Evening Star Newspaper, August 11, 1930, Page 13

THE EVENING STAR, WASHINGTON, D. C, MO DAY, AUGUST 11, 1930.' i ~ CURBISSUES MOVE || NEW YORK CURB MARKET &t mreeaoe | |SUPPLIES OF FOOD | [ otarkets at o tame ] eomSonni 2 i “Stocks Direct to The Star Office After declining about a dollar & bale + ', INNARROW RANGE Heavy Offerings Tend to De- press Prices, but List Steadies. BY JOHN A. CRONE. @pecial Dispatch to The Star. NEW YORK, August 11—Opening | frregularly, today’s Curb Exchange ses- sion picked up speed on increased offerings as prices moved lower. The market showed signs of recovery at mid- day, but slipped again as call money advanced on the curb post from a renewal rate of 2', per cent to 3 per cent. Electric Bond & Share got down more than 2 points before meeting support American & Foreign Power fell a point and Ametican Superpower was off frac- tionally. Cities Service eased a half point and Standard Ol of Indiana was down a small fraction. Ford Motors, Lia, turned active and highs Professionals combed the list that might be affected by the drought. | They first searched the utilities, where hammering on *Pennsylvania Water & Power Co. produced a decline of 4 points 1 a new low mark of 70. Hydro- electric Securities likewise fell into new | Jow ground. | Cleveland Tractor next gave way {rac- tionally, but enough to establish a new minimum quotation for the year. Here the selling was stemmed when the street got the impression that all farm implement companies did not intend to follow the price reductions announced by International Harvester, which move was regarded as an individual rather shan a trade trend. Meanwhile some of the higher-priced industrials sagged. Great Atlantic & Pacific Tea opened off 4 points and then fell 35 more. Aluminum Co. oi America rapidly lost 10%s points. This movement was joined by similarly classed utilities as American Gas' & Electric dropped 5 points. Specialtie; moved irregularly. Driver- Harris sliced off 21 as Rubberoid added 3 points. Aviation Credit featured the air shares by moving to a new altitude. Niles-Bement Pond and Detroit Aircraft advanced as Douglas Aircraft declined. ‘The curb admitted several securities to listing today. Newport Co. rights, which are being granted to shareholders of record August 25 in the ratio of one new share at $20 a share for each 40 shares then held, were admitted. The Tilinois Pacific Coast Co., or such name s may be devised in the reorganization of the Illinois-Pacific Glass Corporation, had its common and preferred listed. MARYLAND TOBACCO PRICES. BALTIMORE, August 11 (Special).— ©n account of the hot and dry weather, receipts fell off to 1,443 hogsheads, with sales totaling 1.281 hogsheads, leaving & stock in State tobacco warehouses of 5,683 hogsheads. Prices held firm for all grades, two fancy hogsheads selling at 48} cents. Quotations today for Maryland leaf tobacco per 100 pounds: Inferior. 6.00a 8.00; sound common, 8.00a14.00; good common, 15.00a24.00; medium, 25.00a 34.00; good to fine red, 35.00a47.00; fancy, 47.50a48.00. Seconds—Common to good common, 6.00a7.00; medium, 16.00025.00; good to fine, 26.00a36.50; leaves, nominal; upper country ley, nominal. BONDS ON THE CURB MARKET. 'DOMESTIC BONDS. High. Low. Close. 97% 88 99% 100 9. 83 % 99% 99% 107 10 987, Gas & Ei 5s '68 83 1 Util 5%as 44 C 1} Tel Cas 5 gt he'P & L 35 58 108% 1 e - 55 38 101 i 16 % 102 5va8 54 612 16 L 3128 ‘53 8 > 9% 102% 1022 7 » 999299920091 Eégggéfidgg 5 Ko Shus 037 158 Y PKg Sias G Gas 8 B 50 t Int Brds 6%as 52 52's t Inter Brds 75 '52. 28 55 03 ww 102 1001 1023 e OAR-31as k2. 851 83iL 85l G2, 973 9T 97 N YR99! G 5 B 973 ! 090 EE! s 47, .. 103 * 1 Bt Util 55 A '36 98 ous tas ‘43 ww 951s R0 e 00 B R O i B . 98 981 0. 1015 1015 7 997 997 7 802 81 9 90 90 G20 41 1001 100 100 s 12 1007 1001 Lehigh P 8 6s A 2036 105'; 10515 1051 31 Lioby MeN & 53 43 3625 98 9852 101% 997 8942 81 5s 4 9815 10314 10314 10314 1001 100% 1001% 1015 101 101% 100 100 92 9 "4 9 % 45 Penn OEd St B 50103 101% 102 Penn O Ed 6s '50 xw 103 103 ' 1 Benn P &' L 55 B Y 108% aoni v B - SRR War 1ts 61 % NN 2 Shaw'g 55 C 0. Bhawsheen 7s '31 10! Sheflield Stl 525 48 102 E P&L 65 A 2095 xw 107% R ea, 106% 10378 95 34 103% 1017 102 9% 9515 91 & P 5 n_Gulf 5s 50, 18 Utah P & L 4145 44, 952 3 Vaispar 6s '40... ... 91 Van Sweringen 65 Virgin Ry 4las ‘abash 55 D vash W & es Penn Tex G ; 3 Sabrueck °7a '3 i 'pa Note—All stocks are sold in one hundred- exceptiing those designated by the letter s (80s) -share lots (250s) which shows these stocks to be sold in odd lots only. 20 85% 24 1% 87 103% 100 104 Stock and 1% Aeronautic Ind war, 16% Afliliated Prod Inc.., 81 Agfa Anscopf...... b 11% Air Inv, Inc, ev pf. 102% Ala Great Sou (17) 1% Alexander Indust. % Allled Aviation..... 210 Aluminum Co of Am 85% Am Cit PRL(A)(a3) 12% Am C P&L(B)(10%) 21% Am Com I'(A) b10% . 34 Am Cwlith P(B)10% 17% Am Cynam B (1.60). 12% Am Equites. .. 383 Am For Pwr(war). Am Gas & Elee (11). 7% Am Invest. Ino (B)., 527 Am Lt & Trac (2%) 1% Am Maricabo. . 20% Am Superpwr (1)... 7% Am U&Gen B vtc 400 81 Appalachian Ga: % Ariz Globe Copper. €3, Arkansas Nat Gas. £14 Ark Nat Gas (A). 341 Asso Gas & Elec. 30 AsSo GEE A (a12.40) 4% Asso GRE (A)dbris 2 Asso Gas&El ctfs(8) 200s 2% AsS0O RAYOD........ 38% Asso Rayon pf (6).. 1 Atlantic Lobos Oil pf 15 Atlas Plywood (2).. 3 Atlas Utilities(war % Atlas Util Corp...... 3 Auto Mu Ins A(t1.10 915 Auto Vot Ma cv pf pt 124 Aviation Credit..... 214 Bahia Corp. .. - 6% Blue Ridge Cp (40e). 33% Blue Ridge cv pf(a3) 85 Brazil Trac & Lt(h2) 2% Bridgept Mach (25¢) 241 Buft.N&EP pf(1.60). 24 Burma Corp (131¢).. 1% Buzza Clark. Inc 3 Bwana M Kub 4 Canada Marconi.... Cent P S (A) (al.76) Cent States El(k40c) 4 Chain Stores Dev.... 24 Charis Corp (13).... 17% Chat Ph Al av (50¢). 177% Chem Nat Asso n-v. 241 Cities Service(g30c). 88 Citles Srve pf (6)... 434 City Sav B, Ltd(2.79) 13% Clev Tractor (1.60)., ot ® 19 3 S SR TEE-D P PTST- PRSI S = pay e F TS 1 Consol Auto Merch.. 3% Consol Copper...... Cons G, Bal pf A(5). 7% Con Gas Util.B v.t.e.. 10 Consol Laundries... 28 Cooper Bessemer(2) 10 Copper Range (1)... 6 Cord Corp = 19% Corp Sec. Chi (b6%). 9% Corroon & Reynolds. 67 Cor & Rey pf (A)(6) 6% Creole Petroleum. ... % Cresson Consol (8¢) 15 Crocker Wheeler. ... 84 Cuneo Press (214)... 5% Curtiss Flying Sve. . 114 Curtiss Wright war. 3 Cusi Mex Mining.... 65% Deere & Co.... B H Sales— Dividend Rate. Add 00. Open. High. Low. 105! ™ 1% 1% 18% 18% 82 82 12 104 1% 237 40 14% 21% 43% 20 15 1% 18% 82 12 % 105% 1% —Prev. High. 8 D “ 100% Natl Pwr&Lt pf 1930~ Low. 1 Mavis Bottling. 10% Memphis Nat Gas. 80 Mer Cha&S pf A 634 25% Mesta Mach (11.80).. 8% Met & Min, Ine(1.20) 36 Met T Cor ptpf t3%. 2% Mid Sts Pet v.t.e. B.. 24 Mid,WStsUt (1%).. 26% Mid Wst Util(b8% ). 3% Mid Wst Util B war. Mo Kan PL (b10%). Moody’s I 8 pt pf (3) Mount Prod(1.60)... Nachman Spring. ... Natl Baking Co. 7% Natl Fam Stra(1. 25w Natl Fuel Gas (1 11 Natl Investors Stock and Dividend Rate, EEE L LT TP TS 3 atl Mfgs & St F=3a 13 Natl Rub Mach (2).. 15% Natl Screen 8Bve(2).. 12 Sh Tm See(£50c) 15, Natl Transit (1).... 314 Natl Union Radlo. ... 55% Mead Johnson 13.15.. 13 Neet, Inc. cv A(1.60). 2% New Brad Ofl (50¢).. 64 N J Zino (+234)....00 79 Newmont Min (f4).. 20% Newport Co (2)..... 10% N Y Pet Royalty.... 113% N Y Tel pf (6%).... 10% N. Y. Transit (11.80) 15% Niag.-H. Power (40c) 4 Niag.-H. Pwr A war. 6 Niag.-Hud Pwr C war 12 Niag Shars Md(40¢). 25 Niles-Bem-P (1234) 1 Nipissing (30¢) 1 MissKPL v.ty 20% Noranda Mines (2).. 2 No Am Aviat,A war.. 921% Nor Am Ut 18t pf(6). 14 Nor&Sou Am Corp A. 21 Noth Euro Ofl Corp. . 951 North St Pwr pf(6)., 22% Novadel Agene 2% . 4 Ohio Copper. 624 Ohio OI1 (t4%) 31% Ohio Ofl new w. 7 Outbd Mot(A) (1. Pac G&E 1st pf (1%) 237 Pac Pub Sve (1.30).. % Pandem Ofl....o.ee. Param’t Cab(b8%).. 31 Parke Davis (11.55).. 17 Penn Mexic Fuel (1), 10% Pennzoad Corp (20e); 72's Pa Water&Pwr(3) 2% Petrol COrp War....: 415 Pilot Radio Tube(A) 205 Plymouth Oil (2)..w 815 Polymet Mfg (31). 88 Power Securities pf.. % Premier Gold (24¢).. 8% Prince & White(25¢) 12% Prudential Invest. 15 Pub Util Hold w w. 63 Rallway & Lt S(15).100s 5% Rallroad Sh Cp(25¢). 1 6 Rainbow Lu Prod A. 2% Rainbow Lu Prod B.. 9% Rellance Manag..... 125 Reliable Strs(b5%). 26% Rike Kumbler (2.20’ 19% Roan Antelope Min. 39% Rubberold Co (4) 3% Ryan Consolida: 18% St Regis Paper (1) 106 St Regls Pap pf (7).. 814 Salt Creek Prod (2).. 14% Saxet Couuuvensse 2% Schulte Un 6e-31 St. 5% Seaboard Util (50e). 5 Seg Lock & H (50¢).. o e 2 " S S DR MRS HE O~ A O R NN BB s 4 - EET T Ty - o S 12% 6% 2% W 215 De Forest Radio 41 Derby Oll Refining. . 4 Detrolt Alrcraft. 125% Douglas Alr (76¢ 41 Driver Harris(new). 84 Duquesne Gas Cp w.d 2% Durant Motors...... 7% Elsler Eelectric(1%) 921 El Bond&Sha cu pf(5 117% 70% EI Bond & Sh (b6).. 109% 103% Kl Bond & Sh pf (6).. 3914 Elec Pwr Asso (1) 16% Elec Pwr Ass0 A ( 28% Elen Pwr & L op war 15% Elec Shareholdg(21) 82 Elec Sharehold pf(a 304 EBS. IncAn-vi2).. 7 Empire Corporation. 39 Emp Pwr pt (14.04).. 17 Emp P Ser A (a1.80). 3% Euro Elecdebrts. .. 1% Evans Wallow Lead. 2 Fabrics Fintoshing. 1% Fagol Motor...... % Fairchild Aviation 16% Federal Screw (3) 15 Flintkote (A) (1%). 13% Fokker Alrcraft.... 12 Foote B G&M (b8%) 28 Ford Mot Can A +1% 6% Ford Mot France 28c 10% Ford Mor.Ltd 37%c. 21 Fox Theater Cl (A). 28 General Baking..... 27 ‘Gen Baking pf (3) _10% Gen E. Ltd rets(50c) 19 Gen Empire Corp (1) 80 Gen Pub Sve pf (6) 9 Glob~ Underwriters. 2% Gold Coin (new). 15% Goldman Sach T 1% Gold Seal Elec new.. 81, 2 2 " o, & o S o n 10 D3OS 60 0000 31 1000 110 0 D 00 08 1 ek ek 06 10 1D O ek ek 0002 63 RO Y O 1 09 1 1 D TR o 20 1 10 1080 1k 00 e 1 ek GrA&PTno-v(5).. Guard Fire Asso(2). 29% 23% Guenther Law (2)... 166% 1174 Gulf Ol of Pa(1%). 7 5 Hollinger Gold (60c) 27% 13 Houston Oil of Texas 14% 7 Hudson Bay M&S.. 78 Humble Ol 12). 34% Hydro Elec Sec ( 18% Imp OIL Can, n(50¢). 26% Ind Terr {llu Oil (A) 17 Ind Mn ctfs(b10%). 60 Indus Fincv pf (7). 225 53% Insull Utll Inv tb9% 63 InsCo. No Am (13).. 15% Insurance Sec(1.40). 11% Intercoast Trade (1) % Intercontinent Petn. 20% Intercont Pow A (2). 17% Intl Petroleum (1). . 10 Int'l Sate/Raz B(12% 80% InternatlSuperi (£1) 6% Internat) Utll (B)... 36 Interst Eqcv pf(3).. 88 Interstate Pwr pf(7) 8% Italian Superpwr A.. 20 Johnson Motor.....s 1% Kolster-Br (Am Sh). - Yoo T T L s e e e Fene 55% 341 Lone Star Gas.n (1), 112% 107% Long Isld Lt pt (7).. 10 % 1% Magdalena Synd.... 1 ~ 3% T 117% 120 s 8% 3% % 814 8 3 15% 35 14 90 18 13 164 5% 17% T% 86 33% 20 31% 18 61% 5814 68 15% 1% % 19% 184 10% 344 124 80 60 9 37 2 52 87% 2 8% 14% 3 % " % e vidend rates as 37 1% Hhielo % BPlus 2 5% In st 7 tock. 5'% Seiberling Rubber. 5% Selected Industri. Sel Indust ctfs (¢ 2% Sentry Safety Cont. 5 Shattuck Den Min. ndoah Corp. . .. Shenan Corv of (a3). Silica Gel Ctfs. 375 §ing Mfg Ltd. rcts 16% Sisto'Finance Corp. . South Penn O11(+2%) 281 SoCalEd pf A (1%). » Standard Motors. 47% Stand Ofl Ind (3% ). 30% Stand Ol K'Y (11.80) 77 Stand Oil. Ohio(23%). 50s 115% St Ofl, Ohlo of (7). Starrett Corp. . 30 Starrett Corp of (3). 4% Stein Cosmetic 6950 5100 1 58 400 0 n 3 10 ot 0 4 4 0 0 0B A 1 T 2300 B0 09, - 0% 008 30 Swift Internatl(2%4) Swiss-Am E1 pf (6) .. 54% Tampa Electrio (33) 36 Tri Utilities($1.20).. Trunz Pork S (1.60). ‘Tung Sol Lamp (1).. 17% Ulen & Co (1.60). ... 25 Un { Docks. 15% United Eelec Service # Unit EI Sve pr war. . Unit Found (b2: 12 " United Gas Co (new) 5 United Gas (war). 2714 Utd Lt & Pwr A(1).. Unit Lt&Pwr(B) (1) 7% Unit Rt Ch pt (3%). Unit Shoe Mach (3% Unit Verde Ext (2).. 13% U S Dairy (B)... 10% U S Elec Pwr ww. 13% U S & Overseas war.. 114 Utah Apex (50c). 14% Utility Pwr&Lt(al). Ut P&L B ctfs (a1) 124 Utility & Ind.. 10% Utility Equities. 76% Vacuum Ol (4). Venezuela Petrolm, 61 Vic Finan Corp (40¢) 81 Walker (H) (1)..... Welch Grape Ju (12) 1% Wenden Copper..... 6!4 Wil-Low Cafeteria., Woodley Petroleum.. M = -1} CANE R R HONENAS BB e . KIGHTS. # Mo Kan Pipe. % Segal Lock A based. on the Ta o PRIBER o tracing levs n Payable in scri ar Tate. b Pavable in s 1 Plus e 1 Plus 8% tn st CHICAGO LIVE STOCK MARKET | CHICAGO, August 11 () (United States Department of Agriculture).— Hogs, 37,000 head: including 15,000 directs; maket active to steady; heavy- weights 5al0 higher; packing sows strong to 15 higher; top 10.00, bulk, | 170-220 pounds, 9.75a9.95; packing sows, 8.00a8.30; light light, good and| ‘choice, 140-160 pounds, 9.25a9.85; light weight 160-200 pounds, 9.70a10.00; me- | dium weight, 200-250 pounds, 9.50a | 9:95; heavy weight, 250a3.50 pounds, | 8,9029.70; packing sows, medium and | good, 275-500 pounds, 7.35a8.35 slaughter pigs, good and choice, 100- 130 pounds, 8.00a9.35. Cattle, 17,000 head; calves, 1,500: | general trade steady to 25 lower; mostly 25 off on weighty sters; stes to 25 off yearlings; little trade in ‘heavies; best~ yearlings, 11.00; slaughter cattle and vealers, steers good and choice, 600-900 pounds, 9.50a11.00% 900--1,10()l pounds, 9.00a11.00; 1,100-1,300 pounds, 8.50a10.75; 1,300-1,500 pounds, 8.25a 10.50; common d medium, 600-1,300 pounds, 5.7588. heifers, good and choice, 550-850 'pounds, = 8.75a10.75; common and medium, 5.00a9.50; cows, good and ehoice, 5.50a7.75; common and medium, 4.00a5.50; low cutter and cutter, 3.00a4.00; bulls, yearlings ex- cluded, good and choice beef, 6.25a6.75; cutter to medium, 500a7.00; vealers (milk fed) good and choice, 11.00a 13.00; medium, 9.50a11.00; cull and common, 7.00a9.50; stocker and feeder cattle: steers, good and choice, 500- 1,050 pounds, 6.50a7.25; common and medium, 4.75a6.50. Sheep, 15,000 head; market fairly active to about steady; Westerns un- sold; native ewes and heifers, 9.00a9.50; Ty 78 : 1 Santiago Chile 7s 6 4Stinnes 75 36 xw. innes s '46 xw NS! rrants. warrants, bucks largely 8.00a8.25; sheep and feed- er lambs unchanged; slaughter sheep and choice, 8.50a8. PERMANENT CONSTRUCTION By the Associated Press. Creation of a permanent national conference on construction was decided upon at an informal meeting of rep- resentatives of allied trades at Chicago recently, under the chairmanship of Julius H. Barnes, chairman of the Na- tional Business Survey Conferencg. The conference was designed as a vehicle for bringing activities of the various branches of the construction industry and allied trades to focus upon common problems. The meeting reviewed the principal intergroup problems of the construc- tion industry and the possibility of de- veloping a coniinuing organization to assist in the solution of them. It dis- cussed aspects of realty finance, prop- erty appraisal, methods of home financ- ing, credit practices and other ques- tions involved in the greater stabiliza- tion of the industry. CONFERENCE TO AID INDUSTRY At the conclusion it authorised a committee, headed by Mr. Barnes, to make the necessary arrangement for setting up the conference, the purposes of which were defined as to review the outstanding common problems of the business and other interests identified with construction, arrange a program of activities, including factual studies, and formulate recommendations to be. made to the co-operating agencles. President Hoover has invited the United States Chamber of Commerce to designate a representative to serve on the Planning Committee of the National Conference on Home Building and Home Financing. He has also re- quested the chamber to select a - resentative to serve on the special committee to be appointed to devise methods of collecting more accurate employment _statistics. choice, 2.25a4.00; all weights, cull and common, 1.00a2.75; feeding lambs, 60- 75 pounds, good choice, 6.2526.75. GENERATORS FOR SOVIET. NEW YORK, August 11 (#).—Five more hydroelectric generators described as the world’s largest, will be added by the Soviet government to the four ma- chines now under construction at the Schenectady, N. Y., plant of the General Electric Co. One of the machines will be constructed entirely at the Schenec- tady plant and the other four will be manufactured jointly in Schenectady and in Russia, with assembly of the good 7.0028.50; .all weights common, 4.7 7.00; ewes, 90-150 pounds, ’Iedlum to units in Russia. ‘The generators are rated at 77,500 kilovolt amperes each, and compare with those at Niagara Falls rated at Bsoog‘ulovolt am each. They are for the Dnieper River development at Kichkas, near Zaporozhe, in the Ukraine. . STEEL OPERATIONS. NEW YORK, Al 11 (#).—Steel ‘oungstown district this week were p by Dow, Jones & Co. at 561 per cent on rated capacity, against 58% per, cent last week. SILVER QUOTATIONS. NEW YORK, August 11 (#)—Bar sllver, 35%. {rom reports covering principal money Eastern Cities’ Officials Are; Planning to Offset Effects of Drought. Special Dispatch to The Star. NEW YORK, August 11.—Officials of Eastern cities are today mobilizing their resources for surveys and checks on food supplies and prices, to forestall any possibility of profiteering, and to map and possibly extend surrounding milk sheds and produce areas to meet the threat of food shortage left at the thresholds of the great cities by the drought. New York is mot suffering—as yet. Commission men estimate that about five more rainless days will sharply diminish the incoming supply of fruits and vegetables for the 10,000,000 per- sons in_the metropolitan area, and that unless New England and Canada come to the rescue, continued drougnt will bring about a critical food situation in the city. Milk prices in New Jersey and New York have advanced 1 cent a quart, an increase considered reason- able by Health Commissioner Wynne, in view of the shortage of feed. Price Increases. Other commodities "prices are climb- ing, but there have been no serious charges of profiteering. It is estimated here that in New York, Chicago, Boston and Philadelphia price increases al- ready in effect are costing consumers about $3,500,000 a day. New England, especially in the coast L regions, has suffered but little' from the drought, and there would have been a big oversupply of produce on the Bos- ton market had it not been for the long rainless stretch in other sections. For the first time in many years, New Eng- land produce is being shipped to Middle Western and Southern States and sup- plies from far into Maine and New Hampshire are being drawn upon. ‘The 101 milk inspectors of the New York City Health Department will re- port today on a milk study which may result in the metropolis reaching up into Canada to augment, its diminishing milk supply. With the duties imposed by the new Smoot-Hawley tariff bill, this will be costly, but the Dairymen's League Co-Operative Association, th 43,000 members, insists that it is quite possible that nothing short of a heavy Canadian supply can save the situation if the drought continues. Conditions are fairly good in Northern Vermont, but Boston and other large New England cities draw heavily on this supply and there is little hope of an adequate surplus from this region. As the thermometer climbed here early today, it appeared that while the devastating heat wave was broken with the relfef that came Sunday, the cooling showers were but passing flurries which gave little promise of the long, nourish- ing rains that would save crops and water supplies. ‘Water Supply. The magnificent water supply of Greater New York has, so far, served to tide surrounding suburbs cver a seri- ous shortage. Precipitation in the Catskills was heavy last Winter and Spring, which circumstance alone doubtless saved the city from the most serious water famine in its history. In upstate_towns and villages there have been official requests for care in water usage, but for the most part no rigid restrictions. In the New York region, Long Island has suffered the most severely, with Sunday’s hail and wind further punishing the parched and wilted cro] CHECK TOTAL GAINS By the Assoclated Press. Bank checks on individual accounts rose sharply during the week ended August 6 as comyj with the previ- ous period, but the total was materially under that for the corresponding week of last year. The following totals were compiled by the Federal Reserve Board P icopyright, 1930) .$13,122,660,000 .$11,698,882,000 .$18,973,082,000 centers of the count Week ended August 6 Previous week. Same week las DIVIDENDS DECLARED NEW YORK, August 11 (#)— - Pay- Hldrs. of bl Rate.riod. able. ..25c Q Sep. 15 “80c t Mg ... Canada_Vinegars. Curtis Pub p Duff Norten Mfg Gallagher Drug pf B S5 a5 Do. 7% D Kobacker St Dt 31 Ludlow Mfg. Assoc..32:50 Material_Sery Corp..50c Metrop Pav Brick....50c Newport Co 500 Do A 5S¢, North 18] Otter 2,25 Patterson Sargent Public_Investing. Roch G&E 6% PRSI D0O00OODDOOOODD! 1] 530 5 67 0n 1 1 Do Liberties’ Gas T Pow (Del). 0> i R e 0PODOD) Sep. 3150 Q Aug. Atlantic Refining .... Champ Coated Pap. Public' Investing. Brown Fence Neild Mg First Mortgage Loans Lowest Rates of interest and Commission ‘Thomas J. Fisher & Company, Inc. Money on Hand to Loan om First Deed of Trust 69, Interest Reasonable Commission and Prompt Replies to Applications JAMES F. SHEA 643 Louisiana Ave. N.W. How to Be Sure! Always select a thorough- 1y reliable and conservative investment and be assured of the future. Guaranty First Mortgages are just such an investment. We Make First Mortgage Loans! _REALESTATE MORTGAGE & GUARANTY CorPORATION Capital Resources, $3,800,000 24 JACKSON PLACE NEW YORK, August 11 (#)—Stocks irregular; investment rails lead rally. Bonds irregular; high-grade ments steady. Curb irregular; England rallies more than 2 points. Foreign exchanges irregular; sterling advances. Cotton lower; more favora- ble weather and Southern selling. Sugar gasy; increased spot offerings. Coffee higher; steady Brazilian markets. CHICAGO, August 11 (#)—Wheat easy; weakness Liverpool and expected bearish Government report. Corn firm: bull crop advices and expected bullish Government report. Cattle steady to slower. Hogs steady to higher. GRAIN MARKET invest- Ford of CHICAGO, August 11 (/). —Assertions | J from one of the foremost unofficial crop experts of the country that the | ¥ corn crop as a whole is in a deplorable condition and that the yield will be lighter than is generally expected gave the corn market a decided hoist today toward the last. His statements were made after an inspection ‘tour which has taken him over the greater part of the corn belt. Wheat rallied also in the late dealings, influenced by corn strength and by an estimate that the European carry-over of wheat this sea- son is 116,000,000 bushels less than last year. Corn closed firm, 33 to 115 cents a bushel higher than Saturday’s finish. Wheat failed to hold late gains and closed nervous, 17 to 233 cents net lower, with oats !> to 1 cent off and provisions showing 5 to 25 cents sag. WHEAT— Low. September o3 98% 1035 10612 RYE September December March .......0 MONEY MARKET. NEW YORK, August 11 ().—With- drawals by banks for tomorrow’s Fed- eral Reserve Bank settlements caused a firming in the call money market today. Call money renewed at 2 per cent and then was advanced to 215. Activity in the time money market was nominal, with 90-day rates cut by Some dealers from 24 to 23 down to 215 flat. Other rates held steady. There was an _even balance between the sup- ply and demand for bills, and rates ‘were unchanged. A good demand was reported for com- mercial paper. Prime names were quoted at 3 to 3% per cent and others at 3%. METAL MARKET. NEW _YORK, August 11 (#).—Copper quiet; Electrolytic, spot and future, 11.| Iron dull; No. 2 f.o.b. Eastern Pennsyl- vania, 18.00a19.00; Buffalo, 16.00; Alabama, 11.50a14.00. Tin steady; spot and nearby, 30.20; future, 30.50. Lead steady; spot New York, 5.50; East St. Louis, 5.35. Zinc easy; East St. Louis, spot and futures, 4.30a4.35. Antimony, 8.00. Quicksilver, 119.00. | Caterpillar Tractor Co. NEW YORK, August 11 (#).—Officials of the Caterpillar Tractor Co. and the Oliver Farm Equipment Co. said no price reductions in their tractors are in prospect as a result of a price cut an- nounced by the International Harvester Co. J. 1. Case Co. officials said no de- cision had been reached. CHICAGO DAIRY MARKET. CHICAGO, August 11 (#)—Butter— Receipts, 9,205 tubs; market firm; creamery extras, 371,; standards, 37%%; extra firsts, 36a3672; firsts, 34a35; sec- onds, 32a33!,. Eggs—Receipts, 13,081 cases; market firm; extra firsts, 25a26; fresh graded firsts, 24a24},; fresh cur- rent receipts, 20a21%; ordinary current receipts, 15a19. SHORT-TERM SECURITIES. (Reported by J. & W. Seligman & Co.) Alis-Chalmers Co, 5s 1037. orp. o & St. Louls 6s Phillips Pet. Co. 5%s 1939 Pure Oil Corp. 5135 1937 Shel! Union Oil Co. 5s Co. 5las, Standard Oil N. Jersey 55 1048. 10 Standard Ol N. York 4las 1951 £t. L., Ir. Mt. & 8. Ry. 5s 1031. outhw Ry. Co. 4s 1932. & Co. 5s 1932 o Union ‘Oil Co. of Calif." 55 1935, United i U, 8 Rubber 35 1947. . 82 Western_Electric Co. 58 10425 Wheeling Steel Corp. 5los 1948, 10214 Wheeling Steel Corp. 4%as 1953. 92% o South Africa will have automatic tele- phones. and establishing new low priges for the year, the cotton market steadied and, recovering most of the earlier loss, end- ed a few points lower than Saturday. Early pressure weakened the market, but when State details showed only five stations in Texas and four in Oklahoma and Arkansas with precipitation of a quarter of an inch or more, while tem- peratures as high as 114 degrees were recorded in Arkansas and ppi, short covering took contracts from the ring and the list closed around best prices of the day. Spots were reduced 5 points to 12.55. Cotton range: October, old October, .new December, old December, January, anuary, rch d BusEEEEGE 3838323857 I CHICAGO STOCK MARKET By the Associated Pres CHICAGO, August 11.—Following is the complete official list of transac- tions in scks on the Ohicago Stock Exchange today: Sales STOCKS. in _hundreds. 50 Acme Steel. . 200 Addresso _Inter 100 All-Am_Mohawk . 300 Allied Mot _Ind 100 Am Com Pow - 50 Am Equities. ... 350 Am Pub Ser pf. 20 Am Pub Util p i 50 Am Pub Util par 100 Am Service 121 Assoc T & T 50 Auburn _Auto. 1100 Bastian-Blessin 700 Bendix _ Aviation. 15 High. Low. Close. 10 1 Conatruction . 11 Pub Ser pf . 200 Mid-C 7800 Mid West Util.. 100 Mid W Ut 6% i 175 Nat Pub Serv pf. 50 Nat Secur Inv ctf 50 Noblitt-Sparks 4 44 37% % 37% B B 40" 40 pi 20 o 268Y; 169%% 14 & So Am.. 50 Northern Paper 200 No West' Bancorp. 30 Oskhosh_Over pf. 13 Public Serv . 65 Public_Serv n 00Q R S Music 0090903t o3 90 s Ittt eh P et 600 Zenith Radio Total stock sales 'BONDS. 13000 Tnsull Ttil 6s '40,..102 5000 Northwt EI Ry 5s "4l 88 2000 Union El 55 '45 8 Total bond sales tod! 101% 8814 DEPARTMENT STORE SALES. NEW YORK, August 11 ( Department store sales in July were 9 per cent smaller than in the corre- sponding month a year ago, according to. preliminary reports to the Federal Reserve System by 519 stores located in leading cities of all Federal Reserve dis- tricts. Sales during the first seven months of this year were 5 per cent be- low the level of a year ago. s | ,were $3,649, 42 BY GEORGE T. HUGHES. is is or B Enalut"E) i e : road" securities. recommend the purchase o 7, Darticular stock, but to Eive the 4 Fach informat ab fon as = {elileently o chart bis ova courses New Haven. ‘Twenty-eight years ago, in 1902, the stock of the New York, New Haven & Hartford Railroad sold on the New York Stock Exchange at $255 a share, Seven yéars ago, in 1923, the same stock sold for less than $10 a share, Today it sells between $100 and $110 a share. A generation ago New Haven stock was considered a highly conservative invest- ment. In 1923 the road was not earn- ing fixed charges and its bonds were ranked as semi-speculative. Last year charges were covered 2.78 times, and this year, even with the existing depres- sion, interest will be earned more than twice over. Few American railroads have had so interesting a history, few have been so severely tested and still fewer have emerged from the test without reor- ganization. As it stands today, New Haven is paying a 6 per cent dividend on its common stock and earning it by a reasonably safe margin. A fair esti- | mate is that around $10 a share will be earned this year. For those who re- quire more consérvative securities than the common stock there is a choice be- tween the convertible bonds and the | preferred stock. There is a 6 per cent bond issue ma- turing in 1948, now set:v‘red under the company’s_first and refunding mort- gage, which is convertible into common stock at par at any time up to the date the bond falls due. In effect the bond is a call on the stock at $100 a share, and it sells in the market at a price that reflects this privilege. The bonds have another important povision in that holders are entitled to subscribe to any new isque of stock to the same extent as if they were actual holders of the stock into which the bonds may be con- verted. ‘The preferred stock is 7 per cent cumulative and sells to give a return of around 5.8 per cent. I, too, is vertible into commmen stock sh: foge s of - now immediate market price, nevertheless, is higher because of the conversion feature. The only drawback to the preferred stock is that the company may redeem it in whole or in part on 60 days’ notice at $115 a share. There is no present prospect of any redemption action, but even if the preferred were called the shares could still be converted into common. GAIN IN TOBACCO PRICE REPORTED IN GEORGIA By the Associated Press. ATLANTA, Ga., August 11.—The' State Department of Agriculture today announced an average price of 12.42 cents per pound for last week’s offer- ing of bright leaf tobacco on the Georgla market. This compared with the first week’s average of 10.58 cents per pound, and an advance for the second week last year of 21.54 cents per pound. Total poundage for the we was 29,386,978, as compared with 19,100,442 pounds during first week, and 217,905,103 for the second week last year. ‘Total reeeslgof.l for last week .54, as compared here with $2,022,06/ for the Fenner & Beane ek i Rt e e New York New Orleans Our New Telephone Number s National 7000 1430 K Street, N.W. Washi 24-Hour Parki Basement of Investment “'.nl & K St Met teal ODD LOTS ON account of the large increase in odd lot business, our Main Office has opened a special Odd Lot Department and we will carry, on conservative “margin, accounts of ten shares or more. Mackubin, Goodrich & Co. \ ESTABLISHED- 1899 BANKERS Members New York ur;d Baltimore Stock Exchanges Associate Member New York Curb Exchange : 1508 H STREET WASHINGTON, D. €& e REDWOOD & SOUTH STS. BALTIMORE, MD.