Evening Star Newspaper, September 7, 1930, Page 67

FINANCIAL UTILITIES FEATURE - AGTIVITY ON CURB List Displays Firm Tone De- spite Intervals of Profit Taking. BY JOHN J. COOLEY, | ' Asscclated Press Finaneial Writer, NEW YORK, September 6.—A mild Bullish demcnstration in the utilities stimulated activity on the curb market Soday, but failed to exert much of an influence on prices. Gains in the power and light holding company group were general, although mostly frac- tional. The market's better tone prompted week-end covering which ex- tended to some of the oils and spe- eialties. Electric Bond & Share turned over in some volume, and rallied about 2 ints to just above 84, thereby recover- :g its losses during the earlier part of the week. Stocks like American Super- power, Brazilian Traction, United ‘A" Utllities Power & Light and American Light & averaged half a point higher net, while American Gas & Electric and Consolidated Gas ©f Baltimore advanced 1. The market opened firm and then exhibited a disposition to rise. Realiz- ing on the Priday rally set in around the end of the first hour and prices re- acted, but the advance was soon re- sumed and continued through to the close. Cosden Oil showed early weakness, breaking to the new low of 29 but re- covered 2 points on covering and | finished a point higher. Cities Service ‘was noticeably firm. Humble improved. American Cynamid “B” was an active feature and easily overcame an terval of profit-taking. Fox Theaters A" eased. Newmopt Mining was up a point. n'x’he investment company shares were | rm. AUTO PRODUCTION PICK-UP IS RECORDED, ugust Reports Show Nearly All| Producers Resumed Operations, Special Dispatch to The Star. DETROIT, September ugust as & production month for the automobile factories showed somewhat better than | had been hoped for. One reason for the | showing was that most of the vacation periods happened to be concentrated in July, particularly in the final two weeks of that month. August found nearly all the producers getting back to work on a part-time basis, which is being continued through September. What the September showing may be Is a matter of doubt, because volume is still being held to rigid limits, defl; pitely below trade requirements. This is being done as a matter of precaution, conforming to sound busi- ness judgment. Still adhering to the policy of controlled output forced by delayed buying, plant managers are keeping operations well within the scope of gross national sales as shown by forecasts based on monthly surveys. This is apparent in the plan Ford is following since work was resumed in July. His manufacturing is being held to four days each week, and as to fur- ther revision of schedules, either up or down, officlals are noncommittal. ‘When delayed buying overflows the E:b—up point that it must soon reach, | low-priced cars will feel the stimu- lus first, in the belief of executives. Pointing to this conclusion, they argue that the average man’'s use of automo- biles and commercial cars has under- gone s tremendous increase since the | ts experienced their last dull period 1920 and 1821, ines alone as required to keep distri- bution going. In this manner cost of Onflucn is reduced to a minimum ‘while output is being sustained. (Copyright, 1030.) AR il GRANT'S SALES UP. NEW YORK, September 6 (Special). =~The W. T. Grant Co. reports sales of 85,384,603 for the month of August @as compared with $5,065,529 for the corresponding month in 1929. This is &n increase of $319,074 or 6.29 per cent. Sales for the eight months of the cur- By the Associated Press. NEW YORK, September 6.—Definite signs of improved electrical equipment buying by industrial concerns were visible in the eastern district during the past week, but utility business is still at a Jow ebb and transactions else- where continue below last year, Elec- trical World reports. Extremely dark tones of the “off- black” family are an outstanding fea- ture of the supplementary Winter color card issued by the Textile Color Card Association. Four of the eight colors shown on the card are cert fonce, a fashionable dark green; black currant, . a raisin shade; indelible blue and purple | | ink, Although there was a reduced number of buyers of boys’ wear in the New York market during the past week, due to the fact that most of thom were en- gaged in sales promotion, malil orders gained substantially. Boys' four-piece knicker suits were bought in good volume, Interest was also accorded to leather and leatherette windbreakers and lumberjacks. OILPOSITIONNOW | STRONGEST INYEAR Production at Low Point, While Stocks Are Being Steadily Reduced. Special Dispatch to The Star. NEW YORK, September 6.—The statistical position of the oil industry, for the moment, at least, is in the most healthy state attained this year. Pro- duction of crude is currently at the| lowest point reached since 1928, and with proration in all active territories throughout the country, stocks of crude petroleum are being moderately re- duced, says the Standard Statistics Co. in current survey, which follows in In the refining division, also, throughout of crude oil has been quite universally cut, and heavy withdrawals from gasoline storage are under way. While the dangers surrounding the voluntary nature of production control are still present, the majority opinion in the industry points to continued ade- quate restriction during the near future. Success in the crude division, in our judgment, hinges around present at- tempts in Texas. “Despite this more promising situa- tion, brought about by the balancing of supply with demand, reflection in ai improved price structure has been en- tirely lacking. In fact, gasoline quota- tions have been under constant pres- sure, and current levels are well below both the high for 1930 and prices pre- vailing a year ago. Under these ad- verse conditions, profit margins, par- ticularly in the refining and marketing fields, are extremely narrow. It is be- coming increasingly apparent that earn- ings of the great majority of oil com- panies for the full year will be dis- tinctly disappointing.” PIGEON ARRIVES LATE WITH VALUED DOCUMENT Weary and Bedraggled New York Bird Apparently Had Been Down on 90-Mile Trip. By the Associated Press. NEW YORK, September 6.—Weary and bedraggled and more than 36 hours late, but with his message intact, Bobby Jones, pedigreed carrier pigeon, arrived at his home loft yesterday on a 90-mile flight from Camden, N. J. Bobby Jones was released. -Wednesday with an application for a $20,000 surety bond attached to his leg. The bird’s feathers were smeared with oil, indicating, Frank J. Weins, its own- er, said, that it had been forced down on ofl-covered water. ARREST ALLEGED “RED” Budapest Police Find Propaganda in Prominent Manager's Home. BUDABEST, Hungary, September 6 (#)—A sensation was created hers yes- terday by the arrest of Paul Foeldes, general manager of the National Textile ‘Work of Manfred Wiens, Island of Cse- pel, charged with being a leader of Communists and principal organizer of the Communist demonstration arranged for today. rent year were $40,208,376 as compared ‘with $36,460,866 for the like period in | 1929, and represents an increase of $3,- 747,510 or 10.27 per cent. WEEKLY FINANCIAL HIGH LIGHTS By the Assoclated Press. Brokers' loans . Federal Reserve system ratio. . Holdings (United States): Securities . Gold reservi Rediscounts Bank clearings. (Final three cipi Car loadings week ending August 23 Crude oil production (barrels). . Btock sales (N. Y. Stock Exchange). Bond sales (N. Y. Stock Exchange). New financing . Call money rate. Time money rate. ercial paper. HOW IS B Foeldes is wealthy and prominent. Police said they found large quantities of pamphlets and other Communist propaganda in his residence. Last week. Same week '29. $3,102,000 $6,354,000 81.9% 173.2% ‘This week. $3,110,000 80.8% $604,044 $148,980 2,943,368 1,406,016 10,903,750 1,143,966 2,973,450 19,818,780 $41,777,000 $62,683,000 97, 0 8%-9% 6%4% $601,913 2,955,932 193,275 7,208,603 922,823 $52,159,000 2-2% % 214-3Y,% 3-3%% $70,093,000 2, 2-3Y 4% 3% USINESS? Showing Current Business Activity Compared With Same Week Last Year. [ Jee] oo JovTomcl s sl T untry Indicated by bank del e the corresponding ACTIVITY BY FEDERAL RESERVE DISTRICTS. 4_with ¢} e _week s _v . re New York | Philadelohis r Richmond —18.7% | LEADING BAROMETERS. Showing trend of important factors. Business in dollars (checks cashed) Employment (Department of Labor) Wages (Department of Labor) Cost of L a8 “h ) prices ( pl. Al ural es M‘Mnmn‘ -t. (car loadings) .. Retall trade ( Reserve Boar ‘Wholesale trade (F¢ Failures (Dun’s) .. Bond prices (Annalist) . Stock prices (Annalist) Stock market Present trend. Downware Downwa Downward Downward Upward Downward Upward Downward Downward Upward Upward Upward Upward Total Same period a year ago — High. 18% 23% 91k 104% an 5 % 3 15% 18 356 994 14% 237 " 16% 16% 814 109 27% 3% 8 51% 463 50% 80 18% 157 116 33 30% 15! 25 27% 184% 17% 40% 44% 93% % 8% 21 54% 335% 6% 19% 5 19 136% 16 240 5% UT% 95%, 109% 39 17% 2% Fox 930—. Low. ‘WEEK ENDING SEPTEMBER 6, 1930. Last Week “This Year. number of shares sold. Stock 5% Aero Su 10 Aero Underwrit, 3% Air Inv Inc. vte.. 100 Alabama Power pf 1 Alexander indust. . 3% Alleghany Corp war. a4 4 Allegheny Gas Corp. W% 4w % Allied Aviation...... N % Allied Mills, Inc(60c) 8 8% Allied Motor Indus. . 5 9 Aluminum Co of Am. ... 239 231 . 110 109% 97 3% Amer Austin Car. 26 Am. Bakeries, A(3) 3% Am Brit & Cont. . 71 Am Br Bo El Fd Sha. ... 22 Amer Capital A(t13%) .+ 6 Am Capital (B).. . 30 Am Capital pt (3) 60 Am Cigar Co... 35% AmCit P&L A (83)..... 124 Am Cit P&L(B) (b10%) 2044 Am Colortype (2.40).... 20% Am Emwith P A(b10%). 34% Am Comwlth Pw B b10% Am Cynamid (A)(1.60).. 0) Higd ] ™% Th 12% 12 4 4 103 103 1 1 7% Am Inv, Inc, B. 2% Am Inv, Inc, war. 50 Am Laundry Mach ( 52% Am Lt & Trac (2%) 29% Am Maize Products 1% Am Mar: fbo 7% Am Natural G 27 Am Potash & 90 Am Pub Ut pr pf (1) 204 Am Superpower (1) 94% Am Superpwr 1st pf 3 Am Thread pf (26c).. 7% Am Ut&Gen B vte (40c 6 Anchor Post F (b10%) 15% Anglo-Chilean Nit 815 Appalachian Gas. 8 Arcturus Radio T + Arizona Globe Col 8% Ark Nat Gas. 84 Ark NatGasA... 7% Ark N G em pf (60c). 102 Arkansas Pwr&Lt pf( 9% Art Metal Works (1) # Asso Dyeing & Pt 5% Asso Elee Ind (30c 29% Asso Gas & Electric 30% AssoG&E A (at2.4 3% AssoG & E debrts 97 Asso Gas & Elec et 2% Asso Rayon.... 38% Asso Raygn pf ( 19 Asso Tel Btil (b8 11% Atlantic Sec Corp. 8 Atlas Utilities Col 5% Austin Mot Co Ltd. 2% Auto Mus Inst (A). 24% Aviation Corp Am 124 Aviation Credit 6 Aviation See,M 120 Babcox & Wilcox (19).. 2% 3ahia Corp... 454 Bancomit Corp (1.60)... 70 Baumann (L) pf (T)eeee 5% Bellanca Aircraft. 146 Bell Te! of Can (8). 115 Bell T. of Pa. pf.(6%)... 28 Bickford In>pf (2%)... 18 BlissCo (EW) (1). . 6% Blue Ridge Corp (40c).. 33% Blue Ridge ev pf (a3)... 20% Blumenthal (8).. . 14 Borne Scrymser (2) 29% Brazil Trac & Lt(h2)... 7 Brillo Mg (30¢)..0uuee 54% Buckeye Pipe Line (4).. 241 Buffalo, N&EP pf(1.60) . 81% Bulova Wev pf (3%)... 7 Burco, Ine.. eoreen 2y Burma Corp, rets (131e) 84 Butler Brothers (30c)... 2% Bwana M Kubw CoD...w 17% Cable Radlo Tub vte. 7% Cabl & W Ltd, A ret: 1 Cabl & W Litd, B ret 8% Cab&Wire pf rets 93%¢.. 3% Canadian Marconi 3 Carib Syndicate. . 26% Carnation Co (j1%) 5 Carnegie Metals. Carrier Eng n-v A (1) 12 Celluloid Corp 25% Cent Pub Sve. Del 25 Cent Pub Svc A (al1.75).. 19 Cent States El(kd0¢). ... 4% Centrifugal Pipe (60c). . 215 Chain Stor Development 9% Chain Stores Stock..... 17% Chat Ph Alnv (50c).... 17% Chemical Natl Asso n-v. 140% Cheesborough Mfg 15%. 10% Chicago Corp (The).... 89 Chicago Corpcv pf (3).. 24% Citles Service(g30¢).... 88 Citles Service pf (6) % Colombia Syndicate. 3% Colon Ofl........ 5% Columbia Oll & Gas vtc. 31 Colum Pict vte (f1%) 234 Com'with Edison (8)... 3% Comwlith & Sou (war).. 11% Comm Wat Serv b6% % Comstock Tunnel. . Consolidated Afrcraft % Consol Auto Mer ctfs... 1% Consol Auto Mer cum pf 3% Consolidated Copper. 12 Cons Dairy Prod (2) 90% Con Gas of Balto (3. 10 Consol Laundries(1). 197 Cons M &S (12%) 3% Consol Royal 011(50¢).. 137 Contl Chicago Corp. Contl Shares pf (6). Coon(WB)C 0).. Cooper Bessemer (2)... Cooper Bess pfA(3) 5 Copeland Prod Inc A. 6 CordCorp......cvsvvee 19% Corp Secur of Chi (b6%) 9 Corroon & Reynolds. 65 Crn & Rnlds pfA(6) 29 CosdenOil....... 10 Courtaulds Ltd(45c). 5% Creole Petroleum % Cresson Cons (8¢) 15 Crocker Wheeler. . 9% Crown Cork Intl A ((1). 30 Crown Cork pf (2.70).... # Cuban Cane pr opt war. 30% Cumbeland P L(t18). 34 Cuneo Press (2%). 1% Curtiss Wright war. % Cusi Mex Mining. 10% Darby Petrolm new (2), 2% Dayton Airplane & Eng. 65% Deere & Co (m1.20) 2% De Forest Radio. .. 4% Derby Ofl & Refin 314 Detrolt Alrcraft Cor. 16% Detroit Gasket (1.20) 10 Dix Gas & Utllities, 84 Doehler Die Casting. ... 12% Douglas Alrcraft (76¢). 656 Douglas Shoe pf (7).... 31 Dres (SR) Mfg.A (3%). 4 Dubilier C& Radio..... Duke Power (316). 7 Duquesne Gas Corpw. 2% Durant Motors. ... 1 Durham Hosiery (B) 116 116 3 4% 158 70% Elec Bond & Share (b6). 92Y% Elec Bond&8h cu pf (5) 1034 El Bond & Sh of (6).... 19 Elec Pow AsS0 (1)...4 24% 23% 16% Elec Pow Asso A (1) 284 22 2814 0l P & L opt war.. 51 46 9915 Elec P&L 2d pf A (7)... 108% 1034 15% Elec Shareholding (31). 19% 82 Elec Sharehold pf(a6) . . 94% 6 Empire Corporation. 6 11% Empire Fire Ins. . 11% 39 Empire Pwr pt (1.60)... 404 16 Emp Pub Svc A (a1.80). 16% 22% Emplyrs Reins(1%).... 24% 12% Europe Elec, Ltd A(60c) 12% 3% Euro Elec, Ltd deb rti 4% 1% Evans Wall Lead. . 9% Ex-Cello Air & Tr (80¢). 2 Fabrics Fin 1% Fageol Motor. 3 Fairchild Avia 45 Fajardo Sugar. 8% Fedders Mfg C 16%5 Federal Screw (3) % Fiat Stk deb rts. % Film Inspect Mach 96 94% 108% 108 Florida P & L pt(7). 13% Fokker Alrcraft. . 28 Ford Mot. Can A (11%). 36 Ford Mot, Can B(11%).. 6% Ford Mot, France (28¢). 10% Ford Mot, Ltd (37%¢) 4% Foremost Fabrics. . 2% Foundation For Shs..... - % 12% 4 103 1 " " % 8% 9 231 110 98% 6 22% 6% 4% 9 9 9 15215 150% 152% 116 31 19 8 39% 20% 16 36 b § 55 26% T++1 108% 24% 23% 48 108% 19% 94% 7 B N R S A RS 4+ 4+ L4444+ 441 # Ti++0 L +4 041 B R A k| 167,248,945 323,248,445 Net 4 Y FE F2 2 5¥F I++1 1 ++014+ ++ + +1 2E FEFER ! o ow [RE | ) - » = - FF FFEre PR OFEFFS 22 VIiFTH 4+ T ssfessecfer sxrsP¥scs B FEF OFIF 44 FRE +4+ 41444 o = L EFEF PE +4+ e + S - FEE ¥ FE FEEFFEIEREST S22 1+ FEI DL T++10 FEREEF FEFEF eeFerssfasesssrsss T+1I+0 41+ 1444101 ! - 2 s EsFrsd FFOES 14% 49 5% 294 1667 1, 16 3% 112% 107% 107 105% % 24% % 18 17% 1 24% D. C, SEPTEMBE Gen Gas&El cv pf B (6) .. Gen Laundry Machine. . Gen WW&EIA(2). Gleaner Harv, new (: Glen Alden Coal (8) Globe Underwrit: Gold Coin (new) Gold Seal Elec Golden Center. Grt A&P Tea pf (7)... Great Lakes D C (new), Srief & Bro pf (7). Groc Store Prod vte. Guardian F Assn (2) Guardisn Invest 22% Guenther Law (2) 15% Gulf Oll of Pa (1%). 8 Hall Lamp (60c). . 2% Handley Page pf (t * Happini Candy Hecla Mining (1). 11% HeydenChmCorp(2 24% 3 9% 28 2% Hires (C E) Co A(2) Hollinger Gold (60c) Holly Sugar. Houston Oil o Hudson Bay Min & 8. Humble (2)..... Hydro EL Sec.(2 Imp Ofl of Can, n (50¢).. Ind Terr Illu Ofl (A) Insull Util Inv (tb9qs, Ins Co of No Amer (13 Insurance Sec (1.40) Intercoast Trade Co. Intl H & Ine Co(10c) Intl Petroleum (1) Intl Produc Internatl Sup Internatl Utilities (B) Int Util pt pt (7) Interstate Equiti Interst Eq cv pf (3). Irving Air Chute (1) Iron Fire v.t.e. (11% Italian Superpowr A. Johnson Motor Co. . Kirby Petroleum Kolster-Br(Am shs) Lackawanna Sec (3) Lakey Fdry & Mach. Lane Bryant, Ine (2) Leath & Co (1)... Leh Coal & Nav new 1.40 Leonard Oil..... Libby McNefll & L. Liberty Dairy Products. Loew's Inc deb rts. Loew's, Inc (war). % Lone Star Gas (1). Long Isl Lt pf (7). Long Isl cu pf B (6). 2 Loulsiana Lan & Ex. 18 MacMarr Stores (1). 4% MagdalenaSyndicate 10 Mangel Stores........ 50 MangelStores pf (6% 14% Manning-Bow A (1%).. 18 Mfg Finance Co v.te... 8 Marconi Int Mar (38¢) 5% Marion Stm Shovel. .. Maryland Casualty, new Mass Util Asso Mavis Bottling, Mayflower Asso (12) Mead-Johnson (13.75) Memphis Nat GasCo. ... Mercantile Stores (5)... Mer Chap&s vf A(63%) Met & Min Inc(1.20) Met Chain Store Met be to 60c Strs pf. Mexico-Ohlo Ofl. ..... Mid Sts Pet v.t.c. A Mid Sts Pet v.t.c. B. Mid West Sts Utll (1%). Mid West Util (b8%). Mid West Ut A war. Middle Wst Ut war (E). Middle Wst Ut pf xw (6) Midlan Nat Gas A(1.20). Mid Royalty ev pf (2).. Midland Sti Prod. n (2).. Midland United (war). . Mo Kan Pipe L (b10%). Miss KPLv.te........ Miss River Fuel bd rts Monroe Chemical (1%) Mtg Bk, Col. Am sh 3:82 Mountain Prod(1.60), Mount St Pow pf(7) Nat B & Sh cp 50c. Nat Dairy Prod pf A(7). 4 Nat Fuel Gas (1) Natl Grocer. Nat Pub Serv (A) /1.60) Nat PScvpf ww 3%.... Nat Rub Mach (2).. Nat Sh Tm Sec(£50¢). Nat Sugar NJ (2) Nat Trade Journal 4 Natl Transit (1) Nat Unfon Radio. Nebel (Osc.) (62%c) Neet Inc cv A (1.60) Nehi Corp (1.30).. Nelson (Herman) (2)... Newberry (JJ) (1.10). New Brad O] (50c). . New Jersey Zine (12%4). Newmont Mining (f4) Newport Co (2)... N Y Hamburg (2%) N Y Pet Royalty. . 2 13% N Y Tel pf (6%).. 15% Niag.-H. Power (40c), Niag.-H. Pwr A war N Niag Hud Pwr (B) war.. Niag Shares, Md (40e).. N lement-P (123%). Nipissing (30¢)... Noranda Mines (2). Nor Am Aviation A war. Nor Am Lt& Pwr(b8%). North Cent Tex (80c). .. North & Sou AmCor p A. Nor European Ol Corp. . Northn Pipe Line(15)... North Stat Pwr A(8)... Nor States Pwr pf (6) Norwich Phar (t4%).... Novadel Agene (12%) Ohlo Brass B (5). % Ohio Copper-. ... Ohio Oil n (cu)pf (6 Ohlo Power pf.(6).. Oilstocks LtdA (50c). Okla Gas & El pt (7) Orange Crush (1.50) Outboard Mot (A) Outboard Mot B. ., PacG & E 1st pf (1%) Pantepec Oil Paramount Cab Mfg. Parke Davis (11.55) Patterson Sargent (2) Pennroad Corp (20c)... Penna Water & Pwr (3). Peoples L&P (A) (a2.40) Pepperell Mfg Co (8 Petrol Corp war. . Philip Morris Inc. Pilot Radio Tube(A). . Pines Winter Front (n1) Pitney B Pos n(20¢) Pitts & L E (110). Plymouth Oil (2). 254 Prent Hall ev (8). 8% Prince & White(25¢). 356 Prince&Whitely pf3.... 12% Prudential Inv. .. . 15 Public Util Hold w w... 3% Pub Util Hold Corp war. 9814 Puget Sd P&L pf (8).... 93% Pure Oil pf (6)... T4 Pyrene Mfg.. 5 Radio Products (2)..... 5% Rallroad Sh Corp(25¢). . 63 {lway & Lt'S (15) [3 inbow Lum ProdA. 2% Rainbow Lum Prod B +H+++1 R Pl ++ L4+++ T++++ @ FE ORFER Le¥. b te N ENEL e =8 * (I N FeFelosper 22578 sF2F 5 e sy seees"e &2 ¥ 2 w2 2722 oo o FEFEFEF B T A I AR AR = T T s M ¥ (333 P+ ++ 141 e e + l+++0040 0 10010 P o« T8 SEEEL £ £ I8 EEREE FEFEER 1++ L+ 41 | F FER # FFL e FEEFIEFE sra"eE $"FFs¥ras I+ 14+++++1 B B e - SEEEE £ FEE F T A A R e R BT - & SEFE saEssEs 140+ g EEFEW VEY S g F144+ 3 | their profession. R 7, 1930—PART SIX. and dividend. Raymond Concrete (4).. Red Bank.... Reiter-Foster Rossia Intl Corp. gc al Typewrit ( o Safety Car H & L(8). Safeway Stores war 2d. . Safeway Strs war (5th). Paper pf(7) Sally Frocks, Inc. % Salt Creek Cons(4 Salt Cre Scovill Mfg (3) Seaboard Utilities Secur Corp Gen (40c) Segal L & Hwde(50¢c) Seiberling Rubber. Selected Industri Select Ind allot ctfs Sel In 75%prior (5% ) Sentry Saftey Control Shattuck Den Min. % Shenandoah Corp. Shenandoah Corp p Sherwin Williams p£(6). Shreveport Elec (D). ... Silica Gelet. .".. Silver King Coal(1)... Sim’'ons Bd cv pf (3).... % Sing Mfg Ltd rcts(23c). Smith (A 0) (2)....... South Penn Oil(12%)... So Cal Edis pf (B) (1%) So Colorado PwA (2)... Southern Corp......... Southern Stores (A) ..., Southland Roy (1). Southw Dairy Prod. So West Gas Util. . Spanish & Gen ret: Spleg-M-Stn pf(63%)... Standard Holding Corp. Stand Motors.......... Stand Oil of Ind (235).. Stand Oil of Ky (11.80).. Stand Oil Ohto(2%). Stan Pow & Lt p£(7). Std Pub Sve A(b8%). ., Stand Silver Lead. Starrett Corp.... Starrett Corp pt (8) Strauss Roth. Stutz Motor Sun Investing. Sun Investing pt ( Sunray Oil (40c) . Swift & Co new (2 Swift Internat'l (3 Syrac W Mch B (1) Tampa Electrie (32). Technicolor, Ine. .. Tech Hughes (60¢) 4 Tenn El Pw 1st pf(7)... Texon Oil & Land (14). Thatcher Sec Corp. ..... 14% 10 Stoek 5% 4% Trai ! [RERR! FELEE T +1 ¥ +H+ 1+ 1+ o = selex 25 s"es » L F1L1I++14004) N F P FIEe [} - F Walgry —a P | 9 1% & Dividend sSersspxersy 2 reeley 25 FEELED 4L n stock. m Plus 3 per Tobacco Prod Export... Alr Trans......o: LuxDLPS Triplex Safety Glass. Tri Utilit! Tri Utilities pi Tung Sol Lamp (1). Tung-Sol Lamp pf (3) TwinStNGAPpPt1).... Ungerleider Fin Corp. Un N G of Can (11.60) UnionTobacco. 4 Utd Car Fastnr(60c) Unit El Ser pur war. Unit Found (b2-35 sh) United Gas new, United Gas war. United Gas pf (7). ] Utd Ligh*& Pwr A(1).. Utd Light & Pwr pf (6). Unit Milk Prod....... Unit Molas Ltd(t55¢) % United Ret Chem B ctfs. Unit Ret Chem pf (3%). Unit Shoe Mach(3%... eas U S Radiator (2) % U S Rubber Recl: Unit Verde Ext (2) Unite Wall Paper. Utah Apex (50¢) % Utah Metal & Tu i Utllity Pw & Lt(al) Utility & Ind. Util & Ind pt Utility Equitie: Vacuum Ofl (4). enezuela Petroleum. vic Finan Corp(40c) Waltt & B, A (2) Walker (H) (1). Mass Co (2%) Western Power pf (7) White Bagle Oil deb rts., Will-Low Cafeteria. Winter (Ben).... Woodley Petrol. Yukon Gold Co. Zonite Products (1 Ins Co of NA.. Insull Util, % ‘Insull Util pf So New Eng Tel.. % Zonite Prod. per cent in stock. j Plus 2 per cent in stock. k Plus 10 and_dividend. ERERE - Ed sesederessFs 2% +hl++000000 0 I+ +1 FHI # “aes"y 2R Frrrex LiI+4+11+ + Peefesen w3 e F R n Co. n Co war. FUH 440 FE FEER ¥® FP poct 8 & W n s based on last ¥Blue’s per cent n stock & Baa e in stock. e Adjustment dividend. stock. ‘h Plus i er eent & Plus 6 per cent in cent in stock. n Plus 8 per cent in stock., FRENCH INDUSTRIAL RECOVERY | AWAITS UPTURN IN AMERICA Nation Is Returning to Strong Financial Position of 25 Years Ago, as England Loses Ground. BY CHARLES F. SPEARE. Special Dispatch to The Star. PARIS, September 6.—The economic situation of France today is similar to that of the United States, but in minia- ture. Business is poor, most so where a state of normalcy is produced by wages, an active demand for 1pfl)- fessional services and a rise in the level of unearned increment. The luxury trades are flat. There is merely a mem- ory*of a market for high-priced cars; none for used ones. American tourists who spend lavishly have been missed this season, though the number of those who carefully count their francs has multiplied. Together, the two classes will contribute $100,- 000,000 to the French trade balance, a reduction of 20 per cent from the same figure for 1920. When these payments have been completed there will be a tempogary check to the imports of gold, which have helped to raise the metal holdings of the Bank of France $350,- 000,000 in the past 12 months. War Talk Heard. The French business man and banker are in much the same state of mind as their American colleagues. They have lost their nerve. Their domestic situa- tion does not alarm them. There is little unemployment, relatively. Per- haps there is more part-time work than has been the case for some years. The people may be economizing, but they are piling up their accounts in the sav- ings banks, and also hoarding govern- ment notes. One hears talk of war between France and Italy, while the coming elections in Germany are casting shadows over the political life of the country. The present unfavorable psychology of the Frenchman, however, is of an economic and not a political cast. No improvement will take place until he sees definite indications of an industrial recovery in the United States and posi- tive signs of stabilization in the mar- kets for securities and commodities. Like the rest of his European cousins, he has been waiting for a lead from America before he can shake off the depression. His securities markets have not gone down so much on the average as have those of New York. Unlike the latter, they are lower now than they were las November. The Frenchman is inter- ested in “Americans.” He cannot un- derstand why, with trade in the United States so much worse than in the Au- tumn of 1929 and with profits and divi- dends shrinking steadily, the prices of stocks should stand higher than they did at the end of the debacle. He also argues that after five years of con- stant upward movement, American shares have not had sufficient adjust- ment to the new state of business af- fairs. So he looks for another bad “quarter hour” before the day of re- vival dawns. France Took Loss. He cannot help being satisfied, how- ever, with the financial strength of his country. France took her loss while other nations dallied with theirs. That is why Prance is so pre-eminent today in contrast with Great Britain and Germany. A quarter of a century ago when, as now, France had abun funds available for export, she threat- ened to wrest from England her finan- cial security. The war prevented this. ‘Though less vigorous than in 1905, France is now fast returning to her position of that year. At the same time England is losing ground. Today France stands next to the United States as a money power, but with the United cond to France in the de- % in administration that has characterized the conduct of her finan- cial affairs in the past year, The techniclans of the Bank of France occupy a superlative position in They have a plan; they act in harmony; there is no politi- cal direction of their policies. Con- trary to opinions expressed in New York and London, they are not draw- ing gold from either market because they want it, or have need of it, but because by the law of exchange it au- tomatically moves their way. The phase of French financial well- being that is important for the Amer- ican market is the repatriation of dol- lar securities as a sequel to the earlier drawing back of capital in other forms from other countries mnlle'\nz the ex- ve years ago. here, cent of the outstanding French govern- ment municipal, railroad and steamship bonds issued since 1921 have been bought back by French investors. If the movement continues at the present rate during the next four years, there will. in 1934, be less than $50,000,000 of the present outstanding sum of $323,000,000 in the hands of Americans, for within that period railroad and city lsbsilee dggregating $165,000,000 are call- able. Dollar Obligations. Bankers here believe that some of the French dollar obligations are held here to the extent of 80 or 90 per cent of the total, especially those subject to early call and others, like Lyons, Marsellle and Bordeaux 6 per cents, that. are not subject to Prench taxes. ns of character has dropped to below 45 per cent, it remains above that available on domestic funds of equal quality. Thus, France is rapldly discharging her public debt in the United States, while other European countries are en- |larging their dollar "borrowings when they find lenders. This they will do so long as the American investor can be persuaded to purchase commitments of foreign nations. To new proposals of this character he is becoming cool. In turn, Brazilian, Bolivian, Austrian, German, Uruguayan and Chilean loans have gone to immediate discounts in- stead of to the premiums intimated by_those who sold them. ‘While Europe is keen to place addi- tional long-term loans in the United States, and the portfolios of American institutions are well filled with short- term paper, the Frenchman, who talks frankly, asks if the New York bankers have not been a bit greedy for com- missions in promoting such a large number of continental European, South and Central American loans on which the present holders have substantial Tosses. A case in point is the present political unsettlement in the southern republics, where the United States has a stake in the form of dollar bonds amounting to $1,500,000,000 and where loans have been made in the past three years in the face of small improvement in bud- get balancing or civic honesty. Perhaps this is why France, while piling up gold and flush with credits, prefers to keep them at home and let some one else supply funds to nations with which she has had experiences when she was the leading exporter of capital to the rest of the world. “We've about $1,000,000,000 in for- eign loans now,” say France's repre- sentatives, “and are again willing to increase this amount, but we must have good debtors, and those are diffi- cult to find." (Copyright, 1930.) —— . PAINTER TALKS AWAY SEASICKNESS ATTACK Sir William, Orpen, Striding Deck Like Hardened Sailor, Effects 0dd Relief for Sufferer. LONDON (N.AN.A)—Many various have been the recipes for cur- ing seasickness. Here is a new one: Sir William Orpen is a kind-hearted man, and he is also a wit. "One day when he was crossing from Ireland the weather was bad and the ship rolled unmercifully. Sir Willlam did not mind. He loves the sea and strode the deck like a hardened sailor. Presently he saw a crouching figure, rolling his eyes in agony. “I seem as if I were dying,” he cried to Sir William. The artist smiled. “Come with me,” he said, and led the stranger to the saloon, where for the rest of the voyage he talked without stopping and the stranger, a polite man, was compelled to listen. Thus he reached Holyhead without any seasick- ness because, so they say, there is no better preventive of the malady than a companion who talks so wesll that you have to concentrate in listening to him. If painting ever fails him, Sir Willlam could no doubt become the most - lar of-stewards. ity (Copyright, 1930, by North American Ni Daver Alllanced o N be stated that between 50 and 60 per | b Althoygh the income yield on obliga- | t and | Oats, ?o;:ly 19 to 2:, but only unds and over thin fowl are neglected at 15 to 18. Old hens, 43 pounds and over, are and bringing top values-of 25 and 26 meafun.'zo to‘fl:wuqhm- brin 18 and il poor lighe weighing 4 pounds and over, but small poor ducks are slow sale at 13 and 14, while black ducks are discriminaf and have to be sold at. Market for guinea fowl and continues steady at 60 to 75 for the l:;-mer and 15 to 20 a pair for the lat- Egg Prices. f with ready sale with some eggs bring- :l:"er: gx;remf:gn over quotations, but nearby current receipts are of both quality and slow to move out. Hennery whites must have the size to grade firsts, otherwise they are termed pullet eges and have to be sold at dis- count. Market closed today at 33 to 35 cents a dozen for hennery white firsts and 25 to 28 for firsts, with current re- ceipts selling mostly 23 to 25. White polatoes in moderate receipt but ample for the demand which is limited at 1.75 to 2.00 per 100 pounds, but No. 2 stock will not bring over 75 to 1.00 while barrel stock sells mostly 2.00 to 2.75. Receipts of native anc nearby garden truck ample for the de- mand, but values are holding steady or most lines at the following quotationsy Stringless beans, 1.50 to 235 bushe, beets, 4.00 to 4.25 hundred; Savoy cab- bage, 75 to 1.00 bushel; carrots, 2.00 and 3.00 hundred; sugar corn, 25 to 4p dozen; cucumbers, 1.00 to 1.20 bushel, eggplants, 50 to 60 hamper; lima beans 1.50 to 2.00 hamper; peppers, 50 to 6 hnn'x;;r; 5?3:,;};.2!30 to 75 hamper; to- matoes, :25_hamper and k- ing stock, 50 to 1.05 bushel. o Live Stock Prices. The live cattle market holds sf but quiet under moderate recei 'fi'fi choice cattle both in stock yards and on the wharves, but common to ordi- nary stock is slow sale at inside prices. Quotations today at Light Street Wharf: Beef cattle, first quality, pound, 7 to 8; common to medium, pound, 4 to 6; bulls, as to quality, pound, 4 to 6; choice to fancy, pound, 5 to 6; common to fair, pound, 3 to 4. Oxen, as to quality, 4 to 6. Calves, veal, choice, 10 to 1015; large, fat, 9 to 91%: large, rough, 7 to 8; common, thin, 5 to 6. Sheep, 2 to 4; old bucks, 2 to 3; Spring lambs, fancy, 813 to 9; choice, 5 to 8. Hogs, straight, 9 to 912; sows, 7 to 8; fs‘?; 1‘2’0 5; live pigs, 12 to 15; shoats, Grain Prices. Closing grain quotations: Wheat, No. 2 Red Winter export, 92%: No. 2 Red Winter, garlicky, spot, 895 ; s ber delivery, 8 p“oml‘, vg, Yellow 907%. 1c°mu .lNo. » 1.15a1.16; cob corn, 5.25a5.50. , No. 2 White domestic, s} 49; No. 3 White domestic, spot, 48. Rye, nearby, 68a75. ACTERLRR WILL KEEP PLEDGES - Australian Cabinet Votes Civil Service Cut and Lower Salaries. MELBOURNE, - Australia, September 6 (#).—The federal cabinet decided yes- terday to carry out itg pledges of balancig the budget, the program to include reduction of the civil service lnx lo;vfl'ln: of salarles. crisis arcse on this point several days ago and Prime Mlnhgzor James H. Scullin, en route to the imperial con- ference in London, was halted at Co- lombo for cable consultation. The cabinet announcement said sev- eral financial proposals had been dis- and the government to uphold all ol'om obl et nnl;tnranrdlom itors but in fing work for the unempleyed,