Evening Star Newspaper, February 14, 1931, Page 12

A_I2 * ‘FIN COST OF EDUCATION | “WILL BE REDUCED Wisconsin Governor Plans| Survey to Eliminate Use- less Expenditures. BY JOHN F. SINCLAIR. Epecial Dispatch to The Star. NEW - YORK, February 14.—Philip La Follette, Wisconsin's 33-year-old Governor, has started off well. He has sccured the co-operation of the rallroads whereby the rallroads and the State share the expeme of making safe the railroad crossings throughout ‘Wisconsin. This will greatly increase the number of ‘work-rs in the State. At the same time, it will accomplish Whll every State, .in the Union must eventually du eliminate dangerous railroad grade on the main automobile lines vr travel. The young Governor has also decided to scrutinize all the expenses of the University of Wisconsin and cut out thg useless expenditures. He is convinced that too much educational machinery not only wastes money, but actually impairs the welfare of education. There is always danger that educa- tion will become perfunctory and pas- sive; where professors and ¢mployes do the work for a living—instead of for inspiration. Everybody seems to agree that there is something wrong with educlflenll methods today: thlt it is not doing the b that it lhoflld bs doing—of l'urply- ell developed sense of relative Import Duty Reduction Asked. The British government's note to France, Italy,* Germany, D:nmark, Norway, Sweden and Poland_yesterday, a reduction of 25 per cent I thelr import duties of various prod- ucts of British manufacture, is the first step that has been taken since the International ‘Tariff Conference at Geneva, which was called to bring about a better understanding among Euro- pean nations. Graham, president of the m'ull:mm of Trade, is understood to be back of the movement. Since the war, tariff schedules in Bu n countries have in from 50 to 100 per cent. Great Britain is the only free trade country left. Can Great Britain stand up under this increasing tariff movement? Not unless the various European countries agree to co-operate with British manu- r-ct.uren by favored nation agreements, in this fi * The Brlfilh Labor government be- lieves that Great Britain can survive as a free trade country if it receives any kind of co-cperation from other nations. In this, the Liberal party, led by Lloyd George, substantially agrees. But the Conservative party, led by Baldwin, is practically unan- Immu in the opinion that Great Britain must about-face, put up tariff walls as mh as other nations and trust to luck come out on the right side of the ledger. That's a le statement of a very i .lcdnplnpm b:vrgml Bfl:- ain's supremacy has been due largely to her free trade policy, backed up by very shrewd banking and business genius. 2 German Reparations. no Mun than to suspend repara- tion Should fl’lll occur, lnd it lllrry llkel, bw this Spring, if a :nd: 'ouid l! of major concern to the whole Yet no mnrnmen& gn.t:.;\lab .&ve in. No government want can- !IM pay. Still it is rally believed in Europe that war debts and rl- tions will have to be pruned d! Jot. But no nation wants to take l.h- initiative and bring it to a head. There is one institution which can do much to assist in this about and . that is the-Bank for International Set- tlements at Basle. Fun-l Bond Interest. Secretary of the Treasury Ogden L. mu: told the New York Bond Club recently that he did not believe $1,000,000,000 of United States Govern- it crl.lh. 'hu:h g ANCIAL. (Continued From Page 11.) Ghrer. 1001 Sales— High. 1 3 31% 144 26 T Stock and Dividend Rate. Pierce Oil. Plerce Petrolm (10c) Pillsbury Flour (2).. Pitts Screw (1.40)... Porto Ric Am T( A) PR Am Tob B. . Prairie Oil & Gas (2) Prairie Pipe L (15).. Pressed Steel Car. ... Proct & Gamb (2.40) Prod & Refiners. Prod & Refiners pf Pub Sv N J (3.40). Pub Sv N Jpf (5). Pub SvE &G pf (6). Pullman Corp (4) . Pure Oil. Purity Ba Radio Corp y Radio Corp pf A(3%} Radio Corp B (5)... Radio-Keith-Orph A. 213 Raybestos Man 2.60. 4 BRSec1CstkC (4. 308 Real Silk Hos (3). Reis (Robt) & (0. ... Rem Rand (1.60). ... Rem-Rand 1st pf (7) Reo Motor Car (80c) Republic Steel. Revere Copper & Rr Revere C& BA (4).. iteynolds Metals Reynolds Tob B (3). Richfield Rio Grand o FanaBenhiee ™ a3 Royal Du Safeway Stores (5).. Joseph Ld (2).... St L-San Fran (8). Savage Arms ( Schuite Retail Strs Schulte Retail pf (8) Seaboard Air Line. . Sears Roebuck 12% . Second Nat Inv pY. Seneca Coppe Servel Inc. harp & Do Shattuck ¥ Shell Union Oil Shubert Theate Simmons Co. .. Simms Petroleum. Sinclair Con Ofl (1).. Skelly Of1 Skelly Oil pt (6) Solv Am pr ww 5% . . Sou P Ric Suk (1.40). Sou P Ric Sug pt (8) South Cal Ed (2).... South Pacific (6) South Ry (8).. South Ry pf (5). South Ry M&O ot (4) Spang-Chalfant Sparks Withing (1). Spear & Co Spicer Mfg Stand Bran Stand Brands pf (7). Suund G& E (3%). Stand Invest Co Stand Oil Cal (h2 Stand Oil Exp pf (a? Stand Ol of Kan (1) Stand OII N J (12). Stand O1l N Y (1.60). Starrett (LS) (12%) Sterling Sec A Stewart Warner..... Stone & Webster (4) Studebaker (1.20)... Submarine Boat. ... . 2 Superheater (2%) Superijor Oil... Tennessee Corp(50c) Texas Corp (3)..... Tex Gulf Sulph (4).. Texas PC&Oil..... Texas Pac Land Tr.. - a3 SurlanBudamand e Add 00. High. Low. Close. BT I / THE EVENING —Prev, 1931~ Thermol Tide W Timken Timken Tri-Con Tri-Con Twin Ci Und-Ell Un Carb Un Pacil Un Paci Utah Coj Kl & Wabash Walwor Wess O Western Wright Youngs Div payments based on th “Unit ot ;nam; avle us. 5t T Pala this pearodo Stock and Dividend Rate. Thatcher Mfg (1.60) Tobacco Products. . Tobucco Prod A t95¢ Transamerica (1) Trico Prod (2%). Truax Traer (1.60) .. Ulen & Co (1.60). . .. Un Oil of Cal (2). Unit Aircraft. Unit Carbon (1) Unit Cigar Stores. .. United Corporation. . 263 Unit Corp pf (3) Unit Electric Coal 4 Unit Fruit (4) Unit G & Im (1.20).. Unit G & Im pf (5). Unit Piece D W ). U S Rubber. U S Rubber 1st pf B 6% 25% ) U S Steel (7). U S Steel pf (7). Unit Stores A. Univ Pipe & Rad. Utll PEL A (e12.15). Vadasco Sales Cnrp ‘ar Chem. .. Vulcan Det (4). Waldorf Sys (1%).. Ward Baking A. Ward Baking B. Ward Baking pf (7). West Pa EL pf (6)... West Pa Pow pf (7). 108 Western Dairy B. Western Md. Westing E & M (5 Westing E&M pf (5) Wextark Radio Strs. White Rock MS 4% White Sewing Mach. Willys-Overland. Wilson & Co A Woolworth (2.40) Worthington Pump. Wrigley (Wm) (4). Yellow Truck. . Zenith Radio....... RIGHTS—EXPIRE. Pac Gas & El. Mar 11 327 idend rates as given in the above table are the annual cash stoc) ock STAR, WASHINGTON, D. C, NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. Prev e. Close. 15 id Co. i'. 25' ] | .1") 101 537% tAs pf (6). Det Ax (80¢) Roller (3)... 2% 12% 131, 361y 10 92% t Corp. A t Corp pf () ty RTr (§4). 1ot-Fish (5). hide (2.60) fic (10). fic pf (4). pper (8) te 15t pE. Fow pf (5). RR.. 10 th Co (2). 3 3% z'm 614 bak 184 7 404 22 56% 96 116% 8 1 2 50 & Snpf (4).. 3 4 2 . 445 108 49 2 17% 141 9815 111% 1% 4 3% 5% 915 61% 931 19 “ 124 24% 4 n Union (8).. 508 11 60 1 2 Aeronaut. .. Spring (3).. 24 2u e latest quarterly or half-yearly declarations less 100 shares, tPartly extra. iPius 4% in Paid last year— d when earnea tock. £ Plus 8% in stock tock. nPlus 5% in stock. regular rote. ; | Baltimore Markets | | Special Dispatch to The Star. | BALTIMORE, February 14.—Potatoes, white, 100 pounds, 1.25a1.90; sweet po- tatoes, barrel, 2.00a4.00; yams, barrel, 2.50a3.50; beets, crate, 2.25a2.75; cab- bage, ton, 16.00a20.00; carrots, bushel, | 50a75; caulifiower, crate, 1.50a2.00; cel- | ery, crate, 2.75a3.75; lants, crate, | 1.5084.00; kale, bushel, 1.00a1.10; tuce, hamper, 75a1.50; peppers, cnw 1.00a2.50; parsnips, bushel, 1.00a1.20; | spinach, bushel, 50a80; tomatoes, crate, | 1.2585. turnips, bushel, 80a1.20; | apples, bushel, 60a2.00; per box, 1.25a 2.25; grapefruit, box, 1.50a2.50; oranges, | box, 2.60a3.00; tangerines, box, 1.00a 1.75; strawberries, quart, 37a47. | Dairy Market. Poultry, alive—Turkeys, pound, 36a40; | old, 20a32; chickens, springers, 26a33: Leghorns, 20a22; barebacks, 14al5; old hens. 18a23; Leghorns, 14a18; roosters, 12a14; capons, 28a36; ducks, 16a25; geese, 16a25; guinea fowls, each, 40a70; vlleons. pair, 20. Eggs—Receipts, 981 cases: nurby ment ‘bonds could be sold under 4 per cent, ur $1,500,000,000 at less than 43 p!;” qllesunn as to the rate of in- 'zrut the bonus bond issue would have carry in order to be successfully nmua in the United States is largely a question of how much assistance the Federal reserve banks would extend in the financing. It can be recalled that in war-time financing, money was cheapened for the Governz:nt" by lhlelul’lf]dflo-tllv Rue:vn: banks directly purc! ernms bonds themselves, and by rediscounting member bank loans on Government bond collateral. If the PFederal Reserve banks could be enabled to extend such similar help at the present time, the ratg. would be very materially raduced. ¥ So the question of the interest rate could be answered by saying—it depends upon how much help the Federal Reserve banks will give to such an arrange- ment. Huge transactions can hardly be ex- ted to be handled without Federal mzrve co-cperation. Needs of Employes. H. H. Swift, vice president of Swift & Co., chlcuk\;z m:;zoowker:! rhl;}}: com) employs people in vnrla:::y tivi pu; thinks the large em- ployers of labor should be “extra sensi- tive rghl. now as to the needs of em- loyes. . "we ought to be careful when we lay ple,” says Mr.. Swift. “These -re be llld off. I am ectly willing to admit that we have to do it, perhaps, now in a good many instances. But ought to have a reluctance about it, and we ought to see whether we can't transfer our men from one department to another, instead of laying them off. When we take on new people, we ought to try awfully hard to get previous Swift employes, they have been worthy employes and are out of work. ‘We have some responsibility to them. We ought to wait a day or two in ‘building up our gangs to get previous employes if we can, rather thln taking on new_persons.” Mr. Swift is one of the five active brothers of the Swift family lmchted with the company, which has shareholders and sales of over sm 000,000 annually. Still the Swift family does not have & voting control in the com| pany. (Copyright, 1931, by North American News- r Alliance.) BUSINESS FAILURES. By the Associated Press. allures showed a slight in- ‘Business crease last week as their chan was measured by the De, ent of ard, tragic times for the man 1O | Rome firsts, dozen, 18; current receipts, 17’z Butter—Good to fancy creamery, pound, 26230: ladles, 19a21; rolis, 16a 18; proem. 25; nore plcked 12a14. CHICAGO, February 14 u?n (United States Dzpartment of Agriculture).— Potptoes—Receipts, 86 carloads; on| track, 193; total United States &hip-} ments, 865; about steady; trading rather | slow: sacked, per 100 weight, Wisconsin, round whites, 1.30a140: fancy shade higher: ungraded, 1.15a1.25. Minnesota, round wmm 1.15a1.30; Idaho, Russets, 65; fancy shade higher; fow 1.40; Colorado, McClures, branded, 1.90a1.95; unbrand- ed, 1.50a1.75. et PABIS BOURSE PkICES PARIS, February 14 () —Trading was quiet and prices were firm on the Bourse today. Three per cent rentes, 88 francs 30 centimes. Five per cent loan, 102 francs 50 centimes. Exchange on London, 123 francs 941, centimes, The dollar was quoted at 25 | francs 52 centimes. FOREIGN EXCHANGE. (Quotations furnished by W. BY fibbs & Co.) Nominal goid Selling checks $8223 e’ lira. . Zurich, * franc Al dra S88E! 3 2 28 BRNE LTRSSl EER Oslo. crown..... Stockholm, crown TREASUBY CERTIFICATES. Ited by J. & W. Selisman & Co 00 125 1000 SHORT-TERM SECURITIES. (Reported by J. & W, !elllmln fi Co. Allis-Chalmers Co :|- ;,n'l ‘Ohio 171. 1953 . Con Olhl sggsss 32 Baitimore & n Pet Cln-dlln Nor' Rw. Ghi. Northwesiern : M ullnd 1! llJi ..4 552853 "'===_§§zs §§ 2328853850 ns! 8222882823233=33 rEE ST Sgu: WSS 28288 CHICAGO STOCK MARKET By the Associated Press. CHICAGO, February 14.—Following |is the complete official list of transac- tions in stocks on the Chicago Stock | Exchange today: STOCKS. Sales. 50°Allied_ Prod . 100 Am Com Pow ~ 300 Appalach Gas X : 150 Duauesne Gas Corp 1350 Elec Housenold. 50 Fed Elec 6. pf 150 Goldbllu 3 G Al 2600 Gi Lakes Dredse - 8200 Grigsby-Grunow 50 Harnischieger 300 Houdaille-5 2 4% | 5 3 4902 3 Dru 130 Libly-MeNeiii 50 Lincoln Prin 300 Lion Oil Ref 250 Marshall Field 30 Beabonra Bur 'S 16 bt 100 8eaboard Uil 100 Unll A OH1 100 t 1200 vmlv-fl are ot 1on tn Pr & Pubs pf 500 Gypsum 130011 8 Ramek e 100 Utah Radio 1on Tl Pow, & 1. OO & tha” 107 Util & Ind pf 300 Vortex Cup 150 Vortex Cup A’ 50 Waukeshia Mot e 5000 Northwest EI &s 41" Bond sales today, $25,000. TOBACCO SALES LARGE DANVILLE., Va., February 14 (Spe- cial).—With- less than 10 selling dlyl bef ille tobacco market closes, more than 45,000,000 pounds of lu( have been dhpoud of to date this Figures unced _yesterday shu' thl a total of 45.518 05! W\lnfll T or $4, Trus of tobacco have 009.01, the average belnl Du the past week 1425583 mlfli were sold for §78,020.46, an average of 547. , | ter and fat cows steady. but all heifers "glum weights, 200-250 pounds, Markets at a Glance | NEW YORK, February 14 (#).—Stocks | trregular; Loew's responds to bullish {activity. Bonds firregular; prime issues steady. Curb easy; late rally reduces | small losses. Foreign exchanges weak; Europeans drop, led by Sterling. Ootton lower; beneficial rains. Sugar easy; in- | creased spot offerings. Coffee higher; European buing. States Department of Agriculture).— Cattle, 100 head; compared week ago, strictly good and choice weighty fed steers about steady: all other unevenly 2550 lower; | scarce; ,few above 10.00; top heavies, 11.25; bulk, 7.25a9.50; average cost at | 8.46 being a new low since 1924; best | yearlings, 10.65; heifer yearlings, 9.50; | replacement cattle dull and weak; cut- | unevenly 25a50 higher; vealers about 50a75 up. Sheep—Receipts, 5,000 head, including 4,500 direct; for wesk, 85 doubles from feeding stations, 18,500 direct; today's market nominal; compared week ago, fat lambs fully 25 higher: spots up more. sheep and feeding lambs strong to 25 | choice lambs reached 9.60, then dmpped to 9.15, with market barely stabilized as week closed; closing, bulk, good and choice lambs, 92 pounds down, 85029.00; heavier weights, 8.25a8.50; | native bucks, 7.25a8.00; throwouts, 6.00a 7.00; fed yearlings, 7.00a7.75; fat ewes, 4.00a4.75; “week’s bulk, feeding lambs, 7.5028.00. | *Hogs, 13,000, including 12,000 direct; | steady to strong on limited o!!“rm;s. | 140-200 pounds, 7.60a7.85; top, 7.85; 210-310 pounds, 6.40a7.65: pigs, 7.25; packing sows, 5.15a5.90; | pared week ago mostly 25a35 lower; shippers took 2,000; estimated hold- overs, 1,000; light lights, good and | choice,, 140-160 pounds, 7.65a7.85; light weights, 160-200 pounds, 7.60a7.85; me- 6.758 heavy weights, 250-350 pounds, 6.35a7.00; packing sows, medium and good, 275-500 pounds, 5.65a6.15; pigs, good"and choice, 100-130 pounds, 6.75a bulls steady and U. 8. TEEASURY BALANCE The United States Treasurybalance announced today as of close of business February 12 was $150,504,345.76. Cus- toms receipts for the month to dat> were $10,790,462.96. Total ordinary ex- penditures $8,621 a:: 76. NEW YORK BANK STOCKS NEW YORK, February 14 (#)—Over the counter market America Bk People's Natl... ankers Guaranty’ Hibernia Irving ... Manufact Westehester Tiie & T INVESTMENT TRUSTS the-counter market: Am Composite Tr Shrs Assoc Stand Oil o A% BL T Canitn Chain & Gen_Equiti Chain Store Share Owrers Inc. um & Foster Inc B. mvmlnea Trustee gnnm A Bid, Asked. Ta'y 8 CHICAGO, February 14 (#) (United | An; NEW YORK, February 14 (#).—Over- A SATURDAY, PRIME BOND LIST IN STEADY TREND S. Group Sells Off—For- eign Dollar Credits Re- main Strong. {u. BY F. H. RICHARDSON. Special Dispatch to The Star. NEW YORK, February 14.—Bonds were irregular today in quiet trading. United States Government issues were liquidated in small amounts, forcing prices down 1-32 to 4-32, but prime corporation bonds remained unchanged, or in a few cases, advanced fractionally. Foreign dollar _issue continued to show strength. Money rates were un- changed. The only market factors of impor- tance today were indications of large new financing to come. The offering by Brooklyn Edison of $10,000,000 in new stock indicated that Consolidated Gas, which owns 981, per cent of Brooklyn Edison stock, might have to do some financing to take advantage of the rights on the new Brooklyn Edi- son stock. Consolidated Gas has had in preparation for some time a $100, 000,000 issue of bonds, but these have “ | been postponed because of market con- ditions. The Street now has it that they will be offered next week. In ad- dition the Baltimore & Ohio an- nounced the sale of $35,000,000 of 4 per cent notes, maturing in August, 1932. In connection with the application of the Pennsylvania Railroad to raise bond indebtedness by $150,000,000. It was announced that the bonds will not be issued at this time, if authorized, but held until needed. Th: road has few important maturities in the near future, and its margin of earnings over fixed charges was satisfactory last year, even if $150,000,000 of new bonds were added. ‘The market was not affected by the action of the Interstate Commerce Commission in seeking to recapture $15,849,344 in 1924, 1925 and 1926 earn- ings from the Norfolk & Western, Prime rails were firm, including Atchi- son general 4s, Atchison 41:s, Quincy general 4s, Chicago & Northwestern 3l.s, Great Northern 7s, New York Central 4s and Frisco A 4s. Second- grade carrier obligations tended lower. Other domestic issues moved irregu- larly. Gannett 6s gained 3 points. Postal Telegraph 5s were off fraction- ally. So were Armour of Delaware 5'.s. In the foreign list German govern- ment and municipal issues held firm. Australian issucs steadied. Municipal issues announced for next week amount to only $22,000,000. There was further marking up of these bonds today, and dealers foresee a shortage very soon unless market con- ditions are sufficiently clarified to per- mit the distribution of some. of the large amounts of bonds authorized by : electors last Fall, Washmgton Stock Exchange SALES. Capital Traction 55—$1,000 at 82. Washington Gas 6s “A"—$100 at 1013;. | Capital Traction Co.—5 at 36, 5 at 36. Wuhlngwn Rwy. & Elec. 45—$1,000 at C’*lumbin Country Club 5!'25—$1,000 at limwn Monotype—8 at 107. AFTER CALL. Capital Traction 55—$500 at 821. Georgetown Gag 55—$500 at 1031, Nltéo;ul Mtge. & Inv. pfd.—40 at 5, 140 at 5 Capital Traction Co.—16 at 36. Union Trust—15 at 211, 20 at 210. UNLISTED DEPT. National Press Bldg. 5125—$2,000 af 70. Bid and Asked Prices. BONDS. PUBLIC UTILITY. & Telga. 4125 '33 JTel, & Telga. 412s 39 & Te Amer. Tel Amer T finished steers relatively | b Washinglon Gas 53 Wash. Gas 6s, h. Gas 6s. Wash. Rwy. & Elec. 4 MISCELLANEOUS. & Ross, Inc. 6'us evy Chase Glub 5'as. Columbia_Couniry’ Club 5} [ Mig. 65...... M Wash. Cons. Tit STOCKS. PUBLIC UTILITY. & Tel. (9) Co. as Light Co. Nortolk & W. Bt Py 6 Barber cl as... Amer. Tel Wash. Rwy. & NATIONAL BANK. Capital (14).. Coiumbia (12} Gommercial lxllrrned: 10y District (&) . k Mmonnhun as). Riggs (1S5). wSm.m. (a3’ TRUST COMPANY. Amer. Sec. & Tr. Co. (15). Continental Trust (6) .. National Sav. & Trusi iid Prince Geors & Tr. hion Trust: @9~ Washington Loan & Trust’ (14) SAVINGS BANK. Bank of Bethesda (65) Commerce & Savings (i East Washington (12 Potomac (10) Washington Mechanics (20)". FIRE INSURANCE. American (12). National Unig TITLE INSURANCE. Columbia (6h) Real Estate (6h) Title & Inv Co. Md. com m@czl.unzf)vs Barber & Rose, In T, Mergenthaler Natl. Mige. & Peosies Driis SIores ? “Ex dividend. b Books closed. xi xtrs 17ac extia. Unlisted Depnr(ment. (These sccurities not listed under exchange . Asked. 90 b 4 Netional Bress Bias: isi Vs ngton Savings lnnon e TR Bail Ciul Base fll‘l!ll-ufllflflfl Sav. Banl FEBRUARY 14, 1931. [ v BONDS™ Received by Private Wire Direct te The UNITED STATES. . (Sales are in LIb3%s.. ..o Lib 1st 4%s Lib 4th 4%s US3%ks'43.. 0 S3%RsUT.. 3%s..... s 44, %5'52.. Suien:® Hieh “Low. 117 10126 16 10229 338 103 24 11028 6 102 19 130 10516 113 107 14 54 11121 Us US4 US4 Close. 101 22 101 22 10226 10226 103 20 103 20 1028 1028 10219 10219 105 14 105 14 1076 1076 118 1118 FOREIGN. Sales. Argentine May '61. Argentine 65 Oc 59 Argentine 6s A '57. Argentine 6 B '58. Australia 4%s '56 Australia 5s ' Austrajia 58 '57. Austria is'43. Bk of Chile 6% s '61 Batav Pet4%s 42, 4 Belgium 6s '55. .. Belgium 6%s ‘49, Belgium 7s * Belgium 7s '56 Bolivar 7s '58. Bolivia s ctfs '69 Bordeaux 65 ‘34 Brazil 618 '27 Brazil 7s Brazil 8s 41 Bremen 7s '3, Canada 58 '52. Chile 6560, Copenhag 58’ 52. Cuba §5%s’ Czecho s Denmark 415 '62 Denmark 5%s ‘55 Denmark 68 '42. Dutch East I 6s Dutch East 165 '62. Finland 5 French Celsenk'chen 6s '34 German 5%s " German Bk 6s German 7s rep *49 Greek 6563, Halti 65 '52. Irish Free St 5560, Italy 78 '51. .. Italy Pub Sv 75 52, Japanese 5% '65 Japanese 6% ‘54 Jugosl Bank 7s <arstadt 6s°43. .. ug & Toll 58 59 Lyons 65 '34 Marseille 65 '34. Mex 45 asstd 1910 Mexico 55 A ‘45, . Milan 6%s ‘52... New, S Wales 6s ew S Wales 6558 K - 8 BoneSen = wealoman Saun e Orient dev 5%s Paris-Ly M 6s '58 Paris-Ly M 8 Peru 6560, Peru 6s'61. Peru 7s Poland 7s 47, Poland 8s '5 Queenland 6547, Queenland 7s '41. Rhine West 6s " | Rhine West 65" Rhine West 7s " Rio de Jan 6%s '52. R Gr De Sul 63 '68. . [ o woSeadh ae - Roy D 4s 49 ww. Sao Pau 7s '40 rets. Sao Pawlo 8s'36... Sao Paulo 8s '50 . Saxon 7545, Selne 7s'4 Serbs-Cr- Serbs-Cr-S Sweden 5%s 54 Swiss 5%s'46. .. ‘Toho El Pow 7s '85. Tokio j Tokio 5%s 61 Utd King 53537, Uruguay 6s'60. Vienna 6s 5! Warsaw 7s " Abitibi P & P 5553 Allegheny 5s 44. Allegheny 55 '49. Allis-Chalm 55 '37. Am Ag Ch 7%:'11. 23 Am Int Cp 5%s'49. Am Metal 5%s 30.. Am Sug Ref 6 Am T&T cv Am T&T 58 . Am T&T c tr 55 '46. Am T&T 588 £'60. . Am T&T 5%s 43... Am W Wks 5534 Am Wr Pap 6547, Arm & Co 4%s Arm Del 5%35 "4; Bell Tel ’a 55 B "48 Beth Steel pin 5536 Bush T Bldg 5s '60. Cert-td deb 5%s '48 Chile Cop db 55 '47. Col G&T 55 May '52 Com Inves 5%s 43, Com Inves s '48. ConG N Y bl%s'45. 25 C Am Sug col 85 31 10 Denver Gas 5s°51.. 1 Det Ed G&R1%s'61 5 Dodge Brcl 6s '40.. 12 Duquesne 4%s'67, 17 Gen Cable 5%5°47.. 3 Gen Motors 6s ‘37 Gen P Sv 5145 39 Gen St Cas 5138 Gen Th Eq Goodrich ¢ s Good 1st 6%s '47 . Goody'r Rub 55 '57. Hoe & Co 6%s34.. Hum O&R 5%s 62. M BTIstpt5s s Inland St 4% Int Cement 5s Int Hydro Int Maich 55 47 Int MM col tr 6541 Int Pap 55 A *47. Int Pap 68 '5 InyT&T 4%s 10 Int T&T cv 41539 10 It T&Tb8'55.... 11 KanC P&L5sA'62 & KanG & E4%s'80. 14 Lac G St L 5s 34... Laclede 5%s C 53 Lautaro Nit 63 '54.. Lig & Myers 58 '51. 2 10 1 Lorillard 53%s '37. Lou G & El 5s '52. MckKes & R b%s Midvale Stl 55 '36. . Nat Dairy 5% Ne N Y Bdison 58 B 44 N Y Ed 1st 63841, NY ELH&P 5s’48.. 2 N Y Tel 4158 N Y Tel 634 N Y Tel 65 4 Nor Am Ed 55 5 Pan-Am Pet Paramount . Pathe Exch n'fl Phila Pet 5% 839, Pillsb F M 6543 | Pos Te1 & C 5s '53. Pub Sv G 4%5'67. Pub Sv G 4%s'70.. High. Low. Close. 90% 90% 901 90% % 106% 106% 8 84w 96 95% 103 1031 110 109% 13% 113 110% 110% 30t 304 27% 27 104% 104% 62% 66 854 9615 1057, 101% 103 106 105% 102% 1% 1047 106% 33% 2% 924 1067 106' 106% 81% 81': B1% 88 87% 88 64% 64 614 MISCELLANEOUS. 7 ss'& 77 B51y 84 ki 101 4 1024 0 70 90% 5% 4 1081 102 1013 101% 80 103 101 24 106% 114% 102% lflm Rich Oil cal 6s'44.. 13 Shell Un Ofl 55°47. 3 Sinclair Ol 618’38, & Sme O 7scy A'37.. Sine Cr 0 5%s'38. . Sine P L 55 "42 Solvay Am 5s SW Bell T bs A ‘54 StOIl N 3 58 "4 StOIINY 4%s Tenn ELP 63 A *47. ‘Tex Corpcv 58 '44.. b Unit Drug cv 55°53 U S Rub 1st 5s'47.., Utll Pow 58 59 ww., 1 Uil Pow 5%8'47.. Walworth 6s A "45. Warn Br Pic 6s '39. Warn Quin 6s°39. .. West El deb 58 "44 West Un Tel 5 West Union 5s Wil & Co 15t 68 '41. Ygstn Sh&T 6878 1 8 o 5 3 7 8 5 3 % 1 0 6 1 n H 9 31 12 22 Atchis 45 1905-55. . Atchison adj 4s'95. 1 Atchison gen 4s'95 18 Atchiscv 416541, , Atch Ariz 4125 '62 At & Bir 4s'33 AtCLcol 4852 B&O4s'48....... B&Ocv 414533, B&O4%s"60. . B&O 1st 5548, B &O 58 D 2000. B & O 6595, B&O P&WV ds 41 Bos & Me 55 " Bos & Me 55 '67. Bklyn Man 6s.'68. . Bklyn Un 1st 55°50. BR& Pitt 415 '57. Bush Ter con 55 ‘55 Can Nat 414854, .. Can Nat 415857 an Nat 4155’68 Can Nat 4% 'an Nat 4% 8 ‘63 Can Nat fis July ‘89. Can Nat 5s Oct *69. Can Nor 6%s db 46 Can Nor 7s deb '40.. Can Pae deb 3 Ches Corp 5s '47 Chi & O gn 4%s'92, Chi& O 4158 A'93. . Chi& O4%sB"95 Chi & Alt 3s. Chi & Alt 315 % | Grt Nor 428 77 E. CB & Q gen 45 5! CB&Q (11dv 4549, CB&Q st rf 5571, Chi & Eas 11l 55 Chi Grt Wast 4 Chi M & St P 4 Chi M StP&P 5575 Chi M & St P adj 5s. Chi&NW g 3%s '87. Ch&Nwn 4% 5 2037. Chi & NW con 4%s. Chi & NW 6 36 Chi Rwys §s 2 Chi RI&P gn 4 Chi RI & P rf 4834 ChiRI&P4%sA. ChiR Icv 4%s 60, Chi Un St 55 '44. C& W Ind ¢v C& W Ind b CC&St L 4 lev & Pitt 43%s Colo & Sou 4125 Colo & Sou 4%s '80. Cuba R R 58 5! Cuba RR rf 7%s ‘36 Cuba Nor 5%s '42. . Del & Hud rf 4s '4:4 D&RGr4% D&RG W 555 DRG& W st 55 Det Unit 4125 '32. Erfe 1st con 45’96 Erie cv 5567, Erie 55 '75. Fond J&G 414552, GreTrsfdb6s” Grt Trunk 7 Grt Nor 448 5 2 4 Grt Nor 1st 55 Grt Nor 58 '7: Grt N Grt Nor gen Gulf Mobile 55 °50. . Hav El Ry 5%s'51. Hud & M adj 5 Hud & Mrf5s°5 111 Cent 45 °53. 111 Cent 4%s ‘66 111 Cent 58 11l CCSIL&N 58 A . Int Rap Tr 58 '66. Int Rap Tr sta ‘66 Irt Rap Tr 7s Int & Gr Nor 5 5 Int &G N ad 6s°52. Kan City Sou 5s '50 Lake Shore 4s '31.. LehV cv 4%s 2003. Leh Val 5 2000. ... L& N uni 4540, L &N 4%s 200; L &N 1strf53%s. Market St 7s'40. .. Mich Cen 414579, Mil E Ry & L 55 '61. M StP&SSM 5s gtd. MSP&SSM 5%s '49. MK & T 1st 4590 MK & T adj 58 '67 MK&TprinbsA. Mo Pac gen 4s'75.. Mo Pac 55 F '17 Mo Pac 55 G " Mo Pac 58 H Mo Pac ref 5s'81. Nassau Elec 45 '51. 1 1 1 1 6 % 7 5 7 6 5 12z 3 41 NYCen3ts'9l... Y Cen 4s°98. e im 53 2013. NYC&StL4s'37. NY C&StL 4%s"78. NYC&StL6s'32 NY NH&H 4%s '67. NY NH&H clt 6s. .. NY Rys6s A '6 NY St Ry 6%s5'62.. NY W&B 4%5'46. . Norf South 55 41. . Nor & Wn cv 4s 96, Nor Pac 38 204' Nor Pac 4897 Nor Pac 4%s 2 Nor Pac 5s D 2047. Nor Pacr1 6s 2047. Oreg-Wash 4s '61.. Penn 4s '48 su 3 19 1 0 1 1 1 17 0 % A ) 60 PeroMlI(St 56 PCC&StLs5s Por R L&P 1% RIAr&L 4%s'34. StL IM R&G 4s'33. StL&SFin StL&SF 4%s'78. St L&SF prIn 5s B. StL&SK gen 55 '31. StLS Wev4s'3z.. StL S W 1st 45'89. St P Un Dep 58 '72. San A & A P 45’4, Seab A L rf 4s'49.., Seab A L 4s st '60. . Seab A L cv 6345, . Sou Pac col 4s"49. . Sou Pac ref 4s °5! 2 13 11 1 Tex & Atk b¥a! Tex & bsC™ g ac 53 D80, % | Un Pac rf 4s 200 Sales. High. 654% 3 106 FINANCIAL. Low. 65 96 99% m o1 984 984 98% 98%, 8715 87w 24 T 99% 89% 97 106 95% 9574 1 102% 102% 1 101% 1014 93 93 6214 624 0% 90% 94 94 2 mxw 103% Ti% 94 94% 941 95 52 9315 5 lOOh 100% 86 96 86 95t 3 100% 100% 15 100% 100% 6 1067 106% 99% 99% 911 91 6 101% 101% My MY 2 105% 105% 52 51 3 104% 104% 12 112% 112% 95 4% 99 99 98 9% 17 101% 101% 9 105 20 109% 109% 3 104% 104% 2 109 1 107% 107% 3 100 104% 108% 100 99% 99% 86 86 83 823 7 101% 100% 2 101% 1013 19 100% 100% 85% 85% 2 110 10 lfll% 1081 2 116 1 105% 105% 116 9813 98 8 98 48y 3% 95% ’ll’lltrl&r‘ool 15 iK1 v.vlfluu-u. Clome: | charges, srock pxcaes] FAET[]RSIN BAKING * | TRADE FIX PRICES Wages and Dlstrlbutlon Charges Declared Important in Bread Costs. BY WALTER BROWN. Written for the Associated Press. CHICAGO, February 14.—Bread prices remain snobbishly aloof ‘from the lowly wheat arid flour because of an environment of stable wages and con- stant distribution and advertising sald W. E. Long, bakery analyst and statistician of more than 30 years' experiepce. Bread consumption now, he observed, is off 20 per cent from the normal na- tional usage of five ounces a day per person, or 37,500,000 pounds for th¥ country. From his most recent survey compiled last month of virtually all the ind:- pendent bakeries of the United States, JLong found that the wholesale price of bread was $6.74 per 100 pounds, about 100 loaves. Three months ago the wholssale price was $8.00 per 100 pounds. The average profit, Long's figure shows was 16 cents per 100 pounds. Industry on High Plane. Luxuries of industry, high speed mlcmneri sanitary factories, motorized delivery, wrappers and ths use of better ingredients have lifted the baking industiy to a high financial plane. Ten years ago the average bakery investment was $50,000. Today it is $100,000. A decade ago bread was de- livered with a horse and wagon at 31 cents per 100 pounds. Motoriz:d de- livery costs 69 cents for each 100 pounds. The data are from the Long figures. As an indication of how widely bread may vary in content. Mr. Long said that of four grades of flour used in bread making there may be a difference of $3 a barrel, which yields 300 loaves. ‘There are dozens of shortenings, some inexpensive but of reduced butter-fat 654 rtion and others costly but rich in f-u 2 107% 107% 107% 111 981 988, 20 100% 100% 100% 2 106': 105% 106% 12 1087 108% 108% 27 111% 111% 111% 871 Milk and eggs vary in price and quantity and salt may run from $8 to $38 a ton. The Chicago analyst's statistics showed that in 1913 with wheat at Kansas City selling for 87 cents a bushel, bread retailed at 5.6 cents and | the average wage of all bakery workers | Was $16.36 a week. In 1920 with wheat at its p2ak, $2.46 in Kansas City, bread was 11.5 cents a loaf and wages average $37.40. Last May wheat had fallen to 99 cents at Kansas City and loaf bread had followed to 8.8 cents a loaf, but ‘wages were higher, $38.99. Experiment Cited. Mr. Long contends bread consumption does not increase with low prices un- less the richness of the loaf s pre- served, and he illustrates it with an experiment his company made last | Summer in Detroit. He selected 31 representative work- ing class families, the largest bread con- sumers and for 30 days he su them with three grades of bread, c! ing every two days. One grade was subnormal in quality of flour, shorten- ing, milk and other commodities. A second was normal and the third was the richest in food vaiue that the in- dustry knew. Although, he said, none ol nu families voiced an expression of satisfaction or prefeorence, it was Iound that consumption was 92 per cent greater on the days the rich loaf was distributed. :|JANUARY DIVIDENDS REVEAL INCREASE Total of $567,866,546 Well Ahead of December—Figures Given by Industries. Cash dividends were paid by domestic total of by industries follow: Advertising, printing and pub- lishing L . obiles Au(omoblle paris utomobile tires 3. Investment trusts. " holding and L Ainance corporations . 2 5 8338338 5 24253 cco Utilities. eiectrio light. ¥a: Utilities, telephone and_tele Utilities, traction and bu Woolen goods . HESH Total . . $567.866.546 FOILS BANK BANDITS, INVESTS $500 REWARD ‘There are two parts to this story that will interest every bank:r. The says the Banker's Monthly, cons Ernest Glenn of the Plaza Bank of Commerce in Kansas City. The bank was held up by bandits. ‘The hold-up was frustrated by the throwing of a gas bomb by Mr. Glenn. In appreciation of this, nine insurance fund of ssw By the Associated Press.” contrast to the sharp slump earlier the week. 95% 111% W Y e,