Evening Star Newspaper, February 28, 1930, Page 14

A—14 wnm = HUGE SUGAR MILL | FINANCIAL. STAR, WASHINGTON, D. C, FRIDAY, FEBRUARY - 28, 1930 FINANCIAL /BOND PRICES GAN | [ woxe BONDS 7o scnvs] | DEMANDFOR BONDS ON EASIER CREDIT -/ vz e CONTINUES. QUIET £ Sales. High. Low. Close. LibiS%s..... 165 9920 9918 9920 Lower Interest Rates Fol- Many New Issues, Chiefly THE EVENING High. Low. Close. 101 101 101 104% 104% 104% 101% 100% 100% 100% 100% 100% 6 102 102 102 981 98K 98% (Continued From Page 13.) Nor States Pow b Stock ana Sales— Dividend Rate. uac;.l.lm Low. Close. d Add 00. High. Rate. d ; Coerer 200 64% 33 101 10031 206 10110 1017 19 10710 1079 21 11111 1116 101 1019 107 10 11111 mod (d5) 51% Manhat Elev gtd (7 Snider Packing pf 29% Marlin-Rockwl t43§ Solvay Am In pf 6%. Pennsylvania Company De- velops Business on Shore of Lake Okeechobee. BY JOHN F. SINCLAIR. Special Dispatch to The Star. MIAMI, Fla, February 28.—Probably the most substantial business enterprise in South Florida is the sugar industry around Clewiston and Lake Okeechobee. ‘This development is about 50 miles west of Palm Beach and directly south of the ridge section of the State. One of the largest sugar mills in the United States has been erected there and another one, still ll:gelr. is ben‘:‘v’ built. According to present plans, & mill each year will ge constructed dur- ing 1931, 1932, 1933 and 1934, making a total of six and they will be the largest r mills in existence. m‘lhla development has provided for a budget of $72,000,000, covering plant and investment, which will be dis- it is at not less A men m‘mfly employed in these ills. l”"‘1‘)1].! section of Florida alone is ca- pable of fu half the sugar re- juired to supply the population of the nited State: said B. G. Dahlberg, president of the Pennsy! ia Sugar Co., which is developing the enterprise. ‘This company has found it possible to use the so-called “surplus of the sugar cane” in the manufacture of sound- proof building construction, especially walls and Its product is used widely in radio stations where sound- proof walls and ceilings are so necessary. “Our sugar development in Florida will cost us more than $100,000,000 in the next five years,” said Mr. Dahlberg to me. “Our extensive research has shown us that no finer sugar land ex- ists than this Southern Florida land. It will produce more per acre—very much more—than_other places. But this is necessary, because higher labor costs must be figured in here against the lower costs elsewhere. Florida will be a8 well known in the future for its m&u production as Brazil is for its coffee.” Business leaders on vacation are not inclined to talk shop. They will up on golf scores, but ask them m‘ business matters and most of them of life that it has be- nature to talk about their e. time. ard E. Shumaker, president of R. C. A.-Victor Co., a leader in its ld, thinks that while television is still prol the laboratory ', on account of hibitive prac cost, radio will not have to wait very long pictures for the will be a e in a short period time, because the apparatus for economically is al- for the market,” said Mr. Shumaker. “This should be the first practical television development.” But the radio will play the big part ‘the next war, thinks this business V plants, now spring- scattered sections of States, utilize ordinary pine plants at Brewton and Decatur, were secured through the work of Dixic Blant of the Goodgess Time e ear Tire & Rubber Co., bullt at Gadsden at a cost of $8,000,000. At Gadsden, a rubber reclamation plant, where cast-off rubber shoes, tires and other products are remanufactured inte other rubber items, shows what can be done in using waste products, said this Alabaman. Col. Mitchell, one of the South’s big of industry, began his business career as a clerk in & store at $25 per month. Then he struggled through lean years, first as a postmaster, then a rail- Toad employe, then a bank official and ln%:neume a public utility leader. - all is said and done, generally , progress is made in direct mwwfl.\on to the amount of work put to any enterprise,” were the colonel’s concluding words. Many of the finest yachts in America are in Miami. Some have been cruis- ing about Florida, Cuba and the Ba- hamas all Winter. Others have been content to stay closer to the Florida coast. When Alfred Sloan, jr. president of Geperal Motors, arrived the other day on his yacht, Walter Chrysler, president of the Chrysler compl;y, was with him. Both were sun-tann after days of crulsing in Southern waters. Stories flew thick and fast that a mel’gl of fl’r two powerful groups was the a But the real fact is that two old friends went cruising together. There is nothing to the merger story. These automobile leaders have known each other and have been on the friendliest terms for many years. There is a {riendly business rivairy between them, buf the friendship which began when both were youngsters and not so con- spituous remains in these later years. It's a fine spirit; especially so in what probably is the most keenly contested ang competitive industry of all—that of selling automobiles. Matthew C. Brush of New York, pres- ident of the American International tion, known to as many Ameri- can business leaders as any other Amer- ican, arrived here yesterday aboard his yaght, Marilda. Mr. Brush began his business career as®a newsboy in Minneapolis. Then he“became a hotel clerk and a purser on_the Great Lakes. Next he entered the shops of the Unjon Pacific Railroad at Omlhlfr. where -first official position was ani-to the president of the Boston Ele- vated Railroad Co., vice president president. Now he is a director in many large institutions, including the International Mercantile Marine and United States ~Business is coming along finely,” 20% Marmon Motor (2 49 May Dept Strs (n2) 16% Maytag Co (12) 29% Maytag Co pf (3 26% Melville Shoe (2) 15 Mengel Comparny 23% Metro Gold pf ( 164 Mexican Seaboas 26% Miami Copper (4)... 53 Michigan Steel (234). 1 23% Mid-Continent P (2). 14 37 Midland Steel Prod. . Mid Stl Prod 1st (8). 3% Miller Rubber. 12% Minn Moline 72 Minn Moline pr 63. MStP&SSMpf, 46% Mo Kan & Texas. ... 03 Mo Kan & Tex pf(7). 87 Missouri Pacific 134 7 Missour! Pac pf 31% Mohawk C Mills (3 49 Monsanto Ch (g13% 49% 38% Montgomry Wrd (3). 12% 8% Moon Motor: 1% Mother Lode (40c). . 4% Motor Meter G & E. ., 3. 264 Motor Wheel (3). 20% 12% Mullins Mfg. . . MurrayCor (b2 %stk. 42% 35% Myer(FE)& Bro (2). 58l 50% Nash Motors (6) 584% 106% 1 93 ). ). Natl Biscuit (7) Nat Bis n (p2.80). 72% Nat Cash Reg.A(14). 45% Nat Dairy (32) 20 Natl Dept Stor s (2). atl Enameling (2) Natl Lead pf B (6).. 354 Nat Tea Co (2) . 274 Nevada Copper (3).. 40 Newton Steel (3). 180 N Y & Harlem (5)... 167 N Y Central (8). 130 N Y Chi&StL (6) 108% NY NH & Hart (6).. 13% N Y Ont & West..... 16% Norfolk Southern. .. 226 Norfolk& Westn(10) . 93% North Am(b10%stk) 51 North Am pf (3) 84 Northern Pac (5 82% North Pac ct (5) 9% Ofl Well Supply. 18% Oliver Farm Equip.. 70 Olivr Fr Eq pf A(6).. 31% Olivr Fr Eq cv pt(3). 2% Omnibus Corp...... 47 Oppenheimer Col (5) 280 Otis Elevator (6). 53 Outlet Co (4).. 15 Pacific Coast 2d pf. 52% Pacific Gas & E (2)., 2 1 2 3 100s 408 12 9 008 26 1 1 Exchang E 5 Pathe Exchange A... 6% Peerless Motor Car.,. 26% 17% Peoria & Eastern. .., 94% Pere Marq pr pf (5).. 38% Phelps Dodge (3).... 11% Phila& Read C&1... 29% Phillips Petrm (n2). 8% Philip Morris(1). 2% Plerce Petroleum.,,. Pillsbury Flour (2).. 45 Pirelli Co A (2. 60 Pittsburgh Coal..... 17% Pittsbgh Screw 1.40.. 20% Pittston Company 27% Poor & Co (B) (2). 10s 113 10 84 594 1 3% Reis (R) & Co. 25% Rem Rand (1.60).... 92 Reming-Rnd 1st (7). 100% Rem Typ 1st pf (7).. 14% 10% Reo Motor Car (.80).. 81 72% Repub Ir & Steel (4). 107 Rep Ir & Stl pf (7) 7% 4 Reynolds Spring. . 72% Reynolds Tob A (3' 49% Reynolds Tob B (3). 22% Richfield Ol (2).. Gi 98% 109 49% Royal Dutch (a! 961 Safeway Storestes). 105% Safeway Strs pf (7). 92 St L-San Fran pf(§). 59% St L Southwestern. ., 243% Savage Arms (2). 4% Schulte Retail Strs. . 35 Schulte Retall p£(8). 82% Sears Roebuck (32%) 9% Second Natl Inv..... 58% Sec Natl Inv pf (5).. 7% Servel Ine.......... 36% Shattuck(FG)(t1%) 42% ShellTranspt(a2.41). 23% 21 Shell Union (1.40)... 104% 101 Shell Un Oll pf (5%) 14% 8% Shubert Theatres. .. 1 508 13 5 2 1 4% 4 898 22% 19% B4% 84 108% 1084 95 5 2 101% 10 12% 0% 101 Stand Bj Stand G Stand O Starratt Sterling Sterling Sterling Ste: Stone & Telauto TexPC Timken Timken Tobacco Transco Transue Utd Car! Utd Dye U S Frel aaccadcqaq 8 s 8 s 8 Rubl s s s s Warner Warren Warren War: % 98% OTH, 109% 109 2 13% % 1 % 83% 36% Y% 98 100% 111 13% 131 5% 6% 114% 113% 5¢ 5% 4% 53% 241 18% 424 50% 99% 99% Am R M 108% 1084 95 1% 8% 15% % 1 18% 34 10:30 A M., . 1:30 P.M. Dividend as gl 5 Unit of trading les: in stock. §Payable in o s o ot able e B riua 2% in slock: Se.” in stock. 124 stocknolders. 444 42% 1% 1 12% 1014 12% rt-War (h3%). Studebaker Co (5) Submarine Boat Superior Oil. Superior Stee! Symington (A)..... Texas Pac Land Tr. . Thatcher Mfg (1.60). Thatcher pf (3.60). .. ‘Thompson J R (3.60) Thompsn Prod(2.40) Thompson Starrett. . Thomp-Star pf (3% ) Tide Water Asso 60c. Vick Chemical (2% Virginia-Car Chem. . Vulcan Detinning. .. 170s Vulean Detin A. Vulcan Detin pf (7).. 10s Walworth Co (2) Ward Baking A. War Bros P pf (2.20) Warner-Quinlan (2). Col Carbon..Mar 11 Lig & Myert South Cal Ex Sales of Stocks on New + 2,040,400 payments based on the latest quarterly or half yearly decla J Plus 8% in stock. k Pl So Por Rico Sug (2).. Southern Cal Ed (2). Southern Pacific (6). Southern Rwy (8)... Southern Ry pf (5).. Spalding(AG) (2) % Spalding 1st pf(7).., 10s 109 Spang-Chalfant. . 1 Sparks Withngtn(1). 28% 45 22% 01 rands (1%).. Stand Com Tob (1).. Stand Gas & El (3%) &EDpt(4).. Stand Invest Corp. .. of Cal (234). Stand Ofl Exp pf (5). Stand OIl N J (12)... Stand Ol N Y (1.60). Stand Plate Glass. .. 14 11 ~© (L 8) Co(2). SecA...... Sec pf(1.20) Secov pf(3) oo ERem snancnbaanan Webster (4). Cp (11.25)..y &0 (b10%). o 8= Det Ax 1800 Roller (3)... Produects. .. ntinental Ofl, & W (1).... Trico Prod (23).... Truax Traer (1.60). Twin City Rp T (4).. Und-Ell-Fisher (65).. Union Carbide (2.60) Union Oil of Cal ($2) Union Pacific (10)..., 4 Union Pacific pf (4).. Utd Afrcraft& Trans, Utd Afrcraft&T pf 3., Utd Biscuit (1.60)... bon (2). Utd Cigar Stores. Utd Corporation. Utd Corp pf (3)... wood . Utd Dyewood pf United Fruit (4) ) Im pt (5).. ght (3)....., S Ind Alcohol (17). Leather A......; Plpe & Fary (2).; er 1st pf. .. Ref (33%).. 1t Ref pf 3%, (7)., Steel pf (7)... U S Tobaceo (4)..... 1 Univ Pict 15t pf(8).. 20s Utll Pwr&Lt A (e2). Vadsco Sales Corp ‘Vadsco Sales pf (7 18 pL. .. 40 e 1008 3 Bros Plc (4). 706 10 6 Bros (19). 10 Bros 1st . 49 E&M (5) 321 E&M pf (5) 1508 Ellns (1)... Eagle 01l (2)., Woolworth (3.40)... Worthington Pump.. Worth Pump A (7).. Worth Pump B (6) Wrigley Wm (4) Yellow Truck & C. Yellow Truck pt Young Spring (3). Zenith Radlo........ RIGHTS EXPIRE ills. .June 15 1% 14% 3% York Exchange, 12:00 Noon. .....1 OP.M.. .12 Mar 12 rts) 393,000 (307,000 ,359,100 60,0, the sbove tables are the anausl « s than 100 shares. t Partly extra. scrip. § Plus 9% in stock. a P ar— able i . e Pay- in stock. stock. m Plus approval of : us 3% in in stock. p Subject to Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., February 28.— Potatoes, white, hundred pounds, 2.25a 2.70; sweet potatoes, barrel, 1.7582.00; yams, barrel, 1.75a2.50; beets, basket, 2.00a2.25; cabbage, hamper, 75a1.00; carrots, 100, 3.00a4.00; caulifiower, crate, 75a1.50; celery, crate, 3.00a5.50; lettuce, crate, 2.50a3.25; kale, barrel, 75a1.25; onions, 100 pounds, 1.50a1.75; s, crate, 3.00a6.00; peas, bushel, ?fi)lrz ; parsnips, basket, 40a50; spinach, bushel, 50a90; squash, bushel, 2.5004.00; tomatoes, crate, 2.50a5.00: turnips, hamper, 25a30; apples, bushel, 75a2.50; cranberries, box, 6.50a7.00: grapefruit, box, 2.50a4.25; oranges, 2.10a 4.50; strawberries, quart, 15a50. Dairy Market. Poultry, alive—Turkeys, pound, 30a3€; old toms. 20a25; young cnickens, 30a36: poor, thin, 19a20; old roosters, 17al8; capons, 30a36; ducks, 17a30; old hers, 28a30; Leghorns, 24a25; guinea fowis, each, 40a70; pigeons, pair, 25a30. Eggs—Receipts, 1,403 cases; hennery, whites, firsts, 20a20%;; firsts, 28a28Y,. Butter—Good and fancy, creamery, 34a38; ladles, 31a32; store packed, 20a21; rolls, 25a28; process, 33a34. Live Stock Market. ‘attle—Receipts, 250 head; luppg Ci light, market dull. Steers, choice p‘glme. none; good, 12.00¢ ; medium said he in a good-by wave of his hand. 3 ), by North American News- b g l':‘l'”l’ Alliance.) . POTATO MARKET. GHICAGO, February 28 () (United Department of Agriculture) — Potatoes—Receipts, 89 cars; on track, 290; total United States shipments, 753 cars; trading slow; market dull; Wis- ‘ eansin, sacked round whites, 2.3582.50; +/ *fMnesota, sacked round whites, 2.30a 2.35; Idaho, sacked russets, 2.80a3.20, to good, 7.25a12.00; fair to medium, 10.25a11.25; plain to fair, 9.25a10.25; common to plain, 8.00a9.00. Bulls, choice to nmu.m none; m ?oo"”x'f'u 8.00a8.50; plain to fair, 7.00a8.00; common to plain, 7.00a Cows, choice to prime, none; (_?nd to plain, 6.00a7.00. Fresh cows and springers, 60.002150.00. Sheep and lambs—Receipts, 50 head; light supply, market steady. Sheep, 2.00 26.50; lambs, 7.00a12.50. Calves—Receipts, 50 head; light sup- ply, market steady. Calves, 7.00a15.00. Hogs—Recelpts, 500 head: moderate supply, market lower. Lights, 11.75a 12.00; heavies, 11.25a11.85; medium, 11.75a12.10; roughs, 7.5010.00; light Pigs, 10.00a10.50; pigs, 11.20a11.40. Hay and Grain Prices. Wheat—No. 2 red Winter, L14l3; No. 2 red Winter, garlicky, spot, . February, 1.15; March, 1.15; No. '3, garlicky, no quotation. Corn—No 2 domestic, yellow, new, 95a96; cob corn, new, 4.65a4.75. Oats—No. 2, white, domestic, spot, 53; No. 2, white, domestic, spot, 52, Rye—Nearby, 80a85. Hay—Reoceipts, 13 tons; general hay market is quiet; some little hay is ar- riving, 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 guality and condition, re- ce!pt; by truck supplying most require- ments, COMMERCIAL.CREDIT CO. GETS CUBAN BUSINESS Kemsley, Millbourn & Co., limited, foreign affiliate of Commercial Credit Companies, has established the Com- pania Cubana Kemsley Milbourn, a | subsidiary, for the handling of desirable time sale business in Cuba, according to R. R. leby, president, who has just returned to this country, Mr. Appleby sald that arrangements have already made for the financ- ing of substantial volume of good business through the new company. Plans to Increase Stock. NEW YORK, February 28 (#).—The Indian Motor Cycle Co. has gotified the New York Stock Exchange 00d, 9.00a1 fair to medium, 8.00a .00; plain to fair, 7.00a8.00; common to increase its authorized export, | Yol INCOME TAX Business property kept in repair may be the subject of a depreciation allow- ance. The allowance for depfeciation is intended to cover the estimated lessening in value of the original prop- erty, due to wear and tear, decay, etc., which in time will require the abandon- ment or replacement of the property, in spite of ordin: current repairs. The cost of incidental repairs, which neither materially add to the value of the property nor appreciably prolong its life, may be deducted as a business expense, provided the plant or prop- erty account is nef increased by the amount of such expenditures. If, however, the repairs are of such a kind as to make good- the deprecia- tion, for example, & new floor or a new roof, the cost is not deductible. The amount expended by a taxpayer during the taxable year for improvements, re- placements, or renewals of a perma- nent nature is a capital expenditure, and may not be deducted from the gross income for such taxable year. The amount so expended should be charged directly to the property ac- count or to a depreciation reserve ac- count, accol to how depreciation is treated in the taxpayer’s books of account. A rate portion thereof may be deducted as de tion each year of the life of such improvement. o Interest lepomd?old. NEW YORK, February 28 (#).—The Fipe Lina 00, 1 reeriad > Tavs ahar e Co. ve mrde to the Houston Gulf Gas Co., a subsidiary of the United Gas Co., for from 200,000 to 890,000 about $3,500,000. The sale carries with it control of the company, % | National Savi Uhion T lowed by Advance in Prime Issues. £, 'Y F. H. RICHARDSON, Special Digpatch to The Star. NEW YORK, February 28.—Influenc-,| : B statement and a lower rate for time money, the bond market made sub- stantial progress toward higher levels today. The increase in funds available fe bond buying coincided with a decling all this week in the amount of nem offerings brought out, so that prirpe bonds especially were in demand tod'ay. Many issues of the high-grade section were within small fractions of their ‘dest prices of the year. Among these -were St. Louis-San Francisco “A” 4s, Union Pacific first 4s, Canadian Nationsl 5s, Inland Steel 415s, Standard Oll off New Jersey 5, Philadelphia Co. 55 and Columbia Gas 5s. New issues, sukch as American Telephone 415s (1965), Tnter- national Telephone 5s (1956) anci West- ern Union 5s were active arourd their highest levels since issue. 596,000, of which the largest item was $15,500,000 City of Detroit tax-antici- pation notes, awarded to the National City Co. group at 4.30 per ‘cent. American Telephone 4% (1939) and other bonds with stock 'privileges ad- vanced strongly with thelr companion stocks. The American Telephone con- Jertibles equaled their high price for Among the junior railroad bonds and industrials the gains were offset by a few declines. St. Paul adjustments, Denver & Rio Grande Western 5s, Erje general lien 4s, Erie refunding 5s, Sea- board Air Line 6s and Seaboard All- Florida “A” 6s improved. So did Inter- national Mercantile Marine 6s, Inter- national Paper 5s and Dodge Bros. 6s. ?x:xlnllco:“lunyl bg:fi';erthulet. with ains in Petroleum 5, and Sinclair 6%, e rength in German and French bonds featured the ‘fareign department. ::::me:d o!h a Bo‘“ tantial character made by Borgfeaux 6s, Lyons 6s, ine 7s, Prench ‘7s and 1’,’,:? Paris and Lyons and )Mediterranean 6s. In w:uoletrmm 'g;uhp ’Deuuc!u Bank 6s & new for the k g:m' . 2] e year and 1o tock Exchange SALES. w::l'lllaxllfion.un 55—$500 at 101, $1,000 Potomac Elevtric 5 1d.—8 Lanston Monotype -4 eh ?15-/.“ T Real EstatesMtge. & Guar. pfd.—100 at T 4at7. AFTER CALL. Potomac Electric 6s 1953—$9,000 at 1063 Federal-American Co. com.—20 2 Potomac lectric Cons. 5e—$2.000° ot Y Polbg_rfl:c Electric 5%% pfd.—10 at : Amer. Trel. & Am. Tel & Anscostin'@ Anacostia & Amer. Tel. & Telga. 4! ‘. Pot. R. LRI PEPE Suburban Georgetown Georeetown Gas 1st Cons. Potamac Ele Al s 6s. series Rwy. & Elec 4s. rber & * Chevy Chase Club 253525 LEERY 3 = FF er. Tel. & xton Gas Li N N & W. Slellflbflll‘.ht Potomac Elec. 6% pfd slatnm-c Elec. 5157 Second | gl 1 Netional Balnk ‘o Washington.. TRUST COMPANY. American Security Continental - Trust. o, 1Tt Merchants' Bank. T on Trust. Washington Loan & ‘Trust. FIRE INSURANCE. American Corcoran Firemen's National U TITLE INSURANCE. Columbia Title Real Estate Tit Title & Inv. of Md. com. MISCELLANEOUS. Barber & Ross, Inc.. co Dairy 'pf ol Band & Gravel . Paper Mfg. District Rational e Emerson Bromo Seltze; Federal Storage pd .. Federal-American’ Co." "Goi. Federal-American _pi Lanston Monotype. erchants’ Trans. & i Merchants' Tran. & SRR P T P & Woodward & Lothrop pfd. Ex dividend. " Has Branch in C\lil. BALTIMORE, February 28 (Special). —Kemsley, Milbourn & Co., Ltd., for- eign affiliate of Commercial Credit Cos. of Baltimore, has established the Com- pania Cubana Kemsley, Milbourn, a bsidiary, for the handling of desirable time business in Cuba, according to R. R. Appleby, president, who has Jjust returned from a trip to Cuba. Mr. Appleby said that arrangements had already been made for the financ- ing of a substantial volume of good business through the new company. Western Maryland Railway. BALTIMORE, February 28 (Special). —The Western Maryland Railway is one of the few carriers operating in &awmmwrr:nw? to report an g earnings in January, compare the corresponding month last year. Operating revenues were $63,304 larger than they were in January, 1929, while wed a comparative gain of $8,837. The ratio of operaf ex- penses to gross earnings was 66.13 per cent, against 69.52 last year. rlu.n% revenues for the month total $1,562,927, as compared with $1,499,623 for January of last year. BKLVEI( [UOTATIONS. NEW ! Febr 28 UP).—Bar silver, w‘fl%flflm 0%, - FOREIGN. / Argentine 55, Argentine 6s.J Argentine May 61 ed by a favorable Federal Reserve Bank| A Bank of Chile 61 Bank of Chile 6% Rolivar 7s Rolivia 7 Bolivia £ - New offerings today totaled cmly $21,- | Ch Chinese Gov Ry Colombla 6= Jan 61. Copenhagen 414 53 Copenhagen 5s et Cuba 6%s....... Czecho 85 1951..... Danish Munie 8s A, Denmark 4%s Denmark 51 Denmark 6s. . Dutch Bast T 47 E1 Salvador 85 48 Flat 7s ex war 46 German Bank 6s°3. German E1P 6%s German 7s... Greek 6s 1963. Hait! Ttallan Japanese 4 Japanese 6% Jugoslavia Bank 7s Rarstadt 6s 1943 &To'l Netherlands 6s 72 New So Wales 67... Orfent dev 53 5! Orlent Dev'mt 6: Paris-Ly-Med 6i Queensland 7s. Rhine Wst EP 61 §3 Swiss Confed Toho El Pow 6s 32 Toho El Pow 7s Toklo 6%s Itd Kingm §%s 37, Yokohama 6s. o 12 9 RN o PEN RanBN® A 0SoN PIRTITS BaB-nRs 103% 94% 95% 102% 1071% 111 1077% 115% 110 5% 103% 94% 05% 102% 107% 1% 107% 115% 110 5% 5% 115% 121% 89Y% 914 1074% 102% 86% 97 101% 9614 98% 95 964 108% ki T4 954 104% 108% MISCELLANEOUS. Abitibl PagP 6553, Ajax-Rubber 8s Alleghany Cp 63 Alleghany 6s 4 Am Chain 6s33. AmChem 5%s ¢! Am Int Cor 6%s Am Water Wka Am Wrtg Pap 6s 47 Armour&Co 4%s 39 Armour Del 5%s AtIGulf 5869.... Rell Tel Pa 5s B Bklyn Edison b Certn-Td 53 s rets. Chile Copper & Colon O] 6s Col G&E 65 May 62 Com Invest 5%s Consumers Pow 6s. Cuba Care 8s Cuban Am Sugar 8s Duquesne 4148 67, Fisk Rub 8s. Gen Mot Ae Cor 6s Gen Pub Serv § Goodrich 6% Goodyear b5 Hoe & Co 6%m HumbleO & R Bs. . HumbleO& R5%s Intl Match 6s 47 Int Mer Mar 6s. Int Paper 6s 47 ntl Tel&Tal Kendall 6%s Lackawanna Stl 6s. Lacled: % Ligget&Myers MeC'rmick ER Midvale Steel 6 Montana Pw deb Nat Dairy 63%s. 7 102% o 10 1014 5 aBe wnSuhaanSee 828 8om 101% 1031% 10314 025 944 97K 98 854 87 % 984 93y 107% 107% 102y 102% 96% PhillipsPetro 5148, 4: Plllsbury F M 6543 Por Ric Am Tob 6s. 1 Tel & C5%8 ed Stl Car bs. . Pub Serv G 4158 '67 Pub Serv Gas 414 Pure Ofl 53537, Rem Rnd 5% war, . Sinclair O11 Sinclair 011 Sinclair O11 Sinclair Cru; South Bell Tel Southwest Bell Stand Ol N J 4 Stand Ol N Y 4 %s. Tex Corp cv 6u 1944 Transcontl Of United Drug 68 63.. U S Rub 1st rf §s. U S Rub 73, Utah Pow & Lt Utilities Pow 6% Walworth 6s 45 Youngstn S & T § 101% RAILROAD. .11 Atlantic C L 1st 4s. Atl & Dan 1st 4s 43. Balto&Ohto gold 4s. B&Ocviys B&Orf6s wanm Bang & Aroos 4s 51. Boston & Mali Bklyn Manhat 6s. .. Bklyn Un El 68 60. . Bklyn Un El 68 sta.. Buff R & Pitts 448, Can Nat 4%s '57 Can Nat 4%s @ o s e © rranEsRsanaliaiiBa wms CB&Q4%s17B.. CBB&QIlldlv és. Chi Gt West 48 59.. Chi Ind&L ref &s. CM & St P Gen Chi& N Wcond¥s Chi&NW 4%s 1987. Chi Union Sta C&WI1bE%s62. CCC&StL4%s E CCC&StL deb 4% Clev Term 53 Cuba Nor 5%s ets.. Del & Hud 1st rf 4s Grand Trunk 7s... Gt Nor 43%s B. 110% % Hud & Man ref INCent4¥s I11 Cent Chi 4348, .. Int Rapid Trans §s, 92 103% 96% 34 95% 100% 89% 9% 99Y% 95 T 100% Towa Cent 1st 5; Kan City Ft § 4 [Kansas City 8 bs. Kan City Term P 9 eSS 0Pl e 7 . Louts & Nash uni ¢ L&N4%82003 Louls & Nash 7, Man Ry 1st 4 Minn & StL en §s M St P&SSM en 4 MK&TorinbsA. Mo Pacific gen ds.. Mo Pac bs F 7! . Mo Pac 68 G 7! . Mo Pac 5%s 49 evt, 2 Nash Chat& StL ds. » T PYSTOPS - e 110% 90% T 941 102% 0w 280 m2 mavwwaban~ muenInebeaBeloaBanRea a8 227272722222 » Z2Z22Z22Z 5~4<4 “ e Nor & 8 gen 6s 54. . @ Nor Pac 4%s 2027.. Nor Pac rf 6 Penna 4s 1948 stpd. Penna con 43 Penna gen 4 %: Penna 4% = 63 - 121 92% PL Port RL&P 14846, Reading gen 4448 A RIArk& L4348 St L IM&S gn &5 '31 St L IM&S R&G 4s. StL&SFplisA.. SIL&SF4ysTs.. St L&SW con 45 33, StLS Wbss2 StP & KCShL 4 % 2 ~pSmmns Tex Ark F'S §%s Tex & Pc 63 C 7! Union Pag 1st 4 1 105% 7 100% % % 3 89 P 971 107% 2 100% 1 86% 96% 96 91 91y 104 104 93y 934 M 89 97% 96 29% 97 100% 100% 95% 100% 97 931 93% o 8 1001 100% 98 98 8T% 8% 90 90 106% 105% 102 102 101 101 43 34 98% 98y 100 100 101% 101% 92% 85% 91% 58 924 92% 9% 99% 102% 102% 102 102 103% 103% 109% 109% 102% 102% 87 98 97% 85 85% 2% 93% 93% 93% 101% 101'% 99% 99% 841 RN 101% 101% 103% 103% 92 92 108 100% 92% 85% 91% 58 ity Utilities, Have Been Sold During Month. BY CHARLES F. SPEARE. Specia’ Dispatch to The Star. 28 —~Most of discount rates and more abundant sup- plies of capital overbalanced by th pricing of new issues below the market for those of the same type or of the ‘Il;me corporation that were outstand- t has not been difficult to sell high- grade bonds. Nearly all of the new is- sues of this character have been aulckly absorbed and have sold at and held lum s. The main have been the institutions, such as nce companies and savings banks, once more in funds after the November drain, with a certain amount of trustee demand. The movement of these se- curities has been stimulated by the pol- ey of offering them well below the ruling market at which companion bonds were quoted, which has resulted in the reappraisal of old issues of as much as from 1 to 4 points and ex- plains why the bond average has ad- vanced so little when money rates have been so low. Second-Grade Issues. Second and third grade bonds of re~ cent emission have not gone so well. 'y do not attract the institutions. The public and the av bank have not been disposed so far buy them. The individual investor is stili stock- minded and r{m‘m to buy more stocks in the effort to make up his recent losses than to turn his capital into what he considers to he slow-moving securi- ties. The banks, on the other hand, are not yet out of the congestion which resulted from ove, 94% | ibles, 94% 97 93% 65 65 100% 100% 84% 84 931 '93% 92% 92% 2% 2% 9% 99% 102 102 105 105 108% 108% 100% 100% continues for any length of time, and as the banks work out of their collat- eral loans and have no outlet for their 3 pect, future rather than an immediate char- acter, The attitude of the ins iblic st the end of the 103% 1031 | declin 114% 114% 104% 104% 9% 95 110 110 96 96 103% 103% 110% 110% % 1% o 96 98% 98% 96 96 92 92 103% 103% 961 96% 34 95% 95% 100% 100% 891 89w | an 100% 100% 59% 59% 92 92 100% 100% 98% 98% 40% 40% 89% 89% 105% 106% 1064 106 106% 106% 102% 1024 5% T6% 76 1 7% 78 1% 91% 128 106 107 107 98Y% 8 A 100% 100% 6% 96 894 90%, 98 894 90% R 9714 951y 92 122% 128 105% 105% 100% 100% ::% 88 % 8 89 6% 97 107% 107% 100% 100% 86% 864 last were at their acute stage, with no mar- kets for many of these issues. Where a bid was available it was so much below the price at which the bond had been sold that it would have been ruin- ous for the bond holder to accept it. grade issues to leaven the mass of rather and debenture issues now ‘outsianding. The municipal bond market has been affected by the Chicago situation, which compelled the repricing of some of the have been irregular, with early response to the lower rediscount rates, then & reaction and later a recovery, and with the prospect that the March 15 £ .ncing will be at a figure in harmony with the open market rates for money at that time. The Government is now in the fortunate position of being able to refund some of the high-interest- benlnf ‘Treasury notes, vh‘ch it compelled to issue in 1998 and in 1929 at figures which approximate those of -gT ore! bon ve um; well and m“;munly being chased for European account. has been a substantial recovery also in the second and third credit issues of grket m? have run far l;l advance of of common or prefe: : "fin’.‘ the reverse of the dwnmmnm'”;rk{; va a ago. The mainly du’:‘l; -Nenu‘.:(rmdma stocks of finance companies, which in the period between July and October mounted much above any same mont ‘The ever, was an cregse. Included . 83 99% 991 99y | Porting were the following: 2 100% 100% 100% | yRediroad, 2 104% 104% 104% | Baltimore 19 814 81K 81K 101 1014 Atchison T. Chicago, Burl. Ilinols Bangor &