Evening Star Newspaper, November 15, 1930, Page 14

mmm U. S. Has Spent More Than Six Millions in Exterminat- ing Fruit Fly. BY JOHN F. SINCLAIR. Spectal Dispatch to The Star. NEW YORK, November 15.—Today is & great day in Florida! The fruit fly quarantine was taken off this ‘morning. It removes all the restrictions on the t movement of Florida fruits ‘:::fl":::hbm and gives the State a chance to move again. In April, 1929, me Medijterrancan fruit fly was first ‘discovered in Floridi Bince that time. the United States Fed. eral Government has expended $6,353,- 000 in an effort to exterminate the pes the State. Last ynr the fly was farms in since November 16, 1929. now on, Hm‘ va owners of “drapl md al No further issuance of property certifi- cates will be made, and restricted regu. lations of every kind will be removed Florida is to be congratulated, for this year's crop is a bumper. The Copper Situation. ‘The Canadian, North American, South n, and African copper proguc- , meeting in New York in an endeavor to curtail world copper iction, say that the world produc- n of copper is now at the rate of 300,000,000 pounds per month. Copper mines, ouwde of the United States, pro- duce 60 per cent and the United States mines about 40 per cent of the total. A cut, in world production, of 46,- 000,000 pounds per month is expected to balance production with world con- sumption. Now, while it is true that the United !fim produces about 40 cent of the world’s production, it is also true that it consumes about 60 nu cent. ‘World consumption Msy is not more 000,000 per month, Pmm L 5. 16 no _longer wi dis] the Glass subcommittee, mehvm.m:dmm mhnhnthn.mllydfl? 'fl; re-election of Senator Glass and his blast _against stock o, ments for certain lew ‘Wall mnt followers lulli "‘““"{.’;“E tracts. No sign yet of increased business ac- | tvity! Proper Loans. gk T by ers’ loans? During the past two mon'.hl & constant and continuous liquidation of speculative accounts has been going The weekly statements of the 12 in acceptance holdings of about the -me amount squared that. Until the distressed marzinal accounts buying today is largely on a cash basis. The market technically is getting strong- er and more healthy every day. Cheap Money. Is money cheap? It certainly is—for short-time obligations. This is shown in the bids for the recent $125,000,000 United States Treasury bills. These bills wil. carry an average rate on a bank discount basis of 1.72 per cent per annum. That's dirt cheap. But understand, the; are short-time obliga- tions, Dl—dly maturity. Are the popu- ular? Look at the record, which shows a total of $568,000,000 p‘led for. Short-time money can be obtained by the bushel, but long-time money—well, try to get it! (Copyright, 19%0. by the North American --n-per Alliance.) NINE BANKS HOLD 73 PCT. OF U. S. BANKING POWER A study of the latest complete com- pilations of resources of national banks and of all State-chartered banks and NEW YORK STOCK EXCHANGE , Recelved by Private Wire Direct to The Star Office. (Contnued Prom Page 13 —PP"I* High. Dividend Rat 4% ICK Pacific Gas & i (3). .12 07 I“fi Pacific Lighting (3). 3 W Pacifie & Tel (7). 5Os 1!‘ Packard Motor (60c) 214 40% Param’'nt Publix (4). 214 91 5 Pathe Exchange (A). 7 9% Patino Mines........ 3 Peerless Motor Car.. 26% Penick&Ford (11%). 30 Penney (JC)(3) .. 93% Penney (JC) pf A (8) 3% Penn Dixie Cement. . 26% Penn Dixie Cem pf.. 55% Penna RR ( 24 Peop Drug Strs (1).. 325 193 People's Gas Ch (3).. & 17% Pet Milk (1%). 10 Petrol Corp (1%) 9% Phila ReadC&1l.... % Philip Morris&Co(1) 16% Phillips Petrol (n2).. o PlerceOll........ . ;’u Pierce Petrolm(10¢). 2! 3% Pressed Steel Car 34 Pressed St Cof (7). 52% Proct & Gamb (2.40). 3 Prod & Refner: 66 PubSVNJ (3 91% PubSvNJpf 106% PubSv NJ pf 107% PubSvE &G pf 54 Pullman Corp (4 93t Pure Oll 46% Purity Baker! 12% Radio Corp, . 40 Radio Corp (B) (5. 17% Radio-Keith-Orph 17% Raybestos Man 2. 874 Reading Rwy (4). 30% Real 8ilk (5). . 14% Rem Rand (L“).-u 84 Reo Motor Car (80¢). 15% Republic Steel...... 40 Republic Steel pf (6) 10 - Revere Copper & 70 Reynolds Tob 41% Reynols 'ob 5% Richfield Qil (new). 7 RioGrande Oil...... 20% Ritter Dent Mf (13)., 20 Rossia Insur (2.2¢ 38% Royal Dutch a2.21 44% Safeway Stores (5).. 25% St Joseph Lead (13). 63% St L-San Fran (8)... 20% .Iluuek(")"lfi) 7% Shell Union Ofl, 4% Shubert Theaters. o FS- P TS P LT 1% Stand Invest Co: 49% Stand Oil,Cali(h2%). 17% Stand Oil of Kan (2) 49 StandOllof NJ (12) 174 25 StandOIINY (1.60). 25 20 Starrett (L 8)(12%) 2 - Sales— ite. All..l:l.l. 61 128 9 Low. 47 Sterl Sterl Sweets of Amer (1) . Symington. . Symington (A) s 1 ‘Timken Det Ax (80¢) Timken Roller (3)... wpurn Pacific pf... Western Union (8).. Westingh'se A B (2). ‘White Motors (2).... Wh Rock M 8 (14%). White Sew Mach pf.. Willys-Overland Wilson & Co (A)..... Woolworth (2.40).... Worthington Pump. . Wrigley (Wm) (4). Dividend rates as given in the above table the Iatest quarterly or halt " Pilis 8% in stoc tock. Dividend Sterling See (A) oot () 1 ov #H 1% 51% 21% 50 1% 6% 10% 24 1% le 51! 6in 14% 16 106 nl 9 9% Tri-Cont Corp pf (8). Truax Traer (1.60).. INQUIET MARKET Seasoned Investment Issues Maintain a Strong Tone From Start. BY F. H. RICHARDSON, Special Dispateh to The Star. NEW YORK, November 15.—Bonds advanced narrowly all around today in quiet trading. Though there was some profit taking and tax selling in stocks, prices were so well held in that market that no fresh cashing of bonds was made necessary. While there may have Been a small volume of tax selling in bonds that have had wide losses in recent weeks, it was readily absorbed. Money rates were une Penmylv-nh 4%s, Union Pacific 4s, Chesapeake Corporation 5s, Ameri- can Telephone 5%s, Standard Oil of Ne\v Jersey 5s and Philadelphia Co. 5s strong from the start. Uniud smu Government, tions shade, with all of the % ot ']ml term active descriptions quoted 1-32 to 2-32 of their best prices for the ear. & Convertibles reflected the strength of stocks at Priday’s close with gains of rnc'.luu to over a point. An encouraging sign wu the unanim- ity with which second and third grade 14 | issues followed the upturn. Junior rail Adjustme 5s, Missouri-Pacific 5%s, Sea- board Alrline 55 and Wabash 4)2s, all gained. So did the following ihdus- trials: Pisk 8s, Chile Copper 5s, Brvthers 6s, Armour of Delaware 5)3s, UNITED UTATIL (Sales are in 8 8 10226 10224 102 24 Il' 10321 10820 10821 1029 1029 Lib1st 4% Lib 4th 4 s, US3%s's 11029 FOR‘IGN. Sales High. Low. Closs. Argentine 5%s 8. 86% 864 86% Argentine 68 A 98% 93% 93% 3% 72 ’l'l % 77 loN 104% 95 9% 102% 102% 1 108% 108% 108% 12% 112% ll!\‘ 108 107% 108 10814 108% 102% Belgium 7a 5 Belgium s 'll 70% hanged. da Seasoned_investment 1ssues such ulc-nn Ia 58 '53. .. first | Chile 0 Denmark 4%s 62, Deamark 6s '42. Duteh East 16s'47 Dutch East 16s°63. 844 844 87% 106% 1204 126% Paramount Publix 5128, | G, An'nour o( Tilinols 4%s, Sinclair 7s and Y Hudson & Manhattan Income 5s. Foreign dollar bonds were quieter, with a few wide movements in ins, where the situation is re- as_somewhat better. 7% | ported of Santa Fe 7s nlnedlpol.nu‘ Smelt & Ref (1 Smelt Ref pf 3% sco Sales Cp pf. adium Corp (3). 15 Va Iron Coal & c Df. 2008 Vulean Det (4)......200; Wabash. Wabash pf (A) (5) 23% Waldorf Systm (1%) Walworth Co (2) Ward Baking (B), Warner Bros Plet Warner Quinlan. Warren Bros (3) Warren Fdy & P (2). Webster Eisenlohr. . Wess Oil & Snow (2). West Penn El pt (1), West Penn P pf (7).. Western Dairy A (4). Western hlr’ B) o nann-w:o-annan s —— ss e » aBTenrrssneSSaanion 83, 67% 30 30% 10% 10% 24% 24% % % 3% are the aunual cash eartly exire "g Plus l‘o‘ » Pal I'Ml d Payable 'ht earned. it L sk P35, S pllfll $1.00 in preferred “‘. 100, shares n s HOLIDAY TURKEYS WILL BE PLENTIFUL Local Wholesalers Confident of Large Supply at Reason- able Prices. It is held certain by local .wholesale poultry dealers that there will be no scareity of turkeys for the Thanksgiving trade, continued hea: T and contacts with shi, a market during since the- '-r!ueeom ers, loonummthzt leueoldl'umuexpecud rabbit &fl#fl -d\‘.hml‘hitll helvadt.hnmw!yo!mnmvm not be extra hear any eorremm: close of the World War, chant stated, is e of a glutting of the market rather than of a scareity. WEEKLY BANK CLEARINGS. Bank c!udnu continue to denote a decline in the volume o trust companies of the United States | 1! yeveals that 73 per cent of the banking the country is centered m tes which have an Specie] Dispatch to The Star. NEW YORK, November 15—The t of copper producers, repre- E 90 per cent of world output, to abou tons a il production mm'.h.ornbwt 15 reem.hubeen immediately reflect: the metal and in copper shares. Late yesterday the price of copper was advanced to 12 cents, or a gain of 2 cfi{a a pound in the last three asking 12 cents for copper to the end of March and some demanded price for November and December. ‘Washington Approval Awaited. Meanwhile the trade awaits definite approval of the cum‘{.llmznt pact, vh!ch at 11 cents for nearby delivery. n'om came ‘® | Boston, center of copper financin the word tha t copper advancing to Lhe !z-eent. level, International banking expect some sort of world lmk-ng even- tually in the copper industry. ting the wmhn- of foreign mines by American companies, these circles be- lieve lcuonly- question of time before shares of various mines will in the price of leading producers were reported as|the ents | leave about 9,000 tons from | Inc., sold $40, COPPER CURTAILMENT PLANS RESULT IN METAL PRICE GAIN however, is frowned uj in copper circles here. ¥ Explains Agreement. Cornelius F. Kelly, president of the Anaconda Copper rl‘lnfl.l'l. — producer of copper, man of the Copper Institute, in the offi- clal statement pointed out that “the recommendation of the institute is not violative of the laws, for the reason that present production is far in excess of normal and reasonable market re- t | quirements, with the resultant creation of excessive sf , and there is no price- fixing agreement.” The trade here considers the the French metal syndicate as dlcnuve of the fact that foreign inven- tories of consumers are below normal re- o e e copper cut by Can- adian interests has not been mentioned in trade quarters here, but if it equaled that of South African mines it would tons curtailment for North and South American producers. i . In connection with a polflhu pool, it was recalled that in a phnmw 1921 the Copper Jo Association, 8 per ‘cent notes sectred by 8 pledee of $52,000,000 of at the quoted market The pickuj copper buying has been mirrored In'uu orders eral Oable Corporal Brass ‘Corporation, both of which have received substantial amounts of new business from uuu&l: and indunrhl corporations. Forel have been unusually huvy thh week. (Copyright. 1930.) “w LIVE STOCK PRICES HINGE ON SUPPLIES m fresh the | Shippers May Force Quotations| the Lower by Increasing Their Offerings. BY FRANK I WELLER, Associated Press Farm Editor. there is a very broad and t of supplies next hnvy live stock reisonably might be further, If it does, it will luvaon!yflwfln'. !.'n mh in Docemaer (oI crawl back n as muvul:rl‘y. law u nwy are, before the balky Cl y trade takes a further whu:k at Drlcel NEW YORK BANK STOCKS NEW YORK, November 15 (P).— Over-the-counter market: NATIONAL BANKS. bian 6s, however, were 3 Peruvian credits remuned 'e-x Ger- mans were firm. It is understood that Chile will place £2,000,000 bills in Lon- don next week. Chilean dollar bonds -en firm ngimeuhbn‘n issues were flat in response to Cul government's rnptnm lfhn the troubles there are under conf Washin-gton —S.tock E;change % SALES. “A"-8$1,000 at Capital “Traction Co.—6 at 50, 4 at 50. Potomac Electric 51,% pfd.—5 at 1081 Ool:znbt- ‘Title Insurance Co.—50 Potit: Amecioan’ O, com.—10 at 30. at h|ummn Monotype—10 at 104. AFTER CALL. c cons. 5s—$1,000 Potomac Electri at 103, $1,000 at 103. Amer. Tel. & Tel. (9), Co. §illie m. (7). Vash: Rwy. & Ei pid ) NATIONAL BANK. P R TR Wethineton ' (id) TRUST COMPANY. Amer. Security & Trust Co. (15) Continen! Merchan hvlnn & Trust (13 Erince Georges Bank & Trust.. §==§E_SE SAVINGS BANK. jank of )o.l.h ld? II %;;:f::.m.m ! o vin: & : ‘ashington Mechanics' (20). FIRE INSURANCE. American (12) e 'COT (10] 8288 £%%anle s (8 National Union’ (i5). 'rrru INSURANCE. Colum! 1 ln-te a tle & Tov. uuczmn!ous 8.228.2.225 50 Eee Corp. ( throp ptd. (7) e M Woodward A *Ex di b Books closed. 35¢ extra. COPPER PRICE ADVANCE. “’r’ YORK, l(nrv:mber l‘fid (P)— cents to ropean advance brought the !nreun in line with the domestic price of cents & pound, delivered, estal yesterday. The domestic advance represented an increase of 215 cents three days from the 93-cent level which had held for several weeks. South | 5, pa; 8% 103% Jugosl Blnk 8 '67. Karstadt 6s°43. 66% 4% 106% 106 73% T8% 106% 101% 02% 102% 90 964 105 106% 52% 5214 Orfent dev 5% Orfent dev Parts-Ly M 58, Plrll-by I 858, Peru Peru ll Pirelli 7s. .. Polanad 7 onos Befrorerns silvelorvsa munnaSe oo 98! 1% Prague 7 %- 52, Qui nllnd u'fl - o Tokio 68 '62. Uta King 6% 51 1 Yokohama 6s 1., 26 MISCELLANEOUS. ADItIbI P& P 68 5 Allegheny Arm Del 6%s "43. . 166 As30 Ofl 6336 Bell Tel Pa 58 B 43 Bell Tel Pa 68 C'60 2 Bk Ed &n A 58 ‘4! Bush T Bldg 68 '60. Cert-tddeb %848 7 Chile Cop ab 7. 4 Colon 01l 63 '38. 2 Col GRE bs May ‘52 16 Com Invest %849 C C Md 18t rf b, 1064 110% De Edison 55 4 Det Ed rf 65 B ey ~Sem S haom womm Gen Motors 6s'37. ., Gen St Cas b3%s '49 % 7. Hum O&R 6%s'62. lu!'rlnvqu 4% 102% 106 6 101% Int T&T cv llfilll’ IntT&T6s'56 Kan C P&L bs Kan Gas&E 4%s ‘8( Kend 5148 '48 ww. ., Lackaw St 53 ‘50 Lac G St L bs Laclede 5343 C Laclede 6 % o Nor St Pow 68 A 41 Pac T&TIst 6537, Pan-Am Pet 6334, Paramount 68 "47.. Pathe Exch 7 Phila Co bs 6’ 1084 % 103% 102% “ 5214 100% B 92 Pillsb F M 68 43... Por R T am 6s '42.. 6% 70 Pure O11 5% '37 Rem Arms ‘lA‘lL 1 Rem R'd 5%s A Richfi'd O cal 6: Sinel O 6%s B'38., Sincl O Tscv A '37. Sinel Cr O 5%s '38. inclair P L 68 °43. P St O N ¥ 4%s 51, Tenn K P68 A 47, Tex Corp v bs '44 o B BaBelrarnaen 5h5utaiunSoabanms raranSS rasroncansarsnsn U S Rublst Walworth Warn Br Pi Warn Quin 1000 - 20 FINANCIAL. BONDS ARE HIBHER | (e ~onc BONDS o sscuus] [POWER F te Wire Direct to The Star Office RAILROAD. Atchison gen 4896 16 97% Atcvoncy sl 35 130 A1CL st 96 Brooklyn El Bklyn Man Bklyn Un Bklyn Un EV IN NET REVENUES Nine: lonth Total - Earnings Exceed Similar Period in 1929. Special Dispateh to The Star, NEW YORK, November lb—m nue of electric light and power com- panies in the country as & whole for the 99% | first nine months this year was well in Can Nat Gs Oct " Can Pacific db v 4% '60. . ChRI&P4Ha A Ch Un Sta 4% C& W Ind ev Clev&Pitts 4% 817 C U Ter 4%s 2020.. Cuba Nor 6%ms 42.. Gr Trunk 78°40. ... Gr Nor 4% Gr Nor 4% Gr Nor b8 Gr Ner gen HavERL&P Hock Val 4148 Hud & M ad)j 6’67, 111 Cent 48 52 111 Cent 4% s * 111 Cent 63 55 11 Cent 6% 5 ‘36 111 CCStL&N 68 A Int Rap T+ bs "6/ Int Rap Tr sta '66. 1% 9% 984 104% z nm 1% 55 100% 8% 89% 97 103% 10 100% 6 8% 12 89% 11 97T% 12 103% Int & Gr Nor Int &G Nad 6 Kan City Ter 45'60 Lake Shore 45 "31 uh v" 4% 2003, Long 1s1 db 68 '37. Manh Ry 1st 48 "9 Market St 7 s A, Mo Pacific §s F 17 Mo Pacific 53 G 78, Mo Pacific 5» H ‘30 Mo Pac 6348 v *4! Mont Tr 1st 58 °'41.. NOT&MGbs A'SS. NY 43°98 N Y Cent @b 4s *34. NYC re im 65 2013. N Y Cent db 6s " NY CLS cI3%s '3 NY C&StL 4%s ‘78 NYC&StL5%nA NYC&sStLés'3l, . NY NH&H cv 4b 6s NY NH & Helt 6. NY O&W 1st 4s l NY O&W &n 4a '56. NY Rysine 6s'65. . NY Rys6s A " NY St Ry 4%s'62 Nor Pacific 3s Nor Pac r 163 2047. 5 108 2 101% 15 101% 1 B 9% 2 82 2 92% 2 100% 2 100% 85 100% 85 83% 98% 93 23 L. *20m, crres a .:’g T 23359 Seab All F'1 Sou Rwy g Sou Rwy bs Sou Rwy 6%s Tex & Pacts B Tex & Pac 55 C Third Av ref 4 Third Av adj & Un Pac 1t 48 ‘47 116% 995, 100 4T% 101 Va Ry & Pow 6834 101% Wahash 43%8 ‘18 86% 86% 101% 101% By the Associated Press. NEW YORK, November 15.—The Na- tional Hotel Exposition held week haerd reports that 16,000 hotel rooms will be added to those already available in Manhattan and Brooklyn during the next 14 months. Mark Cad- well, chairman of the exposition, said it was one of the most successful ever held. A canvass of exhibitors showed $1,500,~ 000 worth of goods sold. ‘Warm weather curbed retail sales in New ‘York during the week, reports from rge stores indicated. Sales of outer lfin rel fell off sharply, and there was a mhh!d demand for cold weather ac- Sales of home fu \nre ln substantial volllme. due to spe- mm.“" merchandising efforta. “weavers, while operat- tories nd 3 threats thor mh— m districts to complicate et fye - Margin lnqummenu Reduced. here this | Boston Whart excess of income reported in the same Erhd last year, Nwm D!lblle emnflu on the analysis of of month).y remrnl , the 'nhl 1er°Tuu 'fll g nm operating expenses bemheladen to reasonable ’-" tions, compared with revenue, mmwmwuu-n- Reduced fuel consump- INVESTMENT TRUSTS NEW YORK, November 15 #).— Over-the-counter market: DIVIDENDS DECLARED NEW YORK, November 15 (#).— 'Er’.' of w:«:::g, YREFY 75 OO 1 £ = BBIULTINT o Pooooo ooocopooon: o 2P i F ¥ F o o #