Evening Star Newspaper, August 17, 1930, Page 64

BOND PRICES MOVE THE SUNDAY STAR, WASHINGTON, D. C. AUGUST 17, (Continued From Second Page.) 1930—PART _SIX. FINANCIAL, POTATO MARKET. CHICAGO, August 16 () (United States Department of Agriculture).— Potatoes—Receipts, 96 cars; on track, 185; total United States shipments, 58 weak, trading fair; sacked Irish Col blers, Wisconsin, mostly 1.75; Missouri, 1.60a1.75; Nebraska, 1.75a1.85; New Jer- sey, 1.80a1.90; Minnesota sacked early Ohios, 1.45a1.55. 18 o — e ——— i Prance entertained 2,000,000 tourists last year. 31% Money to Loan 68 Secured by first deed of trust on real estal Prevailing interest and ecommission. Joseph 1. Weller 3.7 b £ 3 [ First Mortgage Loans Net * High. Low. Close. Chae. 101 1001 101%5 881y 89y 861 UNITED STATES GOVERNMENT, L High. Low. Close. Chge. 0.29 100.29 Lib 18t 43,8 1932-47. 102 102.1 Lib 4th 448 1933-38. 103.2_ 10 US33%m1940-43, ‘ L1 U S 338194347 ¢ Utah Power & Light §s.. . Utilities P & L 6%s '47 Walworth 6s '43 Walworth 6%48'35.... Western Union Tel 634 Wilson & Co 1st 68 “41.... Youngstown Steel 58 '78.. RAILROAD. Atch T & S Fead) 4s'95.. Atch T & S F gen 45°95. .. Atch To & S Fe 4 %8 Atlantic C L 1st 48 '62. Atl Coast Line ¢%s 64 4 B & O gold 4 . IN UPWARD TREND . ‘Legal and Second - Grade Carriers in Demand—Util- | 109.¢’ 10116 08 43 1944-54 11314 169228 US 4148 194752, Ities Are Favored. . FOREIGN. 956 Argentin June '§9.. Argentine 6s A '07 Australia 5s 55, Austria 7s°43. ——1930— __ “a . Stock and dividend. Transamer (11.60)...... Transcontl Ol (30¢).... Transue & Williams (1). Tri-Continent] Corp Tri-Con Corp pf (§). Trico Products (234). Truax-Tra Coal (1.60) Truscon Stl (£1.20)..... Twin City Rap Tr (§4).. Twin City Rap Tr pf(7). Ulen & Co (1.60) Underwood-£311- Union Bag & Pape Va-Caro Chem of (T)... 774 Va Elec & Pwer pf(6) n. 103 Va Iron Coul & Coke. ... Vulcan Detinning (4).. Vulean Detinning pf (7). 230 102,30 101,14 10114 101.21 108 10617 105, US3%81946-66 Wabash pf (A) (5). Waldorf System (1)1 o Walworth Co (2) 29 96% 1011, 9614 ‘Warner Bros Pict Warner Bros P pf (2.20) Warner-Quinlan (1). BY DONALD C. BOLLES. Associated Press Pinancial Writer. NEW YORK, August 16.—The in- quiry for domestic investment issues, which has been persistent throughout the week, continued today to keep the course of the bond market narrowly upward. The bulk of the demand was for le- gal and second-grade carrier obliga- tions, with a few utility and industrial issues profiting to a_lesser degree. Atchison issues, Chesapeake & Ohio 4),s, Erie 5s of 1975, Missouri Pacific 55, New York Central 5s, Southern Rail- way 4s and Union Pacific first 4s were well bought at slightly higher levels. One of the most active spots in the group was Southern Pacific 4'3s, with warrants, which showed a small gain on the day's movement. Utilities were steady to firm, with American Telephone 5s, a legal issue, holding around yesterday's final price. Consolidated Gas 5 Pacific Gas & Electric 55 and International Telephone | 58 were among the firm spots in the 1ist. Stock privilege issues were dull and fluctuated narrowly. with the trend un- certain. The foreign list was quiet. ‘Good buying appeared for Gierman 5155, Other standard obligations were vir- tually unchanged. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS NEW YORK. August 16.—Following 1s a summary of important corporation reports, prepared by Standard Statistics Co. for the Associated Press. News Trend. First half earnings 'statements con- tinue to contribute heavily to corpora- tion news. Of the day's large number ©of publications, five showed larger re- turns than in the like period last year. These are American Safety Razor, cerless Motor, General Alloys, Hack- ensack Water and Pet Milk. Concerns meking distinctly poor comparison with the 1929 period include Radio Corporation, George A. Hornell & Co., Powdrell & Alexander and Superior Steel. Further improvement is shown in the ‘week’s insolvency record. Commercial failures numbered 441, decline 11 from previous week and 27 less than two weeks ago. In the 1920 week there were 368 Insolvencies. Bank clearings were 34.5 per cent below year ago, with every reporting city showing loss, New York’s total fell 39 per cent, and cen= ters outside 228 per cent. The Industries. Agriculture yield of all fruits, as of August 1, expected by Department of Agriculture to be about 18 per cent above short crop 1929, but about 10 per cent less than 10-year average. Automobile tires—rubber goods earn- ings statements made public by several leading companies, together with other data, indicate conclusively that first half 1930 was, from profits standpoint, distinctly unsatisfactory period for most automobile tire concerns. It is probable only a few of most favorably situated companies escape operating Josses, and that even their returns were materially below expectations. Prospects for second half year are lit- tle more encouraging. Sales have been influenced by smaller replacement de- mand and restricted original equipment requirements and total production for year is now estimated at 60,000,000 casings, against about 71,000,000 in aggravated by actual losses in origin: equipment business and narrows profits on replacements through fresh price cuts, it is questionable whether more than two or three favored com- a:mu will report any profits for en- e current year. Coal—July anthracite shipments to- taled 4345841 gross tons, increase 202,902 tons over June, and 658,255 sbove year ago. The Companies. American Glue preferred stockhold- ers formally offered $135 share for holdings. American Safety Razor earned $3.51 common share in first half, against $3.03 year ago. Columbian Carbon first-half earnings $3.19 common share, against $4.57 year ago. Chrysler Oil Refining had deficit $377.206 in first half, against deficit $163,931 year ago. Dominion Stores sales four weeks to July 26 off 2 per cent; 30 weeks, up 0.8 per cent. Dunlop Rubber, Limited, sells inter- est in Macintosh Cable. Equitable Office Building reported considering construction of three addi- tional floors on Equitable Building. Fanny Farmer Candy Shops July sales off 5.7 per cent; seven months, 2.6 per cent below year ago. Garlock Packing first-half earnings $1.49 common share, against $2.07 year 8go. General Motors first-half production Chevrolet light delivery trucks was 27,236; increase 20 per cent over year ®go; since 1916 has built 1,169,000 these units. Hackensack Water first-half earn- ings $1.48 common share, against| $1.06 vear ago. Hazeltine Corporation earned $1.19 €ommon share in first balf. George A. Hormel & Co. earned $1.86 common share in nine months to July 26, against $4.83 in like 1929 period Midcontinent Petroleum earned $1.45 common share in first half on profit €2,697.059; in 1929 half had income $5,987,397, before depreciation, deple- tion and 'taxes. Ohio_Oil _declares initial quarterly dividend on new stock Peerless Motor Car had profit $208,- 839, equal to 49 cents common share, in nine months to June 30, against deficit $306.519 year ago. Pepperell Manufacturing prices re- duced on all lines; quotations lowest since 1917. Pet Milk first-half earnings 64 cents common share, against 51 cents year 50 cents common ege Powdrell & Alexander earned $225 common share in period January 1 to July 3, against $7.87 first half 1829, EXPANSION OF WESTERN OIL MERGER RUMORED By the Associated Press. NEW YORK, August 16.—A report to Dow, Jones & Co. from San Fran- cisco says it has been established that bankers and representatives of the com- panies have held conversations in re- gard to inclusion of T A ciated Oil Co. in the consolidation now forming of Sinclair Oil Corporation and Prairie Of} & Gas Co., but that such inclusion has not been determined defi- nitely. It is indicated that the merger of Sinclair and Prairie probably will pro- ceed, and that decision with regard to ‘Tidewater will follow. ‘Wall Street hears that Sinclair is Bank of Chile 6148 '57 Bank of Chile 6% s 1961 Belgium 6s ‘55 1 Belgium 8541 1 Bolivia 7sct 6 Bordeaux 6s '3 1¢ Brazil 6158 1 . Brazil 8s'41. . 1¢ Canada 5s 52 san . 30 Chile Republic 65 1960. Colombia 6s 1961 Jan. Copenhagen 5s '52 109% 9914 Denmark 51s 1955. 10 1031 Denmark 6s 42 1 ¢ 101% S0 101 os 20 10 French 78'49..., French 7%s'41. Ger Gov 5865 w + German Bank 6s 1938, German 7s '49. 10 Greek 63 1968. Irish Free State 63 '60 10 Ttaly 7851 . R Japanese 6158 "4, 310 991 Czechoslovakla 85 ‘51 1 1. 1037 104% )91, 1097 1094 . 6o 69 Wts 105% 105 100 1051 W 100 51: 105 911, 10% 110% 110% 1, 101 101 61, 105% 106 p27 1024 1 )3 102% 108 991, 100% 001 50 6 105 851, H01: 100 )it 1047 108 1001¢ axis Kreug&Toll 5s ct wi ‘69 9718 i 98 Mexico 48 1904-54 Milan 6852, [ Netherlands 6s *72 New South Wales's Norway b8 10 Orient Dev 5%;8°57...... 9 Paris-Lyons-Med 6s '68.. 10 Paris Orleans 514s 1968 Pireili Co of Ttaly 10 a 8350 a1 Rhine! Rhine Westphalia 6s°62.. Rlo de Janeiro §3 '46 Rio Grande Do Sul 63 '68. Rome 6348 "52....... Sao Paulo State of § ine Dept of is Utd Kingdom 5 Uruguay 6s 1960 Vienna 6s 1952 Warsaw 7s 195 Yokohama 6s'61... MISCELL. Abram & Straus 533543, . Allezhuny Co v 58 '44. Am Agri Chem 7%s'41.., 10 Am Beet Sugar 6s'35. Am Chain 6s 1933. .. 10 Am1G Chm5%s 1949 Am Internation § s "49. Am Natural G 6% ‘42 7% Am Sm & Ref 18t 5847, Am Sugar Ref 68 '37 Am Tel&Tel cv 435839, Am Tel & Telsf bs. Am Writ Pep 68°47. Armour & Co 4%s Armour of Del 51 Atlantic Ref deb 55 '37. Bell Tel (Pa) ref 6848, Beth Steel pm 68 '36 Certain-teed 518 1948 Chile Copper 6! Colon Ol 63°38. Columb G & E del Comm Invest 6%8s 49 Comm Invest del Con Coal (Md) 1st ref 5 Detroit Edison ref 6s'40 Dodge 6s'40. Duquesne 438 1967. . East Cuba Sug 7%s '37. General Cable 6% 8 1947 Gen Motors 6s '37. Goodrich (B F) 61847 Goodyear Rub 58 1057.... Humble O & R6%»'32... Inland Steel 4%s 1978 Inter Cement 53’48 Inter Match 68 '47 4 Inter Mer Marine 6 Inter Paper 63 A ‘47.. . 10 105% 91t 964 53 9674 100's Kendall 5%s '48 (war). Lackawanna Steel 53 '50 Laclede5 ;s D 60 ] Lorillard 6%s'37.. Manati Sug s f7%s "4 Midvale Steel 68 °36. . Montana Power 63 1943 Nat Dairy Prod 6%s 48, , Nat Radlator 68 1947... 03% New England Tel 68 ¢ N Y Edison 1st 614841 N Y Tel 4%s'3 N Y Tel 6s'41.. North Amer E£d 7 Northern States Pow Pacific Gas & EI 63 " Pacitic Tel & Tel bs 'b: an-American 6s ‘34 Para-Fam-Lasky 65 '47 Philadelphia Co 58 '67 Phil&Read C&] 63 w1 Philips Petrolm 6% 9615 101 1007% Reming-Rand 68 47. Sinclair Ol 6s ‘80 Sinclatr O1) 78°37. Sinclair Crude Ofl Sinclair Pipe Line & Southwes Bell Tel 58'54. . Stand OII N J 6 10 Stand Ol N ¥ 4%s 10 Sugar Est Orlente 5 Tenn Copper 6544 B.. Transcon Of] 6%s ‘38 United Drug 58 '63. .. U'S Rubber 18t & ref 8s.. 144 18 108': 108 Peru 6s'60 98 71 Peru7s... s 9: 941y 13 S0 90 1065 107 3a B 2% 101% 1017 91 90°s 90N 04 103% 104 103 s 9% 92w D01 1001 1001 94 94n 00t 99% 100% 91 941, 107% 107% - . B6ly 3 961y 104 104% B&Oevd%s 3 Balto & Ohio bs'48. B&Oref 539 B&Oref5sD2 Balto & Ohfo 6s B&OPLE&W ¢ B&OS W Divis Bangor & Aroos 4s'51, Boston & Maine 55 '67 Broadwy & Tth Av 6343, Brooklyn Manh 15t 63 A .. Canada National 4% 8% anadian Natl 4348 '67... an Nat July 5 69 5 Canadian Pacific deb Central Pacific 43 *49 Central Pacific 58 19 Chesapeake Corp b5 '47., Ches & Oh gen 414392, Chi Great West Chi M St P & P 6875, Chi M St P & Padj 58 Chi& N W6k Chicago Rys b Chi R 1 & Pac ret Chi Unfon Station 4 48 Chi Union Station 613 Chi & West Ind con 4 Chi & West Ind 5% s'82. . CCC&StLIT41;8E CCC&StLbsD. Cleveland Term Cle 100% 10t 99 987% 99 C 1047 89% 95% 105 100 104% 100 101ty 100t 1045 1061 1091y Colo & Sou re Cuba R R 58 '52 Cuba North 6% Del & Hudson 6%s '8 1d (1) . Detroit United ¢34s'33.. Grand Trunk s £ deb 6s. Grand Trunk 7s '40. Gireat North 413876, .00 Great Nor gen b%s '52... Great North gen 78 '36... 106's 1% Y8y 100 100 641y 10612 9% 99 100 102% 105% 105 105% < /B4 . 1028 110% 109 110 9815 971 83 BIG NEW AMERICAN SHIPS 100 100% 105 105 964 86 Havana Hudson Ilinols Ilinols i 100 b 99 N 103% [ Inter G Inter R Kan Cit Kan Cit 0415 10 64 1010 1 38 : " Lehigh 1041 1601 161 Market Minn & 4 106'4 10T 1025 102% 47% Nassau 9914 6% Ly 107 Y s 984 944 101% 103 46y L 2222222277 106'% 106% 93 93y 1021 102% 96%, 101%, 99% 100'% 100% 100% B4 B4y 109% 110 North ¥ Ore Wi Pern R1Ark StL& ¢ 1141 114% St Loul 1017 101% : 1064 107 @ 1027 103'% 102% 103y 102 1027 105% 106 103 104 99% 101 9614 9574 EERLN 981 100 South F 106' 1hi'e 4 12p South I 93y 0R% Union 109 Un Pac Virgint; 0417 104 104% 00 99% 100 88 3¢ 101% 102 Wester) 861y WILL OUTCLASS LEVIATHAN PAUL W. APMAN. By the Associated Pres: NEW YORK, August 16—A $90,000,- 000 shipbuilding program, designed to give America supremacy on the rich North Atlantic Ocean trade routes, has been launched by the United States Lines, In 1929 this country stood seventh among the world shipbuilding nations. ‘Then Paul W. Chapman, who was born on an Illinois farm and never had crossed the ocean, decided to go Inio the shipping business. He bought the United States Lines for $16,000,000 from the Government. | A policy of expansion, encouraged by the Jones-White bill, - which provides Government ald for shipbuilding and operation, went into effect. Now Amer- ica has more merchant ship tonnage under construction than any country except Great Britain and Ireland. Contracts already are signed for the first two units of the United States Lines' program They will be two huge 20-knot, first-class liners, the largest ever bullt in this country, says Chap- man, Costing jointly more than $21,000,000, the ships will be 705 feet long, with a beam of 86 feet and gross tonnage of Each will accommdate 1,300 passengers. ‘These ships, to be launched in 1932, will be similar in design to the Levia- than, but will have two funnels in- stead of three. Their interiors will be even more luxurious than the present flagship of the Ameriean merchant marine. In keeping with an agreement with willing to pay $20 a share to acquire llo‘n%}flng! Oil Co., whereas Rio has been offered to Sinclair Consolidated Oil on the basis of ap- proximately $25 a share. A the Shipping Board at the time line was purchased from the Govern- ment, the United Btates Lines' progr: also includes two super ships of more than 45,000 the | died at Throne, England, of am | Pl lans for construction of | tons displacement, with a speed of about 30 knots. Their cost 1s tenta- tively placed at about $35,000,000 aplece. | — . \PRINCE OF WALES WANTS | UNDISTURBED HOLIDAY ‘Keepfi August Free of All Engage- ments That He Might Enjoy | Personal Liberty. | LONDON (N.AN.A).— The Prince | of Wales, like every one else, needs & holiday sometimes, and this year he has | kept August free of engagrments, so he | might lead as quiet and undisturbed a | life as is possible for a prince. He has | made no definite plans, but it is likely |that he will make an informal ffllfln‘ tour in his new Puss-Moth biplane. Accompanied by & friend, he will sim- ply 1and near a certain links one morn- ing, play a round or so, and then fiy off again into the void. Scotland is | likely to be the chosen venue for these trips, as the prince has long desired to play over some of the famous courses there. | H. R. H. has now taken to wearing a canary-colored vest and trousers for fiying, thus following the lead of w close friend, the Earl of Lonsdale. The prince - certainly favors brighter colors { for men. His reddish check plus fours and cap bear testimony to this, And | where he leads others are cerlain to | follow. “Jack,” dog which earned local fame as & collector for hospitals, has verdigris g, sald h'fi have mm-uua by n mouth 2, luupnow in a hotel ?&"‘3 Doncaster Infirgary. = Hud & Man ref b8 '57.. Louls & N Penna cn 4% 1960 Een 4% Penn 4%38'63 Penn gen b8 4 Penn 58 1964. Penn 6% 36, Reuding 434897 Rlo Grand West col 4 St L Iron Mt gen &, Southern Ry gen 4866 Southern Ry 1st b8 Southern Ry gen 6s Va Ry & Power & Wabash 4% Wabash 1st 5 ‘39 % \Wabash 58 B 197, Wabash 638 ‘75, West Maryland 4; West Maryland 5% West Shore 1st 48 2361, Elec Ry 63s. & Man adj os' 100 Cent ref 48 933, Central 4 Inter Rapid Tran os ‘66 Inter Rap Tr 53 ata "6 inter Rapid Tran 6s '52 inter Rapid Tran cv 7s. t Nor adj '6! y Cent Am 6148 y South 85 1950 y South 58 ‘50 Val cn 48 20 h uni 43 *40 StRyTsA "’ Mil El R & L 1st ref »; St Lref4s 9. MStP&SSME%s's,, Mo Kan & Tex 13t 48'90.. Mo Kan & Tex adj 6s '67. Mo Kan & Tex pr In bs. Mo Pacific gen 4s'75. Mo Pacific 55 A "65. Mo Pacific s I, Mo Pacific b: Elec ¢s N'Y Cent deb 48 ‘34 ‘ N ¥ Cen ref imp 58 2013., N ¥ Cent deb 63 85 2 Ch'& SLretblisA.. h&S LrefsiasB.. i &St L 6531, 67 Pacific North Pacific ] ific 58 D 2 North Pacific r 168 2047 .. h 18t ref 4s61... 108% 102 101% 110% 104% 110 101 87 1004 101 99% 66 100% B6% 100 101 9% &L é%a'ss. StL&SF4%s"7 FrésB 88 W con 4s'32. StPKCS Line 4% Seabonrd A Liref 4s'59. South Paetfic ref Pacific 4% 8Oy 11 110% ty dev 658 ‘66, 12 istref 4860, 485y 28% 978, acific iy i1fic ref 43 200! Y4 a Ry 1st §3'62.... 34, 1074 101% 94 1031 1007 1041y 86% 100 978 n Pacific 68 46. .. REPUBLIC STEEL REPORT SHOWS NET OF $285,472 Special Dispatch to The Star, NEW YORK, August 16.—The first report of the Republic Steel Corpo- ration, & consolidation of Republic Iron & Steel Co, Central Alloy Steel Corpo- ration, Donner Steel Co, Inc., and the Bourne-Fuller Co., was recelved with interest today because the Street has heard rumors regarding the future of the $4 common dividend, Net income for the first three months after the merger was 2, or 42 cents a share on the 6 per cent preferred and nothing on.the common. During the period the company deducted $3,146.272 for main- tenance and repairs, $1,803,984 for de- preciation, renewal and exhaustion of minerals and $885.993 interest charges. Chairman T. M. dler said that most efforts had been directed toward co- ordination, and earnings were affected by decreasing business and declining prices. Pipe Line Rental Sought, NEW YORK, August 16 (#).—Nego- tlations are reported nearing comple- tion for the use of the Eastern portion of the Buckeye Pipe Line Co. system by the Gulf Oil Corporation. It is understood that the line will be used in connection with a Gulf Ofl line which will extend from Glenpocl, Okla., to new refineries to be constructed by Guif at Cincinnati and Pittsburgh and will forward crude ofl to the Toledo refinery of the Paragon Refinery Co., acquired by Qulf. Guif officlals said they were not in & position to discuss detalls of the transaction, Visits Summer Residence. BLED, Slovenia, August 16 (#)— Queen Marie of Jugoslavia, with her mother, Queen Marie of Rumania, and her sister, cess ITleana of Rumania, arrived at the royal Jugoslav er ice toda; T ia and Germany, y ‘sfter & trip to Union Carb & C (2.60) Union Ofl of Cal ($2).. Union Pacific (10). Unlon Pacific pf (4).. Union Tank Car (1.60) United Alrcraft. .. 4 United Alrcraft pf (3) United Biscult (1.60), Utd Business Pub. Utd Carbon (2). United Cigar of. United Corp (3¢ 1™nited Corp pf (3) United Dyewood. . . United Dyewood pf (7).. United Elec Coal United Fruit (4).. 4 Utd Gas & Improv United Paverboard. Unit Plece Dye W (2). United Stores A Utd Strs pf ( o U S Distributing. ... U 8 Distributing pf (). US K Us& Us& U S Freizht (3)... U S Hoffman Mch (2)... U S Indus Aleohol (17). U S Leather..... U. 8. Leather, A (1).. Smelt & Ref pf(3%) teel ( Ss .. S S Corp pt (7)aea Univ Pictures 1st pt (8). Uaiv Pipe & Rad Uti] Pwr&Lt A (e2) Vadasco Sale: Vanadium Vicks Shre: Virginia-Caro Chem. . PIUI 4401101+ +14+1 1 1++++++++ u Warren Bros (3). Warren Fdy & Pipe (2) Webster-Eisenlohr. Wesson Ol] & Snow mon O1l & Sn pt (4) st Penn Elec A (7) Penn Power pf(7). n Dairy A (4). 171 Westinghouse Air B (3). Westinghouse B & M(5) Westinghse E&M pf (5) White Motors (2) Whit Wwh White Sew Mach pf Wilcox U1l & Gai Wileox & Rich ¢ Willys-Overland. . Willys-Overland pf (7). & Wilson & Ce., Wilson & Co (A). Woolworth Co (2. Worthington Pump. Worthngton Pump A(7) Worthngton Pump B(6) In Arlington County And Alexandria, Virginia Commonwealth Investment sfes"sxex 4-Hor Pll’ iz our, "ay"or ith. i+ $5%s Fx"srses ng @ Exceptional Opportunity SECURITY SALESMEN An Investment Banking House, offering well diversified list of se- curities, has opening for two wide- awake men. Give experience and qualification, Box 151.D, Star Office THE COMMERCIAL NATIONAL BANK V44 Lt d4] ) £ PERxEe -k e » Young Zenith & Dividend rates as payments based on _t! Ex-dividend 1 Plus 9% n 1 Plus 10% in stock. % in stock. k Plus Wrigley Wm (4). Yale&Towne Mfg(4) Youngston Sheet & Tnt Nickel (Aug. 30) 1 Partly extr tock a Pald n stock. d Payable .when e 4+ 400000 SEE FREFELE S&T stpd (5) Radlo. RIGHTS—EXPIRE. L] given in the above table are the snnual cash © Payable in cash or stock. h Plus 2% in stock. iPlus € Plus 6% in stock. Pl in stock. 3% in stock. n ELECTRICAL POWER OUTPUT SHOWS GAIN Current Rate About Even With That of Last Year—Drought Effect Seen. BY PRESTON S. KRECKER. Special Dispatch to The Star. NEW YORK, August 16.—Wall Street today was discussing with no little in- terest the amazing recent increase in electrical power output, revealed by statistics of the National Electric Light Association, as possibly signifying turn upward in industry. The current rate of output is virtually even with that of a year ago, whereas for several weeks it had been running consistently behind the 1929 rate. Actual output the past week, as re- ported by the National Electric Asso- clation was 1,679,000,000 kilowatt hou compared with_1,644.000,000 the wee ended August 2, a gain of 35,000,000, The rate of increase for the last few weeks has been more than the normal seasonal gain and is well above the output for June and July. As the increased demand for electric power coincides with the period when the drought was most acute, it is re- garded as likely that there is some con- nection between the two. A substan- tial percentage of the improvement is believed to have resulted from use of auxillary pumping stations in water works throughout the drought area. It apparently became necessary for water supply companies to operate those plants to supplement diminished flow from gravity systems. Another factor, in the opinion of authorities on elec- tric power, was the much - increased pumping for irrigation in many parts of the Southwest, where the drought aggravated naturally dry conditions. On the other hand, the Detroit dis- trict, which is essentially an industrial area, reported an increased demand for electrical power, which seems to be re- lated immediately to increased activity in the automobile industry. Electric power consumption in the country at large has been holding up remarkably well in the face of the business depression. Consumption ran slightly ahead of the figures for the corresponding period of last year all through the first five months of this year, It was not until June and July that the output dropped below the 1929 totals. The August pick-up, irrespec- tive of its cause, has been one of the most interesting industrial phenomena of an exceedingly dull Summer period. If output continues to increase during the remainder of this month, the gain will be interpreted as an indisputable sign of business improvement. (Copyright, 1930.) WORLD COPPER OUTPUT, NEW YORK, August 16 (#).—World production of "copper in July aggre- gated 143,615 short tons, compared with 145,797 tons in June and 174,507 tons | cooler weather prevailing this week has in July last year, the Ameri | of Metal Statistics reports. HOW IS Showing Current Business Activity Compared With Sam: Week Last Year. Special Dispatch to The Star. BALTIMORE, Md., August 16.—The brought about & more active demand for all kinds of chickens, and while prices show little change from week the market holds firm and all desirable stock meets with ready sale. Receipts have been only moderate and there is a better demand for good sized colored Springers, large Leghorns and old hens, but small, thin fowl of every description is hard to move. Mixed colored Spring chickens, 23, pounds and over, meet with ready sale at 28 to 30 cents & pound and 21, pounders at 25 to 27, but smaller birds are slow sale at 20 to 24. Leghorn Springers, 2!; pounds and over, in better demand at 20 to 23, with small birds bringing 18 to 20, while bare backs of all kinds are neglected at 156 to 19. A better demand 1is noted for old hens and val ues are a shade higher at 18 to 22 for medium to large stock, but old hens under 3!, pounds not being over 15 to 17, with large Leghorns selling mostly .14 and 15, supply for the de- mand which is limited at 13 and 14. For full feathered ducks there is a fairly good demand at 13 to 15, but stock welghing under 4 inds is neg- lected at 11 and 12, while ducks are not wanted at any price, Market for guinea fowl and pig 5 to 75 each for the former and 15 to 20 & pair for the latter, Egg Prices. The market for native and nearby eggs holds steady to firmer, but owing to the poor quality of stock due to the recent hot weather buyers are giving preference to Western refrigerated eggs. Recelpts from nearby points are grad- ing mostly current receipts which are slow to move out even at the lower values, but no trouble to place eggs that show fresh laid quality, with hen- nery whites bringing a premium over quotations. The market closed today at 23 cents a-dozen for nearby first and 20 and 21 for current receipts. Potatoes are in ample receipt for the demand, which is limited, and market has a slightly weaker tone at 75 to 2.25 T 100 pounds with Eastern Shore rrel potatoes selling mostly 3.00 to 3.25. Due to the recent drought native and - nearby garden truck in lighter receipt and prices on practically all lines show an increase at the following quotations: String beans, 3.50a4.00 bushel; beets, 4.00a5.00 hundred; cab- bage, 1.00a1.15 bushel; carrots, 4.00a 5.00 per hundred pounds; sugar corn, 20840 dozen; cucumbers, 50a1.00 ham- per; eggplants, 1.00a1.25 hamper; lima beans, 2.00a2.25 hamper; onlons, 1.50a 2.00 per hundred pounds; peppers, 50a 75 hamper; squash, 1.00a1.25 hamper, and tomatoes, 50a75 Bmper, but pack- ing stock will not Wing over 90al.20 per bushel. Live Stoclf Market. ‘The live cattle rket holds st to firm under lighr receipt lndt?:l): proved demand, ghich is centered, however, on first gfiality stock and all undergrades slow af inside prices. Quo- tations today at Pight Street Whar: Beef cattle, first fuality, pound, 6a common to mediufn, 4a5. Bulls as to quality, 4a6. Cows; choice to fancy, 5a dad. USINESS? GENERAL BUSINESS ACTIVITY for the York City. Shaded ai how weeks of Black areas indicate decl: ACTIVITY BY FEDERAL RESERVE DIS’ compared with the same week » LEADING BAROMETERS, important factors. Business n dollars (checks cashed) Employment (Department of Labor) Wages (Department of Labor) Cost of living (Industrial Confe Wholesale prices (Fisher's Index) .. Agricultural prices (Department of Movement of goods (car loa Retail trade (Fed Steady (All rights reserved. Cambridge Assoclates. Bostea.) P CIGARETTE MAINTAINS TOBACCO PROSPERITY | NEW YORK, August 16.—An out- put of American cigarettes this year which will surpass last year's record total of 127,400,000,000, despite world- wide business depression, is indicated in the sixth annual world survey of the tobacco industry just completed by | Charles D. Barney & Co., members of | the New York and Philadelphia Stock | Exchanges and the Chicago Board of Trade. That the cigarette is steadily gaining ground at the expense of the cigar, pipe and other forms of tobacco is another conclusion reached by the analysis, Evidence of the remarkable growth of the cigarette business, as contrasted with the decline in other branches of the tobacco industry, is strikingly illus- trated in the taxes paid to the Fed- eral Government. he 1929 increase of more than $40,000,000 in_cigarette Tevenues over 1928 was sufficlent to' offset the decrease in revenue from other tobacco sources and to produce an increase of $37,994,502 in total tobacco revenue for the year. The total contribution of the tobacco industry to the Government last year was $449,- 058,963. In 1922 the tobacco tax brought in $270,000,000. | Belgrade Police Rout Communists. BELGRADE, Jugoslavia, August 16 (#)—One Communist was killed, a sec- ond badly wounded and a third com- Let us serve you in all banking and fiduciary matters. Interest paid on savings accounts from day of deposit to day of withdrawal. Resources over $19,000,000 WADE H. COOPER, President 14th and G Streets Money on Hand to Loan em First Deed of Trust 6% Interest Reasonable Commission and Prompt Applicat! JAMES F. SHEA 643 Louisiana Ave. N.W. Join Hands With Success Play safe with the future; assure yourseli of sufficient funds later by being con- servativeand investing your money carefully in Guar- anty First Mortgages...the soundest investment. We Make First Mortgage Loans! Capital Resources, $3,500,000 mitted suicide in a fight between po- lice and Communists here yesterday. 24 JACKSON PLACE An Exceptiona ambition. active, will find $5,000 to $20,000 annuvally. in the country, well equipped plans, Several hundred men volved. sand or more, Local Security Representatives THX! advertisement is addressed to men who, though not looking for a “job,” would be interested in a con- nection with a large securities o~ganization which will be pleasant, profitable and permanent. The work does not require traveling but can be done in your own community—be it large or small. perience is not necessary for men of ability, character and Men who are well acquainted and influential in their com- munities, with successfu! business reccrds, retired, or still this an unusua! Write fully about yourself and in confidence. You will bz addressing one of ‘he ten largest industrial organizations The securities are well known, listed on various exchanges and held by over haif a million people, This position is available now because of sales expansion for years, No promouional or pioneering .efforts are in- Applicants are desired from cities of five thou- Address BOX 92—E Star Office I Opportunity Previous ex- opportunity to earn 1o give hearty co-operation. have been. doing this work F LR 5T years ¢ Over a Third g of mat Century Without a Loss they ar May SA INVESTING FOR DEFINITE INCOME There is no variation of in- terest during the entire term of overed by our 6% FIRST MORTGAGES It's 6% on the da —and continues 69 you invest to the date urity—when the princi- pal is returned. Because of this definiteness e popular with investors who appreciate fixed return— and without risk of principal. be purchased in amounts from $250 up. UL CO. 925 15th St. N.W.