Evening Star Newspaper, July 29, 1929, Page 13

e PINANCIATS GRAIN VALUES SOAR. ‘Wheat, Corn and Oats Climb to New FINANCIAD STOCK PRICE INDEX | [NEW YORK CURB MARKET the New York Curb Market today, with | : I e - | the volume of sales and prices up to| 13 Kail SRR 5 i Utilities Show Gam, but Othfl'“:‘:, [:c “"n'xJ;;;‘:;:x:‘ the market:| 3Nat El Pow A. s hundreds. Nat Investors . "'!dustrlfl' Groups Tend ! B Aero Indust . 'sNat P& L T8 . to Go Lower. believing that the stock market will| continue rightfully to absorb credits in | volumes comparable with the reeent| past, and that to check this process would harm American and foreign de- | velopments as well.” | Season Highe. What can be done in the way of | providimg fresh volumes of credit to | CHICAGO, July 20 (/) —Wheat, corn reduce stringency in other fields? land cats today all soared above any The answer: Call upon the “still ex- | DTices heretofore reached this season. cessive reserves of the Federal Reserve DUt alterward reacted sharp aystem, and call ih the so-called hid. {Sult of heavy selling to real ez, Yeseryes: afi our: gold. cisrer {Crop _deterioration because of drought bullion used to baok gpld certificates in | 90d high temperatures wis the main sirculation”—gold reserves is no fetish— | Stimulus for higher prices. Oft the it is emphatically something {0 be used 'Other hand. the movement of domestic when_needed, and not to lie idle when Winter wheat i of record-breajking not needed. proportions. with primary arrivals of If this truism were understood abroad ' Nearly 10,000,000 bushe's ioday. includ- the European banks could release fresh |iNg 1524 cars at Chicego, against 479 streams of credit for the industries and | €a'S a8 week ago. end 108 cars on the 'rndf of their respective nations. and corresponding dav last year. s (NAN.A)_ | Would not have (o depend as they do! ‘Vheat closed irrezular. i the ‘came ANAY~—lnow on the disposition of American 25 Saturdav’s finish fo 27; lower, Com | eredit, resources. closed at ' to 21, net gain, nate How long will it be before gold is 0 1's up and provizions unchanged ‘o WORLD BANK PLAN FAGILITY WEIGHED Received Direct to 1 Murray s .. ] Municipal 861y ab Aviation . 3Nat Bak 1Net Candy . Middle West Utilities Spec-}Germany’s Responsibility Is tacular Performers—Trad- | Increased, in Opinion of ing Heavy Today. Midland Head. SRR D e zs.z...iggsgflfl 13 Aero Xngunwr:,,. ‘e, 1§ Nat Pub Sel i MBI 1 b Mac 3 Alnsworth Mfg ... 3 Nal Buw RUN 1Ala Gt 8o pfa. ... 2air Tnvest vip Il 1 5 Alexander - Industries 1 ' 2 Alfcd Aviatien ..... | S S St | % n . 2 BY HARRY H. BECKER. . BY JORN F. SINCLAIR. 1 New Haven Clock. . 31002 100’ | MY invest b 10 Ch Ryvs cis cep 84 | Special Dispatch to The Star. NEW YORK, July 29 33 Maaey Srae ehigs o, : fora | NEW YORK, July 20.—The generally | Reginald McKenna, head of England's 961 Niag tud Pow 01 Aok 37 | lower trend of prices on the Curb Ex- | greatest bank, the Midland, is not yet | 1oy Ning H £ A opi' ir 87" change today, In sympathy with the| o o e i e Y looked u 12 4 ), A o pon as a means to an end-- ¥ sure that the proposed Bank of Inter: promoting trade and progress—and not | o TR , BY IRVING FISHER. Frecinl Dispsteh 16 The Star. NEW HAVEN Conn.. July Stocks behaved somewhat like waltzing | &l P & LUist pid 20! llison Dr B o e lum Co Amer ‘id.. lum Goods Mtg § fAm & For Pow war = down. nent - 4 Niag H mice last week. There was a lot of rapid movement in individual issues, | but no consistent direction and by and large very lit- tls net change in position. The utilit tinued soarirz. The index ic.cets a rise of 30 per cent since June 1. Turnover in these stocks i3 large, so there are evidently plenty of buyers at current quotations. Most of the other groups showed a tendency down- ward during most of the week, with considerable récoyv- eries on Frida Irving Fisher. Motors at Bottom. ‘The motors reman on gravelly bot- fom. sinking to 234 for the group on 1ast Monday. the lowest since a year ago. This Tesult may seem somewhat curious after the big production of the first_half vear. The answer appears o he that Fords and Chevrolets were per cent of the first half vear's pr dnction and that motor siocks were “over plaved” while Ford was getting ready to pour forth the Model A's Now more vere price competition looms and losses are easy to run into production schedules are mnoi held up fo where mass methods can be utitized. Fven the 30 industrial common stocks most. heavily dealt in during the week showed anly small price changes for the week, most of them oniy 1 to 5 points, except among the chemicals. ¢ This group, as a whole, was weakest ' tast week. Four issues in this group | were among the 50 most heavily traded | industrials. These were Lambert, Union | C & C. U. S. Industrial Alcohol and | Allied Chemical. All fell: Lambert only 3 poinis, the others 8 o 25, Allied Chemical making fhe nose dive. Surver of Movements. The compact survey of New York 8tork Exchange movements of common industrial shares is given below in price indexes (1926 - 100). There are two indexes of market price movement. | The first (“shares outstanding”) rep- resents all common industrial shares listed on the exchange, the importance | of each stock being considered accord- ing to the shares in existence, or out- standing. The second index (“50 lead- ers”) shows the price movement of the common industrial stocks most heavily dealt, in during the week, this list changing weekly with the shifts in traging popularity. The “shares outstanding” index shows what & substantially representative 5100 worth of stocks in 1926 would now | amount. o if held unchanged since that vear. The “50 leaders” index shows the result of reinvesting the $100 every week in the market favorites of that ! week. The last colimn of the table gives the rate of return on the week’s 50 | Ieaders at current prices, 1938 Week anded. Jule 26, juiy 19 v 12, KO Year . a¥o June average Mav average. 1228 average 1927 average. 1926 average High ('28-" 33T aaREEE (A 4.0 23) (July'29) (Jan 78) 125.1° 2539 1.8 (Fe'28) (Feb 2L Tnvestment Shares Resist. Tnvestment. stocks showed besi resist- ance to the gentle downward tendency of the common industrials. Thé chem ical stocks largely accounted for t Jarger decline in the intermediate group. Below are shown index mumbers of | prices of common industrials on the New York Stock Exchange, arranged in clacses derived from Moody’'s ratings: econd Third srade nyest- (specn- ™ iative) Tty il Juie 12 i s Yrar ago June May 1928 1927 average 1976 Average Hich (28-39) Low 28-28) g astataatvinving a 1 (Feb 22 (Feb.28) (Feb. Market Less Active. Market activity declined moderately Jast week, but rather generally. Motor: accessories and steels were the only groups more heavily traded than during ' the week before and these reached no | very impressive totals. The average dally value of all stocks traded last week, including rails. utili- tiee and preferreds, was $312,000,000, 2s against $360.000,000 the week be. fore; for common industrials the fig- ures were $203.000.000 and $231.000,000. European securities were mildly, but | rather uniformly weak last week. | Index numbers of stock prices on ! principal European exchanges are given | in the following lable. The 1926 aver- | 2ge is 100 for France and Germanya whereas the second week of October, 1926, is 100 for England. v | Week ended— England Jule 28 .. 130.8 1327 France Germany 167.0 108.3 0 4 6 0 9 5 0 1026 average (Copyright, 1920.) GERMAN BONDS AND STOCKS. | NEW YORK, July 29 (Special).— { Ger Govi Red Loan_with drawing . %% Ser Govi Red Loan with drawing Ulfs aitached per 100 R M. . 55.00 60.00 Ger Govi Red Lown without Grawing ctls per 1000 R M. 2300 3000 Quoted /@ doliars’ per million_marks. Hamburs AN 1919 . ..., 3500 4500 Quoted in dollars per tRousand marks ) Getman Gen Elect 4123 pre-war 13.00 24 i Geiman Gen Elect 4138 1919.... 2.25 Berlin 45 Dre-wAr. . ... Hamburk 35, 3'sn & 45 pre-wa Hambure American Line 4123 North German Lioyd 4' Krupp s 1021, . Dusseldort 4 ‘pré w Fronkiort a-M s pre-war. .l Munich 48" Dre-war. % (@ioted in dolisis Ber share) A £ G German Ge Elec): . 48,00 A E G (German Ge Elec) pld B Commerz and Privat Bank..... G Farben sconto Gelischati Beriiner Handels Dresaner Bank. Deutsche Bank. | Darmstaedier Bank Hevden' Chem Mereur Bank Viens North German_ Liovd. .. '~ " Alstrian A E G (General Eleé). 2335 323535 8315335%33 285232! CALL MONEY TIGHT. { NEW YORK, July 29 (#.—OCall ‘money tight: high, 10: low, 9; ruling rate, 9: close, 10. Time loans stead: 30 days. 8'2; 60-90 days, 8% 4-6 months, 8'. Prime commercial paper, 6a6',. Bankers -cu‘mncu. 30 days, 51485%: 60-90 days. 5/4a5%: 4 months, 8%ada; 5-6 months, 5385, By becoming so popular in' 1 2 1 Amer Arch Co...... 1Amer Bak A.. 111l 1Amer Beverage .. 2Am Brit & Cont Gor 5 Amer Br ‘Bov EI F. ta Amer Cigar .. 5 Amer Gities B & LA 47 Amer Cities P & L B 51 Am Commonw P A. 1Am Commonw P 8Am Comw P optl 38 Am Cwansmid B 16 Aser Dent Stores .y con ofd.. 26 Amer G < 23 Amer I 12 Amer 2 Amer 12 Amer T Amer 1 Amer 33 Amer 21 Amer 554 Amer Suerp n... Amer Supar st pid. 3Am Thread pfd.. .. 1 Amsterdam Trad 5 Angio Chil Nitra 2 Angus Co_Del 3 Arcturuis Radio T. 108 Atk Natl Gas. 41 Ark Natl G enm’'pfd 11 Ark Natl Gas A, 58 Asso Elec Ind 202 Asso Gas & FI A 409 Asso G&F n ris cash Asso Gas & K deb rts §Ass0 G & B on res ur, 2 At Fruit & Sug 2 Atlas Plywood ... FAuo vor Mach BSysssuSER 3% o 3 d Inc. ckford pfd auners g aw Knox n'.. iss ' % B BBP P! uf Niag uf N uf NREP pfd 4 Buiova Wateh £ Burma Corp .. 2Bur Add Mach o 2Cable Ead “Tube iie 4 Cables & Wireless A. 31 Cables & Wire B 3 1Cables and Wire fd 39 Can Marconi W £Ca Admin 2 Garnation_Milk 5 Carerpil Traet 1Gelan’ Cox Am 'l 1Celan € am 1 'pfd 1Cellii Co n pfd 18 Cent At Sta 5C E_conv pfd n s7d 2Cent Sta EI 1 A... 3 Cent Sta El conv ‘pid 6 Cent 8 El conv ptd n 13 Chain - store Stock... ect 661 Cities 4 Cittec 2 Cities 1Clts Mach & 'Too! 2Cleve Elec T ......1 1Conn Hall Mari [l ¥ Colg_Palmol ® 6 Columbia Picture: 10 Commonw Ttil B. | 2 Commonwealth Ed 620 Commonw & Sou 78 Common & 8 opt war 13 Cons Alreraft. ... 8 Cons Auto Mer vic 1Cons Auto Mer ptd 2 Cons Cizar war 7 Consol Film 1 Consol Pilm 74 Consol G Balt! 15 Consol G Balt vic 174 Cong, Gas N Y rts wi 2 Cons® Gas U1 A. 1% Consol_Laund 3 Cons'Ret Sirc 5 Contl Diam Fibre 10 Cooper_Bessemer . .. #Coop Ressemer of A 2 Covel Prod A 3 Coroon & R\ 8 Corroon & R pfd ‘A" & Curtiss Airport vic... Curtiss Flving Serv. Curt iss-Wright 3 Curtiss-Wright A .00 21 Curtiss Wright war.. 2 Danfel Reeves . 3 Davesa Inc. 2 Davenport Hos 92 Dayton Atrplane V. Deere & Co. De For R 4 ? Detroit Aircraft || 3 Dictaphone 1 Doehler Die C 'C 12 Pow ‘Chem S Dubilier C & »; Duke Pov.. urant Mot 5 23 Bnst States Pow B 6 Bdison Bros Strs 161 Eicler Elec ... 208 El Bond & 3h 550 F1 Bond & Sh ris . El Bond & Sh pfd. 25 F) Invest Inc. .. 1Fl Inves!. Inc pia. 2F P & L aptl war 3Em Pow Cor. 25 £m _Steel A4l Sha Hold st Al 11 F1 Sha Rold pld. 1Zng Pub Terv op 5 Evans Wall Lesd. . 11 Evans Wall Lead ofd. 1624 2 Fabrics Finish. ... 151 3 Tairchile_Aviain A 3, Fajardo Sug Co., ... 4 Fandsnso Corp A.0. 1 Fansteel Prod 2 1Fed Metals ctf. [ 10 Federsl Water A1\ 10 Piat stk deb 16 Flat rcts.. 4 Fiat reis 2 Financisi Invest N ¥ 1 Fireman_Punc Ins. 14 Pirestone oTire. 9 Fokker Fora Mot Go C. ord Mot Ford Moi Co CanBn 72 Fora Mot Lia. . 1% Foremosi_Dairy pid Forhay Co A. .. Fox Theaters A.. Freshmen_Chas Co.. Garlock Pkg Cigar ts BARE 0. Srac ble Twail Tig Rek sid ec’ Tud Te Inaust” Alcoho:: Laund Me .. Real & Util Cor 357 Theat Eauip vic 18 Gen R & Ut Cor pfd. 1Gen Print Ink....... 2 Giloert (A ©) ... 3Glen Alden Coal.’ .. 18 Gold Seal Elec n. . 165 Goldman _Sachs 5. 6 Gornam Inc ... 1Gorham Inc bfd 50 2 Gramoph Co Lid rics 32% 5Graymur .. 0. ... 58fy Gr A & P C pid... 116% 4Gr A & P T Con vié 389 3 Gresnf Tap & Die 2 103 Grigsby Gruniow n 3 Griasby Grunow.. 1Ground Grip Shoe 1 Guardian " Fire.... 3 Happin C 8t A’ 2 Hartman Tob. 27 Haygert Comp. [ 6 Hazeitine Corp. .. 20 Helena Rubenstein 5 Hercules Molor. ... " 5 Huylers Strs of Dei. 334 Hygrade Food Prod. 6 Indust Pinance ctf 1 Indust Finance pid Tinsur CoN A..... 51 Insull Uil Tng & Insur Secur... 9 Insur Shares A .l 2 Intl Perfume...... 37Int Projact n... 1Int) Sef Raz B... 3Intl Shoe........ 31 Intl Suberpow ... 11Intern Ul A 1Tnter Utit B L 2 Intern UL war. .. 8 Investors Eau t 5 Irving Air Chute . 42 Ital Superpow A 81iel Superp deb ris. 4 Johnson Mot .. 12 Kevstone Alrcraft | 1 Kolster-Brandes 3 Lackawan Sec . $1ake Super C... 1 Lakey Pound & 12 3304 - 8 Gen 2 1111 4114 1Libb Qwens 8h GI.". 5 Libb Owens Sh GI.'n 43 2Lily Tulip Cup. .. 2 4 Tondon Tin rets Y 23Long Isl Lt...... Yy Tone Tal Lt oid ) 1 Tanisiana Land & Ex 147 Macy ’ i Mangel Strs 728 Marcon) Intl M 4950 e S et 2 Eg"gaits 2x25" 2 ds 0”330 0 e sy ny | Sales units. 5 Niles Bem Pna. ¥ Noma klec. ¥i Nor Amer A 2 Nortn Amer Uem. 41 North kastern Pow INOF Sta PA.... I Northam War pid. 4 Northvest Engrg. 1 Orange Crusn..... 4 Otuboard Motors A.. 1 Outboara Motors B! 1 Bac G Bis pta 1Pac G & E 1 pld. & Packera Motor n 2 varam Cah, MIg 4 varke Davis Co 1 parmelee ‘Irans % vend 1 Groc B Penney & a0 C penney pta 1Penn G & FIL AL 1 Penn O Ed 6% pid “ Penn O Ed p ‘pid I penn Wt P C 295 peunroaa Corp vie .. 5 pPeon & Store . 7 Peop L & P Corp Al 5 eriyman miec.. .. 48 Peiroi Corp 1 ptd. b Bet MK pla i prim vorris A 3 1 Phiippe (Lowis) Bl i picr Bar & Co ofd. . 8 Pilot Radio Tube.... 29 Pitney_Bowes P.. ..l 3Pitts Ser & Boli ... 2 Polymet Mfe Co 5 Portl Bl Pow. 3 Pow Corp Canads 3 Powdrell & Alex. ... 11 Proct. & Gamble .. 1 Pratt & Lamb....... 22 Prudential Ty 0000 i3 Quaker Oats pfd % Pyrene Mfs . 4 Rainbow Lum P A0 2 Ruinbow Lum B 1 Reliance Brass & Stl 2 Rsvbestos Manh Ine 4 Reliance Management 12 Railway & La Sec 3 Roch Cent Power 2 Rockland L & P n.. 3 Rolls Rovce Ltd.. . 2 Root Rrz Cv pr pfd 1Rverson ... 2 Roval Type i Ruberotd i 22 Rverson J : 2 Russek's Firh' Ave.. uion 1550 Reeir Paper S Recis Paper pf Seniet. & Zan’ pf See Gen Am Inv Sex Tock & Hardw Sefect “Tng 1t o Selected, Industr Selfr Plov Stores Sentry Rafeiy Control 8 Serv Bl vie . 1 Shawiag Wat & Pow 3 Sheatfer Pen ... 470 Shenandoh Corp 2 Sierra Pac E_ 0. 156 Shenandosh T Sikorsk»_ Aviat 16 Silica Gel ctts 1Silver 1 & Brol! iSinger Mig Ltd.. 3 Skinner_Orean 2, Smith Co_ (A0 3 Sonatron T 3 i Southenst P i 1 Southeast P & 1 iSouihe P & I 5S0u C E B pi 180u O E C pf § Southein Corp i Sou ine 2 Spanish 284 Stand Brands 2'Stand Pow & Lt 4Starren Corp ... &G Sen) 10 Stein_Cosine: 9 Stand Steel Prop.. [l and Steel Spring ne & Webster Inc Sirauss Roth Stores Stinnes Hugo Stroock Co Stutz_Mot ', Superheat iswint Int! 2 8wift & Co V_Mach o 4 Third Nat 2 Trans Am on_Alr T 2 Travel Air Co 42 Tri Cont Corp. 3Tri_Cont Con 1 Triplex Saf Gf 2 Union Am_Inv 7 Unicn N G Can 14 Ulen & Co Wi 4 Uni Corp war 2 Uni Chem pr pfd... 5Uni Drydock ... 2 Uni Elec Ser o 13 Uni Gas Co 2001 G Imp € 23 Uni Lt & P A0 3Unl G Imp 1.5 1BUni L & P B 2Uni Milk ... : 1 Uni Molasses ‘Cu Lia Piece Dye Wk« PG & W Corp Pub Ser...... pid 36" 6 S Dairy AL S Finish S Foil B S Finisn 0 S _Freight S Gypsum . s Frelgnt tis S Lines S Had s S & In Sec Corp p 1007 iv Aviatlon COD.. 15t 1" Stores A ... iversal Aviaiion Eauiies i & Ind il & Ind pid 1i P &L ctf B til P& L owi Van C Pk 3van C_Pke 30 Vicks Fin 2 Voui S walgreen 2 Walzreen war 5Watson J W 7 west Aulo Su e TRCTTE-3- D SR N of ‘Dei n ni n cvgcacdoccacaaac: pid Il corpllll s d 5 egie Metals ... 2 Com Tun & Drain n 0 Gons Cop_Mines 5 Gresson Con Gold.. 4 Falcon Lend Min 13 Gold Coin........ 5 Golden Center M... 21 Goldfid_ Cons 1 Hecla Min . 1Golden Ceiter' M _s6d 5 Hud Bay Min & Sm 2 Iron Copper 1Mason Val..... 3 Metal & Min Min Co Can... 2 Mohawk Min ", 7 Newmont Min 2N J zinc n 1 New ‘Quincy i Nipissing 6 Noranda 13 Ohio Cop 8 Roan Antelope 2 Sbattuck Denn. 10Uni Verde Ext 10tan Metal 9 Walker Mines. 5 Wendon Cop. les in . . undreds. INDEPENDENT 41 Am Con Ofifids..... 2 Colon Ol 5 25 Cosden Oil..""\\10 18 Creole Peie. . 4 Derby O & Rel 9 Gult_ o1l ‘Pa 2 Homaokla_ Ol 13 Houston Gulf 16 Intercont Pet 68 Kirby Pet Leonard O ; T'Lone Star G Del ris 3 Lone Star G Del n wi 1 Magdal Synd......... 3 Mount Prod. .. 60 Nat Fuel Gas ... 1 New Bradford O... .. 2 New Mex Ariz Land. 13 Nor Cent ‘Tex Ol... 2 Pac_Western Ol 1Pandem Oil..... 2 Pantepec Ofi 2 Plymouth Ofl. .. ... 10 Reiter Foster Otl. . 28alt Ck Prod........ 5 Veneruelan Pet... 1 Woodiey Pet...... in _ STANDARD OIL 18] MER SUBSIDIARIES. 100 Borne Scrym n... 1000 Contl Oil...... 200 Humble O & R. 20611 P L. 900 Imp O Can n'.. 300 Ind P L. 4 200 Inter Pet Ltd n.lllll 300 Nat_ Transit. .. 1 Ohio Ol 5 7d. 500 Qrio Ofl 1 Cop. - o CEPPL I T8 $ES gxzsBuls =2 5 waadd = 56 56 8 203% 200% 2007 83 ' 82 82! 56 5 Commw Ed 4'28 D 5Cons G Balt 3 P '63 6Cont’l G&E 53 A 1Cont'l Ol 8'as '37.. 3Cons G Balt 43,5 89 1 2 Cudahy s '48. 3 Cudahy 8%:s '37 1Det City G 6s A " 2Det City G 5 B '50 1Det Intl 6lus 'S2.... 7Det Intl 7 '82..... 6Dix G Gas 6'28 A ‘37 1EIPas N Gas 8123 43 95 95 102% 102% 852 862 9 113% 120 & RS 871 87 SE O&R 5'as g 8t 1Faitha Morse 55 930 3Fed Wat Ser Siax 'S4 1Firest, Cot Mil 55 '48 3 Fisk_Tire 8lax '3l 1WIa PAL 85 54, .. I 1R Gatinesti Pow 43" 86 any @ 18 Gatineau_Pow 6y 41 00 ° 100 2Gen P Ser 5lax 130 1075 108 3Gen Theatres 68 ‘44 3G A Tov 5s A ww 52 | The first sale today w ‘110 points and before noon it 3 Gen Ind Alco 8%as 44 2 Gen Vend 6s 31, 12 30t | 10 Georgin: Pow B¢ 6 5% 3Gulf Oll Pen 53 5Gulf Ofl Pen s 8 Guif Stat U 55 A '$8 1 Hous Gulf C 6'4s A3 5 Hous Gulf G 65 A '43 19Ind Ofl & Gas 65 38 1 Indian P&L 55 A '3 1INUT Sec Amer 8 141 1Intersta Pow, 58 '37 25 Tny Gor Am 35 A '47 10Tnv Co A 55 A ‘47 ww Tlowa N L&P 55 A '87 9Kop G & Coke 35 '47 3 Lehigh Pow 65 A 2026 5Lib McN & L 8s 42 Star Gas 55 47 s Pow & L 83 ‘51 2 Mass Gar 3135 46 2 Mont T (&P 8 A 81 Neisner Realty 8 Eng GLE 55 ANY P& T A5 87 1 Niag Fails P 68 'S0 13 Not' Ind P 8 3¢ C "86 10 Ohin Pow 55 20 Oswopd Co' 6: 38 11 Bac Wn Of) 61,8 ‘43 1Batk & Tilford 8 1Pen O E 6s A 'S0 ww 2Penn O E 5'as 59 B. 10 Phiia E P 8058 72 Fhila Stburd 41cs ‘57 Paor & Co 65 39 OB G&E 558 A 52 Redance B & 8 65 44 Rel Manage 58 "4 A Richfid. Oil 85 44 A S Roch Gent P ox A San Ant B S 88 B & Coke #e 41 Wi a3 A w7 Snider Pack 6s ‘32 * P&L 65 A 2035 wnen 9l wirt i Jon Soutn Cal G 35 '3 e i v J Soutnw Da Pr 6128 38 vo Stand P & 1 65 37 oy b Sun Maig Ra 658 42 » " Suir & Co 35 33 Jove w9t W Texas B &L 5s 5601 s vals yRermoa 6 34 il Uni Lt & Ra 3iox 52 s1 us Uni Lt & Ra 83 A (33 I Un B of H 7 108" 108 U8 Rub ks 30 987 S Rub 813 340 S Rub 675 '36 § Rub 815 37,0 201 Ot P & 15 59 1 Westy Chlor 8'as - 6 West Pow 5'us A Sales in FOREIGN BONDS. thousands. 10AeTi’ Mor Ba Ts '47 97 987 857, 7Buenos Aires 7Ts '52 1017 10114 10175 14 Buenos Air 47104 ' 103'3 104 8 Cauca Vallev 8 a e 85 1 Hamburg & 1 Hung 1tel 7'28 AC ‘63 14 Ital Sup Bs 63 A" ww 471tal Superpow 8x ‘6% 1 Montevideo 6s A '59 2 Mor Bk Bog 7s 2 Mor Bk Chile 5 Mor Bk Chile 3 Mor Bk Den $s 18 Nippon Elec 6'ss 14 Parana_7s ‘58. 2 3Ruhr Gas 6125 A '83 17 Rumania d iStinnes H 7s 36 wa 1Stinnes H 7s 48 wa 2Uni Ind 6lss ‘41 3d-Ex-dividend. A—Plus exira in stock wi—When issued. n_New Ww—With warrants. SHORT TERM SECURITIES. (Reporied oy J. & W. Seligman & Co.) Bid Allis-Chalmers Co. Ss 1937 .. 8%« Aluminum Co. of Amer. ds id33 100! Amer. Rolling Mills 5 1948, .. Armour & Co_of Del. 8145 1643 Baltimore & Oho 41 s 1933 . . Ratuyian Pei, Corp. 4lyn Bell Tel of Cannda 5. 5 California’ Pet. Corp. 3l.s Canadian Net s Ganadtan Nor 4l Chesa. & Ohio Rwy. 41is 1930 hieago Rock 1slend 4s 1934 hile Copper Co. & 1947. Cudahy Packuag Co. 5128 1937 Delnware & Hudson Ry 1 1330 Edicon EI” Il Boston 4'as 1930 Gen. Mot, Accep. Corp. 8 1937. General Pet. Corp. 55 1940..... Goodsear T. & R. 52 1957.. . Grand Trunk Canada 6s 1936 Gulf Oil of Pa. 55 1937........ Humble Ol 51is 1932 Internat, Match Corp Qreuon Short Line 4% 1939 Phillips Pel. Co, 8'as 1930 Pure Oil Coip. ’$125"1937 . Sheil Union Ol Co. bs 1947 Sinclair Crude OIl Co. §1s¢ 1938 Standard Oil N. Jersey 35 1948 St L.Ir Mt & Ro. Ry. 4r 1926 St. 1. Southwestern Ry, 45 1932 Swifi & Co 5% 1932 4 Tnion ‘Gil Co. bfelanit 53 i Onited Drug Co. 5% 1953...0... 83 Western Electric Co. 58 1944 "1 101 Wheeiing Steel Corp. 5'zn 1948, 98% e i subsequent trading 25" ' b3 oot war A B e ans e #24 | liquidation on the big board and in- | fluenced by the stringency In money, was interrupted by one sensationa event. That was in Middle West Util- 2 | itles, the stock of which responded in | spectacular fashion to the announce {ment over the week end of the re- | capitalization plan. Touches 400 Mark. Middle West Utilities had closed on | Saturday at 355';, which represented a gain for the week of almost 54 points. | an advance of | had up almost 45 touched the 400 mark, | points at a new high in tie history of the corporation. It was not only the {\0-for-1_split-up, but the program of funded debt and of preferred stock re- | tirement which was responsible for the urgent_demand Another strong utility during the early trading was International Super- | power, which reported a total of re- | alized and unrealized profits equivalent |to $13.61 a share on the amount of | stock now outstandfng, the statement covering the period since organiza- tion in November last. Most of the utilities, however, were under pressure and reacted sharply. Buffalo, Niagara and Eastern dropped 7 points in the first hour. including Electric Investors, Long Island Lighting, Amer- ican Superpower and other recent fa- vorites. The reaction affected Shenandoah Co., both the preferred and the com- mon coming down from the highs of last week and taking with them Gold- man Sachs. Ticker Falls Behind. Trading was In large valume In Hy- grade Food Products. Grigsby-Grunow new and in Baldwin new. The ticker fell behind business on the floor early in the day. The selling, however, did not | assume large proportions untit the ses- sion was weli along. During the earlier dealings new highs were recorded in Efsler Electric, Marconi International Marine. Blaw Knox. General Theatre Equipment. Third National Investors, | Dayton Aircraft, Cities Service and Na- i tional Puel Gas. | Lancashire | dle Wes! FEDERAL LAND BANK BONDS. | NEW YORK, July 29 (Special).— Bank 4l Nov 1958.38 Bank 45 May 1958-38 Bank 4s Nov 1957-37 Bank 4us Jan 19874100 Land Land Land Land Land Land Land Bank 438 May 19420p33. Land Bank 4'3s Jan 19430p33 Land Bank 4%s J & J 1953 Land Bank 4135 J & I Land Bank 418 Jan 1956; & | Land Bank 43a'J & J 19530p33 Tand Bank 43%s jan 19540p34. .. Land Bank 43s July 19540p34. .. Land Bank 3s Nov 1941opdl. Land Bank 55 May 19410p31, | WOOLS ARE STRONGER. 2 | BOSTON, July 29 (Special).—An im. bt 2% 4% 7 3% 12% 40, 3% 15! 7| at 38; grease basis, half blood, ! portant feature of the situation in to- | day's wool market was the requests for prompt delivery and the slight strength- | ening tendency of prices on several | grades of domestic wools. Territory | combing clean was quoted at 96, French | combing, 92 to 93: half blood, 93 to 95; | three-eighths blood, 90: quarter blood, | 79 to 80. Fine Ohio fleeces were quoted 44; three-eighths blood, 44 to 45; quarter blood, 45. § ‘322,066,006 Is Lone Bid as Old Central By the Associated Press. ST. ALBANS, Vt, July 29.—The old Central Vermont Railway was sold today at a receivers’ sale to the Central Vermont Railway, Inc., a subsidiary of the'Canadian National Ratlway. ‘The purchase price was $22,000,000. Vernllont"Ry. Is Sold | Bid. Asked. | 89 91 For FEisler Electric there was an of- ficial statement that earnings for the first 6 months were at the rate of $3 a share and that the outlook for the rest of the year was bright. Confirma- tion of the reported consolidation of Blaw Knox and Union Steel Castings was expected in a statement, to be made public after the close. COTTON FRIC.ES STEADY AFTER EASY OPENING NEW YORK. July 20 (F).—The cot- ton market opened casy today at a decline of 7 to 15 points in response tn lower Liverpool cables and the labor troubles. October sold off to 1848 and January to 18.70 during the early trading. or about 13 to 16 points net lower. but there was con- siderable trade buying at the decline. and after the initial offerings had been absorbed. prices steadied on covering. A private report was issued placing the condition of the crop at 70.9 against a report of 72.7 a month ago. Cable advices from Liverpool said the market there waz Jower under London, Manchester and Continental liquidation, promoted by favorable weather reports from the South, but that business in cotton yarns and cloths was practically at a standstill owing to the stoppage of the Lancashire mil's January March May Qctober. October. December PR(:)DUCE EXCHANGE. NEW YORK, July 29 (®.—Flour— Steady: Spring patents, 7.80a8.30; soft Winter straights. 6.60a7.00; hard Winter strajghts, 7.00a7.40: rye easy; No. 2 Western, 1.21'3 f. 0. b.. New York and 1.19% c. i. [. export; barley firm: domestic 85% c. i. I. New York: pork, firm: mess, 3200: family, 37.00: lard. steady: mid- . 12.70a12.80; tallow, firm; spe- cial loose, T'¢: extra, T'a. MAY QUOTE U. S. STOCKS. HAVANA, July 29 () —The Havana Stock Exchange may soon be quot:ng American securities. An investigating committee has been named to consider the feasibility of such quotations. to increase_business on the Havana “Bol- sa” or Street. new... Others came down in the | ¢ | national Settlements will facilitate | reparations payments by Germany to | the_allied governments. The Young plan differs from. the | Dawes plan in that it places upon Ger- ! many the burden of making transfers. | s0 that in case of default the problem | might become a rather serious interna- tional one. Under the Dawes plan, no transfers could be made, which might bring about a. serious internationai credit situation. The Midland Bank believes that the elimination of the transfer clause of the Dawes plan increases the respon- sibility of Germany. but that it does not (an end in itself? in any way help her to increase her | capacity to pay. Simply Change Credits, Should Germany _“mobilize” her debts the effect would be merely to change her credits from governments to private investors. In view of com menls in financial and technical joui- nals in England since the plan was agrecd to in Paris, one gains the im- pression that the English banking and business interests are not at all sure the situation between debtor and cred- itor has been cleared up to any marked extent by swapping plans. They rather fear Germany's inability to meet the onditions laid down. And if she does, tilere s more chance for trouble and embarrassment under ihe Young plan than under the Dawes plan. Tt is significant that the United States | Secretary of State has said that while the International Bank, to be formed. js to have a elose association with the central banks of the world. the Federal Reserve Bank s not ta be officially tied up with it. nor fo coniribute financially to jis capital. The United States Government s, i taking no chances. Americans Hold Alaska. laska used to be a land of wild Indians, rough traders. ex-eriminals and Eskimos. Today fewer than half of the 55.000 population are of aboriginal Eskimo and Indian stocks. while more than half are of the whi race. A colony of transplanted Americans is holding this section. Think of it! Alaska is actually inhabited by Alas- kans! This revelation is given to us by Mary Lee Davis. herself an Alaskhn “Three-fifths of the unaboriginal siock are American born. a large percentaze being men whose fathers followed the Oregon and Santa Fe trails back ‘n the days of '49. Of the Alaskans who are foreign born, 41 per cent are Scan- dinavian, 27 per cent British and 10 per cent’ German. Nearly all of the remaining foreign-born inhabitants are French Canadians. Most of the Scandinavians are en- gaged in fisheries along the coast, while the French-Canadian element takes o prospecting and trapping. The Teutonic clement is evenly spread out, while the Danes, the Irish and the Scotch seem to prefer the inferior. Here. 4n truth, are the elements of empire, made up of divers peoples. In- dividiality has a chance for expression. and men are not the machines they be- come under our fast-moving industrial civilization. V. S. Sets the Pace. The leader sets the pace. mot only in sports, but in finance., And so the United States, as the léader of money market. almost automaticalls creased the discount rates of ail the central banks of the world when the Federal Reserve rates in the United States were increased to 5 per cent. Now it is expected that the Bank ot England rate may be raised shortly to check the outflow of gold from her country to’the United States and other countries. Of course a higher rate there will not help business. Quite the reverse. Eng- lish industry needs encouragement—not any new ‘“sales resistance.” Sterling has begun to show strength, above the gold voint in the market, and the French debt situation is clearing up. There is still good reason to hope that there will be no change in the English discount rate for three or four weeks yet. Europe these last few months has been watching the tightening morg? conditions in the United States with anxious eyes._ “Perhaps fhe Federal Reserve will lower its rates soon,” sigh the European sankers and business men in unison. But there is no immediate prospect. Blame for Tight Money. 3 Is the stock market to blame for tight money at home and abroad? This is the question Prof. Irving Fisher asks He savs there “are ample reasons for per Read Th;s ME’” e I'l) Guarantee It's Different *fakio ¥ 500‘ Ad‘vanc;e Fall Su.its $35-%40-%45 VALUES —anJ l mean ;t.’ $2 4.75 Snme }‘IEVG two pants—some have one. Now Read This Buy these susts at $24.75 and if you don't want them, ‘bring them back (un- used) September First, and I personally: will write you a check for $22.50 each. Furthermore: . B 1 . " You can buy 'em on the Famous aufman Budget Plan—Y,; Cash—Balance in 10 weekly -or 5 semi-monthly payments. P.S.—We Close All Day Saturd: A Shop Early in the Week . “Tune in' o0 the Biudget Boys and “Me" We}_; ‘WMAB, 7:30 P.M. | crease, last week's totaling 1.736 hogs- i and market holds firm at the fellowing | Shore. Va., parrel Irish cobblers | the | { the ! i | Sepremner PP L ik Gold remains a word to conjure with. . . Maren 5 vi. Each nation still feels that “all is lost™ just as soon as a few doilars begin to flow out of the country. ¢ (Copyright. 1929.) TOBACCO RECEIPTS GAIN. piember Decameer arcn Gars - iy 3000 Dee Maryland Leaf Demand Strong in Most of Grades, Epecial Disprtch to The Star BALTIMORE, July 20.—Rereipts of Maryland leaf tobacco eondinue to in- POTATOES STEADY. CHICAGO, Julv 20 (7 (United States Department_of Agriculture) —-Potatoer —Receipts, 125 cars. on track 345, total heads. againstssales of 1.362 hogshead !‘1 8. shipments Saturday 400. Sunday leaving a stock In State tobacco ware- oo, CaIS; trading just fair. market steadv; Tk brlE 58 osticss. Kansas' and Missouri sacked Irish cob- biers. best mostiy 1.90a2.05: few fancr. Demand continues very strong for 2.1022.15: poor. 165 up. Minnesora practically all grades at outside prices, sacked earity Ohios, 200a210; Eas quotations per 100 pounds: Inferior. 5.10. el 7.00a10.00; sound common. 11.00a20.00: good common. 21.00a30.00: medium 31.00a40.00; good to fine red, 41.00a 50.00; seconds. common to good com- mon, 7.00220.00; medium, 21.00233.00: Ov seconds. good to fine, 34.00a45.00: tire upper country barley nominal; ground per cent leaves nominal 102. SECURITY || Will you be secure in 20 vears? That ic & haid musction th answer, it ver can at least take precaution to be p A for that “rainr dsy"' by systematically saving. WILL RETIRE BONDS. FW YORK. July 22 The Willys- riand Cn. on September 1 will re- it $1.000.000 first mortgage 6 sinking fund cold honds & ‘The bonds are due in 1923 WE PAY o OR MORE on vour Open daily 9 to § oo Saturday until moon Sarvings NATIONAL PERMANENT BUILDING ASSOCIATION (ORGANIZED 1890) 949 Ninth Street N.W. st Below New York Avenue Under Supervision T, INDISPOS ‘I HE knowing woman no longer submits meekly to Treasurs regular, systemic suffering. This kind of pain is just as readily relieved as the occasional headache, or twinge of neu- or other aches or pains for which the world takes Bayer Aspirin. Try it for the days you dread and your gratitude will know no bounds. TFor these tablets are marvelously effective at such times, as nearly every business or professional woman has discovered. And physicians have declared there is no harm in their free use, for gemuine Bayer Aspirin does not depress the heart or upset the stomach. Any drugstore. Aspivin is the trade of Baver Manufacture of Moncaseticacidester of Salicel | vz; scenic Glacier National Park Y daylight on the de luxe companion flvers *o0 Portland and Puget Sound The NEW EMPIRE BUILDER T ZUXURIOUS For reservations phone or write EDMUND H. WHITL.OCK District Passenger Agent 504 Finance Building - Philadelphia, Pa. Phone Rittenhouse 3275-6 EMPIRE BUILDER leaves Chicago DATED iy oo (Canes) Sand The New Electyified LMOED dallz 11 . ( 7 Cascade Tunnel Route Fome) Sl ¥ fa i