Evening Star Newspaper, February 17, 1930, Page 15

FINANCIAL. ‘CURB SHARES DROP ~ INEASING MARKET .Oils and Coppers Subjected to Heavy Selling Attack. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, February 17.—After an active and irregular opening, Curb trading today slowed as prices steadily slip) ‘The utilities, which in recent sessions have approximated 46 per cent of total dealings, led the decline, in point of volume, but oils and coppers, in point of fluctuation, proved the most vulnerable groups. Electric Bond & Share moved back and forth within a range of nearly 2 points and shortly after midday tend- ed toward higher levels. United Light & Power showed a fairly steady up- swing, but American Super-Power re- acted before ying. Marine Midland came into promi- nence in the trading corporation group by rushing to a record high for the year. National Investors, however, was the leader of this division in point of volume. It moved lower. Niles Be- ment Pond featured the aviation issues with & gain of nearly 4 points to a record peak for the year. vast majority of taxpayers are salaried persons and entitled, therefore, to a 25 per cent credit on their earned net income. Correctly to compute this credit, the taxpayer first must compute the amount of tax which would be pay- able without the earned-income credit excepting those designated by the Notice—All stocks are sold in one hundred-s| letter s (65s) lots which shows those stocks to be sold in odd ~Prev. 1930.~ High. 51% 44 o 7 1% 16 27% 75 and from this amount 25 per cent is to be deducted. the balance being the amount of tax due. Earned income is defined as salaries, professional fees and other amounts received as compensation for personal services actually rendered.” However, all net income up to $5,000, whether actually earned or not, is con- sidered earned income for the purpose ©f this credit. A taxpayer may have received in 1929 8 salary of $3.500 and from a real estate transaction a net profit of $1,500. Nevertheless, the entire $5,000 is con- sidered as earned income. Following' is an example of how & taxpayer, unmarried and with no de- pendents should compute his tax on a net income of $5,001 Net income. Less personal exemption. .. Balance taxable at 17 of 1 per_ cent. 3.500.00 One-half of 1 per cent. 17. Less 25 per ?:n! of % earned- e credit 438 1212 Balance of tax payable. .. compute Other examples of how to the earned-income credit will foliow: EASTERN ROLLING MILL. BALTIMORE, February 17 (Special). ~—The Eastern Rolling Mill Co. zfl not fare as well in 1929 as it did in 1928, ‘because of the severe slump in the au- tomobile industry, to which the local company sells the bulk of its products, but it rounded out the 12-month period in good shape, earning its regular divi- dend of $1.50 a share and extra of 50 cents a share by a margin of 53 cents & share. the annual report just issued e ho e report shows a profit for 1929 of $911,435 before providing for deprecia- | tion and Federal income tax. There . was_reserved for depreciation $241,- 58301 and for Federal income tax $76.226.27, leaving net income for the year $593.625.73 before provisional and it and charges of $36,140.33. 1828 the company reported balance of $700.100, equal to $2.98 on the com- mon stock outstanding at the end of that year. BALTIMORE TUBE CO. BALTIMORE, February 17 (Special). —The Baltimore Tube Co. fevo‘l:! ngt profit of $252.797 for the year ended De- cember 31, 1929, equivalent to $14.44 a share on the $1,750,000 par value 7 per cent cumulative preferred stock out- standing. This compares with net profit ©f 18230,185, or $13.15 a share, for the P : year. vidend has been paid on the preferted stock since March 31, i, and the accumulations at the end of Marck, 1930, will total $63 a share. ‘The operating profit for the year was $394.766.93. The amounts carried to Tesgrve totaled $141.969.10, leaving a netflpmflt of $252,707.83, and brings the profit and loss surplus up to $335,182.16 | at December 31, 1929, $1750, ' BONDS ON THE CURB Attt T Qs Sy PO » C - 2233 35700 3302 o L O, B ens 0 tacmen ™ YS! TR .. 3 ] RN 2 leo 6725 "44 B4 Eq 65 '44. 128 at s B 34 95 a_Pow 55 '67.. 96! Grapd Trunk ¢ B4 B4 137% 138 95 * "9s - L 41a8 is Pow’ 65 Zaison. .. Q277222 it Boaohnnas tEet 55 5637 3 ] 5 s R % . Ast Ts 'S4_.. 90% 901 . b R T T T Weet' ol Ha®s2® 22 0014 10814 10004 7 ubr G Co 6'25 A cia Tngt 7 50 o 6 a0 uB2IILA82R VSRR 8% 10% 132 3% 167% 807% 10% 407 288 64 100 14% 1 1% 2% 8% 118% B 3 2 84 21% 131% 5ia 5% ™% 13% 20 35 100% 19% T4 33% L 14 10% % 24 27 4% 54l 11% 25 15% 10% 14% 547 100 31% Stock and Dividend Rate. Acme WCovte (12)e & Aeronautical Indus.. 1% Aercnautic Ind ware 13% Aero Underwriters., 21w Ainsworth Mfg 333%. 31 Alr Investors vtc. .o 11 Alr InvINCev pro.ee 1's Alexander Indust... 16 All Amer Gen Corp. . 4 Allegheny Gas Corp., % Allied Aviation. Low. 1 Allison Drug St B... Aluminum Co of Am % Am Beverage Corp. . Am Chain (3). Am Cigar Co 374% Am Cit PEL A (a3). 14 AmCP&LB (b10%) 234 AmCwith PAb10%. 3% Am Cmwith Po wa % Am Control Ofl Fids. 254 Am Cyanam B (1. 15% Am Equitie; 654 Am For Power war. 14216 113% Am Gas & Elec (21). 107% 105% Am Gas&Elec pf (6). 14% 10 Am Invesi Inc B.. 4% Am Investors (w: Am Lt & Tract (10) 5 Am Mfg Co (4) 6514 Am Mg pf (5) 133 Am Maracaibo. . 55'4 Am Salamandra (3). 3 18 AmStPubS(A)1.60. 6 23% Am Superpower (1). 337 87% Am Superpow pf (6) 1 94 AmSuper 1stpf(6) 1 5% Am Yvette (new) wi, 2 114 Anchor PostF (2)... 4 15 Anglo-Am vot (73¢). 1 9% Arcturus Rad Tube.. 4 8% Arkansas NatGas... 20 123 8% Arkansas NatGasA. 70 125 102 Ark Po & Lt pf (7).. 108 107% 18 Art Metal Works(3) 1 2414 Asso-Dyeing & Ptg.. Asso-Elec Ind Ltd 143 Asso Laund (320¢).. 4% Asso Rayon 39'5 Asso Rayon pf (6)... 221 Atl Coast Fish(1.40). % Atiant Fruit & Sug.. 13 Auto Musie (A) (1).. 6% Auto Voting Mach. .. Ti Aviation Securitie 122 Babcock&Wilcox 19. 50s 131% 2% Bahla Corp Ceav B 3y 150's Bell Tel of 258 1574 234 Bliss Co (E W) (1).. 26 6% Blue Ridge Corp. 33% Blue Ridge cv pt % Botany Mills. . 7 Bourjols, Inc (1) 36 Brazil Tr& Lt (2)... 10% Brill Corp A (2.60) 27 Brit Am Tob B 11.20. 65% Buckeye P L (4). 3% Burma Corp (t31e).. 5 Bwana M Kubwa.... 28 Cab&Wire LtdA rcts 1% Cab&Wire LtdB rets 4% Cab&WireLtdpf re! 224 Cent & Southw Util.. 34% Cent PSv A (al.75). 19 Cen States El (340c) 4% Centrifug Pipe (60e) 121 Chain Stores Stock. . 53 Ches & Ohio (new).. 261 Citles Service (330c) 2 88 Citles Serv pt (6) % Clark Lighter A..... 63 Clev El lllum (1.60). 18 Clev Tractor (1.60) 3% Club Alum Uten... 54 Colon Ofl. 26% Colts Pat 4 Columbia Syndicate. & 52 Colgate-Pal-P (23) 581y 234 Com'with Edison (§) 70s 277% 315 Comwlith & Sou wi 5% 94 Com'with&Spt(6). 12% Com Wat Ser (b6% % Comstock Tunnel. 4 CAMCoetfs 1% C A M Cocum pf. 5 Consolidated Copper 16 78, 90% Con Gas, Balto(360) 7 116 100% Cons Gas Balt pf A 5. 508 100% 21% ConGas UtA (220). 5 2 10% Con Retail Str 121 Continenta] O! 11 Cord Corp. 5% Creole Petroleum 28 & Cresson Cons (8c)... 13 184 Crocker. Wheele: 36 Cr&Bpf (3%) ww. 5% Curtiss Flying Serv.. 1% Curtiss Wright war. 1% Cusi Mex Mining. 7% Darby Pet (1) 18% Davenport Ho 123 Deere & Co ne 214 De Forest Radio. 4% Derby Ofl & Refin 5_ Detroit Atrcraft Cor. Dolores Esperanza s Aircraft 75¢ Dres(SR)MIE A 3%. Driver Harris(new). &% Dubilier Cond&Rad.. 145 Duke Power (15).... 4% Durant Motors. 25% EastGas& F Asso.. 18% East 8 RAENEANE SR » » i shuo REson® Bales— Add 00. Open. 501 High. Low. Close. 51% 50! 8y hare lots (283s), 51% a1 12 2% 121 121 107% 107% 1078 24'% 131% 181% 131% 21 157w 261 58 80 By EL 14% 1 7 116 1004 281y 3 13% o 1% 8% 228, 129% % 5 4 105% 22% Elec Pw As50 A (1).. 2%% E1P& Lopt war.... 15% Elec Sharehldg (31) 52 El Sharehold pf (6).. 14 Empire Fire Ins..... Empire Pwr Carp(.!’) s Epgineers Gold. .. 18% Kuropan Elec (The). 3% Evans Wallow Lead. 1 Products. .3 +# First Nat Copper.... 100 Florida P&Lt pf (7). 13% Fokker Afreraft..... 6 Foltis Fischer Corp.. 29'4 Ford Motor Can A... 64 Ford Mot of France.. 10% Ford Motor Ltd..... 9 Foremost Dairy Pr.. 17 Foremost Fab (2)... 33 Fourth Nat Inv. 2% Fox Theat Cl A 14% Franklin Mfg (: 20 Garlock Pkg (1.20).. 3 General Baking. 39 General Bak pf (6).. 11% Gen E Ltd rets (50¢) 21 Gen Empire Corp.... 13 GenGas&El (A)... 8 Gen Laundry Mach.. 9% Gen Rity & Utilities. 69 Gen R & Util pf (8).. 98% Ga Power pf (6).... 21 Glean Com Har n(1). 113% Glen Alden Coal (10) 11% Globe Underwriters. IRy L 20% Gram'ph'ne ret. 7 Grand Rap Var (1).. e 115% Gr A & P Tea pf (7). 12% Groc Stors Prod vte. 24 Ground Grip pt (3).. 3 Guardian Invest.... 2 133 GuitOllof Pa (1%). 19 91 Hartforld E1Lt(2%) 258 18% Hazeltine Corp (1) 10 5 i 37% Hydro Elee 305 IMlinots P L (20), 24% Imp O11, Can (80c). 17 Ind Finetfs (b10%), 54% Insull Ut Inv(b6%).. 69% Ins CoN Am (12%) 17 Insurance See (1.40) 20% Intercoast Trade (1) % Intercontinent Petn, 5% Intl Holdg&Inv 10c. . 19% Intl Petrol, n(62%g). 32% Intl Buperpow (31),. 34% 3% 38% 26% 96 16% bdv 234 1% 18% 3% 3% % " 12% 244 244, 2% 2u 1578 1574 26 26 10 10% 0% o 364 26% #* 58 276 80 5% 5% M9 994 14 14 %% * & 2% 2 ™™ 115 116 100% 100% 28% 284 M a4 13% 13% % 1% 12% 12 603, 39% 5% * 244 36% T 2% 1% B4 214 129% 4% 5 100% 106% 106% 2% 344 30 314 384 38 24% 24% 95 96 15% 15% 5214 54w 23% 23w 1% 1% 18% 18% 3% 3% % 3% 3 3n % % 124 124 16% & & Bh 6% 38y 384 3% 3w 2% 2% 204 204 BY% 8% 116 116 13% 13% 24y 24% 3 3 135% 135% 90 90 29 30 b% 6 b4, BY% 18% ' 18% 81% 8i% ay 42 209% 809% 3% 28% 28 38% 40 22 67% 1% 17% 22 3 18% . ~Prev. High. 20 12% 2% 13% 10% Int 45% 404 Interest Eq v pf (3) 3 21 Iron Cap Copper..... 14% Irving Air Ch (1.50), 16% 9% Itallan Superpow A.. 31 28% Johnson Motor Ce... 2% 2 Jonas & Naumburg. 26w 25 KanCity PSvtcApt £ & KerrLake...... 20 16 XKlein (H)pt pf $1.20, 1% 14 Kols Br (Am 8h). 434 35's Lackawanna Sec(4). 87 75's Lehman (The) Corp. 1% 1% LeonardOil..... . 20% 18 Libby MeNeil & L. 18% 1714 Lily T Cup (150).... 22 18% Lion Ofl Refin (2. ™ 3% Loews Ine war. 33 12% Loews Inc deb rt: 307 341 Lone Star, new (30c) 5 34 Loulsiana Lan & Ex. 24% 19% Mae Stores.... & _ 4 Magdalena Syndicat. 104 Marc Int M(52%¢).. 32% Marine Mid Cp (1. 1 Mavis Bottling. 48 Mayflower Assn. ... 5514 Mead Johnson(13%) 10% Memph Nat Gas Co.. 17 Mer Chap & §(1.60). 8% Met & Min Ine (1.20) 2414 Met Chain Stores. 25% Mid Wst Utll (b8%). 97 Mid W Utev pf xwé. 1% Mid West Ut A war 24 Mid West Ut B war 13 Miss River F Cp w 4 18% Mo KanPL (b10% 108 104 Moh H P 1stpf (1) 21 1% Montecatini deb rt % 1§ Mountain & Gulf 8¢). 9% 8 Mount Prod (1 9% 6% Municipal Servicy 12% 7% Nat Amer Co. 14% 81 Nat Aviation. 183 162 Nat Casket (4). 106 Nat Dalry P pf A(7) 36 29 NatEIPoA (1.80).. 19% 17% Natl Fam Strs (1.60) 35% i Nat Fuel Gas (1) 26% 4 Nat Investors (new) 154 25% 19% 18% Low. Divi a 79% Intl Util ptpf (7)... 508 6% Internatl Ut B. 18 Nat Rub Mach (2)... 15% Nat Screen Serv 1.60 50 Nat Steel Corp xw (3 6% 315 Natl Trade Journal 314 Nat Union Radio. 1614 Nehi Corpn (1.30)... Nelson (Herman)(2) 21 911y 100 86% 6l " New Eng PS pr.l.(7) 66% New Jer Zinc (14)... 315 New Mex & Ariz Ld.. Newport Co (2) % N Y Invest (1.20 13% 8 N Y Rio&Bu Alr % 1_:»- Nun,:- Hud P( orth St Pow pf (7). W Engineer (2)... 29% 22% Novadel Agene (2) 1% 1 OhloCopper. 7l% 684 Ohio Ofl (12 110 108% Okla G Bl% 1% Orange Crush (1.50) 7% 3% Outboard Motor (B). 19% 18 Overseas Sec (1). 51 49 TPac Coast Bis pf 3.50. 34% 27% Pac Pub Serv (1.30).. 4% 12% Western Ofl. 1% 1 Pandem Oil. 4 1% Pantepec OIl 13% 11 Param C Mg (2. 161 13 nroad Corp. 100t 101 enn Pr & Lt pf (6). 89% 73 Penna Wa & Pwr (3) Perryman Elec Co. 19% Petrol Corp (1%).... 11% Philippe (L) A (1.60} 15 Philippe (L)B(1.60), 10% Pilot Rad T A (1.20). 10 Pitney B P n (20¢)..: 19 13 Pitts Forging Co. 118 111 Pitts& L E (5). 27% 26% Plymouth Oil (2) 15% 9 Polymet Mfg (31) 104 8% Prince & Whitely... 38% B85% Prince&Whitely of3. 19% 14 Propper Silk H M (2) 19% 14 Prudential Inv. 22% 17% Pub Util Hold war. 28 21 QRSdeVry (80c).. 21 18 Radio Products (2).. 8% RainbowLumProd A 3'» RainbowlLumProd B 5% Reynolds Bros Ine. 94 Rich Radia cum pf.. 26% Rike Kumbler (2.20) 4% 3% Ryan Consolidated.. % ‘% St Anthony Gold. 26'% 19% St Regis Faper (1) 107 106 St Regis Pap pf(7 2 12% 104 Salt Cr 4 27s Schulte Un be-31 St 6% Seg Lock & H (60c) 74 Selected Industries 66 Sel Indallot ofs 6% Select Ind pr (5%). 4% Sentry Safety Cont, 7% Shattuck Den Min. 51'% Sheaffer Pen (12%).. 51 Shenandoah Corp. 33 Snenan Corp pf(ai 41 Sierra Pac Elec (2).. 18 Silica Gelct... 465 Singer Mfg Co (126) 4% Singer Mfg Ltd(30c) 16% Sisto Fin Corp. 137% Smith (A O) (2). % Sonora Product; 5 South Coast 224 So Cal Ed pt 88 S'east P&L pr pf(b. 108 SEP&LpL(T) 4% Southern Corp. 10 Southland Roy 117% S W Bell Tell f (7). 7% 8 W Gas Utll. . 1 Spanish & Gen Reg. . 67 Sple May S pf (6%). 106% Stan Gas & El pf (1) b1 Stand Oil, Ind (2%4). 28 Stand Oll, Kan (2)... 33y Stand Oll, Ky (1.60). 44% Stand Oil, Neb(13%) 81 8tOilof Ohlo (234).. 62 Stand Pow & Lt. 61 Stand Pwr & Lt. B... 99% St Pow & Lt pt (1) 20 Starrett Corp. .. 34 Starrett Corp pf (3).. 66 Stetson (J B) (6% 10 Strauss Roth Strombg-Carl 1% Stutz Motor Car. 14 Bunlnv.. 6% Sunray Oil (40¢) 38 Superheater (13%).. 32% Swift & Co new (2).. 31% Swift Intern’l(3%). . % Syrac Wash M B (1). 54% Tampa Electric (32). 4% Teck Hughes (60c).. 18% Thermold Co (2).... 24 Tobacco & All Stka. . % Tobacco Pr Exports. 41% Transamer (31.60) 6 Tran Con Alr Tran.. 17% Transcontl Ol1 (30¢) 4% Tr-LuxDLPS (A). 4 Tri-Cont Corp war 20 Tung-Sol Lamp (2).. 17% Ulen & Co. 26% Ungerleider F Corp. 26 UnNGCan (11.60).. % Union Tobacco. . . 101 Unit Carbon pf (7).. % 11 Utd Carr Fastnr 1.20 19% United Chemical Co. 82 United Ch pt pf (3).. 14% United Corp war. 15% United Elec Ser..... 5 Unit El Ser pur war, 19% United Co.. 1% United Profit § ) % United Ret Chem Ao, Oven, Close. | High. Bty o B0 | 18% ~Prev. 1930.— Stock and Low. Dividend Rats 18% U S Dairy B... 184% USElec Pwr ww.... 42 20 USFinishing ($2).. USFoll B (1)... US&InSectf (2%).. USS Lines pf (50¢c)... Unit Verde Ext (4).. Universal Pictures. . Utility Pw & Lt(a1). l’.lvllllll;y&lnd..., . til & Ind pf (13%).. Utility. Equltlu‘.‘ 399 Vacuum Of1 (t4%).. Van Camp Packing. Venezuela Ptm(20c). Waitt&BondB(1.40). 2 Walgreen Co. . v S Bales— Add 00. Open. High. 1 18 18 ~Prev. 1930.— Low. Close. | High. Low. 18 20% 22 Watson Stock and 05— Dividend Ra Add 00. Open. High. Low. Close. 1n Walker (H) (1). 8 o% 9% % Walker Mining. sk A—15 ‘ Corporation News (JW) Co. Wayne Pump Wenden Cop Wes Auto Sup A (3 Winter (Benj) Worth Inc A.. 19% Yel Taxi N Y (3). RIGHTS Explire. 3% Con Gas El L&P..April 1 ", Crocker Wheeler . Edison Corp. .. Ma Dividend rates in dollars based on m Feb. 24 Apr. 12 r 6 43 tast quarterly ividend tPartly extra. $Plus extrs in stock. & Pavablein cash or stock. b Pavable in stock. d Payable in oreferred stock. FINANCING TOTAL EXCEEDS BILLION Return to Normal Conditions in Security Markets Re- flected by Flotations. Spectal Dispatch to The Star. NEW ORK, February 17.—New fi- | nancing in the American capital market since the first of the year is now con- | siderably in excess of $1,000,000,000, re- flecting a speedy return to normal con- ditions after the stock market break of last October and November. The ale on which new s ities are being oftered compares favorably with the heavy flotations of the similar period of 1927, 1928 and 1929, demonstrating impressively the ability of American finance to recover quickly from major crises. European markets are much less resilient. An international banker, com- | U menting on_this point, remarked last week that European finance would re- quire as many years as it has taken American finance months to surmount the effects of the stock market crash of last Autumn. Complete tabulation of January financing in this market shows total emissions of bonds and stocks of $824,~ 183,488, as compared with $1066,167,~ 103 in January, 1929; $775026,579 in January 1928, and $941,361,175 in Jan- uary 1927. The tabulation, prepared by the Commercial and Financial Chron- icle of New York, indicates an excep- tionally rapid advance since the recov- ery began. Flotations last September established a record for any month at $1,616,464,867, but this was followed by a drop to $878,901,935 in October. When conditions were at their worst during November, new emissions aggregated only $208,029283, but financing was already far advanced toward normal in December when flotations amounted o $658,012,982. Although stock issues mounted stead- lly until the stock market break, while bond flotations dwindled, this trend has now been reversed and a normal ratio of bond and stock issues has again been attained. Bond issues in January of this year accounted for no less than $575,365,500 of the emissions, whil common and preferred stocks made up the balance of $126,813,054. In Jan uary last year, when the superior appeal of stocks was just beginning, bond flo- tations totaled $337,438,000, being far overshadowed by the common and pre= ferred stock emissions of $633,336,138 Hardly less significant is the change now witnessed in the financing done on behalf of investment trusts and holding companies. Emissions of this character made up the bulk of the im- mense flotations of last Summer, and | most observers contend they were. the chief cause of the stock market break In January last year financing of this kind began to loom large and emissions (of a utility holding corporation for | 60 days, 415-4%4 aggregated $277,013,500. Last month, COTTON MARKET. NEW YORK, JFebruary 17 (#).—Cot~ ton opened steady at a decline of 11 to 16 points today in response to easier Liverpool cables and sold about 15 to 18 points net lower by the end of the first half hour under liquidation, while there appeared to be some Wall Street and local selling. This was probably promoted by the lower opening of the | wheat market and buying was com- paratively limited after the covering| of last week, although there was a| moderate demand from the trade on the decline to 1590 for May and 16.27 for October. Liverpool cables said there had been local, continental and Bombay liquidation in that market with a poor off-take, and reported a fair cloth inquiry for Egypt and the Near East. One of the larger Worth street | houses said their sales of cotton goods | last week were moderately larger than preceding weeks and the best reported for a month, but better reports from the goods trade evidently failed to stimulate much buying at the start, || Markets at a Glanee NEW YORK, February 17 | Stocks irregular; American Tobacco is- | sues touch record highs. Bonds mixed; . S. Governments e Curb ir- regular; ofls depressed by gasoline price cut, Forelgn exchanges easy: sterling and franc sag further. Cotton lower: weak cables and liquidation. ~Sugar steady: trade support. Coffee higher; steadier foreign markets. CHICAGO, February 17 (#).—Wheat weak: financial troubles Winnipeg and lower cables, Corn easy; larger offer- | Ing. Cattle steady to lower. Hogs | higher. (P).— NEW SECURITIES. NEW YORK, February 17 ().—New | security offerings today include: Pirnie, | Simons & Co., 40,000 shares cumulative | |and participating preferred stock to yield 7.20 per cent, priced at $25 a share. Offered by the company. Schebbe Fire Protection Corporation, | 5,000 units, consisting of one share of | preference stock and one-half share of common, priced at $18 a unit. Offered by E. Paul Young & Co. | | “Theatrical Industries Corporation, | 25,000 shares of no par class “A” stock, priced at $12.50 a share. Offered by | Brooks & Co. | Chevolair Motors Co., 25,000 shares of ommon_stock, priced at $18 a share. | Offered by Doroshaw & Co, and E. W. Hays & Co. | Land Bank of the State of New York, $2,000,000 4% per cent bonds, priced at par and offered by the bank. . 0il Output Increases. NEW YORK, February 17 (#).—The output of crude oil in California during the week ending February 15 averaged 65.900 barrels daily, an increase of 61,400 barrels over the previous week. | { | which finaneing had long been in pros- GRAIN MARKET. CHICAGO, February 17 (#).—Sharp breaks in wheat values here took place early today preceded by decided set- backs at Liverpool and by a $2,000,000 grain failure at Winnipeg. Notice was also being taken of assertions current in some quarters that European import- ers had definitely beaten North Ameri- can wheat growers in the price war which has been waged for the last six months. Opening 1 to 13 lower, Chi- cago wheat afterward showed little power to rally. Corn. oats and provis- fons were also weaker, with corn start- ing !2 to 1% off, and subsequently keeping near to the initial range. Reports of entire absence of any de- mand for wheat at Liverpool today went hand in hand with word of an increase of the amount of wheat afloat for Eu- rope and of continued large stocks in Great Britain. Moreover, Argentine of- ferings of wheat to Europe at prices below North American wheat were re- ported as enlarging. Meanwhile, it was ponted out also that only 10 more week: remain before opening of Great Lakes newigation will release further quanti- tles of wheat destined to Europe. Outbursts of general selling of wheat future deliveries in the Chicago market today at times swept into execution numerous Stop loss orders. Downturns of valuegp were further accelerated by announc®ment that the agricultural commission of the French Senate had asked the government of Fyance to au- thorize immediate export or not less than 18,000,000 bushels of wheat and to | pay a bounty on the wheat thus ex- ported. No Indications of any North American export business of much con- smflxencc were apparent over the week end. CHICAGO DAIRY MARKET. CHICAGO, February 17 (#).—Butter unsettled: receipts, 11,176 tubs: cream- ery, extras, 35)>: standards, 35'2: extra firsts, 3415 to 35; firsts, 33 to 34; sec- onds, 31 to 32. Eggs weak; receipts, 12.439 cases; extra firsts, 35! to 36° graded firsts, 35; ordinary firsts, 32 to ———— POTATO MARKET. CHICAGO, February 17 (United States Department of Agriculture).— Potatoes—Receipts, 124 cars; on track, 263; total United States shipments Sat- urday, 802 cars; Sunday, 34 cars; trad- ing slow; market® steady; Wisconsin sacked round whites, 2.50 to 2.60; Min- nesota sacked round whites, 2.35 to %60; :X!dzlsho sacked russets, 3.00 to 3.15; ew, 3 St;el Prices Advanced. NEW YORK, February 17 (#).—Prices of iron and steel scrap in the Chicago district have advanced, heavy melting steel now being quoted at $13.50 to $14 a ton, an increase of 25 cents a ton | over previous prices. MONEY MARKET. NEW YORK, February 17 (#).—Call money firmer, lurr cent all day. Time loans steady, 30 days, 415-43 3-4-6 months, prime commercial paper, 4 30 da: however, such flotations totaled only | pect and which had no relation to the | acceptances steady $63.250,000, and almost all of this amount was made up by a single issue ! | stock market furore. (Copyright. 1930.) 60-90 days, 37 H 3%: 5-6 months, 4-37,. 1508 H STREET WASHINGTON, D. C. E extend a cordial invitation, when you are in Baltimore, to visit our new building at Redwood and South Streets, which we will occupy in its entirety, on Monday, February Seventeenth. Planned throughout by experts, every department offers the investor the most complete and convenient facilities any- where available. * Mackubin, Goodrich & Co. ESTABLISHED 1899 BANKERS Members: New York and Baltimore Stock Exchanges Associate Member: New York Curb Exchange REDWOOD & SOUTH STS. BALTIMORE, MD. 4-5: | NEW YORK, February 17.—The fol- lowing is today's summary of important corporation news prepared by Standard { Statistics Co, Inc, New York, for the Assoclated Press: Weekly News Review. ‘The stock market was moderately irregular during the past week, Our price index of 90 representative stocks advanced to a new high for the year on Thursday, but fell off on the two clos- ing days of the week, ending the period with a slight loss. Strength in_the utility group was the feature. Price index of 20 utility stocks showed a gain of 8.6 points for the week. Indus- trial and rail averages declined slightly. The bond market was dull. Price movement was narrow, our index of 30 issues declining one-tenth of a point from the previous week's close. New offerings aggregated $150,465,000, the second largest week this yea Fallure of successive reductions in money rates to stimulate bond prices to an appreciable extent makes it ex- tremely difficult to forecast any near- term development likely to lift this market out of the comparatively narrow range in which it has been fluctuating. The outlook remains befogged with un- certainty, although the balance of factors at work seems to favor the side of advancing quotations. Brokers’ loans recorded a moderate gain of $48,000,000 in the week ended February 11 to a total of $3,450,000,000. It is important to note that during the past two months stock prices have a vanced much more rapidly than loans. The latest reported total of brokers’ bor- rowings is only about 1.8 per cent above the Jow level of December 18, 1929. In the same period stock prices, measured by industrial averages, have advanced about 9 per cent. On this showing it does not appear that marginal buying has as yet attained dangerously large | proportions. Call money ranged between 4 and 414 per cent. The Federal Reserve consoli- dated statements tor the week ended February 12 showed a decrease of $19,- 700,000 in holdings of bills bought in the open market and small increases in holdings of discounted bills and United States securities. Member bank reserve deposits declined $31,200,000 anc Government deposits $13,800,000. Total bills and securities were $19,400,000 be- low the amount reported a week ago. Trade and industrial developments of . the week were for the most part unfa- vorable. Steel and carloadings figures were the exceptions, both recording im- provements over the previous week's showing, though still considerably be- low a year ago. Steel production was advanced to between 79 and 80 per cent of capacity, contrasted with 77 per cent in the previous week-and 74 per cent two weeks ago. In the like week of 1929 output was at 86 per cent of | capacity. The Companies. | Central Public Service, common stock split number of shares proposed. Middle West Utilitles stockholders to vote on increase of capital stock from 300,000 to 500,000 shares. Ohlo Oil Co. reduces prices for East- | ern grade crude oil 10 cents to 18 cents a barrel. | Prairie Oil & Gas reduces prices of | erud= oil in Mid-Continent field, in line | xlath Standard Oil of New Jersey reduc- ns. five-for-one and increase SILVER QUOTATIONS. NEW YORK, February.17 (#)—Bar silver, 43%5: Mexican dollars, 3215, First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. TRUSTEED SHARES the IDEAL for in- yestors wi 0. ne rincipal. Specially Jerm in vestments funds and fus { organizati Sold in Lots--$100.00 Up Call or Write Standard Collateral Shares Corporation Met. 8188 We Invite Applications for FIRST TRUST LOANS on Improved Property n Periods of 3, 5 or 10 Years BOSS=IHELPS| 17 K St Haneo Insurance There Is No Loss of principal or curtailment of dividend in Guaranty First Mort amply secured on paying properties i Washington and its suburbs and backed by our $3,800,000 resources. Issued to Yield 6% % first mortgage bonds are Id 642 %. Build up a liberal income in these Guaranteed Investments. ued to y May be had in denomination: as low as $250 Monthly Payments if Desired Send for Booklet “The Success Plan” REALESTATE MORTGAGE & GUARANTY CORPORATION Capital Resources $3,800,000 24 JACKSON PLACE