Evening Star Newspaper, April 1, 1930, Page 14

FINANCIAL, ON REDUCED SALES| UNITED o Wire STATES. (Bales are in $1.000.) Bales. 89 Market Sags Slightly After|t Strong Opening—Convert- ibles in Demand. BY F. H. RICHARDSON. Epecial Dispatch to The Star. NEW YORK, April 1.—Under a fair- High. Low. 00 24 100 1 10116 10116 101 16 10130 101 24 101 26 100 21 100 21 100 21 1051 10416 104 16 107 28 107 16 107 16 11124 11116 11116 FOREIGN. Sales. Hich. Argentine Bs. .. Argentine 6sJu Argentine és Oct Argentine 6%s 62 Ari 1y heavy reinvestment inquiry, bond | sy prices were strong and volume was good during the first hour today, but lfilr'lrd the buying diminished and the list , with a corresponding decrease in activity. the moderate tightening of money with the end of the month there was little to account for the market's weakness. An estimated total of $750,- 000,000 in interest and dividends paid today should ordinarily have firmed up the market. Once again the stock market was responsible for some of the diversion of interest and convertibles were active as a consequence. Their fluctuations, however, were narrow, except in the case of International Telephone 4}as, which mirrored a spectacular climb in their complementary stock with an ad- vance to a new high for the year. One explanation of the market's failure to continue its advance is that the calling of bonds prior to maturity in March fell off 87 per cent, pared with last year. This coincid.d with a large increase of new financing, thus tending to set up a flooded con- dition. uunlclpal bonds, nevertheless, are still in good demand, with few high grade offerings to be had. The same applies to rail equipment and other legal de- scriptions. Dealers are in the market to lnlp up anything of the kind which t Today's new issues totalled 2000000 of which less than u.ooo ‘was of mumclpnl nature. The Boston & Maine Railroad sought per- ‘mission the Interstate Commerce Oom.mhhon today to sell $15,000,000 first mortgage 5 per cent bonds at 98. ‘There was fair activity in the high com- | €M 6 Chile 75 1943 Colombia 6s Jan 61 Con Pow Japan 7s.. Copenhagen 43 63. Ceecho 88 1951 Czecho 8s 1952 grade section. United States Govern- | [rarer ments were turned over in large blocks l‘ “flfllll] unchanged levels. South- 4%! and Frisco “A” 4s, both Wi ‘Telephone 5 . 58, Columbia Gas 5s, & Light 5s, Utilities Power & Light 5%2 -nd Ne' York Telephone 455 registered sv. Plul adjustments, opening at 72%, off over 2 points on the subtraction of interest paid, was the most -cflve of the junior carrier descriptions. Temained firm in heavy tndm; 4%s and Missouri-] !m somewhat lower and the iatcer German EI Pl*l . German 7s. Ger Gen EI Greek 65 1963, Hait1 6s... Irish Free State Italy 7s... Itallan Pub 8 7i Japanese ¢s. apanese Jugoslavia Ba Karstadt 65 1943... Kreuger&To'l s ct. Lyons 6s. higher by a fraction. National Dairy Products 5%s dropped fractionally and ooodynr 5s gained a like amount. dollar credits were uniformly obligations still holding M 'high pace of activity. Washington Stock Exchange SALES, Washington Gas 6s “A”—$3,000 at 103, $2,000 at 103, $500 at 103, $200 at 102, $300 at 102. Gas 6s “B"—$1,000 at 105, Washington Loan & Trust Co.—1 at 500. Real Estate Title Ins, Co—10 at 165. Title Ins. Co. of Maryland com—10 Federal-American Co. com—10 at 31, 25 at 31, 10 at 301, 10 af 31. umnu“é Monotype—40 at 1141z, 10 at AFTER CALL. Washington Gas 6s “A”—$1,000 at 103, QDM mn Co.—50 at 79, 6 at 79, 2 at 7! hwmlc Electric 5% % pfd—10 at mmwn Gas 55—$1,000 at 101. tion 55—8$500 at 9614, $1,000 New So Wales 57. New So Wales 58. Orient dev 63 63... Orfent Dev'mt 68 §3 Paris-Ly-Med 6s. Parts-] led 7 Argentine May 61.. 99 Low. 2:58. T4 B4 ¥9 99 95% 9874 98% 8314 90% 91 106'% 93 98% 102's 1083 1124 108% 115% THE EVENING STAR, WASHINGTON, D. C, TUESDAY, APRIL 1, BONDS IRREGULAR | [oxrew vorc BONDS srocx excaan] Direct to The Star Office Sales. High. Mor's&Colst é%s 4 Bdi 33 100% 1 Brenvoa North Am Edis No Am Ed 6%s Nor Ohto Tr&L 6: Nor States Pow 6 Nor States Pow Pacific Gas & EI PacT&T 6862 X Phila & Read 65 49 Phillips Petro 6 Pillsbury F M 6« Por Ric Am Tob §: Postal Tel £ C 6 Pub Serv Gas 4% Pub Serv G 4%s 67 Pure Ofl 6% '37... Remington Ar 6s 3% Rem Rnd 6% war. . Richfield O11 Stnelatr O11 foves 3 " roRaeSReSnanmanBen 100% 102% 1031 9914 South Bell Tel Stand O1I N J Stand Ol N Y 4% Tenn ElecPowss 47 Tex Corp ev bs 19 Transcont] Ol 6%s United Drug U S Rub st rf = o REANH aneRnn aRn Utah Pow & L Utilities Pow 6% Vertientes Sug 78.. Walworth 6s 45 Walworth 6%8 36, Warner Sug 78 41.. w Willys-Ov 6%s Wilson & Co 1st és.. ‘Win Repeat Ar 73%s Youngstn S& T Ss. 2 102 RAII.ROAD. Ann Arbor 4s. Atchisomad) Atchison ge: S8am AtlantiecCL AtlanticCL ¢s B&Ocvik%s 3 B&O l%lcv 60. ort SRamemn o BKiyn Un El 68 60.. Bklyn Un EI 58 sta.. AOANBRD PRER 0 @b [EYVER-4- 11 ST e 3 0 & O 4%s B 1995, I.Alton 3., Chi llflBleil’l CMSP&P: 41580 Chi & NWgn3% Chi & NW gen ChiN W 43482037, Chi&NW eoncl- $200,000 Aircraft Ordef. NEW YORK, Apl’l.l 1 (#).—The Con- tion of Buf- z2Z2Z 5-004 Nor&S lln Norfolk & W en Ogden & Lake Ch ¢s Ore Wash 1st ¢s. ) EREEHRRNON raBa R NARAR AR NSRS - old Pere M 4145 1980 wi Philippine RR 4 mRNOa~S StLIM&tgnbs'31 6 St L IM&S R&G ¢s. 41 Seab AL ref 3eab AL con TELEPHONE IMPROVEMENTS. BALTIMORE, April 1 (Special)— Additions and improvements to the tele- phone plant in Maryland authorized by the board of directors of the Chm & Potomac Telephone of at its meeting, will mvolve expemmum of $588,825, officials of the announce, This brings the tct.l :n»um authorized for additions and betterments to the telephone nyn- tem in the State, so flr this year, to $811,190. Under the routine construction pro- ject for the second quarter of the year, additional pole lines, wire, underground conduit and cable, aerial cable switch- boards and other central office equip- ment, telephones and other associated apparatus will be installed in every sec- tion of the State. — Dividends Paid Today. NEW YORK, April 1 (#)—There's nothing foolish lh\lt lo%y for sundry holders of stock in ican corpora- '.lnmA It is their first big pay day of year. Some $750,000,000 is coming 047 '.hfln in dividends. And this is the twenty-ninth birthday of the United States Steel Corporation. BITUMINOUS COAL OUTPUT. 4 | By the Associated Press. Total output of bituminous coal in the United States for the latest week esti- mated by the Mines Bureau and com- parable periods is as follows: Week ending March 22... 7,839,000 tons Preceding week. ... . 8,077,000 tons Same week last year. . 8,521,000 tons SILVER QUOTATIONS. NEW YORK, April 1 (#)—Bar sil- ver, 42%. IR S e D|VIDENDS DECLARED NEW YORK, April 1 (#)— Company. Rate. fiod. abie. Re, Il' Cons Laund pf %1875 East Mass Ry SSF 41 Hidrs. of record. o 13 FENEEESs DD' DDOOOOODOOD 1 5 3 1 1 0 1 ] (1 5 0 2NTARE Ford Mot of Finl.16% . TuC CsnfASLi6Y ! Increased. Nat Screen Serv Cp.50c Q Omitted. Abr' Fox Pire E A.37%c Do. Putn (Ro) Gan pf.5175 Q 1930. NEW YORK, April 1.—The following is today's summary of important cor- pcration news prepared by Standard Statistics Co., Inc., New York, for the Associated Press. News Trend. Preliminary estimate of daily average crude oil production in the United States for the week ended March 29 is placed at 2,529,001 barrels, a decrease of 11,805 barrels from previous week's av- erage and 94,949 barrels below output of March 1, 1930. Prominent in the day’s corpovation news were the announcements of ac- quisition or consolidation by Gardner Motor, American Colos , U. 8. Gyp- sum and Shell Union The Cumnm nnygle acquires control of Moehle lAthom c of Brooklyn and White Co. of Chicago. Brwgeport Machine earned $1.18 on fofn;l;:fnn stock in 1929, against 13 cents n Centrifugal Pipe earned $1.25 on com- mon stock in 1929, against $1.04 in 1928, Eastman Kodak had 200 distributing agencies, situated in 162 cities in 50 countries, at close 1929. Stockholders on December 31, 1929, numbered 31,350. Electric Boat earned $3.46 on com- mon stock in 1929 (including $828,844 special dividend from New London Ship & Engine Co.), against $1.18 in 1928. Ford motor production increased to 8,500 units a day. Ford Motor Co.,, Ltd., Ford Motor Co. of Pinland declares 10 per cent div- idend on common shares. Net profit for 1929 amounted to 2,554,590 Finnish marks, against 2,200,000 in 1928. Gardner Motor and Moon Motor Car announce consolidation of their engi- neering and sales staffs. Metropolitan Paving Brick earned $2.08 on common stock in 1929, against $3.49 in 1928. Montgomery Ward & Co. March sales off 8.7 per cent; three months’ sales off 3.4 per cent. Ohio Copper had defcit of $41,020 %28“”' against deficit of $33,625 in Pere Marquette Railway February surplus, after chur'u‘ $507,929, against $810,929 a year ago; two months’ sur- plus, $238,637, mmn $1,242,560. Pilot Radio & Tube earned $1.84 on gl'lz!: A stock in 1929, against $1.61 in Punta Alegre Sugar announced semi- annual interest, due April 1 on 6 per cent gold notes maturing October 1, 1930, would not be paid at this time. dio Corporation of America earned $1.58 on common stock in 1929, against (Shell . |$3.19 in 1928. Shell Union Oil subsidiary Eastern Petroleum Products) ‘| chased two-thirds of Albemarle O'E“r& Gas Co.; price, $250,000. Youngstown Sheet & Tube-Bethle- hem Steel officials announce that in Severn €0flZ’ifl6iflg event of Cheshire Spang, Chalfant & Co. income amounted to $228, preciation, taxes, etc. Bethlehem wm be mtmuea as FINANCIAL. ‘was $368,849,699. O’Donnell’s Drug Store 14th & Colorado Ave. Is a Star Branch Office Tb.nunobcthrmyloloeluthobu!mu fill any vacancy you may have in your THE ABOVE SIGN I8 DISPLAYED BY AUTHORIZED STAR BRANCH OFFICES your home than through a Cla fied Advertisement in The Star, With this medium you are sure of reaching practi- cally everybody in and around Washington—not only those who are out of employment; but others who may want to make a change. Leave the copy for the Star Classified Section at any of the Branch Offices—there’s one in your neighborhood whether you live in town or the nearby suburbs. There are no fees in connection with Branch Office service; only regular rates are charged. ‘The Star prints such an overs whelmingly greater volume of Classified Advertising every day than any other Washing- ton paper that there can be no question as to which will give you the best results. “Around the Corner” is a Star Branch Office reasons why you will prefer CADILLAC and LA SALLE U. 5. TREASURY BALANCE. . The United States Treasury balance Gypsum ires Farn- nnnwneedt«h uo{emg business umoll(e:.:lthm 3 34 to anything else tering glass in Cadillac and La Salle. It is Cadillac’s conscientious conviction that you are entitled to it —without extra cost. The Security-Plate Glass that is standard equipment in all Cadillac-La Salle windows, doors and windshields is not ordinary laminated glass. It is the highest quality plate glass. No distorted vision. No fear of injury through flying glass fragments. There is no question about the proved advan- 6. tages of the powerful Cadillac-La Salle V-type Eights. In these cars eight-cylinder power plants reach their maximum effectiveness. And now in the Cadillac V-16 (sixteen cylinders), by reason of new engine principles, performance is carried to hitherto unreached heights—an indescribable respon- siveness even at low speeds—a hushed smoothness —a kind of performance in every particular that no words can suggest and only personal experience can reveal. When you inspect the luxurious Fisher md Fleet- + Wood coachwork, and compare it with other body construction and appointment, you will quickly agree that ordinary prac- tice appears disturbingly inadequate in comparison. You are invited to take a Cadillac or La Salle trials car and put it to the most gruelling tests for con- firmation of what every Cadillac or La Salle owner knows: That Cadillac 4nd La Salle are, of all motor cars, the safest, the easiest to handle, and the simplest to control. You have undoubtedly observed that the driver o of a Cadillac or La Salle—though his car has a lupenbundnnce of speed and power—does not have to resort to speeding to make time. Simplification of con- trol in the operation of brakes, gear-shift and steering mechanism has resulted in a decidedly new measure of quick and easy handling that spells more miles per hour with greater safety. The new silent ‘‘Syncro-Mesh’’ transmission, o with which all Cadillacs and La Salles are equipped, is the ultimate simplification of gear-shifting. This exclusive patented feature literally transforms this phase of motor car performance. ‘‘Syncro-Mesh” operates quickly, quietly and clashlessly at any speed, under any conceivable driving conditions, The new Cadillac-La Salle harmonized steering o —the owner of a Cadillac or La Salle will tell you —is a revelation in easy steering, in maneuvering these cars through congested traffic, in parking, and in cross-country driving. CaWibysos.... 6 Swiss Co-fo‘ Clev Term 4%s'77 n Toho El Pow 6s 33. Toho El Pow 1s. Tokio bs. Tokio 6%s 1 v, | Uta Kingm 63 87, 104% 104% 98% 98U 107% 107% | Den & R10 G cn DRG& Wat b Det United 4% Duluth SS & A Erle 1st cons 4 Erteconvis A Erie Gen Erle cv Erle conv£x 7 Erie (Pa) elt tr 4 Erie & Jersey 6 Fla East C 68 74... Ga & Ala 15t 68 45... Gr Trunk stab 6 Grand Trunk 7s. ... 6 81% 81% 1 97% 9T% . & Ann: g Sy llA‘rlollu. BANK. Hational Capital S al Great Northn 1at 68 Gt Nor 6% Gt Nor gen 7, Hocking Val 4% Hud & Man suey gaus 11"\- 984 i psdsen Am Wrtg Pap 6s 47 2 Armour&Co cu 29 National Bank of Washington. & Armour Del TRUST COMPANY. Atl Guif s l‘ I Cent 4%s Amgrican § i b Co..*4% s Atlantic Refin 111-C-C-StL&NO Bs. < 3 int Rapid Trans bs. ’::!f.‘.‘.‘.‘?"..fln‘:'.‘ y int Rap Tr 6s stpd. int Rapld Trans Union Trust Washington Loan & Trust. .. int Rapid Trans Int & G Nor 55 1956 SAVINGS BANK Int & G Nor s i 61 Bank of Bethesda. Commerce & Savibg: Int Rys C A s Int RysC A 6s41.. ot Washinston Becurity Sifings & Commercial Int Rys CA 6%sre. ; 3 Kan City FtS4s... Beventh_Street i Kan City 83 Kansas City 8§ Kan City Term ¢ Lake Sho 111 Cent 45 52 Beth Steel rf b Bklyn Edison 6s. O e Greater safety is the significance o of the safety-mechanical four- wheel brakes, with which all Cadillacs and La Salles are equipped. These brakesare: Unfailing, because you can- not overheat them; effortless in opera- ion, because of fifteen sets of roller bearings; positive, because the patent brake shoes always give full surface .action. Simply and quickly adjusted. Sixteen-Cylinder Trials Cars Now Available Only by riding in or driving the new Cadillac V-16 can you appreciate how extraordinarily it performs. A telephone mes- sage will bring a sixteen- cylinder Cadillac to your door. oo remen -llon-l Union .... TITLE mu“ i‘?’. otate it Duquesne 43 B Tov uba East Cuba Sug 1%s Rub I Donner Steel Louls & Nash 7s. 100% | Nash Chat& StL 91 Market SUT8 40. . Y 96 Mil El Ry & L bs 10244 Ml El Ry & L bs 100% inn & StL ref 4 5 13k 13% 101% ' M St P&SSM cn 4s. %o $0% L 102 S s o 9 104% " . 99% Goodyear 68 ret: Humble O & R & Humble O & R 6%s 1 There is no quibbling about the protection of non-shat- Cadillac-La Salle Dealers welcome business on the G. M. A. C. Deferred Payment Plan The Washington-Cadillac Co. RUDOLPH JOSE, President ederal-American pfd nston Monotype Merchants' Trans. & Merchanty, Trans. & Stor. ptd. o1 AHUEND SARERN M SRR NOH®S - 94 100% 99% vt. Mob &0 4348 77... 1 P Mont T'rm ref thei 0 action on the qulmrly -mc Mdend ol 2% per cent, which s due at this time. CRUDE 0IL OUTPUT. NEW YORK. April 1 (#).—The d-flylvmnpfoa\muono(emdzalln 1136-40 Conn. Ave. lozu