Evening Star Newspaper, October 10, 1929, Page 13

FINANCIAL. IN BRISK TRADING: Market Points Upward De- spite Heavy Profit-Taking Around Noon. BY JOHN A. CRONE. Special Dispatch to the Star. NEW YORK, October 10.—Prices on the curb market, after the first hour, turned sharply higher today. Part of these gains were erased around noon on profit-taking operations, but the market increaced its uoward momen- tum later. Uillities and petroleums were the outstanding leaders in the advance, but industrials played a more prominent role on the upside than they have for D(gre than l’v\rek be - ospects for September copper sta- thucs.peschowmg np decline in refined stocks, proved bullish for red metal ghares. Most of the motors remained weak, while some of the newly formed investment companies, such as Marine Midland, encountered profit-taking. Electric Bond & Share repeatedly was hammered, but in the first two hours it was able to gain 51 points. American Superpower, Associated Gas & Electric, Electric Investors, American & PForeign Power, Niagara & Hudson Power, Hydro-Electric, Unitcd Light & Power A and Middle West Utilities moved higher. Cities Service common again opened &t a new high record. Directors of this company meet after the close today when terms about the rights offering will be announced. Standard Oil of Kansas, on pool operations, was twirled to a new peak. Humble, which has brought in a well that may open a new pool in Texas, likewise drew brisk bids. ‘The numerous new shares and rights admitted today furnished a considerable amount of transactions. New York Central rights, one of the most active of all securities, opened at $9. Root Refining, another newcomer, at timer Was up more than a point. Other shares admitted to trading in- eluded Allled International Investing, Cusi Mexicana Mining, Angus Co.. Chein Store Development Co. and Harpen Mining warrants. Special Dispatch to The Star. BALTIMORE, Md, October 10.— Potatoes, white, barrel, 1.50a4.00; 100 pounds, 2.50a2.90. Swest potatoes, bar- rel, 75a3.00. Beets, 100, 3.00a4.00. Be Cabbage, ham- Celery, 5. Oorn, d 10a25. Eggplant, hamper, bushel, .75a1.25. 1.2581.75. Onions, 100 pounds, 1.75a 2.10. Peppers, hamper, 20a30. Peas, 4.25 a4.50. Squash, hamper, 15a35. Toma- toes, hamper, 25a40; canners’ stock, bushel, 25a75. Turnips, hamper, 35a50. Apples, bushel, 1.00a2.00. Cantaloupes, hamper, 75a1.75. Grapes, basket, 40a 50.. Peaches, bushel, 1.25a3.25. Pears, “hnhmel. 2.75a4.00. Quinces, bushel, 1.00 Dairy Market Poultry, alive—Spring _ chickens, und, 25a30; thorns, 24a25; - old ms, 325a31. Leghorns, 19a21; old roosters, 18a20; ducks; 20a25; guinea fowls, each, 40a65; pigeons, pair, 25. . 885 cases: native 48 urr:%; receipts, PP . creémery, ; ladles, 35a36: rolls, a32; !’"’m' butter, 40a41; store packed, 30a31. Live Stock Market, Cattle—R~ceints, 70% heed; fair sup- ply: market dul’. Steeis, choice to prme. none; gsod $0 choice, none, medium to good, 11.26 to 12,25; fair to medium, 10.00 to 11.00: plain to fair. 9.00 to 10.00; common to plain, 7.50 to 9.00. Bulls, choice to prime, none; good #0 choice, none; me: to_good, 8.50 %0 9.50; fair to medium, 7.50 to 8.50: ain to fair, 650 to 7.50; common plain, 6.00 to 6.50. Cows, choice to prime, none: good to choice, 8.00 to 9.00; medium to good, 7.50 to 8.00; fair to ‘medium, 6.50 to 7.50; plain to fair, 0 to 6.50: common to plain, 4.50 to Helfers, choice to prime, none; ,ood to choice, none; medium to good. 200 to 9.50; fair to medium, 8.00 to ; plain to fair, 7.00 to 8.00; com- mon to plain, 6.00a7.00. Fresh cows and springers, 60.00 to 150.00. shur and lambs—Receipts, 1,000 head; fair supply, market active. Sheep, 2.00 to 6.00; lambs, 6.50 to 13.75. Hogs—Receipts, 100 head; light sup- ly; market steady. Lights, 10.80 to 1.05; heavies, 10.65 to 10.90; medium, 10.90 to 11.15; roughs, 7.55 to 9.25; light pigs, 8.00 to 10.25; pigs, 10.60 to 10.80. Calves—Receipts, 75 head; light sup- Ply, market lower. Calves, 7.00 to 16.00. Hay and Grain Prices. Wheat —No. 2, red Winter, spot, l.flq?fi No. 2, red Winter, garlicky, spot, 12615 October delivery, 1.26;: No- vember, 1.27%. Bag lots of nearby, none. Oargoes on grade, none. Corn—No. 2, export, September de- livery, no quotations; No. 2, domestic, yellow, 1.15a1.16; cob corn, 5.7586.00. Oats—No. 2, white, domestic, spot, #7; o. 3, white, domestic, spot, 56. Rye—Nearby, 1.00a1.10. ly—Receipts, none. Season for old hay is about over. A little new crop is arriving, but hardly enough upon which to establish quotations by grades. Where in good order mew hay sells at from 13.00 to 15.00 per ton, according to its quality and condition, receipts by truck taking care of most requirements. Straw—Little demand for straw. Re- ceipts generally ample. Wheat straw, No. 1, per ton, 9.00a10.00: oat straw, No. 1, per ton, 9.00a10.00. | NEW YORK COTTON. NEW YORK, October 10 (#).—Cotton opened steady today at an advance of 4 to 10 points on buying evidently in- fluenced by steady Liverpool cables, favorable cotton cloth statisties and prospects for unsettled weather ‘in the South. December sold up to 18.57 and March to 18.98 on the call, but the ad- | vance was checked by Southern hedg- ing and local selling, which caused re- actions of a few points after the open- ing. The trade bought on the setback. however, and the market was steady at the end of the first half hour. Active months showed net gains of abcut 2 to | 6 points, Ceble rdvices from Liverpool Yewr!fidJ eontinental buying with a cessation of Nquidation and h>dging and raid that home trade in cotton cloths was im- proving, but that the news from China -Was discouraging. UNFILLED STEEL TONNAGE. “NEW YORK, October 10 (#).—Un- filled orders of the United States Steel Corporation increased 244.370 tons dur- ing September, from 3,658,211 on c'ug\;u 31 to 3,902,581 tons on Septem- r 30. Last. month the figures for August showed a decrease, of 429,966 tons, from | 4,088,177 tons, the amount of ‘unfilled orders as of July 31. 'he unfilled orders on August 31, 1928, totaled 3,698,368 tons. TREASURY CERTIFICATES. ,:_ 33&? 'S >35> 8. 222220255 5 E B e 30 S e T 55 E § Amer Equttles 7 Amer 1Investor: e, 8 Anchor Post. Fe; I e Ridge evi pfd L &P 6 Brit-Am _Tob Bulova Wi 2 Commereial Iny 11 Commonwith EBd..... 2 Commonwith Ed ris.. 3 m 12 Cons_Auto Mer vic Co Dairy P. steel Prod . Fedders Mis A inancial Inv' N 2 3 2 Insur Shares A 3500 000 4 0 e A A et a9, - L5 ol i b p b S8R0 gy 83 5 Pennroad Corp vic. Fennroad Cor vie e g Lum rts ble Btores Corp. Reyonlds Bros Itc land L&P (Rupgited by J. ‘& W. Seligman & Go) ;fi'.f;m“f 15, To2e 9936-32 99328-33 i i Int Inv cv pfd wi 40% ha Port Cem...... 1l o e 1083 8% 238LER 52! E SE2_ Seeaneny ZSueuwsrauasta Sic el uEu-suc e saugEUg nyde D18% id 41% sid it B a3is | 588 RERERE.L R RS 5 E 3. NBRIERERS A !the committee’s program calls for a i THE EVENING STAR., WASHINGTO. . CURB SHARES GAIN | [NEW YORK CURB MARKET oo v oo ni_Shoe 8 8 gggggggaanag - hundreds. 8 Ariz_Globe C. 10 Bwana MeK: 2 Gold Coin . 2 Golden Cenier M. 1 Goldfid _Con: Hecla Min . Cop oan Anteio 2 Shattuck Denn 3Utah Apex . 3 Walket Mines . B% 5% Sales INDEPENDENT OIL STOCKS. in hundreds. 1Emp G&F 7s cui B sl Emp G&F 8s cum pfd 104 I Pa 193 1N Y Pete Ro; 1Pandem Ol . 8 Pantepec Ol 1 Reiter-Foster Of Sales STANDARD OIL ISSUES AND FOR- in units. “ MER SUBSIDIARIES -STOCKS. 600 Humble O & R...... 1193 1173 119% 001l P L.... I 30334 303% 303% 2008 O Ky n 1500 Vacuum Ol Sales in' thousands. 13'Aln Po 48 © Ala Pow 5a 02 lum Co Amer bx ‘53 100! lum Ltd 38 48...... 95 m Gas & El S5 20 m Gas m Commonw s 7.d.. 118 1 £ 6 2016 10414 1y s i sn Bava oS 5 33322 3 :'gnn 3 Cen Bta Kl i & Nor Ry 435 t Serv_Gas 5'a8 a. Bewa S e oD o0t 9 99999900 .-Eng" as 6128 Pas N Gas 8'4s irban Morse 55 d Wat Ser 8 Firest Cot Mil Firest T& R Fla P &L Ss Gatineau Po 5 Gatineau BGe A In 5% A 3 Gen Ind Alco 8 § Gen Thegters 6 T eoriia B0 s 1Gulf Oil Pen 85 32 Guif' Oil Pen Bs '47 sl £ Washington Ticker By the Associated Press. With an increase of its membership by a score of leading manufacturers and consumers of lumber this week, the national committee on wood utilization is contemplating elaboration of its cam- paign to eliminate wastes in forests and to elevate the standard of timber products placed on the market. “The committee in recent months has rmulated an ambitious campaign to ‘bring about a wiser and more efficient use of wood and forest products as a means of advancing commercial re- forestation.” In the opinion of its members, the American lumberman -is wasting much of the timber cut down and this waste .is one of the major causes of preventing commercial Te- forestation. The committee has studicd many of the methods, employed in Europe, especially the Scandinavian group, in the bellef that they can be well borrowed by the United States. seems likely to be heavy. The cane Crop sugars are now coming on One of the most valuable studies conducted by the committee, was dis- closed today to be tests of the Scandl: navian gang saws, a system which per mits the closer utilization of wood, as this method of sawing can be operated upon smaller logs and short Ien!th wood to better advantage than the present machinery operating in most American sawmills. The tests, which so far are sald to have been highly successful, may result in revolutionizing the forestry methods now existing in this country in the opinion of a num- ber of the committee members. The roblem of America’s lumber is out- ined by Axel H. Oxholm, director of the committee, as follo “Our annual timber cut far exceeds growth, yet only about one-third of the standing tree is now utilized. Re- forestation therefore is generally un- profitable Better utilization of the tree will reduce the drain on our forests and will make it possible to maintain a continuous supply of forest products at_reasonable prices. If smaller logs can be used, and also smaller portions of felled trees, Mr. Oxholm_explained, the timber grower can realize upon profitable cutting of wood in 15, 20 or 30 years instead of the present wait of 75 to 100 years. The director says there are many and saving of 20 per cent wood products now being wasted. Of the present wasted lumber, he cited the smaller limbs and logs which could be used for pulpwood and sawdust. The com- mittee at present is making an inten- “ |survey in Virginia, North Carolina and 4 | the_ committee has mapped out a com- +iand faulty lumber. Through the ‘use b3 | campaign also is being weged to bring the inion of Willlam 8. Quinter of o wm?fi;wn. sive study of wood wastes in each of the timber-growing States of the Ni tion, having already conducted such at present in Maryland. . For the protection of the consumer prehensive program to eliminate shod- dy practices in bullding construction of grade-marked lumber the committee believes the consumer will receivs strong protection against poor products. A about proper seasoning of timber in the belief that this is a factor tremendous- ly affecting the consumer, The betterment of construction ma-} terials is an, objective which s of highest 1mportance to the banker in representative of the United States League of Building & Loan Association on the body. “The banker is interested in the use of the right kind of lumber in building construction,” he sald, “Good materials mean better buildings, which in turn strengthen the security offered the loan- ing agency and a larger loan would be Ju.!stdlfled where grade-marked lumber is used.” | American agriculture apparently has i taken an upward step toward attaming good economic conditions on the basis of the Agriculture Department’s gen- eral crop report as of October 1. The ain of 2 per cent in crop prospects rough favorable weather conditions in |!ept4mber has heightened the Lopes of the farmers for a good return this year as favorable prices are being mi.ln- an business o about the crop situation, but|Ror the present indications of higher ylelds | Du: in corn, Spring wheat, oats, barley, flax- be! tained fairly luld.ll‘ d generally. w seed, rice, hay, beans, peanuts, sweet potatoes, tobacco and sugar cane and sugar beets are looked upon as clearing the situation somewhat. Simultaneously with the issuance cf the crop report, with its optimistic trend, Secretary Hyde has. summoned a ¥ F SF SR2SS3383a 532! g og. :5"«.” ( 72 T 68 83 . a8 A '32 98 55 "54 A 1ud% 104% 55 A '83.. T8 8 & Co 6s ' 6 Ut P&L 68 '59.. Sales in FOREIGN BONDS. thousands. 1 Buerios "Aires 7s '52.. 98 nta Fe City 7 dividend NEW CROP SUGARS READY FOR MARKET BY J. C. ROYLE. Special Dispatch to the Star. NEW YORK, October 10.—The Cu- | ban centrals and the beet sugar fac- tories are preparing their equipment for the production of the major portion of the sugar supply of the United States for the coming year. Within a brief time, the knives will be slicing through the Cuban cane and the mills will he grinding. In November the sugar beets will be going through the factory knives. There seems little doubt that the sugar supply will be heavy. There is no government restriction on the size of the Cuban crop this year. The weather in the island so far has been fairly advantageous. It seems probable that crop of between 4,500,000 tll‘:d 5,000,000 tons could be produced ere. Stocks of sugar on hand from var- fous sources now are approximately 15 per cent larger in the United States and Cuba than at this time last year. The beet sugar yleld of this country Lousiana the market and the crop shows an estimated gain of 85,581 tons to a total of 217,600 tons. The harvesting of the European beet sugar crop has just start- ed and sugar from this source is now coming_on world markets. ‘The European yleld is large, if acre- age reports are to be taken as a basis of measurement. The Japanese, Argen- tine, Australian and Natal crops show a slight galn over 192 according to latest estimates, with a total (includ- ing the American beet crop) of 5.071.- 000 tons, These factors would tend to indicate a heavy supply all over the world, with consequent low prices for raws. There are, however, certain fac~ tors which may serve to cut down stocks and supplies and have a strengthening influence on prices. . The first of these is the remarkable advance in consumption. Consumption has unquestionably been strengthened by the low prices which have prevailed. Americans bought and used 3,009,377 tons in the first six months of this year. It is more than probable that this rate, which was a gain of 13.35 per cent compared with the correspond- ing period of 1928, will be still further increased in the last half of 1929. The amount of sugar used in soft drinks and confectionery is always heavier from June on. The fruit crop is har- vested in greatest volume in Midsum- mer and canning operations are at their peak at that time. The Christ- mas holidays always give candy de- mand a push upward. CHICAGO LIVE STOCK MARKET CHICAGO, October 10 (#) (United States Department of Agriculture).— | ‘Hogs—Receipts, 26,000 head, including 5,000 direct; mostly 10 to 20 lower on hogs scaling under 220 pounds; heavier wef'hu steady to 10 lower; top, 10.25; bulk, 170-220 pounds, 10.00a10.20; pack= ing sows, 8.00a9.00. Butchers—Medium te choice 250-300 pounds, 9.10a10.25; 200-250 pounds, 9.50 a10.25; 160-200 pounds, 9.65a10.20; 130~ 160 pounds, 9.15a10.15. Packing sows, 7.9029.10. Pigs, medium to choice 90-130 pounds, 8.75a10.00. Cattle—Receipts, 8,000 head. Calves— Receipts, 2,000 Head; yearling market 25 higher; very active at advance; most- 1y 50 to 75 up for week. Desirable light butcher heifers sharing advance; weighty steers slow; dull and weak; top, 16.50 paid for long yearlings. Slaughter classes, steers, good and choice, 1,300-1,500 pounds, 12.75a16.35; 1,100-1,300 pounds, 12.75a16.50; 950: 1,100 pounds, 12.75a16.50; common and medium, 850 pounds up, 8.50a12.75; fed yearlings, good and choice, 750-950 pounds, 13.25a16.50; helfers, good and choice, 850 pounds’ down, 13.00a15.00; common and medium, 7.75a13.00; cows, good and choice, 8.25a10.50; low cutter and cutter, 5.25a6.50; bulls, good and choice (beef), 8.65a10.00; cutter to me- dium, 6.7528 25; vealers (milk fed), good and cholce, 12.50215.00; medium, 11.50a 12.50: cull and common, 7.00a11.50: stockers and feeder steers, good and choice (all weights), 9.75a11.50; com- mon and medium, 7.75a9.75. Sheep.—Receipts, 22,000 head; market active, steady to strong; native lambs, 13.00 to 13.25; early top, 13.60; rangers, unsold; fat ewes, 4.50 to 5.25; feeding lambs, steady, 12.75 to 12.85. Lambs, and choice, 92 pounds down, 12.60a13.75; medium, 11.25812.60; cull and common, 7.50a11.25. Ewes, medium to choice, 150 pounds down, 14.0005.50; cull and common, 2.25a4.00. l!‘!eez%er lambs, good and choice, 12.00a GERMAN BONDS AND STOCKS. Epecial Dispateh to The Star. NEW YORK, October 10.— Jer Govt Red Loan with drawing >+ Atked: Ctfs attached per 100 R M... Ger Govt Re Loan _without £ ohboo R m 00 [ mand_slow, market d ers have been | Hamb: 25 sgussss 2 A E G (German Ge Elec) b Commerz and Priva. Bank I G Farben arl < Disconto Geliich Resliner Handles. Dresdner B .,.u. sozgsemssszs 25w R3S IE i MARINE PRODUCTS | OUTLOOK IS GOOD Dealers at D. C. Market Ex- pect Plentiful Supplies at Week End. 4 Plentiful supplies of marine products are promised by dealers at Municipal Fish Market for the Priday and week end trade. Boston dealers did not send very heavy supplies today, but Chesa- peake Bay and tributaries gave up fish enough to netters to supply the market with enough of the finny tribe to supply demands, Swordfish, leader of reccipts from Boston, sold at 35 cents a pound, being th> most expensive fish on the market. Halibut_and salmon were quoted at 30 cents. Haddock were offered at 12, pol- lock at 10, fillet of haddock at 22 and cod at 18 cents a pound. Fishermen along the Chesapeake Bay and tributaries supplied local dealers quantities of trout that were offered at 10 cents & pound, many of them coming from the Rappahannock River, Other fish from water netters included the following: Norfolk spots and croak- ers, 121, cents; flounders, 15; bluefish, 20, and rockfish, 20 and 25 cents. Fish Receipts. Perch, carp, catfish and eels were the fish received from Potomac River net- ters, the carp selling at 20 cents a und, being the most expensive of the our varieties. White perch, not very large, and ecls were quoted at 15 crnul a pound and the catfish selling at 8 cents. Th:re were plentiful supplies of hard crabs offered this morning at $4 & barrel, but the demand was re, very light. Soft crabs, not very large, were offered around $1 a dozen, W crabmeat was quoted at 50 and 60 cents a pound. Dealers also reported having plentiful supplies_of oysters to offer the retail trade this morning, both shell and shucked stock. Shell stock sold around $1.50 a bushel. Selects, shucked stock, were quoted at $2.50 and standards at $2.25 a gallon. Clams were $1.75 per 100. Egg prices continue to ascend. ‘There seems to be no particular scarcity of the product of the hennery, according to dealers, and fairly heavy receipts from the West continue. As the Thanksgiv- ing and Christmas holidays approach, however, the demand is certain to in- crease, dealers say, and increased prices usually follow. Strictly fresh eggs are not particu- larly plentiful, however, and consumers seem willing to pay a premium for them. Hennery stock this morning was quoted at 52 and 55 cents, retailers asking 60 and 65 cents for them. Fresh selected stock was quoted at 48 and 50 cents, while current receipts were slightly lower. Other Prices. Butter prices were unchanged, yes- terday's prices prevailing today, but the market continued firm. A slight easing of poultry prices was reported, while prices of meats and other com- modities were substantially the same as prices quoted yesterday. Commission merchants continued to have attractive displays of fruits and vegetables to claim the attention of re- tailers, papayas being the latest addi- tion to the collection of Florida fruits. ‘They were received only in small quan- titles, however, and did not find quick sale at $3 a box. Supplies of vegetables from nearby Maryland and Virginia continued fairly heavy. Demands were anything but brisk, however. while prices remained unchanged. There was not much green corn received this mornine, deslers re- ported, the season's crcp being almost exhausted. Today's Wholesale Prices—Jobbers’ Prices Slightly Higher. Butter—One-pound prints, 47a48; tub, 46a47; store packed, 30a32. Eggs—Hennery, 52a55; fresh selected, 48a50; current receipts, 43a45. Poultry, alive—Turkeys, hens, 35; toms. 33; Spring chickens, h?e, 27a28; broilers, 30; Leghorns, 20; fowls, 28; Leghorn fowls, 22a23; roosters, 22; ducks, 15a30: keats, 60a70; old, 35a40. Dressed—Turkeys, 40a42; S g chick- ens, large, 37a38; medium, 35a36; broil- ers, 37a38; Leghorns, 35; roosters, 24a25; ducks, 28a30; keats, 80a90. Meats—Beef, 20a23; veal, 26a32; lamb, 26a27; pork loins, 32; fresh hams, 25a28; fresh shoulders, 20a23; smoked hams, 26a28; smoked shoulders, 18a20; lard, in bulk, 14; in pack- ages, 15. v Live stock—Calves, 15; lambs, 121,813, Fruit and Vegetable Review. ‘The daily market report on fruits and vegetables, complled by the Market News Service Bureau of Agricultural Economics, says: Apples—Supplies moderate? demand moderate, market steady. Bushel bas- : Pennsylvania, U. 8. 3 i 2%-inch Grimes, 1.75. Virginia, 8. No. 1 2% inches up Grimes, 2.00a 2.25, few higher: unclassified, 2% Inches, fair color, 1.25a1.50; U. S. No. 1 2'; inches up Delicious, best; 2.50a3.00, few 3.25: Yorks, 1.75a2.00; 3 inches up, 225, few 2.50; unclassified, 2!, inches up, 1.25a1 tion, 1.0 poor quality and condi- 8. No. 1 2} inches up ?';o}'mlm. .75a2.00; 3 incles up, 2.25a Cabbage—Supplies moderate: demand light, market steady. New York, 90 pound; sacks Danish type, 1.7582.00; 100-pound sacks Danish type, 2.002.25. Pennsylvania, 100-pound sacks Danish type, 2.00. Celery—Supplies light; demand mod- erate, market dy. 'New York, 24 crates early varjeties, best mostly ;r‘%und 2.25; fair quality and condition, Grapes — Eastern stock: Supplies moderate; demand slow, market dull. New York and Michigan, 12-quart climax baskets Concords, U. 8. No. 1, 50a55, mostly around 55; New York, 2-quart climax babkets Concords, Niagaras and Delawares, 18a20; Penn- sylvania, cartons containing 12 2-quart climax baskets Delawares, 2.50a2.75, mostly 2.50. rn - stock about berg type, condition, Onions—Suppli light, market stead medium to large size: New York, 100- pound sacks, yellows, 2.002.25; Michi- gan, Indiana and Ohio, 100-pound sacks, yellows, mostly around 2.25. Potatoes—Supplies liberal; demand moderate, market steady; Maine, 150- filand sacks, Cobblers, U. 8. No. 1, 4.26a Sweet potatoes—Supplies moderate; demand moderate, market steady; East Shore, Md., ‘cloth-top barrels, yellows, No. 1, 3.25a3.50. . Stri beu.m—supp]m mm:&: de- sec- tion Virginia, bushel hampers, green, fair quality and condition, mostly around 1.00, few higher; poorer, 50 East ., bushel hampers, best, mostly ;r;smd 3.50; poor quality and condition, ‘Tomatoes—Supplies moderate; de- mand moderate, market steady; nearby Maryland, }2-bushel hampers, 75a1.00. American Sugar Refining Co. NEW YORK, October 10 (#)—Ear] D, Babst, chairman of the bflm of th THURSDAY, OCTOBER 10, 19%9. 73 o ‘Gollnmodlty Notes Epecial Dispatch to The Star. A Live Stock. FORT WORTH, October 10.—Cattle feeding will be more general in Texas this year than last. Ol is selling gen- erally for $46 per ton in car lots. However, Winter grass is strong and plentitul and will be sufficlent to sus- a uf le Toredae”in the. Humb number of herds that aré heing ed for market. Steel. CANTON.—The Central Alloy !um:l ths, will be utilized to promote the use of nitraloy, one of the important being produced by the com- ny under Krupp patents. When case- rdened by the new process nitraloy becomes the hardest known steel sur- face, it is claimed. Packing. House Products. CHICAGO. — Demand for leading meat lines is good, but supplies also are heavy. This is especially noticeable in beef and has reflected itself in lower prices. Fresh pork and smoked meats are in good demand. Coal. ‘WILKES-BARRE, Pa.—Miners in the Pottsville region are mostly working | taking full time to meet the spurt in anthra- cite demand. If this trend keeps up, it is estimated the miners will have $2,- 000,000 more to spend at Christmas than last year. GRAIN MARKET. CHICAGO, October 10 (#).—Notwith- standing initial upturns in wheat prices today, wheat soon declined, largely as a result of sympathy with corn market weakness. Depression of corn values was ascribed to the fact that the Gov- ernment crop report indicated a decided increase of yleld compared with what was expected a month ago. _Starting unchanged to 7 higher, wheat afterward went well below yes- terday’s finish. Corn opened % to %a 1 off and subsequently showed an ad- ditional drop. Oats were easy, Pro- visions also slanted downward. Further adverse wheat crop reports from Argentina today included men- tion of frosts in Santa Fe and Cordoba Provinces, where the outlook already was poor as & result of drought. There were also estimates that the Argentine exportable surplus of wheat from this ml"l crop would be 70,000,000 bushels than already has been exported to date from last year's production. Some showers were noted today in parts of Argentina. i Corn traders today practically ignered all aspects of the Sovmment crop re- rt except the forecast of 72,000,000~ 1 increase of production. Compared with last month's official figures, the increase was materially in excess of private estimates ‘issued in October. Rainy weather over the corn belt today failed to act as much of an offset to the Government crop report. By the Associated Press. NEW YORK, October 10.—New se- curities offered today include: Westfleld Manufacturing Co., 45,000 shares no-par common stock, at $36 a share. Offered by Millett, Roe & Co., Jackson & Harris and others. New York Central Railroad Equip- :l:rnt 1@“‘:& of 19‘7'+r:.1tom‘,ooo 4! cent Equipmen gold certifl cates, to be dal April 15, 1929, to ma. ture April 15, 0, to April 1! priced to yield frof cent. Offered by $5,000 res; $5 par value common stock. Priced at $30 a share. Offered | Ge y F. A. Willard & Co. and Am¢ - erich & Co,, Inc. o Chain Stores Development Corpora- | & shares tion, 100,000 common stock. Priced at $14 & share. Offered by New- ton & Townsend,’ Investment Securities Corporation and Love, Bryan & Co. Central-Illinois Securities Corpora- tion, allotment. certificates for 400,000 units, consisting of one share of $1.50 convertible preference stock and one 25150 S umie. OReved oy in .50 a 3 e the Cen- tral-Tllinois Co. ¥ G R 0 s 13 25-F - FRIDAY ONLY Take advantage of these high-grade items . . . the reduced prices are special one day, Friday, only. Very Special—A Group of Regular $35 Topcoats 817795 Broken sizes, but all sizes in one *_ pattern or another. No C. O. D/'s —No Charges—No Alterations— No Exchanges—No Deliveries. Regular $2.50 & $3.50 Fancy and End-&End All the pastel _shades—all . sizes, 13%; to 16%. - All sleeve lengths. " GROS Corporagion 3 Shign l!uda‘i::l i‘:n&hr-kuuell Law, Inc., we—mee FINANCIAL. FOREIGN LOANS LOSE -[TRADE GAINS SHD FAVOR IN AMERICA High Money Rates Preventing In~! vestment in Dollar Bond Is Special Dispatch to The NEW YORK, October 10.—A few days ago a loan made in 1927 by one of the talian cities with an American | banking gmup matured. It was neces- sary to extend it and to take it up with the bankers who originally it it thmu!h. ‘They asked a rate of 915 per cent for renewal. To this the munici- val authorities of the Italian city de- murred and subsequently made a loan with one of their own banks at 7% per_cent. This emphasizes the degree to which high money rates in this country have curtailed foreign financing and also the extent to which foreigners are refund- ing in their own currencies matu#ing dollar issues. This has been done on quite a large scale this year by Scandi- navian borrowers as well as by the Dutch. Even German municipalities have found it more economical to take out short term loans with their own blpkers at relatively high rates, but on bciter terms than lhei' could sell long bonds at a discount in the American market, The latest figures of foreign govern- ment and municipal financing in_the United States illustrates what has been king place on the other side in the way of arranging for necessary finan- cing in comparison with what occurred FLere up to the middle of 1928 in secur- ing required capital from American in- vestors. In the first eight months of this year the total amount of foreign gov- ernment bonds issued in the United tates was under $60,000,000. This com- pares with approximateiy $543,000,000 in the same period of 1928 and $517,- 000,000° in the first eight months of 1927, Foreign financing this year has been less than 9 per cent of all bond or note offering that have come into the American market, whereas in the same mx;xt;u olt lm. it wwn:lover 25 per cent early uivalent of by the public u:&luen R Not only in loans to f ments and munici) been a contraction, but in those to for- eign corporations. For the eight months the latter were $300,000,000, compared }v’i;g $450,000,000 in the same period of No change in this situation is looked for until two radical departures from ! present conditions take place. The first | is an improvement in the American cided rally In prices of all Toreign dei- o ly ices of all fore! - lar bonds. E il So long as individuals and corpora- tions can obtain from 8 to 10 per cent in the safest form of investment that could make—namely, collateral loans—they will not be greatly inter- ted in second or third And until the great mass of foreign issues l’""" here between the early gn of lfl'!nnul;dm:he middle of llz lows some T, a steady uepmuuunw?emm week to week, th:hy. will no% offer much attrac- tion to tutional b good yield but at the same time a fair guarantee that his capital investment is moderately secure. SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) llis-Chalmers Alumins % Am. dian Nat! Ry. 4 dian_Nor Rwy. k) Sa 1. Host. Gen. Mot. Accep. General Pet. 3 53552 32333388858 83233833833 Gulf ?fl of Humble Oil Blas 1 PRt : mu‘fn Petroleum 8V Pure Oil Corp S§ls 1937 Shell vnlg;:n ) ‘IM .. S Uni United Drug Co 8s Wheelian Steel Corp. ‘3143, 1048. 883 N: E R STREE T One-Day Specials Madras Shirts 75 Three for #5 BY U. S. STATISTICS i <% By the Assoclated Press. -t Increases in both expotts and Imports of merchandise for August and the first eight months of 1929 over corrésponding periods of last year were reported today by the Commerce Department. Exports during the eight months of this year were $271,261,490 greater than the corresponding period of 1928, the figures being—1929, $3,407,239,518, and 1928, $3.135,978,028. Imports ined $258,976,638, with $3,000,471,976 for 1929 and $2,750,459,338 for 1928." For August imports recorded a sub- stantial increase of $22.814.886 over August, last year, with $369,529,920. Ex- rts increased $2,358,500, with $381,- 64,779, as ¢ .npared to $379,008,189. PROFITABLE 6']_0/ Mortgage Bonds of 2/0 the Federal Se- curity & Mortgage Company bear a $6,000,000.00 guarantee and are secured by conserva- tive mortgages on home prop- erties. In these days of changing values the best investment and most profitable is a well se- cured Mortgage Bond, carrying as it does that very rtant feature—Safety of principal, as well as an assured interest re- turn. Federal Security Mortgage Co. 1522 K Strect NW ‘Washington, D. C. —as The Metropoli- tan has to its credit, speaks volumes for the permanence, strength and standing of this veteran bank. A “Metropolitan™ connection en titles you to the maximum in banking service. 3% Paid on Savings National Metropolitan 15th St. opp. U. S. Treasury Guaranteeing ‘Satisfaction A “WORK ORGANIZER SHOULD BE ON-EVERY EXECUTIVE’S DESK The Trade Mark A Clear Desk Facilitates Business Unhampered thought and best efforts result when there is no distraction. The executive increases his own efficiency and speeds his work by proper use of the Work Organizer! aieble snd poodin o av. i y tematized. = You fi efficiency automatically. Several styles and si —attractively reasonable price. 5 INVESTIGATE! Phorie National 91 NEIRS : 1325.F- STREET $