Evening Star Newspaper, May 19, 1930, Page 14

A—14 BRANCH BANK PLAN| MEETS UPPUSITION Fwnomlst Raises Ouestlon of State Rights in Criti- cism of Proposal. kR BY JOHN F. SINCLAIR. Special Dispatch to The Star. i NEW YORK, May 19.—Benjamin M. Anderson, Chase National Bank econ- omist, in coming out strongly mtnn the plan to dlow branch banking Federal statute, falls back on the old Dr. Ant eral banking act should not grant pow- ers beyond those given in the several States to their own State banks. ‘The position of this New York bank- er-economist is opposed to that of Con- troller of Cumm:y Pole, ‘;ll:,e htll asked permission to mem- omm to uhhll&h branches within the Federal Reserve district or trade uu:. ‘This difference in opinion is likely to result in a very serious fight between two powerful banking groups. Bays Dr. Anderson: *“I cannot sym- pathize with the view that it is neces- sary to pass ‘m"lnmund lm-!llfl't‘zl l(;:r the mrpou of giving supremacy e na- tlonal banking system. or that State ‘banks should be compelled to drop their State l:hnmrl to take out national charters.” ‘There is always a danger that the Btates, seeing these larger powers grant- ed to banks under Federal charter may get their backs to the wall and fllht faninet -nynch-nn of any kind in the benking ac As Congress 1s the final arbiter and a8 its representatives come from the the State banks may win such & fight. 8o a thorough discussion of the lem now before the American peo- le, whether the law should be amended allow national to open branches over a much wider area th-n is now is very necessary and It will not pay to ride rvu;h over the rights ot State Is it safer to go %o to war than @ to Is the vmksbup more dangerous than the trench? Giversity. ‘mpréssed. B3 {ho.iact. that 2 e people are hurt and killed day by ‘modern industries than are killed it our mlt indus- ction so inefficiently, injustices in our present work- pensation system and by treatment of the of Prised If B set down a barrage sgvinet 13 Loyl amugness! Alpnlmnt ofthelmflon.lflfllmd the Bank of i oo & e of of and a governor "'fi? Ecoromics. and land of world finance. many years he has insisted that the world is on its way to bankruptcy; that new and stern steps must be taken to avert general world catastrophe. It has n his contention right along that there should be a complete annihi- war debts; again and bufld back its weaith through | 5 work and world co-operation. ‘Yes, members of the American Acad- emy will be there in great numbers, for the reputation of this British ey are going prepared to hear - g Mr. Thomas W. Lamont of J. P. Mor- pn&co,vmpmm (Ouprristt, 1800, by Morth Amarican News- r Alllance.) GENERAL MOTORS !AI.EB. NEW YORK, May 19 (#).—General Motors dealers in' the United States de- lvered 142,004 ms to comumrs in plrd flch and 173,201 ln Am‘fl. !929 38195 w American dealers totalled 132,365 against 118, ou in March and l'll G!l in Total FrZNANCIAL. THE. EVENING STAR, WASHINGTON, D. C., NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office. .(Continued From Page 13.) Mdll.lin. my.u-um-; 48% ‘Monsanto Ch (g1%). 3 35% Montgom Ward (3).. 60 g Motors. - other Lode (40¢)... 4% Motor Ififl'fl.flfl- h Motors (8).... 1 h, Chat&StL l’). 20s 17 N Natl nevt stores (3) 188K NatLAd pLcA) (1). 108 L s cB) (0). 108 16% Norfolk & Southern. 226 Norf & Western (10) 9% North Am Aviation. . 93% North Am(b10%stk) 100% North Am Ed pf (6). 45 No Ger Lloyd (3.43). % Norwalk Tire & Rub. 9% Ofl Well Supply. 18% Oliver Farm Eq 70 OlUvFrEQpfA (8 31% Oliv¥r Egov pt(d). 2% Omnibus Corp. 63 Orpheum Cir pf (3). 2008 67% Otis Elev. n(2%). 29% Otis Steel (3%)..... 52% Pacific Gas & El (3). 72 Pacific Lighting (3). 16% Packard Motor (1).. 51% Pan-Am Petrolm, 18% Patino Mines. .. 264 Penick & Ford (1) 638 Penney (J C) (3). 6% Penn Dixie Cement. 72% PenmaRR (4)... 54 Peop Drug Stra(1). . JS4 e Maryoeor (5) - 308 17% Pet Milk (13)... 11% PhilaRead C&1. 8% Philip Morris (1). 29% Phillips Petrm (n2) xm Plerce-Arrow (A) oil 101 Pittbgh Term C pf.. m- Pittston Company Poor & Co (B) (3)... P Rican Am To A(7). 12 P Rican Am To (B).. 45 Prairie Oll & Gas(2). 50% Prairie Pipe L (15).. % Pressed Steel Car.... 52 Pressed Stl Cpf (7). e @).. 110% 107% Pub Serv B&G pf(6). 89% 76 Pullman Corp (4) 2 Punta Aleg Su e 21% Pure Oll (1%) 72 56% Southern Cal E4 (3). 127 116 Southern Pacific (). 136% 101% Southern Rwy (8)... 101 97% Southern Rwy pt (5) Baltimore Markets Spectal Dispatch to The Star. BALTIMORE, Md., May 19.—Potatoes, white, 1 poundl. 2.2523.00; new, beeu enu hamper, 1.0082.25; 2.0082.50; mfil radis! : 60; squash, bushe crate, 2.50a6.50; l, 1.25!1 75; tomatoes, apple Mllhel llll box, 5.0 Hay and Grain Prices. Wheat—No, 2 red Winter, export, 1.04%; No. 2 red wmm, muay, spot, 1.07%; May, 1.07%; No. 3, gar! » N0 quotations. Corn—No. 2 domestic, yellow, new, 93a94; cob corn, new, 4.75a4.80. Oats—No. 2 white, domestic, spot, 53' a54; No. 3 white, domestic, spot, year ago. Ag‘-l includln‘ cmmun 50,601 cars, compared 3% ), com| h and 327,118 In Aprik 192 el DIVIDENDS DECLARED NEW YORK, May 19 (fl—' Hidrs. of record le. 3 30 June 20 Pe- riod. WES Faper pt. #1008 sine gunbu Grapl i3 » < 8 May 33 May 14 8| @ > o £58 Eotpna 3 R =!8;.-u===uu8u . mm‘llnao : SEA be 21 g.ye/l)le‘n‘g“ 75885. —Recel none. hay :urm wnunuu qula undgr luht recel; by trucks, but smple for vhlch is limited. While clover mixed are in fi range of 20.00 to 25.00 per m Straw—No. 1 wheat, per ton 10.00; No. 1 oat, per ton, 9.00810.00. 6‘% 2% 42% 121\& lll% 120 i 1 98% 53% 57 4% XW 11 1% 1% 7 7 59 63 20 20% 21% 22% 43% « 42% n 24 16% 15W 86% 86% Bd% 54% 574 57w 20% 20% 141 65 5 121% 121% 112% 112% 98% 98% ,IM pal 13% Sparks Withagta(l). 21% Sploer Mfg......c00n 29% Splegel-May-8 tand Brands (13%) tand Comm Tob. 102% Stand G & B (3%) 64 StandG&EDpL(4). 55% Stand O of Cal (3%). 98 'Stand Ofl Exp pf(6).. 7% Stand Ofl of Kan (3). Stand Ol of N J(12). 31K Stand Ol N ¥ 1803, 1% Stand Plate Glass. .. 3% Stand Plate Glass pf. 10% Sterling Sec (A).... m% Stewart-Warner (1). Stone & Webster (4). Studebaker Corp (4). Symington (A). Telaut Corp (11.30).. ‘Tenn Cop &Ch (1).. ‘Texas Corp (3)eaaaa. ‘Tex Guif Sulphur(4) Texas & Pacific (5).. Texas PC&Oil..... ‘Texas Pac Land Tr.. ‘Thatcher Mfg (1.60). ‘Thermold Co (3).... ‘Thompson Starrett. . Thomp-Star pf (3%) Tide Water As (60¢). 78 Tide Water As pf (6) 14% Timken Det Ax(80c) 70% Timken Roller (3)... 2% Tobacco Products... 7% Tobacco Products A. 16% Transcontl Oil (30e). 89% Tri-Catl Corp pt (6). 16 Truax Traer (1.60).. 17% Twin City Ra Tr(4).. 97% Und-Ell-Fischer (5). 10 Union Bag & Paper: 3 76 Union Carbide (2. 41% Union Ol of Cal (fl) 215 Union Pacific (10)... 82% Union Pacific pf (4). 4 Utd Cigar Stores..... 26 Utd Cigar Strs pf. 30% Utd Corporation, 1o 11 5 S e = B-—-...--ue!u-un-.--. 235% e 1 caaqaaaqaqaa Rubber 18t pf. Smelt Ref (3%). Steel (). e0uveen 3 Steel pt (1) 8§ Tobacco (4) 2% Univ Pipe & Rad. .. 31% Ut PwraLta (ed)e iy 3=§5= = RNRERRRRNN®E 68 Vulcan Det A (4] 47 Wabash.... 88 Wabash pf (. 24% Waldorf Systm(1 26 Walworth Co (2) 21% Ward Baking (A (h Ward Baking (B Warner Bros It “V. ‘War Bros P pf (2.20) 16% Warner-Quinlan (1). 48% Warren Bros (3. 23% Warren Fay & P (: 22% Wess oll & Snow (3). 50% Wess O & 8n pt (4). 99 . West Penn E1 A (7 97% West Penn El pt ( 105% West Penn El pf (7) 13% Western Dairy (B).. 21% Western Md........ 28% Western Md 24 pf. 20% Western Pacifie. - 168% Western Union (8).. 40% Westinghse A B (3). 140 Westinghse E&M (5) 183 Westhse E&M pf (5) 29% Weston El Inétr (1). 31 White Motors (3)... 86% White Rek MS(14%) 7% White Sewing Mach.. 19% Wilcox & Rich B (3), 22 Wilcox Rich,Betfs 3. 67% Willys-Over pf (7). 3% Wilson & Co... 7% Wilson & Co ('A) . of. 3T LT T LT - 67% Worth Pum 78 Worth hmp(n) ). 67% Wrigley (Wm) (4).. 45 Yale & Towne (15). 4 oy S % Am Roll M..June 16 19% Am Tel & Tel.Aug 1 1% Phillips Pet..June 16 % Truax Tra C..May 29 llhdlhd:nlfl!'tlul;m 00 in lloch o " peyabie ® in" stoo 38% in stock." £ when earned. ri absence of new bids. In 4 | coupon Sna will be the U S 19| B barrel, | plain, 6.00 to Fresh 3 lo 11.20; heavies, 10.00 bl 50 Ala to choice none; medium to good, 7.00 to 8.00; fair to medium, 6.00 to 7.00; plain to fllr. 500 to 6.00; common to phln 375 to 5.00. Hell en-—flholu prime, none; good to choice, none; medium to good, 9.00 to 10.00; fair to medium, 8.00 to 9.00; plain to m: ’IM to 8.00; common to cows. lnd -vflnlm $50 to $110. Sheep and Lambs—Recelpts, 3,000 head; moderate supply; market lower. to 6.00. Spring lambs, 9.00 mnpu. 2,300 head; moderate ly; market hl' 3 ights, 10.90 to 11.00; me- di 10.90 to 11.20; roughs, 750 to 9.50; light pigs, 10.00 to 10.75; pigs, 10.75 to 11.00. Calves—Receipts, 700 head; moderate flggy; market steady. Calves, 6.00 to town‘ E’lg:om pair, mb! cases; near] firsts, 31; hennery white firsts, 22. Buiter—Good to fancy creamery, pound. 34a365; ladles, 25a28; rols, 25028; process, 30a31; store packed, 20. METAL MARKET. NEW YORK, May 1 . —Copper, steady; electrolytic, spot m?mum u‘ !ron, fet; No. 2, fo‘ Eastern Penn- IMI m-lo lI.DOl bama, weak; spot and ll'lflvy il 'IB. muu. 32,00. Lead, steady; spot New York, 5.60; East St. Louis, 5.50. Zinc, quiet; East St. Louis, spot and futum‘ 4.65. Antimony, 7.50. Quicksilver, 118.00. BANK CHECK RECORD, lv the Associated Press. el ununu thrift luulncl NEW SECUHITIES NEW Southern Natural $11,500,000 6 per cent con ben! at 97 nnd mmed in- Co., and mdlflte. per cent eonvertible dfibenulru. vfludll”.b’fl.lmn&m. and syndicate. City of Co!u.mhu, Ohio, $800,000 4% per cent bonds, yxeld from '3.75 to Q m r cent, by M. & Long Beach, B o XX sas0 wa priced {:Y m 4126 1o 465 per cent, MARYLAND TOBACCO PRICES !ALTmOBI May 10 (Special— th receipts and sales of Maryland lu!hohweo l.howghanuhnp uzcune- last weel former heads, vhiu nhl -mvununl '5"'25 :V‘):k in Bh'o whlwo nrehm“x:' only will arrive on the market later than unf-:ll.uuurepnned % last month consisted of 241 ) Wi Pflmd. which f 76,045 pounds at JI“ cents per pound in March. Quotations today !or Maryland leaf [ A General Foods Corporation. NEW YORK, May 10 (P)—A study cates that _one-fourth lo; A the m.b"m-umm 1929 crop | Ter. BONDS ARE LOWER INQUET MARKET| Lack of Leadership Apparent ¥ With High Grade Issues Selling Off. BY F. H. IICHAIDBDN. Special Dispatch to The NEW YORK, Ma; —Slwnl prices in various grades of bonds characterized trading at the opening of the week. The market was as lifeless as {ha in stocks and with no leadership,” the natural tendency was to react in the uite & num- ber of issues prices tered were near the lowest for the year. This was true in such bonds as St. Paul Adjustment 5s and Erie 5s in the injor rails and in United States Rub- MONDAY, MAY 19, 1930. FINANCIAL. (o v o BONDS o excuavea] | INDUSTRIAL CREDIT - UNITED STATES. Sales.. 71 100 10 3 10118 10115 10118 132 1024 1022 1022 12 1015 1012 1012 12 1015 1012 1012 5s among the second grade in-|pg,, dustrials. The points and 5% I.n?‘ from the high of the year. teed Products 5%s dedlnafl a point, 'hll:h brought them down about 15 points from mu highest and at a significant figure for a 515 per cent issue. There have been a number of ine dustrial bonds sho evidences of poor earnings recently, exclusive of the sugar group, whose weakness has be- come chronic. High-grade issues were inclined to droop. St. Louis-San PFrancisco Prior- lien 4s went below 90, or 3 points un- der their recent high. The same amount of decline has also occurred in the 4148 and in Rock Island 4!2s. Small frac- tions were chipped the prices of other high-grade issues. The heaviness of the stock market lected normally active bonds, like Baltimore & Ohio 4!4s, American Tel- ephone & Telegraph 4%,s, Philadelphia & Reading 6s, Atchison 4%:s and the stock warrant issues of the amusement companies. United States Government loans were inclined to be irregular. In the for- eign list the news Japanese 5%s main- tained their premium of 3, and the government 6s "‘{,"“’ of Tokio 5%s were fimfllmn'lflhlveliyxmt be issued at 90. These same terms that were car- ried by the recent Japanese loan, which went s0 well here and was at a pre- mium today in London of 3 per cent. From present indications, the German loan will id a considerably higher in the Paris market '.hln in New York. It is expected to issued in about two weeks. 3o | Washington Stock Exchange SALES. Potomac Electric Cons. 55—$4,000 at 101 ‘Wasl Gas 55 1960—$1,000 at 101%, $500 at 101%, $1,000 at 102, Washington Gas 6s A—$100 at 101Y. w:;!;zn(wn Rwy. & Elec. 45—-$3,000 at 15 | Capital Traction Co.—15 at 74%, 10 at Washington Gas Light—3 at 121. Wi d.—20 at National Bank- at American Security & Trust—10 at 411, 10 at 411, 10 lt 411, thaler Linotype—8 at 108%, 10 at 106%. The —50 at 26, 50 to 26, 50 AFTER CALL. Electric 5%2% ptd.—7 at 107, | Qus Potomac 10 at 107, Potomac Electric 6% pfd.—3 at 112, Traction 5s—$500 at 95%. BONDS. Bid and Asked Prices. 274 | Gapital .| Rome 6}s.. & Suburban gnr"wwn Gas 1st 55 Bhemva c:\“n xoul §nm ;AD! ll Trlc!llu 00 s" & Tabost, (1) 't 1is e s i g: 3EE8 Saxs tates ashington Mechanics” '(30) FIRE INSURANCE. American . (12 reoran (30; 8§ oEifienls SEelEE 283 i % ‘TITLE INSURANCE. Columbia (8h) al te g SRgt ] Ei{"’ Jh B g l. & Gra = *r 2283838528823 W F Ss.yet.g F F BALTIMORE & OHIO. BALTIMORE, May 19 (Special).— Volume of traffic on the Baltimore & Ohio during April continued to show last were off nearly 2|p, 110% 110% 78 78 95% 95% 108% 103% R4 84 84 84 89y 891 100% 100% 102 102% 100% 100% 104% 104% 91 1% 91 91% 101% 101% 274 2% T6% 764 99% 9% 1% 91% U 9T 100 100% 109% 109% 110% 110% 109 109 92U 924 100% 100% 106% 105% 101% 101% 102% 102% 9 9% 87% 8% 100 100% 107% 107% 117% 117% 122% 122% 90% 90% 108% 108% 104 104 86% 86% 85 9814 98% 96 - SHaSaasanuan b R Chile 78 "43. . Chinese Gov Ry s. Colombla gs.Jan * Con Pwr Japan 7s. . Copenhagen 4% s '5- Copenhagen Cuba & Czecho R 51, Crecho 88 '52 T qarS nnaS R~ naCunaanOs Dutch Bast In 47. DET5%s, Mch,'52. - cere - SB o embo 2R - 9T 9T% 103% 103% Jugoslavia Bank 83 83 Karstadt 6s 43 -32- % M 98 98 108% 103% Hi?!u 108% 102 Orfent dev 5% 88 Orfent Dev 6s°53. 6% 964 102% 102% 104% 104% Carpel Corp. at 26, 50 at 26, 50 at 26%, 50 at 26%. Do MUY 9% 100 100 106% 106% Rhinelbe Un 7s. Rhine Wst EP 65'53 Rhine West6s'53. . Rhine Wat EP 7a'50 Rio de Ja: Rio Ae Jan 8= Rio Gr du Sul 4s°48 Rio Gr Du Sul AemaBasn o R'y’l Dutch 4 %sww Sao Paulo 50 SanBaen loth lOfli m l e ® amaBe lDflK 100\4 90 90% 104% 104% 98 98 874 8TH 79% 80 96% 963 ‘MISCELLANEOUS. ADbitibl PAP6s’53.. 8 86% 86% 86% Alleghany Cp Bs 44 2 101% 101% 101% Alleghany 53 *4! 15 101 101 101 Allis Chalm 68°37.. 3 101% 101% 101% Am AgriChem T%s 8 108% 103% 103% Am Chain 6s'33. Am Cotton Ofl bs. P Am Metal 63%s'34. . Am NatGas 6% 42 2 90% % AmSmit&R1stSs 6 101% 101% 101% Am !nnr Ref :’l'- . 3 108% 103% 1084 « 11 107% 107% 107% 16 100% 100% 100% 2 82% 82% 824 28 89% ROW 8% 12 84% 84 B4u T 77T 6% 6% 2 106% 106% 106% 16 102% 102 102 Bush Term Bldg 8s. 1 101% 101% 101% Certn-TdE%srcts. 40 46% 45 45 Chile Copper 16 95% 95 95% Colon Ofl #s ‘38, 20 T T6% 764 6 101% 101% 101% At1 Gulf s '69. Be]l Tel Pa s (C! Bethlehm £t1 pm 5t 1 103% 103% 1084 4 99% 99% 99% 0 U T8 3 7 % 6 k3 10 100% 100% 100% 36 103% 103 108 1 100% 100% 100% . 93 99% 99% 11 108% 105!( 108% 32 94 93% 93% HumbleO&R6%s. 5102 102 102 1 Tel bs...... 1 105% 105% 105% fl:l:n.; lt:.l :“ *78. 4 94K MW MUK Intl Match &8 ‘::. . 87 % 99% 99% 22 2 92 . B8 122% 121 121 39 9T%. 9T 9% 1 104% 104% 104% 1 105% 106% 106% 1 90% 90% 90% 2101 101 101 1108 108 108 6 102% 102% 102% 5 83 82% 82% 2 103% 103% 103% 5121 121 121 5 127% 126 126 T 31 98K 9% 98 1 8% 87% 87% 5 108 108 108 4 102% 102% 102% thflyPhLll E6s'63... 6 1023 102% 1024 1 101% 101% 101% 88 9% 99 99 3 1064 106% 1084 9% | Chi Gr West 4859, C l!l\ ll“ }m 108% 108% Iol\‘ 108 108 102 102% 106 102% IOZK 106 105 101% 101% 102% 1024 EluSe maanann % = b8 11 Phila & Read 65°49. T Phillips Pet 34s.. 16 Pillsbury F M 6s°43 3 Por Ric Am Tob 6 Pollnl TOI &C 5%- 11 100% 100% 1. 6 96 Rem Rand 63 war 98 98y Richfield Oil 68 *44. 951y 95% Sinclair Oi1 6 100% 100% Sinelair O11 7, 103% 103% 99% 9% 97 97 96 96 9% 9T 104% 104% 103 1034 98 97% 98 Sug Es Orient 7s. 42 2 ‘Tenn Cop 6s B "44. . 101 101 Tenn El il 106% 106% 104% 105 102 102 United Drug 9% 96 U S Rub 1st rf 83 84% U 8 Rubber 7% 100% 100% Utah Pwr&Lt b 100% 100% Utilities Pwr 5% 2% 92% Vertientes Sug 7 54% 54% ‘Walworth 9 Walworth 6% l.é“ l:;“ ‘Warn Bros P 06% 106% 106% Westn Union 65°51. 103% 103% White Sew Mach. .. 74 74 Wickw-Spen v 7s. 28 28 100% 100% Youngstn S &T 6s.. 21 101% 101% HAII.ROAD. Atchison adj ¢ 2 0% 90% % 94 9% Atch deb 4348°43.. 19 1331% 133% Atl&Dan1st4s’43. 11 62 60 60 93% 934 93% 90% 90% 90% 8% 93% 100 100 102 102% 104% 104% 103% 103% 1om 104% % 109% 86% 87 9954 984 93 Bush Term con 5 96 Can Nat 4% 95% 95% % 95% 95% 102% 102% Chi & E Il gn &: I8 238 0% 1 96 26 91% 72 65% 64k 64% 97% 9T 1014 101% 803 80% 9T 9T Chi Un Sta bs Chi Un Sta 6% C & W Ind con OublNorl“lml. 10 M Del &Hud 1strfds. § 93 CM Gflfi 13 1us FlaEastCls‘N4... 56% 563 Gr Trunk st deb ¢s. Grand Trunk 7s.... Gt Nor ¢%8°76(D). Grt Nor 4%s (B).. 1 2 105% 6 110% l;g‘fi 110% 98 110 110% nou 811 82y 100% 100% 109 109 o Int Rapid Trans §s. 10 69 oo | Int Rap Tr smstpa. 35 8% 1. Int Rys CA 6}%sre. Kan City Sou 3s.... Long Isl rf 45°49. L &N uni ¢ L&N¢%s2008. ManRy 1st 48°90. . Mil El Ry&Lt 5s'51 M K&T prin 5s(A) Mo Pacificgen 4s.. 48 78% 100 Mo Pac 6%s "4 cv. 8 107% }07“ 107% Montreal Tr 5sB’S5. 10 fl!‘ .83( ’8 N O Tex & M 5s(A) NYT&MES: ‘a’&’?. 2 100% 100% 100% 21 107% 107 1074 2 9% 79% 79% .19 96 95% 96 1 107% 107% 107% 2 101% 101% 101% 15 102% 102% 102% »»a? Bunn 27 22222 ZZZ7, Z 00aao ] BE M O g i 1 80 80 80 5 94% 93% 93% 1 126% 125% 126% 10 105% 105% 106% 4 89% 89 89y 1 70% 70% 70% ll “ “% 66% 90% 5 lfllk 104% 104% 8 113% 113% lll’i E 2z Bk 108% 104 109 109 7 9 284 28 &BtLbs (A). ll IWK 109 109% P C CastL ll!"ll. 1 108% 108% 108% Port RL&PSs42. 1 101% 101% 101% Reading gen l“ A. 13 99% 2 9% 92% 92% 2 85 B4% 84% 1 100% 100% 100% 105% 1054 | A% 2 86% 864 5!(!7!1! DEMANDS DECLINE Loans for Purchase of Secu- rities Increase, Says Re- serve Report. By the Associated Press. Demand for credit from commercial sources has decreased in the last two months, while demand for credit from securities markets increased, the Federal Reserve Board said in monthly review of business conditions. ‘During the last two months in- creased activity in the securities mar- k“iu -t.ll:e.'e l’d‘:}l“me{ o; bond issues ul:d-; unf middle of April—a rising lev of stock prices has been accompanied by nn increase of more than $785,000,- brokers’ At New York ica. and inflow of currency from circu= lation. Compared with a year ago, the board continued, the volume of credit exténd- ed by member banks is larger by about “50000000. but the volume of redis- th Federal Reserve banks has 000,000. Easier conditions pmt:’ ing l.n the money market, it said, ted the gold U. 8. Eleotric Power Corporation. YORK, May 19 (. ~Consoli= tednmlm ullta“ cents Jetuary. ‘and. January, from other & Ed Asso At Chain & Gen ‘Eaui nminllhltl 6% % »f. CaE it Entlies :"3-»-{:5“ Oulanl‘:‘l Savesiors = MR T R P T AT ) E 2 o :388; - s Mblrn S1ds o Uni ‘73,‘::’ 'c‘:"’“" oore a-EQ! 8 ! United Oil Tf'l::' &:‘l{ bl Aol Sales. Hi a 3 ll.!.l'.olll'll 5 ”ll. fil‘:fi clfin;. 861 [t FIF2 StLSWistd 1 80y IIP.KCIILC’LD‘ 1 9% San An&ArnPés.. 2 Seaboard AL dssta 1 Seabd AL ldj 58'49. SBAl lA Sou Rwy Mo & O ¢ Term Asso ltb 8. Tex & Pac s C Third Ave 1st b». I!nlol Pae l“'“ Viflhll 'U 1t Va Ry Wlhlll M ll Wabash