Evening Star Newspaper, October 14, 1930, Page 15

¥ GURB ISSUES SHOW || NEw YORK CURB MARKET IRREGULAR TREND to Rally When Heavy Selling Subsides. BY JOHN A, CRONE. Special Dispatch to The Star. | NEW YORK, October 14.—After opening actively and weak today as & result of the week end accumulation of selling orders the curb market slowed and steadied as trading progressed. Absence of large or bunched sales, however, did not bring about more than sporadic rallies or a semblance of stabil- l‘;‘;‘me Bond & Share, after open- a deal of 10,800 shares at 547, off 1%, lost nearly as much as its initial decline before snapping up to 55% shortly after midday. Cities Service opened on a transaction of 8,700 shares at 24, off %, and got down below the 24 mark, only to recover shortly after the noon hour, Oll securities had to contend with trade news ‘as well as general market developments. Some Mid-West refin- eries cut crude prices as California re- ported an increased output and pipe lines reported smaller deliveries in Sep- tember than in August. Humble Oll & Refining, Imperial Oil of Canada, which also a Standard Oil of New Jersey subsidiary, and some other marketing, refining and producing companies broke to new lows for the year on fractional declines. Indiana Pipe Line was the first of that group to record a new low level. Selling of motor shares in the fore- noon was not nearly so brisk as in recent sessions, which may have been due to the fact that the industry, from preliminary reports, shows September sales at approximately the same level as those of August. Paramount Cab eased following earning report, which showed & net loss of $280,912 the year ended September 30, a net profit of $1,115,981 in the shares. Total capital and surplus of $12,053,699 showed a cut of $327477 for the three months. HAILE ENDS LONG CAREER AS RAILROAD EXECUTIVE Oct 2 ibus’ Haile as 4 url-'gnnns- A lines was recently announce and cial circles. ~Mr. of age, will the road. maintains a.handsome f s 2333333388212 22828288 £ ESS FESERIE R 2822281 z 200 RE> =5 = e F F W e & 23333333802 3IR228:! 828228228282 83338832 8RR IR! SRR NS W 2 ) 990000 ARemea; S H p23i 2838288282 CEEEe 0% WSS NN 3558 2ER22% %% omc LEEED B BRORPR T £t £ 2222RSI5IRBIVRAN. & 533888520 a22555E Selaed 2258532553822 3558S: FAIISS 22585303 s ey 2EEK s e IR CARRD-ARU o, O 15t Ll IR, YRR ST SR 222 = gref - =538235855 8538 useys! PECTEER gss; 222 993 0 TR A5 EEFSO & &5 Ba B 32882832338 8233223223328% 22858 P .............. 3 2 3 2, e el | 28535 EEPSS TSR SEN a32e88535e 282 2005 .g P oery 3238228333 Et G 8332323 ' 238! tJ pd 3o Rean 20! a® j:: wBuanue-S3 wuumsans! i L b b ) Wi-When issued. & vecent month nearly $2,400,000 lectrical In worth of equipment was sent Note—All exceptin, INANCIAL.. stocks are g those sold in one designated by the ’ THE EVENING STAR, WASHINGTON, D. C, TUESDAY, OCTOBER 14, 1930. hundred-share lots letter s (80s) (250s) which shows those stocks to be sold in odd lots only. ~Prev. 1930.~ w. Market Displays Tendency "3 33% 115% 111 9% Stock and Dividend Rate. 5 Alnsworth Mfg $2% . 3 7 177 Allegheny Gas. . Allled Mills (60¢). ... 1 Allison Drug St (B). Aluminum Co of Am, 111% 105% Alu Co of Am pf (6 19 TH 30% 15% 44% 85 183% 55% 26% 10% 41 3% 5% 9% 9% 2% 90 6% 42% 39% 27% 1% 8% 136% 16 13 5% 108% 12% 17 2 20% 92 ) L% 3% 39% 12% 1 98% 109% 39% 37 78% 107 2% 98 9% b4 68Y 9 22% 115% 106 3814 12% 234 34% 4% 54 14 215 Amer Austin Car. . 30 Am Capital pf (3)... 60 Am CigarCo........ 8% .Am C P&L B (10%).. 15% Am Com P A (b10%) 33% Am Com P B (10%).. 10 Am Cyanamid (B).. 23 Am Dept Stores..... 914 Am Equities. . 22% Am For Pow (war).. 9 AmGas& El (1), 5% Am Invest Inc (B).. 7 50 Am Laund Mach (4).100s 8 49% Am Lt & Trac (2%). 1% Am Maricabo... 16 Am Mathis (B) w.l. 7% Am Natural Gas. 14% Am Superpow (1). 94% Am Superpwr 1st(6) 87% Am Superp pf (6)... 8 Am Transfor (1.40). 5 AmU&G B vtc 40c.. 6 Anchor PF (b10%).. 15% Anglo Chil Nitr: 6 Appalachian G: 7% Arkansas Nat Gaf 7% Ark Nat Gas (A) 5 Art Metal Works (1) 4% Asso Elec Ind (30¢). 22 Asso Gas & Elec. 21% Asso G&E A (at2. 90 Asso G & El cufs ( % Atlantic Fr & Sug. 5% Atlas Util COrp... ... 2% Atlas Utilities war. . 1% Auto Mus Inst (A).. 3 Auto Voting Mach... 24% Aviation Cor of A T% Aviation Securit! 214 Bahia Corp..... 13% Bliss (E W) Co (1) 3% Blue Ridge Cp (40c). 33% Blue Ridge cv pf a3.. 63 Bohack HC (234) 175 Bos & Albany 8% 21% Brazil Tr & Lt (h2).. 24% Buff N&EP pf (1.60).. 7 BurcolIne....... 37 Burco Inc cv pf (3) 2% Burma Corp (t31c) 2% Bwana M Kubwa 1% Cable Radio T vte. 2% Canada Marconi. % Carib Syndicat 48 Celanese 1st pf (7%) 3 Cent Atlantic States. 19 Cent PubSvc AaL7b Cen St El cv pf n(a) 4% Centrifug Pipe (60¢) 93 Chain Stores Stock. . 15% Chat Ph Al nv (50c). 221 Cities Serv (g30c). 88 Citles Serv pf (6) % Cit Sv pt B (60c) 48% Cley El [llum (1.60). % Colombia Syndicate. 8% Com Wat 8v (b6%) 11 Consol Afrcraft % Consol Auto Merch, 2 Consol Copper. 90% Cons Gas Balt (. 10 Consol Laundries(1) 5% Consol Retail Stores. 3 Cons Royal Oll (50¢c) 101% Cont G & E pr pf (7). 4 Copeland PrincA... 4% Cord Corp. .. . 18 Corp SecCh (b6%).. 6% Corroon & Reynolds.. 60 Cor& ReypfA (6).. 4% Creole Petroleum. .. % Cresson Consol (4c). 9% Crocker Wheeler.... 81% Cross & Black (3%) 8% Cr Cork Int A (1) 16 Cuneo Press (2%)... % Curtiss Wright war. % Cusi Mex Mining.... 6% Darby Petrolmn (1), 2% Dayton Air & Eng. .. 53% ‘Deere & Co (m1.20).. 2% De Forest Radlo.... 4% Derby Oil Refining. . 2% Detroit Alycraft..... 14 Diamond Match new. 24% Dia Match cu ptf (n).. 12% Douglas Air (75¢)... 55 Dow Chemieal (2). .. 37 Driver Harris new. . 2 Dublilier Cond & Rad 139 1% Durant Motors. 2 Duval Tex Sul wi 23 EastC&F Asso. 18% East St Pow B (1). 4 EastUtil Inv (A).... 5% Eisler Electric Corp. 53% Kl Bond & Sh (b6)... 91% El Bond & Shcu pf 5. 103% El Bond & Sh pf (6). 16% Elec Pow Asso (1).,. 15% Elec Pow Asso A (1) 27 El Pow & Lt op war., 99% EIP&L2dptA (7)., 12 Elec Sharehold (21). 86% Emp G&F cupf (7).. 3% Empire Steel Corp. ., 22% Employ Reins (13%). 1 Engineers Gold...... 9% Europ E Ltd A (60c). 1% Evans Wallow Lead. % Fabrics Finishing. .. % Fageol Motor, . 89% Fajardo Sugar. 4% Fedemal Baking Shop 11 Fiatrots (1.25)..... 95 Firemen's F'd In (5).. 100 Florida P&L pf (7)., 18% Ford Mot Can A t1% 6% Ford Mot France 28¢ 10% Ford Mot Ltd 37%c. 5% Foremest D P pf 1.60 2% Foundation For Sns., 2% Fox Theater Cl (A).. 8% General Aviation 2 General Baking. . 27 Gen Baking pf (3)... 9% Gen E Ltd ret (50c) . 16! Gen Empire Cor (1). 60 27 Gen Firepr (12%)... 2 Gen Laundry Mach. . 20 Gen W W&EE A (2)... 981 Georgia Pow pt (6) .. 38 Gilbert (ACpf (3%). 75 Glen Alden Coal (8). 9 Globe Underwriters.. % Gold Coin (new). % Golden Center. 9% Goldman Sach T C % Goldfield Consol. 27 Graymur Corp. 180 GrA&PTn-v(5). 115% Gr A& P T pt (1) 7% Groc Strs Prod v.t.c.. 21 Guard Fire Asso (2). 90 Gulf Oll of Fa (1%). 2% Hand Page pf t15c.. 1 Hartman Tobacco... 14 Hazeltine Corp (2).. 24% Hires (CE) (A) (2).. 5 Hollinger Gold (60c) 99% Horn & Hard pf (7). 11% Houston Ol of Tex.. 514 Hudson Bay M & 8. 74% Humble Of} (2).. 26% Hydro Elec Sec (2).., 2% Hygrade Food Prod. 16% Imp O1l of Can (50¢c) 30 1Ind Pipe Linen (3).. 24% Ind Ter {1lu Of (A). 10 ind Fin ctfs (b10%). 43% Insull Ut (1b10% %) 54 (nsCoN Am (13)... 7% Insurance Sec (1.40) % Intercontinent Petn 14 int Petroleum (1)... 25% Internat Super (£1). 34% Int Utilities A (3%). 6% Internat Utll ¢B) 5% Interstate Equities 33% Interst Ea cv pf (3). 5 Interst Hose Mills. . 9% Irving Atr Chute (1) 4% [talian Superp (A).. 1% ftalian Superp war.. % Kolster-Br (Am Sh). 35% Lackawanna Se¢ (4). Lefcourt Real t1 30 LehC& Nn (14 1 Leonard O1). 11% Libby McNeil & 17% Lily Tullp Cup (1%) . Gen G&E cv pt B (6) 250; - PPN 1 Bulnra » EROTRUL_JOTIEPRN. JeUe ® PT Y =119 P Duke Power (J15)...450s " » - S 3 T UM RB O mORE AL ~ANNANE N 3=t 198 4 o [ST-1-T9- STPITOTSIN o Bales— ‘Add 00. Open. High. Low, Close. TS 12 Alabama Pow pf (6).400s 114% 5 12 114% 34 % 114% 3% Direct to The Stock and Dividend Rate. Lion Oil Ref (2) Loew's Inc deb rts. Loew's Inc war) Lone Star Gasn (1) Louisiana Lan & Ex. 3 MacMarr Stores (1), 4 Mangel St pf (63%).. 508 Marconi I Mar (3%¢). 1 % Mass Util Asso. Mavis Bottling. . Mead Johnson (t4%) 2 . 4 .« 19 Met & Min Inc (1.20) Mid St Pet vtc A.... Mid West Ut (b8%). Miller & Sons (2).... Mining Corp of Can.. Mo Kan P L (b10%). 4 Mo Kan P L vtc..... Moh H P 1st pf (7).. 2bs Moh HP 2d pf (T)... Montecatini deb rts. . Mount Prod (1.60)... 7 Mount St Pow pf (7). 10s Nat American Co.... Nat Aviation. .. Nat Fam Stb2% % Nat Fuel Gas (1). Nat Investors. Nat Screen Sv (2)... Natl S T Sec A f50¢.. 4 NatSugarNJ (2)... t Union Radio hi Corp (1.30).... New Brad Ol (50¢).. 3% 21% 24% 1) 10 6 Y 10872104 110 102 2% 12% 7 Newport Co (2)..... N Y Merchandise (1) N Y Pet Royalty. Niag-Hud Pow B w. . Niagara Sh, Md(40c) 4 Niles-Bem-Pnd 12%. % Noranda Mines (2).. 50 Nor Europ Of] Corp.. North Wevpf(3)... 2 Nor Ind Pwr Svc(6).110s NorStPow A (3).... 8 Nor St Pow pf (7)... 50s N W Enginee; Novadel Age: Ohio Copper 5 Ohio Ofl n cu pf(8). 1 Ohio Pub 8v pf A (7) 80s Outboard Mot (A)... Outboard Mot (B)... Pac GAE 1st pf (13%) Pac Pub Sv (130)... Pac Western Ofl 4 Pandem Ofl.... « Pantepec Ol Paramount Ci 3 Parke Davis (11.65) Pennroad Cp (20, Penn Wat & Pow ( Peop L & P A a2.40.. Perfect Stove (4% ). 4 Phillp Morris Inc. ... Pie Bak of Am A (2) Pitney B P n (20c) Pitts & L E (110). Plymouth Ol (2). Poudrill&Alex t4% .. Pow Corp Can (1)... Pratt & Lamb (15)... 1 Prince & Whit (25¢). 138 Prince & Whit pf (3) 38 Prudence Co pf (7).. 258 2 3 BARNWHARBN B8 25 N DN - Public Util Hold war 15 Pub Utll Hold x.w... R R 8h Corp (25¢) Reeves (Dan'l) (1 Reiter-Foster. Relfance Int (A Reliance Manag. Reybarn Co. Reynolds Invs Rich Oil Cal pt % Rock Lt & P (90c) Rossia Int Corp. Royalty Cp pf(1.20 Safeway Sors war 2d 4 St Anthony Gold. . St Regis Paper (1) Salt Creek Prod (2| .Saxet Co. Schletter. Schulte Un 5c-31 % Seaboard Util (50¢ 25% ‘Sec Corp Gen (40¢). % Seg Lock & H (50c).. lected Industries. ; Sel Ind all ctfs(434). Select Ind pr (5%) er 8 Solar Refining. South Am Air Line; Sou Penn Oil (12%).. SoCalEdpfC (1%). 3 SouthldRoyalty (60e) 17 8 W Gas Utilitie 5 A S Spleg M St pf (6%).. 268 Standard Motors.... 3 Stand O1] Ind (23).. 139 Stand OIl Ky, (11.80) 26 Stand Oil, Neb(13%) 1 Stand Ol Ohlo (2%4). 50s Stand O Ohio pf (7). 300s Stand Oil of Ohio(5). Stand Pow & Lt (2).. Starrett Corp....... Starrett Corp pf (3). Stein (A) & Co (1.60) Stutz Motor Car. Sun Inv........ Sunray Oi (40¢c) Swift & Conew (2 Swift Intl (13%) Swiss-Am El pf (6).. % Syracuse Wash Ma B Tampa Electrie (32). Technicolor Inc..... Teck Hughes (60c).. Texon Oil&Land(t4) Thatcher Sec Corp. .. Timken Det A pf (7). 90; «Tish Realty & Con. .. Tobacco Pr Exports.. BrepnSonmnnemse % Tri-Cont Corp (war) Tubize Chatel (B)... Ungerletder F Corp. . 4 Un N G of Can 11.60 ©n Ofl Asso (32) Union Tobaceo Utd Chem pf (3) Utd Corp (war). Utd Dry Docks Utd EI 8v pr war. ... Utd Found b2-35 sh.. Utd Gas Co (new)... Utd Gas (war) . % Utd Gaspf (T)...... .Utd Lt & Pow A (1) Utd Lt & Pow B (1 Utd Lt & Pow pf (6). Utd Milk Prod pf. U'S Dafry (A) (5). U S Dalry (B)...,.., % U S Elec Pow ww... BB AND ANCA DS AN Utility & Ind. . AUtil & Ind pf (17%), Utllity Equitles. Vacuum Of1 (4). Venezuela Petrol Vie Finan Cor (4 Walgreen Co......., Walgreen Co (war).. Walker (H) (1). Walker Min (7%e) Wayne Pump. .. West Alr Exp (60c).. Williams R C (1.40 Wil-Low Cafeteria Wil Low Cafe pf(4 Wilson Jones (3).... Dividend nt. s @ividena. 1Partly extra $Plus 4% In stock. b ERAENEY Received by Private Wire Star Office NEW GERMAN LOA WINSFAVORINU.S. % Oversubscription of Treasury Bills Predicted—Issue May Run Two Years. BY JOHN F. SINCLAIR. Special Dispatch to The Star. NEW YORK, October 14.—An' im- pressive list of banking houses in the % | United States, Canada, Sweden, Hol- . |or British land and Germany, headed by Lee, Higginson & Co. of New York, have made arrangements to loan Germany $125,000,000 for two years. No French ers are among the un- derwriters. The proceeds of this loan will be used to cover, partially, the deficit in the German budget, which is expected to 1 at least twice the amount of the loan by March 1, the close of the fiscal year. The loan will take the form of six- month German treasury bills, which will be purchased at a discount by the ers, with the option of renewing three times. The issue thus becomes a two-year loan. Oversubscription Seen. Leading barnkers in New York, Chi- cago, Buffalo, Boston, San Francisco, Cleveland and 8t. Louis are among the underwriters in the United States. The issue probably will be oversub- scribed in spite of the fact that the German government 5! per cent bonds of 1965 (the Young plan bonds) ?:ve in fluedl.l.st":eek sold "olflowfln.: , compared with 90, e price last June. b It is expected that this new issue will be taken largely by banks which r portfolios, the theory apparen being that’the 60,000,000 German peo-~ ple are a good credit and will eventu- l‘lill{‘vlork out all of their financial diffi- cultdes, Betier Auto Figures. The automobile figures for the first %%ht mulp'lrfim .hg'ihl: total of 2,!80}'.‘ cars uce ar, 85 agains 4,445,000 last year. 4 t the sales tell a much better story! This year, for the first eight & | months, 2,950,000 cars were disposed of 1, | by the car manufacturers, as 4,240,000 last year. Thus the manufac- turers sold during this period 114,000 | 5 more_ cars than they produced, as againbt last year, when they sold 250,~ 000 cars less than they produced. This does not show up badly at all 4 |for the present condition of the in- | which, in 1907, was merged with the dustry; and while the upturn has not come, the different manufacturing units are getting their houses in order, pre- paring for some good times ahead. Growth of Utilities. Samuel Insull's statement that his companies will spend more than $200,~ 000,000 in 1930 and the same amount for next year shows the enormous ex- tent to which the public utilities under his direction have grown. ; Samuel Insull, 71, born in London, England, began his amazing career in the public utility field first by getting interested in electricity in 1881 as pri- vate secretary to Thomas A. Edison. It was while he represented Mr. Edi- son in the organization and mm&e- ment of the Electric Tube Co., the Electric Machine Works, the Edison Lamp Co. that Mr. Insull began to see the vast possibilities in the public utility field. He resigned the vice presidency of the General Electric Co. in 1892 to become president of the Chicago Edison Co., Commonwealth Edison Co. In recent 8% | years Mr. Insull has been the outstand- ing figure in public utilities in the Mid- dle West. Now when other industries are cur- talling, Mr. l};‘l!kull lnfilol;n:l:kthlt hg companies w! eep all of operat ing employes who attend to their busi- ness, and will spend for construction betterments 30 per cent more this year than in 1929 and as much again in 1931, “While we will try to kdeiesp l}l‘gf o le employed, the disposition 1) mil whll:. might be ¢ .iled the frills of the business and sce that we get a full day’s work for a full day's pay is inevitable,” says Mr. Insull. Reparations Payments. Dr. Hialmar Schacht’s statement be- fore the New York Bond Club that the time has come for reconsidering Ger- many's reparation payments has re- 7% | ceived very little attention from the al- » Pay t dividend. g ietE Il E:gperiefice d Advertisers Prefer TI;'e Star lied governments or from the American Even the German press has been dis- to let the matter ride upon the theory that the next step in the re- vision should come from the allies, who | are now suffering as great business de- pression as Germany. But the reparation question is not yet settled. G ,000,000 unem- ployed and Britain's 2,161,000 unem- ployed, the highest since 1921, show that the overloaded debt condition of Europe is holding back business re- covery. German financlers think the world willl be forced to recognize this before many more months pass. Government Expenses. The National Assoclation of Manu- facturers has taken a crack at the i creasing costs of Government activities in the United States. The association points eout that in the last 15 years Government expenses have risen from about one-fifteenth to about one-sev- enth of the total national income, with no halt in the growing expenses in | sight. Government expenses are not all bad. They can be made ':ll:ry u;ron:gcl: to the people, who pay the es. use of inefficiency and lack of vision, they | often’ become merely an added burden’ to_the tax-paying citizen. ‘This coming yvear the Rdenlwcg:. ernment probably will be f¢ d P % OFFICE FOR RENT In Wall Street of Wash. Large, light, 4-window of- fice in law firm’ .privilege of use of wai room. Stenographer wi swer your phone. STENOGRAPHIC SERVICE IF DESIRED Ideal for C. P. A, realtor or lawyer. Reasonable rent. Apply Suite 303 907 15th St. N.W. "UPTO $300-% On Our Liberal o 20-Monthly-Repayment Plan No Endorsers Required A Strictly nified and Confidential Service Maryland Personal Bankers A g o e R Under Supervision State Banking Dept. | December, new income sources to meet current ax“ptus. r':' b:nmm lge optimis- enough jeve that income will take care of all of na- tional expenditures. 2 Since 1921 the United States has re- duced its national debt from $26,000,- 000,000 to $16,000,000,000, out from $500,000,000 to $750,000,000 a year for that . Many wise financial men thin e Government would help business materially if this practice was suspended for one rau thus enabling the Government to live within its pres- ent income and doing away with the necessity of seeking new sources of revenue. (Copyright, 1930, by the North American Newspaper Alliance.) 52 CHAIN STORES LIFT 1930 SALES First Nine Months Reveal 1.65 Per Cent Increase Over Same Period Last Year. Special Dispatch to The Star. NEW YORK, October 14.—Merrill, Lynch & Co. have received statements of 52 chain store companies reporting their results for the first nine months of 1930, showing aggregate sales of $2,904,181,652, ‘against $2,856,902,559, an increase of 1.65 per cent. egate sales of these companies for the month of September totaled $310,535,660, as compared with $324,- 017,661 for Septmber, 1929, a decrease of 4.16 per cent., Among the companies which showed increases in September, 1930, over the results of Sej ber, 1929, were: Great Atlantic & Pacific Tea Co., F. W. Woolworth Co. First Natfonal Stores, Inc., S. H. Kress & o., W. T. Grant Co., W: n Co,, J. J, Newberry Co, F. & W. Grand-Silver Stores, Inc., Schulte-United 5-Cent to $1 Stores, Inc, Melville Shoe Corporation, McLel- lan Stores Co., Lerner Stores Corpora- ant, Inc, G. C. Mu . aD Peoples Drug Stores, Tna® BOND YIELDS GIVEN MORE CONSIDERATION Special Dispatch to The Star, CHICAGO, October 14.—It is in. times like the present that careful investors make the greatest financial progress, it is asserted b{ the Investment Research Committee of the Financial Advertisers’ tion in a resume of conditions in the bond market at the present time. the situation the state- ment says: “In bonds, the investors can now buy more income for less money and enjoy zl;;‘hi‘h:; d"l"b. &( mof:r:;t !ur‘yeln to 3 n orgot! that bonds {a] " may later value. in urchased ltucurra:a: prices appreciation market It is a time for confident action g advantage of t_invest- fiens opportunities In the bond mar- In the discussion, it is pointed out that commodity prices. have now reached a lower level than at any time since 1916, resulting in an enhanced purchasing power of a dollar, which adds to the unusual advantage of fixed income-bearing securities, modity prices are on the income ‘is power. W?en v:b%m. decline bond ‘worth more in purchasing GRAIN MARKET CHICAGO, October = 14 (Special) — The wheat market was sharply lower today under general liquidation and stop loss selling caused by the weak- ness in Liverpool and reported good rains over Australia and the itine. Febons s s e Ayt ‘was December opened, 75% to 76Y,; o e O % Ya: March, » 82 to 81%; May, new, 5. Mflt‘r the first half hour, %' March, 80; May, 82%; iy it mostly 8horts covered for profits. December opened, 77 to 76%; December new, 'l'l:p March, old, 77%2; May, old, 82 to 81.. After the first half hour, l’)'slc;mbfl'. old, 77%; new, ; March, 78%; May, 813%. i * Oats were lower with other grains. December_opened 36 to 353; Decem- ber, new, 35% to 35%; March, old, 38% to 38%; March, new, 37%. first balf hour, December, 36 to 35%: December new, 35% to 35%; March, old, 38Y; to 38%; March, new, 37%. Provisions were lower with grains. NEW YORK COTTON NEW YORK, October 14 (Special).— With opening drops of 7 to 12 points, cotton g\l‘}cu today reflected bearish anticipations . of the government con- sumption report, which will be an- nounced Wednesday morning. Near months were most active, with few trade buyers in the market for con- l"g:nkl i Octob prices were: er, new, 10.20, off 13; December, old, 1045, ot 10; December, new, 10.40, off 12; Jan- uary, new, 10.53, off 10; March, 10.72, off 11; May, 1092, off 9, and July, 1111, off 7. to wheat. Selling bulls, ored FINANCIAL PRICE CUTTING HELD BLOW AT RETAILERS Drug Firm Official Declares for Fair Value and Profit Policy. American retailers are seriously im- peding their own progress by ruthless and indisoriminate price-cutting, Wil- liam H. Gesell told officers of the Na- retall drug a fair-value, fair-profit policy on the part of retalers in general. “Price-cutting is underm| very structure .of the retail b ‘This matter of selling some goods at cut prices only to make up for the losses thus entailed by adding an unfair mark-up to other goods is - positively unsound in every way. This practice is widespread - today and must be wiped out. The consumer must be educated: to the fact that he benefits most by pay- ing a fair price on all goods rather than by getting a relatively few items cheaply and paying for it on other purchases.” A.T. & T. BUSINESS VOLUME FAVORABLE President Gifford Reports Gain in Activity for Each Month of Year 1930, By the Assoclated Press. NEW YORK, October 14.—The Amer- ican Telephone & Telegraph Co. today reported for the September quarter net earnings of $41,728,949, equal to $2.55 Sutstanding. ‘T the-precediny usmar oul k e qu the company reported net of $41,231,992, equal to $2.77 a share on 14,987,506 shares, and for the third quarter last year the net was $40,868,268, or $3.10 a share on 13,184,120 average shares, Net for the nine months ended Sep- tember 30 was $123,400,796, equal to $8.13 a share, compared Wwith $120,970,- 306, or $9.2¢ a share in the correspond- ing period of 1929, Walter S. Gifford, president, said that the present volume of business of the Bell system is favorable, when com- pared with the level of general indus- S aoh oAt of the yu has sho “Each month of year wn an increase in business dotie over the same month last year,” he added. “For nine months this the increase was 3 per cent over same nine months last year. After three months, during which the telephones disconnected ex- ceeded those connected, there has been a net gain in September. The net gains }'%o'fifim'- es for the nine months was PUBLIC HAS REVERSED, IS OPINION OF STOCKS Special Dispatch to The Star. NEW YORK, October abrupt general attitude taken a X that now prevailing wmfl“ swci‘.u. In 1929 the public was "equi in income pects of appreciation in the next two years. Its old measure of values has ¢ new measure adopted the one direction as if the other. BN SEASONAL TRADE. GAINS REPORTED IN CANADA Special Dispatch to The o » MONTRE. October 14.—“A mod- crate scasonnl improvement i Cana- dian business is now under way,” ac- cording to General Manager S. H. Loga: of the Canadian Bank of Commerce in the. bank’s monthly letter of Canadian business conditions, “It is not, how- ever, gel in ha found it Decessary to curtail operations even further than during the Summer, In areas where adverse in- fluences have continued to be felt the improvement has been correspondingly less than elsewhere; for example, the demand is below the average over the greater part of the prairie provinces and fi lumbennkdm.rlcu. while it is above the average in most metal-mining regions.” fair | seedless, 1.50; damsons, A—15 Butter—One-pound _prints, 44a45; (tub, 43ad4. Eggs—Hennery, 38a40; ' current re- ceipts, 28. Poultry, alive—Turkeys, young, 35a36; old, 28a30; Spring chickens, large, 37a 24a25; Leghorn fowls, 15a16; roosters, ‘14a18; ducks, 15; Keats, large 50a60; small, 25a30. Dressed—Turkeys, young, 38a40; old, 33a35; Spring chick- ;::: miaus: im'cd(iun;. Il:'”: small, a8 26a27; al'nhmx medium and smail, 3 119‘:% 24a26; ducks, 23a25; roosters, Live stock—Calves, 12; lambs, 8, Fruits—Cantaloupes, 1.25a1.50; hon;x; 3 melons, 1. dews, 1.5022.00; Persian 2.00; oratiges, 8.00a10.00; lemons, 4.50a 5.00; peaches, 2.25a2.50; les, nearby, per. bushel, 5041,50; box stock, 2.366 50; Seckels, 1.50a2.00; Con- cords, 50a55: Tokays, 1.75; a1.75; damson, 1.50a1.75; , bushel baskets, 1.75a2.25; figs, Norfolk, Va., stock, per quart box, 20; quinces, New York, bushel baskets, 2.00. Vegetabl les—Potatoes, 150-pound sacks, sweet potatoes, K beans, 1.75a 2.00; lima beans, 2.25a2.50; cucumbers, bushel baskets, 2.50a2.75; carrots, rr 100 bunches, 2.00a4.00; beets, gr 00 bunhches, 2.00a4.00; squash, 2.50; pie squash, 75; caulifiower, 1.75a2.00; mush- rooms, 75a1.25; inips, 1.50; turny) 1.50; broccol, &?o.::m?' POULTRY GRADE NAMES REVISION IS ANNOUNCED nam grade es are U, S. special, U. S. prime, U. 8. choice and 8. . U. 8. corres f U. S. common. The new will become effective October 16. Saul Building 925 15th St. N.W. Several desirable rooms at very reasonable rents. Inspec- tion invited. B. F.-SAUL Co. Nat. 2100 925 15th St. N.W. ill Building " 17th & 1 Streets sules SVRTARE ot oo fea sonable rentals. Moore & Hill, Inc. 730 17¢h St. N.W. PRGN v g First Deed of Trust 6% Interest Reasonable Commission and Hes to T vobcsons JAMES F. SHEA [ The Montgomery County Bldg. & Loan Ass’n, Inc. 6972 Wis. Ave. Bethesda, Md. We Desire to Purchase and Solicit Offerings of $1,500,000 SURETY GUARANTEED MORTGAGE BONDS originally underwritten by us, of the following companies: NATIONAL UNION MORTGAGE CO. CAROLINA MORTGAGE €O. CITIZENS MORTGAGE & BOND CO, FLORIDA FIRST MORTGAGE CORP. = FRANKLIN BOND & MORTGAGE CO. PROVIDENT MORTGAGE CO. SECURITY MORTGAGE CO. SOUTHERN SECURITIES CORP. UNION MORTGAGE CO. We will pay 93%% 1o 100 and interest, acearding to Mackubin, Goodrich & maturity and coupon rate ESTABLISHED 1899 BANKERS Members New York and-Balpi-+7e Stock Exchanges Associate Member Ne» ork Curb Exchange 1508 H STREET WASHINGTON, D. (-3 BALTIMORE, MD,