Evening Star Newspaper, October 31, 1930, Page 15

b N SELLING DRIVE Utilities, Oils and Industrials £ Forced Down—Other i Groups Affected. - T BY JOHN A. CRONE. @pecial Dispatch to The Star. NEW YORK, October 31.—Weakness exhibited at the opening of the Curb Exchange today in pivotal public utility, petroleum and industrial shares spread to most sections of the list as trading progressed. Electric Bond & Share opened down fractionally, rose nearly s point and then eased. Middle West Utilities and' Niagara Hudson Power pointed upward, but American Gas & Electric and Com- monwealth Edison, the latter off about 5 points, softened. Cities Service opened @ shade lower and showed little dis- position to reverse that trend. American Utilitles & General Corpora- tion, the company which has sold American Fuel & Power Co. to Colum- bia Gas & Electric Corporation, thereby mfiflnl the latter to enter the t field, opened unchanged at 5's and remained inactive during the fore- noon. Although the natural gas trade un- derstands this is merely one of the first moves in the Eastern flelds, shares of the industry quie after their recent bulge. National Fuel Gas at 28% opened off . Duquesne, Ap- palachian, Lone Star Gas and United Gas were reactionary in the first few The volume of transactions in the forenoon amounted to only 160,300 shares, the smallest total in the first two hours of any day in October and not approached since September 18, when sales were 165,700 shares up to noon. Standard Oll of Nebraska at 41 was the first in that oil division to touch & new low for the year. Gulf Oil of 8t 80 enjoyed a similan the miscellaneor eum shares. . Southern Pipe Line rose 2 points fol- lowing the announcement that it had declared a dividend of $1. It has dis- tributed $5 from the capital stock re- duction effected September 2 last. Na- tional Transit resumed its advance, but Northern Pipe Line fractionally reacted. New Jersey zinc, in response Bridend, ‘oponca up 8 potat. Iater do- n up & lo- clining. Anllfl-Chrhln Nitrate, how- ever, made little response to the com- ing conference here of bankers and BLUE CHIP STOCKS HIT BY HEAVY LIQUIDATION VOTE ON LIQUIDATION. NEW YORK, October 31 (.—A meeting of stockholders of the Winslow Lanier International has been called for November 21 to vote on liquidation. On October 25 the ration had cash and marketable secur- of $6,015,503, equal to $55.57 a and also unlisted securities of 41 Y 80%s o 8 100% 190% 106% % 90% 90% 0D e 0 000 O RS e b i1 SR Pr ] 3 G 90's 90 90%, - 102% 102% 102% "40 90% 99 99% i‘ 0l 2 ;w- 2% £ e N & 35PR0e od Str Real 5 Se: 3 5135 '8 ks ¥ 3!-'..‘3’-5 lele] FipSa0a00 332332 2333233282 -3 v PEEE corpo- | 162% % 3 s 881 38Y% e 1031 102% o i . 3 i S .s.g & o 5 O = !::g i te i B # 7]" i 87! 101 £ o o4 1013 9 ™Y 0% Y% pitha i & o'as 'A. ;. Wit] ts. IEoihout warrao. When issued. B £ 2 | cents more than the INANCIAL. Note—AIll stocks are sold in one h excepting those designated which shows those stocks ! 930.~ Stock and High. ‘Low. Dividend Rate. 18% 4% Aero Supply (B) 204 14 Afiliated Prod 1.60. 334 5 Alnsworth Mfg33%, 115% 111 ™ 2% Am Cigar Co.. 8% Am CP&L B (10%). 16% Am Com P A (b10%) 37 10 AmCyanamld (B).. 112% 110 Am D T NJ ev pf ( 22 8% Am Equitle 76% 20 Am For Po 157 85% AmGas& Fl (31). 50 Am Hard Rub (4). 5% Am Invest Inc (B).. 49% AmLt& Trae (3%). 59% Am Meter (new) 6% Am Natural Gai 14 Am Superpowe . 5 AmU&G B vte 40c.. 5% Anchor P (b10%). 14% Anglo Chil Nitrate 6 Appalachian Gas. 74 Arkanmas Nat Ga: 7% Ark Nat Gas (A) 5 Art Metal Works. .., 4% Asso Elec Ind (30c). 22 AssoGas & Elec. ... 2% A330 G&E (A) dbrts 3 Aeso GAEI pur rt. 87 As30G & Elctfs (8). 21% Asso GAE A (a+2.40) 89 AssoG&ED! (5)... 1 Asso Laundrie 38% Asso Rayon pf (6)... 19 Asso Tel Util (b8%). # Atlantic Fr & Sug. 5% Atlas Utfl Corp. ... .. 7% Auto Vot M ev f pt. 24% Aviation Cor of Am.. T% Aviation Securiti 157% 146 Bell Tel of Can (8) 16% 3% Blue Ridge Cp (40c). 32% Blug Ridgecv pfa3d. 14 Borne Scrymser (2). 20% Brazil Tr&Lt(b8%). 17 Brit-Am O11 € (80c).. 24% Buft N&EP pf (1.60). 30% Bulovaevpf (3%) 5_ Bureolnc..... . % Burce Ine (war). 13 Cable & Wire B rets. 2% Cable&W pf rets 19c. 2% Canada Marconi, . % Carlb Syndicate. 18 Carman & Co A (2) 25 Carnation Co (j1%).. 4 Carnegie Metals. ... 48 Celanese 1st pf (7%) 79% Celanese Cor pf (7).. % Cent Atlantic States. 16% Cent & SW Utb6%. . 19 Cent Pub §vc A al.76 12 Cent 8t Kl (kd0c).... 74 CenStElcvpfn 4% Centrifug Pipe (80c) 2% Chain Store Devel. .. 25 15% Chat Ph Al nv (50¢). 114 106% Childs Co pf (T)..... 46 43% City Sav Bk Ltd 4.19. 44% 22% Cities Serv (g30c)... 98% 88 CitlesServpf (6),... 8% 2% ColonOfl....... 3 4 Colombia 8yndicats. 21 5% Col Oil & Gas vte. . 54% 274 Col Plet vtc (f134) PSP P ) D10 DD n e i Yoo 3% Comstock Tunnel. ... 10 Consol Afrcraft. % Consol Auto Merch. 1% Cons Auto M cu pf. ). Cons Gas Util A 2.20. 2% Cons Royal Oll (50c) 46% Consol Trac NJ (4). 50s 50 Contl Share cv pf (6)400s 24% Cooper Bessemer (2) 6 % Cusi Mex Mining. 11 Davenport Hos (3). 3% Davis Drug Stores. .. 2% Davis Drug St cv pf.. 2% Dayton Alr & Eng... 53% Deere & Co (1.20). 2% De Forest Radis 1% Detroit Afrcraft..... 16% Detroit Gask (1.20)., 14 Diamond Match new, 24% Dia Match cu pf (n). 12% Douglas Alr (76¢)... 27% Dresser Mfg (B) (2). 2 Dubilier Cond & Rad. 5% Duquesne Gas Cp 1% Durant Motors. 2 Duval Tex Sul wi, 18% East St Pow B (1) 35% East Util Asso (3)... 5% Etsler Electric Corp. 50 Elec Bond & Sh (b). 91% Kl Bond & Sh cu pf 6. 15% Elec Pow Asso (1). .. 14% Elec Pow Asso A (1) 25% El Pow & Lt op war.. 12 Elec Sharehold (31). 2% Empire Corporation. 28% Emp Corp ev pf (a3) 5 Empire Fire Ins..... 31% Emp Pwr pt (14,60). 124 Emp P Ser A (a1.80) 22% Employ Reins (13%). % Engineers Gold... 34 FEureka PipeL (4)... 2 Europ Elec deb rts. . 1 Evans Wallow Lead. % Fabrics Finishing... 39'4 Fajardo Sugar.. . 4% Fansteel Products. . 3% Federat Cap (380c).. 17 Federat Cap pf (1%) 11% Federat Metals t1%. 18% Ford Mot Can A 113 10% Ford Mot Ltd 37%e.. 2% Fox Theater Cl (A). 644 Gen Alloys (80¢)... 813 General Aviation. 1% General Baking 27 Gen Baking pf (3) 9% Gen E Ltd rct (50c 24% Gen Firepr (12%) 55% Gen G&E cv pf B (§). 12% Gen Theat Eqwi.... 35 GenThcvptw.i(3). 98 Georgia Pow pf (6).. 65 Glen Alden Coal (8). 814 Globe Underwriters.. 4 Golden Center. .. % Goldfield Consol 9% Goldman Sach TC . % Goth Knitback Mch. 26 GraymurCorp...... 180 GrA&PTn-v(5).. 115% GrA &P Tt (1)... 10 Grief & Brother.. 5% Groe Strs Prod v.te.. 80% Gulf Oll of Pa (1%). 1% Helena Rubenstein. . 24 Hires (CE) (A) (2).. 5 Hollinger Gold (60¢! 33 Horn & Hard (2%).. 5 HudsonBay M & 72% Humble ONl (2)... 25% Hydre Elec Seo (3 2% Hygrade Food Prod. 16% Imp Ofl of Can (5 25 Ind Pipe Linen ( 8% 9% - - 2 P e L L L L o - 2 AN A TN ERBR T TN BN E B S8es 4 43% Insull Ut (1b10% % 54 InsCoNAm (13)... 7% Insurance See (1.40) ontinent Petn troleum (1)... 25% Internat Super (f1).. CONSOLIDATED GAS CO. COVERS ANNUAL DIVIDEND | Special Dispatch to The Ster. BALTIMORE, October 31.—Ea: of the Consolidated Gas, Electric Light & Power Co. of Baltimore for the first nine months of the current year were equal to $3.93 a common share, or 33 dividend require- ments for the 12 months. Gross operating revenues of the com- pany for the third quarter of this year .u:‘a“ $6,352,686.77, & d-em& of $54,- - with corre- sponding period last year, according to the letter 10% Ala Pwr cum pf (7). 50s 114% . 2 ™ e oo mNAWCIAL., _THE EVENING STAR, WASHINGTON, D OC, FRIDAY, OCTOBER 1 80 FINANCIAL, > A STOCK AND BOND AVERAGES By the Associated Press. THURSDAY, OCTOBER 30. 8 (808) (2508) in odd lots only. n. High. Low. Close. 5 B 5 T U 1 | sasn or sioek BEss & report just filed with the Public Serv- ‘The average number of ecommon shares outstanding during the nine months this year was 1,124,541, on which the amount earned share was $393, as against 1,013,047 shares in 1929, on which $4.64 was earned per | share. For the first three-quarters of the year the company sold more kilowatts ;:kr‘:rl‘ec:.rnkny and more cubic feet of gas corre: 1920. The busi -von::: perlod tered as & tuted, and on- Stock and Dividend Rate. Int Util war (new).. Internat Util (B). . Interstate Equitie: 5 Irving Air Chu w 2 Kirkland..........o % Klein H pt pf (J1.20). 5 Kolster-Br (Am 8h). % Lakey Foundry. 3 Leonard O11. Lily Tulip C Lion Ofl Ref (2)... Loew’s Inc deb rts. Inc war) tar Gasn (1).. Paramount Cab Mfg. Pennroad Cp (20e).. Penn Mex Fuel (2). . Penn Wat & Pow (1) Peop L & P A 82.40.. # Premier Gold (24¢).+ Prent Hallcv (3).... Prince & Whit (26¢). Prince & Whit pf (3) in | timore an i o it o 3o Received by Private Wire Direct to The Star Office Sales— Migh. Low. Close. 2% 2% 2% % 2% ™ % Mavis Bottling Mayflow Asso Memphis N G (170 Mexico Ohio Ofl. Mid St Pet vtc B. Mid WStUt 1% Mid West Ut (b8% Mid W Ut cv pf xw 6. MidlandUnited war.. Midvale Co (4)...... Mo Kan P L (b10%). Miss Riv Fuel bd rts. Montecatini deb rts.. Mount Prod (1.60) Natl Banksve (5) Nat Fuel Gas (1 Nat Investor Nat Sugar N J (3) Nat Transit (1). Nat Union Radio Nehi Corp (1.30).... Nelsner Bros pt (7). Newberry (JJ) 1.10.. New Eng Pow pf (6) New Haven Clock(1) NJZinc (12%) 4000 New Mex&Ariz Land % Newmont Min (f4).. Newport Co (2). N Y Tel pf (6%) N Y Transit (11.80). Niag-Hud Pow (40¢c) g-Hud Pow A w.. Niag-Hud Pow Bw., Niagara 8h, M (40c) Niles-Bem-Pnd 13% . Noranda Mines (3).. Nordon Corp Ltd... . Nor & So Am Corp A. Nor Europ Oll Corp. . NorPL (15)... . North Wevpf (3).., Ohio B Tel cu pf (T). Ohio Copper.... . Oilstocks Ltd A 60c.. Orange Crush (1.50). Outboard Mot (A)... Pac G&E 1st pf (13%) Pub Ut Hold (50¢) _ Pub Util Hold x.w Pure O1l pf (6). R R 8h Corp (25¢) Reliance Int (A). Reliance Manag. Reybarn Co. Reynolds Inve, : Rich Oil Cal pf (1%) Roan Antelope Min., Roosevelt Field In Rossia Int Corp....e Ryan Consolidated. . Safeway S w(2d) (C) St Regis Paper (1).. Salt Creek Prod (2, Savoy Oll. Shenandoah Cp (al). Silica Gel etfs . Smith (A O) (3) Solar Refining. . Sou Penn 011 (13%).. SoCalEdpf B (1%). Southern Corp. So Pipe Line (12) SouthldRoyalty (§0e) 8 W Gas Utllitie SW Penn P&L (1) Stand Dredging $60c. Stand Holding Corp.. Stand Of] Ind (3%) .. Stand Oll Ky, (11.80) Stand O1l, Neb(t3%) 1 Stand Oi1 Ohlo (3%). 2 Stand O Ohlo pf (7). 3208 Stand Pub Sv vte. 1 Starrett Corp......o 2 Starrett Corppf (3). 2 Stein (A) &Co (1.60) 1 Steln (A) Co pt 6%..1508 Sun Inv pf (3).. . Sunray Of) (40¢). ... Swift & Co new (2). Swift Intl (133 Swiss-Am El pf (8 Syracuse Wash Ma B Tampa Electrio (32). Technicolor Ine. ... Teck Hughes (60¢). Thermotd Co pf (1).. Timken Det A pt (7). Todd Syndicate (4)., Tran Con Afr Tra Trans Lux DLF 8. ., Tri-Cont Corp (war). Tri Utilities pt (3).. Tubise Chatel (B)... Ungerleider ¥ Corp. . Un N G of Can 11.60.. Un Oil Asso (32). Utd Corp (war) Utd Dry Docks. ... Utd Found b2-35 sh. Utd Gas Co (new) Utd Gas (war). Utd Gas pt (7). Utd Lt & Pow A (1). Utd Lt & Pow pf (6). Utd Ret Ch pf (3%). U S Dairy (A) (5) U S Dairy (B). U S Elec Pow ww. .. U 8 Elec Pow (war). Finishing. . Foll (B) & Int (1). vacuum Ofl (4) Vie Finan Cor (40¢). Vogt Mfg Co (3). WalgreenCo...... Walgreen Co (war) ‘Wil-Low Cafeter; Zonite Products (1), RIGHTS. Explire. Peop GL&C...Jan 15 8% 1 10% 10% Dividend rates in doliars based on iast quarterly or semi-sanus! oayment. * B3 dividend. YPartly extre b _payable in stosk. 1+ $Plus ¢% In stosk & Payable In Adjustment dividend f Plus 1% T R0 " T o RS JFI m.mnlnlm“hfl.ww Increase in the number of common shares has besn due to the s extensions its financing of through an issue of common SILVER QUOTATIONS. NEW YORK, October 31 (#).—Bar silver, 357 e DlnlzLWllllrd. president of the Bal- Ohio_Rallroad, in answer to FERRT R we will earn our ¥ | from the Sout . 0. HUGE NITRATE DEAL IN CHILE PLANNED Formation of $360,000,000 Organization to Be Consum- mated in U. S. Soon. By the Associated Press. * BANTIAGO, Chile, October 31.—The Associated Press has learned that the final and most important step in the international campaign to stabilize the nitrate industry will take place in Wall street late in November and early in December. Plans for the conferences in New York to finance a $360,000,000 co-oper- ative company, known to the nitrate roducers as the “Cosach,” were given ere by Alfred Houston, genmeral man- ager of the Guggenheim interests in | Chile and member of the Cosach Board of Directors. His announcement followed the de- parture for the United States of repre- sentatives of private interests identified with the Cosach. : Due in U. S. Shortly. Mr. Houston said the group would arrive in New York on November 28, after a visit of two weeks to the nitrate fields in Northern Chile. At about the same time the Chilean government in- tends to send official representatives to participate in conferences between bankers and important nitrate pro- ducers. Mr. Houston sald the role of the bankers would be particularly important in the present effort to lift the industry out of its difficulties. “The world’s financial markets now are in a highly unsettled condition,” he sald, “making any large scale financing difficult. But even under these condi- tions, and in tion with the government, we are hopeful of making the arrangements essential for the for- mation of the Cosach.” Bonds Will Be Seold. Tentative plans call for the sale of long-term bonds in the United States. The Cosach, which is the trade name for the Compania Salitrera de Chile, was recently organized after conferences %|of Chilean producers with European producers of snthetic nitrates. It is to be capif at 3,000,000,000 pesos, or about $360,000,000. A half in- terest immediately goes to the Chilean government, which will terminate the present export tax. ‘The other half goes to the assoclated companies. NEW YORK COTTON NEW YORK, October 31 (Special) Initial cotton prices today were changed to 7 points lower. ing made its mon and held them to levels, but a renewed supply of contracts h in distant positions off- set Liverpool and continental purchases. ogeninc prices were: December old 11.20, unchanged; December new 11.21, off 4; Jan new 11.35, off 5; March N 11.77, off 4, and July 1 \ \ W N AR FRIDAY, OCTOBER 31, 1930. FINANCIAL. STOCKS. h, 1930 930 ELECTION WAGERS ARE FEW IN STREET Broker Fraternity Manifests Little Interest in Out- come of Contests. Special Dispatch to The Star. NEW YORK, October 31.—“Never so dull,” declared Wall Street betting com- missioners when queried today on the extent of election wagers. Only three contests thus far have produced actual cash wagers and the biggest bet is only $10,000, compared with $100,000 wagers two years ago. Dwight W. Morrow, Republican, is 4-to-1 favorite over his Democratic o] ponent, Alexander Simpson, in the New Jersey senatorial contest. Gov. Frank- lin D. Roosevelt, Democrat, is a 5-to-1 favorite over his Republican oprment. Charles H. Tuttle, succeed himself as Governor of New York. u! . Brodsky, Democrat, is a 5-to-1 favorite over his two opponents, Mrs. Ruth Pratt and Heywood Broun, Republican and _Socialist candidates, respectively. for Representative from the seventeenth New York district, while Broun is a 20-to-1 favorite over Mrs. Pratt, incumbent. The James Hamilton Lewis-Ruth Mc- Cormick tilt, out Illinols way; the Coolidge-Butler match in Massachu- setts and the Cooper-White bout in Ohio do not exist so far as Wall Street bettors are concerned. Indeed, so bet- ting commissioners declare, it is un- usual to see such little interest taken in elections outside of the Greater New York district. “The boys with the long green that Tailored at Fashion Park Pusvavasn®o! have & hankering to lay down their money lack the cash this year,” ex- gl:.lned Ola. B. De Chadenedes, who been wing Wall Street betting from a close-up position for more than & decade. Brokers are not putting up any cash this year on their political favorites, be- | this cause they feel no important economic issues are at stake. They consider this an “off” year election and believe the business depression will swing some Re- publican votes into the Democratic col- umn, but they are more interested in the coming ocongressional investigation into the Federal Reserve Board and the Stock Exchange than in Tuesday’s bal- loting. Bets ranging from $10 to $1,000, at even money, have been placed that Gov. Roosevelt wiL. carry this State by 225,000, and even money has been put up that every Tammany State sena- torial candidate will be elected. Gov. Roosevelt was a 2!3-to-1 favorite over his Republican opponent in 1928. (Copyright. 1930.) GRAIN MARKET CHICAGO, October 31 (Special).— Wheat opened practically lower re- flecting weakness in Liverpool and Buenos Aires. December old opensd 17% o 17%, new 777%, March old 81%, new 82, May old 853 to 83%, new 83% to 83l After the first half hour De- cember old 773, new 78, March old 82, new 821, May old 83%, new 83%. Corn was easior with wheat. ber old and new opened 7415, March old 7712 to 77%, May old 80%;, new 80% 1o 20%, Affer the first half hour December old and new 745, March old T7%, May old 801, new 80% to 80}5. Oats showed little change. December old opened 35% to 35%, new 35%, May old 387, new 38% to 39. After the first half hour December ol 35%, May old 38% to 387, Provisions were easier wi hogs. Stockholders of the Stuts Motor Car Co. have approved the talization plan pro g reduction stock by the issuance of on for e ten shares held. s A_IS LULL STILL HOLDS IN STEEL DEMAND Railroads Most Active Fac- tors, but Business Is for 1931 Delivery. Neither the price stabilization pro- gram presented to the American Iron and Steel Institute last week nor the tflm-tl to alleviate unemployment by stimulating the construction industries has yet had any influence upon steel and lron, says Steel. In bookings, pro- duction and prices, as a whole, further dounmclol; is apparent. for most steel products has registered Qn'o:s‘h decline Dln the past fortnight to out practically all the improvement in the first half of Octo- ber. In pig iron and coke, early Oc- tober commitments were for the quar- ter, and hence the withdrawal of buy- ers is not aignificant. On heavy finished steel, quotations continue fairly stable, but on many light ucts they are easy, and on scrap they still are decidedly soft. There is considerable opinion that the at- tempt to stiffen prices will be helpful, perhaps eliminating much weakness qn T. Production of steel ingots averages 49 per cent this week, compared with 52 the past two weeks and 55 as October opened. Youngstown mills are up a point to 54 per . Pittsburgh fs unchanged at 50-85, Chicago at 57-58 and Buffalo at 87. Eastern Pennsylva- nia, however, is off 5 points to 53 per cent, Birmingham down 5 to 45 and Cl:JvaLl.nd off 11 points w“?rt. ndoubtedly, some requirements for steel will be created by the Hoover em- ployment campaign, but it will take a little time for business to reach the rolling stage. Among the rank and file of the industry the consensus of is that whatever demand is thus developed will do little more than offset seasonable November and Decem- br recessions and that a genuine upturn cannot be e: before the automo- tive industry revives, probably Spring. ‘The railroads still continue the most active factors in the steel markets, and while mast of this business is for 1931 rolling, the efforts to create jobs may expedite releases. ‘eakness in nails and black sheets lowers Steel's market composite 8 cents this week, to $32.08, another new low. WESTERN MARYLAND RWY. BALTIMORE, October 31 (Special).— Gross revenue of the Western Mar land Rallway for the week ended OC tober 21 amounted to $336,973.42, ac- official ufiml;:t 1ssued today. week a year ago, & mcl.gl.'-'l'l to October under .48, or 17 per cent. r the three weeks of October gross is estimated at $1,021034.19, compared with $1,217,815.70 in the corresponding three weeks 1920, a decrease of oent. n&: the THE NEW TAILORTON Tailorton Suits for Fall present handsome new shades in blue, in tan and in gray. Tail- orton woolens are woven especially for Fashion Park and are tailored in models that will meet the approval of well dressed men. 3. ¥ A