Evening Star Newspaper, November 17, 1930, Page 14

Economist Says. Uhemploy- ment Situation Requires Five-Day Week. BY JOHN F. SINCLAIR. “What further Do you question leviate :flll Mly“u:v::o unemployment this question: “Wculd ames J. Davis, Secretary ot hbor I the. cabinets of three Presi: elected United States dents, has % vania, the Presi- m"““’%flw -be swam| with recommenda Tegarding e i in favor of Miss Grace Labor of a8 ) 2 i | § i (| | i o Wl §t§ EESd L PR R : it i % eEfi% i ; Ehbel $HEH i ] | 4 & " E s 5 £ g T i il J. the American Risun ‘manginese i noccssary s make ferro-mangancse and that Amers cannot do it. But the denles Association tihls contention of Mr. Doherty. 8o there you are. Perhaps the whole Russian-American ‘policy wllol' be centered around the problem of manganese. The problem &u& future policy is an important one American business. Keynes' Views. John Maynard Keynes, British econ- omist, went afoul of orthodox British five years ago by Great Britain should make the sterl! effort to ($4.875), but rather should it at the then NEW YOF #5055 ¥ M Mohawk Carpet. ... Monsante Ch (g1%). =z-33ge5afguseaf) a8 Murray (B) (3% stk) 24 ' Nash Motors (4).. . 61 Nat Acme (1%). o 68% Nat Biscuit (13.30).. 28% Nat Cash Reg A (14) 384 Natl Dairy (2.80). 17% Nat Enam & Stamp.. 115 Nat Lead (18)...... 138% Nat Lead of (A} (7). 30 Nat Pow & Lt (1). % Nat Radiator. . 2% Nat Radiator pf. % Nat Ry Mex 2d pf. 41 Nat Steel (2). . sjEipegseygn g - Bortmd e amonnn~ 5% North Am Aviation. . 59% Nor Am (b10%stk). . Be S SZwla % Norwalk Tire & Rub. 16% Ohlo O11 Co (2)..... N T4% 60% 19% 1 T4% 07% 118 28% 12% % S P efuaPonnn nannm - Penney (J C) (3) Penney (JC) pf A (6) Penn Dixie Cement. . Penna nu;n..,”.. Peop Drug Strs.(1).. People’s Gas Ch (8). Petrol Corp (1% ) Phelps Dodge (3) Phila Read C& 1. Philip Morris&Co(1) Phillips-Jones Corp. . Phillips Petrol (n2) . 264 bl 19% 2% 14 56% 101% 60% 326 2T% Pilisbury Flour (2).. Pirelll italy (s3.14). Pittsburgh Coal pf. - Prairie O] & Gas (2) Prairie Pipe L (15).. E5E: = 144 1 P PR Bt YR OO RO B E % DR Rl S IpRit ey T L 1P Radio Corp (B) (5).. Radio-Keith-Orph A. 304 Raybestos Man 2 60. o5 5 3 Reis (R) & Co 1st pf.100s Rem Rand (1.60. 12 Rem-Rafid 2d pf (3). 20s 8% Reo Motor Car (80¢). & pring..... Reynolds Tob A (3). Reynolds Tob B (3). Richfield Ofl. ... Safeway Stores (8). Safeway Strs pf (7). 8t Joseph Lead (13). St L-San Fran (8)... St L-San Fran pf (§) 8t L Southwestern Seab'd Air Line pt. 45, Sears Rosbuck $2% . 3% Second Natl Inv... 48 Sec Nat Inv pf (5). 1% Seneca Copper...... - IS cnaStuBannd ° _ Steck and Dividend Rate. Servel InG......... 20% Shattuck(FG)(t1! % She ] ivay Southe: il » ¥ Sou Ry Sparks Splegel Stand 1 Stewar: Sun O11 Sweets Tide W Tobace Transa. Un Tan! Util Po Van Ra: Va-Car Vulean Willys- Wilson Wilson Wilson Yellow AM Dividend fates a3 PAYR0RIE of traging 4% in stock. §Pay: ab) l B 2% Skelly Ol (2). Snider Packing. % Sou P Rio Sug (1.40) Sou P Ric Sug pf (3) Sou Dairies (B) Southern Pact! Southern Rwy Spear & Co pf (7). Spencer Kellog(80c) Spieer MfK....... Stone & Webster (4). Studebaker Corp (3). 14 Studebaker Co pt (7) 100s Submarine Boat..... Superheater (13%).. 2 Superior Steel. . Symington (A). ‘Tenn Cop & Ch (1) Texas Corp (3)...... Tex Gulf Sulph (4).. Texas PC&O1l, ..., Texas Pac Land Tr.. Thermoid Co. . b Tide Water As (80c) Timken Det Ax (80¢) Timken Roller ¢ Thompson Pr (2. Tob Prod (A) (80¢). . Tri-Cont Corp. . Tri-Cont Corp pf (6). Und-Ell-Fischer (8). Union Carbide (2.60) Union Oil, Calif (32), Union Pacific (10)... 25% Utd Alreraft, . . Utd Alreraft ptf (3).. Utd Biscuit (1.60)... Utd Carbon (2) . Utd Cigar Stor¢ 5 Utd Corp (50¢) 19% Utd Corp pf (3). Utd Dyewood . Utd Electric Coal. 5% Utd Fruit (4)... Utd Gas & Im (1.20). Utd Piece D pt (6%). U S Freight (3). U 8 Hoffman. . . U 8 Ind Alcohol (17) fl' Leather (A)..... Univ Leaf Tob (3)... Univ Pic 1st pf (8) Univ Pipe & Rad Vanadium Corp (3). Va Iron Coat & C pf. Walworth Co (2) Warner Bros Pic Warner Quinlan. 7 Warren Bros (3) o Warren Fdy & P | Webster Eisenlohr | Western Md 2d pi Western Union Westingh'se A B (3. Westing E & M () Westvaco Chior (2). White Motors (2).... Wh Rock M 8 (14%). White Sew Mach pf.. Woolworth (2.40). .. Worthington Pump. . Wrigley (Wm) (4)+, Yale & Towne (2). Youngs Spring 2 Young Sh & Tube(5) 2 Zenith Radle........ & Sales of Stocks on New York Exchange n_the stock. T Plus 14% in stock. RK STOCK EXCHANGE by Privats Wire Direet to The Star Office. f Prev. Close. Close ; : 3 ] 2.8aa : o s % s 15 13% 15% Am pr w! rn Cal Bd (3) W 44 102% M&Oet ( Withing (1). Helionaea ks s gl 12 11 -May-Stern.. 3 8 - Stand Brands (1%).. 149 %164 Stand Brands of (7). 1 4 Stand Comm Tob, Stand G & El pf (1).. nvest Corp.. 2% 21% 54% 26% 4% 20%4 52 20% 21 1204 % “ 105% 105 31 32 Stand Oi1,Cali(h23%). Stand O1l of Kan (2) Stand Otl of N J (12) Stand Ol N ¥ (1.60). Sterling See (A).. t-Warner (3). 12 DL (6)...0us 308 % T of Amer (1). 10% 10% Y 10% a7 51% &% 13% 6 11 3815 524 6% 14% 6 8% 9 % 70 P 46% 481 12% 14 2% 2 ‘ater As pf (6) o Products. 4 merica (1)... 16% 9% 945 65% k Car ( 2 27% 54 37 29% 4% 6% 3 8 . » oz Niuonnne - Srne 2 12 104 108 5 308 4 w & Lt A alte 15t pf, Chem. Det (4).. & M pt (5) Ov';thni | &Co... & Co (A) g & Co pt Truck. 234 7% ELY + 340.800 12:00 Noon. + 1469000 2:10 P.M. wiven in the Iatest qua fess than 1.041,900 584 100 bove table are the annual cash rly or Balt vearly declatatians. | shares = tPartly extra. - Bius Pl Pfl? lh“l: Ak s 3% in stock. m Blus 00 in preferred stock. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS NEW YORK, November 17.—The following s & summary of important corporation news red by the Standard Statistics Co., ., New York, for the Associated Press: ‘Weekly Review. Stock prices last week experienced their most sustained advance in more than two months. Stimulated an increase in the price of of the latter group rose soon were fol other of the list. The Standard Statistics’ averages were uniformly with Tose cent, while the rail average gained 24" polnta, or 4.4 per cent. I view of the recent decline in quota- tions and fact that the market has been oversold in many instances a rally of this nature is looked upon as an en- tirely logical development. e of m&m & continuation of this m“:Il itrend of activity is antici- Dpated. ipally | established Octnbehr';.l 1920, per cent smaller, but against 1928 period 2.1 per cent larger. Raliroad freight car Ik for the week ended November 1 recorded the smallest relative decline under 1929 since the first week in June. Total of 934,640 cars showed a less than sea- sonal contraction from. the preceding period ln:n:n ’u,u per cent below uring the first showed & small gain in daily rate. Av- per business day totaled $13,- an increase 3.6 per cent over ntei. 1:‘0'""' '-fin'mn year avel T cent er. ..'?‘hh m nml:leme such action has t and it el g0 far foward nditions tail world prod month and was tons a by 20,000 made in the face of the 3 :om Mass.; cost about $1,000,- mmdnmwu#rumorwm figures. ite amount to $2,235,000,000, and with the of $6,804,000,000 ' The Companies. Canadian Car and Foundry earned | $3.89 common share in year to Septem- | ber vs. $4.82 in previous year. Coca Cola Bottling of St. Louis dey | clared dividend of 10 per cent on com- | mon. stock in addition to 1931 cash di- vidend payable in four installments; | 20 per cent was declared. Columbian Carbon third - quarter | earnings, 89 cents common share vs. | u.;{ year ago; 9 months, $4.09 vs. | Coiumbia Pictures earned 83 cents common share in third quarter. Columbla Gas and Electric third- ¥S. 21 cents year ago; nine months, | $1.23 vs. $1.67. Coty, Inc., third-quarter earnings, cents common share vs. $1.14 year ago; nine months, 86 cents vs. $2.46. General Motors, Oakland Motor and Pisher Body plants at Pontiac, Mich., recalling about 2,900 employes for pro- duction of new lines. Marmon Motor had deficit $670,927 in quarter to August 31 vs. net income , $61.281 year ago; for nine months had | deficit $816,647 vs. net income $1,- 150,282 Moon Motor Car temporary receiver appointed by Circuit Court of St. Louls ew England Power quires all r companies controlied by C. D. Oo., ‘which included Massachusetts Utilitles Associates and Sharon Steel Hoop increases opera- uou"m per cent, to 60 per cent ca- Sherwin-Willlams of Canada, earned $1.95 common share in year to August 21, against $265 in previous year. United States R.A‘.“‘ufil lm&mvemmt subsidiary, ., award- ed contract for con- struction of tion ac- Machine had deficit of T, against nhl:et 144 year : nine- month deficit. of $274.664, against - come of $481,318. . $80,915 for income Mrs. E. R. Chandler is 1o be the first 'm:n mayor of Newport, Isle | Wash. Loan & Trusi | Commerce lumbis (8h) . »g_é‘u"hu'-u (o &of | Col. on November 20, 1929, stock dividend ‘h qQuarter earnings 6 cents common share | Wash on_application of minority stockholders. e BONDS IRREGULAR ON SMALL TRADING High-Grade Issues Resume Advance—Rail List Is Lower. BY F. H. RICHARDSON, Special Dispateh to The Star. NEW YORK, November 17.—Bonds had an irregular trend today. Only the very choicest of the high-grade issues showed any general tendency to pursue the upturn. The rest of the list, after weeks of anxious sensitiveness to the movements of stocks, was again sup- only where earnings or advances in the complementary common stocks could be seized upon as reasons for commitments. The foreign department was inclined to drag, especially the German group, despite optimistic statements and more cheerful developments on foreign bourses. Money rates were uncl with a surplus of funds in the : Volume was at a slower pace than on Saturday. PFirmness characterized the opening, but this was an evidence of a narrow volume of trading rather than a sign of inherent strength. The weak opening of stocks was reflected immediately in lower prices for secondary and third grade domestic descriptions. Losses of fractions to s point were the rule in Chicago Great Western 4s, Erie 5, Missouri-Pacific 5!3s, Western Mary: land 4s, Boston & Maine 5s and other Junior carrier credits. International Great Northern first 6s, which had been oversold in a narrow market last week, were somewhat im- proved today. Seaboard Airline 6s, still reflecting hopes of a favorable readjust- ment for these bonds in the new reor- ganization of the road, gained frac- tionally. Industrials acted in much the same manner. American Natural Gas 6%: Pathe 7s, International Mercantile Ma. rine 6:, Anglo-Chilean 7s, Goodyear Goodrich 6%s, Colon Oil 6s and Sin- clair Ofl 7s all sagged. Some of the amusement shares, such as Paramount 5 and Warner Brothers Pic- lected advances in their t::' ities o eaFnings oot lated equities or on s S avare Armour of Delaware 5s, United States Rubber 5s, Richfield Oil 6s, Shell Union Ofl §s, Brooklyn-Manhattan Transit and Hudson & Manhattan Income 5s. In the high-grade section interest was centered in United States Government obligations, which sold around their highs for 1930. 3% Washington Stock Exchange SALES. Washington Gas 6s “A”"—$200 at 102" $400 1 Barber & Ross com.—25 at 133;. Mergenthaler Linotype—10 at 897, 5 at 80%. AFTER CALL. ‘Washington Rwy. & Elec. 45—$5,000 at 87%, 81,000 at 87%,. Mergenthaler Linotype—8 at 89%. Bid and Asked Prices. BONDS. Amer. Tel. & Telga. 4l5s '33 Awier. Tel & Teles. 4iss " Am. Tel. & Tel. et g?'u Y nig. Askea lflg- sked. C. & P. Tel of Capital Traction R. R. City & Suburban 8s. ‘ashington Gas Wash. Gas s, series Wash. Gas 6. series & Elec. Wash. Rwy. MISCELLANEOUS. ber Inc. . Bhevy” dhase "Siub 31 D. o r Mfx 6s STOCKS. PUBLIC UTILITY. Amer. Tel. & Tel. (9). Capital_Traction Co. sh. Gas Light . Steam NATIONAL BANK. Capital (14). Columbia (13 Gommercial st Feder: sstae Secyrity & Trust Co. (15} ental Trust (6). e ants' Bank & STH Prince Georges By Unifon Trust (8f) &8 SAVINGS BANK. Bank of Bethesda (6f) .. & Baving: ast Washington (12). otomac . Security B nth _Street Dni tates (30 ‘ Washington Mechanics' (30 sulic 82 o8 7 TITLE INSURANCE. 83 le & Inv. Co. Md. com. MIBCELLANEOU! Barber & Ross. Inc. Chevy Chase Dairy edical Blds. & Gravel g25aR B SHE: & (a8, ig. Corp. (1), & Lothrop prd. (1) 32% extra. - MARYLAND TOBACCO PRICES. BALTIMORE, November 17 (Special). —Both receipts and sales of Maryland leaf tobacco were only fair last week, month amounted to 5,330 hogs- heads, containing 3,686,550 pounds, which :old at an ;’v" Mfiz:"lfi’e&u a pound, compar sal 768, ber, at an average price cen its & . an active demand, the medium what on xew Yorx BQ) Private 1. Bremen 7s 35, Canada 42 Chin Gve Ry s '51. Finland §%s Finlan® 78 Fram I D 7% French 7s'¢).... French Gvt 7%, German 5348 German Bank 6s | J: Norway 6s §3. Orient dev 5% ‘58 Orfent dev 65 '53. .. Smnan ~afiwe Tokio 6348 Utd King Utd 88 Coy Uruguay Vienn Yokohama és AbitiDI P& P 11 At Ref deb 63 '37.. Bell Tel Pa Bell Tel Pa Beth St p m mBT istpt Inland Steel 4% In: Cement REZZZZZ 23S e AT aa5a53 by S una 82~ 3%~ »SaaFum [rs oo 035 52 wenfaSwvaSous Brals B8are smanpnaanad wNea2EnalanaSuan o Rade nesralcrafidlvnaane vulie Aee®aa9ais Benea - oy e oS 85000000 T 3 o 99% | Can Nat 434 05% | Colo Sou 438 MISCELLANEOUS. 38 101% 101% 106% 106% 106% 101% 101% 108% 103% 108% 103% ONDS o e Sales. High Low. Close. Nor St Pow §s A '41 7 1084 10314 108% Nor 8t Pow 63 1 106 108 108% 108% 102% 102% 52 53w 104% 104% 100% 100% 86y 364 2 92 104% 108 70 L 1N Sinel Cr O 83, Sinelair P L 6 100 Sk 8 & 106 105 A 106% 108% 1044 10434 My 99 % 26 964 974 1064 1064 100% 101 98 98 70 0% 101% 101% 0% 81 ——wem® -~ =13 Sug Es Or 7s Tenn Copper . Util Pow 53%8 47 Walworth 65 A a % Warn by Ble i 104% 104% 103 108 98y 99 8y 98Y% West Un Tel s '51. W1L-Ov 18t 6358 '3 Wil & Co 1st 6841, Atch'onev 438 41 15 121 AtCL col 4852, 5 AtCL 1st 4s 53, B&Odn'ss 95% 95% 101 101 9% 95 10’ 105 101% 101% 101% 101% 10815 108% 95 95% 102% 102% 894 891 MY 99% 4 (] 67T 67 % 1% 98% 98% TREIIWIDD I3d L LI L 0000000 Nemamas LT . (=] >7 Brooklyn Un Bklyn Un Bl BR&PItt 4% Can Nat 4%s 9N 91K u sew sy Can Nat 4%s 1 Can Natl 4% 5 ‘55 oto 1ot Can Nat 68 July Can Nat §s Oc Can Pac 4348 '4f ‘Can Pacific 4%s'60 Can Pac §s et 98% 981 102% 102% 100% 100% 5101 101 101 15 9% 90 97 434 70 961 841% 93% 991 ” & Q gen 4s'58. goa gg gs 8 saoe 22ten . 10 StPadiss 31 Wgnds's7. 1 4%n2037 3 43%43C 2037 12 28 » h e RREER zZZ 999 99929939 2 3 Q92293 e .,;:zz,bb 84 84 8% 78% 76% % 101% 101% 101 101 04% 104% 104% 2 i 102% 6 102% 102% 102% 2 101% 101% 101% 18 97% 97 Cuba Nor 5%s 43 1 37 e 7 Del& Hudrfés'¢3 3 96 95% 95% Del & Hud ev 101% 101% % 96% 96% 7% 76 106 106 % ¥3% % 784 821 82 81% 82% UK % 106% 106% 111% 111% 98% 984 104 104 954 95% m 28 -] al Q Q Colo & Sou ¢ %= '35 Fla E Coast 53 '74. GrTrsfdbés'16 12 36 Gr Nor gen 7s HavERL&P Hav Bl R; % Hud & M adj Hud & M rf bs 111 Cent 48’52 111 Cent 48’53 gt EETETY Int Rap Tr 6s°32. . Int & Gr Nor 6s '52. Int RysC A 5872, Int Ry CA 6%n"47 PIETTS 1 104% 9 56 104% 104% 55% 55% 93% 93% 101% 101% 2 9% 4 101% 89 88% 884 9 8 94 4 4 101% 101% 5 107% 5 101% 101 1014 83 88 81% 814 9% 94% 116% 115% 4l 41 9% 9TH% 3 111% 111% 111% 7% 98 6 102% 102% 102% 7 101% 100% 101 18 994 98% 994 . 2 109% 109% 109% 13 104% 103% 104% 09% 109! 101% 101% | PEGGING OF WHENT PRICE IS RESUMED Government Again Enters the Market to Prevent Fur- ther Declines. BY OWEN L. SCOTT. Special Dispateh to The CHICAGO, November 17.—Wheat was back in the limelight today with the of- ficlal solution of a mystery that had puszled traders In that commodity for over a week. This solution was afforded by Alex- ander Legge, chalrman of the Farm Board, who announced that the Gov- ernment had re-entered the grain mar- kets and had purchased millions of Enhau of wheat in an attempt to stabil- the Farm Board was acting tn this country, representatives of farmers wheat at Winnj lowest price in , and down near- l:d ':tnn:a from the X armers want government. to maintain prices at between $1 and $1.15. Price Pegged. At Chicago, while the Canadian mar- ket was falling, ?fmmht future 101% 101% | § Comparsatively, ngumemm- ', Wheal nunv:thn itural . i i : i i 1 s : b WARNER BROS.’ PICTURES NETS $7,074,621 IN YEAR * sacked, per Wisconsin round _whites, l.‘)l'll“: faney, %m 1.70; Minnesota, North . 45, Tussets, No. 1, 1.7581.90; No. 2, 1.4001.45; few 1.50. Sales. High. Low. Close. 1 106% 108% 108% 108 108 108 - o Srn wnuSoRe 1. Third Ay ref s 80 Third Av adj 5s '80 Un Pae 15t 48’41, [T TN, SUTRIRTN . e