Evening Star Newspaper, June 26, 1930, Page 15

FINANCIAL. “TRADING IN CURB SHARES IRREGULAR Market Shows Tendency to Resist Selling Pressure. Utilities Active. BY JOHN A. CRONE. Bpeclal Dispatch to The Star. NEW YORK, June 26.-—Opening higher, stocks on the Curb Exchange today invited some selling in the first hour, but rallied thereafter. was much less than on Wednesday. Electric Bond & Share, after opening on a block of 6,500 shares at 767, up s, eased more than two points and then Tecovered. Cities Service held fairly close to its previous close, but Standard Oil of Indiana was fractionally lower. American Superpower and American & Foreign Power pointed higher and so did American Gas & Electric. Features in forenoon trading included improvement in investment trust and trading corporation shares, brisk activ- ity in the newly admitted American Tobacco new B when-issued, further irregularity in some of the Pennsylva- nia and Ohio oil issues, and decreased volume of transactions. Sales in the first two hours amounted to only 252,- 000 shares as against 405,100 in the same period Wednesday. American Tobacco B new when-issued, resulting from the proposed two-for-one split of the present shares, proved the most active issue outside of the standard favorites. Tobacco opened at 1143, and #oon sold up to 116 and then see.sawed. The betterment in market sentiment towards trading corporations resulted from the initial dividend declaration of 20 cents on Blue Ridge common. Although this stock made no immediate market response, Blue Ridge preferred and Goldman Sachs improved. . , Shenandoah declared the usual quar- terly preferred dividend, but paid noth- ing on the common, which has re ceived no dividends since the 11, per cent declaration of last November. About a month ago Goldman Sachs, which is interested in Blue Ridge and fihegmdolh. omitted its common divi- ien BONDS ON THE CURB DOMEETIC BONDS. High. les. w. 1'Abbott Dairies_ 6s 98%a 34 Alabama Pow 55 ' 10134 1 a 957, 9 1023 102% 937, 99% 9 2. 9812 . 10137 Alal 9 Aluminum Co 58 N 12 Aluminum Ltd 55 '48 993, 10 Am Cmwih Pw 6s '40 98 1$Amer G & E 55 '28.. 98 30 Citles Service 5s 5City_of Brisbane. . 15 Git Serv Gas 5las 10 Cit Serv Pow 5iss 1Cleve Elec Iilu s “omwh Ed 4, Volume THE EVENING STAR, WASHINGTON NEW YORK CURB MARKE Notice—All stocks are soid in ene hundred. excepting those which I:I'l those —Prev.1930.~ Stock and Low. Dividend Rate. 5% Aero Supply (B) Ainsworth (32% 7 Am Capital pf (B). 67 . Am Cigar Co 204 2l 4 * -~ 17% 3 Am Com I'(A) b10%. Am Cwith P(B)10% Am Co'with Pwr war Am Control O1l Flds. Am Cynam B (1.60). Am Dept Stores. ... 4 Am Equitle . Am For Pwr(war. Am Gas & Eleo (31). Am Gas&Elec pf(6).. i Am Invest Inc (B).. { Am Invest (war). | Am Lt & Trac (2% | b4l 364 Am Machine & Fdry | Am Maricabo. Am Natural G Am Phoenix (3). Am St Pub S A(1. Am Superpwr (1 A.un Super 1st pf Am Tobacco B (new) Am U&Gen B vic 400 Am Yvette (n) w. Anglo Chil Nitrate Appalachian Gas Arkansus Nat Ga: Ark Nat Gas (A).... Ark N G cu pf(§0c) .. Asso Dyeing & Ptg.. Asso Eiec Ind (30¢). Asso Gas & Elec. ... Ass0 GLE (A) 12.40. Ass0 G&E (A) db rts Asso Rayon pf (6).. Asso Tel Utll (b3%). Atlas Plywood (2).. Auto Music A(11.05) Auto Vot Ma cv pt pt Aviation Corp of Am Aviation Credit. Bellanca Alreraft. Blisa Co (£ W) (1).. Blue Ridge Corp. Blue Ridge cv pf(a3) Blumenthal (5)..... Brazil Trac & Lt (2) Brit Am To reg 11.20 Buft, N&EP pf(1.60) » BuErrSnan mrrarn@reSem nome s e R ane Burco, Inc, ev pf (3). Bwana M Kubwa.... Cable & Wire A rcts. % Cable&Wire (B) rcts Cab&Wire pf(27%e). Canada Marcont. ..., Carib Syndicats . Cent Hud G&E n(80e Cent P 8 (A) (21.75) Cent & Sw U(b6%).. Cent States Elec $400 4 Centrifug Pipe(60c). Chain Stores Dev.... Chat Ph Al n-v(50¢). Chem Nat Asso n-v. Citles Service(130¢c) Cities Srve pf (6).. . Cities Sve P&L pf (6) Clev Tractor (1.60).. Sk Colum Pic v.t.c. 11%. Com'wlith & Sou war. Comm Wat Serv b6% Consol Aircraft. Consol Auto Merch Consol Au Mer cu Consol Copper. Cons Dairy Pro Con Gas, Ballo(3.60) Consol Instrument. Consol Laundries. ... Consol Nevada-Utah nt Chi Cp cv pf(3). ntl Shares pf (6).. Contl Shares pf B(6) Cord Corp...uuusens Corp Sec, Chi (b6%). Cosden Oil. .. Creole Petroleum. .., Cresson Consol (8c). Crocker Wheel » E8 oBanermatar P S RT — 3 % ww 90 "45 55 A 2030 Sias 41 1Fisk Rubber S5ias '31. L83 23 Florida P & Pow 55 98 89 9 9 99 97 01 05: 81 90° 2 9 85 37 88 4 8 88 00 01 011 003, 98 88 90° ot 100% 55 B '58 10015 7las '30 10012 55 '57... 1014 Bs, & L4138 '8 Niag_Shares 55 iNorind'e 8 880 Cuban Cane pr opt w Cuneo Press (2%4)... Dayton Alr & Eng. Deere & Co (11.20) De Forest Radio. Deisel W Gilbert (1% Detroit Arcraft. ... Doehler Die Castin Dresser(SR) A(3%). Dubilier Cond & Rad Duquesne Gas (new). Durant Motors. Duval Tex Sul w.i... Eastn G&F Asso.... " n Sta Pwr B(1). o " BRED MO R NR N~ AN © El Bond&Sh pf wi(5) 121 Bond & Sh (b6).. 1 Bond & Sh pf (6). Elec Pwr Ass0 (1).. Elec Pwr A850 A (1) Elen Pwr & L op war Elec Shareholdg($1) £1 Sharehold pf (6).. Emp G&F cu f (7). Emp Pow prt (14.04) Emp Pub Sv A(1.80) Europ EL Ltd A(60c) Federal Screw (3). Fokker Alrcraft. Fiat recelpts (1.26). Florida P&L pf (7). Foltis Fischer Corp. Ford Mot, Can A t1% Ford Mot,France 28c Ford Mor,Ltd 37 %e. Foremost Dairy Pr.. Fox Theater Cl (A). Garlock Pkg (1.20).. General Baking. Gen Baking pf (3). 4 Gen Fi'proof (12%).. Gen G&Eev pf Bi6). Gen E, Ltd rcts(50¢) Gen W W&E(A) (3). Glen Alden Coal 3 Globs Underwriter: Golden Center . Goldman Sach T C. Gold Seal Elec new Goth Knithack Mach GrA&PTn-v(5).. 40s Gr A &P Tea pf (7). 160s o 2 ) B O o e e LT L L LT Y P 18 1% % 180% 1154 12 Uni 2 22Uni Lt & Ry 5% 3 Um Lt & Ry 6 3Us a8 s '52 A '52 1 20 02 40 9 1 Agr Mtz Bank 1 Bogota Mtg Bk 7s '47 8 10 Buenos Aires 615 '61 883, 10 Buen Air Pr Tias '47100% 1Cauca Valley 75 48 73'2 4 Cent Bk Ger 6x A Pinid R ¢ 28 Gelsenkirchen 6s ‘34 1 Gen Cons Mun s '47 8412 26 Ger Cons Mun Ts 47 9614 3 Gestueral 6s 53 ww.. 8113 2 Hamb 1 Sias ambu! 2 2 Hanover Pro 6!a; e, : 7 Ttal 83 707 fansf M&S 15 ‘41 xw 86 © aeliin Co1 Ia 51, B8 22 Russtan 5158 A Russ 6128 ctf 1 Saarbrueck 7s 4 Santiago_Chile & Stinnes 7s '36_xw cifs 31 S 26'% 10% 3 1174 Gt Lakes D C (new) . Groe Stores Prod vie Guardian (nves Gulf Ol of Pa(1 Hall Lamp (1%) Hambleton Corp. Hecia Mining (1) Hires (CE) (A)(2).. Hollinger Gold (60c) Houston Of} of Texas Hudson Bay M & 8 Humble O1l (2).. Hydro Elec Sec (2).. Hygrade Kood Prod. Imp Oll. Can, n(60e) . nd Terr Jilu Ol (A) ind Terr I1lu Ofl (B) Ind <in ctfs(b10% ). indus Fincv pf 17). . Insull Util Inv(19%) ins Co. No Am «13).. insurance Sec(1.40). Intercontinent Pet n Intercont Pow A (2). intl Petroleum (1).. Int] Superpwr($1).. Int Utilities A (3%). Internat) Util 1B).. Iintl Utllities (war) Intl Util war (new). interstate Equit interst Eocv ofi3). Interstat H M (1.40) Italian Super war. .. Klein(H)pt pf($120) Lackawanna Sec(4). Lakey Foundry. Land Co of Florid Lane Bryant (2) Lefcourt Real(1d Lehigh Coal & N GINGER ALE SALES CLOSE TO LAST YEAR Special Dispatch to The Star. o @a ~ PANN—N o RSN DA s urs e e ae e BN 2 o " -3 80% Canada Dry Ginger Ale, Inc., will dis- $1.25 per share to stockholders of record A Sydney NSW_S5i.s '55 88 3 Vel T Ser 70 58 xw 941 With warrants. T Without warrants. —New. ANITWhen leued. B8 88 94 94 on July 1. In a letter to stockholders announc- ing the dividend action, P. D. Saylor, president, states that “profits for the entire year will be approximately those of unseasonal rains on mulberry trees. Chicage Easiern’ Ti. -share designated by the leiter s (65s) (285 stocks to be sold in odd fots only. Bales— Add 00. Open. High. 6 6 18% N NEW YORK, June 26.—On July 15| Perience. tribute its regular quarterly dividend of |ended May 11" his letter states, “are | Received by Private Wire Direct to The Star Office ~Prev 1930.— Hizh Low. 4% 1% L 56 381 Stock and m)- Dividend Rate. eonard Ofl. . Lerner Stores (2) Lily Tulip Cup 1% Lion Ol Refin (2). Loew's, Inc, deb rts.. Lo Inc (war). Lone Star Gas. n (1), Long Isld Lt pf (7).. Louisiana Lan & Ex. MacMarr Stores (1). 4 Magdalena Synd. Marc Int M (52%¢).. Marine Mid (1.20). Marion Steam Shov.. Mavis Bottling. Memphis Nat Gas. Mer Cha & S (1.60) Met & Min. Inc(1.3 Met Chain Stor 4 Mid Sts Pet v.t.c. Mid Sts Pet v.t.c. B Mid Wat Util(b8%). Mid Wst Util B war. Mid St Prod, n (2) Midvale Co (4)...... Min Corp of C (25¢).. Mo Kan P L (b10%). MissKPLv.te.... 1 Montecatin] deb ris Mount Prod(1.60). Natl Amer Co. Natl Aviation Natl Bond & S Natl Investors. ... Natl Pwr & Lt pf (1 Nat Sh Trm SecA $50 9 Natl Sugar. NJ (2).. %% Natl Transit (1). Natl Union Radlo. Low. Close. 6% 6% 18% A% 4% 250 ) - PNANT A A I Rw~ S5 0wara -8 PPN 35 11% 12 109% 109% 15% 14 30% 301 1% 170 4 4 8 Nelson (Herman)(2) New Brad Oll (50c). w Eng Pwr (2).. New Mex & Ariz Ld.. N J Zine (12%).. Newmont Min (34) Newport Co (2).. 4 N Y Pet Royalty. N Y Rio&Bu Al N Y Tel pf (6%). 4 Niag Hud Pwr( Niag Hud Pwr.A war Niag Shars Md(40c). Niles-Bem-P (12%). 4 Noranda Mines (2).. No Am Aviat A war.. No Am Lt&Pr(b8%). Noth Euro Oil Corp, , Northern P L (15)... Nor Sta Pwr A(8). Ohlo Brass B (5) Ohio Copper. Ohio Ofl (4) Ohio 011 pf n Okla Gas & K1 pf (7). Outbd Mot(A)(1.80). Pacific Finance Corp, Pac Western Ol .. Pac Pub Sve (1.30) Pandem Of). Pantepec Oil. Param’t Cab(b3 %) Pennroad Corp (20¢) Peoples L&P. A a2.40 Pepperell Mfg (8). Perryman Ele Petrol Corp wi Pilot Ra T(A) (1. Pitney B P.n (20c) Pittbgh Forg (1.60). Pitts Plate Glass(2). 4 Plymouth Ol (2) Premier Gold (24¢).. Prince & Whitely 1 Prince & Whit pf(3). » I S LT L Trrepue n @ 2 R AXRANUN S AR NRAAD Pub Util Hold w w.. Railroad Sh Cp(25¢). Rainbow Lu Prod A. Rainbow Lu Prod B.. Reiter-Foster(40¢).. Rellable Strs(b5%) . Reliance Manag. Rocklans Lt&P(92¢) Roan Antelope Min. . Safety Car H&L (3). St Regls Paper (1).. St Regls Pap pf (1) Salt Creek Prod (2) Saxet Co Schulte Real t Schulte Un 6e-31 St Seaboard Util (50¢). Seg Lock & H (50c).. elected Industries. . Sentry Safety Cont.. Shattuck Den Min. Sheaffer Pen (13).. ndoah Corp e Coro pf (al3). Sillca Gel Ctts 4 Sisto Finance Corp Smith (A 0) (2). South Coast....... So Cal Ed pf B(134) South Penn O11(t21§) So Col Pwr (A) (2) Southern Corp. Southland Roy (1 S W Gas Utilit 4 Spanish & Gen Stand Oil. Ind (2% Standard Motor: Stand OiL KY(t1. Stand Oil, Neb.(13%) Stand OiL. Ohto(3%). Starrett Corp.... Starrett Corp of (3). Stein(A) Co pf(6%) 200s Stein Cosmetics.... 1% Strauss Roth. % Stuts Motor Car. Sullivan Mach (4). Sun Inv.. Sun Inv pt (3). Sunray Oll (40¢).. Swift & Co new (2).. Swift Internatle2%4 Swiss-Am EI pf (6) .. Tampa Electrie (33) Technicolor Ine. ... Texon Oil & Ld(25¢) Thatcher Sec Corp. . Transamer (11.60). 4 Tran Con Afr Tran Trans Lux DL P § Tri Utlitles($1.20) ‘Tubsize Chatel (B).. Tung-Sol Lamp (2). Ulen & Co (1.60). .. Ongerieider F Corp. Union Tobacco. . 3 Unit Car Fastnr(60c) United Corp (war).. Unitt Dry Dock United Eelec Service Unit El Sve pr war. . Utd Founders(b2.35) United Gas Co (new) United Gas (war). United Gas pf (1) Utd Lt & Pwr A(1) Utd Lt & Pwr pf(6).. 4 US Dairy (B). % U S Elec Pwr ww o tops e MENHTAN BONAS -3 10% 21 20% 10 20% 21 21 ® o Swonda o 4 112% e S P < L T e o e T T - 2 £8 - o BRDE D 3 S T 17% 123 1 18% 3 B3Y US Lines pf (1)..... U S & Overseas war. Unit Verde Ext (2).. (Mity Pwr&Ltial). 4 Uulity & Ind. . Util & Ind pf (1%) Utllity Equities Vacuum O1 (141 ) Veeder Root (214). Venezuela Petrolm Vick Financial Cor] Walgreen Co. Walker (H) (1)... Walker Min (7%¢) Watson (J W) Co White Eagle O db rts Wil-Low Cafeteria. “Y* Ofl & Ga Zonite Producty RIGHT® Hud Bay M&S InsCoof N A % 4 Intl Nickel w. 4% 1% Lone Star Gi 3 % Mo Kan Pipe.. Dividend rates tn dollars annua) payment. *Ex-dividend. tPartly extra. $Plus extra in stock. a Payable tn cash or stock. b Payable in stock. d Payable in preferred stock. of the previous year” Manufacturing RAILROAD EARNINGS. economies and other savings in oper: NEW YORK, June 26 (#).—Railroad tions will overcome whatever slight de- ' earnings statements for May, published crease in sales the company may ex- | today, continued to show a preponder- e Ea ancE CaB R manrpwa » 8% 1% 140 1% . 4% £xpire July 15 .Oet 1 15 % & 4% 2, 2% 3 21 * k k W 2 24 luiy 3 June 26 based on Iast quarterly or semi- 40% 4 2 25% 16 3% L 2% 2% 2w 4 * & & 2 25% 16 81 30% | as compared with the same month last “Sales for the eight months' period | vear. some of the figures follow: slightly behind the corresponding period | Rail . of 1ast year—six-tenths of 1 per cent.” | Missour Pacific gt | Pennsyivania RS Pere Marquette: production in Italy may he‘ & Maine. Cocoon Boston 78 retarded this year becanse of the effects ' Ore 3'338 42 fés | ance of declines in net operating income | Shaih & Gen, Eauit 612 THURSDAY, INEAT MARKETING METHODS CHANGED Sale of Packaged Variety_ Declared Cheaper Way of - Merchandising. BY J. C. ROYLE. New methods of marketing meat at retail are declared by merchants who have adopted them to have resulted in a lessening of cost to the consumer amounting to 2 or 3 cetns a pound. In addition, these methods have al- most revolutionized the personnel of the trade marketing fresh meat. This has resulted from package sales of meat refrigerated under. the new quick freezing methods. Meat is one of the last food products to be retailed in a trade mark package. Marketing Change Sudden. The sale of fresh meat in pre-cut individual sizes became & reality with the utmost suddenness. It was the marketers of other food products who seized on this system, rather than the retail butchers themselves. The former have established what they call mod- ern fresh meat “butcherterias.” These stores are butcherless, and from them the old chopping block and old sawdust floor have disappeared, to be replaced by a refrigerated display case from which customers can select their own special cuts. For example, one coffee store in Brooklyn reports that its fresh meat sales have soared from $72 to $470 a week as a result of the installation of such a system. The proprietor of this concern is installing the system in 16 other cities. All meat is Government-graded and each retail cut shows the grade stamp. ‘The proprietor of the coffee chain that has installed this system -says: “The new system not only gives the customer a finer cut at a lower price than fresh, loose meat of similar grade and quality, but it reduces waste for the retail butcher, while the packer 2 gets more cuts per quarter and uses the trimmings for valuable byproducts. It lessens the retailer’s overhead, since less stock has to be carried and less expensive help employed. Quicker service increases sales by each em- ploye.” Opposition Develops, ‘These new developments in the re- tailing of meat naturally have met with opposition from the storés that specialize exclusively in meat and meat products and from the skilled labor employed in such stores. They see in this an effort on the part of the packers to invade the retail field, and this is keenly resented. The chains which have taken up this policy of merchandising are laying out demonstration stores to attract the public. In such stores only meat pack- aged in trade-marked boxes will be sold. (Copyright, 1930.) NEW YORK BANK STOCKS NEW YORK, June 26 (Speclal).— Bank stocks and trust shures recovered today, but the volume of trading was small. Guaranty Trust, at 535, was up 2; Bankers, 120, up 1; Bank of United States, 40, off 1; Brooklyn Trust, 665, up 5; Central Hanover, 32i, up 2 Chemical, 61, up 1; Commeccial, 390, off 10; Irving, 45%, up }2; Manhattan, 103, up 1; New York Trust, 212, off 2, and Public, 1014, off 3. The following were unchanged: Chase National, 121; National City, 120; Corn Exchange, 160; Bank of America, 92; Chatham-Phenix, 100; Chelsea, 33; Continentai, 25'5; Empire, 68; First National, 4475; Manu- facturers, 89. NEW YORK COTTON NEW YORK, June 26 (Special).— Cotton advanced sharply about $2 - bale today on the exchange, partly ia sympathy with the recovery in stocks and grain and in part due to extremely high temperatures in the cotton belt. While sections east and west of the Mississippi River have had ample moisture, Central States have had very little rain this month and 135 stations reported temperatures of 100 to 111 degrees. Shorts covered and final prices were about the best of the day. Spots were advanced 35 points to 13.80. Cotton range: January, January, March b ok EE283E8CY GRAIN MARKET CHICAGO, June 26 (#).—Advancing prices in the wheat market today led to ains of 4!y a bushel as compared with yesterday's finish. Reported moves to have the Federal Farm Board exiend stabilization operations to include this SeASON'S CrOPS Were MOre Or 'ess Asso- ciated with the upward -wing of values. Late Canadian advices were czlso e- ceived that in some districts the needs of rain is urgent, and that crops are daily going backward, with much dam- | age already beyond repair. Reactions from the day's top pricos occurred in the final dealings, and wheat closed unsettled 2'2a3!; a bushel over yesterday's finish. Corn closed 3% al up, oats unchanged to !4 advanced, and provisions showing 7-32 gain. WHEAT— uly ... September December July Beptemier ", ecember o July Eeptember ! July ... Beptember December July Beptember December }-JONEY MARKET. NEW YORK, June 26 (F).—The cheapest call money since August 1, 1917, appeared on the market today when funds dropped to 11, per cent from the renewal figure of 2. Time loans were dull and the rates unchanged, commercial paper clinging to the 3%, to 315 per cent rates for the best names. There was no variation |in bankers’' acceptance rates. BANK CLEARINGS. NEW YORK, June 26 (Special). — New York bank clearings, today, $1.- 380,000,000; a year ago, $1,381,000,000. New York bank balances, today, $179,- 000,000; a year ago, $187,000,000. New York Federal Reserve credit balances, %IY- $145,000,000; a year ago, $162,- INVESTMENT TRUSTS NEW YORK, June 26 (#).—Over the counter market. Amer Ins Stocks. id, Asked. 13% Assoc Stand Oil S 1113 [ Chain Sto w) B = 1 Do. . i Corporate o Super Corp of Am Tr Shares A Trustee d Oil Shares A United ank’ & Tr Shra C. Others unchanged. se. | horn_fowls, 19a20; roosters, 17; ducks, JUNE 26, 1930. FINANCIA WALL STREET QUIET AT NIGHT., IN CONTRAST TO PANIC DAYS NEW YORK. June 26.—Wall street | today is quite different from the picture | it presented during the Autumn panic | of a year ago. Walking through that | district today, despite the numerous new | buildings climbing skyward, is a com- | paratively easy task, as pedestrians and vehicles are fewer and street venders are relatively absent. The street lacks the color that erowds | add to it, and this is equally true of | the Stock Exchange, the Ci.rb and Trin- | ity Church and its churchyard, where | visitors are less conspicuous than during | the 1929 bull market or last Autumn’s nightmare The average merchant, the jeweler, | bogksgller, haberdasher or florist has a | mofe sant mien than he had either | last,@Ummer or Autumn. Then the | market_took up so much of the Wall | street populace’s time that stores were | neglected, but merchants were doing a fair business or had prospects of such. The extra smile from the storekeeper | filled with runners, messengers, clerks, or the friendly chatter obviously is aimed to win trade. Along with the decline in crowds has come an increase in animals. Sleek cats, sparrows, pigeons and dogs move contendealy abcut the district. A year ago they were dodging breathless run- ners or honking cars or trucks. Around the street at night, however, one notes the greatest difference. Com- ing through the canyoned thorcughfare any night last Summer or Autumn the visitor would see automobile-lined stroets and brilliantly lighted office buildings. from which came the fa- miliar sounds of adding. billing and typewriting machines. The streets were waiters, bankers and brokers. Last night Wall street virtually was deserted. In front of the Bank of Amer- ica Building, at William and4 Wall, stood a huge high-powered sedan, whose occupants listened to a radio concert. From a few windows in the bullding came light—Ilight needed by the scrub- woman or the jaritor. BUSINESS UPTURN SEENINEARLY FALL A. B. A. President Tells Vir- ginia Bankers of Better Times Ahead. Special Dispatch to The Star. | HOT SPRINGS, Va,, June 26.—Better times wiil start in September, according | to the belief of John D. Lonsdale, presi. dent of the American Bankers' Associa tion, who addressed the annual conven. tion of the Virginia Bankers' Associa- tion at the Homestead here today. “Periods of business stress are like Summer storms,” said Mr. Lonsdale, | “which blow rather furiously for a time | and then pass on, to be followed by | brilliant sunshine. I am inclined to | think the storm of the past few months has about passed. Now and then there is still a rumble of thunder, but the clouds are breaking nw|¥l and the sun already is peeping through in spots. By Autumn, the business barometer should indicate calm, fair weather ahead. “With the new wealth that is coming out of the ground, September—which is the new year for business—should be the starting point for renewed activity. Let me suggest that those gentlemen | who insist on living by comparisons, if they want to be fair, should choose Sep- tember of 1930 as the starting place, because September of 1929 really ush- ered in the recession. . Succeeding months then can be compared with like riods last year. pe“lt has bcgn noticeable this year that those who have been optimistic and kept | up enthusiastic activity have obtained satisfactory trade. The business psy- chology of some people reminds me of the merchant who had a glass tank of fish in his window. A giass partition ran through the middle. On one side were bass and on the other side min- nows. At first, as the minnows swam near the partition the bass would strike at them, only to receive a blow on the nose. At last Mr. Bass got tired of this unprofitable procedure and gave up thel quest. At this stage the merchant re- moved the glass partition and let the minnows swim among the bass. But old Mr. Bass had been sold on the idea that | business was bad, and continued to ig- nore the minnows. | “In the business and banking world, | economic research and analysis serve as the microscope through which we are enabled to see basic factors more clearly and thus determine the causes of suc- cess and failure. Only recently have we begun to realize the full value of research and analysis and apply them in | such a_way as to eliminate the guess- | work that was characteristic of indus- | try a few years ago. Eliminate the guess, and you will reach success, might well | be a motto for all of us.” | Washington Produce Butter—One-pound prints, 371223814 tub, 36a37. 21a32; Eggs—Hennery, ceipts, 20a21. Poultry, alilve—Spring broilers, large, 38; small, 32a33; Leghorns, 25a27; fowls, 20a21; Leghorn fowls, 16al7; roosters, 14al5; ducks, 15. Dressed— Spring broilers, large, 45a47; small, 40a 42; Leghorns, 30a33; fowls, 24a25; Leg- current re- 24a2: Meats, fresh killed—Beef, 18a21; veal, 15a18; lamb, 25: pork loins, 25a28; fresh hams, 25; fresh shoulders, 18a20; smoked hams, 27; smoked shoulders, 20; bacon, 27; lard, in packages, 13; in bulk, 12. | Live stock—Calves, 9a9',; lambs, 10. Fruits—Watermelons, : taloupes, California and Arizona jum bos, 6.00; standards, 5.00; apples, 1.00a 2.00; peaches, 2.00a2.50: pineapples, | 4.50; honeydews, 2.50a3.00; honeyballs, 4.50: raspberries, red, per quart, 30 black, per quart, 20; huckleberries, 25a | 30: cherries, 6.0 plums, California, 2.50: apricots, California, 1.75a2.00; oranges, 7.50a8.00; lemons, 6.} Vegetables—Potatoes, 3.75a4.25; beans, 2.50a3.00; peas, New York, 3.50; | corn, 2.00a2. asparagus, 1.50a2.00: cucumbers, 1.1 peck hampers, 1. beans, 1.00; kale, 75; spinach, ; carrots, per 100 bunches, 3.00a4.00: beets, per 100 bunches, 3.00a4.00; to- | matoes, homegrown, per bushel, 4.00; | shipped in, 30-pound lugs, 1.15a1.30; | squash, 50a1.00; cucumbers, 1.25a2.00. | ST Reorganization Plan. NEW YORK, June 26 (#).—A plan of reorganization submitted today to stock- holders of the Van Camp Packing Co. provides for a new corporation, to be hamed later, to own all the assets of | Van Camp and receive approximately | $2,500,000 additional in cash. 3 | CHICAGO DAIRY MARKET. | CHICAGO, June 26 (#).—Butter, . i creamery extras 311;; firsts. 28152291 3 27';. Eggs, 15,663 cases; easier: extra firsts, 22; fresh graded firsts, 211.; cur- rent receipts, 20!2: ordinary current receipts, 19a20: storage packed firsts, | 22'%; storage packed extras, 23. STOCK AND BOND AVERAGES By the Associated Press. From Yesterday STOC! 50 Industrials. 80, . Three years ago, weekly aver. . 11 High (1930). Low (1930) . * New 1930 low. 10 Industrials. . 925 Year ago. Two years ago..... Three years ago, weel High (1930).... Low (1930)..... 3 | 19 NEW SECURITIES NEW YORK, June 26 (#).—New se- curities offered today include: Colorado & Southern Rallroad Co., $20,000,000 4'2 per cent mortgage bonds at 9514, by J. P. Morgan & Co., First National Bank and National City Co. People of Porto Rico, $4,000,000 4!5 per cent bonds, to yield from 3 to 4.1 per cent, by Haligarten & Co. and syn- dicate. Borough of Seaside, N. J., $360,000 6 per cent bonds, to yield from 5 to 5.50 | per cent, by H. B. Boland & Co. Corporation News NEW YORK, June 26.—The follow- ing is today's summary of important corporation news prepared by Standard Statistics Co., Inc., New York, for the Associated Press: News Trend. Outstanding in the day’s corporate news is announcement of the American ‘Tobacco Co. that stockholders would be asked to vote on a plan to split the common and common B stock on a basis of two new shares for each present share. If plan is approved, directors announced, an extra dividend of $4 a share will be paid on old common and new stock will be placed on $5 annual basis, equivalent to $10 on old stock, which is now on an $8 basis. Companies announcing the omission or reduction of dividends included Gen- eral Outdoor Advertising, U. 8. Smelt- ing, Refining & Mining, MacMillan Pe- troleum and Consolidated Royalty Oil. Favorable earnings statements were published by Collins & Aiken and Lef- court Realty. The Companies. American Ice May net, after interest but before taxes and depreciation, up 16 per cent; five months, 12 per cent below 1929 period. American Tobacco stockholders to vote on two-for-one split-up of $50 par common and class B common. Each new share to be $25 par and will be entitled to one vote. Preferred stock voting power to be increased from two votes to four, to preserve relative voting power of issues. If approved, an extra dividend of $4 will be paid on old . com- mon stock and new common will be placed on $5 annual basis. Net income first five months increased 100 per cent over 1929 period. ¥ American Shipbuilding declares quar- terly dividend $1.25 on new no par com- mon, equivalent to $8.33 on old com- mon. American Water Works & Electric May net up slightly; 12 months to May 6 per cent above year ago. Associated Apparel Industries, Inc., earned $3.05 on common stock in six months to May 31. Associated Gas & Electric surplus after charges 12 montbs to May 31, in- cluding newly acquired properteis from date acquisition, $18,622,132, against $8,224,755 in previous year. Atlantic, Gulf & West Indies Steam- | ship Lines April net income off 15 per | cent; four months, 25 per cent below year ago. Belding-Heminway Co. reduces price 25-yard darning silk from 65 cents list; per dozen to 40 cents. Collins & Aikman Corporation umedl $1.01 on common stock in quarter ended | May 31, against 24 cents in 1929 period. Consolidated Royalty Oil reduces quarterly dividend 123 ocents from 15 cents. Erie R. R. May surplus off 75.2 P" cent; five months, 85.4 per cent below year ago. General Outdoor Advertising omits 50 mu quarterly dividend due at this e Great Northern Ry. House I. C. C. committee amends Senate consolidated resolution to forbid consummation of proposed Great Northern and Northern | Pacific merger until after March 4, 1931. | Great Northern Railway May net op- erating income off 66.8 per cent: 5 months, 79.8 per cent below year ago.| International Shoe Production = six months to May 31 totaled 25,334,800 ! pairs, 119,381 above output in 1929 period and new high record. Lefcourt Reality earned $1.71 on com- mon stock in 6 months to May 31, against $1.43 in 1929 period. Macmillan Petroleum omits quarterly | common dividends of 50 cents cash and 2 per cent stock due at this time. Mirror (The) had deficit $9,204 In' 29. | New York, Ric & Buenos Aires Line| carried 5,055 passengers between North | and South America, period January 1| to May 31. Pennsylvania Railroad May net oper- ating income off 28.6 per cent; 5 months, 27.6 per cent below year 3 | Public Utility Holding Corporation of America acquires minority interest in L'Union Electrique Rurale, French util- ity system. Puget Sound Power & Light May net | up 17 per cent; 5 months, 11 per cent above vear ago. | South Coast had deficit $858,093 in year ended February 28, 1930. United States Smelting, Refining & Mining declared 25 cents quarterly com- mon dividend; formerly paid 87!; cents. COMMODITY PRICES. By the Associated Press. The steady decline of commodity prices continued uninterrupted during the week ended June 21, as compared with the previous period. Figures which follow give the change as calculated by the Census Bureau, which uses 1926 as A base year. In addition, selling prices for a composite ton of steel is likewise given for comparable periods. 1 Commodities. Week ended June 21.. 86.2 Previous week. .. Same week of 19 5:30 Edition, KS. 20 20 Utilities. 206.0 L NEW YORK. June 26 (#)—Stocks strong; pivotal shares rally 3 to 6 points. Bonds_irregular; domestic issues firm ; leaders rally 1 to 3 points. Foreign exchanges irregular; Spanish seta again touches new low. Cotton filher: firm; cables and fears high temperature. Sugar steady; firmer &po market. Coffee steady; commission house buying. CHICAGO, June 26 (#).—Wheat firm: bullish crop news. Corn firm; smaller Argentine exports and sympathy with wheat. Cattle strong to higher. Hogs steady to lower. PRINCE & WHITELY - TRADING CO. REPORTS Special Dispatch to The NEW YORK, N. Y., June 26.—Prince & Whitley Trading Corporation in its report to stockholders for the period of operation from September 17, 1929, to May 31, 1930, representing approxi- mately the first three-quarters of the corporation’s fiscal year, which ends August 31, shows income from all sources, including dividends on prefer~ red stock owned, accrued but not de- clared,”and including capital gain from giving effect to the purchase of a total of 60,000 shares of its preferred stock at an aver, cost of $37.47 per share, of $3,021,5¢ After expenses amount= ing to $57,721 the net gain before pro- vision for Federal incqme tax was $32,- 963,839 for this period. After deducting estimated tax requirements the balance was equivalent to more than three times annual dividend requirements of $804,« 000 on the 268,000 shares of preferred stock remaining outstanding. et s CHICAGO STOCK MARKET By the Associated Press. CHICAGO, June 26—Following is the complete official list of transac- tions in stocks on the Chicago Stock Exchange today: Sales. STOCKS. High All-Am Mohawk..... " 350 Allied Mot Ind 30 Am - Colortype 800 Am G a 2 rn_ AU 500 Banco Kentucky. 2900 Bendix _ Aviation. 3300 Borg 1) Ceco Mig. 58 Cent 1Il 1350 Cent 11l Sec o 100 Cent Pub Serv ‘el 150 Cent Pub Serv A o1 P SE8505.8S8E, SRS, 82! s sesusEyy, 8 60 La Salle Ext. 200 Libby-McNeill 800 N Amer Light & 300 North _South 50 Perfect _Circle 100 Pines Winter 300 Polymet, 12 Public Ser: Serv 70 Public. 100Q R S M 0 Quaker Oats 100 Railroad Shares . 50 Ravtheon_vic 100 Reliance Intl 450 Reliance Mfg 50 Rollins Hos 100 Ryerson & Son 900 Sangamo Elec ... 830 Saxet. 50 Seaboard Ut/ 1 e s enge f o o “tock sales today, 203 BONDS. 56000 Tnsull o100 99% 100} 000 Insull 000 100% 9% 1004 nd sale sl Charles Macklin, the English actor who lived to the ripe old age of 107 made his last appearance on the stage as Shylock in his 100th year, when h¢ “played the part with all the vigor o a_young_man." First Mortgage Money | for 6% BUILDING LOANS or IMPROVED PROPERTY Reasonable Prompt Aci B. F. SAUL CO. 928 15th St. Nat'l 2100