Evening Star Newspaper, March 14, 1930, Page 14

[VA=I4- *¥ FI MERGER OF STEEL FIRMS IN BALANGE Cyrus S. Eaton Principal Fig- ure in Battle Over Youngs- town Company. BY JOHN F. SINCLAIR. Special Dispatch to The Star. NEW YORK, March 14—The Beth- lehem-Youngstown merger fight is a long way from being settled. Those opposing the merger believe that the move will spell the doom of the Youngs- town corporation as a local institution, directed and controlled locally—that it ‘will become just another pay roll center, directed and controlled from New York. ;‘Thfl factor looms very large in the ght. It happens that Cyrus S. Eaton of Cleveland has his Republic Steel head- quarters at Youngstown. That is why the Mldd)e-w!swrn point of view center around Mr. n, but the fight for the moment is really between the independ- ents, centering at Youngstown, and the Bethlehem Steel, centering in New York. From a close checking of the situation to date, it looks as if Cyrus S. Eaton ‘mnd the Middle West group Lave already sufficient votes to block the merger. ©Of the 1,200,000 shares of Youngstown stock outstanding, it will take two-thirds of the stock—or 800,000 shares—to put over the merger with Bethlehem, but only 400,000 shares are needed to block it. And unless strong pressure is brought to bear on Cyrus S. Eaton of Cleveland and his associates to change their minds, the outlook for Bethlehem at the stockholders’ meeting of the Youngstown Steel & Tube Co. in April is not favorable. Thousands of newspaper columns from London have enabled close readers to follow the London Naval Disarma- ment Conference. ‘To a busy man, how does it stand to- «ay? Candidly, it looks pretty bad. France entered the conference, de- manding a huge increase in her tone nage, concentrating in submarines. Italy came forward and demands parity —whatever that means—with France. English policy, around which the whole conference revolved, wanted the battle- ship eliminated, but with world trade in mind, demanded more cruisers. The United States, not interested in cruisers, but thinking battleship terms, couldn't see this. France turned to England and the United States and said, “All right, you think we are going to build too many warships, agree to some program to protect P‘nnce lnlrm: invasion. Otherwise, we build. The United States Ind England, with- —an 1030~ Lot THE EVE NING STAR, NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct t- The Star Office. (Continued From Page 13.) — ————— Stock and . 23 26% 30 38% LouG&ElA (1%).. 1 82% Ludlum Steel (2). 92 McCrory pf (6) 61 28 Mol 44% McKes & Rb pf(3%). 70 Mack Trucks (6) 45 Magma Copper ( 8 Mallinson & Co. 25% Man Elec Supp! 8y Marlin Rock (4% 20% Marmon Motor (2) 8714 Mathieson Alkill (2 49 May Dept Strs (n3 16% Maytag Co (13) 29% Maytag Co pf (: 264 Melville Shoe (2) 154 Mengel Company 16% Mexican Seaboard. 26% MiamiCopper (4). 231% Mid-Continent P (2 % Middle Stat. 37 Midland Steel (3).... 18 90 Midland Steel pf (8). 2 3% Miller Rubber. 1 o BanmpsSetvavanamane . Net RS 25% Bates— Dividend Rate. Add 00. Blgh. Low, mu;..“ 9% 182 26% 43% Bt Dividend Rate. Ada Sinelair Con Skelly Ofl (2). 1t Solvay Am In pf § So Por Rico Sug (2). Southern Cal Ed (2). Spalding(AG) (3) Spang-Chalfant Sparks Withngtn. » 2 )., Stand Br nds (1%). Std Brands pf (7)... 5 Stand Comm Tob. i Stand Gas & El (33%) Stand G& Epf (4).. Stand O of Cal (3%). Stand Oil Exp pt (5) . Stand OIIN J (12).. Prev. o 13 1 42 12 390 Stand OIIN Y (1.60). 115 Stand Plate Glass... 2 Stand Plate Glass f. 20s Starrett (LS) (12%) 1 Sterling Sterling Sterling SeoA...... 49 Secpf(1.20) 6 Sec cv pf(3) out hesitation, replied, “Nothing doing.” So there you are. Edwin L. James, newspaper observer, makes the statement that if the French stand on their figures, the British figures must be increased about 20 per cent in cruisers, 25 per cent in de- stroyers, 50 per cent in submatines, an increase of 140,000 tons over the Hoo- wver-Macdonlad “Rapidan” figures. “If the American: wish to match these increases, there can still be & treaty,” says Mr. James. A treaty to increase, not decrease armament, is !whlc the conference amounts to so far. “The operation was successful, but the patient died.” MahatmaGandhi, India’s popular lead- er,on hisfateful 20-day journey to the salt mines at Jalalpur, with his 79 disciples, challenges the government of India— the British government—to arrest him for civil disobedience. - British business men are watching every move he makes. 8o are the edut;afi: menw::lwl‘;\dl)r- and the millions W cast For India’s crucial day is approach- tngA will the British government per- mit civil disobedience? If not, what will happen? India, with its 319,000,000 people. is larger in area and in populnlon than the whole of Europe, Russia only ex- cluded. Seventy per cent of its le live in the country—a rural, simple ing people, largely illiterate. um t Britain has a well British Army of 60,000 men in India in addition to a native army of 167,000 men—not many, but more effective than !nghdh' prroblm ‘:mw as always, is & ndia’s 3 problem of food. Life is primitive, famines and scourges are frequent, public health campaigns few in com- nnn to the whole of the people, and the limate . 's a land ful n( contrasts and con- tfl tions. Britain entered India largely for business reasons. She stayed there for those same reasons. Now India demands that she get out and give India independence. India’s trade today with the United States _exceeds $200,000,000 annually. She sells to United States about $150.- 000,000 and buys from United States goods equal to one-third of what she aends to us. Extremely rich in forests, iron ore and agriculture, the outside world today clamors for her surplus wheat, rice, cotton, oil seed and jute. The world in exchange gives India -manufactured cotton, yarn, metals, machinery, sugar and oil. For centuries India has been the strongest magnet in the world for gilver. Now it’s gold she's attracting and the world feels the pull. But India today—what of it? The political and business sky is overcast— dark, foreboding. Mahatma Gandhi, this frail, anemic looking, unimpres- sive man, who commands more follow- ers than any other world leader, is de- termined. He wants independence. He demands it. And he is willing to pay the price—death, if necessary. Great Britain stands firm. She has had many crises in her history. But never before, not even during the Indian mutiny of 1857, has the British politico- economic outlook in India n S0 stoutly challenged. Miss Frances Perkins, State industrial commissioner of New York, in announc- ing that the index number of employ- ment in the representative New York State factories for February is lower than any other February in 16 years. again takes sharp issue with the Federal Government leaders. 88% Montgomry Wrd (3 3% Moon Motors. 58t Morrell & Co 81% Morris & Essex (Hfi ‘200. 1% Mother Lode (40¢c).. 4 4% Motor Meter G& E.. 1 50/ Motor Products (2).. 264 Motor Wheel (3). 124 Mullins Mfg. .. 3 57% Mullins Mfg pf (1).. 508 18 MurrayCor(b2%stk. 18 856% Myer(FE)& Bro (2). 45% Nash Motors (8 a Natl Dept St Nat Distille 271 Natl Enameling ¢ National Lead (18) 1384 Natl Lead pf A (7) Natl Pwr & Lt (1) 100 N ¥ Steam pt (6) 60s 110 N Y Steam 1st pf 40 226 Norfolk&Westn(10). 83 Norfolk&Wstn pt(4) 20s 93% North Am(bl0%stk) 42 100% North Am Ed pf (6). 85% Northern Central ( 84 Northern Pa 82% North Pac et 42 Northwestn Tel ( 9% O1l Well Supply. 18% Oliver Farm Equip. 313 Olivr Fr Eq ev pt(3). 70 Olivr Fr Eq pf A(6) 2% Omaibus Corp. .. 280 Otis Elevator (2%). “9% Otis Elevator n(2%) 118% Otis Elev pf (6). 301 Otis Steel (23%) 17% Pacific Coast 1st pf.. 20s 16 Pacific Coast 2d pf.. 40s b2% Pacific Gas & B 42).. 19 72 Pacific Light) 20 1 Pacific Ol stubi 150 Pacific Tel& T (7)... 16% Packard Motor (1) 48% Paramount-F-L «4). 256 Park & Tilford (33). 17% Parmelee Trans 1%.. 93% Pen (JC) ptA 6 n Dixie Coment. nn Dixie Cemt pf. . 72% Pennsylvania RR(4) 230 People’s Gas Chi (3). 94% Pere Marq pr pf (5).. 38% Phelps Dodge (3)... 11% Phila& Read C& 1 24% Phillips-Jones (3)... 81 Philip Morris (1).... 29% Phillips Petrm (n2). 1 Plerce Oil. 20% Plefce Oil pf. 2% Plerce Petroleum. 33% Pllisbury Flour (2). Pirelli Co(A) (p3.14) . 100 Pitts Steel pt (7).... 20% Pittston Company. .. 27% Poor & Co (B) (3)... 59% P Rican Am To (A)7 12 P Rican Am To (B).. 97 Postal Tel & Cpf(7). 45 Prairie Oll & Gas(2). 54% Prairie Pipe L (16).. 7% Pressed Steel Car. 81% Public Serv, NJ 107% Pub Sve E&G pf(6).. 81% Pullman Corp (4).... 21% PureOll (1%).. 77 Purity Bakeries (4). 34% RadioCorp. . 68 Radiopf B (5).. 19 Radio-Keith-Orph A. 33 Raybestos Man 2.60 121 Reading (4). 44% Real Silk (5) 3% Rels (R) & Co. 28 Rels (Robt) & Co pf. 25% Rem Rand (1.60).... 21 92 Reming-Rnd 1st (7). 2 95 Reming-Rnd 2d (8). 100s 10% Reo Motor Car (.80). 72% Repub Ir & Steel (4). 4 Reynolds Spring. . 49% Reynolds Tob B (3 41 Rhine W El P (2. 22% Richfield Ol (2) 16% Rio Grande Ol (3). 37% Rossia Ine (2.20).... 49% Royal Dutch (a3.20). 96% Sateway Storestes. 0% Woolworth (2.40)... Stew-Warner (h3%) Stone & Webster (4). Studebaker Co (5) Submarine Boat.. Symington (A). ‘Telauto Cp (11.25) Tenn Cop & Ch (1) Texas Corp (3)... Tex Gulf Sul (4).. TexPC&O (b10%). Pae Land ) ‘Thompson Starrett. Tide Water Asso 60c. Tide Wat Asso pf (6) Tide Water Ofl (80¢) Tide Water Ol p£(5) Timken Det Ax 1800 6 Timken Roller (3)... 150 Tobacco Products... 10 Tobacco Products A. 11 Transcontinental Oil 147 Transcont'al Oil n Transue & W (1). Trico Prod (3%). Und-Ell-Fisher (5. 2 1 76 2 1 2 United Elec Coal. United Fruit (4) o Enlnenawans - 19 «..fi..,m. Univ Pict 1st pf(8). Univ Pipe & Rad. Utll Pwr&Lt A (‘l). Vadsco Sales Co Vanadium (t4). Vick Chemical ( Virginia-Car Chem. Virginia-Car 6% pf. Virginia-Car pt (7).. Vulcan Detin (A)(1) Wabash. . Wabash pf, A (6). i Waidort Sysum (1%) Walworth Co (3).... Ward Baking A..... Ward Baking B..... Ward Baking pf (7)., Warner Bros Pic (4). War Bros P pf (3.20) War: Quinlan (1). Warren Bros (19)... War Bros 1st (3). Warren Fy&Pipe(2). Weas O & Sn pf (4).. West Penn Hi pt (6). Woll Penn El of (7). - s - S S S © sodnellonn Sonandn ons térn Pacific pt. tern Union (8). .. S & L LT T T Wextark Radio (2).. White Eagle Oil (3).. White Motors (2). ... White Rock M 8 (14) White Sewing Mach. 4 Wilcox Uil & Gas.... Wilcox Rich, B (2).. Willys-Over (1.20).. Wilson & Co pt...... Worthington Pump.. Worth Pump A (7).. % Wright Aeronautical Wrigley Wm (4).... Yale & Towne (16).. Yellow Truck & C.... Young Spring (3) Young Sheet & T (5)- Zenith Radlo........ RIGHTS EXPIRE % | the model A INCREASE IN LOANS TO BROKERS SHOWN $137,000,000 Gain in Week—New York Bank Cuts Redis- count Rate. ; Bpeclal Dispatch to The Star. NEW YORK, March 14.—The weekly statement of the Federal Reserve on brokers' loans showed an increase of $137,000,000 for the week ended March 12, bringing the total to $3,720,000,000, the highest since November 6, 1929, as compared with $3,503,000,000 a week ago and $5,627,000,000 a year ago. Loans for own account were $1,146,000,000, against $1,006,000,000 last week, and loans for out-of-town banks were $1,- 079,000,000, contrasted with $1,032,000,- 000 in the preceding week, while loans for “others” were $1,494,000,000, com- pared with $1,545,000,000. Following the meeting of the directors of the New York Federal Reserve Bank, held Thursday after the close of the market, announcement was made of a reduction in the New York bank rate from 4 to 3% rr cent, the lowest since February 3 1928, AUTO PARTS TRADE IN UPWARD TREND [zm:1¢ ‘The trend of prosperity in the auto- mobile parts industry has experienced three major movements—an upward movement during the early develop- ment stage of the automotive industry; a downward movement during the stage when manufacturing integration was a fetish; an upward movement since the introduction of the new model A Ford car, according rent survey by the Standard Statistics c«xtor New York, which continues in part: “The upward trend which began some three years ago was checked some- what in 1929, and is likely to meet further resistance during 1930. “While there is evidence to suggest that the main trend over the long-term future is upward (subject, of course, to interryptions from time to time), it would be rash to forecast such a de- velopment with complete assurance. This uncertainty occasions one of the chief hazards attaching to long-term holding of the common stocks of com- panies in this industry. “But these are some of the most logical reasons for assuming, tentatively at least, that the business of some of the leading parts makers is more likely than unllke!y to continue to expand in the future: “l. The outstanding efficiency of the leading parts producers which makes it an economical proposition for many automobile manufacturers to utilize their facilities. “‘2. The further economies of a high narrow field. “3. The probability of further im- provement in productive technique and Lnl the character of the praducts them- selves, |"“4" The new situation created by A Ford and the changing .P‘r;d attitude toward outside sources of ply. the prospect that the model A Ford (which in a numerical basis accounts for around one-third of domestic auto- mobile sales) will be significantly altered in the future much more fre- :\lxoeéntlyrthln was the case with the old el Washington Stock Exchange SALES, Capital Traction 5s—8$500 at k ‘l 000 at 9515, "e ‘ashington Gas 6s “B”—$100 at 103. Powmlc !lectrlt 5% % ptd.—5 at 107%. Wllhlnmn wy. & Elec. pfd.—14 a Powmlc Savings Bank—10 at 65. Merchants’ Trans. & Storage com.—10 at 110. AFTER CALL. lwnzm’lc Electric Cons. 55—$1,000 at Clplhl Traction Co—50 at Yar | at 8414, o wmnnmn Gas 6s “B"—$500 at 105%. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Tel. & T Bid. Mked - joota 1631 82! Amer. L tr. B ARscostia®s Por* . . % Anscostia & Pot. siar: ic & Gavital Trac 5% Subarsan Cold Blunn 5 Wash: Eons. e ton STOCKS. Amer. Tel. & Tel Gapital 'rnezgm' Co. ash., Bali. Wash. Bait. & Annep. B NATIONAL BANK. National Capital. Cofumbia - Second " 2 National Bank of ‘Washingion' TRUST COMPANY. American Securlty & Trust Co. Union Trust Washington Loan & Trust SAVINGS BANK. WASHINGTON, D. C, FRIDAY, MARCH 14, 1930. [ o BONDS o s Received by Private Wire Direct UNITED STATES. (Sales ure in n‘l. Sales. -High. 63 100 10 1005 1006 20 10116 10112 101 14 129 101 31 101 28 10129 45 10110 1018 1018 26 106 10 10610 106 10 10 108 30 108 30 108 30 38 1136 11230 11230 FOREIGN. 0! 105% 106% 951% 96 7% 9T4 103% 103% 107% 107% 11% 111% 108 108% 1154% 115% 110% 110% 82 824 9 ki 96 96 103% 105% 83% 84 83 84 89 89 99% 102 108% 96 9% 108% 107% 111% 1087 115% 110% Sales Midvale Steel 2 Montana Pow 12 Mor's&Colst ¢%s 1 Nat Dairy 64s. N Y Edison & New England Tel 62 North Am Edis 6 No Am Ed 6%s Nor Ohto Tr&L Nor States Pow 2 105 105 FINANCIAL. High. 101 101 10) 101% 101% lflfli 81% 81% 99 98% 104% 104% 10!\‘ 105 94% 94% 106 106 99% 9! 107% 107% 107 1L 11 o1 102% 102% 102% 102% 1024 102% 99% 991 99% 101% 1013 101% 106 106 106 102 101% 102 102% 102% 102% 101% 101% 101% 5814 56% 584 4% 106 995 984 981 100 100 100 98% 98w 98% | o 955 5% 95% 100% 100% 100% 10134 1013 101% FTRADINGINBONDS ON BROADER SCALE Market Surges Forward Con- fidently After Lowering of Discount Rate. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, March 14—After a week of steadily growing activity and strength on the anticipation of & cut in the New York Federal Reserve re- surged into record activity and new high ground with the realization of the lower rate. 1t only required the stimulus of still lower money rates to reveal the large ms that had been awaiting invest- Savings banks, life insurance pantes, trusts and individuals came lnw the market seeking large blocks of good bonds. ment. 1024 102 102% [ Volume, at around $25,000,000 for the 98% 98% 98% | day, was at a record height since 1928, tion of one or two ses- 102% 102% 100% 100% 96% ’!K lG% with the exce) sions in 23 102% 102% 102% 104% 104% 104% 103% 103 103% to a cur- | Gyj Colombll 68 Ja Con Pow Japan Copenhagen 4% ba 631 100% 100% 110% 111 110% 110% 109% 109% 109% 109% 931 93% 101 101 106 105% 102% 102% 108 108 92% 93 888, 88M 100 100 107% 108% 116% 117 122% 122% 9% 92% 95 95% 107% 108% 104% 104% 87 87% 93% 944 102 102 1962..00. Danish Munie 88 A. Danish Munic 8 Denmark ¢3%s Denmark 5% 110% 109% 109% 935, 101% 105% 102% 108 Fiat Tsex war ¢6.. 28 Finland 6% . Finland 7 Framerica: German Bank 6s°'3. 34 German E1P 6%s German 7s. Ger Gen Elec 7s. Greek 65 1963 Haitl 99% 98% 96% 9% degree of specialization in a relatively | “5. Frequent changes in models, and N 961% 96% 96% 103% 103% 824 83 8% 19 95% 96% 103% 103% 108% 103% 12 12 124 12% 93% 93% 103 86 97% 97% 101% 101% 108% 1081 103% 103% 102% 102% 0% 91 98% 98U 102% 103% y Norway 6348 1953.. Orfent dev 53 6! 102% 91y 98% Poland . Poland 7s (rets).... Poland 8s. Prague 7%s. Queensland 107 101% 106 101% 101% 106 106 106 105 22 931 93% 934 101% 101% 79% 80 Sao Paulo 195 Saxon (PW) 7s, Seine 7s 42, 95% 95% 108% 104 104% 104% 108 103% 107% 108 991 99% 90% 104 96% 8% 0% 90% 103% 103% 96U 96% 88 884 79% 8% 79% 26 97T% 96K 9T MISCELLANEOUS. Abitibl Pa&P bs '5: 8 84% 99% 101% 101% 8 1005 101 3 103% 108% 103% 100% 100% 100% 1041 104 104% 100% 100% 98% 100 80% 82% 101% 101% 103% 103 167% 158% 108% 103% 104 104% 103% 103% 106'% 106% 100% 100% % 1 89 89 82% &3 1% 1% 1037 103% 101 101 102% 102% 104% 105% 100% 101 . 51 51 Am Wrtg Pap 6s 47 Armour&Co 4%s 39 Armour Del 6% Atl Gulf 5 69 108% 101% 102% 105% 101 51% Bush Term Bldg 58 Certn-Td 6%s rots. ' StandOINY ‘Tenn Cop 6s B Tex Corp ev bs l“ 140 Transcontl Ofl §%s 45 9T 96% 96% 100% 100% 100% 107% 107% 107% 103% 102% 102% 9% 97% 99% 95% 94% 95% | g 87 86% 86Y% 100% 100% 1004 100% 100 100% 91y 91 e 60 60 60 102% 102% 102% 84% 84 84 103% 103% 103% War Quinland Western Elec ‘Westn Union 6% - Wick-Spen cv 7s Wilson & Co 1st 1 Youngstn S& T §s. 24 103 RAILROAD. Ann Arbor 4s. . 4 B1% 81% 81% !5 9% 94% 94y 88 86 88 ! 186% 135 136 102 103 AtlantieCL Atlantic C L 4 Atlantie CL 4% Bal lo&ohl;lold 4 2 9% 99% 99% 94% 100 21 104% 103% 104% 2 103% 103% 103% 5 105 105 105 18 110% 109% 110% 8 944 94U 9% 28 108% 10!% 103% l l \‘ 99‘6 100\6 92 BS 99 100 Bklyn Un EI §s sta.. 7 87 Buff R & Pitts 4348, 93 Bush Term con bs.. 98 95 ’5‘6 95 95 20 94% 941 94 14 102 101% 101% 6 102 101% 102 1 111% 111% 111% 04\5 Can Nor Can Pac del 3 105% 105% 105% 2 107% 107% 107% 16 93% 93% 93% 5 103% 103% 103% 100% 101 1 105% 105% 1056% 20 100% 100 100% 2 67% 67% 67% 1 88y% 884 88% 9 N 95’/» 94 99 16 101% 107!‘- 107% 1% Chi&E 111 gn Chi Gt West CMSP&Pacadibs03 70 73% 72% 72% Chi&NWgniks.. 3 79 179 9 ChiN W 4e%s3031. 12 97K 964 97% Chi & N W con 4%8308 100% 100% 100% 5 106% 106% 106% 4109 109 109 8 100‘/6 100'4 !00‘4 W‘fi 9% 958 92% 9“ m 9% 95% 81 104 9% 7% 93% 86 83 5% 101 104 96% 97% % 86 83% 5% 101 64 98 29 94y 6 86 22 88% 89 96% 7101 2 66 54 .« 1106 106 106 ees 2 111% 111% 111% 5 98 7% 9 DROEWII.I.‘I!. Gt Nor 4348 76 D, GtNor4%sE... 16 97% 9T% 9% Great Northn 1st8s 5 96 961 96% Gt Nor 6% 2 109% 109% 109% Gt Nor gen 7 wer 11 112% 112 112% 84 84 84 82 981 11 Cent ref 4s... 111 Cent 48 52 111 Cent 4% s 99% 111-C-C-StL&NO [ 16 106% 106% 106% int Rapid Trani 67 67 Int Rap Tr 68 stpd. 27 G'l 66% 67 Int Rapid Tran: 1 88% 884 88% Int & G Nor §s 11, 94 93% 93% Int& G Nor 1st 65.. 5 104% 104% 104% Int & G Nor adj 6s.. t; 17;: :‘ 2:/. RysCA 6 % Int Rys de Int Rys CA 6%ste. 10 98% the ¥ | 520, Wu r, 1929, when forced liquidation was at its worst. The price advances wm widest in the foreign department. Brazil 8s, for instance, ran up 3 points to a new high. Australian 5s (1955) were 115 points higher. German reparations 7s touched ma a level equal to their best - 1929 German Central Bank 6s of all man:;i:.lel gained from fractions to over pol Jugoslav_mortgage 7s were 2 higher. Generally = speaking, n-ench issues were firm at their best prices of the year, and so were Belgian bonds. K oy R more circumspectly, of past week having d.\woun" measure, the events of todsy. Unfled States Governments were quiet, but each sale recorded a new high. Frac- tional improvements were made by Baltimore & Ohio first 4s, Pennsylvania 4%3s, Southern Pacific 4ls, Union Pacific first 4s, Chesapeake & Ohio 4%;s, Standard Oil of New ‘Iork l‘&!; Standard of New Jersey 5s, phia Co. 5s, Columbia Gas S5s, Uhh Power & Light 5s, American Telephone 58 and lnurnltlonal Telephone The coincidence of the announcement ouri-Pacific - ringens and the of control of the :~ unding 5 per cent ing to the Van issue of $25,000,: bonds by that r. was reflected in « the ly. at 100% lnd mture in bondl olmed the wm 2 nmr-l Dflifl Natural Gu 6%s neral m*er oil. food mmp-.ny Municipal Utility Dis- mfi. wmldmsfihh up, with Wall Street Briefs By the Associated Press. The National Products Corpo- ] Highland Dairy Louis, Mo., and the D. Inc., distributors of milk and other dairy products, of Louis- ville, Ky. The New York Stock Exchange has admitted to trading 1,000,000 shares of outstanding stock of the Lehman Cor- tion, an investment trust 000 United Stat IMWUNMM P, Electric Bond & Consolidated Gas 10,000 shares of American Tel c\mcorwnm tion, muflhlmor the Southern and its fire in- Stockholders of the Hamilton Watch Co. of Lancaster, Pa., have approved the authorized A -par 400,000 shares of $25 par value. stock- holders will receive two no-pnr for each old share. When the has been completed there will be shares outstanding. Sales. High. Low. Close 65 90% 90% 90% Nor Pac Nor Pae + | Nor Pac Ore Short Lien Ore Short L 5s gtd. Penna ¢s 1948 stpd. Penna con da . B oaw =5 P TTR P N P 108% 29% 99% In New York City, a beehive for work- A ROl 0SB shop activity, Miss Perkins reports that the net decrease in employment from January to February was less thaa for the State as a whole. Three Northern New York cities— Syracuse, Buffalo- and Utica—reported a small increase in employment from January to February. The basic iron and steel industries, clothing, textile Chile Covpcr ' oo 96% 82 101% 99 106 100 84% 84% 100% 100% 9% 9T% 91 Mis & Lo 9414 Sateway pf (8) 109 105% Safeway Strs pf (7). 2 57% 48% St Joseph Lead (13). 114% 107% St L-San Fran (8)... 961% 92 St L-San Fran pf(6). 59% St L Southwestern. 4% Schulte Retall Strs.. 35 Schulte Retall pf(8) 51% Scott Paper (31.40).. 9% Seaboard Alr Line 965 % Port RL&P T%s Reading gen 4%s A RIArk &L 4% Rio G West el St L IM&S gn 1 St L IM&S R&G ¢s 96% 96% % % LehiVgen 4% 2003.. 7 99% 99% Long Isrf4s49.... 12 90% 89 89 Long Isdeb 68 34.. 1 100% 100% 100% Long In6s37...... 4 98% 98% 98% Louis&Nashnui ¢s. 2 95% 95% 95% 03....112 98% 984 98l 1 105% 105% 105% | g¢ 1, & San Fr in Pac Light, Pac T & T....Mar 31620s So Cal Ed. April 2 Sales of Stocks on New York Exchange. 10:30 A4, 509,900 12:00 Noen...... 1,650,600 1:30 P.M....... 2,748,400 2:10 P.M.. . 8,114,000 Dividend rates as tlnn in the avove tables are the annuai cash payments based ol 3 100 5 98% 1 8% 2 100% 15 97% 19% i 314 | Washington M FIRE INSURANCE. 69% American Gorcoran National Union. TITLE nvlulul!ct. 105% 105% 99% 99% 100% 100% Louis & Nash b: and nuwmb?bileh{:c‘mrles were largely responsible for ti Increase. spo -acuse—the blue ribbon city of this State in this field—in January and Feb- ruary reports a gain of about 1 per cent 9% Seagrave (e1.20).. b) st quarterly or half vearly declarutions. 1o EATUY exer Flus 4% 82% Sears Roebuck (32%) 9% Second Natl Inv..... 58l Sec Natl Inv pf (5).. 2% Seneca Copper...... Uit of nrwbflm o ‘epaiar’ Tate able in cash or bPlusas in e nul k. e %% in 10% in s ius 8% 11 sock. 'k Shis 3% in o -url- R big 1n s m Plus 8% in stock. pSubject to spproval of Columbla Title. Real Estate Title. Title & Inv. of Md. com MISCELLANEOUS. 106% 106% Louls & Nash 7 12 1004 100% 1004 | S&L.4SK gon 58 33, 84% 86% Man Ry 18t 48 90 2 Market St 18 40.... 7 Mil El Ry & L 68 51 5 101 70 100% 100 87 57 57 98 92 92% 101 101 StLSWist StLS Wbsb3. StP & KCShL ¢%8. Seab AL ref ¢s. MUl El Ry & L6 61 M St PESSM en ¢s.. 38 MStp&SSMenbs. 1 MStP&SSM 653 gtd. MSIP& l!ll % madkno 100% in employment. ‘The p%umrel for this survey of In- dustrial missioner Perkins are taken from about 1,700 manufacturing plants located within New York State. (Copyright, 1930. by North American Ne paper Am-nce ) PARIS BOUESE PHCES. PARIS, March 14 (#)—Prices im- proved on the Bourse today. Three r cent rentes, 86 francs 15 centimes; per cent loan, 102 francs 40 centimes. 103% 1034 98% 107% 94% 100% 2 102% 104% 3 99 103% 103% 103 1034 98 98y 107 107 93% 9% 100 100% 102% 102 104% 104% 99 99 90 895 90 |SeabA L dssta. z 96% 95% 95% | Seab AL con ‘Western Maryland Railway. BALTIMORE, March 14 (Special).— Western Maryland Railway Co. con- tinues to maintain the gains reported | steadily so far this year. Estimated earnings for the week ended March 7 aggregated $358,250.68, an increase of $5,549.92 over the corresponding period a year ago. Total earnings for the current fiscal year to AUTOMOTIVE EXPORTS SHOW GAIN IN JANUARY By the Associated Press. An increase of $3,983,095, or 14.7 per cent in the value of automotive products exported from the United States d January to $31,166,674, Markets at a Glance NEW YORK, March 14 (#)—Stocks —Irregular; International Telephone & Telegraph weakens on new financing. Bonds—Stron| investment issues | Ford, Ltd, reaches new 1930 peak. 2] 10Ly) e R Bus P . 37 100% 100% 100% TllArl"l“l'l . 35 111 110% 110% Tm & Pacifie 1 rmref 5841 6 98% 98% 98% Exchnnge on London, 124 francs 26% centimes. The dollar was quoted at 25 francs 56% centimes. . Utilities Expenditures. NEW YORK, March 14 (#)- pital expenditure by the electric light and power companies for additions, better- ments and new construction during the Foreign exchanges—Easy; Canadian dollar rises to 99% cents. Cotton—Steady; trade buying and covering. Sugar—Steady; trade support. Coffee—@ uiet and featureless. CHICAGO, March 14 (#).—Wheat— date were §3,- 397,541.29, or $80,004.25 more than lznl;o:e of the corresponding period in $142, 740000 for Florida. ‘TALLAHASSEE, March 14 (#). —Florida’s crops, poulu—y, dairy and live stock ucts in 1929 were valued at $142.740,000. Departmen A decrease of $16, 126?“ flflm Jlmnry of the preceding year was noted, how- ever. Combined passenger car and truck shipments during the first month of the year were valued at $18,690,729, an in- crease of $2,027,385 over December, but $7,145,107 under January of last year. The $12,475,945 total for other auto- motive ucts was $1,955,710 above NEW YOR.Kh.llmh 14 (Bpechl)‘_ Ne; Yofk m 'ntl Tel&Tal bs Kan G & E6s 5. Kendall 5% s 48 war 101 103 101 103 116% 116% 96% 97% 105% 105% 105% 91 91 91 101 108 Nassau El 45 NYT&MG6%S. 1 - 99% 1’1 1om 107 15 8 103 103 81y 82 98% 98% Nu 4% 9% 9% 107% 78 78 18 964 964 96Y 9% 9T 974 1 107% 107% 107% 1 8B% 55% 66 Tex & Facbs Third Ave l‘l l Third Ave Tol Tr ur l*l Union Pacifi o Virginia Ry 1st 88.. 11 105% 105% 105% VyRy & P6s...... 11 100% 100% 100% Whash 4%s78rots 15 95 98y us month’s total and ‘21 ’IDY. l.nla’t under the corresponding mos 98% T 11 1025 101% 10254 ll m% I.“fi l.lh 83 821 83 119% 119% 119% 119% 116 119% 99 96% 96% 92 92 4 101% 101% 101% a 102% 102% 102% 8 8 5 %% 9% ’l’!& 4% 94 94N l2 wov. 130% 130% 1 88 1n l\i l\( 5% six years from 1924 to 1929, inclusive. . exceed ltmfl{‘: expg:d&x;m"h& :Iheln,l:- TREASURY CERTIFICATES. roads, accor st ical - search dep-n:e'nt of the National Elec- —_— (“_lomf“"v' _J, & w. 40 & eo. tric Light Assoclation, which reports SILVER QUOTATIONS. June 16,1830, ... “cmmo'%% "flfih “Meompl‘pnei:: NEW YORK,March 14 ().—Bar sil- i g i " $4.805,000.000, "0 the Pover ver, 41%5; Mexican dollars, 30%. 3 it balances, $182,000,000; a_ year 181, New York Mnl’ o ‘ mcredm?tw balances, today, uuoooooo a year ago, $144,000,000. Reports of was & record busi zuela. Losw's, Ino 6. Loew's $s wo Lorillard 6% i | Corinara (P! 108% 100% ‘frms indicate 1029 + LoV Gas & E1 6 7102 101% 102 e8s year for . Manati Sugar S TBy, Sy | T n beksar McC'rmick ER 5 101% 101% 101% N “:Iwuaum: to list u,m ital stock New York Stock that it com) has Milk Co., m{'fi Tfill.wq