Evening Star Newspaper, February 11, 1931, Page 15

FINANCIAL. DEMAND FOR STEEL IS DECLARED SPOTTY D. €, WEDNESDAY: FEBRUARY 11, 1931 QUICK TRIAL URGED THE EVENING STAR, WASHINGTON, Sm AN.’IL flfi%AVERAGES Prom Yesterday's 5:30 Edition. Received by Private Wire Direct to The Star Office STOCKS, Note—All stocks are one hundred-share lota | Prev. 163 stock ana IN AEHVE IRAD'NG excepting those o designated by the leter re (808) (2508), i Tty K Utilities, Coppers and Invest- ment Trusts Lead in Advance. BY JOHN A. CRO! Bpeclal Dispatch to The Slar. NEW YORK, February 11.—Public utilities, coppers and investment trusts led today’s strong and active curb mar- ket. Activity on rising prices developed after a dull and lower opening. Pivotal public utilities, such as Elec- tric Bond & Share, American & For- eign Power, American Light & Trac- tion, American Superpower and United . Light & Power A, quickly ran up tonew * peak prices for the year. Cities Service Temained fractionaily under its best price of Tuesday's session. Humble Ol & Refining, unlike most of the oils, scored a new top for the year. + _ Coppers stole the speculative spot- light in the first hour of trading as metal prices, both domestic and for- eign, were advanced following publica- tion of January statistics showing de- clines in red-metal stocks and produc- tion. Newmont Mining, a holding company ‘whose portfolio consists largely of mine and mineral securities, advanced more than 3 points by midday. Hudson Bay Mining, Noranda Mines and other ac- |- tive metal shares also reached new wp levels for 1931. Consolidated Mining & Smelting, which seldom appears on the curb tafle, stood out as a notable excep- tion to this early upswing. It declined 4% points by midda: CHICAGO LIVE STOCK MARKET CHICAGO, February 11 (® (U. S. Department of _Agriculture.—Hogs— 24,000 head, including 5,000 direct; slow, early sales steady to 10 lower than yesterday's average; some bids oft more; 140-200 pounds, 7.90 to 8.10; top, 8.10; 210-280 pounds, 6.90 to 7.85; ept.l. 200 pounds, .. t, 200-250 pounds, 7.00 w 0.00: heavy weight, 250-350 pounds, 6.50 to 7.15; packing sows, medium and good, ,275-500 pounds, 585 to 6.35; slaughter pigs, good and choice, 100-130 pounds, 7.25 to 8.00. €attle, 7,500 head; calves, 2,000 head; fed steers and yearlings about steady; mrker, more active than_on days; light heifer and mited yearlings strong; butcher stock slow, about it steady; bulls_strong; vealers, 25 to 50 lower; best fed yearlings, 10.50; weighty steers held hlghelf slnughur cattle and ml- ers, and _choice , 600 pmmds 350 m 11.75; 900-1,100 875 to 11.75; 1,100-1,2300 8.75 1,300-1,500 'pounds, 875 to Zgolee 550-850 pounds, 6.00 to common and medium, 5.00 to cows, good and choice, 4.50 to 6.50: common and medium, 3.50 to 4.50; low c\lner and - cutter, 2.75 to 3.75; bulls yearlings excluded), good and choice (bee(). 475 to 6.00; cutter to medium, 375 to 4.75; vealers (milk-fed), good and chnic‘emaso to 11.00; ?e&lum 7.50 8.50; cull and common, 5. lu:ocur feeder cattle, steers, good and choice, 500-1,050 pounds, 7.00 8.75; common and medium, 5.00 to 7.00. Shezp, 18,000 head; fat lambs, 25 to 35 lower, very little done; s weak; feecers umflng]mvcr' good to Jambs, 8.75; early top, 9.25; !lt ewes, 350 to 4.50; lambs, 90 pmmdl down, good and choice, 8.25 to $50; medium, .25 to 8.25; 91 to 100 , medium to choice, 7.00a9.40; all weights, com- mon, 600 to 7.25; ewes, 90 to 1.50 pounds, medium to. choice, 3125 to 4.75; all w:izhu cull gm common, 2.00 to 75, 1am! to 70 pounds, .ooawcholu. 775 to ns NEW SECURITIES NEW YORK, February 11 (P).—New securities oflend today include: Louisville Gas & Electric Co. $6,000,- 000 first and refunding mortgage 4% ;/knndAuz\utl 19 1 te headed by the International Man- n Co. hmu‘n Railroad Co. $4,000,000 4% per cent bonds, due in 1979, priced at 10272, to yleld 4.37 per cent, by & group headed by J. P, Mor- gan & Co. BONDS ON THE CURB MARKET. Central DOMESTIC BONDS & A iapama B 4 COEEE B 2282828 2| H . 2o s o g B-a 288! S zzzzzglg!! rs £ ! 2883 HEE o 9! FE < S R B S R e 00 S Mo aee! FERG HE ¥3¥ -1 X % mm 181 ’50 98 gi, o 1 NI,‘/Q 102% 1 [ g et 3 gRee Ty s o e 34 ? nees RRRT R * v’ 2288 & e R F o) o Toe 2 o AAWE AR Qe 2520 i l‘k_g 20} Fgg F R > ~Prev, 1981~ High, 36% - P which shows those stocks were sold in Stock and Bales— Low. Dividend Rate. 38 38 AcmeSteel (234).... 508 19% 11% Affliated Prod 1 1 11 8 AinsworthMfg(1). 7 1% % Alr Investors vic 4 1661 140% Aluminum Co of Am 800s 109% 106% AluCoof Ampf (6). 2 42 28% Alum LtdAwar..... 1 1% 1 AmAustinCar...... 12 2 1% Am British & Cont 1 4% 3% Am Br B fd shars. 2 5 5 Am Capital B. 6 65 65 Am Cigar Co.. 2508 36% 33 AMCP&LA @3).. 1 9% 6% AmCityP&L Bb10% 18 11% Am Com P A (b10%) 40 2413’ Am Com Pr B(b10%) 73 Am Cyanamid B. 4% Am Equities. . 14% Am For Pow war. 31 Am Founders. 70% Am Gas& Eln (31). 1om 102% Am Gas & E1 pf (6). . 4% Am Invest Inc B. 1% Am Invest war. . 42 Am Laundry Mach 43 AmLt& Trac (23%). 27 AmLt&Trpf (1%), 5% Am Maracatbo...... 8% Am Natural Ga: 16 AmStPSA (1.60).. Am Superpow (40c). Am Superp 1st (6).. % Am Ut&G B vte(20c) Anchor P F (b10%). Anglo Chil Nitrate. . Appalachian Gas. ... Arkansas Nat Gas... Arkans Nat Gas A. Armstrong Cork (1). Assoc Fl In Ltd 30c. 0 Gas&El A (a2). G & El war.. Assoc G & E A db rts AssoG & Elct (8)... 2 Assoc G & E of (5) Assoe Rayon.. Assoc Rayon p Atl Coast Fish Atl Secur Corp Atlas Plywood (2).. Atlas Util Corp. . Auto Voting Mach. .. Auto Vot M cv pf pt. Aviation Cp of Am.. Axton Fi To A(3.20). Babeock & Wil (7) 1% 115 25 - Bigelow-Sanford 3% Blue Ridge Corp. 30% Blue Ridge cv pf 21 BrazTr&Lt (b8% 1% Br Celanese rcts. 26% Buff N&EP pf (1. Bulova cv pf (3% Butler Bros. ... Cable & Wire B rots. Canada Marconi. Carib Syndicate. Celanese 1st pf (1) Celanese Cp pt (7)... 768 Cent Pub $v Aal.76. - Cent Pub Sy Del. ... Cent&Swn Ut (b7%) Cent St El (k40c). . . Centrifug Pipe (60c) Chain Store Devel. . Chain Stores Stock Charis Corp (13). . Chat Ph Aln.v. (1) Childs Co pf (7). Cities Serv (g30c)... 39’ Cities Serv pf (6). Cit Sy pf B (60c) 7% Clev Tractor (80c) 2% Club Aluminum Uten & Colombia Syndic: 1% Colon Ofl L T It [ =Torory Com WatSv (b6%). 14 Com His Am sh an 100! 10 Consol Laund (1) 144 Consol M& S 112%.. 208 21 18% Cooper Bessemer (2) 5% Cord Corp. 108 14% Corp Sec Ch 8% Corroon & Reynold: 234 Creole Petroleum. 1 Cresson Consol { 7% Crocker Wheeler. 3 Crown Cent Petr 7 CrCorkInt A (1) # Cufrtis Wr Exp Corp. 1% Dayton Alr & Eng... Deere & Co (1.20).... De Forest Radlo..... Derby Oil Refining. Detroit Afrcraft.... Douglas Afrcraft (1) Dow Chemical. ... DressSRA (3%). Dresser Mfg B (2). Duquesne Gas Cp wi. Durant Motors. . Duval Tex Sul wi, East G & F Assoc.. East St Pow B (1). Ead Elec Bond & Sh (b6) 116 Elec B & Shpf (6)... 9% Elec B & Shcupfs.. Elec Pow Ass0c (1). Elec Pow Asso A (1) Elec P& Lt op war.. ¥l Sharehold (b6% ). El Shareh pf (a6%) « SheaJamman oS85 Empire Pub 8ve (A). Emp Steel Corp Engineers Gold. Burop E Ltd A ( Europ Elec deb rts. . Evans Wallow Lead. Fairchild Aviation Fajardo Suga Falcon Lead. Fansteel Prod Fiat rets (1.25).. Florida P& L pt Ford M Can A (1.20] 13 Ford Mot Can B 1.20.200s Ford M Ltd (p37% a“ 1 ' Foremost Dairy Pr, 1 4% Fox Theater ClA.. 4 Gen Alloys (80c).. 6% Gen Aviation % Gen Baking. 17 GenBaking NY wi % Gen Baking c.0.d. 27 Gen Baking pf (3). 14 Gen Empire Cor (1). » ruBaso aBemwnn 115 50% Gen G&E cv pt B (8) l!‘:gl 60% 26% Gen Petroleum...... 21% Gen Thevpt wi(3). 69 zcu 1 Gleaner C Harvmew. 13 1% 54 Glen Alden Coal(8).. 5 56 % Gold Seal Elecnew.. 7 1% % Golden Cenfer. 1 1% 8% B% GoldmanSachTC... 56 m % & Goth Knitback Mch.. 2 10% 10% Gramophone rcts(pl) 10 mu 28 28% GraymurCorp (1)... 2 27% 216 167% Gt At&Pac Teanv(6) 10s 215 121 118 GrtA&PTpf(7).. 10s 117 97 97 (Grief&Brpfx (7)..100s 97 es%\Guif Ot of Pa (1%). 25 70% 14% Hazeltine Corp (2).. 1 28% 6% Hecla Mining (1).... 3 6% 2% Hygrade Food Prod. 17% Imp Ofl of Can (50c). 10 17% 16 Indiana PipeL (2. 2 21 lOl'/. 100% Ind P&L cu pf (6%). 50s lm 14 Ind Ter IlluOfl A... 13% Ind Ter Illu Oil B, 38% 142 6 39 39 19 ¢ 19 ¥ 2 10% 1 1% 157 09 IM 10‘ Hfl!b 116% "A\ 33% 140 5% 1% 1% 2% 2% 21 21 1.4'“ 14% 5% % 18% 18% ¥ % 20% 20% Ada 00. Oven. High. Low. Close. 39 19 10% 1% 161 109 40 104 1% 110% 6 1% 2% ls% Memph N G Co (60c) % Nat Ihvestors..... Leh Coal&Nav (1.40) Leonard Ofl........ Libby McNeli & L.", Liberty Baking. . Lifberty Dairy Prod Loew’s Inc war. . LoneStar Gasn (1)... Long Island Lt (60c) MacMarr Stores (1). Magdalena Synd. .. Massey Harris Mavis Bottling. Mead Johnson( - Mer Ch & S (1.60) Mesabi Iron, Met Chain Sto Mid St Pet vic A Mid St Pet vtc B. Mid WSt Ut (1%). Mid West Ut (b8 % Mid W Util B wi. Mid Roy ev pf (2. Mid Unitpf A (a3 Mining Corp of Can Mo Kan P L (b10%). Mo Kan P L vte..... Miss Riv Fuel bd rts. Mtg B C Am sh 3.52.. Nat American Co Nat Aviation. ... Nat Bond & Sh (75¢) Nat El Pow A (1.80). Nat Fuel Gas (1) - - HOMMAR D0 NI SO aNRRe~As 85O Nat Pow & Lt pf (6). Nat Pub Sv A (1.60). Nat PS cv pf ww 3%. Nat Rubber Mach. .. Nat Stl Car Ltd (2) .. Nat ST Sec A (350c) 6 Nat Sugar NJ (2) Nat Union Radio. Neisner Bros pf ( Nelson Herman (1) 2 New Brad Oil (40c). 2 New Eng Pow pf (6) lSOl New Hav Clock (1) New Jers Zinc ¢13) New Mex & Ar Lan Newmont Min (4). N Y Steam n (2.60) g 9 e Niles-Bem-Pond Nipissing (30c) Noranda Mines Nor Am Util Sec. Nor & So Am Cor Nor Europ 0il Corp Nor St Pow A (8) % Ohio Copper. . Ohio Ofl n cu pf (6).. Otlstocks Ltd A (40¢) Outboard Motor B. Overseas Sec. ... PacG&E1stpf1%. Pac Pub Sve A(1.30). Pac Western Oil. Pandem Of1. Paramount Cab Mfg. 6% Pennroad Corp (20¢) 22 13% 1% 2% 2 & 18% 23 8% Tubize Chatel (B)..« 6% 1% U 5% 14% 5% 68 L 16% Penn Pw & Lt pf (6). Penn Wat & Pow (3) Peop L& P Aa2.40.. Philip Morris Ing... Piedmont Hyd Eln w Pilot Rad Tube A. .. Pitney B Pn (20c). Prince & Whitely Prince & Whitely pf. Producers Roy Corp. Prudential Invest. .. PS of N 111 (8)no par PS, NT1I(8) $100 par Pub Util Hold Cp ww Pub Uti] Hold war. . Pub Ut Hold cu p£(3) Pure O1l pt (6).. Raflroad Sh (50c). R Richman Bros (3). Rike Kumbler (2.20) oan Antelope Min. . aosevelt Field Inc.. Rossia Int Corp..... 35% Royal Typewriter(3) Ryan Consolidated. . St Anthony Gold. St Regis Paper (1. Salt Creek Prod (2. o L Silica Gel etfs. .. Singer Mfg (10, Sing Mfg, Ltd (23 Smith (A 0) (2). S0 Am Air Lines 1st.. So Am Gold & Plat... South Corp.... South Penn Oil (2) SouthCEdpfB1%. SouthernNat Gas. Southld Royaity 60c. BB enuliEl =L TH T 2 Stand Ol of Ind (l) - 46 Stand Ol Ky (1%).. 49% Stand Oil, Ohio (235)200s Stand Pwr & Lt (2) .. Stein Cosmetics. Strauss (Nathan). Strauss Roth. . Stutz Motor (new). Sunlnv..... Sun Invest pf (3) Dm0 am Swift Internat (3)... Syracuse W Mach B. Technicolor, Inc. Teck Hughes (60 TS Py Tri Utilities (31. 20) . Ungerieider Fin Cp. . Un N G of Can (1.40) Unit Car Fastener... - » S e ® U s n‘on (B) (50c) & Inl Secur. Verde util ru.u-n.o: n Utll & Ind...... Util & Ind pf (. l%) Utllity Equities. Util Equity pf (5%).« = P 'Vic Finan Corp(40c) . ‘Walgreen Co..ceeeee 2 anaad ;a N BANK FAILURE % 1| New Yorkers Employ Counsel 1% 1 27 34% After Indictment in Finan- cial Collapse. ~ BY JOHN F. SINCLAIR. Special Dispatch to The Star. NEW YORK, February 11.—Now that eight officers and directors of the Bank of United States have been indicted for their alleged part in the transactions which led to this bank failure—the largést In American history—the, case should be disposed of quickly. ‘The indicted men have as their at- torneys some of the ablest New York lawyers. The case will be hard fought. Among the counsel already selected are John W. Davis, former Democratic can- didate for President; Charles H. Tuttle, Republican “candidate for Governor at the last “election; Emory R. Buclnwr. former New York district attorney, and Martin W. Littleton, former Congress- man and famous criminal lawyer. The case should be brought to trial speedily. For the entire city of New York, not to mention the 400,000 Bank or United States depositors, as well as a eat part of the Nation, is interested w see_justice done, without any techni- cal delays so common in such expensive trials. Germany Seeking Loan. ’ Foreign Minister Curtius of Germany reminds the world that Germany ncve'r guaranteed she could live up to the pro- visions of the Young plan, but nddl that while she will not renounce the plan she will continue to urge that eco- nomic justice be reinstated to lift the load “which war debts and armaments are causing.” Germany is seeking another loan. A small one this time—only a feeler— about $32,000,000—and France is ex- pected to take a good slice of it. If it is popular, it -will be, followed by other loans, for Germany must have several times this amount this year to keep % | Boine. It is mow well known that the last German 15 | take an: loan of $125,000,000 did not Treceive any wide support from the American le. It is not likely, therefore, that the United States y great amount of German issues for the next few months. Still, ho knows? Higginso, ; whlr,h ‘handled the American end of the last loan, is at present in Paris, working out, with bankers, the details of the new issue, indicating, at least, that the United States will have an opportunity to subscribe for a part of the new issue. International Bank. ‘The Bank for International Settle- ments was created and appointed as a ftrustee of Germany’s creditors to collect their claims from Germany. It decides wbn Germany can pay in cash. also has been made the debtors’ t.rus'u in being called uj to co-operate with Germnny in task of (lllflllh‘ls these obligations. also, in view of the cial interests in Ger- many that are affected by the reactions of v.:u bank’s policy on Germany's Now, the biggest foreign private creditor of Germany is the United States. Why should not Amzflccn business be represented on the board of the International Bank at Basel? For to this board the American in- vestor can turn if the bank either neglects to safeguard against a coming crisis, or, as trustee for the repara- tion % | ing more and more in Euroj 6% ulhlps are involved and difficult to ‘The debtor and creditor relation- an- many. lyze. Every nation is affected. But the United States owes no one, If 5% l.heiavllae her business men will see from the xa.ndpoln: of | &n °”"‘"’m£ 5 Fepresen Tope’s, ‘business. tives are pl-lcedmflkmol’ln!fl’- national Settlements, because institution lies the bclt bet for flle 'fil adjudication of .all debts. Bessborough’s Appointment. How times ! Look at the ‘b%. (Copyrights 1931, by North Ami . Daper Alfanceroriean News —_—— AVERAGE STOCK ADVANCE HAS REACHED 10 POINTS Special Dispatch to The Star. the 1930 low, are those of 22 points in American Telephone & Telegraph, 27 2% | points in Baltimore & Ohio, about 24 ;m: ’:P‘Johnl Il;;lvflll. n::-ly 35 Chemical, about 30, 6% T% | Kodak, nnrlyzopolnntncm-nl’md- "ucufl;. m‘n points in New York Cen- GRAIN MAnKEt 83.: (Copyright, 1031, Standard Statistics Co.) WOULD UNITE FOUR LOCAL GAS FIRMS Owners of Washington Co. File Application With Mary- land Commission. Special Dispatch to The Star. BALTIMORE, February 11.—Uniform control and operation of the Washing- ton Gas Light Co., the Georgetown Gas Light Co., the Georgetown Gas Light Co. of Montgomery County, a subsid- jary. of the Washington company and the Washington Suburban Gas Co., formerly known as the Hyattsville Gas \lflfim monfior:hi: :;uxht in an appl VIRGINIA TELEPHONE SYSTEM IS EXPANDED C. & P. Company Plan¢ Expendi- ture of $14,000,000 in Improvements. Plant additions, betterments and re- placements to be made by the Chesa- |™ peake & Potomac Telephone Co. of Virginia for the three years ending with 1933 will involve gross expenditures of about $14,000,000, it was announced at the annual meeting of the company just held in Richmond. Of this amount, it | ered by Buflml'gdthltt!’flmwmbeex. pended in 1031, T‘zz'mpmy,. Pre ‘am pro za,aoom prov; l&-na Seaboard Tovest- | ing Massachusetts on April 18, 1929, now controls 84 cent of the capital stock of the Was! n Gas cording W the application, and asks au- thorization the commission to u‘- quire all the capital stock and outstand- sh..ru of the Hyattsville utilities Accordin; to the application, whinh was filed by Clrey':h:’lgwgr & Hall, e Washington B\lb\lrhn Galo ts of $3,548.41, m! W of 059?5926 In addition it unamortized debt discount and ex- penses of $17,554.68 and mueeunnemu of $2,793.95, & total of $20,348.63, mak ing the total investment $946,738. 87, from ue for the g?tl’lflnl revenue jovember 30, 1930, was Gll grojem ‘were land and hCotc- Light B 's tion ‘program last year inve expenditures of $5,600,544. buildings, plant investment in Virginia amounted to $29,359,508, an increase for the year o!loveree.n Tel last year were lephones in Virginia increlndbyml'lfi or7permt.. ‘The Telephone operating revenues during 1930 amounted to $8,173,272, an in- crease of 6.8 per cent over the previous Il'p 14' May, +11.17, up ‘October, 1110 up 11; to ber, 11.90, up ll, and January, 11.95, , lea & net of um sll. ‘whichh was trans- . Copies-of the: up 9. e apLrc Curb President Re-elected. NEW YORK, February 11 (P).—Wil= ms.mfifi'mmm"m for his fifth term_as president of the New York Curb His principal address «Pyblic Opinion and the S"OC'( Mcrkef" & delivered by Richafd Whitney; President of the Néw York Stock Exchange,’ before the Boston Chamber of Commerce on Janvary aoth, 1931,1willibe:senf . without.charge to those interested. Mackubin, Goodrich & Co. EBSTABIISHED :5899 BANKERS are as yet placing “(mm delivery.” Bookings Gain Slightly During Wuk,!nyl'l‘m.hl'oinnl Review, By the Associated Press, NEW YORK, February 11.~Iron and steel demand remains spotty, but book- ings as a whole have registered an- other slight gain, Iron Age enterprise and the ebb and sonal tnfluenea Spr demands is and this year is being anticipated less than usual. ithoug] of the rate at wi issue specifications. “Prices of finished steel and iron are, in the main, unchanged, here and there showing evidences of weakness. Most large eonmttorfl:ecurmtqw :;.md -luwmm’wmeeuu market for second quarter, little business for i Bee hvvn 347,000 acres in tlm'l:r‘:” .: compared with First Mortgage Loans Lowest Rates of Interest and Commission Thomas J. Fisher & Company, Inc. ESTATE LOANS Made at Low Interest Rates for 3. 5 or 10 1520 K St NoW. NM 0478 We Pay at Least : 5% Interest on Savings Accounts Members of ‘hk'm a5 et ‘east 8% vings: g, b B nn of u“lllfl- A sav- t with. this. fasti- has many desirable features. Open Daily 9t § lays Until Noon NAtional 1381 IPERMANENT} SIS MNTH ST N | SAVE FOR SECURITY The safety of your invest- ment in s building associa- tion is assured by the fact that, fully 91%% of the sssets are invested in homes and secured by Pirst Mortgages, . A few dollars saved each month will soon provide the comforts of later life IN A HOME of YOUR OWN. Join our association NOW and make the start that will MUTUAL Building Association Or; October 1892 Tth Street S.W. Thomas P. Brown, President Thomas E. Petty, Secretary J. Walter Stephenson, Treasurer ) 6% Walker (H) (1).ooenr % Wenden Copper. 1 wostAtrRep (606) o0 “Wil-Low Cataterias., uu ‘Wil-Low Cafeter pf.. 8 Zonite Products (1).. 5% Industrial Finan ctfs 293 Insull Inv (b§%). ... 6% Insurance Ses (100). FCELE ot eg 5 o Ly Gl =2 L 33, .» Sguip g JO e A e $85399598! g { pe | mmvcrkand Hfimfioflo&‘m REDWOOD & SOUM ST6. BALTIMORE, MD. | RTINS -.‘fl HEed e e 233 FEE - = ® NONNEN [NADD HARERNARNOARRANHNOANANNEHNT APRDR | 2% Interstate Eq 7% Irving Air Chute u) 2% Italian Superpow A. % Italian Superp war.. 104 Kriott Corp (1)..am = 1 996 H STREET - WASHINGTON, D. €. 1 [EE LR Tl sisiiie e i