Evening Star Newspaper, August 28, 1930, Page 15

EXCHANGE IS LIGHT.. Utilities Subjected to Profit Taking, but Overcome Losses. ’ . BY JOHN A. CRONE. Bpecial Dispatch to The Star. NEW YORK, August 28.—The Curb Exthange, after “opening irregularly, moved at a slower pace today and dis- Played greater selectivity than xn recent sessions. ‘The leader of the power and light division, Electric Bond & Share, lost more than its slight initial gain on Profit-taking at midday. This was true @lso of American Gas & Electric and American Superpower. Citles Service declined fractionally, typifying the gen- eral trend in oil issues. Betterment in international stocks, & moderate continuation of the strength in utilities and investment trusts and trading corporations and further weak- -ness in the oils, coppers, textiles and chain and department store shares fea- trading. ‘The cheerful tone, of the London market was mirrored there in such is- sues as Hydroelectric Securities, up 2 at the opening; Brazilan Light & Traction, up 13,; Ford Motors, Limited, up %, and other issues enjoying inter- national markets worked slightly higher. Higher-priced utilities, aside from the international group, were the first to move into_higher territory. This group included Commonwealth Edison, North- ern States Power and Duke Power. The arrival here of several British fnvestment trust experts for the purpose of acquiring control of some American trading corporations, coupled with mer- ’er rumors and the generally better feeling’ prevailing towards the securities market, has benefitted in varying de- ges all types of concerns that might classified as investment companies. Selected Industrials prior preferrad, for instance, was up 134, after its recant weak spell. This follows on the heels of improvement in tobacco and various hdustrial shares in which the company is interested. Goldman Sachs on early sales was up, as bank and insurance shares advanced. ‘Weakness in Houston Oil old com- mon shares brought selling into the new ‘when issued stock. Solar Refining, with & drop of 3}4, crashed to a new low for the Contrasting with this move galn of nearly 3 points in ‘Texon Oil & Land, which reached a new peak. Softness in coppers was rather gen- eral, but not pronounced in any single issue, as the trade experts lower red- metal quotations, and traders look for turth. dividend reductions and omis- Texme shares proved vulnerable on moderate offerings. Sidney Blumenthal declined 5% to a record low of 20%. Bhares of hosiery companies also eased despite the hu kage of retall mer- chandise stocks and prospective price advances of raw materials. — tcrl'lltlfll\l’ll Tef,tl‘;on),{l 'h]cleld Bas appeared since July 21, opened un- changed at 20. United States Gypsum was up a point. Dow Chemical ad- vlneed 1Y, points, as American Cyana- B !eil about & point in forenoon CHICAGO STOCK MARKET CHICAGO, August 28—Following is the complete official list of transactions in stocks on the Chicago Stock Ex- change Invest C efferson Eiec. atz Drug eliogs Bwitch 18Ky UL Jr Cu ombby MENeill 0 Lincoln -30 Byerson & 60 3 1 8t Louie Nat 8ik '¥di 3 . 253 § 5 8 35223 Fyuo? SeSoq ) Faeso 275 “0 L) E8e85us3aee pr 3 N s: e Insull Uil 6s "40.. nd shles 104aY—38.000 Corporation Earnings. NEW YORK, which are l‘lmlfl!fl as national ad- yertisers shows that 40 out of 151 have earned more in the first half this year in the mrrespondlnq period of thnunnd wagons were made by four | cm-%n cunmnn-ud than 1929, O(mmwmm.&rm vflu * | pared with July 1929, freight leading g | August 28 (#).—Com- pilation hy Printers’ Ink of the first Note—All stocks are sold in ing those designated shows those stocks to be sold in Stock and Dividend Rate 164 AMliated Proc Inc. .. 182% 101 AR Great Sou (17).. 3 % Allled Aviation. ..., 814 Allied Mills (¢0c). .. 210 Aluminum Co of Am 110 105% Alu Co of Am pf (6). 232 108 Aluminum Co. Ltd. . 99% 97 Alum Ltd cum of (6) T4 64 Amer Austin Car.... 28% 12% Am CP&L(B)(10%) 28%, 204 Am Com I'(A) b10% 37 17% Am Cynam B (1.60). 22 11w Am Equities.. 76% 3% Am For Pwr(war).., 106 AmGas& nln lfl). 2% Am In T 1614 894 4% 1y Am Marieabo,..... 90 Am Pub Ut prpt (7). 0% Am Superpwr (1)... 87% Am Superpwr pf (6) % Am U&Gen B vte 400 8's Appalachian Gas., . 83 Ark Nat Gas (A) 5% Asso Eleo Ind (30¢ ) 8% Asso GRE (A) dbrts Y AtlantieFruit & Sug. 8 Atlas Utll Corp..... 24% Aviation Corp of Am 124 Aviation Credit. Babcox & Wil (19) 2% Bahia Corp. 6% Blue Ridge Cp (40s) . 33% Blue Rid 25% Blumenthal (8) 29% Brazil Trae & Lt(h2) 23% BritAmTo 2% Brit Ceianese rets. .. 54% Buckeye P L (4) 81% Bulovaov pf (3%4).. 39 'Burco, Inc, cv pf (3) 14 Cable&Wire (B) rcts 3% Canada Marconi % Carib Syndicate. ... 25 Cent P8 (A) (a1.75) 25% Cent Pub Sve. Del... 19 Cent States El(k40c) 4% Centrifug Pipe(60e) 21 Chain Sto 9% Chain Stor 17% Chat Ph Al nv (50¢), 17% Chem Nat Asso n-v. 106% Childs Co pt (7). . 241 Citles Service(g30c) 187 82 CitSveBBDf (6).... 2 5% Col Ol & Gas vte.... L 24 Columbia Pict (f1%4) L 81 Colum Pict vta (f1% 2 234 Com’with Edison(8) 10s 814 Com'with & Sou war 47 11% Comm Wat Serv b6 % % Comstock Tunnel. ... 1 Consol Auto Merch 8% Consol Copper...... 12 Cons Dairy Prod (2) 10 Consol Laundries. .. 5 Copeland Prod,Ine A 6 Cord Corp £% Creole Pe m.. 15 Crocker Wheeler. . 81% Cross & Black (33%). 9% Crown Cork IrtlA(1) 4 Cuban Cane propt w 1% Curtiss Wright war. % Cusi Mex Mining. . 2% Dayton Air & Eng. €64 Deere & Co (m1.20). 24 De Forest Radio. ... 3% Detroit Alreraft.... 10 Dixie Gas&Utilit! 68 Dow Chemical (2)... 60 Draper Corp (16).... 31 Dresser(SR) A(3%) 140 Duke Power (jt5)...100 7 Duquesne Gas Cp w.i 2% Durant Motors. . 26w lh-na G&F Anso. 18% Ea. WO LR BB R IOR A= 0o P » P L L L LR IS 8% Eaat Ut Asen (2) Ul % Uul Inv (A).. T4 Eisler Eelectrie(134) 70% EI Bond & 8b (bS). 1034 EI Bond & Sh of ( 92% EIl Bond&Sha cu pf(6 16 Emp P'Ser A (al.80). 22% Employ Reins(1%). 12% Europ EL Ltd A(60c) 114 Evans Wallow Lead 10 Ex-Cello Alr&T(80¢) Fininshing. 28 Serew (3), 13% Fokker Alreraft. ... 28 Ford Mot, Can A t1% I:M Ford Mor.L.td 37 2% Foundation For Shs. 24 Fox Theater Cl (A). 6% Gen Alloys (80e) 2% General Baking 27 Gen.Baking pf (3).. 10% Gen E, Ltd rcta(50c) % Gen Laundry Mach. 21 Gleaner Harv.n (2). 9 Globs Underwriters. 2% 5old Coin (new). 1% Gold Seal Eles 2% Golden Center. % Goldfield Consol. 15'¢ Goldman Sach TC... 29 Graymur Corp.. 180 GrA&PTn-v(5) 28 Guard Fire Asso(2). 115% Gulf Ol of Prt1% ). 8% Hall Lamp (1%))... 23 Handley Pag pt 11 8% Hecia Mining (1). 2415 Hires (C E) (A)(2 —— e RN AR D B® B D~ e~ 2 . e Rnn—m one~S Humble Ot 2). 21% Hydro ElecSeo (2).. 8% Hygrade Food Prod. 18% Imp Ol of Can (60c). 26% Ind Terr illu ULl 1A) Ind #in etfs(010% ). “ Intercontinent Pet n 4% Int Holdg&Irv 10e. . E xR annSnBoane 6% Interstate Hose Mills b7 e letier 2 (380) 0dd lots only, lu-— Add 00. Open High. hundred-share lots (2508) Low Close 20 100 8 288 120% [ 2% 9 aw 17% 37% 20% 6l ™ le T T 3 % # % Kerr Lake i Kolster.Br (Am Sh) 13% Lefcourt Real(11.35) 11 Leonard Oll.. 20 Liberty Dairy Food. 124 Loew's, inc, deb rts. 3% Loew's. Lne (war) 34% Lone Star Gas. n (1). 2 Louisjans Lan & Ex. 18% Mfg Finance v.te... tor 22 Mid WSta Ut (1%).. 26% Mid Wt Ut (b8% ). 34 Mid Wst Utll B war. 13% Midland N Gas (A).. 164 Mid Roylty ev pfi2). Midland Unit (06%) Mo Kan P L (b10%). Miss KPLvite.... Mount Pred(1.60) Nachman Spring. 6 Nau Amer Co . 84 Natl Aviation 8 tB & 8h cp 50c... t Fam 8t b214%. . Natl Investors. 1004 Natl Pwr&Lt pf (6) 9 Rub Mach (2). 12 NatSh Tm Ses(f50c) 16% Nehi Corp (1.30).... 60 Nevada Cal Elec. ... 10 22 1% 1 » 1 7 11 ¥ 4 14 130 Received by Private Wire Direct to The Star Office Sales— Diviaend Hate. A4 00. Open. i Irvi) T% Italt N Y Rio&B 113% N T Tel pf (63%)....1008 15% Niag.-H. Power (40c) 3 Niag.-H. Pwr A war. 254 Niles-Bem=P (123). 1 Nipissing (30¢)..... 2014 Noranda Mines (2).. 2 NoAm Aviat A war. Nor&Sou Am Corp A Nor Sta Pwr A(8) ... 961 North St pwr pf(6). % Ohlo Copper T4 Oilstocks LtdA (50e) 264 Pac GRE 15t pf (1%) 237 Pac Pub Sve 31“) . 121 Paoc W # Pande: 1% Pantepec Of 10'% Pennroad Corp ) Penn Mex Fuel (2).. 25'4 Peoples L&P, A 22.40 % Philip Morris, Ine. T% Plerce Gov (1%). 4% Pilot Radio Tube( Pitney B P, n (20¢).. Power Securities pf. 8% Prince & White(25c) 12% Prudential Invest... Pub Utll Holdw w. . 3% Pub Utll Hold war. . 981 Puget 8a P&L pf (§) 93w Pure Oll pf (§)...... Rainbow Lu Prod A. 2% Rainbow Lu Prod B.. 1:% Rellable Stra(bs% ). 26% Rike K 4 St Anthony Gold. 18% St Regis Paper (1 81 Salt Creek Prod (2. 14% Saxet Co 2% Schuite Un ln—ll St. 5% Seaboard Util ('loe). 17 38 15 6 54% Belect Ind pr(b%) 2 Sentry Safety Con 4% Shattuck Den Min 814 Shenandoah Cor; Shenan Coro pf 37% Sing Mfg Ltd (23¢) 16% Sisto Finance Corp. 1374 Smith (A O) (2) 13% Solar Refining South Penn Of] 33 ( ) 44 Stand Oil, Neb.(t3% 75% Stand O1l. Ohte(2%) Std Pub Sve A(b8%) Starrett Corp vt (3). 10 30 Swift Internatl(214) 541 Tampa Eleotrio (33) 24% Technicolor. Ine. ... 8% Texon Oil & Ld(25¢) 44% Todd Shipyard (¢) 5% Tran Con Air Tra 4% Trans Lux DL P 5% Triplex Batety G! 6% Tubsize Chatel (B). 11% TwinStNGApt1). Air Chute (1) Superpwr A 13 B e®maDu— Ve nann ~D o » Mo e &S e u Alres. . (2.20). - © E -3V JUTUPNUPY TN - PI0 - ST e e oper @ 2 21% .Ungerlelder F Cor 25 30 124 4 Un N G of Can (11, United Chem pf (3).. United Corp ( Unitt Dry Dock: Yoo % Unit El 8ve pr wa 15% Unit Found (b2- United Gas Co (new) United Gas (war)... 12 5 h 91% United Gaspt (7)... 27% Utd Lt & Pwr A(1).. 80 Unit Lt&Pwr(B) (1) 97% Utd Lt & Pwr pf(8). 107 16% 14% Utllity Pwr&Lt(a: 12% Utility & Ind..... 20% Utll & Ind pf (1%).. um Ofl (4).. Venezueld Petrolm. . B4 Walker (H) (1) 8% Wayne Pump. Wil-Low Cafeteria.. 8% Zonite Products (1). RIGHTS. 1% Insull Util.. & Insull Uln Dividend rates in doll anual payment. 6% V: 2 U S Elec Pwr ww. U 8 Foll (B) (1) s Unit of trading a Pay | 4% in stock. ‘Adistment dividen Pl us 1% in stock. 1 Bl in stock. n Plus 8% in stock 14 23% 9% 2% 814 11 L) Expire. .Sept 15 1% ep 15 #* based on last quarterly or semi- than 100 shares. 1Partly extra Pius or stock in e in Siock. 0% 'fn Stock m Pras 1% t Bhus 5% tock 1us 3% 1 stock. 'k Plus B. & 0. NET DECREASES $1,529,868 IN MONTH Special Dispatch to The Stér. BALTIMORE, August 28-—Net op- erating railway income of the Balti-| | more & Ohio Railroad for July showed the largest decrease for any month 80 | far this year, the detline compared | with July, 1929, being $1,529,868, and | nearly $500,000 less than the previous | month this year. All operating revenues | for the month showed a decline com- | with $2,951,198, while mail revenue was second with a decline of $1,332,489, which was the largest decrease in maii | | revenues for any single month this | Yyear, | Total rallway operating revenues !nrf the month amounted to $17,308,765, | | compared with $22.162,117 in July, 1929, A decrease of $4,055,352, This was ufl | lfl. to some extent by econcm: rating expenses, which totaled § B5.341. "a decrease of 55.036010 com- | pared with July, 1920, Net operating | | income after deductions for railway rent | equipment _ rents, totaled | $3,649,079, against 35,176,047 in the cor- responding month last year. For the nven-month period ending July !1 the ! uno opunfln‘ 3. 0, compared with uu M'l 089 for the COITespO! dhx‘r riod in 1929, -doernnotfl'l'l 1 Net revenue from rallway operating income for the period was mmm, a decrease of $7,412,323 from last year, | Littie Miam{ Regula; Company. Am Hardware.. Rate. 51 31 Am States P Srv A.40c Am Tobacco Bf...51.60 Belding Corti pf..$1.78 Campbell (AS) Co pf.$4 Can Cement pf.51.62% ¢ & 75 Dneh Die dust v ¥1ige 37 pf. 135 Featner’ Ry AT Gen Alioys ine Gen Rosal Pla’k G Greater Loutsvilie Sav & Bide As 13,50 LN Hnnnlu Plln( llflll Tfl!‘ Tnter Sitver bf. X Gy AL b % n % cial (‘lumlnlum 500 & atd. ...§1.10 McClatchy Newspaper »! 31 w-rck r‘nrD Elec Newport while net railvay ' operating incomé after deductions totaled $21371,934, a decrease of $6,297853 ccmpared With ! net operating incorge for the first seven | months of 1929. ‘Wagon Production Decreases. ST, LOUIS, August 28 (#).—Seven | t. Louls factories @ decrease moo""' Trom by pro- | so | sprl 3113 Suentne (P & ‘o 1856 U 8 Leather Pr pt 1118 ‘er Foun & { cons Laundries. .. Initial. Oan W & Cable B,43%c @ Dec. 15 - Nov. 30 o nnl! 002 Xo0000 nongonono r. Pe- riod oo!o £ODDDODDODROOODO LOO ? DIVIDENDS DECLARED NEW YORK, August 28 ().— 55 webe BB 08 = CHICAGO LIVE STOCK MARKET CHICAGO, August 28 (#).—(United States Department of Agriculture)— Hogs—Receipts, 22,000 head, includl.ns 3,000 directs; slow; lighter weights an butchers mostly 1035 lower; sows, weak to 15 lower; top, 11.4 ulk, desirable 170-220 pounda 11.25a11.40. good and choice, 140-160 P . 10.25a11.35; lightweight, 160~ 200 pounds, 11.10a11 medium weight, | 200-250 pounds, al1140; heavy- weight, 250-350 pounds, 1G00a11.10. Packing sows—Medium and good, 275- 500 pounds, 8.1589.25. Slaughter pigs— | Good and choice, 100-130 pounds, 8.75a 10.15. Cattle—Receipts, 9,500 head; calves, 3,000; strictly choice steers and yearlings others, 25 and more lower on a 9| very slow market; 12.35 paid for weighty , little steers and long yearlings, but ver{: sharing done on lower grades; she stock steer decline. Slaughter cattle and vealers—Steers, ' good and choice, 600a900 pounds, 10.25a 12.44 $00-1,100 pounds, 10.25a12.50; 1,1 300 pounds, 10.50a12. 1,300~ 1,500 pounds, 10.50a12.50; common and medium, 600-1,300 pounds, 6.75a12.00: heifers, good and choice, 5508850 pounds, 10.25a12.00; common and medium, 6.25a 10.25. T Cows, good and cholce, 5.75a8.00; | common and medium, 4.7585.75; low cutter ll!fl c\lmr. 37584.75. e | ‘m“'fr. cumr 0 m\lm. éel.mlb ll 00!12 50. common, X !teder cattle, steers, good and choice, 500-1,050 pounds, 7.00a8.75; commen and medium, 6.00a7.25. Sheep, 17,000 head; steady to weak: fat lambs, tending slightly lower] bulk, | desirable natives, 7.75a9.00: few, 9.25: bucks, out at mostly 7.75a8.25; throw- sl outs, 5.50a6.25; rangers unsold. Artenumn corn crop h 30 lAr ’%& USE OF ELECTRIC =| POWERIS DOUBLED Per Capita Consumption Has Grown Rapidly Last Ten Years. By the Associated Press. On the basis of the 1930 census, F. E. Bonner, executive secretary of the Power Commission, reported today that the per capita consumption of electric power in the United States had more than doubled in the past decade. For the country as a whole the per capita use increased from 391 kilowatt hours in 1920, to 800 kilowatt hours in 1930. The Northwest and Pacific Coast States were the largest consumers in provortion to populat] Montana, with a per capita use of 2,823 kilowatt hours a vear, was shown far in the Jead. with California, Wash- ington, and Utah following with per capita uses of 1,585 1570 and 1549 kilowatt hours, respectively, New York and North Carolina with 1,165 and 1040 rupectlvely, led in the East. he Western States wlth i per mpl most of from water mm which u:amu- the -ummm of low cost sources has been & power,” the port said. wer,” Te] POTIt 18 ot inerest to’ note,” it con- tinued, “that while the Pacific and Rocky Mountain regions have increased their per capita use only ,about 50 per cent during the decade, in nearly every other section the per capita consump- tion has practically doubled.” The greater rate of increase in the other areas was ascribed largely to economies to overcome the disadvan- tage of less favorable water power res sources. For the statistically-minded Bonner polnud out that one man alone might roduce 200 kilowatt hours of energy & year of 8-hour days. If 800 kilo- wltb mm of electricity at present are each person in the United |ta: sum. it was explained, each mn. woman and child in the country had four electrical men worktnl for every day in the year, BONDS ON THE CURB MARKE' DOMESTIC BONDS. High. 156. 104 *68. 103% 103 84 Sales in Pow 58 Pow 58 3838233 FEEEE atineau Pow. s. i e Py ;! o P matna—ae-tuioS twesane - EEEE aH 0t XROOO! £ A - 55 55 e I 5 g53; - 33sCansETssiadE ; ¥ EXZEERELT S5 =3 EEORa P B ssisoa Bl Sl ot o 10000!21?!52212!212 Er i 3 33! FIREFRESES B ARFTSSas s S, H 2523233223323338; 3‘8883!3:382— 3302 £ o> >3 0200 o “u S ek - T FEEE NS ORNE 5 Ml a2 T S & E = sSoaes RN s28s553s8nanTesaiius i3 S TEE 2030 wi Wes Tex Ut 85 A 18 FOREIGN BONDS. Bank 7s 47 18 on_Mn 7s ‘31 983 E 6 '35 wl 4 A s3mzssazsanases! FEE 22zanz2aEeEs B FEEEEF AT =232383: & EEE promoting _liberal uu’“s fipectsl STOCK AND BOND By the Associated Press. From Yesterdax's 5:30 Eaition. *New 1930 high. (Copyright, 1930, Standard Btatistics Co.) AVERAGES TREASURY IS CONCENTRATING ON CANCELLATION OF DEBTS | gaiied BY PRESTON S. KRECKER. Dispatch to The Star. NEW YORK, August 28. —Onc of the repercussions of the general interesting decline in interest rates to the lowest level in ynn has been to force the United States Treasury Department vir- flll" to abandon purchases of its se- ties through use of the sinking fund, nnd to adopt & new method of applying that fund for debt cancellations. ‘The indications are that the Govern- ment will elect to call one of its note issues for redemption in March and ap- plying the sinking fund to part payment of such redemptions, instead of using it to_make o%en market purchases. Duan‘ the early part of this year the easury was quite active in open mat kct sinking fund purchuu of its out- issues. Those purchases, it | ‘P nding was learned today, converged on United States Treasury 3}, per cent notes, series “A,” due on March 15, 1932, but redeemable on any interest date on or nfter March 15, 1930, upon six months' notice. These purchases between De- cember 31, 1929, and Augus! reached the substantial nmount of $283,- 000,000. The original amount of the issue was $1,360,486,450. The amount . | outstanding is only $649,000,000. Notes at Premium. ‘The notes are now selling at a pre- mium, & fact which renders purchase in the open market through the sink- ing fund a rather expensive opera A more economical method would be accumulate funds and retire securities available for call through outright re- aamp'.lnn at par. That is what the Treasury is understood to have decided to do. Its purchases of its securities through sinking fund opantmm are understood to lun totaled only $25,- 000,000 from July 1, the beginning of the new fiscal year, to August 22 last. ‘That is but 25 cent of the amount retired during corresponding period dlmym&m‘hmmw- Auu(orndmmonofomnfuv- eral issues of notes is expected cm sm; tember 15, which would be six monf in advance of the nearest redemption date: In addition to. series *A". 31% per cent notes, series “B” and series “C" are available for call, Which one will be called is anybody's guess. The probabllity of retirement of a portion of the short-term debt of the Government has given rise to rumors that a huge refunding operation is lg”::i.g and fch;\c’ mmu%;e will be made ers of Four Tty 4 cent bonds. e There appears to be no foundation for belief that such an operation is contemplated. It 15 not considered feasible to make an offer of new se- ties to holders of those bonds of which $6,250,000,000 par value are out- 5, standing, because of the premium of about 3 per cent which the bonds now command. Treasury Policy. ‘The policy of the Treasury is under- stood to be to limit maturities of new bond issues to 10 years. It could re- fund & portion of the Liberties by put- ting out a 15-year bond, but the view is understood to be held in Washington that a long-term bond issue might interfere with debt extinguishment plans at some future date. Therefore, holders of the Liberty bonds seem to have the last word in any refunding plans the Government ml‘ht put forward. Eventually, h(]:lwever. L] that one of the smaller Liberty bond issues may be called for redemption. ‘There are only about $550,000,000 of first Liberty 43s outstanding. They will be callable in 1932 when retire- ment could easily be financied through & short-term note issue. (Copyright, 1930.) 7 GRAIN MARKET CHICAGO, August 28 (#)—With Canadian country marketings of wheat totaling 3,207,000 bushels for 24 hours, against 1,620,000 bushels a year ago, s | periods is given: ol wheat today again outdid the season’s bottom price record. Crop reports sug- gested that the yleld of domestic Spring wheat is larger than had been looked for. Minneapolls stocks of wheat in- creased 1,625,000 bushels for five dm and Duluth increased 2,423,000 bushel in four days. Wheat, however, rallied at the last in sympathy with corn strength, and closed unsettled at the same as yester- day’s finish % cent higher. Corn closed firm, 34a1% cents up; oats, un- changed to 12 cents advanced, and pro- visions unchanged to 7 cents off. - % | copper refinery be located in the Mid- | s |that it would be more ldnnunous wxou:uui PRICES. By the Associated Press. General prices continued last to Show a downward trend as their change was calculated by Census Bu- reau records. Figures which follow % |give the index for the week and com- parable periods, based on representing 1926 average wholesale selling prices a5 100. In addition, selling prices for s composite ton of steel products at like L call ommodities. 8. 8384 Bame week last ye: 97.0 |on non-ferrrous metals before the In- ly spparent i | factor which would prevent uniform MINE INTERESTS OPPOSE RATE STRUCTURE CHANGE By the Associated Press. Mining interests, opposing any dis- turbance of the present rate structure terstate Commerce Commission, said & change in the schedule might force abandonment of a refinery at Omaha and a smelter at El Paso. It also was contended the rates on Western bul- lion should not be advanced. though it was said there are no economic or commercial conditions which would make it necessary that copper and lead have the same rate, the interests asserted there are trans- portation conditions justifying it. The Presenz uniform rates on copper and lead bullion were upheld on the ground that they have identical transportation characteristics. The onl, rates would be that of the price or the | value of the products. ; When suggestion was made that a dle West, a witness stated that a re- finery should be near the source of the orc as long as there is an equality in the rates on refined copper and copper bullion. If a higher rate should be laced on refined copper than on the ullion, it was held, it might be de- sirable to establish a refinery in the Middle West. The statement was made to have a refinery at Chicago than on the Atlantic seaboard. The Easternre- fineries were established because oonmr originally was discovered in Conns cut and the consumption first eonnn!d to New England. Consumption is mov- ing Westward and it was said to be economical to supply that urntory from a refinery at Chicago, al plant near a smelter would have me advantage. / Butter Trust f.r Russia. MOSCOW, August 28 (#).—Organisa- tion of a butter trust with 10,000 cows this year and 70,000 next is a new measure adopted by the central com- 2 mittee. NEW YO 28 (). —S8tocks ph at neord low. irregu- lll' issues fluctuate narrowly as demand g:nmtn dull trading. llen vy ehsnm udnnce Oot- . amcdy '.ude;uumn higher; nrmot m-rkdl. CHICAGO, August 38 (P).—Wheat steady; bullish European requirements. Corn firm; unfavorsble Iowa and In- dil,nl repom Cattle to lower. NEW YORK COTTON NEW YORK, August 28 (P.—Trad. ith. After selling off to 11.31 under the early pressure, new October rallied to 11.45 or 3 points net higher, lost part of the gain with the active months rul- ing about 4 to 7 points net lower around 2 o'clock. ABRHEERES T NEW SECURITIES NEW YORK, August 28 money renéwed at 2 per cent y and in good supply, with little or mo lmflc-uon of pre-holiday or month end firming. Time money was inactive and un- changed. Commercial ~paper was steady and unchanged, with best names quoted at 3 to 3! per cent. Bankers' acceptances were steady, with asking rates unchmred HETAL mxr.'r. NEW YORK, August 28 (#).—Copper i __electrolytic, spot and future, 11. Iron quiet; unchanged. spot and nearby, 30.35; future, I‘.nd teady; New York, East 8pof an ture, 4.30, Antimony, 7.75. . ~-Call firm; 30.7! The London County Council street car lines made a pmn{ of lmooo last year. The Trade Mark A TRUE POSTURE “WORK” CHAIR Sit correctly and comfortably and you double your c-plmy for work without sapping your energy. The Sturgis Posture Chair is the perfect chair for typists and clerks who are sitting most of the time. It fits the form. It is ad- justable to the position that af- fords comfort, in 30 seconds without tools—and changed as easily when required. Finish—Dupont Duco in ma- hogany, walnut, black and olive green, Upholstery—Spanish blus, oot Sle 0 g T Construction — Steel malleable iron. 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