Evening Star Newspaper, May 21, 1930, Page 14

FINANCIAL. FINANCIA D. C. WEDNESDAY, MAY 21, 1930. NEW YORK STOCK EXCHANGE STAR, WASHINGTON HIGH-GRADE BONDS | Con v vox BONDS mocesscassca] | DEGLINE INSTEEL A—14 DEMAND FOR BANK | STOCK WIDESPREAD Large Distribution of New In- stitution’s Securities Is Now Assured. BY JOHN F. SI EBpecial Dispatch to The St NEW YORK, May 21.—No bank ever organized ever had such wide distribu- tion of its stock as the Bank for Inter- national Settlements, which opens this week The _central banks of Belgium, Eng- land, France, Italy, Germany, Holland, Sweden and Switzerland are taking blocks of the stock, and some are offer- ing the stock for sale to banks and private investors in their own nations. The Bank of Japan, like the Federal Reserve banks in the United States, is debarred from subscribing to the issue. But the Industrial Bank is taking Ja- pan’s quota, while a group composed of J. P. Morgan & Co., the First National Bank of New York and the Pirst Na- tlonal Bank of Chicago are doing the same in the United States. Nearly every leading banking institu- tion in America will have an opportunity 10 subscribe to & portion of the amount underwritten in the United States. so great was the demand bank stock in Parls that the price was quoted at 140 per cent premium. The Bank of England, therefore, de- cided against offering any of the stock in that country for the present. With the bank stock oversubscribed, the next big job ahead is selling the German $300,000,000 reparation issue. “Only one or twe points need to be settled, and then the loan will be offered, probably around June 1 said an im- portant American_banker yesterday in commenting on the forthcoming Ger- man bond issue, “What about a United States of Europe?” asks a Georgia reader. The world is getting smaller every day. ‘Trade between nations 200 years ago ‘was slow and insighificant. ‘When the machine age arrived with the discovery of steam, each nation found its factories and farms could produce much more than could be con- sumed by its own people. From that day to.this, international trade has assumed greater and greater importance. Every nation today must stand on its own feet, economically. Of course, for a time any nation can %\‘l on liv- ing on borrowed money, but building a civilization on borrowed money is like building on sand. No nation can go on living indefinitely unless the sum total of its exports— visible and invisible—are equal to the amount of its imports—that is, unless it sells to other nations as much in value as it buys from other nations. Most European nations today cannot meet this test of economic sovereignty. "l;:)lillx political sovereignty becomes a ell. LATR. Europe has 32 nations, each trying to live—each trying to sell as much at least outside of its borders as it buys. Boorii— Sarticutasiy in Burope— the cularly rope—is the minl of glflfl walls, which are put up higher and higher every year to keep on* the goods offered by other nations. rus.gn Minister Briand’s idea in a nutshell is this: Let us get together, drop tariff walls as fast as we can, eliminate the stupid obstructions to an expanding trade, and thus eventually become as strong in our part of the world as the 48 American States have | become by their free-trade policy, in their part of the world. We, in Farope, have four times as many people to trade with as the United States have. An excellent idea. Some day— 50 years or 500 years from now—it will work. But now, with both Eng- land and Germany suspis d Rus- sia completely out of the re, and Mussolini’s_arm-to-the-teeth policy in force, the Briand eoneepuan n Just an idealistic_dream. Still, dreams do come true sometimes! ‘This one will, I believe, even if this generation does not live to see it. ‘What about Cuban business and President Machado? The rumblings are growing louder, and the riot Sunday at a political rally of Machado's op- ponents, at Artemisa, Cuba, in which 4 persons were killed and 20 others injured, indicates that all is not going well in the sugar-cane country. * " Business depression has ruled Cuba for several years—ever since the sugar industry eollapsed. Until recently wholesale arrests have followed publication of any announce- ment Sugg g government waste. The party in opposition to President Machado, calléd the Union Nacionalists, ‘was not allowed to function as a politi- cal party. Its strong leader, Carlos Mendieta, has never been arrested, al- though his associates have often been rounded up wholesale in many parts of the island. During the sugar cutting and grind- ing season President Machado forbid any political demonstrations, due, he said “to the stress of immediate busi- ness * * * workers should not have their minds disturbed during the zafra” (sugar-cane season). ‘Then Menldieta and his supporters started a newspaper in opposition to the Machado administration and called for an open protest meeting of the peo- g Machado warned against it, but 5,000 dissatisfled Cubans listened hope- fully to the words of the opposition leaders. In their paper El Voz del Pueblo (The Voice of the People), they asked President Machado and his secretary of public works, Carlos Miguel de Cespedes, what had become of all of the $22,000, 000 used in building the new Cuban capital and of the $80,000,000 of bor- rowed money used in public highway construction. There was no answer. At the meeting on Sunday Col Mendieta, the opposition leader, was present and pressed his charges. A riot followed. Business is at a standstill and the situation is tense. far United States agents have been watching closely the growing un- rest, but have said nothing—for publication. (Copyright, 1930, by North American News- __ paver Alliance) NEW SE SECURITIES NEW YORK, May 21 (#).—New secu- Tities offered today include: National Power & Light Co., 150,000 $6 dividend cumulative preferred stock of no par value, priced at 1013, to yield 590 per cent, by First National Old Colony Corporation and syndicate. Glidden Co., $6,000,000 5-year 51, per cent notes, priced at 99%, by Banc- an:erlcl Blair Corporation and syndi- cate. Province of Santa Fe, Argentina, $4,- 000,000 6 per cent gold treasury notes, priced at 100 and accrued interest, to yield 6 per cent, by Chatham Phenix Corporation. City of Utica, N. Y., $632,000 improve- ment bonds, priced to yleld 3.50 to 4.05 per cent, by M. M. Freeman & Co., Inc. City of Poughkeepsie, N. Y., $175,000 414 per cent bonds, priced to yield 4.10 Recefved by Private Wire Direct to The Star Office. (Continued From Page 13.) v 190~ Divi HEV- 125: Missouri Pae pf (5).. 19 Mohawk C Mills(3). 1 49'/6 35% Montgom Ward (3).. 92 16% 3% Moon Motors 58% Morrell & Co (4.40). 1% Mother Lode (40¢c). .. 4'% Motor Meter G & El.. 50 Motor Products (2).. 26% Motor Whee) (3). 18 Murray (b3%stk). 38% Nash Motors % Ni 1 Stock and Dairy (32 20 Natl Dept Stores (2) 29 Natl Distillers (2). 138% Natl Lead pf(A) (7). 60- Natl Pwr & Lt (1)... 114 Natl Supply (5)... Nat] Tea Co (2)..... t\ ada Copper (3) Newton Steel (3).... 41% N Y Alrbrake (3.60).. 167 N Y Central (3) 108 N Y Chi & StL pf(6). 104 1 10 16% Norfolk & Southern. 226 Norf & Western (10) 83 « Norfolk & Wn pf (4). 30. 914 North Am Aviation 5 93% North Am(b10%stk) 78 Northern Pacific (5). 45 NoGerLloyd (3.43). 1 42 Northwstn Tel (3)... 208 % Norwalk Tire & Rub. 1 9% Ofl Well Supply.... 86 Oil Well Sup pf (1) st. 29% Otls Steel (%) 102 Outlet Co pt (7) 52' Paclfic Gas & £1 72 Pacific Lighting ll). 15% Packard Motor (1).. 50% Pan-Am Petm (B). 4'% Panhandle P& R. 48% Param'nt Publix (4). 215 Park Utah.. 124 Parmelee Tra 18% Patino Mine: 64 Peerless Motor Car.. 26% Penick & Ford (1). 63 Penney (J C) (3). 93% Penney(JC) pf A(6). 6% Penn Dixis Cement.. 724 Penna R R (4). 123 230 People’s Gas, Chi (3) 34% Phelps Dodge (3). 47 PhilaCo 5% pr(2%). 50% Phila Co 6% pf (3). 11% Phila Read C&1J. 70 Phillips-Jones pf( 29% Phillips Petrm (n2).. 21% Plerce-Arrow (A) Plerce Of 2! 31 Pilisbury Flour (2) 44% Pirelli of Jtaly(3.14). 86 Pittsburgh Coal pf. 98% Pitts Steel pf (7).... 20% Pittston Company. 25 Poor & Co (B) (2).. 97 Postal Tel & C pf(7) 45 Prairie Oil & Gas(2). 50% Prairie Pipe L (15) 7% Pressed Steel Car. ... 52 Pressed St1Cpf (7). 52% Proc& Gl:lnhl. 2).. Punta Aleg Su ¢ 21% Pure Ol (1%) 66 Purity Bakeries 34% Radio Corp. 68 Radio Corp (B) (5) 2 Radlo-Keith-Orph A]“s 83 AeadT B anmBome 28% Rels (Robt) & Co pf. 25% Rem Rand (1.60). 92 Rem-Rand 1st pf(7). 50% Republic Steel. 95 Republic Steel pf (8) 28% R yynolds Metls 3.40. 1. 4 Reynolds Sprh 71% Reynolds Tob A 49 Reynolds Tob B (3) 20% Richfield Ol (2). - 22 49% Royal Dutch (23.20). 88 Safeway (e5 - EXS 92 St Le-San Fran pf (§) 58 St L Southwestern.., 85 St L Soutwn pf (5) 243% Savage Arms (2) 4% Schulte Retail Strs 35 Schulte Retail pul) xoo- 8% Seaboard Alr 20% Seaboard Alr Lln. »t 79 Sears Roebuck($2%) 914 Second Natl Inv. 58% Sec Natl Inv pf (5) 1% Seneca Copper: 7% Servel, Ine. 35% Stmmons Co (3. 22% Simms Petrm ( 21% Sinclair Con Ofl ¢2).. nzu 109 Sinclair Oil pf (8). 118 95% Solvay Am pI(5%) 30% 20% So Porto Rico Sug (2 72 56% Southern Cal Ed (2). Sales— idend Rate. Add 00. High. 16 132% 0! 5 65 ~Prev. 1930.~ High. Low. Prev. [ 127 116 Low. Close Close. 131% St s Stay We 1% 10:30 AM. 1:30 P.M. Dividend rates as y, | Payments based on 1n"sioek. °f B no regular B Pl 2% in stock-. 64% Stock and Dividend Rate. Southern Pacific (6). 2 Southern Rwy (8)... 20 Southern Rwy pf (5) Spang-Chalfant. Spang-Chal pf (6). Sparks Withngta(1). Spear & co Spear & C d Branas (1% Stand O of Cal (23) Stand Oil of N J(12). Stand O11 N Y (160). x d Plate Glass. . Starrett (LS) (13%) Sterling See (A)..... Sterling Sec pf(1.20) Stewart-Warner (1). Stone & Webster (4). % Studebaker Corp (4). Symington (A).uesss Texas Corp (3)...... Tex Gulf Sulphur(4) Texas Pac Land Tr.. Thatcher Mfg (1.60). Thatcher pf (3.60). The Fair (2.40). Thermotd Co (2). Thompson Starrett. . Thomp-Star pf (334) Tide Water As (60c). Tide Water As pf (6) Timken Det Ax(80¢) . Timken Roller (3). Tobacco Products. Tobaceo Products A Transcontl Ofl (30a). Transue & W (1), Tri-Contl Corp. Tri-Cntl Corp pf (6). Truax Traer (1.60) 4 Twin City Ra Tr(4).. % Und-Ell-Fischer (5). Union Bag & Paper. . Union Carbide (2.60) 4 Unlon Oil of Cal (32) Union Pacific (10)... 4 Union Pacific pf (4).. Union T'k Car (1.60). Utd Afrcraft... 2 Utd Afrcraft pf (3) Utd Biscult (1.60). tven in the above table the late: rierly of aulf vearly declartions. vable in scrip. te. b Payale in stock. L plon 8% 1h stock "k Pius3% 1o stock 8BRS Prev. 1:45. Close. 122 122 118% 99 29 95% 25% % ktd 224 113% 66% 68% 103% 41 5% 35% 1% 45% 16% 13% 27% 95 361 6415 1043, T 21% a0 mign. Low. 122% 121% 1114 Utd Corporation. United Corp pf (3 Utd Electrie Coal Utd Fruit (4).... Utd Gas & Imp (1,20 Utd Gas & Imp pf(5). Utd Piece Dye W (2) Util Pwr&Lt A ( Vadasco Sales Corp. Vanadium 8tl "d).. Raalte. .. Vick Chemical (2% ). Va-Car Chem. Vulcan Det (4). Ward Baking pf (7).. Warner Bros Ple (4). 16% ;Warner-Quinlan (1). 484 'Warren Bros (3). Warren Fdy & P (2). Webster-Eisen pf (7) Wess oil & Snow (2). West Penn El pf (7). West Penn Pw pf(7). ern Dairy (B).. Western Union (8).. Westinghse A B (2). inghse E&M (5) on El Instr (1). Weston Elec (A) (2 Wheeling & L Erie. White Rek MS(43%). Wilcox & Rich B (2). ‘Wilcox Rich,B ctfs 2. Worth Pump... Worth Pump(A) (7). Yale & Towne (15)..) Yellow Truck. . Yellow Truck pf..... Youngs Spring (3). Zenith Radlo. RIGHTS EXPIRE Am Roll M..June 16 Phillips Pet..June 16 & Truax Tra C..May 29 Sales of Stocks on New York Exchange 801,700 3 + 906,000 . 1,536,000 are the annual cash 1 Partly extra. 3 Plus tock. & Paid 1ast vet ble" w1 on etrned ¢ NEW YORK, May 21.—The following is & summary of important corporation news prepared by Standard Statistics Co., Inc.,, New York, for the Associated Press: News Trend. Freight car loadings in the week end- ed May 10 were again the lowest of any corresponding week since 1924. To- Lll of 933,931 cars was 8,968 below the preceding week. In previous years al- mon invariably a small gain was re- corded in ‘week of May 10 over week previous. Compared Wwith a year ago, decline lmounud to 115,029 cars, whlle contrasted :ul:l:o the 1928 period, was rgl'sugdz oll pmflucflon statistics made aslightly Im,ur showing than anticipat. ed. Increase in output over the pre- vious week was 12,750 barrels daily. Oklahoma production increased 6,800 barrels and fleldl in the Rocky Moun- tain area increased 10,200 barrels dally. CAlllol’nll‘;l:‘twt was 2,700 barrels less rev 'h::?:r:or-um news included a number of interesting dividend announcements. Calumet & Arizona Mining reduced quarterly dividend, Mergenthaler omit- ted extra dividend and Southern Pipe Line declared special distribution from capital stock reduction account. Poor earnings statements were issued by Oa- nadian Cotton and Ceco Manufacturing. Acquisitions were reported by Conti- nental Ofl and Inland Utilities. ‘The Companies. per cent, by Phelps, Fenn & Co. Babylon (N. Y.) Union Free School District No. 4, $465,000 4% per cent bonds, priced to yleld 4.30 per cent, by Blwhelder & Co. NEW CONSTRUCTION. NEW YORK, May 21 (#).—New con- struction wnt-rlcted for ln '.hs 37 States east the Rocky M ¢m the vaek ended May 10 xuched total of $119,f nu,m. t.he P W. Dodge Corporation y, &8 com- with slsosnm for the first eight business days of May, and wif llfilul 000 in the like period of 19: fl‘lc'.! since the first of the yea gate $1,850,161,900, against $2.- 205.156 600 for the like pcflg in 1929. All-, Ammu General president denies have approved offer BUILDING AND LOAN CO-OPERATION URGED Associations Face Bafling Prob- |3 lems Because of Rapid Growth, Boston Official Says. Ernest A. Hale of Boston, presi- dent of the United States Building| Gamowe and Loan League, in an address last night before the Washington Building and Loan Association Council at a dinner meeting at the Ambassador, stressed the need of greater national co-operation on the part of building and loan associations because of the recent tremendous growth of the busi- ness, The growth of the business in the past 10 years has been lmflfln‘. he told the council, more rapid than in the preceding 90 years. He favors more regional conferences conducted by the most experienced leaders in buil and loan service. uman worth of the movement DIVIDENDS DECLARED NI EW YORK, May 21 (®)— l-nur. Pas- Hol'ts of Rate. rlod.‘ able. e B B B s ” o £ 555 Mallis HR & Mergenthaler N Cent'T o bt $118 @ July. ino. n 2 00000DOOOOOOOOODE O 8 B o was extolled by Representative Robert b Luce of Massachusetts and by Deputy Commissioner of Internal Revenue R. M. Estes. C. Clinton James, who rep- resents the local district on the na- tional league's board, gave a review o! the le&:}nme program and pre- sided a meeting. Amon( others present were Edward C. Baltz, pm\denz of the local council; Quinter, Edward L. Mc- W ‘s, t, J. L. Sherwood, Guy M. Neely. C. E. Kefauver, ahill, report, dt Aflll m.umu Corporation. made by i & o American Refining ducupriceo‘fwlopolnu to 5.50 cents & poun Calumet & Arizona Mining declares dividend of 50 cents on common stock; last payment, $1.50. Canadian m& “imp:da mlnnuuhpmmn- uhlrln( bld deficit of '97“5 ln fiscal March 31, profit of mnw in previous 1 period, equal to uumumm share. Continental OII buys Vi h-c-ro- lina Gas & Oil of Martinsville, Va, ‘Thomas Maurice Otterback, Thomas M. George A. Baker, Willilam P. Rich- ards, Fred A. Smith, J. Mitchell Owens, Roland M. Brown Joseph F. Zagowitz, John B. Geler and Francis L. Neubeck. den, . Warwick, Alfred B. Baker and J. Leo Kolb. —_— Edwin A. Potter, jr., vice president of l.he Guaranty Trust Co. and a director in Wilson & Co., Remington Arms and several other concerns, has been elected & director of the Starrett Corp. June 23 Ford Mot of Can A $1.: :g w June 23 8] s Y Jine 3 Do 6 vee 3 ll J\lfll 2 Inereased. Lobitos Oil Ltd ... 12%% . % *ota . Brit-Am Tob 10d .. June3d0 ...... Cl Neon El pr ... 3% saJuly 1 Equit !nvutrnc % N WY R Omitted. 38 & B R Metal Pro “Payable in scrip. o June June 15 SUEEEECE Firm to Expand. NEW YORK, May 21 ().—Acquisi- tion by the Libbey-Owens Glass Co. of the Edward Ford Plate Glass -Co., at & cost of nearly $20,000,000, to be paid in common stock, has been approved by stockholders. INBETTER DEMAND Rails and Utilities Higher. Convertibles Gain With Stocks. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, May 21.—High-grade bonds today displayed a somewhat firmer tone, but not enough change in prices to suggest & buying movement of any proportions. First mortgage rails and legal public utilities were fractionally higher. Short- term_securities were in great demand, and there is an unsatisfied inquiry for them which new offerings of corporation and municipal issues do not supply. The ease this week in time money rates and in bankers’ bills brings nearer the day when corporations must go into the market for a medium on which to make a satisfactory showing of earnings. Junior issues were also firmer. Chi- cago Great Western 4s, which have been steadily accumulated for several weeks between 6972 and 703, moved above 71. ‘Their range this year has been between 64 and 73. Denver & Rio Grande 5s improved fractionally under the better prospect for holders of these bonds. UNITED STATES. (Sales are 1n $1.000.) Sales. High. 11 Low. Close. 009 1009 100 7 10118 10116 10118 89 1027 31013 1013 1024 1025 1018 4 10730 10730 107 30 71121 11131 1121 FOREIGN. Argentine Argentine Argentine Argentine 63 Australia ¢3% Australia 68 55 Australia 63°'57.... Austria 7s Batavian Pet 41 Belgium 6s. Bordeaux Brazil 68 '26. Brazil 614827, Brazilfs.... Bremen State 7 c- ada 5831 The Erie issues were rather heavy on | cn account of the undigested supply. This was also true of other railroad bonds of this type. United States Rubber Ss, Dodge 6s, National Dairy Products 5%s, and Mercantile Marine 6s were ali strong members of the industrial list. The convertibles in the rail group re- sponded_slightly to the better market for raflroad stocks, which brouglhit higher prices in the Baltimore & Ohio 415, Atchison 41is and Chicago North- western 4%s. American Telephone & ‘Telegraph 41¢s, whose exchange privi- lege is expiring on Friday, had an early loss of 2 points and some later recov- ery. The feature of the foreign list was the strength in Japanese bonds. The new 5%s sold at a premium of 1Y points. This bond is being watched as a possible guide to the market for the new German 5%s. Other Japanese issues, especially the municipals and public utilities, made recoveries. The various French municipals were at a premium of 4 points over par. Germar descriptions were steady but quiet. Today’s new financing included 150 000 shares of National Power & Light 6 per cent preferred stock at 1011, or somewhat below the market for similar preferred issues; $6,000,000 Glidden Co. 5-year 51, per cent notes at 99% and $4,000,000. Province of Sante Fe 9-month 6 per cent notes at par. It is expected the Province of Ontario bonds today will bring.a good price. There is a considerable unsold amount of the recent City of Toronto issue. Washington Stock Exchange SALES. Wash. Gas 55—$1,000 at 103, ‘Wash, Gas 6s B—$200 at 103. Wash. Gas 6s A—$300 at 101%. Capital Traction Co.—10 at 72%. N. & W. Steamboats rts. wi—2 at 17%. Sol. Title Ins. Co.—50 at 9. Ter. Rel. & Whrs Corp.—10 at 48'%. The Carpel Corp.—50 at 2613, AFTER CALL. City & Suburban 5s—$1,000 at 81, $2,000 81 Pot. Elec. 5%% pfd.—5 at 106%. BONDS. Bid and Asked Prices. PUBLIC UTILITY. Amer. Tel. & Tel Amer_ Tel. Am. Tel. & ‘Te 3 ‘Anacostis & R Pot, Buar, 85 Ana of Gavtta: Traction K- City & Suburban ‘55 Oeorntown Gas st otomac Elec. cons. 5% . Fotomac Elec. 693953 Wash. Balto; & Annap. pid. NATIONAL BANK. 23 Capital (14) Fathiheton G3) G TRUST COMPANY. mer. & Trust Co. (15).. Cont)nennl Srast o) .12t Bank (6! Washington Loan ‘& Trust (14 SAVINGS BANK. Bank of Bethesda (61) Gommerce & Bavi s (10 BSVEnR Sheed® (3 United States (30). Washington Mechanics' FIRE INSURANCE. @ American reor: Columbia _ (6h) Real Estate (6h) Title & Inv. Co. A Barber %& Ross, In, Chey m ederal Storage pfd (8) Federal 1-Amer. (;unc‘om a Lanston Monotssie 8 Merch. Trans & S Mereh. Tra e ity Storage cte ‘l‘er Ref. & Wh. Wash. Med. Bids. Cor Wdwd. & Lothrop pfd. SEx dividend. B Books closed. kS el%% extr wlwmn “Jesued. FEARS HYDROPHOBIA, FARMER KILLS SELF ROBERTA, Ga., May 21 (#).—Two weeks ago J. W. Horne, jr., a farmer, was bitten by a dog. Since then he had remained in constant fear of death from hydrophobia, although there were no indications that the dog was afflicted with rabies. Yesterday he shot himself to death in his home. Germans Urge Hiking. HILCHENBACH, Westphalia (P)— What 280 German tatesmen and of quotations nuum for the benefit of qthmnm of girls nad boys who lnn\l.l.lly take their vacations on foot through this region. A mutual insurance company for for- Rhi; 9%ia 103 Denmark 4148 Denmark 638 ‘55 . Denmark German Bank 6s°'3.. German EI P 6%s.. 15 German 7 Ger Gen Elec i Greek 63 °63. Irish Free Stat: Italy 7s . 18 italian Pub Sve 7s.. 12 Japanese 4s. Japanese 63, Jugoslavia Bank 7s l Klrltldt 6543 Mex 451910 asst Milan 6 Mrw Hr Mr"y u-'u Norway 6%s '62. Orfent dev 53 58, Orient Dev 2" Rio Gr du Sul 6248 Rome 63 Ryl Dutch 4% sww 1 Sao Paulo 8s Tokio 6% *61. Utd Kingm 5% 0 Uruguay Uruguay Vienna 6s '62. Warsaw 7862, 104% 8% 93 108 107% 112% MISGELLANEOIII. Abitibl P&P 53 °63 Adams Exp 48 4! s 1 AmIGCh5%s'49.. 25 Am Int Cor 5849 20 Am NatGas 6%8°42 6 AmSmit& R Am Sugar Ref Am T&T eve %830 950 Am T&T 58 *65. . ms Am Wrtg Pa 65°47. Armour&Co 43%s'39 Armour. Del.5%a. . At1Gulf 55°69.. ... 111 6s. Bah Torm Bldg 6! Chlle Copper 6s. Com Invest 5%s Consumers Pwr 63, Cuban Am Sugar - - e BuCarem meRe makaes Dod, Dugquesne 4%s 67, East Cuba Sug T%s Gen Mot Ac Cor 6 Gen St Cast 545" Gen Thea Eq » DR Humble O & R 6%s. 1li Bell Tel 6 111 Steel Inland Intl PlD‘r . Intl Tel & Tel 4%-. Intl TET 4% Intl Tel&Tel Kan City P & Lt 2 Facaanm B3m Alwen @ Larillard 6% Lorillard (P) 7 Lou Gas&El b8 °62.. McC'rmek ER wu Midvale Stee! Montana Pwr '43... Montana Pwr db 6s. Dairy 6%s Nat Radiator 6% NY Edlm 6% NYG&EHP NY 'l'l.l N Y Tel N Y Tel 6: North Am Ed & No Am Ed 6%s Nor Ohlo Tr&L 6 Nor States Pwr 5 Pacifie Ga l L) BB eanm mene FUPROTIPE] IV oy est fires in Norway has 11,200 members. P 100% i 104% 1024 102 Direct to The Star Office Sales. High. Low. Close. 100% 100% 100% 10i% 105% 105% 46% 96 6% 95% 95 5% 80 79% 9% 914 98l Y8 984 98% 98% 37% 137 37 961 96 96 9s% 98 984 95% 95% 95% 100% 100% 100% 102 101% 102 103 103 103% 100% 99% 100% ST 197 U8 96 95% 96 97U 9TH 9TK 103% 1034 103% 104 103% 103% MU 9K 9TH 101101 101 106% 106% 106% 105 104% 104% 101% 101% 101% Phila Co 53’6 Phila & Read X Phillips Pet 6 %s... ) Postal Tel & C5%s Pub 8ve G 438 °67. Pub Serv G 4%5'70 Punta Alegre 7 Rem Arms 6s'37 Rem Rand & Richfield Of1 Stinclair O11 6 Sinclair on (%- Skelly O11 6% Solvay Amer bs South Bell Tel 6a. . Stand OfL NJ ‘4 Swund OIL N Y4 Tenn Cop 6s B Transcontl Ol § % . United Drug 58 '83. m U 8 Rub 1st Utah Pwr&Lt Utilities Pwr 5%s.. Vertientes Sug 7 Walworth 63°45. .. Walworth 6335, ‘Warn Bros P 6s "4 Western Elec bs Westn Union 5 n Union 6%s. White Eagle § Willys-Ov 6% 100% 100% 100% 9% 9% 9% 54% 54% Bdw 91K 9% 91K 1045 104% 104% 107% 106% 106% 103% 108w 103% 103% 103 103 108% 108% 108% 105 106 105 100 100 100 Wilson & Co 100% 100% 100% Youngstn 8 &T 6s.. 20 102% 101% 102% RAILROAD. 2 81% 81% 81% 1 90% 90% 90% 30 95 941 9% 102 134% 134 134 1 53 53 53 e PP JOORURe -2 Ann Arbor 4 . A T&SF ov 432005, 1 98% 93% 93% 1 90% 90% 90% 1 98 98 98 10 93% 93w 93% 11 100 100 100 53 102% 102% 102% 7 104% 1087 104% 5 108% 103% 103% 12 104% 104% 104% 4 109% 109% 109% 103% 103% 100 100 9l% 91% 98% 85 93% 96 95 95% 95% 95% 95% 1 102% 102% 102% 10 102% 102% 102% 2 99% 99% 99% 5 115% 115% 116% 1 110% 110% 110% Buff R & Pitts 4% Bush Term con 68. . Can Nnns 54 t4 1 104% 104 104% 1 102% 102% 102% 7 93% 9% 93% 2 108% 103% 103% 4 100% 100% 100% 9% 9% Central Pacific 4s. . Cent Pac 1st 58 90. 9% hdh 64 CAI&NWM!C'LI. 42 101% 101% 101% Chi& NW 4%8°87. 15 104% 104% 104% Chicago Rwys 1 83% »2% 83% ChiRI&Prf4s... 48 97% 97% 7% 9 95% 5% 95U Chi Un Sta 4% 1 99% 99% 99% Chi Un Station 2 104% 104% 104% 1 115% 115% 116% % 100 100 100 2 103% 103% 108% 11 1081 msn 108% ConnRy & Lt4%s. 1 984 9% 98% Colo & Sou ¢%s. 5 99% 93 Den & Rio G en ¢s. Den&RGW 438 '3 Den&RGW 58 55 Det United 4%s Duluth § S & At 70 % % 2101 101 12 65 54 B4 1106 105 105 6 110% 110% 11 2 97 9T W7 20 97 97 97 1 110% 110% 110% 15 111% 111% 111% 29 82% 82 82% 33 99% 99% 9% 1 100% 100% 100% 5109 109 109 6 105% 105% 105% 0 69 68% 69 18 69 e¥% 69 4 934 934 93% 2 ¥ 32% 83 9 9% 95 95 8 96% 961 96% 5 100% 100% 100% 1 9w 91% 91% 2 1 100 100 1 98% 98% 98% 1109 109 109 4 100% 100% 100% 2 95% 95% 95% 1 53 58 5331 2 92% 924 92% 5 101% 101% 101% 2 100% 100% 100% 3 9% 88% 90 2 99 99 9y 5 101% 101% 101% 88 85 88 2 4 108 102% 1 1056 5 105 101 Gr Trunk st deb Grand Trunk 7 Gt Nor 4148 '76(D). Gft Nor 4% (E)... Gt Northern 5% Great Nor gen 7 Hud & Man adj Hud & Man ref §i Lake Shore 4s'31. . LehV gen 4 Leh Valley §s°20.. 40 Mil El Ry&Lt 58'51. Mill El Ry&L bs’61. M StP&SSM con 4 100 [ 70 108% 108 108% 2 98% 99% 08% 2 9% 9T% 9T 14 101% 101 101 6 T 9% T9% 5 91U 91% 91% 2 9B% 9% 98% 4 100% 100% 100% 6 106% 106% 106% 6 106% 1063 106% 1 79% T9%. 9% 3 97% 97 97 50 6% 96% 6 107% 107 20 101% 101% 101% 24 102% 1024 102% 20 8% T8N 8% . 5 8T 81T 87 %s67.142 94 ¥3 9u% NY NH&Hevdb 6s 1 125% 125% 125% NYNH&Helt6s.. 1 105% 106% 106% NYOnt& Wistds ll gs% 6% a:-/. 1 0% 93 12 66 2 91 91 91 5 113% 113% 113% 5 81% 81% BIK 191 91 91 47 95% 95% 95% 1 100% 100% 100% 30 100% 100% 100% 5 108l 108% 108% 37 109 108% 109 3 9% 9% 9% C uo« 86% 86% o, lo lom. 104% 104% 2 29 2 l 100K 100!‘ IWK Ogden&Lake Ch 4 Ore Wash 1st 48 Pere Margq 1st Philippine RR 4i PortEIPL Port RL 6s'47 Reading gen d% A. RIATk&L 4% StLIM&S S ll !9‘- I.K ”% ¥ 98% 99 IEIMIMW,IM 9 90% 89% 90% 34 93% 93% 93% 27 102% 101% 102 4 86% 86% 86% Scu Rwy gen 4s. Sou Rwv eon 6. 3 Sou Rwy 6%s. 4 1244 1244 124% PRICES CONTINUES Weekly Review of Conditions Says Lull in Industry Is More Pronounced. By the Associated Press. NEW YORK, May 21.—The Iron Age market summary of conditions in the industry, published today, says that “with prices still giving ground and with selling increasingly aggressive, the lull in the iron and steel market has become more _pronounced. “‘Measured in terms of specifications received by producers,” it continues, demand is still ieceding, but how much of the decline is due to caution rather than to reduced consumption is not_yet apparent. ‘Business sentiment, rendered ex- tremely conservative both by price developments and the approach of the customarily dull Summer season, has also been chilled by the recent second- y reaction in the stock market. ‘Steel ingot production shows wide variations, with certain producers run- ning at as low as 50 per cent of ca. pacity, but the general average, in- fluenced by the superior performance of companies with diversified output, is 74 per cent, a decline of only 1 point from the 75 per cent rate of a week ago. The steel corporation average is un- chln[ed at 80 per cent of capacity, ditional price recessions have oc- l.'urnd in both primary and finished materials. The scrap market is uni- formly weak, and heavy melting steel has declined 50 cents a ton at Pitts- burgh, $1 a ton at Birmingham and 25 cents a ton at Cincinnatl. Pig fron prices are nominally unchanged, al- though subject to shading. The ge! eral trend of foundry operations is downward, the only conspicuous excep. tion beln' the melt of companies mak- ing castings for Ford and Chevrolet automobiles. 'Automobile body sheets and vitreous enameling stock have gone down $2 a ton, to 3.70 cents and 3.80 cents a pound, Pitubul"h respectively. Another gen- eral reduction of $2 a ton has occurred in plates and shapes, following conces- slons that were localized a week ago. The market on these ucts is now 1.80 cents a pound at icago and 1.70 cents at Pittsburgh. “The Iron Age composite price for finished steel, which has been declining for nearly 10 months, is now 2214 cents a pound. This fl[ure is $432 a ton above the low point of the post- war slump, which was reached in the last week in February, 1922, following an uninterrupted decline lasting 18 months. “The less severe character of the present business recession, coupled with the fact that price reaction has already gone far, has caused some ob- servers to persist that a turn is not far away. It is true that the iron and steel industry seems to be moving into the usual midyear dull period, but steel company earning$ are rapidly dimis and considerations of cost ce the trade’s are counted on to infl: attitude on prices. Washington Produce Butter—One-pound prints, 40a41; tub, 38%2a39. -Hennery, 23a24; current re- 15a18; geese, 1! small, 30a33; Kkeats, hens, 22; toms, 20a33; large, 35a38; ‘medium, 35a36; Mll. 2" small, 25; capons. large, 40a42; small, 30a33; lelh. 70!75. fresh killed—eBeef, smoked hams, 26; smoked bacon, 26, lll'd. in packages, 13; bulk, 12. Live stock—Calves, 8al0; Spring lambs, 11a12. Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., May 31.—Pota- toes, white, 100 pounds, 2.25a3.00; new, bushel, 1.25a2.50; sweet potatoes, bar- rel, 2.50a3.50; yams, barrel, 3.0024.00; dozen, a2. 1 !Blple 50; carrots, caulifiower, crate, 2. crate, 2.50a3.50; kale, b\uhel lettuce, bushel, 50a1.00; lima beans, hlmptr 5.0086.00. oan’.:!lsislflo l!lil: m l‘. ; _ peppel m Pe radishes, 1.00al.1 tmch bushel 35a60; squash, barrel, to! crate, 2.50a4.50; talou] Hay and Grain Prices. Wheat—No. 2_red Winter, export, 1.03%;No. 2 red Winter, licky, spot, IM%, May, 1.06%; No. 3, garlicky, no juotations. 3 Corn—No. 2 domestic, yellow. new, cob corn, new, 4.7584.80. Oats—No. 2 white, domestic, spot, 53a5312; No. 3 white, domestic, spot, Ipt ‘The general hay market wnfinuel qulet under light receipts, mostly by trucks, but ample for the demand, Which 1s limited. While not enough l;l‘{ is arriving on which to establish by grades or car- load lots, the better mds of timothy and clover mixed are in fair demand ltlnnnoliflmwflbwurwn Straw—No. 1 wheat, per 008 10.00; No. 1 oat, per tom, 'WIIOW Live Stock Market. Cattle—Receipts, 50 head; light sup- ply. market mmy to prime, none; good ehoiee 1100 to 11.50; mndlum m 10.50 to 11.00; fair to m .75 to 10.50; plain to fair, !wafl'lfi to plain, 7.75 to 8.75. plllln. 375 to 5.00. Heifers—Choice to , none; good to choice, none; medium to t0_medi Sales. Tex Ark F'S 548’60 10 ‘Texas & Pac 1st. . BT1 Tol Tr L&P 5% #'3/ Unfon Pae 1st 90% 100 95K 95 95w 0% 90K ¥OU 1 a1 9 108 105 105 102% 102 102 HUBNNG @ KW ~aN—e - West Pacific ‘West Shore 43 61.,, 20 89 88% lfli" "=