Evening Star Newspaper, January 23, 1931, Page 15

FINANCIA CURB SHARES FIRM | ¥ IN UPWARD TREND Utilities Prominent in Trad- ing as List Again Moves Forward. BY JOHN A. CRONE. Special Dispatch to The Star. NEW YORK, January 23.—~Encourag- d by a series of news developments, the -eurb exchange opened active and higher stoday and maintained those trends as the session progressed. Market leaders like Electric Bond & . Bhare, American Superpower, American & Foreign Power, United Light & Power A. and Niagara Hudson Power moved up from their initial Bales. American Gas & Electric, Cities Serv- ice, Standard Oil of Irdiana and Vac- uum Oil also advanced. Big blocks were common at the open- h{h Electric Bond & Share opened with 5,000 shares at 44, Middle West Utilities on 4,800 at 21!, United Gas on 4,000 at 11%. Within a few sales American Superpower was ticked out . in_a 6,000-share block at 111;. Early dealings were stimulated by the optimistic views expressed by such leaders as George F. Baker, Owen D. Young and Richard Whitney. Then there was a fresh lowering of money rates, another reduction in brokers’ loans and earning reports which proved better than anticipated. Italian Supcr- power, for instance, reported record rofits which caused it to advance near~ ly 2 points on is first few sales. JUNIOR BANKERS STICK Note—All stocks are sold in ting those designated by »an. Divi % Amnnu Prod 1. l 16% 4% Allied Mills uoey. . 866 140% Aluminum Co of Am .Wl lloh Alum Ltd A war. . ‘Am Arch Co (3). 14 Am Austin C;Ar AmCP& LA (a3).. AmCityP&L B b10% Am Com P A (b10%) Am Com P B (10%) Am Cyanamid B Am Dept Store: Am Bquities, ... Am For Pow war. Am Founders. 5 AmGas& Eln (11).. Am Hard Rub (4)...100s Am Invest Inc B Am Lt & Trac (2%). Am Lt & Trpt (1%). Am Maracaibo s Am Meter (3). . 268 1 . 4R9 Am Superp 18t (6).. Am Superp pf (6)... Am Ut&G B vte(20¢) Anglo Chll Nitrate Appalachian G: 4\ Arkansas Nat Arkans Nat Gas A Ark N @ cu pf (80c). Art Metal Wk (80¢) . Assoc El In Ltd 80c. Asso Gas & Electric, Assoc O & Bl A (a2). Assoc G & E pt (5) 1 9 1 3 Assoc G & E all ctfs. Assoc G & Fl war. AssoG & Elct (8)... Arsoc Rayon pf (6). Atl Coast Fish Atl Secur Corp Atlas Util Coip Auto Voting Mach... Auto Vot M cv pf pt. Aviation SBecurities. . CLOSELY TO STUDIES ? res just made available covering the first semester of the 1930-31 educa- . tional program of Washington Chapter, .American Institute of Banking indi« ‘ eate that the mortality rate during that period was considerably less than 20 per cent. Out of 72 enrolled in the class in banking fundamentals, 55 took the final examinations. In commercial law, out of 47 enrolled, 41 finished the final examinations, and in other classes -the figures are: Negotiable instruments, | 51 out of 59 finished; economics, 57 out of 67; credits, 19 out of 22, and in- -vestments, 20 out of 24. The course in public speaking and debate will be continued until some time in April. In all probability there -will be an advanced course for women in personal efficlency, this also termi- ‘The second semester, starting January 26, will see the beginning of the trust functions . course, under the direction of Theodore Cogswell, register of wills for the Dis- - trict of Columbia. Among food issues Great Atlantic & . Pacific Tea was unusually active and + up 16 points by midday. Swift Inter- --national netted a gain approximating & - point. In the specialties Mead-Jchnson . WAS up a point at 79. Later the baking issues bettered. Drug and pharmacal Bahia Corp. . iSlue Ridge Corp. . ... Blue Ridge cv pfa3.. Braz Tr & Lt (b8%). Brit Am 011 C (80¢). Br Am Tob 1.17 8-10. Buckeye P L (4) Canada Marconi. Carib Syndicat Cent&SW Util( Cent Hud G&E (80c)., Cent Pub 8v Del. ... Cent Pub 8v Aal.75. Cent St El (kive). .. Centrifug Pipe (80c) Chat Ph Aln.y (1).. Childs Co pt (7). ... Cities Serv (g20c). Cities Serv pf (6). Clev Tractor (80c). . Colombia Colon Oil. Col Oil & Gas vie Columbia Pic (f133). Col Pict vte (f133).. 2 Cmwlth & Sou war.® 248 Com Wat Sv (b6%). 80 Consol Auto Merch.. 2 Consol Copper., 2 Consol Gas Bal Consol Gas Ut A Consol Laund (1). Consol Trac N J (4). Gont Bhare ov pf (62008 Coon (W B) (2.80) 2 4 98ix 36% & 8k 21 8% 5% - shares were mixed. In the distributing group Walgreen was up % at the open- ing. Zonite Products was off slightly, but Bromo Seltzer rose 11 2 Aectivity of radio communlcltlon -.shares was transmitted to the issues of ~-manufacturing companies around mid- -~day. Hazeltine Corpcration made & good gain. Further improvement in s-prices and prospects in the chemical =rtrade caused a brisk turnover of Ameri- Cord Corp. ..... 61 Corp Sec Ch (b8% ).+ Cosden Oil. ... Courtaulds Ltd pdic. Creole Petroleum. Cresson Consol (4c). Crocker Wheeler. . Crown Cent Petrol Curtiss Wright war, Cusi Mex Mining. ... , gs Cyanamid B at slightly rising quo- s-tations, ‘The demand for natural gas shares ll’lln attracted attention to pipemakers. O. Smith Corporation jumped § pomt.s as a few shorts scampered to cover. Aside from the demnnd for Ford, Ltd, and Cord Manufacturing, dealings in motors were limited. FOBEIG] EXCHANGE. (Quotations furnished by W B Hibbs & o) fominai gold Belling chec! ¢ Deng crown (nnm) warsaw. zloty Darby Petroleum Dayton Alr & bnn 0) Detroit Alreraft. Dress SRA (3%)... Dresser Mg B (2).. Dubilier Cond & Rad Duke Pow (5). Duquesne Gas Cp wi. Durant Motors. ... Duval Tex Sul wi East G & F Assoc. .. East 8t Pow B (1 Kdison EI. Bos 13, Elec Bond & Sh ( Elec B & Sh pf (6) . Elec B & 8h cu pt 5 Elec Pow Assoc (1). Elec Pow Asso A (1) Elec P & Lt op war.. Elec Sharehold (1) Emer BSAnv (2). 258 80 27 109% 100% 88 11 o Lon Gopenhagen, crowd Stoekholm, erown ... les in DOMESTIC BONDS. Xabama Bw 4 Alsbama Pow Aluminum 18 Appatacy l“ :Arll it P & L R Cidany Pke 8k et ‘Baas '5- A tary 13 Dot Tt ' 2030 & g ’lgus ymn * i el BET o "lmull ot nter Pw va< 4 s 3 New Eoe mz 55 ‘41 New Eng GEE 55 /48 New Eng GoE 0 NYP&L4 w-b-m ity a ] Bf.. 8 E AL % gm33asnaen | Gk Emp Corporation Fmp G & Ecupt (7). Emp Pow pt (14.60). 4 Emp Pub Sv Aa1.80. Furop Elec deb rts. . Evans Wallow Lead. Ex-cello Alr & Tool. Fabrice Finishing. Fairchild Aviation Fiat rets (1.25) Fiat Stock deb rt Ford M Cen A (1.20) Ford M Ltd (p37%). Foremost Dairy Pr.. Foremost Dai pr pf.. Foundation For Shs. Fox Theater Cl A Gen Aviation Gen Balking. . . Gen Baking pf (3). Gen Baking N Y wi.. Gen Empire Cor (1) . Gen G&Ecv ptf B (6) l.’)l)l Gen Thev pt wi (3). 64 Glen Alden Coal (8). 2 Globe Underw (30c). 3 Gold Coin new 10 Gold Seal Elec new 2 Goldman Bach T ¢ @rand Rap Var (1). Grt A&P Tea n.v.(5). xzo. GreA&PTpf(T).. 1 iroe Strs Prod vte. . 1 5 % Guardian Invest. ... 1608 llll'/- O8% GuifOllof Pa (1%). 18 1% % Happiness Candy Habirshaw (40¢) Hazeltine Corp Hollinger Gold (6! Horn (A €) 1st p! Hudson Bay M & & Hygrade Food Prod. 1l Pow & Lt pf (6) Imp Chem Ind (2 Imp Ol of Can Imp O Can reg (50c Ind Ter Illu Oil A. Ind Ter Illu VIl B. .. Insull Ut (tb10, %) Insull Ut 2d o (6) ins Co ofNo Am 121 Ins Int Petrole Int Product Int Utilities \ (3 :) Int Utilities B.... - Interstate K Irving A C tallan Buperpow A. italian Buparp war. Jonas & N eum pf. .. KleinertCo (1) o PPN AN N ROANE— AN~ - - : u 13% 5 Le ' Lion Ol & Refinin| &. dred-share lots m 8 (808) (2508), shows those stocks wen nnld in odd lota. Mdu oun. m-n. llA' ml“‘ NEW YORK CURB MARKE % % Loutsial Memph Mesabi Mo Kan Nat Am Nat Avi at In En Niag-H Nilen-Bi Nipiss or Am Ohio Po: Ple Bak Pitts & Polyme: PSof N Pub Ut Pure Of Relianc Richfiel Rchulte Sel Ind Shattue Bhenan Bilica G 19% Smith ( 4 12:% % e 1% 2% Bouthld Stand Of Btrauss Stutz M. Sunray Swift & Tri Uti)! Unit Ca Unit Ch Unit Cof Tnit Lt Ui PA Ut & T Ut & I 4 Walker Watson West A wil- 21 4% 21 18m nDiyidend Sou Cal 10M Lon lhrnnn i) 80 Long 1sland Lt (80¢) Mayflow Assoc Mead Johnson(13%4) Mercantile Strs (1 Midland Unit (b8%) . Miller &Sons (2)... Moh H P 15t pt (7)., Mont Lt H&T (134) 388 Mount Prod (1.60).. gn(!bndfil at Fuel Gas (1). NAat Mfgs & Stores. Nat Rubber Mach. Nat 8h Tr RecA (50¢) Unlon Radio. ... Brad Ol (40¢). Jers Zine (13).. ewmont Min (4) N Y Hamburg (2%3). N Y Steam n (2.60).. N Y Tel pf (834).... Niag-Hud Pow A w.. Niag-Hud Pow B w. 5% Niag Bh Ma (40¢c). .. Pllot Rad Tube A. .. Pitney BPn (20¢).. \ Premier Gold +15¢). + Prince & Prince & Whitely pf. Prudential Invest. .. Pub Ut Hold xw 50e. Puget Sd P&L pf (3) 2008 81 Railroad Sh (50¢c). Ttainbow Lum PrA. . Reiter-Foster . Reliance Manag. Reybarn Co. Rike Kumbler (2.20) Roan Antelope Min. . Rock Lt & P (90c) Roxsia Int Corp. 8t Anthony Gold St Regis Paper ( Salt Creek Prod (2 Saxet Co Beaboard U Seg Lock & H (50c). Selected Industries. . Selected Indus pr pf. Sentry Safety Cont. . Sherwin Wil (14%). Singer Mfg (10). So Am Air Lines 1st. South Penn Oil (2). . Bouth CalEpt A 1%. South C SW Bell Tel pf (7) 8 W Gas Utilities. Spanish & Gen rets. . Stand Motors....... d 011 Ind (2% Pub 8rv N 1. {nn 1, tola l.t}h Direet .. st e na Lan & Ex. N G Co (60¢) - Iron. AN SE R DN - s PL(b10%). 29 80s 101 67 2 % erican Co. ation tors. » s B DD AOTN S - & Pow pf (8) # =552 ud Pow (40¢) em-Pond (2). ng (30¢). Noranda Mines AVIat A war or Kurop Oil Corp. or Bt Pow A (8). ovadel-Ang (t4%). Ohlo Ofl n cu pf (8 215 10214 w pt (8). Outboard Mot A . Outboard Motor B Overseas Secur (1).. Pac Pub Bve A(1.30), Pandem Oll...... Penn Wat & Pow (3) Peop L& P Aa2io.. Phillp Morris Inc. ... % 31w 6 L] 107 3 A 1% 167% 10% 230 7 1% 6 ot Am A (2), 5% ™ 108% 3 & 1% 15% 10% 230 7 L Erle (3) t Mfe. . itely 1 (H)no par 258 Hold (B0c). . 1 6 8 81 m 2% 1% N " 2% 5% 231 18% 1 1pf(6)...... 108 19 1 14 15 e Int A 4 Ol Cal pf. . 6 1 4 1 2 2 2 4 8 1(50¢). 4 1 4 4 1 6 2 (tull p stpd). 38 7 : k Den Min. 2 Shenandoah Corp Corp pf (ad). : xn- 508 62% 1 % 1108 342 1008 145% ol o4 A0) (2) 187 145% LY 23% 23% 291 294 284 264 f Royalty 80c. i O 119% 119% % 4 qu(lu) Stand Ofl Neb (215 Stand 01, Ohlo (2 .)sboa Starrett Corp Starrett Corp bt (3). Rtein Coxmetics, Roth. .. Stromberg-Car) (1), otor (new) Oll (b5%). Co (2).. Bwift Internat (3) 4 Tampa Electric (2).. 3 Technicolor, Inc. Teck Hughes (60¢). . Texon Oll&Land (1) Thatcher Sec Corp. . 3 Tob Prod Exp (10¢ Tran Con Alr Tran Trans Lux DL P 8 ities ($1.20), Twin StN G pt (A).. Ungerleider Fin Cp.. Union Am Invest.... Union Oil Assoc (2 U'n Tobacco rbon pf (7).. em pt pt (3 rp war. . Unit Elee Sv (pi.41). Unit Fou (b2-35 8h) . Unit Gas Corp. . 1087 Unit Gas war Unit Gas pt ( &Pwr A Unit Lt& Pwr pf (8). Unit Ret Ch pt (3%). ] 8 Elec Power ww. Gypsum (1.60).. & intl Sec mm Lit(at1.02 Ut PRL ¢l Bat1.0; nd" nd pf (1%) Utility Equities Util Equiy pf ( Vacuum (4), Vie Finan Corp( 4 Waitt & BonmA)l') Walgreen Cy (H) «J W) Co. ir Exp (60¢). ow Cafaterian, Wil-Low Cafeter pf. 13% 2 21% 2% 24 a 21% 5 2u on I ?ul l;" ul qul S Bayavier | m 3 .Feb, l it Edison. ... Received by Private Wire STOCK OWNERSHIP | FOR EMPLOYES HIT aeneral Electric Head Tells How Thousands of Work- ers Switched Securities. ‘The unuency of big business to en- courage employes to purchase stock in their company is not without its trouble- some side. Owen D. Youn; ing. head of Gen el Electric, describes the ex- perience of that corporation with stock-owning _em- ployes in Colller's Weekly. Some years ago, Mr. Young ex- plains, he decided that it would be a fine thing to en- courage stock own- ership by employes of General Electric. “It would give them a feeling of independence, I 1t,” he writes. ince I believe in the electrical in- dustry and in our company, I thought Owen D. Young. 1|1t was sound policy to encourage our 1% 16% m 1 127 45 10215 10614 an 3 men to buy stock in the company, and to aid them to do so. “And 80 shortly after the last depres- sion we launched an employes’ stock- purchase pmfum As I recall it, about 14,000 subscribed for and finished pay- ing for General Electric stock, and as prosperity returned and our business flourished, the market value of that stock virtually doubled lnd I thought I had done a fine thing. “But what hlpDenrd" It seemed as if every wild promoter in the country began campaigning to get hold of this &tock, exchanging for it gold mlnes or worthless oil stocks or a sl any project that offered |llwerm. proa- “Unfortunately, the increase in value of our stock had given employe stock- holders an idea that now they knew how easily money was made. They listened to what they wished to hear, and all but about 2,000 employes’ names | disappeared from the stockholders’ list, B4 106‘4 3 L3 1% 1674 10% 230 ki 1 6 84 81 4 ™ 1% 157 1% 23y 204 2% e 1191 o Elevated I their stock passing into other hands. And so I learned that my idea wasn't 80 fine after all. “Because all men are not alike in ability to save, we have a pension sys- tem, although the ideal thing would be a condition in which from a high wage employes lald aside their own reserves. All men, it proved, have not like abil- ities in ‘holding onto what they have, 80 we altered our stock-ownership plan. Employes now own bonds of an Em- ployes’ Securities Corporation, and these pay 6 per cent regular and 2 per cent extra income, but the 2 per cent provision lapses if the bonds pass out of the hands of employes. “We have approximately 100,000 stockholders. With a single exception, no man or institution owns s0 much as 1 per cent of our stock. Actually, the biggest stockholder of all is our Em- ployes’ Securities Corporation, which owns 3!, per cent of the total stock outstanding. Behind that unit there are 37,000 individual employes who ave subscribed. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS NEW YORK, January 23.—The fol- lowing is a summary of important cor+ poration news prepared by the Stand- ard Btatistics So., Inc, New York, for the Associated Press: New. Trend. The day's corporate news is of a mixed character. # | declared a stock dividend of 14.4 per cent. Rights have been offered to stock- holders of Public Service of New Jer- sey to purchase new $5 preferre 1 stock at $97.50. Except for higher share re- turns for U. 8. Pipe & Foundry, earn- | ings reports are unfavorable. |in equity have been appointed for Win- chester Repeating Arms of Delaware. After five weeks of relative stability, the Annalist weekly index of wholesale commodity prices has dropped to a new low point for the past 15 years. The de- cline was due Priclpllly to weakness In agricultural prices, index for which fell more than 1 per cent in the seven days to January 20. The composite average of wholesale prices, according to this Index, now stands 18.2 per cent Below the level of a year ago. The Companies. American Tobacco—December Lucky | Strike sales up 653,108,000 units; 12 ! months, up 6,219,766,000. Discontinues direct saies to United Cigar Stores. American Water Works & Electric— cent; 12 months, off 4 per cent. Chain Belt—1630 common share earn- ings, $4.29, against $7.04. Chain Btore stocks’ liquidating value December 31, $14.87 a share, against $19.28 December 31, 1929. Curtiss-Wright Corporation to manu- facture light plane, listing at $1,490. Several other new models to be brought out this year. Subsidiaries receive Army -;r;.nn. contracts aggregating $1,190,- Howe Sound—1930 common share earnings, $4.09, against $7.38. Inurbnrounm Rapid Transit—Board ttansportation to go ahead with sub- ny plan on astumpion Sixth Avenue ines will not be razed. lmem.unn 1 Telephone & Telegraph rporation — International Standard ~ Slecttio, mabaidlacy, offers to reoraamise 15% 1™ 8% 1% 184, 314 | 15% % % 144 21% 24 Special Dispatch to The Star. BALTIMORE, Md., January 23.—Po-~ tatoes, white, 100 pounds, 1.2582.00; sweet barrel, 2.00a4.00; uml”:wbu Detns. Dushel, '.006 80a2.75; cab hAmDfl' 1.258275; peppers, crate, 1.508 rsnips, bushel, 80ai.20; turnips, , 1.00a1,20; to2s, crate, 1. no- 2N 1504 grape. (r\m box, 1.5022.78; onnm box, 100- box, ul 50; %ylu. box, 1 Poultry, lhv‘-mh'fl old, 28a30; chickens, springers, 25a26; Leghorns, 18a20; barebacks, 14a15; old hens, 18a23; Leghorns, 16a27; roosters, 12a14 ducks, 15a25; geese, 14a24; | guinea fowls, each, 30a60; pigeons, pair, s Recelpts, 625 cases: nearby firsts, 23; Southern firsts, 32; current noelm-l. ?mmd 28a31: hd.kt. ”fl! rolh 16a process, 27828; store packed, Hay nl Grain. ‘Wheat—No, 2 No. 2 red Wlnur. e January, fl, rn—No. nnov. old, 82a ugb“m 83; cob corn, v, & Rye—Netr , 60865, Wfllh. No. 3, new; 43ad4; No. MM‘" riously curtalled n:arby crops, clnn. ing the entire situation. Sections here- tofore shipping are now asking for of- fer of hay. Good clover, mixed and timof m' hay will bring from 24.00a 28.00 per ton. straw, No. 1, per wn. 9.00a 008 Wheat 10.00; oat straw, No. i, per 10.00. Live Stock Market. Odttle—Receipts, 400 head; moderate supply, market lower. Steers—Ohoice to prime, none; good to choice, §.00 to 10.00; medium to good, 00 to 9.00; fair to medium, 7.00 to plain to fair, 6.00 to 7.00; common lain, 5.00 to 6.00. Bulls—Cholce to prime, none; good Finland’s wire system. Lone Btar Gas declares stock dividend 14.4 per cent on common shares. Marmon Motor Car had _deficit | '" ,937,508 in nine months to Novem- | bef 30, against net income $727,010, equal to $2.59 common share. National Securities Investment— Liquidating value January 10, 1931, 1.67 common share, against $6.61 June 0, 1930; net meomz, July 1, 1930, to January 10, 1931, 1y New York su-mAlnmd 65-cent quarterly common dividend. Public Service of New Jersey—Prefer- red and common stockholders to receive rights to new $5 preferred, 1 for 20 preferred or common held, at $97.50. Richfield Oil of California—Bond- holders Protective Committee formed. 8chuite Retall Stores—Prices of pop- ular brands of cigarettes reduced to 11 cents package for one week, to meet competitor’s special prices. Southern Pacific, Kansas-Texas asks C. to order maintenance of ntu and through Toutes over cotton belt, if acquisition is approved. ‘Telephone Bond & Share—Additional class A stock offered shareholders of company and affiliates at $50 a share. Union Bag & Paper reported 1930 deficit may. roximate $150,000 against deficit $750,089 in 1929; in- ventories reduced about $500,000 during 1930; current operations averaging about 80 per cent of capacity. United States Rubl becomes scurce nl nlflnly hr uonuomery-w-m tires Samson Tire & lllhbel‘ and Ollle!t Bubber United State Pipe Foundry de- clared four 1931 qnnrlerly dividends of 50 cents each. Preliminary 1930 com- mon -;h:nnl;;mm- $3.42 against $2.74 Péclflc ~-Missouri- Lone Star Gas has | Receivers | | | December electric output off 10 per‘carmls per Trade Reports at a Glance By the Associated Pre: NEW YORK, FINANCI anuary 23.—Tabloid review of business conditions in the wholesale and jobbing trade, the retail trade and manufacturing and industry, as well as the state of collections, reported to Bradstreet's this ‘week from the following centers: ‘Wholesale and Jobbing trade. Kansas City ..... Baltimore Pittsburgh—Tin plate m-nurncmrln largest increase in specifications. Retail trade. Fair Manufacturing Collec~ indust; tions, Slow Slow Slow low low Slow Slow Slow Fair Slow Slow Slow Slow Fair g improving; structural shapes show Louisville—Little improvement in trade; industry on short time. Cleveland—Iron, steel better, but orders small Detroit—Auto manufacturers optim! ment better. d lmatal plants at 80 per cent; trade sentiment istic; “shows” encouraging; employ~e Milwaukee—Mild weather retards coal and retail lines; snow gives employ- ment and helps grain crops and water supplies. chlcn teel prices firmer; operations 40 to 50 pe:e cent; railread buying light; road-making machinery active; coal be Bt. Louls—More optimism; salesmen back on road; industry more active. Minneapolis—Warmest Winter weather in history retards retail trade. St. Paul—Wholesale dry goods, crockery, shoes, millinery, equal 1930; furs and heavy clothing quiet. Duluth—Industry on part time, but Omaha—Retail trade featured by ol and clothing. more optimism. learance “sales” in furniture, carpets Des Moines—Wholesaling lll?ht]y improved; reu;um featured by “sales”; washing machine manufacti¥in g on good t; Kansas City—Wholesale and retail trade 1mproved lumber more active; flour “sales” small; rain is needed. Baltimore—Wholesale volume increases; dry and knit goods in best de- auto * DISCONTINUES SALES TO TOBACCO CHAIN| Aftermath of Price War Seen in Action of Cigarette Pro- ducers. By the Associated Pre YORK, January 23—Th- American Tobacco Co. has discontinued selling its products direct to the United Cigar Stores Co., but in a telegram to jobbers stated that it has no objection to their selling to United under such t:rms and conditions as are satisfactory to_them. ‘This action, which yas said to elimi- nate a special discount to United, was regarded in financial circles as a possible development in the cigarette price war which broke out in N:w York City yes- terday when price reductions on popular brands, or special merchandise induce- ments, wefe announ Schuite Retall Stor's Corporation. The Schulte Co. announced it had| reduced the price of the popular brands from two packages for 25 cents to 11 cents a package “to meet a sp-cial sales combination merchandise offer made by ancther leading cigarette chain. At the same time United Cigar Stor:s announced that for one week it would sell some popular brands in a special combination merchandise offer at re- duced pric’s. The combination, said to sell usually at 85 cents, is being offcred at 50 cents. The merchandise offer does net in- clude American Tobacco Co. products | | An official of United said the company is continuing to s:ll American Tobacco | products in its stores. Washington Produce Butter—One-pound prints, 35a36; | tub, 33a34. s—Hennery, 22a23; current re- ceipts, 20a31. ultry, alive—Turkeys, young. 35a 36; old, 30a32; chickens, 28a30; fowls, heavy, 23a24; small, 20a22; Leghorn fowls, 16; roosters, 13; ducks, 15; keats, large and young, 50a60; old, 25a30. Dressed—Turke; young, 40a42; old, 35a3/ chickens, 32a33; fowls, heavy, 24a25: small, Leghorn fowls, 18a 20; capons, large, 37a38; small, 32a35; ducks, 24a25; mmers. 15; keats, young, 70a80; old, 40a45. Meats — Fresh-killed beef, 15a19; veal 19a22; lamb, 21; pork loins, 18a 20; fresh hams, 20; fresh shoulders, 16a17; smoked hams, 22a26; smoked shoulders, 16a17; bacon, 24a26. Lard—Bulk, 10; packages, 11. Live stock—Calves, 11 lambs, 8. PFruits—Strawberries, 6t oranges, California, 2.5086.00: Florida, 2.2523.00; T’rlneflum 2.50a3.00; tangerines, 1.00a 76; pineapples, 4.00a5.00; pears, box, 4.0085.00; persimmons, 1.00; lemons, 4.50; apples, bushel baskets, 1.00a2.00; box, 2.30a3.00; grapes, Emersons, 2.50; Almieras, 2.75; honeydews, Chile and Argentina, 1.00a1.25 aplece. Vegetables—Potatoes, 150-pound sacks, 3.25; new potatoes, Florida, 2.00a2.50, | mostly 2.50; Idaho bakers, 100 pound: 2.75; bushel, 1.5022.00 string beans, 8.001 i a1.50; beets per 100 bunches, 5.0086.00; 100 bunches, 5.00a6.00; 8.50; squash, Hubbard, 3.50a4.00: mar- Tow, 4.00; cucumbers, Florida hot house, 1.00a1.25: mushrooms, 75al. 30 broc- coli, 2.75: peppers, 2.50a3. peas, e BROKER FIRM REINSTATED. The New York Stock Exchange, with the election of Allan B. Lane to !hflk of Sutro & Co. to, membership. The firm, which has offices in New York, inactive last July as a result of the suspension of their floor member from Lane and his admission to the exchange automatically restores the firm to (u.ll by United and | “sales” helped by show. PRINCE & WHITELY PLAN FULL PAYMEN 25 Cents in Cash and Certificat to Yield 75 Cents on Dollar to Be Offered. Special Dispatch to The Star. NEW of Prince & Whitely, formerly of the New, York Stock Exchani u| receive this Week an offer of 25 cents in cash and participation tertificates in & liquidation corporation to yleld 75 cents on th> dollar, it was announced yester- day by Eugene L. Garey of Garey & Garey, counsel for the firm. Mr. Garey said the plan would be embodied in a letter soon to be issued to creditor: Th> terms will comprise an offer in composition prior to adjudication, Mr. Garey said that in his opinion the pian, if followed in accordance with the views of the counsel and creditors who devised it, would mest the liabilitles of | the firm, These, he estimat:d at about | tlu_ggo 000, i “The settlement will meet about $4,000,000 of liabilities,” said Mr. Garey. | “The ‘quick assets available are worth now about $9,000,000 and, if Sdrantags is taken of subsequent improvement | the stock market in liquidation of | securities, the balance owed will be met. GRA!N MMARKET CHICAGO, January 23 (#).—Respon- sive to setbacks in Liverpool, wheat qu:tations here tended downward today. Liverpool declines were ascribed ln | weakness of Australian exchange an pressure to sell Australian whm ning unchanged to % cents off, wheat later heild near to ghe initial figures. Corn started unchanged to % u:ler and afterward showed little alter- tation, Predictions of an increase of supplies | ¢ | of wheat on ocean passage accompanied | reports of substantial clearances from Southern Hemisphere sourtes. Con- | tinued advices of Argentine wheat crop | S | deterioration owing to wet weather were thus more than off=et. mls- s sald Canadis traders had faith in reports of an alleged offer hy Russla to attempt in combination with Canada to stabilize wheat sales prices with cost of production as a minimum, and that all exporting countries would have to be in such a combination to make it workable. Reports of lower prices for bread at- tracted notice. Quincy, Ill, dispatches said selling of 16-ounce loaves at 5 cents | each began today At some retail stores there and in adjoining towns. Bear traders made much also of assertions that Canadian coarse grains were sub- Jected to competition from cheap Argentine corn and oats and cheap Russian and Daubian- barley. It was also stressed that corn kept at doubl the price of oats, as well as at a pre- mium over July wheat and very high compared with barley and rye. Provmom renected downturns in hogs. RICHFIELD OIL. NEW YORK, January 23 (#).—Form- ation of a .ommittee to represent and growct the interests of common stock=- olders of the Richfield Ofl Corporation of California, for which a receiver was appointed January 15, has been an- nounced. Philip de Ronde, president of Hiber« nia Trust Co, New York, is chairman of the committee, which also includes S. P. Woodward, president of S. P. Woodward & Co., Ine, New York in- vestment bankers. Harvey J. Carson, vice president of Foreman-State Bank & Trust Co. of Chicago, and C. B.' Reynolds, vice president of the National City Bank of Cleveland. A deposit agreement for the sh-res is now being prepared. Depositaries the Chatham Phenix National Bnnk & ‘Trust New York; Atlantic Na- tional Bank, Boston: Foreman-State Bank & Trust Co., Chicago, and Ni tional City Bank, Cléveland. —_——— C & 0. NET EARNINGS. | | | YORK, January n—cmmn x A IPRICES FOR FARM PRODUCTS LOWER Decline in Values Has Not Been Severe, Says Bu- reau’s Survey. ‘Trend of the wholesale produce mar- ket has been mostly dowaward since the middle of January, although price declines have not becr: severe, says the United States Department of Agricul- ture, Bureau of Agricultural Eco- nomics, Market News Service. Potato markets feel the effect of continued liberal shipments favored by a mild, ?en Winter in many producing sec- tlons. Ample supplies of onlons and cabbage are avallable from the large cropu produced and the price action been unsatisfactory to shippers mo-t of the season. Receipts of new Southern produce, especially strawber- ries and celery, are increasing with the progress of season. Among the few lines which have resisted the re- cent general tendency to slightly lower prices are sweet potatoes and apples. Potato Shipments Active. Shipments of potatoes continue active, sometimes reaching nearly 1,000 car- loads daily. Fully half of these are from Maine and the Rocky Mountain region and these seem likely to con- tinue leading sources of supply. Maine stock is prominent in the markets as far west as Detroit. Prices are begin- ning to feel the effects of accumulated shl ments and scattered declines of 5 0 cents per 100 pounds occurred the thlrd week of January. Demand is re- rted slow cr limited in most of the arge markets. From 2 to 12 cars of Canadian )!mhm" have been arriving daily at New York and Boston, also a few cars of this stock at Philadelphia. Selected Prince Edward Island Green Mountains have sold about 10 per cent higher than Maine stock in some mar- kets. Price of Maine Green Mounulm follows a %flflng range of $1.95 unds in Eastern cluu Detroit nd Cleveland, reaching top of 82 u in Washington. New York round whi pouwec sell at $1.75 to $1.90 in Ph"ldelph nd Pittsburgh. Markets in Eastern lucing sections are barely steady. New York are paying growers 73 cents bushel, which is a little above the &nce paid to producers in Northern Sweet Potatoes. potatoes are cne of the few lines l'eportln‘ light or limited suppiles and firm prices in the large markets. Delaware, Maryland and New Jersey s!ocl is ling at $1.25 to $2 per bushel in Eastern markets and some lpecm.y cured or packed stock brlnn 32 16 to $2.50. Eastern Shore Nancy Halls ad- vanced to $1.80 in Washington, New Jersey sweets were reported at $1.75 to $2.25 in New York. North Carclina Porto Ricos sold at $1.15 to $1.25 in four Eastern markets. Tennessze Nancy Halls touched top of $1.50 in several markets. Onion Market Depressed. Most of the large markets report rather poor demand for onions, while supplies continue moderate to liberal. The price tendency has been slowly downward for some time and the onion market continues about the weakest feature in the v!ruhle line. Eastern markets decltned slightly the third week in January with a range of 70 cents to 80 cents per 100 pounds ln ‘Western New York producing sections and best stozk nllln, at 81 to $1.25 in repres sentative city markets. A few lirge markets in the Bouth reporied this stock as high as 81 'm Onion shipments tend- ed to increase from Midwestern produc- sections, which are s aply ng t.he bulk of the current receipl to various trade reports, -lmut lo- c% carloads of onions are still avail- able, compared with shipments last year for the rest of the seeson of about 7,000 cars. Eastern supplies, nccoxdln‘ t0 trade estimates, inciude 4,000 to 5. cars in New York and 275 in Massachu- setts. ‘The scason may be prolonged & little because of presen: liteness of Texas orop, but plantings were large in that part of the ccunux. INot many im- orts of onions are likely becauss of ow prices and tariff restrictions. Cabbage Tending Lower. The greater part of the cabbage ceipts of Bastorn markets is from West ern and Central New York, ‘while most sales of bulk stock still hold at $13 r! ton, although the range of prices is $12 $13. The market has weakened slightly in Wisconsin since the middle of January and present range is $7 to $8 per ton. New York cabbage has declined $1 to $2 per ton in city markets since thu middle of the month and follows a range of $18 to $22, although stock of luw-r gnde sold as low as $16 to $17 in Philadelp] Prices per 100 pounds ranged rmm 9C cents to $1.25. Demand for carrots is fully as dull as that for cnions and cabbag:. Good siged yellow stock in 100-pound bags sells at 75 cents to 80 cents per 100 pounds, sacked, in Western New York, and some medium sized carrots sold as low as 65 cents. Eastern celery growers are sizing up the season now closed as a time of heavy yleld and low prices. Many rowers recovered costs of luction and some dealers who bought for future sale lost money. Shipments from Western New York were about 1,600 cars in excess of last season’s output. Flor- ida shipments are increasing and the price tcnding downward. Apple Markets' Unchanged. Price chln,efl in the apple market have been of slight importance this month. The list shows about as many small gains as losses. Moderate sup- plies and fairly good demand were re- ported in large Eastern city markets the third week in January. Sales of New York Greenings—a leading line in the present market—ranged $1.25 to $1.40 per bushel, with some bln!l sales at $6 in Washington. stern: Green: brmlcht. $1.50 ings in Midwestern citi New York Melntosh bring to $1.60. $135 to $1.75 in Eastern markets. Sweet , 4.5085.00; parsnips, 1.25 tomatoes, orlflnlls. 3.50a4.00; peas, per dozen, 1.50: spinach, 1.00; Kkale, Mexk:o 45 -pound crates, 8.50. NEW YORK. January 23 (Special). — institution, announces the readmission Los Angeles and 8an Francisco, became the exchange. The election of Mr. and acth membershlp CHICAGD DAIRY MARKET. CHICAGO, January 23 (#).—Butter —Recelpts, 7,183 tubs: steady; prices unchanged. Eggs — Rereints, 11.189 cases; Pnsy extra firsts, 20'4a21; fresh m&;:d firsts, 19'5a20; ordinary firsts, s et 7 G 3,973,532 6,349, A1 MEkE fund-Appropriations. cludes Hocllnll' Valley. ion Statement of the Chesapeake & Ohio Raflway for December and 12 months compares os mllown:‘ ror op. sBur’ aft. chgs. | Twelve mos. 8ri.. 4 op. . e 42 tin- STOCK AND BO{VD AVERAGES By the Ass From Yesterday's § o Edition, STOCKS. 50 Industrials, 123.3 Rails. B Baldwins sold at $1.25 per bushel or a little higher in New York and Phila- delphia and at $1.50 in Pittsburg. Kings brought $1.25 to $1.50. Eastern Yorks in New York, Baltimore and Weshing ton sold at §1.50 to $1.76. Eastern |Staymans and Black Twigs followed a jobbing range of $1.25 to $1.75. A im- ted number of apple sales for export were reported in New York producing sections at $3.75 per barrel for stand- ard grade Greenings and $4.50 for Baldwins. Greenings. bushel packed, broulht $1.25 to $1.35 r bushel in le Rochester district, general mar- ket conditions were practically un- changed in that section. NEW YORK COTTON NEW YORK, January 23 (Special),— The cotton market was stcady at the Sentiment was heiped by uu Bureau report sho c £ l 14.110.” on January 15, 13,888,97: lo(:genml prices were: Jani July, 10. “ up“r i0,1;&;*!5!!’, ll lG. rior m January 16, louled 13,602,104 xclug ‘compa with linters, 1930, and 2 on January xu. lll.. ‘The verponx market Was quiet J-nnny new, m.a “polt. December, ‘1134, COTTON mxmo REPORT.