Evening Star Newspaper, February 20, 1930, Page 15

FINANCIA PRIGES ARE MIXED * IN CURB TRADING Volume Falls 0ff When Val- ues Decline—Utilities Group Active. P v BY JOHN A. CRONE. Bpecial Dispatch to The Star. NEW YORK, February 20.—Revers- Ing its trend several times as trading progressed, the Curb Market today was Teactionary in tone, with the volume | of drilings tending to lessen as prices alipped. “The decline began in the utility di- vision, with Electric Bond & Share a leader on the downside. After open- ing off 2% points, this stock regained more than half of its early loss, only to sase down to its opening level later. American & Foreign Power was much less active than on Tuesd: down about 115 points. United Light and Power A early reached a record high price for the year at 42. Northern States Power came within a small fraction of its previous peak. American Superpower declined as Associated Gas and Electric held fairly steady. Memphis Gas featured the natural gas shares as it was whirled by floor traders. Lone Star Gas and Arkansas Gas moved lower in the first few sales, while United Gas advanced. The oils continued to work lower as further crude and gasoline price cuts were _freely predicted by the trade. Standard Oil of Indiana in the first few hours came within a shade of its pre- vious record low price. United Chemical with a gain of 1% points recorded a new top for the year, as did _National Steel tion. Driver Harris New, Technicol and Deere & Co., Th’ll&d higher. Among the higher-priced industrials, Singer Manufacturing opened down 10 at 520, Tubize off 3 at 132, Safety Car Heating & Lighting off 1 at 1301, and Aluminum Limited up 10 at 166. Baltimore Markets Bpecial Dispatch to The Star. BALTIMORE, Md., Pebmndry’;:in— , alive—Turkeys, pound, H b rd , 32a26: Spring chickens, 28a32 poor and thin, 19a20; old 17a18: capons, 30a36; old hens, Leghorns, 23a24; poor and thin, 1 ducks, 17a30; Guinea fowls, each, 4: » igeons, 25a30. pms—necexpls. 1,303 ca nearby, firsts, 3412a35; hennery, whites, firsts, a36. asxne!her-—cood and fancy, creamery, pound, 34a3813; ladles, 31a32; store gacked. 20a21; rolls, 25a28; process, 3234, Vegetable Prices. Potatoes, white, 100-pound sacks, 2.25a2.75; sweet potatoes, barrel, 1.75a 275; yams, barrel, 1.75a2.50; beets, crate, z.oon.:s:mhe-m h"l‘r)mlpeol‘;. 4.00a 5.00; cabbage. hamper, 75a1.00; car- Tots, 100, 3.0024.00;. caulifiower, crate, 1.25a1.75; celery, crate, 2.00a3.25; let- tuce, crate, 2.00a3.50; kale, barrel, 2.20; onions, 100 pounds, 1.50a1.75; peppers, crate, 4.00a7.00; peas, bushel, 2.50a3.00; parsnips, basket, 50a60; spinach, bushel, 90a1. squash, bushel, 3.50a4.00; to- matoes, crate, 2.50a5.00; turnips, ham- per, 30a40; apples, bushel, 60a2.50; cranberries, 5.5026.50; grapefruit, box, 2.50a4.50; oranges, box, 2.00a4.50; tan- gerines, 1.25a3.00; strawberries, quart, Hay and Grain Prices. ‘Wheat—No. 2 red Winter, 1.14; No. 2 red Winter, garlicky, spot. 1.1414; February, 1.14%: March, 1.15; No. 3, garlicky, no quotations. -No. 2 domestic, yellow, 3 .cob corn, new, 4.6524.75. Ofts—No. 2, white, domestic, suuzz- No. 3 white, domestic, S ye Nearby, 85200 earby, . y—Receipts, none: general hay market is quiet; some little hay is ar- Tivi but ly enough upon which to blish quotations by grades. Bet- ter grades of timothy and clover mixed are selling from 16.00a20.00 per ton, ac- cording to quality and condition, re- ceipts by truck supplying most require- ments. Straw—Wheat, No. 1, per QT 9.00a 10.00; oat, No. 1, per ton, 9.00810.00. NEW YORK, February. 20 (#).—The following securities will be admitted to trading on the New Ycrk Stock. Ex- change on notice of issuance: ‘The Commonwealth & Southern Cer- poration, 1,354,924 shares of $6 no par preferred stock and 2,022 444 additional shares of no par common- stock. ‘The Midland Steel Products Co., 96, 930 shares of 8 per cent cumulative first ferred stock ($100 par value) and Kz'.us shares of no par common stock. new, spot, spot, Indian Motoreycle Co., 60,000 addi- tional shares of no par comn.n stock. Liggett & Myers Tobacco Co., 523, 202 additional shares of $25 par val class B common stock. BONDS- ON THE CURB C BONDS. Qelesin, ~ DOMESTIC BONDS. -~ A 8s '28.. :fig'figt! 018 108 108 23 Am Roil M 8s 2 5 Amer Se SERTER BIgE 35,5% 52 ire ton" Poanks Mors 5 ‘42 s P & LS5 54 ... A% eat Eq 44 1. en Wat Wk 6s B '34 95 export, pers G anitob P 6 mphis N 55 T ix.,"l.'-'1 0! EE 22355 ol i = % ieBs: =R e ] N < 8 e, ; Seswanuallibaieunsomunmmmalns o EEw o eSotls PEEEEEIE R £zcce; I s st it e 27% 5 16 134% 17% kel 2 15% 52u 49% £2% 166 28% 4% 5% £0 64 14214 1 12 102% 15% 13% 15% 76 6% % 28% 32% 34 2 131% 650 51 844 1214 16% 12 % 41% 35 Goldman Sachs (b§) 4% 221 254 14% 274 144 30 87% 78 Humble Ol (2). 310, O . 1930.~ Stock and Low. Dividend Rate. Add 8 Acetol Prod A. . 44 Acme W Co vte 343 Aeolian Co pt (7).... 1% Aeronautie Ind war.. 8 Aero Sup Mfg B..... 20% Agfa ANSCO....cccas 21% Alnsworth Mg 33%. 31 Alr Investors vte. .. 11% Afr Inv Incev pr. 126 Ala Gt Sou pf (17).. 2508 16 All Amer Gen Corp.. 4 Allegheny Gas Corp. % Allled Aviation....a 12% Allied Mills (60c). ., 35% Allied Pow & Lt. ... 45 Allled Pwr&Lt pf(3) 7614 Allied PAL 1st pf(5), 108 Aluminum Co, Ltd. . 21% Alumin Goods (1.30). 364 Am Arch Co (3) 4% Am Brit & Cont....u 87 AmChain (3)....... $7% Am Cit PAL A (ad).. 14 AmCP&LB (b10%) 20% Am Colortype (2.40), 23% AmCwlith P A b10%. 46 Am Thread war..... 34% Am Cwith PBb10%. 25% Am Cyanam B (1.60) 15% Am Equities. . 66% Am For Power war., 118% Am Gas & Elec (31). 10 Invest Inc B.... 4% Am Investors (war). 45 Am MfgCO (4)..uuus 1% Am Maracaibo...... 44 Am Phoenix Corp(3) 55% Am Salamandra (3). 10 Am Solvents Chem. . 24% Am Sol Ch ev pf (3). 18 Am St Pub S(A)1.60, 28% Am Superpower (1). 94% Am Super 1st pf (6) 873 Am Superpow pf (6) 5% Am Yvette (new) wi. 27% Amster Trad (1%).. 11% Anchor Post K (2) 16 Anglo-Am vot (73¢) 124 Apex Electrical M 9% Arcturus Rad Tubs 0 o BT I YT - 47 102 Ark Po & Lt pt (7)..160s 2 Asso-Dyeing & Ptg.. 1 6% Asso-Elec Ind Ltd. .. - 1 Asso Laund (320¢).. 4% Asso Rayon. 3 39% Asso Rayon pf (6)... 2214 Atl Coast Fish(1.40). % Atlant Fruit & Sug.. 1% Atlantic Lobos O1] pt 22% Atlas Plywood (2)... 18 Atlas Stors Corp(i1) 14 AutV Mevprpt(2), 7 Auto Musle (A) (1)., 12% Aviation Credit. . 36 Axton-F Tob A 3.20.. 2% Bahia Corp........s 31% Blaw-Knox Co (1%). 234 Bliss Co (EW) (1).. 6% Blue Ridge Corp. 33% Blue Ridge cv pf 27% Blumenthal (8). 14% Brillo Mfg (1.20).... 3 BrCelanese Ltd rots 24% Buf Niag&EPpf 1.60. 32% Bulova ev pf (3%) 7 Bourjols, In¢ (1)...4 3% Burma Corp (t31¢).. 11% Butler Bros (30¢). .. 5 Bwana M Kubwa.... 1% Cab&Wire LtdB rets. nou = T = - HOANE D BN AR H T8 BN -k SN NN e 8n BN £8 Citles Serv pt (6) 63 Clev El Illum (1.60. 18 Clev Tractor (1.60). 3% Club Alum Utel 26% Colts Pat Fire A Colgate-PaliP (234). 20 Colum A Pev pf (2). 95% Comwith Pow pf (6). » & Consolidated Copper. 90% Con Gas, Balto(3.60) 21% Con Gas Ut A (2.20). 10% Con Retail Strs (1).. 101% Cont G&EIl prpf (7). 12% Continenta] O1l 11 Cord COrp....eusmeer 12% Corroon & Reynolds. 73% Cor & Rey pf A (6).. 5% Creole Petroleum. ..: 4 Cresson Cons (8¢) 18% Crocker Wheeler.... 321 Crown C&S pf 2.70).. 1% Curtiss Wright war.. 1% Cusi Mex Mining.... 123 Deere & Co new w.l.. 435 Deere & Co (36). 2% De Forest Radio. 4% Derby Oil & Refin. 5 Detroit Alreratt Cor. 24% Detroit Gasket(1.20) 12% Douglas Afreraft 750 31 Dres(SR)MIgA3%. 41 Driver Harris(new), 8% Dubliller Cond&Rad., 4% Durant Motors. . 13% Duval Tex Sul w.l.a 25% EastGas& F Asso. . 18% East States Po B(1 % Eastern Util Inv A, 14 Eisler Elec (1.50) £0% El Bond & Sh (b6, 103% El Bond & Sh pf 24% Elec Pow As80 (1).0 22% Elec Pw Asso A (1) o e T v 0 1 OV 8 TR 1 b S8 1 80 08 0B 110 0k 89 o B mSRacaar 3 IS TR PRS- T o oo Empire Fire Ins..... Emp G F cum pf (8). Empire Pwr Corp(2) 15 2 Fabrios Finishin 214 Fageol Motor. 7 Fansteel Produe 9 Fedders Mfg Co (A). 33% Federal Screw (3)... 1% Fiat Stkdebrts..... 3% Financial InvN Y..w 18% Fokker Alreraft. 29 Ford Motor Can 6% Ford Mot of Frane © 16'% Fore D Pr pf (1.60) 17 Foremost Fab (2). Fourth Nat Inv. 214 Foundation For Shi 2% Fox TheatClA..... % Freed-Eiseman Rad., 2% General Baking. 384 General Bak 'tl.) 11% Gen E Ltd rcts ¢50¢) 13 GenGas&EI(A)... £ Gen Laundry Mach.. 9% Gen Rity & Utliti 69 Gen R& Utll pt (6).. 113 Glen Alden Coal (10) 11% Globe Underwriter: 7% Goldberg Stores # Gold Coin. LT PP S =T T TS Ty - onrBratnd 8- oo 3 Gold Seal Ei 20% Grawm'ph’ 81% Graymur Corp....ee 236 GrA&PTnv(6)... 1% Grifith DW) A..... 12% Groc Stors Prod vt 24% Ground Gripr (11%). 133 , Gulf Ofl of Pa (1%). 181 Hazeltine Corp (1)., 5 Helenn Rubenstein. . 41 Horn & Hard (2% 8% Hudson Bay M&S.. - Suxtlclan Barwd PR 37% Hydro Elec Serv (2). 805 Ilinois P L (30). 28% Imp Ofl, Can (5 3 38% Indiana P L, n(12%) 12% 12% 107% 107% 3 3 61 6% 42% 42 % 1 5% 53 % Y 5% 53 26% 26% & W 4% 41% 3 334 27% 82% 114% 1 16 14 8 12! &2 14! 16! % v % % % 00. Open. High. Low. Close. 2 9 9 9 9 5214 ~Prev. High 39% 60 Stock and Low. Dividend Rate. 20% Indian Terr Illum... 135 60 Indus Finev pf (7).. 268 5414 Insull Ut Invi(be% ). 5 69 Ins Coof N Am (13). 17 Insurance See (1.40) 20% Intercoast Trade (1) % Intercontinent Pet n, 7% Intl Petrol. n(62%e). 32% Intl Superpow (31). 67 Internatl UtB...... 1% Internatl Util (war), 40% Interest Eq cv pf (3) 24 Iron Cap Copper..... 12 Irving Air Ch (1.50). 9% Italian Superpow 5 Itallan Superb wi 28% Johnson Motor Co. 1% Kirby Petroleum 85% Lackawanna Sec(4).. 1% Land Co of Florida. . 22% Lane Bryan tine (2). 14% Lefcourt Real 11.85., 29 Lefcourt Real pf (8) 75% Lehman (The) Corp. 1% Leonard Ofl..... Libby McNell & L., 17% Lily T Cup (150) 18% Lion Ofl Refin (2 124 Loews Ine deb rt 3% Loews Inc war...... 3414 Lone Star. new (20¢) 40 Long Isl Light(60c). 107% Long Isid Lt pf (7).. 3% Loulstana Lan & Ex. 19% Mac Marr Stores. .., ' Magdalena Syndicat, 37 Mapes Cons Mfg (3). 10 Marc Int M(523%e¢).. 323 Marine Mid Cp (1.20) 10 Marion St M; Bowo= 5 o weS wn FasmeoaneBon o s Co.. 174 Mer Chap & S(1.60).. 80 MerChap&S pf A 6% 8% Met & Min Ine (1.20) 22 MIdl Unit (b13% %).. 2514 Mid Wst Util (b8 % ). 97 Mid W Ut ev pf xwé. 1% Mid West Ut A war.. 3% Mid West Ut B war., 29 Miller & Sons (2) 30% Miller Rubber pf. 13 Miss River F Cp war. 18% Mo Kan P L (b10%). 104 Moh HP 1stpt (7).. 22% Monoga WPP pf 1% . 48 Moore Dr Forg A(6) . 24% Mtg B,ColAm sh 1.91, 38 Morison Elec (31). 8 Mount Prod (1.60). 7% Nat Amer Co. - 814 Nat Aviation. - 162 Nat Casket (4)...... 3 NatFood P, B(b2%). 254 Nat Fuel Gas (1).... 124 Nat Investors (new) 1084 Nat Pow & Lt pf (7). 22% NatPub Sv A (1.60). 50 o a 3 < SoRmren or 508 1 rom o EET TS =101 SR P 16% Nehi Corpn (1.30) 115 N I £5 53 oW 23 E 5d g 5 =3 33 5 5 ptune Meter (2).. 'w Brad Oil (50¢).. 88% New Eng Pow pf (6) 66 New Jer Zine (14)... s 22% N Y Invest (1.20).... 16% N Y Merchandise (2) 8 N Y Rio&Bu Air N Y Tel pf (6% . 11% Niagara Hud P(40c) 3 Niag Hud Pw A war, 6% Niag Hud Pw B war, 12 Niagara Shares Md... 27% Niles Bement Pond.. 1% Nipissing (30¢)..... 12% Noma EIl Cor (1.60). 84% Noranda Mines (3). 5% North Am Aviation.. 5 North Am Util 8 7% North Cen Tex ( 170 North St Pow A - 22% Novadel Agene (2). 74 Ohlo Brass B (5). 1. - Ohlo Copper 664 Ohio Oil (12 8 Ollstocks,Ltd A NS wramarcdeua - o I - enS wRaa~Sen = 18 Overseas Sec (1). 264 Pac G&El1stpf1%.. 27% Pac Pub Serv (1.30 10% Param C Mfg 12 Pennroad Corp. 32 Peop LAP A(al. 19% Petrol Corp (134) % Philip Morris Ine. 10 Pierce Govern (1% 104 Pllot Rad T A (1.30) Pitney B P n (200) &LE Radlo Products (2) .. Ry & Util Inv (A)... 8% RalnbowLumProd A 3% RainbowLumProd B 2% Relter-Foster (40¢c).. 0% Steel cum pf wi.. 5% Reynolds Bros Ine... 15 Root Ref cv'pr pf 1.80 %% St Anthony Gold. 19% St Regls Paper (1 120% Safety Car H & L(8). 2 Salt Creek Con (40¢), 10 Salt Creek Prod (2).. 2% Schulte Un 5e-3$1 8! 6 Seg Lock&H ( 7% Selected Industries.. 66 SelIndallotefs 6% . 59 Select Ind pr (5%).. 2% Belfridge Prov 8§ 27, 4% Sentry Safety Cont., 7% Shattuck Den Min.., 75 Shawingan Wa(2%). 51% Sheaffer Pen (12%).. 8% Shenandoah Corp. ... 33 Shenan Corp pf(ad). 473 Siemens and Halske, 41 Sierra Pac Elec (2).. ) er Mfg Co (126) to Fin Corp. % Sonora Produots. ... 37% South Penn Ofl (2).. 35 SEP&Lwar,. 28'5 SoCalRApf A(1%). 23 So Col Pow A (2). 4% Southern Corp. . 91 Southland Roy ( 117% S W Bell Tell pf ( 7% S W Gas Util. 1 Spanish & Gen 20% Stand Dredg ($80c 49%4 Stand Oil, Ind (2% o S T I C T @ - 88 Superheater (13%). 82% Swift & Conew (2).. 314 Swift Intern’l(2%).. 8 Syrac Wash M B (1), 54% Tampa Electric (32). 79% Technicolor, Inc 8% Texon Ol & Lan 187 Thermold Co (2) 28% Third Nat Inv (1) 103% Timk Det Axle pf(7) 24 Tobaceo & All Stk % Tobaceo Pr Bxpor 41% Transamer ($1.60). 6 Tran Con Alr Tran.. 17% Transcontl Ofl (30¢) 4% Tr-LuxDLPS (A). 4 Tri-Cont Corp war.. 11% Tri-Continental Cor. 76 Tri-Cont Corp pf(6). 11 40 TriUtilitles (11.20). 9 136 Tub Art Silk B (10). 130s 17% Ulen & Co. . lelder e - = pesoneSa cSorvnolarwarmn- =t YS =t 2 3 1 1 6 Sales— Add 00. o;!n_ Hign. 0 % 248, 130% D. C, THURSDAY, FEBRUARY 20, 1930, TRANSACTIONS ON THE NEW YORK CURB MARKET Notice—All l‘t::lll l'r:- l;’“ ‘I;I excepting those gna e letter (65s) which ‘shows those stocks to be sold in 'Il.lou only 4 1104 3 19 Stock and . Dividend Rate. 9% United Chemical Co. United Corp war.... 5 Unit El Ser pur war. 1 Utd Founders(b2-35) United Gas Co...... Unit Lt&Pwr A (60e) Utd Lt & Po ot (8) U S Dairy (A) (6. S Da 8 Finishing (32) SFoll B (1)... S Gypsum (1.60) S&InSectf (23).. U S Lines pf (1)..... U S Radiator ctfs(2) Unit Verde Ext (4).. United Wall Paper Utility Pw & Lt(al). gtlmy& Ind. ... til & Ind pf (1%) Utllity Equittes. Vacuum Ofl (t4%) - INVESTMENT TRUST 0 BARE PORTFOLIO Quarterly Statements of Se- curities Held Will Be Published. BY CHARLES F. SPEARE. Speclal Dispatch to The Star. NEW YORK, February 20.—The de- cision of one of the largest groups in the investment trust field to publish quarterly statements, including a bal- ance sheet, which has the support of the New York Stock Exchange, is look- ed upon as one of the most construc~ tive developments that has occurred since this class of securities began to attract public attention, ‘There is a strong conflict of opinion among managers of the various invest- ment trusts and trading corporations on the subject of making public their rations. The New York Stock Ex- change listing requirements insist that they annually-present a statement of the various securities held in their portfolios, It is recognized that this list changes e a great deal from time to time and 6% 23% 128 31 2% 89% 3 116% 29 116 16% | premium from this basing point. 17 v 214 20% 15 2 10% 10% 3% 3w 5% 5% 9% 9y gt 64% 2% % ™% % 56U 13% 42% 473 564 29 133% 19 35 £ 5 15% 1304 1 2 5% 1 68 14 6 16 pelling a corporation to expose its portfolio at shorter periods. In fact, it would be unfair to exact such a de- mand, as it would uncover the trading position of the corporation. Conse- quently, the new plan only deals with v'\:ehn may be considered balance-sheet items. ‘The solution that the public buying investment trust shares is most anxious to know about is whether the total mar- ket value of a co tion’s portfolio is above or below the cost value. In other words, is its liquidating value up or down from market value figures? At present some of the investment trust and trading corporation stocks re selling at a discount from their ‘break-up” value while others are l;'h a e extensive recovery in stocks since the middle of January has changed the picture for many of the finance cor- les— Add 00. Open. High. Low. Close. 4 { | rations and added millions of dol- | lars to the market value of the stocks held in their portfolios. In some instances, it has returned the total market value to the equivalent of original cost after the company had shown a depreciation in its securities ranging from 5 to 15 per cent as of December 31, More and more there is developing the opinion among investment trust managers that the public has the right to know to the fullest extent what their companies are doing and where they stand with respect to their hold- ings and the cost and market price of the latter. The insistence by the New York Stock Exchange on a moderate amount of publicity for stocks of these companies has kept the number of those listed down to a relatively small proportion of the total whose markets exist elsewhere than on the “big bo;rd o t is felt, however, that gradually they will all adopt a more generous atuitude and, while by the very nature of their business, they cannot expose their positions in securities with any frequency, they give a more complete outiine of their policies and ‘earnings than many of them have so far been willing to do. (Copyright, 1030.) - CHICAGO LIVE STOCK MARKET 29% % 244 30% 2 10% % | erally steady; ™ | downward to '11.50; all she stock CHICAGO, February 20 (#)—United States Department of Agriculture. — H Receipts, 30,000 head, including 5,000 head direct; market mostly 10 to fairly active at the decline; bulk, 160-240 pounds, 10.50 .10; 250-300 pounds, 10.25 to 10.50; butchers, medium to . choice, 250-300 ;lzgusx;dt 10.00 to 10.50; 200-250 pounds, | B to 11.15; 160-200 pounds, 10.50 to 11.15; 130-160 pounds, 9.40 to 11.10; packing sows, 8.65 to 9.75; pigs, me- ?(l)ufinll)l to choice, 90-130 pounds, 9.00 to receipts, 2,500 head; steers trade gen- top, 14.50; bulk, 13.25 to 25 lower, very draggy; classes, steers, good and choice, 1,300- 1,500 pounds, 13.00 to 15.50; 1,100-1,300 pounds, 13.00 to 16.00; 950. 13.00 to 16.00; common 850 pounds up, 8.75 to 13.00; fed year- lings, good and choice, 750-950 pounds, 13.00 to 16.00. Heifers, good and choice, 850 pounds down, 1150 to 14.25; common and medium, 8.00 to 11.50. Cows, good and choice, 7.50 to 10.00; common and me- dium, 5.50 to 7:50; low cutter and cut- ter, 4.60 to 5.75. Bulls, good and choice (beef), 7.75 to 9.00; cutter to medium, 6.75 to 8.25. Vealers (milk fed), 40 9% 116% 24 24% and choice, 10.00 to 14.50; medium, 9.00 to 10.00; cull and common, 7.00 to 9.00. Stocker and feeder steers, good and choice, all weights, 10.75 to 11.75; common and medium, 8.00 to 10.75. Sheep—Receipts, 10,000 head; market opening slow; steady to weak; early bulk fat lambs, 11.00 to 11.60; top to 1 | Outsiders, 12.00; fat ewes, 6.00 down; 1% 1% 241 50% 27% 35% 42 5% 43% 82y 32 814 601 BO% B0 22% 42 100 38 1% 46 ™ 16% 828, 4T 133% feeding lambs steady; top, 10.50. Lambs, good and choice, 92 pounds down, 10.40 to 12.00; medium, 10.00 to 10.75; com- mon, 9.00 to 10.00; medium to choice, 92-100 pounds, 9.25 to 11.35. Ewes, medium to choice, 150 pounds down, 4.75 to 6.00; cull and common, 2.00 to ’eeldoego lambs, good and choice, NEW YORK COTTON. NEW YORK, February 20 (#).—Cot- ton opened steady at a decline of 3 to ® points today and soon showed net losses of 7 to 12 points, under selling promoted by relatively easy markets in Liverpool and Bombay. There was some trade buying and covering at the decline, but it was in comparatlvely light, while there was further liquida- tion and scattered selling, which ap- peared to come partly from the South. This was in sufficlent volume to glve the market rather a nervous or unset- tled appearance and after selling off to 1644 for May and 15.83 for October, it hese figures at the end of the first half hour. Liverpool cables reported continen- tal and Bomb-x liquidation in that market and noted a slight improvement in demand for cotton cloth from In- dia, but said sales at the Shanghal 18% lnucuom were disappointing. 34 | Caitle—Recelpts, 7,000 head; calves, | & 41 20% 1 43% 42 20% 1 42 West Mass 6% 3% Winter (Be: 20% 3w “ K3 % 10 % Eisler Electr! # Newport Co_ .01 Trans Corp. 90 cash 2% So. Cal. Edisb: FINANCI ‘Wenden Copper. Co (2) nj) 17% Zonite Prod (1. RIGHTS. 5 3% Con Gas El L&P..April 1 % Crocker Wheeler ..Feb. 34 Expire. 4% 4% 4% 2% 2% 2% % % % 6 & & & A 25 3% 3% 3% 3% 8 08 .08 .02 .02 4% 2 ie. % .““lpv'l:;gan{n- o dollare based on last quarterly er semi- o utorn Tt T T T TR R —_— STOCK AND BOND MARKET AVERAGES By the Associated Press. years 1416 Three years ago, weekly aver..108.8 High (193¢ Low (1930 . Total sales, 3,484,810 Today .... Previous day. Week ago Year ago. Two years ago. Hign (10500 o ( Low (1 OIL FIRM DEFENDS Iy CHICAGO, February 20 (#). RECENT PRICE CUTS o sine i v o o Wheat market repeatedly today into lower de) Standard of New Jersey Calls At-| geaso, tention to Increase in Stocks. By the Assoclated Press. NEW YORK, GRAIN MARKET. avalanche headway plunged the pths for the fourth successive day. n low-price records both for wheat and corn went into ec} about 125 lipse, with wheat week’s top under the present supplies Atfi:”“ with no sight continued February = 20.—The | turbing Standard Ofl Co. of New Jersey in the | set to cents a bushel down from last point and about 54 cel:llu best figures for the crop. Big of wheat in North quick export outlet in to be the chief dis- factor, but was frequently off- notable degree by increasing current issue of its house publication, Unfavorable domestic crop reports. | the Lamp, discusses the crude oil situa- | tion with special reference to the re- cent price cuts and asserts that im- ?rovement in the industry or the solu- fon of its important problems “cannot | be realized while additions are being | made to tocks.” “The immediate problem before the lustry,” says the Lamp, “is to effect a | pr ki ‘The company says it accepts recent | criticisms of its crude oil price revi- slon policy as sincere and in the in: terest of conservation. “It has been represented,” adds the “that | M Justified by conditions and that it would cause the withdrawal of support from the conservation movement. Whatever Rt | i & 3 year’ ns, “The Standard Oil Co. (N. J) through its affillated companies, in a dition to its own uction, is pur- cl each day quantities of crude ol at the posted prices. On the other hand, a number of other com- panies with refineries on the Guilf or in mid-continent field are pro- ducers of crude in an amount equal to or in excess of their own refinery runs. They are. therefore, more concerned with the posted price of crude as sellers than as buyers. These finers have been able to sell products at prices below the equivalent of the posted price of crude at the wells plus transportation and manufacturing cost.” “Since the only measure of the value of crude,” continues the Lamp, “is the price lized for the products, the companies afliated with the'Standard Oil Co. found it necessary to adjust their posted prices at which they would purchase crude to a gasoline market that had been steadily declining.” fondon aris, ra Brussels, by riin, mar ome. lira. Zurich, ' frane: Athene, drachmi cents a bushel lower finish. cents higher, oats decline to 3aali-cent advance, WHE. the already burdmwme‘“:gen Wheat closed nervous, 1 cent to 2 than yesterday's Corn closed unchanged to };/. varying from 14-cent down. ovisions unchanged to 20 cents AT— High. Low. Close. July 100 Septerns CORN: TREASURY CERTIFICATES. (Reported by J. & W. Seli n & Co, fi“fi:!‘rf"fif"i m‘;‘;‘g. 1 ¢ Mar. 16, 19820000 o9 Money to Loan red by first deed of trust on resl estate. BUILDING ASSOCIATION 7th St. & La. Ave. N.W. Shares of Stock, $1.00 Each A %y A—15 SURPLUS IN WHEAT 300,000,000 Bushels of Old Crop Remain as Winter Harvest Nears. BY OWEN L. SCOTT. Special Dispatch to The Star. CHICAGO, February 20.—A crop of prospective bumper proportions is about to start growing in the great Southwest ‘Winter wheat territory, just when ap- proximately 300,000,000 bushels of old crop wheat hangs like a dead weight in grain prices. The trade feels that in's dramatic, though ke crapasioes & dramatic, e em) Tooe of Something Sbocomenin & Myice ace of somet) app: a buyers’ England, aimed at North American wheat, the efforts of the Federal Farm Board to stabilize prices have appeared futile up to the present. The total United States wheat crop this past season, with 245,000,000 bushels of carry-over added, was about one billion bushels. Domestic consump- tion takes care of about 659,000,000 bushels annually, leaving 350,000,000 bushels for export. Of this amount only about 100,000,000 bushels has been ex- ported up to the rresent. On top of this situation, with wheat now selling in terminal markets at little above $1 to farmers, the Northwest grain growers are contemplating an in- crease in acreage. They are pictured as angered by the Farm Board effort to force them to hold down planting be- cause this move was not made until r Winter wheat growers in the Southwest had their crop in the this Winter wheat crop will yield about 576,000,000 bushels. It easlly could pass thl; amount be- ada ded Canadian wheat pool, along the lines of what the Federal Farm Board is doing by building an American co-operative organization, has gambled with world conditions and has lost. It is holding, So traders estimate, over 200,000,000 bushels of old crop of wheat for which no sizable market appears, The English, usually iarge buyers, have been taking Argentine wheat at lower prices and now are lowe; the cost of bread on the basis of ap purchases, (Copyrisht, 1930. Investment Securities A Common Stock earni Nat. 1926 For construction and re. financing apartments and office buildings. Louis P. Shoemaker 1407 New York Ave. Nat’l. 1166 Payable Monthly E. Connelly James F. 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