Evening Star Newspaper, March 26, 1930, Page 15

FINANCIAL, *»% A—15 FINANCIAL, THE EVENING STAR, WASHINGTON, D. C, WEDNESDAY, MARCH 26, 1930. DL SHARES LEAD: i Public Utilities Also Featured in Active and Strong Market. BY JOHN A. CRONE. i#30@hectal Dispatch to The Star. sh# NEW YORK, March 26,—Petmleuml and public utility issues led an active ::d moderately higher Curb market to- ¥y American Light & Traction was the star of the power and light group as it Jumped 28 points to a record high level. This movement followed the announce- ment of a four-for-one split in the stock. The new stock opened at 72% and rapidly rose to 75 before mid-day. Pivotal. utilities such as Electric Bond Share, American Superpower, Utili- ties Power & Light and United Light & Power A got a slow start, but around midday made better headway. Brazilian Light & Traction, on reported Loncon buying, moved to its highest quotation of the year. eneral Baking Co., operating subsid- fary of General Baking Corporation, was the most prominent of the food stocks. The preferred, which recently halved its dividend, rose 2 points and common came out in blocks at fractionally higher prices. The advance reflected completion of financing ar- rangements for the sale of $7,000,000 of 51 per cent 10-year debentures for the purpose of funding part of the $16,- 000,000 expenditures made in the last four years in an expansion program. ‘Three Standard Ofls, Humble, Ohio ©Oil and Standard Ol of Kansas, led the in Petroleum securities. They ‘were followed by miscellaneous oils, in- eluding Indian Territory Illuminating and ‘the low-price Intercontinent , both of which scaled their Anglo- lean Nitrate was the leading mine share in early dealings, but New- later in the session. Gas was the first of its di- . Regis point of view is more n & manufacturer, tes Pinishing also regis- highest prices for the year. DIVIDENDS DECLARED. NEW YORK, March 26 (P).— i i H iK!EEEKIKIK"G >~ ; 3 o ntrnarestasara inats Bt S oo EEH £9 £ e 0ODODOODDS POBDOOOOOOOOD: : faRRaREER >PEEE V8gggus 38 AgIs" 1 & ; Apr. Apr. Apr. Initial. McMarr Stores ... 3035 Q May 1 Increased. Hall Printing .. B0 Q Apr. 30 Apr. 19 TREASURY CERTIFICATES. IG.HF:.B & Co.) 1 100 1t e g 100 100 #..18 FOREIGN EXCHANGES. €Quotations furnished by W. B. Hibbs & Co.) 5 * n@.wfigi s s s o e 283832333 FOSSORS 3 oS 3 W 3’*&\*#% Sseisaieasss & FESSFE W S38snes s8s8ss o E22s: - Eois ém F soregt 22332538328 i 8555 eets! £, 28838288 RS SEE RS = e I S ST o WSS PR FORREE &R 28223288382, = 2R2322323833222882328-833828088: SESSW 3Sges ¥ F SN SRESRY SRR 55 S awe swlawe I SERNRES RREES Ees§ianseatitasensnsy ESge8Sengeesty: B 8 mo U umaEerao S ST ot arnes et s e S s uus e ezs 9 BE: sz IEF I AT FTEFE FFF ey B (3 g SN 10 e € 3 & o 28828 W = . T & A aw o0 ww—With warrants. XW—_Without warrants, VioWhen issued. Aero Sup Mfx Aero Underwriters. Axfa Ansco. . Alr Investors vte. Alr Inv Ine ev pr. 5 Ala Gt Sou pf (17).. 10s 140 Allegheny Gas Corp. % Allled Aviation. ... . Allled Int Inv pf (3). Am Beverage Corp. . Am Cit PAL A Am C P&L B (b AmCwith P A Am Hardware (15) Am nvest IneB.... Am Investors (war) Am Laund Meh(4). . 1258 Am Lt & Traet (10), 172 2 Am Light & Tractn. 39 Am Lt & Tr pf (6). Am Phoenix Corp(3) Am Pneumatic Serv. 2 Am Superpower (1). 549 Am Superpow pf (6) 1 Am Suner 1st pf (8) 1 Am U&Gen B vtc 40c B8 Anchor Post Fb10% 13 Anglo Chil N!(rll:.. . 531 Arkansas Nat Ga: 8% Arkansas Nat Gs! At Atlas Plywood (3). .. Auto Musie (A) (1).. Auto Vot Ma ev pr pt Aviation Corp of Am (12) . Biiss Co (E W) (1).. Blaw-Knox Co (134). tdge Corp. ... Blue Ridge cv of (a3) Blumenthal (S)..... Bower Roller Bear. .- Brazil Tr & Lt (3)... - » Snaativons S oo e I = Yer Cen States El ($40e) Cen States El war. .. Centrifug Pipe (60e) Chain Stores Dev.... o Shemas PR e Columbia G & Columblia Pictures. . Com'with Edison (8) cn-"l’n & Sou war.. 10% Con Retail Strs 44 Construction Mat. Coj d Prod or Wh . 32% Cross & Black (3%). % Crown Cent Petrol. .. % Cuban Cane pr opt w. 84 Cueno Press (2%)... 1% Curtiss Wright war. 1 Cusi Mex Mining. 699 699 6! 187% 144% 6 4% “ oil 5% Detroit Alrcraft Cor, 8 Dix Gas & Utild: 22% Castin, 18 Douglas Alr (760). .« 20% Dres(SRIMIg A3%. Driver Harris(new). Dubilier Cond&Rad.. Duke Power (35).. Durant Motors. Duval TexSul wl.e 1 EastGas&F Asso.. 1 EastG&FADI()e 1 East Sts Pow B (1).. 63 Eastern Util Assoey 12 Eastern Utll Inv A. . pire Pwr Corp(3) Emp Pub 8v A(1.80). Empire Steel Corp. .. Employ Reinsur 13« Europe El Ltd opt w. Fabries Finishing. .. Fairchild Aviation. ., % Fandango Corp....e Federal Screw (3)..v Fiat Stkdebrts..... Fiat receipts (1.35) e Financial Inv N Flintkote A (1.50)... Florida P&Lt pf (7). Fokker Afreraft..... Foltis Fischer Corp.. Ford Motor Can A. Ford Mot of France. » = S NorvanSnommnanng Boar Nee 6% Gen'al Alloys (80¢c). 2% General Baking..... 34% Gen Baking pf (3)... 10% Gen E Ltd rcts (§0c) 21 Gen Empire Corp. ... 86 Gen Gas&El ev pf(6) 8 Gen Indus Aleohol. 7% Gen Laundry Mach. 82 Gen Petrol Corp wi.. 9% Gen Rity & Utilities. 69 Gen R& Ut pf (6)se -t o s - oSNl Ren Bhn- round Gripper 1 1 18 131% Gulf Oll of Pa (1%). 152% 2% H'dPageppf(lde).. 1 3% 3% R s A 5 Helena Rubenstein. . [] 5% 6 41% Horn & Hard (3%).. 2 45% 46% 46% &5% - Stock and Dividend Rate. % Hudson Bay M Humble Ol (2) Hydr Hyerad imp Of1. Can ¢60¢) Indian Terr illum Ind Fin b10% insull Ut Inv(b6% InsCopf N Am (13). Insurance See (1.40) Intercoast Trade (1) Intercoutinent Pet n Internl Petrol n (1).. Int Safety Raz B 13.. Intl Superpow (111 Internal Util A(3%) Internati Ut B...... Internat Util (war). Irving Afr Ch (1.50). Italian Superb war.. italian Superpow A.. Jefferson B (13%) Kirby Petroleum Klein (H)pt pf 11 Kleinert Co (234) Kobacker Stores Kolster-Br (Am Sh| Lackawanna Sec(4) Lefcourt Real t1.85. . Lehigh Coa'&Na Leonard O1l. Lerner Stores Ley (FT) & Co ( Libby McNell & L. Lily T Cup (160) Lone Star Gas (1). Long Is] Light(60e Lan Mfgs Fin Co v.t.C.... Mangel Strs pf (6%) Mapes Cons Mfg (3) Marine Mid Cp (1.30) # Marland of Mexico. . Marshall Field & Co. Mavis Bottling..... Mayflower Asso (32) Mead Johnson (3% ) Memph Nat Gas Co. Mer Chap & S(1.60).. Mer & MfS A (1.50). Mid West Ut B war Miller & Sons (2) Miller Rubber pf. Miss River F Cp war Mo KanPL (b10%). Mohawk Mining(12). Monroe Chem (1% Morison Elec (31). Mount Prod (1.60). Nat Amer Co. Nat Aviation Nat Casket pf Natl Fam Strs (1 Transit (1). Neet Inc ev A (1.60. Nevada Cal Elec. Newberry(JJ)(1.10) New Eng Pow pf (§) New Hav Clock 11%. New Jer Zino (14).c. Newmont Min (34). Newport Co (2)... N Y Invest (1.20). N Y Rio&Bu Alr N Y Tel pf (63%).. Niagara Hud P(40c) Niag Hud Pw A war, Niag Hud Pw B war, Niagara Shares Md... Ntles-Bement-P {33 Nipissing (30¢c). Noranda Mines (3). North Am Aviation.. No Am Aviat A war., % North Am Util Sec. . North 8t Pow A (8).. Novadel Agene (2).. Ohio Brass B (§) Outbeard Motor (B). Pacific Coast Bis. ... Pac Coast Bis pf 3.50, Pantepec Of . Param’t Cab (b8%) .. Parke Davis (11.45). Pennroad Corp...... PennGas&E A (1%) M 9% Plerce Goverar(1%). 10% Pilot Rad T A (1.20). 10 Pitney B Pn (20¢)..) Plymouth Oil (2) Polymet Mfg ( Power Securities pf. Pratt&Lambert (16) Premier Gold (34¢) .. Prince & Whitely.... Prince&Whitely pfS. Propper McCallm(3) Prudential Inv... Pub Util Hold war. .. PugSP &Lt pf (6)a Radio Prod (50)..... RainbowLumProd B. Red Bank. .. Red Warrior, . Reeves(Dan'l) (1%). Reiter-Foster (40¢).. Reliable Strs (b§%). Rel'nce Managemnt.. Republic Steel n wi., Rep Steel cum pf (6) Reynolds Bros In Reynolds Met n 3.4 Rich Ol Cal pf (1.76) St Rexis Paver (1) Safety Car H& L(3). Sait Creek Prod (2) . Schift (The) Co (2) Schulte Un be-$1 Seaboard Utilit! Seeman Bros (3) 2 Lock & H (50¢) e SoCal Ed pf C(1% Southern Corp. 80 Ice & Ut Southland Roy S W Dairy Produc 8 W Gas Ut Stand Cap & Se: n) Stand Inves pf(5%). Standard Motors Stand Oil, Neb(1334) Sales— eRaaneSnarurSanBornrinan BeBrreeSagn onred s orhamnZ e~ @ E o © » o 3 3 8 » » o roRonmTraononSrnsBonefon Sumang o e Loklrvanunol 0wend S8Rxad [T 198 P T T T I=T PSPy » SR s © wo - Sl reRarhoaneorma M I~ T E- ISP P 8t Ol of Ohlo (334). 6508 2 Stand Pow & Lt. Stand Pwr & Lt. B, Starrett Corp....... Starrett Corp pf (3). 8 11 SteinA&Co cu pf 6% 1008 Stein Cosmeties Ine.. Sterch Br St (1.20) « Taggart Corp (1).... Tampa Electric (33). ‘Technicolor, Ine. 6 Con Alr 414 Tr-Lux DL P8 (A). 11% Tri-Continental Cor. 4 Tri-Cont Corp war., ., 75 Tri-Cont Corp pf(6 6% Triplex Safety Glass 40 Tri Utilities (31.20).. P - . BeRofavilruninvaRans Low. 2:58 12 12K 1134 115% 4T% 474 12% - 12% 27% 2T% 44 4 2 N 691 69% 83% 84% 21% 21% fnn 1% 1% 22 22% 2% 12 all 44 ~Prev 1930.~ Stock and Sates— Low. _ Dividend Rate. Add 00. 45 TriUtilities of (3).. 2 Trunz Pork S (1.60). Tung-Sol Lamp (2). Ulen&Co...... Unfon Amer Invest. . Tn Nat Gas, Can 1.60 Union Tobacco 5 Utd Carr Fastnr 1.20 Uni Chem pt pf (3).. United Corp war. ... Unit El Ser pur war. Utd Founders(b2.35) United Gas Co. . ted Gas new . United Gas war. Utd Lt & Pwr A (1). Uté Lt & Pwr pf (6). Unit Molasses Ltd United Profit Shar. .- Unit Sh Mch (13%).. U S Dairy B... % USFoll B(1).. 4 US&Int Se 3d pd 3% . US Linespf (1)..... U 8 Rubber Reclaim U S Shares Fin. . Unit Verde Ext ( United Zinc §melt ~Prev 1930.— High Low. Vick Fin Corp. Walgreen Co. Walker (H) (1). Warren Bros...... Watson (JW) Co 3 3% White Sew M derts. 2 West Alr Exp 160¢). 44% West Tab & Sta (2). o B4 34 Stock and Sales— Dividend Rate. 58% 53% Universal Ins (3%). 808 55 &l 51 55 % % Utah Metal & Tunnel 1 4 3 % Utility Pw & Ltial). UHIP&L B etfs (al). Add 00 Open. Utility Rauttie Vacuum O (t4%).. Van Camp Packing.. Van Camp P pf(1%). 28% ¢ Winter (Benj)...... 4% 5 19 27% 17% Zonite Prod (1.60)... 20% 20% 20% 24% RIGHTS. % o4 . Divi 9% 1+ | annuai_peyme: =~ 3% Con Gas Ralt 19% 13 13%| 10% 7% New Enz T T.... vmomnu- In dollars hased op st guarterly or semi- 56 & 678 1 10% 10% 10% 10% i *Ex-dividend tPartly extra tPlus extra fp stock s Earsbie ts 2% 2% cash or stock © Payable in stock d Pavable NEW SECURITIES NEW YORK, March 26 (#)—New security offerings today include New York, Chicago & St. Louis Railroad Co. (“Nickel Plate” System) $12,000,000 (additional issue) refund- ing mortgage 4, per cent gold bonds, series “C,” to mature September 1, 1978; priced at 97!, and accrued in- terest, to yield 4% per cent. Offered by a syndicate composed of the Guar- anty Co. of New York, Dillon, Read & Co. and others. | City of Vancouver, British Columbia, $4,055,000 5 per cent sinking fund (non- callable) gold bonds; due in varying amounts from May 20, 1939, to June 1, 1969; priced at 100 to 101.75 and yielding from 5.00 to 4.90 per cent, ac- cording to maturity, Offered by A. E. Ames & Co., Ltd.; the Bank of Mont- real and others. RAIL FREIGHT TRAFFIC. By the Assoclated Press. Trafic volume on American railroads provec to be on the up-grade when the Amcrican Railway Association total of car loadings for the latest week em-v mated was announced today. The load- ings for the week and comparable periods are as follows: ‘Week ending March 15, 881,187 cars; preceding week, 873,548 cars; same week last year, 958,801 cars. Lumber products, miscellaneous freight and merchandise were among 50 Two years ago. . 159.7 Three years ago, weekly avet.. 1115 High (1930) o AN Low (1930). .166.5 * New hij | | | Two years ago... ‘Three years ago, weekly a Industrials. .190.0% the freight categories which showed an increase for the week over recent weeks this year, though coal and ore loadings were still down from levels attained in previous periods. STOCK AND BOND AVERAGES By the Associated Press. From Yesterday's 5:30 Edition. STOCKS BONDS. 10 Industrials. 94.2 right. 1930, Standard Statistics Co.) S ———————— NEW YORK COTTON NEW YORK, March 26 (Special With continuing uncertainty over the Farm Board’s intentions in regard to the new crop positions, cotton prices opened unchanged to 6 points lower today. Ring sentiment seegued to favor the view that there is no basis for an advance just now. Southern houses sold. Liverpool and the Con- | tinentt were inactive. Opening prices were: May, 1560, unchanged; July, 15.62, off 3; October old, 1540, unchanged; October new, 15.10, off 5; December old, 1550, off 6; December new, 1525, off 4; Janu- ary old, 15.55, off 6, and January new, % 1531 off 4. GRAIN MARKET CHICAGO, March 26 (Special).—The wheat market was lower today under selling influenced by the weaker cables and the favorable weather, but prices rallied shortly after the opening on buy- ing credited to the Farm Board. May opened 1.07%a1.07%, July 1.04%al 0415, September 1.061,a1.07. After first half hour, May 1.09%, July 1.05%, Septem- ber 1.073. Corn was influenced by the action of wheat. May opened 84,a84, July 8575a85%, September 85'.a86. After first half hour, May 843, July 86, Sep- tember 86'4. Oats were quiet and fol- lowed other grains. May opened 43¢, July 43. After first half hour, May 33%, September 43%. Provisions sold rm Butter—One-pound _ prints, 41ad2; tub, 40':a4l. Eggs—Hennery, 26; cur- rent receipts, 24%:a25. Poultry, alive—Turkeys, young, 32a33; old, 28a30; Spring broilers, 40a42; Win- ter chickens, 32a35; Leghorns, 30; fowls, 28; capons, 32a35; ducks, 15a16; keats, 60a65. Dressed—Turkeys, young, 35a38; old, 32a35; Spring broilers, 45a46; Win- ter chickens, 37a38; Leghorns, 32; fowls, 32; capons, 35a40; ducks, 30; keats, 80a90. Meats, fresh killed—Beef, 20a23; veal, pork loins, 28a30; 22; in bulk, 13. Live stock—Calves, 8a13; lambs, 10a 13; Spring lambs, 20. The attendance in the local broker offices is reflecting the renewed public interest in the New York Stock Mare ket. While brokers are cautious in mak- ing predictions, they do say that the long range outlook appears more en- couraging. YOU ARE PAYING FOR A PACKARD Wéy not own one ? The First Cost of Ounership. Just because the first cost of one automobile is lower than another, it does not follow that depre- ciation is less. Depreciation—one of the major costs of motoring— depends upon the length of time the owner keeps his car. Suppose you are driving a car of similar size to a Packard Standard Eight—but lower in price by half—and trading it in every two years or so. You are paying as much depreciation as you would on the Packard, pro- viding you keep the Packard twice as long. The After Costs of Ounership. Lower first cost does not mean lower operating and maintenance rates, either. Gasoline, oil and tires cost as much for a half-price car of like size as they do for the Packard Standard Eight. So do license, insurance, garaging and repairs, in the aggregate. It costs you as much, therefore, to operate a half- price car as it would a Packard—and you do not enjoy the beauty, comfort and distinction, the luxury of Packard Eight transportation. The Natural Conclusion. Why not get what you are paying for? Let us appraise your present car. If it is of average value it will make or exceed the down payment on your new Standard Eight— and the remainder may be arranged on convenient monthly pay. ments. It costs no more to own a Packard. Why not buy one now? The price of the most popular model of the Packard Standard Eight—the five-passenger Sedan—is but $2485 at the factory. Ten other body styles are available on the 127% and 1343-inch wheelbases at from $2425 to $2885. Packard Washington Motor. Car Co. 0. COOLICAN, President Connecticut at S Open Evenings