Evening Star Newspaper, June 24, 1930, Page 14

A—14 wex FINANCIAL, EASYMONEY S JOBS BUSINESS AD Finaneial Leaders Hope Re- neovery in Industry Will Be Hastened. BY DONALD C. BOLLES, Associated Press Financial Writer. NEW YORK, June 24 —Scanning the | business horizon of the world for signs | of recovery from the current state of re- cession, American financial and indus- | trial circles are hopeful that the easy conditions in the American money mar- | ket may help to bolster the purchasing power of its foreign customers. Indissolubly linked with the present | day prosperity of the Nation, the trend of foreign trade has continued steadily downward since last Fall, and in May exports reached the smallest proportions in several years, bringing the loss for the five months of 193 to about $900,- 000,000 as compared with the like period in the previous year. Just as the dearth of American capi- tal available for foreign investment dur- ing the bull stock market adversely af- fected the purchasing power of potential buyers of American goods, so the easing of money rates are expected to revert attention to foreign investments. Foreign Exchange. Some close fcllowers of world trade say they expect a definite upturn in foreign trade to set in when foreign exchange 1s again boistered by flotation of foreign loans in the American money market. Last year the volume of foreign securties offered in the United States! dropped to $700,000,000, the smallest | since 1923, and far below the bllllon-i dollar average maintained in recent years Establishment of the rediscount rate of the New York Federal Reserve Bank at 2!5 per cent last week has been ac- cepted in financial circles as assurance that the cheapest money rates in many years will continue for many months, and should help strengthen the bend market in which most foreign invest- ments are floated. Bond men anticipate a large increase in foreign offerings if the easy credit injects new vitality into the market for fixed interest-bearing securities. An encouraging sign of the business relations of the Unitsd States with the rest of the world, as viewed by the Na- tional Foreign Trade Council, is the fact that the demand for finished products of American factories has been the least affected by the worldwide depression. The sale of finished products now constitutes the largest it-m in the Na- tion's foreign trade, totaling about $2 520,000,000 last year, to outstrip ra: g:c‘ducu. and reports to the Foreign de Council indicate that the reduc- tion of sales has becn comparatively #mall. It is expected that the closz of the ficcal year the end of this month will show only 2 or 3 per cent reduction from the previous year, the gains the first part of the year offsetting the loss in the last half. ‘The importance of the sale of finished products abroad to American industry is emphasized by the fact that about 30,- 000 of the 197,000 American manufa turies now depend upon foreign mar- kets as an outlet for a part of their product. For many it represents about 10 per cent of their production and constitutes the difference between breaking even and making a profit. Some export 25 per cent. American Goods Needed. The reason for the stability of the foreign market for American manufac- tured goods is attributed largely to the fact that the United States manufac- urer has less competition thi the grower of wheat or cotton and the de- mand for his product is less affected by economic conditions. Foreign coun- tries which have embarksd upon a pro- gram of industrialization need' Ameri- can machinery for their factories, as do governments and municipalities in car- Tying out road bullding and other pub- lic improvement programs. Observers of foreign trade also are ‘watching closely the efforts to adjust production of raw products to world needs and dispose of the surplus which has largely contributed to the decrease in purchasing power both here and “mbroad. The destiny of commodity prices is Wrapped up in a proper balance being maintained between production and Large stocks have de- flated the price of sugar and cocoa to Where they are selling below cost of pro- duction and much coffee is being pro- duced under the same circumstances. Cotten., grain and rubber are other com- modities which have declined in recent Weeks to low levels adversely affecting the buying power of millions. Economists have stated that stocks of important groups of commodities al- lowed to accumulate are so great that their liquidation will take many months to establish a proper balance, even if production is sharply curtafled and consumption increased to the high rate of 1928. Efforts to stem overprodue- tion have been made in many lines this year, but their effect has not yet been *FRuch ain ¢ ucl erence of opinion exists as to what will be the effect of the Hawley- Smoot_tariff bill. So far there have been few conclusive indications that other nations plan reprisals, save per- haps Canada. Nations have protested, but so far have confi t byt ned their activity PROPOSED AIR MERGER TERMS ARE RATIFIED Bpecial Dispatch to The Star. BALTIMORE, June 24.—Stockhold- ers of the Berliner-Joyce Aircraft Cor- poration yesterday ratified the terms of an agreement whereby the company will come under the control of the North American Aviation Co., a large holding organization of New York. More than 85 per cent of the stock of both classes voting were cast in favor of the merger. The terms of the agreement, as an- nounced recently. call for the forma- tion of a new company and the is- suance of stock of this new company to stockholders of the Berliner-Joyce Co. It is understood the stockholders of the North American Aviation Corpora- tion will hold their meeting to pass on the kdell some time this week in New York. The North American Aviation Cor- poration had assets at the end of 1929 in excess of $27,000,000. In addition to a substantial interest in the shares of Curtiss-Wright and in Transconti- nental Air Transport it owns & number of smaller concerns. NEW SECURITIES NEW YORK, June 24 () —New se- curities offered today include: Westchester Count: Y., $1,975.000 2.73 per cent certifica to yield 2.50 per cent, by Barr Bros. & Co. State of Tennessee, $500,000 4'2 per cent bonds to yield 4.20 per cent, by Kean, Taylor & Co. and syndicate. .COAL PRODUCTION. By the Associated Press. - Bituminous coal producti in_the week ended June 14 dccrn?;v‘:l 135,000 tons, or 1.7 per cent, as compared with the previous week. The decline over the corresponding period of last year ‘was more marked, aggregating 1,415,000 tons. Output for the comparable periods is | negotiations are under way for addi- given as foliows by the Bureau of | tional properties Mines: Weed ended June 14, 8,016,000 tons. Previous week, 8,151,000 tons. Bame week last year, 9,431,000 tons. ——— Pr ting by aeroplane for gold o gl b, &ghly successful. | and idleness, be in Stock and te. 15% Manati Sugar pf. ... 24!% Man Elev mod g (d5) 84 Man Elee Supply.... 24% 121 Man Shirt (2). 30% 10% Marmon Mot (h50c). 484 3614 Marshall Field (23) 51% 33 hi 61% 42% May 23 13% Mavtax Co (12). 10 Mengel Co (2). 174 Mex Petrolm (132). 164 Mexican Seaboard 33% 15 Miami Copper ¢4)... 77 53 Michigan Stl (h213), 33 22% Mid-Cont Petm 12).. 21 7 Middle States Ofl et. 53 24 Midiand Sreel (3). .. 110 87 Midland Steel pf (8). 28% 124 Minn Moline Pwr, .. 2% 1'% Minn & St Loufs f6% 35 Mo Kan & Tex (1)... 108% 984 Mo Kan & Tex pf(7). 98l: 634 Missour: Pacifie..... 145'; 119% Missourt Pac pf (5 40 18 Mohawk Carpet. ... 63% 354 Monsanto Ch (g1%). 23 Montgom Ward (3). 3% Moon Motors....... 6 81% Morris&Essex (3%) 20s 1t Mother Lode (20c). . 3% Motor Meter G & Kl.. 341; Motor Products (2).. 21 Motor Whee) (3) 8 Mullins Mfg....... 40, Munsingwear (t4) 124 Murray (bz%stk)... 35% Myer(FE) & Bro(2). 30% Nash Motors (6; 11 Nat Acme (1% 9% Natl Bella Hes .. 71 Natl Biscult, n(2.80) 14215 Natl Biscuit pf (7). . 48 Nati Cash Reg.A(14) 45 Natl Dalry (32). 27 Natl Distillers (2) 4 125 Natl Lead ¢48)...... 15 1381 Natl Lead pf(A) (7) 150s 116 Natl Lead pf(B) (6). 508 32 Natl Pwr & Lt(1)... 116 69% Natl Surety (5) 8 24 Natl Tea Co (2). 15% Nevada Copper (114) 3813 N Y Alrbrake (3.60) 155 N Y Central (8) 95 N Y Chi & StL ( 178% N Y & Harlem (5)... 17% N Y Invest (1.20). 103% N Y N H & Hart (6). 116 NYNH&HDpf (7)., 815 N Y Ont & Western. . 1% N Y Ratlways p 100 N Y Steam pt (6).... 110 N Y Steam 1st pf (7) 013 Norf & Western (10) 83 Norfolk & Wn pf (4). 7% North Am Aviation. 93% North Am(b10%stk) 51 North Amer pf (3)... 45 No Ger Lloyd (3.43). 71 Northern Pacific (5). 67% North Pacific ct (5).. 9% Ofl Well Supply..... 13% Oliver Farm Equip 70 Oliv FrEqpf A (6)., 27 Oliv Fr Eqgev pt(3).. 36 Oppenhm Collins (5) 55 Otls Elev. n(2%) 26% Otls Steel (23) 45% Owens,Il] Glass . 52'¢ Pacific Gas & E1 (2). 42 107% 72 Pacific Lizhting (3). 10 777 178 130 Pacific Tel &Tel (7). 100s 133 23% 12% Packard Motor (1).. 80 67% 504 Pan-Am Petm (B)... 7% 48% Param’'nt Publix (4), 19 Park & Tilford (33).. 1% Park Utah, 9 Parmeles 2% Pathe Exchange..... 5 Pathe Exchange (A). 17 Patino Mines. ..... 26% Penick & Ford (1). 48 Penney (J C) (3) 6% Penn Dixia Cement, 70 Penna R R (4). 60'% 45% Peop Drug Strs(1) 325 230 Peopie's Gas, Chi (3) 1645 130 Pere Marquette (13), 01 94% Pere Margq pr pf (5).. 2 27% 19 Petrol Corp (1%). 29% Phelps Dodge (3) Sales— 308 16 401, 5% 607 4% 8% Philip Morris (1)... 20 Phillips-Jones Corp. 2644 Phillips Petrm (n2).. 20% Plerce-Arrow (A)... 2% Plerce Petroleum. ... 40 Pirelli, Italy (23.14). 17% Pittsbgh Screw 1.40. 96 Pitts Steel pf (7).... 1 20% Pittston Co (37%e).. 20% Poor & Co (B) (2)... i2 P Rican Am To (B).. 93 Postal Tel & C pt(7) 6% Prod & Refine: . £1% Pub Serv.N J (3.40). 91% Pub Serv N J pf (5).. 106% Pub Serv N J pf (6)., 143 Pub Serv N J pf (8).. 62% Pullman Corp (4). 1% Punta Alegre Sugai 19% Pure Ol (1%)...... Raybestos Man 2.60. Reading Rwy (4). Real Silk Hos pf(1 Rem Rand (1.60) Rensselaer & Sar 8'4 Reo Motor Car (80c) 37% Republic Steel (4). .. 89 Republic Steel pf (6) 100 23 Reynolds Metls 2.40. 70 Reynolds Tob A (3).100s 45% Reynolds Tob B (3). 38% Ritter Dent Mfg (13 27% Rossia Insur (2.20).. 49% Roy Dutch (al.3415). y (e8). 11 Safeway pf (6)..... 170; 33% St Joseph Lead (13). 97 8t L-San Fran (8 92 St L-San Fran pf (8) 57% St L Soutnwestern. ., 16 Savage Arms (2).... 4% Schulte Retall Stri 6 Seaboard Air Line 9% Seagzrave (e1.20). 65 Sears Roebuck(32%) 8 Second Natl Inv 6% Servel. Ire 16% Sharon Ste Recelved by Priva‘e (Continued From Page 13.) Add 6. High. Low. Close. Close. 5 25 T 9% Revere C&B pf (7).. 10s 1003 40 27% T0% 41 48% 46 51% 9% 97% THE EVENING STAR. WASHINGY N, D, L., TunsiAY, 24, 1930, S - NEW YORK STOCK EXCHANGE # Wire Direet to The Star Office. Prev, 15% 25 Sincl - s 13124 13% 1% 331 98y 611 20% Stand G Stand O 4 Stone & Studebaker Corp (4). Stock and Dividend Rate. Sharp & Dohme. .... Shattuck(FG)(t1%) Shell Union (1.40)... Shell Un Ofl pf (5%) Shubert Theatres. Simmons Co (3 Stmms Petrm ( Stnclair Con Of1 (2 r O1l pf (8) Skelly O1l (2) 1y Oil pf(6). Solvay Am pf(5%) Sou Porto Sug (1.40) Southern Cal Ed (2). Southern Pacific (6. Southern Rwy (8)... 160 Southern Rwy pf (5) 6 Spalding (AG) (2).. 1 Spang-Chalfant. 3 Sparks Withngtn(1). 17 Spencer Kelg (1.60).. 2 Spicer M1x. 6 Splegel- 3 Stand Branas (13%).. 161 4 1 3 3 1 1 3 Sales— Ad4 00. High. 3 165 343, 195 6 1 3 May-S (3). | Stand Brands pf (7 Stand Comm Tob. . &E(3%)... Stand G & E pf (4).., 2 Stand Gas& El pf(§). Stand Gas&El pf (7). Stand Invest Corp. of Cal (2%4). Stand O11 Exp pf(5).. Stand Oil of Kan (2) Stand Ol of N J(12). 469 Stand OIl N Y (1.60). 12 % Stand Plate Glass. .. Stand Plate Glass pf 700s Stanley Co of Am. .. 7% Starrett (LS) (12%) Sterling Sec (A). Sterling Sec pf(1. Sterling Sec ev pf(3) Stewart- 7 1 1 20s 8 2 12 arner (1). 25 Webster (4). 100 19 Submarine Boat. Sun Ol bf (6) Superheater (13 1z Superior O1l. . Superior Ste Timken Und-E}l. VaEl& Va Bl & Warner Warren Warren Weston 18% Ches & Dividend r. payments basei 61y e 18% 18% 18% | D5V Mook Warner-Quinlan (1). Webster-Eisenlohr. . i Webster-Eisenlohr p! 10g Wess o1l & Snow (2). Wess O &Sn pf (4).. West Penn E1 A (7). % West Penn Pw pf(6).260; Penn Pw pf(7). 508 tern Union (8).. Westhse E&M pf (5) 110s # DuPontdeN..July 15 194 1% Hackensk V s on the ing less than 1t Sweets of Amer (1) Symington. .. Telaut Corp (11.30) ‘Tenn Cop & Ch (1). Texas Corp (3)...... 2! Tex Gulf Sulphur(4) 62 Texas PC&Ofl.... Texas Pac Land Tr. Thatcher Mfg (1.60), Thatcher pf (3.60)..; The Fair (2.40) Thermold Co (2). Third Nat Inv (2). Thompson (J R) (3). Thompson Prod(2.40° Thompson Starrett Tide Water As (60c 2 Timken Det Ax(80c) o 1 . 13 Roller (3) Tobacco Products. ‘Transcontl Oil (30¢). Tri-Contl Corp. . Tri-Cntl Corp pt (6) Truscon Stl (1.20).. -Fischer (5). % Union Bag & Paper. . Union Carbide (2.60) 249 Union Oil of Cal (32) Unlon Pacific (10). Union Pacific pf (4).. Union T'k Car (1.60). Utd Atrcraft. .. Utd Alrcraft pf (3) Utd Biscuit (1.60). % Utd Carbon (2 Utd Cigar Store CUtd Corporation. United Corp pf (3).. Utd Electric Coal, Utd Fruit (4).. . Utd Gas & Imp(1.20) 123 Utd Gas & Imp p£(5). Utd Store (A)...v 1 2 3 56 14 3 1 Leather (A)..... Leather pr pf(7). Plpe & F (2). Realty (5). Univ Leaf Tob (3)... Univ Pipe & Rad. Utll Pwr&Lt A Vadasco Sales Corp. Vanadium Stl (14).. 1141 Va-Caro Chem 6% pt 1 Pwr pf (6).. 205 Pwr pt (7) Vulcan Det (4) Wabash Waldorf Walworth Co Ward Baking (B).... Ward Baking pf (7). ( @) Bros Pio (4).1955 8 Bros (3). 0 Fdy & P (2). 2 1 4 605 s | market did not reflect it. 19 4£B(2). 23 E&M (5) 434 1341 1331% Ellnstr (1). 9 Westvaco Chlor (2).. White Motors (2)... White Rek MS(14%) White Sewing Mach.. Willys-Overland Wilson & Co (A) Woolworth (2.40). Worth Pump. . Wrigley (Wm) 4 Youngs Spring Zenith Radio. . RIGHTS EXPIRE Am Tel & Tel.Aug 1 408 8le 17 18% 5 Ohijo..July 23 27 18% July 118008 307.500 1 1,541,900 iven in the above table are Iatest quarterly or half vearly 00 shares. " tParuy excra s 1% 1 035,400 ‘Wall Street Briefs By the Associated Press. The National Metal Exchange has approved amendments to the by-laws involving a new copper contract, under which the basic grade for trading in futures will be rough or blister copper assaying 98 per cent or better. Trading under the new contract will begn at noon July 1, but no trades specifying delivery in any month prior to August will be made.. Trading under the old contract will stop June 30. Sev- eral other grades also may, at the option of the seller, be tendered at vari- ous premiums or discounts. Millard F. Cheek, president of Municipal Telephone & Utilities Co. | announced acquisition of a group of independent telephone properties which will form the nucleus for a new sub- sidiary to be known as Southern Kansas i Utilities Co. The properties just ac- quired serve a group of towns adjacent {to Wichita and Hutchinson and in- ; clude more than 1,100 stations and 112 miles of toll line, Mr. Cheek said | in that section of Kansas. —e. ‘Youngstown reports th honing Valley Steel Co. has resumed operations after a week of Teflec! some improvement the Ma- l NEW YORK BANK STOCKS NEW YORK, June 24 (#).—Bid and asked prices on the stocks of leading New York national banks and trust companies follow: : National Banks. Bank of America Chase National Catham & Phenix First National.... anhattan Co National City... iss Trust Companies. Bankers . i Central Hano Corn_ Exchang Chemical ... Guaranty .. | Trving Manufactire; York INVESTMENT. TRUSTS NEW YORK, June 24 (#).—Over-the- courrter ‘market— 3 | Assoc Stand Ol Share hain & Fauit 6/ Chain Store Invest ne Do. pf - Cont Metro Bank Shares A Deposited Bank 8h series First Am Corp ... Fixed Trust 8 Do. sheet plant | & ting the volume of orders from the auto- indy o T8 Blec Lt Pow Shares A Markets at a Glance NEW YORK, June 24 (#)»—Stocks irregualr; railroads sink to new lows. Bonds irregular; United States Gov- |ernments advance. Curb irregula leaders move narrowly in dull trading. Foreign exchanges irregular; Spanish peseta drops several points. Cotton | lower; July liquidation and favorable | crops reports. Sugar steady; better spot situation. Coffee higher; firm | Brazilian markets. CHICAGO, June 24 (#)—Wheat— Weak cables; good harvesting weather. Corn easy; forecast favorable weather; | easy Scuthwest markets. Cattle irreg- ular. Hogs lower. . U. S. TREASURY BALANCE. The United States Treasury balance announc:d today as of close of business June 21 was $373,292,342.36. Customs | receipts for the month to date were | $60,808,636.04. Total ordinary expendi- tures, $6,959,552.58. BANK CLEARINGS. NEW YORK, June 24 (Special).— Today. Avearago N Cearings . $1.478.000.000 $1.059.000.000 K . 165000000 165,000,000 189,000000 136,000,000 . Y. Fed. R credit balances. (BOND PRICES MOVE INNARROW RANGE Market Dull and Irregular. New Offerings Continue Small. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK. June 24.—After a firm opening bonds turned irregular today. Volume was light, the ticker stopping for 5 and 10 minutes at a time between transactions. Money was slightly easier, though the One leading dealer in bankers' acceptances reduced | his rate one-eighth per cent for all ma- turities. The street confidently expects a reduction of the Bank of England rate_this week and today's easing was partly in anticipation of that move. Once again the budget of new issues was small, just a little over $2,000,000, consisting’ entirely of municipal bends. However, later in the week there is a $118,000,000 Cities Service offering to be announced. The syndicate is headed by Harris, Forbes & Co. in the East and Halsey, Stuart & Co. in the West. Stockholders some time ago were given rights to subscribe to the bonds, which | o are convertible 5 per cent debentures due 1950, and the $118,000,000 now to 0% | be publicly offered represents that part of the total not taken by them. Right from the opening the market had an apathetic tone. There was a fair demand for high-grade issues, such as Liberty and Treasury descriptions, legal rails and public utilities. Canadian National 5s touched a new high and Chesapeake & Ohio 4'5s, Standard Oil of New York 4!3s, Phuadelphia Co. 5s and Western Union 5s were close to their best of the year. Convertibles were steady, such bonds as Alleghany 5s, Commercial Invest- ment Trust 5!2s, Philadelphia & Read- ing Coal & Iron 6s, Loew's 6s and War- ner Bros.' Pictures 6s advancing with their complementary stocks, but other issues, like Baltimore & Ohio 4!3s, Chi- cago & Northwestern 43;s, General Theaters Equipment 6s and Interna- tional Cement 5s having fractional de- clines. Junior railroad obligations were weak. Seaboard Airline 6s, Frisco 41is, Mis- souri-Pacific 4s and 5!5s, Erie 55, Rock Island 4':s, St. Paul 55 and adjust- ments, and Chicago & Great Western 4s were all lower, but not importantly so. In the industrials National Dairy Products 5l4s were the most activ selling a shade on heavy turnove: Manati Sugar 7!5s dropped another 4 points to a fresh bottom for the year. Foreign dollar bonds were quiet and mostly unchanged. Washin_gton Stock Exchange SALES. Capital Traction 55—$500 at P90%, $1,000 at 91. Georgetown Gas 55—$500 at 101 Potomac Electric Cons. 55—$5,000 at 102} 2. Washington Gas Gs “B"—$1,000 at 105, $500 at 1047, $200 at 10214, Capital Traction Co.—8 at 60. Norfolk & Washington Steamboats rts. w.i—6 at 1614, 2 at 161, Waskington Gas Light—1 10 at 122, ‘Washington Rwy. & Electric pfd.—10 at 98, 10 at 98, National Savings & Trust—10 at 530. Columbia Sand & Gravel pfd.—10 at 9115, Mergenthaler Linotype—3 at 98. AFTER CALL. Anacostia & Potomac R. R. 55—$2,000 at 83. Washington Gas “B"—$2,000 at 1051, $500 at 105%;. Capital ‘Traction 55—$1,000 at 91, Merchants’ Transfer & Storage pfd.— 10 at 97%. Norfolk & Washington Steamboat rts. w.i—20 at 1615 Potomac Electric 6% pfd.—10 at 110%, 5 at 110%. Potomac Eleciric Cons. 10215, Washington Gas 6s “A"—$300 at 101%, $300. at 1011, Capital Traction Co.—10 at 60, 5 at 60, BONDS. Bid and Asked Prices. PUBLIC UTILITY. Amer. Tel. & Telga. 4135 '33... . Tel. & Telga. 4'35 39 0 at 12213, 65 55—$1,000 at City & Sub: Georsetown, ec. cons. 87% Potomac. Elec, 65 1053, .. o Alex & Mt. Ver. Wask Ballo, & Arinap. Washington Gas 58 Wash. Gas 6s, series A Wash. Gas 6s. series B. Wash, Rwy. & Elec. 45 MISCELLANEOUS. Rose Inc. 8las...... 65 . M. Cold Storage 55..... Wash, Cons. Title 6s..... STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. (d9). ... Capital Traction Co. (4).. Wash. Gas Lt. Co. (18).. N & W' Steamboat (d12) & W. Steamboats rts w Pot. Elec Power 67, pfd Barber & Wash,, Balfo. & Annap. com ... Wash.! Bplto. ‘& ‘Annas. pfd NATIONAL BANK Capital (14) Columbia (1 © 40 Gommercial ‘(stamped) (i) B (5 P R Lincoln (12} Metropolitan ~(14s) Riggs (18)..... Second (96) Washington (13)...0 TRUST COMPANY. mer. Sec. & Trust Co. (15) Continental Trust (6)... Merchant: 360 120 2). . R Loan & Trusi (14). SAVINGS BANK. Bank of Bethesda (6%) Commerce & Savings ( East Washington (12). Potomae (10, Security Sev. & Com. Bk Seventh Street (12).... United States (30) Wash. Mechanics (20) FIRE INSURANCE. American (12), Sorioey Corcoran (10) 1 Firemen's (8).... . National Union’ (15) TITLE INSURANCE. Columbia _(6h) . Real Estate Title & Inv. MISCELLANEOUS. Barber & Ross. Inc. Chevy Ch. Dairy pfd. Col. Sand & Grav D. C. Paper Mfg. pfd Natl Sec 7y Emer.Bromo-Selz. A’ Federal Storage pfd (8) . Fed.-Am. C (1201) . Fed.-Am' Co. pfa. (6) Lanston Monotype (8) Mer. Tr. & Stge. com. Mer. Tr: & Stge. pfd. ( Mergenthaler Lino Natl. Mtge. Wash. 3 0 10) 5 i’ 47 cee 305 Peovles Drug S Real Est. M. & Security Storage er. Ref. & Wh. e dEx rights wiWnen issued. 827 extr SILVER QUOTATIONS. NEW YORK, June 24 (#)—Bar sil- ver, 33%. —_—— ° The’ proposed channel-improvement program at Rouen, France, calls for an expenditure of § lO,mMW in 12 years. [ BOND Received by Private Wire UNITED STATES. 000 Low. Close. 100 27 100 27 1026 1022 1022 102 25 10223 10225 101 25 10124 10125 1061 10531 10531 10821 108 21 108 21 11228 11228 11228 FOREIGN. Sales. High Argentine 5348 °62. ¥l 9L Argentine, May 99 Australia 4% Australia 58 '55. Bank of Chile 6% Bank of Chile 6% Batavian Pet 4148 Belgium 6s. .. Belgium 6% Belgium Belgium Belgium Bolivar 7 Bolivia Ta et 90% 100% 103% 100% 1004 103 Canada 63°31. 100% *Canada 6s °5: A s Con Pwr Japan Copenhagen 4% s Copennagen 65 rets Cuba 5%s. Czecho 83 ‘61, Czecho 8s '52. Danish Munfe 88 A. Danish Munic 8s El Salvador Fiat 7s ex war *46 Finland 6%s. Finland s £ 6 Finland Ger 5%5'3 German Bank 6s 3. German 7s Ger Gen Elec 78 Greek 65 '63 Haitl 63, Holland-Am 6s..... Irish Free State 6s. Italy 7s...... italian Pub Sve Ts, Japane % Jugoslavia Bank 7s Karstadt 63°43.... Kreuger&Toll 68 ct. 105% 984y 101% 1034 103% 101% 89% 56 103% 104% Norway 6s Norway 6%s 62 Ortent dev 514 5! Orient Dev 65 '53... Paris-Lyons-M Poland 63 '40. Poland 7s (rcts). .. Poland 8. . 2 Queeusland 6s Rhi; Rhine West6s ‘63. . Rhine Wat EP 7850 Rio de Janeiro 6% .. Rio de Jan 8s Rio Gr du Sul 65'48 Rome 6348, i R'y’l Dutel Saq Paulo 50, Saxon (PW) 7 Seine 7, Serbs Cr Slov Serbs-Crot-Slo Solssons 6 Sweeden 5% Swiss Conted Toho El Pwr i Utd SS Copen 6: Uruguay 6s '6! Urug Allis Chalm 63 °37.. Am AgriChem T%s Am Beet Sugar 6s. . Am Chain 6s'33. . Am For Pwr 5s 2030 Am1GCh5%s 49, Am Int Cor 538 49 Am Nat Gas 6148'42 Am Smit & R 1st 68 Am Sugar Ref 6s. . 9 Armour&Co 4% 8’39 Armour, Del.5% Atl Gulf bs ‘59 Atl Refining 6: Bell Tel, Pa. 68 (B) Bell Tel Pa §s (C) Bethlehm Stl pm Bush Term Bldg bs. Certn-Td 6%s ret Chile Copper b Col G&EI 63, May’52 Con Coal. Md, ConGasN Y 6% Consumers Pwr & Det Edlison 6 East Cuba Sug 1% Fisk Rubber § Gen Cable 5%s Gen Mot Ae Cor Gen Pub Sve 6% Gen St Cast 5% Gen Thea Eq 6340, Gen Thea Eq 68 '44. Intl Paper 5 Intl Paper Intl Tel & Tel 4% Intl T&T ¢%acy... Int] Tel&Tel 68 ‘55, KIN Direct Postal Tel & C5%s Pub Svo G 44867, Pub Serv G 4148 ‘10 Pure Oil 63837 Rem Arms 6x'37. Rem Rand 6%s war Richfield O11 '+ Stnelair Of1 6s. Stneclair Crude 648 Sinelalr P L bs. So Por Rico Sug 1 Southwest Bell Stand OIL NJ Stand O N Y.434 Sug Es Orfent Tenn Cop 65 B "44. Tenn El Pwr 68 °47. Tex Corp cv 58 Transcontl Of] 63, USRub st rf 6s... U S Rubber 7% Utal Pwr&Lt Vertientes Sug 7s. Westn Union 6% s, White Sew Mach. Willys-Ov 65 '33. Wilson & Co 1st Youngstn § &T . 17 . High. Low Close. 114% 1143 114% 107 107 107 100% 100% 100% 106% 106': 106% 1034 102% 10:7s 103% 103 103% 102 102 102 105 1047 105 102% 102% 102% 103'% 103 103% 101% lo(fi)'i 1014 MY MY Y 108 104 104 88 &7l §8TY 91% 1% 995 99w L L 96% 100 96 96 6 9615 874 8T% 100% 100% 100% 101% 101% 101t 103% 10315 ln.:h 0 103% 103 103 98°% 98U 98y 40 40 40 101 100% 100% 106 106 106 103% 102% 1027 107 106% 106% 96% 96 9% 8215 814 82% 100% 100% 100% 100% 100% 100% 4 43 4 91 9MN% 91 101% 1004 100% 1041 104% 1044 10:% 102 102% 109 109 109 69 69 69 99% 99% 99% 100 100 100 29 102% 102 102 27 RAILROAD. Atl & Dan st 48 AtICL 4%s6 37 100% 1 . 4 B8y Can Nat4%s°5. Can Nat 4%s Can Nat bs, July’ Can Nor 6% Canada Sou Canadian Pac db4s. Can Pac 4%3°46 Can Pacifie ctfw 5 Can Pacifie 63 '54. Cent of Ga 5sC §9 Centof Ga 5%s Cent Pacific 48 % A Ches& O 4%4u B'95 Chi & Alton $%s. .. 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C. ROYLE. Demand for electric ‘eurrefit on the part of industry is so insistent that: consumers now must be assuted that there shall be no lack in the supply, Manufacturers and owners of induss trial plants are loath to spend millions: of dollars for electric equipment and for the electrification of old plants un« less they are assured that power will: be available to run those plants at ait times, without regard to weather conw ditions or the level of streams from which water power is developed. As.a result there has been a development of auxiliary plants, the latest form of which is the floating plant located on shipboard and moved from place to place as the need for supplementary current arises. N . Auxiliary Plant. This development grew out of a de- mand from the Pacific Northwest last year that naval vessels be docked at Tacoma and other ports and supplement local electrical service from the ves~ sels’ engines. Now the Atlantic Coast has followed suit by the installation of an auxiliary plant on the 7,000-ton cargo ship Jacona, owned and operated by the New England Public Service Co,, which supplies power to a large portion of Maine and New Hampshire he Jacona was bought from the United States Shipping Board and equipped with the new oil-fired pres- sure boilers, two 10,000-kilowatt, turbo generators and all the equipment of an up-to-date central station power plant. In case a drought reduces the supply bf hydroelectric power available in a lo- cality, so that service to customers 1§ threatened, this vessel will be moved to the nearest available harbor and con= nected with the transmission wires serva ing the community, adding 20,000 kilos watts to the power available to the hydroelectric plants, For some years it has been a policy of many public utilities to build & steam-generated plant for every hydro= electric plant put into operation. These were intended to supplement each other, the steam plant producing power wl}% | | the hydroelectric plants were operati at low efficiency, owing to drought. Dif= ficulty arose from the fact that steam- generated plants must also be located on fairly large bodies of water in order that a supply of condensing water may be available.” These new floating power plants have the entire ocean to draw upon for condensing water, Saving Is Predicted. According to Arthur D. Little & Co,, Inc., chemists and industrial engineers, this means a large faving along the seaboard for auxiliary plants. The sav~ ing in the cost of transmission is large, since the vessel can be anchored close to the place where the current is used, long lines drawn from other central stations located inland, the loss in cur- rent frequently is as high as 20 per cent, The cost of building one of these floating power plants is estimated to be less than that of a subsidiary land plan since foundations are not required m& the equipment is virtually the same. It Is possible that this development will provide a market for a number of vess sels still remaining to be sold by the United States Shipping Boar Speed obviously is not a requirement. Electrical engineers declare these floating power plants will be adapted 0"4; &pel;lote llllmg !h?l lakes and rivers e country as well as along t| - lantic, Pacific and Gulf couu‘. e (Copyright, 1930.) Baltimore Markets Special Dispatch to The Star. BALTIMORE, Md. June 24.—Pota- toes, white, 100 pounds, 2.00a2.50: new, barrel, 2.00a4.00; sweet Ppotatoes, barrel, 2.50a4.50; yams, barrel. 3.00a4.00; ase paragus, dozen, 2.002.25; beans, bushel, 75a1.50; cabbage, hamper, 30a60; care Tots, 100, 2.00a4.00; celery, crate, 3.008 3.50; corn, 1.25a1.75; cucumbers, ham- per, 25a1.25; englunu. crate, 1.25a2.25; lima beans, bushel, 3.00a4.00; lettuce, hamper, 50a1.00; onions, bushel, 758 1.25; green, 100, 75a1.25; peppers, crate, 1.0022.00; peas, bushel, 1.25a3.00; rad- ish 100, spinach, bushel, 75a1.25; squash, per, 50a75: toma- toes, crate, 50a1.25; apples. bushel, 1.00 & 3.00; blackberries, quart, 8al4; canta- loupes, crate, 1.00a3.50; cherries, pound, 5a15; grapefruit, box, 2.50a6.00; oranges, box, 3.509.00: peaches, crate, 1.50& 4.50: pineapples, crate, 3.00a4.00; straw- berries, quart, 12a20; watermelons, 100, $50.00a65.00. Dairy Markets. Poultry, allve—Chickens, Springers, pound, 25a38; Leghorns, 18a28; old roosters, 13a15; old hens, 22a24; Leg- horns, 14a18: ducks, 18a20: guinca fowls, each, 50a75; pigeons, pair, 25. Eggs—Receipts, 1,907 cases; nearby firsts, 22a2215. Butter—Good to fancy creamery, pound, 33a35; ladles, 24a25; rolls, 24a25; process, 28a29; store packed, 18a19. Live Stock Market. Cattle—Receipts, 150 head; light sup= Pl}é:ulenszghdull and lower, rs—Choice to prime, none; good to choice, 10.00 to ‘1,0.50: medium to good, 9.00 to 9.75; fair to medium, 8.00 to 8.75; plain to fair, 7.00 to 7.75; com= mon to plain, 6.50 to 7.00. Bulls—Choice to_prime, none: good to choice, 7.00 to 7.50; medium to good, 6.50 to 7.00: fair to medium, 6.00 to 6.50; plain to fair, 5.50 to 6.00; com- mon to plain, 5.00 to 5.50, Cows—Choice to prime, none; good to choice, 6.50 to 7.00; medium to good, 6.00 to 6.50; fair to medium, 5.00 to 6.00; plain to fair, 4.00 to 5.00; com- mon to plain, 3.00 to 4.00. Heifers—Choice to prime, none; good choice, 850 to 9.00; 8. to 8.00; plain to fair, 7.00 to 7.50; com= mon to plain, 6.00 to 6.50. Fresh cows and Springers, $45 to $90. Sheep and lambs—Receipts, 100 light supply; market steady. sohcl;pifiljo to 3.75; Spring lambs, 7.00 Hogs—Receipts, 200 head: dight sup- market lower. Lights, 9.75 to 10.00; heavies, 9.75 to. 10,00; medium, 9.75 0 10.00: Toughs, 7.00 to 8.75: Hght pigs, 9.00 to 9.50; pigs, 9.50 to 9.90. Calves—Receipts, 50 he: fair, lll7fl- 0 to Saies. Hign. Low Close. 17102 10234, 1024 . 188 884 |88 3 10 99% 8 lug 4 100%,,1005; f00% 579815 93l 931y Seaboard AL en 13 88 50 (61 SBAIFIa6s'36A. 16 415 40 - 414 T 94 98N 93 12 98 9% (998 1-98% 98 19815 1 290 0 90 14 109% lfl!!: 09%% 6 124% 124. 24 Tex Ark F'S 6% w80 5 305 ' 165, 1! ‘Texas & Pac 1st... 25 109%:109% 30! Tex & Pac 63 B 7., 6.102 Tex & Pac 58 C*78. 15 1824 Third Ave ref 488 5 Tol StL & W 4s 58, * Un Pac 1st ref Virginia Ry 1st 6 Va Ry & Pwr. Wabash 4158 Wabash 2d Wabash 5876 B, .., Wabash 5%8 76 Western Md 48 Waest Pacific bs. West Shore ¢s 61 Wis Cen gn 43 43 StL&SanF 55 B 5 9% 1027 102 104" 3024 W ABIK LA 92" ‘92 2 .9 *,2 10587 105% 105% 47101% 10134 do1n 15 025 92% P24 4 102 102 102% 14 99 9915 994 2 103% 103% 1034 4 82 kL