Evening Star Newspaper, March 21, 1930, Page 15

MBUUSIARI,._,_-&__M%“,.M “Utilities Are Featured on Upside—O0il Shares Are Higher. BY JOHN A. CRONE. Epscial Dispateh to The Star. NEW YORK, March 21.—After open- ing active but irregularly, today's curb market developed strength as trading progressed. The market, however, re- mained a two-sided affair with some stocks in the same group advancing to nn: peak prices as others steadily &lipped. ‘The public utilities, under the leader- thip of Electric Bond & Share, dis- played the greatest uniformity on the upside, but some of the gains registered by the oils were wider than those in other sections. - Electric Bond & Share came within a fraction of its highest price for the year. Meanwhile American Light & Trac- tion, American Gas & Electric, Com- munity Water Service, Consolidated Gas of Baltimore and Brazilian Light & ‘Traction were whirled to new peaks for ‘the year. The* Standard ofls contributed the greatest number of high records in the petroleum list. Gulf Oil of Pennsylvania, which lA Jargely owned by the Mellon family, continued to slip. Although traders were satisfled with its gain in net profits, reported several days ago, they did not take kindly to remarks to the effect that ‘further investments would have to be made in improvements and expansions and that the companry would continue its policy of retaining surplus earnings for reinvestment. Some traders believe Gulf Oil could pay a higner dividend rate. NEW YORK, March 21.—The follow- ing is today’s summary of important corporation news, prepared by Standard - Statistics Co., Inc., New York, for the Associated H News Trend. General Motors February sales to users were 19.4 per cent below a year This is rather a poor showing when compared with January sales, which showed a nominal increase; two. months’ results show a decline of 11.5 cent from a year ago. This dif- jerence is ascribed to last year's Febru- et Arizona Mining earned $0.18 on common shares in 1929, vs. $9.22 in 1928, (including subsid- lus (after pre- on common fl 1930, vs. $6 in year to January 31, 1929. Mining earned $1.88 on tal m%flynr{fli vs. $1.58 in 19 ek l'n'ded contract Keystone Aircraft 73 bombardment planes, lgtre rm l‘:rd engineering data; to cost, $2,208,137 New York State Railways, 1 action begun on first eonnud-red mon- & Light January and S Bacific Power & Lig a 12 months balance before pref dividend up 2 per cent from year ago. BONDS ON THE CURB MARKET. B o ws AEREEEd 8.— =5se] L =8, S 5 2322823 = 2322223 GRS e SeaSgne3ss: g 5 238! eaSaasSsE E 5 s¥sezsiangasinels -ssg:fi ;o =3 st EEFIE IS 5 = as32sines: 8o oSwlaa Pt Betons S, 59 'v‘ A i ] lndlll '3 -v.wmn v-rnnu, WI ut Warrants. EWn 1o »nwmfi m-u hundred-sha s (658) lots enty ividend Rate. mn Open. High. Low. 45 m I’K l(‘mlwclm(tll.r 24 19 Agfa Ansco..i..... 27% 21% Afnnworth Mfe 12%. Alexander Indust. .. Allegheny Gas Corp. Allled Aviation...... All Amer Gen Corp. . Aluminum Co of Am AluCo of Am of (8), Am Bakeries A (3).. Am Brit & Cont ... Am Capital pf (3)... Am Capital pr pf 5% . Am Chatn (3) Am Cigar Co. Am Cit P&L A (a3). Am C P&L B (b10%) Am Cwith P A b10%, Am Cwith P B b10%, Am Control O11 Fi Am Cyanam B (1.60) seo Am Dept Stores. . Am Equities. ....... Am For Power war.. Am Investors 4“7). 1 Am Laund Mch(4). . 7508 Am Lt & Traet (10). Am Salamandra (l)-A Am Superpower (1). Am Super 1st pf (6) Am Superpow pf (6) Amrad Corporation. . Anchor Post F b10% Anglo Chil Nitrate. . 4 ATEOOM......euvee Aris Globe Copper. Arizona Power, Arkansas Nat Gi Arkansas Nat Gas A. Art Metal Works(3) Asso-Dyeing & Ptg.. Asso-Elec Ind Ltd. AssoG&E A (¥ Asso GEE A .. Asso Rayon pf (6) Atlantic See Corp. Atlas Imp Diesel En. Atlas Plywood (2).. Auto Musie (A) (1). Auto Vot Ma cv prpt Aviation Credit..... Babeock&Wilcox 9. Bahia Corp. .. Bancomiymew (1.60) Bellanca Alrcraft... Bliss Co (E W) (1).. Blue Ridge Corp.... Blue Ridge cv pf l-l) Boston & Albany 3% Bounjols, In¢ (1).... Brazil Tr & Lt (2)... Brill Corp B.... Brit Am Tob B t1.. 20. Brit Am To reg 11.20 Bruck S Mills Ltd(2) Buckeye P L (4) Buff, N&RP pf(1.60) Bulova ev pf (2%).. Bureo, Ing (war)...: Burco, Ine ev pf (3). Blll'l!l- Corp (t31e).. er Bros (30¢)... lw-n M Kubwa. -3 » ot = BRARDRAD HRAR~ AN ESRAN AR~ AN ® AR~ T SRR AR B Smoneren 19 Cen States El (240e) 72 Cent Sta El pf(6)xw. 4% Centrifug Pipe (60¢) 12% Chain Stores Stock. 53% Ches & Ohlo (new) 165 Chesebor Mfg (4% 26% Citles Service (330¢) 88 Citles Serv pt 18 S):v Tractor (1.60) 5% Colon 24 Columbia S Sl% 111 Alabama Pwr pf (6). Wl l"% 111% )H% 5 'I‘fi 1% 1% 18% 184 832 382 107% 107% 35% ™ 87 77 611 86% 45% 26% 26 39% # 35% 5 5% 71 8279 2 12% 62% 180% 130% 130% 5% 5 5% 48% 4TH 48% ™ 7 TH 27% 26% 2T% 14% 14% 14% 6% 35 293 234 Com'with Edison (.)l”l mu ”IK 290!‘ ”3“ 3% Comwith & Sou war.. 12% Com Wat Ser (b8 %) 11 15 Consolidated Alreraf 9 % Consol Auto Merch. . 5 Consolidated Copper. 18% Con Dairy Prod (32). 90% Con Gas. Balto(3. 21% Con Gas Ut A(3.. 3 Cons Instrument, IncA. 11% Cord Corp....coeseer 12% Corroon & Reynold: De Forest Radio. Derby Oil & Refin. Detroit Atrcraft Cor. Detroit Gasket(1.20), Dix Gas & Utilities. ., Doshler Die Casting. Douglas Alr (75¢) ... F Asso.. East Sts Pow B (1).. Eastern Util Assocv Eastern Utll Inv A Educational Ple pf Eisler Electric (1 Elec P' Asso A (1)w E1 P& L opt war. Elec Sharehldg ( El Sharehold vf (6) = Empire Fire Ins Emp G F cum p! Empire Pwr Corpt3) Emp Pub 8v A(1.80). Emplay M' sur 13« forey The Europc El Ltd opt w. Fabries Finishing. i i3 =3 e EL T BTSN - Ford Motor Can A Ford Mtr.France 3%¢ Ford Mot, Ltd 37%e. Foremost Dairy Pr.. Foremost Fab (2)... O o) 5 0 S 69 TN OV 39 Ot b - = P T Glen Alden Coal 18) Globe Underwriters. Ground Gripper (1).. Gulf Ofl of Ps 11%). 28% Guenther Law (2) Happiness Candy. .. Hartford El Lt(2% lWl HazeltineCorp (1).. 4 lena Rubenstel: 1 l'fli l!h 17% IQK 244% l‘ 25 % “ % 8% ‘% 6% 16% 16 16 119 115% 115% 30% 30 30 4% 15 % 14N 14n % * % L 3% 42% 42% 8% 8% 3% 40% 41 40 40 118 117% 118 24 24 24 151% 147 151% l% 28% 28% 28% ll" 26 --Prev 1930.~ High. Low. b4% l'm 321 6% 1% % 28% 2 15 35% 8% 1 Stock and Sales— Dividend Rate. Add 00. Open. High, “tow. 358, | Figh. Low. 50s 304 304 304 304 6% Indus Fin ev pf (7) Insull Ut Invib8% ) Insull Ut In 24 pf lm-rnl Petroln (1) Intl Superpow ($1) Internatl Ut B Internatl Utll it Bq Irving A!I’CI " 60). Italian Superb w: Italtan Superpow Johnson Motor Co Jonas & Naumbur, Klein (H)pt pf $1.20. Lackawanna See(4). Lakey Fy & Mch (1 Land Co of Florid: Lane Bryant. Ine(2 Lefcourt Real pf (3) Lehigh Coal&Nav(4) Lehigh Coa'&Nav(n) Leonard Oil . Lerner Stores (2) Ley (F T) & Co (3) Libby McNell & L. Lone Star Gas (1)... Long Isl Light(80e). Loutstana Lan & Ex. Mac Marr Stores. % lh(dl ena Synafeat. 8% 18% 2 25% 1% 16% 27 2% 13 18% 1% Sfli 7‘6 15% 50 29 3% 19% 3% 13% 16% 26 60 354 2% 18% 68\1 % 1055& 22“ lll 11% 3 6% 12 27% 1% n-Bowman A (1% er W T br shrs 62c. Marine M1d Cp (1.30) Marine Union Inv Marshall Field & Mavis Bottling. Mayflower A8so Mead Johns nl'l“) Memph Nat Gas Co.. Met & Min Ino (1.20) Met Chain Stores. ... Mexico Ohio Of1. Mid Wst Util (b8%). Mid West Ut A war., Mid Royalty cv pf 2. Miller & Sons (2)... Min Corp of C (25¢).. Miss River F Cp war MoKanPL (b10%). Montecatini deb rts. Morison Eleo (31)... Mount Prod (1. Nat Amer Co Nat Pub Serv B 1.60. Nat Rub Mach (2)... Nat Screen Serv 1.60 Nat Steel Corp xw (3 Nat Sugar NJ (2)..; Natl Trade Journal.. Natl Transit (1).... Nat Union Radlo. ... Neet Inccv A (1.60). Nehi Corpn (1.30).. . Nelson (Herman)(3) Nevada Cal Elec.... Newberry (1J)(1.10) New Brad O11 (60¢).. NewHav Clock t1%. New Jer Zine (14)... % New Mex & Aris Ld.. Newmont Min (34).. ) N;lnvm (1.20)..00 Niagara Hud P(40¢) Niag Hud Pw A war, Niag Hud Pw B war, Niagara Shares Md... Niles-Bement-P 3% Nipissing (30¢)....0 Noranda Mines (3).. % North Am Aviation.. 61 16 69 8% & 17 164 71 90% 5% 224 19% 15 2 3% h 19% 106 10 % 19 36% No Am Aviat A war. Nor Am L & P pt (6). 2i North Am Util Sec. . No Am Util 1st pt| North St Pow A (8).. North St Pow pt (7). ©Ohio B Tel cm pf(1). Philip Morris Ine. .. Pierce Governr(1%) Quebec Power (2%). Radio Prod (50).. Rallway & Lt 8 (16). RainbowLumProd A Red Warrior. .. Reliable Strs (b5 % ) . Rel'nce Managemnt.. Republie Stesl n wi., Rep Steel cum pf wi.. Reynolds 1ne Ba nold Rocklans x.mr(u-), Rolls-Roy of Am pf., Roosevelt Field. Ine. Ryan Consolidated. » 8t Anthony Gold.... St Regis Paver (1).. St Regis Pap pf(7).. Salt Creek Prod (2)w Savoy Oll....o.eones Schlet & Zan pf 3% . Seeman Bros (8).... 5% Seg Lock & H (500) « 10% % 59 66 4% T 1% 18 465 u'h z"/. 22% 23 4% 13 9 T% Seiberling Rubber. .. Selected Industries.. Select Ind pr (6% ). Bel Ind allot ofs 6% w Sentry Safety Cont., Shattuck Den Min... Sheaffer Pen (13)..ve 4 Sierra Pac Eles (2).. Silica Gelet. ... sese 2 Singer Mfg (t14%). 1208 487 i 137% Smith (A O) (2)....1708 214% Solar Refining (234) % So Penn Oll (12%).. So Cal Ed pfB(1%).. 8o Cal £d pf C(1%). 8o Col Pow A (2 8o Ice & Utilities B So Pipe Line (12).. Southland Roy (1 S W Dairy Produets., 117% 8 W Bell Tell pt (7). 7% 8 W G 50 5- Hl....... Southw Penn PL(1) Standard Motors. 49% Stand OiL, ind (l*)- 2;“1: Stand Oil, Kaa (2) nd O1l, Ky (1.6 44% Stand Ol Neb(13%) 81 St Oilof Ohto (2%). 117% St Oil of Oh! 544 Tampa Eleotrie 1u 71% Technicolor, Ine, 4% Teck Hughes (800] Land, 103% Timk Det Axle pf| 48% Tish Realty & Con., % Tobaceo Pr Exports, “% u% Mlllnlll Wae % 127 2% 4% 40% 3% 481 uu 41% 21‘/. lsu 11% 414 23‘& uou 19 10% 19% 6% | rates to July 1. 0% | the Norfolk & Western ordered 1.000 9% | the smallest number since fall. x wfl.h 83 Xut week, and lndenendenu u: ~Prev 1930.~ Stock and Sales— Dividend Rate. ‘l% ‘Transamer (31.60).., 47 'ran Con Air Tran.. 27 "6 TP-LHIDLP.(A). 1 Tri-Continental Cor. 36 ‘Tri-Cont Corp war 4 ‘Tri-Cont Corp Dfll). 3 Tri Utilities (11.20).. 16 Tri Uttlities pf (3).. Tub Ar: Silk B ¢10). ‘Tung-Sol Lamp (2). Tung-Sol La'p of (3) Ungerleider F Corp.. United Wall Paper. Add 00. Open. High. Low. 2 u High. 45% ~Prev 1930.— lMl and ividend U(lllly Pw & Lt(al). T Utility & Ind..... Dtll.l“o!u*)-. 25% Utility Bquities..... % FINANCIAL. ic’t K—-l!» IMARYLAND BANKS Bales— Rate. Mfl lo. oun nuh m’ 19% 18% Vacuum Ofl (14%).. Venezuela Ptm(20¢) Vick Fin Corp. . Vogt Mfg Co (2).... Waitt & Bond A (2). ‘Waitt&Bond,B(1.20) annusl payment. 10% Western Pow “West Tab & Sta (2) Wil-Low Cafetert: Winton Engine (4). Woodley Petroleum. 01l & Gas Yukon Gold. Zonite Prod (1.60) RIGHTS. B 3% Con Gas Balt 10 7% New Eng T Divideno rates in dollars hased ob ast quarterly or semi- *E3-dividend. tPartly extra cash or stock. h Pavable in stock d Pasable in oreferred 18% 18% Expire. Apr1 Apr2 33 b% 5% b% B4 110 10 10 10 tPlus extra In stock. a Payadle ta stoek. & (STEEL PURCHASES DECLARED SMALL Second Quarter Business Is Slow in Developing, Says Trade Review. Second quarter business in iron and steel is slow to develop, says Iron Trade Review, Cleveland. Producers, unable yet to discern any definite upturn in the general business situation, are not’ pressing the issue. Consumers continue of a mind to specify against first-quar- GRAIN MARKET. CHICAGO, March 21 (#).—Wheat to- day advanced to a price 9 cents a bushel more than last week’s bottom level. Ar- gentine developments had much to do with the rise, a feature being reports that supplies of good millable when; in Ar- gentina were about exhausted. These reports were in line with advances that the Argentine yield contained a large percentage of poor, light-weight wheat. ‘Wheat closed unsettled 3%al% a bushel higher than yesterday's finish Corn closed 'pal down, oats unchanged ff, and provisions 5a15 advanced. Low. . September RYE— ter contracts, of which the carryover M will be heavy, before making fresh com- mitments. Considering all districts, steel-making operations deciined several points in the past week to slightly under 75 per cent. Except for isolated instances, where pil- ing of pig iron or semi-finished steel seemed preferable to complete shutdown, production has been rapidly scaled down to actual requirements. The practical absence of inventories, both in pro- ducers’ and consumers’ hands, is a strong feature. Latest Orders for Cars. Rail mills and freight-car builders have orders insuring good operating Bookings of track ma- terial, however, are negligible, while equlpment buying continues to slide off from the recent peak. In the past week hopper bodies, the Soo Line pl.ued 400 cars and the Bangor & Aroostock Only 750 freight cars now are pendln' No improvement has developed in the automotive situation, nor is any in pros- pect until seasonable quickens retail selling. Unusual caution is dis- phfid by manufacturers in not-accu- g a surplus of cars, and there roduction. erage with difficulty is traceable di- rectly to the automotive situation. Status of Shipbuilding. Shipbuilding, which n.nen January 1 has been noted more for construction work against um eonm &:n for pcct of mlurlt! of the Jr United States lines. The di h.e lwlrd of mail contracts is expected to bring prompt action on two ships, each re- ons of shapes. Two, lurger shipe, sach of shapes. taking 12,000 tons of plates and uooo tons of shapes, are in All told, this ship 'ott contemplates .0 000 tons of heavy steel. Twenty thousand tons of structural steel will be bol#ht shortly for an ele- u York, with 10,000 ways there. Ohi- g0 reports stru mr-l iwards of 4,500 wnl and inquiry totaling 3,600 tons. ‘The country over, structural steel re- %Inmenu are within 10 per cent of e _comparable period of 1929. This week’s awards, totaling 27,000 tons, com- pare with 32,537 tons last week and 48,019 tons a ‘:n ago, or 1930 m date 399,841 tons bought, com- pnmlwluuu'lnmu-nn-xo. Pig Tfon Prices Lowered. Cos Ingot, production, at Pittsburgh at 75 | Detcos: per cent is slightly lower than last week. Chicago is unchanged at 90 to 95 per cent, Cleveland at 68 at 65 to 'ID. teel sidiaries are at 80 per giving the indus average of nbout 74 per cent. i A decline of $1 in Southern pig iron has lowered the Iron Trade Review composite 5 ee‘r:::h this week, w't‘s’la.l; This compares an average of 4 for February, $35.56 for January and $36.42 for March a year ago. POTATO MARKET. CHICAGO, March 21 (United States Depnmnen?. o( Agriculture) —Potatoes -Receipts, 108 cars; on 262; to- m 952 cars; trading rather ;iow. mar- ket steady; Wisconsin sacked round whites, 2.30a2.45; few 2.50; Hlnnuoh sacked Red River Ohios, mostly 2.70; Idaho sacked Russets, 3.10a3.35. TREASURY CERTIFICATES. o . g IR S & . stg & g NEW YORK BANK STOCKS. NEW YORK, March 21 (#).— ¢ | rangin ; 2.66a | 08 & ipternber NEW YORK COTTON NEW YORK, March 21 (Special).— Cotton, at prices geenerally above yes- terday’s close, seemed inclined to con- tinue its rise of the previous session at the opening of the market today. Near months were from 9 to 12 poinr.s ‘higher. However, there was a moderate amount of )Iquh‘hflm in the distant posi May continued strong on the thecry 1 that the Farm Board may take delivery on long May. Opening prices 15.52, up 12; May, 15.66, up ly, 15.74, 11; October, ld 15.67, up 9; Oc- ; Decembe: 15.80, up 6; D-eember. new, 15.57, up 4; January, old, 15.85, up 2; January, new, 15.57, off 2. CHICAGO LIVE STOCK MARKET| 5% March 31 P) (United Agricult pouna. weights Butc] medium to choice, 250-300 unds, 9.50a10.25; 200-250 pounds, .75810.80; 160-200 Wlmfll, 10.00210.80; 130-160 pounds, 9.85a10.75. Plcktn' sows, 8.25a9.15. eommoneonuluuvmcloutom offerings. ' _Slaughter classes, luerl. lood choice, 1,300-1,500 pgunds, 12.50a14.50; 1,100-1,300 pounds, lflflfllHW‘ 950~ 1,100 pounds, 12.25a15.00. Common and medium, 850 pounds wxu& fed yearlings, good and fitters, good. and” choice, 850 pounds eifers, An down, 11.00a13.50; and me- dium, 8.00a11l cows, good and choice, uon low cutter lnd cut- ter, 4.75at bulls, good and choice (beef), 25; cutter to medium, 6.50a7.90 vulm (milk fed), good and choice, 9.00a13.75; medium, .0029.00, e DIVIDENDS DECLARED. NEW YORK, March 21 (#).— BESE 8838 Z>>>50" ZRARRRgR S5 Freeport Tex Puiton - Trus eigye 0pORERO000D! 83 %0; Easozenany SRRRREEERRS Mfgrs Cas Ins. Min States pr National - Casket N_Y State Hol Er B 38333 g, S Ve 22 iR Aeg o' §§ LA EXn s Ehlfler’ o % R pt 23 =S = 238! >>>>>:a‘ q 5 FORROTON ~ ~ JW 33 222 £OPOODDOLOODOOOOORODOODD b3 3 222> 31 ks 353 l-m-L Lol 3 Ap! Stoek. SltsaSoaet o MR % M Omitted. Bid, Asked. America 13814 - New Yorl United 8 INVESTMENT TRUSTS. NEW YORK, March 21 (#).—Over- the-counter market: Cont i & Gons Dalry Prod.. 1% stk Due Apr. 15. N'Bedtora &'a’znpt +130°a Bae Har. 3o, ' ARUNDEL CORPORATION Baltimore Markets Special Dispatch to. The Star. BALTIMORE, Md.,, March 21.—Po- tatoes, white, 100 pounds, 2.25a2.65; sweet potatoes, barrel, 2.00a3.00; yams. barrel, 2.25a3.25; asparagus, dozen, 2.50a 6.00; beets, crate, 2.50a3.00; beans, hamper, 4.50a6.00; cabbage, hamper, 15a1.00; carrots, bushel, 1.00a1.15; cauli- flower, crate, 1.75a2.50; celery, crate, 2.25a3.25; eggplants, crate, 3.00a5.00; lettuce, basket, 1.00a2.50; kale, bushel, 90a1.00; onions, 100 pounds, 1.50al.85; peppers, crate, 3.00a5.00; parsnips, bas- ket, 30a40; spinach, bushel, 1.10a1.50; squash, bushel, 3.00a4.50; tomatoes, crate, 2.00a5.00; turnips, lumper 35a50; ;I_),gl!! bushel, 75a3.00; grapefruit, box, ad. Poultry, alive—Turkeys, pound, 33a40; old toms, 26a28; chickens, ywnl. 32a40: Leghorns, SBI!U' old roosters, 17a20; capons, 32a38; ducks, 17a30; old hens, 26a28; Leghorns, 20a26; guinea fowls, each, 40a65; pigecns, pair, 30a35. Eggs—Receipts, 2,620 cases; nearby firsts, 243(a25; hennery while, firsts, 25%a26; duck eggs, 40. Butter—Good to fancy creamery, pound, 36a40; ladles, 31a32; store plx::kegz 18a19; rolls, 25a28; process, 72832, Hay and Grain Prices. whut,—Nn. 2 red wmm. export, 07% 2 red Winter, garlicky, spot, 5/. M-rch 1.08%; No. 3, garlicky, no quotations. Corn—No. 2, domestic, yellow, new, 95a96; cob corn, new, 4.65a4.75. Oats—No. 2, white domestic, spot, g:-ss No. 3, white domestio, spot, Rye—nearby, 80a85. Hay—Recelpts, none; no change in mlrket. some little hay is arriving, but| dly enough upon whh:h to e:ubnsb quomlonsmzy grades. Better grades of clover mixed are -mu from uoo-zzoo per ton, according to quantity and condition, receipts by truck suplying most requirements. INCOME SHOWS GAIN 1al Dispatch to The Star. ALTIMORE, March 21.—February, ordinarily a lean month with construc- tion companies, produced $44,440 more net income for the Arundel than the corresponding year. Net income was $130,121. For the first two months of the current year net income after all deductions was tsinomm&rfllmnmlwmuh 1929. Curr!nt-uehltuuendol $5,041,292, while mn{'bflnnw tlzs'ms'luol'l a ratio of more than 6 to 1. Cash alone amounted to $717,- FORM NEW GROUP W. Preston Gibson Elected Chairman of Unit Repre- senting Four Counties. Special Dispatch to The Star. ROCKVILLE, Md, March 21 —Sev- enty representatives of more than 30 national and State banks of Montgom= Howard, c-nou and _Frederick Counties met at the Manor Club, Nor- beck, yesterday afternoon and organized group 2 of the Maryland Bankers’ Asso« ciation. W Preston f3ibson, vice president of the Takoma was made cha 14 | Westminster, H. Owings of)Ellicott City, secretary- treasurer. CHarles P. Mathias, vice president of Cehtral Trust Co., of Fred- erick, was selkcted to represent the ittee of administra: Heywmd Boyce, president of the Dro= vers & Mechanics’ Bank, Baltimore, and president of the Maryland Bankers’ M- sociation, and James W. McElroy, president of the First National mnk. Baltimore, and secretary of the State association, were guests of honor. spoke briefly, Mr. McElroy's remarl being largfel{,enn explanation of the urposes of ti up. p Tlg:! ‘meeting “1;0“ conflucted by Mr. Gibsort, who arranged it at the ln.ltuw‘ of the Maryland Bankers’ A constitution nnd by-laws, confum!uc to those of r groups in the State, w» adopted and other matters d to get the organization off to a good start given attention. Preceding the meeting all in attend- :&ge were lum:henn guests of those from It w-s ltlted that the entire State h being organized into groups—seven in all—under the dlmmn of the Maryland B.Illl’kers Assoclation. 5a5.50; straw- oy RETAIL FOOD PRICES SHOW SHARP DECLINE ‘There was a sharp deeline of about 174 per cent in the retail price of foods in the period from January 15 to Feb- ruary 15, the Bureau of Labor Statistics reported today, and a decrease !or the year of slightly less than 1 per cent Mueto(theprlnpdl’wfltuflsot the family table dropped in durlnl the month, the Imran hay data on plate beef, pork’chops, vegetable lard substitute nfi' tea, less than five-tenths oranges, 6 per ham, hens and butter, 1 per cent, and sliced bacon and wheat cereal, less than five-tenths of 1 per cent. Guaranty Fire Insurance Co. of Providence On the Slat m“ox December. 1 the District Eorump Jine’ 30, 19032, A!m‘l- Sapital stoek, cash $750,000.00 7150,000.00 9, 2 . pun 7 . 2,131,015.00 remiums in hands of agents. 336, or only $67,581 less than current liabilities. The company also owned $415,810 marketable securities on Feb- ruary Pt e *BANK CLEARINGS. NEW YORK, March 21 (Special).— New York bank clearings, today, $1,- 517,000,000; a year ago, $1,768,000,000. New York bank balances, today, $180,~ 000,000; & year ago, $200,000,000. New York Federal Reserve credit balances, mdly. 31710000?0 a year ago, ll“.~ e WOBIJ) (‘OPPEB. OQUTPUT. “):‘FWM YOR?, March 21 (A’)’-;World production of copper bruary amounted to 139,229 short tons, com- ptredm'".h mzu in Jlnulry and 167~ the American Burnu o( Metll Statistics. L gk Stock Increase Planned. NEW YORK, March 21 m—!hfi Michigan Steel Co. plans to increase its authorized capital stock from 220,000 to 500,000 shares. —_———— SHORT-TERM SEG!TRITIE& (Reported by J. & W. senm-n Allis-Chalmer: American Tl %l si0e i ‘hre: d g:ltlml)!lrfi' Ohio ‘Vj‘lv.l'fl}nu ‘ofl u’ c-n.T i u iddi: s 1932, ‘;; x Cgke “3! 1930 99 Km 9 hll’! Oll Co cr 29 ghel U, orm, $ias 1hin inclair Cride ol oo, s tandard Oifl N. Jer: 1946 1 i} '"“!'LE&"&,‘ 5 1581 10 1 t. Southwestern 2 9 WAL & Co; 58 1093, . ers 1 nion, OUf o of Caite 5, nu Ranedn: et € e RS STOCK AND BOND AVERAGES By the Associated Press.. From Yesterday's 5:30 Editlon. STOCKS. Today ....i..:“ Week ago. Year ago. Interest due aud other assets BOribE ‘the Sear 1039 $267,872.809.00 Losses sustained during 1929 524,180.83 e Money_ received the ot 1me. 1,135,003.44 it. ‘EMIL G. TUNIS Secretary. d niiscribed and sworn to before me (8eal) JOHN P. mml Geo H. Price Co., Inc. Standard Accident Insurance Company of Detroit, lli:l. On the 31st di of Feauired under " the n-s"r?u nzngolnm Gode, amended June 8, 1011. Capital stock .. . . $2,500,000.00 | Capital ‘stock, " paid" us, in Qash n office in bank o Ty bensation Reinsur “&':‘é":n:,‘-’*‘f““‘ e Ingursnce.