Evening Star Newspaper, February 26, 1930, Page 13

FINANCIAL. STOCKS GO HIGHER INVIGOROUS RALLY Market Turns Upward at the Opening as Commodity Prices Advance. BY STANLEY W. PRENOSIL, Associated Press Financial Editor. NEW YORK, February 26.—A broad upward movement of prices took place in today’s stock market, with buying stimulated by the sharp recovery in wheat prices from the record lows es- tablished yesterday. Scores of stocks ‘Wwere marked up 1 to 8 points, at least ® dozen of them to new peak prices for the year. Trading showed a moderate expansion in volume, due largely to a Tevival of pool activities. Busiiess news was not entirely fa- vorablé in character. The weekly steel trade reviews reported a tapering in the demand for steel, but indicated that no sharp recession was in early prosgect. Iron Age attributed the de- cling largely to the curtailed buying in automobile steels, other producers either holding their own or increasing their output. The Iron Age composite pig iron prices reached the lowest level since 1928, Preight car loadings for the week ended February 15 were about 5,000 cars above the week before, but nearly 70,000 below the corresponding week of last year. Crude oil production took another big jump last week. Call money renewed unchanged at 415 Per cent, but the supply was plentiful, and the rate was shaded in the “out- sice market” tc 4 per cent. The time money market was quiet with rates un- changed. High-priced industrials and speclal- ties again Jed the recovery. _Vulcan inning ran up 8 points, Eastman Kodak, 7%: American Machine & Foundry and Warren Brothers, Tl; each. J. I Case, 7; Auburn Auto, 6%, and American Tobacco B, Diamond Match, Westinghouse Electric first pre- ferred and Union Pacific, 5 to 5. Among the many issues to sell 3 to 4, points higher were American Bank note, American Water Works, A. M. Byers, Columbian Carbon, Houston Oil, International Business Machines, Johns Manville, Lambert, Liggett & Myers B; New York Central, North American Co., Underwood Elliott Fisher, Vanadium Steel and Western Union. Butter—One-pound prints, 38a39; tub, 36a37; store packed, 18a: Eggs—Hennery, 2 26a27. Poultry—Turkeys, young, 32a33; old, 28a30; Spring chickens, 28a30; broilers, 32a33; Leghorns, 28; capons, 32a35; ducks, 15a18; keats, 60a65. Dressed— ‘Turkeys, young, 35a38; old, 32.35 brofl- ers, 38a40; Spring chickens, 35a36; Leg- horns, 35 clpans, 35a40; ducks, 28a30; keits, 8 Meats, o fresh Killed—Beef, 20a23; veal, 28a30; lamb, 23; pork loins, 28; fresh hams, 26; fresh shoulders, '20a23; ‘smoked hams, 28; smoked shoulders, 22; bucon, 28; lard, in bulk, 13; in pack- ges, 131 e ive stock—Calves, 8a14; lambs, 108 13, Spring lambs, 20a25. Fruit and Vegetable Review. The daily market report on fruits and vegetables, compiled by the Mar- ket News Service, Bureau of icul- tural Economics, says: Apples—Supplies mudmu demand light, market steady. Barrels, Virginia, U. 8. 215 inches up, Staymans, badly scsldhd 4.004.50. Boxfi, ‘Wash- ington, extra fancy, medium to large sizes, Delicious, 4.00a4.25; Winesaps, 3.00a3.15; mostly £3.00. Bushel bas- kets, Virginia, U. 8. No. 1, 215 inches up, Black Twigs, 1.50a1.75; Yorks, mostly 1.50; 3_inches up, Yorks, 2.00; Pennsylvania, U. 8. No. 1, 2% inches up, Yorks, 140; Blldw\n.l, 1.50; Northwestern Greenings, Cabbage—New !tbck—supplm light; demand light, market slightly wn.ker. Texas, barrel crates, round type, 5.00a 5.50; mostly 5.50; Florida, 1’7-bushel hampers, pointed type, 2.75a3.00. Celery—Supplies _moderate; demand light, market steady; Florida, 10-inch crates, 4 dozen, 2.50a2.75; 3 dozen, 2.25a2.50. Lettuce—Supplies liberal; demand light, market steady; California, crates, Iceberg type, 4-5 dozen, 3.00a3.50. Onions—supplies light; demand light, market steady; Ohio, 100-lb. sacks, yel- Jows, U. S. No. 1, medium to large size, 2.15a2.25; medium size, 2.00. Potatoes—Old stock; supplies mod. erate; demand moderate, market about steady; Maine, 150-pound sacks Green Mountains, U. S. No. 1, 4.50a4.65; 120- pound sacks Green Mountains, U. S. No. 1, 3.65; New York, 150-pound sacks Round Whites U. S. No. 1, 4.40a4.50; new stock,) no sales reported. ‘Tomatoes—Supplies moderate; de- mand light, market slightly weaker; Mexico, lug boxes, ripes and turning, ‘wrapped, mostly ripe, 5x6 to 6x6, 3.50; Florida, 6s, green, wrapped, ordinary ‘quality and condition, choice count and gems (small size), few sales, 1.5082.00. String beans—Supplies very light; de- mand light, market steady; few sales; Florida, bushel hampers, green, fair quality, 4.0024.50. Cucumbers—Supplies moderate; de- mand light, market about steady; Illi- nois and Indiana, 2 dozen cartons hot house, extra fancy, 3.00; fancy, 2.75; No. 1, 2.50; showing decay, 2.00. Peppers—Supplies _ light; demand light, market steady; few sales; Florida, pepper crates, choice, 3.50a4.00, Peas—Supplies moderate; 3 arrent recelpts, pound crates, best, 4.75a5. ity, 4.50. Carrots—Supplies moderate; demand light, market dull; Texas, bushel bas- kets, bunched, clipt tops, 3.2582.50; few low as 2.00; Western lettuce crates, bunched, 2.50a3.00, Beets—Supplies moderate; demand light, market dull; Texas, Western let- tuce crates, bunched, 3.503.75; bushel baskets, bunched, clipped tops, 2.50a3.00. Strawberries — Supplies light: de- mand light, market steady; Florida, pony refrigerators, various varieties, 40a 45; 32-quart crates, various varieties, some poor condition, wide range in prices, 10 to 30 per quart. Cauliflower—Supplies light; demand light, market about steady; California, 1.65a1.75; few higher; 75a1.00. liberal; demand : Texas, bushel bas- savoy type, 75a1.00;" South Caro- standard barrels, savoy type, 2.00a2.50. Oranges—Supplies demand moderate, market about steady; Florida, boxes, No. 1, medium size, 4.50a4.75 few fine quality pineapples 5.0085.25 large size discounted 50a75 per box. i fair qual- liberal; Grapefruit—Supplies moderate; de- mand moderate, market steady; Flo ida, boxes, No. 2, medium size, 4.00; large size discounted 50a75 per box. BANK CLEARINGS. NEW YORK, February 26 (Special) York bank clearings today, a year ago, $1,700,- 000. New York bank balances $156,000,000; & year ago, $182,000,- New Yorx Federal Reserve credit ices today, $128,000,000; & year ago, 00. Eskimos Fly High. OTTAWA, February 26 ().—High- fiying Eskimos are deseribed in the an- nual report of the Royal Canadian Mounted Police. Punch Dickins, avia- tor, gave them rides at Aklayik for $10 each agd customers were still in sigat When &ls gas gave out, Nflle.—All stocks ll' sold in one-] excepting which ll:m ‘IIM stocks to be ~Prev. 1930.~ High 83% 8 84% 23% % 133% 82 2% 118% AmBrS&F pf (7).. THE EVENING STAR, WASHINGTON, D. C, NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. hundred share lots .] the Ifller s (65s) sold in odd lots only. !-lu-ll:uhlmkmufl 0 P.M. Stock and low. Dividend Rate, mumm Low. Close. clou. 22 Abitibl Power&Pap. 6 29% 29 2 64% Abitibi P & P pt ( 234 Adams Expr (1. 11% Advance Rumley. % Ahumada Lead. . 118 Alr Reduction (3, 21 Alr Way El Ap(3%). 1% Ajax Rubber.... 7% Alaska Juneau. 23 Alleghany Corp 255% Allied Ch & Dye(n6). 494 Allis-Chalmers ( 2814 Alpha Port Cemt W), 18 Amerada Corp (2)..e 6% Am Agricul Chem. 26 Am Argicul Ch pf. 77 Am Bank Note (13). 29 61 Am Bank Note pt mno. 40% Am Bosch Magneto, . 46% Am Brake Shoe(2.40) 108 &% Am Brown Bov Elee. 60' Am Brown B E pf(7) 117% AmCan (4)ccee.ns 110 AmCar&F pf (1)... 36% Am Chicle Co (13%). 26% Am Com Alco(n1.60) 23% Am Encaustic (2)... 35 Am European Seo. 88% Am & For Power. 107 Am&Forn Pwr p£(1). 95% Am&Forn Pwr 2d pt. 19% Am Hawatlan S 8 (3) 55% Am Home Prod(4.20) 35% Am Ice Co (t4) ) 94% Am Locomotive (8) ., 210 Am Mach & Fdy (7) 44 Am Metal 3) % Am Piano. . 77 Am Power & 1), 4 100 Am Pow & Lt pt (6). 31% 195% 9 2% 75 AmP&LDPIA(3%) 80 Am P&L pf A st (5). 30% Am Ra&Std San1%.. 20% Am Republics. . 8014 Am Rolling Mill @y, h 1 99% Am Water W llt(l)- 7% Am Woolen 19% Am Woolen pf. 5 Am Writ Paper ctfs 29% Am Writ Paper pf (3 83 Am Zinc Ld & Sm... 35 Anchor Cap (2.40)..3 23% Archer-Dan-M (3) 5% Armour I11 (A) 2% Armour Ill (B) 59 AUG&WLDE (4)eu 374 Atl Refining (12) ... 175'3 Auburn Auto (36)..w 3% Austin Nichols. * 24 Austin Nichols pf. 4% Autosales..... 15 Autosoles Corp pf. 37 Auto-StSafRA (3). 4% Aviation Corp Del. 30% Baldwin,Loco (1.75). 111 Baldwin Loeo pf (7). 115 Baltimore & Ohio (1) 78% Balto & Ohio pt (4).. 107 Bamberger pf (634). 63 Bang & Aroos (3%).. Bang & Aroos pf (7). 10. 16% Barker Bros(2) 20% Barnsdall. A (2). 67% Beatrice Cream (4) 60% Beech-Nut Pkg(2). 122% Bethlenem St pf (7). 47% Bohn Al & Brass (3) ) Bkiyn Union Gas (5). 13% Bruns-Balk-Col. 14% Bruns Ter & Ry S. 224 Bucyrus Erte (1) 814 Budd Wheel (1). 29% Bullard Co (1.60) 26% Bulova Watch (3. 43% Burr Add Mach (1) 36 Bush Termnl (2%) 100% Bush Term deb (7) 109% Bush T Bldg pf (7).. 3 Butte Copper & Zinc. 4% Butte & Superior (2) 16% Butterick COuevesese 80% Byers (A M). . 66% Calif Packing (6)..w 1 Callahan Zinc & 74% Calumet & Ariz (6).. 29 Calumet&Hec(ad%). 27 Cannon Mills (2.80) ., 31 Capital Adm A p£(3). 1924 Case (J 1) (6)..euens 54 Caterpillr Trac 13% 614 Cavanagh-Dobbs. 354 Celotex (3).. 71 Celotex pt (7). 23% Cent Aguirre As1%. 31% Cent Alloy ctfs (2).. 105% Cent Alloy St p£(7) e 3% Century Rib Mills. .. 591 Cerro de Pasco (6) 11 Certain-teed Prod. 36 Checker Cab (4.20) 4% Chi & Alton...., 5% Chi& Alton pt.. 36 Chi& East 11l pt 12% Chi Great Western, 23 ChiMill St P&Pac. .. 40% Chi Mill St P&Pac pt ¥4 Chicago& N W (6).. 22% Chi Pneu Tool. . 51% ChiPneuT pf (3% ). 114 ChiR1&Pac(1),... 107 ChiR I & Pacpt (7). 26% Chl Yellow Cab(3).. 33% Chrysler Corp (3)... 40 City Ice & F (k3.60).. 8%, City Stores (1).....0 33 Clark Equipment (3) 30 Cluett Peabody (5).. 133% Coca-Cola (6). . 14% Collins & Alkman. 6% Col Fuel & lron (2).. 70% Col Gas & El (2).. 104% Col Gas & K1 pt A(6) 24% Columb Graph (¥7c). 168t Columblan Carb (16) 23% Com Credit (2)...ee 31%-Comm Credit A (3).. Com Cred pf B (2) Com Crd 15t pf (6% ) Coml inv Tr (g1.60). Com Inv Trst war... 4 Comm Solvents (11). 22 Comwlith&Sou(60C) .. Comm & Sou pf (6).. Conde Nast Pub (2).. Congoleum-Nairn. .. Congress Cgr (16%). Conley Tinfoll sta. Consol Cigar (1) Consol Film (2) Consol Film pt % Consol Gas N ¥ (4. Consol Gas NY pf Consol Textile. Container Cor A 1. Container Corp B. Contl Baking A. Contl Baking B. Contl Baking pf (8). Contl Can (2%).. Y RRNRARSE AN 351 4l 25 117% 117'1 101 1% 21% T 4 Corn Prod (13%).... Corn Prod pf (7). Coty, Ing (k2) Crosley Radlo Crown Cork & Seal. Crown W P 1st pf(7) 10; Crown Zellerbach (1) Cuba Co % Cuban-A: lu Cuban Dom gar ldl“. 141'& 284, 17 49% 95 17% 13% ~Prev. 1930.—~ (283s), | & 116% 114% 11% 17% T 40 127% 6% 13% 64 28% Stock ana Dividend Rate. Cudahy Packing (4). Curtis Publish p£(7), Curtiss Wright Corp. Curt Wright Corp A.. Cutler-Hammer..... Davison Chem. . Deere & Co pt (T)... Devoe & R, A (2.40) .. Diamond Match (8). Drug Corpn (4)..... Dunhill Inter (34).. Duplan Silk pf (8). .. Du Pont de N (14.70) Duporit d N deb (6)., Estn Roll Mill(ht2).. EBastman Kodax (18) Eaton Axle & S (3).. Elec Auto Lite (6) ElPwr& Lt (1). El Pwr & Lt pf (1) 4 EP&LDS 60% pd 4.20 Elec Storage Bat (5). Elk Horn Coal. Elk Horn Coal . ' Eng Pub Serv ltl).. Eng Pub Sve pf (53%) ErieRR. o Erle R R 18t pf (4) . Evans Auto L(32%). Exchange Buf (1%). Fairbanks Co pf..... Fairbanks Morse (3), Fash Park Asso (2% Fed M&SpL (1)...u Fed Motor Tr (80c) Fed Wa Ser A e2.4 Federated Dept Str: Firestone T&R(1.60 Firestone T&R pf(6) First Nat Strs (2%). Fisk Rubbe; . Fisk Rubber 1st pf. . Florsheim Shoe pf 6., Follansbee Bros (3).. Foundation Co. . Fox Film A (§4).. Freeport, Texas (15) Fuller pr pf (17.94) .. Gabriel Snub A....u Gardner Motor. .. Gen Amer Investo Gen Am Inv ptf (6)... Gen Am Tnk Car(34) Gen Asphalt (4)..ee Cab! Gen Cable A (4) Gen Cigar (4). Gen Electric (1.60). Gen Elec spec (60¢).. Gen'l Food Corpn (3) Gen Ry Sig pf (6) Gen Refrac (14%)... Gen Theat Equip vts Gillette Sat naz(ns) o Goodrich B F (4).eas Goodyear Tire (5) Goodyear 1st pf (7)., Gotham Silk H (2%) Gould Coupler. Graham-Paige Grand Stor pf (6%) % Grand Union... Grand Union pt (3) % Grant (W T) (1). o GtNctfsOP (a3%). Grt West Sug (2.80). Grt West Sug pf (7) Grigsby Grunow (2), Gulf Mo & North.... Gulf Sta Steel (4).vu Hahn Dept Stor Hahn Dept S pf(6%): Hall (WF) Ptg (mn1) Hanna pf (new) (7)., Hanna (M A) 1st (7) Hartman Corp B 1.20 Hayes Body....uusue Helme (Geo H) (17). Hershey Choe (5).... Hershey Choc p£(5) Hoe (R) &COueuvvr Holland Fur (e12%). Hollander & Son. Houdallle Her B ( Household Prod(14). Houston Ofl Howe Sound Hudson Manh pf(5) Hudson Motor (5) Hupp Motor (£2). 4 Independ O11 & G (3) 4 = Ingersoll Rand (4, Inspiratiom (4) Insurance S| Interboro Rap Tran. Interlake Iron (1).., Intl Agricultural. ... Intl Bus Mach (n6) .. Intl Cement (4)..eu Int Combustion. Inter Comb Eng pf. . Intl Harvester (23%4) 4 Intl Harv pf (7)..... Int Hydro E1 A (e2). Intl Match pt (4)...% Int Nickel of Can (1) Intl Pap & P A(2.40). Intl Pap & Pwr B. Intl Pap & Pwr C. Int Pap & Pwr pf Intl Printing Ink (3) Intl Print Ink pt (6). Int Salt (6).. Int] Silver (18). Intl Silver pf (7). Int Tel & Teleg (2) Inter Dept St (2). Intertype Corp (2).. Investors Equity (2), Johns-Manville (3) Jones & Laugh pf( Jordan Motor Car Kayser Jullus (4) Kelly-Spring Tire. ., Kelly Spring 8% pt. sey Hayes (2) 4 Kelvinator Corp Kennecott (5). Kinney (G R) pf (8). Kolster Radio. Kraft PhCh (14). Kresge(SS)Co(1.60). Kresge SS pf (7). Kreuger&Toll (1.34), Kroger Gr&Bak(nl). Lambert Co (8) Lee Rubber & Tir Lehigh Valley (14%) Lehigh Valley Coal.. Leh Val Coal pf (3).. Lehn & Fink (3)..... Libbey Owens (1). Liggett & Myers({5) Liggett&Myrs B(15) Liggett & My pf (7 Lima Locomotive Liquid Carbonie (4).. Loew's, Ine (3). . s Loew’s, Inc pf (6% Lorlllard (P) Co. LouG&EIA (1% Louts & Nash (7) Louisiana Ofl Ludlum St Ludlum Stl pf (6% McKeespt T P(14%). McKesson & Rob (2) McKes & Rb pf(3%). Mack Trucks (6). MeLellan Store: o Madison Sq G (1%). Magma Copper (5) Manati Sugar pf. Man Elec Supply Man Klev mod (d5).. Man Shirt (2)... Maracaibo Ofl Exp. Marlin-Rockwl t4% Marmon Motor (2).. Mathieson Alkill (2) May Dept Strs (n2) Maytag Co (12) Maytag Co pf ( Melville Shoe (2).... Mengel Company (2 Mexican Seaboard. Miami Copper (4). Michigan Steel (234). 4 Mid-Continent P (2), 1 Middle States Ofl et. Midland Steel Prod Miller Rubber.. . Minn Moline Pwr. Sales— Add 00. High. 1 g 10 2ous 9 19 » 8 1 1 00 68 0 b Y e Low. 45% 116% 10% 16% 74 3T 123% Prev. Close. Close. 45% 116% 10% COMMODITY PRICES DECLINE SHARPLY Commodity prices decllned 1 per cent during the week ended February 22, according to the wholesale price index of the National Fertilizer Asso- clation. This is the largest decline in the history of this broad and stable index, and the average is now 6.2 per cent lower than fer the like period a year. ago. Eight groups declined, and none ad- vanced. Forty-one items declined, and 12 advanced. " The largest declines were 2.5 per cent for the fuel group, 2.2 per cent for fats, 1.7 for grains, feeds and live stock, 0.9 for other foods, and 0.8 per cent for texiles. The general price level in England is also some 7 per cent lower than a year ago and that in France 11 per cent lower, Based on 1926-1928 as 100 and on 474 quotations, the index for the week ended February 22 stood at 92.3; for that ended February 15, 93.3, and for that ended February 8, 93.2. n ‘The January net operating income of the Pennsylvania Raflroad totaled $5.996,615, & decrease of about $1,920,~ 000 from the corresponding month last yeal THE DAY Efficient. Mortgage Loan 1321 Connecticut Ave. N. Our Rental Department is Most Complete and We offer co-operation at all times in the solution of Ownership Problems, sych as refinancing your mortgage, repairs, insurance, etc. RANDALL H. HAGNER & COMPANY, New York Life Insurance Company WEDNESDAY, FEBRUARY 26, 198. First Mortgage Loans ‘ Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. Real Estate Investments JAMES Y, PENNEBAKER Nat.5201 1520K St.N.W. First Trust Money Available JAMES F. SHEA 643 Louisiana Ave. N.W. We Solicit the Rental Management of Your Property Whether Apartment, Residence or Business Prompt Collections RENTS REMITTED RECEIVED Correspondent Phone Decatur 3600 Southern We take pleasure in announcing the appointment of CISSEL & COMPANY WASHINGTON, D. C. as authorized distributors for BOND AND SHARE UNITS OF Industrial Credit Corp. of America FELIX AUERBACH Co. New York City . Building FIRST our 6%2% Over a Third of a Century Without a 102% Loss 106% 6TH 31% 25% 26% 132y ll*)h National 2100 THERE FOUR REASONS Why you should invest in 1. Safety—of, both principal and interest., 2. A6%% yield. Very attrac- tive for this type of security. 3. Immediate interest—start- ing the day you invest. mailed period. 4. Adaptability. may be made in any amount from $250 up. B. F. SAUL CO. IS NO SUBSTITUTE FOR SAFETY MORTGAGES FIRST MORTGAGES Check every semi - annual Investment 925 15th St. N.\W. sl Long Term WEER 809 15th St. N.W. Mortgage Loan Metropolitan Life Insurance Company REAL ESTATE LOANS AVAILABLE Low Interest Rates Consult Metropolitan Life Insurance Company ’ro?&%o District 9486 Corrgspondens 3, 5 or 10 Year Loans On Improved Real Estate IN Nearby Montgomery County and the District of Columbia Low Rates PLETELS Founded 1907 Loan Correspondent John Hancock Mutual Life Insurance Co. 1417 K St. National 9300 Equitable Co-operative Bldg. Ass'n Organized 1879 JOHN JOY EDSON, President Assets . $5,662,549.55 50th YEAR COMPLETED WALTER S. PRATT, Jr., Secretary Surplus & Profits......$1,705130.78 Subscription for the 98th Issue of Stock Being Received 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. 915 F St. N.W. Pe’. Sh are S0 AFIRST MORTGAGE- First Mortgage Notes cipal. 6"2% 1435 K St. A First Mortgage Note pays a higher rate of interest than any other SAFE in« vestment, If you are tempted to reach for a higher yield be warned of the corre- sponding risk ingthe possible loss of prin W. M. Moses & Sons Public Confidence Since 1861 F Street at Eleventh Last Three Days of the February Furniture Sale 9 AM. to 6 P.M. All Office Furniture Greatly Reduced FLAT TOP DESKS, now $18 to $200. larly $25 to $235. Regu- Commercial and executive desks, single and double pedestal styles, from 36x24 to 66x34-inch tops; oak, mahogany and walnut. TYPEWRITER DESKS, now $35 to $67. Regularly $45 to $80. Single and double pedes- tal drop-head desks, sizes 42x32 and 55x32, Right and left pedestal style, size 60x34. Oak, mahogany and walnut finishes, TABLES, $17 to $35, From 40x30 to 72x34-inch sizes. any and walnut finishes, ROLL TOP DESKS, $34 to $85. 40x30 to 60x34 inch sizes. and walnut finishes. OFFICE CHAIRS, $1.15 to $30. Regularly $20 to $45. Oak, mahog- Regularly $44 to $112. Single and double pedestal d Sy Oak, mahogany Regularly $1.35 to $40. Regular office chairs; also bent- wood and folding chairs; oak, mahogany and walnut finishes, OMes Furniture Section—Tourth Floor