Evening Star Newspaper, April 11, 1930, Page 14

2iA—I4 B IMPROVED BANKING 2 SITUATOIN'IS SEEN .Activity and Strength - Stocks Are Aided by Better Credit. BY JOHN F. SINCLAIR. “@pecial Dispatch to The Star. NEW YORK, April 11.—Another 000,000-share day on the New York fock Exchange! Some 2,600,000 shares changed hands yesterday in the first “two hours—a record for 1930. soPublic utility stocks were in great demand, led by International Telephone, Westinghouse, General Electric and -Public Service of New Jersey. --~The latest banking statement, giving the positions of the reporting member banks, is favorable. While commercial loans are back to where they were two years ago, they are $398,000,000 lower than they were this time last year. At the same time the statement showed that member banks had on de- posit with the Reserve banks last week $1,939,000,000, and had borrowed only $82,000,000 from the Federal Reserve. ..Brokers' loans are nearly $3,000,000,000 in|” FINANCIAL. THE EVENING STAR, WASHINGTON., D. C, NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. (Continued From Page 13.) 5 Stock and Bales— High. Low. 85 MoGraw-Hill (3). 4% Mclntyre Pore M(1). 61 McKeespt T P(143%) Madison 89 G (1%). Magma Copper (5).. Mallinson & Co. Man Elec Supply.... Man Elev mod (d6). Man Shirt (2)....... Marlin-Rock (t4%). Marmon Motor «3).. Mathieson Alkili (3) May Dept Strs (n3). Maytag Co (13). Maytag Co pf (3. Miami Copper (4)... Michigan Steel (33§) Mid-Cont Pet (2).... Middle States Oil et. Midland Steel (3). ... Midland Steel pf (8). 4 Minn Moline Pwr. .. Minn Moline pr 6%.. Minn & St Louts. ... Mo Kan & Texas.... 1 Mo Kan & Tex pf(7). Missouri Pacific. . less than they were on October 4 last, and $1,250,000,000 below what they were ® year ago. Yes, the banking situation 4% becoming the most favorable factor i business recovery. _ Perhaps this explains one reason why the stock market is so active. -~ Julius H. Barnes, head of the Na- tional Business Survey Conference, thinks unemployment can be made much less severe by a more orderly set- up in industry. “Technological unemployment is in- herent in a fluid economic lnfl social structure,” says Mr. Barnes. “Unem- ployment which results incidentally from the substitution of science and in- yention, by which the productivity of every single pair of hands is greatly in- ‘pased, is not of itself a social evil. “However, it may contribute to the process of aggregate national progress and aid to the aggregate national wealth, but such technological displace- foent bears great distress for the afflicted individual. Here lies the challenge and Stimulus to modern industrial leader- .h’l“’rue—-huc what is to be done about it? iss Frances Perkins, chairman of 'Q'Hyslat! Industrial Board of New York, author of many books on labor and in- ‘dustrial problems, has been more re- .sponsible for directing the attention of 'tgg country to the serious unemploy- ..ment crisis l(,l'mnA pro}:lbly any other o cial in America. w\:}fi:fl?’%‘edernl officials were discount- ing the growing unemployment figures +she persistently published the facts. -.nA graduate of Mount Holyoke, Miss Perkins took post-graduate work both _at Pennsylvania and Columbia Universi- ties, specializing in labor problems. She hecame a lecturer in sociology at Adelphi ~Gollege in 1911, but a year later she pecame director of investigations for “#he New York State Factory Commis- n. ,:‘%n 1919 she was appointed a member of the New York State Industrial Com- mission and four years later a member _of *h~ State Industrial Board. < .. .uvoluntary unemployment inevi- :table? Miss Perkins answers by saying that the maintenance of wage equili- brium and long-range business and ‘industrial planning can do much to « eure it. —But facts—candid, unbiased, compre- hensive—must first be collected. The lack of this sort of information is a se- vious handicap—Ilargely inexcusable, too, .Miss Perkins says. pyright, 1930, by North American News- | paper Alliance.) o- 'STATE BANKS CARRY T00 FEW U. S. BONDS ‘New York Ecomomist Would Add ~=More Government and Other Senior Securities. Avecial Dispatch to The St NEW YORK, April 11.—As contrasted - t0 bond holdings of national banks as a group, the State banks in the United States are in a somewhat more liquid “condition than necessary, said Dr. Paul +M. Atkins, economist of Ames, Emerich & Co., in the firm’s Current Bank Brief. ‘He points out that State banks as a group hold too few United States Gov- emment securities, as well as being “woefully weak in their holdings of rail- road and other public service and for- eign bonds.” Their portfolios of other scurmu are greatly in excess of their condary reserve needs, it is sald. s From June 30, 1928, to June 29, 1929, total holdings of securities by State decreased almost $500,000,600. ds 50 released were largely employed the call money market, this shift Missour) Pac pt (). Mohawk C Mills (3). Monsanto Cb (§1%). Montgomry Wrd (3) Moon Motors. Morrell & Co (4.40). Mother Lode (40¢).. Motor Meter G & E.. Motor Products (2). Motor Whe: Mullins Mfg s MurrayCor(b2 % stk. Myer(FE)& Bro (3). Nash Motors (8). Ni » Nat Biscuit, n (2.80). Natl Biscult pf (1).. Nat Cash Reg.A(14). Natl Enameling (3).. National Lead (18 Natl Rys Mex 2d pt. Natl Supply (6) Nau Surety (6) Nelsner Bros (1.60). Nevada Copper 13) Newton Steel (3) mRreSmmBeduonompINKe » NYChi&StL N Y Dock.... NY NH & Hart (6).. NYNH&HDpL(7).. 2.0 Norfolk&Westn(10). North Am Aviation. North Am(b10%stk) North Am pt (3).... North Am £d pf (6). . Nortnern Pac (6)... North Pacct (6). No Ger Lloyd (3.43). Norwalk Tire & Rb. . O Well Supply. . Oliver Farm Kquip. olvr Fr Eq ev ptd). Omnibus Corp...... LTS o EETS-S Ous Stee) 13%).. Pacifio Gas & £ (3) Pacifio Lightng ( Pacific Oll stu Packard Motor Pan-Ain Pete B Panhand| s Panhandle P & R pf. Paramount-F-L (4). Park & Tilford (33). Park Utah.. ® 8.2 JUTOPSS %% - O oo e Pathe Exchange A.. Patino Mines (a2.92) Peerless Motor Car.. Penick & Ford (1). Penney (J 8) (3). Pen (JC) pt A (6)... Penn Dixie Cement. . Pennsylvania RR(4) People’s Gas Chi (3). Pere Marq pf (5). Pet Milk (1%4). Phelps Dodge (3 Phila Company (17). Phila Co 6% pf (3).. Phila& ReadC& 1. Philip Morris (1) Phillips Petrin (n3). Phoenix Hoslery. Pierce Petroleum. .. Pilisbury Flour (3). Pirelll of Italy(3.14) Pittspurgh Coal, (B).. Prairie O1l & Gas(3) Proc & Gamble (3). Prod & Refiner: Public Serv, NJ Pub Sve NJ pt (5) Pub Sve NJ pf (6) Pub Sve NJ pt (8). %d{ng to increase the liquidity of lese banks. With the world trend toward lower fhterest rates and rapid withdrawal of funds from the call money market, a general revision in bond port- folios of State banks as well as national Yanks can be expected, he added. GHICAGO LIVE STOCK MARKET ! CHICAGO, April 11 (#).—(United States Department of Agriculture)— g!én—l.';.ooo head, including 5,000 di- mostly 10a15 lower; top, 10.60 , 150-230 pounds, 10.35a10.60; 240-300 inds, 10.10a10.35; packing sows, most- 9.009.50; butchers, medium to_choice, 0a300 pounds, 9.85a10.40; 200a250 unds, 10.00a10.60; 160-200 pounds, 10.00210.60; 130-160 pounds, 9.60a10.60; &ckflnx sows, 9.00a9.75; pigs, medium to oice, 90-130 pounds, 9.00210.25. Cattle—Receipts, 1,500 head; calves, rceipts, 1,000 head; generally steady market on all classes; local killers mod- erately active on all kinds except light yearlings; these weak but supply negli- gible; best steers here, 13.75; bulk, 10.50 212.50; fat she stock, 25a50 lower for week. Slaughter classes, steers good and eme. 1,300-1,500 pounds, 13.00a15.25; 1, 300 pounds, 12.50a15.25; 950- 1,100 pounds, 12.00a14.75; common and medium, 850 pounds up, 8.75a12.25; fed yearlings, and choice, 7502950 pounds, 12.00a14.75. Heifers, good and choice, 850 pounds down, 11.00a13.50; common and me- dium, 8.00a11.00. WS, and choice, 8.00a10.00; common and me- ditim, 6.75a8.00; low cutter and cutter, 500a6.75. Bulls, good and choice (beef), 8.00a9.25; cutter to medium, 7.00a8.35. Vealers (milk fed), good and cheoice, 9.00a12.50; medium, 8.00a9.00; cull and common, 6.0028.00. Stocker and feeder steers, good and choice, all ‘weights, 10.00a11.50; common and me- dium, 8.00a10.00. Sheep, 14,000 head; opening steady; early bulk fat lambs, 9.50a9.75: best held around 10.25; shorn, 8.75: s ewes, 6.50 down: shorn, 6.00. loe, 95 poninds down, 35810.5; choice, poun lown, 9.35a10.35; dium, 8.75a9.50; common, G.Mfls. medium to choice, 92-100 pounds, 8. 10.15. Ewes, medium to choice, 150, pounds down, 5.25a6.50; cull and com- mon, 2.7585.50. lambs, good and choice, 8.50 —_— BANK CLEARINGS. VNEW YORK. A ‘Néw York bank today, $1,- 317,000,000; a year ago, $1,425,000,000; New York bank balances, today, $165,- 000,000; a year ago $172,000,000; New York Federal Resreve credit balances, m.o%o $157,000,000; a year ago, $137,- —_— (up Pullman Corp (4. Pure Oll (1%).....0 Purity Bakerles (4). Radlo Corp. .... Radio pf A (3%). Radio pf B (6). Radio-Keith-O: 3. Reo Motor Car (.80). & Repub Ir & Steel (4). Rep Iron & Sti(new) Rep Ir&Stl ctfs (4).. Reynolds Me 2.4 Sateway Stores(es). St Joseph Lead (13). St L-San Fran (8)... 92 St L-San Franpt(6). 24% Bavage Arms (3).... WHITNEY IS SLATED AS EXCHANGE HEAD Colorful Figure in Financial Dis- trict Practically Assured of Election. Special Dispatch to The Star. NEW YORK, April Whitney, vice president of the New York Stock Exchange, who will be re- membered for his 25,000 share bid for United States Steel when the market was toppling last Autumn, and also for | M the fact that he took his barber as a fishing companion to Florida this Win- ter as a reward for the way the barber massaged and shaved him durin stock market unpleasantness, will be the official nominee for president of the Stock Exchange next Monday. Nomination assures election. . Mr. Whitney, is the head of the hxoke:se firm of Richa:d Whif & Co., closely associated J. P. Morgan & H. H. Simmons, the present head, who is now abroad. Mr. Simmons served six terms as president, which is unprece- dented since the rreunt organization was perfected, in 1869. oA TAIATE Yiee: Stuoreeas, the ex , later a governor, then ncha:nlfimm of the business con- duct committee and then vice pre dent. He is a director of the Corn wi ers of New Zealand are taking power farming. . s Dividend Rate. Add 00 High. 4 28 t 11.—Richard | Haiku Pine: ~Prev 1930.— Seneca Servel Simms Sinclal Skelly Snider Solvay Spicer Sterlin, Subma Tri-Co Unlon Union Union Union Utd At Utd Al Utd Bl United caoaaaaaacac nuuanRennnn W White White Wilcox Worth Stock and Dividend Rate. Add Schulte Retail 8 Seaboard Air Lin Sears Roebuck (333) Second Natl Inv..... 4 Utd Carbon (2)..... 163 Utd Cigar Stores. 2 Utd Corporation.... 1259 Utd Corp pf (3). Utd Gas & Imp(1.20) 74 UtdGas & Im pf (). 3 U S Steel Sales— 00 High. Low. 8Nt 20 COpPer. « oo In oot Sharon Steel H (3).. Sharp & Dol Shattuck(FG)(11%) Shell Union (1.40)... Shubert Theatres. .. Simmons Co (3)... Fet (1.60) r Con O1) (: Sinclair O1l pt (8) ofl (2) Packin, Am In Southern Ry pf (5) Spang-Chalfant. Sparks Withngtn(1). Spencer Kelg (1.60). Mfg. Splegel-May-St (3).. Stand Brands (1%). Stand Gas & El (3%) Stand G & E pf (4) Stand lnvest Corp. Stand O of Cal (2% Stand Oll Exp pf (6) Stand Oil of Kan (2) Stand O N J (13).. Stand Ol N Y (1.60). Sterling Sec A. g Sec ov. Stew-Warner (b 3% Stone & Webster (4) Studebaker Co (5). rine Boat. Sun O11 (11) Superior O1l. Symington (A) Telautograph (11.30) lenn Cop & Ch (1) . Texas Corp (3) Tide Water Asso §0c. Tide Wat Asso pf (§) Timken Det Ax(30e) Timken Roller (3)... Tobacco Products. .. ‘Tobacco Products A. ‘Transcontl Ofl (30¢) Tri-Continental Cor nt Corp of(8). TwinCity Rp T (4).. Una-Ell-Fisber (5).. Bag & Paper.. Union Carbide (2.60) Ol of Cal (32) Pacific (10, Pacific pf (4). reraft& Trans reraft&T pf 8. scult (1.60)... 12 13 3 7 Stores A. U S Express... . U S & Foreign Secur. S Frelght (3)..... Ind Alcohol (17). r 18t pf... Ref (33%). m. melt Ref pf 3% 4 1(7).. of (T)... Univ Pipe & Ra Utll Pwr&Lt A (e2). Virginia-Car Chem. Virginia-Car 6% pf.. Waldorf Systm (1%) Walworth Co (2).... Ward Baking B..... Ward Baking pf (7).. 4 Warner Bros Pic (4). -Quinlan (1). Motors (3).... Reck MS(143%) White Sewing Mach. Wilcox O1l & Gas. Wileox Rich (A) Rich. B (2) Willys-Over (1.20).. Wilson & Co. Worthington Pump.. Pump B (6).. Wrigley Wm (6).... Yellow Young Young Zenith Truck &C.. Spring (. Sheet & T Radio........ 80 28% 3 4 2 146 RIGHTS EXPIRB Am Roll M. June 16 ChiRI&P Int Tel&Tel. . May Pac Lightg..May 1 % 1% 3% % Rossia 3% SoCal Sales of M : s as given in the d on tl stock. Ho Yeguiar ata.. b P % B Hu 2% In stock 214 8515 stock: DIVIDENDS DECLARED NEW YORK, April 11 (P)— REGULAR. Pe- ce 5 Rate. riod. Alb 'Wood Bres pf. 3175 @ Assoc Sec Investors. 36 cum pf. L1500 Q Bird & Sons pi..; 178 @ Bohack Rity 7% pf 175 Q Pow & Inv pf (350 Pay- Hldrs. of able. record. Apr ‘1 Mar 20 Canadian 62% Q May 15 June May Lone Star Gas Met Industries pf. Pow & Lt 36 oloney Electric A. Natl Terminals pr pf Duke Ends War Exile. ding less § Payable in scrip. 1% 1% 2% 5% Ins. Apr 28 45 % Ed.. April e Stocks on New York Exchange 947,900 12:00 Noon X 4.043.600 4.482.200 May9 29 1 579 6 bove table he iscest quartzrly or aalf than 100 shares. t Partly 1Flus 9% in stock. d Pl 0% i sock: & Bide 87 i Stock. k. 1 Plus stock. lus z Plus 8% In +took * k Fius 3% in stock. B Bus Butter—One-pound prints, 41,a42%; tub, 40%;a41%;. Eggs—Hennery, 26a27; current receipts, 24a25. Poultry, alive—Turkeys, young, 34a3! old, 28a30; Spring broilers, 33a40; Win- ter chickens, 32a35; Leghorns, 33a34; fowls, 28a30; capons, 32a35: ducks. 15a,) 16; keats, 60a65. Dressed—Turkeys, you! 8a40; old, 34a35; Spring broilers, Winter chickens, 37a38; Leg- , 36a37; fowls, 32, capons, 35a40; ducks, 25a26; keats, 80a90. Meats, fresh killed—Beef, 20a23; veal, 25a28; lamb, 22; pork loins, 28a30; f 26; fresh shoulders, smoked hams, 28; smoked shoulders, 20a22; bacon, 28; lard, in packages, 12%; in bulk, 13. Live stockCalves, 8a13; lambs, 108, 13; Spring lamb, 20. : FOREIGN EXCHANGES. (Quotations furnished by W. B. Hibbs & Co.) 8l gold Selling chec! R e Paris, franc. 381%e Brussels, belgs.. Hin, mark.. < Prague SCHLOSS REMPLI, Germany, April 11 (#).—After 10 years of exile in Den- mark, Duke Karl Michael of Mecklen- burg has returned to his estate. He re- nounced his allegiance to dur- DEMAND 1 ACTIVE Foreign Group Is Also Fea- tured in Trading—U. S. Issues Quiet. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, April 11.—Convertible issues divided attention in today's bond market with foreign descriptions. The former moved with their respective stocks as usual and among the latter the Japanese economic crisis, which re- sulted in a suspension of trading on the Tokio Stock Exchange, was re- flected by mild weakness in Japanese dollar bonds, particularly the Japanese 628 and the City of Yokohama 6s. Announcement that the state of Sao Paulo had successfully negotiated a cof- fee loan explained the recent strength in the 6 per cent bonds of that gov- ernment. They made a further frac- tional gain today, but without much effect on other Brazilian obligations. Other foreign bonds were steady, with especial interest in German issues, still preparing for the expected offering of Treparations bonds. the was the International 11116 FRIDAY., APRIL 11, 1930. UNITED STATES. (Bales are i $1.000.) Sales. High. Low 7 10018 100 14 101 16 2:88. 10016 10116 191 16 101 20 101 20 1008 100 8 100 15 10015 104 18 104 21 1078 10712 11113 11116 FOREIGN Sales. High Argentine 6sJu 69 Argentine és Australia 4% Australia 68 1955. Australia 6s 1957 1 Chile 6s 60. Telephone 4135, which in heavy trading | cms; mounted to & new peak for the year. American Telephone & Telegraph 414s Ch! were more irregular but maintained thelr position as the most active bond on the list. Two other stock-privilege issues which attracted attention today were International Cement 5s and In- ternational Match 5s. United States Government bonds kept most of the gains of Thursday, but the turnover was comparatively small. The feature was the tax exempt 31:s, equal- ing their previous 1930 high. Railroad bonds of the second grade and speculative class were heavy, ex- amples being Seaboard 6s and Missourt Pacific general 4s. Chicago & Eastern Illinois 55 were fractionally higher for a time. Manti Sugar 7!5s rallied after their recent dip, Lut there was a further decline in Certain-teed Pro- g,u‘(l::? 5%s. Hudson Coal 55 were also e INTEREST RATES. By the Associated Press. Collateral interest rate shifts last week, as revealed by Census Bureau averages, were practically negligible, but as far as experienced were in the way of stiffening charges. Figures which follow give the rates for the week and comparable periods in principal business cities. Time money. 414% 414% 8% Call loans. 4% 3%% 9%% Week ending April 5 Preceding week .... Same week last year. STATE BONDS SIGNED. BALTIMORE, April 11 (Special).— Controller Willlam S. Gordy, jr., yester- day signed $2,245000 in State gold bonds, which are to be issued June 15 to secure funds for the Eastern Shore boulevard, for other post roads and for bridges throughout the State. The bonds were then sent to State Treasurer John M. Dennis for his signa- ture. The issue, which was authorized by the 1929 Legislature, is to bear in- terest at 4'; per cent. The bonds are for 13 and 15 year periods. o Washington Stock Exchahge SALES. Polknnnlc Electric Cons. 55—$1,000 at 215, Capital Traction Co.—10 at 79. Potomac Electric 512% pfd.—6 at 10814, 10 at 10875 Washington Rwy. & Elec. pfd.—8 at 98. District N nal Bank—10 at 215. National Savings & Trust Co.—5 at 575, 5 at 580, 10 at 579. District Nat'l Securities pfd.—10 at 90. Lanston Monotype—10 at 117}, 5 at 11712, 10 at 118, 10 at 119, 10 at 120, 1 at 125. Merchants' Transfer & Storage com.— 10 at 110. Peoples Drug Stores pfd.—10 at 109. Mergenthaler Linotype—10 at 108, 35 at 108, 10 at 108, 25 at 108, 10 at 108, 10 at 108. Real Estate Mtg. & Guar. pfd.—16 at 7. AFTER CALL. Wl:h:l;lwn Rwy. & Elec. 45—$1,000 af Capital Traction 55—$500 at 96. Capital Traction Co.—2 at 79, 3 at 79, 10 at 79. Washington Gas 6s B—$3,000 at 105Y. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Bid. Asked. Amer. Tel. & 100 Amer. Tel. & Wash., Bait! Washington Gas 5s . 3 65 series A. 65 series B. . Ry. & Elec. 45 MISCELLANEOUS. Barber & Ross, Inc.. 6's. Cham.-Vanderbiit Hotel 6! ot. Joint Stock Ld . Mkt. Cold Storage 5s. . Cons. Title s... STOCKS. PUBLIC UTILITY. Amer. Tel. & Telga. (9) ‘action Co. (7) Natl. Bank of Wash TRUST COMPANY. Amer. Sec. & Trust Co. (15). Continental Trust (6) . Merchants’ Bank (6) Natl. Sav. & Trut Union Trust (8g)... ‘Washington Loan & Trust (14). ‘ SAVINGS BANK. ank of Bethesda (6§). imerce & Savings (10) East thln‘:,on a2 ac Savings New m 265 498% 63 330 Washinston Mechanics FIRE INSURANCE. American (12 Corcor o) Firemen's (8) : National Union’"(is) : TITLE INSURANCE. Columbla Title (6h).. Real Estate Title (6h). Title & Inv. of Md. coi S22 E..gfsgs’.’:’:sus: = ol... Chile 73 1943 1 Copenhagen bsct. . Cuba 6%s. . Crecho &= 1951 Danish Munic 88 A. Denmark 4148, .... Denmark R DE15%s Nov§3.. Dutch East 147.... Dutch East I Fiat 78 ex war Lo Finland 6% German Bank 6a 3. German EI P 83, Japanese Japanese 634s. ... Jugoslavia Bank 78 10 Karstadt 6s1943... 8 Kreuger&To')l bs ct 329 1 Norway 6s 1963. Norway 6%s. Norway 6s 1943, Paris-Ly-Med Paris-Ly-Med Paris Orlean Peru §s 1960. Peru 6s 1961. 99% 99% 99y 95 99% 99% 83% 98 Low. 2:85. 9% 99% 99% 95 09U 99% B3h 90% 91 106 9874 1024 108% 112% 107% 115% 101% 104% 100% 110 109% 92'y 104% MISCELLANEOUS. Abitibl Pa&P 08’83 27 Abram&Straus 8340 13 Am Int Cor 6%s ¢$ Am NatGas6%8s 43 1 Am Sugar Ret Am T&T cv ¢ %, Am Tel&Tel Atlantic Refin Beth Steel rf b Bell Tel Pa 68 B.... Bell Tel Pa 63 C. Bethienm Sti pm Bkiyn Edison 6s... Certn-Td 6%s rows. Chile Copper Colon O11 6s 38 Col G&EL 6» May Com Invest 6%8 Com Invest 63 4! Con Coal Ma . ConGasN Y 6%s.. Consumers Pow 6s. Cubap Am Sugar $s Bast Cuba Sug 7%» Fisk Rub 8s. . Gen Cable 6 %s 7. Gen Mot Ac Cor Gen Pub Serv %8s Gen Stl Cast 5%8 ¢t Goodrich 6% Goodyear §s HumbleO & R s Humble O & R %8s i1l Bell Tel . Inland St 438 78. Inti Cement bs ¢8.. Intl Match 68 47 Int Mer Mar s Int Paper 6s 47 Inter Paper 3. . Int Tel & Tel 43! Int Tel&Tel ¢34 1&Ta) Kendall 6%s ¢8 Laclede G 638 63. . Pacific Gas & K PacT&T 1stés... Paramount 65 1941. Pathe Exchange T Phila Co 63 67 Phila & Read 68 ‘49 Phillips Patro 6% 8 Pillsbury F M 6e’43 Postal Tel & C 6% Pub Serv G 43%s ‘67 os. b 7 : 1 6 8 4 2 1 4 5 24 Pub Serv Gas 4%s. 104 Rem Rnd 6% war. Richfield Of] 68 ¢4 Sinclair O1l 6s. . Sinclair O1 Sinclair O1) Tenn Cop 65 B 44.. o 944 Transcont! Otl 6%s United Drug 6s 63 Utilities Pow 6 %! Walworth War Quinland Warner Sug 18 ern Eleo Westn Unton b Westn Union 6%4s. Willys-Ov 6348 33. Wilson & Co 1t §s. Youngstn S & T 68 . Hi 106% FINANCIAL. CONVERTILE BOND | == = BONDS o scs] RN BOARD PLANS igh. 100 106% 102% 102% 101% 101% 101% 102% 101% Low. 3:88. 106% 106% 99% 100 106% 106% 102% 102% 102% 102% 101% 101% 101% 101% 101% 101% 102% 102% 101% 101% 64 64 100 100% 101 101% 95 95 104% 104% 93% 4w 97% 9% 9T 9% 100 100 964 96% 100% 100% 102% 102% 103% 103% 49% 100 934 98% 103% 105% 4 104% 104% 103% 103% 96% 96% 101% 101% 104% 105 102% 103 96 96% 874 874 100t 100% 100 100 92 92 92 92 90 90 % 105% 105% RAILROAD. Ann Arbor 4 Atchison ad) 4 Atch deb 4% 43, Atenison ge At& Bir 48 Atl & Dan AtlantieCL Atlantic C L 18t AtlanticCL ¢%8 64 Balto&Ohio gold 8. B&Ocviy . B&O B&O B&OSs R&O1st6sct B & O Toledo Boston & Maine Brdway & 7th Av Bklyn Elev. § Bklyn Manhat 6 Bklyn Un El 68 60. . Bklyn Un El 68 sta. Buff R & Pitts 4 %8, Can Natl 58 Oct ‘63 Can Nor 4% 1935.. Can Nor 6% Can Nor 78..... Can Pac deb 4 Can Pacific etfs Cent of Ga 68 C §9. Cent Pac 4 Cent Pac 18t §8 90. & O Corpn b Ch Ogen 4% Ch & 0 4348 B 1995, CB&Qistreb CCC&StLS Chi&E 111 gn 61 Chi Gt West 48 69.. ChiM&StP43%8C89. Chi M&SLP 4 %s E. Chi MiISP&Pac6s7b CMSP&Pac adiss03 Chi & NW gn 3% Chi & NW gen 4i .. Chi St P&O 63 30. .. Chi T H. 6s. Chi Un Sta 4%s Chi Union Sta 68 44 C&EWI1b%n6l. ... Clev Term 4%8 17 Colo & Sou 4%8. ... Cuba RR b8 Cuba Nor 6% Del & Hud 1st rt Del & Hud 18 30 Den & Rio G cn & Den&R G W 4%s 36 DRG & Wst b8 DRG & Wst b8 1! Duluth S 8 & At 6 Erle 18t cons 48 Erle conv 48 B. £rie Gen ¢s. Frie cv 6s 67. Erle 5s 1930 wi... Erie (Pa) elt tr 5. Fla East Cbs Gr Trunk st db Gt Nor 4%s Gt Nor 4% Gt Nor b Gt Nor gen 7s. Hav El Ry 68 62, Hud & Man &) bi Hud & Man ref 111 Cent 4% 111 Cent Chi 4 %! Int Rapid Trans bs. Int Rap Tr 6s stpd. Int Kapid Trans 6s. Int Rapid Trans 7s. Int &G Nora1j IntRysCA Kan City Ft 8 4 Kan City Term 4 Lake Shore ¢ °31. . LehiVgen 4% 2003. Man Ry 1st 45 90. Market St 78 40.... M1l El Ry & L 68 61 gtd, MK&TorinbsA. Mo Pacifio ge Mo P-an: 5225 2z2Zz2Z7z%2 gt zgggz“z anQ 85 'Wn gen b8 z222 ardam Penna gen 43¢ Penna 4%s .1:10. Reading gen ¢34s A RIATK& L é%s RioG W istds.... 4%scv 60., 133 4 1 1 1 24 1 2 13 5 1 1 36 6 4 10 . 1 3 12 13 13 1 10 10 11 20 10 31 20 6 5 14 1 15 14 8 7 1 17 9 6 4 0 5 12 2 5 4 28 1 831, 90% 13814 983 94% 100% 104 103% 103 105% 100% 923 103 1004% 9915 9619 106% 89t 971 100 99% 99 103% 106 981 1004 £0% 6415 93% Y 101 1064 11 978 97% 106% 111% 80 801 98 981y 10319 103% 102% 102% 109% 109% 100% 100% 101% 101% 102 83% 90% 138% 1 94 88 6214 89% 9284 9815 931 98 100 100 103% 104 83% 90% 3814 94% 102% 102% 102% 102% 105% 105% 101% 102% 1011y 101% 99% 99% 116% 116% 111 111% 86 86 103% 92! 0. 994 101% 102% 105 105 89 89 9T 9 100 100 9%, 9un, 99 99 103% 103% 104 105 98 100 100 80l 80% 643 64 931 100% 100% 941y 9813 94y 29 6% 93 8 101 60 60 10515 106% 110% 110% 9T YT 975 106'¢ 106'% 111% 111% 97 80 80 9% 98%, 80 80% 98 94y 1 94 100% 100% 101% 91% 9R%, 1001 9% 96% 98% 8714 8T% 88 88 101% 101% 79% 79% 100% 100% 99% 100 99% 99% 112% 112% 98% 98% 101% 101% 91% 91% 98%, 98% 100 100% 106% 106% 107 107 80 80 106% 107 102% 102% 7R 18 8 85 921, 93 129 129 61 19 4% 994 99% 108% 108% 1% 91% 9% 99% 86 86 981 | 103 | 100% 100% | oy 102% 100 99k 99l 961 46l 106% 106% 9814 STIR OPPOSITION Operations in Wheat Market Are Declared Deterrent to Foreign Sales. BY J. C. ROYLE. Bitter opposition to the program of the Federal Farm Board is developing in the Midwest. Farmers there con- tend that there is no important surplus of agricultural products, except in whe and add that if the board had not artificially held up the price of wheat at a level whith prevented the buying of the American crop in for- eign markets there would not now be an_extraordinary surplus. The main policy of the Farm Board is devoted to the reduction of acreage on all agricultural products and smaller crops. The Corn Belt Farm Dallies, an acknowledged authority in the corn, live stock and agricultural field, de- clares the impression of important agricultural surplus is exaggerated. Favorable Spring. The Dailies says that agriculture was in good shape last Summer. Prices were at a level that insured prosperity for good farmers. They blame the board for creating an unfortunate psycholog- ical attitude, asserting that the only surplus production was in sheep, dairy products and poultry. The Farm Board declares that acreage and production must be decreased, but both contending 10214 | Parties prophesy better farm prices. has been a generally favorable Spring. Farmers are, on the whole, far along with their planting. Corn plant- ing will be early, and this indicates a heavy crop, benefiting both the corn | growers and the live stock feeder. Live stock is the bright spot in the situation. Despite the heavy increase in sheep, well conditioned beef is sell- ing at profitable prices. Hogs, while lower than a year ago, are still return- ing profits to breeders and feeders. x.-logsou;.dn be produced at 6 to 8 cents now and are averagi 10 cents at market. Sl Growers admit that their safety les in diversity of production. Where cows, sows and ewes are included in the farm products there seldom is a time when some live stock cannot be sold at a profit. This has cut down the neces- sity of securing farm loans and has stabilized the business of all merchants in the agricultural marketing centers. Farn Board Confident. With those factors in_mind, the op- position to the Farm Board program is not hard to understand. At first the farmers said “Let’s see how it works.” Now there is serious doubt in some sections whether it will work. The Farm Board, on the other hand, declares it can and will put its program through to a successful conclusion if co-operation is accorded it. On the her hand, the very leaders of the es- tablished co-operatives in many cases will not extend that co-operation. |, However, as long as steers are bring- ing in $260 to $270 a head, and as long as four head will buy a good auto and ?:Aremh;ad Wfltlhpu!’ electricity into the lome, the situation i being dark. SE o (Copyright. 1930.) Baltimore Markets Special Dispatch to The Sta BALTIMORE, Md., April 11.—Poul- try alive—Turkeys. pound, 35a40; old toms, 25a30; chickens, young, 33a42; Leghorns. 23a37; old roosters, 17a20: capons, 35a40; ducks, 17a30; old hens, 29a30; Leghorns, 20a27: guinea fowls, each, 50a75; pigeons, pair, 30a35. Eggs—Receipts, 2,026 cases; nearby firsts 2612 hennery whites, firsts, 27)5; duck eggs, 35a38 Butter — Good pound. 36a3975; packed. 18al9; 3112a32. to fancy creamery, ladles, 31a32; store rolls, 25a28; process, Vegetable Prices. Potatoes, white, 100 pounds, .35 3.00; new, bushel, 15082.75: sweet Potatoes, barrel, 2.00a4.00; yams, bar- rel 2352300, beets, crate 25023.25; . _dozen, '150a4.50: hamper, 2.50a4.50; Dater. Lo 2.50a3.50; : caulifiower, .50; 50; kale, bushel, 50a75; peppers, crate. : spinach, bushel, 35875 “remi hamper, 1.50a1.75; squash, bushel, 2.00a 3.50; tomatoes, crate, 1.00a3.00; turnips, hlm_per, 50a75; apples, bushel, 1.00a :éfl). ';‘5'?):’;‘(‘)’(;. box, 3.00a3.50; oranges, £ ; strawberries, quart, Live Stock Market. Cattle—Receipts, 300 H oy kx:lrkelhdulf o e Ts—Choice to prime, none; good to choice, 12.00812.75, medium v 1100 180:" falr to, Mmedium, 10.008 ; air, 9.0089.75; fopliin, 80088.75. o jul 0ice to prime, n ; good to_choice, D.OA)AIDJWI;J medlum‘m:o good, to medium, *8.00a8.50; 8.5089.00; fair plain to fair, 7.00a8.00; common to pllén. 7.00a7.50. ows—Choice to prime, none; good to_choice, none; med?um to lo\l:d, 7.00a S“.’ZS:“&.Iirs ‘;A;.sl'lb%dlum‘ 6.00a7.00; plain 3‘5}2‘&‘50' mmon to plain, eifers—Choice to prime, none; good to choice, 10.00a11.00; medium to good, 9.00210.00; fair to medium, 8,00a9.00. plain to fair, 7.0088.00; common to plain, 6.00a7.00. and springers, 60.00a Fresh cows 15%00. Re logs—Receipts, 500 head; light - ply, market steady: lights, ul.’tfo-u'.gs heavies, 10.15a10.85; medium, 5 11.30; roughs, 17.50a9.35; light pigs, 10.25a10.75; pigs, 10.90a11.15, HEE SuppIY. mARESt eseeerr Sheom, o ; et steady; sheep, 2. .00; Tambs, 6.50a11.00, > SheeP 3008 Calves—Receipts, 50 head; light sup- ply, market steady; calves, 7.00a14.00. Hay and Grain Prices. Wheat—No. 2 red Winter, exports, 113; No. 2 red Winter, garlicky, spot, 115: April 115; May, 1.16%; No. 3, garlicky, no quotations. Corn—No. 2 domestic, yellow, new, 94805 cob comn, new, 4.8524.90” at—No. 2 white, domestic, spot, 8515856; No.' 3 white, domestic, shot, Rye—Nearby, 80a85. Hay—Receipts 10 tons; no change in market. Some little hay is arriving, but hardly enough upon which to estab- lish quotations by grades. Better grades of timothy and clover mixed are selling from 18.00 to 22.00 per ton, according to quantity and condition, receipts by i Lng:': supplying most requirements. 9. aw—Wheat, No. 1, per ton, t, N N9 Sales. High Sou Ry gen 4 10 90% Sou Ry con b Sou Ry 63 Virginia VIRy &