Evening Star Newspaper, May 7, 1930, Page 14

A-—-14 STEEL PRODUCTION ON SMALLER SCALE Market Is Called Spotty in Weekly Trade Review. Ingot Output Off. Aok By the Associated Press. NEW YORK, May 7.—Iron and steel | prices have undergone additional re- adjustments, buying remains exceed- ingly cautious and production shows further slight curtailment, Iron Age will say tomorrow in its weekly review of the industry. Ingot output for the country averaged 77 per cent, compared with 78 per cent last week. “In a spotty market,” the review ates, “with expanding demand for certain products offset by diminishing requirements in other lines, it is diffi- cult to discern a definite trend. Al- though steel plants have been produc- ing considerably less than in 1929 their -output compares favorably with that of previous years. Ingot production n April at 159,358 wn.! a day fell 3.4 per cent below the March rate, but was the largest for any four months average in 1929 and 1928. Output in the first third of this year has been exceeded only by the corresponding periods in 1929, 192! and 1926. “Pig iron pmductlon makes a less favorable showing. According to blast furnace returns to the Iron Age, April output was 3,181,868 tons, or 108,062 tons a day, compared with 3,246,171 tons. or 104,715 tons a day in March, A gain in daily rate of 1,347 tons, or 1.31 per cent. However, the April rate was the smallest for any fourth month since 1922. Output for the first third of the year at 12,094,423 tons has been exceeded in 10 of the last 14 years. “Price weakness, although still evi- dent, is not a new development in iron and steel since the trend of the market as been downward since the middle 0( 1929. As measured the Iron Age composite for finished steel, prices $3.68 net ton lower than 12 mom.hl ago and the recession in indi- . vidual products has been even more severe, in the case of wire nails amount- ing to $10 a ton.” ‘The review says that for the third consecutive week pipe line awards fea- tured the steel demand and that struc- tural steel awards for the past week, at about 27,000 tons, did not maintain ' the increased activity of the preceding ‘week, when 42,000 tons was let. New work that came into the market, ac- cording to the review, amounted to a little more than 20,000 tons. ‘The Iron Age composite price for finished steel dropped to 2.228 cents ind, from 2.242 cents last week and is $3.68 a net ton below the price of a year ago. The pig iron com- mfm price remains at Sl'l 67 a gross $1 below what it was a year ago. Baltimore Markets Special Dispatch ‘to The Star. BALTIMORE, Md., May 7.—Potatoes, 100 pounds, 2.25a3.25; - new, 1.25a2.50; sweet potatoes, barrel yams, barrel, 4.00a5.00; as- beets, crlu cabbage, hnmper "75a1.60; carrots, bush< el, 1.25a1.50; cauliflower, crate, 2.00a 2.50; celery, crate, 2.50a4.00; cucumbers, hamper, 4.00a7.! kale, bushel, 2.25; lima beans, hampers, 4.50a5.50; leltuce. hnnper. 1.00a2.25; onions, 100 pounds, ; green, :on 1.00a1.25; peppers, mue .00a4.50; peas, bushel, 1.50a1.75; Tadishes, 100, 10012 00; spinach, bushel, 25040; squash, bushel, '3.50a4.00; toma- toes, ‘crate, 2.00a5.00; apples, 'bushel, 1.25a3.00; mperult. box, 3.25a6.25; oranges, 3.75a9.00; pineapples, crate, 2. BOI! 00 12a20. strawberries, quart, Dairy Markets. Poultry, alive—Chickens, Springers, pound, 30a38; Leghorns, 25a32; old Toosters, 15a18; old hens, 25a26; Leg- 17a22; ducks, 14a2l; Spring l\llnet fowls, each, 50a75; igeons, pair, 30a35. Rechu 1403 cases; nearby gnu. 24V 24 hennery whites, firsts, Butter—Good to fancy creamery, nd, 35a38; ladles, 30a31; rolls, 25a process, 30a31; store plcked, 19a20. Hay and Grain Prices. Wheat—No. 2 red Winter, export, 1.03%; No. 2 red Winter, garlicky, spot, 1.08%: May, 1.08%; No. 3, garlicky, no quotations. Corn—No. 2 domestic, yellow, new, 90a91; cob corn, new, 4.75. Oats—No. 2 white, domestic, pot, a5415; No. 3 white, domestic, spot, 6214253, Rye—Nearby, 75a80. ay—Receipts, 10 tons, no change in market. Some little hay is arriving, but hardly enough upon which to establish jons by grades. Price range, Live Stock Market. Cattle—Receipts, 50 head; light sup- ply, market steady.® Steers—Choice to prime, none; good to choice, 11.50a12.25; medium to good, 10 25.11 25 fair to medium, 9.25a10.25; fair, 8.25a9.25; common to pllln 725!6 25. hoice to prime, none. good to chnlce, none; medium to good, 8.25a 8.75; fair to medium, 8.00a8.25; plain to fair, 7.5028.00; common to plain, 7.00a7.50. Cows—Choice to prime, none; good to choice, none; medium to good, 7.00a 8.00; fair to medium, 6.00a7.00; plain to fair, 5.00a6.00; common to plain, 4.00a5. Heifers—Choice to prime, none; good to choice, 10.00210.75; medium to good, 9.0029.75; fair to medium, 8.00a8.7: plain to fair, 7.00a7.75; common to plain, 6.00a7.00. Fresh cows and Springers, 50.00a 110.00. Sheep and lambs—Receipts, 100 head; light supply, market steady. Sheep, 2.00 #6.00; Spring lambs, 10.00a13.75. Hogs—Receipts, 800 head: light sup- flly, market lower. Lights, 10.’ 753110 elvles. 10.00210.8¢ medium, 10.75a 7.5029.40: hgm pigs, 10 00!1050 pigs, 0.50a1 Calves—Receipts, 25 h(‘n Hxht sup- ply, market sumy Cnlvcs, 6.00a11.00. LIFE INSURANCE TRUST DISCUSSED BY BANKERS Special Dispatch to The Star. OLD POINT COMFORT, Va., May 7. —Growing co-operation between life underwriters and trust companies in developing the life insurance trust was declared to be an outstanding feature of the present life insurance era in the report of the committee on life insur- ance trusts presented here at the American Bankers’ Association execu- tive council meeting. ‘The report was made by C. Alison Scully, vice president, Bank of Man- hattan Trust Co., as chairman of the committee, who quoted Hillsman Taylor, pruiflenl, Missouri State Life Insurance as saying that under certain con- dilionl & life insurance trust is the most satisfactory method - to provide for amily financial prohum.u comxmon SPEAKERS. BALTIMORE, May 7 (Special).— Three speakers for the annual conven- tion of the Maryland Bankers’ Associa- tion have been announced by James W. McElroy, secretary. These will be John Moody of Moody's Investors Service, Merle Thorpe, editor of Nation's Busi- roughs, ~Prev. 1930~ Hltzh Low. i 167 i 230 ness, and O. Howard Wolfe, cashier of the Philadelphia National lnnk The convention will be held May 21 and 2: at Atlantie City. Hflyvlltd head of the Drovers & Mec! tiona} of FINANCIAL THE EVENING STAR, WASHINGTON. D. C. WEDNESDAY, MAY 7, 1930. BONDS ARE HIGHER | Cox e vome BONDS oo xcmmnr] | [ siness Nows | ¢ NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. (Continued From Stock and Dividend Rate. Ady 41% Kennecott Cop (5).. 49 Kimberly-Clark(13). 20 Kinney (G R) (1)... 8614 Kinney (GR ) pf (8). 1% Kolster Radlo. . 88% Kraft PhCh (1%). 98 Kraft Ph Chpf(6%). 30 Kresge(SS)Co(1.60). 55 Kress (SH) (1) . 23% Kreuger&Toll (1. l‘) 30 Kroger Gr&Bak(nl). 200 Laclede Gas (10 21% Lago Oil & Tran 96 Lambert Co (8) 6% Lee Rubper & Tir 11% Lehigh Valley Coai.. 70% Lehigh Valley(t4%) 80% Lehman Corporation 28 Lehn & Fink (3). 19% Libbey Owens (1) 911 Ligg & Myers B(t 3314 Lima Locomotive. 52% Liguid Carbonie (. 421 Loew's, Ine (3 ¥5% Loew's, Inc pf 84 Loew's pf 3w tl%)n 16% Lorillard (P) Co. ... 92! Lorillard (P) pf (7). 5 Louisiana Oil.. 384 Lou G & EI(A) (1%) 128 Louls & Nash (1).... 28 Ludlum Stee) (2)... 63 McCrory (A) (2) 92 McCrory pf (6). 14% Mclntyre Pore M( Mack Trucks (6).... Macy (RH) & Co(n2) Manati Suga i Manaus x Man Elec Supply. 51% Manhat hlev Rtd (7) 17 Man Shirt (2)...... 9% Marlin-Rock (14%). . 17% Marmon Motor (h2) 44 Marshall Kield & Co. 3 Martin Parry. 3T3% Math! 49 May 16% Maytag 23% Metro-Gold pf(1.89), 16} Mexican Seaboard. Miami Copper 4). 53 Michigan St (m23%). 23% Mid-Cont Petm ¢2).. n Middle States Uil ct. 3215 Midiand Steel (3). ... 90 Midland Steel pt (3). 61 Minn Hon Keg(13%) 12% Minn Moline Fwr.... 72 Minn Moline pf(6%) 54 M SLP & SSM Isd (4) Missour: Pacific. Missouri Pae pf (5 Mohawk C Miils (3). 48% Monsanto Ch (1% ). #5% Montgom Ward (3) 3% Moon Motos 112 Motner Lode (40c 4} Motor Meter G & ki 50 'Motor Products (2). 26% Motor Wllell B)evan 12 Mutit s 377 Mulline MIE e (7510 18 Murray (bi%sik). .. 29 26% Natl Enameling (2).. 137 Natl Lead (13)... 32 Natl Pwr & Lt (1) 1% 70% Natl Surety (5). 30 Natl Tea Co (2). Nevada Copper (3). Newton Steel (3). N ¥ Central (8).. 112% N Y Chi & StL (6) 108% N Y Chi & StL pt(6). 36 N Y Dock. 180 N Y & Hi 22 N Y Invest (1.20) 107% N Y N H & Hart 10% N Y Ont & W 2 N Y Kailways pt 100 N Y Steam pf (6).... 226 Norf & Western (10) ¥3 Norfolk & Wn pt (4). 9% North Am Aviation.. 93% North Am(bl0%stk) 45 No Ger Lloyd (3.43). 78 Northern Pacific (6). 77% North Pacific ct (6).. “ Norwalk Tire & Rub. 9% Ofl Well Supply..... 18% Oliver Farm Kquip.. 2% Omnibus Corp. 67% Otls Kl El 52% Paclfic Gas & El (2). 72 Pacific Lighting (3). 21 Pacific Mills..... 140 Pacific Tel &Tel (7). 16% Packard Motor (1).. 50% Pan-Am Petm (B). 20% Park & Tilford (33) 21y Park Utan 12% Parmelee T 26% Penick & Ford (1) 63 Penney (J C) (3).... 933 Penney(JC) pf A(6). 6ix Penn Dixis Cement. 30% Penn Dixie Cmt pf. 2% Penna RR (4).. 56 Peop Drug Strs(1).. People’s Gas, Chi (3) 94% Pere Marq pr pf (5) 34% Phelps Dodge (3) 11% Phila Read C & L. 8te Philip Morris (1 29% Phillips Petrm (n: 1 Plerce Oil. 20 Pierce Ol p 24 Plerce Petroleul 31 Pilisbury Flour (2) 4414 Pirelli of ltaly(3.14). 151 Pitts Ft W&C pf(7). 17% Pittsbgh Screw 1.40. 100 Pitts Steel pt (7). 20% Pittston Company. 25 Poor & Co (B) ) 59% P Rican Am To A(7). 12 P Rican Am To (B).. 97 Postal Tel & Cpt(7) 53 Prairie Pipe L (16).. 7% Pressed Steel Car. 52% Proc & Gamble (2). 76 Puliman Corp (4) 2! Punta Alegre Sugar. 21% PureOll (1%). 4 110'% Pure Ofl pf (8). 66 Purity Bakerl 34% Radio Corp. . 6% Radio Corp (B) ( 19 Radio-Keith-Orph A. 70 RRSecICstkC(4). 33 Raybesfos'Mdn 2. 1 110% Reading Rwy (4) 50% Republie Steel. 95 Republic Steel pi 30 Reynolds Metls 2. 4 Reynolds Spring 71% Reynolds Tob A (3). 58% 49 Reynolds Tob B (3). 20% Richfleld Ofl (2)..... 16% Rio Grande Oll (2). 59% 4"4. Ritter Dcnl Mfg (13) 48% 56%, 4m Royal Dumi (23.20). 122% 88 % Bafeway (e6).. . 108 23 Page 13) Sales— d 00. High. Low. 295 44 41% 14 57% 55% 14 39% 38% 108 93% 93% 17 6% 5% 18 51k 51 109% 109% 30% 304 55% 55% 33% 33 34% 33% 230 10 “Bevecia o ~Bore o8 22w 21w 28 42% 41% 33 183 174 8 25 usn 16 16%' 15% PR T T v N B 44 18% 18y Z 48 48 14 174% 173 7116 115 1 108% 108% 20s 1033, 103% 16 233 108 85% 85% 179 12% 11 9(! 11%% 116% 534 b3 3% 825 821 2 2% 1 11% 11% 2T 26% 3 8% BA% 6 % b 16 2% 72% 108 126 126 1 31% 31 2 51 b61% 7 66% 224 9% €5% 94 22% 142 16 60 10s 145 122 18% 25 Glh s'/. 664. 25 2% 20 314 308 984 35% 20% 125 1. 'fl’ 101 l5¥‘u 1nJ 50: lmli 100% 428 22 b4 30% 20% 166 23 ‘l“- 72% 260 llll 10“5 1 9 98 1504 1 171 Y% 114% 49% 50 48% 104 53 it 308 Prav. cloll Close. u« 65'& 39 2sh 931y 5% 51 109% 30% 55 32% 334 230% 2 324 105 47 15% 2 22% 2% 1 5 2% 1% 1% 10:30 AN, 1:30 P.M. Stock and Sales— Dividend Rate. Add 00. lm:. Safeway Strs pf (7). 50s 405 St Joseph Lead (13). li St L-San Fran (8)... St L-San Fran pf (6) St L Soutwn pf (5) .a Savage Arms (2) Schulte Retall St Seaboard Alr Line... Seaboard Air Line pf. Seagrave (e1.20).... Sears Roebck (123%). Second Natl Inv..... Sec Natl Inv pf (5).u Seneca Coppe: Servel., Inc. ...... Sharon Steel H (2).. Sharp & Dohme. Sharp & Do pf (3%) .. Shattuck(FG)(t1%) Shell Transpt(a2.41) Shell Union (1.40)... Shell Un Oil pf (5%) % Shubert Theatres. Simmons Co (3 Simms Petrm (1. Sinclair Con Oil (2) Skelly Oil (2) Snider Packing pf. Solvay Am pf(5%).. Sou Dairtes (B)..... Southern Cal Ed (2). Southern Pacific (6).. 4 Southern Rwy (8)... Southern Rwy pf (5) Spang-Chalfant..... & Sparks Withngtn(1). Spear & co. .. Spencer Kelg (1.1 ‘0). Spicer Mfg...... Spiccer Mfg pf (3)... Splegel-May-S (3).. 4 Stand Brands (134).. Stand Comm Tob. ... Stand G & E (3%). Stand G & 1 pf (4) Stand Invest Corp. .. Stand O of Cal (2%). Stand Ofl Exp pf(5). Stand Ol of Kan (2) Stand OIt N J (12)... 4 Stand Ol N Y (1.60). Stand Plate Glass. Stand Plate Glass pf. Starrett (LS) (12%) Sterling Sec (A)..... Sterling Sec pt(1.20) 4 Sterling Sec cv pf(3) Stewart-Warner (1). Stone & Webster (4). Studebaker Corp (4). 53 Studebaker Co pf(7).100s Submarine Boat..... Superior Oil. .. Superior Steel. Sweets of Amer (1).. Symington. ... ) Symington (A) ‘Tenn Cop & Ch (1) % Texas Corp (3) Tex Gulf Sulph Texas P C & Oil. Texas Pac Land Thatcher Mfg (1. The Falr (2.40) The Fair pf (7) Third Avenue. Thomp (J R) (3.60) .. Thompson Prod( 40} Thompson Starrett. . % Tide Water As (60c). ‘Tide Water As pf (6) Timken Det Ax(80¢). Timken Roller (3)... Tobacco Product. Tobacco Products A.. ‘Transcontl Ol (30c). Transue & W (1) Tri-Contl Corp. . Tri-Cntl Corp pt (8). Truax Traer (1.60).. % Truscon Stl (£1.20).. Twin City Ra Tr(4). 1 % Twin City RT pf (7) 20s (5). per. . Unlon Carbide (2.60) 325 Union Oil of Cal (32) 7 Union Pacific (10)... 18 Union Pacific pt (4).. 9 Utd Ailreraft.... 753 Utd Afreraft pf (3).. Utd Biscuit (1.60)... Utd Carbon (2) Utd Cigar Stores Ttd Corporation. United Corp pt (3) % Utd Electric Coal U S Distributing. . U S Express. B & For Secur..... & For Sec pf(6).. Hoffman (2). Alcohol (17) Leather. .. . Leather pr pf(" . Pipe & F (2)....: Pipe & F 1st 1. zo. Realty (5). Rubber....... coagcoaacaaaac nnnnEhnnAnen U S Tobacco pf (7). 2 Univ Leaf Tob (3) Univ Pipe & Rad Utll Pwr&Lt A (e32).. Vadasco Sales Corp.. Vanadium Stl (14).. Vlck Chemical (2%4). Va-Car Chem Va El & Pwr pf (6) Va Kl & Pwr pf (7) Va Iron Coal & Coke. 10s Vulcan Det (4) 4108 Vulcan . 508 21 23 Wabash. see Waldorf Systm(1%) Walgreen pf (6%) Walworth Co (2) 4 Ward Baking (A). Ward Baking (B). Ward Baking pf (7). 2 Warner Bros Plo (4).1097 Warner-Quinlan (1). 39 Warren Bros (3).... 27 Warren Bros 1st (1), 208 Warren Fdy & P (2).. 5 ster-Eisenlohr.. 1 Wess oil & Snow (2). & Wess O & Sn pf (4). Penn El A (7 West Peun ££1 pt (6 West Penn Kl pf (7). West Penn Pw pf(6). West Penn Pw pf(7). vestern Dairy A (4) tern Dairy (B).. Western Md.... Western Md 2d pf. Western Pacific. < Western Pacific pf... tern Union (8).. Unghse 4 B (2). Westinghse E&M (5) Westhse E&M pf (5) Weston El lostr (1). tvaco Chlor (2). Wextark Radio Str: White Motors (2). White Rek MS(143%) White Sewing Mach.. 4 Whit Sw Mch pf (4). Wilcox & Rich B (2). % Willys-Overland 4 Wilson & Co. Woolworth 12.40). Worth Pump. . Wright Aeronau Wrigley (Wm) (4) Yellow Truck Youngs Spring (3. % Zenith Radlo.... RIGHTS EXPIRE Am Roll M..June 18 706 Am Tel & Tel.Aug 1 397 Chi R1&P..May ¥ 178 Ludlum Stl..May19 24 Peerless Mot C May ¢ 22 T % Zenith Rad...May 1« 16 1200 % 621 104% 814 Prev. Low. Close. Close. 108 41% 114% 108 1204 % 6114 104% ON EASIER CREDIT Demand for Short-Term Se- curities and High-Grade Issues Good. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, May 7.—With call money renewing at 3 per cent today, & plentiful supply of funds in the mar- ket between 2 and 2!, per cent, and an- other reduction in bankers' acceptances, there was ample opportunity for the bond market to improve. This it did in a measured sort of way. It still lacks snap. Volume is not large. Dealers are cautious after the experi- ence of the past week. New issues are inclined to sag after syndicate support is withdrawn. A case in point today was that of the Boston & Maine first 5s. On the other hand, there is severe competition for high-grade issues. Bids made in the past 48 hours on Chesa- peake & Ohio and Reading equipments indicate this situation and suggest small rofits to the bidders and for dealers n these prime securities. There is an enormous demand for short-term secu- itles, with & wide margin between the basis for them and for longer term bonds. All of the high-grade descriptions made progress today, with moderate advances in the legal rails and public utilities and in Government issues, and some marking up of prices for tax- exempt bonds. o The second-grade rails, and chiefly the 4!, and 4% per cent issues were in good demand. There was also a stronger market for the railroad 4% and 43, per cent convertibles, as rails again appear to be wanted by buyers of stocks. The Telephone convertibles were heavy. Some of the selling in the American Telephone 43s was by those who do not wish to convert. There also is a gradual readjustment in the price to the status of an unconvertible bond after May 23. Various high coupon industrials, in- cluding Wilson 6s, Pathe 7s, American Natural Gas 6‘,;‘ Anglo-Chilean Ts, National Dairy Products 5%%s, Phillips Petroleum 5)s and Pan-American Pe- troleum 6s made gains ranging from % _to 2 points. In the foreign group Japanese gov- ernment and public utility bonds, French, German and some of the South Americans were steadier. There is | considerable conflict of ideas abroad as to the coupon rate and price at which the new reparations loan can be placed. The views of British and German bankers are not in accord with the French, who want a 5! per cent coupon. It looks now as thouzh the rate would be 6 per cent. Washington Stock Exchange SALES. Washington Gas 6s “A"—$100 at 102. Capital Trncflon Co.—10 at 7614, 50 at 76, 20 at 75%, 10 at 75%, 10 at 15‘ 10'at 75%, 20 at 5%, 10 at 751: at 75, 10 at 75, 20 at 75, 10 ul 75, 20 at 75, 200 at 75, 10 at 75, 5 at 75, 5 at 75, 10 at 747%. 4 | Potomac ‘Electric 6’7‘n Potomac Electric 512 % p! Cnlumbln Sand & on\el pfd.—10 at Pedernl-Amtnun Co. com.—16 at 31%5. AFTER CALL. Capital Traction Co.—2 at 75'%, 10 at 5. City & Suburban 5s—$1,000 at 83, Capital Traction 55—$1,000 at 9412, Bid and Asked Prices. BONDS. PUBLIC UTILITY. Bid, Asked. Amer. Tel. & Tela. 1o 133... 100% Amer, Tel. & ‘Telgn. 4'2s ° Am: el e T Anacostia” & Anacostia & P. 3 Capital Traction . Gity & Suburban 53. Georgetown Gas 1st’ b Eotomac Zlee. cong, 3% omac Elec Wash., Alex. & Mt. V D. 6. Wash. Mkt. Cold Sto Wash. Cons. Title STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. (9), ital Traction ‘Co. 4 | Yokohama 6s. N .7 Rw: i Rlio® & Aarap. com . Wash, Balto, & Annap. pia.:. NATIONAL BANK. 23 Capital (14) . cond _(9e Washington (13). TRUST COMPANY. 15) Union Trunt (82 Wash. Loan & Trust (id). SAVINGS BANK. Bank of Bethesda (6§) Commerce & "“":!%»““' (30) Washington Mechanics' (20)". FIRE INSURANCE. American (12). Columbla (6h; 5 Real Estate Tme ( Title & Inv. om MlSClLLAN!OUs Barber & Ross. Inc., com. unev: Chase Dnuy pid. Col._Sand & Gravel Dffl D. C. Paper Mfg pfd. Dist. Natl. Sec. ’:’:'E El'so"mfl-fit 1z, 1. orace Fed e "o - A, Amer. Eafision Monotyne Merch. Trans, & Sts. com (105 Jere. £, 8 fpior, pic, (9 er” Linotspe (1n) Natl: Mtge. & Inv. pfd - Beoples Drul Stores pid, &G ooy (300 103 M e1ti% extra value well above market value. Todny however, the portfolios of many of the trusts show decided substitutions in their securities since the end of March, to their betterment or disadvantage, and that again the swift decline in ¥ | Stocks in the last three weeks had al: Sales of Stocks on New York Exchange Dividena rates 0 Noon P.M.. +eeee 1,679,600 + . 3,232,900 tered the relation between asset value and market value to a point more nearly equal to that of December 31, than of ll,rr;‘:h f tant in-and- e constan -and-out opers of investment trusts of the m-x?:g::rl:::: type and the wide fluctuations in securi- ties in the past six months have un- questionably developed a broader inter- est in the “fixed” type of trust, whose shares today are being more widely dis- tributed than ever before. ' These ave e : uw nt decline "t.lhf: Saxon (PW) 7s. ol 60 | Am Sugar Refés.. 9 NOTE—The New York Stock change is now operating on dayl saving time. UNITED STATES. (Sales are In $1.000.) E High. Low. Close. 10010 100%° 1009 9 10118 10118 101 18 21024 1022 1023 1014 1014 1014 101 101 101 10514 10513 105 14 1082 108 108 1128 1124 1124 FOREIGN. Sales. mm Argentine 6s Ju '59. Argentine, May '61. 2 Argentine 6s Oct'59 Argentine 51s'62. Argentine 6sA.... Argentine 6s B Australia 4% s Australia 5s'55 Australia 5557 Austria 7s.... Bank of Chile 615s. Bank of Chile 6%s. Belgium 6s. .. Belgium 6%s. Belglum 7s Belgium 7s '56.. Belgium 71;s. Belgium 8s Bolivar 7s Bolivia 7s ctfs '69. Bolivia 8s. Rordeaux 6: Brazil 6158 Brazil 614827 Brazil 7s Brazil &s. H 984 93 981 4 1041 941, 981 102 107% 111% 99% 2% 102% 100% Copenhagen 4148 '5.* Copenhagen bs rets Cuba 5%s. . Czecho 8= 51 Danish Munic 8s A Denmark 41s. Denmark 51 Denmark 6s DEI51s,) Dutch East Ind" 47. Dutch East I 65’62, Finland 5%s. Finland s £ 65 *45. .. Finland 7s. Framerican 7 French 7s. | French 73s. | German Bank German 7s. - Ger Gen Flec Ts. . Greek 6s'63. Haitl 6s Irish Free State 5s. Italy 7s . | Japanese 4s. Japanese 6148, TJugoslavia Rank 78 | Karstadt 63 *43. 12 | Kreuzer&Toll Bscf 208 Lyons6s... Marsellle 6 Mex 45 1904 Mex 4= 1910 asst Milan 63%s. . \!omevmco 18 861% 031 981 8% 931 9814 gur 34 ew So Wales '57. ew So Wales 58. .. Nord 6143, | Norway 65 63, orway 6s'43. Norway 6544, { Norway 6% s | Orient dev 514 58. | Orient Dev 6s°53. Paris-Lyons-M 6s Paris-Ly-Med 7s Paris Orleans 5345 Peru 6s 60, Peru 65 '61 Peru s, Poland 6540 ... Poland 7s (rcts) Poland 8s. Prague 7% Queensland 6 Queenland 7s. | Rhinelbe Un 74, Rhine Wst EP 65'52 Rhine Westés '53. Rio de Janelro 614 . Rio de Jan 8s 46, Rio Gr du Sul 6548 | Rio Gr Du Sul 8s | Rome 614, R'y'l Dutch Sao Paulo 8s°36. .. Sao Paulo ’50. . 103% 103% 104% 10415 102 " = Boul BanevomacIioneitan onunlunabong aad-Suanaca Seine 7s42.. Serbs Cr Slov 7 Soissons 6s. . Sweeden 6% 5. Swiss 54846, Swiss Conted 8 Toho El Pwr 6132, Toho El Pwr Tokio 5% '61. Utd Kingi Uruguay b Vienna 6s '52 Warsaw 7s°'52 107% 108% 991 995 IM!‘ 100% 4 1% 101'& 101 98 8714 7814 9515 "o M|SCELLANEOUS- AbItibl PAP 55 '63.. 3 Ajax Rubber 8s. 2 Alleghany Cp 5s ‘44 Alleghany 58°49... Allis Chalm 58°37 Am Agri Chem 7% Am Chain 6s'33. | AmChem 5155 ev'49 | Am Int Cor 53549 Am Nat Gas 614842 AmSmit & R 1st 58 £614 63 101 101 100% 100% 5 101 1021 103% 103% 1011 1011 105% 106% 991 99y A% 91 100% 1011 103% 103% 163 164 103% J03% 10414 1041y 104% 1043 107% 1073 74 39 101% 103% Am T&T cvd1%5'39 386 (67 Am T&T 5s ‘65 245 104% Am T&T el tr 5 Am T&T st 58 Am T&T 5%s. Am Water Wks 5x Am Wrtg Pa 65 '47. Armour, Del.5% . | Atl Guif 5s '5: * | Atl Refining 6s Bell Tel, Pa. §s (B) Bethlehm £t1 pm bs Beth Steel rf 5s. ... Bush Term Bldg bs. Chile Copper bs. Colon Ofl 6s'38 Col G&EI 65, May’52 Com Invest 5345 49 Com Invest 65 '48. . Con Coal_ Md. bs... Con GasN Y s, Consumers Pwr 5s. Cuban Am <uzur 3s Denver Gas 5s..... 108 102 1071% 9514 99% 79 1% 79 mm 101% 103% 103 Duquesne 4% Fisk Rubber 8s. Gen Cable 5%s Gen Mot Ac Cor 6 Gen Pub Sve 6%s. . Goodrich 6% Humble O & R 5% Inland Steel 43% ‘78 [ntl Cement 58 48.. Int] Match bi Intl Mer Ma Intl Paper 5547 Intl Paper 6s...... Intl Tel & Tel 4348, Intl T&T 4%s cv Int] Tel&Tel 55 Kan City P & Lt bs Kan G & E 6s 52, Laclede Gas 5s. . Laclede 5 % Ligg&Myers Liggett & Myers s Loew’s, Inc. 6s..... 15 Loew’s 63 w 0 war. Lorillard 5s. Lariliard 5%s. Lou Gas&El 58 '52. Midvale Steel 5 Montana Pwr '43. .. Nat Datry 5%s. VYGlBHPll 102% 101% 103 100 102 99% 94% 94% 99% 49T 1064 106% .INor States Pwr6s. 1 FINANCIAL. ire Direct to The Star Office Sales. High. Low. Closs. 106 106 1024 102% 102% 102% 104% 1041 100% 1|H Pacific Gas & Kl 5. 1; Paramount Pathe Exc! Phila Co 53’6 | Phila & Read 6549, zzs Phillips Pet 5% Pillsbury F M 6 n Postal Te) & C5%s. Pub Sve G 4%5 67 Pub Sve Gas 4%s. Punta Alegre 7s. Pure Oil 5%8°37... Rem Rand 5%s war Richfleld Ofl 6s Stnelair O11 6s. Stnclair O11 6% Sinclair 0117 Sinclair Crude %8 Stnclair P L 51 Skelly Ofl 5% South Bell Tel 68, Southwest Bell 5 Stand Ofl. NJ *46. .. Stand OIL N Y.4%s. Tenn Cop 65 B 44.. Tenn El Pwr 68 Tex Corp eV 5t Transcontl Oil 6 68 100% um's 103 103 94% 6% 105 105 96 96 99 99 981 98% 43% 43% 100 100 98% 98% 926 96 1004 100% 102 102 103% 103% 100 1004 98 98 96% 964 103% 108% 104% 104% 102 10214 % 9T% 9T 4 1001 100% 105 105 104% 104% 102 102 96 96% 8515 86 100% 100% 91 91n 98 93 108 103 105 105 108 103 1031 1031 1089 108% 106l 106% 100% 100t 101% 101% 103 103 1024 1024 Utilities Pwr 5% Walworth 68°45. .. Walworth 648 '35. Warner Sug 78 *41. Western Elec 5: Westn Union b Westn Union 6% White Eagle 53s. . Willys-Ov 6%s33. Wilson & Co 1st 6 ‘Win RepedtAr 7% 103 Youngstn S &T 5s. 102% HAILROAD. Ann Arbor 4s...... A T&SF cv 452006, Atchison gen 4s. Atchdeb 48’43 Atl Coast L 1st 4 6 101% 82 103% 10415 1034 103% 105% 105% 109% 109% 9% 93% 8714 871 100 100 9% 923 9813 9 9614 N B&Orfimp B&OPBEWY 4s.., Bang&Aroos 45 '51. Boston & Maine bs.. Can Nat 53, Oct '69. Can Nor 4%s '3 Can Nor 6343, Can Northern 7s Can Pac deb Can Pac 4448 '4i Can Pacific ctfs bs. Canada Sou 5. 997 4 115% 116% 10 110 86 w6 100 100 4 L0Z% 1024 103% 103% 02 102 % 101% Y01% 9ol 9% 105% 104 100% 8% Central Pacific 4 Cent Pac 1st b Ches&Ohlo Corp 5. Ches & O 4%8 93 A Ches& O 4%s B ¥6 Chi & Alt 3 o C B& Q gen 45 '53. . <hi & 15 111 gn 68 51. t48°59. 112 CM&StP rct 4%s 89 Chi Mil&St P 4543 C Chi M1&SLP 4 2 ChIMIStP&P 68'75. 35 CMSP&Pac adjbs03 148 Chi NW 4382037 Chl & NW con 4% Chi & NW ref 5s... Chi& NW 7s o CniR1&P 4%4s... C& W Ind con 4s. . CCC&StL 4% s (E). Clev Term 414877, Clev Term bs. Clev Term 5%s. ... Colo & Sou 4% Cuba R R 6! CubaRR17 Cuba Nor § 34 Del & Hud 1st rt 4 Den & Rio G cn 4 Den&RGW 53 '55 DR G&Wst 58°78.. Y 10412 104} 10748 1074 997 100 8% nli 84 x4 6% o3 3% 981 | 8% 94k 93 u3 9% 924 86% ¥6 By 34K B1% E1% vb». Y51 99 9bl 95k 1 100% 100 % 100% 4 55 b5 b5 111 1 5 8 9T% 48 4 110% 110% 110% 85 111t 111 111% 2 20 29 29 Hud & Man adj & 11 82% 81% 82% Hud & Man ref 5 15 99% 8% u8% 11l Cent ref 4s. ... s 92% Lit Cent 45 53 8874 10 100% lunu 1004 0% % 581 Grand Trunk 7s. Gt Nor 4%3'76(D). Gt Northern § %8 Great Nor gen 7s. Green B & W deb. Int Rap Tr 58 stpd. i Int Rapid Trans 6s. 5 Int Rapid Trans7s. & Int & Gt Nor 55'56.. 1 Int & Gt Noradj 6s. 1 Int Rys C Am 5 5 Int RysCA 6%src. 9 lowa Cent 1st 5 Kan City Sou § Kan City Term 4 Lake Shore 48 '31. . Long 1s1 58°37..... L& N uni 4 L&N4%s 2003 Louis & Nash 7, ManRy 1st 4s 53% 8% Mill El Ry&Lt 8100 99% 100 Mill El Ry&L 68’61, 16 100% 100% 1007 Minn & StLenbs... 1 38 38 38 MK & Tex 1st 4s. 13 8% 87y 8% M K&T prin 5s(A). 10 1021 102% 1021 Mo Pacific gen 42 T9% 79k 9w Mo Pacific 55 A '65. 7 1001 100% 100% 1100 100 100 7 100 997 9974 45 108 107!y 107% 2 94'% 94l 944 11 9% 9 vs 1 621 b2y 62y 1 98'5 Y8'y 984 36 101% 101% 101% 7 9% TY% 91% 1% Y8l 98y 100% 1007 0% 904 9% 99% 100 100 ub% 95% 98 ush 99% 99% 1 100% z 91 2 99% Mob & O gen 4s Mob & O 4% Nassau El 48°51. ... NOTex& MbsB.. NYT&Mb%s.... N Y Cengen3igs.. N Y Cent 4598 z 913 Cendebds..... 4 8 Cenrfim4%s. 7100 100 100 8 107 106% 107 4 107% 107% lo"u L 4%sC.28/ 2 107% 107 1 107% 107% 107% tL 68°31.. 56 101% 101% 101% 79 N Y Railway NY State Ry 448 NYW&Bk%s Norf & Wn con 4s. 92% Nor Pacific 38 2027. 66 Nor Pacific 4 903 90% Nor Pacific 58 (D). a 104% 104% 104% Nor Pacific ref 6 6113 132% 113 Ore Wash 1st 43 1 90% 90% 90% | Pénna 43481970... 211 96% 95% 95% Penna gen 43%. 33 100% ° 99% 100% Penna 4% 563 6 100% 100% 100% Penna 5s "84 11 104 108% 105% Penna 6%s. 10 108% 108% 108% 83 98y 98% 98K 2 98 98y 98y 6 104% 104% 104% 995 99% 99% 19% 100 98% 99 £ 100% 100% 100% 81 984 98 uBY SIL&SFpl4s A, 11 90% 904 90% SIL&SF4%878.. 141 94% 93% 93% SEL&SF gen 5831, 1 100% 100% 1004 | StLS Weon4s'32 14 98% 988 98% StP& KCSbL 4%s. 17 97k 97% 97% StP Un Depss..... z 10! 105% 106% San An&Ara P 23 Seaboard AL ref ¢s. 1 61 87 ALad) indd, 2 56 14% 8914 1% ¥9% | 92% 66 Reading gen nt A. RIATk &L 4% St L IM&S gn StL IM&S R& 21 100 1 9y NEW YORK, May 7.—A current sur- vey by Standard Statistics states that the agricultural machinery industry has this far in 1930 fared exceptionally well, despite sharp declines in prices of farm products, heavy grain reserves and sev- éral other untoward factors. The bulle- tin says indications are that the initial three months of the year constituted ‘the best first quarter in the experience of the farm machinery trade, and that second quarter returns will be suffi- cient to bring results for the first hal? year to a level comparing favorably with the 1929 record. Real Silk Hosiery Mills announced . sales so far this year are running 15 per cent ahead of 1929. The company is employing more help than at any time in its history, with 3,500 workers at Indianapolis, 1,200 at Dalton, Ga. 11,000 house-to-house salesmen and plants running 24 hours a day. The York Ice Machinery Co. has re- ceived two orders totaling nearly $1,500,000. One was from the United Fruit Corporation for its new boats be- ing built at Newport News, Va., and Fall River, Mass. and the other from the Anglo-Chilean Nitrate Corporation for delivery to its plants in Chile. Farley Osgood, past president of the American Institute of Electrical Engi- neers and former vice president and general manager of the Public Service Electric & Gas Co. of New Jersey, has been elected a vice president and direc~ tor of Security Distributors Corpora- tion, depositor for public service trust shares, series “A.” Richfield Oil Corporation of Cali- fornia and its subsidiary, Richfield Oil Corporation of New York have closed & contract under which large quantities of Richfield aviation gasoline will be stored at the New Orleans plant of the General American Tank Storage & Terminal Co. oo | NEW YORK, May 7.—The 1ollowing is a summary of important corporation news prepared by Sun{ord Statistics . g;);ulnc.. New York, for the Associated News Trend. Loadings of revenue freight in the week ended April 26 totaled 907,174 cars, an increase of 14,293 cars over the prev(ous week, but the lowest of any like week since 1922. Compared with the same week in 1929, the decline * amounted to 144,711 cars, the largest decrease shown in any week since the beginning of the recession. Steel ingot production in April amounted to 4.- 143,312 tons, a decrease of 145,673 tons from March output and 794,713 tons under that of April, 1929. In the four- month period production was .12,28 587 'Jmu, 2,529,919 tons below total same period a year ago. Daily avera production in April was 158,123 tons, against 169,499 in March and 189,824 in April, 1929. Average output in the first four months was 158,123 tons daily, against 182,647 in 1929. A further reduction was made in the "price of cnpiaer on Tuesday. Latest quotation of 12; cents a pound is the lowest in over six years. The Companies. Alaska Juneau Gold Mining A profits, before depreciation, ‘77% against $74,000 vear ago: four-month profit, $263,450, lg;inst $286,800. Blum's, Inc., earned $1.42 in fiscal year to Jmu-ry 22, 1930, ainst $3.13 in puvlmu fiscal year. Bucyrus-Erie received order Anglo. Chilean Consolidated Nitrate for 12| 12 dragline excavators and 12 high lift shovels. Calumet & Arizona Mlnln: net, be- fore depreciation and depletion, $1,- 037,377 in March qulner against $3,- 690617 in like 1929 period. Continental Baking earned 4 cents on common stock in 15 weeks to Aj 12, against $2.18 in like 1929 period. Cuban Tobacco earned $3.01 on com- ‘;x;og stock in 1929, against $2.08 in Eastern Steamship Lines had deficit of $168.172 in March quarter, against $116,209 in like 1929 period. Engineers Public Service March bal- ance after charges up 14 per cent over year ago. Federal Bake Shops April sales up 7.1 per cent over yen ago; four-mon TR e r world produc cars and trucks in April totaled 206,240 units, against 191,192 a year ago. Do- mestic cutmlt amounted to 179,149 units, remainder made in Canada and various overseas plants. Adds two new tri-motor models to its line of airplanes, agains ASQBBSI lmprfl 1929, Sy m’ sge Co. had 602 American stores and 22 cnnndlln stores i - tion on April 3 ot mxlnc:w'lc‘;uc‘ks z-;‘rneg 64 cents on com- in March quarter agai $1.89 in like 1929 qunn%r il Lane Bryant Inc. April sales up 0.1 per cent from year ago, 4 months sales off 0.7 per cent. Marmon Motor Car declares dividend of 2 per cent in common stock on com- mon shares, on March 1, a cash divi- dend of 50 cents a share was paid. Apru sales were 31 per cent above year Mengel Co. unfilled orders, A ril were $1,919,000, against $2,783,f yelr ago. G. C. Murphy Co. April sales up 16 per cent over year ago, 4 months sales up 9.1 per cent. Pacific Telephone & 'relemnh ed $1.88 on common stock in March quarter against $2.78 in like 1929 period. Paramount Publix leases Reid chain of 17 theaters in Northern New Jer- sey, total seating capacity, 15,000. Pathe Exchange, Inc., J. P. Kenne resigns from active management but will remain as chairman of the board. E. B. Deer will succeed Mr. Kennedy, who also has retired from active man- agement of Gloria Productions. J. C. Penney Co. April sales up 16.9 per cent over year ago, 4 months sales up 8.5 per cent. Phillips Petroleum forms Phillips Pipe Line Co., to build pipe line for trans- portation ol Droducts from Panhandle of Texas Kansas and points east, cost 312000 000 to $15,000,000. Real Silk Hosiery sales first four months 1930, about 15 per cent ahead of year ago. s:hulu-uniled 5 cent $1 stores Apnil sales up 146.9 per cent over year agp, 4 months sales up 120.5 per cenf. Operating 97 stores in April I‘llnn 55 | year ago. 3eaboard AL en 6s. SBAll Fla SB All Fla Sou Pac ref Sou Pac 4%5'69 ww 26 Scu Rwy gends... | Sou Rwy 6 Sou Rwy 6% Sou Rwy Mo & O 48 Term Asso SL 4 ‘Tex Ark FS 51 50 Third Ave ref 45’60 Third Ave adj 5s Tol Tr L&P 5% s'30 Ulster & Del 4s '52. Un Pac 1st ref 4s. . Union Pac 4s Union Pac 4% Un Pac 1st ref 5 Virginia Ry 1st Va Ry & Pwr b us 123y 123% M 9 89 89 1043 104% 48% 48% 26% 263 100 100 464 484 94 101% 101% 100% 100% 101 101