Evening Star Newspaper, July 10, 1930, Page 15

FINANCIAL. GURB LIST STRONG * INACTIVE TRADING Utility and Petroleum Shares " Lead Market in Up- swing Today. | ) b ' ) BY JOHN A. CRONE. NEW YORK, July 10.—Continuing | the ssltvity that marked the opening| stocks on the Curb Exchange today, showed price improvement as trading progressed. Public Utility and Petroleum shares ‘were favored on the upside while trusts, Natural Gas shares, and miscellaneous industrials displayed some irregularity _ around midday. Electric Bond & Share opened up, reacted and then quickly rallied. Niag- ara Hudson Power maintained its in- itial gain. This was also true of Amer- jcan & Foreign Power & American | Gas & Electric, but American Super- * power and American Light & Traction slipped below their best early levels. Vacuum Oil Feature. Vacuum Oil featured the Standard Ofl group as it rose about three points on more than usual activity. Ohio Ofl, which has asked its holders to ap- prove the transcontinental ofl merger, advanced fractionally. Cities Service was one of the few active miscellaneous ofls that most of the time held below its opening quotation. Investment trusts were unsettled by the weakness of Transamerica Corpora- tion, which hit a new low in the morn- ing, but when it later rallied somewhat the group recovered in the fourth hour. Alabama Great Southern preferred proved to be the weak spot in dull rail trading, as it toppled 8'% points to & new low level at 120. Pennroad Cof- poration In early trading ' was un- chan, ged. Armstrong Cork broke 6% points to & new low mark following the offering of $14,931,000 of 10-year 5 per cent convertible debentures, which are to be used for retirement of indebtedness in- curred in expansion. Molors Trading Checked. Prospects of further price reductions checked trading in the motor group. + Even the Ford group, which had the benefit of an unofficial report that Ford had purchased Isotta-Fraschini, re- mained dull. Bridgeport Machine was stimulated by the announcement that six months per share earnings equaled 91 cents, against 63 cents in the same 1929 period. .. Dresser Manufacturing A shares again . were bid up on the strength of their ~ recent big coupling order for natural gas pipe lines. ) Great Atlantic & Pacific Tea rose 7 points on a few sales, but most of the food shares, including Hygrade Food Products, moved lower on a small turn- over. —_— JORDAN MOTOR LOSES. NEW YORK, July 10 (#).—The Jordan Motor Car Co. reports & net loss of $262,695 after depreciation and charges for the quarter ended March 31, against a profit of $57,508 in the similar period of 1919. BONDS ON THE CURB MARKET. Salesin DOMESTIC BONDS: thousands. High. Low. 5 Alabama Pow S5s '56.. 1027, 1027 43 Alab, P ‘87, 974 97h Close. 10278 as 3 Util 535 44 C 95% C 53 1 38 Gulf OIl Pa bs 47, 1013 6Gult 8t Util 55 A '56 99'z P B 101} ) 4738 '67.. 95 ag_Bheres 5las PS5 B 3 8cripps 5'as '43... . 15haw WP 4125 A 38haw W&F 4135 B 18haw's 55 C 'T0 51 1034 3 Sou Cal Gas 55 A 37100 L b 79 nion Ofl Cal bs 35 A o EEL 5 '52 s A '52 s 135 A5 Ves Penn 5s 2030 wi 89 Ves Tex Ut 5: A '75. 92 o Sl 5 ol 1 Bouthwest N A 8 Gas 96% 95 FOREIGN BONDS. 9 Agr Mtg Bank 7s ‘47 87 24 Berlin Cy E 65 '55 wi Bogot M Bk 7s 47 n e V80 53 el 28 Brisbane City © ME 855 A '53 Wi 4 Europ EI Cp 68 63 B s 6 Bantisgo Chile 75 4 Santiago Chile 75 8ydney NSW 813 '35 Terni o A,33 85 it Indust 4138 '41. ni-Rew k2 . o NEW YORK CURB MARKET Notice—All stocks are sold in one those designa (65s) (’m ted by the letter s 2 sold tn 04d fots only. Sales— Add 00. Open. Hish. Low. m‘z T 7 7 which shows those stocks to be sold in Aero Supply (B). Alr Investors v.t e Air Inv, Ine, cv pf. % Am British & Cont.. Am Br B fd shars. .. Amer Capital A(11% Am C P&L(B)(10%) Am Com I’(A) b10% Am Cynam B (1.60). Am Equities. Am For Pwr(war).., Am Gas & Eleo (21). Am Gas&Elec pf(6). Am Invest. Inc «B) Am Lt & Trac (2%) Am Maricabo. Am Natural Am Superp: ) Am Superpwr pf (6) Am Sperpwr 18t (6). Am TobacB(new)w.d 16 Am Transfor (1.40). 100 Am U&Gen B vte 400 Am Yvette (n) wd... Anchor PF (b10%). Anglo Chil Nitrat Appalachian Gi Ark Nat Gas (A). Ark P&Lt L (T7).... ArmstrongCork t23% Asso Dyeing & Ptg. . Asso Eleo Ind (30¢c) Asso Gas & Elec G&E (A) 12.40. Gas&El ctfs(8) o Rayon pf (6).. Asso Tel Utll (b8%). Atlas Plywood (2).. Atlas Utll Corp..... Auto Music A(11.05) Aviation Corp of Am BancomitCorp(1.60) Bell Telof Can (8).. 800, Blue Ridge Cp (40e) . Blue Ridge cv pf(ad) Bower Roller Bear. Brazil Tract & Lt $2. Bridgept Mach (25¢) s 9 [T LTSIS -y PYN =t T PSS Buft N&EP pf(1.60). Bulova cv pf (3%).. Burma Corp (t31¢).. % Cable&Wire (B) rets Cab&Wire pf(27%e) Canada Marcont Chem Nat Asson-v. 16 Cities Service(130¢) 256 Colombla Syndicate.. 6 Col Oll & Gas vtc.... 25 Columbia Pic ($1%). Colum Ple v.t.c. 313 . 4 Comm Wat Serv b6 % Com'wlith & Sou war. Consol Auto Merch. . Consol Copper...... Con Gas, Balto(3.60) Con Gas Util A 2.2 » N P - SUPRUTIEY VT Contl Chicago Cor| Contl Shares pf (6, Copeland Prod.Inc A Cord Corp. . Lee Corp Sec, Chi (b6%). Cor & Rey pf (A)(6) Cosden Oil..... Creole Petrcleum... Cuban Cane pr opt w Cuneo Press (2%)... Darby Petrolm n (2) Dayton Air & Kng.., Deere & Co (11.20).. orest Radlo. ... Detroit Afrcraft.... Doehler Die Casting. Douglas Air (76e) Dow Chemical (2) Draper Corp (15) . Dresser(SR) A(3%). Dresser (SR) B (2). Duke Power (35)... Dugquesne Gas Cp Durant Motors Eastn G&F Asso. Eastn Sta Pwr B(1). East Util Assn (2).. Eastn Uti] Llov (A).. Eisler Belectric(1%) El Bond & Sh (b§).. El Bond & Sh pf (6). El Bond&Sha cu p2(5 Elec Pwr Asso (1).. Elec Pwr Asso A (1) Elen Pwr & L op war Elec Shareholdg(31) Empire Fire Ins. .. Engineers Gold. Bureka Pipe L ( Fabrics Fininshing, da = B 1 - 50 > - - A P RN HARNNE R A HREN BB MG RN ~ROD BN N Flat Stock deb rts. .. Fokker Atrcraft.... Foltis Fischer Corp. Ford Mot, Can A 1% Ford Mot,France 28¢c Ford Mor.Ltd 37%e. Foremost Dairy Pr.. Fox Theater Cl (A). eral Baking. Baking pf (3)... Gen E. Ltd rcts(50¢) Gen Fi'proof (12%). Ga Power pf (6).... Globs Underwriters Gold Coin (new).... Golden Center. . Goldman Sach T C. Gold Seal Elec n Graymur Corp. GrA&PTn 1) 2 Gulf Ofl of Pa(1%). Handley Pag pf t15¢ Happiness Candy... Hecia Mining (1)... Houston O1] of Texas 26 Hudson Bay M & 8.. Humble O1l (2)..... Hygrade Food Prod. Imp Ofl. Can. n(50e). 4 Imp Tob GB&I(1%). (nd Terr 111u O1] (A) Ind Terr Illu O1l (B) Ind #in ctfs(b10%) . Insull Util Inv tb9% insurance Sec(1.40). Intercontinent Pet n Intercont Pwr war, .. int] Petroleum (1).. Intl Superpwr($l).. Utl (B)...* Corporation News NEW YORK. July 10.—The following is a summary of today's important cor- S e wea aFnSRanarneed aronanaar. 1 L L T 1 ) ard Statistics Co., Inc., for the Associ- ated Press: News Trend. Automobile production during June in United States and Canada totaled 343,- 00 units. according to National Automo- bile Chamber of Commerce. " Total is 22.3 per cent below output in May and 39.5 per cent less than in 1929 month. Six months production is placed at 2,- 322,211 units, 32 per cent below output in like 1929 period. Corporate news is unfavorable. Mont- gomery, Ward & Co nounced drastic price reductions on all articles handled in their retail stores. The 1930 Fall and Winter catalogue also will contain sharply lower prices. Sears-Roebuck quotations in 1930 Fall and Winter booklet are reported to be the lowest in 10 years. Dividend reductions were » |made by Arizona Commercial Mining and Art Metal Works. The Companies. Arizona Commercial Mining omits 25- aent semi-annual dividend due at this me. Art Metal Works reduces quarterly dividend to 25 cents; formerly paid 75 cents quarterly. Chicago-Great Western Railroad pres- | ident states net will be increased about $500,000 annually by rate revision, equivalent to about $1 preferred share. Chicago & Northwestern Railway— Higher rail rates to add $1,750,000 an- nually to road’s earnings; equigalent to $1.10 common share. " Commonwealth & Southern June THE EVENING STAR, WASHINGTON, D. C, THURSDAY, JULY 10, 1930. Mo Kan Pring 110% 18% 8% 14% 5 % 5% 64 2% 3% 3 8% 33 16% 16% 187% 35 24% Al 9 7 Spanish Swift & U S Lin 21% annual payment. 28 eash or stoci Leonard Ofl g Libby McNef Liberty Baking. . Lion O11 Refin (2)... Lone Star Gas, n (1), Long Isl Light(60c) Long Isld Lt pf (7).. Louisiana Lan & Ex. 4 Man-Bowman(A)1% Mapes C Mfg (133 ) Marc Int M (523¢) arine Mid (1.20) s Bottling. mphis Nat . Mercantile Stors (5). MerCha&§ (1.60).. Mer Cha&sS pf A 6%. Mesta Mach (11.80).. Met & Min, Ine(1.20) Met Chain Stores. ... Met 5¢ to 60c S (B).. Mid Sts Pet v.t.c. A.. Mid Wst Util(b8%). Mid Wst Util A war. Mid Wst Util B war. Miss River Pwr pf. . Pltney B P.n (30c) 4 Plymouth Ol (2). 4 Poterero Sugar. Premier Gold (34c).. & Whitely 1., Prince & Whit pf(3) Prudential Inv Pub Utll Hold w w.. Pure Ol pt (6) Rainbow Lu Prod A. Rainbow Lu Prod B.. Reynolds Invest. Ryan Consolidat Safety Car H&L (8). 100 St Regls Paper (1).. 3 Salt Creek Prod (2).. Seaboard Util (50¢c). Selected Industr! Sel Ind allot cfs 6% . Selfridge Prov S 27¢. Sentry Safety Cont.. Shattuck Den Min Shenandoah Corp. Shenan Corv pf (23). Silica Gel Ctfi . Sisto Finance Corp.. Smith (AO) (2).... South Penn O11(12%) So Cal Ed pf B(1%). Southern Corp...... Southland Roy (1) Tampa Electrio (33) Technicolor. Ine. ... Teck Hugh ‘Thatcher Sec Corp. ‘Thermoid Co pf (7).. Trensamer (31.60).. 6. ‘Tran Con Air Tran. . ‘Tri-Cont Corp (war) Tri Utilities(31.20).. Tung Sol Lamp (1).. Un Nat Gas, Can 1.60 Union Tobaceo...... Unit Car Fastnr(60c) United Corp (war).. Utd Founders(b3.35) United Gas Co (new) United Gas (war)... United Gas pf (7)... Utd Lt & Pwr A(1).. Utd Lt & Pwr pf(8). U S Dairy (A) (6 U S Elec Pwr ww, U S&Intl Sec 1st (), U S & Overseas wa U S Radiator (2).... Utility Pwr&Lt(al). Utility & Ind. ... Utll & Ind pf (1%) Vacuum O1) (t4%) Venezuela Petrolm Vick Financial Cor: Walgreen Co. . 4 Walker (H) (1). Walker Min (7%0) Wil-Low Cafeteria, Wilson Jones (3) Worth, Inc (A) “¥” 01l & Gi Zonite Products (1). RIGHT! & 3% Intl Nickel w.i... & Dividend rates in dollars based on lsst ausrterly or semi- *Ex-dividend. tPartly extrs. k. able in K payable 1o stock. " d Fayabie ‘In preferred stock. [ Received by Private Wire Direct to The Star Office Bales— Add 00. Open. High. DL 14 1% i 40% &L... 0 1 PL(b10%). 1¥ Miss K PL v.t.c. Moh HP 1stpf (7). Moore Dr Forg A(6) % Municipal Service. Natl Amer Co....... Natl Aviation. “ee Nat El Pwr A(1.80)., Natl Investors . Natl Leather “er Natl Rub Mach (2).. Natl Screen Sve(2).. Nat Sh Trm SecA $50 Natl Transit (1) Natl Union Radlo. Nebel Oscar 1% . New Eng Pwr (2 Newport Co (2). N Y Pet Royalty N Y Pwr&Lt pt( N Y Tel pf (6%)... Niag H Pwr n (40¢). Niag Hud Pwr.A war Niag Hud Pwr B war Niles-Bem-P (12%).. Noranda Mines (2).. No Am Aviat A war,. No Am Lt&Pr(b8%) . Noth Euro O11 Corp Nor Sta Pwr A(8). % Ohlo Copper. Ohio Oil (4). Outboard Motor (B). Pac Pub Sve (1.30).. 2568 COMMODITY PRICE BOLSTER SOUGHT Government Officials Feel Not ANl Price Cuts Have Been Passed to Consumer. BY J. C. ROYLE. Considerable pressure is being brought to bear on Government officials and agencies for action to stimulate the rise of commodity prices. Other influences equally strong are being exerted to have | Government officlals keep “hands off” and allow the situation to adjust itself. The drop in commodity prices is factor in the general business situation. The lowering of commodity quotations, distribution ~ specialists declare, has caused a check to buying. Buyers take the attitude that there is small need for them to rush into the market, since( there is .but a moderate demand from ultimate consumers and they feel confi- | dent of being able to fill requirements when and as they choose and on their own terms. Not Passed to Consumers. It is the feeling of a good many Gov- ernment authorities that the drop in wholesale prices of commodities and Taw materials has not been fully passed on to consumers. When this takes place, they assert, it will stimulate retail bu; ing, which in turn will increase the vol- ume of retail and wholesale trade and production and thus serve to advance commodity prices. Many producers do not want to wait for that. They assert that some com- modity prices now are below the cost of production, and they want action taken to bolster quotations to a point where the Producer will make a profit. Others declare that any such stimula- tion by Government sources can be but temporary, and that when the artificial support is withdrawn a renewed price deciine would follow. They also point out that consumers will be careful to see that their buying will not act to raise prices against themselves, until the demand from the ultimate consumers is 1% | so insistent that the prices the retail distributor pays is a matter of reduced importance. None the less, demands for assistance have been made by wheat growers, sil- % | ver producers, cotton planters and a & Gen Reg.. Stand Inves pf(6%). Stand O11, Ind (2% ). Stand Oil, KY (11.80) Stand Oll. Ohlo(2%), St Oil, Ohlo pf (7)... 10 Co new (2).. (60e) .. f (1) T SPPPRITDTE . T = e o= enhses o Expire. 1 * 1Plus extra in stock. electric output off 6 per cent from year ago; six months, down 2.8 per cent: 12 months, up 2.2 per cent. June gas output off 4.7 per cent; six months, up 1.1 per cent; 12 months, up 6.9 per cent. First National Stores sales five weeks poration news prepared by the Stand- |0 June 28 up 10.1 per cent; 13 weeks, up 10.8 per cent. Illinois Central Railway—About 44 per cent of mileage affected by Western trunk line rate decisfon. Loblaw Groceterias, Limited, opening two new stores in Ottawa and one in Toronto, bringing total to 98. United | States subsidiary has 119 units. MacMarr Stores June sales off 6.1 per cent; six months, 5.6 per cent about year ago. In June operated 1,405 stores | PTofl! and 459 markets, against 1,356 stores and 262 markets year previous. Montgomery Ward & Co. reduces prices on all articles handled in retail stores. Partial payment plan has been extended whereby mechandise (except- ing groceries) can be bought on easy payment plan on orders of $25 or over. Niagara Hudson Power proposes cre- ating 5,000,000 shares no par preferred, to be issued from time to time, and 150,000 employes’ convertible preferred shares, to be sold at $100 a share. mgon;xdnhr hftnfxs. Limited—Output of les in first six months $5.800,000, estimated at Paramount Publix reported planning skyscraper and larger motion picture theater for site of present Criterion and New York Theaters, New York City. Pierce, Butler & Plerce Manufactur- ing had deficit of $219,285 in 1929. Sears, Roebuck & Co.'s new Fall and Winter general catalog will contain lowest prices in 10 years, ars, buck & Co. reported sales for four weeks ending July 16 will show larger decline than 7.4 per cent shown in previous period. itudebaker Corporation introducing new President and Commander eight- cylinder models; prices range from $1.495 to $2,050 on six-cylinde. models new range is $795 to $995. United Gas Corporation with United Gas Co,, to be voted on by stockholders. ‘Wall Street Hears: That directors of Gillette will meet soon to review tie earnings of the first half year, and that the dividend is in no danger. It is understooi second quarter compared favorably with first, nmi management is optimistic over out- ool That Drug, Incorporated, has been enjoying a larger volume of business with some improvement in its margin of ‘That Union Carbide is expecting some improvement in earnings in the second half, but that the total 1930 net will probably not equal 1929. That recent selling of du Pont has come entirely from speculative quarters, and that interests close to the company have been accumulating the stock for long-term holding. COMMODITIES DROP Fractional Decline Recorded by Census Bureau Statistics. Wholesale commodity prices averaged a fractional point decline during the week ended July 5 as compared with the previous week. The following figures, compiled by the Census Bureau, give the level for comparable periods based on representing 1925 prices as 100, In ad- dition, selling price for a ton of com- posite steel is -lsxurlven: % ] Week ended July 5 ""fi’_fi . l‘g‘ .3 8. grevious weel me week dozen other lines of production. The Federal Farm Board has indicated it will dash into the market for 1930 crop wheat or cotton. 8o far the aid to sil- ver producers from governmental sources has consisted of attempts to find new uses for the metal and so stimulate consumption. The Federal Reserve Board has not sponsored the support of the commodity markets by Federal Re- serve funds. ‘Wage Cuts Discussed. ‘There is some discussion of wage re- ductions paralleling the advance in real wages and in the buying power of the dollar, but it is conceded by large em- loyers that this is one of the last steps likely to he taken. Skilled laborers are Lveruln!' for the country as a whole around 67 cents an hour, with unskilled men gett! between 50 and 51 cents. ‘The eral average is nearly 60. To cut off that buying power or lessen fit, labor leaders point out, would be to de- feat the very aim that producers and hirers of labor have in mind—namely, to stimulate retail buying. CHICAGO STOCK MARKET By the Associated Press. CHICAGO, July 10.—Following is the complete official list of transactions in stocks on the Chicago Stock Exchangé today: Sales. STOCKS. 100 Adams Mfs... 100 Ainsworth M1 100 Allied_Mot 1Ind. High. Low. Close. LT3 a0% 3t 0 28 * 1% 11 a6 " tn Auto. 850 Bastian-Blessing 3200 Bendix _Aviation 1t 200 Great Lakes Dredg 15300 Grigsby Grunow 200 Hall Print 100 Hormel & 750 Houdallle-Her B '] 27 Jnd Ter Tllum Ol Inland Ul . Manhat Dearborn Marshall Field .. v 0 850 Modine onighan 100 Morgan Litho. 211 Mosser 00 \ 00 200 Nat_ Term. . 830 Noblitt-Sparks 50 North Music. ” 25 Quaker Oats pf. 250 Rallroad Sh ... 200 Re! 1 verson 50 Saxet ..., 450 Seaboard " Gitii BB 8an 250 Eotmnss. cantusis 46000 Insull 6s '40. fHH o R i 500 South Bond- sales todes, 468,000, FINANCIAL. STOCK AND BOND AVERAGES By the Associated Press. WEDNESDAY, JULY 9. STOCKS. 50 Industrials. Two years ago Three years ago, weekly aver. High (1930) . Low (1930) . High (1929) . Low (1929). Today. .. Previous day Week ago. Year ago. Two years . . Three years ago, weekly aver. High (1930) . Low (1930) . High (1929) . Low (1929). WHEAT PRICES YIELD Early Upturns Are Offset by Sell- ing Pressure From West. CHICAGO, July 10 (#)—Influenced by selling pressure from the South- west, Whete the harvest was reported as showing enlarged ylelds. wheat prices underwent dectded setbacks today after early upturns, Kansas dispatches said the northwest part of the State was reporting ylelds of from 41 to 55 bushels of wheat per acre. In some quarters, too, the Government crop report this afternoon was expected to make a more or_less bearish showing. Wheat, closed nervous, 1! a_ bushel lower than yesterday's finish. Corn closed % cent off to 7 cent up, oats, 13als cent advanced, and provisions varying from 12 cents decline to & rise of 15 cents. WHEAT— July ... September ecem| CORN. Sept. December . e i COTTON GOES HIGHER Firm Liverpool Adivces and Dry Weather Are Factors. NEW YORK, July 10 (#).—Cotton opened steady today at an advance of 3 to 9 points in response to firm Liverpool cables and reports of continued high temperatures and dry weather over the greater part of the South. ‘There was some July liquidation, probably incident to the circulation of notices estimated at about 6,300,000 bales including deliveries at Savannah, which sent the price off from 13.15 to 13.06 during the early trading, but new crop positions held fairly steady with new October contracts selling up to 12.85, or 7 points net higher, while the new December at 13.03 showed a net advance of 11 points. Liverpool cables said there had been local and continental buying in the that market and reported a better feel- ing in Manchester with more sales of cotton cloths to India and China. STOCKS EX-DIVIDEND NEW YORK, July 10 (#).—8tocks ex- | dividend today: ! Company. i % Abitibi Pow & Pap 6% pf..31.80 | Co Q July 19 58283 20’ 0ER000000T0000 ce Co Pitts, Cinn, Chi & St L RR Revere Cop & Brass pf Rio Grande Oil. Roovers_ Bros United Retails Gheis Bt .. 47 Wichita Union Stock Yds ptf. =i 3353 POROPOBP: s R China has 225 to the square ‘Tlue: gnpun has s%e‘oph ™ an 2. 24-Hour Parki g i Money to Loan ed by first ‘l::“l"l‘;‘l" real estate Joseph 1. W“eller o "‘.'k-'i K REAL ESTATE LOANS Made at Low Interest Rates TYLER & RUTHERFORD lflml‘.l.l invited an tll- rtment: wellings, an IE- !n'r"l, 5 or 10 yea r o e 1526 K St N'W." " National 0475 Aoecan TeEPHONE AN TELEGRAPH Compay 163rd Dividend Tue usuhr quarterly dividend of Two Dollars and Twenty. Five Cents (82.25) per share will be paid on July 15, 193& stockholders of record at the close of business on June 20, 1930. H. BLAIR-SMITH, Treasurer. Money on Hand to Loan o First Deed of Trust 69, Interest Reasonable Commission and Prompt Replies to Applications JAMES F. SHEA 643 Louisiana Ave. NW. 6% LOANS | ON HOMES and Business Property Run for 5 Years Without Curtailment Wm. H. Saunders Co., Inc. Founded 1887 District 1016 1519 K Loan Correspondent for the Provident Mutual Life Insurance Philadelph Compagy \ SRR SRR ROBERT V. FLEMING, President of the Riggs National Bank, who has been appointed on a special committee to study bank reserves by the Management Commission of the Ameri- can Bankers' Assoclation. Mr. Fleming has already served on several important A. B. A. committees. NEW SECURITIES NEW YORK, July 10 (#).—New se- curities offered today include: State of Arkansas, $18,000,000 43 per cent bonds, to yield 4.60 per cent, by Halsey, Stuart & Co. and syndicate. Reading Co., $15,000,000 4> per cent A—15 EXCHANGE SUSPENDS SUTRO BROKER FIRM New York and San Francisco Con- cern Barred From Trading Three | Years for Sale Activities. By the Associated Press. NEW YORK, July 10.—The New York Stock Exchange today announced the | suspension of Sutro & Co. of New York |and S8an Francisco for three years. | The governing committee explained that the substance of the charges against the member was that “through the manner in which the Porty-fourth | street (New York) branch office of | Sutro & Co. was conducted transactions to buy and sell the same security were executed at the same time and at the same price and in the opinion of the governing committee did not involve a change of ownership.” l:] statement issued by Sutro & Co. said: “Charges on which the actions of the Stock Exchange were based were wholly in connection with transactions on be- half of a client, Charles H. McCarthy, in Manhattan Electrical Supply Co. stock, all _of which originated in a branch office, 16 East Forty-fourth street, New York City, which was in charge of Brinton Buckwalter, who re- signed June 24, 1930." PLAN HUGE BUILDING. Stone and Webster to Erect 50- Story Structure in Financial Area. Special Dispatch to The Star. NEW YORK, July 10.—With the cloud-piercing Bank of Manhattan Bullding hardly completed and large corporations gathering plots of land for large buildings everywhere in the Wall street district, there comes today the announcement of yet another 50-story structure in the financial district. Stone & Webster have filed plans with the Manhattan Bureau of Buildings for the new erection. ‘The bottom 24 floors will be occu- pied by Stone & Webster, Inc, and affiliated companies. The building will occupy the entire 121-foot frontage on the west side of Broad street between Stone and Bridge streets, three blocks from the New York Stock Exchange. POTATO MARKET. CHICAGO, July 10 (#).—(United States Department of Agriculture).—Po- tatoes, receipts, 60 cars; on track, 191 cars; total United States shipment, 1,285 cars; firm on sacks trading fair, dull on barrels trading very slow; Kan- .'sas and Missouri sacked Irish cobblers, 1.50a1.70; poor, 1.35 up; East Shore Yirfl;fl;o. barrel Irish eobblers, 3.25a3.35, ew 3.50. Wb COPPER SALES HEAVY. NEW YORK, July 10 (#).—Metals and Markets reports that heavy sales in wpplo;, all at 11% cents, featured trad- ing in non-ferrous metal markets dur- bonds, priced at 9973, by First National | ing pust week. Total domestic 41,000_tons. Bank. Armtrong Cork Co., $14,931,000 de- benture bonds, priced to yleld over 5.25 per cent, by Guaranty Co. and syndi- cate. Wisconsin Power & Light Co., $4,- 000,000 5 per cent bonds, priced at 99, by Hill, Joiner & Co. and syndicate. Cuyahoga County, Ohio, $1,625,000 4%, per cent bonds, priced to yleld 2.50 to 4.20 per cent, by Guaranty Co. and syndicate. State of California, $1,250,000 4, r cent bonds, to yield 3.95 per cent, y R. H. Moulton & Co. and Security First National Co. Conveyancers’ Title Insurance & Mortgage Co., 81,000,000 5 per cent cer- tificates, at 9815, by Kidder, Peabody & Co.,and syndicate. SHIRT PROSPERITY FAIR. NEW YORK, July 10 (#).—Reports from salesmen on the road indicate that the outlook for business in boys' shirts is fair and unless there is a pro- longed downward trend in general con- | ditions sales should compare favorably with in_volume. veatments ‘ot tunds snd funds of Sold in Lots—$100.00 Up Call or Write Standard Collateral Shares Corporation Woodward B . Management Over 30 years’ suc- cessful handling of rents—economical con- sideration for owners. Personal attention to details and prompt remittance: Also facilities for financing. Moore & Hill, Inc. (Since 1900) 730 17th Street Responsible Corporation desires to invest $100,000.00 ry it ary sommedity business L Address Box 389-A Star Office National Metropolitan Bank 1814—Oldest National Bank in the District of Columbia—1930 15th St., Opposite U. S. Treasury At This Season - —the completeness of our facilities is especially appreci- ated by thosepse-ir- ing to avoid undue exertion and ex- posure to the heat. {[Facilities for all your financlal and related require- ments, under one roof. 3% on Savings P'RIO P'E R TY MANAGEMENT Apartment House MANAGEMENT S real service that we ren. der—and our experience and organization equip us to handle the most minute de- tails to the benefit of your property and accruing results. B. F. SAUL CO. 925 15th St. N.W. Nat’l 2100 M 'O'R'T G,A G B L OANS