Evening Star Newspaper, October 1, 1930, Page 15

ONBETTER BUYING Market Turns Upward Under Leadership of Public Utilities Group. BY JOHN A. CRONE. Bpecial Dispatch to The Star. NEW YORK, October 1.—Under the leadership of public utilities, in which | there has been a huge short interest, the | Curb Market today moved toward high- er levels. Heading the recovery in the utilities was Electric Bond & Share, which at one time was up more than 3 'points from Tuesday's close. Although Ameri- can & Foreign Power Warrants, repre- senting securrities of Bond & Share’s principal subsidiary, did not share in this upswlnf. numerous other issues im- proved, including American Superpow- er, Niagara Hudson Power and Middle West Utilities, Cit'es Service in fore- noon dealings proved to be one of the stronger ofl iscu-s. The opening was active, but price swings were not as wide as at Tuesday's opening and relatively few large blocks came out. Sales in the first two hours amounted to 330,400 shares, which com- pares with 590,300 in Tuesday's fore- néon trading. Ofl issues continued soft. Creole Pe- troleum, International Petroleum, Salt Creek Producers and Lion Oil were among the first to break to fresh low levels. Vacuum Oil responded to the announcement that one of its Texas wells_increased production. Standard ©Oil of Indiana, which is reportec to be conversing with several of the smaller natural gas corporations with a possi- ble view of acquiring such properties, braced. Official announcement that the Gov- ernment had awarded mail contracts to Western Air Express Corporation was recognized tardily on the tape, the stock declining 5 points before rallying. Transcontinental Air ‘Transport, how- ever, immediately advanced on the contract award. Stocks that were exceptionally weak late Tuesday because of the suspension for insolvency of their market sponsor, J. A. Sisto & Co., ralliec in early deal- ings. ORDER VIS éESTflRED | BY ALABAMA GUARD| Two Companies Demobilized After Protecting Two Colored Men Held I for Huntsville Murders. By the Associated Press. HUNTSVILLE, Ala., October 1. Order was restored here last night as two companies of Alabama National Guardsmen were demobilized and the two colored men they were called to protect were removed from the Madison County Jail to Birmingham. The colored men, C. E. Henderson and Rufus McCoy, were sought by a crowd which gathered around the jail and was dispersed only after the guardsmen loosed tear gas bombs and advanced with fixed bayonets. Henderson is held as a suspect in the of H. E. Ross, prominent | huntsville business man, Saturday night and McCoy is held for the slay- ing of J. C. Mathes, Phoenix, Ariz,; mvenna, salesman. McCoy is said by and throwing his body into the ‘Tennessee River near here. The colored men were carried to Bir- mingham after officers spirited them from the jail and announced that they ‘were en route to the State Penitentiary &t Montgomery. The troops were called out at the direction of Gov. Bibb Graves at Mont- gomery. Strength Feat Costs Life. KEOKUK, Iowa, October 1 (N.A. N.A) —Proving his strength cost Fred Sharon, an automobile mechanic, his life. He bet a feilow mechanic he floor. Sharon won his bet, but died a' few minutes later from the strain. . by North A - (Copyright, ufl.y Horth American News Salesin DOMESTIC BONDS. sands. High. Low. Neon. 3 Mlsbams Pu i%s 81 B mu WY FINANCI . CURB SHARES GAN- l ~Prev. 1930.~ Stock and High. Low. Dividend Rate. 13% 5 AeroSupply (B) 20% 16% Affiliated Prod Inc 24 11% Air Investors cv pf.. 1324 100 Ala Gr Sou (17). 9% 3 Allegheny Ga: 232 95 Aluminum Co L 7% 3% Amer Austin Car Am British & Con Am Br B fd shars Am Capital (B) Am Capital pf (3)... Am CP&LB (10%). Am Colortype (2.40). Am Com P A (b10%) Am Cyanamid (B).. Am Dept Stores. Am Equitles. .. Am For Pow (war).. Am Gas & El (11). 4 Am Invest Inc (B) Am Invest (war).... Am Laund Mach (4). Am Lt & Trac (23%). Am Mfg Co (4) Am Maricabo.... Am Mathis (B) w.1 Am Natural Gas. Am Potash & Ch Am Salamandra (3). & Am Superpow (1)... Am Superp pf (6)... Am Superpwr 1st(8) Am U &G B vte 40c. Anchor P F (b10%). % Anglo Chil Nitrat 4 Appalachian Ga: Arcturus Tube. . Ariz Globe Copper. Arkansas Nat Ga Ark Nat Gas (A). Ark N G cu pf (60c). Art Metal Works (1) Asso Dyeing & Ptg.. Asso Elec Ind (30¢). As80 Gas & Elec. .. . Asso GEE A (at2.40) Asso G&E (A) db rts Ass0 G & El ctfs (8 Asso Laundri Atlantic Fr & Sug. Atlantic Secur Corp. Atlas Plywood (2) Atlas Ut#i Corp. Auto Vot M ev pf p Aviation Cor of Am. . Bahla Corp. ..... Bell Tel of Can (8)..1 Blue Ridxe Cp (40c). Blue Ridge cv pf a3 Blumenthal (S).. Bower Roll Bear (1), Brazil Tr & Lt (h2).. Brill Corp (A) (85¢ Br Celanese rets. Brown F&W B 2 Buckeye P L (4).... Bulovacvpf (3%).. Cable & Wire A rets. 13 Cable & Wire B rets. 31 Cab & Wire pf(9%c) 314 Canada Marconi. ... Carnation Co (j1%). Celanese 18t pf (1%) Cent Atlantic States. Cent Pub Sve Aal Cent St El (k40c) Centrifug Pipe ( Chain Stores Stock. . Chat Ph Al nv (50c). Chicago Corp (The). Childs Co pt (7)... Cities Serv (g30c) Cities Serv pf (6)... Cley El Illum (1.60). Clev Tractor (1.60).. Colon Ofl 2 5% Col Ofl & Gas vtc. ... 55% 24 -Columbia Pic (f134). 6% 2% Com & Sou war 79% 170 Comp His Am Sh 1.91 19% 114 Com Wat Sv (b6%). % % Consol Auto Merch.. 2 Consol Copper...... Consol Dairy Prod. . Cons Gas Balt (3.60). Cons Gas Util A 2.20. 52% 43 1% 16% T 314 5% Cord Corp. 19% Corp Sec Ch (b6%). . 8 Corroon & Reynolds. 8 CosdenOil.......... 4% Creole Petroleum. .. 14 % Cresson Consol (4¢). 34% 11% Crocker Wheeler.... 1 % Crown Cent Petrol. 12% 9% CrCork IntA (1)... 4 30 511 *16 Cuneo Press (2%)... 95 85 Cuneo Press pf (6%) 4% % Curtiss Wright war. 2 1s Cusi Mex Minin 21% 6% Darby Petrolmn (1) 162% 60 Deere & Co (m1.20).. 2% De Forest Radio.... 15 Deisel W Gilb (1%). 4% Derby Oil Refining. . 9% 2% Detroit Alrcraft. ... 24% 14 Diamond Match new. 274 24% Dia Match cu pf (n). 23 8% Doehler Die Casting. 23% 12% Douglas Air (75e). 100 65 Dow Chemical (2)... 56% 31 DressSR(A) (3%). 44% 31% Dresser Mg (B) (2) 108% 41 Driver Harris new. . 2 Aluminum Co 52 104% 10412 ‘40 9 1 T G & 1Amer Rad 43 10 Amer Roll Miil 5s ' §Amer Eeating 6s P 0 00 00 80 09140000 = A3 1 BIAIRI 0 9 51 090008E22x 2090, udahy Pk t C Gas H o 9834 3 10334 23! gEnE s s B c 75 E Am 55 P 55 M 1Inter Pw 20 Intern Sec s '36 & Kopper GAC 5 17 Liby McN & 1. 55 142 2 42 9o1a 210013 10013 10012 €Minn P & L 4'as 'T8. 961; 0613 9Al5 1Nat P & L 65 A 2006 107% 1077 1077 NatB& Loy 9431 9417 943 s . - 2, 3 padl 9% 801, 8% 4135767 98 ' 98 9 Pow 65 50 105%, 105% 105% 55 D '66 10413 1043a 104% D_'56 99 55 '51 35 222222 o 5 poveswSBeveSnsnBnan 5B 99 S _._ I3 £3838 ngssse 00T oi 31, 1007 100 A 2022 1081 2 10813 65 '51 10215 1021, 1021, 103 32308 %S P&L 65 as & E & E 65 '66 103 2. thw d 55 '37 xw 88 88 tandard P & L'6s 57102 ~ 102 r 101 1007 83 337 100 100 ' 100 56. 1013 101% 101% s '34. 89 ' 89 89 . B1% 81 91 907 90% A''48 86 86 86 ..100 100 100 102 102 102 89 89 % 10415 1041 #° 93 5% 54 89 *60 104 3 Wes Penn 55 2030 wi 93 FOREIGN BONDS. 29 Brisbane City_6s 9% o B 8515 g.uni :; '1:"’- k3 .m ,I 8 =I "ll - B 61as 51 Co 6los A '53 Basin Con s 35 © Chile 75 '61 Saar Dubilier Cond & Rad Duke Power (j15) Duquesne Gas Cp wi. 2% Durant Motors. .. 5% Duval Tex Sul wi. 25 EastG&F Asso.... 44 18% EastStPow B (1)... 23 5% ler Electric Corp. 117% 63'% El Bond & Sh (b6)... 109% 103% EI Bond & Sh pf (8). 98 92% ElBond & Sheupts. 39% 19 Elec Pow Asso (1).. 16% Klec Pow Asso A (1) 42 Burop Elec deb rts. . 1% Evans Wallow Lead. 2 Fabrics Finishing. 7 Fansteel Product: 22% 12% Kiatrets (1.25)..... % Film Inspect Mach. . 12 Flintkote (A) (1%). 100 Florida P&L Dt (7).. 34% 11% Fokker Alrcraft. ... 9% 4 Foltis Fischer Corp. 22% Ford Mot Can A 11% 36 Ford Mot Can B t11s 6% Ford Mot France 28¢ 10% Ford Mot Ltd 37%e. 215 Fox Taeater Cl (A) 6 Franklin Mfg Co. 50 Franclin Mfg pf ( 18% Garlock Pkg (1.20).. 6% Gen Alloys (80c). General Baking Gen Baking pf (3).. n Capital Corp n £ Ltd ret (60¢). Globe Underwriters, Aberg Stores (1). Gold Coin (new)... 1% Gold Seal Elec new lden Center. .. Goldman Sach TC.. % Goth Knitback Mch. 29 Graymur Corp. 180 GrA&PTn-v 116% Gr A &P T ot (7). 10% 25 166% 100 1f Ol of Fa (1%). 18% Hazeltine Corp (2).. &% Hecla Mining (1)... 12% Houston Oil of Tex.. 5% Hudson Bay M &S.. 75% Humble Oil (2). .. 813 Hvdro Elec Sec (2).. 2% Hygrade Food Prod. 18 Imp O1l of Can (50c) 2215 Tmp Tob Gt Brit 18%¢ Ind Pipe Linen (13). % Ind Ter 111u Oil (A). % Ind Ter illu Of) (B). 94 Insurance Sec (1.40) f. Intercontinent Pet n 16% ot Petroleum (1). .. 30% Internat Super (1), 6% Internat Util (B). 6 interstate Equitles. 1'% Iron Cap Copper. ... 9% Irving Air Chute (1) 5% Italian Superp (A) Jefterson Elec (2). Kerr Lake. 121" Kleinert Co (1.60)). . & Kolster-Br (Am Sh). 434 35% Lackawanna See (4). 4% 1% Land Coof Florida. 1% 114 Landover Hold A 36% 21% Lane Bryant (2) 37% 22 Lefcourt Real pf 15 19 55 15 30 46% 19% 28228223222 £22233.38! ¥W—With warrants, Xw_Without warraits. | Wi-When issued. 30 Leh C& Nn (1.40) 1 Leonard Of1 11% Libby McNe! s 30% 17% Lily Tullp Cup (1%) 29 13 Lion Ofl Ref (2),... 556% 80% Lone Star Gasa (1)., 2 % 18 268 50s 6 399 9 91 1100 55 6% 5 6% 16 1Ry 72 % 1 2 7 81 6 1 1 1 1 125 T 58 1 5 2 008 152+ 15 6% 21 3 1 80 1 27 1 1 2 2 1 1 2 L TSI PP waanhBan Crown Cork pf(2.70) 2758 26 1 1 29 708 192% - 160s 119 - 3 5 = = oo anuonn men o mvaabuSansan THE EVENING NEW YORK CURB MARKE Note—All stocks are sold in one hundred-share lots excepting those designated-by the letter s (80s) (250s) which shows those stocks to be sold in odd lots only. Bales— Add 00, Open. High. Low. Close. 61 54 High, ~Prev. 1030.—~ Low, 354 Stock and Dividend Rate. Long Isld Lt (56¢). . Louisiana Lan & Ex. MacMarr Stores (1). Magdalena Synd..... Man-Bowman A 1% . Manning Bo B (50¢). Marion Steam Shov Util Asso. Mavis Bottling. Mead Johnson (t4%) Memphis Nat Gas. .. Mesabi Iron. . Met & Min Inc (1.20) Met Chain Stores. ... Mexico Ohlo Ofl. ... Mid St Pet vte B.... Mid WSt Ut (1%).. Mid West Ut (b8%). Mid West Ut A wa Mid West Ut B ( Mid W Ut cv pf xw Mid St Prod n (2)... Mid1d Nat Gas A 1.20 Midvale Co (4)...... MoKanPL (b10%). Mo Kan PLvtc. ... Moh H P 2d pf (7) Montecatini deb rt Mount & Gulf (8¢).. Mount Prod (1.60). . Municipal Serviice. , Nat American Co. Nat Aviation N 13 4 Nat Fam St b2 % Nat Fuel Gas (1).... Nat Investors. ..... Nat Pow & Lt pf (6). elson(Herman) (1) eptune Meter (A).. New Brad Ofl (50¢).. ew Eng Fuel new. , ew Eng Pow (2)... New Eng Pow pf (6). Newmont Min (f4).. Newport Co (2). @ N'Y Pet Royalty. N Y Rio & Bu Al N Y Tel pt (634). ... Niag-Hud Pow (40c) Niag-Hud Pow A w. ag-Hud Pow B w. . Niagara Sh, Md (40c) Niles-Bem-Pnd 125, Noranda Mines (2).. Nordon Mines, Ltd. . s No Am Aviat A war. NoAmL&P (b8%). % Nor Am Util See. ..., Nor & So Am Corp A. Nor St Pow A (8). Ohio Copper. ‘ Ohio Ofl n cu pf(6).. Oilstocks Ltd A 50c.. Oilstocks Ld B 50c Outboard Mot (A)... Outboard Mot (B)... Pac G&E 1st pf (1%) Pac Pub Sv (1.30)... Pac Western Oil. . Pandem Ol. . Pantepee Oil..... Paramount Cab Mfg. Pennroad Corp (20c) Penn Salt (5)....... Penn Wat & Pow (3) Petrol Corp war. .... 4 Philip Morris (A).., Pitney B P n (20¢).. Plymouth OIl (2). Premier Gold (24¢).. Prince & Whit (25¢). Prince & Whit pf (8) Prudential Invest. .. Pub Ut Hold (50c). . Publie Util Hold war Pure Ofl pf (6). Sale: Add 00, 3 29 " o @ N RN ANRA TR N RO BAN—mBRARA S S Ao .N - SO sinerenenB o an somRss e casee 8 Pyrene Mfg (50c)... R R Sh Corp (25¢)... Rainbow Lum PrA. Rainbow Lum Pr B.. Reiter-Foster....... Reliable St (b5%)... Reliance Int (A).... Reliance Manag. 4 Reybarn Co. Reynolds Invest. . Richman Bros (3)... Rock Lt & P (80¢), ., Roosevelt Field Ine.. Rossta Int Corp. Ryan Consolidated. . St Regis Paper (1)., e Schulte Un 5e-$1 St.. Seaboard Utll (50¢) . Seaman Bros (3). ... Sec Corp Gen (40c) . . Seg Lock & H (50c). Selected Industries. Sel Ind all ctfs(4%). Selfridge Store(27c) Shattuck Den Min. .. Sheaffer Pen (13). Shenandoah Corp. Shenandoah Cp (a Silica Gel ctfs. So Am Gold & P Sou Penn Oil (12%). SoCal Ed pf B (1%). SoCal Edpf C (1%). Southern Corp. SouthldRoyalty (60c) S W Gas Utilities. .. Spanish & Gen rets. , Spleg M St pf (615). . Standard Motors. ... Stand Of1 Ind (2%). Stand Ol Ky, (11.80) Stand Screw (8) Stand Silver Lea Starrett Corp. . Starrett Corp pf (3) Stein Cosmetic: Strauss Roth Stromberg-C Stroock & Co (3)..,. Stuta Motor Car. ..., Sunray Oil (40¢). ... Swift & Co new (2).. Swift Internat (234) Syracuse Wash Ma B Taggart Corp (1). Tampa Electrie (32). Technicolor Inc. . ... Thatcher Sec Corp Thermoid Co pf (7). 150, Tish Realty & Con Todd Shipyard (4) Tran Con Afr Tran Trans Lux DLFS.. Trunz Pork 8 (1.60). Tublzg Chatel (B)... Twin St NG A pt (1), Ungerlelder F Corp. . Un Oil Asso (32) Unien Tobaceo. ..... Utd Car Fast (60c).. Utd Corp (war)..... Utd Dry Docks. Utd EI Sv pr war. Utd Found b2-35 sh. Utd Gas Co (new). .. Utd Gas (war) . Utd Gas pt (7) Utd Lt & Pow ’ Utd Lt & Pow B (1) Utd Lt & Pow pt ( Unit Molasses, Ltd. , Utd Profit Sharing. . - U 8 Elec Pow ww... U 8 Elec Pow (war). U S Finishing. U S Foil (B) (1).... U 8 Gypsum (1.60).. US Lines pf (1).... U S & Int Sec 1st (5) U S & Overseas war. U S Shares Fin, Utd Verde Ext (2) Utah Apex (50c).... Util Pow & Lt (al1).. Util P&L B ctfs (al) Utility & Ind Util & Ind pf (1%).. Utility Equitle Vacuum Ofl (4)..... Veeder Root (2%). Venezuela Petrol. Vic Finan Cor (40¢). Waitt & B'd B 1.20).. Walgreen Co. ... Walker (H) (1). 1% Watson (J W) Co... 184 West Alr Exp (60c). 90 58 10% 4 17 21% 8% Dividend Dayment. *Ex dividena. tPartly extra cash or stock. b e 1n 8% in stock. & Plus 5 25% 6 Wil Low Cafe pf(4). Zonite Products (1). 193 176 16 9 s Received by Private Wire Direct to The Star Office Open. High. Low. Close. 3 36 36 36 1% 1% 1 1 12% 12% 12% ) W W 12% % 5 6% [ 80 124% 1% 63 5 1314 1451 [ 105% 6% 8% 6% 21 184 145% 1% 105% 6% 814 81 2% 293 14714 147% ) % 1057% 105% 7 7 814 s | cattle and vealers, % 10 M 10 rates in doliars based on last quarterly or semi-annusl iPlys 4% In stock. Payable in tock e Adjustment di in stock. h Plus 1% in stock. §Plus nd. { Plus 2% in stock. kPlus 10% in stock. m Plus 3% 45 stock. o Plus RATESON FOREEH LOANS HAY DROP Replacement of Two Issues by Lower Coupon Cer- tificates Noted. EY PRESTON S. KRECKER. Special Dispatch to The Star. NEW YORK, October 1.—Announce- ment of two foreign refunding loans in the American investment market on single day this week which sold on a lower interest basis than the original issues indicates that the day of high coupon foreign bonds is passing. Here- after our investors in foreign loans must be satisfied with & somewhat low- er income yleld on foreign securities than they have been accustomed to ex- ct. One of the foreign loans refunded this week was originally a 6 per cent issue of the Midi Railroad of France. It was replaced with a loan bearing a 4 per cent coupon. The City of Bergen, Norway, refunded a 6 per cent loan into & 5 per cent issue sold on a 5% per cent basis. Recently that same municipality refunded an 8 per cent loan into & 5 per cent issue. Foreign governments are taking ad- vantage of the current low money rates to reduce their interest charges by re- placing high-yield bonds with new is- sues paying less interest. It is prob- able that the market will witness a great deal more of such refunding op- erations within the next few years. The International Investor, a maga- zine devoted to foreign. securities, es- timates in its September issue that within the next five years a grand total of $700,000,000 of foreign bonds will either mature or become callable, with the result that they will either be paid oft for cash or will be refunded into new securities yielding less in- terest. NEW YORK COTTON NEW YORK, October 1 (Special) — Cotton prices were steady at the open- ing of the market today, fi\'e initial range being 2 points lower to 2 higher. The market was divided; one profes- sional group working for a technical advance and trade buyers placing orders under the. market. Private crop estimates put out today were bearish. Opening_ prices were—October, old, 10.20, up 1; October, new, 10.17, off 1; December, old, 10.43, off 2; December, new, 1040, unchanged; January, old, 10.55, unchanged; January, new, 10.52, up 1; March, 10.71, unchanged; May, 1087, up 1, and July 11.02, up 2. GRAIN MARKET CHICAGO, October 1 (Special).— The wheat market was slightly easler today, reflecting the weakness in Liver- pool. ' Good support was uncovered on the setback. December opened 78 to 783%; March, 81% to 82; May, 84 to 841y, After the first half hour, Decem- ber 78; March, 81%; May, 84%4. Corn sold irrcgular at the start and met good buying later with prices firm. December opened 79% to 797 ; March, 81 to 81Y%: May, 82is to 83la. After the first half hour, December, 79%; March, 80%; May, 82%. Oats were firm with ‘corn, December opened 371%; March, 39% to 39%: May, 41 to 40%. After the first haif hour, December, 31%; March, 40; May, 4114 Provisions sold off with hogs. | CHICAGO LIVE STOCK MARKET CHICAGO, October 1 (#) (United States Department of ~Agriculture) — Hogs—Receipts, 16,000 head, including 3,000 direct; fairly active, 10 to 15 higher; packing sows and light lights 15 to 25 higher. Bulk, 180-300 pounds, 9.50a9.80; top, 9.90; packing sows, 7.25a 8.25; light light, good and choice, 140~ 160 pounds, 8.90a9.40;- light weight, 160~ 200 pounds, 9.15a9.76; medium weight, 200-250 pounds, 9.509.90; heavyweight, 250-350 pounds, 9.3529.90; packing sows, medium and good, 275-500 pounds, 7.00a 8.25; siaughter pigs, good and choice, 100-130 pounds, 7.75a8.90. Cattle—9,000 head: calves, 2,000 head; active and strong to nigher trade on yearlings, especially better grade: |early top, 12.85; several loads conse. quently held above 13.00; weighty steers in excessive supply, weak to low- | er; other classes fully steady; slaughter steers, good and choice, 600-900 pounds, 11.00a13.00; 900-1,100 pounds, 10.50a13.00; 1,1 1,300 pounds, 9.25a12.50; 1,300-1, pounds, 9.00a12.00; common and me- dium, 600-1,300 pounds, 6.50a10.00: heifers, good and choice, 550-850 | pounds, 10.25a12.50; common and me- dium, ' 5.75a10 cows, good and choice, 5.25a8.00; common and medium, 4.25 a5.25; low cutter and cutter, 3.00a 4.25 (bulls, yearlings excluded); good, cholce beef, 5.75a6.75; cutter to medium, 4.0085.75; vealers (milk fed), good and choice, 11.00a13.50; medium, 8.50a11.00; cull and common, 7.50a8.50; stocker and feeder cattle, steers, good and choice, 500-1,050 pounds, 7.25a29.00; common and medium, 5.25a7.25. Sheep—22,000 head; fat lambs slow; few sales native around steady at 7.50a 8.50; bidding weak to unevenly on rang- ers; sheep steady; bulk ewes, 3.00 down- ward; late sales range lambs yesterda: 7.85a8.00; best, 8.20 to shippers; feeding lambs, stcady; lambs 90 pounds down, good choice, 685a8.25; medium, 6.00a 6.85; all weights common, 4.75a6.00; ewes, 90-150 pounds, medium to cholce, 2.00a3.50; all weights, cull and common, 1.00a2.50; feeding lambs, 60-75 pounds, good, choice, 6.50a7.25. SELLING FOR CONSUMERS. When a nationfl manufacturer ig- nores the chain store market to con- centrate on the wholesaler and inde- pendent retailer there must be an ex- cellent' reason for his action. That rea son, says Fayette R. Plumb in Nation's Business, is the fact that independents can give more than price-tag value to the customer. He explains just what this value is. A nail hammer costing 75 cents may 00- 500" '4 | offer the greatest value at that price to ol who uses a hammer only occa: sionally for rough work. On the other hand, one who uses a hammer fre- quently might very well find that over a long period it would be economy to ay $1.50 for a hammer more efficlent Pn use and with a double life. The professional mechanic or the tool lover who takes pride in his set of tools might receive sufficient value from the beauty and efficiency of a superfin hammer to pay $2 or $2.50 for it. ! These comparative values canmot be judged by appearances. It requires the experience and knowledge of the trained hardware man to bring out the different qualtities and to judge the comparative values to the purchaser. It is up to the merchants of the country to see that an ever larger por- tion of the merchandise sold has more than its tag value. Merchandise may be just so much material substance to a merchant, but his customers are a variable quantity. Every one of them has his individual wants, which need and deserve specia! attention from an intelligent merchant. Giving more than price-tag values to customers is a big job, calling for a resourceful, well thought out program. Even a chaln store can give price-tag value, but it takes more than a system to do bet- ter, It takes knowledge and mental activity on top of all the most modern methods. —_— CHICAGO DAIRY MARKET. CHICAGO, October 1 (#).—Butter, 176 tubs; 3 , 3612; extra frs rsts, 33a35; seconds, 31a32%; ipts, 7,405 cases; steady; 'STAR WASHINGTON, D. C., WEDNESDAY, OCTOBER 1, 1930 FINANCI STOCK AND BOND AVERAGES By the Associnted Press. From Yesterday' Three years ago, weekly aver. High, 1930. Low, 1930. High, 1929. Low, 1929. 8:30 Edition. BONDS. Month ago. Year ago Two years Three years ago, weekly aver. High, 193 Low, 1930.. High, 1929, Low, 1929. 10 Industrials. .. 941 FURTHER SELLING OF STOCKS BY FOREIGNERS IS EXPECTED BY CHARLES W. STORM, Editor the News Bervice of Wall Btreet. Svecial Dispatch to The Star. NEW YORK, October 1.—The break of average stock prices to the low- est level this year is due to two reasons: First, heavy selling from abroad; and secondly, steady liquidation by country banks of stocks which they have been carrying ever since the November crash for the account of customers. 3 In other words, those country banks which were so avaricious for business during the stock market boom that they usurped the functions of brokerage houses are now being forced to clean out their customers. It is reported in the Street that these country banks are to report to the Federal Reserve Board on October 4 next as to how much progress has been made in the process of liquidation. Foreigners Sell. Selling for the account of foreigners was the heaviest it has been in months. The offerings are being made on the supposition abroad that based on world- wide trade and business conditions American stocks are selling too high. Liquidation from abroad was most emphasized in high-grade railroad stocks of which the foreigners have large holdings. Those who handled a | substantial part of the selling orders yesterday stated that indications are| for further liquidation from abroad. Favorable News, ‘The only picce of favorable news re- celved yesterday was a report that a| huge syndicate of New York and Chi- cago operators was being formed to support the wheat market with the | approval of the Government. Public Utility Fight. A big stock market battle is raging | in the public utilities. Big professional | bear operators have been selling the | shares in substantial volume, especially | thosé issues which are distributed by the public utilities themselves. | Much is heard about the large size of | the short interest and this is indicated | by the heavy borrowing demand for stocks after the close of the market. | There is a large amateur short interest, | many of the members of which never | sold stocks short before. Oil shares sold off with the balance | of the list, although it is known that | leading executives of the industry are this week holding conferences with a view to further curtailing production of crude oil and gasoline. One of the biggest floor traders, who has been re A puted to have made huge profits on the short side, was reported yesterday to have been responsible for the selling which imparted pronounced weakness to Texas Corporation, which touched & new low, and Standard Oil of New Jerzey. The big professional operators, who have been prominent on the short side continue confident of their position and are talking much lower prices. . There has, however, been some gooll buying of stocks by banking institutions, This buying has been on a scale down so that it did little to stem the down- ward tide. (Copyright, 1030 by N * A 1 American Wews- nee.) What Is General Business? From the Nation's Business. S0 many pessimistic things have been said about the loss of business confidence that it is a liftle startling to discover a falth that does not need restoration. In voicing his own abid- ing belief, the president of the Stude- baker Corporation has done a timely service to the public, as well as to his industry. By way of prelude to vigor- ous expression of his practical optim- ism, Mr. Erskine asks “What is this mysterious - specter ‘general business'? Nothing more or less than the sum total of a great many individual busi- nesses. General business is good when a sufficiently large proportion of in- dividual businesses are good.” Castignation, rather than compassion, resides in his charge that “the greatest deterrent, the most vicious obstacle to recovery has been the attitude of most business men. They have been follow- ing the forecasters, wistfully waiting for that mysterious entity ‘general business’ to assert itself.” What is needed is more individuals working in an intelligent and aggressive manner to make their own business prosperous.” Confirmatory evidence of the improved position of business sentiment is appar- ent in the recent announcement of the R. C. A.-Victor Co. that it would in- crease its manufacturing schedule. When commenting on the engagement of 7,000 additional employes, President Shumaker is reported to have said: “Millions are being put into inereased production in the bellef that the pres- ent depression is psychological and false indication of the American pub- lic's buying power.” Sl Girls are being employed to finish lenses for lighthouses at Smethwick, England, factor~ Sketch of the Imposing Lobby AL MORRIS PLAN BANKS ‘ REPORT EXPANSION Surpassing all mflw figures and mearking their st~ cessive year of expansion, the 179 Mor- ris Plan Banks, compafies and branches situated throughout the country re- ported a combined loan volume for the first six-month period of this year of $125,203,095, it was announced today by Arthur J. Morris, founder of the Morris Plan and president of the Industrial Finance Corporation. Of this figure, $101,453,066 represents the total amount of loan and consumer credit volume of the Morris Plan in- stitutions proper, while the balance of $23,750,029 represents the installment finance operations of the General Con- tract Purchase Corporation, a Morris Plan affiliate. Investment certificates, representing | the savings of Morris Plan clients out- | standing _in these 179 institutions, totaled $95252.449, while aggregate re- sources were given as $200,134,885, with ;\‘j;pgl;; and undivided profits of $12,- STOCKHOLDERS SUED BY FIRM'S RECEIVERS Special Dispatch to The Star. BALTIMORE, October 1.—Forty= five sults against stockholders, who are alleged to have received dividends from the First National Co, after the firm had become insolvent, were filed here yesterday. Seventeen of the suits were instituted in City Court, 15 in Superior g;mfl and 13 in the Court of Common eas. The suits were filed by J. Kemp Bart= lett, jr.; Willlam L. Riggs and Joshua W. Miles, jr., ancillary receivers for the company in Maryland. The concern is a Delaware corpora= tlon, but maintained offices here, It recently was thrown into the hands of recelvers in its home State, the action being followed by a similar one here, ‘The stockholders are said to have re- ceived dividends ranging from $8 to. $14,875. The latter sum, it is lll!g:, was paid the Pennsylvania Surety .. Pittsburgh, from whom Bartlett, Riggs and Miles ask $50,000 damages. The Maryland receivers, who have taken charge of the company's assets in this State, were appointed recently by Judge Solter in Circuit Court. - $300,000 PROFIT MADE BY FORGERS IS CLAIM Detectives Investigate Cashing of Certified Checks Bearing Name of Well Known Racing Commissioner, By the Associated Press. NEW YORK, October 1.—The New York Sun says a gang of clever check ssers has cleaned up about $300,000 the last few months by cashing cer« tified checks bearing the forged names of Josaph Blume, well known “racing commissioner,” and other ers. Blue, his cashier and the Harriman National Bank declares his name was forged to checks totalling nearly $38,000, Police headquarters denied knowledge of the crimes, but has detectives worl on the case, the paper said. The gang—four in number—are al« leged to have presented 10 checks for certification at the Harriman Bank from July 3 to July 18, each with near-perfect imitations of Blume's signature. These checks were then taken to various banks for deposit and the money collected after ;hey nad passed through the clearing ouse, Soales Generous, Grocer Fined. CHICAGO, October 1 (N.ANA.)— ‘William Hardis, a grocer, got it and going and he says people are to please. Although his scales favored his customers by giving overweight, Hardis was fined $25 for having an inaccurate machine. i (Copyright, 1930. by North American News- paper Aliiance.) e i i Shanghai, China, is to have a new commercial broadcasting of Washington's Most Attractive Office Building The Shoreham Building —is the Washington home of leaders in business and the professions Because—of its ideal location—literally the very heart of the official and financial district of the National Capital. Because—of the practical plan, which lends itself so réadily to specific adaptation. Because—of the bright and cheerful rooms — with notable absence of dark corners and gloomy courts. Beceuse—of the refinements which enter into finish and equipment—crg ‘- ing pleasing environment. Because—of the service, which is personally directed by the Building Man- ager—studying the comfort and convenience of its occupants. 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