Evening Star Newspaper, October 3, 1930, Page 15

FINANCIAL. UTILITIES LEAD ADVANGE ON CURB| Rail. Group =~ Also. Shows Strength Following Ad- dress of Hoover. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, October 3.—Public util- ity and petroleum shares led today's slow Curb Exchange session, which was marked by & firmer undertone from the opening gong. Electric Bond & Share was up nearly 2 points and American Superpower was up about a quarter that amount by midday. . United Light & Power A’ gained nearly a pofnt and Cities Serv- ice was fractionally ‘higher. * Response to President Hoaver's speech was most marked in rail and utility circles, where it has long been oon- tended business could be carried on bet- ter if harrassed less by legislation. Following on the heels of the Presi- dent’s address came the announcement from Washington of the indefinite post- ponement of the Federal Trade Com- mission’s investigation into the utility industry. This latter development, coupled with the earning statement of Electric Bond & Share, brought buying into that issue around midday. Freed from the pressure of “under- the-rule” sales, transactions made neces- sary whenever a member is declared insolvent, the market's tone firmed. ‘There were 128 sales made under the rule Thursday, a record number, as a Tesult of two suspensions for insolvency. Dealings in the forenoon today aggre- gated 201,300 shares, compared with 255,500 Thursday. Natural gas shares were the first group to advance. This movement was due in part to rumored mergers and to completed corzolidations. In the former class were .ientioned United Gas, whose parent company, Electric Power & Light, is known to be work- ing out a series of acquisitions, and Standard Ofl of Indiana, which is said to be seeking several Texas natural gas concerns, In the latter classifica. tion was the announcement by H. L. Doherty & Co. of the purchase of Louisiana Oil & Refining Corporation for the account of Arkansas Natural Gas Corporation, a Cities Setvice subsidiary. Investment trusts, holding companies and trading corporations remained eon- spicuously weak .in forenocon trading. Among the holding companies Eastern States Power was off about-2 points. Securities General Corporation lost nearly 3 points and Selected Industries fell 2! points.. American Investors B equaled its previous low. Metals & Min- ing, which was affected by the suspen- slon of Piperno & Co., showed :l&'m of recovery, as did other stocks-sold “‘un- der the rule” Thursday. CHASE BANK REPORTS ADVANCE IN PROFITS Bpecial Dispatch to The Star. NEW YORK, October 3—Undi- vided profits of the Chase National Bank of New York, in the statement for September 24, were $4,800,448 larger than on June 2, 1930, the date when the Equitable Trust Co. and the In- terstate Trust Co. were merged with the Chase. The bank's undivided profits, as shown in the September 24 report, are $65,523,927 and combined capital, sur- plus and profits amount to $361,523,927. The deposits of the Chase on Sep- tem 24 were $1,852.205,045, or approx- imately $64,000,000 less than on June 2. Total resources amounted to $2432,- 434809, a decrease of about $119,000,- 000 since the merger statement. CHICAGO DATRY MARKET. CHICAGO, October '3 '(#).—Butter, 5,322 tubs; weak; creamery extras, 38; standards, 36; extra firsts, 3612a37; firsts, 321;a341;; seconds, 30a31%. - Eggs, 8,947 cases; steady; prices un- Poles DOMESTIC BONDS.: thousands. High. Low. Noon. 5 Alabama Py B w 4las o SAmer P & L 65 2016 108's 108'% 108Y4 7 Ame: Roll Mill 5s '48 1005, 100'2 100% 4 Amer Seating 65 ‘36 65l 85ii 65% 1Appalach Gas 5 967, 967» 967 8 Appalac Gas & 853, 85% 9217 921 8ile Bl i 88! 973 33 86 ° 86 86 1 5 C "60 105'2 1053 105% 7 Calif Packing 5s '40 101 1 101 35 Can Nat R E 35 1092 109% 109% 101% 101 ° 101% 54 811 Blia s, | nv 5 4125 A 8tas ‘38 i¢ & E S5 '80 4 Lails €175 750 ‘Wi 95 6 a5 .. 8 Hornetiau-sunsareEono. Q2ZZAZZZZORRRLLLLL Seidaraigdioanal ety OO it £ H Sean "‘El’ 35 .3'4 ga [~ = Do 3 S5ESS 20% Jepielelele] ) ot e 022 S T e @ seagna ! 3 TITEE 2 L '00; l!'flc 23:J888R RS, S .l PlL!lnnAA gd‘ 1 thw 80 Gus s s ae 38 1020 3323378 S04 a0t g2 81 by Stock and —Prev, 1930.~ and ll’:v I‘d’: Dividend Rate. 20% 16% Afliated Prod Inc.. 132% 100 . Ala Gr Sou (17)..... 38% 15 Afnsworth Mfg $2%. 1 Alexander Indust. 1% Allied Aviation. 7 Allied Mills (60c) 95 Aluminum Co Ltd 17 Alum Goods (1.20). 3% Amer Austin Car. 3% Am British & Cont. Am Cigar Co 35% Am C P&L (. 12% AmCP&L B (10%). 17% Am Com P A (b10%) 12 AmCyanamid (B).. 3 Am Dept Store; 10% Am Equities 30% Am For Pow (war). 104 AmGas&El ($1)... 7% Am Invest Inc (B).. 527 Am Lt& Trac (2%). 1% Am Marfcabo. .. 16 Am Mathis (B) w. 7% Am Natural Gas 87% Am Superp pf (6)... 94% Am Superpwr 1st(6) 6% Am U & G B vie 40c.. 6 Anchor PF (b10%). 15% Anglo Chil Nitrate. . 7% Appalachian Gas. T4 Ark Nat Ga! . 14 Asso Dyeing & Ptg. 4% Asso Elec Ind (30c) 38% Asso Rayon pt () 8 Auto Vot M cv pf pt 24% Aviation Cor of Am.. 44% Bancom Corp (1.60).. 3% Benson & Hedge: 17 Bliss (E W) Co (1).. 634 Blue Ridke Cp (40¢). 33% Blue Ridze cv pfad. 19% Blumenthal (S). 29 Brazil Tr & Lt (h2).. 21y Bridgept Mach (25¢) 53 Buckeye P L (4) 2415 Buftf N&EP pf (1. 31% Bulova cv pf (3%) 3% Canada Marconi. . 3 'Carib Syndicate. ..., 261 Carnation Co (j1%).. 19% Cent Pub Sve A al.75 17% Cent St El (kd0o)...., 4% Centrifug Pipe (60 214 Chain Store Devel 174 Chat Ph Alnv (5 24% Citles Serv (g30c)... 88 Cltles Serv pf (6). 3% Colon Oil. 5% Col Oil & Gas vtc. 31 Col Piet vic (f1%) % Colombia Syndieat 2% Com & Sot war...... 114 Com Wat Sy (b6%).. 1 Consol Auto Merch., 2 Consol Copper. 904 Cons Gas Balt (3.60). 19% Cons Gas Uti] A 2.20. 10 Consol Laundries(1) 4 Copeland PrInc A... 8 Cosden Ofl, 4% Creole Petr. ea % Cresson Consol (40¢) 11% Crocker Wheeler. ... 4 Crown Cent Petrol... 9 CrCork Int A (1). 30 Crown Cork pf(2.70) 3258 & Cuban Caneproptw. 14 16 Cuneo Press (2%)... 85 Cuneo Press pf (6%) . % Curtiss Wright war. 6% Darby Petrolm n (1) 11 Davenport Hos (2).. 6% DeH Air Ltd ret 50c.q 4% Derby Ol Refining. . 60 Deere & Co (m1.20)., 2% De Forest Radlo. ... 15. Deisel W Gilb (1%). 214 Detroit Aircraft. ... 14 Diamond Match new. 24% Dia Match cu pf (n). Dixie Gas & Ut <3 100 0100 e R 00 2000 00 o Some R ammen i Dow Chemical (2). 41 Driver Harris ne: 2 Dubilier Cond & Rad 140 Duke 7 Dug Fommmwman 4% Duval Tex Sul wi. 21 EastC&F Asso.. 93% East G & F Aspf (8). 18% East St Pow B (1 5 East Util Inv (A). 6% Eisler Electric Corp. 6314 El Bond & Sh (b§)... 109% 103% EI Bond & Sb pf (6). 98 92% ElBond & Sheupts. 39% 19 Flec Pow Asso (1)... 37 16% Elec Pow Asso A (1) 78% 28% El Pow & Lt op war.. 8% 4% Empire Corporation. 15% 5 Empire Fire In 24 % Engineers Gold 9 2 Europ Elec deb rts. 6 1% Evans Wallow Lead. 3% 2 Fabrics Finishing. o » D wulevwenasBBonn~ ann o o e 3 Foltis Fischer Corp. 6% Ford Mot France 28¢c 23% 10% Ford Mot Ltd 87%ec. 5% Foremost D P pf 1.60 24 Fox Theater O1 (A). 7 Franklin Ry Sup (4) General Baking. =P —Fank e 2% Gen Laundry Mach. . 9 Globe Underwriters. 1 Golden Cen : 1% Gold Seal Elec new.. 16 Goldman Sach TC .. 98 GuifOflof Pa (1%). 161 Hazeltine Corp (2) zuq,flmucs) (A) (2).. 5 Hollinger Gold (60¢) 26% Hormel (Geo) (2)... 12% Houston Ol of Tex.. 76% Humble Ol (2). 5« HudsonBay M& S 2% Hygrade Food Prod.. 18 Imp Oll of-Can (50¢) 26% Ind Ter 111u Ofl (A).. 267 Ind Ter Illu Ofl (B).. 14 Ind Fin ctfs (b10%). 59'% InsCo N Am (13). 95 Insurance Sec (1 i+ Intercontinent Petn 16% int Petroleum (1)... 30% Internat Super (f1). 3 Int Util war (new). . 6% Internat Util (B), 6 Interstate Equities., 5% Italian Superp (A).. 12 Johnson Motot. .. 1% Kirby Petroleum. Kolster-Br (Am 8| = B re e ® o Je e ans 35% Lacl 22 'court' Real pf (8). 30 C&Nn(1.40)., Leonerd Of 11% Libby MeN: 10 Lion Oll Ref (2).... 3% Loew’s Inc war).... 80% Lone Star Gasn (1). A B e R ote—All stocks are sold in one hundred-share lots L ';medon.nlb!fl by the letter s (80s) (250s) shows those stocks to be sold in i Sales— Add 00. ?:n High. Low. 2:30. THE EVENING STAR, WASHINGTON, D. C, FRIDAY, OZZTOBER 3, 1930. NEW YORK CURB MARKE ~Prev. 1930.~ High. Low. 5 1% 12% " 37 8 5% 5 10% 161 1% 8% 2% 21% 21% 16% odd lots only. Mapes C Marcont Ma 16 100% 105 Mid Roy NatlS T Zinc, Newport NI Philippe Prince & Prince & Rellance Reliance Rellance Reybarn 8t Regls % Saxet Co Sec Corp Selected 8 W Gas ec Elec Foil « 8% yment *Ex dividena § I & e Stock and Dividend Rate, Louisiana Lan & Ex. MacMarr Stores (1). Magdalena Synd. ... Util Asso. Mavis Bottling. Memphis Nat G Mer Ch & S (1.60). Mesabli Iron. . Met & Min Ine (1.20) Mid St Pet vte B Pennroad Corp (20¢) Penn Mex Fuel (2).. Penn Wat & Pow (3) Peop L& P A a2.40. Philip Morris Ing 4 Philip Morris (A) Partly extra ayable in & " Recstved by Private Wire Direct to The Star Office Bales— Add 00. Open. High. . 1 1% bed 12% ) 40 8% 6% % 18% 16% 1% 5% 24 21% 26% 18 Mg (13%). I Mar (38¢). ev pf (2). Mid St Pr 2d pf. Midld Nat Gas A 1.20 Midland Utd (b§%).. Midvale Co (4 Mount Prod (1.60). Nat American Co. Nat Aviation.... Natl Banksyc (5) t B & Sh cp 50c Nat Fam St b23 % at Investors. ..... ¥at Rubber Mach (1) Sec A f50c.. at Sugar N J (2). Nat Transit (1) Nat Unfon Radi Nevada Cal Elec. 4 New Brad Oil (50c 15 New Eng Fue] new. . New Eng Pow f (6). (12%).. Newmont Min (£4).. Co (2) N Y Pet Royalty. N Y Pow & Lt pf (7). N Y Rio & Bu Alres. . Niag-Hud Pow (40c) -Hud Pow A w.. g-Hud Pow B w. . gara Sh, Md (40c) Niles-Bem-Pnd 2%, ipissing (30c)..... % Noranda Mines (2).. Nordon Mines, Ltd No Am Aviat A wi Nor & So Am Corp Nor Europ 011 Corp. 4 Nor Ind P 8 pt (7). or St Pow A (8) Nor St Pow pf (7) N W Engineer (2). Ohio Copper. .. . ©Ohio Ofl n cu pf(6).. Oilstocks Ltd A 60c.. Overseas Secur (1).. Pac Fin Corp (1.32).. Pac G&E 15t pf (134) Pub Sv (1.30).... Western Oil. Pandem Ofl. Pantepec Oil Paramount Cah Mfg. Parke Davis (11.65). % % 105% 7 6 16 287 2814 13% L) 2% 31 10% 20% 724 28 i 12 (L) B t1. 14 Pitts& L E (110) Plymouth Oil (2). i Premier Gold (24c¢).. Whit (26¢). Whit pf (3) Prod Royalty (f1).., Propper McCallum. Prudential Invest, Pub Ut Hold (50¢).. Public Util Hold war Pure O11 pf (6). R R Sh Corp (25¢). Reiter-Foster. . % Rellable 8t (b5%). Int (A). Int Cor (B). Manag Co.. Reynolds Invest. ... Rich Ofl Cal pf (1%) Richmond Radiator. Rossia Int Corp..... Royal Corp pf(11.80) Paper (1).. Salt Creek Prod (2).. Schulte Un fo-$1 §t.. Seaboard Utll (50e). Gen (40¢) Seaman Bros (3). Seg Lock & H (50¢). Industries.. 4 Sellndallctfs(4%). Shenandoah Corp. ... Shenandoah Cp (a3). Sierra El pf (6) Sim Bd cv pt-(3 Smith (A 0) (2) So Am Gold & Plat. SoCal Ed pf B (13% ¥ SoCalEd pfC (1%). Southern Corp. SW Dairy Products Utilities, Stand Inv nf (5348). Standard Motors. ... Stand Ofl Ind (2%) . Stand Ofl Ky, (t180) tand Oil Ohio (233). Stand O Ohlo pf (7). 1108 Starrett Corp pf (3). Stutz Motor Car Sunray Oil (40¢). Swift & Conew (2).. Swift Internat (2%) Tampa Electrie (32). Technicolor Ine. . ... Teck Hughes (60c).. Texon Ofl&Land (14) r) 3 1 Tung-Sol L pf (3)... Twin St NG A pt (1). Un N G of Can 11.60. td Chem pt (3). rvice Utd Found b2-35 sh. Utd Lt & Pow A (1), Utd Lt & Pow pf (8). nit Mollasse: Dairy (B) Ltd Pow ww. .. Pow (war). (B) (1). psum (1.60). 8 & Int Secur, U S Lines pf (1). Utah Apex (50¢) Util Pow & Lt « Vic Finan Cor (40¢). Walgreen Co. .. Wadker (H) (1), Wenden Copper. West Alr Exp ( Western Md pt. Zonite Produeta (1). Dividend rates in doliars based on last quarterly or semi-annusl e 1 20 80s 100 3 . 9% 8% 9% $Plus 4% in stock. o P justment _a! n toc! L £ Plus % 1 b Plys 1% in_stock. 16% 'Tn “Rock. "m Flts ‘3% in *stock. o Plus Wall Street Briefs By the Associated Press. Loadings of the poultry-car division of the North American Car Corpo-|4d ration are substantially ahead of last year. Indications from poultry-pro- ducing areas, the corporation reports, forecast continued increase during the remainder of the year. As a result the North American's North Judson, Ind., 1 Wes Tex 0% A t Bk Co f B car repalr shops have been reopened. The statement of the Reserve ended October 1 showed of $620,000, which included $504, from Brazil and $116,000 chiefly from other Latin American countries. Exports con- sisted of $1,000,000 to Canada d $965,000 to Venezuela. Gold ea ed for forelgri account showed a decrease | of $3,092,000. to close the New York mng on Oetober- 11, the Eat~ urday oreceding Columbin day, now bears signal a majority of the membership. The National Metal Ex- ‘change has voted close October giving that exchange a triple holiday, The Stock Federal of New York for the week | $5 Pittsburgh and $5.10 Gary, Ind. The as Columbus day, October A $6,000,000 gain in contemplated public projects increased the money value of proposed enginee: construc- tion announced throughout country uring - the past 'su& to $50,437,000, compared with $46,510,000 in the pre- ceding week. 1564 gy will be observed Mon- 13. —_— " Tin Plate Reduced. NEW YORK, October 3 (#).—The American Sheet & Tin Plate Co. has opened its books for the first half of 1931, on which tin plate is quoted at prices represent a reduction of 25 cents & base box and are effective October 1. They are the lowest since April, 1923, when the price was advanced to $5.50 from $4.95. SILVER QUOTATIONS. le YORK, October 3 (4).—Ber sil- 11, ‘Work on several government flood- schemes was startec recently in itrol Ty DIVIDEND DECLARED. NEW YORK, October 3 (Special).— Directors of American Machine & Foundry Co. have declared an initial quarterly dividend of 35 cents a share on the new common stock and an extra dividend of 5 cents a share, both pay- able November 1 to stock of record Oc- tober 17. In addition to this, an extra dividend of 20 cents a share was de- clared, payable December 1 to stock of record November 15. — PARIS BOURSE PRICES. PARIS, October 3 (#)—Trading was quiet and prices were steady on the Bourse toda; Three per cent rentes, 88 francs 50 centimes. Pive per cent loan, 101 francs 85_centimes. Exchange on London, 123 francs 824 centimes. The dollar was quoted at 25 francs 48 centimes. . Cotton yarn; produced in ntina last year weighed nearly 9,000,000 pounds. Ilaly' lhl%haud.lnl industry, m }n.rly ‘&hc district, is - ng. 4 IGAINS IN BUSINESS AGTIVITY REPORTED Leaders of Various Industries Find Gradual Pickup In Sales Volume. BY J. C. ROYLE. ‘The businesses of the country in gen- eral have put their houses in order, but they are still having some difficulty in getting customers to move in. Leaders in various industries report today that business is gaining and that prosperity is beginning to sidle back toward the center of the stage. Retail- ers in general are preparing for the rush when the buying trend really gets started. This is indicated by the num- be of buyers in the trade centers who are ordering stocks for Fall and Win- ter demand with much more freedom than has been evidenced for many months. Further indication of the trend is seen in the car estimates made by the regional advisory boards. Thess boards forecast the number of freight cars which probably will be needed during each seasonal period in their districts. ‘While the number required by shippers in other parts of the country will be low, the requirements of the Atlantic States are placed at 4 per cent higher than at this time in 1929. This district is composed of manufacturing States and the outgoing shipments indicate a fine volume of buying of finished and semi-finished products. Commodities Remain Low. Commodity prices still are decidedly low and showing little signs of immedi- ate improvement. Copper has touched the 10-cent level and prices of copper and bronze goods have been cut in con- sequence. Tire prices are low, as are other rubber goods. Ymprovement in the coal industry is attributed largely to_seasonal influences. Power consumption, however, has started to pick up and the amount of current being used by industrial con- cerns is very satisfactory to the utility companies. Use of gas 1s also increas- ing and this is heavier than the seasonal demand usually requires. The shorten- ing of the days, requirmg additional electric current for lighting, is always & factor at this time of year. Demand for meats of various kinds has been spurred by the cooler weather this week and sales abroad have shown a fair amount of improvement. The Jewith holiday affected beef sales in some localities. Grain prices made no startling changes and other foodstuffs were steady. Construction of highways is at its gelk right now, but building of homes decidedly elack and the construc- tion of public buildings and commer- cial edifices is not more than holding its own. This in itself, however, is a hopeful sign, for usually at this time of year there is a decided drop in building construction. Automobile Industry. ‘The automobile industry will not dis- of as many cars this year as was anticipated earlier, and the total will be well under the 1929 level, but none the less a large number have been bought. The main factor was the failure of replacement demand to stand up. However, there is only just s0 much wear in any automobile and the industry knows that present ma- chines will have to be replaced even- tually. It realizes that when this starts business will come with a rush and it is in a position to increase output with- out delay. The same may be said of the steel industry, elthough steel business has suffered surprisingly little in the last year. There is a slight monetary re- cession, but even the most pessimistic do not anticipate this will continue. The demand for clothing is beginning to pick up, except in the work clothing lines. (Copyright. 1930.) NEW YORK COTTON NEW YORK, October 3 (Special).— Cotton prices dipped 8 to 20 points at the opening of the market today, under a flood of selling orders, most of which were concentrated in distant positions. Private estimates of the next Govern- ment production report showed that an increase is expected. However, there was satisfactory trade buying on the scale-down today. Opening prices were: October, old, 10.33, off 8; October, new, 10.30, off 13; December, old, 10.57, off 17; December, new, 10.53, off 13; January, old, 10.67, off 18; January, new, 10.62, off 18; March, 10.77, off 20; May, 10.97, off 13, and July, 11.16, off 16. GRAIN MARKET CHICAGO, October 3 (Special).— The wheat market was lower today un- der selling influenced by the weakness in Liverpool, but prices recovered much 7| of the decline in the next few minutes under good buying by Eastern houses. December opened 81'4 to 803, March 84 to 833, May 87% to 88. After the first half hour: December, 81%; March, 84%; May, 87%. Corn started lower with wheat, but rallied later. December opened 82% to 83; March, 841 to 84%; May, 86, to 86%. After the first half hour: De- cember, 83%: March, 84%; May, 863;. Oats’ followed the trend of other 39%; March, Provisions were lower. $20,000,000 Plant. NEW YORK, October 3 (#).—The Pittsburgh Plate Glass Co. is to build a $20,000,000 plant at Marysville, Mich. DIVIDENDS DECLARED NEW YORK, October 3 (). EEES £ 22223 BB F S B B ings County Tr. coln “Tel A iss VUt $6 i o G & E pr In ew Bdfd G & Ed jar 18 pf &E A elloge "Co. eystone Tel =22 ELELELS Basaden A No 1l (£100 Do. (no par 35299 82 & Sep2id Nal Bs d s vem;&n 175 v i 31 St | doubt affected . 7 Iy Am iegel May Stern AR e X up " Port Cem ' A3 acony P B pr.$1.87 Ltd pf L7% B BamEr L SeFTEag Safn 0000ED D006 PO DDOOLEEDOOOOCHOOLOD: HOOPOPEODOPOOLD: POZF aymor: est P ¥ me.sus SESES B2 Srrz¥.cSESSRSsseRuemesesscoussss.y U TN - STOIOREOCHOIOTON -y 0t reared. Jantsen Knit Mi.T8¢ Q Nov. Stoek. Jantben it MI.100% ... weeeene Omitted. AEasle 8¢ @ Due oet. 1, STOCK AND BOND AVERAGES A S o g THURSDAY, OCTOBER 2. By the Asseclated Press. High, 1929. Low, 1929. POTATO SHIPMENTS IN HEAVY VOLUME Prices Well Maintained Slow Market—Quality Reported Good. in Potato shipments are increasing as usual at this time of year. Pully 1,000 carlots «daily moved during late Sep- tember and early October, says the United States Department of Agricul- ture, Bureau of Agricultural Economics, market news service. Principal mar- kets still report supplies moderate as a rule, but rather liberal in Boston an Midwestern cities. Demand continues fairly good, and prices show a nearly steady range. Early varieties from Maine sell in Eastern c mar- kets at $1.75 to $2 a 100 poun and reached $2.50 in a few Southern cities. Green Mountains ranged $1.85 to $2.25 in the East, and mmy”llm(.)c;:‘e‘: stock sells around $2 in early 5 at country shipping points are fairly well maintained in the slow market. Presque Isle, M quotes bulk Green Mountains at $1.35 per 100 pounds. The quality of Maine potatoes is running surprisingly good, according to field reports, but yields are from one-third to one-fourth below those of Jast year, most of the vines having| been killed by blight. Aside from rot, which is being closely watched for in grading, there appear to be no serious defects. Stock is running from me- dium to large size and fairly clean and bright. Potatoes appear more able to resist bruising, as compared wih_last season. Shippers consider the official September estimate production close to the fact and expect few changes for | Maine in the October report. Estimates of carlot shipments for the State rln's mostly from 40,000 to 45,000 cars, com pared with 61,000 last season. Midwest Crop. tato crop in the Middle West hl?‘:u?loered a great deal from dl;sy! weather and the quality is more x(‘;r i irregular, with a large proportion of No. 2 stock in some sections. Pr\.c:ts have been higher than in the l‘ 3 growers having been paid over $2 per 100 pounds. The Far Western cropdo%; pears to be good. Idaho is QIWMM‘“ show over 30,000 ears and Col - may ship more cars than last unwi There is a good crop in the ‘Northwest and growers in Washington have In;n selling at about $1.50 per 100 pounds. The potato market on the whole is con- siderably lower than last year, despite e ShorL e &P mmodiies has no decline in price o pom% mm‘;et ’:‘; extent. good deman: ;?::?:hem potatoes is expected from the droughty Tegions of the corn belt. Po; tatoes in Western New York are nol very important from a shipping stand- point as yet. Very few cars have been loaded in the important producing sec- tions. Vines are still growing, but are turity. mgmm Relyn to be recovering a little from recent low prices. Some f.ob. sales in Western New York reached $1 per 100 pounds for yellow stock. two inches and larger, around the 1st of October. Some dealers in producing sections report considerable increase in the demand, with -u’huy higher prices. New York, Philadelphia and. Boston have been heavy receivers of Eastern onions recently. Shipments from all sources have been averaging about 200 cars per week in early October. Sup- lies are moderate in most large citles, ut liberal in Baltimore and City. A slightly upward price wndem.;y is reported in New York and Philadel- phia. s York yellow varieties bave been | sel“xe:‘g’ in prilZClpll markets at $1.25 to $1.50 per 100 pounds and Midwestern stock at ebout the same range. Towa Reg Globes brought $1.10 in St. Louis an Midwestern white stock 50 to 75 cents per 50 ponuds. Markets in Western New York producing sections have advanced 5 to 10 cents per 100 pounds since the first of the month, but little chan[erdls reported in Michigan and other cent: producing sections. Cabbage Shipments. % ments of cabbage lately have bees:‘xpsmer heavy from New York, Wis- consin and_Colorado, averaging about 175 cars daily, but supplies remain 1ib- eral in most Eastern cities and light in Philadelphia. The price tendenc: has been upward this month, with jobbing price of New York round cabbage $18 to $22 in the East and Danish cabbage at $20 to $25. Prices are a little higher in Western New York producing sections, but about steady in Wisconsin and in Northern Colorado. A great deal of cabbage this year shows the effect of dry weather resulting in small sizes and poor market appearance. ‘Not much activity apepars in the car- rot market yet. A few sales at 65 cents per 100 pounds in carlots are reported from the Rochester district in Western New York. Demand is light. Celery markets also have been quiet and prices at low levels but showing a slight tend- ency to advance early this month. Har- vesting of the golden self-blanching type began in Western New York eerly in October and movement into cold storage became active. This section is a leading place of shipment for cabbage, onlons, celery, toes, lettuce and many fruits. Sweet potatoes are only in moderate supply and some markets report light receipts. Demand is fairly good. Prices have shown an upward tendency lately, with gains of 25 cents per barrel on Virginia yellow stock in some markets. The general range in early October was $350 to $4.35 per barrel in Eastern markets. Bushel stock from New Jer- sey sells at $1.25 to $1.75 and sweet potatoes from Delaware and Maryland at $1.25 to $1.50. Some sweets of rer grade sell as low as $2.25 per Barrel, “The position is strong for good stock on account of the light general production and the moderate output of some other vegetables. Much of the Eastern apple move- ment 18 in the basket pack, the later varieties, packed largely in barrels, not having started yet, although there are carlot quantities of barrels going into storage. The apple market continues rather sluggish. Prices of standard va- rietles in hel pack range from $1 to $1.15 in Western New York, $1.25 to $1.50 for most varieties in Western Michigan and West Virginia and $1.15 to $2 in Pacific Northwest cing sections. eell than " most Western vareties on account of ¢ Hpeld with $1.50 for Greenings. The Green- ings sell at $1.15 In Western New York and McIntosh at $1.50. Total apple shipments are heavy, approaching 1,000 cars daily, but much of the activity is in stock for cold storage. Market sup- plies are liberal in most consuming cen- ters and demand rather slow. Prices hlv:' not changed much several weeks. Grape Prices Lower. Prices of grapes have been a little disappointing to growers, in view of g-xenl light production of other fruits. ncords and Niagaras have been sell- ing at $35 to $40 per ton in Western New York, which is about the range of the best California fruit in produe- ing sections. Demand has been siow and markets rather weak, but better conditions are looked for with the cooler ‘weather. Moderate supplies of Eastern grapes are the rule in most markets. New York, Ohio and Pennsylvania Con- cords bring 10 to 13 cents per two-quart basket in the large cities; Delawares and Niagaras 12 to 15 cents. The peach season is about over, and d | most shipments now_ arriving are from storage. New York Elbertas bring $1.50 to $1.75 per bushel in producing sec- tions. Cooler weather slows down the demand. The pear market has shown no at change so far this month. Bartletts sell at $1.25 to $1.40 per bushel at Western New York country shipping points. These are from eold storage. CHAIN STORES WARN AGAINST SALES TAX Public Is Informed That State Levies Will Increase Cost of Living. BY WALTER BROWN. Written for the Associated Pres CHICAGO, October 3.—Chain store operators have sent out their figurative Paul Reveres to warn all chants against the growing practice of State Legislatures to levy sales taxes and extra license fees. The warning lanterns were hung out at the National Chain Store Associa- tion’s Convention here, with such nota- bles as Silas H. Strawn, former presi- dent of the American Bar Association and an_executive of Montgomery Ward & Co.; Prof. Robert M. Halg, economist of Columbia University, and William Nelson Taft, editor of Retail Ledger, serving in the belfry. ‘While the speakers agreed sales and license laws generally were aimed at the chains, they concluded that eventu- ally the tax levy would include most re- taflers. The example of Georgla was cited. There a gross tax was levied, with exemptions to stores during less than $30,000 a year. Agitation then de- veloped for the exemption to be dropped to $3,000, State officials contending the act did not raise enough revenue. The ostensible purpose of the sales tax, said Strawn, is to raise revenue, “but in reality to penalize or drive out of business the chain store.” Prof. Haig said “there undoubtedly is a widespread tendency to pass puni- tive taxes, deliberately designed to pun- ish, cripple and repress the chain stores.” “It may be some years before sales taxes in general achieve the same pro- portion spow attained by the gasoline tax—3.86 cents per gallon on an age, or a sales tax equivalent to more than 22 per cent of the retail sales, said Taft, “but that's the direction in which they are headed, as a direct re- sult of the chain-baiting influences which have been at work during the past few years.” Taft concluded that the residents of the sales-taxing States must bear the ;l':;n in the form of increased cost of 8. BROKER LOAN TOTAL DROPS $159,000,000 Lowest Figure Since 1927 Is Re- ported by Federal Re- serve Bank. P AR Special Dispatch to The Star. NEW YORK, October 3.—The wi statement of the Federal Reserv:eko]lz brokers' loans for the week ended Octo- Der 1 showed a decrease of $159,000,000 to a total of $3,063,000,000, which is the lowest since the week ended July 20, 1927, when the figure stood at $3,058, 974,000. For the week ended Septem!| g:njo:xn:t;teo;ge nchg,in.ooo.nun and a ac 6,804,000,000, N(i?l’d h’%h for all time. 5 0ans for own account were $1,834,- 000,000 this week compared with $1,721. 000,000 2 week ago, loans for® out-of- town banks were $602,000,000, against $782,000,000, and loans for account of others were $627,000,000 contrasted with $719.000,000. Demand loans made up $2.453,000,000 of the total compared Wwith $2,639,000,000, and time loans were :,22?:‘000.000 against $583,000,000 last The New York Stock Exchange also | th announced its brokers’ loans figur the month of September sho le: {gf tal as of the last day of the month of $3,481,452,761 compared with $3,598,- 633,069 as of August 30. Pe?i‘grea I“lg::?rv“nt djr;!:fl ltn the New York e c 14 e Temains at 215 100 PER CENT STOCK DIVIDEND DECLARED SD;;II! Dispatch to The Star. EW YORK, October 3.—Di of Jantzen Knitting Mills h.l\:-“tggf clared a stock dividend of 100 per cent and have voted to increase tg: cash dividend rate on the present stock from $2 to $3 a year, beginning with the quarterly payment to be made on No- vember ‘1, 1930. The stock dividend and the increase in the cash disburse- ment are recognition of the company’s earnings for fiscal year ended August 31, Net earnings for the fiscal year ended August 31, 1930, totaled $699,156, equal, fter preferred dividends, to $6.57 per share . on the 100,000 common s now outstanding. Net earnings for previous year ended August 31, 1 fotaled 8646828, equal, efter préferred dividends, to $6.10, on the 100,000 common shares 3 mmm“mrdm s & favorite FINANCIAL. ] STOCK APPRAISAL VALUE SHOWS DROP Effect of September Decline in 100 Issues Revealed by Survey. —_— Special Dispatch to The Star. October 3.—The market Tepresentative common stock issues declined $3,961,087,000, 13.3 per cent, in September to $25,878,~ 239,000 at the end of the month, ac- ling to Frasier Jelks & Co. marl value tl group on September 130 was but 59 per cent of the appraisal on August 29, 1929, the peak of the bull market. The total is 7.7 per cent above the absolute lows registered on Novem- ber 13 of last year. recession was recorded in the rails, which lost 7.1 per cent. Next to the amusements, the elec- trical equipment issues show the largest depreciation, declining 17.6 per cent. Other larger losses were 17.3 per cent in the mines, 16.5 per cent in the mot- ors, 16 per cent’in the ofls, 15.5 per cent in the chemicals and 13.8 per cent in the miscellaneous industrials. Decreases in Other Groups. Groups showing smaller decreases in value were the rails, 7.1 per cent; the steels, 8.7 per cent; the foods, 10 per cent; the railroad equipments, 11.4 per cent; the utilities, 12.2 per cent, and the merchandising shares, 12.3 per cent. The oils, the mines, the motors ard the merchandising grouns were selling lower at the end of September than on November 13, 1929. All the other groups were higher. As compared with the highest prices recorded at the end of any month dur- Ing the past two years, the mines were off 652 per cent (from August 30, 1929); the motors were down 60.8 cent (from November 30, 1928); the merchandising stocks were 59 per cent lower (compared with August 30, 1929) and the amusement group has lost 54.5 per cent (from April 30, 1929). Price Changes by Groups. ‘The following table shows the extent of price changes by groups during the month of September: Aup3s, Sept.io. Per 1930 80" eent ). ) e §aisaaesess 5 Amusements. Totals ......529,839,306 Baltimore Bank Clearings. BALTIMORE, October 3 (Special) — Bank clearings in Baltimore for Sep- tember totaled $367,056,462.54, as re- ported by the clearing house. compared with $403,208,350.49 for the same month a year ago, a decrease of $36,241,887 and $356,378,409 for August. Clearings for the first nine months ;am&%nggzt!% ;s‘,m,us.m, as against 922,592, flor the corre: period of '1929. s Debits to individual accounts for the four weeks ended September 24 totaled $361430,155, as compared with $388,- 433,942 for the si period of last year. REPORT OF THE CONDITION MCLACHLEN B, CORPORATION Of Washington, in the Distiet of Columbis. 3ty5he close of business on September, 24, 1,259,343 48 1,000.00 360,590.33 ed . 2 §77.316.95: nd Axtures, C 187.003.13 bt PR k] fis 8] -$2,584,704.65 $150.000. 150, E 52,310, 21,11.02 ate ' owned banking house....... nd due from banks cks and other 2 inciuding cer- ashiers’ checks 22. Deman 23] Time deposits Total . . Digtrict of Columi JOHN A. MASSIE, cashier of the above- i nk. do solemnly swear that the enient is true to the best of belief. HN A. MASSIE. Cashier. to before me this A 1930, EVELYN E. MCINTYRE, Correct—Attest: Hoe - LANIER P. McLACHLEN, F R, HORNER, EDWINH. ET: GEORGE MILLER, Charter No_ 3625 Reserv REFORT _OF CONI OF THE OLUMBIA NATIONAL BANK BA ington in the District of Columbia. close of business on September 34, 930,786.90 586,399.00 226,774.99 Bai : gash and d . Outside check: cash items ... dei 12,800.00 .95,682,327.69 LIABILITIES, Cepital stock paid in. . Sur) SR oo e, 22. Demand _deposits 23, Time deposits Total ... ;o 08821 69 City of Washingfon. District of Columbla, & I, ROBERT H. LACEY, cashier of the above-named bank, do solemnly swear that e above statement 1s true to the hest of wiedge_ an: e my Knowledss, SRERT 1. LACEY, Cashier worn 10 before me this ) Notary Publie. James A. Messer, H. Milans, L l“l1| T 8. Pratt, Ir. Frank J. Stryke onnn awgl:"fl. reetors. Year Loans On Improved - Real Estate N Nearby Montgomery County and the District of Columbia e Lowest Interest Rates BOSSEEPHE| P