Evening Star Newspaper, May 26, 1930, Page 14

*¥ FINANCIAL A—14 OIL TRADE LOSES THE -EVENING NEW YORK STOCK EXCHANGE Recelved by Private Wire Direct to The Star Office STAR, WASHINGIVUN, D. C, BONDS RREEULAR | === o BONDS o] |LANONT REPIRTS. INUPHARD TREND | CONSTRUCTION GAN MONDAY, MAY ' 26, 1930. FINANCIAL UNITED STATES. (Sales are tn $1,000.) Sales. Righ Low. Close 21 10012 1009 10012 Sales. High. Low. Close. Y6l 96 164 91 91 9 95% 954 354, (Continued From Page 13.) Phillips Pet 5% T Brockand sales— Dividend Rate. 444 50 High. 5 vi at . | Por Ric Am T Prev. 21% Spicer Mfg. 23 1 m Tob Prices Reduced as Produc- tion Totals Show Steady Increases. BY JOHN F. SINCLAIR. Special Dispatch to The Star. NEW YORK, May 26—What's hap- ned to the ofl industry? The re- ers are again at their old tricks of producing too much gasoline. And so are the primary producers. The Fed- eral Conservation Board suggested 2.- 572,000 barrels per day as a fair pro- duction for 1930. But now the runs have lncrel.sed] ,m 2,700,000 barrels. ‘With what resuit? One writer puts it this way: “The ofl producers of the country are selling their product at about $1,250,000 a day less than they should because they are producing 100,000 barrels daily in excess of economic requirements.” The future of the business rests with the producer himself. If he holds down production he can make better terms with the refiner and the refiner then can secure a better price for his prod- uct. Simple enough to state, but quite another job to accomplish. But when there is no control of the production itself—such as is tak- ing place at the present time—the re- finer makes his own price, with a resulting loss all down the line. Overproduction once again is caus. ing havoc. The Gart Creek Field in Texas is an example. It held its pro- duction for weeks to 10,000 barrels s day. Something happened. Now it’ giving to_the oil world, already flooded with oil, 23,000 barrels a day. A rise in crude prices for the mid- continent field was expected two weeks ago. But, confronted with such a coali- tion, why should crude prices be in- creased? John Moody, the investment analyst, has been cmx{parln the present stock market year with that of 1908. i Not much impressed with the “good news” stories issued from time to time by the business and political leaders, Mr. Moody says that they bear a close resemblance to “the employment drives,” and “sunshine clubs” and other izations of 1908. stock market rise in 1930 after the drop of last Fall was too rapid— 80 the natural reaction has been taking lace. place. After stating that American business will pmblbl;ngee some further weaken- in the price structure of commodities—steel for example—this New York observer has come to the Somy moc take piace wntl Jate Summer may not take place unt or iuwmn, But before long there will be many real opportunities in the stock market. Here's his tion: “Meanwhile, the dull Summer months, unless I am all wrong, will provide opportunities for bargain hunters to select good stocks with care without the stress of the fast moving markets to confuse them.” So start checking your favorite stocks over to see which ones to buy. You need not rush in, for there will be plenty of time to pick, if Mr. Moody's prediction proves to be true. Lee H. Miller, the chief engineer of the American Institute of Steel Con- struction, is out advocating steel floors for private homes. From earliest times wood has been used as a floor base. Not until 15 or 20 years ago did concrete and steel come into wide use for office building floors. The latest now is to construct homes with steel floors “free from hrinkay rug on top for ornamentation and there you have it—the very latest. “If a floor area of the average resi- dence is 1,500 square feet,” says Mr. Miller, “it would require a minimum of 7% tons of steel for each residence, or & total of 6,000,000 tons for the 800,000 homes built each year in the United e steel tnd try t sf lustry sees vas! bilities in this new development in res. dence building. If it catches on, it will “open the greatest market the steel in- @ustry has ever known.” Paul Whiteman, 39, popular jasz leader, who weighs 248 pounds and earns $500,000 a year, pays high wages €0 _the members of his orchestra. ‘To his former saxophonist, Ross Gor- Mnan, he paid $50,000 a year. Perhaps no orchestra in musical history has been paid more generously than his. ‘The son of a director of music in Denver public schools, Mr. Whiteman began his musical career playing a vio- lin in Santa Barbara, Calif. He moved around quite a bit, and finally landed a job with his little orchestra in the Ambassador Hotel at Atlantic City. His aim has been to get the best men for the different parts, pay them well and keep them. Most of them have been with the } king for years. He is known not only as a skillful interpreter of music (he does not read music at sight quickly), but as a master showman and a very shrewd business man. No depositor can leave in the Postal Bavings System more than $2500. A bill to increase this to $5,000 has met with surprisingly little opposition from the private banking groups. ‘The Postal Savings System, started in 1911, had $677,000 deposits on December 1. he next year deposits jumped to over $20,000,000, and seven years later they totaled $167.000,000, the highest point reached until this year. At the end of March, this year, the total deposits had moved up to $168,- 826,336, a new record. How are these deposits invested by the Government? At the close of 1929, $14,500,000 were invested in fourth Liberty 415 per cent bonds, $11.147,000 invested in postal savings 2l; per cent bonds, recently issued to depositors, but repurchased by the system, and $127,836,000 deposited 4n various bank institutions, distributed, #0 far as possible, in the communities in which the deposits originated, and &mmd by liability bonds given by e local private banks. The balance, a little more than $15,- 000,000, was re-deposited in the Treas- ury of the United States as a reserve. When local banking conditions are not healthy, Government savings de- | poeits immediately rise. (Copyright, 1830. by North American Ne: paper Alliance.) CHICAGO DAIRY MARKET. CHICAGO, May 26 (#).—Butter— 23,446 tubs; unsettled: creamery, extras, 33z i extra firsts, 30a 80%;: firsts, 28a29; seconds, 26a2715. Eges—39,106 crates: unsettle@: extra firsts, 2134a22; graded firsts, 20'2a21; ordinary current receipts, 18a18'5; stor- #ge packed firsts, 23; storage packed ex- | tras, 231, FOREIGN EXCHANGES. (Quotations furnished by W. B. Hibbs & Co.) . 34 l&l $ o, erown. Blolion " erown: TREASURY CERTIFICATES. Add 00. High. Low. Close Close. 16% 16% 16% 1 seees 1 Murray (b3%stk)... 142 Myer(FE) & Bro(3). Nash Motors () t Acme (1%). tl Alr Trans Natl Bella Hess. Biscuit, X Cash Reg.A(14) Na P Natl Distillers (2).. - 14 . 81 1 21 7 Nevada Copper (3) Newton Steel (3) N Y Central (3). N Y Invest (1.20).... NYNH & Hart (6). NYNH&Hpf (D). N Y Ont & Western.. N Y Steam pt (6).... Norf & Western ( North Am tion. . North Am(b10%stk) North Amer pt (3) North Am Ed pt (6 Northern Pacifie (5). North Paciflc ct (5). Northwstn Tel (3) Oliver Farm Equip. Oliv Fr Eqpf A (6).. Oliv Fr Eq ev pt(3).. Omnibus Corp. ... Orpheum Cir pf (8). Otis Elev. n(2%). ... Otis Steel (2%). Pacific Gas & Kl (2). Pacific Lighting (3). 6 5 1 0s 3 97 41 1 B 8 2 908 17 1 1 1 708 21 3 14 18 174 2 Panhandle P& R.... Param’'nt Publix (4). Parmelee Trans 13. Pathe Exchan . Pathe Exchange (A) Patino Miner Peerless Motor Car. 2 Pere Marquette (13). 2 Pere Marq bef.;l)-llo: Phillips Petrm (n3) & Plerce-Arrow (A). Plerce Oil.... Plerce Ofl pf. Pierce Petroleum. . Pillsbury Flour (3).. Pittsburgh Coal. 5 1 Purity Bakeries (4). Radio Corp. Radiopf A (3%)... Radlo Corp (B) (§) Radio-Keith-Orph Raybestos Man Reading Rwy (4) Real Silk (5. . Real Silk Hos pf(7). Rem Rand (1.60).... Rem-Rand 2d pf(8). 100s Reo Motor Car (802). 7 Republic Steel. 1 Republic Steel pf ($) Reynolds Metls 3. Reynolds Spring. Reynolds Tob B (3). Richfield Ofl (3). Rio Grande Ol (2! Ritter Dent Mfg (1 Rossia Insur (3.20) Royal Duteh (a3.! Safeway (e8! Safeway pf (6)..... 1208 Safeway Strs pf (7). 200s St Joseph Lead (13). St L-San Fran pt (§) 8t L Southwestern. ., 8t L Soutwn pt (5).. Sears Roebuck($2%) Second Natl Inv. Sec Natl Inv pt (5. Simmons Co (3) Simms Petrm (1.60). Sinclair Con Oil (3).. Solvay Am pf(6%) So Porto Rico Sug (3° Southern Cal Ed (3). Southern Pacifie (6, Southern Rwy (8)... Southern Rwy pf (5) Spang-Chalfant. Sparks Withngta 20% Spencer Kelg (1.60). 6 Spear&co. 7 20 2% 1% 18% 244 % Starrett Thom; Tobacco ‘Tobacco Tri-Catl Und-EIl- Utd Elect Vadasco Warr Weas oil Western 19% 1% 1% 1, Dividene Payments ba: s Unit of tr in stock. ¥ no_re Taty b £, st o g 5% in stock. Symington (A). % Telaut Corp (11.30). ‘enn Cop & Ch (1). Ly ir pf (7). ‘Thermold Co (2). Third Nat Inv (2) Thomp (J R) (3.60 Thompson Starrett. . Tide Water As (60c) . Tide Water As pf (6) Tide Water O1l pt(5) Timken Roller (3)... Tob Prod div ctfs C.. Transcontl Oil (30e). Transue & W (1), Tri-Contl Corp. Truax Traer ¢ .e Twin City Rap T (§ Twin City RT pf 17 Utd Fruit (4). Utd Gas & Imp(1.30) Utd Paperboard. .... Utd Piece Dye W (2) Utd Piece D pf (6%). Utll Pwr&Lt A (el).. Vanadium Btl (14).. Vick Chemical (23). Va Iron Coal & C pt.. 1 Vulcan Det (4) Wabash... . Waldort Systm(1%) Walworth Co (2). Ward Baking (B). Warner Brol ‘War Bros P pf (2.20) Warner-Quinian (1). Bros (3).... Warren Fdy & P (3). lé% Stand Branas (1% .. | Junior Rail Issues Off—Con- Stand Gas&El pf (7). Stand O of Cal (3%). Stand Oil Exp pf(6) .. Stand Oil of Kan (3). Stand Ol of N J(12). Stand Ofl N Y (1.60). Stand Plate Glass. .. Stand Plate Glass pf 220s .(u) (12%) 3 1 Studebaker Corp (4). Sun Ofl pf (6).. > o s.2 EUTTT1-ToISS - PN FOPERE- - TS SRR o) n Prod(2.40 wa » Products. .. Products A.. Porn Corp pf 49 ) 1008 Fischer (). 21 Union Carbide 12.60) 242 Union Ol of Cal (32) Union Pacific (10)... Union T'k Car (1.60). 4 United Corp pt (3).. tric Coal. Smelt Ret (; Steel 2 20 13 226 21 Sales Corp. 10 (4). 351 & Snow (3). West Penn El pf (§). West Penn El pf (7). West Penn Pw pf(6). 10s 108 Dairy A (4) 84 Western Union (8).+ Weatinghse 4 B (3). Westinghse E&M (5) W, i . Wilcox & Rich B (3). Willys-Overland. Worth Pump(B) (8) Yellow Truek. nith Radlo. . RIGHTS EXPIRE Am Roll M..June 16 Am Tel & Tel.Aug DuPont de! Phillips Py Sales of Stocks on New York Exchange 5 1 302 uly 15 319 .June 16 167 345,900 560 500 12:00 Noon 3:10 P.M + 1,118,600 1,883,600 in stock. d Payable when Plus 10% IE stock. s,llll lus 8% In stock. 'K Flis §% in ‘Washington Ticker BY CHAS. E. SHAEFFER, Assoctated Press Pinancial Writer. ‘The press of the Nation is responsible for the splendid success of the Federal Trade Commission’s campaign against fraudulent advertising, Commissioner W. E. Humphrey declared in a recent National Broadeasting Co. broadcast. In the last six months pllblhhel’!] have rejected more than $100,000,000 in questionable copy, Mr. Humphrey esti- mated from figures at his disposal. As a result, he said, the public has been | protected from being robbed of not less than $150,000,000. “The press in this matter has ren- dered a great public service,” he con- tinued. “I believe that within a vear the advertising columns of publications will be practically free of that class of advertisements that are plainly false upon their face. “But whether it takes a year or 10 years, .or however long it may take, the fight is going to continue untfl these fakers and crooks and scoundrels who live by robbing the unwary and unfortunate are put out of business. In this undertaking we have the .support of every honest publisher in America. We have the support of every honest advertising agency ‘in America. We believe that we have the support of every honest and decent American citizen.” Commissioner Humphrey urged mem- bers of the radio audience to report to the Federal Trade Commission any fraudulent advertisements which they may see. “Write to us and give use the facts,” he said, “we will do the rest.” About 75 per cent of this class of advertising refers to physical ailments and de- formities. These quacks can always find crooked but shrewd and able phy- sicians to testify as to the merits of their wares. In order to meet this tes- timony, the commission must have the evidence of high-class physicians, In behalf of the commission and the public Mr. Humphrey voiced a strong appeal to the physician individually, and the American Medical Soclety, and to the various other medical associa- tions h the country to aid in this matter of furnishing expert tes- timony. “The ffinds of the commis- (Re J. & W. Beligman & Co.: P i g "B * e June 16, 1930 00 sion are extremely limited,” he said. “In no other way can a doctor form vention and road show of the Ameri- can Road Builders' Association. Fac- tors in its selection were the tre- mendous road bullding programs of the Central and Southwestern States, and its central location and excellent con- vention facilities. Likening deficiency in highway im- provement as a debt, the association points out the Nation is now only meet- ng the carrying charges and is not reducing the obligation, which would indicate continued traffic congestion. Clarifying this assertion, they declare sutomobile registration in 1909 was 312,000 cars, while in 1920 it was 26,- 500,000, which shows an increase of 8400 per cent. During the same pe- road mileage has in- creased but 250 per cent. there was 1.64 cars to each mile of improved road, while in 1929 there were 40.01 cars to each mile. = A saving of approximately $450,000 to the public using the transatlantic ielephone service is seen as a result of the general rate reduction which went into effect May 11, the Commerce Department estimates, using last year's traffic as a oasis. ‘The new rates include all trans- atlantic telephone calls between North America and Europe. Under the re- vised schedule the charge for a three- minute conversation between New Ym’kolnd London is reduced from $45 to $3¢ The chief factor enabling the re- duction is the increased usage of serv- ice. For the calendar year 1929 trans- atlantic telephone conversation averaged about 50 calls per business day, or an increase of 60 per cent over 1928. The maintenance of a “security stock,” or emergency surplus, of wheat and flour is the subject of a recent Prench law which grants an appropri- ation of 30,000,0"0 francs to the min. ister of agriculture for this ‘The American trade consul at Paris reports the minister of agriculture, Jointly with the minister of war, shall determine th places where such stock shall be kept, as well as the conditions of the biddings or contracts entered into for its constitution or replenishment, th. controlling measures to be exercised and the remuneration to be accorded. ‘The latter shall include interest on the capital involved, calculated on the Bank of France's rate for loans and securities, and a premium not to exceed 4 per cent, great public service than to help drive these fra covering expenses and making allow- profit. ure for additional refund of duty on re- :;goomd ‘wheat and flour up to July 31, Advices received at the Commerce Department indicate the Austrian gov- ernment proposes shortly to increase the import duties on numerous agricul- tural and industrial articles, notably cotton yarns and fabrics, iron sheets, veneers, aluminum, starch, wheat and r. Establishment of the final rates is de- pendent upon the present treaty ne- .‘nu’mon.s with Hungary and Yugo- slavia. ‘The controversy between Northern |Firems and Southern coal producers and ship- pers over rate differentials on the ton- nage which moves to lower Grfeat Lakes ports for transshipment to the North- west is again in the limelight. Following the refusal of the Inter- state Commerce Commission to dismiss as requested by southern carriers the complaints of the Eastern Ohio and Western Pennsylvania fields, it was an- nounced the complaints would be heard here on June 16. The operators of the Northern dis- tricts are seeking a reduction in the resent 35-cent differential which has €n in effect since December 31, 1928, when the roads established it as a com- promise. Washington Produce Butter—One-pound prints, 30a40; tub, * 37%2a38 Eggs—Hennery, 22a23; ceipts, 20a21. Poultry, alive—Turkeys, hens, 22; 20a22; Spring brollers, large, 38a40; small, 32a33; Leghorns, 28a32; gl;wlsl, 23a24; Leghorn fO'llc, 22; adgx.cskvl. al18; s:en, 15; capons, large, 3 small, 30a33; keats, young, 60a65; smal 35: roosters, 14a15." Dressed—Turkeys, ns, 32; , 20a22; Spring chickens, large, 35a38; medium, 35a36; fowls, 27; small, 25; capons, large, 40a 30a33; keats, 70a75. Mea current re- 42; small, ts, fresh killed—Beef, 20a23; veal, 20822; lamb, 23a28; pork loins, 26a28 fresh ham, 24a25; fresh shoulders, 22 smoked hams, 27; smoked shoulders, 22; rd, in packages, 13; in 2. stock—Calves, 8all; Spring lamb, 11a12. [ 1% ext o1i% extra vertible Group Is Mod- erately Active. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, May 26.—There was some irregularity in all departments of the bond market today, but in general A;iv-noes ‘Were more numerous than de- clines. ‘The market had an air of suspension rnding the bringing out of the first 300,000,000 installment of German rep arations bonds under the Young plan. ‘The flood of new issues, both domestic and foreign, showed some evidence of drying up temp: ily in deference to the international arrangements for the reparations bonds and there was only $18,000,000 brought out here today. ince German investors are inclined to doubt that the reparations bonds will be priced to give much better than a 5.75 per cent yield, there was some buying of the higher-yleld German credits, but this was on a small scale. Meanwhile the new Japanese 5!5s con- tinued to sell at over a point premium in fair volume and most European is- sues were firm. Volume was small and except in the case of a few selected bonds there was little interest to the trading. St. Paul adjustments dropped over 2 points to another new low price for the year. This was in response to the earnings statement for the first four months of the year, showing only $100,000 to $200,~ 000 available for interest on the ad- Jjustment bonds, compared with $5,300,- 000 in the like 1929 period. Other Jjunior raflroad bonds to drop included St. Paul 5s, Rock Island 4l2s, Florida East Coast 5s, International Great Northern adjustments and Boston & Maine 5s, while Seaboard Air Line's 6s, Denver & Rio Grande Western 5s and Erie general lien 4s strengthened. Chile Copper 5s, reflecting efforts to stabilize copper output at existing prices, were fractionally higher in mod- erately heavy turnover. Oil company bonds were weak. Liberty bonds and Treasury issues were strong, with the definite announcement that new Gov- ernment financing is in sight. Prime rallroad and public utility bonds were uyl_?fi:',heuc-lly firm. American Telephone and Tele- graph Company announced that the conversion price of the 41,2 of 1939 would be $116.88, compared with $180 before the recent stock issue. There are -prmxlmluly $14,000,000 of the original $100,000,000 outstanding and unconverted. Thwrlce ranged frac- tionally higher ay. Other stock pr:vinle:e bonds were only moderately active, The day's new offerings consisted en- tirely of $18,000,000 Brooklyn Union Gas 5 per cent debentures, priczd at 10214 to yield 4.80 per cent. The issue was oversubscribed. Washington St SALES. Capital Traction Co—3 at 70, 10 at 0%, 10 at 697, 10 st 6975, 50 9%, 20 at 69%; 10 at 9%, 10 at /8 Potomac Electric 5% % pfd.—5 at 107, 2 at 107. Federal-American com.—10 at 31, 10 at 381, 10 at 31, 10 at 31, 10 at 81, 10 at 31. The Carpel Corp.—20 at 26%. AFTER CALL. Capital Traction Co.—2 at 69%. Washington Gas 55—$500 at 10315. W;:}la/tnmn Rwy. & Elec. pfd.—4 at Georgetown Gas 55—$500 at 102, BONDS. Bid and Asked Prices. PUBLIC UTILITY. C. P. Tel. of Georgets o bt . Rwy. & Fl_com. (7). Wash. n:? & Elec. pfd. (5) Balto. & Annap. com Balio. & Annap. pfd NATIONAL BANK. Capltal (14 olumbla (13 Lincoln (1 Metropolitan (14} . Riggs (15 .. Becond (9e) Washington (13) TRUST COMPANY. Amer. Sec. & Tr. Co. (15). Continental 'Trust (6) Merchants’ Bank (6) . Natl Bav. & Trust (13f) Prince Georges Bk. & Trusi Union Trust (88)......... Washington Loan & Trust y Sav & Beventh Btreet . United States (30) Washington Mechanics' '(20) FIRE INSURANCE. a2 2 <o i8) Columbla _ (8h). Real Estate (6h Title & Inv. Co. M MISCELLANEOUS Barber & Ross, Inc. con o . Datty Bfd. (1) Col, Band' & Gravel prd. aper : Dist, Natl: Sec. pla, Bromo. 2 Sulseessy ) De (8).. . 1 Btge com 'iif) 5. & Stor. pfd. (1) Mergenthaler Linotype (Tn).... 10: Natl, Muge. ¢ Tnv. ptd . rug 8. ptd. (813) Est M & Q. pfd. (&) 5535 G *Ex dividend. Books closed. n3sc extr wiWhen issued. RAILROAD INCOME NEW YORK, May 26 (#).—Net oper- ating income of St. Louis, Southwestern system for April showed an _increase over the same month in 1929. The total for the month was $206,508, compared with $209,618 in the like month last year. The total for the first four months of the year, however, showed a decrease, bflng‘ 3850474, In contrast to $912,- 168 1929. Charles Donnelly, president of the Northern Pacific iway, sald today hat the road’s net operating income for April will be about $1,070,000 below the $1,285,433 reported for April, 1929. George Peel, the direct descendant ot Lib 18t 4% Lib4th é4s. US3%s'4s.. USdés's.... UBS4¥%ss3.. 2 10118 10118 10118 34 1029 1028 1029 11 10110 1015 10110 51 1082 1081 1081 52 11210 1126 11210 FOREIGN. Salea. Argentine 6s Ju ‘89 13 Argentine, May "61. Argentine Argentine Argentine Bank of Chile 8% Batavian Pet 4143, Bolivia 7= ctfs '69. Bolivia 8; Brasfl ¢ Brazil 614527 Brazil &s, Canada Bs'31. Chile 65 °60. @ Con Pwr Japan Copenhagen 4%s Copenhagen 6s rcts Danish Munfe 8s B. Denmark 4 %, . Denmark 5%s '55. Denmark s. ...... Dutch East Ind 7. Dutch East T 6s '62. Pl Salvador 8x48. . Fiat 78 ex war '46. Finland 15 n E Finland = f 6s *45. Finland 7s. . » German Bank €s '3, German EI P 634, German 7a Hungary 14s. ., Irish Free State Ttaly 7s..... Mexico b8 asna. Milan 6348 Montevideo 7s Norwav 514 Norway 6s '4 Norway s 4. Norway 618 '52. . Orfent dev 53 8. Orlent Dev Paris-Lyons- Parfs-L; Rhine Wst EP 6s'52 Rio de Janeiro 6 . Rlo Gr du Sul 68’48 Rome 64s. ., . & R'y’l Duteh 4% sww Sa0 Paulo 50, .., Saxon (PW) 7s. Seine 7843 Serbs Cr 8 Serbs-Crot-Slo Solssons Tokio 533 61, . Utd Kingm 5% 37 Uruguay 60 Vienna Warsaw 7s Yokohama MISCELLANEOUS. :lblflbl P&P y Alleghany 6s *49 Allis Chalm 6837 Am Cotton O11 bs AmIGCh6ls'49. Am Int Cor 5148 49 Am Metal 6% ‘34, Am Smit & R 18t 6 Am Sugar Ref 6s. . Am T&T st bs.. Am T&T 5%, Am Water Wks bs. 4T, Armour&Co 4% s'39 Armour. Del.5%s. . Atl Guif 68’5 Atl Refining bs. Bell Tel, Pa. 53 (B, Bell Tel Pa 68 (C).. Bethlehm £t1 pm 61 Beth Steel rt 5i 4%, 978 105% 99 65748, ConGasN Y 6% Cuban Am Sugar 8 Det Edison 6s 10734 95 1004 Thea Eq . Gen Thea Eq 65 '44. Goodrich 6% 3 Goodyer ba ret: Hoe & Co 634 Humble O & R Humble O & R 1li Bell Tel & 1l Steel 4348 Intl Cement 6a 48. . Intl Match 5s 47 Intl Mer Intl Pape B Intl Tel & Tel 43s. eInt] T&T 4%sev.. Intl Tel&Tel 2 Kendall 54548 ww Liggett & Myers 78 Loew's. Ine. i Loew's 68 w o war. Lorillard 5 Lortllara (P) 7 Manat! Sugar 7%s. Midvale Steel 108 64 1014 82 o 98% 99 Nat Dairy § el 104%_104'¢ N Y Edison 58 44. . Pro Pub Serv G %8 '70 Punta Alegre Pure O11 638 '37 87w R6 874 98% 98% 98y 37 34W 344 100% 100% 100% 96 96 96 98K 98y %% 96 100% 100% 102 102% 103 103 100 100 96 96 103% 1037% 104% 104% 1034 1031 7% 9T 104% 105 101% 101% 96U 964 857 86 100% 100% 55 55 91 91 104% 105 106% 106 103% 103% 103 103 108% 108% 1 100 100 100 100 103 103 102 102% Richfield Oi1 Sine! on Stnclair Of1 Sinclair O1174. ... Stinclair Crude 548 Skelly Ol 6% South Bell Tel bs. . Southwest Bell §: Stand Ofl. NJ "8 Stand OIL N Y.4 4. Tex Corp cv bs “44. . Transcontl Oll 64 s United Drug 5s '53. U SRub 1strf 6s U S Rubber T%s. Vertientes Sug 7 4 51 Westn Unfon 63 White Sew Mach Willys-Ov 6%8'33. Wilson & Co 1st 6s. Win RepeatAr 7%s Youngstn 8 &T bs. . RAILROAD. Atchison adj 4s Atchison gen 4 904 90U 941 94k 134% 134% 93% 93% 91 91 97 97 93% 93% 100% 100% 103 1084 103% 108% 104 104 105 105% 109% 109t 93% 93y % 103% 103% % 86ls 86 99% 100 25 26 1% 1% 98 98% 934 934 95% 958 4% Can Nat 4%s Can Nat 43 26 Ci 94% 101% 102% 1024 102% 114% 114% 86% 87U 99% 994 101% 101% CB& Qgen 48'53.. CB&Q4%s"11B. % CB&Qistrtbs. 107% 107% 6% 6% M% 1% 103 108 86 86 92% 923, 95% 95% 87% 8% 59% 59% 101% 101% 109 109 100 100 . 82% 82 97U 9TH 95% 95% 97 9% 104% 104% 98%, 1 8ly 5 104% 104% 104% 71 100 100 98y 8 85% €8% 93% 5% 97 »Th% 91% E1) 87% rau 244 824 4% Y 94% 101 54 B4 105% 105% 110% 110% 9T 9TU 111% 111% 818 81% 99 99 100% 100% 106% 105% 684 68y 9 T « 5 103% Chi M&St P 2 86 Chi Mil&St P 4%8'C 16 95% Chi MII&StP 4%48E 5 95% ChiMIIStP&P b: 38 90% CMSP&Pac adj5s03 423 63 Chi & NW con 4¥s. 74 101% Chi & Nw 6% 1 109 Chi & NW 7, Chicago Rwys Clev Term 4 %8 Clev Term 6s. 3 Colo & Sou 43%4s.... Conn Ry&L 4%sst. 1 uba R R b . Cuba RR 7% Cuba Nor 5%s reta Del & Hud 1st rf 48 Den & Rio G en 4 Den&RGW 4% Den&RGW bs ‘55 DRG&Wst hn Duluth S S & Atl 5s Erfe 18t con 4s. Erie conv 4s (A) Erfe conv 48 (B) s @ eReNNSE anlnan gans Y Fla East C 58’74 Gr Trunk st deb Grand Trunk Grt Nor 4348 (E) Great Nor gen 7s Hud & Man adj Hud & Man ref 5 Il Cent 4% I1-C-C-StL&: Int Rapid Tran Int Rap Tr 6s stpd. Int Rapid Trans 7s. Int & Gt Nor 58 ‘56 Int & G Nor 1st 6 Int & Gt Nor ad} Int Rys C Am 6 Int Ry CAm 5 111% . 14 82% 22 99% 6 100% 1 106% 96% 968, T64% T6M4 101% 101% 91 9% 99% 100% 89 89 108 108% 89% 89% 964 96% 98% 98% 100% 100% Leh Valley 55 '20. . Long Isl rf 45’49 L& N uni ds. L&N4%s2003. Mill El Ry&L 6 M StP&SSM cn bs. . M StP&SSM 6s gtd. M StP&SSM 6 55 981 3 100% M K&T prin 6s(A) Mo Pacific gen 4s, Mo Pac §s F 117 Mo PacbsG'78.... Mo Pac 5%s '49 102% 103% T8Y, T8% 100% 1004 100 1001 109% 109% 101% 101% 9% 1% 9% 99% 107% 1074 106% 106% 9 19 6% 96% 107% 107% 107% 107% 102% 102% 86% 85% 80 80 934 93U 125% 126% 4 105% 106% 56 67 12% 7314 89 681 94 % 9% 118% 114 81% 81% 91 a1 951 9B% 9974 100 100% 100% 103% 103% 1091 109% 32 109% 1 101% 1 91% . 12 100% 13 107% 2 106% 179 5 96% 29 107% 2 107% 1 102% NH&R 438 NH&H ev db Z222Z227 22222222 Mg g o Ry 4%8. . NY Sus&Wn gen b8 NYW&B4Ks.... Norf&Sou yn 5¢'54. Norf & Wi} con Nor Pacifi¢ 48 Nor Pacific ref Penna 4348 1970 Penna gen 448 Penna 4%s '63. Penna 5 '64. Peoria & E inc Pere M 4148 1980 PCC&StL6s B'76. Port EIPL Reading gen ¢3 A. Reading J C4s b1.. StLIM&SSs StL IM&S R&G 4 StL & SF ol 100% 100% 9% 99y 92% 92 100% 100% Y8l 984 90% 90% 931 938 100% 100% 59 99 651 4 100% 2 U8y L1 v0% 26 93% 5 100% . 6514 Sou Pac clt 48 Sou Pac ref ¢s Sou Pac 4%a rets. . 8ou Pae 4% Scu Rwy gen Sou Rwy con b Sou Rwy 6s ‘B8 .. Sou Rwv Mo & O 48 Tex Ark ! Tex & Pa Third Av 1094 109% 117% 117% MY 9% 1061 106% 102% 1023 49 49% 'Secretary of Commerce De- | clares Increase of 30 Per Cent Has Occurred. By the Associated Press. The value of new contracts let for public works and utilities construction In the United States during the first four months of the present year was announced by Secretary of Commerce Lamont as $452,910,000. He said the total was 30 per cent in excess of similar contracts let during th. same period last year. The records was declared to be “a significant and highly gratifying advance, indicating ef- fective co-operation of all concerned” in President Hoover's effort to stimulate general business. The largest single item of the de- partment’s compilation was furnished by the ro-d-bulldlng program, the total ex- penditure on which for the first four months was indicated at $196,678,000, against $142,000,000 during the same period last year, In the endeavor to indicate what that sum meant in terms of employment, the statement said during recent years the number of men employed in the coun- try on road construction during the first g‘:;‘u?fieer has lvs‘r‘nge 200,000, which r was customarily increased to 400,000 during the second quarter. The 1930 contract totals are taken to mean that these totals of employment will be sharply increased. In other types of construction, aside from road work, the greatest gain has been made this year g contract totals for lighting and park development, Which are placed at 96 per cent more than last year. On water supply sys- tems the 1930 expenditure is running 668 per cent above last year, on bridges 42 per cent and on rallroad construc- tion 16 per cent. Contracts awarded for hospitals and institutions this year are 121 per cent in excess of last year, though the contracts for public butld- ings are 11 per cent less in value than beers segistered 1 expendiosear an ey n T T expenditures on new bulldings for raliroads and in sewage DI the ather hand, other , private residentist construction in the States dur- ing the first four months of the year, the department finds, is 49 cent less than the 1929 volume, while industrial construction is 24 per cent under 1920 lund commercial building 14 per cent less. Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md., May 26.—Po- tatoes, white, 100 pounds, 2.25a2.50; new, bushel, 1.00a1.25; sweet potatoes, bar- rel, 2.50a4.50; yams, barrel, 3.00a4.00; asparagus, dozen, 50a2.50; , 100, 5.00a6.00; beans, hamper, 1.00a2.00; cabbage, hamper, 1.00a1.25; celery, crate, 2.50a3.50; corn, bushel, 2.25a2.50; cucumbers, hamper, 150a2.75; kal bushel, 35a50; lettuce, hamper, 50a1.25; lima beans, bushel, 6.00a6.50; onions, 150 pounds, 90a1.00; greens, 100, 75a 1.25; peas, bushel, 50a1.5 peppers, crate, 2.50a4.00; radishes, 100, 1.00a2.50: spinach. bushel, 45a50; tomatoes, crate, 1.50a3.75; apples, bushel, 1.25a3.00; grapefruit, box, 2.50a6.00; oranges, box, 3.50a9.50; pineapples, crate, 3.50a4.00; strawberries, quart, 11a20. Dairy Market. Poultry, alive—Chickens, Springers, pound, 30a40; Leghorns, 25a33; old roosters, 14a17; old hens, 26a27; leg- horns, 15a20; Spring _ducks, 24a25; Guinea fowls, each, 50a75; pigeons, pair, 25a23. Eggs—receipts, 1216 cases; nearby firsts, 21; hennery whites, firsts, 22, Butter—Good to fancy creamery, pound, 3312a3513; ladles, 24a25; rolls, 24a25; process, 29a30; store packed, 20. Live Stock Market. Cattle—Receipts, 250 head; light supply, market steady. Steers—Choice to prime, none; good to choice, 11.00a11.50; medium to good, 10.85a11.00; fair to medium, 9.75a10.50; plain to fair, 8.75a9.75; common to plain, 7.7528.75. Bulls—Choice to prime, none; good to choice, none; medium to good, 8.00a 8.50; fair to medium, 7.25a8.f plain to fair, 6.50a7.25; common to plai 6.00a6.! Cows—Choice to prime, none; good um to good, 7.00a 8.00; fair to medium, 6.50a7.00; plain to fair, 5.00a6.00; common to plain, 4.00a5.00. Heifers—Choice to prime, none; good to choice, none; medium to , 9.008 10.00; fair to medium, 8.0029.00; plain to fair, 7.00a8.00; common to plain, 6.00a7.00. Fresh cows and springers, 50.008 110.00. lambs—Receipts, 3,000 Sheep and head; moderate supply, market higher; .;geve"'p. 2.0026.00; Spring lambs, 9.00a Hogs—Receipts, 2,000 head; light supply, market higher; lights, 10.90a 11.20; heavies, 10.00a11.00; medium, 10.90a11.20; roughs, 7.50a9.50; light pigs, 10.00a10.75; pigs, 10.50a11.05. Calves—Receipts, 800 head; moderate ;l;po%ly; market, steady; calves, 6.00a Hay and Grain Prices. Wheat—No. 2 red Winter, export, 1.05 No. 2 Winter, garlicky, spot, 1.08Y5; May, 1.08%; No* 3, garlicky, no_quotations. Corn—No. 2 domestic, yellow, new, | 9495; cob corn, new, 4.75a4.80. Oats—No. 2 white, domestic, spot 5312854, No. 3 white, domestic, spot. 5214853, Rye—Nearby, 75a80. Hay—Receipts, none. The general hay market continues quiet under light receipts, mostly by trucks, but ample for the demand, which 1is limited. While not enough hay is arriving on which to establish values by grades o carload lots, the better grades of timothy and clover mixed are in fair denuux;d at a range of 20.00 to 25.00 per_ton. Straw—No. 1 wheat, per ton, 9.00a 10.00; No. 1 oat, per ton, 9.00a10.00. SHORT-TERM SECURITIES. (Reported by J & W. Sellemag & Co) Allis-Chalmers Co. Ss 1937 American Tel. & Tel. §1 American Thread 813 19 Baltimore & Ohio 43 Batavian Pet. Co) Bell Tel. of Canadi nlitornia Pe anadian_Nor Chicaso ook o ‘opper CGudahy Preki Edison 2111, Biop. Gas. Lt & Phillips Petroieum ure Ol Corp, 8las I 8hell Unfon Oil Co. 7 Sinclair Crude O)l Co. 5ias i Standard OIl N. Jersey 55 1946. Standard Oil N. York 4125 198 Mt. & 8o. Ry. 5 15 8t. L' Southw Swilt & Co_ 5 Union Ol Co_Calif. 85’1935 United Drug Co. 8s 1855, .. Western Electric Co. 8¢ idd: Wheeling 8 8las i I8 iteel Corp. eelinz_Steel Co; Low. Close. 95% 958 2 9% 913 9l 8 90% ¥0W 0% 1 106% 105 105 1 100% 100% 100% 1 93% 93% 8% 7102 101% 101% 1.100% 160% 100% 15 105 105 106 2 88% wEy X8ly. | Sales. High. Union Pac st 4s... 13 954 Un Pac 18t re. Union Pac 48 °68. .. Virginia Ry 1st bs. Va Ry & Pwr 6, Wabash 4% 878 ret Wabash 18t § Wabash 5876 B, Wabash 638 75 Western Md ance for c law also doubles ,000,000 — ‘The w own practically half of the John Peel, the ous _hun! died St. Louis will entertain the 1931 con- franc fund rovided by a previous meas- Third Ave 1 in Korea. recently at Caldbeck, England. 2T 274 West Md 638 ‘17, . Tol Tr L&P 8% #'30 25 Pectas 27w 9 99% 994 99% mi!.?lnue 100 100 100 West Pacific - 12 9% 9Tw 9T