Evening Star Newspaper, August 19, 1930, Page 14

A—14 o FINANCIAL, FINANCIAET. SURVEY OF BANKING FAGTORS IS URGED Statistics Declared Helpful in Solving Problems , of Present Depression. (Continued From Page 13.) bbb b asa N ridend Rate. Add 06 Hich. Low. Rate. A ol 3 Pittsbgh Trmi Coal.. 1 6 5 Thomp-Star pf (3%) Poor & Co (B) (2). 2 As (§0c). P Rican Am To (B).. Tide Water As pf (6) Prairie Ofl & Gas(2) e). Prairie Pipe L (15). . . Pressed Steel Car Tobac Prod(A) (80e) Proctor & Gamb(2.49 Transamer (31.60). . Transcontl O1l (30¢). Pub Serv.N J (3.40). Transue & W (1)...s Pub Serv N J pf (5). Trico Prod (2%).... Pub Serv N J of (6). Tri-Contl Corp. b Tri-Cntl Corp of (6). Twin City Rap T(§4) Ulen & Co (1.60).... Und-Ell-Fischer (5). Union Carbide (2.60) Union Oil of Cal (32) Union Pacific (0). .. Radiopf A (3%).... Union Pacifio pf (4). Radio Corp (B) (5).. 14 Utd Afreraft........ Radlo-Keith-Orph A 367 Utd Alreraft pf (3).. 6 idend_Rate. ‘Thompson Prod(32.40 Thompson Starrett. . NEW YORK STOCK EXCHANGE | |BONDS IRREGULAR | [ovee o BONDS mexscnave] [BUILDING REVIVAL IN QUIET MARKET gy — DEPENDS ON CREDIT in Stocks. :::,:.:’.“ 100k 104 low THE EVENING STAR, WASHINGTON, D. C, TUESDAY, AUGUST 19, 1930. UNITED STATES. Sales. High. Low. Close. (Salés are in $1,000.) Sinclair Crude 5%s 42 102% 1024 102% Sales High. ¢ Sinclals PL 68... 101% 101% 101% Sales. High. Skelly O11 6%s..... 4 96% 96% 964 frigtr 04 Some Selling in List Is At-|zibdmixs 52 i:gg%; ifi z: fig 2: Z':‘:"‘EY’":‘"M" 15 12 106 100 108 Material and Property Values tributed to Revival L SurEsOrintiace: & 30 a1 aa| Declared Low Enough for Low. Close. Arguntine s o5 1oe% 10t 104 Construction Program. Argentine 98% 98% 98% 98% Argentine 98% 82% 824 2% Argentine 99% 101% 101% 101% :rnnlin. 98% 90% 89% 90% United Drug 8a '8 ™8 Rub 1st rf § Utah PwralLt §s, Utilities Pwr 53 Vertiente: LI 1Y Walworth Walworth 6348°35. 11 Warn Bros P ¢ '¢9. 1 BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, August 19.—Though bonds continued their advance today on the average, there were a number of spots where issues receded from their highs. This selling was attributable to the fact that stocks were strong under & broad buying movement, which result- ed in some switching by those who have merely held their money in bonds awaiting an opportunity to change ad- vantageously into stocks. On the theory that stocks were dis- counting an expected trade recovery in the Fall, the change from bonds ‘Was not at all surprising, inasmuch as those who have held bonds for two months or more are able to realize a substantial profit. ‘There were no new issues again, ever, and despite the above mentioned factor many issues held persistently around their peak prices or even ex- tended them fractionally. In the prime group, for instance, there were gains in Baltimore & Ohio first 4s, Canadian en 4348 20 Pacific first 4s, Inland Steel 414s, Du- g:mnn- en 65 rots quesne Light 43s, Western Union bs | C=echo8s'51... and American & Foreign Power = 5s. | Danish Munic $s B. These were offset by fractional declines | Denmark 4. in Canadian National 5s, Pennsylvania | Denmark 5% s ‘55 BY JOHN F. SINCLAIR. Special Dispatch to The Star. NEW YORK, August 19.—Uncer- tainty, and to a large extent alarm, des- cribe the feeling of a great many people, high and low, in all walks of life, re- rding present business conditions. ‘.The m%re experienced and penetrat- ing want to know whether we are on the eve of s fundamental change in the economic and social structure. And everybody is interested in finding out what the weaknesses are in the present situation that give rise to such crises and how they can be corrected, Republic Steel pf ( e Re: Copper & Br. Which means, of course, what is the CEB (A) (4). immediate job ahead for the United Reynolds Metals (2) States as a whole, for each gm\lplof Reynolds Spring . people possessing in common a definite, Reynolds Tob A (3) . tangible, concrete set of interests, and bt o A B finally for each individual? Richfiela oil (1) .. ‘Unemployment Situation. REde. ‘3‘.‘.?,’.},’: A detailed outline of this would re- Royal Dutch a$.2165 quire many, many columns of newspa- T 5] 1f, on the other hand, we to present a general formula which ‘answers these questions within the harrow compass of a single article, we come up against the formidable difm- culty that abstract language doesn’t mean much to most of us. The unemployment situation, urally, is the thing which hitts hardest. The merchant finds himself affected by the shrinkage in buying power and re- duces his orders from the jobber, and ultimately from the manufacturer. These in turn, anticipating a falling off in their business, reduce their pay Yolls, either by part-time employment, reductions in wages, or closing down le or in part. m'r‘;n};flbanu selze this particular time to call on everybody who owes them enything to pay what they can, to the great irritafion of the borrowers, who believe this is just the period when banks have the least profitable oppor- tunities for the employment of their e saw in & previous article how the authorities differ on the l'\l‘gjeelzb of the business cycle. Clearly we are a long way yet from under- standing the nature of this peculiar oscillation in the rhythm of economic life. It seems that about as useful a step as any is to lend intelligent sup-| 199, rt to every movement and undertak-| g7 fi. of a serious character aiming to| jo1y understand_better these rhythmic pe- | “jgi culiarities in the life of the business| 75 world. 104% No one would challenge for a mo-| 49 ment the proposition that the proper | gqy understanding of the cancer problem | 4os involves rfien‘ scientific work in a variety of directions. The news col- umns carry from day to day the record Stewart-Warner (2) of the dauntless and unflinching ef- Stone & Webster (4). 53, forts of scientific pioneers to get the Studebaker Corp (3) 10 best of this remorseless enemy of the Sun O] pf race. Superheater ( ‘Well, in the same way, news columns Superior Oi1 o A e e e { (R Ry B ) Tenn Cop & Ch (1). story of the efforts of practical scien- % $iste in another feld o get the best Toxas Corp 3)....0 Punta Alegre Sugar. Pure Of] (1%) Purity Bakeries (4). Radio Corp. . Western Eleo Utd Biscuit (1.60) Utd Carbon (2)... Utd Cigar Stores. United Corp (50c) United Corp pf (3 Utd Dyewood. Utd Fruit (4). Utd Gas & Imp(1.! Utd Gas & Imp pf(5) Utd Plece Dye W (2) Utd Stores (A) % U S & For Secur. 101% 101% 101% 100 100 100 Win RepeatAr 7%s 2 103 103 103 Youngstn S&T 6a.. 5§ 103% 103 103 RAILROAD. Atchison ad) ¢ 8 94 3% M Atchison gen 24 98 97% 98 A T&SF cv4e'48 53 129% 127% 128% Atch Ariz 43 3 103 103 103 Atl Coast L 30 96 96 96 ‘how- 5 96 95% 96 1101 101 101 - 47 101% 100% 101% 5 104% 104% 104% 10 110 109% 109% |ioan. The constructors assert that now 7106 105% 105% | is the time for the banks to relax their 1 89 89 89 |restrictions, loan money and 27 100% 100% 100% | make the terms advantageous for the e fa rms 72 99% 98% 99%|owners and thus stimulate building. 9 1041 104 104 Independent observers hold that Buf R& Pittsd4%4e. € 94% 94 04 eachy 4145, Southern Pacific 41,s, Northern | Denmarks..... is partly right. There is small doubd z:::'d';:;-;:]' 0l o S 4 4 ,,_‘:m 4s, Great Northern 7s, Chicago, | Dutch East ind ¢ Bush Termcon6s.. 1100 100 100 |that the material markets are advame Va-Car Chem o 6 Burlington & Quincy 4s, Standard Ofl | Dutch East 1 : Can Nat 4%s 54 12 99% 98% 9974 | tageous for home building, and tha Va E1& Pwr pf (6)..160s of New Jersey 58 and Laclede Gas “C” | E1 Salvador 8 "4 g Can Nat ¢ 26 99% 98w g9 | property prices are such thalt land mag 42 2 2 Vulcan Det (4). ..., 2908 4% 5%s. Finland s £ 63 °45. 13 99u 98y 99 ught profitably. Labor is plenti: 1 0 A few of the issues with stock conver- ¢ 1 104% 104% 104% | ful and labor costs are down & trifi , Vabash, sion or option features were actively 5 104% 104% 104% | But before home building can get R ) higher., These included Baltimore & 7 101% 100% 101% | Teal start, the public must be inspirey b i g Ohio 4%s, American International 5145, 3 117% 1170 1178 | t0 desire to build homes, and aj iy e ke American Telephone 415s, Loew’s 6s and 48178 90 893 9% | that inspiration is temporarily lacki Wb e G talas (1), General Theater Equipment 6s. Short 1100 100 100 | It is to settle the question of what piletomatt Cnrriban covering came into the two last-named 9 103% 103% 103y | Wrong that President Hoover has ape Western Md. i following the depressing of the amuse- 1 104% 104% 104y | pointed his Building Commission. West Penn El pf (6). ment issues on Monday. 5 104% 104% 104% | Residential building, according to res West Penn Pw pf(6). ‘The balance of the bond market 1 958% 5% 95% | ports to the American Federation of Western Union (8).. showed an frregular trend, with gains . 12 100% 100% 100t | Labor, has not commenced to incresse Westinghse E&M ® and declines so evenly divided as to Ches& 0 14 100% 100% 100% | a8 has public work construction. Thers Westhse E&M pf (5) leave the market substantially un- éhl. 4%8B'95 20 100% 100% 100% | is & general drop of 10 gcr cent as Weston El Instr (1) changed on the day. & Alt 35, 3 1214 72% 72 |compared with last year, but m Motors (2)... The industrials were mostly lower, She 3 95% 951 951 | shortages are beginning to be n the leader in activity being Dod; GB&QeHsMTB.. 20 101% 101% 101% | Strong efforts are being made to hm Brothers 6s, which, however, were only Q1strt 21 108 108% 10814 | Wages in construction lines up to 1 off a small fraction. Sinclair 7s and Shia B I 18 971 9o levels. Appeals are being made to em- Shell Union 55 with small mprove- Chi Gr West 4889, 15 70 ploy local workmen instead of Riring Willys-Overland.... ments balanced fractional sags in Chi M&St P 48’8 H 2% newcomers willing to work for less. In Wilson & Co. . Phillips Petroleum 5%s and Skelly Oil Chi MllkstPfl.il’l 3 o mpomde dh:fllfifx" n:o"::r:ofimfi:mmm i s 5148 : . : Wilion & Co (4311 R s rootlis it e Sal Ch M&StP 4%s'89 10 991 order to secure jobs. State officials Worth Pump. . featureless. Some South American Worth Pump(B) (6) bonds were weak, but others had wide Wrigley (Wm) (4).. enough gains to leave the general bal- Yellow Truck....... ance undisturbed. Yale&Towne MIg(4) Nearly all of the abrupt decline that Youngs Spring (3).. occurred late last week in Federal farm Zenith Radio. ....... bank bonds has been recovered since misun RIGHTS EXPIRE the misunderstanding between thelr A status and those of the joint stock BN T VT Sunn 14 %1% land banks had been cleared up. Un- 1% Warn Bros P.Sept 15 W 14 fortunately there was heavy selling by ales icks on New York Exchange nstituf on misapprehensions cre- Sales of Stocks on New York Exch institutions isapprehensior 10:30 AM.. « 4228800 12:00 Noon 973,700 ated by a widely distributed analysis. 1:30 P.M........ 1,349,900 2:10 P.M. 1516200 |It is understood that the Federal land Dividend rates as given in the above table are the annual | banking group will make a statement cash payments based on the latest quarterly or half yearly declara- [ in & few days. Tex Gulf Sulphur(4) .vmn’ of !rlgu}l l‘le :lh-? 100 :h»nfl,.] OP'lrtlr lxll'-, !Pl‘lll 4 " A T TexasPCAOM..... k] | Bt thiy Jearono restiar Tate. b Parable in- st Washington Stock Exchange ess ezas Pec Las AThed. " Pavable in cash or Sock. Pl e s n i g e Thateher Mre (160 21% Sock. ¢ Flus 6 per cent In stock. h Plus 2 per SALES. of the circle of special 3 al Plpe & F (3) Pipe & F 15t 1.20. s s B&Oref 6595 S Realty (5) s s S5 Rubber, Rubber 1st pf. ... S Smitg & Ref (1). 6 5 Sears Roebuck($2%) 84 63% i g A3 . Sec Natl invpf (5).. 1 1 nat- % Servel Ime.. . ... 18 ' D b Shattucki FG)(+1%) 11 X Shell Trans (a2.423) 100s % Shell Union (140).. &1 Shell Un Ol of (5%) 8 Shubert Theatres 2 Simmors Co. Simms Petr: Stnclair Con Ofl (2).. 94 Sinclair Oll pf (8). 1 Skelly Ol 2)....... & Sloy hefMeld pf (7) 2108 Snider Packing pf... L 4 Sou Porto Sug (1.40) & So Port Ric S pf (3).. 408 Southern Cal 4 (2). Sou Dairfes,A (1%) Sou Dairies (B).. Southern Pacific (6). Southern Rwy (8)... Southern Rwy pf (6) Sparks Withngtn(1). Spear & co. Spiegel-M: Stand Branas (1% ) Stand Brands pf (7 Stand Comm Tob. SrandG& B (3%). Stand G & E pf (4). Stand Gas& El pf(6). Stand Invest Corp. .. Stand O of Cal (2%). Stand Ofl Exp pf(5).. Stand Oil of Kan (2) Stand Oil of N J(12). Stand O1l N Y (1.60). Sterling Sec (A). ... Sterling Seo ov pf(3) Can Pac 4% Can Pacifie 68 '54 Can Pacific ctfs b Cent of Ga §%s. Cent Pacific 43 45 White Sewing Mach, Wilcox Of!l & Gas. Wilcox Rich A (2%) ChiMIIStP&P 68’75, 11 844 are making efforts to insure that only CM&StP Pac adj bs. 41 50% local workers are employed on State Chi &N W eon 4% 64 100% 100 100y | #0d municipal projects. Chi & NW ref bs. 1 127!6 107% 107% Looking for Turn. 1 Chicago Rvya ga. 80% 81 | 1t is generally admitted that any Srniay ) definite_improvement in general busi. ChiRkIsI4%sA.. 26 9715 973 97 | NSS may serve to aid mfif”m in the ShUnBwdia.... '6 102% 1021 102 | STACICHOn iines. Such an upturn i Chl Un 8ta 6348 3 115% 115% 116% ki S gl Windoonds.. 3 92 92w égw | Sonstiction men do mot want fo wait 1 108% 105% 105% | foF o e 1 100% 100% 100% 1 100% 100% 100% 2 104% 104% 104% 2102 101% 102 5 1004 100% 100% 13 99% 99 99 G w - construction men de leome I)e{m'el= ren;l bser’e raised to any large extent an ore space costs 7 63% 59K 50y | Fise above their present levels. CubaNor6%s'43. ... 18 5 There seems to be no oversupply of 2% 52W 524 | individual homes, and if the Ananciers g:llk&!gxuddrg:; ':v 5% 95% 954 95% |and the construction men can agree on~ 3101 w01 101 tock. Thermoid Co i $'Plus 8 per cent in stock. k Plus 3 per cent in stock. m Pl as unpredictable and in some senses "R) (3. per cent in stock. n Plus § per cent in stock. D Plu as destructive as the extreme fluctua- tions of meteorology, or even seismology. Statistics Helpful. The gathering of statistics intelli- ntly and in & d!scrlmlnlfinf ‘way, along lines drawn up by people who know very definitely what ey are after and how far it is practical to try to gather such figures, will help ma-| terially in letting us find out what really gives rise to all this oscillation from boom to depression. Of course, finding the real causation of the business cycle does not by any means guarantee its elimination, any more than determining finally the real cause of cancer will mean necessarily its cure. But what is perfectly certain is that if we do not find out what causes these things we can't ever ex- pect to cure them. 1 can see a look of disappointment settle over my reader’s faces when think my first prescription (based en all my expert diagnosticians’ opinions) is to get a lot more and a lot better records. But some other treatments seem to be indicated which perhaps will appeal as a little more vigorous and immediate. With so little agreement on what ought to be a fair public policy with respect to the control of gold and the movement of capital to and from the great metropolitan credit centers and in and out of the country, it seems as though there is real ground for a thoroughgoing survey of all the fac- tors that now affect banking policy. By that 1 mean the principles which govern the movement of capital out of the country, with all its tremendous effect upon domestic industry and commerce; the movement of capital in the country from the farm regions to the metropolitan centers and from these to the great dominant money market of the United States, New York. Credit Policy. I mean, too, the various phases of credit policy that enter so vitally into th. acquisition of property and its use for productive purposes, such as, for example, , our strange, obscure and chaotic system of mortgage legisla- tion, court precedent, bank policy and realtors’ practice. It does seem that some common ground could be found by the ele- ments that have some larger reeling than the merest self interest, for an intelligent survey of this problem, which affects the farm and the urban :flmmufll!y alike, although in different vavs 4+ vlans developed which make for a L ced city and country life are | wortih while. (Copyright, 1930. by North American News- T Alliance.) TREASURY CEVETIFICATES‘ (Keported by J. & W. Seliggan & Co.) ate— Bia Ote, 0..... 100 233 100 1 21 00 28. 1 2 100 28-32 SHORT-TERM SECURITIES. (Reported by J & W. Seligman & Co) Allis-Chalmers 55 1957 o1 Kmer Tel'& Tel 8an 1943 Amer Thread 525" 1938 Balto & Ohio Ofter. 5 1933, 4125 1942 Bell Tel of O Calif Pet Corp nadian Nor. icago R ‘Thompson (J R) (3). 37% % 87% | preferred stock. r Bubject to approval of stockholders. EMPLOYMENT DROP IN JUNE IS SHOWN Maryland Figures Reveal Decrease of 3.4 Per Cent During Summer Period. Special Dispatch to The St BALTIMORE, August 19.—A decrease of 34 per cent in employment in se- lected manufacturing industries in Maryland during June and July is re- ported by Dr. J. Knox Insley, Maryland commissioner of labor and statistics. ‘There was, moreover, a loss of 5.6 per cent in' the amount of combined pay rolls for the two-month period. ‘Three of the 14 major groups covered by the report—food products, chemicals -and allied products and tobacco prod- ucts—showed increases from 5.0 per cent to 6.1 per cent, the remaining 11 groups showing decreases from 1.1 per cent to 25.1 per cent. Employment in selected manufactur- ing Industries in July was 5.6 per cent lower than in July 1929. Employment in a group of depart- ment stores showed a decrease of 5.2 per cent from June to July, 1930, and the amount of their combined pay rolls a Jecrease of 2.8 per cent. Employment department stores was 5.4 per cent lower in July, 1930, than in July, 1929. Reports from a small group of whole- sale establishments indicated a gain of 9.0 per cent in employment from June uly, 1930, and an increase of 0.1 per cent in their combined pay rolls. Employment in wholesale than in July, 1929, Statements made by a group of pub- lic utilities showed a gain cent in employment from June to July, 1930, and a loss of 3.4 per cent In the amount of the combined pay rolls. Em- ployment in public utilities was 6.9 per cent higher in July than in July, 1929. report is based on written re ports made by 471 Maryland establish- ments, in which there were employed in July 87,015 persons, whose combined weekly earnings were $2,078,383.39. u.s. AVIATEJ.N INDUSTRY SHOWS BIG GAIN IN 1929 By the Assoclated Press. Aviation, one of America’s youngest industries, registered a gain of 1929 in production value during 1929, as com- pared with 1927, the last previous cen- 3 | sus year. The Census Bureau, after a survey of establishments engaged primarily in the manufacture of aircrafi, and parts, announces the value of 1929's output amounted to $61973,079, as compared with $21,161,853 in 1927. Last_year's total is made up as fol- lows: Pive thousand one hundred and thirty airplanes, valued at $38,724,987; 176 seaplanes and amphibians, valued al $5,049,671; 6,188 parachutes, valued at $1,437,602; 14,184 propellers, vi at $2,040,299; other complete aircraft, establish- | ments was 1.6 per cent lower in July | of 0.1 per| BEAR MARKET BELIEVED NEAR END BY VETERANS Special Dispatch to The Star. NEW YORK, August 19.—The street is disappointed that the fireworks of last week did not attract buying orders and that leading stocks Monday were unable to better their peaks of last week, but the strong support of the list during the morning reaction Mon- day, couplied with the indifference to the weakness of Fox Film and a few specialties in the afternoon was re- rded as favorable. ‘The manner in which the general list slightly improves as some stock or stocks are pounded—and frequently the latter movement is reflected in that se- lect list of issues that make up market averages—strongly suggests to veteran tape readers that the bear market is entering its last phase. The last stages of a bull market are accompanied by a gradual settling of the list with a few issues simultaneously making new highs each day and the reverse phe- nomena is noted at the end of bear markets, CLOTHING IS FOUND IN DRIFTING LAUNCH Two Women and Man Believed to Have Drowned After Deserting Craft Swamped in Sound. By the Associated Press. NEW YORK, August 19.— An open launch containing the clothes of two women and a man was found drift- ing and almost submerged in Long Island Sound near Port Jefferson, L. I, yesterday by a Coast Guard patrol boat. The crew of the patrol boat belleved the occupants of the launch had taken to the water when their craft was swamped, and started a search for the three, who they believed might have drowned. The launch was a 12-foot mahogany vessel with a small outboard motor, bearing the name And How. The Coast Guard could trace is owned by Victor A. Bell of New York, who said his boat was in the City Island yards at New York. The craft had been reported at first, when patrol boat number 213 sirst sighted it, as containing three bodies. VIRGINIA COUNTY NOTES DECREASED HAY OUTPUT Special Dispatch to The Star. STAUNTON, Va., August 19.—The County Board of Supervisors, in reply to a questionnaire sent by Gov. John Garland Pollard on prevailing condi- tions in Augusta County, has declared that farmers of the county this sea- son will harvest not over one-third of the normal crop of hay. Not over one-tenth of a crop of corn only launch of that name which the | SWINDLERS RETURN TO WORK IN STREET Stock Exchange Keeps Up Cam- paign to Protect Public From Frauds. Special Dispatch to The Star. NEW YORK, August 10.—Just like molasses will invariably attract fiies, so falling security markets attract swin- dlers. after the Autumn crash, had pointed out to him some of the most notorious bucketeers that ever set foot on Wall Street. They rested while the stock market soared dizzily, for a bucket- shop never makes money in a rising market, but these vultures returned here from their European, South American and Canadian haunts ns soon as shares crashed. Customers of fraudulent security con- cerns have lost about $37,010,000 in the last seven months, of which nearly $4,000,000 was lost in July. Unlike other “bear” markets, however, fraud- ulent security sellers have met increas- ing sales resistance and persistent persecution from both Federal and State authorities. One of the most cheerful items in the monthly report of the New York State Bureau of Securities today is the increasing number of prosecutions. The bureau obtained 20 _show cause orders against 68 individuals, firms and cor- porations during July, compared with 9 such actions against 36 individuals and firms in July, 1929. The outstanding achievement of the Stock Exchange since the turn of the century has been its successful war against security swindlers. Realizing that bucketshop patrons had no effect marketwise, since neither their sales nor purchases ever were executed, the exchange deliberately fought the vultures that prey on the gullible per- sons that visit the financial district. Purely aside from stimulating trading— F the volume of exchange dealings rose about 25 per cent with the "lyl'l':l out of bucketshops as the hinterland found Wall Street to be predominantly honest—the New York Stock Exc inge has saved millions for the average in- vestor through Its constant war on security crooks. LUMBER ORDERS HOLD AT REDU,CED LEVELS By the Associated Press. Orders for lumber continued low dur- ing the week ended August 9, and there was no marked stepping-up of produc- tion from its recent low level. Orders amounted to 87 per cent and shipments to 86 per cent of the total|Ls production of 279,723,000 feet, it was re- ported by 854 leading hardwood and softwood mills to the National Lumber Manufacturers’ Association. During the previous week 885 mills reported pro- duction of 302,960,000 feet, with orders | Ter. 92 per cent and shipments 97 per cent, | 1! The latest period's figures indicate considerable improvement in the rela- Tents'1n | Georgetown Gas 5s—8500 at 103 Potomac Electric §% pfd. Federal-American Co. pfd. 10 at 99, 10 at 99, 10 at 99, Real Estate Mtge. pfd.—40 af; 6%. AFTER CALL. Peoples Drug Stores pfd.—5 at 104, 10 at 1037, Washington Gas 6s B—$500 at 10515, Washington Rwy. & Elec. 45—8$3,000 at 000 at 89%. The Carpel Corp.—50 at 23Y. Bid and Asked Prices. BONDS. PUBLIC UTILITY. B v Amer. Tel. & Tel Amer. ‘tei. & e Am. Tei & L u FOL. K. R wuar. The writer, within two weeks | Washington Gas »s. Wash. Gas 6s, series A. Wash. Gas 6s, series 5. Wasn, Rwy. & klec. 48..... MISCELLANEOUS. Barber & Ross, Inc., Chevy Cnase Club 5! STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. (9, apital Tiaction Co. Wash Li. Co. (i8 Capital (14). Columbia 113 Second (de) Washington (13 TRUST COMPANY. Amer. Security & Trust Co. (15) 385 Continental Trust (8. i Merchants’ Bank & Trust ¢ Natl. Sav. & Tru Union Trust Wash. Loan & 1 BAVINGS BANK. Bank of Bethesda (6§) Com. & Savings (10). Washington (12), 10).. Bec. & Com. Seventh_Street (12). Uhited States (30). - = ‘Washington Mechanics' (20 FIRE INSURANCE. American (12).. Corcor . Golumbia 8l Estate Title & Inv. Co. Md. col MISCELLANEOUS. Barber & Ross. In Ghevy Chase Dairy Col. 8and & Gravel pfd. Col, Medical Bldg. Corp D. C. Paper Mfg. pfd Dist. Natl. Sec. ptd. (1) Emer. Bromo-Selz. “, Federal Btorage pfd . Go com. ¢ Mer. Tr. & Stge. Mergenthaler Linoiype ( Natl. Mtse. & Inv. ples Stores p Real Est. M. & G, pfd. Security Blorage Ue) . ef W. Mech. Mtge. com. (8] Wash. Med. Bldg. Corp. Woodward & Lothrop pf Rhine Wst EP Rio de Janeiro 634, Rio 4e Jan 85 48. ., Rio Gr du Sul 6s'48 Swiss 648 4 Swiss Conted Toho El Pwr 68 '32. ‘Toho El Pwr 7s. Tokio b Tokio 6 Utd Kingm 5% °37 Uruguay 6s°60.... Vienna 6: Alleghany Cp Alleghany 6. Am For Pwr 63 203¢ Am IGChb%s 49, Am Nat Gas 6% 8'42 Am Smit & R 18t 63 Armour&Co 4148’39 Armour. Del.56%s Asso Of1 Atl Gulf 63 '69. Bell Tel, Pa, b8 (B) Bell Tel Pa b3 (C). Bethlenm £tl pm Beth Steel rf b8 Bush Term Bldg bs Certn-Td 6%s ret Chtle Copper 6 Colon O1) 63 '3 dge Dugquesne 4345 "67. . Gen Cable 638 47. Gen Mot Ac Cor 6s. Gen Pub Sve 6% Gen St Cast 6% Gen Thea Eq 6; Goodrich 6%s. Goodyer 6s rcts Hoe & Co 6%s Humble O & R 6 HumbleO& R6%s Ili Bell Tel 6. . 14 Lortllard (P) N Lou Gas&El 68 '53. e —— A DERETNCAD D BAANND-AND ~D NOAIBDPON MW = al woen NAA~A©N® an CREENNDA aNn me—ALB® 8. i Solivonannlie ~RxiaS ~aa - 4% 10214 1034 1034 83 106 Del & Hud 6. 5 105% 10 Dend& RioGonds.. > 9%1s 901 oo 961 961 %| Den&RGW 5 '85. .. 9% 928 D R G&Wst 5878, 90% 918 983, 98% Duluth 88 & Atl bs ‘lg‘l 82% 924 925 924 9214 enessee Rs 63 3 1184 113% 1134 1 45 45 45 6 106% 106% 106% 33 99% 994 991 | 1 110% 110% 110% 24 112 1% 111% 6 100 99% 100 824 27 101% 100% 101 11003 100 1o 111 Cent ref §s ' 1 106% 108\: m;"f: 11 Cent Chi 4% s. ‘6 991 99y, 9914 TU-C-C-StL&NO bs. 12 105% 105% 105% Int Rapid Trans 6 4 66% 66Y Int Rap Tr 6 31 66 Int Rapid Tra 2 50 Int & Gt Nor . 3 88 871 Int Rys CA 6isre. 2 " 92% 17 80 80 2 102% 102 102% 12 94 93k 98y 10 84% B4% R4y 1 100% 100's 10014 43 9% w2 uzy L 12 9T% 9Tk 97 10 101% 101% 101% 1 485 48% 48% Kan City Term Lake Shore 3348 Lake Snor ManRy 1st 4 Market St 78 Mo Pacific gen ¢s.. 13 9% 79 Mo Pac bs F' 17 o 14 101% 100% 100% 5 101% 101% 1014 1 107% 107% 107% 2 9% 9% 9% 5 94 94 94 4 98 98 98 5 103% 103% 1031 4 84 84 84 1 95% 954 95% 13 100% 100% 100% 1 814 81% 814 ChI&SL 4 %818 65 994 98% 98s C&StLE%sA 1 107% 107% 10734 C&StLE%sB 3 107% 10714 10734 "33.. 9 102% 102% 102% NY NH&H 3%8 54, 12 80 10 9% 81 951 N Y Ry 65 (A) 65 59 NYW&B K. .. Norf&Sou gn 6854 Norf & Wncon ¢s.. 10 Nor Pacifie 35 2037. 12 Nor Pacific 4. 4 Nor Pac 4% 20: 2 102 Nor Pacific ref 6 2 113% 113% 113% Ore Short L con 1106 106 106 Ore Wash 1st 6 93% 931 93y Penna gen ¢ 2 102% 102% 102y Penna ¢%s 87 98% 98 98y 5 101% 101% 101% 1 110% 110% 110% 8 104% 104% 104% .eo 13 1104 109% 110 2 26 26 26 11 100% 100% 100% 5 105 104% 105 1 954 96% 954 & policy of financing, the revival may come sooner than anti~ nated. Low in- terest rates and activ’ v in municipal bonds have stimulated municipal bor- rowing for road buildirg and the effects of such expenditures wi'l aid in reviving other forms of construc:ion, it is felt, (Copyright. 1930.) Baltimore Markets ‘Swl‘lll Dispatch to The Star. | BALTIMORE, Md. August I tatoes, white, 100 pounds, 75a2.25; bar- rel, 2.7583.25; beans, hamper, 3.5084.00; beets, 100, 4.00a5.00; cabbage, basket, 1.00a125; carrots, 100 pounds, 4.00a 3‘-2 gesleg. crate, 1.25a2.25; corn, 1, 25a45; cucumbers, hamper, 1.00a :‘.lscz: m‘le b?'?l.s buah’ll, 3.504.00; let- 1.2582.00; s hasper, TS0818; 5 , 1.00a1.25; tomat hamper, 50a75, blackberries, mm 13a16; centaloupes, hamper, 50a1.25; huckleberries, gfl.l.rl, 16a22; peaches, bushel, 2.25a3.75; watermelons, 100, 10.00a45. Dairy Market. alive—Chickens, 20a30; Leghorns, 15a23; e} 15a22; Leghorns, 12a15; roosters, 13al4; ducks, 11a15; P EieaRicelpts, 467 cases: near cceipts, 467 3 by firsts, 23a24; Southern firsts, 22; cur~ rex;;t {:ceip'.s. 20. 7 utter—Good to fan und, 36a41; ladles, znczyv; io%‘.u?”l’l packed. i process, 32} 3 ”.21.-7 321%a%3; store Springers, Hay and Grain. 2 red Winter, export, o “z.d' wmu ter, nru:fi!. B o1; Octoter, 93. b e orn—No. 2 domestic, L14aL15: cob eorn, 52sass0 " " Catewhits, o No 3. aoigaso; = v P B0as; Hay—Receipts, none. market strengthe: . Drought se; curtailed nearby crops, chang: ln, the entire situation. i tofore shipping are now :fi;.o &‘y hay. mflood'melover and new bring from 1o 28,00 per ton. . mvovhnt straw, No. 1, per ton, 9.00a ; oat straw, No. 1, 1000; No. 1, per ton, 9.00a Live Stock Market. Cattle—Receipts, 200 head; lugflzl;_ mnrkfle‘t dull. r5—-Cl ime, ; good to choice (grass fed), 75080.00; ‘me- dium to good, 7.00a7.50; fair to me- dlum, 6.50a7.00; plain to fair, 5.60a &5.?: comn}l‘%l‘! mu?l-m‘ 4.5085.50. ce to. prime, ;. good to_choice, 6.2586.50; medium to_good. ;.m;s.w rf-‘:r ;owu;egloum. 5.5086.00; air, 5.00a5.50; plng. 4.50-:.00. i ws—Choice to s 5 choice, 4.75a5.00; eomn'zmm'?fw"-’ :675 lira ?‘.,oo.l;lggmm. 3.50a4.50; plain zAa‘alnixioh. ; : ot i X eifers-—Choice to prime, ; good to choice, 6.5087.00; ‘medtum 1o good, ai:u';s.zg: ‘mr ;o medium, 5.50a6.00; p! alr, 5.00a5.50; common plain, 4.5085.00. ot wlo'rflelh cows and Springers, 30.00a Sheep and lambs— ts, 500 head; light ock Tsland 45 19: Chile Copper Co. 55 1047 .. udahy Packing 5'r 1937 Gen. Mot Acceo. Corp. 6y 1937, General Pet Corp 5s 1940, Gen Theaters Eguip 65 1940, Goodyear T & R. § k 3 Grand Trunk of Canada 65 i936 106 Gulf Oil of Pa 55 1937 -1 Humble Oll 5las 1932, I t. Ma Manat! Sugar 7%4s, Montana Pwr ‘43, Nat Dairy 6% s Nat Radiator 6%4s. New Eng Tel ll‘. $639,990; airplane parts, and engines| and oats is expected, it is asserted, and | tion of hardwood orders to production, | *Ex dividend. 2% extra. 111 111 111 made for sale as such 381872850 re- | there hus. been practically no pasture | While softwood ‘Showed Peonditions | BBcoks ciosed. pair and experimental Work, $3.387.269; | since August 1. slightly less favorable than 7 other products, $1,605,976. o few weeks. in the last' moc extr aEx rights, g e — ella% extra. wi—When issued. MONEY MARKET. CHICAGO, August 19 (P (U. 8. SILVER QUOTATIORS. 82% extra. s NV Cht & 8t i02%s | NEW YORK, August 19 (#).—Call| Department of Agriculture).—Potatoes| NEW YORK, August 19 (#).—Bar Biling Pt Coy $Tis 1090110 9812 8% | money steady, 2V ber cent all day.|-—50 cars; on track, 221; lotal U. S, | siiver, 36. i Tt e 19%Ratie 00 “davn. aiimatt: 4| TAE smcked el Cobblers Sssount e s | days, 4! ; 3 H air; sacl 1] lers, sour} months, 21,a3; 5-6 months, 3a3.|1.65a1.75; Nebraska, 1658i85; New FOREIGN EXCHANGES. Prime commercial paper, 3a3%;. Bank-|Jersey, 1.65a1.80; Wisconsin, 1.70a1.80; | (Quotations furnished by W. B. Hibbs & Co.) ers’ acceptances unchanged. Minnesota sacked early Ohio's, 145a Nepanarecld Selling cpecks e 1.55. METAL MARKET. R A ST | Brusiais. " bei NEW YORK, August 19 (#).—Copper | Richmond in War on Home Brew. poiit metk. T ¢ steadier; electrolytic, spot and future,| RICHMOND, Va., August 19.—Mem- : 3 10 X . vy Wmemmm—se 11. TIron quiet; unchanged. Tin steady; | bers of the Richmond police “clean-up” d, t Mnlu-'l:n‘:unl talking pictures are to and nearby, lntusrgb 30.37. | squad are making a drive against home- six steamers will dock at West Coast| ” anvS Cig 0 spot, be Wi , Poland, the first | Lead quiet; brewers, who are making “their own,” for de- b ufiugfl ;’W povel *Jgnko mlst. Louts, Sergt, Dan W. Duling stated in an- O e ornr s el Duretis Rem Arma 6891, known Polish suthor, * light supply; market steady. Sheep, 110s 1o 1a% |1.0083.50; lambs, 4.00810.50. L 2 100% 100% 100% Port RL&P 7% 246, 1 106% 105% 105% AT 1 o Reading 4% B... 50 1018 101 101% 2 116 118 116 oG West col o 1 100% 100% 100% hefuicetye B R1ATk& L 4348, e 4 101% 101 101% | Term Asso StL bs. e T04% 1 99% 99% 99 ~ = Sreat POTATO MARKET. e 10 2 104% 104% 106% Texas & Pac 1st... 11 1124 111% 112 % 03" | Tox Facse s 3 lor o3 seg ‘ex N 04 StL&SanF b8 1102% 102% 102% | Third Avead) 6s... 43 294 N!’:M “:“m sg.l;m 1 99% 10 97% 9% 9T% StL'8 S b8 oiw om 14 94u i Union Pao 4%s.... 40 101% 101% 101% Virginia Ry 1t 6 3 107%°107% 107% Wabash 4% s Wabash NEW YORK August 19 (Special) New York bank clearings—Today, $1,- 121,000,000; & year ago, $1,772,000,000. | 0o ginsqy b New York bank balances—Today, $157,- 000,000: &' year ago, $193,000,000. New | Pacific Gas York Federal reserve credit balances— "f‘:’dly. $129,000,000; a year ago, $170.- ead e Phillips Pet 638. . RO SO S AL IPmlburvl‘Ml 43 Silk Cargoes Expected. Por Ric Am Tob 6s. NEW YORK, August 19 (7). —Twenty- | poste, T® 8 C CHE » I 1T U PASRUPRY - P S ft & Co 58 1932.. .. Union Oil of Calif 5s 1935.. gnited_ Dru Co. Ss 198. 8. Rubher estern Electric Co. § & heeling Gteel Corp. 81us 1944, 107 ‘Wheeling Steel Corp 4125 1953.. 923 London, pound. Parls, franc. . a 594U 944 94y Postal Te! & C % 7101 101 101 e 4%8'77, 15 100% 1003 100% Waest Pacifie Bou Ryy gem de.. 37 894 894 88k - B P w A A nouncing & number of raids conducted | Sope™ 1 of the Silk Association of erica an- Sinclair O itk e ast seversy daya. §‘w¢fl" f,,..""‘.;m s 4 3 )