Evening Star Newspaper, May 15, 1930, Page 14

el 2 MSSOURIPACFG HERGERS PLSHE Corfipany Has Gone Far To- ward Carrying Out Plan of . C. C. BY CHABLES F. SPEARE. Bprcial Dispatch to The Star. NEW YORK, May 15.— That Ohrl\r, are likely to be further changes in the official personnel as well as in the boards of directors of properties con- trolled by the Missouri Pacific system is the belief in Wall Street, following the radical adjustments to the new Van Sweringen ownership of the prop- erty that has just been announced. The Missourl Pacific had gone a long way toward completing a merger of lines tentatively recognized as iegitimate by the Interstate Commerce Commission before the merger program of the com- mission was promulgated last year. It had secured, by purchase of stock, con- trol of the Texas Pacific, New Orleans, Texas & Mexico and the International & Great Northern lines. It also has had a dominating position in the Den- ver & Rio Grande Western Railroad which, in turn, is closely rclated to the Western Pacific. ‘Williams® Retirement. ‘The retirement of William H. Wil- liams as chairman of the board of the Missouri Pacific in favor of O. P..Van Sweringen makes probable a further change in his_relations to the Texas Pacific, the Tnternational & Great Northern and the New Orleans, Texas & Mexico lines, of which he is also chairman of the directorate. J. L. Lan- caster, now president of the Texas Pa- cific, was one of the Missouri Pacific directors not_re-elected at Tuesday's meeting. L. W. Baldwin, who is to be retained as head of the Missouri Pacific operating forces, is also president of the New Orleans, Texas & Mexico and the International & Great Northern. It is quite significant that among the Mis- souri Pacific directors retained on the new board were several who are known to have been valuable to this road and to the Texas Pacific in developing traf- fic for these lines in the Southwest that formerly had gone to the Southern Pa- cific. The Missouri Pacific organiza- tion has been extremely aggressive in recent years in obtaining routings for business that originated on other lines. It has been able to secure a considerable portion of the high rate freight traffic moving out of the Imperial Valley and from the irrigated districts of Arizona, both on the Southern Pacific, and send- ing it East from Paso, Tex., via the ‘Texas Pacific and the Missouri Pacific connections in preference to giving the long haul to the Southern Pacific. The Wabash and the Missolri Pacific, having been for years members of the same railroad group and original parts of the old Gould system, exchanged a great deal of traffic at the Mississinpi River. In rallroad circles it is the comn- mon belief that, as soon as practicable, the new owners of the Missouri Pacific will throw an increasingly large amount of business from the Missouri Pacific to their Nickel Plate line rather than give favors to the W h. ‘Those. who are acquainted with the inside situation in the Eastern railroad field know that one of the main ob- stacles to the formation of a four-road plan of consolidation is the animosity existing between the Pennsylvania Rail- Toad management and the Van Swer- It is believed that the retire- ment of Mr. Williams as chairman of the board of the Missouri Pacific was due as much to his affiliations with| Pennsylvania, which controls the ‘Wabash and Lehigh Valley, as to any other factor. Merger Plan More Difficult. ‘This makes it more probable that the existing relations between the Missouri Pacific and the Wabash will be modi- fied. It also renders more difficult the the consolidation which the Pennsylvamia, New York Central, Baltimore & Ohio and Nickel Plate lines were to divjde up the trunk line territory. Another confused situation arising from the change in ownership of the Missouri Pacific has to do with the Western Pacific. This road, controlled by Arthur Gurtiss James, is not now in & very strategic position, with the Van Sweringens dominating the Missouri Pacific and with its interest in Denver & Rio Grande Western and Western Pacific. the fact that the Interstate Commerce Commission refuses to con- cede what all railroad men admit to be Jogical, namely the unification of the Chicago, Burlington & Quincy with the Denver & Rio Grande Western and Western Pacific, places the last named in a somewhat isolated position on the Pacific Coast. Its outlook, however, would be vastly improved should it re- ceive the approval of the Interstate Commerce Commission to build a line in conjunction with the Great Northern and obtain a direct entrance into the Ban Prancisco territory. (Copyright, 1930.) CHICAGO LIVE STOCK MARKET CHICAGO, May 15 (#).—(United States Department of _Agriculture) — Hogs—Receipts, 22,000 head, including 5,000 direct; mostly 10 lower; slow at decline; a number of bids off more; top, 10.30, paid for a load of 185 pounders; butchers, medium to choice, 250-300 pounds, 9.65a10.10; 200-250 pounds, 9.75a10. 9.75a10.30; .25 packing sows, 8.90a9.65: pigs, medium to choice, 90-130 pounds, 9.00a10.00. [Cattle—Receipts, 6,500 head; calves, 3,000 head; steer trade unevenly steady to 25 higher; good share of Monday's decline regained; little yearlings, heifer and mixed offerings active; best weighty steers, 14.00; medium grade light steers rather slow: slaughter classes, steers, good and choice, 1.300-1,500 pounds, 11.75a14.25; 15100-1,300 pounds, 11.50a 14.00; 950-1,100 pounds, 11.00a13.75; common and medium, 850 pounds up, 7.50a11.50; fed yeariings, good and choice, 750-950 pounds, 11.00a13.50. Helfers, good and choice, 850 pounds down, 9.75a11.75; common and medium, . cows, good and choice, 7.25a mon and medium, 5.75a7.25; low cutter and cutter, 4.00a5.75; bul good and choice (beef), 7.2529.00; cut- ter and medium, 6.60a7.65; vealers (milk fed), good and choice, 10.50a13.00; medium, 8.50210.50; cull and common, 6.00a8.50; stocker and feeder steers, good and choice, all weights, 9.75a11.00; com- mon and medium, 7.50a9.75. Sheep, 13.000 'head; nothing done; asking steady; best shorn lambs held around 9.75; good California springers held around 11.00; few natives 11.50; fet ewes quotable steady at 5.00a5.50: slaughter classes, Spring lambs, good and choice, 10.75a11.75; medium, 9.50a 10.75; cull and common, 8.50a9.50; lambs, good and choice, 92 pounds down, 8.85a9.90; medium, 850a9.00; common, 7.75a8.50; medium to choice, 92-100 pounds, 8.00a9.75; ewes, medium to _choice, 150 pounds down, 4.00a5.75; cull and common, 2.00a4.25. e FOREIGN EXCHANGES. (Quotations furnished by W B Hibbs & Co.) Nominai gold Seliing checks i today. don, pound. ranc. aris, 3.9215¢ 13 98¢ Zarich, Athens. drachma drid, peseta nna. schilling 12270 " e 2680 © 2680 TREASURY CERTIFICATES. rted by J. & W. Seligman & Co.) : tarity. ‘Bl 10008 . erown. ... . jtockholm, crown. 1 10 1 ’: "May 1 reported FINANCIALY THE- EVENING STAR,. WASHINGTON, D. C,. THURSDAY, MAY 15 1930 NEW YORK STOCK EXCHANGE Received by Private Wire Direet to The Star Office. (Continued From Page 13.) — ~Prev. 1930~ Stock and Saten— Low Dividend Rate 23% Mid-Cont Petm (2).., % Middle States Ofl et.. 32% Midland Sreel (3) 12% Minn Moline Pwr. 72 Minn Moline pf(8% 1% Minn & St Louls 54 MSIP & SSM Isd 46% Mo Kan & Texas.... 103 Mo Kan & Tex pf(7). 125 M ri Pac pf (5) .. 48% Monsanto Ch (g1%). 35'% Montgom Ward (3).. 3% Moon Moto; - 1% Mother Lode (40c). .. 41 Motor Meter G & El 50 Motor Products (2) 12% Mullins Mfg 18 * Murray (b %stk) 35% Myer(FE) & Bro(2). 25 [3 8 74 71 Natl Biscuit, n(2.80), 14215 Natl Biscuit pt (7)., 53)x Natl Cash Reg.A(14) 45% Natl Dairy (32 ! 20 ), 29 oo Natl Dept Stor Natl Distillers (2 13814 Natl Lead pf(A) (7). Nelsner Bros (1.60).. Nevada Copper (3).. Newton Steel (3). S 108 ¥ 180 N Y Chi & StL pf(6) N Y & Harlem (5) N Y Invest (1.20). 107% N Y N H & Hart (6) NYNH&Hpt (1) N Y Steam pf (6). 9% North Am Aviation. . 93% North Am(b10%stk) 51 North Amer pf (3)..: 5% Northern Central(4), 78 Northern Pacific (5). 77 North Pacific ct (5).. 5 NbGer Lioyd (3.43). Northwstn Tel (3)... % Norwalk Tire & Rub, + Oliver Farm Equip.. 11 Oliv Fr q ev pt(3 . Omasbus Corp. % Omnibus pf( A Oppenhm Collins ( um Cir pf (8). % 2915 Otis Steel (2%). 7 Pacific Coast. . 15 Pacific Coast 2d pf 52% Pacific Gas & Kl (). 72 Pacific Lighting (3). 21 Pacific Mills.... 15% Packard Motor (1) 51% Pan-Am Petrolm 50's Pan-Am Petm (B, 4% Panhandle P & R. 48% Param’nt Publix 12% Parmeles Trans 1 23 Pathe Exchang Penick & Ford pf(7). Penney (J C) (3).... 9315 Penney(JC) pf At6). 30% Penn Dixie Cmt pt 72% Penua RR (4). 54 Peop Drug Strs(1) 94% 34 1 48 PhilaCo5% 11% Phila Read C& 1.... 81¢ Philip Morris (1) 29% Phillips Petrm (n2) Plerce Oil. 2% Plerce Petroleum. 31 Pillsbury Flour (2).. 441 Pirelli of 1taly(3.14) . 17% Pittsbgh Screw 1.40. 981 Pitts Steel pt (T).... 25 Poor & Co (B) (2)... 59% P Rican Am To A(7). 12 P Rican Am To (B).. 50% Prairie Pipe L (16).. 7% Pressed Steel Car. ... 52~ Pressed SUCpf (1). 108 Pub Serv N J pf (T).. 107% Pub Serv E&G pf(6). 76 Pullman Corp (4). .., 2145 Punta Aleg Su c.o.d. 21% PureOll (1% 110% Pure Oil pt (3) 66 Purity Bakeries (4).; 34% Radio Corp 1% Radio-Keit 33 Raybestos Man 2.60., 110% Reading Rwy (4). 44% Reading 1st pf (2) 43% Real Silk (5).. 25% Rem Rand (1.60).... 92 Rem-Rand 1st pf(7). 10% Reo Motor Car (80¢). 50% Republic Steel...... 95 Republic Steel pf (6) Revere Copper & Br. 100 Revere C&B pf (1)..: 284 Reynolds Metls 2.40. 4 Reynolds Spring.... 23 71% Reynolds Tob A (3). 1108 49 Reynolds Tob B (3). 20% Richfield Oll (2) 16% Rio Grande V1l ( 447% Ritter Dent Mfg (13) 33 Rossia Insur.2.20).. 49% Royal Duteh (23.20). Safeway (el Safeway pf ( 85 . St L Soutwn pf () 241; Savage Arms (2). 41 Schulte Retail Strs. . 8% Seaboard Alr Line... 20% Seaboard Air Line pt. 79 Sears Roebck (12%). 914 Second Natl Inv.. 5815 Sec NatlInv pt (5). 1% Seneca Copper. 7% Servel, Irc. . 221 Sharon Steel H (2).. 54 Sharp & Dopt (3%).. 36% Shattuck(FG)(11%) 4 20% Shell Union (1.40)... 100 Shell Un Oil pf (5%). 8% Shubert Theatre: 3515 Stmmons Co (3) 22% Simms Petrm (1 21% Sinclair Con Ol 28% Skelly Ofl (2). Adc 0. High. Low. Close. Close. 28% 36% —~Prev. 1930.— High. Low. 82 60U 28 1% 39 25% 88 1% 55 57 104% 104% 132 1814 59% 45 28% 1% 49 2; 113% 37% 58 31% 1% 3% 33 36% i Tide W 98% 100% 22 224 17% 18% 61% 634 631s 66% 12 0% 16 6% 15% | 224 B 51% 108 110 68 68% 100% 100% 100% 100% 39 96 96 115 114% 99%+ 997 % . 26 bl :30 P.M Divideng rates Stock ana Dividend Rate. Sloss-Sheffield pf (7) 3008 So Porto Rico Sug (2! So Port Ric S pf ( Southern Cal Ed ( Southern Pacifie (6).. Southern Rwy (8). Spang-Chalfant. . Spang-Chai pf (6). Sparks Withngtn(1). Spencer Kelg (1.60) Splcer Mfg..... Spiegel-May-S 4 Stand Brands (1) StandG& E (3%) Stand G & E pf (4).0 Stand Invest Corp. .. Stand O of Cal (2%4). Stand Ofl Exp pf(5).. 1 -Stand Oil of Kan (2). Stand Oil of N J(12). 644 Stand Ofl N ¥ (1.60). Stand Plate Glass. .. Stand Plate Glass pf. 408 Starrett (LS) (12%) Sterling Sec cv pf(3) Stewart-Warner (1). Stone & Webster (4). .6 4 Studebaker Corp (4 Submarine Boat. Sun O11 (11) Smelt Ref pf %. Warner Bros Plc (4). Warner-Quinlan (1). Warren Bros (3).... Warren Fdy & P (2). Webster-Eisenlohr. . Wess oll & Snow (2). st Penn El pf (6). st Penn EI pf (7). Penn Pw pf(17). Sales— Add 00. Hich. 60 20 21% * 42 2 @) 2 3% 8 89 17 8 Superior Steel Sweets of Amer (1) Symington. Symington (A). ‘Tenn Cop & Ch (1). Texas P C & Ofl Texas Pac Land Tr. Thatcher Mfg (1.60). 4 Thermotd Co (%) Third Nat Inv (2)... 4 ¢ Thomp (J R) (3.60)., 1 ‘Thompson Starrett. , Thomp-Sfar pf (3%) ter A Tide Water As pf (6) Timken Det Ax(80c). Timken Roller (3)... Tobacco Products. . . ‘obacco Products A.. “Cranscontl Ol (30¢). Transue & W (1), Tri-Contl Corp. Tri-Cntl Corp pf (6), Truax Traer (1.60). i Truscon Stl (£1.20) Und-Eil- Union Bag & Paper. . Unfon Carbide (2.60) Union Oil of Cal (12) Union Pacifie (10)... 4 Unlon Pacific pf (4) 122 11 1 17 5 41 21 3 9 17 ES 26 20 6uc). 12 1 22 37 2 5 : Fischer (5). Utd Biscuit (1.60) Utd Business Pub. % Utd Carbon (2). Utd Cigar Stores. Utd Gas & Imp pf(5). & Utd Paperboard..... Utd Stures (A). Utd Stores pf. U S & For Secur. % US Alcohol (17) U S Leather (A) 4 USPipe& F (2) S Pipe & F 2d 1.20 3% 3% 2 4 US Tobacco (4) U S Tobacco pf (7). Univ Leaf Tob (3) Univ Pipe & Rad. Utll Pwr&Lt A (e2). Vadasco Sales Corp.. Vanadium Stl (14).. Viek Chemical (2%). Va-Car Chem. .. Vulcan Det (4). Vulcan Det A (4). Wabash.....c..oone ‘Wabash pf (A) (5).. ‘Waldorf Svstm(1%). 3 4 W White Motors (2). ... White Rek MS(t434) White Sewing Mach.. 4 Wilcox & Rich B (2). + Willys-Overland. ... Willys-Over pt (7). Wilson & Co Wilson & Co Wilson & Co pf. Woolworth (2.40 Worth Pump. Wrigley (Wm) (4).. Yellow Truck. Yellow Truck pf Youngs Spring (3). Zenith Radio. RIGHTS EXP] Am Roll M..June 16 Am Tel & Tel.Aug 1 430 C,RI& Pac..May 19 Ludlum Stl..May 19 31 PhillipsPe Rad-Keith-0.May 191165 Truax Tra C..May 29 Sales of Stocks on New York Exchange . 376,300 1,761 300 10 39 June — 232 51 12:00 Noom.. 3.1 €1V on the iatest qui 100 Corporation News NEW YORK, May 15.—Following is a summary of today's corporation news, prepared by Standard Statistics Co. for | the Associated Press: The Companies. Albany Perforated Wrapping Paper earned $1.68 on common stock (before Federal taxes) in nine months to March | 31, 19:?, dunnsz 95 cents in previous like period. . Anl:el:ondl ‘Wire & Cable negotiations for acquisition of California Wire & Cable assets completed. Beatrice Creamery acquires Flint Milk Co. of Joliet, Til. Eagle Pitcher Lead had deficit of $463,015 in March quarter. First National Stores sales four weeks to April 26 up 13.1 per cent; sales 17 weeks to same date, 29.7 per cent above year ago. General Printing Ink earned 81 cents on_common stock in March quarter. Hecla Mining earned 30 cents on com- mon stock in March quarter, against 49 cents in like 1929 perlod. International Telephone & Telegraph advisory committee of Shanghai Mutual Telephone. Co. has recommended ac- ceptance of 1. T. & T. offer of 15 taels (tael equals 45'; cents) a share. Ludlum Steel had deficit of $49,843 in March quarter, against net income of 3389438, equal to $1.88 common share, in like 1929 Ftr!od. . McGraw-Hill Publishing earned 89 cents on common stock in March quar- ter, against 87 cents in like 1929 period. National Container earned 18 cents on_common stock in March quarter. Montgomery, Ward & Co. r sale catalogue shows price reduction on 1 tire sizes. : ord size was cut to $5.55, reduction, 4.1 per cent. Peerless Motor Car unfilled orders on dent indicates in statement that recent dividend of 25 cents does not mean common stock is on $1 annual basjs. Dividend disbursement will be consid- ered at each quarterly meeting and rate announced applies to that quarter only. Scott Paper earned $1.82 on common against $1.32 in like period of i ';nn,‘noebuu & Co. All-State bal- loon tires reduced 5 to 6 per cent. Ford size Jowered to $5.55, a reduction of 5.1 per cent. Sheffield Steel stockholders of record May 21 to be offered right to subscribe tc additional stock at $50 a share to extent of 3 per cent of their holdings. This offering is for purpose of adjust- ing company’s capital, structure pre- paratory to merger with American Rolling Mills. Sinclair Consolidated Oil—President Hoover approves settlement of Teapot Dome case against Sinclair Crude Oil Purchasing Co. for $2,906.484. Southwestern Light & Power March quarter net, before depreciation, up 11 per cent; net 12 months to March 31, up 16 per cent. psupe?fmnd Corporation earned 65 cents on common stock in March quar- ter, against $1.74 in like 1929 period. United Corporation has received tenders amounting to 1,425,000 shares of United Gas Improvement common stock in response to offer of May 1. "9 BANK CLEARINGS. NEW YORK, May 15 (Special).— New York bank clearings, today, $! 152,000,000; & year ago, $1,573,000,000. New York balances, today,’$171,- $149,000,000. 000,000; & year ago, York PFederal Rfle‘oflle credit balances, wdlayo.otlfl,m.m: & year ago, $142,- 000,000. New —_—e Amplifiers have been installed in Co- logne Cathedral, in Germapy, to carry larger than at any time this year. Stewart-Wasner Corporation presi- the volce of the preacher o every cor- of the vast puilding. % OUTLOOK FOR AUTO INDUSTRY HELD 600D Executive Declares Companies Will Overcome Results of Recent Depression. BY DAVID J. WILKIE, Associated Press Staff Writer. DETROIT, May 15.—Business depres- slons may come and business depres- sions may go, but the automobile in- dustry is fundamental and will go on forever. This is the cheerful note of- fered by one of the leading executives | of the industry replying to those who see only a long period of reduced pro- duction and curtailed sales ahead. “The automobile industry has had ‘lean’ years before and has come through splendidly,” said" the execu- tive. “Sales so far this year have been about two-thirds of what they were for the same period last year. And what # we do mot produce 5,000,000 auto- mobiles this year? The depression in the automobile business is not in any way due to saturation. The ‘satura- tion point,’ is, if anything, further away than ever before.” ‘The fact that production has been on a_ hand-to-mouth| for six months or more need not be construed too pes- simistically, the industry's leaders say. 1t is rather the common sense thing to do, they add, pointing out that when the depression df mand for automobiles in prevails, the industry will be for it, not only with current models but with the xmgrvved types that come as the re- sult of research work on the part of automotive engineers. | we 3 68, seri W::R Rwy. & Elec. 45 .. . | Cnevy | A FINANCIAL BOND PRIGES SAG | (e o= BONDS o] [FACTORY LOGATIN IN QUIET MARKET New Issues-. Totaling $60,- 000,000 Announced—Most Groups Heavy. BY F. H. RICHARDSON, Special Dispatch to The Star. NEW YORK, May 15—The $60.- 000,000 of new issues announced today, together with the distribution of other issues recently offered, showed their effect in a dull market for bonds and some concessions in prices, ‘The new offerings were quite well balanced between railroad, public util- ity, foreign and municipal groups. The Great Northern 4!5s, which represent- ed the first important borrowing by this company in some time, were priced below the market for the earlier series of the same mortgage. This brought about a readjustment in the price of the latter. The National Power & Light 5s were about in the same range as other long-term debentures having similar sponsorship. The market for the new Japanese 5125 has apparently been well cleaned up, with the bonds today quoted at a premium of 3 over the issue price. This benefited the government 613, which were a point above Monday's level. Tokio Electric 6s were slightly better. The issues of Toronto and Quebec were brought* out ‘on about the same basis for the long maturities. With bonds of this high-grade quoted to yield 4.85 per cent they make strong compe- tition with some of the corporation issues in a slightly lower income yield area. The province of Ontario is ex- pected to sell an additional $30,000,000 of 4148 shortly Junior issu convertibl advances, , including some of the did not -hold Wednesday’s ne market for them is ex- tremely narrow. This was true of in- dustrials as well as of rails. Heaviness developed again in the Seaboard Air L"l"t 6s, with Florida division 6s off a int. American Telephone & Telegraph convertible 41,5 were heavy. The con- version privilege expires in another week. There is still a substantial amount of unconverted bonds outstanding. The railroad convertibles were not so promi- nent owing to the general trend of the tock market. Washington St.ock Exchange SALES. Capital Traction Co—5 at 4%, 10 at 415, 5 at T4%, 10 at T4%. Capital Traction 35—$2,000 at 94%, $500 at 9415 Potomac Elecirio 65 1953—$1000 at 1081, w-insxé‘gmn Rwy. & Dlectric ptd.—10 District Nat. Securities pfd.—10 at 85. Mergenthaler Linotype—10 at 1067, 10 at 106%, 10 at 10614, National Mtge. & Inv.—100 at 4%. Real Est, Mtge. & Guar. pfd.—40 at 7. AFTER CALL. Capital Traction Co.—10 at 74%, 10 at 7435, Norfolk & Washington Steamboat ris. w.i—5 at 177, 1 at 170, BONDS. Bid and Asked Prices. PUBLIC UTILITY. Amer. Tel. & Telga. 4!25 133 Amer. Tel. & Telga. 425 '39. Am. Tel & Tei. ctl. tr. 5s. R.R.'S o Bid. Asked. 100 Anacostia & aplial Traction &Y% Biburpan G MISCELLANEOUS. v & Ross. Inc. 6! . e vanoi Hotel 813 se Club 5%as. § S, STOCKS. PUBLIC UTILITY. mer. Tel. & Telga. (9) NATIONAL BANK. Capital (14). . Columbia (13} Commercial (si: Distri Federal-American (10} * | Liberty (19). Lincoln 112) ! Metropolitan Riggs (15) . Second (9e) 10! Washington (13) .. TRUST COMPANY. Amer. Sec. & Trust Co. (15).. Continental ‘Trust (6). 5 Merchants' Bank ' (6) Natl. Sav. Tr. (12t Union Trust (8g).. Wash. Loan & Tru 3 SAVINGS BANK. d ‘Washington Mecha S FIRE INSURANCE. TITLE INSURANCE. Columbia_(6h) . Real Estate (6] Title & Inv. Co. Md. com MISCELLANEOUS. Wash. Med. Bl Wdwd. ‘& Lothrop 1z dividend. oks closed. n25¢ extra. 130c extr: §1% ext % ext) e1%2% extia. wiWhen issued. SHORT-TERM SECURITIES. (Reported by J. & W. Seligthan & Co.) Allis-Chalmers Co_8s 1097. ... .. S0} merican Tel. & Té Baitimore & Ohi Batavian Pet. Oorp. Goodyear P. L Grand Trunk of Gulf Oil_of Pa. Fumble Oil 535 19: Internat Match Ce Chi. & St Coke 415 32 D, 55 i Pes Peo. L & Philiips Pet. 'Co. 5% . 515 1034 Jersey 55 1946 e 1881 Bi Southwestern Ry 4s 1932 Bwift & Co. 55 1932 v ion . of C Western Eleciric Co. Wheeling Steel Corp Wheeling Steel Corp. %, e 1 - A $1,500,000 order has been received by the General Railway Signal Co. from the Toronto Termigals Railway Co., owned jointly by thl Canadian and Canadian National Railways, UNITED STATES. (Sales are in $1,000.) Sales. High Lib 3% . 33 Lib 1st 4Xs. . Lib 4th 4% US4y%ss2 Argentine 6s Ju 59, Argentine, May *61. Argentine §s Oct’s3 Argentine 514s°62.. Argentine 6s A Argentine 6s B Australia 41 s Australia 65 ‘55 Australia 5357 Austria 7 Rank of Chile 6% Rank of Chile 6% Batavian Pet 414 Belgium 8a. . Belgium 6% Belgium 7s 55 Relginm 7s '5/ Bollvar 7s'58 Rolivia 7= ctfs '69. RBolivia 8s. Rordeaux 6 Brazil 18 '26. Brazil 615827, Brasil 7s. Brazil &=, Bremen State Canada 5831, Cannda 5s'52. Chile 63’60, Chile 65 *61 Chile 7s 43y, ...... Colombia 6s.7an ‘61 Con Pwr Japan 7s. . Copenhagen bs rets Danish Munie 8s A, Danish Muniec 85 B. Denmark 414 DET5%s. Mch, DET51s,Nov '53. . Dutch East Ind' 47. Dutch East I 6s '62., Fl Salvador 83748 . Flat 7s ex war *46. . Finland §1¢s. . Finland s f 63 *45 Finland 7s. ... Framerican 7%, French 7s. French 7% E German Bank 6s°3. German FI P 614 Ger Gen Flee 7 German 7s. Greek 63 '63. Haltl 6s. Trish Free State 5s. Italy 7s Japanese 4s. - Japanese 614s. . ... Jugoslavia Bank 78 Karstadt 6s'43.... Lyonsés.. Marsetlle 6s. Milan 6%s. Netherlands 6s 72 New So Wales ‘57 New So Wales 58 Norway 58 "63. Norway 5%s Norway s '43. Norway 6s ‘44 Norway 6% '52. jOrfent dev sy g8... Orlent Dev 6553 Poland 7s (rets) Poland 8s. Queenland 7s Rhinelbe Un 7s. ... Rhine Wst EP 65'52 Rhine West6s '53. . Rio de Janciro 61 Rio de Jan 83 46 Rio Gr Du Sul 8s. Rome 6. . 3 R'y’l Dutch 4% sww Sa0 Paulo 8s '3 Sao Paulo '50 Saxon (PW) Seine 7s°42., Serbs Cr Slov Serbs-Crot-Slo 8. , Shineyetsu 6145 62 Sweeden 5%s. ..... Swiss 514846, Swiss Confed 8 Toho El Pwr 63 '32. Utd Kingm 5% s '37 | Utd SS Coren 6s'37. Uruguay 6s 60 Vienna 6s ‘52 Warsaw 78 '52. Yokohama 6s. AbItibl P&P 63 '53.. Alleghany 58 Am Agri Chem 7358 Am Beet Sugar 6; Am Chain 65 '33. AmIGCh3 9., Am Int Cor 5145 49 Am Metal 5% Armour, Del.5%s. . Atl Guif 5s'59..... Bell Tel, Pa, §s (B) Bethlehm Stl pm b3 Beth Steel rf 5s. Chile Copper bs. Col G&EI 53, May’52 Com Invest 5= 49 Com Invest 6s'48.. Con Coal. Md. bs. ... Con GasN Y 6%s.. Consumers Pwr §s. Cnban Am Sugar 8s Det Edison 6s..... Dod, Duquesne 434 s East Cuba Sug 7% Fisk Rubber 8s.... Gen Mot Ac Cor 68 Gen Pub Sve 6% Gen St Cast 5%3'49 Gen Thea Kq 65 '44. Goodyer 58 rets.... Humble O & R §s Humble O& Rb6%s 11i Bell Tel 6s. 111 Steel 4358 °40. Inland Steel ¢3% ‘78 intl Cement 5s48.. Intl Match 6847w Intl Paper 53’47 Intl Paper 6s Intl Tel & Tel 4%s. Intl T&T 4%Sev. . 7 101 103 1024 1022 12 12 Sales. High. 814 5 23 2 3 7 Kreuger&Toll bs ct 122 Low. Close. 100 12 100 12 100 12 19 10115 10115 1024 11128 112 FOREIGN._ 102 Low. Close. 98% 98 103% 825 § 82% 9% 98% 103% 103y 92 104 £74 86% 98% 100% 102% 4 103% 101% 89% 6% 6 108 Toklo 5% 61, ..... 2 Sl Allis Chalm 58°37. . 99% 90 1045 100% LI 8% 9% 26% 87% 9% 96 MISCELLANEOUS. 102 101 101% 101% 943, 94% 9T 9T 491 481 6 106% 1064 Gen Thea Eq 6s'40.216 12 51 6 28 4 28 1 3§ 1 57 Intl Tel&Tel b3 '56. 106 Kan City P & Lt 6s. KanG & £ 63 52... Laclede Gas 5s. Laclede 5% '53 Laclede 5% s D Larillard b%s. Lautaro Nitrat Loew's, Inc, 6! “ | Loew’s 63 w o war. Lou Gas&El 58 '52. Midvale Steel b: Montana Pwr '43... Montana Pwr db 5s Nat Dairy 6%s. N Y Edison 6s"44.. Y Edison 6%s. YG&EHPSs.. ¥ Tel 4%s. . Y Tel 654 No Am Ed 5%8 62, N N N N Pacific Gas & E1 55. Pac T & T 1st b: Amer Pete ramount 6s 47 Pathe Exeba 1 2 101% THH 103% -103% 99 99% 106% 106 9% 95 9% 98% 103% 103% 92 104 £7% ({C& W Ind5%s’62 104% 1043 105% 101% % 103 2w 93% 82 125 Bty 103 101% 102% 101% 99% % 1044 1135 106 1004 106% 108% 10:% 101% 105% 101% 103% 102% 93% 828 1284% 97% 103 Phila Co 5s 2 PhilX & Read 65°49. 16: Py Stnclatr Of1 Sinelair Oil Stand OIL N Y.4 %s. Tenn El Pwr 6s°47.. 1 Tex Corp ev b3 “44.. 1 Transcont] Of1 634, Warn Bros P 6s '49.3. Western Elec s . Westn Unfon 55'51.. Westn Union 63%s. Willys-Ov 6345 '33.. Wilson & Co 1at 6s. 1 1 2 3 3 6 1 3 1 2 5 . Low. Close. 1 107% 96% 101 Youngstn S &T 6s.4 3 102 RAILROAD. Ann Arbor 4s. Atchison adj 4 Atchison gen 4s. Atch deb 4%s "4 Atl Coast L 1st 4s.. Atl Coast Line 4s. . B&Ocv4%s . B&Oecv445760... Buft & & Pitts 4%s. Can Nat 41357, Can Nat 435 ‘6 Can Nat 5s. Oct '69., DR Can Nor 634s. Can Northern Can Pac deb 4. Cent of Ga 55C 59 Central Pacific 1 &Ohio Corp 6s. 1 & Ogendlys. ., i £ 7 5 5 8 0 2 0 3 Ches& O 4%sB'95 63 CB&Q4%s"1B.. 1 Chi & E 11l gn 63 51. Chi Gr West 4859, 2 5 54 ChiMIIStP&P 65'76. 25 CMSP&Pac adj5s03 46 Chi NW 4%s52037.. 10 Chi & NW con 4%s.138 Chi & NW ref 5: vodl C& W Ind con 4s CCC&StL 4%s (E Clev Term 43571, Colo & Sou 4%s. ... Conn Ry&L 4%s st. Cuba RR bs ¥ Cuba Nor 534 rets. 1 1 Del & Hud 1strf 43 38 Del & Hud §%. Den & Rio G cn Den&RGW 58 ‘55 D R G&Wst 5578, Det United 4%s. Erie 15t con 4s.. krie conv 48 (A). Erie gen 4s. . Erle 55, 196 Erie bs, 1975..... Fla East C 63'74. Grand Trunk 7s Gt Nor 4348 '76( Great Nor geo 7 Gulf Mo 55 (B) Hav El Ry 5%s 51 Hud & Man ad) 5s Hud & Man ref §s, 111 Cent 45 * 111 Cent 4% s °66 Int Rapid Trans 5. Int Rap Tr 5s stpd. Int Rapld Trans 6s. Int Rapid Trans 7s. 16 Int & Gt Nor adj 6s. Int Rys C Am 5s. Int Ry C Am 6s Int Rys CA 6%sxre. 2 4 2 1 Towa Central ref 4s 20 Kan City Ft S 4 Kan City Sou 6s. Kan City Term 4s.. Lake Shore 314 Lake Shore 45 Lehi Val con 4. LehV gen 4% 20 Long 1sl 65 '37 Long Isi rf 4 L& N uni4s. L &N 433 200 ManRy 1st 45°90. .. Mill El Ry&Lt 4%s Mill El Ry&L 65°61. 1 Minn & StL cn 5s. M StP&SSM con 4s. M StP&SSM 65 gtd. MK & Tex 1st 4s... M K & Tex 45 (B). . M K&T prIn 58(A) Mo Pacific gen 43, , Mo Pac 68 F 17 Mo Pac5sG'i8.... Mo Pac 63549 cv. Mont Trm ref 55'41. NYT&MSY%s N Y Cen gen 33 N t 43°98 N Y Cen deb 4 N Y Cen rf im &StL4%sC. &StL5%sA 1 L 6231 N H &H 45 56 NH&H 4% 67, NH&H evdb 6s 1 NH&H it 6s.. 1 EEloled Nor Pacific4s..... Nor Pacific ref 6s.. 4 Ore Short L con §: Ore Wash 1st Penna 4% 1970 Penna gen 4% Penna 4% s '63 Penna gen Penna 65 64 Penna 6. Penna O&Det 4%, Peoria E 1st 4s. ... Pere Marg 1st Pere M 4%s 1950.. Pere Mara 1st 5 Port EIP L 6s Port RL 65 '47. Reading gen 4% A. RIArk& L 4%s StL IM&S R&G 4s StL&SF pl4sA. SIL&SF4%378. StL & San¥r in 63, StL S W 55°52 StP & KCShL 101% | 3 10214 101% mml 102 Sou Pac 4%s rets. . Sou Pac 4% 5'69 ww Scu Rwy gen 4 1 Sou Rwy e Sou Rwy 6 Sou Rwy 6% Term Asso SL 4 Tex & Pac 58 C*19. Tol Tr L&P 5% 8'30 Union Pac Union Pa 4 105% 105% | Virginia Ry 4 102% 102% | Wabash 4% 578 ret. 102 106% \ 5 102 107 Wabash 1st 5 Western Md 100% 101% \Vest Ma 5 F 73% _78% WestShoreés6l..0 4 83% 88% - n EETCET ) s San mEoSunaearRen BT 2 £214 90%, 947, D12 135% 93% 90% 100% 103 104 51 2 6 91 113% 1041 91% 958 99 105 96% 951 98% 38 98% 95 100% 1031 100 97 95% 104% 103% 104% 103 9% 106% 9314 90%, 100 102% 100% 1054 067% 6% 98% 38 984 95% 100% 1035 200 97 96% 104% 103 104% 1034 9744 106% 105 103% 100% 9914 9% 91% 66% 97% 101% 1063 109 99 954 98% 534 100 1001 N 88% 08 88% 87 102% TRY 9914 100 % 109 99 4 101% 91 1131 1041 9% 95 100 100% 4 10814 103%y 108% Bl 92 987 100% 1063, T9% 963 10734 1014 102% 86 105% 6 9 15 891 92% 91 113% 1041 9ty 994 0% CHANGES FORECAST Westward Tendency of Popu- lation Expected to Cause Site Removals. BY J. C. ROYLE. Many changes in factory location undoubtedly will follow the complete compilation of census reports. Figures already available show that the center of population has moved decidedly westward from Whitehall, -Ind., the 1920 center. It is probable that it will be located near or across the Indiana- Tllinois line. The location of this center is of considerable interest to industrialists and manufacturers. The closer they can produce their goods to the center of population the less they must sac- rifice in transportation costs. The Middle West, therefore, is pre- paring for a period of industrial activ- ity. This is shown by the marked in- crease in the volume of electric power now available. The building of new cen- tral power plants is only in its begin- ning. Then, too, the natural gas lines, which will ‘eventually furnish fuel to scores of plants in the Midwest, have already reached Illinols and construc- tion to Chicago, Milwaukee, Detroit, Indiana points and Ohio centers will be only a matter of a few months, accord- ing to some authorities. New Facilities Planned. The railroads are preparing addi- tional terminal facilities for handling the increased volume of goods for this section, and real estate men are plot- ting out industrial housing sections in a score of cities. ‘The preliminary reports would seem to indicate a period of expansion for the Middle West, but the manufacturers in other sections are not ready to give in so easlly. They are studying the census charts to determine what sec- tions are responsible for the shift in the center of population.. Census au- thorities declare the population inerease in California is chiefly responsible, They point out that the center of population is based on the balance of i 109% 123% 90 102% 100 117% 123% 90 1024 93% 102 B4 99% 8% a potentially weightless United States and the population when close to the center does not exercise as much weight in the movement as when it is far distant. That is why the gains in California have been instrumental in bringing the b:zntcr westward. This has always n shown since 1790, when the center was 23 miles east of Baltimore. As a result of studies of these facts, it seems likely that the manufacturers on the Eastern coast will either turn more attention to water transportation or es- tablish branches in the far-distant sec- tions, close to markets. This would entail greater use of the Panama Canal, whith now finds its greatest use in intercoastal shipping in the transpor- tation of oil from California, This should give an impetus to the port ac- tivities of a score of Eastern cities and make the Gulf ports of even greater importance. Midwest Centers. ‘The Midwest manufacturing centors are counting heavily on the use of in- land waterways such™ as the Great Lakes and the Illinois, the Mississippi, the Missouri, the Ohio, the Red and the Warrior Rivers. These waterways, when their channels are deepened, will give access to a vast inland territory as well as carry goods to Gulf ports and to the Atlantic for intercoastal and transoceanic shipment. The policy of establishing branch factories on the Pacific Coast, which has been noticeable in the automobile and tire trade for a long time, is spreading fast into other lines, as re- cent_acquisitions of the United States Steel Co. in that section bear witness. New England anrd other seciions be- coming more removed from_the center of population are laying plans to_cut costs in other dircctions to enable them to meet competition from firms with less haulage costs. (Copyright, 1930). Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., May 15 toes, white, 100 pounds, 2.25a3.00; bushel, 1.25a2.25; sweet potatoes, barrel, % |2.50a4.50; yams, barrel, 3.50a4.00; as- paragus, dozen, 50a2.00; beets, crate, 2.00a2.50; beans, hamper, 1.00a3.00; cabbage, hamper, 1.00a1.25; caulifiower, crate, 2.00a2.50; celery, crate, 3.00a 4.50; kale, bushel, 40a60; lettuce, hamper, 1.25a2.00; lima beans, bushel, 7.00a8.00; onions, 100 pounds, 50a1.00; green, 100, 1.00a1.25; radishes, 100, 1.00a3.00; spinach, bushel, 40a60; squash, bushel, 1.2522.00; tomatoes, crate, 1.50a apples, bushel, 1.25a 3.50; grapef#fiit, box, 2.50a6.00; oranges, box, 3.7589.50; pineapples, crate, 2.50a 3.00; strawberties, quart, 10a20. Dairy Markets. Poultry, alive—Chickens, Springers, pound, 30a40; Leghorns, 25a33; old roosters, 13a16; old hens, 23a25; Leg- horns, 17a32; Spring ducks, 24a25; guinea fowls, each, 50a75; pigeons, pair, 30a35. Eggs—Receipts, 4.939 cases; nearby firsts, 22; hennery, whites, firsts, 23, Butter—Good ~to fancy creamery, pound, 35a37!>: ladles, 25a38; rolls, 25a28; process, 30a31; store packed, 20. Live Stock Market. Cattle—Receipts, 150 head; light sup- ply: market steady. Steers—Choice to prime, none; good to choice, 11.00 to 12.00; medium to good, 10.75 to 11.30: fair to medium, 10.00 to 10.75; plain to fair, 9.00 to 10.00; common to plain, 8.00 to 9.00. Bulls—Choice to prime, none; good to choice, none; medium to good, 8.00 to 8.50; fair to medium, 7.75 to 8.00; plain to fair, 7.25 to 7.75; common to plain, 8.75 to 7.25. Cows—Choice to prime, none; good to choice, none; medium to good, 7.00 to 8.00; fair to medium, 6.00 to 7.00; plain to fair, 5.00 to 6.00; common to plain, 375 to 5.00. ¢ Heifers—Choice to Frlme, none: good to choice, none; medium to good, 9.00 to 10,00; fair to medium, 8.00 to 9.00; plain to fair, 7.00 to 8.00; common to plain, 6.00 to 7,00. Fresh cows and springers, 50.00 to 110.00. Sheep and lambs—Receipts, 200 head; light supply; mark lower. el Sheep, 2.00 to 6.00; Spring lambs, 10.00 10 12.50. Hogs—Receipts, 1,000 head; light sup- ply; market lower; lights, 10.80 to 11.05: heavies, 10.00 to 10.85; medium, 10.80 1o 11.05: roughs, 7.50 to 9.35; light pigs, 10.00 to 10.60; pigs, 10.60 to 10.90. Calves—Receipts, 75 head: light sup- Hyo:o market steady; calves, 6.00 to Hay and Grain Prices. Wheat—No. 2 red Winter, export, 1.05%; No. 2 red Winter, garlicky, spot, 73s; May, 1.07%; No. 3, garlicky, no quotations. Corn—No. 2 domestic, yellow, new, 93a94; cob corn, new, 4.75a4.80. ss?ln'gl_N;- 23 w!;:;e. :omuu:, spot. 15834; No. 3 white, domestic, 52a527 - Rye—Nearby, 75a80. . Hay—Receipts, 10 tons. The general hay market continues quiet under light receipts, mostly by trucks. but ample for the demand, which is limited. While not enough hay is arriving on which to establish values by grades or carload tter grades of timot! clover mifed are in fair SILVER QUOTATIONS, NEW YORK, 15 (#)—Bar sil- ver, 40%, s g m 4 M,. s