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3 . - former Corporation of America, Canad- FINANC CURB SHARES SHC | ON PROFT TAKIG Utility, Industrial and Invest- ment Shares Lose Ground on Selling. BY JOHN A. CRONE. Spects] Dispatch to The Star. H NEW YORK, July 11.—After opening higher on an accumulation of buying orders resulting from the favorable ac- tion of the market Thursday, the Curb Exchange today quickly encountered profit taking. Accompanying the price frregularity was a slackened pace of | 101% dealings. Public utilities, oils, investment com- panies and industrials, in order named, formed the bulk of dealings. Electric Bond & Share, after fractionally ad- “vancing, lost more than a point. Cities Seryice did mnot respond to the an- nouncement of the successful offering of debentures to shareholders. Transamerica Sold. Transamerica encountered selling from the Pacific Coast, but later partially re- covered. Goldman Sachs moved lower. United Founders responded to the pub- lication of earnings and holdings. Call money dropped from 3 to 2! per cent on the curb market loan post early in the third hour, as demands for funds remained light. International Super- power, which as of June 30 had a liqui- dating value of more than $43 a share, compared with $40.59 a share at_the 1929 year end, rose fractionally. Bra- gilian Light & Traction did not main- *tain all of its early advance. Western Massachusetts Co. common ~'opened down 5':, thereby reaching a record low of 58 European Electric rwarrants eased despite the announce- ‘ment of a new $34,000,000 company to be known as Iberian Electric, Ltd. A block of 100 shares of New York- Hamburg Corporation appeared at 27', off 575. Natural gas accessory com- panies, such as Dresser Manufacturing - and Cooper-Bessemer, firmed. Aluminum, Ltd., Topples. The higher priced issues registered some wide fluctuations. Aluminum, Ltd. toppled 19 points on a sale of 100 'shares. Duke Power on a deal of .25 shares broke 8': points. Illinois --Pipe Line, 95 per cent of which has been exchanged for Ohio Oil, which 2lso is acquiring Transcontinental Oil, Jumped 9 points to a new high for the year. The curb today admitted the follow- ing new securities: Universal Consoli- dated Oil Co., Chicago Rivet & Machine Co., Montgomery Ward, class A; Trans- jan Hydroelectric Corporation, Van ,Camp Packing certificates of deposits for preferred and common and Van| Camp Food. BONDS ON THE CURB MARKET. DOMESTIC BONDS. High. Low. Close. 1561027, 10275 10275 1Alabama Pw 4135 '67 8112 B7le 811 10 Aluminum Ltd 55 '48 992 993, 993, Am Cmwih Pw 65 '$0 98 = 98 ' 98 Amer' G & E 55 '28. 99 98% 987 1Amer P & L 65 2016 107% 1073: 1074 @ Amer Roll Mill 55 48 98'2 98'2 98'2 3 Zppalach Pow 55 '56 10034 100% 1007 | 8 Appalach Gas 6s_°45 10731 1067 1067 2 Appalachian Gas 6s K 9612 95 96 JiArans P& Y ss 98% 9 5 Asso_ Electric 41z * 86 35 Bell Tel of Can s 16 Bost & Me 2d 5s 23Cen Nat R E 4%4s '35 997 7 Canadian_Pac 4l.s... 98 1Carolina P & L 55 '56 10214 31 Caterpil Tr 55 '38 wil0ll3 5Cent St Elec 5':5 '54 78 2 Cent Stat Elec 55 ‘48 75 83 Cities Serv_Ss_'50... 100% Childs Co 55 43 Bl 6Cig Str Re 5'as A '49 86 Gin 8t Car 3i3s A ‘52 91 Cilies Seryice .55 '66. : 3 Cit Berv Pow 5ias 9 Con Gas Belt 55 P '6: 80 Con Ges Balt 4'3s H. 4 Cons Pub 6%s '36. 21 Consum Pow 4125 58 9 17Cont G & E 55 A '58 8 4 Crown Zeller €5 “40... 19 Crucible 1 55, 5 Cudahy Pke_3'zs '37. 2Det C > 8 Pet Inc Brds 6155 33 523 $Det Inter Brdg 4s 52 30 2 Duguesns Gas 65 '43. 87 22 Blec P & L 55 A 2030 92 3Florids P & L 85 54 1Gen Ldy 6'as 37 ww 34 Georela Power 5: 67 1011 1Goodsr T&R'5'25 31 100% 2 Grand Trunk 6'x 36 1067 1Gulf OIl Ba 85 33... 10114 14 Gult Oil Pa 35 47, 10175 2 Gulf St Util 55 A ‘36 99% 15 Houst Gulf G 65 A '43 931, 1Hyerade Fd 65 B 4% 2 Tiiinois P & L o'53 157 1o P & L 5%.s B 16 Indnap P&L §5 A 1Iniand Util'6s ‘33 3¢ Incvll UULL 65 B 1lntercon P 65 A ww 89" 89 4 Iniern Sec Am 3s 4 b 14 Intersta Power s '57 89) 6 intersta Power 6 3dnves Co 56 A '47 ww 95 8 Jers C PaL 3iax A 45 99 $Kans G & E 4'ix 80 931 3 Koppers G&C 53 '47. 100 5 Kobper G&C_5'zs '30 103 101% 101°% T8 75 100 938 100 100 103 103 " 2Lenigh F'8 60’ A 2026 105 104 1043 977 977 9814 \ 8 Minn P&L 41,5 78 13 Miss_River Fuel xw 108 Mo Pac RR 55 ‘80 2 Mont L HEP 1 Morris & Co Narrazansett 100% 100 1910y 16155 | 105 3 as & C 65 " San’Ant P S 55 B Bhaw W&P 4,5 A Shawsheen 7s ‘31., ShefTield St1 51us " P&L 55 A § Southw Nat G 65 an? ag] 4 Eo'thw PAL 65 A 2022 108", 108', 10814 5 Staley Mfz 65 ‘42 9813 9R1: card Inv 55 '37 84" 84 1Stand Inv 6% ‘39" 84 84 84 | 15 Standard P & L 65 '57 98% 0812 98% 78wift Co 55 ‘32 1005 1007 8 Tex City Gas -5s 807, A9Ta 2 Texas Gas Ut 65 45 5 ° g5 17 Texas P & L 55 v 1001 1 Thermolc Co_ s | 34T Ul 55 T 861 3 Ulen & Co: 6 s anit | 4Uni Lt & Ry 5ius BIT. 30 1Uni Li & Ry 65 A 10115 10145 | 23 Union Gulf 5e 50 10020 101 28 W Nai Gex 505 ... 96% 9634 063, 1 - 34 8310 52 1011, m s Wabash 35D '80.. 01~ 00%. ‘ 1003 Sweringen 65 35 973, 973 97 D Ry 4%x B 62 993, 9917 aniy bash 55 D '80... 101 * 1007, 100 Waldorf-Astor 7s ‘54 8813 88 v 207, v 11 Wes Fenn S5 2030 wi 90 Wes Tex UL 55 A 92 92 4 Westvac Chl Hlas ‘37103z 103% I LASr Mtz Hank 7 ‘46 89° 89 & 7 1 1 a7 0315 89 8 9 36 Berlin Cy E 65 '35 wi 857 3 Brisbane City 6s '50 2 Buenos Aires 6'ys ‘61 1Buen Air Prov is 3 Buen Air Pr 7.8 2Com Pr Bk 5ist 7 Cuban Repub 55 1Danish Cons 5¢ 2 Danish Con 5'.s 13 Den Mtg B 55 ‘72 ix 984 1 Erc ME 6'.5 A '53 ww 90 18 Furop Bl Cp 6'.5 63 90'% 2Finid Ind Bk 75 '44 909, 1Finid R M Bk 65 '61 82 1Ger Cons Mun 6% '47 85 3 Hamburs Ei 5205 38 Hapover Cred 6 31 1 Helsingfors 6';s 80 1Ttal Sup Pow 6s 63 : 2 Maranhao Braz 7: ‘58 5% 4 Perana Brazil 7s 58. 217 Prussia P S 65 '52. 88 Ruhr G Co 6'2% A 53 865 Santiago Chile 7s 49. 95 47 100% 100%, 37. 89 " 89 45. 9414 94 53 961; 9615 55 10014 100 081, a0 8934 29 53" | is expected. Sugar sold at another new TIAL., NEW YORK CURB MARKET Notico—All stocks are wid tn one g A M - N R Stock and Sales— Rate. Add 00. Open. Bish. 11 11% Air Inv, Inc, ev pf.. 1 104% 100 Alabama Pwr pf( 9% 4 Allegheny Ga: 3 % Allied Aviati; 1'% 13 Allison Drug St (A). 109t5 105's Alu Co of Am pf (6). 232 108 Aluminum Co. Ltd. . 28% 12% AmC P&L(B)(10%) 28% 21% Am Com P(A) b10%, 50% 34% Am Cwith P(B)10% 3 17% Am Cynam B (1.60).. 22 12% Am Equitie: 76% 35% Am For Pw: dent 157 104 Am Gas & Eleo (31). 16 7% Am Invest, Inc (B).. T 2% Am Invest (War)..m 4'a 1y Am Maricabo. 391 20% Am Superpwr (1)... 10 974 87% Am Superpwr pf (§). 94% Am Sperpwr 1st (6). 111% Am TobacB(new) 7% Am U&Gen B vic 400 1% Am Yvette (n) w.1 6 Anchor PF (b10%). 15% Anglo Chil Nitrate. . 8'2 Appalachian Gas »% Arkansas Nat Gas. 8% Ark Nat Gas (A) 102 Ark P &Lt pf (7). % Asso Dyelng & Ptg.. 364 AssoGas& Elec..... 461 0% Asso GEE (A) 12.40. 11% - 5% Asso G&E (A) dbrts 147% 97 Asso Gas&El ctfs(8) 1 % Atlantic Lobos...... 5 . 3% Atlas Utilities(war). 15% 3 Auto Music A(11.05) 17% Y% Auto Vot Ma ev pf pt 55 24% Aviation Corp of Am 141 122 Babcox & Wil (19).. 6% 214 Bania Corp.. 157% 146 Bell Telof Can (3 50 1% BlisaCo (B W) ( 16% 6% Blue Ridge Cp (4 44% 33% Blue Ridge cv pf(ad) 20 11% Bower Roller Bear. . $5% Brazil Tract & Lt $2. 2'¢ Bridgept Mach (2bc) 24'% Buft,N&EP pf(1.60). Burma Corp (131¢) .. EBwana M Kubwa. ... Canada Marcont. ... Carib Syndicat g Cent Atlantic Staf Cent P S (A) (al. Cent States Elec 3400 Chain Stores Dev. ... Chain Stores Stock. . Chat Ph Al n-v(50¢c). Chem Nat Asso n-v. Cities Service(330c) 117 Colombia Syndicat: Colon Oil. ueeenaae Col 011 & Gas vte.... Com'with & Sou war. Comm Wat Serv b6% Consol Alreraft..... Cons Dairy Prod (2) Consol Instrument Consol Laundri Con Retall Strs (1).. Cooper Bess pf A (3) Cord Corp. . Corp Sec, Chi (b6%) Cosden Ol.... Cuneo Press (234)... Curtiss AIrports vie. Curtiss Wright war. Dayton Air & Eng... Deere & Co (11.20).. De Forest Radlo. Derby Oil Refining. . Detroit Alrcraft. . Douglas Alr (76¢)... Dresser(SR) A(3%). Dresser (S R) B (2). Driver Harris(new). Duke Power 15) Duquesne Gas Cp w.i Durant Motors. Eastn G&¥ Asso.... Eastn Sta Pwr B(1). Eastn Utll Asso cv Eastn Uul Inv (A).. Eisler Belectric(1%) £l Bond & Sh (b6 151 Bongd & Sh pf (6). £l Bold&Sha cu pf(5 Elec Pwr Asso A (1) Elec Pwr Ass0 (1).. - PWr & L 0D Wi 1 P&L 24 pLA) (7). Evans Wallow Lead. Fabrics kininshing Federal Screw (3 Fiat receipts 11.25). Fjat Stock deb ris Mxer Alrcraf Foltis Sischer Corp. Ford Mot, Can A 11% Ford Mor.Lta4 31 %c. Fox Theater C (A). Garlock Pkg (1.20).. Gen Alioys (80c) General Baking . Gen Baking pf (3) Gen Empire Corp. Gen Fi'proof (123 Sold Coin (new) . tolaen Center Goldman Sach T C Gold Seal lec new. . GrA&PTn-vi5).. Gr A &P Tea pf (7). Gulf Oll of Patl%). Handley Pag pf t1be Hires (CE) (A)(2), Hormel (Geo) (2)... Houston Oil of Texas Hudsou Bay M & § Humble O1l (2) 111 Pipe Line (20) . Lnp Ol Can. 0idue). ing -inett=ioln% ) Insull Util Inv 1h% Lnsull Ut Ln 2d pfi6) 1us Co. No Am (13). insurance Sec(1.40) . intercontinent Pet n Intercont Pwr war, , 17% Loti Petroleum (1).. ' Intl Superpwr(31) 34k Int Utilities A (3% 6% Internatl Utll «B) T3 Lnterstate Equlties 6% Interstate Hose Mills 1z Irving Air Chute (1). 1% Land Co of Florida.. 1 weonard Oil. 2'5 Liberty Baking..... i Lone Star Gas. n (1). ¥% Long Isl Light(60c) « 107's Long Isld Lt pf (7).. 2 Louisiana Lan & Ex. 16 MacMarr Stores (1). v Magdalena Synd. . Mapes C MIg (13%) 10° " 2 17 16% T 14% 45% 14% 16% 16% 109 % b1y FemmSanneeBepe - e CISTHISTSTET -~ -4~ O Y 1 o S 5 = RARBE TS e GG Sk g 4008 4 19 PSPPI R IR eSO | § I ~ SRS 1 T 23 9 1T% 0% 1099 108% 9l 92% o7 5914 Tol Nes 10 1005 4 1 bus z 8z 63 15% 3 % 1 che mERNLRR -G an 100% 100% an 16% 404 THE EVENING STAR, WASHINGTON, D. C., FRIDAY, JULY 11, 1930. hundred-share lots tter & (65s) (285) odd lots enly. Low. Close, 31T 12 12 100% 100% LY % 2% W% 107% 107% 141 141 16% 16% 2u% 41 1980~ igh. Low. 20% 1 48 10% 40 80 25% 8% 5 24 26% 22 50% 15 11 12 1 2 4% 2% Mesta M: 1% Met & M. Mid W Mid Wst Midland Mid " 1074 141 16% 22% Al 197 16% " N 1 Py 104 Natl Amy Natl Inv Newport Niles-Be: Noma EI Noranda No Am Li Ohi Bras: % Ohio Oil Ohio Oil Pac G&E! Pac Pub Pac Wes! Pilot Rad Plymout| Prince & Prince & Prudent!. Pub Ul Rainbow Rainbow Richman St Regls Saxet Co. Schutter Selected Sel Ind a Sheaffer Southlan: Stand In; Stand Oi| Stand Oi Starrett Stutz Mo! lagrart Texon Oi Met Chain Store: Standard Motors. Received by Private Wire Direct to The, Star Office Mavis Bottling. . Mayflower Asso (32) Memphis Nat Gas. .. Mercantile Stors (5), Mer Cha&S pf A 6%, ach (11.80 in, Ine(1.2 s Ut (1%).. Util(b8%) .. Unit (b6% ). Co (4).. n P L (bio%). 1 MissKP L v.te., Moh H P 1st pt (7 er Co, Natl Fam Strs( estors. Natl Pwr&Lt pt (6).. Natl Pwr & Lt pf (1) 50, Nat Sh Trm SecA 350 Nehi Corp (1.30). New Eng T & T (8) N J Zine (t214) CO(2)ueanam N Y Hamburg (234), N Y Rio&Bu Afre: Niag H Pwr n (40¢). Niag Hud Pwr.A war Niag Shars Md(40c). m-P (1214).. Nipissing (30c).. ec (1:60). . Mines (2) No Am Aviat A war, t&Pr(b8%). Noth Euro O1l Corp, , s pf (6). Ohlo Coppe! “).. pfnew (6).. Oilstocks. Litd A 3500 Outboard Motor (B). 11st pf 1%, Sve (1.30) tern OIl. Pandem Oil. Pantepec Oil Parke Davis (11.55). Pennroad Corp (20c) Peoples L&P, A a2 Pa Water& Pwr(3 Petrol Corp war. Philip Morris. Ine ) 0 lio Tube(A) Pitney B P.n (20c) h Ol (2). Premier Gold (24c) Whitely 1 Whit pf(3). al Invest Holdw w. Lu Prod A. Lu Prod B Raymond Con pf (3). Reiter-Foster(40¢) Reynolds Invest. Bros (3). Root Refining. Rossia Intl Corp. Ryan Consolidated Paper (1).. Schulte Un 6c-81 St. J Candy(A) Scovill Mfg (4)..... Seaboard Util (50¢) . Seg Lock & H (59¢) . Industries, 1lot efs 6% . Sentry Safety Cont, Pen (13) Snenandoah Corp. .. Shenan Coro pf (a3) Smith (A 0) «2). Southern Corp. .. So Pipe Line (12) « 120 d Roy (1). Spanish & Gen Reg. . ves pf(5%).100s 12 L Ind (23%). 31 Stand Oil. KY (1.80) 1. Neb.(13%; Corp. . Strauss Roth. s Stromberg-Carl(1%) tor Car. Sunrav Ol (40c) . Swift & Co new (2, Corp (1)... mpa Electric (32) Technicolor. Ine. ...\ Teck Hughes (60e) 1 & Ld(25c) Thatcher Sec Corp. . Thermotd Co pf (7). 100s Trensam, ‘Tran Con Afr Tran. ‘Trans Lu Tri-Cont Tri Utin Tri Utili Tubsiz Tung Sol Pung-So Ulen & C « er (11.60).. 2.2 1 ixDLPS.. 7 Corp (war) ties(11.20) ties pt (3). *hatel (B)..§ 1 Lamp (1), 1Lt (3). o (1760) . Un Nat Gas. Can | % Unicn Tobacco. .. United Ci United Corp rwar) Unit k) Sve pr war, Utd koun United G: United G: United G Utd Lt & Utd Lt & 3 Unit Mil U S Elec U S Elec hem pf (3).. nders bz 35) as Co (new) as (war) as pf (1) Pwr A1) Pwr of(6). Kk Products, Pwr ww Pwr (war). U S&lnt) Sec 18t 15). % US & Overseas war. United 8 Unit Ver Utility Pwrélt Ut P&L Utillty & Ut & Ind of (1%) tore! de Iixt Ve L B ctfs al) ina. Utility Bauitte Vacuum Venezuela Petroim. . . Viek in: Waitt&eBond.B(1 Walzree Wenden Westn A Westn Ms Williams R C(1.40). 12% o 21y 11 Wil Low Winter « Woodley Zonite P RIGH? % Inul & Mo & Dividend rates annual payment *Ex-dividend NEW YORK, July 11.—The following | tistics Co., Inc., for the Associated Pre: News Trend. Department of Agriculture July 1 esti- mates of crop production in current year indicate there will be an increase in output of practically all principal farm products. Combined Winter and Spring wheat crop is expected to yield 807,265,000 bushels against actual har- vest of 807,000,000 tast year. Indicated corn output is placed at 2,802,442,000 bushels against 2,622,000,000 in 1929. upward revision in agricultura! prices, though in the case of wheat quotations are influenced largely by world condi- tions. The price of domestic copper has been reduced to 11': cents & pound by all producers. Foreign quotations continue at 123 a pound, but a cut to 11.8 cents record low yesterday, 1.18 cents a pound. Corporation news included several earnings statements for the June quar- ter. Results are, of course, generally below last year’s, but in many instances, not as bad as anticipated. White Sew- ing Machine omitted $1 quarterly preferred dividend due at this time. Willys Overland has reduced all salaries 16 per cent. The Companies. Anaconda Wire & Cable reduces prices for products !5 cent a pound. Borden Co. to issue 21,200 common shares in acquisition of five dairy and Sagtiago Chile 7s ‘61 Stinnes Ts 36 xw. .. 86 Terni Boc 6l.x A 52 aly Unit Bl Ser 15 '56 xw 923 Unit Tndust 6':s '41. 89 With “warrants. xw—Wit » 1 n--New. w%i—When 1ssued. 7 sents ~ iec_cream compenies. Central Public Service currently has about 42,000 stoc'tholders. Crown Zellerba~h is a summary of important corporation | news, prepared by the Standard Su-; These figures give slight basis for any | common stock in year against $1,72 in previous De Forest Radio had deficit $208.919 in fiscal year to Mareh 31 1930, - Ford Motor Mexican company acquires g:fymr new assembly plnmpnpi;r Nfcx:co Ford Motor to prodt Ford-Isotta-Fraschini of Isotta-Fraschini about $700. rd Motor Co. Lt sidiary sales, first. na‘Ir,d“ Nt production, 7,809 cars, George A. Fuller Co. obtains $2,300.000 inew contracts. Current unfilled con- | tracts about $35,000,000 Gillette Safety Razor earned $1.20 on common stock in June quarter, against $1.75 in 1929 period; first half ‘earnings | $2.18, against $3.81 Martin Parry Corporation had deficit | of $44,027 in quarter to May 31, against | | profit of $8.891 in 1929 period: nine | months' profit, $249,945, against $81,975 | in previous period. | Minneapolis Honeywell Regulator re- | ported first half sales were about 11| per cent below 1929 period. Orders on | hand July 1 were substantially above | year ago. | Montgomery Ward & Co. officials say | ;gene:’al brice reductions will not aftect earning power at lowe: prices company |15 getting. Normal percentage mark- | up as prices are based on purchases made at current low commodity levels. | Inventory position is good, and inven- | tory losses in first six months were normal and no greater last year. New York Central Railroad to con- zét‘nauct (’rd‘s'hl lfl\r'ml;qll on iower West | le o ew orl 2 [ over | $10,000,000. P s | Northern States Power net, before | | depreciation, 12 months to May 31, off | |3.7 per cent. Pennsylvania Power & Light May | balance up 4 per cent: 12 months o | May & per cent above previous year. | . Philadelphia Co. net, before deprecia- | tion. 12 months to May 31, up 4.4 pfll to April 30,| year, ice new cheap car, . in Milan plant Will market for sub- up 55 per cent; | earned $1.44 oncent. ickel wi. tPartly extia ck b Pavable in stock. d Payable in preferr o1 (141, ancial Corp. ) n Co. g Copper. .. uto S A (3). s Co Cafeteria Renj) : Petrolenm roducts (1). Expire. 2 1 4% (I 1 TS 10 Pipe .. June 2 In dollars based on iast quarterly or semi- tPlus extra in stock vatie m stock. Servel, Inc., subsidiary Hercules Prod- ucts, marketing new refrigerator trugk body. Standard Gas & Electric net, before depreciation, 12 months to May 31. up 3.2 per cent. Underwood Elliott Fisher earned $1.33 on common stock to June 30, against $1.94 in 1929 period; first half earn- ings $3.22. against $4.57. United Aircraft & Transport acquires majority Varney Air Lines, Inc,, through exchange one United share for two Varney shares. Van Sweringen Corporation reported holds about 700,000 Alleghany Corpora- tion common shares; held 500,000 In April White Sewing Machine omits $1 quar- terly preferred dividend due at this time Willy. per cent. Overland cuts all salaries 10 Wall Street. Hears— That opinion as to the most likely course of share prices is sharply divided in professional trading circles and that a real test of strength be- tween opposing speculative camps may be expected. ‘That Mack Truck's earnings im- proved substantially during the second quarter. Although it earned only 64 cents share during the first quarter, it Is expected that the net for the first half will not come far below the divi- dend requirements. That British investment trusts have been gradually accumulating prime dividend-paying rails in this market during the past few days. That Auburn Auto, which earned only 55 cents a share in the first quar- {ter, will show a sharp gain for the second. RUBBER DECLINES, NEW YORK, July 11 (Speclal). Crude rubber, smoked ribbed sheets, de- clined *ic at’ today's noon quotation of 11l5c. This compares with 1214 a menth_ago and 22 a year ago. 5| more even among_ Eastern roads than : RENEWED i | cables and bearish statistical features. . ! covered during the middie of the day " | met renewed realizing, with the market « | the afternoon. At 2 o'clock it was quiet RAIL RATE BOOSTS HELD IMPORTANT More Liberality for Carriers Than in Past Foreseen by Financiers. Special Dispatch to The Star. NEW YORK, July 11.—Wall Street, railroad executives and bankers attach the greatest importance to the decision of the Interstate Commerce Commis- sion this week granting rate increases to Eastern and Western trunk lines on so-called classified traffic. As is well known, that order will add many mil- lions of dollars annually to the revenues of the railroads. ‘That fact is not the only reason for the gratification of railroad men, how- ever. They see broader significance in a growing tendency on the part of the commission to treat the transportation cgmp-mea with more liberality than in the past. In the view of important railroad directors here the increases on classified trafic are designed by the Interstate Commerce Commission to compensate the railroads in part for loss of business to motor trucks and busses and to air- planes in recent years. Even if that deliberate purpose was not behind the order the higher rates granted will at least have that practical effect and therefore will tend to improve the posi- tion of railroad securities. Indeed, the recovery in shares of railroads in the last day or two undoubtedly was in re- sponse to the Washington news. Trucks Have 10 Per Cent. Just how much traffic has been taken away from the carrier lines by motor truck .competition is difficult to esti- mate. One of the most authoritative guesses has been made by a leading railway executive. He estimated that motor gucks now haul 10 per cent of the freffht of the country. Motor busses have eaten extensively into passenger wraffic and so, too, have passenger auto- mobiles, leading many roads to curtail service on local lines and in some cases to operate bus lines themselves. The railroads have been trying for many years to obtain the rate advances just granted to them. The fact that the commission has at last yielded to | their appeals is therefore suggestive of a change of heart which is believed to augur well for the future of the car- riers. The two groups of rates affected, in the West and in Eastern territory, have been regarded as unduly de- pressed. The Western lines in particu- lar sought this relief as part compensa- tion for reductions made in rates on commodities which, of course, con- stitute the bulk of their traffic. Estimates of the total annual in- crease in Tevenues that the new rates { will bring the carriers run as high as $65,000,000, of which Eastern carriers will receive the lion's share, possibly amounting to $50,000,000, while West- ern carriers will get about $15,000,000. In proportion to their traffic, therefore, the Eastern lines will fare better than the Western systems. Of course all | estimates of increase revenues are more | or less guesswork, since revenues de- | pend upon volume of traffic. More Even in East. Distribution of the increases will be | those in the West, because the Eastern territory is more highly in-| dustrialized. In the West certain roads will benefit heavily while others will gain comparatively little, the lat- ter being the so-called “Granger” roads | whose business is largely hauling of agricultural commodities. This decision of the Interstate Com- merce Commission is the second favor- able news of importance to the railroads within a comparatively short time. The oth@ development was the ruling of the United States Supreme Court in the Hoch-Smith case. That deeision, in | effect, held that railroad rates must be | based' on the value of the service ren- | dered by the carriers, not on the profits of the shippers. 1¢ had been argued on behalf of fruit | growers of California that rates should b2 reduced on the ground that the coast fruit g:owers had had a poor season and could not afford to pay the freight | charge. The court, in effect, held that | the misfortunes of the fruit grower had nothing to do with the rates to which the railroads were entitled. SELLING IN COTTON MARKET Commodity Makes New Low for | Day in Late Trading in Wall Street. | By the Associated Press. | NEW YORK, July 11.—Early declines |in cotion today were attributed to realizing or reselling by recent buyers influenced by relatively easy Liverpool | The initial lasses were just about re- owing to reports of continued dry, hot weather in the South, but the advances making new low for the day during and barely steady at net declines of about 6 to 12 points. Futures clos:d barely steady, 23 to 36 points lower. July, 12.90a12.91; October, 1 ; December, 12.12; January, 13.13; n contracts, Octqber, 12.66a12.67; December, 12.87a12.88; Janua 12.92a | 12.93; March, 13.15; May, 13.35. Spot | quiet, middling, 13.10, i Summary: 5 3 July Qct. Oct Dec. Dec. Jan Jan March May ioid} (new)’ rold) ., (newi . (old) (new (s 2583228 St pitietoietetel} Pt DIVIDENDS DECLARED NEW YORK, July 11 (#).—Dividends | declared! . i Regul ‘e- Pay- Hidrs. of Company. Rate.riod. able. . record. Allied Kid 36.50 pf.$1.62'; Q A July Army Trust Shares...40c SA Jul e Baltimore Am Ins.' 40c 8A July 25 Juiy Dennison Mfg Deb. July BULDE: S cvesd July Genl Paris Corp Inter Paper. .....:..} Inter Pap & Pow A’ 60c Q Aug. Mex Eag Oil Ltd Or.11.94c An July Do pf... .. [15:92¢ An July Minn Honéyw Reg. $1.80 SA Aug. Monongahels West Pern Pub Ser 7% pfd...43%c Q Oct. Nat Liberty ins Am..25¢ 8A July Nat Pumps ... 75¢ Q Aug. Pacific Lighting. T8¢ Q Aug. 7 Bl %135 Q Auk. s Nat ‘Fire ns.25c SA July Pitney Bowes Pos Met.5c Q Aug. iiway & Light Sec.50c Q Aug. Do pt.’ ....31.50 Q Aug. Reed (C'A) Co'A.. B0c Q Auk. B55-8n GRESE-mnBEa Skinner_ Orean victor Talk Mach Eureka Pipe Line Co. Firemen's Insur...... Qotham Silk Hos Greene Cananea Cop 5 lorn & Hard (NY).6 Intl Shoe Co pf Jantzen Knitting Netl Licorice Co.. Oahu Ry & Land. .. Oil Well Supply Bf Pub Ser of N Iil.... 50 Rep 8t 3135 Rice Stix Dry Goods, 37i3¢ US & For Sec 1st pf $1.80 US & Intl Sec Ist pf §1.35 Warch Corp conv pf.631, Minn Honeywell Re..50¢ : POOD: POOOOR: LEOODOOOOOOD Aug 4 f Shell T . July 28 July 21 Due July 1/ Due May 1 Div due at this time Brott & Co ....... Un Dept Stores Vocalion Gramaphione. . FINANCIA STOCK AND BOND AVERAGE! By the Assaciated Press. Today.... Previous day. Week ago Year ago.. Two years Three years ago, weekly High (1930)... . Low (1930) High (1929) Low (1929) aver. Industrials. Today. ... 23.2 Previous day. Week ago Year ago. . Two years ago. .. Three years ago, weekly aver. High (1930) Low (1930) High (1929) Low (1929) 8:30 Edition, J 20 Utilitles, (Copyright. 1930, Standard Statistics Co.) PER CARTA SUGAR USE CROWS FAS Decline in Wheat Consump tion Partly Attributed to More Eating of Sweets. By the Associated Press. The popular theory that sugar has contributed in large measure to the de- cline in per capita wheat consumption appears to be borne out by a survey of sugar statistics in the files of the Com- merce Department. 2 Per capita sugar consumption in the | United States has increased to the ex- tent of 2653 pounds in the last two decades, and has reached the imposing figure of 108.13 pounds per capita. This increase has been constant and orderly, beginning with 81.60 pounds per capita in 1910, increasing to 86.56 pounds in 1920. In 1925 it had reached 107.50 pounds, reaching its present peak dur- ing the last calendar year. Increased use of sugar foods is held by foodstuffs experts of the depart- ment to be responsible solely for the | gains shown. Certain classifications have gained tremendously in the last 20 years in popularity, principally soft drinks, which have made mighty strides since 1918, and candy. Latest statistics available in the de- partment report domestic consumption | among major items, excepting house- hold and hotels and restaurants, to be approximately as follows: Bakery prod- ucts, 625,000 long tons; candy, 490,000; beverages, 325.000; ice cream, 165,000 condensed milk, 83,000, and canned goods, 65,000 long tons. Consumption during 1930 will .ap- proximate 6,000,000 tons, according to estimates of various sugar associations, with domestic production amounting to only about one-third of this amount. Building construction in June gained 81, per cent over the previous month, the Associated General Contractors of | America, which uses shipment of basic | construction material as its barometer, reports. The association’s statistical charts show the June index number at 191, or 15 points above that for May. ‘The index, which is based on repre- senting 1913 averages as 100, however, was 40 points below that for the same month of 1929. Composite index number for the first half of 1930 indicates a decrease of 12 per cent in the amount of construction work performed during the period, as compared with the same months of 1929. The average monthly index this year has been 148, against 167 for the first six months of last year and 195! for the entire 12-month pericd of 1928, Although contract awards reported for the first five months likewise show | a decrease with those of last year, the| assoclation is confident there is still a | large volume of work which will come | forward and that a relatively stronger showing will be made in the final hailf | of the year. | Concrete surface pavement awards aggregated 18,914,000 square yards in May, or 314,000 square yards in excess of the previous month, which was a record-breaking April. The awards Iori the first five months totaled 64,665,036 square yards, or an increase of 13.3 per cent over the same period last vear. Long-term State and municipal bond issues totaled $135,000,000 in May and $595,056,000 for the first five months, a gain of slightly more than 12 per cent for the latter period. The month- | Iy average thus far has been $119,000,- | 000, as compared with $107,150,000 for the period in 1929. The average of construction costs in | the principal construction centers in June was 3.4 points less than the cost index figure for the same month a year ago, standing at index number 199.6, ac- cording to the association’s charts. Interest in a model grocery store set up in Jacksonville, Fla., by local asso- | ciations, based on research by the Com- | merce Department. is growing datly, the | department i3 advised. ‘The model, | which is a fully stocked store, but of- | fering no goods for sale. w: 24-Hour Parking . _— ™ 6% LOANS | ON HOMES and Business Property Run for § Years Without Curtailment Wm. H. Saunders Co., Inc. : Founded 1887 District 1016 1519 K Loan Correspondent for the Provident Mutual Life Insurance Company of Philadelphia Substantially Secured Guaranty First Mortgages are substantially secured. Not only on improved Washing- ton Real Estate, but are backed by our resources of £3,800,000. In denominations as low as 250. May be purchased on low ~ Monthly Terms. § REALESTATE MORTGAGE & GUARANT CoRPORATION Capltal Resources over $3,800,000 24 JACKSON PLACE L a week ago, and since that time large | delegations of merchandisers have coplied its designs. ‘The exhibit as completed is designed for an annual volume of sales of ap- roximately $50.000, to be operated by four people. The retail selling space, which is 20 by 45 feet, is all thrown open to customers, making ajl goods easlly accessible for inspection and self- service. Total investment in equipment and stock as outlined in the specifications aggregate $4,900; $3,700 for equipment and the rest for stock. Equipment for the meat department accounts for near- ly half of the total amount, or $2,400; delivery equipment, $700, and equip- ment for the grocery department, $600. The recommended investment in stock for the store by commodity groups ranges from $310 for canned goods to $21 for sugar, only four groups requir- ing more than $100 for stock. The purpose of the model store is to show the retailer how economies of op- eration may’ be effected; how he ma; attract new customers and increase his business with old customers without in- creasing his expense of operation. RAINS IN CANADA HURT WHEAT PRICSZ> Traders Switch Quickly to Selling Side in Late Chicago Transactions, By the Associated Press. CHICAGO, July 11.—Rains in Can- ada and some moisture also in domes- tic Spring wheat territory led to a late setback in wheat prices today, overcoming earlier gains, Traders who had been the most active in buying wheat switched quickly to the selling side. Fading away of wheat values was influenced also by an easing down of | the corn market in the late dealings. Wheat closed unsettled, 17:a2% a bushel lower than yesterday's finish. Corn closed at ’;al net advance, oats at a shade decline to !4 gain, and provi- | slrn% varying from 35 setback to a rise of 20. WHEAT— Low. 837 894 954 818 5% High. 0 931, 991 September December . OATE—- DG September December , RYE— July . September December ... INVESTMENT TRUSTS collj:‘:t‘e‘l" r\,:?&:(l July 11 (#).—Over-the- Amer Brit & Conti 6% pf. Assoc Stand Oil Shares Basic Industry Shares British Type Invest.. .. .. Corporate Trust Shares Diversified Trustee Shares A Bid. Asked. 60 "0 Do B drs SR FR e Fixed Trust Shares A Do. B 7 . Incorp “Equities: Incorp Investors. .. ! Investment Trust of N V. '\ Jackson & Curtis Invest Assoc Mohawk Invest... ... Nation-wide Secur. . Oil Shares Inc Unifs.. ' ' Il Power & Rail Trustee Shares Spencer Trask Fund Inc........ Super Corp of Am Tr Shrs B... Trustee Stand Ol Sh | Trustee ares A United Ins ‘“Trust Shrs P, 15 United N'Y Bnk & Trust 8hrs G 17 U S Bl Lt & Pow Shares A... 351 United Oil Trust o Others_onchangear > o First Mortgage Loans In Arlington County and Alexandria, Virginia Commonwealth Investment Co., Inc. 806 I5th St. N.W. Phone National 263 Mortgage Loan Correspondent for The Prudential Insurance Co. Property Management Over 30 years’ suc- cessful handling of rents—economical con- sideration for owners. Personal attention to details and prompt remittances. Also facilities financing. Moore & Hill, Inc. (Since 1900) 730 17th Street for Common Stock Values | We have prepared a list of | | Common Stocks which in our opinion represent attractive opportuni- ties at current prices. Copy upon request I g STEIN BROS. & BOYCE Established 1853 Woodward Bldg., Washington, D. C. L. CHICAGO STOCK MARKET By the Associated Press. CHICAQO, July 11.—Following is the complete official list of tra: in on the Chicago Stock Exchange i 1% 10% 100 All-Am _ Mohaw 200 Allied Mot Ind 100 Am Yveute, Appalachi 200 At Metal 150 Assoc Tel " Uil 0 Assoc Inv.. 1330 Auburn Auio. . 500 Bendix Aviatio 5000 Borg-Warner . 100 Borin Vivitos 100 Butler Bros 50 Castle A M |01l 10 40 Cent 11l Pub ‘Ser pi. 100 Cent Pub Serv A 830 Cent & S0 West . 50 Chain Beit ..... 600 Chi City & Con' Ry 500 Chi City & C Ry pf.. 3300 Chic Corp ... ... 200 Chic Corp ‘Bi 100 Chic Investors. . 50 Cheo Rys ser 3 2300 Cities Bervice 7100 Clum Alum_ ... 50 Com'with Edisn 50 Construct Mat . 50 Conatruct Mat pt . 150 Consumer s 25258080 1900 Cord Corp 2700 Corp_Sec 25 Dexter Co . ... 200 Duquesne Gas' Corp. . 1000 Elec Household 100 Elec Research 50 Emp G&F 65 DI 100 Fabrics Finish . 150 Foote G & Mach 200 Gen Candy Corp..... 200 Gen Theater Ea... 150 Gen Wat Works A. 700 Gleaner . 5 100 Gt Lakes Aircrafi . 1800 Gt Lakes Dredge. 7800 Grigsby Grunow ormel & Co ... oudatlle-Her ‘A peow e S5EE G <l G H H 4300 Insul ULl | 750 insull U pi 2nd’ Se 2430 Tron Fireman ... 50 Invest Co of Am 50 Kalamazoo Stove 50 Katz Drug ... 12 Ky Ui Jr Cum pf.’ 500 Keystone _8teel . 100 Lehman corp 250 Libby-McNeill 100 Lincoln Print 150 Linoin Ptg pf 50 Lindsay Lieht . 300 Lynch Glass & 10100 Majestic House Ui. 100 Manhat Dearborn . 600 Marshall 100 Meadows c Mirs Al 50 Mid West Tel 18100 Mid West Uil %00 Mid W Ut 6% pf A.. 50 Mid W Ut A" war. 2100 Mid W UL “B" war 1000 Midland Nat Gas 400 Midiand ~ United. . 00 Midland Unit pf. 200 Migiand _Unit war. 10 iUt 67 A pf. td_Ut 7% “pl. ™ 0 M 600 Modine . % 250 Nat Elec Pow 'A. 50 Nat _Leather. 100 Nat Secur Inv.. 100 Nat _Secur In 250 Nat-Standard 300 Noblitt-Spark: 100 North Am Car, 150 Nor Am G & 900 Nor Am L & 280No & 8o Am. 200 No West Banci 500 Peabody Coal 50 Pertect” Circle. 50 Public Serv n p. 250 Railroad Sh 100 Reliance Tntl. 32,85 50 Stgnode Stl pf 130 Stand Diredging 50 Stand Dredge pf 200 Steinite Radio ... . 400 Stone (H 0) & Go 50 Storkline Furn 50 Swifi & Co 200 Swift Int 400 Transformer .. 250 Twin St Nat Gas.. 1850 U 8 Gypoum .. 2200 U S Radio & Tel. 50 Utah_Radio . Util Pow & L 4 100 Uil Pow & L n-vot 430 ULl & Ind. 200 Ul & Ind bf; 20 Viking Pump pi. 500 Vortex Cup 100 Vortex Cup 100 Wayne Pump ‘pf 350 West Cont Util. 3300 Wis Bank Shrs.. 200 Yates Mach . 800 Zenith Radio Stock sales toda: - coaseons _agees S BAEEREE .- 855, oagecs B iassans SEREERERSSEL8EENRNE. [oreTTen e | 8! 135,200 sha 3 BONDS. 11000 Insull 65 40 1017 101% 3000 South Nat Gas 85 ‘44 97 = 97 0% Bond sales today, $14,000. SUGAR MELT SMALLER. NEW YORK, July 11.—The total sugar melt of 15 United States refiners for the period from January 1 to June 28 amounted to 2,365,000 long tons, compared with 2,585,000 tons in the corresponding period last year. Deliv- eries totaled 2,145.000 long tons, com~ pared with 2,345,000 last year. Specializing in Real Estate Investments JAMES Y. PENNEBAKER Nat.5291 1520 K St. N.W. Joseph I. Weller 0,75 & & T REAL ESTATE LOANS Made at Low Interest Rates TYLER & BUTHERFORD ocated years. If %o d esire 1520 K St. N.W. National 0475 1851 1930 . UIFE INStpg ‘*5\\pmsfi§3 ; Mas,!cff‘o A Standard Low Premium Policy for Business and Professional Men Details on Request F. T. Koons, Gen: Union Trust Bldg. Offices Saul Building 925 15th St. N.W., Several desirable rooms at very reasonable rents. Inspec tion invited. B. F. SAUL CO. Nat. 2100 925 15th St. N.W. Bring Your Real Estate Loan Problem to Us— We Can Quickly Arrange it for You 3, 5or 10 Year Loans On Improved Real Estate IN Nearby Montgomery County and the District of Columbia —— Lowest Interest Ratee # BOSSEMELPS " Founded 1907 - Loan Correspondent John Hancock Muiual Life Insurance Co, 1417 K St. National 9300