Evening Star Newspaper, April 14, 1930, Page 14

'FINANGIAEL. FINANCIAL. ",:‘.':...I,’. :‘.w," 7 101% 1013 1013 THE EVENING STAR, WASHINGTON, D. C.,- MONDAY, APRIL 14, 1930. ‘Sales. High Low 104% 104% 104% .. 25 10013 1001 T NEW YORK STOCK EXCHANGE | [FONEIGNBOND LIST | (e oo BONDS o s |MACHNE AY PK FEATURES MARKET__ e e =i 1. COTTONCROP BRANGH AND CHAI K STOCK EXCH BANK UUIZ P”SHED O R Tieh, Low. DividendRate. Add%0 High Low ~Prev. 1930.—~ Stock and . h". Reynolds Spring.... 0 %x v i *|Dollar Credits Prove High| o8 % % 3:.(.:;& gaég" i% §° New Invention Likely to Sup- Light of Trading in plant Hand Labor in Bales— High. Low. Dividend Rate. Add 00 High. Low. Reynolds Tob B (3). 104 14 104 14 104 14 Phillips Petro 6%4s. 14 Small Turnover. Southern Fields. Sales. High. Low. 3: 6% 314 Kelly-Spring Tire... 6 5% :‘l:%“:dm:)‘“"li". House Committee to Hear| 3% rande 1079 1079 1079 Pillsbury F M 6«43 11111 1117 117 Por Ric Am Tob 8s. Rossia Ine (3.20. More Witnesses on Pro- Postal Tel &C %o 2 Royal Duteb ( l_l: ':I ll‘uru(fl). posed Changes. Prassed 8tl Cur Pub Serv G d%%l 'y P 8t Joseph Lead St L-San Fran (8} 8t L-San Fran pf(6). Pub Gas BY JOHN F. SINCLAIR. &pecial Dispatch to The Sta: NEW YORK, April 14.—Branch, or chain, banking—is it good or bad? Its good points are being presented this week to the House committee on bank- ing and currency. John W. Pole, con- troller of the currency, and Gov. Roy 32 Leh Val Coal of (3). T0% Lehigh Valley (143%) 2 Sears Roebuck (33%) Second Natl Inv, BY F. H. RICHARDSON. Special Dispatch to The Sta: NEW YORK, April 14—With an ir- regular trend in the convertible group and little interest manifested in do- mestic investment securities, the com- paratively active trading in foreign dol- Pure O1l §%s '8 Remington Ar Rem Rnd 6% Richfield O1l 6» ¢4. . Sinclair O on Crt Sin Pipe Line Special Dispatch to The Sta CHICAGO, April 14—A development that may do for the cotton-growing sections of the South what the mechan- ical reaper did for the Nation's grain- growing areas is foreseen in the re- port that the principal manufacturer of farm equipment may soon have per- r;clted a practical cotton-picking ma- chine. lar credits today proved to be the B high light of the bond market. These moved higher or lower in their national groups, reflecting different causes. United Kingdom 5'%s dropped frac- tionally, owing to nervousness about the British budget. This, however, when announced after the close of the Lon- don market, proved a disappointing document in that no surprises were in- cluded in it. ‘The increase of sixpence n the stand- | pol¥IS S8 o A. Young of the Federal Reserve Board, both branch bank champions, have 8l gg* gh"' F.'l;‘l “lrfi 1 ready appeared and suggested Congress 91“ u" &M ’ul'l) 74 amend the banking act to grant branch- 352 Tl 4 banking privileges within certain definite 2oLt Hoopmptive e 14 ki~ b 2% Losws, Ine (8)seser. 21 How_large should these areas be? 85% Loew’s, Ino “‘.-‘)~ 1 Gov. Young thinks there should be 37 815 Cote The o G districts in the United States. Some o want branch banking confined to cities, Tt T O TR others to States and others to the Fe R B S e e 48% 384 LouGA& EIA (1K), 213 Southern Pactfio (6). ard income tax was not unexpected. eNqucition¥ssts: (0 Daliiath Dok 13804 128 Louls & Nash (1) 1 A Eutbers Ky ) P e s o v anexpected. | Rrast 6340 1927, 3:‘& vf,h"hrfr brx:"mhgfifl-x e 82% Ludium Bteel (3) 4 D I ticipated. A reduction of £11,500,000 S o aTloned o180, 93 MacA & Forb pf (6). 1008 on the " estimated amount needed for | L8R oo Tomorrow E. W. Decker of the North- . e e o on NosHuEdE Tl . Jorat 35 M w- . good i o o oaacn tny tree Daenal 20 Mackay Cos pf (47, 10 Sparks Withngta(1). Belgian, Italian and Fench issues were Resen’;}e districts, with combined re- 61 McKeespt T P(143) Spear & Co... . firm or fractionally better. French Ts sources of $480,000,000, will appear be- 25% McKesson & Rob (3) Spear & Co pf (7 and 7%s again indicated in small gains Festiend B 41% McKes & Rb pf(3%). Spencer Kelg (1.60). the favorable moves in Paris to do away e e O 14% MeLellan Sto; Spicer Mfg S with the securitles tax. This is now a | Copenhazen 414 63 e e e 70 Mack Trucks (8 Splegel-May-8t (3).. definite part of the program of the | Copenhazen Bset.. ol e b 32 Macy(RH) & Co(n3) Stand Brands (134)- Fiench goverament CRERIBUR: . .o e A oD 45 Magma Copper (6).. Stand Gas & £ (3%) Notwithstanding the announcement | Czacho fx 1951 Rl sl R ] 11% Madison Sa G (1%). Stand Invest Corp. .. that four small banks have failed in | Czecho fx 1852, ©f'$450,000,000, all'in' the ninth Federal 8 Mallinson & Co Stand O of Cal (23%). Toklo during the past week, Japanese | Denmark 4%s. ... Reserve district, will give his views on L meneic Stip OmecaN) Toklo during the past week, Japancge | Denmark 4its. their recent losses. Japan 61,s, Tokio | Denmark s ‘Wednesday. 25% J Stand Ol of Kan (2) 2 Then Robert O. Lord of the Guard- Soi mas Eievmual Stand Ol N J (13).. 55 and 5158 and Yokhohama 6¢ all ad- | Dutch Rast 147 vanced fractionally. Duteh Fant 1 8e 8. fan-Detroit group, which includes 31 51k Manhat Elev gt banks in Michigan, representing aggre- 20% Man Shirt (3)... Considering the conditions in Japan | K1 Salvador 8s ¢8 the decline in Japanese dollar bonds| miat 7s ex war 48. . gate resources of $510,000,000, will pre- 3yi4 Marlin-Rock (14%).. sent the case for group banking to the 20% Marmon Motor (3). . Sterling See pf(1.20) from the high of the year has been | minlana 6% committee. 3T% Mathieson Alkil (3) Sterling Seo ov pf(3) - quite moderate. The maximum loss in | wniana s f 8 %) “|any one of the group has been 3'% |minland Ts Webster (4). points, with most of the other public | Framertcan Studebaker Co (5). utility’ and municipal obligations down | preme s | 4 Submarine Boat 115 to 2% goln'.s. This s not much | French 1%s Sun Oll (12 more than the reaction from fhe highs :'"' 0:"';: .. of March that have taken place in the | G¢rman Rank s '3 Flonieals i members of several of the strongest e osiss: groups of continental European issues. B tcion 3," b The report of the American I. G. el Chemical Co. for its first filscal year Telautograph (11.30) shows interest earned two and one-half renn Cop & Ch (1), « times on the 5'; per cent debentures. Texas Corp (3)..a.s The company, on March 31, had in|!ri*h FreeState5s. Tex Gulf Sul (4).e cash, marketable securities and short- | I Texas & Pac (5)... term loans, $15,795,000, or well over 50 | I'allan Puh 8 7s Tex PC&Ofl.... per cent of the debentures now out- | [APanese és Texas Pac Land Tr. 3 % Y standing. Tapanese 8148 Thatcher Mg (1.60). In today's new issues there were sev- | Tuoslavia Rank 75 Third Natl Inves (1) eral State and city bonds at prices that | Karstadt €= 1943. . Thompson J R (3.60) indicate there has been no lowering of | Kreuger&To'l 6s ot Thompsn Prod(2.40) quotations in spite of the reaction in Thompson Starrett. the general bond market from the high Tide Water Asso 60c. level of last month. The two foreign issues were both affiliated with Argen- tina and represented $15.675.000, which | New S0 Wales &8 follows last week's $50,000,000 of six- [ Nord 6%s month notes. It is understood this lat- | Norway f= 1963 ter business was taken at almost no | NOTway ks . profit by the issuing group. z:::; :: :;:: ) S Norway 614s 1952. Washington Stock Exchange onietdeves SALES. Paris-Ly-Mea i . 55—81, Paris-Lv-Med 1 Pcrltgg‘n:c Electric Cons. 55—$1,000 at Pt Oreans 9. Washington Gas 6s B—$1,000 at 10515, | Peru 6s 1960, . Barber & Ross 6',5—$500 at 91. Pern 6 1961 g Potomac Electric 6s 1953—$1,000 at | Poland 8s 40 10715, $1,000 at 1071, $1,000 at 1071%, | Poland 7s tret: $1,000 at 10712, $1,000 at 107%5. Poland 8. | American Secs & Trust Co.—10 at 425, | Porto Alezr Wugmnon Loan & Trust Co.—32 at|Queensiand 500. Rhinelbe Un 7 Lanston Monotype—10 at 129. Rhine Wat EP 6s 63 Mergenthaler Linotype—10 at 108. Rhine West 60 62 Rhine Wet EP 78 AFTER CALL. Rio de Jansiro 6% Potomac Electric Cons. 55—3$1,000 at | Rio Gr do Sul 6s 48 102. Rome §%4». Washington Gas 6s “A"—$1,000 at 103. | Capital Traction Co--10 at 7%, 10 at | ea pama ene. .. 113, 10 at 713%, 10 8 77, 10 &t 76%. | aecen (PW" 1o UNLISTED DEPT. Sefne Ta 42 Munsey Trust Co.—7 at {62'%. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Skelly O1l 5% 8o Por Rico Sug 7s. South Bell Tel 6 Southwest Bell Stand OIIN J ¢6. Stand OII N Y ¢ %s. Tenn Cop 6s B Tenn ElecPowés 47 Tex Corp ov 68 1944 United Drug 68 63. #61 | US Rub 1strt #6% | U8 Rub 1% Herbert F. Perkins, president of the International Harvester Co., said in his remarks accompanying his annual re- port that “constant progress is being made by the company's engineering staff in the development of cotton pick- ers and strippers, and recent field tests indicate that these machines should soon become of practical benefit to planters.” Cost of Harvesting. While officials of the Harvester com- 92 || DG FoOwS EL pany decline to expand on this state- 100% P ment, it is learned definitely that they 1005 | ! intend and expect soon to produce ma- 1041 | War Quinland 6s '35 chines that will replace hand labor in 951; | Warner Sue 18 41 gathering the cotton crop, either by 9ov; | Western Eleo 6s. . picking or by stripping. Under present “| Westn Union 68 61. 34 methods hundreds of thousands of Westn Uhion 634s. 4 Negroes in the South find their prin- Wiison & Co 1 cipal employment in cotton picking. Win Repeat AP T It is figured that cotton harvesting Youngstn 8 & T 1024 by hand costs from 20 to 40 per cent of the value of the cotton harvested. RAILROAD. Some experts who have studied the 1 problem of machine picking and its progress toward solution estimate that the cotton-picking machine of the fu- ture should do its work at a cost vary- ing from 5 per cent to 20 per cent of the cotton harvested, the variation be- 100% ing due to the size and capacity of the 1084 mechanical picker, the character of the 102% 25, | crop and other factors, 1037 The stripping method of cotton har- 109% vesting—better known as “snapping” in 931% the cotton country—is of less impor- tance than picking. It is estimated that only about 10 per cent of the cot- ton crop is adapted to stripping or “snapping,” and whether stripped by hand or by machine, the initial product carries 50 much leavage, trash and dirt that mechanical cleaning is required. “Snapping” cotton by hand costs from 15 to 30 per cent of the value of the cotton thus harvested. Students of the cotton-harvesting problem estimate that 2 cslntlsnlafiory mecu}nrnlcll stripper will N reduce this cost Tom 11, to 3 per it o cent of the value of the crop so gath- Car Clin & O 65 §3. ’ G Cent of Ga 68 C 69. Cent Pac 4s.... Ches & O Corpn Ches & O gen 4% Ch & O 4%8 B 1995 89 Lehman Corporation 13: AN NN AN ITRNWNN R SnmanOeo Solvay Am Inpf 6%. So Por Rico Sug (3). Southern Cal Ed (2). o n®3 B Atchison ad) Atchison gen Atch deb 414843, AtlanticC L 18t 4 AtlantieCL 4%s 64 Sterling Seo A. » These bankers will be followed by & George P. Rand of the Marine Mid- ey oant i) land Corporation of Buffalo, which 26% Melvilie Shos (3)., controls 18 banks in New York State, 151 Mengel Company (3) eomnasg%sorag resources of more than 2314 Metro Gold pt (1.89). 600,000,000. board. S ater the real leader of branch bank- e o ing in the United States, A. P. Gian- 53 Michigan Steel (3% nini of California, and his first assist- 23% 31a-Cont Pet (3) ant, James A. Bacigalupi, will give 7 Middle States Ofl their opinions to the committee. 37 Midland Steel (3) After the branch and group banking 12% Minn Moline Pwr. champions are through those in op- 1% Minn & St Lout: position to these new banking trends 46% Mo Kan & Texas. will have their say. Mo Kan & Tex pf(1). The stronger undertone in_business, e led by the new drive in the motor in- e B dustry, may have something to do with 48% Monsanto Ch (g1%). the reviving interest in the stock 36% Montgomry Wrd (3) market. 3% Moon Motors. ...... Already 60 per cent of the ground 58% Morrell & Co (4.40).. lost last Fall has been recovered. 1% Mother Lode (40¢c) Building construction, too, 15052::235 4% Motor Meter G& E.. Tide Water Oil pf(6) P avied in Marcher 459,119,000 —than L 3 : bt aten ot g aw! —$459,119 2 otor Wheel : imken Roller (3).,. in any month since last Augél;t. ncc&l:}]- 12 Mullins Mfg. Tobacco Produets. .. ing to the F. W. Dodge Corporation. 57 Mullins Mfg p! Tobacco Products A. ‘The increase was lbtg?‘\‘ Cel:_ .f.% But 18 MurrayCor(b2%stk. Transcontl Oil (30¢) RWhile the total for the first tnres RN ot R monchs——sl,l(]&%:,l}gh}i‘se c:::\;;on s 9% Natl Bellas H Tri-Cont Corp pf(6). Per cent °5t 1620, construction in the 55 Natl Bel Hes pf (7). BECKRIIRs L8R -« ing period o hould equal and per- 71 Nat Biscuit, n (2.80). Twin City Rp T (4) s bxeedthe Tecord of the second 604 Nat Cash Reg.A(14). Und-Ell-Fianer (8).- haps i year 45% Nat Dairy (32) Union Bag & Pape! quarter of last year. 20 Natl Dept Sto: 1 Union Carbide 13.6! . 0) o 90 88 Natl Dept St 18t (7). 120 Union O1l of Cal (33, One billion dollarsi—that's what the | 30 . 29 it United States can expect to save in the next six years, by signing the Lon- Unlon Easine uf cb).. don naval parity agreement, thinks Utd Alrcrafi& Trans 11 ident Hoover. e H cost the United States Gov- Utd Atrcraft&T pf 8 ernment from $550,000,000 to $650,00 32 NatTeaCo (3) 000 in the mext six years for replac 26% Nevada Copper (3).. ments and new constructions, as com- % Newton Stest (8). pared to $1,400,000,000 to $1,600,000,000 L U I “under the Geneva parity basis, to A N AL e which the world was steadily drifting” e L) s Altogether the world will save in six R Ry E.u $2.500.000,00€é ;hlm dlh:! ':::l: 35 . N Y Dock. roductive enterprise an lu';?\ull)us to world przperuy will result, 831 N Y Dock pf (6) suggests President Hoover. BRuroBon memwanaaZonmm 1 FOTYOC - P Bklyn Un El 68 60. . Buff R & Pitts ¢ 4s. Bush Term con b, N3 nmwee - - ° onoa@-Snavan The economic importance of the me- chanical cotton picker and stripper is indicated by the fact that the United States produces annually about 15,000~ % | 000 bales of 500 pounds each. The cost of hand picking varies from $15 to $30 a bale. Two Lundred pounds a day is a good record for an expert picker's production. It takes about three pounds of cotton as picked, seed and all, t- yield one pound after it is ginned. (Copyright, 1830.) o 33 Chi&E 111 gn b8 Chi Gt West 48 69. . CM&StPGen89. Cht MIISP&Pac5s7b 44 CMSP&Pac ad§5303172 Chi & NW gen 10 Chi & N W con ¢%s 26 Chi& N W 17s.. - - Baltimore Markets - Special Dispatch to The Star. BALTIMORE, Md., April 14.—Pota- toes, white, 100 pounds, 2.25a2.90; new, bushel, 1.50a2.25; sweet potatoes, barrel, | 2.5085.00: yams, barrels, 2.75a3.50. | asparagus, dozen, 1.50a5.00; beets, crate, 2.50a3.25; beans, hamper, 2.5085.00; carrots, , 1. ) crate, 1.50 82.75; kale, bushel, 50a75; onions, 100 g%lands‘ 2.2?33.0b; )x(»ppers. mu.d‘:,:o- Dl & Hea e 10 o g .00; parsnips, basket, 50a60° ra es, e e ey basket, 65a1.00; spinach, bushel, 35a Den & Rio G en 4 1.00; squash, bushel, 2.00a3.50; toma- Den&R G W 438 38 toes, crate, 1.00a3.00; turnips, hamper, e L 60a75; apples, bushel, 1.00a3.50; grape- DRG & Wat 68 7i fruit, box, 3.50a6.50; oranges, box, 4.00 Det United 4% a8.50; strawberries, quart, 15a45, Duluth S § & At Dairy Market. East Tenn Va&Gabs 104% Poultry, alive—Turkeys, pound, 28a Erie 1st con 1 w5 140; old toms, 25; chickens, Springers i Erle conv 48 B. 4% | 32a38; young, 32a35; poor and thin rie Gen ¢s..... | 23a25; old_roosters. 16a18; old hens. Erie cv b8 67. 27a28; Leghorns, 20a24; ducks, 17a30: Erle 5s 1930 w guinea fowls, each, 50a75; pigeons, pair. Erfe conv £x 7 3 30a35. Erie Geness Eggs—Receipts, 1.403 cases; mnearby Fla East C | firsts, 2612a27; hennery white firsts, 28: h o .. | duck eggs, 32a35. Gr "';[l ".' . | Butter—Good to fancy creamery. Grand Trunk 18 | bound, 36a39'5: ladles, 31a32; rolls. Ga& Ala 1st 58 45. . 25a28; P Gt Nor 434876 D. 25a28; process, 31';a32. Great Northn 1st §» 20 Hay and Grain Prices. Gt Nor b%s. Wheat—No 2 red Winter, exports. Gt Nor gen 7s. 11y H‘;: }xa fi flidx SWinter, garlicky. spot. 2 11; April, 1.15; May, 1.11; No. 3, Husa ::: - 53; % garlicky, no quotations, 4 Corn—No. 2 domestic, yellow, new, 11l Cent 4% 8 93a94; cob corn, new, 4.65a4.75. S Oat—No. 2 white, domestic, spot, 5515856, No. 3 white, domestic, spot, 54a55. Rye—Nearby, 80a85. Hay—Receipts, 21 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 1800 to 22.00 per ton, according to quantity and condition, receipts by truck supplying most requirements, Straw—Wheat, No. 1, per ton, 9.00a 10.00; oat, No. 1, per ton, 9.00a10.00. Live Stock Market. Cattle—Receipts. 300 head: light sup- ply; market steady. Steers—Choice to prime, none: good to choice, 12.00 to 12.55; medium to good, 11.00 to 12.00: fair to medium, 10.00 to 11.00; plain to fair, 9.00 to 10.00; common to plain, 8.00 to 9.00. Bulls—Choice to prime, none; good to choice, none; medium to good, 8.50 to 9.00; fair to medium, 8.00 to 8.50; plain to fair, 7.50 to 8.00: com- mon to plain, 7.00 to 7.50. Cows— Choice to prime, none; good to choice, none; medium to good, 7.50 to 8.50; fair to medium, 6.50 to 7.50; plain to fair, 5.50 to 6.50; common to plain, 4.00 Heifers—Choice to e. 28 mn enEmne© 70% Natl Surety (6) o S To- P4 8 redusnnalninan SavdSvancnantr~STa3 Zullanamnd W.oo 8 Utd Gas & Imp(1.20) 229 Unit Piece Dye W (2) United Stores A, Udt Stores pt. 13% N ¥ Ont & West U 8 Expr 5 2 N Y Raflways pf. U 8 & Foreign Secur. % 1k NYstate Rallwaya. U 8 Fretght "o’:"'i)' 110 N Y Steam 18t pt ( 8 Ind Alcobol (17). e e brenci of e United | M7 13% North Am Aviation. & Loataor. States Department of Commerce, sug- g?“ Nosb ::";‘?},"" I : T Toho Fl Pow 68 ests that a glider with a low-powered ! - pe Ty (2). Amer, T 4125139 - | Toho EI Pow 78 . rtunity to the per- 100% North Am Ed pf () Pipe 1st pt (1.30 Am. Tel & Tel. ctl. & Tokio bn Ton who wart. to By, but who does not 45" NoGer Lioyd (3.43). Realty (6)...+.. Amncontis & 5 "B % 4 Rubber, 3 C. P. Tel. of Va. 55. ime or the money to take a ceeee / 8 AlnIng comse. of who cannot afford RuberTatpE sl 6 1 sl Traction B to buy a high-priced plane. By flying - meit Ret (334). Georgetown Gas. 1 lider, it is said that one acquires b. . Steel (7)... Potor ec. cons. 5% 102 Warsaw 7s £2. “itie Teel of the air” and learns some U S Steel pt (7 i u B s e e At £ - | Yokoham: of the more rudimentary principles of air_control. Germany has developed the glider more rapidly than any other nation, be- The successful glider flight of Capt. Hawks from San Diego to New York opens up vast possibilities for popular- izing flying. Shineyetsu 614 Sofssons 68 Sweden 54 » 11td Ringm 6% Urueuay 8« 1960 Vienna € 52 caaccaacas nnannnnn MISCELLANEOUS AbItIbI PaRPBS"83 4 R7T 86N Abrama&Straus 6%e 3 101% 101% Alleghany Cp 6s 44 12 103 103 Alleghany 5= 7103 . 102% Am Agri Che: 5 104% Am Beet Sugar 6s8! 1 83 85 AmChem 6% scv 49 22 4 107% Am Int Cor 6%s 4 1R Am NatGas 64843 4 Am Smit & R 1st b» 20 STOCKS. Am Sugar Ref 1 PUBLIC UTILITY. Am T&T cv 4% s 3184 Amer. Tel. & Telga. (9).. ;... | Am Tel&Teleg 5s'65170 Capital Traction Co. (6) 6 AmT& Teltrbs.. \ashinston Gas Light, (i} AMTA&TatEn. ., 2¢ E;é’{é.‘l,’fic e Am Tel & Tel 6% .. 0t o] 314 Olivr Fr Eqev pt(3). 2% Omuibus COrp...... 4 U %8 OrBlevaioe i) S5 3in Utl Pwrals & (edb: e treaty Germany| 0% 6 Otis Elevator n( wr o ?&’i&’fi?fifufih e{rg:cflyms glnnes wit 126 118% Otis Elev pf (6)..... Vadsco Sales Corp. motor power. But Germany has shown| 38% 30 OtisStee] (3%)..... Vanadium (t4)....0. the world that the possibility of serlous 7 PacificCoast...... Vick Chemical (3%). & accidents is greatly decreased by early 17% Pacific Coast 18t p. Virginia-Car Chem. . training in the landing of gliders. 52 Pacifio Gas & & (3. Va El & Pwr pf (7).. 20s Alrplane manufacturers do not oppose 72 Pacific Lighting (3). Vule Detinning (4).. 30s the “glider movement” in the United 1 Pacific Oll stubs.... Vul Detinning A (4). 508 States. Some of them believe it is the 15% Packard Motor 11). Wabasn. best way to make the American people Wabash p i sir-minded and airplane travel popular. Waldort Sysum (1 , 1930, by North American News- L ber Alliance.) COPPER MARKET TEST IS DUE IN SHORT TIME Bpecial Dispatch to The Star. NEW YORK, April 14.—The test of the copper metal market— that is, whether the price can be held at 18 cents—will come within the next 60 days, and perhaps earlier. Statistically, the position of the metal is somewhat better than it was a month ago, but the strain of small profis, which has continued for nearly four months, is beginning to affect producers when considering their current _dividends. This, naturally, is reflected in the price of copper stocks. Anaconda, Cerro de Pasco and Kennecott Copper are now i all selling on about a 10 per cent yield o basis, which, to a considerable degree, 333 Pillsbury Flour (3). discounts any change in the dividend 45 Pirelli of Italy(3.14) rates, 60 Pittsburgh Coal..... There is known to be a large short 97% Pittsburgh Coal pf.. interest in copper shares which at pres- ent does not show much disposition to pany. cover, although it bought back a good 27% Peor & Co (B) (3)... many stocks at much higher prices, 12 P Rican Am To (B).. when the metal situation was more 97 Postal Tel & C pf(7). alarming than at the present time. 10 O1l & (3, POTATO MARKET. Sres Depattment. of - Agrieulture) Stats artment of culture) — Potatoes 111 cars, Sunday, 44; on| 110% 107% Pub Svc E&G pf(6) track, 383; total United States ship- 81% Puliman Corp (4)... ments, 825 c-rs.h()n old stnc': mn;::c 2111:: anuofil:::’lnnr. steady, trading slow; Wisconsin, sac| Pure Earie Wundy whites, 2.80a3.00; Idaho, sacked T4% Purity Bakeries (4). Russets, 3.75a4.00. New stock, market 34% Radio Corp. slightly weaker, trading fair; Texas. 53 Radiopf A ( sacked Bliss triumphs, 4.00a4.25; mostly, ) 83 Rossia Ins.. 415 to 4.25. 3% SoCalEd... by " Sales of Stocks on New York Exchange. .FOREIGN EXCHANGES. | O ot hana (16452 1 % BiBE0500 | 12:00 Noon 1 1 + 2.785.000 2:10P M otations furnished . B Hibbs & Co.» | ~00% 92 Reming-Rnd 1st (7). ki nom:'n':ola Selling checkr | 14% 10% Reo Motor Car (.80). Dividend e AR . vai a; 821 72 Repub Ir & Steel (4). 1 78 | PR P adine less than 100 Shares. ¢ ARty oo, pound % 78% 77 Replron& Sti(new) 15 784 | in"stock § Bayable in scrip. 1Flus 9% ia stock. e s & 304 107 Replra B of 1), R Py e s Ry e HORE riin, mark. 143 1 D stock in "stock *'¥ Piua 3% in ¢ fififfi 140 1304 ReyncldaMoetala s 18 34n ‘e 3 IR RE i u‘ul o T B exira. 0% exita. i Atbens, TR R ey T T S T o | T avidas BANKERS OF MARYLAND _|vilbouit o sucke O3, , | = BANK CEECK PATMENTS e oo h. Gas 6s, series B Rwy. & Elec. 45... MISCELLANEOUS. Barber & Ross, Inc., 63 Cham. .V . C. Mfg. Wash, Cons. Title 65. Int & G Nor bs 1956 Int & G Nor 1st Int &G Norali Int Rys CA 6%sre. Kan City F't 8 4 Kan City S 3s. Kansas City 8 Kan City Term 4 Lake Shore 431 414 Panhandle P& R. 47% Panhandle P& R pf. 48% Paramount-F-L (4). 25 Park & Tiiford (33). 234 Park Utab...cecoves 17% Parmelee Trans 13 .. 28% Patt Mi oo 7 3 J Warren Bros (new).. atino Mines (a2. 2 w Fy&aripecd). 6% Peeriess Motor Car.. Webster-Eisenlobr. . Sotoual Cagtial (10) 63 Ponnayc(;l l‘)‘(l‘)" Wess Ol & Snow (3) S?”“fi':."‘? [SUN 93% Pen (J C) p! . WessO&Snpf (¢).. & . 26% Penfck & Ford (1) Eiery - Amsriosn 40 6% Penn Dixie Cement. . Lincoin (12}’ 72% Pennsylvania RR(4) 150 Pere Marquette (18). 38% Phelps Dodge (3)... 11% Phila& ReadC&1.. Louls&N: LENIY Louis & Nash § Louts & Nash 7 Man Ry 1st 45 90 Market St 7840.... Mil £ Ry & L 68 61 M St P&SSM cn 4. M St P&SSM 6% Minn StP & SSM M St P & SSM 6%0. MK&T4%s78 MK&TprinbsA. Beth Steel rf Bethiehm Stl pm Bush Term Bldg s Certn-Td 6%s rets. Chile Copper 3 [ Seltna e s Natl. Bank of Washingion TRUST COMPANY. Amer. Sec. & Trust Co. (15)... 424%% st 123 - o ® Con Coal M4 ConGasN Y 6%s. . Consumers Pow &s. Cuban Am Sugar 8s 10% Phoenix Hoslery. - o T e A N e atl. Sav. Union Trust (8g). Washington Loan Westinghse E&M (5) Westhse E&M pf (5) Weston El 1ns (1) Weston El A (2). Westvaco Chlor (3). White Motors (3) White Rek MS( 1 medium, 8.00 to lain to fair, 7.00 to 8.00; common to plain, 6.00 to 7.00. Mo Pac 6%s 49 evt Fresh cows and springers, 50.00 to Mont T°rm ref 5 llg.:fl. P eep an ml Receipts, 850 NOTex&MsB.. heed; light ' supply, market higher, sheep, 2.00 to 6.00; lambs, 6.50 to 11.25: Spring lambs, 13.00 to 16.00. Hogs—Receipts, 3,000 head; moderate | supply, market steady; lights, 11.00 to 111.30; heavies, 10.00 to 10.50; medium. 994, | 11:00 to 11.30; roughs, 7.50 to’ 9.35: 7 §11g};; pigs, 10.25 to 10.50; pigs, 11.00 to Calves—Receipts, 750 head; moderate :gl)s%ly, market lower; calves, %.00 to Bast Cubs Sug T%s - Gen Pub Serv 5%4s. Gen Stl Cast 6% s ¢¢ Goodrich 6% . Goodyear Bs rots. . Hoe & Co 8% Humble O & R g Woolworth (3.40) Worthington Pump.. Wrigley Wm (4).... lutabia Title ih). Zellow Truck & C. Soal" Retace Hule Yellow Truck pf. Title . of Young Sheet & T MISCELLANEOUS. Zenith Radio........ Barber & Ross, Inc.. com. Chevy Chase Dairy pfd. ( RIGHTS EXPIRB Col. 8and & Gravel pfd. (7) Am Roll M." June 1§ 3 r_Mi ChiR1&P....May ) Int Tel&Tel. . May 1 Pac aa 22222222272 roloro 23R Surn anSnorBnnRanhn neSlunacns 000000 eRPprpR - 7 g o Sales. High. Low 3.68 StP& KCShL 4. & 97 97 91 19 106 106 925, » Ees 222 2Z22 §=x PROT I~ U0 —OUVE T PRSIVTSTSE- TSP STOT- PURTHN L P TS SP al Federal-Amer. Co. com. { Federal-American pfd. g g ig e B ‘ntl Tel&Tal 6868 38 Kan City P& Lt 5 1 Lackawanna Stl 6a g 22222 xsor 113% 817% 90'», 101% » eDmay o B Hoon NOAINOARSHoe Corp. (1 Wash. Mech. Mtge. com. {t Wash. Medical Woccward & Loth. 109 1% ¢ s [ Panna con 4% Penna ‘;fil 197! " ferm Asso 8L Tex Ark FS b Y%s T | By the Associated Press. o PLAN FOR CONVENTION | Jnes et e Siae wien| Volime of AmeFican business trans-| NEW YORK. April 14 (P.—Tt was PMRLAPS . crown.. actions, ac recorded in bank check |reported in Wall Street today that Na- Stockholm, crown. ... Special Dispatch to The Star. it was more important for bankers to in . RIOG W 18t 2 keep abreast of than now,” Mr. | Payments made in leading cities for last | tional Air Transport, Inc., controlled by Rio G West ¢l — BALTIMORE, April 14—A program | ‘Fh y said. “The two days spent at | Week and comparable periods, was re- | the Curtiss-Wright interests, has offered 1 5% | P TATK& L 648 TREASURY CERTIFICATES. |is being arranged for the annual con-| the convention, therefore, should be well | Ported as follows by the Federal Reserve | to exchange a large block of its stock . i 1 o | vention of the Maryland Bankers' Asso- hile.” Board: for the entire capital stock of Eastern 100% St L IM&S gn SRy o & W Seligman & Qo) ch will be of more than| The ok sodine/doril 9, Alr Transport, Inc., subsidiary of North I 13 106w June 16 1830...... 100 12-32 100 1 to James W e ba American Aviation, Inc. Eastern Air . 10 102% s Beot. 15 1 1% 1 > operates air mail lines be- L1 102% 1 terest, Eid Bl BELER TRt gy et i - - O Pere M 4%s 1980 Virginis Rv 1t §s. Vy Ry & P bs. . 100% 9% 89% West Maryland ¢s 1% West Ma 5348 17 Looxr ¢ 52 nBuRurms @ T 8% 98y 81% 81 e