Evening Star Newspaper, September 8, 1930, Page 14

THE EVENING STAR, WASHINGTON, D. C, MONDAY, SEPTEMBER 8 1930. FINANCIAL. NEW YORK STOCK EXCHANGE | |BOND PRICES WEAK | Coxex o BONDSsmocx cnws] \PRIGES OF TOBACCD . R e | ONHEAVY SELLING REACH LOW POINT UNITED STATES. (Sales are In $1,000.) 39 ;:..,“" Developments in Argentina Growers Aroused Over In- Cause Liquidation—Money ability to Obtain Better A—14 #*x% LASTQUARTER AN "N BUSNESS SEEN Wrigley Expects Pick-up in; All Lines During Re- FINANCIAL. Sales. High. Low. Close. Richf'd O cal 6s°44. 12 83% 82 82 Sincl O 6%s B 38 7 108% 108% 103% Sincl O 7scv A ’37.. 66 105 1041 106 38 102% 102% 102% 102% 102% 102% 96% 96% 96% 991 994 99% 5 106% 104% 105% 106'% 105% 105% ~Prev 1930~ Stock and Sales— Dividend Rate. Add 00. High. Spang-Chal pt (6)... 10s 94%3 Sparks Withing (1).. 10 22 Spicer Mfg. D116k Stand Bran, i 208 4 Stand Comm Tob 6l Stand G & E (3%)... 107% Stand G & E'f (4) o (Continued From Page 13 Stock and Sals Dividend Rate. Add Myer (FE) & Br (2). Nash Motors (4) N Sales. High. Low Close. - 6101 10030 101 23 1025 1021 1021 32 103 10230 10230 2 11220 11215 11220 FOREIGN. Sales. High. Lib Lib 1st4%s. Lib 4th 4%s, US4%s's2.. les— 00. High. Low. 43% 43% 36% 34% 13% 13% 9 9 84% ~Prev.1930— High. Low. 49% 35% 30% 106 Nat Biscuit n Gf;‘/- 1.0w. Closs. mainder of Year. BY JOHN F. SINCLAIR. Epecial Dispatch to The Star. NEW YORK, September 8—William | ‘Wrigley, jr., Chicago business man and | sportsman, believes that the last quar- ter of 1930 will be better in his busi- ness than that of 1929. The Chicagoan sees nothing basically wrong with business itself. He thinks 1t is sound at the core and that as soon as the bad effects of a prosperity spree have spent their force conditions will move ?:rl'lrd again, as they always have in the past. “My idea is that business was on a ‘prosperity drunk’ for several years. Many manufacturers increased their output and expected that they could keep on doing this as long as they were in business. The supply was constantly exceeding the demand—some stocks were selling at 30 times their earnings or more. When this condition prevails | ‘the morning after the night before’ is sure to put in an appearance, Sees Production Gain. ~ “Business was riding for a fall and the fall was postponed very much longer than most ple thought it would be. I think that when the sur- plus merchandise has been gradually absorbed it will be necessary for fac- tories that have been closed for three or four days a weck to start up very nearly full time this Fall, because there will be a demand for their product.” Mr. Wrigley believes a tremendous wave of economy and a fear that the present low prices of commodities now prevailing will still go lower is really what is holding business back from a new advance. “My personal view of the general business situation is that it will be healthier than it has been for several years. There is plenty of cheap money, wages have not been reduced and, now that the surplus stock manufactured during the hurry-up night-and-day pe- ‘riod 1s about exhausted, we should no- tice a very considerable improvement in the general business situation.” Mass Buying. Mass production demands mass buy- ing, says John P. Frey, American Fed: eration of Labor official, in the mag- azine of Wall street, because he is con- vinced that the high rate of production and the high mechanized industry to which American business is committed cannot be sustained except at the pres- ent wage level. “If coolie labor, with its low wage and debased standard of living, was to replace the mass of wage earners in the United States, most of our basic indus- tries would close their doors,” said Mr. fi;{h the home market in the United States upon which business prosperity depends, because the wage-earning pro- ducer is the largest consuming pur- chaser. ‘Undoubtedly, Mr. Frey agrees with Henry Ford’s statement that “there is not a factory in America that was built for shutting down.” Mr. Frey gives a particularly apt ex- ample to illustrate his point. He says that the United States at present is inj Jd14% the ition of the patient having dif- fi ?’mm breathing. Does the doctor uce the volume of oxygen? Instead, the clothing is loosened, the windows are opened, and perhaps oxygen is arti- ficially administered. Unless the circu- lation of oxygenized blood is maintained the patient will collapse. “So it is with wages and prosperity. The circulation of money is necessary. Under our present industrial system the circulation of economically sound wages 1s more essential than ever before,” says Mr. Frey. So this labor leader repeats his thesis that mass production demands mass buying; and mass buying demands a continually increasing purchasing power. Shorter Hours. joseph Ryan, New York labor leader, lei a lolut.{(m of the economic d!‘flflll- ties of the present time in labor's de- mand for shorter hours of work each day and fewer days a week. “Labor must receive high wages for its hours, no matter how short; and its days, no matter how few,” said Mr. Ryan recently. “These wages, then, will be spent by the workers on products to be enjoyed in their leisure hours. He, too, joins Yh.h o"t’!{ hm::‘“":;: urging unemployment insu: 2 a cnh‘nny. b:tm as a right due the from industry.” '“cm.r“"m P. Howard, president of the International Typographical Union, con- demns the wage cuts as rl“hmr in de- a return to prosperity. l“"'M‘“‘en now observe that business pros- ty is inseparable from the purchas- mlfl power of the masses,” Says Mr. Howard. “The opportunity to sell de- ds upon the ability of the workers to m. and the ability of the workers to buy depends upon employment and Tn his address, this labor leader agrees with many capitalists themselves that “reducing wages or depriving ‘workers of employment is not a remedy for business | depression.” Seeger’s Career. Few economists gained such enviable gosmon in the world of lu{:holn'shlp ;;r'(‘:d usiness as did Henry R. seeger - fessor of economics at Columbia Uni- versity, whose untimely death in Kiev, Russia, 10 days ago, was announced. Prof. Seeger was the author of numerous books on economics and finance and was honored by his col- Jeagues throughout the United States with the presldertmlzy of the American conomic Association. lll was quite characteristic of this scholar that his last work should have ‘been the taking over of a party of well- known American economists to Russia, to make a careful and scientific study of the workings of the five-year plan, which Soviet Russia has undertaken. In private life, Prof. Seeger was one one of the simplest and kindliest of men, and thousands of students who listened to his lectures at Columbia will mourn his death as a distinct personal Jos e Nation itself has lost one of its most brilliant mings. Dramatic Productions. ot all dramatic productions succeed. ln“mct. the vast majority are regarded res. "%fiuflmbfllrd‘ the weekly theatrical review, announces that of the 175 dra- matie productions that opened in New York between August 1, 1929, and July 31, 1930, 87 per cent were regarded failures. 'n;‘fl!u 2 per cent more than ceding vear. m!‘r‘n“t e profession, 2,865 players acted in the various New York dramatic pro- ductions and 2,854 were seen in musical shows. The most frequently seen actress and actor last year were Eva Le Gallienne, 4 who performed in 15 plays, and Robert Ross, who acted in 14 plays, . 1930, by North American News- . paper Alllance.) ZENITH RADIO. NEW YORK, September 8 (#).—Paul Kiugh, vice president and general man- ager of the Zenith Radio Corporation, cald current operations of the corpora- tion are on a profitable basis and that the current quarter, which began Au- gust 1, should show earnings consider- ably better than in the preceding three ‘months, when a net loss of $6,092 was reported, against a loss of $281,931 in the corresponding period last year, He added that the profits in the next quar- ter, which includes the peak months of the radio season, should be considerably larger than in the current quarter. SO S Practically every motor gvehi *:‘nnd was made in Amegs Nat Cash Reg A (t4) Nat Distillers (2 Nat Lead (18). Natl Tea (1).. % Nevada Copper (1).. Newton Steel (2).... N Y Alrbrake (3.60). N Y Central (8).. N Y & Harlem (5). NY Invest (1.20). NYNH& Hart (6). PI(6) N Y Steam 18t pf (1) 708 9% Norfolk & Southern. 1 Norf & Western (10) 1 North Am Aviation.. 16 Nor Am (b10%stk).. 56 North Amer of (3).. 2 North Am Ed pf «6). 1 Northern Pacific (5). ~4 Ohio O11 Co (2) 0il Well Supply Ofl Well Sup pf (7) Oliver Farm Equip OlivF Eqpf A (6)... Oliv Farm Eq cv pt. . 4 Omnibus Corp. .. Orpheum Cir pf (8).. Otis Elevn (234) Otis Steel (234) . . Owens Il Glass (3), Pacific Gas & El (2). Pacific Lighting (3). Pacific Mills. Pacific Tel & Tel (7). Packard Motor (1).. Fan-Am Petrol (B) 'aram nt Publix (4). PATEAIADS s aos Parmelee Tran (60c) Pathe Exchange. .. . Pathe Exchange (A). Patino Mines. ... Peerless Motor Car Penick & Ford (1). Penney (J C) (3) Penn Coal & Coke Penn Dixie Cem i Penna RR (4). le's Gas Ch Petrol Corp (1%) Phelps Dodge (3) Phila Read C&1.... Philip Morris&Co(1) Phillips Petrol (n2). Plerce Oil Pierce Petroleum. .. . Pillsbury Flour (2).. % Pirelli Italy (a3.14). Pittsburgh Coal. Pittsbureh Coal pf. 4 Pitts Steel pf (7). . Pitts Terminal Coal. Pitts & W Va(6) Poor & Co (B) (2). PRAm Tob A (3%). PR Am Tob (B).... Prairie Oll & Gas (2) Prairie Pipe L (5).. Pressed Steel Car . Pressed St C pf (7)., Proct & Gamb (2.40) . Prod & Refiners Prod & Refiners pf. 4 PubSvNJ (3.40) . PubSv N J pf (5)... Pub Sv N J pf (6). Pub Sv N J pf(7) Pub Sv N J pf (8). Pullman Corp (4) Punta AlegreSugar. . Pure Ol (1%) Pure Oil pt Purity Baker] Radio Corp .. 629 Radio Corp (B) (5).. 7 Radio-Keith-Orph A. 933 Raybestos Man 2.6 Real Sllk (5) 55 24% 45% 524 T1% 20% 130 124 501 483 1% 178 28% 6 3 29 17 1 11 5 208 83 88% 69% 85 50 B8% 6474 46% 14% 914 95% 30 104 » FrmaeRBwn Revere Copper & Br. Revere C& B pf (7). Reynolds Metals (2). Reynolds Spring. ... Reynolds Tob B (3). Richfield Oil (2).... Rio Grande Oil (2).. Royal Dutch a3.2165. Safeway (e6)....... St Joseph Lead (13). St L-San Fran (8 504 Bosre 3 18 Schulte Retail pf (8) 108 Seaboard Afr Line... 9 Sears Roebuck $2%. Second Natl In Seneca Copper. Servel Inc. .. . Shattuck F G (t1%). Shell Union Oil. ... Shell Un Oil pf (5%) Shubert Theaters. Stmmons Co. Simms Petrol 1 5 20 4 4% 37 32 20 112% 108 42 27% 99% 83 8 34 118 30% 122 12 52% 127 108 136% 75 101 90 Skelly Ofl (2). Skelly Ofl pf (6) Snider Packing. .. 2 Solvay Am pf (5%).. 25 Sou P Ric Sug (140) 25 Sou P Ric Sug pf (8) 20a Southern Cal Ed (2). 38 Southern Pacific (6). 20 Southern Rwy (8)... 22 Southern Rwy pt (5) 1 4 3 65 35 50 2 3 1 8 1 92 47% 554 15% 31% Sun 011 4 Timken Timken Ui Stand Invest Corp. .. Stand O of Cal (23%). Stand Oil Exp pf (5). Stand Oil of N J (12) Stand Ol N Y (1.60). Starrett (LS) (12%) Sterling Sec (A). Sterl Sec pf 11.20)... Stewart-Warner (2). 4 Stone & Webster (4). Studebaker Corp (3). Sun Ol pf (6) Superior Oil. Superior Steel, Superheater (1314). . 4 Symington (A).. Tenn Cop & Ch (1) Texas Corp (3).. Tex Gulf Sulph (4).. 607% 105 70 314 35% 11 12 27% 9% 31% 5874 106% 2% 13 444 9% 1% 5144 5914 21% 61% 105% 704 (). The Fair pf (7)... ‘Thermoid Co. Third Avenue Third Nat Inv (2). Thompson Starrett. . 4 Tide Water As (60c) Tide Water As pf (6) Det Ax (80c) Roller (3)... Tob Prod (A) (80¢c).. Transamer (11.60) Tri-Cont COrp....... Tri-Cont Corp pf (6). Truscon Stl (g1.20).. Twin City RTr (§4). Twin City R T pt (7) Ulen & Co (1.60) d-Ell-F Union Carbide (2.60) Union Oil of Cal ($2) 'nion Pacific (10)... Tank Car (1.60).. 357 21 3 2 1 208 2 4 215 17 4 her (5) . Aircraft. ... Utd Aireraft pf (3) Utd Biscuit (1 60). Utd Carbon (2) Utd Cigar Store: Utd Corp (50¢).. Utd Corp pf (3) Utd Dyewood Utd Electric C Utd Fruft (4) Utd Gas & Im (1.20). Utd Gas & Im pf (5). Utd Piece Dye W (2) Utd Stores ( Utd Stores pf (2% )t. U S Distributing. 8 & For Secur..... & For Sec pf (6). Freight (3)..... ind Alcohol (17) Leather, .. Leather (A).... Leath pr pf (7). Pipe & F (2). P& F 1st (1. Realty (5). Rubber. . S Rubber 1st pf. U S Smelt & Ref (1). U S Steel (7)... U S Steel pf (7) 4 Univ Leaf Tob (3). Univ Pipe & Rad. Util Pow & Lt A (e2) Vadasco Sales Corp. . Vanadium Stl (t4) Car Chem. ... El & Pow Dt (6) Va Iron Coal & Coke. Va Iron Coal & C pf. . Vulcan Det (4) Wabash. . Waldorf Sy ) Walworth Co (2).... Ward Baking (B) . s s s 8 s s s s s s Vi v 2 155% 68 1% 19% 6 112% 65 W a% ner ‘Warren per cent in stoci , k. Lo per cent in stoci 51% % 34% 50% 5% 8 88% % 374 % 1021 4 25% 10% e Quinlan. Warren Bros (3) Warner Bros Pict. War Br P pf (2.20).. Bros 1st (1). 30s War Bros cv pf (3)..120s Webster-Eisenlohr. . Western Dairy (B).. West Penn E1 A (7). West Penn El pf (6). West Penn El pf (7). West Penn Pw pf (6) 10s it Penn P pf (7).. 80s tern Dairy A (4). 9 1 208 10s 208 1 4 Westing E & M (65).. 226 Weston El Instr (1). White SewingMach. . White Motors (2). Wilcox Oil & Gas Wilcox Rich A (2% Willys-Overland. ... Wilson & Co (A).... Woolworth (2,40 Worthington Pum; Wrigley (Wm) (4).. Yale & Towne (2). Yellow Truck... Youngs Spring (3) Zenith Radio.... . RIGHTS EXPIRE % Warn Bros P.Sept 15 171 Sales of Stocks on New York Exchange. % 2% 342800 12: 1,678.300 1.192,000 1910 500 Dividend rates as given in the above table are the annual cash payments based on the latest quarterly or half yearly declar s Unit of trading less than 100 shares. O s Ot "’I!Tgh in ‘:Gfl 1l a s year—no regular ra When eatried 6 Payabie in cash 1Partly extra. 3Pl [) in 3 us 9 per Payable in stock. d Payable tock. { Pl 5 S Plus 8 per cent in stock. k Plus 3 per cent . n Plus 8 per cent preferred stock. rBubject to approval n_stock. stoc! CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS. NEW YORK, September 8.—The fol- lowing is & summary of important cor- poration news prepared by the Standard Statistics Co., Inc.,, for the Assoclated Weekly News Review. ‘The stock market registered further | progress last week. Prices, which moved in & narrow range, were higher Tues- day, declined moderately on Wednesday and Thursday, but recovered most of their losses Friday, and on Saturday ad- vanced to their best levels in over a month. Volume of transactions was again small. Indications are public in- terest in stocks is at a low ebb and that rice movements are largely controlied bs professional operations. With the exception of Latin American issues, bonds were strong. Our index of 30 prime bond issues touch a new m!‘h R, 200, T, “Lollh ighest point in over two . American issues were disturbed by the reports of political unrest in several countries and receded moderately. Com- modity prices were unsettled with wheat, rubber, coca and others touching new year’s low. In the money market the call rate advanced to 22 per cent. This firmness is usual at this time of the year when demand from interior points reaches its high level. Brokers' loans in the week of September 3 recorded an increase of $8,000,000. This is the first increase in brokers’ borrowings since the week ended July 30, and brings total loans to $3,101,000,000. Daily average volume of Federal Reserve Bank Sys- tem's statement were increases of $38,- 000,000 in holdings discounted bills, $14,- 000,000 in Treasury notes and $7,000,000 in holdj tificates $2,000, at 80.8 per cent, against the preceding week and 73.2 per cent & year ago. Rerorts from industry published dur- ing the week discloced further seasonal expansion has been experienced in sev- grain ucts, coke and ore were the only classifications failing to show an increase in loadings over the week pre- vious. Compared with last year, however, the contrast is distinctly unfavorable with the decline reaching 17.3 per cent, the largest of any week since the ing of the present contraction in reight last year. Steel ingot produc- tion, as estimated by Dow, Jones & Co., showed a small reduction in output from the previous week, due. Jargely to the holiday, but the Iron Age figures placed outturn of the industry at 55 per cent capacity, compared with 54 per cent in previous week and 52 per cent three Wweeks ago. A survey at this time of the various sources of demand leads to con- clusions ingot output will be adanced further in the early future weeks. How- ever, nothing more than normal sea- sonal expansion is looked for. Produc- tion of electricity in the week before last declined 0.7 per cent from the prev- jous week and was 4.3 per cent below same week of 1929. = Construction Work. Construction contracts awarded in the States east of the Rocky Mountains during August aggregated $347,318,300, accordipg to F. W. Dodge Corporation. ‘This was a drop of 5 per cent from July total and 20 per cent smaller than in August, 1929. For the first eight months of 1930 building awards declined 19 per cent from year ago. Automobile production during August in the United States and Canada is es- timated at 240,100 cars by National Automobile Chamber of Commerce. This is the smallest output of any cor- rupondlng month since 1921. Com- pared with July, production declined 12 per cent, while against a year ago drop was 52 per cent. Including esti- mate for August, output in the first eight months was 2,842,844 units, com- pared with 4,444,947 in like period 1929, & decline of 36 per cent. The decrease in outturn during August was about as anticipated, as most plants were on part time during the month. September is not expected to make a much better showing, as output continues restricted requirements. Statistics of the petroleum industry continued to indicate progress in re- duction of stocks and balancing of sup- ply and demand. Crude oil éutput was reduced 9,150 barrels and gasoline stocks 1,027,000 barrels in the week of August 30. Stocks of gasoline are cur- rently about 16,000,000 barrels below the year's high point and the lowest since December 7, 1929. In response to the improving position of the nnnlns division, the wholesale price of Unite cator of merc nd States motor gasoline in midcontinent market advanced ings 92 cents common share, against $1.47 year ago. Arizona Commercial Mining August copper production estimated 320,102 pounds, against 314,179 y AgO. Bunker Hill & Sullivan Mining & Concentrating July profit before de- preciation and depletion, $188,152; 7 months, $1,550,669. Chrysler Corporation introduces new 13-ton Dodge truck in four models, list price, $595. Diamond Match recapitalization plans involve formation of new company to take over present concern in return for 850,000 shares new 6 per cent $25 par preferred and 680,000 shares no par common; 20,000 new common shares to be 1ssued for expenses and 350,000 shares to be sold to bankers; each pres- ent share would receive five new pre- ferred, four new common shares and special cash divitend $25. Kirsch Co. earned $1.35 common share in year to June 30, against $2 previous year. 8. H. Kress & Co. August sales off 3.6 per cent; eight months, 3.4 per cent above year ago. Kroger Grocery & Baking sales 34 weeks and 4 days' sales off 6.1 per cent; had 5216 stores August 30, vs. 5,607 year ago. Mellville Shoe August sales off 0.5 per cent; eight months, up 138 per cent over year ago; excluding sales ‘Traveler stores, increase was 0.2 per cent. National Electric Power August elec- tric output up 3.1 per cent; eight months, 7.7 per cent above year ago. Phelps-Dodge Corporation rgomd seeking to acquire National Electric Products. Prentice-Hall, Inc., earned $4.20 com- | mon share in 12 months to June 30, vs. $4.01 previous year. Union Carbide & Carbon subsidiary, Oxweld Acetylene, buys 40-story Car- bide & Carbon Building from 230 North Michigan Avenue Building Corporation. — Standard Oil Dividends. NEW YORK, September 8 (#).—Cash dividend disbursements of the Stand- ard Ofl group in the third quarter to- taled $68,859,106, compared with $68,- 590,901 in the second quarter and $65,- 425,981 in the third quarter last year. BANK CLEARINGS. NEW YORK, September 8 (Br!clll).f New York bank . a8 one-half cent to 6 cents during last week. The Compénies. Alles & Fisher, Inc., first half earn- » ‘I“"Y,lzlr i 553,000,000 $591,000,000 Salances . 145,000,000 124,000,000 New Yorl . Reserve Bank credits 116,000,000 131,000,000 Rates Are Higher. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK September 8.—With a budget of over $40,000,000, consisting entirely of new municipal bonds, a ten- dency toward slightly harder rates for time money and heavy selling of South American bonds on the political devel- opments in the Argentine, listed bonds were weak today. Prime bonds were either unchanged or off by small fractions, reflecting the new offerings and the threat of tighter money rates. Second-grade domestic issues were sold in switching operations to_the new flotations. The activity was all in the foreign department, where selling forced the entire Argentine group off a point or more, though this was well absorbed by investors who believe that a new ad- ministration in the Argentine may be beneficial to American capital there. This theory was built up on the belief that former President Irigoyen was anti-American and favored British trade relations. It was supported by cables from London today expressing nervousness over the situation. It served to keep the losses in Argentine lol_ll_'l: within narrow limits. ere was, singularly, little sympa- thetic liquidation of other South Amr:'- +|ican dollar credits. Uruguayan and Peruvian issues were off fractionally in response to reports that diplomatic re- ;| lations between Uruguay and the new military Junta controlling Lima govern- ment are strained and that the Uru- guayan envoy has left for home. Other- wise the South American group was quiet and unchanged. Japanese credits were strong. The recently issued 5,5 were active and a shade higher. French Cities 6s were ai fected by overseas buying, though other French obligations sagged a little. Ger- man bonds were irregular. Mexican bonds scored some substan- tial advances, with the Street’s view of the situation there considerably strengthened by a first installment on the new debt ization and advices from Mexico City that the new debt plan will be approved. In the prime domestic section Ca- nadian National 5s, Pennsylvania 4Y5s, Frisco “A” 4s, Great Northern 7s and Standard Oil of New York 4lis were fractionally lower. Offsetting gains were made by Chicago, Burlington & Quincy general 4s, American Telephone 515 and New York Telephone 4!ss. Cq vertibles were strong, after a dull open- ing. American I. G. Chemical 55s, Atchison 4l5s, American Telephone 4158, International Telephone 4l5s, Texas Corporation 5s and Loew’s 6s all improved. St. Paul 5s, with a 134-point gain; St. Paul adjustments, with a point ad- vance, and Chicago Great Western 4s up }2 point featured the junior rails. There were also small gains in Mis- souri-Pacific 4s and Southern Railway 4s, but the rest of the list was un- changed or slightly lower. The St. Paul issues responded to continued reports of better traffic conditions. PFisk 8s and Pathe 7s were two semi-speculative in- dustrials that improved. National Dairy Products 54s were 14 point higher. An- glo-Chilean Nitrate 7's, International Paper 5s, Dodge Brothers 6s. Armour of Delaware 558, Goodyear 5s and U. S. Rubber 55 were off. New York traction bonds continued active and strong. Washington Stock Exchange SALES. W:;};)nmn Rwy. & Elec. 45—$1,000 at . Capital Traction Co.—10 at 60%. An'tu:ltl‘;l & Potomac R. R. 55—8$1,000 af 3 Potomac Electric 51 % pfd.—5at 10815, ‘Washington Rwy. & Elec. pfd.—5 at 98. National Bank of Washington—10 at 250, 10 at 250. ‘Washington Loan & Trust Co.—2 at 480. cflll:;l;lbll Sand & Gravel pfd.—10 at Ve | District Nat'l Securities pfd.—5 at 72. Mergenthaler Linotype—8 at 97. National Mtge. & Inv. pfd.—100 at 5, 100 at 5, 100 at 5. The Carpel Co.—50 at 24, 100 at 24, 65 at 24, 65 at 24, 50 at 24Y. AFTER CALL. ‘Washington Gas—5 at 124, 4 at 12 Chevy Chase Dairy pfd.—10 at 103. Potomac Electric 52 % pfd.—4 at 108'%. | Peoples Drug Stores pfd.—5 at 101%. Bid and Asked Prices. BONDS. PUBLIC UTILITY. i Amer Tel. Amer_ Tel. & Tel. 43 '3 Am. Tel. & Tel. cti tr. Anacostia & Pot. R. R. 5 na C & P. Tel 3 Capital Traction R. ity & Suburban ‘S5 n 528332 25352 Wash. Gas 6s. series B. .. .l Wash. Rwy. & Elec. 45 4 MISCELLANEOUS. Barber & Ross. Inc . Chevy Chase Ciub § C_Paper W Wash 5 torage Cons. Title 6s . ........ STOCKS. PUBLIC UTILITY. Capital Columbia Commercial (stamped) (i0). District (8). 5 Fed etropolitan’ (14) as) | TRUST COMPANY. Amer. Securily & Trust (18).. | Prince Georges Bk Union Trust (8g)....... Wash. Loan & Trust (14).." SAVINGS BANK. Bank of Bethesda (88) o & Bevings (10 United States (30) Wash. Mechanics' (32)’ FIRE INSURANCE. American 3 Gorcoran (10). remen’s (8). National Union B 1 TITLE INSURANCE. Columbia (6h). Real Estate (8h)... Title & Inv. Co. Md. com. MISCELLANEOUS. Barber & Ross, Inc., com.. Chevy Chase Dairy ‘pid. (1) Col. 8and & Gravel pfd. (7) Golumbia, Bidg, Medical Co : C- {Eaper Mie. pid, Dist. Natl. Sec. pfc Emer. Bromo-Selz Federal Storage pfd. . com. Ter. T Weeh” Mg, om Wash. Med ~Blde. Col Woodard & Lothrop pid, “E; it S Argentine 58 "45 Argentine 5148’ Argentine M: 87% 87% 90% 95 | Int Match 58 '47. 95% Argentine 6s B ‘58, Australia 43,5 '56. Australia 58’55 Australia 58'57. ... Austria 7s '43 . Bk of Chile 6% s '57. Belgium 78 '56. Belgium 8 Bolivar 7s ‘58 Bolivia 7s ctfs’ Bolivia 88 '45. Brazil 6145 '26. Brazil 6% Brazil 7 Brazil Bremen 78 '3 Canada 6s'31. Chile 65°60. Chile 65 '61. Chile 7= "42. Colombia 68 Copenhag 4% Copenhag 55 Dan Mun 85 A *46 Denmark 434862 Denmark 518 ‘55 Denmark 6s ‘42 Dutch East I 6s'47. Dutch East 165 '62. Finland 535 '68. Finland 78 ‘50 Fram 1D 73%s 42 Krench 7849, . French Gvt Tis ‘41 Gelsenkir Min 65 34 German 531 '65. . . German Bank 65 ‘38 German 7s rep '49. Ger Gen E178'45 Haltl 6s'52. . Hungary 7%s "44.. Italy 7851, . Italy Pub Sv 786 Japanese 45 ‘31 Japanese 53 85 Japanese 6155 54 Jugosl Bank 7s '57. Karstadt 6s 43 Kreug & Toll Lyons 6s°34. Marseille 65 ‘34 102% 88% 100% 108% 120% 125% 95% 86% 88% 105% 102% 18 30 120% 125% 95% 86% 90 106% 102% 95 9% 981 95% 95 99% 9814 9B% 974 Milan 6% s '52 Montevideo 7s Netherlands 6s '72. New So Wales '57.. New So Wales * Nord 63 '50 Norway 5s '63 Norway 5148 Norway 6s'43. Norway 6s *44. Norway 6s 52. Orient dev 5158 '58. Orient dev 6s '53... Paris-Ly M 6s'58.. Ly M 7858, . Peru 6 B Peru 7s '59. Poland 7s '47. Poland 8s '50. Queenland 6s '47 Queenland 7s "1 Rhine West 65 5z. Rhine West 65 '53. . Rhine West 75 '50. . Rio de Jan 6148 '53. Rio de Jan 8s '4 105% 86 86 105% 100% 102% 104% 15 105% 102% 924 9 104% 8. Rome 6145 °52. ., Roy D 48 '45 w- = Serbs-Cr 8178 °6 Solssons 6s '36. Sweden 515554, Swiss 514846, ..., Swiss Conled 85 *40 Toho El Pow 6s 32, Toho El Pow 7s '55. Tokio 538 '61. ... Utd King 5% 5 '37 Uruguay 6s '60 Uruguay ‘46 Vienna 6s ‘52.. Warsaw 7 Yokohama 6s '61... 17 MISCELLANEOUS. Abitibi P& P 5553 14 Allegheny 55 '44... 29 Alleghany 55 °49... 87 106% 4 1056% 105 107 100% 100% 92% 105% 93 105% 87 2% 98% momBa Sal snnanad ResaSonvne | Am Ag Ch 7368 41, AmF P 5%s 2030. . Am 1GChb%s" Am Int Cor 534 " Am Metal 535 '34. . Am N Gas 6168 '42. Am S&R 18t 58 '47. . Am Sug Ref 65'37.. Am T&T ev 414539 . Am T&T 58 6 5 Am T&T ¢ tr 5s Am T&T 5s s Ath T&T 5% 4 Am W Wks 58 '34 AmWrit Pap 65 '47. 106% 105% 106 1081 101% 8 92% 81% T 107% 1111 60. . 3.. 843, AtGulf 59s°5. , Bell Tel Pa 58 B '48. Bell Tel Pa 55 C '60. Beth St p m 68 '36. . Beth St rf 55 '42. Bk Edgn A §s Cert-td deb 5% s *48 Chile Cop db bs '47 Colon Oil 65’38 Col G&E 55 May '52 Com Invest 515849 Com Invest 6s '48 ConGN Y 5%s*5. De Edison bs'40. .., Det Ed rf 6s B 40 Dodge Br col '40 Duquesne 438 '67. . East C Sug 714537, Fisk Rub 8s'41. . Gen Cable b8 '47. . Gen Motors 6s '37 Gen P Sv 5148 '39 Gen Thea Eq 65 '4 Good 1st 61:s 47 Goody'r Rub 68 '57. Humble Oil 5s ‘37, , Hum O&R 5% '62. Inland Steel 41 8" Int Cement 5s'48. 1 Int Hydro El 65 '44. Bomaw Boa 103% 58 1% 103% 58 n% PREE T TN 102% 102% 97% 101% 101% 102% 97 101% 101% 100% Int Pap 6s A 47 Int T&T cv 414839, Int T & T 58 ‘65 Kan Gas&E 4145 '80 Laclede 518 C '53. . Laclede 535 D '60. Lautaro Nit 6s'54. Lorillard 538 ‘37 Lorillard 78 '44. . McCormack 68 '34. . Mid St & O 58 °36... Mont Pow 58 '43. 1 3 7 Mont P db b8 A '62. f Mor & Co 15t 4%s. . Nat Dalry 53, s'48..107 N Eng T 18t bs'52.. 12 NYEd5ssB'44 2 NYEd1st6%s Nor St Pow 58 A ‘41 Nor St Pow 68 B 4 Paramount Pathe Exch 78 '37.. Peoples'Gas bs. Phila Co 55 '67. Phila & Read 6549, 74 Phil Pet5%8°39 .. 82 Por R T am 43.. 1 Pos Tel & C 5 'l:. <184 e 12 10 28 104% 104 104% 100% 99% 100% 107% 107% 1&87% 104 103% 108% 110 110 110 Utd Drug cv 58 '53.. 17 100 99% 99% | U 8 Rublst 5s 47 25 834 82% 82% Utah P& L 58 '44 2102 102 102 Util Pow 6%8 47 9 90% 90% 90% VertSugist7s'43. 1 38 38 38 Warn Br Pic 6s'39. 33 80% 89 89 West Un Tel 5851 2106 105 105 6%s°36. 1110 110 110 WEOG%s'37 ww. 1 104% 104% 104% Wil-Ov 1st 63 3 101% 101% 101% Wil & Co 1st 6 4 101% 101 101% WinRAT%s'41... 1103 103 103 YouBt& T 5s'78... 28 104% 104% 104% RAILROAD. Ann Arbor 4s'52... 4 B84% B4u 84Y Atchisonadj 4s'96. 2 95 9% 95 Atchison gen 48'95. 13 98 97% 98 Atchison cv 4% 8’48 12 131% 181% 131%, At & Bir 48 '33. e % k3 AtC L 1st4s’52. AtCL 4%s’6: B&O4s'48 StOIINY ¢% ‘Tenn EI P Tex Corp cv Trans Oil 6% 7 98% 96% 96% 5 101% 101% 101% 19 101% 101% 101% 18 107 107 107 4 104% 104% 104% 7 104% 104% 104% 1 110% 110% 110% 5 96'5 961 961 7 92% 92% 92% . 25 101% 101% 101% 5 102% 102% 102% 5 10 10 10 1 92% 92% 92% 129 100% 100% 100% 5 104% 104% 104% 20 92 91k 92 2 100% 100% 100% 10 100 99% 100 10 99% 99% 99% 10 99% 99% 99% 26 106% 1056% 105% 6 105% 105% 105% 2 105% 105% 105% 1 100% 100% 100% 8 118% 118 118 15 90% 90% 90% 79 99% 99 99 9 103% 103% 103% 11 103 102% 103 105 97 97 2 105% 105 105 6 113% 113% 113% 17 100% 100% 100% 50 103% 103% 103% 2101 101 101 4 101% 101 101 2 104% 104% 104% 11 74% 73% T4% 9 9TH 9T 9% 2 102% 102% 102% B&OPAWYV ds 41, Ban & Aroos 4 '51 h Av5s'43.. BKIyn Elev 6135, Bklyn Man 6s ‘68 Bklyn Un Ei 58 '5 Bklyn Un 15t 58 '50 . Bush Ter con 58 '55. Can Nat 4348 '54. .. Can Nat 4%s'67. .. Can Nat 4148 Can Nat 4387 Can Nat 58 Jul: Can Nat 6 Oct Can Nor 4148 '35 Can Nor 6% s d Can Pacific db 45 Can Pacific 4% Can Pacific 55 '54. .. Cent of Ga 58 C'59. Cent of Ga 5% '59. Cent Pacific 4s'4 Cent Pacific 55 60. . Cen Ry NJ gn 65 ‘87 Ches Corp 5s ‘4 Ch&Ogn 4%s Ch&O4%sA'93.. Ch&O4%sB 9.. Ches & Ohio con bs. Ch Gr West 4s°'59. . ChIn&Lrf5s'47.. ChM&StP4s 89 Ch M&StP 4%s ChMStP&P5s'75 ChM&StPadjbs. 114 54 53 Ch & NW 4%s2037. 13 100% 100 100% N' s, 6 101 100% 100% 1 110% 110% 110% 4 80 80 80 95 99% 99% 9% 95 9914 99% 9% 85 86 93 93 5 105% 105'% 105% 1 105% 105% 105% 65 101% 101 101 1 102% 102% 102% 7 107% 106% 107% 5110 110 110 2 101% 101 101 ine . nd ev 48 '52. C& W Ind 6%s 62 Ch Un Sta 5s B'63. COC&StL 4% 8 (E) Clev Term 4%s "7, Clev Term bs'73. .. 6 98% 987 98%« 1 68 68 4 71 70% 4 51% 51% 51% 1 105% 105% 105% 1 97 97 97 L] Cuba Nor 5%s 42.. Del & Hud 53%5°37 D& R Gr gn 4836 Den& RG W b DRG & W st 5878, DuS Sh & At 5s'37. Erle 15t con ¢s. Erie conv 48 (B) Erte gen ¢» Erie 53 1975, Fla E Coast 6s Fonda J&G 438 '52. Gr Tr s £db 653 D) Gr Nor 4%s'77 (E) Gr Nor 5873 ..... Gr Nor gn 5148 '52. . Gr Nor gen 36. Gulf Mobile 58 '50. . Hud & M adj 58 ’57. Hud & Mrf 58 '57.. I11 Cent 45’52 Tl Cent 4% Til Cent 6145 111 CCStL&N 434s. . 111 CCStL&N 5s A. . Int Rap Tr 68 '66 .. Int Rap Tr sta "66.. 91 Int Rap Tr 6s ‘32 15 Int Rap Tr 2 Int & Gr Nor . Int & Gr Nor 52. Kan C FtS&M 4s'36 Kan City Sou 3s ‘50, Kan City Sou 5 '50. Kan City Ter ¢s '60. Lake Shore 431, Leh Val cv 45 2003, Leh Val 5s 2000 Long 1s1 db L & N uni 4s'40, L &N 4%852003, Manh Ry 1st MIIE Ry & L bs M StP&SSM con M StP&SSM bs '38. M StP&SSM bs gtd. M StP&SSM 6%s. . MK&T 1st 45'90.. MK&T4%s'78. . MK &Tadj 6867, MK&ToprinbsA Mo Pac gen 48 '75. . Mo Pacific 55 A *65. Mo Pacific 5s F '77. Mo Pacific 55 G "78. Mo Pacific 55 H '80. Mob & O gen 4s'38. Mont Tr 1st 58°41.. NOT&M5%s 54, 7107 107 4112 112 112 1 100% 100% 100% 11 995 @95, 99% 1 106% 5% 106% 1 111% 111% 111% 20 111% 111% 111% 2 100% 100% 100% 64 84u 84 84% 7101 100% 101 29 931 93% 93y 4 101% 101% 101% 1109 109 109 3 99% 99 99y 1 105% 1051 105t 5 T1% 7% T1% uy 7% % 56% 56 56 901 9015 90% 6 95 94% 95 17 105 104% 105 4 9N 9T% 9T 6 79% 7915 7T9% 6 100% 1001 1001 T 92% 92% g2 1 110% 110% 1108 7 100% 100% 100% 1 98% 6Bu 984 4102 102% 1021 17 54% B4 B4 2 102% 102% 1027% 4 90% 90 1 90 2 92w 92 5 9 98 99 8 101% 101% 101% 4 91 91 91 1 99% 9914 99y 3 99% 99% 995 16 104% 104 17 814 80% 1 102% 102 27 102 10I% 101% 1102 102 102 16 102 101% 102 1 95% 95% 95% 10 100% 100% 100% . 2 100% 100 013. 24 102% 102 102 3 108% 108% 108% 1 F06% 106% 106% - 90°8 98 98 - 10 107% 107% 1075 ; 9 102% 102% 1024 3 12 102% 102 102 NYNH&H4s'56.. 1 864 874 NYNH&H db4s'sT 1 80% 80 som NY NH&H 4%s8'67. 10 96% 95% 96Y NY NH&H cv dl 6 124% 123% 1241% 8106 106 106 149 49 49 an Jor Pacific 38 2047. 6 691 Nor Pacific 48'97... 10 N Noi 15 113% 113% 113% Orden&Lake Ch ¢s. 10 81'c 811 811 Ore Short L 68 gtd. 2 106% 106% 106% Oreg-Wash 4s'61.. 17 95% 94% 9414 4 102% 1025 102% 35 98% 98% 98% 1 101% 101% 101% 14 105 104% 104% . 8110 109% 109% .2 100% 100% 1001 Peor & E 1st4s°40. 4 88% 88% 887 PCC&SLLEsA.. 1 109% 109% 109% P&W V4%sC'60. 15 Port Elec 65'47..... Port Ry bs '42 Port Ry L&P 6847, Por R L&P T8 '46 Rio Gr W clt 4549 RIAr& L 4%s'34. "“H'."-“'?-‘ 68 94 93% 93% L& 878, Hy prinbsB. 3 104 104 104 genbs 2101 101 101 . 1 105% 105% 105% I 106% 105% 105% 10 109 108% 109 1 B9% 89% 89% Crop Values. BY J. C. ROYLE. Bitter controversy is raging betweén the bright leaf tobacco growers of the Southeast and the cigarette manufsc- turers and tobacco buyers. The sales of bright leaf tobacco held in Georgia and North Carolina have been most disappointing and the grow- ers who still have crops to of are anxious and aroused. do they resent the prices there is talk of an organ of manufactured in all duction of consumption would hurt them as well as the manufacturers and buyers. Price Controversy. Each side blames the other for price conditions. The manufacturers cite overproduction and a huge volume of carry-over stocks. ‘The growers in many instances feel that they are buck- ing a gigantic combine. The fact re- mains that in Georgia and North Carolina prices have from 7Y, to 12 cents a pound for bright lugs and 12 to 18 for medium cutters, which growers say is below cost of pro- duction. A Those farmers who are in a finan- cial position to do so are holding on to their tobacco. Offerings are limited, but so are bids. It is a question which side’ will give way. The growers pomnt to the fact that cigarette consumption is at the high- est point in history and the makers, they say, have the prospect of big profits. The drop in price levels from 1929 is almost 25 per cent for the bright leaf, but growers say quality is just as good as last year and that the total yield will probably not be lllg larger than in the 1929 season, in whicl pericd profits to the grower were any- thing but satisfactory. ‘The manufacturers and buyers say low prices are due to large stocks on hand, over-production and prospects of ot alied pardiulanly’ fi’“:m"'ru“‘”‘ not a arly with e D, declare that the unsettled condition of the foreign markets has been the thing which has given buyers the opportunity to secure tobacco at extremely low prices. Some farmers agree that there has been over-production and both sides recognize the disorganization of the foreign markets, with warfare in China and unsettled economic and political conditions in Europe and South America. Retail Situation. ‘The cigarette manufacturers still are in active competition and large sums are being spent for promotion and ad- vertising There seems small chance of a decrease in retail cigarette prices in view of cecnditions, although con- sumption, according to returns to the Internal Revenue Department, shows a continued and steady growth. Retail tobacconists still are keeping one eye firmly fixed on the operations of the chain stores, which they say, are pushing sales of cigarettes at low prices to attract customers who mey be induced to buy other commoditics yielding a greater margin of profit. (Copyrisht, 1930.) Special Dispatch to The Star. BALTIMORE, Md., September | Potatres—Whii~. 100 pounds, 75a2.0 barrel, 2.00027 © sweet potatoes, | rell, 3.25a40C". beans, hamper, 2.25; beets ;" cabbage, basket, ; .00a3.00; cauli- corr, i . 75a1.20; eggplants, ham- iima beans, bushel, 3.008 lettuce, crate, 40a75; pcppers, haxn:per, 50a60; . 50a75; tom~tees, hamper. stock, bush-!l, 50a1.05: apj 50al1.25; cantaloupes, hamper, huckleberries, quart, 18a22; peaches, bushel, 1.50a3.50; pears, bushel, 7581.25; vetermelons, 100, 10.00240.00. Dairy Market. Poultry, allve—Chickens, Springers, pound.ughza: Teghorns, 15823; hens, 20a26; Leghorns, 14a18; roosters, 14a !15; ducks, 13a20: guinea fowls, each, 65 a75; pigeons, pair, 15a20. | Eggs—Receipts, 990 cases: nearby " hennery white, firsts, 33a35; firsts, 258 28; Southern firsts, 24a26; current re- ! ceipts, 23a25. Butter—Good to fancy creamery, pound, 36a42; ladles, 28a30; rolls, 27a 1 28; process, 33a35; store packed, 24825, i Hay and Grain. Wheat—No. 2 red Winter, export 923,; No. 2 Winter, garlicky, zot, 89%; Sc’;;un;ber, 6:::;: October, 91 Rye—Nearby, 3 Oats—White, No. 2, new, 40a49%; No. 3, 48a48%%. o Corn—No. 2 domestic, .yellow, new, 1.15a1.16; cob corn, 5.25a5.50. Hay—Receipts, none. market strengthening. serfously curtailed nearby crops, chang- the entire situation. Sections here- to! are now asking for offers of hay. Good clover mixed and timothy new ':l’ly will bring from 22.00 i 28.00 per ton. mw‘hel'.p:tl'lw, No. 1, per ton, 9.00a 10.00; oat straw, No. 1, per ton, 9.00a 10.00. By the Associated Press. NEW YORK, September 8—Fall merchandise for immediate delivery was ordered heavily by retailers during the past week, with a greater number of buyers :enrinz in the New York mar- ket than during the previous week. Resi- dent offices expect a heavier influx during the present week and a conse- quent expansion of commitments. ‘What is described as the largest single order for the installation of steam su- perheating equipment has been received by the Buperhnterl u?o ::“m mcnne:umm rating R e Tave Station of the ' 4.00 the Hudson Avenue Brooklyn, N. Y.. Edison Co. - plete order calls for eight boilers to supply nearly four and a quarter million pounds of steam per hour for 320,000 kilowatts of installed capacity. S Bales. High. Low. Close. San A& AP4s'43.. 1 95 Seab ALrfds'49.. 2 4% Seab A Licv 6s'45.. 13 501 2 94% Sou Pac ref Sou 4%s8'68 Sou P 4%s 69 wwW.. Tooun Un P 1st rf 58 2008. Va RR 4%8°62..... Va Ry & Pow 58 '34 VaSWevb5s'58. Wahash 418 Wabash 2d s5 39 W ‘75.