Evening Star Newspaper, October 29, 1930, Page 13

i " INLIGHT TURNOVER "Utilities Leaders on Decline, but Losses Are Not Large. BY JOHN A. CRONE. " Bpecial Dispatch to The r. i NEW YORK, October n—-c:le-[-lg“ brating the first anniversary of its biggest day of trading and a session of most drastic declines, the curb market today turned lower, but dull. Electric Bond & Share opened off % to $4% and later added another t to its initial loss. Cities Service a lot of 8,000 shares opened at 2414, 3. Standard Oil of Indiana,opened unchanged, but later reacted. Trading on the respects. large opening transactions an times selling was orderly and therefore declines were relatively marrow. The mofdmwuwnanlyn of a merger between Na- mmh?uuumr panies mnu continued its advance. in, the first two hours today amounted h 205,500 shares, as 202, the forenoon of y's *session, 'ma numerous in- on the tape. mnot appeared on the tape March 7, last, sold at 70, or down 15 fore- §§§g ¢ ;ggga Safeway Stores second mumu,m-mmm BUCKET SHOP OPERATOR FINED $200,000 IN CANADA By the Associated Pres. - TORONTO, Ontario, October 29.— A $2,000,000 fine was impoged: today upon L W. C. Solloway of the:defunct he of ¥ E i § i § i i 25 SEP e 38333888! fzoy & FF 3 £ 2 i xutey i 2S2et Es:gsxgu;; i PEIT FPCE RELT T L -~ i & 28 5 ":%r' 28, o % SatpE8atgsase g’ & F PeIReR] et eedy -..gz' B, s UL E3:128x8e! FEE R 2 233=Senney SRS i, ERue i!sx S8E88 H 3 S PERE RRR I!! 2222323233388 SRS 25 TR £2 e 2333832821233 232RRRRI8! RS SepanEseniss g R PR A {>l‘.-“fi Egfi al 2 2 w ¥, s, FEH SRR 5:3:5::: Ses! ¥a nnm lm it 6 ovaes Jer C Plrl-ull el 238238! é,w usss;§==§§:§§_5 ssessisasEssass & FTEFESE Ll gt o S S 22 segesFesanrenised M w5000, ! - R SRERSE eme . ') o e e 2288823282 9992800 b 2 engrOrans ELTES Note—AIl stocks are sold in on dred-share lo ing those designated by fln mur [} (IDI) (25&) odd lots only. 'mc;1 ;lmu those stocks to be sold in Sales Alu Co of Am pf (6) Aluminum Co Ltd. .., Alum Goods (1.20).. Am Capital (B) Am Capital pf (3)... %« Am C P&L B (10%). PA (b10%) Am Gas & El (31 Am Invest (war. Am Invest Inc (B) Am Lt & Trac (3%) Am Maricabo. ...... Am Natural Gi Am Superpower...., Am Superpwr 1st(6) % Am Superp pf (6)... 5 AmU&G B vte ¢0c, Anchor P F (b10 Anglo Chil Nit; Appalachian Gi Arcturus Ra@ T Arkansas Nat Gas Ark Nat Gas (A).... Ark N G cu pf (60c). Art Metal Works. ‘Asso Dyeing&P cod.. As50 G&E A (a12.40) Asso Laundries. .... Asso Rayon pf (6). Atlantic Lobos. Atlas Util C Atlas Utiliti Auto Vot M cv pf pt, Aviation Securitle; Axton-F Tob A 3. Bell Tel of Can (8) Blue Ridge Cp (40c; Blue Ridge cv pfa3. Brazil Tr&Lt(b8%) Bridgept Mach (25¢ Brill Corp B. ... Bulovacvpf (3%)... Cable & Wire A rct Cable & Wire B rc Cable&W pf rets 1 - e » e B T L Lt T T T PO Or P, - Cent 8t El (ké0c). Cent St El pf (6) xw. Centrifug Pipe ) o » CorrNRRNR AR NN D ~a® ~e s an Col Oil & Gas vic. ... Com Edision (8). Com & Sou war. Consol Afrcraft. Consol Cigar (war).. Consol Copper Cons Gas Util A Con: CETT ) Contl Share cv pf (6)125 Cresson Consol (4¢ Crocker Wheeler. Cr Cork Int A (1). Cuban Cane pr opt w. Darby Petrolmn (1) Davenport Hos (2).. Dayton Alr& Eng... Deere & Co (m1.20).. De Forest Radio DeH Alr Ltd rct 50c.. Derby Ol Refining. Detroit Alreraft..... Diamond Match new. % Dia Match eu pf (n).. Dress SR (A) (3%). Driver Harris new. . Duhlllll’ Cond & Rad NANABO - AN -AE Elec Pow Asso (1)... Elec Pow Asso A (1) El Pow & Lt op war.. Elec Sharehold (31). Empire Corporation. Empire Corp (war).. Emp Corp cv pf (a3) Emp P Ser A (21.80) Europ Elec deb rts. . Fabrics Finishing... Falirchild Aviation. .. r-lny Av Ltd (12¢). % Fi ingo Corp..... Federal Baking Shop Flintkote Co (A). . Ford Mot Can A 11% Ford Mot Ltd 37%e. Fox Theater Cl (A).. General Aviat! General Baking. Gen E Ltd ret (5 Gen G&E cv pf B (6) Gen Theat Eq w. Gen Th cv pf w.A.(3). Gen W WEE A (2).. Georgla Pow pf (6).. Glen Alden Coal (8). Globe Underwriters.. Gold Coin (new) Golden Cent Goldfield Consol..... GoMman Sach T C .o Goth Knitback Mch Graymur Corp GrA&PTn-v Guardian Invest Gulf Ofl of Pa (1 Happiness Candy Hudson Bay M & Humble Ofl (2)... Hydro Elec Sec (2. Imp O11 of Can (50c) Indianapolis P&L pf Ind Ter [1lu O1l (A). Insull Ut (1b10% %) InsCoN Am (13).... Insurance Sec (1.40) Intercoast Trade (1) 1 Intl Hydro cv pf 314 .150s Intercontinent Petn 10 Int Holding & InvCo 2 int Petroleum (1)... 64 Int Utilities A (3%). 2 Interstate Equite; Irving Air Chute ( Kerr Lake \ PHE EVENING STAR, WASHINGTON, D. C, WEDNESDAY, OCTOBER 29, 1930. ~Prev. 1930~ High. Low. y A% 29 20% 55% 107 5 9% Lion O11 3% 28% 104 10% % 24% 11% 17% 104 3% 20% 20 Premier Propper Rich O11 Utd Car us 78 3 28% 28% 17% 16% 105% 105% Y% 22! &l 8% in stoek & Plus 2% in stock. kPlus 8% in stock. Loew's Inc war) . Lone Star Gasn ( Long Isl cu pt B (6). 5 1 Louisiana Lan & Ex. MacMarr Stores (1) Marconi 1 Mar (38¢: Marion Steam Sh Mass Util Asi Mavis Bottling. McCord Rad&Mfg B, Mead Johmson (t414) Memphis N G (170c). MerCh &8 (1.60). ... Met & Min Ino (1.20). Met T Co pt pf t3% Mid St Pet vtc A. Mid St Pet vtc B Mid WSt Ut (1%). 14 W Newport Co (2) N Y Transit (11.80). Nxa;-nua Pow (40c) 1 Noranda Mines (2).. No Am Aviat A war.. Nor Europ O] Corp.. Nor St Pow A (3) ©Ohlo Copper... Ohio Ofl n cu pf Oilstocks Ltd A 50c.. Outboard Mot (A)... Plc Pub Sv (1.30) l ec P-nmoum Cab Mfg. Pender D Gr A (3%) Pennroad Cp (20¢) Prince & Whit (26¢). Prince & Whit pf (3) “Prod Royalty (£1).., Prudential Inves Pub Ut Hold (50¢c).. Pub Ut Hold x.w... Swift Intl (13% Syracuse Wash M Tampa Electrie (32) Technicolor Ine Teck Hughes (6! ‘Tran Con Afr Tran. Tri-Cont Corp (war), Trunz Pork 8 (1.60).. Tubize Chatel (B)... Ungerlelder F Corp.. Un N G of Can 11.60.. Utd Am Ut (b2% %). ot ( Utd Lt & Pow A Utd Lt & Pow pf Il). U S Dairy (A) (5) U 8 Dairy (B). U S Elec Pow ww... U S & Int Sec 1st (§) UlLfllllnf 1).... Us & 0v seas ctfs. US Play} Utd Verde Ext (1), .. Reeeived by Private Wire Direct to The Star Office Sales— Dmmd nu mu ou.. ll.n. Lov. Oidke. 1 Leopard Ofl. % FARMERS ASSISTED BY CREDIT BANKS L3 ‘a Federal Agencies Act to Re- 1 lieve Stringency Caused by Recent Drought. Progress is being made in the drought areas in the formation of agricultural credit corporations which will discount farmers' agricultural paper with the Federal Intermediate Credit Banks, and % | many local banks in sgricultural com- munities have made contacts with the Federal institutions, which may prove helpful should there be a necessity to s | discount farmers' notes with them. In Miss Riv Pow pf (§). m. Montecatini deb rts. . Mount Prod (1.60). Nat Aviation. Nat Pow & Lt pf (§). Natl ST Sec A f50c.. Nat Sugar NJ (2). Nat Union Radio. New Brad Of1 (50 Serbmre Tua¥ O L3 F I 3 TSI Y- O JOpN Gold (24¢).. MecCallum, Pyrene Mfg (30c. Relter-Foster. . Reliance Manag. .. Reybarn Co. . Reynolds Inve: Cal pt a Roan Antelope Min Rock Lt & P (80c! Rossia Int Corp.. Safety Car H&L (8). Safeway 8 w(2d4)(C) 30s St Regis Paper (1).. Salt Creek Prod (2) Saxet Co........ Schift (The) Co (2) Schulte Un Bc-31 St. ., Seaboard Util (50c). Seg Lock & H (50¢c).. Seiberling Rubber... Selected Industries. . Sel Ind all ctfs(43). Select Ind pr (5%).. Sheaffer Pen (13).. Shenandoah Corp. Shenandoah Cp (a Silver King Coal (1 Smith (A 0) (2). 8o Am Gold & Pla Sou Penn Ol (1214). SoCal EApt B (1%), Southern Corp. 8 W Gas Utiliti Standard Motor Stand Oil Ind (23%) Stand Oil Ky, (11.80) Stand O Ohfe of (7). Stein Cosmetics » EETTTSTS PPASTARYY - s 2 a Fast (60¢c).. @ ‘seas war. Cards(4) P L CE EINISEL P PSP B - R L T T T T PR TP AT Utility & Ind. Vacuum 011 ( Winter (E.nn “Y" Oll & Gi Zonite Produe RIGHTS. Expire. Com Edison..Feb 2 Peop GL&C.. rates in dbliars based on last quarterly or semi-annus! 8% 14% 10% 2o 14% SJen 18 1 10% 14% 10% 145 10% *Ex dividend. ftPartly extrs 3Plus 4% In cash or stock. b _payable in stoek o mu-l-.::kfi tdend-t Pros d. £ Plus wtock. § Plus mPlus 3% in stock. n Plus [ m-tuk. b Pl 10% 1a TR UNITED RAILWAYS NET INCOME DROPS| Decrease of $31,498 Shown for Month of September, Despite Higher Fare. 74 | Special Dispatch to The Star = >8P - a 3B22BRATISS: ety 'z WEEEF RS 3338888323523 e o By e s BALTIMORE, October 29.—Net in- come of the United Railways, which controls the trolley system of Baltimore, during September was $10,050.17, a de- crease of $31,498.60 from figures for the same period last year, despite the fact that a straight 10-cent fare prevailed v,hl- year, against a 7';-cent fare last| Br ssel ng to a statement to accordi 1 the Public Service Commission yester- e Athens: company experienced a decline of 15.57 per cent in the number of ngers, hnvmgourned 13,- compared pense also showed a decrease, however, dropping from $908,470.54¢ in Septem- ber, 1929, to $873,685.60 in the same month of 1930—a decrease of “$34,- | | 784.85, or 3.83 per cent. i Decreases in both total revenue and | total ~ operal expenses also were | noted m the nine-month period ending | Begu ber 30. The total revenue was | noel lo a decrease of $186,104.13 | "u%!: 1920, when the flmre WAS uz 7 rating expenses, which totaled 48, 101!« in 1929, uropudwu:u.— 036.43 this_year, a of $117,- 042.21, or 1.38 per een& P FOREIGN EXCHANGE. (Quotations furnished by W. B. Hibbs & Co.) Nominal old Selling checks London, pound ! Paris, 'tranc. .. IMPROVEMENT IN GERMAN STEEL EXPORTS SHOWN By the Associated Press. Commerce Department advices report improved conditions in German exports |of iron and steel products last month, while imports of these articles continued to decline. Shipments during the month regis- tered a total tonnage of 315962 tons, the largest total for any month since May and an increase of 23,470 tons over the trade of A t. This “w:u cnuodw divided, while only seven classes registered losses. The shipments of bars, rods and angles increased by 17,721 tons, as compared to the pre- vious month, while those of wrought iron pipe were lll“el’ by 3,937 mnl and those of blooms lnd losses were plates 3,389 tons. 'nle greates! in_the shlpmenh of - |and sheets, 3,363 tons, and cast iron pipe, 2,452 tons. Imports during the month dro} 81,958 tons, the lowsst total billets by | Ge the Louisville Intermediate Credit Bank district, covering Kentucky, Tennessee, Ohio and Indiana, 10 corporations have been set up and are dalnz ‘business and A4S many more are the progress of nization. !nd.(uunnl point w a T greater number being organized before lh. turn of the year. These usually have an corporations authorized capital of $25,000 to $50, MW and ordinarily will be able to discount farmers’ notes to the extent of six or eight times their paid-in and unl.m- paired stock and surplus, according to the character of the paper offered for discount. Thus provision has been made to bring 'into lhh district a large sum of “new” money, for the Federal In- termediate secure most, of the money which they loan from the sale of tax-exempt debentures in the mge money oenun. principally in the N'w Credit Agencies. Likewise, in the Houston Federal In- termediate Credit Bank district, which covers the vast State of Texas, two credit corporations have been otfllntfld recentl lnd three or four more are likely o] in the near !\l- ture. Tho two recently organized will likely accommodate the farmers with lnnnl of three-quarters of a million dol- ars or more, since they have a capital ol $50,000 each. There are now 20 ag- ricultural credit corporations or live stock loan companies doing business in the State and they have outstanding loans discounted with the Inumldhu Credit Bank nmmflnf pproxi- mately $14,000,000 being a larger sum than at any time since the bank was_established in 1925. Bink officials at Houston have urged the establish- ment of corporations with capitalization of $50,000, instead of the minimum un- der the law of $10,000, feel larger institutions would en: pay for better management. They also stress the fact that, although they are endeavoring to be of istance dus the drought troubles, the banks are emergency institutions, but are serving year in and year out in increasing vol- ume both by discounting farmers’ notes given for -‘Hc\mu lending to farmers’ co-operative mar- keting associations' upon warehouse re- ulpu representing staple agricultural ccommodities. Other Sections. An effort is being made in the St. ‘STOCK AND BOND FINXNCIXT/. AVERAGES By the Assoelated Pross, Prom Yesterday's 5:30 Bdition. STOCKS. QUARTERLY REPORTS DAMPEN OPTIMISM IN WALL STREET|: Special Dispateh to Ths Star. NEW YORK, October 29.—The optimism that’ has been increasing in Wall Street during the past week was modified today by the quarter] npom e s 351'0:.40 P\Izl & lron, Muclnt its 50 per cent n!ne ‘months array of figures commen! pmdueunn has declined to no r eont according to one authority, to 49 per cent on the reckoning of another, against between 52 and 53 per cent & Week ago. Outlook Clouded. in commenting m the purposes and by | ¥ not willing to, negotiate additional equipment trust certificates, on which the ordinary cash requirements are con- siderable. In such a situation the equip- ment manufactured would undoul assume the 20 or 25 per cent portion of the cost. Accepting the fact that average prices of steel are at the lowest level nw since 1921, Wall Street was lool the records today of United States Corporation independents in the earlier years of de- ts | pression and comparing them with those that have been reported for the first nine months of 1930. U. 8. Steel Report. ’ X-13 STEEL PRODUCTION AT LOWER LEVELS Weekly Review Notes Further— Decline in Prices for nml demand hol ing up fairly well, and with a modenu luwuntotn it is ible tha gs and some of the | steel ouf ‘The united States Corporation, for | if arr Instance, has just shown that in the Jan -September earned nearly $8.50' its common stock, or 113 per unz lbov: the 13- month irements for dividends on this atock. In 1921 the Steel corpon tion, under trade conditions described as_the same as now prevailing, only urnldauunlhemmonlfiock.m ended that year with a deficit of over $14,000,000. sl.nm the depression of nine years ago, both the United States Steel on and Bethlehem Steel Corporation have radically changed portion o bonded.indestedness 1o stock el 58 o 8 greatly reduced. (Copyright, 1930.) PRICE INDEX SHOWS ONLY SLIGHT CHANGE The wholesale price index of the Na- tional Fertilizer Assoclation, consisting of 476 quotations, again showed a de- L cline of oply two fractional polnts for to |the latest week. The index number Louis bank district, covering Arkansas, | in other Missouri and Illinois, to form credit cor- porations in each of the subdivisions of those States, as divided by the State Bankers’ Associations. One has already ra been established at Pine Bluff, Ark. The | t] bankers in the district covered by the Federal Intermediate Credit Bank at Baltimore—Maryland, ~Virginia, West Virginia, Delaware and Pennsylvania— have shown much interest in the sub- |t ject of intermediate credit but to date only one association has been organized to meet the demand for credlt due to drou.nt cond!t!nlu Bankers in the New Orleans t also are showing inter- est in the subject. Some local banks in agricultural communities throughout most drought districts have arranged for a line of credit with the Interm u Credit Banks of their district so may discount !lrlnen noul with Lhel'n should the necessity NEW YORK COTTON NEW YORK, October 20 (Special).— Initial cotton prices today showed wic> me(ullm’y, with ini° al quotations rom 14 points lower to May 12,02 off 13, and July, 12.35 off 7. Redliidbe, CHICAGO LIVE STOCK MARKET CHICAGO, Oetabtt 29 ( (Unlkd States Department of B ‘Receipts, 18,000 head, lncludkl( 0 head direct; rflhll' slow; lt!onl to 10 hl'her. top, bulk, 00 4029.60 light, good_and choice, 140-160 pounu 9.1089.35; light weight, 160-200 pounds, 9.2529.50; ~medium weight, 200-250 hnvy weight, 250- 4029.65; packing sows, H ed.\unl:. cood 115-500 mfldfll ‘;l ;I:: 85; slaughter rood and choice, 100-130 pounds, l.fiu .25. Cattle—Receipts, 12,000 head; calves, receipts, 2,000 head; yearlings scarce, steady; fum weight and weighty steers in fairly liberal supply; 25 lower; best yearlings, early, 13.00; some held higher; outstanding 1,500-pound bul- locks, 12.50; but very little done on gen- eral run weighty bullocks; undertone weak other classes stockers and feeders. Slaughter cattle and vealers: Steers, good and choice. 600-900 pounds, 11.50a 13.75; 900-1,100 w\lndl. 10.25813.75; 1,10081,300 pound- 9.50a13.00; 1,300- 1,500 pounds, 9.25a12.75; common and medium 600-1,300 pounds, 6.0089.75. Helfers, and choice, 550-850 pounds, 9.50a13.00; common and me- dlum. 5.00a10.75; cows, good and choice, 25a8.00; common and medium, 4.00a 550 low cutter and cutter, 3.25a4.00; bulls (yearlings excluded), good and choice (beef), 5.75a6.75; cutter to me- dium, 4.2526.25; vealers (milk fed), and ice, 9.00a11.50; medium, 9.00; cull and common, 6. stocker and feeder cattle, steers, and choice, 500-1,050 poun: X 9.00; common and medium, 5.00a7.00. Sheep 13,000 head; strong to 25 higher; better grade fat lambs, scarce and showing most advance; bulk lood to choice natives, 8.00a8.50; top paid by city butchers; range feeders, ISDIH 75; lambs, 90 pflund.! down, good and choice, 17.5088.75; medium, 6.50a7.50; all weights common, 5.0086.50; ewes, 90-15 medium to choice, 2.00a3.75 cull and common, 1.00a2.50; feeding lambs, 60-75 pounds, good and choice, 6.75a7.50. "SHORT-TERM SECURITIES. (Raported by J. & W. Seliemap & Co) Allis-Chaimers Co, by 1937 i "".';’. American Thiesd Baitimore & Ol se555s SIS ;" SSeesEss 232828333 P m SRNPEE 8 9258583582555 5s: York. Ohi. Enilips Pet. Co. 81 re Oil Corp. § 1l Union stands at 82.9 on October 25, compared among the lambs, b uriny, | S8r103 and » in the list of 21 commodi- ‘were n, cotton- tile, eggs, close of e 27 was °$220,144.996.33. for the month to date ‘Total ordinary ex- this year it | mall oooum. M'flb‘l in the "sml tinues to show the extreme cat 000 tons ite - effects of ol ution mvpnnlenumou Progress despite depression. .. OM July 1st to date the Chase National Bank of the City of New L York, Trustee, has received dividends and other distributions on the stocks comprising CORPORATE TRUST SHARES in excess of the amount required for. the minimum coupon rdte on the Shares for the entire half-year period ending December 31. Moady's Compasite Portfolio Rating "A” CORPORATE TRUST SHARES .In addition to this minimum $0.35 semi- annual payment all other dividends and distributions received from now to the end -of .the year will be paid to holders of the Trust Shares. represents an ownership interest in deposited common stocks of these 28 Companies— New York Central Illinois Central Experience has shown that strong com- panies continue to progress in good times .and bad. The managements of the 28 com- panies represented in Corporate Trust Shares have guided them successfully through wars, panics and depressions in the -past. These companies have an average age of 58 years. Their tested managements are an assurance that any condition will be met with equal success in the future. Dividends on these stocks have been paid without interruption for an average of 33 years. The sound investment character of* these companies has been further demon- strated during the present period of sub- normal business by. a continuation of earn- ings well above dividend requirements. The present offers an exceptional oppor- tunity for investment in these companies, Buy them as a group and hold them as a group through— CORPORATE TRUST SHARES Price at Market, about 7% per share Descriptive circular on request GrRAHAM, PARSONS & Co. 1422 WALNUT STREET PHILADELPHIA 300 SOUTHE! Tel 48 WALL STREET