Evening Star Newspaper, April 15, 1930, Page 15

FINANCIAL. CURB ISSUES DROP T0 LOWER LEVELS Stock % 50% B0 Low. Divident i 6% 80 8 7% T1% Coppers Depressed by An-| i T astitbis i “4 TR T e 3t a4 I -" e e e ot . Y Afr Invests AL 8% nouncement of Cut in Red ‘fncer o Metal Prices. FINANCIAL. k¥ THE EVENING STAR, A—15 RESERVE BOARD HAS NEW EXCHANGE PLAN Details Announced for Handling Canadian Currency to WASHINGTON, D. C, TUESDAY, APRIL 15, TRANSACTIONS ON THE NEW YORK CURB MARKET Low. 3'88. Ull Low. lll 19 119 42% 8% 8% 1930. The Federal Reserve Board an- nounces that a plan has been worked out and will be put in operation for handling Canadian currency deposited with Federal Reserve banks at a mini- mum of the actual collection charges lneurred by them. The discount on Canadian currency brought into the United States by travelers has frequently ranged as high as 10 and sometimes even as high as 20 per cent at places remote from the border line. This is regarded as ex- cessive and has given rise to some feel- ing in Canada, especially as United States currency Is generally accepted at par in Canada. The Federal Reserve Board has taken the subject up with the Federal Re- serve banks and they have agreed to offer their facilities to member banks for the collection and conversion of Canadian paper currency into United States currency at the current rates of exchange. L_“T"l;lnl method o;bd mrr:}n& Canadian le; rve banks will, it 1. hoped result in substantial reductions in the cost of collecting this currency. 238% 11% Alr InvIncevpr.... Alabama Pwr pf (6). 75! 27 imp O1l. Can (50e) . Imp Tob, Can (26¢).. Ind Pipe L.n (12%). Ind Terr Illu Ofl (A) Ind Terr Illu Ofl (B) e BY JOHN A. CRONE. Epecial Dispatch to The Star, NEW YORK, April 15.—The decline Aluminum Co of A! in copper stocks was the feature of an Aluminum Co, Ltd. 232 282 irregular but slower curb market today. 22 21% 22 ‘The movement followed the announce- :at ::t:mn"'l‘:a':“n ment of a reduction of 4 cents a pound ) 26% % [nt] Holdg&Inv 10e. in the price of the red metal. Intl Petroleum (1) Public utilities, including natural gas shares, were fairly firm and the olls held well despite increased offerings, while some of the air shares and mis- cellaneous industrials moved into new 16% high ground. 76% 60% Newmont Mining broke nearly 3| 156 = 113% points. Hudson Bay Mini immedi- | 109% 105% 16% 10 t, % 4% did Shattuck Denn Mlnlnx Noranda | 3393 225 Mines was down nearly 2 points and| 87 72 Roan Antelope about 3 points. Even 3% 14 the lower-priced mine shares, like East Butte, softened. Electric Bond & Share, after opening £ higher on a block of 4,800 shares, ran % 28% Am Superpower (1). ll'l into considerable profit taking in_the 94% Am Super 1stpt(6) 1 mlr;eno‘o’n. “American Light & Traction, l’;“ 2"‘ g;‘&"f‘: ‘L‘:’sufia‘z after breaking 8 poin howed signs m en B vi o 32 of recovery. RSN gll/. Am !;-é;unn:l)'l 6 United Light 5 5 17 Amrad Corporation.. 2 n'he' Jast* e Scavions rose About 3 124 Avglo-Am vot (13e). 31 points, has been bid up on the expec- 12 Anglo-Am n-v(33e).~ 14 tation of the announcement of the com- 6% ikaglo ChilNitvats, . B pany's entrance into the natural gas 13% Appalachian Gas ‘2? 10 54 2 - T e % Allison Drug St % Allison Drug St B. L) 350% 360% lgou 31 Swift Intern1(3%).. 6% Syras Wash M B (1). - Veeder Roof (2% Venezuela Ptm10e) ‘Venezuela Mex OIl.. Vick Financial Corp. o - NDeamssnRoNte NaRARE~E 0 © o AK Tr-Lus DLPS (A). 4 Tri-Cont Corp war. . 40 Tl Ullllllu (21.20).. 5% Triplex Safety Glaes Tung-Sol Lamp (3).. 2“ Uugerleider F Corp.. Lo Interest ilq ev pf (3) Interstat H M (1.40). 1 Alr Ch Copper. West Alr m llh)» West Tab & Sta (2).. Wil-Low Cafeteris. . ‘Woodley Petroleum. - 19 BT TN % 3 H Unit Carbon pf (7) 1L Kolster-Br (Am 8h) Utd Carr Fastor 1.30 Koppers G & C of(6) Lake Supertor Corp. Lakey Foundry..... Lehigh Coal&Ni vqn) EETPRCR-F AT TP =P o RerRom @ ) % i iyt S 16 % 1% 3| sHORT-TERM SECURITIES. -“n?lp“ d {lfl. in dollars based on last quarterly or semi- (Reported by J. & W. Seligman 085 Ex-dividen in stock. s Payable B4, 9 n cashoF stock. & PAvable' 15 Siock. 4 Pavecie 18 ook | AR eSS 100 ol American Th 63 98 » 8. United Gas new 6% United Gas war. resd 51 Baitimore & Gilo u;.' 193 Louisiana Lan & Ex. Baitimo MacMarr Stores (1), MacMillan Pet($2).. Magdalena Syndicat. Mfgs FinCo v.te..... Mapes Cons Mfg (3) Mar W T br shrs 620. Margay (2)........0 Marine M1d Cp (1.30) Marine Un Inv (1).. Marstall Field & Co. Mass Utll ASS0...... Mavis Bottli: .es Mayflower Asso ltl) Mead Johnson(13%) Memph Nat Gas Co.. Mer & M? S A (1.50). Mesta Ma Co (11. 10) . Met Chain Stores. Mexico Ohlo Oil. AND BOND AVERAGES By the Associated Press. Prom Yester: 5:30 Edition. STOCKS. business, Its largest subsidiary, Ameri- | 2 9% Arcturus Rad Tub ca Light & Traction, recently acquired 8% Arkansas Nat Gas... substantial natural gas acreage in Kan- 8% Arkansas Nat Gas A sas and rights of way for a pipe lne, [ 8 7% Ark NG em pf (600) which probably would serve Omaha and 18 Art Metal Works(3) Lincoln, Nebr. In time the company 2 asso-Dyeing & P would expand into Kansas, Missouri and 5% Asso-Elec [nd Lt Iowa. United Light & Power today met Asso Gas & Elec, n some profit taking with the rest of the Ass0 GEE. A (13.40). utllity list, then braced. As30 GRE A deb rts.. Appalachian Gas Corporation, which Asso Laund (330¢).. made its bow today at 13%, its peak Asso Rayon pt (6! over on the Produce Exchange, simul- Asso Tel Utl (b7%). taneously with a public offering of Atl Coast Fish(1.40) . shares at 13Y4, featured the natural gas % Adant Fruit & Sug. . group. Memphis Natural Gas and Lone Atlas Plywood (3). . Star Gas were heavy, as were Dixie Gas Auto Vot Ma cv pr pt Utilities and Arkansas Natural Gas. Aviation Corp of Am o Bancomit new (1.60) NEW SECURITIES Bellanca Afrcraft. Benson & Hedge Bickford's, Inc (1).. NEW YORK, April 15 (#) —New se- Blaw-Knox Co (1%). curity offerings today include: Bliss Co (E W) (1).. Berlin City Electric Co., $15,000,000 Blue Ridge Corp. 25-year 6 per cent debentures (non- Blue Ridge cv pf (a3! callable prior "to April 1, 1935), dated Borne Scrymser (2). April 1, 1930, and to mature April 1, Bower Roller Bear. 1955; priced at 90!; and interest, to yleld about 6.60 per cent; offered by a g:nklng csayndiclce headed by Dilion, NEW YORK, April 15.—The follow~ ing is a summary of important corpora- tion news, prepared by Standard Statis- ties Co., Inc., New York, for the Asso- ciated Press: Ol 8 oz Weekly News Review. 1 % ""fi':’ ‘x’f?i 1o Irregularity characterized the price I o i movements on the Stock Exchange dur- B '/a- 1637, ing the past week. On Monday and ‘Tuesday average prices declined for two successive days for the first time since mid-February. On Wednesday the en- tire loss of the two preceding sessions was regained, with both industrial and utility groups entering new high ground for the year. Profit-taking sales on Thursday were well absorbed, the com- posite index advancing slightly. A mod. erate decline was recorded on Friday, but was practically recovered in Satur- day's short session. The net change in Low the te index for the week was ints. The utility ts, the industrial - szdnn Grand Trurik of Cat 50 Industrials. 3 7 Guit oil of P 2SnuBn~Bolnlnnnmoni olanBons Western Elsctric Co. b Wheeling Steel corp s".s 1941 7!‘ Wheeling Steel Corp. 4s 1953 k! 03¢ = ate Loans Made Linkins Co. Money to Loan having been made below the currently | *** Fravelins interost ong b el rtate: Mid West Ut B war. Mid Royalty ev pf 3. Mid Stl Prod pf new. Min Corp of C (26¢). Mo Kan P L (b10% ). Monroe Chem (1%). Montecatini deb rts. Morison Elec (31)... Mountain & Gult 3c). e s Mount Prod (1.60).. - 1" Municipal Service. .. group [T TN - Y PPN PP !llli (1930) (1930) Brasil Tr & Lt (2)... " (Copyrient. 1830. Standard Statistics Co.) URGES COPPER PRICE CUT. Appalachian Gas Corporation, no-par |~ common stock; priced about $13.75 & dard & Co. London Terrace Apartments, $5,000,- 000 10-year 6 per cent convertible gold notes, to mature April 15, 1940; con- vertible into 50,000 shares of 6 per cent cumulative preferred stock and 50,000 in estors’ shares Henry Mandel Asso- ciates, Inc., in units of one $100 con- vertible gold note London Terrace Apartments (23-24 corporation) and one investors’ share Henry Mandel As- sociates, Inc., priced at $110 a unit; offered by the Henry Mandel Develop- ment Corporation. — PARIS BOURSE PRICES. PARIS, April 15 (#).—Prices moved irregularly on the Bourse today. Three per cent rentes, 89 francs 50 centimes. Five per cent loan, 102 francs 80 cen- times. Exchange on_ London, 124 francs 613 centimes. The dollar was quoted at 25 francs 51 centimes. CHICAGO DATRY MARKET. CHICAGO, April 15 (&) .—Butter firmer; 13,759 tubs; creamery extras, 3714 ; standards, 37%; extra firsts, 34%, a3515; firsts, 3612a37; seconds, 31a33. Eggs steady; 39,159 cases: extra firsts, 251,226, g‘rlded firsts, 2412a25; ordinary firsts, 23a2315: storage chktd firsts, 26%; extra, 2744, SILVER QUOTATIONS. N!W YORK, April 15 (#).—Bar sil- ver, 42%. e BONDS ON THE CURB MARKET. Bales in housands, DOMESTIC BOR 1 Low, Noop. 3 Alabama Pow s 88101 3 101% 101% wih P 98 ; at the ‘market, are; offered by God- 104m Cm Amer G & E 8 'u' n . 107 20 Amer mfl fon s o 981 48 Appalach G . 133 o ot nad Pacidc b St Elec 8izs Stat Elec 99, 0000 S35 8 oo ot ananuatinenatnsRanbiRammaesar S S-S 8EnnomwhS o . HEEEER Qi ) 9532 . PO SRR E??? =0 A &> 1] R s 585! 254¢s: e £y 5 45 L) S EEEET Hot 23853 FIEFEEEE 35 RRE] e e 44 Seg2eas ®; o 3 33 S Sa. ot R R EEL) < n " o8 BE ! Sggg- s 15825 g5 posigiRgiiigy oS! 8!8%??&8.-3 (222RERRRER! .. et g S s 4 "’!' RrooBisamut 1B o nosons 3‘"9’.::% K3 - S - 130 009 R 1% Cab&Wire Ltas rets. C&W pf rets(37%¢). Can Marconi......e. Can Pacific(new)w.i. Carnegle Metals. . Cent Hud G&En (2). Cent Public Service. Cent P Sv A (al.76).. Cen States EI (340c) Chain Stores Dev... Chain Stores Stoek. . Chatham Phoe Al n-v Chem Natl Asso n-v. Ches & Ohlo (new).. Citles Service (330e) Citles Serv pf ( Cit Serv pf B ( Clev El Illum ( m. % Club Alum Uten. Bu Colon OMl..... Colombia Syndicate. % Colum Ol1&Gaso w.i. Columbia Picture: Colum Pictures v.t Com'with Edison (8) llgl 3 Comwith & Sou war.. Com Wat Ser (b6%) Consol Auto Merch.. 4 Consolidated Coal. .. Consolidated Copper Cons Dairy Prod (2). Con Gas, Balto(3.60) Con Gas Ut A(2.30).. Con Gas UtiLB v.t.e.. Cons Instrument. .ee 10 Cons Laundries. & Con Nevada-Utah. 124 Continenta] Ofl 11w Cord Corp... 12% Corroon & Mlolll. 1% Cor & RC‘){I“‘ L1 %Y & Cuban Cane pr opt 40% Cumb'Ind Pipe Li(4). 1% Curtiss Wright ware Deere & Co new w.i o De Forest Radio. ... Derby Ofl & Refin... Detroit Alrcraft C%I;. 8 7 ol B - LTI — =S oo | 21 18 15 1 Dow Chemical p£(7).. 110; Dres(SRIMIg A3%. Driver Harris(new). Driver Harris pf (7). Dllblll-t Mmfllfl Duval Tex Sul Wiewr East Butte.......ou Kast Gas & ¥ AsSSO.. East Sts Pow B (1).e Eastern Utll Inv A.. Eastern Util Asso ov Eisler Electric (1%) El Bond & Sb (b§)... E1 Bond & Sb pt (6). 24% Elec Pow As80 (1)eer Elec Pw As30 A (1). E1P& L opt war.... Elec Sharenldg ($1)« Empire Fire Ins..... Emp G F eum pt (‘l). Emptre Pwr Corp(3) Emp Pub Sv A(1.80). Employ Reinsur 1%, Buropan Blee (The). Evans Wallow Lead. Federal Baking Shop Federat Metals t1%. Fiat Stk deb rts. Film Inspect Mach Florida P&Lt pf (7). Fokker Alrcraft.... Ford Motor Can Ford Mot of France.. 35% Gen Baking Df . 10% Gen £ Ltd rets (50e) 21 Gen Empire Corp. . Gen Gas&El av pt(8) !Ulfi Gen G&E v pf B (6) 49 160% 131% Gulf Ol of Ps ¢1%). L3 llmn-un‘? 19 8 3 7 il nanlernoman monHeRe @ 1 1% 6% 16% % 1% 6 164 127% 123% 29 29 1% 5% 14% - 15 16% 18% 86 5% 19% 1% 38% 38 869- 1% 30% 145, 98 54 23 28% 21% 4 J1% 5 14 * 15 16% 18 86% 5% 18% 1 88% 3% Nat Amer Co., .o Nat Aviation Natl Bond & Share Natl Fam Strs (1.60) Nat Fuel Gas (1).... Nat Investors (new) Natl Pwr & Lt pf(6). Nat Pow & Lt pf (1) IDDI Nat Pub 8v A (1.60). Nat Rub Mach (3).. Nat Screen Serv (2). Nat Bteel Corp xw (3 NatSugar NJ (3).s Natl Transit (1) Nat Union Radio. Nebel (Oscar) (1%). Neet Incov A (1.60). Nehi Corpn (1.30)... New Eng Pow pt ( New Eng Pwr (2)... NewEng T&T (8).. New Hav Clock 11% New Jer Zine (14)... Newmont Min (34).. Newport Co (3). N Y Invest (Ll.)-.u N Y Pet Royalty (1). N Y Rio&Bu Alres. . Niagara Hud P(40¢c) Niag Hud Pw A war., Niag Hud Pw B war. Niag Shares Md(40c) Ntles-Bement-P 133§ Nipissing (30¢)..... Noma El Cor (1.60).. Noranda Mines (3).. No Am Aviat A war.. North Cen Tex (600) Novadel Agene (3).. Ohfo B Tel cm pl(") oo @ 3 2 PonanniSn-aanfnens - Ollstocks,Ltd A ufll Pac Coast Bis pf 3.50 e NORNNAANANARNRON W % Ross Russek’s 5th Av St Rexis Paver (1).. 34 20% Safety Car H & L(8) 2268 Safeway 8 war 6th. . o forey g voansunbhiaanBaand-mmune - ) § 33% Stand Cap & Seal (n) 70% Stand Inves pf(5%) 20% Stand Holding. corp. €1.60), - uu Stand Ofl, N..("‘) .:s..§...._........=.. 27! 102% 110 26% 26% 30% 71 31% 19% 9 11% 23 26% 62»-. % 1 BBW 21% group moved up 1.1 points, while the rail average declined 2.2 points. Turn- over was again hm, lurentmg 29,- | 201,360 shares, red with the rec- | ord volume of 293 ,540 shares in the | 1. | preceding weel 102% 110 26 26% 30% 4% 321 158‘4 21% week. On_the listed bond market prices moved in narrow limits, with tendency ml'lrd softness. Sales totaled $70,210,- uum $73,044,700 in the previous ee w offerings aggregated $193,845 ooo. -;mc $86,390,000 the week preceding. Brokers' loans, as reported by the Pederal Reserve Board, registered a fur- ther gain during the week ended April 9. Increase amounted to $26,000,000 and w loans increased by $148,000,000. money rates fluctuated between 312 and 4 per cent. The consolidated statement olthendfl'flrmrveblnsonApfll the previous showed decrease from week of $15,000.000 in holdings of dis- counted bills, $34,300,000 in bills bought in open market and $3,100,000 in United States Government securities. Total bills and securities declined $52,300,000. 1 Ruerve ratio advanced to 81.5 per cent, wlth 'lnl per cent a week M 8go. “Dlmd lnrchhtbensumm 7% | securities of constituent companies for of the Rocky Mountains reached a total of “Wll.flhz according to F. Pl tl 100, l"lm or about 12 low the corresponding 3 Contemplate new work of all kinds re- &w'dw IHIO" \mted to l'lfl ’135 - Wi hbr\u.ry lnd uuo'u.xoo ln h"..e"'i. of st yeus. aggrega r cent be- 929. :pmdu p-rh?; of 1929. Copper statistics for March indicate NEW YORK, April 15 (#).—The Cop- per Export Association today recom- mended to its foreign members that the price of copper be reduced from 18.30 ts to 14.30 cents a pound, c. i. f. gxx;opem ports. The association stated that its recommendation came as the result of large offers of the red metal quoted price. Corre: ding reductions were made lomestic price of the metal to 14 cents pound delivered to the end of July from the previous 18-cent level. New South Wales, Australis, is con- sidering salary reductions of Parliament and government o that stocks of refined conper were in- crund 22,897 tons during that month. Stocks at the end of March totaled tons, compared with 233,123 March 1'230 and mo'n.}fy 52,968 Outp: copper March ‘'was at the lowest daily te reported since 1927. It averaged 4 099 tons or 299 below February’s aver- je. ll tion of crude oil in hn'nk April 5 averaged 2,530,~ 450 barrels dxlly, an increase of 16,250 barrels over the previous week's average, Corporation _liquidating value of common stock about $32 & share on m of current prices of its ‘Type Founders estimated SR R 19!0 lvalent on stock va. o '$8.44 in Tike previous period. Creek, Mich., plant. hany consolidation of com- o e 00 R calls for the exchange of British Steel and Dominion Iron & Steel directors approve three those of the new corporation. Continental Diamond Fiber stock- hnldmmmoummllwuwmu to 700,000 shares from 58 BB i gE i s Cr———" I S—— HARRY SOMMERS, INC. G.M.-P. MURPHY & CO. WASHINGTON Philadelphia London New York Richmond New York Stock Exchange Washington Stock Exchange Richmond Stock Exchange New York Produce Exchange New York Curb Exchange Covy o1 our “Fortnightly Review” on Request 1510 H Street Connecticut at K Nationel 9600 F. B. KEECH & COMPANY Members of New Yok Bechange Wedidgh RRY Bxhosg Chicigs Btéck Bmbaage Sew York Curb Murbon Chicage Doard of Trade Liverpot Cotton Bachange, Led., (Asses. Mombors) Mww York Oottsn Eachangs e Orieans Cotron Tzehongy Sromea Cotten Buchange (Assss. Mombers) Winaipeg Orals Bachesge RV, Coies & uges Bachange, loa Rubber Bachengs of N. Vo Ine DIREGT PRIVATE WIRES M GORNSR 177H ST., N. W., WASHINGTON NEW YORK SPRING. SALON SHOWING (America’s Finest Motor Car) ) Washington Pierce-Arrow sales in- creased 323% in 1929 over the previous year, and thru March 20th, 1930, indi- cates an increase over the same period in 1929 of 66%. We invite your inspection of a com- plete display of America’s Finest Motor Ci ar. are pleased offer at this_show: %gs "4" oommrmu udan’ lom built by mM h, immediate delivery. Pierce-Arrow Distributors Salesroom—1727 Connecticut Avenue Open Evenings Joseph I Weller 5, 7egh Wm. 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SAUL CO. 925 15¢h St. Nat'l 2100 $1,000 TO $100,000 ON A PAYMENT PLAN IND out what the regular Investment of small sums will do for you under the time-tested Investors Syndl- Jan—chosen by 170,000 men and women ln the United States and Canada. Use the coupon. rame. and y ot, “Enjoy Maney.’ Address .....eciieieiiiinnsccens INVESTORS SYNDICATE POUNI 1894 BARR BUILDING 'WASHINGTON, D. C. Telephone: Matropoliten 1679 ©PIICES N 31 PRINCIMAL €ITIES