Evening Star Newspaper, July 23, 1930, Page 14

FINANCTATL. BOOM IN BUSINESS - 1S PREDICTED SOON JULY 23, 1930 NEW YORK STOCK EXCHANGE by Private Wire Direct to The Star Office. - CHAN [orwew vone BONDS e ] | ADVANCES IN BOND | - DECREE IS OPPOSED <s( - PRICES CONTINUE 64 % 100% 100 UNITED STATES. (Sales are tn $1.000. Sales. High. Low. Close. 341 101 10027 101 41023 1022 1023 Dividend Rate. A84 90 Migh. Low. Close lose: 5 Stand Invest Corp. .. ™ T O 56% Stand O of Cal (2%). 624 98 Stand Ofl ¥xp pf(6 02 Saes. 2 Paramount 6s'47.. 31 101! (Continued From Page 13). 29 T T T T teese 20 Phila & Read 65°49. 132 Attorney General Mitchell Prepared to Fight Attempt at Modification. BY JOHN F. SINCLAIR. Epecial Dispatch to Yhe Star. NEW YORK, July 23.—Attorney Gen- eral Mitchell has let the public know in no uncertain terms that his depart- ment will resist every move looking to: the modification of the packers’ consent decree. When Senator Black demanded that the Department of Justice tell the Sen- ate its attitude with “respect to the modification of the decree in all stages #nd ramifications,” the Attorney Gen- eral replied: y »I have declined to entertain any suggestion for any modification of this decree.” But he went further and said that it was the of his department to present to the court every “justifiable argument and fact which tends to be conclusive that the decree should not be_modified.” So the big packers—Armour & Co. and Swift & Co. particularly—hoping all along for & favorable Government attitude, must now prepare to face the stern opposition of the Government it- self. There is no immediate prospects of any modifications of the consent decree, in view of the Attorney General's state- ment. If the packers who signed the de- cres in 1921—Armour, Swift, Cudahy and Wilson—whereby they agreed to forever keep out of the retailing of meat and its allled products, want re- lief, they have to fight for it and get it by court action. The Government will not lift a finger to help them. Quite the contrary. The Government has told the packers they will fight every effort of the packers seeking any modifica- tion whatsoever. The chain stores, which sell meat and own packing plants, are jubilant. The wholesale grocers are, 100. The big four packers have lost the first round. But the fight has only begu: z n. © Wages in the United States rose slightly in 1929 over 1928, says the Na- tional Industrial Conference Board. The study discloses that hourly wages in the menufacturing industry in 1929 averaged 58 cents, as compared with 87 cents in the preceding year. On railroads, the average hourly wages were 64 cents in 1929 and 62 1-3 cents in 1928: in gas plants, 57 cents in 1929, half a cent lower than in 1928; in the electric generating plants,'63 cents in 1929, nearly a cent lower than in 1923. ‘Farm wages declined 1 cent from $2.40 a day in 1928 to $2.39 in 1920. in the building trades, the wages rose from $1.15 an hour in 1028 to 1.18%; an hour in 1929, The substantial rise in wages during the last 15 years has not been at all uniform. Hourly earnings on railroads, from July, 1914, to July, 1929, increased | O 152 per cent; in manufacturing. 137 f" cent; in electric generating plants, 27 per cent, and in gas plants, 113 per cent. ‘Wage rates, however, per hour in the building trades rose 136 per cent,-and in_ agriculture, 66 per cent. Weekly earnings for manufacturing ‘workers increased 125 per cent, as com- pared with 123 per cent for workers in electric generating plants; 114 per cent for those in gas plants, and 110 per cent for those on railroads. No facts are given on the wi cuts for 1930. But that the record will show & considerable drop is already forecast. (Copyright, 1930. by North American News- paper Alliance. ADA FINDS DRUGS SMUGGLED FROM U. S. Authorities War on Newly Devel- oped Traffic in Thousand Island Region. By the Associated Press. OTTAWA, Ontaric, July 23.—Along a Thousand Island front, where Lake Ontario. flows into the St. Lawrence River, the preventive service of the department of national revenue was seeki yesterday to stem a flood of corn alcohol and narcotics, flowing into Canada from the United States. ‘This season of the year smugglers find the Thousand Islands an advan- tageous place through which to route tha contraband. Sedate, motherly look- ing women of mature age, posing as tourists, carry the bulk of the narcotics across the border, the agents have found. The cheap alcohol, made from boammti is 'li:rr‘mg) .:w“lm fast motor . ma into cheap liquor and sent back to the United States. The unusual smuggling activity is a | development of the last few years, agents said. WRITER FINDS CLIMAX IN OWN LIFE IN COURT By the Associated Press «LOS ANGELES, July 23.—H. H. Van , Who as a magazine writer spe- cializes in climaxes, yesterday figured in the crux of two situations devoid of all fiction. On a fugitive warrant. sworn to in New York by his wife, Gertrude, Van Loan was arrested for alleged aban- donment of his 13-year-old daughter, Gertrude, and later heard a denial of his receent announcement of his en- Lib A 49 103 10227 108 1 101 20 101 20 10120 101 101 29 101 26 101 29 281 1068 106 1068 26 10815 108 11 108 15 111228 11228 11228 FOREIGN. 11 1 Lib uUss uUss Uss3 uUss us+ 4 s i . Low. Close. Argentine 5s. . 89 89 Argentine 6s Ju 99% 99K Australia 4% = '56.. Australia 68 ‘55 Australia bs 57 % Batavian Pet 4%s. Belgium 6s. Belgium 6% Belgium b Belgium Belgium 8 Bolivar 78 ‘58 Bolivia 7s etfs ‘69 Bordeaux 6s Brazil 838 '26 Brazil 6148 '27. Brazil$s....,. Bremen State 7 Canada 6s'31.. 104 109 118% 118% 10915 109% g 109% 109% 73 714 T1% 105% 105% 60U 164 6 76 1001 1008 103% 103% 101101 1054 104 109 100% 1031 101 105% 109 109 93% 931 101% 101% 105% 106% 102 102 102 102 102% 10:% 9 & 100 4 119 124 8R1e 90 90y 106 106 103% 104 86% 87 961 7 2815 95% 97 Denmark 4 %s Denmark 6%s ‘55 Dutch East Ind' 47. Dutch East 1 68 '62. Fiat 7s ex war 100 119% 24% Ger §%8'30-'35 rcts 118 88% German Bank 6s°3. 18 German 7s. 7 Gen Japan s . Jugoslavia Bank 7s Karstadt 6343 K oA T TTH 957 96% 105% 105% 105% 105% 12 - 32 oo Marsetlle Mex 4s 190 Milan 6%s 89% 904 821 82% B2 824 105t 105% 99% 99% 101% 101% 105% 105% 103 105 80 90 97 97 104% 104% 105 105% 103% 103% M T1% 70% 0% 934 93% T4 4% Norway 6348 Norway 4 Norway 634 52 Ortent dev 5 6 t Dev 6 6 Parts-Lyons- M Paris-Ly-Med 1 Paris Orleans 6%, Peru Peru Peru 7s, Poland 65 *40. Poland 7a (rets) Poland 8s Prague 7% o 9 94% 941 10:% 103k 98'y 98% 104 104 0% 90% 0% 90% 2% 2% 9% 9T 65% 66 951y Rhine Wst EP 65'53 Rhine West$s '63. . Rio de Janeiro 634 . Rio 4e Jan 8s 46 Rio Gr du Sul Rio Gr Du Sul mre anse mcalRernnn BEnGeann om anBasnomat R 0SBomen Bra S To Kale - 100 951 95% 108 108% 8614 96 9 106% 1 2 105% 105% 105% 105% 1075% 107% 991 99%% 100 100 78 8 1Y% 9Ny 105% 106% 86 97 e Tok1o 6%s *61. Utd Kingm 6%s 37 Uruguay 6s 6 96% 86 17 97% MISCELLANEOUS. ADIUDI P&P 6863, 5 85 18 100 5 65 14 100 9¢ Yokohama 97 85 85 99% 100 56 65 %100 100% 9915 99 1014 101% 1035 104 Allls Chalm 58 37 Am Agri Chem 7%3s Am For Pwr 63 2030 Am1GCh5%s 49, Am int Cor 6%s 49 Am Metal 638 °34. . Am Nat Gas 6% 842 Am Smit & R 1st 6s Am Sugar Ref €s. . am T&T eva 16839 Am T&T 65 65 Am T&T el tr Am T&T 8 1 bs. Am T&T 5%s. Ty 102 1034 164 0 105% 105% 106 101 0 91 R 103 74 14 107 107 101% 101% 47% 48% o 1. R0 8915 R1% 103 Bell Tel, Pa, 68 (B) Bethlehm £t pm bs Certn-Td 6%s reta. 101% 48% 10 63 3% 4% 94% 9914 991 106% 106% 105 106 Com Inves: €5 ConGas N ¥ 5%s Consumers Pwr 6 106% 105 m:mz-m. to the actress, Marjorie beau. The warrant he termed “spite work.,” but Miss Rambeau’s statement, he said, was quite a surprise. After spending four hours in jail. @uring which his attorney scurried #bout in search of bail, he was released on $1,500 bond and ordered to appear July 29 for a hearing. He claimed Mrs. Van Loan made the charge “in preparation for the filing of a cross- complaint to the divorce complaint which I filed against ber.” NICARAGUA OIL DENIED MANAGUA, Nicaragua, July 23 ().— Howland Bancroft, representativ® of the Pan-American Petroleum Transport Co. & subsidiary of the Standard Oil Co. of Indiana, who obtained an option on the Hurtado m}l‘ concusslo;’mll&l u?c‘:.gbet‘l‘, possessing the right to on the West- em side of Nicaragua, has written a Cuban Am Sugar 83 Det Edison 6s'40. . 9313 104% 1063, 913 1031n 102 69 9814 1028 1011, 97 93 93 104% 104% 106% 106% 9l 91k 10344 1035 101% 101% 69 69 28 98 1024 102% 101% 101% 96 96k 106% 106% 9314 93% 80% BOY% 101% 101% 102 102 Dodge 3 Donner Steel Gen Mot Ae Cor Gen St Cast 6% Gen Thea Ex Goodrich 6%s. .. Goodyer b8 rets Hoe & Co 6%8 Humble O & R 6: HumbleO& R6%s 106% 934 80% 101% 102 1101 110% | A 2 Phillips Pet 6% 4 Postal Tel & C 6% Pub 8ve G 4%s 67, Pub Serv G Pure O11 6% Rem Rand 6%s war Stnelair Of1 6s. Sinclair O1l 6 Stnclatr O11 7; South Bell Tel 5 Southwest Bell Stand OfL. N Y.4%s 38 Tenn Cop 65 B 44 Tenn El Pwr 68 Tex Corp cv 63 44 Transcontl Of] United Drug 6s ‘3. U S Rubber 7%s Utah Pwré&Lt 51 Utilities Pwr 5%s Vertientes Sug 7s. Walworth 6s Walworth 6% Warn Bros F 6 Western Elec 58 Westn Unfon 6s'51. Westn Unfon 6%s. Wilson & Co 1st 6 Youngstn S &T bs. RAILR Ann Arbor 4s. Atchison ad) 4s Atchison gen 4s Fev 414848 Atl Coast Line 4s. . B & O gold 4s. . “9. B & Oref 6595, R & O SW 58 50 Boston & M 58 1955 Boston & Maine bs. Brdwav&7th Av 6s. Bkiyn Manhat 6s. Bklyn Un 1st 53’50, Bklyn Un El b; Bush Term con 58. Can Nat 4%s 54 Can Nat 4%s 57 Can Nat 4145 ‘68 Can Nat 5. July'89. Can Nat bs. Oct "69. Can Northern 7s... Canadian Pac db s Can Pacific ctfs bs. Can Pacific 58 ' Canada Sou bs. Cent of Ga 6sC 69.. Central Pacific 4s. Ches Corp 58'47... Ches & O 4%3°93 A Ches & O 4%s B 95 Ches & Ohlo con b Chi & E (1] gp 68 61 Chi Gr West 4 Ch, M&StP 4% 8 '89 ChiMIIStP&P 68'75. CM&StP Pac ad) 5s. Chi & NW gn 33%s. Chi NW 4% 8 2037, . Chi & NW ¢%s Chicago Rwys b Chi R1& P gn 4 ChiRI&Prf4s ChiRIcv4%s 60 Chi Rk I8l 4% A Chi Un Sta 4 %; Chi Un Sta 6% CCC&StL 4 %8s Cuba RR 65’36 ctfs Cuba RR 7% CubaNors %s'42 Del& Hud ref 4s *43 Fla Bast C§ S Fonda J&G 4%s '52 Gr Trunk st deb Grand Trunk 7s Grt Nor 438 (E; Gt Northern 6. Gt Northern 6%s. Great Nor gen 7s.. Hud & Man adj 5s. Hud & Man ref b 111 Cent 4% s '68 111-C-C-StL&NO bs. Int Rapid Trans by Int Rap Tr bs stpd. Int Rapld Trans 6s. Int Rapid Trans 7 Int Rys C Am b8 Kan City Term 4s. Lake Shore 43 31 Lehi Val con 45 Long Is) rf 43 Long Isl 68 37. L& N 4182003 L&NGY% ManRy 1st 45°9 Mill El Ry&L 65°61. M StP&SSM con 4s. M StP&SSM bs gtd. M StP&SSM 6% MK & Tex 18t 4s. M K & Tex 48 (B).. M K&T prIn 6s(A) M K & Tex ad) bs Mo Pacific gen 4 Mo Pac bs ¥ 11 Mo Pac 53 G *78 Mo Pas5%s '49 cv. Mont Trm ref 68’41 Nassau E) 45°61. ., O Tex & M 55(A) N O Tex & Mbs B Nor OreT&M 53s. . N Y Cen gen 3%s, %878 C& St L 6%sA C&SIL6%8 B C & StL 6s'31. . C&StL 6s'33.. NYNHG&H4s56. . wuRn Nor Pacific 4s . .. r Pac 4145 2027. . Nor Pacific 58 Nor Pacific ref Ore Wash 1st 1li Bell Tel 6s. Inland Steel 4% intl Cement b3 48 Intl Mateh 6847 105% 105% 105% 95 95 9! 100% 1007 99 101% 841 90% 1004 Sniim o Intl Tel & T Int] T&T Int] Tel&Tel 6s '65. ae 111 97 Penna 4s *48 Sta. Penna 4%s 1970, Penna con 4%s. . Penna gen 4%48. Penna 68 '64. Penna 634s....... Pere M ¢%s 1980, . Pere Marg 1st 6s. . Port RL & P 6842, o —o 1021 106% 104% 109% 98 9974 1007 90% oY% 95% 100% 102 108% 103% 105% 109% 103% 991 100% 10% T 8718 1034 $9% 110 80 100 100% 2 1050 6414 100% 9015 89% 1001, 9915 106 484 101% 8rt 98 1003 88%% 891 103% 50 99% 6 10214 B5% a4 12 Al 88 67% 9315 99 105% 118% 1017 101% 104% 109% 99 104% 100% ~95% 92% 100% 100% 99 109% 971y 9974 109% 975 99% 9714 110% 110% 7914 993 100% 105% 63% 110% 80 100 100% 106% 45 8614 72 92% 1003 90% 81y 89% 103% 102 784 1007% 100% 109 9915 102% 8315 94 122 52 84 ! RTI 67% 934 988, 105% 113% 96 101 101% 104 108% 9% 104% 100% Market Is Influenced by Stronger Tone in Stock List. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, July 23.—Bonds re- sumed their slow but steady advance to higher levels today, helped along not a little by the stronger tone of the stock market. Money« rates were unchanged and beyond the fact that the pressure of new bond issues continued light, there was nc factor in the situation calculated to increase the market’s ac- tivity. One significant development was the borrowing by New York City of a total of $130,000,000 on short term notes, maturing November, 1930, to March, 1931. The average cost to the city was between 2% and 2% per cent. The low rate reveals the continued popularity of short term, tax exempt.issues. Chase National Bank, J. P. Morgan & Co., National City Bank and Barr Brothers took the notes and none was reoffered to the public. New issues totale donly $8,500,000 consisting of $5,000,000 Oklahoma Gas & Electric, first mortgage 5 per cent bonds, due 1950, priced at 995, and $2,500,000 government of New Found- land 25-year 5 per cent bonds. The lat- ter are non-callable and are priced at 1003;. They are exempt from all taxes in Newfoundland. The shipping of another consignment of gold to France was reflected in re- newed strength in French bonds. Bordeaux’s 6s, Lyons 6s and Paris- Lyons-Mediterranean 6s touched new highs for the year,and French govern- ment 7s and 7':s made new highs for! the movement. Buying was fairly heavy in this group. Some central European issues such as Poland 7s, Karstadt 6s and Oriental Development 515s advanced fractionally, and there was firmness in_Danish government obligations and Kreuger & Toll 5s. Tk;et balance of the foreign list’ was quiet. High-grade domestic descriptions continued at or near their best prices of the year, small improvement_ being noted in Atchison General 4s, Inland Steel 413s, Standard Ofl of New Jersey 5s, Duquesne Light 4%:s, Philadelphia Co.’s 5s and American & Foreign Power 5s. Convertibles made good progress as stocks advanced. American Telephone 4128 (1939), gained nearly 2 points. Smaller gains were made by Baltimore & Ohio 41is, New Haven 6s, American International 5!,s, Philadelphia & Reading Coal & Iron 6s, Atchison 415s, Southern Pacific 41;s, International Telephone 4155, General Theaters Equipment 6s and International Ce- ment 5s. The rest of the domestic list was dull, though there was firmness in a few junior rail bonds like Chicago & Eastern Tllinois 5s, St. Paul 55 and Seaboard Airline 6s, and industrials such as Fisk 8s, Chile per 5s and National Dairy Products 5%s. Oils and tractions tended higher. Washington Stock Exchange SALES. Wash. Gas 55—$500 at 10313, 8 at 10315, o 91000 ‘Wash. Gas 6s A—$100 at, 1011, ‘Wash. Gas 6s B—$200 at 1033, Cap. Tract. Co.—10 at 6715, 5 at 67%. Pot. Elec. 515% pfd.—5 at 108, Wash, R. & E. pfd.—10 at 9815, 10 at 985, Second Natl. Bk.—2 at 175. “The Carpel Corp.—50 at 22 . | Woodward & Lothrop pfd.—50 at 110. AFTER CALL. The Carpel Cotp.—50 at 221%. Capt. Tract.—10 at 67%, 10 at 673, 10 at 67%, 10 at 67%. Pot. Elec, 5%% pfd—2 at 108, 5 at 108, 75 at 108. Cap. Tract. 55—$5.000 at 941, $1,000 at 9415, $500 at 94%, $500 at 04%. Cap. Tract. Co.—10 at 67'2, 30 at 6715, 10 at 67%, 10 at 67%. Bid and Asked Prices. BONDS. PUBLIC UTILITY. as. Balt. Washington' Gas 5s.. .. Wash. Gas 65, serles A Wash. Gas 63 series B...... Wash. Rwy. & Elec 4s.. 2 MISCELLANEOUS, Barber & Ross. Inc. 6%4s...... Cheyy Chase Club 5)as D.°C. Paper Mis. 65 W. M. Cold Storage 5 Title 6 ~ash. Cons. A STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel, (d9) Capital Tiaction' Co. Wash. Gas Light Co. & W Steamboat (d12) Ca Columbia. Commercial District (8).. i Federal-American {10} (12) (stamped) (10) Washington «:3 TRU! Amer. Sec. & Trust C Continental Trust (6) Merchants' Bank & T Natonal Savings & Trust (12} Prince Georges Bank & Trust.. Union Trust (88)............. Washington Loan & Trusi (i4). SAVINGS BANKS. Benk of Bethesda, (65). . Commerce & Savings (i0) East Washington (12)... e Potomac Savings Bank (i) . om. Bank (17) United States (30). Washington Mechanics' (20} FIRE INSURANCE. American (12) ... 3 Corcoran (10). 180 Piremen's (8).... " National Union (i8)... . 5 TITLE INSURANCE. Columbia_(8h) Real Estate (6h).. Title & Inv. Co. com MISCELI Barber & Ross, Inc., com Chevy Chase Dairy bfd. Bromo-Selz, eral Storage pid. ( Am. Co. com. - | cline. H&Hbpf (7). team pf (6)... 10s North Am(b10%stk) 103 North Am Aviation. 14 No Ger Lioyd (3.43). . 3 Northern Pacific (5). 4 Norwalk Tire & Rub’ O1] Well Supply..... Ol Well Sup pf (1) Oliv Fr Eq ev pt(3). Omnibus Corp. ..... Omnibus pf( A) (8). Otis Elev n(23). . Owens 111 Glass (3). Pacific Coast. Pacific Coast 2 pf. Pacific Gas & £l (2). Pacific Lighting (3). Packard Motor (1).. 128 Pan-Am Petrolm. 2 1 Param’nt Publix (4). 60 Park & Tilford (13). Park Utah.........0 Parmelee Trans 1%. Pathe Exchange. ... Pathe Exchange (A Patino Mines....... Peerless Motor Car. Penick & Ford (1) Penney (J C) (8). 1 wrafeeleremmane b Peop Drug Strs(1).. Pere Marquette (18). Petrol Corp (13%) Phila Read C& L Phillips Petrm (n2) . Plerce-Arrow of (6). Plerce Petroleum. .. Filisbury Flour (2). Pirelll, Italy (a3.14). Pittsburgh Coal pt. Poor & Co (B) (2)... Postal Tel & C of(7) Prairie Ofl & Gas(2) Pub Serv.N J (3.40). Pullman Corp (4) Punta Alegre Sugar. Pure Oil (1%)...... Purity Bakeries (4). Radio Corp. 2179 Radlopf A (3%).... 2 Radlo-Keith-Orpb A. 842 Rayb: 1 Man 2.60 Rea) Silk (6). Rem Rand (1.6 Rem-Rand 24 of i Reo Motor Car «80c) Republic Steel (4) Republic Steel pf (6) Revere Copper & Br. Revere C&B of (7).. Reynolds Metls 2.40. 8 Reynolds Spring. ... 7 Reynolds Tob A (3). 1008 Reynolds Tob B (3). 81 Richfleld Ol (2).... 92 Rio Grande O1l (2).. 6 Rossia Insur (2.20) 9 Royal Dutch a3.2165. Safeway (e8) Safeway pf (6).. St Joseph Lead (13). St L-San Fran (8)... St L Southwestern. Schulte Retail Str: Seaboard Air Line Sears Roebuck(12%) Second Natl Inv Servel. Inc. Sharon Stl Hoop Sharp & Dohme Shattuck(FG) (1% Shell Trans (a2.423) Shell Union (1.40). . Shell Un Ol of (5%) % Shubert Theatres Stmmons Co. . Simms Petrm (1.60). Sinclair Con O11 (2). Skelly O11 (2). ... Skelly O1l pf(6)... Snider Packing pf Solvay Am pf(5%).. Sou Porto Sug (1.40) Southern Cal Ed (2). 1 108 Southern Rwy (8). Spang-Chalfant..... Sparks Withngtn(1) Spear & Copt (7)... Spiegel-May -Stern. . Stand Branas (1%). 4 S1and G & B (3%)... Stand G & E of (4).. Stand Gas& El pf(6). 113% Stand Gas&El pt (7). N Stand Oil of N J(12). 950 T8% Sterling Sterling Stone & Tenn Co Thatche Thatche Timken Timken Transco: Und-Ell. Union B Union P: as Utd Gas U S Exp Wabash Walwort Warner Warner. Warren Warren Weston Yale&T Am Tel oay s un stock §Pavable A2 Sock 110% 8% In stock © 9614 1L 1 Stand OfIN Y (1 Stewart-Warner (1). Studebaker Corp (4) Superheater (13%).. Sweets of Amer (1) i Symington Symington Telautog'h C (11.35). Texas Corp (3). Tex Gulf Sulphur(4) Texas Pac Land Tr.. 150 Tobac Prod(A) (80e) Utd Afreraft........ Utd Afrcraft pf (3). Utd Carbon (2)..... 4 Utd Cigar Stores United Corp (23%).. United Corp pf (3).. Utd Electric Coal. uit (4)... . Utd Stores (A). Utd Stores pf. Alcohol (17)... U S Steél (7) U S Steel pf (7).. Cniv Ple 1st pt (8).. Univ Pipe & Rad. ... Util PWwr&Lt A (e2). Vadsco Sales pf (7). Vanadium Stl (14).. Va-Car Chem. . Va-Caro Chem 6% pf Vulcan Det (4). Waldorf Svatm(13) Ward Baking (A) Ward Baking (B) Ward Baking pt (7). -Quinlan (1). Inghse ». B (2). nghse E&M (5) 338 Westhse E&M pf (5) 180s Westvaco Chlor (2). Wextark Radio Strs. White Motors 2) White Sewing Mach. Willys-Overland. Woolworth (2.40) Worth Pump. Wrigley (Wm Sales of Stocks on New York Exchange Dividend rates as given ‘ments based on the latest Unit of trading less than 100 in scrip. YPlus no regulac rate. b Payable in stock in cash or stock. 1Plus 8% 32 Seo (A) 4 Sec ev pf (3! 1 27 16 4 4 1 A 1% ) a9 241 83% 32% 40% 114 3% 1 18% 1% 52% 57% 22% Webster (4). e 6 23 2 2 48 52 D& Ch (1).. r Mg (160). T pf (3.60).. Thermold Co. .. v Thompson (J R) (3). Thompson Prod(2.40 ‘Thompson Starrett. . Thomp-Star pf (3%) Tide Water As (60c) Water As.pf (6) Det Ax(80c) Roller (3).. 14% 6413 1216 ntl Ol (30¢) Transue & W (1). Tri-Contl Corp. Tri-Cntl Corp pf (6). Trico Prod (2%). Truscon Stl (£1.20) . Twin City RT of (1) 10s -Fischer (5). 11 2 12 ag & Paper.. 2 Union Carbide (2.60) 103 Unlon Pacific (10) oo e g acific pf (4). 17 17 . 38 . 409 13 19 7 108 9 & Imp(1.20) & Imp pf(5) ress. 10% 34% 53w 23 N e [ POPRY - Jud TV BOpRY - 145% s °% 16 » 1192 4 4 . 840s 6 65 1 . B0s th Co (2).... 2 1 Bros Plo (4). 266 12 Bros (3). Fdy & P (. 3 10 El Instr (1). 12 2 1 8 owne Mg (4 Yellow Trueck. Yellow Truck pf Zenith Radlo. .. RIGHTS EXPIRE & Tel.Aug 1 446 345.400 1,754,100 n 12:00 Noon 2:10 P.M. above table are the annual ci terly or half yearly declaratiol tPartly extra {Plus ock. a Pald last yeas able when ned e Pay- stock. =‘leu 6% in stick & Plus 3% in stock. o Plus < 1,170,600 1918 400 g shares % In d 0% 1o 1 Plus Corporation News NEW YORK, July 23.—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. ! with present trends steel operations show little change, while | raflroad car loadings ntinue to de- Reports from the oil industry |are still constructive. ‘The steel industry as a whole reports current operations at rate of 57.5 per | cent, compared with 57 per cent a week | ago, and 95 per cent last year. United | States Steel subsidiaries, now at 64 per | cent, gained 1 per cent over previous week, but are 35 per cent under the 1929 figure, while independents at 52| per cent record no change from last week, The 1929 rate was 92 per cent. Freight car loadings as reported by American Railway Association for week to July 12 were 915985 cars, against 792,141 in the July 4 week, but a drop| of 150,429 below the aggregate in the| corresponding 1929 week. | American Petroleum Institute reports| a reduction of gasoline stocks at re- fineries during the week to July 19 from 47,792,000 barrels on July 12, to 45,937,000. A drop of 31,148 barrels in | daily domestic grude output was also| of interest. Corporation reports now appearing from all quarters continue to show | varying results. F. & W. Grand, U. S.| Leather, Allis Chalmers and Penm(‘ki & Ford are among the companies show- ing improvement, while Hazel-Atlas| Glass, Hercules Powder and Trico Prod- | | ucts are less favorable. ‘The Companies. Allis Chalmers Manufacturing earned 94 cents a share in June quarter against 93 cents; $1.87 in six months against 1.74. ¥ erican Ice Co. et six months to June 30, before depreciation and Fed- eral taxes, off .75 per cent. Aviation Corporation carried 7,708 passengers in June, or 11 per cent over previous month; 34,959 In first six | months. Brooklyn Manhattan Transit prelim- inary report shows $7.69 share in year ended June 30. Canadian Pacific and Canadian Na- tional Rallways acquired interest in Western Canada Airways and Cana- dian Alrways. In line had deficit $684,763 in five months to May 31 against deficit $126,446 year ago. Magma Copper June quarter share earnings, 55 cents against $1.99; six months, $1.50 against $4.42. Company produced 8,028,977 pounds refined cop- per in three months to June 30 at cost of 951 cents a pound (after deducting gold and silver values), compared with | 9,892,826 pounds at 9.58 cents a year ago. Mapes Consolidated Manufacturing June quarter share earnings, $1.90; gz; year ago; six months, $4.66 against McKeesport Tin Plate six months’ earnings, $5.04; last year, $3.61. Penick & Ford earned 80 cents share in June quarter against 72 cents; six months, $2.14 against $2. Pennroad Corporation to initiate divi- dends on preferred of Detroit, Toledo & | Ironton Railroad; accumulated interest | on_adjustmént bonds cleared. Peoples Drug Stores, Inc., earned $1.18 a share in six months to June 3. Snider Packing subsidiary plant at Marion, Ind., to start operations in August, employing about 500. Square D Co. had net income®of | $89.136 in period January 2 to June 14. Timken Detroit Axle subsidiary oil burner sales in first half 53 per cent above year ago. Vice president says June sales 62 per cent over last year. Trico Products June quarter share earnings $1.56, against $1.90; six months, $3.09 against $3.70. _ United States Leather net of $19,859 in June quarter, against defleit $1,125,- 765 year ago: six months’ net $196,187, against deficit $1,969,439 last year. _United States Steel subsidiary, Na- | tional Steel, gets contract 75,000 tons | pipe. New Great Lakes Pipe Line Co. | gets option expiring August 25 to buy | business of Oil Well Supply Co. | Markets at a Glance NEW YORK, July 23 (f).—Stocks strong: industrials lead 2 to 8 points advance. Bonds steady; stock priv- ilege issues most active and higher. Curb strong; Trans-America rises 2 points. Foreign exchanges firm; ster- ling advances. Cotton lower; _poor trade demand. Sugar easy: Cuban selling. Coffec lower; disappointing European markets. CHICAGO, July 23 (#).—Wheat easy; large receipts and rain North Dakota. Corn steady: bullish weekly weather re- REUNION CALLS OLD . SOLDIERS TO FEAST Nonogenarians Vie With Octoge- narians at Confederate Anniver- sary of Battle. Special .Dispatch to The Star. CULPEPER, Va, July 23.—In spite of the intense heat one hun- dred and seven guests accepted the in- vitation of Mr. and Mrs. Willlam G. Wood of Rappahanock County, and met in reunion at the Wood home near Sperryville on Saturday for a day of music, reminiscence and feasting, with an address made by Attorney Burnett Miller of Culpeper. At the first table in the spacious din- ing room sat the guest of honor, “Mother Crim,” of Newmarket, who will always be revered throughout the South for her heroism in caring for the wounded V. M. I Cadets taking part_in that battle in the Spring of 1864, with 10 ' Confederate veterans surrounding the board. Mother Crim is 93 years old, and the average age of those at the table with her was 88, but they braved the fierce heat to attend this reunion with old comrades, just as many of them braved the July heat on today 69 years ago, when they fought in the first Battle of Manassas. ‘There were veterans present from the counties of Rappahannock, Madison, Culpeper, Page, Warren, Fauquier, Orange, Shenandoah, Augusta, Rock- bridge and, indeed, from practically all of the 22 ‘counties and four Virginia cities which were included in the invita- tion of Mr. and Mrs. Wood. The oldest man present was J. P. Beuchler, 92, who had served from '61 to '65 as a member of Company D, 2d Virginia Cavalry, and was twice wound- ed and twice taken prisoner. A close second was James M. Chelf of Flint Hill, member of the 6th Virginia Cav- alry, who was 92 also, and W. O. Rust of Company B, 17th Virginia Infantry, who, despite the fact- that he wa: wounded twice during his service, has lived to be 90 years old. None of the veterans who registered was under 83 years, many of them being 87 and 88. Among the survivors of Mosby’s com- mand was Fontaine Rose of Fauquier, who disregarded his 84 years to do a |Boston Financial Expert Be- lieves New Industries Will Aid Nation. Special Dispatch to The Star NEW YORK, July 23—R. W. McNeel of Boston is one financial expert who sees no gloom ahead for business. “We are on the threshold of the | greatest boom that the country has ever known,” he says. “The country faces a program of expansion, invention, scientific development and the arising of new industries and new modes which promise to make the next 10 years in American industry and finance far greater than the last 10 yeai “The business leader who is pes today has a vision that is too provincial, an outlook that is too limited, and a | courage that is weak.” But what's to bring this new business boom into being? Mr. McNeel is ready with many suggestions: Television, new building construction, natural, gas and pipe line developments, frozen foods, dry ice, the airplane in- dustry, film phonographs, heating radio, artificial ventilation, electrification of railroads, electric welding, electrically made steel, the use of glass brick, the use of chromium, copper, bronze, alumi- num, rustless steels for building exte- riors, electric ships, humidified indoor air, central heating and cooling systems, central newspaper plants and flashing newspaper pages by television across the country. He enumerates t‘h scolt'f of other «mg-r stions, saying that the program o gAemeflcln expansion in the next decade will be “greater than anything that has ever been accomplished in any similar period in the life of the Nation. One of the largest general merchan- dise distributing agencies in Chicago has announced drastic cuts in more than 4,000 merchandise items, de- scribing the changes as ‘“one of the most inclusive downward revisions of prices in the history of Amegican mer- ‘handising.” 5 ‘The rr:sofl advanced for this revision is the discovery that the public in many localities are on a “buying strike. % “People are expecting lower prices, says an officer of the company. “‘They are not wlling to buy goods at last Spring’s figures. We are offering our merchant customers the lowest prices in months and in some instances the low- est in years, and are recommending that they pass these on to the public. This is_ dene in the hope that the public will \recognize the lower price level as “stable.” ‘How much lower are prices now than a year ago? Wheat is down more than 50 per cen corn about 20 per cent, cotton fully 5% r cent. lJeWool. ‘which sold at 94 cents a pound a year ago, is selling at 75 cefits now. Raw silk, which sold at $4.85 a pound a year ago, sold last week at $3.17}3. Cotton goods, 7% cents a yard a year ago, is selling at 5 cents now. Put it this way: According to Brad- street’s weekly food price index, it took $3.36 to purchase one year ago what $2.67 will purchase today. So money now has about 25 per cent more pur- chasing power, in the line of foods, than a year ago. . {’nslde‘l‘:z Hoover’s comment that he was not nearly as much worried about the wheat surplus as about “the sur- plus of farm leaders only adds more fuel to the rural fire now raging, especially in the Middle West and South. Last week a special committee of the American Bar Association condemned '| the farm relief measure as “‘an uncon- stitutional and vicious attempt to de- base our great republic into a Soviet commonwealth.” Today the Federal Farm Board finds itself holding the bag to the extent of 60,000,000 bushels of last year’s wheat, and 1,250,000 bales cf cotton. This surplus, in itself, is one of the most u?‘pomnt factors in holding down ices. " Even the Nation, the Liberal weekly, takes @ crack at the Farm Board policy, thus: “The Government itself is in the worst possible position for pleading with the farmers (for reducing wheat and cotton acreage), for the whole theory of the idiotic plan of farm relief is that the Government, by buying and holding any surplus, will thereby steady the market ard so indirectly regulate prices.” Here are two opinions—one conserva= tive, and one liberal—both condemning the present farm relief experiment. “The farm reliefs progtam spells calamity,” continued the Nation. “It means stagnation for agriculture, huge financial loss ta the Government and continued depression in every industry | whose products the farmer would ordi- narily buy, in addition to jeopardizing the existence of a multitude of the legitimate middlemen.” It is difficult to see how the Farm Board can make much progress in the direction of more limited production under such strong opposition. Still, in the present drive for acreage reduction lies its only hope for immedi- ate success. It's one of the two big factors needed in any agricultural re- vival. The other factor is a well or- dered and well established co-operative marketing machinery, backed up by the farmers themselves. Prof. John Dewey's plea to President Hoover for a special session of Congress 10 enact unemployment insurance comes at the same time that Great Britain announces the greatest unemployment in the last nine years—1,933,000 people receiving government doles, an increase of 42,000 in the last week. Prof. Dewey calls attention to-the statement of the National Bureau of Economic Research ,that the national income in '1928 was. $89,419,000.000, while, exclusive of wheat, the total value of America’s merchandise exported amounted to only 5 per cent of the na- tional income, and then the professor | proceeds to suggest his plan to “im- | prove business conditions to a very | marked extent.” “A national system of contributory unemployment insurance, with the Fed- {eral Government paying $1.000,000.000, with the several States and employers | and employes jointly the same amount— in the aggregate 2.2 per cent of the na- tional income—would largely relieve the | most_serious unemployment,” says the well known Columbia professor. It's not a burdensome plan, for Prof Dewey points out that the “proposed | Federal - Government's contribution to | conquer this real menace at home i {only a small amount more than it | spends to prepare to fight a non-ex- istent enemy abroad.” ' Owen D. Young said recently that us employment was not a “necessary evil. | but a human problem capable of solu- | tion. This is the enlightened attitude | of the modern leader. | (Copyright. 1930, by North American News- Daper Alliance.) song and dance for his fellow guests| and did both most cleverly, and T. V.| Leach. Willilam D. Colvin of Culpeper | was the only survivor of the Culpeper President Moncada stating tha letter to te ofl does not exist there. . Chrysler division De Soto Motor poration added 674 new dealers in x_months. Colorado & Southern seeks to discon- Cor- | port. Cattle irregular. Hogs steady to 105% 105% first | higher. 106% 106% % 6% Kan City P & Lt bs. 62. . Kendall 6%5'48 ww NOTED CHEMIST DEAD 100 29% 100 994 Reading gen ¢% A. RIArK & L ¢% Ice Cream Festival Planned. HERNDON, Va. July 23 (Special) -~ Women of the Fortnightly Club will ®old an ice cream festival Saturday eve- ning in the station park,.the proceeds o be used tp help make a payment on fhe library building. Mrs. Benjamin F. McGuire is chairman of the committee on arrangements, assisted by Mrs. Arthur H. Buell, Mrs. Harry B. Mitchell and Mrs. Harry G. Breckinridge. Federation Meet Postponed. BALLSTON, Va., July 23 (Special).— ting of the Arll ds 8. unced that it ~ Pes been postponed un ursday, v%‘.uult'l *a held nmlzuahrk Laclede 5% Lactede 5% s D 108% 103 833 99% 94% 108% 101% 102t 831 103 103 103 103 53 83 9912 99% 9419 9414 103 103% 101% 101% 1021 102% 83U 83% 9% 9TH 97X 2 107 107 107 1 106% 105% 105% 2 114% 114% 114% 1 2994 198% 107 107 1 110% 110% 110% © 2 102% 102% 102% 5 108% 103% 103% 22 104% 104% 104% £ 1044 104 104 2 106% 1061 106% 1 102% 102% 102% 1 105% 105% 105% 2 104% 104% 104% Larillard 6% . Lou Gas&E!l 68 62, Midvale Steel & Montana Pwr db 68 Morris&Co 1sté%5s. D MBI G S 5! Nor States Pwr 6s. Pacific Gas & B1 PacT&T Pan Amer Do ot HORAwANER O BHEBNS StLIM&SS P o e naRDaRBREaRANAS StL&SanF bs B StLS W 1si St L8 W eon San An&Arn P Seaboard AL cn 6s. SBAll Fla 63 35 A SB All Fla 65'35 B. Sou Pac ref o ‘Third Ave ad) 6s. Union Pac 1st 4s.. 1 101w 1 | Wabash 438 ‘78, Wabash 24 ge. com. Bldg Cor) Woodward & Lothrop $Ex dividend, . otd.” (7). 7 ext dEX rights. wi—When issued. Bales. High. Close. Union Pac 4%s.... 1 100 100 Virginia Ry 1st 8s. 12 106 106 106 Va Ry & Pwr 4 101% 101% 101% 33 .93 92% 92% 2 101% 101% 101% 004 100% Low. 100 tinue Denver-Leadville passenger service, claiming loss of $40,000 a year through operation. : Duquesne Gas proposes increasing au- | thorized common from 13250,000 to 5,- | 000,000 shares. | F. & W. Grand-Silver Stores earned | $1.71 in six months to June 30, against | $1.47. Hazel-Atlas Glass earned $101 in June quarter against $2.86; six months, $1.56 against $3.03. Hercules Powder earned $1.11 in June quarter lg-lnlt $1.51; six months, $1.99 against $2.74. Howe Southern D earned 92 cents share in June quarter against $2.07; six months, $238 against $407. | H. D. Lee Mercantile six months' sales to June 30, 8 per cent over year ago. In Printing share juarter, 82 cents; 72 cents year June Chase | Ghat Phenix city NEW YORK BANk‘ STOCKS NEW YORK, July 23 (4).—Over-the- counter market: | Bank Stocks. America 5 Bk of A 8 inits Broadway Natl . Fifth Ave First Natl N Manha Peoples Natl Trust Companies. nt Ha S Chelsea_ Bk & Tr e BE & T . New York Minute Men who wen forth at the be- ginning of the war, and as sergeant, was commanding officer of the company ! when it stacked arms at Appomattox. | all higher officers having been either wounded or captured in the last day's fights before the surrender. MONEY MARKET. NEW YORK, July 23 (#)—Call| money renewed at 2 per cent today and | remained steady at that figure through- | out the day. Time money.was dull, and | 60, 90 and 120 day loans were one-quar- ter of 1 per cent lower, at 21 to 2% for 60 days, 2% to 2% for 90 days and 2% to 3 for 120 days. ’Com;nfimi paper was unchanged, at 3 to for best names. Bankers acceptances asking rates also were un ¢ have been estab- Btates S 111111 Westchester Title & Tr | Rocky Ford and Delta, Colo. | Wyatt William Randall Expires at Johns Hopkins Hospital. Special Dispatch to The Star. BALTIMORE, July 23 —Wyatt Wil- liam Randall, well known chemist' and | member of the faculty of the School of Hygiene and Public Health at the Johns Hopkins University, died in the John: Hopkins Hospital yésterday. He had gone to the hospital for a minor operation and that had been per- formed. r. Randall was born in Annapolis January 10, 1867, the son of Alexande: Randall. He was graduated from St John's College, did research work in University College, London, early in hit | career, and was assistant and associate in try at Johns Hopkins from 1889 to 1898, when he resigned. He re- jolned Johns Hopkins in 1911 and serve¢ on various commissions and had written several theatises on chemistry.