Evening Star Newspaper, May 5, 1930, Page 15

FINANCIALD, CURB SHARES SLIP 10 LOWER LEVELS Heavy Liquidation Again Confronts Market, but Bet- ter Tone Prevails. BY JOHN A. CRONE, @pecial Dispatch to The 8t NEW YORK, May 8.~The curb mar- ket today absorbed tremendous lquida- Slon and dropped, at a much slower pace than on Saturday, t0 new low ground for the year, The selling at the opening, which ranged from 5000 to 60,000 share blocks, while heavy, did not,reveal the signs of semi-panic that prevailed last week, and prices slid off -in small amounts. OCities Service, for instance, sold in a 60,200-share block at the openlng, but was only % off at 30%5. ‘There were spasmodic bursts of su) Fon which time after time brought ti o ist back almost to its Saturday closing levels, Then the selling took the lead again and prices siumped. The market hM & very mervous arance. Besides the 80,300-share opening of Cities Service, other large blocks thrown onto the floor at the time included: 25,000 shares of Electric Bond & hare, off 13: 22,500 Missouri-Kansas Pipe Line, unchanged; 15,000 American Suj wer, off %; 13,000 Niagara Hud- on_Power, oft 34; 6,000 United Light & Power “A” up 15, and 5,000 Ford Motor, Limited, off 1 Generally !‘pelklnl “the public utulli- ties took the heaviest pounding, with the olls, trading corporations and avia- tion shares participating in that order. American Gas & Electric opened off 3 points and retraced most of the lost ground. So did Central States Electric, Shiadie West Utllities and _Utilities Power & Light. Brazilian Traction, Electtic Power Associates and Long Island Lighting rematned unchanged or registered fractional advances as the numerous rallies came and then evapo- Tated. Cities Service was the center of the battle in the olls and ran above its Saturday close a number of times after opening lower. Qulf Oil of Pennsyl- vania fluctuated similarly. New lows for the year were made by Indian Ter- ritory Tlluminating A ‘and"B and Hous- ton Oil new. The Standard ITWD gave no better account of itself. Humble Ol made a small gain, while International Petroleum, Standard’ Ofl' of Indiana, Standard Ol of Kentucky and Vacuum acted poorly. ‘Transamerica dropped to & new low for 1930 in the trading corporataions p. United Founders was again the viest seller and touched a new low for the year at 29, later recovonn! somewhat. Had to contend with a fi of bearish rumors regarding ea of the industry for the first four months of the year and all were weak, with the single exception of Douglas Aircraft. ‘Gas company stocks also moved lower. Mexico Produces More Silver. MEXICO CITY, May § (P). —The hfl in the price of bar silver result increase in Mexico's pmducuon or the metal in the latter part of 1929, gov- ernment reports reveal. had to be produced because of the m:r prlce !n order to keep the mines 'king. The total yeln production vln 38,381,038 kilograms. BONDS ON THE CURB MARKET. High. Low. Noon. Pq’;v:q'u ‘nva g'fn ‘a‘& mer” For, Fow | i §.§ | 33888 snsreSrattte & i Zageenaten i ash o5 D idort Astor 78 93 W Bow B 180 103% Eenn Bs 2030 wi s Tex UL 85 A '67 91% NOTE-~The New York Curb Market Is now operating on daylight saving time. Notice~All stocl excepti which .fi ~Prev. are sold those designated 1030. Stock and Low. Dividend Rate. 8 Aero Supply (B).... 13% Aero Underwriters., 19 Agfa Ansco... ) 21% Ainsworth ($2% ). 1% Alexander Indust... 4 Allegheny Gas . 16 All Am Gen Corp. % Allied Aviation. .. 9% Allied Mills (80¢). . * 14 Allied Motor Ind(1). 275 Aluminum Co of Am 108 Aluminum Co, Ltd 4% Am British & Cont. 84 Am Capital pf (3)..+ 37% Am Cit P&L(A)(a3) 14 AmCP&L(B)(10%) 28% Am Com I'(A) b10%. 341 Am Cwith P(B)10% 8% Am CO'with Pwr war % Am Control Oil Flds. Am For Pwr(war) 113% Am Gas & klee (11). 105% Am Gas&klec pfi6). 10 Am Invest, Ine (B).. 4% Am Invest (war) 2256 Am LidTraoct (10) 69 Am Li&Trac (n) 31% Am Maize Prod (: 1 Am Maricabo T4 Am Natural Ga 18 Am St Pub S A(1.60) 28% Am Superpwr (1)... Y4% Aun Super 1st pt (6). 3% Am Thread pt Am Transtor (1. 10% Am U&Gen B vic 4ve 3l Am Yvette (n) wi... 9% Anchor P F (b10%). 15% Anglo Chil Nitrat 12 Appalachian Gas 56% Apponaug Co. (2) 9% Arcturus Rad 1 s% Arkansus Nut G 8% Ark NatGas (A). 1% Asso Dyeing & Pig.. b% Asso Elec Ind (3uc) . 44l Asso Gas & Llec (n). 361 Asso Gl (A) 12.40. 7 Asso G&LE (A) dbris 1 Asso Laund (3200).. 4% Asso Rayon. . 39% Asso Kayon pf (8).. 4 Atlanuckruit & Su % Atlantic Lobos. 15% Atantic Secur C zl Atlas Plywood (2) 14 apiias Util Corp. ot Redo Music (A) (1).. 9% Aulo Vot Ma ov pt pt 24% Aviation Corp of Am 1244 Aviation Credit Bellanca Alrerat, Blisa Co (8 W) (1) Biue Ridge Corp. Brazil Trac & Lt (1), Bridgept Mach (25¢) Buft,N&EP pf(1.80). Butler Bros (30¢)... Bwana M Kubwa. Cable Radio T v.t.e... Cabie&Wire (B) rcts* Canada Marcont. ... Can Pacific(new)w.l. Carib Syndicate Cent Pub Sve. Dol Lun PS(A) (al76) Chain Stores Stack.. Charis Corp (13). hm Phoe Al n-v. Chem Nat A880 n-v., Ches & Ohlo (new).. Citles Service(330¢), Cities S5rvo pL (6)..a City Mach&Tool(12), Cit Sve pf B (60¢)... Citles Sve P&L pf(6) Clev El Illum (1.60). Clev Tractor (1.60). Club Aluma Ut Colon Oil Colum O] Columbia Pictures. . Colum Pictures v.t.e. Columbia Syndicat Com’with Edison(8). Com’'with & Sou war. Comm Wat Serv b6 % Consol Alrcraft..... Consol Auto Merch. . Consol Copper. . Cons Dairy Prod (7). Con Gas, Balto(3.60) Con Gas Util A 2.20.., Con Gas UtilB v.t.e., Cont C&E1 pr ot (1), Continental Oil. ... Cooper Bessemer (2), Copeland Prod,Inc A. Cord Corp. ... . Corroon & Reynd Cor & Rey pt (A)(l). Cosden Oil..... Cosden Ol DL (7). um Courtaulds (50¢). Creole Petroleu: Cresson Consol ( Crocker Wheeler. Crown Cent Petrol. . Curtiss Wright war. Cusi Mex Mining. . . Darby Petrolm (1).. Dayton Alr & Eng. Deere & Co (11.20) Deere & Co (16). De Forest Radio. Dixie Gas&Utilities, Douglas Alr (76¢) Dres(SR)Mfg A 3%. Driver Harris(new). Dubilier Cond & Rad Durant Motors 3 Duval Tex Sul Wb, » Eastn G&F Asso.... Eastn Sta Pwr B(1) Bastn Utll Asso cv.. Eastn Utl] Asso (2).. Eastn Util Inv (A).. Eisler Eelectric(1%) El Bond & Sh (b6). . El Bond & Sh pf (6).. Elec Pwr Ased (1).. Elec Pwr Asso A (1) Elen Pwr & L op war Elec Shareholdg($1) £l Sharehold pf (6).. Emp G&F cu pf (7)., Empire Power (2)... Emp Pub Sv A(1.80) Employ Reins(1%).. Engineers Gold. Ex-Cel AIr&T (1.20). Fabrics Fininshing.. Fagol Motor.... Fajardo Sugar...... Fandango Corp...... Federal Screw (3)..,. Federat Metls(t134) Fiat receipts (1.25). Foltis Fischer Co; Ford Motor. Can(A). Mord Motor, Can(B) Ford Mot of France. Ford Mor,Ltd. 37 je. Foremost Dairy Pr., Fox Theater Cl (A). Foundation For Shs. Franklin Mfg pt (7). Galena O1l Corp wd... Gen Alloya (80c) eral Baking. Gon Baking pf Gen Capital Corp. Gen E, Ltd rcta(50e) Gen Empire Corp. .. Gen Fi'proof (12%). Gen GRE cv pf B(6). Gen El Ger rets 1.92, Gen Indus Alcohol. . Gen Laundry Mach. Gen W W&E(A) (3). ows those stocks to be sold Bales— Ada 00. rn one hundred-share the letter o (u-) in odd lots only. o L UL N P S P oo 19 65 4 LEL e o Do HENENEN TN A oK ool e a0 - . 5 ® © o O VDO 8 e e 8 D 09 B 88 b °a N B rarmvarmainaandton-Ra navnSans B » " a8 o B dalonloSnmrmuns 9 = o h........wm.wma.. THE EVENING STAR, WASHINGTON, D. €, MONDAY, MAY 65 1930. Stock and . Dividend Rate. Globs Underwriters. W Gold Coin. . Golden Cents Goldman Sacl llh‘). Gold Seal Eleo new. . Goth Knitback Mach Gram’ph'ne rcts 2.91. Grand Rap Var (1).. Graymur Corp. . GrA&PTnv ll).. { Gr A &P Tea pf (7).. Greenfleld Tap&Die. Groc Stores Prod vte Ground Grip pf (3).. Guard Fire Asso(2). Gulf Oll of Pa(1%). Handley Pag pf t160 Happiness Candy. Hazeltine Corp (1).. Hecia Mining (1).... Helena Rubenstein.. Hires (CK) (A)(2). Homaokla Ofl....eus Horn & Hard (2%4).. Houston Ofl of Tex n Hudson Bay M & S.. Humble Ol (2). Hydro F1. Sec.(2). Imp OiL. Can (50c. Ind Pipe L, n (12%). Ind Terr {1lu O1l (A) Ind Terr Illu O11 (B) Ind ¥in ctfs(b10%). Indus Finev pf (1 Insull Ut Inv(b6% Ins Co, No Am (13).« Insurance See(1.40). Intercoast Trade (1) Intercontinent Pet n Intercont Pow A (2). Intl Petroleum (1).. Internat Products. . Intl Safety Raz B 13. Intl Superpwr(31) Internatl Util (B)... Internatl Util (war). Interstate Equities. . Interst Eq cv pf(3).. Iron Cap Copper. Irving Alr Chute. ... Irving Atr Ch(1.80)., Italian Super war. Italian Superpwr A.. Johnson Motor. . . Kirby Petroleum Kolster-BF (Am Sh). Koppers G&C pf(6) Lackawanna Sec(4). Lake Superior Corp. . % Lakey Foundr...... Lefcourt Real(11.85) Lefcourt Real pf(3). Lehigh Coal & N 1.40 Leonard Ol ' Lerner Stor Libby McNell & L. . Lily Tulip Cup 1% .4, Lion Oil Refin (2). Loew’s, Inc (war). Lone Star Gas (1)... Long Isl Light(60¢)} Louisiana Lan & Bx. MacMarr Stores (1). Magdalena Synd. iarc Int M (5214¢e).. Mar W T br shrs 62¢. Marine Mid (1.20)... Marine Un Inv (1)... Marion Steam Shov.. Mass Util ASSO. .. v.n Mavis Bottling Mayflower Asso (32) May Hos cum pf (4). Mead Johnson (13%) Memphis Nat Gas. .. Mercantile Stors (5), Mer Cha & 8 (1.60) Mesta Mach (11,70) .. Met & Min, Inc(1.20) Met Chain Stor Mid Sts Pet v.t.c. A Mid W Sta Ut (1%).. Mid Wst Util(b8% Mid Wat Util A war. Mid Roylty ev pf(2). Mo Kan P L (b10%). Moh H P 1st pt (1).,250- Morison Elec(31).... Mount Prod(1.60)..e Munieipal Service. .o Nachman Spring (2). Natl Amer Co. Natl Aviation Natl Bond & Sha; Natl Fam Strs(1.60). Natl Fam S pf (2). Natl Food Pr A(2%). Natl Fuel Gas (1)4. 4 Natl Investors(: ) Natl Pub Sv A(1.60) Natl Rub Mach (2) Natl Screen Sve(2) Natl Short Trm SecA. Natl Steel x-war(1)., Natl Sugar, NJ (2) Natl Transit (1). Natl Union Radio Nebel Oscar 1% . Bal 'Add 00, Open. Hieh. Low, 12 4 12 % 3% 23% 9 9 5714 374 i 224% 2240 17 1w e o 6 201 6 1% 40 2% LI LY 102 11% 40 2% 1% 102 41% 114 6 21% 31% a2 214 650% 16% 22% 24 14% 4% 48 % 19% % % 9 o re < o anlearBrsoalenciiunan BnEoroeananeoes mas m EeServonE s nSaRoann 293 % lDtK 106% 45% 10% 11 16 16 8 8 ]4 16 43 105“ 106* 22% 14 30% rh . 1ok 6 11 vada Cal E1 pf(7).2602 Newberry (JJ) (1.10) . 2 New Eng T& T (8)..2508 2 New Mex & Ariz Ld., Newmont Min (24) s NJZInc (12%).vvum N Y Rio&Bu Aires. Newport Co (2) N Y Tel pf (63%). Niag Hud Pwr(40¢). Niag Hud Pwr B war Niag Hud Pwr A war Niag Shars Md (40¢c) . Niles-Bement-P 123 Nipissing (30e) Noma Elee (1.60) Noranda Mines (3 oa North Am Cement. Nor Am L&P (b8%).. North Am Util Sec. Northern P L (15). Nor&Sou Am Corp A, Nor Sta Pwr All) Norwich Phar Novadel Angene (2).. Ohto Copper, Ohio Ofl (4) Ohio Oil,new, cu pf. Olistocks, Litd A 350 Outbd Mot(A)(1.80). Outboard Motor (B). Pac Coast Biscult (1) Pac Coast Bis pt 3.50 Pac G&El 18t pf 1%.. Pac Pub Sve (1.30). Pandem Oil.... Pantepec Oil. e Param’t Cab(b8%). Parke Davis(t1.45) Penn Mex Fuel (2). Pennroad Corp..... Penna Pwr&Lt pf(1) Peop L&P, A (a2.40). Perryman Elec. .. ... rol Corp (1%).. % Petrol Corp war. Philip Morris, In Plerce Gov (1%). Pilot Ra T(A) (1. Pitney B P, n (20¢) Plymouth Oll (2). Polymet Mfg (31).. Powdrell & Alex 4% Power Securities pf. Premier Gold (24c).. Prince & Whitely 1.. Prince & Whit pt(8). Propper McCallm(2) Prov'd Gas (11.40) was Prudence Co p (7) Prudential Invest. Pub Util Hold w w. . Pub.Utll Hold war. Radio Products 1 iroad Sha RY & Util Inv (A).. Rainbow Lu Prod A. Rainbow Lu Prod B. Raymond Consol (4), Reiter-Foster(40c) .. Repetti Candy. Rike Kumbler (.20, Rocklans Lt&P(92¢) Roosevelt Fleld,Ine.. Ross Stores, Inc. ..., Rossia Intl Corp Ryan Consolldated. . St Anthony Gold. ... St Regis Paper (1).. Salt Creek Con(40c). Salt Creek Prod (2). Sally Frocks, Inc. ... Schift(The) Co (2).. Schulte Real Estat Schulte Un 6e-$1 St.. l" Sec Corp Gen new (43, % Box Look & H (810) s 28% 28% - o8 e % % T1% T1% 106 105% 9% 15 8% 43% 85 27% 30% 16% 1% - 5 5% 35 8 23% 24% 12% 128, 110% 110% 36% 36% 84 Bu 3% 23% 4 4% e ros © % single selling agency for the total ou stock and Dividend Rate. Selberling Rubber. . Belected Industries.. Sel Ind allot cfs 8% . Seleat Ind pr(6%)... Sentry Safety Cont, Shattuck Den Min. s r Pen (13) Shenandoah Corp Shenan Coro pf (a3). Silica Gel Ctfs. ..... 8ing Mfg Ltd. réts n. Sisto Finante Corp. . Solar Refining (234). .-Pm 1080.~ Lot South Penn Ol (123 SoCal Ed pf B(1%). So Col Pwr (A) (2) amnhnrn Corp. RoerronSabes 8 W Gas Utllities. Spanish & Gen Reg. . Splgel May 8 pf(614) Std Cap&S new (2.40) Stand Gas&El pf (7) Stand Holding Corp. Stand Inves pf(5%). Standard Motors. ... Stand Oil, Ind (2%4), Stand Oll Ky. (1.60), Stand Pwr & Lt ()., Stand Pwr&Lt B (2). Btd Pwr & Lt pf (7). Starrett Corp. Starrett Corp bf (1), Stein(A) Copf(6%). Steln Cosmetics Steinite Radio Stromberg Carl(1%) Stroock & Co (3). ... Struthers Wells T. Stutz Motor Car Bunray Oll (40¢). Superieater (13% Switt & Co new (2 Swift Internatl (2% Tampa Electrie (32) Technlicolor, Ine. ‘Teck Hughes (60e¢; [FITTTSTY THSP) Thatcher Seo Corp. . Thermold Co (2). ... Thermoid Co pf (7). 150- Tobacco & All Stks. . Tobacco Pr Exports. H Transamer ($1.60).. 101 Tran Con Alf Tran., 11 Tr-Lux DL PS(A).. 27 Trl-Cont Corp (war) & TH Utllfties($1.20) 4 Trung Pork S (1.60)., 1 Tubsize Chatillon. .. INBREASE INSTEEL OUTPUT IS NOTED Volume of Business Lower During Week, Says Com- merce Department. By the Associated Press. Continuing weakness in commodity prices; some contraction in production in various lines, but an increased steel output, weré among -points cited this week by the Commerce Department's review of the business situation at home and abroad during the period. “For the week ended Aprfl 26 the vol- ume of business as indicated by check payments was lower than for last week, and also lower than for the same week in 1920,” the review said. “Operations in steel plants during the latest reported week were higher than for the previous week, but less than a year ago. Production of bituminous coal was nearly 2 per cent less than last week and 6 per cent below what it was a year ago. Petroleum production re- mained the same as the previous weel but was 4 per cent lower than in mn Building Contracts. “The vuua of building contracts de- o clined last week and was much below -. year ago. finem index of wholesale was slightly below that for a weel 0 and nearly 7 per cent lower than for 1929. Composite iron and steel price re- mained practically the same as week and was 7 per cent lower Ihln a year ago. “Bank loans and discounts at the end of the week were slightly higher than in either period. Prices for stocks were about 2 per cent lower than last week gdua”g.er cent below what they were Employment conditions in Eastern Canada have been improved by the re- sumption of navigation on the Great Lakes, the foreign section of the sum- mary said, while retail trade in the western sections of the Dominion was more active. At the same time, pro- duction in industry was generally rated as below that of last year for the same period. South American Situation. South American countries, almost ‘without exception, were treated as ex- E:rlenclnz a dull business period dur- g most of April, with Argentina de- veloping brighter prospects. The great sugar stocks of Cuba began to move into export, it was added, during the latter part of April as an effect of the aban- donment of the attempt to maintain a put of that country. In Europe the three Scandinavian countries—Sweden, Norway and Den- mark—were rated as showing the near- est to prosperous conditions. CHICAGO LIVE STOCK MARKET CHICAGO, May 5§ (™) (anftd Shfel Department _of = Agricult 40,000, including 18,000 du-ect lmdy with Friday’s average; u.m 10.40 paid for 180 pounds; bulk, good choice, 150-300 pounds, 9. Butchers, medium to choice, pounds, 9.65a10.15; 200.250 pounds, 9.85 210.35; 160-200 pounds, 9.85a10.40; 130- 160 guunds 9.65210.30;: packing 8.75a9.50; pigs, ‘medium w zhu\ce. 90~ 130 pounds, 8.75a10.00. tle—15,500; calves, 3,000; general- ly lteldy active and higher in lnn-lnlcu slow Slaughter classes, ngeru, good and choice, 1,300- 1,500 pounds, 12.50a14.75; 1,100a1,300 pounds, 12.00a14.50; 950-1,100 pounds, 11.75a14.25; common and medium, 850 pounds up, 8.50a12.00; fed yearling g:%% and cholce. 750-950 pounds, 11.0f o Heifers—Good choice, 850 BT TSET T 1T TV WP U Uy 58 Y EXE o » S TP N 1% 18% 31 , l PO NONSH NOARANNHIIA LT Y vealers (milk fed; and pounds down, 10.00a12.75; common and medium, 7.50a10.00. Cows, good and choice, 7.50a10.00; common and medium, amm 50; low cutter and cutter, 4.258 Bulls, good and_ choice (beef), . ol! 00; cutter to medium, 6.5087.50; ), good and hmne, 8.50a11.50; medium, 7.50a8.50; cull and common 5.0087.50; stocker and feeder teers, good and choice (all weights), 10 oo-u 50; common and medium, 8.00 sheep—l!ecelpu 15,000 head; active; 25 to 50 high 1) ) lambs, 11. 10a00a10.2; top, 10.50; gaog down; native Springlambs, 13.00a Lambs, good and choice, 92 ds down, 9.60810.50; medium, 9.2589.75; common, 8.2589.25; medium to choice, 92-100 pounds, 9.00a10.25; cw‘l. me- dium to choice, 150 pounds down, 4.25a 6.00; cull and common, 2.25a4.50. AIR MERGER REPORTED. CLEVELAND, May 5 (#).—Consoli- dation of the clevel-nd-Puuburxh- ‘Washington Passenger ~ Air Line, operated by Clifford Bull Inc, with | the Pennsylvania Air Lines, Inc. was | announced today by Clifford Ball, presi- dent of both concerns, Ball said new rates and & new pas- unm lehedulo mld be forthcoming the line will be Akron, ~Prev 1090.< High. Low. 2R% FINANCIAL. Stock and Dividend Rate. Al 20 Tung-Sol Lamp (2). Ungerleider F Corp.. Un Nat Gas, Can 1.60 Union Tobaceo. Utd Car Fastnr (1.10) ln United Chem pf (3).4 United Corp (war) Unitt Dry Docks Unit El §vo pr war Utd l‘ounfl! l(ll 8 Eleoc Pwr i'l")-‘ 8 8 Foll U8 8 Finishing (13) (B) 1 Gypsum (1.60) &Intl Sec 15t (5) 4 US Linesnf (1).... Watson Wenden Clev El nus) A *Ex-dividend. 1n eash or stock. Corporation News NEW YORK, May 5.—~The following| a is today's summary of important cor- poration news propared by Standard Statistics Co., Inc., New York, for the 4ssoclated Press: ‘Weekly News Review. The past Week witnessed the most severe setback in the security markets since last December. All groups par- ticipated in the recession, with some of the sharpest declines being registered by the highest grade industrial and utility issues. U. 8. Steel lost 11% points, American Telephone & Telegraph 11l points, Westinghouse 32% points, General l]ec'.rlc 15 points, nsolidated Gas 153% points, Electric Power & Light 19% points and Radio 22 points. Turn- over wuled 30,309,770 shares, the heav- lest since the week of November 2, 1929, when 43,499,540 shares changed hands in 3% tl’ndlng days. Our composite in- dex of 90 r?reunuthe stocks closed the week at 1815, a deciin2 of 20 points from the prevlouu Saturday. at the February 21 lev 1.8 per cent below the high of %ho yenr ln'.\lned on April 10, and 8. e the low point of Janu 2 Bmlm lum in- m““}l $57,000, O&H mmvanc’el Was geneu y ‘unexpec lew of the re- :n tock prices. ‘X‘omlun-.mvrd- m the latest report, at 34 274, 000000 & new high ]!'el for the year, but $1,258, 00,000 lower than on he 'corresponding date of 1920, Call money was at 4 per cent the greater part of the week, renewhu at 315 per cent on Friday, with new loans at 3 per cent,\ On Thursday four central banks re- duced their rediscount charges. A grn kc:mf Tate is now -fl-ctlva as the of land and Belglum and at the Federal Enfieserv Bank of New York. The has been re- rate since 1898, when & 2 per cent rate was in force. Only once before in the history of the Fed- cral Reserve system has the New York Bank rate been as low as 3 per cent, This charge prevailed from August 8, 1924, to February 26, 1925. Reflecn.n[ the Iower bank rate open-market charges were distinctly easier. Thirty and sixty days' time money was reduced one-quarter of 1 per cent and bankers’ acceptances for 30-90 days were cut to a 2% at 2% basis. Prime eommmhl paper was of- fered at 31, per cent. Notable changes in the Feéeru Reserve system state- ment were increases of $22,000,000 in mldxm of discounted bills and $2,- 100,000 in United States Government securities. Holdings of bills bought in the open market decreased $47,300, ooo Reserve ratio increased from 81.8 to 82.5 per cent. ‘The several regular weekly reports on trade and industry were unfavorable. Steel ingot production showed a slight falling off and price weakness was defi- nitely in evidence. Railroad freight loading ran counter to the usual sea- sonal trend and showed a considerable reduction from the previous week. Crude oil out ut showed a substantial increase. Activity in the steel industry averaged lro\md 77% per cent of theoretical capacity, compared with a shade over 78 per cent in the pre- ceding week and 101 per cent a year ago. Operations during recent weeks indicate quite clearly that a temporary average has now n struck, from which but minor improvement cs. be expected during the early future months. Prices of steel products ugm- tinue to show weakness. The Ane™n Steel & Wire Co., a United State . <ol subsidiary, Teduced its price of g 'nl wire $2 to $3 a ton. It is estimaied March quarter shipments to domestic trade realized about $1.45 a ton less than in the same 1929 quarter. Rail- road loadings of revenue freight in the week ended April 19 totaled 892,881 cars, 2 per cent less than in the previous week and 11.2 per cent below the corresponding week of 1929. This is the largest decline, compared with a year earlier, recorded in any week since the recession began last Fall, Geographically, all regions reported re- ductions of all commodities compared with the like 1929, Domestic crude oil production in the week ended April 26 averaged 2,590,100 barrels daily, an in- crease of 29,300 barrels over the prc- ceding week. Gasoline stocks totaled 58,212,000 barrels on April 26, a de- crease of 265,000 from previous week. Gas and fuel oil decreased 648,000 bar- rels to 136,685,000.. The cut in copper prices from 18 to 14 cents has thus far falled ‘to induce the anticipated response, either from led | domestic or foreign consumers, although emergency buying by the latter source developed during the first week after the reduction. The world-wide decline in general business activity and pur- chasing power is undoubtedly the pri- mary influence in the failure of con- sumers to enter the market. Producers are thus faced with curtailed onwuu, burdensome stocks on d reve- nues which provlda exlnmely NAITOW profit margins. It is believed improve- mem in the industry hdp rily linked with a recovery in world trade and gen- eral commodity prices, Weakness in commodity prices continued in the past week. May wheat in- Chicago sold a fraction over $1 a bushel; sugar dropped to 1 17/32 cents a pound, the lowest Prlcc on record. The Annalist Weekly index of wholesale commodity prices Lone Star G Traux Gruer. ividend rates in doiars based on last quarterly or semi- fPartl: » Favable In stook. United Wall Paper Utah Apex (50¢) Utllity Pwr&Lt(al). Uul P&L B ctfs (a1) Utility Equitie Vacuum Ol (t4%) Vvan Camp Packing Van Camp Pkg pt. Veeder Root (2%4)... Venezuela Petroleum Vick Finaneial Corp. Vogt Mfg Co (2). Walgreen Co. Walker (H) ( Walker Min (73 (J W) Co. ‘Welch Grape Ju (12) Copper. ‘Westn Air Exp(60¢c). Wil-Low Cafeteria.. ‘Wilson Jones (3) Woodley Pl(rollum.. “Y* Oll & Gas Zonite Prod (1.60)... RIGHTS. 17% 1% 1% Expire. 1......June 3 5 20% 20% 20% 20% 4 "4 4 4 Mayid 8 % % % P £ ity la u-fin in Dn(nu GRAIN MARKET CHICAGO, u-y 5 (sr.cm) ~—Wheat prices were nged in the early tr:dlnc . Local buying was o Jul 'xa?gauw“zoz a s‘.’B‘J:.“ o0 an ber {’os!/.yw 1.05, After the first halt hour: May, 1.00%; July, 1.02, and Sep- tember, 1.05%. Corn followed the tren May opened 78%, Jul’ 807 to 10’/4 and September 82 to ter the first haif hour: May, 'II s July, 80 and about steady. May opemd 41, July 40% to W%, and Seplember 4034, After the first half l;:rur.“)‘fly 41; July, 40%, and Septem- Promloru were about unchanged. U. 8. TREASURY BALANCE. The United States Tr balance, announced today t close of 147.650,015.54. . Gustorms May 2, wi g month to date were receipts for $4,586,057.15. Total ordinary expendi- tures, $13,024,988.39. NEW YORK BANK STOCKS NEW YORK, May § (P).—Over- counter market o 0 Trust Companles, Bld. i %, and INVESTME;IT TRUSTS NEW YORK, May 5 (#).—Over the counter market: Bid. Asked. .’s% Afliated Iny Inc..... Inv sa,':iiz’s::::s:z. w & - P R RGEBY L8585 LR x‘é‘ or Crum & Foster [x Srum & Poster Ins B Foster Biversifed Frvatas Diversified Trustee Snares B Diversifie Fsiis, LEBLE: nage Net oy & Bhas National Investo: Old"Eojony Tavest Old Colony Trust A Ol Shares, Ino ?:nn"“ s "Secur Second Inc_Eauities. Securities Corp Gen Selected Am Stand Collat Standa; 1) S snoans. (Reported by J. & W. Seligman & Co.) Alls-Chalmers Co, 8s 1937 'rn n 1 Itimy o 4 Batayisn Per. Gorh n(, ATl of BTl of c-n-a- uyl'm -1 10 lifornia PCL . fE:.gg o 40 declined 0.7 points during the week to 1323 llllfi—lofl). & new low. It is 5.5 the index at o“ 0 and 0‘ A—18 Money to Loan Joseph I Weller Real Estate Investments JAMES Y, PENNEBAKER Nat.5291 1520KSt.N.W. THERM Pd. Convertible Stock, 3\ S S Exchanee; sieids over 8% Cnnlnl mm. 1518 K 8¢ N.W. Nat. 1090 First Mortgage Notes FOR SALE In Denominations of $250 and Upwards JAMES F. SHEA 643 Louisiana Ave. N.W. ENTERPRISE SERIAL BUILDING ASSOCIATION th St. & La. Ave. N.W. Issue of Stock Now Open e $ h'lfl‘l’“.:' Money loaned to members on easy monthly payments James E. Connelly n-r Shea President 1,000 Elonise 7s, '36, @ 4,500 Arlington 1st Mortg. 61¢s, *48 1,000 Faiffax 1st & Ret, Pitisburgh 614, 43, @ 38. 2,000 :h‘fim!:‘:nfi ll:ld 1st Mortg. 500 %hi,l’hnn 1st & Ref. 6148, "3, 2,000 Law & Finance 1st & Ref. 614s, ’48, @ 38. 500 Iluntlnftml Hl.ll 1st Mortg. 8, 193] 200 Fifth Anm;n “1s, 1030, 1st Mortg., 150 U. 8. !um(y Pld. @ l“. 125 Atlantic Seaboard Alrways @ 100 Vuc;‘?rfilfll Com. @ 2% CAPITAL CITY CO. PROPERTY, [ Reasonable Retes Promps Action B. F. SAUL CO. 928 15th St. Nat'l 2100 CONTINUOUS DIVIDEND RECORD FOR 14 YEARS ACH of the eommon stocks underlying North American ‘Trust Shares has paid dividends con- tinuously for 14 years or more. The average for the group is 33 years, the maximum 74 yeirs. Thess shares enable investors to sseure, In a single security, a broadly di- versified investment in the common stocks of 28 great corporations ‘which stand at the top of American business. Over $58,000,000 already s0ld to investors. Complete infor- mation about these shares, which may be converted into cash at any time, furnished upon request. W.W. Lanahan & Co. BANKERS Washington Office : Hill Building Telephone National 6997 - Edwin D. Flather, Manager Memt.rs New York Stock Exchange Members Baltimore Stock Exchange Associate Members New Yotk Curb 6'2% FIRST Mortgages We have a safe 6%% first ocured on improved te lndhckedbynur'!mooon- T&u is NO loss of cipal or eurtailment of dividends in t‘.hm high-yielding first mort- In denominations as low Stop in, or Send for Booklet “The Success Plan® May Be Purchased on Monthly Payments Real Estate Loans REALESTATE! MORTGAGE & GUARANTY CORPORATION Capital Resources over $3,300,000 24 JACKSON PLACE