Evening Star Newspaper, October 18, 1930, Page 13

FINANCIAL NEWLOW RECORDS ARE MADE ON CURB| Heavy Selling Hits All Groups as Values Dwindle Rapidly. BY JOHN A. CRONE. Bpecial Dispatch to The Star. NEW YORK, October 18.—Scores of stocks ‘on_the Curb Exchange | broke to new low levels for the year or | longer in today’s session, which was marked by a steady slipping away of values as offerings increased. The opening sale of Electric Bond & Bhare, 12,000 shares at 51%, registered & new 1930 low, which was fractionally lowered later. American Superpower, American Gas & Electric, Standard Power & Light, Gulf Oil of Pennsyl- vania, Aluminum Co. of America, New Jersey Zinc and Newmont Mining like- ‘wise broke to new 'ow marks, indicating the diversity of todey's selling. Big blocks of stock marked the first few minutes of trading. Many of these Emn trades represented bunched les. Besides the 12,000-share block of Electric Bond & Share, large deals in- cluded: Four thousand shares of Amer- fcan Superpower at 143, 5,100 shares of Cities Service at 231¢ and 4,600 :‘hl.ru“ of Standard Oil of Kentucky Radio Communication shares were + much more active than usual. Canadian Marconi broke to a new low level, Mar- coni International Marine softened. Radio manufacturing securities lagged. New Jersey Zinc and Newmont Min- N quickly moved into new low ter- ritory, Noranda Mines, however, rose a small fraction following Winnipeg dispatches quoting N. A. Timmins to the effect that directors were not con- sidering either a dividend reduction or omission and that such actions were not likely as long as copper remained around the 10 cents a pound level. ! Prince & Whitely preferred, which had a sinking spell when there was some intimation Friday that the trading corporation might encounter losses as a result of the failure of its brokerage house sponsors, was slightly firmer to- day. The State attorney general'’s office within a day or two will publish the exact financial condition of Prince & Whitely trading as of October 8, or the day before the brokerage failure. The same source of information indicates that the financial condition of the trading corporation appears to be good. BONDS ON. THE CURB MARKE' Sez 335 seganzestey FESEE TEEE SERE#E F L SngzessoarsiSegnsansens B e S N 535 (S - 2358355 '1' mgs§nste! B3 w>>5; P R LT R SRR P T e T R Searessistsgsan: i34 S358s2sa5izmss o B S S wiow ¥ +f S EEZme t3 ._ 23235 0032 10013 1 i 109 1 o »r2 008 yFu:n 5 ol H i RS >*ayn”2faY, T [ Ga? Bu>S Ezed 2. Ri% 973, 871 100 IM i 13 ' 01 10013 Ml 021, 10204 1021 | :fi' Dfi'n 102 102 1ohs 100 101 91 1032 103 1031 4 841l 4 m Wes Tex Ut 58 A '5T 9594 Witeon &t 3 £ 36:80% PORFIGN BONDS. n, 3 ni Lt & Ry Union Gulf 85 ‘50 %v 8 2834 1010 B 1012 TT—Nih werra) Rt warrants. R o lsewed, S When m“ny chchm ried by J. & W. 8o « NEW YORK CURB MARKE’ Stock and Dividend Rate. Loew's Inc war). Lone Star Gasn (1). Long Isld Lt (55¢).. Louisiana Lan & Ex. Note—AIl stocks are sold in one exce whi .hnwn n:ouklw.:h m.:. o - tock ane .— m:;' l:!"‘r“ Dividend Rate. 24 814 Aero Underwriters.. % 165% AfMiliated Prod 1.60.. 9% 2 Alr Investors vte. .. 1824 92 AlaGrSou (1), 104% 1004 Alabama Pwr pf u). 9% 3 Allegheny G: 1% % Allison Drug St (A). 356 1601 Aluminum Coof Am. 111% 105% Alu Coof Am pf 99n 97 Alum Ltd cum pf 6). 7% 2% Amer AustinCar ... 17 Am Capital A(t1%). 5 AmCapital (B) ... 30 Am Capital pf (3)... 8% AmC P&L B (10%). 1514 Am Com P A (b10%) 33% Am Com P B 110%). 10 Am Cyanamid (B).. 914 Am Equities. . 22% Am For Pow (war).. 93 AmGas&El (31)... 5% Am Invest Inc (B).. 49% Am Lt & Trac (2%). 1% Am Maricabo....... 7% Am Natural Gas 14% Am Superpower. 94% Am Superpwr.1st(6)’ 87% Am Superp pf (6)... 5 AmU&G B vtc 40c, 6 Anchor PF (b10%). 15% Anglo Chil Nitrate 6 Appalachlan Gas. 5 Arcturus Rad Tu & Ariz Globe Coppe 74 Arkansas Nat Ga 74 Ark Nat Gas (A) 5 ArtMetal Works.... 1 Asso Dyeing & Ptg. . 4% Asso Elec Ind (30c). Asso Gas & Elec. 2114 Asso GRE A (at2.40) 891 Asso G & El ctfs (8). 1% Asso Rayon... 38% Asso Rayon pf (6) % Atlantic Fr & Sug. 5% Atlas Utll Corp. 2% Atlas Utilities war.. 24% Aviation Cor of Am.. 36 Axton-F Tob A 3.20. 514 Bellanca Afrcraft... 13% Bliss (E W) Co (1).. 37 Blue Ridge Cp (40c). 324 Blue Ridge cv pfa3. 3% Bourjols Inc. 20 Brazil Tr&Lt(hE%). 31% Bulovacypf (3%).. 2% Burma Corp (t31¢).. 2% Canada Marcon! 1 1 15 1 2 258 19 Cent Pub Svc Aal.76 12 Cent St El (k40c). ... 915 4% Centrifug Plpe (60c) 25 15% Chat Ph Al nv (50c). 184% 120% Cheesbor Mfg (t15%) 44% 22% Citles Serv (£30c)... 88 Clties Serv pf (6). 82 CitSvpfBB (6)..... 48 Clev El Illum (1.60). 1% Clev Tractor (1.60).. 2% Colon Ol 5% Col O1l & 27% Col Pict vtc (f1% 2% Com & Sou war % Comstock Tunnel. 10 Consol Aircraft % Consol Auto Merch. . 2 Consol Copper.... 7 Consol Dairy Prod. . 90% Cons Gas Balt (3.60). 10 Consol Laundries(1) 5% Consol Retail Stores. 11% Cont Chicago Corp. . 25% Cooper Bessemer (2) 43 Cord Corp 17% Corp Sec 6 Corroon & Revnold: 556 Cor & Rey pf A (8) 5% Cosden Oll.... 4% Creole Petroleum. 9% Crocker Wheeler. . & Cuban Cane pr opt w. 16 Cuneo Pressy2%)... % Curtiss Wright wa % Cusi Mex Mining 11 Davenport Hos (2) 53% Deere & Co (m1.20).. 2% De Forest Radio. . 414 Derby Oil Refining. 2% Detroit Afrcraft. 14 Diamond Match new. 24% Dia Match cu pf (n). 35 Driver Harris new.. 2 Dubilier Cond & Rad Duke Power (§15)...1' Duquesne Gas Cp wi. 1% Durant Motor: 22 EastC&F Asso. 18% East St Pow B (1)... 5% Eisler Electric Corp. 52 El Bond & Sh (b6). 98% 91% EI Bond & Shcu pf 5. 109% 103% El Bond & Sh pf (6). 39% 161 Elec Pow Asso (1).. 37 15% Elec Pow Asso A (1) 78% 27 ElPow & Ltop war.. 107 99% EIP&L2dpfA (7)., 12 Elec Sharehold (21). 3% Empire Corporation. 99 Emp G&F cu pf (8).. 86% Emp G&F cu pf (7)., 34 Emp Pwr pt (14.60 13 Emp PSer A (i 22% Employ Reins (1 34 Eurcka Pipe L (4) 2 Europ Elec deb rts. 13 Fabrics Finishing... 12 4% Fansteel Product 2 18% Ford MotCan A t1% 10 30 Ford Mot Can B t1% 100s 614 Ford Mot France 28¢ 3 10% Ford Mot Ltd 37%ec. 2's Fox Theater Cl (A). 17 Garlock Pkg (1 20!.. 8% General Aviation 2 General Baking..... 27 Gen Baking pf (3). 3% Gen Cable (war) 9% Gen E Ltd ret (50¢). 551 Gen GAR cv pf B (6) 1008 1615 Gen Theat Eq w 14 36% Gen Thev pl [t} 9813 Georgia Pow pf 16).. 73 Glen Alden Coal (8) 9 Globe Underwriter: &% Golden Center. .. 9% Goldman S 30 Gorhgm Ine pf (3) Graymur Corp. ..... GrA&PTn-v(5).. Guard Fire Asso (2), 87 Gulf Ofl of Fa 11%)>' 24% Hires (CE) (A) (2). 35 Horn & Hard (2%) Hudson Bay M & S Humble O1} (2) Food Prod. imp Ofl of Can (50c) Imp OilCan reg (50c) 24% Ind Ter [11u Ol (A). 24% Ind Ter Illu Ol (B). 54 InsCoNAm(13),.. 7% Insurance Sec (1.40) 14 Intercontinent Pet n 50% Intl Hydro cv pf3%. 26s 13% int Petroleum (1)... 12 25% Internat Super (f1) 6% Internat Util (B)., 3 [nt Util war (new),. 5% Intersiate Equities. . 3315 Interst Eq cv pf (3). 9% Irving Alr Chute (1) 4% Italian Superp (A).. 6% Klein H pt pf (J1.20) % Kolster-Br (Am Sh). 95 Koppers G&C pf (6). 354 Lackawanna See (4) 11 Lefcourt Real t1.85. 37% 19 Lefeourt Real pf (3) 50% 30 LehC& Nn (1.40) a1 56 3 i 31 Ty (R T4 Co 3y 301 174 Lily Tullp Cup (1%4) 20 9% Lion Ofl Ref (2) ... 25 43% 25y WOULD STABILIZE PESO. MEXICO CITY, October 18 (#).— Leading bankers of Mexico were pledged today to withdrawal of millions of silver pesos from circulation in an attempt to bring up value of the stlver coin to a level nearer its par. ‘This will be accomplished by increas- ing reserve funds on deposit from 30 to 50 per cent above the present amount and ref the additional deposits in the form of silver pesos. ‘The silver peso was quoted at 8 per cent below the gold Friday, com- pared to the normal 3 per cent. A Each leaf on a tree has on it a num-~ ber of pores which open ut to regulate the tion hundred-share lots ng those designated by the letter s (80s) uw-) sold in odd lots only. Add 00, Oven. High. Low. Close. 8 8 8 ¥ oUW 160% 160% 160 109% 109% 1094 o8% 98N EVENING ~Prev. 1930.~ 15 2 20 102 3 15 2 90 102 3 15 2 90 102 8 % 160 1094 98% 24 15 5 30 10 16 30% 10% 9% 21% R 2% 16% 13 30 10% Mo Kan N (3] 501 1 % 14 35 10% 31 26 14% 951 88T 911 52 | 11w 614 1178 1054 | 117%.113% N Y Tel Mavis Bottling Mayflow Asso (32 Mead Johnson (t4%) Memphis Nat Gas MerCh &S (1.60). Mesta Machine (2).. Met & Min Inc (1.20) Met Chain Stores. ... Mid West Ut (b8%). Mid W Ut cv pf xw 6. Midld Nat Gas A 1.20 Midvale Co (4). Miller & Sons (2) Mo Kan P L vte. . Mount Prod (1.60)... Nat American Co. t Aviation. . Nat Fam St b2% % Nat Fuel Gas (1).. at Investors t Pow & Lt pf (8).100 Natl S T Sec A f50c. Nat Sugar NJ (2)... Natl Tile. . Nat Union Radlo. ew Brad Oll (50¢).. Nehi Corp (1.30).. Yew Eng Pow pt (6) N J Zine (121%) Newmont Min ( N Y Pow & Lt pt (7 STAR, WASHINGT! Received by Private Wire Direct to The Star Office R450 open. Kun, Low. Close. 6% 6% 6% Zfih » RomraS et nmannas naans PL(b10%). 8 Mapm—~ Do - PAE o . 258 pf (63%)....1008 Niag-Hud Pow (40c) 121 4419 1314 ™ 1% 116% 111 76 65% 1% % 19% 5% 20% 264 39% 23% 19% 124 13% 3% 28% 25 16% 84 11 108 95% 6315 5% 14 3 201 4 610 103% 20% 1 12 5 3 19% 64, 16% 15% 119% 119% 4 28% n FIn 83 48 M 3w T 35% 15% 20% 130 15% 4“4 8 Ple Bak 23 21% 8 9% 14 102 98% 30 23% 2 8% 4 12% Puget S Schulte Southld Niag-Hud Pow A w. Niagara Sh, Md(40¢) Nipissing (30¢). Noma EI Corp (80¢) . Nor St Pow pf (6). or St Pow pf (7). .. Novadel Agene t31; . Ohio B Tel cu pf (7). Ohio Erass (B) (16). Ohio Copper. .... Overseas Secur (1).. Pac G&E 1st pf (1%) Pac Pub 8v (1.30)... Pac Western Oil. .. Paramount Cab Mfg. Peninsul Tel (1.40) Pennroad Cp (20c). . Penn P & Lt pf (7). Penn Wat & Pow (3) Petrol Corp war. . Phillp Morris Inc Reeves (Dan'l) (1%) Reiter-Foster Reliable St (b6%)... Reliance Int (A).... Reliance Int Cor (B). Reliance Manag. . Reybarn Co. . Reynolds Invest. Rock Lt & P (90¢) . Roosevelt Field Inc. Rossia Int Corp. . Russek’s 5th Av 1. 4 Bafety Car H&L (8). St Regls Paper (1).. Salt Creek Prod (2). Saxet Co. SW Dairy Products. 8 W Gas Utilitie: Stand Holding C 70 33 1 4 4 5 . 108 1008 3 308 508 L of Am A (2). 284 Pilot Rad Tube (A).. Pitney B P n (20c).. Pitts & L E (110). .. Plymouth O1l (2) Prince & Whit (25¢). Prince & Whit pf (3) Prod Royalty (f1).. Prudential Invest Pub Ut Hold (50c. Publie Util Hold 7 104 22% 2% 16% 4% 12% 22% 2% 17% 4% 13% 10 9% 1% 1% 9% 99% 23 23 2% 2% 10 P 1 914 1% 99 23 21 10 44 1 P &Lt pf 6% 3 2 5o-31 St pt. Sec Corp Gen 140c) Seg Lock & H Seiberling Rul Selected Industries, Sel Ind al] ctfs(4%). ) ... Sentry Safety Cont, Shenandoah Corp. .. Shenandoah Cp (a3). Sherwin Will (t435). Mn Silica Gel ctfs. Sflver (Isaac) pf (7) SDI Smith (A 0) (2). So Am'Gold & Plat. . Sou Penn Ofl (1214). 1% 77 141% 138 1% 1% 8 27 714 2% 1308 12 Royalty (60c) Stand Inv pf (5 Standard Motors. ... Stand Oil Ind (234). Stand Ofl Ky. (11 80) Stand Oil, Neb(1314) Stand Oil Ohio (2% ) 1508 Stand O Ohio pf (7). Stand Pow & Lt (2). 131 314 101% 101% 89 334 12% 23 35 2% Strauss Swift & Swift Intl (13%)..,. Swiss-Am Bl pf (6) . Syracuse Wash Ma B ampa Electrie (32). echnicolor Inc. . Teck Hughes (60¢c). . Texon Ofl&Land(t4) Thatcher Sec Corp. . Todd Shipyard (4).. « Trans Lux DLFS.. Tri-Cont Corp (war) Trunz Pork S (1.60) Tubize Chatel (B) Twin St NG A pt (1). Ungerleider F Corp. . Union Am Invest. ... Un N G of Can 11.60. Un Oil Ass0 (12).... Utd Chem pf (3) Utd Corp (war). Utd Dry Docks. Utd Found b2-35 sh. 4 Urd Gas Co (new) Utd Gas (war) Utd Gas pf (7). Utd Lt & Pow A Utd Lt & Pow B (1). Utd Lt & Pow pf (6). U S Dairy (A) (5) 4 US Dairy (B).. U S Elec Pow ww. .. U 8 Foil (B) (1) m-. 1934 21% 204 8615 85% 28% 28% 35% 5% 12 10% [ 73 25% % 16 15% 24% 25 564 U S Ling Strook & Co (1) Stutz Motor Car. Sun Inv pf (3) Sunray OIl (40¢ Stand P& L B (2). .. Stein (A) & Co (1.60) Stein (A) Copf 6%.. Stein Cosmetics Roth. Co new (2). N Moo BRmaaren=e S SN aBN N xS U 8 & Overseas ctfs. US Playing Cards(4) U S Radiator (2)...., Utd Verde Ext (2)., Utd Stores. Util Pow & Lt (a1). Utll P&L B ctfs (al) Utility & Ind....... Ut & Ind pf (1%). Utllity Equities. . Vacuum OIl (4). . Venezuela Petrol. . Vie Finan Cor (40¢c). Walgreen Co. .. Walker (H) (1) West Auto S A (3). West Mass Co (2% ). 100, Wheatsworth (11 102 % Wilson 38% | 12 | 881, 12% 21 28%, 1, 331 30% 19 11 14 Daym, 13% Dividend 0t TEL dividena cash or stock b 8% In stocl % In siock. % D stock. 2L 29% 1 33% 30% 19 11 Py 143 ) Jones (3). Woodley Petroleum. Zonite Products (1), RIGHTS. Com Kdison..Feb 2 Expire. 13% 13% 13% rates in doliars based on last quarterly or semi-annual sty extra 13‘5 1Plus 4% in stoci idend £ lus 1% in_stock stock m Plus 3% I stock n Plus BRIEFS ARE EXCHANGED IN STEEL MERGER SUIT By the Assoclated Press. YOUNGSTOWN, Ohio, October 18.— Briefs in the injunction suit to prevent merger of Youngstown Sheet & Tube Co. and Belhlehem Steel Corporation ‘were exc] y by counsel for Phlntifl‘l an defendlnfil Arguments wil heard ' Monday. 'flw plaintiffs are the International Share tion and executors of the late Wick, jr. Testimony was completed September 24 after a three-month hufll\fl The court has he will take the case under advisement for several weeks before handing down a decision. GAIN IN SAVINGS. NEW YORK, October 18 (#).—Figures of the net gain in deposits by the sav- ings banks in New York City last month indicate that this was the largest for September on record, with the excep- tion of 1926. The increase is nearly | $23,000,000 with the net gain since De- cember, 1929, when the withdrawals to take care of stock market commitments and to urchne securities which were then believed to be on a bargain basis, amounting to $146,000,000. The first musical layed n! telephone Yo unt am to be re- T e . of the British |SAVINGS N SCHD0L . | satisfactory because of the extent of .|out, so that now it comprehends not 5% | The wheat market was easier today un- “* | Ganadian_Nor. FIGS (FRESH BASIS) CALIF. CHERRIES] PEARS 6 STATES FPERCENT INCREASE —> FOR -PERCENT DECREASE PEACHES nuts and vegetables. In In prospect are shown below. than average production are shown above line, with percentage of increase. "auvss CALI/ 6+% IN('R. — *oraNGES CALIF.® FLA. CHANGES IN BEARING ACREAG! CANNING SNAP BEANS 677 INCR. 1930 PRODUCTION PROSPECTS ON AUGUST 1ST AS_PERCENTAGE OF ESTIMATED AVERAGE PRODUCTION FROM 1924 TO 1978 CANNING DOMESTIC ES ONIONS MARKET TOMATOES " _SUMMER SWEET AUG.7" DFALL *AUGUST 1 TOO EARLY FOR FORECAST. | corn _ poTAmoES COMPARISON BASED ON CONDITION RELATIONSHIPS WITH ALLOWANCE POTATOES Post-drought figures compiled by the Department of Agriculture indicate better than average supply of most fruits, Base line in graph marked zero represents average production, and 1930 crops that indicate a better Crops for which less than average production ' BANKS SHOW DROP Decline of $2,849,400 Re-| vealed During Last Fiscal | Year, Says A. B. A. Report. By thy Associated Press. Unemployment is dipping into the reserve buying power of the Nation, | making particularly heavy inroads into the school savings of children. This is apparent from a recent state- ment by the American Bankers' As- sociation in which it is disclosed the net savings from this system of thrift declined $2,849,400 during the year end- | ing June 30 last, despite an increase in participating schools, an enrollment of members and in total amount of money deposited durifg the year. The tendency of greater withdrawals | during the year is attributed by the | association to widespread unemploy- ment, which declares “there can be | scarcely any doubt of the necessity on the part of parents of dipping into the savings of their children. Many banks in_forwarding their statement of re- | sults have said that deposits were un- unemployment in their respectlve areas.” As school savings have grown and at- tracted the attention of a large number of people they have taken on the add.d | idea of management, the report points only personal thriftiness, but also per- sonal management of finances on the part of children, whether the money at the disposal of the child is secured through school savings or otherwise. During the last fiscal year the num- ber of schools offering opportunity for savings under the auspices was 14,611, in which were enrolled 4,817,606 pupils, of whom 4,597,731 participated in the plan. Ninety-five per cent of the pupils enroiled were participants. Almost 2,- 000,600 participated each bank day, which ordinarily is once a week. De- posits amounted to $29,113,060 and the net sevings at the end of the year was $7.690,530. The bank balances of the participants remaining at the end of the school year, if added to their balances at the end of the previous years. amounted to the sum of $52,049.850. This sum does not include the balances of those who have withdrawn from school through gradu- ation or otherwise. The percentage gain in the number of schools was 2.5 per cent, the number of pupils to wliom opportunity for participation was af- forded increased 1.1 per cent, the num- ber actually participating, 8.9 per cent, | and the number of deposits, 1.5 per cent. CHICAGO, October 18 (Special).— der scattered selling infiuenced by the action of the Liverpool market and the weakness in stocks. December, old. opened 77 to 77%: new, 77% to 77!, March, old, 81 to 81'4; new, fil’,. ML\V old, 83 to 83':; new, 8333, it half hour December, ol 713%; March, old, 81; new, 81} old, 83; new, 83%;. Corn was lower with wheat. Decem- ber, old, opened 76% to 767; new, 6% to 76%; March, old, 78; new, 793 May. old, 80% to 81: new, 81%. Afler first half hour December, old. 763: new, 763 March, old, 73", new, 19; | May, old, 81; new, 8135, Osts were easier. opened 36': to 367, March, old, 38; old, 39'>; new, 39%. After first hnll hour December, old, 36" new, 36%: | | March, old, 38; new, 383 May, old 395 new, 39%. Provisions were weak. SKOBT TERM SECURITIES. (Reported by J. & W Beli'mug & Coo ofier. Aliis-Chalmers Co. 55 193" American Tel. & Tel. 538 m: American Thread 8iss 1938.... & Ohio 4'25 1933 Batevian Pet. Corp. 4158 1942 Bell Tel, of Canada S5 1057 California Pet. - B1as 10 i nm.i 36 De(‘embcr Chicago Rock Island 45, 24" per Co. 55 acking Co. -u,; 937 0 65 1937 G 1040, 102 General Theaters Eauip. 65 1940 Goodyear T. & R, 55 1957.. ; Grand Trunk ot Ganada 61636 10872 Guit oil of Pa 85 19 1, . 1 New York, Chi 851932 Ehilips Petroleum Co, 8% 1930 Bure"oll Corp, 814 107 "r 4 ell Unton Sinclair cmdeflgu %o, 515 1934 8tandard Ol ersey. 55 1946 sundn;fl ol N York 45 1981 So. Ry St 17 Southvestern Rii o ;. 112 Uniois O Co, of Callf 5 101 United Druz Co 5 Rubber 58 1947 Western Blectric Co. 53 104 | Wheeling Steel Corp. 2! Wheelins Steel Corp. FOREIGN EXCHANGE. shed by W. B. Hibbs & Co | {Quotations furnigned, by, Wo R &Eiiime Enecks Lopdon, pound Patis. 'franc us elg: 267615 26.76130 26.86c Dances thly at Age of 89. QUEBEC, October 18 _(¥).—Plerre Guerin is a oung fellow of 89 with side whl:kperryl yHe stole the show s e e rel ero!at...lowph. |MERGERS ARE SUGGESTED AS AID TO COAL TRADE By the Associated Press. ‘The bankers’ view of the coal in- dustry was given in Detroit this week by an official of the Guardian Detroit Bank, who referred to “certain tend- encies which seem to point to an even darker future for the coal industr: ‘These Were listed by him as increased efficiency in the use of coal for produc- ing electric power which has decreased the market for coal by 35,000.000 tons annually, similar improvements in other Industrial steam plants with a saving of 50,000,000 tons annually and a prob- able annual saving of 45,000,000 tons by railroads. With fuel oil, natural gas and/ water power absorbing a former market of 200,000,000 tons of coal a year the banker said it seems that 330,000, 000 tons annually are “lost forever to bituminous producers. The speaker suggested that the in- dustry confer with other industries which are dependent upon bituminous coal in an offort to determine a basis upon which the coal industry may earn a reasonable profit. He suggested the merger of producing units from several districts with a view of “obtaining bet. ter national coverage and shorter ship- ment to market.” B diiiig & STEEL MERGER PLANS. NEW YORK, October 18 (#).—It is expected that ‘more progress will be made in Bethlehem Steel consolidation | plans as a result of events that have happened in the past week and have been the subject of considerable gos- sip in Wall Street recently. CHICAGO STOCK MARKET 430 Acme Steel 200 Addresso Inter 300 Allied, Prod Bore-Warner 50 Brown F & 30 Burnnam Trnd 450 Bros Cont Chic bt . 1330 Sord Govs P 2300 Corn Sec 8031 897 33 Alreraft redge ey eTe 2BERINE N SR 5N, o 300 Sl o 2300 Malcatio “House” 200 Mannat. Dearhorn: 80 Mapes Cons 400 Nat- -Standard 850 Nat Term . . x, SEEE, Bond sales today. uv‘.ono ONDS, B 5000 Insull UL | 50 T Subscrtbe Today It costs only about 1% cents per day and 5 cents Sundays to have Washington's best newspa- per delivered to g"“ regularly every evening and Sunday morn- elepnane mmnn 5000 and the delive) tart imi ately. The CORN CROP MOVED ~ AT LOWER PRICES Marketing of Grain Is Earlier Than Usual—Farmers to Benefit. By the Associated Press. CHICAGO, October 18 —New corn from the 1930 crop is moving to market much sooner than usual, but at prices 25¢ a bushel lower than A Leading trade authoritles here ex- plained mday that corn is one crop remunerative to farmers this Fall, and suggested, with reeord luhlmm.hm of other grain for use as feed. Meanwhile wheat crops of the Southern Hemis- phere are now entering the critical pe- riod of their growth, and alert watch is being kept for anything which would indicate under-normal production be- low the equator. Influenced by such circumstances, the | corn market ‘this morning, cemglred | with one week back, 43a5%c a | hu<hel drop, as against 17%a2%c decline | n wheat and 1al3c loss for olh. Net | changes of provisions varied from Tc setback to a rise of 50c. Notwithstanding that the corn | is about 100000000 bushels nmn ol the average produmon ot the last flve years, some eaperts . & of corn h-s lmummnln. fluc lhe pflee in com with that of | been high in, an elpms“y 80 as evels prevailing in other coun- tries. In this connection, it is pointed out that December delivery of corn in Buenos Aires, Argentina, is about 35 cents a bushel lower than the same de- livery in Chicago. The point is also g:dedthat the corn - oe;, here has n declining as a result of sym with world-wide wheat wnknmp.::z that Liverpool wheat values have worked lower faster than Chicago, so that Chicago wheat prices are now rel- atévely n“l hl(hl;t “I.I; the world, whereas a few wel was about the lowest. hicepo Although under ordinary- conditions | a difference of nearly 20 cents a bushel | for wheat exists between Liverpool and 72 | Chicago, the two markets are at present virtually on an identical basis. In vari ous quarters the cleavage thus shown between domestic and European wheat market conditions is regarded as ukely |to sharpen from now on. A | stressed as significant is that the e sults of heavy feeding operations in | wheat are already showing in curtailed 4 | domestic receipts, with Iriends of higher | prices for wheat not slow to assert that the use of wheat as feed is likely to ex- ceed all expectation. Markets at a Glance NEW YORK, October 18 (#).—Stocks weak: many popular shares at new lows. Bonds heavy; most issues slightly lower in active trading. Curb heavy; small Iosses bring many new lows. Foreign exchanges irregular; South Americans improve. Cotton steady: predictions of | frost. Buglr' holiday. Coffee; holiday. U. S. TREASURY BALANCE. The United States Treasury balance < announced wdly, as of close of business | October 16, was $261,113,697.18. Cus- toms receipts for the month to date were 31&303,!!!.74. Total ordinary ex- penditures, $43,402,684.56. | | Since insects have very poorly devel- oped sight, smell is a very important factor, playing in many cases the part that light plays with us. work; Ouwer a Third which of a Without a Century Loss National 2100 THERE that as a juence free urly selling of corn for m&x have been | $8, UNCERTAIN TREND NOTED IN BUSINESS Weekly Reviews Report Ad- vances in Some Lines and Declines Elsewhere. Special Dispatch to The Star. NEW YORK, October 18.—Coi trends continue to characterize gen business conditions, according to the re- views of the last week by the trade pub- lications. Warm weather in some sec- tions is found as a deterrent to Fall buying, and while wholesalers report fair orders from salesmen on the road, the lack of any appreciable forward movement in industry is given as a rea- son for inability to make any prophecies as to the future. Dun’s Review says, in part: “While trade movements are still somewhat uncertain, there is less hesi- tancy in a number of branches. Steel operations have not fulfilled the prom- ises made and price pressure has been renewed. Automobile output has been further reduced, chiefly in the low- priced car divisions. In New England there has been a slight seasonal im- provement, with some industries mak- ing a fair showing, but others still ex- periencing a very slack business. The cotton goods market is not quite so active as it was several weeks ago, but the mills have orders on hand to run for some time on their present sched- ules. The instabllity in commodity grh’es is continuing to have much in- uence in maintaining industry in a rather neutral position. Effect of Politics. “While Dun's list shows that th&r: week in building materials, indications of a stable point having been reached are not definite. “Early economic readjustments are meeting the hampering force of upset political affairs in many parts of the world, unstable commodity quotations and an unemployment mulflon that is not without its apprehensive Money market conditions have con- tinued extremely easy, in view of the fact that early October normally orings the keenest demand for credit of the year. A somewhat better sentimeni n pears in some agricultural districts, rain during the week has amelio- the farmer's condition to some tent. "A little larger movement of mer- ‘handise from the United States to Inmm countries occurred in September than in ?:fuat likewise, shipments into the Uni States from foreign for uub mnnm also increased. chandise last month were B, St el a gain as to e: over August of $20,000,000 and xtgmpam of 00,000 Cotton Exports. ‘Exports of raw cotton alone in Sep- tember were valued at more than $35,~ 000,000 in uefl;&tfiz cotton move- nted year, while for decline of $124:300,000 ccvmu same period. !fldt‘tnmt'a says in tndn currents s news, with warm tions, for which generally warm weat bears most r!spomlmuty In these lines women'’s wear has figured mo:t prom- inently, both at wholesale and with heavy-weight goods returning satisfactory reports, except where eaol weather has supervened, as in thern tier of States and in Nurr.h- ern Rocky Mountain Btltefl. ‘where the first real wmm we-f.her appeared. “Among nw Indusmeu cross cur- rents are visible in a gain remd for September of 12 per cent in cot- ton consumption over . Auj ‘Kust. with a decrease of 27 per cent visible from September a year ago, whereas current. reports as to iron and steel point to a slight lowering of stecl output and a. weakening of scrap and to a lesser ex- tent pig-iron prices, which the Mlm of steel rails noted last week, and this: has not been sufficient to offset. “Carloadings for the first week of October rallied rather sharply to the seeond largest total of the year, but: the average weekly loadings for Sep- tember were slightly below those of August, with small export demand and. low prices for grains, tending to dis- courage marketing and hence rail shipments. In this connection reports of numerous idle cars and of reduced work in railway shops has been an ac- cvmpcnyln:ly unllvouhle influence.” J’EWEL TF.A SALES. CHICAGO, October 18 (#)—The Jewel Tea Co. reported that sales for the four weeks ending October 4 were $1,169,936.62, as compared with u,m.- 120.14 for the same period in 1929, decrease of 10.63 per cent. The averaj number of sales routes was 1,257 1930 and 1,189 for 1920. Four Rooms, Kitchen and Bath, $57.50 Cambria-Majestie 1324 Euclid Street N.W. IS NO SUBSTITUTY MORTGAGES THRIFT WITH SAFETY An investment in our 6% FIRST MORTGAGES —furnishes the ideal—for they encourage the thrift which puts surplus funds profitably to coupled with the safety accompanies the ample security which these Mortgages represent— conservatively ap- praised improved Washington real estate. May be purchased in amounts from $250 up. B. F. SAUL CO. 925 15th St. N: W FOR SAFE