Evening Star Newspaper, April 10, 1930, Page 15

FINANCIAL. CURB SHARES RISE INACTIVE TRADING! . Tape Swamped as Blg Blocks of Leaders Are Sold on Upswing. BY JOHN A, CRONE. Special Dispatch to The Star. NEW YORK, April 10.—A broad lat of securities rose to record high prices for 1930 in today’s Curb Market, which in point of volume was the largest thus far this year. Despite the frequent lppelnnce of big blocks of shares. the tape was running 30 minutes late around midday. Public utmtm were the early leaders of the upswln{ but as trading pro- gressed the list of securtiles meel brisk bids continually broadened ouf uu,nm u}: included nearly all sections of e Electric Bond & Share, American Superpower and American Porll(n Power made gains. Citles Service am ht change, which also was the case wl 'h Standard Oil of Indiana. Among the utilities pushing ‘into new 82: 2! h Bragilian Light & more, Hydro-Electric Securities, & Power A, and General Gas ils again moved forward, issues uke cosden Ofl, Gulf Oil of Pennsyl- vania_and the jow-priced Mexico-Ohio Ofl, showing the greatest early fluctua- tions The last named was off about 3 points following a rise of that amount in the previous session based on uncon- firmed reports of the bringing in of a big well in Mexico. Ohio Oil, parent of Mexico-Ohio, was a trifie higl Although Natural Gas stocks were not as prominent as in recent sessions, they took hea tions maker of couplings and other natural gas accessories, moved into new high ground as A. O. Smith Corporation in- clined to heaviness. Ford Motor of Canade A rushed to the highest level of the year as a result of publication of Ford Motor Co. 1929 profits and increased sales. Cord Cor- poration improved after it :munccd that its March shipments were 66 pe: cent greater than those in February md 10 per cent ahead of March, 1929. Amusement shares displayed mixed price trends. Fox Theaters A absorbed much profit-taking early in the session and maintained its quotations. Colum- bia Pictures moved higher after the announcement that it plans to inaugu- rate $1.50 cash and 5 per cent annual stock dividends on the common. The rise in the break-u investment companies was mirrored in the advance of Buch securities. - Marine Midland Corporation, American Invest- ors B and Prince and Whitley common were '.h-h nm‘ in this group to reach new higl ices. Airplane mcn moved to within fractions of their previous peaks in early trading, but were not quite as in preceding sessions. Aero- Deuitical Indudtries, ai ar ndustry in- % 353 276 5 T6% f.he miscellaneous oils showed nnly a| 1668 vestment company, climbed to & new top. NEW YORK COTTON NEW YORK, April 10 ( ) — Cotton prices spurted Upw 2t 7 points at the opening today except in May contracts, which held unchanged at 16.36 after their recent decline under heavy liquidation. Bullish operations were stimulated by the report of the Association of Cotton Textile Mer- chants showing sales in March of standard cotton cloths were 111.8 per cent,_of production and an increase in unfilled orders of 7.4 per cent. Opening prices were: M‘y. 16.36, un- ctnnzed. July 16.40, up 2; October, old, 15.73, up 7 Ocmbcr new, 15.44, up 4; December, old, 16.85, up 5; December, new, 15.56, up 4; January, old, 15.89, up 3; January, , 15.62, up 4; March, 15.82, up 2. g EMPLOYES INSURED. Group life insurance has been ar-: ranged for the entire pemnnel of the Western Air Express Los Angeles, includinl ‘rneu m prouf.uon totals about 000, SRS 2B slbuuBE e = FESF E NSRS Szesesagzes OO 8ERRRES g H o L . T s 355553 2i8Eanannsiznanngasza a55es5E S35 eeesaegegne N R F 233t 3Easgnant: 2, €. 3y 5 aE S 22! A Eg.fl_fig 3¢ 3 202, o T 22843, ¥ FESFE 3 oA o e opAI A RS BERECL at A, meSsseriisurastest: g FLa = sSes2sEtananiiad 3273g3e3ieusnSBest: Gk L 5 s . e #fs..#“' P Balah-BuSmmttionBoomion Bl an =% j<a i & & ¥ FiEE Stock and Dividend Rate. 1% Aeronautio Ind war. 8 19 :Qro Supply Mfg B). gfa Anaco. 81% Alnsworth Mfg $3%. 11% Alr InvInoov pr.... 3% Alr Investors vte. Allled Int Inv pt 10% Allied Mille (800). 108 5 Aluminum Co of Am Aluminum Co, Ltd. . Am Beverage Curp. . Am C P&L B (b10%) 20% Am Colortype (3.40). 23W Am Cwith P A b10% 34% Am Cwith PBb10% 184 10 60% Am For Power war.. 113% Am Gas & Blec (31). Am nvest Ine B.... 4% Am Investors (war) 25 Am Lt & Tract (10). 90Us 72 Am Light& Tractn. ;11 uu Am Superpower Super 1st pf (6) l‘l!t Am Superpow pf (6) 17 Am Transfor u.ms‘ 10% Am U&Gen B 3% Am Yvette ( 17 Amrad Corporation. 24% Amster Trad (1%) 16% Anglo Chil Nit 2% Anglo-Nor Hold, 25¢c. 3615 Asso GEE. A (13.40). ll“ Asso Gas & Eleg, n. . As80 GAE A deb rts. 89% Anolhy on pf (6).. 27% Asso Tel Utll (b7%). % Atlant Fruit & Sug. 15% Atlantic See Corp. ... 22l Atlas Plywood (3).. i Auto Musle (A) (1) 4% Auto Voting Mach. . 9% Auto Vot Ma cv pr pt 24% Aviation Corp of Am 124 Aviation Credit..... 21% Bahia Corp. 46 Bancomit ne 6% Bellanca Alreraft. .. 31% Blaw-Knox Co (1%) 23% Bliss Co (E W) (1).. 6% Blue Ridge Corp. . 33% Blue Rldl! eV vl (a3 36% Brasti Tr& Lt (3).. 2% Bridgept Mach (25¢) 4% Bwana M Kubwa, Cable Radio T vte... 2% Cab&Wire LtdA rcts 1% Cab&Wire LtdB rets 4% C&W pfreis(27%c). 10 Can Ind AlcoA(1.52). 26% Carnation Co (31%). 40% Carrier Eng n-vA(1) la 22% Cl:u.n Natl Asso n-v. 534 Cl 264 Cities ml; (3300) 8% Cit Serv pf B (! Clev El 1llum (1.60. 5% Colon Ofl... 26% Colts Pat Fire A (3). 17% Colum Oi1&Gaso w.1. 24 " Columbla Pictures. . Columbia Syndicate. ”B": 234 Com'with Edison (8)210s 6% 3% Comwith & Sou war. 12% Com Wat Ser (D6%) 16 % Comstock Tunnel.... 1 % 5 18% 90% 2% 3 10 - AW 12% 5 11% 12% 1% 50 39% 5% & 18% 26 Consol Auto Merch. . Consolidated Copper Cons Dairy Prod (3) Con Gas, Balto(3. Con Gas Ut AtS. Cons Instrument Cons Laundries Con Nevada-Utah. Consol Royal (60¢) Continental Oil...... Copeland Prod I’u A Crowley Milner Crown Cent Petrol. Cuban Cane pr opt w. Curtiss Alrports vte. Curtiss Wright war. Darby Pet (1). Dll Gll & U!lllll‘l- . Doehler Die Casting. Douglas Alr (750). .. Dow Chemical (3)... gtfl-(l)ll“ll Al%. Bisler Blectrie (1%) ] Bond & 8b (b6)... E1 Bond & 8h ot (6). Elec HouseUtil (2).. Elea Fow Ass0 (1).. EIP& Lopt war.... Bleg Sharehldg (31). [l Sharehold pf (). EBS, IncAn-v(3). & Ohilo (new).. * 5 20 24 86 33 It} - ° 10T 1O 1 S 100 01 0 =10 320 1 903 89 00 00 1 0 b NS S OV 55 18 34 178 18 - ke ok BrponhiverbeSiinevaanive - THE EVENING ST. 36% Seeman Bros (3) Send Rase. *Rog w0 lfli GOIMIIVIWBM) ll Gen Indus Aleol Groo Sters Pred vte. Guardn Fire Asen(3) Guenther Law (2)... Gulf Ofl of Imp ON. Can (8 Imp Tob, Can lne). . Ind Terr Ilu Ol (A) Ind Terr Iilu Of) (B) Ind Fin otfs (b {nt] HolagaTav 10.. Inter Petn (63%0 .. Internat Produets. .. Intl nnmrwv. 1), Interstate Interest Eq Italtan Superpow A.. Jonas & Naumburg. . Kirby Petroleum Klein (H)pt pf 3 Kolster-Br (Am Lackawanna Sec| blk. Superior Co: Fouudrr. Bry: . bo!mrl RI‘I of (3) L-hlzgdcuIAN-v(l) @ ORS00 B 0 Liberty Dairy Prod.. Lll, T CIID (150) O] Refin (! Louisians Lan & Ex. MacMarr Stores (1). Magdalena Syndicat. Mangel Strs pt (6%) 80 MfgsFinCov.te... Sruatan 2 &% o Mayflower Asso «w Memph Nat G 8(1. Mer & M?8 A (1.60). sabj Iron.... Pors Ses e B NAOE RO RNARR N0 Mid Royalty cv pf 3, Mid 8tl Prod, n (2).. 0%). l(ah H P m. n m.. Monroe Chem (1 u Morison Eleo (31) Mountain & Guls & Mount Prod (1.60). Municipal Service, Nat Amer Co. Nat Fuel Gas (l)- .o Nat Investors (new) Nat Pub Sv A (1.60), Nat Rub Mach (3).. Nat Screen Serv (3). Nat Steel Corp xw (3 rmaanbEZasSaaen g Sowd New Eng Pow New ,.h' T - & Niag Hud Pw B war, Niag Shares Md(40¢) Niles-Bement-P 13% 3 ). Mfi Noranda Mines (3).. No Am Aviat A war, BK .Norlh Am Uti] Sec. . 'th Cen Tex (60¢) A - Pac G&EI 1st pf lu . Pao Pub Serv (1.30 Pao Westers Ofl. . Pandem Oil. Param't Cab (b8 Parke Davis (t1. Penn Mex Fuel (3).. Pennroad carp. ceses Peop Drug a). Pepperell lul Oa (moo- Petrol Corp (1 —SonRS Powcr Corp, Can (1) Pratt&Lambert (1) % Premier Gold (3¢e). ..:.::...-..:..E...:-. Pyrane Mfx (80a). Railroad Shar Ry & Util Inv - - =T R TR T T Look & H (8 TR Y F5%3Edr i 2Est e s® i SRR @ CanSunnarans snbrRonasanToRE nmanSnan 00. Open. 98 9% - -qu e B 1 _ WASHINGTON, D. Wigh. Low. 3:88, 0% 94% 9T AT E T R ML S 833 8% | than ' 80,000,000,000. & storage packed firsts, ~Prev mo.-. um ‘l‘ nger Mfg Lll(lll) C, THURSDAY, APRIL 10, 1930. % 81 % u’m Smith (A O) u)....Ml il‘lu 8!1* 1 nish & Gen 28 704 Stand Inves pf(5%). 24 % Standard Motors. 18 9% :llnl ol ll‘ ll % Stand Of . ll Oll tf Olh fl\‘l lMll Pub Ser Co A. .~ ° - Fondar anneBear = 88 Superheater (13%).. 80% Swift & Co new (3).. 81 Switt Intern')(3%).. 7% Syrae Wash M B (1) Taggart Corp (1)... 8% Texon Ol & l-lnl 18% Thermoid Co, 108% Tlml Det Axle D!(" “ ‘Tobacco Pr Exports uu. ‘l‘nl-mu IILCO lll Tr-Luz D L P8 (A) 4 Tri-Cont Corp war, ., 40 Tri Utilities (11, . 5'.6 Triplex Safety Glass Tubsise Chatillon... 20 Tung-8ol Lamp (3). 33% Tung-Sol La'p of (3) l'l'( Ulen&Co...... Uugerlelder ¥ Corp. Union Tobacco . United Am Utilities. Utd Carr Fastnr 1.20 Uni Chem pt p! United Corp w: o a8 Zal TS L TR IPNEY-TY 15% aaannl flddcgcflflflflflflc ity & ind. Otility Equities. Vacuum Ofl (144 ). . Venesuela Ptm(30e) Viek Financial Corp. Waitt&Bond,B(1.20) Co. Yukon Gold. . Zonite Prod ( RIGHTS 7 Ind Ter 111 Of1 14 Ludlum Stesl 19 3 1% 1% 1% 1% Dividend rates in dollars nl a on last quarterly or semi- annusl payment. - *Ex-dividend _1{Partly extra. 1Plus extra in stoc) Payabls 26% In cash or stock. b PATABle 15 S0ck. d Bayable In Dretorred sobk. FINANCIA Sennnon & o A T e T e Bxpire .Aprlv 16 TH % TH T - PUBLIC UTILIHES INMARKET FAVOR ém_-;' ; e Group Has Enjoyed Spotlight |3 of Investment in Re- cent Operations. BY PRESTON 8. KRECKER. larity of public utility issues has been one of the significant characteristics of the stock markets for some time. They seem to have supplanted the place once held by railroad stocks in public interest. ‘The shift of investment is indicated, not only by the increased volume of dealings in utilities and the altitudes to which prices have been bid up, but l.\u by statistics of investment com- portfolios. Reports of such com= p‘nu reveal & ml.&.;d preference for stocks of and power, gas and es. of investments of 49 tfll"‘. with capital resources w - one and a half billion a. ahows that 31.8¢ cent of all com- mon stocks held them were utm- ties and only 11.31 per cent were rails, while balance of $8.85 per cent was divided among bank and murnnce stocks and miscellaneous ust Favorable Features. That demonstrates the popularity of public utility stocks is more mn investment fad. It is based l b of favorable drcum- int to the utilities as ties, One of the mm important of those circumstances Lhn Emwcuon from confiscatory rl'.u court decisions hnvt extended l’n @ huc urvlu evm The ority rendemd 'Itmn the grrw: to which utility lmlll“'on far from their present-day vogue. Pul utility companies for yem were regarded as legitimate victims of poll- ticians who curried popular favor forcing unfair rates upon them. Unif States a\mmu Court decisions have changed that. The outcome has been that rates hich assure a of pmflu for utllity companies. But it happens that the use of power ding consistently year by year. crease in output of electric power American companies was 100 per cent from 1922 to 1929, or from 40,000,000,000 kilowatt hours to more Revenue from sales of euctrlc service had com- mensurate jumping from 81,4 070439000 tn 1322 to $2,106,000,000 in 1929, the latter figure being partly % | estimated. In 1912 revenue from sales of electric service aggregated but $286,981,000. The enormous increase since pre-war days has been due partly to natural zwwt.h of industries but more so to pru rtionate use of electric industry than formerly. Mergers of utilities have been a factor in their popularity. The speculative lure of l'ockl: of eumg anies which are lY n “vmaoo NEW YORK BANK STOCKS NEW YORK, April 10 (#).—Over the counter market: BANK| g 2 lfi? 1%, 15 it 8475 1875 1521 | Vet sgem T R ERchAnEe - S2ad: SRS a2G! 8533 lew York Westehester Titie & Trust NEW SECURITIES NEW YORK, April 10 (P —New security offerings today include: Republic Steel Corporation, $60,000,- 000 6 per cent cumulative convertible preferred stock, priced at 95 a share and accrued interest, to yleld more than 6.30 per cent. Offered by a banking group headed by Otis & Co. Government of the Argentine Nation, $50,000,000 six-month B per cent treas- ury g:;d nnws dated A pfll 1 and due Octol 1, 1930, priced at 100 and ac- crued interest, to vield 5 per cent. Of- fered by & synd u huded by the tham Phenlx Chl Oorpornlnn. $10,- T emt ncurzd gold bonds, 1, 1930, and due April 3 ced af 92 and accrued interest, L. proach! matur; - | ease lnm‘t.he m oflnry ‘Power Co., Ltd., $8,000,000 r cent first morigage gold bonds, u d April 1 and due Aprn 1, 1m. priced at 94 and accrued interest, to yield about 5.40 per cent. Oflered by the Royal Securities Corporatio; City of Dublin, Ireland, ‘1000000 § per cent bonds, ‘maturing July 1, 1010 but redeemable in whole or in part par on or after July l. 1850, priced n ‘“&, Offered by Guinness, Mahon Delaware County, Pa., $1,000,000 4% per cent bonds, maturing April 1, 1931, to 1960, inclusive, priced to yield 4.05 per cent. Offered by M. M. Free- man & Co. City of Oklahoma City, Okla., tl 000 - 000 6 cent street I.mpme i u m due 1, 1940, yield 6 per cent. C. Heller & Co. CHICAGO LIVE STOCK MARKET smCAOO. Aprtll ‘!0 (P l(Ul\l)hd Dmfl.mm of culture) .— 22, head, lndllfifl 5,000 di- rect; mostly 10-15¢ lower on hogs scal- ing under 230 pounds; heavier weights, 5-10c lower; fairly active to shippers and small packers: top, 10.50 plm for 180-210-pound weights; butchers, me- dium to choice, 250-300 Wlndl. 9.75a 10.30; 200-250 pounds, 9.90810.50; 160- 200 wund;. 9.90a10.50; 1!0 160 pounds, 9.40a10. ‘B packing 9.0089.75; gsum Bl,nm to clwiue. 90-130 pounds. Cattle, 7,000 h.ild‘ calves, 3,000 head; few loads weigh! strict- ly good and mnd to shippers; , 15.10; all others slow, welk. under- wne lower on she stock and vealers: slaughter classes, e TS o 1,100 pounds, 12.00814.76; common and medhum, 250 RO B M and choice, pounds, 12.00a14.75; heifers, good and choice, 850 pounds down, 11.00a13.50; common and medium, 8.00a11.00; cows, good and chol 8.00a10.00; common .00; low cutter and cholce cull common, 6. and lemr lh.rl. good and choice, all its, 1 50; common and me- today. Three 80 francs 90 mumes:pes per_cent loan, 102 francs 50 centimes; exchange on London, 124 francs 2312 her | centimes. The dpllu was quoted at 25 1 ‘The net earnings of poe.‘) other public utility companies for the same moreover, were 18.56 per cent CHICAGO DAIRY MARKET. OHICAGO, 10 (#P).—Butter— and s' n«ip , 7,688 mhl extra 35 fl!m. seconds, 31a33. i Xm %‘fh“'.'.'asfi'.“&'&n”fi okt 2615826%; stor- age packed extras, 27837%. SIMMONS IN MILAN. MILAN, April 10 (Special) —E. H. H. Stmmons, president of the New York Stock Exchange, who is now touring guest of honor at a ven here Wednesday night o gmm Stock Exchange and w!thmu.r'fic francs 57'2 centimes. SILVER QUOTATIONS. NEW YORK, April 10 (#—Bar|{ silver, 42%. AND BOND AVERAGES By the Associated Press. MFADDEN FIGHTS BOND SALE PLANS Marketing of German War|| Reparations_in U. S. Op- posed by Lawmaker. By the Assoclated Press. A single-handed campaign ‘o ham- per the marketing in the United States of German war reparations obligations has been undertaken by Chairman Mc- Padden of the House currency com- mittee, and is being prosecuted vigor- ously in every avenue which he finds. open, to the patent annoyance of a number of international banking ho:ses. Tt may be remembered that in agree- ing to the Young plan to settle the war liability account, Germany and the powers allied against her in the late war, undertook to emit & total of com- mercial bonds running to $800,000,000 or $1,000,000,000, to make them a first lien among the war obligations, and to t them all over the world, a very | | aslgsmunm;h to come to the'mmud largely to France and Belgium. P‘h:z for the big sale—the largest ever con- templated in times—are r and present it markets facilitates their consumma “I am not num that these securi- ties incorporate u?.l -nd wce ted obnnunn of aermny n said in discussing his :lu}eulln &zu:mlm Stat ning e new n:umaumul Bank in their issue ought not to meet with favor here, and American investors a lon on - keu would entail. i t is true fiut Lhc tentative scheme | (or thelr issu templates only the original n.ll o! lbo’llfi ‘120000000 u( the securities America. Mr. McFadden’s appeal to the State Department has not yet been answered, but will probably, vlun given mlly dis- close the degree to which the admin- istration shares his opposition—if at all. In recent years the Shu Depart- ment has been fi: American bankers to nncuon or wlth- hold sanction to American credits ex- tended abroad, and has a good measure of control over such enterprise. As to the contemplated repnmnm bme. the McFadden attack is the first that has been made, but, hecl of its makers’ official status, it will undoubtedly be given serious consideration. POTATO MARKET. CHICAGO, April 10 (United States Dopan.menl o Agriculture) —Pota- toes recel cars; on track, 340 cars; to'fl Unlud States thl I\!‘, 002 cars; trading fair; marke; Wisconsin med round 'hlul 215[ 2.85; few fancy, shade higher: Minne- sota sacked round whites, 2.70a2.75; Idaho sacked russets, 3.75a3.85; Texas sacked Triumphs, mostly 4.25. el INVESTMENT TRUSTS NEW YORK, April 10 (#).—Over-the- counter market: !u Asked. Charted Invest Figed Trust shm Do " uities .01 Incorp Investors . Mass Investors Mohlv'k lllv!lt com. Am Trust Shares. !ec nd Inc Equities P o B Elec % Pa' B. Sleo U Sihers Wnchanged A—15 Rvemcan Teiepuone o Teesuarn Covpaey 162nd Dividend Tue usuhr qullterly dividend of Two Dollars nd Twellty Five Cents share will be paid onAprll 15.1 38 stockholders record at t of business on March 14, 1930. H. BLAIR-SMITH, Treasurer. Did you ever lnv. tire trouble when you were in_ a hurry? | AVOID TROUBLE BEN HUNDLEY, TIRES 3436 14th NW. Adams 8100 7 First Mortgage Loan’ Applications Invited at 5)5% Construction Loans Glover & Flather: 1508 H St. N.W. National 1753 Applications Invited at Current Rates of In(ere!t on improved property in the Dis- trict of Columbis and nesrby Maryland. Prompt Service —Minimum Charges | 'SHANNON - i 1435 K St. Nat. 2345 Prom Yesterday's 5:30 Bdition. T E:?!;:? L& D ALEX. BROWN «* SONS £ Underwriters « Distributors INVESTMENT SECURITIES Wasnincron Orrica 737 15th Street N. W, Telephone. National 1053 Mare Orrics - Barrimons Guaranteeing The Trade Mark Satisfaction 44°Years of Constant Progress STOCKETTALK No. 8 Thi OUR STORY and we're going to stick to it. . Some people are station- ers—good stationers. Some sell office furniture - —dependable furniture. . J Some do printing — fine printing. Some make blank books —quality blank books. Some make special ruled accounting forms— high-class, intricate work. - l-!-—we are the only concern . in Washington with all of theu departments under ¢ one_ roof — doing iall the’ work ourselves—giv g you a complete economi- cal Office Equipment, Service that has no com- petition.. Iz STOCI(E}'T