Evening Star Newspaper, January 22, 1931, Page 14

TA—14 exsk "FINANCIAL., THE EVENING STAR, WASHINGTON, D. C, THURSDAY, JANUARY 22, 1931, . -FINANCIAL. S MOVEAWATED [ NEW YORK STOCK EXCHANGE | BONDS IRREGULAR | Coxee sons BONDS woce sscmuvcr] PROSPECT F GOLD - Received by Private Wire Direct to The Star Office. TR oy SR (PO [N YR T uN NEw UFF UNITED STATES. Ror StPANER hl;l.lgl.l{l. lln‘;: (;.‘;l;} : sal P (Sales are In $1.000.) Nor St Pw 5s . L (Continued From Page 13) 3 Swiean Tat. NGISS M. 169 Olior. Ch l 2 awier Hien Low. Clow. | pac G & E1ox'42.. ‘3 lga e 7 i ki 2 2 ; 1930 Stock ana sale Prev. Stand Brands (1.20). 38 18% 18 1813 18% Paramount s '4 5% 95% Low. Dividend Rate Add 00. High. Low. Close. Close. Stand Brands pf (7). 1195 119% 119% 1194 Lb1stdts.. 22 10812 1039 1089 | paine Exch ? 62 55 62 116 Nat Lead pf B (6)... 108 119 116% Stand G & E (312) 611y 614 b 4th4ls.. 100 1042 104 104 Phila Co e il 100% 100 100% Canada Will Not Take Initia- 30 NatPow & Lt(l)... 17 33 aaw 321, StandG & Epf (). 4 9% son| Trading in Moderate Volume, |1/ S3%s: 40 10278 10226 10226 | ppila & Read 80 79 a0 |Advance in Sterling Exchange Steel oaine: 44 44y % Stand Oil Cal (h213). s 1oas IO a8y |EosTel&Css 7% 12 T3 e ¢ e Rty 6 1 62 62 96 Stand O1l Exp pf (3). 3 s ? 5 3 " TSaNN. Pub Sv G 414570 1084 1031 103% f tive in St. Lawrence River Nat Supply pr (). 108 108% Stand O N d (1) .- With Prime List Fairly | s BT TT ST I B e e 9% 91l $2 Precludes Shipments Surety (5) . 5013 50% Stand Oil Y (1.60). 6 8 L 14 1138 1136 1136 Rem Arms 6= A '37 96y 954 96% ; At Tea (1) : %181 5 4 3 89 R9 89 Development. Névads Copm . g erl Sec ' Steady. PO O Naieh. Low. close. | Rich Of1 tat 8u 44« 561 B4 56y From London. Newport Co (2)..ea. 5 " a5 35 35 o 8. B|spenuvnonsea. BN B41s B4l e A |sinclairoil 61538, 5 9T 91w 97M BY CHARLES F. SPEARE. a0 90 : 1095 109 190k | Special Dispateh to The star. an a0 |3 1001s 100% 1001s| NEW YORK, January 22— The fur- 50'c aoa |Sou Bel TAT 23411 '3 104w 104% 104% | ther advance yesterday in sterling ex- 9042 | SW Bell T 58 A '54. W 106 1064 644 | SUQHIN T 5n°46. ... 20 104% 104 104 | CNANE®: along with strength in most of TLISUONN Y 4%a751. 32 100% 997 100 | the European exchange rates, put fur- 105 | venmicep ey 96% 96% 96y | ther into the future the prospect of Tenn EIP 68 A ‘47 10614 10814 106+ | IMPorts of gold into this country from 81% | pax Corp ev 58 44 99% 99w 99y, | London. 95 o The definite policy of the Federal 103% | U s 99 98% 98% | Reserve Banks, as well as of interna- 108° FT S ROTINCS . 74'4 T4% T4 | tional bankers who normally are most 1% | Utah P& 1 101% 1014 101% | closely identified with gold movements, 10815 | Util Pow v 73% 73 73%|is to prevent gold coming here, even AGHEULLPOw S Ss 4 80 79'; 80 |though the exchange rate on London Vert Sug 18t 75 42 42 |may be at the importing level. New Walworth 65 A " 5% 75% | York, like Paris, wants no more gold: but Warn Br Pic 6s 3 Tl 9 7113 | the American market, like the French Warner Sug 7s’41.. 1081y 10315 | market in 1930, may have to take it { West ‘4., 105 5 under the arbitrary laws that govern West Un Tel 5551, 5 103% 3% | exchange operations. R 1 London Banker's Critick B cconts i o Th: cr’i‘li:l:m b: l’h:grr: :\“r'r‘\.nnn Ygstn Sh&T 55 '78. 20 108% g:aze n‘l the ]ll"fll‘sl Mnd("“( jf\ln‘t stock nks of the policy in banking in this A . country which has resulted in a hoard- 0% ing of gold was received with much in- 595, 96 terest in banking circles. The United 97% | Atchison zen 45 3. 99 o9 |States like France, is being blamed for 94'% 94' | Atchiscv 45 '41.. 34 117% not releasing long-term credits to coun- 98% 9 97 tries that are in need of them and 795 9 » whose trade and political situations are 110% & 8% disturbed from lack of ::e:‘n. The fac. o % tor in the general world depression o i bof Ao ot the so-called maldistribution of gold" 10514 B & rert plays a larger part in the minds of f PR e L B L British than of American_bankers. It * ikl is this situation that the Bank for In- ternational Settlements is now being called upon to consider and, if possibie. to devise means for correcling the most serious phases of it. Comment in the French press was strengly againsi action which would ] 17 e Argentine 5= '45 BY JOHN F. SINCLAIR. Central (8)..... 374 1 1 tone & Webster (1) 12 43 BY F. H. RICHARDSON. 3 Chi & St L (6).. : ] 5 Studebaker Corp (3). 31 2 Special Dispatch to The Star. Bpecial Dispatch to The Star. r & Harl e y - et spa s : NEW YORK, January 22.—Gov.| 3. %N Y Tavest (120)... 3 LA 9 ‘ NEW YORK, January 22.— The » e i b4 Sl Ay Roosevelt of New York may or may not | NYN e () Symingt - 5 s | welsht of over 480,000,000 new issues| L7550, S ¢t have in mind the Democratic nomina- | 17 r N g b L 7% Tennessee Corp (1).. 3 a 9 |placed on the bond market today had | yustratia 41as tion for the presidency, but he is mak- 1 Y Railwayspf.... 2 Texas PC & Oil..... 5 5 5 |the effect of restraining price move- | Australia 5s " iy o S 5 281 Texas Corp (3)..... 3 2!4 | ments and bringing about some reaction | Australia e Norf & West (112 1 204" 2 2 - iR GUILuIoh (8) .. from Wednesday's buoyant conditions. | A% 7% in championing the recommendations of | s i i : Texas Pac | Py, vant conditions. | o . North Am Aviation.. 3 3 4 . " * % both the minority and majority mem- | ,. Nor Am (b10% stk). 3Q 69% 51 4 Third Ave As the new offerings were all of a high- | p\7 0 par 4145 4 4 SR e Thompson (1 1) (3). grade character they were well absorbed. | Relzium 6= bers of the St. Lawrence Power Develop. A L el Thompson Pr (2.40). 2 ) 2 Trading was in about the same volume | Relgium 6% ment Commission. 32 6 Ohio Oil Co (2 2 ; Thompson Starreit. . as it has been all week. While trans- | Belzium 7s Both of these reports are based on R Omnibus Corp. | 48 Thomp-Star pf ( ¥ : actions in stocks so far this year are |RBelgi the theory that the great power which Oppenheim Col (3).. 3 | ide Water As (60c). 7% _T% _T'a| considerably below those of a year ago, | Rolivar 7s ‘s 3 has been going to waste in the St. Law- evator (21). 5 8 Tide Wat Oil pf (3).. 2 7 the total bond turnover since January 1 | Bolivia 7s ctfs 69.. rence should be harnessed as soon as fic Gas & El (2). 8 " Tide Wat As pf (6).. 2 has exceeded by over 15 per cent that|Rolivia 8s°45. . possible, and that the small consumer, ting (3). 29 rimken Roller (3)... & 45 of the same period in 1930. Gains have | Bordeaux 6 '31. as distinguished from the large manu- el (7). 108 2 N Tobaceo Products ... , { oceurred in domestic and foreign bonds 2i1 6158 " facturer, mus’, be given the first consid- | Tl Pach Mot Ohiri¢dte). 10 p 9 ¥ 3 Tobacco Prod A t95¢ 13 l 1 1's|as well as in United States Govern- 161 eration in the distribution of that power. Panhandls P&R. .. 1 2 2 Transamerica (1)... 3 a1 23'% | ment obligations. zil s ... g Paramount Pub (4 § ri-Cont Corp. ... .. 1 The gilt-cdged issues on the board | Rrazil 85 41. Reduction in Costs. B elas eanENOR: - 3 3l 5| 9 ri-Cont Corp pf (6) 92 92% | showed additional strength today. The | canaaa 5 Should Canada agree on the site and | g & it | ruscon St (1.20) 23 prominent legal 4 per cent bonds, lke | (:anada 5< program, the construction of the dam ot 3 3 A @ Twin City RTr (84). 2 91y 4 9% | those of Atchison and Union Pacific. were | (v f1e fs ‘a0 and power house, at a cost of $70,000,000, [ ¢ Bentolc's Pord c1) 2 ; | e Twin City R T pf (1) 2 within fractions of par. Chicago Union | chile 6«31, means a cost of but $10 per horse power Penney (J C) (3). len & Co (1.60).... Station 6'.s advanced a full point. |chile 7s's each year, as against twice that figure| ¢ ik ‘nd-Ell-Fischer (5). 25 « | There was a little softer tone in some | Chin Gyt Ry : for steam-gencrated power. Probably it | gos Bt "nd Ell-Fisch pf (7) 1008 of the newer public utilities, which may | ‘olomb 6s.J will cost more, but these are the Gov-| 5% Fetrolm ‘n Carbide (2.60)... 76 59 have reflected the shifting into Buffalo | (on Pow ernor’s estimates. 5 5 Phila Co 6% pf “n Oil of Cal (2 . 3 314 | General Electric new 4'.s on a more at- | Copenha If the power plant and dam is built, 9% Phila Rap T p (3 “n Pacific (10) 4 9 97x | tractive yield basis. It is significant |copenhas the question of the transmisison of the | } §15 Phil Re n Pacific pt (4). ... ] h of the higher valuaticn that the market | (uba 51,54 power for consumption becomes im- Phillips Pet (2). .. .. portant. Hera the Governor asks the| g Pierce-Arrow pf (6). Legislature for authority to work along| 4 Pierce Oil alternate lines: Either to negotiate with Pierce Petrol a private company to build and operate " the transmisison lines on a cost basis,| 103 = 841, = Steel pf (1) with the :aanagement fee added for 91 Pitts United ¢ this service: or the State of New York roor & its2}f construct and operate the trans % 11 AmM Argent 15882, Argentine May 61 P M Pallunansnsnle vaRBRonaBe~ PR = oemd pnmcaa e n TankCar (1.60) .. 2 231 | has placed on bonds of this type re- nit Aircraft....... 3 cently that they are being offered at “nit Carbon (1)..... 6 2 24 | 101, compared with par for the De- nit Cigar Stores. .. troit Edison 4':s a short time ago. “nited Corporation. .18520820% 20 In the second-grade rails there was nit Corp pt . 5 not the snap shown Wednesday. Some te Wi X of them were off a full point from the | Finl Tswar........ 2 82 &2 Duteh 1 1 1 1 t t 1 ' 1 1 1 t 1 l 1 it (4) . o ? high price made uzder buying by deal- | Fiat 7< ex war ‘46 &1 ' & 1m (1 L 2 {;r;‘ Cun‘\ivbuulv-\ were in several cases | ek 2 50 mission lines. 112 Am Tob B ' &impf .. 3 f nfiuenced by movements in stocks of a | Kinland 750, .0 94 I discussed this matter with certain | 193 rostal T & C pf (7) .. 3 Unit Piece DW (2).. 15 more bullish character. A decline of mID % 105% ‘,'(‘I"I“'e:}f B officials in Ottawa recently. Canada Praivie Oil & Gas 3 3 3 US& BE L .{another 3'. points in" Pan-American | French Bl 201 1 LR maturally is interested in the St. Law- Prairie P 2 U Petroleum of California 6s. which are | F'rench 9 12 S . cause France to lese any eonsiderable rence project, as submitted by the State Pressed § 1 off 25 points since the Richfield Oil re- | Gielsenk 19 9l s Por s . amount. of her gold, although this has of New York, but its attitude is that it | 7 Pressed 1 3 ceivership was announced, was an un- | GGerman °65...124 178 5 2 s « reached a figure unparalleled in history will not make any decision in the mat- Prod & Refinefs pf. .. U S Indus Alco (). pleasant incident in the day's trading. | German Rk 6<'38.. 23 Can Nat 4% "5 and is regarded as one of the serious ter until the United States Government, | 78 Proct & Gamb (2.40) USLeather........ 5 5 The market for European dollar { German 7x rep'49.. 38 . Can Nat 414857, 29 handicaps to improvement in general as the soversizn body itself, submits the Pub 8v U8 Leath prpf (7). bonds appeared to be benefited more | Gier Gen " 9 a7 | CAn Nat 4755 '68. ‘| world credit. conditions, France this issue to the Dominion government. Pub Sv von :::lr‘\'hl\‘ F "7 e 9 by the prolmur of pl[eay("e mn;iemby'the reek 6s'63 . 85 K 1 3 week is ;gah,xd tflklnxln lc*:&ldrr:::; . g ‘ub Sv N b TSP&F I8t (1.20)., government representatives of e four K 9, amount of gold from England so Government Grain Policy. Pub Sy B& G of (8, 1S Realty & Im (3).. ’ great powers than by rumors of an | 'Aiti6e > e weekly ‘statement of the Benk of Hugh Bancroft, Wall Street Journal Pullman Corp (4)... 1 bher. .. v 116714 14 eariy application in behalf of Germany | Irish 60, ‘an Nor T deb 40, England tomorrow is expected to show editor, said the other day that the| o7 Pure Oil. iy 1 bber 1st pf. .. s | for a revision of the Young plan. Ger- |Italy 7s" i e . 96y nPuc debds..... 9 another loss in bullion. United States Government is engaged Pure Ofl pf (8)...... 108 U S Steel (9)..... 139% {man government 5':s opened 1. lower, | Itaiy Pub ; g 9 [CAn Pac4lss'46... 3 ol “in one of the most indef:nsible bits 8 Purity Bakeries (1). 6 U S Steel PE(T)nns.. 7 but afterward recovered their loss. |Japa ion 65, . 931 ¢ 93 Pac41;2'60... 39 3 Movements old. of folly that has ever been tiied in its Unit Stores A. . The feature of the foreign list was the | Japanese e, : n Pac The completed figures of the move- attempt to aid the wheat growers by t 4 A a SRR ments of gold to and from the United buying wheat 20 cents above the Univ Leaf Tob (3). 4 a1 |ernment. Italian government, and the | Cr=AgtRs States in 1930 indicate an excess of market.” Univ Pipe & Rad. ... “ 2| Sao Paulo issues. It is understood - ? 9 imports over exports of $280,000,000. Mr. Bancroft pointed out that the Ut P&L A (ef2.15). % 241, there has been very good buying of | Mex 4= asstd 1910, . The inward movement was $396,000.000. / British tried it with rubber and failed it i o SO : e | el menat i . 1 Colombian descriptions after recent | Milan 6% '3 & 5 ‘ent of PRIN It represented chiefly receipts from Brazil tried it with coffee and failed ol A v s A 4 P S : 1% | studies of the financial position of the | Montevideo 6 Ches Corp £ Japan, which amounted to about 40 per Cuba tried it with sugar and failed ,:: iblic Stee) 9 Cdr Cliem i & . by | Colombian government and its provinces. Chi& 04135 A'93.. cent of total imports, and those from powerful individuals tried it with cop- Ssplid b 3 | FORT R PO oi (6l in Loow i United States Government obligations | Ney s Chi&04 . 244 South and Central American countries. per and failed. Then, what chance is | Beyholas setaln (35, 3 3 365 SnuoanrDet ¢4 Ayt 3% | held around prices current in the first | ; Chi& O gn 4155793 32 Brazil, next to Japan, sent the most there for pegging wheat? Chairman | ¢ Ry RoME TON R (3).F 121 g ‘ e by e 13 | half of the week. Banks are still large | : CR&Qgen 4s'38. gold to the United States in connection Legge of the Farm Board smiles and o : oo ESONREREE 3% 2 2414 | buyers of them. with the general policy | CB&Q4! 5 with her dollar loans. Argentina made Tepies, “Wait and see.” st O3 . ¢ Wabash pf A < 47 | to retainsthe high ratio of these obliga- | Norway CB&Q Il dv 4s 49, 3 quite_heavy shipments toward the end ‘When it comes to stock market specu- JtDent Mfg (2% “n\ldm rl;_\(x (113). 3 1 4 | Hum;:m::':wn in their December 31 OslortdsvEs l'lr\‘i'.:':l-la.- n 4 5 o(h}n:‘lo 'Qflni'flf:fifi :’nue,;%h:‘::: jon, Mr" Bancroft do>s not believe i G b . _ alworth Co ( . 3 123 | 5 ity 2 Chi Grt West 4s " gold in c ::‘!‘gl{.nli‘n be stopped.” He observes R e e ol e - 2 5 3 Ward Baking B..... ¢: . = SFlenk by 008, ... Chi M & StP 4589, situation. There were also moderale that the United States Government it-| g7 95" Rutiand pf..... Hin | F Warner Bros Pict... 1¢ 4 163, : Paris-Ly M 6s58. . Chi MESHE 4135 E. amounts ffom Peru, Uruguay and Co- self is carrying on one of the greatest L iz | Warner Quinlan. ... | Washmgton Stock Exohange:rm.«w . Ch M&SIP 43,589, Jombia. Imports from Canada were ap= speculations ever trid—that in wheat. | 12 Safeway Stores (5).. 10 3 Warren Bros (3). ... 3 ; 3 300 | i Bt 66561 Chi M SIP&P 3% 75, proximately’ $43,000,000, againat exports “Bull and bear markets are. an ex- St Joseph Ld (2).... 10 2 26 | 431 arren Fdy & P (2). 3 26 % 25 | SALES. Peru a. . Chi M & St P adj 55. 3 of aroun ,000,000. Mexico ol pression of the optimism and pessimism o3 n Fran (8).. 13 5 507 2 2 Westha kit (7). .. . 104 | Capital Traction Co.—10 at 417, Poland 6 40 Ch&Nwn 4155 2037, China sent respectively $20400.000 and of human nature.” said Mr. Bancroft, | 10 § n Fran pf (6) 18 1 7 3 est Pa Pow pf (7). 115 | National Metropolitan Bank -1 at 310 Pol 8’4 ChiN Wst 413 ¢'37 11 $22,338,000 in yellow metal to this coun- , ‘and you can't change human nature.” | & uthwestern. . 28 e | Western Dairy A (4) § 5 American Security & Trust Co.1 at|0land 8s i Chi& try during the year. Millions of Americans who never saw 2 rmE (2). . 3 31 ' Western Duiry B.... % | 365, « | Porto Alegre 5561, DAt i Wall street will recognize this as dis- | 13 el Strs.. 1 ) Western Md. ~ | Merchants' Transfer & Storage com.— | Queenland Ts *41 .:m RI&P ‘That the movement from Japan has 1 Western Pa 37 ¢ tinctly the Wall street point of v 2 |, - ., pt. . . 27%| 10 at 100, hi Seab Air Line pf. ... “ Western Union (5). . 140% | G Rhinelba 7s'46 o . not been completed is indicated in the e 49% | Mergenthaler Linotype—10 at #875. MBI S shipment of $3,750,000, which is to ar- « Country Banks. 31 Sears Roebuck 25 ; 52 31% Westing A B (2) 3 A Rhine West 63 " ; - < ‘ i | The Carpel Corp—30 at 22, 50 at 21'%.4 1 4 v. This ) .| 23 CoNG NatInv. ... " n Westing E & M (5). . % 8 2.4 Rhine West 6s “hi R : rive in San Francisco tomorrow. John W. Pole. controller of the cur: 4% hiRT&P4lx AL X S it v, e the Senate commit- | 75 chulte Retail-pf (8) 87 Ton Westing E&M pf (5) 2 9 108 | AFTER CALL. Rhine West :::c:m'z“;; :wl:u?m of the bank fail- ServelIne.......... 5 7 Weston El Instr (1), 2 P 22 21 | Washington Gas 6s “B" -$100 at 106'4. | Rio de Jan 6 n 2 the exports to this country that suneng ures during the last five years were haron Steel Hoop. . 2 2 Wextark Radio Strs b 11 | Merchants Transfer & Storage com.— | Rio de Jan 8s Chi Un St 58 '44.... last year after a cessation of sut rural banks, rather sadly added that he harp & Dohme. ... 3 2 | Wheel & L Erie pf E 94 | 10 at 100, ChiUn Sta 6158 63, shipments since the World War. did not see very much future for the| 52 Shattnek F G (1173). 5 2 2815 2 2as, | White Motors (2)... 2 2 2 2 2415 | Mergenthaler Linotype—6 at 89. 5ww... 93 9 c st The monetary gald stock in the country banks. He b:lieves that there’s | 2b% 5% Shell Union Oil. ... 9 9%y | White Sew M 4 7 | Union Trust Co.—5 at 219. 5 81 United States at the end of last De- only one answer to the problem—and 5 Shell Un Oil pf (3%) 3 2 3% Willys-Overland. ; 5 Bi 5 . ¢ X cocascrae . % cember was $4.593,000,000. This com- that is an extension of branch banks in | Shubert Theaters... 6 5 n Wilson & (0. < 3m 3w A id and Asked Prices. e Glovl Pict e pared with- $4,384,000,000 in December, certain definite commercial areas. 4 Simmons Co. v 28 5 S| 13 4% Wilson & Co A 6 9 g 9 BONDS. TS €U Ter 4% s & 1920, and represents. an increase of Those areas, he believes, should b % Simms Petroleum. .. 9 54% 35 Wilson & Co pf. PUBLIC UTILITY. " 2 Clev Term 4 $440,000,000 since February of last year. clearly defined and outlined by a com- | 32 Sinclair Con O1 (1), 5 72% 51% Woolworth (2.40)... 25 5 5 3 ool RS ; e ol P b (Copyright, 1931 & nelair Oil pf (8) 4 169 47 Worthington Pump. ; 31, | Amer. Tel. & Telga. 4155 39, 127 o . g Colo & Sou 45835 mittee of non-interested parties. con: ¥ | P OBy | Jimer Tl & Te s 4 : g g lo & Sou 45835, v 1 5 D i SRR TS T sisting of the governor of th> Federal o 9 | 7 25 vyale&Towne(2)... 29 Am. Tel & Tel . i F 30 |Colo & Sou 4155 ‘80, ilph(6).... ,3 63 & 5 % 84 Yellow Trug | ‘Anacos ot ginar ‘s 3 Con Ry 41z% st '51. . Reserve Bu"dh the t?tfi:eru&yn:\e! c::; a el il A - 32% 8% Yellow Truck. ) 4 9% | Anscostia & Pot. E 5 o > 6. .. U“"‘m 4%o "l"ql WHOLESALE PR'(:ES SRV, st e ot | South Cal | Sales of Stocks on New York Exchange. Capita Tractlon B R, 3 . 5% 1051 105 e rency. | " - AR q & | City & Suburban 5s viss 515 . Del & Hud rf 4543, Tn large commercial centers, we have | South Pac ks 3 10:30 AM ... 145,100 12:00 Noon. 658 600 | Georsetown Gax 15t 58....... 104 . ; Dils Mua e AGAIN GO LOWER ks shicl | 6 v (8) 1:30 P.M. .. 994,500 10 P.M | 228,900 | Potomac Elec. ‘cons. A% ... 'l 103 g Geveioped a type of banking which is | ith Ry (8)....... 994,500 210 P.) : b | o : D& R Grgn 4s “For this reason, banks shoul al-| ¢ Spang-Chal p : 92 92 5 UDIL of Lading less than 100 shares t Partly extra. 3 Plus 4% | wasrindn 0 : B | veax gl g e 15 E Wheat, Hogs and Foodstuffs Are / lowed to estabiiih branches in their : Sparks Withilng (17, 3 1 o 10 in stock ¢ Payable In serip, TPlus 0% o Siock “XFaia st veat Washingion Gee S i AR g g y 4 Pl 77 e e : bt ountey aud ety | 36% T ! ¢ Pavable in cash or siock. fPlus 8% in stock. % Bius % in | Wasn Gue ot e Bl . ¥ 8516 “ 9 Erie ov 5867, Higher—Cotton, Wool, Fruit I and Milk Cheaper. wie LB o ERE tadio Corp . s Radio Corp B (5).... & Radio-Keith-Orph A. 100 bestos Man 2.60. Tnit Stores pf s 45 |strength in Australian, Brazilian gov- Reading 2d pf « =2 2nBnonh 3 ~RIuRaNo B nan | city stock. hPlus 2% in stock § Plus $1 | ferred stock. | W : g 5 asu; | Erie s banks, he made this statement: “City L 12571h stock.” m Plus 1% in stock. n Plus 34 o srock cc & PIUS | Wash. Rwy. & Elec. ds..001.0 4 Six. P el . . bank failures have én every case been — - MISCELLANEOUS. Warsaw 7s 38, ... 61 Fla E Coast 55 '74. ., due to special conditions, while country Barber & Ross Inc, 6'ss... . 85 | Yokohama 6s'61... 97 Grt Trunk 7s '40 i hi P |TOBACCO GROWERS PLAN DIVIDENDS DECLARED ‘%'Sfié.;ng;“c'};'\q‘;f;}"i;lé“s‘n i MISCELLANEOUS. 't Nor it 091 6 il W il peias VAR Reserve Bank Earnings. i Was lngton I'Odllce CO-OPERATIVE EFFORTS NEW YORK, January 22 (®)— W. M Cold Starage 550 ; 5853, 5 1% 12 Grt Nor gen 7836 . . § the; ‘NatioBal iPertiliee Asielation, | Wash. Cons. Title 65 2 7 vosad... 54 B4 BI% = en 7s '3 based on 476 quotations, declined nine Not much is being said these days | Special Dispatch to The Star. | Resulnz, STOCKS. r . g 231 K21 Green Bay deb B... 5 9% fractional points during the week ended sbout the earnings of the Federal Re-| o A C | DANVILLE, Va, January 22—To- Pe- Pay- Hldrs. of " 37, 13 10214 Hav El Ry 5%s 51, January 17, During the preceding week serve Banks! The 1930 record is noth- | Jutter — One-poun prints, 35836, baeco growers of Pittsylvania County Arfic e O :H: maJ-mo u'vord"‘ PUBLIC UTILITY. 3 1041, Hock Val'4 3 the index number advanced three ing to boast about. | tub, 33a34. | will hold a mass meeting on Saturday Am Eq Assur (N¥) d0c Fop- 24 Jan. 30 Amer. Tel. & Tel. (9)..... 18574 . lam 2 9915 99 Hud & M adj 5 e fractional points. The index number The Federal Reserve Bank of NeW | pooe wonnery 24a25: current re- |t the high school in Chatham for fur- Am Reinsurance of 75c Feb. 16 Feb. Sl R e 13 . Am 15 81% 811, | Hud & M r£ 58 : now stands at 78.2 compared with 79.1 York is typical. It is the largest and | SR o) | ther discussion of the proposed co-oper- | C3PIIA) Secur Bf33%sc 9 Beb. 2 Jan. 26| N % w"Steamboat (12)-.111 7190 233 |AmIG O DTN a9y, 99 Gl eaicin for the preceding week, and 94.0 for commands the most interest. Its earn- | d 4 2 |ative marketing contract, which will be Concord Eiec Co...70c Jen’ el Tl Biec. Bowes O wids B s A o 180 9 214 | 111 COSULEN 58 A . the corresponding week a year ago. ' ings dropped more than 60 per cent in | Correction: Yesterday's quotations offered to tnose present for signature. Dlamd Ice & C of 3175 Jan s P T G il L Sl 2| Am Me . 13 o 9% 9 INCRap B os 865 g Nine of the 14 groups com- 1930. Still it earned 69 per cent On|should have read, “hennery, 25." A number of speakers are scheduled to Som'HiAn Bridse. 90c h. Ry. & Ei pfd. (5 98 9913 |Am N o 5 5| Int Rap Tr sta ‘66 o "+ 9., | Prising the ~index declined, four paid-in capital, against 207 per cent in |~ A evs, young, 3sa be heard. including Hurt Whitehead, |G p b L %’ pi 31 NATIONAL BANKS Am S& Pra Int & Gr Nor 6s 8! advanced, and the remaining group of | 4 A ¢ 224 250 |Am S 3 . agricultural implements showed no 1929, | who will be chairman of the meeting. | Globe ‘Const Inc .7 e % If both capital and surplus are taken | 36, old, 30a32; chickens, 28a30; fowls,| To date 268 Pittsylvania growers have Oraton Knight pf si Gofumbia (1310 400 1Am - 2 4, 12 Kan City Sou change during the latest week. The ommercial (siamped) | | into account. it _earned 3.1 per €ent.|yo..o”'s3azs: small, 20a22; Leghorn |Signed the contract. J. C. Stone, county | Guardian Fire A 2pc Bhemrier (& Sa B fAm o Ay ie - 5 | groups which advanced were metals, as contrasted to 9.4 per cent last year. agent, states that April 1 will determine | Humphress Mfg pf 50c Fed.-Am. N. Bk & Tr. (2).. 50 Am Lake Shore 3145 '97 » " building materials, fertilizer materials Liberty (7¢) ool and grains, feeds and livestock. The ! ‘The capital of the New Ycrk Bank, on | fowls. 16; roosters, 13; ducks, 15; keats, | Wicther "or not. the organization will |10 Fin 77 of. sL13 December 31, 1930, was $65577.000, as |large and young, 50a60; old, 25a30. function this year. If by that time, he | Int Pub ‘Serv ‘pi 3150 e ar G o o | AmTeT largest gain was shown in the group of Riggs (158).. . Am W Wks building materials. The groups of L&Nuniis40. ... , 91 | other foods, house furnishings, chemi- against $67.301.000 at the end of 1929; i " ; i says, the organizatiol Kincey (G R) Co pf 32 ‘Fh’”? e sarpiiis stcod. &t $80.6751000, Dressed—Turkeys, young, 40a42; old, say: zation has not developed | Kingey (G R) C Bl:¥ B L 43 AL Washington (13) e i cals, drugs fats, and oils each declined e more than one full point. .- 1<} £0000DDO>0OOOLODOOD; as BRa2RNERNEE, S Ratam e a small proportion of the 4.000 eligibl In view of the low state of trade last | 70a80; old, 40ad5. for membersnip in the counlg".m s o year, the record of earnings Is a good| Meats — Fresh-killed beef, = 15alo: DD | peg®E gy oo one.” But, still, that is the wrong point | veal, 19a22: lamb. 21; pork loins, 18a e St e to emphasize-—Federal Reserve banks‘:)-’g.xf;ehh hx}m;‘ Lnazo. tzrzesgssnomd;r} MONEY MARKET. | R0 ePhies & geur S were never made to earn money. That|16a17; smoked hams, 22a26; smokes 3 : is not their function, and already too ! shoulders, 16al7. bacon, 24a26. NEW YORK, January 22 (#).—There | Sufety Credit Asso..40c v | ..Do pt canss N much emphasis has been placed on that | Lard—Bulk, 10: packages, 11. | was little or no demand for the arge | Troxel Mfg pi’. 3175 El Neninst $80.000,000 st the close of the | 39836; chickens, 32a33; fowls, heavy,|Suficiently, the moventént will be aban- | Luther “Mte co: " 32 3 | TRUST COMPAN e mergers and failures in the New York | 20; capons, large, 27a38; small, 32a35; | ful that 1.500 farmers will have signed | moo.Fojtiand Cem.50c 3 The prices for 19 commodities ad- Nalt. Sav. & Ti. (1207 410 S | Rell Tel Pa Washington Loan & Trust (141 5 Beth § as MK &T 1st X p 91 vances were noted in_cottonseed meal, Commerce & Bavines (i0)!111 338 ... | Chile Capdb bn' g b sl L A ot R . commodities that declined were cotton, 65 Security Sav & ‘Gom. BK. (i7). 481 don:a temporarily. or until in time for Mart & 5 previous year, Recent member bank | 24a25; small, 23a24; Leghorn fowls, 18a | perfection neEs e e "emhopg_ Mart & Schwtz pr 3175 A usT ConPaY ' mer cnrity rust Co. ( 3 At Ref deb - y ; Morris Plan of RI31 15 Continental Tyust (6 district accounis for the sarinkage in | g,cu. 9425 roosters, 15; keats, young, | by April 1, although this is relatively Nat Biscuit of...31.13 i = vanced during the week, while the B A Sap i & THRE 32 | Reth Steel pm MSib&asMasgtd. 1 841 941 94in| prices for 37 commodities declined. Ad~ SAVING Boialic e : 33 | MK & T adt '. f wheat, hogs, feed stuffs, finished steel, Bank of Bethesda (65) S 5 Chile Cop db 58" MK&Tprin brick, lumber and rubber. Among the East Washington (12)... 5 o 110y : “ M 4 . wool, practically all fats, oils, eggs, Beeimts Say SoLaei 53 28 B e ¢ &y oranges, milk zinc, cement, gasoline, s B Al ) Seventh Street (12). . 290 i 20 5 9. 9 9 Mo Pac s : i | Live stock—Calves, 11%: lambs, 8. |volume of funds offered in the mone: | Un Milk (8an Fian) e ) e e =~ Mo Pac é leather and hides, DZOmnpOO © POOONOD : v | market today and, while the official Winsted Hosiers...32.50 | Wash. Mechanics' (20) 0 . Thomas L. Chadbourne, chairman of | _ Fruits — Strawberries, ~60; _oranges, | ash. Mechanics § ; 9 2 2 X Vi, 4B 98 g the American sugar delegation, is re- | California, 2.50a6.50: Florida, 2.00a3.25: | Fte held at 1'; per cent, call loans out- | Extra. PIRE INSURANCE. 3 5 Mo Pac5lsev 49, , TILE CONCERN ELECTS e U es full of | grapefruit, 2.50a3.00: tangerines, 125a Side were 1 per cent. Great_Lakes Dredse American (121 v .| Am Sug col 8s 31 9 N & - turning to the United States f grap | e aemana oy boiken® iy ¢ Ex 2 a0 n &T&M5SB 3. hope and enthusiasm for the world|2.00; pineapples, 4.00a5.00; pears, box, e Sar DRukers' Soceptances | , o e of dnaustiz : i Biremen's (). 23 Ta" | Denver Gas s’ " 3 OFFICERS FOR YEAR control of sugar production. He is re-|4.00a5.00; persimmons, 100; lemons, |far exceeded ,:“;:h:;‘l’l;’g . the pos- | “Shares’ §0.007 Ex Nations1 “unton '(isy.. 00000000 30 . : 1O : ) % turning with the signatures of seven|4.50; apples. bushel baskets, '1.00a2.00: | ¥ reduction in rates Initial, TITLE INSURANCE. Det Fd rt 68 B '40.. ‘ 5 | N All officers and directors of _the exporting countries to his proposition | box, 2.30a3.00; grapes, Emperors, 2.50; | Was suggested if the supply does not in- |, . = o .. OB (R o ss 2 Dodze Br cl 65 '40 NY f Washington Tile & Marble Co., Inc, to bring this control into being— | Almicras, 2.75: honeydews, Chile and |CTease. Asking rates were unchanged. | g g1 10 g0 5 13| Real Estate (ghy e ; : o Botm ooty Py B i S I Czechoslovakia, Germany, Poland, Hun- | Argentina, 1.00a1.25 apiece. | e tone of the commercial paper | Do C. 162, 1 4 A Fisk Rub 8s'41.... 32 3 3 3 | of stockholders. They are: A. N. As- ary, Belgium, Java and Cuba Vegetables—Potatoes, 150-pound sacks, | Market was easier with augmented of- | Tobacco Prod Exp..10c . MIBUNLEANROUS. 4 NYC re im 8 cosi, president; Vito Cardinale, N. H., By il Ctake xome time to whip the 3.25: new potatoes, Florida, 2.00a2.50, |ferings. Best names were quoted at Reduced. Baroer & Ross Inc. com.. 3 | Gun Motors @ %I NY Cent db 65 2 Glueck, secretary. In addition to the contract into final form. but that's only | mostly 2.50; Idaho bakers, 100 pounds, | 2': to 2% per cent. Some short ma- | Allied Int Inv $3 pf.30c . Fen S A Al o (D . ERIEE By G S 9% I NY CLS el 318 793, foregoing, other directors are N. S. o technical matter. without any practi- | 2.75; sweets, per bushel, 15082.00; | turities were available at 214 per cent, | Intercont Invest A..30c Q Jan B¢, Paver Mis. pid_. it S SEERCRRE . NYC&StL db 4531, 3 Glueck, Angelo J. Badini, Vincent J. fal gifficulties Will it work? The mas- | caulifiower, 2.50; string beans, 8.00a | There is a good market for prime names, | Omitied R I o AT Hillb ol L B 72 |NY C&SUL 415878, : 92 " | Pletro and Prank Pastore. EhveSiramed New York lawser tays It ,900: ezgplants, 3.50a3.00; parsnips, 125 but VIrtually none for secondary, deal- | U 8 & Int Sec 1st b 135 @ Due Feb. 1| Eeudia PRIBee i ' 30 | Good 18t 8% a7, S 69% | Ny & SCL bbe8 A. o . ‘ res it w k. in spite |al150: beets, per 100 bunches, 5.0086.00; |ers said. | Deferred. FedAm® Co"Com. 11700) ; Ist 612 NYC&SUL 6532, : :rmm-H;n:-Imfi he :I‘ll(‘s\\:o;ll 00 well | castois, per P00 bunches. ' 500a6.00: | Time money was dull and steady. | Halian Superpower pf..$150 @ Due Feb, Fed_am, Co.pld. (). - Goody'r Rub . g (Y NH&H 315854 The Prince of Wales has accepted an that such plans have been disastrous|tomatoes, originals, 3.50a4.00: peas, | . stis Al i e Mer: . ksm’- com’ i1} 0 3 | Humble Ofl 553 . Pl s b P ]ng';::;'m;m'?nvx‘rzgog:fi;l on his return B oYper, 1o cafles, I mibbes, A e | 0y sacumbers: Wicrias not nouse,| T ABIS BOURSEPRICES. NEW YORK BANK STOCKS |¥freginicy bt g ] NHEH cvab 88 18 197 e sibly in whea 5 ! s, .| a tze. nv. pfd. (8) Y r 15t pi S i NY B ev s e . Close. ; i x 3 : - "1.00: kale, PARIS, January 22 (#).—Prices were Peoples Drug Stores prd. (8'3). 99 S o N ; - ; p i o e SR o ot B Do0as2a" muchroome T5a100; broc. | firm on_the Bourse today. Three per| NEW YORK, January 22 (). —Over- e e Y s Inland §¢ 150018, 24 NT ORW tnt tn % y e Tt 35 Tt A The contract is dated to run from Jan- coli, 3.00a4.00; peppers, 2.50a3.00; peas, | cent rentes, 86 francs 55 centimes Five the-counter market: Ter. Ref & Wh. Corp 'i3) .0 58 9 NY Rys Inc 6 '65. . Sea All Fla 65 A '35 9y 9% 9y uary 1, 1931 Mexico, 45-pound crates, 8.50. | per cant loan, 102 francs 75 centimes. TRUST COMPANIES The Caipel, Corp. "50,"5" chs 9 g 9 9 ¢ 4 Sea AILFIA 65 B’ 8 H 4 (Copyright. 1931, by North American News- - - Exchange on London, 123 francs 83 |p,.yers . ceevereree. T30 MERY | Wash Meq - Blaz. Gorp' vis) pt : 9 6 85 < | Sou Pac cor s 4. 96 951 95% LRl | | centimes. The dollar was quoted at 25 | 3715 3012 | Woodward & Lothrop com. .’ 30 .- |Int Papbu A 5" 15 B |N 7 96, Sou Pac ref 48 '55. 9T o1 91 INVESTMENT TRUSTS | francs 52 centimes. | 243 * 248 | Woodward & Lothrop pid. (7} Tt T ET e 65, NorBNe 82047 .. €61 - 6035 | ol Puc 44 99 99 99 b Books ciosed. TITLE COMPANY REPORTS | wew voric ssnuary 22 P.—Over-| gpopy TERM SECURITIES, Gorn Exchange 111 i a3 | aRtte i ¢ 1 ) { Nor : « 11215 11234 | Sou Pacss734....." 10 1021 102% 102% the-counter market— g . N = s Sou P&Or 41287 101% 101% 101 INCREASE IN RESOURCES |, . , c... cor 554 hevorted by 3 & W Selisman & Co o, B | e { : U IR e sRETIN AN 7T 17 |Sou Ry gen 48 '56. 88 87 87n ! (PR i it : 3 § g 0814 | Denn gen ¢ & 103% 103% | mer A5 St L 45 93 93 93 ufaciurers Penn 41 981 98 enn 70, 3 9% | Teras St 105 106 105 Penn 4% s '63. 101% 101% | pax & Ark 5% "50. 105% 105 105% Penn gen 55 6 110% 110% | pex & Pac 58 B '77. 99 987% 987 Penn 5464 . 104% 105 | mex & Pac 55 C'79. 99 98Tk 9y Penn 634236 10933 110 | mexas Pac 55 D '80. 981 98, 984 Penn O&D 4 . 101 | Third Av ref 4s'60. 50% 49% 50 Pere M 1st 4356 95 , 95 | Third Avadj 55’60, 38 81 31 Pere Mar 4% s '80 X 101% | o] St L & W 48 '50. 9% 91% 9% 102 | gx dividend T 38 Nor Pac 48°97. . ..., 2 96 96 |SouP 4les’69 ww. 99% 99 99 127 : ; ATl Am’investors A°111 9 Allige o = B e T e ikl e, |42 9 feear B0 | Amerfeane? €0 SHiL-iais toast fhg New Yokl I $1,000,000 Dredging Contract Slie D60 unds is indicated by the - | Am en Secur 67, pf 11l 1 SerieRn Tamad biia il h 103 | United States oot redging Contract. c| 5ls : Z | Astoc Stand OIl Shares - o - X Wesichester Titie & T it I 1) +000, g ! ent o e e O vy o, | Al § Bae t units’ | Batevian ret, Torp. ' 47k 'Ta42 T g : BALTIMORE, January 22 (Special). | [/ & Myers 75 4§ gage Co. according to W. J. Booher. at & Pac conv Bell Tel. of Canada 5: 57 BANKS. 3 Yy .| Lig & Myers 7s . manager of the company's Washington | Atl & Pac pf war 12 | el e 1938 America . ........ sa'. 61'2| —A million-dollar contract for dredging | r.oew's 6= war ‘41.. Eehneh | Chain & Gen Eauiiies ¢ 2 312 | Cansdian Nor. Rwy. 415 1938, 3 10214 [ Bz ot U 8 umitalllll] i in Baltimore Harbor and its tributaries | oew's 6s ex war. The statement shows capital. sur-|Gorporaie Trost Smares .. 3 | Ght: Nortnwesiern B R3s 1033 Chage L has been awarded by the War Depart- | Lorillard s " plus and undivided profits of $64401,-|Crum & Foster B Cuidahy Packing Co. 5'zs 1937 813 e : ment to the Arundel Corporation. Lorillard 5%s 249,681 as of Decem- | Depotiter Bank Share ser B... 7 Gen' Mot Accen. Corp. s 1937 103 Fifth Avel Tl 228 3 The Government opened .bids on ap- k i 3 4 B o A roaoirous utiges | nEmetAL rfuares A General’petCorn B 1040 510 9831 | First Natl N ¥ 32 5 | proximately $1,100.000 worth of dredg- | McCormack 6s'34 Pere M 1st 55 '56. 104 . 2 General Theaters E 65 1940 Harrim, . - | McKes& R5128'50 3 8 PCC&StL 458" 5 102 | UnPacist 4s'47... 99% 99% 995 524,875, The report also shows cashInt Secur corp'am a;i ot © | Goodvent T & R b8 1087 . 881 89 | Mannat Co bt ing_contracts, ‘and the Arundel Cor- [Mckes&R o%s 50 Hodastiiss 110% | Un Pac 45’68 94 94 94 and marketable securities on hand of | BT Tiunk Ot Canadn 65 3 10k | Peoples Nati: 11l ; poration was found to be low bidder on 11886 . 3 : z ; O ol A e e 328411160, The New York Title & |Nation Wias Secur oo ot ‘8% | Gull onl of'se’ a5 he3a" 103 7| - all but about $100,000 in the projects. | ont Row B8 Toe% | UnPac 14867 10 102% 102~ 102% Humble Oil 5,5 1932 il 1024 5 S " o > Northern Secur ternat Match. Marine Midland, P NSO Mor & Co 1st 41s.. X Por R L&P 748 '46. 107 | vaRy 4ts’ 101% 101 101 Mortgage Co. is a unit of :‘he Mln?:a:]- Ol ey et hkeea 2 2 H“"“‘é o‘fl'lsch1fi‘5'° 55 1947, 5 vhose 1 . . ‘e s 58 ' 4 B o URIviaed Profits a3 Ton: | S ok A NewWorcont &sL 1 ' igd 01 NEW YQRK January 22 (#).—The| CHICAGO DAIRY MARKET. . Read g0 4350 4,97 25 1028 102 Va Tty snt a6l 0 24 10T doTw 107w 4 5 " | Super Corp of Am Tr Shares A L VU A ey t of #he Marine Midland Corpora- 5 1y . 374,245, Trust Shares of Amer Pure Oil Corp Si.s 1937 repor! CHICAGO, January 22 (#).—Butter, StLIrM" '3 H . . % res Shell Union Oii Co, 58 85 * | tion, which owns a chain of banks in o 5 M'nt 58°31.. 100% | wabash 4 5 89% 88% 8974 L - Trustee Stand Tovesl Snares © Sbell Unjon Ot Qo 38,1 the 'Western part of New York State,|5.944 tubs: firm; creamery extras (92N y 41 SUL IM R&G 48 '] 9 99 99% | Wabash 2d 55 102102 102 0il Pumped 1,100 Miles. Ixe zoar Trust Sn Siandard 8 N Yoreols 1987 shows 8151 o share earned last year.|score), 28: standards (90 score car P 45 49 99 991 SUL &S Fin 45 A 8 16 96% 96 96 PITTSBURGH, January 22 (#).— i o 1 Tr 8h e . St. L., . & So. Ry. 5s 1931 The present dividend on ‘the stock is| lots), 28; extra firsts (90-91 score). 2’]- Y ELH&P 58 4 3 §L L&:B" Adas 8. 83% 24 833, Vi 95% 95 95% Storage tanks of the Gulf Refining Co.. unchanged. Su. L. Southwestern Ry. 4s 1832 $1.20 a share. The combined balance|27'.; firsts (88-89 score). 25':a26'; 9. 315 | St L&SF pr In Sueg, 100% 100%: 100% | Wabash 515 *75. . 102 102 102 sl Union Ol Co. of Calif $s 1935 ol 2424 NY Tel 6s'41..... St S Wevds'3 1004 100% 100% | West Md 4s 84 82 B4 ind here, are being filled * United Drug Co. 5s 1953. 99 ° | sheets of the 16 institutions in the chain ! seconds (83-87 score). . i Ves H Tfimfle;flkpql:lmpen througn the lunlnn A transatlantic liner being U StLSWiIstd 86 86 86 \West Md 96 94% 9 @ 2e RSulBonua PR S Rubber 851947, : A shows deposits of over $465,000,000 and Eggs 13231 crates; steady; extra N Y Telfx: H 6 e . 5 s s, N s, 201, Nor Am Fid 51,5 ‘83 3 2 3 St LS W s A 4 B4 94 West 58" % i 95 Gulf pipe lines from near Tulsa, Okla., structed at Belfast, Ireland, will ;:;;,‘;:,‘,',’.g‘,’,‘essg, LB I eapital, surplus and undivided profits firsts, 21'.a22; graded firsts, 20%2 n Pac 55 '46 854 95 & | D . ( 5 § nsw 1100 miles away, o 1,500 passengers. Wheeling Steel - 4as 2953 9L of about $80,000,000. a2l; ordinary firsty, 16al8. NorOT & L 6547 Stre l\C: Lilzs. 9 “h: 97% 97% WisCen gn 4s'36... 63%