Evening Star Newspaper, May 2, 1930, Page 14

A—14 INGREASED WHEAT SHLEHELD NEEDED Wider Use of Product Urged by Business Men of Nation. * ke F1 BY J. C. ROYLE. The statistical position of wheat throughout the world is showing im- provement, according to official Govern- ment figures. There is no alarming prospect that the coming crops either here or abroad will be of bumper pro- portions. But the consumption of wheat is not improving satisfactorily. In consequence, many of the business men outside the agricultural fleld gath- ered here for the meeting of the United States Chamber of Commerce feel that improvement for the wheat grower must come through the same steps Which have been efficacious in their own busi- ness—namely, a development of wider use of wheat. The Farm Board, represented by its chairman, Alexander Legge, however, maintains that co-operation is neces- sary not only among the farmers them= selves, but among men in industrial lines, in order to make the collective market- ing program of the board fully effec- tive. He states the board has been suc- cessful “in a measureable degree” in stabilizing price levels for wheat and cotton, but declares that in their own interests manufacturers and industrial producers should support the program to a fuller extent. Legge's Challenge. A demand that the farm marketing act, under which the Farm Board op- erates, be repealed has been made by a group in the Chamber of Commerce headed by Daniel A. Millett of Denver. The attitude with which the question is viewed by both sides is shown by the challenge of Mr. Legge to “match dol- lar for dollar” in the establishment of a foundation to discover a better meth- od of aiding the farmer, and the ac- ceptance of this challenge on behalf of the chamber by Julius H, Barnes. Mr. Legge points out that farmers constitute almost a third of the popu- Jation and that it is to the interest of the manufacturer to see that the farmer has more money in his pocket than barely enough to live on. In failing to do 0, he adds, the industrial producer automatically cuts off a third of his potential customers. As an illustration, he cites many industries which have shown & decrease in production solely because the Inrmeiocdoul& not buy what dustries luced. th%e ‘:elkl has l';e!n expressed in many quarters that prices for farm products were being artificially and autocratis cally controlled by the board. Mr. Legge answers this by declaring that the most important function of collec- tive action by the farmers is to bring production, both as to kind and amount, more nearly in lil":: with normal mar- irements. keg‘;j‘ema that the Government is the banking business by them to market their crops in an or- d:rly manner are answered by the as- sertion that if private business and banking interests do not find it worth while or to their interest to aid '.hle farmer in this manner, they have small NANCIAL THE EVENING STAR, WASHINGTON, D. C., FRIDAY, MAY 2, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. ’ (Continued From Page 13.) Sales— Add 00. High. Low. 2 109% 109% ~Prev. 1030.~ High. Low. Stock and Dividend Ra Ph Ch pf(6%). 8S)Co(1.60) 17 314 31 23% Kreuger&Toll (1.34) 89 33% 3215 3014 Kroger Gr&Rak(n1). 109 34% 31% 21% Lago Ofl & Trans, 6 24% 24% Lambert Co (8) Leh Port Cem (2% 12 Lehigh Valley Conl.. 70% Lehigh Valley(t414) 2 881 Lehman Corporation 36 29% Lehn & Fink (3).... 19% Libbey Owens (1)... 91% Liggett & Myers(15) 91% Ligg & Myers B(15). 251 1 Link Belt (2.60) 523 Liquid Carby 42% Loew's, Ine (3. . Ine pf . Loew’s pf xw (63).. 3% Loft. ll; Wil 16% Lorillard (P) Co.... 267 921 Lorillard (P) pf (7). 2 8 Louisiana Ofl 6 328 Ludlum St 63 McCrory (A) (2).... McGraw-Hill (2). . McKeespt T P(143). 25% McKesson & Rob (2) 8815 Mack Trucks (6).... 159% 132 Macy(RH) & Co(n2) 14% 11% Madison Sa G (1%). 52% 33% Magma Copper (5).. 12% 50 40% 10% 56 30% 481 51% 55 61% 23 42 238, 9215 37 33% 4 33 2% 53 6% 28% 66% 98% 30% Man Elev mod (d5). 5% Maracaibo Ofl Exp.. 39% Marlin-Rock (t4%).. 20% Marmon Motor (2).. 45% Marshall Field & Co. 3714 Mathieson Alkil (2). 3 Martin Parry. ... 49 May Dept Strs (n3). 16% Maytag Co (12)..... 26'% Melville Shoe (2).... 15% Mengel Co (2) Mengel Co pf (7). 53 Michigan Stl (m21%) 28% Mid-Cont Petm (2). 12% Minn Moline Pwr. 46% Mo Kan & Texas. . 811% Missouri Pacifie. 26 80% 7% 2 129% 127 40 23% 23 63 23% Mohawk C Mills (3)., 48% Monsanto Ch (§1%). 35% Montgom Ward (3). 3% Moon Motors. .. 584 Morrell & Co (4.40).. 1% Mother Lode (40c) 4% Motor Meter G & El.. 50 Motor Products (2). 26% Motor Wheel (3) 12% Mullins Mfg. 18 Murray (b2%stk). . 35% Myer(FE) & Bro(2) 43% Nash Motors (6) 18% N % . 473 1 lain if the Government Mu\luwt.o le:x;.‘spldded that it is as nec- essary that the price of commodities be stabiiized as that prices of the security ‘markets be stabilized, for which purpose private bankers and Government agen- cles united. The Weather Question. e In the midst of this somewhat bitter duc':luion now in pre between some industrialists and the farmers, the question of the weather injects itself as a major factor. No great danger from excessive crops from other countries is 180 NY & Harlem (5)... 50s 27% N Y Invest (1.20).... 14 108% N YN H & Hart (6).. 43 119% NYNH&HDf (1).. 13 13 N Y Ont& Western.. 2 2 NYRailwayspf.... 1 110 N Y Steam 1st pf (7). 508 226 Norf & Western (10) 5 120 28 113% 235% rent, but reports from various sec- :l‘:;:: indicate that producers of wheat, cotton, tobacco and other farm products are not a unit in agreeing to follow the advice of u;‘e P-n': B‘(;‘lrd wwreduue acreage or change to other crops. Department of Agriculture figures in- dicate that farm commodity prices im- proved slightly in the period from from March 15 to April 15. (Copyright. 1930). Corporation News NEW YORK, May 2—The following is today's summary of important cor- poration news prepared by Standard Statistics Co., Inc., New York, for the Associated Press: News Trend. Pinancial and trade news of the past day was unfavorable. The security and commodity markets were weak. Brokers’ loans recorded an unexpected increase of $57,000,000, bringing total loans to the highest level since November 6 last. 1In the period covered by the report our index of 90 stocks fell 4.8 points. May wheat dropped to $1.00%, & new low for the season. Sugar sold at 1 17-32 cents a pound, a record low. Of outstanding interest in the day’s corporate news is plan_ of refunding announced by General Motors Corpo- ration whereby present outstanding 7 per cent and 6 per cent preferred and debenture stock would be exchanged for new 5 per cent preferred. Plan, if carried out, will effect a saving of $338,934 a year in dividends. ‘The Companies. American Light & Traction earned $15.44 on common stock in 12 months to March 31, 1930, against $13.47 in previous fiscal year. Commercial Credit earned 50 cents on common stock in March, against 70 cents in like 1929 period. Electric Auto-Lite April output larg- est in company's history. May sched- ule 10 per cent above April production. General Motors stockholders to vote on_ authorization of new issue of 6,- 000,000 shares of $5 no-par preferred stock. Directors have approved plan whereby holders of present senior se- curities would be extended an offer to exchange such shares for new stock. Securities not exchanged to be called. Savings in annual fixed charges rep- resented by dividends would be $338,- 934 a year. Graham-Paige Motors produced 6.754 cars in April, against 4937 in March and 11.550 in April, 1929. In the first four months production totaled 18,428 cars, against 36,834 in like 1929 period. Grand Union Stores April sales up 17.3 per cent. Jewel Tea first quarter .earnings up 45 _per cent from like 1929 period. Ken-Rad Tube & Lamp producing 4,000 radio tubes daily. Lefcourt Realty opens new 45-story Lefcourt-Colonial Building; 70 per cent of space occupied. Lehigh Valley Coal had deficit of $147,208 in March quarter, against profit of $438,328, or 27 cents a common share, in like 1929 period. Pure Oil advances price of Michigan crude oll 10 cents a barrel to $1.35. Shell Union Oil earned $1.26 on com- mon stock (after dividends on preferred stock issued June, 1929) in 1929, against $2.04 in 1928. Simms Petroleum had deficit of $37,- 554 in March quarter, against deficit of $57,351 In like 1929 quarter. Standard Plate Glass temporary re- ceivers appointed by Common Pleas Court. Officials ready to accept re- ceivership and would dismantle plants 12% North Am Aviation.. 140 93% North Am(b10%stk) 184 51 North Ampf(6).... 3 87 Northern Pacific (§). 53 81% North Pacificct (5).. 16 % Norwalk Tire& Rub. 1 9% O1l Well Supply. .. 13% Oliver Farm Equip.. 3 31% Oliv Fr Eq ev pt(3).. 18 63 Oprheum Cir pf (3). 2208 70% Otis Elev. n(2%) 43 -30% Otis Steel (23). 53 Outlet Co (4).. 15 Pacific Coast 2d pf 5214 Pacific Gas & £1 (2 107% 72 Pacific Lighting (3 178 140 Pacific Tel &Tel (7). 23% 15% Packard Motor (1) 63% 50% Pan-Am Petm (B) 13% 4% PanhandleP&R.... 29 47% Panhandle P& Rpf.. 1 48% Param'nt Publix (4). 235 25 Park & Tilford (33).. 12 2% Park Utah....ce..oe 2 15% Parmelee Trans 1%. 2% Pathe Exchange. .... 5 Pathe Exchange (A) 20 Patino Mines (a2.92) 64 Peerless Motor Car. . 26% Penick & Ford (1)... 3 614 Penn Dixis Cement.. 13 30% Penn Dixie Cmt pf. 72% Penna R R (4). 0% 57 Peop Drug Strs(1) 323 230 People's Gas, Chi (3) 94% Pere Marq pr pt (6). 10% 50 77 1 57 57 10 305 298 108 98% 98% 2 36% 36l 79 24 21% 1 12% 12 7 20 20 383 421 39% 2T 27% 81, Philip Morris (1). 27% 23% Phillips-Jones Corp. Petrm (n2).. -Arrow (A)... 2 50 5% 33 46% 5T 2% Plerce Petroleum. 37% 321 Pillsbury Flour (2).. 50% 4434 Pirelll of Italy(3.14). 78% 54 Pittsburgh Coal..... 22% 17% Pittsbgh Screw 1.40. 15% 8 Fittsbgh Trml Coal.. 45 36 Pittbgh Term Cpf 121% 106% Pitts & W Va (6). 22% 20% Pittston Company 34% 27% Poor & Co (B) (2) 27% 12 P Rican Am To (B 54 45 Prairie Oll & Gas(2) 60 b4 Prairie Pipe L (15) 16% 7% Pressed Steel Car. 76% 52% Proc& Gamble (3).. 11% 6% Prod & Refin 123% 81% Pub Serv.NJ (3. 130% 121 Pub ServNJ pf (7). 9% 78% Pullman Corp (4 8% 24 Punta Alegre Su, 27% 21% PureOll (1%) 114% 112% Pure Ol pt (8). 88% 72 Purity Bakeries (4). 34% Radio Corp. 53 Radio pf A ( 68 Radlo Corp (B) 19 Radfo-Keith-Orph A, 593 70 RRSec1CstkC(4). 508 58% 33 Raybestos Man2.60. 116 141%5 111% Reading Rwy (4)... 44% Real Silk (5). . 88 Real Silk Hos pf(7). 281 Reis (Robt) & Co pf. 25% Rem Rand (1.60).... Rem-Rand 1st pf(7). 95 Rem-Rand 2d pf(8). 10% Reo Motor Car (80¢). 63 Republic Steel. A % 95 Republic Steel pf (6) 114% 107 Rep Ir & Stlpf (7).. 30% Reynolds Metls 2.40. 4 Reynolds Spring.... 4 71% Reynolds Tob A (3).110s 493 Reynolds Tob B (3). lié 26% 213 4619 53% 10 69 9% 107% 1284 6% 2% 24% 1123 72 . 2 9% ). 494 114% 2 128% 7 55% 55% B1% 410 4% 46% 110% 52 98 31% 36% 9915 101 0 14 112 y 45 56 108 98 10s 101 3 1% 11% 41 63% 61 3 95w 95 4 113% 118% 3 31% 30% 5 4% 74 3% 52% 51 26% 24% 22% 21% 50 50 37% 36% 54 52% 90% 88 447 Ritter Dent Mfg (13) % Rossia Insur (2.20).. 9% Royal Duteh (a3.20). 122% 92% Safeway (e5)....... 637 Prev. Close. Close. 109% 109% 31 814 334 33 32% 32% 24% 24% 100% 101 Tie T 103% 1074 36 37 41 42 651 68 88 91% 109% 108% 93 93 5% 5% 631 62 122 122 234 24 981 104 461 34 63 41y 81% 30% 42% 5 16% 73% 5% 134 135% 1% 11% 331 33y 8% 8K 18% 344 33 45 28% 45 443 4 54 17% 37la 1719 90 30 23% 45% 45% 4 54 17% 4015 18% 91% 33% 19% 19% 61% 647 29% 31 1% 421 42% 168% 169% 120 122 109% 109% 217 221 27 28 108 110 120 122 13 134 2% 2% 113% 113% 235 236 1215 13% 117 120 55% 55% 8% 8% 8% 78 7 298 98% 98% 36% 36 21% 24 12% 12% 20 24 39% 42% 27% 2% 2 2% 521 49% 5% 6% 33 33% 465 46% 58 56 22 2% 9% 40 100 22 26% 28 22% 22% 46% 47% 54 baw 10 104 0% T4% 9% 10 107% 113% 128% 129% 6% 71 2% 3 24% 26 121 112% 8% 2% 56 62% 55% Bb 814 81% 41% 44% 4% T4% 47y 49 uz 11 B5% 8 1 3 4 100% 100 101 102 1% 11 62 631 9% 95 113% 114% 015 32% 5 1% 51% 2 | 224 51 37% b5d% 88% ~Prev. 1930.~ High. Low. St Divi 99% 94 Safeway pf (6) 3 109% 105% Safeway Strs pf (7). 57% 43 St Josepl 118% 107% St L-San Fran (8)... St L-San Fran pf (§) 101 70 31% 1215 14% 100% 23 3% 13% 27% 52 48% 25% 21 Shell Un 106% 100 Shell Un 35 8% Shubert 92 59% St L Sou! 2 7% Servel. L 17 Sharp & 2415 Savage Arms (2) 9% Seaboard Air Lin 9% Seagrave (e1.20) 811 Sears Roebck (32%) 915 Second Natl Inv. Seneca Copper. 36% Shattuck(FG)(t1%) 42% Shell Transpt(a2.41). 108 ock and Sales— dend Rate. Add 00. High. 208 95 109 43% 111% 97% 108 h Lead (13). thwestern ne. Dohme. 35 fon (1.40)... Oll pf (5%) Theatr 7% 94% 43% Simmons Co (3). 37 95! 24% So Porto 17 So Port Ric S pf (8). 56! Southern Cal Ed (2). 18% Sou Dairies,A (1%). 119% Southern Pacific (6). 22% Simms Petrm ( s Solvay Am pf(5%).. Rico Sug (2} 208 59 2 30 101'x Southern Rwy (8)... 100 9713 Southern Rwy pf (5) Sou Ry M&Oct (4). 90 33 Spalding 197 Spang- 1314 Sparks Spencer Kelg (1.60).. 13 Spicer M: 1 1 1 10 32 1 (AG)(2) altant. thngta(1). 8. . . H 109% Stand G & £ (3%). 64 10 Stand In 55% Stand O of Cal (%4). Stand Oil Exp p£(5).. 374 Stand Oil of Kan (2) 58 Stand OLLN J (12). 31% Stand OIL N ¥ (1.60). 23 98 1% Stand Pl 4 25 33 Starrett 10% Sterling Sec (A). Sterling Sec pf(Li 1z Stand G & £ pt (4). vest Corp. 4 87 1 70 2821 8 Gla 11 Stand Plate Glass pf.13 Stanley Co of Am. .. 360; (LS) (12%) 116 ) 36% Sterling Sec cv pf(3) 25% Stewart- 77 Warner (1). Stone & Webster (4). 354 Studebaker Corp (4). % Submarine Boat 70 53 SunOil ( 106% 1 5l Superior Superior 11).. 02% Sun Oil pt (6) ol Ste 2% Symington 17% 26% 17 60% 679 145 14% B2% B6 16% 46% 4Tl 13 54 Tex Gult 117 19 8% Symington 15% Telaut Corp (11.30) & ‘Cenn Cop & Ch (1). 50% Texas Corp (3).. Sulpnur(4) Texas & Pacific (5).. 8% Texas P C& Oil.. 13% Texas Pac Land Tr. ‘Thatcher MIg (1.60 333 Thompson Frod(2.40, 11 Thompson Starrett. . 10% Tide Water As (60¢). i Tide Water As pt (6) 864 Tide Water ULl pf(5) ‘IO Timken Roller (3). .. 2% "Lobacco Froducts, % Lobacco Products A. 16% Transcontl Ol (30¢). 16 Transue & W (1), 30% Trico Prod (2%).... 16 Tri-Cont 894 Tri-Catl 15 33 19 “Truscon 138 125% 121 16m 10 W% 76 50 242% 215 8642 9y % b2 B4 56 36 9 4 584 26 Utd Cigal 1Corp. ... Corp pr (6). Truax Traer (1.60).. Stl (81.20).. Iwin City Ka Tri4). 97% Und-Ell-Fischer (5). Und-Ell- Union Bug & ¥ o Union Carbide (2.60) 1100 41% Union U1l of Cal (32) Unlon Facific (10). .. ®214 Union Pacitic pt (4) 431 Utd Alrcraft. .. Utd Aircraft pf (3).. Utd Biscuit (1.60) 44% Utd Carbon (2).... Utd Cigar Stores. & 1081 F'shr pL (1) 20s 126 r Strs p. 15% Utd Stores pt. 12% U S Distributing. ¥7% U S Alconol (17). 7% U S Leathes 15 18k U S Pipe 1% U S Pipe 18! U S Pipe o0 U S Reaulty () U S Leathe! &F ) & ¥ 18 1.20. & ¥ 2d1.20. 21% U S Ruvber. 47% U 8 Rubber 1st pt U S Smelt Ret (3%). 166 141 2% Univ Pipe U S Steel (7). U S Steel pt (7). e & Rad.... 3l Utll Pwr&LU A (e2).. 4 Vadasco Sales Corp. 49% Vanadium Su (T4).. 484 Van Raalte 1st pf. 7% Vick Chemical (2%). 52 Va-Car Chem. 26% Va-Caro Chem 6% pt 100% Va Kl & Pwrpf (6).. 108 106% Va Kl & Pwr pf (7).. 308 66 68 920 51 83 24% Waldort 26 Walworu Wabash. 44 Ward Baking (8). 55 Ward Ba Vulcan Det (4). Vulcan Det A (4). Vulcan Det pf A (7). 10Us Wabash p! + 1608 608 . 3 © 10 36 z Sysunilig h Co (2). king pt (7). 38% Warner Bros F10 (4).1551 365 War Bros P pt (2.20) 16% Warner-quinl Warren Bros (3).... 06 18% War Bros 8% Warren ¥dy & ¥ \Z). W ebster-kiseniohr. . ol 223 Wess o1l bUls Wess O & Sn pt (4).. Y7 West Peu 99 117% 118% West w s 304 21 53y 40k Wi 219% 1734 52 43% Wi 201% 140 W 197% 133 487 59% 21 54% 13% 2% 11 b4% T2 162% 108 3 77 2% 37 10 Westvacy 42 58% 67% Worth P 88 Worth P 67% Wrigley 47 160% 1 16% 08 Young S RIGHT! z 20 15 s 18t L) u 208 5 z 2 1 un KL pt (6). 208 ). & Snow (). West Penn 1 A (7). 2008 Penn Pw pt(1). oUs 29% Weston Kl instr (1). 0 Chlor (%). Wextark Radio Strs. 364 White Rek MS(14%) 7% White Sewing Mach. 19% Wilcox & Rich B (2). 7% Willys-Overland. Wilson & Co pt Woolworth (2. ump. ., umptA) (7). (Wm) (4).. 60 Yale & Towne (15).. 12% Yellow Truck. 36y Youngs Spring (3).. heet & T (5). 5% Zenith Radlo........ 'S EXPIRE 2 % Am Roll M..June 16 22% 20% Am Tel & Tel.Aug 1 2% 1 3 24 1% % Ludlum Y P 1% Ri ™ Wi rl A Chi R1&P..May ¥ Stl..May 19 Mot C May § th-0.May 18 er-Quin.May 16 Sales of Stocks on New York Exchange 10:30 A.M 1:30 P.M. Dividena rates as g1 oayments based on 8 Unit of trading n stock § Payable in ao regular rate. b Py abl cas) stoc] atock. b Pius 3% in stock.. | PIs 8% in xtock. & Plus 3 8% in .3,387.700 less than 638,100 12:00 Noon 3:10 P.M. ven in the al tal itest rtly extra § Pius Payable when earned. Plus Plus 9 1 Plus 10% in scrip. 1 ble_in & POTATO MARKET. sacked, russets, 3.40a3.65; occasional 1930, four Baltimore companies have bOve table are the annum cash quarterly or hali ssarly declartions. g, 100 shares * Pa IBONDS ARE HIGHER ON EASIER CREDIT High Grade Issues Have Ac- tive Market—Rails Well Bought. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, May 2.—While stocks were going down today, bonds were re- flecting the general lowering of interest rates all over the world, which included the cut in the Federal Reserve rate in New York after the close of the mar- ket yesterday and the lowest renewal rate for call money today in over a month. There was accumulation of high- grade bonds by dealers, which was re- flected in the listed market and in over- the-counter _transactions. The aver- ages of all of the first-grade rail mortgages and of the public utilities showed a strong upward trend. Gov- ernment bonds were higher than they have been for some time. e influence of easier money spread 1930 FINANC [ m some BONDS s s Received by Private Wire Direct to The Star Office Edison 6% I,NO'I'ET"I'IIQ New {lort Stock !‘-’NY change now operating on daylight | X saving time. i INY Tel 4y N Y Tel 6: N Y Tel 6 UNITED STATES. ), North Am Ed 5 (Sales are in $1,000.) Bal NoAm Ed 5%s High Low. Close. 10012 1005 10012 | Nor Ohio Tr&L 6s. . Nor States Pwr 5s. 10118 10118 101 18 1024 10128 10128 |p,clne Gas s BI s PacT& T 1st bs 1012 1012 1012 101 10024 100 3 2 1088 1086 Jonn” B e 1§82 10720 107 36 [ TETATIOUNL 68 47, 17224 11126 11126 FOREIGN. Sales. High. Low. Close. s 114% 114% 114% 100% 100 100% 106% 106% 106% 112 111 112 102% 102% 102% 103% 103 103% 1 102% 102% 102% 101% 101% 101% 102% 102 102 102% 102% 102% 105% 105% 105% 101% 101% 101% 1% 71 T1 102% 102% 102% 100 100 104 104 95% 6 105 105 96% 95% 3I6Y 81% 81% 81y 98% 98% 98 98% 98% 98 45% 454 45% , 100 100 100 96% 95 96% 99% 99% 99% 95% 95% 954 100% 100% 100% 102% 1025 102% 104 103% 103% 160% 100 100% % 98 98 96% 96% 96%, 104% 104% 104% 103% 103 103% 97U 9T 97w Phila Co 55 '67. Phila & Read 6: Phillips Pet 538 Pillsbury F M 6s'43 Postal Tel & C5%s 46 Pressed Stl Car 6s. 15 Pub Sve G 4% 5 Pub Sve Gas Low 877% Close 87% 87% 98% Argentine 5s. .. Argentine 6s Ju '59. Argentine, May '61. Argentine 5145°62. Argentine 6= Oct'59 Argentine 6s A. Argentine 6s B Australia 43 = '56 Australia 5855 Australia 58 57 Austria 7s Bank of Chile 6%s. Bank of Chile 6%s Belgium 6s. Belgium 6%s. Belgium 78'55 Belgium 7s '66 Belgium 7% Belgium s Pure Ol 5%5 37 Rem Arms 6s 37 Rem Rand 5% Richfield Ofl 6s Sinclair Ol 6s. Sinclair Oil 6% Sinclair Ol 7s. Sinclair Crude 6% Sinclair P L bs. Skelly Oil 6% So Por Rico Sug Stand Oil. NJ 46 Stand Oil, N Y. 4%s. through the foreign list, where numer- ous issues that have not been quoted “|for some time appeared on the tape at ® |advances ranging from one-half to a point. This group was favorably af- fected, not only by lower money here, but by the decline in rates abroad, which undoubtedly will lead to refund- ing operation where they may be made at any time and to the purchase of these bonds by foreign investors. Some of the strongest of the high- grade ralls were Atchison 4s, Canadian Pacific 4s, Union Pacific 4s, Northern Pacific 4125 and 6s, West Shore 4s and Great Northern 7s. Among the junior rails which responded to the money situation were Chicago & Eastern Illinois 5s, Chicago, Great Western 4s, St. Paul 5s, Erie 5s of 1975, which ral- lied within 4 of their issue price and then reacted, and New Haven 4 per cent debentures. . Local tractions were up from % to a point. Bonds of the automobile and tire group were firmer. In the con- vertible list sharp declines occurred in American Telephone and International Telephone 41,s, with Atchison and Baltimore & Ohio 414s both higher, and Philadelphia & Reading Coal 6s up a point and then off 2 points. ‘The market for preferred stocks has been benefitted by the new money con- ditions, but not to the extent of that in bonds, as the former had moved up sharply and had held their gains. It was reported from London that the underwriters of the Sao Paulo loan had been left with a large amount of the issue, which was in contrast with the experience of the American members of the syndicate. o Washington Stock Exchange SALES. Capital Traction 55—$1,500 at 94%, $2,000 at 94%. Georgetown Gas 5s—$500 at 101. ‘Washington Gas 6s A—$1,000 at 10213, Washington Gas 6s B—8$1,000 at 104%. Capital Traction Co.—10 at 7512, 10 at 1515, 20 at 7512, 10 at 751.. Washington Rwy. & Electric pfd—8 at 981;, 3 at 9815, Wlshlinmn Loan & Trust Co.—2 at 498Y,. Lanston Monotype—6 at 126. Security Storage Co.—2 at 115. AFTER CALL. Washington Rwy. & Electric 45—$3,000 at 87%. ‘Washington Gas 55—$1,000 at 101, $500 at 1007. | Potomac Electric 5% % pfd.—5 at 108%}. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Bid. Asked. 283! 2 25 & & Suburban a388.555 ¥ gsa8ze ev: e_Clul D. C. Paper Mfg. 6s. Wash. Mkt. Cold Storai Wash. Cons. Titie s.. STOCKS. PUBLIC UTILITY. 1 & Tel. (9) ction Co. (8. Lt. Co. (18! 5 t Pot. Elec. Power 6% Pot. Eiec Power 8 ‘Annap. pfd. NATIONAL BANK. Columbia ( Commercial (stamped) (10). Federal-Amer! Lincoln (1! : Second (9e] | Washington ( TRUST COMPANY. Amer. Sec. & Tr. Co. (15) Mercl its’ Bank (6] Natl. Sav. & Tr. (121). Union Trust (8g) Wash. Loan & Trusi SAVINGS BANK. Bank of Bethesda (6%) . | Commerce & Savings ( Wi Seventir United States (30). . Washington Mechani FIRE INS! American (12). Corcoran (10 Firemen's (9)..' National Union’ (i) TITLE INSURANCE. Columbia (6h). ... & Real Estate Title (8 Title & Inv. Co. Md. Barber & Ro: Paper Mfg pfd. Dist.” Natl. Securiti Emer. Bromo-Selz. Feder: & Stor. pfd. (7) extra. i1% extra. e el wiWhen fssued. 112% extia. FOREIGN EXCHANGES. (Quotations furnished by W. B. Hibbs & Co.) Nominat s *|Lariliard 6. Bolivar 7s'58. Bolivia 7s ctfs Bolivia 8s. Bordeaux 6s Brazil 6155 '26 Brazil 64827 1004 100% 100% 105 104% 1043 103 102% 103 9T 97 9T 86% 86 86% 100% 100% 100% 100% 100% 100% 9% 91% 9% B5% b65% 554 91% 91y 91% 103% 103% 103% 103% 103% 103% 108'5 108% 108% 35 34 34 30 30 0 100% 100% 100% 101 101 101 Tenn Cop 6s B"44. . Tex Corp cv s ‘44 Transcontl Oil 6%s United Drug 5s '53. U S Rub 1st rf 68 U S Rubber 7%s. Utah Pwr&Lt bi Utilities Pwr 6% Vertientes Sug 7 Walworth 6s "4 Western Elec b: Westn Union 58’ Westn Union 61s. Wickw Spen 1st. Wickw-Spen cv 7s. Willys-Ov 6%s '33. Wilson & Co 1st 6 Win RepeatAr 7%s 103 103 103 Youngstn S &T & 10214 102% 1024 RAILROAD. 32 9415 94 16 1311 130 5 88% 88 58 53 93 93 1% 91K 98% 98% . 78 100% 100 100 +++370 101% 100% 100% 19 10815 102% 103% 6 103% 103% 103% 2 104% 104% 104% B&Orfimp 6s. 15 109% 109 109 B & O PLEWY 4 2 93y 93% 934 B & O SW 5s'50. 2 103% 102% 1034 Boston & Maine §s. 113 100 99 997 Brdway&7Tth Av 55 28 281 281 Bklyn Elev 6% 9214 92% 924 Bklyn Manhat 6s. 99 9815 98% Bklyn Un El 5s sta. 88% 831 884 Buff R & Pitts 4%s. 25 93% 93% 93% 96% 95%4, Can Nat 4%s 54.... 7 964 96% Can Nat 4348 5’ 95% 96% . 95% 102% 15 95% 95 Can Nat §s, July'69. 17 102% 102 Can Nat 5s. Oct 69. 19 102 102 102 Can Nor 4%s’35... 8 100 100 100 Can Nor 6%s. 2 115% 116% 115% Can Northern 7, 11 111 110% 110% Can Pac 4%s "4 20 100 100 100 Can Pacific ctfs 6s. 10 102% 102% 102% Centof Ga 5sC59.. 5 101 100% 101 1105 106 105 Cent of Ga 5%s 6 103% 103 103 Cent Pac 1st 5 Ches&Ohio Corp bs. 18 1004 100% 100% Ches&Ogendifs.. 4 99% 99% 99% Ch. 04%s°93 9 9T% 9T% 9T% Ches& O 4%sB'95. 59 97% 974 97% Ches & Ohio con 5s. 3 103% 103% 103% Chi & Alton 3 7 0% 70% 70l CB&Qgen 48'53.. 93 CB&Q4%s'7B. 98 CB&Qlstrfss 106% 106% CB&QIll3Ys. 86% 86% Chi&E Illgn 68 6 84 T84 ChiGr West 48°'69. 2 69% 69% CM&SLP ret 4345 89 95% 96 Chi Mil&St P 445 C 96% 95% ChiMiIStP&P 68'75. 92% 92% CMSP&Pac adjss08 67% 66} 67 97% 97% 9TH Chi NW 43482037 7 42 100% 100% 100% 2104 104 104 2 108% 1081 108% 1 8% T8% T84 9T 9Th 9% 95% 981 98 1% 91y 5 99% 99% 994 10 103% 103'% 103% 16 89 89% 89% 5 1 100 100 98% 984 99% 99% 971 974 85 7915 831y 834 64 643 934 04% 943 95 924 86 8115 Colombia 6s,Jan ‘61 Con Pwr Japan 7s. . Copenhagen 41 s '6° Copenhagen bs rets Cuba 5%s. Czecho 8= '51 - Danish Munic 85 B. Denmark 5% '55. Denmark 6s. Pewa Atchison gen Atchdeb4l%s '43., At & Bir 4s'33. Atl & Dan 2d 4s '48 Atl Coast L 1st 4; 94% 130 Dutch East I 6s'62. 5 El Salvador 8548, Fiat 7s ex war '46. Finland 6%s. .. Finland s £ 6s "45. Finland 7s. . Framerican 7%s French 7s. French 7% German Bank German 7s Ger Gen Fl Greek 6s'63. Hait! 6s. AtICL4%s"64. B&Ocviks B&Ocvils B&Oref bs. B & O 55 2000 (D). B & O 1st bs ret; odnean ane aan Se2 103% 83 % 98 10315 1031 11% 11% 11 Lyons 6s.. Marseille 6x. Mex 45 1904 asnd. . Mex 451910 asst Milan 6%s. . Montevideo 7s. ... New So Wales '57. New So Wales 58. Norway 5s ‘6: Norway 5%s Norway 6s'43. Norway 65 °44. Orientdev 51 53. Orient Dev 6s'53. Paris-Lyons-M 6s. Paris-Ly-Med 7s... Paris Orleans 514s. Peru 6s'60. . Peru 6s Peru 7s Poland 6s *40 Poland 7s (rets) Poland 8s. N a 95% 925 4 Chi & Nw 6% Chicago Rwys o Janeiro 61 . Rio Gr du Sul 6543 Rome 6%s........ R'y’l Dutch 4% sww Sao Paulo 8336 Sao Paulo '50 Saxon (PW) Seine 78 *42 Serbs Cr Slov 7s. Shineyetsu 6%s 52 Sweeden 51 Swiss 51484 CCC&StL deb 4%s. Clev Term 4%s°77. 84 M NN AN NINE AR A AN AR IBNB AN E e NSNS NReOR R a0 Cuba R'R 68. CubaRR 7% Cuba Nor 5% Del & Hud 1st rf 48 Del & Hud 5%s. Den & Rio G cn 4; Den&RGW 58 '55 DR G&Wst 55'78. Erie 1st con 4 Erfe gen 4s. Erfe 5s, 1967. 68, 1975, Erie & Jersey 6i Erie conv Ex 7s Erie Genessee Rs 3 Toho El Pwr 1s. Tokio bs. Tokio 538 *61. Utd Kingm 5% s ‘37 Utd SS Copen 6537, Uruguay Uruguay 8s. Vienna 6s 52 Warsaw 78 ‘62 Yokohama 6s 1 MISCELLA Abitibi P&P 5s ‘63 Abramé&Stra Ajax Rubber © 95 925 86 811 95% 95% % 95 95% 0 112% 1128 112% 5101 101 101 s 2 113% 113% 113% Erie (Pa) clt tr 4 1101 101 101 FlaEastC6s'74... 13 57 56% 56l Gr Trunk st deb 6s. 20 105% 105% 105% Grand Trunk 7s. 12 111% 110% 111 GrtNor4%s(E).. 11 97% 97% 97% Gt Northern 5%s.. 12 1101 110% 110% Great Nor gen 7 27 111% 111% 111% Hocking Val 4% 19 981 934 98% Hud & Man adj 30 82 81w 82 Hud & Manref5s.. 22 98% 98 111 Cent 4% 5 '66 111 Cent Chi 4%s. I11-C-C-StL&NO & Int Rapid Trans b: Int Rap Tr 6s stpe Int Rapid Tra: Int & Gt Nor bs Int & Gt Nor adj 6s. Int Rys CAm5s... Kan City Ft S 4s... i 1 Am Sugar Ref6s.. 1 Am T&T cvéles'39 897 65 Am Water Wk 5s. Am Wrtg Pa 6s°47. Armour&Co 4% '39 Armour, Del5%s. . Atl Refining 5s Bell Tel, Pa. bs (B) Bell Tel Pa 58 (C). Bethlehm Stl pm 58 Brklyn Edison 5s. . Certn-Td 5%s rets. Chile Copper 6s. ... Colon O11 6s°38..... Col G&EI 5s,May’52 Com Invest sv.-los 2 48.. ConGasN Y 6%s. . Cuban Am Sugar §s Det Edison 6s 6: 4148'67.. East Cuba Sug 7%s Fisk Rubber 8s Gen Mot Ac Cor 6 Gen Pub Svc 5%s. . 89 91% 8414 6 9674 787 011 12 10 Y 77 21 101% 101% 1 7 90% 90% 904 7100 100 100 3 N8% 88% 88% 10 100 99% 100 2 108% 1084 108% 45 99 9813 984 2106 105 105 1 56% b55% 55% 3 933 9315 93y 4 100% 100% 100% 2 90 90 90 1 894 89 89% 12 87T 87U 8Tk 94% 94% 101% 101% 9% 79% 8 101 100% 100% 71 100% 99% 100% 11 100% 99% 99% 79 109% 108% 109 10 96% 96% 965 2 94% 941 9435 1 9 99 99 16 102% 101% 102% 4 81% K1 81y 2 9 95 95 11 91% 91 91 30 9K15 9K 98Y 18 99% 991 993 13 10ns 105 107 enLSciiles. 9 79 79 lg;h &StL4%sC.174 97 96% 96% &StLEW%sSA 3 107% 107% 107% 8 101% 101% 101% 3 102% 102% 102% 80 80 85% 85% 86% 86 9 81% 80% 81% 108 94% 9% 93k s 14 1281 1234 128% 2 106% 106 106 Kan City Term 4s, Lake Shore 4s '31. . Lehi Valcon 4s.... LehV gen 418 2003 Leh Valley 55°20. . L&N 41452003 M K&T prin 5s(A) . Mo Pacific gen 4s. . Mo Pacific 55 A "65. Nio Pac 6s F *17. Mo Pac 68 G "78.. Mo Pac 65%s 49 ev. Mob & O 4%s77. Montreal Tr 58B'55. Humble O & R 6%s. 2 NOTex&M5sB. 11i Bell Tel 1 111 Steel 4% s ‘4 Inland Steel ¢%4 ‘18 Intl Cement bs 48 Intl Match 58 '47 Intl Mer Mar Intl Paper 58 Intl Paper 6s. Intl Tel & Tel 4%s. 9 Intl T&T 4%scv.. 182 Int] Tel&Tel 68°'65. 77 Kan City P & Lt 6s. 2 Kendall 5%s'48 ww Cen rf im 4%, Cen ref b Loew’s, Inc. Loew’s 6s w 0 war. Lorillard 5s. b 71% | Mohi No 1AL, AGTIVITY IN STEEL - MARKET IMPROVES Iron Trade Review Finds Better Inquiry for Bars and Sheets. | Special Dispatch to The Star. | CLEVELAND, Ohio, May 2.—Market developments in finished steel are mod- erately encouraging this week, says Iron Trade Review, Cleveland. Im- provement in the automotive industry, while slow and practically limited to low-priced car makers, is manifest in slightly heavier specifications for strip, sheets and bars. Line pipe activity is heightened by a mild increase in gen- eral business and the booking of 150,000 to 200,000 tons of seamless by the Na. tional Tube Co. for the Missouri- Kansas Pipe Line Co, Formal inquiry by the Illinois Cen- tral Railroad for 2,200 cars, requiring about 25,000 tons of heavy steel, coin- cides with the best equipment order week in a month, bookings including 450 ore cars and gondolas, 800 under- frames, 66 miscellaneous cars and 13 locomotives. Pending ship work in the East entails 75,000 tons of plates and shapes. A spurt in structural awards, including 11,500 tons for New York sub- ways, more than triples last week's let- Nevertheless, there is an undercur- rent of opinion, more pronounced in the East than in the Middle West, that the iron and steel industry has spent its effort for the first half year and is heading into a mediocre midsummer situation. It is felt that whatever gains are made by the automotive industry will fail to neutralize the defections in other lines, notably the railroads. Sentiment, irregular all year, is unmis- takably in a trough this week. Steelmaking operations, which usual- ly at this season are at the year's peak, are generally unchanged. Price weak- ness, as disclosed by the ninth consecu- tve decline in the Iron Trade Review composite to the lowest point since early April, 1922, was accentuated this week by further concessions in sheets and a reduction of 50 cents a ton in pig iron at Chicago, to $19, furnace. Iron apd steel scrap prices in most districts have given further ground, and in many fin- ished steel lines there is listlessncss and a marked lack of support. BUSINESS FAILURES LESS IN 5TH DISTRICT Special Dispatch to The Star. RICHMOND, Va., May 2.—Fallures in Lhi R‘.’lchmogd :.hfllicbxlor Aflgfll fi only dropped sharply from the pei month of March, but for the first time in a year the assets exceeded the lia- bilities in volume, according to the monthly report of Frank H. Atwill, spe- cial bankruptcy counsel for the Retail Merchants’ Association of Richmond. For the first time in history the fig- ures for a fiscal year for the Richmond district were made available by Mr. Atwill. The tabulation for the 12 months shows a total of 789 bankruptcies, with liabil- ities of $2,744,177.36 and assets of $801,~ 590.79. The number of bankruptcies in Richmond alone amounted to 629, with liabilities of $1,774,175.23 and assets of $104,132.70. The average liabilities for the district amounted to $3,486.81, against $2,661.65 for the city. 1n issuing the March report Mr. Atwill predicted that the peak had been reached and that the April figures would show an improvement. A decline from 84 to 64 bankruptcies was the record for April. The April liabilities amounted to $223,320.20, against $275,70331 in March. The assets for April amounted to $225,268.10, or nearly $2,000 more than liabilities. In March’the assets amounted to only $127,765.82. CHICAGO DAIRY MARKET. CHICAGO, May 2 (#).—Butter, 10.- 299 tubs; easy and unsettled; creamery extras, 36; standards, 36; extra firsts, %a35% ; firsts, 32a34; . , 31,240 cases; easy settled; extra firsts, 2312a24; firsts, 22a2215; ordinary firsts, 21; storage packed firsts, 25; storage packed extras, 25%3. —e BANK CLEARINGS. NEW YORK, May 2 (Special).— ‘Today. A vear ago. New York bank cleart . $1,621,000,000 $1,549.000,000 $165,000,000 $151,000,000 160,000,000 INVESTMENT TRUSTS NEW YORK, May 2 (#).—Over-the- counter market: 149,000,000 Assoc Stand Oil Bankstocks Hold Corp. Basic Industry Shares S5 IE it 50 Penna &s Penna 615 5 Penna O&Det 4%s. Peoria E 1st4s.... Pere Marq 1st 48 109% 108% 97% 9T% 861 861 901 90% 9815 98 104% 104% 29% 29% 99% 99% 100% 100% 100% 100% 104% 104% 9% 99% 101 100% 98 98 91% 90% 94% 9314 1034 103% 10_\[ 100% PortEIPLSs..... Port RL & P 68’42, Port R L 68’47 Port RL&P 7% Reading gen 4% A. St L IM&S gn 5s 31. StL IM&S R&G StL & SF pl 48 A 17 35 San An&Arn P Seaboard A L 4 Seaboard AL ref 6 5 Sou Pac 4% #'69 ww 13 Sou Rwy gen % 91 91 109% 109% 109% 9118 118 118 124 123% 128% . 7 &O04s 10 94% 94% 941 2102 102 102 2 104% 104% 104% 8 102% 102% 102% 7 49% 48% 49% 28 28 28 0% 9% 9% 95% 96% 95% 90% 904 90% 91% 91% 91l % Sou Rwy Mo Term Asso StL Tol StL & W 45'50. Union Pac 1st 4 Union Un Pac 1 and withdrar from business. ‘Warren Bros. declares quarterly divi- dend of 75 cents on new common stock, placing issue on $3 annual basis. and equal to $9 on old stock, split 3 for 1, fancy shade higher; new stock, trading light; market weak; Texas, sacked, Bliss Ta,umnhl. mostly around 4.60; some 4. sued statements showing gains in ear ings for that period compared witl year. companies are the ( Cork Co., the Commercial ¢ Co., the Pinance Co. of America anc Consolidated Gas, Electric Light « Power Co. Lorillard (P) 7s. Lou Gas&El §s '62. Manati Sugar 7%s. MecC'rmek ER 68'34 Midvale Steel §s... 27 Montana Pwr '43... 2 Nat Dairy 53 22 Nat Radiator 2 N Y Edison 5s 1 NYG&EHP 5 94k Union Pae 4% Un Pac 1st ref Virginia Ry 1st §s. Va Ry & Pwr . 8 99 981 99 v Wabash 4%#'78 ret Nor Pacific 58 (D). 3 105 105 105 Nor Pacific raf68.. 59 113% 1183% 113% | pyaneem i co Ore Short L con bs. 5 105% 105% 105% 'West Md §%. 2 99% 99% S Penna ¢%s 19’ 347 96 96% 96% WisCengnisdd... 1 804 80% 80 CHICAGO, May 2 (#) (United States Department of Agriculture) —Potatoes, 43 cars; on track, 245; total United hich was paid. States shipments, 725; old stock, trading i i el very slow; market dull; Wisconsin, SILVER QUOTATIONS. sacked, round whites, 2.85a3.00; occa- NEW "t sional fancy, shade higher; Minnesota, YORK, May 2 (P.—Bar sllver, __, . round whites, 3.1042.90; Idaho, 14 98% 98k 981 1 108% 108% 108% 6 105 104% 105 10 101 100% 100% 46 4% 94 9 96% 69% 94 94 94 66% 66% 66% TREASURY CERTIFICATES. (Reported by J. & W. Seligman & Co.) Bate Maturity 31 Nor Pac 4%82027. . GAINS IN EARNINGS. BALTIMORE, May 2 (Spééial) —Fol- s lowing & long string of unfavorable! Switzerland will have old-age )en earnings reports for the first quarter of sions. June 16, 1930. Bept. 15, 193¢ Dec 15, 1930 4“ ..