Evening Star Newspaper, February 10, 1931, Page 14

FINANCIAL. NEW YORK STOCK EXCHANGE Received by Private Wire Direct to’ The Star Offiee. OPINION ON STOCK TREND IS DIVIDED Sudden Advance and Expan- sion of Trading Recalls 1929 Market. BY JOHN F. SINCLAIR. Special Dispateh o The Star. NEW YORK, PFebruary 10.—It looked like old times yesterday in Wall street. ‘The Stock Exchange, with a turnover of 4,100,000 shares, enjoyed the largest trading day since December 17, when 5,000,000 shares changed hands. But there was this difference: Yesterday the prices rose briskly, while in De- cember stocks reached new lows on & b-r m-rm )lot:drl mld‘? |! new ll:llh of 3 u 2% ints; . Steel com- w/. Dlosea Tt 148%, 3 points ; Auburn Automobile was up 183 u. cl at 1141‘ o Tircond % points, closing af Y, N 14 points, closing at 99%. Dow-Jones averages for indus- tflu stocks was up 4.82 points. Every- looked happy—all leun. and they never look happy, even when stocks go down. Has the long-awaited stock market rise actually Bqun: Many belleve it hn Others are not so sure, The Brookmire Economic Service does not_think so—yet. It says “Tt is becomi muuuly evident that the nnmlu business situation does not yet justify broad advance common _stock common stocks can confidence a nm; later. Continue to maintain cash reserves!” 8o there you are! Take your choice. Crude Oll Imports. Last year 62,000,000 barrels of crude ‘were ported into the United States, nnfl.ly from Venesuela and Co- per-Garber bill is res would be cut i # . l it world-wide wfl repl very frankly, do not even know the ny to the way That statement is like a dash of cold water, which is-both shocking and re- for its candor. of employment, says Julus H. ehairman of the Board of the gis !E"a' o g 2F 2 .Egi i (Continued From Page 13.) ~Prev. 1031~ Ml mu High. Low. Dividen: 110!( 107 Kresge (Bl) Bf ('I).. 80- nuv. 46 Kress (8 H) (1) ”lfi 20% Kreuger & T (a! 28% 18 Kroger Groe&Blk(l) 5‘ 85% T7% Lambert Co (8) 33 11 Lane Bryant (2). Low. 110 5 Lehn & Fink (3)....: 11 Lib Ow Ford Glass.. 6 Liggett & Myer (15). 4 Ligk & Myers B (15). 16 Lima Locomot (m2 5 Link Belt (2.40)... Ludium Steel. . MeCall Corp (2%)... Mclntyre Pore M (1) 10 Mad Sq Gai Jen Magma Copper Soanvetlenaan » -3 Mandel Brothers Man Elev mod Mg & Marlin Rockwell (t4) Marmon Motor Car. . Marshall Field (23%) 4 Mathieson Alkall (n Mathieson pf (7). 0% May Dept Strs (2’,) Mavtag ll Mengel Co........ Mexican Seaboard. Miami Copper. . Mid-Cont Pet (2). Midland Steel (3) Minn Moline Pow. Minn & St Louis. .. MStP&SSM...... Mo Kan & Tex (a3).. Mo Kan & Tex pf (7) Missour! Pacific. ... Missour! Pae pf (5) Mohawk Carpet..... Monsanto Ch (£13). Montgomery Ward. . Morrell & Co (4.40) Mother L 5 Motor Meter G & BI. Motor Products (2).. Motor Wheel 13). Mullins Mfg Mullins Mfg pt (1) Murray Corp. . Nash Motors (4).... $0c) Nat Bellas Hess pf. Nat Biscuit (2.80).. Cash Reg A (3). Dist Prod (2)... Enam & Stamp. . Nat Steel (2). Nat Supply (5) Nat Supply pf (7).. Nat Surety (5). Naut Tea (1).. Nelsner Bros (1. Nevada Copper (1 ) B Newport Co (1).. Norf & West pf (4).. 60s North Am Aviation.. 48 Nor Am (b10% stk). 121 North Amerpf (3).. 2 North AmEApf (§). 3 Northern Pacifie (5). Norwalk Tire & Rub, Ohio Oil (1). % Oliver Farm !“fi !I Oppenhelm Col (3).. Otis Elevator (2%). ll’fl( l!l“ Otis Elev pf (8). 1 15% 10 OtisSteel....... 50 45% Pacific Gas & EI u 58% 50% Pacific Lightin 126% 116% Pacific Tel & T 10% 1% Park Utah. 3 Parmelee Tra: 1% Pathe Exchan % 12% Phillips Pet (2)... 70 Phoenix Hos pf (7) 19 Pierce-Arrow A (3).. % Pilerce Oll. . 9 Pierce Oil pf. 1% Plerce Petroim (16¢) 26 Pillsbury Flour (2).. 31% Pirelll Italy (a3.14). 2 84% Pitts Steel pf (7) 60 Pitts& W Va (6).. 13 Pitts United Corp. 8% Poor & Co (B). 16 Porto Ric Am T(. A)k 26 Postal T&Cpf ('l) . 12% Prairie Oil & Gas (2) 17% Prairie Pips L (15).., 4 Pressed Steel Car. 63 Proct & Gamb (2.40) 7 70% 107 Proc & Gamb pf (5). lol llfl 2% Prod & Refiners. 72 PubSvNJ (3.40). 95 PubSv NJpf(5). 109% Pub Sv NJpf (8). 49% Pullman Corp (4). 10 54 Reo Motor Car (8001 12 Republic Steel. . 29% Republic Steel pf. 7% Revere Copper & Br. ( 28% Rhine W El P(a2. 14) 2% Richfield O1l. . . 59 Olose. 110 Prev Close. 110% 324 27 Rit Dent Mg (2% 23% 16% Rossia Insur (2.20).. 37% Royal Dutch m1.3404 38% Safeway Stores (l).. 86 Safeway pf (6), 98 Safeway Strs pf (7). llDl 24% St Joseph Ld (2) 48 St L-San Fran ( 63% St L-San Fran pf (.) 3 8 ll 008 Al . 4 Schuite Retail Strs. % Seaboard Air Line, - o T 68 Shell Un Oil pf (5%) 4% Shubert Thes 14% Simmons Co. . 7% Simms Petroleum. 104 Sinclair Con Ofl (1).. 815 Skelly Oil..... Skelly Oil pf () Sniaer Packing Snider Packing pf. Hou ¥ Ric Sug (1.40). South Cal Kd,(2) South Dairies B. South Pacific (8) South Ry (8).. South Ry pf (5).....3608 South Ry M&U ct (4) Spalding (A G) (2). Sparks Withing (1).. Spencer Kellog (80c) Spicer Mfg.. Splegel-May-Stern. . Stand Brands (1.20) . Stand Brands pt (7). Stand Comel Tob. ... Stand G & K (3%)... Stand invest Corp. .. Stand Oil Cal (W2%). Stand Oil Exp pf (5). Stand il of Kun (1), Stund OILN J (12). .. Stand Ol N ¥ (1.60). Starrett (LS) (12%), Sterling Sec A....... Steri See pf (1:20) Sterl Sec cv pf (3) - umnRon-REeSreitceSonlanonraans ory Y S = = TenanBnnZarns Webster (4). Studebaker Cppf (7) Sun Oft (11). Sun OIl pt (8). Superheater (2%) Superior O11, Superior Stee! Sweets of Al Telautograph (1.40). Tennessee Corp(suc) us Corp (3). Thatcher Mg (1.6v). The Fair (2.40). Thermoid Co 'Umkon Det Ax (3v¢) Timken Koller (4)... Tobacco FProducts. .. ‘'obucco F'rod A 195¢. Twin City RT p£ (7) Ulen & Co (1.60).... Und-Eihot-Fish (5). 26 Und Ell-Fisch pt (7) 2008 Union Bag & Paper., 2 Unt Carbide (2.60)... 200 UnOilofCal (2).... 17 Un Pacific (10). Un Pacific pt (4) Un TankCar (1.60).. Unit Atrcraft. .. 5 % 2z 52y Unit Atreraft pt (3). 1 Unit Cig Strs pf (6). United Corporatio; Unit Corp pt (3).. Unit Dyewood. . Unit Electric Coal Unit Fruit (4).. Unit G & Im (1.20).. 106 Unit G & im pf (5).. o Unit Piece D W (2).. U 8 & For Secur..... U 8 & For Sec pt (6). U 8 Freight. ... U 8 indus Alco (§) U 8 Leather. . USPipe& F (2) SP&F 1st (1. 20)-. S Realty & im (3). 8 Rubber. .. 8 Rubber 1st pf. s!mhxclpxufi. U 8 Steel (7).... U 8 Steel pf (7). U 8 Tobacco (4) U u U u U Univ Pic 18t pf (8).. m- Univ Pipe & Rad Utll P&L A (et2. I).. IZ Vadasco Sales Corp. 2 Vanadium Corp (3 Va-Car Chem. .. 1 Va-Car Chem 6% pf.. 1 Va Car Chem pt (7).. 2 Va El & FPow pt (6).. 10s Vulean Det (4). w-bun RR. erd Baking B. Warner Bros Pic r Quinlan. Warren Bros (3) War Broscv pt (3). Warren Fdy & P (2). 2 Webster Eisenlohr.. 2 Oil& Snow (2) 3 PaElA (7).... 208 Pa Pow pt (7). 208 Motors (2). White Rock MS 14 White Sewing Mach. 66% Wrigley (Wm) (4 26 Yale & Towne (2) 9% Yellow Truck. 22% Youngs Spring ( 4% 2% Zenith Radio. RIG) 2% 2 PacGas&El.Marll 59 Sales of Stocks on New York Exchange. l..lfl AM. m Paid this 3 14% 6% _ 122 108 63% 24% 200 36 23% 28l 53% 9% Mh ll 123 26% 202 6 24 314 2% secumy sm. the annual cash | e T stock. "d Payable when tock, 4 lr;uuhumu.ll. BONDS ARE QUIET —2=| INFIRMER TREND 41" |Prime Issues Continue to Re- “flect Growth of Invest- ment Demand. 100 EbK 2% 4% BY F. H. RICHARDSON. 1'0: Special Dispatch to The Star. NEW YORK, February 10.—After an 5.,/. active opening, with prices steady, the +74 | bond market today lapsed into a period “|of quiet trading. Prices were firm to 7% | fractionally higher all around. 1214 | 1ssues reflected an undiminished demand ‘”‘ from investing institutions, while junior 2614 | bonds sensitive to earnings and con- 94, | vertibles that follow equity fluctuations mirrored the strong advance of stocks. UNITED STATES. (Sales are in $1.000.) Bales. High. Low. ' Close. 43 101 28:101 24 101 28 5 10228 10228 10228 117 108 26 103 23 103 25 10 10219 10219 10219 3 102 25 10225 mns « 151 1063 1062 1062 8'52... 6 1124 1122 1124 FINANCIAL [ o= BONDS o seona] Recelved by Private Wire Direct to The Star Ofice Sales. Pan-Am Pet 65 '34.. Il Paramount ¢s Pathe Exch 78 '37 Phila Co 5n'67 Phila & Read ll 9 Phila Pet 51,5 ‘39 Pillsb ' M 65'43.,. “ 100% 81% 88% 105% Té% 102% 102% 1% 7% | Rich Ofl cal 6; 44 tra Austria 1843, Bk of Chile 6% 8 '67 Bk of Chile 6% s 61 Prime | B ‘With the exceptions of Australian and | o ta Bollvhn bonds, the !mh-n department iced firmness, Money rates 'm ‘unchas inged. nknlnc-nt feature of the past has been the failure of new 4% |financing to come onto the market. 12 | That there is & tremendous amount of 144 [ bond offerings awaiting suitable condi- 49% | tlon is common knowledge. The market has exhibited & strong tone for several 106 | consecutive sessions, yet the new offer- 64 |ings are withheld. Dealers blame this 817 | hesitancy on the part of borrowers to 1% | Congress will @ with the acheme. o 10% | cash soldiers’ bonus certificates. Today’s 1034 | offerings amounted to less than $5,000,~ 14 |000. 3 18 Meanwhile new .issues still undk— 187 | tributed are moving faster, 120% mnmclpnh In the latter case '.hm 2% | has been s daily marking up of prices 69 |since last Wednesday. Jersey City to- 4 |day secured & bid of par plus a cash 501 | Premium of $4,800 on $4,800,000 of 31, the still existing uncertainty as to what | C! Buoa e praRlanes Denmark 438 '62.. 24 Denmark 6s "42. Dutch East I 6: Flat 7s ex war "48. . t 1031; | Per cent bonds' due 1932 to 1934, White| " 161, | Plains, N. Y, sold $976,000 of 3.90 4vs | per cent bonds due serially 1934 to | S 25% | 1954 at 100.215. These are accurate 28% | measures of the current market for & |such bonds. "% United States Government long-term 36% |issues and other investment issues 16% | listed on the stock exchange were firm 413 | today. With most of the legal group 22 |selling close to their best prices of the 116 40% | in transactions at unchanged 104% | levels T‘Lfi’e ‘ere small gains in Ameri- 404 | can Telephone 5'/;.! and 5s, Baltimore & 1% | Ohio 4s and 4 Brooklyn-Manhattan #% | Transit 6s, Canadian Pacific 4!,s, Rock 13 |Island 4s, Columbia Gas 5s, Duqueme Light 4%%s, National Dllry 5%s and Standard Oil of New Jersey 5s. ‘The influence of a rising stock mar- ket was more directly felt in junior issues. Consolidation Coal of Maryland 5s added another point to Monda; 3-point advance. National Radiator o::’ which ; e{“"h ";: l’;‘t‘:flm has occurred, were 2}, poln er. This was attributed to the Dfl:tul of re- organization plans. Second-grade rails had substantial gains and most of them ‘t"x :;{un. around their highest levels o Foreign dollar credits were led up- ward by German issues. The of approval of theé participation of French nnm.hmwmlwcn?r the lflmulul Young Plan 51,8 Repa; ed ‘tractionally 1o i Dew 1031 "ove. O Europeans ¥ Other ‘were Australian bonds di 1 to 3 points following the ultimatum issued to the Canberra government by Premier lA.n, of New South Wales, in which avored cutting of Inletut rates and abandonment of id l-nd London nmn( lw 'n d s Washmgton %tock Exchange 25;: vamu: ll!flrlc 5%% pfd.—2 at 10915, 200 | Federal-American Co. pfd.—10 at 98%5. :f: Electric 5‘fi$ ptd. 5 at 110, 28% 14% 6748 e 107 64l 26 b 12z _ l Potomac 5 at 110, Aml CALL. ::huy 11000 &I‘W :‘l‘cooo t‘:’lm 3 o 3 whsninglon Ry & siteii pra-s i “A"—$1,000 at 102, $2,000 at 101 $1,000 at 102. Mergenthaler mnotm— 5 at 88Y,. UNLISTED DEPT. 30 | National Press Bldg. 5%48—$500 at 'Il. 100% | Notiee—This Exchange will 21w Thumuy next, Pebruary 132, uneolnl 9% 6% Bid and Asked Prices. 60% EEaEiRaiE }‘% A-or ln & Tr. ‘Trust (6) 14% anonll ICV & Trust (131). 313 | Erince Goorges Bk 1a14 | SRR Cton Loan 3 SAVINGS BANK. f Bethesda (8! ) mu Bommeree d Sags | ‘lll w Sz =§=I s EBs3EE i0) . - 858! 8= ¥ Fires National Unlon TITLE 1 ey e, Oo. e ‘comn MISCELLANEOUS. H lumbl, lumbia s’: SoalHa & itle & 8% Fas.zos5nnEss. 2 he, 'c-mx 1 Gorp .. l:om 1I m':-,: R deciarations. Pl in W Ssp.vs 6% in noeL in FURTHER IMPROVEMENT i 2% extr ‘éol:“l;uud. 3% exira. extr 37 "extin. 4% extra. year, the demand was evidenced chiefly 7 3| Norway 5%s 52 Hol-Am ss £ 6. Italy 78 '51 pal %s'54.. 1 Jugosl Bank 7s '57.. Karstadt 6s°43. ... Kreug & Toll 8445 121 - Lyons 6s'34. ., . 15 Milan 6%s 52, . 1 Netherlands 6s'72. New S Wales 65 '57 New S W 58 Norway Norway 6s Norway Norway Orient Orient dev Paris-Ly M Plrll-Ly hl 78°58.. Peru 6: Peru 6s '(1 PSP Poland 8$s ‘50 Queenland Queenland auBnion o aamause B Rome 6% °52. ROy D4s'45 ww... 44 S0 Pau 78 '40 rets. 102 Sao Paulo 88 °50. ... 4 Serbs-Cr-81'75 '62. . 15 Serbs-Cr-S1 Shinyetsu 6% s '52 Soissons 6s ‘36 Swiss 5%s Toho El Pow 6 Tokio 55 '52 MISCELLANEOUS. Ab& Bt 5les'43.... Abitibi P & P 68 '53. Adams Exp 48 '4 Allegheny 55 *44 Allegheny s *49 Allis-Chalm 68°37,. Am Ag Ch 7%s 41. Am Beet Sug 6: Am Chain 6s 3. P 55 2030. G Ch 5% Bl Rerean At Ref deb 58 '37. Bell Tel Pa 63 B Bell Tel Pa 55 C "60. Beth Steel pm 5836 Beth St rf 58°42. .. Bush T Bldg 55 '60. Cert-td deb 5% s *48 Chile Cop db 58 '47. Colon Oil 68’38 102 108 112% 101% 108% 101% —nnol ConGN Y 5%s'45. Consum Pow 5 C Am 8Sug col 8 Denver Gas 55 '5 Det Ed G&R4 % Det Ed rf 6s B "40. . Dodge Br ¢l 06 104% 29 101% 101% 108% 89 Gen Cable § Gen St Cas Hil 'u. Gen Th Eq 65 40 Goodrich cv Good 18t 6%s ‘4 Goody'r Rub 58 '57. Humble Ofl 55 "37. . Hum O&R § I BT ist pt 101% 102% 105% 101% 5% Int T&T ev éY%s s Int T &T 6855, Kan C P&L 5 KanG&E ¢%s'80, Lackaw St 53 ‘50 Lac G St L 55 '34 Laclede 5%s D ‘60 Lautaro Nit 65 '54.. Y% 9514 Lou G & El 55 '52 104 104 McKes & R 53 101% 101% 02% | NY NH&H cv db 68 05% | NY O&W. mu'n. 1 79% -79% | Shell Un Oi1 Sinclair Ofl §%3'3! Sine O Tscv A 37 SineCrO5%s38.. Sine P 1 58 "4 SW Bell T 66 A StOIlN J 5846 StOINY 4% Tenn Cop 68 Tenn EL P 65 Tex Corp ev 68 °44. 104 Unit Drug ev 58 '53 s U S Rub 1at 554 Utah P AL ondt.. 2 Utll Pow 58 ‘59 ww. 26 Utll Pow 5%8'47.. 41 Vert Sug 1st 7s'42. 2 Walworth 106% 103% 100 95% 4 106% 100 9% T1% 103% 108 108% 102% 100% 4 Ygstn Sh&T 55°78. 12 1084 RAILROAD. Atchls 48 1905-56 n 96% Atchison gen 99% nlu 964 100 98 101% 9% 104% Bkiyn Un 1st BR& Pitt 4% Bush Ter con Can Nat 4% 555, Can Nat 58 July 105% 117 m% 87% 99 104% 103% ’19\ IMM 114 100 101% Can Nor 7s deb Can Pac deb 4! Cent of Ga 5% Cent Pac 454! T C B&Q 1st rf 5s CB&QIldv3s Chi & Eas I11 5851 HLE Chi M StP&P 5575 !1 Chi M & St P adj 55 208 Chi & NW con 4% Chi Rwys 58 27 Chi Un Sta 4% Ca W Ind §%s a2 Swl2 maon 101% 634 4 - Swo E2a%t Do mo w0 moRs Fond J&G 4%s '52.. GrtTrataneas. - 111% Grt Nor gen 7s°36.. HavEI Ry 5%s'51. Hud & M adj s '§' Hud & M rf 58’57, B 5 111 Cent 58 Int Rap Tr b Int Rap T Int Rap Tr . Int Rap Tr 7s'32 Int & Gr Nor 6s '53. Int & G Nad 6s°52. Kan CFtS&M s 3¢ Kan City Sou 3s 'Kan City Sou 6s Lake Shore 43 '31. . Peh o 103 1014 88% Mo Pac53%scv'4 N&T&MS5sB 54, NOT&M5%s 54, NYCgni%s'9T... 0 m 107 6% 66% 100 81 87% 105% T4% 102% 102% 1% 103% 99% V5% 106% 9% 9% Ti% 103% 108 108% 102% 100 45 102% 96% 9% 120 96 100 1% 101 964 104 106% 17 111 87% 9! 104 103% H!i “N 114 99% 101% 09 101% 60 45 l.l% IOI% I.l“ “h ll“ l“% 1m 102% Ny 99 105% 101% 105 NEW BOND 13SUES KEPT OFF MARKET ISponsors of Proposed Fi- nanoing Await Action on Bonus Question. uumy ‘common shares and & 1 iblic the fl-lM for pul 2 i H § | 105% | Wi n7 111 87% 99 104 103% 7% 97 104% 114 100 101% 97% 102% 108% 90% 44u 694 9 7% 32% 92% 1% 65% 3 9% 90% 93% 103% 104% 100% 104% 09 1 101% 634 47 9T% % 104% 85% 7 83% 111 105 56 95% 102% 101 88% 97 9% 934 1% ’5\‘ IIW 4% 95 n 85% 95% 106% 81 80 8% 86% 8 83% 82% 81% 821 110% 110% 110% 24% 24% 24% 26% 26% 26% 106% 106% 106% 111% 100% 101 105 56% 95% 103 101% 88% 1 IW% 1m 100% 85% 96% 107 107% 107% 101% IM* 101% 101'/. NY NH&H 45 '55. NYNH&H db 48 '57. NY NH&H 4%s'67. NY NH&H clt NY Rys Inc % INY WaB 4%s Norf South 63 2 12 10 ” 4 15 20 jor Pac ri 65 2047.. Ore Short L 5s gtd Oreg-Wash 48 '61.. Penn cv 4% 60, Pe 12 108 95 nz 108 4% 864 7 MUK % 94 116% 115% 116 105% 105% 105% 2 4% 43 43 12 108 106% 106% 105% 100 101% 101% 101% 954 96% 96% | Tex & Ark 5% s "5t 107% 107% 107% [ Tex & Pac 58 C 9% poration increased uary to a total of 4,132,351 tons ary 31. In December an 303,960 tons was reported. ‘The as of December 31, B N T —Czechoslovakia ot 44 Seg g DOOBOOOOO m DORLOD DOOOKD: DHOOO &) ?‘li‘f B moeBBuncgmm w1 i 5 5 ,... ;EEo?'. 8 ’§ gEERL ¥ B [P Deferred. Sou New Eng Ted 7% pf...$178 Q Dee. 1 194 94 94 12 105% 105% 105% 4 98 98N 98% Sou Ry M&O 48 '38. 9% 99% !Nlflmu ou Pprices du.rln:lym -1?,95 "exti :‘fv.:"gi-. past six woah has been eliminated. U. 8. TREASURY BALANCE. By the Associated Press. 2 = fl. depend on the attitude of the short in- | dragging m points. mmmml terest and how far the public is willing 83% 82 834 }Dl% }01!6 }01“ IN. STOCKS INDICATED ol ol Special Dispateh to The Star. to follow up s rise. Undoubtedly there m mmm From the | will be considerable profit-taking as nu- technical standpoint the -Annu in the | merous from the i 1 106% 106% 102% 102% . 984 934 81% 82 4% % 23 18, FRENCH IMPORTS DECLINE. shares show gains, ‘Treasury receipts for February 7 were market 1o & point well above the pre- | December 17 lows, or, from 10 to 20| PARIS, Pebruary 10 (#).—French im- “'"":" :::-:;Im EDerid vious ports in 1930 decreased by approxi- 726.04 $183,664,466 94, Cus- Malely $355,000320 i cotipariscn with tom recelpts fof the monih to the close Pebruary 7 Inflol.'.nulryi com- mends it for & further substantial im- when the 1029, Exports decreased approximately of business were §7,049,~ Tarket mnnunnmmm EN “m ’l{umldhnnnw rally in averages of between 8 and v