Evening Star Newspaper, February 28, 1930, Page 15

FINANCIAL SHARES FIRM IN LIGHT DEALINGS | z2= Market Becomes Steady After Early Period of Irregularity. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, Pebruary 28—Swinging out of early irregularity, the Curb Mar- ket today steadied as trading progress- ed, put dealings were the smallest of any session this month. Popular Electric Bond & Share, American Su- mower. United Light & Power A and ties Power & Light, formed the bulk of dealings. Northern States Pow- er A wns more active than usual and Duke Power at times was several points higher. The proj to curtail Venezuelan oil production had no effect on the South American oils. Cities Service and Indian Territory remained the most active miscellaneous petroleums, but Cosden, fluctuating in a range of 5 points, was the widest mover. Stand- lld Ofl of Indiana led the Standard ANuNMon of stock control of the Fidelity Trust Co. here by the Marine Midland Corporation, on the basis of 13 shares of the latter for each share of the former institution, created ac- tivity in Marine Midland. Ford Motors, Ltd., featured the mo- tor shares as brisk bidding carried it to a record high following declaration of an initial dividend of 10 per cent and publication of the annual report showing increased earnings. Part of the early trading here resulted from the excitement in the London market. Other Ford shares firmed in early dealings. -Earnings were responsible for the bulge in Celanese Corporation of America. Chain shares in forenoon dealings were less active than in the previous session, but a long list of mis- utility _favorites, such as cellaneous industrials appeared at slightly higher prices, including Otis Elevator, new; Sheaffer Pen, and Re- less issues were lll‘hlly higher (ol.low— ing London cables indicating that the British post office’s rejection of the beam system would mean a loss of only $180,000 a year to the company, whose securities hnve registered a market value of many millions. Eastern Utilities Associates, one of several new issues listed today, opened at 40. Other new shares included Clay- ton & Lamber Manufacturing Co., Ferry Qp and Screw Co. and Hart & Oooky DIVIDENDS DECLARED. NEW YORK, February 28 (#).— Regular. Pe- Pay- Hidrs. of eco; Rate. riod. able. bezeu BRGHE. BN 3 Ll 3 RRANgT > BERRER SRR 1 %8 a8 H Ausf'~ Mot Ltd pt lza-nm' £ ’E Motor Ltd, ,ll - rie i 8 fm. PR Reduced. Hywd-Wk 1st of.5175 SA Mar. Resumed. Austin Motor Lid..20% Cabital Distribution. Nenauitt Mills........85 ., Aor. ' Liquidating. +.347.17 .. Mar. 3 Steek. 1% Q Apr. Omitted. 105 T : & B da e Peb. 15 Alretocks Inc. Peb. 28 Backstay’ Welt.. Eahuky Sugar ares BANK CLEARINGS. NEW YORK. Febraury 28 (Special) — New York bank clearings today, $1,224, mm & year ago, $2,216,000,000. Ne: bank balances today, $165,000,000; llo $189,000,000. New York Reserve credits today, $144,- 000,000; a year ago, $176,000,000. 1 Mar.20 BONDS ON THE CURB 3 5 g::*g:a el 2 ' Pl et B55wd aur, Sl O o P Ll PN Tors 202 2ope :5: 3 3 H T o'Vo e e yL AN JeSee: sE3eSgeessnnesy g >, i Aot R anza0 Ba<2"0pw C) 9 5 3 395 2] " 5 - LS oo Q0 o L BBusscnibbaiobrtmibrsution it Barl s sorssiatrgri B B weoorilln s wESa i L) 8k PCHURITIPVPORTOR 5 NEW YORK CURB MARKE Notice—All stocks are h.’u in one hundred-share those the l-“. s (“I) (285s), which shows those stocks —‘ lots enly Stock and e e 15% Klein (H)pt pf $1.20. % Kolster-Br (Am 8h). 10% Lake Superior Corp. 14% Lefcourt Real 11.85.. Lefcourt Real pf (3) Lehman (The) Corp. uny MeNeil & L. deb rts. , new (8 Loulstana Lan & Ex. % Magdalena Syndieat. Marine Mid Cp (1.20) Marshall Field & Co. Mavis Bottling. . Mayflower Asso (12) Memph Nat Gs Mer Chap & 8(1.60) .. Met & Min Ine (1.20) Met Chain Store: Mid WstUUl (b8 %) . Allegheny Gas Allled A"-MM Allison Drug St All Amer Gen Am Brit & Cont. Am Br B El fd sh, Am Chain (3).. 4 Am Cit P&L A ( Am C P&L B (bl10%) 23% Am Cwith P A blog,, % Am Control Oil Fids. {gu Am Cyanam B (1.60) 1% 6% 65% 1425 113% 8O BRmRERER O Am For Power war. ., Am Gas & Elec (31).. Mid Royalty cv pf 3. - Midld St1 P 2d p£(2). Miller & Sons (2)... Miss River ' Cp war Mountain & Gulf 8c). Mount Prod (1.60). . Mo Kan P L (b10%). Am Super 1t pf (6) Am Superpower (1). Am Yvette (new) " 4« Anchor Post ¥ (2) 12% % 4% 84 106 105 Nat AmerCo....... Nat Aviation. Nat Dairy P pt A(‘I) 4 Nat Investors (new) [T USSPy ATk Po& Lept (Do 208 ass0-Dyeing & Ptg., Asso-£Elec Ind Ltd. .. As30 G & E A (12.40) Neptune Meter (2).. Nestle Le Mur...... New king Pow pf (§) 140: New Jer Zine (14)... New Quincy M (10c) wmont Min (34).. Newport Co (2)..... N Y Invest (1.20)... N Y Tel pf (634).... Niagara Hud P(40c) Niag Hud Pw A war, Niag Hud Pw B war. Niagara Shares Md... Niles Bement Pond.. Nipissing (30c).. Noma EI Cor (l.“). . 345% Noranda Mines (3).. 5% North Am Aviation. 3 North Am Cement North Cen Tex (60¢) 183% 170 North St Pow A (8).. Ohio Brass B (5). ©Ohto Copper. . Oho Ofl (12 Otis Elevator new. .. Motor (B). Sec (1).... Pac Coast Bis pf 3.50 Pac Puh Serv (1.30).. 4 Atiant Fruit & Su 66l Atlantic Lobos. Atlantic Lobos Of] pt Atlas Plywood (2)., Auto Music (A) (1). Auto Voting Mach Aut V My prpt (2). Aviation Corp of Am Aviation Credit..... 7% Aviation Securities 3% 1 124% 105% 32% 24 2T 22% 70116 114 17% 11% 5% 3 P N e T [ 12 27% 1% Bah: o ahia Corp. 12 Bellanca Afr Bickford's, Inc (1) Bliss Co (E W) (1. Blue Ridge Corp. . Blue Ridge cv pt (a3) Bohack (HC) (2%). Bourjois, Ine (1).... Brazil Tr & Lt (2) Bridgeport Machine. Brill Corp B.. Brillo Mfg A (2).... Brown F&W, B 2.40,, Buf Niag&EPpt 1.60. Bulovacvpf(3%)... Bunker H&S (16%) Bureo, Ine....... Burco, Inc ev pt (3). Burma Corp (T31¢).. » R TTTASISTISE-PRY - - FAVSIN - Cable Radlo T vte. Pennroad Corp. Pepperell Mfg Co 4 Petrol Corp (1%) Philip Morris In Pilot Rad T A (1. ] AR Pines Win Ft n (31) . Pitney B P n (20c; Cent PSv A (aL76).. oI 3y, Cent Public Service. Cen States El (340e) Centrifug Pipe (60¢) Chain Stores Stock. . Ches & Ohio (new).. Citles Service (330¢) Citles Serv pf (6)... City Mach&Tool(12) Clark Lighter A..... Clev Kl 1llum (1.60). Colgate-Pal-P (2%). Columbia Fictures. . Com'witn kdison (3) Comwith & Sou war.. Com Wat Ser (b§%) Comstock Tunnel, .. CA MCoetfs,. . Consolidated Coal... Consolidated Copper ¢ Con Gas, Baito(3.60) Con Gas Util,A(2.80) Cons Instrument. ... Cons Laundrie Continenta] Oil. Coon (WB) Co(2.80) Copeland Prod Inc A. Prudential Inv, Pub Util Hold w. Pug SP & Lt pf (6 Radio Prod (50).. Ry & Util Inv (A)... RainbowLumProd A RainbowLumProd B Red Bank.......... Reiter-Foster (40¢). Rel'nce Managemnt.. Republic Steel n wi. Rep Steel cum pf wi. Reynolds Met n 2.40. Roan Antelope Min. . Roosevelt Field. Ine. Ross Stores, Ine. . Ruberold Co (4).. St Regls Paper (1).. Salt Creek Con (40¢) Salt Creek Prod (2).. Schiet & Zan (1%).. Schlet & Zan pf 3%.. 5 p e Bhiy ° - - dus SelInd allotefsb%. Sentry Safety Cont.. Sheaffer Pen (12%) Shenandoah Corp... : nan Corp pf(as).. Cosden Oil pf (7).... Coty Soe Anon rets. . - » CNH R AR AN AN DO SR R NENEa® i » eeReme IR enmanamaneERanan Cusi Mex Mining.... 7% Darby Pet (1), . Davenport Hos Dayton Air & Eng. D'lrl & Co new w.§ ‘est Radio. Doriy Ofl & Refin, Detroit Alreratt C¢ Distillers Corp. Dix Gas & Utilities. Doehler Die Casting. Douglas Aircraft 76e Dow Chemical (2)... Dres(SR)MIg A 3%. Driver Harris(new). Dubiller Cond&Rad.. Duke Power (35). Durant Motors. EastGas& F Asso.. East Sts Pow B (1).. Eastern Utll Inv A, Etaler Elec (1.50).... % El Bond & Sh (b6).., El Bond & Sh pf (). % Elec Pow As80 (1)..; Elec Pw Asso A (1).. EIP&Loptwar.... Elec Sharehldg (31). El Sharehold pf (6).. Empire Pwr Corp(2) Emp Pub 8v A(1.80). Engineers Gold. ... Eng P 8 opt war. Europan Elec (The). » T PR-TreS 1 Starrett Corp SteinA&Co cu pt 6 Stinnes (Hugo) @ S T Swift Intern’l(2%).. Taggart Corp (1).... Teehnicolor, Inc. ... Texon Ofl & Land. . Thermotd Co (2). % Tobacco Pr Exver\l. Transamer (31.6 2'ran Con Alr Trai Tr-Luz DL P8 (A). Transcontl Oil (30c) Tri-Continental Cor. a3 Tri-Cont Corp (6). rp Fairchild Aviation. Fajardo Sugar. .. Federal Screw (3)... Financial InvN Y. Fokker Alrcraft. . Foltis Fischer Corp. Ford Motor Can A... Ford Mot of France. Ford Mot Ltd (50c). Fore D Pr pf (1.60). Fourth Nat InV....e FoxTheatClA..ccm Garlock Pkg (1.30).. General Baking..... General Bak pf (6).. Gen E Ltd rcts (50c) Gen Gas & El (A) g FoBrBanannurmn Heuane® o 17% 26% - P TR Utd Carr Fastar United Corp war. Unit El Ser p Utd Founders (b3.35) 9% United Gas Co. Unit Lt&Pwr A($0e) Utd Lt & Po pf (6)..; U S Elec Pwr ww. USFoll B (1).. US&InSctf (34).. U S & Int Sec 3rd pf. US&Int Seclst pf(5). U'S Lines pf (1) U S Shares Fin. Unit Verde Ext (4). Utah Metal & Tunnel Utility Pw & Lt(al). Utility &1nd... Ut & Ind pf (1%).0 Utility Bquities. ..., Vacuum Ofl (t43%).. ‘Van Camp Milk pf... - 285 4% 33% 12% ~»m/. Gleaner Com Har(2). Glen Aiden Coal (10) 16% 11% Globe Underwrite: % 2% 7 3 4% 36 35 30 254 230% 122 115% 27% 24% 29 28% 18% 12 8% 3% 374 10 22% Gorham Ine pf (3). GrA&PTnv(5) Gr A &P Tea pf (7). Ground Gripper (1).. Gunther Law (2).... Hazeltine Corp (1).. Hecla Mining (1). Hudson Bay M Hormel (G) (12). Hydro Elec Sers 12), Hygrade Food Frod. Imp O1L Can (50¢)..» Indian Terr [lum, Insull Ut lavlb.i)u Insuran Vogt Mfg Co (2). Waitt&BondB(1.40), 8.5 » vanBuBar wempe 20% 17% Zomite Prod (1.60)... RIGHTS. Expire. % ChiRT & PacRy.... 8% Con Gas Balt 'A Ell\ll‘ Elec. portCo. . 'm New E Eng Tel&T..Apr 2 19% Pac Tel&Te! .Mar 31 .01 Trans Corp. Irving Air Cb (1. italian Superpow A, Italian Superb wa Jefterson Elec (3). Jonas & Naumbupg. . THE EVENING STAR, WASHINGTON, Ressived by Private Wire Direct to The Star Office % | at Chicago, 20% 8 84 w LB 2 116% 120 31% 31% 26 26 115 115% 15% 16% 4% 4% 10 104 16% 15% 38% 384 % 1% 14 14% 41% 42% % | hea 61% 2 109% 109% 1 | 4; October, old, 1! % % 181% 19% 4% 35 London, pound D. C, FRIDAY, FEBRUARY 28, 1930. FURTHER GAIN SEEN == |IN STEEL INDUSTRY Iron Trade Review Says Com- panies Expect New Spurt in March. Iron and steel markets continue to * drift, with a slight touch of dispirited manner this week, says Iron Trade Re- view, Cleveland. The railroads are pro- viding noteworthy specifications, es- | pecially at Chicago, but are making few fresh commitments. Automobile pro- duction is lower. Building shows up better in inquiries than awards. Easier money conditions have failled thus far to mature important pipe liné projects. ‘Whatever increase February has de- veloped in pig iron and steel ingot pro- duction—and the prospects are next week's statistics will reveal a moderate one—is due chiefly to the sharp im- rovement early in the month and the getvv backlogs of railroad business at Chicago. Deliveries are being extended but mills at Pittsburgh, Buffalo and Birmingham are barely holding their own, while at Youngs- town lnd Cleveland operating rates are slightly lower. The spurt of late January having flattened out, the industry now looks to late March or early April to develop another. Even moderate retail demand for automobiles will be reflected in fac- tory schedules, as no stocks are being accumulated. The usual Spring re- % | quirements for iron and steel for out- door purposes seem certain to provide some impetus. Hopes of a steady up- ward march have been dissipated, but an upturn comparable to the Spring of 1927 or 1928 is not improbable. Some interest in second-quarter ma- | terial is manifested. In pig iron, a few sales have been made for that delivery at current prices. The first second quar- Mr sheet inquiry is out at Detroit. Unless ifications for finished steel rise ly in the next two weeks—and there are no indications of this—the carry-over of tonnage into the new quarter will be comparatively heavy gnd may handicap producers in their ef- forts to advance prices. Tin plate demand is surprisingly Many consumers of cans have reordered, and some imporunz manu- facturers of tin plate are booked prac- tically full- throu~h the season, into June and July. It is apparent that the urly advent of Winter last November has depleted stocks of canned goods. Struc- tural steel awards this week totaled about 36,675 tons, compared with 34,- 405 tons last week and 34,500 tons a year ago. Probably 4,500 freight cars are pending. Sharper competition for pig iron business in March is indicated by furnace interests’ lack of orders to 3 | MY them through this quarter. Iron Trade Review composite of 14 leading iron and steel products has gone through the last week of January and the four weeks of February un- changed at $35.24. Last February this | index averaged $36.28. —_—s. GRAIN MARKET. CHICAGO, February 28 (#).—With indications that Government sponsored agencles are taking a decided stand in regard to supporting the wheat market, wheat prices readily moved upward to- day. Contributing to this result were ! Wlnn!pe‘ advices that legislation would enacted to enable Canadian pro- vtnclll authorities to guarantee bank’ loans of the Canadian growers’ pool. Announcement was also made that Argentine and Australian shipments for the week were only half as much as was the case at this time last year. Wheat closed unsettled at the same as yesterday’s finish to 27 higher. Corn closed 3 to 1% up, oats % to 12 advance and provisions unchanged w a setback of 2. EAT— ND “LOSSES™ Revenue Bureau Prepares to Scrutinize Income Tax Returns Closely for Evidences BY J. C. ROYLE. In making out income-tax returns business men are taking more pains toward accuracy than ever before. The Bureau of Internal Revenue will scruti- | nize returns, which must be in now within a little more than a fertnight, with the utmost care. ‘The bureau is closer to catching up with its work than at any time since the income tax was established and can devote more time and attention to discovery and punishment of violations than in the pas ‘Then, too, !.he wild flurry of stock speculation in 1929, in which people in every walk of life wm engaged, has lent itself to attempts to “beat the Government.” Such -mmpu are not likely to_be successful, according to bureau officials. “Wash” Sales. During the latter part of October and in November and December, the bureau says, it was cognizant of a volume ,of “wash” sales, which, asserted, were for the purpose of emnu‘hm losses as “realized” within the meaning of the statutes on taxa- tion permitting such losses to be de- ducted in proper amounts from gross income. ‘The bureau has not announced its procedure in punishing improper at- tempts to secure deductions, but it is evident that the taxpayer must assume the burden of proof, showing in each case that the transaction was bona fide. ‘The bureau has not solicited informa- tion revealing attempts to dodge taxes on the part of others, but is receiving such information in large volume. Many of these communications are anonymous and come in much as did FINANCIAL, 'STOCK AUCTIONS, WASH SALES * WILL BE PROBED ‘ Of Fraud. the old “tips” slipped into the so-called lion’s mou‘:'h in Venice in the days of the Doges. Boasts of how the Gov- ernment has been misled are likely to have serious after effects, the bureau indicates. Many who have had dealings in stocks and bonds have a feeling, it is) indicated, that it would require years for audits to endanger them. The bureau denies this. Returns will be! va a more careful first scrutiny than | n the past. If the figures give a hint | of fraud, the investigation will be con- | tinued at once and pressed to conclusion. “Stock Auctions.” “Stock auctions” at which thousands of shares of stock have been trans- ferred where the seller and buyer are believed to have been one, have been ven marked attention by the bureau. ices, it is said, have been established by these auctions which would allow tremendous deductions for “losses” on the part of taxpayers. ‘The bureau investigations show uut these auctions have been held in all of the coun! and t all sections, it is ed, were giving orders up to December 31, when the mex A_1S OUTLOOK IN STOCKS: DECLARED BULLISH Authorities Believe Market: Will Show Improvement Over Long Period. Many stock market authorities be- { ileve that the reactionary price tenden- | cles that may occur from time to time . in the present stage of the mrket offer opportunities for ~additional long-pull.. commitments, and they emphasize that from the long-pull standpoint little significance should be attached by in. vestors to week-to-week variations quotations of good common stocl - according to Gage P. Wright, New York economist and president of the Business Economic Digest. 3 “The movement of averages to a somewhat lower level has practically no unfavorable significance and our weighted average of authorities’ o] lons continues to maintain a llish position for the long pull. Nevertheless, says Mr. Wright, ‘the fulfilling to some extent of the expectations of numerous.« observers to the effect that stock prices should react because they had over--. discounted the ‘mprovement in bus! ness and investment confidence is likel: to relieve the mrkez a whou from a year 1929 calculations closed. These | has auctions, it is known, have been held as far west as Kansas City. Leakage through evasion might cause the amount due the Government from income taxes to fall well below the sum counted on by the Treasury Depart- ment. The importance of the investiga- tions may be realized by reference to President Hoover's recent warning that additional appropriations beyond those specified in the budget amounting to '1501:1})‘0000 would leave the Treasury “in’the red. (Copyright, 1930.) STOCK POOL USED MILLIONS IN PANIC 000,000 to Avert Market Disaster. Special Dispatch to The Star. NEW YORK, February 28.—Since the dissolution of the bankers' pool a few days ago efforts have been made to discover when stocks in this pool were liquidated, following the purchase of 1 approximately $100,000,000 of various issues in the October and November breaks. From information received from sources identified with the pool it may be said that more than one-half of the stocks held—and these were notably United States Steel, General Motors, General Electric, American Telephone & Telegraph and Anaconda—was re- The high average of stock prices be- ;ween medd.i wl;:n the p'zolnsu‘;te; uying and when n quidal was reached on Decebx:\gr 7. Around of the stocks By ber it had sold about $60,000,000 of the | total of $100,000,000 purchased. Owing to unfavorable market condi- tions liquidation was suspended during the first half of January, as it was in this that average prices went well below those of December. There was considerable fear then that they might duplicate those of November 13. With better business conditions, how- ever, the market began to rise from about January 18 and moved upward with but little check for nearly a month. This afforded opportunity to the pool to liquidate the remaining $40,000,000 of stocks held. The final selling came ‘about coincident with the new high average top for industrial and railroad 1# | stocks two weeks ago. | B tenber NEW YORK COTTON. NEW YORK, February 28 (Special). —On a slight increase in Southern selling, cotton prices were down 2 to 9 points at the opening today. Local buy- Lnl nearly offset the selli; Open prices were: March, 15.19, off §; May, 15.50, ofl 2; July, 15.74, off 5.90, 2; October, new, 15.75, off 4; December, 16.08, off 6; December, new, 15.86, off 6, and January, old, 16.10, off 9. FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs Nominal gold Selling Se value (or today. .54.8 foay 103914y 1393 12385% ‘0524'2 29 12676 12674 12683% SHORT-TERM SECURITIES (Reported by J. & W. Seligman & Co.) Allis-Chalmers Co. 58 19 lum. Co. Gudahy 5 s et G Goodyear Gral G Ofl of Par Humble Oil 5%s 1933, Inlernull M Phillipe lfi Furs O1 Gorn, gag m'l ell Union inclair Crude on 1937, w & 1047 b B 9 - it 1932, 1% | Bhion &1, *8r 'Cal ‘.T::E'%‘n"tfl' ok, TSR B el pited Drus Co. S 1 West Elumc Co. o Wheeling isel &6 TREASURY CERTIFICATES. (Reported by J. & W. Selizman & Co.) te—Maturity. Shan Mar. 118, "To30 478 June 16 1930 s Bept. 15, 1 308 B 9 NEW YORK sfl& STOCKS. NEW YORK, February 28 (#).— Bank Trust Companies. Bankers . Cent l-lllwver k & Tr United "Btates No official flrures on the amount of the fund placed at the disposal of the pool managers, J. P. Morgan & Co,, last Fall have ever been made public. But unofficial estimates by well in- formed bankers indicate that the total | was not far from $200,000,000. It also is known that the pool never drew upon more than one-half of the maximum umlmm. pledged by the members of the pool. In other words, the actual stake of the pool in the stock market at no time got above $100,000,000. This was a small sum compared with the vast turn- over in the market. The only other comparable pool or- Slnlud ln Wall Street was the $100,- 00,000 gold 1 created in 1907 under the sponsorship of the elder Morgan to stay the wors! bank panic New York had experienced in years. Those were pre-Federal Reserve days, when em- barrassed institutions had no central bank to fall back on if cash was needed in a hurry. The Morgan gold pool was an uenufllcm central bank for the mo- ment. ‘The Morgan pool of 1929 was not only lnr‘er than that of 1907, but it was organized for a different purpose. There was no question last October.of the liquidity of New York banks; they were in a sound condition. The panic was in the stock market. The Morgan 1 was organized to stabilize the mar- et and so end the disturbance. That it did. Probably the psychological ef- fect of knowledge that the pool existed helped to restore confidence, but what more than anything else effected ulti- mate stabilization was the agtual buy- ing Gperations of the pool. It was not organized for profit, but to minimize uurm and “encourage investment buy- ing.” (Copyright, 1930.) e PARIS BOURSE PRICES. PARIS, February 28 (#).—Pri chn.n'u ‘were irregular on the Bourz Three per_cent rentes, 87 francs 25 centimes. Five per cent loan, 101 francs 30 centimes. Exchange on London, 124 francs 2715 centimes. The dollar was quoted at a3 francs 571 centimes. o iree years m.n (y‘ ago, weekly aver. . (Copyright. 1 Bankers Had Stake of $200,- | distributed before the end of December. | g, TODAY’S STOCK AND BOND AVERAGES By the Associated From Yesterday's 5:30 nmu. STOCKS. 50 Industrials. 1786 Wholesale Market Butter—One-pound prints, 38a39; tub, 36a37; store packed, 18a20. Eggs—Hennery, 28; current receipts, 27 Poultry, alive—Turkeys, young, 32a33; old, 28a30; Spring broilers, 37a38; Win- ter chickens, 32a35; fowls, 27a28; Leg- horns, 30; ducks, 15a18; capons, 32a3! keats, 60a65. Dressed—Turkeys, young, 35a38; old, 32a35; Spring brolers, 40a42; Winter chickens. 37a38; fowls, 32a33; Leghorns, 32; ducks, 30; capons, 35a40; keats, 80a90. Meats, fresh killed—Beef, 20a23; veal, 28a30; lambs, 23; pork loins, 28; fresh hams, 26; fresh ahoulflen 20a23; smoked hams, 28; smoked lhouldm. 22; bacon, 28; lard in bulk, 13; ln chklles. 131 Live chk—Cnlve!, 8a13; lambs, 108 13; Spring lambs, 20a25. Fruit and Vegetable Review. The daily market report on fruits and vegetables, compiled by the Market Ne Service, Bureau of Agricultural Eco- nomics, says (sales to jobbers except ‘where otherwise noted) : Apples—Supplies moderate; demand | light, market steady; barrels, Virginia, U. 8. No. 1, 21, inches up, Staymans, badly scalded, 4.00a4.50; Staymans, U. No. 1, 2% inches up, badly scalded, ! 5.0085.50; boxes, Washington, extra fancy, ‘medium to large sizes, Delicious, 4.00a4.25; Winesaps, 3.00a3.15, mostly 3.00; bushel ts, Virginia, U. 8. No. 1, 2% inches up, Black Twigs, 1.50a1.75; Yorks, mostly 1.50; 3 inches P, Ym'h 2.00; Pennsylvania, U. 2% inches up, Yorks, 1.40; Baldwhu. '150; Northwestern Greenings, 1.75. Cabba; -New stock, s pllu llgh! demand light, market dull; Florida, 1%z bushel hampers, pointed type, 2. 5!3 00. few higher; old stock, supp very light; demand light, market steady; | 100-pound baskets, Danish type, 3.85a4.00, mostly 4.00. Celery—Supplies modenu' demand | light, market .uwdy, Plnl'idl 10-inch crates, all sizes, 2. Let! ee-—suppuu light, market steady; California, crates, Iceberg type, 4-5 dozen, 3.00a3.50; some slimy low as 2.00. has made by prices, constitutes the usual “ period following a ‘stock decline of major proportions wherein the patiencé™' of the investor is likely to be severely tested; he desires to make new commit- ments, yet is constrained in doing so until the outlook s definitely clear..” Repeating a statemsnt recently made in the Digest, although it matters little over the longer term whether approved... stocks are purchased at a variation of a few points either way, it is the attitude.. of demanding too positive wnnrm-tlon of the direction prices are taking that m costs an investor many potnu “The current period of recuperation, it is pointed out, is a particularly appro- .; D ot et e e cl . and far . e e ce today as have throughout economic i other words, mnny investments that D!!- sid haps a generation ago could be rated - highly eenurvnclve have been uup-‘ planted by others, rpntin; this for« possible ldvnnunou action of a time such as lh:fiunnt 1t is meant thlt one: should be willing to make shifts involv- ing temporary paper losses’ in e reasonably to assure the nm.mlte desir= lble goal. Thus, investors may Au\mg @ position of moving with the economi current instead of against it. Ro '.ln;b ble trend is so tnnon.nqumu-l as not to - warrant evaluation as a possible : fluencing factor.” Stock Increase Planned. ' Wm. Gordo.? Buchanan Onions—Su| lias ll ht deman 3 lows, U. .No 1, lln nm medium to lar; | rado, 50-pound sacks, Valencia type, | very large size, 1.75a2.00. | Potatoes—Old stock, supplies moder- | oy Ty A e, 150-pound sacks, Green Mountains, U. 8. No. 1, 4.40a4.60; 130~ | pound sacks, Green Mountains, U. §. No, 1, 3.50a 3.65; new stock, aupFlles luh demand "slow, market dul hushel crates, Bliss Triumphs, U. S. Hu, 1, 2.75a3.00. Sweet potatoes—Since Tuesday’s re- port, supplies moderate; demand light, market dull; East Shore Maryland, bushel hampers, Ye]lows No. 1, 1.25a 1.40; showing de 50a1.00; North Carolina, b 1 hampers and bushel baskets, Porto Ricans, No. 1, mostly S omatoss.-Suppiis ‘oma up s light; demand light, nflrkfl ; Mexico, lug boxes, ripes d_turning, wrapped, 5x6 and | ; Florida, 6s, ripes and turning, n.ncy ceount, 5.00. strln belns—aupplles light; demand light, market firm, Florida, bushel ham- pers, green, flat type, fine quality and Bondluon. 5:!5 .00; round type, most- 1y l;ruund ‘eppers — Sup light; demand light, market firm; Florida, pep) cr;u:, fancy, 6.00a6.50; choice, 5. g‘ Squash—Supplies light; demand light, market steady; Florida, bushel ham) .l'l, white, wrapped, very large sizes, ?' Peu—supplles light; demand lig! market firm; Mexico, 45-pound crates, 5.25a5.50. c-rrow—-supplies modente demand light, market X te: 00 ordinary lies tuce crates, bunch quality low as 2.25. Beets—Supplies moderates; demand light, market dull; Texas, w:mm let- tuoe cnm 'Iflxg&ha?“ - h .75, pp! ig] demand H‘ht mnket steady; !lmmla and In- diana, 2-dozen cartoons, extra fancy, 3.00; fanc; 2.50; showing decay, 2. stnvberrlu—suppllu modenbe: de- mand light, market steady; Florida, pony refrigerators, various varieties, 40a45, mostly 40; few poor condition, condemned 32-quart crates, various varieties, some falr condition, 25240, per quart, Conneflo:-_ & Bnemm ' National 6110.6] (Telephone ommv-l 'gfl{'fi"u Established 1899 INVEST YOUR FUNDS IN First Deed of Trust Notes Bearing 61,9, Interest In Denominati 425000, $500.00 304 "$1.000.00 Consutt WELCH Reattors Loan Specialists Nationa & Trust et . T Rt ate 16t & N- ¥ 1851 e msu,;,,,,é“” Pittsficld Mass. @& A Standard Low Prelnilm Policy Business and Profmlonal Men" First Mortgage Loans In Ariington County and Alexandria, Commonwealth Investment Co., Inc. 500 15th St. N.W., Phone National 2623 M, Loan Correspondent for tgag The Prudential Insurance of America 0. Kitchen, Bath and Reception Room, Electric Refrigeration THE ARGONNE 16th & Columbia Rd.