Evening Star Newspaper, February 25, 1930, Page 14

A-14 #x® FIN INSTALLMENT SALES| [ SHOW-GREAT GAINS Last Three Years Have Wit- nessed Huge Increase in Credit Buying. BY JOHN F. SINCLAIR. Epectal Dispatch to The Star. NEW YORK, February 25.—When Prot. E. A. R. Seligman of Columbia University completed his study of in- stallment buying, he said that the sys- tem had in it the elements of great development, but that it would have to be handled with care. The world has heard much about American lal buying automobiles, radios, pianos, vacuum cleaners, and many writers have pointed to this fact as Incontrovertible evidence of the prosperiiy of labor. | And during this time the future earn- ings of American workers were being pledged, through the process of instali~ ment purchase, to an extent never be- fore equaled. Dr. rrank A. Fall, director of educa- tion and research of the National As- sociation of Credit Men, has issued fig- ures to show the extent of instaliment ing in 1926. Later figures are not yei available. He shows that 85 per cent ol the furniture, 80 per cent of the phonographs, 75 per cent of the washing machines and automobiles, 65 per cent of the vacuum cleaners, 40 per cent of the piapos and 25 per cent of the jewelry were bought during that year on the installment .plan. Un- doubtedly, the last three years have shown a much greater proportion of in- stallment sales. " But look at the amazing resilience of American industry! Builaing and loan associations now have resources exceed- ing $8,000,000,000; savings bank depos- its ag = about $28,000,000,000 more. | Halt of the American people own their own nhomes, while between 15,000,000 and 20,000,000 people own stocks and bonds in various corporations. More than $100,000,000,000 of life insurance is car- ied by 60.000,000 people. pt llment buying carried on for decazes within modest limils by several American corporations, notably the In- ternational Harvester Co.and the Singer Sewing Machine Co., has worked out in an eminently satisfactory way. But installment buying of every lux- ury and almost every necessity of lite on such an extensive scale as practiced during the last few years does present elements of very great danger to busi- ness. Extra-fare Trains. The extra-fare train came in a mod- est way some years ago to provide busi- ness men between New York and Chi- cago with certain services that could not be secured on train run on regular schedule. So popular have these specials become that toaay two-thirds of all trains oper- ating on the New York Central between Chicago and New York are of the extra- fare class. The Pennsylvania Railroad has much the same situation. Now the Interstate Commerce Com- mission is investigating with a view of finding out whether the service on regu- lar trains 1s being sacrificed. Mean- while, thousands of passengers, traveling by the regular schedule, minus the ex- tra fare, are finding it more difficult to get the adequate service they had be- lore extra-fare trains had become so popular. Recently the Chicago Association of Commerce complained that the citizens of St. Louis who.pay for the better class of service receive too many advantages and favors over Chicago citizens travel- ing on regular trains, ‘The report of the Interstate Com- merce Commission on the subject ihou!dwn\’e\inbeltsung reading. Russian Purchases. In these days American business is not turning the cold shoulder to orders coming from Amtorg, the Russian- American trading - corporation, the most’ active buying‘organization in the United States today. ‘Texas is*shipping a $25,000,000 order to Northern Russia. Durin, the year 1928-29 the total amount of American cotton purchased by Amtorg was valued at $30,000,000—about $22,000,000 less than in the preceding year. Cotton growing areas in other parts of the world caused the decline. The Allis-Chalmers Co., Milwaukee, has Amtorg orders for tractors valued at $3,500,000. . Throughout the Unitad States the total tractor shipments to Russia before the end of March will ex- ceed 30,000 units, valued at about $25,000,000. Amtorg has bought in the United States this year 17,000 plows, 2.000 drills’and 18,000 special drills for cotton and corn. “No one not closely in touch with the Russian situation can realize the tre- mendous amount of money which the Soviets are putting into agricultural de- velopment—that 1is, agricultural ma- chinery,” says Thomas D. Campbell of Montana, an agricultural adviser to the oviet government in the United States. T should not be surprised to see $500,- 000,000 spent in the United States for agricultural machinery in the next 10| rs.” 2 Soviet Russia, unrecognized here po- litically, is doing more business now in the United States than in any other country in the world. (Copyright, 1930. by North American News- paper Alliance.) Business Notes By the Asse d Press. % NEW YORK, February 25.—Buying continues steady in the principal elec- trical equipment market centers of thel United States, Electrical World reports. The volume of business reported.in the past week showed definite gains for most sections of the country, with rail- ways and industrials the most active purchasers. The year 1929, as a whole, was an excellent one for life insurance in Can- ada, according to the Life Insurance Sales Research Bureau of Hartford, he country averaged a 6 per se over sales in 1928. Only three months-fell below the production of the same. months of the preceding year. Lumber orders were 3 per cent less and shipments 6 per cent less than pro- duction for the week ended February 15, it ‘is shown in reports from 831 wood and softwood mills to the onal Lumber Manufacturers' Asso- iation. These reports gave combined | production as 328,300,000 feet. A week Yearlier, with shipments and orders in the same relation as for the latest week, 828 mills gave production as 308,- 073,000 feet. Raw silk futures, totaling 9,760 bales and valued in excess of $5,500,000, changed hands on the National Raw Silk Exchange last week in one of the most active weeks in the history of the | exchange. N In spite of the shorter working month, consumption of ecrude rubber during February will total approxi- mately 32,000 long tons, it is estimgted by members of the Rubber Exchange of New York. This will compare with more than 36,000 tons consumed dur- |t ing January. RIS Steel Sheet Production. NEW YORK, February 25 ().—Janu- ary production of steel sheets totaled 291,529 tons, or 77.6 per cent of rated capacity of the reporting companies; compared with 181,916 tons, or 60 per cent, in December, aceording to the Na- tional Association of Flat Rolled Steel Manufacturers. Unfilled tonnage on uary 31, was 558,412 tons, as against 127 tons at the end of ANCIAL. , (Continued From Page 13.) ~Prev. 1030.— Stock and Sales— High. Low. Dividend Rate. Add 00. Hi % 4% Motor Meter G&E.. 11 ° 32 2614 Motor Wheel (3). 12% Mullins Mfg. .. 57% Mullins Mfg pf (7) 18~ MurrayCor(b2%stk 35% Myer(FE)& Bro (2). 51% Nash Motors (6). 21Y% 15% 58'% 131% 1 26% 20% 15% 214% 177 Nat) Biscuit (7).. 87 71 NatBisn (p2.80). 73 NatCash Reg.A(14). 45% Nat Pairy (32). 29 . Nat Distillers (2) 27% Natl Enameling (2) % 137 National Lead (18). 116 Natl Lead pf B (6). Natl Pwr & Lt (1) Natl Radiator pf. Natl Rys Mex 2d pf. Natl Supply (5) 32% 27% Nevada Copper 57% 40 Newton Steel (3). 324 180 N Y & Harlem (5) 192% 167 N Y Central (8) 144 130 NYChi&StL(6). % 108% N¥-NH & Hart (6). % N Y Ont & West N ¥ State Rys pf. 16% Norfolk Southern. ., 93% North Am(b10%stk) 844 Northern Pac (5).... 8214 North Pacet (5). ..., Oliver Farm Equip. . 1% Oiivr Fr £q ev pt(3). §1% 70 Olivr Fr Eq pf A(6) 3% 2% Omnibus Corp 833% 280 Otis Elevator 63 50 Outlet Co (4) 52% Owens 11l Gla: 524 Pacific Gas & E (2).. 72 Pacific Lighting (3). 21 Pacific Mills. . 5808 1 Pacific Oil stubs.... 4 150 Pacific Tel & T (7).. 100s 116% Pacific T & T pf (6). 50s 15% Packard Motor (1).. 578 50'% Pan-Am Pete B. % 4% Panbandle P& R.... 675 48% Paramount-F-L (4). 25 Park & Tilford (33). 17% Parmelee Trans 1% 2% Pathe Exchange 5 Pathc Exchange A. . 28% Patino Mines (3.89). 6a Peerless Motor Car., ., 374 264 Penick & Ford (1)... 80 Penney (JC) (2%).. Pen (J C) pf A (6).. 8% Penn Coal & Coke. 614 Penn Dixie Cement. . 30% Penn Dixie Cemt pf. . 724 Pennsylvania RR(4) 94% Pere Marq pr pf (5. 38% Phelps Dodge (3). 11% Phila& Read C&I.. 8% Philip Morris (1). 29% Phillips Petrm (n2). 1 Plerce Oil. 9 S HRRaTmanemoe e S 5 23% 423 - s - EFROHa~ =S 60% 64% 93% 30 1% 178 45 1874 (20 < o ¥5% 98 431 17% 21 EnilronmmavoabloIne © e 8% 2% Pierce Petroleum. 50% 45 Pirelli Co A (2.88) 20% Pittston Company % Poor & Co (B) (2)... P Rican Am To (B).. 524 48 Prairie Oil & Gas(2). 60 58 Prairie Pipe L (15).. 16% 7 Pressed Steel Car. 69t 52% Proc & Gamble (2) 9% 6% Prod & Refiners. 54% 46 Prophylactic Br(2 96% 81% Public Serv. NJ 3.4 93 92% Pub Sve NJ pf (5) ¥9% ¥2% Pullman Corp (4). 81 5% Punta Alegre Sugar., 24% 215% Pure Oll (1%),.... 113% 112% Pure Oil pf (8) . 88% 77 Purity Bakeries (4). 46% 34% Radlo Corp. . 73% 68 Radio pf B (5). Radlo-Keith-Orph A, PR renSaRerRane e~ (Robt) & Copf. 7% 25% Rem Rand (50c; 14% 10% Reo Motor Car (.80) 89 72% Repub Ir & Steel (4). 114 107 Replr& Stpf(7)..: 7% 4 Reynolds Spring.. 80 72% Reynolds Tob A (3). 55% 49% Reynolds Tob B (3)., 264 21% Richfield Ol (2)..... 19% 16% Rio Grandg Oil (2) 44% 374 Rossia Ine (2.20).. 54% 49% Royal Dutch (a3.20) 122% 96% Safeway Stores(es). 99% 96 Safeway pf (6)...... 57% 48% St Joseph Lead (13). 114% 107% St L-San Fran (8)... 95% 92 StL-San Fran pf(6). 22% Seaboard Alr Line pf 2% Sears Roebuck (32%) 2l Seneca Coppe: 7% Servel Inc. 54 Sharp & Do pf (3%).. 36% Shattuck(FG)(11%). 21 Sheil Union (1.40)... 01 Shell Un Ol pf (6%) % Shubert Theatr 65% Stmmons Co (3)... 21% Sinclair Con Oil (2). 28% Skelly O11 (2)... 23% Snider Packing pf.., 95% Solvay Am In pf 6%, 30% 24% So Por Rico Sug (2).. 64% 56% Southern Cal Ed (2). 127 119% Southern Pacific (6). 136% 129% Southern Rwy (8) 100% 98 Southern Ry pf (5 90 SouRy M &Oct (4) 33 Spalding(AG) (2) 19% Spang-Chalfant. 134 Sparks Withogtn e peanlnSoawnnpes 23% 104% 1 14% 94% 25% 82% s E32 B n®oe eh. 6 THE. EVEN Wire Direct t- ~Prev 1030.~ Prev. Low. Close. Close 5% % 6% 29% 301 Stand T 4 Sun Ol Superio! The Fal Timken 6% 11% 101 284, 39 19% 9 122% 121 v45 ULd Bis Utd Clasz Utd Cor US & F U S & F 101% 1 S Ina Lea: Lea! u u U U u u u U Util Pwi Vadsco Vick Ch Vulcan Wabash Walwor 4 Warner Warner: Warren Warren Warren W Weston Wilecox 4 Wilcox Wilson Yellow 21% 101% 10:30 A.M.. 1:30 P.M.. Dividend rates in stock. able in cash or stocl h Plus 2% in stock. § 8357 stockh: olders, NEW HIGH RECORD | IN PENNSY INCOME Railroad Makes Unusual Financial | Showing for Fourth Con- secutive Year, Last year marked the fourths sue-' cessive 12-month period in which the Pennsylvania Railroad has achieved a new high record in net income. The volume of business handled in 1929, while greater than that of 1928, was not as large as that moved in the peak years. of 1923 and 1926. The record-breaking net income earned last year was the direct result of an in- tensive program of efficiency and econ- omy in every phase of operations and the heavy expenditures made in recent years to improye and extend the com- pany’s transportation property. Dividend Payments a Record. Dividends paid during 1929 amounted to $46,835965. This was the largest yearly dividend disbursement in the company’s history, marking an increase of $8,664,343 over payments made in 1928. A total of more than $900,000,000 has been paid by the railroad in divi- dends since its inception in 1846. During 1929 the sum of $4,962,852 was applied to sinking and other re- serve funds, and $636,558 to advances to and construction expenditures upon leased and affiliated lines. The balance of the net income, amounting to $48,- 925,595, was transferred to profit and loss, bringing the total profit and loss account as of December 31, 1929, to $230,834,073. Stock Increase Approved. NEW YORK, Ferbuary 25 (/P).—Stock- holders of Commonwealth Edison Co. have approved an increase in the au- common stock from $150,000,~ 000 to $200,000,000. . TREASURY CERTIFICATES. an & Co. B o 32 fi 183 Markets at a Glanee NEW YORK, February 25 (#); Stocks irregular; Simmons at year's low. Bonds dull; general list moves narrow- | iy. Curb irregular; Deere (new stock) rallies. Foreign exchanges steady; Ital- ian lira at new 1930 high. Cotton high- er; trade buying and the rally in wheat. Sugar easy; Cuban selling.” Coffee high- er; steady Brazilian market, CHICAGO, February 25 (#).—Wheat firm; decreased world’s visible and cov- ering. Corn steady; firm cash markets, Cattle steady. Hogs lower. PARIS BOURSE PRICES. PARIS, February 25 (). —Prices were steady on the Boursé today. Three per cent rentes, 87 francs 25 centimes. Five per cent loan, 101 francs 40_centimes Exchange on London, 124 francs 2035 centimes. The dollar was quoted at 25 francs 54 centimes. Retail Store Closed. NEW YORK, February 25 (#).—The Omaha retail store of Montgomery Ward & Co., has been closed. Inadequate building faciilties with which to do bus- iness was given as the reason for closing. SHORT-TERM SECURITIES (Reported by J. & W. Seligman & Co.) Bid, Of Allis-Chalmers, 5s 1037, . & Tel. 5 Balto. & Ohio 4'as 1933. Batattan Pet, Corp. 4! Copper Co, 55 1947..... " Cudahy Packing Co. 535 1837 Edison EL 11 of Bost. 41:s 1930 Gen. Mot. Accep. Corp. 65 1937, 1 General Pet. Corp. 5s 1940. &R 55 1957, Through a chemical process, acet acid and lactic acid have been sawdust, prepared | LA = Wi Stock ana Dividend Rate. Spear & Co pf (7).... Spencer Kelg (1.60). Spicer Mfg Splegel-. Stand Brands (1%).. Stand Gas & El (3%) Stand G & E pf (4) Superior Ofl. Symington (A) Telauto Cp (11.25) Tenn Cop & Ch (1) Texas Corp (3) Tex Gulf Sul (4 Texas & Pac (5).. Tex PC&O (b10%). Texas Pac Land Tr. . Thatcher Mfg (1.60). Thompson Prod. ... Tide Water Asso 60c. Tide Water Oil pf(5) Timken Det Ax 1300 Tobaceo Product: Tobacco Products A. Transcontiriental Oil. Transue & W (1) Trico Prod (2%).. Truax Traer (1.60). . Twin City R T pf(7). Und-Ell-Fister (5).. Underw-El- Union Carbide (2.60) Union Oil of Cal (32) Union Pacific (10)... Union Tank Car..... Utd Alrerafté& Trans, Utd Afrcraft&T pt 3. in’ stock. hPlus 5% NEW YORK STOCK EXCHANGE Received by Private Sales— Prev. Add 00. High. Low. Close, Close. 508 80 & 0% May-St (3).. nvest Corp. Stand O of Cal (234). Stand Ol Exp pf (5). Stand OIl N J (12) Stand Ofl N Y (1.60). Stand Plate Glass pt Sterling Sec A..... Sterling Séc cv pf(3) Stewart-War (h313). Sgone & Webster (4), i Studebaker Co (5)... Submarine Boat. pf (6). r Steel. r (2.40) . Roller (3). 4 0 s Fuoclortbnlorrasnitar man pL(7). cult (1.60). .. Utd Carbon (. ar Store: poration. utd Corp pf (3) Utd Dyewood United Elec C Utd Gas & Im pf (5).. orelgn Secur. or See pf(6).. U S Freight (3)...... Alcohol (11). ther Au....et ther pr pf (7) Pipe & Fdry (2). Realty (5). Rubber. Rubber 1st pf. Smelt Ref ($34).. U S Steel (7). U S Steel pt ( U S Tobacco (4) Uniy Pict 1st pf Univ Pipe & Ra T&LUA (02). Sales Corp... Vanadium (14)...... emical (2%4). Virginia-Car Chem. Detinning. Wabash Waldort Systm ( th Co (2) 4 Ward Baking A, Ward Baking pt (7 Bros Pio (4). War Bros P pf (2.20) -Quinlan (2). Eros (19). Bros 1st (3). Fy&Pipe(2), Webster-Eisenlohr. . Wess Oil & Snow (2), Western Pacific pt. Western Union (8) w Westhse E&M pf (5), El Ins (1). Westvaco Chlor (2 4 White Rock M § (t4) White Sewing Mach. Uil & Gas Rieh, B (2 Willys-Over (1.20) &CoA. Woolworth (2.40) . Worthington Pump.. Wrigley Wm (4 Yale & Towne (15).., Truck & C. Young Spring (3).... Zenith Radlo..e..u.s RIGHTS EXPIRE Am R Mills. .June 15 Balto & Ohio,Mar 11 Col Carbon..Mar 11 Sales of Stocks on New York Exchange. 327,400 1.839,400 12:00 Noon, 1,079,200 2:10 P.M.. 044,300 given in the above tables are the annual cash payments based on the latest quarterly or half vearly 5 Unit of trading less than 100 shares. § Payable in scrip. { 3 no regular rate. b Payable in stock. d Payable when leclarations. t Partly extra. $ Plus 4% Plus 9% ‘in stock. a last year— . {Plus 10% in stock. Plus 8% in in & Plu stock. k Plus 3% in ock. m Plug stock. p Subject to approval of INSURANCE CONCERN REPORTS GOOD YEAR National Life—Formerly Local Bank Cashier. William C. Worthington, assoclate general manager of the Washington of- fice of the National Life Insurance Co. of Vermont, has received from the home office the detailed annual statement for the year 1929 showing sssets at market value as of December 31 of $130,552,~ 290.08, a gain of $7,936,933. The liabili- ties total $123,069,728.23, which iInclude insurance reserves of $104,346,669.72, annuity reserves of $8,930,527, policy claims estimated to exist but not re- signed for distribution to policyholders during 1930 of $4,627,954. The surplus at market value was $7,482,571.85, a gain of $715,806. New business paid for in 1929 was $74,566,223, bringing the insurance in force to $597,193,119. Mr. Worthington has just completed his sixteenth year of service with the Nation:. Life, prior to which he spent 16 years as a Washing- ton banker. It was while cashier of the Merchants & Mechanics Savings Bank that he introdyced to Washington the Christmas Savin since become such a popular banking service throughout the country. e U. S. GRAIN EXPORTS. By the Assoclated Press. Exports of grain from the United States decreased to 618,000 bushels in the week ended February 22, as com- pared with 1,971,000 in the preceding week and 2,406,000 in the correspond- ing week of last year, Exports of wheat in the past week totaled I'Iln.ggfl 1s, dian grains in transit shipped from United States tlan ports amounted to 1,172,000 bushels against 696,000 in the preceding week, Exports of American wheat flour totaled 157,000 barrels, against 152,000, transit from this country totaled 27,000 ING' STAR, WASHINGTON, D. C, TUESDAY, FEBRUARY 25, IBOND PRICES GAIN | [Coxv soc BONDS INBETTER BUYING: General Trend Irregular, but Prime Group Moves in Narrow Range. By F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK. February 25.—The bond market was somewhat more active to- day and there were a large number of gains sprinkled through the list, How- ever, the general trend was irregular. Dealers report themselves satisfied with | market conditions, especially since the market has had a respite from large blocks of new offerings. A number of recent issues were cleaned up Monday and today and there are fewer blocks in sight, so that there is now some preparation for the forthcoming Treas- ury and corporation issues, Fluctuations were small in the prime group. Buying was evident in Baltimore & Ohlo first 4s, Pensylvania 4158 Union Pacific 4s, Great Northern 7s, Standard Oll of New York 43s, Duquense Light 4lis, Columbia Gas 5s and American Telephone 5s (1965). New. York Central debenture 4s, Northern Pacific 4s, In- jland Steel 41:s, Philadelphia C and Utilities Power & Light 5 xr;»;e;. pz;l;me",} Pacific 45 a 80 were an ints hl!Jh x;flce of the y!g?. b unior railroad issues were in favor, with gains shown by St. Paul adjust- ments, Erie Refunding 5s, Missouri- Pacific 45, Wabash 415 and Cuban Rail- road 5s. Seaboard Airline 6s and Sea- board All Florida “A” 6s were weak. Hudson Coal 55 gained a point in active '!.‘mdmm Colon Ol 6s were off 2 points, Tractions were quiet. Sugar bonds were unchanged except Cuban-Dominican 7%, which rose a point. Forelgn dollar _credits moved irregu- larly. Belgian 7% were the feature, dropping off fractionally to the call price of 115 on announcement from Brussels that the government has de- cided to call the entire $32,000,000 out- standing. The bonds were due to ma- :;:;ee ‘nr:, 1119;5, Tb:t are callable at any momn. e issue price was 97, ferings of Canadian compani provinces and issues guaranteed %;ntixse' Canadian government have been nwuch in favor in this market recently. Con- sequently much interest was evident in the bidding today for $5,000,000 Nova Scotia 5 per cent debentures, due March 1, 1960. New issues offered today totaled g:no,koa&n Cgmposed of Pennsylvania e T cen certificater. pe t equipment trust NEW SECURITIES. NEW YORK, February 25 =] security offerings today rtxy:clud;@ Hew Premier Shares, Inc., 500,000 shares o par capital stock at $12.50 per share, Offered by Boenning & Co. and the'In- tegrity Trust Co., both of Philadelphia. Pennsylvania Tank Line, $900,000 5 per cent equipment trust gold certifi- cates, series “B B,” to be dated March 1, 1930, and priced upon application. ?fi:fib&i‘;&m{&& Co. of New York nkers Bond o4 ration of Sharon, Pa, elead ool BUSINESS VOLUME. By the Assoclated Press. Volume of commercial business in leading cities of the United States last week increased sharply over the totals f the preceding week, as registered by the Federal Reserve Board compilation of total bank checks drawn in those centers. Figures which follow give the aggregate of checks for the weck and corresponding periods: Week “ending Feb. 1! $15,385,445,000 Preceding week. . 11,678,330,000 Same week last year. 20,115,232,000 —_— e lWashington Stock Exchange SALES. Capital Traction Co—5 at 86%, 1 at 867, 5 at 8614, Commercial National Bank—10 at 239, 10 at 239. Riggs National Bank—2 at 526, 1 at 527. District National Securities pfd.—10 at 90, 5 at 90 Merchants’ Transfer & Storage com.— 10 at 109, AFTER CALL, - Washington Gas 6s B—$1,000 at, 106%, $500 at 10634, Washington Gas 6s “A"—$500 at 103. Mergenthaler Linotype—20 at 1085, 10 at 108%. Potomac Electric 6% pfd.—3 at 111, Washington Gas 6s “A"—$2,000 at 103, $100 at 1021, Bid and Asked Prices. BONDS. PUBLIC UTILITY. ries A. Gns 65, series B . Rwy. & Elec. ds e MISCELLANEOUS. Barver & Ross, Inc. glas L & M Gas 65, se Cham-Vanbit W. C. Worthington 16 Years With | 2;,C;,faper, M W. M Ld.’ . M. Cold Storage 5 Wash. Cons, Title 6s. mmer rict Federal-Aj merican ') Liverty . ported of $160,000 and dividends as-|Ri 210 Nationai Bank of Washington. 250 TRUST COMPANY. American Security & Trust Co. 420 Coniinental Trust 127 Merchants’ Bank. National Savings Union Trust Washington Loan’ & Trus SAVINGS BANK. Bank of Bethesda. Commercial & East ingt Club, which has | remen s . National Uhion. TITLE INSURANCE. Columbia Title. Real Estate Titl Title & Inv. Co. of Md. com MISCELLANEOUS. | & Ross, Inc., com. .. r Bhevs’ Chase Daiy »id, and Canadian wheat flour cleared in! Wash. 1530, Received by Private Wire UNITED STATES. 11.000.) . Low. Close. 25 9917 9916 9917 5 100 29 10028 100 28 641017 1015 1017 1 9920 9920 9920 41 1044 104 104 4 5 106 30 106 30 106 30 6 110 30 110 27 110 30 FOREIGN. Baies. High. Low. Close. B9% 89 89% 9614 96% 0 98% 26% 97 92U 92% 96% 96% 961% 961 81% 81% 881, 884 88 03% US4y 52... Argentine Argentine Argentine May 61. Argentine 6s Oct 59 Argentine 5%s 62.. Argentine 6s A.... Argentine 6s B Australia 6s 1957. . Austria 7 Bank of Chile Bank of Chile 6 88 103% 1 94 94 95 25 102% 102% 107 107% 110% 111 108 115 110% 75 % % 110 75 74 74 91 91 103% 103% 6% 17 6% T6% 85 85 96% 96% 101 101 100 100% 103 Bordeaux . Brazil 615 1926, . Brazil 633 1927. Brazil 7s. Brazil 8s.... Bremen State Ts. Canada 651931 Canada 5s 1963 Chile 6s 60...... Chile 65 61. Chile 75 1943 oo Chinese Gov Ry 6s. Christiania 6s..... Colombia 6s Jan 61. Con Pow Japan 7s. . Copenhagen 4 53, Copenhagen bs ct, T5% . 5% 994 99% 90% 91% 968 96% 100 100 110 110 4 109% 109% 1% 92 100% 100% 104% 104% 101% 1018 104% 104% 104 104 Danish Munie Denmark 4% Denmark 538 55 Denmark 6s. Dutch East T El Salvador 8s 48. . Flat 7s war 46. 4 Flat 7s ex war 4 Finland 634 Finland s £ 65 45 Framerican 7% French 7s French 7% German Bank 6s'3. German EI1P 6%s . German 7s. Ger Gen Elec Greek 63 1963 Hait! 3. Hungary 7% Irish Free State 5s. Italy 7s...... Italian Pub § Jananese 4s. Japanese 6148. Jugoslavia Bank 7s Karstadt 6s1943... Kreuger&To'l bs et. Lyons 6s. Mnrseille 63, Milan 614s. Montevideo 7 . Netherlands 6s 72.. New So Wales 7., New So Wales 53.. Nord 63%s. Norway 58 1963, Norway b%s. . rway 651943, Norwav s 1944. Norway 6%s 1952.. Orfent dav 634 §8.. Orient Dev'mt 65 53 Paris-Ly-Med 6s. Paris-Ly-Med 7s. Paris Orleans § Peru 63 1960. Pern s §961. Peru 7s. Plrelll 7= 52, Polund 7s (rets Poland s, Pragne 7145, Rhins Wat EP €s 52 Rio .3 Janelro 6%s Rio de Jan 83 1946, Rio Gr Do Sul §s. Rome 6%s.. Sao Pauylo 1950 Saxon (PW) 7s.... Selne 7s 42. . 106% 106% 114% 114% 120% 120% 891 894 fly 91% 107 107 102% 102% 861 86% 98 98 101% 101% 6% 96% 987 99% 95 95 961 96 4 104% 103% 8% T8% 74 74 %Y 95% 4 103% 103% 1031 103% 103% 0% 90 0% 100% 100% 100% 106 106 106 85% B5% R5M 854 8 85Y 104% 104% 104% 97a% 9TH 9T 101% 101 101 103% 103% 103 103% 103 108% 102% 1024 102% 881, 881 BRK 98% 98% 98% 1031 103% 1034 105% 105% 105% 101 101 T4 T4 744 9214 93K 110% 110% 83 83 931 93% 106% 106% a0 90y 4T 9915 100 96 96 0% 90% e 91y 987% 99 107% 108 ROY ROSG 91 o1k /74 871 1091 103 108 103% 107% 108 8% 99 8% 98Y 6% 6% 89% 89% 104 104 1061 106% /5% R Serbs Crot Slo 8., 123 Shineyetsn 6158 52. Solssons 6s. . . Swiss 514 s 1946. R|wiss Confed 8s... Toho E1 Pow fs 32, Toho El Pow 7s Toklo Toklo 5%s 1961. td Kingm 5%s 37, 21 Uruguay 8s. .. Vienna 6= 52..,. Warsaw 7s £2 7 T6% 76 TE% Yokohama 6s 4 96 95% 94 MISCELLANEOUS. Abitibl Pa&P 5s°53. 20 83% 83 83u Alleghany Cp 6s 44 76 101% 101% 101% Alleghany bs 49 44 1017% 101% 101% Allis Chalmrs 58°37 1 100% 100% 100% Am Agri Chem 7%s 3 1041 104 104 Am Beet Sugar6s3! 5 78 78 T8 Am Chain 6s33.... 1 100% 100% 100% AmChem 6% sev 49 38 1011 102 101% Am IntCor65%s49 12 94 94 Am Nat Gas 6%s 43 3% T4 Am Smit & R 101 . 101 Am Sugar Ref 6s. 1031% 103% Am T&T ev 438 39 923 149% 150% Am Tel&Teleg 5s'65138 101% 101K 101% cltrbs.. 4 103% 102% 41 101% 102 10 105% 1054 6 100% 100% 15 BB, 88y 831 K4 kil Kt 102% 102% 104 104 101 101 103 1034 104% 104% 100%-100% 56 56 9Kt 95% 80 80 100 100% R5Y 86% 92 98 61 61 105% 105% 102% 102% 100% 100% 101 101 102 102 94 94w 8% 99 80 80 80% 80 100% 100% 1025 102% 96 961 103 103 106% 106% 921 92 100% 100% 101% 101% 10%% 108% 8714 103% 103% 108 a0 98% 6% 90 104% 106% R5% Am Tel & Tel 6%.. Armour&Co 4% s 39 Armour Del 5%s. .. Atl Gulf 53 69 Bell Tel Pa 63 B. Bell Tel Pa 55 C. Bethiehm Stl pm Reth Steel rf 58 Rklyn Edison 5 Bush Term Bldg 5i Certn-Td 5%s rets. Chile Copper 6s.... Colon Of1 65 38..... Col G&F 55 May 52 Com Invest 5148 49 Com Tnvest 6548, Con Coal M4 bs. Con Gas N Y 6% Consumers Pow 68 Cuban Am Sugar 8s Den Gas 5s...... Det Edison 53 40... Dodge 6s. . . Duquesne 4148 67.. East Cuba Sug 7%8 Fisk Rub 8s. Gen Cable 5%s 47 Gen Mot Ac Cor 6s. Gen Pub Serv 515 Gen Stl Cast 5%s 4¢ Goodrich 6%s. Goodyear 5s rets. .. Humble O & R §s. Humble O & R 5%s M Bell Tel 111 Steel 4345 40. oo o) B8 menpas o5 B - 05 2 : anTRA®L wREEN Int] Match 6s 47. Int Paper bs 47. Inter Paper 6: Int Tel & Tel Int Tel&Tel 4% Tntl Tel&Tal 55 KanG & E6s 62 Laclede G 53n 52, 5 117% 117% 9614 961 105 105% 102% 103% 80% 80% 101% 101% 100% 100% 100% 101 Midvale Steel 6 Montana Pw deb Mor's & Co 1s Nat Dairy 6% P8 OB New England Tel 6a . 2 1083 103 10304 FINANCIAEL. Direct to Sales. High. ;i « 5 103% 103% 3 112% 112% 4 93% 93% 9% 107% 110% 101% 101 3 100% 101% 103% 1. N Y Tel 63 49, No Am Ed 5348 62. . Nor States Pow 5 67 Phila & Read Phillips Patro 5. Pillsbury F M 6s'43 Por Ric Am Tob 6 Postal Tel & C5%s 10 Pub Serv G 4%s'67 5 Pub Serv Gas 4148, 10 Remington A: s 2 Rem Rnd 63 war., Richfield Of Stnelair Of1 7 12 6 1 Southwest Bell Stand O1l N J 46 Stand ONI N ¥ ¢ Sug Es Orfent 78.., 10 Tenn ElecPowés 47 6 Tex Corp ev 65 1944 245 Transcontl O1l 6%s 6 United Drug 68 63.. 15 US Rub 1strt bs. .. U S Rub 734s. Utah Pow & Lt Utilities Pow 6% Vertientes Sug 7s. . Walworth 6s Walworth 6% Warner Sug s 41.. Western Elee Westn Unfon 58 61 Westn Unfon 6% White Sew Mach. .. Willys-Ov 635 33, . Wilson & Co 18t 6s. Win Repeat Ar 7%s 1 10 Youngstn S & T bs. 18 101% RAILROAD. As&ST cvt 45 05. 8 90% Atchison gen 4s.... 5 923 Atchdeb 414s43... 10 1851 AtlantleCL 1st ds. 4 91%" Balto&Ohio zold 4s. 13 921 B&Oev4ls...... 35 99% 10 102% 1 102% 1 108% 6 10914 Boston & Matne . Brooklyn Elec 634s. Rklvn Manhat 6s Ruff R & Pltts 44, Bush Term con 5s. . Can Ngt 4% " Can Nat4%s Canada Natl e Can Nor 4% s 193! Can Nor 7s... Can Pac 4% 4§. Can Pacifieetfs 6a. Cent Pac 1st 55 00, Ches & O Corpn b 102% 100 981 941 47 941g 94v; R103 102% .1 65% 66% CB&Q4%sTIR.. ChI&E T en 58 1 Chi Gt Wast 4n CM&StPGen 8., ChiM&StP4 1, 5C89. Chi MISP&Packs7S CMSP&Pac ndifs03 CHI&N conv 48 Chi & NW ref 6 Chi & NW 616 CRIRT&Prras. .. a7 75% ] R4 93 N 72 Del & Fudist rf 4s. Del & Hud 5%, Del & Hnd 78 30. Den & Rio G en Den&RG W 4% =36 DRG & Wat Ex kR, DRG & Wst 5s 7! Fast Tenn Va&GaSs Erleconvés A. 6% 89% 2 104% 104% R3% Gr Trunk st ah 6 Grand Trunk 7 Gt Nor 5s. Gt Nor &t Hav El Ry 5s 52. Hud & Man a1 5s... HUd & Man ref 5s.. 111 Cent 4% s 66. T Cent Chi 4%s... Int Rapid Trans 6s. Int Rap Tr 5a stpd. Int Rapid Trans 7s Int & G Nor adj fw.. Towa Central ref s Towa Cent 1st 5s... Kan City Ft S 4s. Kan City S 3s. Kansas City S 6s. Lake Shore 3% Lake Shore 45" Lehi Valen LehiVgen 4% 2003 Louis & Nash uni 41 L&N4%s2003.... Lowuis & Nash 63 B.. Louis & Nash 5348, Man Ry 1st 45 90, Market St 7s 4 v 76 100% 9% 99% R7% 98" 94%, i 95% % 104% 107 59% 79% oo 1 99% Minn StP & SSM 6s. MStP&SSM6%s. MEK&T4sB...... MK&TprinbsA. MK & T adj 6 . & 101% 1041% i 102% 98 105% 1067 95% 99% 106% 107% 101% 102% 1% L 6s'32 222222y 2247 % M g 1 o g z g 2 H » 4 ] Nor Pac 3s 2027 Nor Pac4s... 100% 112% 8 101 98K 98% 106% 102% 108% 100% 106 % Ogden & Lake Ch 4s Penna con 4% Penna gen 4 % Pere Mar 1st 45 56.. 96% 105% Port Bl P L 6 Port RL&P T%s Reading gen 4343 A RIArk &L 4%s Rio G Westcl 48 StL IM&S gn 6a 3 98 9% 84 103% 112% 934 99y 107% 110% 101% 101 100% 101% 1007% | would be sold at reasonable % |ical cha 10285 100 9814 944 04y 03 65% 97 5% 1 a9 /01, €81 02, 104 100% 94 06% 96K 89% 104% 31 ROV, 95% 59 104y 109% 100% 98% 99% B7% 98 4% 95% 104% 107 59% 101% 104% 102% 98 106% 107 95% 991 106% 107% 101% 102% 1% . 56 21% 88% % 65% 89 109% 112% kLB 101 98% 98% 106% 102% 108% 100% 106% 9% 9614 105% 98 98 84 o e (RTAILED RADID OUTPUT IS ASSURED Manufacturers Plan for Req striction on Marketing of New Sets. BY J, C. ROYLE. ‘Television is just around the corner but in a most expensive neighborhood, One of the representatives of a largq electrical equipment concern said yess terday that most satisfactory television sets had been built, but that the o difficuity in marketing them was thaf the manufacturers had not yet been able to supply a set that would sell far less than $1,000. But, he added, it wag merely a matter of time when sety figures, It seems likely that the next big rade in the radio industry wil) involve television. But the radio manu+ facturers are feeling much more o) mistic than two months ‘There is no doubt that the whole ine dustry has been through a hectic time, This was only in part due to the crash in the stock market. Overproduction played a full part, and the effects of the two were felt together. Members of the Radio Manufacturers' Association declare that it is only a mattet of a few weeks until the une wieldy carryover of sets from 1929, amounting o 1,500,000 or more, wil have been cleared. They will then be able to begin on 1930 production. That B gain rotch wmeieidy phoporsigin again reach unwieldy ns. The 300 manufacturers who went intq the radio business had a capacity ot about 15,000,000 sets a year, whereas the actual demand at present calls for about 3,600,000 sets. ~Hereafter pro~ duction will be held close to the actual e T hich this industry has recovery wl tl industry made in the last six weeks has given proof that radio no longer can be con- sidered in the luxury class. It may be semi-luxury, but scores of people re- i;ura it as an essential part of their ives. Holding production to consumption will be easier, since not a few wngerm in weaker financial positions wers forced out of the business by the dras- tic upheaval. Prices, which were cut by all but about 25 per cent of the pro- ducers, again have become stabilized. cut in manu« to t rid of excess stocks. careful ::nmny also is being given to applica- tions for purchasers on a time-) basis. Comprehensive plans are being worked out to further export trade. This is counted on to take many battery sets off the American market. (Copyright. 1930.) Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., February 25.— Poultry, alive, turkeys, pound, 30a38; old toms, 20a25: Spring chickens, 28a ;2; moll::rm 22a26; and thin, 25a28; process, 33a34. Vegetable Prices. Potatoes—White, 100-pound 2.25a2.90; sweet po barrel, 1. 2.75; yams, barrel, 1.75a2.50; beets, bas~ ’ek 2.00a2.25; cabbage, lettuce, crate, 2.00a3.50; kale, 75a1.25; onions, 100 pounds, 1.50a; pemr. crate, 4.00a7.00; 2.50a3.00° parsn| spinach, bushel, 75a1.00; squash, bushel, 2.50a4.00; tomatoes, crate, 2.50a5.00; turnips, hamper, 25a30; bushel, 60a75; cranberries, box, 5.50a6.50; graj it, box, 2.50a4.50; oranges, 2,10a4.75; tan- gerines, box, 1.25a3.50; strawberries, quart, 20a40. Live Stock Market. Cltfle——mx:&h. 75 head; supply light, market higher. Steers, choice to prime, none; good, u.ooan{»:; medium to good, 7.26a12.00; 10.25a11.25; plain to fair fair, .00; o , 7.00a7.50. Cows, choice to prime, none; good to choice, none; medium to good, 7.50 to 8.00; fair ta medium, 6.00a7.50; plain to fair, 5.00a6.00; common to plain, 4.00 wflelh-rs, choice to H 8.5020.00; lain to , 60a1.50. Sheep and lamb—Recel| 50 head: light supply, market hwa?uéheep, 2,00 26.50; lambs, 7.00a12.75. Calves—Receipts, 25 head; light sup- ply, market lower, Calves, 7.00a15.00. Hogs—Receipts, 400 head; I ly; market lower. Lights, 11.75a12.10; eavies, 11.50a1l’ medium, 11.75a 12.00; ‘roughs, 7.50a10.00; light pigs, 10.00a10.50; pigs, 11.20a11.40. Hay and Grain Prices. at—No. 2 red Winter, export, licky, m s . 2 domestic, rlh', new, 95; cob corn, new, 4.65a4.75. Oats—No. 2, white, domestic, spot, no quotations; No. 3, white, domestic, spot, no_quotations. Rye—Nearby, 80a85. Hay—Receipts, 70 tons; general hay market is quiet; some little hay is ar- nvlnt.l but hardly enough upon which to establish quotations by grades. Bet- ter grades of timothy and clover mixed are selling from 16.00a20.00 per ton, according to quality and cong , Te: :lpta by truck supplying most require- enf Straw—Wheat, No. 1, per ton, 9.00a 10.00; oat, No. 1, per ton, 9.00a10.00. .- METAL MARKET. NEW YORK, February 25 (#).—Cop- per quiet; electrolytic, spot and future, 18. Iron quiet, unchanged. Tin easy: spot and nearby, 38.12; future, 38.37 Lead, steady: spot, New York, 6.25; Easf St. Louis, 6.10. Zinc quiet; East St. !..c;un‘l., zponndmtm. 5.15. Antimony, les. High. Low. Close. 89% 108 l:giv: 107% 116% 116% 116% 123% 123 128 8715 8% 875 1054 108% 106% 107% 107% 107% 00% 100% 100% Sou Ry gen 4 :5 Term AssoS Li4s.. 1 Tex Ark FS6%s50 10 ‘Texas & Pacific 1st. § h B Wabash 648 75. .. West Maryland 48, West Pacific 8.,