Evening Star Newspaper, May 31, 1929, Page 15

-GERMAN BOND LIST 1 Lfi’i»erts of Impending Repa- | ¢ in which money has been | } higher grade domestic mortgages, which { | W [ ;tofreunc in the Chicago district from 1 | | | extra_dividends of 50 cents each, in | { { of the lower coupon rail issues was an | By the Associated Press. | stock, priced at $25 a share. {SEIRES ADVANES ~,',a,,|ons Settlement Influ- .| ence Various Issues. BY CHARLES F. SPEARE. .l-(i:fl Dispatch to The Star. NEW YORK, May 31.—Activity and | in German obligations frfl-} ‘The strength iyred the bond market today. balance of the foreign list also present- ed a greater number of advances, due chiefly to the better prospects for an mediate settlement of the reparations muestion. GefhiAn agricultural bank mortgages were up a couple of points each in the edrly dealings and the government ex- ternal loan 7s improved half that mucti on light demand. On the other side Berlin 6s dropped 3 points on a_few sales. while the 6155 rose fractionally. The market as a whole was still an drregular affair, but displayed hardening tendency on the absence of any undue | pressure on the money market with the pessing of the heavy month end de- mand. The renewal rate for cail monev femained at 6 per cent, which carrie over many borrowers until Monday. This week marks the first long period relatively easy at an unchanged figure since carly In January. It had an effect on some of the were in light demand. Some of the 5 per cent utility and railroad bonds were | fractionally higher, but the United States Government 'issues, which have been most sensitive to the fluctuations in the money rate, were scarcely changed. The big rise in some of these before the holiday was not followed up, most of the long term issucs displaying | extreme dullness up to midday. On the | other hand Liberty Firsts 3'.s, which | touched a new low Wednesday, showed a recovery of almost half a point. Railroad bonds displayed mixed ten- dencies. and were only fractionally changed. Issues of the better type were moderately higher, including Atchison | General 4s, Southern Railway 4s, and one or two others. Atchison convertibles, | again moving with the stock, rose at the start and then reacted. A feature advance of over a point in Kansas City Southern 3s. Among the speculative railroad issues, Seaboard Air Line adjustments, which under the new financing plan are ex- changeable for common stock, and 6 per cent consolidated mortgage bonds ad- vanced in the first few transactions, but subsequently eased. St. Paul ad- Jjustments moved similarly. A few other Jjunior rails also scored small gains early in the session. ‘There was not much doing in the in- dustrial section nor in the utiliti ‘while activity in the speculative con- vertibles dwindled when their stocks developed fresh weakness. Lib3%s.... 56 Libist4%s 8 Lib th 4348 178 1 US3%s47 US3% US4s US4%sb2. Argentine Bs...... | Argentine 6s Oct 53 Argentine 51%s '62 Argentine 6s B | Australia 4348 5 Belgium 6s.. | Belgium 6%s... Belgium 7%s Belgium 88 Bolivia 75 ct *69.... Bolivia 8s. . | Bordeaux 6: Brazil 6155 102 | Brazil 613192 Brazil 7s. Brazil 8s. . | Bremen State Cunada 6s 195 | Canada 5% 1939... 11 Chile 63 '60 Chile 6561 Chlle 78 194 Chinese Gov Ry bs. Colombia s Jan'61. Con Pow Japan 78. . Copenhagen 4%s 63 Copenhagen bs ct.. Cuba 53%s. .. Czecho 83 1951..... Danish Munic 8s B.. Denmark 4 Denmark Denmark 6s . Dutch East I 65 47, Dutch East I 68 Fiat 7s war "46..... Flat7s x war 46... Finland 6%s. Finland Frameri French 7, French 73 German EI P German 7s German Bank 65 '38 Ger Gen Elec 78.... Haiu 6s.... . Irish Free State 58, Italy 7s. . [talian Pul Japanese 48 Japanese f1gn. Kreuger&Toll bs et Lyon 6: Marselile New So Wales 57s.. New So Wales 58 Nord 6%s Norway 53 1963, Commodity Bpecial Dispatch to The Star, Steel. CHICAGO, May 31.—Third quarter prices on bar, shape and plate deliv- eries are expected to be the same as to 215 cents a pound. to All pro- ducers are expected make these prices. ‘Wool. BOSTON.—It is reported here that bnly about 1,000,000 pounds of Texas 8-month wool remains unsold. The recent heavy sales at San Angelo and Kerrville were made at prices which were not made public. Some Texas ‘wool here, however, has been reported #old as low as 90 cents clean. Gas. HOUSTONw=dlhe Dixle Gulf Gas Co. has entered ®n agreement to buy 35,000,000 to 75,000,000 cubic feet or natural gas for pipingg to Houston and other Texas cities to supplement exist- ing supplies. The gas will come from the Arkansas Natural Gas Co. whicl has gas wells In the Monroe and Rich- land, La., fields. Fruit. SAN FRANCISCO.—Where water is plentiful the Valencia orange growers are filling the irrigation ditches with as much water as the trees will take 10 Increase the size of the fruit which has been made small by the heavy set. Much new planting of orchards is taking place as a result of favorable returns in recent years. NEW YORK, May 31.—New securities offered today include: One hundred thousand shares Inter- continents Power Co., class A common One hunred and forty-six thousand #hares Marvin Radio Tube Corporation, no t?“ common stock, priced at $14.50 ® share. Broker in Difficulty. NEW YORK, May 31 (#).—Mike H. ‘Thomas of M. H. Thomas & Co., Dallas, Tex., a member of the New York Cotton Exchange, notified the exchange today that he was unable to liquidate his as- sets and meet his obligations. A tele- gram from Mr. Thomas was read from ibe rostrum of #he exchange. EXTRA DIVIDENDS DECLARED. NEW YORK, May 31 (#).—The New Jersey Zinc Co. today declared two addition to a quarterly dividend of 50 cents per thare, placing the new stock, recently split up 4-for-1, on a $2 annual basis, equivalent to $8 paid on the old stock. The extra dividends are payable June 14 and July 10 to stock of record June 1 and June 26, respectively, while the regular dividend is payable August 10 to stock of record July 20. Directors of Parke, Davis & Co., have declared an extra dividend of 10 cents a share, together with the regular quar- terly dividend of 25 cents, both payable June 29 to stock of record June 18. The company paid an extra 10-cent dividend in the preceding quarter. Box Car Order Given. NEW YORK, May 31 #).—The Standard Steel Car Co. has received orders for 240 box cars from the Mexi- can Central Railway, according to Iron , and the railway is in the market 5 Peru 6s 1960 Peru 6s1961. RhineWst EP 65'52 RhineWst EP 65'53 Rio de Janeiro 6%4s. Rio de Jan 85 1946. Rio GrDo Sol 6348 Rio Gr Do Sul Rome 6%s San Paulo City 8 Sao Paulo 85 1936 Sao Paulo 1950, Saxon (PW) 7 Seine 7s 42, 1 | Serbs Crot Slo 8s... Shinyetsu 6%s 52 Soissons 6 Sweden 53 Sweden 68 Swiss 5%s Swiss Confed Toho E! Pow 7 Tokio 65 Tokio 6338 196 Utd Kingm 63%s 37, Uruguay 6s1960. Uruguay 8 Vienna 68°52. Warsaw 7858 Yokohama 6s.... AmAgriChem 7%s. Am Beet Sug 65 °35. Am NatGas 6148'42 Ah Smit & R 13t Am Sugar Ref 6: Am T &Yeltr AmT&Tst b Am Tel & Tel 6 Am Water Wks Am Wrtg Pap 65’47 Anaconda 1st 65 Armour&Co4%s 39, Armour Del 6348, Associated O]l 6 Atlantic Refin 53, Bell Tel Pa 68 B Bell Tel C. Beth Steel 5%s Bethlehem Steel 6; Bush Term Bldg b Certain-Td5% Chile Copper b: Colon Of1 6s'38. Col Gas&El deb Com Invest 6% Com Invest 6s 48 ConGasN Y 6%s.. Consumers Pow bs.. Cuba Cane 8s. Detroit Edison 6: Dodge 6s. . . Duguesne 4% 6 East Cuba Sug 71%8 Fisk Rubber 8s. Gen Asphalt 63 Humble O & R (llinots Bell 1st 6 Tlinofs Steel 4% Inland Stl 4%s Intl Cement 58 48 intl Match 53 47..... Int Mer Marine 6s.. | Int Paper bs | Inter Paper 6s | Int Tel&Teleg 4%s. for 800 additional cars of the same type. Change in Metal Buying. NEW YORK, May 31 (&) —Inactivity in the metal markets is said by produc ers to be diue to a change in buying practice from far-forward commitments 10 buying for prompt shipments, the En gineering and Mining Journal repor FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) ¢ Nominal gold Selling checks value (or par). & 138665 193 13 2362 W 2loty enhagen. crown 0. crown 2685 kholm, crown 12674 | Laclede 63 | Ligget&M | Loew's Inc 6s Loew's 6s wo Lorillard §s. . Lorillard 6%s. Midvale Steel 6a. Mont Power deb bs. | Mor's&Co 15t 4%, Nat Dairy 6%s NY N Y Edison 648. NYGELH&Pbs N Y Tel 4%4s. N Y Tel 65 41 . North Am Edis fs.. No Am Ed 5%s'63. Nor Ohlo Tr & L 68 Nor States Pow 6. Pacific Gas & EI 6. |PacT&T 68 3 | Pan-Amer Pete & 98 a: 15 29 9610 UNITED STATES. (Bales are in $1,000.) High. Low. 616 963 98 18 9829 96 10 96 10 100 8 10310 103 10 106 10 106 10 FOREIGN. Sales. High. Low. Cl 90° w0 5 100% 20 20 1 Greek 65 1968 . 17 4 20 28 6 30 an 5 - T G 46 15 3 5 a3 10 11 2 1 100% 1 11 107 107 100% 6 351y 821y 9844 85% 96 100 110 109% BTlx 9% MISCELLANEOUS. Abram&Straus 6%s 2 103 Alleghany Cp 65’44 24 99% Alleghany 68’49 wi 74 100% 1 104% 21187 Am Chem 53%s cv'49162 100 Am Int Cor 513849 19 102% 78 103 98% 100 104% 87 9914 102% T 99% 102% 9914 1201 1024 102% 105 96% 9974 100 100% 103% 104% » 10118 7 103 98 76%% 941s 95 97% 904 91% 104% 100% 60%% 1065 100% 6014 971y 28 103 8 95 1 100 1 9 11 B9, 904 91% Int Tel&Tel 4748 cv 303 120 5 100% 100 1 2 100 3 Pan-Amer Pete 7s.. 1 Paramount 63 1947. Pathe Exchange 78, 99 99 9915 102% 102% 1071 1071 101': 10415 lose. TAR. WASHINGTON, i 02 0) FRIDAY, MAY 31, 1929. Sales. High. Phila Co 58 67 Phila & Read 6s'49 108 Philips Petro 6% 8. . Por Ric Am Tob 6s. Postal Tel & C 5%s. Public Service 4148, RemingtonAr 6s 32, Rem Rnd 538 war.. Sinclair O1l 6s Sinclair O1l 6% Sinclair O117s. .. Sin Pipe Line & Skelly Oll 6348. .o South Bell Tel 5s. Southwest Bell 8. . Stand Ofl N J 653 46. Stand OfIN Y 43%s. SugarEstOriente7s. TennklecPow 63 Transcontl Oil 6 United Drug 68 63.. U S Rub 1strf 6s... U S Rub 7%s. Utah Pow & Lt 6s.. Utilities Powr 5% Vertientes Sug 7s.. Walworth 68 "45. Westn Union 6% White Eagle O b3 Willys-Ov 645 33.., Wilson & Co 18t 6s. WinRepeatAr74s.. Youngstn S & T 5s. 14 14 23 967 100 3 89% 7 99% 9214 2 192% 9714 " | Tenn Cop 6s B’44.. 12 9 10 1 6 100% € 106% 1 99% RAILROAD. Atchison ad) 4s Atlantic C L, Ist 4s. Atlantic CL 4% B&OcCv 4%s B&OTerbs...00 B & 0582000 D..u B&O 1stbsect. B & O rf1mp 6s. B & O PLEWY 43, B & O SW58 60 Boston & Maine bs.. Brdway&Tth Av 5s. Brookiyn Elec 6%, Brook!vn Elev 6148 Bkiyn Mannat 6s Buft R & Pitt 4% Can Nat 4% 30 Can Nat 4%8 54 Can Nat 4%s 67 . Canada Natl413s'68 Canad North 6 Canad Pac deb 4 Can Pac 4%s 46. Car Clinch&O 6s 52, Central of Ga 534s.. Cent Pac 1st 63 90.. Ches & O Corpn 53.. Cnes & Ocv 4% Ches & O gn 43%s.., Ches & 0 4%43'93 A Chi B&Q gen 4s 53.. Chi&Is 111 gn 65 61.. Chi Gt West 45 69., ChiInd&L gen bs. . Chi M&StP 48 B. ChiM1ISP&PactsTs. CMSP&Pacadi5s03. | Chi NW 438 2037 Chi& NW 6% Chi & NW 7s. Chi Rys 6s. Chi R1&Pr: Chi RI & Pac 4345, CCC&StL deb 4%s. CCC&StL6sD. CCC&StLrfésA., Clev Term 6% Cuba R R bs.. 4 100w 83l 921y 901y 969 874h 101% Del & Hud 1st rf 4s. Del & Hud 5%s. Del & Hud 7s 30 Erie Gen 4s. Erie conv 4s A Erieconv 4s B Eriecy 5567, Erte conv ext 7 Fla East C s 7 Gr Trunk stdb Grand Trunk 7 Gt Nor 43376 Great North bs Great Nor gen 7. Hav El Ry 6s 52 Il Central rf 5s n Int Gt Nor 581956 Int & G Nor 1st 6s. . Int&GtNor adj 6s 53 Int Rys C A 68 72.., Int Ry CA 6%srct. Iowa Cent 1st 58. .. Kan City Ft S 4s, Kansas City S 38 Kansas City 8 5s.... Kan City Term 4 Lake Sbore 4s 31 Lehigh Val en LehiVgen 435 2003 Louts & Nash 7s. MStP&SSM5sisgtd. M StP & SSM 6%s. Mont Trm ref 58 41. NOTex & MbsB. Northern Pac r 1 6: Ore Short L rfs 4s Ore Short L cn 58, 4 |Ore Wash 1st 4s.. a7 % Pennsyl gen 434 Penna RR 4% Pennsyl bs 64 Pennsyl 6%s Pennsyl gold 7s. Pa Ohio & Det 443, PCC&StLSS A PCC&SL 58 B 75. . vortiand £ P L Cs., Port R L & P §s 42. Reading gen 4148 A St L 1M&S R&G 4 StL&SFDI4BA StL&SFr4%s? StL&SFprin StL S W conds StP Un Dep bs. Seab A L ref ds. Seab A L con 6 SBAIlFla6s35A. Sou Pac clt 4 Sou Pacific ref 4 Sou Pac 4% s rets. Sou Pac 4725 '69 wwi| Sou RY 6%48.... Tex & Pac 58 C*79. Thira Ave ref 4s 60. Third Ave 1st 5 Third Ave adj 5 Union Pac 1st 4s Union Pac ist rf 4 Unlon Facific 4568 - » N [ T e R P Oy | Mo Pacific 58 G *78. 20 Mo Pac 5% 549 evt 156 Tex & Pac 6B 1977 © P =T 9 SeabAL ad) 58 1949, & 014 19 6 118% 07% 96n 524 1 s « 8l [ovv o BONDS e Received by Private Wire Direct to The Star Office 96% 92 10214 103 100% 831y % 109 98 102 96% 101% 107 118% 974 96 518 91 3914 9214 83% 84 5 | 23a26; TRADING 1S QUIET AT-D. C. MARKET Post-Holiday Demand Small—Fish and Crabs in Good Supply. Is Trading this morning was very slow, according to market, Teports, a condi- tion that was expected the day after a holiday. Heavier trading tomorrow is anticipated, however, workers and others receiving their pay today. Marine products were in much greater demand than most other com- modities and buyers were in evidence at Municipal Fish Market very early in the day, some to get supplies for the breakfast trade, while others, looking for supplies for the dinner trade, ap- peared later Fish Are Plentiful. | Wholesalers were amply able to ac- | commodate retailers and consunters who | wanted fish, crabs, clams or other varieties of marine products. Crabs, { both hard and soft. and crabmeat were in demand at prices dealers termed reasonable to cheap. and some varieties of plentiful receipts of fish sold as low | as 5 cents a pound. Dealers in fruits and vegetables had arrays of commodities to claim the at- tention of retailers, supplies being in excess of demands. Receipts of black- berries and cherries this morning were much heavier, the two fruits gradually taking the piaces of strawberries, the season for the last named gradually drawing to & close. Only moderate quantities of straw- berries were on hand to be offered the retail trade this morning, prices being slightly higher than prices quoted earlier in the week. Homegrown ber- ries sold around $3 a crate of 32 quarts. A slightly firmer condition of the egg market was reported this morning, prices slightly advancing, while slightly lower prices were reported for poultry. Meat prices continued the same as those quoted yesterday. Today's Wholesale Prices—Jobbers® Prices Slightly Higher. Butter—One-pound prints, tub, 43ad4; store packed, 30. Eggs—Hennery, 33a3 3rlresh selected, 44a45; s, hens, 30a32; Spring chickens, small, ; large, 42a43; Leghorns, 35; fowls, 32a33; roosters, 20; ducks, 15a20; keats, young, 60265; old, 35a40. Dressed— Turk 35a40; Spring chickens, 48a 50; Leghorns, 40a45; fowls, 38a40: Leg- horns, 34a35; ducks, 32a33; keats, 80a 1 .00. Meats, fresh killed—Beef, 22a24; veal, lamb, 30a: pork loins, 31a32; fresh hams, 25a26; fresh shoulders, 18a 19; smoked hams, 27a28; smoked shoul- ders, 17a18; bacon, 26; lard, in bulk, 1215} in packages, 13! Live stock—Calves, lambs, 15. Fruit and Vegetable Review. ‘The daily market report on fruits and vegetables, compiled by the Market News Service Bureau of Agricultural Economics, says: Cabbage — Supplies light; demand slow, market dull; Norfolk section, Vir- ginia, 113-bushel hampers, pointed type, 65a75; east shore, Virginia, barrel crates, pointéd type, 1.25a1.50. Cantaloupes—Supplies light; demand moderate, market firm; Califorina, Im- perial Valley, jumbos, 45s, salmon tints, 8.50; standards, , 7.50; ponys, 45s and 54s, 5.00a5.50. Lettuce—Supplies moderate: demand light, market steady: California, crates, Iceberg type, 4-5 dozen, 4.50a5.00; fair to ordinary condition, 2.50a4.00. Onions—Supplies moderate; demand light, market steady; Texas, standard crates, yellow Bermudas, mixed No. 1 and No. 2, 1.85a1.90. Potatoes—Old Stock. Supplies moder- ate; demand moderate, market about Michigan, 150-pound sacks, Rurals, U. 8. No. 1, 2.25. New Supplies heavy: demand moder- ate, market weak; North and South Carolina and Norfolk section, Virginia, cloth-top stave barrels, Cobblers, U. S. No. 1, 450a4.75; mostly 4.50. Strawberries—Supplies liberal: de- mand moderate, market about steady; nearby Maryland, 32-quart crates, various varieties, wide range prices, best, mostly 2.50a3.00; few fancy, large size, 3.50; fair to ordinary condition, 1.50a 2.25. ‘Tomatoes—Supplies moderate; de- mand light, market about steady; Florida, sixes, ripes and turning, wrap- ped, fancy count, 3.50a4.00; choice count, 2.50a3.00; some poor condition, both sizes lower. ‘Watermelons—Supplies moderate: de- ‘mand good, market firm; Florida, Tom ‘Watsons, 30-32-pound average, 1.00a 1.15; 24-26-pound averages, 65a75 each. String beans—Supplies liberal; de- mand moderate, market about steady; North Carolina, bushel hampers, green. 2.00a2.50; South Carolina, bushel hampers, green, 1.75a2.00; North Caro- lina and Norfolk section, Va., 5-peck ‘hampers, green, 2.50a3.00; few fine quality and condition, 3.25. Cucumbers—Supplies light: demand good, market slightly stronger; South Carolina, bushel hampers, fancy, 2.50a 2.75; North Carolina, bushel hampers, fancy, 3.00a3.25. ‘Squash—Supplies moderate; demand light, market steady; North and South Carolina, bushel hampers, white, 1.25a Peppers—Supplies light; slow; no early sales reported. Eggplant—Supplies light; demand slow, market weak; Florida pepper crates, fancy. 1.50a2.00. Carrots—supplies light; demand light, market slightly weaker; Norfolk section, Virginia, ’i-barrel crates, 1.50a2.00; Texas, Western lettuce. crates, 2.50a2.75. Cauliflower—Supplies very light; de- mand light, market dull; California, no 3a131%; Spring demand » | sales reported; Norfolk section, Virginia, bushel baskets, leafy, 1.00. Peas—Supplies light; erate, market steady; Norfolk section, Virginia, 5-peck hampers, some fair quality and condition, 1.75a2.50; few poorer low as 1.00. Beets—Supplies moderate; demand light, market slightly weaker; Norfolk section, Virginia, 60-bunch crates, 2.50. Corn—Supplies moderate; demand moderate, market steady; Texas, bushel baskets, 2.65a2.75; cantaloupe crates, 2.50a2.65. Asparagus—Supplies heavy, not clean- ing up; demand slow, market weak; Delaware, dozen-bunch crates, large size, 2.00a2.25, mostly 2.00; small size, 1.20a1.50. Blackberries—Supplies liberal; de- mand moderate, market slightly weak- er; North Carolina, 32-quart crate: best, 2.50a3.50, mostly around 3.00; poor condition,” 1.50a2.25. Oranges—Supplies moderate; demand moderate, market steady; Florida, boxes, No. 1, medium size, 3.25a3.50. Grapefruit—Supplies moderate; de- mand moderate, market firm; Florida, demand mod- 4 | boxes, No. 1, medium size, 3.50a3.75. PARIS BOURSE PRICES. PARIS, May 31 (#).—Prices moved irregularly on the Bourse today. Three per cent rentes, 74 francs 35 centimes; 5 per cent loan, 100 francs 85 centimes: exchange on London, 124 francs 4 centimes. The dollar was quoted at 25 francs 58 2-4 centimes. —_— Real Silk Hosiery may resume divi- dends before the end of the year. -2 Union Pac 4%s '67 Virginia Ry 1st bs VaRy&Pbs.. Whash 4%s 78 r Wabash 1st 6s. Wabash 2d bs. Wabash 55 '76 B. West Maryland 48,, 3 2 94 4 100'% 100% 9% 98% 56'a 86 100 100% ta 994 96y T8 Sk Government | BUSINESS HOLDING AT HIGHER LEVELS Industry Continues Steady Gains Despite Unfavorable Factors—Sales Large. Special Dispatch to The Star. NEW YORK, May 31.—The business situation furnished about the best pos- sible evidence of its class in the last week. It showed its ability to “take punishment” and come bac’: strong. Wheat dropped to the lowest level in 14 years. Other farm commodities were affected. This put th~ agricul- turists, who represent sometung like a quarter of the buying power of the Nation, In an unfavorable position. In addition the stock market took a stiff jolt on the chin, the punch being di- rected by the uncertainty as to action of the Federal Reserve Board. Desipte these facts, industry main- tained its extremely high pace without a skip or quiver. It failed to snort and fume with Congress over tariff or farm relief, reapportionment or questions of immigration. Retail Trade Excellent. Undoubtedly the factors mentioned above and weather and high water con- ditions in some districts had a detri- mental effect on retail sales in some sections, but in general retail trade was excellent. Clothing sales have shown improvement as Summer lines have come into demand. The only exception i3 the hoslery section, where heavy buy- ing by retailers has been delayed be- cause of fear of a bare legged vogue this Summer. Even hosiery firms, how- ever, show better profits than a year ago. KLca'.l\er and shoe lines might be more active, but they are in a far better po- sition than in recent years. This is es- pecially true of manufacturers who have their own retail outlets. Strikes at domestic rayon plants have tended to reduce production, and this has im- | proved the statistical position of rayon varns, since the threat of over produc- tion has been largely removed. The rayon demand, however, is closely allled with the cotton cloths, underwear and hosiery situation. Underwear is selling in reverse order to its size. The smaller the garment, the more popular it is. Most silk manufacturers have sold out their lines of printed silks and are working on Fall goods. The prices of raw silk seem well established. Sup- plies of wool are increasing and de- mand is not. Steel Industry. The steel mills are maintaining what is practically capacity production. They are being bolstered by the canning mand for gas line pipe and building materials. Any recession in production can be laid to failure of equipment rather than lack of demand. No im- portant price changes are anticipated. Building profects have sprung up like weeds in the last month. The volume of money to be expended on them is high above that for the corresponding period of last year. This is strength- ening the lumber business, with unfilled orders high and new business in most instances more than outweighing pro- duction. The cement producers are not so fortunate. They are turning out a huge amount of product, but prices are low and competition is such that any trade, the automobile industry, the de- | material strengthening of quotations is unlikely until the country grows up to present mill capacity. The demand for builders’ hardware and plumbers* supplies is strong. Automobile production still is estab- lishing new record. The present out- put is 50 per cent greater than at this | time last year, but competition is more | severe than ever. This is true in the foreign as well as the domestic fleld. The ~ agricultural implement makers | have been affected by the depression in the agricultural districts. Sales of aircraft are heavy, but price cutting is reported in every di- vision of the industry. The electrical equipment industry is one of the most prosperous in the country. POTATO MARKET STEADY. CHICAGO, May 31 (United States | Department of Agriculture) —Potatoes —Recclpts, 193 cars; on track, 84 new, | 256 old; total United States shipments Wednesday, 873; Thursday, 483 cars: new stock, trading rather slow; market steady; Alabama sacked Bliss Triumphs, best, 3.50a3.75; Texas sacked Bliss Tri- umphs, best, 3.25a3.5f 2.00 up: stock, trading very slow: market | Wisconsin round white, | Idaho sacked russets, few sales, | 1.50a1.60. SILVER QUOTATIONS. NEW YORK, May 31 (#).—Bar sil- 527;: Mexican dollars, 40 At g4 and 6% Interest Before Placing or Renewing Your st and 2nd Trusts Consult WELCH Realtors Loan Specialists National Savin, MONEY TO LOAN|| Partial Payment Plan Helps You Own Guaranty First Mortgage Notes and Bonds A 3250 bond can purchased on payments | of 25 monthly. " Con- start in buying these | Safe and sound invest- | Tents. | Every dollar you place | in “them earns - you 6%. | Our enormous. resources | assure_you full protec: | {lon " of “principal and | Come’ in and let us| ol tell " you more about these sound securities. | DENOMINATIONS FROM | SEND FOR BOOKLET, REALESTATE f MORTGAGE & GUARANTY | .CorPORATION «Capital Resources $3,400.000" 24 JACKSON PLACE “The Success Plan” NEW end earlier in the year. lower than any record on On the last uary, day. tween 8 and 10 per cent. business day to 8 per cent on th2 close. 30 the re: new loans per_cent. ‘The usual explanation of month end | stringency is the interest and dividend | " Probably these are not | ture of Austin automobiles in this coun- f June, | try. requirements. especially large on the 1st EASING OF CREDIT SITUATION EVIDENT Special Dispatch to The Star. YORK, May 31.—The money situation today was in striking con- trast to that existing at_any month The renewal rate today was 6 per cent, a figure the last day of any previous month in 1929. of Jan- call money was 7 per cent all On February 28 it ranged be- | On March | 28 it renewed at 15 per cent, dropping On April al rate was 14 per cent and e negotiated at 12 and 10 of | but they are as large as those orf the 1st of March. The difference is. of | course, that now the stock market is releasing _credit, whereas at month ends it was absorbing it. There is the possibility that the Federal Reserve interests believe they have accomplished, in part at least, | what they set out'to do. Liquidation lin the stock market has been forced |on an extensive scale. It would seem | that further efforts along this line ‘are not needed just now. Probably this is the reason for leaving the il’edlsl‘ount rate at 5 per cent. Motor Company Buys Land. NEW YORK, May 31 (®.—The American Austin Motor Co., Inc, a subsidiary of the Austin Automobile Co. of England, has contracted with the | Standard Steel Car Co. for a large tract of land and buildings for the manufac- DIAMONDS Are the Be Tires Ever since pneumatic auto- mobile tires have been built Diamond Tires have been pre- ferred by experienced motor- ists. They are not supplied to automobile manufacturers as original equipment, yet more than twenty-seven mil- lion Diamonds have faith- fully served motorists who have had experience with other brands. Today, as always, Dia- monds are tires of merit and distinctive from the top of that famous non-skid tread design cord! to the innermost Because of mass produc- tion, economical distribution and large scale buying, Dia- mond Tires cannot be ex- ceeded in value. Regardless of the methods used in selling or dis- tributing any make of tire, there are no better values than we offer on Diamonds. y Before you equip your car with new tires, in jus- tice to yourself, let us show you these famous tires and explain our convenient payment plans. Open A Charge Account ! Q Your Credit Is Good NEW ISSUE Class B Common Stock. dividends in any year. Intercontinents Power Antofagasta, Chile. EARNINGS continents & Co., Buenc to deduct provi Operating expenses, Net earnings ... Balance outstanding. MANACG of the respective countries E. H. Rollins divided between the Class A Common Stock and Class B 6% Debentures, Serles A, due 1948. Cumulative Preferred Stock (No Par), Class A Common Stock (No Par) (this issue).... Class B Common Stock (No Par) .. ® Limited by restrictive conditions of the Indenture but not to any specific amount. are reserved for exercise of Warrants. VALUATION: The cost of the propertics owned and under contract together with working capital and cash after present financing for the purchase of additional properties and’or other capital expenditures, in excess The combined carnings of the properties now owned or under contract of purchase by ower Company, for the twelve months ending Fcbruary 28, 1929, Aires, adjusted to_include interest at the rate of 0% on $1,500,000 c: ion for depreciation in accordance with the terms of the Indenture covering the Debentures, are as follov: Annual interest requi Application will be made to li The information contained in this advertisement has been obtained from s y 100,000 Shares Class A Common Stock DIVIDENDS ARE FREE OF PRESENT NORMAL FEDERAL INCOME TAX TRANSFER AGENT: THE BANK OF AMERICA NATIONAL ASSOCIATION, NEW YORK Company ‘in series. Gross earnings, lncludinF other income uding maintenance, local taxes, provision for depreciation and for Tres Arroyos minority interest . incl rement on 675 debentures . Annual dividend requirement on preferred stcck as shown above, and the cor and which owns the electric Mr. Theodore E. Seelye, President of the Company, has furnished the following information: ncorporated under the laws of the State of Delaware, was organized to acquire, operate and participate in the ownership, directly or through subsidiaries, of public utility properties in South America and other countries. The Company owns the entire outstanding capital stock (except qualifying shares) of S. A. Cia. Sud Americana de Servicios Publicos (an Argentine corporation) which owns or has under contract electric light and power properties located in Argentina with approximately 14,585 H.P. installed capacity and serving 24,012 consumers in seventy-one (71) communities having an esti- mated population of 444,000. This subsidiary will also own over ninety (%0) per cent of the capital stock of the S. A. Luz El tricia de Tres Arroyos having an installed capacity of approximately 4, i the Province of Buenos Aires, estimated at 65,000 having an installed capacity of 1,140 H.P, and serving 3,047 consum The company also owns the entire outstanding capital stock (except qualifying shares) of a Chilean corporation which bears 2 name similar to that of the Argentine subsidiar i Authox;ized 200,000 shares . 500,000 shares*** 500,000 shares Dividend. ** First Series, §7 as prepared b I to be esponding net earnings irom $371 ¢ derived from the electric light and power business. ontinents Power Company and its subsidiaries are under the manage= Price $25 per Share ources which we consider reliable. us s accurat & Sons Stroud, Kurtz & Co., Inc. Intercontinents Power Company The Class A Common Stock Is entitled to non-cumulative dividends of $2 per share per annum before any dividends are pald an Class B Common Stock, after which Class B Common Stock as a class is entitled to dividends to the extent of the aggregate amount of dividends paid or set apart for the Class A Common Stock as a class, but not exceeding $2 per share per annum on the then outstanding ‘Thereafter the Class A Common Stock and Class B Common Stock participate equally as classes in all further Shares are fully paid and non-assessable. In the event of liquidation or dissolution, the Class A Common Stock shall be entitled to an amount equal to $30 per share before any payment is made to the holders of Class B Common Stock, ther eafter the Class B Common Stock shall be entitled to receive as a class an amount equal to the same aggregate amount paid or set apart for the Class A Common Stock, and remaining assets shall be Common Stock equally, not share for share, but as classes. The board of directors has announced a policy, which is subject to change after July 1, 1930, that Class A Common Stockholders may at their option apply their dividends at the rate of $2.00 per share per annum, when and as declared and paid, to the purchase of additional Class A Common Stock at $22.50 per share. 000 H.P. and serving 3,5 Tn addition, this subsidiary will own two propertics located in southern Brazil in a population of 44,000. ht and power property located in the city of This property has a 3,695 H.P. installation and serves 3,318 consumers in an estimated population of 65,000. The properties purchased or contracted for to date are cither key locations at important railroad junctions or lend them- selves advantageously to the principles of central station operation, ditional propertiss after thorough investigation. CAPITALIZATION: (After giving effect to the present financing) The Company proposes to continue the acquisition of ad- = Balance before amortization, Federal taxes, etc., and Class A Common Stock dividends Above balance of $386,691 is equivalent to over $3.86 per share on the Class A Common Stock tc be presently After giving efiect to recent acquisitions, the adjusted gross earnings have increased from $1,149972 for the year ending Sep= tember 30, 1928, to $2.240,172 Over 97% of gross operating revenues of subsidiari GEMENT: The development and operation of Inte ment of Gannett, Seelye & Fleming, Inc., publi Company and the bankers have made a substantial investment in the Cl 272 to utility engincers and operators, who, with Westinghouse Electric Inter: ass B Common Stock of the Comipany. this stock on the New York Curb Market All legal matters in _connection with this fssue will be passed wpon by Messrs. Townsend, Elliott & Munson, Philadelphia, for the Bankers and by Messrs. Rawle & Henderson, Philadelphia, for the Company. passed. upon by Messrs. Edye, Roche & de la Vega, Buenos Aires, Argentina, and by Messrs ave been converted into United States currency on the basis of par of exchange. This stock is offered. when, as and if ssued and received by us and subject to approval of counsel. It is expected that permanent Certificates will be ready for delivery on or about June 12, 1929, All questions pertaining to South American Law will be Ward & Prieto, Valparaiso, Chile. While not guaranteed, it has been accepted REGISTRAR: THE SEABOARD NATIONAL BANK OF THE CITY OF NEW YORK silable after present f To be presently ocutstanding $7,500,000 30,000 shares** 100,000 shares 251,000 shares **» Of which 355.00 shares to be available of $12,800,000. the subs s of Inter- aterhouse, Faller wcing and $2,246,172 1,199,481 teeeeees $1046691 450,000 $596,691 $386,691 $1.040,091. Montes