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. FINANCIAL. TIITIES FEATURE TRADING ON CURB/... Market Continues Upswing of Recent Sessions—Trading in Large Volume. BY JOHN A. CRONE. Special Dispatch to The Sta: NEW YORK, April 2.—Virtually all sections of the curb market shared in today's upswing, with trading the most active of any session this year. Leading power and light issues like | HElectric Bond & Share, American Superpower and United Light& Power A | encountered some profit-taking around m:luldny. but they resisted such selling well. Niagara Hudson Power, which will play an important role in the re- alignment of utilities in the East, opened at & new peak on a block of 13,000 shares. [Eastern States Power B and St. Regis Paper, now considered more of a utility than a papermaker, rose to new heights on the Niagara move. xnn shares also shattered its pre- us record. . Electric Power Associates, Electric Rower & Light option warrants, Hydro- Securities and nearly a score other utilities climbed to or above previous peaks on brisk bidding. ‘The movement in natural gas shares was based on Chicago advices indi- entn.b"mne preliminary negotiations have n concluded between the Insull and Doherty interests and several other important groups for piping natural gas from the Texas fields to Chicago. Citles Service subsidiaries, such as Arkansas Natural Gas, common and A shares, first benefited from this news and moved to new tops, but they were immediately followed by Memphis Nat~ ural Gas and others. Many natural s issues rose fractionally as leaders of the group forged ahead. Al um, Limited, Columbia Pic- tures, Aviation Corporation of Americas and Anglo-Chilean Nitrate, all of which attained maximum quotations. for_the year, fllustrated the diversity of today's u| in the first part of the session. All-America General _ Corporation, !hensndolhd wfim&?mmconmenul common an uf were the first of the active tr\m.:m::s trading corporations to move to new highs. Petroleum Corporation of Amer- ica, which had while the oil shares advanced, also moved to new high ground. — HARDWARE DEMAND. NEW YORK, April 2 (Special),—Un- seasonable weather in many sections of the country continues to be one of the principal retarding factors in hard- ware sales activity, Hardware Age will say tomorrow In its weekly market sum- mary. Blizsards in the Middle West and cold or rainy weather in other territories affected the demand for sea- sonal goods. While business so far this year has not been on a par with that of last, the difference, in most in- stances, is nominal and improvement is indicated. Most wholesalers remain optimistic over the outlook, as pi are brightening considerably. me jobbers express confidence that this s volume will equal, if not exceed, t of last year, basing their opinion on the prediction that business will show steady improvement for the bal- Pfi;‘l ?fim are fairly steady. revisions are While numerous minor being made, few are consequential in o;’ru:ue-uy the only general i iiigd PARIS BOURSE PRICES. PARIS, April 2 (#)—Prices were firm xchange centimes. The dollars was quoted at 25 francs 55 centimes. 100,000 VIEW TRAIN. More than 100,000 peogle " ,” new_CI Ohio-Hocking Valley-Pere Marq train, during its exhibition trip in cities between Lake Erie points and Norfolk, Va. It is now operating on regular schedule. 23 it L 55 A mpire O&R 5%af sk Rubber 57 Mo g, 3 Bd Ot 6 sull_Utilities ter Pw Sec 1 Se. w 90 . 94 6. 941 E '57. 953 Feow: enn Doc & W enn O Ed 65 ‘51 xw enn BR 4155 "70 wi. hila Elec 5ias 80 hila_Elec 512x '72.°] 5 Pug S PAL 5iyx '49.0 1023 1093, oval Dutch.. . .. 00 " g0 ilic Gel 6153 *32 ww 106 108 immons 5s 44...... 96 O SE P&L 65 A 2025 X 0 8:8outh ~alif Ed South Calif Ed 55 5 South Calif Ed 5s N G 6 Southern Gas 65 '35 Southw P&L 65 A 2023 1 and Inv 5los '39., innes 78 "46 XW.... ft Co S8 '32 101 ) %ol Cailforaia::: 88 aliforn) *59 ww 102 " 1 62 _97% il P & L 5% .. 1008, 60 10805 YT T 10817 10812 10845 % 107 250 Beon Ben ot e 3 B! 2 2 23 g 3 gig2nee 59 infa RY 475 B abesh 5s D ‘es Union Tel 55 Cmun ShonnSwon-, W sgsc 830e8 ;' > i1 lord ... ¥ Fras Ts 43, xw up Pow 6 '63. doza Pr 7128 'S1.. ¥ 8 6752 Co 6" ig 35 ? % 37 Q! s PR those designated by the those stocks to be sold —~Prev 1930.— Hish. Low 52% 42% Acme W Co vte (32). 314 1% Aeronautic Ind war, 8 Aero Supply Mfg B). 19 Agfa Ansco..... 21% Ainsworth Mfe $3 34 Alr Investors vte % Allled Aviation, . 5% All Int Inv Corp 33 Allfed Int Inv pf (3). 10% Allied Mills (60¢) % Allison Drug 8t B 845 275 Aluminum Coof Am. 10814 105% Alu Co of Am pf (6). Aluminum Co. Ltd. . 37 Am Chain (3). 37% Am Cit P&L A . 14 AmCP&LB (b10%) 23% Am Cwith P A b109% 341 Am Cwith P Bb10% 3% Am Cmwith Po % Am Control Ofl FI; 25% Am Cyanam B (1.60) 15% Am Eguities. . % 60% Am For Power wa: 113% Am Gas & Elee (31).. 16% 10 Am InvestIneB.... 7% 4% Am Investors (war). 9 225 Am Lt & Tract (10). 5 72 Am Light & Tractn. 62%. 45 Am MfgCo (4). 3% 123 59 8 19% 14% 6% 7 4% 50s 56 11 Am Maracaibo, 1 24 6 14n 1 9w 1 22%, 23% Am Superpower (1). 183 35 O4% Am Super 1stof (6) 2 241% Amster Trad (1%). 1 28 Asso Tel Util (b7% ). 3% Am Thread of (26c) 11% Am U&Gen B vte 40c 6 Am Yvette tnew) wi 17 Amrad Corporation. . 11 Anchor Post F b10% 15% Anglo Chil Nitrate.. 9% Arcturus Rad Tube. 26% 284 3% 4 25 b rta.. Asso Laund (320e).. 4% Asso Rayon. " 29% Asso Rayon pf (6) % Atlant Fruft & Sug.. 15% Atlantic See Corp. ... 221 Atlas Plywood (2).. 7 Auto Musie (A) (1).. 24% Aviation Corp of Am T4 Aviation Securities.. 122 Babcock & Wil (19).. % 2% Bahia Co: A5% Rrazil Tr & Lt (2).. 21 Brown F&W (A)2.40 104 Brill Corp. A (65¢) 11 Brillo Mfg....... 3 Burco. Ine (war) 10% Rutler Bros (30c 4% Bwana M Kubwa. 3 Cable Radio T vte. 2% Cab&Wire LtdA rets 1% Cab& Wire LtdB rets 81 Can Marconl........ 23% Canada Gypsum 1%. 51 Can Pacific(new )w.i. 26% Carnation Co ($13%). 80 Celanese 1stpf(17%) 81 Celanese Corp pf(7). 25 25% Cent Public Servie: 3 34% Cent PSv A (a1.36). 21 19 Cen States El (140¢) = 42 72 Cent Sta EI'Df(6)xw,'” 1 4% Centrifug Pipe (60e)’ " 5 25 Chatham Phoe Allied Ohio (new).. 261 Cities Service (330c) 35 88 Citles Serv pf (6)... 63 Clev El Illum (1.60). 18 Clev Tractor (1.60).. 5% Colon Ofl. . 26% Colts Pat Fire A (2). % 24 Columbia Ploture % 14 Columbia Syndicat. 293% 234 Com'with Edison 6% 3% Comwlith & Sou war. 201 6% 12% Com Wat Ser (b6%) 6 174 16 Consolidated Alrerat % Consol Auto Merch.. 6 1 5 Consolidated Copper 2 7% 13% Cons Dairy Prod 2 90% Con Gas. Balto(360) 8 1 21% Con Gas Ut A(2.20)., 13 ConGasUtLBvte.. 3 Cons Instrument. 10 Cons Laundries. 10% Con Retall Strs (1).. 28 per Bessemer(2) 38 Cooper Bess pf A (3) 14% Copper Range (2). 114 Cord Corp. - © rOsRre~NaSnamBannSennos & 8 18% Crocker Wheeler. . % Crown Cent Petrol. # Cuban Cane pr opt w. 8512 Cun Presspf (6%).. 2% Curtiss Alrports vtc. 6% Curtiss Flying Serv. 1% Curtiss Wright war. 1 Cusi Mex Mining.... 7% Darby Pet (1). 3 Dayton Alr & En % Dec R Ltd (Am shs). 113 Deere & Co new w.i.. 2% De Forest Radio. 4% Derby Oil & Refin. 8% b6 Detroit Atrcraft Cor, 23% 10% Dix Gas & Utilities. %4 % Dolores Esperanza. 20% 12% Douglas Alr (750). 65 62% Draper Corp (15) 45 31 Dres(SR)MIgA 66% 41 Driver Harris(new 18% 8 Dublller Cond&Ra: 200 145 Duke Power (15).. 4% Duran: Motors. 25% East Gas & F Asso 2 18% East Sts Pow B (1),. 130 7% Fastern Ut Inv A.. 15 14 Eisler Electric (1%) 150 80% El Bond & Sh (b6). .. 440 103% El Bond & Sh pf (6). 24% Elec Pow Ass0 (1),.. 22% Eleo Pw Asso A (1).. » —— 86% Emp G F cum pf (7). 40 Emptre Pwr Corp(3) 19% Emp Pub Sv A(1.80). 6 Empire Steel Corp. .. 22% Employ Reinsur 1%. . Enginy Gold. 18% Europan Eiee (The). 8 Europe El L.td opt w. 34 Eva, low Lead. Ex-Cel AIr&T (120) Fabrics Finishing . . A Fairchild Aviation. ., Fajardo Sugar ¢ % Falcon Lead . . Fansteel Products. .. = =3 ace o oS E8ne nailonSaonnET e 3 s ann0~® 13% Fokker Alreraft. 5 Foltis Fischer Corp. 28 Ford MotorCan A... 6% Ford Mot of Fran 10% Ford Mot Ltd 37%e. 214 Fox Theat Cl A. 14% Franklin Mfg (2 20 Garlock Pkg (1. . 6% Gen'al Alloys (80¢). 2% General Baking . 35% Gen Baking pf (3) i) - D Gas&El cv pfi8) 894% Gen G&Ecv pf B (6) 6 Gen Laundry Mach. Petrol Corp wi. . 20 Gen W W&E A 98% Ga Power pf (6) 15% Glibert (AC) (1)..w 2).. 2 letter in odd 17 # 208 289% 28 THE EVENING STAR, WASHINGTON, D. C, WEDNESDAY, APRIL 2, 1930. Notice—All stocks are sold in one hundred-share lots (65s) (2888), lots § 4% Fk 8 108 a 647 47 2814 20 4% 6% 20s 297 297 T4% 56 24 14% 914 228 35t 268 28l¢ am 13% 4 25 114 20% 19 W 2/ 8 481 15 35 4% T 17% 6 244% 2:5« 24% 24% P % only Low. 0% 2% 1% 22 33 2:38. 51 g N 3444 335 108 209 108 201 47% B 8 10 334 19 B4 04 78% 70 28,1578 154 1 150 14% 6% 207 4% 56 2% 18% 9% 22% 333 1004 100 100% 268 2814 EL) 1 4 24% 11 28% 18 2374 24% T 46% 4% 134 4 TH 36% 26% 14% 44u 14% 47% 27U 27% 105 10% 10 10 3 11 13 5 135 4% T 36% 27 14% 444 14% a7 % 2% 1% 5% 284 53u | 28% R314 88 821 41% 3TH 82 R O 9% 289% 289% 6% 5% 6 17 17 % 1 ™ ™% 16% 15% 15% 15w 23 123 122 30% 30% 30 1228 30% 14 % T4% 8l 28l 28 28 2 102% 102% 102% 102% 1 15% 16% 16% 15% 260 14% 46 156% 30 14% 116% 50w 56 1% 5 154 103% 26 Stock and Bales— Dividend Rata, Add 00. Open. High. 64 6% 24 81% Graymur Corp...... 115% Gr A & P Tea pf (7). 220% GrA&PTnv(5) 124 Groe Stors Prod vte. 364 Guardn Fire Assn(3) 131% Guif Oflof Pa (1%). 18% Haseltine Corp (1).. Humble Ofl (2). 37% Hydro Elec Serv 10 Hygrade Food Prod. 22% Imp OfL. Can (50e)..s 5 37% Ind Pips L.n (12%). 1 45% Ind Terr Illu Oil (A). 66 52 Ind Terr Illu Oil (B) 180 17 Ind Finectfs (b10%). 14 60 Indus Finev pf (1)..176s 541 Insull Ut Inveb6%). 5 69 InsCoof NAm (3), 17 Insurance Sec (1.40) 20% Intercoast Trade (1) 4 intercoutinent Pet n 17% Internl Petrol n (1). 6% Internat Products. .. 3214 Intl Sunerpow «1 34% Internal Util A(3%) 6% Internatl Ut'B....., 104 I[nterstate Equities. . 40% Interest Eq ev pf (3) 12 Irving Air Ch (1.50). 5 Italian Superb war.. 9% Italian Superpow A.. 41% Jefferson B (13%).. 1% Kirby Petroleum 14% Klein (H)pt pf $1.20. % Kolster-Br (Am 8h). 35% Lackawanna Sec(4). 6% Lakey Fy & Mch (1). 1% Land Co of Florida. . 21% Lane Bryant. Inc(2). 147 Lefcourt Real 11.85.. 29 Lefcourt Real pf (3) 38% Lehigh Coa'&. “13». Leonard ON. " [P - O eTepR e HEMARDR A ANB R DS N 40 107% Long Isld Lt pf (7). 1108 110 3 LouvisianaLan& Ex. 9 4% 22 MfgsFinCovte... 9 37 Mapes Cons Mfg (3). 32% Marine Mid Cp (1.20) 45% Marshall Field & Co. 1 Mavis Bottling. 48 Mayflower Asso (32) 55% Mead Johnson(13%) 26% Mesta Ma Co (11.70). 8% Met & Min Ine (1.20) 3% Mid West Ut B war. 26% Mid Wst Utll (b8%). $7 Mid W Ut cv pf xwS. 27 Miller & Sons (2). 18% Mo Kan P L (b10%). 1% Montecatini deb rts. 37% Morison Elec (31)... 1% Mountain & Gulf 8¢) 8 Mount Prod (1.60) 6% Municipal Service 7% Nat Amer Co. 2=h Nat Aviation. 17% Natl Fam Strs (1.60) 22 Natl Fam S pf (2)... 3 NatFood P. B(b2%) 25% Nat Fuel Gas(1)... 12'% Nat Investors (new) 11% Nat Mfrs & Stores. . 100% Natl Pwr & Lt pf(6). 22% Nat Pub Sv A (1.60). e ” - MR IR e B L B D TN - ) 2 & 'w Eng Pow pf (§) 150s * w Eng Pwr (2)...100s 95 NewEng T& T (8).. 186% 105% Newmont Min (14) 34 10% 3% 10% 33% 114% 111 1% 13 8 ” 2 11% Niagara Hud P(40c) 628 3 Niag Hud Pw A war, 123 6% Niag Hud Pw B war. 31 22 82 Northam W cv pf(3) 5% North Am Aviation.. 2 No Am Aviat A war., 5% North Am Util Sec. . 6% North Cen Tex (60¢) 23% Novadel Agene (2).. Ohio B Tel em pf(7) % Ohto Co, T BRemwmen K Buanes smua 10% Outbd Mot A (1.80).. 3% Outbeard Motor (B). 49 Pac Coast Bis pf 3.0 264 Pac GEEl1stpf1%. 27% Pao Pub Serv (1.30).. 12% Paoc WesternOfl.... 1 Pandem Oil.... 614 Param'’t Cab (b8%), 36% Parke Davis (11.45) 1% Pantepec Ofl. M BrwlBunan i » = 6% Phillp Morris (A)... 9% Plerce Governr(1%) 10% Pilot Rad T A (1.20). 10 Pitney B P n (20c).. 13 Pitts Forging Co. 24 Plymouth Ol (2)... 9 Polymet Mfg ($1) .. 50 Powdrell&Alex 13%. 38 Power Securities pf. % Premier Gold (24e).. 20% Pressed Met of Am = PITEY [P ETEIe- Ao WS TP o 17% Pub Utll Hold war, 16 Radio Prod (50). 69 Rallway & Lt 8 (15). 8% RalnbowLumProd A 3% RainbowLumProd B & Red Warrfor.......: 2% Reiter-Foster (40¢).. 17 Reliable Strs (b5%). % Repett] Candy...... 71 Republic Steel n wi. 90% Rep Steel cum pf (6) 5% Reynolds Bros Inc. 22% Reynolds Met n 2.4 17% Richs. Inc (1.20) 264 Rike Kumbler (2. 34% Rochester Cent Pow. Lt&P(92¢) : 5 (OVOTOL - FOUSUTEPA P -9 » % Ross Stores. Ine. ... 52% Ruberold Co (4). 14% Russek’s 5th Av 2 19% St Rerxis Paver (1),. - ] " 134 274 120% Safety Car H & L(8) 1‘0; u: % 834'% 244% 17 “ 2 Salt Creek Con (40e), 10 Sait Creek Prod (3).. 274 Schiff (The) Co (2).. 6 Schletter & Zander 19 Schiet & Zan pf 3%.. 2% Schuite Un 681 8t. 714 Seaboard Utilitie 364 Seeman Bros (3 5% Seg Lock & H (60e) 10% Setberling Rubber. 7% Selected Industri 66 Nel ind allot efs 6. 2y Seltridge Prov S 270, 4% Sentry Safety Cont.. 12 Seton Leather (2). 714 Shattuck Den Min. 8% Shenandoah Corp. 33 Shenan Corp pf(ad) 18 Sllica Gelet....uuus 1374 Smith (A O) (3). 5 South Coast... 373 So Penn Ofl (1234) 247 So Cal Ed pfB(1%).. 22% So Cal Ed pf C(1%). Southland Roy (1) 7% 8 W Gas U], 444 Stand Ofl Neb(t314) Bl StOflof Ohto (2%). 62 Ntand Pow & Lt 1% Btuts Motor Gasesees 110 4% 28 40% Stock and Dividend Rate. Sullivan Machine(4) 1508 Sun Inv.. 4 Sun Inv pf (3). Sunray Ofl (40¢! Superheater (13%).. . 1 Swift & Co new (2).. Taggart Corp (1).... 16 ‘Tampa Electric (33). ‘Technicolor, Ine 38 9 2 Low. 48% 14 Tobacco Pr Exports. Todd Shipyard (4 Tonopah Mining. ... Transamer (31.60) Yran Con Atr Tran.. 7 Tr-Lux DLP8 (A). 1 Tri-Continental Co: 1 4 2 Thermotd Co (2) 13 . 1 1 62 Tri Utilie) Trl Utilith Trunz Pork 8 (1.60) . Tub Art Silk B (10). 14 letder F Corn Un Nat Gas, Can 1.60 2 Union Tobaeco Haa 8 3 2 9 2 1 00 1 Unit El Ser pur war. Utd Founders(b2.35) United Gas Co..... United Gas new United Gas war United Gas pf wi.. Utd Lt & Pwr A (1 Ute Lt & Pwr of (6). United Profit Shar. ., Unit Sh Mch (13% ). U 8 Dairy (A) (B)... U 8 Elec PWr wW. ... Bales— Add 00. Open. High. 50 50 Low. 3:85. 48% 48y 17% 46y 7 45% 1% 25 Divid Fini; Int U S Rad: U 8 Raa Warren Watson Wenden Asso T Ind Ter 111 Oil 1% Ludlum Steel....May 19 1% Stock and & In 8 otf (2%).. Unit Verde Ext (4).. Universal Ins (3%4). Utah Apex (60c). Utllity Pw & Lt Utility & Ind. Uil & Ind pf ( Utility Bquiti Vacuum O11 (14%). Van Camp Packing.. Venezuela Ptm(20¢). Westfleld Mfg...... Western Md pf (7).. Willlams R C (1.40). Wil-Low Cafeteria. . Woodley Petroleum. Zonite Prod (1.60)... RIGHTS. Bale iend Rate. Add 88 shing ($3).. 2 25 B4 Sesdpd3¥%. iator (2).... ator etfs(2) Bros... JW) Co.... Copper Expire. ell Util...Apr 15 -Apr 30 s 873 20 ™% % 17 % 6 1% 1% 1% 1% Dividena rates in dollars hased on iast quarterly or semi- annual payment. *Ex-dividend. tPartly eash or stock. h Pavable In stock. d Pavable in DIVERSITY IN WORK HELD MODERN NEED Use of Machinery Declared Operating Against “One- Job Man.” BY J. C. ROYLE. ‘The day of the one-job man is over. This is agreed to both by those who declare that the increased use of ma- chinery is throwing workers out of em- ployment and by those who assert that this move will necessarily readjust em- ployment on a better basis. The latter say that the increased use of machinery is throwing out of work those who know only one job, and that the modern trend is for each worker to become a specialist in a certain type of jobs so that he can readjust his activities within a certain range limit without discomfort or periods of unem- ployment. F. R. Merrick, president of the West- inghouse Electric & Manufacturing Company, declares that the increased use of machinery will set up a benevo- lent circle. He reasons that through the reduced cost of production by use of labor-saving machinery the manufacturer can afford to pay higher wages and at the same time sell his product at a price sufficiently low to stimulate additional demand. With ad- ditional demand comes an increase in mass production and a still further wage latitude and still further buying power. “The higher wages of the workers and the reduced costs of the products made by labor-saving machinery,” he said, “combine’ to increase the buying power of the largest group of our u- lation. The standard of living of this group and the whole community tencs to rise and the demand for goods of all kinds increases. This inevitably in- creases production, and with mass meth- ods of manufacture unit costs decrease.” On the' other hand, Charles H. Hatch of the industrial engineering firm of Miller, Franklin & Co., declares that the United States is build- ing up an army of permanently unem- ployed. “Even in highly prosperous times,” he says, “thousands of men and women are annually thrown eut of the only jobs they know as a result of the in- creasing use of labor-saving machines and methods. The only possible cure is to shorten working hours so that everyone will be given a certain amount of employment. “Nearly every day a better method 15 put into effect in some factory and a few more workers join the great reser- voir of permanently unemployed. When a slackening in general business activ- ity occurs, as at present, this reservoit is suddenly filled to overflowing and conditions become desperate. Conditions today would be worse if it were not for % | Stand O1l N o 481 97 4 % 34% 4 16% 18% 20% % the humane and far-sighted methods of some employers, who give part-time employment to their entire staff in- stead of laying off numbers entirely. “Most of our industries already are developed to & point where they can easily supply all our nceds and leave a balance over. There is serlous over- production in many basic industries. With overproduction it is obvious '.h:tl‘, to give full time employment to all would aggravate the serious condition now existing. It is coming to be real- wzed by thoughtful business Ileaders that the only solution is to reduce the number of hours each man will be employedcl and so give everyone some work to do.” Mr. Hatch agrees with Mr. Merrick that if machinery can make it possible for the worker to produce as much in three days as he now produces in six, the manufacturer can afford to give him as much in wages for three days as he now earns in six. (Copyright, 1930.) SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) - ofter. Allis-Chalmers S5 101% Amer. Tel. i) 1937. & Tel. 5s Bel ‘el. iteel Corp 5s 1931 &icrnia Beiro, Corp 8% s Ganadian_ Nor. Rwy. 4'4s 1935.. Chicago Rock Island 4s 1034, Chile cogur 58 1947, S e o 4108, 1630 981 Gen’Mot. Accep. Corp. 63 193%.. fips Pure Oll Corp $ias Bhell Union OIl Co 58 1947 Sinclair Crude Ol Co 5l4p 19 d Oll New Jersey 58 1 Standar e e St'LTron M- Wy {8t L Southw Rwy Co 4 1032... Swift & Co on 1952 1 Uhion ‘Ol Co of Calif'5s" 195, | Unicea Drus Co. b8 1936, .. Wit Bteel Gorp Blas 1048:. 104 el Corp Bigs 104, 102t Wheeling Steel Corp 4'3s 1953.. 81 NEW YORK BANK STOCKS NEW YORK, April 2 (#).—Over-the- counter market: America .. Bank of U\ & 0n Manhattan Co Bankers . Gentr | Chem| i Corn Exchanse County ... Eauitable """ Guaranty lrvlnll % Z anufactirers estchester “Tifie & Trist.: 19 ot B it mt SRR g 9.5 94.5 94.2 . 944 . 9.2 Three years ago, weekly aver.. 96.1 High (1930). o 94.5 Low (1930) . 91.9 BOARD PUSHES PLAN TO DECREASE WHEAT BY OWEN L. SCOTT. Special Dispatch to The Star. CHICAGO, April 2.—Two representa- tives of the Federal Farm _oard were in the Northwest today begimning the season’s super-selling job—that of talk- 000 acres of Spring wheat. ‘The Northwest growers have indicated that they intend to seed approximately 20,000,000 acres of Spring wheat. This is about 1,000,000 acres under the area planted two years ago, but the Farm Board, bothered by the surplus problem, would like them to cut their crop to about 18,000,000 acres. ‘While skepticism is quite general to- ward the question of success, the sales- men have some inducements to offer in return for the suggested sacrifice. They are prepared to finance the seed- ing of flax, barley, oats, rye, alfalfa or sweet clover. ‘Whether farmers will respond is to depend upon the persuasive abilities of John L. Coulter, lef economist of the Tariff Commission, and James R. How- ard, former president of the American Farm Bureau Federation and long a farm organizer. Mr. Coulter is a former president of the North Dakota Agricultural College. He knows the farmers and their psy- chology as well as their practical prob- lems. It was his idea that if farmers were vinced of the advantage of other ins and given a practical op- portunity to make a change in crops, they would respond. The two Farm Board emissaries are te lay much stress on flax. This product is bringing high prices, nearly $3 a bushel, but it is a crop that requires rich soil. Usually it is planted in new ground, but in the case of newly broken sections of the Northwest, where wheat was_intended, the substitution of flax would have a marked effect on acreage. (Copyright, 1030.) MONEY MARKET. NEW YORK, April 2 (#).—Call money remained at the renewal rate of 4 per cent today, the steadiness being in- | fluenced by the calling of loans. This | firm tendency was extended to the out- side market, where the 4 per cent rate ' also prevailed. ‘Time money was dull, with the shorter maturities slightly firmer. The quoted rates were 333 to 4 per cent for 30 anc 60 day notes; 4 per cent flat for 90 ys, and 4!4 per cent for the longer maturities. A fair demand for bankers' accepl- ances was reported. Asking rates were unchanged. REVENUE FREIGHT LOADINGS. By the Assoclated Press. Revenue freight in carloads, as re- ceived by class 1 American railroads for the latest week on which the American Railway Association has compiled sta- tistics and comparable pericds, is as follows: Week ended March 22.... 875,542 cars | Preceding week .... ... 881,187 cars Same week last year. . 962,400 cars TREASURY CERTIFICATES. (Reported by J. & W. Seligman & Co) Rate—Ma itd b rer. 47ss June 16, 10012-32 100 14-33 3tys Beptem 100 100 3-32 H 27-33 '9931-32 3 2733 993132 3 2731 9931.33 3 1001-32° 100 3-32 FOREIGN EXCHANGES, (Quotations furnished by W. B. Hibbs & Co.) Nominai gold Selling checks al ar). todsy London. pound . B Baris. frane | Berlin' mark Rome, lira . | Zurich, tranc Athens. drach \adrid, peseta Town Stockholm, crown INVESTMENT TRUSTS NEW YORK, April 2 (#).—Over-the- counter market: Bid. Asked. Am & Cont Corp... 25 28 re e ap Com Investment Co of Am com. . Nassau Manage Cory Natl Bond_& Sh, Oversens Secur Petroleum Trad A. Trustee Stand Oil Shares U 8 Elec Lt & Pow Shares gl rat s Stone & Webster, Inc.. earned $2.25 on mnn;.\!lltn“e.k in six months to December 31, , excluding profit on sale of securities. Industrials. 50 (Copyright, 1930. Mandard Statistics Co.) ing farmers out of plans to plant 2,000,- | | receipts. 3,000 extra. tPlus extra in stock. a Payable tn oreferred stock- STOCK AND BOND AVERAGES By the Associated Press From Yesterday's 5:30 Edition. Utilities. 20 99.2 99.3 99.6 97.2 1012 98.5 99.7 104.5 98.8 GRAIN MARKET. CHICAGO, April 2 (Special).—The wheat market was higher again today, influenced by the strength in Liver- pool and continued dry weather in Kansas. Resting orders to sell were uncovered at 1.11 for July. May open- | ed 1.11% to 1.113; July, 1.10% to 1.11; | September, 1.13 to 113%. After the | first half hour, May, 1.11%; July, 1.10%; September, 1.12%. Corn was firm with wheat. opened 853 78 'y i September. 8oy o' S1%3, " Al the | first_half ‘hour, May, 86; July, 87%; September, 88%. Oats were higher. May opened 443% to 447; July, 44% to 4435: September, 43%. After the first half hour, May, 44%; July, 44%; September, 43%. Provisions were higher with hogs. NEW YORK COTTON NEW YORK, April 2 (Special).— | With most houses ldvi.sln[p: shert view of the market, cotton prices opened unchanged to 8 points lower today. Ring sentiment was that the advance of prices so far will offset anything the Farm Board may have :goompu:hege pfimd reducing the reage to nted. The trade was pening prices were: May, 16.40, of 7; July, 16.48, off 8; Ocmbel!, old, ldvog off 4; October, new, 15.77, off 4; De- cember. old, 16.16; off 2; Dece: new, 15.90, off 2; January, old, May mber, 16.25, ‘:,Agc?mged. and January, new, 15.57, CHICAGO LIVE STOCK~MABET i CHICAGO, April 2 () (United States Department of Agriculture) —Hogs— Receipts, 13,000 head, including 3,000 direct; steady to 15c higher: weighty butchers showing the advance; top, 10.40; bulk, 150-240 pounds, 10.00210.35; 240-340 pounds, 9.50a10.00; butchers, medium to choice 250-300 pounds, 9.40a 10.00; 200-250 pounds, 9.60a10.40; 160- | 200 pounds, 9.60a10.40; 130-160 pounds. 9.40a10.35; packing sows, 8.40a9.25: pigs, n:Jegéum to choice, 90-130 pounds, 9.00a | Cnme—mce:‘pts 6,500 head; calves, ead; weight; | higher; others steady m'i.lkf‘ifi?géifi-’ mostly steady: heavy steers -ery scaroe: top. 14.65; slaughter classes, steers. | good and’ cholce, (4300-1,500 pounds, | .00 1, .300 2 15.00; 950-1.100 ounder. 13 0a s g goflrg:x}gnfi oand! medium, X .50 fed yearlings, cholce, 750-950 pounds, 1500818 00" Heifers, good and choice, 850 pounds down, 11.00a13.50; common and medi- a11.0C; cows, good and choice, 7.75a10.00; common and medium, 6.25a | 1.75; low cutter and cutter, 5.00a6.50; bulls, good and choice (beef) 8.00a9.25: cutter to medium, 7.00a8.25: vealers (milk fed) good and choice, 9.00a13.50; medium. 7.0029.00; cull and common, 7.008.00; stocker’ and feeder steers, | good and choice, all weights, 10.25a | 11.75; common and medium, 8.35a10.25, Sheep—Receipts, 16,000 head: slow | around steady: indications, balk fat | lambs, 9.0029.35: early top, 9.75 for | choice 92 pounds; choice shorn lambs held around 9.25:'best ewes held above 6.50: feeding and shearing lambs weak at 8.10a8.35; lambs, good and choice, 92 pounds down, 8.75a10.00: medium. 8.25a9.00; common, 7.75a8.25; medium to choice, 92-100" pounds, 8.00a9 50; ewes, medium to choice, 150 pounds down, 5.2586.65; cull and common, 2.75a 5.50; feed 85050 s ler lambs, good and choice, 12.00a15.00; 850 pounds up, L S— DIVIDENDS DECLARED NEW YORK, April 2 (). — Rexular. Company. Brown Shoe pf.. Chapman Valve ‘At Eauit Financial A nndlev-Patee 1 Pf A Rets),” Hunt Bros Peke’ A | Ind_collatl Assn Komp PFilm Labs s Pt (Am Rets)..2%% it Initial. Comml Discount L A 8% !%ne!' e 4 g o 3 Omitted. “ontoocook M bf.51.75 Q BALTIMORE SHIPPING REPORT BALTIMORE April 2 (Special).— During Marcb there were 271 arrivals at the port of Baltimore. arcording to the Maritime Exchange, an increase of Avor. Apr. 1 June 14 Due Apr. 1. ##e A—IS INCREASE IN STEEL PRODUCTION NOTED Iron Age Review Finds Im- provement in Trade During Week. By the Associated Press. NEW YORK, April 2.—Pig iron pro- duction in March in contrast with the decline in steel ingot output increased 3,060 tons a day, or 3 per cent, accord- ing to preliminary estimates in the cur- rént issue of Iron Age. Total production for the month was 3,237,950 tons, and the daily average was 104450 tons, compared with 2838920 tons and 101,390 tons, respectively, in February. The dally rate is the highest since last November and compares with 119,822 tons for March a year ago. In its weekly review of the iron and steel industry, Iron Age states that eight blast furnaces were lighted in March and four were put out, a net gain of four. This increase in active capacity, it said, “is in keeping with the current upward trend in sf works output. The steel ingot output of Steel Corporation subsidiaries has risen to 83 per cent, and the average for the country at large has advanced to 78 per cent, compared with 76 per cent a week ago. “Expanding demand for line pipe from the larger oil and gas companies, large structural steel inquiries, a more cheerful outlook in the automobile in- dustry and a further moderate gain in steel specifications from miscellaneous sources have raised the hopes of the mills,” the review continues. “But no sharp rebound in activity is looked for; on the contrary, some producers, doubtless influenced in their views by the hand-to-mouth character of buying and the persistence of price unsettle- ment, believe that the industry will do well to hold its recent gains. “Throughout the Winter months the heavier rolled products formed the baok- bone of mill schedules and it is open to. question whether they will continue to '{fil mch‘-cuve dem':mt n;u mills run at a good rate through- out the first and railroad car builders are assured active operations until midyear, but miscellaneous steel 'b‘ook from the railroads have per “Only a recovery of automobile manu- facture is necessary to bring sheet out- put within striking distance of ca- pacity. Larger melt by automotive foundries and somewhat more liberal releases of sheets, strips and bars by motor car makers tend to support the view that April automobile uc- tion will show a moderate over March. Output last month was below that of either January or February and was only 45 per cent of the total of March, 1929.” CHICAGO DAIRY MARKET. CHICAGO, April 2 (#) settled; receipts, 6,696 tubs; extras, 37; standards, 3' B seconds, 3la recel.r cases; 2415a25; graded firsts, 2315a24; ordinary firsts, 2215a23; storage packed firsts, 26%; storage packed extras, 26%. Wm. Gordol'l Buchanan Councilor & Buchanan Certified Publle Accountants National 6110-6111-6213 (Telephone Directohy Omtaston) Money to Loan on Property in the District of Columbia First Trusts Only Immediate Attention Wm H. Saunders Co. Inc 1435 K St. N.W. Dist. 1018 “Will Market History Repeat?” This outstanding article by Frederick Hanssen in the April 2nd Financial W orld will help many investors to clarify their views on the present bewildering mar- .. ket situation. Don’t miss this important article nor the anal- ysis of AN UNDERVALUED CHAIN STORE STOCK Before you forget it, return this “ad” with your address to obtain our April 2nd issue and also “Sound Investment Rules”— both free. FINANCIALWORLD America’s Investment Weekly Louis Guenther, Publisher Established 1902 53-Fm Park PI N 1 6%:% - FIRST MORTGAGES —Secured on improved Washing- ton Real Estate and backed by our §3800,000 resources. York Employ your surplus funds to earn 6%%_ with unquestioned safety in Guaranty First Mort- gage Bonds. In denominatiohs as low as $250 Stop in, or_Send for Booklet “The Success Plan* May be Purchased on Monthly Payments REALESTATE MORTGAGE & GUARANTY CORPORATION 11 over February and three less than in March, 1920. The United States led with 181 | ships, Great Britain being second with 39. Arrivals for January, Fel and March totaled 797, as k[ for the same months in 1929. Capital Resources over $3.800,000 24 JACKSON PLACE