Evening Star Newspaper, February 18, 1931, Page 14

\ FIN HUGE SN ISPAD | ‘INCOAL INDUSTRY Workers Get $750,000,000, While $133,000,000 Is Used for Materials and Supplies. Bpecial Dispatch to The Star. NEW YORK, February 18.—The coal industry of the United States spent more than one billion dollars in 1930 for wages, materials and supplies, ex- plosives, and purchased power and for merchandise payments for resale in company stores, Coal Age reports in its annual review of the industry. Expen- ditures for materials and supplies were in excess of $133.000,000, of which the bituminous industry spent $97,000,000 and antbracite producers $36.000,000. Mine workers last year received more than $750,000,000 in wages. Expendi- tures for purchased power cxcceded $41,000,000. : Based on 1930 production figures in the various coal-producing States, th average per ton cost of materials and supplies shows 18.5 cents for Penn: vania, which produced 123,240,000 tons, while West Virginia, with an output of 121,318,000 tons, had an outlay of 22.0 cents per ton. ‘The Illinois materials and supplies bill for 52.804,000 tons averaged 19.0 conts; Kentucky, 23.0 cents, with 50,711,000 tons; Ohio, 16.0 cents, with 22,790,000 tons; Indiana, 18.5 cents, with 15,583,000 tons: Ala- bama, 165 cents. with an output of 14,933,000 tons: Virginia, 10.5 cents, with 11.485,000 tons: Colorado, 28.0 cents, with 8054,000 tons: Wyoming, 440 cents, with 5623000 tons, and Tennessee, 20.5 cents, with 5,350,000 's average cost p:r ton was 250 cents, based on a total production of 3,- 393,000 Missowri, 145 cents, with 3 398,000; Maryiand, 37.0 cents, with 2.- 649,000, and Montana, 48.0 cents, with 2,664,000 tons. Kansas coal producers paid 11.5 cents per ton for materials and supplies to produce 2.348.000 tons; Oklahoma, 205 cents, with 2.516.000; New Mexico, 35.0 cents, with 1.880.000, end North Dakota, 13.5 cents per ton for 1,862,000 tons. AUTO PRODUCTION IN UPWARD TREND Many Manufacturing Plants An- nounce Larger Output, as Sales Show Gain. By the Associated Press. NEW YORK, February 18.—Advances in production by several automobil> manufacturers over schedules originally planned for February indicate a sub- stantial increase in Pebruary production by the industry a survey by Dow, Jones & Co, says. Ford currently is producing upward of 17,000 units daily for three days a weck, indicating a February output of around 84,000, compared Wwith 55,182 units in January. There is said to be strong likelihood #hat the present schedule may be stepped up before the close of the month. Ch-vrolet Motor Co.’s tentative sched- ule -of 67,429 units ror the current month, exclusive of the Canadian schedule. is likely to be exceeded, ac- cording to W. S. Knudsen, president. Oakland Motor Car Co. has just placed a second asscmbly Hne in oper- ation, and the company's revised sched- ule for February, March and April calls for 6730 additional cars. Buick Motor Car Co.’s revised sched- ule for Pebruary calls for 7,907 cars, a slight increase over the original plan. Olds motcr works has made two suc- cessive advances in its February sched- ule, placing production 50 per cent above the original schedule. Cadillac-La_Salle shipped 1,223 cars in January and has stepped up produc- tion schedules materially for the com- ing Spring months, J. C. Chick, general sales manager, said. : Hupp Motor Car Corporation shipped 1,561 cars last month, and in its Feb- ruary schedule calls for a substantial crease in production. Auburn Automobile Co. has scheduled 4,650 units for its February production, against total shipments of 2,014 cars last month. Graham-Paig> has advancad its Feb- | ruary schedule to 2,400 c2rs, an increase of 300 over the original figure. 4 CHEMICAL PRICES POINT TO PRE-WAR LEVELS, Bpecial Dispatch to The Star. i NEW YORK, February 18—Lower contract prices for heavy chemicals | which' were quoted in the final quarter of 1930 and which, in some cases, were highly emphasized after the turn of the year, because of the keen competition which developed, foretold a lower aver- e price level for the current year, emical and Metallurgical Engineer- ing_reports. Price-cutting was less spectacular in the last month. Nevertheless, the down- | ward trend of values was unchecked | and, in_addition to concessions from | quoted figures, there were open revi- | slons in different sclections which carried the weighted index number to 89.16, the lowest point recorded since the pre-war period. This compares | with 89.68 for December and 98.57 for January, 1930. Ammonium ’ sulphate, benzol, ethyl | acetate, tri-sodium phosphate and sul- phate of alumina were lower in price | during the month. Tin salts and lead | oxides also were reduced. Turpentine gold at higher levels. The fact that price trends generally were lower last ¥y ccounts, in part, for the drop in values for chemicals, since raw materi- | als are now available at lower prices than prevailed a year ago. Such basic | chemicals as soda ash, sulphuric acid | and agua ammonia have sold on more | favorable teYms than in 1930. As they enter into production of various chem- ical products, these price changes have had a_widespread effect on chemical | Production costs in general. | With contract buyers well covered and with low price levels established, it is evident that the market is in a better position to resist any continued general decline. Although improvement may be expected in the industries which | are large consumers of chemicals, the | rate of improvement will be retarded by | the spotty conditions existing in cer tain branches of the industry. WAGE BILL OPPOSED. By the Associated Press. The Associated General Contractors of America are ¥oloings Vigorous oppo- sition to the pending Davis-Bacon prevailing wage rate bill through the medium of conference with Government department _heads, including Secretary of Labor Doak. Und?#r the meesure as it now stands, the assoclation charges, the entire Federzl building program would be thtown into the field of speculative op- erations, resulting either in excessive costs to the taxpayers and unwarranted profit of the contractor, or else in in- eqtiitable losses and possible bankruptcy to _the latter. ANCIAL.. THE _EVENING STA NEW YORK STOCK EXCHANGE (Continued From Page 1 1931 . Low. 8614 Stock and Sales — Dividend Rate. Missouri Pac pf (5). Mohawk Carpet. Monsanto Ch (211 Montgomery Ward Morrell & Co (4.40) 4 Mother Lode. Motor Meter G 5 Motor Products (2).. % Motor Wheel 17 Mullins Mfg. ... Mullins Mfg pf (7) Murray Corp. . Myer (F E) & Br (2) sh Motors (4). 105 at Biscult (2 80) at Bi . Nat Caslh Reg A (3). 4 Nat Dairy (2.60). Nat Dept Store. Nat Dist Prod (2). at Enam & Stamp Nat Pow & Lt (1) Nat Radlator. atTea (1) evada Copper (1) i Newton Steel. . N 'Y Central (8) N Y & Harlem ( EY momanFealanmBaSnwaRP - N Y Steam pf (6).... 108 N Y Steam 1st pt (7) 208 North Am Aviation.. 9 Nor Am (b10%, stk). b1 North Amer pf (3).. 5 North Am Ed pf (6). Northern cifie (5), Norwalk Tire & Rub. Ohio Ol (1) Oliver Farm Eq Omnibus Cor . o 1ie8). . 3 ph pf(8). 20 Otis Elevator (23%) 2 Otis Steel. Pacific Coast. Pacific Gas & El (2).. Pacific Lizhting (3). Pacific Mills. .......2008 Pacific Tel & Tel (7). 50s % Pack Mot Car (60¢).. 33 Pan Am Petroleum 1 Panhandle P& R.... 1 Paramount Pub (4) ,pm51 Park Utah..... Parmelee Transport. Pathe Excharge. Pathe Exchange A. Patino Mines. 5 Peerless Motor Car Penick & Ford (1). Penney (J C) (3). Penney (JC) pf A (6) Penn Dixie Cement Penn Dixie Cmt pf. Penn RR (4). Pere Marq pf (5 Pere Marq pr pf (5). Fetrolm Cp of Am(1) Phelps Dodge (2)... Phil Read C & 1. Phillips Pet (2)..... Pierce-Arrow A (2). Pierce Oil Pierce Petrolm (10c) Pillsbury Flour (2). Pitts Steel pf (7). Pitts United Corp TPoor & Co (B) i Porto Ric Am T( A) PR Am Tob B Postal T & C pf (7). Prairie Oil & Gas (2) Prairie Pipe Line (3) Pressed Steel Car. .. Proct & Gamb (2.40) PubSv N J (3.40)... PubSv N J pf (5) Pub Sv N J pf (6) Pub Sv N J pf (8) Pub Sv E & G pf (6). Pullman Corp (4)... Punta Alegre Sugar. Purity Bakeries (4) . Radio Corp. ... Radio Corp B (5). adio-Keith-Orph A. RR Sec 1C stk C (4). Raybestos Man 2 60. Real Silk Hos (3)... Rem Rand (1.60). Reo Motor Car ¢ Reo Motor ctf (80c). Republic Steel. ..., Republic Steel pf Reynolds Metals (2) Reynolds Spring. ... Reynolds Tob A (3). Reynolds Tob B (3). Richfietd Of1. ..... Rio Grande Oil. Rit Dent Mg (215).. Rossia Insur (2 20). Royal Dutch m1.3404 % Safeway Stores (5).. St Joseph Ld (2). St L-San Fran (8) Schulte Retail Strs Seaboard Air Line. eab Alr Line pf. ... ears Roebuck 12%.. econd Nat Inv..... wneca Conper. Servel Inc. .. Sharon Steel Hoop. Sharp & Dohme Shattuck F G (t Shell Union Oil. ... . Shell Un Oil pf (5%) hubert Theaters 9 1508 50e 26 45 10, 2 1 5 1 1 5 1 16 1 1 4 14 32 32 E Sinclair Con Of1 (1). Skelly Of1 nider Packing pf. .. Sou P Ric Sug (1.40) Add 00. High. Low. Close. Close. 1615 237 ~Prev. 1931 High. Low. 51% 45% 109 92% 65% 473 9213 91y 12 8% 10's 3) Prev. South 105 105 16% 105% 16 23% Spang-( Sparks Spiegel Stand B Stand G Stand O Stewart % Stone & Studeba Studeba Superios Superio: Sweets Texas I Thatche The Fal The Fai Third A Timken Timken Tri-Con! ‘on Twin Ci § Und-El Uniow Un Cark Un Pac 1273 101 35 314 48% 1 4 Unit Ca ity S Lea: Lea U S Real USSm Univ Py Vadasco Van R Va-Car Vulcan Ward B; Ward B; Warner Warner “Warren War Broscv pf (3) Warren Wess Oil & Snow (2) West Pa Kl A (7). West 'a B pf (6) 4 West Pa Pow pf (6). Western Dairy A (4) Western Dairy B.... ‘estern Md. . Western Pacific v W West Westing A B (2). w Stock ana Dividend Rate. South Pacific (6 South Ry (8). Spicer Mfg. Stand G & E pf (4). Stand Invest Corp. Stand 011 Cal (h23%). Stand Oil of Ka tand OIl N J (12). .. Starrett (LS) (t2%) Sterling Sec A... Sterl Sec cv pf (3). Superheater (2%). Wabash RR. Waldorf Sy Walgreen pf (612)... Walworth Co ¢2). Received by Private Wire Direct to The Star Office. % Sales— Add 00. High. 10 5114 3 107% . 4 627 10s 92 10 1% 2 1414 4 9 237 19% 3% 62% 4% 49 16% 497, 25% 31 5 Prev Low. Close. Close. Ed (2) 5l 50% “hal pf (6). Withing (1) -May rands (1.20). &E(3%). a. 11N Y (1.60). Warner. AVebster (4). ker (1.20)... 83 ker Cp pf (7) 108 8 r Oil T Stes of Ames Telautograph (1.49). Tennessee Corp (5 0c) 1 Sulph (4. Texas I’ ¢ Land T hateher MEx (1.60). rpf r( rpf Thermoid Co venue Thompson Pr (2.40). Thompson Starrett Tide Water As (60c). Tide Wat Oil pf (5).. Det Ax (80c) Roller (3)... Tobacco Products. Transamerica (1) Transue & W (1). tCorp.. t Corp pf (6) Trico Prod (2%). Truax Traer (1.60) ty RTr (84 1ot-Fish (5). & Paper. . hide (2.60) Un Oil of Cal (2). fic (10). Un TankCar (1.60).. Unit Aircraft. ... Unit Atrcraft pf (3) Unit Biscult (2).. rbon (1) Unit Cigar Stores Unit Cig Strs pf ( United Corporation Unit Corp pt (3). Unit Electric Coal. .. Unit Fruit (4) Unit G & Im (1.20).. $ UnitG & Im pf (5).. US & For Secur. . U S & For Sec pf ( 100% e 11 6). ight. . .. U S Gypsum (1.60). U S Hoffman. .. S Indus Alco (6). .. har... oo th pr pf (7) SPipe & F (2). Ity & Im ( U S Rubber. S Rubber 1st p melt & Ref (1). & Ref pf 313 Steel (7). Steel pf (7) Tobacco (4) Unit Stores A. Univ Leaf Tob (3).. Univ Pic 1st pf (8).. pe & Rad. Util P&L A (et2.15). Vadasco Sales Corp.. 0 Sales Cp pf. Vanadium Corp (3).. 705 e, .. Chem. .. Det (4). 1008 ol .. B70s 67 19 26% aking A aking B. Bros Pict Quinlan 6% Bros (3). 49 27% 22% 4 101 96 Fdy & P (2). 308 108'% 17w 13% 140 sting E & M (5). Westing E. Weston Wextar M pf (5) El Instr (1), k Radio Strs. White Motors (2 White F Wil tock MS 14 Overland. -Over pf (7). Wilson & Co. . Wilson Wilson &Co A & Co pf. Woolworth (2.40) W orthington Pump. w rth Pump B (6).. Wrigley (Wm) (4). Yellow Truck. Youngs Pac Gas & E Spring (3).. 2 RIGHTS—PEXPIRE. Mar 11 113 2y Sales of Stocks on New York Exchange 10:30 A.M. - 1:3¢ P.M g Dividend rates as given ts based on th Unit of trading §Payable in scrip. ‘Plus r b Payable in rate ¢ Pavatle in cash or & h Plus 2% tock in s 14% | m Paid ‘this year—no 500.000 - 2,000,000 2:00 Noon. 2:10 P.M. in the above table are the annual cash e latest quarterly or haif-yearl lers 100 Shares. TBartly extra Fine o i Sock” ¢ Paya stoc ayable when e tock, {Plus 8% in stock. g Plus 6% kPlus 3% 1n stock. n Blus 5% i regular rote arnea stock. us 5% in stock.’ | CORPORATION || REPORTS || TRENDS AND PROSPECTS OF | | LEADING ORGANIZATIONS | NEW YORK, February 18—The fol- | lowing is a summary of important cor- poration news prepared by the Stand- ard Statistics Co.. Inc., New York, for the Associated Press. News Trend. Today's corporate news includes nu- merous announcements of unfavorable dividend action. Ely & Walker Dry Goods, _American Colortype, Barker | Bros, Brill Corporation, I. Miller & | Sons, Crane Co., and American Utilities & General are among todays list of companies that have deferred, reduced, | or omitted distributions currently due. ‘The Companies. American Brown Boveri Electtic re- suming work on United States liners; Chapman reported in agreement with Shipping Board on Advances of funds. | American Capital Corporation, Decem- ber 31, liquidating value of 3 preferred stock, $43 a share: in liquidation stock is entitled to $50 a share, | American Cclortype declares 35 cents | quarterly common dividend; paid 60 | cents share quarterly previously; ranges for acquisition of Brighton Mills. | - American Hawalian S. S, Co. 1930 | common share earnings 60 cents against | $2.49. | American Home Products—1930 com- | mon share earnings, $5.49, against $5.47. | American Utilities & General Corpo- | ration—No_dividend declared on class | B stock: paid 5 cents share Dacemper 1. | Anaconda Copper Mining—Allocation | of 1930 common dividends for tax pur- The contractors are urging amend- ments which, they claim, would clarify the bill and remove uncertainties about insuring to labor what other proponents of the bills believe it should receive. Visible Wheat Supply Drops. FORT WILLIAM, Ontario, February 18 (P.—A drop of nearly 5000000 bughels in the visible supply of Cana- poses 15 $1.78 to earnings and $3.22 to | depletion, in opinion of officers and | counsel. | Auburn Automobile—February sched- ule of output, 4000 Auburns and 650 | Cords: 2,014 units shiped in January } Baldwin Locomotive Works—1930 | Berlin, common_share earnings. $1.94, against | Kinney (G. R) current shoe output | ReriD" Entered New - Year with few |about 11,000 pairs daily, against z.m‘zg?ic‘h n $1.07. orders booked. Barker Bros. omits quarterly common | bookings exceed those of ployes; has re-engaged 3,300 men since January 1. Brill " Corporation declares 34 cents, class A, dividend; paid 65 cents share March 15, 1930. Burns Bros. defers action on dividend on cumulative preferred, pending audity of books. Chrysler Corporation—1930 common share earnings, 5 cents, against $4.94; | declares 25 cents quarterly common dividend. ) Crane Go. cuts quarterly common dividend to 3114 cents from 63% cents share. Electric Auto Lite—Pirst quarter like 1930 period. Empire Public Service—1930 pre- Iiminary net. earnings before interest re- quirements reported $2,024,887, against $2,705,303. Florida East Coast Railway—1930 deficit, $1,998313, against deficit, $1,- 325,259 in 1929. Ford Motor * current output about 7,000 units daily, with operations on three-day week: dealers’ orders under- stood to be increasing as a result of re- cent increase in disccunts, Ford Motor (A. G.) Germany 1930 sales, 13,730 units; 30 per cent over 1929, Fox Film—Production of 72 features lanned for next 12 months. General Bronze 1930 deficit, $969,209, against net income, $1,128,464. General Motors—Chevrolet may step up February schedule; Buick tentative output increased, January shipments, ar- (6,000; Cadillac, La Salle January ship- | ments, 1,223. Graham-Paige Motors February out- put schedule, 2,400 cars, 300 over orig- inal schedule. Gulf, Mobile & Northern Railroad 1930 preferred share earnings, $2.20, against $9.39. Hale Bros. Stores 1930 common share earnings, $2.31, against $1.38. Hupp Motor Car retail deliveries in second week February largest since sec- ond week of August, 1930: dealer orders first half Feoruary 36 per cent over like January period. Illinois Power & Light December net before subsidiary preferred dividends, oft 5.2 per cent; 12 months, up 1.4 per cent, per day in December. Louisville & Nashville Railroad 1930 dian wheat at all points for the week |dividend: paid 50 cents share January 1. |common share earings, $5.64; against enging February 13 was noted in a re- 1ssued Iur‘. A. Ursel ticlan of grain loners. . Bigelow Sanfofd Carpet cuts rug | prices 7 to 8 per cent. Briggs Manufacturing recalls 500 em- 1.73. 1 # liaviket, Btreet Rallway January sur- plus, after charges, bel depreciation | and Federal taxes, off 12.3 per cent; 12 | months, off 15.7 per cent. McCall Corporation expec advertising income in 1931; | expected to show loss. | “Metro-Goldwyn Pictures increased Red Book preferred | share earnings, 12 weeks ended Novem- | | ber 21, $7.33, against $10.27 before Fed- cral taxes in 1929. | Miller (I) & Sons cmits quarterly | common dividend; paid 50 cents Jan- 1w | uary 2, 1931, Minneapolis & St. Louis Railroad 11930 deficit, $1.690,844, against deficit [of $948,091 in 1929, » | National aviation proposes reduction | in stated value of stock to $5 from $l» share, transferring difference of about | $4.000,000 to capital surplus; part of sum may be used to buy in shares. New York Central Railroad reported negotiating for additional *block of Michigan Central stock. North American Light & Power 1930 | common share earnings, $2.80 against | $3.18 on average amount of shares out- | standing. Penny (J. C.) Co. 1930 common share | earnings, $2.88, against $4.66, Piftsburgh & Wess Virginia Railway reported planning $1.000,000 Pittsburgh | station to replace present downtown structure. Pure Oil allowed to increase produc- | ton from van pool to 30,000 barrels 'datly from 27,500. Thompson Products January sales re- ported off 50 per cent. | Timken Detroit Axle February busi- ness 15 per cent ahead of January. United Gas may buy Gulf States | Utilities’ Lake Charges Gas system. | Ward Baking—M. B. Keady and J. M. Livingston on board. Western Pipe & Stecl Co. of C:li- fornia 1930 common share earnings, $3.03, against $5.78. Wilcox (H. F.) Oil & Gas offers com- | mon stockholders rights to subscribe t> | preferred stock at $100 share; basis 1 for 40 held. | FOREIGN EXCHANGE. | (@utations turnighed by W B Hibbs & Co.) | Nomind gold Selling checks Va London, pound | Paris, ‘franc Brussels, bel mark. lir It Ath | Madri | Vienna, B Deseta schilling, | Pri 2 a7 8% | IAUSTRALIAN BONDS SHOW HEAVY TONE Standards Declared Cause of Recent Price Decline. BY F. H. RICHARDSON, Special Dispatch to The Star. NEW YORK, February 18.— Bond trading today was marked by extremo heaviness in Australian federal an-i provincial securities. There was no p-7 on which to hang responsibility for th> heavy liquidation except reports from London that New South Wales’ per- sistence in holding sout for abandon- ment of the gold standard and a par- tial repudiation of debt service was now carrying more weight. At any rate, Australian common- wealth bonds, the issues of New South Wales, Queensland and the cities of Sydney and Brisbane were all down from 1 to over 4 points. Houses that issued part of these flo- tations in this market, some as recently as last year, when the Brisbane 6s were brought out at 96';. could not explain the sudden break. One dealer prof- fered the suggestion that there had { been a large selling order from London, The Brisbane 6s, incidentally, are now selling at a 30-point discount and on a 10 per cent yield basis. Time money rates were unchanged. Volume was somewhat heavier than on Tuesday. Apart from the break in Australian issues, the mark't was firm. United States Government long term bonds were all fractionally better as more of the uncertainty rezarding what financ- ing the Treasury wil have to dd in regard to th: bonus bill was cleared away. At the same time corporstion issucs held firmly to their high levels, with & brisk inquiry in evidence for American Telephone 5s of botli 1960 and 1965, Atchison General 4s, Atlantic Coast Lin> first 4s, Buffalo General Electric 4l5s, Canadian National Railways 5s, Chesapeake & Ohio General 4':s, Con- solidated Gas 5':s, Duquesne Light 4155, Great Northern 7s, National Dairy Products 5!4s, National Steel 5s, Nickel Plate 4!is, New Haven 4ls, Northern Pacific 4s, Pennsylvania 43;s, Southern Pacific 4!5s of both 1968 and 1969, Standard Oil of New York 41is, Union Pacific first 4s, Western Union 5s and Youngstown Shect & Tube 5s. A rising stock market proved an ef- fective lifter of junior bond values. There was a strong demand for Dodge Bros. 6s. The Chrysler report, is- sued today. showed cash and market- able sccurities of over $41.000,000 and the only funded debt of the company consists of $48,000,000 of Dodge Bros. 6 per cent debentures. On the showing of cash and securities alone there is $850 bchind each $1,000 bond. American Natural Gas 6'.s, one of the investment market's most spectac- ular performers, exhibited strength again after its weakness of a week ago. This coincided with gains in the company's | common and preferred stocks. The com- | pany through its subsidiary,” Oklahoma Natural Gas, is involved in the rate | investigation there, but only to a lesser extert. Along with other natural gas ! concerns controlled by Tri-Utilities Corporation it has shown increased sales and net earnings in recent months, Warner Bros. 6s, Shubert 6s, Locw's 6s and other amusement com- pany issues were strong with their | stocks. Indiana Limestone 6s gained over 4 points. Many of the second tinued interest payments, - . Stockholders Gain. | . NEW YORK, February 18 (#).— | Stockholders of the Budd Wheel Co. in- creased approximately 130 per cent in the past year, the total January 31 ag- | gregating 2924 common stockholders, | against 1,275 a year ago. Edward G. | Budd, president, said “it is our belief | that during the year general business | will_improve, and we are looking for- | ward to an increased volume of sales | and increased earnings. ‘Washington Stock Exchange SALES. Pot. Elec. 65 1953—$1,000 at 10814, Wash. R. & E. 45—$1,000 at 871;. Cap. Tract. 55—$500 at 8115, Cap. Tract. Co—10 at 35. Col. Sand & Gravel pfd.—10 at 95, 10 at 95. Mergenthaler Linotype—5 at 877%, 5 at | 87'2, 5 at 87!, 10 at 875, AFTER CALL. City & Suburban 5s—$1.000 at 81. Cap Tract. Co.—10 at 35'x. | Peoples Drug Str. pfd.—10 at 98. Bid and Asked Prices. BONDS. PUBLIC UTILITY. Amer. Tel. & Telza, 4%; City & Suburban 55. Georgetown Gas 1st 55 Potomac Elec. Potomac Elec 953 1 Wash., Alex. & Mt. Verron cif. 2 | Washington' Gas 412! Washington Gas 5s... Wash. Gas 65, series Wash. Gas 6s. series B Washington Jws. & Elec. 4 MISCELLANEOUS, Ross. Inc.. 6'2s.. ase Club 51 ! Barber & Chevy C 8ias. Columbia Country Club 5135 | B, C_ Paper, Mfe. 6s. M. Cold’ Storaze 55 ash. Cons. Title 6s. STOCKS. PUBLIC UTILITY. N tea Pot. Elec: Power Pot. Elec: Power o1 Wash Rw om. Wash., Rw: pld. NATIONAL BANK. Gapital (14) 5 | EoRambia 01 | Commercial (stamped) (10) Dfstcr 8). - Fed -Am.' Nail BK. & L o sl | Lincoin Washington TRUST COMPANY. Amer. Sec. & Tr. Co. (15). Continental Trust (6) . National Sav. Union Trust (85)... .. * 20 Washington Loan & Trist (i4): SAVINGS BANK. Bank of Bethesda (6f) . Commerce & Savings (10 East Washington (12) Potomac (10).... ... Security Sav.'& Com. Seventh Street (12) United States (30 Washington Mechanics (20) FIRE INSURANCE. Amertcan (12)...... ¢ Corcoran (10)." : Firemen's (&) .1 National Union (i3 TITLE Columbia(6h) Real Estate (6h).. ! Title & Inv Co. Md "¢ MISCELLANEOUS. Barber & Ross. In Col. Medical Bidz. Col. Sand & Grav Bk ( #e . TE. fi El“ev ptd. (7 "‘l" & G. Dni (L Woodward & Lothrop com Woodward & Lothiop pid. (1) *Ex dividen b Books closed. Proposal to Abandon Gold‘ and third grade rails discounted con- | . WASHINGTON, D. C., WEDNESDAY, FEBRUARY 18 1931, FINANCIAL. I | ON NEW YORK BONDS STOCK EXCHANGE Received by Private Wire Direct to The Star Offics UNITED STATES. (Sales are in $1,000.) Sales. High. Low. Close. 10118 101 18 10118 10223 10223 10223 10321 103 14 103 19 10125 10113 101 25 1024 10121 1024 1058 1058 1058 300 1079 1078 1079 21 11114 1118 1118 FOREIGN. Sales. Hich. Low. Close. 10 861 86 86l o1%% 914 91 ol 9% 91 91 0% 58 61% 591 64 601y 106% 105': 84 84 86 86 96 95y 10315 10315 109% 109y 13% 113 110% 110 3015 30% 26% 26% 1047 1047 US3%s'43.. U S3Rs"4T.. USINB.... TS 4844 US4%s 128 172 100 Argentine 5145 '62. Argentine May "61. | Argentine 6= B | Argentine 6s Ju Australia 4 Australia 5s Australia 58 ‘57, .. Austria 7s'43. Bkof Chils 648 Bk of Chile 6% s 61 Ratav Pet 4155 '42.. Belgium s | Belgium 6345 '49. .. Belgium 78 '55... Belgium 75 56 Bolivar 78 '58. Bolivia 7s ctfs ‘69 Bordeaux 6s '34 6 91 | Brazil 8 Bremen 75 '35. | Canada 5s " | Canada 5552, [ Chile 6360 Chfle 6s '61 Chile 7s * “olomb 6z Con Pow Japan 7s Copenhag 438 53 Copenhag 58 '52. . Cuba 5%s°45. 14 96% 96% 100% 100% 106 105% 79 11015 110% 109% 109% 9674 96% 1013% 101% 106 1057 102% 102% 10215 102% 101 101 oo 2 95% 94% 6 1211 121 127 126% Czecho 98 '52 Denmark 4158 '62. 5 Finland 5 Finland 7 5 French 7s'49. French Gvt 71 Gelsenk’chen 65’34 German 514565 German BK 6s German Ts rep '49. ., Ger Gen E1 7545, Greek 65'63. Halt! 65 '52 Hungary 7 . Irish Free St 55 '60. Italy 7s51.., Italy Pub Sv 78 '52. Japanese 514565, . Japanese 614s "54. . Jugosl Bank 7s '57. Karstadt 6s°43. Kreug & Toll 5s Lyons 6s'34. Marseille 65 '34. Mex 4s asstd 191, Milan 5 102 101 103 103 98% 9815 9l 9% 94% 941 105 104% 81% 81 67 675 92 91% 10474 104% % 174 106 106 60% 571 60 5Ty 10614 1065 7 101 101% 103% 1025 106 1051 1051 105% 92 01y 98% 98%% 104% 104% 32% 31 31% 51 9 68% 81 BOY 88u 88 64 T 20 88k 8214 8215 81 985 58% 58 45 a4 704 701 88 87% oY% 91y £33 3 861 864 72 L 8615 86 107% 107% 82 81 105% 1054 105% 105% 106 106 29Y% 99y 985 98U Netherlands 6s " New S Wales 65 w S Wales 6s Norway 65 '43 Norway 6s 44, Orient dev 514 s Orient dev 6s ‘53 Paris-Ly M 63 '58. Peru%s '60 Peru 6s " Peru 7s '59 Poland 65 40 Poland 7s *47 Poland 8s 50 Queenland 6s ‘47 Queenland 7s "41 Rhine West 6s Rhine West 63 5. Rhine West 7s Rio de Jan 68 '52 B Gr De Sul 6s '68 R Gr De Sul8s 46, . Rome 648752, . Roy D 4845 ww... Sao Pau 7s '40 rets. Sao Paulo 8s'36. .. Sao Paulo 85 '50. Saxon 7s'45. Seine 7s " Solssons 65 ‘36 Sweden 5%s '54. Swiss 548 °46. . Toho El Pow 6s " Toho El Pow 7s ‘55. Utd King 51537, . Uruguay 6s'60.... Uruguay 8s '46 Vienna 6s " Warsaw 7s 5 62 6214 Yokohama 6s 9 9w MISCELLANEOUS. Abitibl P & P 5! 3 1% Adams Exp 4s'48. . 874 Allegheny 5s 44 85% Allegheny 5s 4 84% Allis-Chalm 58 101% 103 1021 88 7% 7% 8T Ba% 831 101t 1041 841y 100 9274 92% 36% 102% 103% 1301 1068, Am F P 55 2030. ... Am1GCh5%s'49. Am IntCp 515549, Am Metal 5%5'34., 77 Am N Gas 6.5 42, Am S&R 1st 55 Am Sug Ref Am T&T cv 4338 '3 Am T&T 556 AmWat Wk 6s'7 Am Wr Pap 6s * Arm & Co 414539, Arm Del 514543, At Gulf 5s°59. At Ref deb 5s 37 Bell Tel Pa 53 B *48 Bell Tel I'a 5s Beth Steel pm Beth St rf 6s'42... Cert-td deb 5%s "48 38 Chile Cop db 55'47. 1 Col G&X 55 May '52 Com Inves 5148 '49. C C Md 1st rf 5550 ConG N Y 5%8'4 Consum Pow 58 '52. C Am Sug col 85,31 Denver Gas 5s'51.. 1 Det Ed G&R4%s'61 17 Det Edrf 65 B 40.. 9 Dodze Brcl 6s'40.. 17 Duquesne 435 '67.. 19 Gen Cable 514847, 3 Gen Motors 6s'37..118 Gen St Cas 5125’49, 5 Gen Th Eq 6s°40... 21 Goodrich cv 65'45. 44 Good 1st 635547, .. 10 Goody'r Rub 58 '57. 35 Humble O11 55'37.. 14 BT 1stpt s 111 Steel 4348 Inland St 4% Int Cement 55 '48. . Int Hydro El 6s '44 Int Maich 58°47. .. Int MM col tr 6541 Int Pap 6855, IntT&T4%s Int T&T cv 4% 29 15 Laclede 5%s C '53. Laclede 5%s D 60. Lautaro Nit 6s'54.. 1. Loew's 6s war 41.. Loew's 63 ex war. . Lorillard 58 '51. ... Lorillard 5%s '37. . Lorillard Ts ‘44. Lou G & El 55 52 McKes & R 5%s 50 McCormack 6s '34. Midvale Sti 5s '36. Mont P db s A '62 Mor & Co 1st 4%s.. Nat Dairy 51,s"48. Nat Rad 6%6s'47... N Engz T 1st bs '52. N Y Edison 53 B 44 N Y Ed 15t 635 '41. NY ELH&T 4549, 102% 100% 82% 101 19% Sales. N Y Tel 634 1 Nor St Pw bs A "41 PacG & El 5s'42... Pac T&T 15t Pac T&T ref Pan-Am Pet Pathe Exch 7s "37.. Phiia Co 67..... Pnila & Read 6s '49 Phila Pet 53839, . Pillsb F M 6s 43 Por RT am 6842 Pos Tel & C 58 53, Rem R5%8 A 4T... Kich Ofl cal €4°44.. Shell Un Of1 58 47. Sinclair O11 614 8'38. SincOTscvA3T.. 1 Sine CrO 5%s 38, Skelly Oil 518 Sou Bel T&T 58 41, St Oil N J 6846 7 StOIIN Y 4%s 61, Tenn EI P 65 A '47. Tex Corp cv 58 '44.. Unit Drug cv 58 '53 U S Rub 18t 5547 Utah P & L 584 Walworth 6s A *45 Warn Br Pic Warn Quin 6: West El deb 58 '44 West Un Tel 58 °51. West Union 55 '60 West UnT 6%8 WEO5%s'37 ww. Wh Sew Mch 65 '40 Wil& Co 1st 65 '41. WInRATis'41... Ygstn Sh&T 55°78. 30 RAILROAD. Atchison adj 4595, 15 Atchison gen 43°95 45 Atchidcv 4358 '41.. 25 Atch Ariz 414862 AL& BIr4s '3 AtC Lol AtCL 1st 4552 B&O45"48. B&Ocv4% B&O4%s"60 B & O 1st b . B & Oref 55°95. 13& 0 58 D 2000. B&OP&WYV 4 B & O Sw dy b8 5! B & O Toledo 48 '50. Ban & Aroos 45 '51. 11 Bos & Me 5567, BA&TthAv5s'4s., 1 Bklyn Elev 6%s. ... BkIyn Un 1st 55°50. Bklyn Man 6s 68. . Bush Ter con 55 Can Can Nor 4148 '35 Can Nor 675 db '46 Can Nor 7s deb ‘40.., Can Pac deb 4s. Can Pac 41846 Can Pac 4% s '60 Can Pac 53 ctfs "44. Car Clin & O 65 '52 Cent Pac 4549, Cent Pac 55 '60. Cen Ry NJ g 5 Ches Corp 55 *47 93.. Chi& O 4%s B '35 Chi & Alt 314550 CR & Q gen 4s ‘58 CB&QIldv3is 49 Chi & Eas 111 5s '51. | Chi Grt West 45’59 46 Chi M&StP 433 C §{Ch M&StP 4% Chi M StP&P 55 Chi M & St P adj 5 ChI&NW g 3158 '87. Ch&Nwn 4%s2037. 12 Chi & NW con 4%s. 10 Chi Rwys58'27.... 3 Chi RI&P gn 4s'88. & ChiRI&Prfds'34 27 ChiR Icv 434860, ChiRI&P4%s A, ChiUn Sta 6% C& W Indev 4 C& W Ind 53s 62, CCC&St L 4%s E CCC & St L 53 D '63 C U Ter 4145 2020, Clev Term 4%s 77, 1 Clev Term 5% '72. Colo & Sou 4163 °35. Colo & Sou 4%5'80. 23 Cuba R R5s'52.... 30 Cuba Nor 5%s *4: 8 Del & Hud rf D& R Gr gn'4s ‘36. D&RG W 55°55. Erfe 1st con 4596 Erie Gen Erfecv 5s Erie 5s%5. . Ga & Ala 1st 55" GrtTrsfdb 6s'36 Grt Trunk 7s '40 Grt Nor 43877 Grt Nor 1st 5: Grt Nor gen .. Gulf Mobile 55 '50. . Hav El Ry 5%s'51. Hock Val 44599, . Hud & M adj 58 '57. Hud & M rf 58 '57.. 111 Cent 4s 52 111 Cent ref 4s 111 Cent 438 " 111 Cent 61 5 12 111 CCStL&N 6s A. Int Rap Tr 55 '66 Int Rap Tr sta '66. Int Rap Tr 6s ‘32 Int Rap Tr 7s ‘32 Int & Gr Nor 55 '56. Int & G N ad 6s°52. Shore 3%3°97 Shore 4 . Leh Val cv 45 2008, LehV cv 4%s 2003, Long Isldb 5s'37.., [ & N uni 45 '40. 2003, L & N 5s B 2003. L&N1strf5ls. Manh Ry 1st 4s '90 Market St 75 40 Mil E Ry & L 58 M StP&SSM con 4 M StP&SSM 6% MK & T 1st 4590, M K & T adj 5867, MK &T prin59A. Mo Pac gen 4s 7| Mo Pac 55 A '65. . Mo Pac bs F 77 Mo FaciaG 18 0. 1 Mo Pac 55 H Mo Pac ref 58 4 Mo Pac 5%scv 49, Mont Tr 1st 55 '41.. 12 Nat Ry M 43%s 5’ P 54 6 1 2 4 5 2 N ¥ Cent 4%s 2013. NYCreim 55 2013. 19 NY C&StL 4%5'78.307 NYC&StL6s's2. 3 NY NH&H 3%s'56. 50 NYNH&H db 45 '57. NY NH&H 4%s '67 NY NH&H cvdb NY O&W gn 4s° NY S&W gn 55 Nor & Wn ev 48 '96. Nor Pac 38 2047. Nor Pacdn 97, ... 28 Nor Pac 5 o Nor Pae lg& 0 | Neg r1682047" Ogflen&T. Ch 4s'48. Ore Short L 5s gtd. OFeg-Wash 4s 61, . Penn 4s '48 Sta 111% 103% 102% 105% 102% 104 % 1074 1021 69 100% 81y 8815 8 108 79 70 Low. Close. Tosst 1oam 1 102% 102% 105% 105% 102% 102% 103% 104 10415 104% 1074 107% 102 1024 68 68 100% 100% 81% RR'y 108 79 4% 108'% 424% 1031 96 99 119 104% 507 91 961 97% SCIENTIFIC MINING METHODS INVENTED Engineers Devise Instruments to Discover Minerals and Precious Stones. 'BY BRADLEY W. TRENT. Special Dispatch to The Star. NEW YORK, February 18.—Modern scientific methods are r ing the costly guesswork of other days in the mining industrv as in other branches of the business world. At the 140th meeting of the American Institute =f Mining and Metallurgical Engineers, in gzfiogm« this week at the Engineering eties Building here, approximatelv 1,700 mining and metallurgical engi. neers from all Y‘m of the world are discussing the latest developments in their industry and informing the publie of their forward steps. Instruments are being demonstrated which make possible the locating of diamonds, silver. gold, lead, copper, ofls and other mineral deposits and which fix the depth of rock formation. Al of them are declared to be invaluablq aids to the miners in tching the earth's surface and delving for its treas: ures. New Tool Described. Noel H. Stearn, consulting geolegist of St. Louis, described a new ;l!a pector’s tool used in locating valuable minerals and whose working ?rlnflp‘! involves balancing the force of gravity against magnetic force. This is known as the “Hotchkiss superdip” and differs from the ordinary dip needle in degree of sensitivity to magnetic attractions of minerals in the soil. Alse each min- eral deposit has its own characteristic magnetic reaction, which is registered on the superdip. Mr. Steasn declared that many diamonds, one of them weigh- lni over 20 carats, have been found in Pike County, Ark., by means of this new instrument. Information about rocks &nd rock formations concealed beneath the earth is now obtained by an instrument called the “megger,” a device about the size of a portable typewriter. This is used to determine the depth of certain rock formations, flat, folded or bent, and the depth of the soil under the rock bed as well as to learn whether- an ore body 8% | lies concealed nearby. It sends an elec- tric current through the ground and registers the resistance of the various % | soil and rock formations to the current. bl 35; old, 8) Co-operation Stressed. In the discussions in the coal division of the institute, co-operation is the key- note. C. E. Bockus, president of the National Coal Association, expressed the hope that the Federal Government some day might make co-operation pos- sible in the bituminous coal industry “py freeing it from unreasonable re- straint.” - He said coal has completely deflated its own selling price in this country and that many grades are back to pre-war prices. He declared the ine dustry must have a market for between 460,000,000 and 530,000,000 tons of coal, and that co-operation among 300 of the larger coal companigs could make the bituminous coal industry prosperous. The Mining Institute anpounced that it would act as host in Sej ber to the Iron and Steel Institute of Great Britain and to the Institute of Metals of London, with the American Iron and Steel Institute: co- ting. A party of 150 British metallurgists will visit Wash- ington, Detroit, Chicago, h, Niagara and other cities, returning home in October via Montreal. (Copyright, 1931.) Washington Produce uBg;ur—One-pound prints, 33a34; tub, 232, Hennery, 18a19; current re- ceipts, 17. Poultry, alive—Turkeys, , 33a a32; Winter chickens, 32; pring broilers, 37a38; hens, large, 20a 22; small, 20; Leghorns, 15; roosters, 15; ducks, 15; keats, large and young, 60a65; old, 25a30. Dressed—Turkeys, young, 40a42; old, 35; Winter chickens, 38a40; Spring broilers, 45; hens, heavy, 24a25; light, 20a21; capons, large, 37a 38; small, 32a33; ducks, 24a25; rooste ers, 16; keats, young, 70a80; old, 40a45, Meats—Presh-killed, beef, 14a22; veal, 18a21; lamb, 21; pork loins, 18a20; fresh ham., 20: fresh shoulders, 14; smoked hams, 22a24; smoked shouldyrs, 13al4; strip bacon, 23a34; lard, in 915210; in kages, 10a1015. Live stock—Hogs, medium and light, 8.00a8.20; heavy, 6.50a7.25; pigs, 7.00a 8.00; loughs, 4.00a5. calves, 7.00a 10.00; lambs, 8.00a9.00. Pruits—Strawberries, 50; honeydews, Chile, 3.00a3.50; oranges, Florida, 2.758 3.75; California, 3.00a4.5! 3.50 a5, tangerines, Emperors, kegs, 5.00; apples, bushel baskets, 1.00a2.00; box stock, 2.00a3.00; pears, box stock, 3.50a3.75; cranberries, 25-pound box, 3.50; pineapples, 4.00a 4.50; limes, per 100, 2.00. Vegetables — Potatoes, _150-pound sacks, 3.25; new potatoes, Florida, 2.00 22,50, mostly 2.50; Idaho bakers, 100 pounds, 2.75: sweets, per bushel, 1.00a 2.00; caulifiower, 2.00; string beans, 5.0025.25; eggplant, Cuba, 4.50; pep- lemons, 1.75a2.25; grapes, v# | pers, 3.00a3.50; broceoli, 1.15a2.00; cab UM% 95 103% 991 1121 7 108 945 9915 102 % bage, new, per hamper, 1.50al.7. pound sacks, 1.25; old, per sack, I 1.50; lettuce, Iceberg, 3.00a3.50; Flor~ ida, per hamper, 150a1.75; spin- ach, 1.00; kale, 1.10: mushrooms, 75a 1.00; squash, per barrel, 3.50a4.00. peas, 6.00; cucumbers, Florida and Bos ton hot house, per dozen, 1.25; toma-; toes, repacks, per pan, 1.00; okra, Cuba; 6-pan crates, 6.00a9.00. A . Low. Close. 10170 109 Penn 4% 863 Penn 6%s'36 Pere M 1st 45 '56 Pere Mar 415 '8 Pere M 1st 53 ‘56 Phillppine RR 45 P CC&StL 4155’7 Por R L&P 71 " Read gn 4%s A °97. Rio Gr W 1st 45739, Rio Gr W clt 4s 49, RIAr&L4%s'34. StLIr M'ntés'31.. StL IM R&G StL&SFin = StL&SF 4%s'78. St L&SF prIn 58 B. StLS Wev4s'3z.. 20 StL S W ist 48’89, StLS W 585 StP& KCSL 4% San A & A P 4s'43. Seab A Lirf 45'49.. Seab A L 4s st '50. . Seab A L cv 6s'45. . Sea All Fla K Sou Pac col Sou P 4%5°69 ww.. Sou P&Or 438 "77.. Sou Ry 6%s'56 Sou Ry M&O 4s '38. Tex & Ark 5%s'50. Tex & Pac 5s B'77. Tex & 58C"1 Texas Pac 5s. D Third Av adj 5 s Tol St L & W 4850 Un Pac 1st s ¢ Un Pac 4s ‘68 . 30 Un Pac rf 48 2003. . Un Pac 4% s'67.... Un P 1st rf 55 2008. Va Ry 1st b 5 Va Ry & Pow 5834 Wabash 43s 78, Wabash 53 D '80, .. Wabash 5 s 7 West Md 4s West Md 5% West Pac 5s