Evening Star Newspaper, August 10, 1930, Page 59

FINANCIAL. FINANCIAL, THE SUNDAY STAR, WASHINGTON, D. C, AUGUST 10, 1930—PART SIX. CURB ISSUES DROP 'SENTIMENT BETTER * INBRISK TRADING - IN METAL MARKET _Spasmodic Rallies Due to Larger Automobile Output! Short Covering Fail to Helpful—Foreign Copper Check Decline. Sales Are Fair, 1930. Last W ‘This Year. 2,440, 4 159,627,080 12,592,700 283,376,694 Net Hirh Low. Close, Chge. . 30 30 30 -11% +3 | 1% 3% 1930 'WEEK ENDING AUGUST @igh. Low. Stock and dividend. 55% StandPwré&Lt (2)..... 54 Stand Pwr & Lt (B) (2). & Stand Silver Lead 14 Starrett Corp. .. Starrett Corp pf (3) Stein (A) & Co(1.60). 4% Stein Cosmetics Ine. 9 Sterchi Bros Stores. . 6% Stinn 914 Stra: 26% Stromberg-C: 12 Struthers Wells Titu 1% Stutz Motor Car 5 Sunray Ofl (40c). 36 Sunset Strs pf(3%) 28 Swift & Conew (2). 30 Swift Internat’l (235).. 90 Swiss Amer E1 pf(6)... 4% Syrac W Mch B (1)..... 5414 Tampa Electrie (12). 21 Taylor Milling (13) 25% Technicolor, Inc. . 4% Tech Hughes (60c). . Btock and_dividend. Northwest Eng (2). ..+« % Novadel Agene (12%) Ohio Copper. Ohio oup?:t% Ohio Ol new wi. ©Ohio Ol pf new ( O'stocks Ld B (50¢). Orange Crush (1.50) Outboard MotA (1.80)... Outboard Mot B. Overseas Securities (1). TacG & E1st pf (1%) Pac :vub Ser (1.30) o T o 56 Total nuthber of shares sold. - ilg " Elec Shareholding (21). Elec Sharehold pf(a6), Empire Corporation. Empire Fire Ins. .. Empire Gas&F cm pf(7) Empire Pwr pt (14.04)., Emp Pub Svc A (a1.80), Engineers Gold Eureka PipeLine(4 Euro Elec, Ltd deb rt; Evans Wall Lead. . Ex-Cello Air & Tr (80c). Fabrics Finish... Falcon Lead. . Fandango Corp. Federal Screw (3). Fiat receipts (1.25) Finance G Balt A, % First Nat Coppe Florida P & L pf(7). Fokker Afrcraft... Ford Mot, Can A (11%). Ford Mot, Can B(f1%3).. Ford Mot, France (28¢) Ford Mot, Ltd (37%¢) k) 633 317 Stoek and. dividend. 30 Aeolian Co pf (7). 10 Aero Underwrits 16% Affiliated Prod Inc 19 Agfa Ansco... 81 Agzfa Ansco pf. Aln'worth Cor ($3%) 930 — Low. 1% % I RERERBEE ) B ) 12% 10215 Ala Great Southern(t1). 106 111 Ala Pwrcum pf (T)..... 1144 1% Alexander Indus 4 Allegheny Gas Corp. % Allfed Aviation... 321 Allfed Int Inv evpf (3). 815 Allled Mills, Inc(60e)... 1 Allison Drug Strs A 210 Aluminum Co of Am 105% Alum Co Am pf (8). 97 Aluminum Ltd pf (new) Am Br Bo El Fd Shs. Am Capital (B)... AmCit PRL A (a3)..... 2% Am Cit P&L(B) (b10%) 201 Am Colortype (2.40) 21% Am Cmwlth P A(b10 3414 Am Comwlth Pw Bb10% % Am Control 17% AmCyan B 3 Am Dept St 124 Am Equitie: +11 2 12 & By the Associated Press. | *NEW YORK, August §.—Trade sen- timent in the steel market was a trifie ,more optimistic during the week as a result of increased automobile produc- tion and the reports from the Chicago | district that business, in some instances, | was the best in weeks. However, other important points failed to reveal mar- ‘xez activity, but on the other hand | reported continued caution on the part of the buyers in the matter of placing tion protected its profits soon after the ‘I‘,‘:!“"x.‘:"‘"’.}.‘h': s st * opening of the second hour. There was | ESURT The Suly ingot production ~wnother downward gesture toward the |Tg7, "Rl §rc, RSt SRR Septembet # elose, with the result that the extreme mlrke'- Wwas more active, “hdvanices from the day's high quotations | ™goreign “buying of ‘copper continues :]elrelg:t"lnd the market closed gener- |, mr volume, but domestic consumers, BY JOHN L. COOLEY, Associated Press Financial Writer. NEW YORK, August 9—The Curb 7 met further selling pressure in an ac- tive two-hour market today, but short +*eovering in the late trading reduced or « Sliminated the early moderate declines. . After a heavy opening, prices slid off rather easily under the weight of pro- Yessional liguidation, but the bear fac- " 3 Paramount Cab ( Pennroad Corp (20¢) Pac Gas & El pf(1.37 Penn Mexico Fuel (1) . Penna Water & Pwr (3). Peoples L&P (A)(a2.40) Petrol Corp war. Philip Morris Inc. Phillippe (L) B (11 D).< Paragon Ref ctfs. Pierce Governr (1%). Pilot Radio Tube(A). . Pitney B Pos n(20c) Pitts & L E (110)....... Pittsbgh Forgings(1.60) Plymouth Oil (2). = serxeeis S22 $%2s Flo 4110 l+ 41 ++1 4+ 14+++1 1 (R 6 14U 1+40+ 18 33% 45 1% 2% Thatcher Sec Corp. 65 Thermold Co pf (7) 103% Timken Det Axle pf % Tobacco Prod Export 4% Todd Shipyard (4)..... 107% Toledo Eidisn pf(7). ... * 5% Trans Ailr Trans. . 4% TransLuxDLPS. 44 50 . 110% Frankiin erCont @. 8l Garlock Pack (1.20). L1+ 44+ = *uilities ana investment trusts were | minent in the decline. American s & Electric broke more than 5 points | oM disposition to a ":m"z?":'?‘En"dcils"fi.'r:"a}gm’g‘g' mitments. " Export. saies ectric Bon ©40% the previous close, Tallied materially | Chief sustalning factor, * and finished % higher. Miagara Hud- | # gon, American Superpower and United ~Light A held steady. Offerings of Cosden Ol met with little ~support an dthe stock lost 2 points. Houston was off 1. Cities Service was » actively sold for a time, but the cover- ~ing ‘was equally aggressive and_the “shares showed & net gain of 13 Vac ~uum railied a point. In the specialties Cooper Bessemer, ’New Haven Clock and Technicolor lost int. Newmont Mining was up 4. ldman Sachs Trading made a new low of 15113, but closed firm. United Foun- | * ders lost nearly a point before more _,than recovering. Flyer's Fine Returned. OTTAWA, August 9 (#).—A $600 fine imposed at St. Paul on Maj. Gen. J. H. MacBrien, president of the Aviation League of Canada, has been ordered re- turned, he was informed from Wash- ington. yesterday. ‘The fine was for a violation of a reg- ‘ulation which requires airplane pilots “to report to their customs officers on " arrival in the United States. It was . pointed out to Washington that the * general had made every effort to find , &n officer in both Chicago and St. Paul. Ex-Emir Reaches Athens. ATHENS, Greece, August 9 (#)— Amlmmlh former Emir of Afghans tan, passed through here today, en _ Joute to Rome. It was thought when “he left Istanbul that he might be “ headed toward Afghanistan, to which he has not returned since his deposi- 7. tion as its ruler. | using copper_is home demand to some ducers continue to quote Valley. with apparently no defini Lead was firmer and signs of ments. By the Associated Press. CHICAGO, _ August (Channing) the Philippines in trations. the two childre: cago. The son, Peter, 17, said. The diplomat, who abandoned him in Paris ned to search for his son ing to Switzerland. . weighs something like 20 {who are well supplied, are practically out of the market. There has also been to await 11 cents delivered in the Connecticut Tin prices moved over a narrow range consuming demand remained routine. was good early in the week there were it_subsiding later as consumers filled their August require- CHRISTIAN GROSS GIVEN DIVORCE FOR DESERTION mother. “somewhere in Europe,” the July further com- the | are now although re- | sumption of activity in some industries | ‘expected to improve extent. Pro- electrolytic at te course. The while demand larger 9. — Christian Gross, World War hero, writer and attache of the American le- gation in Bern, was granted a divorce yesterday from Mrs. Virginia Harrison Gross on charges of desertion. Mrs. Gross is a daughter of Francis | Burton Harrison, governor general of the Wilson adminis- Gross was awarded the custody of . The daughter, Bar- bara, 5, was with her father in Chi- wes with his Gross sald his wife in 1926, plan- before return- The skeleton of the average whale tons. WEEKLY FINANCIAL HIGH LIGHTS “ By the Associated Press. Thisweek. Last $3,214,000 $3,228,000 83.1% 83.5% $576,224 2,961,178 205,933 9 688,290 9" 349 2,515,300 $576,368 3,004,982 197,101 9,011,779 928,256 2,488,700 1 1.029.310 $42,060,000 $121,293, Mfl .;- 372 9] 000 % $6,020,000 14.6% $157,600 2,940,032 1,064,070 12,915,197 1,102,553 2,908,600 20,515,050 $63,096,000 $66,430,000 7-12% 834-9% 6-6Y4% WASHINGTON STOCK EXCH YEAR 1930 TO DATE ANGE (Reporfed by W. B. Hibbs & Co.. Hibbs Bullding. Washinston. D. C.) lu..l! OCCURRING ON THE WASHINGTON STOCK EXCHANGE FOR 19: INCLUDING FRIDAY, AUGUST 8. BONDS. PUBLIC UTILITIES. Anacostis & Potomac Riv. B. R. lst 5s, 1049. Anacostia & Polomac Riv. R. R. guar. 5s 1949 C. & P. Telephone of Viszinia 5s, 1943 Capital Traction 1st 5s, 1947 .. City & Buburban By st Ss. 1948 . Georgetown Gas Ligat ist 5s, 1961 Potomac Electric » mwer cons. 5s, 1 Potomac Electric Yower gen. & ref. 6s, 1953 Washington, Balumore & Aunapolis 5s 1941.. Washington Gas Light gen. 5s, 1960 ... Washington Gas Light series A 6s, 1933.. Washingion Gas Light series B 6s, 1936 Washington Railway & Electric cons. 4. MISCELLANEOUS. Barber & Ross, Inc., 6%s, 1937 . District of Columbia Paper Mfg. 1st 6s, Poiomac Joint Mtock Land Bank 55, 1934 Washiuston Cons. Title 6s, 1951 Washington Market 5s, 1938 Open. High. Lew. 8 103 108%2 6 104 1951 1997 BTOCKS. Par Div. value. raie. 3100 54.00 100 12.00 PUBLIC UTILITIES, Capital Traction .. N. & W. Stesmboat N. & W. Steamboat rights . Potomac Electric Power pfd. Potomac Electric Power pfd. Washington Gas ... hington Ry. & Elect co hington Reilway & Elect. pid. 923 210 17% 13% 109%2 130 560 99%2 58 221 16 100 800 100 20 100 108 500 NATIONAL BANK: Capital Commercial District Federal-American Liberty Lincoln Metropolitan Riges Becond Washington TRUST COMPANIES. American Security & Trust . Continental & o Merchants’ k & Trus National Savings & Trust Union . Washington Loan & Trust BAVINGS BANKS. Bank of Bethesda East Washington Potomac Savings Security Savin Washington M. FIRE INSURANCE. Firemen's National Union 250 255 217 203 216 400 am 533 210 215 TITLE INSURANCE. Columbia = Real Estate . .. Title & Inv. Co. of Md. com. MIACELLANEOUS, Barber & Ros Chevy Chase Commercias National Co. pfd. . D. C. Paper Mfg. Co. pfd District National Security Emerson’s Bromo-Selzer Federal Storage Co. pfd. Lanston Monotype .... Merchants' Transfer & Stg. com. Merchants' Transfer & Sts. Bl Mergenthaler Linotype National Mtge. & Inv. Co. pfd. Peoples Drug Stores pid. Real Estate Mtge. & Gua Becurity Storsge Terminal Ref. W) The Carpel Corp. . Washington Mech. M Washington Medica) Bidg Woodward & Lothrop pfd. UNLISTED DEPARTME! Army & Navy Club 5s. 1961 Wasbington Title 1ns. High, Low. 110% 30 UP TO AND Approx. yiela 16 Close. maturity. 83 6.00% 109 102 4 week. Same week '29. | 1675, 33 30% 38% Am ForPwr war 104 Am Gas& El (31 104% Am Gas & El pf (6)..ue. . Am Inv, Inc, B 21 Am Inv, Inc, war 50 Am Laundry Mach (4).. 274 Am Lt & Trac (2%). 29% Am Maize Products (2). 1's Am Maracaibo. . 7% Am Natural Gas.. 25 Am Phoenix Oprp(3). 27% Am Potash & Chem (1).. 90 Am Pub Ut prpf (7).... 102% Am Pub Ut pt pf (7) 17% AmStP S A (1.60) 20% Am Superpower (1 94% Am Superpwr 1st pf 87% Am Superpo pf (6). 3 Am Thread pf (25¢) 14 Am Transformer (1.40). 7% Am Ut&Gen B vte (40¢c). 1% Amer Yvette Co. Inc. ... 6 Anchor Post F (b10%).. 15% Anglo-Chilean Nit 812 Appalachian Gas 8% Ark Nat Ga. 8% Ark Nat Gas A 7% Ark N G em pf (60¢) Arkansas Pwr&Lt pf(1) lnsm # Asso Dyeing & Ptg. # 5% Asso Elec Ind (30c 1% Asso Gas & Electric. % 0 % Atlantic Fruit & Sug.... 1 Atlantic LobosOll pf. 13% Atlantic Sec Cord. 15 Atlas Plywood (2). 814 Atlas Utilities Corp. 3 Atlas Utilities(war) 6 Austin Mot Co Ltd. 3 AutoMu Ins A(11.10) 4 Auto Vot Machine.... 915 Auto Vot'g Ma ev prpt.. 24% Aviation Corp Am. 12t Aviation Credit. 7% Aviation Securities. 6 Aviation Sec,New Eng 122 Babcox & Wilcox (19) 214 3ahia Corp. s 45'% Bancomit Corp (1.60). 38% Bastian Blessing (3).... 146 Bell Tel of Can (8) . 28 Bickford In~ pt (2%)... 18 Bliss Co (E W) (1). 6% Blue Ridge Corp (40c).. 33% Blue Ridge cv pf ( . 1 Blyn Shoes, Inc. 11% Bower Roll Bear (1) 35% Brazil Trac & Lt(h2). 2% Bridgeport Mach (25¢: 7% Brillo Mfg (30c) 213 Brillo Mg A (2) 251 Br Am Tob cB 79 24% Brit A 7 reg (11.20).... 20 Brown F & W(A)cv 2.40 54% Buckeye Pipe Line (4).. 24 Buffalo, N&EP pf(1.60) 65 Bunker HIll& S (16%). 7 Bureo, Inc... 1% Bureo, Inc, war 39 Burco, Incov of (3).... 21 Burma Corp. rets (t31c) 8% Butler Brothers (30¢)... 1% Buzza Clark Inc. . 3 Bwana M Kubw Cop. 2% Cable Radio Tub vte 14 Cabl & W Ltd. B rets. 31 Canadian Marcont. % Carib Syndicate. 18 Carman&Co A (2). 14% Carman & Co B (a1%) 30 Carrier Engn-vA (1)... 60 Celanese lstpf (7%).. 13% 48 41 151% 1 26% Cent Pub8(A) (a1.76).. 19 Cent States El(kd0c)... ] 101 Cent States Elec cvpf(aé 120 72 Cent States El pf(6)xw. 73% 4% Centrifugal Pipe (60¢c). 2145 Chain Stor Development 224 Charis Corp (13).. 17% Chat Ph Al nv (50¢). 17% Chemical Natl Asso 24% Citles Service(g30c) 88 Cities Service pf 501 Clev Eleo Illum (1.60) 13% Cleveland Tractor 1.60.. 3 Club Alum Uten pf n 9 Cohn&Rosenbergerl ne 22% Colts Pat F Arm (2).... 8 Columbia Ol & Gas vte. 33% Colum Pict vte (f1%)... 24 Columbia Pict (f1%). 234 Com'with Edison (8) 3% Comwlth & Sou (war' 11% Comm Wat Serv b6 % % Comstock Tunnel. Consolidated Alrcra % Consol Auto Mer ctf; 15 90% Con Gas of Balto (3.60). 114% 21% Consol Gas Util A(2.20). 23 10 Cons Laundri 13 7 Con Retail Strs (1). 14% Contl Chicago Corp. 101% Contl Gas & El pr pf (7). wnsu. 71 Contl Shares pf (6)..... 28 Cooper Bessemer (2). 38 Cooper Bess pfA(3). 5 Copeland Prod Inc A.... 6 Cord Corp 19% Corp Secur of Chi (b6%) 9% Corroon & Reynold: 32 Cosden Ofl. 60 Cosden Ol pf 10 Courtaulds, Ltd ( 5% Creole Petroleum % Cresson Cons 15 Crocker Whee! 31% Crsse&B pf(3%) % Crown Cen Petrol. .. 915 Crown Cork Intl A ((1). 30 Crown Cork&S pf(2.70). # Cuban Cane pr opt war.. 30% Cumbeland P L(t18). 34 Cuneo Press (2%) CurtissAirpris v t % Cus! Mex Mining. 12 Darby Petrolm new (2), 2% Dayton Airplane & En 75 Deere & Co (m1.20) 214 De Forest Radi Delsel W Gilbert Derby Oil & Refin pf 4 Detrolt Alrcraft Cor 14 Dinkler Hotels (2 3% Dix Gas & Utiliti 162t Dixon (J) Crucible (8).. 15241 8% Doehler Die Casting. ... 12% Douglas Alrcraft (75¢). 60 Draper Corporation(t5) Dres (8 R) Mfg.A (3%). , 45 31% Dresser (SR) B (2).... 4 41 Driver Harris (new). Dubilier C & Radlo. ..., T S 30 5% Duval Tex. Sul. w.i. 25% East G & Fuel Asso. 18% Rast Sts Pow B (1), 12 Eastern Util Asso c: 7% Eastern Util Inv (A 7% Eisler Electrie (13 70% Elec Bond & Share ( 92% Klec Bond&Sh cu pt lfl:u E) Bond & Sh pf (6) 1 16% Elec Pow Asso A (1).... 24 I T Ao 2 Frges wFss POVl i+t +++0 00000000000 000000 5 § =Resre I++0 01 ey e FEFELIF +|++I+|I+ll‘4\||t #¥ 2 Flesxrzrsss [ T+ 11+ k0 1010 £ sx2 = ¢ # #xedPefecds Jae 1 ++ LU ) - EEEFIERE [REREZRARENEE 22 l(\li‘ 1 SEE & SFESE ¥ < FERA RN g2 seee”FE S8 - i R U Ragss [N R N e F§ Pl + © EPEFF FEFFE Ttk T++1 01 20% Gas Lt & C Corets. General Alloys(80¢c). General Baking. . - General Baking pf (3).. General Cable war. .. Gen E Ltd rets(50c) . Gen Fireproof (123) Gen Gas&El ev pf B ( Gen Pub Sve (b6) Gen W W & El A(2). GeorglaPowerpf () . Gleaner Harv, new (2) 284 307 6 i Gold Coin (new). Golden Center. . +# Goldfield Ccnsolidat Goldman Sachs T C. Gold Seal Elec new Gorham, Inc. (A) Graymur Corp. .. Grt A&P Tean v(5). Grt A&P Tea of (7) Grief & Bro pf (1) Griffith (D W) A Groc Store Prod Guardian Invest. Guenther Law (2). Gulf Ollof Pa (1%). Hambleton Corp. .. Handley Page pf (vls:). Happiness Candy 4 Harblshaw Cable Hartford Elec Lt (2%) Hazeltine Corp (2) Hecla Mining (1) Helena Rubinstein. HeydenChmCorp (2 Hudson Bay Min & 8., Humble (2).. Hydro El See.(2) Hygrade Food Prod % Imp Chem Ind (25¢). Imp Ol of Can, n (50¢) Imp Ofl Can reg (50¢). ImpTobGtB&I(1.25) . Indian Pipe L n (12% Ind Terr 111u Ofl (A). Insull Util Inv (+b967) . Ins Co of No Amer (13). Insurance Sec (1.40).... Intercont Pete new. Intl Petroleum (1). Int'l Safe Raz B(12%) .. Internatl Superior (f1), Int Utilities A (3%).... 4 Internat] Utilities (B) . Int] Util war (new) Interstate Equiti Interst Ea cv pf (3). Iron Cap Copps Irving Air Chu Italian Superpowr A. Ital Superpower war. Johnson Motor Co. % Jonas & Naumburg Kan Gas&FElec pf (7). Kirby Petroleum. Klein (D E) Co (1). Klein (H) pt pf (j1. Klelnert Co (234) Knott Corp (a2.40 Kolster-Br(Am shs). Lackawana See 4) Lauckawanna of N J (4). % Lefcourt Realty (+1.85), LefcourtRlIty pf(3) Leonard O1l.... Lerner Stores (2) Long Island Lt (55¢) Loulsiana Lan & Ex. MacMarr Stores (1). MagdalenaSvndicate Mangel Stores. .. 4 MangelStores pf (614). Marconi Int Mar (38¢c) % Marton Stm Shovel. . % Memphis Mass Util Asso. Man Dearborn C, Mavis Bottling. . Mayflower Asso (12)... Mead-Johnson (13.75).. t GanCo. ... Mercantile Stores (5).. Mer Chap & 8(1.60) Mesabi Iron Mesta Machine (11.80) Met & Min Tne(1.20). Met Chain Store Mid Sts Pet v.t.c. A Midland Utd pf A(3 Mid West Sts Util (1 4 Mid West Utll (b8% ) Middle Wst Ut of xw(; Midland N Gas (A) 4 MidvaleCo (4)..... Miller & Sons (2). Mo Kan Pipe L. 'bIO‘L). Miss KPLv.te.. Miss River Fuel bd rt Miss River Pwr pf. Mock Jud Voehr (1).... Moh Hud P 1st pf(7)... Moh Hud P 2d pf(7).... Monga WPP pf (1%) 8% Monroe Chemical (1), Moody's 18 pt pf (3)... Mountain Prod(1.60).. Municipal Service Nachman Spring (2). National Aviaiion. Natl Bond&Share (25¢! 1 Food Products (A). Nat Fuel Ga Natl Investors At Pub Serv (A) 11 $0) Nat Rub Mach (2). 4 Nat Screen Service (2) Nat Sh Tm Sec(£50¢c) Nat Sugar NJ (2). Natl Transit (1). 4 Nat Union Radio. .. 4 Nauhelm Pharmaci Nebel (Ose.) (62 % Neet Inccv A (1.60). Nehi Corp (1.30). Nelson (Herman) da-Calif Electr] 4 Newberry(JJ) (1.10) ). New Eng Pow pf 4 New Jersey Zinc u»% A 18 8 117% 113% 21% 10% New Mex&Ariz Lan. . Newmont Mining [t 730 Newport Co (2).. N. Y. Transit (11.80) Niag.-H. Power (40c) Niag.-H. Pwr A war. Niag Hud Pwr (B) war, &.-Hud Pwr C war. Nipissing (30e). . Noranda Mines (2). Nor Am Aviation A war. North Am Cement. Nor European Oil Corp. . North & Sou AmCor p A. Northn Pipe Line(15)... North Stat Pwr A(8)... 152% Nor States Pwr pf (6).. 99% North 8 Pow pf (1)..... 107% 99 106 G FEER I +1 (FEEER ++ | BHSPA ARSARERE S (FEL M) i+ 1+ +I1 998, 107% i\++IIIII+++ ++ PUE I+ 4+ \||I ‘+ll\i+i + 01410 10 Polymet Mfg (31). Power Securities pf. Premier Gold (24c). Prudence Co pf (7) Prudential Inv. ... Public Util Hold w w. Pub Util Hold Corp wa 4 Puget Sd P&L pt (6) Pure Oil pt (6) 4 Pyrene Mfg (80¢ Quaker Oats pf (6). Radio Products (2). Railroad Sh Corp(25¢) Rainbow Lum ProdA Rainbow Lum Prod Reiter-Foster. ... Reliable Strs (b5% ) Rellance Intl (A). Reliance Int Corp(B). Reliance Management. Reybarn Co. Reynolds Invest. Rich Oil of Cal pf(1. 15) . Richman Bros (3). Rike Kumler (2.20)..... Roan Antelope Mine % R'kland Lt & P (90¢). Rolls Royce. Am pf. Roosevelt Field. Inc Rossia Intl Corp. Royalty Corp pf Ryan Consolidated Ryerson (Jos) (2) St Regis Paper (1). Salt Creek Cons(40¢). Salt Creek Prod (2). Saxet Co. . Schift (The) Co (2).. Schulte Un be tos$1 8 Seaboard Utilities (50c), Secur Corp Gen(40c). Segal L & Hwde(60c)... Seiberling Rubber. Selected Ind. ( Sel In 75%prior (5% Sentry Saftey Control Shattuck Den Min Shenandoah Corp. Shenandoah Corp pf(a3) Sherwin Willms (t43). Shreveport Elec (D) Silica Gel et. .. 2rs T2 Solar Refining. South Penn Oil(t2% So Cal Edis pf (B) ( Sou Calif Ed pf(C) ( So Colorado PwA (2 Southern Corp. . Southland Roy (1) So West Gas Util. Y2 z Southw P & L p£(7).... Spanish & Gen rets. Spanish &General (B).. Standard Holding Corp. Stand Motors. . Stand Oil of Ind (2%3) Stand Oil of Ky (11.80) Stand Oil of Neb (13%). Stand Oil Ohlo(2%).... Stand Oil Ohlo pf(7)... 16 47% 30% 445 7 122 115% . 12% Sou West Bell Tel pf(7). 121 12 116% 1 16% 507 32 4T% 119 4 36 45 1R 13 11 l++1+1 17% 25 30 Ft 4 I 52 52 11 9 9 @ 37 g A 5% 2 BePernuseresrsfa +111+ 00 10 ) ¥ Yss B FEF 137 +1 2 +1 1+ “rex® 1% 1% 1% Es-aisideng cash or stock. w T84 119 O o T S Lines pf (1) 13% U S & Overseas war 5% U S Shares Fin. 6% U S Stores 3% Unit Stores. Unit Verde Ext (2) Unite Wall Paper % Unity Gold. . . 114 Utah Apex (50c). 14% Utility Pw & Lt(al).... Util P&L (B) ctfs(al). 12% Utility & Ind. 20% Util & Ind pf (1% 10% Utility Equit! 76% Vacuum Oil (4) Van Camp Pack Venezuela Petroleum 6% Vic Finan Corp(40c).... 1% Walker Iflninl (7%:). . 1% Watson (JW) Co. 81 Wayne anu. Pa, b Payable vidend rates {p dollars based on lsst quarterly er semie Tri-contin’l Corp war. Tri Utilities (31.20).... Tri Utilitles pf (3). Trunz Pork Stores(1.80. Tung Sol Lamp (1)..... 6% Tubsize Chatel (B). 11% TwinStNG Aptl) Ulen & Co (1.60). .. 21% Ungerlelder Fin Corp... Un NG of Can (11.60).. % UnionTobacco. .. United Chem pf (3) 12% Unit Corp war... Unit Dry Dock. 15% Unit Elec Ser. 15% Unit Found (b Jnited Gas new United Gas war. 91% United Gas pf (7 27% Utd Light & Pwr 97% Utd Light & Pwr of ). 60 Unit Shoe Mach(t3%... U S Dairy. A (5). 18% U S Dairy B.. 11% U S Elec Pwr ww. 10% U S Finishing 36'% U S Gypsum ( 2% U S & Internt] Sec. 43 109% 65% 65 41 R il IRERRE 71% Wheeling Steel. . 2% White Eagle Oll deb rts 12% Willlams, RC (1.40)... Woodley Petrol % Worth, Inc. A % “Y" Oll & Gas. 10% Zonite Products (1). RIGHTS—EXPIRE. 2% Ins Co of NA. % International Nickel. ... 7 + Mo Kan P L. 1 H % Segal Lock I — extza in stock s Payable 1 o Siotk. "G DaSabie sb' breferfea siock. BY PRESTON S. KRECKER. Special Dispateh to The Star. WALL STREET, N. Y., August 8.— Despite heavy decreases in net operat- ing income reported by railroads for the disposition of railway executives to maintain dividends this year even if not earned. That news doubtless will be 1% | welcome to investors in railroad shares 1% | who have been perusing reports show- U ln‘ mxlnxue in profits month after % % Thn (u]lnz in railroad circles is that business is more likely to improve than 3 to grow worse next year, even if such % | improvement does not set in during 14| the last four or flve months of the 1% | present year. It is felt that the roads % | are financially in a stronger position l'i‘ than in many years and therefore are better able than before to draw upon ‘- surplus to maintain dividends. i Position of Carriers. 21| The present depression in business is 14 | popularly compared with conditions ex- 7| isting about a decade ago. It is true 215 | that s parallel can be drawn between the two periods. On the other hand the parallel 15 ot complete, at least 5o far % | as the railroads are concerned. They 1% | emerged from Government control after | % | the war with physical properties seri- 4 |ously run down, heavily burdened with 1% | short-term _debts, with millions bor- % | rowed on ordinary bank loans and with | other millions of audited short-term notes outstanding and unpaid even in the case of the largest systems. In those years the railroads were so redticed. finncially that they had lost their credit standing and were un- able to float any refunding issues. As an outcome they had to borrow from the Government through a revolving fund, their total indebtedness piling up to nearly $500,000.000. That enor- mous sum has been paid off with the exception of about $60,000,000. Mean- while the railroads have liquidated their bank loans and are meeting their bills promptly. Most of the well man- to meet dividend obligations where the latter are not fully covered by earnings. It is well known that a good many roads, more particularly those which have only in recent years paid high | D¢ dividends, will fall far short of covering their requirements this year. | income of the majoriy of the railroad companies, for the reason that monthly reports to the Interstate Commerce Commission as a rule cover only operat- ing revenue. They omit mention of D “other income” in all but a few cases. 1% | However, openun: revenue has dropped 1% 80 ly that even if allowance is % | made !of usual ‘“other income,” divi- % | dends of many road. will not be fully % | covered unless business improves tre- 3% | mendously in the second half of the % | year. 1% Analysis of Returns. % -1 Analysis of railroad returns reveals the fact that roads operating in the South have been hardest hit by the eco- % {nomic depression. Their average ¢:- 1| crease in net operating revenues for the first six months was 37.3 per cent. 'a- Western roads were a little better off, =% with an average cdrop of 34.3 per cent, 1% while Eastern com les fared best, 1% with an average decline of 27.8 per cent. 1 Comparisons with last year are some- first half of the Vear, it is the present | aged systems have enough surplus cash |Boston . adelp! It is not | B¢ possible to ascertain just what is the|p, &rRAILWAY EXECUTIVES PLAN STEADY DIVIDEND PAYMENTS Slump in Revenues Is Not Believed Likely to Affect Regular Disbursements of Chief Carriers. | what distorted because of the fact that the railroads credited back mail pay | amount of more than $31,000,000. About | two-thirds was credited during the first half and the balance during the second | half of the year. ‘When it comes to traffic improvement in the second half of the present year, indications are that the Western roads will draw the largest gains, because the Autumn is normally their best season, owing to crop movement. Both Western and Eastern roads will benefit by rate decisions recently handed down which promise to in- crease revenues by more than $60,000,- 000, of which the bulk will accrue to Eastern lines. The benefit of those advances will not be felt really until next year, as increases are not going into effect until late in 1930. (Copyright, 1930.) WEEKLY BANK CLEARINGS. Bank clearings for the first week of August at leading cities in the United States, as reported to Dun’s Review, of $9,688,200,000 are 25 per cent. below those of the corresponding week of last year. At New York the figures this week are $6,636,000,000 and show a loss { 28 per cent, while for the cities outside of New York the total of $3,- 052,290,000 is 17.4 per cent smaller. Bank clearings last year were exception- ally high for several months through- out the Summer and Fall. Two years ago conditions were more nearly normal and the report this week shows a gain over the figures for that period. There is an increase at New York.and at a number of the leading outside centers, among them Chicago, Boston, Philadel- phia and Cleveland. The total this week for the leading centers outside of New York is higher than that for the same week in August, 1928. Clelnnu for the week, as reported to G. Dunn & Co., and average daily blmk clearances for the last three months are compared herewith: Per e Dec. Dec. Dec. Dec. Dec. Baltimore . Pittsburgh Tl ¥ m Minneapoiis . Richmond . Atlanta . Louisville New Orlea s Sin Pr nicisco . Stn, Fraticisco s tal . New York Total all STOCKHOLDERS GAIN. ‘That the number of holders of Pa- | cific Gas & Electric Co.'s stock has increased more than 26.2 per cent since the stock market break of last October and November is shown by figures mad public vesterday by President A, F. Hockenbeamer. The percentage of in- crease in the number of common stock- holders is even greater than in the preferred, the percentage of increase in holders of common & sis period being § ¥F SOV | 'bank to finance a feeding DROUGHT MAKES LOAN PAYMENTS DIFFICULT Reduced Farm Incomes Will Force Banks to Extend Time for Customers. Special Dispatch to The Star. KANSAS CITY, Mo, August 9.— Overshadowing every other factor in the business situation of the Middle West is the serious effect of the long- continued drought, with high tempera- tures, surpassing in its damage any similar condition In a score of years. Coming on top of the low price level for grain and farmstead by-products, it has brought a problem not alone to the producer, but to his creditors. Baking skies since the 1st of July, with only local showers, have caused a loss to armers through their live stock opera- dons that, while less spectacular than the wheat situation, has been in many ways more serious. The cattleman has borrowed from his process. He has lost not only his original invest- ment, but also added sums through the losses involved in the low market of the Spring and Summer, The have been affected much as in the de- flation period of 1921, though not in 80 great a percentage. Their effort to carry their customers of this class places on them a burden which will entail a long experience and in many instances embarrass the smaller insti- tutions that have been heavily in- volved in this class of loans. ‘While early Autumn rains will help the rough feed condition, the corn shortage and the consequent higher price will make it difficult for the aver- nge farmer to engage in what has been Winter occupation _all '-hrl)llxh ln‘ll Missouri, Eastern Nebraska a: Eastern Kansas. Banks are in no po- sition to aid in financing this activity, at least until there is more selling of Wwheat. It ie believed by the wheat farmers that the wheat price will im- prove, because of the corn situation. Many are already using wheat for feed, as it is cheaper than corn. e R e Sun glasses fitted with canvas nose shields are being worn by bathers at fashionable Prench resorts to prevent ;r:lifie\ and to stop the nose from el First Mortgage Money g or 6% BUILDING LOANS or IMPROVED PROPERTY Reasonable Rates Prompt Action B. F. SAUL CO. 928 15th St. Nat'l 2100 28.7 per cent.