Tr pfd Amer Nfg 7 Amer Milling 1 Amer 1Amer § 1Am Sia 8ol & Chem . & C pla Pub’ Ser 41 Amer Superp A 1'Amer_Su uperp B.. . 38 Am_Superp n Amer 8uj Amer Suj 2 Amer_Suj 5Am Sup per pfd. | per rts per 1 pfd 1 pfd rts wi 1 Amsterdam Trad 1 Anchor_Post_Fenc 16 Anglo Chil_ Nitra 1 Angus Co 5 Arcturus 22 Atk Natl Del v Radio T 43 Atk Natl 1 Ark Nati G: 2 Arrow Hart 1Asco Dye & Print Elec Ind 2 Asso Gas & Elec A Gas & & El 1 Asso 1 Asso 14st0 G 2Asi0 Ra 200 1a5y 567 5610 i El S7D deb ris yon § Asso_Rayon pfd xd i Aviation 280 Aviation 4 Aaton P 1 Babcock 1 Isellanca Co ‘of Am Corp isher A ! & Wiicox Aire_vic 1 15 Bendix Coip n 410 Bendix_Avia 16 Bein Steel ri 1 Blaw 5 Bliss & 1Blum 8. Bnox n ox 2 Bohack H C Co.. 1 Botany 4 Bricgp Macn 8 Briges & 3 Brignt 2 Bric-Am 32 Brii-Cela) 2 Bry 2 Bklyn Q) 1 Buda_ M| 78 Buf Niag e Go Stration . ! El B Tob Cp B. nese Lid.... 3 RR... 15 . AEP 30 Buf Niag & E P 2B8uf N & E P ptd 25 Burro Adg Mca n wi b8! 1 Bulova Waich. . 29 40 Burma_Corp .0 111l "4 34 Caole Radio Tube vic 17 30 Can Marconi W...... & 3 Capital Adm Al 11l 3 Capital Adm A ‘pid . 1 Carnation Milk...... 4 Celan C 1 Cont Atl 13 Ceat Cenu 3 Cent i Cent 3 Cent b Cent Sta sta 4 Cent Sta R Bl 'sorvie 1410 & Sou U pid Eip Cor.. Pub 8 A tes Ei. Staies El El conv p. El pfd ww. 3 Chain store Stock... 1 Charis Gorp. : 4 Check Cab Mig 2 Chos Corp Its 3Cit S P&L 6s pid 2 City Maca & Tool 1 Coigate 3 1 Colt Pat Palmolive P. Fite.. . ’ Columbia ~ Piciue 2 Golumbu: El Pow 1 Commonw P pfd. 25 Cons Aircrafu 5 4 Cons Auto Mer vic. Col Auto Mer pfd. . 1 2 Consol Dairy P 8 Consol Film . 1 Consol_Laund 5 Cont_Diamond 2 Cooper Bessemer 2 Cooper Bessemer 1 Gorroon ) piA 4% & R pt 100 & Courtaulds Ltd 1y Grocker Wheeier 5 Crowley 37 Curt Alrport vte' ‘wi 3 Curtiss Aero Exp Milner 1% 40 1 Curtiss Fiying Ser: 5 Curuss Reid Air pf. 6 Daniel Reeves 1Davesa Inc .. 3's Deere Co. 11 Be*Fo. ¥ 8. 4 Durant Mot . 2 Duz C 14 East Stal 19 Eister k| 383 El Bond 3El Bond 52El lnvest A vic tes Pow B. 1w & si & t ‘Inc. Skl lavest Inc pid . SEl P & L opt_war. 1kl R Securi Co. 18 em Pow 2 Ei 16 Ex Fairchild 5 14 Fajarao si 1§ Fandan 1 Fanny 1 Fansteel 1Fed Bere ng Pup 8 ans Wall Lead Cor... ol Aviation Co. Corp A Tnc. Prod w 11 Federal Wat 4 Piat stk deb rts. 2B First Am .. . 3 Firestone Tire pirest T okker 7% DA Airp " Am. 1Nat P&L i3 pid 14 Nat Rub Mach 3Nat Screen .. 2Nat Bug R N J'n 48 Nat Theater Sup . 2Nehi Corp ... 13 Neisner Br pfd... iNelson H ... 3 Nestle LeMar . 1 Neve Drug A COD 4 Newberry J J 1Newberry J J ris ... 2 New Haven Clock 1y New Eng Pow pfd 3N Orl Gr No R R 10N Y Invest v 1New York Merch [l 9 Niagara Shares . 3 Niles Bem Pnd...... 13 Noma Elec : 67 Nor Amer Aviation 1 North Amer Cem 8 North Am Utility 8¢c 16¢ North Eastern Pow.. 3Nor Sta P A 33 Nor Sta P pfd’. 4 Northam War pid 1 Northwest Energ . 1s Ohio Bel T 75 pfd 20il Blocks A......... 3 Orange Crush 8 Outboard Motors A 3 Outboard Motors B 12 Paran 2108 38 end D Groc B C Penney & Co C Penney & Co ris 220 C Penney Btd . 99y & ELAILLL 12 Penn Ohio Ed. .. YaPenn O Ed 6s pid %4 Penn O Ed p pfd 3 Penn O Ed optl war. 30 Pennroad Corp vic. .. 3 Peop Lt&Pow Corp A 49 7 Perfect Circle. 38! 4 Perryman Elec 10 Petrol Corp 1 pi 1Pet Milk pfd e 29 Philip Morris "1 [ € Philippe (Loufs) 2 Ehilippe (Louls) 8Pick Bar & Co 1Pierce Governor . 9 Pitney Bowes P.. Brudence Co bt nv ug 8 P & L piilll sinbow Furn .01l 2 Rellance Br & St 4 Repetti Candy 1Rep Mot Tri 3 Reynolds Metal ... 5 Reynolds Met pt' pf 1Richman Bros ......1 7 Ritter _Dental €3 Roch_Cent Power 2 Roosevelt Field 1Root Rfg Ov pr pf 2 Ross Stores 1 Ruberoid ... 1Rudd Mfe . 3, 8afe C H & Lt ¢ 8ale-T-Stat ... 28§t Regis Pepe 3 8chlet” & Zander.: 'l 4 Schlet & Zander pf.. 2 Schulte Real Est. 1 Schulte Un Sc-$1 Sec Gen Am Inv. 8cc Gen Am Inv pi Segal Lnck & Hardw Selected Ind Inc. ... Sclect Ind Inc pfd. Sentry_Safety Control 2 8erv El vic.. 28heafter Pen .. 2 Sharon 8tI Hoop 18herwin Wms Co 5 Sikoreky Aviation 26 Silica Gel ctfs .. 41 Southeast P & L .. . 28outhe P & L war. .. 3 South_ Asbestos 280u C E 8 pf i South’ Coast 18 Sou Royalty . 1Sou Grocery Al [l 3 gouthw Dairy Prod . pans en 1 1 Spieg M 8t cum pfd 86 93 Sparks W n wi 4 Stand Inv 41Stanc Mot [.lll 1Stand Pow & Lt 1 Stand Stl Prop . 4 Starrett Corp 18tein & Co.. . Il 15 Stein Cosmetics. .. " 12 Sterl Se pt allot xd iy Stetson J & 1 Stromb Carls ‘Tel. 18 ntl ctts . Tai 1 Tenn Prod 11nermoid . 13 Thomps Prod Al 1 Thomps Starrett pf.. Tob Prod Export. §Todd Ship 32 Toddy vic 53 Trans Am 7 Transcon Air Trsp. 30Tran Lux DL P 8 A 3 Travel Air_Co. 11 Tri Cont Corp Cont Corp 3 Trunz Pork btore 1 Tung 1uni 4 Unioh' N 4 Union_Tobacco . 1Unt - 1 Uni 4Uni 1 Uni P c B2E8EBE! For Bec. ! For 8 1st pfd reight of Del » enBamssuaBoswarssuSie <<<gcacccacadadeccead S5 5 ol FIEE L | 3 points on December. | the week, 5.127.000 bushels. ontl GAE et Intl 78 52, .. 7 ix G G 8!8 A 4 ElPas N Gas 6123 38 10013 mOTo! 1 Garlock Pack 6s 390 97% 8 Gen Ind Ale 6135 "44. 103’2 7 Georgia Pow 8367, . 96's 17 Houston G G 6'2s '43 85 7 Hous Gulf G, 6s A '43 85 6111 Pow&L S'us 'S4 .. 10014 Ind Oil & Gas 6s 39 1187 Intl Sec Amer 55 87 Intersta Pow 5s 2 Tntarsta Pow Inv C A 5¢ A Kop Gas & C Lehigh Pow 65 A 20 b McN & L 55 '42 92 Mass Gas $ias ‘46, | 103% emphis Nai G 65 ‘43 9913 inn P &L 4708 78, 89 ag El Co 55 A * y 5 Nat Pub Serv 5s ‘78 at Rub M 65 43 5 ew Eng G & E 55 48 89! Y P &L4s 67T, 91% c Wm Ofl 625 43 96 nn O E 65 A ‘30 ww 100% E P 5ios - 1 238 2 £33 BRean D i} 22222 Bornmananiiias ®I3203TD: Gas, h W & P4 12 Snider _Pack 65 '3 10 Soue P&L 65 A 2025 12Sou Cal Ed 55 51.. 10 Sou Cal Ed 5s_'S2. 4Stand P & L 63 ‘57 2 Sun "Oil 9. 1 20 Switt & 55 '32.0 2 Texas P & L 55 '56 90Tr Lux 6'zs ‘32 ww 7U S Rub 6las '33... 08 12 Westn Pow 5ias A ‘57 123% Sales FOREIGN BONDS. in thousands. 26 Berlin C E 613x '59 2 Buenos Alres 7! 4 First Boh Wk 10 Frankfort 61 & Free St Prus. 6 Gelsen Min 6s n Cons Mun 6s 4Iial Superpow 6 6§ Mendoza 7 43 Stinnes H xd—Fx-dividend. wi-_When issued. n-—New ww—With wararnts. COTTON PRICES GAIN. NEW YORK, May 20 (Special).— Unfavorable weather over the greater part of the South over Sunday caused ! an advance of 15 to 20 points in cotton prices at one time today. A later set- back wiped out virtually the entire im- provement. Covering of July toward the close left the list with a gain of 7 points on July, compared with a loss of Spots were ad- vanced 5 points to 19.90. Range: May July "l QOctober Qctober, December January March . High new. CHICAGO, May 20 (#).—Despite word that Congress had failed to reach an agreement regarding debenture legisla- tion wheat and corn scored advances in price. The United States wheat visible supply total showed a big decrease for There also were reports of some changes for the worse in the condition of domestic Win- ter wheat. Wheat— May July September . Beptember . December Beptember ..... Lard— TRADING STAMP PLAN Firms to Save Thousands Yearly Through Discontinuance of Coupons. | banks in the Northwest were 3, Ford Mot Co C B n 45F M Can A n.. 33 Ford Mot Ltd. 3'4 Ford Can ris, 10 Foremost Dairy . 22 Western ‘Air Exp .l g Western Air EXp ris 3 Western Dairy ris.. 2 Whitenight Inc 2 Willlams (R'C) & Co 1 Wil Low Caf ........ (T BY J. C. ROYLE. Special Dispatch to The Star. BANKING GOMBINES REPORTED IN WEST s | Mergers and Working Agree- ments Represent Modern Tendency in Finance. BY JOHN F. SINCLAIR. Special Dispatch to The Star. NEW YORK, May 20.—Here is the banking picture in the Northwest in miniature: Less than three months ago the two largest banks in St. Paul, Minn, the First National Bank and the Merchants National Bank, joined hands. There was much rejoicing, for it gave St. Paul its first $100,000.000 bank. No other | St. Paul bank in deposits or in resources was in its class. In fact, only two larger than the new First National Bank of St. Paul. Those two were the First National of Minneapolis and the North- western National of Minneapolis. But the ink had scarcely dried on the merger announcement when the First National Bank of St. Paul and the First National Bank of Minneapolis, representaing combined resources of more than $275,000,000, joined hands. ‘These two powerful institutions did not merge. Each maintained its own corporate identity and banking inde- pendence, but together they united| forces and organized the First Bank Stock Investment Co., to own and operate banks throughout the rinth Federal Re- serve distriet. ‘This company. with an authorized capital of $50,000,000, consisting of 1,000,000 shares of $50 each, is equally | divided between these two banks. A majority of the outstanding stock is under a pooled trust agreement bett.cen them. At no time can there be more than 49 per cent of the company stock in the hands of the public. “Ten years ago such an organization as this one would never have been thought of,” said Paul F. Leeman, presi- dent of the First Bank Stock Invest- | ment Co. and vice president of the First National Bank of Minneapolis. “Country bankers would have resented | such a movement on the part of the larger city banks. But not so today. | What a change in our banking ideas in a short decade! | “The little country banker has not |had an easy time in recent years.' continued Mr. Leeman. “Since the deflation of 1921 he has had his hands full. His resources were limited and oftentimes he found himself in deep water. The little bank, even some of the well managed little ones, were forced to the wall because they could | draw no further on banking resources. | And so many closed their doors.” “Then is branch banking the next | step?” I asked. | “We are not advocating branch bank- NNOUNCING~ | Pirst National of Minneapolis, seeing | Leeman. | the bright days ahead.” ' ing. Our mew organization is not built on the branch bagking basis at all. The First National of St. Paul and the the need for some such plan, organized this way in order to preserve the inde- pendence of each banking unit while giving it powerful banking support. If we buy a key bank in North Dakota, for example, we keep the organization intact if the personnel is efficient. We | place no representation on the local bank's directorate, but we do super- | vise and co-operate in every way to give more effective banking service to every community we enter.” Mr. Leeman referred to one North Dakota bank, which was purchased two | weeks ago and has reported an in- crease of 20 per cent in deposits S‘ncei that time. Confidence was restored to | the depositors. | | no stock for sale,” sald Mr. | ‘We do not_expect to go out and buy every bank offered us. But we “We hi | will take over from time to time such banks in the ninth Feaeral Reserve dis- trict as are worthy of support and stronger financial co-operation. ‘The | Northwest has had a lot of grief since | the deflation period, but the worst is over. So we are merely planning for | Last Saturday the Aberdeen, S. Dak., National Bank and its affiliated savings institution was bought by the First Bank Stock Investment Co., thus bring- | ing four and a half millions more of | banking resources into the new com- | pany. J. C. Basset. chairman of the Aber- | deen, S. Dak., National Bank, which was | purchased by the First Bank Stock In- vestment Co., has been a prominent cit- izen of South Dakota for over 40 years. It was the cold, deep-snow Winter of 1887-1888 when young Bassett arrived in Minneapolis from Connecticut, ready and anxious to go immediately to the prairie country of Dakota (for the Ter- ritory had not yet been divided into North and South) to seek fame and fortune. But the snow was too deep and the weather too bitter. So for several weeks Bassett was forced to lay over in the new metropolis of Minne- sota. But when the Spring came and the snow began to melt, he started. (Copyright, 1929. by North American News- paper Alliance.) By the Associated Press. NEW YORK, May 20.—New securities offered today include: Two million two hundred three thou- sand dollars I B. Kleinert Rubber Co., no par common stock at $40.50 a share. One million nine hundred ninety-six thousand _dcllars township of North Bergen, N. J., 6 per cent gold bongs, dated April 4,'1929, due 1935, to yield 5 per cent. One million seven hundred fifty thou- sand dollars City of Camden, N. J., 5 per cent gold bonds, dated June 1, 1929, Gue June 1. 1934, at $101.75, to yield 4.60 per cent. Steel Order Placed. NEW YORK. May 20 (P.—The Bethlehem Steel Co. has received orders from the Reading Co. for 4,000 tons of structural steel. BANCAMERICA—BLAIR CORPORATION in connection with the consolidation of THE BANK OF AMERICA N. A. and THE BLAIR NATIONAL BANK OF NEW YORK Today the investment securities business of Blair & Co., Inc;; which it has heretofore conducted, and the securities business of The Bancamerica Corporation, affiliated with The Bank of America N."A., begins functioning as BANCAMERICA~BLAIR, CORPORATION Amusement Co. of Pittsburgh, operators of about 20 theaters, have contracted with Sentry Safety Control Corporation for installation of Sentry safety devices. 3 Foremost Dairy pid 2Forhan Co A ..... 2 Foundation For A. 19 Fox Theaters A... .. 17 Freshman Chas Co.. 1 Gamewell_Co. 4 Garlock 2 Gen 5 Gen 37 Gen 6 Gen 25 Gen 2 Gen 1Gen Fire $Gen Ind 3 Gen 13 Gen Ry 2 Gen R & Pkg Alloys Prig n : Alc vic wi U Cor pfd. iGen 2 Gllbert pfd.. .. 1Gien Alden” Ce 3 Gold Sea; 18 Gold Seal 4 Goldberg. 54 Goldman I Elec 1 Elec n Stores. .. Sachs n 8Goth Knitbac Mach 2 Gramoph Co Ltd rets 3 Granite City 8tl 112 Gt A&P Tea non vic 28 Grigsby Grunow n 1 Ground 1 Guardian 5 Hi Grip Shoe . ;s Printing . 8 Happin C St A 12 Haygart Corp 23 Hazeltine Corp ' % Helena Rubenstein 1 Hercules 7a Hercules Powd Pow 1H Walker G & 12H Walker rts.... 3Horn A c 1 Houdaille “Hershey ‘A 3 Household Finance pf 2 Huylers Strs of Del 1 Hygrade 1 Imperial Food Prod.. Tob 8 Indust Finance ctf. . 3 Insur Co NA. 4 Insur Secur.... 25 Ins Bhares A. 11Int] Perfume xd 10 Intl Project n 11Intl Saf Raz B. 11ntl Shoe 32 Intern U 2 Tntern Ul 0B il pfd 5 Interstate Hosiery 3 Investors Eauity 24 Irving Air Chu'e 10 Ital Buberpow A 2 Ital Buperp deb rts 2 Jonas & 3 Jonas & 1 Ken-Rad 13 Kevstone Naumb... . Naumb pid. Tube & L. Aircraft 1Klein Henry pt pfd.. 11 Kleepest 2 Knof Rubber wi Co.. 8 Kolster-Brandes 2 Lakey Found & M 1 Lefcourt 3 Long Isl *a Long Tsl Real 57 xd 172% 12 2 L. Lt ‘pf § Loulsiana Land & Ex 11 2 Mac} Stores. ; Manhattan Rub Mangel Stores . 1 Stores pr. ont Intl Mar. . Wire Lond B 4 Mavis Bottling 1 Ma: 3 McCord Hosiery bt 1 McLellan Stor A 7 Mead Johnson 33 Memphis 7 Merritt 1 Mesabi 1 Met IMWCT 3 Mfller ¢ 11 Minne Hon Reg ioM Moline 'p 2 Mis Ka 6 Mohawk 2 Moh Hu 2 Mohawk 2 Morrell 3 Motor 1 Municipal Sery . 2 Nachman_ Spgfid. ... 1 Nathan 5 & 50 BU AL 1Midl '8t Prod. . Chap 1ron o s pf noi 1) & Bon 83835, 2228 Inc ns Pipel Hud Pow d P 1 pfd Hud war.. J) & Co 3 Meter Gauge 31 8430 2713 - 32532 Straus .. Saies in hundreas. 1 Worth Inc A 4 Zenith Radio . Sales MINING ETOCK: in hundreds 4 Aris_Globe C.. 3 Carnegie Metals' 5 88 Com fun & Draih n 15 Cons Cop Mines 2 Dolores ksper . 110 Faicon Lead M 32 Plxst Natl Copper 6Goid Com........... 4 Goiden Center M.111] 1 Goland Con 4 Hecla_Min 4 Hua Bay Mij 1Kerr Lake 2 Kirk & Li 11 Mason Va 5Min Co Ca 1 Montecatini 4 Noranaa 10 Shattuck Denn 480 Am Gold & P 235t Anthony Gold 1'eck Hugnes 2, Uni Verde Exi 8Unity Gold. .. 1 Walker Mines 12 Wendon Cop 1 Yukon Gold.. INDEPENDE! 2 Am Con Oilfids 10Am Maracalbo Co BATED Gl ... 6Carib Bynd .11l 72 Cities Serv n. ot 2 Ciules Berv n s 7'd.. 4Cit Serv pfd 1 Colon OIl Co.umbia 2 Cons _Royalty 4y preote Fece..: 1l Grown Cent Pete. ... Darby Pete. . Ref. 1 Hous 60 Intercont 1 Kirby s Leonard O) 2Lion OMl... . 8TLone Stari G Deil’ 8 Lone Star G Del. 10 Mex Beabd . 1 Mount Gulf .. 8 Mount Prod 3 New Bradford 0.0 2 Western Ol 29 Pandem Ol . . 8 Pantepec Oil 3 Plymouth Ol 15 Rejter-Foster O 2 Roval Can O & R 203880 PanEabesdTonnic88etaamod! o 8 Transc O1l ‘ptd i 11 Venezuelan Pet ... 3 Woodley Pet ik Sales in __STANDARD OIL I units. FORMER_SUBSIDIAR! 100'Anglo Am’ Oil. Sl 100 Atl Lobos ... 200 Chesorgh Mfg 2200 Contl Ol ... ¥s Gas 8§ O pfd old 20 Gal S O pfd n COD. . 2900 Humble O & R...... 100 Illinois P L. 100Imp O Can. . 200 Imp O Can n 200 Indiana P L 2700 Inter, Pet Ltd 3200 Nat Transit . 300 Ohio Ol . 300 Pen Mex Fuel P < 52 i 100 Vacuum Oil Sales 20 Abitibi P&P 55 A 8 Alum Co Am bs '82.. 85 Am Comw 8s ‘44 .. 11Am Gas & E| 5s 3028 34 Am Roll Mill 55 '48... 19 Appal FI P 5s '86 6Asso Dye & Pr 6 '38 85 256 2 18 COD 75 | Clgar Stores and the Schulte Stores in- | sue of coupons redeemable in merchan- | when barter was the main method of | that the policy cost Schulte $700,000 a NEW YORK. May 20.—The day of the green trading stamp and of the premium department seems to have passed definitely as a dominant major factor of modern merchandising. This development was marked by the an- nouncement today by the United terests that they will abandon the is- dls; premiums. 'or many years, the green t stamp and the coupongrclllll’l?d?&‘; merchandise on collection of a certain number have been used to stimulate retail sales. Undoubtedly they had a marked appeal for a long time. They took the place of the additional offer made to clinch a bargain in the days the acquisition of goods. It is estimated year and conservative retailers believ the cost to United Cigars is well oveg : million a year. Abolition of the trading stamp comes at a time when the two big chains ob- viously are anxious to strengthen their position in the retail field. They have been fighting the retail grocery chains, which have been selling cigarettes of popular brands at a low price as an at- traction to get customers into the stores, with consequent opportunity to seli other products. The United and Schulte =ay these romgnnlea have been selling at less than the cigarette cost to put out. Already United has started cutting prices of popular 15-cent a package brands in some sections, notably the Pacific Coast. These cigarettes will now be sold all over the country by Schulte and United at two packages for a quar- ter. The prices of cigars will be cut simi- larly. This move will give the chain cigar stores another weapon with which to fight the grocery chains which use to- bacco products as leaders rather than profit makers. The cigar chains are now introducing luncheonettes, soda foun- tains and a list of diversified products £0 as to place themselves in this re- spect on & more equal basis with the groceries. Baltimore Grain Exports. BALTIMORE, May 20 (Special).— The Maritime Exchange reports 598,273 bushels of grain were exported through the port of Baltimore last week, of which 147,757 bushels were wheat and 450,516 barley. Flour shipments for the week totaled 2,433 barrels. MONEY MARKET. NEW YORK, May 20 (#).—Call money, easier; all loans 7 per cenf closing bid, 7 per cent; time loans, firm mixed collateral, 60-90 days, 9 per cent 4-6 months, 83, per cent; prime mer- cantile paper, 53a6 per cent. Bankers' acceptances—30, 60 and 90 days, 53ga5'; per cent; 4 months, 53a 5‘,tper cent; 5-6 months, 5%a5'5 per cent. Hungary has only about 19,000,000 unemployed. Pending the necessary alterations of The Bank of America N.A. Build- ing at 44 Wall St., New York City, the operations of Bancamerica-Blair Corporation will be tex_nporarily ;o_nducted at 24 Broad Street. The banking business formerly conducted by Blir & Co. is"merged into that of The Bank of America,National Association;"at 44 Wall Street—which has been the address of The Bank of America since 1812. Totalcapital funds of The Bank of America N.A. and Bancame.rica'Bla.ir Corporation, will exceed $127,000,000 and total resources will exceed $500,000,000. The capital, together with the combined experience of the personnel, assures old and new customers improved facilities for the securities and banking business. The Board of Directors of Bancamerica-Blair Corporation comprises: Elisha Walker, President Edward C. Delafield ~ Hunter S. Marston George Armsby Roger K. Ballard Leo V. Belden Georges Benard Harry Bronner J. Cheever Cowdin J. Grant Forbes A. H. Giannini Edward F. Hayes Clarence Lewis George N. Lindsay Jean Monnet Henry C. Olcott John E. Rovensky Lewis P. Sheldon W. H. Snyder