Evening Star Newspaper, February 7, 1930, Page 15

< R ) FINANCIAL. JLURB ISSUES FIRM - DESPITE SELLING [Utilities, ‘Active in Upward Trend. BY JOHN A. CRONE. B8pecial Dispatch to The Star. NEW YORK, February 7.—Public utilities, oils and industrials led today’s hesitant, but fairly firm Curb Market session. The bellwether, Electric Bond & Share, after stoutly resisting pressure, advanced more than a point in the first few hours. This brought better bidding for American & Foreign Power, American Superpower, United Light & Power and Power A and Associated Gas & Electric. Merger plans and rumors spurred the utilities, which in the previous session met considerable profit-taking. The announcement that Central Pub- Ne Service was negotiating with Public Utility Holding_Corporation for Port- | Jand (Oregon) Electric Power Co. while having little effect on the shares men- tioned, set many rumors afloat about other combinations. Middle West Utilities and its invest- ment associate, Insull Utilities, again were strong. Commonwealth Edison at times was up more than 5 points and American Light and Traction rose slightly. Cities Service early assumed leader- ship of the oils. Standard Oil of India, however, soon turned active and it was followed by Indian territory il- Juminating. Meanwihle Humble snap- ped out of its recent inactivity and moved within a range of 3 points. Industrial news at the opening was of mixed character. Lerner was up a point as a result of its January sales gain. Tubize Artificial Silk was sold following Belgian cables telling of the dividend omission of the Belgian firm. ‘Tubize of America later recovered when traders suddenly recalled that it had broken away from its Belgian associate nearly five years ago. Payment of $500,000 interest on the Poli Theater chain purchase had a beneficial effect marketwise on Fox Theaters A, an associated company. ‘The slight January gain in Schulte- United Stores earnings was not re- fiected on the tape. AL S STEEL PRODUCTION. By the Associated Press. Heightening activity in steel produc- tion last week was registered by Census Bureau estimates. Figures which follow give the total percentage of steel ingot capacity kept in service for the week and comparable periods. Week ending February 1, 76 per cent. Preceding week, 74 per cent. Same week last year, 86 per cent. NEW YORK BANK STOCKS. NEW YORK, February 7 ().— Banks, Bid. Asked. Oils and Industrials | Hizh 481y 814 310 38% 81 53 34, 10% 99 29% 155% 3215 35 23 58 113% 32% 266 102% 4%y 98 4% LY FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal gold Selling checks value (or par). B 193 Yien .!:\cfflmnl apest. pengo ... Prague. crown (nom. TREASURY CERTIFICATES. Reported by J. & W. Scligman & Co.) Rate—Matur, Bid. BONDS ON THE CURB Salesin DOMESTIC BONDS, thousands. High. Low. Noon. 3Alabama Pow 4'4s '67 S4%% D4 S414 13 Aluminum Co $s '82. 10314 1037 1Am A 84 1081 EEEES I3 882, o ) 35 323> 2 Qi i \..fl SR = 25 . poanBonsutaceSuata it SR guaet! o 35 aadp B9¥¥¥999290099900 0@oR w gt sy 3G ki by § 3 G&C 55 '47 9 h P 8 65 A 2026 10 ss Riv Fl 65 44 ww 1111 ss Riv Fl 65 xw. 3 L P &L 6s A 2026 w Eng GAE 55 '47 w Eng G&E 55 Y P o S ! Sy 7 5 POREIGN BONDS. Cent Bk Co 6s B ‘81 82 Mig Bx'ee 3l 8 m Pr Bk 5vas 31 anish’ Con b5 '8 Port 6%s '52 AnKrort 8las 183, or: lsenkirchen: 63 n s 88223 3 o 4 Ger Go, 22238228I=SRS2 ‘There were no deaths last year in m England, which has a popula- 3 2 2% 53 2% 1% 4 131% 5l 99 105% 34% 23% 3%, 100% 27 19% 3% 58 % 13% 101 404 % 4 be Stock and Dividend Rate. Acetol Prod A...... Acme W Co vte (32). 3415 Aeolian pr 8 Aero Sup Mfg 21X Atnsworth Mfg $2%. 314 Alr Investors vi 16 All Amer Gen Corp. . 4 Allegheny Gas Corp. 5 AllInt Inv Corp..... 33 Allled Int Inv pf (3). 12% Allied Mills (60¢)... 355 Allled Pow & Lt..... 45 Allled Pwr&Lt pf(3) 76% Allied P&L"1st pf(5) 275 Aluminum Co of Am 35% Am Arch Co (3) 68 Am Cigar Co. 37% Am Cit P&L o 14 AmCP&L B (b10%) 4 Am Cwlith P A b10% % Am Cmwlth Po war. Am Control Ofl Fids. 25' Am Cyanam B (1.60) 3~ Am Dept Store: . 15% Am Equities. . 65% Am For Power war. 113% Am Gas & Elec (31). 105% Am Gas&Flec pf (6). 10 AmInvestnecB.... 4% Am Investors (war). Am Lt & Tract (10). Am Mg Co (3)..... 1's Am Maracaibo. 74 Am Natural Gas 96 Am Pub Ser Co pr... 247 Am Sol Ch cv pt (3). 23% Am Superpower (1). 87% Am Superpow pf (6) 94% Am Super 1st pf (6) 3% Am Thread pf (25¢) . 5% Am Yvett Low. 8 44 A 16°x Anglo-Am vot (73¢). 15% Anglo Chil Nitra % Ariz Globe Copp % Art Metal Works(3) asso-Dyeing & Pig. . 614 Asso-Elec Ind Ltd. . . 36!y AsS0 G & E A (12.40) 7 As50 G&E A deb ris., 1% Asso Laund (320¢).. 2915 Asso Rayon pf (6).. 20 Atl Coast Fish(1.40). % Atiant Fruit & Sug. . 15% Atlantic Sec Corp. 18 * Atlas Stores (31). 14's Auto Music (A) (1). 14% AutV Mecvprpt (2). 1244 Aviation Credit. 7% Aviation Securitie 150% Bell Tel of Can (8).. 28 Bickfor Inc pf (2%). 813 Blaw-Knox Co (1%) 6% Blue Ridge Corp.... 33% Blue Ridge cv pf.. .. % Blumenthal (S). 10t Brill Corp A (2.60) 2% Brill Corp B... 313 Br Celanese Ltd 21 Brown F&W (A)2.40 684 Buckeye P L (4) 24% Buf Niag&EPp 70t Bunker H&S (163).. 40 Burco, Inccv pf (3). 1% Cab&Wire LtdB rets. #% Can Marconi. . . 5 Carnegie Metal 29 Celanese Corp. 83 Celanese Corp pf(7 6 Cent Atlantic Sta: 34% Cent P Sv A (a1.76).. 19 Cen States El (340¢c) 4% Centrifug Pipe (§0c) 1245 Chain Stores Stock 22W Charis Corp (13) 531 Ches & Ohio (new) 106% Childs Co. pf. (7).... 26% Citles Service (330¢) 82 CitServ BB pf (6)... % Clark Lighter A..... 63 Clev Ellllum (1.60). 18 Clev Tractor (1.60).. 11% Cohn & Rosen, Inc. .. 52 Colgate-Pal-P (2%). 5% Colon Ol. . Notice—All stocks are sold in one hundred-; excepting those designated b 5 which shows those stocks t ~Prev. 1030.— )y the letter s (65s) sold in Sales— THE EVENING STAR, WASHINGTON, :;"'::f' High. ©dd lots only, 2 dd 00. Open. High. Low. Close. T 9 9 a9 9 2 481 2bs 1 3 6 6 22 803, 310% 3684 2 4 7 49 7 8 3 20 2008 2691 268 50 3 o ver@RumuneS Mnmmmmscoan 9 1y 8 10s 110 189 Y% 1 4 3 ¥ 1 4 3 27 %34 Com'with Edison (8)230s 269% ¥5% Comwith Pow pf (6). 3's Comwlth & Sou war.. 94 Com'with &S pt (6). 12% Com Wat Ser (b§%) s Comstock Tunnel. ... % CAMCoctfs..... 1% CA M Cocum pt. 5 Consolidated Copper. 90% Con Gas, Balto(3.60) 21% Con Gas Ut A (2.30). 4 Consol Cortez Silver. 13% Con Dairy Prod (32). 3 Cons Instrument, 10 Cons Laundri 20 Coon (WB) Co(2.80) 11% Cord Corp.. 18% Crocker Wheeler. . 3215 Crown C&S pf 2.70) ., 43 Cumb'lnd Pipe L(4). 1% Curtiss Wright was 1% Cusi Mex Mining. 3 Dayton Alr & Eng. 125 Deere & Co new w. 2% De Forest Radio. 4% Derby Oil & Refin. 5 Detroit Aircraft Cor. 25% Detroit Gasket(1.20), 10 Distillers Corp. 12% Douglas Aire (76c) Dres(SR)MIE A 3% . Driver Harris(new). 8% Dubilier Cond&Rad. 145 Duke Power (35) 4% Durant Motors. 13% Duval Tex Sul w.{ 26% EastGas & F Asso.., 18% East States Po B(1).. 13 Educational Pic pf.. 14 Eisler Electric (1%) 80% El Bond & Sh (b6).., 103% El Bond & 8h pf (6). Empire Pwr Corp(2) 19% Emp Pub 8v A(1.30), 14 Empire Fire Ins. % Engineers Gold 18 Eng P Sopt war. 4 Evans Wallow Lead. 2 Fabrics Finishing. 33% Federal Screw (3). 22% Federated Metls (1). 1% Fiat Stkdebrts.. 100 Florida P&Lt pf (7). 26 Flintkote A (1.50). 13% Fokker Afreraft. 29's Ford Motor Can A. g 93 Foremost Dairy 33, Fourth Nat Inv. 2i4 Fox Theat Cl A, 20 Garlock Pkg (1.20) 34 General Baking. . 40% General Bak pf (6).. 11% Gen E Ltd rets (50c) 13 GenGas&El(A).... 10% Gen Indus Aleohol. .. Gen Laundry Mach 98% Ga Power pt (6). 16% Gilbert (A C) (1) 21 Glean Com Har n(1). 113% Glen Alden Coal (10) 11% Globe Underwriter: 4 Gold Coin, 3 Golden Center. % Goldfield Consol . 36 Goldman Sachs (b§). 4% Gold Seal Eln....... 1% Goth Knitback Mach 7 Grand Rap Var (1).. 31% Graymur Corp...... 236% GrA&PTnv (5).. 13 Y8 297 4% 28 98 4 13% @ e = PTTIN L TP HRPS N TN ) » a RS T S SRR T o fet e e e oy > 3 & 115% Gr A & P Tea pf (7). 120s 12% Groe Stors Prod vte. 38 Guardn Fire Assn(2) 183 Gulf Ofl of Pa (1%). % Happiness Candy.... 18% Hazeltine Corp (1) 12 Hecl 5 Hollinger Gold (60c: H on Gulf Ga: 8% Hudson Bay M & 78 Humble Ofl (2)...... 37% Hydro Elec Serv (2). 10% Hygrade Food Prod. 6% Imp Chem (Ind). 24% Imp Oil, Can (50c 20% Indian Terr lllum. 38% Ind Pipe L n (32 ™ = e e L L T ~8= 481 34% B6% 80t 42% 20 691 136% 1811 106% 106% 12% 64 26914 50 2 10% 99 28 2815 92 97 1165 14 42 138 1364 48% 343 8% 25% 3% 17% 6% 61y 344 14 4% 49 1930~ Stock and Low. Dividend Rate. 17 Ind Fin ctfs (bl0% ), 5414 Insull Ut Inv(be%,). 694 Ins Coof N Am (13), 2014 Intercoast Trad, ~Prev 67 (1) 7 Intercontinent Petn, - 19% Intl Petrol. n(6234c) 6's Internat Products, 67 Inter Prod pf (6) 3215 Intl Superpow ($1). 6% Internatl UtB...... 1% Internatl Util (war), 10%4 Interstate Equities. . 401 Interest Eq cv pf (3) 25 IronFire vte(t113), 12 Irving Alr Ch (1,50). 5 Italian Superb wa; 9% Italian Superpow A. 28% Johnson Motor Co. 1% K 14% Lefcourt Real(11.85) 29 Lefcourt Real pf (3) 755 Lehman (The) Corp. 381 Lerner Stores (2) 18 Libby McNell & L., 18% Lion Oil Refin (2) 12 Loews inc deb rts 3414 Lone Star, new (80¢) 4% 40 Long Isl Light(60c). 110% 107 Long Isld Lt pf (7).. 5 3% Louistana Lan & Ex. 24% 23 Mac Marr Store: Mangel Stores. 10% Marc Int M(52%¢c) Mavis Bottling Mayflower Assn 10% Memph Nat Gas Ci 15 Mer & MfS A (1.50)., 2814 Mesta Machine. 1% Mesabl ron... 8% Met & Min Inc ( 2414 Met Chain Stores. .. 26l Mid Wst Util (b8%). 97 Mid W Utev pf xwé. 1% Mid West Ut A war., 214 Mid West Ut B war. 50% Midvale Co (4) . 29 Miller § Sons (2)... 28 Min Corp of C (2ic). 187% Mo Kan P L (b10%). 19's Mock Judson Voe(2) 103% Moh Hud P 2d pt (7) 22% 22% Monoka WPP pf 1 Morison Elec (31 Mount Prod (1.60). chman Spring (3) at Casket (4)...... 19% 17% Natl Fam Strs (1.60) 26 25 Natl Fam S pf (2)... 28 254% NatFuel Gas (1) 17% 12% Nat Investors (new) 16% 15 109% 1004 N 25% 33% 29 N 20% Nat Transit (11). 13% Neet Inc cv A (1. 4 N 105% Newmont Min (24). 6% N Y Auction (1%).. 22% NY Invest (1.20)... 14 N Y Pet Royalty (1). 8 NY Rio&Bu Alres... 114 NY Telpf (6%).... 11% Niagara Hud P(40c) 3 Niag Hud Pw A war. 12 Niagara Shares Md... 1% Nipissing (30c)..... 12% Noma EI Cor (1.60) 34% Noranda Mines (3). 5% North Am Aviation. 3 North Am Cement. .. 67 NoAmL &P (b8%). 5% North Am Util Sec. . 9214 No Am Util 1st pt(6) 170 ~ North St Pow A (8).. 26% 21% N W Engineer (2) 29% 22% Novadel Agene (2). 1% 1 Ohfo Copper. 71% 69% Ohio Ofl (12). 103 108 Ohio Oil cum pf w. 69 Otis'Elevator new 10% Outbd Mot A (1.80). 3% Outboard Motor (B). 26% Pac GEEl 1st pf 1%., 27% Pac Pub Serv (1.30).. 1 Pandem Oil... . 11% Param C Mfg (2.40). 22% Patterson Sargnt (2) 13 Pennroad Corp. ..... 52 Penn Ohio Ed($134). 94 Penn Ohio Ed pf (). 106 Penn O Ed prpf(7).. 92 Pepperell Mfg Co (8) 19% Petrol Corp (1%) % Philip Morris Ing 10% Pilot Rad T A (1. 10 Pitney B P n (20c) 9 Polymet Mfg ($1) 14% Power Securitles. .. 20% Pressed Met of Amer 81 Prince & Whitely. .. 36% Prince&Whitely pf3. Co pf (7. Prudential Inv. 17% Pub Util Hold war. , 99 Pug SP&Ltpf (6)., €9 Rallway & LtS (15), 12% Ry & Util Inv (A) 3% RainbowLumProd 5% Reynolds Bros Inc. 22% Reynolds Met n 2.40.. 26% Rike Kumbler (2.20). 26'% Roan Antelope Min.. 1 Ross Stores, Ine. . 10% St Lawrence Pap M. 19% St Regils Paper (1).. 2 Salt Creek Con (40¢), 10% Salt Creek Prod (2).. 27% Schiff (The) Co (2).. 2% Schulte Un 6¢c-$1 St.. 36% Seeman Bros (3) 66 SelIndallotefsbl% 4% Sentry Safety Cont.. 8 Shattuck Den Min... 51% Sheft'r Pen (WA) (2) doah Corp.... 33 Shenan Corp pf(a3) 18 Silica Gel ct. 16% Sisto Fin Corp. % South Penn Oil (2) .. 100 88 S'east P&L pr pf(5). 113% 108 SEP& L pf (7) 7 4% Southern Corp...... 10 Southland Roy (1)..; T% S W Gas Util. 52 Stand OfL, Ind (2%) 33y Stand Ofl, Ky (1.60)., 44% Stand Of1, Neb(13%) 62 Stand Pow & Lt. 61 Stand Pwr & Lt. 99% St Pow & Lt pt (7). ., 20 Starrett Corp. 34 Starrett Corp pf (§) 10 Strauss Roth. .. 1% Stutz Motor Car, 6% Sunray Oil (40¢).... 49% Sunset Strs pf(314).. 3815 Superheater (13%). . 31% Swift Intern’1(23%).. 8 Syrac Wash M B (1), 54% Tampa Electric (32). 4% Teck Hughes (60c) . 18% Thermold Co (2)... 28% Third Nat Inv (1) 22% Thomp Prod A 12.. 417 Transamer ($1.60) 6 Tran Con Alr Tra: 4% Trans Air Trans 18 Transcontl Oil (30c) 4% Tr-Lux DL PS (A).. 4 Tri-Cont Corp war. ., 11% Tri-Continental Cor. 76 Tri-Cont Corp pf(6). 40 T til Cor (31.20).. 26 24 Trunz Pork S (1.60). 178% 140% Tub Art Silk B (10).. 83% 26% Ungerlelder F Corp.. 27% Union Amer Invest. 26 UnN G Can (11.60). % Union Tobacco. 10% United Chemical 32 United Ch pt pt (3. 14% United Corp war 27% Unit Lt&Pwr A(60¢) 97 Utd Lt & Po Df (6).., 1% United Profit Shar. ., 7% Unit RtCh pf (334) 18% US Dairy B........ 18% U S Elec Pwr ww. 17% USFoll B (1) 42 USGypsum (1.60).. 2% U S & Interntl See. ., 60% US&InSctr (2%).. 14 US Lines pf (50c)... 11 Unit Verde Ext (4).. Sales— Add 00. Open. DT E P BrrrmaZaithzne ® " © HR DR M EARE R CAR A O OARE A ARG~ Craanaar Do wSe i 2 e Brosbe mBeBehonnas SeNawn 21 . High. Low. Close. 21 21 21 4 | profiiably. Where additional funds were 2014 3% 42 16% 9% % | 37 29 46% 6% 6 1% 7 6% 164 8319 45% 26% 143 34 34 0% 30 N D. C, FRIDAY, 'FEBRUARY 7, 1930. ~Prev High. 19% Low. 14% ) 38 UtIIP&L B ctfs (a1) Utility & Ind.. .. Util & Ind pf (134) Utility Equitfes. Vacuum O11 (1434 ) Van Camp Packing. . Van Camp P pf(1%). Venezuela Ptm(20c). Vick Fin Corp...... Waitt & Bond A (2). Walgreen Co. ....... Walgreen Co war Walker (H) (1), Walker Mining. . ~Prev 1930. st High. Low. Divid % % Wenden 5% | 344 18Ik West Al 19% 261 16% > 3% Winter 20% RIGF Con Gas El L&P..April Crocker Wheeler Liggett & New Eng. So. Cal. Edison. Trans Corp. Dividend rates in dollars based on iast quarterly ent annual 4% 100% 100% Western Pow pf (7). 17% Zonite Prod (1.60)... a. | *Ex-divid Partly extra $Plus extra In stock. & Payable In cash of siock b Paysble o stock @ Pasabie I breferred stock. " | Sales— | Add 00. Open High. Low. Close. | Al Mo S By oxp (60¢). 2 33% 83% 33y P 50s 103 103 103 (T Y e 1M 1T% 18% 1% 18% Explre. | 1 5 3% . Feb.24 112 1 JlMariz 60 13% 127 12% 2 8% 8% 8% 3 3% 3% 04 05 or semi ock and end Rate. Copper. . 103 (Benj) . 1TS. M. T.&T. 3w .06 RAILWAYS RETURN 10 BOND MARKET I. C. C. Is Asked to Approve Lines’ Issues to Finance Improvements. After several months of inactivity, the railroads again are presenting ap- plications to the Interstate Commerce Commission for permission to issue financing motes for sale on the bond market. With the Louisville & Nashville Rail- road today seeking authorization to sell $20,000,000 in bonds, of which $5,000,000 is for additions and better- ments to the road and equipment, the request this year for permission | to issue securities reached a total of $123,000,000. Virtually Had Withdrawn. After the depression in the stock market in October the railroads, along with other industries, virtually with- drew from the bond market on the belief that the demand for new issues was lacking and that it would be im- possible to dispose of these securities needed issuance of short-term notes was resorted to in many instances. The improved condition of the stock and bond market, with reduced rates of interest since the first of the year, is generally believed to have changed the attitude of the railroads and started them on the financing program neces- sary to carry on the millions of dollars in extensions and improvement that they informed President Hoover they expected to complete during the pres- ent_year. The New York, New Haven & Hart- ford Railroad opened the activities in the bond market with a request for authorization to issue $4,545.000 to finance partially the purchase of equip- ment costing approximately $6,000,000. Since then the applications have come to the commission steadily. Seeks to Sell Big Issue. Authorization to sell $25,000,000 now held in the treasury was asked by the Delaware, Lackawanna & Western. The New York Central sought to issue $5.280,000 of equipment trust certifi- cates, permission for which was granted today. The Kentucky & Indiana Ter- minal Railroad asked permission to issue $298,400 in notes partially to pay for the acquisition of new locomotives. Equipment trust certificates _totaling $2,115,000 would be issued by the Chi- cago, St. Paul & Pacific; the Savannah & Atlanta would issue $1,300,000 in bonds; the Baltimore & Ohio, $63,- 310,000; the Pittsburgh & West Vir- ginia, $6,000,000; the Central of New Jersey, $480,000, and the Chesapeake Beach Raflway, $37,500 in notes for equipment. Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md,, February 7.—Po- tatoes, white, 100-pound sacks, 2.25a 3.00; sweet potatoes, barrel, 2.0023.00; barrel, 2.00a3.00; beets, crate, ; hamper, .00; carrots, 100, 3.0024.00; caulifiower, crate, 1.50a3.2 celery, crate, 1.50a3.00; lettuce, cr 2.25a5.00; kale, barrel 1.50a1.75; onions, 100 pounds, 1.50a1.75; peppers, crate, 3.00a5.00; peas, bushel, 1.50a 2.25; parsnips, basket, 50a75; spinach, bushel, 50a1.40; squash, bushel, 2.00a 2.50; tomatoes, crate, 2.50a4.50; turnips, hamper, 40a50; apples, bushel, 60a75; cranberries, box, 5.0085.50; grapefruit, box, 2.50a4.50; oranges, box, 2.50a4.50; | tangerines, box, 1.25a3.50; strawberries, quart, 40a55. Dairy Market. Poultry, alive—Turkeys, pound, 30a 35; old toms, 24a25; Spring chickens, 29a33; Leghorns, 22a25; old roosters, 16 | a18; capons, 30a36; ducks, 15a26; old | hens, 25a28; Leghorns, 23a25; geese, 1a| a28; guinea fowls, each, 40a60; pigeons, pair, 52. Eg Receipts, 904 cases; nearby firsts, 3812; pullets, 32; hennery white firsts, 39a40; culls and dirty eggs, 25226, Butter—Good and fancy creamery, 34a38; ladles, 31a32; store 20a2 rolls, 25a28; process, 33a34. Hay and Grain Prices. 2 red Winter, spot, No. 2 red Winter, garlicky, spot, February, 1.19%2; No. 3, gar- 0_quotations. Corn—No. 2 domestic, yellow, new, 1.00; cob corn, new, 4.65a4.75. ts—No. 2 white, domestic, spot, 5512a56; No. 3 white, domestic, spot, 5412055, Rye—Nearby, 90a95, Hay—Receipts, none; general hay market is quiet; some little hay is arriving, but hardly enough upon which to establish quotations by grades. Better grades for Timothy and clover mixed are selling from 15.00a18.00 per ton, according to quality and condition, receipts by truck supplying most require- ments. Straw—Wheat, No. 1, per ton, 9.00a 10.00; oat, No. I, per ton, 9.00a10.00. Live Stock Market, Cattle—Receipts, 550 head; moderate supply: market dull and weaker. Steers—Choice to prime, none; good to choice, 12.00 to 12.50; medium to good, 1135 to 12.00; fair to medium, 1025 to 11.25; plain to fair, 9.00 to 10,00; common 'to plain, 8.00 to 9.00. Buils—Cholce to prime, none; good to choice, 950 to '10.00; medium to good, 9.00'to 9.50; fair to medium, 8.50 t 9.00; plain to fair, 8.00 to 8.50; common to plain, 7.00 to 8.00. Cows—Cholce to_prime, none; good to_choice, 8.25 to 9.50; medium 1o good, 725 to 8.25; fair to medium, 650 to 7.25; plain fo fair, 550 to 6.50; com- mon to plain, 4.00 to 5.00. Heifers—Cloice to prime, none; good to choice, 10.00 to 11.00; medium to good, 9.00 to 10.00; fair' to medium, 800 to 9.00; plain to fair, 7.00 to 8.00; common to plain, 6.00 to 7.00. (Fresh cows and springers, $60 to $150. Sheep and lambs—Receipts, 25 head; ON REAL ESTATE We have available funds at cu Tent rates of interest—normal co mission. ‘CONOMICAL _ CONSI ERATION FOR BORROWERS. Both large and small loans negotiated. MOORE & HILL, Inc. Since 1900 730 17th Street | per featured the market for non-ferrous light supply: market lower: sheep, 2.00 t0 6.50: lambs, 7.00 to 13 light sup- 1150 to ; medium, 5 to 9.70; light | ply; market higher; lights 1.75: heavies, 11.10 to 11. 11.50 to 11.80; roughs, pigs, 10.25 to 10.8 Calves—Receipts, ead; light sup: p]y:o market steady; calves, 7.00 to 16.00. IMPROVEMENT IN COPPER BUYING IS REPORTED By the Associated Press. NEW YORK, February 7.—A marked improvement in the demand for cop- metals in the past week, according to the current issue of Engineering & Min- ing Journal, metal and mineral mar- kets. “The domestic sales of the red metal for the week approached 11,000 tong which was well above the 1929 aver- age,” the report states, of bookings to domestic consumers was the largest in any week since September 11, 1929, Activity in lead continued at a high rate. Zinc sales fell off rather abruptly, but this was expected in view of the recent heavy buying. Tin showed little change. “Large fabricators entered the mar- ket for a good tonnage of copper for immediate and February shipment at 18 cents delivered in Connecticut and by requests for immediate shipment it was evident that fabricators had per- mitted their reserve stocks to dwindle far below normal. Export business in copper was active during the week and sales since February 1 amounted to about 4,800 tons. January export sales amounted to 33,500 long tons, which is considered a satisfactory showing when contrasted with the three preceding months.” . BUILDING ACTIVITY. NEW YORK, February 7 (#).—Big bullding activity in the United States slowed down in the past week, accord- ing to Engineering News Record, which reports that contract lettings for heavy construction and engineering work dur- ing this period were valued at $28,- 506,000, the lowest level recorded since the first of the year. Last week's flgure compares with $50,216,000 for the preceding week and 6,738,000 in the corresponding period 1aSt year. “Street and road donstruction con- tinues to show a gain over the previous week and the same week a year ago,” the report continues, “but all classes of heavy construction show a steady rate of activity since January 1. .k OWNS POLICY 62 YEAB& As an example of taking his own medicine mav be cited the fact that the first policy issued by a certain suc- cessful life insurance company when it began operation more than 62 years ago is owned and kept in force by the man who founded the company and is now chairman of the board of directors. He lis F. M. Hubbell of Des Moines, who celebrated his ninety-first birthday in January, , 110 to 11.30. | | markets of the country, according to the “The volume | 1815 cents in the Middle West. Judging | By the Assoclated Press. NEW YORK, February 7.—Actual or- ders are beginning to replace inquiries the machine tool and machinery American Machinist, which states that while the flow of inquiries that marked | the first three weeks of January gives no indication of decreasing, the trade is | naturally more eager to see signatures on the dotted line. Another source of optimism for producers is the increase |in the number of tools on each inquiry | and order. | There will be no reduction in wage | scales in the Akron rubber manufactur- ing industry, and while the sale of tires usedgms ofiginal equipment on motor cars will fall off during 1930 from last year, it will compare favorably with any | previous year excepting the record year | of 1929, according to P. W. Litchfield, president of the Goodyear Tire & Rub- ber Co. January sales of sugar futures cn the New York Coffee and Sugar Ex |change totaled 881,000 tons, compared | | with 874,750 tons in Jannary, 1928. The National Coal Assoclation re- ports that about 11,700,000 tons of bi- | tuminous coal were mined in this coun- | try during the week ending Fcbruary 1. An analysis’ of factory employment and wage statistics made by the Stand- lard Statistics Co. of New York from figures compiled by the Federal Reserve Bank and the Department of Labor leads that company to report that “un- employment has during the past sev- eral months been more widespread than in a considerable period, but, viewed from a national standpoint, conditions should show gradual improvement be- tween now and Summer.” COTTON PRODUCTION CUT RECOMMENDED| | By the Associated Press. | JACKSON, Miss, February 7.—The cotton acreage reduction committee of the American Cotton Co-operative As- | sociation, meeting here yesterday, an- nounced plans for distributing through- out the South within the next two| weeks data designed to show that maintenance of the 1929 cotton acreage ‘in 1930 will result in “continued agri- cultural depression and threaten eco- nomic catastrophe.” The committee voted to undertake an intensive educational campaign through | the Southern States after Carl Williams, | cotton member of the Federal Farm Board, announced late yesterday that he considered anything in excess of 40,- 000,000 acres of American cotton as crossing the danger line.” | The United States harvested 46,000,- | 000 acres in 1929. EXCHANGE SEAT SALES. | NEW YORK, February 7 (#)—Ar- | rangements have been made for the | sale of two seats on the New York Stock | Exchange at $390,000, the same price of | the last recorded sale. One of the pro- posed new members is William J. Mc- Namara, a telephone clerk on the ex- SILVER QUOTATIONS. NEW YORK, February 7 (#).—Bar silver, 43'¢; Mexican dollars, 323%. STOCK AND BOND STO 50 g0 2 Three years ago, weekly aver. High (1930) Low (1930). 166. Total sales, 3,708,970 shares. Two years ago.. Three years ago, High (1930) 93.0 Low (1930). 91.9 Total sales (par value), $11,723, Whether Apartment, THE DAY . Our Rental Departme Efficient. your mortgage, repairs, in Organized 1879 JOHN JOY EDSON, President Assets -$5,662,549.55 If You Want to Progress Financi- ally—SAVE The most successful method of saving is to adopt a systematic plan. Join the Equita- ble and save as you earn. From Yesterday's 5:30 Edition. By the Associated Press. Industrials. BONDS. 10 Industrials. (Copyright, 1930, Standard Statistics Co.) We Solicit the Rental Management of Your Property Prompt Collections RENTS REMITTED We offer co-operation at all times in the solution of Ownership Problems, such as refinancing RANDALL H. HAGNER & COMPANY, Mortgage Loan Correspondent New York Life Insurance Company 1321 Connecticut Ave. N.W. —_— Equitable Co-operative Bldg. Ass'n Subscription for the 98th Issue of Stock Being Received change. Arrangements also have been made for the sale of a third membership | at $395,000, an_increase of $5,000 over | the previous sale. MARKET AVERAGES CKS. ,000. Residence or Business RECEIVED nt is Most Complete and surance, etc. Phone Decatur 3600 50th YEAR COMPLETED WALTER S. PRATT, Jr., Secretary Surplus & Profits. $1,705,130.78 $2.50 Per ol 915 F St. N.W. —_——— ®er A5 IMEXICO T0 REPAIR CREDIT STRUCTURE New President Pledges Effort to Pay Foreign Debts of Nation. BY JOHN F. SINCLAIR. Special Dispatch to The Star. NEW YORK, February 7.—Pascual Ortiz Rublo, world traveler, author, en~ gineer, revolutionist, inaugurated Presi~ dent of Mexico, has pledged his govern- ment to the payment of foreign debts and to the policy of no seizure of land for peons without just compensation. His administration will war against the infant mortality rate, now almost equal to the birth rate, and against igno:ance by cutting down the percent- age of illiterates. The new President begins by restoring Portes Gil to his old post of minister of the interfor, which Senor Gil held un- der former President Calles, and by re- appointing the present cabinet minis- ters controlling foreign affairs, war and finance. Mexico, with her 15,000,000 people living in a land overflowing with riches and natural resources, is capable of sup- porting a population equal to that of the United States. ‘The sympathy of the people of the United States with her problems—for a vast majofity of her people can neither read nor write—is what Mexico needs during her present reconstruction period. The difficulties surrounding the task of the new President were forcibly demonstrated by the attempt upon his life within an hour after his inaugura- tion, notwithstanding the liberality of the policy to which he pledged himself. Instaliment Buying. When the National Retail Drygoods Association met in New York this week, Dr. H. Parker Willis of the Journal of Commerce, sounded a word of warning against the use of the installment pur- chasing system in their business. No installment purchasing, Mr, Willis said, should be allowed in industries vhere consumption 1is prompt and final.” He insisted that installment buy- ing is not suited to the apparel or dry ®oods business, and “it ought not to be tolerated there for a moment.” Of course, the whole problem of in- stallment buying dovetails very closely into that of banking credit. Making a plea for a closer relationship between the home banker and the merchant, Mr. Willis said: “If the merchant does not support the local bank, he cannot ex- pect the local bank to support him, and will from time to time suffer from a credit famine.” Many merchants have developed a system of installment buying, even in the field of perishables and other fast- depreciating lines. But it is now pretty well agreed that no installment payments should con- tinue beyond the life of the goods pur- chased. In fact, a safe rule is to have payments arranged in such a way that the seller maintains an equity of 30 to 40 per cent in the goods at all times until finally payments are made. Steel Exports. American steel exports made the best record last year in nine years. It was to be expected that 1919 and 1920 would be record years, because of the tremen- dous demand for steel products needed in _European rehabilitation. But last year's gross steel export— over three million tons—is an increase of 5.8 per cent over 1928. Still, the 1929 total was 62.5 per cent less than the record for 1920. In the field of finished steel, exports increased 7 per cent over 1928, but im- ports declined. The imports were but sg.‘ooo tons—21 per cent less than in (Copyright, 1930, by North American Ne! Daper Alliance.) 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