Evening Star Newspaper, February 11, 1931, Page 14

FINANCIA NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. INVESTMENT TRUST MOVEMENT GROWS Trading Corporation, Started in England, Has Made Re- markable Progress. By the Associated Press. NEW YORK, February 11.—A finan- clal snowball, started in England at the close of the American Civil War, has nthered up six billions of capital dur- ing its 66-year roll. Panics -nd depressions have wrought changes in the appearance of this glant—the investment trust—but even the plunge from the precipice in the Autumn of 1929 did not shatter the idea that is the nucleus of the move- ment. This, in brief, is the pooling of small ifvestors' resources so as to give the person of moderate means the ad- vantages of the large capitalist, through extensive diversification and distribu- tion of risk. Just now, the oldest and most numer- ous trusts—those of the management type—are counting the costs- of the great deflation and suffering from & public disfavor which followed their losses in asset value. The shrinkage, ‘however, annual reports for 1930 show, varied greatly, chiefly because of differ- ences in securities held and the skill of managements in anticipating market trends. Extent of Losses. h earnings and condition state- m::‘g“;“ btengspuhllshed to_indicate that the lvem!e asset loss suffered by the larger . management trusts was slightly ess than 25 per cent, whereas the decline during 1930 in the 90 com- mon stocks used in the Standard Sta- tistics Co.’s index was 28.5 per cent. Part of the difference is accounted for by the fact that the trusts added bonds and preferred stocks to their portfolios. The most notable change in the in- vestment trust field has been the growth of the fixed trust. Whereas the man- mment of the other type has the right to buy and sell as it sees it, the spon- sors of t‘heh_l'lxeg1 t‘rtuxt are strictly lim- in their activity. ‘u'g'he investment portfolio is confined to & comparatively small number of securities, mostly prominent common stocks, and the list cannot be changed except under specific conditions named in the indenture. The fixed. trust gets its income from the dividends on its mAl:xg)ugh this lorm of trust l'nlde its debut in 1924, its greatest growth has been in the last year, or since the 1920 stock market crash. Scores of tl investment companies were orgal in 1930, until '.Mflr“numbe:a;:ml ok nd 100, representing a abott 000, 000"000 So rapid has been ed trust esentatives to perf mornnlnnonrwt; handle their mutual problems. Trust Purchasing Large. Wall Street is particularly interested in one aspect of this movement. As the fixed trusts multiply and grow participate more actively .in the stock market to add to their portfolios, since for each unit of their own securities they must have a supporting’ unit of common equities. The securities bought the trusts are purchased outright and taken out of the market. the volume of this business has become iderable. management trusis trace their descent to the Foreign & Colonial Trust, formed in England in 1865. From this pioneer has sprung a long line of companies, many of which, particularly those in this country, differ substanti- ally from their ancestor in scope of operations. ‘The mushroom rise of trusts in the United States was a feature of the bull market. On the strength of that wild speculative wave investment companies of many forms_ g&re put out in large numbers and gn inyestors poured u,m.ooo.ooo pital into Cheh' -ecurmu,tmmwy to-October, 1929. Butter—One-pound prints, 33a34; tub, 82133, Eggs—Hennery, 21a22; current re- ceipts, 19a20. Poultry, alive—Turkeys, young, 35a 36; old, 30a32; Winter chickens, 28a30; Spring broilers, 33a35; hens, largs, 18a 20; small, 16a17: Leghorns, 15; roosters, 13; duch 15; keats, large and young. 60a65; 25a30. -Turkeys, young, 40M2 old, 35a36; Winter chick- ens, 33; Leghorns, 18: Spring broilers, 45; hens, heavy, 22a23; small, 20a21; capons, large, 37a3! 32a33: ducks, 24a25; roosters, 15; keats, young, 70a80; old, 40a45. Meats—Fresh killed, beef, 14a22; veal, 18a21; lamb, 21; pork loins, 18a20; fresh hams, 20: fresh shoulders, 14; smoked hams, 22a24: smoked shoulders, 13a14; strip bacon, 23a34, lard, in bulk, 9%a10; in packages, 10a10'; Lhe ‘stock—Calves, 10.00; lambs, 8.00; ogs. heavy, 7.00a7.50; medium and u;m 8.0028.40. Fruits—Strawberries, 45: honeydews, Chile, 3.00a3.50; oranges, Florida, 2.75a 3.75; California, 3.00a4.50; lemons, 3.50a 5.00; tangerines, 1.75a2.25; gra - perors, kegs, 5.00: apples, bushel ts, 1.00a2.00: box stock, 2.00a3.00' TS, box stock, 3.50a3.75: cranberries, 25- mmd box, 350 pineapples, 4.00a4.50; es, per 100, 2.00. vneubles—muwu 1sn-pound ok 3.25; new potatoss, Florida, 2.00a2.5 mostly 2.50; Idaho bakers, 100 po d 2.75: sweets, per ‘bushel, 1.50a2.00; caulifiower, 2.25; string beans, 3.00a 5.00; eggplant, Cuba, 4.50; peppers, 3.00a 3.50; broccoli, 3.00a3.25; cabbage, new, per hamper, 1,50:1,75; 90-pound sacks, 1.25; old, per sack, 125a1.50; 1et!uce, ll‘!be\'s 3.00a3.50; P’lorldl per ham, 75a1.00; squash, per cucumbers, Florida, r_dozen, 1.2581.50; toma- , T2 size, 3.25a3.50; peas, blrre] hot house, toes, repa 3.5023.75. DIVIDENDS DECLARED NEW YORK, February 11 (#).— luuln-. Pay- Rate.riod, ale. kmc‘r Britlin & cont pi st Am Cap G5 ur HaTy Hidrs. of record. Atlastic” Sec i Bigelow Co sc Chicago Tnvest i " 75 Fot ‘Nav 8irs 1913175 Do, Bee B, 130 I Pow 7% bf’ A 1% ‘cu B 8Tie n Pw & Lt pf 3193 ntercnt Br 37.pi 4178 Kellze (8914 ans. 30 * pooo nnnonnonooooonmomnnoo Holland Land .. Am Becurity Shares.8¢ 3 Champ Coat Paper..s2 Reduced. E: Laundry Mach.75¢ . iden Mig 2 “oorv.. it Q (Continued From Page ~Prev. 1931~ Stock and nm- Low. Dividend Rate. 18 Kroger Groc&Bak(1) T7% Lambert Co (8)..... Lane Bryant (2). 13% Leh Port Cmt (1) 6% ?-h Valley Coal eh lfi\fi 24 Lehn & Fink (3) 11% Lib Ow Ford Gl 87 Liggett & Myer ( 83 Lick & Myers B (15)" 23% Lima Locomot (m2). 28% Link Belt (2.40)..... 41% Liquid Carbonfc (4). 454 Loew's Inc (3). 2% Loft lm: 52% 43% Loose-W ). 155 118" Toote-Wiles it (1)- 108 15% 11% Loriliard (F) Co. 31 8% Louisiana Ofl. . 27 LouG&EA (1%). 90% Louis & Nash (7) 11 Ludlum Steel....... 20% McIntyre Pore M (1) T1% McKeesp T P (143%). 13 McKesson & Rob (1) 31 McKes&Rpf (3%) 7 McLellan Stores. 85% Mack Trucks (4). 88 Macy & Co (nt3). 5 Mad Sq Garden (60c 20% Magma Copper (3).. 11 1 2 82% Man Elev mod & (da) 7% Manhat Shirt (1).. 214 Maracaibo Ol Exp. . 19% Marine Mid (1.20)... 28 Marlin Rockwell (14) 5% Marmon Motor Car. . 23% Marshall Field (23) 231 Mathieson Alkall (2) 120 Mathieson pf (7).... 20% May Dept Strs (2%). 5% Mavtaz Co. 29 Melville Shoe (2)... 6 Mengel Co. .. .o 25% Met-Gold nf (1.89).. 10% Mexican Seaboard. 7% Miami Copi 1315 Mid-Cont Pet 21 Midland Steel (3) 85 Midland Steel pf (8). 4% Minn Moline Pow... 15 Minn & St Louls 8% MStP&SSM. 20 Mo Kan & Tex (a3)! 70 Mo Kan & Tex pf ('l) 30% Missourl Pacific. 86% Missour! Pac pf (i) . 10% Mohawk Carpet. . 20 Monsanto Ch (=1%). 15% Montgomery Ward.. 30! 51 Morrell & Co (4.40) 1% Mother Lode. 30 Motor Products (2).. 4 T% Motor Wheel 113). 1 8% Mullins Mfg. . 1 36 Mullins Mfg rvf m 11% Murray Corp.. 30 Myer (FE) &Br(2). 274 Nash Motors (4). 714 Nat Acme (80c) 3% Nat Bella Hes: 17 Nat Bellas He: Biscuit (280 l'ts 1 4 14% Newton Steel. . 113 N Y Central (8) 77% NY Chi & St L ( 165 N Y & Harlem (5) 10% N Y Invest (120)... 75 N YN H & Hart (6). uo NYNH&Hpf(T).. 3 Railwayspf..., 2 100 Y Steam pf (6)....100s 111 N Y Steam 1st pf )" 90m 6 Norfolk & Southern. % 58 N . 102 North Am Ed pf (6) 47% Northern Pacific (5). 43 Northwest Tel (3).. % Norwalk Tire & Rub. 15% Ohio OIl (1) 3% Oliver Farm Eq new. 18% Oliv Farm Eq pr vt.. 3% Omnibus Corp. . 54 Otis Elevator (235). 124% Otis Elev pf (6)..... 50n 10 Otis Steel. ... .ee 10 69% Otis Steel prpf (7).. 20s 33% Owens 111 Glass (3).. 1 8 Pacific Coast 15t pf.. 208 45% Pacific Gas& £ (2). 37 50% Pacific Liehting (3). 32 16% Pacific Mills. l 116% Pacific Tel & ). 4 8% Pack Mot Car (80¢). 82 Pan-Am Petrol B 2% Panhandle P & R 86% Paramount Pub (4). 113 Park Utah 2 Parmelee Transport. 1% PatheSxcharge. .. Pathe Exchange A. .. Peerless Motor Car. 37% Penick & Ford (1)... 28 Penney (J C) (3) 314 Penn Dixie Cement. 17 Penn Dixie Cmt pf.. 55% Penn RR.(4). 2“ 200% Peop Gas Ch (3).. 17% 16% Pet Milk (13). 1 1 33 s 2!0 3 24 24 3 1 T% Phil Read C & 1 9 Philip Mor & Co 12% Phillips Pet (2) 1% Pierce Petroim (16¢) 26 Pillsbury Flour (2).. 67% Pittsburgh Coal pf.. 14 Piti 43% Pit 13 Pitts United Corp. 60 Pitts& W Va (6) 8% Pour & Co (B). 16 Porto Ric Am T(A). 4% P R Am Tob B. . 25 Postal T & C pf (1).. 12 Prairie Oll & Gas (2) 17% Prairie Pipe L (15).. 4 Pressed Steel Car. .. 63 Proct & Gamb (2.40) 72 PubSvNJ(3.40)... 95 PubSv N Jpf(5). 115 109% PubSv NJ pf (6). 130% 128% PubSvNJpf(7)... 110% 109% PubSvE &G pf (6). 58 49% Pullman Corp (4)... 2 % Punta Alegre Sugar. 11% 8% PureOil . 101% 95% Pure Ol 38 Purity Bakeri 12 Radlo Corp.. 48 Radio Corppf A(3% 34% Radio Corp B (5).. 16% Radio-Kelth-Orph A. 129 18% Raybestos Man 2.60. 15 79 Reading Ry (4). 25 Real Stk Hos (3). 11 Reis (R) & Co 1st pf 1000. 15% Rem Rand (1.60).... 1 84 Reo Motor Car (80c) 8 Reo Motor ctf (80c). 12 Republic Stee 29 Republic St 7% Revere Copj 11% Reynolds Metals (2) 70 Reynolds Tob A (3). 40% Reynolds Tob B (3). 2% Richfield 5% Rio Gran 184 Rossia Insur (2 20). 37% Royal Dutch m1.3404 30 Rutland p! 38% Safeway Stores (l) 86 Safeway pf($)..... E 3 - =P T PRI PISPRWINS < OmmmoaaS 13; 11 5 Y oS RS 408 36 19 2 2 6 1 26 108 Ada 00, High. 8 28 817 24 24% 56 40 85 9% 8215 80% 37w 465 44y 28% 27T% 27 128% 128% 140 39 114 8 T4 £41 81 5415 53% 104% 104% 59% 58 4“ 191 56 126% 1265 W% 14 60 60 ¥8% 384 10 49 63 ~Prev., 1931~ 13.) Tigh, w. 101 43 StL-Sa 1 3% Second 40 Second 10 12 Sharon 7% Simms 0% 110% 110% T 17 215 95 Sinclair 22'4 80 14% 22% 804 14% 84% 9 40% 23 34 Spaldin 25 Spang: 8% Sparks 35 105 214 22% 27% 614 11y 2514 10 10% 57 45% 2244 11% Sweets 23% 23 56 15 4016 16% 10% 40 4% 18% 1% 40 33% 8% 6% 28 Ll 1 % "o 21% The Fai 105 4 5 35% i - 43 Timken 244 140 36% 9% 55% 22 179% 835 23 224 33% 18% 4 16% 4% 3 51% 27% 9814 23 T4 T 17 114 % % . U S Fre T 16% 5 5 19% 5% 54% 5% s 8 8 8 8 10 s 4T% SSm S Sty U S St L U U u u U U U u 5% 34 5 4% 6% 264 35% 4% 26% 6214 52": 244% 17 11 9% Va-Car x Vulean 9% 215 108 104 Stock and Dividend Rate. 98 Safeway Strs pl ™. 20- 102 24% St Joseph Ld (2) 28% 637% St L-San Fran pf (§) 23 St L Southwestern 104 Sinclair Con Ofl (1).. 844 Skelly Ofl. ... 29 Sloss Sheffield St p: 90% Solv Am pr ww 53%.. 12~ Sou P Rie Sug (1.40) 45% South Cal Ed 12) 4 South Dairi 92% South Pacific u) 47% South Ry (8). 70 South Ry M&O et (4) Unit Carbon (1). y( Corporation. €nit Co . Va El & Pow pt (6).. 80s Wabash RR. . Waldort Sys (13). . Walworth Co (2).... Ward Baking A’ Ward Baking B Warner Bros Pi Warner Quinlan. Warren Bros (3).... WASHINGTO. Bales— Add 00. High., Low. Close. Close. n Fran (8). T2% 4 Schulte Retall St 4Qs Schulte Retail pf 14 Seaboard Air Lin Seab Alr Line pf, . . 44% Sears Roebuck $2% .. NatInv.. Nat Inv pf. 1% Seneca Copper. 4% Servel Inc. .. Steel Hoop. .. Sharp & Dohme. . 221 Shattuek F G (11%). 7% Shell Union Oil. ... .. 58 Shell Un Oil pf (5%) 4% Shubert Theaters. 14% Simmons Co. Petroleum. 31 12%. 124 1 102% 102% 10 32 924 15% Oil pt (8) & (A G) (2). “halfant. .. ..280 Withing (1). 201 2% Spear & Co. 55 Spear & Co pt ( Spencer Kellog (80c) Spicer M{g. 5% Splegel- 16% Stand Brands (1.20). 118 Stand Brands pf (7). 2% Stand C 58 StandG&E (3%). Stand G & E pf (4) 2 Stand Invest Corp. 45% Stand O11 Cal (h2% _102% Stand Oil Exp pf (5 14% Stand Oil of Kan (1) tand OIl N J (12). tand OIl N Y (1.60). 211 Starrett (LS) (12%) 3 Sterling Sec A . 614 Sterl Sec pf (1.20)... 33 Sterl Seccv pt u)... 14% Stewart Warner. 37% Stone & Webster (4). 201 Studebaker (1.20) 3313 Superheater (2% % Superior Ol 6% Superior Steel... May-Stern 120\ 120’# 3% 8% 2% 69 61% 1% 4 4 ‘omcl Tob. . 60% 49% !MK 104 16% 50% of Amer (1)., 4% Symington A.. . 814 Tennessee Corp(50c) 30% Texas Corp (3).... 45% Tex Gulf Sulph (4) 4% Texas PC & Oil. 11% Texas Pac Land Tr.. 131 Thatgher Mfg (1.60). T 02.40) The Fair pf (7) 5 Thermoid Co 6% Third Avenue 18% Third Nat Invest. ... 11% Thompson Pr (2.40). Thompson Starrett. . 61 Tide Water As (60c). Tide Wat As pf (6).. 9% Timken Det Ax (30c) Roller (3)... 2%, Tobacco Products. 10%" Tobaceo Prod A t95¢ 11% Transamerica (1) 7% Transue & W (1) 6% Tri-Cont Corp. .. 92% Tri-Cont Corp pf 29% Trico Prod (234).... 9 TwinCity RTr (§4). 41% Twin City RT\pf (1) 4 51 Und-Elliot-Fish (5). 122% Und Eli- Fisch pf (7) Union Bag & Paper. . Un Carbide (2.60). U0l of Cal (2) zoz-, 2 1% 857 23% 30% 39 26% 5 22% rp Pt (3). Unit Electric Coal. Unit Fruit (4). Unit G & Im (1.20) Unit G & Im pf (5 Unit Piece D W ( U S Distributing. U S & For Secur. ight. . U 8 Gypsum (1.60) % U S Hoff: U S Indus Alco (6) U S Leather. 7 8 Leather A. Plpe & F (2 P &F 1st (1. Realty & Im (3). 'man. Rubber 1st pf. .. Smelt & Ref (1). 444 My 148% 145% 146% 1463 & Ref pf3t4. .. U S Tobaceo (4). Unit Stores A. Unit Stores pf (334). Univ Leat Tob (3)... Uniy Pic 1st pf (8) Univ Pipe & Rad. Utah Copper (8). Utll PEL A (e12.15 VadascoSales Corp.. 2T% 26% 16 1% 20 19 631 58% 21 224 2% 214 164 164 1034 1034 - 10508 61 59y 47 19% 18% 95 2% 24 13% B Chem 6% pf. 20s Det (4) 15 6% 64 679 18% 178 War Bros v pf (3) Warren Fdy & P (2). Webster Eisenlohr. . Wess O Wess O il & Snow (2) &Snpf (4).. West Pa B A (1) V\en PaElpf (1) West Pa Pow pf (6). West Pa Pow pf (7). Western Md. .. 106% 208 10714 107y 408 119% 116% 181 87 O - 8 200 18% 17y Western Pacific. .. Western Pacific pf Western Union (8) Westing A B (2)© Westing E& M (5) Westing E&M pf (5) 20s 112 2% 132% 132% 0% 110% 110% 6% 65 55% 1in 10% 98 4 18% 52% Rbl 20% 24 97% 29% 12% 16% "% 8% 19% 45 12% 184 4% 45% 5 T%h 22% 42 314 9% 90 Weston 14 10 98 46% 17% 52% Wil 54% v 974 Wright Youngs 2 30 AM... yl:lo P.M. hP) % T A Thls pemn oo Wrigley (Wm) (4). Yale & Towne (2)... Yellow Truck. . Pac Gas& El.Mar 11 59 Sales of Stocks on New York Exchange. 826 99% 109% Ellnstr (1). 12 26% 24% Wextark Radio Strs. White Motors (2). White Rock MS 1414 White Sewing Mach. Wiliys-Overland WillyssOver pf Wilson & Co. &CoA. Wilson & Co pf Woolworth (2.40). Worthington Pump. 67: 97% 9215 61 Aeronaut...100s 20 181 21- 2% Tl 1 20% 29 Spring (3. Zenith Radlo....... RIGHTS—EXPIRE. 24 2w 400,000 12:00° Noon. 8.400,000 o 2:10 P.M is 9% yabie in‘stoc k Plus 3% tn « @ Payable 'n '2“- 'Phu ‘ ln ll“k. regular rafe. ' lus 8% in stock. BILL TO LIMIT OIL IMPORTS IS FAVORED By the Associated Press. A Senate committee, by a vote of 9 to 6, has favorably reported the bill of Senator Capper of Kansas which pro- vides for the limiting of crude oil im- ports for the next three years to 16,- 000,000 barrels per year, prorated on 1928 impoits, and forbids imports of refined products. ‘The committee took no action on bills designed to place a tA.rLfl on the importation of oil. A hearing is scheduled by the House Ways and Means Committee on Febru- ' ary 12 for consideration of pending tariff and embargo bills. —— In Race for Treasurer. LYNCHBURG. Va. February 11 (Special). — Bernard H. Camden of Madison Heights has dnnounced his candidacy for Democratic nomination primary for ‘treasurer of Kmhesst Gounty, POTATO MARKET. CHICAGO, February 11 () (United States Department of Agricultuze).—Po- ! tatoes, ru:eiv'.l 17 cars; on traék, 170 g‘ cars; tofal United States shipments, 793; about steady; trading rather slow; sacked per /hundred-weight, Wisconsin round whites, 1.35a140; fancy shade higher; ungraded, 1.15a1.25; Minnesota, tes, 1.15a1.30; Idaho Russets, occasional car higher; NEW o2 | Silver, 275. GERMAN BONDLIST DROPS ON SELLING | Political Advices Cause Sud- den Liquidation—Domestic Issues Firm. BY F. H. RICHARDSON. Special Dispatch to The Sta NEW YORK, February 11.—Bond trading today was marked by the selling of German bonds on cable advices of a + | radical threat to the German govern- ment. ‘While Wall street was not inclined to ithink that the German extremists would succeed in setting up a “rump” parfia- ment, nervous holders of “Germany's dollar bonds, who still bear in mind the bad breaks in these issugs last year, liquidated in a moderately heavy fash- fon. Young Plan 5'3s dropped a point. Reparations 7s and other German de- scriptions had fractional declines. Domestic bonds were firm, with a number of new highs in prime railroad, industrial and public utility obligations. Gains in this group included American Telephone 5!%s, Atchison General 4s, Baltimore & Ohio first 4s, Brooklyn- Manhattan Transit 6s, Chesapeake Cor- poration 5s, Consolidated Gas 518, Gen- eral Motors Acceptance 6s, Great North- ern 7s, Grand Trunk 6s, Nickel Plate 416s, Philadelphia Co. 5s and thellng Steel 4!:s, Junior railroad bonds were ln nronur demand than in some week: e 5s, Missouri-Pacific 51;s, St. Paul Adjulb ments, St. Paul 5s, Chlc‘l.l) Great West- ern 4s, and other issues of a like rat- ing gained fractionally to over a point. These bonds are likely to follow the trend of their companion common stocks and their showing, tggether with the upturn in convertibles and stock option bonds, was attributable to the contin- ued advance of equities. Apart from German issues, foreign dollar bonds were quiet, with few im- portant price changes. Australian issues were still being sold «in volume, but prices, now around an 8150 9 per cent yleld basis, were fairly well held. Italian, French and Austrian bonds were ac- tively traded ll or near their best prices of the Chilean dollar cl’hdlh were fraction- ally higher. Reports were being freely cimfllufl that the $375,000,000 Chilean nitrate merger, for which arrangements have been under discussion in New York for several weeks, had been vir- tually consummated. The proposal in- cludes, it was understood today, the is- sue of $45,000,000 in bonds, of which $34,000,000 will be offered here and in London. Pablo Ramirez, he of the Chilean bankers’ delegation, led re- ports that the Chilean government would guarantee the loan. New bond offerings today amounted to nearly $15,000,000. Among them was a Jersey City issue of 3i;s, priced to yield 225 to 3.50 per cent, according to maturity. The low yields reflected the strong position of "the municipal market. It was significant of the close competition in bidding for these issues that the syndicate purchasing the bonds was ccmposed largely of some of the smaller underwriting houses. Lousi- ville Gas & Electric offered $6,000,000 of 41; per cent mortgage bonds at 97, to yleld 4.68 per cent, which is ll!(huy under the current ylelds on outstanding bonds of the same company. SILVER QUOTATIONS. YORK, February 11 (#).—Bar iWashington Stock Exchange SALES. Georgetown Gas 55—$500 at 104. w:s‘h.‘ Gas 55—$500 at 104';, $500 at | wash. Gas 6s—$100 at 101%, 1 Wi R.ln—nnw-nw.um 87%, $500 at 873 Cap. Tract. Co.—7 at 3! Amer. Sec. & Tr. Co.—2 at 335. Merch Tir. & Stge. pfd—5 at 95, 100 uerlen'-hnln Linotype—10 at 88%, 10 at 88 Natl. Mige. & Iov. pld—100 at 5, 200 at’s, 100 at 5, 100 at ATIER Cars, Pot. Elec. 5'zs pfd—5 at 1083, 10 at 108%, 6 at 108%, 1 at 108%, 10 at 109, 5 at 109, 4 109, 1 at 109, Wash. Gas 6s A—$100 at 101%. Mergenthaler Linotype—10 at 3 a’im Mtge. & Guar. pfd.—100 at Cap. Tract. Co.—10 at 38. Notice—This Exchange will closed tomorrow, Lincoln's E‘M{'thd‘ - Bid and Asked Prices. 55, % 5. Ter. o8 a- b5 } Capital Traction R. R. Gty Suburban 85 Georgetown Gas -1st Potomac ;,ylomu Eiec, Amer. Tel. & Tel, Capital_Traction ' Co. Wash. Gas Lispt Co. Norfolk & W A oo Wain. Rwy. & Bl Wash, Rwy. & Elec. pra- 2 o8% Capital (14) Riggs 52 90 ‘ashington (13). TRUST COMPANY. e SAVINGS BANK. Bank of Bethesda (6§) .. Gommerce & Savings ( (UM W‘:mlnlwn ‘Mechanics (20" FIRE INSURANCE. E g28iaulic o 888! s (8 Union {185 TITLE INSURANCE. 8o 88, 5 & 25558850 & EEEHINTE s3a202 ve 5 “’%ma B 1:“12:«. FINANC [ oN NEV YORK BOND :3 by Private Wire UNITED STATES. (Baes are in $1.000.) High. Low. l 10127 101 24 6 10231 10228 268 10330 108 24 US3%s'43.., 110219 10216 US3%s'47..4 5 10224 10222 5 105 28 107 28 1123 11128 FOREIGN. Sales. m-n. 2 12 us UB4%s'52.. Low. Close. Argentine May '61. 9L Argentine 53%s Argentine 63 Ju '59. Argentine 6s Oc '59. Argentine 68 A ‘57, Argentine 6= B'58.. Australia 4%s ‘56 Australia 58 '55 881 20% 1Y% Belglum 6 Belglum 63849, Belglum 78 '55 Belglum 7 Bolivar 78 5 Bolivia 78 ctfs Bolivia 85°45. Brazil 6% ‘26 Brazil l%- 27 Brazil Brasil 8s 41 Bremen 75 '35 % 94t 94N (‘opunh-gcua'sl . 52 100 99% 9 Copenhag Cuba 5%s°45. Czecho 98°52. 8% 8% 110% 110% 110% 95% 95% 95% 101% 101% 1014 106 105% 105% 102% 101% 102% 102 102 102 - 87 87 87 81% 814 1 Dutch East I 6s 'lz. Fiat 7s ex war '46 Finland 5%48°'58.... Finland 6s'45. . Finland 7s ‘50 French Gvt 1% Gelsenk’chen 65 '34 11 German 5%s65...230 G rman Bk 6s 3! Grt k 68 "6 Hait! 65°52. Hol-Am ss £ Hungary 7%, Irish Free St 5 'co Italy 78 '51... Italy Pub Sv 78 '52. Japanese B%I ‘l. . Japane: Jugosl Blnk s 'i1 Karstadt 6s°43. Kreug & Toll 58 ‘59 Lyons 6s'34. Marsetlle s34 Mex 45 asstd 1910. . Milan 6%5s '52 Montevideo 8; Montevideo Netherlands 6s ‘72, New S Wales 65 '57 New S Wales 65 '58 Nord 6%s'50. Norway 55 ‘63 Norway 5% Norway 6 *43 Norway 6s 44 Norway 6852 Orient dev 535 '58. Orfent dev 6s '53. 126% 126% o 90% 'll% 7“0 182% lfll"/fi 86% - ake 964 M 65 65 102 102 1034 102% 99 98% 91 90% 944 934 104% 104% 82 8% i e wad BRo wna 67 67 9% 9% 1043%,104% 104% 104% ™ 7% 864 A% 8% 8% & 85 105% 105% 621 624 62 61 106% 106% 101% 101 103% 103 106% 105% 106 1054 102% 102% 92 1% 8% 98 104% 104% 107% 106% 105% 103% 321 321 50 80% 79% 86 85 % 17% 91 - 93 ..-S'é‘ 104% 7% 84y T8% 85 1054 62 61 106% 101% 103 105% 105% 102% 1% 8% 104% 106% 103% o » - R waCeonona nSBmm . ha Poland 8s '50. Queenland s °47. Queenland 7s “41. Rhineibe 7¢°4 Rhine W 89 88 83% 824 82 80 e Rhine West 7; %1 Am Ag Ch 7% Riode Jan 635852, Rio de Jan 85 '46. R Gr De Sul 63 'n R GrDe Sull Rome 6% s 52-. Roy D 4845 ww. Sao Pau 7s *40 reu glu Pl‘ulo 8550, 87% 87 .l ” 82% 81% T4 T4 87% 85% 107% 1074 83% 82y 105 105 106 105% 106 105% 9% 99% 98y 98 80% 80% 2% 92 aRpLeBaNRE oe afaNnnne & Swiss 538 46. . Tofio EI Pow 6s 'n Toho El Pow B Tokfo 58 52 Tokio 5% Utd King 5%s ‘37 Unit 88 Cop ¢ &3 Uruguay 6s'60. Vienna 6s 52 Warsaw Yokohama 7% 97% MISCELLANEOUS. AbItibI P & P 58 '53 Ajax Rubber Allegheny & Allegheny 5 Allis-Chalm b 106% 1064 3 101% 101% 101% 3 1041 1044 104% 42 4 5 Am(‘hlln.l'!l.... 2 101 115 8 3 92% 921 921 25 32u 31 - 31 Am S&R 1st 58°47. 15 102% 102 102 :m E“i‘TR.' ‘14 37.. 11 105 108 m cv4i5s'39 30 I3 Am T&T 55 °65. 57c 106% 108u Am T&T c tr 5s Am T&T b= s £ '60 Am T&T 514843, Am W Wks 58 ‘34 AmWat Wk s '75. Am Wr Pap 65’47 Arm & Co 4145’39 Arm Del 5145 '43. AtGulf5s°'59...... 2 65 At Ref deb 5s '37 5 1024 102% 102% Bell Tel Pa 58 B'48 14 108% 108% 108% Bell Tel Pa 5s 1 1121 1124% 112% Beth Steel pm 6836 7 102% 102% 102% Beth Strf5is'42... 5 103% 103% 103% Bush T Bldg 5s°'60. 5 102 102 102 Cert-tddebb%s 48 7 26% 35 35 Chile Cop db 55 47 8 106% 106% 106% 56 106% 106% 106% 33 109 1084% 108% 20 102% 102 102 18 104% 104 1 70 Com Inves 515849, Consum®Pow 58'52. 5 104% 104% 104% CC Md 1st rlSl‘lo 5 34% 38% 34 ConG N ¥ 6%s'45. 36 1064 106% 106% Denver Gas 58'51.. 6 101% 101 101 Det Ed G&R4%a'61117 101% 100% 100% Det Edison 5s'40.. 1 105 105 105 Det Edrf6sB 40.. 6 105% 105% 2o 4 ;891 89 Duquesne 4145 '67. 5 Jom 109% lnsu East C Sug 74837 uonmbloiv. 47.. f n 1 103% 108 108% 2 98 93 93 9915 ’0‘/. 89% 921 101%/101% 101% 102% 102% 102% 105% 4 1 Goody'r Rub 58 '57. eo Humble Ol 58°37.. 3 Hum O&R § 8 I BT istptss A 111 Steel 434540 Inland St 4%s Int Cement 5: Int Hydro El §: Int Match 5847 Int Pap bs A "47. Int Pap 6s '56.... Int T & T 4%s"52.. Int T&T cv 4148°39 77 ln}’l‘li‘il "55.... 43 101% Hlu 105% 1 4% “K 102 102% 9% | Tex Corp cv b8 Direct to: The Star Office - Sales. High. Low. Close. 1 109% 1093 109 100% §03% 1034 101% R01% 101% 80 9% 9% 1024 102% 102 100% 100% 100% 81% Lorillard 7s "44 Lou G & El 53 '53. . MeCormack 68 '34. . 0 Mor & Co 1st 4% Nat Dairy 5345 '48.. Nat Rad 6% s '47... N Eng T 1st bs '52. NYEd1st6%s 41, NY ELH&P 4s"49. . 98% 1% 111% 103 102% 102% 102 103% 105% 103% 103 106% 106% 103% 103% 104% 104% Ner Am Ed 5857, Nor Am Ed §%s "l Nor O T & L 65 47.. Nor St Pw 55 A *41 Nor St Pw 6u B "41 103 102% 1055 103% 106% 103% 104% 106% 102 6% 66% 108 100% i IDMG Paramount 6s * 2 Pathe Exch 78 '37. 4 Phila Pet 5348 '39. . Pos Tel & C 58 5. PubSv G 4% " 2 Pub Sv G 414870, . Shell Un Of1 63 *47 Sfnclair Oil 6% " Sinc O 7scv A ‘a7.. Sinc Cr O 5%s"38. . Sou Bel T&T 63 '41. St OIl N J 5 StOINY 4% = ‘Tenn E1 P 6s A "47.. 87 106 Y 193% 103% 106% 99% 9y 108% 1085 100 | 99% 905 993 72 7N 102% 1024 4% 80% 7% Util Pow 838 '47.. Walworth 65 A 45, \Vh ew Mch fn ‘40 Wil &Co 15t 68 '41. WinRAT%s41... Ygstn Sh&T 5s'78. 103% 102% RAILROAD. Atchls 45 1905-51 Atchison gen 4 Atchiscvdis’4l.. 20 At& Danv 2d 4s'48 AtCLcol 48’52 100 Hy 102% 964 ] 9% 96% 9 981 971y 101% 101% 97 965 107% 107% 108% 1034 103% 1033 8 107!6 109" lfll% IDI% 86 26 984 101% 96% 107% 103% @ > *3 -] Er ) ag R H 6s°95. P&WV ds i1 Sw dy 53’50, LR LT PrEpRRRRR Q0000000 wm 101% 102% 101% 5% 6% i i3 101% 101 BR & Pitt 4%s'57. g“ :g Bush Tercon5s'55. 1 99% 99% .1 s Can Nat 4%s'54 98% 98% 7 i 98% 101% 5% 101 88 87 9% 98% 8% Bklyn Man 6s | Can Nat 4358 Can Nat 4%s 68 Can Nat 4%s '55 Can Nat 5 July 69, Can Nat 55 Oct '69. Can Nor 45 '35. .. Can Pac deb Can Pac 4148 9 101% 105% 105% 101% 99 102 101% 1 105% 105% 105% 1054 6 1013 101% '8T1s 87 101% 101 99% 99 104 104 103% 103% 9k 91 Can Pac 5s ctfs "45. Can Pac 58'54. Cent of Ga 55 C“59. Cent of Ga 5% Cent Pac 55’60 Ches Corp 5s Chi&Ogn 4 Chi& O 4%sB"95 C&Ocon 5s'39 b b 105 105, 97% 1084 44 69% 885 85% 95% % 96% 100% 3 32% 91 ll\ 90 uuu % !25. 9% .m 90 86 8 45 °5: Chi In&L gn 58 '56. Chi M & St P4s’89. Chi M&StP 4%sC.. 2 Chi M&SP ¢35s E. 10 Ch M&StP 43,589, 21 Chi M StP&P 55°75 16 Chi M & St Padj 5. 44 Chi & NW gn 4s'87. 3 Ch&Nwn ¢ 2203, N Wet 1 oy 5 Chi & NW con 4%.8. 81 ChI&NW rf &5 2037. 10 Chi& NW 63536 Chi Rwys 55 27.... & Chi RI&P gn 4s88. 2 ChiRI& Prf4s'34 30 ChiRI&P4%4sA. 18 ’ Chi RIcv 4360 C TH&SE in 55 '60 % 003 lm Clev Term 5%s°72. 10 109% 109% 1m Colo & Sou 4%5°35. 15 Colo & Sou 43880, 15 o Cuba RR 6sctf’36. 5 Cuba RR rf7%l'll Cuba Nor 5%s '42. Del & Hud rf 4 OI. 9% 9% 97U l lfl5l lfifii 106% 96% 99% 82 82 99 106% IM 104 Grt Nor .o'n 7s°3 !I 1% llm }Il: Hud & M adj 53 '57. 25 Hud & M rf 5s B dou o 111 Cent ref I Cent 4% HlCent §14s " I CCSIL&N 55 A. . Int Rap Tr s 2109 109 109 3 lol'« lolu 101% 70 70 70 914 76% 55 69 5% 15 56 1% 7 5T% IntRy CA 6% 735 Towa Cent rf 4s Iowa Cen 1st 5838, Kan CFtS&M 4s°'36 5 98 Kan City Sou3s'50 10 79% KanCity Ter 4s’60. 4 95 94% 94% Lake Shore 3148’97 1 85% 85% 85% LehV v 4%82003. 20 1000 1009 1ops LongIsirf4s'49... 5 934 93 93w Long Inl db b5 7. 4 101% 101% 1014 B 2003. 100% 104 104 L&N1stresns 5t 105% 105% Manh Ry 1st -1 ss 55% 96% 95% Mich Cen 434579, lll 102% 101 MIERy&L % 100 978 9% 98 T9% 102% l lOl* lol\i 1om M StP&SSM 638 MK&T ist 4590, 8 94% 94 M 1 9% 94k 944 86 10 100% 100% 100% 10 96% 96 96 + 22 101 100% 101 1 107% 107 107% 5 107% 106% 106% 5 84 84 84 10 995 99% 99% 46 91% 91 91 NYCreim bs 2013, N ¥ Cent @b 6s'35. ‘93 NYC&StL4s'37, NY C&StL 4%s'78. NYC&StL6s'32. 40 101% 101% 101% L NY NH&H 4s 5 2 864 861 864 NYNH&H @b 4s'57. 1 76 16 176 NY NH&H 4%s°67. 1 94% 94% N'!gfll.flcvdbll 18 :llh 116 116% 1AL CORPORA RE PROESEE i ’ TRENDS AND PROSPECTS OF ON NEW YORK, February 11.—The fol- lo'lr&nb a summary of cor= Standard S&lufllu Un lne New York, m the Associated Press: News Trend. ‘The sharp rise in unfilled steel orders to 4,132,351 tons exceeded most reason- able limits of expectation, It not only marks the fourth consecutive increase since September 30, but exceeds by 137,« 238 tons a gain of 51,617 reported for the similar period of 1930 and was 55,- 980 tons above ghat for 1929. It must be taken into consideration, however, that at the same time a yur ago "':lel a general advance in prices may have g“wvlded some stimulation for heavier iminary figures from the oil in- dustry r!val that the entire decline in dally average crude oil production in the United States for the week e'nded ary 31 was mflrfi,::hln wiped out o e a of approxi per day. Most of the gain ‘occurred in Oklahoma fields, according to the re- port, where production was stepped up about 24,000 barrels daily. Gulf, Mobile & Northern is added to the list of companies taking unfavor- able dividend action at this time, hav- passed the quarterly payment on its preferred. The last payment was $1.50 on January 2, 1931. The Companies. 1 1930 against $3.71. . ‘American Laundry Machinery 1930 comnwn share earnings, $2.87, against Amennn Phno—nml dlvldmd ot Ameri Su Refining reduces "unumsd l\mrw 20 points to 4.50 cents lll'-xnox 1930 common “3‘"“ ll 03, lllinlt $2.16. wqo Wi o ndzr same mont umu ted Gas of New York 1930 gas refrigerator sales, 32,423 units, up 60_per cent. Delaware, Lackawanna & Western u!uo‘mmm_l share earnings, $3.60, "‘Denver & Rio Grande Western Rall- road—Colorado Public Utility Commis- rmission to institute free pick-up service for ship- Railway reported sion grants delivery ai pers Silk Hosiery deficit, $558, ". mlm net lnwnu 31 804,619, equal to $3. Grand anm.l to January 31 ofl!zpermt. Gulf, Mobile & Nerthern R. R. l‘lmil dividend; paid $1.50 Jlnufl'! 2, 5 Imperial Tobacco Co. of Great Britain & Ireland net income on directors’ fees and general reserve in 1930, year :l_,lndes:lofl-bfl‘ 31, $10,182,976 vs. $9,- India Tire & Rubber, 1930 operating dend to $1 from 75 cents. Kimberly Clark 1930 common share $4.82, vs. $6.66. Kuppenheimer (B) & Co. calls 3,600 shares, all outstanding, at Star Gas common_ share earn- ings, 11 months ended November 30, 96 cents. Louisville & Nashville R. R. refused authority by L C. C. to cut passenger McCord Radiator & Mfg. stockholders to vot= on reducing authorized oll- A stock to 28,400 shares and Class B to 303,400 shares. McKeesport Tin Plate—1930 common share earnings, $8.35, against $8.01, lnv cluding profit on sale or redemption of securities. Murphy (G. C.) had 166 stores Febru- show increase S S R s income about t'loo , or -ppromnnnly $200,000 un- der same month of 1930. Pittsburgh Plate Ghso—lunukeo lant increases 'urm schedule to week from 40. Real Silk Hoslery mm—lm income, before Federal taxes subsidiary pre- ferred dividends, sum,nc in 1m, against $2,276,714. Reeves (Daniel) —1930 common share against $3.1: earnings, $2.02, vs. $3.16. Union’ Oil _of _California—Gasoline sales volume for December quarter in California up 17 Ugited States to vote on “uflu 29.200 preferred shares bought in average of tflfi. shares currently outstan Philippines to have eaten $50,000,000 worth of fish last year. Sales. High. Low. Close. 2 9 94 Nor Pacrifs2047. 1 112% 112 112 Ore Short L §s xlll %: 108 108 108 Oreg-Wash 48 95 4% 9% Penn 45 '48 Si 4 98% 98 984 Penn cv 4%s 2 106% 105% 105% Penn gen 4%s lG 102% lfllh lo!h Penn 4%s 984 Penn 4% 63. 25 102 lol% 101% Penn 55 '64. 1 1064 104% 105% Penn 6%s '36. 2 109% 109% 109% Penn O&D 4%s'77. 5 1003 100% 100% Pere Mar4%s 80, 1 100% 100% 100% Pere M 1st 55 '56. .. 10 104% 1044 104% P CC&StL 4%s°77. 10 101% 101 101 TReading 4%sB.... 4 102% 102 102 Read JerCend4s'51 1 96 96 96 Rio Gr W clt 4549, Rio Gr W 1st 4s'39. St L Ir M'nt 5= °31 StL IM R&G 4s'33 5 95 95 95 1 100% 100% IDN/‘ StL&SK gen StLS Wev4s'sz. StP& K¢BLU/.|. Sou Pac 4% Sou P 4%s'69 ww.. 15 994 993 7.. 19 1013 lol 101% 20 87% 87% 212 12 2 Tex & Ark 5%s°50. 5 1054 105% 105% Tex & P llt b8 2000 3 112% 112% llflfi ‘ex PMBID'N ll! 99 'GV. m Third Av ref a 50 49% 50 Third Av adj 55 "60. Un Pac 15t 4547, .. Pac rf 4s 2008, Un Pac ¢ %8s '67. Va Ry Ist 5s'62.... Va Ry & Pow 5834 Wabash 4%s 78... 13 100% 100 100% 1 96% 96 96 5 101% 101% 101% 3 107% 107% 107% 4! 321 32% 324 1 84% B84% 8% 8T . "‘ 4 ¢ 4 4 / !