Evening Star Newspaper, July 9, 1930, Page 15

FINANCIAL, CURB LIST AGTIVE AND PRICES HIGHER/ Utilities S ter News Advices Lend Bullish Tone. how Gains as Bet- BY JOHN A. CRONE. Bpecial Dispatch to The Star. NEW YORK, July 9.—Stimulated by favorable news developments, the Curb Exchange opened active and higher today. The gains in some utilities and industrials. were increased as the ses- sion progressed, but the volume of trad- ing_tapered. The old market leader, Electric Bond & Share, maintained its initial ad- + vance. Cities Service, which ranked second in volume, opened lower, rallled and reacted. American Superpower, American Light & Tractlon, American Gas & Electric and Néthern States Power A also advanced. Pennroad Corporation * and Alleghany Corporation warrants both gained. Dresser Shares Improve. Dresser Manufacturing Corporation A and B shares improved as the com- pany confirmed an award of couplings for the construction of the main line of the 24-inch natural gas pipe line to be laid from the Texas fields to Chi- cago. Niagara Hudson Power rose fraction- ally following the calling of a special stockholders’ meet:ng for July 28 to ap- prove an increass of 5,000,000 shares of no par prefefred and 130,000 no par employes prefarred. United Light & Power A responded to the fiscal year @arning rts show- ing_profits of $2.37 a share, against $1.76 a share in the 1929 fiscal period. Vacuum Oil advanced 1% points to 823, by midday, following a statement that sales and earnings in the first four months of 1930 were about equal to the best corresponding prior period. Standard Oil of Indiana ranged frac- tionally. Indian Territory liluminating A shares declined a smeall fraction to & new low level. Taggart Corporation was the first industrial to hit a new minimum price for the year. Walgreen, Mirroring June Sales, eased a point. American ‘Tobacco new moved ahead and Merritt- Chapman and Scott Corporation pre- " ferred jumped three points cn a sale ©f 100 shares. The motor shares ignored news de- velopments. Traders talked more about current earnings and June sales and - eancellations than Autumn prospects. Ford Motor of Canada A faued to respond to a Winnipeg dispatch jell- ing of increased plant facilities for ‘Western Cana Franklin Manutac- turing Co.’s declaration, attributed to an official, that it wouid cut neither wages nor salaries, had no market effect. BONDS ON THE CURB MARKET. 0278 103% 9913 98% Asso Gas & E 528 ‘38 Ass0 G & £ 5'as 77, As Sim Hdw 6'3s s Tel Util 5125 44 C A5 & L 58 3 1 Cent St Elec 5'as 1 Cent St P&L 5'25 '3 7Cin St Car 5'2s A '52 9! 93 Cities Service 55 i6 Cities Service s '68. 3kmpire O&R 5izs 42 1Federal wai dixs 34 & o 5 Gulf St Util 55 A 56 100 1Hood Rubber 75 '36.. 2 s, §ntern Sec Am 55 HoruBte. 15 o 7 6128 31 . 95 1ag_ Shares 525 50 Norind P & 52D 68 15055 748 10012 10015 100° 32 ww 981y 9844 i 5 xw 107'a 107 ' 1071a sth Calif Ed 55 '51 10314 103'4 10313 4 South Calff Ed 55 '52 103% 103% 1033 ou 4" 94" 94 T Cuban Repub 55 '45.. Cuban Tel Tias A '4i 107 1 A 53 ww 83 6128 65 90 | i b ; 2 Gelsenkirchen 65 4 Ger Cons Mun 3Ger Con Mun 7s innes 6 x dney NEW 8las | ww—With warrants. | EeaWithout warrents. NEW YORK CURB MARKE Notice—All stocks are sold in one excepting those —Prev.1930,~ High. Low. Stock and 1 Dividend Rate. 3 5% Aero Supply (B). 23% 10 Aero Underwriter: 3315 16 Ainsworth (323%) 132% 10214 Ala Great Sou (17 4% 1% Alexander Indust. 5 3% Alleghany Corp war. 1 - erarSrRcaroonnatonn e Sommm m— 356 210 Aluminum Coof Am 99% 994 Alum Ltd cu pf(new) 8 3% Am British & Cont. 25 25 Amer Capital A(11% 13W 7 Am Capital pf (B)... 80 60 Am Capital prpf 5% 28% 12% Am CP&L(B)(10%) 28% 21% Am Com I'(A) b10% 50% 34!s Am Cwlith P(B)10% % W Am Control O1l Flds. 37 17% Am Cynam B (1.60). 6 3 Am Dept Stores. 22 12% Am Equiti . 76% 38% Am For Pwr(war).. 157 104 Am Gas & Elec (11). 109% 104% Am Gas&Elec pf(6). 16% 74 Am Invest. Ine (B). 89% 52% Am Lt& Trac (2%) 4% 13 Am Maricabo. 19% 7% Am Natural Ga: 39% 20% Am Superpwr (1 101% 94% Am Sparpwr 1st (6). 117 11114 Am TobacB(new)w.i 15% 7% Am U&Gen B vie 40¢ % 1'% Am Yvette (n) w 43% 15% Anglo Chil Nitrats 8's Appalachian Gas. 24 Ark Nat Gas (A). 5% Asso Eleo ind (30¢). 20% Asso GEE (A) 13.40. Asgo Gas&El ctfs(8) Al Coast Fish (1.40) % Atlantic Lobos < 3! Auto Music A(11.05) 7% Aviation Securities. 454 Borne Scrymser (2) . 85% Brazil Tract & Lt 2. 214 Bridgept Mach (25¢) 32% Bulovacv pf (3%).. 2% Burma Corp (131¢).. 2614 Carnation Co (1 794 C » 4% Centrifug Pipe(60c). 214 Chain Stores Dev. ... 9% Chain Stores Stock, . 17% Chat Ph Al n-v(50c). 17% Chem Nat Asson-v.. 10 244 Citles Service(330c) 12 88 Citles Srvo pf (6)... 14% Clev Tractor (1.60. 3 Colombia Syndicats 31 Colon Oil. 224 Colts Pat 19% 11% Comm Wat Serv b6% 33515 234 Com'with Edison(8) 40s 64 3% Com'with & Sou war. 51 1% % Consol Auto Merch.. 2 8% 3% Consol Copper...... b 244 Consol Instrument.. 1 10 Consol Laundrie: 13 70 Contl Shares pf B(6) 758 6 Cora Corp Co e 14 194 Corp Sec, Chi (b6%). 9% Corroou & Reynolds. 32 CosdenOil.......... 10% Courtaulds (50c) 5% Creole Petroleum. 16 Crocker Wheeler. ... # Cuban Cane pr opt 34 Cuneo Press (233)... 1% Curtiss Wright war. 12 Darby Petrolm n (2) 2% Daylon Alr & £ng... 4% Derby Oil Refining. 2 30 Derby Oil & Ref pf.. 50; 4% Detroit Aircraft. 5 12m Douglas Air (76¢. 71 Dow Chemical (2)... 31 Dresser(SR) A(3%). 81's Dresser (SR) B (2). 2% Durant Motors. . 18% Eastn Sta Pwr B(1). 88% Kast Util Assn.(2).. 9 Eisler Kelectrict1%) 70% El Bond & Sh (b6).. 103 El Bond & Sh pf (6). 92% Kl Bond&Sha cu pf(b 19 Elec Pwr Asso (1).. 16% Elec Pwr 100 Elec Pwr & 2814 Elen Pwr & L op war 15% Elec Shareholdg(31) 12 Empire Fire Ins.... 39 Emp Pwr pt (14.04). 17 Emp Pub Sv A(1.80) 22% Employ Reins(1%4). 12% Europ El, Ltd A(60¢) Fabrics Fininshin 4% Foltis Fischer Corp. 14% Foote Br Gr M (1.20) 28 Ford Mot, Can A t13% 10% Ford Mor.Ltd. 37%e. 10 Foremost D P pf 1.60 2% Fox Theater Cl (A). 6% Gen Alloys (80¢) 2% General Baking. 27 Gen Baking pf (3)... 27% Gen Fi'proof (12%). 75 Glen Alden Coal 9 Globs Underwriters. 3% Gold Coin (ne . % Golden Cente: 18 Goldman Sach TC... 6 1% Gold Seal Elec new. . 260 180 GrA&PTn-v(b).. 14% 10% Groo Stores Prod vte 49 29 Guard Fire Asso(2). 5% 3 Guardian invest.. 166% 11 4 46% 3 14 2 7% Gulf Oll of Pac1%). 18% Hazeltine Corp (2).. 26% Hormel (Geo) (2)... 3 99% Horn & Hard pf (7). 258 13 Houggon Ofl of Texas 25 7 Hudson BayM&S.. 4 78 HumbleOfl (2)..... 3 3514 Hydro Elec Sec (2).. 813 Hygrade Food Prod. 18% Imp OIl, Can. n(60e). 111u 011 (A) ind Terr Illu Ofl (B) ind #in etfs(b10%). ins Co, No Am (13) 4 Intercontinent Petn 17% Intl Petroleum (1).. 304 Intl Superpwr(31) 6% Internat) Util (B) % Interstate Equitie 12 Irving Air Chute (1). 100% Jer Cen P&Lt pf (7).1008 16% Kleinert Co (2%)... 1 109 2% 4% 1% Leonard Ofl... designated by the letter s (65s) which shows those stocks to N’-ll in odd lots only. ler— d 00. Open. High. Low. Close, 7 7 7 THE EVENING STAR, WASHINGTON, D. C., WEDNESDAY, JULY 9, 1930. hundred-share tots ol e 11% Libby M 344 38 7 107% 114 11 2 23 dine 105 1% =5 60 105 8 au 204 7 1 55 167 Mer Cha 80 Midland Monoga N Y Pet Noranda Ohio 011 3 26Y% 287 121 1% 4 31 Pag Pub Prince & Pub Ut Pure Oi1 Railway Roan Ani Rocklani St Regls St Regis Saxet Co 2 Schiff (T! Selected Stand O .aggart % U S Elec U 8 Foil 121 20% 10% 76% 5% Vacuum 61y W 4% 31 annual_payment 1% Ex-dividend. 1% Rate. A cNell & L. .. Lone Star Gas. n (1). Long Isl Light(80c) Long Isld Lt pf (7)., Louisiana Lan & Ex. Mangel Strs pf(6%). 8% Manning Bo B (50c). Marc Int M (5234¢).. Marine Mid (1.30). Mavis Bottling. Mead Johnson 13.15.., Memphis Nat G N Y Rio&Bu Alrel Niag H Pwrn (40¢). Niag Hud Pwr.A war No Am Aviat A war.. No Am Lt&Pr(b8%). Noth Euro O1l Corp, Nor Sta Pwr A(8)... North St Pwr p£(6). Ohlo Copper. Outbd Mot(A)( Outboard Motor (B). Pac G&El 1st pf 1%. Pantepec Oil. Param't Cab(b8%).. Parke Davis (11.55) .. Pennroad Corp (20¢) Peoples L&P, A 22.40 Petrol Corp war. Pie Bak of Am A (2). Pilot Radio Tube(A) Plymouth O1l (2) Prince & Whit Prudential Invest... 4 Rallroad Sh Cp(25c). Rainbow Lu Prod A. Rainbow Lu Prod B.. Reliance Manag. Repetti Candy. velt Field.Ine.. Ryan Consolidated. . Salt Creek Prod (2 s Schulte Un bc-31 St. Seg Lock & H (50¢) . Sel Ind allot cfs 6% . Sentry Safety Cont... Silica Gel Ctfs. Silver(Isaac) pf (7). Sing Mfg Ltd. rctsn., So Cal Ed pf B(1%). SoCalEApfC(1%). Southern Corp... Southland Roy (1).. Starrett Corp. Starrett Corp p: Stein Cosmetics. Steinite Radfo. Stetson (J B) (6%4).. Strauss Roth. . Stutz Motor Car. Sunray Ofl (40¢). Swift & Conew (2).. Tampa Electric Technicolor. In Teck Hughes . Toledo Ed cu pt (7). samer (11.60).. Tran Con Air Tran.. Trans Lux DL PS.. Tri Utdiith Triplex Safety Gl Tubsize Chatel (B).. Union Am Invest Union Tobacco Unitt Dry Dock: Utd Founde: 219 Winter (Benj).. 14'5 Zonite Products (1). " RIGHTS. % Hud Bay M&S July1§ 22 InsCoof NA 0 Dividend rates in dollars tPartly extra, eash or stock. b Payable in stock. d Payable Received by Private Wire Direct to The Star Offico 00, Open. High. 1 154 13% 4 36 37 & 8 (1.60) Mer Cha&S pt A C‘j: Met & Min, Ine(1.20) Mid Royity ev pf(2). Unit (b6 %) Mid Sts Pet v.t.c. A.. Mid W Sts Ut (1%).. Mid Wst Util(b8%). Mid Wst Util A war. Mo Kan P L (b10%) Miss KP L v.t. Moh Hud P 2d p! » WPP pf 1% . Moore Dr Forg A(6). Natl Amer Co. Natl Aviation..... Natl Fuel Gas (1). Natl Investors. .. Natl Pwr&Lt pf (6). Nat Sh Trm SecA 150 Natl Screen Sve(2).. Natl Union Radio. Nebel Oscar 1% . Nehi Corp (1.30) New Eng Pwr pf ). 101% 101% 14% 15 3ln 8 20% 891 11% 108 16% 4% 23%, 2% 65 24 143 100 % 66 12% 54 27% Royalty Mines (2).. s 5 100 5 65% 12 5% 274 26 26l 1% 154 % % 2 4iy 831 1% 30 4). ) Svo (1.30) 2 44 831 114 30 » 3 31w 6 26% 104 38% 18% Whitely 1., 1(3) Hold w w. pr(6).. s B o NN S 08 A B R 3 ~100 0 IR s BN O3 89S O ) 3 O I & LtS(16).. » = elope Min. . Lt&P(92¢) 4% Paper (1).. 22% 22% Pap pf (7). 400 Industries. & L, KY(11.80) ol 28% 18% 64 28% 28% Corp (1) 18% 64 291 6% 6% 109 109 21w 27% 7 7 PORTSUPRUPAIRTE 1T VTTUReTOrs - FAUIINN - JOTDPIRIIN. SRR P e, 814 44n ™ %4 2215 8% 4% % T 221 ) 16% 415 194 14% 6 93% 37 106 (31.20). % 16% a1y 18% 4% 6 931 361y Unit Profit Sharing.. Pwr ww (B) (1). U 8 Gypsum (1.60 U S&Intl Sec 18t (5). U S Lines pf (1).... U S & Overseas war. Unit Verde Ext (2).. Utility Pwr&Lt(al Utl] P&L B ctfs (a1) Utility Equitie Ofl (14%) Van Camp Packing. . Walgreen Co. & 22% 8 2% 14% 144 144 Expire. * & & 2% 2% 2% AR e AT - L SR VT I e based on last quarterly or semi- 1Plus extra in stock. a Pavabl To"Sreferred atock. ~ CHICAGO LIVE STOCK MARKET CHICAGO, July 9 (#) (United States Department of Agriculture).—Hogs— Receipts, 19,000 head, including 4,000 head direct; mostly steady on hogs scaling under 240 pounds and packing sows; heavy butchers around 10 lower; slow at decline: top. 9.80; light light, good and choice, 140-160 pounds, 9.50a 9.80; light weight, 160-20C pounds, 9.60a 9.80; medium weight, 200-250 pounds, 9.3529.80; heavyweight, 250-350 pounds, 8758945 packing sows, medium and good, 275-500 pounds, 7.40a8.50; slaugh- ter pigs, good and choice, 100-130 pounds, 8.50a9.50. Cattle—Receipts, 10,000 head; calves, 2,000 head; active; fully steady on light steers and yearlings, but nothing done weighty builocks; again bidding lower on kinds scaling 1,200 pounds under; early top, 11.40 paid for 1,189 pounds. Most weighty steers without bids: she stock mostly steady; scarce, slaughter cattle and vealers; steers, good and choice, 600-900 pounds, 9.50a11.75; 900~ 1,100 pounds, 9.75a12.00; 1,100-1,300 pounds, 9.50a12.00; 1,300-1,500 pounds, 5 common and medium, 600- 1,300 pounds, 6.25a9.75; heifers, good and choice, 550-850 9.50a11.00; com~ 150; cows, good and choice, common and medium, 65.00a7.25; low cutter and cut- ter, 3.7585.00; bulls (yearlings exclud- ed), good and choice, beef, 7.0088.50; cutter to medium, 5 5a7.35; vealers (milk fed), good and choice, 10.50a12.50; medium, 9.50a10.50; cull and common, 6.0009.50. Stocker and feeder cattle— Steers, good and choice, +1,050 gounm. 7.7529.50; common and um, .50a7.75. rangers mostly 11.00; top to outsiders, 11.10; fat ewes, 3.00a3.50; no feeding lambs sold. Slaughter sheep and lambs 90 pounds down, good and choice, 10.00a11.10; medium, 8.75a10.00; all weights, common, 6.00a8,75; ewes, 90- 150 pounds, medium to choice, 2.00a :l!.;llgizl:’l(l) ‘}'l‘lzl\(s. !rull and common, 100a2.50; feeding lambs, 50- s good and choice, 7.25a 00" s SILK FUTURES LOWER. NEW YORK, July 9 (Special).—Re- flecting disappointing cables from the Far East raw silk futures opened 2 to 9 points lower here today with sales at the opening call of 40 bales. Yoko- hama futures were off 10 to 24 points and Kobe unchanged to 17 lower. In :h-e‘ ;::‘el{ u"’l‘t‘k:m\?:nnu'h’ local market i v ]o;lw.n ons ranging from . SCHULTE-UNITED SALES. NEW YORK; July 9 (#).—Schulte- United 5 cents to $1 stores reported June sales of 82,164,460, with 101 units in operation at the end of June, an increase of 46.9 per cent over sales of $1,473,039 in the same month last year, when 71 stores were in operation. Sales for the six months ended June 30 total $11,783,250, compared with $6,086,727 in the corresponding period last year. GETS PIPE CONTRACT. NEW YORK, July 9 (#)—The S. R. Dresser Manufact; s ford, Pa. has Teceived o conrach 19 cou 1 llwll{u :meflt about 110 nm.l!:.l COTTON IS STEADY Slight Declines Follow Favorable ‘Weather News in the Belt. NEW YORK, July 9 (#).—Cotton opened steady today, unchanged to a decline of ® points under selling, which appeared to be in anticipation of fa- vorable features in the weekly report of the Weather Bureau and in reports of rain over night at Meridian, Miss. There was also some liquidation of July, attributed to the circulation of notices estimated at about 4,100 bales and that delivery sold off to 12.93 dur- ing the early trading, or 11 points net lower, while new October declined to 12.68. These prices brought in some covering, however, and the market was steady at the end of the first half hour with active months about net un- changed to 3 points lower. mvermol cables reported that Bombay selling had been absorbed by trade calling and continental buying and that there was a little more inquiry for yarns. A private report was published, making the condition as of July 1 73.2 and the indicated crop 14,450,000 bales. Sl R DIVIDEND REDUCED. NEW YORK, July § (#.—Directors of Cluett, Peabody & Co., Inc., yesterday reduced the annual dividend basis to $3 by declaring a quarterly payment of 75 cents a common . The stock the at IMPORT TAX PLAN STIRRING BRITAIN Snowden Calls Bankers’ Manifesto “Impudent” and Makes Light of Project. BY JOHN F. SINCLAIR. Nothing has stirred the British people in recent months as the bankers’ mani- festo demanding that England put a tax on all goods, including food stuffs, imported from outside of the British Bmpire. Yesterday, Stanley Baldwin, Conser- ' | vative British leader, agreed substan- tially to the program. Lord Beaverbrook, 51, born Max Aitken, son of a poor Nova Scotia preacher, but now a rich newspaper owner in Great Britain, is behind the move, with the backing of Lord Rothermere, 62, largest newspaper owner of England and broth- er of the late Lord Northeliff. What will happen? 1Is the free trade policy, which has made Britain rich and great, coming to an end? Philip Snow- den, chancellor of the exchequor, makes light of the bankers' manifesto. After saying he never heard of four of the bankers who signed the document, he ded : “Nothing so impudent as professing to represent financial opinion has been forthcoming since the notorious mani- festo of the tailors of Tooley street. Nevertheless, the great “protection within the empire free trade” fight has started. It may take years to settle, but whatever happens it's of vast and vital interest to American export business. 1y, trying desperately to produce enz\tu'g'h wheat with her territory to feed her 40,000,000 of population, is not apt o it this year. w}?fl‘ people znnsumr‘ about 250,000,000 bushels annually. This year's report indicates her crop probably will not ex- ceed 200,000,000 bushels. Heavy rains in Northern Italy, where most of her wheat fields are located, have cut down wheat prospects materially. f ‘While Italy is spending many millions of dollars in reclamation work, and eventually will produce all the wheat she needs for domestic consumption, it has been a costly job. The irrigation canals in Southern Italy are expensive and raising a bushel of wheat there will cost more than if it came in from the outside, but the aim of Italy under Mus- solini and the Fascist group, like that of a score of other European nations, is to become a self-cgntained, self-sup- rting economic unit. “Costs more, mt worth it,” is the cry. Italy has increased her import wheat duty several times since the Fascists FINANCIA STOCK AND BOND AVERAGES By the Associated Press. Prom Yesterday’ 5:30 Edition. STOCKS. Three years ago, weel High (1930) . Low (1930) ... High (1929) Low (1929). BONDS. 10 Industrials. 92.8 Two years ago ‘Three years ago, weekly aver. High (1930) . . Low (1930) . High (1929) . Low (1929). (Copyright, 1930, Standard Statistics Co.) GRAIN GOES HIGHER Reaction at Close of Day's Trading Fails to Wipe Out Gain. CHICAGO, July 9 (#).— Blistering heat and rainless skies withering the crops, especially in the Northwest, made prices jump at a lively rate today, both for wheat and corn. Reports at hand said that although very little black rust is yet showing on wheat stems, the in- fection is very heavy in some sections and that the wrong kind of weather would ruin much wheat within a few days. Spring wheat was said to be de- teriorating fast in parts of North Da- kota and in Canada, with damage re- ported in many western and central counties of South Dakota. After a rise of about 2!, from the day’'s low point, wheat reacted, closing unsettled, 3%alls up, compared with yesterday's finish. Corn closed at 74al7 net gain, oats 14a% nadvanced, and provisions un- changed to & rise of 17. . Low. Close. 883 .90%s 92 ‘921 9% 5% kit 68 July September December FOREIGN EXCHANGES. (Quotations furnished by W. B Hibbs & Co.) Nominal gold Selling checks value (or par). _ today. London, pound... ... $4.8665 $4.88 Tis took charge in an effort to bring about B this condition. | Free trade is having a hard time in} Europe, too. Still this news from Italy is a ray of sunshine for American wheat . i u growers. g Brazil is in a quandry! When she negotiated recently a $100,000,000 loan secured by coffee, it was estimated that her coffee surplus on June 30 last would be 16,500,000 bags. So 1,650,000 bags of the surplus was to be disposed of every year for 10 years. Simple! But now, instead of 16,500,000 bags, she reveals 21,000,000 bags on hand, 4,500,000 more than her “loan” esti- mate. ‘What will she do with it? The latest information is that she is seriously con- sidering destroying this extra 4,500,000 bags in order not to “spill the beans.” Yet no nation has a more strategic po- sition in any food product than Brazil has in the coffee industry, producing as she does nearly three-fourths of the world's supply. One writer, commenting on the pos- sible destruction of this coffee, says “wealth does not lie in producing com- modities and then destroying them.” ‘The International Telephone & Tele- graph Co. has taken a leaf from the book of the Swedish Match Co. in secur- ing telephone concessions in Europe. Its latest offer to the R govern= ment shows it. The I T. & T. Co, in return for the telephone monopoly in all Rumania, has offered $48,000,000 for the existing gov- ernment telephone equipment and, in addition, has agreed to make two loans of $4,000,000 each to the government, payable in five years. In addition, the government is to receive 4 per cent of the gross receipts of the local telephone company, and also 50 per cent of the surplus, after the payment of 4 per cent dividend to the Rumanian subsidiary of the I. T. & T. The majority of directors of the new subsidiary are to be Rumanian subjects and three directors are to be appointed by the Rumanian government. It is & stiff offer! The I T. & T. made it against the strong opposition of two European groups, the German firm of Siemens & Halske and the Swedish firm of Ericcson & Co. Foreign nations, one by one, are trans- ferring control of their telephone sys- tems into private hands, but at prices which give the governments substantial profits from the gross receipts in the future. The present government and Parlia- ment orRumnnLn are friendly to Amer- jca. So is their new King. So the Rumanian Parliament ratified the agree- ment and the King signed it yesterday. (Copyright, 1930.) . PR by Grasiriliey FINANCING HEAVIER. NEW YORK, July 9.—Corporate financing for the month of June totaled $768,600,000, as compared with $766,- 700,000 in the like month last year, compilation by Standard Statistics Co. shows. Bond offerings were 85 cent eater than in June, 1929, while offer- ngs for stock showed a sharp decline. Corporate financing for the first six months this year amounting to $4.815- 100,000. compared with $6.524,500,000 in the corresponding period last year. STOCKS EX-DIVIDEND. NEW YORK, July 9 (#).—Stocks ex- dividend today: Pe- Pay- Company. . riod. abie. Detroit Michigan St 2 lec Ce DIVIDENDS. NEW YORK, June 9 (#).— Winnipes v- Hldrs. of ble. record. Canad Drds & Do pf .........30.78 W_Pb Ber pf 3175 t § (8t. L), 25¢ EEEEEERE555nnamn: Lensings Columbian Oarb. .. A Nat Co (Toledo). 20c Midl Nat Gas A. 30c @ A N C&St L Ry n..§2.50 SBA A Resumed. «81 — July 31 Increased. Proc & Gamble....60c @ Aug. Reduced. & Co..75¢c Q Aug. & Heat Prod..25c Q Au. Omitted. ping.. 45¢ Q b1..17%6c Q Q O Jide'db i July 19 Nat Licorice.. July 12 15 July 25 July 21 July 18 Due July 1 Geom Stam Schl Lk 1% Due June %0 Gop. e Gslo”_crown... 2679 Stockholm, crown.... 36.8c 26.88c NEW YORK, July 9 (#).—Foreign demand, 4.86!4; cables, 4.86'3; 60-day bills on banks, 4.84'4. France, demand, 3.93 5-16; cables, 3.93 7-16. Italy, de- 233, cables, 5.233. nds—Belgium, 13.9614; Holland, 40.18'3; Sweden, 26.86';: Den- Switzerland, 19.42; Greece, 1.29%; Poland, Czechoslovakia, 296'2; Jugo- 1.77'4: Austria, 14.12; Rumania, 2; Argentine, 36.1215; Brazil, 10.95; Tokio, 49.40; Shanghai, 36.62'2; Mon- treal, 100.00, Great Britain dollars, others in cents. Ger- Nor- 1 slavia, 59 PRODUCE EXCHANGE. NEW YORK, July 9 (Special).—Se- curity trading on the produce exchange today was again in the doldrums. Irving trust shares were the only active issue, running up to 47% or 15 point higher, Detroit and Canada Tunnel at 6 d Photocolor_at 773 were both off frac- tionally. International Rustless at 1% was unchanged. POULTRY PRICE FIRM. CHICAGO, July 9 (#).—Poultry, alive —Receipts, 2 cars, 22 trucks; firm: fowls, 22; Springs, 28; broilers, 20a23; roosters, 14; turkeys, young, 18: old, 15; Spring ducks, 13a16; Spring geese, 16. i Rail Stocks (This {5 the fourteenth of a_series of brief anaiyses by Georg Hughes on railroad securities. recommend the purchass of particular stock, but to give the such information as may enable telligently to chart his own course.) investor’ Rim in Chicago, Rock Island & Pacific. Up to this year the Rock Island has made steady progress since the re- organization in 1917. All the bonds now enjoy a high investment rating, the preferred stocks are sound and the common stock has a large following. | During the first half of 1930 earnings have fallen off, as they have for nearly every other railroad. and the margin of safety for the common dividend has been lowered correspondingly. Never- theless, the Rock Island has made a good showing. In April, for instance, net operating income was the highest for that month on record and from the present qutlook between $10 and $11 will be shown for the common. This estimate will, of course, be re- vised upward or downward, according to_the trend of traffic. Probably the most interesting of the bonds is the 4!2 per cent convertible issue of 1960 offered to stockholders in March of this year. On and after May 1, 1931, these bonds will be con- vertible into common stock at 125, a price much above the present market, but one which might easily be reached in more prosperous times, in which case the bond would reflect in its market quotation the conversion privilege. Meanwhile, the holder is sure of hi 415 per cent. There are two issues of preferred stock, a 7 per cent, redeemable at 105, and a 6 per cent, redeemable 102. Both of them are attractive from an income standpoint, but neither can be expected to advance much above the price at which it is callable. The pres- ent dividend rate on the common is $7 annually, to which basis it was in- creased in March, 1920. No dividends were paid on the junior shares from 1917 to March, 1927, when the stock was placed on a $5 basis, increased to $6 in March, 1928, and to $7 a year later. Working control of the Rock Island is understood to rest with the St. Louis-San Francisco, with which road the Rock Island is associated in the latest Interstate Commerce Com- mission consolidation plan. 1t only remains to add that the man- agement is experienced and aggressive and that the territory aerved‘ is one with vast possibilities for growth. e PRODUCE QUOTATIONS. NEW YORK, July 9 ().—Flour firm; Spring patents, 5.15-55: soft Winter straights, 4.50-80; hard Winter straights, 4.65-505. Rye firm; No. 2 Western, 56% f.o.b. New York and 55 c.i. domestic, 64 c, DRY GOODS QUIET. NEW YORK, July 9 (Special).— Goods markets were quiet today. Print cloth quotations remained unchanged at 53 for 64x60s and at 61, for 68x732s. Raw silks were quiet and unchanged. s 1 T s¥s A8 CHICAGO STOCK MARKET By the Assoctated Press. i CHICAGO, July 9.—Following is the complete official list of transactions in stocks on the Chicago Stock Exchange today: . Sales STOCK! 100 Addresso Tnter All Am: - ol .85 h. Low Close. e 200 of ' A0S I3 4l !A“‘ 1%, 00 8300 Auburn_Aute 00 Banco Kentucky Bendix o Aviation 3 29SS sre.zzysEa. 2 s T T g 5 32 en 1000 Chi City & 0 ghi_ Eity 5 v W n_Ry. C Ry pt IR 3 &8 =_n:f§_?-“ o : . - *’f SRS T Tt E R I R I & Houdaille-Her 100 Ind Ter Tilum 1330 Inland U1 .. 3430 Insull_ Tt 1300 Iron _Pireman 50 Invest Co_of Am 130 Jeflerson Elec . .50 Kalamazoo SR AR S S EES e et i & F5 T I EREEE W EEE b ot I3+ttt Inv... at Secur Inv ctf 1350 Nat-Standard cmamasaris LI et e 1000 No West Bancorp. 12 Oshkosh Ove v e B 23852822 SEE R u = FEF -, CDE 1o P ) = E; & FEE SaiBe 55 peEs,, [ o =2 P F SaELB0EE0 8 Cup ahl . 7950 Wisc Bank Shares. 100 Zenith Radio Btock sales today, 13000 Insull 6s 2000 Albuquer G South Union Bond sales today, .. TREASURY CERTIFICATES. (Reports ’u_r‘o“;glwl & W. Seligman .g. 7-32 } ?' b! il The Peirce-Johnnot-Nichols House in Balem, Mass.,, is considered to be the finest wooden residence in America. W. R. Wearham of Dulwich, England, gx‘.'yei"" invented a portable piano " fre-e wheelng /s coming/ Driving becomes a thrill beyond belief! — You don't have to touch the clutch except to start or back up! Bl Your car momentum never forces your engine---no sen- sation of “piling up” when you lift your foot from the throttle - - -you glide alonq without a sound. STUDE Builder of BAKER" SIS e Gl