Evening Star Newspaper, June 5, 1929, Page 13

RECOVERY IN CURB - PRIGES CONTINUES Utilities and Miscellaneous Industrials Figure in Advance. BY HARRY H. BECKER. Epecial Dispatch to The Star. NEW YORK, June 5.—Recovery pro- ceeded on the curb exchange but with frequent interruptions due to profit taking by interests who bought for sup- port purposes during the late break The utilities were again the outstand- ing features and carried their advance further under new leadership as some of the former favorites were forced to | | Sal> INDUSTRIALS. hundreds High. Low. Close. 1 Acetol Prod A 1010 30 Acoutic Prod 4l 4 4 Aeronautical Ind 1815 170 1 Aeronautical Ind war 4'2 4'z 2 Aero Sup MI A CEI ] | JlAero Sup Mf B a8 31 Aero Sup MI B new 13l 14 1 Aero Underw 36 35 8 Agfa Ansco 387 38 4 Afnsworth Mfa 5112 81 14 Ala Gt So pfd 145 ° 185 50 Alexender Industries 17'z 17 3 Allted Pack s 163 Allied P & L 2 Allied P&L 15t pfd §Alum Co Amer 3 A T pid 1 Mis 1 3 | BA&FP war S30d 1Amer Arch Co | 1Amer Beverage | IAm Brit & Con Corp | 5Amer Br ‘Bov Ei F L Amer Cigar 70 Amer Cities P & L A 239 Amer Cities P & L. B 1Am Commonw P | 43Am Cyanamid B 41Am Cyenamid B r 7 Amer_ Dept Stores 1Am Dept St 1st pf A absorb heavy offerings. Although good | 78 Amer’ Gas & FI Tesistance was shown by the American | 2 Amer Gas & E Super Power shares which moved up s0 | ] h'“gr Tr excitedly on Tuesday, they displayed | {Amer Phenix =i less buoyancy after reaching new highs | 1 Amer ol & Chem at the opening on the news that stock- A i e A holders had approved the plan to ex- | 2334 Amer Superp 5 change the old stocks for the new voi- | ~ 32 Amer Superp B ing common. Ratification was also {Amar (uvees pf. . given the plan to merge with UMY ! 13,00 pyee Shares Corporation | |3 Anchor Post Fence Strength in Industrials. i Among the stocks consplcuous on the side of advance in the electric power and light group were United Gas Im- provement, Penn Ohio Edison, Allied Power & Light, Electric Investors and Southeastern Power, all at the best Jevels so far and showing substantial recoverjes from the eflects of recent realizing. Consolidated Gas of Balti- more was also higher In the face of | denial of a report that it contemplated | a merger with Pennsylvania Water & Power. Central States Electric was not noticeably affected by the increase in the quarterly stock dividend of AmrrI-{ can Cities Power & Light “B,” which company it controls. i Considerable strength was witnessed | in a variety of miscellaneous indu trials. Checker Cab, in further appre- | ciation of the excellent first quarter | statement, rose sharply, and interest | revived in Marconi International | Marine in optimistic reports from the | safety-at-sea conference in London. It opened 2 points higher on a transaction | of 11,600 shares and made further im- | provement later. Canadian Marconi | was not much affected, however. There Was a fairly active demand for Thomp- | son Products, which is expanding its facilities to handle increasing business, | while insurance . shares and utilites equities were helped by good earnings statements The movement in the oil division lost much of its momentum, due to the in- crease reported in production for the week ended June 1. Humble was weak, on conflicting news regarding the deal with Standard of New York. Negotia- tions in that connection were unofficial- ly said to have been broken off early in the week, but Washington advices today stated the meter was still pend- ing before the Department of Justice. Standard of Kentucky, which has been a_disappointment for some time, prob- ably due to the lack of speculative in- | terest, displayed moderate firmness. | Specialties Advance. Standard of Indiana held most of the recovery from the record low due to covering. There has been no change in the situation with respect to a mer- ger with Pan American Petroleum. Aviation, metal and motor issues fluctuated frregular in quiet trading. Some speculative buying carried Noran- da several points higher. Higher-priced specialties, like Aluminum Corporation, Deere & Co., Great Atlantic & Pacific Tea and St. Regis Paper, advanced. WHEAT CLOSES LOWER. CHICAGO, June 5 () —Despite an- nouncement from Washington that Sen- | ate and House conferees had finally agreed on all details of a farm relief measure, eliminating _the ~debenture | plan, wheat prices averaged lower to- | day. The Washington news helped to | bring about_transient rallies in prices, but apparently had been discounted in advance, and upturns met with aggres- sive selling. At times, the market showed breaks of more than 3 cents a bushel, largely on account of unrespon- siveness which the European market | displayed concerning advances here. Wheat closed nervous, 15 to 3's met | Jower, corn 1% to 25 down. oals % to 1% off and provisions varying from 2 decline to a rise of 10. | WHEAT — Low. Close July 1064 September 11043 December i 118! NEW YORK. June 5 (Special).—A ! reactionary grain market caused l.n“ easier range of cotton prices today.| Selling pressure was moderated by | weather news. A setback of $1 a bale | at onm time attracted enough covering to steadv the market. The list ended | ab-ut 10 points lower on the day. Spots ! were reduced 10 points to 18.95. Cotton range Low. Close July 1847 1862 October 1870 1874 October. new 1865 1878 1881 1894 RS 1596 | 1902 1a10| 1907 1217 Exchange of Stock Approved. NEW YORK, June 5 (#).—Stock- holders of the American Superpower Corporation have approved plans for ex- change of class A and class B common stock for new voting common.stock. on the basis of five new shares for each old | A or B shere held Merger of the Utility Shares Corporetion with the American Superpower Corporation has been approved by stockholders of both companies. | Stack Split-Up Planned. NEW YORK. June 5 (#)—Stock- holders of Royal Typewriter Co. will meet July 1 to vote on a proposal to split the no-par common stock two for one. GRANT CO. SALES UP. NEW YORK. June 5 (#)—W. T Grant Co. reporls May sales of 5,088.969, compared with 4.096.002 in the same month of 1028, an increase of 24.24 per cent FEDERAL LAND BANK BONDS. NEW YORK, June 5 (Special) nd Bank 4s May 1058-38 Bid Land Bank 4V Land Bank 4'2s J.&J. 19550p36. Land Bank 4}as Jan. 1956-36 Land Bank J.&J. 19550033 4%4s J.&J. 19530p33 SILVER QUOTATIONS. NEW YORK, June 5 (#).—Bar silver, 521 ; Mexican dollars, 39> y 3922, 1T AnEie RN T nglo itra 12 Apex EI 3 6 Arcturus Radio T . 11 Arizona Power 268 Atk Natl Gas Gas A 4 1 Gas cum pf 2 Armstrong Corp 1As50 Dve & Print 0 Asso Eiec Tnd B A 04550 GRE deb ris 3 Asso_Rayon pfd Atl Coast Fisheries S AU Fruit & Suk.... 2 Atlas Lite Pw 1AUas Blywood 8'Auto Vot Ma cv pr pt | _8Aviation Co'of Am | 57 Aviation Corp | “1Blauners ... 2 Blaw Knox n 4 Bohack M C Co 4Braz Tr L & P 5 Briggs & Stration. | 2 Bright Star Elec A 3 Bright Star Elec B 1Brill corp A 2 Brillo Mfs A 55 Brist Myers 6 Brit-Am Tob reg 7 Brit-Celanese Lid 2 Brown Pence Wire A 5 Bklvn City RR 1 Bruce 4 2 Budd Mfs 1 Bulek Stk “Mills TBuf Niak & EP . .. 74 Buf Niag & E P AL 2Buf N & E P ptd 2 Bulova *Watch “pfd 7 Burroughs A M n 11 Burma Corp 4 Butler Bros 2By Prod Coke n 2 Cable Rad Tube vic 201 Can Marconi W 19 Capital” Admin £l 1 4 Cent St El cv pfd xd 2 Cent Sta Fl pf ww xd 4 Chain Store Stock . 83 Check Cab Mix . 28 Gities Ser n . Cities Ser s7d Cities Ser pfd Cities Ser B ‘ City Mach & Tool ... Clark Lighter A . Qlub Alum Uten ... Colg_Palmol P 1 2 1 1 1 1 3 5 7 Consol G B 5 Consol Instru . 2 Contl Diamond 2 Cooper Bessemer 3 Cooper Bessemer pf A 5Corroon & R . 5 3Corroon & R pfd A 11 Crocker, Wheeler .. i Crosse & Black pfd.. 3 Curtis Aero Exp .... 62 Curtiss Afrport vt ! 28 Curtiss Flying Serv Davega Inc .. 2 Davis Drug allot ctfs izl < 1Duz Co A 8 Fast States Pow B.. 3 E 10 Etsier Elec . 675 El Bond & Sh 1El Bond & Sh pid.. 4B Invest Ine 2 El Invest Inc pi 10 EI P & L opt! war 2Em Pow Cor . 8 Evans 'Wall Lead 1FPabrics Finish 1 Fageal Mot Co 3 Palrenild Aviatn A .. 4 Fairehild Aviatn A ris & Pandango Corp A 2Fed Metals ctf 1Ped. Screw...... ..l 12 pederal Waiei A’ erra’ Enamel A 2T Fac rets oo 3, Firestone. Tire 41 Fokker Atrp ‘Am 14 Foitis” Fisher, ... 15 Pord Mot Co 'GatiAn 1Pord M Co Can' B n 1 Ford M Co Can. fts 1 Ford Motor Lt oremost Dairy pid. . 79 Fox Theaters A 1Erank (H H) Mg €o 11 Preshman Chas Co 2Gen Alloys.......... 18 Gen Bakink 4 Gen Baking pid 2 Gen Cable war 49 Gen Elec Ltd rex is Gen Elec Co Ger 18 Gen Fireproofing n 4Gen Laund Ma 23 Gen Pub Ser 4 Gen Resl & Uiil Co 10Gen Real & U C pfd 11 Glen Alden_Coal 31 Gold Seal Elec n 21 Goldman_Sachs n 5 Gorham Mfg rts cash 3Gorham Mfg rts ur 5 Gotham Knitbee M 25 Gramaphone C L rcts s Gr A&LP T C non-vic 1 Grigsby Grunow n 1 Hall Printing . 8 Happin C St A 27 Havgar: Corp 5 Hazeltine Corp 58 Hiram Walk G&W 1 4 Household Pinance pf % Hygrade Food Prod 1 Imperial Tob 1Indust Finance cif 1Insur Secur . : 14 Insur_Shares ‘A’ ‘wi.. 20 Intl Project n 11Int] Saf Raz B Int'l Shoe . Intern Utl A Intern Util B Intern Ul pf Intern Ut war nvesiors Equi 3 Irving_ Air_Chute Superpow A ... 1Ital Superp deb ris 5 Johnson Mot 1 Karstadt R 1 Ken-Rad Tul 3 Kermath 9 Keystone Airera 2 Kleinert Rubber 2 Kolster-Brandes 1 Lazarus 2 LefcouRexi pid 2 Leh Coal & Nav 2 Lerner Stoves 3Ley Fred T 4 Libby McN & L'n Long Isl Lt Long Isl Lt pfd ) 3 2 i i 1 Mangel Stores Mannins Bow A . arconi Intl Mar Memphi 0 Merchants Mfrs A 4 Merriit Chap & 8 TMernt Gnap & 8 bf iMriro 0 M. ‘iand Roval ev pi | "1 Migvale Co A ] Mid' West Utii ! @Minne Hon Reg [ 8Mnn Mol bow tmp 1 2 ] i 1o { inn M'P_Imp cv Mitsouri Kan Pip Missouni K Pip L rts. Mohawk Hud Pow.. Mon Hud Pow 1st ‘pi Moh Hud Pow 2nd p Mohawk Hud war Monong W_Penn pi Montecat deb rts Nat Aviation Nat Bancserv ¢ Container Container El'Fow Fam® Btis. Fam Strs i Fooa Prod B Siore wi pf Wh 186 N S e jiH 284 98% % 2 39 46tz 31 100 2927 4810 0 30 24 19 2910 487y 7 il & 6% 22 u 3 s 14 6% " 88% 3 @0 127 _12% 249 5l 23 18% 18 Bl 88 Ll 20 184, i 01 i 3. “ Fr Lo 139% 139% 1 4000 prigii L. 333 514 106 10: 89% 23 515 2713 314 63 62! » 1007, 1004 01 " 01 i 62% | 14 s 33y 4 o 3% | Bx livisy 3 o o i 1 | 2 i 3 1 15 Pi 9P 2 pit 2 Pr 2 8 St. 38 18 18 Tr: 1 v 14w w Wi 20 W 3 3 Fi 7 Ur 2 Al 1Ar 3K 12M 1M 1M 300 11 1400 Imp O Can'n 100 § >>>> 25 A 17Tob & 2 Roan 3 Cons 105 Creole 1Crown Cent Pete 9 Darby Pete 20 Derby Nat Salt or A 10 North Am, U 2 Nor Am T\ 1st pfd North Eastern Pow Nor Bta P A Northwest i St range lot tney 2 Pitish_& tis S rop 3 Roosevelt ! 1 Root Rfg Cv pr pid . 14 Royal Type 12¢ 14 Safeway Stores 2 war 4 38 St Regis Paper 1 18ec Gen Am Inv 18ec Gen Am Inv 1Segal Lock & Hardwe 4 Selected Indus Inc... 4 Select Ind Inc pfd 0 Sentry Safety Control 1 Se1/ . 9 Sheafler Pen i 2 Sikorsky Aviation . Gel cts E liea 2 Silver 1 Smith Co_(AO) i Sonatron’ Tube 122 Southeast 1 Southe P&L b pid 102 Southe P&L war 1 South_ Asbestos 28ou € 18ou C E C pfd 2 Sou Rovalty 18ou Grocery 2 Spanish istand Inv 2Stand Mot 2 8tand Stl_Prop 3 Starrett Corp Stein Cosmetic Sterling Sac ofd a'lot 2 Ster 8 pfd allot A wi 18tern Bros A : 4 Sterl Sec pfd wi 1Stinnes Hugo 1Stromb Carls Tel Mot 17 8wift Inti. .. wift & Co s Am Ei pfd . 78vra W Mach 6 Taggert Corp 1 Tampa_El 1 Tenn Prod 11 Thermoid 3 Thomps Prod A 2 Tishman Realty & C.. Allied 8. 1. Tol Ed cum pfd 127Tol Ed cum €' 2 Transcon Air Trsp 8Trans Lix DL P 8 2 Travel Air Co.. 146 Tr! Cont Corp 8 Iri Cont Goi 3 ¥runz Pork Stores. 2 Tung Sol Lamp... 4 Tung 8ol 1 Tung Sol L A ur. 2Union N G Can 7 Union_Tobacco utz n C an C adiy m A ity Enere ock A Crush Quthoard Mators Qutboard Motors s sec td_Motor n wi 12 Param Cah Mg 1Patterson Sarg Co 2J°C Penney & Co iPenn G & 28 Penn Ohio Ed '4 Penn O Ed p pfd 1 Penn Oh Ed optl war 6 6 Penn Ohio Ed B war 1Penn Ohio Ed u 1 2 Penn Wt P C | 239 Pennroad Corp vic | “1Peop Drug Store 1Peop Lt & P 12 Perfect 7Perryman_ Elec 0 Peirol Corp ist pfd 2 Philip Morris 2 Philippe 1Pick Bar & Radio El A Circle (Lo Bowes P. Lake E & Bolt 1Pratt & Lamb ik Hos Mii 10 Prudential Inv 'y Pug 8P & L ptd iPyrene Mfe I Rainbow Lum B A 1 Rwys & Exp Co n.. 8 Revbestos 8 Reliance Brass & St 7 Repetti Candy e 1Rep Mot Trk ctfs 2 Reynolds Melal 5 Reynolas Met pt 1Rich Rad 18 Roch Cent Power 3 Rockland L&P Co 1 Field 1 vie & Bros E B pfd A & Gen m L A P8 Pk 1d .. um_ Alfi”l 8 C alit & Bopd A atson rst nit len &0 irby 1 Leonard Oil 4 Lone Star G Del 2 Lone Star G agdal 2 Mexico Ohio ount ount Fuu B Lol 1linois 100 Imp O Can 100 Indiana P 200 Int 800 Nat Transit 1400 Ohfo "OM ...01000 200 Penn Mex ‘Fuel 200 South 500 Southern 35008 O Indiana 600 8 O Kansas 1000S O Kentucky n Ohio 403 Vacuum ' Oil ) m Ga ppal Pet J vayne Pump_ . estern Alr Exp. estern Alr. Whitenight Inc 7 Winton Eng Co 3 Widlar Food Prod 1 Winter B J........ 10 Zenith Radio . 2 Cresson Con Gold. .. 1End Gld M Ltd Inc 193 Falcon Lead Min Natl Copper 11 Gold Coin ... 4 Golaen Center M 2] Hud Bay Min & Sm 11ron Cap Copper.. 9 Mason e €Min Co Can. § Metal & Mng 3 Mohawk Min . 19 Newmont Mining 116 Noranda 261 Onio Cop - 1) Premier Gold M Antelope Cop 25 Roan Antelope ris 12 Shattuck_Denn 180 Am Gold & P . 3 Tech Hughes $Uni East Min 21 Uni Verde Ext 2 Uni Zine Smelt Gold 14 Wendon Cop . 1 Yukon Gold oil 1Am Con 2'Am Maracaito Co oil 1Carib Synd 63 Columbia_Svnd Royaity Val Oilfields Pete O & Ref 1Em G&F 85 cum pfd 108 6 Gulf Oil Pa ... 28 Intercont Pet Pet Dn Synd..... Gulf Prod el Gas radford O N Y Pete Roy Pac Western Ofl Pandem O\l Pantepec Oil Creeic Cont Salt_Creek Prod Transcon OIl pfd 5 Veneruelan Pet 1 Woodley Pet STANDARD _OIL, SUBSIDIARI! 500 Anglo Am Ol xd.. 500 Atl 1200 Cont'l. OIl bos o o 3 ol n & R T 1 Ltd Penn P L o gre Cor s & TAM P & L x 2016 10Am Roll Mill 8s El Pow 5¢ AATk P & L 85 ‘56 25 Asso G & El 41,8 1A GAEI 8158 11 3As Sim Hard 61,5 Foltiss &L S “rin ‘0128 ation Corp A o0 pfd Tube Pkl Fets pfd Exp i 167, 241 Sec A B 28 10374 1 201 A A Rocs. Svas gy oid 23 58 2814 fd 10712 107 a1 923, 213 s 5370 2Unt Carbon vie. 5Uni Chem pr pfd 5 Uni Drydock 7 Uni Elec Bond ris 2 Unt 24 Uni 113 Unt 42 Uni 2460 Uni G 2 10ni L & P A prd 105 13 Uni Piece Dye Wks & 407 11 Uni Piece D W pfd . 104 4Uni Pub Ser 18V 1Uni Retail Chem pfd. 22'4 5U'S Asbestos . bt 10U S Foil B 633 4U _& For Sec 5614 10U 8 Frelsnt of Dol #1% U 3U 179 wi m Commonw 6s 44 99': E 55 2028 044 105% 48 9615 56 4012073 7d 103 88538 IEEREE% 3500l P 20 2 Zonite ... Sales in MINING STOCKS. hundreds. 15 Ariz Globe C........ 1Carnegie Metals § Com Tun & Drain n 24 Cons Cop Mines NEW YORK CURB MARKET ISSUES AND FORMER STOCKS. % Lirancs 58%4 centimes, _ TON D. C., WEDNESDAY. Received by Private Wire Direst to The Star Offies 1Garlock Pack 6s 15 Gatineau Bow | '3 Gatineau Pow 65 6 Gen Ind _Alc 8' | 20 Georgia Pow_ 3s | 1G YT &R C5las ‘31 i 5 Gr Trunk 6'as '36.. 8 Guie Ofl Pen 8 137 Gulf Oil Pen 5s ' 0 36 1 1 i 30 Gulf & Ut 58 A 83 Harpen_ 68 ‘4 : Hooa b 5133 138 7 Hous Gulf G 8'as 43 Hous Gulf G 8s'A 143 I Pow'a T 8%8 137 Ind Ol & G 63 '3 ind P& L Ss A 37 41nt Pow Sec % E 87 Interst Pow o5 /52 4 Iy Cor "Am 55 A" 47 91 4 Keluin Corp 673811 01 | IKop Gas & ‘Coke 3s 47 963t 21 Lehigh Pow_ 8¢ A 2026, 1041a % Louts Pow & Li 557 91% 4 Manito Pow 5728 A ‘51 100 3 Mass Gas 8130 48.. . 10 4 Memph Nat Gns 68 43 97 8 M°Ed CoPa 4138 D ‘68 96 P Muwaukee Gas 4132 61 91 SNl PE LSS el 8 3 Mont L “Ha'Ps A 9 Mun 88 Line 6158 13 Narrag Co_5s A of '57. 13 Nat' Pub Bervs 78 13 Nat ‘Rub M 65 43.. EN'Y P L 4% 6] 0N Y &F T80 A € Nor Sia P M 828 33 1 Ohio_Fow 55 '83'B 5Pac G & E Alys E 57 20 Phc Wn Oil A1zs '43 3P O Ed 65 A" 50 ww 1 Penn 0 Ed 8138 80 B 15 Peoples L & B 8y 19 2 phita B P 3512 5 Phila Rap Ti 85 82 & Potomac B4 5 E '36 T Pow €N ¥ Sizs 47 JRell B Y A It 1 1 2 | 30 | . 4 81y 155 0 Richfld Oil ‘6s A 1 Scripps E 3 9 38ha W & P 4125 A 8T 0 22 Southe P&L 6 A 2025 102: 28ou Cal Ed 55 '44; 58ou Cal Ed 58 8 South Cal G 58 4 Southw G&E 55 A ‘57 12 Southw P&L 65 A2022 101 9313 3 Staley Mk 68 82 42 58tand P& L 63 '57 s 4Sun Maid Rais6las'dd 60 oil 5 Sun 88witt 56. . 2 Thermold _ 65 . 5Ulen & Co 633, 36 4Uni Lt&Rail 51354°52 4Nni Lt&Rail 8sA'32. 5las "39. .. 100% 33, 993, 11 Western PowsiasA 3 West Pow 5'28A'37 Sales in FOREIGN BONDS, thousands. 3 Asri Mor B 78 8 Baden s '51.... 65 789 Ry 10 Berlin C E 1 Buenos Aires -1 3 Cauca_ Valley 7s 48, 7Cent Bk G 8 63 B '3 10 Com & Pr Bk 3'4s '37 1 Dansig Port 6las 52. 8 Elec Pow G 6las '53. 5 Ercole M_EM 6135 '53 6 Finland R M 65 61 106 Free St Prus 6s '52.. 20 Geisen Min 65 '34. 2 Ger Con Mun 7s '47. 32 Ger Con Mun 65 '47. 27 Hamburg E 5las ‘38 11Indt M Bk Fin 7s 2 Isarco Hyd El Ts ' ilsotta Fraschi 7s 16 Ital Superpow 6s 15 Jugosl S M Bk 7s 3 Mendoza 7'as 'S 6 Mor Bk Chile s 1 Muni Medel 7s E' 1 Netherland 6s B_° 23 Nippon El 6las ' s Parana_7s 'S8 26 Ruhr Gas 6'zs A 'S 38 Rumania Inst 7s ‘59 20 Russ G 6'as '19 cfs n 4 Saar Basin s '36 28anta Fe City 7s '45 18antiago 7s 48 € 8tinnes H 75 '46 wa 85'3 2 Swiss Gov 8las 29 10 Uni EI Serv 7s A 36 1 | B4UniFlS7s A ww '56 8l 18URi St W 8las A’ 47 91 xd—Ex-dividend wi—When issued n—New. ww—With warrants a1 204 || Commodity Notes Special Dispatch to The Btar. Retail Trade. NEW ORLEANS, June 5.— Sales at | retail have been falling behind those of | last year. The weather is held ac- | countable for this, for the largest drops ;}u\'e been in women's clothing and mil- nery. HELENA, Mont. — Montana is suf- fering somewhat from & shortage of The ranges are normal for the season of the year, but growers complain the reservoirs are not filled. Meadows are being irrigated. | e ! Live Stock. | | mosture. | | | Shoes. | ST. LOUIS.—The boot and shoe fac- | tories are running at around 90 to 95 | per cent capacity in many instances. | Sales have fallen off a trifle, but stocks | are low and there is a tendency to re- plenish. Milk. OTTAWA, Ont. — Retall milk prices have been cut 1 cent a quart as a result of the new agreement between producers and distributors, whereby the former will receive $2.20 a_hundred pounds at ;‘:’%oflm‘ against the previous price of Steel Scrap. YOUNGSTOWN, Ohio.—Prices for heavy melting scrap is considerably weaker than two weeks ago, with the market now ranging from $17.25 to $18, against & range of $18 to $18.50. Black sheets are now priced at 2.95 cents, galvanized at 370 cents, full finished sheets at 410 and 4.20 for metal fur- niture, Wool. clip of the Schreiner Wool & Mohair Co. at Kerrville, Tex., totaling 2,500,000 pounds, has been sold for $800,000. The | buyers 'were from Boston and Phila- | delphia. Prices ranged from 29 to 33 cents per pound. The prices were | below last year's sale, though the clip was exira good and’heavier than in CHICAGO LIVE STOCK MARKET | _CHICAGO, June 5 (®) (United States Department of Agriculture) —Hogs— Receipts, 20,000 head, including 5,000 head direct; mostly 10 higher; weighty butchers, 10a15 higher: top, 11.00 for two loads of around 190-pound weights: bulk of good and choice 160-270-pound averages. 10 50a10.90; butchers, medium to choice 250-300 pounds, 10.10a10.65: 200-250 pounds, 10.25a11.00; 160-200 pounds, 10.00a11.00; 130-160 pounds, 9.75810.90: packing sows, 9.00a9.75: pigs, medium to choice 90-130 pounds, | 9.25810.50. Cattle—Receipts, 9,000 head: calves, receipts, 3,000 head; strictly choice steers and yearlings scarce; strong: others weak "to 25 lower; early to medium weight steers, 15.10; slaughter classes, steers, good and choice 1,300~ 1,500 pounds, 13.60a15.25; 1,100-1,300 pounds, 13.60a15.25; 950-1,100 pounds, 13.50a15.25; common and medium, 850 pounds up. 11.00a13.75; fed yearlings, good and choice 750-950 pounds, 13.508 5.25. Heifers, good and choice, 850 pounds down, 13.00a14.75; common and me- | dium, 9.50a13.00; cows, good and choice, 950a13.25; common and medium, 8.00a 975; low cutter and cutter, 6.25a8.00: bulls, good and choice (beef), 10.00a | 11.50; “cutter to medium, 7.75a10.25; | vealers (milk fed), good and choice, 10.00a15.00; medium, 9.50a12.50; culi | and common, 7.00a9.50: stocker and feeder steers, good and choice (all weights), 12.25a13.25; common and medium, 9.75812.25. Sheep—Receipts, 12,000 head; market | active, strong; yearlings slow, weak; native lambs, 16.00a16.05; yearlings. | steady, 6.0026.50; fecders unsold; lambs, good and choice, 92 pounds down, 15.50a 16.60; medium, 14.25a15.50; cull and common, 12.25a14.25; medium to choice, 92-100 pounds, 5.75a7.00; ewes, medium to choice, 150 pounds down, 2.50a5.75; cull and common, 12.50a13.6 o PARIS BOURSE PRICES. PARIS, June 5 (#).—Prices were firm on the Bourse today. ‘Three per cent rentes, 74 franes 50 centimes; 5 per cent loan, 100 francs 50 _centimes. centimes. The dollar was quoted at 25 9 + |Reparations Payments Are | and principal together. FORT WORTH —The Spring wool ; 11.50a12.00;some held higher; fat ewes, | Exchange on London, 124 franes 4 ° BIG SLASH N DEBT WON BY GERMANY Reduced From 33 to 9 Billions. BY JOHN F. SINCLAIR. | Special Dispatch to The Star. | "NEW YORK. June 5—After three months of hard work, during which time Great Britain's chief representa- | {tive, Lord Revelstoke, died of heart ! | failure, the reparations conference has| closed its deliberations in a blaze of glory. ! " Briefly, Germany's reparation debt | has been reduced from $33,000,000,000 | |to $9,000.000,000, & real drop. It may be even more than that, for the final reparations plan of Owen Young, which | was adopted, provides for an average | annuity to be paid by Germany to the | | allies of 2,050.000,000 marks ($487.000,- 1600) over 37 years. This is for interest | Thereafter, for | 211, years, Germany is expected to pay | | $408,000,000 annually, in order to meet | | exactly the allied debt to the United | | States. But_of the total amount to be paid_annually, only 660,000,000 marks ($157,080,000) is the fixed, constant sum ) | that must be paid. The balance, 1,390,- | 000,000 marks ($330,820,000) is to be| | paid providing Germany is able to pay it. | In other words, Germany will pay | this additional amount if she can. The test is whether by attempting to do she | debases and demoralizes the interna- | tional mark exchange. So, while the reparations are settled the only amount that the allles can| commercialize is about 500,000,000 marks | $119,000,000) over a period of 37 years. | This fact it is well to keep in mind in future discussion of the reparations problem. Should the United States ever change heart and cancel any part of the debts | owing by the allies, two-thirds of the total reduction will go to reduce the | German payments and one-third will go | for the benefit of the allies, | “Only one problem is left unsettled The Belglans contend that 6,000.000,000 paper marks were cashed in Belgium during Germany's possession of the country, while Germany asserts that its army only left one-third of that amount, nominally only $500,000,000, while the remainder, or two-thirds, was brought into Belgiim by speculators. Germany belleves she “shouldn't be made to pay this two-thirds. Belgium | insists that she must. Dr. Schacht, chief German delegate, pledged Bel- glum that Germany would reach an accor with dBelgium on this question. So for the present, at least, the prob- lem of reparations has been brilliantly solved under the leadership of Owen D. Young. More than any other man in | the conference, he brought the experts | back again and again to a working | plan after it looked as if the whole | conference was hopelessly smashed Young was ably supported by his American colleagues, but great credit | is due to three other men—Sir Joshua | Stamp of England, who wrote a large part of the final report, as he did the first Daes wplan; Emil Moreau, the tactful governor of the Bank of France, and Dr. Hjalmar Schacht, the iron- willed president of the Reichsbank. When J. Ramsay MacDonald, 62, takes over the British government in the next few days, Philip Snowden, chancellor of the exchequer in the last MacDonald cabinet, will probably | be_in charge of the country's finances. | _ What wfi] this pale little man with | the dark burnirg eyes do about the Bal- | four note? This frail, delicate states- | man to whom the British Labor party looks as the champion of their fiscal policles. It is probably true that no British statesman since the days of Gladstone has shown greater ability in discussing _the “so-called” dull and deadly problems of finance and taxation than has this Labor leader. But during the campaign just closed he thoroughly condemned the British settlement of its war debts with the United States, de- claring that there should be a revamp- ing of the whole war debt settlement. Philip Snowden, 65, entered the gov- ernment service as a clerk at 22, and remained as a clerk for seven years. At 29 he quit that and went into journal- ism and lecturing, specializing particu- larly in subjects dealing with fiscal mat- ters and the tariff. He was chairman of the Independent Labor party from 1903 to 1906, and again from 1917 to 1920. | 'The steadying hand of Scotchman MacDonald may hold Snowden from taking an extreme position on the war debt settlement with the United States. But, maybe not. If not, the war debt settlements may be anything but settled. (Copyright, 1929. by North American News- | paper Alliance.) CHICAGO DAIRY MARKET. CHICAGO, June 5 (#.—Poultry, alive —Pirm; receipts, 2 cars: fowls, 20a30: broilers, 40; roosters, 20; turkeys, 22a30; ducks, 20a25; Spring ducks, 28: | geese, 15, Butter—Lower; creamery extras, 42 ! receipts, 9.585 tubs; : standards. 42';; extra firsts, 41a42; firsts, 393.a40'z: seconds, 38a39. Eggs—Higher: receipts, 17.162 cases extra firsts, 20'2a30; firsts, 20; ordinary firsts, 27a28; storage packed firsts, 30';: storage packed extras, 31. | Dividend Omitted. NEW YORK. June 5 (#)—Directors ! of Acetol Products, Inc., have omitted the regular quarterly dividend of 60 cents a share due at this time on the class A stock. $3,000,600 Airport Planned. NEW YORK, June 5 (#)—Immediate construction of a $3,000,000 airport on a site adjoining Pelham Bay Park, on the outskirts of New York City, is planned by Curtiss Afrports, Inc. | The new paper currency is on ex- hibition in all the local banks, $1, $2, $5 and $100 denominations. The smaller sized bills are now expected to go inte circulation on Jul; ment that is } always ABOVE PAR: * HOOD TIRES. | | i Business Notes By the Associated Press. NEW YORK, June 5. 7Emp]n,\'ment<‘ in Cleveland during May increased 0.7 per cent over April and 11.6 per cent| over May, 1928, to the highest level | since compilation of index figures was started in January, 1921. The total melt of 15 sugar refineries | in this country from January 1 to May 25 was 2.020,000 long tons, compared with 1,760,000 tons during the same period in 1928. | Autosales Corporation has installed | 28,700 new type of 5 and 10 cent vend- ing machines since their production was started in November, 1928. The | company plans to have 100.000 in oper- ation by the end of the current vear.| May sales of Federal Bake Shops. Inc, were $362,804, compared with | $317,664 for the same month last year. | Receipts for the first five months total | $1.856,954, an increase of $207,370 over | the corresponding 1928 period Wheatsworth, Inc., has been placed on |an annual dividend basis of $1 by the declaration of 35 cents a share pay- able July 1 to stock of record June 20 Net earnings for 1928 were $410,759 equal to $2.68 & share on the common. CAN S FORECAST I RADO NDUSTRY Billion-Dollar Year Seen as Producers Improve Qual- ity of Sets. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, June 5—A billion dol- | lar year. That is what the radio in- dustry is looking forward to in 1929. | Retail sales so far this year have gone | | forward at such a pace that all records | are sure to be eclipsed. This conclu- | | sion is supported strongly by leaders of the Radio Manufacturers’ Association now in session at Chicago. Herbert H.| Frost, president of the association, pre- | dicts that a total sales volume of $800,- 000,000 is virtually certain, with a dis- | tinct possibility that the mark may ex- ceed one billion. Replacement Factor. | The manufacturers say replacements is the main factor in the present sales | situation. Only 4,000,000 of the 12- | 000,000 receiving sets now in operation are of the modern alternating current electrical type. The advantages of the | new sets, thousands of which now are on display at the Chicago meeting, are | leading to heavy replacements of old | equipment, and this is & factor fully as important as new buying, if not more so. The one chief danger which the in- dustry has to fear, according to many discerning dealers, is that the buying public_will become imbued with the idea that the industry has some new and startling developments “up its sleeve.” Some prospective buyers are holding off waiting for these improve- ments and developments just as many automobile purchasers hold off “until they have seen the models at New York, Chicago, Detroit, Atlanta and San Francisco automobile shows. The radio industry so far this year however, is offering little that is revo- lutionary, although distinct improve- | ment in the design and appearancc FINANCIAT. of the sets have been noted. The radio is a picce of furniture as well as a receiving set and the modern house- wife recognizes it as such. There is a trend toward the screen-grid tube and automatic tuning devices are be- coming common on the newer type sets. One maker has brought out a remote control set by which the receiver may be tuned in from any room in_the house. Dynamic speakers also have shown marked popularity. It is noticeable that the manufac turers who depend on mass production are naming even lower prices, and sets now are in a popular price range that is expected to draw them into the 24,000,000 American homes which are still without radio facilities —the feminine half. Pig Iron Production. |and rate per da reached. Tmprovement in Sets. There has been a decided improve- ment, not only in the minor points of technical construction, but in the furni- NEW YORK, June 5 | featured and the appeal is made to that | side of the family to which many | trace the buying direction of the Nation NEW YORK, June 5 (®.—Pig iron | production in May established a new monthly record for both total output Iron Age reports. Blast furnace returns show a total of | 3,898,082 tons made during the month and a daily average of 125745 tons. ' compared with 3867694 tons and a daily rate of 124.764 tons in May. 1923. when the highest previous figures were New Gasoline Station Chain. (). —Aq from Pittsburgh say that Standard Oil dvices ture arrangement. All of the sets Co.of New Jersey has entered the Pitts- attaining popularity today are of a type | burgh district as a competitive factor which could add distinction to the through its recently formed Standard furnishings of almosi any home. while the higher priced sets have a_ distinc- five beauty which enhances their ap- peal tremendously. Period designs are ! stations Llneln Knicker HO said the dollar was a mere shadow of its former self? Not when $3.85 will buy knickers as fine as these Spalding knickers. Made of real flax linen that takes many a tubbing without losing its freshness or crispnese. Amply pocketed. Fullcut and made by tailors who like to be able to point with pride at everything they do. ’ ’ Spaping ImPorTED GoLr StockINGs in weights for linen knickers. $2.50 up. SpaLpING DROMMIE GoLr SHOES have spikes thatcan’t - ess up or work loose. $12. 1338 G Street N.W. Oil Co. of Pennsylvania, which is open- | ing a_chain of gasoline stations and tablishing a system of bulk distributing Effective June 9th- 63 Hours and No Extra Fare 5 hours shorter time Chicago to San Francisco and the Pacific Northwest. 2 hours faster to | Denver. Effec- N[ tive June 9th. (t Overland Route West Chicago &NorthWestern-Union PacificSystem » losAngeles Los Angeles LIMITED Just as fast, just as fine—but now a no-extra- fare train. The $10.00 extra-fare charge has been dropped. Barber, maid, valet, bath. All- Pullman train. Ly. Chicago (C&NW) , . 8:10p.m. Ar. Los Angeles . . . . 910a.m. Continental LIMITED Another convenient train with observation car; drawing room, compartment, standard section Pullmans; tourist sleeping cars, chair cars. Dining car—68 hours. Ly. Chicago (C & N'W) Ar. Los Angeles . . . Gold Coast LIMITED Observation car; drawing room, compartment, standard section Pullmans;tourist sleeping cars and chair cars. Dining car—68 hours. Lv. Chicago (C&NW) , . 2:30 p. m. Ar. Los Angeles . 8:30 a. m. Ask about Low Summer Fares For complete information, epply UNION PACIFIC or CHICAGO & NORTH WESTERN 508 Commercial Trust Bldg. 201 Franklin Trust Bld, ta. 15th and Chestnut Sts. Philadelphia, Pa. 11:20 p. m. 5:30 p. m. & w48 g 276-AA