Evening Star Newspaper, May 4, 1930, Page 82

FINANCIA BOND PRICES FIRM INQUIET MARKET Speculative Issues Most Ac- tive—Railroad Group Reg- isters Slight Declines. BY DONALD C. BOLLES, Associated Press Pinancial Writer. NEW YORK, May 3.—The customary . dullness marked the short Saturday ses- sion in bond trading today. Prices generally were steady as trading de- clined. The greatest activity was in the #peculative issues, some of which showed independence from the bearish affects of stocks, and in high grade rails, and & few select industrials. The price trend in the rails was slightly downward. Rock Island 4!3s, Missouri Pacific 6s, $t. Louis, San Francisco 4'2s and Bouthern Pacific 4155 sold off from % to 3 points. Forelgn bonds were generally un- changed. The trading in United States Governments was dull. 600D EFFECTS SEEN IN LONDON RATE CUT Recovery of World Industry Pro- ceeding More Slowly Than Acknowledged. $7 Cable to The Star. LONDON, May 3.—The stock markets taking s very conservative view of :: direct effects of the Bank of Eng- fand’s decision to reduce its discount rate to 8 per cent. In the gilt-edge markets, however, this step will certain- ly counteract the slow but persistent ecline in values, brought on by the budget, which was jeopardizing the pos- sibility of the 5 per cent war loan con- wversion operation. Under a3 per cent rate government gecurities are likely to be put on & Desis just making feasible. efforts to con- vert two or threp hundred million of the war loan on & 4!z per cent basis, or just under the basis of medium dated stocks. ‘The consensus of opinion is that a large operation is not practicable, but the treasury would consider the above possibilities well worth while. On the industrial markets the cheap- ening of money is likely to have mue effect. A more pessimistic tone has been gradually spreading all over the market, confirmed by the views that the re- eession in New York is no mere tem- ry set-back. It !l naw mdem that the recovery of world industry is proceeding mm glowly than the bulls previously had acknowledged, while in Great Britain mmnolmthlbthebomhfl been touched vet, apart from purely seasonal conditions. Cheap money, which is now mzer:m mly .m:gr &lnmt.hn ahead, will mat e re- covery when once initiated, but it will be weeks yet before this can begin to take effect. NEW YORK COTTON Week End BSelling Forces Down Values at Short Session. NEW YORK, May 3 ().—Ootton ) Jower today under week end uu\udnlm. Southern and local while & larger proportion of the busi- ness was in the new crop months. ‘There were buying orders for May at 12 points under July, which main- tained the difference at ;bout. that fig- ure, but July was sold a little more eased to 16,28 or freely and the price eased to 16.38 or declined from 14.60 to 14.39 or 18 points below yesterday’s closing quotation and lln"{:lw were within & point or two of lowest on most months. May finished 178 points over the new Octo- ber, com ared with 181 points at the Dt!vleul day. P\Ihu‘. closed barely steady, 15 to 20 points lower; May, 16.19a16.20; July, October, 14.68; December, B .Ymun.ry 14.86a14.87. New contracts—October, 14.41a14.42; Decem- ‘ber, 14.50; January, 14.59a14.61; March, .73, Spot, quiet; middling, 16.40, NEW YORK, May 8 (#) —Per share tions reporting this with comparisons for the cor- ‘week, Tes, period of last year, include the : 3 Tnion Ol .44, preferred. o8 SUITOR KILLS HIMSELF AFTER WOUNDING GIRL Young Chicagoan Fires After She Breaks Engagement at Mother's Request. By the Associated Press. CHICAGO, May 3.—The tragedy that s love ended last night for Arthur Brown and Sally Cuta in the rose gar- @en of Humboldt Park. ~ Brown is dead by his own hand. Sally near death from a bullet fired by wn before he turned the pistol on 11, ey had met in the rose garden to good-by. Sally is only 17—too her mother said, to think of . Brown, flve years older, re- to accept the situation. g to her mother’s wishes, 8o e the break final by tell that the reason for breaking the ment was another man. garden heard Brown say: “If I can't have you, no one can.” Then the sound of shots. Ratchevsky Presents” Papers. PRAGQUE, Czechoslovakia, May 3 (#). Ra American i THE SUNDAY STAR, WASHINGTO! 2 g e UNITED STATES GOVERNMENT. High. " Low. 100.19 98.26 Lib 318 1932-47. 101.28 100.10 Lib 1st 43 s 1932~ 106.17 108. 109.4 11314 109.2 Bank of Chile 638 ‘57 Bank of Chile 6 Belgium 6s ' Belgium T%s Belgium 8; Bolivia 7s ct ‘69 Bordeaux 68 '34 Brazil 6148 1926-67. Brazil $s'41.... Chinese Govt Ry Colombia 65 1961 Duteh East Indies 6563, Fiat 78 '46 war. Finland 7s ‘60 1124 French 784! 118 French T%s'41. 8415 German Bank 65 1938 106% German 7s ‘49 81 Greek 65 196 96 Irish Free State 94% Italy 78 '51. 101% J exe 6% 92 Kreug&Toll bi 11% Mexico 4 102% 974 Netheriands 6s'72. . . 'w South Wals rway 5%s. Orfent Dev 5% 3 '57. Paris-Lyons-Med Paris Orleans 5 %8 nu Peru 6s ' Peru 7s. Serbs,Croats&sl: Serbs Croats Slov Swiss 54846, . Toho Elec Pwr s Utd Kingdom § Uypuguay 6 1"0. Abram & Straus 5% s'43. . lol!( Alleghany Co cv b8 "44. Am Internation 6%s ‘49 Am Natural G 6% Am Sm & Ref Atlantic Ref deb bi Bell Tel (Pa) ref Beth Steel p m bi Certain-teed 5% s 1948, Chile Copper 58 "47... Colon Oil 6s°38. Comm Invest deb 63 "48 Con Cosl (Md) 1st ref bs.. Detroit Edison ref 65°¢0, General Cable § Gen Motors 6s '3 Goodrich (BF) 6%4s'¢! Goodyear Rub 55 1957 Humble O& RE¥s‘33... Inland Steel 4 %n 1978 Inter Cement 6s ‘48 Inter Match 58 '47 Inter Mer Marine Inter Paper bs A Int Tel&Tel ov 4%8 Kendall 5%s"48 (w: Northern States Pow Pacific Gas & El 6842 Pacific Tel & Tel Pan-American 6 Para-Fam-Lasky Philadelphia Co 6 Phil&Read C&1 Postal Tel & Cab Reming-Rand § % Sinclair Of Sinclair Of] Sugar Est Or Tenn Copper Transcon Oil ¢ United Drug 6s'53. U S Rubber 1st & ref USRub T4s'30.., Special Dispatch to The St BALTIMORE, Md., May 3.—The live poultry market is a shade easier in tone, but under generally light receipt. | Prices show little change from last week | and all desirable stock cleans up readily at full quotations, especially Spring chickens, 2 pounds and over, which in some instances will Bring a premium over quotations. Mixed colored pring chickens, 2 pounds and over, are ing 35838 & pound and smaller qu while Leghorns seem mostly 26a32, as and quality. Old hmu. , 3 poinds over, in fairly good d at 27a38, but Leghorns not so m 2“!‘_ while all povr thin fowl as well old slow sale at 18a20. Bpflnx ducks, 4 pounds and over, meet with ready sale at 25‘2!, but old ducks not so desirable at 19a21, while small and poor ducks are neglected at 15a16. Market for guina fowl and pigeons holds steady at 50a75 each for the for- mer and 30a35 a pair for the latter. ‘The local egg market is also easy, with prices mostly in buyers’ favor and values a shade lower under liberal re- ceipt and only a fair consumptive de- mut of the ueelpu being taken the packers for storage. The mnkfi closed today at 241z cents a dozen for firsts, with hennery vhlh firsts bringing & premium of & eent a Vegetable Prices. ©Old potatoes in liberal receipt from all sections and the market has a de- cidedly weaker tone at 3.00a3.25 per 100 pounds for No. 1 siock and 2.40 for ungraded. Market for sweet potatoes and yams holding steady, with demand centered on good, bright stock at 3.50a 5.00 & barrel for the former and 4.00a 5.00 & barrel for the latter, but un- tnd-d stock is generally slow sale at gh. 12 100. 100.11 . Low. Close. 10110 101.18 10118 1022 10010 100.26 100.12 101.30 104.22 105.6 107.6 107.26+1. 1118 111.29 98 87w 961 9% 1413 128 9% 90 100 96% 95 91% 98% 101% 101% 102% 108'e 102% 99% 103 100% 8% 99 98y 99 90 91 108 104% 93U 95% 9% 98% 101% 102 115 116 LI+s1+ K - I\||+l g E FELEF FEES 109% 110% 100 100% 104 104% 101% 101% 102 102 106 105 5 100 100 117% 117% 122% 122% 88% 91% % 107% 108% Bl 1 #x Chi Gr Chicago 7Y% 98 98 983 108% 104% 97% 984 1% 1% 0% 91% 104 87% 100% 101% 20 90% 102% 108% 1013 101 TM% 9% 94% 95 94 94U 100% 101 106% 106% 105% 106% 89% 89% 1100 100% 7% 76 90% 91k 101% 101% 107% 107% % L 5 Krie con 104% 104% 100 100% 104% 105 98 984 86y 87 M 18 96% 96% P+ ++ 11 L+ &®1+1 - "8 sree seEess Atch T & S Feadj 48 'u Atch T & S F gen B & O gold 48 B&Ocv4lks's B&Orefbs'95. B&Oref5sD 2 Balto & Ohlo bs 48 Balto & Ohlo 65 *9 B&OPLE& B& O S W Div bi Bangor & Aroos Boston & Maine 6s 67 Broadwy & 7Tth Av 68'43. Brooklyn Manh I1st6s A.. Canada National 4 Canadian Natl 4 % Canadian Pacific d Central Pacific 48 Chi B & Q ref Ch & East Il Chi M St Ph Pb Chi M St P & P ad) 5 Chi& N W 6% Chic Northwest 7s ‘30 27 Chi R1& Paoref ¢s'34.,. ChiRI&Pac4lswi Chi Union Station 4 Chi Union Station 6 Chi & West Ind con Chi & W CCC&StLbsD. Cleveland Term 6s B '73 Cleveland Terminal 5% Colo & Sou ref 434536 Cuba North §%s 42 Del & Hudson 5%s ‘37 Den& RG We Den & R G West b Des M & Ft Dodge Detroit United 4343 'n. . Erie 1st con 45 '96. Erie gen lien 4s'96. Walworth 68 ‘45 Walworth 6% Western Union Wilson & Co 1st Youngstown Steel RAILROAD. EFFESETFESFEEER S“. I AR TR *+ F . it le FagE E ‘36. Rys b ne t Ind 638 ##‘fft"#f#i#fi FESEESIEFFESE i+l 4l ++++ 14+ L1+ 140 4+1+1 1+ 53 1830.. Flor East Coast s '74 FondaJ &G 4%s'52... Grand Trunksf dtb L] Hud & Man ref 68 '67. Iilinois Cent ref 4 Illinots Central 4 Inter Rapid Tran Inter Rap Tr b s 102 102 100% 100% 106 105 1 - * + % - % -1% - ‘K 88 - 100% 101% — u 1031 108% — % 160 160%—10% 108% 104% 80 81 ® % 1% 824 83% 101% 101% 106 105 101% 101% 50% B0% 94% 95% 3 85 101% 101% 106 - * llL\#l L1444+ 1444+ 1+ 2 £S5 FESEEITEREEESE EEFSESESS - 4 102% 104% I+++1+1 14+ 4+ - » EFEF 8% 9% 26% 26% 105% 105% 118% 114% 99% 998 106% 106% 102% 102% 100% 1013 101% 102 104% 105 102% 108 FREEFLL Bsx Soutl Tl 441 +4 1 +4+++4 14+ = - Al 108% 103% 99% 100 98 98K 104% 104% 102% 103% 96% 9T% 36 36 100% 100% 101% 101% 9% 96% 86 86 100% 100% 100 100% BE E FFERFF 1++ + Wabash Wabash ‘Wabash gen easy, but values show little change from last week under light receipts on the wharves and only fair at the stock yards, Demand is centered on first qual- ity stock, while all common to ordinary cattle is slow at inside prices. Q nhtimu today at Light street 3'2; hogs, ive plu' 12a18; shoats, 10812, Closing Grain Quotations. , No, 2, red Winter, export, 02% ; No. 2, red Winter, garlicky, spot, dnmesuc 1.09%; corn, No. 2, yellow, spot, domestic, 90a91; cob corn, 4.75; oats, No, 2, white domestic, 54a54%; nominal, No. 3, white domestic, 52'2a53; nominal rye, nearby, 80a85. REFORMATORY BANNED Detroit $o Abandon 17-Year-01d| the House of Correction. DETROIT, Mich,, May 3 (#).—Speedy abanfonment of the 70-year-old De- troit House of Correction, which has a population of approximately 1,600, was ordered yesterday by city council, which was spurred to action by the Ohio Penitentiary disaster. The prison has been denounced again and again as ‘l!t North Pacific 3s 304’ 4 North Pacific 'I North Pacifie North Pacifier 1 6s Ht’ Ore Wash 1st St L Iron Mt gen SLIM&SR&QG StL&SFpr StL&ESF 4% StL & San Fr bs St Louis S W eon StPKCS Line ¢ Seaboard A L ref Seaboard A L adj Seaboard A L con South Pacific col South Pacific ref South Pacific 4%8 Southern Ry gen n Ry 1 Southern Ry South Ry dev 6% ot firetrap. Separate cell locks and other ;nm wpuvsfl lncft.. emcnu have been made for immediate .mmdmwmum Inter Rapid Tran 63 Inter Rapid Tran ov 7. Int & Great Nor adj 6s. Inter Ry Cent Am 63%8. Kan City South 88 195 86% Lehigh Val cn 482003 Louls & Nash unt ¢s Market St Ry 7s A "40 MIEIR&L1 3 Mo Kan & Tex ad) Mo Kan & Tex pr In 6sA. Mo Pacific gen 4s°75. e - - FEFRELESESELE KSR SEERSF - Ihdttes & GotirtE LRI FIELSLELUTEl Lt tes 14441 L REFESF SERFLER ¥ FEFEREF 410 +4 e EER FF Virginia Ry 1st Va Ry & Power 1st58'39. 58 B1976..... 53875, West Maryland ¢s ‘53 West Maryland 5% s '7 Western Paoific bi West Shore 1st 48 3 By the Asseciated Press. The Rock Island Rallroad reports April car loadings of 147,085, compared with 152,749 in the same month last ¥ Chicago Northwestern, 149,898 last month, as l‘llm‘ 177,208 in Apfll 1929, and the Chicago, Indianapolis & Louis- ville, 22,059, against 25,084 in April last year, oln,o«fiu-vuk-u inerease of 39 over the Employment for the same year totaled 46,998, b.‘llb‘ 3, an Retrigerating the Indianapolis Union has erdered four switching locomotives ! | ordered 300 underframes Western Pipe & Steel Co. low Municipal finanof for next nwg. m‘“fi.‘&fl.?li m 131, 0)0 And fiu ".;:l . Iaress M for mext Wotk $19,775,000 Westchester County, bonds on Wednesday. Legislators Exchange Blows. PRAGUE, Czechoslovakia, May 3 (#). —Socialist “and Communist deputie: came to blows in the Cszechoslovakian | Parliament yesterday during debate over & scheme for workmen's insurance. Depunu Stern, Katz, Kaufmann, H- ‘The session was by the speaker. p & Dohme...... Sharp & Dohme pf (3%) tuck (F G) ('l“); o Shell Unfon (1.40) . Shell Union Ol pf Shubert Theatres. Simmons Co (3) Soouthrn DairiesA (1 “) Southern Dairies B. Southern Pacifio ( Southern Railway ( Southern Rallway pt(l). Sou Ry M & Ohlo ofs(4). Spalding (AG) (3)...... Spalding A G 1st pf (7). 1 Spang Chalfant & Co. Spang Chalfant pf (§) Sparks Withington (1).. Stand O of Cal (2%). Stand Oil Expert pf (§). Stand Ol of Kansas (2). Standard OIL NJ (13)... Stand Plate Glass pf. Stanley Co of America. Starrett (LS) (12%), Sterling SecA)........ Sterling Secur pf (1.20). Sterling Sec cv p£(3). .. Stewart-Warner(h 3%). Stone & Webster (4).... Corp ($)eeae Symington Class A. Telautograph (11.30) ‘Tenn Copper &Ch (1) Texas Corp (3). Texas Guif Sulphur (4). Texas & Paoifie (§). Texas Pacific C & O Pag¢ Land Trui Thatcher Mfg (1.60). ... The Fair (2.40). The Fair pt (7). Third Avenue Truscon St (g1.] Twin City Rapid Tr Twin City Rap Tr p£(7).. Underwood-Ell-Fish(5). Underwd-EIN-F pf ( Union Bag & Paper. United Cigar Stor United Cigar pf.. H] TRI+++IF000000IE+0 00+ “eRRER P CrasBe@ER = 3 D. O, MAY 4 1930—PART BSIX. o & & P TR F & po-eg-een ¥ ¥ IR AR A R R S RN N R RN g 1+ o-e RRRREE} I+ i PeedsPisis [E IR N NN} " L Fele” PRsELFER IEXR¥) l" 104% 117% 113% L "R 28" “F +ERRP°RET" T "t 4 41801000 1 22 1% % [REREENEN} - wed ¥ We Take Pleasure in Announeing Thet Mr. M. Parker Nolan is now associated with we as eur Utd Gas & Improv (1. n) United Gas Imp pt (§) United Paverboard...... DYQ‘W @)... Pipe&Fy 2d pf 1 Realty & Imp (5. U 8 Steel Corp pt (1) . 604 U 8 Tobaceo ( Universal Leatf Tob (l) . Univ Leat Tob pf (8)... Univ Pictures 1st pf (l). 2% Univ Pipe & Rad. Uti] PwrALt A (o2)- 5000 Sales Vanadium Steel (14). 48% Vam Raalte pf...... Vick Chem Co (3%).. Vieks Shrevpt & Pac(b). Virginia-Caro Chem Va-Caro Chem % of. .. Va Elec & Power pf(6).. 103% Virginia B1 & P pf (7)... 110% Va Iron Coal & Coke (pf) Vulean Detinning (4)... 121% 97 Vulean Detinning A (4), 120 28 Vulean Detinning pf (7). wnbnh Pt B (5). Waldorf System (1%).. Wi Warner Bros Ple (4). Warner Bros P pf (3.20) ‘Warner-Quinian (1). Warren Bros (3)... War'n Bros 1st pf (3 ) n. n Wm Penn Power Df(l). 117% Waestern Dairy A (4).... Waestern Dairy use B & M(5) 194% 'ulil‘hl. E&M pt (5) 188 1) Weston Elec Inst West Vace Chlori White Sewing Wilcox Ol & Wilcox & Riel (A,; %.. gton Pumn B(§) w}lnt Aeronautical FINANCIAL. 2% noh - “ - 1% 29 ¢ - % 28 - 1% 102% + W 110 38 38 -1 -25 -27 LN . - ADV: - szx- 109% 110% + 108 108 116 116% + 49% 49% 18% 18% — 24 24w -~ 160% 160% - 3"/- 74 -22 Youn, Youngston uu'ru) no Zenith Radi 14% l-l(lll'll—ll?llll. First Mortgage Loans hmo%un Commonwealth Investment Co., Inc. 000 16t St N.W. Fhone Natioma) 3623 AUTO INDUSTRY NOW WAITS FOR DEMAND Detroit Sees No Important Ime provement in Business for Several Weeks. Special Dispatch te The Star. DETROIT, May $8.—Automobile pro= duction during ~the March quarter averaged 68.1 per cent of the output for the first three months of last year, while production of individual makes ranged from as low as 39.1 per cent for the Willy-Overland to & high of 854 per cent for the De Soto car, analysis of statistics furnished by the various mak- ers reveals. The total production for the first quarter of this year was 971,584 cars, against 1423217 during the first three months of last year. The figures are said to furnish a fair picture of present econditions in the automobile industry. It is reported that the 8pring demand which had been de- pended upon to brace business up has not materialized. It looks as if there will not be any change worth speaking of next Fall, if then. Production in the aggregate was less for each month of the March quarter than for that month last year. In the case of March the decline was greatest of the three months, with & drop of 33 per cent. February output decllned 31.3 r cent while that of January was off 0.2 per cent, compared with last year. Reports of trade conditions made to automobile companies indicate an ir- regular trend of new car demand, with increases from some parts of the coun- try slightly more than offset by drops reported from other sections. The velume, however, is sufficlent to keep factories operating at a steady rate with prospects good for continuance, the output representing generally lower- ed schedules from those of one year 2go. - Ohio Teacher Drowns. NEW SMYRNA, Fla., May 3 (#).~-Miss Annie Lotta Kinsel teacher in the Wallett Hill public schools of Cincin- nati, drowned here yesterday after she ventured too far from the shore during her daily swim in the surf. She was on ick her teaoh: duti ~ INCOME INVESTMENTS INVESTMENT DEPT. BRODIE & COLBERT Ine. 1707 Eye St. N,W. National 8875 First Mortdada Logn Applications Invited at 5)5% Construction Loans Glover & Flather 1508 H St. N.W, National 1753 MEMBERS OF Fidelity Building & Loan Association Are On . Receiving 7% Savings and fully participate in surplus earnings Mail coupon for information " Fidelity Bldg & Lown Avem. 200 Natl. Press Bldg ‘Washing D. C. NEWe ' ioosngseisnis casmemnstincs Hrmu 0 Loan Conn”uul for Insueasse Co. of America Address ...cecoriscovaionsimpunnss FOR THE INVESTOR Washington Representative Washington Bldyg. Moetropoliten 0826, B. F. 925 15th St. N.W., . H. W. Brigge ¥ Co., Ine. 44 Wall $t.. Now Yerk Apartment House MANAGEMENT An investment of $100,000 in a manufacturing industry under the control of an inex- perienced manager could met be expected to yield a proper in- come; no more can a satisfas- tory return be expected from an apertment placed In inex- perienced hands. SAUL CO. Nat'l 2100 M O R:T G A G B OF MODERATE RESOURCES You will enjoy exactly the same security and the same re- turn of interest as those of un~ limited means when your funds are placed in our FIRST MORTGAGES That is one of the convincing arguments in favor of their adoption as a channel for your investment money. They are non-diseriminatory and minus every speculative element. You don’t have to be a “sea- soned financier”—you are as- sured of safety. May be purchased in amounts from $250 up. Over a« Third of @ Century Without a Loss * B. F. SAUL CO. National 2100 + 925 15th St. N.\W, THERE 18 NO SUBSTITUTE FOR SAFETY