Evening Star Newspaper, June 21, 1930, Page 13

FINANCIAL. CURB ISSUES DROP AGAIN IN SELLING Stock Freely Offered at Short Session, With Numer- cus Declines. THE EVENING STAR, NEW YORK CURB MARKET Notice—All stocks are sold in ene hundred-share Ifl-x exceptis those designated by the letter s (65s) (285) which shows those stocks to be sold in odd lots only. Prev.1930.— Stock and Sales— High. Low Dividena Rate. Add 00 Open. High. 13 7 AeroSupply (B). 1 6% 6% 23% 10 Aero Underwriters.. 1 11 11 331y 19% Afnsworth (312%) 319 19 2% 1% Alr Investors (war). : 1% 1% 24 11w AlrInv.Inc.evpf... 1 11w 114 141 126 Ala Gt Sou pf (17).. 1208 128% 129 104% 103 Alabama Pwr pf(6). 1 101% 10i% 114 Aiexander Ind’ 2 H WASHINGTON, D. C, SATURDAY, JUNE 21, 1930. FINANCIAL. * A-13 CHAIN STORES NOW NUMBER 130,000 Review Shows Amazing: Growth in Past 20 Years. Received by Private Wire Direct to The Star Office INATURAL GAS IS NOW PIPED SUUIHERN TRADE | 'VAST DISTANCES TO FACTORIES —Prev 1930.~ High Stock and Dividend Rate. Lefcourt Real pf(3) Lehigh Coal & N 1.40 Leonard O11 Libby McNell & L. Lily Tulip Cup 1%.. Loew’s. Inc (war) Lone Star Gas. n (1), Long Isl Light(60c) Louisiana Lan & Ex. Mapes C Mfg (13%). Marine Mid (1.20). Add 00 Open. High. Low. Close. 29% 29% LTH 2T 3% 31w 3% 31 W 1% 13% 13% 19% COUNCI FORNED Dr. Lewis Heads Move to Aid Agriculture, Commerce and Industry. Low Close 6% % 31 11 18 18 1% 1% 1% 114 1283 129 101% 101% BY JOHN A. CRONE. @pecial Dispatch to The Star. NEW YORK, June 21 —Traders free- Iy offered stock today on the Curb Ex- | change, which opened active and lower | and continued that trend. With the ticker running 10 minutes late at the end of the first hour. floor prices showed the following fluctua- tions from their preceding close American Cyanamid B, 18'., off %; American Gas & Electric, 113, off 3! Assoclated Gas & Electric, 31, off 1: Biue Rridge, 7'a. off 7s: Cities Service, 267, off 1'x. and Electric Bond & Share, 721, off 33,. ' Flectric Shareholdings at 18% was off *; Goldman Sachs, 1814, off 1%; Middle West Utilities, 27, unchanged Niagara Hudson Power, 16's, off 1; Pennroad, 11':, up_ 1. Shenandoah, 101, off'y: United Light & Power A, 36's. off 1%: United Gas old, 22'x. off 214; 29. off 173, and United Founders. 20%. off . One of the features of the opening was the appearance of big blocks of | Yeading issues at lower prices. Electric Bond & Share opened with 14,000 shares at 747, off 1. Cities Service in a 12,300-share lot came out at 27'5. off 1. American Superpower on 4,500 shares at 23 was off 1'p. Goldman Sachs, opening at a new low record price of 19, created the early Unsettlement registered in trading cor- poration and trust shares. Insull Util- ity Investment, which on Friday de- | clared an extra dividend. opened at 843, off 11, and within a fraction of | == the year’s minimum quotation. United Light & Power A opened off &, despite a 8.69 per cent gain in electricity sales in April and earnings | for the 12 months ended April 30, of | $237 a share, against $1.71, in the| game period of 1929. Brazilian Light & Traction opened up fractionally in Fesponse to a 4 per cent gain in May et and a 2 per cent increase for the st five months. Gleaner Harvester opened up a point at 29, in response to nine months’ earn- ings of $3.15 a share, against $2.09 in the same 1929 period. ' NEW YORK COTTON b NEW YORK, June 21 (Special).— With the short interest materially re- @uced during the 70-point recovery since Wednesday, cotton prices broke nearly $2 a bale today under the in- fluence of weakness in both stocks and grain. Depressing outside factors brought about a resumption of the selling move- ment in cotton and prices ended with a loss of 26 to 34 points on the day. Spots were reduced 35 points to 13.70. Cotton range: Juls BT Detover, oid 111 1340 October, new’ ... 13.07 December, old. . 1355 December. new . 3 old BONDS ON THE CURB MARKET. Sales in thousands. 1Alubama Pow 5 [ESTIC BONDS. DOMESTIC BORRS, Low. Noon. 302t Toara 102 ¢ 1Alcbama Pow 55 '68102'; 1022 102'3 § Aluminum Co 5s '52. 103 ~ 103 103 40 Am Cmwih Pw 65’40 98 8¢ 1Amer G & E 55 28.. 4Amer P & L 68 2016. . 107 3 Amer Roll Mill 55 '48 2812 18 Appalach Pow 101 12 Appalach_Gas 110 8 Appalac Gas 6s B '45 99 17 Asso_ Electric 4las '53 85 101 ° 108 99 100 108 & El 55 '68 93': & E 5'28 38 81% & E5'8'77.. 96 53 ww 90 90 6 1017 101'4 T4'y T4'a 1014 1 3 Chic Ry cod 5s 2027 i 2 Childs Co 55 '43.. 152 Cities Service 55 '50 3 Citles Service 65 66 7Cit Serv Gas 5'us 42 25 it Serv Pow Siis '52 1 Consum Pow 4135 '38 17Cont G & E 55 A '8 10 Continen Oil 5iys 37 8 Crown Zeller s '40.. 10 Cudahy Pke 5ias ‘37 5 Denv & Sait L'8s 60 8 Det Inter Brdg 7s '52 32 Dix GG elas A 37 ww 8 Duquesne s I B E Bost 55 A 133101 3El Paso N G 6'as '38 107 ° 2Elec P & L 55 A 2030 90% 7 Empire O&R 5iis 42 86 ° 3 Federal Wat 5ios 'S4 94'% 4 Firestone C M 55 1Pisk Rub 'Sias P & L'8s 5 3 Gult ; 83uir & Uil 5 A 3¢ ¥ Hood Rubber 313 '36 15 Hous GG 638 43 ww Gl Gles A e Fd 6s 7Indnap P&L 38 A 37100 3 Injand Util s 34, 105 178 Insuil Utilie 8 B 40 100' S Inter Pw Sec s E '57 997, 8Intern Sec Am 5s 47 82! 3Inv Eq 5s A 47 xw. 8 Iowa-Neb L&P 58 31 8514 3 Kans G&E #s A 2022 108 3 Kelvinator 6s ‘36 xw 87 8 Kopper G&C 5'ss 50 103 2026 104 encs 5 R 55 '80 wi 100 ot 57.. 101% B 91 105% 81 Y £00d 962 aC W O 618 '43 ww 93 enn O Ed 5.5 B '5% 100 itts Steel 86 48 y oor & Co_6s ‘39 och Cen Pow 5s ' it L Gas & C 65 47 an Ant P8 55 B 58 haw W&P 4133 A '67 947 E P&L 65 A 2025 xw 106 uth Calif EA &5 uth Calif Ed 5s ' uthern N G 6s thw P&L 65 A 2022 1957, tandard Inv 8s '37.° 203, Standard P&L 6s '57 991, 28wift Co 5s '32..... 1007, iTexas Gas Ut 5 45 Texas P & L 55 '8 TIITIOQZZ D@D e S e s B A E = Runs e 235 s 10314 108'% 9413 9413 95 22022, 4<aac a an_Sweringen s a E & P 55 A vabash 55 D 80 aldor{-Astor ash 5 1Aer Mig Bank 1Asr Mtg Ban 7s 2 Bogot M Bk 7y 3 Buenos Aires 8,5 iBuen Air Proy 9 Buen Alr Pr 7 22 Chile Mt Bk 65 ° 1Com Pr BK 5!55 47 Cuban Repub_4s 2 Danisa Con _5'as 3 Den Mte B 55 12 Europ EI Cp 6.5 20 Euron Mte 7s C 215t Bo GW 7s 10 Gesfueral 65 Hamburg El 53 mbure Elec i 5 Helsingfors 6. Isarco Hyd Bl 7s '5 31ial Sup_Fow g '8 8 Parana Brazil s 3 prussia F 8 8¢ 1Rubr G Ruhr Hous § Rumania Inst 75 '39 1Santiaga Chi 29 93 10 Sauda F_Ltd 5s A '33 102 2 Stinnes 75 '46 xw. . 8 §Temni Soc #1s A 52 & Unit £1 Ser 15 56 xw 95 978, 978, 10013 10017 *00 8510 10175 1 9 o1 991, 529, xw_Without warrants. Following the recent announcement of 'ortsmouth, England, officials that radio would be permitted in saloons, 257 ap- Tications were filed at once, 9% 15% 56 109% 1615 90 61 401 42% 31% 39% 8u 17 25 25% 1847 1 1 18% 23 91 117% 4 Allegheny Gas. .. 9 Allied Mills (60c). .. 210 Aluminum Co of Am 184 Alumn Goods (1.20). 7 AmCapital (B). Am Capital pf (3)... Am Capital pr pf 5% 12% Am C P&L(B)10%) 144 Am Com I'(A) b10% 34'» Am Cwith P(B)10% ‘4 Am Cowlith Pwr war 18'% Am Cynam B (1.60). 124 Am Equitles..... 3%% Am For Pwr(war).. 110 Am Gas & Eleo ($1). 105% Am Gas&Elec pf(6). 7% Am Invest. Inc (B).. 52% Am Lt&Trae (n).... 364 Am Machine & Fdry. 31 Am Maize Prod (2).. 1's Am Maricabo Am St Pub S A(1.60) % Am Superpwr (1). .. 94% A.n Super ISt pf (6). 84 Am U&Gen B vte 400 7% Anchor P F (h10%). 154 Anglo Chil Nitrate. . 8% Appalachian Gas Xix Arcturus Rad Tub 8% Arkansas Nat Gas. . £ Ark NatGas (A).... 5% Asso Elec Ind (30¢). 37 Asso Gas & Elec. . Asso GEE (A) 12.4 ss0 GRE (A) db rts As50 Gas&El ctfs(8) Asso Tel Utll (b8%). Atlantic Lobos. . . .. 14 Atiantic Lobos Oil pf 16 Atlas Piywood (2) 3% Atlas Utilities(war). 5'x Auto Music A(11.05) 24% Aviation Corp of Am 124 Aviation Credit. ... 74 Aviation Securities. 46 BancomitCorp(1.60). 5% Bellanca Aircraft, 3% Benson & Hedges. 18 BlUsaCo (E W) (1).. 6% Blue Ridge Corp. 33% Blue Ridge cv pf(a3) $5% Brazil Trac & Lt (2) 2% Bridgept Mach (25¢) 2% Burma Corp (131c).. 11 Cable & Wire A rets. % Cable&Wire (B) rets 31 Canada Marconi. % Carib Syndicate 264 Carnation Co (31%). 18 Celanese Corp...... 70 Celanese 1st pf(7%) 3% Cent Atlantic States 25% Cent Pub Sve. Del. .. 281 Cent P8 (A) (a1 75) 20% Cent & Sw U(b6%).. 19 Cent States Elee 400 2% Chain Stores Dev. .. Chain Stores Stock 17% Chat Ph Al n-v(50c). 181x Chem Nat Aswo n-v 55 Cheeseboro Mg (15) 2414 Citles Service(330c) $8 Citles Srve pf (6). .. 15 Clark (DL) Co (1) 53 Clev EI Ilum (1.60). % Colombia Syndicat 3% Colon Oil......... 10% Col Ol & Gas v.t.e 24 Columbia Pie (11%). 314 Com'with & Sou war 12 Comm Wat Serv b6 % 15 Consol Afrcraft. ..., ' Consol Auto Merch 3% Consol Copper...... 13% Cons Dairy Prod (2) 90% Con Gas. Balio(3.60) 2% Consol Instrument. . 28 Cooper Bessemer(2) 5 Copeland Prod.Ine A 6 Cord Corp 20 Corp Sec, Chi (h6%). Corroon & Reynolds. 71% Cor & Rev pf (A)(6) 231 CosdenOil... . 514 Creole Petroleum 15 Crocker Wheeler. . % Crown Cent Petrol. # Cuban Cane pr ont w Cuneo Press (233) .., Curtiss Wright war. Cusl Mex Mining. 90% Deere & Co (11.20). 21s De Forest Radio. 17% Deisel W Gilbert (1 4'3 Derby Ol Refining. 5 Detroit Afreraft. 10 Doehler Die Castin; 12' Douglas Alr (75e).. 31 Dresser(SR) A(3%). 41 Driver Harris(new). 4 Dublller Cond & Rad 45 Duke Power (15). Duquesne Gas (new) 2% Durant Motors. ... 1 Durham Hosiery (B) 25% Eastn G&F Asso. 18% Eastn Sta Pwr B(1 7' Eastn Util Inv (A) 10 Eisler Eelectric(1% 92% El Bond&Sh pf wi(5) 72 El Bond & Sh (b§ 34 1% 109% 103% El Bond & Sh pf « 391 37 T84 327 108 15% 60 190 2914 1667 14 2T% 1 119 55 15 30 28 4Ty 204 3% 12 2514 END many Brook says 19 Elec Pwr Ass0 (1).. 16% Elec Pwr Asso A (1) 26! Eles Pwr & L op war 151 Elec Shareholdg(21) 82 El Sharehold pf (6). 12% Empire Fire Ins. ... Empire Power (2).. 17'» Emp Pub Sv A(1.80) 42% Fureka Pipe L (4).. 128 Europ EL Ltd A (60¢) 3's Furo Elecdebrts. .. 2 Evans Wallow Lead 2 Fabrics Fininshing. 6 Federal Baking Shop 13% Fokier Atrcraft, 28 Ford Mot, Can A 1% 104 Ford Mor.L.1d 27 e. 5%, Foremo: b (2). 2is Fox Theater Cl (A). 64 Gen Alloys (80¢). 2% General Baking 2814 Gen Baking pf (3).. 10% Gen E. Ltd rcta(50e) 21 Gen Empire Corp... 30 Gen Fi'proof (12%). 5 Gen Laundry Mach. 20 Gen W W&E(A) (3). 9814 Ga Power pf (6). 21 Gleaner Harv.n (2). 98 Glen Alden Coal 8. 10 Glob~ Underwriter Golden Center . 20 Goldman Sach T C 1% Gold Seal Elec new s Goth Knltback Mach GrA&PTo-v5) 11% Groc Stores Prod vte 30 Guard Fire Asso(2). 26% Guenther Law (2).. 120 Guif Oflof Pa1%4). 10 Hecia Mining (1) 13 Houston Ofi of Te: 7 Hudson Bay M& 8 78 Humble O11 42). . 3614 Hydro Elec Sec (2).. 10 Hygrade Food Prod. 181 Imp O1l Can. n(50e). Imp Ofl Can reg 50c. Ind Terr 111u O11 1A) Ind “in ctfs(b10%). 54 Insull Ut Invib6%). 67 InsCo. No Am (13). 16% Insurance Sec(1.40). * Intercontinent Pet n 4% Int Holdg&Inv 10e 17% Intl Petroleum (1) 2% I[nternat Products. 25 (nt] Superpwris1). . % Int Utilities A (314). 6% internatl Util «B). . 'y [Intl Utlifties (war) 12 Irving Air Chute (1). H4 Italian Superpwr A . 4% Ita'tan Super war. .. 9% Klein(H\pt pf(3120) s Kolster-Er (Am Sh) 35% Lackawanna Sec(4) 3% Lakey Foundry..... 14% Lefcourt Real(11.85) 17 4% 9 2201y 181y % 30 61 164 u28 5 13 9 5 10 6 2y 8 281 6 11 2 22 8 293 4 6u 4 28 1100 4 29 10 98 7 10 2 N 57 19 5z 1 1% 1108 194% 2 11 1 30 1 26% 15 124 wx wum menamanirantusumnen=2 aaa 4 9n Mavis Bottling. Mayflower Asso Memphis Nat Ga Mesta Mach (11. Met & Min, Inc(1 Met Chain Stores Mid Sts Pet v.t.e. Midland Stl P 2 Midvale Co (4).. Mo Kan P L (b10 Miss K P L v.te. Natl Amer Co. Natl Aviation. .. atl Fam Strs(1 Natl Investors. . Nat Sh Trm SecA Nebel Oscar 1% vet, Inc, cv A(1. ewberr: ing Pwr pf NJ Zine (12%). Newport Co (2). New Quincy M ( N ¥ Rio&Bu Alry Nlag Hud Pwr,A Niag Hud Pwr B Niag Shars Md (4 Niles-Bemn Nipissing (30c). Noth Euro Oil Nor Sta Pwr A(8 Ohto Copper. Ohto O1l (4). Paoc G&El 1stpf 1 Western Ol Pandem Ol Pantépec Oil. Pennroad Corp (2 Pa Water&Pwr(3 Peoples L&P, A a! Petrol Corp war. Pliney B F,n (20 Pitts & Lake Erje Pittogn korg (1.6 Plymouth O1l (2) Power Securities. Prince & Whitely Prudential invesi Radlo Products 1 Rallway & Lt S(1, ethon Mfg. . Repetii Candy. . Reynolds Inv, Roan Antelope Rochester Cent P Rocklans Lt&p(9 Rolis-Roy of Am Liossia Intl Corp. Royal Typewr (13 avoy Oil 5 Schulte Un be-$1 Seaboard Util (50, Seg Lock & H (5 Sel ind allot cfs b Select Ind pr(5% Service S L(A) 2. Snenandoah Corp, Silica Gel Ctf: Singer Mfg (t1 Smith (A O) (2). South Coast. Southern Corp. . Southland Roy (1 Standard Motors. Stand Oil, K'Y (1. Starrett Corp., Stein Cosmetics. Strauss Roth Sun Inv. . Sunrav O1l (40¢) Swift Internatl(2 Taggart Corp (1) Tampa Electrie ( Technicolor. Ine. Texon Ol & Ld (2 Thatcher Sec Cor Thermotd Co pf ( Transamer (11.60 Tran Con Alr Tra; Trans Lux DL P Tri-Cont Corp (w. Tri Utilities($1.2 ng-Sol Lamp « Ulen & Co (1.60) Unfon Am Invest, Union Tobacce Unitt Dry Docks United Gas Co. .. United Gas Co (n; United United U1d Lt & Pwr of ( Unit Rt Ch pt (3% USE v U 8 Foll (B) (1). U 8 & Intl Secur. U S&Intl Sec 1st U S Lines pf (1 U S & Overseas U S Shares Fin Utlity & Ind.. Utility Equitt Venezuela Petrol Walker (H) (1), Western Md pf.. Wil-Low Cafeter! Willfams R C(1.4 Winter (Benj). . RIGHTS Fireman's F I. Hud Bay M&S Ins Coof N A Intl Nickel w.i Lone Star Ga: Mo Kan Pipe ment videna, in cash or stock. b Mid Wst Util(b8%). Montecatini deb rts. atl Container pf(2) atl Fam S pf (2) Natl Fuel Gas (1) Natl Rub Mach (2). Natl Screen Sve(2). Natl Union Radlo. WI)PLCT). ng T & T (8).. Niag Hud Pwr(new) P (i2%). Noranda Mines (2).. No Am Aviat A war, orp, Olstocks, Litd A 1500 Oilstocks (B) ($50c). Pub Sve (1.30).. Param't Cab(b8%).. Parke Davis (11.55). Penn Blex Fuel )., Phillp Morris, Ine... Stand Pwr&Lt B (). Starrett Corp pf (3). Swift & Co new (2).. Tobacco & All Stks. . Tubsize Chatel (B).. ung-Sol L pf (3)... Ungerleider ¥ Corp.. United Corp (war).. Utd Founders(b2.35) United Gas (war)... apf (7)... s Corp ctfs Utd Lt & Pwr A(1).. U S Gypsum (1.60).. United Wall Paper. . Utility Pwr&Lt(al). Utl & Ind pf (1%).. Vacuum O11 (14%).. Van Camp Packing. . ) b .20) 1 L. 1 %). 1 60). 150 60) RN 1 O SN S 0 A 03 1 10 00 N TR o 89 30 b 2 0 o 2 e O e e 08 SR 82 (6) 20s 508 ., New Mex & ArizLd.. 1 Newmont Min (34)., 7 L 95 war war ve). . ) o = " BRA AR SN OON AN me s h .40 c). (5) 2608 0). Polymet Mfg (11). Prati&Lumbert(15). Premier Gold (24¢).. 1., Prince & Whit pf(3) Pub Ul Hold w w.. 5). Rainbow Lu Prod A. Rainbow Lu Prod B. eiter-koster (400). . Reliable Strs(b5%) . wr. z¢) pt. %) Ryan Consolidated. . St Regls Paper (1).. si! c) . Sec Corp Gen new (4) c) Selected Industrie; %, ). Sentry Safety Cont. 60) Shattuck Den Min Shenan Coro pf (a3). So Am Gold & Plat. . South Penn O11(f2%) So Cal Ed pf C (1%). S W Dairy Products. Spigel May S pf(6%) PL5). Stand Oil. Ind (2%). 80) %) 12) ©). Do 7). 9 & ® - G R RN O AR BN BNNE e O A KRR O e 15y m. . 8. ar) 0).. 2) a9 e ew) o PanonSemuonmantand 6). %) . « " m.. Vick Financtal Corp. Walgreen Co..... Walker Min (7%¢).. Watson (J W) Co... .. 0). Expire 3 July 16 .Oct 1 July 3 Junezb nd rates in dollars based on TPartly extrs 21% 2% 2% 14z 199% 1 4% 374 26 54 20 2% 142 38% 10% 3% 18 460 1993, 1w 4 37% 254 5t 10 4% 597 4% 1% 494 E3EN 54 18 334 7 14 13 5% 8% 313 20 67 40% | 134 3 16% 120 21 12 79 6 2% 7 34 9% 2 2 103 8% 14 OF UNFAVORABL TRADE NEWS NEARER The country is getting nearer to the | pessibilities favor a end of the spell of bad news which has | sibly to a level below that reached in pecn oppressing security markets for | December. weeks past, accordi) mire Economic Ses e, further: “We have been E to The | ing off. Carloadings are down. which | saying | modities continue to decline and are now taking what we believe to he zhrlr\ that business must elither continue 'final plunge. Present indications fayor August.” ‘The alternative sharp decline, pos- The steel industry is fall- Com- | around present levels for a number of |a bottom in business for July or | months or else take a sharp din to | lower levels, in which event it can start | back relatively sooner. U. S. TREASURY BAI:ANCE‘ The United States Treasury balance, announced today as of close of business June 19, was $328,932.513. Customs re ceipts for the month to ‘date were $55,- 966,821.98. Total ordinary expenditures, $16,261,358.30. Plans for developing th: South into a great agricultural, commercial and m-l dustrial dominion within the next 20 years by means of a program to be worked out by a council of Southern leaders in all iines of business activities were informally discussed by Dr. Bur- dette G. Lewis of Jacksonville, Fla., president of Foremost Dairy Products, Inc. Dr. Lewis is Florida chairman and other Southern States have leaders. Council does not hope for immediate results, but plans, through its research and recommended remedial policies, to help build up agricultural an indus- trial South during the next 20 years. Executive committee will meet again within a few weeks to form committees to take up different phases of work. Conference of governors and textile magnates called by Gov. O. Max Gard- ner of North Carolina, last Spring, will be asked to merge with the new council in studying needs of textile industry of the South. In outlining purposes of the council, Dr. Lewis recalled work of a similar body formed in the New England States six “years ago. He said that farmers, railroad heads and textile manufac- turers there pooled their information and resources to improve general bus ness conditions, with astonishingly suc- cessful results. Council of 70 members found that New England textile ma- chinery was out-of-date, that power rates necded to be lowered, railways needed certain changes, farmers needed to take up apple growing and dairying. During six years since the council has been at work, business and agriculture have been placed on a higher plane in those States, he said. CHICAGO STOCK MARKET 50 Abbott Lab 530 Acme Steel 150 Adams Mfg 50 Alnsworth Mg 100 Aliied, Mot Tn: 50 Am Colortype 20 Am Pub Ser pc 20'Am Pub Util p 1' 35 Am Pub Util pfd . 500 Am Radio .. ... 1000 Assoc T & T A 250 Assoc Tel Util 50 Assoc Inv .. 100 Atlas_Stores 530 Auburn Auto . 0 Benaix Aviat 2600 Borg Warner 50 Brach & Sons 100 Bright Star B 550 Butier Bros 50 Castle A M... 50 Ceco Mfg . 5 37 Cent 11l Pub ‘Sar .. 230 Cent il Sec... ¢ 300 Cent. Pub Serv A 1400 Cent & S West 50 Cent & S W pl 6600 Chic Corp.. 1450 Chic Corp pi Investors Invest pf 3B% 50 Service. 50 Club_ Alum : 100 Com'with Edison 150 Constiuct Mat pf. 300 Consumers 5 300 Consumers 30 Cont Chicago. 1250 Cont Chic pf 1500 Cord Corp. . 4800 Corp Sec 1250 Corp _Sec cifs. 61 Crane Co s 10 Diversified Tnv.. 100 Duquesne Gas_ 1100 Elec Household 300 Elec Research 1150 Foote G & Mach 100 Gen Candy Corp . 50 Gen Thea Eq .. 450 Gen Wat Wks A 350 Gleaner ... 200 Gt Lakes ‘Aircra 10 Gt Lakes Dredge . 150 Greyhound ... 14030 Grigsby-Grunow 100 Hall Print 200 Hart-Carter . 100 Hormel & Co. 300 Houdaille-Her 550 Houdaille-Her B 58 11 North Util. . 100 Ind Ter Tilum Ofl 3400 Iniand Util.. 7000 Insull_Util 100 Iron Firem: 600 Jefferson Elec 50 Katz Drug 50 Kellogg Swifch. 250 KenRad T & L. . 200 Keystone Steel. 100 Lane Drug vic.. 550 Libby-McNeil 300 Lincoln Print 1100 Lion Ol Ref.. 150 Lynch ' Glass. 1}" ] 16100 Majestic Hoise ‘Ui 300 Manhat Dearborn. .. 100 Marsnall Field 200 McGraw Elec 100 Meadows Mg 200 Merch & Mfrs A 30900 Mid- West Uil 50 Mid W Ut 6s pfd A. 100 Mid W Ut A war... 150 Mid ‘W UL B war, .. 700 Miglond Nat Gas A.. 900 Midland “United 3350 Midland rts ... 750 Midland Unit’ pf. 200 Midland Unit war 10Mid Ut 7s A pid 38Mid Ut 6s p d . 110 Mid_Ut 7s p 1 2050 Mo-Kan Pipe 2100 Mo Kan rte 500 Modine .. 50 Muskegon A.. 50 Nat Secur Inv. 100 Nat T 450 Nat U 900 Nobliit-Sparks 450 North Am Car g Bancorp 50 No West Eng 10 No West Ut 7% 50 Ontario Mg 100 Parker_Pen 500 Pines Winter 100 Polymet ... 20 Public Serv n p. 350Q R S Music 10 Quaker Oats 33 1450 Seaboard Uti 614 10 So West G & Eiec pf 971 700 Steinite Radio 11 150 Ston, 50 Thompron (J Ri . 250 Transformer 100 Transformer ris 50 Twelfth St war . 850 Twin 8t Nat Gas 100 Unit Corp ...... 50 Un Am Util' A 100U S Gypsum 200 U 8 Radio & Tel 100 Utah Radio s 50 Util Pow & L nvot 750 Util & Ind 400 Utl & Ind pf.. 150 Vortex Cup 75 West P L & Tel 200 Wextark ‘Radio. 2350 Wis Bank Shrs. ...l 1850 Zenith Radio. . 8y Stock sales today, 180,000 shares. BONDS. 3000 Albua N G 645 '40. 100%: 100'% 122000 Insull 6 40 10078 997, Bond sales today, $125,000. International Salt Co. NEW YORK, June 21 (#.—Common stock of the International Salt Co. will be quoted ex-rights on the New York Stock Exchange on June 30, and the rights will be admitted to trading on that date. Rights must be settled on July 8 and will expire July 21. SHORT-TERM SECURITIES, (Reported by J & W. SBeligman & Co.) Aske Allis-Chalmers Co. 55 1937, fo5¢ American Tel. & Tel. 8lox i943. 108 Americar, Thiead 515 1938.... 10012 Baltimore & Ohio 4':x 1933 . 10013 Batavian Pet. Corp. 4'4s 1043, 9431 Bell Tel. of Canada 5s 1957., . 10314 Celifornia Pet. Corp. 51,5 1938 10213 Canadian Nor. Rwy. 41.8 19 9%y Chicago Rock Tsland 4s1934. .. 981y Chile Copper Co. 55 1047 : Cudahy Packing Co. 8'ss 1937 Gen. Mot, Accep. Corp. 6s 1937 General Pet. Corp. 55 1940 ... Gen Theaters Equip.' g 19400 Goodyear T & R, 55 1957... Grand Trunk of Canada 65 1936 Gulf Oil of Pa. 55 1937 Humble Oil 5iis 1932 Internat. Match Corp. 551947 N. ¥, Chi. & 8t. Loils 6s 1933 Peop.'Gas. Lt. & Coke 4125 1030 Philiips Pet. o S5iss 1939 Pure Otl Corp. 51:s 1937 "1 Shel: Union Ol Co. 5s 1947 Sinclair Crude Oil Co. 5153 Standard Oll N. Jersey Standard Oil N. York 4! St. L., Ir. Mt. & 80. R: St. L. Southwestern Ry Swifi'& Co. 5¢ 1832 : § Union Ol Co. of Calif. 38 1935 United Druz Co. 8s 1053....... U. 8. Rubber 85 1947.. .. 3 Western Electric Co. 8s 1044 " Wheeling Steel Corp. 51,5 1048 0215 Wheeling Steel Corp. 4'2s 1953. 207 @ GAS FIELD. < OlL FIELD PRODUCING GAS| —— NATURAL GAS LINES —-PROPOSED LINES How natural gas is piped hundreds By the Assoclated Press. : | A new competitor to the fuels that turn the wheels of American industry |15 boginning to find its way to the door- | steps of the country's factorles. It is | natural gas | Five years ago a pipe line 100 miles | ylong was considered an achievement. | (Toda,\' there are several 500 miles Sn‘ {length, and one “spanning 900 miles | from the gas fields of the Texas Pan- | handle to the teeming industrial district | of Chicago is contemplated. New Sources of Supply. The discovery of new sources of sup- | ply for natural gas and new uses for it | at a time when the necessary capital | and engineering ability were available | to build the lines is the reason for the sudden development in delivering | the fuel, says G. R. Hopkins of (h(’i United States Bureau of Mines. He | predicts continued expansion. | Twenty-four States now produce nat- | ural gas in commercial quantities. 1 There is a great concentration in | Ohin, West Virginia and Pennsylvania, where the fuel has been used by indus- | use all over the United States is shown in above map. | These are the last figures compiled. ey of miles for industrial and household try and householders for years, but the fields of potential development lie in the Southwest, where the fuel is taken out of the ground both as “dry gas” and as_a by-product of oil wells. The Monroe field in Louisiana, where | oil is not produced; the Texas Panhan- dle and the Lea, N. Mex., field are three of the largest gas reserves. A pipe line from the Monroe field to Atlanta has been_constructed at a cost of be- tween $15,000,000 and $25,000,000. Gas Recoverable. The amount of gas recoverable in the Panhandle Hopkins says, is estimated at between 4,000,000,000,000 and 8,000, 000,000,000 cubic feet; in the Monroe field, 2,200,000,000,000 'cubic feet. The Lea field is deemed capable of supplying El Paso and vicinity for 35 years. Natural gas consumed in 1928, in- cluding that piped to Canada and Mex- ico, was valued at $363,726,000 and to- taled about 700,000,000,000 cubic feet. Hopkins sces natural gas competing with coal, coke, wood, manufactured gas, electricity and oil in the industrial field. MANY ISSUES SHOW B INCOME YIELD Common Stocks Have De-| clined to Point Where Returns Are Large. Special Dispatch to The Star. NEW YORK, June 21.—A score of | common stocks, the permanency of | whose dividends is undisputed, now show an average income return’ today of about 5'z per cent. This compares | with a yield of a little over 4 per cent | for the same shares when the market was at its high level in April. | ‘The return on an even larger group of stocks, about which there has been | no question of ability to continue pay- | ments at the existing rates, has gone | up relatively more. There are, in addi- | tion, many issues that are selling at| returns based on possible dividend re- ductions that exceed their yields, meas- | ured by dividends paid when their quo- tations figured in the high average price of all stocks three months ago. | Yields in Boom Days. | At the height of the market boom last September the average yield from dividends on a group of 90 industrials rails and public utilities was well below 3 per cent. The smallest average re- turn was that of thé public utilities, which was less than 134 per cent. This | included a number of popular issues that had been advanced from 40 to 60 | times earnings without producing a great deal in the way of cash return to their shareholders. Some paid 1 and 2 per cent, others nothing. The dis-| crepancy between price and return, | | which has continued into this year, has | been one of the causes of the recent | heavy deflation in market values of power and light issues. After the break in November, the same stocks that were yielding less than 3 per cent could have been bought to return better than 4!; per cent. This change, to the advantage of the indi- | vidual ‘'who is interested in securities primarily for their yleld, influenced | heavy investment buying and the with- | drawal from the market in the next! few months of the largest amount of | stocks ever recorded in Wall Street | history for a similar period. | The situation today, with respect the | income yield on high-grade stocks and alon those that belong in the category of second-rate issues, is not unlike | that of last November. The rapid de- | cline in prices of stocks with an un- broken dividend record for years has | brought them back to where the in- | vestor is willing to buy them, after | showing a strong prejudice against | them when they were at their previous | low income levels. This is always one | of the most certaln signs of an ap- | proaching change in the course of & market that has been declining over a | long period. Interest Payments. The July 1 dividend and interest payments are expected to show a total nearly as large as that of a year ago, for o date dividends have been in- creased or initial dividends paid in greater numbers than dividends re- duced or omitted. The record in the next quarter may not be so good, for| then the effect of nearly a year of business reaction will be more positive. Quite a few of the long-established | and widely-held dividend-paying stocks | have improved their yvield in the last three months more than the average yield increase. In fact, a conspicuous feature of the recent decline has been its violence in the so-called investment class of shares. Among these there are a large number that today could be purchased between a 5 per cent and & 6 per cent basis, and in exceptional cases | they return between 6 and 7 per cent. And this at a time when it is difficult | to lend call money at 215 per cent, and | loans running for 60 to 90 days are| quoted around 3 per cent, and to the| end of this year at 314 per cent. (Copyright, 1930.) TREASURY CERTIFICATES. (Reported by J. & W. Seligman & Co.x Maturity Bid 15, 1930 . 100 8-32 15, 1930 2 1031 1032 19331 1933 STOCK 100 23 5, 2 5, .710021-32 100 23-32 SATURDAY, 50 Industrials, Today .... Previous day.... Week ago.. Year ago. Two yea Three years ago, weekly aver. . 120.0 High (1930).. Low (1930).. * New 1930 lows. Previous day. Week ago.... Year ago. Two years Three years age High (1930). Low (1930) | enced by crops of wheat in all of the | world's grain-growing belts—the United AND BOND AVERAGES By the Assoclated Press. STOCKS. NEW WHEAT CROP TOBE SOLD SOON July Will Mark Movement of Grain Toward World Markets. BY WALTER BROWN. Written for the Associated Press. CHICAGO, June 21.—A new year of wheat trading is at hand in this great- est of wheat-trading centers, now sharing the spotlight with the South- western grain belt and the Liverpool market. July is the first month of the wheat year because it is the first month in which is & new crop of American-grown wheat begins to move toward the mar- kets. Chicago long has held a dominant position in wheat trading, largely be- cause it is the great futures trading market of the world. Its cash sales also are comparable with those of Kansas City, gateway to the country's granary district, and Minneapolis, the flour-milling center. Sale of Surplus. Liverpool now bulks large in the wheat picture, because it is the import | mouth for Europe. Its absorption of the surplus from America is directly reflected in wheat prices®in the United | States. Exporters have advised the In- | terstate Commerce Commission, in rail- | way rate hearings, that the dumping of this surplus is the ail-important factor in determing domestic prices. Says a_current market letter from a Chicago brokerage house: “The English market now seems to be playing a stellar role in the estab- lishment of daily prices of wheat throughout the world, its action being | watched with an interest and concern | never before so fully exhibited by other | markets. This situation. of course, is the result of large suppiies of the old crop and prospects for an average new | crop in North America, which has caused forelgn buyers to assume a present attitude of the greatest assur- ance and independence.” This new wheat-trading vear finds the dealers in a new home, the magnifi- | cent 44-story Board of Trade Building, | recently opened. And this new crop year will find a | new factor in the trade—co-operative | agencies of farmers financed by the Federal Farm Board. While they have been functioning for several month: i July will be the first time they have | entered upon a full year of trading. | Chicago became a wheat-trading | center in the early days of the Lake Michigan community’s incorporatlon, In 1837, a year after the town received | legal recognition, 82 merchants organ- | Plan Started 72 Years Ago. One hundred and fifty thousand stores, transacting one-tenth of the, country's total annual retail business of $50,000,000,000, are identified with, 6,000 chalns at present in operation, according to “Chain Store Statistics prepared for distribution by Merrill; Lynch & Co. and E. A. Pierce & Co. In practice abroad about 400 yearx previously, the chain store idea had its inception in the United States M]SB. the booklet declares. “For periods of several years after their inception, the chains grew sio ly because their progress was limited- to the extent that the reinvestment of surplus earnings permitted,” the book- let continues, “This growth was sound, however, and it established a solid" background for a development which, in the course of the last 20 years, has. increased the total volume done by re- tail chains from less than half a bil- lion to over five billion dollars, > “The establishment of a great Atlan- tic & Pacific grocery store 72 years ago proved to be the beginning of what has grown to be one of the ranking® industries of the world, comprising practically every class of retail busi-* ness. In 1879, or 21 years later, the first unit of another one of our great retail institutions of today was founded by the late Frank W. Woolworth. In the ensuing 25-year period numerous other businesss were started which., have since grown to be great chain store organizations. & “These included McCrory and Kroger, founded in 1882; Childs, in 1889; Mel ville and Kinney, in 1894; S. H. Kress, in 1896; Kresge, in 1897; Shattuck, in 1898; National Tea, in 1899; Daniel, Reeves, in 1900; Lane Bryant, in 1901, and Penney and Walgreen, in 1002, The origin of First National Stores dates back to 1895. The growth of Safeway Stores and the organfzation’ of the MacMarr chain have been standing developments of recent ye: The booklet contains a three-year record of operations of 79 chain store_ companies and other facts of interest to investors HIGH TARIFF PROTEST IS MADE BY JAPANESE’ By the Associated Press. . GENEVA, June 21.—A protest against “unreasonably high special tariffs” which he said were seriously injuring' Japan was uttered here by Buntske Kurimoto, delegate for Japanese em- ployers at the international labor con- ference. Apparently alluding to the United« States, Kurimoto complained of curtail-" ment our most vitally importante exports,” and added, “Never before have- we experienced such a severe blow,, dealt by a country on whom we have- confidently depended and for whom we have felt a deep friendship.” - The Japanese delegate pleaded for- economic disarmament through the, lowering of tariff barriers, which he*> sald would b2 more effective in pro- moting world peace than military ands naval disarmament. ? Markets at a Glance NEW_ YORK, June 21 (&).—Stocks weak; U. S. Steel and other\ leaders, touch new 1930 lows. Bonds iriggulary¥ | prime rails and_ utilities improve. \Curby weak; Electric Bond & Share breal new low. Foreign exchanges eas: Spanish peseta drops several pointsw Cotton declined: lower cables and weak~ stock market. Sugar, holiday. Coffee., holiday. . tos WEEKLY CLEARINGS ' Again this week bank clearings for. leading cities of the United States show a moderate expansion as a result of the Jarger figures of New York City. Aggre=. gate clearings, as reported to Dun's Review, were $12,615,528,000, or 3.6 per~ cent more than the amount for a year: ago. The increase at New York Oity- was 8.2 per cent, the total for this cens. ter being $8,958,000.000. At outsides cities, on the other hand, this week's clearings of $3,657,528,000 were 5.8 per. cent less than those of the correspond- ing period of 1929. Decreases again, largely predominated but a small rise, occurred at Boston and there were larger gains at Richmond, Louisville, and New Orleans. Bank clearings for this week are coma« pared herewith with those of a year, ago: - Per' cent. 08 Week June 19. 1930, Boston ..... 349,000,000 Philadelphia Baltimore Pittsburgh Buffalo Chicago ", Detroit Cleveland Cincinnat St. Louis Kansas City 102,926.01 201.068.000 60, cp ized the Board of Trade. There now | are 1,586 members. Tmportance of Market. The importance of the Chicago futures market is seen in the enormous volume of sales. For July of the 1928-29 wheat year 929,000,000 bushels changed hands here. For August, 919.000.000 September, 628.000,000: October, 714, 000,000: November, 542,000,000: Decem. ber, 417,000,000: January, 909.000,000 February, 743,000.00 March, 905.000.000 April, 1.106,000.000; May, 1,040.000,000; | June, 1,151,000,000—a total of 9,907.- 000.000. The total futures trade in the United States for that year was 12,195, 000.000. In 1924-25 the futures sales in | Chicago reached 16,587,000,000 bushels, | Futures contracts chiefly are divided into July September, December, March | and May delivere: They are influ- | States, NEW YORK, June 21 (4).--Employ- ment in 51 major Toledo, Ohio, plants, mainly automotive, totaled 24,460 for the week ended June 20, a decrease of 473 from the preceding week. Statistics for the like week last ycar showed 40,969 employed. JUNE 21, | Louist lie 2o o3 3250, New Orle Dallas San Francisco Los Angcles Portland 56.536.000 42.095.000 204,100,000 203.700.700 39.611.000 44315000 57.528,000 958,000,000 615,528,000 Total all , B ol 22l HosniToRaeeanol Suke ness Notes | By the Assoclated Press NEW YORK, June 21. — Angld~" Chilean Consolidated Nitrate Corpora- tion has ordered from the South Ches- ter Tube Co. 73,000 feet of four-inch black steel pipe and a large schedule of galvanized iron pipe to be used in construction of the new Chilean nitrate plant of the Lautaro Nitrate Co, Elias Mayer, president of the General American Tank Car Corporation, an- nounced that the corporation is now producing for the aeronautics divisiof of the United States Navy specia] tank cars for transportation of helium gag: Delivery of the first unit is scheduled for late in August or early in Septem ber, and the cars will be used to trans? port the gas from the Amarillo, Tex.. fleld to the naval air base at Lakes hurst, N. J. . BALTIMORE STOCKS. Special Dispatch to The Star. BALTIMORE, June 21.— Sales STOCKS. 308 Arundel Gorporation 15 Baltimore Trust Co 113 Black & Decker com 20 Consolidated Gas 5s cum pfd A. 21 Eastern Rolling Mills com...... 100 Emerson Bromo-Seltzer A com.. 5 Fidelity & Guar Fire Corp 100 Finance Co of America 30 First National Bank 20 Houston Ol pfd......... 190 Maryland " Casuaity ' Go. 20 Mig Bond & Title Corp com.. 20 Merchants & Miners' Trans 37 15 ¥ i Fidelity & Guaranty. B & A Railway com. " B & A Railway pfd BONDS. United Rwy & Elect 1st 4s. Jeffre Statue Unveiled. CHANTILLY, France, June 21 (@)« A statue of Marshal Joffre commemo- rating his presence here with the French general staff during the first years of the World War was unveiled today. Presiden! Doumergue and other notables attended. -