Evening Star Newspaper, July 12, 1929, Page 12

12 UTILITIESFEATURE | [NEW YORK CURB MARKET ADVANGE ON CURB Market Surges Forward Un- der Influence of Light and Power Issues. BY HARRY H. BECKER. Epecial Dispatch to The Star. NEW YORK, July 12—Running parallel with the advance on the big board, utility stocks surged upward on the Curb today. Volume was large and gains were almost universal in this part of the list. Besides the encouragement given to operators by the drop in brokers’ loans there was more gossip of control and new groupings of both holding and operating light and power companies. Electric Sharcholders was among the features. It had made a new high on and extended the gain sen- y today. The common at 65 up more than 12 points and the preferred at 160 was up over 30 points. Each share of preferred carries a non- detachable warrant entitling the holder to buy one share of common at 20 after March 1, 1931, which provision explains the strength in the senior issue. Earnings are estimated at $4 a share on the common. Middle West Utilities, a stock which was slow to respond earlier in the year, was a prime favorite today. At 267 it was up 17 points. United Gas Improve- ment_ old, crossing 270. was up over 8 points, and new high prices were made by American Superpower, Allied Power & Light and United Power & Light A. Electric Investors was car- vied forward by the advances in_the stocks of the companies in which it is interested. Central States Electric, selling at a new top at 160, was re- flecting the favorable showing in the 12-month ea tement. In the al year gross was jarger by almost 150 per cent. Humble broke away from the rest of its group and made a new 1929 high on a relatively small turnover. Gulf Oil of Pennsylvania, which had been strong earlier in the week, met realiz- ing and reacted slightly. Cities Serv- ice, on the other hand, pushed ahead into new high ground, There was the usual large opening in Marconi International amounting to 16.000 shares, up fractionally, but at 2 new high. Other strong stocks in- cluded Grigsby-Grunow with a_6-point advance, American Cyanamid B, Gen- cral Fireproofing, Bickford's, Inc.; Mid- land _Steel Products, Proctor & Gamble nd White Star Refining. Checker Cab, hich was so weak Thursday, fluctuated uncertainly around the previous close. Baltimore Markets Spectal Dispateh to The Star. BALTIMORE, Md., July 12.—Poul try, alive—Chickens, pound, 32a43: Le rns, 23a31; poorer and thin, 21a22; id hens, 20a32; Leghorns, 26a28; old nosters, 18a20; ducks. 20a25: guinea »wls, each, 50a1.00; pigeons, pair, 25. Eggs—Receipts, 1217 cases; native ~nd nearby firsts, offered 33. bid 32; current, receipts, 31a32; small, under- zes, 25. Butter—Good 1o fancy creamery, ‘1a44; ladles, 33a35; store packed, 29; 10 32; process butter, 40a4l. y and Grain Markets. ‘Wheat—No. 3 red Winter, garlicky. 237.; July delivery, 1.23'5. bag lots nearby, new, 1.08a1.10; ces on_grade, No. 2 red Winter. . 3, 1.21'2; No. 4, t, July delivery, no otations; No. 2 yellow. domestic, . 1.12; cob corn, old, 5.50. s—No. 2 white, domestic, spot 3 white, domestic, spot, Rye—Nearby, 95a1.00. Hay—Receipts, none. While hay is ~riving here in limited quantities only, is_more than enough for demand, hich is being supplied mostly by icks from nearby points, a few car- | ads being received. ‘There is mnot +uough business passing to establish ices on the various kinds of merijt a range of 13.00a16.00 per ton for mothy or clover hay. Straw—No. 1 wheaf, 12.00a12.50 per tn; No. 1 oat, 12.50a13.00. Live Stock Market. Cattle—Receipts 500 head. Good | cupply; market stronger on steers, | « hers steady. Prices are for grass-fed rattle. Strictly grain-fed cattle will “ring considerably more. Steers, choice, 350 to 14.25: good, 13.00 to 13.50; | “edium, 1200 to 12.75; common, 0.00 to 11.50. Heifers, good to choice, 1.50 to 12.50; good, 10.25 to 11.00; | sedium, 9,00 to 10.00; common, 7.75 v 8.75. Bulls, good to choice, 9.50 to 9.50; fair to good, 8.50 to 9.50; com- v1on ‘to medium, 7.75 to 8.75. Cows, sod and choice stable, 9.00 to 10.00; ~ir to good, 8.00 to 9.00; common to viedium, 5.00 to 7.7 Sheep and lambs—Receipts, 450 head. iood supply; market steady. Sheep, 100 to 6.50; lambs, 8.00 to 14.75. Hogs—Receipts, 150 head. upply; market higher. 12.40 to 12.7: Light Lights, 13.10; medium, 13.10; 8.00 to 11.00; light pigs, 12.25: gs. 12.90. Trucked hogs, 15 to 30 nwer than quotations. Calves—Receipts, 100 head. Light upply; market steady. Choice, 6.00 to 6.10; no extras. Vegetable Prices. Potatoes, white, 100 pounds, 75a1.25; now potatoes, barrel, 2.00a4.50; sweet otatoes, bushel, 1.50a2.25: yams, bushel, 50a2.25; beets, 100, 2.00a2. beans, \ 1.00a1.50; cabbage, ; ‘carrots, 100, 3.00a4.00; crate, 4.0026.00; corn, dozen, 25a3; umbers, hamper, 65a85; eggplants, crate, 5.00a6.00; lettuce, bushel, 1.00a *.00; lima beans. hamper, 2.5024.00; nions, crate, 1.25a2.00; peas, bushel, 250a4.00; squash, hamper, 15a25; pep- sers, bushel, 1.5022.00; tomatoes, ham- :"apples, bushel, 75a2.00; quart, 12a20; cantalopes, rrate, 1.50a4.00; grapefruit, box, 2.25a +00;" huckleberries, quart, 15a22; oranges. box, 2.50a3.50; peaches, crate, 2.0024.00; watermelons, 20a50. Waste Is No I.on—g;r V_hste. ‘The_tangled mass of thread which is often %encountered in the operation of Iooms has been in such great demand for use in wiping machinery that the quantity could not keep up to the de- mand and accordingly the manufac- 4ure of waste became itself an in- dustry. ‘This demand forced the price to a point’ where it was almost pro- hibitory for its usual use. Then there ~rew up a demand for rags and at the present time the supplying of clean rags for workshop uses is an industry of no mean proportions. An American, cfficiency expert was in London recently and visited a great plant devoted to the salvaging of material from the city refuse. In one department alone there were 150 girls engaged in sorting rags according to the quality and their pos- sibilities. A mountaln of rags reached almost to the roof, but with lightning Sales in INDUSTRIALS. hundreds. High. 100 Acoustie Prod 3, Aero Indust . 1Aero Indust wi P&Ll liied P & L 1st llison Dr. B pid lum Goods Mg ... 4Am Comonw P B ... 1Am Common opt War 1Am Cyanamid pfd 1 Amer Dept Stores 12 Amer 1 Amer 4 Amer 413 Amer Amer Investors B ... 22's Lt & Trac xd. 288 £51 & Chem 4 2 Anchor Post Fence 202 Atk Natl Gas A 3 Arcturus Radio T . 120 Atk Natl Gas . 34 Armstrong Cork 18 Asso Elec Ind Aso Gas & Bl A A3S0 G & E deb it Asso Ravon %0.... Asso G & E_niis S AU PruiL & Siig iAuto Vot Mach . 1Auto Vot M cvt pr b 4 Aviation Co of Am 11 Aviation €orp ... 1 Beatrice Cream ' 3, Babcock & Wilcox 3 Bellanca ‘Afrc vtc 1 Bickford pi 6Bliss E W. 2 Braz Tr L & Bruck Siik g Buad Mg 18 Buf Niag & E B 11 Buf Niag & E P'A 1 Bulova Watch. 4 Purma Co:p. 1 Burroughs Add Ma'n 16 Butler Bros....... 9 By Prod Coke n..':'l 8 Cable Rad_Tube Vic. 2 Campbell WWyant. 333 Can_Marconi W. 3 Capital Admin A. 5 1 Capital Admin A’ pfd 6 Caterpil ~ Tract.... 4 Celan C Am 1st pf Sou U pfd... 11 Cent States El n 1 154 Cent S £ Cent St El.conv pI Cent Sta EI conv pfd Chain Store Stock Cities S lumbus El Pow.... Commonw P pid xd. 100 1032 Gommonw_ & Sou 304 Comw & Sou opt war 10 9 Commonw ULl B... 10 Cons Aircraft ... 0. 16 Cons Auto Mer vic.. iCons Auto Mer pfd 10 Consol Dairy 1 Consol Film 8 Consol G Ba 1 Cons Gas Uul 3 Consol Instru & Consol 2 Cons ' Rel 4Cont] Diamond Fber 74 Curtiss Wright Wi. 3¢ Curt Wright. war wi 1 Cuneo Press ........ 3 2 Curtiss Aero "Exp... 94 Curtiss Alrport vic.. 24 Curtiss Flying Serv 2 Daniel Reeves 5 2 Davenport Hos De Havilland old 41> Deere & Co .. iDe For R C 2 De Havilland A 1 2 DetAlreraft 13 Dixon (J) Crucibl I Deehler Die C C 1 Duke Pow 2 Durant Mot . 4Duz Co A vic . 1 Edjson_Bros Strs 3 Eisler Elec 138 EI Bond & Sh : 2 El Bond & Sh pfd .. 392 EI Bond & Sh rts . 49 El Invest Inc 2 El Invest Inc pfd 14El P & L opt wal 2EI P & L' 2Dl A 100 Elec Share Ho . 16 Elec Share pfd Cor 4 2 1 72 1 1 5 0 4 2 Pageol Mot Co 5 Fandango Corp A ... 1 Fedders Mig A . 9 Fed Water A 4 Fiat stk deb ris 8 Piats rots ... 2 Financial Inv N'¥ 11 Fokker Airp Am 3 Ford Mot Co Can A1 4 & Ford Mot Co Can B n 6 Ford Mot Ltd ... 8 Foremost Fabrics 2 Foundation Fo A 16 Fox Theaters A . 2 French Line B i § Freshman Chas Co. 3 Garlock PKg. 2Gen Alloys 2 Gen Am Inv 10 Gen Bak.. 4 Gen Bak pid 111l 20 Gen Elec Ltd reg... 5Gen Fireprfg n..... 2 Gen Laund Ma il 17Gen Real & Util Cor 25% 3Gen Re & U Cor pfd 93'3 2 Gen Print Ink....... 47 2 Gerrara 55 A Co wi.. 1 Gleaner Comb Har.. 4 Globe Underwriters 28 Gold Seal Elec n...% 1 Goldberg Strs pfd 17 Goldman _Sachs n 3 Granph Co Ltd rts.. 1Gorham Mifg ....... 823 1Gr ALP T C n'vic:. 401 4 Gramoph Co Ltd rcts 40% 14 Grief L & Bro pfd.. 95 6 Grigsby Grunow n. . 196 1Ground Grip Sh pid 397 2 Guardian Fire. . 1Hall Printing. 2 Haygart Corp. & Hazelune Corp 7 Helena Rubenstei 4 Hood Rubber . 23% 13 Hiram Walk G & W'n 27 2 Holt Henry A........ 23 1 Huylers Strs of Del 5 Hygrade Food Prod 13 Insur _Secur. 2 Insur_Shares A ... 15 Intl Superpow Corp. 69 Intl Project n.. B 4 Intl Safe Raz 5Intl Shoe ... 2 Intern ULl A 8Intern ULl B 11Intern Utl war 3 Investors 8 Irving 11tal Equity. | Air_Chute uperp deb ris 5 Kermath ... 2 Kolster-Brandes 2 Lackawan Sec 1 Lake Super C. 1Land Co Fla 5 Lazarue ... 1Leh Coal & Na 1Libb Owens Sh GI' x 1Lerner Stores.... 3 1 §Long Isl Lt...... isiana Land & Ex 3 Ludwig Baum pfd 3 McMarr _Stores 1 Mangel Strs pfd . 1Maning Bow A 234 Marconi Intl Mar 1Mare Wire Lond B.. 5 Marjon Steam Shov 1 2 McLellan_Stor A ... 5 1Mead Johnson ...... 6 Meritt Chap & 8. 3 Miller (1) e isouri Kans Pipel. . ohawk Hud Pow. 3 Murray Corg rts 1 Municipal Serv 13 Nat Aviation . 4 Nat El Pow A 2 Natl_Fam_Store 1Nat Investors . 1Nat Mfg & Stos 1Nat Pub Ser A 3Nat Rub Mach 1Nat Sug R N J B 74 Nat Theater Sup 2 Nehi Corp . 1 Neisner Bros 1Neisner Br pd .1l0 1Nestle LeMar. 1 Newberry J J 34 New Eng Pow’ 7 N opt War 39 Niagara_ Shares..... 6Noma Elec...... 4 Nor Amer A 1North Amer Cem. 5 North Am Utility 56 North Eastern Pow. 3Nor Sta P A. 10il Stocks A 1Pac C Bis pfd 1Pac G & E I* 16 Packard Motor n. 1Param Cab Mf 1J C Penney & Co. 2Penn G . El A, 1Penn Ohlo Ed 4Penn Wt P C...0" 135 Pennroad Corp’ vt 2 Peop Drug Store..... 4Peo Lt & Pow Corp A 1 Perfect _Circle. 24 Petrol Corp 1'pfl 2 Philip Morris. 1 Philippe (Loui 1Pick Bar & Co pf 4 Pilot Radio Tub 12 Pitney Bowes P. 2 Powfrell & Alex 3%is touch the girls noted the material and texture of each, piece and flicked it into its proper bin. . Twins Gain in New York. NEW YORK, July 12 (#).—This year’s crop of twins in New York City i8 big. .There have been 547 pairs, com- |- pared with a total of 516 for 1928. s Club Re-elects Ramsay MacDonald. ELGIN, Scotland, July 12 (®) —Ram- say MacDonald has been re-elect membership in the Moray Golf Club, which expelled him in 1916 for paci- m e 34 8afe C H & Lt. ig Batew Sirg 3 Wi, Regis T Co. | will_continue to be increasingly active | iting a willingness to take foreign bonds lon the call loan market is a matter 4 | been { lightened class tend to take a long look | !turn that they calculate may not be | | with large investors than ever to seek | {ing here for a few months, conditions !in the matter of automobile shipments abroad. During the first four months | like months last year and then in May | ward trend continues some notions as [to the status of American automoblile | factories will have to be revised. | by the extension abroad of the impor- | tively took $40,000,000 less of American | for uniformity throughout the United THE EVENING %2 Sherwin Wms Co. i Sikorsky aviatign 10 Southern Corp ‘wi 18ou Cit UL A..... 14 Southw Gas Ut Corp 5 Epanish & Gen rots 400 Stand Brands Inc. 2 §tahl Mey 6Stand _Steel 3 Stand Motor 2Stand Power 1 Starrett Corp & Stein Cosmetics ! 5 Strauss RothStrs Inc 13 Stone & Web Inc wi. 1 1 Stinnes Hugo . 2 Stutz Motor 7 Superheat Co 1Swift Intl 18yra W Ma 1 Taggert Corp 1Tampa EIl .. 25 Thermotd £ 2 Thermoid pfd 2 Thomps Prod 1 Thomps Starrett ‘pf 6Trans Am ...... 8 Transcon Alr Trsp.: 28's 2Trans Lux DLP S A 11 19 Tri Cont Corp...... 34% 8Tri Cont Corp pfd... 104 7a Tubi ATt 8 B........ 39 1 Tung Sol Lamp B 1Tung Sol Lamp A 1Union Amer Tnv 1Union N G Can. 3 Union_Tobacco 1Uni Chem pr pfd 2 Uni Drydock .. 2 Uni Elec Bond ris. 6 Uni Gas Co 65Uni G Imp C 1205 Uni G Imp C n. 368UNI Lt & P A, 7Uni L & P cv pfd 2Uni L & P B pld 1Unl Milk SR 1Uni Piece Dye Wis.. 37 37 Propl.. & Light Washington Ticker By the Associated Press Manifestly the process of lending American capital abroad, which was interrupted a few months ago by the rise of interest rates in this country, is resuming. June reports indicate that about $100,000,000 was put into foreign obligations from the American market, and in spite of high collateral inter- est rates which still persist here, there are signs that the of foreign bonds toward the end of the Summer. Why American investors are exhib- with a 6 per cent coupon or there- abouts when money is worth 9 per cent of considerable interest to financial observers. Two or three theories are suggested to account for it. “In the first place. the high collateral rates are rather elusive for the gen- eral run of investors,” remarked Gros venor M. Jones, chief of the Commerce Department’s finance section. “Few in- dividuals actually can take advantage of the call money rates, no matter how high these run, and the time money rate that their capital can earn has! noticeably lower than the call | rate in the last fortnight. “Further, investors in the most en- forward, and to obtain today a re- obtainable in six months or a year. | Likewise, there is more of a disposition diversification, on the accepted theory | that the widening of the field over which their_holdings are distributed is always justified and increases the surety of the whole return. Thess considera- tions always operate to make a market of considerable size for new foreign securities in the United States. “At the moment there is likely to | be a good deal of Canadian_borro ing in the United States. Canadian | policy of protecting that country’s gold reserve somewhat favors the issue of securities abroad, and, while there has been a restriction on Canadian financ- are likely to bring about a resumption of sales of that country’s paper on ! American market Contraction in American exports during May was most strikingly mll’kfd' of the year the auto industry in North America increased its shipments abroad 85 per cent over the total exports in actually fell below the 1928 record. Analysis of the trade situation affected hasn’t gone far enough to disclose the reasons, but all agree that if the down- “We haven't any reports yet to show | whether the decline in exports can be| expected to continue,” said Pike John- son, Washington representative of the National Automobile Chamber of Com- merce. “Possibly it is merely a tem- porary reactiqn following the heavy ex- ports of earlier months. It is hardly likely that it is a trade reaction produced tant American operations, such as the General Motors acquisition of the Opel plant in Germany, and the organiza- tion of large Ford units in continental countries. These enterprises have not yet had the time to show development.” |- In the matter of American exports| generally, which fell during May to a| total of about $38,000,000 less than ex- ports in the same month last year, lat- est Commerce Department figures show that decline of European buying ean be held responsible. In May this year the principale European nations collec- products than during the correspond- ing period of 1928. Germany, in particular, was hard by business depression during recent months, and the trade figures showed that her May imports from the United States declined about $9,000,000, or more than 25 per cent, from last year. Other European nations, though less affected by the reparations controversy which was in progress much of the| forepart of the year, also withheld buy- ing. In so far as Germany is concerned, the outlook is now markedly for better trade. One of the tests of Geman ac- tivity is traffic through that country's great water artery, the Kiel Canal, and the canal tonnage handled in the latest month reported is 19 per cent above the total in the previous 30 days. ‘When it came to submitting to Gov- ernment regulation, railroads after a long struggle succeeded in establishing the paramount character of Federal au- thority in their field. The younger au- tomobile transport has grown up in practical acceptance of the theory that control over its operation is a State matter. Now, as the airplane pushes into commercial usage on a national scale, there seems to be evident an or- ganized demand that its use should be considered a matter for Federal super- vision, and that States should in prac- tice resign authority to the National Government over air operations. This matter is likely #o be pretty fully tested out with the coming ses- sions of State Legislatures over the country this year. The industry in both its manufacturing and operating branches seems to prefer the Federal control. The argument for it, as set out by the Federal aeronautical organi- zation, is that there is “imperative need States in the matter of airworthiness of aircraft, competency of airmen, and most particularly in the operation of aircraft in the air.” he simplest way of accomplishing this seems to be the enactment of a State law which would, in efect, re- STAR Received by Private Wire Direct to The Star Office 8 Finish S Foll B s 8 en s esnss FnswsmrsBrs £5 Freighf Gypsum ted Stores Btores pfd. Eauites . gogdaecadan & 8 s Financiai ' Cofp 1 aitt & Bond B algreen . 2 West Air Exp rts 1 Watson J 3 Wayne Pump 1 Western Alr_ Exp 9 White Star Ref Co. 1Winter B J . 3 Zenith Radlo % Zonite 5 11 Zonite ris cash Sales in MINING STOCKS. hundreds, 1 Ariz Globe C . 3 Carncgie Met 1Com Tun & Drain 1. 4 Cons Cop Mines ... 2 Cresson Con Gold 5 Falcon Lead Min .. 3 First National Copper 1Gold Coin .......... 2 Golden_Center ‘M 1Hecla Min ....... 1 Hollinger Gold 10 Hud Bay Min & 11ron Cap Copper 3 Metal & Min 2 Newmont Minini 1N J zine n 13 Norenda . 10nto Cop . 1 Premier Gold M 30 Red Warrlor ... 4 Roan Antelope Goj 2 Shattuck Denn . 5Uni Verde Ext ! 4 Uni Zinc Smelt 1Utah ADex ...... Sales INDEPENDENT OIL STOCKS. in hundreds i Am _Con Oiifids 2 Am Maracaibo Co 10 Carib Synd 2 Colon Oil 1 Columbin 3 Cosden Oil ¥ Creole Pete 1Derby O & 49 Gulf_Oil Pa 3 Intercont Pet 1Kirby Pet .. 2 Leonard Ol 3Lion Oil 1Lone Star G Del 1Lone Star G Del 1. 1 Mount Gulf S5 L 108 Transc Ol 1 Woodley Pet Sales in _ STANDARD OIL ISSUES_AND units. = FORMER SUBSIDIARIES—STOCKS. 100 Atl_Lobos. We 1% 50 Borne Scrym N 35 28 100 Buckeve P L. 6 69 100 Chesebr'gh M. 100 Cont'l” Ofl.... 700 Humble O & R.. 11 Imp O Can n.. 200 Inter 5070 50 Sou W Penn P L'n 4008 O Ind...... 1008 O Ky n. . 1008 O Neb . 100 Vacuum O} Sales in thousands. BONDS. 2 Abitibi P&P 55 A '53 83'% 5 Allied Pk 85 30 . 52ia 1 Alum Co Amer S 3 Am Agsre Cor 65 98, 98" | | 47 119% N | IR K I | Bemva Ehe 6 300 Beacon Oil 68 '36... 118 1 Bel T con 85 A'%5s: 400, Bl Tean A g 5C Cem Ltd 5'2s A '45 98 13 GasRamin Co' 58 183 108 Gar, Adimin Co. 8 Cen Sta P&L 5';s '53 92 L 55,88 o2 Cit Serv Gas 5155 10 Cit Serv Pow 515s ' 4Gen Ind Alco 62 2Gen Laun Ma 6125 '3’ 1Gen Vend 65 '37. . 16 Georgia Pow 7 19 Lahigh Pow 65 A 2026 103'4 1Libby McN & L 55 53 8012 1Lone Star Gas 5s '42. 95 3 Long Isl Lt 6s '45 ... 102% 2 Louls Pow & Lt 58 '57 92 39 Mass Gas 5123 '46 ... 3 McCord Rad 65 '43 .. 8Minn P & L 4lus 78 1Mon L H & P 55 A 31 99 25 Muns 88 Line 6s '37 114'; 1Narag 5 87 ... ... 80 INat P & L 65 A 202610473 10 New Eng G&E 55 '48. 91 INYP&L4 i 3 Niag_ Falls P 1Nor Ind P 8 7 Nor 5 P M 8 Ohio Pow 4125 D '56. 3 Osgood Co € '38 .. 4Pac GAE 4'28°E ‘31 8Pac Wn_Oil 6%:s '43. 1Pen O E 65 A 50 ww 1Pen O E 51us 59 B.. Penn P & L 58 B 53 15 Peoples L & P 5s '79. 10 s & £ 3las 02 . 1 Pitts Steel 65 '48.... 1 Poor & Co 6839 .. 100 1 Potomac Ed 53 E ‘56 9413 & Rel Manage 55 '54 A. 101 s 15 Kichtid_O1l_ 65 '44 Al 100%z 9 Rocn Cen Po 58 '53. 1 Schulte R Es 65 '35 % 8 6 Southe P&L 6s A 2025 10: 1Sou Cal Ed 58 51... udsy 5 Southw P&L 65 5 Staley Mig 6 '42 7Stand P & L 6 9 8wift & Co 55 32 5 Thermoid 6s '34 1 Ulen & Co 6%3 ‘38 ¥ 5Uni Lt & Ra 65 A ‘52 1Un _Oil Prod 8s 31 .. 1o S Kup bigs ' 3TVl P & L 58 4 Wwesty Cnlor, 942 82 Westn_Pw 5135 A 2 West Tx ULl 55 A '8 Sales in ‘uousands. FOREIGN BONDS. 2 Bank Prussia §s '50.. 97 1 Buenos Alres 7s '52.. 101% 8Burm & wain_6s 40 1004 Suom & Pri BK 51as 37 86 i Dainisa Lons 93 95 15 Eiec P Ger, 6125 '5: 1Fin Res Mg 65 /6] b cansory Yoras 198 1 Free St Prus 6s '52;: 5 rree b PIUS b2s bl 1 Gelsen Min 6s "34.,.. 4 Ger Cons Mun 75 47 15 Ger Cons Mun 65 '47 4 Hamburg E_5!as 20 Isarco by El 4 k 2 Ital Superpow 6s '63 Luukost & M BK 18 "2 15 Montevideo 65 A /3u. 1Mor Bk Chile s '31. 10 Russ Goy. 5as 21... 15 Russ G 63 Russ G 6 1 Santiago 75 '49. 2 Sauda_Falls s 1Stinn Hugo 7s /36 wa 93 38tinn Hugo 7 46 wa 83% 9U St Wks 6'as A 47 92'2 5 123 s xd—Ex dividend. NEW YORK COTTON. NEW YORK, July 12 (#).—The cot~ | tan market opened steady today at an | advance of 9 points to a decline of 2 points. There was a little covering by July shorts and some buying of later deliveries on relatively steady Liver- pool cables, but the demand was sup- plied by selling on a favorable view of | the early weather reports. | October eased off from 18.29 to 18.26 right after the call, but the offerings were not heavy and the market, while somewhat irregular, held fairly steady | within a point or two either way of | yesterday's closing quotations at the quire all intrastate aircraft and airmen to be federally licensed,” the last air commerce bulletin says on the point. “This at once sets up identical require- ments and obviates the necessity of a State inspection system, with its at- tendant difficulties, complications and expenses. f this view obtains, the outlook for regulation in the air will be fairly sim- ple. It remains to be seen whether Legislatures will assent. So far, most of g\!m have left the subject untouched, which doesn't entirely satisfy the avi- ation world. © Many aircraft are now operating without Federal license, and it id the contention of the Government that the unlicensed craft than their share of accidents, and un- duly extend the aviation death roll that 1 s, ve morel end of the first half hour. | Cable advices received from Liver- pool said that local and continental liquidation in that market had been absorbed by trade buying and covering, but that Manchester was inactive with | buyers of cotton cloths showing a dis- inclination to pay current prices. Offerings were light later in ‘the| morning, and prices worked higher on covering which may have been inspired by a belief that the technical position had strengthened sufficient to warrant expectations of a week end rally. The better tone reported in the stock mar- ket was also a factor on the advance, and the market at midday was steady, with October at 18.38 and January at 57, or about 6 to 13 points met { outlook 1s INCREASE IN FREIGHT VOLUME IS EXPECTED Present Extent of Railroad Busi- ness Is Greater Than Anticipated. BY J. C. ROYLE. Special Dispatch to The Star. NEW YORK, July 1 Railroads ex- pect an increased volume of freight business during July, August and Sep- tember, but few carriers anticipated the amount of business that is coming to them today. The harvest normally demands a large number of freight cars. The sup- ply a short time ago was deemed in- adequate, but that seems to have been because the roads did not anticipate the volume of other products they have been called on to carry. This situation indicates clearly the stable position of manufacture, pro- duction, commerce and trade. For dis- tribution is the most reliable of meas- urements and the freight volume shows what the distribution is. ‘The Midwest Shippers’ Advisory Board, which has been most accurate in its prognostications, looks for an in- crease of around 11 per cent in ship- ments in that great territory during the third quarter, as compared with the similar period of 1928. The increase in shipments for the country as a whole is about 7 per cent. The Midwest ex- pects steel shipments to rise 40 per cent, coal 32 per cent, fodder 25 per cent, grain 20 per cent and oil products 10 per cent. Not all sections will record such ex- traordinary aavances, but signs are not lacking that distribution will be ex- tremely heavy throughout the United States. If distribution is heavy, pro- duction must be heavy also. GRAIN MARKET. CHICAGO, July 10 () —Wheat went | decidedly upward in price early today, influenced by fresh cuts in estimates of Canadian wheat production this season. According to & Chicago trade leader, the for 200,000,000 bushels. Smaller yield in the prairie_provinces than last year. Opening unchanged to 55 higher,” wheat afterward scored ad- vances all around. Corn and oats were easy, with corn starting at 3% off to } up, and subsequently undergoing a gen- eral setback. Provisions inclined up- ward. At noon wheat was 2 to 21 higher, and corn varying from to Y4 up. Supplementing unofficial forecasts to- day that the Canadian prairie provinces are likely to produce as low as 310,- 000,000 bushels to 325,000,000 bushels of wheat this year, as against July 1 | predictions of 372,000,000 bushels and compared with 509,000,000 bushels last year, were reports that the condition of Wheat in Saskatchewan during the last two weeks has been reduced from 92 per cent to 67 per cent. Advices were also at hand that North Dakota wheat condition is now 52, against 74 on July 1, South Dakota “0” against 75, and Montana 55 against 100. Dispatches from other sources said | that from Craik, Saskatchewan, south- east to Moosejaw 90 per ment of wheat is on the verge of total failure, and thousands |of acres are completely gone, with the | crop elsewhere deteriorating daily. Re- ports were also current telling of further heavy damage to domestic wheat by floods Southwest. Stock Increase Planned. YOUNGSTOWN. Ohio, July 12 (A).— Directors of the Youngstown Sheet & Tube Co. today recommended to stock- holders the increasing of the authorized no par common shares from 1,000,000 to 2,000,000 and the paying from the additional issue of a 20 per cent-stock dividend. The proposal will come be- fore stockholders at a special meeting August 15. Great Britain has more than 800,000 women out of employment. WE PAY The road of ndthrift is the Hill.” o OR MORE out check and tomorrow. will start right direction to se- on your curity. St UHIES Saturday 1929, New Securities By the Assoclated Press. NEV/ YORK, July 12.—New securi- ties offered today include: ‘Twenty-five millions dollars Canadian International Paper Co. first mortgage gold bonds, 6 per cent series, due 1949, priced at 95 and interest, to yleld about 6.45 per cent. Offered by a syndicate including Chase Securities Corporation, Bankers’' Co. of New York and Harris, Forbes & Co. Four million two hundred and fifty thousand dollars Federal Public Service Corporation first lien gold bonds, 6 per cent, series of 1927, due December 1, 1947, priced at 95 and interest, yielding more than 6.46 per cent. Offered by a syndicate composed of H. M. Byllesby & Co., E. H. Rollins & Sons and Bart- lett & Gordon 1 One million seven hudred and ninety- | nine thousand dollars Kearny, N. J., Water & Improvement 5 per cent bonds, due serially from June 15, 1931, to 1968, inclusive, priced to yield from 5.50 to 4.80 per cent. Offered by Har- ris, Forbes & Co., Bankers' Co. of New | York and the National City Co. Sixty thousand shares Chain Stores Products Corporation $1.50 cumulative convertible participating no-par value preferred stock, priced at the market, Offered by the Underwriters & Distrib- utors’ Securities Co., Inc, Business Notes By the Associated Press. NEW YORK, July 12.—The Consoli- | dated Instrument Co. of America, Inc., | has received orders for 500 complete | custom built instrument boards from the Command-Aire, Inc., of Little Rock, Ark, and for 200 air-speed indicators and 200 compasses from the American Eagle Alrcraft Corporation of Kansas City. June shipmenis of the Outboard Mo- tors Corporation amounted to 6,200, compared with 4,514 for the combined Evinrude, Elto and Lockwood Cos. in June. 1928, Imports of crude rubber to the United Siates during June totaled 44,490 long tons, against 49,180 in May and 25792 |in June, 1828, 'the Rubber Manufac- turers’ Association reports. An offering will be made soon of 100,000 shares of common stock of the ¢ | Aero Corporation of America, recently formed to acquire all the stock of the | Simplex Aircraft Corporation and sub- stantially all the bonds and stock of Assiniboia and northeast to | day making a deposit of your weekly Open daily 9 to 5 the Covert Gear & Manufacturing Cor« poration. June deliveries by 11 pipe lines of the | old Standard Oil group averaged 58 1507 barrels daily, compared with 34’ 666 in May. | The Perfect Circle Co. has produced & ring-installation tool to be used in | the installation' of piston rings, company announces, adding that the Chrysler Corporation has ordered 10,- 000 of them for distribution among its dealers. i DIVIDENDS. Pe- Pav- Corp. riod. Rate. able. Arlz Com Min.....— .25 July3t Bank Bd & Mg G Co A Tnit..Q .25 Aug. 1 | Bingham Mines. .. 3 July 22 Com Pow & Lt... Q Aue. 1 Do pf...... ... Q3150 Aug 1 *Courtds. Lid. interim 47, - — Cy Stores Cl A.... Q 873 Aug. 1 J Do 1 seiseizeareis @ ST NOV. Com Gie Tran 600 fr) (Am shares) .. El Sh Cl par G R RR 7% pf Int P& P Cl A Inter Paper. .. Knox P L 37t Do_$6 pf...... Min Moline Pow | conv "pf init.... Nichols Cp Cl A.. | Pacific_ Light. Do 35 'p! Seabd Sur Sylv In Ph init. Thermoid 7% | . cum conv ‘pf. | on,Pow G & W $3 pf init | U8 Realty & 1mo Co. West Alr_Exp... Wil-Low Cafete Inc cv pL.... Zonite Products. “Less tax. Stock of record July 6 July 20 July 20 30 fr July 24 Aug, Aue. Aug. Aug: 15 ‘An. Aug. Juiy 20 July 19 July 15 Aug. 15 July 15 July 20 15 Aug. 25 Aus. X | 1Equivalent to 32 Spendthrifts the “Over Start in to- We have prepare for financed One_dollar you in the “q ' City of Homes™ until noon NATIONAL PERMANENT BUILDING ASSOCIATIO (ORGANIZED 1890) 949 Ninth Street N.W. Just Below New York Avenue Under Supervision U. 8. Treasury ~ All Sprinkling Actions Combined in this One Below—a few of its many adjustments Rain King _AENS RAINKIN N~ ol Other Sprinklers seem like toys be- side_this finely built, business-like machine that gives you any spray, or stream, whirling or stationary, by three simple adjustments. Two noz- zles easily set to water circles 5 ft. to 50 ft., or sprinkle odd plots, or long, narrow strips—with cloud-mists, gentle showers or drenching-down- pour. Throws more water farther than any other on the same pressure. Sprinkles quicker—saves water— saves time. Only Sprinkler with bronze bearings free from pressure— hence no wear. Finest thing ever created for growing fine lawn, sarden, and shrubs. Dealers now demon- strating—don’t miss seeing this me- chanical marvel at $3.50. Manufactured and Guaraniéed by CHICAGO FLEXIBLE SHAFT COMPANY 39 Years Making Quality Products 5532 W. Roosevelt Road, Chicago the | July 15 | AIRPLANE MERGER i By 3| | Canal Bank & Trust Co. of New Ore g:'m “’nd the Guardian Trust Co. of roit. PLAN IS ASSURED s | The Guides of the Garden of Eden, If, én your Summer vacation you happen to stumble into the town of Qurna at the junction of the Tigris and Euphrates Rivers you may not be m- pressed by the scenery or the city but you will soon be informed that it is the site of the Garden of Eden and to prove it you will be shown the “Tree of Knowledge” The tree is merely a decayed trunk with a few scraggly branches and these will soon be out of business but the natives have thought- fully planted another tree near by and this baby will probably do service as “the tree” when the older one has de- arted. Any one visiting this locality s presumed to have come to see the tree for there is little else and the ehil- dren of the town are eager in their efforts to act as guides to visitors, The new arrival is at once spotted and surrounded by the juvenile guides and almost dragged to the tree. Arriving | on the ground the boys will bound into the branches and offer chips as souvenirs. The Lost Cullinan CTJ{ting. ‘The Cullinan diamond is one of the historic stones, ranking among the largest ever found. When it was about | to be dressed, it was found advisable to cut it in two. The pieces were almost identical in size and the larger one went through the cutter's hands, but the smaller piece, which of itself is an enormous stone, disappeared. There 15 Special Dispatch to The Star. NEW YORK, July 12.—Powerful New | York banking interests behind the | Curtiss-Wright Corporation, represent- ing the world’s largest combination of aeronautical interests, announced last night that they and otaer holders of large stock interests in the 11 com- panies involved in the consolidation have approved of the merger, insuring its consummation. At the same time the committee rep- resenting the larger shareholders of the companies concerned issued a call for deposit of stocks on or before August 15, indicating the effecting of the gigantic consolidation on that date. Banking_interests involved include Hayden, Stone & Co., Bancamerica- Blair Corporation, James C. Willson & Co., Dominick & Dominick, G. M.-P. Murphy & Co., Hempbill, Noyes & Co. and Jackson & Curtis. These, together with other corporations and individuals holding stock interests in the 11 aviation compaaies to be unified, will deposi the various stocks in exchange for the shares of the new Curtiss-Wright Co poration. As already announced, the merger in. cludes the Curtiss Aeroplane & Motor Co., Inc.; Curtiss-Robertson Alrplane Manufacturing Co., Curtiss Flylng Ser: ice, Inc.; Curtiss Aeroplane Export Cor- poration, Curtiss Airports Corporation. Curtiss-Caproni Corporation, Wri~ht Aeronautical Corporation, Keystone /... - craft Corporation, Moth’ Aircraft Cor- |a current story that the stone was poration, New York, and Suburban|by a native workman who mades:g’:; Air Lines, Inc, and New York Air|effort to realize upon it, but negotia- ‘Terminals, Inc. | tions were pending as he was hanged The Bankers’ Trust Co. of New York | for poisoning another native and the has been designated as depository and secret of the diamond’s whereabouts subdepositories are the St. Louis Union | died with him. This explanation did Trust Co., Girard Trust Co. of Phila- | not develop until after the man’s death, delphia, Bank of Italy National Trust & but the search for it has been recently Savings Association in either Los Tenewed on the strength of some new Angeles or San Francisco, Louisville A information. Trust Co.. Marine Trust Co. of Buffalo, | - | Bulgaria is refugee work Making youlook like ’1,000,000 spending $12,500,000 for People’s Trust & Savings Bank of Chi- cago, First Natajonal Bank of Boston, ' LIP into a Wonder-of-America genuine PALM BEACH, genuine NUROTEX or genuine MOHAIR suit—and even in the hottest weather you’ll feel like a million dollars! thousands of men lock and feel like “Sum- mer millionaires” Ly givire them these suits for$9.850 Wonder-of-America is making We had to do a lot of close figuring to get these genuine PALM BEACH, NURO- TEX, and MOHAIR suits down to $9.85. We bought the goods ourselves, we made the garments ourselves, and we sell the suits in our own stcres—on a margin of profit as thin as the cooling materials them- selves! It gives other clothing merchants the shivers to see how we cut our profits! _Follcw the smart fellows to the nearest Wonder-of-America Shop for a suit that’ll bring comfort to your bcdy—at a price that's a comfort to your pocketbook— $9.85! You can take Wonder-of-America prices coolly the year 'round—because our All- Woel Suits, made of fabrics that you see in clothes costing two or three times as much, are America’s greatest clothing buy at $17.50! TWO STORES IN WASHINGTON 1003 Pennsylvania Ave. N.W. 96_11 Seventh St. N.W.