Evening Star Newspaper, February 13, 1931, Page 14

A—14 exx SNBWI]EN PREDICTS BRITISH DEFICITS| Chancellor Warns Parlia- ment of $200,000,000 Short- age in Present Year, BY JOHN F. SINCLAIR. Special Dispatch to The Star. NEW YORK, February 13.—Philip Snowden's dramatic and impressive speech on the condition of British busi- ness and credit in the House of Com- mons has had few parallels in British history. Mr. Snowden told the House, already sobered by his previous remarks, that Great Britain is face to face with a buge deficit, that British business is so bad that “vast and disagreeable measures must be taken to maintain budgetary equilibrium and restore industry.” How_this pale-faced invalid stands up under the terrific strain of office is a mystery. In two months he must outline the government fiscal policy for the new year. Either he must secure more revenue out of British income to pay the increasing cost of government or he must cut expenses drastically all down the line. Which will it be? Per- haps it will be a combination of both. The British government deficit this year will be about $200,000,000 and 3250 000,000 next year. It looks bad, and no one in Great Britain seems to want Mr. Snowden’s job, although there are many critics. Next to that of Prime Minister MacDonald, Mr. Snow- den’s task is the hardest at this time in the British Empire. Yet the little chancellor gives no in- timation that either his health or his determination is diminished, and until one or the other does, Philip Snowden will continue to control British finan- cial destiny. Reparations Question. Germany is not going to declare a moratorium on her reparation pay- ‘ments—not until “the last dog is hung.” This was evident b{‘ % 2-to-1 v‘m o: the Reichstag yesf y - agains motion asking an immediate declaration of a moratorium under the Young plan and asking also for immediate steps to- wd a revision of the reparation pay- ments. But what the Reichstag did yesterday that is significant was in pass! by & vote of 314 to 46, a modon which fa- vored opening of negotiations immedi- ately with the signatories of the Young plan in the hopes of obtaining a re- vision. Again the reparation question rises up to plague the allies. Mrfim prices remnln 50 Frederic anur. Oenenl Bnklng hold out much dld nm w“nfia ice of bakers’ loaves drop much further, u; nless perhaps the housewives go on strike mfifm their own bread and cakes. And that's really t.he answer—house- wives break the strongest bread trust ever conceived if they ever de- mmw S0 aferer s that uvli.lh?vl: the answer from angle, if tackled another 1o tackled at all, because the wives o(mdnydnnmmebrud.mflw- parently have no intention of doing so. needed, an: world needs today. “T hope that there may soon be such a re-establishment of conndenee in m United States l.h:'tnonr ':wl;. o;v'l:‘l’a:.ry, ue Tneces- oy Sccomomic role of ‘every crediior nfi'y—fl’llt of luppurr of Mr. uca‘:?nh Tated that the bank o see several bi banking the same fleld, ‘for he says the need is very gre great. This statement is worth heeding, for no creditor country can maintain its lem;mn without loaning surplus funds those countries that want money. And the United States today is the world'’s greatest creditor Nation! Tyranny of Gold. eous attempt to master yranny of :gld and stop the fall in world pflcu says the new statesman of London, in discussing the gold standard of money. Francis W. Hirst, former edin' of the Economist (London; and the biog- rapher of Thomas Jefferson, recently declared that, based on the purchasing power of gold in 1918 and &t the present time, British annual payments to the United States of $165,000,000 are really ply‘l‘?fllfl of $330,000,000. e “If we were repaying fairly American allies 'hll they k)lned to us we should and principal not uesmooo but 882,500,000 yearly,” said this English- man. Here Mr. Hirst \.s referring primarily to the drop in price level to 50 %er cent of whnz it was when the nited States sold the goods to Great Britain. At that time we received credit—not gold—for the goods which we sold. These credits, due to the fact th id is now worth twice as much !0 was then, should mean, Mr. Hirst thinks, that the public debt to the United States be cut in two. ‘We'll hear plenty more on this sub- jec! before the question is finally set- m;ben ‘Whitecar of Cllun{‘x’h struck a responsive chord thmugh Nation when he wrote the “Begging for Bread.” Senator Norris o( Nebraska had 1t read into the Congressional Record. Here are two verses: Begmg for bread—in a plentiful llnd ng for bread—with a trade in his Sound l.! l "dollar in heart and in head, Ready ’:d work and yet . begging fof *Begging for bread—and not begging alone Now .;e Lhcy swollen to numbers un- ‘Who oy "the’ highwhys with heart- And swarm through city streets—beg- ging for bread. (Copyright, 1931, by Nom- American News- paper Alliance. U. S. HARDWARE EXPORTS. By the Assoclated Press. Exports from the United States of hardware and allied products me valued at $56,090,000 in 1930, as with the record tetal of l’M.lu- the De- m‘m«uflymxm m‘&wtmms s, in line with the general trend of Sorld trade due to several economic factors. decline in foreign building, hleh greatly _curtailed demand :*zywmmmmm a exports Chief ~among these was the |y FINANCIAL. THE EVENING STAR, WASHINGTON, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. - 70 Mo Kan & Tex pf (1) 30% Missouri Pacific..... 86% Missouri Pac pf (5). 10% Mohawk Carpet. .. Monsanto Ch (g1%). 16% Montgomery Ward. . % Mother Lode. 23 Motor Meter G & El. 14% Motor Wheel 11%4). 8% Mullins Mfg. .. 11% Murray Corp. 30 Myer(FE)& 27% Nash Motors (4). T4 Nat Acme (80 34 Nat Bella Hes: 76 Nat Biscuit (2.80). 29 t Cash Reg A (3). 384 Nat Dairy (2.60).... 4% Nat Dept Store. 60 Nat Dept St 1st (7) 19% Nat Dist Prod (2)... 21 Nat Enam & Stamp 25% Nat Pow & Lt (1) % Nat Radiator. % Nat Ry Mex 2d 42 Nat Steel (2). 59 Nat Supply (5). 107% Nat Supply pf (7) 4 41% Nat Surety (5) 15% Nat Tea (1). 19% Neisner Bros 10% Nevada Copper (1). 15 Newport Co (1). 424 Newport Co A (3) 14% Newton Steel. 113 N Y Central (8) 10% N Y Invest (1.20) 75 NYNH& Hart (6). 110 NYNH&HDL(T).. 5% N Y Ont & Western. . 1 NY Raflwayspf.... 4% North Am Aviation. . 62 Nor Am (b10% stk). 53 North Amer pt (3).. 102 North Am Ed pf (6). 47% Northern Pacific (5. 43 Northwest Tel (3). 156% Ohio Oil (1) 3% Oliver Farm Eq new. 18% Oliv Farm Eq pr pf. o Bl T TSTRTCES)- JUTRPVITES - JOPPIers oY ® 124% Otis Elev pt (6) 10 Otis Steel... 38% Owens 111 Glass (3). 4 Pacific Coast 8 Pacific Coa: s Pacific Gas & El (2). 31 Pacific Lighting (3). 9 Pacific Tel & Tel (7). 50s Paclfic T & T pf (6).. 1 Pack Mot Car (6uc) Pan Am Petroleum Panhandle P& R. 6% Paramount Pub (4). Park Utah.... . Parmelee Transport. Pathe Exchange. Patino Mines Penick & Ford (1)... Penney (J C) (3. Penn Dixie Cement. Penn Dixie Cmt pf.. Penn RR (4)... Peop Gas Ch (8) Pere Mara pr pt (5). FPetrolm Cp of Am(1) Phelps Dodge (2)... Phila Co 6% pf (3).. Phil Read C & 1. Philip Mor & Co Phillips Pet (2). . Pierce-Arrow A (2). Plerce Oil. Pierce Oil p Pilerce Petrolm (lflt) Pillsbury Flour (2). Pitts Screw (1.40).. Pitts & W Va (6). Poor & Co (B). Porto Ric Am T(A).. PRAmM TobB...... Postal T & C pf (7).. Prairie Oil & Gas (2) Prairie Plpe L (15).. Pressed Steel Car.... Proct & Gamb (2.40) EITTN Y7o - =3 BE - 86% 10 24 54% 10% 1 16% 25 ° BT TP T ™ Barvoaumuwrmal? 1% 101% Pure Oil pf (8) 108 Purity Bakerles (4). 17 Radio Corp......... 216 Radio Corp pf A (3% Radio Corp B (5).... Radio-Keith-Orph A. Raybestos Man 2.60. Rem Rand (1.60).... 82% Rem-Rand 1st pf (7) Reo Motor Car (80c) Rossia Insur (2.20) Royal Dutch m1.340 Safeway Stores (5).. Seneca Copper Servel Inc. . Sharon Steel Hoop. Sharp & Dohme. . Shattuck F G (nu). 7% Shell Unjon Oil. 4% Shubert Theaters. 14% Simmons Co. . 7% Simms Petroleum 10% Sinclair Con Ofl (1) 1ozv. 95 Sinclair Oil pt (l) +12% 8% Skelly Ofl PO 62 42% Skelly Oil pt (C) ceee 35% 29 Sloss Sheffield St pf. 4% 2% Snider Packing..... 6 108 7 63 62'% 247T% 24T 20 88 41 13% 1 102% 102‘/' 1134 10% 13 5% 53% 324 32% 3% South Dairies B South P: cific (6). South Ry (8) Spang-Chalfan Sparks Withing (1).. Spencer Starrett Spicer Mfg. ... Splegel-May-Stern. . Stand Brands (1.20). Stand G&E (3%)... Stand G & E pt (4).. Stand Invest Corp. .. Stand Ofl Cal (h2%). Stand Oil of Kan (1) Stand O N J (12)... Stand Oil N Y (1.60). Kellog (80c) (LS) (12%) Sterling Sec A Stewart Warnes Stone & Webster (4 Studebaker (1.20) Submarine Boat Sun Ofl (11).. Sun Oil pf (6).. Superheater (2%) Superior Oil. Superior Steel. ... Sweets of Amer (1).. Symington Tennessee Corp(50c) Texas Corp (3). Tex Gulf Sulph ( Texas P C & Oil. Texas Pac Land Tr.. 230 The Fair (2.40). Thermold Co Third Nat Invest. Thompson Pr (2.40)« Thompson Starrett. . Tide Water As (60c). Tide Wat As pf (6).. Tide Wat Oil (80c).. Tide Wat Oil pf (5).. Timken Det Ax (80¢) Timken Roller (3) Tobacco Products Tobacco Prod A t95¢ 4 Transamerica (1). Transue & W (1). Tri-Cont Corp..... Tri-Cont Corp pf (6) Trico Prod (2%) 4 Twin City R T pt (7) 1408 Ulen & Co (1.60). .. Und-Elliot-Fish (5). 1 10 Und Ell-Fisch pf (7) 10s Un Carbide (2.60)... 63 Un Oil of Cal (2) Un Pacific (10) Unit Afrcraft pf (3) Utd Am Bosch. Unit Biscuit (2)... Unit Carbon (1).. Unit Cigar Stores. Unit Cig Strs pf (6). United Corporation. . 213 Unit Corp pf (3) Unit Electric Coal Unit Fruit (4). Unit G & Im (1.20).. Unit G & Im pf (5).. Unit Piece D W (2).. U S & For Secur. U S Freight. .. 25% nuNBLRAN Oy Realty & Im Rubber..... Rubber 1st pf. Smelt & Ref (1) Sm & Ref pf3%. S Steel (7).... U S Steel pf (7). U S Tobaceo (4). Unit Stores A... Unit Stores pf (2 V.) . Univ Leaf Tob (3). Zank - - EmAeawRE S EN N o S .- Univ Pic 1st pf (8).. 208 Utah Copper (8).... Util P&L A (ef2.15). 1 2 Vadasco Waldorf West Pa 4 West Pa West Pa Western Wrigley 10:30 AM. 1:30 P.M..oooaes Dividend rates as payments based on 3% Vadasco Sales Cp pf. Vanadium Corp (3).. 519 Van Raalte Van Raalte 1st pf. Va-Car Chem. .. Va-Car Chem §% pt. Vulcan Det (4)..... 5708 Wabash RR... Yellow Truck. .. Youngs Spring (3) Young Sh & Tube (5) Zenith Radlo RIGHTS—EXPIRE. Pac Gas & El.Mar 11 327 Sales of Stocks on New York Exchange. B o creding. ‘xel;'"“ el 708 2 1 Sales Corp. . . 708 2 1 Sys (1% Walworth Co (2) Ward Baking B. Ward Baking pf (7). Warner Bros Pict... Warner Quinlan. Warren Bros (3) War Bros cv pf (3).. Warren Fdy & P (2). Wess Oil & Snow (2) Wess O & Sn pf (4).. Elpf (7). Pow pf (6. Pow pf (7). Dairy A (4) Western Dairy B Western Md Western Pacific pf. Western Union (8) Westing A B (2) Westing E & M (5) Westing E&M pf 3) Weston El Instr (1). Westvaco Chlor (2). Wextark Radio Strs. White Motors (2). White Rock MS 4%, White Sew Mach pt.. Wilson & Co A. Woolworth (2. Worthington Pump. . 120 Wright Aeronaut. . 508 13 69 1 3 2 (Wm) (4).. 2% 2 400,600 12:00 Noon. ++ 1,200, 2.000,000 2:10 P.M... 300,000 2 300,000 §i¥en in the above table are the annual cash 100 ‘shares. w.m; Fearly” declarations: stock. CORPORATION REPORTS TRENDS AND PROSPECTS OF LEADING ORGANIZATIONS NEW YORK, February 13.—The fol- lowing is & summary of ‘im) nt cor- had | poration news prepared by the Standard Statistics Co., Inc., New Ym’k for the Associated Press. News Trend. Although railroad earnings, as re- ported for ber, reached conspic- oully low levels when compared with the results of the previous year, re- pom for January are not generally ex- pected to show much, if any, improve- ment. Slight gains that may have been shown in the number of revenue freight Proportions to-provide & sharp. uBEiF ns to pro a sharp upturn g-;'.umnry earnings, Chicago & Alu(:: already an opera deficit of $591,000 for the month which exceeds by $282,742 the deficit reported for the corresponding period a year ago, while the January net operating meonu of Chicago & No fl.hwelw'n way is to be Dfl t!“ 709 Xrom the figure of January, 1 ‘The Companies. Atlantic Coast Line Rallroad 1930 share earnings $7.58 against price of increases Motor Gasoline 1, cent | share earnings, prefl!nd :lfldend Nldn:lfl% DG cember 1. Best & Co. common earnings ear -ndgd January n. lul. $4.15 against cu:fl lmnn:rmnflcm- 'm-plion- three-year lmpmvement program in- volves $14,000,00 = Chicago & Mwn Rallroad January deficit, after charges, $591,000 lgllnst deficit $308,258. Commonwealth & Southern — Over “5000000 involved in 1931 connmc- tion program of operating unif Davenport Hoslery Mills 1930 com-~ mon share earnings $3.27 against $5.01. Dexter Co. 1930 common share earn- ings $1.67 against $2.50. Eastern Gas & Fuel associates buys controlling Inunfl in Doane Commer- cial Towing Co. General Foods—Dunlop Mills resume on_full time, Endicott-Johnson—Sentiment among directors reported in favor of declaring regular common dividend at March meeting. Ford Motor orders two new 300-foot cargo ships to be built by Great Lakes Engineering Works; will build two air- ports and trade school in Brazil. General Aviation buys eonzrol of lehurgh Metal Alrpl.ln speml "l 000000 on Pflfldlll’e advertising in General Theaters Bqulvrnenz dechren initial 75 cents quarterly preferred dividend. Huel-Auu Glass preliminary com- n share earnings, year ended Decem- ?:;921 $3.43, mml'. $5.29 earned in Heywood-Wakefield 1930 deficit, $1,- 304,337, against deficit $251,248, Kinney (G. R) January sales off 243 per cent. lane Star Gas January revenues re- ported higher. McAleer Ihnu!lcwflu !uo'mm: tore m-l me-. 53 : problbly nduee workln. per cent on account of depre-lo k Mohawk Mills 1930 deficit, $509,779, against net income ll lll NO. $3.02 common share in except uccountlnz machine division to g0 on temporary three-day week sched- ule nnlmn flve days formerly, effective February 1 Nnional Dnlry Products January | D’ Kraft Phenix cheeae sales up 20 per cent. New York Air Brake 1930 common share earnings $2.26, against $4.72. North American Aviaf tion 1930 net | Mer. Tr. & BONDS ARE STEADY INLIGHT TURNOVER U. S. Group Firm—Railroad List in Better Demand. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, February 13.—Bonds were firm today in trading that showed a sharp decrease from that of Wednes- day. The inquiry for second and third grade issues that had developed strongly in the earlier sessions of the week seemed to have dried up. United States Government long-term issues, which sold off in the last hour Wednesday as a result of the Street's bearish interpretation of Ozden L. Mills’ speech, were firm tods The Street was convlneed that the final form of the proposal to help vet- erans holding compensation_certificates would not require a new Government bond offering of more than $500,000,000. Money rates were unchanged. The dullness set in at the opening, but at no time did it have any eflect on seasohed investment issues. matter of fact, Atchison general 4&— the aristocrat of railroad bonds—moved up another Y point to his highest peak in years. Baltimore & Ohio first 4s were fractionally lower at first, but re- covered. There was a steady demand at unchanged or slightly hlghel' prices for all similarly secured issues. Advances were recorded in American Telephone 5158 and 5s, American Smelt- ing & Refining 5s, Brooklyn-Mlnhntcm Transit 6s, Canadian Pacific 41s, In- ternational Cement 5s, Great Nonhe 7s, Inland Steel 415s, Nickel Plate 4s, Northern Pacific 45 Philadelphia Co. 5s, Standard Oil of New York 4!s and Utah Power & Light 5s, Southern Railway 4s, long classed as a secondary railroad bond and which sold down to a 540 per cent yleld basis in 1930, today sold around a 4.60 per cent basis to maturity. Junior issues were irregular. Declines were registered by most of the con- vertibles, including American Telephone 4%,s, International Telephone 4l5s, Commercial Investment Trust 5%s and General Theaters Equipment 6s. mu issues like Chicago Great Western s, International_Great Northern Adjust- ments and St. Paul 55 and Adjust- ments were unchan; or a shade lower. There were small advances in International Hydro-Electric 6s, Mis- souri-Pacific 4s and Richfield Oil 6s. Consolidated Coal of Maryland 5s, which were strong earlier in the week, dropped over 2 points. Washington Stock Exchange SALES. ‘Washington Gas 6s * '—$100 at 1013;. Washington Gas 55—$1,000 at 104%;. Washington Rwy. & Electric 45—$500 at 88, $500 at 88. Capital Traction Co.—3 at 38, 10 at 37, 10 at 37, 10 at Sfl".. 6 at 37. Potomac_Electric 5% % pfd. Washington Rwy. & Electric pfd. at 9734, 10 at 98, 10 at 98. Seventh Street Savings Bank—8 at 290. Naticnal Mtge. & Inv. pfd.—100 at 5. Mergenthaler Linotvpe—10 at 87%, 10 at 873, 10 at 873, 10 at 87%, 10 at 872, AFTER CALL. Capital Traction 5s—$500 at 821, $1,000 at 8215, $1,000 at 8215. Pederal-American National Bank & ‘Trust—10 at 50. Bid and Asked Prices. Tel. of Qunttal Traction R. & Suburban 5s. Wash. Rwy. & Elec. Barber & Ross Inc. 6ls hevy Club sl,- Eomnga Couniny D. aper Mig. A u Sold Stordse 5 . Oons. Title Wash. Rwy. & Wash. Rwy. & El. Bta. () NATIONAL BANK. Capital (14) Columbia (13 ‘98ia Tust _(85) Washington Loan & Trust (i4). SAVINGS BANK. Bank of Betheada (81), Gommerce & Savin s (10) ) Washington Mechanics (20) FIRE INSURANCE. American (12) TITLE INSURANCE. Columbla (6h). Real Estate (6h). Title & Inv. Co. Md. com. MISCELLARROUS. Barber & Ross. Inc.. co 8ol Sedical Bids. Gorp. (& Col, Band & Gravel pfd (1) Boncr. Bromosgels o' Federal moun pid. (8) Fed.-Am. Co. s} Fed.-Am. Co. ‘pld. (6) Lanston Morotype (8) Mer. Tr. & Btge. com. (i0). . Tr. & Stge. pfd. (). Mergenthaler estimated $1 common share, against 95 | Natl. cents earned in 1929. Nauoml Broadcasting seeks control | Be: ! WENR. Pnbsbllr‘h & wmn Railroad —May dispose of roperties in | Wi Pittsburgh. 7 Richman Bros. Co. 1930 common share earnings, $5.12 against $7.07. Suny Frocks January sales off 9.3 per Slnwlnlgln Water & Power 1930 common share earnings, $2.65 against $2.34, before Federal taxes both years. Southern Railway 1930 common share earnings, $4.72 against $11.65. Standard Oil of Indiana reduces gas- oline price 2 cents for tank wagon and service stations in Chicago area; Shell Pmuleum and Cities Service to meet ’!’rlm Products 1930 common share earnings $5.00 against $6.67. e-mm;i $4.01 against $3.98 U. 8, Radio & Television—Earnings in Gypsum 1930 common share | S *Ex dividend. fi‘oox‘;l Closed. 15 extra. c12%4c extra. SHORT-TERM SECURITIES, (Reported by J. & W. Seligman & Co.) . Offer. Allis-Chalmers o Ss 1 . foub, S8 American Tel. & Tel, 5‘/:; 1943 1087 108 American Thiead 8%s¢ Baltimore & Oh! 9 BAtavien S0 Corn. | Bel e o Gaady, 56 081 10 Fet. Cors, 55 1938 1001 dian Nor, Ru it 9542 first_five flsul.hl.nont.hl reported over | 3¢2 $4.25 common per cent cut .in March 1. ‘Warren (8. D) ca share earnings, les, 1930 cmn.mon Gen Electric & Manufactur- & week with 10 3 effective B 102 1027 100 101 8414 White Star 8. s Line nhneholden B vote six month's moratorium asked b; Royal Mail Steam Packet Co. on Iflvi- dends on $25,000,000 White Star 'pref- erence shares guaranteed by Royal Mail. llome telephones are being instal in England at the rate of month. %32« 100 % l.led'-' 6,000 l',, D. C, FRIDAY, FEBRUARY 13, 1931. [ o BONDS o ] Received by Private Wire Direct to The Star Ofice UNITED STATES. (Sales are in $1,000.) les. High. Low. Close. 82 10124 10121 10124 82 10229 10224 10227 357 103 25 103 20 103 25 3 107 22 107 17 10722 16 11126 11121 11121 Lib3%s.... Lib 1st £%s.. Lib 4th 4} U 848’44 US4%s'52.. FOR!KIN. Argentine May 'll- Argentine 6s Ju '59. Argentine 6s A'57. Australia 4% '56.. Australia bs '55 Australia 5557 Austria 7s '43 Bk of Chile 6%s "61 Batav Pet 4%s "42. Belglum 68 '55. Bolivar 7s ‘58 . Bollvia 7s ctfs '69.. Bollvia 8s 4 Bordeaux 6s '34 Brazil 6168 '26..... Brazil 6%s'27. Brazil 718...... Brazil 8s 41 Bremen 7s '35 Canada 5s'31. Canada 58 '52. 0. Colomb 6s Jan '61.. Con Pow Japan 7s. Copenhag 435 '53. . Copenhag 58 ‘52 Cuba 5% '45. Czecho 95'52. Denmark 4%s'62. . Denmark 5% ‘55 Denmark 6s ‘42 Dutch East I 68°47. ‘| Dutch East I 65 '62. Finland 6s *45 Finland 7s '50 French 7s°49.. French Gvt 7%s 41 Gelsenk'chen 65’34 German 5%s'65 German Bk 6s'38 German 7s rep '49.. Greek 6363, ...... Hungary 7%s'44 Italy 7s'51... [taly Pub Sv 78 '52. Japanese 5148’65 Japanese 6%s '54. . Jugosl Bank 7s '57. Karstadt 6s°43. Kreug & Toll Lyons 6s'34.. Marseille 6s'34. . Mex 4s asstd 1904. . Mex 4s asstd 1910. . Milan 6%s '52.. New S Wales 6s '57 New S Wales 65 '58 Nord 6%s "50. Norway 5s ‘63 Norway 5%s '65. Norway 65 ‘43 Norway 6s ‘44 Norway 6s'52 Orient dev 535 '58. Orient dev 6s '53. .. Paris-Ly M 6s '58.. aris-Ly M 7558 Peru 6s '60 Peru 6s'61.... Poland 6s'40. Poland 7s 47, Poland 8s '50. Queenland 6s ‘47 Queenland 7s ‘41... Rhinelbe 7s '46. i Rhine West 6s'52 Rhine West 65 ‘53 Rhine West 7s '50 Rio de Jan 6% R Gr De Sul 6s ‘Gl Rome 6%s'52 Roy D 4s'456 w' Sao PauTls Sao Paulo 8s '50. Saxon 7s '45. Serbs-Cr-Sl 75 °62 Serbs-Cr-S1 86 '62. . Swiss 538 4 Toho El Pow 6s°32. Toho El Pow 7s '55. 8343 | Tokio 65 '5 Tokio 5%s61. Utd King 5%s37. Unit S8 Cop 6s'37 Uruguay 6s ‘60 Urug Vienna 6s°52. ... Warsaw 7s ‘58 MISCELLANEOUS. Abitibl P& P 6s'63. 81 7T% 76% Adams Exp 4s '48. Allegheny 55 '44. legheny 55 '49 1is-Chalm 58 °37.. Am Ag Ch 7%s'41. AmF P 5s 208/ AmIG Ch 5% . Am Int Cp 5%s"49, Am Sug Ret 6537, Am T&T cv 434839 AmWat Wk 6s '15 Am Wr Pap 6s 47, Arm & Co 4%s '39 Arm Del 5%s *43 At Gulf 5s°59. At Ref deb 55 '37... Bell Tel Pa 55 B *48 Beth Steel pm 55'36 Beth Strf 55'42... Bk Ed gn A 65'49. . Cert-td deb 6%s "48 Chile Cop db 55°47. Colon Oil 65’38 Col G&E §s May '62 Com Inves5%s "49. Com Inves 65 °48. CCMdistrfs ConGN Y 5%s 45, Det Ed G&R4%s'61 Det Edison 5s'40. . Det Ed rf 63 B "40. . Dodge Br cl 6s "40.. Duquesne 4%s ’67. . East C Sug 71%s'37 Fisk Rub §s 41 Gen Cable 5% Gen Motors 6s '37. ., Gen P Sv 51539, . Gen St Cas 5%s'49. Gen Th Eq 6s o Goodrich cv 63 *45. Good 1st 6%s '47. ., Goody'r Rub 68 '57. Hoe & Co 634s'34., Humble O1l 55 '37.. Hum O&R 6%s ‘62, IIBTI1stptGsA.. 111 Steel 4328 °40. .. Inland St 4% Int Cement 55 '48. . Int Hydro EI 65 *44. Int Match 68°47. Int MM col tr 6 Int Pap 6s ‘55 IntT & T 4% Int T&T cv 435 IntT & T 68’55 Kan C P&L 55 A 52 KanG&E 4%s'80. Kend 5%s"48 ww.. Laclede 6%s Lautaro Nit 6: . Lig & Myers 5s '51. Lig & Myers 7s "44. Lo war ‘41 s ex war Lorillard 58 '5. Lorjllard 5%s ‘37 Lorillard 7s '44. Lou G & Bl 5s'52 l(ecormnck 683 cKes & R6% Midvale Stl 5s 36 Mont Pow 58 ‘43 Mor & Co 1st 4%5.. Nat Dairy 6%s '48. Nat Rad 6%s '47. N Eng T 1st 5s '52. Y Edison 5s B'44 Z 2 45 68 i 22 15 120 4 89 16 5 71 97 88 22 2 40 41 15 15 6 9 1 1 86 100% 105% 110% 96 101% 105% 102 102 89% 964 120% 126% 86% 101% 9% 9% 94 1045% 81% 67% 91% 104% 104% 7 102% 1% 98% 104% 107% 105% 99% 98%4 80% 92% 106% 100% 81% 103 87% 63 84% 1 64 20 102% 5 108Y% 13 1 102% 103% 1 106% 35% 27 102% 13 105% 8 101% 6 96 2 105% 11 3 95% 60% 1 103% 1 101% N Y Tel 6549 Nor Et?whA'u. Nor St Pw 6s B "41. Pac G & El 5s *42 S-n-Am Pet 6s aramount 6s *47 - Lo Cloty: | Peoples’ Gas bs: 34 § Phils Co 58°67 o, | Phila & Read Pure Oll 5%s 'l’l Rem Arms 6s A '37. 19 Rem R5%s A’47.. 11 Rich Oll cal €s'44.. 23 109% 109% | Shell Un Of1 55 °47. 39 112% 112% [ Sinclair Oil 6%48'38. s 110% 110% | Sinc O 7scv A *37.. 31 31%|SincCrOG5%s 38.. xn 26% 26% | Sine P L 58 42, 41% 41% | Skelly Ol 53%s"39. . 104% 104% | Solvay Am 5s ‘42. .. 621s 63 |Sou Bel T&T 55 '41. 1 62% 63 |SW Bell T6s A'54. 12 66 66 |StOIINJI5s'46.... 76 86 86% | StOINY 4%s 36 95% 95% | menn EIP 68 A '47. 2 1 100% 100% | Tex Corp cv bs "44. 225 t 1one 105% | Untt Drug ev 58’53 22 Tom aort|U'S Rub st 68 47.. 10 e, Utah P& L 68°44.. 18 Utll Pow 5s'59 ww. 16 9 S o7 | Ut PowsksaT.. 6 16 94% 94% | Warn Br Pic 6s'39. 100 100 Warn Quin 6s'39... 4 78% 79% | Warner Sug 7s'41.. 1 110% 110% ggu: El d':‘blss 44.. 7 " ‘est Un Tel 6s'51. 1 Tonss 195 | West Unton 55 60.. 35 105% 105% West Un T 6%s'36. 21 102 102 ‘Wh Sew Mch 6s°’40. 5 102 102 Wil & Co 1st 6s°41 1 sou soy | WIBRATHSULL 3 526 B9% | ygstn SnaT 5818, 10 103% 120% 120% RAILROAD. 126% 126% " Atchison ad) 45 '95. 4 96 91% 91% | Atchison gen 45°95 30 99% 6% 176 |Atchiscv4%%s’41 7 119% gl% 85 At & Bir 4s°'33. 1 53 Toan 1024 1B & 0 4s 8. 21 9% 101 101 B & O 1st 55’48, o aelB&Oref5a'9s. B &0 58D 2000. 93% 94 |B&OP&WV 4541 104% 104% B & O Sw dy 5t 0. 81% 81% g & O Toledo 4s '50. oS & Me bs '55. S1ve S1% | Bos & Me oa 67 Bklyn Elev 6%s. 104% 104% | Bklyn Man 6s '6: 104 1085 Bklyn Un 1st 55 '50. BR& Pitt 434857, w m Bush Ter con 5s '55 R5% 86% | Can Nat 4%s°57 62 624 |Can Nat 4%s'68 61 624 |Can Nat 4%s 55 106% 1061 | Can Nat 43¢5 70 101 101 | Can Nat 5s July '69. 10 lnsu. 103 103 |Can Nat5sOct’63. 6 105% 1054 10515 CanNor 6%5db’46 5 11718 ¥ 105% | Can Pac deb 1 87 102% 102% | Can Pac 43s 46 . 91% 91% |CanPac 4%s’60... 12 99% 98 98% g;n ;ac :l t:slf 44, 12 104% 'an Pac 5s ‘54 llg;a :g;}z Car Clin & O 55 '38. 3214 214 Car Clin & O 6s'52. 2 32wt |Centof Gass59. - Cent Pac 4s'49. 8% gow|Cent Pacss 60 0% oo Ches Corp 58 "4 % 1Chi& O gn 43%s om 7 14 |ChI&O4%sBrss.. 34 1ot 90 90% [CB&Qgen 4s'58 89% |CB&Q4%s°17... 8214 | C B&Q 1st rf 55 71, 81% | CB&QIldv 3%s 981 | C B&Q 111 dv 4549, 61% | Chi & Eas 111 55 '51. 451 | Chl Grt West 45’59 Chi In&L gn 58 . 66 105 106 86 86 95% 95% 108% 1081 2 2 g - 5 40 3% 91% 91% I M & St P adj bs. 31 32 ChI&NW g 3%s'87. 10 78 55 168 | ChaNwn $358 2037, g::z‘?l\w rl:: 2037. 40 102 v 5°36." 5 108% &Prlll'll 56 99" 2% 92% CHMRI&P4%sA, " 106% 106% |Chi RIcv 434560 1003 100% | Chi Un Sta 43 81% 81% |C & W Ind cv 4s 5! 1025 102% | C & W Ind 5%s'62. 8 CCC&St L 4 %! 5;* Colo & Sou 4%s'35. 13 101% Del & Hudrf 4s’43. 4 96% Del&HudG%!'JL 5 105 5 4 18 Efll Gen 4s. Erie cv 5567 3 104% lflfli 104% | grig 55 '75. 84% 99% | Fla E Coast 55 '74. 98 |GrtTrstadb6s 36, 29 107 92%| Grt Trunk Ts 5 lll: 32% | Grt Nor 4357 9 10214 | Grt Nor gen 74 26, 1044 1044 | Gui Mobile 550 Hud & M adj 55 '57. 1081 106% | Hud & M re 5857, . 2 8T% 6 7% 17 99% 37 9 Kan CFtS&M 45’36 5 108"4 103% | Kan City Sou 3s '50 106% 106% | Kan City Sou 6s 50 1 4 MW 6 100% I 105 Market St 75 '40 100% 100% | Mich Cen 43 " 1 102 105 108 | Ail E Ry & L b8 '61. 10 101% lggz Jgg:: M StP&SSM con 4s M StPASSM 5o gta. 10 103% 1083% | MSPASSM 5% MEK&TprinisA. Mo Pac gen 4s'75.. 2 5i:l 13 10 95% 96 N Y Cent 4s°42.... m 98 99 [N Centaol ‘ent 4348 2013, She 2% INYCreim 552013, NYCentdbGl'l5.. NYCLScl3%s'93, NYC&StL4s'37. 20 99% 91 b3 |NY C&StL 4%s"78. 25 914 sk gan| NECESULEKs A 73 1o o NYC&StL6s 4 101% 0% 1084 | NY NH&H 3%s754. 3 T9% 8 107% 2 84 105% 106% { NY S&W gn 5s '4; 98% 984 | Norf South s ’ll . ll! Sta... Penn cy 4% 860, Pen; "41. 24 114% 114% 114% 2 103 o 27 106% 106% mm 103 UZ lfl?% 103 108% 102 88% 65 86“ 100 mo 101% 101% 100% 100% 77 7 98'% 98% 105% 105% 106% 106% 103% 103% 9% 9% 106% 106% 9% 99% 99 99 1% Ti% 101% 101% A T3% Ta% ~80 80% 69 69 65 65 105% 106% 104% 105 104 104 102% 103 108% 109% 29 29 100% 100% 4% Uy 103% 103% 95'% 953 99 99 19 119 53 53 97% 101% 101% 96% 97 107% 107% ¢ 103% 103% 103% 103% 9T5% 9% FINANCIAL PETROLEUM TRADE EXPECTS RECOVERY Leaders of Industry Are Now Hopeful of Better Conditions. BY BENNETT WOLFE, Associated Press Staff Writer. TULSA, Okla., February 13.—The pe- troleum industry largely is adhering to a policy of watchful waiting nowadays. Developments in Washington, where the oil situation has been receiving con- siderable governmental attention, and in various State capitals where Legis- latures are in session, especially Ok homa City, are being eyed with in- terest. While the industry as a whole, if the views of its leaders are held gen- erally, sees reasons for believing better times are in the offing, there seems to be a marked tendency to proceed tiously pending ehnnc-tlm of some- eroration. p ‘T’,&eq limiting of tm. ration, proj - ports, taxation and probable effe State and Federal lmu.lrlu——t.heu some of the questions with which '.l‘! industry, in lu different phases, is con- cerned. Return to Normal Seen. At the same time, there is a definite feeling, expressed by Mll fll the in- dustry, that a to normal conditions is 2 '!mm is no inclination, however, to forecast any e Industey 1o ol taoaen & pe- “The indus a pe- riod of serious ren:!nutmen ” G. Skelly, president of the nfl{y‘ ol Co., “but will emerge upon a more solid ;nd businesslike basis than ever be- ore. Skelly's view is typical of the atti- tude of many oil company executives. Here u'e wme of facts cited by for predictions of M'zrment ik 2 dl 1. Daily aves ufim eru Tage pI “aflhfiheuud ’9‘A 101% 101% 106 106 105 105% 105% 105% 117% 117% 87% 874 98% 32 111%. 105% 105% 924 621 851 851 100% 100% 98% _98% 95% 96% 100% | St L, Ir M’nt 58 '31.. 106% 106% drilling wells is more than 1,000 under that of a year agp. Chnnnemmhml-m m within striking distance o( the 40,000,000-barrel figure sat by the Amer- ican Petroleum Institute as ample in- v!nwr! for April 1, 1931. Curtailment o( slonprngnmby ‘more DIVIDENDS DECLARED NEW YORK, Pebruary 13 (#).— Regular. Pay- Mecord: Peb, Rap, Mic Shippérs Car United Nat NEW YORK, Fel 1 —According to a m« Commif o Siles. High. Low. Close, 1109 109 109 4 9% 9% 94% Readgn 4%s A 1. 46102 101% 101% Read Jer Cen 4s 5 96% 96% 96% RIAr&L4%s 5 100% 100 1 100% 100% StLIM R&G 4s'33. 11 99% 991 HIStLSWe 98% 9% 95% 99 9 103% 103% | St LS W 5s '52 101% 101% :.n :&A;’ |uv. Un Pac st 48'4T Un Pac 45 '68 Un Pac rt*l