Evening Star Newspaper, June 20, 1930, Page 14

—14 " BUSNESS AD SEE INCHEAPER MONEY Falling Commodity Prices Are Declared Obstacle to Trade Recovery. FINANCIAL Stock and Dividend Kendall Co Kennecott Cop Klnney (G R) «1)... Kinney (GR ) pf (8). 1% Kolster Radio. .. 384 Kraft PhCh (1%) 264 Kr ) Kroger Gr&Rakinl). 21% Lago Of! & Trans 7615 Lambert Co (8). BY JOHN F. SINCLAIR. Bpecial Dispatch to The Star. . NEW YORK, June 20.—The vigorous "“rise in the stock market list and the drop in the rediscount rate of the New York Federal Reserve Bank from 3 to 2!, per cent registered two favorable business signs yesterday. After a week of violent declines, the “market in a turnover of 3,750,000 shares saw prices rise from 5 to 12 points. Short covering had a lot to do with » ‘the recovery, but prices maintained """ their strength well to the end of the < session. 16% Lorillard (P) Co. - The dropping of the discount rate 8 Louisiana Ofl.. in New York for the sixth successive| 51% 3% LouG & EI(A)1%) ~ac time since the stock market break last y 138! 127is Louls & Nash (7)... October brings the rate down to the 24' Ludlum Stee) (2)... ixsclowest level since the Federal Reserve 244 Mac And & F (12.85). Bank began, 16 years ago. MacA & Forb pf (6). - The New York rate now is the same MeCall Corp (23%). . as that of the Bank of France and half a point lower than the Bank of .England. The English rate is likely to follow suit and cut from 3 per cent .. to the 2!, per cent. vy Money, too—the quick-turn commer- cial kind—is going begging. Commer- cial paper has been selling from 3 to 31, per cent and call mcaey rules -t! 32% Leh Port Cem (23%). 7% Lehigh Valley Coal.. 631 Lehigh Valley(t41) 69% Lehman Corp (3) 19% Lib Owens F GI (1), Liggett & Myers(15) 0 52% Liquid Carbonie (4). 42% Loew’s, Ine (3) 86% Loew’s. Inc pf (6%). 3 Ine 501 Loose-Wiles (12.80). 384 McKes & Ro pf(3%) 121 McLellan Store: 46% Mack Trucks (6). 169% 110% Macy(RH)&Co(nt3) 521 28% Magma Copper (4) 63 Mallison & Co. .. 15% Manatf Sugar pf. 13 Mandel Brother: 8% Man Elec Supply. 24% Man Elev mod g ( 13 Man Shirt (2) 85 Marlin-Rock ( 215 per cent on the Stock Exchange, with plenty of it available outside at; 2 per cent. i Cheap money is an important factor in bringing back prosperity. But it is & other factors—such as the falling world 10% Marmon Mot (h50c). price level—that are holding back trade 37% Marshall Field (2%) “recovery at this time. 3 Martin Parry....... William A, Jones, high executive of e LT the Henry L. Doherty Co. and the Cities’ 141 Maytag Co (12), - - Service Co., scheduled to_be the next 10" Mos Go -~ president of the National Electric Light 83 Mengel Co pf (1), Association, told the annual light and “power convention in San Francisco that there are as many automobiles owned in the United States as there are light and “-power customers, Recent figures indi- i_cate that it costs about $180 a year to maintain a small, popular automobile. Mr. Jones said “this represents six times the amount that the average fam- ily pays for light and power and we must conclude that the American fam- 1ly can afford to use much more of our service than it now takes, if we can but - show the added benefits and the com- “=" forts which will come through wider 180 176 37 16% Mexican Seaboard. 33% 15 Miami Copper (4)... 77 53 Michigan Stl (m234) 224 Mid-Cont Petm (2).. ¢ Mr. Jones also told the convention “’“that 94 per cent of his domestic cus- tomers now own electric irons, 44 per cent own vacuum cleaners, 33 per cent own washing machines, and only 4.5 own electric ranges and 9.4 own domes- tic_electrical refrigerators. tion point in sight here. - Often it is said that a successful leader knows early in life just what he Js.,.wants to do. But William A. Jones had no such premonition. Born on a Mis- souri farm 39 years ago, he did odd Jobs to get a schooling, carried papers, :72 ~drove a delivery wagon for a soda water mo-factory, and worked in a grocery store ~o~~catering to an Italian construction gang su.-]aying the first natural gas pipe line, renz Which carried gas to Southwest Missouri #:..,from Kansas. H Recently asked whether the young man today has as much chance as he wdid 15 or 20 years ago in business, Mr. #= rJones replied: ... “Any young man in a large organiza- nrvdlon who is willing to pay the price in z- +-personal sacrifice, who is willing to slo. .nubommnuhg‘ mflhu{ wo;}'.n hl|l( -1 -thrown at or can make for sel % .- all the opportunities he can prove capa- | 115% 118% Natl Supply pt (7). ble of handling. Usually there are re- | 98% 69% NatlSurety (5).. sponsible jobs going abegging because Nat] Tllc'll)-.-o-’n »=rmen are not willing to sweat enough to Neisner Bros (1.60) . +:- master the problems involved.” 32% 15% Nevada Copper (1 ;6) Now. Mr. Jones is the nfuve :md ?( gg gé 2::{’:;'5 = alU‘tz))( ). +»-130 utility and oil companies and rarely .. takes a dyny off, even for golf or riding, 38% N Y Airbrake (3.60 «u«his favorite recreations. N Y Chi & StL (6)os Gov. Roy A. Young of the Federal 178% N Y & Harlem (5) “rReserve Board championed trade area 20% N ¥ Invest (1.20) branch banking before the Minnesota | 128% 104 N Y N H & Hart (8). Bankers' Association. 135% 116 NYNH& Hof (1) The governor said that 88 per cent| 174 81 N Y Ont & Western. of the 5,000 banks which failed during | 104 100 N Y Steam pf (6)... 1 .the nine years prior to June 30, 1929, | 116% 110 N Y Steam 1st pf (7) had less than $100,000 capital each, and | 265 221% Norf & Western (10) +...85 a result of this condition, while ad-{ 15% 7% North Am Aviation. “'mitting that experience with group| 132 93% North Am(b10%stk) banking so far been too limited| 57 51 North Amer pf (3)... to permit us to be dogmatic,” he favors | 105 100% North Am £d pf (6).. the Pole plan of extension of branch| BS% 45 NoGer Lioyd (3.43). :;fing thin certain definite trading| 7 71, Norin r:;m"“:‘”; “I think that the logic of events forces | 4 % Norwalk Tire & Rub. ».us to conclude that branch banking| 3 2 NunnallyCo. within limited area is a reasonable con- | 15% 9% Ofl Well Supply s Cession to make to the present-day con- £Z7 ditions which must be met,” the gov- & .. ernor said in his address. “Beyond this “““limited concession I preserve an open mind in the hope that a timely ex- rience will help us develop the right - ind of a banking system for our chang- * ing economic world.” The difficulty in the matter, Gov. ~Young thinks, is in defining the defi- 3.5 nite trade areas. “None of us as yet ~~ has been able to do 50,” he said. In this column quite recently the question of whether any executive is worth $1,000,000 a year in salary to any ... corporation was discussed. Opinions differed, as was.to be expected. But ‘what about million-dollar fees? This week two fee contest cases have s appeared in the business world. Dis- . .'putes as to the value of the services Tendered have brought them into public , attention. William Van Alen, architect of the new $14.000,000 Chrysler building in New York, is demandmg for his services a 6 per cent fee ($865,000) on the total cost of this new 77-story skyscraper. ‘This charge—6 per cent—is that estab- lished by the American Institute of Architects, although many architects “charge as high as 10 per cent of the total cost. Mr. Chrysler, believing such a fee too large, offered $175.000—or a little over 1 per cent. But how much is such serv- ~Aces worth? Another case is that of Wayne John- H son, former solicitor of the United L _States Internal Revenue Department, ‘ who claims a fee of $5,000,000 for ob- * taining an income tax refund of $33,- - .. 000,000 for the United States Steel Cor- " poration. | Was it worth $5.000,000 to the United States Steel Co. to secure a refund on its income tax of $33.000,000 from the United States Government? This is the question. The late Judge Gary, then chairman, was to determine the fee of Mr. Johnson. But the judge's death held the matter up. | Today a million-dollar fee is not un- usual, and scores of them are con-| .., tracted and paid every year in the busi- | ) op ME8S world. i (Cooyrignt, 1930. by North American News- | ver Alance.) { INVESTMENT TRUSTS NEW YORK, June 20 (#).—Over the | counter market: Am 1Ins Stocks 63% 36 MonsantoCh (gii). 49% 34 Montgom Ward (3).. 16% 3% Moon Motor: . 72 53 Morrell & Co (4:40) No satura-| S5 11% 81 34 114 Mother Lode (20c).. 3% Motor Meter G & El.. 38% Motor Produects (3) y (b3 %stk) 49% 35% Myer(FE) & Bro(3). 58% 80% Nash Motors (6). 2% Omnibus Corp. 36 Oppenhm Collins (5) 99% 63 Orpheum Cir pf (8) 80% 55 Otis Elev. n(2%) 60% 46 Owens.ill Gia 19% 15 Pacific Coast 2d pf.. T4% 52% Pacific Gas & El (3). 107% 72 23% 121 Packard Motor (1) 64% 51% Pan-Am Petrolm. 6715 50% Pan-Am Petm (B 12% 414 Panhandle P & R. 7T 48% Param'nt Publix 35% 0. 19% Park & Tilford (33). 1% Park Utah. i Car.. 55% 26% Penick & Ford (1)... 80 48 Penney (JC) (3).... 12 6% Penn Dixis Cement.. 86% 70% Penna RR (4)... 21% 17% Pet Milk (134).. 19 Petrol Corp (13%4). 29% Phelps Dodge (3). 50% Phila Co 6% pf (3) 11% Phila Read C& 1 8% Philip Morris (1).... 27% 20 Phillips-Jones Corp. 756 70 Phillips-Jones pf(7). 44% 2% Phillips Petrm (n2). 33 21% Plerce-Arrow (A)... 2% 17 il . 52 20% Plerce Ol pi 7% 2% Pierce Petroleum. 37% 28 Pilisbury Flour (2).. 50% 40 Pirelli, Italy (a3.14). 81 5% Pittsburgh.Coal. .... 17% Pittsbgh Serew 1.40. 93 Pilts& W Va (6).... 1 Pittston Co (37%¢).. % Poor & Co (B) (2)... P Rican Am To (B). 9414 Postal Tel & C pf(7) 36 Prairie Ofl & Gas(2) 44% Prairie Pipe L 65 Pr 51 52% Proe & Gambl 613 Prod & Refiners. .... 123% 51'% Pub Serv.NJ (3.40). 985 91% Pub Serv N J pf (5). 112% 106% Pub Serv NJ pf (6). 89% 63 Pullman Corp (4)... 85 1 Punta Alegre Sugar. 27% 20 PureOll (I1%) 88% 57 Purity Bakerie: 33% Radio Corp. 53 RadlopfA (3%). 68 Radlo Corp (B) (6 19 Radlo-Keith-Orph A 108 54 60 16% 6% T8 167 L THE EVENING STAR, WASHINGTO NEW YORK STOCK EXCHANGE Received by Private Wire Direet to The Star Office. (Continued From Page 13.) les— 00. High. Low. 0s 77 7 123 1 608 7 5 T 19 20 108 35 41 25 85 3% 50% 274 3 6015 19% 816 4 69 65 1101 1 63% 2% 24 21% 9014 90 23% 64 01 31 57% 18 81k 57% 18 814 16 36% 34% 35 2 133 130 133 30 27 24% 24% 2 20 251 1 10 408 13 13 2 1 14 40 1 17 3 7 17 10 28145 Metro-Gold pf(1.89). Mex Petrolm (132).. 10 14 1 89 19 2 123% 1 2 5 88 2 2 81% Morris&Essex (3%). 20s 10 22 31 3 1 108 408 284 96 24% 39% 13 P 327, 28 96 53 48% 19% 115 324 221 19 101% 101 111% 111% 6 223% 228 39 2! 8% 8 106 5514 8% 9% 55% 102% 102% Pacific Lizhting (3). . 49% 6% 73 1% 2% 23% 33% 528 16% 107 2 i 32 2014 1% 6 4015 . 52 70’ 46% 8% 574 71 T 92 49% 2% 72 1% 2% 20% 32% 524 15 9% 20 70 31% 20 450 T 56 704 T4 90 94 281 96 424 74 22 38% 13 49% 115 32 454 8% 5T 0% T a1 9415 12 17 e 31% 814 | 2014 7 95% 9414 110% 66 ) Reynolds Metls 3.40. 3 Reynolds Sprin; . 45% Reynolds Tob B (3). 14% Richfield Ofl (2). 16% Rio Grande O11 (2).. 39 Ritter Dent Mfg (13) 274 Rossia Insur (2.20).. 49% Roy Dutch (a1.3415). 75% Safeway (eb: 94 Safe ot St L-San Fran pt St L Southwestern. 68% Sears Roebuck(323%) 1l Seneca Copper. 6% Servel. Ine...... 161 Sharon Steel H (2). 16% Sharp & Dohme..... 33 Shattuck(FG)(t1%) 18 Shell Union (1.40)... 95 Shell Un Of pf (5%) 8% Shubert Theatres.... 24% SimmonsCo (3).... 18 Simms Petrm (1.60). 20% Sinclair Con O11 42) 108 Sinclair Oll pf (8) 28% Skelly O11 (2). 90% Skelly Oil pf(6 4 Snider Packing.. 95% Solvay Am pf(5%). 19~ Sou Porto Sug (1.40) 53% Southern Cal Ed (2). 3% Sou Dairies (B) Southern Pacific (6). 101% Southern Rwy (8)... 97% Southern Rwy pf (5) 19% Spang-Chalfant.... 17 3% Stand Comm Tob. 85% Stand G & E (3%).. 61% Stand G & E pf (4).. 99% Stand Gas& El pf(6). 110% Stand Gas&El pf (7). 74 Stand Invest Corp. .. 55% Stand O of Cal (2%). 98 Stand Oll Exp pf(5).. 29 Stand Oil of Kan (2). 58 Stand Oil of N J(12). 30% Stand Ofl N Y (1.60) . 1% Stand Plate Gla . 31% Starrett (LS) (12%4) 10% Sterling Seo (A). 12 Sterling Seo pf( 36% Sterling Sec cv pf(3) 20 Stewart-Warner (1). 7014 Stone & Webster (4). 25% Studebaker Corp (¢). 70 50 SunOfl (f1).. 105% 102% Sun Ofl pf (6). 43% 40 SuperheaterCo(The) 5 Superior Ofl. . . 9% . 29% 1215 Superior Steel 815 Sweets of Amer (1) .. 2% Symington. .. - T4 Symington (A)...... 15% Telaut Corp (11.30) 11 Tenn Cop & Ch (1). 50% Texas Corp (3). 50 Tex Gulf Sulphu: 8% Texas PC& OIll. rmotd Co (2). 614 Third Avenue. 25 Third Natl Inv (3). 36 Thompson (J R) (3 20 Thompson Prod(2.40" 9% Thompson Starrett, , 40 Thomp-Star pf (3%) 10% Tide Water As (60c). 12% Timken Det Ax(80c). 59% Timken Roller (3). 2% Tobacco Products. 7% Tobacco Products A. 16% Transcontl Oil (30c). 11% Transue & W (1). 894 Tri-Cntl Corp pf (6). 30% Trico Prod (2%) 14 Truax Traer.( o 30 Truscon Stl (£1.20).. 18% Twin City Rap T(§4) 138 83 125% 121 17% 10 Und-Ell-Fischer (5). Union Bag & Pape: Unlon Carbide (2.( Unilon Ol of Cal (32) 242% 208% Union Pacifie (10)... 86% 82 Union Pacifio pf (4).. 25% Union T'k Car (1.60). 43% Utd Atreraft, . 56 Utd Afrcraft pf (3). Utd Biscuit (1.60) Utd Cigar Strs pf. 28% CUtd Corporation 46% United Corp pf (3).. 50 Utd Dyewood of (7). T4 Utd Electric Coal. 83 Utd Fruit (4). 31% Utd Gas & Imp 44 Utd S T4 U 8 Leathes 15 US Leather (A) 77% U S Leather pr pf(7) 18% USPipe & F (2). :0% U 8 Realty (5). 20 19% U S Smelt Ref (3%). 155 U S Steel (7). 141 ! 591 U 8 Tobacco (4) 122% U 8 Tobacco pf (7). 27% Univ Leaf Tob ¢3). 2% Univ Pipe & Rad. 30% Utll Pwr&Lt A (e3).. 2% Vadasco Sales Corp. 414V 23 Va-CaroCl ! 105% Va El & Pwr f (7).. 60 Vulcan Det (4)..... 85 Vulcan Detin pf (7). 33 Wabash............ 24Y% Waldorf Svatm(1%) 223% Walworth Co (2). 21 Ward Baking (A) 44 Ward Baking (B) Ward Baking pf (7). 36% War Bros P pf (2.20) 13% Warner-Quinlan (1). 154 37% Westinghse 4 B (2). 4 127% Westinghse E&M (5) 126 29% Weston Kl Instr (1). 32 Westvaco Chlor (2). 29 White Motors (2)... 36' White Rek MS(1414) 5 White Sewing Mach. 24 Whit Sw Mch pf (4) 5% Willys-Overland.... 62 Willys-Over pf (7 7% Wilson & Co (A) 52% Woolworth (2.40). 6Tu Worth Pump. . 67% Wrigley (Wm) (4) 46 Yale & Towne (15) 12% Yellow Truck 72 Yellow Truck 3214 Youngs Spring 5% Zenith Radio....... RIGHTS EXPIRE 16 Am Tel & Tel.Aug | 18% Ches & Ohio..July 23 # DuPont deN..July 15 .June 23 49% Vanadium St (14).. 1 8 47 Sloss-Sheffleld pf (7) 240s 3 7 2 2% Stand Plate Glass pf.200s 4 10 8 7 30 6 3 1 3 64% Twin City RT of (1) 20s 36 Und-Ell-Fshr pf (7) 50s 297 40 10 5 23 108 3 3 3 17 201 410, 108 15 4 15 2608 18 2 38% Warner Bros Ple (4).1051 1 24 37 6 28 520 Westhse E&M pf (5) 100s 8 3974 210% 2. 841 2814 495 58 46% 19% 7 25 381 2514 11% 4l 39% 14% 85% 27 525 581y 4% 467 7 57 D. C., FRIDAY, JUNE 20, 1930 FINANCIAL. BONDS ON N. Y. STOCK EXCHANGE Received by Private Wire Direct to The Star Office. UNITED STATES. (Sales are In $1.000. Low. 100 30 102 10224 101 20 10125 106 4 108 20 11230 FOREIGN. Sales. High. g% Australia ¢3%s 5! Australia 5s'55. Australia 58 °57. Austria 7 Bank of Chile 6% PRan~swatn~s Belgium 7855 Belgium 7s ‘56 Bolivar 7s '58. Bolivia 7s ctfs Bolivia 8s. e Sa5 Con Pwr Japan 7s.. Copenhagen 4% " Copenhagen bs rets Czecho 8= ‘51 Czecho 8s '52 Danish Munte . Danish Munic 85 B. anmon Denmark 6%s Denmark 6s. Fiat 78 ex war *46. Finland 6%s. Finland s £ Finland 7, Framerican 7% French 7s. French 7%, Ger 548'30-'35 rets German Bank German 7 Greek 63 °63. German EI P 6% Irish Free State bs. Italy 7s italian Pub Sve 7s. Japanese 4a. Japanese 514 s Japanese 614 Jugoslavia B: R BRE— Beth Steel rf6s.... 11 104's 104 Brklyn Edison 6s.. 1 105 105 105 Bush Term Bldg 1101 101 101 42 94y 63 102 99 5348 ConGasNY5% Consumers Pwr §s. Det Edison bs *¢0. Mot Ae Cor €s. Gen Pub Sve 6%s. . Gen St Cast 6% Gen Thea Eq Gen Thea Eq Goodrich 6% HumbleO & R HumbleO&R 6 | 101 Steel ¢ | nlana s {ntl Cement Int] Match 68 47 Intl Mer Mar Intl Paper 5847 Intl Paper 6s. . Intl Tel & Tel 43%s. Intl T&T 4 %sev. . Intl Tel&Tel Ll Laclede Gas 6. Ki e RIS - =gt P e oSN RNRN s HENREn Caxxaa SN Lortllard (P) 7s... Manat! Sugar 7%s. McC'rmek KR 6834 Montana Pwr ‘43 | Morris&Co 1st4134 Nat Datry 6 Radiator 634, 5 | Nor States Pwr Pacific Gas & Kl 5s. |PacT& T 1. Phila & Read 65'49. 198 Phillips Pet 6%s.. 8 Por Rie Am Tob 6s. | Postal Tel & C 648 Pub Sve G 43s 67, Pub Serv G 4345 '10 | Pure Oll 6348 °37 4| Rem Arms 63137 New So Wa Norway 68 ‘63. Norway 614s. Norway 6s "4 Norway 6%s '52 Orfent dev 53 58. . Orient Dev 6553, .. Paris-Lyons-M €s. Paris-Ly-Med 7s. Paris Orleans 5343, Peru 6360 Queensland 6s. ... Queenland 7s Rhine Wst EP 6 Rio Gr du Sul Rio Gr Du Sul Rome 6%s. . i R'y’'l Dutch 4% sww San Paulo City 8s.. Sao Paulo '50. Saxon (PW) 7 Seine 7842 Toho El Pwr 6 Tokio 6s. ... Toklo 6%s 61, Vienna 6s 52 Yokohama Ajax Rubber = Alleghany Cp 68 ¢4 Alleghany Allis Chalm 68 Am Chain 6s'3 Am Water Wks 6. Armour&Co 44 5'39 Armour, Del.5% Atl Refining 6s.... Bell Tel, Pa, 68 (B) Bell Tel Pa 63 (C) Bethlehm £l pm 63 101% Rem Hand 5%s war Richfield Ofl 63 "¢4 Stnelair O11 63 Stnclair O1l 648, Sinclair O1l 7s. Stnclair Crude § Tenn El Pwr 63'47, 13 Tex Corp ev 5s ‘4. %06 Transcontl Ofl U S Rubber 733, Utat Pwr&Lt 68 Utilities Pwr 533, | Walworth 6s "4 W, Warner Sug 7s "41 Western Elec bs. . . Westn Union bs'51. Westn Union 634 8. White Eagle 5 White Sew Mach Wickw Spen 1sf Wilson & Co Youngstn S &T 6s.. 17 RAILROAD. | Atchison adj ¢s 1% Atchison gen : A, T&SF cv 414548, Atl Coast L 1st ¢ AtICL4%s64. B & O gold 4s Ocv4ls'iy 4%s'60. .. ref 5 63 20 Garcts.. ref 6595 TOTOWEHD PRRRRRMR 0000¢co . 6 OSW 63'50.... 12 B & O Toledo | Bang&Aroos 45 '51. Boston & Maine §s Brdway&7th Av bs. Bklyn Elev 6 Bklyn Manhat 6s.. 165 Bklyn Un 1st 5s'50. Can Nat 4%s 54... Can Nat 4148 '67 Can Nat 4345 ‘68 Can Nat bs, July" Can Nat bs. Oct 69, Can Nor 4148 '35 Can Nor 6%s. Can Northern 7s Canadian Pac db § Can Pac 438 '46 Can Paclfie ctt | Can Pacific 5s '64. , | Cent of Ga 6sC 59. . Cent Pacific 4s '49 Cent Pac 1st 6890, Ches Corp 55 47.... Ches & O gen Ches & O 43833 Ches& O 438 B'95 107%4 Sales. High. Low. Close. | 104%, C B&Q Ill div ¢ 15 | Kan City Sou 3 4 | Leh Valley 6s'20.. Mob & O 4%wm %! zzizzzz Low. Close. 94% 94N €5 65 % 70 704 103% 108!y 8% 85% 98y Chi & E 111 gn 68 51 Chi Gr West 48 Chi Ind & Chi M&St P Ch. M&StP 4% ChiMiIStP&P by’ 145 | CM&SP Pac adj Chi& NW gn 3% Chi & NW gen 4s... Chi NW 4148 2037.. Chl & NW 4%s Chi& Nw 6%s. .. Chicago Rwys 5s.. ChiR1&P gn 48 ChiR1& Prf 4 ChiRIcv4ts60..131 Chicago T H bs Chl Un Sta 4%s. C& W Ind con 4s.. C& W Ind 5%s'62. | cccastL 4% lE; CubaNor5 148’42 Deld& Hud ref 4 | Del & Hud cv & . Den & Rio Gen 4s. . Det United 4% Duluth S S & Atl 58 Erie conv 4s (A) Erie conv 4s (B) Fla East C 6874 Gr Trunk st deb 6s. Grand Trunk 7 Gt Nor 4%s'76(D). Great Nor gen 7s. Hav El Ry 5%8 '51. Hud & Man ad) bs. Hud & M: of 5i | | 1 Cent ref 4 111-C-C-StL&NQ § Int Rapid Trans bs. Int Rap Tr 6s stpd. Int Rapid Trans Int Rapid Trans Int Ry C Am 6841, Int Rys CA 6%sre. Kan City Ft 8 ¢s Kan City Term 4 | Liake Shore 43 '31. . Leht Val con 4s. ... Lehigh Val con 4 %# | Long 1si re'as"49.. L& N uni & . | L&N4%s2003.... Louis&Nash 58(B). ManRy 1st 4390 Man Ry 2d 45 2013, Market St 75 '40. .. Mill El Ry&Lt 4%s Minn & StL ref 4 M StP&SSM con M StP&SSM 6%s. . MK & Tex 45 (B Mo Pacific Mo Pacific 58 A "65. Fr Nassav El 48 Cen ref 6: Cen deb 27222227 e % = Chi&StL 4% s° C&StLb%sA C & StL 65'31 40 ZZ g 1 33 as ¥ Y Railway 6s. Norf &Wn con 4s. . Nor Pacific 3s 2027. Nor Pacific 58 1D). Nor Pacific ref Ore Wash 1st 4 Penna con 4 %s. Penna gen 4%8 q Philippine RR ¢s. . Port EI P L 6 Port RL & P 6 Reading gen 43 A RIArk& L 4%s StLIM&S StL IM&S R&G 4s. StL&SFpldsaA,.. StL&SanF 5s B StLE W 1st St LS Weon San An&Arn P Tex & Pac bs B 77. Tex Ark FS'5% s’ Union Pac 1st 4 Un Pac 1st ref 4. Union Pac ¢%s. Virginia Ry 1st 8s. Wabash 4% ‘7! % 1% VEGETABLE SHIPMENTS HEAVY; PRICES DECLINE Heavy shipments of string beans and i1 squash from North Carolina has result- 17% 19% 1 % ed in lowering prices of the vegetables and glutting the market. Shipments became so heavy, it is stated, that com- mission merchants had to refuse some of them, realizing they would be unable to remit even so much as express charges, Dealers offered bushel baskets of the ing, making efforts to sell the choicest receipts around $1. In some instances, it is stated, receipts were not in the best condition and it became necessary to call in food inspectors to make con- demnations. There was no dumping of surplus stock in the river, such as was reported done in New York this week, local laws preventing such disposition of refuse of any kind. Every effort is being made by food inspectors and commission mer- chants to properly dispose of receipts, shipments not in good condition being | condemned and sent to the garbage dis- | posal plant, | their best to'salvage the surplus stock | that is in good condition. | vegetables as low as 50 cents this morn- | CHICAGO, June 20 (#) (United States Department of Agriculture).—Hogs—Re- ceipts, 20,000 head, including 7,000 di- rect; opened steady with yesterday's average; later trade weak to 10 lower; slow at decline; top, 9.85; only occa- dium to choice, 250-300 pounds, 9.25a |9.75; 200-250 pounds, 9.40a9.85; 160-200 | pounds, 9.409.85; 130-160 pounds, 9.25a |9.75; packing sows, 8.00a8.75; pigs, me- dium “to choice, 90-130 pounds, 8.50 Cattle, 1,000 head; calves, 1,000; very narrow, sluggish, uneven 'trade; not much here; few loads strictly grain fed steers, grading good and better, steady: 11.25; slaughter classes, steers, good and choice, 1,300-1,500 pounds, 10.2: 1,100-1,580 pounds, 10.00a12.50 1,100 pounds, 10.00a12.25; common and yearlings, good and 750-950 pounds, 10.00a12.00. Heifers, good and choice, 850 pounds down, 9.25a10.50; common and medium, 6.25a9.25; cows, good and choice, 6.75a 9.00; common and medium, 4.50a6.75; choice, good and choice (beef), 6.50a8.25; cut- ter to medium, 4.5026.50; vealers (milk sional sales above 9.75; butchers, - | ds. 9358 | 40 per cent of all those traded in. A CHICAGO LIVE STOCK MARKET | | others on a hit-or-miss basis; day's top, | medium, 850 pounds up, 7.25a10.50; fed | Bawa low cutter and cutter, 3.25a4.50; bulls, | Gen STOCK LIST CONTRINS MANY ISSUES UNDER $30 Special Dispatch to The'Star. NEW YORK, June 20.—A broker looking over the stock list today found over 400 different issues quoted at $30 or lower. This represented more than considerable number of these stocks were selling at $25 or less. From this, he argued that the public that has been complaining that it had few low- priced issues to trade in now had abundant opportunity to buy the type of security which it had been secking. SHORT-TERM SECURITIES. (Reported by J & W. !ellnnnn‘:z Co.) Allis-Chalmers Co. Ss 1t Tel. & T Corp. Goodear T & Godyear T Grand Trunk ‘of Gulf Ofl 'of P Humble, Ol BOND PRICES GAIN . - ON EASIER CREDI! Cut in Money Rate Stimulate, Market—All Groups Improve. BY F. H. RICHARDSON, Special Dispatch to The Star. NEW YORK, June 20.—Under th which_followed the cutting of the Ne York Federal Reserve r!'dt.gl‘num rate t 2'; per cent, and the removal of forea liquidation by the upturn of stocks, bon prices advanced strongly today, pract cally the entire list coming up from to 5 points from the low levels of th year. Naturally the effect was strongest i the United States Government list, an the Liberty issues all went to their pea prices for 1930, with the Treasury de scriptions making decided progress tc ward the same mark. High-grade rai' road mortgages, public utility issue convertibles, junior rails and industria Jjoined the upward trek. Syndicate Dissolved. The syndicate in charge of the Sa Paulo 7 per cent coffee realization loar which was put out in March at 96, w1 dissolved and the price dropped imm¢ diately from the “pegged” level to & down 5 points on the day and 6 poinf below yesterday's high. For some tim the bonds, of which $35,000,000 wer distributed here and $50,000,000 in Lor don, have been available to buyers at to 3 points below the list price, and 1 London they have been selling at ovt 4 points discount. The issue is backe by coffee valued at $198,000,000. Elsewhere in the foreign departmer higher prices were the rule. Germn obligations came up from their lo of Thursday. Belgian bonds advance steadily and most of the South Amer cans showed progress. The new Ge man 5'58 were still quoted at 90, o moderately large transactions, Domestic high-grade rails, Atchison general 4s, New York Centr 4s, Pennsylvania 413s, Prisco “A" 4 Union Pacific first 4s and Great Nort} ern 7s, went to their best prices of t} year, and 5o did other prime crediy like Standard Oil of New Jersey § Duquesne Light 4!5s, Utilities Power Light 55 and American & Foreig Power 5s. Convertible Group. Bonds with convertible or stock o) tion features were unanimously stro; with stocks on the opening, reactiy :llgr::ly when stocks later reversed the rend. National Dairy products 5Ys con tinued to feature the industrials. T} price was fractionally lower tods Transcontinental Oil 6!2s went to fresh top for the year, above 106, 1 flecting the progress of the stock in ry sponse to arrangements for merging tl company with Ohio Oil. In the juni rails the only weak issues were Chic: & Eastern Illinols 5s, Missouri-Pacf 5128 and Frisco 41;s. Was_hington Stock Exchang 'SALES. Capital Traction 35—$1,000 at 9114, D. C. Paper 6s—$1,000 at 70. Norfolk & Washington Steamboat rt w.i.—10 at 16, 25 at 16. Continental Trust Co.—10 at 125. Mergenthaler—10 at 97%, 10 at 973 5 at 973, AFTER CALL. Washington Gas 6s B—81,000 at 105Y !‘e;i;sral-Amerlcln National Bank—3 ¢ Washington Gas 6s A—8400 at 101} “\;N.i at 101Y, $300 at 101!, $300 ¢ 10 ational Bank—3 at 470, 2 4 BONDS. Bid and Asked Prices. PUBLIC UTILITY. such Riggs 470. Amer. Tel. a. Amer, Tel, & Teles. 4 m. Tel. Ascoptia % Bor. " tomac Elec. Potomac, Elec, Barber & Ross .Ifc., 8!a: Cham.-Vanbit. Hote] 6}a Gheyy' Chase club, 8 A am| N. & W. Steamboat ri Pot. Elec Power 6% pfd Elec Powcr $ia% & e & Annep. pfd.... NATIONAL BANK. Capital (14), Solumbia 112 . ) (siamped)’ ¢ Wash. Ry. Wash., Balto. Wasi, Baito, Second Washingion {31! ¢ TRUST COMPANY. . Sec. & Trust Co. (15)... Eominenta Srrust (a3 a0 Merchants' Bank National Sav. Prince Georges BK. Union Trust (B8): o .o oo Washington Loan & Triist (14, BAVINGS BANK. Bank of Bethesda (85) _........ Commerce & Savings (10} E hington (12). 0 65 @0yl FIRE INSURANCE, American (12) ¥ i National Union {18} TITLE INSURAN Columbia (6h) ... S Real Title & Washington Barber & Ross, Inc, com evy airy pfd. Col. Band & Gravel ptd. (1) R sec. "brd, (1) o0-Selz, A" Federal Storage pfd. "(8) Fed.-Am. Co. com. (1.20f) Fed-Am. Co. pfd (8) Lanston Monotype Mer. Tr. & 8 Mer. Tr. & 8 Mergenthaler Natl Muge & Inv. bid eoples Drug Stor E Real Est. M. & G ofd (O com. ¢ The Carpel Cor Wash Meeh_ Mt Wash. Med. Bdg. Cor) Woodward & Lol *Ex dividend. B Books closed. wiWhen issued. dEx rights. double stimulus of lower money rate, * ' There was one outstanding exceptio '71 & Gamewell. 9 % 1% Hackensk W...July1 20s 1% .. 506.500 12:00 Noon 2,589,000 2:10 P.M. as given 1 the above table a: e fed), and choice, 9.50a11.25; medi- 28 Raybestos Man METAL MARKET. e O_Iml_w: T Ca on, 6.00a | IAter NEW YORK, June 20 (#).—Copper|9.00; stocker and feeder steers, good steady; electrolytic, spot and future. 12.| and choice, all weights, 9.00a10.50; com Iron *quiet, unchanged. easter: | mon and medium, 6.509.25. o spot and nearby, 30.37; future, 30.62. Sheep—Receipts, 6,000 head: fat Co.. "E 1938 14 Lead quiet; spot, New York, 540; East | lambs steady to weak; undergrades a rfl ;'r‘k{f’{-'.' ‘ml St. Louis, 530. Zinc easy; East St.| weak to 25 lower; sorted native lambs, | §;" t. & So. Ry, $s 1931 Louis, spot and future, 4.35a4.40.|12.00a12.25; fat ewes, mostly 3.00a3.50; | 8t. L. Sou 'stern Ry. 4s 1932 99 | Antimony, 17.10. lambs, good and choice, 92 pounds | SVl & Co, e 103 e down, 1150813 50° medium, $.00m15150; » ias | COMmon, 7.00a9.00; ewes, medium T ot wss | cholce, 150 pounds down, 2.0083.78; cull ner to act as the financinj And common, 1.0082.75. tion for Stewart-Warner distributors throughout the States. % e e el mmercia B o ; 1 558,200 Setropoiitan_ Club 415 Pixed Trust Bhares d Trust Shares B. “ Incorporated Equities. Incorborated Investors Invesimsnt Trust of N 3 opa asotd 5555 19 30s bnd ¥ 76 payments i 3 28 s Unit of oL = 26 Rem Rand (1.60).... 84 Reo Motor Car 180c) Reo Motor ctfs (80¢c) 1 Republic Steel (4) .. 21 Republic Steel pf (6) 7 énlml“l Ban) ble 1n scrip aes 1Plus 8% In stock. k Plus ‘ Pay. Plus 6% in '-m'ffx 40 % in stock. B Plur 90 Smees 3! Sicks 17 Bid: 1 pin Sacks 87 pid. e h segh or Connezticut Ple C n stock. k Petroleum Trad A%.)11 " . : £ L e Standard Amer Trust Shares . f x Shrs A 3 53, 194 Wheeling Steel Corp. 4':s 1953 Raleigh Hotel Co. e hington Savin Bank. h}nnun Title !Ill Co Wosdridse Lansdon e’ Bk Deposits in the British Post Office Savings Bank total over $1,420,000,000. American school in Ohile.