Evening Star Newspaper, April 12, 1930, Page 24

B—8 * GERMAN OIL FIELD 10 BE DEVELOPED District Near Hanover Has Given Promise of Great , Fuel Supply. BY JOHN F. SINCIAIR. Special Dispatch to The Star. NEW YORK, April 12.—“Yes, there 18 a very general belief that Germany has no oil fields and never has had any—at least, not enough to brag about. Yet, would you believe that the Wietze fleld, consisting of 1,400 acres, close to the town of Celle, 30 miles north of Hanover, has drilled 1,600 producing wells and has taken out of that field in 30 years, without afoot of pipe line to aid, more than 11,000,000 barrels of oil! Not a well is over 800 feet deep.” T. M. Pettigrew of New York, an im- portant factor in the North European Oil Corporatior, made the above state- ment as he was leaving last night on the Bremen for a further study of the German oil fields. Since the announcement that this corporation has leased 1,600,000 acres in the North German plain—in the tri- angle formed by the cities of Hamburg, Bremen and Hanover—to the Cities Service Co. European newspapers have been filled with the discussion of what is In store for Germany. “We are satisfied that Germany will have the next big oil development of the world,” continued Mr. Pettigrew. “Her opportunities in oil have been neg- lected, but now there is plenty of money for exploration and development. This is the next big step.” A conservative attitude in the de- velopment of these oil fields is needed now “plus a scientific study of the whole structure,” Mr. Pettigrew said. German reparations may yet come out of oil. Who knows? After the second largest day of the year, with a turnover of more than 5,600,000 shares, the New York stock market yesterday turned lower at the close, with considerable profit-taking. Earlier in the day the closing of the ‘Tokio Stock Exchange, Japan’s financial center, made Wall street anxious. The closing was precipitated by the walk- out of 30,000 employes of the Kanaga- fuchi spinning mills. Old traders remembered that four times, since 1914 the Tokio Stock Ex- change has closed. Three times it sig: naled a general weakness on the New York stock market. ‘While 5,000,000-share days are again in vogue, the increase of only $26,000,- 000 in brokers’ loans for the weeck end- ing Wednesday last was a pleasant sur- prise. It probably shows that stocks are not being bought on heavy margins —a good sign just now. The ratio of brokers’ loans to the value of all listed stocks on the ex- change rose slightly to 6.12 per cent in March, but the market is not consid- ered technically dangerous at such a point. It is only when the ratio runs up 9 or 10 per cent that the danger signal must be heeded. Public utilities, oils and rails have been the market leaders this week. Will the establishment of the branch banking system within a well defined “trade area” be followed by a dropping of interest rates to borrowers? Gov. Roy A. Young of the Federal Reserve Board answers in the affirma- tive. Naturally people are interested in securing money from the banks at the Jowest Tates possible, but more impor- tant than cheaper rates in the branch banking field is the question of whether @anncits are better protected and local ‘communities» are as well provided with credit to build up local enterprises. Certain critics believe lower rates for borrowers can be secured in other and more direct ways. H. Parker Willis, New York Journal of Commerce editor, comments thus “If Gov. Young wants to give the busi ness man cheaper interest rates he will stop worrying about branch banking and will do what the Federal Reserve act authorizes—provide for direct buy- ing and selling of satisfactory two- named paper from the Indl\'lduals and firms that make it and own it.” But the New York editor does mnot stop there, He adds: “Gov. Young should discourage the development of excited stock market dealings on Fed- eral bank funds and he should bring to & close the various factors in the pres- ent situation which tend to transfer too much money to the financial centers.” Being governor of the Federal Re- serve Board is no sinecure. (Copyright, 1930. by North American News- paper Allfance.) Business Notes By the Associated Press. NEW YORK, April 12.—Prices of tin, sinc and silver are slightly higher than & week ago and a substantial tonnage of zinc was sold, but the market for non-ferrous metals during the past week was otherwise noticeably quiet, u.-cording to Metal and Mineral Markets. Copper sales were reported as having fallen off during the week, although there was no sign of weakening from the 18-cent price. The Western Pipe & Steel Co. has yecelved an order from the Southern California Gas Co. for eight gas holders. Richard H. Brown, president of the ‘Manbhattan Electrical Supply Co., before leaving on a trip through the Middle West, in connection with proposed ex- tensions of the company’s activities, de- clined to discuss reports of an impend- ing merger involving his company, but said that all the subsidiary concerns were showing better statements now than ever before. One of them, the| Trout Mining Co., is now negoti contract which will double its gnzse output. Arrangements are now made to change the name of the ttan Electrical Supply Co. to the Amerlcln Machine & Metals, Inc. Orders received by Thompson Prod- ucts, Inc., of Cleveland, from the Ford Motor Co. during the past month have necessitated the inauguration of three eight-hour shifts at the Detroit plant. ‘The British type investors’ annual re- port, for the fiscal year ending February 28, 1930, shows an increase in total re- lnurces during the year of about 500 cent. The increase was from $1,- M’ 520 to $10,741,291. March sales of the American Depart- ment Stores Corporation amounted to $703,546, compared with $915251 for e same month last year, a decline of 133 per cent ing a Man- CLOSING OF EXCHANGE . LAIDTO MANIPULAT!ONS By the Associated Press. gardi yesterday's closing, it is understood the Bank of Japan has cabled an explanation to the effect that investigations indicate the! obligotions, as is closure was due to private manipula- tions and had no relation to the gen- eral economic condition of the country. - COPPER STOCKS INCREASE. NEW YORK, Aptil 12 (#).—The American Bureau of Metal Statistics reports that the stock of refined copper in North and South America on April l totaled 256,020 tors, an increase of 22,897 tons during the month, and com- g with 213,404 tons on February 1. tal lu)cks of refined and blister cop- .per on April 1 were 522581 w as sgainst 497, 372 o March 1 and 613 * on Fébruary 1 FINANCIAL, THE EVENING STAR, NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. 164 Mexican Seaboard 26% Miami Copper (4)... 53 Michigan Steel (23). Mid-Cont Pet (2).... Middle States Oil et.. Midland Steel (3 Mo Kan & Tex pf(1). Missouri Pac pf (5). Mohawk C Mills (3). Mother Lode (40c).s Motor Meter G & E. . Motor Products (3).. Motor Wheel (3). ey Mullins Mfg pf (T).. Munsingwear ‘14)..: MurrayCor(b2 % stk. % Myer(FE)& Bro (3). Nash Motors (6). Cash R.‘.A( 4) t Dairy (32) Natl Dept St Nat Distillers (2)... Natlonal Lead (18).. Natl Lead pf A (7).. S()l U Pwr & Lt (1) tl Radiator pf.... Natl Ry Mex 18t pf.. Natl Surety (6). Nat Tea Co ll)..u— Neisner Bros (1.60)., Nevada Copper (3).. wton Steel (3). N ¥ Central (8) N Y State Rys pf. N Y Steam pf (6).. 108 N Y Steam 1st pf (7) 180s North Am Aviation. 14 North Am(b10%stk) 40 North Am pf (3).... b North Am Ed pf (8) No Ger Lloyd (3.43) North Pac ct ¢5) Northwestn Tel Norwalk Tire & Rb. . Norwalk Tire pf. . 2 Oliver Farm Equip. . Otis Elevator n(2%) Otis Steel prpf (7). Owens 1il Glass(n4). PacificGas& B (2).. Plclflfl Lighting (3). ol Pan-Am Pe Paramount-F-L (4). Park & Tilford 1:1). Park Utan. Parmelee Trans 1% o Pathe Exchange. Patino Mines (a2.92) Peerless Motor Car.. Penney (J 8) (3). Penn Dixie Cemet R 3). Phila & Read C& 1. Philip Morris (1)..e. Phillips Petrm (n2). Phoenix Hoslery. ... Phoenix Hos pf (7)., Plerce-Arrow A..... Plerce-Arrow pt (8).. Plerce Oll. B Pierce Oil pf Plerce Petroleum. Plllsbury Flour (3). Pirelll of ltaly(3.14). Pittston Company Poor & Co (B) 3). P Rican Am To (A P Rican Am To (B) Prairie Ol & Gas(2). Prairle Pipe L (16). Proc & Gamble (2) Public Serv, NJ 3.4i Pub Sve NJ pf (6) Tub Sve NJ pf (7) % Punta Alegre Sugar., Pure Oll (1%) % Pure Ol pf (8) Purity Bakerles (4). Raybestos Man 3. IO. Real Stlk (5) 0). Repub Ir & Steel (4). Rep Iron & Sti(new). Rep Ir&Stl ctfs (4).. Rep Ir & Stl pf (7).. Reynolds Metals 2 D Reynolds Tob B Richfield Oll (2)..... Rio Grande O11 (3).. Rossia Ine (2.20).... Royal Dutch (a3.20). Sateway pf (6). Schulte Retall Stra.e Seaboard Alr Line. .. Seabodrd Alr Line pt. Seagrave (e1.20). Sears Roebuck ($3% ) 5 Second NatlInVe.... Seneca CODDer..ases Simmons Co (3) Simms Pet (1.60).... % Sinclair Con Oil (3) Skelly Ofl (2).... % Solvay Am Inpf §%. (Continued From Page 17.) —————— 23 41 26 117% 90 33 19% 13% 6 20% 21% 22% Stand lnun carp. . Stand O of Cal (2%). Stand Oil of Kan (2). Stand O N J (12)... 182 Stand Ol N Y (1.60). Stock and Dividend Rate. 24% So Por Rico Sug (3).. 56/ Southern Cal Ed (3). 119% Southern Pacific (8). 123 Southern Rwy (8)... Southern Ry vt (5).. Sou Ry M & O ct (4) Bales— Add 00. High. T 26‘/‘ 99 !;' Dlon Clnll 6914 128% 125 100 ‘120 42 8214 29% T4 23% 30 26% 119% 124% 66% 124 T0% 48% 8% 36% 69 19 35 Stand Plate Glass vf. 30s Sterling Seo pf(1.20) 7 Steriing Sec A...... 1 Sterling Seccvpf(3) 2 Stew-Warner (h3%) 7 Stone & Webster (4). 215 Co Sup Tide Wi Utd G Unit P u u u u u u u Whi Y Sun O1l pt (6) Superior Oll. lor Steel Sweets of Amer (1).. Symiungton. . Symington (A) Telautograph (11.30) Tenn Cop & Ch (1), Texas Corp (3) Tex Gulf Sul (4) Tex P C & Oll. “Thompsn Prod (2. Thompson Starrett. . er Asso 60c. Asso pf (6) b ide Water Oil pf(6) Timken Det Ax(806). 4 Timken Roller (3) Tobacco Products. .. Transcontl Oll (30¢). Transue & W (1). Tri-Continental Cor. Tri-Cont Corp pf(6). TwinCity Rp T (4).. Und-Ell-Fisher (5).. Fspl(7), 10s Union Bag & Paper... 5 Union Carbide 12.60) Union O1l of Cal (32) Utd Afrcraftg Trans 144 Utd Biscuit (1.60) 69 13 United Fruit (4) & Imp (L. ¢ Dye W (2) United Stores A. Udt Stores pt. . U S & Forelgn Secur. S Ind Alcohol (17). Univ Pipe & Rad Utll Pwr&Lt A Ml)- Vadsco Sales Corp. Vanadium (14). Vick Chemical (2%). Virginia-Car Chem. . Virginia-Car 6% of. Virginia-Car pt (7). Va El & Pwr pf (6). Vule Detinning (4).. 2Us Vul Detinning A (4).160s Wabash. Waldorf Systm (1 K) Walworth Co (2).... Ward Baking A..... hl)u ‘ard Baking B..... Warner Bros Ple (4). 17 Warner-Quinian (1). ‘Warren Bros (new). Warren iros 1st (3). 10s '.6 'y&Pipe(2). er-Eisenlobr. . Ofl & Snow (2), 1001 1091 10814 Western Union ll).. tinghse A B (3).. White Motors (2).... Rck MS(t4%) White Sewing Wilcox U1l & G Willys-Over (1.20) Wilson & Co. . Woolworth (2.40). Worthington Pum; Wrigley Wm (4) ow Truck & C. Yellow Truck pf. Young Spring (3).... Young Sheet & T (5). Zenith Radlo. . RIGHTS EXPIRE Am Roll M., June 16 ChiRI&P. Int Tel&Tel..May 1 Mav 9 Pac Lightg..May 1 % Rossia In; 3% So Cal Ed... Dividend rates as given in the ai Apr 28 .Apr31 bove tlbl payments based on the latest quarter)y of 8 Uit of trading less than 1 ock. ned. ocx el 105 i 1 Plus 8% In stonk e Fiin'S1 i k. a d Pasable whe “teck k Plus 3% in stock. n Plus Washington Ticker BY CLINTON COFFIN, Associated Press Pinancial Writer. It is the considered opinion of the | Federal Farm Loan Board, which en- gages in the management of a na. tional system of rural credits that now holds about $2,000,000,000 of obliga- tions of American farmers, the current pessimism about agricultural conditions in this country is largely unjustified. The board has just taken occasion to set out its views on the subject, in the coyrse of publishing its annual report for the year, and the document em- phasizes three points: First, the im- mense majority of American farmers are capably meeting all their financial obligations; second, they are decreasing rather than increasing debts, and, thirdly, there is a stiffening in the value of farm lands over wide areas of the country. While dec]nrlns itself “fully aware of difficulties that have confronted agriculture,” the board registers a dis- sent to the form taken by many state- n;lents. political and otherwise, about ‘Comunt and sweeping declarations ism and despair about agri- culture during the past several years have tended to convey the impression that all farmers are inso!vent. which is far from the truth,” the report says. “Such unqualified statements erene the ‘wrong Ysyclmloxy and are bound to be Harmful to the credit of farmers. The great body of farmers of this country are upstanding citizens, who meet their demonstrated by the experience of banks of this system.” There has been a marked decrease in applications for farm mortgage loans during the last year, and even mow, though conditions for wers on land are steadily improving because of low interest rates, the Federal farm loan system does not expect any crat increase in demands of the sort. - deed, the repayments of old loans are serving in largest measure to take care of . such demand for new mortgage money as does appear. Finally, the loan system, as a land- owner of first de by reason o( the lnevima!e percmtue of is sble to report that demand tnr farm loan is markedly improving. “While complete data is not avail- able on all sales,” the report comments on this phase of the matter, “returns of the banks indicate that sales of 3,261 farms, amounting to $16,900,000, were made last year, as compared with 1,446 sales, aggregating $11,073,000, the year before, This progress was due to in- creased demand for farm lands in sev- :l"l sections and to better organiza- lon.” Four months of steady pressure against basic commodity prices has had its effect on depressing the selling fig- ures of practically every important substance necessary to commerce and industry, with the exception of copper metal. ~ This is the showing reflected by the careful series of Government statistics bearing on prices and pro- duction, and the cnpper per(ormnnce is all the more remarkable, in that the other metals with which it is grouped, like lead, zinc and silver, hnve been conspicuously weak as to price. Opinions differ as to the causes which niave led to the stiffness of copper, but mest views attribute the per(ormanee to the efficiency of Copper Export Association, which ates the for- of ‘the metal. Its price at 18 cents per pound, even though production has decreased. The main economic factor behind its ance movement, however, is the con- uous expansion in _consumption, which is shown by Mines Bureau to have increased from 60,000 tons a zssx in the last century to nearly a.lwn,- tons yearly ln the last decade. res of market. Carriers usually prepare :dv-nue for the xudoen lnnux ot mln last year it tied up lo b-d] that reluul ol new nupmenu thwestern trunk to shift box ings to be “We hav begun to ask Eastcrn lines for help,” M. J. Gonnley, director of the Ameria:mt Rlllw';y wrd o ull::lc:; ented, “but wal 'y &‘Pm e -bnft. the other rail- cars_for South- Right roads will ‘western watching the weather reports. If these hot winds keep up in the Oklnhnma- Kansas zone it may be that the grain crop, will be reduced to the point that won't concern any transport agency.” A side line on these weather reports is the movement of wheat prices on the exchanges, which has shown a definite :;:(:e&cey to ‘Ilddvnnfie in the expectation world’s wheat surplus m: - appear this year. = T Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md, April 12.—FPo- tatoes,. white, 100 pounds, 2.25a2.90; new, bushel, 1.50a2.25; sweet potatoes, barrel, 2.50a5.00; yams, barrel, 2.75a 3.50; asparagus, dozen, 1.50a5.00; beets, crate, 2.50a3.25; beans, hamper, 2.50a 5.00; cabbage, hamper, 2.25a3.25; car- rots, bushel, 1.25a1.65; cauliflower, crate, 1.50a2.00; celery, crate 2.7524.00; eggplants, cnte 2.00a5.00; lettuce, bas- ket, 1.50a2.75; kale, bushel, 50a75; onlom 100 pounds, 2.25a3.00; peppers, crate, '2.00a5.00; parsnips, basket, 50a 65; radishes, basket, 65a1.00; spinach, bushel, 35a1.00; squash, bushel, 2.00a 3.50; tomatoes, crate, 1.00a3.00; tumim. h.m 'r, 60a75; npplas. bushel, 1.00a 3.50; znpelrult, box, 3.50a6.50; oranges, box, 4.00a8.50; ‘strawberries, quan 15 Dairy Market. Poultry, alive—Turkeys, pound, 28a 40; old toms, 25. ‘hickens, young, 32a35; poor and thin, 23-25, old roost- ers, 16al18; Springers, 30a38. Ducks, 17130 old hens, 27a28; Leghorns, 208 h.Gmnen fowls, each, 50a75. Pigeons, pal Receipts, 1907 cases; nearby firsts, 261,; hennery, white, firsts, 272 a28; duck eggs, 32 l.3 Butter—Good fancy creamery, 36a39%%; lldlu. 31a32; store- pound, 18a19; rolls, 25a28; process, packed, 3112832 Geyman Foreign Trade Booms. ‘The foreign m &( G?rmu.ntyh la‘r“:‘h’c t year re volume the - ’Jf since outbreak of the World we are War. WASHINGTON, D. ©. stock. | BONDS IRREGULAR AT SHORT SESSION Market Moves in Narrow Range—Japanese Dollar Securities in Rally. BY F. H. RICHARDSON, Special Dispatch to The Star. NEW YORK, April 12.—Narrow and irregular price chmnes prevailed in to- day’s week end trading in bonds. There was no uniform movement even among the convertibles, which were affected by he same uncertainty in evidemce in the stock market. News that the Tokio Stock Exchange had reopened and that trading had been resumed brought a rally in the quota- tions for Japanese dollar securities, but it was unevenly distributed and_there was a good deal of nervousness shown. SATURDAY, APRIL 12, 1930. FINANCIAL. [ox v vore BONDS o excmuvea] || [RGINJAN ROAD'S UNITED STATES. (Sales are tn §1.000.) High. Low. Close. Sales. 2 10116 10116 101 16 Lib 4th 4% . USén1944..- FOREIGN. Bank of Chile 6%s.. Bank of Chile §%s. 1 Belgium razil Japanese 6'4s, the direct obligation of ! Brastl 8 the central government, were fraction- ally higher at 104, which is only slight- ly below the best price they have reached this year, Tokio 5)2s were down slightly and Yokohama 6s up about as much. The bonds of the public utilities were {rregular, with the best showing made by Great Consolidated Electric Power of Japan 6'%s. According to the latest financial statement this company covered charges more than three times over and this, together with the high vield at the market, brought support loday. Elsewhere in the foreign list, Cun- dinamarca 6':s were up a point from the previous sale, and Brazil®6!.s were in good demand. Approval by the State Department of the proposed coffee loan to Sao Paulo was taken as a favorable development to the market for Brazilian bonds generally. Railroad bonds were dull, with unim- portant price changes. On the side of advance Chicago & Eastern Illinois 5s and Southern Railway 4s were fea- tures. Boston & Maine 5s were off a point in the first hour. Manati Sugar 7%28 dropped 2 points, and there was no improvement in other sugar bonds. As usual, American Telephone & Telegraph 4'3s were the leaders in point of activity among the convertibles. More interest was taken in Philadelphia & Reading Coal & Iron 6s, in the af- fairs of which company important de- velopments are expected shortly. Washinaon Stock achange SALES. Capital Traction 55—$1,000 at 96. Washington Rwy. & Elec. pfd.— at 97. Ametican Security & Trust Co—2 at Washington Loan & Trust Co—5 at 500, 5 at _500. Barber & Rots com.—25 at 16, Lanston Monotype—4 at 125. Merchants' Transfer & Storage pfd.— 2 at 100. Mergenthaler Linotype—5 at 108, Peoples Drug Stores pfd.—10 at 108'5. AFTER CALL. Anacostia & Potomac R. R. 55—$2,000 at 830 Emerson Bromo Seltze Washington Gas 63 “A"—S$100 at 1021, Potomac Electric 5137 pfd—1 at 108!4. National Metropolitan Bank—10 at 375, 2 at 375. Bid and Asked Prices. BONDS. PUBLIC UTILITY. A"—5 at 313, Amer. Tel. & Telga. 4125 "33, Amer._ Tel, & Tele AT el & el cih tr. 3n. . Anacostia & Pot. R. R. 5~ Anacostia & Pol. Guar. 5 € & P Tel of VA, 53 Capital on R. R. 5. EIBE' aumurban 55 2 | Georgetown Gas 1st'Ss. Potomac Elec. cons. Eotomas Flec. & ross Wash., Alex. & Mt. Ver. cif Wash ., Balt. & Annap. 53 Washington'Ga Gas. 65 series A’ 1 Gas 65 series B Ry. & Elec. 45 . MISCELLANEOUS. Ross, Inc. Wa Wa: Barber | P t Stock | Waan’ ke “Coid Storase s Wash, Cons. Title 65....... STOC KS. PUBLIC UTILITY. ~260 it L1235 268 11312 \ngton Gas Light (18) olk & Wash, Sieamboat Potomac Elec. 67 ptd e |Pmnmlf Eieciric 514 pfd \Wash. Rwy. & Elec 7).’ 60 | & Annap. pfa NATIONAL BANKS. National Capital (14) N Bank ot Washingioh TRUST COMPANY. Amer. Sec. & Trust Co. (15) Continental Trust (6). Merchants’ Bank (6) Nert Bav. & Trust, (137). | Union Trust_(8g Washington Lonn & Trist (14 SAVINGS BANK. Bank of Bethesda (6§) Commerce & Savings (1 East Washington (12) Potomac Savings New (10). v. & Com. (7). Washington Mechi FIRE INSURANCE. Amerlean (12) Firemen's (8! Natlona)® Union’ (18 TITLE INSURANCE. Columbit Title (6h).. Real Estate Title (6h Title & Inv. of Md. com. (7).l. stclu.mzous Barber & Ross, Inc.. com % Chase Dairy prd. | &of el p E Merchants’' Tr. & Stg. pid. Mergenthaler Linotype (6n) Nat. Mtg & Peobles Brue Real Mg Wash. Medical lldl cnrn Worcward & Loth, pfd. (7). T eRtrn. sie exira ¥2127 extra. hdv; extra. extra. n3s cents extra. *EX dividend. Unlisted Department. BONDS. 5% extra. Asked. Army-Nags Club Ss Cesmos Club_ 4 Commercial Club Ist " Metropolitan Club 4148 . STOCKS. Anscostia Bank. o e Tns o ase Bail Gl wooflrl‘w-hnmon SIV Bank. ’0 TBEASU‘BY CEBTmCATES. ported by J. & W. Seligman & Co) PR Vet p 4748 June 16, 1930 100 lz-n m i"" 3ies Beptember 15, 1030, 100 192 ... 9930-33 mo:.n 100 1-32 100132 30 Hebiember 15, 3i%s December 15,1932 315 December 15, 1930.. 00 2-32 ‘The electric cutput of the Engineers Public Service Co. in March amounted to 162,150,800 kilowatt hours, an in- crease of 6.3 per cent over the corre- sponding of 1926, Bremen 8 Clnldu Sl 1953...00 ba 6% Czecho 85 1951..... Dantsh Murnio §a B, Framerican 7% French 7s. French T%s German E1 l’!%l Irish Free State 6s.. Italy 7 Japanese Japane: % Jugoslavia Bank 7s Karstadt 6s 1943. .. Kreuger&To'l bs ct. Montevideo New So W New So Wal Norway 68 1963 Norway 6%48s. .. Norway 631943 Norway 68 1944 Norway 6%s 1953.. Orlent dev 63 63. Orfent Dev'mt 63 63 Paris-Ly-Med 1 Peru 63 1960. Rio de Jan 8s 1946 Rio Grdo Sul s. Rio Gr Do Sul 8 Rome 6%s. Sao Paulo 1950 Saxon (PW) 7 erbs Cr Slov Utd Kingm 6%s 81, Uruguay 65 1960. Abitibl Pa&P Alleghany Cp legh: « Am Chain 6s33.... 51 10123 101 22 101 23 53 10712 10712 10712 100% 110% 109% 9214 1007 W 103% 10013 9l 99 51 97% 96% MISCELLANEOUS. 104 103 6 101% AmChem 63%scv 49 2 Am Int Cor 6%8 ¢5 Am Nat Gas 6348 43 AmSmit& R 1st b3 Am Sugar Ref 6 Am T&Tov 434835 635 : 65 Armour&Co 4%s 39 Armour Del 6% Assoclated O11 Beth Ste Bethlel Bush Term Bldg Certn-Ta 6% reu &ntle Copper 6s..... Col G&EI 68 May 63 Com Invest 5%8 49, Com Invest 6348, Dodg Donner Steel Duquesne ¢%s 67.. East Cuba Sug 1%s Gen Mot Ac Cor & Gen Pub Serv 5% Gen Stl Cast 538 4§ Goodrich Humble O &R 68 Humble O & R us- 111 Bell Tel ba. Inland St14%s 78, ntl Cement b !ntl Tel&Ts) Kan City P & Lt bs. Kendall 6%s ¢8 war Laclede G 638 63.. o Gas s £ bats, Manati Sugar T%s. 4 .| MeC'rmick KR bra New England N ¥ Edison 6%s. . NYG&EHPba. N ¥ Tel 4348, N Y Tel 63 ¢ North Am Edis bs.. No Am £4 6%s 63, Nor Ohio Tr&L és.. Nor States Pow 6. Pacific Gas & Kl bs. PacT& T bs 62 Pan Amer Pete Paramount 68 1941. Pathe Exchange 18 Philiips Petro Postal Tel &C 6 Pure O11 l"l Remington Ar ¢s 32 Rem Rnd 6% war., Richfield O11 6s 44, Sinclair Ofl 8% Stoclair Ofl 78..... Sinclair Crude 638 Sia Pive Line 6 Skelly O11 6% South Bell Tel Stand Ol N J Stand Ol N Y ¢4s. 102 10814 6 100% o NOBANG EAREOR AR LR RHI— G ERON ANRRCRB-PELRON CNEIEBLN VIR =N O 1 ] o o 3 105% 104% 103% 108 100 E6th 103 102% 101% 1011y 1078 100t Bl 101% 103% 18814 103 100% 954 il 105% 924 102 850 1035 1194 929 109 102 70 101% 100% 100% Y9% 105% 114 106% 995 106t 102% 102% 100% 101% 104w 101% 4 1024 2 103% 103% 100% 89 1013 104 190 103% 1043, Bales. Sug EsOrient7s... 2 Westn Union 68 51. Westn Unlon 6%s. Wickw Spen 1st. . Wilson & Co 1at 6s.. &Tés. Atlantio C L 43 B&O4Y%smcv'e0., 499 B&Ortbs. 1 Bang & Aroos Boston & Main Bklyn Elev. § Bklyn Man Bklyn Un EI 6 Buff R & Pitts 4% Can Nat 4% 54, Can Nat 4%s ‘57 Can Nat 4 '68 Can Natl 6s Oct "6y Can Nor 4 1936 Can Nor Can Nor Can Pae deb Can Pacific ctfs bs. Cent of Ga 68 C 69. Cent Pac 4s.... Ches & O gen 4%a.. Cl & O Corpn 6s. &O4%893A. Chi B&Q gen 4s 53 Chi&E 11l gn 68 61. ChiGt West 48 59.. CM&StPGen#8d.. ChiM&StP4%48C89.. Chi M&StP 4 %8 E. Chi MIISP&Pacts CMSP&Pa 115! Ch1 & NW gen ds... ChiN W ¢%s2031. Chi& N W con ¢%s 47 Cht Rys 6s... 1 Clev Term 4%8°77 32 Cuba R R 6s 1936 cf Cuba RR7%S..... Cuba Nor 54sets.. Den & Rio G cn s Den&R G W 4% Duluth S S & At i Erfe 1st cons ¢s, Erie Gen 4 rrl- v bt u Biis Silicaer Erle (Pa) elt tr Fla East C6s 74 Gr Trunk st db Green B & W deb Hav El Ry 68 62 Hud & Man Hud & Man ref T11 Cent 48 63. 111 Cent ref 4 Int Rapid Trans §i Int Rap Tr bs stpd Int Rapld Tra Int Rapld Trai Int & G Nora 11 Int Rys CA 6%sre. Kan City Ft S 4s... Kansas City 8 6 Kan City Term Lake Shore 3%4s. ... Long Is 5837, LehiVgen 4 2003.. L&N4%82003 ... Louis & Nash 6%4s. e RonamasmnBoe Annm Soe G Mil El Ry & L 6s 61 MStP&SSM 68 gtd. M St P & SSM 6%, MK &T 1st ds. MK&TorinbsA. MK & T adj 6i Mo Pacific gen Mo Pac 5s A €5. Mo Pac6s F 17. Mo Pac6sG 78 Mo Pac 65%s 49 evt. NOTex&MSEsA 0 0 w0 HomnSnS annnn~nl snBafiaesa 19 @ e Port RL & P bs 42. RTArk& Ld%s Rio G West el St L TM&S gn §: St L IM&S R&G 4 StL&SFplésA.. SIL&SFi%sT18.. St L & San Fr n 6s. St L&S F gen 6s 31. P » B Tex Ark FS6%s 'Sl Texas & Pacific 1st. Tex & Pac6sC 7 ‘Third Ave ad} 6 Unfon Pacifie 1st Un Pac ist rf Union Pac s Wilks B&E 1st bs Wis Cent gn 4 . SR OABNG BoA HNTD MRS AASDNANIT—a Do~ 103% 102% 102% 109% 874 98% 94l 98% 86% 93% 97 96 96% 101% 102% 997 116% 111% 86 3 103 4 100% 92% 102% 100 100 9614 9615 103% 92Y% 0% 6915 8614 123% 105 &« 10815 101% 31 96 89% 20% 101% 100% DIVIDENDS DECLARED NEW YORK, Aprll ll »— Pe- . riod. 5¢ i Capital Charter T Churngold Ci Fas] k/ ash Park As b 3175 Foster & Kleiser....d3¢ Ileite S Home OIl Lt Lanst Monozyne 178 anston Do. TR0 Bork 8 U S &BInt Ltd 2! Bl ° DPDODDDO: 0OOODOOD Capital Manage. Lanston Monotype. :25c Michigan Steel. Interis Tob Se T (London) 5% nes Hdrs. of . record. July 21 May 13 '.mn-:uu 1 uamoml. NET $1303 A SHARE Railway Repi»rls Larger As- sets and Many Improvements Along Company’s Lines. ‘The Virginian Railway Co. has is- sued its pamphlet report for year ended December 31, 1929, showing net income of $5,752,783 after taxes and charges, the same as previously published. This is equivalent, after 6 per cent pre- ferred dividends, to $13.03 a share on 312,715 shares of common stock, and compares with net income $4,23747 or $8.18 a share in 1928. Balance sheet as of December 1929, shows total assets of $160,523, 388 compcred with $159,949,847 at end of 1928, and profit and loss surplus $26.- 736,815, against $25313216. Current assets were $4,611,523 and current lia- bilities $2,012,914 as compared with $4 - 803,017 and $2,484,239, respectively, at close of preceding year. President Reviews Year. Charles H. Hix, president of Vir- ginian Railway, in his report to stock- holders, said: During the year an Interstate Com- merce Commission -examiner recom- mended that the commission find that the present and future public con- venience and necessity require the Vir- ginlan Railway to construct a proposed extension of its main line for about one mile over the Kanawha River to a connection with the Kanawha & Michigan Railway. Work on construction of the Guyan- dot River Line of the Virginian & West- ern Railway was continued, and con- tracts have been let for construction of 23.5 miles, of which 16.55 miles will be completed and put into operation during current year. At the end of last year there were 87 coal mines on the Virginian lines, of which 48 were served jointly with | the Chesapeake & Ohio and one joint- ly with the Norfolk & Western. Progress Along Lines. During the year five manufacturers of forest products, one manufacturer of poultry equipment, one flour mill, one wholesale oll distributor and one stone quarry located on the Vi n lines. At the end of yast year, 134.49 miles of first main track and 21.56 miles of second main track were elec- trified. During the past year, 17.59 miles of track were laid with 130-pound rail, replacing 100-pound rail, and making a total of 137.30 miles ‘of track now laid with 130-pound rail. Capital ac: count was charged during 1829 wits expenditures amounting to $835,716. E—— CHICAGO STOCK MARKET. By the Associated Press. CHICAGO, Apri! 12.—Following is the complete official list of transactions in stocks on the Chicago Stock Exchange High. Low. Close 45 45" 48 32 332 4 ed Mol 173 50 Aliled Producrs :: 50 American Equities - c 3200 Ass0 Tel = 50 Assoullei v Col 1l Pub 1il Securities. Pub Serv Del Pub_Serv A. 50 Cent & So 100 Ghi ity Con Ry 150 Chi City & Con Ry pid 30800 Chicago Corl 1 1350 Chicago Corp 700 € Hlect. Mie A 5950 Chicago Investors. . 100 Eddy Paper 3250 Electric _Househoid. | W00 Electric' Research Lab I3 & F 63 25 50 Emp G & : 400 Favnics “rimionink m & Connell.. 150 Houanille-Hershey A 1000 Houdaille-Hershey "B 10 Ind P 180 Insull U 10 of zna ser 100 Iron Firemen 2 i 51 53 Midiang: nit 32 Midiana Util 6% ‘A'p 700 Mo-Kansas Pipe Line 450 Modine 100 Morsan Lithagraph 100 Muncie Gear B. 150 Muskegon Motor Spe 130 Nat Elect Pow A Nat Leather. 110 Nat Pub Serv. 50 National Repub EEDEE ] X 200 Nat _Standar 100 National Termini 450 National Union Radio 100 Nobitt-Sparks r s f ‘.;1 57 anss (S b o 30225025 %0 Shemeta. steel 50 Stvver sieel. 450 81 Dredging ard Dredging 450« sumne Radio. 0) & C ‘Light’ A & Li n-vot Tnd B Shd SEEZICERENSNERS # lonbs £1000 Insull Uil 68 '40... 20000 Chi Clty Ry, B 2. 233 S S T AR, fe