Evening Star Newspaper, May 15, 1930, Page 15

FINANCIALDL, CURB IRREGULAR IN SLOW TRADING Natural Gas Shares Prove| Feature—0ils, Aviation and | { + Other Groups Quiet. BY JOHN A. CRONE. Mpecial Dispatch to The Star, NEW. YORK, May 15.—Public utili- ties, especially natural gas shares, led today's active, but irregular, curb mar- ket, Poor earmning reports, announced by several utility holding concerns, falled to offset merger rumors as a market factor in utility movements. Electric Bond & Share was nearly a point higher at times and absorbed profit-taking well. Nevada-California Electric moved 2 or 3 points between sales, usually downward, at intervals showing a loss of 10 points. Citles Service, which offered more than $42,000,000 rights to subscribe to new convertible bonds, maintained its level fairly well, despite being quoted ex-dividend. The rights, after closing on the Produce Exchange at 15-16, opened on the curb in a lot of 3,400 shares at 135, p Duquesne Gas Corporation, which was oversubscribed before formal of- fering, appeared in an initial sale of 16,000 shares at 161, up fractionally from its Produce Exchange close. American Natural Gas, which is re- ported to be about to merge with Lone Star Gas, rose a point, while the latter Wwas up about half that amount. Among lower priced oils, American Maricaibo hit a new high, Lion Oil & Refining dropped 1% and Venezuelan Petroleum was fractionally lower, while Reiter Foster moved higher. Buying in building and allied issues continued on a fair scale, alding such shares as superheater and Starrett. Corporation preferred. Aviation issues were inclined to rext after their recent spurt. New York, Rio and Buenos Aires was the most active. Insurance and insurance security holding companies came in for greater investment attention. Empire Rein- surance was up 3 points at & new peak ce. St. Lawrence Paper Mills pre- ferred, usually an_ inactive issue, rose a point following the decision to merge that company with Brompton Pulp & Paper and Lake St. John Power & T, ific Coast Biscuit common rose to & new high as National Biscuit's stock exchange application to list additional Tevealed that the former had been acquired by the latter. Swift In- ternational pointed higher as Swift & Co. eased. Hygrade Food was a small fraction higher. hi BONDS ON THE CURB MARKET. Sales DOMESTIC BONDS. f n thous: High. Low. Close. o Alabama_Pow e '8 103% 10373 1034 Aluminum Ltd 85 48100 ~ 100 = 100 Am Aggre €5 43 ww 85 ‘A 14 A ‘I 3 ] 4 BEES5 S o mba e 22 k& 3e83502 eRneSSEnaney FETE P, PS8 EBare 28 oForaS P saandS! 858 - = TR Lt 555557814 andard Tnv 5s “37. 8¢ andard P_&L 65 57 ex City Gas 5s '8 B T T S T 2305300 3u-uia accac e 3 35 3% 97 /an Sweringen 65 '35 100 y 4las B 62 07! ;¢ 1008 €155 133 es Penn 5x 2030 wi 93 vest Tex UL 88 A '57 1'% ‘est Union Tel 55 '60 103% FOREIGN BONDS. ££52% 3 25 s ma TS 10 i) 9997 42w Isotta Fras 7s '42 xw ow 65 1d M&S 7s ‘41 88 &5 75 41 s 751 wi ith Warsants. . EW—Without warrants, Notice—All stocks are sold in one hundred-share lots excepting those designated by the letter s (65s) which shows those stocks to be ~Prev. 1930.— igh, Low. 3 7 Hi 1 as 18% a4 Stock and Dividend Rate. % Acetol Prod (A)..... 33% Addressograph (1%) | 8 Aero Supply (B).... Agfa Ansco. ) Air Investors v.t.e... Alr Investors (war). Alr Inv, Inc, cv pf... Alexander Indust. .. All Am Gen Corp..., Allegheny Gas . Allen Mg (B) (1)..0 Alijed Aviation. Allled Mills (§0¢). . Allison Drug St (B).. Aluminum Co of Am Am Book (7).e.ee.on Am Cit P&L(A) (a3) Am C P&L(B)(10%) Am Com I'(A) b10%. Am Co'with Pwr war Am Control Oil Flds. Am Cynam B (1.60 r).u Am Gas & Elec (11). Am Gas&Elec pf(6).. Am Invest, Ine (B).. Am Invest (War).... Am Lt&Trac (n) Am Maricabo. . Am Natural Gas. Am Service Co. Am Superpwr (1 A.n Super 18t pf (6). Am U&Gen B vte 40a Am Yvette (n) w.i.., Anchor P F (b10%). Anglo Chil Nitrate. . Appalachian Gas. ... Ariz Globe Copper. .. Arkansas Nat Gas. Ark Nat Gas (A) Asso Dyeing & P Asso Elec Ind (30c, AsEo Gas & Elec. ..., AsB0 G&E (A) 12.40. Asso Gas&El ctfs(8) Asso G&E (A) db rts Asso Rayon pf (6).. Asso Tel Util (b7%). Auto Music A(11.05). Aviation Corp of Am Aviation Securities. , Axton-F Tob A (3.20. Bahfa Corp. . Bellanca Alre; Rigelow Sanf Cp (8 Bliss Co (E W) (1) Blue Ridge Corp. Blue Ridge cv pf(a3) Bower Roller Bear. . Brazil Trac & Lt (2), Bridgept Mach (25¢). Brillo Mg veoenensi Brit Celanese rets, Brown F&W,B(2.40) Burco, Inc. . Burco, in¢c (war).... Burma Corp (131¢) Buzza Clark, Inc..ex Canada Marcont, 9 Carib Syndicate Celanese 1st p{ Cent Pub Sve. Del. Cent P S (A 5. Cent & Sw U(b6%) .« Cent States Elec 3408 Chain Stores Dev. ... Chain Stores Stoc| 4 Chathm Phoe Al n-v. Chem Nat Asson-v., Chicago Corp (The)., Citles Service(330e), Cities Srve pt (6) Clark Lighter (A)... Clev Ll dilum (1.60). Clev Tractor (1.60) Cohn & Rosen, Inc. ., Colombia Syndicate., Colts Pat Fire A (2). Col Ol & Gas v.te...; Columbia Pic (313 ). Colum Pic v.t.e.(1'4) Com'with Edison(¥) Com'with & Sou war. Comm Wat Serv b6 % Comstock Tunnel. Conn Elec Sve (3), Auto Merch. * o 07 06 02 07 1 B30 6 B I 0 O 1 2 03 O 0% B 1 B b O e v 82 3908 b - » e n Con Gas UtilLB v.te. Consol instrument. . Consol Laundri - & Consol Royal (6Uc) Cooper Bessemer(2), Copeland Prod.ine A. Copper Range (2)... Corp Secur, Chicago. Cord Corp. Corroon & Cosden Oil. Coty,So Ano 4 Courtaulds (s0c, Creole Petroleum Crocker Wh Cuban Cane propt w, Curu Wright ware Cusi Mex Mining. Dayton Alr & Eng... Deere & Co (11.30) ., De Forest Radio. Delsel-Wem-Gil 1 Derby Oil Refining Detroit Alrcraft. Dixie Gas&Utilities., Douglas Alr (76¢). .. Dres(SR)MIg A 3%. % Dresser (S R) B (2)., Driver Harris(new). Dubilier Cond & Rad Durant Motors. ..., Eastn Sta Pwr B(1). Eastn Uul Asso (2) o - o el erros SR rrehe ren e Ra R e ? - oo ot ki Kl il Bond & Sh pt (6).. Elec Pwr As80 (1).. Elec Pwr Asso A (1) Bles Pwr & L op war, Elec Shareholdgti1) Electrographie (2) .4 Empire Kire ins. .. Empire Power (2).., Employ Reins(1%) Eng Pub Sve (War).. Eurep EL Ltd.A 6ve. Euro Elec deb ris. Fabrics Fininshing Fairey Aviation Falcon Lead Fansteel Produ Fiat receipts ( Film Inspect Mach. . Flintkote (A) (1%). Firemen's ¥d Ins(5) Foxxer Alrcraft..... Foltis Fischer Corp., Kora Motor, Can(A). Ford Mot of France. Ford Mor,Ltd. 31 % Fox Theater Cl (A). Garlock Pkg (1.20) Gen Alioys (800). NI » L T LT O - U T TTUPR PRS-~ =R Gen E, Ltd rcts(50e) Gen Empire Corp. .., Gen G&E v pf B(6). Gen Indus Alconol. . n Laundry Mach. Gen Mot pf new w.i... Gen W W&E(A) (2). Gleaner Com Har(2) Glen Alden Coal 8. ... Globs Underwrites Gold Coin. ves Golden Center Goldfield Consol. ... Goldman Sacns(b6) . Gold Seal Klec new. . Goth Knitback Mach Grand Rap Var (1) GrA&PTn-v(5). Gr A &P Tea pf (1) Guenther Law (2)... Gulf Oll of Pa(13%). Happiness Candy. .., Helena Rubenstein Houston Oll of Tex n Hudson Bay M & 8. Humble O1l (2)., Hydro Elec Sec (2) Hygrade Food Prod. Imp Oil, Can, n(50c) . Ind Terr 11lu Uil (A) Ind Terr 1llu Oll (B) Ind #in ctfs(b10%). Indus Fin ev pf (7)..2268 Insull Ut Invib6%). 4 I - = Insurance See( Intercontinent Pet Int Holdg&Inv 10e intl Pegroleum (1) Internat Product: Intl Superpwr(11). Intl Utilities A(3%). Internatl Util (B 1 Internatl Utll (wiar). 10% Interstate Equis 20% Bk 21 I o 200 8y 211 104 26 6% B6% 124 i 14% 27% 11ty 3% 36 THE EVENING STAR, WASHINGTON, D. €, THURSDAY, MAY 15 1930. TRANSACTIONS ON THE NEW YORK CURB MARKE( (285) | e ~Prey 1930.—~ h Stock and Low. Dividend Rate. 40% Interst Eqev pf(3).. Irving Afr Chute war Irving Air Ch(1.50) Italian Super war. Italian Superpwr Kolster-Br (Am 8h). Lakey Foundry...... Lehigh Coal & N 1.40 Leonard Oil. . - Lerner Stores (2).... Lily Tulip Cup 1% Loew's, Ine, deb rts.. Loew’s, Inc (war)... Lone Star Gas,n (1) Louisiana Lan & Ex. MacMarr Stores (1). Magdalena Synd.... Mangel Strs pf(6%). Mfg Finance v.t.c.... Mare Int M (52 14e). Marine Mid (1.20) Mass Util Asso. Mavis Bottling...... Mayflower Asso (32), Memphis Nat Gas. .. Mer Cha & S (1.60).. Mesabi Iron. . o Met & Min, Ine(1.20) Met Chain Stor ' Mexico Ohfo Oil..... Mid Wst Util(b8%).. Mid W Sta Ut (1%).. Mid Sts Pet v.t.c. A, % Mid Sts Pet v.t.c. B Min Corp of C (25¢ Mo Kan P L (b10%) Miss K P L v.tc. Mount Prod(1.60)... Natl Amer Co. . atl Aviation....... Natl Fam Strs(1.60). Natl Food Prod (A). Natl Fuel Gas (1)... atl Investors(new) atl Pwr & Lt pf (1) Natl Pub Sv A(1.60). Natl Screen Sve(2).. Natl Short Trm SecA Natl Steel x-war(2) Natl Sugar, NJ (2 Neet. Inc, ev A(1.60). Nehi Corp (1.30).... Nelson (Herman) (2) Nevada Cal Elec. ..., i Nevada Cal E1 pf(7)w New Brad Oll (50c).. New Eng Pwr (2 New Eng Pwr pf (6), Newmont Min (34).. N Y Auction. . . N Y Rio&Bu Afres. .. Niag Hud Pwr(40c).. Niag Hud Pwr,A war Niag Hud Pwr B war Niles-Bement-P 234 Noma Elec (1.60).... Noranda Mines (3).. No Am Aviat A war.. Nor Am L&P (b8%) Nor Sta Pwr A(8). .. Novadel Angene (2)., Ohlo Cop % e, 103 Ohio Oil.new, eu pf. 814 Otlstocks. Ltd A 3508 10t Outbd Mot(A)(1.80). Pac Coast Biscuit (1) Pac Coast Bis pt 3.50 Pac Pub Sve (1.30).. Pacific Ltg pf (6). Pac Western Ofl. . Pandem Oil Param't Ca Pennroad Corp. Penna Pwr&Lt p: Petrol Corp (1%). ol Corp war. ..., Thilippe(L) A 11.80., Philippe(L) B 11.80., Pilot Ra T(A)(1.20). 4 Plymouth Ol1 (2)...u Polymet Mfg (11).., Premier Gold (24¢).4 4 Prince & Whitely 1., Prince & Whit pf(3), Prudential Invest. .. Pub Util Hold w w. ., Pub Util Hold war. . Puget Sound prior pf Railroad Shares. RY & Util Inv (A) ... Rainbow Lu Prod A., Rainbow Lu Prod B.. Reiter-Foster(40¢) . o Reliable Stra(bs%) . Reliance Manag. Reynolds Bros, Inc.. Rike Kumbler(2.20) . Roan Antelope Min. . Rocklans Lt&P(92¢) TRolls-Roy of Am pf.. i Ross Stores, Ine. Rossia Intl Corp. .. Ryan Consolidated. St Law Paper Mill St Law Pap M pf| St Regls Paper (1) St Regis Pap pf (7 Salt Creek Prod (2 Schiff(The) Co (2).. * Schulte Un bc-31 St., Seaboard Utllities. ., Sec Corp Gen new (4) 4 Seg Lock & H (50c).. Selected Industries., Sel Ind allot ofs 63 Select Ind pr(5%)... Sentry Safety Cont.. Shenandoah Corp. . .. Shenan Corv pf (i Silica Gel Ctfs. . Silver(Isaac) pf Singer MIg (126).... Sisto Finance Corp. . South Coast 4 SoCalEdpfA (1%). So Cal Ed pf B(1%) . Southern Corp.... 4 Sou Natural Gas. Southland Roy (1) S W Gas Utllities. Spanish & Gen Reg. . Spigel May S pf(6%) Std Cap&S new (2.40) Standard Motors. . Stand Oil, Ind (3%). Stand Oll Ky. (1.60) . §td Pwr & Ltpf (7)., Stand Pub Serv (A)., Starrett Corp. Starrett Corp Steinite Radlo. ; Stromberg Carl Sun Inv pt (3)... Sunray Ofl (40¢) Superieater (13%).. Swift & Conew (2).. Swift Internatl (214) Swiss-Am ELpf (6).. Taggart Corp (1)... Tampa Electrio (32) Technicolor, ine. ... 4 Thatcher Sec Corp. ‘I'hermoid Co pf (7). 525 Tobacco Pr Export: 4 Todd Shipyard (4 Transamer ($1.60) Tran Con Afr Tran Trans Lux DL P § Truns Pork S (1.60 Tubsize Chatel (B) Tul ul Ungerleider F Corp. Union Tobaceo. . Unit Car Fastnr(80c) United Corp (war). . Unitt Dry Docks. Utd Founders(b2.35) United Gas Co...... United Gas Co (new United Gas (war). United Gas pf (7). United Gas Corp et Utd Lt & Pwr A(1) Utd Lt & Pwr pf(6 Unit Molasses, Ltd U S Dairy (A) (6). U S Dairy (B). U S Elec Pwr (war).. U 8 Finishing pf(7).. U S Foll us us U S Playing Cards 16 U 8 Shares Fin...... Utd Verda Ext (4)..: Utility Pwr&Lt(al). Utility & Ind........ Utll & Ind pf (13%).e Utliity Equities. . Vacuum O} (14%).4 Van Camp Packing. . Venezuela Petroleum Vick Financial Corp. Walgreen Co. Walker (H) (1). Walker Min (7%e).. Watson (J W) Co.... K4 Wayne Pump........ 35 Wayne Pump pf 33%. 90 Western Md pf (7).. o E ERRFeen eemh e Sates— Add 00. Open. High. 2 1 - w MANIBBRINNAN & nhaa - E H a & @3 E AR URENANNE BT DN RI s T E D T D i 30 30 B o 83 B caotom e BB Lo - - TR AR NS e WS e S SnNenBuen pe 32 a5 . 1 osi < welancuamnne ca o - sancomm awadamrSTans e ol 8 1 508 42 « | Justice had filed suit against his corpo- 4 | ates, to determine whether these corpo- ~Prevy 1930.— High. Low. Stock ana Bales— Dividend Rate. _675 _58 _ Winton Engine (4). w2 SUIT BE PRESSED Company Official Is Anxious to Have Issue Settled in Courts. BY JOHN F. SINCLAIR. Special Dispatch to The Star. NEW YORK, May 15.—Fine! settle it now—once for all. That's substantially the comment of Owen D. Young the Radio Corpora- tion of America alter the Department of Let's ration, the Weetinghouse Electric and General Electric and several other affili- rations were violating the Sherman anti- trust laws in pooling their patents and operations in the field of radio equip- ment, manufacture. The Young contention is that the Radio Corporation was established pri- marily as a holding company to group % | violation of the Federal law will be * | Forest Radio Corporation—which owns together enough patents owned by vari- ous _corporations into one concern and to permit the radio industry to manu- facture recelving sets and sending mes- sages without infringement. So organized, the Radio Corporation licensed different cdmpanies—14 for the manufacture of radio tubes and 34 for radio scts—and the industry took on new life and vigor. Whether there has been a_technical - termined soon. The Radio Corporation is' in _a powerful position at the moment—the dominating position in the industry. But there are others—like the De many basic radio patents. The patent situation in the industry is still a long ways from being cleared up. Monopoly charges have been made against the Radio Corporation repeated-. 1y in the last few years. This present Government _action is healthy, and should help clear the whole atmosphere. Unless, perhaps, by opening it up, it brings in its wake a series of basic pat- ent suits which will put the industry in an unsettled position for years. With Watson Washburn, Assistant United States Attorney General, delving Add 00. Open. High. Low. Closs. | High, 107 100% Westn Pwr pf (7)... 505 106 106 106 106 371% 30% West Tab & Sta (2).. 34 34w 6 2% Whit. Eagle O dbrts 49 4w 15% 64 Wil-Low Cafeter 13% 13% 13% 3 62 62 62 62 Woodley Petroleum 4% 4% 4% 21% 14% Zonite Products (1).: 17 17 1% 17 - YOUNG ASKS RADID| ~Prev 1930.~ Low. B4k 1% 1 23% 20 Cle: JL Ivid % lnmnvnlmrm in eash or stock. Washington Produce Butter—One-pound prints, 381239 tub, 361483715, Eggs—Hennery, ceipts, 22a23. Poultry, alive—Turkeys, hens, 2: toms, 20a22; Spring broilers, 38a40; Winter chickens, 32a35; Leghorns, 30a 33; old hens, 23a24; capons, 32a35; ducks, 15a16; keats, 60a65. Dressed— Turkeys, young, 34a35; old, 30a32; Spring broilers, 46a48; Winter chickens, 37a38; Leghorns, 36a37; fowls, 28a30; 24a25; current re- Meats, fresh killed—Beef, 20a23; veal, 5 rorl( loins, a28; 5; fresh shoulders, 22; smoked hams, 26: smoked shoulders, 20a22; bacon, 26; lard, in packages, 13; in bulk, 12. Live stock—Calves, 8al10; Spring lambs, 11a12. Vegetables—Beans, Florida, 2.2522.50 bushel; South Carolina, 2.50a2.75 bushel; peas, Carolina, 50a1.50 bushel; cucumbers, Florida, 3.50a4.00 bushel; Summer squash, Florida, 1.50a1.75; pep- pers, Florida, 3.00a4.50 crate; cabbage, 1.75a2.00 basket; corn, Alabama, 2.25 Ei:;:(et; lettuce, North Carolina, 1.75a Fruits—California__ oranges, 5089.00; large. 6.50a7.00; grapefruit, small, 5.50; large, 4.50a5.00; Western box apples, 3.25. GRAIN MARKET CHICAGO, May 15 (#)—Brisk gains in price and more active dealings went hand in hand today in the wheat mar- ket here. This development was largely due to the fact that Argentine wheat shipments abroad are the smallest in years at this season, and that the amount of wheat on ocean passage to Europe from all countries is reduced to the least total in nearly a quarter cen- tury. Talk was current that it would not. be surprising if the United States this Summer enjoyed the best export demand that has been met with for many seasons. ‘Wheat closed unsettled 34al1l; cents higher than yesterday’s finish. Corn closed a up, oats, Ysa%-cent off and provisions un- changed to 5 cents decline. small, July o September into the spectacular decline in two New | juj York stocks last week comes the report that the individual who asked for a receivership against the Celotex Co. was not a stockholder of record and glfily ?,:d t::e stock two days before ing the suit. Tge Stock Exchange, too, has started its own investigation. It expects to have a report shortly on all recent operations in_this stock—on both the “bear” and the “bull” sides. How can such a problem be met? The Celotex stock sold at $43% a share on May 7. Suit for receivership was filed May 8 at Wilmington, Del., and the stock dropped from $427: to $20 in two hours, recovering 8 points later, closing at_$28. B. G. Dahlberg, the president of Celotex, when asked about the situa- tion, said to this writer: “The game played on us was a sharp game and should be made as unlawful as the beer racket or any of the other Chicago rackets. 1f people are allowed to conduct business on or through the exchange in this manner, no company and no securities will be safe from at- tack.” ‘Why not have Federal incorporation of all corporations doing an interstate business, with a provision that no one who has not been a stockholder of record for at least 60 days can file a sult for receivership? This at least would minimize the danger. If Federal incorporation is not prob- able, why can't such a provision be in- corporated into the laws of New York and other States? The charges made here by the presi- dent of the Celotex are worthy of very thorough investigation, not o?‘llv‘ by the Government, but by the officials of the Stock Exchange itself. The large pile of gold which has come into the United States since the first of the year—$183,000,000—exceeds the amount which came in for the cor- responding period of last year, when money rates were high and the ten- dency was all in the direction of gold rt. port. But Europe has sent no gold. Most of it came from Latin America and the Far East. New York has received from South America a net gain of $62,463,000 since the first of the year. San Francisco has received $106,000,000 of gold from 915 | is not quite fair. 2 | lov:-priced field the output is fairly sat- the Orient, of which $99,000,000 came from Japan and $7,000,000 from China. So the gold export and import move- ment is not exactly clear. When the stock market dropped last Fall, and rates went down, most economists be- lieved that gold would flow out of the United States in large amounts. It did—for 30 days. But it soon stopped, and since January its been coming in in greater and greater volume. At the moment, gold import from Europe is ex- pected, British sterling being very weak and almost at the gold export point. What's the answer? Probably that Prance and England and other Euro- pean countries, which have surplus money to invest, instead of taking it away after the crash, have left it in the United States. The situation—a most peculiar one— will occasion plenty of economic discus- December 1 NEW YORK COTTON NEW YORK, May 15 (Special).— Though weather developments were more favorable than for some time, cotton prices were maintained within a narrow range owing to predictions of unsettled weather west of the Missis- sippl, where dry warm conditions are desirous. The volume of business was the small- est in several days and final guotations were about unchanged from Wednesday on the old erop, with an advance of 10 points or more on the new. Spots were unchanged at 16.35, Cotton range: -} a SEFEGIRRRS 3 P ren 5 25RERE" May Qctoher October (new) December (old) Decemb S8gesaans . 28525850t 33233238834 SEREEERRRE o~ Markets at a Glance NEW YORK, May 15 (#)—Stocks weak: Auburn Auto breaks 27 points | to 1930 low. Bonds firm; rails lead ad- vance, Curb easy; leading issues sag moderately. Foreign exchanges ir- regular; sterling lower on Bank of Eng- land statement. Cotton steady: loe.ll covering. Sugar higher; better spot de- mand. Coffee lower; Brazilian selling. CHICAGO, May 15 (#)—Wheat firm; good export sales, Corn steady: fore- cast unfavorable weather, Cattle steady to higher. Hogs lower, WESTERN MARYLAND RWY. BALTIMORE, May 15 (Special).— May opened rather auspiciously for the Western Maryland Railway, a0 far as gross earnings are concerned, estimated figures for the first week of the month Just issued indicate. Earnings for the week were $351,086, an increase of $7466, or 2 per cent, compared with the corresponding week last year. Of the gain, $5.448 was ac- counfed for by receipts from miscel- laneous freight. This was an increase of 77 per cent in that item. Receipts from coal traffic were $1,285 larger than last year, a percentags gain of 1 per cent, while freight, other than coal, contributed $2,592 to the total increase. g NEW YORK BANK STOCKS NEW YORK, May 15 (#).—Over-the- counter market: slon., | Sh While April's output of motor cars— | estimated at 460,000—was an increase over March, production is not yet back | to normal. Of course, to compare the industry | this year with the corresponding period of last year when things were booming It is in the medium and high priced | cars where production is off. 1In the isfactory. In bout six weeks tlie British car— the Austin—is to be placed on display in many parts of the United States, ac- cording to Arthur J. Bryant, the presi- dent of the American company. It is a low-priced car and is expected to give real competition in this field. Business cannot return to normal un- til the steel and automobile industries begin_to move forward again. Until then business will just whistle to keep up its courage. (Copyright, 1930, by the North American Newspaper Alliance.) MILLER TRAIN CONTROL. STAUNTON, Va, May 15 (Special). ~—The Miller Train Control Corporation annofinces it has just received orders for Trafilators to be installed in Upper Darby, Pa, where these devices have already been in service for more than a year and have proven a great con- venience to thousands of motorists. ‘The Trafilator is a novel apparatus for automatically governing traffic signal lights by the mere presence of the vehicle, and has a remarkable record for accelerating traffic, it is said. An_official of the Miller company stated that Trafllators were now in use First Natl N' ¥, Harriman Natl . Manhat Co ... Trust Companies. Bankers ... Corn Exch County . Eaquitable Guaranty years ago Three years ago, weekly aver. ; High (1930) Low (1930 in many cities along the Atlantic sea- board and in the Mfddh ‘West., ‘ ) Dividend Rate. a RIGHTS, Cities Service Bl I, Lone Star Gas..July 3 3 Mo Kan Pipe end rates in dcusrs based on last quarteriy or semi- JEx.dividend tPartly extra. iPlus extra b Payabie in stock. d Payable in preferred stock capons, 35a40; ducks, 25a26; keats,| 80a90. FINANCIAL, Add 00. Open. High. Low. Close. Expire. 5 . % 1% 1 1 3 28 20% 20% 20 20 19 4% 4w 4% 4K June2s 81 1% 1% 1% 1u June' 1n stoek. s Payable CHICAGO STOCK MARKET. By the Associated Press. CHICAGO, May 15.—Following is the complete official list of transactions in stocks on the Chitago Exchange today: 500 Bast 00 Bendix 50 Binks MIg .. 3450 Borg-Warner 50 Brown Fence & B 250 Burnhi ‘Trad com 30 Butler, Bros «+..oo: 1 a 50 Cent & § West b 1 Bf 1017 700 Chi City & Con_Rys. g‘. 330 Cni Gity & Con Rys pf 13% 4700 Cnicago Corp 1450 300 Chicago Corp pfd . 100 Cnicago investors . P Hac cts ... 10 Curtls Lighting v Curus Mig . 50 Decker & Cohn - 2100 Electric Household . 300 Electric Research Lab 30 Emp Gas & Fu 1% bt 30 Empire Pub Ser: 900 Fits Simmons & Con. 1900 Foote Gear & Mach. 150 Gen Theater Eq . 100 Gien Wat Wks pf ner . 1581 100 Hart-Carter . 50 Hormel & 2400 Houdaille-Her: 300 Houaailie-Hersney B. 100 Lliinois Brick 100 Ina ‘Ler OIl . 5800 tniand Utilties | 3100 Inguih Ui lavest .. 250 1nsu Uil in pr T 1350 iron Fireman . 350 Co LTI o0 Liooy-MeNeiii Lincoin rtg pf. o0 Mercn & Murs A 21100 Migaie Wese Uil 100 Mia West Ul 65D A 104 A0 Mia WesL UL A War.. 4 o0 Mial Nat Gas A #0u miaiana Uniyed (U MiaL unit pr. S0 Miai Uit 4% 10 miaiana Uti o3 A i 102 &> Miaiand uul 78 1. 10¢ 150 miss Valley Uul pi 50 Maiss Vaiey unil ¢ o0 Mo-Kansas Fipe Line 00 Mo Fip u Exrts 15 400 Muncie 430 Muskegon Moto: 50 Nacnmann opringnil. 12 National Batiery..... 50 v A U N 1802 Secur Invest' et 93-4 -Standard . 30 Penn Gas & !lecn. 20u Leriect uires 350 Pines Winte: 100Q R & Music Co 1320 kauroad Snare: 100 Rel ~ Int 400 Relfance fl lichards Elmer 830 Sangamo Elec. 800 Seaboard _Utiliti 10080 Colo Pow A 10 E'u.r\"l!fld LDAl P‘ 800 Standard_Dredg B’. Radio Co. Sus.Satgts i ST 7 : > EIE2R-URURVENS, 69000 Insull 65 '40 . 108% 106 108 METAL MARKET. NEW YORK, May 15 (#).—Copper steady; electrolytic spot and future, 13. Iron quiet, unchangsd. Tin easy; spot | and nearby, 32.50; future, 32.62. Lead steady: spot New York, 5.60; East St. Louis. 5.50. Zinc steady: East St. Louis spot and future, 4.65. Antimony, 7.50. INVESTMENT TRUSTS NEW YORK. Mav 15 (#.—Over the counter market: Afliated Inv Inc. Bankers' Nat Inv Basic Indusiry Shares Federated Can Uni Fixed Trust Shares-A.. Fixed Trust Shares B. & Light Sec Trust. Stand Collat Trust Share Union, Financial A SRy =528 = T o S BOND AVERAGES soclat From Yesterday's wex- T A15 306 FIRMS REVEAL DROP IN INGOMES Great Variety of Industries Reports 18 Per Cent Slump in First Quarter. A decrease of 18.6 per cent in net in- come is shown from the first quarter of 1929 by the 306 corporations so far reporting for the three months ended March 31, according to the Standard Statistics Co. of New York. A tabula= tion of decreases by industries follows: First quarter. (Thopsands of doll; 1020, i 58 $I8E bt 838 = D ai e s isisi it and pa 12 Buildin 13 Chemic: 7 Goal 3 Copper’ 8 Electric ‘eauip ...l 20 Food_except meai roducts e 2023AALBIRGES g % o aBeariie o8B Ea 7Eeper o 23 Pefroletim SR K. equipme 1 Rayon .. 1 Bele " Fhibbiiias Dbuilding 21 8ef1 & 6 Theaters Tobacco . 238 Indlisiria Siostugnas: TR 25383 71,027 387,477 ENGINEERS OFFER AID TO AVIATION INDUSTRY By the Associated Press. The engineering profession of this country has placed its resources at the service of commercial aviation. The American engineering council, rep- ruentln{‘ 30 organizations, has just voted this step through a program de- ed to minimize loss of life, and prevent waste of large sums in con- struction and operation activities. In their plan for Nation-wide a tion aid, the engineers will co-operate with the Bureau of Aeronautics of the Commerce Department. One of the first. proposed projects is the formula- tion of fundamental principles of selec- tion, design and operation of airports and airways, and the placing of these at the disposal of technical interests engaged in air problems. Meanwhile a program of research will be laid out y the council, whose membership is about 60,000, for the development of safer and more efficient airports and operation methods. . The council points out that the- Bureau of Aeronautics has been au- thorized to extend all possible aid to American aviation, but that the di-. versity and complexity of the prob- lems calls for the heip of competent non-Governmental agencies. It is orf this foundation the group is undertak- ing its program. POTATO MARKET. CHICAGO, May 15 (A (U. 8. De- ipartment of Agriculture) —Potatoes— ceipts, 54 cars; on track, 278; total U. S.shipments, 864. Old stock—Trad- ing very slow, market firm; Wisconsin sacked round whites, 2.65a2.90; Idaho sacked Russets, few sales, 3.65a3.75; Michigan sacked round whites, fine quality, 3,10, New stock—Trading fair, market firm; Texas, Alabama and Lou- isiana sacked Bliss Triumphs, 3.65a3.80; k._:_l.“vc_! 349513.80.7 i 109, NET INCOME The Profit - Sharing Bonds {ssued by Credit Serviee. Inc, & ieading Industrial Banking institu- ield 6% bond interest plus 3 -1 THE7, ave paid in- s years. - MARKET 1S’ MAINTAINED Kynaston & Compan: Investment Blds. Money to Loan ON APPROVED District of Columbia and Maryland Real Estate 5%2% and 6% A pp{icun'ons. Invited HANNON- & LUCH 1435 K St National 2345 Guaranteeing Zre Trede Mark Sattsfaction STOCKETTALK NO. 12 This is our Story and we're going to Stick to it! Time is the essence of— Why waste your valuable time shopping for Office Equip- ment? We have at your of sales representati to be of real servic They know our stock, our faci our policy. A contin- uous course of study keeps them Em-d on the very latest in Office Efficiency Devices. Their specialty is the Proper Solution of Office Problems. They bring our store to you. 1l a force trained Use this service and save . 8 : STOCKETT- 1S CcO OSUCINO STATION E ST R W amsulnovou-o-c We Want Your Business!