Evening Star Newspaper, May 10, 1930, Page 15

FINANCIAL. IN ACTIVE MARKET 2 Whole List Participates in Advance, With Utilities Leading Market. BY JOHN A. CRONE. @pecial Dispatch to The Star. YORK, May 10.—Curb stocks worked higher today on volume consid- erably increased from that of Friday. ‘The advance was impressive in that the ‘whole list participated and a few of the gains were wide. Half a dozen issues, supported by spe- cial buying, were at or near their best levels of the year. The z:lxntnz was not particularly ac- tive and there were a number of de- clines, but most stocks were fractionally higher. Electric Bond & Share led the g‘bllc utilities with a 2,500-share trade nhlly at 10015, up . Later this gain was increased by 2 points. American Superpower was over a point better and there were substantial gains in active favorites such as Amer- ican & Foreign Power warrants, Amer- ican Gas & Electric, Central States Electric, Commonwealth Edison and Middle West Utilitles. Nevada-California Electric, a stock that was pushed up last week on re- ggm of merger negotiations with uthern California Edison, opened fractionally higher, but lost over 9 points in subsequent trading, presum- 8bly on rumors that the negotiations had been broken off. Brazilian Trac- tion ran up close to its high previous to the general decline a week ago. Other groups were not nearly so active as the utilitles. Cities Service pushd quietly upward by fractions. Gulf Oll of Pennsylvania and Houston Oil new were strong. Standard affiliates were quiet. Vacuum reversed an early loss and made a net gain on the day. Among trading corporation shares All-American General was 4 points her on a heavy turnover. Marine d and Blue Ridge went along with the rest. Amusement shares were in sympathy with the market’s strength. Canadian Pacific new, with continued stre; featured the rails. Motors, a n stocks, gas company shares and low-priced industrials were quiet- bnrm. Deere & Co. new added a INSURANCE I IS URGED TO ASSIST JOBLESS It is due to the opposition of a New York State offivial and the State - lature that insurance against unemploy- ment is not made available by at least one large financial institution. A large life insurance company for some time been willing to offer to the “public an insurance policy of this nature, but permission to issue this class of pro- tecuon has been refused by the State ce commissioner on the ground '.hlt it 'ould be an experiment and that the operations of a life insur- ance company must be based upon certainties. FIRM PAYS 12 PER CENT. High, Low. _ Dividend Rate, 34% 334 Addressograph (1% 115 111 Alabsma Pwr pf (7). 21 16 All Am Gen Corp.... 13 7% Am Br B fd shars. 28% 14 AmCP&L(B)(10%) 28% 23% Am Com I'(A)b10%. 5% 2% Am Co'with Pwr war W Am Ccntrll Oll Flds, 24% Am Cynam B (1.60) 3 Am Dept Stor« 110% Am DT, NJev Df('l) 16% Am Equiti 46 Am For Pwr(war). 113% Am Gas & Eleo (31). 105% Am Gas&Elec pf(6). 10 Am Invest, Ine (B) Add ) 5% Am Pneumatic Sve. 23% Am Superpwr (1). 87% Am Ethr»lwr pf 12% Anglo-Am vot (73¢). 15% Anglo Chil Nitrate.. 10% Appalachian Ga 9% Arcturus Rad T % Arkansas Nat G: 7% Ark N G cu pf(60c) 1% Asso Dyeing & P(g.. 5% Asso Elec Ind (3ve). 41% Asso Gas & Elec (n). 35 As50 GEE (A) 12.40. 18 Atlas Plywood (2). 13% Atlas Util Corp. . 6% Auto Music A(t1. Oi) 24% Aviation Corp of Am 36 Axton-F Tob A (3.20. 23 Bahia Corp... 14 5% Bellanca Aircraft. 167% 147 Bell Telof Can (8). 30% 20% BlisaCo (E W) (1) 6% Blue Ridge Corp. 33% Blue Ridge cv pf(as) 63 Bohack (HC) 2% 6 Bourjois, Inc. .. £6% Brazil Trac & Lt (2), 3 Cable Radlo T v.te.. 1% Cable&Wire (B) rets 314 Canada Marconi.... 48% Can Pacific(new) % Carib Syndical 33% Cent P S (A) (al. 25% Cent Pub Sve. Del... 19 Cent States Elec 1400 4% Centrifug Pipe(60e). 214 Chain Stores Dev.... 12 Chain Stores Stock. . 20 Chem Nat Asson-v.. 26% Cities Service(330¢). 88 Citles Srve pf (6)... 61% Clev El Illum (1.60). W Colombia Syndicate. 24 Columbia Pic ($1%). 335% 234 Com'with Edison(8). 64 3% Com'with & 19% 12% Comm Wat 1% % Consol Auto 1% Consol Au Mer cu pf. 90% Con Gas, Balto(3.60) 21% Con Gas Util A 2.20.. 10% Con Gas UtiLB v.te.. $ Consol Instrum 10 Consol Laundri % Consol Nevada-Utah 101} Contl G&EI pr p£(7). 88 Cooper Bess pf A (3) 28 Cooper Bessemer(2) 5 Copeland Prod.Inc A 6% » = . 22 L T T T Tt S Lo T T - 45 Cosden Oil... 25% Corp Secur, Ch! Directors of Rudolph Karstadt, A. G., German chain store organization, have declared a dividend of 12 per cent for the year, according to cable advices re- ceived by the company's bankers in New York. A dividend of the same amount was paid in the preceding 2, 0B B o 8o B B 25288e88saadnesy EFE OFEF 3233sRss al an = Qg‘g’ 9900¢ f m'; 101 10:"1 0 : 98 x s A w 98 om N 12 Diauesne Gus B, o43101 100 1Elec P& L'os A 2030 9170 1 Firestone Tire 'lHo{‘l s P &L -!-..u-fl!«-» % c 5 47100, 100 s ‘mmnw- logt 1g mv PRSI gNn P&L6s A "fl"fl }fl’?‘. 1065 106‘ 20 Nat P 8 55 78 82 8042 2 Neisner Jro- f‘\ 1!1 93 8 Newb'y J J 5' 99 18 Ntw Eng G& 1 New Eng G. 91 38 Nink Shares 5! " i . LI i o1 3 Ryerson & Son 5s '43 9312 93% 931 San'Ant B, 855 B 'S8 9T 7% $7 Seintilec’slly 40wl 103, 18 3 Shaws B3 C'10 9% xgr' 8 18nider Fack 18010 TN S5 2w 1087 108% 1087 20 South Caitt B4 88 31, 10314 1027 10314 s e "c 45 32,0, 10078 uw'. 190% 21 Tri S5k '79 214 d it ¥ Pow 51 B i 103, 21 Van Swerincen s 1Virgin Ry 41;x B K & Webrter diul u',. 38 £ West Tex UL 595 131 917 108 Vea. Unton Tl 58 60 108%% 10315 10343 FOREIGN BONDS. 9515 4 Chile Mtz Bk 65 62! 4 Com Pr Bk S5las '37 5 Cuban Repub 55 43 2 Cuban Tel Tizs A ‘41 5 Euroj D 68 6! 2 Findl Ind Bk T8 7 Gelsenkirchen 6« 2 Hamburg EI 5128 Eiec T '35 108 § HaRover Crea 6s /a1, ‘90% 5 Hun It B 7ias AC '63 89 11sotta Fras 1s ‘42 xw 89 8 Medellin Col, 70 g: 91 T 7 4 mou um’ .' | Fall was 43,434,000 acres, of which 11 18% Crocker Wheel 40% Cumbeland P L('“) 1% Curtiss Wright war. T4 Darby Petrolm (1).. 162% 113 Deere & Co (11.20).. 4% Derby Oll Refining.. 6 Detroit Alrcraft. 10% Dixie Gas&Utilitl (76e). IMIDA3Y. r (SR) B (2).. 41 Driver Harris(new). 99 Driver Harris pf (7). ¥ Dubllier Cond & Rad 4% Durant Motor: 18% Eastn Sta Pwr B(1). 39% Eastn Utll Asso (2).. 14 Eastn Utll Assoev.. 7% Eastn Util Inv (A).. 134 Eisler Eelectric(1%) % 80% EI Bond & Sh (b§).. 103% [l Bond & Sb pf (6). 24% Elec Pwr Asso (1).. 22% Elec Pwr Asso A (1) 281 Eles Pwr & L op war 15% Elec Shareholdg(31) 15 Eelectrographic (2). 13% Empire ¥ire ins 19% Emp Pub Sv A« 18 Europ EL Ltd.A 6 8 Euro Elecdeb rts. . 3% Evans Wallow Lead. 2 Fabrics Fininshing CLPTIN E) SeBan B © AN AR ERS S e a s § - M S 1% Kiat Stock dep rts. .. 18 Flintkote (A) (1%). 13% Kokker Afrcraft.... 64 Ford Mot of France 10% Ford Mor.Ltd. 37 % 2% Foundation For Sbs. 24 Fox Theater Cl (A). 20 Glrlock Pk‘ 11.20). T N PO TIPS P T e ! 10% Gen E. L1d rets(50¢) 80 Gen G&Eev pf B(§). 6 Gen Laundry Mach. 95% Gen Mot pf new w.i.., 32 Gen Petroleum w. Gleaner Com Har(2) Glen Alden Coal §.. . 4 Golden Center... 46% 34 Goldman llnlll(bl). 6 2% Gold Seal Elec » lhs’/- 131% Gulf Ol of Pa(14). 1% % Happine: -c-ndy 7% 5 Helena Rubenstein 27% 19% Houston Ofl of T\ ¥% Hudson Bay M & S.. 78 Humble O1l €2).,. 37w Hydro Elec Sec (2).. 10 Hygrade Food Prod. 22% Imp Ol Can (80e,... 35 Ind Terr fllu Ofl (A) 35% Ind Terr Illu O1l (B) 17 Ind ¥in etfs(b10%).. 60 Indus Finevpf (1).. 654% Insull Ut (b6%). 17 Insurance Sec(1.40; ¢ % Intercontinent Petn. 22% Intercont Pow A (2). 17% Intl Petroleum (1) 6% Internatl Util (B)... 14% 10% Interstate Equiti: THE EVENING STAR, WASHINGTON, D. C., CURB SHARES GAIN || NEW YORK CURB MARKE -share lots ~Prev1930.~ 1o '8) (285) | miER il - 27 12 1% 12% Mead Johnson(13%) Mesabi Iron. Met & Min, Mid W Sta Ut (l"). Mid Roylty cv pf(2). Mid Sts Pet v.t.e. A, Mid Sts Pet v.t.c. B.. Mid Stl Prod. n (2).. Midland Ut(b1% %). Mid Wat Uil (b8%) . Min Corp of C (25¢).. Mo Kan P L (b10%). Montecatini deb rt: Natl Amer Co. Natl Fam Strs(1. IO). Natl Food Prod (A).. Natl Food (B) (b2%) Natl Fuel Gas (1 1 Investors( ) 1 Pwr&Lt pt (6) .. Natl Rub Mach (2).. " Natl Screen Sve(2),. Natl Short Trm SecA Natl Steel x-war(32).. atl Sugar, NJ (2).. ¢ Received by Private Wire Direct to The Star Office Stock Dividend Rate. 6 Irving Air Chute war Irving Atr Ch(1.60).. 9% Itallan Superpwr A. & Kerr Lake. 35% Lackawanna 38% Lehigh Coal & N 1.40 Leonard Ofl. Loew's, Inc, deb rts Loew's, Ino (war). .. Louisiana Lan & Ex. MacMarr Stores (1). Mfg Finance v.te.... Marine Mid (1.20) Mavis Bottling. BRI e et R A R IS ) B OM KD N R DR BN HEONN NE AR N o ing Co. . 1608 New Eng Pwr pf (6). 50s NewEng T&T (3). N Y Rio&Bu Alres Niag Hud Pwr(40c). 170 Niag Hud Pwr A war % Niag Hud Pwr B war Noranda Mines (3).. 64 7 u No Am Aviat A war. Nor Am L&P pf (6). 125- North Am Uti] Sec. Nor Sta Pwr pt (7)., Ohio Coppe Ohio O1l (4). Petrol Corp (1%)... ‘Petrol Corp war. Pilot Ra T(A)(1.20). Pitney B P, n (20¢c).. Pittbgh Forg (1.60). Polymet Mfg (31)... Prince & Whitely 1.. - BHhEnaRoa e Ta e = Prince & Whit pf(3) Prudential Invest. .. Pub Utll Hold w w. Radlo Products 1. Rainbow Lu Prod A. Rainbow Lu Prod B.. Relter-Foster(40c).. Relia Intl Corp A w1 Repetti Candy...... Roan Antelope Min. . Ross Stores, Inc Rossia Intl Corp. Rubberoid Co (4 Ryan Consolidat St Rexls Paper (1).. Sehiff(The) Co (2).. Seaboard Utllities. . Sec Corp Gen new (4) Seg Lock & H (50¢).. Selberling Rubber Selected Industries.. Sel Ind allotefs 53 . Sentry Safety Cont.. Shattuck Den Min... Sheaffer Pen (13) Silica Gel Ctfs. Sisto Finance Corp. . South Coast. Southern Corp...... Southland Roy (1).. S W Dairy Products. 8 W Gas Utilit Standard Motors.... Stand O1l, Ind (2%). Stand Ofl Ky. (1.60) . Stand Pwr&Lt B (2), Starrett Corp. Starrett Corp vf (3). R¢sin Cosmetici Slruu!l Roth. (3 % vidend ra! 15% 1 In eash or stock Superieater (133). Swift Internatl 2% ) Syrac Wash M B (1) Technicolor. Ine. . ‘Thatcher Sec Corp. . Transamer ($1.60).. Tran Con Afr Tran. . Tr-lux DLPS(A). Tri-Cont Corp (war) Tri Utliities($1.20). Ulen & Co. Ungerleider F Corp. . Union Tobacco. . l nit Car Fastnr(60¢) United Corp (war)., . Unit El Sve pr war. . Utd Founders(b2.35) United Gas Co. . United Gas Co (new) United Gas (war)... sPartly extra b Payable n stock " e / 1 4 1 1 1 4 3 2 8 1 9 4 3 2 6 9 1 1 1 2 5 2 6 1 1 2 6 4 2 3 9 7 5 4 1 i 1 2 4 2 2 2 1 1 1 2 8 5 5 o e SSnoacan mm Utd Lt & Pwr A1), . U S Da:ry (B) US Elec Pwr (war). U S Finishing (12).. US Linespf (1).... U S & Overseas war. UJtd Verda Ext (4).. Utility Pwr&Ltial), Utllity & Ind. . . Vacuum OH (14%).. Venezuela Petroleum Viek Financial Corp. Walker (H) ¢1).. ... Walker Min (714¢).. Watson (J W) Co... Wenden Copper. Westn Afr Expi60¢) Wil-Low Cafeteria. . Woodley Petroloum. “Y” Oll & Gas Zonite Products (1). RIGHTS. Clev Bl 1., Mo Kan Pipe. Phillips Pet # in dcisrs based on last quarterly 14%, an 1% 15% 14% 4 1% 15% 15% Expire 7 20\. 201 20 15 0 8 lh 1% or semi- 1Plus extra in stock a Pavabie d Payable in oreferred stock WINTER WHEAT cROP DECLINE INDICATED U. 8. Figureg Forecast Drop of | 53,000,000 Bushels Under Last Year's Figure. By the Associated Press. Estimated production of Winter wheat this year, as indicated from the con- dition of the crop May 1, was an- nounced today by the Department of Agriculture as 528 070,000 bushels, com- pared with 578,336,000 last year and 550,636,000, the 10-year average produc- on. ‘The area sown to Winter wheat last r cent was abandoned to May 1, leav- ing 38,676,000 acres for harvest, com- | pared with 42,820,000 acres sown in the | Fall of 1028, 6.4 ner cent abandoned. to May 1 and 40,162,000 acres harvested last year, Winter wheat's condition on May 1 was 76./ per cent of normal, compared with 83.6 last year and 83.0, the 10- year May 1 average. k1) s AT ww 02% 92 9204 ww—With ummu. *w—Without warrente, N ben issued, Rye Above 1929, Rye production is indicated as 46,- 831,000 bushels, compared with 40, 629,000 last year and 50,581,000, the five-year average. The acreage re- maining May 1 to be harvested was 3,621,000, compared with 3,225,000 last year. Abandonment to May 1 was 7.9 Per cent, compared with 12.6 per cent last year. Condition on May 1 was 84 per cent, compared with G'IG last year and 86.8, the 10-year average. Condition of hay on May 1 was 79.9 per cent, compared with 87.8 last year. and of pasture, 77.3 per cent, compared with 86.9. Hay remaining on farms May 1 was 12,497,000 tons, or 10.9 per cent of last year's crop, compared with | 11,159,000 tons, or 77.6 per cent of the 1928 crop, on farms May 1 last year. Former Estimates Compared. ‘The Government's estimate of con- dition, acreage and indicated yleld for Winter wheat compares as follows with the similar estimates of one and two years ago: Condition 73.8 Acreage 000 38,676,000 Indicated ©rup, bu. 536,070,000 505,335,000 479.086.000 The department’s estimate of the Winter wheat crop's condition on May 1 for a series of years, its estimate of acreage planted and of acreage remain- ing in May, together with the May fore- !i:lt o'fh:ctuflo Winter wheat yleld, Pm- de following com| figures of acreage and yleld for l.he current en are those of the May esti- mate; other years they are the actual ruun of the harvest. CHICAGO DAIIY unimu OAOO ay 10 (#).—Butter, han| CHEAP MONEY CALLED * BEST BUSINESS HELP, Noting the recent lowering of money rates throughout the world, Brookmire Eccnomic Service states that this con- dition is evidence that business demand for funds is light anc also that the easy | money policy will be continued as an ald to business, Cheap money con- tinues to be the most favorable aspect | of the entire business situation. “The stock market may again be stimulated by this additional injection of cheap money,” says Brookmire, “though ap- parently it had over-discounted all| favorable factors and the present re- :lg]uslmen! is a correction of this situa- n. “The six months period from Novem- | ber, 1929, through April, 1930, has been one of subnormal activity with business | g averaging 7 per cent under normal, ac- cording to our-index. Latest informa- tion presents a confusing picture with no evidence that the subnormal rate of activity is likely to terminate in the near future.” DIVIDEND DOUBLED. The directors, of Hazeltine Corpora- | tion have voted'to increase the regul quarterly dividend rate from 25 cents per share to 50 cents per share. In' accordance with this action a regular quarterly dividend of 50 cents per share was declared payable on May 31 to stock holders of record at the closs of business May 15. % | occurring more frequently than usual in 4 | ceptions, * next week in Eastern section: RETAIL LINES SHOW GAIN DURING WEEK 4 Trade Reviews Note Spurt in Construction Work Also. Clearings Increase. Specinl Dispatch to The Star. NEW YORK, May 10.—Some encour- aging signs in general business are re- ported by the trade reviews of the week, issued yesterday. R.G.Dun & Co. state that it is possibie to discern evidence of more wholesome conditiogs, while Brad- street’s says that, although the situation looks irregular, a closer examination re- veals an ebb and flow within the vari- ous lines which deserves mention and which perhaps contains the germs of future improvement. Bradstreet’s review continues in part: “For one thing, retail trade in season- able goods, especially light wearing ap- parel, has been helped by continued high temperatures, while the combina- tion of hot, forcing weather, and, except in a few instances, notably parts of the South, New England and the Middle Atlantic States, fairly abundant rainfall has given an exceptionally good start to what Spring-sown crops have been al- | ready planted. “Except, perhaps, for some benefit in the way of repeat orders for Spring and Summer wear from wholesalers and job- bers or manufacturers, the reports as to primary distribution are rather less fa- vorable. In industry more stress is laid this week upon the differences between outdoor activities, ordinary building ex- cepted, and factory industry. “Lake and water course trade has ex- panded further with the resumption of Northern navigation and increased em- ployment is noted on roads, public build- ing and similar heavy construction, whereas in factory operations a slight slowing down of the iron and steel, shoe, furniture and in most textile manufac- turing, is noted. Curtailment in cotton goods at the South was agreed on this week in accordance with the suggestion of the Cotton Textile Institute. Increase in Building Permits. “Bradstreet’s report on permits for bullding during April at 185 cities shows a gain over March and every preceding month since October, while continuing to show decreases from the like month a year ago. The total estimated expendnure at 185 cities for April was $166,764,120, a gain of 11.8 per cent over March, but a decrease of 63.8 per cent from April a year ago. ‘The decrease at New York City from April a year ago, which was the peak month in many years, was 84.7 per cent, whereas the gain over March this year was 6.7 per cent. Outside of New York City the expenditure permitted for was 13.4 per cent over March, but 36.8 per cent below April last year. “Contrary to expectations, commodity prices which seemed inclined to rally somewhat in late March weakened again in April and reached further low levels. The May 1 index number com- piled by Bradstreet’s showed a decline of 2.2 per cent from April 1 and also marks a decline of 12.9 per cent from May 1, 1929, while only 3 per cent above the post-war low of June 1, lflll,l Compared with the peak of all time | touched on February 1, 1920, the de- crease is 47.6 per cent.” Fluctuations in Trade Volume. Dun’s review says, in part: “The immediate situation is one in | which_retarding forces are present in more than ordinary degree, hindering the movement toward recovery and de- laying the broad advance which it is confidently believed will ultimately de- velop. Fluctuations in volume of trade, some lines, reflect the sensitive condi- tions prevailing, and there is consider- able geographical variation in trends. “The main acceleration ,of activity this week was in the retail field, where | exceptionally high temperatures for the season, especially in the East, imparted a decided impetus to distribution of Summer merchandise. With the sud- denly stimulated demands, the fact was disclosed that available stocks of goods were insufficient in certain instances, adequate provision not having been made for the unexpected rush of buying in some quarters. “The different statistical barometers | ! by which the rise or fall of business is gauged point downward, with few ex- in comparison with the same | indices a year ago, yet some distinct gains are observed in contrast with the low levels touched after last Autumn’s | | speculative disorders. One of the prom- tnent_indicators which have been moving | upward is the record of bank clearings, | with a tendency in the direction of bet | terment at some interior cities where the teturns are not distorted by stock | market operations.” NEW YORK COTTON NEW YORK, May 10 (Special).— Trading in_cotton foday dwindled to | the smallest proportions of the week, while prices fluctuated within a_range of 10 to 20 points and ended virtually unchanged on the day. Firmness in the old crop situation | served to offset the influence of better | weather east of the river and main- tained the whole list. The Weather Bureau predicted several days’ rnlr‘flnll Where SATURDAY, MAY 10, 1930. FINANCIAL. STOCK AND BOND AVERAGES TWo Years ago. Three years ago, weekly aver, High (1930) Low (1930). (Copyright, 1830, Standard Statlstics Co) DEPARTMENT STORE STOCKS FOLLOW GENERAL MARKET Department store stocks, in recent years, have offered less appeal to the speculator interested primarily in broad swings than either the mail order or chain store shares, but have proven dis- tinctly more satisfactory long pull in- vestment mediums. The Standard Sta- tistics Co. index of this group stands currently 735 per cent above the ex- treme low of December, 1920, as may be seen on the appended Cchart. The mail order group (measured by the index) has registered a net advance of 618 per cent over its post-war low, while chain store issues have appreciated by 523 per cent during the corresponding period. Over the longer term future, the rather SYNOPSIS. Don Jaime Miouel Higuenes, a Tezas rancher, and Tom Antrim, a sheep owner, have been bitter ememies. Ken Hobart, Don Jaime's manager, believes his emplover's life is in danger. Dom Jaime's mind, however, dwells on other things. He has fallen in love with a picture he has seen in a magazine—a picture of Miss Roberta Antrim, @ society belle of Westchester. He is attacked from ambush and shoots it out with his opponment. Hobart finds him wounded and the opponent dead. On the body is a picture of Roberta and her address, with the request that she be notified in the event of Tom Antrim’s death. Don Jaime writes her that Antrim was killed by a man named Jimmy Higgins. Roberta, who lives with her uncle, “Crooked Bill” Latham, sees herself as an heiress. Latham wants her to marry his friend, Glenn Hackett., She goes to Texas, where she learns that Higoins and Don Jaime are one and the same. Since she is in Don Jaime's household, she accepts the situation. complaints of drought have been gen- eral. Spots were unchanged at 16.55. | Cotton range: 2 ) 2 Close. | 16.35 | 16.45 3 e e 3R33HUE38S hoaemmaw. 2332383308 GRAIN MARKET CHICAGO, May 10 (Special) —The wheat market was moderately higher to- day because of the bullith crop report | late yesterday and strength in Liverpool. The estimate Wwas for a crop of 525,- 000,000 buthels. May opened 1021ia 10215, July, 102a1.02%; September, 4106, Atier st half hour, May, 02; “July, 1.021; September, 1.05%. Gien ae it higter Bixtined buying was stimulated by the advance in wheat. MBY opened 815, |y Fa%; anots. Sepember, 80%,a80. After first half hour, May, 718%; July, {787 September, 197, Oats were firm. May opened 41%, July. d0%,340% September, 307s. Aftet | first’ half hour, May, 41%; July, 405 September, 397 Provisions were dufi. NEW YORK BANK ANK STOCKS NEW YORK, May 10 (#).—Over the | | counter market. | America ... | Broadway Nation § Chare National . | Chat Phenix 3 Cheixea 56 | City Ban Fiin Avenue First National ‘New York. | Harriman National | Mannat Co. Bankers C Hnnour Asked. 0 133 New Wehtchenter “Titie & ¥ SMELTEB IS CLOSED. NEW YORK, May 10 (P)—The American Smelting & Refining Co. has | closed its plant at Matehuala, State of San Luis Potosi, in Central Mexico, be- | cause of drought. It was said that unless conditions are immediately alleviated in the northern part of the state, the mines of the region will have to cease operation, and the American Smelting Co.’s plants at the City of San Luis Potosi-also may have to shut down. TWENTIETH INSTALLMENT. “ OU are fond of music?” Don Jaime queried. Roberta nodded and he tossed a quick order in Spanish to one of his dusky maids. “Going to turn on the radio,” the girl thought. “Why does he do it? It spoils everything.” Again she had evidence of the fact that, whether she wanted to or not, she was destined to tune in with this man's peculiar personality. “Not the radio, senorita, nor yet the victrola,” he said g;n,t_xy. “I prefer the music of my peo- From behind the climbing passion vines on the gallery across the patio a guitar was strummed. Roberta heard the mellow notes of a harp as unseen fingers ran the scale. Then a girl's voice—without much volume, but won- drously sweet and sympathetic—com- menced to sing “La Golondrina.” “When I am unhappy,” Don Jaime explained, “they sing that sad song to me and make me unhappier.” “Why don't you have them sing something joyful? They will sing what- ever you desire, I take it.” “My dear Miss Antrim, no Higgins ever wants to be made happy waen he's | unhappy. 1It's like enjoying poor health. We must feed our racial melancholy. “You incorrigible Celt! Are these professional entertainers brought out godones?” They're part of the ranch assets. That harp has been in our family sigce the first Higgins emigrated | to Madrid. Carmen Caraveo, my rid- mz boss’ daughter, yearned to play it, so I sent her to El Paso for six months to get the hang of it. After that she had to figure it out for herself. She'd never do for the Metropolitan Opera, of course, but she's pretty good for this corner of Texas. When she has finished singing ‘La Golondrina’ to her own ac- companiment her sister Conchita will strum a wicked guitar and sing ‘El Cielo.’ Hello, bub, you getting sleepy? Tired after your long ride today, eh? I told you so.” Robbie had left his chair and climbed up into Don Jaime’s lap; his thin little arm was around the brown, powerful neck, his head cuddled under the big square chin. Don Jaime held him close with his left arm, and Roberta noticed that with his right hand he gently mas- .]flaae? the atrophied muscles of thE boy’s eft, leg. The purple shadows crept over the patio, the music sobbed and mourned behind the passion vines, and the sad- dle-colored maid came out with some meat scraps on a plate and set them on the table beside her master, who whistled shrilly; whereupon two English setters crashed the screen door leading to the gallery and came leaping to ac- cept, in the polite manmer of their breed, the meat scraps Don Jaime fed | them, retiring when the meal was fin- ished to a discreet distance, where they sat and gazed at the master with love in their lJambent brown eyes. Presently Don Jaime shook Robbie gently, “Come, son,” he said softly. “Say your prayers—in Spanish, as I have taught you. Nuestro padre—" The sleepy voice spoke haltingly the unfamiliar words, the man prompting from time to time. When the prayer was finished, he rose and, with the boy in his arms, stooped over Mrs. Ganby that she might kiss her son good-night. ‘Then he passed around the table to Ro- berta’s chair. “Innocence and helpless- ness,” Roberta heard him murmur. “Who could not love it!” He stooped over her and lowered the boy until the childish lips brushed her cheek. Then he bore the lad off to bed. The two women exnhnnled glances; he mother's eyes were moist. “That is the Latin in him, Miss Antrim. He's not ‘ashamed to demonstrate his affec- tion, What a pity he hasn't a son of —— Standard Statistics Co. L 1mz | rocs | close relationship between swings in department store 1!5“1:! and the genernl industrial list may be expected to con- tinue. Considered as a group, these securities are, at present, neither at un- usually low levels nor abnormally in- flated. Sales and earnings of depart- ment stores generally will, of course, be influenced directly by business and em- ployment conditions. No drastic changes are under way in this fleld which would greatly affect profit margins, either fa- vorably or otherwise. A group commit- ment in department store shares, over a period of years, would therefore prob- ably yield a return closely comparable to that obtainable through an investment in a diversified list of common stocks. his own to waste the thrills of his big boy’s heart on!” Roberta did not answer. She was thinking of a remark that Crooked Bill had once made in her presence. “When children and dogs love a man, a woman is usually safe with him.” She won- dered now if Glenn Hackett loved chil- dren and dogs and decided presently that he would love his own children if and when he had them, but that he would not be interested in dogs or hu- man beings beneath him in the social scale, And she. thought of Julio Ortiz, in a border foray for Don Jaime Miguel Higuenes, filled with pride in his sacri- fice, solaced at the last by that perfect touch of democracy which had decreed he should perish in his master's arms. “He is a strange man, Mrs. Ganby,” she said at last. “I have never met his kind before. I do not know what to make of him—whether to like him or dislike him, to fear him or to trust him. He killed my uncle and then. masquerading under the name of Jim Higgins, he induced me to accept the hospitality of Jaime Higuenes. Where I come from one doesn’t do that sort of thing, you know.” “Don Jaime is a free soul. he pleases.” “How long have you known him, Mrs. | Ganby?” “Since three days after he killed your urcle. I am a trained nurse and I came down here to tend his wounds, although he would hav recovered without my aid, for he is as healthy as a horse. Later he asked me to be his housekeeper, but since he does not appear to regard me as a servant, I imagine I am a sort of | paid hostess. I think he had a hope that you might visit the ranch some day, and, of course, you would pever have been invited unless he had a duenna here. He is very punctilious in matters of social propriety.” “And Robbie?” “When he discovered I had a little crippled son, he sent his general man- ager to El Paso to bring the boy here. He knew I'd want him with me, of course.” “I understand. Innocence and help- lessness. Of ceurse, his heart went out to Robbie.” “Children understand, Miss Antrim. 1 think Don Jaime is a man who likes a fight—any kind of a fight. He is tre- mendously interested in that atrophied leg of Robbie’s. Lately he has started massaging it, stretching it studying it. He has been sending; for medical treatises on infantile paralysis and talks of send- ing Robbie East to be treated.” “Apparently he has a mania for mak- ing people happy.” l‘;He says money is round and made to roll.” Further confidences were interrupted by the return of the host. He called something in Spanish to the singers and | presently one came and handed him her guitar, received the thanks of her au- cience and departesd covered with em- | barrassment. He does |as hen.” qouth Don Jaime, “we'll have a little old Anglo-Saxon min- istrelsy from the boss himself.” He smote the strings with a firm, assured | hand and in a perfectly thunderous basso began “The Yellow Rose of Texas.” To his gre>t delight Roberta | joined in the song. He cocked ope lazy eye at her inquiringly; at a half-rest in the music he demanded: “How come?” “Uncle Bill,” she replied, and he nodded_comprehension. Yes, of course, Uncle Bill would know that one. But Don Jaime played now while Roberta sang; he drew Robbie’s vacant chair toward him with one foot, swung his legs up onto it and settled back for a good old evening of music. - The song ended and Don Jaime look- with a bullet through his_belly, dying|* A1 SEES BUSINESS AID INCHEAPER CREDIT Economist Declares World- Wide Abundance of Money Will Help Industry. Special Dispatch to The Star. NEW YORK, May 10.—A world-wide accumulation of idle funds, resulting in cheap and abundant credit, will even= tually have a favorable effect on busi« ness, as it generally has in the past, according to Gage P. Wright, New York business and investment counselor, who also points out in the latet issue of the Business Economic Digest that, after all, the fact that the general movement of business is upward is of greater im port than that some unfavorable phases continue to prevail. “It must be admitted,” says Mr. Wright, “that the rate of progress ex- hibited by business since the turn of the year has in many respects been somewhat diszppointing to those who had expecied the stimulant of easy money to promote a relatively quicker and more pronounced improvement in business. However, it must be remem- bered that, after all, the direction of movement is always of greater impor- tance. Although many authorities are somewhat extending the date when we may expect a more rapid improvement in business, it is generally conceded that business is and has been gradually improving, and that some time during the early part o( the last half of this year we may expect the world-wide accumulation Df idle funds, resulting in cheap and abundant credit,‘to have the anticipated favorable effect upon busi- ness. “Earnings statements so far published for the first quarter of 1930 vary widely when contrasted with results obtained during the corresponding quarter of last year—many show substantial de- clines and many display good increases, ‘We are led to believe that second quar- ter earnings will show improvement over the first quarter of this year, but, compared with the second quarter of 1929, will be as spotty as those of the first quarter, "Our weighted average of authorities® opinions definitely indicate that funda= mental conditions warrant the purchase ing and holding of recommended stocks. Various readjustments are inevitable and, in the retrospect, such irregular movements of prices as occur from time to time should only mark varying de- grees of interruption in the long-pull upward movement for selected atoc?fl “We strongly advise against adopting a too pessimistic attitude. Price reces- sions offer opportunities for obtaining a conservative bullish market position ;n“mnnd out a well diversified port- olio.” CHICAGO STOCK MARKET By the Associated Press. CHICAGO, May 10.—Following is the complete official list of transactions in stocks on the Chicago Stock Exchange today: Sales s. in thousands. High. Low. Close, 070 70 3% 354 15 Rve Sertes 6130 Gitien Service. 200 Club 325 Coleman Lamp 100 Columbia Pic. A 60 Const Mau'rl?ls.i lmfl?nme Gear & Mach. nester Eq 18 A 355 Gir akes Dredse. 2|. 9300 Grishy- Granow £0 Harnisschfeger 24 ShdRile Hersney B 100 Ind Ter OIl. 39 950 Inland _Utii| 1600 Insull Util_In: 100 Ins ULl In pf nd. ser 9 300 Iron _Fireman. 2 950 Jeflerson | Elec Jack Mot... Glags Mach. Household . ec! 0 Nai Fam Store 5 mn National Repub T8y 30 Nat Secur Tavest cti: 130 Nat-Stangard . 100 National Terminals. 100 National Union Radio 600 Noblitt-Sparks 50 North Am Gas & Eiec 4200 Nor Amer Lt T30 No & So Amer coru ety QRS M 390 Quiker On 250 Railroad Shares” m R-nnuu 430 Sangam 3os"mmm vuxmes 300 ShefMield Ste 00 Shens Seeer G 3900 Standard Dredging .. 1450 Stand Dredging p! 100 Steinite Radi 50 Swift & Co ed up, a fleeting gleam of sadness, ‘of resignation in the lazy eyes. “Now that you have made up your mind not to dislike me or the task of trying to like me, I have a confession to make.” “I'll try to bear up under it.” “A few days after I shot it out with your uncle, his man, Bill Dingle and | five others came over here with the in- tention of doing me great bodily harm— lynching me to one of the crosspieces in that heavy trellis in the grape arbor yonder, as a matter of fact. I captured Dingle and his idiots and confined them in my private bastlle here tor 30 days. Before turning them loose I my foreman flog them all.” “Oh, Jaime!” “That's_the sort of bad egg I am, senorita. That's why I was wearing two , can you sing, ye: she answered a little brenth]!fisly “Oh, grand, wonderful! Let's go in- side and prattice it with a piano ac- companiment. I want you to sing 1t at mass tomorrow for my people. You will, of course. I know you will, send your telegrams. The office in Los Algodones will soon be closing.” (To Be Continued.) ol But first ( E 1% 141 10 13% 1330 2 5] . enith 0 2780 Zenith Tis 80000 Tnwull ... <107, lois 100 10215 10242 000 Sou Un' Ga: X 000 Datt Am_OLi'6 e Stock sales today, 176.900, Bond sales tod-y. rluoo INVESTMENT TRUSTS NEW YORK. May 10 (#).—Over the counter market. Bid. Asked. 91 10 Corporate Trust Si 8h: ig 6%