Evening Star Newspaper, June 3, 1930, Page 15

FINANCIAL. #%% A_15 FARM RELIEF LOAN TOTAL §135,000,000 All Except $15,000,000 of Original Appropriation FINANCIAL. flTlUIIES FEATURE TRADNG ON CURB Oils and Miscellaneous Issues Also Faitly Active in Open. Bish. Low. Closs. Tu’:'fi.”m‘ “‘“ % Watson (J ")eo 1% . Wayne Pum o 0% en - 14 Wenden Copper. % bl bl b Westn Alr Exp(60e). —Prev 1830.—~ Stock and High. Low. Dividend Rate. #6% Lackawanna Sec(4). 6% Lakey Foundry...... Oven. High. Low. Closs. 2% Landay Brothers(3) 854 854 854 86U 21% = | e share Stock and Sales— ot Dividend Rate. Add 00. Open. High. Low. Closs. RIGHTS. Bxpire. Ches & Ohio 15 21% 22 21% 2% % Cities Service. 302 & & # W % Fireman's F I. .Juna 25 4 Hud Bay M&S, July15 LW lave Jeren? 3% InsCoof NA.....0ct 1 Winter (Benj). 4 Lone Star Gas..July 3 o~ % Mo Kan Pipe. High 854 Agfa Ansco pf. 83% 214 Alnsworth (32%). !l 26 2% 2% Alr Investors (war), 2 104% 103 Alabama Pwr pf(6) . o Dull Market. BY JOHN A. CRONE. Bpecial Dispatch to The Star. & NEW YORK, June Public utili- ties. oil stocks and a few miscellaneous industrials formed the bulk of trading on the Curb Exchange today. Although trading was at slightly brisker pace than on Monday, prices continued ir- regular. Electric Bond & Share was dull, re- flecting some disappointment over the 1929 report, which showed net income of $32,511,823, against $14,329,253 in 1928. The first figure included elec- tric investors incorporated. Standard Oils made the best showing in the oil list. Vacuum was up frac- tionally on good buying. Standard Ofl of Kentucky was up about 3 point. ©Ohio Oil, which is understood to have brought in an important weil in Okla- homa, was around the best levels of the preceding session. National Screen Service, which has been reporting increased earnings, rose to & new high for the year. Shnfllr feats were performed by Todd Ship- yards and Cuneo Press. Babcock & ‘Wilcox jumped 62 points. The gain reported in the first four months for industrial machinery at- tracted some investment buying into such issues. Some of the miscellaneous industrials like Garlock Packing im- proved. Deere & Co., however, eased again. Driver-Harris new was off more than a point. Northwest Engineering con- tinued its advance and National Steel, which has been steadily expanding, rose nearly two points. All American General Corporation, up about 2 points, was a feature in the trading corporation group. Later In- sull Utility second preferred, with a gain of 1%; points, attracted attention. Store stocks rested after their sprints in the previous session, but a few of them responded to earning reports. Lerner Stores was up almost 3 points. ‘Trunz Pork Stores also moved ahead on a few transactions. THE CURB ARKET. Sales in thousands. 2 Alabama Pow 55 | w DOMESTIC BONDS. High. Low. Close. 103 102 103 Bkivn Union 38,50 20 Centsy Elge 3ot 0 Cent Stat Eiec 5 6c & st Re 31 123 Citles Service 55 50, 1;:1 8734 9842 68 T OFE 2 szsss:é::::::a;ss W W iS?..m Trg: c'a,s“'u ulf Ol B2 % B e 153" 131 1344 10542 1054 mv/. 93 9213 9% 832 83'a 89 89 8 89 B S8 47100, 99% 100 11 Kopper G&C_ Sias, 50 102% 102 102% ES S A “2026 308 104% 304% 94 "94 s6% & 97 80 3 118% 118'% 9811 981 103% 103% 102% 102% lz 84'2 Rel Manage 55 A /54 13 Ko Se0 Pow 43, 53 T SO <<<dacadadn )i CrE] P An Bweringen 65 E & P 55 A ' ;fifi ves Penn 55 2030 Ves Tex Ut sh A T8 9% FOREIGN BONDS. 7 87 51 9545 B2 (P SO T PR o 23228883 dice Vatley 7sYs nE B Co s o i~ > o 5559239- ot 5 Hamburg Elec 2 Hanover City 2 Hanover Creq He s '35 102 7 971% 1 Barana Brazil 7s B P B 3 Santiago_Chile 7 1 Stinnes 75 '36 xw 4 Bydney Nsw 5.s Tietz x s ww—With warrants. Xw—_Without warrants, n—New. We—When issued. 2% 9% 1% 356 232 8% 13 28% 28% 50% 6 6% 109% 54% 330% 6% 19% 1 2% 4% 2 12% 1 162% 8% 22% 11 95 23 8% 4% o8 1031 130 % 109% 21% 39% 87 29% 166% 18 9% 102 . 16 All Am Gen Corp.... 24 21% 4 Allegheny Ga: 1 % % Allison Drug St (A 275 Aluminum Co of Ams 108 Aluminum Co, Ltd. 4% Am British & Cont. 7% Am Br B fd shars. 74 Am Capital (B) 874 Am Cit PAL(A)(a3) 14 AmCP&L(B)(10%) 234 Am Com P(A) b10%. 3414 Am Cwith P(B)10% 2% Am Co'with Pwr war # Am Control O1l Flds, 24% Am Cynam B'(1.60). 3 Am Dept Stores..... 46 Am For Pwr(war).. 105% Am Gas&Elec pf( 113% Am Gas & Eleo (31) 4% Am Invest (war) 10 Am Invest. Ine 67% Am Lt&Trac (n). §2 Am Machine & Fdry. 1% Am Maricabe 1 LY 2 303 2 190 2 11 147 - - 28% Am Superpwr (1) 94% Ain Super 1stpf 45). 17 Am Transfor (1.40). 10% Am U&Gen B vte 400 2% Am Yvette (n) wd,.. 9% Anchor PF (b10%). 15% Anglo Chil Nitrate.. 10% Appalachian Ga ¥% Arkansas Nat Gas..» 8% Ark Nat Gas (A). 41% Asso Gas & Elec ¥6% Ass0 G&E (A) 12.40. 3% Asso Rayon. . 394 Asso Rayon pf (6). 2474 Asso Tel Uil (b7%3. 16 At Coast Fish(1.40) 16 Atlantic Secur Corp.. 12% Atlas Util Corp... 6% Auto Music A(t1. 05) 24% Aviation Corp of Am 1214 Aviation Credit..... T Aviation Securities.. 122 Babcox & Wil (19).. 2% Bania Corp. 46 -BancomitCorp 70 Baumann(L) pf (D 6% Blue Ridge COrP..ee 33% Blue Ridge cv pf(al) 63 Boback (HC) 2%..e 35% Brasil Trac & Lt (3)® 2% Bridgept Mach (25¢) 243 Buft N&EP pf(1.60). 2% Burma Corp (13ke).. 3% Bwana M Kubwa.... 8 Cable Radlo T v.t.e.. 1 Cabie&Wire (B) rcts 83 Canada Marconl...., % Carib Syndicate 264 Carnation Co (31%). % Celanese Corp...... 314 Cent Atlantic Stat 30 Cent Hud G&E n(80¢e 33% Cent P S (A) (a1.75) 19 Cent States Elec 3400 72 Cent Sta El pf(6)xw. 4% Centrifug Pipe60c). 2% Chain Stores Dev. 12 Chain Stores Stock. . 224 Charis Corp (13).... 19% Chat Ph Aln-v(50¢). » & ~ERranaatmatuarr o - @ BT T e - - - P I -1 - T Tt =X (TSR YST ST 111 Col Oil & Gas v.t.e 42 Colum Pic v.t.c. $1%. 284 Com'with Edison(8) 3% Com'wlith & Sou war. 8L b% 124 Comm Wat Servb6% 3 16 % Comstock Tunnel 16 Consol Afrcraft. % Consol Auto Merch. . 5 Consol Copper. 90% Con Gas. Balto 21% Con Gas Util A 2.20,. 3 Consol Instrument. 10 Consol Laundrie T% Con Retail Str b Copeland Prod.Inc A 10 Cord Corp.... 12% Corroon & Reynolds. 45 Cosden Oil! % Creole Petroleum. .. 18% Crocker Wheeler. % Crown Cent Petrol.. & Cuban Cane pr opt w 84 Cueno Press (23)... 1% Curtiss Wright war. 1 CusiMex Mining..e. T4% Darby Petrolm (1).. % Dec R, Ltd(Am shs), 113 Dnrn& Co (11.20)..; Forest Radlo. . zi Delul-w.m Gl 1%« 4% Derby Oil Refining.. 5 Detroit Alrcraft.... 10% Dixie Gas&Utilities. 12% Douglas Alr (75¢c) 38% Dresser (SR) B (3).. 41 Driver Harris(new). 99 Driver Harris pt (7). 108 5% Dubilier Cond & Rad 8 145 Duke Power (35)... wn- 16% Duquesne Gas (new). 3% Durant Motors . 12 Duval Tex Sul wl.e 26% Eastn G&F Asso.... 18% Eastn Sta Pwr B(1). 14 Ea Utll Assocv.. Th Ea: Ul Inv (A).. 13% Eisler Eelectric(1%) 80% EI Bond & Sh (b6).. 103% Kl Bond & Sh pf (6).. 15 Electrographic (2).. 24% Blec Pwr Asso (1).. 22% Elec Pwr Asso A (1) 284 Eler Pwr & L op war 99% El P&L 2d pf(A)(7). 15% Elec Shareholdg($1) 19% Emp Pub Sv A(1.80) 6 Empire Steel Corp. . 16 Europ El, Ltd A(80c) 5 Euro Eiecdeb rt 17 Ex-Cel AIr&T (1. 2 Fabrics Fininshing.. % Falcon Lead. . 3% Fandango Corp. . 32 Federal Screw (3)... 18 Flintkote (A) (1%) 13% Fokker Afrcraft. ... 16 Foote Br Gr M (1.20) 28 Ford Mot, Can A 11% 36 Ford Mot.Can, B t1% 6% Ford Mot,France 28c. 10% Ford Mor.Ltd 37 b, 214 Fox Theater C) (A). 76 Franklin Mg ot (7). 21 Galena Ofl Corp 20 Garlock Pkg (1.20) 6% Gen Alloys (80c). - Pt an 11 1 b 7 8 z 3 4 1 3 3 2 1 0 2z 4 5 2 = aERTHRARHS OO S e o Sw a - PRI Gilbert (AC) pf (3%) Glen Alden Coal 3... Golden Center. ..... # Goldfield Consol. ... 304 Goldman Sachs(b6). 2% Gold Seal Elec new.. 7 Grand Rap Var (1) 31% Graymur Corp. .. 11% Groc Stores Prod vte 27% Guenther Law (2)... 131 Guif Ollof Pa(1%) 8 150 11% Hecia Mining (1) 4 12 19 Hdyden Chem (2) 2z 18 41 Horn & Hard (23%4) 1 43 19% Houston Ofiof Texn 76 23% 8% Hudson Bay M 6 % 78 Humble Ofl (2)...... 5 104 374 Hydro Elec Sec (2).. 4 46% 10 Hygrade Food Prod. 3 12% 22% Imp O1l, Can, n(50e). 24% 85 Ind Terr fllu Ol (A) 2 3b6% 35 Ind Terr Illu Ol (B) 36 17 Ind ¥in ctfs(b10%). 24 b4 lnlull Ut Inv(b6%). 3 64% 82 11 Ut In 24 pf(6) 250- 93% 69% I Co, No Am (¥ 9% % Intercontinent Pet n 1% 17% Intl Petroleum (1) 08 49 Intl Salt (new).. 3214 Intl Supi 34% Intl Utilitle 6% Internati Ut 79% Intl Utilities pf(7).. 12 Irving Afr Ch(1.50). 6 Irving Air Chute war :9(. Italian Superpwr A.. ‘: 97 Koppers G&C pI(6).. 50s 102 28 5% % 303 190 6 147 5% 12% 76 53% 3% 17% 10 4% 4% 8% 10% 2% 82 49% 3% 26% 2% 20' “fl lll lS 51 1% 854 1% 36 30% 41 100 Pt 39% Lt 27% 150 12 18 43 24 102 108 262 . .. dfi 1 lfl&h 10!!‘ msu 103% 21% 28 6% 5% 302 302 192 190 11% 11% 40 21% 26% 4% 2% o) 25% 4 9 68 63w 62% 63 1 108% 1084 108% 108% 146% 145% 5% B% 12 124 74 4% 534 3% 1% 10 34 34 334 33% 101% 101% 100% 101 17 17 11 17 12% 8 8 4% ddu 15 15 17 a8 508 l'b!( 130% 130% 130% 4% 8% T8% (3 Py ll% ll!) 211 5 5% 15% 16% kel % kel % 204 20% 20% 20% % % 0w % 5% 397, 13% 27l 149% 1«9’.‘ 12 214 12% 5% Lily Tulip Cup 1% Lion Oil Refin (2). Loew’s. Inc (war)... Lone Star Gas. n (1). Long Isl Light(60c). Louisiana Lan & Ex. MacMarr Stores (1)« % Magdalena Synd. ... Mapes C Mfg (13%) Marine Mid (1.20) Marion Steam Sho’ Mavis Bottling. Mayflower Asso (32) May Hos cum pf (4). Mead Johnson(13%) Memphis Nat Ga: Mesab Iron. .. Met & Min, Ine(1.20) Met 5c to 50c S (B).. Mid Sts Pet v.t.c. A.. Midland Ut(b13% %). Mid W Sts Ut (13%).. Mid Wst Util(b8%) . Mid Wst Util B war. Mid Roylty ev pf(2). Miller & Sons (2)..w Min Corp of C (26¢) .. Mo Kan P L (b10%). MissKPLV.t.c.....: Miss Riv Fuel bd rta, Moody’s 1 § pt pf (3) Morison Elec(31). Mount Prod(1.60 Municipal Servic Natl Amer Co. Natl Bond & S (35¢)+ Natl Da Prpf A (7).. Natl Fam Strs(1.60). Natl Fam S pt (2)... Natl Fuel Gas u r Y PG SR TS > 1< [T ST CRC PR CTRPRIVE - Ot G PRI < > PP TRT O YOOI wo Natl Pwr & Lt pt (1) 508 Nati Pub Sv A(1.60). 1 Natl Screen Sve(2).. 1L Natl Sh Tr Sec A 50e, Steel x-war(2).. New Eng Fuel (new) Newmont Min ($4).. Newport Co (2). ] N J Zine (12%). New Quincy M (100). N Y Rio&Bu Afres. .. N Y Transit,n(+1.70) Niag Hud Pwr(new). Niag Hud Pwr.A war % Niag Hud Pwr B war Niag Shars Md(40c). Niles-Bement-P 123 Noma Elec (1.60).. .. Noranda Mines (3).. No Am Aviat A war.. North Am Cement. .. Nor Am L&P pf (6). Noth Euro Oil Corp, , Nor Sta Pwr A(8).., North St Pwr pf(6). Northam W ev pf(3) N W Engineer (2)... Novadel Angene (2).. % Ohto Copper. .. Oh{ Brass pf (6). Ohio O1l (4)... Ohio Ol pf new (6).. Qutboard Motor (B). Pac G&El 1st pf 1%, Pac Pub Sve (1.30).. Pac Western Ofl. Pandem O1l.. Param't Cab(b8% ). . Parke Davis(11.45) .. Pennroad Corp. Pepperell Mfg (8)... Petrol Corp war., Phillp Morris, Inc... Philippe(L) B 11.80.. Pie Bak of Am A (2). Pitney B P, n (200) . Plymouth O1l (2).... Polymet Mfg (31). Poterero Sugar. .. Premier Gold (24¢).. Prince & Whitely 1.. Prince & Whit pf(3) Prudential Invest. .. Pub Util Hold w w.. Puget Sound prior pf Pure Oil pf (6)...... Pyrene Mfg (80¢)... QRS DevVry.. Radlo Products 1. Railroad Sh Cp(25¢). Rainbow Lu Prod B.. Reliance Intl (A) Reliance Manag. % Repetti Candy Reynolds Invest. . Rike Kumbiler(2.20). Roan Antelope Min. . Rock] Lt&P(92¢) Roosevelt Field.Inc.. Ryan Consolidated. . & St Anthony Gold.... St Regis Paper (1)., Schulte Un 6c-31 St.. Seaboard Utilities. .. Seaman Bros (3). ... Seg Lock & H (50c).. Selected Industries., Sel Ind allot ofs 6% .- Select Ind pr(5%)... Sentry Safety Cont.. Shattuck Den Min... Sheaffer Pen (13).... Shenandoah Corp. Shenan Coro vt (a3). South Coast. So Cal Ed pf Sou Natural G Southland Roy (1).. S W Dairy Produects. 7% S W Gas Utilites. .. S W Bell Tel pf (7). Spanish & Gen Reg. . Std Cap&S new (2.40) % Standard Motors.... Stand O11, Ind (3%). Stand Oil, K'Y (11.80) Stand Oil. Ohlo(23%). Stand Pub Serv (A). Stand Screw (8) Starrett Corp. .. Starrett Corp of (3). Stein Cosmetics. ... Struthers Wells T Sun Inv pf (3) 4 Sunray Oll (40c) Superieater (13% Swift Internatl(2% ‘Tampa Electrio (32) Technicolor. Ine. ... Tennessee Prod..... Texon Oil&Land 25¢. Thatcher Sec Corp. Tran Con Afr Tran Trans Lux DL P 8. Tri-Cont Corp (war) Tri Utilities($1.20).. Truus Pork § (1. 60) .01 ‘Tubsize Ch: B) Twin State: Ulen & Co. Ungerleider F Corp.. Union Tobacco Unit Car Fastn United Corp (war).. Utd Founders(b2.35) United Gas Co (new) United Gas Corp ctfs Utd Lt & Pwr A(1 Utd Lt & Pwr pf(6) ., Unit Rt Chpf (3%).. U 8 Elec Pwr (war). U 8 Finishing (32).. U S Finishing p£(7) .. USFoll (B) 1)...0r 60% U S&Intl Sec 1st (l). U S Lines pf (1) US & Overseas war. 8214 U S Playing Cards 16 11 Utd Verda Ext (4).. 9 Universal Pictur 14% Utility Pwr&Lt(al). 161 Utility & Ind. .. 22 UtI&Indpf (1%).. 85% Vacuum O1) (14%).. 6 VanCamp Packing.. 7% Van Camp Pkg pf.... 214 Venezuela Petrolm. o Vick Financial Corp. 16 Vogt MIgCo (2).evvm 41% Walgreen Co. 8% Walker (H) (1), 2% Walker Min (7%6) e 38% 51% 117T% % I5\6 671 16% % % Newport Co. CHICAGO STOCK MARKET |U. S. CORPORATIONS CONTINUE TO READJUST DIVIDEND RATES By the Associated Press. CHICAGO, June 3.—Following is the complete official list of transactions in stocks on the Chicago Stock Exchange today: Sales in hundreds. Acme Steel SN S8R s ©: ST R Ty s FE S ndix AV 3150 suu-wu—nor fi io B‘ 2 . 3 urn ‘rnu ol 200 £ 116 Cent *ml Bub " Ser ‘bt ¢ Il securities. 258N Ve Uil Ut 6s B A m:v. t A war m &80 Northw zn,momm 100 lon Ryerson % Son ngamo Elec. . 1300 SeRErTES 1100 Seaboard Utiiit} 280 Sheflicid Steel 30 Stangard Dredsins . ard D: 600 U § Gypsum nit Print & S Lines.. Markets at a Glance NEW YORK, June 3 (#).—Stocks heavy; Continental Baking issues at new 1930 low. Bonds steady in quiet trad- ing. Curb easy; leading issues sag; dull market. Foreign exchanges easy; Shanghai loses nearly 4 points. Cotton lower; favorable weather and crop news. Sugar steady; better spot situation. Coffee lower; easier Brazilian markets. CHICAGO, III, June 3 (F)—Wheat firm; unfavorable Canadian weather. Corn steady; insect damage in Iowa. Cattle steu‘ly Hogs steady to higher. GRAIN MARKET CHICAGO, June 3 (#).—Wheat ad- vanced today toward the last, owing largely to reported renewal of high winds causing crop damage on the Canadian prairie lands. Winnipeg elevator _in- terests figured the condition of Sas- katchewan wheat as 89, against 94 a week ago, and there were advices of dust storms also in North Dakota and North- west Minnesota. The world’s available ucing to within 3,402,000 bushels of gregate at this time hn year. Wheat closed firm, }2al cent a bushel higher than yesterday's finish. 1,a% cent advanced. 3, cent up, and provisions om 35 cents decline to a rise of 30 cents. BY CHARLES F. SPEARE, Special Dispatch to The Star. ‘2660 or $78,000,000 more than the amount’ necessary to maintain the {;til being distributed to owners of eir s It i: quite possible that a less favor- able showing may develop when the figures for the June quarter are avail- able, as these will reflect conditions more severe in some industries in_the current quarter than in the first three mom.hl of the year. However, the num- f companies that lncreued thelr deznda in May, or m-de itial pay- ments, was larger than of those that reduced or passed their dividends. The fl:unt quarter will include the m.wn en on practically all of the imj ucing companies, w] oee cies have had to be ad- sharp decline in the tant copper- dividend Justed to etal. tion made of indus- juarter represent mleul. electrical equip- ment, food cts, iron and steel, pe- troleum, printing and publishing, res- taurant and machinery. The smallest are those of the automobile, building materials, coal mining, paper products, non-ferrous mining and to- bacco companies. The general average is expressed in the margin of 28 per cent over current dividends carried for- ward to surplus account in the three- month period under review. (Copyright. 1930 Washington Produce Butter—One-pound prints, 37,a38; tub, 36a37. 22423; current re- Poultry, alive—Spring brollers, large, 38a40; small, 32a33; Leghorns, 28a30; fowls, 23a24; Leghorn fowls, 24a25; ducks, 15a18; geese, 15; capons, lnrze, 35a37; small, 30a33. Dressed—Spring chickens, large, 45a48; small, 40a42; 1 > 27 capons, large, 40a42; smal 30a33. Meats, fresh killed—Beef, 20a23; veal, 20a22; lambs, 25a28; pork "loins, 28a33; lre;h ‘hams, 25a27; fresh shoulders, 23; smoked hams, 27; smoked shoulders, g‘zflkblcon. 27; 1ard, in packages, 13; in Live stock—Calves, 8all; Spring lamb, 10all. Fruits — Apples, box stock, 3.25; oranges, California, 8.00a8.50; lemons, 7.5028.00; raspberries, pints, 35; straw- berries, 3.50a4.50; cherries, 5.00; black- berries, 5.5026.00; watermelons, 65a1.25. cantaloupes, jumbos, 3.00a4.00; pony: 3.00; flats, 1.75a2.00; peaches, 3.00; pineapples, 3. 50.« 00. Vegetables—Potatoes, new. 5.0025.50; old, lbo-pounfl sacks, 4 peas, 2.35a 2.50; lima beans, Wl{fi beal l 5022.00; lplnleh. omegrown squash, 1.25a1. 50 mlnm 2.50a3.50; tomatoes, 2.00a3.00; corn, 3.00a3.25; carrots, sacks, 5.00; bunched, 75 per dozen; cucumbers, 1.50a2.50; peppers, fancy, 5.0085.50; turnips, 2.00 per bushel; eggplant, 4.00a5.00. CRUDE OIL PRODUCTION SHOWS GAIN IN WEEK By the Associated Press. TULSA, Okla., June 3.—An increase of 22,622 barreis in the daily average productlon of crude oil in the United during the week ended May 31 wurt?onld today by the Oil and Gas Journal. The total was 2,598,731 bar- rels, compared with 2,576,069 barrels for the previous week. All fields in Oklahoma except St. Louis-Pearson registered gains, while California production lost 14,000 bar- rels. The Oklahoma increase in light oil was 21,010 barrels. ‘West Texas declined 2,000 barrels. The entire midcontinent area increased 21,409 barrels in light oil and 7,625 in heavy. ‘The Gulf Coast and Southwest Texas heavy oll areas continued upward. East- ern fields dropped slightly and the Rocky Mountain area gained. PARIS BOURSE PRICES. PARIS, June 3 (#).—A heavy tone prevailed on the Bourse today. ‘Three per cent rentes, 81 Innu 12 centimes. Five per cent foreign loan, 101 francs 55 centimes. Exchange on London, 123 francs 89 ans, | centimes. The dounr was not quoted. CHICAEO DAIBY MARKET. CHICAGO, June 3 ().—Butter, 24,- 019 tubs. Firmer; creamery extras, 32 ; standards, 32%;; extra firsts, 30%¢; 28a29; seconds, 26a27%:. Eggs. Steady; 20,556 cases; prices unchanged. STOCK AND BOND AVERAGES By the Associated Press, Prom Yesterday's 5:30 Edition. 50 Industrials. 189.0 (Gopyright. 1930, Atandard Statistics Co.) Used by Board. By the Associated Press. Loans totaling approximately $135- 000,000 have been the Federal Farm Board’s contribution to agricultural re- lief during its short existence. ‘The act creating the board authorized an appropriation of $500,000,000, with an_original appropriation of $150,000,- 000 as a revolving fund. This sum was augmented by an additional appro- pr!anon of $100,000,000 in the last de- ficiency u%mpmuon bill, Cotton leads the list of beneficiaries of the act, with commitments of ap- ximately $50,500,000. Next in order wheat and other snlm with pledges of lpprcximluly u 500,000; lrun md canned 250,000: 1live stock, $8,600, wool lfidflBOM: dairy in- dustry, $7,000,000, with the remainder advanced to miscellaneous mup-, such as berte:sd honey, potatoes, rice, tobacco The bulk of these advances has bee in the form of mwlemenul commndlty loans—that is, loans greater in propor- tion to the market price of the com- modity than is practicable under other credit facilities, such as intermediate credit banks. Ppmxlmamy $25,000,000 of the original advances have been repald, leaving about $110,000,000 still out- standing. While there is a time limit provided by law on credit extension, this phase is usally vested in the board's discretion. In many cases the loan simply covers the maketing of the com- modity, repayment to the board being made upon completion of the sale. In- urut charges have ranged from 2% to Per cent, the rate prevailing being equn to the lowest rate of yield to the neartst one-eighth of 1 per cent of any Government tion of issue since April 6, 1917, It hu been learned that the board expects to grant commitments of ap- proximately $150,000,000 during the next six months. Cotton and wheat will re- quire about $100,000,000 as their sea- sonal demands, with all other commodi- ties being benefited to the extent of about $50,000,000. ‘The board is forbidden by Congress to deal directly with individual pro- ducers, but must negotiate with farm- ers and ranchers through producer- owned and controlled organizations. ILLINOIS AUTO SALES INCREASED DURING MAY By the Assoclated Press. CHICAGO, June 3.—Automobile sales in Illinois are slowly climbing back toward the 1929 level, figures released today by the Illinois Chamber of Com- merce showed. These figures placed the May new-car sales at 23,046, or 5728 under May, 1929. The May total was T eats of €30 over Apell, which was 1,477 ahead of March. Total sales for the flrll five months of 1930 amounted to 92,634 new cars, as com- pared with 114,193 ln 1929. NEW YORK COTTON NEW YORK, June 3 (Special).—The combination of excellent weather in the cotton belt and weak outside markets caused the heaviest pressure in some time on the cotton market today and prices declined $1 a bale for new crop deliveries. Cotton range: EEGE .-.=.=,=.=: METAL MARKET. NEW YORK, June 3 (#)—Copper quiet; electrolytic, spot and future, 13, Iron quiet, unchanged. easy; spot and nnrhy. 30.12; future, 30.50. Lead steady; spot, New York, 5.50; East St. Louis, 5.40. Zinc quiet; East St. Louis, z_s’poc and future, 4.62a4.65. Antimony, TU. S. TREASURY BALANCE. The United States Treasury balance announced today as of close of business May 29 was $104,609,500.71. Customs receipts for the month to date were $51,722,273.92. Total ordinary expendi~ tures $8,154,488.44. Cities Service Company Common stockholders of Cities Service Company of record on May 29, 1930 are now receiving their Rights to purchase at par a new issue of the Company’s 5% Con- vertible Gold Debentures due 1950, at the rate of $100 principal amount of Debentures for each 25 shares of Common Stock then held. Payment for these Debentures must be made on or before June 16, 1930, on which day the Rights expire. We regard the offering by Ci attractive, and recommend that stockholders exercise their Rights to subscribe for these Debentures at par. _ In accordance with arrangements being made with dealers and banking institutions throughout the country, Common stockholders may forward subscriptions through their local banker or broker for entry and payment not later than June 16, 1930 at an authorized depositary of the Company. es Service Company as If desired, we will enter subscriptions, or supply details of the offering, including a circular descriptive of the Com- pany and of these Debentures. Harrls, Forbes & Company Pine Street, Cormer Willlam, New Yerk Ground Floor, Woodward Bldg., Washington, D. C. Harris, Forbes & Company Incorporated Bosten Harris, Forbes & Co., Ltd. Harris Trost and Savings Bank Bond Department Chicage Lenden Harris, Forbes & Company Limited Montreal Toronte Harris, Forbes & Cie Parle