Evening Star Newspaper, April 2, 1930, Page 14

FINANCIAL., NEW MARKET IS MOVING STEADILY FORWARD! Substantial Buying of Secu- rities Has Caused Ad- vance in Prices. BY JOHN F. SINCLAIR. Special Dispatch to The Star. ril 2.—The stock NEW YORK, Aorwu‘d. The best Discriminating buy- public participation, is ‘“émm stability in commodity prices, as shown by the Analyst price index for iast week, is a factor. A slight gain for the first time in six weeks was noted. Wheat and cotton moved up slightly. So did lead, tin and rubber. The basic commodities now should be near b as Standard Ol of New Such stocks . General Electric, West- e Beth Anaconds, inghouse, Bethlehem Steel, {m.\ted‘“ eS'-llu Steel and United Cor- tion advanced substantially yes- day. ay’s sales on the New York s&find!x’chme totaled nearly 5,400, 000, and yesterday's figures—5,161,000 —were only slightly under that m#l‘k. “Healthy and substantial buying” & the way one large operator described it. William Green's statement ~that 3,700,000 wage earners were out of work in February, with “the resultant loss of $400,000,000 in pa!y ex;\lrelopcs,‘ is a ¢ important statement. V'%hr-“i‘lpgor leader’s estimate of $1,000, 000,000 as the total loss looks like a ervative estimate. m‘l?’sx‘he country as a whole is that much poorer because these lost wages were ot employed in productive work,” said the Federation president, “for that much wealtn would undoubtedly be more than sufficient to turn the tide of business from recession to advance. Some day the Nation's best minds ‘will re out & permanent solution to pnvenn‘cuunempwymenL So far we are # long ways from that. ‘Unemployment means a drying up of wflhfilfl(wmmdldrym(upol purchasing power means bad business all around. The next few years should see a change in the public’s attitude toward the subject. *“High-pressure ulmg';tr?‘ude c:}hoe au- tomobile industry wi , accore to R. H. Grant, vice pmmidem of the lotors Corporation. G e automobile indusiry had fol- Jowed a passive course it could never have played so important a role in con- tribuf to American industrial pros- " he says. P srant has taken it upon himselt to answer the many stories which have in print recently concerning e “evils nfd the s;lnsl ngot;" ’ghzn l‘l;; lle industry, al ugl o s ‘swaddiing clothes” making excuses the business of merchandising automo- biles has attracted the dramatic sales type rather t.hnnuthe conservative, an- alytical individual.” ’-"t'ro this first type of individual"” he says, “we owe the mm-otflumdusmmmnotn- Gustry have these admirable traits been 50 _liberally rewarded.” Which shows that Mr. something of a go-getter While the Federal Farm Board is trying to persuade the hard pressed armer to Teduce his wheat acreage by 2,000,000 acres to eliminate overproduc- tion and price 3 heat to make busy fostering Wi mmAAtm!lo under state auspices. No state in Brazil produces enough wheat for ll_‘tz‘gv‘r.n needs. _}_1}1‘ many u?yl them no wi grown. e count depends upon Argentina and the United States for its supply. + From the Unl!el: av.x-nm‘ B'\:lfll lm‘; rru flour largely. fact, near) 0 per cent of the total flour export from the United States goes there. With this new development, which may very well result in a loss of this flour trade, the American wheat situa- tion becomes more ted. . by North American News- (Copyrisht, 1930, by A .m YORK, April ?T‘;fl! (o“:lw;:' today’'s summary of portant - num{ news prepared by Standard tatistics Co., Inc., New York, for the Associated Press. News Trend. Industrial and trade developments of tions in for the week of the lowest since 1922. Steel ingot pro- duction in the industry as a whole is averaging about 76 per cent of capacity against 73 per,cent in the preceding week and 74 per cent two weeks ago. This average contrasts with 95 per cent & year ago and 85 per cent in the like period of 1928. United States Steel Corporation advanced operation to 83 per cent compared with 80 per cent in the two preceding weeks. A year ago rate was 97 per cent and two years ago 90 per cent. Car loadings of revenue freight for e the week of March 22 totaled 875542 cars, a decline of 5645 cars under the revious week and 86,858 cars under the nk. ‘week of 1929. kco;npl:;gd ll{th the corresponding week of all com- modities showed declines. Sharpest | drops were registered by forest products and live stock. Miscellaneous freight declined 10.4 per cent and merchandise L. C. L, 4.6 per cent. The Companles. American Machine & Foundry ac- quires Martin Miller Co., manufacturer of baking machinery. Arnold Constable Corporation had deficit of $528,669 in fiscal year 1o January 31, 1930. In previous like fiscal year $1.39 was earned on common stock. ‘Auburn Automobile—Deusenberg un- filled orders on March 26 sufficient for 60 days’ production. Consolidated Gas, Electric Light & Power of Baltimore—Electric current first two months 1930 up 9.3 per cent: gas sales 3 per cent above like period year ago. Hollinger Consolidated Gold Mines had 8,000 stockholders at close of 1929. reserves at end of 1920 were valued at $47,819,398, compared with $51,210,- 235 at close of 1928. Kelvinator Corporation's March ship- ments, reported largest of any month in company'’s history, were two and one- half times those made in Fel ry. National Radiator had deficit of $1,234,328 in 1929, against deficit of $1,343,501 in 1928. Natlonal Tile earned $3.87 on common stock in 1929, against $3.64 in 1928, Reo Motor Car March shipments totaled 2,870 units, against 2,568 in B. F, Schlesinger & Sons defers pay- ment of class A dividend due at this time. Last payment, 37% cents a share, made on January 2, 1930, ‘Warner-Quinlan Co. March retail sales approximately 15 per cent ahead of February. Since beginning of 1830 has opened two new stations in New York City and six in Northern New .- Pifteen stations are in process throughout New York of capacity . ‘ 44% 32% Ludium Steel 36 50 McKeespt T P(143% ). 25% McKesson & Rob (2) Do Martin-Parry.. 37% Mathieson Alkili (3). 49 May Dept Strs (n3).. 16% Maytag Co (13).. 29% Maytag Co pf (3) 26% Melville 8hoe (3)... 15\ Mengel Company (3) 164 Mexican Seaboard 26% MiamiCopper (4)... 53 Michigan Steel (23%) 28% Aid-Cont Pet (2).... % Middle States Uil ot. 37 Midland Steel (3) 90 Midland Steel pt (8). 3% Miller Rubber....... 61 Minn Hon Reg(13%) 124 Minn Moline Fwi 72 Minn Moline pr 28% MStP&SSM. 66 46% Mo Kan & Texas.... 108% 103 Mo Kan & Tex pf(1). 98% 87 Missouri PacifiS..... 145% 134 Missourt Pac pf (6).. 40 26 Mohawk C Mils (3). K 60 48% MonsantoCh (g1%). 1 4% 6% Montgomry Wrd 3) 232 16 $% Moon Motors. 18y z 1% Mother Lode T% 4% Motor Meter G & 65 50 Motor Products (2) 26% Motor Wheel (3). 12% Mullins Mfg..... 18 MurrayCor(bz%stk. 45% Nash Motors (8). - AR mN - - e aw L =T 9% Natl Bellas Hess.... 71 Nat Biscuit, n (2.80). 65% Nat Cash Reg.A(14). 454 Nat Dairy (33)...... 20 Natl Dept Stores(3).. . 11 Nevada Copper (3)., 272 Newport CoA (3)..a Newton Steel ($).... N Y Airbrake (3.60).. - N ¥ Chi & St L pf(6) NY NH & Hart (6) NYNH&H (7). Norfolk Southern. .. North Am(b10%stk) North Am pf (3).... North Am k4 pf (6). Nortnern Fac (6). North Pac et (5).... No Ger Lloyd (3.43). Norwalk Tire & Kb. . O1l Well Supply.. Lliver Farm mquip. Ouvr Fr kg ev ptid) Omaibus Corp . Oppenhetmer Col (5) LUis Klevator ni2%) Qus Stee] (3%)..... Owens 11} Glass(nd). ' Pacific Coast. PacinoGas & £ Pacino Lighting Pacific Oll stubs.... 5 Packard Motor (1).. 420 Panhandle P & Paramount-F-L «4). Park & Tilford (33). o (RTINS P TE F Jree) e " Penn Dixte Cement. . Pennsyivania RRi4) Pere Marq pf (6).... Pet Milk (1%)..c000 Phelps Dodge (3)..., Phlla& Read C& 1. Phtiip Morris (1). Phillips Petrm (n3). Plerce-Arrow A..... Plerce-Arrow pf (6). Pillsbury Flour (3) Pitts & W Va (6). Pittston Company Poor & Co (B) 13)... P Rican Am To (A)T P Rican Am To (B).. Prairie Ol & Gas(2). Prairie Pipe L (16).. Pressed Steel Car. Pressed Stl Cpf (7) Proe & Gamble (3).. Punta Alegre Sugar.. Pure Oll (1%).....0 Purity Bakeries (4). . 15 Radio-Keith-Orph A. 620 RRSec1CatkC(4). 10 Raybestos Man 2.60. Rels (R) & Co. . Rem Rand (1.60). 92 Reming-Rnd 1st (7). 10% Reo Motor Car (.80).. 72 Repub Ir & Bteel (4). 72 Rep Ir&Stl ctfs (4).. 107 Rep Ir&Stlpf (7)..: 4 Reynolds Spring. ... 49% Reynolds Tob B (3). 22% Richfleld Ol (2).... 16% Rio Grande Ofl (3).. 44% Ritter Dent Mfg (13) 37% Roasta Inc (2.20).... 49% Royal Dutch (83.20). 93% Safeway Storesies). 4814 St Joseph Lead (13). 107% St L-San Fran (8). 92 59% 31% 24% 13 4% 1214 9% Seaboard Air Li 14% 9% Seagrave (e1.20. 23 9% Second Inv. 3% 2% Seneca Copper. 12% T% Servel Ine. 32% 22% Sharol NEW SECURITIES YORK, April 2 (#).—New security offerings today include: State of North Carolina, $8920,000 4% per cent bonds, due January 1, 1932 to 1952 and April 1, 1933 to 1972, priced to yleld 4.15 per cent. Offered by Pirst National Bank of New York, National City Co., Continental Illinois Co., Inc.; Pirst Detroit Co. Inc., and others. American Utilities & General Cor- poration, $4,500,000 in $3 cumulative preferred stock and no par class B stock in units of one preferred share and one and one-half B at $45 a unit. Mississippi Power & Light Co., $4.- 000,000 cumulative $6 ferred stock, at par. Offered Ww. C. l‘w ln:’ [ nutlh First National Col rporation. SR e o, ge 4'% per cen ), due 1978 at 93%. Offered by Harris, Forbes & Co. and others, Province of Manitoba, $1,570.000 30- T 85 3 108! 1 92 1 138% 26% b3% 4l% u % coaQagaaaaaa nuRBHnREGEn®n , S & Foreign Secur. & For Sec pf(6).. Freight (3)....e Hoffman (2)....: ind Aleohol (17). Leather......... Pipe & Fdry (3). Pipe 1at pf (1.20) Realty (5) Rubber. . Rubber 18t pf. Smelt Ref (334).. U S Smelt Ref pf 3% U S Steel (7)., U S Steel pt (7). U S Tobaceo (4). Univ Leat Tob (3). Univ Pipe & Rad....; Utll Pwr&Lt A (e2).. Vadsco Sales Cor; YORK STOCK EXCHANGE Received . by Private Wire Direct to The Star Office. Shubert Theatres. Splegel-May-St (3 Simmons Co (g3). Simms Pet (1.60 Sinclair Con Skelly O11 (2). Solvay Am Inpf6i. So Por Rico Sug (2).. Southern Cal Ed (2). Southern Dairles B.. Southern Pacific (6). Southern Rwy (8)... Southern Ry pf (§).. Spalding(AG) (3) Spang-Chalfant. Sparks Withngtn(1). Spicer Mfg. o Spicer Mg pf (3).. Stand Brands (13). Stand Comm Tob. ... Stand Gas & £1 (3%) Stand G & E pf (4) Stand Invest Corp. .. Stand O of Cal (234). Stand Ofl Exp pf (5). i Stand Ofl of Kan (2). Stand OHl N J (12) Stand O1l N Y (1.60) Sterling Seo A. Sterling Sec pf(1.20) Sterling Sec ov pf(3) Stew-Warner (h 3%) Stone & Webster (4). Studebaker Co (5) Submarine Boat. 1l (2 12 16 eee 6 Sweets of Amer (1).. Symington....... Symington (A). Telautograph (11.30) renn Cop & Ch (1) + Texas Corp (3)..e.a. Tex Gulf Sul (4) Texas & Pac (5)..... Tex PC&Oil..ovee Texas Puc Land Tf. . Thatcher Mfg (1 Thatcher pf (3.60)... The Fair (2.40) Third Avenu . Third Natl Inves (1). Thompson J R (3.60) ‘Thompsn Prod(2.40) Thompson Starrett.. Thomp-Star pf(33%). Tide Water Asso 60c. Tide Wat Asso pf (6) Timken Det Ax( Timken Roller (3)... Tobacco Products. .. Tobacco Products A. Transcontl Oil (30¢). Transue & W (1).... Trico Prod (2%) Truax Traer (1.60).. ‘Truscon Stl (g1.30).. TwinCity Rp T (4).. Und-Ell-Fisher (3).. Unlon Bag & Paper. . Union Carbide (2.6 Union Ol of Cal (32) Union Pacifie (10) Union Pacific pf Unlon T'k Car (1.60) Utd Atrcrafi& Trans. Utd Afreraft&T pf 3. 0). @ o). o » EYTT - EPAeres 9 T A T T o - » S ea 8 A= 88e United Fruit (4)..... Utd Gas & Imp(1.20) Utd Gas & Im pf (5).. Utd Paperboard..... Unit Plece Dye W (2) - - - S, » © aSkenErO S anRearREaRMRE A - S = o Ward Baking B. Ward Baking pf (7).. Warner Bros Plo (4). 2! 3 1% B 3% 10:30 A M. 1:30 P.M.. Dividend rates as payments based on trading in stock. § Payabi 31 in” stock. olders. Offered by Chase Securities Corporation and others City and County of San Francisco, $3,306,000 serial 4% per cent bonds, due 1935 to 1955, priced to yield 4:30 per cent, Offered by Lehman Bros. and syndicate. —_—— STANDARD UTILITIES, INC. BALTIMORE, April 2 (Special).— Standard Utilities, Inc., has been or- ganized under Maryland laws to acquire ‘common stocks of leading public utility companies. The company will begin business with initial investments in the stocks of 30 of the principal operating and holding companies. Authorized capitalization of the cor- poration consists of 1,000,000 shares of common and 10,000 shares of class B | stock. U. 8. ;;EASURY BALANCE. ‘The United States Treasury balance, business announced today as of close of March 31, was $368,767,814.65. Cus- toms reeellm- for the month to date ‘were $42,610,037.97, ‘Total ex- ' penditures, $6,403, Warren Fy&Plpe(3). Webster-Eisenlohr. . Wess Oll & Snow (3). Westn Dairy (B).. Western Maryland, Western Pacifi, White Sewing Mach. White Sw Mch pf (4) Wilcox 01l & G Wileox Rich, B « 3,609,400 ven 1n the al e Reen wrmg less than in scrip. no regular rate. b Payable able in or stock. b Plus 2% in stock. J Plus 8% n 5 Plus 8% BouBeneran - 1, SruantBiauBonrnennas < Wrigley Wm (4) Yellow Truck & C. Young Spring (3).... Young Sheet & T (5). Zenith Radlo........ RIGHTS EXPIRE Am Roll M. ChiR1&P Fox Film A. Int Tel&Tel. May 1 Pac Lightg..May 1 SoCal Ed... Sales of Stocks on New York Exchange. June 16 b 2% B% % bl LApr 31 % 868,100 3 +2,661,700 127,600 tables are the 3 he ganus) cash 1n stock. in stock. o PENNSY BUYING INTO BIG NEW ENGLAND RAILROADS Most important change in stockhold- |mngs of the Pennsylvania Railroad Co. during 1929 was the acquisition of 100.- 000 additional shares of common stock of New York, New Haven & Hartford Railroad Co., with which the Pennsyl- vania interchanges a large volume of traffic. ‘The initial report of the Penn- road Corporation, issued a few days ago, also officially disclosed that that cor- poration had acquired common and preferred ctocks of both the New York, New Haven & Hartford and the Boston | 0! & Maine, although the extent of Penn- road’s interest in the two New England railroads was not disclosed. BUYS OIL PROPERTY. Shell Eastern Petroleum Products, Ing, has for $250,000 two- thirds of 3 %‘&S'&u Orange and Buckingham Counties, Virginia, and include eight numa tations and two wholesale planf o 1% s 12; in bulk, of Albemarle Oil he propertics are located | WEDNESDAY, Washington Produce | on mev vorx B Butter—One-] prints, 41%;842; tub, 405841, “Hennery, 26; cur- rent receipts, 24'2825. Poultry, alive—Turkeys, young, 34a35; old, 28a30; Spring brollers, 40a42; Win- ter chickens, 32a35; Leghorns, 33a34; fowls, 28a30; capons, 32a35; ducks, 15a 16; keats, 60a65. Dressed — Turkeys, young, 35a38; old, 32a35; Spring broil- ers, 46ad8; Winter chickens, 37a38; Leghorns, 37a38; fowls, 32; capons, 35a 40; ducks, 25a26; keats, 80a90. Meats, fresh killed—Beef, 20a23; veal, lamb, 22; pork loins, 28a30; 26; fresh shoulders, 22; 28; smoked shoulders, 28; lard, in packages, , 13, Live stock—Calves, 8a13; lambs, 10a 13; Spring lambs, 20. INCREASE IN INCOME TAXES IS REPORTED Final Statement for March Reveals Gain in Nine-Month Total. By the Associated Press. ‘The Treasury Department's final statement for the month of March to- day showed income taxes aggregating $627,524,917 were collected during the first quarfer of the present calendar year, sending the total for nine months of the fiscal year to $1,812,137,844, an increase of $125,574,244 over the same period of the previous fiscal year. Total receipts for the present fiscal year were $3,042,150,971, with three months remaining. Total income and miscellaneous tax collections for the last quarter of the previous fiscal year amounted to only $801875,000, which would bring the total receipts of the Government with this amount added to less than $4,000,000,000. The Jreasury had estimated that the total expendi- tures for the year would amount to $4,- 023,681,000 Other receipts, such as received from miscellaneous sources, foreign obliga- tions, Panama Canal tolls and customs receipts, etc., however, might make up the difference, and Treasury officials have expressed the hopeful feeling that there would be a small surplus at the end of the fiscal year. Compared to the total receipts for the first nine months of the fiscal year, amounting to_$3,042,150,971, the total expenditures have aggregated $2,932,- 209,145, leaving an indicated surplus of $109,941,826. Out of this, however, the Treasury will have to provide for the | & additional $100,000,000 recently allotted to the Federal Farm Board. MILLER TRAIN CORP. HAS STOCK SPONSOR ‘The board of directors of the Miller Train Control Corporation announce to stockholders that arrangements have been made, effective April 1, with Sulz- bacher, Granger & Co. of New York City, to trade in and conduct the mar- ket for the stock of the Miller Co. This announcement is of more than ordinary significance for the reason that Sulzbacher, Granger & Co. are mem- bers of the New York Stock Exchange, Philadelphia Stock Exchange, Chicago Board of Trade and a number of other exchanges of mnatiol character, and are well known in financial districts. ‘This connection, Miller officials say, is in keep with the increased busi- ness in Trafilators, the new magnetic actuator for controlling traffic signal lights, which are manufactured and sold by the Crouse-Hinds Co., under license agreement with Miller Control. Miller Train Control stock is widely held in Washington. The company maintains an office, and headquarters are in Staunton, Va. - Washington Stock Exchange SALES. Wl.ih{nlmnlau 6s “B"—500 at 10435, Barber & Ross 6!35—5,000 at 89. Capital Traction Co.—12 at 79, 10 at 79, 5 at 79%, 10 at 79%, 5 at 79%. Potomac Elec. 6s pfd.—5 at 112%. Potomac Elec 5%s pfd.—3 at 108%. Wash. Railway & Elec. pfd—2 at 97. Federal American Nat. Bank.—10 at 293 Riggs National Bank—5 at 530. Mergenthaler Linotype—20 at 107Y National Mort. & Ins. pfd. 100 at AFTER CALL. Washington Gas Light—10 at 122, 3 at 122 Mergenthaler Linotype—10 at 10 Pot. Elec 5148 pfd.—30 at 108%. Washington Gas Light—15 at 122. Bid and Asked Prices. BONDS. PUBLIC UTILITY. kmer. T!ll t 'l'elllIi 438 "33 Ao s Fol el 8, 82 acostia & Pot. R. R. 7 . . 4%, $328 1953 Gas 6 Wash., Alex Wash.. Baito. Washington wiash, Ga Wash: ber & Ross, Inc Barl Cham.-Vanbit. Hotel Chevy Chase Club & D. aper MIg. 6s.. 38252, PEFS o 3 wy. & Elec. 48 goeaiae STOCKS. PUBLIC UTILITY. ot wi Wi Wi 3 Wi inito *Ex-dividend. NATIONAL BANK. National Capital Columbl District Federal-American Second National Bank of TRUST COMPANY American Secullt{ & Tn Oo. tal Trus Seve, Ubited State Wasihngton Mechani American ) Fationa1” Uilon’ TITLE INSURANCE. ‘olumbie Title Insurance Soal Batate Title Tos. . Title & Inv, of Md. com. Barber Ross, Inc.. com.. %flé'fc?""l'u'x 5 o Bapes Al Dist’ Secul Emerson_ Bromo-Seitzer rrfl:r nlhn':l P‘J 35558abuneEts Lanston Monotype . rans. & Merch Tans. & Stor. ple Mergenthaler Hotl, Mtge & Linotype . t. Mtg. & Gua y. 2 lfl'l’; 1t - inv. pl Stores bl APRIL 2, Recelved by 1930. Private UNITED STATES. (Sales are 1o $1.000.) Sales. High. 26 10017 64 10118 68 101 20 1100 14 3 100 20 75 104 28 510719 3 11118 Low. 100 13 10118 101 25 100 14 100 20 104 25 107 19 11116 11 FOREIGN. . High. Low. 2:58. 89 834 95% 95% 116 89 96% 100% ¥9% 99% 1 Bank of Chile 6 %8s Bank of Chile 6%s. 2 102% | Rto Gr do Sul 109 ¥ 109 1 Bollvar 7s 58 Bolivia Ts et €9. Colombia 6s Jan 61 Con Pow Japan 7a. Copenhagen §s et. Cuba 6% Czecho 88 1951... Denmark 43%s. Denmark 5%s 55. Denmark és....... DE16%s Mch52.. Dutch East 1 6s 62 4 10 ® » amnal aonans =bia German Bank 6s'3. German E1 P 6%s German7s..... Ger Gen Elee 7s, 194 Norway 6%4s 1952. 1 Orient dev 5% 68... Orfent Dev'mt 6s 63 Paris-Ly-Med Paris-Ly-Med Qu Rhine Rhine West 68 63.. Rhine Wst EP 78 §0 Rio Gr Do Sul Rio de Janeiro 6348 Rio de Jan 88 1946 = ShBaanan~e meaxarhas a R EIEA~TTN @ el 1 1 1 Utd Kingm 6% Unt § 8 Co Uruguay 6s 1980. Uruguay 8 Vienna 6s 62 - Sroemma 100% 100% 06% 106% 98 93 99 98% 1024 109 112% 108% 115% 1104 824 814 9Tk 86% 86 914 100% 101% 100% 108% 9 12% 15% 02% 925 99% 8l Y8% 04% 004 98T 06% 20 814 9% 934 104% MISCELLANEOUS. 20 Am Agri Chem 1%s & Am Beet Sugar 6s 3t 4 AmChain6s383.... 4 AmChem 6%scv 49 56 Am Cotton O1l bs. . Armour&Co 4 Armour Del & Atl Gulf 68 69. Atlantic Refin Bell Tel Pa Bethiehm Stl Beth Steel rf Bklyn Edison Certn-Td 5 %s rots. Cl Com Inve Com Invest 648, Con Coal Md b ConGasN Y 6% Consumers Pow 6s. Cuban Am Sugar 88 Duquesne ¢ %8 Bast Cuba Sug 1%» Fisk Rub 8 111 Bell Tel 6 tnland Sti ¢ Intl Cement Intl Mateh Int Mer M: inter Pape! Int Tel & Tel 4 %! int Tel&Tel ¢ "ntl Tel&Tsl bs Kan City P 4 106 Lackawanna St §s. 1 102 102 Laclede G 5348 83ea. ;l 108 108 1084 9N 122% 97 104% 106 9% % 100% 100% 8114 93% 1045 1005 98% 106% 89% 81% 9% \¢| Green B & W deb 91k 122% 7% 104% 106 102 FINANCIAL. w. 32:58. 103% 104 121 120 6102 101% 101% 37 18 13 5 101% 101% 101% 1 102% 1024 102' 5 101% 101% 1013 2 84 B4 R4 35 100% 99% 100% « 2 28 28 28 10 104% 104% 104% 2114 114 114 4 100 9% 100 20 106% 1065 106% 1 111% 111% 1% 7 102% 102% 102% 3 101% 101 101 13 101% 101 101 .1 107% 107% 107% 6 1024 102% 102% 13 101% 101 101 13 60 59 69 46 100% 100 100% 9 99% 99 99 $5% 5% . Nat Da.ry 6% Postal Tel &C 5 Pub Serv e 984 4w 9% 3 96% 96K 964 4 100% 100% 100% 16 97 96% 96% 1 100% 100% 100% 4 102% 102 102 20 104 103% 105% 21 99% 99% 99% 98 99 5% 95 95 3 104% 104% 104% 9 105% 103% 106% 20 103 103 103 29 9% 96% 96 5 39 39 39 3 101% 101% 101% 10 106% 106% 106 Tex Corp cv 68 1964107 104% 104 104 94U Richfleld O11 Sinelatr O11 ¢ Stand O1i N J Stand O N ¥V ¢ AT QUIET SESSION New Issues Are Somewhat Larger—Municipal Group Is Featured. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, April 2.—With attention turned toward the increasingly active stock market, bond trading today was again a quiet affair and the pirce trend was uncertain. Volume was light during the early hours, but picked ’:p a little after noon. ‘There was a slightly larger budget of new flotations, the aggregate of $31,= 221,000 including $17,151,000 of munic~ ipals. These were needed to keep this ulfet‘lion of the investment market sup- plied. The largest item was $8,920,000 North Carolina 458, maturing serially 1932 to "'lz. sold at prices to yield 4.15 per cent. This level about gauges the rest of the municipal market at present, some choice issues selling as high as a 3.65 per cent and some as low as a 4.50 per. cent basis. A San Francisco offering of' $3,306,000 bonds with a 414 coupon were' reoffered at a 4.30 basis. The last issue’ of this city, put out at par in Decem= ber, was resold to yield 4.50 per cent. Canadian provincial offerings are in preparation and an issue of Caterpillar | Tractor convertible 5 per cent bonds 15 shortly to be announced. The has no outstanding bonds. s STEEL MERGER REPORT Transcontl Ofl 6348 9 102 102 102 9% 9% 9T% 8 B87T% 87k 8% 6 100% 100% 100% o 7 100% 100% 100% .. 60 92% 92% 92% 5 92% 91% 91y Utilities Pow § Walworth 6s ¢ Walworth 6%s 35. War Quinland és ‘39 Warner Sug Weatern Eleo Westn Union White Eagle 0 5%.. Wick-Spen ev 1 105% 105% 105% 6 108% 103% 103% 5 103% 103 103% 1 109% 109% 109% 1 106% 106'% 106% 3 36% 35% 35% Wilson & Co 1s 27 101 100% 100% Win Repeat Ar 733 3 103 103 10: Youngstn S& T6s. 11 102% 101% 101% RAILROAD. 35 94 93% 32 140 139% 139% 3 88% B8W 8B4 AtlanticC L 1st Balto&Ohlo gold 48 20 941% 94% 94Y% B&Ocviys 29 100% 100 1004 129 104% 103 103% « 28 102% 1021 102% 5 103% 102% 102% 4 105% 105% 105% 109% 109% 94 10 103% 103 3 86 €6 99 95 29 o 9615 8 % 95 9103 103 9 102% 102% 10-% 2100 100 100 1 116% 1164 116% 5 111% 11% 111% 6 86% #6 86 6 103% 103% 103% 141004 100% 100% 5105 105 105 4 94% 931c 94% 20 1035% 103% 103% 6 100% 1C0% 100% 0 989% 9% 977 Buff R & Pitts ¢ %8 Can Nat 4%s ‘54 Can Nat 4348 " Can Natl 5s July 6 Can Natl 6s Oct ‘69 Can Nor44s 1 Can Nor 6%s... Central of Ga §%s. Cent Pac 4 Cent Pac 1st Ches & O Corpn os. Ches & O gen 41, Ches& O 4%893 A. Ch & O 4%s B 1995. 1 16 31 5 H 97 694 92% 5 97% 2 106% 106% 106% 25 83 A2 ¥2 1% 964 94 73 804 1 90% 90% 90% 69 102% 102% 102% 6 106% 105% 105% 4 100% 100% 100% 20 9% 9TV 9T 41 9% 4% 94% 11 100 991 993 3 9 90% 90% 1 98% 98% 984 Chi M&StP 4 %s E. Chi M1ISP&Pacs: 1 CMSP&Pac sdibs02 CCC&StL deb 4%s. CCC&SIL ¢%s B, 97 o 6 103% 103% 103% 57 984 98 98 1 104% 104% 104% 2 81 80% 81 1 86% 864 86% 3 89y 89% 894 5 65 65 65 28 93 92% 92% 1104 104 104 3 100% 100% 100% 1 95% 951 85% 12 98 98 93% 93% 31 31 98% 98% 61 864 84 84% ¥2% 82% 95% 9 101 101 2 112% 112% 112% 1 68 58 85 2 334 334 33% +1 8¢ 84 84 17 106% 106% 106% . l§ l:_l,% ll% 111% % 9T% 9% Great Northn 1st 68 20 95% 951 95% Gt Nor 6 3 110% 110% 110% 15 112 1117% 1% 8 33 32% 32% 81% 81 814 97 9% 92% Cuba Nor 4w ots. . Del & Hud 1st rf Den & Ri0 G en DRG & Wst 6 DRG & Wat 58 7 Des M&FtD 4s ctfs FlaEastCos74... Fonda J&G 4%s 63, Hud & Man a) 6 Hud & Man ref 6s 111 Cent ref 4: Int & G Nor 1st Int & G Noradt Int RysC A 6s ¢ Kan City Ft 8 Kansas City Lake Shore 2 984 93% 93% 10 96% 961 96% 5102 101% 102 10 100 - 99% 100 o5 mow obx o 4 . 95% 95% L&N4lks 2003 .. 29 9§y Louls & Nash 6% % 1080 100 Louts & N: Man Ry ist 92 5;% b8 581 9 Mil El Ry&Lt 4 %8 't 100 MIlEl Ry & L s 61 Hinp & StL ref ¢s.. MStP&SSM 6s gtd. MK&TprinésA. MK&Tad) b 3 Mo Pacific gen és.. K&T ¢ ne 4 804 80 2 881 88% el 5101 100 100 - 37 100% 99% 100 12 1004 99% 100 Pac6%s 49 evt. 10 1134 11214 112 Mob&Ogn4s3s.. 5 941 94 9uy 1107 107 14 79 8% 79 4 100 100 100 2222222222 g1 g g e - S 97% | IS GIVEN STOCKHOLDERS By Ym. Associated Press. ‘OUNGSTOWN, Ohio, April 2.—The Youngstown Sheet & Tube l(’:o. and the Bethlehem Steel Corporation today pre- sented to Sheet & Tube stockholders Treport by three accounting firms hold~ ing that the terms of the proposed merger of the two firms are “fair and fl‘;or::le" to ,Sheet & Tul stock- The statement said that three ac- countants based their comparison on four factors—relative fixed charges, working capital, book value and earn- ings. In each category they reported that the terms of 1Y, shares of Beth- lehem for 1 share of Sheet & Tube are favorable to Sheet & Tube stockholders. Weighted earnings from 1925 to 1928, ‘inclusive, are used in the earnings com- parison, which was made between 1,800.- 000 Bethlehem shares and 1,200.000 Sheet & Tube shares. A different set- up was used for 1929 earnings, which were not based on a per-share earning, but adjusted for both companies ac- cording to conditions. The report, signed by the three auditing firms, was published in Youngs- town newspapers today as a fullz;gn both - advertisement, sponsored by lehem and Sheet & Tube. B. Taylor of Elyria, Ohio, & in the Youngstown Sheet Co., today filed a petition for a mandatory injunction to ire company officials to give him awu which would establish the value of the cammo“ n stock of Bethlehem Steel Cor- poration. Baltimore Markets Special Dispatch ¢ The Ster. BALTIMORE, Md., April 2.--Potatoes, white, 100 pounds, 2.25a2.75; sweet po- tatoes, barrel, 2.00a3.00; yams, barrel, 2.00a3.00; asparagus, dozen, 2.00a7.50; beets, crate, 2.75a3.00; beans, hamper, 3.25a6.00; cabbage, hamper, 2.25a3.25; | carrots, bushel, 1.40a1.50; caulifiower, crate, 1.75a2.50; celery, crate, 2.50a3.50; lants, crate, 1.50a4.50; lettuce, et, 1.00a2.00; kale, bushel, 60a80; onions, 100 pounds, 2.00a2.50; peppers, crate, 1.5024.50; parsnips, basket, 608 inach, 00; 475; oranges, box. & 3.385.50; strawe berries, quart, 25a50. Live Stock Market. Cattle—Receipts, 50 head; light sup- ply; market steady. Steers—Choice to prime, none; good to choice, 12.00a12.50; medium to good, 11.00a11.50; fair to medium, 10.00a10.75; plain to fair, 9.00a9.75; common to lls—Choice to prime, none; good to choice, none; medium to good, 8.50a9.00; fair to medium, 8.00a8.50; plain to fair, 7.5028.00; common to plain, 7.00a7.50. Cows—Choice to prime, none; good to choice, none; medium to good. 7.00a 8.00; fair to medium, 6.00a7.00: plain (c; ;;lr, 5.0026.00; common to plain, 3.50 a4.50. —_— 33 2 102% 102% 102% 10 85'% 85% 8 5 5% 8ox soe L 79% 9% 179y 9 94% 93% 93y 3 1333 132% 1328 2 105% 105% 105% 6 50 50 50 (3 2 s & 32222 2 ardrd o §zzzz a guyzuzm arzZenr I EERY 3302 Fi v o1 1 5 105% 105% 1080 8 118% 112% 1134 2 82 82 821 1 90% 0% 90% 7101 101 101 4 99% 99% 10 100% 99% 100 2 108% 108% 10834 15 104 1031 1083 “ee 39 109% 109% 109% 5 103% 103% 103% ... 13 108 108 108 PCC&StLE6sBT6 1 107% 107% 107% Port Bl P L &s. . 993 991 998 Port RL & P6s 42, 9% 99% 99% Readine gen 4348 A 99 991 RIoG W 1st 23 93 851 86% RIATRK& L ¢%s 8% 99 St LIM&Sgn6s'31 2 100% 100% 100% StL Pl 4 5 91k 014 91% 40 93% 92 93y 2 103% 103% 103% 3 99 99 99 3 1065% 106% 106% West Shore ¢s 81 6 101% 101% 101% WisCentgnés ¢0.. 10 Seab AL ref ¢ Seab AL adj Sou Pacelt Sou Pac ref ¢ 128% 123% 5 94% 94t 94% 25 102% 102% 102% 5 52 52 52 1 81% 31% 31% 20 100% 100% 100% 2 50% B0% 5O% 35 95% 94% a4y 5 9% 9K 9% 1 w0 i ] 1 99% 99% 99 7 105 105 106 2 100% 100% 100% 4 94 94 w4 1 103% 108% 105% Tol Tr LAP %s Ulster & Del 4 Union Pacifio 1st 48 Un Pll'l.ll 25 Wabash 5% iee West Maryland ¢s. 82% 82 82% West Pasifio <147 98% ”m "m 3 2% 8% ONDS == wes] [BINDS IRERULAR »