Evening Star Newspaper, May 13, 1930, Page 15

FINANCIAL., - GURB ISSUES FIRM IN QUIET MARKET Oils Featured in Small Turn- over—Utilities Shares Are Irregular. @pecial Dispatch to The Star. NEW YORK, May 13.—Oil shares led & dull but fairly firm curb market to- day, despite the gain in weekly pe- troleum output. Earning reports and merger rumors continued to hold spec- ulative interest in utilities. Cities Service, which enjoyed the dis- tinction of -registering the largest in- itial sale near the opening, advanced About a half point. It was the Stand- ard Oil group, rather than the inde pendents, however, that piled up the widest price swings. Btandard Oil of Indiana moved up 9 points and Vacuum, which traders now believe has & fair chance of being merged with Standard Oil of New York, rote nearly that amount. Standard Oil of Kentucky and Humble Oil likewise recorded sisable gains. Electric Bond & Bhare got away at & fast pace, but then slowed. Consoli- dated Gas of Baltimore and United Light & Power A, however, continued their advance as American Gas & Elec- tric, Long Island Lighting and Hydro- electric securities relaj L Reflecting improved trade sentiment, motor shares forged ahead. Ford Motor of Canada A rose more than 2 points and Ford Motor, Ltd., was up about half that amount, while Cord gained fractionally. ~‘Transcontinental Air Trlnlrort was slightly stronger, but Bellanca los! as traders took profits. glas and Irving Air Chute improved as New York, Rio and Buenos Aires ¢lipped. Blue Ridge common, responding to its first quarter earnings report, led trading corporations by its advance of more than a point. Addressograph In- ternational Corporation proved an early feature in the specialties, as it jumped 234 points to a new peak price of 38. @ 10 per cent gain in chain store sdles in April brought buying into that group. Consolidated Retail Stores rose more than a point and several others were fractionally higher. I EESTE S = - 33558 : Saesisiesestest PR S 23! P 55 '57 933 G&E '6s A 2022 105% #lvinator 65 '36 x 2 e EeE CeSesSesieieasiy! FEEEESE Fraas SEESERE B SR JEESE 223, - i 10 5, lfl e B s 0814 9915 % 9 L OF s A 31 B 10 Wes Union Tel' 53 '60 103% FOREIGN BONDS. aden Con Mn 7s 'S1 i NEW YORK CURB MARKE Notice—All stocks are sold in ohe hundred-share lots excepling those designated by the letter o (88s) (385) 0dd lots only. which shows these stocks to be sold in 1090.~ Stock and Low. Dividend Rate. 38% Addressograph (1%) 12 214 Alnsworth (32%) 5 1u Aluminum C0 of A Am Br B £d shars. Am CP&L(B)(10%) Am Co'with Pwr war Am Com P(A) b10%. Am Cwlith P(B)10% Am Cynam B (1.60) Am Equities Am For Pwr( Am Gas & Elee (11). Am Invest, Ine (B).. Am Lt&Trac (n).... Am Maricabo. s Am Natural Gas.... Am Superpwr (1)... Am Superpwr pf (6). A.n Super 1st pf (6). Am U&Gen B vte 40¢ Am Yvette (n) w.i.. Anchor P F (b10%). Anglo Chil Nitrat Appalachian Ga: Arkansas Nat Gas. Ark Nat Gas (A).... % Ark N G eu pf(60e). Ark P &Lt pf Asso Dyeing & Ptg. . Asso Elec Ind (30e). Asx0 Gas & Elee e NRee~~Ronse Atlantic Secur Atlas Util Corp... Auto Music A(11.05) Auto Vot Ma ov pf pt Avl Corp. . idge ev ptial) ¢y Mills..oaeee It 5 Brazil Trac & Lt (1) Brill Corp (B)...... Brit Am Tob B 11.20, Brown F&W,B(2.40) Burma Bwana M Kubwa. ... Cable Radlo T v.te... canada Marcon!, 3 Gurib Syndicate 264 Carnation Co ($134). 904 Celluloid 18t pf t3. 264 Cent Pub Sve. Del. nt P 8 (A) (A1.78) Cent States Elee $40¢ Chain Stores De Chathm Phoe Al Chem Nat As8o n- Citles Service(330 Citles Srve pt (6. Clev EI Illum (1. Colombia Syndi Colon Oil. Col Oil & Gas v.t. Columbla Pic (31% Colum Plo v.t.c.(1% Com'wlith & Comstock Tunh Comm Wat Sel Consol Auto Merch. Consol Au Mer cu pf. Consol Copper Con Gas, Balto Con Gas Util.B Consol Laundril Con Retail Str# (1 Continental Oil. Cooper Bessern! 5 Copeland Prod.Ine A 13 Copper Range (1) 10 Cord Corp 12% Corroon & 45 Cosden Oil..... 39% Coty,8o Anon 74 4-10 6% Creole Petroleu . % Cr n Consol (86) . 184 Crocker Wheeler. 3 30 Crown C&S pf(2.70). 288 Cuban Caneproptw 1 40% Cumbeland P L(t18) 1008 1 Cusi Mex Mining.... 8 8 7% Darby Petrolm (1) 21% Darby Petm (new, » e [T - - ] 1 {3 [ 1 L] 4 1 1 s 4 4 1 EastB 18% Eastn Sta 7 Eastn Utll Inv (A) 18 Eisler Eelectrict1¥ El Boad & 8h '2" . 24% Elec Pwr 234 Elec Pwr Asso A (1 28% Elen Pwr & L op wa: - s - PN e AN NS A O Empire Power (3). Emp Pub 8y A(1. Bvans Wallow Lea W Fagol Mt . 8 Fairchild Aviation. te (A) (14). 18% Fokker Alreraft..... 5 koltis Fischer Corp.: 28 Ford Motor, CantA). 36 Ford Motor, Can (B). 84 Ford Mot of France B Tem o e Smm Tela = pENsorcwonNanY 260 2204 Gr A& P T ne 122 116% Gr A &P Tea pf (1) 07 Griet & Br ptX (7). Grifith (DW) (A).. Groe Stores Prod vte Ground Gripper (1)w Guenther Law (3)... Gulf Ofl of Pa(1%).. Happiness Candy. .« Haseltine Corp (3 A Rubenstein. Humble Oil (2) Hydro Elee Sec (2) Hygrade Food Prod Lmp O11. Can (50 Imp Tob GB&I Ina Terr 11lu O11 (A) Ind Terr ITlu 01l (B) Inad ¥ln utfl(bfl‘.l . 4 intl Petroleum (1) Internat Products. Intl Buperpwr(31)..: Internatl Utll «B). Interstate Bquities. Interst £q ev pf(3) Iron Cap Copper. Irving Air Chute war Irving Air Ch(1.80)., Italian Super war. Iftalian Superpwr A.. Kolster-Br (Am 1% Leonard Ofl. 16% Libby McNell FIGHT ON CHAIN STORES PLANNED IN MARYLAND By the Associated Pr HAGERSTOWN, ., May 13.—Plans for a legislative fight on chain stores, similar to that made in s number of States, notably in the South,%vere made T % 27 Bl 1 1 806 805 305 1 11 1 ~Prev 1990 High. Low. Rda o0, Open. mieh. Low. 265 ' 1 Louisiana Lan & Bx. MacMarr Stores (1). 4 Magdal Mfg Finanee Marine Mid (1.20) Mavis Bottlin May Hos cum » Mayflower Asso (32) Memphis Nat Gi MerCha &S ( Mesabi Iron. Met & Min, Inc( Mid W Sta Ut (1%).. Mid Wet Util(b8% ). Mid Wst Util A war. Mid Wst Util B war. Mid Sts Pet v.t.o. A.. Mid Bts Pet v.t.c. B.. Mid Roylty cv pf(3). Miller & Sons (2).... Miss River F Cp war Mo Kan PL (b10%). MoK & T P L (UB) Pub Util Hold war. Radto P:uueu 1 Bouthern lce Utl (B) Sou Natural Ga Southland Roy 8td Ca Stand Standard Motors.... Stand O11, Ind (2%). Morison Blee($1)... Mountain&Guif (8e) . Mount Prod(1.60)... Municipal Service, Natl Da Prpf A (1).. Natl Fam Strs(1.60). Natl Food Prod (A).. Natl Fuel Ga: Rub Mach (2) Natl Short Trm SecA :ul Steel x-war(2).. Neet, Ine, Nehi Corp (1.80). Neisner Bros pt (7). Nelson (Herman)(2) Received by Private Wire Direct to The Star Office o 354 o 4) » » - anmanmmEaBon-nniSwen o s F=R3 3 0). B 0 S N 0 NN 8 e -150s 7) New Hav Clock t1% N J Zine (1234). Newmont Min N Y Rio&Bu Alr Niag Hud Pwr Niag Hud Pwr 4 Niag Hud Pwr B war Niles-Bement-P 23 Niplasing (30c) . Noranda Mines (3 No Am Aviat A war.. Nor Am L&P (b8%). Nor Bta Pwr A(8)... North 8t Pwr pt($ % Ohlo Copper. Ohio Ofl (4).. Ollstocks, Litd Outboard Motor (B). war 08 Biseult (1) ot 3.50 Loy B meme woHOmennS s - * - ShexnxSoEcanonE e~ 0) S&EL of (7). Stand Oll Ky, (1.60). Stand Ol Ohlo(23%). Suarrett Steln Cosmetics. Stelnite Radi Strauss Roth - Struthers Wells T Stuts Motor Car. Sunray Oll (40e Superieater (1334) Swift & Conew (1).. Bwitt Internatl(2%) Tampa Electric (33) Technicolot, Ine. Teck Hughes (808) ‘Texon Ol & La ‘Thatcher See Corp. ‘Tobacco & All Stks. Tonopah Minin Transamer (31.60 Tran Con Air Tran. . Tr-Lux DL P 8 ‘Tubsize Chatill Tung-Sol Lamp (2) Ungerleider F Corp.. Corp. . - - e R N T T o L (A) o war) » e e Utd Lt & Pwr of(6). Unit Shoe Mach(13% U S Dairy (B)...oae U S Elec Pwr (war).. U S Foll (B) (1). U 8 & Overseas war, Utd Verda Bxt (). Unity Goid. . Utility PwréLt(al). 14% Watson (J W) Co Uility & In¢ Venezuela Petroleum Vick Financial Cor) Waitt&Bond,B(1.! Walgreen Co. . Walker (H) (1). n Alr Bxp(60c) . Zonite Products (1). RIOGHTS. 20 Clev 1 I 49 20% 20% 20% 2 4 4w 4 98 1% 1% 1% 167 1% 1% 1% 1% vidend rates in doilars bssed on last Quarterly or semi- 2% 18% by » legislative committes today fol- lowing the annual convention here of the Maryland Independent Retall Association. oroem'p . o P th of Two plans curbing Sention, with the p mm; of actul vent mlll.kn for thlp" State QGeneral Assembly being left in the committee's hands. One b ’1."5%?:""&*. SRR L, S ek, o Feathe sponsored by independent retall grocers in Georgia, imposing & tax in relation to the number of stores in & chain. Kentucky's plan of taxing the gross sales of all retall stores, but exempting was a plan | the CHICAGO STOCKS. CHICAGO, m‘ 18.—Following is the zomgme official list of transactions in stocks on the Chicago Stock Exchange today: % By the Associated Press. lllea 1250 Adams Mfg.. . 800 Addressograph 200 Allied Mot Ind.. 100 American Col6rty 500 American Eauities Am Pub eer p & Fit bt 3 & Bt ot et Tt W e st ] TR S S hicaks t ago Investo Ricaso, Yellon t ice 52 Al 1 Pict. FEE Gardner-Denver General Theater Ed. & S0Gen Wat Wks p:... T s 15 1 5% reat Yakes Bredue a8 2450 Griesby-Orinow . ;i;: nsull' Ut Tn sull U In b I North.... en-Rad Ty 130 Kentue UL Jr cum bt 3 » Salle Extension. 2390 Loy MeNell 160 Lincoin Brintin inting pfd. 1 e Wi M 15 McCord Rad 198 McGraw, ‘Elec, My & Mirs' A i | session, starting May 20 Midland Util 6% f 93 Midland Ut 7% A pf 103 10 Midland Util 6% p 1 97'2 200 Miller & Hart 35 8700 Mo-Kansas Pipe Line 0 Monighan uskegon Moto onal Battéry. Nat Fai tores. gk Unexpectedly sharp market changes make selection difficult Common stocks of these 38 companies are deposited wnder CORPORATE TRUST SHARES Stand. Oil of New York Stand. Oil of Ind. Seand. Oil of Cal. Texas i American Tel. & Tel. Western Union American Radiator ‘Woolworth Eastman Kodek National Biscuit Price at Market about $10 per share GrAHAM, PARsoNs & Co, 1422 WALNUT STREET PHILADELPHIA 300 SOUTHERN BUILDING —WASHINGTON READING SCRANTON o | cipation warrants issued against taxes % [of 1028 and 1020, with indicated ma- " here who had marketed the various assessing, % | has been dels 4, | atter July 1, 1 4 luary 1 and March 1, 1931 0 dit R N % PINANCIAL. ! From Yesterday's 8:30 Edition. STOCKS. 50 Industrials. High (1930). Low (1939)... Three years ago, weekly aver.. 95. High (1930). 9 Low (1930)... SAYS CHICAGO LOANS TO BE PAID IN FULL City Oontroller Predicts Tax Wi rants of 1928 Will Be Set- * tled Soon. INDUSTRIAL EARNINGS OF 34 COMPANIES GAIN ‘Thirty-four industrial companies en- gaged in lines of business which have not been seriously affected by trade de- pression have been grouped together in 18n analysis prepared by Clark, Dodge & Co. of New York for the wrgole of illustrating that the units which have Tesisted downward trend of trade represent a large earning power. These 34 companies report for the first quar~ ter of 1930 net earnings available for the stock of $92,021,000, as compared with $75,699,000 in the first quarter of 1929, an_increase of 21.6 cent. These companies at the end of 1929 had a net worth of $2,601,054,000. - PN GRAIN MARKET CHICAGO, May 13 (Special) Despite reports of good export business, wheat values averaged lower today. Wheat went to the lowest levels ot the day in the final hour because of the lack of buying power. Closing prices were 5 to 1 cent lower. May, 1.0273a1.02: July, 1.03%,a1.03: September, 1.01%al.01%; Decembe 1.11%a1.11% ened with wheat and to % higher. Ms{‘ Seplember, 807081; A Oats were unchanged. May, 42; July, 3%341‘% September, 40%;; December, 930, Lard was 2%a5 cents higher. The collection of 1820 taxes we ex- . will be some time between Jan- NEW YORK COTTON ‘The !h‘:e has been called in epec 12, 1930, for the| NEW YORK, May 13 (Special) ~ There was less pressuré on old crop de- liveries today on the cotton market and pu of clarifying this situation and establishing a definite date for the cols prices for both May and July improved & quarter of a cent. lection of 1929 taxes.” "The controller quoted the following o, i Tl A, g, ¢ ent of e tax warfal ‘The market quieted down, following une 27, : e e " | yesterday's liquidation of straddles, and July increased its premium over Oc- tober to 120 points at ‘the elose. Cer- tified stock increased to over 425,000 bales available for deliv on May “s’ s ® Provided, however, that war- rants drawn and issued under the pro- contracts. aru were lvanced 25 points to 16.85. Cotton range: visions of this section shall show u?o le] May Jul Special Dispateh to The Star. "NEW YORK, May 13.~The first offi- clal pronouncement concerning the sta- tus of the city of Chicago tax anti- turities in 1030, was made yesterday by City Controller George K. Schmidt in the form of a notice sent to bankers warrant issues, The warrants provided funds for general corporate purposes, school purposes and for sinking funds for bonds and interest on bonds. The statement follows in part: “Cook County, Il., has been going through a radical revision of property d the collection of taxes ed more than a year. Because of this fact there will a delay in the payment of these tax war- rants. The bills for 1928 taxes are now being mailed, and it is exremd the receipts from taxes will en: ment of the 1928 tax warrants Corn _ wes closed 'y lower Legislature n their face that they are payable solely from sald taxes when collected and not otherwise * ¢ * and which taxes against which said warrants are drawn shall be set apart for their payment.” SOUTHERN GROCERY STORES. NEW YORK, May 13 (.—Southern Grocery Btores rerofm for the five g4 sales of $1,636,215. weeks ended M compared with $1,535,679 for the like period 1ast year. No eomparison of the number of units in operation was avail- able. ober tober (new ember (0ld): cember anuary (ol ry (ner ‘With ordinary care a passen| mobile will auto- average seven ;:u of 450 utah Raa 180 Util Bow 1 Poy it tility a0 Yortex Qun Vortex e il HE A R tock shles to nd sales tos The Stock market is again demonstrating the fallacy of the age-old hope of getting something for nothing. Many investors, in the light of the decline last Fall and the more recent one, are in no little uncertainty as to just what policy to pursue. Some stocks may never recover to their former levels. But likewise many will re- gain their lost ground and reach new high levels. The investor who holds a group of stocks may hold some of each but he will benefit by averages. The rise in the values of some in the group will offset the decline in others. The investment policy of participating through group ownership in common stocks of large and growing businesses is logical and sound. Over a period of time it must be effective, if our country is to go forward in the future as in the past. Corporate Trust Shares represent an owner- ship through common stocks of a cross- section of basic American industry. Each stock is a dividend payer. Welded together, they form a bulwark of security that is as strc;xflg as the financial structure of America itself. Descriptive Circular on Request 48 WALL STREET NEW YORK BOSTON WASHINGTON PITTSBURGH BALTIMORE STORE SILES GAIN IN FIFTH DISTRCT April Figures Average 12 Per Cent Higher Than for Same 1929 Month. Special Dispatch to The Star. the fitth in April averaged 12.1 per cent above sales in the same stores in April, 1929, according to reports re- ceived from 51 stores by the Richmond bank. Thirty-nine stores reported larger sales. mbined sales for March and April averaged 2.3 per cent smaller than sales in the corresponding riod of 1929, while cumulative sales since Jan- uary 1 were 0.6 per cent smaller than the total for the first four months of 1929, in apite of the gains in January and 'February. New York shared with the Richmond district in the April gain. Cleveland, Boston and St. Louis had gains of 10 per cent. Dallas and Atlanta reported a decline for the month. The na- tional average was 8 per cent increase for April, 1930, over April, 1929. New York and Boston reported gains of 1 and 3 per cent, vely, for the eumulative sales for four months. Richmond's record was better than the remaining nine districts. The largest decline was 11 cent—for the CI j0 district. national decline was cent. 'or March and April combined Bos- ton has the best report, with a loss of 1 per cent. Richmond followed and St. Louis was next with 3 per cent. The Virginia stores reported an in- crease of 11.2 per cent for April and a decline of 49 per cent for the four months. West Virginia had a gain of 17.4 per cent for eight sto in April and & loss of 3.8 per cent for four months. In the Carolinas, 15 stores re- ported 1.4 per cent increase for April and a decline of 10.8 per cent for the four-month period. The losses in the fifth district are chiefly from the Carolinas. Gastonia and Winston-SBalem both report de- clines for April, as well as the four- month period. PO, ‘The National anrnly Co. has received an order for eight large gas-fired bollers to be used in the new Toledo nng: boilers are to Ra r Co. Saul Building 925 15th St. N.W. Several desirable rooms at very reasonable rents. Inspec- tion invited. B. F. SAUL CO. Nat. 2100 925 15th St. N.W. ENTERPRISE SERIAL BUILDING ASSOCIATION 7th St. & La. Ave. N.W. 64th Issue of Stock Now Open hlllunn: Money loaned to members on easy monthly payments James B. Connelly hu'.li- First Mortgage Notes FOR SALE In Denominations of $250 and Upwards JAMES F. SHEA 643 Louisiana Ave. N.W. National Dairy Products Corporation We have prepared a com- prehensive review of the company Copies upon request STEIN BROS. & BOYCE Established 1853 Woodward Building WASHINGTON, D. C. Main Office: Baltimore, Md. Member: NEW YORK, Baltimore and Louisville Stock E: Associate Members New York Curd Ezchanoe New York Title and Mortgage Company With Capital Funds Over $63,000,000 issues owners’ and mortgagees’ policies of title insurance on real property in the District and nearby counties of Mary- land and Virginia and underwrites certificates of title issued by Capitol Title and Guarantee Company Chandler Building Washington, D. C. -Prompt Service Courteous Attention