Evening Star Newspaper, November 15, 1929, Page 15

FINANCIAL. + STOCK PYRAMIDING | BLAMED IN CRASH Business Analyst Declares No Long Trade Depression Is in Sight. BY JOHN F. SINCLAIR. Speelal Dispatch to The Star, NEW YORK, November 15—-“Per- sistent pyramiding far beyond the values of dozens of the market lead- ers at a time when the credit stram been continuously aggravated by the rapid formation of holding ana trading companies of immense capi- talization.” Such is the explanation of the stock market smash given by John Moody. well known business analyst, whose re- ports have been an important part ot the business records of the United States since 1900. | “Yes, business is bound to be affect- ed by it, even though basically condi- tions are sound. The smash will tend reces- Future of Business. “The future for business—what is in store?” 1 lied : » “Credit growing easier—not more strained, such as occurred in the panics of 1893 and 1907; an abundance or money and credit at low rate before 1930 gets well started; renewal of in- terest in sound security buying, accom- panied by a decrease in equity buying— that is to say, from stocks to bonds.” Mr. Moody paused a moment ana then said there would follow: “Long periods of duliness on the stock market, with one and two million share days, rather than seven ana eight mfifim No major or serious business depression of any h is in sight. In other words, we 1 return to the first principles, which we have largely lost sight of in the last five years, with safety of principal return- to the first place in the investment and the rate of return moving back into_second place.” When I asked how long the busi- ness recession would last, Mr. Mooay id: “Before the year 1930 closes a definite upward mndyin business will be wit- nessed.” Companies’ Buying of Stock. “Should a company, in a stock mar- p‘yswckbynkm‘lu tock on the 8! iyl ‘money, g P, kind case. ggfie‘ i EE? roar of the modern machine for one who has creative ability to use it or have it brought out? Does the ma- chine age te does it imitate? ‘Will Amgrica in the future merely copy et of '.I'! 1d ‘:fl‘l‘h hlvz its ‘world or = leaders in the field? el CHICAGO LIVE STOCK MARKET CHICAGO, November 15 () (United States Department of Agriculture) — Hogs—Receipts, 33,000 head, 11,00 direct; market opened 10c to 20c lower; later trade active at 10c to 20c decline; top, 9.25, mostly 9.00 to 9.20 ARt o o O 140-1' ul wel , 8. ; pl)umllum to choice, 250-300 5 to 9.25; 200-250 pounds, 8.85 to 8.25; 160-200 pounds, 8.65 t09.15; 130-160 pounds, 850 to 9.10; B0WS, ’Lw“'an 0,50‘; ;;ln nulgdlm o , 90~ , 8.0088.85. chg‘“‘fih—mm 1,600 head. Calves— 1,000 head; trade on all classes, a = “mi:wl;m:filev:ue?hln slaugh: mand vies sf 3 - dbes, s ‘and cholce, .25; 1,100~ choice, heifers, good and choice, 850 down, 13.00a15.00; common and 7.5 and good and 750-950 pounds, 13.23 al15.78; Tedium, ; cows, choice, 7.75a10.25; common and medium, asked, and Mr. Moody re-| 6.1587. low cutter and cutter, 4.85a 6.15; bulls, good and choice Cbeel), 8.75 210.25; cutter to medium, 6.50a9.25. Vealers (milk fed), good and choice, k 3 an . and choice,‘;l‘l common ; market active; 2.50812.75; top, Al feeding mon, 2.25a4.50; feeder lambs, good and cholce, 12.00815.15. A movement for more attractive office buildings has been started in flf ~Prev. High. s1 7 481 14% Aero Underwriter: 5% Aero Sup Mfg. B. 22% 3314 174 4274 247 399 8% 18% 16% 87 1% 95% 25% 18 16 50% 190 24 64 8% 12% 449% 210% Comwth Edison (8). 103% 88% 21% 2% 38% 44% 18 160 4% 2% Cus! Mex Mining, 26 34% 17 Davenport Hos 46% 642 310 Deere & Co (6). 5% De Forest 26% 10% 1 17% 30% 42 1% 20 324% 20 12% 12 110 109% 24 Alexander Indust 1929 Low. Stock and Dividend Rate. Add Aeronautical Indust, 201 22% 22% 124 16% 110 110 119% 119% 3 3 Alnsworth Mfg 12 Alr Investors con pf Alabama Gt Sou 17. Alabama Gt S pf 17 5% Allegheny Gas Co 10% 7 % 146 103 9% 20 29% 10 18 22 w 19% 1 314 W 3 190 % 5% 23, 10% 15 8 8 14 11 1015 60 17% 09 an 35% 31 3 30% 25% * % 304, ™ 16% 20% 12 30 46% 144 g5 30 57% 10 BlissCo (BW) (1).. 8% 23% 25 13% 1% 26% 4 56 22 3% 14% % 4 3 1% 3% % 3% 3 29% 5 48 20 80 Celan Cor st pf 12 Celluloid Corp 9% 20 10 3% 40 Colgate Palm P (3.4 4 25% 16% 3 93% 10% 14% kel 20% Con Gas Ut A (2.20)» 13% 4 n 12% 11 10 30 6% 4% 5% 2 5% ® 4% 4 Dolores Esperanza.u 50 90 37 4 120 3% Durant Motor: 1% 213 East Gas & F AsS0. 14% East States Power B. b § 49% 14 3 Chilas Co pf (7). 778 10° Citi 0 Allled Mills, Inc 238 ,Allied Pow & Lt All P& L 1st pf Alllson Drug St B Aluminum Co of A Alu Co of Am pf(6) Aluminum Co., Ltd. . Alumin Goods (1.20) Am Cit P&L A (a3).., Am C P&L B (b10%) Am Com P A (130¢). Am Com P B (130¢). AmControlOilFlds. . Am Cyanam B (1.60) Am Gas&Elec (31).. Am Dept Stores..... Am Equities. . . Am For Power war. . Am Invest Ine B.... Am Investors (war). Am Lt & Trae (10).. Am Maracatbo. Am Natural G Am Pneumatic Serv. Am Solve Am Superpower. Am Super 1st pf (6). Anchor Post F ($2).. An-Am vot ¢od (36c) An-A n-vot cod (35¢) Apex Elect.ical Mfg. Apponaug Co (2). Arcturus Rad Tub Ariz Globe Copper Arkansas Nat Ga: As30 GEE A (32.40), Ass0 GEE A deb rt: Aeso Rayon. Asso Rayon pf Atl Coast Fish(1. Atlant Fruit & 8i Atlantic Lobos. Atlas Port Cem Auto Voting Mach Aut V Mcvprpt ( Aviation Corp of Am Aviation Credit..... Axt F Tob A (3.20) 33% 33% Bancomit (new) wi, 2 48% 48% d48% 48% Bell Tel of Can (8).. 268 149% 149% 149% 149% Bellanea Atreraft. .. 2 6% 7 6% 7 Blaw-Knox Co (1) 24% 24 18% 18% 1914 8900 1 1 N0 e 1 Blue Ridge Corp. . Blue Ridge Corp pf.. Borne Scrymsr t2%. Brazil Tr & Lt (2)... Bridgeport Machine. Brit Am To regt1.20. Br Celanese Ltd rets. Buckeye Pipe L (15) Buf N&E P pf (1.60). Burma rcts (313%¢). Butler Bros (2). Bwana M Kub! Cable R T vte. .. Cab&WireLtdA re Cab&WireLtdB re! Cab&WireLtdpf rets CAMCoctfs....... CAMCocumpf.... Can » - P LT TSP TR+ 1 Carnat Milk P (1%). Carnegle Metals Caterpillar Trac Celanese Corp. . meomanelnnatasnan BYh 0 % % % % 7% 107% 107% 107% 29 30 28% 30 86% 87 8% 8% 17% 17% 4% 4% 45% 4414 6% 5% 25% 25% 22% 24% 22% 4% 4% 4% 4 24s 235 236 231 233 99 99 29 29 7 jervice (130¢) 41 Citi erv pf (6)... Cit Serv pf B (60¢).. Clev Tractor. . . Club Alum Uter Colon Ofl...ecvnsaee Colts Pat Fire A (2). Columbia Pictures. ComwlIth & Sou war. @ - Barem e o Comwlth Pow pf (6). Comwl Ut B (350¢).. CommuntiyWatServ. Comstock Tunnel. Consolidat Afreraft.. Consolidated Copper Con Gas Balt (3).... Con Dairy Prod (32). o) Con Retatl Strs (1).. Continental Ofl.....1 Cooper Bess pfA(2).. Sulasalonvatlanaanan~ (o] Darby Pet (1). Dayton Air & Eng, S eoseny cote Radio. De Haviland (50¢c) Derby Ofl & Refl Detrolt Atrcraft Cor, Dix Gas @& Utilities. . Doehler Die Casting. 112 11: 1% 17% o1y | 3vytide Dow Chemical (3)... 8 60% 60% 60% 60% Dow Chemical p£(7) 1708 100% 100% 100 100 Driver HarrisCo.nev 6 35 .40 35 40 Dubelier Cond&Rad.. 8 84 8% 8k 8% Duke Powder (5) 30 134% 138Y% 133% 138% 20 4% b5 % 5 Earl Radio Corp. 86 2 2% 1% 2% 14 24% 24% 28% 24% 2 M Eastern Utll InvA. o El Bond & Sh (b6) ..« El Bond & 8h p£.(6). El Pow Associates.. 20 El Pow Associates A 35 234 10% EIP&Lopt war.... 94% EIP&L2dpt A (1) 2 3% Kl Sharehold (31) 16 45% El Sharehold pf (6 81 Emp G F cum p£(7. 25% Empire Pow pt (2) 14% Em.p Pub 8.A(1.80 23 Employ Reinsur 1%. % Engineers Gold....u 3 5 26 1% Froed-Eiseman Rad. Fairchild Aviation. u Fairey Aviatn Ltd... - Bavannnd [ - PAPAEL 1PN PSP Franklin Mfg (2) eBue n=Be 301 48% STAR. WASHINGTON, Empire Corp Gen Fireproof (2 Gen R & Util pf (6) Gen Theat Equip vie Gilbert (AC) (3%).. Glen Alden Conl ¢10) Gold Seal Eln. Golden Center. . Goldm Sach TC (b6). Goth Knitbac Mach.. Graymur Corp. . GrA&PTnv(6)., 8208 Gr A & P Tea pf (7). 1108 Gt LakesSteel pt pf. Greif & Brother.... .. Grelf &Br pf X (7).. Groe Stors Prod vte. Ground Gripr(t1%). Ground Grip pf (3).. Guard F Assn 12) Guardian Inves| Guenther Law. . Guif Ollof Pa (1%). Hall Printing(t1%). ga; Hazeltine Corp (1), Hecla Mining (1) Helena Rubenstein. Hires (CE) A (2)... 4 Hollinger Gold (60c! Homaokla Of1 o Horn (A.C.) ¢ Horn & Hard (23) .. Horn & Hard pf (7). Hudson Bay M & S.. Humble Oil (12).... Hydroel Service (1), Hygrade Food Prod. I1Ynols P L (20). ... Imp O1l Can n (50c). Indiana PL new 12% Indian Terr Illum... Ind Fin cfts (b10%). Insull Util Inv. Insull UtIn 2dpf 6. InsCoNA (12%)... Insurance Sec (1.40) Insuranshar of Del.. Intercoast Trad Co.. Intercontinent Pet n. Int. Hold. & Inv. Co... Int Petroleum 373%e. Internat Products. .. Int Superpower ($1). Interst. Eq. cv-pf.(3) Inter Hos M (1.80).. Italian Superp war. Jonas & Naumburg.. Jon & N cum pt (3).. Kirby Petroleum. Kleinert Co (2%) Kolster-Br (Am S| Lackawanna Sec(4).. Lakey F & M (12.40). Lake Superlor Corp.. Lane Bryan tinc (2). Lefcourt Real (1.60). Lehman (The) Corp. Leonard Ofl. . Libby McNeil & Lily Tulip Cup Corp. Lion O1l Refin (3)... Loe nc deb rts. .. Loews Inc war, Lone St Gas (80¢). Long Isld Lt pf(7)..450s Louisiana Lan & Ex. MacMarr St . % Magdalena Syndicat. Mangel Stores...... Marconi I M (37%¢). MarWireTel Ltd 62¢. Margay (2).... Mar Midland Corp. Mason Valley. . Memph Nat Gas Mer & M{ 8 A (1.50 Mid Royalty Midld Stl Prod 15.92 Midvale Co (3). Min Corp of C (. - Mo-Kan P L (L5%). 4 1 26¢ 508 17 13 10 12 1 260 8 L] 17 o - = slroloRnanunieasann e - 2 20 Moh H P 1st pf (7)..1508 Moh Hud P 2d pt(7). Montecatini deb rts. . Moody’s 18 pt pt (3), Moun & Gulf (.08)... Mount Prod (1.60)..y Municipal Service. .. Nachman Spring (3) Nat Amer Co (3 Nat Aviation, Nat ElPo., A ( Nat Fam Strs (1.60) Nat FA Pr B (b4 Nat Fuel Gas (1). 0% Nat Investors ( Nat Pow & Lt pf (7). Nat Pub Sv A (1.60). Nat Rub Mach (2)... Nelson(Herman)(2). Newberry(JJ)(1.10). New Brad Oil (50c).. New Eng Fueln..... New Eng Pow pf (6). New Jer Zine (13).. New Mex & Ariz Ld.y Newmont Min (34).. Newport Co (new). . New Quincy M (10¢). NY Auection (1%)... N Y & Hon Ros 12%. N';llnnlt 1.20).... NY Transitn (1.60). Niagara Hud P(40c). Niag Hud Pw A war. Niag Hud Pw B Niagara Sh ( ) Niles Bement Pond. Nipissing (30c) Noma ElI Cor (1. Noranda Mines. 6 North Am Aviat 5 North Am Utll Sec. 8% North Cen Tex (60c 115% North St Pow A (8) 17% N W Engineer (2) 20 Novadel Azene (2 80 Ohio Brass B (5). 14 Ohio Copper. 64% Oho Ol (123 . 8% Ollstocks Ltd A 3500 20% Orange Crush (1.50). 10% Outbd Mot A (1.80).. 4 Outboard Motor (B). 24% Pac G&El 1stpf134. 24% Pac Pub Serv (1.30).. 12% Pac Western Oll..... Param C Mfg (3.40). Parke Davis (11.40). 12% Parmeles Tran (13%) In . 98 PugSP&Ltof (6). 6% Pyrene Mfg (80c) 10% Radio Products. 55 Rwy & Lt Sec ( 7% Rainbow Lum ProdA A% bow Lum 21% Reeves (D) (1.30)... 15% Reliable Stoes b1y 12 Reliance Manage 65 Repetti Candy... 1 - Serm Y o pRasoronNe ~ @ 2 - PETS- T TTRP - PN o 207 94 a Barars anrwal [T - D. G, FRIDAY, NOV KMBER 15, 1929 Stock and Sales— Dividend Rate. Reynolas Bros Inc. . 4 Reynolds Met (new) Roan Antelope Min. . Rockland L& P..... Roosevelt Field.Inc. Ruberold Co (4).... t Regis Prper fety CH&L alt Creek Con (40c) Salt Cieek Prod (2). Schlet & Zan pf 3%.. Schulte Un 5e-$1 St, Sch U 5¢-$1 8 pf (7) Seg Lock & H (50¢). Selected Industries. . Select Ind 2d pd 4% Select Ind pr (5%) Sentry Safety Cont Shattuck Den Min Sheaffer Pen (13 Shndoah Corp (b6 Corp pf (3) Pac Elec (2) Silica Gel et. : Singer Mfg ( Singer Mf Ltd (30e). Skinner Organ (2%) ora Products. ... 0 Am Gold & Plat « South Penn Oil SEP&L (b4)...... SEP&Lprof).. So Cal Ed pf A (1%) So Cal Ed pf B(2%). SoCal Ed pfC (1%). So Col Pow A (2).... % Southern Corp. So Ice & Utilities B, , Southland Roy (1).. 8 W Dairy Products. SWGas Util.... . Spanish & Gen Reg. . Spie-May-S pf (614) Stan Gas & El pf (7) Standard Motors t O1l of Ind (2%) Stand Oil, Kan $2 SIS REPPY TP T T IS g t Oll of Neb (1314). t Oll of Ohfo pf (7). Stand Pow & Lt. Std Silver Lead. Starrett Corp. .. Starrett Corp pf(6).. Steln (A) &Co...... Stern Bros A (4) Stinnes (Hugo) . Strauss (Nathan). 4 SunInv..... Sun Inv pf (3). Stutz Motor Car. Sunray Oll.... Superheater (111) Swift Intl (2). Swift & Co (8) Syrac Wash M B (1). Taggart Corp....... Tampa Electric (£2). Taylor Milling (2%) 4 Teck Hughes (30¢). . 4 Ten EI P 1st of (7)., @ - 2 e FmEEE e Aad 00. Open. High. Lot . ~Prev.1920— . Low. 27 54 8% #& Unit EI 2% % Pennroad anns ayment. Stock ana Dividend Rate. Third NatInv (1)... 2 80% 30% 30% 18 Thomp Prod A (12). 11 Y 5 Thomp-Starrett..... ‘Thomn Star pt (3%) Tish Realty & Con. .. Tobacco Pr Exports. 4 Todd Shipyard (4).. ‘Transamer n (31.60). Trans Alr Trans. . Trans AirTran ctfs.. Tran-Lux DLPSA. Tri-Cont Allfed..... Tri-Continental Cor. ‘Tri-Cont Corp pf (6) Triplez Safety Glass ‘Trunz Pork Stores. . Tub Art Silk B (10). ‘Tung-Sol Lamp (2). Tung-Sol L pf (3) % 3 Trans Corp. jend rates in dollars based on last quarterly or semi- PINANC AL, "y 10 Bales— Add 00 Open. High. Low. Close. 20% 8 34% 40 o e e 2 R L U TR PPN L-TE e United Elec Ser. Unit L& P A (60c).. Utd Lt & Po pt (6).. Unit Prof Sh (1.20).. Unit Reproducers B, U S Fininshing (32). USFoll B (1).. . U S Gypsum (1.60).. US&InSctf(2%). U 8 Radiator (2). U S Shares Fin... United Stores. . . Unit Verde Ext (4).. Unity Gold..... Utab Apex (50¢). Utility & Ind... Ut & Ind pf (1%).. Util Power&Lt($1).. Ut P& L Bctfs ($1). Utility Equities Vacuum Ol (14%). . Vam Camp Packing. Veeder Root (2%)... Venezuela Mex Ofl. . Vick Fin Corp, . Va Rallway v.t.c. Vogt Mfg Co (2).... Walitt & Bond A (2).. Watson (J W) Co. Wayne Pump. Wenden Copper..... West Alr Exp (60c)., Wes Auto Sup A (3).. Winter (Benj)s..... 3% Woodley Petroleum. 1% 4 Yukon Gold Sy 44% 13 Zonite Prod RIGHTS. 1% % Asso Gas & Eel...Dec. 16 Expire. 6. % ¥ & 8 % k% * & & @& “en Nov. 19 82! ..dan. 4 25 -dividend. {Partly extra, extra in stock. 21 | camn or ootk e e e e B oo e ey 12 CHICAGO STOCK MARKET. Special Dispatch to The Star. CHICAGO, November 15.—Following is a report of today's sales, high, low and closing quotations, on the Chicago Stock Exchange: Sales in High. Low. Close. .. 98 3 o 23% 4z 174 40 38 22 4 21 34 s enacn CEDEERN BH0NB 5! 5 Y Brach & Fons 1Bright Star El B 20 Brown Fen & W Co s e =181 ZEEEAE L EEE & ERE PRt e A b s R e W OSRRSE Pt PR st logg Swi T 15 Kendail Radio Tube: St 2 o 1 Marks Bios Theii pi 8 Material Serv Corp. 2 McGraw Elec in: 12415 12415 B 2 # 0% 18% 29% Oats Music De Vr Southw G & E I3 tand Dredging Co.. 2t tand Dredg Co pfd. z h Radio Prod 71 Util & Indus Corp 22 puily & Ind corp i Pum i s ERT LS ZREEENE: 15 Yates Machin 27 Zenith Radlo Total sales, 625,000 Bales in BONDS. thousands. 1comi E 1st S¢ ‘43 10015 1007 1Metr EI Ry Ist 45 '38 683, 4 Pub Service 1st 55 '56 99 99 SILVER QUOTATIONS. NEW YORK, November 15 (#).—Bar %! sllver, 40%, Mexican dollars, 3632, ki 58, Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md.,, November 15.— Potatoes, white, barrel, 1.50a3.00; 100 pounds, 2.50a2.90; sweet potatoes, bar- rel, 1.25a2.00; yams, barrel, 2.65a3.25; beets, 100, 3.00a4.00; beans, hamper, 1.50a4.50; brussels sprouts, quart, 10a20; cabbage, hamper, 40a60; carrots, 100, 4.00a5.00; caulifiower, 2.25a3.00; celery, crate, 1.75a3.00; eggplant, crate, 4.50a 5.00; lettuce, bushel, 75a1.00; lima beans, hamper, 1.50a2.00; onions, 100 pounds, 1.50a1.75; 'rs, hamper, 35a 60; peas, bushel, 5.0085.50; pkins, 100, 3.00210.00; 1.25a2.00; ora bushel, 2.00a4.50; 1.50. Dairy Market. Poultry, alive—Turkeys, pound, 30 a36; Spring chickens, 23a27; Leghorns, :ou:ll*g; ducks, 18a33; guinea a75; Eggs—] "’f,‘,u“':'a'fis hennery whites, 8. " ceipts, i Butier—Good. and tancy o Cattle—Receipts, 1,200 head; good supply; market extremely dull, Steers—Choice to prime, none; none; medium to 11.75; fair to medium, 10.00a11.00; to fair, 9.00810.00; common to 8.00a9.00, g choice, none; medium %o good. 1. a-gz '_? oénedlum, 7.0087.50; to .00a7.00; common to 5. .00, 00a % o plain, 5.0086.00 to_choice, 7.50a8.00; medium .‘ii"i.‘.”‘iz; fair homs i a) Al .50; T — eifes , none; 10000 Se"Ee T 10 ood: .00; fal me . .00; to Tar, 7.0088.00; common. wo’ Sheep and lambs—Receipts, 2! ; lighter supply; &“’uyfo :::edp 2.0086.00; lambs, 6.50a13.35. : Hogs—Receipts, 100 head; ply; market dull and 9.7029.90; heavies, 9.75a10. 7.2 Hay and Grain Prices. Wheat—No. 2 red Winter, 1.18%; No. 2 red Winter, 3 ;.}g:,: NNov,ember. 118 g -19% ; No. 3, garlicky, 1.14%. Corn—No. ;" PRy L W' yellow, 1.07; Oats—No. 2 white domestic, Rye—Nearby, 85 Hay—Receipts, none. Season for old hay is about over. A little new crop is to establich quotations b; ey al y grades, quality and condition, receipts by truck taking care of most requirements, Straw—Little demand for straw. Re- ceipts generally ample. Whe: straw, No. 1, per ton, 9.00a10.00; oat straw, No. 1, per ton, 9.00a10.0 MONEY MARKET. NEW YORK, November 15 (#)—Call money was easier today and at a lower ,| rate than has been quoted in about two weeks. It renewed at 5 per cent, the lowest renewal rate in more than & year, and was freely supplied at that rate, while offerings were made in the outside market at 41; per cent. ‘Time money rates have been chang- ing so rapidly that little or no business is being done. Short-term loans, ac- cording to leading dealers, could be made for 5 per cent, with 6 per cent set as the maximum for longer ma- turities. e GERMAN BONDS AND STOCKS. Bid. Asked. Ger Govt Red Loan with drawing ctfs attached per 100 i Loan without stic, t, 54a 65; No. 3 white domestic, spot, r;lfil. Mel) a5, arriving, but hardly enough upon which | Eri ‘Where BONDS ON THE CURB Sales in thousands. 1 Alabama Pow 5s 'S 19 Aluminum Co, 5s Asso G 2 DOMESTIC BONDS. High. Low. Close. CURB SHARES GAIN INACTVE NARAE: .iShorts Forced to Cover &> Leading Issues Record Big Gains. EY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, November 15.—Encour- aged by overnight developments, th> Curb Market again opened higher tc- day and maintained the upward trenl in good fashion. Although gains and | size of orders were not so large as in th" | previous session, they were nevertheless impressive. Selling from international market was much less pronounced than earlicr this week. Shorts retreated early as the Curb | Exchange, apparently having a chang of heart overnight, decided to questicn members about the size and source cf the short interest, just as the New Yoik Stock Exchange is doing. e Numerous Gains Recorded. Electric Bond & Share opened with a block of 25,000 shares at 67)3, or up 3%,. At the end of the first hour it was % | quoted on the floor at 69'3, up 5%. Cities Service opened on 12,000 shares at 29, up 1. It was 29% at the end of the first hour. Standard Oil of Indiana started at 527, up 3'%. Despite profit taking i: was 52% at the end of the first hour. American Superpower on a lot of 12,000 sharcs opened at 217%, up 1%, and at the end of 60 minutes’ trading was 22! These stocks are believed to har- boc a sizable short interest, so their % | activity and strength was not surprising. Upswings in utilities and trading companies, which obviously had fallen to ridiculously low levels, continued im- pressive. American Gas & Electric opened up 8 points at 98, and then pushed above 100 in the first few min- utes of trading. Commonwealth Edison opened at 235, up 15. Duke started at 112;:., as against its previous close of 4 Among the trading companies Gold- man Sachs opened at 39%, and then touched 40. Marine Midland, which crashed to the low level of 28 only two sessions ago, opened at 31!, and pointed higher. Reliance Management, which could be obtained earlier in the week for 12, came out today at 1915. Aviation shares also succeeded, in many cases, in pulling out of their rec- ord low levels. Motors were not quite so successful in this movement, largely because the trade outlook for that in- dustry remains scmewhat clouded. Crocker Wheeler opened up 2 at 25. Deere, at 350, was up 14, and Tubize, at 160, was up 10. Radio shares displayed recovery powers. De Forest at one time g?gge at 8%, up % from its previous GRAIN MARKET. CHICAGO, November 15 ().—Mate- rial fresh upturns in wheat values here took place early today owing to Liver- Qny eaSeasies e 13 [ E X D Lod, 3=ag: sSenzazreses TR ; i = M - §==;=:§ S & i ] 0 R e Ses ge & 5 * 5 [ '5'925 8 *EF e R geeagegs g=asy u§ EEERELAEEE L RE R L el sggfes i 25 0w aBana oS e B zg:;gg Besiatienid aaaa338388 oflo F o 2383enese 2833 & 2 L1 % H 738000400 .-g" FEF R & & & 2 = * FETE 88Ba00adiRSEE 8% e FEE F Ww—With warrs XW_Without warraats. NEW YORK, November 15.— Special Dispatch to The Star. America American ryant Pa Central Nationai ' Chase Chat Phen Shelsea Exchange ‘éx its % | ing, an 00 | been supplied, prices eased slightly and pered pool quotations much higher than due and because of stock market advances. Word that black rust might reduce wheat yields in Argentina tended to promote speculative buying. Opening % to 1% er, Chicago wheat after- ward showed further gains. Corn, oats and provisions were also firmer, with corn start'ng 15 to % up, but subse~ quently reacting somewhat. Broad general buying of wheat future deliveries up anew today in the $6% | wheat market here and '.as given de- cided momentum on account of over- night North American export business, ted as high as 2,000,000 bushels. Besides, friends of higher prices here l,w ué g:'uken Meanwhile rom Chicago crop exms said black rust on wheat to increase and that damage has resulted in the provinces of Cordoba and Santa Fe. tic millers today for wheat acted as further stimulus to price gains in wheat future deliveries. Talk was current that milling purchases of wheat today amounted to 2,000,000 bushels, and that these purchases were distinct from over- night export buying of an equal amount of Norih American wheat for export. Primary rcceipts of wheat in the United States today were only 703,000 bushels, compared with 1,609,000 bushels a year ago. NEW YORK COTTON. NEW YORK, November 15 (#).— Cotton opened steady today at an ad- vance of 14 to 19 points in response to relatively steady Liverpool cables, and buying was also promoted by the firmer opening of the stock market. Jan- uary sold up to 17.43 and May to 18.00 during the first few minutes, making 5 | net advances of about 18 to 21 points 200 on the active months. Southern sell- 1] ing was comparatively light, but the rices met considerable realiz- after the initial demand had highery the volume of business ta off o 80 | some extent. The undertone was steady a0 | At the end of the first half hour, how- ever, with prices ruling about 13 to 15 points net Klghe:. Liverpool cables reported covering with local, continental and Bombay buying and said selling pressure had diminished. These advices also reported 30, & fair cloth inquiry from India, but sald Manhattan Manhattan Manhattan elrol . se order new hay sells at from 13.00a16.50 per ton, according to its 8 a Union (Brx) . Washingto: WOl "Exchane Yorkvilie TELEPHONE COMPANY EXPANDS IN MARYLAND Special Dispatch to The Star. *BALTIMORE, November 15.—A pro- gram now under way for the installa- tion of underground conduits and cables for telephone wires will bring about the romoval of almost 7,000 poles and 885 miles of overhead wires from streets and highways in Maryland, ac- cording to Graham K. McCorkle, gen- eral manager of the Chesapeake & Po- tomac Telephone Co. The improvement program contem- plates the removal of 6,642 poles, 800 guys, 5,000 cross arms, 113, small aerial cable, 270.000322& '5?0% underground cable, 5000 feet of un- derground conduit, 680 feet of sub- marine cable . and mile ok 885 les of wire The changes, Mr. McCorkle added, than 4.00 | Will involve expenditures of more $4,200,000. Since January 1, it was said, 128 h.lephm:lhl been added to the , an er cent in tele) e in Mary- anain the last 1o years. g Gasoline Price Reduced. NEW YORK, November 15 (#)—The fin‘?‘lnonl a mmzmmmw and Delaware, making the service sta- tion price 17 cents a gallon, many offers were unworkable. 3|NEW PLANT FOR BALTIMORE. BALTIMORE, November 15 (Special). —Chemicals & Drugs, Inc., of Boston, Mass.,, and New York, will establish a plant in Baltimore, having leased a five-story warehouse at Light and Lee streets for a term of years. ‘The lot is 85 by 196 feet and a spur from the Municipal Belt Line Rail- l'?fldt enters the property from Light street. Chemicals & Drugs, Inc., is a_hold- ing concern, which owns the Dethol Corporation, Richmond; Dreco Co., Baltimore; J. S. Johnson Co., Boston: Bleachodont Dental Laboratories, New York; Fallis Co., Cincinnati; Corn Fly Co., New Jersey; Aetna Co., and vari- ous other concerns, including one in Mexico and one in Brazil. All the manufacturing will be done at . the Baltimore plant. s T. R. Fulton of this city, formerly with the Dreco Co., will be general manager of the new plant. Switzerland is taking an interest: in commodity-vending slot machines made in America, Yesterday’s % New York Stock and' Bond Averages, ") From the 5:30 Edition. - 1scin By the Associated Press. o STOCKS, a3 l:'li us- 20 Rafl- 20 Utill- disllidis 137 170.1 4 1280 67.8 1177 shares.