Evening Star Newspaper, September 22, 1930, Page 15

FINANCIAL. THE EVENING STAR, WASHINGTON, D. C, MONDAY, SEPTEMBER_ 22, 1930. GRAIN MARKET CONGRESS EXPECTED TO ACT {GRADUAL TRADE GAIN - Received by Private Wire GURB SHARES SLIP | IN SELLING DRIVE Utilities Bear - Brunt of Liquidation as Trade statis-I v tics Continue Unfavorable. BY JOHN A. CRONE. Epecial Dispateh to The Star. ".NEW YORK, September 22.—Political disturbances abroad and unfavorable trade statistics and earning reports ‘furnished fresh selling ammunition to the bears today on the Curb Exchange, which moved lower from the opening gong. Electric Bond & Share rallied aiter Josing 2% points. American & Foreign Power, its principal subsidiary, how- évef lost 2% points. American Super- Power. was off fractionally, as were Gitles. Service and a score of other leading “issues. opening feature was the sale of ‘The 16,100 shares of Electric Bond & Share. | This block, representing a series of unched sales and a decline of 24 ts, was thrown on the market as combined result of South American volutionary news and reduced esrn- shown, by American & Foreign owér. The latter company has prop- erties in Chile, Ecuador, China and other countries mentioned in today’s political news. Its. balance for the common stock in. the last fiscal year amounted , to $4300.355, aga $5,~ 104,966 in the preceding fiscal year. . Unfavorable rumors from the oil in- dustry brought about a resumption of Relling in the petroleum division. Stand- ard Oil of, Ohio and Standard Oil of Kentucky early hit' new lows for the year: International Petroleum sagged only fractionally, for its South American tions are pot in countries men- aonad in today’s news. The opening of the National Radio Show today was expected to prove a for increased interest in radio se- gurities, but general market movements virtually overshadowed the early small 9 in DeForest Radio, Eisler Electric and others. - Amusements were uniformly weak in 4he forenoon. Columbia Pictures, with #n-initial fall of 3 points to 38, proved the weakest. Technicolor was down 7% on its first sale, and other active issues were off fractionally. Gains were made by Safeway Stores . bptioh warrants and. Mead- ohnson.. Declaration of the regular dividend by United Verde Mining Ex- tension bettered the price of that stock. Higher-pticed industrials, Aluminum Co. of America, lantic & Pacific Tea and A. O. Smith Corporation, registered initial- losses yanging from 2 to 5 points. Dixie Gas Utilities, -down 1%, scored the widest decline in the natural gas share list, ‘which“was dull and irregular. S OB EPUEE “CHICAGO STOCK MARKET ber 22.—Following rice Cream. 500 Bendix Aviation. 50 Borg-warder . 100 Bors-Warner ! 50 Brach & Sons. 150 Brown F & W B 200 Burnham Trad pr.. 500 Butler Bros...... . 300 Gent T ‘Bee. o t 3 t Ind Pow Bi.. Cent Pub Serv A. Cent & Bc West 1150Chi C & C Ry RO gorn r.gidstesees ot-galnl QE %irad 15000 Mujestic House Dearbor * 300 Miduand Nat Gas 250 Midiand United 150 Mid] nd Unit war . d PRI LR <383 Nt Batiery 50 Nat Elec Power A 400 Nat Secur T 50 Nat Standard . 100 Nat Un Radio. . 900 Noblitt Sparks 300 North American 200N West Bancorp. 10 N West Util 7s pi. 100 Pines Win! 100 Polymet 100 Process 2 45 Public Service 'n 'p.. 269 10 Bervice @s of.... 126 hi. Stock sties today. 212.600 shares 3¢ BONDS. Insy 31 o @..?‘:H.."m‘.‘ FOREIGN EXCNANGES, (Quotatiens furnished by W B Hibbs & Co.) Nominal goid Selling checks value. toduy 1486 1 2783 5.233c “gpeea Q%Y sergEs ‘Beca! the modern girl likes greater | active at upturn; oo ¢ past, a large | Western gr Manchester, the last of its beef in run, and all interests freedom than those of the Note—All stocks are sold In one Stock and Dividend Rat: Asfa Ansco pf Air Investors (war). Allegheny Gas 3 Allied Milis (80c) . Aluminum Co of Am. Alum Goods (1:20) .. Alum Ltd cum pf § Am Agri Chem w.i. Amer Austin Car. Am British & Cont *Am Capital pf (3)... Am Cigar Co oonean Am CP&L (A) (a3). AmCP&LB (10%) Am Com P A (b10% ) Am Com PB (10%). Am Cyanamid (B) Am Dept Stores. Am Equities 5 Am For Pow (war).. AmGas& i 621)... Am Gas & EI pf.(6).. Am Jnvest Inc (B).. Am Laund Mach (4).125 Am Lt & Trac (2%). Am Mfg Co (4)... Am Maricabo Am Superpow (1) Am Superpwr 1st( Am U &G B vte 40c. Am Yvette new wi.. Anglo Chil N§ Appalachian Arcturus Rad Tu Arkansas Nat Ga. Ark Nat Gas (A) Arl G cu pf (60c). Asso Elec Ind (30c). Asso Gas & Elec. ... Asso GEE A (a12.40) Ass0 GRE (A) dbrts Ass0 G &Epf (5)... 10 Asso Rayon. .. . Asso Rayon pf (6). Atlanfic Secur Cor) Atlas Util Corp Auto Vot.Mev pf pt. Bancom Corp (1.60). Bellanca Alrcraft. .. Bliss (E W) Co (1).. Blue Ridge Cp (40c). Blue Ridge cv pfad.. Bohack HC (213). ... Bower Roll Bear (1), Brazil Tr & Lt (h2).. Br Celanese rets Buff N&EP pf ( Bwana M Kubwa.... Cable & Wire A rets. Canada Marcon. .. .. Cent Pub Sve A al.75 Cent St El (k40c). ... Centrifug Pipe (60c) Chain Store Devel. .. Chat Ph Al nv (50¢). Chicago Corp (The). Cities Serv (g30c)... 36 Cities Serv pf (6) Clev Tractor (1.60).. Colombia Syndicat; Colon Oil, Col Ol & Gas vte Columbia Pie (f13%). Col Pict vte (£1%) Com Edison (8) % Com & Sou war...... Com Wat Sv (b§%). Comstock Tunnel Consol Auto Merc Consol Copper. Cons Gas Balt (3.60). Consol Laundries(1 ‘on Retail Strs (1).. oon (WB) (2.80)... Cooper Bessemer (2) Cooper Bess pt A (3) Cord Corp. 2 Corroon & Reynold Creole Petroleum Crocker Wheeler Cr Cork Int A (1) Suneo Press (214)... 4 Curtiss Wright war. Dayton Alr & Eng... Deere & Co (m1.20).. De Forest Radio. ... Deisel W Gilb (1%). Derby Oil Refining Detroit Afrcraft. Diamond Match w Digmnd Mtch pf wi.. Dinkler Hotels (2). Dixie Gas & UtI. Doehler Die Casting. Dress S R (A) (3%). Driver Harris new. . Duke Power (j15). Durant Motors. . East St Pow B (1). East Utll Inv (A). Eisler Electric Corp. El Bond & Sh (b6)... £l Bond & Sh pf (6). 1 Bond & Sh cu pf 5. Elec Pow As80 (1). . —Prev. 1930.~ " Sales— High Low. 1% N a 2 PIOTSE TR ot FOT OIS U 2 o HE) 2 a0 R b annne o omE sn s abSnlanan-Sy oo SewdaBenSa Bt e ananp N-ALRS -~ Ronoe— A ® Emp Pwr pt (14.60). Europ Elec deb rts. . Kvans Wallow Lead. Ex-cello Air & Tool.. Fabrics Finlshing. .. Fairchild Aviation Falcon Lead. ... Fansteel Products. .. Fedders Mfg Co (A). Finance C Balt A.... Flintkote (A) (1%). Florida P&L pf (7).. Fokker Aircraft. Ford Mot®an A t1% Ford Mot France 28¢ Ford Mot Ltd 37%e¢ Foundation For Shs. Fox Theater Cl (A). Gen Alloys (80c). ... General Baking . Gen Baking pf (3)... Gen K Ltd ret (hoe). 12 Gen G&E cv pf B (6) 505 Gleaner Harvhn (2).. 1 Globe Underwriter 3 Golden Center. ... Gold Coin (new). Goldman Sach T C Gramaph rets (20¢) . GrA&P T n-v (5) GrA&PTDpt (7). Groc Stores Prod vi Gulf Oil of Fa (1%). Hecla Mining (1). Helena Rubenstein. . Houston Ofl of Tex.. Hudson Bay M &S. Humble Ofi (2) Hygrade Food Prod. fmp Ol of Can (50e) Imp Ol Can reg (50¢) ind Ter [iu Oil (A). ind Ter Illu O1l (B). Ind Fin ctfs (b10%). indianapolis P&L pf Indus Finev pf (7).. Insull Util Inv th9% insCo N Am (13). .. Insurance See (1.40) TN O T S TSP I 2 115% 9y 115% 8% 18 Intercontinent Pet n Int Petroleum (1). IntSaf Raz B (12%). Internat Super (f1). internat Util (B). .. Int Uti] war (new). . interst Eqev pf (3). Irving Air Chute (1) 4 Italian Superp (A).. Italian Superp war. . Johnson Motor Kirby Petrole exceptiing those designated by the letter s (80s) which shows those stocks to be sold in odd lots only. Add 00. Open. High. Low. Close. . R ™ NEW YORK CURB MARKE hundred-share lots (2508) ~Prey. High 434 2519 1930.—~ Low. 51 Divide! Lefcourt 78 1% 3% 8% 226 17% 78 1% 78 1% an £ Leonard Lion Oil Louisian: Marconi Mass Uti Met Chai Met & Mi Midld > Stock and Lackawanna Sec (4). 5 Leh C& Nn (1.40).. Loew’s Inc war).... Lone Star Gasn (1). LaP&Lpf(6).....2008 MacMarr Stores (1). Magdalena Synd. ... rion Steam § Direct to The Star Office Sales— Add 00. Open High. Low. Close. BR% 385 IRK a8l 12% 12% 3514 35 1% 17% 10 nd Rite. Real t1.85. . ofl... Ref (2) 17 9% 351 e 101 13% 3Ry a Lan & Ex. 2 101% 1 Mar (38¢c). 1 Asso. Mavis Bottling...... & Mead Johnson (1414) Memphis Nat Gas. .. Mer Ch & S (1.60)... Mesahi Iron. ... n Stores. n Inc (1.20) & Mid St Pet vte A Mid St Pet vtc B Mid W St Ut (1%) .. Mid West Ut (b8%) Mid West Ut A war.. t Gas A 1.20 Midvale Co (4) Mo Kan P L (b10%). s MoKanPLvte. ... Mount Prod (1.60) Nat Ame: Nat Avia Natl Ban rican Co. tion ksve (5). 5 Nat B& Sh ep 50c. Nat Fam Nat Fuel Nat Inve, Nat Pow Stb215 % Gas (1) stor: & Lt : Nat PScv pf ww 315 Nat Rub} her Mach (1) Nat Screen Sv (2). .. NatlS T Nat Tile Nat Trad Sec A fi0c. AR5 e Journal Nat Transit (1) Nat Union Radio. Nehi Corp (1. Nehi Cor, Nevada ¢ D pf “al New Brad Oil (50¢).. New Eng New Eng Pow (2). Pow pf ( Newmont Min (f4).. vewport Niagara Noranda No Am A No Am 1 North W Pac G&E Fac Pub Pitney B Prince & Prin; Prudenti Publle 17 R R Sh C Rainbow Rainbow Rellance Reybarn Safeway St Regis Saxet Co Schulte U Selected Sel Ind a Select I S W Gas Stand In Stand Of Stand O] Starrett Starrett 4 Taggart Salt Creek Prod (2). Seaboard Utl (50¢). Sex Lock & H (50c). 3 Sentry Safety Cont. . Shenandoah Corp. .. Shenandoah Cp (a3). Smith (A 0) (2). Solar Refining. . SoCal Edpf B (1%). SoCal Ed pf C (1%). Southern Corp. ..... Spanish & Gen rets. , Stand C& S n (2.40). Strauss Roth. ... Stroock & C Stutz Motor Car. Sunray Oil (40c) Swift & Conew (2).. Swift Internat (2%3) Co (2). N Y Tel pf (64) Niag-Hud Pow (40¢) Niag-Hud Pow A w.. Niag-Hud Pow B w., Niag-Hud Pow C w. . Sh, Md(40¢) Mines (2).. Nordon Mines, Ltd. . viat A war.. t1st pf (6), cvpf (3) Nor Europ Of1 Corp.. Nor Ind Pwr Sve(6), NorInd PSpf (7)... Nor St Pow A (8). Novadel Agene 1315, Ohio Oll n cu pf(6).. 18t pf (114) Sv (1.30)... Pac Western Oil. Pandem Ofl......... Pennroad Corp (20¢) Peop L& P Aa2.40.. Petrol Corp war...... Philip Morris Inec. Pn (200).. Power Securities. ... Power Securities pf. 4 Premier Gold (24¢).. Whit (25¢). Whit pf (3) Prod Royalty (f1)... al Invest. .. Pub Ut Hold (50c) til Hold war Pug SAP & L pf (5). 108 orp (25¢)... Lum PrA. Lum PrB.. Raymond Con pf (3) Reiter-Foster. . Int (A Co. .. Reynolds Invest. Rock Lt & P (90¢). .. Ryan Consolidated, . Sors war 242108 Paper (1).. 23 RS Industries. 1lctfs(43). d pr (5%).. B N L P T T L e T Utilities. v ot (51%45). Standard Motors. ..., 11nd (2% Stand Ofl Ky, (11 80) 1, Neb(t314) 1 Stand Oil Ohio (214) 3008 COrp....... Corp pf (3). 3) Corp (1)... Tampa Electric (32). Technicolor Inc. .... Teck Hughes (60c).. Texon Oil&Land (t4) Tish Realty & Con. .. Todd Shi pyard (4).. Tran Con Air Tran.. Trans Lux DL P S.. Tri Utilities pf (3).. Twin 8t NG A pt (1), Un N G of Can {1 4 Unlon Tobacco. Utd Car Fast (6 Utd Corp (war) Utd Found b2 Utd G Utd G nz’q Utd Gas 10% 3 pt (7) Utd Lt & Pow A (1) Utd Lt & Pow pf (6). U'td Milk Products Utd Milk Prod pf. Utd Profit Sharing U S Dair; U S Elec U S Foil y (B)... Pow ww. (B) (1). U S & Int Sec 15t (5) U S Lines % U S & Ov s pf (1) erseas Utd Verde Ext (2) Util Pow & Lt (a1).. Util P&L B ctfs (al) Utility & Ind. ... Util & Ind pf (1%) Vacuum 0il (4). Van Camp Packing. . Walgreen Co. .. . Walker (H) (1).... Wil-Low Cafeteria Zonite Products (1). RIGHTS. InsCoof N A..Oct 1 Zonite Prod. Dividend rates in dollars based on last qu; payment. * Ex dividend. cash or stock. 5% in stock. 2% in stock. & Plus k Plus CHICAGO LIVE STOCK :umr; CHICAGO, September 22 () (United | States Department of Agriculture).— | Hogs, 35,000 head, including 14,000 di- rects; steady to weak with Friday's aver- wge; wp, 11.00; bulk, 220-300 pounds, 10.75210.90; 160-200 pounds, 10.25a | 10.75; packing sows, 7.75a8.50; smooth | lightweights, 9.00a9.35; light light, yood | and choice, 140 pounds, 9.35a10.35; light | weight, 160-200 pounds, 10.00a10.80 medium weight, 200-250 pounds, 10.65a 11.00; heavyweight, 250-350 ° pounds, 10.15a11.¢ sows, medium and good, 27 , 7.7546.50; slaugh- ter pigs. good choice, 100-130 pounds, 8.25a9.35 Cattle—15,000 head; calves, 2,000 head: fed steers and yearlings, 25a50 higher; market irregular, but mostly about 6,000 head rs here; mostly she stock consequently not much pack! 0 pount and and stocke: 41 8% in stock 1,325-pound steers, 12.40; best year- | lings, 12.60; some held higher. Slaugh- | ter cattle and vealers—steers, good and | choice, 600-900 pounds, 10.75813.00; | 900-1,100 pounds, 10.50a12.75; 1,100 1,300 pounds, 9.50a12.75; 1,300-1,500 pounds, 9.25a12.25; common and me- dium, 600-1.300 pounds, 6.25a10.00, Helfers, good and choice, 550-850 pounds, 9.50a12.50; common and me- dium, 6.00a9.50; cows, good and choice, 5.00a5.75; common and medium, 4.00a | 5.00; low cutter and cutter, 3.00a4.00; | (bulls, _yearlings excluded) good and | | choice beef, 5.75a6.75; cutter to medium, 4.00a5.75; vealers (milk fed), good and cholce, 10.75a13.00; medium, 9.00a10.75; cull and common, 7.5029.00; stocker and feeder cattle, steers, good and choice, 500-1,050 pounds, 7.2529.00; common nd medium, 5.25a7.25. p—Receipts, 28,000 head; market steady to & shade lower; quality rather lain; desirable native ewe and Wether lambs, 8.00a8.25 to packers; top 850 for practically all grades; i paid by city butchers; bucks mostly 7.00a7.25; rangers unsold; bs, 90 1Partly extra b _payable in stock Expire. 2% Oct 1 terly or semi-annual tPlus 4% In stock. a Payable in 6% in stock 10% In stock. 1P mPlus 3% in stock. n P pounds down, good and choice, 7.75a 8.85; medium, 6.25a7.75; common, 4.50a 6.25: ewes, 90-150 pounds, medium to choice, 2.5024.25; all weights, cull and common, 1.50a3.00; feeding lambs, 60-75 pounds, good and choiee, 6.50a7.50, Markets at a Glance NEW YORK, September 22 (#) — Stocks weak; pivotal shares at new low for movement. Bonds irregular; Ger- man issues under pressure. Curb weal utilities lead decline. Foreign changes easy; German documents sag. Cotton lower. favorable weather and Southern_celling. Sugar easy; Cuban selling. Coffee higher; firmer Brazilian markets, CHICAGO, September 22 (#).—Wheat easy: record visible supply and bene- ficlal rains Argentina. Corn easy; good rains Indlana and bearish crop esti- mate. Cattle irregular, Hogs steady Py CHICAGO, September 22 (#).—De- spite transient rallies, the Chicago wheat | market tumbled anew in the late trans- actions and outdid bottom-price rec- ords going back 24 years. A disturb- ing late influence was word that the United States wheat visible supply had increased 3,947,000 ‘ushels for the last week and now amor :ted to 202.620,000 | bushels, a total nev:r before equaled. | The domestic visible supply & year ago was 188,343,000 bushels. Corn prices gave way with wheat. “Wheat closed nervous, !4-% cents a bushel lower than Saturday’s finish. Corn closed 7a-'s cent down, oats 34-1%3 cents off and provisions un- changed to & setback of 12 cents. WHEAT— High. Low el a0 857 September BONDS ON THE CURB MARKET. Sales in thousands. 8 Alabama Pw 4155 '67 9viy 3 Alabama Pow b5 ‘56, 10312 3 Alabama Pow 5s '68. 104 4 Aluminum Co bs DOMESTIC BONDS. Hign. Low Clo: 987 4 Appalach Pow 58 2 28 Arkans P & L 95 /56 10; 1 Arnold Pr WK 6s ‘4l 30 Asso_Electric 4'as '53 70 As G&E 4125 48 ww C 8; 6s m '33. 102% 4. 102 ent Bt P&L 5ias 133 W07 Chi Pn Tool 5'as 42 98 Sir Real 5las bas 53 9ila s 41 97 4728 K 60 100% ns Pub 645 '36... 9 499 Cont G & E b5 A ' 3 Continen Ol blas '¥ 3 Crane Co b8 “4U.,... 103 " 1 1 Crucible Steel ds "4). 1vila 4 Cuaany Pke 5'as /37 99 6 Det int Brag 628 ‘34 4l1a 4 Det Inter brdg ia 123 20 ww'n 9 2030. . tas 42 @ s L1031 a 65 '47... 103% 11 Guif Sta_Util 55 A ‘5810112 10 Hudson B_M&S 6s '35 1021 1 Hysrade Fd 6s A vgrade Fd 65 B 8 Indnap P&L 55 A '57 2Inland Util 6s '3¢... 98% 21 Insull Utilit 6s B '40 102 8s 148 9612 P 55 '57 98 C P&L Sias A '45 1033, 1 Kelvinator 65 '36 xw 903 2 Kopver G&C_5'as '50 10314 4 Lehigh P S 65 A 2026 1062 13 Libby McN & L §s '42 957 - $FsgEEEREEE SunEEcSnSiSEET S 2205338 222222222 10000 = 559553, a ntario P&L c P & L 7999900 £ © ) & " 88583 i v a Cen P&L 4% '17 I enn O Ed 525 B '59 10: 82! & L §13s 149 1037 'ug L 5s C '50 101'a ’; Quinsb G 5'as A '52 10: S 3323823302322833%! SIESTRE ogenSensSEuLs: 2882283 Ly 8128 83 93%a 2Uni Lo w Ry 65°A /5210315 1Uni Rwy Hav %28 '36 101% S Rubber 65 '33.. 93 83522 samm—Sauan-Se, <<<ccaac 2. > es Tex Ut estyac Chl 6as ‘37103 FOREIGN BONDS. 1 Brisbane City 6s '50. 95 . v . 981p i 97 1 Hin It B 7'gs AC. 63 80 2 Tsarca Hyd BI 75 ;32 CHIOAGO DAIRY MARKET. CHICAGO, September 22 (#).—But- ter—Receipts, 10,779 tubs; market steady; creamery extras, Sl‘,/f: ards, 38; extra firsts, 37a37ly; J4a35';; seconds, 33a33ls. ceipts, 14,189 cases; market weak; ext firsts, 26; fresh graded firsts, 24 fresh current receipts, 21a22; ordinary current receipts, 18a20, ON REGULATORY MEASURES By the Associated Press. Many measures dealing with economic | questions are scheduled to come up for consideration at the next session of Cmf.r:u Several of these appeared in the last session, and seek to tighten the regulatory powers of the Government in many directions, the majority of them authorizing regulatory commissions. For instance, at the last session the Senate Committee on Interstate Com- merce spent months conducting hear: ings in relation to radio and telephone control, various phases of rallway con- | solidation and the regulation of power the commission said, in effect, that holding companies were effectuating an ownership consolidation of raiiway fln! in some instances where the commission had declared that, from an operative viewpoint, such consolidation was not in public interest. A contrary viewpoint to that taken by the commission was strongly stressed to the effect that ownership of railway stocks, in whomsoever vested, in no | way abridges the authority of the In- terstate Commerce Commission to reg- ulate railways from the operative standpoint. An attempt was made during the last Close. | cOmpantes. | session to maintain the present status | of the main issues until such time as Bamytiy fe | Congress may match stride with the 3| taken at the next session. . ~ considering various proposals with re- | | Increase of 13.7 Per Cent for First s |ment in July even exceeds that of a The Senate Committee on Banking | and Currency, at the last session, was | intent on summary action in relation to | credit policies of the Federal Reserve System, but apparently came to the| conclusion nothing could be accom- | plished by hasty action, and authorized | & survey of this question to be under- | In the House the Banking and Cur- rency Committee spent several months | spect to branch, chain and group bank- ing. No definite decision was arrived | at, and this problem will undoubtedly be considered early again. The situation with respect to raflway legislation is similar in many respects. After years of considering legislative proposals to permit and expedite volun- try mergers, the House Committee on Interstate Commerce spent most of its time at the last session exploring the question whether or not the Interstate Commerce Commission's regulatory wers should be expanded to the regu- mlon of holding companies. In a re- port to Congress early in the session, progress of events. Stop-gap legislation was proposed to expand the Power Commission's authority to issue per- mits and to prevent delaying further railway consolidation authorizations by the Interstate Commerce Commission, and to stop the merging of unit banks into great holding companies. Government Control Bills. ‘The calendars of both houses will be crowded with bills to impose Govern- ment regulation upon business. One method proposed is that of licensing. The Watson bill Proposmg a compr hensive program of Government regula- tion of the coal industry, and the Borah-Summers bill are typical of this method. Mainly, however, the proposals would create regulatory commissions. Typical of these is the Couzens proposal for control of power service rates and the issuance of power company securities. Measures to regulate the routes and rates of air transport lines, similar to railway regulation, will be, also, before the new Congress. HOME ELECTRIC .USE ROSE 18.3 PCT. IN JULY Half of Year Noted by Banking Firm, Special Dispatch to The Star. NEW YORK, September 22.—The trend in home use of electricity for power and light was definitely upward for the country as a whole in July this year, according to an analysis made by Stone & Wester and Blodget, Inc., showing electric sales for domestic uses in July 18.3 per cent above sales in July, 1929, while domestic sales in the first half of 1930 were 13.7 above the 1929 period. The year ago, when July domestic sales were 143 per cent above July, 1928, totals. These figures are evidence that resi- dential sales of current have acted as & stabilizer of the power and light in- dustry, according to the bankers. Dur- ing a depression period, domestic sales | 3.5 of electricity help to maintain revenues and earnings which otherwise would register declines simjlar to those in rail- ds, manufacturing concerns and roa. other industries. The inc: domestic sales, the bankers feel, are largely due to the “inducement rates” initiated by a growing number of companies. These rates permit consumers to effect sub- stantial economies by making a larger use of current for various purposes and have attracted additional consumers in periods of depression because of the economies in household expenses which are possible by changing to electricity from other fuels or motive power, U. S. TREASURY BALANCE. ‘The United States Treasury balance announced today as of close of busi- ness September ‘19 was '$297,666,696.70. Customs receipts for the month to date ‘were $22,847,914. Total ordinary ex- penditures, $4,833,182.38 ODD ?er cent improve- | me! Washington Produce Butter—One-pound prints, 44a45; tub, 43a44. 35a36; Eggs—Hennery, ceipts, 27a28. oultry, alive—Spring chickens, large, 27a28; medium, 25a26; small, 25a2 Leghorns, 24a25; fowls, large, 21a2: small and medium, 18a20; Leghorn fowls, 15a16; roosters, 15; ducks, 15. Home dressed—Spring chickens, large, 33a35; medium, 32a33; small, 30a32; fowls, large, 28a30; small and medium, 27a28; Leghorn, fowls, 18a20; roosters, 18a20; ducks, 23a24; turkeys, 32a35. Meats, fresh killed—Beef, 19a20; veal, 18a22; lamb, 23a25; pork loins, 30; fresh hams, fresh shoulders, 22; smoked hams, 28; smoked shoulders, 20; bacon, 28; lard, in bulk, 15; 1-pound packages, 16. Live stock—Calves, 8al1; lambs, 8. Pruits—Watermelons, 60a75; canta- loupes, Colorado, 1.25a1.50; Persian ns, 2.50; honeydews, 2.00a2.50; oranges, 7.00a8.50; lemons, 6.0086.50; limes, per 100, 1.25; grapefruit, 5.00a 5.50; peaches, 2.00a3.00; pears, box stock, Bartletts, 3.00; seckels, 2.00; gnpes. Concords, 60; Thompson seed- ss, 1.50a1.75; Tokays, 2.00; 1.00a1.50; box stock, 2.50; damsons, Z-poeek baskets, 1.25a1.50; cranberries, Vegetables—Potatoes, 3.50; sweet po- tatoes, 3.5024.00; tomatoes, 2-peck bas- kets, 1.00a1,50; lima beans, 1.50; string beans, 1.25a1.75; Kkale, 1.50; spinach, .25; eggplant, 1.25; cucumbers, 1.50a 2.00; beets, per 100 bunches, 4.0085.00; carrots, per 100 bunches, 4.00a5.00; tur- nips, per 100 bunches, 5.00; per bushel, 1.50; corn, 75 ears, New Jersey stock, 2.00; peppers, 1.00; eggplant, 1.00; caulifiower, 2.50. current re- SEES TURN FOR BETTER. NEW YORK, September 23 (F).— . Reis, president of the Min- teel Co.. a subsidiary of the United States Steel Corporation, -ex- pressed the belief that a turn in the nerl'_l' bmmfi h:lt\lfilno‘n is at hand. perations af pl are reported at 82 per cent capacity, the highest since 1920, and indications int to a continuance of present conditions for some time. The plant-is now employ- ing 2,900 men. apples, | IS SEEN BY MOODY Business Expert Believes Bottom of Depression Has Now Been Reached. Special Dispatch to The Star. NEW YORK, September 22.— Busi- ness is not due for a marked improve- ment over the next few months, in the opinfon of John Moody, president of Moody’s Investors' Service, who today issued a statement or the - immediate general outlook. He declared, however, that the approximate bottom of the de- pression has already been reached. “We are now in the trough of the depression,” Mr. Moody said, “and the suggestion makes itself felt, both from the course of the autumnal! business this far and from a study of the funds mental causes of the depression, th: this trough may be in the shape of a rounded curve rather than V-shaped. “I feel practically certain that mat- ters cannot become worse, but the ap- parent broad character of the trough also forces the thought that they are not apt to get surprisingly better over the next two or three months. As a tentative conclusion, which can only be definitely confirmed by the events of the coming four or five weeks, I do not believe business is likely to become so much better before Winter that it will be broadly recognized as such. Im- provement that might occur in the in- terval is apt to be slow and gradual, To try to determine in advance which is or has been the lowest month in the whole depression does not matter much at this stage. The important poin® is. that we are near that lowest month right now, Either it is just behind or Just ahead of us, and although the subw sequent upturn may be ever so grad- ual in making its appearance, we are very close to such a subtle turn in con- ditions.” —e NEW YORK COTTON NEW YORK, September 22 (Spe- clal).—The cotton market was again under heavier pressure from producing sections today and with a weak stock market and new low records for the year in rtubber, silk, sugar and March Wwheat in Chleago, prices on the New York Exchange broke into new low ground for the season. As compared with 10.89, the previous Jow record, December contracts to-hed 10.85 and the whole lict closed at the bottom _at the lowest closing of the ;’f)"lrb' Spots were reduced 10 points to Cotton range: 383523337 January, ‘old January, arch sRpsnsnssk 583523335 BALTIMORE STOCKS. Special Dispatch to The Star. BALTIMORE, — Sales !gl'g‘gx g ouber 2y Last 4% "Title Go e Corp' | 40 Park Bank . 200 Standard Eaq 10 Union_Trust Co.. ifl Unit Porto Western M: Specializing in Established Business Investments JAMES Y. PENNEBAKER Nat.5291 1520K St. N.W. - First Mortgage Loans Lowest Rates of interest and Commission LOTS In our Odd Lot Department we will carry on conservative margin, accounts of ten shares or more. The latest quotations and information regarding Stocks and Bonds are always available. Mackubin, Goodrich & Co. Erablished 189 BANKERS Members New York and Baltimore Stack Exchange eAssociate Meémber New York Curb Exchange 1508 H STREET WASHINGTON, D. C. —has its own building —has six high-s your busin able rates 1001 Fifteenth St. EsTAB, INVESTMENT BUILDING —is open on all four sides — occupies a prominent down- town corner —offers a setting of dignity and convenience that should prove an asset to A d Severallarge, light, efficiently planned rooms.—also ‘suites— are available at very reason- H.L. Rust Company REDWOOD & SOUTH STS. BALTIMORE, MD. garage in the peed elevators . NAtional 8100 Thomas J. Fisher & Company, inc. Money on Hand to Loan on First Deed of Trust 6% Interest Reasonable Commission and Prompt Replies to Applications JAMES F. SHEA 643 Louisiana Ave. N.W. Associated Gasand ElectricCompany Dividend No. 23 on Class A Stock The Board of Directors has declar regular quarterly dividend on the Class A Stock "elone of busin: Serlp for fractional shares will not be ed, but will be eredited to the stock- ccount until a full share has umulated. Stockholders ean purehase Meient additional scrip to eomplete full shares. Payment fn stock will be made to all ive heretofore filed permanent divie dend orders. M. C. O'KEEFFE, Secretary. Beptember 18, 1930, First Mortgage Loan! Loans may be secured on de- sirable, income-producing Wash- ington real estate at a minimun cost. A SAFE INVESTMENT , , . will be found in our real estate Capital Resources, $3,800,000 24 JACKSON PLACE 1015 15th St. N.W. National 6131 Factory Branch.