Evening Star Newspaper, August 24, 1930, Page 63

sFINANCIAL. CURB SHARES GAIN ONLIGHT TURNOVER Utilties and Industrials Wel : Bought—Setbacks of Minor Character. BY JOHN L. COOLEY, Assoctated Press Pinancial Writer, NEW YORK, August 23.—An upward frend was maintained on the curb market today. with utilities and some of the industrials moderate gains. stocks suffering cnly mlnor mbach 'nu market was extremely quiet -nd the price movement narrow, as lative sctivity ebbed low In the two- Saturday session. Electric Bond & Share, American among active ufimy shares to close under the previous final Noranda Mines was unusually active and finished at 21%, up %. Mead Johnson established another new high for the year at 89%. Translux gained the general trend, were virtually unchanged. Inv-u-nen: and holding companies were generally NEW YORK COTTON Market Rallies Sharply on Cover- ing Operations—Close Is Steady. NEW YORK, August 23 % .—Early declines |.n cotton promoted by private reports of rains in Texas and larger figures than expected were fnl- today by sharp rallies on cover- ber contracts after umng oft to 11.00, rallied to 11.27, with : ctive months generally showing net advances of about 11 to 24 points at the best. ‘The demand tapered off at these fig- ures, however, and part of the mn was lost with the new December clos ing at 11.11. The general market closed steady at net advances of 1 to 7 points. Futures closed very steady, 1 to 7 December, 11.11a1118; January, 11.20a1131 March, 11.37a11.38; May, 11.58a11.59 Spot stea middling, supported thmu’hnut ot Rail Stocks BY GEORGE T. “Gm Ve ; Buch “Intorm Inteluetatly to nfl'%.:“t?mu b PERE MARQUETTE. Since its rmml-mn in 1917 Pere Marquette has had sound elph.l structure, and since m ion of control by the Chesapeake Ohh its securities have commanded a wide in- terest. There are a little over $70,- 000,000 in funded debt outstanding, all the various issues of which are! sound investments and attractive in varying degrees. ‘There are three classes of stock, a prior preferred 5 per cent cumulative, both classes of preferred, an ey sell in the open market mund $100 a share, at which price they are re- deemable to yield 5 per eu:t or a little over Earnings a ble for these pre- ferred shares cover dividend require- ment, by a wide margin, and the entitled to a good investment fi. There is a little over $45,000,000 in common stock outstanding, and on this issue dividends have been paid at vary- ing rates since 1922. The present dis- bursement is $6 annually, plul extras, the latest of which was April 1 last. Thy this year so far have a long time. On the basis the nm six mom.hs of 1930 the $6 dividend would not be covered, but there may be some recovery before |yoe:n end to raise this euumau Car loadings vary with luwmobue duction, inasmuch as mi mowr-m.-tgr':d ing centers. eavy mi nance program is be- ln: carried out, and under the Van weringen guidance the Pere Marquette u in a position to make important prog- ress in normal years. Just now the stock is inactive marketwise, but it has the l::tncuon that a minority issue carries. MOVEMENT OF FOREIGN EXCHANGES IS WATCHED Bpecial Dispatch to The Star. NEW YORK, August 23.—Wall Street is watching closely movements of the franc, pound sterling, milreis and yen, and their relations to money market here. The call money ease tends to the Toad serves increase franc quotations, which may result in another New York to France gold efux following the recent $67.- 000,000 outflow. Decline in London money rates to money levels here tends to check the rise of llzyll.n the pocslblmy of another flow to Paris. The milreis d, adding to its metal reserves. A somewhat firmer tone in yen reflects proximity of flotation here Federal Reserve system ratio. Holdings (United States): Gold reserve Rediscounts Bank clea rings. (Final three clplun omitted m above.) Car loadings week ending August Crude ofl production (barrels).. Stock sales (N. Y. Stock Exchange) . Bond sales (N. Y. Stock Exchange).. New financing. WASHINGTON STOCK EXCHANGE YEAR 1930 (Reported by W B Hibbs & Co.. Hibbs Buliding. Washington. D. ©.) BALES OCCURRING ON THE WASHINGTON INCLUDING FRIDAY, BONDS. TOx. Sales. PUBLIO 425,000 Anacostia & Potomac Riv. R. R. 13t 34,000 Anacostis & Potomac Riv. R. R. gua; 2,800 O. & P. Telephone of Virginia 5s, 1043 ...... 98 102 36,000 Capital Traction 1st s, 1047.. 13,000 Ofty & SBuburban Ry. ist 8s. 1048 13,800 Georgetown Gas Light lst 6s, 1961 76,000 Potomac Electric Power cons. 5s, 1036. 33,800 Potomac Electric Power gen. & ref. 6s. 1963.. 4.000 Washington, Baltimore & Annapolis Ss i941 55, 1060 92,500 Washington Gas Light gen. 148,000 Washington Gas Light series A 65, 79.300 Washington Gas Light series B 6s, $77,500 Washington Railway & Electric cons. 000 District of Columbis Paper Mtg. 1m 7,000 Potomse Joint Mtock Land Bank Ss, 2,000 Washington Cons. Title 8s, 195 1,000 Washington Market Ss, 1938 . PUBLIO UTILITIES. 5,447 Oapital Traction ts 674 Potomsc Electric Power pfd 2310 Potomac Electric Power pfd 1 1,971% Washington Rallway & Elec. pfd. NATIONAL BANKS. 1 Capital 461 Commercial 87 District 324 Federal-American 9 Washington . TRUST COMPANIES. 199 American Security & Trust 184 Continental . 386 Morchants’ Bank & Trus 138 National Maving 76 Union 37 Washingion Loan & Trust BAVINGS BANKS. 80 Bank of Bethesds . 40 East Washington 10 Potomac Savings (new! 4 Becurity Savings & Commercial.. 65 Washington Mechanics FIRE INSURANCE. 332 Piremen's A 268 National Union . TITLE INSURANCE. 87 Columbia 4 : 20 Reai Estate . ... 10 Title & Inv. Co. of Md com MISCELLANEOUS. 80 Barber & Ross, Inc., com. .. 33 Chevy Chase Dairy pfd. . 265 Columbia Band & Gravel pfd. 101 Commercial Nationai Co. pfd. 13 D C Paper Mig Co pfd 187 District National Security pfd. . 85 Emerson’s Bromo-Selizer “A’ 2 Pederal Storage Co. pfd $72 Pederal-American Co. com.. 114 Pederal-American Co. pfd 1,236 Lanston Monotype 4 186 Merchants Transfer & Stg. com. 338 Merchants' Transter & Btg. pfd. 3,968 Mergenthaler 6662 National Mtge. & Inv. Co. pid. 930 Peopies Drug Stores pfd.. 2,730 Real Estate Mige. & Gua: 82 Becurity Storsge 114 Termins) Ref Whg. Corp. 2,180 The Carpel Corp. 520 Washington Mech. Mtge. Co. com. 16% Washingtor Medicas Bide Corp Woodward & Lothrop pfd. of several Japanese usility bond issues. Last week. Same week '20. $3,155,000 $6,085,000 82.0% 15.5% $148,607 2,954,188 986,378 12,120,189 $606,337 2,945,300 190,515 8,826,650 918,335 480,350 11,258,550 $37,378,000 $24,673,000 2% % TO DATE STOCK EXCHANGE FOR 1930 UP TO AND AUGUST 22. ! Oven High. Bs, 1949, [ s, 1949 I3 (] Low. Close. maturity. 83 6.50% 0 1933... 1936, 45, 1951 o, 1037 1934 UNLISTED DEFARTMENT. #5000 Army & Navy Club 8s. 196} 300 Cosmos Club 4'as. 21,000 Metropolitan Club 4'as, 1436 141 Chapin-Backs pfd. .. Munsey Trust ¥ reitivd snoustly BONDS. 3 LI 105% 107 162% 162% 162% % ww T M 12% 124 . ’ THE SUNDAY STAR, WASHINGTON, D. C, WEEK ENDING AHGUS’I‘ 23, 1930 ou This Year. 163,982,780 Total number of shares sold. Same period a vear a 38% 9%, 141 10.2"‘110 16 Ainsworth Mfg (32%).. 3% Alr Inv ine. vte. .. 101 Ala Great Southern(17). 102 108 Alabama Grt 8o pf (7). 8% Allied Mills, lnc(.oo). . 1 Allison Drug Strs A 210 Aluminum Coof Am | 108% Alum Co Am pf (6). 4% 141 % 21 15% 4% 9% 55% 6% 14% 25% 114 44% 93% 35% 14% % 336% . 6% 105’6 965% \09"». 97 Alum Ltd cum pf (6). 6t Amer Austin Car. 3% Am Brit & Cont.. 6 Am Capltal (B). 60% Am Capital pr pf (5%).. 35% AmCit PRL A (a3)..... 12% Am Cit PAL(B) (b10%) 20% Am Colortype (2.40).... 20% Am Cmwith P A(b10%). 34% Am Comwlth Pw B b10% % Am Control 17% Am Cyan B 3 Am Dept Stoi 110 Am Dis Tel, NJ 12% Am Equitie: Am Hard Rub (4). 59 Am Hardware (15). 7% Am Inv. Inc. B 101% Am Pub Ut pt pf (7) 17% AmStPS A (1.60) 20% Am Superpower (1) 94% Am Superpwr 1st pf(6). 87% Am Superpo pf (6). 13 Am Transformer (1. % Am Ut&Gen B vte (40c) 1% Amer Yvette Co. Inc. ... 6 Anchor Post F (b10%).. 15% Anglo-Chilean Nit. 3 AngCoDpfA & Arizona Globe Cop 8% Ark Nat Ga: . 8% Ark Nat Gas A . 5% Asso Elec Ind (30c) 304 Asso Gas & Electric 4 AsSS0G & E debrts. 97 Asso Gas & Elec ctfs(8). 91 AssoG&Epf (5). 1 Asso Laundries........ 2% yon pf % Atlantic Fruit & S % Atlantic Lobos, 15 Alll Plywood Corp..ae. 2% Atlas Utilition (wat) s o+ 5% Austin Mot Co Ltd 2% Auto Mus Inst (A) 8% Auto Vot Machine . 9% Auto Vot'gs Ma ev prpt.. 24% Aviation Corp Am 12% Aviation Credit. . 7% Aviation Securities..... Y36 AxtonFT.A (3.20). 120 24 Bah 6% Bourjols, Ine. 313 Brasil Trac & Lt(h2). 214 Bridgeport Mach (25¢). 6% Brill Corp, A (65¢) 21 Brillo MIg A (2).... 23% Brit-Am To B 98 1-10c, b54% Buckeye Pipe Line (4).. 24% Buffalo, N&ILP pf(1.60) 31% Bulova Wevpf (33%)... 65 Bunker Hill &S (161 2% Burma Corp, rets (131 % Buzsa Clark Ine. 2% Cable Radlo Tub vto. % Cabl & W Ltd. A rots. 9% Campe Corp (2). 18 Carmun & Co A 26% Carnation Co (313) 60 Celanese 1st pf (7%). Cellulotd Corp. . 26% Cent Pub Sve. Del. 25 Cent PubS(A) (aL76).. 19 Cent States El(k40c). .. 4% Centrifugal Pipe (60c). . 4 Chain & Gen Equitie: 2% Chain Stor Development 9% Chain Stores Stock. . 17% Chat Ph Al nv (50c).. 17% Chemical Natl Asso n-v. 106% Childs Co. pf. (7) 24% Cities Service(g3 88 Cities Service pf (6) 11 Cleveland Tractor 1. 9 Cohn&Rosenberserl nc,. % Colombia Syndicate. 3% Colon Ol .. 5% Columbia Ofl & Gas vic. Colum Pict vtc (f1%)... 234 Com'with Edison (8). 3% Comwlith & Sou (war) 11% Comm Wat Servbé%... 12 Cons Dairy Prod (2) 90% Con Gas of Balto (3. IO). 21% Consol Gas Util A(2.20). 7% Consol Gas Util B, v.t.e.. 10 Cons Laundries. . wm Contl Gas & El i Contl Shi Cooper Cooper Copeland Prod Inc A 6 Cord Corp. 19% Corp Secur of Chi ( Corroon & Keynolds. Crn & Rnlds pfA(6) Crocker Wheeler. % Crown Cen Petrol.... 9% Crown Cork Intl A ((1). 30 Crown Cork&S pf(2.70). 78% Crown Zeller pf A (6)... 4 Cuban Cane pr opt war.. 2 CurtissAirprisvie..... 1% Curtiss Wright wa: % Cus! Mex Mining. 1 Davis Drug Stor, . 2% Dayton Afrplane & Eng. 65% Deere & Co (m1.20), ... 214 De Forest Radio. . 16 Deisel W Gilbert (13%4).. 4% Derby Ofl & Refin.... . 4% Detroft Atrcraft Cor.... 4% 3% 14 Dinkler Hotels (2). 14 14 1621 Dixon (J) Crucible (8).. 162%: 162% 8% Doehler Die Casting 8% 12% Douglas Afreraft (76¢). 31 Dres (SR) Mfg.A (3%) 46% dd% 4 Dubllier C& Radio..... 4% 4 140 Duke Power (§15) 159% 157 7 Duquesne Gas Corpw. 9% 2% Durant Motors “ 5% Duval Tex Sul. w.| 25 Bast G & Fuel Asso..... 93% East G & FIAs pe§). ... 18% East Sts Pow B (1)..... 12 Eastern Utll Assocv. T% Eastern Util Inv (A). T Eisler Electric (1%). 70% Elec Bond & Share (bf). 92 Elec Bond&Sh cu pf (5) 1034 EI Bond & Sh of (6)... 19 Elec Pow Asso (1).... 16% Elec Pow Asso A (1), 28 I P& Lopt war... .. 16% Elec SharBholding (11 82 Elec Sharehold pf(a) 6 Empire Corporation. ... 12 ). 16 Emp PubSvc A (al.80). 22% Emplyrs Reins(1%).... % Engineers Goid. .. 12% Europe Elec. Ltd A(60c) 3% Euro Elec, Ltd deb rts. . 1% Evans Wall Lead 10 Ex-Cello Alr & Tr (80¢). 2 Fabrics Finlsh PR 3 Fairehfld Aviation. % Fandango Corp. 3 Fansteel Prod . 10 Federated Capital (80c) 19 Federal C.&W.(11.60). 16% Federal Screw (3). d M % Fiat Stk rti % Film Inspect 11% Finance C Balt A. 305.774.304 Net I++l\+++nl+l+ P S R I B A o 1000+ D1+ sERs"srerrvzs +++ T sesg N R N N AR T IS R =¥577F & R A N R N L 4 F P L4440 D I I B I L e S A ] EERF FEF AL+ 25 rx ¥FF i+ o+ ERERY U o L § s2isfrreseds - - F FE FFeEE we_ ® O e e = e EEF FE PEESFEER EFSEFEFEFEF ¥ EEer 2 ¥ ERFFEIES I o o e £ Frr $FFs¥5F2Fs2 ¥ xys¥Pe sw2 . Btock % Flintkote Florida P & L pf(7). Fokker Afrcraft. Foltis-Fischer Corp. Ford Mot, Can A (11%). Ford Mot, Ltd (37%e).. Foremost D P pf (1.60). Foremost Fabrics Fox TheatersClassA. Franklin Mfg (2) Galena Ol Corp. Garlock Pack (1.20 General Alloys(80c! 4% 3115 Genersl Baking Gen Capital Corp Gen El Ger rets (1. Gen E Ltd rets(50¢) ... Gen Empire Corp (1) Gen Fireproof (12%). Gen Gas&El cv pt B (6). Gen Laundry Machin, Gen Petroleum Corp wi. Gen W W& ELA(2). Glen Alden Coal (8). Globe Underwrite: Gold Coin (new). Golden Center. & Goldfield Ceusolidat. Goldman Sachs T C. Gold Seal Elec new Gorham, Inc. (A) Gotham KnitbacMch. Graymur Corp. Grt A&P Tea n Grt A&P Tea pf (7). Groc Store Prod vte. -dian F As n 4:) % Guenther La Guif ol of P (1 %) Handley Page pf l'lfic) . 2% Helena Rubinstein. Hires (C E) Co A(2) Horn&Hardart(23). Horn&Hardart pf(7) Houston Ofl of Tex: Hudson Bay Min & 8. Humble (2) Hydro EL Sec. Hygrade Food Prod. Imp Oil of Can, n (50c) Imp Ofl Can reg (50¢). Imp Tob, Canada (25¢) Ind Terr Illu Ofl (A) Ind Terr Illu Ofl (B) Insull Util Inv (+b90%) I 0 of No Amer (13 Int! Petroleam (1), Int'l Safe Raz B(t2 0% Internat] Superior (£1) Int Utilities A (3%).... Internatl Utllities (B) . Interstate Equiti Interst Eqcv pf (3). Irving Air Chute (1) Isotta Fraschini 1.06 Italian Superpowr A Ital Superpower wa: Kirkland. Kleinert C Lackawanna Sec (3). Lakey Fdry & Mach. Land Co of Florida Lane Bryant, Ine (2)... Lefcourt Realty (11.85). LefcourtRIty pf(3).. Leh Coal & Nav new 1.40 Libby McNelll & L. . Liberty Dairy Produeu. ) Long Isl cu pf B ( Loulsiana Lan & Ex. MagdalenaSyndicate. MangelStores pf (6% ) Marconi Int Mar (38¢c) Marion Stm Shovel. May Hos cum nf ). McCord Rad (B) (1). Mead-Johnson (18.75). . =¢mpnll Nat GasCo. Mid West Ut A war Middle Wst Ut war (B). Midvale Co (4). Miller & Sons (2) Mining Corp of Can. Mo Kan Pipe L (th*). MissKPLv.te.... Miss River Fuel bd ris.. Moody's 1 8 pt pt (3) Mountain & Guif (8¢) Mountain Prod(1.60) Municipal Servi Nat Amer Co... National Aviaiion. Nat Eroq Power Al Nat Fam St b2 % Nat Fam Strs pf (2).... Nat Food Prod B(b2%). Nat Fuel Gll ) Nat Pub Serv (A) (1.60) Nat Rub Mach (2). Nat Screen Service (. Nat §h Tm Sec(£50c) Nat Su, NJ ). Natl Transit (1). Neht Corp (1.30). Neptune Meter (2)...... Nevada-Calif Electric. Newberry(JJ) (1.10) New Brad Oil (50c) New Eng Pow pf (6) New Haven Clock(t1%) New Jersey Zinc (12%). New Mex&Ariz Lan.... Newmont Mining (£4). Newport Co (2) N Y Auction. .. NY Pwr & L& p! N Y Rio&Bu Alres. . N Y Tel pf (6%). ansit (11. ma El Corp (80c) . randa Mines (2).. Nor Am Aviation A wa: North Am Cement. . North Am Util Sec. ... Nor European Oil Corp. . North & Sou AmCor p A. North Ind Pwr Sve (6).. 1 North Stat Pwr A8) Nor States Pwr pf (6 Novadel Agene (12% ©Ohlo Bell Tel cum pf (7) llfih Ohlo Erass B (6) Ohio Copper. . Ohio Pub Serv pf A (7). lo‘l Ollstocks LtdA(50¢).... 8% Outboard Mot (A). T Outboard Mot B... 3% Pac Fin Corp (1.32) . 22% Pac G & E 18t pf (1%) % Pac Pub Ser (1.30) . Pac Tin Corp spec (2 Parke Davia (+1.56).... Pennroad Corp (20c) Penna Pwr & Lt pt(7 Penna Water & Pwr (3). Peoples L&P (A)(a2.40) Petrol Corp war. Philip Morris Inc, Philip Morris (A). Pilot Radio Tube(A) Pitney i3 Pos n(20c).. Plymouth Of1 (2). . Pond Creek Pocahonta; Powdrell & Alex 141 . Power Securities. .. Power Securitie Premier Gold uuL Prince & White(25¢).,.. Prince& Wi itely pf3. Propper MeCallum. Prudential inv Public Util 1iold Pub Util Hold Corp wi Puget 84 P&L. pf (8) (RN ] 144+ “f1v 1 +4 I 3 ¥ SFRES $r 1+ + » 3 ¥ (BRI IR S NAE 13 A L+ 4+ 4+ + 4440001114 Ti++141) P4l ++100 J++1++14 1+ +44+ 4 +4+++10 #1011 444+ & & (41 1++ 4+ L4 4EEL 440 +44 w2 23 8 e FEEFPFLELS - - @ FEFEFT - ® ¥ RFEFE ¥ F FEER e FEE % e sassdirass & 35 PV & SxFex & #s S AUGUST 24, 1930—PART- SIX. Stock and dividend. Pure Oil pf (8)+ueussren Rallroad Sh Corp(25c).. nbow Lum ProdA. .. Rainbow Lum Prod B Raymond Concrete (4). . Reiter-Foste Reliable Strs (b5%) Reliance Intl (A). Reliance Management. . Repetti Candy & ybarn Co. Bernolfsin Richman Bros ( Richmond Rad cu Roan Antelope Mines. ., R'kland Lt & P (90¢) . Rolls Royce, Am pf. Root Ref-cv pr pf<1.80). Royalty Corp pf (1.20).. Ruberold Co (4)... .. Safety Car H & L(8). Safeway Strs war (5th). Low. Y% Seaboard Utilities (50¢) - Secur Corp Gen(40c)... Seeman Bros (3)... Sel Indust ctfs (4%4) . Sel In 75% prior(5%)... Self Prov St (13¢). .40+ Sentry Saftey Control. . Shattuck Den Min . Shenandoah Corp. Shenandoah Corp pf(a3) Silica Gel ct. . Sing Mfx Ltd rots (23c). Smith (A 0) (2)..... South Penn Ofl(12%). .. So Cal Edis pf (B) (1%) Sou Calif Ed pf(C) (1%) Southw Dairy Prod. So West Gas Util. Spieg-M-Stn pf(6%). Stand Investing DNE%) % Stand Motors. .. Stand Ol of Ind ( Stand Oil of Ky (11.80). Stand Oil of Neb t13%). 4 Stand O1l Ohio(2%). Stand O1l Ohfo p£(7). Stuts M tor Sun Investing. Sun lnvenln: pf (3). Swift & Co new (2) . Switt Internat'l (2%) Syrae W Mch B (1). Tampa Electric (32). ‘Technicolor, Inc 2% Thatcher Sec Cor) FINANCIAL. s"sx FReeess I+ 4110+ 00++ ++1+]1"'++ $ +1 Wlllr I I+ I L Bt Dividend rates 1+4+ 4+ per, cent in stock. 'J Twin StNGApt1). % Ungerlelder Fin Corp. Un N G of Can (11.60 UnionTobacco. . Utd Car Fastnr(60c) Unit Corp war. Unit Dry Dock. Utllity Equittes. Vacuum Ofl (4) Venezuela Petrol Vie Finan Corp(40¢c) w-m& B, A (2) Walker (H) (1). Watson (JW) Co, West Auto Sup A (), West Mass Co (2%). Wheatsworth (1). P White Eagle Oil deb rts. White 8 Mac deb r Will-Low Cafeter}; Worth, Ine, A i U+ 1 4141414 Pt 277 5P EFE Fr2¥ - (b2-35 sh) +41 4+ FH 01+ = - ELFES o EE¥ Bin +++++1+11+ ++1 1+ £y (R 22 BF 558 sanas - n Co war. LI+ 1+ Zonite Products fl) . RIGHTS—EXPIRE. Johnson Motor. Mo Kan Pipe.... So New Eng Tel. annual Bapment. TEartly xiea. TEie s per s apnusl payment. 1Partly extra, e 4 per cent in stock, 1Plus § per cent in stock. § Plus 6 Plus 2 vlr unl in stock. m Plus 3 per cent in stock. n Plus 8 per cent 3% . 1% Insull Ut pf... * % b 8% Oct1 gussterly or semi- able in_stock. nd, Pluy o stock. K Plig. I in per_cent FURTHER DROP IN LIVING COSTS PREDICTED IN NEAR FUTURE Special Dispatch to The Star. NEW YORK, August 23.—A further drop in the cost of living is predicted by the Alexander Hamilton Institute. Although foods and rents promise to hold firm, clothing, house furnishings, fuel and light, and miscellaneous items are likely to be cheaper. The current issue of the institute’s weekly sizes up each division of the household budget as follows: “Retail food prices showed a further decrease in July, but it is probable that this represented practically the bottom of the current decline. The prospect is that retail food es will show a firmer tenden luring the next 12 months. Ref and wholesale food prices move fairly closely together, and wholesale prices are now showing a firmer tendency as the result of the drought. “The cost of clot.hi.n[. which repre- sents on the average 16.6 per cent of llvlnl expenditures, declined 1 per cent the first six months of 1930. ui;ther decline 1s in prospect because ot the present low prices of cotton, wool, silk and rayon. “Rents, which account for 13.4 per cent of the total cost of living, de- clined 1.5 per cent during the first half of the year, Any marked further de- crease in rents in the immediate future is likely to meet with considerable re- sistance as the result of the prolonged curtailment of residential building. “The cost of fuel and light is still relatively high as compared with the cost of food, clothing and rent. During the first six months of 1930 fuel and light prices declined 3.3 per cent on the average. Some further reduction is probable, although the new agree- ment between anthracite operators and miners to continue the previous wage scales is an opposing factor. Fuel and light represent 53 per cent of the average llmflyl total expenditures. “The cost of house furnishings, which account for 5.1 per cent of expendi- | Sprin; tures, declmed t during the first half of 'year, but they are still far out of line with other items in the cost of living. Lack of demand due to the small number of residences to be furnished promises to force further price reductions. “The cost of miscellaneous ftems, which represent 21.4 per cent of the money the average family spends, and whlch includes street clr llru, ‘moving pictures, newr{u ans’ fees, medlcine. tal fees tor wll’dl den- tists’ les, hundry clean- ing lllp uu, r service, tollet arti- cles, telephone rates and tobacco, was the only cost which increased di the first half of 1930. The cost of miscellaneous items is relatively much hfiher than the cost of any factor in S oepibie o dedation egpeclllly suscept! “The prospect is that the total cost of living wfll continue to decline during the coming 12 months, despite the firm position of food and the supporting factors in the rent situation.” STEEL PRODUCTION BELOW JULY MARK Downward Tendency During Au- gust Is Believed Halted, How- ever—Gain Expected. Special Dispatch to The Star. PITTSBURGH, August 23.—So far this month sue! production has ranged 5 to 10 pe: under the July aver- age, but thl! w 'k the downward trend appears to have been arrested, chiefly By Chicago having a few per cent higher rate. In the Pittsburgh district there has been no material change since the end of June, when some plants had got down to rather low rates. Operations are very spotty u to department, struc- tural mllF0 nearly full while strip and wire m are at very low rates. Steel producers are under the impres- ston um the depth of the general de- pression has been reached, and that steel in particular has had a regular | al seasonal dip. In essence, therefore, they have hopes for increased steel de- mand on two lenlrlte counts. No one, however, expects any rush of buying. ‘There remains a disposition to de- nd largely upon “sentiment” and to geld that if business sentiment im- proves there will be more steel business. This is despite the unfortunate show- ing made earlier in the year, when there was a very fair volume of steel buying, afterward attributed largely to sentiment or a feeling that the stock market collapse had’ not done much damage, for it turned out that buyers were quite unable to maintain the pace. One point made in connection with sentiment is that lately there has been a drought scare and that this is wear- ing off, careful study indicating that demand for steel 1 be affected but little if at all by what happened to the crop, including the canning crops. Fabricated structural steel work con- tinues to hold up well, No large line pipe oftlers have been reporled in the last few weeks and it qlnlxemon whether the producers are n well filled as they were three months 'I‘he automobile industry has not done particularly well this month and steel producers cannot see that it will do even as well next month. (Copyright, 1930.) ——e. Older Persons Lead Suicides. BUDAPEST (.—Dr. Laszlo Nanas- sy, one of the chief police officials of Hungary, says that fewer young people are committing suicide, but that self- destruction is increasing among persons over 70 years of age. New Persian Air VI.ine. TEHERAN (#).—Persia and Afghan- hun:nmhwnnecucbymur PRICE REDUCTIONS ASSIST AUTO SALES Benefit From New Schedules Is Expected During Month of September. Spectal Dispatch to The Star. DETROIT, August 23.—Price reduc- tions decreed last week by several auto- mobile manufacturers have stimulated a certain amount of buying, but com- pany executives sponsoring such action say the real effect of it not become apparent until Be})umbe\' One other producer is scheduled to follow suit this week end by listing a newly added body at a lower figure than any car in J;?: particular line has ever been ‘offered. Me-nwhfle part-time operation of lants is being continued and volume being held ri 1dly under national demand. Controlled output is the prospect confronting the makers until snch time as statisticlans are able to ppraise the value of various factors that will affect Fall trade, favorably or otherwise. drought on the crops and whether or not a small group of Mldweltzm States which up to now has been the high spot on the distribution chart will ex- perience a change in present purchasing power. The entire future, of course, is prediclud upon possibility of an Au- l\’fmn upturn that will restore the buy- urge for cars other than the lowest pnced ‘makes, Builders in the middle-priced division, which it is conceded has shown the ln est decrease from the abnormally tive year of 1929, face a twofold wuru by which they may regain volume lost to the cheaper cars. They must either concentrate on a price level at which the models will justify lar volume or they must incos ite novelt and added value to be able to sell lt the lists prevailing for the present year up to now. It would appear “obvious that the low- priced sixes and the eights that are competing with them must undergo either price or construction modification before the actual selling season of 1931 rolls around. (Copyright, 1930.) SCHOOLS MUST REGISTER Institutions in China May Buffer Closure at Failure. NANKING (#).—All private schools in China, whether of pi tory or college grade, must be tered with the ministry of education by the middle of September or suffer closure. ‘This is the gist of an order issued by the Natignalist government. Registration includes data constitut- ing a complete survey of the t; of work en; edl.n.uwellul his- tory of t.he school One is the effect of the | be Washington Produce (Blitter—One-pound prints, 43.44; tub “xgg'a—-flmeq, 32; current receipts, 8. Poultry, alive—Spring broilers, 30; ‘medhim, 26a27; small, 26a35; Leg: horns, 22a34; fowls, helvy 19a2: ‘medium, 1 Leghorn fowls, 12%al brotlers, 31a33; medium and small, 5‘-’5 s 30; fowls, heavy, 23a24; medium, 23a24; - small, 13a15. Jobber-. -druud— & brollers, hea fowls, heavy, 'l Leghorn ’lowh, 15a16; llmb. loins, fresh hams, 25; xruh derl, uuo, mkm ll’iy g 3. i Live stock—Lambs, 9; calves, 9. 5 Fruits—Watermelons, 25a60; _canta- loupes, Rocky Fords, flats, 1.0081.2 Jumbo crates, an, Persian melons, 1.75a2.00; honeyballs, 3.00a4.00; honey- ews, umm. orl-nnl. 6.00a8.50; lgmn uou per 100, 2.00; grapefruit, 8.00. Vegetables—Potatoes, 3.25a3.50; -m potatoes, 7.00; eggplant, 1.50a2.00; eorn. five-clozen * sacks, 2.00; squash, peppers, 1.00a1.25; tomatoes, 100-1 w lima beans, 3.50a4.00; turnips, 2.0 beets, per 100 bunches, 5.0086.00; ca: rots, per 100 bunches, 5.0086.00; cauli~ flower, 2.50; cabbage, Dfl-pound sacks, 2.252,50; peas, Washington State, 3.50 - 84.00; string beans, Colorado, 2.50a3.00. SZECH CITIES ARE DRILLED UNDER MIMIC GAS ATTACK Civilians Called Upon to Utilize . Means of Defense Laid Down by Army General Staff. PRAGUE (#)—Czechoslovakian army authorities are making Lhomu’h prepa- rations for the eventuality of gas at- tacks on a large scale in the next war, whenever it may occur. Flying maneuvers are being held in ° Eastern Bohemia with mimic gas at- tacks on the towns of Pardubitz, Prerau and Koniggratz. During these attacks the civilian population is called upon to utilize the means of defense laid down by the army general staff. ‘The attacks take place at night, when, on signal, all lights in the town must be extinguished. The fire brigades, the gymnastic socleties and the Red Cross branches, all provided with gas masks of the latest pattern, turn out and con- duct civilians to shelter, where they will safe from gas bombs launched from the planes. Uncover Ancient Weapons. MOZAMBIQUE, Portuguese East Af- rica (#).—Archeologists working in the Barwe district have uncovered circular stone walls, arrow and spear heads of copper and iron and other evidences of a civilization of 1,000 years ago. Taiwan, Formosa, now has appro; ymu!z 2,500 miles of auto highways. First Mortgage Money 6% BUILDING LOANS or + IMPROVED PROPERTY Reasonable Rates Prompt Action B. F. SAUL CO. 928 15th St Nat'l 2100 $1 .300 M More than lo be spent for new schools in Zone.