Evening Star Newspaper, February 27, 1930, Page 12

A—]2 *%% FIN MIAMI 15 GROWING INTOURIST TRADE City Entertains More Winter Visitors This Year Than in 1929. BY JOHN F. SINCLAIR. Bpecial Dispatch to The Star. ! MIAMI, Fla., February 27.—With her | own population not over 150,000, Miami is entertaining another 150,000 Winter | visitors. Her streets are crowded even | in midday, when it is customary to seek the shade. Gay, bright colors are everywhere, While thousands are here just for the { fight tonight, the vast majority have | been here for several months and will | be for another 30 days. The weather is | perfect. | “We have possibly 25000 to 30,000 more visitors in the Miami district this year than we had last vear” said Mayor C. H. Reeder to me while waiting at the station to greet Gov. Louis L. Emmerson of Illinois, “Miami Beach | never entertained so many people. More | than 100 new homes, costing $25,000 to $500,000 each, have been erecefed on the beach during the last 12 months. | Not since the hectic days of the boom have, we had so many people with us @s we have right now. Roddy Burdine, department store owier,.of Miami, who recently opened one of the finest branch stores in the United States in the Miramar section, is not worrying about Miami becoming | an industrial center. He believes that | the tourist trade will continue to grow and be the base upon which a sub- stantial industry in this section can be | built. ! «The alrcraft industry, in which from | 500 to 1,000 men are now employed, is really a tourist offshoot. Were it not for tourists it would be a small enter- prise. But this industry is growing and will ‘continue to do so as our trade with Central and South America expands.” “Are tourists spending as much money this year as formerly?” I asked. “Probably as much money will be left this year as las{. But the amount of money being left by each individual is approximately a third less than last year. Our three stores show that it takes three sales this year to equal what two sales totaled last year. Today people are living on their incomes, not on their prospects. “Our top prices for dresses last year was $850. We sold all we had. This year our top price is $400. That gives i':)l‘l a good idea of what the situation ‘Miami is fast becoming a style center. ‘What is worn in the Winter season here is accepted by those who set the styles in the North for the following Summer. In time Miami may be a real rival in| style setting to Paris and New York. Mr. Burdine explained this in this way: “Our styles are more and more be- coming the vogue in the North six| months later. Ameos Parrish and others are doing a big work in this field. Along this line there is a substantial future for us.” . It was Amos Parrish who wrote one of the most effective short statements ever penned upon the subject of good will. Here it is: “The most precious thing any one (man or store), anybody or anything can have is the good will of others: it is something as fragile as an orchid, and just as beautiful and precious as a gold nugget and as hard to find: as powerful as a great turbine and as hard to build; as wonderful as youth and as “statement hangs in Mr. rivate office. It hangs also ices of hundreds of other merchandise leaders throughout the Nation. Bank Policy. ‘The First National Bank of Miami in the boom days had $75,000,000 in de- its. Then some men seeking credit mnd it_impossible to borrow on real estate collateral. But banks must be in shape at all times to pay depositors ‘money when they want it. So this bank kept Tis funds: I cash and Government. bonds, and on call in New York today it has ut $19,000,000 on deposit, al- though at one time it went down to $15,000,000. “Yes, we had $75,000,000 on deposit at one time, and we have about $19.- 000,000 now. But we are more liquid than we were when we had the larger amount,” said E. C. Romfh, president, in discussing banking conditions in this n. “The first job of a banker is to pro- tect depositors money—hard pressed rospective borrowers often object to e implications of such a_policy.” Discussing general banking condi- tions, this Miami banker made this statement: “When 5,000 banks closed their doors within 10 years in the United States something must be wrong with the sys- tem. Not all those bankers were in- competent, or dishonest, or both. Some were good bankers. Sc what is the trouble? “I believe it lies basically in a faulty ‘bookkeeping and auditing system. Banks, both city and country, have been for a lomime handling our various services, without cost, providing only a customer has a small deposit in the bank. “But why should a bank do this any more than any other business? You come in and ask me today for a hun- dred dollars and you give me your check on New York. I give you $100 cash, but your check I do not get cashed for four or five days. Why shouldn’t you pay the interest invoived on that item dur- ing that perfod and also the cost of handling that item on our books? Par Collections. “When the par collection of checks Wwas inaugurated by the Federal Re- serve the back log of the country bank was taken away. The country banker, who had made a considerable part of his overhead in this manner, found this means of revenue gone. What did he do? “What would you do? “He increased his local loans in order to bring in larger revenue so as to make more money. “Then when times got hard in his Jocal community and depositors wanted their money he often found himself unable to accommodate -them, because his local loans could not be turned into cash and his bank closed up. I don't think enough attention has been paid to this problem of giving the banker, especially the country banker, compen- sation for this definite service.” " that point specific, Mr. I said. we put in a service charge ot 81 a month on all accounts which didn't average over $100 a month .in order to make up for the exchange loss, but in checking our books we found that many of the smaller accounts made us do the most work. We were doing all of their bookkepping for them and it was costing us more than $1 a month in_most cases. So what did we do? “We raised the service charge to $2 a2 month on all accounts under $300. ‘Yes, we lost a lot of small accounts— probably $250,000 altogether—but our work was so lightened that we were able to carry on with half the force that we had before. “Let the country banker stiffen up. Let him analyze his different activities and find out in which ones he is losing money. Then let him have courage enough to put on charges so that he will not be forced to overload on high- interest-bearing local loans, which in times of stress and depression always embarrass and oftentimes break both him and the bank.” (Copyffght, 1030, by North American News- paper Alliance.) SILVER QUOTATIONS NEW YORK. February 27 <ilver, 42%; Mexican dollars, £1's. ANCIAL. NEW YORK STOCK EXCHANGE . (Continued From Page Stock and Sales— Dividend Rate. 85% Loew's, Inc pf (6%4). 3% Loft, Ine... . 50' Loose-Wiies (2.60).. 16'¢ Lorillard (P) Co.... ~Prev. 1930.— High. Low. 93 6% 6414 26% 916 32% Ludlum Steel (2) 90 Ludlum Stl pf (6%). 35 McGraw-Hill (2). 14% McIntyre Pore M(1). 61 McKeespt T P(4%). 31% McKesson & Rob (2) 44% McKes & Rb pf(33%) 14 McLellan Stores. 84X 70 Mack Trucks (6).... 159% 137% Macy(RH) & Co(n2) 12 Madlison Sa G (1%). 5 Manati Sugar. Manati Sugar pf.... % Man Elec Supply. ... 4 Man Elev mod (d5). . « Manhat Elev gtd (7). s Man Shirt (2 i 4 Maracatbo Ofl Exp. . 29% Marlin-Rockwl 14 % . 3 Martin-Parry....... 371 Mathieson Alkili (2) 49 May Dept Strs (ni).. 16% Maytag Co (12)..... 29% Maytag Co pf (3).e.u 26% Melville Shoe (2).... 15 Mengel Company (2) 83 Mengel Co pf (7). 4 16% Mexican Seaboard. % Miami Copper (4) Michigan Steel (23%). : Mid-Continent P (3). Middle States Ofl ct.. Midland Steel Prod. . 43 3% Miller Rubber. . 103 Mil El R&L pt (6) % 1244 Minn Moline Pwr. 72 Minn Moline pr 6%.. 30 MStP&SSM. 2 2! 3 210 Missourl Pac pt (5) 81'¢ Mohawk C Mllls (3).. 49 Monsanto Ch (81%). 88% Montgomry Wrd (8) 8% Moon Motors. . 1% Mother Lode (40¢).. 12% Mullins Mfg. 18 MurrayCor( 5 35% Myer(FE)& Bro (2). 71 Nat Bisn (p2.80). 5 142% Natl Biscuit pf (7 i % at Cash Reg,A(14). 454 Nat Dairy (32) 20 Natl Dept Stores. ... 88 Natl Dept St 1st (7). 29 Nat Distillers (2)... 7% Natl Enameling (2) 137 National Lead (8).. 134 NatlLead pf A (T).. 82 NatlSupply pt (7)... 70% Natl Surety (5). 35% Nat Tea Co (2) 43 Neisner Bros (1.60). 27% Nevada Copper (3).. 40 Newton Steel (3). 180 N Y & Harlem (5) 3 N Y Central (8). 108% NY NH & Hart (6) NYNH&Hpf (7). 13% N Y Ont & West. 2 NY Railways pf.... 111% N Y Steam 1st pf (7) 226 Norfolk&Westn(10). zs% North Am(b10%stk) 1 - e St Ol mr e ST S A AR RS - & % Norwalk Tire & Rb. 9% Ofl Well Supply..... 3% Oliver Farm Kquip. ., 2% Omnibus Corp. 30l Otis Stee) (234). 52% Owens 11l Glass(nd) 52% Pacific Gas & E (2).. 72 Pacific Lighting (3). 1 Pacific Oll stubs. .... 15% Packard Motor (1).. 51% Pan-Am Petroleum., 50% Pan-Am P 44 Panhandle P & R. 47% Panhandle P & R pf.. 48% Paramount-F-L (4). 17% Parmelee Trans 134.. 2% Pathe Exchange, 5 Pathe Exchange A. 6% Peerless Motor Car. 63% Penney (JC) (2%)... 26 Penick & Ford (1)... 30’% Penn Dixie Cemt pf., 72% Pennsylvania RR(4). 94% Peré Marq pr pt (5) 38% Phelps Dodge (3). 11% Phila& Read C& 1. 48 PhilaCo 5% pf(23%) 50% Phila Co 6% pf (3).. 814 Phillp Morris (1). 29% Phillips Petrm (n2). 71 Pierce-Arrow pt (6). 1 PlerceOil...... 2% Plerce Petroleum. 34 Plllsbury Fiour (2) 45 Pirelll Co A (2.88) 100 Pitts Steel pf (7). 15% Pitts Terminal Coal. 20} Pittston Company. ., 27% Poor & Co (B) (2)... 59% P Rican Am To (A)7 12 P Rican Am To (B).. 46 Prairie Oil & Gas(2). 57 Prairie Pipe L (15). 7 Pressed Steel Car 52 e 4« 81% Public Serv, NJ 3.40. 126% 121 Tub Sve NJ pf (1) ¥9% 81% Pullman Corp (4) 24% 21% PureOll (1%).. 113% 112% Pure O1l pf (8)...... 88% 77 Purity Bakeries (4). 47% 34% Radio Corp. 73% 68 Radio pf B (5). 19 Radio-Keith-Orph A, 33'% Rand Mines (3.04).., 33 Raybestos Man 2.60. 47% Reading 2d pf (2)... 44% Real Silk (5). 3% Reis (R) & Co 30 Reis (Robt) & Co pf. 25% Rem Rand (1.60). 92 Reming-Rnd 1st (7 10% Reo Motor Car (.80).,. 72% Repub Ir & Steel (4) 107 Rep Ir & Stl pt (1) 23 Rever Cop & Bras: Reynolds Spring. 55% 49% Reynolds Tob B (3)., 26'4 22% Richfield Oil (2).... Recelved by Private Wire Direct t- Prov. Add 00. High. Low. Close. Close. 11.) ~Prev. 1030.~ High. Low. 16% 374 St Rossia I 100 Royal Di 4% 100 4% 614 6174 24% 24% 43% 43% 8l 8% 42% 3 100 5 Schulte 42 93 2 Sateway Stores(es). St L-San Fran pf(6). The Star Office. es— Dividend Rate. Add 00. High. Low. Rio Grande O1l (2) 10 ne (2.20) 18 utch (23.20). 1 11 3 1 19% Retall Strs Seaboard Air Lin¢ Seagrave (e1.20). Sears Roebuck (32 % Second Natl Inv Shell Unlon (1.40). Shell Un Oll pf (5% Shubert Theatres. Stmmons Co (£3) Simms Pet (1.60). . Sinclair Skelly O 14744 1527% 134 134 5 Con Oil (2) 1l (2).... Snider Packing pf... So Por Rico Sug (2).. 4 Southern Cal Ed (2). Southern Pacific (6). Southern Rwy (8). Southern Ry pf (5) Spalding(AG) (2)... 49% ‘4 42 55 184 33 34 29 39 20% 20% 891 89y 50% 1 4215 5614 201 4 Spencer Spang-Chalfant. . Spang-Chalfnt pf (6, Sparks Withngtn(1). Spear & Co pf (7).... Kelg (1.60). Spicer MIg...ouuarn Splegel-May-St (3).. Stand Brands (133). Stand Com Tob (1). Stand Gas & El (3% Stand O Stand Of Stand Of; Stand Of] Stand Pl Stand Pl of Cal (2%3). 1 Exp pf (5). INJ (12)... IN Y (1.60). ate Glass. .. ate Glass pf. Stanley Co of Amer Sterling Sterling Sterlfng Stewart- Sun Oil ( 140 Superior #11e 531 a4y 12 1140% Supertor 440 The Fair Timken % Tobacco Transue ‘Truscon Twin Cit; Union O} Utd Afre; Utd Biscs Utd Gas United S Virginia Wabash Waldorf Warner- West Pe Western Western 4 Western Western Westing| Westing 504 100% 100% 10 Wilcox I Worthini Young S Balto & 10:30 A.M.. 1:30 P.M.. in stock. § Payable in no regular rate. b Pa able Plus 2% in stock. in’ stock. br stockholders, Una-Ell-Fisher (5).. Union Carbide (2.60) Union Pacific (10)... Union Pacific pf (4) Union Tank Car. . Utd Alreraft& Tran: Vulcan Detinning, Vulcan Detin A. Walworth Co (2). Ward Baking A, Ward Baking B..... 1 Warner Bros Ple (1), War Bros P pf (2.20) Warren Bros (19) Webster-Lisenlohr. Wess Oll & Snow (2), Wess O & Sn pf (4).. West Penn £l pf (6). West Penn £l pt (7). Westn Dairy (B). . Col Carbon..Mar 1, le. in cash or stock. SeoA...... Sec pf(1.20) Sec v pt(3) War (h3% ). Stone & Webster (4). Studebaker Co (5). 1) o1l + Sun Ol pf (6) Steel Symington. Telauto Cp (11.25). 4 Texas Corp (3). Tex Gulf Sul (4), TexPC&O (b10% ). Texas Pac Land Tr. . Thatcher Mfg (1.60). (2.40). Third Avenue. 4 Thompsn Prod( ‘Thomp-Star pf (3%) Tide Water Asso 6uc. Det Ax 1300 Timken Roller (3)... Products A. Transcontinental Ofl. & W (1), Trico Prod (2% Stl (g1 y RT pt(7). 708 48 % 124% 2 90t 91 1of Cal (32) 427 raft&T pt 3., uit (1.60) & Imp(1.20) & Im pf (5).. tores A U 8 Distributing. U 8 & Foreign Secur. U 8 Frelght (3) U S Ind Alcohol (17). Util Pwr&Lt A (e2), Vadsco Sales Corp. Vanadium (14).. Vick Chemical (2%). Virginia-Car Chem. . 19 1 -Car 6% pf. 1 1605 1008 Sysim (1%) 13 22 108 723 14 Quinlan (2). 10 308 208 508 3 on Pw pf(6) Marylang Pacific Facific Union (8). hse A B (2).. hse E&M (5) 229 Westhse E&M pf (6) 240s Weston El ins (1), 3 White Eagle White Motors (2). ... White Rock M 8§ (14) i1 (2) Rich, B (2).., Willys-Over (1.20). Willys-Over pf (7) Woolworth (2.40)... gton Pump. Worth Pump A (1) Worth Pump B (6 Yale & Towne (15) Yellow Truck & C, vring (3) Young Sheet & T (6). % Zenith Radio........ RIGHTS EXPIRE Am R Mills. .June 16 Ohio. Mar 11 » i 3 14 ‘eb 28 97 ) 16% 1 W 4% 15k Sales of Stocks on New York Excl 529,300 42:00 Noon......1,568,600 2:10 P.M....... 2,607,900 Dividend rates as given in the above tables Payments based on the latest aunrterly of hall yearly amoid Cad 3 Unit of trading less than 100 shayes. ations. scrip. us 5" 30% fn' stock 3 Plus 87" in stock. 'k Bhis 37 in nPlus 5% in stock. stock. P Subject to approval of Washington Ticker BY CLINTON COFFIN, Assoctated Press Financial Writer. Congressional debate over the pro- posed new Federal policy of regulating | passenger highway trafiic is tentatively | scheduled t0 begin before the House next week. After some months of work and more | than a year of study the House inter- state commerce committee has reported v.ith practical unanimity a measure by | which the expanding bus services now operating all over the country will be! put as completely under public control | in fares and conditions of service as are railroads. Though Federal power to regulate interstate commerce is invoked by the committee bill, and the Inter- state Commerce Commission will have to apply most of its sections, the meas- sure as drawn lodges very considerable responsibility for highway passenger traffic regulation with State regulatory ies. Chairman Parker of the House com- mittee, who has long directed his a tention to the problems presented unregulated long-distance passenger bus operation, is rather confident that the new House bill will go through this ses- sion. If it does, no bus service can be begun or continued in interstate trans- portation unless its operators hold a certificate that public convenience and necessity require the functioning of their enterprise. Such certificates would be issued by a joint board of State util- ity commission representatives in cases ‘where the intended service involved two - States, but where three or more States might happen to be drawn into a bus y | machinery, sued by a joint board representing both | the State commissions and the Inter- | state Commerce Commission. “The Federal commission would have | Powers to supervise the functioning of the joint board,” Chairman Parker said, | in explaining the bill, “and all appli- cations for permission to operate in- terstate bus lines would be directed to it. My opinion is that the great bene- fit to be afforded the public from a sys- tem of regulation of highway traffic| lies in the probable stabilization of the important industry that is developing. Once a concern is in possession of a certificate, it will be both bound to| render regular and adequate service and arotecud from irresponsible competi- on, “I look for such a regulatory system | to bring about a reduction in the num- ber of busses running on the road, and a period of bus service consolidation | throughout the United States. That | can be brought about under the certifi- | ,cate of public convenience system be- | cause operators will hold a definite | franchise subject to purchase and sale. | Now any group that endeavors to sta- bilize a given bus service by purchase | of competing units merely acquires old and has to face the prospect | of unlimited new entries of competitors into the same service. I believe that the proposed law will give the public continuing betterment in highway trans- port, and will tend also to reduce con- gestion of roads.” Railroads, it is provided by the House measures, may undertake bus service on the same plane as do independent enterprises. - - © Any careful attempt to record the | history of American enterprise now- operation certificates would be is- pansion. The Federal Trade Commis- sion inquiry into the public utility in- dustry, as it is now proceeding with the analysis of the corporate character and record of the American Gas & Electric Co., brings out that point again and again. Investment of strikingly small sums a decade or two back is demon- strated to have had remarkable results. John H. Bickley. special accountant for the Government, calculated at the commission hearing yesterday that com- mon stock of the American company represented an investment of about $1,- 000,000 23 years ago, and had grown fo represent a book value of $30,161,931 in the period since. Further, he esti- mated that the original common stock investment of $1,000,000 in the Ameri- can company now represented control over $370,000,000 of utility assets. The American company, as a holding corpo- ration, manages operating units dis- tributing electrical energy over a broad band of country ranging from North Carolina through West Virginia and Ohio to Indiana, with Eastern exten- sions in Atlantic City and Scranton, Incidentally, the Bickley analysis in- dicated, the American company's com- mon stock with its book value of around $30 per share sold during 1929 for as much as $168 per share. Baldwin Director Named.. NEW YORK, February 27 (®).— Edward F. Fisher of Detroit has been elected a director cf the Baldwin Locomotive Works, succeeding the late John M. Hansen. It also was announced | that the company's shipments in February are expected to approximate about the adays is going to result in the building up of some remarkable stories of.ex- $3,700,000, same as January, ISSUES IN ADVANCE Junior Rail and Industrial Groups Are Under Pressure. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, February 27.—With a large part of the better grade bond issues of recent origin distributed, in- vestors turned their attention again today to high-grade domestic and foreign descriptions. These sections of {the bond market opened strong and maintained a steady improvement in later trading, while the junior railroad group and industrial loans sagged some- what for lack of attention. Evidence of this trend was contained in the movement of such bonds as o American Telephone 5s (1965) and In- ternational Telephone 5s (1955) to new high prices for the year. The American Telephone bond was 115 points above its recent low. In addition to small advances in United States Government loans, ad- vances in the prime group affected Canadian " Pacific_4s, Southern Pacific 4128, St. Louls-San Francisco A 4s, Great, Northern 7s, Standard Oil of New Jersey 5s, Philadelphia Co. 5s, Utah Power & Light 5s, General Motors acceptance 6s and New York Telephone 41%s. Northern Pacific 4s were an exception, dropping nearly 5 a point. The entire list of bonds with conver- sion or stock option features went into higher ground, American Telephone 4158 (1939) leading the way with a 3-point gain. Advances were made by New Ha- ven 6s, American I. G. Chemical 5 American_International 515s, Philadel- phia & Reading Coal & Iron 6s, Chi- cago & Northwestern 43s, and Inter- national Telephone 4!5s. Erie Refining 5s were the only feature in the junior rail section. They were up fractionally on a large turnover. It was only the best grade of foreign dollar credits that commanded atten- tion. French governments, Belgian and Italian governments, and a few French and German rails and agricultural mortgage bank issues were strong. New bond offerings today totaled $25,135,000, the largest item being a $10,000,000 issue of Crown Zelerbach Corporation 10-year 6 per cent deben- tures, offered at 98 to yield 6.25 per cent. Stock warrants to buy 20 shares of common at $20 up to Sepetmber 1, 1931, ard after at higher prices, are attached to_the debentures. Issues in prospect include a $14,000,- 000 Pere Marquette Railway offerings of 4l5s. The purpose of the fssue is to reiund a similar amount of 5 per cent gold bonds. Washington Siock Echange SALES. Capital Traction 55—$500 at 9514, $1,000 at 9515, Po;,g;l:nc Electric Cons. 55—$2,000 at 2. Washington Gas 6s B—$500 at 1057;. Wn:h:?gwn Rwy. & Electric 45—$10,000 at 8535, Washington Gas 6s A—$100 at 102, $300 at 102. Potomac Electric 6% pfd.—12 at 1113, Potomac Electric 5'2% pfd.—10 at 1073, 13 at 10735, Amesric!n Security & Trust Co.—3 at 425, Lanston Monotype—4 at 115, AFTER CALL. Ana‘rn.;m & Potomac R. R. 55—$1,000 at 83. Bid and Asked Prices. Amer. Tel. & Amer. Tel. Wash.. Balto. & Annal Washington Gas s Gas 6s, series 65, series & Elec. 4 MISCELLANEOUS. ' Barber & Ross, Inc. Cham-vanbit. Hot . Gas. Wash, Rwy. . M. Cold Storage Wash. Cons. Title 6s Amer. Tel. & Telga. Capital Traction. . Washington Gus Li N. & W. Steamboat .. Fotomac Elec. 67 pfd: Potomac Elec. 5i3% pid Wash. Rwy. & Elec. com Wash. Rwy. & Elec. pfd . & Annaj Wash.. Balto, & Annap. pfd.. NATIONAL BANK. National Capital { Columbia on 3 National Bank of Washington. 250 TRUST COMPANY. American Security & Trust Co. SAVINGS BANK. Bank of Bethesda. § Commercial & Savl East Washington, American Corcoran . Fireme; n's National Unioi 5 TITLE INSURANCE. MISCELLANEOUS, Barber & Ross, Inc., com... Chevy Chase Dairy pfd. Col._Sand & P! : tl. Securities Bfd, Bromo Seltzer A’ Monot. ister ' & Biora & Stor. Woodward & Lothr *Ex dividend. ——— Symington Company. BALTIMORE, February 27 (Special). —The Symington Co. reports a net profit for the year ended December 31 of $304,773 afier depreciation, Federal taxes, etc., as compared with a net of $214,220 in the preceding year. Net for the year is equal to $1.52 a share earned on 200,000 no par class A shares outstanding, as against $1.07 a share in 1928 on the stock then out- standing. For the quarter ended December 31 net amounted to $112,278, or 56 cents a share on the class A, as against a net of $59,833, or 29 cents a share, in the final quarter of 1928. - Exchange By-Laws Amended. NEW YORK, February 27 (#).—An amendment to the by-laws of the New York Cotton Exchange has been adopted eliminating the existing 35-point dis- count on cotton delivered at Southern delivery points in fulfilment of future !contracts. The amendment becomes ef- fective today, with October the first fu- ture position affectdd by the change. UNITED STATES. (Sales are In $1.000.) Sales. High. Low. 3 9918 9917 Lib 3% . Close. 9918 Liblst4%s.. 49 10031 10029 10031 Lib 4th 43%.. US3%s 43., USI%s 47.. 11 u u 8451944 118 10110 1017 3 9920 9916 9920 9922 9919 9922 160 1078 84% 52... 181 1119 1018 1076 1076 115 1115 FOREIGN. Argentine . ..... Argentine 6sJu 69 Argentine May 61.. Argentine 6s Oet 63 Argentine 5% 6 Bank of Chile 6%s. Belgium 6s. Belgium 6%s Belgium 7s 1 glum 7s 1 Belgium T%s Belgium Rolivar 7s 58 Bremen State Ts. Canada 5s 1931, Canada 5= 1952 Chile 6 60 ChHe 63 61... Chile 7s 1943...... Colombla 6s Jan 61. Con Pow Japan 7s. . Copenhagen 41 53. Copenhagen 6s ct. . Cuba 5% Czecho 85 1951 Denmark 4% . Denmark 5155 55.. Denmark 6s. . . Dutch East T6s 62. Finland s f 65 45 Finland 7s.... Greek 6s 1963, Hait! Irish Free State 5 Ttaly 7 Ttalla Tapanese . Japanese 6%4s. Jugoslavia Bank 7s Rarstadt 621943, .. Kreuger&To'l bs et. Norway 6s 1943, Norway 6= 1944 Norway 6%s 1952, Orfent dev 6% 68. . Orient Dev'mt 63 53 Paris-Ly-Med 6s Peru 6 1960, Peru 68 1961 Porto Alegre Queensland 7s. Rhinelbe Un 7 Rio Gr Do Sul Rome 6%s Sao Pauio 8y 193 Sao Paulo 1950, Shineyetsu 6%852. Solssons 6: Sweden 5%s. Swiss 5345 194 Swiss Confed $s. Toho Fl Pow 6s 32, Toho El Pow 7: Toklo 5% 1961. 7td Kingm 5%» 27, Unt S S Copen 8s 37 Uruguay 6= 1960, Vienna 6s 52 Warsaw 7s 6! Yokohama .. 1 Sales. High, Low. 2 88 88 96% 9T% 97 96 97 1004 4 10! N2 1001 10416 101% Close. 88 96% ik 100% 109% 921 10016 10414 101% 95 % 100% 4 10674 115% 121 894 1074 10215 861 97 614 98Y 95 D6 4 103% 4 104 104 0% 5 100% 8RN 98 103% & 105% 4 100% 73% 74 9314 104% 100 96% 854 7% 96% MISCELLANEOUS. Abitibl Pa&P 58’53 34 Alleghany Cp 6s 44 10 Alleghany 6s 49 Allis Chalmrs 58 6 Am Int Cor 6348 49 116 Am NatGas 6%s42 4 AmSmit& R1stbs 5 Am Sugar Ref 6s... 2 Am T&T cv 4%8 391842 Am Tel&Teleg 55'65142 AmT& T el tr 6 29 Atlantic Refin Bethlehm Stl pm 58 Beth Steel rf bs. Bush Term Bldg 5 Certn-Td 5%s rets, Chile Copper 6 Col G&FEI 68 May 52 Com Invest 5% = 49, Com Invest 65 "48. Con Coal Md 5t ConGasN Y 6% Consumers Pow 5s. Cuban Am Sugar 8s Det Edison 55 40... Duquesne 4% s 67. Gen Cable 5%s 47 Gen Mot Ac Cor Gen Pub Serv 5% Gen Stl Cast 5% Goodrich 6% Goodyear b Hoe & Co 6%, Humble O & R bs. . Humble O & R 6%s Int] Cement Intl Mateh Int Paper b: Inter Paper Int Tel & Tel 4% Int Tel&Tel 4% s 0 v Intl Tel&Tel 65 '55. Lackawanna Stl b: Laclede b e Lautare Ni Ligget&Myers Liggett & Myers Lorillard (P) T Lou Gas & E1 53 53. Manati Sugar 7%4s. McC'rmick ER 6 Midvale Steel Montana Pow Montana Pw Nat Dairy N Y Edison I%Pil o G&EHPGbs.. Slomal nmann weton o North Am Edi To A 1d bus 62 83 821 101% 101% 100% 100% 4 101'% 1008 5% 955 993, 1015 103% 9 9 7% 96 104% 91 100% [ G KA /5% 10434 9Tih 101 103% 1021 102% FINANCIAT. HIEHHSRADE BOND | = == o BONDS o ms] |1, . CHAN STORE Phillips Petro 6 3, Postal Tel & C 538 Pub Serv G 4145 '67 Pub Serv Gas 4148, . 4 Pure O11 5%s'37.... Remington Ar 6 32 Rem Rnd §% Richfleld Ol Stand Ol N Y 4%4s.. Tenn Cop 6s B Tenn ElecPo Tex Corpev Utilities Pow b % Walworth 6s 45. War Quinland 6: Warner Sug 7s 41 Western Elec 68 Win Repeat Ar 7 Youngstn 8 & T bs. 101 RAILROAD. AS&SF cvt ds 2 9 Atchison gen Atchdeb 41s AtlantieC L 1 Atlantic C L 4; Atlantie CL 4%s 64 Balto&Ohto gold s B &Orf imp B&OSW b8 B & O Toledo Bang & Aroos 4s 61. Boston & Maine b Brdway & 7th Av 68 Bklyn Manhat 6s... 1 Bklyn Un El 68 0., Bklyn Un El s sta.. Buff R & Pitts 4348, 2! Bush Term con bs.. Can Nat 4% "57..2 Can Nat 4%s'68. Car Clin & O 6s 53.. Cent of Ga 65 C 5. Cent Pac 1st 68 90.. " Chi B&Q gen 43 63.. Chi&E 11 gn 68 61.. Chi Gt West 43 69, Chi MIISP&Pacs i CMSP&Pac adj6303 ChiN W 4%s 2037, Chi& N W con 4% Chi Unfon Sta 65 44. CCC&StL 4%s E. Cuba Nor 5% ets Del & Hud 1st rf 48 Del & Hud b¥%s. . Del & Hud 75 30. Den & Rlo G en DRG& Wstbs DRG& Watbs Erfeconv 4s A, Erie conv 4s B. Erfe 1st cons Erie Gen onv £x (Pa)clt tr Fla East C 6874, Gr Trunk st db Grand Trunk 7 111-C-C-StL&NO bs. Int Rapid Trans bs. Int Rap Tr bs stpd. Int Rapid Trans Int Rapid Tran Int & G Nor 1st 6 Int & G Nor adj 6 Int Rys C A 6%sret Towa Cent 1st b Lake Shore 3%s Lehi Valen LehiVgen 4 . Lehigh Valley 65 20 Long Is rf 4s 4 Louis & Nash uni 4 L&N4%82003.... Louis & Nash 5%s. Mil El Ry & L 6s 61 Minn & StL ref 4 MStP & SSM 6%s. MK&T4sB...ooo MK & T adj bi MK&TprinbsA. Mo Pacific gen 4s.. Mo Pac 58 F' 77. Mo Pac 55 G 7. Mo Pac 538 49 cvt. Mont T"rm ref 5s 41 e aQ Z42Z72Ls 2% 22220k 2% 207 Mg w g g g 4 g Z2zZa0aa0a ] Nor & S gen 55 64 Nor Pac 38 2027 Nor Pac 4 Nor Pac 4%8 2027.. Nor Pac rf 6 Ore Wash 1st Penna 4s 1948 stpd. - o BuloZavierarsmZoenssrmnBoiBasas oB28onrrsraRioa mommnmun~ mReRuxSen o Port RL&P 7% Reading gen 443 A. 9914 | Reading J C 45 51 Rio G W 1st 4 RIAtk&L Low. 101% 1o1% 1021 102% PROFITS INCREASE 4128 Companies Show Gain of 12.1 Per Cent. Over Re. turns for 1928. 100% 100% 96 96% 96% 97 95% 95% 100% 100% 100% 100% 101% 101% 984 984 95% 954 102 102 104% 104% 1021 102% 95% 954 99% 100% 106% 106% 100% 100% 98 98 9315 93 261 8614 98 98% 87% 88 9% 90 84 84% 106% 105% 101% 101% 101% 1015 108% 100% 102% 102% 99% 10 100 100 101 101 91 91 9% 92% 135% "138% 9% 917 8814 88% 98 © 98 92 92 991 9% 1021 9TH 9T% 93% 93% 93 931 101 101% 110% 110% 103% 103% BA% B4l 98 98 & 101% 101% 643 85 921 2% 2% 95% 95% 99% 99% i 4 108% 108% 100% 100% 69% 10 8% 88Y 963 94 97 97 102% 102% 9 95 87% 6812 68% 92 92% 4 103% 108% . * | sweet 101 57 101 57 4 104% 104% 109% 1091 103% 103% 941 94Y% 110% 110% ™% 1% 91% 91% 1% 92 89% 88U 98%, 66 65'% 581 53% 89, 89% 103% 104 89U 89U 963 961 33% 334 81% 81% 87 87T% 97 98Y% 107 107 89% 89% 95% 05% 106% 106% 95 95 100% 100% 87 88 104'% 1041 101% 101% T5% 7Bl 99 99% 9% 991 110 110% 9% 96 551 551 93% 94 102% 102% 9% 9% 974 98 89 89% 8% 98 106% 106% 106% 1063 w o w 95%% 951% 991 991 04% 948 106% 106% 106% 106% 101% 101% 1024 102% 5% 75% 831 83% B4% 84% 128 129 106 106 B55% b56% 66 88% B8R 95% 95%% % 112% 112% 89% 89K 02% 02% 981 984 8% 08% 4 1083 10615 103% 103% 108% 108% 0% 9% ot Contrary to (m}uenfly expressed opin- ion that the ings of the chain store industry in 1929 would not maintain the same degree of increase shown in 1928, total final or preliminary figures for 1929 of 28 companies show a gain in_both dollars and percentage over 4928 greater than the gain shown in 1928 over 1927, according to a survey by E. A. Plerce & Co. This list com- prises grocery, 5 and 10 cent, restau- rant, drug, apparel and miscellaneous Xchnm. Large increases reported by 22 of the system offset smaller earnings re- ported by’ the remaining 6. Total profits of the 28 « companles amounted to $126,524,957 in 1929, com- pared with $112,784,729 in 1928 and $101,499,711 in 1927. The increase in 1920 was $13,740,000, or 12.1 per cent over 1928. The increase in 1928 was $11,285,000, or }1.1 per cent over 1927, Grocery Group. ‘The grocery group made the most consistent gain. The total increase in earnings of this group in 1929 was 31 per cent, against 20.9 per cent in 1928. The drug group was next, with a net gain of 29.5 per cent in 1929, compared with 18.1 per cent in 1928. A gain of 21.4 per cent was registered by the ap- parel group, compared with 19.3 per cent in 1928. Lerner Stores the largest individual gain in 1929, amounting to 79.7 per cent. 4 In reflection of the 'vigorous ‘eff of all chain store executives toward in- tensification of sales, the gross volume of business done by the 28 companies in 1929 showed an increase of 21.7 per cent over 1928, whereas in 1928 the in- crease -.was 15.6 per cent above 1927. The sales total last year was $1,860,- 627,000, compa#ed with $1,528,440,000 in 1928 and $1,322,168,000 in 1927, “W:Il; botll: ul;s and profits of these chains showed a greater percentage of increase in 1929 than was shown in 1928, a smaller increase was shown in the total number of stores operated. The total increase in 1920 was 12.7 cent, against 25.6 per cent in 1928. 'g: totals were 19,958 stores at the end of 1929, 17,700 in 1928 and 13,979 in 1927. Profit Comparison, ‘The comparison of reported - s after taxes follows: T o ne Pro Grocery group— gl\‘nll_r $19,217,88§ 35,604, Tt '798.095 1930, 897,168 670.680 $60,008,235 535,285,808 15,642,853 $2,190,379 531110 « 34,705,261 $12,797.871 2,752,424 $15.550,205 s Total ... Drug. e Walgreen . Total . Nedicks ... Truns Pork Total ..... nd tot: Snina *Inclu Prelimin ..$112.784.720 e e Special Dispatch to The Star. | BALTIMORE, Md., Pebruary Foms | Potatoes, white, 100 pounds, 2.25a2.70; Ppotatoes, barrel, 1.75a2.00; yams, zblrz;!l. hl;l':llioi beets, M‘ w!\‘.. 2.00a .25; . cal e, hamj 75a1.00; , 100, 3.0084.00; caulif o 1.60; celery, crate, 3.00a5.50; lettuce, -:;i‘te. 2.15:‘)13.25; dkl,u'l‘fl?:ml. 15a1.25; ons, un .50a1.75; crate, 3.00!!.,’03: peas, bushel, Zm parsnips, basket, 40a50; spinach, bushel, 50a90; squash, bushel, 2.50a4.00; toma- toes, crate, 2:50a5.00; turnips, hamper, (i s e, et g . bk, 6. £ fruit, X, gfih‘.fi; oranges, 2.10a4.50; strawber- ries, quwrt, 15a45, Dairy Market. Poultry, alive—Turkeys, , 30836; old toms, 20a25; Spfl.n!y: e M.’Ol 35; poor, thin, 19a20: old roosters, 17a 18; capons, 30a36; ducks, 17a30; old , each, B 3 , 25a30. J0a70; pigeons pair, pts, 1,620 cases; hennery white, firsts, 29a291s; firsts, 28a28%, . Live Stock Market, Cattle—Receipts, 200 head; supply light, market steady. Steers, choice to prime, non 12.00a12.50; medium to good, .00; fair to medium, +25; plain to fair, 9.25a10.25; common to plain, 8.00a9.00: choice wdl;flme. none; good to choice, none; medium to good, $.5029.00; fair to medium, 8.00a8.50; Ellln to ll‘lr, 7.00a8.00;: common to plsin, 7.00a7.50. Cows, choice to prime, none; “good to choice, none; medium to 1.50 to 8.00; fair to medium, 6.00a7.50; plain to fair, 5.00a6.00; common to plain, 4.00a 5.00. Heifers,' choice to prime, none; 8ood to choice, 10.00a11.00; medium to good, 9.00a10.00; fair to medi X 30 e oo TR Sty plain, 6.00a7.00. springers, dooomisono. e eep and lambs—Receipts, 50 head: light supply, market lower, 008 6.0; Jambe, 700a1250. . eI ‘alves—Receipts, 25 head; 'light sup- ply, market lower, Calves, v.oo’fu.o%f’ lyHmuk?:c):lgf . Lights, 12.008 3 er. , 12, Reavies, - 11.50a11 90+ s 12.10; 'roughs, 7.50a10.00; 10.00a10.50; pigs, 11.20a11.40, lum, 11.75a light ~ pigs, les. High, 3°100% ,}2 965 Sa Low, Glage. St L IM&S &n 58 '31 100% St 1 IM&S R&G 4s % Sou Ry Mo & O Tex Ark F'S 6348 50 Tex & Pac 63 C 1! Third A ‘Third Ave ad) Virginia Ry 1st 68, VYRy &P . Va Southwn con 5s. Whash 4%s 78 rets 100% 87 101% % 2‘! West Pacific U}a West Md5%877..0 1 964 964 96 WisCentgndsdd.. 2 814 814 8134