Evening Star Newspaper, March 31, 1930, Page 14

f -FINANCIAL, WASHINGTON BANK DEPOSITS INCREASE Substantial Gain Recorded on Controller’s Call—Sav- ings Total Boosted. BY EDWARD C. STONE. Controller John W. Pole issued a bank call today asking for the condition of all ‘Washington banks as of March 27, 1930. First figures show that total deposits in the local banks have increased sub- stantially since the last call on Decem- ber 31, 1929. Of the first 30 local banks from which deposit_fig- ures were obtained, 19 showed inereases over the last call, and 11 revealed a falling off, the in- creases being al- most in the ratio of 2to L. Local bankers have been predict- ing a gain in total deposits for the city for several weeks. Ever since the Wall Street tumble in stocks, there has been an effort all over the country to get money back into the banks, This drive has been reflected here, today's figures proving a definite move in many quarters to build up bank deposits. Savings Banks Boost Deposits. In the savings bank group eight local banks reported lc -~ deposits than in December, while thic: .2ported moder- ate declines, The trust company group revealed an even break between gains and declines, three being up in deposits and three lower. Washington's seventh trust company—the Continental—has merged with the Commercial National since the last call. The national bank group also shows more increases than decreases in de- ts. Riggs National shows the largest gain in total deposits, $48,664,702, against $46,012,12¢ on December 3, 20, “'rhe call came at an opportune time for the banks. Their deposits were Jowered by income tax payments on ‘March 15, but at the same time the big personal tax payments wers not due until today, March 31. Money for the majority of the last tax payments is still the banks. mlt -eh impossible to reach all the banks between the notice of the call and the time of going to press. Com- ete Teturns from every bank in Wash- Em will be published shortly. Today's , however, reveal a strong up- ward trend in deposits which will be highly gratifying to the local banking raternity. 8 Pclluwgn: is a comparison between local bank deposits on March 27, 1930, and the call of December 31, 1920: Local Bank Deposits Compared. gy G. Bowie Chipm ‘Banks. . $8,150,457 S 1 Nattona Gapital Rises nd o rrrag B §2a58kzaduns S3nGa8Y (% B 38 1B Continental ... Merchants’ Bank & Tr. jational Sav. st Union o8l gRgREsea D. C. Bank Clearings l-mvet:. An improvement in local bank clear- ings mm:eveued in the total figures for the month of March, reported by g5 696.73 inst $96,545,212.86 in Feb- ruary. .ghfle they showed a sub- stantial gain over the previous month, they were far below the record for March, 1929, when the figures for the month stood at $131,795,928.93. The total for the first three mmnths of this year is far behind the totals for the same period last year. Chipman on Van Camp Board. ‘Word was received from Indianapolis Chipman, resident & Co., has been elected a director in the Van Camp Packing Co. ‘The Van Camp Co. is one of the oldest food concerns in the country, having started in business in 1861. About a year ago Mr. Chipman was elected director in the International Mercantile Marine Corporation, of which P. A. 8. Franklin is president. Trading on D. C. Exchange. ‘The week started out with a fairly active trading on the Washington Stock Exchange. Capital Traction opene: with 26 shares selling ex-dividend at 79%,. This sale was followed by three 10-share lots changing hands at 79. Potomac Electric 5% per cent pre- ferred sold at 108%; and the 6 per cent preferred at 97 and 967. Peoples Drug moved at 107. There were several sales recorded at recent levels. Nearly all the bank stocks on the list are not quoted ex- dividend. North American in Merger. Announcement was made in San Francisco today that the Pacific Gas & Electric Co. and the North American Co. are planning a merger to take in several smaller gas and electric com- panies in Northern California, which ‘would result in a $650,000,000 corpora- tion. The North American Co. is the utility concern which owns a large block of stock in the Washis Railway & Electric Co. The announcement of the proposed merger was made by the presi- | dent of the Pacific Gas & Electric Co. GRAIN MARKET. CHICAGO, March 31 (Special) —The wheat market was lower today under selling influenced by the lower Liver- pool market. That market was off cause of the pressure of Russian wheat. The forecast for rain or snow over our Winter wheat belt also caused some pressure. Support developed when ‘Winnipeg failed to show weakness. May ened 110 to 1093, July, 108% to %; September, 1103 to 110%, &f T alf hour, May 110; July, I H ho? ne.. 3 opened 8314 to 83%, July, 85% {0 85%: September, 85% to 85%. ~After the first half hour’ May was 83%, July, 85%; e “ui-'dy May opened 43% ats were steady. n to 437 ber, 4215, After 'the :\rfi half hour, May, 43%, September, 215, Provisions were easier with hogs. NEW YORK COTTON NEW YORK, March 31 (Special).— ption of trading on the the Continent were were: May, 16.00, old, October, 3 October, new, 15,43 up 11; ber, cld, 15.17, up 12; Dcember, up 14; January. €. 15.80, NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. (Continued From Page 13.) Srerine~ Stock ano 2514 McKesson & Rob (2) 41% McKes & Rb pf(334). 14% MeLellan Store: 70 , Mack Trucks (6).... Macy(RH) & Co(n3) Magma Copper (5). . Madison 8q G- (13%). Mallinson & Co. . Man Elec Supply. Man Elev mod (d5).. Marmon Motor (3) Martin-Parry....... Mathieson Alkili (2). 11 Melville Shoe (2) Mengel Company (2) Metro Gold pf (1.89). Mexican Seaboard. Miami Cop, Yeos Michigan Steel (3% ). Mid-Cont Pet (2).... Middle States Oll et. Midland Steel (3).... Miller Rubber....... Mion Moline Pwr.... Minn & St Louis. ... 1 Mo & Texas. 138 Mo Kan & Tex pf(7). 5 Mohawk C Mills (3).. % Monsanto Ch (g1%). Montgomry Wrd (3). Moon Motors. . Morrell & Co (4.40) Mother Lode (40¢). . Motor Meter G & E. ., Motor Products (2).. Motor Wheel (3). Mullins Mfg. MurrayCor(b2 % stk 4 Myer(FE)& Bro (2). Nash Motors (6). Nat Acme (1%). Natl Alr Trans.... Natl Bellas Heas. Natl Be! Hes pf () Nat Biscuit, n (2.80), Nat Cash Reg,A(t4). Nat Dairy (32). Nat Distillers (2) 2 83 % Natl Enameling (2) National Lead (18).. Natl Pwr & Lt (1)... 4 Natl Radiator.... Natl Radiator pf. Natl Ry Mex 1st pf. o o reanssaronnErlalvanhossnsn L North Am pf (3).... North Am Ed pf (8). Nortbern Pac (5) Norwalk Tife & Rb. O11 Well Supply. Oliver Farm KqQuip. . Oltvr Fr Eq ev pt(3). Olivr Fr £q pf A(6)w Omuibus Corp...... Otis Elevator n(2%) Ouis Stee} (2%)....0 Otis Steel pr pf (7).. Owens ill Glass(nd). 79 24 5 Panhandle P & R. Paramount-F-L «4). Park & Tiiford (33). Park UtaB..ccuvesee Parmelee Trans 1%.. Pathe eeenn Pathc Exchange A. Patino Mines (3.89).. Peerless Motor Car. Penick & Ford (1 Penney (J 8) (3 Pen (JC) pf A (6 » Penn Dixie Cement. Pennsylvania RRi4) Peoria & Eastern. Pere Marq pf (5). Phelips Dudge (3) Zrolomanaa - IS 4 Phillips Petrm (n3). . Phoenix Hoslery. Plerce-Arrow A. Pierce-Arrow pf (6). [ - R T TP SIS JRPROTEEFS Pillsbury Flour (2). Pirelli of Italy(3.14). Pittsbgh Screw 1.40.. Pitiston Company... Poor & Co (B) (2)... P Rican Am To (A)7 P Rican Am To (B).. Prairie Ol & Gas(2). Prairie Pipe L (15).. Pressed Steel Car. ... Proc & Gamble (3). Pure Ofl (1%). Purity Bakeries (4). Radio-Kelth-Orph A 145 Raybestos Man 2.60, Reading (4)... Reading 2d pf (3) Real Silk (5). Rets (R) & Co. Refs (Robt) & Co pf. Rem Rand (1.60. Reo Motor Car (.80). Repub Ir & Steel (4). Rep Ir&Stl ctfs (4).. Rep Ir & St1pf (1).os Reynolds Spring. ... Reynolds Tob B (3).. Rhine W El P (2.16). 93Y% Safeway Stores(eb). 48% St Joseph Lead (13). Fran 241 Savage Arms (2) 4% Schulte Retall Strs. Scott Paper (31.40).. - 9% Seaboard Alr Line... 82 Sears Rosbuck (33%) 9% Second Natl InVe.... 21 Seneca Copper. 7% Servel Ine..... 22% Sharon Steel H (2).. 36% Shattuck(FG)(11%) 21 Sheil Union (1.40)... 100 Shell Un Ofl pf (5%) 8% Shubert Theatres. .. 18% Sales— Dividend Rate. Add 00 High. Low. 65% ¢ 63% 108% 108 6 94% 93% 1 140% 138% 6 25 98 59% 12 4% 2% 108% 104 13 23% 1 103 2 16% 16% 164 16% THE EVENING STAR, WASHINGTON, D. ~Prev. 1930.— High. Low. 94% 37 22% Simms 29 45%, 16 33 5 64 98 58 25% 77 19 11 78 33 215 97 15 60 s 51 75 26 3 2 132 467% 484 20% 21% 22 224 31% 814 % 1% 26% 26% 5% Websi 140 37 10 31 109% 110% 83 - 82 26% 24% 6% 5% 56% b52% 9 T 35% 36% 46% 454 127% 127% 51 50 62% 62% 5 4% 33 31% 42% 43% 13% 14 80 7% T6% 5% 113% 114% 27 42 88 8 68 1 Stock and Dividend Rate. 43% Simmons Co (g3 21% Sinclair Con Oil (2. 28% Skelly Of1 (2).... 60% Sloss-ShefMeld pt (7) 5% Snider PAcking...... 95% Solvay Am In pf 6% 24% So Por Rieo Sug (3).. 56 Southern Cal Ed (2). 119% Southern Pacific (6). 123% Southern Rwy (8)... 98 * Southern Ry of (§).. 90 Sou Ry M & Oct (4). | Spalding(AG) (2) 19% Spang-Chalfant..... 13% Sparks Withngtn(1). 207 Spencer Kelg (1.60). 39% Spicer Mfg pf (3). 22% Stand Brands (1%4). 1173% Std Brands pf (7)... Stand Comm Tob.... 109% Stand Gas & El (3%) Stand G& Epf (4).. 10 Stand Invest Corp... 56% Stand O of Cal (2%). Stand O1l Exp pf (5). 37% Stand Oil of Kan (2). Stand O1l N J (12).. 31% Stand Ol N Y (1.60) 10% Sterling S0 A...... 12 Sterling Sec pf(1.20) 36% Sterliug Sec cv pf(3) 88 Stew-Warner (h3%) Stone & Webster (4). Studebaker Co (5) Thompson Starrett. . 10% Tide Water Asso 60c. Tide Wat Asso pf (6) 14% Timken Det Ax(80e). 70% Timken Roller (3) 16 Truax Traer (1.60),. Truscon Stl (g1.20 22% TwinCity Rp T (4 97% Und-Eli-Fisher (8).. 10 Union Bag & Pap 76 Union Carbide (2. 41'4 Union O1l of Cal (32) Union Pacific (10)... Union T'k Car (1.60) 43% Utd Atrerafi& Trai 56 Utd Alrcraft&T pf 36 Utd Biscuit (1.60) 44% Utd Carbon (2 86% United Fruiv(4) 31% Utd Gas & Imp(l.. Utd Gas & Im pt (5).. 7% Utd Paperboard..... 25 Unit Piece Dye W (2) 4% United Stores A..... 15% Udt Stores pt. 98% U S Ind Alcohol 74 U S Leather. U S Leath: 18% USPipe & 15% U 8 Pipe 1st U S Realty (6) 21% U S Rubber. 31% Utll Pwr&Lt A « 4 Vadsco Sales Corp. 49% Vanadium (14)....0. 871 Vick Chemical (33). 5% Virginia-Car Chem.. 26% Virginia-Car 6% pf.. Virginia-Car pt (7).. Wabash. 83 Wabash Wabash pt, B (5) 24% Waldorf Sysum (1 Walworth Co (2). Sales— Add 00 High. 69 49 et (1.60). 3 814 Sweets of Amer (1). 2% Symington......... 8l» Symington (A). 15% Telautograph (i1 8% Tex P C & OF 13% Texas Pac Lan Thatcher Mfg (1.60 40% Thatcher pf (3.60) O T - 5 PRS- ST et T T ) ar} o Pf (1.20) 38% Warner Bros Ple (4). 2 36% War Bros P pf (2.30). 16% Warner-Quinlan (1). Warren Bros (19, 23% Warren Fy&Pipe( r-Eisenlohr 22% Wess Oil & Snow (2). 50% Wess O & Sn pf (4).. 131s Westn Dairy (B). 24% Western Maryland 43% Westinghse A B (3).. Westinghse E&M (5) 29% Weston Kl Ins (1)... Westvaco Chlor (2).. Wextark Radio Strs., White Motors (2).... 86% White Rck MS(14%) T White Sewing Mach. 27% White Sw Mcp pt (4) 11% Wilcox U1l & Gas.... Wilcox Rich (A) 2%. 19% Wilcox Rich, B (2)..) 7% Willys-Over (1.30).. T Wilson & Co A. Wilson & Co pf. 58% Woolworth (2.40). .. 67% Worthington Pump.. Worth Pump A (7). Worth Pump B (6).. Wrigley Wm (4). Yale & Towne (15) e me TR T - TP P ST Young Sheet & T ( 53% b2% 9% 97% b4% 5d% 117% 118% 100% 100% 69% 69% 21 27 9 50 ° 10% 81y 19% 2% 11% 30 46% « 10:30 AM.. 1:30 P.M. Dividend rates as payments based s Unit of tradin in stock. 23 108 103 102% stockholders. % Am Roll M., June 16 W ChiRI&P.... 3% Fox Film A...Apr 10 ¥ Fox Kilm deb. Apr 10 1% Int Tel&Tel..May 1 3% Pac Lightg..May 3% 8o Cal Ed...,.Apr31 Sales of Stocks on New York May 9 1 817,200 3.506,200 iven in the a! on the latest quarter] less than Payable in scrip. b Payable in tables ST a2 e filfi-h'-'f"u' Fartly extra. 1 Plus 4% last year— 3 Ftloon ?r'l’u."c’fi- otk o in 3 in stock. k Pl s 0’ SI0CK. ' Bublect ‘0" wSbrovel oy DIVIDENDS DECLARED NEW YORK, March 31 (#).— Regular. 3 i3 0DODOLOOPOOODOOLODOOOE! Company. Am 8ol & Chem P! Blag Corticelli Courier Post H EEpEE Lakrasse 332225 =3 EESIZ>322>EEE>Y Courler Post SOl Fay Bia : Initial. BPLSSILE P S Incyeased. Harbauer €0..........45¢ Q Apr, Omitted. Bl B N ¥ Auction.......30%e @ Dus, 1 . 18 MERCHANTS & MINERS HAS SUCCESSFUL YEAR Special Dispatch to The Star. BALTIMORE, March 31.—The earn- =% | ings of the Merchants & Miners’ Trans- portation Co. in 1920 were the best ® |since 1925, with freight tonnage the heaviest for any recent year, according to the report of A. D. Stebbins, presi- dent. The net income of the company last year was $1,176,551, compared wit! $961,454 in 192¢. This was equivalent to $4.78 a share on the 245914 shares of capital stock, compared with $3.91 a share in 1928. Freight traffic last year was 1,058,783 tons, with a revenue of $6,811,310. This compares with 963,463 tons and a reve- nue of $6,468,480 in 1928. ‘The number of passengers transported last year was 59,937, compared with 61,781 the previous year. balance shee of the company dis- a net wi caj of O . ‘'Total gross revenue was $8,- 003 and aggregate expenses were $7,324,452. . Steel Operations, NEW YORK, March itions in and aroun ted as h | financial district. Thi BALTIMORE INVESTORS TO SHARE $10,000,000 Special Dispatch to The BALTIMORE, March 31.—Investors residing in the Baltimore district will receive more than $10,000,000 as share of semi-annual interest and u‘.fi'.':f terly dividends to be paid according to cllcnl:flg;a r::;: x;;vng: is approximate] more than the lmountlym‘e}&o'ogg the same account in April, 1929, e include payments by ;mimlnc figures local corporations and 8 companies in which Buum:;le';:: 'h‘:ll-‘ investments. Te. market. It expected that the bulk of it will find its way into bonds and preferred stocks, but & con- siderable amount will be used to finance operations in the stock market. A BANK CLEARINGS. . today, $168,000,000 Ghicago | vear ago, umam,nrm ] to divert attention from the listed is-| C., Convertible Group Is Fea-| ture of Trading—Tele- phone Issue Active. BY F. H. RICHARDSON. Special Dispatch to The Star. NI YORK, March 31.—Bonds | turned downward today in a reduced | volume of trading. There was no change | in money rates to account for the weak- | ness, nor was the day’s budget of new issues—only $7,000,000—large enough | but stock market activity was partly the cause. Certainly the “boiling” condition of | the convertible group was a direct re- sult of the interest in equities and many new highs were made in this section. The leader was American Telephone & Telegraph 41, per cent convertibles, which touched a new high at the open- ing and fluctuated irregularly in very heavy trading. It is estimated that of the original total of $218,953,200 of this issue, over $75,000,000 has been con- verted into the company’s stock. The conversion feature was available at the beginning of the year at $180 per share. In 1931 the price will rise to $190 and from 1933 to 1937 the conversion privilege will be on a basis of $200 a sues, Share. The stock is quoted today above | 2, 2 Mternational Telephone convertibles were active and nearly 3 points higher. Gains were also made by Alleghany 5s, American I. G. Chemical 5%zs, Ameri- can International 5%s, Commercial In- vestment Trust 5%%s, Philadelphia & Reading Coal & Iron 6s, Chicago & Northwestern 4%s and Texas Corpora- tion 5s. The rest of the market had a lacka- daisical tone. U. S. Government bonds were quiet with the exception of Liberty fourth 414s. These sagged slightly un- der moderate pressure. anldhn Pa~ cific 4s, Pennsylvania 4zs, Northern Pacific 4s, Inland Steel 4lgs, Standard Oil of New York 4ls, Standard Oil of New Jersey 5s, Utah Power & Light 58 BOND PRUES EASE | o= o= BONDS s INREASED ARKF N QUET MARYET, (Sales are Sales. 26 Argentine 6sJu §9. Argentine 6s Oct 59 Argentine 6%s 62 Argentine 63 A. Argentine 6s B.... Australia s 1955.. Australia 68 1957, Austria 7s. Belgium 7s 1955 Belgium 78 1956, Canada 6s 1931, Canada 6s 195 hile 65 60. Chile 6s 61, Chinese Gov Ry b Colombia 6s Jan 61. Con Pow Japan Ts. . Copenhagen 41 63, Copenhagen 6s ct Cuba 6%s Czecho 8s ceeee Denmark 4% s Denmark 518 55. Dutch East I 47 El Salvador 83 (8 Fat 7s ex war 46 Finjand 5% Finland s and General Motors Acceptance 8| T worked lower. Nor was the mild interest shown in junior railroad bonds sufficient to stem the comparatively small volume of sell- ing. The whole group was fractionally lower; with the exception of Interna- tional Great Northern adjustments and Wabash 41;s. Goodyear 5s moved ir- regula; and U. S. Rubber 5s.scored a small fi‘n, but other industrials were weak. —_— Washington Stock Exchange SALES. Washington Gas 6s “A”"—$1,000 at 103. Capital Traction Co.—26 at 79%, 10 at 79, 10 at 79, 10 at 79, Potomac Electrio 513 % pfd.—5 at 108%, 20 at 1081, Washington Rwy. & Elec. pfd.—3 at 97. Peoples Drug Stores pfd.—2 at 107. AFTER CALL. Washington Gas 6s “B"—$300 at 10513 Washington Rwy. & Electric pfd.—10 at 96%, 10 at 9634, 10 at 967s. Washington Gas 6s B—$100 at 105, Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Telga. 4125 '33. Jel, & Tel, ives o Wash. G Wash. Rwy. & 1. Capital Traction Cc ‘Washington Gas Norfolk & Wash., Elec. 2 1" Bank of Washington . TRUST COMPANY. American Security & Trust Co. SAVINGS BANK. Bank of Bethesda Commerce & Sa East Washington otomac Mech. Mtge. o, Medical Bids. Coiv, ward & Lothrop pfd. *Ex dividend. .. U. S. TREASURY BALANCE. German Bank 6s'3. German E1P 6%4s German 7s..... Ger Gen Flec 7s. Greek 6s 1963 Iapanese 4s. Japanese 6% Jugoslavia Ba Rarstadt 6s 1943... Kreuger&To'l 5s ct. Lyons Marrellle 6s New So Wal New So Wal, Orfent dev 51 6 Orfent Dev'mt 63 63 Paris-Ly-Mea 6 Paris-Ly-Med 7 Paris Orleans 6 Queensland 6 Rhineibe Un 7 Rhine Wst EP 6s 63 Rhine West 63 63. . Rio de Janeiro 6148 Rio de Jan 85 1946 Rlo Gr do Sul 6s 48. Rio Gr Do Sul 8; Rome 634s... Sao Paulo 1950..... Saxon (PW) 7s.. Selne 7s 42. Serbs Cr Slov Swiss Confed Tohe El Pow Toho El Pow 7s. Tokio §s. . Toklo 5%s 198 Utd Kingm 6%s Uruguay 6s 19/ Uruguay 8 Vienna 6s 62 Warsaw 7s 63 Yokohama Abitibl Pa&P bs '63 Alleghany 6837 Am Nat Gas 614s 43 Am Smit & R 1st 68 Am Sugar Ref Am T&T ev 4%, Am Tel&Teleg b: AmT& Teltr AmT&Tst Am Tel & Tel Am Water Wk Armour&Co 4 9 Atlantic Refin Bell Tel Pabs B Bell Tel Pa 6sC... Bethiehm Stl pm b8 Beth Steel rf §s. Bklyn Edison bs, Certn-Td 6%s rets. Chile Copper b: Colon Of1 6s 38. . Col G&E! §s May Com Invest 6% s Com Invest 6: Con Coal Md ConGasNYS Cuban Am Sugar Det Edison s 40. .. Bast Cuba Sug 7%» Fisk Rub 8s. The United States Tréasury balance announced today as of close of business March 28 was $363,965,402.32. Customs receipts for the month to date were $38,340062.54. ‘Total ordinary expendi- tures, $7,023,049.89. PARIS BOURSE PRICES. PARIS, March 31 (#).—Price changes were irregular on Bourse today. Three per cent rentes, 88 francs 60 centimes. Five per cent loan, 102 francs 45 centimes. nfl“nfi, on London, 124 francs 20% centimes. The dollar was quoted at 25 francs 551, centimes. CHICAGO DAIRY MARKET. GRAIN ELEVATOR CONTRACT. NEW YORK, March 31 ().—A con- trast been let ta‘the Missourt for, mmm Gen Cable 6%s 47 Gen Mot Ac Co Gen Pub Serv 5}4s. Goodrich 6% Goodyear s re Humble O & R 6%3 11 Bell Tel Inland Stl 4%s 7 Int) Cement Int]l Mateh Int Tel&Tel 4% *ntl Tel&Tal 68 KanCity P& Lt Danish Munic 8s B, 25 1930. in $1.000.0 Lo 100 101 101 100 100 105 107 111 FOREIGN. Sales, ms'h' Low. 20 5 3 955 991 9914 91% 91% 107 98 99 1 102% 108% 113 109% 115% 110% 20 16 52 3 1024 100% 100% 921 97 100% 110% 109% 93% 101% 105% 874 97% 103% 97 9 100% 96% 6% 104 8414 8014 9814 103% 2 25 UNITED STATES. w. 2:55. 12 10012 14 101 14 28 101 28 2 1002 26 100 26 106 26 10726 26 11126 9 95% 95% 99 99 929% 99% 90% 90% 91 91 jo6% 106% 98 98 98y 98% 1024 102% 108% 1088 112% 13 108% 108% 115% 115% 1101 110% 82n 824 100% 100% 102% 102% 100% 100% 102% 102% 93 100% 100% 92 92 9716 9T 100 100 110% 110% 109% 109% 93 98 101 101% 105% 105% 101% 101% 102 102 108 108 94 E2) a1 21 9T% 974 108% 108y 117% 118 123 123 92 92 96% 9% 108% 109 105 105 87% 8% 97 97 103% 103% a7 97 100% 100% 96'% 26% 96% 96% 102% 104 84 84 9% T9% 08y 98y 103% 103% % 103% 108% 12 12 102% 92% 100 102% 1051 4 13 3 12 13 11 10 18 10 Pren oaninas @ 104% 98% 107% 90 81% 98 an = 9 12 86 52 104 1 101 1 103% 1 86 2 101% 54 107 S 45 100% 100 5 914 19 102 3 104 39 103% 14 101% 17 91w 14 851 8414 84y | LakeShoredy 1 102 10 106% 16 102 10 103% 1 104% 104% 1043 | MU BI 1 85 82 9T% 23 874 864 864 |MK&T 1st 4 297102 44 96% 1100 1 103% 103% 103% [ Mo Pag 5 107% 107% 1074 | Mo Pac 63 G 7! 6 9% 10 85 10 84 2 102% 8 108% 2 100 7 107% 17 95% 94k 94k | o o' cot) e 3agm. 20 1024 101% 1024 | N 36 104% . 19 94% 49 100% 12 99% 8 100% 9% 20 104% 104% 104% | N 2 108 12 84y 23 119% 5 100% 2 89% 894 89% | Ore Short L 55 gtd. D17 e 1102% 1 1 101 8% 93% 87% 88 878 87% 103% 103% R4 IR 101% 1014 103% 103% 102% 103% 102% 102% 92% 924 29% 100 1021 102% 105 105 100% 100% 97 97 106 106 100% 101 106% 106 92 92 92% 92% 825 824 102 103% 77 1% 102% 102% 934 93% 100% 100% 99% 99% 108% 108% f4% B4 97 97 104% 104% 4 103% 108% 108 108% 99% 99% 100 100 814 81% 93 98 104% 104% 98l 98% 107% 107% 89% 89y 81 81 9% 98 MISCELLANEOUS. £5% 85 Abram&Straus 634 6 100% 100% 100% Cp 68 44 24 104% 103% 103% 2 103% 104 101 101 103% 103% 86 86 101 101 106 107 100% 91 9t 101% 102 103% 103% 973 185% 182% 184% | Int Ry 103 103% 104 100% 101y 20 102 106% 106% 101% 101% 102% 103% 85 97 55 9% 101% 102 96 9614 9 100 97 8Ty 84% 85 83% 84 1021 102% 103 103% 100 100 107% 107% 104 94 106 99Y% 100% 100% 92 104% 26% 97% 103 108 84 84 19 119 100 100% 93% 9 102% 102% 101 101 FINANCIAL. Sales. High, Low. 2:88. 2 1084 1034 1034 6 10215 102% 102% 13 102% 102 102k 2 1013% 101% 101% 3 106% 106% 106% 6 102% 102 102% 7 104% 104% 104% 95 9% % 98U 9T 9TH 99% 98% 98% 96 96 96 100% 100 100 96% 96% 96% 100% 100% 100% 102% 102 102% 103% 103% 105% 100 99% 100 98 98 98 95% 944% 95% 103% 103% 105% 103% 103 108% 97% T9TU 0Th 101 101 101 107 106% 107 104% 104 104% 101% 102 Pure Ofl 6% s'37... Remington Ar 6s 32 Rem Rnd 6% war.. Richfield O11 6 Sinclair Ofl Sinclair Crud Sin Pipe Line Skelly O11 6% South Bell Tel Stand O11 N J ¢ Stand OfI N ¥ ¢%s. Tenn Cop 63 B 44... 12 Tenn ElecPowss 41 14 ‘Tex Corp ov bs 1944154 Transcontl Ol 6%s 20 102 Unitea Drug 98 97K 9% USRub 1st 88 87T% 874 U 8 Rub 1% 100% 100% 100% Utah Pow & Lt 100% 100 100 Utilities Pow 6% 92% 92% Vertientes Sug 7i 57 57 Walworth 6s 45 92 92 Western Eleo 5s... 2 103% 103% 108% Westn Unfon 5s61. 6 103 103 103 Westn Union 6% 2 109% 109% 109% White Sew Mach 1 80 R0 80 Willys-Ov 6%833,. 1101 101 101 Wilson & Co 1st 6s. 89 100% 100% 100% Win Repeat Ar7%s 1 102 102 102 Youngstn S& T bw. 35 102% 102 102% RAILROAD. - 10 90% 90% 90% 93% 94 Atchison ady Atchison gen 4: DUTIES EXPECTED Three Major Changes Likely in Present Bill—Store Statistics Revealed. BY JOHN F. SINCLAIR. Special Dispatch to The Star. NEW YORK, March 31.—While the new tariff bill still has to jump the joint conference committee hurdle, the new duties, on the whole, will be higher than those now in existence. The present law provides for average protective rates at about 34 per cent ad valorem. 'r:njekalo;xu bill, p:nefl n::; months ago, ¢ for an average 43 per cent protection. When this bill reached Senate these rates were attacked vigorously. Within the last three weeks, however, the Senators have revised their first and passed a bill which calls for an average protec- tion of 39 per cent, 5 per cent above the present rates and 4 per cent below the rates the House wanted. Should the bill as it comes from the Senate be made a law, three major changes will stand out: 1. The power to change rates, up or down, 50 per cent will be transferred from the President to Congress. 2. A bounty on exported, surplus farm products will be established. 3. An attempt will be made to remove all protection from the products of com- panies which want monopolies. The agricultural duties imposed are the highest in American history. Of course the new tariff law will be a compromise. No one will be satisfied. Some rates are up—some down—but the main thing is that business will know definitely what the rates are. Foreign nations have already sent in protests 5 94 Atch deb 438’43, 103 141% 140% 140% At& Bir4s33. 2 884 884 B8% At1 & Dan 1st4s43. 2 65% 65 65 AtlantieCL ¢%s64 1 98% 98% 98% Balto&0hio gold 48. 16 94% 94% 94% B&Ooviys..... 14 100% 100 100% B&O4%scv'60,. 661 104% 104% 104% 1 102% 102% 102% 1108 103 103 109 991 99y 38 38 94y 95% 99 99y 88 88 94% 94 96% 9614 96 96 951% 954 2 102% 102% 102% R 103 102% 102% 22 112 111% 112 15 87 2.9 4 93% 93% 1 103% 103% 103% Bklyn Un El 68 b Buff R & Pitts 434s. Can Nat 4%48°54... Can Nat 4%s Can Nat 4348°68. .. Can Nat] 58 July "69 Can Natl 53 Oct '69 Ches & O Corpn bs. Ches & O zen 4%s. 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Int & G Nor Int RysC Towa « B0 96% 96% 96 + 21 101% 100% 101 - 5 89% 89% 895 81 81 9% 100% 9% 99% 9% 9 98 98y 58 B8% 961 961 Kan City Term Lake Shore 4s°31 Man Ry 1st Market St 1s Ry & MStP&SSM M St P& SSM 6%s. 884 88y 88u ;% 101 101% MK&T4sB 18 108% 108 3 102% 102% 102% against the higher schedules. Thousands of workers have joined in parades in France and England, protesting certain rates. While business is still waiting for the final schedules, it knows now pretty much what to expect. Department store statistics for each of the last five years reveal increasing ° outhu in doing business and declining ofits. prl asked E. A. Pilene, Boston depart- ment store owner, when this- trend would be reversed. “In general, for 1930 und the follow- ing years the stores that follow the new trends of scientific merchandising, that adopt sweeping price simplifica- tions, that use the most careful analytical research and substitution of facts for opinions in the conduct of their business, will be increasingly sue- cessful,” said Mr. Filene. “Then the basic ‘reason for the de- cline in sales and earnings of many department stores is a matter of man- agement?” “Very largely. For instance, the sales and profits of two of the largest New York department stores so managed have increased constantl” during the last five-year period.” V. Everit Macy of New “York was born into a family of great wealth. After graduating from Columbia Uni- versity in architecture he entered busi- ness. But responsibility for n; lic service always weighed upon and after a few years he resigned from 23 committees, governing boards and corporaticns to become superintendent of the poor in Westchester County— now New York's richest county. house rose a fine, clean, fortable “hospital for the aged.” The name is typical of the man. He gave freely both of his time and money for the work. Later Mr. Macy became the head of the Westchester park system, and de- veloped it into one of the finest park systems in the world. His early death last week at 59 is & national loss. Edward P. Warner, former Assistant Secretary of the Navy for Aviation, says that the aggregate number of planes built in the United States during 1929 exceeded the total for the rest of the the number Europe and Asia by at least 200 per Mfany belicve shat milita y Ty - tions should concentrate on fi:fin- craft rather than on the battleship. g:l:?m the nations prepared to lhfl On October 1, 1929, the American Army had 1,373 planes, most of them mode;‘n; the Navy had 829 July 1. Great Britain had 772; France and her colonies, 1,620; Italy, 875; Japan, 372; Spain, 336; Poland, 325, and Bel- glum, 246. Bu:h la t.he‘mtrer nl‘ government ap- lons for aircraft support Great mln leads. Russia’s are not included, and Germany is limited by the peace treaty to commercial planes. America’s biggest industry, that of the automobile, shows an expandin foreign trade in January over Decem- ber. The value of all'automotive prod- ucts, which were exported in January of this year, amounted to $31,166,600, com- pared with $27,983,600 in December, }:gg‘ and $47,593,600 in January of Any one reading the figures can see that January represents a gain of 14.7 per_cent over December, but a decline of 345 per cent compared with & year ago. The fact is that while the Wall Street November crash did have an adverse effect in slowing down American ness, world trade, too, figures But the world will continue to buy automobiles in increasing numbers, whether they come from the United States or are manufactured abroad. (Copyright, 1930, by North American News- Daper Alliance.) 18 80% 80 80% 1 100% 100% 100% 100 99% 100 13 98! Mo Pac . 65 100 Mo Pac 5% evt. 59 113% 1 Mont T'rmref 6841 7 98% Nassau £1 ¢ NOTex&MEsB NYT&MGE%Ss. 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Penna gen 10 1024 102 102 | Penn bs ‘84, 24 1004 99% 100y | B¥nna 84e. 5 104% 104% 104% 1 114w 10 100 15 106% 511 114% 114% 99% 100 g{uxm Pere Mar 1st 4 Pere M 4%8 1980 wi 10 97% 97% 7% PCCa&S| A... 51 108% 108% 108% PortEI P 3 100% pl 100 _ 95} RIArk &L 4%s RioG W istds..... 14 St LIM&S gn 8531 6 100% 100% St LIM&S R&G 4. 19 8 StL&SFpl 1 StL& Fr St L&SW con 4 StLS W 1as St L Western 24 Sou Pac 4% rets... 9 So Pac 43369 ww, 52 Woash 4348 78 reta 12 98% Wabash 1st s, 3 1031 108% 103% 10 102 102 1 108% 103%