Evening Star Newspaper, November 1, 1930, Page 15

{ L) 4 ; i ADVANCE ON CURB . INFINAL TRADING Public - Utilities First to Re- verse Downward Trend Earl- @ew_ ier in Session. BY JOHN A. CRONE. @pecial Dispateh to The Star. NEW YORK, November 1.—The Curb Market, after a weak opening and light trading in the first.hour, rallied in the last few minutes today. Public utilities, which had been under m!fill'e from the opening gong, were first to reverse their early down- ward trend. Electric Bond & Share advanced fractionally after losing a lpotm. Citles Service was up a shade rom its low of the session and Columbia ©ll & Gasoline gained near the close. Coppers continued to move in diverse directions, domestics for the most part declining and foreign shares advancing. United Verde held firm, however, the face of September production of 3,771,274 pounds against 4,028,442 in . 'The company reports cash on hand October 1 at $998,762. Invest- ments were carried at $5,096.897, but had a market value October 1 of $3,- 984,012, Attempts to bring about a huge consoli- dation of African copper companies ac- “'count for the firmness of foreign cop- issues. Merger proosals involve Rhodesian Selection Trusf Border Mining and B' Wana Corporation. The Ameri 3 here is interested in Rhodesian and B' Wana M’ Kuba, both of which are ac- tive here, while Rhodesian has large holdings in Roan Antelope Copper, which has been firm in the last sev- eral sessions. Guilf Oil of Pennsylvania early in the session came within a fraction of its record low level. Derby Oil & Refining eased when its various subsidiaries showed third-quarter profits of $218,- 151, against $361,177 in the preceding quarter. Radio shares, both communication and manufacturing companies, showed slight firming tendencies, but trading in them remained small. STOCK AVERAGES DROP UNDER LOWS OF YEAR Special Dispatch to The Star. NEW YORK, November 1.—All of | the price average tables today indicate that the stock market has broken well below the range of October 22 and is in & region where, speculatively, it will have to meet further severe tests. From the high average level early in October prices dropped an average of 40 points to the closing of the ‘mon! ‘The public utilities are still slightly above their average figure of 10_days ago. ‘The effect of this is to produce more tion by tired holders of stocks, who want cash rather than securities. It also encourages more short-selling. A majority of brokers’ letters today em- phasized the probability of lower prices prior to election, with comment reserved concerning the outlook beyond that date, as this depends somewhat on how the country will receive the election re- sults. fEEEE 0, G 90% A 55104 57104 104 104 308 '58 101% 10134 101% 75'E '35 108’2 108 ' 108 ; B n mn Qfisflfigggggggflgs 55 047 872 88y 10034 10013 100's Ve 10030 dov-d 08¢ 0730 i Ea B oo EarBowe Bune Suamwsall 000! rand Trunk 6'as 31 son B M&S 6 ’3: ependt Oil 65 &L 55 A B 4 . . o0 5 N B s Zwni BBt £ 534 - | 100 100 1 103% 103% 103% 101% 101% ve 98 ¥, Puel xw te S8 02 A 20260 89 LT 993, 993, 9% Ed 65 '50 xw 103% 1034 103%4 53 79 ww. 76 ' 76 ° 7 Steel 65 102% 102 102 mac Ed 5s E ‘56102 ~ 1013 101 p 8 Nor 1l 55 '31 97t 97 B P&L 5'a8 49 55 C '50. 99%s 9% 53 6 47 61% ‘Ant P 8 55 B '8 100 65 A '45... 98% : 8 7 962 96'a 96 8 96 96 96 96% 96% 96% 102'4 10214 102% i108% 1038 8 2 1075 103% . 10214 10214 10 10134 10114 10114 4 1003, 200Dt raonrs 10172 1 n ; 101% 101% 101% Van Swerirgen 65 '35 E Wes Tex UL 55 A '57 90% FOREIGN BONDS. -5 } FINANCIAL, exceptin which shows those stocks to be sold ~Prev. 1930.~ Stock and Sales— High. Low. Dividend Rate 204 13 Amiliated Prod 8514 77 Agfa Anscopf. 331 5 Ainsworth Mfg $2%. 16% 5% Allled Milis (60c). 111% 105% Alu Co of Am pf (6).. Aluminum Co Ltd. 5 Am Br B fd sha 84% Am C P&L (A) 8% AmCP&L B (10%). 15% Am Com P A (b10%) 10 AmCyanamid (B)... 8% Am Equities. 20 Am For Pow (war).. 854 Am Gas & El ($1). 5% Am Invest Inc (B) Am Invest (war).... Am Laund Mach (4). Am Lt & Trac (2%).. Am Maricabo. . Am Superpower. ... Am Superpwr 15t(6) Am U &G B vtc d0c.. Apex Elec Mfg (75¢) Appalachfan Ga: Ariz Com Mint Arkansas Nat Gas. .. Ark Nat Gas (A).... Art Metal Works Ass0 G&E A (a12.40) As80 G&E (A) dbrts Ass0G & E pf (5). Asso Rayon. . Atlantic Secur Corp. Auto Voting Mach. Aviation Cor of Am Axton-F Tob A 3.20.. Bellanca Afrcraft. Benson & Hedges Blue Ridge Cp (40¢). Blue Ridge cv pf a3 Brazil Tr&Lt(b8%). Brill Corp (A) (65c). Brill Corp B Brit-Am O11 C (80c).. Cable & Wire B rcts Canada Marcont. Carnegle Metals Celanese 1st pf Celluloid Corp. Cent Pub Sve A a1.75 Cent Pub Sv Del..... Cent St EI (k40c) Chain Store Devel. Chat Ph Al nv (50c) Cities Serv (g30c)... City Sav Bk Ltd 4.19, Clev El Illum (1.60) .. Clev Tractor (1.60).. Colon O1l. .. " - 3 B T T R T e e T Y T T -y Com Edison (8) Com & Sou w Consol Copper. . Consol Dairy Prod. . Cons Gas Balt (3.60). Consol Retail Stores Cons Ret St pf (8c).. 108 Contl Share cv pf (6)200s Cooper Bess pf A (3) Cord Corp.......... Corroon & Reynolds. Cosden Ofl..... Creole Petroleum. .. Cresson Consol (4c). Crocker Wheeler. Crown Cent Petrol. Cuban Cane pr opt w. Curtiss Wright war. Dayton Afr & Eng Deere & Co (1.20) De Forest Radio. Derby Oil Refining. . Detroit Afrcraft..... Diamond Match new. Dia Match cu pf (n). Doehler Die Casting. Dresser Mfg (B) (2) Driver Harris new.. Durant Motors. Duval Tex Sul wi EastC & F Asso. 3 1 £y 84 162% 8% 11 914 24% 2% 23 447% 108% 7 an E) Bond & Sb pf (6). 4 Elec Pow Asso (1)... Elec Pow Asso A (1) El Pow & Lt op war.. Elec Sharehold (31). Empire Corporation. Emplre Corp (war). Emp Corp cv pf (a3) Engineers Gold...... Fabrics Finishing. Fairchild Aviation. . Federat Cap nf (1%) Flatrets (1.25)..... Ford Mot Can A t1% Ford Mot France 28¢ Ford Mot Ltd 37 %c. Fox Theater Cl (A).. General Aviation. Gen Baking pf (3). Gen E Ltd ret (50c) . Gen G&E cv pf B (6) Gen Theat Eq w.1. Gen Th cv pf w.1.(3) Georgia Pow pf (6) o o v B 2 PO RO 0D E 19000 1 it 1 N0 80 b 1 00 531 1= 2000 IS 00 10 33 59 1t et b DD 00 e D RO RS 80 CS RO AN N b0 i Graymur Corp. Golden Center. .. Goldman Sach TC .. Gulf Ofl of Fa (1%). Hires (CE) (A) (2).. Hudson Bay M&S. . Humble O1] (2).... Hvdro Elec Sec (2).. Hygrade Food Prod. Imp Ofl of Can (50c) Ind Ter 111u Oil (A).. 22% Ind Ter Illu O1l (B). 43% Insull Ut (1b10% %) 7% Insurance Sec (1.40) % Intercontinent Pet n 18% 2% 25% & 8% 24% 4% 2% 25'% 2% 15% 22% Internat Super (f1). Add 00. Open. High, 0.. 1 18 13 THE EVENING STAR, WASHINGTON, D. C, NEW YORK CURB MARKE Note—All stocks are sold in one hundred-share lots g those designated by the letter s (80s) (250s) ~Frev. 1930.— igh. Low. in odd lots only. Intersta 113% 5 24% 49 3% 90 22% 165 11% 6 a8 278 Mavis B Memph: Met & M Mo Kan Mo Kan Nachma Nat Pub Nipissin; Novadel Pennroa Plymout Pure Ol Reybarn St Regis Selected Shenand: Stand Of Stand Of Stand Of] Starrett 4 Tri-Cont Ungerlel Un Oil A Utd Gas Utd Gas Utd Gas Utd Lt & Pow A Utd Lt & Pow pf (6 Utd Milk Prod pf.. U S Dair; U S Elec % U S Fin Holding.s.s. U S Foll U S & Int Secur..... U S & Int Sec 18t (5) 4 US & Overseas ctfs. Utd Verde Ext (2). Utah Apex (50c). Util Pow & Lt (al). Util P&L B ctfs (a1) Utllity & Ind. Utliity Equities..... Utll & Ind pf (1%). 4 Vacuum Venezuela Petrol. 3 Walgree! 4 Walker (H) (1) Wil-Low Cafeterias. Woodley Petroleum. RIGHTS. Peop GL&C...Jan 16% 22% 22% 3% 813 % 14% 4% 26 1% 10 Dividend rates in d payment. or stock. b cash 5% stock. ehis Pl 26 stock. Stock and Dividend Rate. Interst Ea cv pf (3).. Irving Air Chute (1). Italtan Superp (A) Klein (DE) Co (1).., Leonard O1l. .. Libby McNeil & L. Loew’s Inc war). Lone Star Gasn (1).. Long Isl Lt pf (7)... 1 Louisiana Lan & Ex. MacMarr Stores (1). Mapes C Mfg (13%). Mount Prod (1.60)... Noranda Mines (2) No Am Aviat A war. Nor Europ 01 Corp. Nor St Pow A (8) 4 Nor St Pow pf (T) Peop L& P Aa2.40.. Petrol Corp war, Pie Bak of Am A Pitts & L E (110) 4 Poterero Sugar. Prince & Whit (26¢). Prince & Whit pf (3) Prod Royalty (f1)... Prudential Invest Pub Ut Hold (50¢).. R R Sh Corp (25¢)... Rellance Int (A). Reliance Manag. Reynolds Invest..... Rich Of1 Cal pf (1%) Roosevelt Field Inc.. Rossta Int Corp..... Safeway S w(2d)(C) Salt Creek Prod (2) 4 Saxet Co.. Schulte Un 5¢-81 St., Seaboard Util (50¢) . Sec Corp Gen 140¢c).. Seg Lock & H (50c).. Select Ind pr (5%). Shenandoah Corp. Silica Gel ctfs....... 7% SoCal Ed pf B (1%4). % SoCal Ed pf C (1%). Southern Corp SW Penn P&L Stand O Ohio pf (7). 150 Stutz Motor Car Sunray Ofl (40c). Swift & Conew (2). % Syracuse Wash Ma B Technicolor Ine Teck Hughes (6 & Toledo Ed cu pf (7) Utd Corp (war). Utd Found b2-35 sh. < Ex dividend. tPartly extrs Received by Private Wire Direct to The Star Office Sales— Add 00. Open. High. Low. Close. te Equities 5 5 5 A%, 4% ottling. . Mead Johnson (+414) s N G (170c). in Inc (1.20). M1d St Pet vtc A. Mid St Pet vtc B. Mid West Ut (b8% Miss Riv Fuel bd rt PL(b10% PLvtc.. n Spring. ... Nat American Co. Nat Fam St b2% % Nat Investors. SV A (1.60). at Rubber Mach (1) Natl S T Sec A f50c. J Zinc (12%) ewmont Min ( ewport Co (2)... -Hud Pow (40¢) g (30c). . Agene t3%. Ohlo Copper. Oilstocks Ltd A 50c.. Orange Crush (1.50). Outboard Mot (A)... Pac Western Oil. ... Pantepec Oil. .. Parke Davis (11.65). » d Cp (20c).. h Ofl (2). S S00202010 @ OV it O IO 1 1 CO RIS 1S S0 et RO 10 D (6)..uunn Co.. » 3 BORRANNHAS B Paper (1).. Industries. oah Cp (al). » T ST Y UL PNL. JOTNTEICIP I Ind (23).. 1Ky, (11.80) 1 Ohio (2%). Corp pf (3). s Corp (war) der F Corp 850 (32). —a Co (new) (war). prAT). (O3 OLL TSP Y (A) (5) Pow ww... - oo . 1o o= (B) (1) o1l (4) n Co. 3% 3 4 2 3 5 1 4 1 1 2 3 3 ] 0 2 1 1 Expire. 15 1 10% 10% 10% 10% oliars based on last quarterly or seml-snnual $Plus 4% In stock. Payable in Dle in stock e Adjustment dividend. { Blus 6% in stock. b Plus 1% in stock. jus 10% in stock. mPius 3% in stock. n Plus 19 PCT. DURING YEAR Decline in Returns Not Nearly as Severe as in 1921—Price Moves Encouraging. Special Dispatch to The Star. NEW YORK, November 1.--Agrieul- tural income for the current year, it is estimated by the Standard Statistics Co. in a recent survey, will fall, roughly, $2,400,000,000, or 19 per cent, under that of 1929. This forecast is based largely on recent official crop reports, giving effect only to the percentage of the various crops actually marketed and to prices prevailing during the market- ing season, wherever obtainable. Although the indicated contraction in farm income is large, it is not nearly as severe as the decline of almost $3,- 500,000,000 experienced in the 1921 ! major depression year. Ncither does the i percentage recession approach the de- crease of from 30 per cent to 35 per cent in aggregate industrial profits for this year Despite evidence that general business has made ample allowance for the slump in agricultural returns, it is ap- | parent that the decline wil] an important obstacle to near term re- covery, particularly in the retail trade and agricultural machinery flelds. Re- cent firmer tendency of prices in most agricultural markets, nevertheless, lends encouragement to a belief that improv- ment, of the position of agriculture may play an important role in bringing about general business revival in 1931, Sy BALTIMORE STOCKS. Special Dispatch to The Star. BALTIMORE, November 1.— STOCKS 1 Corporation . Trust Co Ke: rarran ¥ Without warrants. ew. When tssued. o Chi;n Horn Is Stolen. An automobile chime horn, valued at $22, was stolen last night from the m chine of Mrs. Giadys Alvord, 2013 New \ Hampshire avenue, while the car was Parked in front of her home. L PRy e Unil Ry & income 4 Form re: | VIRGINIA ELECTRIC CO. Special Dispatch to The Star. | NEW YORK, November 1.—George (L. Harrison, governor of the Federal {Reser\'e Bank of New York, is plan-| ning to sail for Europe the middle of | next week to confer with the heads of the central banks in London, Paris and | | Berlin. As a result of Mr. Harrison’s | decision to go to Europe, it is under- | stood that Hans Luther, president of [the Reichsbank, has canceled his | projected trip to this country, which {was to have taken place early this | month, I | Mr. Harrison's discussions with the| heads of the Bank of England, Bank of | | Prance and the Reichsbank will deal| | with the problems arising out of the | current world-wide business depression. It is stated that his conferences abroad | will have nothing to do with war debts or reparations payments. Neither of | these topics, in the opinion of bankers here, is within the province of central | banking conferences, except when the | heads of central banks are delegated | by their governments to confer on such ! matters. Bankers here doubt that Mr. | | Harrison's conferences abroad can have much effect on the business conditions of the world, but they belleve they will “:\FARM INCOME OFF | HEAD OF NEW YORK RESERVE BANK PLANS PARLEYS ABROAD be beneficial to the world's finance, in so far as they will lead to mutual un- derstandings and views of the problems and conditions of different nations. The last discussion between the head of the Federal Reserve Bank here and European central bankers took place on the occasion of Mr. Harrison's visit to Europe last February and March. Fol- lowing those discussions! a vigorous easy money policy was instituted in all the leading markets of the world. When Mr. Harrison left for Europe in February the rediscount rate of the Federal Reserve Bank of New York was 4 per cent, while the Bank of England’s rate was 4}, per cent and the Bank of France's rate was 3 per cent. Follow- ing the meetings of the central bankers abroad, these rates were lowered until the Federal Reserve Bank's rate came down to its present level of 21, per cent, the Bank of England's rate to 3 per cent, its present level, and the Bank of France rate to 2)2 per cent, where it now stands. It is understood that during the course of these conferences the heads of the various central banks agreed that there was little they oould do to assist in the revival of business, beyond taking steps to make credit available at low interest costs to business. REPORTS GOOD YEAR Virginia Electric & Power Co. and | September 30, 1930, net income of $3,- 877,080 after taxes, interest, amortiza- | tion and depreciation, equivalent to $19.94 a share on 194,422 no-par shares of $6 preferred stock. This compares with net income in the preceding 12 months of $3,565,708, equal, after al- lowing for dividend requirements on 8 per cent preferred stock of subsidiary company, to $23.75 a share on combined 44,744 shares (par $100) of 6 per cent | preferred and 102,857 shares (par $100) of 7 per cent preferred stocks then out- standing. All the common steck is owned by Engincers Public Service Co. Statement for September and 12 months compares as follows: subsidiaries report for 12 months tndedi WILLARD EXPECTS B. & 0. WILL EARN DIVIDENDS | Spectal Dispaten to The Star. BALTIMORE, November 1.—Daniel | Willard, president of the Baltimore & | Ohio Railroad, who was in Boston Thursday at the invitation of the New England Railroad Committee to give his views on the consolidation problem, stated that he expects the Baltimore & Ohio to earn its dividend in 1930. He would make no statement, how- ever, with d to what action may be taken by the directors at their regu- lar dividend meeting in December. The stock was placed on a $7 annual brsis in September, 1929. Mr. Willard also refused to_divulge what he had s2id to the New England Committee, although it has been known for some time that he does not look with favor on the Interstate Commerce Com- mission’s consolidation plan for the Lehigh & Hudson River the Lehigh & New Jipgland to New Haven. . . . % IPROPOSED SILVER LOAN IS DOUBIFUL Legislation Would Be Neces- sary to Accommodate Chi- nese Government. By the Associated Press. Considerable difficulty may attend ef- forts of the Nationalist government of China to negotiate a loan of a billion ounces of siiver with the United States Government. Such a situation was outlined here in official circles, which declared there is a delicate question of international com- plications involved and that individual * |action by the United States in extend- % | ing such a loan might be misinterpreted by other nations, which, like us, are in hearty competition for the foreign trade of China. Legislation would, of course, be nec- essary before such a loan could be promulgated. The Senate Foreign Re- lations Committee has had a subcom- mittee investigate the situation with re- spect to China, and testimony adduced at many hearings gave weight to the thought such a procedure unwise from an international standpoint and would, in addition, offer no guarantee that the silver industry in this country would % | be alded Change in Standard. Testimony has brought out that the collapse olythe silver market had its inception when India was placed on a gold basis, which threw 35,000,000 |ounces of silver in hoard on the mar. ket, augmented by the debasing of French money, which dumped an addi- tional 14,000,000 ounces. Prior to this time the world's silver production re- mained fairly even at from 225,000,000 to 250,000,000 fine ounces a year. Con- sumption was at about the same level. Consequently, _testimony shows, the dumping of 49,000,000 ounces on the markets of the world created, not an overproduction, but an oversupply, for % | which no outlet, as yet. has appeared. itnesses appearing before sub- cc:x’mlw:e, wl?o are familiar with the economic aspects of India, state there are undoubtedly vast hoards of silver still buried there. If this be true any individual action on the part of the United States might be accompanied by further dumping of Indian hoards in still greater flvwhgm' with resultant de- moralizing effects. lnumu‘ch uuvt.lhila Btehmmwrs;m- mittee was created for the e: - pose of dealing with Chinese affairs, it is considered unlikely that branch of Congress will take any action until the subcommittee has been heard. Hearings Not Completed. Judge Paul Linebarger, legal adviser to the Chinese government, Now en route to Washington for the purpose of nego- tiating the loan, has not been in touch with this Senate Subcommittee, it was learned. The move, it s sald, is purely on teh initiative of the Chinese govern- ment. The subcommittee has not yet com- pleted its hearings. Next week’s calen- dar includes the appearance before it of three Chinese delegates to the recent International Roads Congress here, who will outline the lethargic conditions in that country, and how a loan properly administered wculd return to the United States in the form of heavy purchases of American goods. The “subcommittee looks kindly on an international loan to China, which would be advanced, jointly, by the prin- cipal nations of the world having heavy commercial relations with it, the fund to be administered by representatives of the lending nations. Action on such & proposition is expected to be taken at the next session of Congress. INQUIRY INTO.CONSUMER DEMAND IS UNDERTAKEN By the Associated Press. In response to a growing demand ' | trom marketing organizations for types of information relative to consumer de- mand and buying habits, the Commerce Department has created a new section to study these problems. This section is a part of the recently organized merchandizing research division, and it will undertake entirely new activities not covered by the bureau in the past. B. B. Alken, until recently a member of the sales engineering staff of Cheney Bros, silk manufacturers, heads the new section. ‘The work of the new section will be in the field of analyzing consumer needs and buying habits, measurement of the reaction of consumers to various types of sales promotion and the in- vestigation of the season d cyclical influences which may affect the trend of consumer purchases. EARNINGS REPORTED. NEW YORK, November 1 (A.— Yellow Truck & Coach Manufacturing Co. today reported for the September quarter net loss of $384,432, against net loss of $6,591 in the like quarter of 1929. For the first nine months this year consolidated net profit was $1,053,431, against $853,068 in the cor- responding period last year. Container Corp. of American for the first nine months had net income of $416,012, against $441,922 in the like period of 1929. Motor Wheel Corp,, including sub- sidiaries, for the third quarter had net profit of $51,417, equal to 6 cents a share, against $872,398, or $1.27 a share, in the third quarter last year. Universal Pictures Co., for the quarter ended August 2 had net loss of $146,340, against a net orofit of $73,790 in the corresponding period last year. BUSINESS FAILURES GAIN. By the Associated Press. * Business failures increased during the week ended October 25 as compared with the previous period, as their change was calculated by the Commerce Department. The following figures give the index for the week and comparable periods, based on representing 1923-5 averages as 100: Week ended October 25. Previous week Same week las NEW YORK, November 1.—The end of October found buying activity still below normal in electrical equipment markets throughout the country, Elec- trical World reports. Prospects for im- provement, however, appear less remote than they did 60 days ago. A strong flow of inquiries in the Eastern terri- tory promises a substantial increase in equipment bookings this month, cre- ating a distinctly better market tone. Increased confidence among cus- tomers that the current retail prices of rugs and other items of home fur- nishings are at ‘“rock bottom” devel- oped a large amount of buying of these items during the week, New York re- tail executives said. The heaviest buy- ing in the floor coverings centered on Oriental rugs, the offerings of which attracted many buyers who hitherto htm]ze not been owners of rugs of this style. Effective today, the inspection bu- reau of the National Raw Silk Ex- changs will be taken over by the United States Testing Co. The merger, in- volving both staff and equipment, it was stated, will result in the lar and most complete seriplane labora. tory in the country. Neckwear manufacturers are re- ported well satisfled. with current de- SATURDAY, NOVEMBER 1, 1930. STOCK AND BOND FINANCIAL., AVERAGES By the Asseciated Press. SATURDAY, NOVEMBER 1. ‘Two years ago. Three years ago, weekly aver. High, 1930 NEW YORK COTTON NEW YORK, November 1 (Special).— Cotton’s decline of half a cent from high levels of the week brought more trade buying into today’s market and prices s within a range of 10 points, ending about unchanged on the feature of trading was active by several Southern mills, and blocks of contracts taken from the market caused a rally of 10 points after December had sold within a few points of 11 cents. FPirst trading in October contracts from the 1931 crop established a price slightly over 12 cents. Spots were reduced 5 points to 11.15. Cotton range: December, December, old. . Open. HI 11.14 new. 11.10 -January, ‘old. REVENUES BOOSTED. ‘The West Virginia Water Service Co., & sul of Federal Water Service Corporation, reports gross revenues of $852,308 for the year ended Septem- ber 30, 1930, as compared with $804,053 for the preceding 12 months. Operating expenses, maintenance and taxes, other than Federal income tax, totaled $459,- 602, as against $427,362. Gross income amounted to $392,706, which compares with $376,692 for the year ended Sep- tember 30, 1929. GRAIN MARKET CHICAGO, November 1 (Special).— Trade was quiet in the wheat market today with prices covering a narrow Tange. ‘The market started easier under scattered liquidation by discouraged December longs. After that the trading was mainly local with shorts covering. There was a little pressure from locals who were selling wheat against pur- chases of corn while cash houses bought December and sold May. Closing prices were 15 lower to 1 higher, and for the week 1 to 2!'5 lower. December, old, 7675a76%5; new, 71%a7714; March, old, 81a81%¢; new, 81%; May, old, 827; new, 831,a83'4. D:cember liquidation has exerted a depressing influence in the grain trade this week and price losses were recorded as_a consequence. Today Liverpool closed 5%a3 lower following our decline of Friday. Argen- tine markets were closed on account of a holiday. Argentine crop reports were mixed, some telling of the spread of rust, while others sald that weather was favorable for the crop. Export demand was slow. BONDS ARE READY. The Chase National Bank of New York announces that it is prepared to deliver definitive bonds of the $30,000,- 000 B. F. Goodrich Co. 15-year 6 per cent convertible debenture issue due June 1, 1945, in exchange for outstand- ing temporary bonds. ¥ A-19’ FARM PRICE LEVEL LOWEST SINCE 1915 Department of Agriculture Reveals Extent of Decline From Year Ago. By the Assoclated Press. The lowest October level of farm prices since 1915 was reported yester« day by the Department of Agriculture in making known a 5-point decline from September 15 to October 15 to put prices 34 points below a year ago. The farm prices of virtually all com- modities except hay, veal calves and eggs declined. Hay prices are virtu- ally unchanged, veal calves advanced slightly and egg prices showed consid- erably less than the usual seasonal ad- vance. Fruits and vegetables moved down 22 points; grain, 8; cotton and cotton- seed, 7; dairy products, up 2: poultry and poultry products, up 4 points. The average farm price of hogs de- clined from $9.44 per hundredweight on September 15 to $8.79 on October 15. A year ago the price was $9.10. The lower prices were attributed principally to a seasonal increase in supplies. Farm prices of sheep declined sharp- ly and, at $3.93 per hundredweight, reached the lowest level recorded for any October 15 since 1911. The farm price of lambs continued to decline, but remained slightly above the level of October, 1921. This decline was said to be seasonal and attributable to sharp increases in marketing. A decline of 10 per cent was noted in corn prices, which were down 12 to 13 per cent in the corn belt States and from 5 to 7 per cent elsewhere. Con- tributing factors were decreased con- sumption or the substitution of cheaper feeds and a slight improvement in crop prospects. Indications of improvement in - tato crop prospects and a seasonal fi- crease in shipments accompanied a 10 per cent price decline. ices paid pro- ducers showed the grealest decline in Northern and Western States, where shipments of the late crop neared the season’s peak in areas of surplus pro- duction. In the Southern States farm prices changed little. The average price of $1.02 per bushel in mid-October was about 36 cents less than a year ago. U. S. TREASURY BALANCE. The United States Treas: balance announced today as of a:." of busi- ness October 30 was $208,337,009.44. Customs receipts for the month to date were $37,288,620.01. Total ordinary expenditures, $8,425,333.39. Cost of Good - Clothing is down / Today and almost every day in The Star you will find advertisements of Washington’s clothing merchants tell- ing you of the many things in their stores that wear a lower price tag than they have in many, many months. With prices so low, why not benefit in money-saving opportunities in addi- tion to the knowledge and satisfaction of being well dressed? BUY NOW! he Star